Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Jul. 31, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | FNB | |
Entity Registrant Name | FNB CORP/FL/ | |
Entity Central Index Key | 37,808 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 175,288,069 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Cash and due from banks | $ 196,189 | $ 196,240 |
Interest bearing deposits with banks | 41,290 | 91,153 |
Cash and Cash Equivalents | 237,479 | 287,393 |
Securities available for sale | 1,618,620 | 1,534,065 |
Securities held to maturity (fair value of $1,526,040 and $1,468,258) | 1,518,060 | 1,453,355 |
Residential mortgage loans held for sale | 6,711 | 6,180 |
Loans and leases, net of unearned income of $49,856 and $56,131 | 11,626,787 | 11,247,038 |
Allowance for credit losses | (131,141) | (125,926) |
Net Loans and Leases | 11,495,646 | 11,121,112 |
Premises and equipment, net | 167,010 | 168,756 |
Goodwill | 831,333 | 832,213 |
Core deposit and other intangible assets, net | 45,057 | 47,504 |
Bank owned life insurance | 304,318 | 301,771 |
Other assets | 374,367 | 374,741 |
Total Assets | 16,598,601 | 16,127,090 |
Liabilities | ||
Non-interest bearing demand | 2,813,488 | 2,647,623 |
Interest bearing demand | 5,226,703 | 4,547,628 |
Savings | 1,730,359 | 1,575,922 |
Certificates and other time deposits | 2,587,577 | 2,611,035 |
Total Deposits | 12,358,127 | 11,382,208 |
Short-term borrowings | 1,507,582 | 2,041,658 |
Long-term borrowings | 542,578 | 541,443 |
Other liabilities | 124,543 | 140,325 |
Total Liabilities | 14,532,830 | 14,105,634 |
Stockholders' Equity | ||
Preferred stock - $0.01 par value Authorized - 20,000,000 shares Issued - 110,877 shares | 106,882 | 106,882 |
Common stock - $0.01 par value Authorized - 500,000,000 shares Issued - 176,434,735 and 175,450,303 shares | 1,765 | 1,754 |
Additional paid-in capital | 1,803,347 | 1,798,984 |
Retained earnings | 210,422 | 176,120 |
Accumulated other comprehensive loss | (43,953) | (46,003) |
Treasury stock - 1,147,755 and 1,458,045 shares at cost | (12,692) | (16,281) |
Total Stockholders' Equity | 2,065,771 | 2,021,456 |
Total Liabilities and Stockholders' Equity | $ 16,598,601 | $ 16,127,090 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Securities held to maturity, fair value | $ 1,526,040 | $ 1,468,258 |
Unearned income on loans | $ 49,856 | $ 56,131 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 110,877 | 110,877 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 176,434,735 | 175,450,303 |
Treasury stock, shares | 1,147,755 | 1,458,045 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest Income | ||||
Loans and leases, including fees | $ 119,460 | $ 109,542 | $ 237,199 | $ 213,639 |
Securities: | ||||
Taxable | 14,467 | 13,577 | 28,681 | 25,864 |
Nontaxable | 1,484 | 1,287 | 2,857 | 2,578 |
Dividends | 9 | 13 | 20 | 192 |
Other | 28 | 21 | 60 | 47 |
Total Interest Income | 135,448 | 124,440 | 268,817 | 242,320 |
Interest Expense | ||||
Deposits | 7,636 | 7,461 | 15,085 | 14,610 |
Short-term borrowings | 1,794 | 1,333 | 3,562 | 2,552 |
Long-term borrowings | 2,251 | 1,454 | 4,482 | 3,141 |
Total Interest Expense | 11,681 | 10,248 | 23,129 | 20,303 |
Net Interest Income | 123,767 | 114,192 | 245,688 | 222,017 |
Provision for credit losses | 8,864 | 10,405 | 17,000 | 17,411 |
Net Interest Income After Provision for Credit Losses | 114,903 | 103,787 | 228,688 | 204,606 |
Non-Interest Income | ||||
Service charges | 17,514 | 17,441 | 33,331 | 32,710 |
Trust fees | 5,432 | 4,862 | 10,593 | 9,626 |
Insurance commissions and fees | 3,559 | 3,691 | 7,928 | 8,636 |
Securities commissions and fees | 3,597 | 3,002 | 6,654 | 5,393 |
Net securities gains | 14 | 776 | 5 | 10,237 |
Mortgage banking operations | 2,516 | 928 | 4,315 | 1,142 |
Bank owned life insurance | 1,838 | 1,807 | 3,681 | 3,992 |
Other | 5,282 | 6,683 | 11,427 | 9,524 |
Total Non-Interest Income | 39,752 | 39,190 | 77,934 | 81,260 |
Non-Interest Expense | ||||
Salaries and employee benefits | 50,431 | 48,465 | 99,700 | 97,418 |
Net occupancy | 8,472 | 8,068 | 17,448 | 16,550 |
Equipment | 7,698 | 7,177 | 15,346 | 14,076 |
Amortization of intangibles | 1,999 | 2,461 | 4,114 | 4,744 |
Outside services | 9,163 | 8,233 | 17,940 | 15,470 |
FDIC insurance | 2,783 | 3,399 | 6,472 | 6,393 |
Merger and acquisition related | 371 | 832 | 371 | 6,150 |
Other | 15,582 | 13,949 | 29,763 | 25,949 |
Total Non-Interest Expense | 96,499 | 92,584 | 191,154 | 186,750 |
Income Before Income Taxes | 58,156 | 50,393 | 115,468 | 99,116 |
Income taxes | 18,025 | 15,562 | 34,994 | 29,761 |
Net Income | 40,131 | 34,831 | 80,474 | 69,355 |
Less: Preferred stock dividends | 2,010 | 2,010 | 4,020 | 4,332 |
Net Income Available to Common Stockholders | $ 38,121 | $ 32,821 | $ 76,454 | $ 65,023 |
Net Income per Common Share - Basic | $ 0.22 | $ 0.20 | $ 0.44 | $ 0.40 |
Net Income per Common Share - Diluted | 0.22 | 0.20 | 0.43 | 0.39 |
Cash Dividends per Common Share | $ 0.12 | $ 0.12 | $ 0.24 | $ 0.24 |
Comprehensive income | $ 31,158 | $ 42,313 | $ 82,524 | $ 89,720 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
Balance at Dec. 31, 2013 | $ 1,774,383 | $ 106,882 | $ 1,592 | $ 1,608,117 | $ 121,870 | $ (56,924) | $ (7,154) |
Comprehensive income | 89,720 | 69,355 | 20,365 | ||||
Dividends declared: | |||||||
Preferred stock | (4,332) | (4,332) | |||||
Common stock: $0.24/share | (40,123) | (40,123) | |||||
Issuance of common stock | 4,116 | 14 | 7,857 | (228) | (3,527) | ||
Issuance of common stock - acquisitions | 81,389 | 67 | 81,322 | ||||
Restricted stock compensation | 1,419 | 1,419 | |||||
Tax benefit of stock-based compensation | 1,505 | 1,505 | |||||
Balance at Jun. 30, 2014 | 1,908,077 | 106,882 | 1,673 | 1,700,220 | 146,542 | (36,559) | (10,681) |
Balance at Dec. 31, 2014 | 2,021,456 | 106,882 | 1,754 | 1,798,984 | 176,120 | (46,003) | (16,281) |
Comprehensive income | 82,524 | 80,474 | 2,050 | ||||
Dividends declared: | |||||||
Preferred stock | (4,020) | (4,020) | |||||
Common stock: $0.24/share | (42,152) | (42,152) | |||||
Issuance of common stock | 6,207 | 11 | 2,607 | 3,589 | |||
Restricted stock compensation | 1,564 | 1,564 | |||||
Tax benefit of stock-based compensation | 192 | 192 | |||||
Balance at Jun. 30, 2015 | $ 2,065,771 | $ 106,882 | $ 1,765 | $ 1,803,347 | $ 210,422 | $ (43,953) | $ (12,692) |
Consolidated Statements of Sto6
Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Stockholders' Equity [Abstract] | ||||
Common stock dividends per share | $ 0.12 | $ 0.12 | $ 0.24 | $ 0.24 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Operating Activities | ||
Net income | $ 80,474 | $ 69,355 |
Adjustments to reconcile net income to net cash flows provided by operating activities: | ||
Depreciation, amortization and accretion | 21,871 | 16,290 |
Provision for credit losses | 17,000 | 17,411 |
Deferred tax expense (benefit) | 5,789 | (2,454) |
Net securities gains | (5) | (10,237) |
Tax benefit of stock-based compensation | (192) | (1,505) |
Loans originated for sale | (195,538) | (51,761) |
Loans sold | 198,787 | 58,659 |
Gain on sale of loans | (3,780) | (2,465) |
Net change in: | ||
Interest receivable | (1,593) | 40 |
Interest payable | (492) | (1,292) |
Securities classified as trading in business combination and sold | 203,178 | |
Bank owned life insurance | (2,524) | (3,375) |
Other, net | (14,562) | 8,705 |
Net cash flows provided by operating activities | 105,235 | 300,549 |
Investing Activities | ||
Net change in loans and leases | (402,216) | (538,144) |
Securities available for sale: | ||
Purchases | (242,375) | (526,470) |
Sales | 33,228 | 150,055 |
Maturities | 125,270 | 172,295 |
Securities held to maturity: | ||
Purchases | (204,591) | (325,989) |
Maturities | 137,518 | 95,152 |
Purchase of bank owned life insurance | (24) | (4,448) |
Withdrawal/surrender of bank owned life insurance | 715 | |
Increase in premises and equipment | (8,651) | (8,021) |
Net cash received in business combinations | 27,058 | |
Net cash flows used in investing activities | (561,841) | (957,797) |
Financing Activities | ||
Demand (non-interest bearing and interest bearing) and savings accounts | 999,376 | 451,460 |
Time deposits | (21,510) | (122,075) |
Short-term borrowings | (534,076) | 263,271 |
Increase in long-term borrowings | 14,654 | 216,736 |
Decrease in long-term borrowings | (13,544) | (58,831) |
Net proceeds from issuance of common stock | 7,772 | 6,376 |
Tax benefit of stock-based compensation | 192 | 1,505 |
Cash dividends paid: | ||
Preferred stock | (4,020) | (4,332) |
Common stock | (42,152) | (40,123) |
Net cash flows provided by financing activities | 406,692 | 713,987 |
Net (Decrease) Increase in Cash and Cash Equivalents | (49,914) | 56,739 |
Cash and cash equivalents at beginning of period | 287,393 | 213,981 |
Cash and Cash Equivalents at End of Period | $ 237,479 | $ 270,720 |
Business
Business | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business | BUSINESS F.N.B. Corporation (the Corporation), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in six states and three major metropolitan areas, including Pittsburgh, Baltimore, Maryland and Cleveland, Ohio. As of June 30, 2015, the Corporation had 284 banking offices throughout Pennsylvania, Ohio, Maryland and West Virginia. The Corporation provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network which is led by its largest affiliate, First National Bank of Pennsylvania (FNBPA). Commercial banking solutions include corporate banking, small business banking, investment real estate financing, international banking, business credit, capital markets and lease financing. Consumer banking provides a full line of consumer banking products and services including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. Wealth management services include asset management, private banking and insurance. The Corporation also operates Regency Finance Company (Regency), which had 73 consumer finance offices in Pennsylvania, Ohio, Kentucky and Tennessee as of June 30, 2015. |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | BASIS OF PRESENTATION The Corporation’s accompanying consolidated financial statements and these notes to the financial statements include subsidiaries in which the Corporation has a controlling financial interest. The Corporation owns and operates FNBPA, First National Trust Company, First National Investment Services Company, LLC, F.N.B. Investment Advisors, Inc., First National Insurance Agency, LLC, Regency, Bank Capital Services, LLC and F.N.B. Capital Corporation, LLC, and includes results for each of these entities in the accompanying consolidated financial statements. The accompanying consolidated financial statements include all adjustments that are necessary, in the opinion of management, to fairly reflect the Corporation’s financial position and results of operations in accordance with U.S. generally accepted accounting principles (GAAP). All significant intercompany balances and transactions have been eliminated. Certain prior period amounts have been reclassified to conform to the current period presentation. Events occurring subsequent to the date of the balance sheet have been evaluated for potential recognition or disclosure in the consolidated financial statements through the date of the filing of the consolidated financial statements with the Securities and Exchange Commission (SEC). Certain information and note disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The interim operating results are not necessarily indicative of operating results the Corporation expects for the full year. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Corporation’s Annual Report on Form 10-K filed with the SEC on February 27, 2015. |
Use of Estimates
Use of Estimates | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Use of Estimates | USE OF ESTIMATES The accounting and reporting policies of the Corporation conform with GAAP. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Material estimates that are particularly susceptible to significant changes include the allowance for credit losses, securities valuations, goodwill and other intangible assets and income taxes. |
Mergers and Acquisitions
Mergers and Acquisitions | 6 Months Ended |
Jun. 30, 2015 | |
Business Combinations [Abstract] | |
Mergers and Acquisitions | MERGERS AND ACQUISITIONS OBA Financial Services, Inc. On September 19, 2014, the Corporation completed its acquisition of OBA Financial Services, Inc. (OBA), a bank holding company based in Germantown, Maryland. On the acquisition date, the estimated fair values of OBA included $390,160 in assets, $291,393 in loans and $295,922 in deposits. The acquisition was valued at approximately $85,554 and resulted in the Corporation issuing 7,170,037 shares of its common stock in exchange for 4,025,895 shares of OBA common stock. The Corporation also acquired the outstanding stock options of OBA that became fully vested upon the acquisition. The assets and liabilities of OBA were recorded on the Corporation’s consolidated balance sheet at their fair values as of September 19, 2014, the acquisition date, and OBA’s results of operations have been included in the Corporation’s consolidated statement of comprehensive income since that date. OBA’s banking affiliate, OBA Bank, was merged into FNBPA on September 19, 2014. Based on the purchase price allocation, the Corporation recorded $20,107 in goodwill and $4,304 in core deposit intangibles as a result of the acquisition. None of the goodwill is deductible for income tax purposes. BCSB Bancorp, Inc. On February 15, 2014, the Corporation completed its acquisition of BCSB Bancorp, Inc. (BCSB), a bank holding company based in Baltimore, Maryland. On the acquisition date, the estimated fair values of BCSB included $596,122 in assets, $304,932 in loans and $532,197 in deposits. The acquisition was valued at $80,547 and resulted in the Corporation issuing 6,730,597 shares of its common stock in exchange for 3,235,961 shares of BCSB common stock. The Corporation also acquired the outstanding stock options of BCSB that became fully vested upon the acquisition. The assets and liabilities of BCSB were recorded on the Corporation’s consolidated balance sheet at their fair values as of February 15, 2014, the acquisition date, and BCSB’s results of operations have been included in the Corporation’s consolidated statement of comprehensive income since that date. BCSB’s banking affiliate, Baltimore County Savings Bank, was merged into FNBPA on February 15, 2014. Based on the purchase price allocation, the Corporation recorded $42,451 in goodwill and $6,591 in core deposit intangibles as a result of the acquisition. None of the goodwill is deductible for income tax purposes. Pending Acquisition – Metro Bancorp, Inc. On August 4, 2015, the Corporation entered into a definitive merger agreement to acquire Metro Bancorp, Inc. (METR), a bank holding company based in Harrisburg, Pennsylvania with approximately $3,001,357 in total assets. The transaction is valued at approximately $474,000. Under the terms of the merger agreement, METR shareholders will be entitled to receive 2.373 shares of the Corporation’s common stock for each share of METR common stock. METR’s banking affiliate, Metro Bank, will be merged into FNBPA. The transaction is expected to be completed in the first quarter of 2016, pending regulatory approvals, the approval of shareholders and the satisfaction of other closing conditions. Pending Branch Purchase – Bank of America On May 27, 2015, the Corporation announced that it has entered into a purchase and assumption agreement to acquire approximately $280,000 in deposits and five branch-banking locations in southeastern Pennsylvania from Bank of America. The transaction is expected to close during the third quarter of 2015. |
New Accounting Standards
New Accounting Standards | 6 Months Ended |
Jun. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Standards | NEW ACCOUNTING STANDARDS Insurance – Disclosures about Short-Duration Contracts In May 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-09, Financial Services – Insurance. Cloud Computing Arrangements In April 2015, the FASB issued ASU No. 2015-05, Intangibles-Goodwill and Other-Internal-Use Software Consolidation In February 2015, the FASB issued ASU No. 2015-02, Consolidation Income Statement In January 2015, the FASB issued ASU No. 2015-01, Income Statement – Extraordinary and Unusual Items |
Securities
Securities | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | SECURITIES The amortized cost and fair value of securities are as follows: Amortized Cost Gross Gross Fair Value Securities Available for Sale June 30, 2015 U.S. Treasury $ 29,670 $ 258 $ — $ 29,928 U.S. government-sponsored entities 403,396 1,853 (1,173 ) 404,076 Residential mortgage-backed securities: Agency mortgage-backed securities 588,103 6,454 (801 ) 593,756 Agency collateralized mortgage obligations 561,212 2,324 (7,939 ) 555,597 Non-agency collateralized mortgage obligations 1,270 9 — 1,279 Commercial mortgage-backed securities 5,004 2 — 5,006 States of the U.S. and political subdivisions 11,138 359 (40 ) 11,457 Other debt securities 16,671 312 (742 ) 16,241 Total debt securities 1,616,464 11,571 (10,695 ) 1,617,340 Equity securities 975 305 — 1,280 $ 1,617,439 $ 11,876 $ (10,695 ) $ 1,618,620 Amortized Cost Gross Gross Fair Value December 31, 2014 U.S. Treasury $ 29,604 $ 78 $ — $ 29,682 U.S. government-sponsored entities 338,330 742 (1,939 ) 337,133 Residential mortgage-backed securities: Agency mortgage-backed securities 546,572 7,548 (35 ) 554,085 Agency collateralized mortgage obligations 580,601 1,617 (9,047 ) 573,171 Non-agency collateralized mortgage obligations 1,414 17 — 1,431 Commercial mortgage-backed securities 7,891 — (11 ) 7,880 States of the U.S. and political subdivisions 12,713 477 (32 ) 13,158 Other debt securities 16,615 420 (857 ) 16,178 Total debt securities 1,533,740 10,899 (11,921 ) 1,532,718 Equity securities 1,031 316 — 1,347 $ 1,534,771 $ 11,215 $ (11,921 ) $ 1,534,065 Securities Held to Maturity June 30, 2015 U.S. Treasury $ 500 $ 152 $ — $ 652 U.S. government-sponsored entities 146,561 1,054 (379 ) 147,236 Residential mortgage-backed securities: Agency mortgage-backed securities 670,817 12,981 (1,006 ) 682,792 Agency collateralized mortgage obligations 484,832 2,351 (6,793 ) 480,390 Non-agency collateralized mortgage obligations 3,375 14 (3 ) 3,386 Commercial mortgage-backed securities 17,410 231 — 17,641 States of the U.S. and political subdivisions 194,565 1,936 (2,558 ) 193,943 $ 1,518,060 $ 18,719 $ (10,739 ) $ 1,526,040 December 31, 2014 U.S. Treasury $ 502 $ 168 $ — $ 670 U.S. government-sponsored entities 101,602 885 (524 ) 101,963 Residential mortgage-backed securities: Agency mortgage-backed securities 677,169 16,712 (346 ) 693,535 Agency collateralized mortgage obligations 501,965 1,858 (7,329 ) 496,494 Non-agency collateralized mortgage obligations 4,285 28 — 4,313 Commercial mortgage-backed securities 17,560 179 — 17,739 States of the U.S. and political subdivisions 150,272 3,315 (43 ) 153,544 $ 1,453,355 $ 23,145 $ (8,242 ) $ 1,468,258 The Corporation classifies securities as trading securities when management intends to sell such securities in the near term. Such securities are carried at fair value, with unrealized gains (losses) reflected through the consolidated statements of comprehensive income. The Corporation classified certain securities acquired in conjunction with its acquisitions as trading securities. The Corporation both acquired and sold these trading securities during the quarterly periods in which each of the acquisitions occurred. As of June 30, 2015 and December 31, 2014, the Corporation did not hold any trading securities. Gross gains and gross losses were realized on securities as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Gross gains $ 14 $ 739 $ 14 $ 18,748 Gross losses — 37 (9 ) (8,511 ) $ 14 $ 776 $ 5 $ 10,237 During the first quarter of 2014, the Corporation strategically sold its entire portfolio of pooled trust preferred securities (TPS) with net proceeds of $51,540 and a gain of $13,766. These were previously classified as collateralized debt obligations (CDOs) available for sale. Of the 23 pooled securities sold, one was determined to be a disallowed investment under the Volcker Rule (Section 619) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), and as such, was required to be disposed of by July 2016. Partially offsetting this gain was a net loss of $3,529 relating to the sale of other securities. By selling these securities, the Corporation strengthened the risk profile of its investment portfolio, improved its capital levels due to lowered risk-weighted assets and generated capital to support future growth. As of June 30, 2015, the amortized cost and fair value of securities, by contractual maturities, were as follows: Available for Sale Held to Maturity Amortized Fair Value Amortized Fair Value Due in one year or less $ 4,990 $ 5,040 $ 1,010 $ 1,017 Due from one to five years 438,979 440,208 140,854 141,072 Due from five to ten years 10,014 10,304 72,031 73,550 Due after ten years 6,892 6,150 127,731 126,192 460,875 461,702 341,626 341,831 Residential mortgage-backed securities: Agency mortgage-backed securities 588,103 593,756 670,817 682,792 Agency collateralized mortgage obligations 561,212 555,597 484,832 480,390 Non-agency collateralized mortgage obligations 1,270 1,279 3,375 3,386 Commercial mortgage-backed securities 5,004 5,006 17,410 17,641 Equity securities 975 1,280 — — $ 1,617,439 $ 1,618,620 $ 1,518,060 $ 1,526,040 Maturities may differ from contractual terms because borrowers may have the right to call or prepay obligations with or without penalties. Periodic payments are received on mortgage-backed securities based on the payment patterns of the underlying collateral. At June 30, 2015 and December 31, 2014, securities with a carrying value of $1,961,096 and $1,036,380, respectively, were pledged to secure public deposits, trust deposits and for other purposes as required by law. Securities with a carrying value of $240,738 and $892,647 at June 30, 2015 and December 31, 2014, respectively, were pledged as collateral for short-term borrowings. Following are summaries of the fair values and unrealized losses of securities, segregated by length of impairment: Less than 12 Months 12 Months or More Total # Fair Value Unrealized # Fair Value Unrealized # Fair Value Unrealized Securities Available for Sale June 30, 2015 U.S. government-sponsored entities 5 $ 84,445 $ (571 ) 5 $ 55,389 $ (602 ) 10 $ 139,834 $ (1,173 ) Residential mortgage-backed securities: Agency mortgage-backed securities 11 186,261 (801 ) — — — 11 186,261 (801 ) Agency collateralized mortgage obligations 6 104,538 (563 ) 18 237,775 (7,376 ) 24 342,313 (7,939 ) States of the U.S. and political subdivisions 1 2,079 (3 ) 1 1,153 (37 ) 2 3,232 (40 ) Other debt securities — — — 4 6,150 (742 ) 4 6,150 (742 ) 23 $ 377,323 $ (1,938 ) 28 $ 300,467 $ (8,757 ) 51 $ 677,790 $ (10,695 ) Less than 12 Months 12 Months or More Total # Fair Value Unrealized # Fair Value Unrealized # Fair Value Unrealized December 31, 2014 U.S. government-sponsored entities 7 $ 89,986 $ (275 ) 7 $ 99,326 $ (1,664 ) 14 $ 189,312 $ (1,939 ) Residential mortgage-backed securities: Agency mortgage-backed securities 2 45,145 (35 ) — — — 2 45,145 (35 ) Agency collateralized mortgage obligations 9 166,908 (1,238 ) 16 225,700 (7,809 ) 25 392,608 (9,047 ) Commercial mortgage-backed securities 1 7,880 (11 ) — — — 1 7,880 (11 ) States of the U.S. and political subdivisions — — — 1 1,159 (32 ) 1 1,159 (32 ) Other debt securities — — — 4 6,030 (857 ) 4 6,030 (857 ) 19 $ 309,919 $ (1,559 ) 28 $ 332,215 $ (10,362 ) 47 $ 642,134 $ (11,921 ) Securities Held to Maturity June 30, 2015 U.S. government-sponsored entities 3 $ 44,772 $ (227 ) 1 $ 14,849 $ (152 ) 4 $ 59,621 $ (379 ) Residential mortgage-backed securities: Agency mortgage-backed securities 10 115,966 (974 ) 1 1,127 (32 ) 11 117,093 (1,006 ) Agency collateralized mortgage obligations 7 95,239 (884 ) 14 176,572 (5,909 ) 21 271,811 (6,793 ) Non-agency collateralized mortgage obligations 2 1,731 (3 ) — — — 2 1,731 (3 ) States of the U.S. and political subdivisions 45 83,795 (2,558 ) — — — 45 83,795 (2,558 ) 67 $ 341,503 $ (4,646 ) 16 $ 192,548 $ (6,093 ) 83 $ 534,051 $ (10,739 ) December 31, 2014 U.S. government-sponsored entities 2 $ 24,989 $ (40 ) 2 $ 29,516 $ (484 ) 4 $ 54,505 $ (524 ) Residential mortgage-backed securities: Agency mortgage-backed securities 1 1,099 (1 ) 4 45,042 (345 ) 5 46,141 (346 ) Agency collateralized mortgage obligations 8 104,071 (630 ) 14 189,642 (6,699 ) 22 293,713 (7,329 ) States of the U.S. and political subdivisions 1 1,427 (4 ) 4 5,453 (39 ) 5 6,880 (43 ) 12 $ 131,586 $ (675 ) 24 $ 269,653 $ (7,567 ) 36 $ 401,239 $ (8,242 ) The Corporation does not intend to sell the debt securities and it is not more likely, than not, that the Corporation will be required to sell the securities before recovery of their amortized cost basis. The Corporation’s remaining portfolio of TPS consists of four single-issuer securities, which are primarily from money-center and large regional banks and are included in other debt securities. These TPS had an amortized cost and estimated fair value of $6,892 and $6,150 at June 30, 2015, respectively. The Corporation has concluded from its analysis performed at June 30, 2015 that it is probable that the Corporation will collect all contractual principal and interest payments related to these securities. Other-Than-Temporary Impairment The Corporation evaluates its investment securities portfolio for other-than-temporary impairment (OTTI) on a quarterly basis. Impairment is assessed at the individual security level. The Corporation considers an investment security impaired if the fair value of the security is less than its cost or amortized cost basis. The following table presents a summary of the cumulative credit-related OTTI charges recognized as components of earnings for securities for which a portion of an OTTI is recognized in other comprehensive income: Collateralized Debt Obligations Equities Total For the Six Months Ended June 30, 2015 Beginning balance — $ 27 $ 27 Loss where impairment was not previously recognized — — — Additional loss where impairment was previously recognized — — — Reduction due to credit impaired securities sold — — — Ending balance — $ 27 $ 27 For the Six Months Ended June 30, 2014 Beginning balance $ 17,155 $ 27 $ 17,182 Loss where impairment was not previously recognized — — — Additional loss where impairment was previously recognized — — — Reduction due to credit impaired securities sold (17,155 ) — (17,155 ) Ending balance $ — $ 27 $ 27 The Corporation did not recognize any impairment losses on securities for the six months ended June 30, 2015 or 2014. States of the U.S. and Political Subdivisions The Corporation’s municipal bond portfolio of $206,022 as of June 30, 2015 is highly rated with an average entity-specific rating of AA and 99.0% of the portfolio rated A or better. General obligation bonds comprise 99.6% of the portfolio. Geographically, municipal bonds support the Corporation’s primary footprint as 92.5% of the securities are from municipalities located throughout Pennsylvania, Ohio and Maryland. The average holding size of the securities in the municipal bond portfolio is $1,355. In addition to the strong stand-alone ratings, 84.0% of the municipalities have some formal credit enhancement insurance that strengthens the creditworthiness of their issue. Management also reviews the credit profile of each issuer on a quarterly basis. |
Federal Home Loan Bank Stock
Federal Home Loan Bank Stock | 6 Months Ended |
Jun. 30, 2015 | |
Banking and Thrift [Abstract] | |
Federal Home Loan Bank Stock | FEDERAL HOME LOAN BANK STOCK The Corporation is a member of the Federal Home Loan Bank (FHLB) of Pittsburgh. The FHLB requires members to purchase and hold a specified minimum level of FHLB stock based upon their level of borrowings, collateral balances and participation in other programs offered by the FHLB. Stock in the FHLB is non-marketable and is redeemable at the discretion of the FHLB. Both cash and stock dividends on FHLB stock are reported as income. Members do not purchase stock in the FHLB for the same reasons that traditional equity investors acquire stock in an investor-owned enterprise. Rather, members purchase stock to obtain access to the low-cost products and services offered by the FHLB. Unlike equity securities of traditional for-profit enterprises, the stock of FHLB does not provide its holders with an opportunity for capital appreciation because, by regulation, FHLB stock can only be purchased, redeemed and transferred at par value. At June 30, 2015 and December 31, 2014, the Corporation’s FHLB stock totaled $58,047 and $54,751, respectively, and is included in other assets on the balance sheet. The Corporation accounts for the stock in accordance with ASC 325, which requires the investment to be carried at cost and evaluated for impairment based on the ultimate recoverability of the par value. Due to the continued improvement of the FHLB’s financial performance and stability over the past several years, along with a special dividend during the first quarter of 2015 and quarterly cash dividends in 2014 and 2015, the Corporation believes its holdings in the stock are ultimately recoverable at par value and, therefore, determined that FHLB stock was not other-than-temporarily impaired. In addition, the Corporation has ample liquidity and does not require redemption of its FHLB stock in the foreseeable future. |
Loans and Leases
Loans and Leases | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Loans and Leases | LOANS AND LEASES Following is a summary of loans and leases, net of unearned income: Originated Loans Acquired Loans Total Loans and June 30, 2015 Commercial real estate $ 3,178,219 $ 674,388 $ 3,852,607 Commercial and industrial 2,343,213 110,655 2,453,868 Commercial leases 190,881 — 190,881 Total commercial loans and leases 5,712,313 785,043 6,497,356 Direct installment 1,623,290 53,059 1,676,349 Residential mortgages 953,840 396,662 1,350,502 Indirect installment 941,851 950 942,801 Consumer lines of credit 972,474 146,496 1,118,970 Other 40,809 — 40,809 $ 10,244,577 $ 1,382,210 $ 11,626,787 December 31, 2014 Commercial real estate $ 3,031,810 $ 783,898 $ 3,815,708 Commercial and industrial 2,197,793 120,222 2,318,015 Commercial leases 177,824 — 177,824 Total commercial loans and leases 5,407,427 904,120 6,311,547 Direct installment 1,579,770 64,851 1,644,621 Residential mortgages 817,586 445,467 1,263,053 Indirect installment 873,645 1,906 875,551 Consumer lines of credit 946,427 164,549 1,110,976 Other 41,290 — 41,290 $ 9,666,145 $ 1,580,893 $ 11,247,038 Commercial real estate includes both owner-occupied and non-owner-occupied loans secured by commercial properties. Commercial and industrial includes loans to businesses that are not secured by real estate. Commercial leases are made for new or used equipment. Direct installment is comprised of fixed-rate, closed-end consumer loans for personal, family or household use, such as home equity loans and automobile loans. Residential mortgages consist of conventional and jumbo mortgage loans for non-commercial properties. Indirect installment is comprised of loans originated by third parties and underwritten by the Corporation, primarily automobile loans. Consumer lines of credit include home equity lines of credit (HELOC) and consumer lines of credit that are either unsecured or secured by collateral other than home equity. Other is comprised primarily of credit cards, mezzanine loans and student loans. The loan and lease portfolio consists principally of loans to individuals and small- and medium-sized businesses within the Corporation’s primary market area of Pennsylvania, eastern Ohio, Maryland and northern West Virginia. The total loan portfolio contains consumer finance loans to individuals in Pennsylvania, Ohio, Tennessee and Kentucky, which totaled $178,455 or 1.5% of total loans and leases at June 30, 2015, compared to $180,588 or 1.6% of total loans and leases at December 31, 2014. Due to the relative size of the consumer finance loan portfolio, they are not segregated from other consumer loans. As of June 30, 2015, 40.4% of the commercial real estate loans were owner-occupied, while the remaining 59.6% were non-owner-occupied, compared to 41.6% and 58.4%, respectively, as of December 31, 2014. As of June 30, 2015 and December 31, 2014, the Corporation had commercial construction loans of $243,382 and $296,156, respectively, representing 2.1% and 2.6% of total loans and leases at those respective dates. Acquired Loans All acquired loans were initially recorded at fair value at the acquisition date. The outstanding balance and the carrying amount of acquired loans included in the consolidated balance sheet are as follows: June 30, 2015 December 31, Accounted for under ASC 310-30: Outstanding balance $ 1,423,534 $ 1,597,558 Carrying amount 1,169,717 1,344,171 Accounted for under ASC 310-20: Outstanding balance 219,358 242,488 Carrying amount 205,548 228,748 Total acquired loans: Outstanding balance 1,642,892 1,840,046 Carrying amount 1,375,265 1,572,919 The carrying amount of purchased credit impaired loans included in the table above totaled $8,808 at June 30, 2015 and $9,556 at December 31, 2014, representing less than 1% of the carrying amount of total acquired loans as of each date. The following table provides changes in accretable yield for all acquired loans accounted for under ASC 310-30. Loans accounted for under ASC 310-20 are not included in this table. Six Months Ended June 30, 2015 2014 Balance at beginning of period $ 331,899 $ 305,646 Reduction due to unexpected early payoffs (25,735 ) (18,821 ) Reclass from non-accretable difference 15,653 2,605 Disposals/transfers (348 ) (2,130 ) Accretion (31,656 ) (28,275 ) Balance at end of period $ 289,813 $ 259,025 Credit Quality Management monitors the credit quality of the Corporation’s loan and lease portfolio on an ongoing basis. Measurement of delinquency and past due status is based on the contractual terms of each loan. Non-performing loans include non-accrual loans and non-performing troubled debt restructurings (TDRs). Past due loans are reviewed on a monthly basis to identify loans for non-accrual status. The Corporation places a loan on non-accrual status and discontinues interest accruals on originated loans generally when principal or interest is due and has remained unpaid for a certain number of days, or when the full amount of principal and interest due is not expected to be collected in full, unless the loan is both well secured and in the process of collection. Commercial loans are placed on non-accrual at 90 days, installment loans are placed on non-accrual at 120 days and residential mortgages and consumer lines of credit are generally placed on non-accrual at 180 days. When a loan is placed on non-accrual status, all unpaid interest is reversed. Non-accrual loans may not be restored to accrual status until all delinquent principal and interest have been paid and the ultimate ability to collect the remaining principal and interest is reasonably assured. TDRs are loans in which the borrower has been granted a concession on the interest rate or the original repayment terms due to financial distress. Following is a summary of non-performing assets: June 30, 2015 December 31, Non-accrual loans $ 45,396 $ 45,113 Troubled debt restructurings 22,916 23,439 Total non-performing loans 68,312 68,552 Other real estate owned (OREO) 40,190 41,466 Total non-performing assets $ 108,502 $ 110,018 Asset quality ratios: Non-performing loans as a percent of total loans and leases 0.59 % 0.61 % Non-performing loans + OREO as a percent of total loans and leases + OREO 0.93 % 0.97 % Non-performing assets as a percent of total assets 0.65 % 0.68 % The carrying value of residential OREO held as a result of obtaining physical possession upon completion of a foreclosure or through completion of a deed in lieu of foreclosure amounted to $5,138 at June 30, 2015. Also, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process at June 30, 2015 amounted to $13,154. The following tables provide an analysis of the aging of the Corporation’s past due loans by class, segregated by loans and leases originated and loans acquired: 30-89 Days Past Due ³ 90 Days Non-Accrual Total Past Due Current Total Loans and Originated Loans and Leases June 30, 2015 Commercial real estate $ 6,054 $ 3 $ 24,652 $ 30,709 $ 3,147,510 $ 3,178,219 Commercial and industrial 2,800 3 8,966 11,769 2,331,444 2,343,213 Commercial leases 818 — 699 1,517 189,364 190,881 Total commercial loans and leases 9,672 6 34,317 43,995 5,668,318 5,712,313 Direct installment 9,414 2,969 5,656 18,039 1,605,251 1,623,290 Residential mortgages 8,198 1,536 3,767 13,501 940,339 953,840 Indirect installment 7,040 358 898 8,296 933,555 941,851 Consumer lines of credit 2,192 975 694 3,861 968,613 972,474 Other 65 73 — 138 40,671 40,809 $ 36,581 $ 5,917 $ 45,332 $ 87,830 $ 10,156,747 $ 10,244,577 December 31, 2014 Commercial real estate $ 9,601 $ 313 $ 24,132 $ 34,046 $ 2,997,764 $ 3,031,810 Commercial and industrial 2,446 3 8,310 10,759 2,187,034 2,197,793 Commercial leases 961 43 722 1,726 176,098 177,824 Total commercial loans and leases 13,008 359 33,164 46,531 5,360,896 5,407,427 Direct installment 9,333 3,617 7,117 20,067 1,559,703 1,579,770 Residential mortgages 8,709 3,891 2,964 15,564 802,022 817,586 Indirect installment 7,804 684 1,149 9,637 864,008 873,645 Consumer lines of credit 2,408 562 719 3,689 942,738 946,427 Other 13 135 — 148 41,142 41,290 $ 41,275 $ 9,248 $ 45,113 $ 95,636 $ 9,570,509 $ 9,666,145 30-89 Days Past Due ³ 90 Days and Still Non- Accrual Total Past Due (1) (2) Current Discount Total Loans Acquired Loans June 30, 2015 Commercial real estate $ 10,618 $ 11,098 $ — $ 21,716 $ 691,401 $ (38,729 ) $ 674,388 Commercial and industrial 528 756 64 1,348 117,132 (7,825 ) 110,655 Total commercial loans 11,146 11,854 64 23,064 808,533 (46,554 ) 785,043 Direct installment 1,108 1,057 — 2,165 49,963 931 53,059 Residential mortgages 7,909 15,688 — 23,597 410,919 (37,854 ) 396,662 Indirect installment 21 17 — 38 1,149 (237 ) 950 Consumer lines of credit 654 1,474 — 2,128 148,470 (4,102 ) 146,496 $ 20,838 $ 30,090 $ 64 $ 50,992 $ 1,419,034 $ (87,816 ) $ 1,382,210 December 31, 2014 Commercial real estate $ 12,076 $ 12,368 — $ 24,444 $ 799,991 $ (40,537 ) $ 783,898 Commercial and industrial 687 1,968 — 2,655 127,535 (9,968 ) 120,222 Total commercial loans 12,763 14,336 — 27,099 927,526 (50,505 ) 904,120 Direct installment 2,670 1,443 — 4,113 59,532 1,206 64,851 Residential mortgages 8,159 19,936 — 28,095 456,810 (39,438 ) 445,467 Indirect installment 38 30 — 68 2,179 (341 ) 1,906 Consumer lines of credit 1,048 2,279 — 3,327 166,912 (5,690 ) 164,549 $ 24,678 $ 38,024 — $ 62,702 $ 1,612,959 $ (94,768 ) $ 1,580,893 (1) Past due information for acquired loans is based on the contractual balance outstanding at June 30, 2015 and December 31, 2014. (2) Acquired loans are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if the Corporation can reasonably estimate the timing and amount of expected cash flows on such loans. Accordingly, the Corporation does not consider acquired contractually delinquent loans to be non-accrual or non-performing and continues to recognize interest income on these loans using the accretion method. The Corporation utilizes the following categories to monitor credit quality within its commercial loan and lease portfolio: Rating Category Definition Pass in general, the condition and performance of the borrower is satisfactory or better Special Mention in general, the condition of the borrower has deteriorated, requiring an increased level of monitoring Substandard in general, the condition and performance of the borrower has significantly deteriorated and could further deteriorate if deficiencies are not corrected Doubtful in general, the condition of the borrower has significantly deteriorated and the collection in full of both principal and interest is highly questionable or improbable The use of these internally assigned credit quality categories within the commercial loan and lease portfolio permits management’s use of transition matrices to estimate a quantitative portion of credit risk. The Corporation’s internal credit risk grading system is based on past experiences with similarly graded loans and leases and conforms with regulatory categories. In general, loan and lease risk ratings within each category are reviewed on an ongoing basis according to the Corporation’s policy for each class of loans and leases. Each quarter, management analyzes the resulting ratings, as well as other external statistics and factors such as delinquency, to track the migration performance of the commercial loan and lease portfolio. Loans and leases within the Pass credit category or that migrate toward the Pass credit category generally have a lower risk of loss compared to loans and leases that migrate toward the Substandard or Doubtful credit categories. Accordingly, management applies higher risk factors to Substandard and Doubtful credit categories. The following tables present a summary of the Corporation’s commercial loans and leases by credit quality category, segregated by loans and leases originated and loans acquired: Commercial Loan and Lease Credit Quality Categories Pass Special Substandard Doubtful Total Originated Loans and Leases June 30, 2015 Commercial real estate $ 3,056,070 $ 59,893 $ 61,601 $ 655 $ 3,178,219 Commercial and industrial 2,244,956 60,547 36,140 1,570 2,343,213 Commercial leases 187,988 2,002 891 — 190,881 $ 5,489,014 $ 122,442 $ 98,632 $ 2,225 $ 5,712,313 December 31, 2014 Commercial real estate $ 2,890,830 $ 58,630 $ 81,951 $ 399 $ 3,031,810 Commercial and industrial 2,085,893 71,420 39,684 796 2,197,793 Commercial leases 174,677 2,198 949 — 177,824 $ 5,151,400 $ 132,248 $ 122,584 $ 1,195 $ 5,407,427 Acquired Loans June 30, 2015 Commercial real estate $ 533,067 $ 61,595 $ 79,726 — $ 674,388 Commercial and industrial 97,178 4,076 9,401 — 110,655 $ 630,245 $ 65,671 $ 89,127 — $ 785,043 December 31, 2014 Commercial real estate $ 610,260 $ 73,891 $ 99,747 — $ 783,898 Commercial and industrial 103,862 3,506 12,854 — 120,222 $ 714,122 $ 77,397 $ 112,601 — $ 904,120 Credit quality information for acquired loans is based on the contractual balance outstanding at June 30, 2015 and December 31, 2014. The Corporation uses delinquency transition matrices within the consumer and other loan classes to enable management to estimate a quantitative portion of credit risk. Each month, management analyzes payment and volume activity, FICO scores and other external factors such as unemployment, to determine how consumer loans are performing. Following is a table showing originated consumer loans by payment status: Consumer Loan Credit Quality by Payment Status Performing Non- Performing Total June 30, 2015 Direct installment $ 1,608,934 $ 14,356 $ 1,623,290 Residential mortgages 939,368 14,472 953,840 Indirect installment 940,799 1,052 941,851 Consumer lines of credit 970,554 1,920 972,474 Other 40,809 — 40,809 December 31, 2014 Direct installment $ 1,565,090 $ 14,680 $ 1,579,770 Residential mortgages 802,522 15,064 817,586 Indirect installment 872,340 1,305 873,645 Consumer lines of credit 944,631 1,796 946,427 Other 41,290 — 41,290 Loans and leases are designated as impaired when, in the opinion of management, based on current information and events, the collection of principal and interest in accordance with the loan and lease contract is doubtful. Typically, the Corporation does not consider loans and leases for impairment unless a sustained period of delinquency (i.e., 90-plus days) is noted or there are subsequent events that impact repayment probability (i.e., negative financial trends, bankruptcy filings, imminent foreclosure proceedings, etc.). Impairment is evaluated in the aggregate for consumer installment loans, residential mortgages, consumer lines of credit and commercial loan and lease relationships less than $500 based on loan and lease segment loss given default. For commercial loan relationships greater than or equal to $500, a specific valuation allowance is allocated, if necessary, so that the loan is reported net, at the present value of estimated future cash flows using a market interest rate or at the fair value of collateral if repayment is expected solely from the collateral. Consistent with the Corporation’s existing method of income recognition for loans and leases, interest on impaired loans, except those classified as non-accrual, is recognized as income using the accrual method. Impaired loans, or portions thereof, are charged off when deemed uncollectible. Following is a summary of information pertaining to originated loans and leases considered to be impaired, by class of loan and lease: Unpaid Principal Balance Recorded Investment Reserve Recorded Investment Specific Reserve Total Recorded Investment Specific Average Recorded Investment At or for the Six Months Ended June 30, 2015 Commercial real estate $ 35,137 $ 25,753 $ 822 $ 26,575 $ 655 $ 26,301 Commercial and industrial 10,130 7,325 1,909 9,234 1,570 9,650 Commercial leases 699 699 — 699 — 716 Total commercial loans and leases 45,966 33,777 2,731 36,508 2,225 36,667 Direct installment 15,043 14,356 — 14,356 — 14,322 Residential mortgages 14,962 14,472 — 14,472 — 15,076 Indirect installment 2,782 1,052 — 1,052 — 1,208 Consumer lines of credit 2,079 1,920 — 1,920 — 1,808 Other — — — — — — $ 80,832 $ 65,577 $ 2,731 $ 68,308 $ 2,225 $ 69,081 At or for the Year Ended December 31, 2014 Commercial real estate $ 34,583 $ 25,443 $ 883 $ 26,326 $ 399 $ 30,807 Commercial and industrial 11,412 7,609 1,948 9,557 780 9,510 Commercial leases 722 722 — 722 — 686 Total commercial loans and leases 46,717 33,774 2,831 36,605 1,179 41,003 Direct installment 14,987 14,680 — 14,680 — 14,248 Residential mortgages 16,791 15,064 — 15,064 — 16,924 Indirect installment 1,467 1,305 — 1,305 — 1,399 Consumer lines of credit 1,803 1,796 — 1,796 — 1,793 Other — — — — — — $ 81,765 $ 66,619 $ 2,831 $ 69,450 $ 1,179 $ 75,367 Interest income is generally no longer recognized once a loan becomes impaired. These tables do not reflect the additional allowance for credit losses relating to acquired loans in the following pools and categories: commercial real estate of $3,454; commercial and industrial of $607; direct installment of $1,562; residential mortgages of $752; indirect installment of $284; and consumer lines of credit of $286, totaling $6,945 at June 30, 2015 and commercial real estate of $3,286; commercial and industrial of $1,484; direct installment of $1,847; residential mortgages of $858; indirect installment of $232; and consumer lines of credit of $267, totaling $7,974 at December 31, 2014. Troubled Debt Restructurings TDRs are loans whose contractual terms have been modified in a manner that grants a concession to a borrower experiencing financial difficulties. TDRs typically result from loss mitigation activities and could include the extension of a maturity date, interest rate reduction, principal forgiveness, deferral or decrease in payments for a period of time and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of collateral. Following is a summary of the payment status of total TDRs: June 30, 2015 December 31, Accruing: Performing $ 11,669 $ 9,441 Non-performing 22,916 23,439 Non-accrual 8,406 8,272 $ 42,991 $ 41,152 TDRs that are accruing and performing include loans that met the criteria for non-accrual of interest prior to restructuring for which the Corporation can reasonably estimate the timing and amount of the expected cash flows on such loans and for which the Corporation expects to fully collect the new carrying value of the loans. During the six months ended June 30, 2015, the Corporation returned to performing status $3,831 in restructured residential mortgage loans that have consistently met their modified obligations for more than six months. TDRs that are accruing and non-performing are comprised of consumer loans that have not demonstrated a consistent repayment pattern on the modified terms for more than six months, however it is expected that the Corporation will collect all future principal and interest payments. TDRs that are on non-accrual are not placed on accruing status until all delinquent principal and interest have been paid and the ultimate collectability of the remaining principal and interest is reasonably assured. Some loan modifications classified as TDRs may not ultimately result in the full collection of principal and interest, as modified, and may result in potential incremental losses which are factored into the allowance for credit losses. Excluding purchased impaired loans, commercial loans over $500 whose terms have been modified in a TDR are generally placed on non-accrual, individually analyzed and measured for estimated impairment based on the fair value of the underlying collateral. The Corporation’s allowance for credit losses included specific reserves for commercial TDRs of $510 and $371 at June 30, 2015 and December 31, 2014, respectively, and pooled reserves for individual loans under $500 of $1,086 and $1,215 for those same respective periods, based on loan segment loss given default. Upon default, the amount of the recorded investment in the TDR in excess of the fair value of the collateral, less estimated selling costs, is generally considered a confirmed loss and is charged-off against the allowance for credit losses. All other classes of loans, which are primarily secured by residential properties, whose terms have been modified in a TDR are pooled and measured for estimated impairment based on the expected net present value of the estimated future cash flows of the pool. The Corporation’s allowance for credit losses included pooled reserves for these classes of loans of $4,936 and $3,448 at June 30, 2015 and December 31, 2014, respectively. Upon default of an individual loan, the Corporation’s charge-off policy is followed accordingly for that class of loan. The majority of TDRs are the result of interest rate concessions for a limited period of time. Following is a summary of loans, by class, that have been restructured: Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Number of Contracts Pre-Modification Recorded Investment Post- Outstanding Recorded Investment Number of Contracts Pre-Modification Recorded Investment Post- Outstanding Recorded Investment Commercial real estate — $ — $ — 2 $ 312 $ 176 Commercial and industrial 1 5 4 1 5 4 Total commercial loans 1 5 4 3 317 180 Direct installment 110 1,761 1,729 241 3,310 3,201 Residential mortgages 7 231 234 21 812 846 Indirect installment 5 14 13 10 30 30 Consumer lines of credit 14 250 249 30 520 519 Other — — — — — — 137 $ 2,261 $ 2,229 305 $ 4,989 $ 4,776 Three Months Ended June 30, 2014 Six Months Ended June 30, 2014 Number of Contracts Pre-Modification Recorded Investment Post- Outstanding Recorded Investment Number of Contracts Pre-Modification Recorded Investment Post- Outstanding Recorded Investment Commercial real estate 8 $ 2,508 $ 2,496 9 $ 2,581 $ 2,553 Commercial and industrial — — — 1 188 188 Total commercial loans 8 2,508 2,496 10 2,769 2,741 Direct installment 136 1,873 1,843 262 3,573 3,479 Residential mortgages 15 1,070 1,045 24 1,359 1,324 Indirect installment 6 18 16 13 34 32 Consumer lines of credit 18 555 553 25 812 807 Other — — — — — — 183 $ 6,024 $ 5,953 334 $ 8,547 $ 8,383 Following is a summary of TDRs, by class of loans and leases, for which there was a payment default, excluding loans that were either charged-off or cured by period end. Default occurs when a loan is 90 days or more past due and is within 12 months of restructuring. Three Months Ended June 30, 2015 (1) Six Months Ended June 30, 2015 (1) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial real estate — $ — — $ — Commercial and industrial 1 229 1 229 Total commercial loans 1 229 1 229 Direct installment 27 96 58 182 Residential mortgages 3 114 4 171 Indirect installment 3 7 5 7 Consumer lines of credit — — 1 92 Other — — — — 34 $ 446 69 $ 681 Three Months Ended June 30, 2014 (1) Six Months Ended June 30, 2014 (1) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial real estate — $ — — $ — Commercial and industrial — — — — Total commercial loans — — — — Direct installment 33 240 47 392 Residential mortgages — — — — Indirect installment 1 — 1 — Consumer lines of credit — — — — Other — — — — Direct installment 34 $ 240 48 $ 392 (1) The recorded investment is as of period end. |
Allowance for Credit Losses
Allowance for Credit Losses | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Allowance for Credit Losses | ALLOWANCE FOR CREDIT LOSSES The allowance for credit losses is established as losses are estimated to have occurred through a provision charged to earnings. Losses are charged against the allowance for credit losses when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance for credit losses. Allowances for impaired commercial loans over $500 are generally determined based on collateral values or the present value of estimated cash flows. All other impaired loans and leases are evaluated in the aggregate based on loan segment loss given default. Changes in the allowance for credit losses related to impaired loans and leases are charged or credited to the provision for credit losses. The allowance for credit losses is maintained at a level that, in management’s judgment, is believed adequate to absorb probable losses associated with specifically identified loans and leases, as well as estimated probable credit losses inherent in the remainder of the portfolio. Adequacy of the allowance for credit losses is based on management’s evaluation of potential losses in the portfolio, which includes an assessment of past experience, current economic conditions in specific industries and geographic areas, general economic conditions, known and inherent risks in the portfolio, the estimated value of underlying collateral and residuals and changes in the composition of the portfolio. Determination of the allowance for credit losses is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans and leases, estimated losses on pools of homogeneous loans and leases based on transition matrices with predefined loss emergence periods and consideration of qualitative factors, all of which are susceptible to significant change. Credit impaired loans obtained through acquisitions are accounted for under the provisions of ASC 310-30. The Corporation also accounts for certain acquired loans considered performing at the time of acquisition by analogy to ASC 310-30. ASC 310-30 requires the initial recognition of acquired loans at the present value of amounts expected to be received. Any deterioration in the credit quality of acquired loans subsequent to acquisition would be considered in the allowance for credit losses. Following is a summary of changes in the allowance for credit losses, by loan and lease class: Balance at Beginning Charge- Recoveries Net Charge- Provision Balance at End of Three Months Ended June 30, 2015 Commercial real estate $ 38,792 $ (977 ) $ 200 $ (777 ) $ 1,857 $ 39,872 Commercial and industrial 32,803 (1,416 ) 976 (440 ) (58 ) 32,305 Commercial leases 2,576 (111 ) 35 (76 ) (277 ) 2,223 Total commercial loans and leases 74,171 (2,504 ) 1,211 (1,293 ) 1,522 74,400 Direct installment 21,204 (2,953 ) 297 (2,656 ) 3,731 22,279 Residential mortgages 8,471 (112 ) 24 (88 ) 196 8,579 Indirect installment 7,657 (1,503 ) 332 (1,171 ) 2,423 8,909 Consumer lines of credit 8,890 (323 ) 36 (287 ) 515 9,118 Other 854 (325 ) 25 (300 ) 357 911 Total allowance on originated loans and leases 121,247 (7,720 ) 1,925 (5,795 ) 8,744 124,196 Purchased credit-impaired loans 621 — — — 37 658 Other acquired loans 6,631 (468 ) 41 (427 ) 83 6,287 Total allowance on acquired loans 7,252 (468 ) 41 (427 ) 120 6,945 Total allowance $ 128,499 $ (8,188 ) $ 1,966 $ (6,222 ) $ 8,864 $ 131,141 Six Months Ended June 30, 2015 Commercial real estate $ 37,588 $ (1,978 ) $ 409 $ (1,569 ) $ 3,853 $ 39,872 Commercial and industrial 32,645 (2,100 ) 1,096 (1,004 ) 664 32,305 Commercial leases 2,398 (204 ) 45 (159 ) (16 ) 2,223 Total commercial loans and leases 72,631 (4,282 ) 1,550 (2,732 ) 4,501 74,400 Direct installment 20,538 (5,386 ) 566 (4,820 ) 6,561 22,279 Residential mortgages 8,024 (623 ) 39 (584 ) 1,139 8,579 Indirect installment 7,504 (2,783 ) 634 (2,149 ) 3,554 8,909 Consumer lines of credit 8,496 (733 ) 76 (657 ) 1,279 9,118 Other 759 (660 ) 36 (624 ) 776 911 Total allowance on originated loans and leases 117,952 (14,467 ) 2,901 (11,566 ) 17,810 124,196 Purchased credit-impaired loans 660 (64 ) 19 (45 ) 43 658 Other acquired loans 7,314 (545 ) 371 (174 ) (853 ) 6,287 Total allowance on acquired loans 7,974 (609 ) 390 (219 ) (810 ) 6,945 Total allowance $ 125,926 $ (15,076 ) $ 3,291 $ (11,785 ) $ 17,000 $ 131,141 Balance at Beginning Charge- Recoveries Net Charge- Provision Balance at End of Three Months Ended June 30, 2014 Commercial real estate $ 38,534 $ (1,572 ) $ 263 $ (1,309 ) $ 1,253 $ 38,478 Commercial and industrial 29,971 (540 ) 168 (372 ) 3,418 33,017 Commercial leases 1,944 (63 ) 53 (10 ) 145 2,079 Total commercial loans and leases 70,449 (2,175 ) 484 (1,691 ) 4,816 73,574 Direct installment 16,630 (2,264 ) 283 (1,981 ) 2,195 16,844 Residential mortgages 5,307 (137 ) 44 (93 ) 292 5,506 Indirect installment 6,500 (696 ) 230 (466 ) 659 6,693 Consumer lines of credit 7,658 (340 ) 38 (302 ) 308 7,664 Other 579 (307 ) 5 (302 ) 630 907 Total allowance on originated loans and leases 107,123 (5,919 ) 1,084 (4,835 ) 8,900 111,188 Purchased credit-impaired loans 708 (1,653 ) — (1,653 ) 1,393 448 Other acquired loans 4,388 (126 ) 738 612 112 5,112 Total allowance on acquired loans 5,096 (1,779 ) 738 (1,041 ) 1,505 5,560 Total allowance $ 112,219 $ (7,698 ) $ 1,822 $ (5,876 ) $ 10,405 $ 116,748 Six Months Ended June 30, 2014 Commercial real estate $ 32,548 $ (3,795 ) $ 562 $ (3,233 ) $ 9,163 $ 38,478 Commercial and industrial 32,603 (1,053 ) 538 (515 ) 929 33,017 Commercial leases 1,903 (150 ) 82 (68 ) 244 2,079 Total commercial loans and leases 67,054 (4,998 ) 1,182 (3,816 ) 10,336 73,574 Direct installment 17,824 (4,785 ) 550 (4,235 ) 3,255 16,844 Residential mortgages 5,836 (269 ) 48 (221 ) (109 ) 5,506 Indirect installment 6,409 (1,498 ) 447 (1,051 ) 1,335 6,693 Consumer lines of credit 7,231 (663 ) 93 (570 ) 1,003 7,664 Other 530 (569 ) 10 (559 ) 936 907 Total allowance on originated loans and leases 104,884 (12,782 ) 2,330 (10,452 ) 16,756 111,188 Purchased credit-impaired loans 1,000 (1,902 ) — (1,902 ) 1,350 448 Other acquired loans 4,900 (117 ) 1,024 907 (695 ) 5,112 Total allowance on acquired loans 5,900 (2,019 ) 1,024 (995 ) 655 5,560 Total allowance $ 110,784 $ (14,801 ) $ 3,354 $ (11,447 ) $ 17,411 $ 116,748 Following is a summary of the individual and collective originated allowance for credit losses and corresponding loan and lease balances by class: Allowance Loans and Leases Outstanding Individually Evaluated for Impairment Collectively Evaluated for Impairment Loans and Individually Evaluated for Impairment Collectively Evaluated for Impairment June 30, 2015 Commercial real estate $ 655 $ 39,217 $ 3,178,219 $ 13,713 $ 3,164,506 Commercial and industrial 1,570 30,735 2,343,213 5,585 2,337,628 Commercial leases — 2,223 190,881 — 190,881 Total commercial loans and leases 2,225 72,175 5,712,313 19,298 5,693,015 Direct installment — 22,279 1,623,290 — 1,623,290 Residential mortgages — 8,579 953,840 — 953,840 Indirect installment — 8,909 941,851 — 941,851 Consumer lines of credit — 9,118 972,474 — 972,474 Other — 911 40,809 — 40,809 $ 2,225 $ 121,971 $ 10,244,577 $ 19,298 $ 10,225,279 December 31, 2014 Commercial real estate $ 399 $ 37,189 $ 3,031,810 $ 13,952 $ 3,017,858 Commercial and industrial 780 31,865 2,197,793 5,837 2,191,956 Commercial leases — 2,398 177,824 — 177,824 Total commercial loans and leases 1,179 71,452 5,407,427 19,789 5,387,638 Direct installment — 20,538 1,579,770 — 1,579,770 Residential mortgages — 8,024 817,586 — 817,586 Indirect installment — 7,504 873,645 — 873,645 Consumer lines of credit — 8,496 946,427 — 946,427 Other — 759 41,290 — 41,290 $ 1,179 $ 116,773 $ 9,666,145 $ 19,789 $ 9,646,356 |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Borrowings | BORROWINGS Following is a summary of short-term borrowings: June 30, 2015 December 31, Securities sold under repurchase agreements $ 212,380 $ 882,696 Federal Home Loan Bank advances 840,000 820,000 Federal funds purchased 330,000 210,000 Subordinated notes 125,202 128,962 $ 1,507,582 $ 2,041,658 Securities sold under repurchase agreements is comprised of customer repurchase agreements, which are sweep accounts with next day maturities utilized by larger commercial customers to earn interest on their funds. Securities are pledged to these customers in an amount equal to the outstanding balance. Following is a summary of long-term borrowings: June 30, 2015 December 31, Federal Home Loan Bank advances $ 400,017 $ 400,042 Subordinated notes 84,289 83,155 Junior subordinated debt 58,272 58,246 $ 542,578 $ 541,443 The Corporation’s banking affiliate has available credit with the FHLB of $4,393,116 of which $1,240,018 was used as of June 30, 2015. These advances are secured by loans collateralized by residential mortgages, HELOCs, commercial real estate and FHLB stock and are scheduled to mature in various amounts periodically through the year 2021. Effective interest rates paid on the long-term advances ranged from 0.76% to 4.19% for both the six months ended June 30, 2015 and the year ended December 31, 2014. The Corporation had two unconsolidated subsidiary trusts as of June 30, 2015 (collectively, the Trusts): F.N.B. Statutory Trust II and Omega Financial Capital Trust I. One hundred percent of the common equity of each Trust is owned by the Corporation. The Trusts were formed for the purpose of issuing Corporation-obligated mandatorily redeemable capital securities (TPS) to third-party investors. The proceeds from the sale of TPS and the issuance of common equity by the Trusts were invested in junior subordinated debt securities (subordinated debt) issued by the Corporation, which are the sole assets of each Trust. Since third-party investors are the primary beneficiaries, the Trusts are not consolidated in the Corporation’s financial statements. The Trusts pay dividends on the TPS at the same rate as the distributions paid by the Corporation on the junior subordinated debt held by the Trusts. Omega Financial Capital Trust I was assumed as a result of an acquisition. Distributions on the subordinated debt issued to the Trusts are recorded as interest expense by the Corporation. The TPS are subject to mandatory redemption, in whole or in part, upon repayment of the subordinated debt. The TPS are eligible for redemption, at any time, at the Corporation’s discretion. Under recently issued capital guidelines, effective January 1, 2015, the portion of the subordinated debt, net of the Corporation’s investments in the Trusts, that qualifies as tier 1 capital is limited to 25% of the total $57,500 outstanding at June 30, 2015, with the remaining 75% moving to tier 2 capital. In 2016, the entire balance of the subordinated debt will be included in tier 2 capital. The Corporation has entered into agreements which, when taken collectively, fully and unconditionally guarantee the obligations under the TPS subject to the terms of each of the guarantees. The following table provides information relating to the Trusts as of June 30, 2015: Trust Preferred Securities Common Securities Junior Subordinated Debt Stated Maturity Date Interest Rate F.N.B. Statutory Trust II $ 21,500 $ 665 $ 22,165 6/15/36 1.94 % Variable; 3-month LIBOR + 165 basis points (bps) Omega Financial Capital Trust I 36,000 1,114 36,107 10/18/34 2.47 % Variable; 3-month LIBOR + 219 bps $ 57,500 $ 1,779 $ 58,272 |
Derivative and Hedging Activiti
Derivative and Hedging Activities | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative and Hedging Activities | DERIVATIVE AND HEDGING ACTIVITIES The Corporation is exposed to certain risks arising from both its business operations and economic conditions. The Corporation principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Corporation manages economic risks, including interest rate risk, primarily by managing the amount, source, and duration of its assets and liabilities, and through the use of derivative instruments. Derivative instruments are used to reduce the effects that changes in interest rates may have on net income and cash flows. The Corporation also uses derivative instruments to facilitate transactions on behalf of its customers. All derivatives are carried on the consolidated balance sheet at fair value and do not take into account the effects of master netting arrangements the Corporation has with other financial institutions. Credit risk is included in the determination of the estimated fair value of derivatives. Derivative assets are classified in the consolidated balance sheet under other assets and derivative liabilities are classified in the consolidated balance sheet under other liabilities. Changes in fair value are recognized in earnings except for certain changes related to derivative instruments designated as part of a cash flow hedging relationship. The following table presents notional amounts and gross fair values of all derivative assets and derivative liabilities held by the Corporation: June 30, 2015 December 31, 2014 Notional Fair Value Notional Fair Value Amount Asset Liability Amount Asset Liability Gross Derivatives Subject to master netting arrangements: Interest rate contracts – designated $ 200,000 $ 1,867 $ 1,869 $ 200,000 $ 2,109 $ 2,330 Interest rate swaps – not designated 1,080,889 491 40,943 972,002 140 43,655 Equity contracts – not designated 1,210 17 — 1,210 47 — Total subject to master netting arrangements 1,282,099 2,375 42,812 1,173,212 2,296 45,985 Not subject to master netting arrangements: Interest rate swaps – not designated 1,080,889 40,664 377 972,002 43,602 128 Credit risk contracts – not designated 102,700 10 114 68,632 — — Equity contracts – not designated 1,210 — 16 1,210 — 47 Total not subject to master netting arrangements 1,184,799 40,674 507 1,041,844 43,602 175 $ 2,466,898 $ 43,049 $ 43,319 $ 2,215,056 $ 45,898 $ 46,160 Derivatives Designated as Hedging Instruments under GAAP Interest Rate Contracts. At June 30, 2015 and December 31, 2014, the notional amount of these interest rate derivative agreements totaled $200,000. Fair values included in other assets and other liabilities on the consolidated balance sheet applicable to these agreements amounted to $1,867 and $1,869, respectively, at June 30, 2015, and $2,109 and $2,330, respectively, at December 31, 2014. For the six months ended June 30, 2015, the amount reclassified from accumulated other comprehensive income (AOCI) to interest income on loans and leases totaled $1,623 ($1,055 net of tax). As of June 30, 2015, the maximum length of time over which forecasted interest cash flows are hedged is eight years. In the twelve months that follow June 30, 2015, the Corporation expects to reclassify from the amount currently reported in AOCI net derivative gains of $2,817 ($1,831 net of tax), in association with interest received on the hedged loans. This amount could differ from amounts actually recognized due to changes in interest rates, hedge de-designations, and the addition of other hedges subsequent to June 30, 2015. There were no components of derivative gains or losses excluded from the assessment of hedge effectiveness related to these cash flow hedges. For the six months ended June 30, 2015 and 2014, there was no hedge ineffectiveness. Also, during the six months ended June 30, 2015 and 2014, there were no gains or losses from cash flow hedge derivatives reclassified to earnings because it became probable that the original forecasted transactions would not occur. Derivatives Not Designated as Hedging Instruments under GAAP Interest Rate Swaps. The Corporation enters into positions with a derivative counterparty in order to offset its exposure on the fixed components of the customer interest rate swap agreements. The Corporation seeks to minimize counterparty credit risk by entering into transactions only with high-quality financial dealer institutions. These arrangements meet the definition of derivatives, but are not designated as hedging instruments under ASC 815, Derivatives and Hedging. The notional amount of these customer derivative agreements and the offsetting derivative counterparty positions each totaled $1,080,889 at June 30, 2015. Fair values included in other assets and other liabilities on the consolidated balance sheet applicable to these agreements amounted to $41,155 and $41,320, respectively, at June 30, 2015. At December 31, 2014, the notional amount of these customer derivative agreements and the offsetting derivative counterparty positions each totaled $972,002. At December 31, 2014, fair values included in other assets and other liabilities on the consolidated balance sheet amounted to $43,742 and $43,783, respectively. The interest rate swap agreement with the loan customer and with the counterparty is reported at fair value in other assets and other liabilities on the consolidated balance sheet with any resulting gain or loss recorded in current period earnings as other income or other expense. Credit Risk Contracts. Risk participation agreements sold with notional amounts totaling $74,010 have remaining terms ranging from two to nine years. Under these agreements, the Corporation’s maximum exposure assuming a customer defaults on its obligation to perform under certain derivative swap contracts with third parties would be $114 at June 30, 2015 and $25 at December 31, 2014. The fair values of risk participation agreements purchased and sold were not material at June 30, 2015 and December 31, 2014. Counterparty Credit Risk The Corporation is party to master netting arrangements with most of its swap derivative counterparties. Collateral, usually marketable securities and/or cash, is exchanged between the Corporation and its counterparties, and is generally subject to thresholds and transfer minimums. For swap transactions that require central clearing, the Corporation posts cash to its clearing agency. Collateral positions are valued daily, and adjustments to amounts received and pledged by the Corporation are made as appropriate to maintain proper collateralization for these transactions. Certain master netting agreements contain provisions that, if violated, could cause the counterparties to request immediate settlement or demand full collateralization under the derivative instrument. If the Corporation had breached its agreements with its derivative counterparties it would be required to settle its obligations under the agreements at the termination value and would be required to pay an additional $1,974 and $1,862 as of June 30, 2015 and December 31, 2014, respectively, in excess of amounts previously posted as collateral with the respective counterparty. The following table presents information about derivative assets and derivative liabilities that are subject to enforceable master netting arrangements as well as those not subject to enforceable master netting arrangements: Gross Gross Net Amount the Balance June 30, 2015 Derivative Assets Subject to master netting arrangements: Interest rate contracts Designated $ 1,867 — $ 1,867 Not designated 491 — 491 Equity contracts – not designated 17 — 17 Not subject to master netting arrangements: Interest rate contracts – not designated 40,664 — 40,664 Credit contracts – not designated 10 — 10 $ 43,049 — $ 43,049 Derivative Liabilities Subject to master netting arrangements: Interest rate contracts Designated $ 1,869 — $ 1,869 Not designated 40,943 — 40,943 Not subject to master netting arrangements: Interest rate contracts – not designated 377 — 377 Credit contracts – not designated 114 — 114 Equity contracts – not designated 16 — 16 $ 43,319 — $ 43,319 December 31, 2014 Derivative Assets Subject to master netting arrangements: Interest rate contracts Designated $ 2,109 — $ 2,109 Not designated 140 — 140 Equity contracts – not designated 47 — 47 Not subject to master netting arrangements: Interest rate contracts – not designated 43,602 — 43,602 $ 45,898 — $ 45,898 Derivative Liabilities Subject to master netting arrangements: Interest rate contracts Designated $ 2,330 — $ 2,330 Not designated 43,655 — 43,655 Not subject to master netting arrangements: Interest rate contracts – not designated 128 — 128 Equity contracts – not designated 47 — 47 $ 46,160 — $ 46,160 The following table presents a reconciliation of the net amounts of derivative assets and derivative liabilities presented in the balance sheet to the net amounts that would result in the event of offset: Amount Not Offset in the Balance Sheet Net Amount the Balance Sheet Financial Cash Net Amount June 30, 2015 Derivative Assets Interest rate contracts: Designated $ 1,867 $ 519 $ 1,348 — Not designated 491 105 386 — Equity contracts – not designated 17 17 — — $ 2,375 $ 641 $ 1,734 — Derivative Liabilities Interest rate contracts: Designated $ 1,869 $ 1,869 $ — $ — Not designated 40,943 24,793 14,388 1,762 $ 42,812 $ 26,662 $ 14,388 $ 1,762 December 31, 2014 Derivative Assets Interest rate contracts: Designated $ 2,109 $ 810 $ 1,299 — Not designated 140 138 2 — Equity contracts – not designated 47 47 — — $ 2,296 $ 995 $ 1,301 — Derivative Liabilities Interest rate contracts: Designated $ 2,330 $ 2,330 $ — $ — Not designated 43,655 28,646 13,243 1,766 $ 45,985 $ 30,976 $ 13,243 $ 1,766 The following table presents the effect of certain of the Corporation’s derivative financial instruments on the income statement: Income Six Months Ended Statement June 30, Location 2015 2014 Interest Rate Swaps Other income $ (123 ) $ 1 Credit Risk Contracts Other income (105 ) — Other The Corporation has entered into interest rate lock commitments to originate residential mortgage loans held for sale and forward commitments to sell residential mortgage loans to secondary market investors. These arrangements are considered derivative instruments. The fair values of the Corporation’s rate lock commitments to customers and commitments with investors at June 30, 2015 and December 31, 2014 are not material. |
Commitments, Credit Risk and Co
Commitments, Credit Risk and Contingencies | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Credit Risk and Contingencies | COMMITMENTS, CREDIT RISK AND CONTINGENCIES The Corporation has commitments to extend credit and standby letters of credit that involve certain elements of credit risk in excess of the amount stated in the consolidated balance sheet. The Corporation’s exposure to credit loss in the event of non-performance by the customer is represented by the contractual amount of those instruments. The credit risk associated with loan commitments and standby letters of credit is essentially the same as that involved in extending loans and leases to customers and is subject to normal credit policies. Since many of these commitments expire without being drawn upon, the total commitment amounts do not necessarily represent future cash flow requirements. Following is a summary of off-balance sheet credit risk information: June 30, 2015 December 31, 2014 Commitments to extend credit $ 3,921,382 $ 3,665,481 Standby letters of credit 108,436 121,186 At June 30, 2015, funding of 69.1% of the commitments to extend credit was dependent on the financial condition of the customer. The Corporation has the ability to withdraw such commitments at its discretion. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Based on management’s credit evaluation of the customer, collateral may be deemed necessary. Collateral requirements vary and may include accounts receivable, inventory, property, plant and equipment and income-producing commercial properties. Standby letters of credit are conditional commitments issued by the Corporation that may require payment at a future date. The credit risk involved in issuing letters of credit is quantified on a quarterly basis, through the review of historical performance of the Corporation’s portfolios and allocated as a liability on the Corporation’s balance sheet. Other Legal Proceedings The Corporation and its subsidiaries are involved in various pending legal proceedings in which claims for monetary damages and other relief are asserted. These actions include claims brought against the Corporation and its subsidiaries where the Corporation or a subsidiary acted as one or more of the following: a depository bank, lender, underwriter, fiduciary, financial advisor, broker, agent, acquiror or was engaged in other business activities. Although the ultimate outcome for any asserted claim cannot be predicted with certainty, the Corporation believes that it and its subsidiaries have valid defenses for all asserted claims. Reserves are established for legal claims when losses associated with the claims are judged to be probable and the amount of the loss can be reasonably estimated. Based on information currently available, advice of counsel, available insurance coverage and established reserves, the Corporation does not anticipate, at the present time, that the aggregate liability, if any, arising out of such legal proceedings will have a material adverse effect on the Corporation’s consolidated financial position. However, the Corporation cannot determine whether or not any claims asserted against it will have a material adverse effect on its consolidated results of operations in any future reporting period. |
Stock Incentive Plans
Stock Incentive Plans | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Incentive Plans | STOCK INCENTIVE PLANS Restricted Stock The Corporation issues restricted stock awards, consisting of both restricted stock and restricted stock units, to key employees under its Incentive Compensation Plans (Plans). The Corporation issues time-based awards and performance-based awards under these Plans, both of which are based on a three-year vesting period. The grant date fair value of the time-based awards is equal to the price of the Corporation’s common stock on the grant date. The fair value of the performance-based awards is based on a Monte-Carlo Simulation valuation of the Corporation’s common stock as of the grant date. For the six months ended June 30, 2015 and 2014, the Corporation issued 401,510 and 357,341 restricted stock awards, respectively, with aggregated grant date fair values of $5,284 and $4,871 under these plans. For performance-based restricted stock awards granted, the amount of shares recipients will earn is variable based on the Corporation’s total stockholder return relative to a specified peer group of financial institutions over the three-year period. These market-based restricted stock units are included in the table below as if the recipients earned shares equal to 100% of the units issued. As of June 30, 2015, the Corporation had available up to 2,077,572 shares of common stock to issue under the Plans. The unvested restricted stock awards are eligible to receive cash dividends or dividend equivalents which are ultimately used to purchase additional shares of stock and are subject to forfeiture if the requisite service period is not completed or the specified performance criteria are not met. These awards are subject to certain accelerated vesting provisions upon retirement, death, disability or in the event of a change of control as defined in the award agreements. Share-based compensation expense related to restricted stock awards was $1,564 and $1,385 for the six months ended June 30, 2015 and 2014, the tax benefit of which was $548 and $485, respectively. The following table summarizes certain information concerning restricted stock awards: Six Months Ended June 30, 2015 2014 Awards Weighted Average Grant Awards Weighted Average Grant Unvested awards outstanding at beginning of period 1,354,093 $ 11.86 1,729,033 $ 10.23 Granted 401,510 13.16 357,341 13.63 Net adjustment due to performance (46,956 ) 10.25 (87,512 ) 11.41 Vested (460,606 ) 10.61 (698,121 ) 8.77 Forfeited (2,774 ) 17.24 (32,909 ) 10.99 Dividend reinvestment 18,359 14.13 22,501 12.74 Unvested awards outstanding at end of period 1,263,626 12.82 1,290,333 11.90 The total fair value of awards vested was $5,770 and $8,641 for the six months ended June 30, 2015 and 2014, respectively. As of June 30, 2015, there was $8,141 of unrecognized compensation cost related to unvested restricted stock awards, including $65 that is subject to accelerated vesting under the Plan’s immediate vesting upon retirement provision for awards granted prior to the adoption of ASC 718, Compensation – Stock Compensation Service- Awards Performance- Based Awards Total Unvested awards 663,106 600,520 1,263,626 Unrecognized compensation expense $ 5,165 $ 2,976 $ 8,141 Intrinsic value $ 9,496 $ 8,599 $ 18,095 Weighted average remaining life (in years) 2.31 2.20 2.26 Stock Options All outstanding stock options were assumed from acquisitions and are fully vested. Upon consummation of the Corporation’s acquisitions, all outstanding stock options issued by the acquired companies were converted into equivalent Corporation stock options. The Corporation issues shares of treasury stock or authorized but unissued shares to satisfy stock options exercised. Shares issued upon the exercise of stock options were 82,810 and 93,154 for the six months ended June 30, 2015 and 2014, respectively. The following table summarizes certain information concerning stock option awards: Six Months Ended June 30, 2015 2014 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options outstanding at beginning of period 568,834 $ 8.86 533,524 $ 11.50 Assumed from acquisitions — — 304,785 5.77 Exercised (82,810 ) 5.57 (134,687 ) 6.24 Forfeited (2,182 ) 4.34 (52,262 ) 25.03 Options outstanding and exercisable at end of period 483,842 9.44 651,360 8.82 The intrinsic value of outstanding and exercisable stock options at June 30, 2015 was $2,255. Warrants In conjunction with its participation in the U.S. Department of the Treasury’s (UST) Capital Purchase Program (CPP), the Corporation issued to the UST a warrant to purchase up to 1,302,083 shares of the Corporation’s common stock. Pursuant to Section 13(H) of the Warrant to Purchase Common Stock, the number of shares of common stock issuable upon exercise of the warrant was reduced in half to 651,042 shares on June 16, 2009, the date the Corporation completed a public offering. The warrant, which expires in 2019, has an exercise price of $11.52 per share. In conjunction with the Parkvale Financial Corporation (Parkvale) acquisition on January 1, 2012, the warrant issued by Parkvale to the UST under the CPP has been converted into a warrant to purchase up to 819,640 shares of the Corporation’s common stock. This warrant, which was recorded at its fair value on January 1, 2012, was sold at auction by the UST and was exercised at $5.81 per share during the second quarter of 2015. In conjunction with the Annapolis Bancorp, Inc. (ANNB) acquisition on April 6, 2013, the warrant issued by ANNB to the UST under the CPP has been converted into a warrant to purchase up to 342,564 shares of the Corporation’s common stock at an exercise price of $3.57 per share. Subsequent adjustments related to actual dividends paid by the Corporation have increased the share amount of these warrants to 370,929, with a resulting lower exercise price of $3.30 per share as of June 30, 2015. The warrant, which was recorded at its fair value on April 6, 2013, expires in 2019. |
Retirement Plans
Retirement Plans | 6 Months Ended |
Jun. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Retirement Plans | RETIREMENT PLANS The Corporation sponsors the Retirement Income Plan (RIP), a qualified noncontributory defined benefit pension plan that covered substantially all salaried employees hired prior to January 1, 2008. The RIP covers employees who satisfied minimum age and length of service requirements. The Corporation’s funding guideline has been to make annual contributions to the RIP each year, if necessary, such that minimum funding requirements have been met. The RIP was frozen as of December 31, 2010. The Corporation also sponsors two supplemental non-qualified retirement plans. The ERISA Excess Retirement Plan provides retirement benefits equal to the difference, if any, between the maximum benefit allowable under the Internal Revenue Code and the amount that would be provided under the RIP, if no limits were applied. The Basic Retirement Plan (BRP) is applicable to certain officers whom the Board of Directors designates. Officers participating in the BRP receive a benefit based on a target benefit percentage based on years of service at retirement and a designated tier as determined by the Board of Directors. When a participant retires, the basic benefit under the BRP is a monthly benefit equal to the target benefit percentage times the participant’s highest average monthly cash compensation during five consecutive calendar years within the last ten calendar years of employment. This monthly benefit is reduced by the monthly benefit the participant receives from Social Security, the RIP, the ERISA Excess Retirement Plan and the annuity equivalent of the three percent automatic contributions to the qualified 401(k) defined contribution plan and the ERISA Excess Lost Match Plan. The BRP was frozen as of December 31, 2008. The ERISA Excess Retirement Plan was frozen as of December 31, 2010. The net periodic benefit credit for the defined benefit plans includes the following components: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Service cost $ 17 $ 16 $ 34 $ 32 Interest cost 1,477 1,596 2,954 3,192 Expected return on plan assets (2,491 ) (2,487 ) (4,982 ) (4,974 ) Amortization: Unrecognized net transition asset — (5 ) — (10 ) Unrecognized prior service cost 2 2 4 4 Unrecognized loss 536 337 1,072 674 Net periodic pension credit $ (459 ) $ (541 ) $ (918 ) $ (1,082 ) The Corporation’s subsidiaries participate in a qualified 401(k) defined contribution plan under which employees may contribute a percentage of their salary. Employees are eligible to participate upon their first day of employment. Under this plan, the Corporation matches 100% of the first six percent that the employee defers. Additionally, the Corporation may provide a performance-based company contribution of up to three percent if the Corporation exceeds annual financial goals. Prior to January 1, 2015, the Corporation matched 100% of the first four percent that the employee deferred, provided an automatic contribution of three percent of compensation at the end of the year and could make an additional performance-based company contribution of up to two percent if the Corporation achieved its performance goals for the plan year. The Corporation’s contribution expense was $3,961 and $4,962 for the six months ended June 30, 2015 and 2014, respectively. The Corporation also sponsors an ERISA Excess Lost Match Plan for certain officers. This plan provides retirement benefits equal to the difference, if any, between the maximum benefit allowable under the Internal Revenue Code and the amount that would have been provided under the qualified 401(k) defined contribution plan, if no limits were applied. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES The Corporation bases its provision for income taxes upon income before income taxes, adjusted for the effect of certain tax-exempt income and non-deductible expenses. In addition, the Corporation reports certain items of income and expense in different periods for financial reporting and tax return purposes. The Corporation recognizes the tax effects of these temporary differences currently in the deferred income tax provision or benefit. The Corporation computes deferred tax assets or liabilities based upon the differences between the financial statement and income tax bases of assets and liabilities using the applicable marginal tax rate. The Corporation evaluates the probability that it will ultimately realize the full value of its deferred tax assets. Realization of the Corporation’s deferred tax assets is dependent upon a number of factors including the existence of any cumulative losses in prior periods, the amount of taxes paid in available carry-back periods, expectations for future earnings, applicable tax planning strategies and assessment of current and future economic and business conditions. The Corporation establishes a valuation allowance when it is “more likely than not” that the Corporation will not be able to realize a benefit from its deferred tax assets, or when future deductibility is uncertain. At June 30, 2015, the Corporation anticipates that it will not utilize some of its state net operating loss carryforwards and other net deferred tax assets at certain of its subsidiaries and has recorded a valuation allowance against these deferred tax assets. The Corporation believes that, except for the portion which is covered by a valuation allowance, it is more likely than not the Corporation will realize the benefits of its deferred tax assets, net of the valuation allowance, at June 30, 2015, based on the levels of projected taxable income of some of its entities. |
Comprehensive Income
Comprehensive Income | 6 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Comprehensive Income | COMPREHENSIVE INCOME The components of comprehensive income, net of related tax, are as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Net income $ 40,131 $ 34,831 $ 80,474 $ 69,355 Other comprehensive (loss) income: Securities available for sale: Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(3,870), $2,935, $652 and $11,950 (7,188 ) 5,451 1,212 22,193 Reclassification adjustment for gains included in net income, net of tax expense of $5, $272, $2 and $3,583 (9 ) (504 ) (3 ) (6,654 ) Derivative instruments: Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(860), $1,537, $645 and $2,939 (1,597 ) 2,855 1,196 5,458 Reclassification adjustment for gains included in net income, net of tax expense of $285, $290, $568 and $575 (529 ) (538 ) (1,055 ) (1,067 ) Pension and postretirement benefit obligations: Unrealized gains arising during the period, net of tax expense of $189, $117, $377 and $234 350 218 700 435 Other comprehensive (loss) income (8,973 ) 7,482 2,050 20,365 Comprehensive income $ 31,158 $ 42,313 $ 82,524 $ 89,720 The amounts reclassified from AOCI related to securities available for sale are included in net securities gains on the Consolidated Statements of Comprehensive Income, while the amounts reclassified from AOCI related to derivative instruments are included in interest income on loans and leases on the Consolidated Statements of Comprehensive Income. The tax (benefit) expense amounts reclassified from AOCI in connection with the securities available for sale and derivative instruments reclassifications are included in income taxes on the Consolidated Statements of Comprehensive Income. The following table presents changes in AOCI, net of tax, by component: Unrealized Net Gains (Losses) on Securities Available for Sale Unrealized Net Gains Derivative Instruments Unrecognized Postretirement Obligations Total Six Months Ended June 30, 2015 Balance at beginning of period $ (440 ) $ (143 ) $ (45,420 ) $ (46,003 ) Other comprehensive income before reclassifications 1,212 1,196 700 3,108 Amounts reclassified from AOCI (3 ) (1,055 ) — (1,058 ) Net current period other comprehensive income 1,209 141 700 2,050 Balance at end of period $ 769 $ (2 ) $ (44,720 ) $ (43,953 ) |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | EARNINGS PER COMMON SHARE Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding net of unvested shares of restricted stock. Diluted earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding, adjusted for the dilutive effect of potential common shares issuable for stock options, warrants and restricted shares, as calculated using the treasury stock method. Adjustments to the weighted average number of shares of common stock outstanding are made only when such adjustments dilute earnings per common share. The following table sets forth the computation of basic and diluted earnings per common share: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Net income $ 40,131 $ 34,831 $ 80,474 $ 69,355 Less: Preferred stock dividends 2,010 2,010 4,020 4,332 Net income available to common stockholders $ 38,121 $ 32,821 $ 76,454 $ 65,023 Basic weighted average common shares outstanding 174,940,911 166,185,080 174,548,775 164,196,783 Net effect of dilutive stock options, warrants, restricted stock and convertible debt 1,420,929 1,682,528 1,547,420 1,731,577 Diluted weighted average common shares outstanding 176,361,840 167,867,608 176,096,195 165,928,360 Earnings per common share: Basic $ 0.22 $ 0.20 $ 0.44 $ 0.40 Diluted $ 0.22 $ 0.20 $ 0.43 $ 0.39 For the three months ended June 30, 2015 and 2014, 17,918 and 30,649 shares of common stock, respectively, related to stock options and warrants were excluded from the computation of diluted earnings per common share because the exercise price of the shares was greater than the average market price of the common shares and, therefore, the effect would be anti-dilutive. For the six months ended June 30, 2015 and 2014, 20,984 and 41,023 shares of common stock, respectively, related to stock options and warrants were excluded from the computation of diluted earnings per common share because the exercise price of the shares was greater than the average market price of the common shares and, therefore, the effect would be anti-dilutive. |
Cash Flow Information
Cash Flow Information | 6 Months Ended |
Jun. 30, 2015 | |
Supplemental Cash Flow Elements [Abstract] | |
Cash Flow Information | CASH FLOW INFORMATION Following is a summary of supplemental cash flow information: 2015 2014 Six Months Ended June 30 Interest paid on deposits and other borrowings $ 23,621 $ 21,366 Income taxes paid 21,000 1,000 Transfers of loans to other real estate owned 4,744 6,660 Financing of other real estate owned sold 222 259 |
Business Segments
Business Segments | 6 Months Ended |
Jun. 30, 2015 | |
Segment Reporting [Abstract] | |
Business Segments | BUSINESS SEGMENTS The Corporation operates in four reportable segments: Community Banking, Wealth Management, Insurance and Consumer Finance. • The Community Banking segment provides commercial and consumer banking services. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, international banking, business credit, capital markets and lease financing. Consumer banking products and services include deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. • The Wealth Management segment provides a broad range of personal and corporate fiduciary services including the administration of decedent and trust estates. In addition, it offers various alternative products, including securities brokerage and investment advisory services, mutual funds and annuities. • The Insurance segment includes a full-service insurance agency offering all lines of commercial and personal insurance through major carriers. The Insurance segment also includes a reinsurer. • The Consumer Finance segment primarily makes installment loans to individuals and purchases installment sales finance contracts from retail merchants. The Consumer Finance segment activity is funded through the sale of the Corporation’s subordinated notes at the finance company’s branch offices. The following tables provide financial information for these segments of the Corporation. The information provided under the caption “Parent and Other” represents operations not considered to be reportable segments and/or general operating expenses of the Corporation, and includes the parent company, other non-bank subsidiaries and eliminations and adjustments which are necessary for purposes of reconciliation to the consolidated amounts. Community Wealth Management Insurance Consumer Parent and Consolidated At or for the Three Months Ended June 30, 2015 Interest income $ 123,967 $ — $ 22 $ 9,778 $ 1,681 $ 135,448 Interest expense 10,166 — — 855 660 11,681 Net interest income 113,801 — 22 8,923 1,021 123,767 Provision for credit losses 6,945 — — 1,964 (45 ) 8,864 Non-interest income 28,313 9,199 2,753 732 (1,245 ) 39,752 Non-interest expense 78,339 6,931 3,581 4,994 655 94,500 Intangible amortization 1,830 68 101 — — 1,999 Income tax expense (benefit) 17,009 789 (312 ) 1,038 (499 ) 18,025 Net income (loss) 37,991 1,411 (595 ) 1,659 (335 ) 40,131 Total assets 16,412,240 21,255 22,523 186,134 (43,551 ) 16,598,601 Total intangibles 851,250 10,584 12,747 1,809 — 876,390 At or for the Three Months Ended June 30, 2014 Interest income $ 113,161 $ — $ 25 $ 9,578 $ 1,676 $ 124,440 Interest expense 8,730 — — 809 709 10,248 Net interest income 104,431 — 25 8,769 967 114,192 Provision for credit losses 8,425 — — 1,778 202 10,405 Non-interest income 27,420 8,033 2,999 741 (3 ) 39,190 Non-interest expense 75,281 6,452 2,911 4,880 599 90,123 Intangible amortization 2,288 72 101 — — 2,461 Income tax expense (benefit) 14,048 548 8 1,097 (139 ) 15,562 Net income (loss) 31,809 961 4 1,755 302 34,831 Total assets 14,842,988 21,828 20,785 182,401 (48,755 ) 15,019,247 Total intangibles 830,809 10,864 10,324 1,809 — 853,806 Community Wealth Management Insurance Consumer Parent and Consolidated At or for the Six Months Ended June 30, 2015 Interest income $ 246,085 $ — $ 45 $ 19,371 $ 3,316 $ 268,817 Interest expense 20,107 — — 1,715 1,307 23,129 Net interest income 225,978 — 45 17,656 2,009 245,688 Provision for credit losses 13,272 — — 3,538 190 17,000 Non-interest income 55,614 17,586 6,346 1,408 (3,020 ) 77,934 Non-interest expense 155,418 13,424 7,751 9,802 645 187,040 Intangible amortization 3,777 136 201 — — 4,114 Income tax expense (benefit) 32,940 1,447 (538 ) 2,187 (1,042 ) 34,994 Net income (loss) 76,185 2,579 (1,023 ) 3,537 (804 ) 80,474 Total assets 16,412,240 21,255 22,523 186,134 (43,551 ) 16,598,601 Total intangibles 851,250 10,584 12,747 1,809 — 876,390 At or for the Six Months Ended June 30, 2014 Interest income $ 219,852 $ — $ 50 $ 18,943 $ 3,475 $ 242,320 Interest expense 16,978 — — 1,655 1,670 20,303 Net interest income 202,874 — 50 17,288 1,805 222,017 Provision for credit losses 13,721 — — 3,235 455 17,411 Non-interest income 59,333 15,356 7,209 1,401 (2,039 ) 81,260 Non-interest expense 152,147 12,744 5,957 9,817 1,341 182,006 Intangible amortization 4,398 144 202 — — 4,744 Income tax expense (benefit) 27,391 899 393 2,170 (1,092 ) 29,761 Net income (loss) 64,550 1,569 707 3,467 (938 ) 69,355 Total assets 14,842,988 21,828 20,785 182,401 (48,755 ) 15,019,247 Total intangibles 830,809 10,864 10,324 1,809 — 853,806 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS The Corporation uses fair value measurements to record fair value adjustments to certain financial assets and liabilities and to determine fair value disclosures. Securities available for sale and derivatives are recorded at fair value on a recurring basis. Additionally, from time to time, the Corporation may be required to record at fair value other assets on a non-recurring basis, such as mortgage loans held for sale, certain impaired loans, OREO and certain other assets. Fair value is defined as an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are not adjusted for transaction costs. Fair value is a market-based measure considered from the perspective of a market participant who holds the asset or owes the liability rather than an entity-specific measure. In determining fair value, the Corporation uses various valuation approaches, including market, income and cost approaches. ASC 820, Fair Value Measurements and Disclosures The fair value hierarchy gives the highest priority to unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The fair value hierarchy is broken down into three levels based on the reliability of inputs as follows: Measurement Category Definition Level 1 valuation is based upon unadjusted quoted market prices for identical instruments traded in active markets. Level 2 valuation is based upon quoted market prices for similar instruments traded in active markets, quoted market prices for identical or similar instruments traded in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by market data. Level 3 valuation is derived from other valuation methodologies including discounted cash flow models and similar techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in determining fair value. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Following is a description of the valuation methodologies the Corporation uses for financial instruments recorded at fair value on either a recurring or non-recurring basis: Securities Available For Sale Securities available for sale consists of both debt and equity securities. These securities are recorded at fair value on a recurring basis. At June 30, 2015, 99.9% of these securities used valuation methodologies involving market-based or market-derived information, collectively Level 1 and Level 2 measurements, to measure fair value. The remaining 0.1% of these securities was measured using model-based techniques, with primarily unobservable (Level 3) inputs. The Corporation closely monitors market conditions involving assets that have become less actively traded. If the fair value measurement is based upon recent observable market activity of such assets or comparable assets (other than forced or distressed transactions) that occur in sufficient volume, and do not require significant adjustment using unobservable inputs, those assets are classified as Level 1 or Level 2; if not, they are classified as Level 3. Making this assessment requires significant judgment. The Corporation uses prices from independent pricing services and, to a lesser extent, indicative (non-binding) quotes from independent brokers, to measure the fair value of investment securities. The Corporation validates prices received from pricing services or brokers using a variety of methods, including, but not limited to, comparison to secondary pricing services, corroboration of pricing by reference to other independent market data such as secondary broker quotes and relevant benchmark indices, and review of pricing information by Corporate personnel familiar with market liquidity and other market-related conditions. Derivative Financial Instruments The Corporation determines its fair value for derivatives using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects contractual terms of the derivative, including the period to maturity and uses observable market based inputs, including interest rate curves and implied volatilities. The Corporation incorporates credit valuation adjustments to appropriately reflect both its own non-performance risk and the respective counterparty’s non-performance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of non-performance risk, the Corporation considers the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. Although the Corporation has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of June 30, 2015, the Corporation has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Corporation has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. Residential Mortgage Loans Held For Sale These loans are carried at the lower of cost or fair value. Under lower of cost or fair value accounting, periodically, it may be necessary to record non-recurring fair value adjustments. Fair value, when recorded, is based on independent quoted market prices and is classified as Level 2. Impaired Loans The Corporation reserves for commercial loan relationships greater than or equal to $500 that the Corporation considers impaired as defined in ASC 310 at the time the Corporation identifies the loan as impaired based upon the present value of expected future cash flows available to pay the loan, or based upon the fair value of the collateral less estimated selling costs where a loan is collateral dependent. Collateral may be real estate and/or business assets including equipment, inventory and accounts receivable. The Corporation determines the fair value of real estate based on appraisals by licensed or certified appraisers. The value of business assets is generally based on amounts reported on the business’ financial statements. Management must rely on the financial statements prepared and certified by the borrower or its accountants in determining the value of these business assets on an ongoing basis, which may be subject to significant change over time. Based on the quality of information or statements provided, management may require the use of business asset appraisals and site-inspections to better value these assets. The Corporation may discount appraised and reported values based on management’s historical knowledge, changes in market conditions from the time of valuation or management’s knowledge of the borrower and the borrower’s business. Since not all valuation inputs are observable, the Corporation classifies these non-recurring fair value determinations as Level 2 or Level 3 based on the lowest level of input that is significant to the fair value measurement. The Corporation reviews and evaluates impaired loans no less frequently than quarterly for additional impairment based on the same factors identified above. Other Real Estate Owned OREO is comprised of commercial and residential real estate properties obtained in partial or total satisfaction of loan obligations plus some bank owned real estate. OREO acquired in settlement of indebtedness is recorded at the lower of carrying amount of the loan or fair value less costs to sell. Subsequently, these assets are carried at the lower of carrying value or fair value less costs to sell. Accordingly, it may be necessary to record non-recurring fair value adjustments. Fair value is generally based upon appraisals by licensed or certified appraisers and other market information and is classified as Level 2 or Level 3. The following table presents the balances of assets and liabilities measured at fair value on a recurring basis: Level 1 Level 2 Level 3 Total June 30, 2015 Assets Measured at Fair Value Available for sale debt securities: U.S. Treasury $ — $ 29,928 $ — $ 29,928 U.S. government-sponsored entities — 404,076 — 404,076 Residential mortgage-backed securities: Agency mortgage-backed securities — 593,756 — 593,756 Agency collateralized mortgage obligations — 555,597 — 555,597 Non-agency collateralized mortgage obligations — 9 1,270 1,279 Commercial mortgage-backed securities — 5,006 — 5,006 States of the U.S. and political subdivisions — 11,457 — 11,457 Other debt securities — 16,241 — 16,241 — 1,616,070 1,270 1,617,340 Available for sale equity securities: Financial services industry 94 677 387 1,158 Insurance services industry 122 — — 122 216 677 387 1,280 216 1,616,747 1,657 1,618,620 Derivative financial instruments: Trading — 41,172 — 41,172 Not for trading — 1,877 — 1,877 — 43,049 — 43,049 $ 216 $ 1,659,796 $ 1,657 $ 1,661,669 Liabilities Measured at Fair Value Derivative financial instruments: Trading — $ 41,336 — $ 41,336 Not for trading — 1,983 — 1,983 — $ 43,319 — $ 43,319 Level 1 Level 2 Level 3 Total December 31, 2014 Assets Measured at Fair Value Available for sale debt securities: U.S. Treasury $ — $ 29,682 $ — $ 29,682 U.S. government-sponsored entities — 337,133 — 337,133 Residential mortgage-backed securities: Agency mortgage-backed securities — 554,085 — 554,085 Agency collateralized mortgage obligations — 573,171 — 573,171 Non-agency collateralized mortgage obligations — 11 1,420 1,431 Commercial mortgage-backed securities — 7,880 — 7,880 States of the U.S. and political subdivisions — 13,158 — 13,158 Other debt securities — 16,178 — 16,178 — 1,531,298 1,420 1,532,718 Available for sale equity securities: Financial services industry 99 654 475 1,228 Insurance services industry 119 — — 119 218 654 475 1,347 218 1,531,952 1,895 1,534,065 Derivative financial instruments: Trading — 43,789 — 43,789 Not for trading — 2,109 — 2,109 — 45,898 — 45,898 $ 218 $ 1,577,850 $ 1,895 $ 1,579,963 Liabilities Measured at Fair Value Derivative financial instruments: Trading — $ 43,830 — $ 43,830 Not for trading — 2,330 — 2,330 — $ 46,160 — $ 46,160 There were no transfers of assets or liabilities between the hierarchy levels for 2015 or 2014. The following table presents additional information about assets measured at fair value on a recurring basis and for which the Corporation has utilized Level 3 inputs to determine fair value: Pooled Trust Debt Obligations Equity Residential Non-Agency Collateralized Mortgage Obligations Total Six Months Ended June 30, 2015 Balance at beginning of period — $ 475 $ 1,420 $ 1,895 Total gains (losses) – realized/unrealized: Included in earnings — — — — Included in other comprehensive income — (32 ) (8 ) (40 ) Accretion included in earnings — — 2 2 Purchases, issuances, sales and settlements: Purchases — — — — Issuances — — — — Sales/redemptions — — — — Settlements — — (144 ) (144 ) Transfers from Level 3 — (56 ) — (56 ) Transfers into Level 3 — — — — Balance at end of period — $ 387 $ 1,270 $ 1,657 Year Ended December 31, 2014 Balance at beginning of period $ 31,595 $ 410 $ 1,744 $ 33,749 Total gains (losses) – realized/unrealized: Included in earnings 13,766 — — 13,766 Included in other comprehensive income 5,608 65 3 5,676 Accretion included in earnings 657 — 5 662 Purchases, issuances, sales and settlements: Purchases — — — — Issuances — — — — Sales/redemptions (51,527 ) — — (51,527 ) Settlements (99 ) — (332 ) (431 ) Transfers from Level 3 — — — — Transfers into Level 3 — — — — Balance at end of period $ — $ 475 $ 1,420 $ 1,895 The Corporation reviews fair value hierarchy classifications on a quarterly basis. Changes in the observability of the valuation attributes may result in reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in/out of Level 3 at fair value at the beginning of the period in which the changes occur. See the Securities footnote in the Notes to Consolidated Financial Statements section of this Report for information relating to significant unobservable inputs used in determining Level 3 fair values. During the second quarter of 2015, the Corporation transferred an equity security totaling $56 to non-marketable equity securities, reflected in other assets on the Consolidated Balance Sheet. For the six months ended June 30, 2015 and 2014, there were no gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held as of those dates. The total (losses) gains included in earnings are in the net securities (losses) gains line item in the Consolidated Statements of Comprehensive Income. In accordance with GAAP, from time to time, the Corporation measures certain assets at fair value on a non-recurring basis. These adjustments to fair value usually result from the application of the lower of cost or fair value accounting or write-downs of individual assets. Valuation methodologies used to measure these fair value adjustments were previously described. For assets measured at fair value on a non-recurring basis still held at the balance sheet date, the following table provides the hierarchy level and the fair value of the related assets or portfolios: Level 1 Level 2 Level 3 Total June 30, 2015 Impaired loans — $ 113 $ 609 $ 722 Other real estate owned — 4,170 2,166 6,336 December 31, 2014 Impaired loans — 177 1,528 1,705 Other real estate owned — 5,695 2,365 8,060 Substantially all of the fair value amounts in the table above were estimated at a date during the six months or twelve months ended June 30, 2015 and December 31, 2014, respectively. Consequently, the fair value information presented is not as of the period’s end. Impaired loans measured or re-measured at fair value on a non-recurring basis during the six months ended June 30, 2015 had a carrying amount of $2,857 and an allocated allowance for credit losses of $2,226. The allocated allowance is based on fair value of $722 less estimated costs to sell of $91. The allowance for credit losses includes a provision applicable to the current period fair value measurements of $1,046, which was included in the provision for credit losses for the six months ended June 30, 2015. OREO with a carrying amount of $8,263 was written down to $5,625 (fair value of $6,336 less estimated costs to sell of $711), resulting in a loss of $2,638, which was included in earnings for the six months ended June 30, 2015. Fair Value of Financial Instruments The following methods and assumptions were used to estimate the fair value of each financial instrument: Cash and Cash Equivalents, Accrued Interest Receivable and Accrued Interest Payable. Securities. Loans and Leases. Derivative Assets and Liabilities. The Corporation incorporates credit valuation adjustments to appropriately reflect both its own non-performance risk and the respective counterparty’s non-performance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of non-performance risk, the Corporation considers the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. Although the Corporation has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of June 30, 2015, the Corporation has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Corporation has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. Deposits. Short-Term Borrowings. Long-Term Borrowings. Loan Commitments and Standby Letters of Credit. Nature of Estimates The fair values of the Corporation’s financial instruments are as follows: Fair Value Measurements Carrying Fair Value Level 1 Level 2 Level 3 June 30, 2015 Financial Assets Cash and cash equivalents $ 237,479 $ 237,479 $ 237,479 $ — $ — Securities available for sale 1,618,620 1,618,620 216 1,616,747 1,657 Securities held to maturity 1,518,060 1,526,040 — 1,522,654 3,386 Net loans and leases, including loans held for sale 11,502,357 11,312,391 — — 11,312,391 Derivative assets 43,049 43,049 — 43,049 — Accrued interest receivable 41,824 41,824 41,824 — — Financial Liabilities Deposits 12,358,127 12,356,232 9,770,550 2,585,682 — Short-term borrowings 1,507,582 1,507,582 1,507,582 — — Long-term borrowings 542,578 541,578 — — 541,578 Derivative liabilities 43,319 43,319 — 43,319 — Accrued interest payable 6,197 6,197 6,197 — — December 31, 2014 Financial Assets Cash and cash equivalents $ 287,393 $ 287,393 $ 287,393 $ — $ — Securities available for sale 1,534,065 1,534,065 218 1,531,952 1,895 Securities held to maturity 1,453,355 1,468,258 — 1,463,945 4,313 Net loans and leases, including loans held for sale 11,127,292 10,956,544 — — 10,956,544 Derivative assets 45,898 45,898 — 45,898 — Accrued interest receivable 40,231 40,231 40,231 — — Financial Liabilities Deposits 11,382,208 11,382,402 8,771,173 2,611,229 — Short-term borrowings 2,041,658 2,041,672 2,041,672 — — Long-term borrowings 541,443 539,007 — — 539,007 Derivative liabilities 46,160 46,160 — 46,160 — Accrued interest payable 6,689 6,689 6,689 — — |
New Accounting Standards (Polic
New Accounting Standards (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Insurance - Disclosures about Short-Duration Contracts | Insurance – Disclosures about Short-Duration Contracts In May 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-09, Financial Services – Insurance. |
Cloud Computing Arrangements | Cloud Computing Arrangements In April 2015, the FASB issued ASU No. 2015-05, Intangibles-Goodwill and Other-Internal-Use Software |
Consolidation | Consolidation In February 2015, the FASB issued ASU No. 2015-02, Consolidation |
Income Statement | Income Statement In January 2015, the FASB issued ASU No. 2015-01, Income Statement – Extraordinary and Unusual Items |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Amortized Cost and Fair Value of Securities Available for Sale | The amortized cost and fair value of securities are as follows: Amortized Cost Gross Gross Fair Value Securities Available for Sale June 30, 2015 U.S. Treasury $ 29,670 $ 258 $ — $ 29,928 U.S. government-sponsored entities 403,396 1,853 (1,173 ) 404,076 Residential mortgage-backed securities: Agency mortgage-backed securities 588,103 6,454 (801 ) 593,756 Agency collateralized mortgage obligations 561,212 2,324 (7,939 ) 555,597 Non-agency collateralized mortgage obligations 1,270 9 — 1,279 Commercial mortgage-backed securities 5,004 2 — 5,006 States of the U.S. and political subdivisions 11,138 359 (40 ) 11,457 Other debt securities 16,671 312 (742 ) 16,241 Total debt securities 1,616,464 11,571 (10,695 ) 1,617,340 Equity securities 975 305 — 1,280 $ 1,617,439 $ 11,876 $ (10,695 ) $ 1,618,620 Amortized Cost Gross Gross Fair Value December 31, 2014 U.S. Treasury $ 29,604 $ 78 $ — $ 29,682 U.S. government-sponsored entities 338,330 742 (1,939 ) 337,133 Residential mortgage-backed securities: Agency mortgage-backed securities 546,572 7,548 (35 ) 554,085 Agency collateralized mortgage obligations 580,601 1,617 (9,047 ) 573,171 Non-agency collateralized mortgage obligations 1,414 17 — 1,431 Commercial mortgage-backed securities 7,891 — (11 ) 7,880 States of the U.S. and political subdivisions 12,713 477 (32 ) 13,158 Other debt securities 16,615 420 (857 ) 16,178 Total debt securities 1,533,740 10,899 (11,921 ) 1,532,718 Equity securities 1,031 316 — 1,347 $ 1,534,771 $ 11,215 $ (11,921 ) $ 1,534,065 |
Schedule of Amortized Cost and Fair Value of Securities Held to Maturity | Amortized Cost Gross Gross Fair Value December 31, 2014 U.S. Treasury $ 29,604 $ 78 $ — $ 29,682 U.S. government-sponsored entities 338,330 742 (1,939 ) 337,133 Residential mortgage-backed securities: Agency mortgage-backed securities 546,572 7,548 (35 ) 554,085 Agency collateralized mortgage obligations 580,601 1,617 (9,047 ) 573,171 Non-agency collateralized mortgage obligations 1,414 17 — 1,431 Commercial mortgage-backed securities 7,891 — (11 ) 7,880 States of the U.S. and political subdivisions 12,713 477 (32 ) 13,158 Other debt securities 16,615 420 (857 ) 16,178 Total debt securities 1,533,740 10,899 (11,921 ) 1,532,718 Equity securities 1,031 316 — 1,347 $ 1,534,771 $ 11,215 $ (11,921 ) $ 1,534,065 Securities Held to Maturity June 30, 2015 U.S. Treasury $ 500 $ 152 $ — $ 652 U.S. government-sponsored entities 146,561 1,054 (379 ) 147,236 Residential mortgage-backed securities: Agency mortgage-backed securities 670,817 12,981 (1,006 ) 682,792 Agency collateralized mortgage obligations 484,832 2,351 (6,793 ) 480,390 Non-agency collateralized mortgage obligations 3,375 14 (3 ) 3,386 Commercial mortgage-backed securities 17,410 231 — 17,641 States of the U.S. and political subdivisions 194,565 1,936 (2,558 ) 193,943 $ 1,518,060 $ 18,719 $ (10,739 ) $ 1,526,040 December 31, 2014 U.S. Treasury $ 502 $ 168 $ — $ 670 U.S. government-sponsored entities 101,602 885 (524 ) 101,963 Residential mortgage-backed securities: Agency mortgage-backed securities 677,169 16,712 (346 ) 693,535 Agency collateralized mortgage obligations 501,965 1,858 (7,329 ) 496,494 Non-agency collateralized mortgage obligations 4,285 28 — 4,313 Commercial mortgage-backed securities 17,560 179 — 17,739 States of the U.S. and political subdivisions 150,272 3,315 (43 ) 153,544 $ 1,453,355 $ 23,145 $ (8,242 ) $ 1,468,258 |
Gross Gains and Gross Losses Realized on Sales of Securities | Gross gains and gross losses were realized on securities as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Gross gains $ 14 $ 739 $ 14 $ 18,748 Gross losses — 37 (9 ) (8,511 ) $ 14 $ 776 $ 5 $ 10,237 |
Amortized Cost and Fair Value of Securities, by Contractual Maturities | As of June 30, 2015, the amortized cost and fair value of securities, by contractual maturities, were as follows: Available for Sale Held to Maturity Amortized Fair Value Amortized Fair Value Due in one year or less $ 4,990 $ 5,040 $ 1,010 $ 1,017 Due from one to five years 438,979 440,208 140,854 141,072 Due from five to ten years 10,014 10,304 72,031 73,550 Due after ten years 6,892 6,150 127,731 126,192 460,875 461,702 341,626 341,831 Residential mortgage-backed securities: Agency mortgage-backed securities 588,103 593,756 670,817 682,792 Agency collateralized mortgage obligations 561,212 555,597 484,832 480,390 Non-agency collateralized mortgage obligations 1,270 1,279 3,375 3,386 Commercial mortgage-backed securities 5,004 5,006 17,410 17,641 Equity securities 975 1,280 — — $ 1,617,439 $ 1,618,620 $ 1,518,060 $ 1,526,040 |
Summaries of Fair Values and Unrealized Losses of Securities, Segregated by Length of Impairment | Following are summaries of the fair values and unrealized losses of securities, segregated by length of impairment: Less than 12 Months 12 Months or More Total # Fair Value Unrealized # Fair Value Unrealized # Fair Value Unrealized Securities Available for Sale June 30, 2015 U.S. government-sponsored entities 5 $ 84,445 $ (571 ) 5 $ 55,389 $ (602 ) 10 $ 139,834 $ (1,173 ) Residential mortgage-backed securities: Agency mortgage-backed securities 11 186,261 (801 ) — — — 11 186,261 (801 ) Agency collateralized mortgage obligations 6 104,538 (563 ) 18 237,775 (7,376 ) 24 342,313 (7,939 ) States of the U.S. and political subdivisions 1 2,079 (3 ) 1 1,153 (37 ) 2 3,232 (40 ) Other debt securities — — — 4 6,150 (742 ) 4 6,150 (742 ) 23 $ 377,323 $ (1,938 ) 28 $ 300,467 $ (8,757 ) 51 $ 677,790 $ (10,695 ) Less than 12 Months 12 Months or More Total # Fair Value Unrealized # Fair Value Unrealized # Fair Value Unrealized December 31, 2014 U.S. government-sponsored entities 7 $ 89,986 $ (275 ) 7 $ 99,326 $ (1,664 ) 14 $ 189,312 $ (1,939 ) Residential mortgage-backed securities: Agency mortgage-backed securities 2 45,145 (35 ) — — — 2 45,145 (35 ) Agency collateralized mortgage obligations 9 166,908 (1,238 ) 16 225,700 (7,809 ) 25 392,608 (9,047 ) Commercial mortgage-backed securities 1 7,880 (11 ) — — — 1 7,880 (11 ) States of the U.S. and political subdivisions — — — 1 1,159 (32 ) 1 1,159 (32 ) Other debt securities — — — 4 6,030 (857 ) 4 6,030 (857 ) 19 $ 309,919 $ (1,559 ) 28 $ 332,215 $ (10,362 ) 47 $ 642,134 $ (11,921 ) Securities Held to Maturity June 30, 2015 U.S. government-sponsored entities 3 $ 44,772 $ (227 ) 1 $ 14,849 $ (152 ) 4 $ 59,621 $ (379 ) Residential mortgage-backed securities: Agency mortgage-backed securities 10 115,966 (974 ) 1 1,127 (32 ) 11 117,093 (1,006 ) Agency collateralized mortgage obligations 7 95,239 (884 ) 14 176,572 (5,909 ) 21 271,811 (6,793 ) Non-agency collateralized mortgage obligations 2 1,731 (3 ) — — — 2 1,731 (3 ) States of the U.S. and political subdivisions 45 83,795 (2,558 ) — — — 45 83,795 (2,558 ) 67 $ 341,503 $ (4,646 ) 16 $ 192,548 $ (6,093 ) 83 $ 534,051 $ (10,739 ) December 31, 2014 U.S. government-sponsored entities 2 $ 24,989 $ (40 ) 2 $ 29,516 $ (484 ) 4 $ 54,505 $ (524 ) Residential mortgage-backed securities: Agency mortgage-backed securities 1 1,099 (1 ) 4 45,042 (345 ) 5 46,141 (346 ) Agency collateralized mortgage obligations 8 104,071 (630 ) 14 189,642 (6,699 ) 22 293,713 (7,329 ) States of the U.S. and political subdivisions 1 1,427 (4 ) 4 5,453 (39 ) 5 6,880 (43 ) 12 $ 131,586 $ (675 ) 24 $ 269,653 $ (7,567 ) 36 $ 401,239 $ (8,242 ) |
Summary of Cumulative Credit-Related OTTI Charges | The following table presents a summary of the cumulative credit-related OTTI charges recognized as components of earnings for securities for which a portion of an OTTI is recognized in other comprehensive income: Collateralized Debt Obligations Equities Total For the Six Months Ended June 30, 2015 Beginning balance — $ 27 $ 27 Loss where impairment was not previously recognized — — — Additional loss where impairment was previously recognized — — — Reduction due to credit impaired securities sold — — — Ending balance — $ 27 $ 27 For the Six Months Ended June 30, 2014 Beginning balance $ 17,155 $ 27 $ 17,182 Loss where impairment was not previously recognized — — — Additional loss where impairment was previously recognized — — — Reduction due to credit impaired securities sold (17,155 ) — (17,155 ) Ending balance $ — $ 27 $ 27 |
Loans and Leases (Tables)
Loans and Leases (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Summary of Loans and Leases, Net of Unearned Income | Following is a summary of loans and leases, net of unearned income: Originated Loans Acquired Loans Total Loans and June 30, 2015 Commercial real estate $ 3,178,219 $ 674,388 $ 3,852,607 Commercial and industrial 2,343,213 110,655 2,453,868 Commercial leases 190,881 — 190,881 Total commercial loans and leases 5,712,313 785,043 6,497,356 Direct installment 1,623,290 53,059 1,676,349 Residential mortgages 953,840 396,662 1,350,502 Indirect installment 941,851 950 942,801 Consumer lines of credit 972,474 146,496 1,118,970 Other 40,809 — 40,809 $ 10,244,577 $ 1,382,210 $ 11,626,787 December 31, 2014 Commercial real estate $ 3,031,810 $ 783,898 $ 3,815,708 Commercial and industrial 2,197,793 120,222 2,318,015 Commercial leases 177,824 — 177,824 Total commercial loans and leases 5,407,427 904,120 6,311,547 Direct installment 1,579,770 64,851 1,644,621 Residential mortgages 817,586 445,467 1,263,053 Indirect installment 873,645 1,906 875,551 Consumer lines of credit 946,427 164,549 1,110,976 Other 41,290 — 41,290 $ 9,666,145 $ 1,580,893 $ 11,247,038 |
Summary of Outstanding Principal Balance and Carrying Amount of Acquired Loans | The outstanding balance and the carrying amount of acquired loans included in the consolidated balance sheet are as follows: June 30, 2015 December 31, Accounted for under ASC 310-30: Outstanding balance $ 1,423,534 $ 1,597,558 Carrying amount 1,169,717 1,344,171 Accounted for under ASC 310-20: Outstanding balance 219,358 242,488 Carrying amount 205,548 228,748 Total acquired loans: Outstanding balance 1,642,892 1,840,046 Carrying amount 1,375,265 1,572,919 |
Summary of Change in Accretable Yield of Acquired Loans | The following table provides changes in accretable yield for all acquired loans accounted for under ASC 310-30. Loans accounted for under ASC 310-20 are not included in this table. Six Months Ended June 30, 2015 2014 Balance at beginning of period $ 331,899 $ 305,646 Reduction due to unexpected early payoffs (25,735 ) (18,821 ) Reclass from non-accretable difference 15,653 2,605 Disposals/transfers (348 ) (2,130 ) Accretion (31,656 ) (28,275 ) Balance at end of period $ 289,813 $ 259,025 |
Summary of Non-Performing Assets | Following is a summary of non-performing assets: June 30, 2015 December 31, Non-accrual loans $ 45,396 $ 45,113 Troubled debt restructurings 22,916 23,439 Total non-performing loans 68,312 68,552 Other real estate owned (OREO) 40,190 41,466 Total non-performing assets $ 108,502 $ 110,018 Asset quality ratios: Non-performing loans as a percent of total loans and leases 0.59 % 0.61 % Non-performing loans + OREO as a percent of total loans and leases + OREO 0.93 % 0.97 % Non-performing assets as a percent of total assets 0.65 % 0.68 % |
Age Analysis of Past Due Loans, by Class | The following tables provide an analysis of the aging of the Corporation’s past due loans by class, segregated by loans and leases originated and loans acquired: 30-89 Days Past Due ³ 90 Days Non-Accrual Total Past Due Current Total Loans and Originated Loans and Leases June 30, 2015 Commercial real estate $ 6,054 $ 3 $ 24,652 $ 30,709 $ 3,147,510 $ 3,178,219 Commercial and industrial 2,800 3 8,966 11,769 2,331,444 2,343,213 Commercial leases 818 — 699 1,517 189,364 190,881 Total commercial loans and leases 9,672 6 34,317 43,995 5,668,318 5,712,313 Direct installment 9,414 2,969 5,656 18,039 1,605,251 1,623,290 Residential mortgages 8,198 1,536 3,767 13,501 940,339 953,840 Indirect installment 7,040 358 898 8,296 933,555 941,851 Consumer lines of credit 2,192 975 694 3,861 968,613 972,474 Other 65 73 — 138 40,671 40,809 $ 36,581 $ 5,917 $ 45,332 $ 87,830 $ 10,156,747 $ 10,244,577 December 31, 2014 Commercial real estate $ 9,601 $ 313 $ 24,132 $ 34,046 $ 2,997,764 $ 3,031,810 Commercial and industrial 2,446 3 8,310 10,759 2,187,034 2,197,793 Commercial leases 961 43 722 1,726 176,098 177,824 Total commercial loans and leases 13,008 359 33,164 46,531 5,360,896 5,407,427 Direct installment 9,333 3,617 7,117 20,067 1,559,703 1,579,770 Residential mortgages 8,709 3,891 2,964 15,564 802,022 817,586 Indirect installment 7,804 684 1,149 9,637 864,008 873,645 Consumer lines of credit 2,408 562 719 3,689 942,738 946,427 Other 13 135 — 148 41,142 41,290 $ 41,275 $ 9,248 $ 45,113 $ 95,636 $ 9,570,509 $ 9,666,145 30-89 Days Past Due ³ 90 Days and Still Non- Accrual Total Past Due (1) (2) Current Discount Total Loans Acquired Loans June 30, 2015 Commercial real estate $ 10,618 $ 11,098 $ — $ 21,716 $ 691,401 $ (38,729 ) $ 674,388 Commercial and industrial 528 756 64 1,348 117,132 (7,825 ) 110,655 Total commercial loans 11,146 11,854 64 23,064 808,533 (46,554 ) 785,043 Direct installment 1,108 1,057 — 2,165 49,963 931 53,059 Residential mortgages 7,909 15,688 — 23,597 410,919 (37,854 ) 396,662 Indirect installment 21 17 — 38 1,149 (237 ) 950 Consumer lines of credit 654 1,474 — 2,128 148,470 (4,102 ) 146,496 $ 20,838 $ 30,090 $ 64 $ 50,992 $ 1,419,034 $ (87,816 ) $ 1,382,210 December 31, 2014 Commercial real estate $ 12,076 $ 12,368 — $ 24,444 $ 799,991 $ (40,537 ) $ 783,898 Commercial and industrial 687 1,968 — 2,655 127,535 (9,968 ) 120,222 Total commercial loans 12,763 14,336 — 27,099 927,526 (50,505 ) 904,120 Direct installment 2,670 1,443 — 4,113 59,532 1,206 64,851 Residential mortgages 8,159 19,936 — 28,095 456,810 (39,438 ) 445,467 Indirect installment 38 30 — 68 2,179 (341 ) 1,906 Consumer lines of credit 1,048 2,279 — 3,327 166,912 (5,690 ) 164,549 $ 24,678 $ 38,024 — $ 62,702 $ 1,612,959 $ (94,768 ) $ 1,580,893 (1) Past due information for acquired loans is based on the contractual balance outstanding at June 30, 2015 and December 31, 2014. (2) Acquired loans are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if the Corporation can reasonably estimate the timing and amount of expected cash flows on such loans. Accordingly, the Corporation does not consider acquired contractually delinquent loans to be non-accrual or non-performing and continues to recognize interest income on these loans using the accretion method. |
Summary of Commercial Loans and Leases by Credit Quality | The following tables present a summary of the Corporation’s commercial loans and leases by credit quality category, segregated by loans and leases originated and loans acquired: Commercial Loan and Lease Credit Quality Categories Pass Special Substandard Doubtful Total Originated Loans and Leases June 30, 2015 Commercial real estate $ 3,056,070 $ 59,893 $ 61,601 $ 655 $ 3,178,219 Commercial and industrial 2,244,956 60,547 36,140 1,570 2,343,213 Commercial leases 187,988 2,002 891 — 190,881 $ 5,489,014 $ 122,442 $ 98,632 $ 2,225 $ 5,712,313 December 31, 2014 Commercial real estate $ 2,890,830 $ 58,630 $ 81,951 $ 399 $ 3,031,810 Commercial and industrial 2,085,893 71,420 39,684 796 2,197,793 Commercial leases 174,677 2,198 949 — 177,824 $ 5,151,400 $ 132,248 $ 122,584 $ 1,195 $ 5,407,427 Acquired Loans June 30, 2015 Commercial real estate $ 533,067 $ 61,595 $ 79,726 — $ 674,388 Commercial and industrial 97,178 4,076 9,401 — 110,655 $ 630,245 $ 65,671 $ 89,127 — $ 785,043 December 31, 2014 Commercial real estate $ 610,260 $ 73,891 $ 99,747 — $ 783,898 Commercial and industrial 103,862 3,506 12,854 — 120,222 $ 714,122 $ 77,397 $ 112,601 — $ 904,120 |
Summary of Consumer Loans by Payment Status | Following is a table showing originated consumer loans by payment status: Consumer Loan Credit Quality by Payment Status Performing Non- Performing Total June 30, 2015 Direct installment $ 1,608,934 $ 14,356 $ 1,623,290 Residential mortgages 939,368 14,472 953,840 Indirect installment 940,799 1,052 941,851 Consumer lines of credit 970,554 1,920 972,474 Other 40,809 — 40,809 December 31, 2014 Direct installment $ 1,565,090 $ 14,680 $ 1,579,770 Residential mortgages 802,522 15,064 817,586 Indirect installment 872,340 1,305 873,645 Consumer lines of credit 944,631 1,796 946,427 Other 41,290 — 41,290 |
Summary of Impaired Loans and Leases, by Class | Following is a summary of information pertaining to originated loans and leases considered to be impaired, by class of loan and lease: Unpaid Principal Balance Recorded Investment Reserve Recorded Investment Specific Reserve Total Recorded Investment Specific Average Recorded Investment At or for the Six Months Ended June 30, 2015 Commercial real estate $ 35,137 $ 25,753 $ 822 $ 26,575 $ 655 $ 26,301 Commercial and industrial 10,130 7,325 1,909 9,234 1,570 9,650 Commercial leases 699 699 — 699 — 716 Total commercial loans and leases 45,966 33,777 2,731 36,508 2,225 36,667 Direct installment 15,043 14,356 — 14,356 — 14,322 Residential mortgages 14,962 14,472 — 14,472 — 15,076 Indirect installment 2,782 1,052 — 1,052 — 1,208 Consumer lines of credit 2,079 1,920 — 1,920 — 1,808 Other — — — — — — $ 80,832 $ 65,577 $ 2,731 $ 68,308 $ 2,225 $ 69,081 At or for the Year Ended December 31, 2014 Commercial real estate $ 34,583 $ 25,443 $ 883 $ 26,326 $ 399 $ 30,807 Commercial and industrial 11,412 7,609 1,948 9,557 780 9,510 Commercial leases 722 722 — 722 — 686 Total commercial loans and leases 46,717 33,774 2,831 36,605 1,179 41,003 Direct installment 14,987 14,680 — 14,680 — 14,248 Residential mortgages 16,791 15,064 — 15,064 — 16,924 Indirect installment 1,467 1,305 — 1,305 — 1,399 Consumer lines of credit 1,803 1,796 — 1,796 — 1,793 Other — — — — — — $ 81,765 $ 66,619 $ 2,831 $ 69,450 $ 1,179 $ 75,367 |
Summary of Payment Status of Total TDRs | Following is a summary of the payment status of total TDRs: June 30, 2015 December 31, Accruing: Performing $ 11,669 $ 9,441 Non-performing 22,916 23,439 Non-accrual 8,406 8,272 $ 42,991 $ 41,152 |
Summary of Troubled Debt Restructurings by Class of Loans | The majority of TDRs are the result of interest rate concessions for a limited period of time. Following is a summary of loans, by class, that have been restructured: Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Number of Contracts Pre-Modification Recorded Investment Post- Outstanding Recorded Investment Number of Contracts Pre-Modification Recorded Investment Post- Outstanding Recorded Investment Commercial real estate — $ — $ — 2 $ 312 $ 176 Commercial and industrial 1 5 4 1 5 4 Total commercial loans 1 5 4 3 317 180 Direct installment 110 1,761 1,729 241 3,310 3,201 Residential mortgages 7 231 234 21 812 846 Indirect installment 5 14 13 10 30 30 Consumer lines of credit 14 250 249 30 520 519 Other — — — — — — 137 $ 2,261 $ 2,229 305 $ 4,989 $ 4,776 Three Months Ended June 30, 2014 Six Months Ended June 30, 2014 Number of Contracts Pre-Modification Recorded Investment Post- Outstanding Recorded Investment Number of Contracts Pre-Modification Recorded Investment Post- Outstanding Recorded Investment Commercial real estate 8 $ 2,508 $ 2,496 9 $ 2,581 $ 2,553 Commercial and industrial — — — 1 188 188 Total commercial loans 8 2,508 2,496 10 2,769 2,741 Direct installment 136 1,873 1,843 262 3,573 3,479 Residential mortgages 15 1,070 1,045 24 1,359 1,324 Indirect installment 6 18 16 13 34 32 Consumer lines of credit 18 555 553 25 812 807 Other — — — — — — 183 $ 6,024 $ 5,953 334 $ 8,547 $ 8,383 |
Summary of Troubled Debt Restructurings by Class of Loans and Leases, Payment Default | Following is a summary of TDRs, by class of loans and leases, for which there was a payment default, excluding loans that were either charged-off or cured by period end. Default occurs when a loan is 90 days or more past due and is within 12 months of restructuring. Three Months Ended June 30, 2015 (1) Six Months Ended June 30, 2015 (1) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial real estate — $ — — $ — Commercial and industrial 1 229 1 229 Total commercial loans 1 229 1 229 Direct installment 27 96 58 182 Residential mortgages 3 114 4 171 Indirect installment 3 7 5 7 Consumer lines of credit — — 1 92 Other — — — — 34 $ 446 69 $ 681 Three Months Ended June 30, 2014 (1) Six Months Ended June 30, 2014 (1) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial real estate — $ — — $ — Commercial and industrial — — — — Total commercial loans — — — — Direct installment 33 240 47 392 Residential mortgages — — — — Indirect installment 1 — 1 — Consumer lines of credit — — — — Other — — — — Direct installment 34 $ 240 48 $ 392 (1) The recorded investment is as of period end. |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Summary of Changes in Allowance for Credit Losses by Loan and Lease Class | Following is a summary of changes in the allowance for credit losses, by loan and lease class: Balance at Beginning Charge- Recoveries Net Charge- Provision Balance at End of Three Months Ended June 30, 2015 Commercial real estate $ 38,792 $ (977 ) $ 200 $ (777 ) $ 1,857 $ 39,872 Commercial and industrial 32,803 (1,416 ) 976 (440 ) (58 ) 32,305 Commercial leases 2,576 (111 ) 35 (76 ) (277 ) 2,223 Total commercial loans and leases 74,171 (2,504 ) 1,211 (1,293 ) 1,522 74,400 Direct installment 21,204 (2,953 ) 297 (2,656 ) 3,731 22,279 Residential mortgages 8,471 (112 ) 24 (88 ) 196 8,579 Indirect installment 7,657 (1,503 ) 332 (1,171 ) 2,423 8,909 Consumer lines of credit 8,890 (323 ) 36 (287 ) 515 9,118 Other 854 (325 ) 25 (300 ) 357 911 Total allowance on originated loans and leases 121,247 (7,720 ) 1,925 (5,795 ) 8,744 124,196 Purchased credit-impaired loans 621 — — — 37 658 Other acquired loans 6,631 (468 ) 41 (427 ) 83 6,287 Total allowance on acquired loans 7,252 (468 ) 41 (427 ) 120 6,945 Total allowance $ 128,499 $ (8,188 ) $ 1,966 $ (6,222 ) $ 8,864 $ 131,141 Six Months Ended June 30, 2015 Commercial real estate $ 37,588 $ (1,978 ) $ 409 $ (1,569 ) $ 3,853 $ 39,872 Commercial and industrial 32,645 (2,100 ) 1,096 (1,004 ) 664 32,305 Commercial leases 2,398 (204 ) 45 (159 ) (16 ) 2,223 Total commercial loans and leases 72,631 (4,282 ) 1,550 (2,732 ) 4,501 74,400 Direct installment 20,538 (5,386 ) 566 (4,820 ) 6,561 22,279 Residential mortgages 8,024 (623 ) 39 (584 ) 1,139 8,579 Indirect installment 7,504 (2,783 ) 634 (2,149 ) 3,554 8,909 Consumer lines of credit 8,496 (733 ) 76 (657 ) 1,279 9,118 Other 759 (660 ) 36 (624 ) 776 911 Total allowance on originated loans and leases 117,952 (14,467 ) 2,901 (11,566 ) 17,810 124,196 Purchased credit-impaired loans 660 (64 ) 19 (45 ) 43 658 Other acquired loans 7,314 (545 ) 371 (174 ) (853 ) 6,287 Total allowance on acquired loans 7,974 (609 ) 390 (219 ) (810 ) 6,945 Total allowance $ 125,926 $ (15,076 ) $ 3,291 $ (11,785 ) $ 17,000 $ 131,141 Balance at Beginning Charge- Recoveries Net Charge- Provision Balance at End of Three Months Ended June 30, 2014 Commercial real estate $ 38,534 $ (1,572 ) $ 263 $ (1,309 ) $ 1,253 $ 38,478 Commercial and industrial 29,971 (540 ) 168 (372 ) 3,418 33,017 Commercial leases 1,944 (63 ) 53 (10 ) 145 2,079 Total commercial loans and leases 70,449 (2,175 ) 484 (1,691 ) 4,816 73,574 Direct installment 16,630 (2,264 ) 283 (1,981 ) 2,195 16,844 Residential mortgages 5,307 (137 ) 44 (93 ) 292 5,506 Indirect installment 6,500 (696 ) 230 (466 ) 659 6,693 Consumer lines of credit 7,658 (340 ) 38 (302 ) 308 7,664 Other 579 (307 ) 5 (302 ) 630 907 Total allowance on originated loans and leases 107,123 (5,919 ) 1,084 (4,835 ) 8,900 111,188 Purchased credit-impaired loans 708 (1,653 ) — (1,653 ) 1,393 448 Other acquired loans 4,388 (126 ) 738 612 112 5,112 Total allowance on acquired loans 5,096 (1,779 ) 738 (1,041 ) 1,505 5,560 Total allowance $ 112,219 $ (7,698 ) $ 1,822 $ (5,876 ) $ 10,405 $ 116,748 Six Months Ended June 30, 2014 Commercial real estate $ 32,548 $ (3,795 ) $ 562 $ (3,233 ) $ 9,163 $ 38,478 Commercial and industrial 32,603 (1,053 ) 538 (515 ) 929 33,017 Commercial leases 1,903 (150 ) 82 (68 ) 244 2,079 Total commercial loans and leases 67,054 (4,998 ) 1,182 (3,816 ) 10,336 73,574 Direct installment 17,824 (4,785 ) 550 (4,235 ) 3,255 16,844 Residential mortgages 5,836 (269 ) 48 (221 ) (109 ) 5,506 Indirect installment 6,409 (1,498 ) 447 (1,051 ) 1,335 6,693 Consumer lines of credit 7,231 (663 ) 93 (570 ) 1,003 7,664 Other 530 (569 ) 10 (559 ) 936 907 Total allowance on originated loans and leases 104,884 (12,782 ) 2,330 (10,452 ) 16,756 111,188 Purchased credit-impaired loans 1,000 (1,902 ) — (1,902 ) 1,350 448 Other acquired loans 4,900 (117 ) 1,024 907 (695 ) 5,112 Total allowance on acquired loans 5,900 (2,019 ) 1,024 (995 ) 655 5,560 Total allowance $ 110,784 $ (14,801 ) $ 3,354 $ (11,447 ) $ 17,411 $ 116,748 |
Summary of Individual and Collective Allowance for Credit Losses and Loan and Lease Balances by Class | Following is a summary of the individual and collective originated allowance for credit losses and corresponding loan and lease balances by class: Allowance Loans and Leases Outstanding Individually Evaluated for Impairment Collectively Evaluated for Impairment Loans and Individually Evaluated for Impairment Collectively Evaluated for Impairment June 30, 2015 Commercial real estate $ 655 $ 39,217 $ 3,178,219 $ 13,713 $ 3,164,506 Commercial and industrial 1,570 30,735 2,343,213 5,585 2,337,628 Commercial leases — 2,223 190,881 — 190,881 Total commercial loans and leases 2,225 72,175 5,712,313 19,298 5,693,015 Direct installment — 22,279 1,623,290 — 1,623,290 Residential mortgages — 8,579 953,840 — 953,840 Indirect installment — 8,909 941,851 — 941,851 Consumer lines of credit — 9,118 972,474 — 972,474 Other — 911 40,809 — 40,809 $ 2,225 $ 121,971 $ 10,244,577 $ 19,298 $ 10,225,279 December 31, 2014 Commercial real estate $ 399 $ 37,189 $ 3,031,810 $ 13,952 $ 3,017,858 Commercial and industrial 780 31,865 2,197,793 5,837 2,191,956 Commercial leases — 2,398 177,824 — 177,824 Total commercial loans and leases 1,179 71,452 5,407,427 19,789 5,387,638 Direct installment — 20,538 1,579,770 — 1,579,770 Residential mortgages — 8,024 817,586 — 817,586 Indirect installment — 7,504 873,645 — 873,645 Consumer lines of credit — 8,496 946,427 — 946,427 Other — 759 41,290 — 41,290 $ 1,179 $ 116,773 $ 9,666,145 $ 19,789 $ 9,646,356 |
Borrowings (Tables)
Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Summary of Short-Term Borrowings | Following is a summary of short-term borrowings: June 30, 2015 December 31, Securities sold under repurchase agreements $ 212,380 $ 882,696 Federal Home Loan Bank advances 840,000 820,000 Federal funds purchased 330,000 210,000 Subordinated notes 125,202 128,962 $ 1,507,582 $ 2,041,658 |
Summary of Long-Term Borrowings | Following is a summary of long-term borrowings: June 30, 2015 December 31, Federal Home Loan Bank advances $ 400,017 $ 400,042 Subordinated notes 84,289 83,155 Junior subordinated debt 58,272 58,246 $ 542,578 $ 541,443 |
Junior Subordinated Debt Trusts | The following table provides information relating to the Trusts as of June 30, 2015: Trust Preferred Securities Common Securities Junior Subordinated Debt Stated Maturity Date Interest Rate F.N.B. Statutory Trust II $ 21,500 $ 665 $ 22,165 6/15/36 1.94 % Variable; 3-month LIBOR + 165 basis points (bps) Omega Financial Capital Trust I 36,000 1,114 36,107 10/18/34 2.47 % Variable; 3-month LIBOR + 219 bps $ 57,500 $ 1,779 $ 58,272 |
Derivative and Hedging Activi33
Derivative and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Schedule of Notional Amounts and Gross Fair Values of Derivative Assets and Derivative Liabilities | The following table presents notional amounts and gross fair values of all derivative assets and derivative liabilities held by the Corporation: June 30, 2015 December 31, 2014 Notional Fair Value Notional Fair Value Amount Asset Liability Amount Asset Liability Gross Derivatives Subject to master netting arrangements: Interest rate contracts – designated $ 200,000 $ 1,867 $ 1,869 $ 200,000 $ 2,109 $ 2,330 Interest rate swaps – not designated 1,080,889 491 40,943 972,002 140 43,655 Equity contracts – not designated 1,210 17 — 1,210 47 — Total subject to master netting arrangements 1,282,099 2,375 42,812 1,173,212 2,296 45,985 Not subject to master netting arrangements: Interest rate swaps – not designated 1,080,889 40,664 377 972,002 43,602 128 Credit risk contracts – not designated 102,700 10 114 68,632 — — Equity contracts – not designated 1,210 — 16 1,210 — 47 Total not subject to master netting arrangements 1,184,799 40,674 507 1,041,844 43,602 175 $ 2,466,898 $ 43,049 $ 43,319 $ 2,215,056 $ 45,898 $ 46,160 |
Derivative Assets | Gross Gross Net Amount the Balance June 30, 2015 Derivative Assets Subject to master netting arrangements: Interest rate contracts Designated $ 1,867 — $ 1,867 Not designated 491 — 491 Equity contracts – not designated 17 — 17 Not subject to master netting arrangements: Interest rate contracts – not designated 40,664 — 40,664 Credit contracts – not designated 10 — 10 $ 43,049 — $ 43,049 December 31, 2014 Derivative Assets Subject to master netting arrangements: Interest rate contracts Designated $ 2,109 — $ 2,109 Not designated 140 — 140 Equity contracts – not designated 47 — 47 Not subject to master netting arrangements: Interest rate contracts – not designated 43,602 — 43,602 $ 45,898 — $ 45,898 |
Derivative Liabilities | Gross Gross Net Amount the Balance June 30, 2015 Derivative Liabilities Subject to master netting arrangements: Interest rate contracts Designated $ 1,869 — $ 1,869 Not designated 40,943 — 40,943 Not subject to master netting arrangements: Interest rate contracts – not designated 377 — 377 Credit contracts – not designated 114 — 114 Equity contracts – not designated 16 — 16 $ 43,319 — $ 43,319 December 31, 2014 Derivative Liabilities Subject to master netting arrangements: Interest rate contracts Designated $ 2,330 — $ 2,330 Not designated 43,655 — 43,655 Not subject to master netting arrangements: Interest rate contracts – not designated 128 — 128 Equity contracts – not designated 47 — 47 $ 46,160 — $ 46,160 |
Effect of Corporation's Derivative Financial Instruments on Income Statement | The following table presents the effect of certain of the Corporation’s derivative financial instruments on the income statement: Income Six Months Ended Statement June 30, Location 2015 2014 Interest Rate Swaps Other income $ (123 ) $ 1 Credit Risk Contracts Other income (105 ) — |
Collateral Held By Counterparty [Member] | |
Derivative Assets | Amount Not Offset in the Balance Sheet Net Amount the Balance Sheet Financial Cash Net Amount June 30, 2015 Derivative Assets Interest rate contracts: Designated $ 1,867 $ 519 $ 1,348 — Not designated 491 105 386 — Equity contracts – not designated 17 17 — — $ 2,375 $ 641 $ 1,734 — December 31, 2014 Derivative Assets Interest rate contracts: Designated $ 2,109 $ 810 $ 1,299 — Not designated 140 138 2 — Equity contracts – not designated 47 47 — — $ 2,296 $ 995 $ 1,301 — |
Derivative Liabilities | Amount Not Offset in the Balance Sheet Net Amount the Balance Sheet Financial Cash Net Amount June 30, 2015 Derivative Liabilities Interest rate contracts: Designated $ 1,869 $ 1,869 $ — $ — Not designated 40,943 24,793 14,388 1,762 $ 42,812 $ 26,662 $ 14,388 $ 1,762 December 31, 2014 Derivative Liabilities Interest rate contracts: Designated $ 2,330 $ 2,330 $ — $ — Not designated 43,655 28,646 13,243 1,766 $ 45,985 $ 30,976 $ 13,243 $ 1,766 |
Commitments, Credit Risk and 34
Commitments, Credit Risk and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Off-Balance Sheet Credit Risk Information | Following is a summary of off-balance sheet credit risk information: June 30, 2015 December 31, 2014 Commitments to extend credit $ 3,921,382 $ 3,665,481 Standby letters of credit 108,436 121,186 |
Stock Incentive Plans (Tables)
Stock Incentive Plans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Information Concerning Restricted Stock Awards | The following table summarizes certain information concerning restricted stock awards: Six Months Ended June 30, 2015 2014 Awards Weighted Average Grant Awards Weighted Average Grant Unvested awards outstanding at beginning of period 1,354,093 $ 11.86 1,729,033 $ 10.23 Granted 401,510 13.16 357,341 13.63 Net adjustment due to performance (46,956 ) 10.25 (87,512 ) 11.41 Vested (460,606 ) 10.61 (698,121 ) 8.77 Forfeited (2,774 ) 17.24 (32,909 ) 10.99 Dividend reinvestment 18,359 14.13 22,501 12.74 Unvested awards outstanding at end of period 1,263,626 12.82 1,290,333 11.90 |
Components of Restricted Stock Awards | The components of the restricted stock awards as of June 30, 2015 are as follows: Service- Awards Performance- Based Awards Total Unvested awards 663,106 600,520 1,263,626 Unrecognized compensation expense $ 5,165 $ 2,976 $ 8,141 Intrinsic value $ 9,496 $ 8,599 $ 18,095 Weighted average remaining life (in years) 2.31 2.20 2.26 |
Summary of Information Concerning Stock Option Awards | The following table summarizes certain information concerning stock option awards: Six Months Ended June 30, 2015 2014 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options outstanding at beginning of period 568,834 $ 8.86 533,524 $ 11.50 Assumed from acquisitions — — 304,785 5.77 Exercised (82,810 ) 5.57 (134,687 ) 6.24 Forfeited (2,182 ) 4.34 (52,262 ) 25.03 Options outstanding and exercisable at end of period 483,842 9.44 651,360 8.82 |
Retirement Plans (Tables)
Retirement Plans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Net Periodic Benefit Credit for Defined Benefit Plans | The net periodic benefit credit for the defined benefit plans includes the following components: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Service cost $ 17 $ 16 $ 34 $ 32 Interest cost 1,477 1,596 2,954 3,192 Expected return on plan assets (2,491 ) (2,487 ) (4,982 ) (4,974 ) Amortization: Unrecognized net transition asset — (5 ) — (10 ) Unrecognized prior service cost 2 2 4 4 Unrecognized loss 536 337 1,072 674 Net periodic pension credit $ (459 ) $ (541 ) $ (918 ) $ (1,082 ) |
Comprehensive Income (Tables)
Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Components of Comprehensive Income, Net of Related Tax | The components of comprehensive income, net of related tax, are as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Net income $ 40,131 $ 34,831 $ 80,474 $ 69,355 Other comprehensive (loss) income: Securities available for sale: Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(3,870), $2,935, $652 and $11,950 (7,188 ) 5,451 1,212 22,193 Reclassification adjustment for gains included in net income, net of tax expense of $5, $272, $2 and $3,583 (9 ) (504 ) (3 ) (6,654 ) Derivative instruments: Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(860), $1,537, $645 and $2,939 (1,597 ) 2,855 1,196 5,458 Reclassification adjustment for gains included in net income, net of tax expense of $285, $290, $568 and $575 (529 ) (538 ) (1,055 ) (1,067 ) Pension and postretirement benefit obligations: Unrealized gains arising during the period, net of tax expense of $189, $117, $377 and $234 350 218 700 435 Other comprehensive (loss) income (8,973 ) 7,482 2,050 20,365 Comprehensive income $ 31,158 $ 42,313 $ 82,524 $ 89,720 |
Changes in AOCI, Net of Tax, by Component | The following table presents changes in AOCI, net of tax, by component: Unrealized Net Gains (Losses) on Securities Available for Sale Unrealized Net Gains Derivative Instruments Unrecognized Postretirement Obligations Total Six Months Ended June 30, 2015 Balance at beginning of period $ (440 ) $ (143 ) $ (45,420 ) $ (46,003 ) Other comprehensive income before reclassifications 1,212 1,196 700 3,108 Amounts reclassified from AOCI (3 ) (1,055 ) — (1,058 ) Net current period other comprehensive income 1,209 141 700 2,050 Balance at end of period $ 769 $ (2 ) $ (44,720 ) $ (43,953 ) |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Common Share | The following table sets forth the computation of basic and diluted earnings per common share: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Net income $ 40,131 $ 34,831 $ 80,474 $ 69,355 Less: Preferred stock dividends 2,010 2,010 4,020 4,332 Net income available to common stockholders $ 38,121 $ 32,821 $ 76,454 $ 65,023 Basic weighted average common shares outstanding 174,940,911 166,185,080 174,548,775 164,196,783 Net effect of dilutive stock options, warrants, restricted stock and convertible debt 1,420,929 1,682,528 1,547,420 1,731,577 Diluted weighted average common shares outstanding 176,361,840 167,867,608 176,096,195 165,928,360 Earnings per common share: Basic $ 0.22 $ 0.20 $ 0.44 $ 0.40 Diluted $ 0.22 $ 0.20 $ 0.43 $ 0.39 |
Cash Flow Information (Tables)
Cash Flow Information (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Supplemental Cash Flow Elements [Abstract] | |
Summary of Supplemental Cash Flow Information | Following is a summary of supplemental cash flow information: 2015 2014 Six Months Ended June 30 Interest paid on deposits and other borrowings $ 23,621 $ 21,366 Income taxes paid 21,000 1,000 Transfers of loans to other real estate owned 4,744 6,660 Financing of other real estate owned sold 222 259 |
Business Segments (Tables)
Business Segments (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Segment Reporting [Abstract] | |
Financial Information for Segments of Corporation | The following tables provide financial information for these segments of the Corporation. The information provided under the caption “Parent and Other” represents operations not considered to be reportable segments and/or general operating expenses of the Corporation, and includes the parent company, other non-bank subsidiaries and eliminations and adjustments which are necessary for purposes of reconciliation to the consolidated amounts. Community Wealth Management Insurance Consumer Parent and Consolidated At or for the Three Months Ended June 30, 2015 Interest income $ 123,967 $ — $ 22 $ 9,778 $ 1,681 $ 135,448 Interest expense 10,166 — — 855 660 11,681 Net interest income 113,801 — 22 8,923 1,021 123,767 Provision for credit losses 6,945 — — 1,964 (45 ) 8,864 Non-interest income 28,313 9,199 2,753 732 (1,245 ) 39,752 Non-interest expense 78,339 6,931 3,581 4,994 655 94,500 Intangible amortization 1,830 68 101 — — 1,999 Income tax expense (benefit) 17,009 789 (312 ) 1,038 (499 ) 18,025 Net income (loss) 37,991 1,411 (595 ) 1,659 (335 ) 40,131 Total assets 16,412,240 21,255 22,523 186,134 (43,551 ) 16,598,601 Total intangibles 851,250 10,584 12,747 1,809 — 876,390 At or for the Three Months Ended June 30, 2014 Interest income $ 113,161 $ — $ 25 $ 9,578 $ 1,676 $ 124,440 Interest expense 8,730 — — 809 709 10,248 Net interest income 104,431 — 25 8,769 967 114,192 Provision for credit losses 8,425 — — 1,778 202 10,405 Non-interest income 27,420 8,033 2,999 741 (3 ) 39,190 Non-interest expense 75,281 6,452 2,911 4,880 599 90,123 Intangible amortization 2,288 72 101 — — 2,461 Income tax expense (benefit) 14,048 548 8 1,097 (139 ) 15,562 Net income (loss) 31,809 961 4 1,755 302 34,831 Total assets 14,842,988 21,828 20,785 182,401 (48,755 ) 15,019,247 Total intangibles 830,809 10,864 10,324 1,809 — 853,806 Community Wealth Management Insurance Consumer Parent and Consolidated At or for the Six Months Ended June 30, 2015 Interest income $ 246,085 $ — $ 45 $ 19,371 $ 3,316 $ 268,817 Interest expense 20,107 — — 1,715 1,307 23,129 Net interest income 225,978 — 45 17,656 2,009 245,688 Provision for credit losses 13,272 — — 3,538 190 17,000 Non-interest income 55,614 17,586 6,346 1,408 (3,020 ) 77,934 Non-interest expense 155,418 13,424 7,751 9,802 645 187,040 Intangible amortization 3,777 136 201 — — 4,114 Income tax expense (benefit) 32,940 1,447 (538 ) 2,187 (1,042 ) 34,994 Net income (loss) 76,185 2,579 (1,023 ) 3,537 (804 ) 80,474 Total assets 16,412,240 21,255 22,523 186,134 (43,551 ) 16,598,601 Total intangibles 851,250 10,584 12,747 1,809 — 876,390 At or for the Six Months Ended June 30, 2014 Interest income $ 219,852 $ — $ 50 $ 18,943 $ 3,475 $ 242,320 Interest expense 16,978 — — 1,655 1,670 20,303 Net interest income 202,874 — 50 17,288 1,805 222,017 Provision for credit losses 13,721 — — 3,235 455 17,411 Non-interest income 59,333 15,356 7,209 1,401 (2,039 ) 81,260 Non-interest expense 152,147 12,744 5,957 9,817 1,341 182,006 Intangible amortization 4,398 144 202 — — 4,744 Income tax expense (benefit) 27,391 899 393 2,170 (1,092 ) 29,761 Net income (loss) 64,550 1,569 707 3,467 (938 ) 69,355 Total assets 14,842,988 21,828 20,785 182,401 (48,755 ) 15,019,247 Total intangibles 830,809 10,864 10,324 1,809 — 853,806 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table presents the balances of assets and liabilities measured at fair value on a recurring basis: Level 1 Level 2 Level 3 Total June 30, 2015 Assets Measured at Fair Value Available for sale debt securities: U.S. Treasury $ — $ 29,928 $ — $ 29,928 U.S. government-sponsored entities — 404,076 — 404,076 Residential mortgage-backed securities: Agency mortgage-backed securities — 593,756 — 593,756 Agency collateralized mortgage obligations — 555,597 — 555,597 Non-agency collateralized mortgage obligations — 9 1,270 1,279 Commercial mortgage-backed securities — 5,006 — 5,006 States of the U.S. and political subdivisions — 11,457 — 11,457 Other debt securities — 16,241 — 16,241 — 1,616,070 1,270 1,617,340 Available for sale equity securities: Financial services industry 94 677 387 1,158 Insurance services industry 122 — — 122 216 677 387 1,280 216 1,616,747 1,657 1,618,620 Derivative financial instruments: Trading — 41,172 — 41,172 Not for trading — 1,877 — 1,877 — 43,049 — 43,049 $ 216 $ 1,659,796 $ 1,657 $ 1,661,669 Liabilities Measured at Fair Value Derivative financial instruments: Trading — $ 41,336 — $ 41,336 Not for trading — 1,983 — 1,983 — $ 43,319 — $ 43,319 Level 1 Level 2 Level 3 Total December 31, 2014 Assets Measured at Fair Value Available for sale debt securities: U.S. Treasury $ — $ 29,682 $ — $ 29,682 U.S. government-sponsored entities — 337,133 — 337,133 Residential mortgage-backed securities: Agency mortgage-backed securities — 554,085 — 554,085 Agency collateralized mortgage obligations — 573,171 — 573,171 Non-agency collateralized mortgage obligations — 11 1,420 1,431 Commercial mortgage-backed securities — 7,880 — 7,880 States of the U.S. and political subdivisions — 13,158 — 13,158 Other debt securities — 16,178 — 16,178 — 1,531,298 1,420 1,532,718 Available for sale equity securities: Financial services industry 99 654 475 1,228 Insurance services industry 119 — — 119 218 654 475 1,347 218 1,531,952 1,895 1,534,065 Derivative financial instruments: Trading — 43,789 — 43,789 Not for trading — 2,109 — 2,109 — 45,898 — 45,898 $ 218 $ 1,577,850 $ 1,895 $ 1,579,963 Liabilities Measured at Fair Value Derivative financial instruments: Trading — $ 43,830 — $ 43,830 Not for trading — 2,330 — 2,330 — $ 46,160 — $ 46,160 |
Additional Information about Assets Measured at Fair Value on Recurring Basis | The following table presents additional information about assets measured at fair value on a recurring basis and for which the Corporation has utilized Level 3 inputs to determine fair value: Pooled Trust Debt Obligations Equity Residential Non-Agency Collateralized Mortgage Obligations Total Six Months Ended June 30, 2015 Balance at beginning of period — $ 475 $ 1,420 $ 1,895 Total gains (losses) – realized/unrealized: Included in earnings — — — — Included in other comprehensive income — (32 ) (8 ) (40 ) Accretion included in earnings — — 2 2 Purchases, issuances, sales and settlements: Purchases — — — — Issuances — — — — Sales/redemptions — — — — Settlements — — (144 ) (144 ) Transfers from Level 3 — (56 ) — (56 ) Transfers into Level 3 — — — — Balance at end of period — $ 387 $ 1,270 $ 1,657 Year Ended December 31, 2014 Balance at beginning of period $ 31,595 $ 410 $ 1,744 $ 33,749 Total gains (losses) – realized/unrealized: Included in earnings 13,766 — — 13,766 Included in other comprehensive income 5,608 65 3 5,676 Accretion included in earnings 657 — 5 662 Purchases, issuances, sales and settlements: Purchases — — — — Issuances — — — — Sales/redemptions (51,527 ) — — (51,527 ) Settlements (99 ) — (332 ) (431 ) Transfers from Level 3 — — — — Transfers into Level 3 — — — — Balance at end of period $ — $ 475 $ 1,420 $ 1,895 |
Additional Information about Assets Measured at Fair Value on Non-Recurring Basis | For assets measured at fair value on a non-recurring basis still held at the balance sheet date, the following table provides the hierarchy level and the fair value of the related assets or portfolios: Level 1 Level 2 Level 3 Total June 30, 2015 Impaired loans — $ 113 $ 609 $ 722 Other real estate owned — 4,170 2,166 6,336 December 31, 2014 Impaired loans — 177 1,528 1,705 Other real estate owned — 5,695 2,365 8,060 |
Fair Values of Corporation's Financial Instruments | The fair values of the Corporation’s financial instruments are as follows: Fair Value Measurements Carrying Fair Value Level 1 Level 2 Level 3 June 30, 2015 Financial Assets Cash and cash equivalents $ 237,479 $ 237,479 $ 237,479 $ — $ — Securities available for sale 1,618,620 1,618,620 216 1,616,747 1,657 Securities held to maturity 1,518,060 1,526,040 — 1,522,654 3,386 Net loans and leases, including loans held for sale 11,502,357 11,312,391 — — 11,312,391 Derivative assets 43,049 43,049 — 43,049 — Accrued interest receivable 41,824 41,824 41,824 — — Financial Liabilities Deposits 12,358,127 12,356,232 9,770,550 2,585,682 — Short-term borrowings 1,507,582 1,507,582 1,507,582 — — Long-term borrowings 542,578 541,578 — — 541,578 Derivative liabilities 43,319 43,319 — 43,319 — Accrued interest payable 6,197 6,197 6,197 — — December 31, 2014 Financial Assets Cash and cash equivalents $ 287,393 $ 287,393 $ 287,393 $ — $ — Securities available for sale 1,534,065 1,534,065 218 1,531,952 1,895 Securities held to maturity 1,453,355 1,468,258 — 1,463,945 4,313 Net loans and leases, including loans held for sale 11,127,292 10,956,544 — — 10,956,544 Derivative assets 45,898 45,898 — 45,898 — Accrued interest receivable 40,231 40,231 40,231 — — Financial Liabilities Deposits 11,382,208 11,382,402 8,771,173 2,611,229 — Short-term borrowings 2,041,658 2,041,672 2,041,672 — — Long-term borrowings 541,443 539,007 — — 539,007 Derivative liabilities 46,160 46,160 — 46,160 — Accrued interest payable 6,689 6,689 6,689 — — |
Business - Additional Informati
Business - Additional Information (Detail) - Jun. 30, 2015 | StateOfficeLocation |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of states, Company operating financial services | State | 6 |
Number of metropolitan areas, Company operating financial services | Location | 3 |
Number of consumer finance offices | 73 |
Number of banking offices | 284 |
Mergers and Acquisitions - Addi
Mergers and Acquisitions - Additional Information (Detail) $ in Thousands | Aug. 04, 2015USD ($) | May. 27, 2015USD ($)Branch | Sep. 19, 2014USD ($)shares | Feb. 15, 2014USD ($)shares | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) |
Business Acquisition [Line Items] | ||||||
Goodwill recorded as a result of merger | $ 831,333 | $ 832,213 | ||||
OBA Financial Services, Inc. (OBA) [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Assets acquired as a result of merger | $ 390,160 | |||||
Loans acquired as a result of merger | 291,393 | |||||
Deposits acquired as a result of merger | 295,922 | |||||
Value of acquisition | $ 85,554 | |||||
Common shares issued | shares | 7,170,037 | |||||
Common shares acquired | shares | 4,025,895 | |||||
Goodwill recorded as a result of merger | $ 20,107 | |||||
Core deposit intangibles recorded as result of the acquisition | $ 4,304 | |||||
BCSB Bancorp, Inc. (BCSB) [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Assets acquired as a result of merger | $ 596,122 | |||||
Loans acquired as a result of merger | 304,932 | |||||
Deposits acquired as a result of merger | 532,197 | |||||
Value of acquisition | $ 80,547 | |||||
Common shares issued | shares | 6,730,597 | |||||
Common shares acquired | shares | 3,235,961 | |||||
Goodwill recorded as a result of merger | $ 42,451 | |||||
Core deposit intangibles recorded as result of the acquisition | $ 6,591 | |||||
Bank of America [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Deposits acquired on acquisition | $ 280,000 | |||||
Number of branch-banking locations acquired | Branch | 5 | |||||
Metro Bancorp Inc [Member] | Subsequent Event [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Assets acquired as a result of merger | $ 3,001,357 | |||||
Value of acquisition | $ 474,000 | |||||
Number of shares entitled to receive as per Merger agreement, Ratio | 2.373 |
Securities - Schedule of Amorti
Securities - Schedule of Amortized Cost and Fair Value of Securities Available for Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | $ 1,617,439 | $ 1,534,771 |
Securities Available For Sale, Gross Unrealized Gains | 11,876 | 11,215 |
Securities Available For Sale, Gross Unrealized Losses | (10,695) | (11,921) |
Securities Available For Sale, Fair Value | 1,618,620 | 1,534,065 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 29,670 | 29,604 |
Securities Available For Sale, Gross Unrealized Gains | 258 | 78 |
Securities Available For Sale, Fair Value | 29,928 | 29,682 |
U.S. Government-Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 403,396 | 338,330 |
Securities Available For Sale, Gross Unrealized Gains | 1,853 | 742 |
Securities Available For Sale, Gross Unrealized Losses | (1,173) | (1,939) |
Securities Available For Sale, Fair Value | 404,076 | 337,133 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 588,103 | 546,572 |
Securities Available For Sale, Gross Unrealized Gains | 6,454 | 7,548 |
Securities Available For Sale, Gross Unrealized Losses | (801) | (35) |
Securities Available For Sale, Fair Value | 593,756 | 554,085 |
Securities Available For Sale, Fair Value | 593,756 | |
Agency Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 561,212 | 580,601 |
Securities Available For Sale, Gross Unrealized Gains | 2,324 | 1,617 |
Securities Available For Sale, Gross Unrealized Losses | (7,939) | (9,047) |
Securities Available For Sale, Fair Value | 555,597 | 573,171 |
Securities Available For Sale, Fair Value | 555,597 | |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 1,270 | 1,414 |
Securities Available For Sale, Gross Unrealized Gains | 9 | 17 |
Securities Available For Sale, Fair Value | 1,279 | 1,431 |
Securities Available For Sale, Fair Value | 1,279 | |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 5,004 | 7,891 |
Securities Available For Sale, Gross Unrealized Gains | 2 | |
Securities Available For Sale, Gross Unrealized Losses | (11) | |
Securities Available For Sale, Fair Value | 5,006 | 7,880 |
Securities Available For Sale, Fair Value | 5,006 | |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 11,138 | 12,713 |
Securities Available For Sale, Gross Unrealized Gains | 359 | 477 |
Securities Available For Sale, Gross Unrealized Losses | (40) | (32) |
Securities Available For Sale, Fair Value | 11,457 | 13,158 |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 16,671 | 16,615 |
Securities Available For Sale, Gross Unrealized Gains | 312 | 420 |
Securities Available For Sale, Gross Unrealized Losses | (742) | (857) |
Securities Available For Sale, Fair Value | 16,241 | 16,178 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 1,616,464 | 1,533,740 |
Securities Available For Sale, Gross Unrealized Gains | 11,571 | 10,899 |
Securities Available For Sale, Gross Unrealized Losses | (10,695) | (11,921) |
Securities Available For Sale, Fair Value | 1,617,340 | 1,532,718 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 975 | 1,031 |
Securities Available For Sale, Gross Unrealized Gains | 305 | 316 |
Securities Available For Sale, Gross Unrealized Losses | 0 | 0 |
Securities Available For Sale, Fair Value | 1,280 | $ 1,347 |
Securities Available For Sale, Fair Value | $ 1,280 |
Securities - Schedule of Amor45
Securities - Schedule of Amortized Cost and Fair Value of Securities Held to Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | $ 1,518,060 | $ 1,453,355 |
Securities Held To Maturity, Gross Unrealized Gains | 18,719 | 23,145 |
Securities Held To Maturity, Gross Unrealized Losses | (10,739) | (8,242) |
Securities held to maturity, fair value | 1,526,040 | 1,468,258 |
U.S. Treasury [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 500 | 502 |
Securities Held To Maturity, Gross Unrealized Gains | 152 | 168 |
Securities held to maturity, fair value | 652 | 670 |
U.S. Government-Sponsored Entities [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 146,561 | 101,602 |
Securities Held To Maturity, Gross Unrealized Gains | 1,054 | 885 |
Securities Held To Maturity, Gross Unrealized Losses | (379) | (524) |
Securities held to maturity, fair value | 147,236 | 101,963 |
Agency Mortgage-Backed Securities [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 670,817 | 677,169 |
Securities Held To Maturity, Gross Unrealized Gains | 12,981 | 16,712 |
Securities Held To Maturity, Gross Unrealized Losses | (1,006) | (346) |
Securities held to maturity, fair value | 682,792 | 693,535 |
Agency Collateralized Mortgage Obligations [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 484,832 | 501,965 |
Securities Held To Maturity, Gross Unrealized Gains | 2,351 | 1,858 |
Securities Held To Maturity, Gross Unrealized Losses | (6,793) | (7,329) |
Securities held to maturity, fair value | 480,390 | 496,494 |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 3,375 | 4,285 |
Securities Held To Maturity, Gross Unrealized Gains | 14 | 28 |
Securities Held To Maturity, Gross Unrealized Losses | (3) | |
Securities held to maturity, fair value | 3,386 | 4,313 |
Commercial Mortgage-Backed Securities [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 17,410 | 17,560 |
Securities Held To Maturity, Gross Unrealized Gains | 231 | 179 |
Securities held to maturity, fair value | 17,641 | 17,739 |
States of the U.S. and Political Subdivisions [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 194,565 | 150,272 |
Securities Held To Maturity, Gross Unrealized Gains | 1,936 | 3,315 |
Securities Held To Maturity, Gross Unrealized Losses | (2,558) | (43) |
Securities held to maturity, fair value | $ 193,943 | $ 153,544 |
Securities - Gross Gains and Gr
Securities - Gross Gains and Gross Losses Realized on Sales of Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Gross gains | $ 14 | $ 739 | $ 14 | $ 18,748 |
Gross losses | 37 | (9) | (8,511) | |
Total | $ 14 | $ 776 | $ 5 | $ 10,237 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015USD ($)Security | Jun. 30, 2014USD ($) | Mar. 31, 2014USD ($)Securities | Jun. 30, 2015USD ($)Security | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Schedule Of Securities [Line Items] | ||||||
Number of pooled issue securities | Securities | 23 | |||||
Net proceeds from sale of securities | $ 33,228 | $ 150,055 | ||||
Net securities (losses) gains | $ 14 | $ 776 | 5 | 10,237 | ||
Securities pledged to secure public deposits, trust deposits and for other purposes, carrying value | 1,961,096 | 1,961,096 | $ 1,036,380 | |||
Securities pledged as collateral for short-term borrowings, carrying value | $ 240,738 | $ 240,738 | $ 892,647 | |||
Number of single-issuer securities | Security | 4 | 4 | ||||
Estimated fair value of single-issue trust preferred securities | $ 6,150 | $ 6,150 | ||||
Amortized cost of single-issue trust preferred securities | 6,892 | 6,892 | ||||
Impairment losses on securities | 0 | $ 0 | ||||
Municipal bond portfolio, value | $ 206,022 | 206,022 | ||||
Municipal Debt Securities [Member] | Weighted Average [Member] | ||||||
Schedule Of Securities [Line Items] | ||||||
Average holding size of securities in bond portfolio | $ 1,355 | |||||
Municipal Debt Securities [Member] | Combined A Rating [Member] | Minimum [Member] | ||||||
Schedule Of Securities [Line Items] | ||||||
Percentage of portfolio | 99.00% | |||||
Municipal Debt Securities [Member] | General Obligation Bonds [Member] | ||||||
Schedule Of Securities [Line Items] | ||||||
Percentage of portfolio | 99.60% | |||||
Municipal Debt Securities [Member] | Pennsylvania, Ohio and Maryland [Member] | ||||||
Schedule Of Securities [Line Items] | ||||||
Percentage of portfolio | 92.50% | |||||
Municipal Debt Securities [Member] | Capital Support Agreement [Member] | ||||||
Schedule Of Securities [Line Items] | ||||||
Percentage of portfolio | 84.00% | |||||
Pooled TPS [Member] | ||||||
Schedule Of Securities [Line Items] | ||||||
Net proceeds from sale of securities | $ 51,540 | |||||
Net securities (losses) gains | 13,766 | |||||
Other Securities [Member] | ||||||
Schedule Of Securities [Line Items] | ||||||
Net securities (losses) gains | $ (3,529) |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities, by Contractual Maturities (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule Of Securities [Line Items] | ||
Available for Sale, Due in one year or less, Amortized Cost | $ 4,990 | |
Available for Sale, Due from one to five years, Amortized Cost | 438,979 | |
Available for Sale, Due from five to ten years, Amortized Cost | 10,014 | |
Available for Sale, Due after ten years, Amortized Cost | 6,892 | |
Available for Sale, with contractual maturities, Amortized Cost | 460,875 | |
Total securities available for sale, Amortized Cost | 1,617,439 | $ 1,534,771 |
Available for Sale, Due in one year or less, Fair Value | 5,040 | |
Available for Sale, Due from one to five years, Fair Value | 440,208 | |
Available for Sale, Due from five to ten years, Fair Value | 10,304 | |
Available for Sale, Due after ten years, Fair Value | 6,150 | |
Available for Sale, with contractual maturities, Fair Value | 461,702 | |
Total available for sale Securities, Fair Value | 1,618,620 | 1,534,065 |
Held to Maturity, Due in one year or less, Amortized Cost | 1,010 | |
Held to Maturity, Due from one to five years, Amortized Cost | 140,854 | |
Held to Maturity, Due from five to ten years, Amortized Cost | 72,031 | |
Held to Maturity, Due after ten years, Amortized Cost | 127,731 | |
Securities Held To Maturity, with contractual maturities, Amortized Cost | 341,626 | |
Held to Maturity, with contractual maturities, Amortized Cost | 1,518,060 | 1,453,355 |
Held to Maturity, Due in one year or less, Fair Value | 1,017 | |
Held to Maturity, Due from one to five years, Fair Value | 141,072 | |
Held to Maturity, Due from five to ten years, Fair Value | 73,550 | |
Held to Maturity, Due after ten years, Fair Value | 126,192 | |
Securities Held To Maturity, with contractual maturities, Fair Value | 341,831 | |
Held to Maturity, with contractual maturities, Fair Value | 1,526,040 | 1,468,258 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 588,103 | 546,572 |
Total available for sale Securities, Fair Value | 593,756 | |
Held to Maturity, with contractual maturities, Amortized Cost | 670,817 | 677,169 |
Held to Maturity, with contractual maturities, Fair Value | 682,792 | 693,535 |
Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 561,212 | 580,601 |
Total available for sale Securities, Fair Value | 555,597 | |
Held to Maturity, with contractual maturities, Amortized Cost | 484,832 | 501,965 |
Held to Maturity, with contractual maturities, Fair Value | 480,390 | 496,494 |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 1,270 | 1,414 |
Total available for sale Securities, Fair Value | 1,279 | |
Held to Maturity, with contractual maturities, Amortized Cost | 3,375 | 4,285 |
Held to Maturity, with contractual maturities, Fair Value | 3,386 | 4,313 |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 5,004 | 7,891 |
Total available for sale Securities, Fair Value | 5,006 | |
Held to Maturity, with contractual maturities, Amortized Cost | 17,410 | 17,560 |
Held to Maturity, with contractual maturities, Fair Value | 17,641 | 17,739 |
Equity Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 975 | $ 1,031 |
Total available for sale Securities, Fair Value | $ 1,280 |
Securities - Summaries of Fair
Securities - Summaries of Fair Values and Unrealized Losses of Securities, Segregated by Length of Impairment (Detail) $ in Thousands | Jun. 30, 2015USD ($)Security | Dec. 31, 2014USD ($)Security |
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 23 | 19 |
Number of available for sale securities, Greater than 1 year | Security | 28 | 28 |
Number of available for sale securities | Security | 51 | 47 |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 377,323 | $ 309,919 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (1,938) | (1,559) |
Securities Available For Sale, 12 Months or More, Fair Value | 300,467 | 332,215 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (8,757) | (10,362) |
Securities Available For Sale, Fair Value, Total | 677,790 | 642,134 |
Securities Available For Sale, Unrealized Losses, Total | $ (10,695) | $ (11,921) |
Number of held to maturity securities | Security | 83 | 36 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 341,503 | $ 131,586 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (4,646) | (675) |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 192,548 | 269,653 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | (6,093) | (7,567) |
Securities Held To Maturity, Fair Value, Total | 534,051 | 401,239 |
Securities Held To Maturity, Unrealized Losses, Total | $ (10,739) | $ (8,242) |
Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 67 | 12 |
Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 16 | 24 |
U.S. Government-Sponsored Entities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 5 | 7 |
Number of available for sale securities, Greater than 1 year | Security | 5 | 7 |
Number of available for sale securities | Security | 10 | 14 |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 84,445 | $ 89,986 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (571) | (275) |
Securities Available For Sale, 12 Months or More, Fair Value | 55,389 | 99,326 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (602) | (1,664) |
Securities Available For Sale, Fair Value, Total | 139,834 | 189,312 |
Securities Available For Sale, Unrealized Losses, Total | $ (1,173) | $ (1,939) |
Number of held to maturity securities | Security | 4 | 4 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 44,772 | $ 24,989 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (227) | (40) |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 14,849 | 29,516 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | (152) | (484) |
Securities Held To Maturity, Fair Value, Total | 59,621 | 54,505 |
Securities Held To Maturity, Unrealized Losses, Total | $ (379) | $ (524) |
U.S. Government-Sponsored Entities [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 3 | 2 |
U.S. Government-Sponsored Entities [Member] | Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 1 | 2 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 11 | 2 |
Number of available for sale securities | Security | 11 | 2 |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 186,261 | $ 45,145 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (801) | (35) |
Securities Available For Sale, Fair Value, Total | 186,261 | 45,145 |
Securities Available For Sale, Unrealized Losses, Total | $ (801) | $ (35) |
Number of held to maturity securities | Security | 11 | 5 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 115,966 | $ 1,099 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (974) | (1) |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 1,127 | 45,042 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | (32) | (345) |
Securities Held To Maturity, Fair Value, Total | 117,093 | 46,141 |
Securities Held To Maturity, Unrealized Losses, Total | $ (1,006) | $ (346) |
Agency Mortgage-Backed Securities [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 10 | 1 |
Agency Mortgage-Backed Securities [Member] | Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 1 | 4 |
Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 6 | 9 |
Number of available for sale securities, Greater than 1 year | Security | 18 | 16 |
Number of available for sale securities | Security | 24 | 25 |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 104,538 | $ 166,908 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (563) | (1,238) |
Securities Available For Sale, 12 Months or More, Fair Value | 237,775 | 225,700 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (7,376) | (7,809) |
Securities Available For Sale, Fair Value, Total | 342,313 | 392,608 |
Securities Available For Sale, Unrealized Losses, Total | $ (7,939) | $ (9,047) |
Number of held to maturity securities | Security | 21 | 22 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 95,239 | $ 104,071 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (884) | (630) |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 176,572 | 189,642 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | (5,909) | (6,699) |
Securities Held To Maturity, Fair Value, Total | 271,811 | 293,713 |
Securities Held To Maturity, Unrealized Losses, Total | $ (6,793) | $ (7,329) |
Agency Collateralized Mortgage Obligations [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 7 | 8 |
Agency Collateralized Mortgage Obligations [Member] | Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 14 | 14 |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 1 | |
Number of available for sale securities | Security | 1 | |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 7,880 | |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (11) | |
Securities Available For Sale, Fair Value, Total | 7,880 | |
Securities Available For Sale, Unrealized Losses, Total | $ (11) | |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 1 | |
Number of available for sale securities, Greater than 1 year | Security | 1 | 1 |
Number of available for sale securities | Security | 2 | 1 |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 2,079 | |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (3) | |
Securities Available For Sale, 12 Months or More, Fair Value | 1,153 | $ 1,159 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (37) | (32) |
Securities Available For Sale, Fair Value, Total | 3,232 | 1,159 |
Securities Available For Sale, Unrealized Losses, Total | $ (40) | $ (32) |
Number of held to maturity securities | Security | 45 | 5 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 83,795 | $ 1,427 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (2,558) | (4) |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 5,453 | |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | (39) | |
Securities Held To Maturity, Fair Value, Total | 83,795 | 6,880 |
Securities Held To Maturity, Unrealized Losses, Total | $ (2,558) | $ (43) |
States of the U.S. and Political Subdivisions [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 45 | 1 |
States of the U.S. and Political Subdivisions [Member] | Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 4 | |
Other Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Greater than 1 year | Security | 4 | 4 |
Number of available for sale securities | Security | 4 | 4 |
Securities Available For Sale, 12 Months or More, Fair Value | $ 6,150 | $ 6,030 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (742) | (857) |
Securities Available For Sale, Fair Value, Total | 6,150 | 6,030 |
Securities Available For Sale, Unrealized Losses, Total | $ (742) | $ (857) |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 2 | |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 1,731 | |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (3) | |
Securities Held To Maturity, Fair Value, Total | 1,731 | |
Securities Held To Maturity, Unrealized Losses, Total | $ (3) | |
Non-Agency Collateralized Mortgage Obligations [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 2 |
Securities - Summary of Cumulat
Securities - Summary of Cumulative Credit-Related OTTI Charges (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||
Beginning balance | $ 27 | $ 17,182 |
Loss where impairment was not previously recognized | 0 | 0 |
Additional loss where impairment was previously recognized | 0 | 0 |
Reduction due to credit impaired securities sold | (17,155) | |
Ending balance | 27 | 27 |
Collateralized Debt Obligations [Member] | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||
Beginning balance | 17,155 | |
Loss where impairment was not previously recognized | 0 | 0 |
Additional loss where impairment was previously recognized | 0 | 0 |
Reduction due to credit impaired securities sold | (17,155) | |
Equity Securities [Member] | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||
Beginning balance | 27 | 27 |
Loss where impairment was not previously recognized | 0 | 0 |
Additional loss where impairment was previously recognized | 0 | 0 |
Ending balance | $ 27 | $ 27 |
Federal Home Loan Bank Stock -
Federal Home Loan Bank Stock - Additional Information (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Federal Home Loan Bank stock | $ 58,047 | $ 54,751 |
Loans and Leases - Summary of L
Loans and Leases - Summary of Loans and Leases, Net of Unearned Income (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | $ 11,626,787 | $ 11,247,038 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 3,852,607 | 3,815,708 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 2,453,868 | 2,318,015 |
Commercial Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 190,881 | 177,824 |
Total Commercial Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 6,497,356 | 6,311,547 |
Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,676,349 | 1,644,621 |
Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,350,502 | 1,263,053 |
Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 942,801 | 875,551 |
Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,118,970 | 1,110,976 |
Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 40,809 | 41,290 |
Originated Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 10,244,577 | 9,666,145 |
Originated Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 3,178,219 | 3,031,810 |
Originated Loans [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 2,343,213 | 2,197,793 |
Originated Loans [Member] | Commercial Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 190,881 | 177,824 |
Originated Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 5,712,313 | 5,407,427 |
Originated Loans [Member] | Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,623,290 | 1,579,770 |
Originated Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 953,840 | 817,586 |
Originated Loans [Member] | Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 941,851 | 873,645 |
Originated Loans [Member] | Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 972,474 | 946,427 |
Originated Loans [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 40,809 | 41,290 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,382,210 | 1,580,893 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 674,388 | 783,898 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 110,655 | 120,222 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 785,043 | 904,120 |
Acquired Loans [Member] | Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 53,059 | 64,851 |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 396,662 | 445,467 |
Acquired Loans [Member] | Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 950 | 1,906 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | $ 146,496 | $ 164,549 |
Loans and Leases - Additional I
Loans and Leases - Additional Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial construction loans | $ 243,382 | $ 296,156 | |
Carrying amount | $ 11,626,787 | 11,247,038 | |
Sustained period of delinquency for impairment evaluation | 90 days | 90 days | |
Minimum reserves for commercial loan | $ 500 | ||
Minimum amount to allocate specific valuation allowance | 500 | ||
Allowance for loan losses | 6,945 | 7,974 | |
Restructured loans returned to performing status | 3,831 | ||
Valuation for impairment of loans with pooled reserves | 500 | 500 | |
Pooled reserves for all other classes of loans | 4,936 | 3,448 | |
Consumer Lines of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Consumer loans | 178,455 | 180,588 | |
Carrying amount | 1,118,970 | 1,110,976 | |
Allowance for loan losses | 286 | 267 | |
Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying amount | 2,453,868 | 2,318,015 | |
Allowance for loan losses | 607 | 1,484 | |
Direct Installment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying amount | 1,676,349 | 1,644,621 | |
Allowance for loan losses | 1,562 | 1,847 | |
Residential Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying amount | 1,350,502 | 1,263,053 | |
Allowance for loan losses | 752 | 858 | |
Indirect Installment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying amount | 942,801 | 875,551 | |
Allowance for loan losses | $ 284 | $ 232 | |
Loans and Leases Receivable Net of Deferred Income [Member] | Consumer Lines of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of portfolio | 1.50% | 1.60% | |
Purchased Credit-Impaired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying amount | $ 8,808 | $ 9,556 | |
Purchased Credit-Impaired Loans [Member] | Acquired Loans Receivable [Member] | Credit Concentration Risk [Member] | Maximum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of portfolio | 1.00% | ||
Specific reserves for commercial TDRs [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Reserves in allowance for loan losses, TDRs | $ 510 | 371 | |
Pooled reserves for commercial TDRs [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Reserves in allowance for loan losses, TDRs | 1,086 | 1,215 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | $ 3,454 | $ 3,286 | |
Commercial Real Estate [Member] | Owner-Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of portfolio | 40.40% | 41.60% | |
Commercial Real Estate [Member] | Non-Owner-Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of portfolio | 59.60% | 58.40% | |
Commercial Real Estate [Member] | Loans and Leases Receivable Net of Deferred Income [Member] | Construction Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of portfolio | 2.10% | 2.60% | |
Residential Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Threshold period past due for default non-accrual status of trade accounts receivable | 180 days | ||
Carrying value of OREO through foreclosure | $ 5,138 | ||
Mortgage loans on real estate, foreclosure | $ 13,154 | ||
Commercial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Threshold period past due for default non-accrual status of trade accounts receivable | 90 days | ||
Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Threshold period past due for default non-accrual status of trade accounts receivable | 120 days |
Loans and Leases - Summary of O
Loans and Leases - Summary of Outstanding Principal Balance and Carrying Amount of Acquired Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount | $ 11,626,787 | $ 11,247,038 |
Accounted for under ASC 310-30 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 1,423,534 | 1,597,558 |
Carrying amount | 1,169,717 | 1,344,171 |
Accounted for under ASC 310-20 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 219,358 | 242,488 |
Carrying amount | 205,548 | 228,748 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 1,642,892 | 1,840,046 |
Carrying amount | $ 1,375,265 | $ 1,572,919 |
Loans and Leases - Summary of C
Loans and Leases - Summary of Change in Accretable Yield of Acquired Loans (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period [Abstract] | ||
Balance at beginning of period | $ 331,899 | $ 305,646 |
Reduction due to unexpected early payoffs | (25,735) | (18,821) |
Reclass from non-accretable difference | 15,653 | 2,605 |
Disposals/transfers | (348) | (2,130) |
Accretion | (31,656) | (28,275) |
Balance at end of period | $ 289,813 | $ 259,025 |
Loans and Leases - Summary of N
Loans and Leases - Summary of Non-Performing Assets (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled debt restructurings | $ 42,991 | $ 41,152 |
Non-Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 45,396 | 45,113 |
Troubled debt restructurings | 22,916 | 23,439 |
Total non-performing loans | 68,312 | 68,552 |
Other real estate owned (OREO) | 40,190 | 41,466 |
Total non-performing assets | $ 108,502 | $ 110,018 |
Non-performing loans as a percent of total loans and leases | 0.59% | 0.61% |
Non-performing loans + OREO as a percent of total loans and leases + OREO | 0.93% | 0.97% |
Non-performing assets as a percent of total assets | 0.65% | 0.68% |
Loans and Leases - Age Analysis
Loans and Leases - Age Analysis of Past Due Loans, by Class (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 11,626,787 | $ 11,247,038 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 3,852,607 | 3,815,708 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 2,453,868 | 2,318,015 |
Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 190,881 | 177,824 |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 6,497,356 | 6,311,547 |
Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,676,349 | 1,644,621 |
Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,350,502 | 1,263,053 |
Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 942,801 | 875,551 |
Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,118,970 | 1,110,976 |
Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 40,809 | 41,290 |
Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 36,581 | 41,275 |
> 90 Days Past Due and Still Accruing | 5,917 | 9,248 |
Non-Accrual | 45,332 | 45,113 |
Total Past Due | 87,830 | 95,636 |
Current | 10,156,747 | 9,570,509 |
Total Loans | 10,244,577 | 9,666,145 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 6,054 | 9,601 |
> 90 Days Past Due and Still Accruing | 3 | 313 |
Non-Accrual | 24,652 | 24,132 |
Total Past Due | 30,709 | 34,046 |
Current | 3,147,510 | 2,997,764 |
Total Loans | 3,178,219 | 3,031,810 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 2,800 | 2,446 |
> 90 Days Past Due and Still Accruing | 3 | 3 |
Non-Accrual | 8,966 | 8,310 |
Total Past Due | 11,769 | 10,759 |
Current | 2,331,444 | 2,187,034 |
Total Loans | 2,343,213 | 2,197,793 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 818 | 961 |
> 90 Days Past Due and Still Accruing | 43 | |
Non-Accrual | 699 | 722 |
Total Past Due | 1,517 | 1,726 |
Current | 189,364 | 176,098 |
Total Loans | 190,881 | 177,824 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 9,672 | 13,008 |
> 90 Days Past Due and Still Accruing | 6 | 359 |
Non-Accrual | 34,317 | 33,164 |
Total Past Due | 43,995 | 46,531 |
Current | 5,668,318 | 5,360,896 |
Total Loans | 5,712,313 | 5,407,427 |
Originated Loans and Leases [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 9,414 | 9,333 |
> 90 Days Past Due and Still Accruing | 2,969 | 3,617 |
Non-Accrual | 5,656 | 7,117 |
Total Past Due | 18,039 | 20,067 |
Current | 1,605,251 | 1,559,703 |
Total Loans | 1,623,290 | 1,579,770 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 8,198 | 8,709 |
> 90 Days Past Due and Still Accruing | 1,536 | 3,891 |
Non-Accrual | 3,767 | 2,964 |
Total Past Due | 13,501 | 15,564 |
Current | 940,339 | 802,022 |
Total Loans | 953,840 | 817,586 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 7,040 | 7,804 |
> 90 Days Past Due and Still Accruing | 358 | 684 |
Non-Accrual | 898 | 1,149 |
Total Past Due | 8,296 | 9,637 |
Current | 933,555 | 864,008 |
Total Loans | 941,851 | 873,645 |
Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 2,192 | 2,408 |
> 90 Days Past Due and Still Accruing | 975 | 562 |
Non-Accrual | 694 | 719 |
Total Past Due | 3,861 | 3,689 |
Current | 968,613 | 942,738 |
Total Loans | 972,474 | 946,427 |
Originated Loans and Leases [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 65 | 13 |
> 90 Days Past Due and Still Accruing | 73 | 135 |
Total Past Due | 138 | 148 |
Current | 40,671 | 41,142 |
Total Loans | 40,809 | 41,290 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 20,838 | 24,678 |
> 90 Days Past Due and Still Accruing | 30,090 | 38,024 |
Non-Accrual | 64 | |
Total Past Due | 50,992 | 62,702 |
Current | 1,419,034 | 1,612,959 |
Discount | (87,816) | (94,768) |
Total Loans | 1,382,210 | 1,580,893 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 10,618 | 12,076 |
> 90 Days Past Due and Still Accruing | 11,098 | 12,368 |
Total Past Due | 21,716 | 24,444 |
Current | 691,401 | 799,991 |
Discount | (38,729) | (40,537) |
Total Loans | 674,388 | 783,898 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 528 | 687 |
> 90 Days Past Due and Still Accruing | 756 | 1,968 |
Non-Accrual | 64 | |
Total Past Due | 1,348 | 2,655 |
Current | 117,132 | 127,535 |
Discount | (7,825) | (9,968) |
Total Loans | 110,655 | 120,222 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 11,146 | 12,763 |
> 90 Days Past Due and Still Accruing | 11,854 | 14,336 |
Non-Accrual | 64 | |
Total Past Due | 23,064 | 27,099 |
Current | 808,533 | 927,526 |
Discount | (46,554) | (50,505) |
Total Loans | 785,043 | 904,120 |
Acquired Loans [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 1,108 | 2,670 |
> 90 Days Past Due and Still Accruing | 1,057 | 1,443 |
Total Past Due | 2,165 | 4,113 |
Current | 49,963 | 59,532 |
Discount | 931 | 1,206 |
Total Loans | 53,059 | 64,851 |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 7,909 | 8,159 |
> 90 Days Past Due and Still Accruing | 15,688 | 19,936 |
Total Past Due | 23,597 | 28,095 |
Current | 410,919 | 456,810 |
Discount | (37,854) | (39,438) |
Total Loans | 396,662 | 445,467 |
Acquired Loans [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 21 | 38 |
> 90 Days Past Due and Still Accruing | 17 | 30 |
Total Past Due | 38 | 68 |
Current | 1,149 | 2,179 |
Discount | (237) | (341) |
Total Loans | 950 | 1,906 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 654 | 1,048 |
> 90 Days Past Due and Still Accruing | 1,474 | 2,279 |
Total Past Due | 2,128 | 3,327 |
Current | 148,470 | 166,912 |
Discount | (4,102) | (5,690) |
Total Loans | $ 146,496 | $ 164,549 |
Loans and Leases - Summary of58
Loans and Leases - Summary of Commercial Loans and Leases by Credit Quality (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | $ 5,712,313 | $ 5,407,427 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,178,219 | 3,031,810 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,343,213 | 2,197,793 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 190,881 | 177,824 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 785,043 | 904,120 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 674,388 | 783,898 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 110,655 | 120,222 |
Pass [Member] | Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 5,489,014 | 5,151,400 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,056,070 | 2,890,830 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,244,956 | 2,085,893 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 187,988 | 174,677 |
Pass [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 630,245 | 714,122 |
Pass [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 533,067 | 610,260 |
Pass [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 97,178 | 103,862 |
Special Mention [Member] | Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 122,442 | 132,248 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 59,893 | 58,630 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 60,547 | 71,420 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,002 | 2,198 |
Special Mention [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 65,671 | 77,397 |
Special Mention [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 61,595 | 73,891 |
Special Mention [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,076 | 3,506 |
Substandard [Member] | Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 98,632 | 122,584 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 61,601 | 81,951 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 36,140 | 39,684 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 891 | 949 |
Substandard [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 89,127 | 112,601 |
Substandard [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 79,726 | 99,747 |
Substandard [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 9,401 | 12,854 |
Doubtful [Member] | Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,225 | 1,195 |
Doubtful [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 655 | 399 |
Doubtful [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | $ 1,570 | $ 796 |
Loans and Leases - Summary of59
Loans and Leases - Summary of Consumer Loans by Payment Status (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Credit Quality [Line Items] | ||
Total Loans | $ 11,626,787 | $ 11,247,038 |
Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 68,312 | 68,552 |
Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,676,349 | 1,644,621 |
Direct Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 1,608,934 | 1,565,090 |
Direct Installment [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 14,356 | 14,680 |
Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,350,502 | 1,263,053 |
Residential Mortgages [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 939,368 | 802,522 |
Residential Mortgages [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 14,472 | 15,064 |
Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 942,801 | 875,551 |
Indirect Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 940,799 | 872,340 |
Indirect Installment [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 1,052 | 1,305 |
Consumer Lines of Credit [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 970,554 | 944,631 |
Consumer Lines of Credit [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 1,920 | 1,796 |
Other [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 40,809 | 41,290 |
Other [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 40,809 | 41,290 |
Originated Loans [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 10,244,577 | 9,666,145 |
Originated Loans [Member] | Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,623,290 | 1,579,770 |
Originated Loans [Member] | Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 953,840 | 817,586 |
Originated Loans [Member] | Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 941,851 | 873,645 |
Originated Loans [Member] | Consumer Lines of Credit [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 972,474 | 946,427 |
Originated Loans [Member] | Other [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | $ 40,809 | $ 41,290 |
Loans and Leases - Summary of I
Loans and Leases - Summary of Impaired Loans, by Class (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | $ 80,832 | $ 81,765 |
Recorded Investment With No Specific Reserve | 65,577 | 66,619 |
Recorded Investment With Specific Reserve | 2,731 | 2,831 |
Total Recorded Investment | 68,308 | 69,450 |
Specific Reserve | 2,225 | 1,179 |
Average Recorded Investment | 69,081 | 75,367 |
Commercial Real Estate [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 35,137 | 34,583 |
Recorded Investment With No Specific Reserve | 25,753 | 25,443 |
Recorded Investment With Specific Reserve | 822 | 883 |
Total Recorded Investment | 26,575 | 26,326 |
Specific Reserve | 655 | 399 |
Average Recorded Investment | 26,301 | 30,807 |
Commercial and Industrial [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 10,130 | 11,412 |
Recorded Investment With No Specific Reserve | 7,325 | 7,609 |
Recorded Investment With Specific Reserve | 1,909 | 1,948 |
Total Recorded Investment | 9,234 | 9,557 |
Specific Reserve | 1,570 | 780 |
Average Recorded Investment | 9,650 | 9,510 |
Commercial Leases [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 699 | 722 |
Recorded Investment With No Specific Reserve | 699 | 722 |
Total Recorded Investment | 699 | 722 |
Average Recorded Investment | 716 | 686 |
Total Commercial Loans and Leases [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 45,966 | 46,717 |
Recorded Investment With No Specific Reserve | 33,777 | 33,774 |
Recorded Investment With Specific Reserve | 2,731 | 2,831 |
Total Recorded Investment | 36,508 | 36,605 |
Specific Reserve | 2,225 | 1,179 |
Average Recorded Investment | 36,667 | 41,003 |
Direct Installment [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 15,043 | 14,987 |
Recorded Investment With No Specific Reserve | 14,356 | 14,680 |
Total Recorded Investment | 14,356 | 14,680 |
Average Recorded Investment | 14,322 | 14,248 |
Residential Mortgages [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 14,962 | 16,791 |
Recorded Investment With No Specific Reserve | 14,472 | 15,064 |
Total Recorded Investment | 14,472 | 15,064 |
Average Recorded Investment | 15,076 | 16,924 |
Indirect Installment [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 2,782 | 1,467 |
Recorded Investment With No Specific Reserve | 1,052 | 1,305 |
Total Recorded Investment | 1,052 | 1,305 |
Average Recorded Investment | 1,208 | 1,399 |
Consumer Lines of Credit [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 2,079 | 1,803 |
Recorded Investment With No Specific Reserve | 1,920 | 1,796 |
Total Recorded Investment | 1,920 | 1,796 |
Average Recorded Investment | $ 1,808 | $ 1,793 |
Loans and Leases - Summary of P
Loans and Leases - Summary of Payment Status of Total TDRs (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | $ 42,991 | $ 41,152 |
Performing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 11,669 | 9,441 |
Non-Performing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 22,916 | 23,439 |
Non-Accrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | $ 8,406 | $ 8,272 |
Loans and Leases - Summary of T
Loans and Leases - Summary of Troubled Debt Restructurings by Class of Loans (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015USD ($)Contract | Jun. 30, 2014USD ($)Contract | Jun. 30, 2015USD ($)Contract | Jun. 30, 2014USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 137 | 183 | 305 | 334 |
Pre-Modification Outstanding Recorded Investment | $ 2,261 | $ 6,024 | $ 4,989 | $ 8,547 |
Post-Modification Outstanding Recorded Investment | $ 2,229 | $ 5,953 | $ 4,776 | $ 8,383 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 8 | 2 | 9 | |
Pre-Modification Outstanding Recorded Investment | $ 2,508 | $ 312 | $ 2,581 | |
Post-Modification Outstanding Recorded Investment | $ 2,496 | $ 176 | $ 2,553 | |
Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 1 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 5 | $ 5 | $ 188 | |
Post-Modification Outstanding Recorded Investment | $ 4 | $ 4 | $ 188 | |
Total Commercial Loans and Leases [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 8 | 3 | 10 |
Pre-Modification Outstanding Recorded Investment | $ 5 | $ 2,508 | $ 317 | $ 2,769 |
Post-Modification Outstanding Recorded Investment | $ 4 | $ 2,496 | $ 180 | $ 2,741 |
Direct Installment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 110 | 136 | 241 | 262 |
Pre-Modification Outstanding Recorded Investment | $ 1,761 | $ 1,873 | $ 3,310 | $ 3,573 |
Post-Modification Outstanding Recorded Investment | $ 1,729 | $ 1,843 | $ 3,201 | $ 3,479 |
Residential Mortgages [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 7 | 15 | 21 | 24 |
Pre-Modification Outstanding Recorded Investment | $ 231 | $ 1,070 | $ 812 | $ 1,359 |
Post-Modification Outstanding Recorded Investment | $ 234 | $ 1,045 | $ 846 | $ 1,324 |
Indirect Installment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 5 | 6 | 10 | 13 |
Pre-Modification Outstanding Recorded Investment | $ 14 | $ 18 | $ 30 | $ 34 |
Post-Modification Outstanding Recorded Investment | $ 13 | $ 16 | $ 30 | $ 32 |
Consumer Lines of Credit [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 14 | 18 | 30 | 25 |
Pre-Modification Outstanding Recorded Investment | $ 250 | $ 555 | $ 520 | $ 812 |
Post-Modification Outstanding Recorded Investment | $ 249 | $ 553 | $ 519 | $ 807 |
Loans and Leases - Summary of63
Loans and Leases - Summary of Troubled Debt Restructurings by Class of Loans and Leases, Payment Default (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015USD ($)Contract | Jun. 30, 2014USD ($)Contract | Jun. 30, 2015USD ($)Contract | Jun. 30, 2014USD ($)Contract | ||
Financing Receivable, Modifications [Line Items] | |||||
Number of Contracts | Contract | 34 | 34 | 69 | 48 | |
Recorded Investment | [1] | $ 446 | $ 240 | $ 681 | $ 392 |
Commercial and Industrial [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of Contracts | Contract | 1 | 1 | |||
Recorded Investment | [1] | $ 229 | $ 229 | ||
Total Commercial Loans and Leases [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of Contracts | Contract | 1 | 1 | |||
Recorded Investment | [1] | $ 229 | $ 229 | ||
Direct Installment [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of Contracts | Contract | 27 | 33 | 58 | 47 | |
Recorded Investment | [1] | $ 96 | $ 240 | $ 182 | $ 392 |
Residential Mortgages [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of Contracts | Contract | 3 | 4 | |||
Recorded Investment | [1] | $ 114 | $ 171 | ||
Indirect Installment [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of Contracts | Contract | 3 | 1 | 5 | 1 | |
Recorded Investment | [1] | $ 7 | $ 7 | ||
Consumer Lines of Credit [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of Contracts | Contract | 1 | ||||
Recorded Investment | [1] | $ 92 | |||
[1] | The recorded investment is as of period end. |
Allowance for Credit Losses - A
Allowance for Credit Losses - Additional Information (Detail) $ in Thousands | Jun. 30, 2015USD ($) |
Receivables [Abstract] | |
Minimum reserves for commercial loan | $ 500 |
Allowance for Credit Losses - S
Allowance for Credit Losses - Summary of Changes in Allowance for Credit Losses by Loan and Lease Class (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | $ 128,499 | $ 112,219 | $ 125,926 | $ 110,784 |
Charge- Offs | (8,188) | (7,698) | (15,076) | (14,801) |
Recoveries | 1,966 | 1,822 | 3,291 | 3,354 |
Net Charge- Offs | (6,222) | (5,876) | (11,785) | (11,447) |
Provision for credit losses | 8,864 | 10,405 | 17,000 | 17,411 |
Balance at End of Period | 131,141 | 116,748 | 131,141 | 116,748 |
Originated Loans [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 121,247 | 107,123 | 117,952 | 104,884 |
Charge- Offs | (7,720) | (5,919) | (14,467) | (12,782) |
Recoveries | 1,925 | 1,084 | 2,901 | 2,330 |
Net Charge- Offs | (5,795) | (4,835) | (11,566) | (10,452) |
Provision for credit losses | 8,744 | 8,900 | 17,810 | 16,756 |
Balance at End of Period | 124,196 | 111,188 | 124,196 | 111,188 |
Acquired Loans [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 7,252 | 5,096 | 7,974 | 5,900 |
Charge- Offs | (468) | (1,779) | (609) | (2,019) |
Recoveries | 41 | 738 | 390 | 1,024 |
Net Charge- Offs | (427) | (1,041) | (219) | (995) |
Provision for credit losses | 120 | 1,505 | (810) | 655 |
Balance at End of Period | 6,945 | 5,560 | 6,945 | 5,560 |
Commercial Real Estate [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 38,792 | 38,534 | 37,588 | 32,548 |
Charge- Offs | (977) | (1,572) | (1,978) | (3,795) |
Recoveries | 200 | 263 | 409 | 562 |
Net Charge- Offs | (777) | (1,309) | (1,569) | (3,233) |
Provision for credit losses | 1,857 | 1,253 | 3,853 | 9,163 |
Balance at End of Period | 39,872 | 38,478 | 39,872 | 38,478 |
Commercial and Industrial [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 32,803 | 29,971 | 32,645 | 32,603 |
Charge- Offs | (1,416) | (540) | (2,100) | (1,053) |
Recoveries | 976 | 168 | 1,096 | 538 |
Net Charge- Offs | (440) | (372) | (1,004) | (515) |
Provision for credit losses | (58) | 3,418 | 664 | 929 |
Balance at End of Period | 32,305 | 33,017 | 32,305 | 33,017 |
Commercial Leases [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 2,576 | 1,944 | 2,398 | 1,903 |
Charge- Offs | (111) | (63) | (204) | (150) |
Recoveries | 35 | 53 | 45 | 82 |
Net Charge- Offs | (76) | (10) | (159) | (68) |
Provision for credit losses | (277) | 145 | (16) | 244 |
Balance at End of Period | 2,223 | 2,079 | 2,223 | 2,079 |
Total Commercial Loans and Leases [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 74,171 | 70,449 | 72,631 | 67,054 |
Charge- Offs | (2,504) | (2,175) | (4,282) | (4,998) |
Recoveries | 1,211 | 484 | 1,550 | 1,182 |
Net Charge- Offs | (1,293) | (1,691) | (2,732) | (3,816) |
Provision for credit losses | 1,522 | 4,816 | 4,501 | 10,336 |
Balance at End of Period | 74,400 | 73,574 | 74,400 | 73,574 |
Direct Installment [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 21,204 | 16,630 | 20,538 | 17,824 |
Charge- Offs | (2,953) | (2,264) | (5,386) | (4,785) |
Recoveries | 297 | 283 | 566 | 550 |
Net Charge- Offs | (2,656) | (1,981) | (4,820) | (4,235) |
Provision for credit losses | 3,731 | 2,195 | 6,561 | 3,255 |
Balance at End of Period | 22,279 | 16,844 | 22,279 | 16,844 |
Residential Mortgages [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 8,471 | 5,307 | 8,024 | 5,836 |
Charge- Offs | (112) | (137) | (623) | (269) |
Recoveries | 24 | 44 | 39 | 48 |
Net Charge- Offs | (88) | (93) | (584) | (221) |
Provision for credit losses | 196 | 292 | 1,139 | (109) |
Balance at End of Period | 8,579 | 5,506 | 8,579 | 5,506 |
Indirect Installment [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 7,657 | 6,500 | 7,504 | 6,409 |
Charge- Offs | (1,503) | (696) | (2,783) | (1,498) |
Recoveries | 332 | 230 | 634 | 447 |
Net Charge- Offs | (1,171) | (466) | (2,149) | (1,051) |
Provision for credit losses | 2,423 | 659 | 3,554 | 1,335 |
Balance at End of Period | 8,909 | 6,693 | 8,909 | 6,693 |
Consumer Lines of Credit [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 8,890 | 7,658 | 8,496 | 7,231 |
Charge- Offs | (323) | (340) | (733) | (663) |
Recoveries | 36 | 38 | 76 | 93 |
Net Charge- Offs | (287) | (302) | (657) | (570) |
Provision for credit losses | 515 | 308 | 1,279 | 1,003 |
Balance at End of Period | 9,118 | 7,664 | 9,118 | 7,664 |
Other [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 854 | 579 | 759 | 530 |
Charge- Offs | (325) | (307) | (660) | (569) |
Recoveries | 25 | 5 | 36 | 10 |
Net Charge- Offs | (300) | (302) | (624) | (559) |
Provision for credit losses | 357 | 630 | 776 | 936 |
Balance at End of Period | 911 | 907 | 911 | 907 |
Purchased Credit-Impaired Loans [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 621 | 708 | 660 | 1,000 |
Charge- Offs | (1,653) | (64) | (1,902) | |
Recoveries | 19 | |||
Net Charge- Offs | (1,653) | (45) | (1,902) | |
Provision for credit losses | 37 | 1,393 | 43 | 1,350 |
Balance at End of Period | 658 | 448 | 658 | 448 |
Other Acquired Loans [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 6,631 | 4,388 | 7,314 | 4,900 |
Charge- Offs | (468) | (126) | (545) | (117) |
Recoveries | 41 | 738 | 371 | 1,024 |
Net Charge- Offs | (427) | 612 | (174) | 907 |
Provision for credit losses | 83 | 112 | (853) | (695) |
Balance at End of Period | $ 6,287 | $ 5,112 | $ 6,287 | $ 5,112 |
Allowance for Credit Losses -66
Allowance for Credit Losses - Summary of Individual and Collective Allowance for Credit Losses and Loan and Lease Balances by Class (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Valuation Allowance [Line Items] | ||
Allowance, Individually Evaluated for Impairment | $ 2,225 | $ 1,179 |
Allowance, Collectively Evaluated for Impairment | 121,971 | 116,773 |
Loans and Leases | 11,626,787 | 11,247,038 |
Loans Outstanding, Individually Evaluated for Impairment | 19,298 | 19,789 |
Loans Outstanding, Collectively Evaluated for Impairment | 10,225,279 | 9,646,356 |
Commercial Real Estate [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Individually Evaluated for Impairment | 655 | 399 |
Allowance, Collectively Evaluated for Impairment | 39,217 | 37,189 |
Loans and Leases | 3,852,607 | 3,815,708 |
Loans Outstanding, Individually Evaluated for Impairment | 13,713 | 13,952 |
Loans Outstanding, Collectively Evaluated for Impairment | 3,164,506 | 3,017,858 |
Commercial and Industrial [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Individually Evaluated for Impairment | 1,570 | 780 |
Allowance, Collectively Evaluated for Impairment | 30,735 | 31,865 |
Loans and Leases | 2,453,868 | 2,318,015 |
Loans Outstanding, Individually Evaluated for Impairment | 5,585 | 5,837 |
Loans Outstanding, Collectively Evaluated for Impairment | 2,337,628 | 2,191,956 |
Commercial Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 2,223 | 2,398 |
Loans and Leases | 190,881 | 177,824 |
Loans Outstanding, Collectively Evaluated for Impairment | 190,881 | 177,824 |
Total Commercial Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Individually Evaluated for Impairment | 2,225 | 1,179 |
Allowance, Collectively Evaluated for Impairment | 72,175 | 71,452 |
Loans and Leases | 6,497,356 | 6,311,547 |
Loans Outstanding, Individually Evaluated for Impairment | 19,298 | 19,789 |
Loans Outstanding, Collectively Evaluated for Impairment | 5,693,015 | 5,387,638 |
Direct Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 22,279 | 20,538 |
Loans and Leases | 1,676,349 | 1,644,621 |
Loans Outstanding, Collectively Evaluated for Impairment | 1,623,290 | 1,579,770 |
Residential Mortgages [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 8,579 | 8,024 |
Loans and Leases | 1,350,502 | 1,263,053 |
Loans Outstanding, Collectively Evaluated for Impairment | 953,840 | 817,586 |
Indirect Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 8,909 | 7,504 |
Loans and Leases | 942,801 | 875,551 |
Loans Outstanding, Collectively Evaluated for Impairment | 941,851 | 873,645 |
Consumer Lines of Credit [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 9,118 | 8,496 |
Loans and Leases | 1,118,970 | 1,110,976 |
Loans Outstanding, Collectively Evaluated for Impairment | 972,474 | 946,427 |
Other [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 911 | 759 |
Loans and Leases | 40,809 | 41,290 |
Loans Outstanding, Collectively Evaluated for Impairment | 40,809 | 41,290 |
Originated Loans [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 10,244,577 | 9,666,145 |
Originated Loans [Member] | Commercial Real Estate [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 3,178,219 | 3,031,810 |
Originated Loans [Member] | Commercial and Industrial [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 2,343,213 | 2,197,793 |
Originated Loans [Member] | Commercial Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 190,881 | 177,824 |
Originated Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 5,712,313 | 5,407,427 |
Originated Loans [Member] | Direct Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 1,623,290 | 1,579,770 |
Originated Loans [Member] | Residential Mortgages [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 953,840 | 817,586 |
Originated Loans [Member] | Indirect Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 941,851 | 873,645 |
Originated Loans [Member] | Consumer Lines of Credit [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 972,474 | 946,427 |
Originated Loans [Member] | Other [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | $ 40,809 | $ 41,290 |
Borrowings - Summary of Short-T
Borrowings - Summary of Short-Term Borrowings (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Debt Disclosure [Abstract] | ||
Securities sold under repurchase agreements | $ 212,380 | $ 882,696 |
Federal Home Loan Bank advances | 840,000 | 820,000 |
Federal funds purchased | 330,000 | 210,000 |
Subordinated notes | 125,202 | 128,962 |
Short-term borrowings | $ 1,507,582 | $ 2,041,658 |
Borrowings - Summary of Long-Te
Borrowings - Summary of Long-Term Borrowings (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Debt Disclosure [Abstract] | ||
Federal Home Loan Bank advances | $ 400,017 | $ 400,042 |
Subordinated notes | 84,289 | 83,155 |
Junior subordinated debt | 58,272 | 58,246 |
Long-term debt | $ 542,578 | $ 541,443 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015USD ($)Trust | Dec. 31, 2014USD ($) | |
Debt Instrument [Line Items] | ||
Credit available with FHLB | $ 4,393,116 | |
Credit with FHLB used | $ 1,240,018 | |
Federal Home Loan Bank advances are scheduled to mature periodically through the year | 2,021 | |
Effective interest rates, minimum | 0.76% | 0.76% |
Effective interest rates, maximum | 4.19% | 4.19% |
Number of unconsolidated subsidiary trusts | Trust | 2 | |
Percent of the common equity of each Trust owned by the Corporation | 100.00% | |
Junior subordinated debt | $ 58,272 | $ 58,246 |
Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Debt Instrument [Line Items] | ||
Percentage of TPS moving from tier 1 capital to tier 2 capital for 2015 | 25.00% | |
Junior subordinated debt | $ 57,500 | |
Percentage of TPS moving from tier 1 capital to tier 2 capital for 2016 | 75.00% |
Borrowings - Junior Subordinate
Borrowings - Junior Subordinated Debt Trusts (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 58,272 | $ 58,246 |
Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 57,500 | |
Common Stock Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 1,779 | |
F.N.B. Statutory Trust II [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 22,165 | |
Stated Maturity Date | Jun. 15, 2036 | |
Interest Rate | 1.94% | |
Description of variable rate | Variable; 3-month LIBOR + 165 basis points (bps) | |
Basis points | 1.65% | |
F.N.B. Statutory Trust II [Member] | Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 21,500 | |
F.N.B. Statutory Trust II [Member] | Common Stock Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 665 | |
Omega Financial Capital Trust I [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 36,107 | |
Stated Maturity Date | Oct. 18, 2034 | |
Interest Rate | 2.47% | |
Description of variable rate | Variable; 3-month LIBOR + 219 bps | |
Basis points | 2.19% | |
Omega Financial Capital Trust I [Member] | Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 36,000 | |
Omega Financial Capital Trust I [Member] | Common Stock Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 1,114 |
Derivative and Hedging Activi71
Derivative and Hedging Activities - Schedule of Notional Amounts and Gross Fair Values of Derivative Assets and Derivative Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Derivatives, Fair Value [Line Items] | ||
Notional amount | $ 2,466,898 | $ 2,215,056 |
Fair value,asset | 43,049 | 45,898 |
Liability | 43,319 | 46,160 |
Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 200,000 | 200,000 |
Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,080,889 | 972,002 |
Credit Risk Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value,asset | 10 | |
Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability | 16 | |
Subject to Master Netting Arrangement [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,282,099 | 1,173,212 |
Fair value,asset | 2,375 | 2,296 |
Liability | 42,812 | 45,985 |
Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 200,000 | 200,000 |
Fair value,asset | 1,867 | 2,109 |
Liability | 1,869 | 2,330 |
Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,080,889 | 972,002 |
Fair value,asset | 491 | 140 |
Liability | 40,943 | 43,655 |
Subject to Master Netting Arrangement [Member] | Credit Risk Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,210 | 1,210 |
Fair value,asset | 17 | 47 |
Subject to Master Netting Arrangement [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value,asset | 17 | 47 |
Not Subject to Master Netting Arrangement [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,184,799 | 1,041,844 |
Fair value,asset | 40,674 | 43,602 |
Liability | 507 | 175 |
Not Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,080,889 | 972,002 |
Fair value,asset | 40,664 | 43,602 |
Liability | 377 | 128 |
Not Subject to Master Netting Arrangement [Member] | Credit Risk Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 102,700 | 68,632 |
Fair value,asset | 10 | |
Liability | 114 | |
Not Subject to Master Netting Arrangement [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,210 | 1,210 |
Liability | $ 16 | $ 47 |
Derivative and Hedging Activi72
Derivative and Hedging Activities - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Derivative [Line Items] | |||||
Notional amount | $ 2,466,898 | $ 2,466,898 | $ 2,215,056 | ||
Derivative assets | 43,049 | 43,049 | 45,898 | ||
Derivative liabilities | 43,319 | 43,319 | 46,160 | ||
Interest income | 123,767 | $ 114,192 | 245,688 | $ 222,017 | |
Amounts reclassified from AOCI | (1,058) | ||||
Additional amount in excess of posted collateral required in case of breached agreements | 1,974 | 1,974 | 1,862 | ||
Interest Rate Contracts [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | 200,000 | $ 200,000 | 200,000 | ||
Period to reclassification of cash flow hedge gain loss | 12 months | ||||
Maximum length of time hedged in interest rate cash flow hedge | 8 years | ||||
Derivative gains to be reclassified within twelve months | $ 2,817 | ||||
Derivative gains to be reclassified within twelve months, net of tax | 1,831 | ||||
Derivative gain or loses excluded from assessment of hedge effectiveness | 0 | ||||
Hedge ineffectiveness | 0 | 0 | |||
Gains or losses from cash flow hedge derivatives reclassified to earnings | 0 | $ 0 | |||
Interest Rate Contracts [Member] | Amount Reclassified from Other Comprehensive Income [Member] | |||||
Derivative [Line Items] | |||||
Interest income | 1,623 | ||||
Amounts reclassified from AOCI | 1,055 | ||||
Interest Rate Swap [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | 1,080,889 | 1,080,889 | 972,002 | ||
Credit Risk Contract Sold [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | 74,010 | $ 74,010 | |||
Risk participation agreements, minimum term | 2 years | ||||
Risk participation agreements, maximum term | 9 years | ||||
Maximum exposure under credit risk agreement assuming customer default | 114 | $ 114 | 25 | ||
Trading Assets [Member] | Interest Rate Swap [Member] | |||||
Derivative [Line Items] | |||||
Derivative assets | 41,155 | 41,155 | 43,742 | ||
Not for Trading Assets [Member] | Interest Rate Contracts [Member] | |||||
Derivative [Line Items] | |||||
Derivative assets | 1,867 | 1,867 | 2,109 | ||
Trading Liabilities [Member] | Interest Rate Swap [Member] | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 41,320 | 41,320 | 43,783 | ||
Not for Trading Liabilities [Member] | Interest Rate Contracts [Member] | |||||
Derivative [Line Items] | |||||
Derivative liabilities | $ 1,869 | $ 1,869 | $ 2,330 |
Derivative and Hedging Activi73
Derivative and Hedging Activities - Offsetting of Derivative Assets (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Derivatives, Fair Value [Line Items] | ||
Gross Amount | $ 43,049 | $ 45,898 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 43,049 | 45,898 |
Credit Risk Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 10 | |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | |
Net Amount Presented in the Balance Sheet | 10 | |
Subject to Master Netting Arrangement [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 2,375 | 2,296 |
Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 1,867 | 2,109 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 1,867 | 2,109 |
Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 491 | 140 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 491 | 140 |
Subject to Master Netting Arrangement [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 17 | 47 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 17 | 47 |
Subject to Master Netting Arrangement [Member] | Credit Risk Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 17 | 47 |
Not Subject to Master Netting Arrangement [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 40,674 | 43,602 |
Not Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 40,664 | 43,602 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 40,664 | $ 43,602 |
Not Subject to Master Netting Arrangement [Member] | Credit Risk Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 10 |
Derivative and Hedging Activi74
Derivative and Hedging Activities - Offsetting of Derivative Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Derivatives, Fair Value [Line Items] | ||
Gross Amount | $ 43,319 | $ 46,160 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 43,319 | 46,160 |
Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 16 | |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | |
Net Amount Presented in the Balance Sheet | 16 | |
Subject to Master Netting Arrangement [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 42,812 | 45,985 |
Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 1,869 | 2,330 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 1,869 | 2,330 |
Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 40,943 | 43,655 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 40,943 | 43,655 |
Not Subject to Master Netting Arrangement [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 507 | 175 |
Not Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 377 | 128 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 377 | 128 |
Not Subject to Master Netting Arrangement [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 47 | |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | |
Net Amount Presented in the Balance Sheet | 16 | $ 47 |
Not Subject to Master Netting Arrangement [Member] | Credit Risk Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 114 | |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | |
Net Amount Presented in the Balance Sheet | $ 114 |
Derivative and Hedging Activi75
Derivative and Hedging Activities - Derivative Assets (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 43,049 | $ 45,898 |
Subject to Master Netting Arrangement [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 2,375 | 2,296 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 641 | 995 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 1,734 | 1,301 |
Net Amount, Derivative Assets | 0 | 0 |
Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 1,867 | 2,109 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 519 | 810 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 1,348 | 1,299 |
Net Amount, Derivative Assets | 0 | 0 |
Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 491 | 140 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 105 | 138 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 386 | 2 |
Net Amount, Derivative Assets | 0 | 0 |
Subject to Master Netting Arrangement [Member] | Equity Contracts [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 17 | 47 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 17 | 47 |
Net Amount, Derivative Assets | $ 0 | $ 0 |
Derivative and Hedging Activi76
Derivative and Hedging Activities - Derivative Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 43,319 | $ 46,160 |
Subject to Master Netting Arrangement [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 42,812 | 45,985 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 26,662 | 30,976 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | 14,388 | 13,243 |
Net Amount, Derivative Liabilities | 1,762 | 1,766 |
Subject to Master Netting Arrangement [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 1,869 | 2,330 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 1,869 | 2,330 |
Subject to Master Netting Arrangement [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 40,943 | 43,655 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 24,793 | 28,646 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | 14,388 | 13,243 |
Net Amount, Derivative Liabilities | $ 1,762 | $ 1,766 |
Derivative and Hedging Activi77
Derivative and Hedging Activities - Effect of Corporation's Derivative Financial Instruments on Income Statement (Detail) - Other Income [Member] - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | $ (123) | $ 1 |
Credit Risk Contract [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | $ (105) |
Commitments, Credit Risk and 78
Commitments, Credit Risk and Contingencies - Summary of Off-Balance Sheet Credit Risk Information (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Commitments to Extend Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Extended credit and standby letters of credit | $ 3,921,382 | $ 3,665,481 |
Standby Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Extended credit and standby letters of credit | $ 108,436 | $ 121,186 |
Commitments, Credit Risk and 79
Commitments, Credit Risk and Contingencies - Additional Information (Detail) | Jun. 30, 2015 |
Commitments and Contingencies Disclosure [Abstract] | |
Percentage of Commitments to extend credit dependent upon the financial condition of the customers | 69.10% |
Stock Incentive Plans - Additio
Stock Incentive Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | ||||
Jun. 30, 2015 | Jun. 30, 2014 | Apr. 06, 2013 | Jan. 01, 2012 | Jun. 16, 2009 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Restricted stock awards issued | 401,510 | 357,341 | |||
Aggregate, weighted average grant date fair value | $ 5,284 | $ 4,871 | |||
Common stock shares available under incentive compensation plans | 2,077,572 | ||||
Unrecognized compensation expense | $ 8,141 | ||||
Stock options exercised | 82,810 | 134,687 | |||
Intrinsic value of outstanding and exercisable stock options | $ 2,255 | ||||
Common shares available for purchase under warrants | 651,042 | ||||
Parkvale Financial Corporation [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Warrant issued | 819,640 | ||||
Annapolis Bancorp, Inc. [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Warrant issued, exercise price | $ 3.30 | ||||
Warrant issued | 342,564 | ||||
Warrants converted to purchase common stock | 370,929 | ||||
Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based compensation expense related to restricted stock awards | $ 1,564 | $ 1,385 | |||
Tax benefit related to restricted stock awards | 548 | 485 | |||
Total fair value of awards vested | 5,770 | $ 8,641 | |||
Unrecognized compensation expense | 8,141 | ||||
Amount subject to accelerated vesting under Incentive Compensation Plan | $ 65 | ||||
Employee Stock Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Stock options exercised | 82,810 | 93,154 | |||
Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Common shares available for purchase under warrants | 1,302,083 | ||||
Warrant Expires In 2019 [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Warrant issued, exercise price | $ 11.52 | ||||
Warrant Expires In 2019 [Member] | Annapolis Bancorp, Inc. [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Warrant issued, exercise price | $ 3.57 | ||||
Service-Based Awards [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period of awards issued, years | 3 years | ||||
Unrecognized compensation expense | $ 5,165 | ||||
Performance-Based Awards [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period of awards issued, years | 3 years | ||||
Unrecognized compensation expense | $ 2,976 | ||||
Warrant Expires in 2018 [Member] | Parkvale Financial Corporation [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Warrant issued, exercise price | $ 5.81 | ||||
Market Based Restricted Stock Awards [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Restricted stock percentage of number of units issued | 100.00% |
Stock Incentive Plans - Summary
Stock Incentive Plans - Summary of Information Concerning Restricted Stock Awards (Detail) - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Awards, Unvested awards outstanding at beginning of period | 1,354,093 | 1,729,033 |
Awards, Granted | 401,510 | 357,341 |
Awards, Net adjustment due to performance | (46,956) | (87,512) |
Awards, Vested | (460,606) | (698,121) |
Awards, Forfeited | (2,774) | (32,909) |
Awards, Dividend reinvestment | 18,359 | 22,501 |
Awards, Unvested awards outstanding at end of period | 1,263,626 | 1,290,333 |
Weighted Average Grant Price, Unvested awards outstanding at beginning of period | $ 11.86 | $ 10.23 |
Weighted Average Grant Price, Granted | 13.16 | 13.63 |
Weighted Average Grant Price, Net adjustment due to performance | 10.25 | 11.41 |
Weighted Average Grant Price, Vested | 10.61 | 8.77 |
Weighted Average Grant Price, Forfeited | 17.24 | 10.99 |
Weighted Average Grant Price, Dividend reinvestment | 14.13 | 12.74 |
Weighted Average Grant Price, Unvested awards outstanding at end of period | $ 12.82 | $ 11.90 |
Stock Incentive Plans - Compone
Stock Incentive Plans - Components of Restricted Stock Awards (Detail) - USD ($) $ in Thousands | 6 Months Ended | |||
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested awards | 1,263,626 | 1,354,093 | 1,290,333 | 1,729,033 |
Unrecognized compensation expense | $ 8,141 | |||
Intrinsic value | $ 18,095 | |||
Weighted average remaining life (in years) | 2 years 3 months 4 days | |||
Service-Based Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested awards | 663,106 | |||
Unrecognized compensation expense | $ 5,165 | |||
Intrinsic value | $ 9,496 | |||
Weighted average remaining life (in years) | 2 years 3 months 22 days | |||
Performance-Based Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested awards | 600,520 | |||
Unrecognized compensation expense | $ 2,976 | |||
Intrinsic value | $ 8,599 | |||
Weighted average remaining life (in years) | 2 years 2 months 12 days |
Stock Incentive Plans - Summa83
Stock Incentive Plans - Summary of Information Concerning Stock Option Awards (Detail) - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Shares, Options outstanding at beginning of period | 568,834 | 533,524 |
Shares, Assumed from acquisitions | 304,785 | |
Shares, Exercised | (82,810) | (134,687) |
Shares, Forfeited | (2,182) | (52,262) |
Shares, Options outstanding and exercisable at end of period | 483,842 | 651,360 |
Weighted Average Exercise Price, Options outstanding at beginning of period | $ 8.86 | $ 11.50 |
Weighted Average Exercise Price, Assumed from acquisitions | 5.77 | |
Weighted Average Price per Share, Exercised | 5.57 | 6.24 |
Weighted Average Exercise Price, Forfeited | 4.34 | 25.03 |
Weighted Average Exercise Price, Options outstanding and exercisable at end of period | $ 9.44 | $ 8.82 |
Retirement Plans - Additional I
Retirement Plans - Additional Information (Detail) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015USD ($)RetirementPlans | Jun. 30, 2014USD ($) | Dec. 31, 2014 | Dec. 31, 2008 | |
Disclosure Retirement Plans [Abstract] | ||||
Number of supplemental non-qualified retirement plans sponsored by the Corporation | RetirementPlans | 2 | |||
Consecutive calendar years used to calculate BRP benefits | 5 years | |||
Term of employment for consideration of BRP | 10 years | |||
Annuity equivalent of contribution to defined contribution plan deducted from monthly benefit of basic retirement plan | 3.00% | |||
Percent of employer match | 100.00% | 100.00% | ||
Employee contribution percentage | 6.00% | 4.00% | ||
Additional automatic contribution increase, percentage | 3.00% | |||
Additional discretionary contribution, performance goals, percentage | 3.00% | 2.00% | ||
Contribution expense of the Corporation | $ 3,961 | $ 4,962 |
Retirement Plans - Net Periodic
Retirement Plans - Net Periodic Benefit Credit for Defined Benefit Plans (Detail) - Defined Benefit Plans [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 17 | $ 16 | $ 34 | $ 32 |
Interest cost | 1,477 | 1,596 | 2,954 | 3,192 |
Expected return on plan assets | (2,491) | (2,487) | (4,982) | (4,974) |
Amortization: | ||||
Unrecognized net transition asset | (5) | (10) | ||
Unrecognized prior service cost | 2 | 2 | 4 | 4 |
Unrecognized loss | 536 | 337 | 1,072 | 674 |
Net periodic pension credit | $ (459) | $ (541) | $ (918) | $ (1,082) |
Comprehensive Income - Componen
Comprehensive Income - Components of Comprehensive Income, Net of Related Tax (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Components Of Comprehensive Income [Abstract] | ||||
Net income | $ 40,131 | $ 34,831 | $ 80,474 | $ 69,355 |
Securities available for sale, Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(3,870), $2,935, $652 and $11,950 | (7,188) | 5,451 | 1,212 | 22,193 |
Securities available for sale, Reclassification adjustment for gains included in net income, net of tax expense of $5, $272, $2 and $3,583 | (9) | (504) | (3) | (6,654) |
Unrealized (losses) gains on derivative instruments arising during the period, net of tax(benefit) expense of $(860), $1,537, $645 and $2,939 | (1,597) | 2,855 | 1,196 | 5,458 |
Reclassification adjustment on derivative instruments for gains included in net income, net of tax expense of $285, $290, $568 and $575 | (529) | (538) | (1,055) | (1,067) |
Unrealized gains on pension and postretirement benefit obligations arising during the period, net of tax expense of $189, $117, $377 and $234 | 350 | 218 | 700 | 435 |
Other comprehensive (loss) income | (8,973) | 7,482 | 2,050 | 20,365 |
Comprehensive income | $ 31,158 | $ 42,313 | $ 82,524 | $ 89,720 |
Comprehensive Income - Compon87
Comprehensive Income - Components of Comprehensive Income, Net of Related Tax (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Components Of Comprehensive Income [Abstract] | ||||
Securities available for sale, Unrealized (losses) gains arising during the period, tax (benefit) expense | $ (3,870) | $ 2,935 | $ 652 | $ 11,950 |
Securities available for sale, Reclassification adjustment for gains included in net income, tax expense | 5 | 272 | 2 | 3,583 |
Unrealized (losses) gains on derivative instruments arising during the period, tax (benefit) expense | (860) | 1,537 | 645 | 2,939 |
Reclassification adjustment on derivative instruments for gains included in net income, tax expense | 285 | 290 | 568 | 575 |
Unrealized gains on pension and postretirement benefit obligations arising during the period, tax expense | $ 189 | $ 117 | $ 377 | $ 234 |
Comprehensive Income - Changes
Comprehensive Income - Changes in AOCI, Net of Tax, by Component (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income (loss), balance at beginning of period | $ (46,003) | |||
Other comprehensive income before reclassifications | 3,108 | |||
Amounts reclassified from AOCI | (1,058) | |||
Net current period other comprehensive income | $ (8,973) | $ 7,482 | 2,050 | $ 20,365 |
Accumulated other comprehensive income (loss), balance at end of period | (43,953) | (43,953) | ||
Unrealized Net Gains (Losses) on Securities Available for Sale [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income (loss), balance at beginning of period | (440) | |||
Other comprehensive income before reclassifications | 1,212 | |||
Amounts reclassified from AOCI | (3) | |||
Net current period other comprehensive income | 1,209 | |||
Accumulated other comprehensive income (loss), balance at end of period | 769 | 769 | ||
Unrealized Net Gains (Losses) on Derivative Instruments [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income (loss), balance at beginning of period | (143) | |||
Other comprehensive income before reclassifications | 1,196 | |||
Amounts reclassified from AOCI | (1,055) | |||
Net current period other comprehensive income | 141 | |||
Accumulated other comprehensive income (loss), balance at end of period | (2) | (2) | ||
Unrecognized Pension and Postretirement Obligations [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income (loss), balance at beginning of period | (45,420) | |||
Other comprehensive income before reclassifications | 700 | |||
Net current period other comprehensive income | 700 | |||
Accumulated other comprehensive income (loss), balance at end of period | $ (44,720) | $ (44,720) |
Earnings Per Common Share - Com
Earnings Per Common Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Earnings Per Share [Abstract] | ||||
Net income | $ 40,131 | $ 34,831 | $ 80,474 | $ 69,355 |
Less: Preferred stock dividends | 2,010 | 2,010 | 4,020 | 4,332 |
Net income available to common stockholders | $ 38,121 | $ 32,821 | $ 76,454 | $ 65,023 |
Basic weighted average common shares outstanding | 174,940,911 | 166,185,080 | 174,548,775 | 164,196,783 |
Net effect of dilutive stock options, warrants, restricted stock and convertible debt | 1,420,929 | 1,682,528 | 1,547,420 | 1,731,577 |
Diluted weighted average common shares outstanding | 176,361,840 | 167,867,608 | 176,096,195 | 165,928,360 |
Basic | $ 0.22 | $ 0.20 | $ 0.44 | $ 0.40 |
Diluted | $ 0.22 | $ 0.20 | $ 0.43 | $ 0.39 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Earnings Per Share [Abstract] | ||||
Common stock excluded from computation of diluted earnings per share | 17,918 | 30,649 | 20,984 | 41,023 |
Cash Flow Information - Summary
Cash Flow Information - Summary of Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Cash Flows [Abstract] | ||
Interest paid on deposits and other borrowings | $ 23,621 | $ 21,366 |
Income taxes paid | 21,000 | 1,000 |
Transfers of loans to other real estate owned | 4,744 | 6,660 |
Financing of other real estate owned sold | $ 222 | $ 259 |
Business Segments - Additional
Business Segments - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2015Segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 4 |
Business Segments - Financial I
Business Segments - Financial Information for Segments of Corporation (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||||
Interest income | $ 135,448 | $ 124,440 | $ 268,817 | $ 242,320 | |
Interest expense | 11,681 | 10,248 | 23,129 | 20,303 | |
Net interest income | 123,767 | 114,192 | 245,688 | 222,017 | |
Provision for credit losses | 8,864 | 10,405 | 17,000 | 17,411 | |
Non-interest income | 39,752 | 39,190 | 77,934 | 81,260 | |
Non-interest expense | 94,500 | 90,123 | 187,040 | 182,006 | |
Intangible amortization | 1,999 | 2,461 | 4,114 | 4,744 | |
Income tax expense (benefit) | 18,025 | 15,562 | 34,994 | 29,761 | |
Net income (loss) | 40,131 | 34,831 | 80,474 | 69,355 | |
Total assets | 16,598,601 | 15,019,247 | 16,598,601 | 15,019,247 | $ 16,127,090 |
Total intangibles | 876,390 | 853,806 | 876,390 | 853,806 | |
Operating Segments [Member] | Community Banking [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 123,967 | 113,161 | 246,085 | 219,852 | |
Interest expense | 10,166 | 8,730 | 20,107 | 16,978 | |
Net interest income | 113,801 | 104,431 | 225,978 | 202,874 | |
Provision for credit losses | 6,945 | 8,425 | 13,272 | 13,721 | |
Non-interest income | 28,313 | 27,420 | 55,614 | 59,333 | |
Non-interest expense | 78,339 | 75,281 | 155,418 | 152,147 | |
Intangible amortization | 1,830 | 2,288 | 3,777 | 4,398 | |
Income tax expense (benefit) | 17,009 | 14,048 | 32,940 | 27,391 | |
Net income (loss) | 37,991 | 31,809 | 76,185 | 64,550 | |
Total assets | 16,412,240 | 14,842,988 | 16,412,240 | 14,842,988 | |
Total intangibles | 851,250 | 830,809 | 851,250 | 830,809 | |
Operating Segments [Member] | Wealth Management [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Non-interest income | 9,199 | 8,033 | 17,586 | 15,356 | |
Non-interest expense | 6,931 | 6,452 | 13,424 | 12,744 | |
Intangible amortization | 68 | 72 | 136 | 144 | |
Income tax expense (benefit) | 789 | 548 | 1,447 | 899 | |
Net income (loss) | 1,411 | 961 | 2,579 | 1,569 | |
Total assets | 21,255 | 21,828 | 21,255 | 21,828 | |
Total intangibles | 10,584 | 10,864 | 10,584 | 10,864 | |
Operating Segments [Member] | Insurance [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 22 | 25 | 45 | 50 | |
Net interest income | 22 | 25 | 45 | 50 | |
Non-interest income | 2,753 | 2,999 | 6,346 | 7,209 | |
Non-interest expense | 3,581 | 2,911 | 7,751 | 5,957 | |
Intangible amortization | 101 | 101 | 201 | 202 | |
Income tax expense (benefit) | (312) | 8 | (538) | 393 | |
Net income (loss) | (595) | 4 | (1,023) | 707 | |
Total assets | 22,523 | 20,785 | 22,523 | 20,785 | |
Total intangibles | 12,747 | 10,324 | 12,747 | 10,324 | |
Operating Segments [Member] | Consumer Finance [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 9,778 | 9,578 | 19,371 | 18,943 | |
Interest expense | 855 | 809 | 1,715 | 1,655 | |
Net interest income | 8,923 | 8,769 | 17,656 | 17,288 | |
Provision for credit losses | 1,964 | 1,778 | 3,538 | 3,235 | |
Non-interest income | 732 | 741 | 1,408 | 1,401 | |
Non-interest expense | 4,994 | 4,880 | 9,802 | 9,817 | |
Income tax expense (benefit) | 1,038 | 1,097 | 2,187 | 2,170 | |
Net income (loss) | 1,659 | 1,755 | 3,537 | 3,467 | |
Total assets | 186,134 | 182,401 | 186,134 | 182,401 | |
Total intangibles | 1,809 | 1,809 | 1,809 | 1,809 | |
Parent and Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 1,681 | 1,676 | 3,316 | 3,475 | |
Interest expense | 660 | 709 | 1,307 | 1,670 | |
Net interest income | 1,021 | 967 | 2,009 | 1,805 | |
Provision for credit losses | (45) | 202 | 190 | 455 | |
Non-interest income | (1,245) | (3) | (3,020) | (2,039) | |
Non-interest expense | 655 | 599 | 645 | 1,341 | |
Income tax expense (benefit) | (499) | (139) | (1,042) | (1,092) | |
Net income (loss) | (335) | 302 | (804) | (938) | |
Total assets | $ (43,551) | $ (48,755) | $ (43,551) | $ (48,755) |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015USD ($) | Jun. 30, 2015USD ($)Securities | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($)Securities | |
Fair Value Measurements Disclosure [Line Items] | ||||
Percentage of securities using market-based information | 99.90% | 99.90% | ||
Percentage of securities using model-based techniques | 0.10% | 0.10% | ||
Minimum reserves for commercial loan | $ 500 | $ 500 | ||
Number of securities transferred between hierarchy levels | Securities | 0 | 0 | ||
Transfer of equity security to non-marketable equity securities | 56 | |||
Impaired loans, carrying amount | 68,308 | $ 68,308 | $ 69,450 | |
Allocated allowance for loan losses | 2,226 | 2,226 | ||
Fair value of allocated allowance | 722 | 722 | ||
Estimated costs to sell | 91 | 91 | ||
Provision for fair value measurements included in allowance for loan losses | 1,046 | |||
Carrying amount of OREO | 8,263 | 8,263 | ||
Written down of OREO | 5,625 | |||
Fair value of OREO | 6,336 | 6,336 | ||
Estimated cost to sell OREO | 711 | |||
Loss from OREO included in earnings | $ 2,638 | |||
Short-term borrowings approximate fair value for amounts that mature, days, less than | 90 days | |||
Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value Measurements Disclosure [Line Items] | ||||
Impaired loans, carrying amount | 2,857 | $ 2,857 | ||
Allocated allowance for loan losses | 722 | 722 | 1,705 | |
Fair value of OREO | $ 6,336 | 6,336 | $ 8,060 | |
Assets Still Held [Member] | ||||
Fair Value Measurements Disclosure [Line Items] | ||||
Change in unrealized gains or losses included in earnings relating to assets still held | $ 0 | $ 0 |
Fair Value Measurements - Balan
Fair Value Measurements - Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale securities | $ 1,618,620 | $ 1,534,065 |
Derivative assets | 43,049 | 45,898 |
Derivative liabilities | 43,319 | 46,160 |
U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 29,928 | 29,682 |
U.S. Government-Sponsored Entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 404,076 | 337,133 |
Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 555,597 | 573,171 |
Assets measured at fair value, Available for sale securities | 555,597 | |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 1,279 | 1,431 |
Assets measured at fair value, Available for sale securities | 1,279 | |
Commercial Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 5,006 | 7,880 |
Assets measured at fair value, Available for sale securities | 5,006 | |
States of the U.S. and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 11,457 | 13,158 |
Other Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 16,241 | 16,178 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale securities | 216 | 218 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale securities | 1,616,747 | 1,531,952 |
Derivative assets | 43,049 | 45,898 |
Derivative liabilities | 43,319 | 46,160 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale securities | 1,657 | 1,895 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 1,617,340 | 1,532,718 |
Assets measured at fair value, Available for sale equity securities | 1,280 | 1,347 |
Assets measured at fair value, Available for sale securities | 1,618,620 | 1,534,065 |
Derivative assets | 43,049 | 45,898 |
Assets measured at fair value, Total | 1,661,669 | 1,579,963 |
Liabilities measured at fair value, Total | 43,319 | 46,160 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 29,928 | 29,682 |
Fair Value, Measurements, Recurring [Member] | U.S. Government-Sponsored Entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 404,076 | 337,133 |
Fair Value, Measurements, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 555,597 | 573,171 |
Fair Value, Measurements, Recurring [Member] | Non-Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 1,279 | 1,431 |
Fair Value, Measurements, Recurring [Member] | Commercial Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 5,006 | 7,880 |
Fair Value, Measurements, Recurring [Member] | States of the U.S. and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 11,457 | 13,158 |
Fair Value, Measurements, Recurring [Member] | Other Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 16,241 | 16,178 |
Fair Value, Measurements, Recurring [Member] | Trading Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 41,172 | 43,789 |
Fair Value, Measurements, Recurring [Member] | Not for Trading Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 1,877 | 2,109 |
Fair Value, Measurements, Recurring [Member] | Financial Services Industry [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale equity securities | 1,158 | 1,228 |
Fair Value, Measurements, Recurring [Member] | Insurance Services Industry [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale equity securities | 122 | 119 |
Fair Value, Measurements, Recurring [Member] | Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 593,756 | 554,085 |
Fair Value, Measurements, Recurring [Member] | Trading Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | 41,336 | 43,830 |
Fair Value, Measurements, Recurring [Member] | Not for Trading Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | 1,983 | 2,330 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale equity securities | 216 | 218 |
Assets measured at fair value, Available for sale securities | 216 | 218 |
Assets measured at fair value, Total | 216 | 218 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Financial Services Industry [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale equity securities | 94 | 99 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Insurance Services Industry [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale equity securities | 122 | 119 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 1,616,070 | 1,531,298 |
Assets measured at fair value, Available for sale equity securities | 677 | 654 |
Assets measured at fair value, Available for sale securities | 1,616,747 | 1,531,952 |
Derivative assets | 43,049 | 45,898 |
Assets measured at fair value, Total | 1,659,796 | 1,577,850 |
Liabilities measured at fair value, Total | 43,319 | 46,160 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 29,928 | 29,682 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. Government-Sponsored Entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 404,076 | 337,133 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 555,597 | 573,171 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Non-Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 9 | 11 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Commercial Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 5,006 | 7,880 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | States of the U.S. and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 11,457 | 13,158 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 16,241 | 16,178 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Trading Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 41,172 | 43,789 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Not for Trading Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 1,877 | 2,109 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Financial Services Industry [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale equity securities | 677 | 654 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 593,756 | 554,085 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Trading Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | 41,336 | 43,830 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Not for Trading Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | 1,983 | 2,330 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 1,270 | 1,420 |
Assets measured at fair value, Available for sale equity securities | 387 | 475 |
Assets measured at fair value, Available for sale securities | 1,657 | 1,895 |
Assets measured at fair value, Total | 1,657 | 1,895 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Non-Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale debt securities | 1,270 | 1,420 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Financial Services Industry [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale equity securities | $ 387 | $ 475 |
Fair Value Measurements - Add96
Fair Value Measurements - Additional Information about Assets Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance at beginning of period | $ 1,895 | $ 33,749 |
Total gains (losses) - realized/unrealized, Included in earnings | 13,766 | |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | (40) | 5,676 |
Accretion included in earnings | 2 | 662 |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Sales/redemptions | (51,527) | |
Settlements | (144) | (431) |
Transfers from Level 3 | (56) | |
Transfers into Level 3 | 0 | 0 |
Balance at end of period | 1,657 | 1,895 |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance at beginning of period | 31,595 | |
Total gains (losses) - realized/unrealized, Included in earnings | 13,766 | |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | 5,608 | |
Accretion included in earnings | 657 | |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Sales/redemptions | (51,527) | |
Settlements | (99) | |
Transfers into Level 3 | 0 | 0 |
Equity Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance at beginning of period | 475 | 410 |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | (32) | 65 |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Transfers from Level 3 | (56) | |
Transfers into Level 3 | 0 | 0 |
Balance at end of period | 387 | 475 |
Residential Non-Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance at beginning of period | 1,420 | 1,744 |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | (8) | 3 |
Accretion included in earnings | 2 | 5 |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Settlements | (144) | (332) |
Transfers into Level 3 | 0 | 0 |
Balance at end of period | $ 1,270 | $ 1,420 |
Fair Value Measurements - Add97
Fair Value Measurements - Additional Information about Assets Measured at Fair Value on Non-Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 2,226 | |
Other real estate owned | 6,336 | |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 722 | $ 1,705 |
Other real estate owned | 6,336 | 8,060 |
Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 113 | 177 |
Other real estate owned | 4,170 | 5,695 |
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 609 | 1,528 |
Other real estate owned | $ 2,166 | $ 2,365 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Values of Corporation's Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | $ 237,479 | $ 287,393 | $ 270,720 | $ 213,981 |
Securities available for sale | 1,618,620 | 1,534,065 | ||
Securities held to maturity | 1,518,060 | 1,453,355 | ||
Securities held to maturity | 1,526,040 | 1,468,258 | ||
Derivative assets | 43,049 | 45,898 | ||
Deposits | 12,358,127 | 11,382,208 | ||
Short-term borrowings | 1,507,582 | 2,041,658 | ||
Long-term borrowings | 542,578 | 541,443 | ||
Derivative liabilities | 43,319 | 46,160 | ||
Fair Value [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 237,479 | 287,393 | ||
Securities available for sale | 1,618,620 | 1,534,065 | ||
Securities held to maturity | 1,526,040 | 1,468,258 | ||
Net loans and leases, including loans held for sale | 11,312,391 | 10,956,544 | ||
Derivative assets | 43,049 | 45,898 | ||
Accrued interest receivable | 41,824 | 40,231 | ||
Deposits | 12,356,232 | 11,382,402 | ||
Short-term borrowings | 1,507,582 | 2,041,672 | ||
Long-term borrowings | 541,578 | 539,007 | ||
Derivative liabilities | 43,319 | 46,160 | ||
Accrued interest payable | 6,197 | 6,689 | ||
Carrying Amount [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 237,479 | 287,393 | ||
Securities available for sale | 1,618,620 | 1,534,065 | ||
Securities held to maturity | 1,518,060 | 1,453,355 | ||
Net loans and leases, including loans held for sale | 11,502,357 | 11,127,292 | ||
Derivative assets | 43,049 | 45,898 | ||
Accrued interest receivable | 41,824 | 40,231 | ||
Deposits | 12,358,127 | 11,382,208 | ||
Short-term borrowings | 1,507,582 | 2,041,658 | ||
Long-term borrowings | 542,578 | 541,443 | ||
Derivative liabilities | 43,319 | 46,160 | ||
Accrued interest payable | 6,197 | 6,689 | ||
Level 1 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 237,479 | 287,393 | ||
Securities available for sale | 216 | 218 | ||
Accrued interest receivable | 41,824 | 40,231 | ||
Deposits | 9,770,550 | 8,771,173 | ||
Short-term borrowings | 1,507,582 | 2,041,672 | ||
Accrued interest payable | 6,197 | 6,689 | ||
Level 2 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Securities available for sale | 1,616,747 | 1,531,952 | ||
Securities held to maturity | 1,522,654 | 1,463,945 | ||
Derivative assets | 43,049 | 45,898 | ||
Deposits | 2,585,682 | 2,611,229 | ||
Derivative liabilities | 43,319 | 46,160 | ||
Level 3 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Securities available for sale | 1,657 | 1,895 | ||
Securities held to maturity | 3,386 | 4,313 | ||
Net loans and leases, including loans held for sale | 11,312,391 | 10,956,544 | ||
Long-term borrowings | $ 541,578 | $ 539,007 |