Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Oct. 31, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | FNB | |
Entity Registrant Name | FNB CORP/PA/ | |
Entity Central Index Key | 37,808 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 210,454,950 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and due from banks | $ 326,599 | $ 207,399 |
Interest bearing deposits with banks | 118,651 | 281,720 |
Cash and Cash Equivalents | 445,250 | 489,119 |
Securities available for sale | 2,077,616 | 1,630,567 |
Securities held to maturity (fair value of $2,278,755 and $1,643,416) | 2,249,245 | 1,637,061 |
Residential mortgage loans held for sale | 17,862 | 4,781 |
Loans and leases, net of unearned income of $53,800 and $51,642 | 14,773,446 | 12,190,440 |
Allowance for credit losses | (156,894) | (142,012) |
Net Loans and Leases | 14,616,552 | 12,048,428 |
Premises and equipment, net | 228,622 | 159,080 |
Goodwill | 1,022,006 | 833,086 |
Core deposit and other intangible assets, net | 81,646 | 45,644 |
Bank owned life insurance | 327,874 | 308,192 |
Other assets | 517,241 | 401,704 |
Total Assets | 21,583,914 | 17,557,662 |
Liabilities | ||
Non-interest bearing demand | 4,082,145 | 3,059,949 |
Interest bearing demand | 7,032,744 | 5,311,589 |
Savings | 2,299,408 | 1,786,459 |
Certificates and other time deposits | 2,562,587 | 2,465,466 |
Total Deposits | 15,976,884 | 12,623,463 |
Short-term borrowings | 2,236,105 | 2,048,896 |
Long-term borrowings | 587,500 | 641,480 |
Other liabilities | 212,845 | 147,641 |
Total Liabilities | 19,013,334 | 15,461,480 |
Stockholders' Equity | ||
Preferred stock-$0.01 par value; liquidation preference of $1,000 per share 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 - 211,540,856 and 176,595,060 shares | 2,117 | 1,766 |
Additional paid-in capital | 2,223,530 | 1,808,210 |
Retained earnings | 280,654 | 243,217 |
Accumulated other comprehensive loss | (27,853) | (51,133) |
Treasury stock - 1,316,662 and 1,153,390 shares at cost | (14,750) | (12,760) |
Total Stockholders' Equity | 2,570,580 | 2,096,182 |
Total Liabilities and Stockholders' Equity | $ 21,583,914 | $ 17,557,662 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Securities held to maturity, fair value | $ 2,278,755 | $ 1,643,416 |
Unearned income on loans | $ 53,800 | $ 51,642 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, liquidation preference per share | $ 1,000 | $ 1,000 |
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 | 211,540,856 | 176,595,060 |
Treasury stock, shares | 1,316,662 | 1,153,390 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest Income | ||||
Loans and leases, including fees | $ 154,272 | $ 120,875 | $ 442,113 | $ 358,074 |
Securities: | ||||
Taxable | 18,432 | 14,576 | 52,901 | 43,257 |
Nontaxable | 2,254 | 1,707 | 6,401 | 4,564 |
Dividends | 9 | 9 | 23 | 29 |
Other | 143 | 30 | 357 | 90 |
Total Interest Income | 175,110 | 137,197 | 501,795 | 406,014 |
Interest Expense | ||||
Deposits | 10,477 | 7,948 | 30,387 | 23,033 |
Short-term borrowings | 3,607 | 1,786 | 8,527 | 5,348 |
Long-term borrowings | 3,520 | 2,262 | 10,652 | 6,744 |
Total Interest Expense | 17,604 | 11,996 | 49,566 | 35,125 |
Net Interest Income | 157,506 | 125,201 | 452,229 | 370,889 |
Provision for credit losses | 14,639 | 10,777 | 43,047 | 27,777 |
Net Interest Income After Provision for Credit Losses | 142,867 | 114,424 | 409,182 | 343,112 |
Non-Interest Income | ||||
Service charges | 25,756 | 18,628 | 73,428 | 51,959 |
Trust fees | 5,268 | 5,210 | 15,955 | 15,803 |
Insurance commissions and fees | 4,866 | 4,423 | 13,892 | 12,351 |
Securities commissions and fees | 3,404 | 3,304 | 10,400 | 9,958 |
Net securities gains | 299 | 314 | 596 | 319 |
Mortgage banking operations | 3,564 | 2,424 | 7,912 | 6,739 |
Bank owned life insurance | 3,315 | 1,846 | 7,936 | 5,527 |
Other | 6,768 | 5,210 | 20,576 | 16,637 |
Total Non-Interest Income | 53,240 | 41,359 | 150,695 | 119,293 |
Non-Interest Expense | ||||
Salaries and employee benefits | 60,927 | 51,859 | 178,681 | 151,559 |
Net occupancy | 10,333 | 7,957 | 29,792 | 25,405 |
Equipment | 10,034 | 8,237 | 28,604 | 23,583 |
Amortization of intangibles | 3,571 | 2,034 | 9,608 | 6,148 |
Outside services | 11,756 | 7,314 | 30,884 | 25,254 |
FDIC insurance | 5,274 | 3,158 | 14,345 | 9,630 |
Merger and acquisition related | 299 | 1,312 | 35,790 | 1,683 |
Other | 18,856 | 16,278 | 59,623 | 46,041 |
Total Non-Interest Expense | 121,050 | 98,149 | 387,327 | 289,303 |
Income Before Income Taxes | 75,057 | 57,634 | 172,550 | 173,102 |
Income taxes | 22,889 | 17,581 | 52,950 | 52,575 |
Net Income | 52,168 | 40,053 | 119,600 | 120,527 |
Less: Preferred stock dividends | 2,010 | 2,010 | 6,030 | 6,030 |
Net Income Available to Common Stockholders | $ 50,158 | $ 38,043 | $ 113,570 | $ 114,497 |
Net Income per Common Share - Basic | $ 0.24 | $ 0.22 | $ 0.55 | $ 0.65 |
Net Income per Common Share - Diluted | 0.24 | 0.22 | 0.55 | 0.65 |
Cash Dividends per Common Share | $ 0.12 | $ 0.12 | $ 0.36 | $ 0.36 |
Comprehensive income | $ 49,774 | $ 49,609 | $ 142,880 | $ 132,133 |
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, 2014 | $ 2,021,456 | $ 106,882 | $ 1,754 | $ 1,798,984 | $ 176,120 | $ (46,003) | $ (16,281) |
Comprehensive income | 132,133 | 120,527 | 11,606 | ||||
Dividends declared: | |||||||
Preferred stock | (6,030) | (6,030) | |||||
Common stock: $0.36/share | (63,330) | (63,330) | |||||
Issuance of common stock | 7,229 | 12 | 3,651 | 3,566 | |||
Restricted stock compensation | 3,286 | 3,286 | |||||
Tax benefit of stock-based compensation | 5 | 5 | |||||
Balance at Sep. 30, 2015 | 2,094,749 | 106,882 | 1,766 | 1,805,926 | 227,287 | (34,397) | (12,715) |
Balance at Dec. 31, 2015 | 2,096,182 | 106,882 | 1,766 | 1,808,210 | 243,217 | (51,133) | (12,760) |
Comprehensive income | 142,880 | 119,600 | 23,280 | ||||
Dividends declared: | |||||||
Preferred stock | (6,030) | (6,030) | |||||
Common stock: $0.36/share | (76,133) | (76,133) | |||||
Issuance of common stock | 4,714 | 10 | 6,694 | (1,990) | |||
Issuance of common stock-acquisitions | 404,031 | 341 | 403,690 | ||||
Restricted stock compensation | 4,644 | 4,644 | |||||
Tax benefit of stock-based compensation | 292 | 292 | |||||
Balance at Sep. 30, 2016 | $ 2,570,580 | $ 106,882 | $ 2,117 | $ 2,223,530 | $ 280,654 | $ (27,853) | $ (14,750) |
Consolidated Statements of Sto6
Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Statement of Stockholders' Equity [Abstract] | ||||
Common stock dividends per share | $ 0.12 | $ 0.12 | $ 0.36 | $ 0.36 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Operating Activities | ||
Net income | $ 119,600 | $ 120,527 |
Adjustments to reconcile net income to net cash flows provided by operating activities: | ||
Depreciation, amortization and accretion | 45,059 | 31,412 |
Provision for credit losses | 43,047 | 27,777 |
Deferred tax expense | 10,390 | 3,874 |
Net securities gains | (596) | (319) |
Tax benefit of stock-based compensation | (292) | (5) |
Loans originated for sale | (484,437) | (336,776) |
Loans sold | 482,161 | 346,174 |
Gain on sale of loans | (10,806) | (6,794) |
Net change in: | ||
Interest receivable | (1,372) | (4,457) |
Interest payable | 945 | (414) |
Bank owned life insurance | (3,103) | (4,266) |
Other, net | (10,708) | 8,144 |
Net cash flows provided by operating activities | 189,888 | 184,877 |
Investing Activities | ||
Net change in loans and leases | (666,413) | (657,586) |
Securities available for sale: | ||
Purchases | (753,544) | (279,636) |
Sales | 615,199 | 33,499 |
Maturities | 437,406 | 212,140 |
Securities held to maturity: | ||
Purchases | (875,597) | (279,998) |
Maturities | 259,202 | 203,689 |
Purchase of bank owned life insurance | (16,579) | (72,688) |
Withdrawal/surrender of bank owned life insurance | 72,664 | |
Increase in premises and equipment | (37,074) | (7,304) |
Net cash received in business combinations | 245,762 | 148,159 |
Net cash flows used in investing activities | (791,638) | (627,061) |
Financing Activities | ||
Demand (non-interest bearing and interest bearing) and savings accounts | 858,937 | 1,304,345 |
Time deposits | (134,234) | (78,764) |
Short-term borrowings | (15,192) | (754,356) |
Increase in long-term borrowings | 39,888 | 20,976 |
Decrease in long-term borrowings | (119,005) | (19,804) |
Net proceeds from issuance of common stock | 9,358 | 10,515 |
Tax benefit of stock-based compensation | 292 | 5 |
Cash dividends paid: | ||
Preferred stock | (6,030) | (6,030) |
Common stock | (76,133) | (63,330) |
Net cash flows provided by financing activities | 557,881 | 413,557 |
Net Decrease in Cash and Cash Equivalents | (43,869) | (28,627) |
Cash and cash equivalents at beginning of period | 489,119 | 287,393 |
Cash and Cash Equivalents at End of Period | $ 445,250 | $ 258,766 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 September 30, 2016 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 26, 2016. 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, fair value measurements and income taxes. Business Combinations Business combinations are accounted for by applying the acquisition method in accordance with Accounting Standards Codification (ASC) 805, Business Combinations. Cloud Computing Arrangements Beginning in 2016, for new or materially modified contracts, the Corporation prospectively adopted new accounting principles to evaluate fees paid for cloud computing arrangements to determine if those arrangements include the purchase of or license to software that should be accounted for separately as internal-use software. If a contract includes the purchase or license to software that should be accounted for separately as internal-use software, the contract is amortized over the software’s identified useful life in amortization of intangibles. For contracts that do not include a software license, the contract is accounted for as a service contract with fees paid recorded in other non-interest expense. Stock Based Compensation The Corporation accounts for its stock based compensation awards in accordance with ASC 718, Compensation—Stock Compensation, ASC 718 requires companies to estimate the fair value of stock-based awards on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense in the Corporation’s consolidated statements of comprehensive income over the shorter of requisite service periods or the period through the date that the employee first becomes eligible to retire. Some of the Corporation’s plans contain performance targets that affect vesting and can be achieved after the requisite service period and are accounted for as performance conditions. Beginning in 2016, the performance target is not reflected in the estimation of the award’s grant date fair value and compensation cost is recognized in the period in which it becomes probable that the performance condition will be achieved. Because stock-based compensation expense is based on awards that are ultimately expected to vest, stock-based compensation expense has been reduced to account for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Variable Interest Entities The Corporation has investments in certain partnerships and limited liability entities that qualify as variable interest entities (VIEs). These entities are evaluated on an on-going basis to determine whether they should be consolidated. Consolidation of a VIE is appropriate if a reporting entity holds a controlling financial interest in the VIE. The Corporation has determined that it does not hold a controlling financial interest in any of the VIEs and, therefore, the assets and liabilities of these entities are not consolidated into its financial statements. Instead, investments in these entities are accounted for under the equity method of accounting and are evaluated periodically for impairment. The recorded investment in these entities is reported in other assets on the consolidated balance sheets. |
New Accounting Standards
New Accounting Standards | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Changes and Error Corrections [Abstract] | |
New Accounting Standards | 2. NEW ACCOUNTING STANDARDS The following paragraphs summarize accounting pronouncements applicable to the Corporation that have been issued by the Financial Accounting Standards Board (FASB) but are not yet effective. Statement of Cash Flows Accounting Standards Update (ASU or Update) 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force), Credit Losses ASU 2016-13 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Revenue Recognition ASU 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients, ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing, ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net), ASU 2014-09, Revenue from Contracts with Customers (Topic 606), The guidance for these Revenue Recognition Updates is effective for annual periods beginning in the first quarter of 2018. Early application is permitted beginning in the first quarter of 2017. The Corporation is currently assessing the potential impact to its Consolidated Financial Statements. Stock Based Compensation ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, Investments ASU 2016-07, Investments—Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting, Derivative and Hedging Activities ASU 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments (a consensus of the Emerging Issues Task Force), ASU 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (a consensus of the Emerging Issues Task Force), Extinguishments of Liabilities ASU 2016-04, Liabilities—Extinguishments of Liabilities (Subtopic 405-20): Recognition of Breakage for Certain Prepaid Stored-Value Products (a consensus of the Emerging Issues Task Force), Leases ASU 2016-02, Leases (Topic 842), Financial Instruments – Recognition and Measurement ASU 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, |
Mergers and Acquisitions
Mergers and Acquisitions | 9 Months Ended |
Sep. 30, 2016 | |
Business Combinations [Abstract] | |
Mergers and Acquisitions | 3. MERGERS AND ACQUISITIONS Branch Purchase – Fifth Third Bank On April 22, 2016, the Corporation completed its purchase of 17 branch-banking locations and certain consumer loans in the Pittsburgh, Pennsylvania metropolitan area from Fifth Third Bank (Fifth Third). The fair value of the acquired assets totaled $316.6 million, including $198.9 million in cash, $97.7 million in loans and $14.1 million in fixed and other assets. The Corporation also assumed $302.5 million in deposits, for which it paid a deposit premium of 1.97%, as part of the transaction. The assets and liabilities relating to these purchased branches were recorded on the Corporation’s balance sheet at their preliminary fair values as of April 22, 2016, and the related results of operations for these branches have been included in the Corporation’s consolidated statement of comprehensive income since that date. Based on the preliminary purchase price allocation, the Corporation recorded $12.3 million in goodwill and $6.0 million in core deposit intangibles. These fair value estimates are provisional amounts based on third party valuations that are currently under review. The goodwill for this transaction is deductible for income tax purposes. Metro Bancorp, Inc. On February 13, 2016, the Corporation completed its acquisition of Metro Bancorp, Inc. (METR), a bank holding company based in Harrisburg, Pennsylvania. The acquisition enhanced the Corporation’s distribution and scale across Central Pennsylvania, strengthened its position as the largest Pennsylvania-based regional bank and allowed the Corporation to leverage the significant infrastructure investments made in connection with the expansion of its product offerings and risk management systems. On the acquisition date, the estimated fair values of METR included $2.8 billion in assets, $1.9 billion in loans and $2.3 billion in deposits. The acquisition was valued at $404.0 million and resulted in the Corporation issuing 34,041,181 shares of its common stock in exchange for 14,345,319 shares of METR common stock. The Corporation also acquired the fully vested outstanding stock options of METR. The assets and liabilities of METR were recorded on the Corporation’s consolidated balance sheet at their preliminary estimated fair values as of February 13, 2016, the acquisition date, and METR’s results of operations have been included in the Corporation’s consolidated statement of comprehensive income since that date. METR’s banking affiliate, Metro Bank, was merged into FNBPA on February 13, 2016. Based on the preliminary purchase price allocation, the Corporation recorded $176.8 million in goodwill and $36.8 million in core deposit intangibles as a result of the acquisition. These fair value estimates are provisional amounts based on third party valuations that are currently under review. None of the goodwill is deductible for income tax purposes. The following pro forma financial information for the nine months ended September 30, 2015 reflects the Corporation’s estimated consolidated pro forma results of operations as if the METR acquisition occurred on January 1, 2015, unadjusted for potential cost savings and other business synergies the Corporation expects to receive as a result of the acquisition: (dollars in thousands, except per share data) FNB METR Pro Forma Pro Revenue (net interest income and non-interest income) $ 490,182 $ 101,029 $ (3,183 ) $ 588,028 Net income 120,527 14,714 (6,011 ) 129,230 Net income available to common stockholders 114,497 14,654 (5,951 ) 123,200 Earnings per common share – basic 0.65 1.04 — 0.59 Earnings per common share – diluted 0.65 1.02 — 0.58 The pro forma adjustments reflect amortization and associated taxes related to the purchase accounting adjustments made to record various acquired items at fair value. In connection with the METR acquisition, the Corporation incurred expenses related to systems conversions and other costs of integrating and conforming acquired operations with and into the Corporation. These merger-related charges amounted to $30.9 million for the nine months ended September 30, 2016 and were expensed as incurred.Severance costs comprised 40.8% of the merger-related expenses, with the remainder consisting of other non-interest expenses, including professional services, marketing and advertising, technology and communications, occupancy and equipment, and charitable contributions. The Corporation also incurred issuance costs of $0.7 million which were charged to additional paid-in capital. Branch Purchase – Bank of America On September 18, 2015, the Corporation completed its purchase of five branch-banking locations in southeastern Pennsylvania from Bank of America (BofA). The fair value of the acquired assets totaled $153.1 million, including $148.2 million in cash and $2.0 million in fixed and other assets. The Corporation also assumed $154.6 million in deposits associated with these branches. The Corporation paid a deposit premium of 1.96% and acquired an immaterial amount of loans as part of the transaction. The Corporation’s operating results for 2015 include the impact of branch activity subsequent to the September 18, 2015 closing date. The Corporation recorded $1.5 million in goodwill and $3.0 million in core deposit intangibles. The goodwill for this transaction is deductible for income tax purposes. The following table summarizes the amounts recorded on the consolidated balance sheets as of each of the acquisition dates in conjunction with the acquisitions discussed above: (in thousands) Fifth Third Branches METR BofA Branches Fair value of consideration paid $ — $ 404,031 $ — Fair value of identifiable assets acquired: Cash and cash equivalents 198,872 46,890 148,159 Securities — 722,980 — Loans 97,740 1,868,873 842 Core deposit intangibles 5,952 36,801 3,000 Other assets 14,069 123,055 1,133 Total identifiable assets acquired 316,633 2,798,599 153,134 Fair value of liabilities assumed: Deposits 302,529 2,328,238 154,619 Borrowings — 227,539 — Other liabilities 26,427 15,545 — Total liabilities assumed 328,956 2,571,322 154,619 Fair value of net identifiable assets acquired (12,323 ) 227,277 (1,485 ) Goodwill recognized (1) $ 12,323 $ 176,754 $ 1,485 (1) All of the goodwill for these transactions has been recorded by FNBPA. Pending Acquisition – Yadkin Financial Corporation On July 20, 2016, the Corporation entered into a definitive merger agreement to acquire Yadkin Financial Corporation (YDKN), a bank holding company based in Raleigh, North Carolina, with approximately $7.5 billion in total assets. The transaction is valued at approximately $1.3 billion. Under the terms of the merger agreement, YDKN voting common shareholders will be entitled to receive 2.16 shares of the Corporation’s common stock for each share of YDKN common stock. The Corporation expects to issue approximately 111.4 million shares of its common stock in exchange for approximately 51.6 million shares of YDKN common stock. YDKN’s banking affiliate, Yadkin Bank, will be merged into FNBPA. The transaction is expected to be completed in the first quarter of 2017, pending regulatory approvals, the approval of shareholders of the Corporation and YDKN, and the satisfaction of other closing conditions. |
Securities
Securities | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | 4. SECURITIES The amortized cost and fair value of securities are as follows: (in thousands) Amortized Cost Gross Gross Fair Value Securities Available for Sale September 30, 2016 U.S. Treasury $ 29,839 $ 165 $ — $ 30,004 U.S. government-sponsored entities 382,570 2,106 (39 ) 384,637 Residential mortgage-backed securities: Agency mortgage-backed securities 1,039,245 17,406 — 1,056,651 Agency collateralized mortgage obligations 552,974 3,517 (1,768 ) 554,723 Non-agency collateralized mortgage obligations 934 1 — 935 Commercial mortgage-backed securities 2,817 — (1 ) 2,816 States of the U.S. and political subdivisions 36,963 205 (30 ) 37,138 Other debt securities 9,803 122 (580 ) 9,345 Total debt securities 2,055,145 23,522 (2,418 ) 2,076,249 Equity securities 975 392 — 1,367 Total securities available for sale $ 2,056,120 $ 23,914 $ (2,418 ) $ 2,077,616 December 31, 2015 U.S. Treasury $ 29,738 $ 58 $ — $ 29,796 U.S. government-sponsored entities 368,463 856 (1,325 ) 367,994 Residential mortgage-backed securities: Agency mortgage-backed securities 703,069 4,594 (2,832 ) 704,831 Agency collateralized mortgage obligations 503,328 1,032 (8,530 ) 495,830 Non-agency collateralized mortgage obligations 1,177 13 — 1,190 Commercial mortgage-backed securities 4,299 — (12 ) 4,287 States of the U.S. and political subdivisions 10,748 309 — 11,057 Other debt securities 14,729 208 (651 ) 14,286 Total debt securities 1,635,551 7,070 (13,350 ) 1,629,271 Equity securities 975 324 (3 ) 1,296 Total securities available for sale $ 1,636,526 $ 7,394 $ (13,353 ) $ 1,630,567 Securities Held to Maturity September 30, 2016 U.S. Treasury $ 500 $ 192 $ — $ 692 U.S. government-sponsored entities 272,715 1,076 (196 ) 273,595 Residential mortgage-backed securities: Agency mortgage-backed securities 830,590 20,337 — 850,927 Agency collateralized mortgage obligations 787,120 3,927 (3,054 ) 787,993 Non-agency collateralized mortgage obligations 1,877 8 (5 ) 1,880 Commercial mortgage-backed securities 50,022 1,478 (120 ) 51,380 States of the U.S. and political subdivisions 306,421 6,558 (691 ) 312,288 Total securities held to maturity $ 2,249,245 $ 33,576 $ (4,066 ) $ 2,278,755 December 31, 2015 U.S. Treasury $ 500 $ 153 $ — $ 653 U.S. government-sponsored entities 137,385 809 (395 ) 137,799 Residential mortgage-backed securities: Agency mortgage-backed securities 709,970 9,858 (1,176 ) 718,652 Agency collateralized mortgage obligations 499,694 803 (7,657 ) 492,840 Non-agency collateralized mortgage obligations 2,681 14 — 2,695 Commercial mortgage-backed securities 51,258 115 (259 ) 51,114 States of the U.S. and political subdivisions 235,573 4,191 (101 ) 239,663 Total securities held to maturity $ 1,637,061 $ 15,943 $ (9,588 ) $ 1,643,416 Gross gains and gross losses were realized on securities as follows: Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Gross gains $ 299 $ 314 $ 597 $ 328 Gross losses — — (1 ) (9 ) Net gains $ 299 $ 314 $ 596 $ 319 As of September 30, 2016, the amortized cost and fair value of securities, by contractual maturities, were as: Available for Sale Held to Maturity (in thousands) Amortized Fair Value Amortized Fair Value Due in one year or less $ 50,029 $ 50,221 $ 10,472 $ 10,486 Due from one to five years 377,561 379,721 254,105 255,091 Due from five to ten years 24,302 24,482 69,863 70,901 Due after ten years 7,283 6,700 245,196 250,097 459,175 461,124 579,636 586,575 Residential mortgage-backed securities: Agency mortgage-backed securities 1,039,245 1,056,651 830,590 850,927 Agency collateralized mortgage obligations 552,974 554,723 787,120 787,993 Non-agency collateralized mortgage obligations 934 935 1,877 1,880 Commercial mortgage-backed securities 2,817 2,816 50,022 51,380 Equity securities 975 1,367 — — Total securities $ 2,056,120 $ 2,077,616 $ 2,249,245 $ 2,278,755 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. Following is information relating to securities pledged: (dollars in thousands) September 30, December 31, Securities pledged (carrying value): Collateral for public deposits, trust deposits and for other purposes as required by law $ 2,876,304 $ 1,728,939 Collateral for short-term borrowings 332,095 272,629 Securities pledged as a percent of total securities 74.2 % 61.3 % Following are summaries of the fair values and unrealized losses of impaired securities, segregated by length of impairment: Less than 12 Months 12 Months or More Total (dollars in thousands) # Fair Unrealized # Fair Value Unrealized # Fair Value Unrealized Securities Available for Sale September 30, 2016 U.S. government-sponsored entities 2 $ 39,961 $ (39 ) — $ — $ — 2 $ 39,961 $ (39 ) Residential mortgage-backed securities: Agency collateralized mortgage obligations 9 127,838 (290 ) 9 96,505 (1,478 ) 18 224,343 (1,768 ) Commercial mortgage-backed securities 1 2,817 (1 ) — — — 1 2,817 (1 ) States of the U.S. and political subdivisions 11 14,304 (30 ) — — — 11 14,304 (30 ) Other debt securities — — — 3 4,322 (580 ) 3 4,322 (580 ) Total impaired securities available for sale 23 $ 184,920 $ (360 ) 12 $ 100,827 $ (2,058 ) 35 $ 285,747 $ (2,418 ) December 31, 2015 U.S. government-sponsored entities 6 $ 99,131 $ (814 ) 2 $ 34,487 $ (511 ) 8 $ 133,618 $ (1,325 ) Residential mortgage-backed securities: Agency mortgage-backed securities 19 359,250 (2,832 ) — — — 19 359,250 (2,832 ) Agency collateralized mortgage obligations 9 126,309 (1,366 ) 18 215,330 (7,164 ) 27 341,639 (8,530 ) Commercial mortgage-backed securities 1 4,287 (12 ) — — — 1 4,287 (12 ) Other debt securities — — — 3 4,245 (651 ) 3 4,245 (651 ) Equity securities 1 632 (3 ) — — — 1 632 (3 ) Total impaired securities available for sale 36 $ 589,609 $ (5,027 ) 23 $ 254,062 $ (8,326 ) 59 $ 843,671 $ (13,353 ) Securities Held to Maturity September 30, 2016 U.S. government-sponsored entities 2 $ 39,804 $ (196 ) — $ — $ — 2 $ 39,804 $ (196 ) Residential mortgage-backed securities: Agency collateralized mortgage obligations 12 317,349 (1,623 ) 12 121,880 (1,431 ) 24 439,229 (3,054 ) Non-agency collateralized mortgage obligations 3 1,239 (5 ) — — — 3 1,239 (5 ) Commercial mortgage-backed securities 1 8,415 (120 ) — — — 1 8,415 (120 ) States of the U.S. and political subdivisions 12 36,447 (691 ) — — — 12 36,447 (691 ) Total impaired securities held to maturity 30 $ 403,254 $ (2,635 ) 12 $ 121,880 $ (1,431 ) 42 $ 525,134 $ (4,066 ) December 31, 2015 U.S. government-sponsored entities 3 $ 39,843 $ (173 ) 1 $ 14,778 $ (222 ) 4 $ 54,621 $ (395 ) Residential mortgage-backed securities: Agency mortgage-backed securities 17 212,024 (1,159 ) 1 917 (17 ) 18 212,941 (1,176 ) Agency collateralized mortgage obligations 11 150,593 (1,434 ) 14 160,716 (6,223 ) 25 311,309 (7,657 ) Commercial mortgage-backed securities 3 46,278 (259 ) — — — 3 46,278 (259 ) States of the U.S. and political subdivisions 9 17,616 (101 ) — — — 9 17,616 (101 ) Total impaired securities held to maturity 43 $ 466,354 $ (3,126 ) 16 $ 176,411 $ (6,462 ) 59 $ 642,765 $ (9,588 ) 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. 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: (in thousands) Equities Total For the Nine Months Ended September 30, 2016 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 Nine Months Ended September 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 The Corporation did not recognize any impairment losses on securities for the nine months ended September 30, 2016 or 2015. States of the U.S. and Political Subdivisions The Corporation’s municipal bond portfolio with a carrying amount of $343.6 million as of September 30, 2016 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 99.9% of the portfolio. Geographically, municipal bonds support the Corporation’s primary footprint as 92.6% 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 $1.9 million. In addition to the strong stand-alone ratings, 79.2% 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. |
Loans and Leases
Loans and Leases | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Loans and Leases | 5. LOANS AND LEASES Following is a summary of loans and leases, net of unearned income: (in thousands) Originated Loans and Leases Acquired Loans Total Loans and September 30, 2016 Commercial real estate $ 3,918,575 $ 1,448,716 $ 5,367,291 Commercial and industrial 2,696,210 392,195 3,088,405 Commercial leases 195,271 — 195,271 Total commercial loans and leases 6,810,056 1,840,911 8,650,967 Direct installment 1,750,189 87,206 1,837,395 Residential mortgages 1,355,476 424,391 1,779,867 Indirect installment 1,150,575 237 1,150,812 Consumer lines of credit 1,088,807 214,416 1,303,223 Other 51,182 — 51,182 Total loans and leases, net of unearned income $ 12,206,285 $ 2,567,161 $ 14,773,446 (in thousands) Originated Loans and Leases Acquired Loans Total Loans and December 31, 2015 Commercial real estate $ 3,531,146 $ 577,910 $ 4,109,056 Commercial and industrial 2,534,351 67,371 2,601,722 Commercial leases 204,553 — 204,553 Total commercial loans and leases 6,270,050 645,281 6,915,331 Direct installment 1,660,717 45,919 1,706,636 Residential mortgages 1,044,689 351,282 1,395,971 Indirect installment 996,175 554 996,729 Consumer lines of credit 1,021,830 115,425 1,137,255 Other 38,518 — 38,518 Total loans and leases, net of unearned income $ 11,031,979 $ 1,158,461 $ 12,190,440 The loans and leases portfolio categories are comprised of the following: • Commercial real estate includes both owner-occupied and non-owner-occupied loans secured by commercial properties; • Commercial and industrial includes loans to business 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; and • Other is comprised primarily of credit cards, mezzanine loans and student loans. The loans and leases 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 loans and leases portfolio also contains Regency consumer finance loans to individuals in Pennsylvania, Ohio, Tennessee and Kentucky. Due to the relative size of the Regency consumer finance loan portfolio, these loans are not segregated from other consumer loans. The following table shows certain information relating to the Regency consumer finance loans: September 30, December 31, (dollars in thousands) 2016 2015 Regency consumer finance loans $ 182,527 $ 186,162 Percent of total loans and leases 1.2 % 1.5 % The following table shows certain information relating to commercial real estate loans: September 30, December 31, (dollars in thousands) 2016 2015 Commercial construction loans $ 454,239 $ 352,322 Percent of total loans and leases 3.1 % 2.9 % Commercial real estate: Percent owner-occupied 36.3 % 38.1 % Percent non-owner-occupied 63.7 % 61.9 % Acquired Loans All acquired loans were initially recorded at fair value at the acquisition date. Refer to the Acquired Loans section in Note 1 of the Corporation’s 2015 Annual Report on Form 10-K for a discussion of ASC 310-20 and ASC 310-30. The outstanding balance and the carrying amount of acquired loans included in the consolidated balance sheets are as follows: (in thousands) September 30, 2016 December 31, Accounted for under ASC 310-30: Outstanding balance $ 2,534,180 $ 1,258,418 Carrying amount 2,206,380 1,011,139 Accounted for under ASC 310-20: Outstanding balance 372,419 146,161 Carrying amount 354,400 140,595 Total acquired loans: Outstanding balance 2,906,599 1,404,579 Carrying amount 2,560,780 1,151,734 The carrying amount of purchased credit impaired loans included in the table above totaled $2.9 million at September 30, 2016 and $5.9 million at December 31, 2015, 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. Nine Months Ended September 30, (in thousands) 2016 2015 Balance at beginning of period $ 256,120 $ 331,899 Acquisitions 308,311 — Reduction due to unexpected early payoffs (60,920 ) (35,601 ) Reclass from non-accretable difference 66,807 24,489 Disposals/transfers (343 ) (509 ) Accretion (77,180 ) (46,207 ) Balance at end of period $ 492,795 $ 274,071 Cash flows expected to be collected on acquired loans are estimated quarterly by incorporating several key assumptions similar to the initial estimate of fair value. These key assumptions include probability of default and the amount of actual prepayments after the acquisition date. Prepayments affect the estimated life of the loans and could change the amount of interest income, and possibly principal expected to be collected. In reforecasting future estimated cash flows, credit loss expectations are adjusted as necessary. Improved cash flow expectations for loans or pools are recorded first as a reversal of previously recorded impairment, if any, and then as an increase in prospective yield when all previously recorded impairment has been recaptured. Decreases in expected cash flows are recognized as an impairment through a provision for loan loss and an increase to the allowance for acquired loans. During the nine months ended September 30, 2016, there was an overall improvement in cash flow expectations which resulted in a net reclassification of $66.8 million from the non-accretable difference to accretable yield. This reclassification was $24.5 million for the nine months ended September 30, 2015. The reclassification from the non-accretable difference to the accretable yield results in prospective yield adjustments on the loan pools. The following table reflects amounts at acquisition for all purchased loans subject to ASC 310-30 (impaired and non-impaired loans with deteriorated credit quality) acquired from METR and Fifth Third. (in thousands) Acquired Acquired Performing Loans Total Contractually required cash flows at acquisition $ 99,611 $ 2,191,476 $ 2,291,087 Non-accretable difference (expected losses and foregone interest) (52,995 ) (264,233 ) (317,228 ) Cash flows expected to be collected at acquisition 46,616 1,927,243 1,973,859 Accretable yield (1,063 ) (307,248 ) (308,311 ) Basis in acquired loans at acquisition $ 45,553 $ 1,619,995 $ 1,665,548 In addition, loans purchased in the METR acquisition and Fifth Third branch purchase that were not subject to ASC 310-30 had the following balances at the date of acquisition: fair value of $292.3 million; unpaid principal balance of $315.1 million; and contractual cash flows not expected to be collected of $103.0 million. Credit Quality Management monitors the credit quality of the Corporation’s loan and lease portfolio. 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 originated loans 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 principal and interest is deemed uncollectible, 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: (dollars in thousands) September 30, 2016 December 31, Non-accrual loans $ 74,828 $ 49,897 Troubled debt restructurings 20,638 22,028 Total non-performing loans 95,466 71,925 Other real estate owned (OREO) 40,523 38,918 Total non-performing assets $ 135,989 $ 110,843 Asset quality ratios: Non-performing loans / total loans and leases 0.65 % 0.59 % Non-performing loans + OREO / total loans and leases + OREO 0.92 % 0.91 % Non-performing assets / of total assets 0.63 % 0.63 % 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 totaled $5.1 million at September 30, 2016 and $5.2 million at December 31, 2015. The recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process at September 30, 2016 and December 31, 2015 totaled $9.5 million and $11.7 million, respectively. 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: (in thousands) 30-89 Days Past ³ 90 Days Non- Accrual Total Past Due Current Total Loans and Originated Loans and Leases September 30, 2016 Commercial real estate $ 7,971 $ 1 $ 18,186 $ 26,158 $ 3,892,417 $ 3,918,575 Commercial and industrial 5,479 3 36,174 41,656 2,654,554 2,696,210 Commercial leases 1,106 — 3,359 4,465 190,806 195,271 Total commercial loans and leases 14,556 4 57,719 72,279 6,737,777 6,810,056 Direct installment 9,003 3,502 6,368 18,873 1,731,316 1,750,189 Residential mortgages 9,550 2,454 3,106 15,110 1,340,366 1,355,476 Indirect installment 6,468 467 1,741 8,676 1,141,899 1,150,575 Consumer lines of credit 3,467 408 1,564 5,439 1,083,368 1,088,807 Other 27 71 1,000 1,098 50,084 51,182 Total originated loans and leases $ 43,071 $ 6,906 $ 71,498 $ 121,475 $ 12,084,810 $ 12,206,285 December 31, 2015 Commercial real estate $ 11,006 $ 1 $ 23,503 $ 34,510 $ 3,496,636 $ 3,531,146 Commercial and industrial 5,409 3 14,382 19,794 2,514,557 2,534,351 Commercial leases 924 — 659 1,583 202,970 204,553 Total commercial loans and leases 17,339 4 38,544 55,887 6,214,163 6,270,050 Direct installment 9,254 3,813 4,806 17,873 1,642,844 1,660,717 Residential mortgages 8,135 1,470 2,882 12,487 1,032,202 1,044,689 Indirect installment 9,472 379 1,361 11,212 984,963 996,175 Consumer lines of credit 2,410 1,189 1,181 4,780 1,017,050 1,021,830 Other 73 169 — 242 38,276 38,518 Total originated loans and leases $ 46,683 $ 7,024 $ 48,774 $ 102,481 $ 10,929,498 $ 11,031,979 (in thousands) 30-89 Days Past Due ³ 90 Days and Still Non- Accrual Total Past Due (1) (2) Current Discount Total Loans Acquired Loans September 30, 2016 Commercial real estate $ 14,576 $ 25,048 $ 1,754 $ 41,378 $ 1,489,415 $ (82,077 ) $ 1,448,716 Commercial and industrial 1,283 2,941 1,153 5,377 418,122 (31,304 ) 392,195 Total commercial loans 15,859 27,989 2,907 46,755 1,907,537 (113,381 ) 1,840,911 Direct installment 2,712 947 — 3,659 81,332 2,215 87,206 Residential mortgages 8,224 12,625 — 20,849 442,023 (38,481 ) 424,391 Indirect installment 4 3 — 7 169 61 237 Consumer lines of credit 2,288 1,020 423 3,731 215,455 (4,770 ) 214,416 Total acquired loans $ 29,087 $ 42,584 $ 3,330 $ 75,001 $ 2,646,516 $ (154,356 ) $ 2,567,161 December 31, 2015 Commercial real estate $ 6,399 $ 12,752 $ 931 $ 20,082 $ 593,128 $ (35,300 ) $ 577,910 Commercial and industrial 1,065 616 103 1,784 72,037 (6,450 ) 67,371 Total commercial loans 7,464 13,368 1,034 21,866 665,165 (41,750 ) 645,281 Direct installment 837 659 — 1,496 43,596 827 45,919 Residential mortgages 5,871 15,136 — 21,007 366,742 (36,467 ) 351,282 Indirect installment 32 9 — 41 571 (58 ) 554 Consumer lines of credit 830 546 89 1,465 117,443 (3,483 ) 115,425 Total acquired loans $ 15,034 $ 29,718 $ 1,123 $ 45,875 $ 1,193,517 $ (80,931 ) $ 1,158,461 (1) Past due information for acquired loans is based on the contractual balance outstanding at September 30, 2016 and December 31, 2015. (2) Acquired loans are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, as long as the Corporation can reasonably estimate the timing and amount of expected cash flows on such loans. In these instances, 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. Acquired loans are considered non-accrual or non-performing when, due to credit deterioration or other factors, the Corporation determines it is no longer able to reasonably estimate the timing and amount of expected cash flows on such loans. The Corporation does not recognize interest income on acquired loans considered non-accrual or non-performing. 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 (in thousands) Pass Special Substandard Doubtful Total Originated Loans and Leases September 30, 2016 Commercial real estate $ 3,737,877 $ 120,184 $ 59,964 $ 550 $ 3,918,575 Commercial and industrial 2,466,207 85,586 135,322 9,095 2,696,210 Commercial leases 186,357 4,446 4,468 — 195,271 Total originated commercial loans and leases $ 6,390,441 $ 210,216 $ 199,754 $ 9,645 $ 6,810,056 December 31, 2015 Commercial real estate $ 3,416,527 $ 52,887 $ 61,411 $ 321 $ 3,531,146 Commercial and industrial 2,335,103 109,539 87,380 2,329 2,534,351 Commercial leases 198,207 2,447 3,899 — 204,553 Total originated commercial loans and leases $ 5,949,837 $ 164,873 $ 152,690 $ 2,650 $ 6,270,050 Acquired Loans September 30, 2016 Commercial real estate $ 1,249,051 $ 75,085 $ 123,560 $ 1,020 $ 1,448,716 Commercial and industrial 336,545 13,110 42,024 516 392,195 Total acquired commercial loans $ 1,585,596 $ 88,195 $ 165,584 $ 1,536 $ 1,840,911 December 31, 2015 Commercial real estate $ 464,162 $ 47,619 $ 66,129 — $ 577,910 Commercial and industrial 56,446 3,182 7,743 — 67,371 Total acquired commercial loans $ 520,608 $ 50,801 $ 73,872 — $ 645,281 Credit quality information for acquired loans is based on the contractual balance outstanding at September 30, 2016 and December 31, 2015. The increase in acquired loans in 2016 relates to the METR acquisition completed on February 13, 2016. 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: Originated Consumer Loan Credit Quality by Payment Status (in thousands) Performing Non-Performing Total September 30, 2016 Direct installment $ 1,735,117 $ 15,072 $ 1,750,189 Residential mortgages 1,342,077 13,399 1,355,476 Indirect installment 1,148,649 1,926 1,150,575 Consumer lines of credit 1,086,167 2,640 1,088,807 Other 51,182 — 51,182 Total originated consumer loans $ 5,363,192 $ 33,037 $ 5,396,229 December 31, 2015 Direct installment $ 1,646,925 $ 13,792 $ 1,660,717 Residential mortgages 1,031,926 12,763 1,044,689 Indirect installment 994,661 1,514 996,175 Consumer lines of credit 1,019,783 2,047 1,021,830 Other 38,518 — 38,518 Total originated consumer loans $ 4,731,813 $ 30,116 $ 4,761,929 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 $500,000 based on loan and lease segment loss given default. For commercial loan relationships greater than or equal to $500,000, 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, except for those loans 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: (in thousands) Unpaid Principal Balance Recorded Investment Reserve Recorded Investment Specific Reserve Total Recorded Investment Specific Average Recorded Investment At or for the Nine Months Ended September 30, 2016 Commercial real estate $ 20,836 $ 15,057 $ 3,214 $ 18,271 $ 550 $ 21,677 Commercial and industrial 41,296 18,654 17,028 35,682 9,095 31,603 Commercial leases 3,359 3,359 — 3,359 — 1,514 Total commercial loans and leases 65,491 37,070 20,242 57,312 9,645 54,794 Direct installment 16,465 15,072 — 15,072 — 14,972 Residential mortgages 14,049 13,399 — 13,399 — 13,164 Indirect installment 4,668 1,926 — 1,926 — 1,846 Consumer lines of credit 3,413 2,640 — 2,640 — 2,825 Total $ 104,086 $ 70,107 $ 20,242 $ 90,349 $ 9,645 $ 87,601 At or for the Year Ended December 31, 2015 Commercial real estate $ 33,780 $ 24,423 $ 772 $ 25,195 $ 321 $ 26,143 Commercial and industrial 15,860 9,176 5,543 14,719 2,329 12,298 Commercial leases 659 659 — 659 — 747 Total commercial loans and leases 50,299 34,258 6,315 40,573 2,650 39,188 Direct installment 14,679 13,792 — 13,792 — 13,267 Residential mortgages 13,394 12,763 — 12,763 — 12,896 Indirect installment 3,745 1,514 — 1,514 — 1,401 Consumer lines of credit 2,408 2,047 — 2,047 — 2,198 Total $ 84,525 $ 64,374 $ 6,315 $ 70,689 $ 2,650 $ 68,950 Interest income is generally no longer recognized once a loan becomes impaired. The above tables do not reflect the additional allowance for credit losses relating to acquired loans in the following pools and categories: (in thousands) September 30, December 31, Commercial real estate $ 3,631 $ 3,073 Commercial and industrial 493 695 Total commercial loans 4,124 3,768 Direct installment 1,110 1,557 Residential mortgages 659 659 Indirect installment 221 221 Consumer lines of credit 267 522 Total $ 6,381 $ 6,727 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 originated TDRs: (in thousands) September 30, 2016 December 31, Accruing: Performing $ 17,030 $ 15,165 Non-performing 20,638 22,028 Non-accrual 9,307 8,307 Total TDRs $ 46,975 $ 45,500 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 nine months ended September 30, 2016, the Corporation returned to performing status $4.9 million in restructured residential mortgage loans that have consistently met their modified obligations for more than nine 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 nine 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 $500,000 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 and pooled reserves for individual loans under $500,000 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. The reserve for commercial TDRs included in the allowance for credit losses are as follows: (in thousands) September 30, 2016 December 31, Specific reserves $ 608 $ 300 Pooled reserves for individual loans under $500 302 929 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 $3.6 million and $3.5 million at September 30, 2016 and December 31, 2015, 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 originated loans, by class, that have been restructured: Three Months Ended September 30, 2016 Nine Months Ended September 30, 2016 (dollars in thousands) 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 — $ — $ — 4 $ 778 $ 737 Commercial and industrial 3 1,504 1,504 3 1,727 1,504 Total commercial loans 3 1,504 1,504 7 2,505 2,241 Direct installment 123 1,029 1,018 388 5,051 4,749 Residential mortgages 9 508 532 36 1,946 1,893 Indirect installment 9 23 22 14 40 40 Consumer lines of credit 20 395 364 56 878 837 Total 164 $ 3,459 $ 3,440 501 $ 10,420 $ 9,760 Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 (dollars in thousands) 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 $ 168 Commercial and industrial — — — 1 5 4 Total commercial loans — — — 3 317 172 Direct installment 121 1,757 1,726 361 5,064 4,835 Residential mortgages 10 232 233 31 1,048 1,074 Indirect installment 3 13 10 13 43 40 Consumer lines of credit 10 146 143 40 666 610 Total 144 $ 2,148 $ 2,112 448 $ 7,138 $ 6,731 Following is a summary of originated TDRs, by class, 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 September 30, 2016 Nine Months Ended September 30, 2016 (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial real estate — $ — — $ — Commercial and industrial — — — — Total commercial loans — — — — Direct installment 26 408 76 377 Residential mortgages 5 189 7 282 Indirect installment 6 19 12 19 Consumer lines of credit 1 25 3 91 Total 38 $ 641 98 $ 769 Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial real estate — $ — — $ — Commercial and industrial — — 1 204 Total commercial loans — — 1 204 Direct installment 22 87 75 254 Residential mortgages 2 75 5 179 Indirect installment 1 6 6 12 Consumer lines of credit — — 1 8 Other — — — — Total 25 $ 168 88 $ 657 |
Allowance for Credit Losses
Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Allowance for Credit Losses | 6. ALLOWANCE FOR CREDIT LOSSES The allowance for credit losses addresses credit losses inherent in the existing loan and lease portfolio and is presented as a reserve against loans and leases on the consolidated balance sheets. Loan and lease losses are charged off against the allowance for credit losses, with recoveries of amounts previously charged off credited to the allowance for credit losses. Provisions for credit losses are charged to operations based on management’s periodic evaluation of the adequacy of the allowance for credit losses. Following is a summary of changes in the allowance for credit losses, by loan and lease class: (in thousands) Balance at Beginning of Charge- Recoveries Net Charge- Provision Balance at End of Three Months Ended September 30, 2016 Commercial real estate $ 44,428 $ (3,537 ) $ 1,810 $ (1,727 ) $ (334 ) $ 42,367 Commercial and industrial 51,475 (6,753 ) 598 (6,155 ) 8,388 53,708 Commercial leases 3,047 (100 ) 3 (97 ) 257 3,207 Total commercial loans and leases 98,950 (10,390 ) 2,411 (7,979 ) 8,311 99,282 Direct installment 21,543 (2,464 ) 545 (1,919 ) 1,463 21,087 Residential mortgages 8,410 (144 ) 11 (133 ) 969 9,246 Indirect installment 9,543 (1,781 ) 617 (1,164 ) 1,983 10,362 Consumer lines of credit 9,149 (459 ) 82 (377 ) 499 9,271 Other 1,124 (709 ) 3 (706 ) 847 1,265 Total allowance on originated loans and leases 148,719 (15,947 ) 3,669 (12,278 ) 14,072 150,513 Purchased credit-impaired loans 632 — 42 42 (102 ) 572 Other acquired loans 5,018 (240 ) 362 122 669 5,809 Total allowance on acquired loans 5,650 (240 ) 404 164 567 6,381 Total $ 154,369 $ (16,187 ) $ 4,073 $ (12,114 ) $ 14,639 $ 156,894 Nine Months Ended September 30, 2016 Commercial real estate $ 41,741 $ (5,572 ) $ 3,516 $ (2,056 ) $ 2,682 $ 42,367 Commercial and industrial 41,023 (12,722 ) 978 (11,744 ) 24,429 53,708 Commercial leases 2,541 (817 ) 49 (768 ) 1,434 3,207 Total commercial loans and leases 85,305 (19,111 ) 4,543 (14,568 ) 28,545 99,282 Direct installment 21,587 (7,552 ) 1,453 (6,099 ) 5,599 21,087 Residential mortgages 7,909 (301 ) 68 (233 ) 1,570 9,246 Indirect installment 9,889 (5,486 ) 1,545 (3,941 ) 4,414 10,362 Consumer lines of credit 9,582 (1,461 ) 187 (1,274 ) 963 9,271 Other 1,013 (1,988 ) 35 (1,953 ) 2,205 1,265 Total allowance on originated loans and leases 135,285 (35,899 ) 7,831 (28,068 ) 43,296 150,513 Purchased credit-impaired loans 834 (399 ) 42 (357 ) 95 572 Other acquired loans 5,893 (687 ) 947 260 (344 ) 5,809 Total allowance on acquired loans 6,727 (1,086 ) 989 (97 ) (249 ) 6,381 Total $ 142,012 $ (36,985 ) $ 8,820 $ (28,165 ) $ 43,047 $ 156,894 (in thousands) Balance at Beginning of Charge- Recoveries Net Charge- Provision Balance at End of Three Months Ended September 30, 2015 Commercial real estate $ 39,872 $ (1,259 ) $ 370 $ (889 ) $ 2,870 $ 41,853 Commercial and industrial 32,305 (584 ) 290 (294 ) 3,223 35,234 Commercial leases 2,223 (124 ) 50 (74 ) 265 2,414 Total commercial loans and leases 74,400 (1,967 ) 710 (1,257 ) 6,358 79,501 Direct installment 22,279 (2,722 ) 565 (2,157 ) 1,214 21,336 Residential mortgages 8,579 (268 ) 14 (254 ) 341 8,666 Indirect installment 8,909 (1,650 ) 264 (1,386 ) 2,090 9,613 Consumer lines of credit 9,118 (472 ) 56 (416 ) 871 9,573 Other 911 (402 ) 8 (394 ) 413 930 Total allowance on originated loans and leases 124,196 (7,481 ) 1,617 (5,864 ) 11,287 129,619 Purchased credit-impaired loans 658 — — — 36 695 Other acquired loans 6,287 (153 ) 282 129 (546 ) 5,869 Total allowance on acquired loans 6,945 (153 ) 282 129 (510 ) 6,564 Total $ 131,141 $ (7,634 ) $ 1,899 $ (5,735 ) $ 10,777 $ 136,183 Nine Months Ended September 30, 2015 Commercial real estate $ 37,588 $ (3,237 ) $ 779 $ (2,458 ) $ 6,723 $ 41,853 Commercial and industrial 32,645 (2,684 ) 1,386 (1,298 ) 3,887 35,234 Commercial leases 2,398 (328 ) 95 (233 ) 249 2,414 Total commercial loans and leases 72,631 (6,249 ) 2,260 (3,989 ) 10,859 79,501 Direct installment 20,538 (8,108 ) 1,131 (6,977 ) 7,775 21,336 Residential mortgages 8,024 (891 ) 53 (838 ) 1,480 8,666 Indirect installment 7,504 (4,433 ) 898 (3,535 ) 5,644 9,613 Consumer lines of credit 8,496 (1,205 ) 132 (1,073 ) 2,150 9,573 Other 759 (1,062 ) 44 (1,018 ) 1,189 930 Total allowance on originated loans and leases 117,952 (21,948 ) 4,518 (17,430 ) 29,097 129,619 Purchased credit-impaired loans 660 (64 ) 19 (45 ) 80 695 Other acquired loans 7,314 (698 ) 653 (45 ) (1,400 ) 5,869 Total allowance on acquired loans 7,974 (762 ) 672 (90 ) (1,320 ) 6,564 Total $ 125,926 $ (22,710 ) $ 5,190 $ (17,520 ) $ 27,777 $ 136,183 Following is a summary of the individual and collective originated allowance for credit losses and corresponding loan and lease balances by class: Originated Allowance Originated Loans and Leases Outstanding (in thousands) Individually Evaluated for Impairment Collectively Evaluated for Impairment Loans and Individually Evaluated for Impairment Collectively Evaluated for Impairment September 30, 2016 Commercial real estate $ 550 $ 41,817 $ 3,918,575 $ 13,736 $ 3,904,839 Commercial and industrial 9,095 44,613 2,696,210 33,895 2,662,315 Commercial leases — 3,207 195,271 — 195,271 Total commercial loans and leases 9,645 89,637 6,810,056 47,631 6,762,425 Direct installment — 21,087 1,750,189 — 1,750,189 Residential mortgages — 9,246 1,355,476 — 1,355,476 Indirect installment — 10,362 1,150,575 — 1,150,575 Consumer lines of credit — 9,271 1,088,807 — 1,088,807 Other — 1,265 51,182 — 51,182 Total $ 9,645 $ 140,868 $ 12,206,285 $ 47,631 $ 12,158,654 December 31, 2015 Commercial real estate $ 321 $ 41,420 $ 3,531,146 $ 12,904 $ 3,518,242 Commercial and industrial 2,329 38,694 2,534,351 10,802 2,523,549 Commercial leases — 2,541 204,553 — 204,553 Total commercial loans and leases 2,650 82,655 6,270,050 23,706 6,246,344 Direct installment — 21,587 1,660,717 — 1,660,717 Residential mortgages — 7,909 1,044,689 — 1,044,689 Indirect installment — 9,889 996,175 — 996,175 Consumer lines of credit — 9,582 1,021,830 — 1,021,830 Other — 1,013 38,518 — 38,518 Total $ 2,650 $ 132,635 $ 11,031,979 $ 23,706 $ 11,008,273 |
Borrowings
Borrowings | 9 Months Ended |
Sep. 30, 2016 | |
Debt Disclosure [Abstract] | |
Borrowings | 7. BORROWINGS Following is a summary of short-term borrowings: (in thousands) September 30, 2016 December 31, Securities sold under repurchase agreements $ 310,787 $ 266,732 Federal Home Loan Bank advances 925,000 1,090,000 Federal funds purchased 872,000 568,000 Subordinated notes 128,318 124,164 Total short-term borrowings $ 2,236,105 $ 2,048,896 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: (in thousands) September 30, 2016 December 31, Federal Home Loan Bank advances $ 355,122 $ 400,017 Subordinated notes 85,188 84,668 Junior subordinated debt 48,591 58,298 Other subordinated debt 98,599 98,497 Total long-term borrowings $ 587,500 $ 641,480 The Corporation’s banking affiliate has available credit with the FHLB of $5.7 billion of which $1.3 billion was used as of September 30, 2016. 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 0.95% to 4.19% for the nine months ended September 30, 2016 and 0.76% to 4.19% for the year ended December 31, 2015. The junior subordinated debt is comprised of debt securities issued by the Corporation in relation to its two unconsolidated subsidiary trusts (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, or trust preferred 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 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 junior 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 junior subordinated debt. The TPS are eligible for redemption, at any time, at the Corporation’s discretion. Under capital guidelines, beginning in 2016, the entire balance of TPS is 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. During the first quarter of 2016, the Corporation redeemed $10.0 million of the TPS issued by Omega Financial Capital Trust I. The following table provides information relating to the Trusts as of September 30, 2016: (dollars in thousands) 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 2.50 % Variable; 3-month LIBOR + 165 basis points (bps) Omega Financial Capital Trust I 26,000 1,114 26,426 10/18/34 2.87 % Variable; 3-month LIBOR + 219 bps Total $ 47,500 $ 1,779 $ 48,591 |
Derivative and Hedging Activiti
Derivative and Hedging Activities | 9 Months Ended |
Sep. 30, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative and Hedging Activities | 8. 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 sheets 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 sheets under other assets and derivative liabilities are classified in the consolidated balance sheets 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: September 30, 2016 December 31, 2015 Notional Fair Value Notional Fair Value (in thousands) Amount Asset Liability Amount Asset Liability Gross Derivatives Subject to master netting arrangements: Interest rate contracts – designated $ 450,000 $ 9,938 $ 1,167 $ 250,000 $ 3,178 $ 962 Interest rate swaps – not designated 1,614,449 — 91,949 1,262,964 1 50,491 Equity contracts – not designated 1,180 43 — 1,180 18 — Total subject to master netting arrangements 2,065,629 9,981 93,116 1,514,144 3,197 51,453 Not subject to master netting arrangements: Interest rate swaps – not designated 1,614,449 90,989 — 1,262,964 49,998 1 Credit risk contracts – not designated 171,072 57 355 114,753 7 133 Equity contracts – not designated 1,180 — 43 1,180 — 18 Total not subject to master netting arrangements 1,786,701 91,046 398 1,378,897 50,005 152 Total $ 3,852,330 $ 101,027 $ 93,514 $ 2,893,041 $ 53,202 $ 51,605 Derivatives Designated as Hedging Instruments under GAAP Interest Rate Contracts Following is a summary of key data related to interest rate contracts: (in thousands) September 30, 2016 December 31, Notional amount $ 450,000 $ 250,000 Fair value included in other assets 9,938 3,178 Fair value included in other liabilities 1,167 962 The following table shows amounts reclassified from accumulated other comprehensive income (AOCI) for the nine months ended September 30, 2016: (in thousands) Total Net of Tax Reclassified from AOCI to interest income $ 2,030 $ 1,319 Reclassified from AOCI to interest expense 554 360 As of September 30, 2016, the maximum length of time over which forecasted interest cash flows are hedged is seven years. In the twelve months that follow September 30, 2016, the Corporation expects to reclassify from the amount currently reported in AOCI net derivative gains of $1.9 million ($1.2 million net of tax), in association with interest on the hedged loans and FHLB advances. 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 September 30, 2016. There were no components of derivative gains or losses excluded from the assessment of hedge effectiveness related to these cash flow hedges. For the nine months ended September 30, 2016 and 2015, there was no hedge ineffectiveness. Also, during the nine months ended September 30, 2016 and 2015, 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. Following is a summary of key data related to interest rate swaps: (in thousands) September 30, 2016 December 31, Notional amount $ 1,614,449 $ 1,262,964 Fair value included in other assets 90,989 49,999 Fair value included in other liabilities 91,949 50,492 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 sheets 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 $120.5 million as of September 30, 2016 have remaining terms ranging from six months to fourteen years. Under these agreements, the Corporation’s maximum exposure assuming a customer defaults on their obligation to perform under certain derivative swap contracts with third parties would be $0.4 million at September 30, 2016 and $0.1 million at December 31, 2015. The fair values of risk participation agreements purchased and sold were not material at September 30, 2016 and December 31, 2015. 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 $1.1 million and $1.3 million as of September 30, 2016 and December 31, 2015, 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: (in thousands) Gross Amount Gross Net Amount September 30, 2016 Derivative Assets Subject to master netting arrangements: Interest rate contracts Designated $ 9,938 — $ 9,938 Not designated — — — Equity contracts – not designated 43 — 43 Not subject to master netting arrangements: Interest rate contracts – not designated 90,989 — 90,989 Credit contracts – not designated 57 — 57 Total derivative assets $ 101,027 — $ 101,027 Derivative Liabilities Subject to master netting arrangements: Interest rate contracts Designated $ 1,167 — $ 1,167 Not designated 91,949 — 91,949 Not subject to master netting arrangements: Interest rate contracts – not designated — — — Credit contracts – not designated 355 — 355 Equity contracts – not designated 43 — 43 Total derivative liabilities $ 93,514 — $ 93,514 December 31, 2015 Derivative Assets Subject to master netting arrangements: Interest rate contracts Designated $ 3,178 — $ 3,178 Not designated 1 — 1 Equity contracts – not designated 18 — 18 Not subject to master netting arrangements: Interest rate contracts – not designated 49,998 — 49,998 Credit contracts – not designated 7 7 Total derivative assets $ 53,202 — $ 53,202 Gross Gross Net Amount Derivative Liabilities Subject to master netting arrangements: Interest rate contracts Designated $ 962 — $ 962 Not designated 50,491 — 50,491 Not subject to master netting arrangements: Interest rate contracts – not designated 1 — 1 Credit contracts – not designated 133 133 Equity contracts – not designated 18 — 18 Total derivative liabilities $ 51,605 — $ 51,605 The following table presents a reconciliation of the net amounts of derivative assets and derivative liabilities presented in the balance sheets to the net amounts that would result in the event of offset: Amount Not Offset in the (in thousands) Net Amount the Balance Sheet Financial Cash Net Amount September 30, 2016 Derivative Assets Interest rate contracts: Designated $ 9,938 $ 5,578 $ 4,360 — Not designated — — — — Equity contracts – not designated 43 43 — — Total $ 9,981 $ 5,621 $ 4,360 — Derivative Liabilities Interest rate contracts: Designated $ 1,167 $ — $ 1,167 $ — Not designated 91,949 29,605 61,281 1,063 Total $ 93,116 $ 29,605 $ 62,448 $ 1,063 December 31, 2015 Derivative Assets Interest rate contracts: Designated $ 3,178 $ 1,516 $ 1,662 — Not designated 1 1 — — Equity contracts – not designated 18 18 — — Total $ 3,197 $ 1,535 $ 1,662 — Derivative Liabilities Interest rate contracts: Designated $ 962 $ 792 $ 170 $ — Not designated 50,491 24,579 24,632 1,280 Total $ 51,453 $ 25,371 $ 24,802 $ 1,280 The following table presents the effect of certain of the Corporation’s derivative financial instruments on the income statement: Nine Months Ended (in thousands) Income Statement Location 2016 2015 Interest Rate Contracts Interest income - loans and leases $ 2,030 $ 2,440 Interest Rate Contracts Interest expense – short-term borrowings 554 115 Interest Rate Swaps Other income (467 ) (364 ) Credit Risk Contracts Other income (172 ) (180 ) 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 September 30, 2016 and December 31, 2015 are not material. |
Commitments, Credit Risk and Co
Commitments, Credit Risk and Contingencies | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Credit Risk and Contingencies | 9. 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 sheets. 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: (in thousands) September 30, 2016 December 31, 2015 Commitments to extend credit $ 4,530,815 $ 3,781,719 Standby letters of credit 128,264 92,979 At September 30, 2016, funding of 73.9% 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 actively monitored through the review of historical performance of the Corporation’s portfolios. In addition, subordinated notes issued by a wholly-owned finance subsidiary of the Corporation are fully and unconditionally guaranteed by the Corporation. Other Legal Proceedings In the ordinary course of business, the Corporation and its subsidiaries are routinely named as defendants in, or made parties to, pending and potential legal actions. Also, as regulated entities, the Corporation and its subsidiaries are subject to governmental and regulatory examinations, information-gathering requests, investigations and proceedings (both formal and informal). Claims for significant monetary damages may be asserted in many of these types of legal actions, while claims for disgorgement, restitution, penalties and/or other remedial actions or sanctions may be sought in regulatory matters. It is inherently difficult to predict the eventual outcomes of such matters given their complexity and the particular facts and circumstances at issue in each of these matters. However, on the basis of current knowledge and understanding, and advice of counsel, the Corporation does not believe that judgments, sanctions, settlements or orders, if any, that may arise from these matters (either individually or in the aggregate, after giving effect to applicable reserves and insurance coverage) will have a material adverse effect on the consolidated financial position or liquidity of the Corporation, although they could have a material effect on net income in a given period. In view of the inherent unpredictability of outcomes in litigation and governmental and regulatory matters, particularly where (i) the damages sought are indeterminate, (ii) the proceedings are in the early stages, or (iii) the matters involve novel legal theories or a large number of parties, as a matter of course, there is considerable uncertainty surrounding the timing or ultimate resolution of litigation and governmental and regulatory matters, including a possible eventual loss, fine, penalty, business or reputational impact, if any, associated with each such matter. In accordance with applicable accounting guidance, the Corporation establishes accruals for litigation and governmental and regulatory matters when those matters proceed to a stage where they present loss contingencies that are both probable and reasonably estimable. In such cases, there may be a possible exposure to loss in excess of any amounts accrued. The Corporation will continue to monitor such matters for developments that could affect the amount of the accrual, and will adjust the accrual amount as appropriate. If the loss contingency in question is not both probable and reasonably estimable, the Corporation does not establish an accrual and the matter will continue to be monitored for any developments that would make the loss contingency both probable and reasonably estimable. The Corporation believes that its accruals for legal proceedings are appropriate and, in the aggregate, are not material to the consolidated financial position of the Corporation, although future accruals could have a material effect on net income in a given period. |
Stock Incentive Plans
Stock Incentive Plans | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Incentive Plans | 10. 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. The Corporation issued 277,174 and 139,046 performance-based restricted stock units during the first nine months of 2016 and 2015, respectively. Recipients will earn shares, totaling between 0% and 175% of the number of units issued, 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. Prior to 2014, more than half of the restricted stock awards granted to management were earned if the Corporation met or exceeded certain financial performance results when compared to its peers. These performance-related awards were expensed ratably from the date that the likelihood of meeting the performance measure was probable through the end of a four-year vesting period. The service-based awards were expensed ratably over a three-year vesting period. The Corporation also issued discretionary service-based awards to certain employees that vested over five years. For the nine months ended September 30, 2016 and 2015, the Corporation issued 574,125 and 402,947 restricted stock awards, respectively, with aggregated grant date fair values of $7.4 million and $5.3 million under these plans. As of September 30, 2016, the Corporation had available up to 3,248,296 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. The following table summarizes the activity relating to restricted stock awards during the periods indicated: Nine Months Ended September 30, 2016 2015 Awards Weighted Average Grant Awards Weighted Average Grant Unvested awards outstanding at beginning of period 1,548,444 $ 12.85 1,354,093 $ 11.86 Granted 574,125 12.86 402,947 13.16 Net adjustment due to performance — — 8,884 22.73 Vested (374,579 ) 12.11 (471,997 ) 10.66 Forfeited (21,486 ) 12.98 (29,428 ) 13.46 Dividend reinvestment 44,534 12.25 30,551 11.32 Unvested awards outstanding at end of period 1,771,038 13.00 1,295,050 12.73 The following table provides certain information related to restricted stock awards: (in thousands) Nine Months Ended September 30, 2016 2015 Stock-based compensation expense $ 4,644 $ 3,287 Tax benefit related to stock-based compensation expense 1,625 1,150 Fair value of awards vested 4,563 5,912 As of September 30, 2016, there was $11.7 million of unrecognized compensation cost related to unvested restricted stock awards, including $0.5 million 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 (dollars in thousands) Service- Awards Performance- Based Awards Total Unvested restricted stock awards 852,788 918,250 1,771,038 Unrecognized compensation expense $ 5,520 $ 6,147 $ 11,667 Intrinsic value $ 10,489 $ 11,295 $ 21,784 Weighted average remaining life (in years) 2.04 2.15 2.10 Stock Options All outstanding stock options were assumed in connection with certain of the Corporation’s completed acquisitions and are fully vested. Upon consummation of those 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. The following table summarizes the activity relating to stock options during the periods indicated: Nine Months Ended September 30, 2016 2015 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options outstanding at beginning of period 435,340 $ 8.86 568,834 $ 8.86 Assumed from acquisitions 1,707,036 7.83 — — Exercised (352,094 ) 6.89 (88,899 ) 5.61 Forfeited (93,628 ) 6.74 (2,182 ) 4.34 Options outstanding and exercisable at end of period 1,696,654 8.35 477,753 9.48 The intrinsic value of outstanding and exercisable stock options at September 30, 2016 was $6.7 million. 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, was sold at auction by the UST and has an exercise price of $11.52 per share. 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 386,888, with a resulting lower exercise price of $3.16 per share as of September 30, 2016. The warrant, which was recorded at its fair value on April 6, 2013, was sold at auction by the UST and expires in 2019. |
Retirement Plans
Retirement Plans | 9 Months Ended |
Sep. 30, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Retirement Plans | 11. 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 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 Nine Months Ended (in thousands) 2016 2015 2016 2015 Service cost $ (4 ) $ 18 $ (12 ) $ 52 Interest cost 1,521 1,470 4,609 4,424 Expected return on plan assets (2,354 ) (2,491 ) (7,060 ) (7,473 ) Amortization: Unrecognized prior service cost 2 2 6 6 Unrecognized loss 584 518 1,800 1,590 Net periodic pension credit $ (251 ) $ (483 ) $ (657 ) $ (1,401 ) 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. The Corporation’s contribution expense was $6.9 million and $5.8 million for the nine months ended September 30, 2016 and 2015, 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. |
Comprehensive Income
Comprehensive Income | 9 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Comprehensive Income | 12. COMPREHENSIVE INCOME The components of comprehensive income, net of related tax, are as follows: Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Net income $ 52,168 $ 40,053 $ 119,600 $ 120,527 Other comprehensive income (loss): Securities available for sale: Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(1,535) $9,818 (2,851 ) 6,778 18,234 7,989 Reclassification adjustment for gains included in net income, net of tax expense of $105, , $209 (195 ) (204 ) (388 ) (207 ) Derivative instruments: Unrealized gains arising during the period, net of tax expense of $284, $2,811 528 3,099 5,221 4,295 Reclassification adjustment for gains included in net income, net of tax expense of $138, , $517 (256 ) (457 ) (960 ) (1,511 ) Pension and postretirement benefit obligations: Unrealized gains arising during the period, net of tax expense of $205, , $632 380 340 1,173 1,040 Other comprehensive (loss) income (2,394 ) 9,556 23,280 11,606 Comprehensive income $ 49,774 $ 49,609 $ 142,880 $ 132,133 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: (in thousands) Unrealized Net Gains (Losses) on Securities Available for Sale Unrealized Net Gains Derivative Instruments Unrecognized Postretirement Obligations Total Nine Months Ended September 30, 2016 Balance at beginning of period $ (3,873 ) $ 1,440 $ (48,700 ) $ (51,133 ) Other comprehensive income before reclassifications 18,234 5,221 1,173 24,628 Amounts reclassified from AOCI (388 ) (960 ) — (1,348 ) Net current period other comprehensive income 17,846 4,261 1,173 23,280 Balance at end of period $ 13,973 $ 5,701 $ (47,527 ) $ (27,853 ) |
Earnings per Common Share
Earnings per Common Share | 9 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share | 13. 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 September 30, Nine Months Ended September 30, ( 2016 2015 2016 2015 Net income $ 52,168 $ 40,053 $ 119,600 $ 120,527 Less: Preferred stock dividends 2,010 2,010 6,030 6,030 Net income available to common stockholders $ 50,158 $ 38,043 $ 113,570 $ 114,497 Basic weighted average common shares outstanding 210,306,834 175,343,789 204,687,092 174,816,692 Net effect of dilutive stock options, warrants, restricted stock and convertible debt 1,483,896 1,169,043 1,446,648 1,383,450 Diluted weighted average common shares outstanding 211,790,730 176,512,832 206,133,740 176,200,142 Earnings per common share: Basic $ 0.24 $ 0.22 $ 0.55 $ 0.65 Diluted $ 0.24 $ 0.22 $ 0.55 $ 0.65 The following table shows the average shares excluded from the above calculation as their effect would have been anti-dilutive: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Average shares excluded from the diluted earnings per common share calculation 14,859 19,385 14,041 20,440 |
Cash Flow Information
Cash Flow Information | 9 Months Ended |
Sep. 30, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
Cash Flow Information | 14. CASH FLOW INFORMATION Following is a summary of supplemental cash flow information: Nine Months Ended 2016 2015 (in thousands) Interest paid on deposits and other borrowings $ 48,315 $ 35,531 Income taxes paid 47,500 41,000 Transfers of loans to other real estate owned 13,055 6,901 Financing of other real estate owned sold 441 372 |
Business Segments
Business Segments | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
Business Segments | 15. 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 subordinated notes, which are issued by a wholly-owned subsidiary and guaranteed by the 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 financial statements. (in thousands) Community Wealth Management Insurance Consumer Parent Consolidated At or for the Three Months Ended September 30, 2016 Interest income $ 162,714 $ — $ 21 $ 10,260 $ 2,115 $ 175,110 Interest expense 14,791 — — 949 1,864 17,604 Net interest income 147,923 — 21 9,311 251 157,506 Provision for credit losses 12,766 — — 1,517 356 14,639 Non-interest income 40,760 8,835 3,847 728 (930 ) 53,240 Non-interest expense 101,744 6,619 3,249 5,328 539 117,479 Intangible amortization 3,422 65 84 — — 3,571 Income tax expense (benefit) 21,449 781 196 1,238 (775 ) 22,889 Net income (loss) 49,302 1,370 339 1,956 (799 ) 52,168 Total assets 21,383,500 19,490 21,464 191,524 (32,064 ) 21,583,914 Total intangibles 1,079,196 10,253 12,394 1,809 — 1,103,652 At or for the Three Months Ended September 30, 2015 Interest income $ 125,281 $ — $ 22 $ 10,096 $ 1,798 $ 137,197 Interest expense 10,473 — — 878 645 11,996 Net interest income 114,808 — 22 9,218 1,153 125,201 Provision for credit losses 8,702 — — 1,750 325 10,777 Non-interest income 29,667 8,682 3,602 716 (1,308 ) 41,359 Non-interest expense 80,906 6,703 3,201 4,983 322 96,115 Intangible amortization 1,824 69 141 — — 2,034 Income tax expense (benefit) 15,804 696 105 1,473 (497 ) 17,581 Net income (loss) 37,239 1,214 177 1,728 (305 ) 40,053 Total assets 16,658,489 21,099 22,201 187,721 (53,437 ) 16,836,073 Total intangibles 855,164 10,516 13,069 1,809 — 880,558 (in thousands) Community Wealth Management Insurance Consumer Parent Consolidated At or for the Nine Months Ended September 30, 2016 Interest income $ 465,592 $ — $ 64 $ 30,171 $ 5,968 $ 501,795 Interest expense 41,153 — — 2,820 5,593 49,566 Net interest income 424,439 — 64 27,351 375 452,229 Provision for credit losses 37,081 — — 4,515 1,451 43,047 Non-interest income 111,507 26,834 11,309 2,198 (1,153 ) 150,695 Non-interest expense 329,578 20,668 9,826 15,904 1,743 377,719 Intangible amortization 9,043 194 371 — — 9,608 Income tax expense (benefit) 48,850 2,168 430 3,558 (2,056 ) 52,950 Net income (loss) 111,394 3,804 746 5,572 (1,916 ) 119,600 Total assets 21,383,500 19,490 21,464 191,524 (32,064 ) 21,583,914 Total intangibles 1,079,196 10,253 12,394 1,809 — 1,103,652 At or for the Nine Months Ended September 30, 2015 Interest income $ 371,366 $ — $ 67 $ 29,467 $ 5,114 $ 406,014 Interest expense 30,580 — — 2,593 1,952 35,125 Net interest income 340,786 — 67 26,874 3,162 370,889 Provision for credit losses 21,974 — — 5,288 515 27,777 Non-interest income 85,281 26,268 9,948 2,124 (4,328 ) 119,293 Non-interest expense 236,324 20,127 10,952 14,785 967 283,155 Intangible amortization 5,601 205 342 — — 6,148 Income tax expense (benefit) 48,744 2,143 (433 ) 3,660 (1,539 ) 52,575 Net income (loss) 113,424 3,793 (846 ) 5,265 (1,109 ) 120,527 Total assets 16,658,489 21,099 22,201 187,721 (53,437 ) 16,836,073 Total intangibles 855,164 10,516 13,069 1,809 — 880,558 |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 16. 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 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 September 30, 2016, 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 were 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 September 30, 2016, 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 $500,000 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: (in thousands) Level 1 Level 2 Level 3 Total September 30, 2016 Assets Measured at Fair Value Debt securities available for sale: U.S. Treasury $ — $ 30,004 $ — $ 30,004 U.S. government-sponsored entities — 384,637 — 384,637 Residential mortgage-backed securities: Agency mortgage-backed securities — 1,056,651 — 1,056,651 Agency collateralized mortgage obligations — 554,723 — 554,723 Non-agency collateralized mortgage obligations — 3 932 935 Commercial mortgage-backed securities — 2,816 — 2,816 States of the U.S. and political subdivisions — 37,138 — 37,138 Other debt securities — 9,345 — 9,345 Total debt securities available for sale — 2,075,317 932 2,076,249 Equity securities available for sale: Financial services industry 121 672 436 1,229 Insurance services industry 138 — — 138 Total equity securities available for sale 259 672 436 1,367 Total securities available for sale 259 2,075,989 1,368 2,077,616 Derivative financial instruments: Trading — 91,032 — 91,032 Not for trading — 9,995 — 9,995 Total derivative financial instruments — 101,027 — 101,027 Total assets measured at fair value on a recurring basis $ 259 $ 2,177,016 $ 1,368 $ 2,178,643 Liabilities Measured at Fair Value Derivative financial instruments: Trading — $ 91,992 — $ 91,992 Not for trading — 1,522 — 1,522 Total liabilities measured at fair value on a recurring basis — $ 93,514 — $ 93,514 (in thousands) Level 1 Level 2 Level 3 Total December 31, 2015 Assets Measured at Fair Value Debt securities available for sale: U.S. Treasury $ — $ 29,796 $ — $ 29,796 U.S. government-sponsored entities — 367,994 — 367,994 Residential mortgage-backed securities: Agency mortgage-backed securities — 704,831 — 704,831 Agency collateralized mortgage obligations — 495,830 — 495,830 Non-agency collateralized mortgage obligations — 6 1,184 1,190 Commercial mortgage-backed securities — 4,287 — 4,287 States of the U.S. and political subdivisions — 11,057 — 11,057 Other debt securities — 14,286 — 14,286 Total debt securities available for sale — 1,628,087 1,184 1,629,271 Equity securities available for sale: Financial services industry 97 632 439 1,168 Insurance services industry 128 — — 128 Total equity securities available for sale 225 632 439 1,296 Total securities available for sale 225 1,628,719 1,623 1,630,567 Derivative financial instruments: Trading — 50,017 — 50,017 Not for trading — 3,185 — 3,185 Total derivative financial instruments — 53,202 — 53,202 Total assets measured at fair value on a recurring basis $ 225 $ 1,681,921 $ 1,623 $ 1,683,769 Liabilities Measured at Fair Value Derivative financial instruments: Trading — $ 50,510 — $ 50,510 Not for trading — 1,095 — 1,095 Total liabilities measured at fair value on a recurring basis — $ 51,605 — $ 51,605 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: (in thousands) Equity Residential Non-Agency Collateralized Mortgage Obligations Total Nine Months Ended September 30, 2016 Balance at beginning of period $ 439 $ 1,184 $ 1,623 Total gains (losses) – realized/unrealized: Included in earnings — — — Included in other comprehensive income (3 ) (12 ) (15 ) Accretion included in earnings — 5 5 Purchases, issuances, sales and settlements: Purchases — — — Issuances — — — Sales/redemptions — — — Settlements — (245 ) (245 ) Transfers from Level 3 — — — Transfers into Level 3 — — — Balance at end of period $ 436 $ 932 $ 1,368 Year Ended December 31, 2015 Balance at beginning of period $ 475 $ 1,420 $ 1,895 Total gains (losses) – realized/unrealized: Included in earnings — — — Included in other comprehensive income 20 (4 ) 16 Accretion included in earnings — 5 5 Purchases, issuances, sales and settlements: Purchases — — — Issuances — — — Sales/redemptions — — — Settlements — (237 ) (237 ) Transfers from Level 3 (56 ) — (56 ) Transfers into Level 3 — — — Balance at end of period $ 439 $ 1,184 $ 1,623 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 Available for Sale footnote in this section of this Report for information relating to determining Level 3 fair values. There were no transfers of assets or liabilities between the hierarchy levels during the first nine months of 2016. During 2015, the Corporation transferred an equity security totaling $56,000 to non-marketable equity securities, reflected in other assets on the Consolidated Balance Sheet. For the nine months ended September 30, 2016 and 2015, 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: (in thousands) Level 1 Level 2 Level 3 Total September 30, 2016 Impaired loans — $ 3,648 $ 7,869 $ 11,517 Other real estate owned — 3,720 3,379 7,099 December 31, 2015 Impaired loans — 124 3,704 3,828 Other real estate owned — 5,705 2,126 7,831 Substantially all of the fair value amounts in the table above were estimated at a date during the nine months or twelve months ended September 30, 2016 and December 31, 2015, 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 nine months ended September 30, 2016 had a carrying amount of $20.3 million and an allocated allowance for credit losses of $9.6 million. The allocated allowance is based on fair value of $11.5 million less estimated costs to sell of $0.8 million. The allowance for credit losses includes a provision applicable to the current period fair value measurements of $8.8 million, which was included in the provision for credit losses for the nine months ended September 30, 2016. OREO with a carrying amount of $8.2 million was written down to $6.3 million (fair value of $7.1 million less estimated costs to sell of $0.8 million), resulting in a loss of $1.9 million, which was included in earnings for the nine months ended September 30, 2016. 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. 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 (in thousands) Carrying Fair Value Level 1 Level 2 Level 3 September 30, 2016 Financial Assets Cash and cash equivalents $ 445,250 $ 445,250 $ 445,250 $ — $ — Securities available for sale 2,077,616 2,077,616 259 2,075,989 1,368 Securities held to maturity 2,249,245 2,278,755 — 2,276,875 1,880 Net loans and leases, including loans held for sale 14,634,414 14,618,539 — — 14,618,539 Derivative assets 101,027 101,027 — 101,027 — Accrued interest receivable 54,871 54,871 54,871 — — Financial Liabilities Deposits 15,976,884 15,985,704 13,414,297 2,571,407 — Short-term borrowings 2,236,105 2,236,341 2,236,341 — — Long-term borrowings 587,500 591,960 — — 591,960 Derivative liabilities 93,514 93,514 — 93,514 — Accrued interest payable 8,708 8,708 8,708 — — December 31, 2015 Financial Assets Cash and cash equivalents $ 489,119 $ 489,119 $ 489,119 $ — $ — Securities available for sale 1,630,567 1,630,567 225 1,628,719 1,623 Securities held to maturity 1,637,061 1,643,416 — 1,640,721 2,695 Net loans and leases, including loans held for sale 12,053,209 11,863,882 — — 11,863,882 Derivative assets 53,202 53,202 — 53,202 — Accrued interest receivable 44,920 44,920 44,920 — — Financial Liabilities Deposits 12,623,463 12,610,914 10,157,997 2,452,917 — Short-term borrowings 2,048,896 2,048,943 2,048,943 — — Long-term borrowings 641,480 637,935 — — 637,935 Derivative liabilities 51,605 51,605 — 51,605 — Accrued interest payable 7,457 7,457 7,457 — — |
Summary of Significant Accoun24
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
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 September 30, 2016 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 26, 2016. |
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, fair value measurements and income taxes. |
Business Combinations | Business Combinations Business combinations are accounted for by applying the acquisition method in accordance with Accounting Standards Codification (ASC) 805, Business Combinations. |
Cloud Computing Arrangements | Cloud Computing Arrangements Beginning in 2016, for new or materially modified contracts, the Corporation prospectively adopted new accounting principles to evaluate fees paid for cloud computing arrangements to determine if those arrangements include the purchase of or license to software that should be accounted for separately as internal-use software. If a contract includes the purchase or license to software that should be accounted for separately as internal-use software, the contract is amortized over the software’s identified useful life in amortization of intangibles. For contracts that do not include a software license, the contract is accounted for as a service contract with fees paid recorded in other non-interest expense. |
Stock Based Compensation | Stock Based Compensation The Corporation accounts for its stock based compensation awards in accordance with ASC 718, Compensation—Stock Compensation, ASC 718 requires companies to estimate the fair value of stock-based awards on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense in the Corporation’s consolidated statements of comprehensive income over the shorter of requisite service periods or the period through the date that the employee first becomes eligible to retire. Some of the Corporation’s plans contain performance targets that affect vesting and can be achieved after the requisite service period and are accounted for as performance conditions. Beginning in 2016, the performance target is not reflected in the estimation of the award’s grant date fair value and compensation cost is recognized in the period in which it becomes probable that the performance condition will be achieved. Because stock-based compensation expense is based on awards that are ultimately expected to vest, stock-based compensation expense has been reduced to account for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. |
Variable Interest Entities | Variable Interest Entities The Corporation has investments in certain partnerships and limited liability entities that qualify as variable interest entities (VIEs). These entities are evaluated on an on-going basis to determine whether they should be consolidated. Consolidation of a VIE is appropriate if a reporting entity holds a controlling financial interest in the VIE. The Corporation has determined that it does not hold a controlling financial interest in any of the VIEs and, therefore, the assets and liabilities of these entities are not consolidated into its financial statements. Instead, investments in these entities are accounted for under the equity method of accounting and are evaluated periodically for impairment. The recorded investment in these entities is reported in other assets on the consolidated balance sheets. |
Statement of Cash Flows | Statement of Cash Flows Accounting Standards Update (ASU or Update) 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force), |
Credit Losses | Credit Losses ASU 2016-13 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments |
Revenue Recognition | Revenue Recognition ASU 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients, ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing, ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net), ASU 2014-09, Revenue from Contracts with Customers (Topic 606), The guidance for these Revenue Recognition Updates is effective for annual periods beginning in the first quarter of 2018. Early application is permitted beginning in the first quarter of 2017. The Corporation is currently assessing the potential impact to its Consolidated Financial Statements. |
Investments | Investments ASU 2016-07, Investments—Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting, |
Derivative and Hedging Activities | Derivative and Hedging Activities ASU 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments (a consensus of the Emerging Issues Task Force), ASU 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (a consensus of the Emerging Issues Task Force), |
Extinguishments of Liabilities | Extinguishments of Liabilities ASU 2016-04, Liabilities—Extinguishments of Liabilities (Subtopic 405-20): Recognition of Breakage for Certain Prepaid Stored-Value Products (a consensus of the Emerging Issues Task Force), |
Leases | Leases ASU 2016-02, Leases (Topic 842), |
Financial Instruments - Recognition and Measurement | Financial Instruments – Recognition and Measurement ASU 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, |
ASU 2016-09 [Member] | |
Stock Based Compensation | Stock Based Compensation ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, |
Mergers and Acquisitions (Table
Mergers and Acquisitions (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Business Combinations [Abstract] | |
Business Acquisition Pro Forma Information | The following pro forma financial information for the nine months ended September 30, 2015 reflects the Corporation’s estimated consolidated pro forma results of operations as if the METR acquisition occurred on January 1, 2015, unadjusted for potential cost savings and other business synergies the Corporation expects to receive as a result of the acquisition: (dollars in thousands, except per share data) FNB METR Pro Forma Pro Revenue (net interest income and non-interest income) $ 490,182 $ 101,029 $ (3,183 ) $ 588,028 Net income 120,527 14,714 (6,011 ) 129,230 Net income available to common stockholders 114,497 14,654 (5,951 ) 123,200 Earnings per common share – basic 0.65 1.04 — 0.59 Earnings per common share – diluted 0.65 1.02 — 0.58 |
Amounts Recorded on Consolidated Balance Sheets in Conjunction with Acquisitions | The following table summarizes the amounts recorded on the consolidated balance sheets as of each of the acquisition dates in conjunction with the acquisitions discussed above: (in thousands) Fifth Third Branches METR BofA Branches Fair value of consideration paid $ — $ 404,031 $ — Fair value of identifiable assets acquired: Cash and cash equivalents 198,872 46,890 148,159 Securities — 722,980 — Loans 97,740 1,868,873 842 Core deposit intangibles 5,952 36,801 3,000 Other assets 14,069 123,055 1,133 Total identifiable assets acquired 316,633 2,798,599 153,134 Fair value of liabilities assumed: Deposits 302,529 2,328,238 154,619 Borrowings — 227,539 — Other liabilities 26,427 15,545 — Total liabilities assumed 328,956 2,571,322 154,619 Fair value of net identifiable assets acquired (12,323 ) 227,277 (1,485 ) Goodwill recognized (1) $ 12,323 $ 176,754 $ 1,485 (1) All of the goodwill for these transactions has been recorded by FNBPA. |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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: (in thousands) Amortized Cost Gross Gross Fair Value Securities Available for Sale September 30, 2016 U.S. Treasury $ 29,839 $ 165 $ — $ 30,004 U.S. government-sponsored entities 382,570 2,106 (39 ) 384,637 Residential mortgage-backed securities: Agency mortgage-backed securities 1,039,245 17,406 — 1,056,651 Agency collateralized mortgage obligations 552,974 3,517 (1,768 ) 554,723 Non-agency collateralized mortgage obligations 934 1 — 935 Commercial mortgage-backed securities 2,817 — (1 ) 2,816 States of the U.S. and political subdivisions 36,963 205 (30 ) 37,138 Other debt securities 9,803 122 (580 ) 9,345 Total debt securities 2,055,145 23,522 (2,418 ) 2,076,249 Equity securities 975 392 — 1,367 Total securities available for sale $ 2,056,120 $ 23,914 $ (2,418 ) $ 2,077,616 December 31, 2015 U.S. Treasury $ 29,738 $ 58 $ — $ 29,796 U.S. government-sponsored entities 368,463 856 (1,325 ) 367,994 Residential mortgage-backed securities: Agency mortgage-backed securities 703,069 4,594 (2,832 ) 704,831 Agency collateralized mortgage obligations 503,328 1,032 (8,530 ) 495,830 Non-agency collateralized mortgage obligations 1,177 13 — 1,190 Commercial mortgage-backed securities 4,299 — (12 ) 4,287 States of the U.S. and political subdivisions 10,748 309 — 11,057 Other debt securities 14,729 208 (651 ) 14,286 Total debt securities 1,635,551 7,070 (13,350 ) 1,629,271 Equity securities 975 324 (3 ) 1,296 Total securities available for sale $ 1,636,526 $ 7,394 $ (13,353 ) $ 1,630,567 |
Schedule of Amortized Cost and Fair Value of Securities Held to Maturity | Securities Held to Maturity September 30, 2016 U.S. Treasury $ 500 $ 192 $ — $ 692 U.S. government-sponsored entities 272,715 1,076 (196 ) 273,595 Residential mortgage-backed securities: Agency mortgage-backed securities 830,590 20,337 — 850,927 Agency collateralized mortgage obligations 787,120 3,927 (3,054 ) 787,993 Non-agency collateralized mortgage obligations 1,877 8 (5 ) 1,880 Commercial mortgage-backed securities 50,022 1,478 (120 ) 51,380 States of the U.S. and political subdivisions 306,421 6,558 (691 ) 312,288 Total securities held to maturity $ 2,249,245 $ 33,576 $ (4,066 ) $ 2,278,755 December 31, 2015 U.S. Treasury $ 500 $ 153 $ — $ 653 U.S. government-sponsored entities 137,385 809 (395 ) 137,799 Residential mortgage-backed securities: Agency mortgage-backed securities 709,970 9,858 (1,176 ) 718,652 Agency collateralized mortgage obligations 499,694 803 (7,657 ) 492,840 Non-agency collateralized mortgage obligations 2,681 14 — 2,695 Commercial mortgage-backed securities 51,258 115 (259 ) 51,114 States of the U.S. and political subdivisions 235,573 4,191 (101 ) 239,663 Total securities held to maturity $ 1,637,061 $ 15,943 $ (9,588 ) $ 1,643,416 |
Gross Gains and Gross Losses Realized on Sales of Securities | Gross gains and gross losses were realized on securities as follows: Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Gross gains $ 299 $ 314 $ 597 $ 328 Gross losses — — (1 ) (9 ) Net gains $ 299 $ 314 $ 596 $ 319 |
Amortized Cost and Fair Value of Securities, by Contractual Maturities | As of September 30, 2016, the amortized cost and fair value of securities, by contractual maturities, were as: Available for Sale Held to Maturity (in thousands) Amortized Fair Value Amortized Fair Value Due in one year or less $ 50,029 $ 50,221 $ 10,472 $ 10,486 Due from one to five years 377,561 379,721 254,105 255,091 Due from five to ten years 24,302 24,482 69,863 70,901 Due after ten years 7,283 6,700 245,196 250,097 459,175 461,124 579,636 586,575 Residential mortgage-backed securities: Agency mortgage-backed securities 1,039,245 1,056,651 830,590 850,927 Agency collateralized mortgage obligations 552,974 554,723 787,120 787,993 Non-agency collateralized mortgage obligations 934 935 1,877 1,880 Commercial mortgage-backed securities 2,817 2,816 50,022 51,380 Equity securities 975 1,367 — — Total securities $ 2,056,120 $ 2,077,616 $ 2,249,245 $ 2,278,755 |
Schedule of Securities Pledged as Collateral | Following is information relating to securities pledged: (dollars in thousands) September 30, December 31, Securities pledged (carrying value): Collateral for public deposits, trust deposits and for other purposes as required by law $ 2,876,304 $ 1,728,939 Collateral for short-term borrowings 332,095 272,629 Securities pledged as a percent of total securities 74.2 % 61.3 % |
Summaries of Fair Values and Unrealized Losses of Impaired Securities, Segregated by Length of Impairment | Following are summaries of the fair values and unrealized losses of impaired securities, segregated by length of impairment: Less than 12 Months 12 Months or More Total (dollars in thousands) # Fair Unrealized # Fair Value Unrealized # Fair Value Unrealized Securities Available for Sale September 30, 2016 U.S. government-sponsored entities 2 $ 39,961 $ (39 ) — $ — $ — 2 $ 39,961 $ (39 ) Residential mortgage-backed securities: Agency collateralized mortgage obligations 9 127,838 (290 ) 9 96,505 (1,478 ) 18 224,343 (1,768 ) Commercial mortgage-backed securities 1 2,817 (1 ) — — — 1 2,817 (1 ) States of the U.S. and political subdivisions 11 14,304 (30 ) — — — 11 14,304 (30 ) Other debt securities — — — 3 4,322 (580 ) 3 4,322 (580 ) Total impaired securities available for sale 23 $ 184,920 $ (360 ) 12 $ 100,827 $ (2,058 ) 35 $ 285,747 $ (2,418 ) December 31, 2015 U.S. government-sponsored entities 6 $ 99,131 $ (814 ) 2 $ 34,487 $ (511 ) 8 $ 133,618 $ (1,325 ) Residential mortgage-backed securities: Agency mortgage-backed securities 19 359,250 (2,832 ) — — — 19 359,250 (2,832 ) Agency collateralized mortgage obligations 9 126,309 (1,366 ) 18 215,330 (7,164 ) 27 341,639 (8,530 ) Commercial mortgage-backed securities 1 4,287 (12 ) — — — 1 4,287 (12 ) Other debt securities — — — 3 4,245 (651 ) 3 4,245 (651 ) Equity securities 1 632 (3 ) — — — 1 632 (3 ) Total impaired securities available for sale 36 $ 589,609 $ (5,027 ) 23 $ 254,062 $ (8,326 ) 59 $ 843,671 $ (13,353 ) Securities Held to Maturity September 30, 2016 U.S. government-sponsored entities 2 $ 39,804 $ (196 ) — $ — $ — 2 $ 39,804 $ (196 ) Residential mortgage-backed securities: Agency collateralized mortgage obligations 12 317,349 (1,623 ) 12 121,880 (1,431 ) 24 439,229 (3,054 ) Non-agency collateralized mortgage obligations 3 1,239 (5 ) — — — 3 1,239 (5 ) Commercial mortgage-backed securities 1 8,415 (120 ) — — — 1 8,415 (120 ) States of the U.S. and political subdivisions 12 36,447 (691 ) — — — 12 36,447 (691 ) Total impaired securities held to maturity 30 $ 403,254 $ (2,635 ) 12 $ 121,880 $ (1,431 ) 42 $ 525,134 $ (4,066 ) December 31, 2015 U.S. government-sponsored entities 3 $ 39,843 $ (173 ) 1 $ 14,778 $ (222 ) 4 $ 54,621 $ (395 ) Residential mortgage-backed securities: Agency mortgage-backed securities 17 212,024 (1,159 ) 1 917 (17 ) 18 212,941 (1,176 ) Agency collateralized mortgage obligations 11 150,593 (1,434 ) 14 160,716 (6,223 ) 25 311,309 (7,657 ) Commercial mortgage-backed securities 3 46,278 (259 ) — — — 3 46,278 (259 ) States of the U.S. and political subdivisions 9 17,616 (101 ) — — — 9 17,616 (101 ) Total impaired securities held to maturity 43 $ 466,354 $ (3,126 ) 16 $ 176,411 $ (6,462 ) 59 $ 642,765 $ (9,588 ) |
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: (in thousands) Equities Total For the Nine Months Ended September 30, 2016 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 Nine Months Ended September 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 |
Loans and Leases (Tables)
Loans and Leases (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Summary of Loans and Leases, Net of Unearned Income | Following is a summary of loans and leases, net of unearned income: (in thousands) Originated Loans and Leases Acquired Loans Total Loans and September 30, 2016 Commercial real estate $ 3,918,575 $ 1,448,716 $ 5,367,291 Commercial and industrial 2,696,210 392,195 3,088,405 Commercial leases 195,271 — 195,271 Total commercial loans and leases 6,810,056 1,840,911 8,650,967 Direct installment 1,750,189 87,206 1,837,395 Residential mortgages 1,355,476 424,391 1,779,867 Indirect installment 1,150,575 237 1,150,812 Consumer lines of credit 1,088,807 214,416 1,303,223 Other 51,182 — 51,182 Total loans and leases, net of unearned income $ 12,206,285 $ 2,567,161 $ 14,773,446 (in thousands) Originated Loans and Leases Acquired Loans Total Loans and December 31, 2015 Commercial real estate $ 3,531,146 $ 577,910 $ 4,109,056 Commercial and industrial 2,534,351 67,371 2,601,722 Commercial leases 204,553 — 204,553 Total commercial loans and leases 6,270,050 645,281 6,915,331 Direct installment 1,660,717 45,919 1,706,636 Residential mortgages 1,044,689 351,282 1,395,971 Indirect installment 996,175 554 996,729 Consumer lines of credit 1,021,830 115,425 1,137,255 Other 38,518 — 38,518 Total loans and leases, net of unearned income $ 11,031,979 $ 1,158,461 $ 12,190,440 |
Certain Information Relating to Regency Consumer Finance Loans | The following table shows certain information relating to the Regency consumer finance loans: September 30, December 31, (dollars in thousands) 2016 2015 Regency consumer finance loans $ 182,527 $ 186,162 Percent of total loans and leases 1.2 % 1.5 % |
Certain Information Relating to Commercial Real Estate Loans | The following table shows certain information relating to commercial real estate loans: September 30, December 31, (dollars in thousands) 2016 2015 Commercial construction loans $ 454,239 $ 352,322 Percent of total loans and leases 3.1 % 2.9 % Commercial real estate: Percent owner-occupied 36.3 % 38.1 % Percent non-owner-occupied 63.7 % 61.9 % |
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 sheets are as follows: (in thousands) September 30, 2016 December 31, Accounted for under ASC 310-30: Outstanding balance $ 2,534,180 $ 1,258,418 Carrying amount 2,206,380 1,011,139 Accounted for under ASC 310-20: Outstanding balance 372,419 146,161 Carrying amount 354,400 140,595 Total acquired loans: Outstanding balance 2,906,599 1,404,579 Carrying amount 2,560,780 1,151,734 |
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. Nine Months Ended September 30, (in thousands) 2016 2015 Balance at beginning of period $ 256,120 $ 331,899 Acquisitions 308,311 — Reduction due to unexpected early payoffs (60,920 ) (35,601 ) Reclass from non-accretable difference 66,807 24,489 Disposals/transfers (343 ) (509 ) Accretion (77,180 ) (46,207 ) Balance at end of period $ 492,795 $ 274,071 |
Summary of Acquisition of Purchased Loans | The following table reflects amounts at acquisition for all purchased loans subject to ASC 310-30 (impaired and non-impaired loans with deteriorated credit quality) acquired from METR and Fifth Third. (in thousands) Acquired Acquired Performing Loans Total Contractually required cash flows at acquisition $ 99,611 $ 2,191,476 $ 2,291,087 Non-accretable difference (expected losses and foregone interest) (52,995 ) (264,233 ) (317,228 ) Cash flows expected to be collected at acquisition 46,616 1,927,243 1,973,859 Accretable yield (1,063 ) (307,248 ) (308,311 ) Basis in acquired loans at acquisition $ 45,553 $ 1,619,995 $ 1,665,548 |
Summary of Non-Performing Assets | Following is a summary of non-performing assets: (dollars in thousands) September 30, 2016 December 31, Non-accrual loans $ 74,828 $ 49,897 Troubled debt restructurings 20,638 22,028 Total non-performing loans 95,466 71,925 Other real estate owned (OREO) 40,523 38,918 Total non-performing assets $ 135,989 $ 110,843 Asset quality ratios: Non-performing loans / total loans and leases 0.65 % 0.59 % Non-performing loans + OREO / total loans and leases + OREO 0.92 % 0.91 % Non-performing assets / of total assets 0.63 % 0.63 % |
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: (in thousands) 30-89 Days Past ³ 90 Days Non- Accrual Total Past Due Current Total Loans and Originated Loans and Leases September 30, 2016 Commercial real estate $ 7,971 $ 1 $ 18,186 $ 26,158 $ 3,892,417 $ 3,918,575 Commercial and industrial 5,479 3 36,174 41,656 2,654,554 2,696,210 Commercial leases 1,106 — 3,359 4,465 190,806 195,271 Total commercial loans and leases 14,556 4 57,719 72,279 6,737,777 6,810,056 Direct installment 9,003 3,502 6,368 18,873 1,731,316 1,750,189 Residential mortgages 9,550 2,454 3,106 15,110 1,340,366 1,355,476 Indirect installment 6,468 467 1,741 8,676 1,141,899 1,150,575 Consumer lines of credit 3,467 408 1,564 5,439 1,083,368 1,088,807 Other 27 71 1,000 1,098 50,084 51,182 Total originated loans and leases $ 43,071 $ 6,906 $ 71,498 $ 121,475 $ 12,084,810 $ 12,206,285 December 31, 2015 Commercial real estate $ 11,006 $ 1 $ 23,503 $ 34,510 $ 3,496,636 $ 3,531,146 Commercial and industrial 5,409 3 14,382 19,794 2,514,557 2,534,351 Commercial leases 924 — 659 1,583 202,970 204,553 Total commercial loans and leases 17,339 4 38,544 55,887 6,214,163 6,270,050 Direct installment 9,254 3,813 4,806 17,873 1,642,844 1,660,717 Residential mortgages 8,135 1,470 2,882 12,487 1,032,202 1,044,689 Indirect installment 9,472 379 1,361 11,212 984,963 996,175 Consumer lines of credit 2,410 1,189 1,181 4,780 1,017,050 1,021,830 Other 73 169 — 242 38,276 38,518 Total originated loans and leases $ 46,683 $ 7,024 $ 48,774 $ 102,481 $ 10,929,498 $ 11,031,979 (in thousands) 30-89 Days Past Due ³ 90 Days and Still Non- Accrual Total Past Due (1) (2) Current Discount Total Loans Acquired Loans September 30, 2016 Commercial real estate $ 14,576 $ 25,048 $ 1,754 $ 41,378 $ 1,489,415 $ (82,077 ) $ 1,448,716 Commercial and industrial 1,283 2,941 1,153 5,377 418,122 (31,304 ) 392,195 Total commercial loans 15,859 27,989 2,907 46,755 1,907,537 (113,381 ) 1,840,911 Direct installment 2,712 947 — 3,659 81,332 2,215 87,206 Residential mortgages 8,224 12,625 — 20,849 442,023 (38,481 ) 424,391 Indirect installment 4 3 — 7 169 61 237 Consumer lines of credit 2,288 1,020 423 3,731 215,455 (4,770 ) 214,416 Total acquired loans $ 29,087 $ 42,584 $ 3,330 $ 75,001 $ 2,646,516 $ (154,356 ) $ 2,567,161 December 31, 2015 Commercial real estate $ 6,399 $ 12,752 $ 931 $ 20,082 $ 593,128 $ (35,300 ) $ 577,910 Commercial and industrial 1,065 616 103 1,784 72,037 (6,450 ) 67,371 Total commercial loans 7,464 13,368 1,034 21,866 665,165 (41,750 ) 645,281 Direct installment 837 659 — 1,496 43,596 827 45,919 Residential mortgages 5,871 15,136 — 21,007 366,742 (36,467 ) 351,282 Indirect installment 32 9 — 41 571 (58 ) 554 Consumer lines of credit 830 546 89 1,465 117,443 (3,483 ) 115,425 Total acquired loans $ 15,034 $ 29,718 $ 1,123 $ 45,875 $ 1,193,517 $ (80,931 ) $ 1,158,461 (1) Past due information for acquired loans is based on the contractual balance outstanding at September 30, 2016 and December 31, 2015. (2) Acquired loans are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, as long as the Corporation can reasonably estimate the timing and amount of expected cash flows on such loans. In these instances, 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. Acquired loans are considered non-accrual or non-performing when, due to credit deterioration or other factors, the Corporation determines it is no longer able to reasonably estimate the timing and amount of expected cash flows on such loans. The Corporation does not recognize interest income on acquired loans considered non-accrual or non-performing. |
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 (in thousands) Pass Special Substandard Doubtful Total Originated Loans and Leases September 30, 2016 Commercial real estate $ 3,737,877 $ 120,184 $ 59,964 $ 550 $ 3,918,575 Commercial and industrial 2,466,207 85,586 135,322 9,095 2,696,210 Commercial leases 186,357 4,446 4,468 — 195,271 Total originated commercial loans and leases $ 6,390,441 $ 210,216 $ 199,754 $ 9,645 $ 6,810,056 December 31, 2015 Commercial real estate $ 3,416,527 $ 52,887 $ 61,411 $ 321 $ 3,531,146 Commercial and industrial 2,335,103 109,539 87,380 2,329 2,534,351 Commercial leases 198,207 2,447 3,899 — 204,553 Total originated commercial loans and leases $ 5,949,837 $ 164,873 $ 152,690 $ 2,650 $ 6,270,050 Acquired Loans September 30, 2016 Commercial real estate $ 1,249,051 $ 75,085 $ 123,560 $ 1,020 $ 1,448,716 Commercial and industrial 336,545 13,110 42,024 516 392,195 Total acquired commercial loans $ 1,585,596 $ 88,195 $ 165,584 $ 1,536 $ 1,840,911 December 31, 2015 Commercial real estate $ 464,162 $ 47,619 $ 66,129 — $ 577,910 Commercial and industrial 56,446 3,182 7,743 — 67,371 Total acquired commercial loans $ 520,608 $ 50,801 $ 73,872 — $ 645,281 |
Summary of Consumer Loans by Payment Status | Following is a table showing originated consumer loans by payment status: Originated Consumer Loan Credit Quality by Payment Status (in thousands) Performing Non-Performing Total September 30, 2016 Direct installment $ 1,735,117 $ 15,072 $ 1,750,189 Residential mortgages 1,342,077 13,399 1,355,476 Indirect installment 1,148,649 1,926 1,150,575 Consumer lines of credit 1,086,167 2,640 1,088,807 Other 51,182 — 51,182 Total originated consumer loans $ 5,363,192 $ 33,037 $ 5,396,229 December 31, 2015 Direct installment $ 1,646,925 $ 13,792 $ 1,660,717 Residential mortgages 1,031,926 12,763 1,044,689 Indirect installment 994,661 1,514 996,175 Consumer lines of credit 1,019,783 2,047 1,021,830 Other 38,518 — 38,518 Total originated consumer loans $ 4,731,813 $ 30,116 $ 4,761,929 |
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: (in thousands) Unpaid Principal Balance Recorded Investment Reserve Recorded Investment Specific Reserve Total Recorded Investment Specific Average Recorded Investment At or for the Nine Months Ended September 30, 2016 Commercial real estate $ 20,836 $ 15,057 $ 3,214 $ 18,271 $ 550 $ 21,677 Commercial and industrial 41,296 18,654 17,028 35,682 9,095 31,603 Commercial leases 3,359 3,359 — 3,359 — 1,514 Total commercial loans and leases 65,491 37,070 20,242 57,312 9,645 54,794 Direct installment 16,465 15,072 — 15,072 — 14,972 Residential mortgages 14,049 13,399 — 13,399 — 13,164 Indirect installment 4,668 1,926 — 1,926 — 1,846 Consumer lines of credit 3,413 2,640 — 2,640 — 2,825 Total $ 104,086 $ 70,107 $ 20,242 $ 90,349 $ 9,645 $ 87,601 At or for the Year Ended December 31, 2015 Commercial real estate $ 33,780 $ 24,423 $ 772 $ 25,195 $ 321 $ 26,143 Commercial and industrial 15,860 9,176 5,543 14,719 2,329 12,298 Commercial leases 659 659 — 659 — 747 Total commercial loans and leases 50,299 34,258 6,315 40,573 2,650 39,188 Direct installment 14,679 13,792 — 13,792 — 13,267 Residential mortgages 13,394 12,763 — 12,763 — 12,896 Indirect installment 3,745 1,514 — 1,514 — 1,401 Consumer lines of credit 2,408 2,047 — 2,047 — 2,198 Total $ 84,525 $ 64,374 $ 6,315 $ 70,689 $ 2,650 $ 68,950 |
Additional Allowance for Credit Losses Relating to Acquired Loans | The above tables do not reflect the additional allowance for credit losses relating to acquired loans in the following pools and categories: (in thousands) September 30, December 31, Commercial real estate $ 3,631 $ 3,073 Commercial and industrial 493 695 Total commercial loans 4,124 3,768 Direct installment 1,110 1,557 Residential mortgages 659 659 Indirect installment 221 221 Consumer lines of credit 267 522 Total $ 6,381 $ 6,727 |
Summary of Payment Status of Originated TDRs | Following is a summary of the payment status of originated TDRs: (in thousands) September 30, 2016 December 31, Accruing: Performing $ 17,030 $ 15,165 Non-performing 20,638 22,028 Non-accrual 9,307 8,307 Total TDRs $ 46,975 $ 45,500 |
Reserve for Commercial TDRs Included in Allowance for Credit Losses | The reserve for commercial TDRs included in the allowance for credit losses are as follows: (in thousands) September 30, 2016 December 31, Specific reserves $ 608 $ 300 Pooled reserves for individual loans under $500 302 929 |
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 originated loans, by class, that have been restructured: Three Months Ended September 30, 2016 Nine Months Ended September 30, 2016 (dollars in thousands) 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 — $ — $ — 4 $ 778 $ 737 Commercial and industrial 3 1,504 1,504 3 1,727 1,504 Total commercial loans 3 1,504 1,504 7 2,505 2,241 Direct installment 123 1,029 1,018 388 5,051 4,749 Residential mortgages 9 508 532 36 1,946 1,893 Indirect installment 9 23 22 14 40 40 Consumer lines of credit 20 395 364 56 878 837 Total 164 $ 3,459 $ 3,440 501 $ 10,420 $ 9,760 Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 (dollars in thousands) 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 $ 168 Commercial and industrial — — — 1 5 4 Total commercial loans — — — 3 317 172 Direct installment 121 1,757 1,726 361 5,064 4,835 Residential mortgages 10 232 233 31 1,048 1,074 Indirect installment 3 13 10 13 43 40 Consumer lines of credit 10 146 143 40 666 610 Total 144 $ 2,148 $ 2,112 448 $ 7,138 $ 6,731 |
Summary of Originated Troubled Debt Restructurings by Class, Payment Default | Following is a summary of originated TDRs, by class, 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 September 30, 2016 Nine Months Ended September 30, 2016 (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial real estate — $ — — $ — Commercial and industrial — — — — Total commercial loans — — — — Direct installment 26 408 76 377 Residential mortgages 5 189 7 282 Indirect installment 6 19 12 19 Consumer lines of credit 1 25 3 91 Total 38 $ 641 98 $ 769 Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial real estate — $ — — $ — Commercial and industrial — — 1 204 Total commercial loans — — 1 204 Direct installment 22 87 75 254 Residential mortgages 2 75 5 179 Indirect installment 1 6 6 12 Consumer lines of credit — — 1 8 Other — — — — Total 25 $ 168 88 $ 657 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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: (in thousands) Balance at Beginning of Charge- Recoveries Net Charge- Provision Balance at End of Three Months Ended September 30, 2016 Commercial real estate $ 44,428 $ (3,537 ) $ 1,810 $ (1,727 ) $ (334 ) $ 42,367 Commercial and industrial 51,475 (6,753 ) 598 (6,155 ) 8,388 53,708 Commercial leases 3,047 (100 ) 3 (97 ) 257 3,207 Total commercial loans and leases 98,950 (10,390 ) 2,411 (7,979 ) 8,311 99,282 Direct installment 21,543 (2,464 ) 545 (1,919 ) 1,463 21,087 Residential mortgages 8,410 (144 ) 11 (133 ) 969 9,246 Indirect installment 9,543 (1,781 ) 617 (1,164 ) 1,983 10,362 Consumer lines of credit 9,149 (459 ) 82 (377 ) 499 9,271 Other 1,124 (709 ) 3 (706 ) 847 1,265 Total allowance on originated loans and leases 148,719 (15,947 ) 3,669 (12,278 ) 14,072 150,513 Purchased credit-impaired loans 632 — 42 42 (102 ) 572 Other acquired loans 5,018 (240 ) 362 122 669 5,809 Total allowance on acquired loans 5,650 (240 ) 404 164 567 6,381 Total $ 154,369 $ (16,187 ) $ 4,073 $ (12,114 ) $ 14,639 $ 156,894 Nine Months Ended September 30, 2016 Commercial real estate $ 41,741 $ (5,572 ) $ 3,516 $ (2,056 ) $ 2,682 $ 42,367 Commercial and industrial 41,023 (12,722 ) 978 (11,744 ) 24,429 53,708 Commercial leases 2,541 (817 ) 49 (768 ) 1,434 3,207 Total commercial loans and leases 85,305 (19,111 ) 4,543 (14,568 ) 28,545 99,282 Direct installment 21,587 (7,552 ) 1,453 (6,099 ) 5,599 21,087 Residential mortgages 7,909 (301 ) 68 (233 ) 1,570 9,246 Indirect installment 9,889 (5,486 ) 1,545 (3,941 ) 4,414 10,362 Consumer lines of credit 9,582 (1,461 ) 187 (1,274 ) 963 9,271 Other 1,013 (1,988 ) 35 (1,953 ) 2,205 1,265 Total allowance on originated loans and leases 135,285 (35,899 ) 7,831 (28,068 ) 43,296 150,513 Purchased credit-impaired loans 834 (399 ) 42 (357 ) 95 572 Other acquired loans 5,893 (687 ) 947 260 (344 ) 5,809 Total allowance on acquired loans 6,727 (1,086 ) 989 (97 ) (249 ) 6,381 Total $ 142,012 $ (36,985 ) $ 8,820 $ (28,165 ) $ 43,047 $ 156,894 (in thousands) Balance at Beginning of Charge- Recoveries Net Charge- Provision Balance at End of Three Months Ended September 30, 2015 Commercial real estate $ 39,872 $ (1,259 ) $ 370 $ (889 ) $ 2,870 $ 41,853 Commercial and industrial 32,305 (584 ) 290 (294 ) 3,223 35,234 Commercial leases 2,223 (124 ) 50 (74 ) 265 2,414 Total commercial loans and leases 74,400 (1,967 ) 710 (1,257 ) 6,358 79,501 Direct installment 22,279 (2,722 ) 565 (2,157 ) 1,214 21,336 Residential mortgages 8,579 (268 ) 14 (254 ) 341 8,666 Indirect installment 8,909 (1,650 ) 264 (1,386 ) 2,090 9,613 Consumer lines of credit 9,118 (472 ) 56 (416 ) 871 9,573 Other 911 (402 ) 8 (394 ) 413 930 Total allowance on originated loans and leases 124,196 (7,481 ) 1,617 (5,864 ) 11,287 129,619 Purchased credit-impaired loans 658 — — — 36 695 Other acquired loans 6,287 (153 ) 282 129 (546 ) 5,869 Total allowance on acquired loans 6,945 (153 ) 282 129 (510 ) 6,564 Total $ 131,141 $ (7,634 ) $ 1,899 $ (5,735 ) $ 10,777 $ 136,183 Nine Months Ended September 30, 2015 Commercial real estate $ 37,588 $ (3,237 ) $ 779 $ (2,458 ) $ 6,723 $ 41,853 Commercial and industrial 32,645 (2,684 ) 1,386 (1,298 ) 3,887 35,234 Commercial leases 2,398 (328 ) 95 (233 ) 249 2,414 Total commercial loans and leases 72,631 (6,249 ) 2,260 (3,989 ) 10,859 79,501 Direct installment 20,538 (8,108 ) 1,131 (6,977 ) 7,775 21,336 Residential mortgages 8,024 (891 ) 53 (838 ) 1,480 8,666 Indirect installment 7,504 (4,433 ) 898 (3,535 ) 5,644 9,613 Consumer lines of credit 8,496 (1,205 ) 132 (1,073 ) 2,150 9,573 Other 759 (1,062 ) 44 (1,018 ) 1,189 930 Total allowance on originated loans and leases 117,952 (21,948 ) 4,518 (17,430 ) 29,097 129,619 Purchased credit-impaired loans 660 (64 ) 19 (45 ) 80 695 Other acquired loans 7,314 (698 ) 653 (45 ) (1,400 ) 5,869 Total allowance on acquired loans 7,974 (762 ) 672 (90 ) (1,320 ) 6,564 Total $ 125,926 $ (22,710 ) $ 5,190 $ (17,520 ) $ 27,777 $ 136,183 |
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: Originated Allowance Originated Loans and Leases Outstanding (in thousands) Individually Evaluated for Impairment Collectively Evaluated for Impairment Loans and Individually Evaluated for Impairment Collectively Evaluated for Impairment September 30, 2016 Commercial real estate $ 550 $ 41,817 $ 3,918,575 $ 13,736 $ 3,904,839 Commercial and industrial 9,095 44,613 2,696,210 33,895 2,662,315 Commercial leases — 3,207 195,271 — 195,271 Total commercial loans and leases 9,645 89,637 6,810,056 47,631 6,762,425 Direct installment — 21,087 1,750,189 — 1,750,189 Residential mortgages — 9,246 1,355,476 — 1,355,476 Indirect installment — 10,362 1,150,575 — 1,150,575 Consumer lines of credit — 9,271 1,088,807 — 1,088,807 Other — 1,265 51,182 — 51,182 Total $ 9,645 $ 140,868 $ 12,206,285 $ 47,631 $ 12,158,654 December 31, 2015 Commercial real estate $ 321 $ 41,420 $ 3,531,146 $ 12,904 $ 3,518,242 Commercial and industrial 2,329 38,694 2,534,351 10,802 2,523,549 Commercial leases — 2,541 204,553 — 204,553 Total commercial loans and leases 2,650 82,655 6,270,050 23,706 6,246,344 Direct installment — 21,587 1,660,717 — 1,660,717 Residential mortgages — 7,909 1,044,689 — 1,044,689 Indirect installment — 9,889 996,175 — 996,175 Consumer lines of credit — 9,582 1,021,830 — 1,021,830 Other — 1,013 38,518 — 38,518 Total $ 2,650 $ 132,635 $ 11,031,979 $ 23,706 $ 11,008,273 |
Borrowings (Tables)
Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Debt Disclosure [Abstract] | |
Summary of Short-Term Borrowings | Following is a summary of short-term borrowings: (in thousands) September 30, 2016 December 31, Securities sold under repurchase agreements $ 310,787 $ 266,732 Federal Home Loan Bank advances 925,000 1,090,000 Federal funds purchased 872,000 568,000 Subordinated notes 128,318 124,164 Total short-term borrowings $ 2,236,105 $ 2,048,896 |
Summary of Long-Term Borrowings | Following is a summary of long-term borrowings: (in thousands) September 30, 2016 December 31, Federal Home Loan Bank advances $ 355,122 $ 400,017 Subordinated notes 85,188 84,668 Junior subordinated debt 48,591 58,298 Other subordinated debt 98,599 98,497 Total long-term borrowings $ 587,500 $ 641,480 |
Junior Subordinated Debt Trusts | The following table provides information relating to the Trusts as of September 30, 2016: (dollars in thousands) 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 2.50 % Variable; 3-month LIBOR + 165 basis points (bps) Omega Financial Capital Trust I 26,000 1,114 26,426 10/18/34 2.87 % Variable; 3-month LIBOR + 219 bps Total $ 47,500 $ 1,779 $ 48,591 |
Derivative and Hedging Activi30
Derivative and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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: September 30, 2016 December 31, 2015 Notional Fair Value Notional Fair Value (in thousands) Amount Asset Liability Amount Asset Liability Gross Derivatives Subject to master netting arrangements: Interest rate contracts – designated $ 450,000 $ 9,938 $ 1,167 $ 250,000 $ 3,178 $ 962 Interest rate swaps – not designated 1,614,449 — 91,949 1,262,964 1 50,491 Equity contracts – not designated 1,180 43 — 1,180 18 — Total subject to master netting arrangements 2,065,629 9,981 93,116 1,514,144 3,197 51,453 Not subject to master netting arrangements: Interest rate swaps – not designated 1,614,449 90,989 — 1,262,964 49,998 1 Credit risk contracts – not designated 171,072 57 355 114,753 7 133 Equity contracts – not designated 1,180 — 43 1,180 — 18 Total not subject to master netting arrangements 1,786,701 91,046 398 1,378,897 50,005 152 Total $ 3,852,330 $ 101,027 $ 93,514 $ 2,893,041 $ 53,202 $ 51,605 |
Summary of Amounts Reclassified from Accumulated Other Comprehensive Income (AOCI) | The following table shows amounts reclassified from accumulated other comprehensive income (AOCI) for the nine months ended September 30, 2016: (in thousands) Total Net of Tax Reclassified from AOCI to interest income $ 2,030 $ 1,319 Reclassified from AOCI to interest expense 554 360 |
Derivative Liabilities | 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: (in thousands) Gross Amount Gross Net Amount September 30, 2016 Derivative Liabilities Subject to master netting arrangements: Interest rate contracts Designated $ 1,167 — $ 1,167 Not designated 91,949 — 91,949 Not subject to master netting arrangements: Interest rate contracts – not designated — — — Credit contracts – not designated 355 — 355 Equity contracts – not designated 43 — 43 Total derivative liabilities $ 93,514 — $ 93,514 Gross Gross Net Amount Derivative Liabilities Subject to master netting arrangements: Interest rate contracts Designated $ 962 — $ 962 Not designated 50,491 — 50,491 Not subject to master netting arrangements: Interest rate contracts – not designated 1 — 1 Credit contracts – not designated 133 133 Equity contracts – not designated 18 — 18 Total derivative liabilities $ 51,605 — $ 51,605 |
Derivative Assets | 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: (in thousands) Gross Amount Gross Net Amount September 30, 2016 Derivative Assets Subject to master netting arrangements: Interest rate contracts Designated $ 9,938 — $ 9,938 Not designated — — — Equity contracts – not designated 43 — 43 Not subject to master netting arrangements: Interest rate contracts – not designated 90,989 — 90,989 Credit contracts – not designated 57 — 57 Total derivative assets $ 101,027 — $ 101,027 December 31, 2015 Derivative Assets Subject to master netting arrangements: Interest rate contracts Designated $ 3,178 — $ 3,178 Not designated 1 — 1 Equity contracts – not designated 18 — 18 Not subject to master netting arrangements: Interest rate contracts – not designated 49,998 — 49,998 Credit contracts – not designated 7 7 Total derivative assets $ 53,202 — $ 53,202 |
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: Nine Months Ended (in thousands) Income Statement Location 2016 2015 Interest Rate Contracts Interest income - loans and leases $ 2,030 $ 2,440 Interest Rate Contracts Interest expense – short-term borrowings 554 115 Interest Rate Swaps Other income (467 ) (364 ) Credit Risk Contracts Other income (172 ) (180 ) |
Interest Rate Contracts [Member] | |
Summary of Key Data Related to Interest Rate | Following is a summary of key data related to interest rate contracts: (in thousands) September 30, 2016 December 31, Notional amount $ 450,000 $ 250,000 Fair value included in other assets 9,938 3,178 Fair value included in other liabilities 1,167 962 |
Interest Rate Swap [Member] | |
Summary of Key Data Related to Interest Rate | Following is a summary of key data related to interest rate swaps: (in thousands) September 30, 2016 December 31, Notional amount $ 1,614,449 $ 1,262,964 Fair value included in other assets 90,989 49,999 Fair value included in other liabilities 91,949 50,492 |
Collateral Held By Counterparty [Member] | |
Derivative Liabilities | The following table presents a reconciliation of the net amounts of derivative assets and derivative liabilities presented in the balance sheets to the net amounts that would result in the event of offset: Amount Not Offset in the (in thousands) Net Amount the Balance Sheet Financial Cash Net Amount September 30, 2016 Derivative Liabilities Interest rate contracts: Designated $ 1,167 $ — $ 1,167 $ — Not designated 91,949 29,605 61,281 1,063 Total $ 93,116 $ 29,605 $ 62,448 $ 1,063 December 31, 2015 Derivative Liabilities Interest rate contracts: Designated $ 962 $ 792 $ 170 $ — Not designated 50,491 24,579 24,632 1,280 Total $ 51,453 $ 25,371 $ 24,802 $ 1,280 |
Derivative Assets | The following table presents a reconciliation of the net amounts of derivative assets and derivative liabilities presented in the balance sheets to the net amounts that would result in the event of offset: Amount Not Offset in the (in thousands) Net Amount the Balance Sheet Financial Cash Net Amount September 30, 2016 Derivative Assets Interest rate contracts: Designated $ 9,938 $ 5,578 $ 4,360 — Not designated — — — — Equity contracts – not designated 43 43 — — Total $ 9,981 $ 5,621 $ 4,360 — December 31, 2015 Derivative Assets Interest rate contracts: Designated $ 3,178 $ 1,516 $ 1,662 — Not designated 1 1 — — Equity contracts – not designated 18 18 — — Total $ 3,197 $ 1,535 $ 1,662 — |
Commitments, Credit Risk and 31
Commitments, Credit Risk and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Off-Balance Sheet Credit Risk Information | Following is a summary of off-balance sheet credit risk information: (in thousands) September 30, 2016 December 31, 2015 Commitments to extend credit $ 4,530,815 $ 3,781,719 Standby letters of credit 128,264 92,979 |
Stock Incentive Plans (Tables)
Stock Incentive Plans (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Activity Relating to Restricted Stock Awards | The following table summarizes the activity relating to restricted stock awards during the periods indicated: Nine Months Ended September 30, 2016 2015 Awards Weighted Average Grant Awards Weighted Average Grant Unvested awards outstanding at beginning of period 1,548,444 $ 12.85 1,354,093 $ 11.86 Granted 574,125 12.86 402,947 13.16 Net adjustment due to performance — — 8,884 22.73 Vested (374,579 ) 12.11 (471,997 ) 10.66 Forfeited (21,486 ) 12.98 (29,428 ) 13.46 Dividend reinvestment 44,534 12.25 30,551 11.32 Unvested awards outstanding at end of period 1,771,038 13.00 1,295,050 12.73 |
Schedule of Certain Information Related to Restricted Stock Awards | The following table provides certain information related to restricted stock awards: (in thousands) Nine Months Ended September 30, 2016 2015 Stock-based compensation expense $ 4,644 $ 3,287 Tax benefit related to stock-based compensation expense 1,625 1,150 Fair value of awards vested 4,563 5,912 |
Components of Restricted Stock Awards | The components of the restricted stock awards as of September 30, 2016 are as follows: (dollars in thousands) Service- Awards Performance- Based Awards Total Unvested restricted stock awards 852,788 918,250 1,771,038 Unrecognized compensation expense $ 5,520 $ 6,147 $ 11,667 Intrinsic value $ 10,489 $ 11,295 $ 21,784 Weighted average remaining life (in years) 2.04 2.15 2.10 |
Summary of Activity Relating to Stock Options | The following table summarizes the activity relating to stock options during the periods indicated: Nine Months Ended September 30, 2016 2015 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options outstanding at beginning of period 435,340 $ 8.86 568,834 $ 8.86 Assumed from acquisitions 1,707,036 7.83 — — Exercised (352,094 ) 6.89 (88,899 ) 5.61 Forfeited (93,628 ) 6.74 (2,182 ) 4.34 Options outstanding and exercisable at end of period 1,696,654 8.35 477,753 9.48 |
Retirement Plans (Tables)
Retirement Plans (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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 Nine Months Ended (in thousands) 2016 2015 2016 2015 Service cost $ (4 ) $ 18 $ (12 ) $ 52 Interest cost 1,521 1,470 4,609 4,424 Expected return on plan assets (2,354 ) (2,491 ) (7,060 ) (7,473 ) Amortization: Unrecognized prior service cost 2 2 6 6 Unrecognized loss 584 518 1,800 1,590 Net periodic pension credit $ (251 ) $ (483 ) $ (657 ) $ (1,401 ) |
Comprehensive Income (Tables)
Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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 Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Net income $ 52,168 $ 40,053 $ 119,600 $ 120,527 Other comprehensive income (loss): Securities available for sale: Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(1,535) $9,818 (2,851 ) 6,778 18,234 7,989 Reclassification adjustment for gains included in net income, net of tax expense of $105, , $209 (195 ) (204 ) (388 ) (207 ) Derivative instruments: Unrealized gains arising during the period, net of tax expense of $284, $2,811 528 3,099 5,221 4,295 Reclassification adjustment for gains included in net income, net of tax expense of $138, , $517 (256 ) (457 ) (960 ) (1,511 ) Pension and postretirement benefit obligations: Unrealized gains arising during the period, net of tax expense of $205, , $632 380 340 1,173 1,040 Other comprehensive (loss) income (2,394 ) 9,556 23,280 11,606 Comprehensive income $ 49,774 $ 49,609 $ 142,880 $ 132,133 |
Changes in AOCI, Net of Tax, by Component | The following table presents changes in AOCI, net of tax, by component: (in thousands) Unrealized Net Gains (Losses) on Securities Available for Sale Unrealized Net Gains Derivative Instruments Unrecognized Postretirement Obligations Total Nine Months Ended September 30, 2016 Balance at beginning of period $ (3,873 ) $ 1,440 $ (48,700 ) $ (51,133 ) Other comprehensive income before reclassifications 18,234 5,221 1,173 24,628 Amounts reclassified from AOCI (388 ) (960 ) — (1,348 ) Net current period other comprehensive income 17,846 4,261 1,173 23,280 Balance at end of period $ 13,973 $ 5,701 $ (47,527 ) $ (27,853 ) |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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 September 30, Nine Months Ended September 30, ( 2016 2015 2016 2015 Net income $ 52,168 $ 40,053 $ 119,600 $ 120,527 Less: Preferred stock dividends 2,010 2,010 6,030 6,030 Net income available to common stockholders $ 50,158 $ 38,043 $ 113,570 $ 114,497 Basic weighted average common shares outstanding 210,306,834 175,343,789 204,687,092 174,816,692 Net effect of dilutive stock options, warrants, restricted stock and convertible debt 1,483,896 1,169,043 1,446,648 1,383,450 Diluted weighted average common shares outstanding 211,790,730 176,512,832 206,133,740 176,200,142 Earnings per common share: Basic $ 0.24 $ 0.22 $ 0.55 $ 0.65 Diluted $ 0.24 $ 0.22 $ 0.55 $ 0.65 |
Schedule of Average Shares Excluded from Diluted Earnings Per Common Share Calculation | The following table shows the average shares excluded from the above calculation as their effect would have been anti-dilutive: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Average shares excluded from the diluted earnings per common share calculation 14,859 19,385 14,041 20,440 |
Cash Flow Information (Tables)
Cash Flow Information (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
Summary of Supplemental Cash Flow Information | Following is a summary of supplemental cash flow information: Nine Months Ended 2016 2015 (in thousands) Interest paid on deposits and other borrowings $ 48,315 $ 35,531 Income taxes paid 47,500 41,000 Transfers of loans to other real estate owned 13,055 6,901 Financing of other real estate owned sold 441 372 |
Business Segments (Tables)
Business Segments (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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 financial statements. (in thousands) Community Wealth Management Insurance Consumer Parent Consolidated At or for the Three Months Ended September 30, 2016 Interest income $ 162,714 $ — $ 21 $ 10,260 $ 2,115 $ 175,110 Interest expense 14,791 — — 949 1,864 17,604 Net interest income 147,923 — 21 9,311 251 157,506 Provision for credit losses 12,766 — — 1,517 356 14,639 Non-interest income 40,760 8,835 3,847 728 (930 ) 53,240 Non-interest expense 101,744 6,619 3,249 5,328 539 117,479 Intangible amortization 3,422 65 84 — — 3,571 Income tax expense (benefit) 21,449 781 196 1,238 (775 ) 22,889 Net income (loss) 49,302 1,370 339 1,956 (799 ) 52,168 Total assets 21,383,500 19,490 21,464 191,524 (32,064 ) 21,583,914 Total intangibles 1,079,196 10,253 12,394 1,809 — 1,103,652 At or for the Three Months Ended September 30, 2015 Interest income $ 125,281 $ — $ 22 $ 10,096 $ 1,798 $ 137,197 Interest expense 10,473 — — 878 645 11,996 Net interest income 114,808 — 22 9,218 1,153 125,201 Provision for credit losses 8,702 — — 1,750 325 10,777 Non-interest income 29,667 8,682 3,602 716 (1,308 ) 41,359 Non-interest expense 80,906 6,703 3,201 4,983 322 96,115 Intangible amortization 1,824 69 141 — — 2,034 Income tax expense (benefit) 15,804 696 105 1,473 (497 ) 17,581 Net income (loss) 37,239 1,214 177 1,728 (305 ) 40,053 Total assets 16,658,489 21,099 22,201 187,721 (53,437 ) 16,836,073 Total intangibles 855,164 10,516 13,069 1,809 — 880,558 (in thousands) Community Wealth Management Insurance Consumer Parent Consolidated At or for the Nine Months Ended September 30, 2016 Interest income $ 465,592 $ — $ 64 $ 30,171 $ 5,968 $ 501,795 Interest expense 41,153 — — 2,820 5,593 49,566 Net interest income 424,439 — 64 27,351 375 452,229 Provision for credit losses 37,081 — — 4,515 1,451 43,047 Non-interest income 111,507 26,834 11,309 2,198 (1,153 ) 150,695 Non-interest expense 329,578 20,668 9,826 15,904 1,743 377,719 Intangible amortization 9,043 194 371 — — 9,608 Income tax expense (benefit) 48,850 2,168 430 3,558 (2,056 ) 52,950 Net income (loss) 111,394 3,804 746 5,572 (1,916 ) 119,600 Total assets 21,383,500 19,490 21,464 191,524 (32,064 ) 21,583,914 Total intangibles 1,079,196 10,253 12,394 1,809 — 1,103,652 At or for the Nine Months Ended September 30, 2015 Interest income $ 371,366 $ — $ 67 $ 29,467 $ 5,114 $ 406,014 Interest expense 30,580 — — 2,593 1,952 35,125 Net interest income 340,786 — 67 26,874 3,162 370,889 Provision for credit losses 21,974 — — 5,288 515 27,777 Non-interest income 85,281 26,268 9,948 2,124 (4,328 ) 119,293 Non-interest expense 236,324 20,127 10,952 14,785 967 283,155 Intangible amortization 5,601 205 342 — — 6,148 Income tax expense (benefit) 48,744 2,143 (433 ) 3,660 (1,539 ) 52,575 Net income (loss) 113,424 3,793 (846 ) 5,265 (1,109 ) 120,527 Total assets 16,658,489 21,099 22,201 187,721 (53,437 ) 16,836,073 Total intangibles 855,164 10,516 13,069 1,809 — 880,558 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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: (in thousands) Level 1 Level 2 Level 3 Total September 30, 2016 Assets Measured at Fair Value Debt securities available for sale: U.S. Treasury $ — $ 30,004 $ — $ 30,004 U.S. government-sponsored entities — 384,637 — 384,637 Residential mortgage-backed securities: Agency mortgage-backed securities — 1,056,651 — 1,056,651 Agency collateralized mortgage obligations — 554,723 — 554,723 Non-agency collateralized mortgage obligations — 3 932 935 Commercial mortgage-backed securities — 2,816 — 2,816 States of the U.S. and political subdivisions — 37,138 — 37,138 Other debt securities — 9,345 — 9,345 Total debt securities available for sale — 2,075,317 932 2,076,249 Equity securities available for sale: Financial services industry 121 672 436 1,229 Insurance services industry 138 — — 138 Total equity securities available for sale 259 672 436 1,367 Total securities available for sale 259 2,075,989 1,368 2,077,616 Derivative financial instruments: Trading — 91,032 — 91,032 Not for trading — 9,995 — 9,995 Total derivative financial instruments — 101,027 — 101,027 Total assets measured at fair value on a recurring basis $ 259 $ 2,177,016 $ 1,368 $ 2,178,643 Liabilities Measured at Fair Value Derivative financial instruments: Trading — $ 91,992 — $ 91,992 Not for trading — 1,522 — 1,522 Total liabilities measured at fair value on a recurring basis — $ 93,514 — $ 93,514 (in thousands) Level 1 Level 2 Level 3 Total December 31, 2015 Assets Measured at Fair Value Debt securities available for sale: U.S. Treasury $ — $ 29,796 $ — $ 29,796 U.S. government-sponsored entities — 367,994 — 367,994 Residential mortgage-backed securities: Agency mortgage-backed securities — 704,831 — 704,831 Agency collateralized mortgage obligations — 495,830 — 495,830 Non-agency collateralized mortgage obligations — 6 1,184 1,190 Commercial mortgage-backed securities — 4,287 — 4,287 States of the U.S. and political subdivisions — 11,057 — 11,057 Other debt securities — 14,286 — 14,286 Total debt securities available for sale — 1,628,087 1,184 1,629,271 Equity securities available for sale: Financial services industry 97 632 439 1,168 Insurance services industry 128 — — 128 Total equity securities available for sale 225 632 439 1,296 Total securities available for sale 225 1,628,719 1,623 1,630,567 Derivative financial instruments: Trading — 50,017 — 50,017 Not for trading — 3,185 — 3,185 Total derivative financial instruments — 53,202 — 53,202 Total assets measured at fair value on a recurring basis $ 225 $ 1,681,921 $ 1,623 $ 1,683,769 Liabilities Measured at Fair Value Derivative financial instruments: Trading — $ 50,510 — $ 50,510 Not for trading — 1,095 — 1,095 Total liabilities measured at fair value on a recurring basis — $ 51,605 — $ 51,605 |
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: (in thousands) Equity Residential Non-Agency Collateralized Mortgage Obligations Total Nine Months Ended September 30, 2016 Balance at beginning of period $ 439 $ 1,184 $ 1,623 Total gains (losses) – realized/unrealized: Included in earnings — — — Included in other comprehensive income (3 ) (12 ) (15 ) Accretion included in earnings — 5 5 Purchases, issuances, sales and settlements: Purchases — — — Issuances — — — Sales/redemptions — — — Settlements — (245 ) (245 ) Transfers from Level 3 — — — Transfers into Level 3 — — — Balance at end of period $ 436 $ 932 $ 1,368 Year Ended December 31, 2015 Balance at beginning of period $ 475 $ 1,420 $ 1,895 Total gains (losses) – realized/unrealized: Included in earnings — — — Included in other comprehensive income 20 (4 ) 16 Accretion included in earnings — 5 5 Purchases, issuances, sales and settlements: Purchases — — — Issuances — — — Sales/redemptions — — — Settlements — (237 ) (237 ) Transfers from Level 3 (56 ) — (56 ) Transfers into Level 3 — — — Balance at end of period $ 439 $ 1,184 $ 1,623 |
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: (in thousands) Level 1 Level 2 Level 3 Total September 30, 2016 Impaired loans — $ 3,648 $ 7,869 $ 11,517 Other real estate owned — 3,720 3,379 7,099 December 31, 2015 Impaired loans — 124 3,704 3,828 Other real estate owned — 5,705 2,126 7,831 |
Fair Values of Corporation's Financial Instruments | The fair values of the Corporation’s financial instruments are as follows: Fair Value Measurements (in thousands) Carrying Fair Value Level 1 Level 2 Level 3 September 30, 2016 Financial Assets Cash and cash equivalents $ 445,250 $ 445,250 $ 445,250 $ — $ — Securities available for sale 2,077,616 2,077,616 259 2,075,989 1,368 Securities held to maturity 2,249,245 2,278,755 — 2,276,875 1,880 Net loans and leases, including loans held for sale 14,634,414 14,618,539 — — 14,618,539 Derivative assets 101,027 101,027 — 101,027 — Accrued interest receivable 54,871 54,871 54,871 — — Financial Liabilities Deposits 15,976,884 15,985,704 13,414,297 2,571,407 — Short-term borrowings 2,236,105 2,236,341 2,236,341 — — Long-term borrowings 587,500 591,960 — — 591,960 Derivative liabilities 93,514 93,514 — 93,514 — Accrued interest payable 8,708 8,708 8,708 — — December 31, 2015 Financial Assets Cash and cash equivalents $ 489,119 $ 489,119 $ 489,119 $ — $ — Securities available for sale 1,630,567 1,630,567 225 1,628,719 1,623 Securities held to maturity 1,637,061 1,643,416 — 1,640,721 2,695 Net loans and leases, including loans held for sale 12,053,209 11,863,882 — — 11,863,882 Derivative assets 53,202 53,202 — 53,202 — Accrued interest receivable 44,920 44,920 44,920 — — Financial Liabilities Deposits 12,623,463 12,610,914 10,157,997 2,452,917 — Short-term borrowings 2,048,896 2,048,943 2,048,943 — — Long-term borrowings 641,480 637,935 — — 637,935 Derivative liabilities 51,605 51,605 — 51,605 — Accrued interest payable 7,457 7,457 7,457 — — |
Nature of Operations (Additiona
Nature of Operations (Additional Information) (Detail) | 9 Months Ended |
Sep. 30, 2016StateOfficeLocation | |
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 | 77 |
Number of banking offices | 331 |
Mergers and Acquisitions - Addi
Mergers and Acquisitions - Additional Information (Detail) $ in Thousands | Jul. 20, 2016USD ($)shares | Apr. 22, 2016USD ($)Branch | Feb. 13, 2016USD ($)shares | Sep. 18, 2015USD ($)Branch | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) |
Business Acquisition [Line Items] | |||||||||
Goodwill recorded as a result of merger | $ 1,022,006 | $ 1,022,006 | $ 833,086 | ||||||
Merger-related expenses | 299 | $ 1,312 | 35,790 | $ 1,683 | |||||
Fifth Third Bank Branches [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Number of branch-banking locations acquired | Branch | 17 | ||||||||
Deposits acquired as a result of merger | $ 302,529 | ||||||||
Goodwill recorded as a result of merger | 12,300 | ||||||||
Core deposit intangibles recorded as result of the acquisition | 5,952 | ||||||||
Assets acquired as a result of merger | 316,633 | ||||||||
Cash acquired as a result of merger | 198,872 | ||||||||
Loans acquired as a result of merger | 97,740 | ||||||||
Fixed and other assets acquired as a result of merger | $ 14,100 | ||||||||
Percentage of premium on acquired loan | 1.97% | ||||||||
Metro Bancorp Inc [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Deposits acquired as a result of merger | $ 2,328,238 | ||||||||
Goodwill recorded as a result of merger | 176,800 | ||||||||
Core deposit intangibles recorded as result of the acquisition | 36,801 | ||||||||
Assets acquired as a result of merger | 2,798,599 | ||||||||
Cash acquired as a result of merger | 46,890 | ||||||||
Loans acquired as a result of merger | 1,868,873 | ||||||||
Value of acquisition | $ 404,031 | ||||||||
Common shares issued | shares | 34,041,181 | ||||||||
Common shares acquired | shares | 14,345,319 | ||||||||
Merger-related expenses | 30,900 | ||||||||
Issuance costs incurred in connection with acquisition | $ 700 | $ 700 | |||||||
Metro Bancorp Inc [Member] | Merger - Related Expenses [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Severance costs | 40.80% | 40.80% | |||||||
Bank of America Branches [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Number of branch-banking locations acquired | Branch | 5 | ||||||||
Deposits acquired as a result of merger | $ 154,619 | ||||||||
Goodwill recorded as a result of merger | 1,500 | ||||||||
Core deposit intangibles recorded as result of the acquisition | 3,000 | ||||||||
Assets acquired as a result of merger | 153,134 | ||||||||
Cash acquired as a result of merger | 148,159 | ||||||||
Loans acquired as a result of merger | 842 | ||||||||
Fixed and other assets acquired as a result of merger | $ 2,000 | ||||||||
Percentage of premium on acquired loan | 1.96% | ||||||||
Yadkin Financial Corporation (YDKN) [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Assets acquired as a result of merger | $ 7,500,000 | ||||||||
Value of acquisition | $ 1,300,000 | ||||||||
Common shares issued | shares | 111,400,000 | ||||||||
Number of shares entitled to receive as per merger agreement, Ratio | 2.16 | ||||||||
Common shares to be acquired, shares | shares | 51,600,000 |
Mergers and Acquisitions - Busi
Mergers and Acquisitions - Business Acquisition Pro Forma Information (Detail) $ / shares in Units, $ in Thousands | 9 Months Ended |
Sep. 30, 2015USD ($)$ / shares | |
Business Acquisition Pro Forma Information [Line Items] | |
Revenue (net interest income and non-interest income) | $ 588,028 |
Net income | 129,230 |
Net income available to common stockholders | $ 123,200 |
Earnings per common share - basic | $ / shares | $ 0.59 |
Earnings per common share - diluted | $ / shares | $ 0.58 |
F.N.B. Corporation [Member] | |
Business Acquisition Pro Forma Information [Line Items] | |
Revenue (net interest income and non-interest income) | $ 490,182 |
Net income | 120,527 |
Net income available to common stockholders | $ 114,497 |
Earnings per common share - basic | $ / shares | $ 0.65 |
Earnings per common share - diluted | $ / shares | $ 0.65 |
Metro Bancorp Inc [Member] | |
Business Acquisition Pro Forma Information [Line Items] | |
Revenue (net interest income and non-interest income) | $ 101,029 |
Net income | 14,714 |
Net income available to common stockholders | $ 14,654 |
Earnings per common share - basic | $ / shares | $ 1.04 |
Earnings per common share - diluted | $ / shares | $ 1.02 |
Proforma Adjustments [Member] | |
Business Acquisition Pro Forma Information [Line Items] | |
Revenue (net interest income and non-interest income) | $ (3,183) |
Net income | (6,011) |
Net income available to common stockholders | $ (5,951) |
Mergers and Acquisitions - Amou
Mergers and Acquisitions - Amounts Recorded on Consolidated Balance Sheets in Conjunction with Acquisition (Detail) - USD ($) $ in Thousands | Feb. 13, 2016 | Apr. 22, 2016 | Sep. 18, 2015 | |
Fifth Third Bank Branches [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash and cash equivalents | $ 198,872 | |||
Loans | 97,740 | |||
Core deposit intangibles | 5,952 | |||
Other assets | 14,069 | |||
Total identifiable assets acquired | 316,633 | |||
Deposits | 302,529 | |||
Other liabilities | 26,427 | |||
Total liabilities assumed | 328,956 | |||
Fair value of net identifiable assets acquired | (12,323) | |||
Goodwill recognized | [1] | $ 12,323 | ||
Metro Bancorp Inc [Member] | ||||
Business Acquisition [Line Items] | ||||
Fair value of consideration paid | $ 404,031 | |||
Cash and cash equivalents | 46,890 | |||
Securities | 722,980 | |||
Loans | 1,868,873 | |||
Core deposit intangibles | 36,801 | |||
Other assets | 123,055 | |||
Total identifiable assets acquired | 2,798,599 | |||
Deposits | 2,328,238 | |||
Borrowings | 227,539 | |||
Other liabilities | 15,545 | |||
Total liabilities assumed | 2,571,322 | |||
Fair value of net identifiable assets acquired | 227,277 | |||
Goodwill recognized | [1] | $ 176,754 | ||
Bank of America Branches [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash and cash equivalents | $ 148,159 | |||
Loans | 842 | |||
Core deposit intangibles | 3,000 | |||
Other assets | 1,133 | |||
Total identifiable assets acquired | 153,134 | |||
Deposits | 154,619 | |||
Total liabilities assumed | 154,619 | |||
Fair value of net identifiable assets acquired | (1,485) | |||
Goodwill recognized | [1] | $ 1,485 | ||
[1] | All of the goodwill for these transactions has been recorded by FNBPA. |
Securities - Schedule of Amorti
Securities - Schedule of Amortized Cost and Fair Value of Securities Available for Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | $ 2,056,120 | $ 1,636,526 |
Securities Available For Sale, Gross Unrealized Gains | 23,914 | 7,394 |
Securities Available For Sale, Gross Unrealized Losses | (2,418) | (13,353) |
Securities Available For Sale, Fair Value | 2,077,616 | 1,630,567 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 29,839 | 29,738 |
Securities Available For Sale, Gross Unrealized Gains | 165 | 58 |
Securities Available For Sale, Fair Value | 30,004 | 29,796 |
U.S. Government-Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 382,570 | 368,463 |
Securities Available For Sale, Gross Unrealized Gains | 2,106 | 856 |
Securities Available For Sale, Gross Unrealized Losses | (39) | (1,325) |
Securities Available For Sale, Fair Value | 384,637 | 367,994 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 1,039,245 | 703,069 |
Securities Available For Sale, Gross Unrealized Gains | 17,406 | 4,594 |
Securities Available For Sale, Gross Unrealized Losses | (2,832) | |
Securities Available For Sale, Fair Value | 1,056,651 | 704,831 |
Securities Available For Sale, Fair Value | 1,056,651 | |
Agency Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 552,974 | 503,328 |
Securities Available For Sale, Gross Unrealized Gains | 3,517 | 1,032 |
Securities Available For Sale, Gross Unrealized Losses | (1,768) | (8,530) |
Securities Available For Sale, Fair Value | 554,723 | 495,830 |
Securities Available For Sale, Fair Value | 554,723 | |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 934 | 1,177 |
Securities Available For Sale, Gross Unrealized Gains | 1 | 13 |
Securities Available For Sale, Fair Value | 935 | 1,190 |
Securities Available For Sale, Fair Value | 935 | |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 2,817 | 4,299 |
Securities Available For Sale, Gross Unrealized Losses | (1) | (12) |
Securities Available For Sale, Fair Value | 2,816 | 4,287 |
Securities Available For Sale, Fair Value | 2,816 | |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 36,963 | 10,748 |
Securities Available For Sale, Gross Unrealized Gains | 205 | 309 |
Securities Available For Sale, Gross Unrealized Losses | (30) | |
Securities Available For Sale, Fair Value | 37,138 | 11,057 |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 9,803 | 14,729 |
Securities Available For Sale, Gross Unrealized Gains | 122 | 208 |
Securities Available For Sale, Gross Unrealized Losses | (580) | (651) |
Securities Available For Sale, Fair Value | 9,345 | 14,286 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 2,055,145 | 1,635,551 |
Securities Available For Sale, Gross Unrealized Gains | 23,522 | 7,070 |
Securities Available For Sale, Gross Unrealized Losses | (2,418) | (13,350) |
Securities Available For Sale, Fair Value | 2,076,249 | 1,629,271 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 975 | 975 |
Securities Available For Sale, Gross Unrealized Gains | 392 | 324 |
Securities Available For Sale, Gross Unrealized Losses | (3) | |
Securities Available For Sale, Fair Value | 1,367 | $ 1,296 |
Securities Available For Sale, Fair Value | $ 1,367 |
Securities - Schedule of Amor44
Securities - Schedule of Amortized Cost and Fair Value of Securities Held to Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | $ 2,249,245 | $ 1,637,061 |
Securities Held To Maturity, Gross Unrealized Gains | 33,576 | 15,943 |
Securities Held To Maturity, Gross Unrealized Losses | (4,066) | (9,588) |
Securities held to maturity, fair value | 2,278,755 | 1,643,416 |
U.S. Treasury [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 500 | 500 |
Securities Held To Maturity, Gross Unrealized Gains | 192 | 153 |
Securities held to maturity, fair value | 692 | 653 |
U.S. Government-Sponsored Entities [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 272,715 | 137,385 |
Securities Held To Maturity, Gross Unrealized Gains | 1,076 | 809 |
Securities Held To Maturity, Gross Unrealized Losses | (196) | (395) |
Securities held to maturity, fair value | 273,595 | 137,799 |
Agency Mortgage-Backed Securities [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 830,590 | 709,970 |
Securities Held To Maturity, Gross Unrealized Gains | 20,337 | 9,858 |
Securities Held To Maturity, Gross Unrealized Losses | (1,176) | |
Securities held to maturity, fair value | 850,927 | 718,652 |
Agency Collateralized Mortgage Obligations [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 787,120 | 499,694 |
Securities Held To Maturity, Gross Unrealized Gains | 3,927 | 803 |
Securities Held To Maturity, Gross Unrealized Losses | (3,054) | (7,657) |
Securities held to maturity, fair value | 787,993 | 492,840 |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 1,877 | 2,681 |
Securities Held To Maturity, Gross Unrealized Gains | 8 | 14 |
Securities Held To Maturity, Gross Unrealized Losses | (5) | |
Securities held to maturity, fair value | 1,880 | 2,695 |
Commercial Mortgage-Backed Securities [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 50,022 | 51,258 |
Securities Held To Maturity, Gross Unrealized Gains | 1,478 | 115 |
Securities Held To Maturity, Gross Unrealized Losses | (120) | (259) |
Securities held to maturity, fair value | 51,380 | 51,114 |
States of the U.S. and Political Subdivisions [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 306,421 | 235,573 |
Securities Held To Maturity, Gross Unrealized Gains | 6,558 | 4,191 |
Securities Held To Maturity, Gross Unrealized Losses | (691) | (101) |
Securities held to maturity, fair value | $ 312,288 | $ 239,663 |
Securities - Gross Gains and Gr
Securities - Gross Gains and Gross Losses Realized on Sales of Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Gross gains | $ 299 | $ 314 | $ 597 | $ 328 |
Gross losses | (1) | (9) | ||
Net gains | $ 299 | $ 314 | $ 596 | $ 319 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities, by Contractual Maturities (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule Of Securities [Line Items] | ||
Available for Sale, Due in one year or less, Amortized Cost | $ 50,029 | |
Available for Sale, Due from one to five years, Amortized Cost | 377,561 | |
Available for Sale, Due from five to ten years, Amortized Cost | 24,302 | |
Available for Sale, Due after ten years, Amortized Cost | 7,283 | |
Available for Sale, with contractual maturities, Amortized Cost | 459,175 | |
Total securities available for sale, Amortized Cost | 2,056,120 | $ 1,636,526 |
Available for Sale, Due in one year or less, Fair Value | 50,221 | |
Available for Sale, Due from one to five years, Fair Value | 379,721 | |
Available for Sale, Due from five to ten years, Fair Value | 24,482 | |
Available for Sale, Due after ten years, Fair Value | 6,700 | |
Available for Sale, with contractual maturities, Fair Value | 461,124 | |
Total securities available for sale, Fair Value | 2,077,616 | 1,630,567 |
Held to Maturity, Due in one year or less, Amortized Cost | 10,472 | |
Held to Maturity, Due from one to five years, Amortized Cost | 254,105 | |
Held to Maturity, Due from five to ten years, Amortized Cost | 69,863 | |
Held to Maturity, Due after ten years, Amortized Cost | 245,196 | |
Securities Held To Maturity, with contractual maturities, Amortized Cost | 579,636 | |
Held to Maturity, with contractual maturities, Amortized Cost | 2,249,245 | 1,637,061 |
Held to Maturity, Due in one year or less, Fair Value | 10,486 | |
Held to Maturity, Due from one to five years, Fair Value | 255,091 | |
Held to Maturity, Due from five to ten years, Fair Value | 70,901 | |
Held to Maturity, Due after ten years, Fair Value | 250,097 | |
Securities Held To Maturity, with contractual maturities, Fair Value | 586,575 | |
Held to Maturity, with contractual maturities, Fair Value | 2,278,755 | 1,643,416 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 1,039,245 | 703,069 |
Total securities available for sale, Fair Value | 1,056,651 | |
Held to Maturity, with contractual maturities, Amortized Cost | 830,590 | 709,970 |
Held to Maturity, with contractual maturities, Fair Value | 850,927 | 718,652 |
Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 552,974 | 503,328 |
Total securities available for sale, Fair Value | 554,723 | |
Held to Maturity, with contractual maturities, Amortized Cost | 787,120 | 499,694 |
Held to Maturity, with contractual maturities, Fair Value | 787,993 | 492,840 |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 934 | 1,177 |
Total securities available for sale, Fair Value | 935 | |
Held to Maturity, with contractual maturities, Amortized Cost | 1,877 | 2,681 |
Held to Maturity, with contractual maturities, Fair Value | 1,880 | 2,695 |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 2,817 | 4,299 |
Total securities available for sale, Fair Value | 2,816 | |
Held to Maturity, with contractual maturities, Amortized Cost | 50,022 | 51,258 |
Held to Maturity, with contractual maturities, Fair Value | 51,380 | 51,114 |
Equity Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 975 | $ 975 |
Total securities available for sale, Fair Value | $ 1,367 |
Securities - Schedule of Securi
Securities - Schedule of Securities Pledged as Collateral (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financial Instruments Owned and Pledged as Collateral [Abstract] | ||
Securities pledged (carrying value), Collateral for public deposits, trust deposits and for other purposes as required by law | $ 2,876,304 | $ 1,728,939 |
Securities pledged (carrying value), Collateral for short-term borrowings | $ 332,095 | $ 272,629 |
Securities pledged as a percent of total securities | 74.20% | 61.30% |
Securities - Summaries of Fair
Securities - Summaries of Fair Values and Unrealized Losses of Impaired Securities, Segregated by Length of Impairment (Detail) $ in Thousands | Sep. 30, 2016USD ($)Security | Dec. 31, 2015USD ($)Security |
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 23 | 36 |
Number of available for sale securities, Greater than 1 year | Security | 12 | 23 |
Number of available for sale securities | Security | 35 | 59 |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 184,920 | $ 589,609 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (360) | (5,027) |
Securities Available For Sale, 12 Months or More, Fair Value | 100,827 | 254,062 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (2,058) | (8,326) |
Securities Available For Sale, Fair Value, Total | 285,747 | 843,671 |
Securities Available For Sale, Unrealized Losses, Total | $ (2,418) | $ (13,353) |
Number of held to maturity securities | Security | 42 | 59 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 403,254 | $ 466,354 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (2,635) | (3,126) |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 121,880 | 176,411 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | (1,431) | (6,462) |
Securities Held To Maturity, Fair Value, Total | 525,134 | 642,765 |
Securities Held To Maturity, Unrealized Losses, Total | $ (4,066) | $ (9,588) |
Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 30 | 43 |
Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 12 | 16 |
U.S. Government-Sponsored Entities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 2 | 6 |
Number of available for sale securities, Greater than 1 year | Security | 2 | |
Number of available for sale securities | Security | 2 | 8 |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 39,961 | $ 99,131 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (39) | (814) |
Securities Available For Sale, 12 Months or More, Fair Value | 34,487 | |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (511) | |
Securities Available For Sale, Fair Value, Total | 39,961 | 133,618 |
Securities Available For Sale, Unrealized Losses, Total | $ (39) | $ (1,325) |
Number of held to maturity securities | Security | 2 | 4 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 39,804 | $ 39,843 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (196) | (173) |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 14,778 | |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | (222) | |
Securities Held To Maturity, Fair Value, Total | 39,804 | 54,621 |
Securities Held To Maturity, Unrealized Losses, Total | $ (196) | $ (395) |
U.S. Government-Sponsored Entities [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 2 | 3 |
U.S. Government-Sponsored Entities [Member] | Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 1 | |
Agency Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 19 | |
Number of available for sale securities | Security | 19 | |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 359,250 | |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (2,832) | |
Securities Available For Sale, Fair Value, Total | 359,250 | |
Securities Available For Sale, Unrealized Losses, Total | $ (2,832) | |
Number of held to maturity securities | Security | 18 | |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 212,024 | |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (1,159) | |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 917 | |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | (17) | |
Securities Held To Maturity, Fair Value, Total | 212,941 | |
Securities Held To Maturity, Unrealized Losses, Total | $ (1,176) | |
Agency Mortgage-Backed Securities [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 17 | |
Agency Mortgage-Backed Securities [Member] | Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 1 | |
Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 9 | 9 |
Number of available for sale securities, Greater than 1 year | Security | 9 | 18 |
Number of available for sale securities | Security | 18 | 27 |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 127,838 | $ 126,309 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (290) | (1,366) |
Securities Available For Sale, 12 Months or More, Fair Value | 96,505 | 215,330 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (1,478) | (7,164) |
Securities Available For Sale, Fair Value, Total | 224,343 | 341,639 |
Securities Available For Sale, Unrealized Losses, Total | $ (1,768) | $ (8,530) |
Number of held to maturity securities | Security | 24 | 25 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 317,349 | $ 150,593 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (1,623) | (1,434) |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 121,880 | 160,716 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | (1,431) | (6,223) |
Securities Held To Maturity, Fair Value, Total | 439,229 | 311,309 |
Securities Held To Maturity, Unrealized Losses, Total | $ (3,054) | $ (7,657) |
Agency Collateralized Mortgage Obligations [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 12 | 11 |
Agency Collateralized Mortgage Obligations [Member] | Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 12 | 14 |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 3 | |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 1,239 | |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (5) | |
Securities Held To Maturity, Fair Value, Total | 1,239 | |
Securities Held To Maturity, Unrealized Losses, Total | $ (5) | |
Non-Agency Collateralized Mortgage Obligations [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 3 | |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 1 | 1 |
Number of available for sale securities | Security | 1 | 1 |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 2,817 | $ 4,287 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (1) | (12) |
Securities Available For Sale, Fair Value, Total | 2,817 | 4,287 |
Securities Available For Sale, Unrealized Losses, Total | $ (1) | $ (12) |
Number of held to maturity securities | Security | 1 | 3 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 8,415 | $ 46,278 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (120) | (259) |
Securities Held To Maturity, Fair Value, Total | 8,415 | 46,278 |
Securities Held To Maturity, Unrealized Losses, Total | $ (120) | $ (259) |
Commercial Mortgage-Backed Securities [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 1 | 3 |
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 | 11 | |
Number of available for sale securities | Security | 11 | |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 14,304 | |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (30) | |
Securities Available For Sale, Fair Value, Total | 14,304 | |
Securities Available For Sale, Unrealized Losses, Total | $ (30) | |
Number of held to maturity securities | Security | 12 | 9 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 36,447 | $ 17,616 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (691) | (101) |
Securities Held To Maturity, Fair Value, Total | 36,447 | 17,616 |
Securities Held To Maturity, Unrealized Losses, Total | $ (691) | $ (101) |
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 | 12 | 9 |
Other Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Greater than 1 year | Security | 3 | 3 |
Number of available for sale securities | Security | 3 | 3 |
Securities Available For Sale, 12 Months or More, Fair Value | $ 4,322 | $ 4,245 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (580) | (651) |
Securities Available For Sale, Fair Value, Total | 4,322 | 4,245 |
Securities Available For Sale, Unrealized Losses, Total | $ (580) | $ (651) |
Equity 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 | $ 632 | |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (3) | |
Securities Available For Sale, Fair Value, Total | 632 | |
Securities Available For Sale, Unrealized Losses, Total | $ (3) |
Securities - Summary of Cumulat
Securities - Summary of Cumulative Credit-Related OTTI Charges (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
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 |
Reduction due to credit impaired securities sold | 0 | 0 |
Ending balance | 27 | 27 |
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 |
Reduction due to credit impaired securities sold | 0 | 0 |
Ending balance | $ 27 | $ 27 |
Securities - Additional Informa
Securities - Additional Information (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Schedule Of Securities [Line Items] | ||
Impairment losses on securities | $ 0 | $ 0 |
Municipal bond portfolio, carrying amount | $ 343,600,000 | |
Percentage of formal credit enhancement insurance of municipalities | 79.20% | |
Municipal Bonds [Member] | Weighted Average [Member] | ||
Schedule Of Securities [Line Items] | ||
Average holding size of securities in bond portfolio | $ 1,900,000 | |
Municipal Bonds [Member] | Credit Concentration Risk [Member] | General Obligation Bonds [Member] | ||
Schedule Of Securities [Line Items] | ||
Percentage of portfolio | 99.90% | |
Municipal Bonds [Member] | Credit Concentration Risk [Member] | General Obligation Bonds [Member] | A Rating [Member] | Minimum [Member] | ||
Schedule Of Securities [Line Items] | ||
Percentage of portfolio | 99.00% | |
Municipal Bonds [Member] | Geographic Concentration Risk [Member] | Pennsylvania, Ohio and Maryland [Member] | ||
Schedule Of Securities [Line Items] | ||
Percentage of portfolio | 92.60% |
Loans and Leases - Summary of L
Loans and Leases - Summary of Loans and Leases, Net of Unearned Income (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | $ 14,773,446 | $ 12,190,440 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 5,367,291 | 4,109,056 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 3,088,405 | 2,601,722 |
Commercial Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 195,271 | 204,553 |
Total Commercial Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 8,650,967 | 6,915,331 |
Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,837,395 | 1,706,636 |
Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,779,867 | 1,395,971 |
Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,150,812 | 996,729 |
Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,303,223 | 1,137,255 |
Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 51,182 | 38,518 |
Originated Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 12,206,285 | 11,031,979 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 3,918,575 | 3,531,146 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 2,696,210 | 2,534,351 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 195,271 | 204,553 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 6,810,056 | 6,270,050 |
Originated Loans and Leases [Member] | Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,750,189 | 1,660,717 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,355,476 | 1,044,689 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,150,575 | 996,175 |
Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,088,807 | 1,021,830 |
Originated Loans and Leases [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 51,182 | 38,518 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 2,567,161 | 1,158,461 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,448,716 | 577,910 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 392,195 | 67,371 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,840,911 | 645,281 |
Acquired Loans [Member] | Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 87,206 | 45,919 |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 424,391 | 351,282 |
Acquired Loans [Member] | Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 237 | 554 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | $ 214,416 | $ 115,425 |
Loans and Leases - Certain Info
Loans and Leases - Certain Information Relating to Regency Consumer Finance Loans (Detail) - Consumer Lines of Credit [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Loans and Leases Receivable Disclosure [Line Items] | ||
Regency consumer finance loans | $ 182,527 | $ 186,162 |
Loan Portfolio Diversification Risk [Member] | Loans and Leases Receivable Net of Deferred Income [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Percent of total loans and leases | 1.20% | 1.50% |
Loans and Leases - Certain In53
Loans and Leases - Certain Information Relating to Commercial Real Estate Loans (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Loans and Leases Receivable Disclosure [Line Items] | ||
Commercial construction loans | $ 454,239 | $ 352,322 |
Credit Concentration Risk [Member] | Commercial Construction Loans [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Percent of total loans and leases | 3.10% | 2.90% |
Loan Portfolio Diversification Risk [Member] | Commercial Real Estate Loans [Member] | Owner-Occupied [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Percent of total loans and leases | 36.30% | 38.10% |
Loan Portfolio Diversification Risk [Member] | Commercial Real Estate Loans [Member] | Non-Owner-Occupied [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Percent of total loans and leases | 63.70% | 61.90% |
Loans and Leases - Summary of O
Loans and Leases - Summary of Outstanding Principal Balance and Carrying Amount of Acquired Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount | $ 14,773,446 | $ 12,190,440 |
Accounted for under ASC 310-30 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 2,534,180 | 1,258,418 |
Carrying amount | 2,206,380 | 1,011,139 |
Accounted for under ASC 310-20 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 372,419 | 146,161 |
Carrying amount | 354,400 | 140,595 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 2,906,599 | 1,404,579 |
Carrying amount | $ 2,560,780 | $ 1,151,734 |
Loans and Leases - Additional I
Loans and Leases - Additional Information (Detail) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Feb. 13, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Carrying amount | $ 14,773,446,000 | $ 12,190,440,000 | $ 14,773,446,000 | $ 12,190,440,000 | ||
Reclassification from non-accretable difference | $ 66,807,000 | $ 24,489,000 | ||||
Loans acquired and accounted for under ASC 310-30, Fair value | $ 1,665,548,000 | |||||
Loans acquired and accounted for under ASC 310-30, Contractual cash flows not expected to be collected | 2,291,087,000 | |||||
Sustained period of delinquency for impairment evaluation | 90 days | |||||
Minimum reserves for commercial loan | 500,000 | $ 500,000 | ||||
Minimum amount to allocate specific valuation allowance | 500,000 | 500,000 | ||||
Restructured loans returned to performing status | 4,900,000 | |||||
Valuation for impairment of loans with pooled reserves | 500,000 | 500,000 | 500,000 | 500,000 | ||
Pooled reserves for all other classes of loans | 3,600,000 | 3,500,000 | ||||
Loan Purchased not Subject to ASC 310-30 [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans acquired and accounted for under ASC 310-30, Fair value | 292,300,000 | |||||
Loans acquired and accounted for under ASC 310-30, Unpaid principal balance | 315,100,000 | |||||
Loans acquired and accounted for under ASC 310-30, Contractual cash flows not expected to be collected | $ 103,000,000 | |||||
Purchased Credit-Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Carrying amount | $ 2,900,000 | $ 5,900,000 | $ 2,900,000 | 5,900,000 | ||
Credit Concentration Risk [Member] | Acquired Loans Receivable [Member] | Purchased Credit-Impaired Loans [Member] | Maximum [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Percentage of portfolio | 1.00% | 1.00% | ||||
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 | |||||
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 | $ 5,100,000 | $ 5,200,000 | $ 5,100,000 | 5,200,000 | ||
Mortgage loans on real estate, foreclosure | $ 9,500,000 | $ 11,700,000 |
Loans and Leases - Summary of C
Loans and Leases - Summary of Change in Accretable Yield of Acquired Loans (Detail) - USD ($) $ in Thousands | Feb. 13, 2016 | Sep. 30, 2016 | Sep. 30, 2015 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period [Abstract] | |||
Balance at beginning of period | $ 256,120 | $ 331,899 | |
Acquisitions | 308,311 | ||
Reduction due to unexpected early payoffs | (60,920) | (35,601) | |
Reclass from non-accretable difference | 66,807 | 24,489 | |
Disposals/transfers | (343) | (509) | |
Accretion | $ (308,311) | (77,180) | (46,207) |
Balance at end of period | $ 492,795 | $ 274,071 |
Loans and Leases - Summary of A
Loans and Leases - Summary of Acquisition of Purchased Loans (Detail) - USD ($) $ in Thousands | Feb. 13, 2016 | Sep. 30, 2016 | Sep. 30, 2015 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Contractually required cash flows at acquisition | $ 2,291,087 | ||
Non-accretable difference (expected losses and foregone interest) | (317,228) | ||
Cash flows expected to be collected at acquisition | 1,973,859 | ||
Accretable yield | (308,311) | $ (77,180) | $ (46,207) |
Basis in acquired loans at acquisition | 1,665,548 | ||
Acquired Impaired Loans [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Contractually required cash flows at acquisition | 99,611 | ||
Non-accretable difference (expected losses and foregone interest) | (52,995) | ||
Cash flows expected to be collected at acquisition | 46,616 | ||
Accretable yield | (1,063) | ||
Basis in acquired loans at acquisition | 45,553 | ||
Acquired Performing Loans [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Contractually required cash flows at acquisition | 2,191,476 | ||
Non-accretable difference (expected losses and foregone interest) | (264,233) | ||
Cash flows expected to be collected at acquisition | 1,927,243 | ||
Accretable yield | (307,248) | ||
Basis in acquired loans at acquisition | $ 1,619,995 |
Loans and Leases - Summary of N
Loans and Leases - Summary of Non-Performing Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled debt restructurings | $ 46,975 | $ 45,500 |
Non-Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 74,828 | 49,897 |
Troubled debt restructurings | 20,638 | 22,028 |
Total non-performing loans | 95,466 | 71,925 |
Other real estate owned (OREO) | 40,523 | 38,918 |
Total non-performing assets | $ 135,989 | $ 110,843 |
Non-performing loans / total loans and leases | 0.65% | 0.59% |
Non-performing loans + OREO / total loans and leases + OREO | 0.92% | 0.91% |
Non-performing assets / of total assets | 0.63% | 0.63% |
Loans and Leases - Age Analysis
Loans and Leases - Age Analysis of Past Due Loans, by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 14,773,446 | $ 12,190,440 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 5,367,291 | 4,109,056 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 3,088,405 | 2,601,722 |
Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 195,271 | 204,553 |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 8,650,967 | 6,915,331 |
Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,837,395 | 1,706,636 |
Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,779,867 | 1,395,971 |
Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,150,812 | 996,729 |
Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,303,223 | 1,137,255 |
Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 51,182 | 38,518 |
Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 43,071 | 46,683 |
> 90 Days Past Due and Still Accruing | 6,906 | 7,024 |
Non-Accrual | 71,498 | 48,774 |
Total Past Due | 121,475 | 102,481 |
Current | 12,084,810 | 10,929,498 |
Total Loans | 12,206,285 | 11,031,979 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 7,971 | 11,006 |
> 90 Days Past Due and Still Accruing | 1 | 1 |
Non-Accrual | 18,186 | 23,503 |
Total Past Due | 26,158 | 34,510 |
Current | 3,892,417 | 3,496,636 |
Total Loans | 3,918,575 | 3,531,146 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 5,479 | 5,409 |
> 90 Days Past Due and Still Accruing | 3 | 3 |
Non-Accrual | 36,174 | 14,382 |
Total Past Due | 41,656 | 19,794 |
Current | 2,654,554 | 2,514,557 |
Total Loans | 2,696,210 | 2,534,351 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 1,106 | 924 |
Non-Accrual | 3,359 | 659 |
Total Past Due | 4,465 | 1,583 |
Current | 190,806 | 202,970 |
Total Loans | 195,271 | 204,553 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 14,556 | 17,339 |
> 90 Days Past Due and Still Accruing | 4 | 4 |
Non-Accrual | 57,719 | 38,544 |
Total Past Due | 72,279 | 55,887 |
Current | 6,737,777 | 6,214,163 |
Total Loans | 6,810,056 | 6,270,050 |
Originated Loans and Leases [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 9,003 | 9,254 |
> 90 Days Past Due and Still Accruing | 3,502 | 3,813 |
Non-Accrual | 6,368 | 4,806 |
Total Past Due | 18,873 | 17,873 |
Current | 1,731,316 | 1,642,844 |
Total Loans | 1,750,189 | 1,660,717 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 9,550 | 8,135 |
> 90 Days Past Due and Still Accruing | 2,454 | 1,470 |
Non-Accrual | 3,106 | 2,882 |
Total Past Due | 15,110 | 12,487 |
Current | 1,340,366 | 1,032,202 |
Total Loans | 1,355,476 | 1,044,689 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 6,468 | 9,472 |
> 90 Days Past Due and Still Accruing | 467 | 379 |
Non-Accrual | 1,741 | 1,361 |
Total Past Due | 8,676 | 11,212 |
Current | 1,141,899 | 984,963 |
Total Loans | 1,150,575 | 996,175 |
Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 3,467 | 2,410 |
> 90 Days Past Due and Still Accruing | 408 | 1,189 |
Non-Accrual | 1,564 | 1,181 |
Total Past Due | 5,439 | 4,780 |
Current | 1,083,368 | 1,017,050 |
Total Loans | 1,088,807 | 1,021,830 |
Originated Loans and Leases [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 27 | 73 |
> 90 Days Past Due and Still Accruing | 71 | 169 |
Non-Accrual | 1,000 | |
Total Past Due | 1,098 | 242 |
Current | 50,084 | 38,276 |
Total Loans | 51,182 | 38,518 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 29,087 | 15,034 |
> 90 Days Past Due and Still Accruing | 42,584 | 29,718 |
Non-Accrual | 3,330 | 1,123 |
Total Past Due | 75,001 | 45,875 |
Current | 2,646,516 | 1,193,517 |
Discount | (154,356) | (80,931) |
Total Loans | 2,567,161 | 1,158,461 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 14,576 | 6,399 |
> 90 Days Past Due and Still Accruing | 25,048 | 12,752 |
Non-Accrual | 1,754 | 931 |
Total Past Due | 41,378 | 20,082 |
Current | 1,489,415 | 593,128 |
Discount | (82,077) | (35,300) |
Total Loans | 1,448,716 | 577,910 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 1,283 | 1,065 |
> 90 Days Past Due and Still Accruing | 2,941 | 616 |
Non-Accrual | 1,153 | 103 |
Total Past Due | 5,377 | 1,784 |
Current | 418,122 | 72,037 |
Discount | (31,304) | (6,450) |
Total Loans | 392,195 | 67,371 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 15,859 | 7,464 |
> 90 Days Past Due and Still Accruing | 27,989 | 13,368 |
Non-Accrual | 2,907 | 1,034 |
Total Past Due | 46,755 | 21,866 |
Current | 1,907,537 | 665,165 |
Discount | (113,381) | (41,750) |
Total Loans | 1,840,911 | 645,281 |
Acquired Loans [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 2,712 | 837 |
> 90 Days Past Due and Still Accruing | 947 | 659 |
Total Past Due | 3,659 | 1,496 |
Current | 81,332 | 43,596 |
Discount | 2,215 | 827 |
Total Loans | 87,206 | 45,919 |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 8,224 | 5,871 |
> 90 Days Past Due and Still Accruing | 12,625 | 15,136 |
Total Past Due | 20,849 | 21,007 |
Current | 442,023 | 366,742 |
Discount | (38,481) | (36,467) |
Total Loans | 424,391 | 351,282 |
Acquired Loans [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 4 | 32 |
> 90 Days Past Due and Still Accruing | 3 | 9 |
Total Past Due | 7 | 41 |
Current | 169 | 571 |
Discount | 61 | (58) |
Total Loans | 237 | 554 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 2,288 | 830 |
> 90 Days Past Due and Still Accruing | 1,020 | 546 |
Non-Accrual | 423 | 89 |
Total Past Due | 3,731 | 1,465 |
Current | 215,455 | 117,443 |
Discount | (4,770) | (3,483) |
Total Loans | $ 214,416 | $ 115,425 |
Loans and Leases - Summary of60
Loans and Leases - Summary of Commercial Loans and Leases by Credit Quality (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | $ 14,773,446 | $ 12,190,440 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 5,367,291 | 4,109,056 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,088,405 | 2,601,722 |
Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 195,271 | 204,553 |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 8,650,967 | 6,915,331 |
Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 12,206,285 | 11,031,979 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,918,575 | 3,531,146 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,696,210 | 2,534,351 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 195,271 | 204,553 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 6,810,056 | 6,270,050 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,567,161 | 1,158,461 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 1,448,716 | 577,910 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 392,195 | 67,371 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 1,840,911 | 645,281 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,737,877 | 3,416,527 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,466,207 | 2,335,103 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 186,357 | 198,207 |
Pass [Member] | Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 6,390,441 | 5,949,837 |
Pass [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 1,249,051 | 464,162 |
Pass [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 336,545 | 56,446 |
Pass [Member] | Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 1,585,596 | 520,608 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 120,184 | 52,887 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 85,586 | 109,539 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,446 | 2,447 |
Special Mention [Member] | Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 210,216 | 164,873 |
Special Mention [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 75,085 | 47,619 |
Special Mention [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 13,110 | 3,182 |
Special Mention [Member] | Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 88,195 | 50,801 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 59,964 | 61,411 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 135,322 | 87,380 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,468 | 3,899 |
Substandard [Member] | Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 199,754 | 152,690 |
Substandard [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 123,560 | 66,129 |
Substandard [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 42,024 | 7,743 |
Substandard [Member] | Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 165,584 | 73,872 |
Doubtful [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 550 | 321 |
Doubtful [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 9,095 | 2,329 |
Doubtful [Member] | Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 9,645 | $ 2,650 |
Doubtful [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 1,020 | |
Doubtful [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 516 | |
Doubtful [Member] | Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | $ 1,536 |
Loans and Leases - Summary of61
Loans and Leases - Summary of Consumer Loans by Payment Status (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Credit Quality [Line Items] | ||
Total Loans | $ 14,773,446 | $ 12,190,440 |
Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 5,363,192 | 4,731,813 |
Non Performing Consumer Originated [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 33,037 | 30,116 |
Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,837,395 | 1,706,636 |
Direct Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 1,735,117 | 1,646,925 |
Direct Installment [Member] | Non Performing Consumer Originated [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 15,072 | 13,792 |
Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,779,867 | 1,395,971 |
Residential Mortgages [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 1,342,077 | 1,031,926 |
Residential Mortgages [Member] | Non Performing Consumer Originated [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 13,399 | 12,763 |
Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,150,812 | 996,729 |
Indirect Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 1,148,649 | 994,661 |
Indirect Installment [Member] | Non Performing Consumer Originated [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 1,926 | 1,514 |
Consumer Lines of Credit [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 1,086,167 | 1,019,783 |
Consumer Lines of Credit [Member] | Non Performing Consumer Originated [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 2,640 | 2,047 |
Other [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 51,182 | 38,518 |
Other [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 51,182 | 38,518 |
Originated Consumer Loans [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 5,396,229 | 4,761,929 |
Originated Consumer Loans [Member] | Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,750,189 | 1,660,717 |
Originated Consumer Loans [Member] | Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,355,476 | 1,044,689 |
Originated Consumer Loans [Member] | Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,150,575 | 996,175 |
Originated Consumer Loans [Member] | Consumer Lines of Credit [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,088,807 | 1,021,830 |
Originated Consumer Loans [Member] | Other [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | $ 51,182 | $ 38,518 |
Loans and Leases - Summary of I
Loans and Leases - Summary of Impaired Loans and Lease, by Class (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | $ 104,086 | $ 84,525 |
Recorded Investment With No Specific Reserve | 70,107 | 64,374 |
Recorded Investment With Specific Reserve | 20,242 | 6,315 |
Total Recorded Investment | 90,349 | 70,689 |
Specific Reserve | 9,645 | 2,650 |
Average Recorded Investment | 87,601 | 68,950 |
Commercial Real Estate [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 20,836 | 33,780 |
Recorded Investment With No Specific Reserve | 15,057 | 24,423 |
Recorded Investment With Specific Reserve | 3,214 | 772 |
Total Recorded Investment | 18,271 | 25,195 |
Specific Reserve | 550 | 321 |
Average Recorded Investment | 21,677 | 26,143 |
Commercial and Industrial [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 41,296 | 15,860 |
Recorded Investment With No Specific Reserve | 18,654 | 9,176 |
Recorded Investment With Specific Reserve | 17,028 | 5,543 |
Total Recorded Investment | 35,682 | 14,719 |
Specific Reserve | 9,095 | 2,329 |
Average Recorded Investment | 31,603 | 12,298 |
Commercial Leases [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 3,359 | 659 |
Recorded Investment With No Specific Reserve | 3,359 | 659 |
Total Recorded Investment | 3,359 | 659 |
Average Recorded Investment | 1,514 | 747 |
Total Commercial Loans and Leases [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 65,491 | 50,299 |
Recorded Investment With No Specific Reserve | 37,070 | 34,258 |
Recorded Investment With Specific Reserve | 20,242 | 6,315 |
Total Recorded Investment | 57,312 | 40,573 |
Specific Reserve | 9,645 | 2,650 |
Average Recorded Investment | 54,794 | 39,188 |
Direct Installment [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 16,465 | 14,679 |
Recorded Investment With No Specific Reserve | 15,072 | 13,792 |
Total Recorded Investment | 15,072 | 13,792 |
Average Recorded Investment | 14,972 | 13,267 |
Residential Mortgages [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 14,049 | 13,394 |
Recorded Investment With No Specific Reserve | 13,399 | 12,763 |
Total Recorded Investment | 13,399 | 12,763 |
Average Recorded Investment | 13,164 | 12,896 |
Indirect Installment [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 4,668 | 3,745 |
Recorded Investment With No Specific Reserve | 1,926 | 1,514 |
Total Recorded Investment | 1,926 | 1,514 |
Average Recorded Investment | 1,846 | 1,401 |
Consumer Lines of Credit [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 3,413 | 2,408 |
Recorded Investment With No Specific Reserve | 2,640 | 2,047 |
Total Recorded Investment | 2,640 | 2,047 |
Average Recorded Investment | $ 2,825 | $ 2,198 |
Loans and Leases - Additional A
Loans and Leases - Additional Allowance for Credit Losses Relating to Acquired Loans (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses | $ 6,381 | $ 6,727 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses | 3,631 | 3,073 |
Commercial and Industrial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses | 493 | 695 |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses | 4,124 | 3,768 |
Direct Installment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses | 1,110 | 1,557 |
Residential Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses | 659 | 659 |
Indirect Installment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses | 221 | 221 |
Consumer Lines of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses | $ 267 | $ 522 |
Loans and Leases - Summary of P
Loans and Leases - Summary of Payment Status of Originated TDRs (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | $ 46,975 | $ 45,500 |
Performing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 17,030 | 15,165 |
Non-Performing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 20,638 | 22,028 |
Non-Accrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | $ 9,307 | $ 8,307 |
Loans and Leases - Reserve for
Loans and Leases - Reserve for Commercial TDRs Included in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Modifications [Line Items] | ||||||
Reserves in allowance for loan losses, TDRs | $ 156,894 | $ 154,369 | $ 142,012 | $ 136,183 | $ 131,141 | $ 125,926 |
Total Commercial Loans and Leases [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Reserves in allowance for loan losses, TDRs | 99,282 | $ 98,950 | 85,305 | $ 79,501 | $ 74,400 | $ 72,631 |
Specific Reserves [Member] | Total Commercial Loans and Leases [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Reserves in allowance for loan losses, TDRs | 608 | 300 | ||||
Pooled Reserves for Individual Loans [Member] | Total Commercial Loans and Leases [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Reserves in allowance for loan losses, TDRs | $ 302 | $ 929 |
Loans and Leases - Reserve fo66
Loans and Leases - Reserve for Commercial TDRs Included in Allowance for Credit Losses (Parenthetical) (Detail) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Receivables [Abstract] | ||
Valuation for impairment of loans with pooled reserves | $ 500,000 | $ 500,000 |
Loans and Leases - Summary of T
Loans and Leases - Summary of Troubled Debt Restructurings by Class of Loans (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016USD ($)Contract | Sep. 30, 2015USD ($)Contract | Sep. 30, 2016USD ($)Contract | Sep. 30, 2015USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 164 | 144 | 501 | 448 |
Pre-Modification Outstanding Recorded Investment | $ 3,459 | $ 2,148 | $ 10,420 | $ 7,138 |
Post-Modification Outstanding Recorded Investment | $ 3,440 | $ 2,112 | $ 9,760 | $ 6,731 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 4 | 2 | ||
Pre-Modification Outstanding Recorded Investment | $ 778 | $ 312 | ||
Post-Modification Outstanding Recorded Investment | $ 737 | $ 168 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 3 | 3 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 1,504 | $ 1,727 | $ 5 | |
Post-Modification Outstanding Recorded Investment | $ 1,504 | $ 1,504 | $ 4 | |
Total Commercial Loans and Leases [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 3 | 7 | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 1,504 | $ 2,505 | $ 317 | |
Post-Modification Outstanding Recorded Investment | $ 1,504 | $ 2,241 | $ 172 | |
Direct Installment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 123 | 121 | 388 | 361 |
Pre-Modification Outstanding Recorded Investment | $ 1,029 | $ 1,757 | $ 5,051 | $ 5,064 |
Post-Modification Outstanding Recorded Investment | $ 1,018 | $ 1,726 | $ 4,749 | $ 4,835 |
Residential Mortgages [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 9 | 10 | 36 | 31 |
Pre-Modification Outstanding Recorded Investment | $ 508 | $ 232 | $ 1,946 | $ 1,048 |
Post-Modification Outstanding Recorded Investment | $ 532 | $ 233 | $ 1,893 | $ 1,074 |
Indirect Installment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 9 | 3 | 14 | 13 |
Pre-Modification Outstanding Recorded Investment | $ 23 | $ 13 | $ 40 | $ 43 |
Post-Modification Outstanding Recorded Investment | $ 22 | $ 10 | $ 40 | $ 40 |
Consumer Lines of Credit [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 20 | 10 | 56 | 40 |
Pre-Modification Outstanding Recorded Investment | $ 395 | $ 146 | $ 878 | $ 666 |
Post-Modification Outstanding Recorded Investment | $ 364 | $ 143 | $ 837 | $ 610 |
Loans and Leases - Summary of68
Loans and Leases - Summary of Originated Troubled Debt Restructurings by Class of Loans and Leases, Payment Default (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016USD ($)Contract | Sep. 30, 2015USD ($)Contract | Sep. 30, 2016USD ($)Contract | Sep. 30, 2015USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 38 | 25 | 98 | 88 |
Recorded Investment | $ | $ 641 | $ 168 | $ 769 | $ 657 |
Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | |||
Recorded Investment | $ | $ 204 | |||
Total Commercial Loans and Leases [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | |||
Recorded Investment | $ | $ 204 | |||
Direct Installment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 26 | 22 | 76 | 75 |
Recorded Investment | $ | $ 408 | $ 87 | $ 377 | $ 254 |
Residential Mortgages [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 5 | 2 | 7 | 5 |
Recorded Investment | $ | $ 189 | $ 75 | $ 282 | $ 179 |
Indirect Installment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 6 | 1 | 12 | 6 |
Recorded Investment | $ | $ 19 | $ 6 | $ 19 | $ 12 |
Consumer Lines of Credit [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 3 | 1 | |
Recorded Investment | $ | $ 25 | $ 91 | $ 8 |
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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | $ 154,369 | $ 131,141 | $ 142,012 | $ 125,926 |
Charge- Offs | (16,187) | (7,634) | (36,985) | (22,710) |
Recoveries | 4,073 | 1,899 | 8,820 | 5,190 |
Net Charge- Offs | (12,114) | (5,735) | (28,165) | (17,520) |
Provision for credit losses | 14,639 | 10,777 | 43,047 | 27,777 |
Balance at End of Period | 156,894 | 136,183 | 156,894 | 136,183 |
Originated Loans and Leases [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 148,719 | 124,196 | 135,285 | 117,952 |
Charge- Offs | (15,947) | (7,481) | (35,899) | (21,948) |
Recoveries | 3,669 | 1,617 | 7,831 | 4,518 |
Net Charge- Offs | (12,278) | (5,864) | (28,068) | (17,430) |
Provision for credit losses | 14,072 | 11,287 | 43,296 | 29,097 |
Balance at End of Period | 150,513 | 129,619 | 150,513 | 129,619 |
Acquired Loans [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 5,650 | 6,945 | 6,727 | 7,974 |
Charge- Offs | (240) | (153) | (1,086) | (762) |
Recoveries | 404 | 282 | 989 | 672 |
Net Charge- Offs | 164 | 129 | (97) | (90) |
Provision for credit losses | 567 | (510) | (249) | (1,320) |
Balance at End of Period | 6,381 | 6,564 | 6,381 | 6,564 |
Commercial Real Estate [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 44,428 | 39,872 | 41,741 | 37,588 |
Charge- Offs | (3,537) | (1,259) | (5,572) | (3,237) |
Recoveries | 1,810 | 370 | 3,516 | 779 |
Net Charge- Offs | (1,727) | (889) | (2,056) | (2,458) |
Provision for credit losses | (334) | 2,870 | 2,682 | 6,723 |
Balance at End of Period | 42,367 | 41,853 | 42,367 | 41,853 |
Commercial and Industrial [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 51,475 | 32,305 | 41,023 | 32,645 |
Charge- Offs | (6,753) | (584) | (12,722) | (2,684) |
Recoveries | 598 | 290 | 978 | 1,386 |
Net Charge- Offs | (6,155) | (294) | (11,744) | (1,298) |
Provision for credit losses | 8,388 | 3,223 | 24,429 | 3,887 |
Balance at End of Period | 53,708 | 35,234 | 53,708 | 35,234 |
Commercial Leases [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 3,047 | 2,223 | 2,541 | 2,398 |
Charge- Offs | (100) | (124) | (817) | (328) |
Recoveries | 3 | 50 | 49 | 95 |
Net Charge- Offs | (97) | (74) | (768) | (233) |
Provision for credit losses | 257 | 265 | 1,434 | 249 |
Balance at End of Period | 3,207 | 2,414 | 3,207 | 2,414 |
Total Commercial Loans and Leases [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 98,950 | 74,400 | 85,305 | 72,631 |
Charge- Offs | (10,390) | (1,967) | (19,111) | (6,249) |
Recoveries | 2,411 | 710 | 4,543 | 2,260 |
Net Charge- Offs | (7,979) | (1,257) | (14,568) | (3,989) |
Provision for credit losses | 8,311 | 6,358 | 28,545 | 10,859 |
Balance at End of Period | 99,282 | 79,501 | 99,282 | 79,501 |
Direct Installment [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 21,543 | 22,279 | 21,587 | 20,538 |
Charge- Offs | (2,464) | (2,722) | (7,552) | (8,108) |
Recoveries | 545 | 565 | 1,453 | 1,131 |
Net Charge- Offs | (1,919) | (2,157) | (6,099) | (6,977) |
Provision for credit losses | 1,463 | 1,214 | 5,599 | 7,775 |
Balance at End of Period | 21,087 | 21,336 | 21,087 | 21,336 |
Residential Mortgages [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 8,410 | 8,579 | 7,909 | 8,024 |
Charge- Offs | (144) | (268) | (301) | (891) |
Recoveries | 11 | 14 | 68 | 53 |
Net Charge- Offs | (133) | (254) | (233) | (838) |
Provision for credit losses | 969 | 341 | 1,570 | 1,480 |
Balance at End of Period | 9,246 | 8,666 | 9,246 | 8,666 |
Indirect Installment [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 9,543 | 8,909 | 9,889 | 7,504 |
Charge- Offs | (1,781) | (1,650) | (5,486) | (4,433) |
Recoveries | 617 | 264 | 1,545 | 898 |
Net Charge- Offs | (1,164) | (1,386) | (3,941) | (3,535) |
Provision for credit losses | 1,983 | 2,090 | 4,414 | 5,644 |
Balance at End of Period | 10,362 | 9,613 | 10,362 | 9,613 |
Consumer Lines of Credit [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 9,149 | 9,118 | 9,582 | 8,496 |
Charge- Offs | (459) | (472) | (1,461) | (1,205) |
Recoveries | 82 | 56 | 187 | 132 |
Net Charge- Offs | (377) | (416) | (1,274) | (1,073) |
Provision for credit losses | 499 | 871 | 963 | 2,150 |
Balance at End of Period | 9,271 | 9,573 | 9,271 | 9,573 |
Other [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 1,124 | 911 | 1,013 | 759 |
Charge- Offs | (709) | (402) | (1,988) | (1,062) |
Recoveries | 3 | 8 | 35 | 44 |
Net Charge- Offs | (706) | (394) | (1,953) | (1,018) |
Provision for credit losses | 847 | 413 | 2,205 | 1,189 |
Balance at End of Period | 1,265 | 930 | 1,265 | 930 |
Purchased Credit-Impaired Loans [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 632 | 658 | 834 | 660 |
Charge- Offs | (399) | (64) | ||
Recoveries | 42 | 42 | 19 | |
Net Charge- Offs | 42 | (357) | (45) | |
Provision for credit losses | (102) | 36 | 95 | 80 |
Balance at End of Period | 572 | 695 | 572 | 695 |
Other Acquired Loans [Member] | ||||
Schedule Of Allowance For Loan Losses [Line Items] | ||||
Balance at Beginning of Period | 5,018 | 6,287 | 5,893 | 7,314 |
Charge- Offs | (240) | (153) | (687) | (698) |
Recoveries | 362 | 282 | 947 | 653 |
Net Charge- Offs | 122 | 129 | 260 | (45) |
Provision for credit losses | 669 | (546) | (344) | (1,400) |
Balance at End of Period | $ 5,809 | $ 5,869 | $ 5,809 | $ 5,869 |
Allowance for Credit Losses -70
Allowance for Credit Losses - Summary of Individual and Collective Allowance for Credit Losses and Loan and Lease Balances by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Valuation Allowance [Line Items] | ||
Originated Allowance, Individually Evaluated for Impairment | $ 9,645 | $ 2,650 |
Originated Allowance, Collectively Evaluated for Impairment | 140,868 | 132,635 |
Loans and Leases | 14,773,446 | 12,190,440 |
Originated Loans and Leases Outstanding, Individually Evaluated for Impairment | 47,631 | 23,706 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 12,158,654 | 11,008,273 |
Commercial Real Estate [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Individually Evaluated for Impairment | 550 | 321 |
Originated Allowance, Collectively Evaluated for Impairment | 41,817 | 41,420 |
Loans and Leases | 5,367,291 | 4,109,056 |
Originated Loans and Leases Outstanding, Individually Evaluated for Impairment | 13,736 | 12,904 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 3,904,839 | 3,518,242 |
Commercial and Industrial [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Individually Evaluated for Impairment | 9,095 | 2,329 |
Originated Allowance, Collectively Evaluated for Impairment | 44,613 | 38,694 |
Loans and Leases | 3,088,405 | 2,601,722 |
Originated Loans and Leases Outstanding, Individually Evaluated for Impairment | 33,895 | 10,802 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 2,662,315 | 2,523,549 |
Commercial Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Collectively Evaluated for Impairment | 3,207 | 2,541 |
Loans and Leases | 195,271 | 204,553 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 195,271 | 204,553 |
Total Commercial Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Individually Evaluated for Impairment | 9,645 | 2,650 |
Originated Allowance, Collectively Evaluated for Impairment | 89,637 | 82,655 |
Loans and Leases | 8,650,967 | 6,915,331 |
Originated Loans and Leases Outstanding, Individually Evaluated for Impairment | 47,631 | 23,706 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 6,762,425 | 6,246,344 |
Direct Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Collectively Evaluated for Impairment | 21,087 | 21,587 |
Loans and Leases | 1,837,395 | 1,706,636 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 1,750,189 | 1,660,717 |
Residential Mortgages [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Collectively Evaluated for Impairment | 9,246 | 7,909 |
Loans and Leases | 1,779,867 | 1,395,971 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 1,355,476 | 1,044,689 |
Indirect Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Collectively Evaluated for Impairment | 10,362 | 9,889 |
Loans and Leases | 1,150,812 | 996,729 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 1,150,575 | 996,175 |
Consumer Lines of Credit [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Collectively Evaluated for Impairment | 9,271 | 9,582 |
Loans and Leases | 1,303,223 | 1,137,255 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 1,088,807 | 1,021,830 |
Other [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Collectively Evaluated for Impairment | 1,265 | 1,013 |
Loans and Leases | 51,182 | 38,518 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 51,182 | 38,518 |
Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 12,206,285 | 11,031,979 |
Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 3,918,575 | 3,531,146 |
Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 2,696,210 | 2,534,351 |
Loans and Leases [Member] | Commercial Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 195,271 | 204,553 |
Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 6,810,056 | 6,270,050 |
Loans and Leases [Member] | Direct Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 1,750,189 | 1,660,717 |
Loans and Leases [Member] | Residential Mortgages [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 1,355,476 | 1,044,689 |
Loans and Leases [Member] | Indirect Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 1,150,575 | 996,175 |
Loans and Leases [Member] | Consumer Lines of Credit [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 1,088,807 | 1,021,830 |
Loans and Leases [Member] | Other [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | $ 51,182 | $ 38,518 |
Borrowings - Summary of Short-T
Borrowings - Summary of Short-Term Borrowings (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Debt Disclosure [Abstract] | ||
Securities sold under repurchase agreements | $ 310,787 | $ 266,732 |
Federal Home Loan Bank advances | 925,000 | 1,090,000 |
Federal funds purchased | 872,000 | 568,000 |
Subordinated notes | 128,318 | 124,164 |
Total short-term borrowings | $ 2,236,105 | $ 2,048,896 |
Borrowings - Summary of Long-Te
Borrowings - Summary of Long-Term Borrowings (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Debt Disclosure [Abstract] | ||
Federal Home Loan Bank advances | $ 355,122 | $ 400,017 |
Subordinated notes | 85,188 | 84,668 |
Junior subordinated debt | 48,591 | 58,298 |
Other subordinated debt | 98,599 | 98,497 |
Total long-term borrowings | $ 587,500 | $ 641,480 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) | 3 Months Ended | ||
Mar. 31, 2016USD ($) | Sep. 30, 2016USD ($)Trust | Dec. 31, 2015 | |
Debt Instrument [Line Items] | |||
Credit available with FHLB | $ 5,700,000,000 | ||
Credit with FHLB used | $ 1,300,000,000 | ||
Federal Home Loan Bank advances are scheduled to mature periodically through the year | 2,021 | ||
Number of unconsolidated subsidiary trusts | Trust | 2 | ||
Percent of the common equity of each Trust owned by the Corporation | 100.00% | ||
Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Effective interest rates | 0.95% | 0.76% | |
Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Effective interest rates | 4.19% | 4.19% | |
Omega Financial Capital Trust I [Member] | |||
Debt Instrument [Line Items] | |||
Redemption of Corporation Issued TPS | $ 10,000,000 |
Borrowings - Junior Subordinate
Borrowings - Junior Subordinated Debt Trusts (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 48,591 | $ 58,298 |
Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 47,500 | |
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 | 2.50% | |
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 | $ 26,426 | |
Stated Maturity Date | Oct. 18, 2034 | |
Interest Rate | 2.87% | |
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 | $ 26,000 | |
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 Activi75
Derivative and Hedging Activities - Schedule of Notional Amounts and Gross Fair Values of Derivative Assets and Derivative Liabilities (Detail) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Derivatives, Fair Value [Line Items] | ||
Notional amount | $ 3,852,330,000 | $ 2,893,041,000 |
Fair value, asset | 101,027,000 | 53,202,000 |
Liability | 93,514,000 | 51,605,000 |
Credit Risk Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value, asset | 57,000 | 7,000 |
Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 2,065,629,000 | 1,514,144,000 |
Fair value, asset | 9,981,000 | 3,197,000 |
Liability | 93,116,000 | 51,453,000 |
Subject to Master Netting Arrangements [Member] | Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 450,000,000 | 250,000,000 |
Fair value, asset | 9,938,000 | 3,178,000 |
Liability | 1,167,000 | 962,000 |
Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,614,449,000 | 1,262,964,000 |
Fair value, asset | 1,000 | |
Liability | 91,949,000 | 50,491,000 |
Subject to Master Netting Arrangements [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,180,000 | 1,180,000 |
Fair value, asset | 43,000 | 18,000 |
Not Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,786,701,000 | 1,378,897,000 |
Fair value, asset | 91,046,000 | 50,005,000 |
Liability | 398,000 | 152,000 |
Not Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,614,449,000 | 1,262,964,000 |
Fair value, asset | 90,989,000 | 49,998,000 |
Liability | 1,000 | |
Not Subject to Master Netting Arrangements [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,180,000 | 1,180,000 |
Liability | 43,000 | 18,000 |
Not Subject to Master Netting Arrangements [Member] | Credit Risk Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 171,072,000 | 114,753,000 |
Fair value, asset | 57,000 | 7,000 |
Liability | $ 355,000 | $ 133,000 |
Derivative and Hedging Activi76
Derivative and Hedging Activities - Summary of Key Data Related to Interest Rate (Detail) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | $ 3,852,330,000 | $ 2,893,041,000 |
Fair value included in other assets | 101,027,000 | 53,202,000 |
Fair value included in other liabilities | 93,514,000 | 51,605,000 |
Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 450,000,000 | 250,000,000 |
Fair value included in other liabilities | 1,167,000 | 962,000 |
Designated as Hedging Instrument [Member] | Not for Trading Assets [Member] | Interest Rate Contracts [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Fair value included in other assets | 9,938,000 | 3,178,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 1,614,449,000 | 1,262,964,000 |
Not Designated as Hedging Instrument [Member] | Trading Liabilities [Member] | Interest Rate Swap [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Fair value included in other liabilities | 91,949,000 | 50,492,000 |
Not Designated as Hedging Instrument [Member] | Trading Assets [Member] | Interest Rate Swap [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Fair value included in other assets | $ 90,989,000 | $ 49,999,000 |
Derivative and Hedging Activi77
Derivative and Hedging Activities - Summary of Amounts Reclassified from Accumulated Other Comprehensive Income (AOCI) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Reclassified from AOCI to interest expense | $ 17,604 | $ 11,996 | $ 49,566 | $ 35,125 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Total [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Reclassified from AOCI to interest income | 2,030 | |||
Reclassified from AOCI to interest expense | 554 | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Net of Tax [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Reclassified from AOCI to interest income | 1,319 | |||
Reclassified from AOCI to interest expense | $ 360 |
Derivative and Hedging Activi78
Derivative and Hedging Activities - Additional Information (Detail) - USD ($) | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Derivative [Line Items] | |||
Notional amount | $ 3,852,330,000 | $ 2,893,041,000 | |
Additional amount in excess of posted collateral required in case of breached agreements | $ 1,100,000 | 1,300,000 | |
Interest Rate Contracts [Member] | |||
Derivative [Line Items] | |||
Period to reclassification of cash flow hedge gain loss | 12 months | ||
Maximum length of time hedged in interest rate cash flow hedge | 7 years | ||
Derivative gains to be reclassified within twelve months | $ 1,900,000 | ||
Derivative gains to be reclassified within twelve months, net of tax | 1,200,000 | ||
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 | |
Credit Risk Contract Sold [Member] | |||
Derivative [Line Items] | |||
Notional amount | 120,500,000 | ||
Maximum exposure under credit risk agreement assuming customer default | $ 400,000 | $ 100,000 | |
Credit Risk Contract Sold [Member] | Minimum [Member] | |||
Derivative [Line Items] | |||
Risk participation agreements, term | 6 months | ||
Credit Risk Contract Sold [Member] | Maximum [Member] | |||
Derivative [Line Items] | |||
Risk participation agreements, term | 14 years |
Derivative and Hedging Activi79
Derivative and Hedging Activities - Offsetting of Derivative Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Derivatives, Fair Value [Line Items] | ||
Gross Amount | $ 101,027 | $ 53,202 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 101,027 | 53,202 |
Credit Risk Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 57 | 7 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 57 | 7 |
Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 9,981 | 3,197 |
Subject to Master Netting Arrangements [Member] | Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 9,938 | 3,178 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 9,938 | 3,178 |
Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 1 | |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 1 | |
Subject to Master Netting Arrangements [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 43 | 18 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 43 | 18 |
Not Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 91,046 | 50,005 |
Not Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 90,989 | 49,998 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 90,989 | 49,998 |
Not Subject to Master Netting Arrangements [Member] | Credit Risk Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 57 | $ 7 |
Derivative and Hedging Activi80
Derivative and Hedging Activities - Offsetting of Derivative Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Derivatives, Fair Value [Line Items] | ||
Gross Amount | $ 93,514 | $ 51,605 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 93,514 | 51,605 |
Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 93,116 | 51,453 |
Subject to Master Netting Arrangements [Member] | Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 1,167 | 962 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 1,167 | 962 |
Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 91,949 | 50,491 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 91,949 | 50,491 |
Not Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 398 | 152 |
Not Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 1 | |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 1 | |
Not Subject to Master Netting Arrangements [Member] | Credit Risk Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 355 | 133 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 355 | 133 |
Not Subject to Master Netting Arrangements [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 43 | 18 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | $ 43 | $ 18 |
Derivative and Hedging Activi81
Derivative and Hedging Activities - Derivative Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 101,027 | $ 53,202 |
Subject to Master Netting Arrangements [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 9,981 | 3,197 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 5,621 | 1,535 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 4,360 | 1,662 |
Net Amount, Derivative Assets | 0 | 0 |
Subject to Master Netting Arrangements [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 9,938 | 3,178 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 5,578 | 1,516 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 4,360 | 1,662 |
Net Amount, Derivative Assets | 0 | 0 |
Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 1 | |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 1 | |
Net Amount, Derivative Assets | 0 | 0 |
Subject to Master Netting Arrangements [Member] | Equity Contracts [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 43 | 18 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 43 | 18 |
Net Amount, Derivative Assets | $ 0 | $ 0 |
Derivative and Hedging Activi82
Derivative and Hedging Activities - Derivative Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 93,514 | $ 51,605 |
Subject to Master Netting Arrangements [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 93,116 | 51,453 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 29,605 | 25,371 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | 62,448 | 24,802 |
Net Amount, Derivative Liabilities | 1,063 | 1,280 |
Subject to Master Netting Arrangements [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 1,167 | 962 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 792 | |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | 1,167 | 170 |
Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 91,949 | 50,491 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 29,605 | 24,579 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | 61,281 | 24,632 |
Net Amount, Derivative Liabilities | $ 1,063 | $ 1,280 |
Derivative and Hedging Activi83
Derivative and Hedging Activities - Effect of Corporation's Derivative Financial Instruments on Income Statement (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Interest Rate Contracts [Member] | Interest Income - Loans and Leases [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | $ 2,030 | $ 2,440 |
Interest Rate Contracts [Member] | Interest Expense - Short-term Borrowings [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | 554 | 115 |
Interest Rate Swap [Member] | Other Income [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | (467) | (364) |
Credit Risk Contracts [Member] | Other Income [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | $ (172) | $ (180) |
Commitments, Credit Risk and 84
Commitments, Credit Risk and Contingencies - Summary of Off-Balance Sheet Credit Risk Information (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Commitments to Extend Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Extended credit and standby letters of credit | $ 4,530,815 | $ 3,781,719 |
Standby Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Extended credit and standby letters of credit | $ 128,264 | $ 92,979 |
Commitments, Credit Risk and 85
Commitments, Credit Risk and Contingencies - Additional Information (Detail) | Sep. 30, 2016 |
Commitments and Contingencies Disclosure [Abstract] | |
Percentage of Commitments to extend credit dependent upon the financial condition of the customers | 73.90% |
Stock Incentive Plans - Additio
Stock Incentive Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2013 | Apr. 06, 2013 | Jun. 16, 2009 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Restricted stock awards issued | 574,125 | 402,947 | |||
Aggregate, weighted average grant date fair value | $ 7,400 | $ 5,300 | |||
Common stock shares available under incentive compensation plans | 3,248,296 | ||||
Unrecognized compensation expense | $ 11,667 | ||||
Intrinsic value of outstanding and exercisable stock options | $ 6,700 | ||||
Common shares available for purchase under warrants | 651,042 | ||||
Annapolis Bancorp, Inc. [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Warrant issued, exercise price | $ 3.16 | ||||
Warrant issued | 342,564 | ||||
Warrants converted to purchase common stock | 386,888 | ||||
Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Unrecognized compensation expense | $ 11,700 | ||||
Amount subject to accelerated vesting under Incentive Compensation Plan | $ 500 | ||||
Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Common shares available for purchase under warrants | 1,302,083 | ||||
Service-Based Awards [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period of awards issued, years | 3 years | 3 years | |||
Unrecognized compensation expense | $ 5,520 | ||||
Performance-Based Awards [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period of awards issued, years | 3 years | 4 years | |||
Restricted stock awards issued | 277,174 | 139,046 | |||
Unrecognized compensation expense | $ 6,147 | ||||
Performance-Based Awards [Member] | Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Restricted stock percentage of number of units issued | 175.00% | ||||
Performance-Based Awards [Member] | Minimum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Restricted stock percentage of number of units issued | 0.00% | ||||
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 | ||||
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% | ||||
Discretionary Service Based Awards [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period of awards issued, years | 5 years |
Stock Incentive Plans - Summary
Stock Incentive Plans - Summary of Activity Relating to Restricted Stock Awards (Detail) - $ / shares | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Shares, Unvested awards outstanding at beginning of period | 1,548,444 | 1,354,093 |
Shares, Granted | 574,125 | 402,947 |
Shares, Net adjustment due to performance | 8,884 | |
Shares, Vested | (374,579) | (471,997) |
Shares, Forfeited | (21,486) | (29,428) |
Shares, Dividend reinvestment | 44,534 | 30,551 |
Unvested awards outstanding at end of period | 1,771,038 | 1,295,050 |
Weighted Average Grant Price per Share, Unvested awards outstanding at beginning of period | $ 12.85 | $ 11.86 |
Weighted Average Grant Price per Share, Granted | 12.86 | 13.16 |
Weighted Average Grant Price per Share, Net adjustment due to performance | 22.73 | |
Weighted Average Grant Price per Share, Vested | 12.11 | 10.66 |
Weighted Average Grant Price per Share, Forfeited | 12.98 | 13.46 |
Weighted Average Grant Price per Share, Dividend reinvestment | 12.25 | 11.32 |
Weighted Average Grant Price per Share, Unvested awards outstanding at end of period | $ 13 | $ 12.73 |
Stock Incentive Plans - Schedul
Stock Incentive Plans - Schedule of Certain Information Related to Restricted Stock Awards (Detail) - Restricted Stock [Member] - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | $ 4,644 | $ 3,287 |
Tax benefit related to stock-based compensation expense | 1,625 | 1,150 |
Fair value of awards vested | $ 4,563 | $ 5,912 |
Stock Incentive Plans - Compone
Stock Incentive Plans - Components of Restricted Stock Awards (Detail) - USD ($) $ in Thousands | 9 Months Ended | |||
Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested awards | 1,771,038 | 1,548,444 | 1,295,050 | 1,354,093 |
Unrecognized compensation expense | $ 11,667 | |||
Intrinsic value | $ 21,784 | |||
Weighted average remaining life (in years) | 2 years 1 month 6 days | |||
Service-Based Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested awards | 852,788 | |||
Unrecognized compensation expense | $ 5,520 | |||
Intrinsic value | $ 10,489 | |||
Weighted average remaining life (in years) | 2 years 15 days | |||
Performance-Based Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested awards | 918,250 | |||
Unrecognized compensation expense | $ 6,147 | |||
Intrinsic value | $ 11,295 | |||
Weighted average remaining life (in years) | 2 years 1 month 24 days |
Stock Incentive Plans - Summa90
Stock Incentive Plans - Summary of Activity Relating to Stock Options (Detail) - $ / shares | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Shares, Options outstanding at beginning of period | 435,340 | 568,834 |
Shares, Assumed from acquisitions | 1,707,036 | |
Shares, Exercised | (352,094) | (88,899) |
Shares, Forfeited | (93,628) | (2,182) |
Shares, Options outstanding and exercisable at end of period | 1,696,654 | 477,753 |
Weighted Average Price per Share, Options outstanding at beginning of period | $ 8.86 | $ 8.86 |
Weighted Average Price per Share, Assumed from acquisition | 7.83 | |
Weighted Average Price per Share, Exercised | 6.89 | 5.61 |
Weighted Average Price per Share, Forfeited | 6.74 | 4.34 |
Weighted Average Price per Share, Options outstanding and exercisable at end of period | $ 8.35 | $ 9.48 |
Retirement Plans - Additional I
Retirement Plans - Additional Information (Detail) $ in Millions | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2016USD ($)RetirementPlans | Sep. 30, 2015USD ($) | Dec. 31, 2008 | |
Retirement Plans Disclosure [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 | ||
Percent of employer match | 100.00% | ||
Employee contribution percentage | 6.00% | ||
Additional discretionary contribution, performance goals, percentage | 3.00% | ||
Contribution expense of the Corporation | $ | $ 6.9 | $ 5.8 |
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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ (4) | $ 18 | $ (12) | $ 52 |
Interest cost | 1,521 | 1,470 | 4,609 | 4,424 |
Expected return on plan assets | (2,354) | (2,491) | (7,060) | (7,473) |
Amortization: | ||||
Unrecognized prior service cost | 2 | 2 | 6 | 6 |
Unrecognized loss | 584 | 518 | 1,800 | 1,590 |
Net periodic pension credit | $ (251) | $ (483) | $ (657) | $ (1,401) |
Comprehensive Income - Componen
Comprehensive Income - Components of Comprehensive Income, Net of Related Tax (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Components Of Comprehensive Income [Abstract] | ||||
Net income | $ 52,168 | $ 40,053 | $ 119,600 | $ 120,527 |
Other comprehensive income (loss): | ||||
Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(1,535), $3,650, $9,818 and $4,302 | (2,851) | 6,778 | 18,234 | 7,989 |
Reclassification adjustment for gains included in net income, net of tax expense of $105, $110, $209 and $112 | (195) | (204) | (388) | (207) |
Unrealized gains arising during the period, net of tax expense of $284, $1,669, $2,811 and $2,313 | 528 | 3,099 | 5,221 | 4,295 |
Reclassification adjustment for gains included in net income, net of tax expense of $138, $246, $517 and $814 | (256) | (457) | (960) | (1,511) |
Unrealized gains arising during the period, net of tax expense of $205, $183, $632 and $560 | 380 | 340 | 1,173 | 1,040 |
Other comprehensive (loss) income | (2,394) | 9,556 | 23,280 | 11,606 |
Comprehensive income | $ 49,774 | $ 49,609 | $ 142,880 | $ 132,133 |
Comprehensive Income - Compon94
Comprehensive Income - Components of Comprehensive Income, Net of Related Tax (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Components Of Comprehensive Income [Abstract] | ||||
Securities available for sale, Unrealized (losses) gains arising during the period, tax (benefit) expense | $ (1,535) | $ 3,650 | $ 9,818 | $ 4,302 |
Securities available for sale, Reclassification adjustment for gains included in net income, tax expense | 105 | 110 | 209 | 112 |
Unrealized gains on derivative instruments arising during the period, tax expense | 284 | 1,669 | 2,811 | 2,313 |
Reclassification adjustment on derivative instruments for gains included in net income, tax expense | 138 | 246 | 517 | 814 |
Unrealized gains on pension and postretirement benefit obligations arising during the period, tax expense | $ 205 | $ 183 | $ 632 | $ 560 |
Comprehensive Income - Changes
Comprehensive Income - Changes in AOCI, Net of Tax, by Component (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income (loss), balance at beginning of period | $ (51,133) | |||
Other comprehensive income before reclassifications | 24,628 | |||
Amounts reclassified from AOCI | (1,348) | |||
Net current period other comprehensive income | $ (2,394) | $ 9,556 | 23,280 | $ 11,606 |
Accumulated other comprehensive income (loss), balance at end of period | (27,853) | (27,853) | ||
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 | (3,873) | |||
Other comprehensive income before reclassifications | 18,234 | |||
Amounts reclassified from AOCI | (388) | |||
Net current period other comprehensive income | 17,846 | |||
Accumulated other comprehensive income (loss), balance at end of period | 13,973 | 13,973 | ||
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 | 1,440 | |||
Other comprehensive income before reclassifications | 5,221 | |||
Amounts reclassified from AOCI | (960) | |||
Net current period other comprehensive income | 4,261 | |||
Accumulated other comprehensive income (loss), balance at end of period | 5,701 | 5,701 | ||
Unrecognized Pension and Postretirement Obligations [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income (loss), balance at beginning of period | (48,700) | |||
Other comprehensive income before reclassifications | 1,173 | |||
Net current period other comprehensive income | 1,173 | |||
Accumulated other comprehensive income (loss), balance at end of period | $ (47,527) | $ (47,527) |
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 | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Earnings Per Share [Abstract] | ||||
Net income | $ 52,168 | $ 40,053 | $ 119,600 | $ 120,527 |
Less: Preferred stock dividends | 2,010 | 2,010 | 6,030 | 6,030 |
Net income available to common stockholders | $ 50,158 | $ 38,043 | $ 113,570 | $ 114,497 |
Basic weighted average common shares outstanding | 210,306,834 | 175,343,789 | 204,687,092 | 174,816,692 |
Net effect of dilutive stock options, warrants, restricted stock and convertible debt | 1,483,896 | 1,169,043 | 1,446,648 | 1,383,450 |
Diluted weighted average common shares outstanding | 211,790,730 | 176,512,832 | 206,133,740 | 176,200,142 |
Basic | $ 0.24 | $ 0.22 | $ 0.55 | $ 0.65 |
Diluted | $ 0.24 | $ 0.22 | $ 0.55 | $ 0.65 |
Earnings Per Common Share - Sch
Earnings Per Common Share - Schedule of Average Shares Excluded from Diluted Earnings Per Common Share Calculation (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Earnings Per Share [Abstract] | ||||
Average shares excluded from the diluted earnings per common share calculation | 14,859 | 19,385 | 14,041 | 20,440 |
Cash Flow Information - Summary
Cash Flow Information - Summary of Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Statement of Cash Flows [Abstract] | ||
Interest paid on deposits and other borrowings | $ 48,315 | $ 35,531 |
Income taxes paid | 47,500 | 41,000 |
Transfers of loans to other real estate owned | 13,055 | 6,901 |
Financing of other real estate owned sold | $ 441 | $ 372 |
Business Segments - Additional
Business Segments - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2016Segment | |
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 | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||||
Interest income | $ 175,110 | $ 137,197 | $ 501,795 | $ 406,014 | |
Interest expense | 17,604 | 11,996 | 49,566 | 35,125 | |
Net interest income | 157,506 | 125,201 | 452,229 | 370,889 | |
Provision for credit losses | 14,639 | 10,777 | 43,047 | 27,777 | |
Non-interest income | 53,240 | 41,359 | 150,695 | 119,293 | |
Non-interest expense | 117,479 | 96,115 | 377,719 | 283,155 | |
Intangible amortization | 3,571 | 2,034 | 9,608 | 6,148 | |
Income tax expense (benefit) | 22,889 | 17,581 | 52,950 | 52,575 | |
Net income (loss) | 52,168 | 40,053 | 119,600 | 120,527 | |
Total assets | 21,583,914 | 16,836,073 | 21,583,914 | 16,836,073 | $ 17,557,662 |
Total intangibles | 1,103,652 | 880,558 | 1,103,652 | 880,558 | |
Operating Segments [Member] | Community Banking [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 162,714 | 125,281 | 465,592 | 371,366 | |
Interest expense | 14,791 | 10,473 | 41,153 | 30,580 | |
Net interest income | 147,923 | 114,808 | 424,439 | 340,786 | |
Provision for credit losses | 12,766 | 8,702 | 37,081 | 21,974 | |
Non-interest income | 40,760 | 29,667 | 111,507 | 85,281 | |
Non-interest expense | 101,744 | 80,906 | 329,578 | 236,324 | |
Intangible amortization | 3,422 | 1,824 | 9,043 | 5,601 | |
Income tax expense (benefit) | 21,449 | 15,804 | 48,850 | 48,744 | |
Net income (loss) | 49,302 | 37,239 | 111,394 | 113,424 | |
Total assets | 21,383,500 | 16,658,489 | 21,383,500 | 16,658,489 | |
Total intangibles | 1,079,196 | 855,164 | 1,079,196 | 855,164 | |
Operating Segments [Member] | Wealth Management [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Non-interest income | 8,835 | 8,682 | 26,834 | 26,268 | |
Non-interest expense | 6,619 | 6,703 | 20,668 | 20,127 | |
Intangible amortization | 65 | 69 | 194 | 205 | |
Income tax expense (benefit) | 781 | 696 | 2,168 | 2,143 | |
Net income (loss) | 1,370 | 1,214 | 3,804 | 3,793 | |
Total assets | 19,490 | 21,099 | 19,490 | 21,099 | |
Total intangibles | 10,253 | 10,516 | 10,253 | 10,516 | |
Operating Segments [Member] | Insurance [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 21 | 22 | 64 | 67 | |
Net interest income | 21 | 22 | 64 | 67 | |
Non-interest income | 3,847 | 3,602 | 11,309 | 9,948 | |
Non-interest expense | 3,249 | 3,201 | 9,826 | 10,952 | |
Intangible amortization | 84 | 141 | 371 | 342 | |
Income tax expense (benefit) | 196 | 105 | 430 | (433) | |
Net income (loss) | 339 | 177 | 746 | (846) | |
Total assets | 21,464 | 22,201 | 21,464 | 22,201 | |
Total intangibles | 12,394 | 13,069 | 12,394 | 13,069 | |
Operating Segments [Member] | Consumer Finance [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 10,260 | 10,096 | 30,171 | 29,467 | |
Interest expense | 949 | 878 | 2,820 | 2,593 | |
Net interest income | 9,311 | 9,218 | 27,351 | 26,874 | |
Provision for credit losses | 1,517 | 1,750 | 4,515 | 5,288 | |
Non-interest income | 728 | 716 | 2,198 | 2,124 | |
Non-interest expense | 5,328 | 4,983 | 15,904 | 14,785 | |
Income tax expense (benefit) | 1,238 | 1,473 | 3,558 | 3,660 | |
Net income (loss) | 1,956 | 1,728 | 5,572 | 5,265 | |
Total assets | 191,524 | 187,721 | 191,524 | 187,721 | |
Total intangibles | 1,809 | 1,809 | 1,809 | 1,809 | |
Parent and Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 2,115 | 1,798 | 5,968 | 5,114 | |
Interest expense | 1,864 | 645 | 5,593 | 1,952 | |
Net interest income | 251 | 1,153 | 375 | 3,162 | |
Provision for credit losses | 356 | 325 | 1,451 | 515 | |
Non-interest income | (930) | (1,308) | (1,153) | (4,328) | |
Non-interest expense | 539 | 322 | 1,743 | 967 | |
Income tax expense (benefit) | (775) | (497) | (2,056) | (1,539) | |
Net income (loss) | (799) | (305) | (1,916) | (1,109) | |
Total assets | $ (32,064) | $ (53,437) | $ (32,064) | $ (53,437) |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Fair Value Measurements Disclosure [Line Items] | |||
Percentage of securities using market-based information | 99.90% | ||
Percentage of securities using model-based techniques | 0.10% | ||
Minimum reserves for commercial loan | $ 500,000 | ||
Impaired loans, carrying amount | 90,349,000 | $ 70,689,000 | |
Allocated allowance for loan losses | 9,600,000 | ||
Fair value of allocated allowance | 11,500,000 | ||
Estimated costs to sell | 800,000 | ||
Provision for fair value measurements included in allowance for loan losses | 8,800,000 | ||
Carrying amount of OREO | 8,200,000 | ||
Written down of OREO | 6,300,000 | ||
Fair value of OREO | 7,100,000 | ||
Estimated cost to sell OREO | 800,000 | ||
Loss from OREO included in earnings | $ 1,900,000 | ||
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 | $ 20,300,000 | ||
Allocated allowance for loan losses | 11,517,000 | 3,828,000 | |
Fair value of OREO | 7,099,000 | 7,831,000 | |
Equity Securities [Member] | |||
Fair Value Measurements Disclosure [Line Items] | |||
Transfer of equity security to non-marketable equity securities, included in other assets | $ 56,000 | ||
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 | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value, Available for sale securities | $ 2,077,616 | $ 1,630,567 |
Derivative assets | 101,027 | 53,202 |
Derivative liabilities | 93,514 | 51,605 |
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 | 30,004 | 29,796 |
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 | 384,637 | 367,994 |
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 | 554,723 | 495,830 |
Assets measured at fair value, Available for sale securities | 554,723 | |
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 | 935 | 1,190 |
Assets measured at fair value, Available for sale securities | 935 | |
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 | 2,816 | 4,287 |
Assets measured at fair value, Available for sale securities | 2,816 | |
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 | 37,138 | 11,057 |
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 | 9,345 | 14,286 |
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 | 259 | 225 |
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 | 2,075,989 | 1,628,719 |
Derivative assets | 101,027 | 53,202 |
Derivative liabilities | 93,514 | 51,605 |
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 | 1,368 | 1,623 |
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 | 2,076,249 | 1,629,271 |
Assets measured at fair value, Available for sale equity securities | 1,367 | 1,296 |
Assets measured at fair value, Available for sale securities | 2,077,616 | 1,630,567 |
Derivative assets | 101,027 | 53,202 |
Assets measured at fair value, Total | 2,178,643 | 1,683,769 |
Liabilities measured at fair value, Total | 93,514 | 51,605 |
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 | 30,004 | 29,796 |
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 | 384,637 | 367,994 |
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 | 554,723 | 495,830 |
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 | 935 | 1,190 |
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 | 2,816 | 4,287 |
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 | 37,138 | 11,057 |
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 | 9,345 | 14,286 |
Fair Value, Measurements, Recurring [Member] | Trading Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 91,032 | 50,017 |
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 | 9,995 | 3,185 |
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 | 1,229 | 1,168 |
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 | 138 | 128 |
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 | 1,056,651 | 704,831 |
Fair Value, Measurements, Recurring [Member] | Trading Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | 91,992 | 50,510 |
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 | 1,522 | 1,095 |
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 | 259 | 225 |
Assets measured at fair value, Available for sale securities | 259 | 225 |
Assets measured at fair value, Total | 259 | 225 |
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 | 121 | 97 |
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 | 138 | 128 |
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 | 2,075,317 | 1,628,087 |
Assets measured at fair value, Available for sale equity securities | 672 | 632 |
Assets measured at fair value, Available for sale securities | 2,075,989 | 1,628,719 |
Derivative assets | 101,027 | 53,202 |
Assets measured at fair value, Total | 2,177,016 | 1,681,921 |
Liabilities measured at fair value, Total | 93,514 | 51,605 |
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 | 30,004 | 29,796 |
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 | 384,637 | 367,994 |
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 | 554,723 | 495,830 |
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 | 3 | 6 |
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 | 2,816 | 4,287 |
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 | 37,138 | 11,057 |
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 | 9,345 | 14,286 |
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 | 91,032 | 50,017 |
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 | 9,995 | 3,185 |
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 | 672 | 632 |
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 | 1,056,651 | 704,831 |
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 | 91,992 | 50,510 |
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 | 1,522 | 1,095 |
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 | 932 | 1,184 |
Assets measured at fair value, Available for sale equity securities | 436 | 439 |
Assets measured at fair value, Available for sale securities | 1,368 | 1,623 |
Assets measured at fair value, Total | 1,368 | 1,623 |
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 | 932 | 1,184 |
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 | $ 436 | $ 439 |
Fair Value Measurements - Ad103
Fair Value Measurements - Additional Information about Assets Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance at beginning of period | $ 1,623 | $ 1,895 |
Total gains (losses) - realized/unrealized, Included in earnings | 0 | 0 |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | (15) | 16 |
Accretion included in earnings | 5 | 5 |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Sales/redemptions | 0 | 0 |
Settlements | (245) | (237) |
Transfers from Level 3 | (56) | |
Transfers into Level 3 | 0 | 0 |
Balance at end of period | 1,368 | 1,623 |
Equity Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance at beginning of period | 439 | 475 |
Total gains (losses) - realized/unrealized, Included in earnings | 0 | 0 |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | (3) | 20 |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Sales/redemptions | 0 | 0 |
Transfers from Level 3 | (56) | |
Transfers into Level 3 | 0 | 0 |
Balance at end of period | 436 | 439 |
Residential Non-Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance at beginning of period | 1,184 | 1,420 |
Total gains (losses) - realized/unrealized, Included in earnings | 0 | 0 |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | (12) | (4) |
Accretion included in earnings | 5 | 5 |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Sales/redemptions | 0 | 0 |
Settlements | (245) | (237) |
Transfers into Level 3 | 0 | 0 |
Balance at end of period | $ 932 | $ 1,184 |
Fair Value Measurements - Ad104
Fair Value Measurements - Additional Information about Assets Measured at Fair Value on Non-Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 9,600 | |
Other real estate owned | 7,100 | |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 11,517 | $ 3,828 |
Other real estate owned | 7,099 | 7,831 |
Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,648 | 124 |
Other real estate owned | 3,720 | 5,705 |
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 7,869 | 3,704 |
Other real estate owned | $ 3,379 | $ 2,126 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Values of Corporation's Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | $ 445,250 | $ 489,119 | $ 258,766 | $ 287,393 |
Securities available for sale | 2,077,616 | 1,630,567 | ||
Securities held to maturity | 2,249,245 | 1,637,061 | ||
Securities held to maturity | 2,278,755 | 1,643,416 | ||
Derivative assets | 101,027 | 53,202 | ||
Deposits | 15,976,884 | 12,623,463 | ||
Short-term borrowings | 2,236,105 | 2,048,896 | ||
Long-term borrowings | 587,500 | 641,480 | ||
Derivative liabilities | 93,514 | 51,605 | ||
Fair Value [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 445,250 | 489,119 | ||
Securities available for sale | 2,077,616 | 1,630,567 | ||
Securities held to maturity | 2,278,755 | 1,643,416 | ||
Net loans and leases, including loans held for sale | 14,618,539 | 11,863,882 | ||
Derivative assets | 101,027 | 53,202 | ||
Accrued interest receivable | 54,871 | 44,920 | ||
Deposits | 15,985,704 | 12,610,914 | ||
Short-term borrowings | 2,236,341 | 2,048,943 | ||
Long-term borrowings | 591,960 | 637,935 | ||
Derivative liabilities | 93,514 | 51,605 | ||
Accrued interest payable | 8,708 | 7,457 | ||
Carrying Amount [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 445,250 | 489,119 | ||
Securities available for sale | 2,077,616 | 1,630,567 | ||
Securities held to maturity | 2,249,245 | 1,637,061 | ||
Net loans and leases, including loans held for sale | 14,634,414 | 12,053,209 | ||
Derivative assets | 101,027 | 53,202 | ||
Accrued interest receivable | 54,871 | 44,920 | ||
Deposits | 15,976,884 | 12,623,463 | ||
Short-term borrowings | 2,236,105 | 2,048,896 | ||
Long-term borrowings | 587,500 | 641,480 | ||
Derivative liabilities | 93,514 | 51,605 | ||
Accrued interest payable | 8,708 | 7,457 | ||
Level 1 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 445,250 | 489,119 | ||
Securities available for sale | 259 | 225 | ||
Accrued interest receivable | 54,871 | 44,920 | ||
Deposits | 13,414,297 | 10,157,997 | ||
Short-term borrowings | 2,236,341 | 2,048,943 | ||
Accrued interest payable | 8,708 | 7,457 | ||
Level 2 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Securities available for sale | 2,075,989 | 1,628,719 | ||
Securities held to maturity | 2,276,875 | 1,640,721 | ||
Derivative assets | 101,027 | 53,202 | ||
Deposits | 2,571,407 | 2,452,917 | ||
Derivative liabilities | 93,514 | 51,605 | ||
Level 3 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Securities available for sale | 1,368 | 1,623 | ||
Securities held to maturity | 1,880 | 2,695 | ||
Net loans and leases, including loans held for sale | 14,618,539 | 11,863,882 | ||
Long-term borrowings | $ 591,960 | $ 637,935 |