Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Jan. 31, 2017 | Jun. 30, 2016 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | FNB | ||
Entity Registrant Name | FNB CORP/PA/ | ||
Entity Central Index Key | 37,808 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 211,102,122 | ||
Entity Public Float | $ 2,526,762,411 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and due from banks | $ 303,526 | $ 207,399 |
Interest-bearing deposits with banks | 67,881 | 281,720 |
Cash and Cash Equivalents | 371,407 | 489,119 |
Securities available for sale | 2,231,987 | 1,630,567 |
Securities held to maturity (fair value of $2,294,777 and $1,643,416) | 2,337,342 | 1,637,061 |
Residential mortgage loans held for sale | 11,908 | 4,781 |
Loans and leases, net of unearned income of $52,723 and $51,642 | 14,896,943 | 12,190,440 |
Allowance for credit losses | (158,059) | (142,012) |
Net Loans and Leases | 14,738,884 | 12,048,428 |
Premises and equipment, net | 243,956 | 159,080 |
Goodwill | 1,032,129 | 833,086 |
Core deposit and other intangible assets, net | 67,327 | 45,644 |
Bank owned life insurance | 330,152 | 308,192 |
Other assets | 479,725 | 401,704 |
Total Assets | 21,844,817 | 17,557,662 |
Liabilities | ||
Non-interest-bearing demand | 4,205,337 | 3,059,949 |
Interest-bearing demand | 6,931,381 | 5,311,589 |
Savings | 2,352,434 | 1,786,459 |
Certificates and other time deposits | 2,576,495 | 2,465,466 |
Total Deposits | 16,065,647 | 12,623,463 |
Short-term borrowings | 2,503,010 | 2,048,896 |
Long-term borrowings | 539,494 | 641,480 |
Other liabilities | 165,049 | 147,641 |
Total Liabilities | 19,273,200 | 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 - 212,378,494 and 176,595,060 shares | 2,125 | 1,766 |
Additional paid-in capital | 2,234,366 | 1,808,210 |
Retained earnings | 304,397 | 243,217 |
Accumulated other comprehensive loss | (61,369) | (51,133) |
Treasury stock - 1,318,947 and 1,153,390 shares at cost | (14,784) | (12,760) |
Total Stockholders' Equity | 2,571,617 | 2,096,182 |
Total Liabilities and Stockholders' Equity | $ 21,844,817 | $ 17,557,662 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Securities held to maturity, fair value | $ 2,294,777 | $ 1,643,416 |
Unearned income on loans | $ 52,723 | $ 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 | 212,378,494 | 176,595,060 |
Treasury stock, shares | 1,318,947 | 1,153,390 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest Income | |||
Loans and leases, including fees | $ 597,621 | $ 482,086 | $ 449,502 |
Securities: | |||
Taxable | 71,853 | 58,148 | 53,877 |
Tax-exempt | 9,011 | 6,405 | 5,282 |
Dividends | 34 | 39 | 228 |
Other | 444 | 117 | 94 |
Total Interest Income | 678,963 | 546,795 | 508,983 |
Interest Expense | |||
Deposits | 41,239 | 31,207 | 29,603 |
Short-term borrowings | 12,183 | 7,075 | 5,638 |
Long-term borrowings | 14,029 | 10,291 | 7,445 |
Total Interest Expense | 67,451 | 48,573 | 42,686 |
Net Interest Income | 611,512 | 498,222 | 466,297 |
Provision for credit losses | 55,752 | 40,441 | 38,648 |
Net Interest Income After Provision for Credit Losses | 555,760 | 457,781 | 427,649 |
Non-Interest Income | |||
Service charges | 99,033 | 70,698 | 68,267 |
Trust services | 21,173 | 20,934 | 19,365 |
Insurance commissions and fees | 18,328 | 16,270 | 16,758 |
Securities commissions and fees | 13,468 | 13,642 | 11,453 |
Swap fee income | 13,921 | 9,477 | 5,744 |
Mortgage banking operations | 12,106 | 8,619 | 3,705 |
Bank owned life insurance | 10,150 | 8,010 | 7,716 |
Net securities gains | 712 | 822 | 11,717 |
Other | 12,870 | 13,938 | 13,549 |
Total Non-Interest Income | 201,761 | 162,410 | 158,274 |
Non-Interest Expense | |||
Salaries and employee benefits | 239,798 | 202,068 | 195,016 |
Net occupancy | 40,086 | 33,670 | 32,281 |
Equipment | 38,046 | 31,869 | 29,245 |
Amortization of intangibles | 11,210 | 8,305 | 9,717 |
Outside services | 43,737 | 34,698 | 33,208 |
FDIC insurance | 19,203 | 12,888 | 13,258 |
Supplies | 10,834 | 8,064 | 7,102 |
Bank shares and franchise taxes | 8,940 | 8,139 | 6,954 |
Telephone | 7,159 | 6,234 | 5,710 |
Advertising and promotional | 10,141 | 8,396 | 7,824 |
Loan related | 8,170 | 6,161 | 4,933 |
Other real estate owned | 5,153 | 4,637 | 4,401 |
Merger and acquisition related | 37,439 | 3,033 | 9,611 |
Other | 31,217 | 22,387 | 19,993 |
Total Non-Interest Expense | 511,133 | 390,549 | 379,253 |
Income Before Income Taxes | 246,388 | 229,642 | 206,670 |
Income taxes | 75,497 | 69,993 | 62,620 |
Net Income | 170,891 | 159,649 | 144,050 |
Preferred stock dividends | 8,041 | 8,041 | 8,352 |
Net Income Available to Common Stockholders | $ 162,850 | $ 151,608 | $ 135,698 |
Net Income per Common Share | |||
Basic | $ 0.79 | $ 0.87 | $ 0.81 |
Diluted | 0.78 | 0.86 | 0.80 |
Cash Dividends Paid per Common Share | $ 0.48 | $ 0.48 | $ 0.48 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||
Net Income | $ 170,891 | $ 159,649 | $ 144,050 |
Securities available for sale: | |||
Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(7,477), $(1,561), and $13,593 | (13,886) | (2,899) | 25,242 |
Reclassification adjustment for gains included in net income, net of tax expense of $249, $288 and $4,101 | (463) | (534) | (7,616) |
Derivative instruments: | |||
Unrealized gains arising during the period, net of tax expense of $2,739, $1,887 and $4,629 | 5,086 | 3,504 | 8,597 |
Reclassification adjustment for gains included in net income, net of tax expense of $685, $1,035 and $1,160 | (1,272) | (1,921) | (2,154) |
Pension and postretirement benefit obligations: | |||
Unrealized gains (losses) arising during the period, net of tax expense (benefit) of $161, $(1,766) and $(7,080) | 299 | (3,280) | (13,148) |
Other comprehensive (loss) income | (10,236) | (5,130) | 10,921 |
Comprehensive income | $ 160,655 | $ 154,519 | $ 154,971 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||
Unrealized (losses) gains arising during the period, net of tax (benefit) expense | $ (7,477) | $ (1,561) | $ 13,593 |
Reclassification adjustment for gains included in net income, tax expense | 249 | 288 | 4,101 |
Unrealized gains arising during the period, tax expense | 2,739 | 1,887 | 4,629 |
Reclassification adjustment for gains included in net income, tax expense | 685 | 1,035 | 1,160 |
Unrealized gains (losses) arising during the period, net of tax expense (benefit) | $ 161 | $ (1,766) | $ (7,080) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
Balance at Dec. 31, 2013 | $ 1,774,383 | $ 106,882 | $ 1,592 | $ 1,608,117 | $ 121,870 | $ (56,924) | $ (7,154) |
Comprehensive income | 154,971 | 144,050 | 10,921 | ||||
Dividends declared: | |||||||
Preferred stock | (8,352) | (8,352) | |||||
Common stock: $0.48/share | (81,220) | (81,220) | |||||
Issuance of common stock | 5,192 | 23 | 14,524 | (228) | (9,127) | ||
Issuance of common stock - acquisitions | 170,150 | 139 | 170,011 | ||||
Restricted stock compensation | 3,618 | 3,618 | |||||
Tax benefit of stock-based compensation | 2,714 | 2,714 | |||||
Balance at Dec. 31, 2014 | 2,021,456 | 106,882 | 1,754 | 1,798,984 | 176,120 | (46,003) | (16,281) |
Comprehensive income | 154,519 | 159,649 | (5,130) | ||||
Dividends declared: | |||||||
Preferred stock | (8,041) | (8,041) | |||||
Common stock: $0.48/share | (84,511) | (84,511) | |||||
Issuance of common stock | 8,270 | 12 | 4,737 | 3,521 | |||
Restricted stock compensation | 4,461 | 4,461 | |||||
Tax benefit of stock-based compensation | 28 | 28 | |||||
Balance at Dec. 31, 2015 | 2,096,182 | 106,882 | 1,766 | 1,808,210 | 243,217 | (51,133) | (12,760) |
Comprehensive income | 160,655 | 170,891 | (10,236) | ||||
Dividends declared: | |||||||
Preferred stock | (8,041) | (8,041) | |||||
Common stock: $0.48/share | (101,670) | (101,670) | |||||
Issuance of common stock | 11,406 | 19 | 13,411 | (2,024) | |||
Issuance of common stock - acquisitions | 404,206 | 340 | 403,866 | ||||
Restricted stock compensation | 7,066 | 7,066 | |||||
Tax benefit of stock-based compensation | 1,813 | 1,813 | |||||
Balance at Dec. 31, 2016 | $ 2,571,617 | $ 106,882 | $ 2,125 | $ 2,234,366 | $ 304,397 | $ (61,369) | $ (14,784) |
Consolidated Statements of Sto8
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Stockholders' Equity [Abstract] | |||
Common stock dividends per share | $ 0.48 | $ 0.48 | $ 0.48 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Activities | |||
Net Income | $ 170,891 | $ 159,649 | $ 144,050 |
Adjustments to reconcile net income to net cash flows provided by operating activities: | |||
Depreciation, amortization and accretion | 60,503 | 43,949 | 40,119 |
Provision for credit losses | 55,752 | 40,441 | 38,648 |
Deferred tax expense | 15,250 | 550 | 44,113 |
Net securities gains | (712) | (822) | (11,717) |
Tax benefit of stock-based compensation | (1,813) | (28) | (2,714) |
Loans originated for sale | (713,087) | (445,558) | (162,010) |
Loans sold | 716,705 | 455,623 | 168,533 |
Gain on sale of loans | (10,746) | (8,666) | (5,565) |
Net change in: | |||
Interest receivable | (5,214) | (4,688) | (2,211) |
Interest payable | (150) | 760 | (875) |
Securities classified as trading in business combination and sold | 241,595 | ||
Bank owned life insurance | (5,373) | (6,397) | (10,401) |
Other, net | 10,702 | (11,333) | (34,746) |
Net cash flows provided by operating activities | 292,708 | 223,480 | 446,819 |
Investing Activities | |||
Net increase in loans and leases | (816,093) | (985,999) | (1,192,618) |
Securities available for sale: | |||
Purchases | (1,066,361) | (421,901) | (829,800) |
Sales | 615,199 | 33,499 | 175,872 |
Maturities | 543,923 | 284,483 | 303,875 |
Securities held to maturity: | |||
Purchases | (1,063,273) | (465,597) | (475,579) |
Sales | 4,570 | ||
Maturities | 357,111 | 277,967 | 213,730 |
Purchase of bank owned life insurance | (16,587) | (72,688) | (16) |
Withdrawal/surrender of bank owned life insurance | 72,664 | 21,968 | |
Increase in premises and equipment | (59,327) | (9,723) | (20,238) |
Net cash received in business combinations | 245,762 | 144,629 | 59,980 |
Net cash flows used in investing activities | (1,259,646) | (1,142,666) | (1,738,256) |
Financing Activities | |||
Demand (non-interest-bearing and interest-bearing) and savings accounts | 933,793 | 1,259,765 | 652,808 |
Time deposits | (119,734) | (166,283) | (292,026) |
Short-term borrowings | 251,713 | 7,238 | 789,318 |
Proceeds from issuance of long-term borrowings | 46,357 | 134,953 | 385,656 |
Repayment of long-term borrowings | (173,477) | (34,968) | (96,906) |
Net proceeds from issuance of common stock | 18,472 | 12,731 | 12,857 |
Tax benefit of stock-based compensation | 1,813 | 28 | 2,714 |
Cash dividends paid: | |||
Preferred stock | (8,041) | (8,041) | (8,352) |
Common stock | (101,670) | (84,511) | (81,220) |
Net cash flows provided by financing activities | 849,226 | 1,120,912 | 1,364,849 |
Net (Decrease) Increase in Cash and Cash Equivalents | (117,712) | 201,726 | 73,412 |
Cash and cash equivalents at beginning of year | 489,119 | 287,393 | 213,981 |
Cash and Cash Equivalents at End of Year | $ 371,407 | $ 489,119 | $ 287,393 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Our accompanying consolidated financial statements and these notes to the financial statements include subsidiaries in which we have a controlling financial interest. We own and operate FNBPA, First National Trust Company, First National Investment Services Company, LLC, F.N.B. Investment Advisors, Inc., First National Insurance Agency, LLC (FNIA), Regency, Bank Capital Services, LLC, and F.N.B. Capital Corporation, LLC, and include 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 our 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. Such reclassifications had no impact on our net income and stockholders’ equity. Events occurring subsequent to the date of the balance sheet have been evaluated for potential recognition or disclosure in the consolidated financial statements through the date of the filing of the consolidated financial statements with the Securities and Exchange Commission (SEC). Use of Estimates Our accounting and reporting policies conform with GAAP. The preparation of financial statements in conformity with GAAP requires us 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, accounting for acquired loans, fair value of financial instruments, goodwill and other intangible assets, litigation 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. non-controlling Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash items in transit and amounts due from the Federal Reserve Bank (FRB) and other depository institutions (including interest-bearing deposits). Securities Investment securities, which consist of debt securities and certain equity securities, comprise a significant portion of our consolidated balance sheets. Such securities can be classified as “trading,” “securities held to maturity” or “securities available for sale.” Securities acquired in conjunction with acquisitions during 2014 were classified as trading securities and were carried at fair value, with unrealized gains (losses) reflected through the consolidated statements of income. We both acquired and sold these trading securities during the quarters in which each of the acquisitions occurred. As of December 31, 2016 and 2015, we did not hold any trading securities. Securities held to maturity are comprised of debt securities, for which management has the positive intent and ability to hold until their maturity. Such securities are carried at cost, adjusted for related amortization of premiums and accretion of discounts through interest income from securities, and other-than-temporary impairment (OTTI), if any. Securities that are not classified as trading or held to maturity are classified as securities available for sale. Our available for sale securities portfolio is comprised of debt securities and marketable equity securities. Such securities are carried at fair value with net unrealized gains and losses deemed to be temporary and unrealized losses deemed to be other-than-temporary and attributable to non-credit non-interest We evaluate our investment securities portfolio for OTTI on a quarterly basis. Impairment is assessed at the individual security level. We consider an investment security impaired if the fair value of the security is less than its cost or amortized cost basis. When impairment of an equity security is considered to be other-than-temporary, the security is written down to its fair value and an impairment loss is recorded as a loss within non-interest non-interest If we intend to sell the debt security or it is more likely than not we will be required to sell the security before recovery of its amortized cost basis, OTTI must be recognized in earnings equal to the entire difference between the investments’ amortized cost basis and its fair value. If we do not intend to sell the debt security and it is not more likely than not that we will be required to sell the security before recovery of its amortized cost basis, OTTI must be separated into the amount representing credit loss and the amount related to all other market factors. The amount related to credit loss will be recognized in earnings. The amount related to other market factors will be recognized in other comprehensive income, net of applicable taxes. We perform our OTTI evaluation process in a consistent and systematic manner and include an evaluation of all available evidence. Documentation of the process is as extensive as necessary to support a conclusion as to whether a decline in fair value below cost or amortized cost is temporary or other-than-temporary and includes documentation supporting both observable and unobservable inputs and a rationale for conclusions reached. This process considers factors such as the severity, length of time and anticipated recovery period of the impairment, recoveries or additional declines in fair value subsequent to the balance sheet date, recent events specific to the issuer, including investment downgrades by rating agencies and economic conditions in its industry, and the issuer’s financial condition, repayment capacity, capital strength and near-term prospects. For debt securities, we also consider the payment structure of the debt security, the likelihood of the issuer being able to make future payments, failure of the issuer of the security to make scheduled interest and principal payments, whether we have made a decision to sell the security and whether our cash or working capital requirements or contractual or regulatory obligations indicate that the debt security will be required to be sold before a forecasted recovery occurs. For equity securities, we also consider our intent and ability to retain the security for a period of time sufficient to allow for a recovery in fair value. Among the factors that we consider in determining our intent and ability to retain the security is a review of our capital adequacy, interest rate risk position and liquidity. The assessment of a security’s ability to recover any decline in fair value, the ability of the issuer to meet contractual obligations, our intent and ability to retain the security, and whether it is more likely than not we will be required to sell the security before recovery of its amortized cost basis require considerable judgment. Debt securities with credit ratings below AA at the time of purchase that are repayment-sensitive securities are evaluated using the guidance of ASC 325, Investments – Other. Investments – Debt Securities Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase are accounted for as collateralized financing transactions and are recorded at the amounts at which the securities were sold plus accrued interest. Securities, generally U.S. government and federal agency securities, pledged as collateral under these financing arrangements cannot be sold or repledged by the secured party. The fair value of collateral either received from or provided to a third party is continually monitored and additional collateral is obtained or is requested to be returned to us as deemed appropriate. Derivative Instruments and Hedging Activities From time to time, we may enter into derivative transactions principally to protect against the risk of adverse price or interest rate movements on the value of certain assets and liabilities and on future cash flows. We formally document all relationships between hedging instruments and hedged items, as well as our risk management objective and strategy for undertaking each hedge transaction. All derivative instruments are carried at fair value on the balance sheet as either an asset or liability in accordance with the requirements of ASC 815, Derivatives and Hedging. Changes in fair value of a derivative instrument that has been designated and qualifies as a cash flow hedge are recorded in accumulated other comprehensive income (AOCI), net of tax. Amounts are reclassified from AOCI to the consolidated statements of income in the period or periods in which the hedged transaction affects earnings. At the hedge’s inception and at least quarterly thereafter, a formal assessment is performed to determine whether changes in the fair values or cash flows of the derivative instruments have been highly effective in offsetting changes in fair values or cash flows of the hedged items and whether they are expected to be highly effective in the future. If it is determined a derivative instrument has not been or will not continue to be highly effective as a hedge, hedge accounting is discontinued. Derivative gains and losses under cash flow hedges not effective in hedging the change in fair value or expected cash flows of the hedged item are recognized immediately in the consolidated statements of income. In addition, we enter into interest rate swap agreements to meet the financing, interest rate and equity risk management needs of qualifying commercial loan customers. These agreements provide the customer the ability to convert from variable to fixed interest rates. We then enter into positions with a derivative counterparty in order to offset our exposure on the fixed components of the customer agreements. The credit risk associated with derivatives executed with customers is essentially the same as that involved in extending loans and is subject to normal credit policies and monitoring. We seek to minimize counterparty credit risk by entering into transactions with only high-quality institutions. These arrangements meet the definition of derivatives, but are not designated as hedging instruments under ASC 815. The interest rate swap agreement with the loan customer and with the counterparty are 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. Mortgage Loans Held for Sale and Loan Commitments Certain residential mortgage loans are originated for sale in the secondary mortgage loan market. These loans are classified as loans held for sale and are carried at the lower of cost or estimated market value on an aggregate basis. Market value is determined on the basis of rates obtained in the respective secondary market for the type of loan held for sale. Loans are generally sold at a premium or discount from the carrying amount of the loan. Such premium or discount is recognized at the date of sale. Gain or loss on the sale of loans is recorded in non-interest We routinely issue interest rate lock commitments to make loans that we intend to sell. These commitments are considered derivatives. We also enter into commitments to sell loans to mitigate the risk that the market value of residential loans may decline between the time the rate commitment is issued to the customer and the time we contract to sell the loan. These commitments and sales contracts are also derivatives. Both types of derivatives are recorded at fair value. Sales contracts and commitments to make loans are not designated in a qualified hedge accounting program. Fair value adjustments related to these derivatives are recorded in current period earnings as part of mortgage banking income. Loans (Excluding Acquired Loans) Loans we originate and intend to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balances, net of any deferred origination fees or costs. Interest income on loans is computed over the term of the loans using the effective interest method. Loan origination fees and certain direct costs incurred to extend credit are deferred and amortized over the term of the loan or loan commitment period as an adjustment to the related loan yield. Non-performing Interest is not accrued on loans where collectability is uncertain. We discontinue interest accruals on originated loans generally when principal or interest is due and has remained unpaid for a certain number of days unless the loan is both well secured and in the process of collection. Commercial loans are placed on non-accrual non-accrual non-accrual When a loan is placed on non-accrual Loans are generally written off when deemed uncollectible or when they reach a predetermined number of days past due depending upon loan product, terms, and other factors. Recoveries of amounts previously charged off are credited to the allowance for credit losses. We consider a loan impaired when, based on current information and events, it is probable that we will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. The impairment loss is measured by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral, less estimated selling costs, if the loan is collateral dependent. Acquired impaired loans are not classified as non-performing 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality Restructured loans are those in which concessions of terms have been made as a result of deterioration in a borrower’s financial condition. In general, the modification or restructuring of a debt constitutes a troubled debt restructuring (TDR) if we for economic or legal reasons related to the borrower’s financial difficulties grant a concession to the borrower that we would not otherwise consider under current market conditions. Debt restructurings or loan modifications for a borrower occur during the normal course of business and do not necessarily constitute TDRs. To designate a loan as a TDR, the presence of both borrower financial distress and a concession of terms must exist. Additionally, a loan designated as a TDR does not necessarily result in the automatic placement of the loan on non-accrual non-accrual In accordance with ASC 310-40, 310-30 Allowance for Credit Losses The allowance for credit losses is established as losses are estimated to have occurred through a provision charged to earnings. Loan losses are charged against the allowance for credit losses when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance for credit losses. Allowances for impaired commercial loans over $500,000 are generally determined based on collateral values or the present value of estimated cash flows. All other impaired loans are evaluated in the aggregate based on loan segment loss given default. Changes in the allowance for credit losses related to impaired loans are charged or credited to the provision for credit losses. The allowance for credit losses is maintained at a level that, in management’s judgment, is believed appropriate to absorb probable losses associated with specifically identified loans, as well as estimated probable credit losses inherent in the remainder of the loan portfolio. The appropriateness of the allowance for credit losses is based on management’s evaluation of potential loan losses in the loan portfolio, which includes an assessment of past experience, current economic conditions in specific industries and geographic areas, general economic conditions, known and inherent risks in the loan portfolio, the estimated value of underlying collateral and residuals and changes in the composition of the loan portfolio. Determination of the allowance for credit losses is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on transition matrices with predefined loss emergence periods and consideration of qualitative factors, all of which are susceptible to significant change. Credit impaired loans obtained through acquisitions are accounted for under the provisions of ASC 310-30. 310-30. 310-30 Acquired Loans Acquired loans (impaired and non-impaired) The carryover of allowance for credit losses related to acquired loans is prohibited as any credit losses in the loans are included in the determination of the fair value of the loans at the acquisition date. The allowance for credit losses on acquired loans reflects only those losses incurred after acquisition and represents the present value of cash flows expected at acquisition that is no longer expected to be collected. At acquisition, we consider the following factors as indicators that an acquired loan has evidence of deterioration in credit quality and is therefore impaired and in the scope of ASC 310-30: • loans that were 90 days or more past due; • loans that had an internal risk rating of substandard or worse. Substandard is consistent with regulatory definitions and is defined as having a well-defined weakness that jeopardizes liquidation of the loan; • loans that were classified as non-accrual • loans that had been previously modified in a TDR. Any acquired loans that were not individually in the scope of ASC 310-30 310-30 non-impaired 310-30. 310-30 310-20 The excess of cash flows expected to be collected at acquisition over recorded fair value is referred to as the accretable yield. The accretable yield is recognized into income over the remaining life of the loan, or pool of loans, using an effective yield method, if the timing and/or amount of cash flows expected to be collected can be reasonably estimated (the accretion model). If the timing and/or amount of cash flows expected to be collected cannot be reasonably estimated, the cost recovery method of income recognition must be used. The difference between the loan’s total scheduled principal and interest payments over all cash flows expected at acquisition is referred to as the non-accretable non-accretable Over the life of the acquired loan, we continue to estimate cash flows expected to be collected. Decreases in expected cash flows, other than from prepayments or rate adjustments, are recognized as impairments through a charge to the provision for credit losses resulting in an increase in the allowance for credit losses. Subsequent improvements in cash flows result in first, reversal of existing valuation allowances recognized subsequent to acquisition, if any, and next, an increase in the amount of accretable yield to be subsequently recognized on a prospective basis over the loan’s remaining life. Acquired loans that met the criteria for non-accrual non-accrual non-performing Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the asset’s estimated useful life. Leasehold improvements are expensed over the lesser of the asset’s estimated useful life or the term of the lease including renewal periods when reasonably assured. Useful lives are dependent upon the nature and condition of the asset and range from 3 to 40 years. Maintenance and repairs are charged to expense as incurred, while major improvements are capitalized and amortized to expense over the identified useful life. Cloud Computing Arrangements Beginning in 2016, for new or materially modified contracts, we 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 internal-use non-interest Other Real Estate Owned Other real estate owned (OREO) is comprised principally of commercial and residential real estate properties obtained in partial or total satisfaction of loan obligations. OREO acquired in settlement of indebtedness is included in other assets initially at the lower of estimated fair value of the asset less estimated selling costs or the carrying amount of the loan. Changes to the value subsequent to transfer are recorded in non-interest non-interest Goodwill and Other Intangible Assets Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. Other intangible assets represent purchased assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights. Intangible assets that have finite lives, such as core deposit intangibles, customer relationship intangibles and renewal lists, are amortized over their estimated useful lives and subject to periodic impairment testing. Core deposit intangibles are primarily amortized over ten years using accelerated methods. Customer renewal lists and mortgage servicing rights are amortized over their estimated useful lives which range from eight to thirteen years. Goodwill and other intangibles are subject to impairment testing at the reporting unit level, which must be conducted at least annually. We perform impairment testing during the fourth quarter of each year, or more frequently if impairment indicators exist. We also continue to monitor other intangibles for impairment and to evaluate carrying amounts, as necessary. We perform a quantitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing updated quantitative factors, we determine it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, we do not have to perform the two-step Income Taxes We file a consolidated federal income tax return. The provision for federal and state income taxes is based on income reported on the consolidated financial statements, rather than the amounts reported on the respective income tax returns. Deferred tax assets and liabilities are computed using tax rates expected to apply to taxable income in the years in which those assets and liabilities are expected to be realized. The effect on deferred tax assets and liabilities resulting from a change in tax rates is recognized as income or expense in the period that the change in tax rates is enacted. We make certain estimates and judgments in determining income tax expense for financial statement purposes. These estimates and judgments are applied in the calculation of certain tax credits and in the calculation of the deferred income tax expense or benefit associated with certain deferred tax assets and liabilities. Significant changes to these estimates may result in an increase or decrease to our tax provision in a subsequent period. We recognize interest and/or penalties related to income tax matters in income tax expense. We assess the likelihood that we will be able to recover our deferred tax assets. If recovery is not likely, we will increase our provision for income taxes by recording a valuation allowance against the deferred tax assets that are unlikely to be recovered. We believe that we will ultimately recover the deferred tax assets recorded on our balance sheet. However, should there be a change in our ability to recover our deferred tax assets, the effect of this change would be recorded through the provision for income taxes in the period during which such change occurs. We periodically review the tax positions we take on our tax return and apply a more likely than not recognition threshold for all tax positions that are uncertain. The amount recognized in the financial statements is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more likely than not test, no tax benefit is recorded. Advertising and Promotional Costs Advertising and promotional costs are generally expensed as incurred. Per Share Amounts Earnings per common share is computed using net income available to common stockholders, which is net income adjusted for preferred stock dividends. 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 net income available to common stockholders and the weighted average number of shares of common stock outstanding are made only when such adjustments dilute earnings per common share. Retirement Plans FNB sponsors retirement plans for our employees. The expense associated with the plans is calculated in accordance with ASC 715, Compensation – Retirement Benefits Stock Based Compensation We account for our 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 our consolidated statement 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 our 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. |
New Accounting Standards
New Accounting Standards | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Changes and Error Corrections [Abstract] | |
New Accounting Standards | 2. NEW ACCOUNTING STANDARDS The following paragraphs summarize accounting pronouncements applicable to FNB that have been issued by the Financial Accounting Standards Board (FASB) but are not yet effective. Goodwill Accounting Standards Update (ASU or Update) 2017-04, Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment Business Combinations ASU 2017-01, Business Combinations (Topic 850): Clarifying the Definition of a Business Statement of Cash Flows ASU 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 held-to-maturity off-balance available-for-sale 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), We expect to adopt ASU 2014-09 2014-09 non-interest out-of-scope 2014-09 2014-09. 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), 815-15-25-42. 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): Leases ASU 2016-02, Leases (Topic 842), Financial Instruments – Recognition and Measurement ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): |
Mergers and Acquisitions
Mergers and Acquisitions | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Mergers and Acquisitions | 3. MERGERS AND ACQUISITIONS Branch Purchase – Fifth Third Bank On April 22, 2016, we completed our 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 $312.4 million, including $198.9 million in cash, $95.4 million in loans and $14.1 million in fixed and other assets. We also assumed $302.5 million in deposits, for which we paid a deposit premium of 1.97%, as part of the transaction. The assets and liabilities relating to these purchased branches were recorded on our balance sheet at their fair values as of April 22, 2016, and the related results of operations for these branches have been included in our consolidated income statement since that date. We recorded $14.1 million in goodwill and $4.1 million in core deposit intangibles as a result of the purchase transaction. The goodwill for this transaction is deductible for income tax purposes. Metro Bancorp, Inc. On February 13, 2016, we completed our acquisition of Metro Bancorp, Inc. (METR), a bank holding company based in Harrisburg, Pennsylvania. The acquisition enhances our distribution and scale across Central Pennsylvania, strengthens our position as the largest Pennsylvania-based regional bank and allows us to leverage the significant infrastructure investments made in connection with the expansion of our product offerings and risk management systems. On the acquisition date, the 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 $404.2 million and resulted in FNB issuing 34,041,181 shares of our common stock in exchange for 14,345,319 shares of METR common stock. We also acquired the fully vested outstanding stock options of METR. The assets and liabilities of METR were recorded on our consolidated balance sheet at their fair values as of February 13, 2016, the acquisition date, and METR’s results of operations have been included in our consolidated income statement since that date. METR’s banking affiliate, Metro Bank, was merged into FNBPA on February 13, 2016. Based on the purchase price allocation, we recorded $185.1 million in goodwill and $24.2 million in core deposit intangibles as a result of the acquisition. None of the goodwill is deductible for income tax purposes as the acquisition is accounted for as a tax-free The following pro forma financial information for the year ended December 31, 2015 reflects our 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 we expect to receive as a result of the acquisition: (dollars in thousands) FNB METR Pro Forma Adjustments Pro Forma Combined Revenue (net interest income and non-interest $ 660,632 $ 134,003 $ (4,244 ) $ 790,391 Net income 159,649 20,215 (8,014 ) 171,850 Net income available to common stockholders 151,608 20,135 (7,934 ) 163,809 Earnings per common share – basic 0.87 1.42 — 0.78 Earnings per common share – diluted 0.86 1.40 — 0.78 The pro forma adjustments reflect amortization and associated taxes related to the purchase accounting adjustments made to record various acquired items at fair value. The revenue and earnings of METR since the acquisition date of February 13, 2016 are included in our financial statements and it is not practical to disclose them separately. In connection with the METR acquisition, we incurred expenses related to systems conversions and other costs of integrating and conforming acquired operations with and into FNB. These merger-related charges, that were expensed as incurred, amounted to $31.0 million and $1.3 million for the years ended December 31, 2016 and 2015. Severance costs comprised 40.4% of the merger-related expense, with the remainder consisting of other non-interest paid-in Branch Purchase – Bank of America On September 18, 2015, we completed our 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. We also assumed $154.6 million in deposits associated with these branches. We paid a deposit premium of 1.96% and acquired an immaterial amount of loans as part of the transaction. Our operating results for 2015 include the impact of branch activity subsequent to the September 18, 2015 closing date. We recorded $1.5 million in goodwill and $3.0 million in core deposit intangibles as a result of the purchase transaction. The goodwill for this transaction is deductible for income tax purposes. Insurance Brokerage Purchases On June 22 and July 18, 2015, we, through our wholly-owned subsidiary, FNIA, acquired certain insurance-related assets from Pittsburgh-area insurance brokerage firms. Under the combined purchase agreements, we paid $3.4 million in cash and recorded goodwill of $1.8 million, other intangibles of $1.4 million and miscellaneous other assets of $241,000 in connection with these acquisitions. OBA Financial Services, Inc. On September 19, 2014, we completed our acquisition of OBA Financial Services, Inc. (OBA), a bank holding company based in Germantown, Maryland. On the acquisition date, the fair values of OBA included $390.2 million in assets, $291.4 million in loans and $295.9 million in deposits. The acquisition was valued at $85.6 million and resulted in FNB issuing 7,170,037 shares of our common stock in exchange for 4,025,895 shares of OBA common stock. We also acquired the outstanding stock options of OBA that became fully vested upon the acquisition. The assets and liabilities of OBA were recorded on our consolidated balance sheet at their fair values as of September 19, 2014, the acquisition date, and OBA’s results of operations have been included in our consolidated income statements since that date. OBA’s banking affiliate, OBA Bank, was merged into FNBPA on September 19, 2014. Based on the purchase price allocation, we recorded $20.1 million in goodwill and $4.3 million in core deposit intangibles as a result of the acquisition. None of the goodwill is deductible for income tax purposes. BCSB Bancorp, Inc. On February 15, 2014, we completed our acquisition of BCSB Bancorp, Inc. (BCSB), a bank holding company based in Baltimore, Maryland. On the acquisition date, the fair values of BCSB included $596.1 million in assets, $304.9 million in loans and $532.2 million in deposits. The acquisition was valued at $80.5 million and resulted in FNB issuing 6,730,597 shares of our common stock in exchange for 3,235,961 shares of BCSB common stock. We also acquired the outstanding stock options of BCSB that became fully vested upon the acquisition. The assets and liabilities of BCSB were recorded on our consolidated balance sheet at their fair values as of February 15, 2014, the acquisition date, and BCSB’s results of operations have been included in our consolidated income statements since that date. BCSB’s banking affiliate, Baltimore County Savings Bank, was merged into FNBPA on February 15, 2014. Based on the purchase price allocation, we recorded $42.5 million in goodwill and $6.6 million in core deposit intangibles as a result of the acquisition. None of the goodwill 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 noted above: (in thousands) Fifth Third METR BofA Branches OBA BCSB Fair value of consideration paid $ — $ 404,207 $ — $ 85,554 $ 80,547 Fair value of identifiable assets acquired: Cash and cash equivalents 198,872 46,890 148,159 32,913 26,980 Securities — 722,980 — 39,891 208,538 Loans 95,354 1,862,447 842 291,393 304,932 Core deposit intangibles 4,129 24,163 3,000 4,304 6,591 Fixed and other assets 14,069 127,185 1,133 21,659 49,081 Total identifiable assets acquired 312,424 2,783,665 153,134 390,160 596,122 Fair value of liabilities assumed: Deposits 302,529 2,328,238 154,619 295,922 532,197 Borrowings — 227,539 — 27,602 17,011 Other liabilities 24,041 8,735 — 1,189 8,819 Total liabilities assumed 326,570 2,564,512 154,619 324,713 558,027 Fair value of net identifiable assets acquired (14,146 ) 219,153 (1,485 ) 65,447 38,095 Goodwill recognized (1) $ 14,146 $ 185,054 $ 1,485 $ 20,107 $ 42,452 (1) All of the goodwill for these transactions has been recorded in the Community Banking segment. Pending Acquisition – Yadkin Financial Corporation On July 20, 2016, we 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 acquisition is valued at approximately $1.4 billion (using the December 30, 2016 FNB stock price of $16.03 per share, the acquisition is valued at $1.8 billion). Under the terms of the merger agreement, YDKN common stockholders will be entitled to receive 2.16 shares of FNB common stock for each share of YDKN common stock. We expect to issue approximately 111.7 million shares of our common stock in exchange for approximately 51.7 million shares of YDKN common stock. YDKN’s banking affiliate, Yadkin Bank, will merge into FNBPA on the acquisition date. This acquisition will enable us to enter attractive North Carolina markets, including Raleigh, Charlotte and the Piedmont Triad, which is comprised of Winston-Salem, Greensboro and High Point. This transaction is expected to be completed in March 2017, pending regulatory approvals and the satisfaction of other closing conditions. The transaction has already been approved by the stockholders of both FNB and YDKN. |
Securities
Securities | 12 Months Ended |
Dec. 31, 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 Securities Available for Sale (AFS): December 31, 2016 U.S. Treasury $ 29,874 $ 79 $ — $ 29,953 U.S. government-sponsored entities 367,604 864 (3,370 ) 365,098 Residential mortgage-backed securities: Agency mortgage-backed securities 1,267,535 2,257 (16,994 ) 1,252,798 Agency collateralized mortgage obligations 546,659 419 (11,104 ) 535,974 Non-agency 891 6 — 897 Commercial mortgage-backed securities 1,292 — (1 ) 1,291 States of the U.S. and political subdivisions 36,065 86 (302 ) 35,849 Other debt securities 9,828 94 (435 ) 9,487 Total debt securities 2,259,748 3,805 (32,206 ) 2,231,347 Equity securities 273 367 — 640 Total securities available for sale $ 2,260,021 $ 4,172 $ (32,206 ) $ 2,231,987 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 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 December 31, 2014 U.S. Treasury $ 29,604 $ 78 $ — $ 29,682 U.S. government-sponsored entities 338,330 742 (1,939 ) 337,133 Residential mortgage-backed securities: Agency mortgage-backed securities 546,572 7,548 (35 ) 554,085 Agency collateralized mortgage obligations 580,601 1,617 (9,047 ) 573,171 Non-agency 1,414 17 — 1,431 Commercial mortgage-backed securities 7,891 — (11 ) 7,880 States of the U.S. and political subdivisions 12,713 477 (32 ) 13,158 Other debt securities 16,615 420 (857 ) 16,178 Total debt securities 1,533,740 10,899 (11,921 ) 1,532,718 Equity securities 1,031 316 — 1,347 Total securities available for sale $ 1,534,771 $ 11,215 $ (11,921 ) $ 1,534,065 (in thousands) Amortized Cost Gross Gross Fair Securities Held to Maturity (HTM): December 31, 2016 U.S. Treasury $ 500 $ 137 $ — $ 637 U.S. government-sponsored entities 272,645 348 (4,475 ) 268,518 Residential mortgage-backed securities: Agency mortgage-backed securities 852,215 5,654 (8,645 ) 849,224 Agency collateralized mortgage obligations 743,148 447 (17,801 ) 725,794 Non-agency 1,689 3 (6 ) 1,686 Commercial mortgage-backed securities 49,797 181 (226 ) 49,752 States of the U.S. and political subdivisions 417,348 1,456 (19,638 ) 399,166 Total securities held to maturity $ 2,337,342 $ 8,226 $ (50,791 ) $ 2,294,777 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 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 December 31, 2014 U.S. Treasury $ 502 $ 168 $ — $ 670 U.S. government-sponsored entities 101,602 885 (524 ) 101,963 Residential mortgage-backed securities: Agency mortgage-backed securities 677,169 16,712 (346 ) 693,535 Agency collateralized mortgage obligations 501,965 1,858 (7,329 ) 496,494 Non-agency 4,285 28 — 4,313 Commercial mortgage-backed securities 17,560 179 — 17,739 States of the U.S. and political subdivisions 150,272 3,315 (43 ) 153,544 Total securities held to maturity $ 1,453,355 $ 23,145 $ (8,242 ) $ 1,468,258 Gross gains and gross losses were realized on securities as follows: Year Ended December 31 2016 2015 2014 (in thousands) Gross gains $ 713 $ 831 $ 20,241 Gross losses (1 ) (9 ) (8,524 ) Net gains $ 712 $ 822 $ 11,717 During 2014, we strategically sold our entire portfolio of pooled trust preferred securities (TPS) with net proceeds of $51.5 million and a gain of $13.8 million. These were previously classified as collateralized debt obligations (CDOs) available for sale. Of the 23 pooled securities sold, one was determined to be a disallowed investment under the Volcker Rule (Section 619) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), and as such, was required to be disposed of by July 2016. Partially offsetting this gain was a net loss of $2.0 million relating to the sale of other securities. By selling these securities, we strengthened the risk profile of our investment portfolio, improved our capital levels due to lowered risk-weighted assets and generated capital to support future growth. As of December 31, 2016, the amortized cost and fair value of securities, by contractual maturities, were as follows: Available for Sale Held to Maturity (in thousands) Amortized Fair Amortized Fair Due in one year or less $ 84,929 $ 85,222 $ 10,395 $ 10,404 Due from one to five years 330,096 327,428 271,662 267,497 Due from five to ten years 21,064 20,973 50,994 50,567 Due after ten years 7,282 6,764 357,442 339,853 443,371 440,387 690,493 668,321 Residential mortgage-backed securities: Agency mortgage-backed securities 1,267,535 1,252,798 852,215 849,224 Agency collateralized mortgage obligations 546,659 535,974 743,148 725,794 Non-agency 891 897 1,689 1,686 Commercial mortgage-backed securities 1,292 1,291 49,797 49,752 Equity securities 273 640 — — Total securities $ 2,260,021 $ 2,231,987 $ 2,337,342 $ 2,294,777 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 residential mortgage-backed securities based on the payment patterns of the underlying collateral. Following is information relating to securities pledged: December 31 2016 2015 (dollars in thousands) Securities pledged (carrying value): To secure public deposits, trust deposits and for other purposes as required by law $ 2,779,335 $ 1,728,939 As collateral for short-term borrowings 322,038 272,629 Securities pledged as a percent of total securities 67.9 % 61.3 % Following are summaries of the fair values and unrealized losses of securities, segregated by length of impairment: Less than 12 Months Greater than 12 Months Total (dollars in thousands) # Fair Value Unrealized Losses # Fair Unrealized # Fair Value Unrealized Securities Available for Sale: December 31, 2016 U.S. government-sponsored entities 11 $ 211,636 $ (3,370 ) — — — 11 $ 211,636 $ (3,370 ) Residential mortgage-backed securities: Agency mortgage-backed securities 55 1,056,731 (16,994 ) — — — 55 1,056,731 (16,994 ) Agency collateralized mortgage obligations 26 346,662 (7,261 ) 9 $ 89,040 $ (3,843 ) 35 435,702 (11,104 ) Commercial mortgage-backed securities 1 1,291 (1 ) — — — 1 1,291 (1 ) States of the U.S. and political subdivisions 20 28,631 (302 ) — — — 20 28,631 (302 ) Other debt securities — — — 3 4,470 (435 ) 3 4,470 (435 ) Total temporarily impaired securities AFS 113 $ 1,644,951 $ (27,928 ) 12 $ 93,510 $ (4,278 ) 125 $ 1,738,461 $ (32,206 ) 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 temporarily impaired securities AFS 36 $ 589,609 $ (5,027 ) 23 $ 254,062 $ (8,326 ) 59 $ 843,671 $ (13,353 ) Securities Held to Maturity: December 31, 2016 U.S. government-sponsored entities 10 $ 185,525 $ (4,475 ) — — — 10 $ 185,525 $ (4,475 ) Residential mortgage-backed securities: Agency mortgage-backed securities 36 551,404 (8,645 ) — — — 36 551,404 (8,645 ) Agency collateralized mortgage obligations 29 516,237 (13,710 ) 12 $ 112,690 (4,091 ) 41 628,927 (17,801 ) Non-agency 3 1,128 (6 ) — — — 3 1,128 (6 ) Commercial mortgage-backed securities 1 12,317 (10 ) 1 8,267 (216 ) 2 20,584 (226 ) States of the U.S. and political subdivisions 94 247,301 (19,638 ) — — — 94 247,301 (19,638 ) Total temporarily impaired securities HTM 173 $ 1,513,912 $ (46,484 ) 13 $ 120,957 $ (4,307 ) 186 $ 1,634,869 $ (50,791 ) 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 temporarily impaired securities HTM 43 $ 466,354 $ (3,126 ) 16 $ 176,411 $ (6,462 ) 59 $ 642,765 $ (9,588 ) We do not intend to sell the debt securities and it is not more likely than not we will be required to sell the securities before recovery of their amortized cost basis. Other-Than-Temporary Impairment We evaluate our investment securities portfolio for OTTI on a quarterly basis. Impairment is assessed at the individual security level. We consider 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 Year Ended December 31, 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 (27 ) (27 ) Ending balance $ — $ — For the Year Ended December 31, 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 We did not recognize any OTTI losses on securities for the years ended December 31, 2016, 2015 and 2014. States of the U.S. and Political Subdivisions Our municipal bond portfolio of $453.2 million as of December 31, 2016 is highly rated with an average entity-specific rating of AA and 99.0% of the portfolio rated A or better. All of the securities in the municipal portfolio are general obligation bonds. Geographically, municipal bonds support our primary footprint as 83.6% 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 $2.2 million. In addition to the strong stand-alone ratings, 72.0% of the municipalities have some formal credit enhancement insurance that strengthens the creditworthiness of their issue. Management also reviews the credit profile of each issuer on a quarterly basis. |
Federal Home Loan Bank Stock
Federal Home Loan Bank Stock | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Federal Home Loan Bank Stock | 5. FEDERAL HOME LOAN BANK STOCK We are a member of the Federal Home Loan Bank (FHLB) of Pittsburgh. The FHLB requires members to purchase and hold a specified minimum level of FHLB stock based upon their level of borrowings, collateral balances and participation in other programs offered by the FHLB. Stock in the FHLB is non-marketable Members do not purchase stock in the FHLB for the same reasons that traditional equity investors acquire stock in an investor-owned enterprise. Rather, members purchase stock to obtain access to the low-cost for-profit At December 31, 2016 and 2015, our FHLB stock totaled $85.0 million and $72.9 million, respectively, and is included in other assets on the consolidated balance sheets. We account for the stock in accordance with ASC 325, which requires the investment to be carried at cost and evaluated for impairment based on the ultimate recoverability of the par value. Due to the continued improvement of the FHLB’s financial performance and stability over the past several years, along with a special dividend in 2015, combined with regular quarterly dividends in 2015 and 2016, we believe our holdings in FHLB stock are ultimately recoverable at par value and, therefore, determined that the stock was not other-than-temporarily impaired. In addition, we have ample liquidity and do not require redemption of our FHLB stock in the foreseeable future. |
Loans and Leases
Loans and Leases | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Loans and Leases | 6. LOANS AND LEASES Following is a summary of loans and leases, net of unearned income: (in thousands) Originated Loans and Acquired Total Loans and December 31, 2016 Commercial real estate $ 4,095,817 $ 1,339,345 $ 5,435,162 Commercial and industrial 2,711,886 330,895 3,042,781 Commercial leases 196,636 — 196,636 Total commercial loans and leases 7,004,339 1,670,240 8,674,579 Direct installment 1,765,257 79,142 1,844,399 Residential mortgages 1,446,776 397,798 1,844,574 Indirect installment 1,196,110 203 1,196,313 Consumer lines of credit 1,099,627 201,573 1,301,200 Other 35,878 — 35,878 Total loans and leases, net of unearned income $ 12,547,987 $ 2,348,956 $ 14,896,943 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 • Commercial and industrial includes loans to businesses that are not secured by real estate; • Commercial leases consist of leases for new or used equipment; • Direct installment is comprised of fixed-rate, closed-end • Residential mortgages consist of conventional and jumbo mortgage loans for 1-4 • Indirect installment is comprised of loans originated by approved third parties and underwritten by us, 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 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 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: December 31 2016 2015 (dollars in thousands) Regency consumer finance loans $ 184,687 $ 186,162 Percent of total loans and leases 1.2 % 1.5 % The following table shows certain information relating to commercial real estate loans: December 31 2016 2015 (dollars in thousands) Commercial construction loans $ 459,995 $ 352,322 Percent of total loans and leases 3.1 % 2.9 % Commercial real estate: Percent owner-occupied 36.2 % 38.1 % Percent non-owner-occupied 63.8 % 61.9 % We have extended credit to certain directors and executive officers and their related interests. These related-party loans were made in the ordinary course of business under normal credit terms and do not involve more than a normal risk of collection. Following is a summary of the activity for these loans to related parties during 2016: (in thousands) Balance at beginning of period $ 41,801 New loans 4,246 Repayments (4,013 ) Other (20,465 ) Balance at end of period $ 21,569 Other represents the net change in loan balances resulting from changes in related parties during 2016. Acquired Loans All acquired loans were initially recorded at fair value at the acquisition date. Refer to the Acquired Loans section in Note 1, “Summary of Significant Accounting Policies,” for a discussion of ASC 310-20 310-30 December 31 2016 2015 (in thousands) Accounted for under ASC 310-30: Outstanding balance $ 2,346,687 $ 1,258,418 Carrying amount 2,015,904 1,011,139 Accounted for under ASC 310-20: Outstanding balance 342,015 146,161 Carrying amount 325,784 140,595 Total acquired loans: Outstanding balance 2,688,702 1,404,579 Carrying amount 2,341,688 1,151,734 The carrying amount of purchased credit impaired loans included in the table above totaled $2.8 million at December 31, 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. 310-20 Year Ended December 31 2016 2015 (in thousands) Balance at beginning of period $ 256,120 $ 331,899 Acquisitions 308,312 — Reduction due to unexpected early payoffs (86,046 ) (47,075 ) Reclass from non-accretable 92,823 32,141 Disposals/transfers (409 ) (674 ) Accretion (103,730 ) (60,171 ) Balance at end of period $ 467,070 $ 256,120 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 impairment through a charge to the provision for credit losses and credit to the allowance for credit losses. During 2016, there was an overall improvement in cash flow expectations which resulted in a reclassification of $92.8 million from the non-accretable non-accretable The following table reflects amounts at acquisition for all purchased loans subject to ASC 310-30 non-impaired (in thousands) Acquired Acquired Performing Loans Total Contractually required cash flows at acquisition $ 99,611 $ 2,191,476 $ 2,291,087 Non-accretable (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 Credit Quality Management monitors the credit quality of our loan portfolio and uses several performance measures to do so based on payment activity and borrower performance. Non-performing non-accrual non-performing non-accrual non-accrual non-accrual non-accrual non-accrual non-accrual non-accrual Non-accrual Following is a summary of non-performing December 31 2016 2015 (dollars in thousands) Non-accrual $ 65,479 $ 49,897 Troubled debt restructurings 20,428 22,028 Total non-performing 85,907 71,925 Other real estate owned (OREO) 32,490 38,918 Total non-performing $ 118,397 $ 110,843 Asset quality ratios: Non-performing 0.58 % 0.59 % Non-performing 0.79 % 0.91 % Non-performing 0.54 % 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 amounted to $5.3 million at December 31, 2016. Also, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process at December 31, 2016 amounted to $12.0 million. The following tables provide an analysis of the aging of loans by class segregated by loans and leases originated and loans acquired: (in thousands) 30-89 Days Past Due ³ 90 Days and Still Non- Accrual Total Past Due Current Total Loans and Originated Loans and Leases December 31, 2016 Commercial real estate $ 8,452 $ 1 $ 20,114 $ 28,567 $ 4,067,250 $ 4,095,817 Commercial and industrial 16,019 3 24,141 40,163 2,671,723 2,711,886 Commercial leases 973 1 3,429 4,403 192,233 196,636 Total commercial loans and leases 25,444 5 47,684 73,133 6,931,206 7,004,339 Direct installment 10,573 4,386 6,484 21,443 1,743,814 1,765,257 Residential mortgages 10,594 3,014 3,316 16,924 1,429,852 1,446,776 Indirect installment 9,312 513 1,983 11,808 1,184,302 1,196,110 Consumer lines of credit 3,529 1,112 1,616 6,257 1,093,370 1,099,627 Other 398 83 1,000 1,481 34,397 35,878 Total originated loans and leases $ 59,850 $ 9,113 $ 62,083 $ 131,046 $ 12,416,941 $ 12,547,987 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)/ Premium Total Loans Acquired Loans December 31, 2016 Commercial real estate $ 9,501 $ 23,890 $ 949 $ 34,340 $ 1,384,752 $ (79,747 ) $ 1,339,345 Commercial and industrial 1,789 2,942 2,111 6,842 353,494 (29,441 ) 330,895 Total commercial loans 11,290 26,832 3,060 41,182 1,738,246 (109,188 ) 1,670,240 Direct installment 2,317 1,344 — 3,661 73,479 2,002 79,142 Residential mortgages 8,428 10,816 — 19,244 416,561 (38,007 ) 397,798 Indirect installment 19 4 — 23 96 84 203 Consumer lines of credit 2,156 1,528 336 4,020 201,958 (4,405 ) 201,573 Total acquired loans $ 24,210 $ 40,524 $ 3,396 $ 68,130 $ 2,430,340 $ (149,514 ) $ 2,348,956 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 loans acquired is based on the contractual balance outstanding at December 31, 2016 and 2015. (2) Acquired loans are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if we can reasonably estimate the timing and amount of expected cash flows on such loans. In these instances, we do not consider acquired contractually delinquent loans to be non-accrual non-performing non-accrual non-performing non-accrual non-performing. We utilize the following categories to monitor credit quality within our commercial loan and lease portfolio: Rating Definition Pass in general, the condition of the borrower and the performance of the loan 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 of the borrower has significantly deteriorated and the performance of the loan 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 portfolio permits management’s use of transition matrices to estimate a quantitative portion of credit risk. Our internal credit risk grading system is based on past experiences with similarly graded loans and conforms with regulatory categories. In general, loan risk ratings within each category are reviewed on an ongoing basis according to our policy for each class of loans. 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 portfolio. Loans within the Pass credit category or that migrate toward the Pass credit category generally have a lower risk of loss compared to loans 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 our commercial loans 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 December 31, 2016 Commercial real estate $ 3,895,764 $ 130,452 $ 69,588 $ 13 $ 4,095,817 Commercial and industrial 2,475,955 104,652 128,089 3,190 2,711,886 Commercial leases 188,662 3,789 4,185 — 196,636 Total originated commercial loans and leases $ 6,560,381 $ 238,893 $ 201,862 $ 3,203 $ 7,004,339 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 December 31, 2016 Commercial real estate $ 1,144,676 $ 85,894 $ 108,128 $ 647 $ 1,339,345 Commercial and industrial 274,819 20,593 34,967 516 330,895 Total acquired commercial loans $ 1,419,495 $ 106,487 $ 143,095 $ 1,163 $ 1,670,240 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 December 31, 2016 and 2015. We use 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 and other loans by payment status: Consumer Loan Credit Quality by Payment Status (in thousands) Performing Non-Performing Total December 31, 2016 Direct installment $ 1,750,305 $ 14,952 $ 1,765,257 Residential mortgages 1,433,409 13,367 1,446,776 Indirect installment 1,193,930 2,180 1,196,110 Consumer lines of credit 1,096,642 2,985 1,099,627 Total originated consumer loans $ 5,474,286 $ 33,484 $ 5,507,770 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 Total originated consumer loans $ 4,693,295 $ 30,116 $ 4,723,411 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, we do not consider loans and leases for impairment unless a sustained period of delinquency (i.e., 90-plus non-accrual, 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 Year Ended December 31, 2016 Commercial real estate $ 23,771 $ 19,699 $ 464 $ 20,163 $ 13 $ 19,217 Commercial and industrial 25,719 14,781 8,996 23,777 3,190 29,730 Commercial leases 3,429 3,429 — 3,429 — 3,394 Total commercial loans and leases 52,919 37,909 9,460 47,369 3,203 52,341 Direct installment 16,440 14,952 — 14,952 — 14,997 Residential mortgages 14,090 13,367 — 13,367 — 13,200 Indirect installment 5,172 2,180 — 2,180 — 2,037 Consumer lines of credit 3,858 2,985 — 2,985 — 2,813 Other 1,000 1,000 — 1,000 — 1,000 Total $ 93,479 $ 72,393 $ 9,460 $ 81,853 $ 3,203 $ 86,388 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 continued to accrue on impaired loans that were still accruing and totaled approximately $4.6 million, $4.1 million and $3.7 million during 2016, 2015 and 2014, respectively. The above tables do not reflect the additional allowance for credit losses relating to acquired loans in the following pools and categories: December 31 2016 2015 (in thousands) Commercial real estate $ 4,538 $ 3,073 Commercial and industrial 500 695 Total commercial loans 5,038 3,768 Direct installment 1,005 1,557 Residential mortgages 632 659 Indirect installment 221 221 Consumer lines of credit 372 522 Total allowance on acquired loans $ 7,268 $ 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 composition of total TDRs: December 31 2016 2015 (in thousands) Accruing: Performing $ 17,470 $ 15,165 Non-performing 20,428 22,028 Non-accrual 9,035 8,307 Total TDRs $ 46,933 $ 45,500 TDRs that are accruing and performing include loans that met the criteria for non-accrual non-performing non-accrual Excluding purchased impaired loans, commercial loans over $500,000 whose terms have been modified in a TDR are generally placed on non-accrual, charged-off December 31 2016 2015 (in thousands) Specific reserves for commercial TDRs $ 291 $ 300 Pooled reserves for individual commercial loans under $500 276 929 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. Our allowance for credit losses included pooled reserves for these classes of loans of $3.7 million and $3.5 million at December 31, 2016 and 2015, respectively. Upon default of an individual loan, our charge-off The majority of TDRs are the result of interest rate concessions for a limited period of time. Following is a summary of loans, by class, that have been restructured: Year Ended December 31 2016 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 4 $ 778 $ 737 3 $ 1,165 $ 960 Commercial and industrial 3 1,727 1,504 1 5 4 Total commercial loans 7 2,505 2,241 4 1,170 964 Direct installment 527 6,090 5,566 489 6,712 6,314 Residential mortgages 45 2,155 2,081 45 1,667 1,660 Indirect installment 19 51 51 17 55 48 Consumer lines of credit 81 1,419 1,283 58 950 832 Total 679 $ 12,220 $ 11,222 613 $ 10,554 $ 9,818 Following is a summary of originated TDRs, by class, for which there was a payment default, excluding loans that were either charged-off Year Ended December 31 2016 2015 (dollars in thousands) Number Contracts Recorded Investment Number Contracts Recorded Investment Commercial real estate — $ — 1 $ 26 Commercial and industrial — — — — Total commercial loans — — 1 26 Direct installment 90 313 97 510 Residential mortgages 7 285 7 306 Indirect installment 18 35 9 14 Consumer lines of credit 3 394 — — Total 118 $ 1,027 114 $ 856 |
Allowance for Credit Losses
Allowance for Credit Losses | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Allowance for Credit Losses | 7. 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 Year Charge- Recoveries Net Provision Balance at End of Year Ended December 31, 2016 Commercial real estate $ 41,741 $ (6,657 ) $ 3,669 $ (2,988 ) $ 7,882 $ 46,635 Commercial and industrial 41,023 (19,584 ) 2,508 (17,076 ) 24,044 47,991 Commercial leases 2,541 (962 ) 66 (896 ) 1,635 3,280 Commercial loans and leases 85,305 (27,203 ) 6,243 (20,960 ) 33,561 97,906 Direct installment 21,587 (10,153 ) 1,822 (8,331 ) 8,135 21,391 Residential mortgages 7,909 (441 ) 74 (367 ) 2,540 10,082 Indirect installment 9,889 (7,855 ) 2,015 (5,840 ) 6,515 10,564 Consumer lines of credit 9,582 (2,085 ) 265 (1,820 ) 1,694 9,456 Other 1,013 (2,729 ) 131 (2,598 ) 2,977 1,392 Total allowance on originated loans 135,285 (50,466 ) 10,550 (39,916 ) 55,422 150,791 Purchased credit-impaired loans 834 (399 ) 42 (357 ) 95 572 Other acquired loans 5,893 (649 ) 1,217 568 235 6,696 Total allowance on acquired loans 6,727 (1,048 ) 1,259 211 330 7,268 Total allowance $ 142,012 $ (51,514 ) $ 11,809 $ (39,705 ) $ 55,752 $ 158,059 Year Ended December 31, 2015 Commercial real estate $ 37,588 $ (4,443 ) $ 1,117 $ (3,326 ) $ 7,479 $ 41,741 Commercial and industrial 32,645 (3,562 ) 1,773 (1,789 ) 10,167 41,023 Commercial leases 2,398 (544 ) 101 (443 ) 586 2,541 Commercial loans and leases 72,631 (8,549 ) 2,991 (5,558 ) 18,232 85,305 Direct installment 20,538 (10,844 ) 1,527 (9,317 ) 10,366 21,587 Residential mortgages 8,024 (1,010 ) 85 (925 ) 810 7,909 Indirect installment 7,504 (6,427 ) 1,190 (5,237 ) 7,622 9,889 Consumer lines of credit 8,496 (1,653 ) 175 (1,478 ) 2,564 9,582 Other 759 (1,691 ) 55 (1,636 ) 1,890 1,013 Total allowance on originated loans 117,952 (30,174 ) 6,023 (24,151 ) 41,484 135,285 Purchased credit-impaired loans 660 (64 ) 19 (45 ) 219 834 Other acquired loans 7,314 (830 ) 671 (159 ) (1,262 ) 5,893 Total allowance on acquired loans 7,974 (894 ) 690 (204 ) (1,043 ) 6,727 Total allowance $ 125,926 $ (31,068 ) $ 6,713 $ (24,355 ) $ 40,441 $ 142,012 Year Ended December 31, 2014 Commercial real estate $ 32,548 $ (6,568 ) $ 2,351 $ (4,217 ) $ 9,257 $ 37,588 Commercial and industrial 32,603 (3,454 ) 1,412 (2,042 ) 2,084 32,645 Commercial leases 1,903 (415 ) 105 (310 ) 805 2,398 Commercial loans and leases 67,054 (10,437 ) 3,868 (6,569 ) 12,146 72,631 Direct installment 17,824 (9,600 ) 1,163 (8,437 ) 11,151 20,538 Residential mortgages 5,836 (760 ) 74 (686 ) 2,874 8,024 Indirect installment 6,409 (3,627 ) 875 (2,752 ) 3,847 7,504 Consumer lines of credit 7,231 (1,495 ) 218 (1,277 ) 2,542 8,496 Other 530 (1,329 ) 24 (1,305 ) 1,534 759 Total allowance on originated loans 104,884 (27,248 ) 6,222 (21,026 ) 34,094 117,952 Purchased credit-impaired loans 1,000 (2,614 ) 1 (2,613 ) 2,273 660 Other acquired loans 4,900 (873 ) 1,006 133 2,281 7,314 Total allowance on acquired loans 5,900 (3,487 ) 1,007 (2,480 ) 4,554 7,974 Total allowance $ 110,784 $ (30,735 ) $ 7,229 $ (23,506 ) $ 38,648 $ 125,926 Following is a summary of the individual and collective originated allowance for credit losses and corresponding originated loan and lease balances by class: Allowance Loans and Leases Outstanding (in thousands) Individually Evaluated for Impairment Collectively Evaluated for Impairment Originated Individually Evaluated for Impairment Collectively Evaluated Impairment December 31, 2016 Commercial real estate $ 13 $ 46,622 $ 4,095,817 $ 12,973 $ 4,082,844 Commercial and industrial 3,190 44,801 2,711,886 21,746 2,690,140 Commercial leases — 3,280 196,636 — 196,636 Total commercial loans and leases 3,203 94,703 7,004,339 34,719 6,969,620 Direct installment — 21,391 1,765,257 — 1,765,257 Residential mortgages — 10,082 1,446,776 — 1,446,776 Indirect installment — 10,564 1,196,110 — 1,196,110 Consumer lines of credit — 9,456 1,099,627 — 1,099,627 Other — 1,392 35,878 — 35,878 Total $ 3,203 $ 147,588 $ 12,547,987 $ 34,719 $ 12,513,268 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 The above table excludes acquired loans that were pooled into groups of loans for evaluating impairment. |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | 8. PREMISES AND EQUIPMENT Following is a summary of premises and equipment: December 31 2016 2015 (in thousands) Land $ 45,640 $ 33,023 Premises 186,784 143,757 Equipment 174,325 130,066 406,749 306,846 Accumulated depreciation (162,793 ) (147,766 ) Total premises and equipment, net $ 243,956 $ 159,080 Depreciation expense for premises and equipment is presented in the following table: December 31 2016 2015 2014 (in thousands) Depreciation expense for premises and equipment $ 23,355 $ 20,009 $ 18,671 We have operating leases extending to 2046 for certain land, office locations and equipment, many of which have renewal options. Leases that expire are generally expected to be replaced by other leases. Lease costs are expensed in accordance with ASC 840, Leases December 31 2016 2015 2014 (in thousands) Rental expense $ 21,015 $ 16,193 $ 14,564 Following is a summary of future minimum lease payments for years following December 31, 2016: (in thousands) 2017 $ 20,141 2018 17,927 2019 15,490 2020 12,979 2021 10,912 Later years 55,128 Total minimum rental commitment under leases $ 132,577 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | 9. GOODWILL AND OTHER INTANGIBLE ASSETS The following table shows a rollforward of goodwill by line of business: (in thousands) Community Wealth Manage- Insurance Consumer Finance Total Balance at January 1, 2015 $ 813,434 $ 8,020 $ 8,950 $ 1,809 $ 832,213 Goodwill (deductions) additions (1,035 ) — 1,908 — 873 Balance at December 31, 2015 812,399 8,020 10,858 1,809 833,086 Goodwill (deductions) additions 199,200 — (157 ) — 199,043 Balance at December 31, 2016 $ 1,011,599 $ 8,020 $ 10,701 $ 1,809 $ 1,032,129 We recorded goodwill during 2015 and 2016 as a result of the purchase accounting adjustments relating to the various acquisitions described in Note 3, “Mergers and Acquisitions.” The following table shows a summary of core deposit intangibles, customer renewal lists and mortgage servicing rights: (in thousands) Core Customer Mortgage Servicing Rights Total Finite- December 31, 2016 Gross carrying amount $ 139,886 $ 12,352 $ 19,914 $ 172,152 Accumulated amortization (89,888 ) (8,544 ) (6,393 ) (104,825 ) Net carrying amount $ 49,998 $ 3,808 $ 13,521 $ 67,327 December 31, 2015 Gross carrying amount $ 111,594 $ 12,351 $ 12,766 $ 136,711 Accumulated amortization (79,362 ) (7,860 ) (3,845 ) (91,067 ) Net carrying amount $ 32,232 $ 4,491 $ 8,921 $ 45,644 Core deposit intangibles are being amortized primarily over 10 years using accelerated methods. Customer renewal lists and mortgage servicing rights are being amortized over their estimated useful lives, which range from eight to thirteen years. The amortization relating to mortgage servicing rights is included in mortgage banking operations within the non-interest non-interest December 31 2016 2015 2014 (in thousands) Amortization expense of other core deposit intangibles and customer renewal lists $ 11,210 $ 8,305 $ 9,717 Amortization expense of mortgage servicing rights 2,548 2,250 2,593 Total amortization of intangibles $ 13,758 $ 10,555 $ 12,310 Following is a summary of the expected amortization expense on finite-lived intangible assets, assuming no new additions, for each of the five years following December 31, 2016: (in thousands) 2017 $ 12,362 2018 9,864 2019 8,608 2020 7,894 2021 7,032 Total $ 45,760 Goodwill and other intangible assets are tested annually for impairment, and more frequently if events or changes in circumstances indicate the carrying value may not be recoverable. We completed this test in 2016 and 2015 and determined that our intangible assets are not impaired. |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Deposits | 10. DEPOSITS Following is a summary of deposits: December 31 2016 2015 (in thousands) Non-interest-bearing $ 4,205,337 $ 3,059,949 Interest-bearing demand 6,931,381 5,311,589 Savings 2,352,434 1,786,459 Certificates and other time deposits: Less than $100,000 1,680,068 1,390,619 $100,000 through $250,000 642,509 861,042 Greater than $250,000 253,918 213,805 Total deposits $ 16,065,647 $ 12,623,463 Following is a summary of time deposits of $100,000 or more by remaining maturity at December 31, 2016: (in thousands) Certificates Other Total Three months or less $ 94,704 $ 9,006 $ 103,710 Three to six months 98,110 8,265 106,375 Six to twelve months 157,512 16,879 174,391 Over twelve months 394,627 117,324 511,951 Total $ 744,953 $ 151,474 $ 896,427 Following is a summary of the scheduled maturities of certificates and other time deposits for the years following December 31, 2016: (in thousands) 2017 $ 1,299,330 2018 473,266 2019 290,092 2020 246,590 2021 132,960 Later years 134,257 Total $ 2,576,495 |
Short-Term Borrowings
Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | 11. SHORT-TERM BORROWINGS Following is a summary of short-term borrowings: December 31 2016 2015 (in thousands) Securities sold under repurchase agreements $ 313,062 $ 266,732 Federal Home Loan Bank advances 1,025,000 1,090,000 Federal funds purchased 1,037,000 568,000 Subordinated notes 127,948 124,164 Total short-term borrowings $ 2,503,010 $ 2,048,896 Borrowings with original maturities of one year or less are classified as short-term. Securities sold under repurchase agreements are 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. The following represents weighted average interest rates on short-term borrowings: December 31 2016 2015 2014 Year-to-date 0.61 % 0.42 % 0.39 % Period-end 0.69 % 0.48 % 0.37 % |
Long-Term Borrowings
Long-Term Borrowings | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Long-Term Borrowings | 12. LONG-TERM BORROWINGS Following is a summary of long-term borrowings: December 31 2016 2015 (in thousands) Federal Home Loan Bank advances $ 305,110 $ 400,017 Subordinated notes 87,147 84,668 Junior subordinated debt 48,600 58,298 Other subordinated debt 98,637 98,497 Total long-term borrowings $ 539,494 $ 641,480 Scheduled annual maturities for the long-term borrowings for the years following December 31, 2016 are as follows: (in thousands) 2017 $ 179,147 2018 61,800 2019 43,557 2020 49,339 2021 47,665 Later years 157,986 Total $ 539,494 Federal Home Loan Bank advances Our banking affiliate has available credit with the FHLB of $5.8 billion of which $1.3 billion was used as of December 31, 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 year ended December 31, 2016 and 0.76% to 4.19% for the year ended December 31, 2015. Subordinated notes Subordinated notes are unsecured and subordinated to our other indebtedness. The subordinated notes mature in various amounts periodically through the year 2026. At December 31, 2016, all of the subordinated notes are redeemable by the holders prior to maturity at a discount equal to three to twelve months of interest, depending on the term of the note. We may require the holder to give 30 days prior written notice. No sinking fund is required and none has been established to retire the notes. The weighted average interest rate on the subordinated notes are presented in the following table: December 31 2016 2015 2014 Subordinated notes weighted average interest rate 2.71 % 2.73 % 2.70 % Junior subordinated debt Junior subordinated debt is comprised of the debt securities issued by FNB in relation to our two unconsolidated subsidiary trusts (collectively, the Trusts), F.N.B. Statutory Trust II and Omega Financial Capital Trust I, which are unconsolidated variable interest entities. One hundred percent of the common equity of each Trust is owned by FNB. The Trusts were formed for the purpose of issuing FNB-obligated We record the distributions on the junior subordinated debt issued to the Trusts as interest expense. 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 our discretion. Under capital guidelines, effective January 1, 2016, the junior subordinated debt, net of our investments in the Trusts, is included in tier 2 capital. We have entered into agreements which, when taken collectively, fully and unconditionally guarantee the obligations under the TPS subject to the terms of each of the guarantees. The following table provides information relating to the Trusts as of December 31, 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 2.61 % Variable; LIBOR + 165 basis points (bps) Omega Financial Capital Trust I 26,000 1,114 26,435 10/18/34 3.07 % Variable; LIBOR + 219 bps Total $ 47,500 $ 1,779 $ 48,600 Other subordinated debt Other subordinated debt is comprised of the $100.0 million aggregate principal amount of 4.875% subordinated notes due in 2025 issued by us in our October 2015 debt offering. The net proceeds of the debt offering after deducting underwriting discounts and commissions and offering costs were $98.4 million. These subordinated notes are eligible for treatment as tier 2 capital for regulatory capital purposes. |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities | 13. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES We are exposed to certain risks arising from both our business operations and economic conditions. We principally manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage economic risks, including interest rate risk, primarily by managing the amount, source, and duration of our 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. We also use derivative instruments to facilitate transactions on behalf of our 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 we have 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 our derivative assets and derivative liabilities: December 31 2016 2015 Notional Amount Fair Value Notional Amount Fair Value (in thousands) Asset Liability Asset Liability Gross Derivatives Subject to master netting arrangements: Interest rate contracts – designated $ 450,000 $ 9,256 $ 1,171 $ 250,000 $ 3,178 $ 962 Interest rate swaps – not designated 1,689,157 12,720 34,046 1,262,964 1 50,491 Equity contracts – not designated 1,180 61 — 1,180 18 — Total subject to master netting arrangements 2,140,337 22,037 35,217 1,514,144 3,197 51,453 Not subject to master netting arrangements: Interest rate swaps – not designated 1,689,157 32,170 11,866 1,262,964 49,998 1 Credit risk contracts – not designated 174,538 13 123 114,753 7 133 Equity contracts – not designated 1,180 — 61 1,180 — 18 Total not subject to master netting arrangements 1,864,875 32,183 12,050 1,378,897 50,005 152 Total $ 4,005,212 $ 54,220 $ 47,267 $ 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: December 31 2016 2015 (in thousands) Notional amount $ 450,000 $ 250,000 Fair value included in other assets 9,256 3,178 Fair value included in other liabilities 1,171 962 The following table shows amounts reclassified from accumulated other comprehensive income (AOCI): December 31 2016 2015 (in thousands) Total Net of Total Net of Reclassified from AOCI to interest income $ 2,659 $ 1,728 $ 3,248 $ 2,111 Reclassified from AOCI to interest expense 703 457 292 189 As of December 31, 2016, the maximum length of time over which forecasted interest cash flows are hedged is seven years. In the twelve months that follow December 31, 2016, we expect 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, There were no components of derivative gains or losses excluded from the assessment of hedge effectiveness related to these cash flow hedges. For the years ended December 31, 2016 and 2015, there was no hedge ineffectiveness. Also, during the years ended December 31, 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. non-financial We enter into positions with a derivative counterparty in order to offset our exposure on the fixed components of the customer interest rate swap agreements. We seek 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: December 31 2016 2015 (in thousands) Notional amount $ 3,378,314 $ 2,525,928 Fair value included in other assets 44,890 49,999 Fair value included in other liabilities 45,912 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 $125.6 million as of December 31, 2016 have remaining terms ranging from two months to fourteen years. Under these agreements, our maximum exposure assuming a customer defaults on our obligation to perform under certain derivative swap contracts with third parties would be $0.1 million at both December 31, 2016 and 2015. The fair values of risk participation agreements purchased and sold were not material at December 31, 2016 and 2015. Counterparty Credit Risk We are party to master netting arrangements with most of our swap derivative counterparties. Collateral, usually marketable securities and/or cash, is exchanged between FNB and our counterparties, and is generally subject to thresholds and transfer minimums. For swap transactions that require central clearing, we post cash to our clearing agency. Collateral positions are valued daily, and adjustments to amounts received and pledged by us 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 we had breached our agreements with our derivative counterparties we would be required to settle our 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 December 31, 2016 and 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 Gross Net Amount December 31, 2016 Derivative Assets Subject to master netting arrangements: Interest rate contracts Designated $ 9,256 — $ 9,256 Not designated 12,720 — 12,720 Equity contracts – not designated 61 — 61 Not subject to master netting arrangements: Interest rate contracts – not designated 32,170 — 32,170 Credit contracts – not designated 13 — 13 Total derivative assets $ 54,220 — $ 54,220 Derivative Liabilities Subject to master netting arrangements: Interest rate contracts Designated $ 1,171 — $ 1,171 Not designated 34,046 — 34,046 Not subject to master netting arrangements: Interest rate contracts – not designated 11,866 — 11,866 Credit contracts – not designated 123 — 123 Equity contracts – not designated 61 — 61 Total derivative liabilities $ 47,267 — $ 47,267 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 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 December 31, 2016 Derivative Assets Interest rate contracts: Designated $ 9,256 $ 843 $ 8,413 $ — Not designated 12,720 474 12,132 114 Equity contracts – not designated 61 61 — — Total $ 22,037 $ 1,378 $ 20,545 $ 114 Derivative Liabilities Interest rate contracts: Designated $ 1,171 $ 1,171 $ — $ — Not designated 34,046 15,490 17,651 905 Total $ 35,217 $ 16,661 $ 17,651 $ 905 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 derivative financial instruments on our income statement: Income Statement Location Year Ended (in thousands) 2016 2015 Interest Rate Contracts Interest income – loans and leases $ 2,659 $ 3,248 Interest Rate Contracts Interest expense – short-term borrowings 703 292 Interest Rate Swaps Other income (529 ) (451 ) Credit Risk Contracts Other income 16 (126 ) Other We have 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 our interest rate lock commitments to customers and commitments to originate residential mortgage loans with investors at December 31, 2016 and 2015 are not material. |
Commitments, Credit Risk and Co
Commitments, Credit Risk and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Credit Risk and Contingencies | 14. COMMITMENTS, CREDIT RISK AND CONTINGENCIES We have 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. Our exposure to credit loss in the event of non-performance Following is a summary of off-balance December 31 2016 2015 (in thousands) Commitments to extend credit $ 4,424,834 $ 3,781,719 Standby letters of credit 117,732 92,979 At December 31, 2016, funding of 78.1% of the commitments to extend credit was dependent on the financial condition of the customer. We have the ability to withdraw such commitments at our 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 us that may require payment at a future date. The credit risk involved in issuing letters of credit is actively monitored through review of the historical performance of our portfolios. In addition to the above commitments, debt issued by FNB Financial Services, LP, a wholly-owned finance subsidiary, is fully and unconditionally guaranteed by FNB. Other Legal Proceedings In the ordinary course of business, we are routinely named as defendants in, or made parties to, pending and potential legal actions. Also, as regulated entities, we 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, we do 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 our financial position or liquidity, 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 adverse reputational impact, if any, associated with each such matter. In accordance with applicable accounting guidance, we establish 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. We 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, we do 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. We believe that our accruals for legal proceedings are appropriate and, in the aggregate, are not material to our consolidated financial position, although future accruals could have a material effect on net income in a given period. |
Stock Incentive Plans
Stock Incentive Plans | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Incentive Plans | 15. STOCK INCENTIVE PLANS Restricted Stock We issue restricted stock awards, consisting of both restricted stock and restricted stock units, to key employees under our Incentive Compensation Plans (Plans). Beginning in 2014, we issue 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 our common stock on the grant date. The fair value of the performance-based awards is based on a Monte-Carlo Simulation valuation of our common stock as of the grant date. We issued 277,174 and 400,436 performance-based restricted stock units in 2016 and 2015, respectively. Recipients will earn shares, totaling between 0% and 175% of the number of units issued, based on our 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 we met or exceeded certain financial performance results when compared to our 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. We also issued discretionary service-based awards to certain employees that vested over five years. The following table details our issuance of restricted stock awards and the aggregate weighted average grant date fair values under these plans for the years indicated. As of December 31, 2016, we had available up to 3,238,464 shares of common stock to issue under these Plans. (dollars in thousands) 2016 2015 2014 Restricted stock awards 574,125 664,337 387,165 Weighted average grant date fair values $ 7,383 $ 8,802 $ 5,227 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 certain information concerning restricted stock awards: 2016 Weighted Average Grant 2015 Weighted Average Grant 2014 Weighted Average Grant Unvested shares outstanding at beginning of year 1,548,444 $ 12.85 1,354,093 $ 11.86 1,729,033 $ 10.23 Granted 574,125 12.86 664,337 13.25 387,165 13.50 Net adjustment due to performance 72,070 11.79 13,115 19.74 (36,600 ) 12.01 Vested (384,704 ) 12.11 (484,010 ) 10.70 (707,074 ) 8.81 Forfeited (31,394 ) 13.02 (41,130 ) 13.24 (65,399 ) 11.72 Dividend reinvestment 57,822 13.08 42,039 11.86 46,968 12.66 Unvested shares outstanding at end of year 1,836,363 12.97 1,548,444 12.85 1,354,093 11.86 The following table provides certain information related to restricted stock awards: Year Ended December 31 2016 2015 2014 (in thousands) Stock-based compensation expense $ 7,066 $ 4,461 $ 3,584 Tax benefit associated with compensation expense 2,473 1,561 1,254 Fair value of awards vested 4,587 6,070 10,713 As of December 31, 2016, there was $9.9 million of unrecognized compensation cost related to unvested restricted stock awards granted, $0.4 million of which is subject to accelerated vesting under the plan’s immediate vesting upon retirement provision for awards granted prior to the adoption of ASC 718. The components of the restricted stock awards as of December 31, 2016 are as follows: (dollars in thousands) Service- Awards Performance- Based Awards Total Unvested restricted stock awards 839,106 997,257 1,836,363 Unrecognized compensation expense $ 4,620 $ 5,279 $ 9,899 Intrinsic value $ 13,451 $ 15,986 $ 29,437 Weighted average remaining life (in years) 1.87 1.97 1.92 Stock Options All outstanding stock options were assumed from acquisitions and are fully vested. Upon consummation of our acquisitions, all outstanding stock options issued by the acquired companies were converted into equivalent FNB stock options. We issue shares of treasury stock or authorized but unissued shares to satisfy stock options exercised. The following table summarizes the activity related to stock options during the periods indicated: 2016 Weighted Average Price per Share 2015 Weighted Average Price per Share 2014 Weighted Average Price per Share Options outstanding at beginning of year 435,340 $ 8.86 568,834 $ 8.86 533,524 $ 11.50 Assumed from acquisitions 1,707,036 7.83 — — 805,507 7.39 Exercised (1,128,075 ) 7.18 (93,822 ) 5.94 (690,973 ) 7.75 Forfeited (121,769 ) 9.33 (39,672 ) 15.66 (79,224 ) 21.40 Options outstanding and exercisable at end of year 892,532 8.95 435,340 8.86 568,834 8.86 The following table summarizes information about stock options outstanding at December 31, 2016: Range of Exercise Options and Exercisable Weighted Average Weighted Average $3.45 - $5.18 195,134 3.29 $ 4.88 $5.19 - $7.78 140,179 3.65 6.82 $7.79 - $11.68 337,780 4.91 10.06 $11.69 - $13.54 219,439 0.73 12.23 892,532 The intrinsic value of outstanding and exercisable stock options at December 31, 2016 was $6.2 million . The following table summarizes certain information relating to stock options exercised: Year Ended December 31 2016 2015 2014 (in thousands) Proceeds from stock options exercised $ 7,816 $ 557 $ 3,292 Tax benefit recognized from stock options exercised 1,862 130 808 Intrinsic value of stock options exercised 6,577 693 3,289 Warrants In conjunction with our participation in the UST’s Capital Purchase Program (CPP), we issued to the UST a warrant to purchase up to 1,302,083 shares of our 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 has been reduced in half to 651,042 shares as of June 16, 2009, the date we 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 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 our common stock at an exercise price of $3.57 per share. Subsequent adjustments related to actual dividends paid by us have increased the share amount of these warrants to 389,724, with a resulting lower exercise price of $3.14 per share as of December 31, 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 | 12 Months Ended |
Dec. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Retirement Plans | 16. RETIREMENT PLANS We sponsor 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. Our 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. We also sponsor two supplemental non-qualified The following tables provide information relating to the accumulated benefit obligation, change in benefit obligation, change in plan assets, the plans’ funded status and the amount included in the consolidated balance sheets for the qualified and non-qualified December 31 2016 2015 (in thousands) Accumulated benefit obligation $ 152,586 $ 150,754 Projected benefit obligation at beginning of year $ 151,015 $ 156,924 Service cost (15 ) (14 ) Interest cost 6,129 5,897 Actuarial loss (gain) 3,723 (3,381 ) Benefits paid (7,936 ) (8,411 ) Projected benefit obligation at end of year $ 152,916 $ 151,015 Fair value of plan assets at beginning of year $ 132,762 $ 140,140 Actual return on plan assets 10,787 (331 ) Corporation contribution 1,345 1,364 Benefits paid (7,936 ) (8,411 ) Fair value of plan assets at end of year $ 136,958 $ 132,762 Funded status of plans $ (15,958 ) $ (18,253 ) The unrecognized actuarial loss, prior service cost and net transition obligation are required to be recognized into earnings over the average remaining participant life due to the freezing of the RIP, which may, on a net basis reduce future earnings. Actuarial assumptions used in the determination of the projected benefit obligation in the Plans are as follows: Assumptions at December 31 2016 2015 Weighted average discount rate 3.96 % 4.19 % Rates of average increase in compensation levels 3.50 % 3.50 % The discount rate assumption at December 31, 2016 and 2015 was determined using a yield-curve based approach. A yield curve was produced for a universe containing the majority of U.S.-issued Aa-graded non-callable The net periodic pension cost and other comprehensive income for the Plans included the following components: Year Ended December 31 2016 2015 2014 (in thousands) Service cost $ (15 ) $ (14 ) $ 62 Interest cost 6,129 5,897 6,411 Expected return on plan assets (9,413 ) (9,964 ) (9,946 ) Transition amount amortization — — (21 ) Prior service credit amortization 7 7 7 Actuarial loss amortization 2,383 2,112 1,367 Net periodic pension income (909 ) (1,962 ) (2,120 ) Other changes in plan assets and benefit obligations recognized in other comprehensive income: Current year actuarial loss (gain) 2,349 6,914 21,586 Amortization of actuarial loss (2,383 ) (2,112 ) (1,367 ) Amortization of prior service credit (7 ) (7 ) (7 ) Amortization of transition asset — — 21 Total amount recognized in other comprehensive income (41 ) 4,795 20,233 Total amount recognized in net periodic benefit cost and other comprehensive income $ (950 ) $ 2,833 $ 18,113 The plans have an actuarial measurement date of December 31. Actuarial assumptions used in the determination of the net periodic pension cost in the Plans are as follows: Assumptions for the Year Ended December 31 2016 2015 2014 Weighted average discount rate 4.19 % 3.85 % 4.67 % Rates of increase in compensation levels 3.50 % 3.50 % 4.00 % Expected long-term rate of return on assets 7.25 % 7.25 % 7.25 % The expected long-term rate of return on plan assets has been established by considering historical and anticipated expected returns on the asset classes invested in by the pension trust and the allocation strategy currently in place among those classes. The change in plan assets reflects benefits paid from the qualified pension plans of $6.6 million and $7.0 million for 2016 and 2015, respectively. The employer did not make any contributions to the qualified pension plans during 2016 or 2015. For the non-qualified As of December 31, 2016 and 2015, the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the qualified and non-qualified (in thousands) Qualified Pension Plans Non-Qualified Pension Plans December 31 2016 2015 2016 2015 Projected benefit obligation $ 132,902 $ 130,797 $ 20,014 $ 20,218 Accumulated benefit obligation 132,902 130,797 19,684 19,957 Fair value of plan assets 136,958 132,762 — — The impact of changes in the discount rate and expected long-term rate of return on plan assets would have had the following effects on 2016 pension expense: (in thousands) Estimated 0.5% decrease in the discount rate $ (24 ) 0.5% decrease in the expected long-term rate of return on plan assets 649 The following table provides information regarding estimated future cash flows relating to the Plans at December 31, 2016 (in thousands): Expected employer contributions: 2017 $ 1,356 Expected benefit payments: 2017 7,631 2018 8,305 2019 8,532 2020 8,739 2021 9,011 2022 – 2026 46,689 The qualified pension plan contributions are deposited into a trust and the qualified benefit payments are made from trust assets. For the non-qualified Our 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, we match 100% of the first six percent that the employee defers. Additionally, we may provide a performance-based company contribution of up to three percent if we exceed annual financial goals. Our contribution expense is presented in the following table: Year Ended December 31 2016 2015 2014 (in thousands) 401(k) contribution expense $ 9,069 $ 8,055 $ 10,188 We also sponsor 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. Pension Plan Investment Policy and Strategy Our investment strategy for the RIP is to diversify plan assets between a wide mix of equity and debt securities in an effort to allow the plan the opportunity to meet the plan’s expected long-term rate of return requirements while minimizing short-term volatility. In this regard, the plan has targeted allocations within the equity securities category for domestic large cap, domestic mid cap, domestic small cap, real estate investment trusts, emerging market and international securities. Within the debt securities category, the plan has targeted allocation levels for U.S. Treasury, U.S. agency, domestic investment-grade bonds, high-yield bonds, inflation-protected securities and international bonds. The following table presents asset allocations for our pension plans as of December 31, 2016 and 2015, and the target allocation for 2017, by asset category: Target Percentage of Plan Assets December 31 2017 2016 2015 Asset Category Equity securities 45 - 65 % 61 % 57 % Debt securities 30 - 50 35 39 Cash equivalents 0 - 10 4 4 At December 31, 2016 and 2015, equity securities included 575,128 shares of our common stock, representing 6.7% and 5.8% of total plan assets at December 31, 2016 and 2015, respectively. Dividends received on our common stock held by the Plan were $276,000 for both 2016 and 2015. The fair values of our pension plan assets by asset category are as follows: (in thousands) Level 1 Level 2 Level 3 Total December 31, 2016 Asset Class Cash $ 5,125 $ — — $ 5,125 Equity securities: F.N.B. Corporation 9,219 — — 9,219 Other large-cap 2,999 — — 2,999 Other large-cap 36,570 — — 36,570 International companies 718 — — 718 Other equity 596 — — 596 Mutual fund equity investments: U.S. equity index funds: U.S. large-cap 559 — — 559 U.S. small-cap 3,035 — — 3,035 U.S. mid-cap 3,795 — — 3,795 Non-U.S. 9,555 — — 9,555 U.S. equity funds: U.S. mid-cap 7,615 — — 7,615 U.S. small-cap 3,173 — — 3,173 Other 5,928 — — 5,928 Fixed income securities: U.S. government agencies — 36,891 — 36,891 Fixed income mutual funds: U.S. investment-grade fixed income securities 10,766 — — 10,766 Non-U.S. 414 — — 414 Total $ 100,067 $ 36,891 — $ 136,958 December 31, 2015 Asset Class Cash $ 4,847 $ — — $ 4,847 Equity securities: F.N.B. Corporation 7,672 — — 7,672 Other large-cap 2,541 — — 2,541 Other large-cap 33,387 — — 33,387 International companies 521 — — 521 Other equity 596 — — 596 Mutual fund equity investments: U.S. equity index funds: U.S. large-cap 511 — — 511 U.S. small-cap 2,607 — — 2,607 U.S. mid-cap 3,464 — — 3,464 Non-U.S. 9,613 — — 9,613 U.S. equity funds: U.S. mid-cap 6,989 — — 6,989 U.S. small-cap 2,679 — — 2,679 Other 5,540 — — 5,540 Fixed income securities: U.S. government agencies — 40,735 — 40,735 Fixed income mutual funds: U.S. investment-grade fixed income securities 10,648 — — 10,648 Non-U.S. 412 — — 412 Total $ 92,027 $ 40,735 — $ 132,762 The classifications for Level 1, Level 2 and Level 3 are discussed in Note 23, “Fair Value Measurements.” |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 17. INCOME TAXES Income tax expense, allocated based on a separate tax return basis, consists of the following: Year Ended December 31 2016 2015 2014 (in thousands) Current income taxes: Federal taxes $ 57,894 $ 69,572 $ 18,111 State taxes 2,329 989 396 Total current income taxes 60,223 70,561 18,507 Deferred income taxes: Federal taxes 14,983 63 44,113 State taxes 291 (631 ) — Total deferred income taxes 15,274 (568 ) 44,113 Total income taxes $ 75,497 $ 69,993 $ 62,620 Income tax expense related to gains on the sale of securities is presented in the following table: Year Ended December 31 2016 2015 2014 (in thousands) Income tax expense related to gains on sale of securities $ 249 $ 288 $ 4,101 The following table presents the tax effects of temporary differences that give rise to deferred tax assets and liabilities: December 31 2016 2015 (in thousands) Deferred tax assets: Allowance for credit losses $ 56,090 $ 50,414 Discount on acquired loans 48,978 28,503 Net operating loss/tax credit carryforwards 17,753 16,487 Deferred compensation 12,236 8,515 Securities impairments — 252 Pension and other defined benefit plans 7,713 8,539 Net unrealized securities losses 6,972 1,301 Other 11,264 8,020 Total 161,006 122,031 Valuation allowance (18,945 ) (17,179 ) Total deferred tax assets 142,061 104,852 Deferred tax liabilities: Loan costs (2,222 ) (2,966 ) Depreciation (12,392 ) (10,836 ) Prepaid expenses (682 ) (628 ) Amortizable intangibles (18,506 ) (12,940 ) Lease financing (5,538 ) (6,763 ) Debt discharge income deferral (1,361 ) (2,042 ) Originated mortgage servicing rights (748 ) (1,238 ) Fair value adjustments on securities (86 ) — Other (1,253 ) (1,928 ) Total deferred tax liabilities (42,788 ) (39,341 ) Net deferred tax assets $ 99,273 $ 65,511 We establish a valuation allowance when it is more likely than not that we will not be able to realize the benefit of the deferred tax assets or when future deductibility is uncertain. Periodically, the valuation allowance is reviewed and adjusted based on management’s assessment of realizable deferred tax assets. At December 31, 2015, we reversed $1.9 million of the valuation allowance recorded against state deferred taxes due to expansion of operations in the state of Maryland as a result of recent mergers. The remaining balance of the valuation allowance primarily relates to unused state net operating loss carryforwards expiring from 2018 to 2036 and other net deferred tax assets. We anticipate that neither the state net operating loss carryforwards nor the other net deferred tax assets at certain of our subsidiaries will be utilized and, as such, have recorded a valuation allowance against the deferred tax assets related to these carryforwards. The effective tax rates for 2016, 2015 and 2014 were all lower than the statutory tax rate due to tax benefits resulting from tax-exempt The following table provides a reconciliation between the statutory tax rate and the actual effective tax rate: Year Ended December 31 2016 2015 2014 Statutory tax rate 35.0 % 35.0 % 35.0 % State taxes, net of federal benefit 0.7 0.8 0.1 Valuation allowance reversal — (0.8 ) — Tax-exempt (2.9 ) (2.2 ) (1.8 ) Cash surrender value of life insurance (1.5 ) (1.3 ) (1.3 ) Tax credits (0.9 ) (1.1 ) (1.4 ) Other items 0.2 0.1 (0.3 ) Actual effective tax rate 30.6 % 30.5 % 30.3 % Unrecognized Tax Benefits A reconciliation of the beginning and ending amount of unrecognized tax benefits (excluding interest and the federal income tax benefit of unrecognized state tax benefits) is as follows: Year Ended December 31 2016 2015 (in thousands) Balance at beginning of year $ 455 $ 401 Additions based on tax positions related to current year 163 134 Additions based on tax positions of prior year — — Reductions for tax positions of prior years — — Reductions due to expiration of statute of limitations (76 ) (80 ) Balance at end of year $ 542 $ 455 As of December 31, 2016 and 2015, we have approximately $0.5 million of unrecognized tax benefits, excluding interest and the federal tax benefit of unrecognized state tax benefits. Also, as of December 31, 2016 and 2015, additional unrecognized tax benefits relating to accrued interest, net of the related federal tax benefit, amounted to $19,000 and $18,000 respectively. As of December 31, 2016, $0.4 million of these tax benefits would affect the effective tax rate if recognized. We recognize potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. To the extent interest is not assessed with respect to uncertain tax positions, amounts accrued will be reduced and reflected as a reduction of the overall income tax provision. We file numerous income tax returns in the U.S. federal jurisdiction and in several state jurisdictions. We are no longer subject to U.S. federal income tax examinations for years prior to 2013. With limited exception, we are no longer subject to state income tax examinations for years prior to 2013. We anticipate that a reduction in the unrecognized tax benefit of up to $56,000 may occur in the next twelve months from the expiration of statutes of limitations which would result in a reduction in income taxes. |
Other Comprehensive Income
Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Other Comprehensive Income | 18. OTHER 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 Gains on Derivative Instruments Unrecognized Postretirement Obligations Total Year Ended December 31, 2016 Balance at beginning of period $ (3,873 ) $ 1,440 $ (48,700 ) $ (51,133 ) Other comprehensive income (loss) before reclassifications (13,886 ) 5,086 299 (8,501 ) Amounts reclassified from AOCI (463 ) (1,272 ) — (1,735 ) Net current period other comprehensive income (loss) (14,349 ) 3,814 299 (10,236 ) Balance at end of period $ (18,222 ) $ 5,254 $ (48,401 ) $ (61,369 ) The amounts reclassified from AOCI related to securities available for sale are included in net securities gains on the consolidated income statements, while the amounts reclassified from AOCI related to derivative instruments are included in interest income on loans and leases on the consolidated income statements. 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 income statements. |
Earnings per Common Share
Earnings per Common Share | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share | 19. EARNINGS PER COMMON SHARE The following table sets forth the computation of basic and diluted earnings per common share: Year Ended December 31 2016 2015 2014 (dollars in thousands, except per share data) Net income $ 170,891 $ 159,649 $ 144,050 Less: Preferred stock dividends 8,041 8,041 8,352 Net income available to common stockholders $ 162,850 $ 151,608 $ 135,698 Basic weighted average common shares outstanding 206,244,498 174,971,785 167,347,906 Net effect of dilutive stock options, warrants and restricted stock 1,524,111 1,367,168 1,730,939 Diluted weighted average common shares outstanding 207,768,609 176,338,953 169,078,845 Earnings per common share: Basic $ 0.79 $ 0.87 $ 0.81 Diluted $ 0.78 $ 0.86 $ 0.80 The following table shows the average shares excluded from the above calculation as their effect would have been anti-dilutive: Year Ended December 31 2016 2015 2014 Average shares excluded from the diluted earnings per common share calculation 9,980 18,167 35,442 |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | 20. REGULATORY MATTERS FNB and FNBPA are subject to various regulatory capital requirements administered by the federal banking agencies. Quantitative measures established by regulators to ensure capital adequacy require FNB and FNBPA to maintain minimum amounts and ratios of total, tier 1 and common equity tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of leverage ratio (as defined). Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on our consolidated financial statements, dividends and future merger and acquisition activity. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, FNB and FNBPA must meet specific capital guidelines that involve quantitative measures of assets, liabilities and certain off-balance As of December 31, 2016, the most recent notification from the federal banking agencies categorized FNB and FNBPA as “well-capitalized” under the regulatory framework for prompt corrective action. There are no conditions or events since the notification which management believes have changed this categorization. Following are the capital ratios for FNB and FNBPA: Actual Well-Capitalized Requirements Minimum Capital Requirements (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2016 F.N.B. Corporation: Total capital $ 1,917,386 12.0 % $ 1,597,951 10.0 % $ 1,378,232 8.6 % Tier 1 capital 1,582,251 9.9 1,278,360 8.0 1,058,642 6.6 Common equity tier 1 1,475,369 9.2 1,038,668 6.5 818,950 5.1 Leverage 1,582,251 7.7 1,027,831 5.0 822,265 4.0 FNBPA: Total capital 1,768,561 11.1 1,588,989 10.0 1,370,503 8.6 Tier 1 capital 1,614,167 10.2 1,271,191 8.0 1,052,705 6.6 Common equity tier 1 1,534,167 9.7 1,032,843 6.5 814,357 5.1 Leverage 1,614,167 7.9 1,019,034 5.0 815,227 4.0 As of December 31, 2015 F.N.B. Corporation: Total capital $ 1,629,270 12.8 % $ 1,275,939 10.0 % $ 1,020,751 8.0 % Tier 1 capital 1,321,972 10.4 1,020,751 8.0 765,563 6.0 Common equity tier 1 1,200,715 9.4 829,360 6.5 574,172 4.5 Leverage 1,321,972 8.1 811,553 5.0 649,243 4.0 FNBPA: Total capital 1,426,284 11.3 1,265,990 10.0 1,012,792 8.0 Tier 1 capital 1,289,965 10.2 1,012,792 8.0 759,594 6.0 Common equity tier 1 1,209,965 9.6 822,893 6.5 569,695 4.5 Leverage 1,289,965 8.0 803,041 5.0 642,433 4.0 Beginning in 2016, the minimum capital requirements reflect the phase-in FNBPA was required to maintain aggregate cash reserves with the FRB amounting to $17.0 million at December 31, 2016. We also maintain deposits for various services such as check clearing. Certain limitations exist under applicable law and regulations by regulatory agencies regarding dividend distributions to a parent by our subsidiaries. As of December 31, 2016, our subsidiaries had $202.9 million of retained earnings available for distribution to us without prior regulatory approval. Under current FRB regulations, FNBPA is limited in the amount it may lend to non-bank non-bank |
Cash Flow Information
Cash Flow Information | 12 Months Ended |
Dec. 31, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
Cash Flow Information | 21. CASH FLOW INFORMATION Following is a summary of cash flow information: Year Ended December 31 2016 2015 2014 (in thousands) Interest paid on deposits and other borrowings $ 67,296 $ 47,805 $ 43,057 Income taxes paid 60,000 61,500 27,000 Transfers of loans to other real estate owned 14,592 9,628 16,535 Transfers of other real estate owned to loans 441 372 390 Supplemental non-cash |
Business Segments
Business Segments | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Business Segments | 22. BUSINESS SEGMENTS We operate 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, asset based lending, 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 us. The following tables provide financial information for these segments of FNB. The information provided under the caption “Parent and Other” represents operations not considered to be reportable segments and/or general operating expenses of FNB, and includes the parent company, other non-bank (in thousands) Community Wealth Manage- ment Insurance Consumer Parent and Consolidated At or for the Year Ended December 31, 2016 Interest income $ 629,700 $ — $ 84 $ 40,922 $ 8,257 $ 678,963 Interest expense 56,182 — — 3,759 7,510 67,451 Net interest income 573,518 — 84 37,163 747 611,512 Provision for credit losses 47,386 — — 6,706 1,660 55,752 Non-interest 151,149 35,283 14,750 3,002 (2,423 ) 201,761 Non-interest 435,089 27,201 12,965 21,662 3,006 499,923 Amortization of intangibles 10,526 259 425 — — 11,210 Income taxes (benefit) 70,756 2,845 532 4,488 (3,124 ) 75,497 Net income (loss) 160,910 4,978 912 7,309 (3,218 ) 170,891 Total assets 21,659,634 19,619 22,053 193,349 (49,838 ) 21,844,817 Total intangibles 1,075,118 10,189 12,340 1,809 — 1,099,456 At or for the Year Ended December 31, 2015 Interest income $ 500,030 $ — $ 89 $ 39,868 $ 6,808 $ 546,795 Interest expense 41,227 — — 3,518 3,828 48,573 Net interest income 458,803 — 89 36,350 2,980 498,222 Provision for credit losses 32,125 — — 7,396 920 40,441 Non-interest 116,141 35,246 13,052 2,926 (4,955 ) 162,410 Non-interest 319,923 27,264 13,891 20,189 977 382,244 Amortization of intangibles 7,544 273 488 — — 8,305 Income taxes (benefit) 65,071 2,803 (412 ) 4,709 (2,178 ) 69,993 Net income (loss) 150,281 4,906 (826 ) 6,982 (1,694 ) 159,649 Total assets 17,374,384 20,753 22,207 195,048 (54,730 ) 17,557,662 Total intangibles 853,551 10,447 12,923 1,809 — 878,730 At or for the Year Ended December 31, 2014 Interest income $ 463,376 $ — $ 98 $ 38,914 $ 6,595 $ 508,983 Interest expense 36,318 — — 3,352 3,016 42,686 Net interest income 427,058 — 98 35,562 3,579 466,297 Provision for credit losses 30,872 — — 6,920 856 38,648 Non-interest 115,858 31,497 13,598 2,919 (5,598 ) 158,274 Non-interest 311,834 25,338 11,558 19,692 1,114 369,536 Amortization of intangibles 9,025 288 404 — — 9,717 Income taxes (benefit) 57,634 2,135 625 4,430 (2,204 ) 62,620 Net income (loss) 133,551 3,736 1,109 7,439 (1,785 ) 144,050 Total assets 15,944,040 20,877 19,222 187,796 (44,845 ) 16,127,090 Total intangibles 857,066 10,720 10,122 1,809 — 879,717 (1) Excludes amortization of intangibles, which is presented separately. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 23. FAIR VALUE MEASUREMENTS We use 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, we may be required to record at fair value other assets on a non-recurring 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, we use 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 we use for financial instruments recorded at fair value on either a recurring or non-recurring Securities Available For Sale Securities available for sale consist of both debt and equity securities. These securities are recorded at fair value on a recurring basis. At December 31, 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. We closely monitor 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. We use prices from independent pricing services and, to a lesser extent, indicative (non-binding) Derivative Financial Instruments We determine 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. We incorporate credit valuation adjustments to appropriately reflect both our own non-performance non-performance non-performance Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of our default and the default of our counterparties. However, as of December 31, 2016 and 2015, we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivatives. As a result, we have determined that our 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 Impaired Loans We reserve for commercial loan relationships greater than or equal to $500,000 that we consider impaired as defined in ASC 310 at the time we identify 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. We determine 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 their 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. We 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, we classify these non-recurring We review and evaluate impaired loans no less frequently than quarterly for additional impairment based on the same factors identified above. Other Real Estate Owned OREO is comprised principally of commercial and residential real estate properties obtained in partial or total satisfaction of loan obligations. 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 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 December 31, 2016 Assets Measured at Fair Value Debt securities available for sale U.S. Treasury $ — $ 29,953 $ — $ 29,953 U.S. government-sponsored entities — 365,098 — 365,098 Residential mortgage-backed securities Agency mortgage-backed securities — 1,252,798 — 1,252,798 Agency collateralized mortgage obligations — 535,974 — 535,974 Non-agency — 3 894 897 Commercial mortgage-backed securities — 1,291 — 1,291 States of the U.S. and political subdivisions — 35,849 — 35,849 Other debt securities — 9,487 — 9,487 Total debt securities available for sale — 2,230,453 894 2,231,347 Equity securities available for sale Financial services industry — — 492 492 Insurance services industry 148 — — 148 Total equity securities available for sale 148 — 492 640 Total securities available for sale 148 2,230,453 1,386 2,231,987 Derivative financial instruments Trading — 44,951 — 44,951 Not for trading — 9,269 — 9,269 Total derivative financial instruments — 54,220 — 54,220 Total assets measured at fair value on a recurring basis $ 148 $ 2,284,673 $ 1,386 $ 2,286,207 Liabilities Measured at Fair Value Derivative financial instruments Trading — $ 45,973 — $ 45,973 Not for trading — 1,294 — 1,294 Total derivative financial instruments — 47,267 — 47,267 Total liabilities measured at fair value on a recurring basis — $ 47,267 — $ 47,267 (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 — 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 derivative financial instruments — 51,605 — 51,605 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 we have utilized Level 3 inputs to determine fair value: (in thousands) Equity Residential Non-Agency Collateralized Mortgage Obligations Total Year Ended December 31, 2016 Balance at beginning of period $ 439 $ 1,184 $ 1,623 Total gains (losses) – realized/unrealized: Included in earnings — — — Included in other comprehensive income 53 (7 ) 46 Accretion included in earnings — 6 6 Purchases, issuances, sales and settlements: Purchases — — — Issuances — — — Sales/redemptions — — — Settlements — (289 ) (289 ) Transfers from Level 3 — — — Transfers into Level 3 — — — Balance at end of period $ 492 $ 894 $ 1,386 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 We review 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” discussion within this footnote for information relating to determining Level 3 fair values. There were no transfers of assets or liabilities between the hierarchy levels for 2016. During 2015, we transferred an equity security totaling $56,000 to non-marketable For the years ended December 31, 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 gains included in earnings are in the net securities gains line item in the consolidated statements of income. In accordance with GAAP, from time to time, we measure certain assets at fair value on a non-recurring non-recurring (in thousands) Level 1 Level 2 Level 3 Total December 31, 2016 Impaired loans — $ 500 $ 5,883 $ 6,383 Other real estate owned — 11,017 3,181 14,198 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 twelve months ended December 31, 2016 and 2015. Consequently, the fair value information presented is not as of the period’s end. Impaired loans measured or re-measured non-recurring OREO with a carrying amount of $16.0 million was written down to $12.5 million (fair value of $14.2 million less estimated costs to sell of $1.7 million), resulting in a loss of $3.5 million, which was included in earnings for 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. Derivative Assets and Liabilities. . Deposits. Short-Term Borrowings. Long-Term Borrowings. Loan Commitments and Standby Letters of Credit. off-balance non-binding, Nature of Estimates The fair values of our financial instruments are as follows: Fair Value Measurements (in thousands) Carrying Fair Value Level 1 Level 2 Level 3 December 31, 2016 Financial Assets Cash and cash equivalents $ 371,407 $ 371,407 $ 371,407 $ — $ — Securities available for sale 2,231,987 2,231,987 148 2,230,453 1,386 Securities held to maturity 2,337,342 2,294,777 — 2,293,091 1,686 Net loans and leases, including loans held for sale 14,750,792 14,446,274 — — 14,464,274 Derivative assets 54,220 54,220 — 54,220 — Accrued interest receivable 58,712 58,712 58,712 — — Financial Liabilities Deposits 16,065,647 16,045,323 13,489,152 2,556,171 — Short-term borrowings 2,503,010 2,503,277 2,503,277 — — Long-term borrowings 539,494 536,088 — — 536,088 Derivative liabilities 47,267 47,267 — 47,267 — Accrued interest payable 7,612 7,612 7,612 — — 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 — — |
Parent Company Financial Statem
Parent Company Financial Statements | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Parent Company Financial Statements | 24. PARENT COMPANY FINANCIAL STATEMENTS The following is condensed financial information of F.N.B. Corporation (parent company only). In this information, the parent company’s investments in subsidiaries are stated at cost plus equity in undistributed earnings of subsidiaries since acquisition. This information should be read in conjunction with the consolidated financial statements. Balance Sheets (in thousands) December 31 2016 2015 Assets Cash and cash equivalents $ 164,276 $ 227,554 Securities available for sale 492 1,168 Other assets 17,405 17,206 Investment in bank subsidiary 2,598,520 2,073,352 Investments in and advances to non-bank 269,998 260,341 Total Assets $ 3,050,691 $ 2,579,621 Liabilities Other liabilities $ 26,063 $ 26,831 Advances from affiliates 295,897 289,540 Long-term borrowings 147,916 157,777 Subordinated notes: Short-term 8,172 8,216 Long-term 1,026 1,075 Total Liabilities 479,074 483,439 Stockholders’ Equity 2,571,617 2,096,182 Total Liabilities and Stockholders’ Equity $ 3,050,691 $ 2,579,621 Statements of Income (in thousands) Year Ended December 31 2016 2015 2014 Income Dividend income from subsidiaries: Bank $ 108,954 $ 87,580 $ 85,000 Non-bank 8,525 7,863 9,900 117,479 95,443 94,900 Interest income 5,041 4,845 4,856 Other income 2,799 1,053 1,920 Total Income 125,319 101,341 101,676 Expenses Interest expense 13,609 9,526 8,503 Other expenses 10,377 8,993 9,252 Total Expenses 23,986 18,519 17,755 Income Before Taxes and Equity in Undistributed Income of Subsidiaries 101,333 82,822 83,921 Income tax benefit 6,352 5,088 4,498 107,685 87,910 88,419 Equity in undistributed income (loss) of subsidiaries: Bank 60,924 71,581 55,742 Non-bank 2,282 158 (111 ) Net Income $ 170,891 $ 159,649 $ 144,050 Statements of Cash Flows (in thousands) Year Ended December 31 2016 2015 2014 Operating Activities Net income $ 170,891 $ 159,649 $ 144,050 Adjustments to reconcile net income to net cash flows from operating activities: Undistributed earnings from subsidiaries (63,206 ) (71,739 ) (55,631 ) Other, net (2,530 ) 680 (637 ) Net cash flows provided by operating activities 105,155 88,590 87,782 Investing Activities Proceeds from sale of securities available for sale 815 — 934 Net (increase) decrease in advances to subsidiaries (6,263 ) 3,285 2,018 Payment for further investment in subsidiaries (71,050 ) (9,060 ) (2,877 ) Net cash received in business combinations 1,089 — 5,594 Net cash flows (used in) provided by investing activities (75,409 ) (5,775 ) 5,669 Financing Activities Net decrease in advance from affiliate 6,356 (2,797 ) (1,908 ) Net decrease in short-term borrowings (44 ) (135 ) (88 ) Decrease in long-term debt (10,291 ) (650 ) (34,865 ) Increase in long-term debt 381 98,794 821 Net proceeds from issuance of common stock 18,472 12,731 12,857 Tax benefit of stock-based compensation 1,813 28 2,714 Cash dividends paid: Preferred stock (8,041 ) (8,041 ) (8,352 ) Common stock (101,670 ) (84,511 ) (81,220 ) Net cash flows (used in) provided by financing activities (93,024 ) 15,419 (110,041 ) Net (Decrease) Increase in Cash and Cash Equivalents (63,278 ) 98,234 (16,590 ) Cash and cash equivalents at beginning of year 227,554 129,320 145,910 Cash and Cash Equivalents at End of Year $ 164,276 $ 227,554 $ 129,320 Cash paid during the year for: Interest $ 13,620 $ 8,309 $ 9,112 |
Summary of Significant Accoun34
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Basis of Presentation | Basis of Presentation Our accompanying consolidated financial statements and these notes to the financial statements include subsidiaries in which we have a controlling financial interest. We own and operate FNBPA, First National Trust Company, First National Investment Services Company, LLC, F.N.B. Investment Advisors, Inc., First National Insurance Agency, LLC (FNIA), Regency, Bank Capital Services, LLC, and F.N.B. Capital Corporation, LLC, and include 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 our 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. Such reclassifications had no impact on our net income and stockholders’ equity. Events occurring subsequent to the date of the balance sheet have been evaluated for potential recognition or disclosure in the consolidated financial statements through the date of the filing of the consolidated financial statements with the Securities and Exchange Commission (SEC). |
Use of Estimates | Use of Estimates Our accounting and reporting policies conform with GAAP. The preparation of financial statements in conformity with GAAP requires us 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, accounting for acquired loans, fair value of financial instruments, goodwill and other intangible assets, litigation 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. non-controlling |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash items in transit and amounts due from the Federal Reserve Bank (FRB) and other depository institutions (including interest-bearing deposits). |
Securities | Securities Investment securities, which consist of debt securities and certain equity securities, comprise a significant portion of our consolidated balance sheets. Such securities can be classified as “trading,” “securities held to maturity” or “securities available for sale.” Securities acquired in conjunction with acquisitions during 2014 were classified as trading securities and were carried at fair value, with unrealized gains (losses) reflected through the consolidated statements of income. We both acquired and sold these trading securities during the quarters in which each of the acquisitions occurred. As of December 31, 2016 and 2015, we did not hold any trading securities. Securities held to maturity are comprised of debt securities, for which management has the positive intent and ability to hold until their maturity. Such securities are carried at cost, adjusted for related amortization of premiums and accretion of discounts through interest income from securities, and other-than-temporary impairment (OTTI), if any. Securities that are not classified as trading or held to maturity are classified as securities available for sale. Our available for sale securities portfolio is comprised of debt securities and marketable equity securities. Such securities are carried at fair value with net unrealized gains and losses deemed to be temporary and unrealized losses deemed to be other-than-temporary and attributable to non-credit non-interest We evaluate our investment securities portfolio for OTTI on a quarterly basis. Impairment is assessed at the individual security level. We consider an investment security impaired if the fair value of the security is less than its cost or amortized cost basis. When impairment of an equity security is considered to be other-than-temporary, the security is written down to its fair value and an impairment loss is recorded as a loss within non-interest non-interest If we intend to sell the debt security or it is more likely than not we will be required to sell the security before recovery of its amortized cost basis, OTTI must be recognized in earnings equal to the entire difference between the investments’ amortized cost basis and its fair value. If we do not intend to sell the debt security and it is not more likely than not that we will be required to sell the security before recovery of its amortized cost basis, OTTI must be separated into the amount representing credit loss and the amount related to all other market factors. The amount related to credit loss will be recognized in earnings. The amount related to other market factors will be recognized in other comprehensive income, net of applicable taxes. We perform our OTTI evaluation process in a consistent and systematic manner and include an evaluation of all available evidence. Documentation of the process is as extensive as necessary to support a conclusion as to whether a decline in fair value below cost or amortized cost is temporary or other-than-temporary and includes documentation supporting both observable and unobservable inputs and a rationale for conclusions reached. This process considers factors such as the severity, length of time and anticipated recovery period of the impairment, recoveries or additional declines in fair value subsequent to the balance sheet date, recent events specific to the issuer, including investment downgrades by rating agencies and economic conditions in its industry, and the issuer’s financial condition, repayment capacity, capital strength and near-term prospects. For debt securities, we also consider the payment structure of the debt security, the likelihood of the issuer being able to make future payments, failure of the issuer of the security to make scheduled interest and principal payments, whether we have made a decision to sell the security and whether our cash or working capital requirements or contractual or regulatory obligations indicate that the debt security will be required to be sold before a forecasted recovery occurs. For equity securities, we also consider our intent and ability to retain the security for a period of time sufficient to allow for a recovery in fair value. Among the factors that we consider in determining our intent and ability to retain the security is a review of our capital adequacy, interest rate risk position and liquidity. The assessment of a security’s ability to recover any decline in fair value, the ability of the issuer to meet contractual obligations, our intent and ability to retain the security, and whether it is more likely than not we will be required to sell the security before recovery of its amortized cost basis require considerable judgment. Debt securities with credit ratings below AA at the time of purchase that are repayment-sensitive securities are evaluated using the guidance of ASC 325, Investments – Other. Investments – Debt Securities |
Securities Sold Under Agreements to Repurchase | Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase are accounted for as collateralized financing transactions and are recorded at the amounts at which the securities were sold plus accrued interest. Securities, generally U.S. government and federal agency securities, pledged as collateral under these financing arrangements cannot be sold or repledged by the secured party. The fair value of collateral either received from or provided to a third party is continually monitored and additional collateral is obtained or is requested to be returned to us as deemed appropriate. |
Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities From time to time, we may enter into derivative transactions principally to protect against the risk of adverse price or interest rate movements on the value of certain assets and liabilities and on future cash flows. We formally document all relationships between hedging instruments and hedged items, as well as our risk management objective and strategy for undertaking each hedge transaction. All derivative instruments are carried at fair value on the balance sheet as either an asset or liability in accordance with the requirements of ASC 815, Derivatives and Hedging. Changes in fair value of a derivative instrument that has been designated and qualifies as a cash flow hedge are recorded in accumulated other comprehensive income (AOCI), net of tax. Amounts are reclassified from AOCI to the consolidated statements of income in the period or periods in which the hedged transaction affects earnings. At the hedge’s inception and at least quarterly thereafter, a formal assessment is performed to determine whether changes in the fair values or cash flows of the derivative instruments have been highly effective in offsetting changes in fair values or cash flows of the hedged items and whether they are expected to be highly effective in the future. If it is determined a derivative instrument has not been or will not continue to be highly effective as a hedge, hedge accounting is discontinued. Derivative gains and losses under cash flow hedges not effective in hedging the change in fair value or expected cash flows of the hedged item are recognized immediately in the consolidated statements of income. In addition, we enter into interest rate swap agreements to meet the financing, interest rate and equity risk management needs of qualifying commercial loan customers. These agreements provide the customer the ability to convert from variable to fixed interest rates. We then enter into positions with a derivative counterparty in order to offset our exposure on the fixed components of the customer agreements. The credit risk associated with derivatives executed with customers is essentially the same as that involved in extending loans and is subject to normal credit policies and monitoring. We seek to minimize counterparty credit risk by entering into transactions with only high-quality institutions. These arrangements meet the definition of derivatives, but are not designated as hedging instruments under ASC 815. The interest rate swap agreement with the loan customer and with the counterparty are 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. |
Mortgage Loans Held for Sale and Loan Commitments | Mortgage Loans Held for Sale and Loan Commitments Certain residential mortgage loans are originated for sale in the secondary mortgage loan market. These loans are classified as loans held for sale and are carried at the lower of cost or estimated market value on an aggregate basis. Market value is determined on the basis of rates obtained in the respective secondary market for the type of loan held for sale. Loans are generally sold at a premium or discount from the carrying amount of the loan. Such premium or discount is recognized at the date of sale. Gain or loss on the sale of loans is recorded in non-interest We routinely issue interest rate lock commitments to make loans that we intend to sell. These commitments are considered derivatives. We also enter into commitments to sell loans to mitigate the risk that the market value of residential loans may decline between the time the rate commitment is issued to the customer and the time we contract to sell the loan. These commitments and sales contracts are also derivatives. Both types of derivatives are recorded at fair value. Sales contracts and commitments to make loans are not designated in a qualified hedge accounting program. Fair value adjustments related to these derivatives are recorded in current period earnings as part of mortgage banking income. |
Loans (Excluding Acquired Loans) | Loans (Excluding Acquired Loans) Loans we originate and intend to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balances, net of any deferred origination fees or costs. Interest income on loans is computed over the term of the loans using the effective interest method. Loan origination fees and certain direct costs incurred to extend credit are deferred and amortized over the term of the loan or loan commitment period as an adjustment to the related loan yield. |
Non-performing Loans/ Credit Losses | Non-performing Interest is not accrued on loans where collectability is uncertain. We discontinue interest accruals on originated loans generally when principal or interest is due and has remained unpaid for a certain number of days unless the loan is both well secured and in the process of collection. Commercial loans are placed on non-accrual non-accrual non-accrual When a loan is placed on non-accrual Loans are generally written off when deemed uncollectible or when they reach a predetermined number of days past due depending upon loan product, terms, and other factors. Recoveries of amounts previously charged off are credited to the allowance for credit losses. We consider a loan impaired when, based on current information and events, it is probable that we will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. The impairment loss is measured by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral, less estimated selling costs, if the loan is collateral dependent. Acquired impaired loans are not classified as non-performing 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality Restructured loans are those in which concessions of terms have been made as a result of deterioration in a borrower’s financial condition. In general, the modification or restructuring of a debt constitutes a troubled debt restructuring (TDR) if we for economic or legal reasons related to the borrower’s financial difficulties grant a concession to the borrower that we would not otherwise consider under current market conditions. Debt restructurings or loan modifications for a borrower occur during the normal course of business and do not necessarily constitute TDRs. To designate a loan as a TDR, the presence of both borrower financial distress and a concession of terms must exist. Additionally, a loan designated as a TDR does not necessarily result in the automatic placement of the loan on non-accrual non-accrual In accordance with ASC 310-40, 310-30 |
Allowance for Credit Losses | Allowance for Credit Losses The allowance for credit losses is established as losses are estimated to have occurred through a provision charged to earnings. Loan losses are charged against the allowance for credit losses when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance for credit losses. Allowances for impaired commercial loans over $500,000 are generally determined based on collateral values or the present value of estimated cash flows. All other impaired loans are evaluated in the aggregate based on loan segment loss given default. Changes in the allowance for credit losses related to impaired loans are charged or credited to the provision for credit losses. The allowance for credit losses is maintained at a level that, in management’s judgment, is believed appropriate to absorb probable losses associated with specifically identified loans, as well as estimated probable credit losses inherent in the remainder of the loan portfolio. The appropriateness of the allowance for credit losses is based on management’s evaluation of potential loan losses in the loan portfolio, which includes an assessment of past experience, current economic conditions in specific industries and geographic areas, general economic conditions, known and inherent risks in the loan portfolio, the estimated value of underlying collateral and residuals and changes in the composition of the loan portfolio. Determination of the allowance for credit losses is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on transition matrices with predefined loss emergence periods and consideration of qualitative factors, all of which are susceptible to significant change. Credit impaired loans obtained through acquisitions are accounted for under the provisions of ASC 310-30. 310-30. 310-30 |
Acquired Loans | Acquired Loans Acquired loans (impaired and non-impaired) The carryover of allowance for credit losses related to acquired loans is prohibited as any credit losses in the loans are included in the determination of the fair value of the loans at the acquisition date. The allowance for credit losses on acquired loans reflects only those losses incurred after acquisition and represents the present value of cash flows expected at acquisition that is no longer expected to be collected. At acquisition, we consider the following factors as indicators that an acquired loan has evidence of deterioration in credit quality and is therefore impaired and in the scope of ASC 310-30: • loans that were 90 days or more past due; • loans that had an internal risk rating of substandard or worse. Substandard is consistent with regulatory definitions and is defined as having a well-defined weakness that jeopardizes liquidation of the loan; • loans that were classified as non-accrual • loans that had been previously modified in a TDR. Any acquired loans that were not individually in the scope of ASC 310-30 310-30 non-impaired 310-30. 310-30 310-20 The excess of cash flows expected to be collected at acquisition over recorded fair value is referred to as the accretable yield. The accretable yield is recognized into income over the remaining life of the loan, or pool of loans, using an effective yield method, if the timing and/or amount of cash flows expected to be collected can be reasonably estimated (the accretion model). If the timing and/or amount of cash flows expected to be collected cannot be reasonably estimated, the cost recovery method of income recognition must be used. The difference between the loan’s total scheduled principal and interest payments over all cash flows expected at acquisition is referred to as the non-accretable non-accretable Over the life of the acquired loan, we continue to estimate cash flows expected to be collected. Decreases in expected cash flows, other than from prepayments or rate adjustments, are recognized as impairments through a charge to the provision for credit losses resulting in an increase in the allowance for credit losses. Subsequent improvements in cash flows result in first, reversal of existing valuation allowances recognized subsequent to acquisition, if any, and next, an increase in the amount of accretable yield to be subsequently recognized on a prospective basis over the loan’s remaining life. Acquired loans that met the criteria for non-accrual non-accrual non-performing |
Premises and Equipment | Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the asset’s estimated useful life. Leasehold improvements are expensed over the lesser of the asset’s estimated useful life or the term of the lease including renewal periods when reasonably assured. Useful lives are dependent upon the nature and condition of the asset and range from 3 to 40 years. Maintenance and repairs are charged to expense as incurred, while major improvements are capitalized and amortized to expense over the identified useful life. |
Cloud Computing Arrangements | Cloud Computing Arrangements Beginning in 2016, for new or materially modified contracts, we 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 internal-use non-interest |
Other Real Estate Owned | Other Real Estate Owned Other real estate owned (OREO) is comprised principally of commercial and residential real estate properties obtained in partial or total satisfaction of loan obligations. OREO acquired in settlement of indebtedness is included in other assets initially at the lower of estimated fair value of the asset less estimated selling costs or the carrying amount of the loan. Changes to the value subsequent to transfer are recorded in non-interest non-interest |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. Other intangible assets represent purchased assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights. Intangible assets that have finite lives, such as core deposit intangibles, customer relationship intangibles and renewal lists, are amortized over their estimated useful lives and subject to periodic impairment testing. Core deposit intangibles are primarily amortized over ten years using accelerated methods. Customer renewal lists and mortgage servicing rights are amortized over their estimated useful lives which range from eight to thirteen years. Goodwill and other intangibles are subject to impairment testing at the reporting unit level, which must be conducted at least annually. We perform impairment testing during the fourth quarter of each year, or more frequently if impairment indicators exist. We also continue to monitor other intangibles for impairment and to evaluate carrying amounts, as necessary. We perform a quantitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing updated quantitative factors, we determine it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, we do not have to perform the two-step |
Income Taxes | Income Taxes We file a consolidated federal income tax return. The provision for federal and state income taxes is based on income reported on the consolidated financial statements, rather than the amounts reported on the respective income tax returns. Deferred tax assets and liabilities are computed using tax rates expected to apply to taxable income in the years in which those assets and liabilities are expected to be realized. The effect on deferred tax assets and liabilities resulting from a change in tax rates is recognized as income or expense in the period that the change in tax rates is enacted. We make certain estimates and judgments in determining income tax expense for financial statement purposes. These estimates and judgments are applied in the calculation of certain tax credits and in the calculation of the deferred income tax expense or benefit associated with certain deferred tax assets and liabilities. Significant changes to these estimates may result in an increase or decrease to our tax provision in a subsequent period. We recognize interest and/or penalties related to income tax matters in income tax expense. We assess the likelihood that we will be able to recover our deferred tax assets. If recovery is not likely, we will increase our provision for income taxes by recording a valuation allowance against the deferred tax assets that are unlikely to be recovered. We believe that we will ultimately recover the deferred tax assets recorded on our balance sheet. However, should there be a change in our ability to recover our deferred tax assets, the effect of this change would be recorded through the provision for income taxes in the period during which such change occurs. We periodically review the tax positions we take on our tax return and apply a more likely than not recognition threshold for all tax positions that are uncertain. The amount recognized in the financial statements is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more likely than not test, no tax benefit is recorded. |
Advertising and Promotional Costs | Advertising and Promotional Costs Advertising and promotional costs are generally expensed as incurred. |
Per Share Amounts | Per Share Amounts Earnings per common share is computed using net income available to common stockholders, which is net income adjusted for preferred stock dividends. 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 net income available to common stockholders and the weighted average number of shares of common stock outstanding are made only when such adjustments dilute earnings per common share. |
Retirement Plans | Retirement Plans FNB sponsors retirement plans for our employees. The expense associated with the plans is calculated in accordance with ASC 715, Compensation – Retirement Benefits |
Stock Based Compensation | Stock Based Compensation We account for our 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 our consolidated statement 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 our 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. |
Statement of Cash Flows | Statement of Cash Flows ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force), |
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), We expect to adopt ASU 2014-09 2014-09 non-interest out-of-scope 2014-09 2014-09. |
Investments | Investments ASU 2016-07, Investments – Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting, |
Extinguishments of Liabilities | Extinguishments of Liabilities ASU 2016-04, Liabilities – Extinguishments of Liabilities (Subtopic 405-20): |
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): |
Adjustments for New Accounting Pronouncement [Member] | |
Business Combinations | Business Combinations ASU 2017-01, Business Combinations (Topic 850): Clarifying the Definition of a Business |
Derivative Instruments 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), 815-15-25-42. 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), |
Non-performing Loans/ Credit Losses | Credit Losses ASU 2016-13 , Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments held-to-maturity off-balance available-for-sale |
Goodwill and Other Intangible Assets | Goodwill Accounting Standards Update (ASU or Update) 2017-04, Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment |
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) | 12 Months Ended |
Dec. 31, 2016 | |
Amounts Recorded on Consolidated Balance Sheets in Conjunction with Acquisition | The following table summarizes the amounts recorded on the consolidated balance sheets as of each of the acquisition dates in conjunction with the acquisitions noted above: (in thousands) Fifth Third METR BofA Branches OBA BCSB Fair value of consideration paid $ — $ 404,207 $ — $ 85,554 $ 80,547 Fair value of identifiable assets acquired: Cash and cash equivalents 198,872 46,890 148,159 32,913 26,980 Securities — 722,980 — 39,891 208,538 Loans 95,354 1,862,447 842 291,393 304,932 Core deposit intangibles 4,129 24,163 3,000 4,304 6,591 Fixed and other assets 14,069 127,185 1,133 21,659 49,081 Total identifiable assets acquired 312,424 2,783,665 153,134 390,160 596,122 Fair value of liabilities assumed: Deposits 302,529 2,328,238 154,619 295,922 532,197 Borrowings — 227,539 — 27,602 17,011 Other liabilities 24,041 8,735 — 1,189 8,819 Total liabilities assumed 326,570 2,564,512 154,619 324,713 558,027 Fair value of net identifiable assets acquired (14,146 ) 219,153 (1,485 ) 65,447 38,095 Goodwill recognized (1) $ 14,146 $ 185,054 $ 1,485 $ 20,107 $ 42,452 (1) All of the goodwill for these transactions has been recorded in the Community Banking segment. |
Metro Bancorp Inc [Member] | |
Business Acquisition Pro Forma Information | The following pro forma financial information for the year ended December 31, 2015 reflects our 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 we expect to receive as a result of the acquisition: (dollars in thousands) FNB METR Pro Forma Adjustments Pro Forma Combined Revenue (net interest income and non-interest $ 660,632 $ 134,003 $ (4,244 ) $ 790,391 Net income 159,649 20,215 (8,014 ) 171,850 Net income available to common stockholders 151,608 20,135 (7,934 ) 163,809 Earnings per common share – basic 0.87 1.42 — 0.78 Earnings per common share – diluted 0.86 1.40 — 0.78 |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 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 Securities Available for Sale (AFS): December 31, 2016 U.S. Treasury $ 29,874 $ 79 $ — $ 29,953 U.S. government-sponsored entities 367,604 864 (3,370 ) 365,098 Residential mortgage-backed securities: Agency mortgage-backed securities 1,267,535 2,257 (16,994 ) 1,252,798 Agency collateralized mortgage obligations 546,659 419 (11,104 ) 535,974 Non-agency 891 6 — 897 Commercial mortgage-backed securities 1,292 — (1 ) 1,291 States of the U.S. and political subdivisions 36,065 86 (302 ) 35,849 Other debt securities 9,828 94 (435 ) 9,487 Total debt securities 2,259,748 3,805 (32,206 ) 2,231,347 Equity securities 273 367 — 640 Total securities available for sale $ 2,260,021 $ 4,172 $ (32,206 ) $ 2,231,987 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 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 December 31, 2014 U.S. Treasury $ 29,604 $ 78 $ — $ 29,682 U.S. government-sponsored entities 338,330 742 (1,939 ) 337,133 Residential mortgage-backed securities: Agency mortgage-backed securities 546,572 7,548 (35 ) 554,085 Agency collateralized mortgage obligations 580,601 1,617 (9,047 ) 573,171 Non-agency 1,414 17 — 1,431 Commercial mortgage-backed securities 7,891 — (11 ) 7,880 States of the U.S. and political subdivisions 12,713 477 (32 ) 13,158 Other debt securities 16,615 420 (857 ) 16,178 Total debt securities 1,533,740 10,899 (11,921 ) 1,532,718 Equity securities 1,031 316 — 1,347 Total securities available for sale $ 1,534,771 $ 11,215 $ (11,921 ) $ 1,534,065 |
Schedule of Amortized Cost and Fair Value of Securities Held to Maturity | (in thousands) Amortized Cost Gross Gross Fair Securities Held to Maturity (HTM): December 31, 2016 U.S. Treasury $ 500 $ 137 $ — $ 637 U.S. government-sponsored entities 272,645 348 (4,475 ) 268,518 Residential mortgage-backed securities: Agency mortgage-backed securities 852,215 5,654 (8,645 ) 849,224 Agency collateralized mortgage obligations 743,148 447 (17,801 ) 725,794 Non-agency 1,689 3 (6 ) 1,686 Commercial mortgage-backed securities 49,797 181 (226 ) 49,752 States of the U.S. and political subdivisions 417,348 1,456 (19,638 ) 399,166 Total securities held to maturity $ 2,337,342 $ 8,226 $ (50,791 ) $ 2,294,777 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 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 December 31, 2014 U.S. Treasury $ 502 $ 168 $ — $ 670 U.S. government-sponsored entities 101,602 885 (524 ) 101,963 Residential mortgage-backed securities: Agency mortgage-backed securities 677,169 16,712 (346 ) 693,535 Agency collateralized mortgage obligations 501,965 1,858 (7,329 ) 496,494 Non-agency 4,285 28 — 4,313 Commercial mortgage-backed securities 17,560 179 — 17,739 States of the U.S. and political subdivisions 150,272 3,315 (43 ) 153,544 Total securities held to maturity $ 1,453,355 $ 23,145 $ (8,242 ) $ 1,468,258 |
Gross Gains and Gross Losses Realized on Sales of Securities | Gross gains and gross losses were realized on securities as follows: Year Ended December 31 2016 2015 2014 (in thousands) Gross gains $ 713 $ 831 $ 20,241 Gross losses (1 ) (9 ) (8,524 ) Net gains $ 712 $ 822 $ 11,717 |
Amortized Cost and Fair Value of Securities, by Contractual Maturities | As of December 31, 2016, the amortized cost and fair value of securities, by contractual maturities, were as follows: Available for Sale Held to Maturity (in thousands) Amortized Fair Amortized Fair Due in one year or less $ 84,929 $ 85,222 $ 10,395 $ 10,404 Due from one to five years 330,096 327,428 271,662 267,497 Due from five to ten years 21,064 20,973 50,994 50,567 Due after ten years 7,282 6,764 357,442 339,853 443,371 440,387 690,493 668,321 Residential mortgage-backed securities: Agency mortgage-backed securities 1,267,535 1,252,798 852,215 849,224 Agency collateralized mortgage obligations 546,659 535,974 743,148 725,794 Non-agency 891 897 1,689 1,686 Commercial mortgage-backed securities 1,292 1,291 49,797 49,752 Equity securities 273 640 — — Total securities $ 2,260,021 $ 2,231,987 $ 2,337,342 $ 2,294,777 |
Schedule of Securities Pledged as Collateral | Following is information relating to securities pledged: December 31 2016 2015 (dollars in thousands) Securities pledged (carrying value): To secure public deposits, trust deposits and for other purposes as required by law $ 2,779,335 $ 1,728,939 As collateral for short-term borrowings 322,038 272,629 Securities pledged as a percent of total securities |
Summaries of Fair Values and Unrealized Losses of Securities, Segregated by Length of Impairment | Following are summaries of the fair values and unrealized losses of securities, segregated by length of impairment: Less than 12 Months Greater than 12 Months Total (dollars in thousands) # Fair Value Unrealized Losses # Fair Unrealized # Fair Value Unrealized Securities Available for Sale: December 31, 2016 U.S. government-sponsored entities 11 $ 211,636 $ (3,370 ) — — — 11 $ 211,636 $ (3,370 ) Residential mortgage-backed securities: Agency mortgage-backed securities 55 1,056,731 (16,994 ) — — — 55 1,056,731 (16,994 ) Agency collateralized mortgage obligations 26 346,662 (7,261 ) 9 $ 89,040 $ (3,843 ) 35 435,702 (11,104 ) Commercial mortgage-backed securities 1 1,291 (1 ) — — — 1 1,291 (1 ) States of the U.S. and political subdivisions 20 28,631 (302 ) — — — 20 28,631 (302 ) Other debt securities — — — 3 4,470 (435 ) 3 4,470 (435 ) Total temporarily impaired securities AFS 113 $ 1,644,951 $ (27,928 ) 12 $ 93,510 $ (4,278 ) 125 $ 1,738,461 $ (32,206 ) 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 temporarily impaired securities AFS 36 $ 589,609 $ (5,027 ) 23 $ 254,062 $ (8,326 ) 59 $ 843,671 $ (13,353 ) Securities Held to Maturity: December 31, 2016 U.S. government-sponsored entities 10 $ 185,525 $ (4,475 ) — — — 10 $ 185,525 $ (4,475 ) Residential mortgage-backed securities: Agency mortgage-backed securities 36 551,404 (8,645 ) — — — 36 551,404 (8,645 ) Agency collateralized mortgage obligations 29 516,237 (13,710 ) 12 $ 112,690 (4,091 ) 41 628,927 (17,801 ) Non-agency 3 1,128 (6 ) — — — 3 1,128 (6 ) Commercial mortgage-backed securities 1 12,317 (10 ) 1 8,267 (216 ) 2 20,584 (226 ) States of the U.S. and political subdivisions 94 247,301 (19,638 ) — — — 94 247,301 (19,638 ) Total temporarily impaired securities HTM 173 $ 1,513,912 $ (46,484 ) 13 $ 120,957 $ (4,307 ) 186 $ 1,634,869 $ (50,791 ) 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 temporarily impaired securities HTM 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 Year Ended December 31, 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 (27 ) (27 ) Ending balance $ — $ — For the Year Ended December 31, 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) | 12 Months Ended |
Dec. 31, 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 Acquired Total Loans and December 31, 2016 Commercial real estate $ 4,095,817 $ 1,339,345 $ 5,435,162 Commercial and industrial 2,711,886 330,895 3,042,781 Commercial leases 196,636 — 196,636 Total commercial loans and leases 7,004,339 1,670,240 8,674,579 Direct installment 1,765,257 79,142 1,844,399 Residential mortgages 1,446,776 397,798 1,844,574 Indirect installment 1,196,110 203 1,196,313 Consumer lines of credit 1,099,627 201,573 1,301,200 Other 35,878 — 35,878 Total loans and leases, net of unearned income $ 12,547,987 $ 2,348,956 $ 14,896,943 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: December 31 2016 2015 (dollars in thousands) Regency consumer finance loans $ 184,687 $ 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: December 31 2016 2015 (dollars in thousands) Commercial construction loans $ 459,995 $ 352,322 Percent of total loans and leases 3.1 % 2.9 % Commercial real estate: Percent owner-occupied 36.2 % 38.1 % Percent non-owner-occupied 63.8 % 61.9 % |
Summary of Loans to Related Parties | Following is a summary of the activity for these loans to related parties during 2016: (in thousands) Balance at beginning of period $ 41,801 New loans 4,246 Repayments (4,013 ) Other (20,465 ) Balance at end of period $ 21,569 |
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: December 31 2016 2015 (in thousands) Accounted for under ASC 310-30: Outstanding balance $ 2,346,687 $ 1,258,418 Carrying amount 2,015,904 1,011,139 Accounted for under ASC 310-20: Outstanding balance 342,015 146,161 Carrying amount 325,784 140,595 Total acquired loans: Outstanding balance 2,688,702 1,404,579 Carrying amount 2,341,688 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. 310-20 Year Ended December 31 2016 2015 (in thousands) Balance at beginning of period $ 256,120 $ 331,899 Acquisitions 308,312 — Reduction due to unexpected early payoffs (86,046 ) (47,075 ) Reclass from non-accretable 92,823 32,141 Disposals/transfers (409 ) (674 ) Accretion (103,730 ) (60,171 ) Balance at end of period $ 467,070 $ 256,120 |
Summary of Acquisition of Purchased Loans | The following table reflects amounts at acquisition for all purchased loans subject to ASC 310-30 non-impaired (in thousands) Acquired Acquired Performing Loans Total Contractually required cash flows at acquisition $ 99,611 $ 2,191,476 $ 2,291,087 Non-accretable (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 December 31 2016 2015 (dollars in thousands) Non-accrual $ 65,479 $ 49,897 Troubled debt restructurings 20,428 22,028 Total non-performing 85,907 71,925 Other real estate owned (OREO) 32,490 38,918 Total non-performing $ 118,397 $ 110,843 Asset quality ratios: Non-performing 0.58 % 0.59 % Non-performing 0.79 % 0.91 % Non-performing 0.54 % 0.63 % |
Age Analysis of Past Due Loans, by Class | The following tables provide an analysis of the aging of loans by class segregated by loans and leases originated and loans acquired: (in thousands) 30-89 Days Past Due ³ 90 Days and Still Non- Accrual Total Past Due Current Total Loans and Originated Loans and Leases December 31, 2016 Commercial real estate $ 8,452 $ 1 $ 20,114 $ 28,567 $ 4,067,250 $ 4,095,817 Commercial and industrial 16,019 3 24,141 40,163 2,671,723 2,711,886 Commercial leases 973 1 3,429 4,403 192,233 196,636 Total commercial loans and leases 25,444 5 47,684 73,133 6,931,206 7,004,339 Direct installment 10,573 4,386 6,484 21,443 1,743,814 1,765,257 Residential mortgages 10,594 3,014 3,316 16,924 1,429,852 1,446,776 Indirect installment 9,312 513 1,983 11,808 1,184,302 1,196,110 Consumer lines of credit 3,529 1,112 1,616 6,257 1,093,370 1,099,627 Other 398 83 1,000 1,481 34,397 35,878 Total originated loans and leases $ 59,850 $ 9,113 $ 62,083 $ 131,046 $ 12,416,941 $ 12,547,987 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)/ Premium Total Loans Acquired Loans December 31, 2016 Commercial real estate $ 9,501 $ 23,890 $ 949 $ 34,340 $ 1,384,752 $ (79,747 ) $ 1,339,345 Commercial and industrial 1,789 2,942 2,111 6,842 353,494 (29,441 ) 330,895 Total commercial loans 11,290 26,832 3,060 41,182 1,738,246 (109,188 ) 1,670,240 Direct installment 2,317 1,344 — 3,661 73,479 2,002 79,142 Residential mortgages 8,428 10,816 — 19,244 416,561 (38,007 ) 397,798 Indirect installment 19 4 — 23 96 84 203 Consumer lines of credit 2,156 1,528 336 4,020 201,958 (4,405 ) 201,573 Total acquired loans $ 24,210 $ 40,524 $ 3,396 $ 68,130 $ 2,430,340 $ (149,514 ) $ 2,348,956 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 loans acquired is based on the contractual balance outstanding at December 31, 2016 and 2015. (2) Acquired loans are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if we can reasonably estimate the timing and amount of expected cash flows on such loans. In these instances, we do not consider acquired contractually delinquent loans to be non-accrual non-performing non-accrual non-performing non-accrual non-performing. |
Summary of Commercial Loans by Credit Quality | The following tables present a summary of our commercial loans 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 December 31, 2016 Commercial real estate $ 3,895,764 $ 130,452 $ 69,588 $ 13 $ 4,095,817 Commercial and industrial 2,475,955 104,652 128,089 3,190 2,711,886 Commercial leases 188,662 3,789 4,185 — 196,636 Total originated commercial loans and leases $ 6,560,381 $ 238,893 $ 201,862 $ 3,203 $ 7,004,339 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 December 31, 2016 Commercial real estate $ 1,144,676 $ 85,894 $ 108,128 $ 647 $ 1,339,345 Commercial and industrial 274,819 20,593 34,967 516 330,895 Total acquired commercial loans $ 1,419,495 $ 106,487 $ 143,095 $ 1,163 $ 1,670,240 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 and other loans by payment status: Consumer Loan Credit Quality by Payment Status (in thousands) Performing Non-Performing Total December 31, 2016 Direct installment $ 1,750,305 $ 14,952 $ 1,765,257 Residential mortgages 1,433,409 13,367 1,446,776 Indirect installment 1,193,930 2,180 1,196,110 Consumer lines of credit 1,096,642 2,985 1,099,627 Total originated consumer loans $ 5,474,286 $ 33,484 $ 5,507,770 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 Total originated consumer loans $ 4,693,295 $ 30,116 $ 4,723,411 |
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 Year Ended December 31, 2016 Commercial real estate $ 23,771 $ 19,699 $ 464 $ 20,163 $ 13 $ 19,217 Commercial and industrial 25,719 14,781 8,996 23,777 3,190 29,730 Commercial leases 3,429 3,429 — 3,429 — 3,394 Total commercial loans and leases 52,919 37,909 9,460 47,369 3,203 52,341 Direct installment 16,440 14,952 — 14,952 — 14,997 Residential mortgages 14,090 13,367 — 13,367 — 13,200 Indirect installment 5,172 2,180 — 2,180 — 2,037 Consumer lines of credit 3,858 2,985 — 2,985 — 2,813 Other 1,000 1,000 — 1,000 — 1,000 Total $ 93,479 $ 72,393 $ 9,460 $ 81,853 $ 3,203 $ 86,388 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: December 31 2016 2015 (in thousands) Commercial real estate $ 4,538 $ 3,073 Commercial and industrial 500 695 Total commercial loans 5,038 3,768 Direct installment 1,005 1,557 Residential mortgages 632 659 Indirect installment 221 221 Consumer lines of credit 372 522 Total allowance on acquired loans $ 7,268 $ 6,727 |
Summary of Composition of Total TDRs | Following is a summary of the composition of total TDRs: December 31 2016 2015 (in thousands) Accruing: Performing $ 17,470 $ 15,165 Non-performing 20,428 22,028 Non-accrual 9,035 8,307 Total TDRs $ 46,933 $ 45,500 |
Reserve for Commercial TDRs Included in Allowance for Credit Losses | The reserve for commercial TDRs included in the allowance for credit losses is presented in the following table: December 31 2016 2015 (in thousands) Specific reserves for commercial TDRs $ 291 $ 300 Pooled reserves for individual commercial loans under $500 276 929 |
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 loans, by class, that have been restructured: Year Ended December 31 2016 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 4 $ 778 $ 737 3 $ 1,165 $ 960 Commercial and industrial 3 1,727 1,504 1 5 4 Total commercial loans 7 2,505 2,241 4 1,170 964 Direct installment 527 6,090 5,566 489 6,712 6,314 Residential mortgages 45 2,155 2,081 45 1,667 1,660 Indirect installment 19 51 51 17 55 48 Consumer lines of credit 81 1,419 1,283 58 950 832 Total 679 $ 12,220 $ 11,222 613 $ 10,554 $ 9,818 |
Summary of Originated Troubled Debt Restructurings by Class of Loans and Leases, 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 Year Ended December 31 2016 2015 (dollars in thousands) Number Contracts Recorded Investment Number Contracts Recorded Investment Commercial real estate — $ — 1 $ 26 Commercial and industrial — — — — Total commercial loans — — 1 26 Direct installment 90 313 97 510 Residential mortgages 7 285 7 306 Indirect installment 18 35 9 14 Consumer lines of credit 3 394 — — Total 118 $ 1,027 114 $ 856 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 12 Months Ended |
Dec. 31, 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 Year Charge- Recoveries Net Provision Balance at End of Year Ended December 31, 2016 Commercial real estate $ 41,741 $ (6,657 ) $ 3,669 $ (2,988 ) $ 7,882 $ 46,635 Commercial and industrial 41,023 (19,584 ) 2,508 (17,076 ) 24,044 47,991 Commercial leases 2,541 (962 ) 66 (896 ) 1,635 3,280 Commercial loans and leases 85,305 (27,203 ) 6,243 (20,960 ) 33,561 97,906 Direct installment 21,587 (10,153 ) 1,822 (8,331 ) 8,135 21,391 Residential mortgages 7,909 (441 ) 74 (367 ) 2,540 10,082 Indirect installment 9,889 (7,855 ) 2,015 (5,840 ) 6,515 10,564 Consumer lines of credit 9,582 (2,085 ) 265 (1,820 ) 1,694 9,456 Other 1,013 (2,729 ) 131 (2,598 ) 2,977 1,392 Total allowance on originated loans 135,285 (50,466 ) 10,550 (39,916 ) 55,422 150,791 Purchased credit-impaired loans 834 (399 ) 42 (357 ) 95 572 Other acquired loans 5,893 (649 ) 1,217 568 235 6,696 Total allowance on acquired loans 6,727 (1,048 ) 1,259 211 330 7,268 Total allowance $ 142,012 $ (51,514 ) $ 11,809 $ (39,705 ) $ 55,752 $ 158,059 Year Ended December 31, 2015 Commercial real estate $ 37,588 $ (4,443 ) $ 1,117 $ (3,326 ) $ 7,479 $ 41,741 Commercial and industrial 32,645 (3,562 ) 1,773 (1,789 ) 10,167 41,023 Commercial leases 2,398 (544 ) 101 (443 ) 586 2,541 Commercial loans and leases 72,631 (8,549 ) 2,991 (5,558 ) 18,232 85,305 Direct installment 20,538 (10,844 ) 1,527 (9,317 ) 10,366 21,587 Residential mortgages 8,024 (1,010 ) 85 (925 ) 810 7,909 Indirect installment 7,504 (6,427 ) 1,190 (5,237 ) 7,622 9,889 Consumer lines of credit 8,496 (1,653 ) 175 (1,478 ) 2,564 9,582 Other 759 (1,691 ) 55 (1,636 ) 1,890 1,013 Total allowance on originated loans 117,952 (30,174 ) 6,023 (24,151 ) 41,484 135,285 Purchased credit-impaired loans 660 (64 ) 19 (45 ) 219 834 Other acquired loans 7,314 (830 ) 671 (159 ) (1,262 ) 5,893 Total allowance on acquired loans 7,974 (894 ) 690 (204 ) (1,043 ) 6,727 Total allowance $ 125,926 $ (31,068 ) $ 6,713 $ (24,355 ) $ 40,441 $ 142,012 Year Ended December 31, 2014 Commercial real estate $ 32,548 $ (6,568 ) $ 2,351 $ (4,217 ) $ 9,257 $ 37,588 Commercial and industrial 32,603 (3,454 ) 1,412 (2,042 ) 2,084 32,645 Commercial leases 1,903 (415 ) 105 (310 ) 805 2,398 Commercial loans and leases 67,054 (10,437 ) 3,868 (6,569 ) 12,146 72,631 Direct installment 17,824 (9,600 ) 1,163 (8,437 ) 11,151 20,538 Residential mortgages 5,836 (760 ) 74 (686 ) 2,874 8,024 Indirect installment 6,409 (3,627 ) 875 (2,752 ) 3,847 7,504 Consumer lines of credit 7,231 (1,495 ) 218 (1,277 ) 2,542 8,496 Other 530 (1,329 ) 24 (1,305 ) 1,534 759 Total allowance on originated loans 104,884 (27,248 ) 6,222 (21,026 ) 34,094 117,952 Purchased credit-impaired loans 1,000 (2,614 ) 1 (2,613 ) 2,273 660 Other acquired loans 4,900 (873 ) 1,006 133 2,281 7,314 Total allowance on acquired loans 5,900 (3,487 ) 1,007 (2,480 ) 4,554 7,974 Total allowance $ 110,784 $ (30,735 ) $ 7,229 $ (23,506 ) $ 38,648 $ 125,926 |
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 originated loan and lease balances by class: Allowance Loans and Leases Outstanding (in thousands) Individually Evaluated for Impairment Collectively Evaluated for Impairment Originated Individually Evaluated for Impairment Collectively Evaluated Impairment December 31, 2016 Commercial real estate $ 13 $ 46,622 $ 4,095,817 $ 12,973 $ 4,082,844 Commercial and industrial 3,190 44,801 2,711,886 21,746 2,690,140 Commercial leases — 3,280 196,636 — 196,636 Total commercial loans and leases 3,203 94,703 7,004,339 34,719 6,969,620 Direct installment — 21,391 1,765,257 — 1,765,257 Residential mortgages — 10,082 1,446,776 — 1,446,776 Indirect installment — 10,564 1,196,110 — 1,196,110 Consumer lines of credit — 9,456 1,099,627 — 1,099,627 Other — 1,392 35,878 — 35,878 Total $ 3,203 $ 147,588 $ 12,547,987 $ 34,719 $ 12,513,268 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 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Summary of Premises and Equipment | Following is a summary of premises and equipment: December 31 2016 2015 (in thousands) Land $ 45,640 $ 33,023 Premises 186,784 143,757 Equipment 174,325 130,066 406,749 306,846 Accumulated depreciation (162,793 ) (147,766 ) Total premises and equipment, net $ 243,956 $ 159,080 |
Depreciation Expense for Premises and Equipment | Depreciation expense for premises and equipment is presented in the following table: December 31 2016 2015 2014 (in thousands) Depreciation expense for premises and equipment $ 23,355 $ 20,009 $ 18,671 |
Schedule of Rent Expense | Rental expense is presented in the following table: December 31 2016 2015 2014 (in thousands) Rental expense $ 21,015 $ 16,193 $ 14,564 |
Summary of Future Minimum Lease Payments | Following is a summary of future minimum lease payments for years following December 31, 2016: (in thousands) 2017 $ 20,141 2018 17,927 2019 15,490 2020 12,979 2021 10,912 Later years 55,128 Total minimum rental commitment under leases $ 132,577 |
Goodwill and Other Intangible40
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Rollforward of Goodwill | The following table shows a rollforward of goodwill by line of business: (in thousands) Community Wealth Manage- Insurance Consumer Finance Total Balance at January 1, 2015 $ 813,434 $ 8,020 $ 8,950 $ 1,809 $ 832,213 Goodwill (deductions) additions (1,035 ) — 1,908 — 873 Balance at December 31, 2015 812,399 8,020 10,858 1,809 833,086 Goodwill (deductions) additions 199,200 — (157 ) — 199,043 Balance at December 31, 2016 $ 1,011,599 $ 8,020 $ 10,701 $ 1,809 $ 1,032,129 |
Summary of Core Deposit Intangibles, Customer Renewal Lists and Mortgage Servicing Rights | The following table shows a summary of core deposit intangibles, customer renewal lists and mortgage servicing rights: (in thousands) Core Customer Mortgage Servicing Rights Total Finite- December 31, 2016 Gross carrying amount $ 139,886 $ 12,352 $ 19,914 $ 172,152 Accumulated amortization (89,888 ) (8,544 ) (6,393 ) (104,825 ) Net carrying amount $ 49,998 $ 3,808 $ 13,521 $ 67,327 December 31, 2015 Gross carrying amount $ 111,594 $ 12,351 $ 12,766 $ 136,711 Accumulated amortization (79,362 ) (7,860 ) (3,845 ) (91,067 ) Net carrying amount $ 32,232 $ 4,491 $ 8,921 $ 45,644 |
Schedule of Amortization Expense Recognized | The following table summarizes amortization expense recognized: December 31 2016 2015 2014 (in thousands) Amortization expense of other core deposit intangibles and customer renewal lists $ 11,210 $ 8,305 $ 9,717 Amortization expense of mortgage servicing rights 2,548 2,250 2,593 Total amortization of intangibles $ 13,758 $ 10,555 $ 12,310 |
Schedule of Expected Amortization Expenses on Finite-Lived Intangible Assets | Following is a summary of the expected amortization expense on finite-lived intangible assets, assuming no new additions, for each of the five years following December 31, 2016: (in thousands) 2017 $ 12,362 2018 9,864 2019 8,608 2020 7,894 2021 7,032 Total $ 45,760 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Summary of Deposits | Following is a summary of deposits: December 31 2016 2015 (in thousands) Non-interest-bearing $ 4,205,337 $ 3,059,949 Interest-bearing demand 6,931,381 5,311,589 Savings 2,352,434 1,786,459 Certificates and other time deposits: Less than $100,000 1,680,068 1,390,619 $100,000 through $250,000 642,509 861,042 Greater than $250,000 253,918 213,805 Total deposits $ 16,065,647 $ 12,623,463 |
Time Deposits by Remaining Maturity | Following is a summary of time deposits of $100,000 or more by remaining maturity at December 31, 2016: (in thousands) Certificates Other Total Three months or less $ 94,704 $ 9,006 $ 103,710 Three to six months 98,110 8,265 106,375 Six to twelve months 157,512 16,879 174,391 Over twelve months 394,627 117,324 511,951 Total $ 744,953 $ 151,474 $ 896,427 |
Summary of Scheduled Maturities of Certificates and Other Time Deposits | Following is a summary of the scheduled maturities of certificates and other time deposits for the years following December 31, 2016: (in thousands) 2017 $ 1,299,330 2018 473,266 2019 290,092 2020 246,590 2021 132,960 Later years 134,257 Total $ 2,576,495 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Summary of Short-Term Borrowings | Following is a summary of short-term borrowings: December 31 2016 2015 (in thousands) Securities sold under repurchase agreements $ 313,062 $ 266,732 Federal Home Loan Bank advances 1,025,000 1,090,000 Federal funds purchased 1,037,000 568,000 Subordinated notes 127,948 124,164 Total short-term borrowings $ 2,503,010 $ 2,048,896 |
Schedule of Weighted Average Interest Rates on Short-Term Borrowings | The following represents weighted average interest rates on short-term borrowings: December 31 2016 2015 2014 Year-to-date 0.61 % 0.42 % 0.39 % Period-end 0.69 % 0.48 % 0.37 % |
Long-Term Borrowings (Tables)
Long-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Summary of Long-Term Borrowings | Following is a summary of long-term borrowings: December 31 2016 2015 (in thousands) Federal Home Loan Bank advances $ 305,110 $ 400,017 Subordinated notes 87,147 84,668 Junior subordinated debt 48,600 58,298 Other subordinated debt 98,637 98,497 Total long-term borrowings $ 539,494 $ 641,480 |
Scheduled Annual Maturities for Long-Term Borrowings | Scheduled annual maturities for the long-term borrowings for the years following December 31, 2016 are as follows: (in thousands) 2017 $ 179,147 2018 61,800 2019 43,557 2020 49,339 2021 47,665 Later years 157,986 Total $ 539,494 |
Schedule of Weighted Average Interest Rate on Subordinated Notes | The weighted average interest rate on the subordinated notes are presented in the following table: December 31 2016 2015 2014 Subordinated notes weighted average interest rate 2.71 % 2.73 % 2.70 % |
Junior Subordinated Debt Trusts | The following table provides information relating to the Trusts as of December 31, 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 2.61 % Variable; LIBOR + 165 basis points (bps) Omega Financial Capital Trust I 26,000 1,114 26,435 10/18/34 3.07 % Variable; LIBOR + 219 bps Total $ 47,500 $ 1,779 $ 48,600 |
Derivative Instruments and He44
Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 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 our derivative assets and derivative liabilities: December 31 2016 2015 Notional Amount Fair Value Notional Amount Fair Value (in thousands) Asset Liability Asset Liability Gross Derivatives Subject to master netting arrangements: Interest rate contracts – designated $ 450,000 $ 9,256 $ 1,171 $ 250,000 $ 3,178 $ 962 Interest rate swaps – not designated 1,689,157 12,720 34,046 1,262,964 1 50,491 Equity contracts – not designated 1,180 61 — 1,180 18 — Total subject to master netting arrangements 2,140,337 22,037 35,217 1,514,144 3,197 51,453 Not subject to master netting arrangements: Interest rate swaps – not designated 1,689,157 32,170 11,866 1,262,964 49,998 1 Credit risk contracts – not designated 174,538 13 123 114,753 7 133 Equity contracts – not designated 1,180 — 61 1,180 — 18 Total not subject to master netting arrangements 1,864,875 32,183 12,050 1,378,897 50,005 152 Total $ 4,005,212 $ 54,220 $ 47,267 $ 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): December 31 2016 2015 (in thousands) Total Net of Total Net of Reclassified from AOCI to interest income $ 2,659 $ 1,728 $ 3,248 $ 2,111 Reclassified from AOCI to interest expense 703 457 292 189 |
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 Gross Net Amount December 31, 2016 Derivative Assets Subject to master netting arrangements: Interest rate contracts Designated $ 9,256 — $ 9,256 Not designated 12,720 — 12,720 Equity contracts – not designated 61 — 61 Not subject to master netting arrangements: Interest rate contracts – not designated 32,170 — 32,170 Credit contracts – not designated 13 — 13 Total derivative assets $ 54,220 — $ 54,220 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 |
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 Gross Net Amount December 31, 2016 Derivative Liabilities Subject to master netting arrangements: Interest rate contracts Designated $ 1,171 — $ 1,171 Not designated 34,046 — 34,046 Not subject to master netting arrangements: Interest rate contracts – not designated 11,866 — 11,866 Credit contracts – not designated 123 — 123 Equity contracts – not designated 61 — 61 Total derivative liabilities $ 47,267 — $ 47,267 December 31, 2015 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 |
Effect of Derivative Financial Instruments on Income Statement | The following table presents the effect of certain derivative financial instruments on our income statement: Income Statement Location Year Ended (in thousands) 2016 2015 Interest Rate Contracts Interest income – loans and leases $ 2,659 $ 3,248 Interest Rate Contracts Interest expense – short-term borrowings 703 292 Interest Rate Swaps Other income (529 ) (451 ) Credit Risk Contracts Other income 16 (126 ) |
Interest Rate Contracts [Member] | |
Summary of Key Data Related to Interest Rate | Following is a summary of key data related to interest rate contracts: December 31 2016 2015 (in thousands) Notional amount $ 450,000 $ 250,000 Fair value included in other assets 9,256 3,178 Fair value included in other liabilities 1,171 962 |
Interest Rate Swap [Member] | |
Summary of Key Data Related to Interest Rate | Following is a summary of key data related to interest rate swaps: December 31 2016 2015 (in thousands) Notional amount $ 3,378,314 $ 2,525,928 Fair value included in other assets 44,890 49,999 Fair value included in other liabilities 45,912 50,492 |
Collateral Held By Counterparty [Member] | |
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 Balance Sheet (in thousands) Net Amount the Balance Sheet Financial Cash Net Amount December 31, 2016 Derivative Assets Interest rate contracts: Designated $ 9,256 $ 843 $ 8,413 $ — Not designated 12,720 474 12,132 114 Equity contracts – not designated 61 61 — — Total $ 22,037 $ 1,378 $ 20,545 $ 114 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 | 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 Balance Sheet (in thousands) Net Amount the Balance Sheet Financial Cash Net Amount December 31, 2016 Derivative Liabilities Interest rate contracts: Designated $ 1,171 $ 1,171 $ — $ — Not designated 34,046 15,490 17,651 905 Total $ 35,217 $ 16,661 $ 17,651 $ 905 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 |
Commitments, Credit Risk and 45
Commitments, Credit Risk and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Off-Balance Sheet Credit Risk Information | Following is a summary of off-balance December 31 2016 2015 (in thousands) Commitments to extend credit $ 4,424,834 $ 3,781,719 Standby letters of credit 117,732 92,979 |
Stock Incentive Plans (Tables)
Stock Incentive Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Issuance of Restricted Stock Awards and Aggregate Weighted Average Grant Date Fair Values | The following table details our issuance of restricted stock awards and the aggregate weighted average grant date fair values under these plans for the years indicated. As of December 31, 2016, we had available up to 3,238,464 shares of common stock to issue under these Plans. (dollars in thousands) 2016 2015 2014 Restricted stock awards 574,125 664,337 387,165 Weighted average grant date fair values $ 7,383 $ 8,802 $ 5,227 |
Summary of Information Concerning Restricted Stock Awards | The following table summarizes certain information concerning restricted stock awards: 2016 Weighted Average Grant 2015 Weighted Average Grant 2014 Weighted Average Grant Unvested shares outstanding at beginning of year 1,548,444 $ 12.85 1,354,093 $ 11.86 1,729,033 $ 10.23 Granted 574,125 12.86 664,337 13.25 387,165 13.50 Net adjustment due to performance 72,070 11.79 13,115 19.74 (36,600 ) 12.01 Vested (384,704 ) 12.11 (484,010 ) 10.70 (707,074 ) 8.81 Forfeited (31,394 ) 13.02 (41,130 ) 13.24 (65,399 ) 11.72 Dividend reinvestment 57,822 13.08 42,039 11.86 46,968 12.66 Unvested shares outstanding at end of year 1,836,363 12.97 1,548,444 12.85 1,354,093 11.86 |
Schedule of Certain Information Related to Restricted Stock Awards | The following table provides certain information related to restricted stock awards: Year Ended December 31 2016 2015 2014 (in thousands) Stock-based compensation expense $ 7,066 $ 4,461 $ 3,584 Tax benefit associated with compensation expense 2,473 1,561 1,254 Fair value of awards vested 4,587 6,070 10,713 |
Components of Restricted Stock Awards | The components of the restricted stock awards as of December 31, 2016 are as follows: (dollars in thousands) Service- Awards Performance- Based Awards Total Unvested restricted stock awards 839,106 997,257 1,836,363 Unrecognized compensation expense $ 4,620 $ 5,279 $ 9,899 Intrinsic value $ 13,451 $ 15,986 $ 29,437 Weighted average remaining life (in years) 1.87 1.97 1.92 |
Summary of Activity Related to Stock Options Awards | The following table summarizes the activity related to stock options during the periods indicated: 2016 Weighted Average Price per Share 2015 Weighted Average Price per Share 2014 Weighted Average Price per Share Options outstanding at beginning of year 435,340 $ 8.86 568,834 $ 8.86 533,524 $ 11.50 Assumed from acquisitions 1,707,036 7.83 — — 805,507 7.39 Exercised (1,128,075 ) 7.18 (93,822 ) 5.94 (690,973 ) 7.75 Forfeited (121,769 ) 9.33 (39,672 ) 15.66 (79,224 ) 21.40 Options outstanding and exercisable at end of year 892,532 8.95 435,340 8.86 568,834 8.86 |
Summary of Stock Options Outstanding | The following table summarizes information about stock options outstanding at December 31, 2016: Range of Exercise Options and Exercisable Weighted Average Weighted Average $3.45 - $5.18 195,134 3.29 $ 4.88 $5.19 - $7.78 140,179 3.65 6.82 $7.79 - $11.68 337,780 4.91 10.06 $11.69 - $13.54 219,439 0.73 12.23 892,532 |
Summary of Stock Options Exercised | The following table summarizes certain information relating to stock options exercised: Year Ended December 31 2016 2015 2014 (in thousands) Proceeds from stock options exercised $ 7,816 $ 557 $ 3,292 Tax benefit recognized from stock options exercised 1,862 130 808 Intrinsic value of stock options exercised 6,577 693 3,289 |
Retirement Plans (Tables)
Retirement Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Accumulated Benefit Obligation, Change in Benefit Obligation, Change in Plan Assets, Plans' Funded Status and Amount Included in Consolidated Balance Sheets | The following tables provide information relating to the accumulated benefit obligation, change in benefit obligation, change in plan assets, the plans’ funded status and the amount included in the consolidated balance sheets for the qualified and non-qualified December 31 2016 2015 (in thousands) Accumulated benefit obligation $ 152,586 $ 150,754 Projected benefit obligation at beginning of year $ 151,015 $ 156,924 Service cost (15 ) (14 ) Interest cost 6,129 5,897 Actuarial loss (gain) 3,723 (3,381 ) Benefits paid (7,936 ) (8,411 ) Projected benefit obligation at end of year $ 152,916 $ 151,015 Fair value of plan assets at beginning of year $ 132,762 $ 140,140 Actual return on plan assets 10,787 (331 ) Corporation contribution 1,345 1,364 Benefits paid (7,936 ) (8,411 ) Fair value of plan assets at end of year $ 136,958 $ 132,762 Funded status of plans $ (15,958 ) $ (18,253 ) |
Schedule of Actuarial Assumptions Used in Determination of Projected Benefit Obligation | Actuarial assumptions used in the determination of the projected benefit obligation in the Plans are as follows: Assumptions at December 31 2016 2015 Weighted average discount rate 3.96 % 4.19 % Rates of average increase in compensation levels 3.50 % 3.50 % |
Schedule of Net Periodic Pension Cost and Other Comprehensive Income | The net periodic pension cost and other comprehensive income for the Plans included the following components: Year Ended December 31 2016 2015 2014 (in thousands) Service cost $ (15 ) $ (14 ) $ 62 Interest cost 6,129 5,897 6,411 Expected return on plan assets (9,413 ) (9,964 ) (9,946 ) Transition amount amortization — — (21 ) Prior service credit amortization 7 7 7 Actuarial loss amortization 2,383 2,112 1,367 Net periodic pension income (909 ) (1,962 ) (2,120 ) Other changes in plan assets and benefit obligations recognized in other comprehensive income: Current year actuarial loss (gain) 2,349 6,914 21,586 Amortization of actuarial loss (2,383 ) (2,112 ) (1,367 ) Amortization of prior service credit (7 ) (7 ) (7 ) Amortization of transition asset — — 21 Total amount recognized in other comprehensive income (41 ) 4,795 20,233 Total amount recognized in net periodic benefit cost and other comprehensive income $ (950 ) $ 2,833 $ 18,113 |
Schedule of Actuarial Assumptions Used in Determination of Net Periodic Pension Cost | The plans have an actuarial measurement date of December 31. Actuarial assumptions used in the determination of the net periodic pension cost in the Plans are as follows: Assumptions for the Year Ended December 31 2016 2015 2014 Weighted average discount rate 4.19 % 3.85 % 4.67 % Rates of increase in compensation levels 3.50 % 3.50 % 4.00 % Expected long-term rate of return on assets 7.25 % 7.25 % 7.25 % |
Schedule of Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for Qualified and Non-Qualified Pension Plans | As of December 31, 2016 and 2015, the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the qualified and non-qualified (in thousands) Qualified Pension Plans Non-Qualified Pension Plans December 31 2016 2015 2016 2015 Projected benefit obligation $ 132,902 $ 130,797 $ 20,014 $ 20,218 Accumulated benefit obligation 132,902 130,797 19,684 19,957 Fair value of plan assets 136,958 132,762 — — |
Schedule of Impact of Changes in Discount Rate, Return on Plan Assets on Pension Expense | The impact of changes in the discount rate and expected long-term rate of return on plan assets would have had the following effects on 2016 pension expense: (in thousands) Estimated 0.5% decrease in the discount rate $ (24 ) 0.5% decrease in the expected long-term rate of return on plan assets 649 |
Schedule of Estimated Future Cash Flows | The following table provides information regarding estimated future cash flows relating to the Plans at December 31, 2016 (in thousands): Expected employer contributions: 2017 $ 1,356 Expected benefit payments: 2017 7,631 2018 8,305 2019 8,532 2020 8,739 2021 9,011 2022 – 2026 46,689 |
Schedule of Contribution Expense | Our contribution expense is presented in the following table: Year Ended December 31 2016 2015 2014 (in thousands) 401(k) contribution expense $ 9,069 $ 8,055 $ 10,188 |
Schedule of Asset Allocations for Pension Plans | The following table presents asset allocations for our pension plans as of December 31, 2016 and 2015, and the target allocation for 2017, by asset category: Target Percentage of Plan Assets December 31 2017 2016 2015 Asset Category Equity securities 45 - 65 % 61 % 57 % Debt securities 30 - 50 35 39 Cash equivalents 0 - 10 4 4 |
Schedule of Fair Values of Pension Plan Assets by Asset Category | The fair values of our pension plan assets by asset category are as follows: (in thousands) Level 1 Level 2 Level 3 Total December 31, 2016 Asset Class Cash $ 5,125 $ — — $ 5,125 Equity securities: F.N.B. Corporation 9,219 — — 9,219 Other large-cap 2,999 — — 2,999 Other large-cap 36,570 — — 36,570 International companies 718 — — 718 Other equity 596 — — 596 Mutual fund equity investments: U.S. equity index funds: U.S. large-cap 559 — — 559 U.S. small-cap 3,035 — — 3,035 U.S. mid-cap 3,795 — — 3,795 Non-U.S. 9,555 — — 9,555 U.S. equity funds: U.S. mid-cap 7,615 — — 7,615 U.S. small-cap 3,173 — — 3,173 Other 5,928 — — 5,928 Fixed income securities: U.S. government agencies — 36,891 — 36,891 Fixed income mutual funds: U.S. investment-grade fixed income securities 10,766 — — 10,766 Non-U.S. 414 — — 414 Total $ 100,067 $ 36,891 — $ 136,958 December 31, 2015 Asset Class Cash $ 4,847 $ — — $ 4,847 Equity securities: F.N.B. Corporation 7,672 — — 7,672 Other large-cap 2,541 — — 2,541 Other large-cap 33,387 — — 33,387 International companies 521 — — 521 Other equity 596 — — 596 Mutual fund equity investments: U.S. equity index funds: U.S. large-cap 511 — — 511 U.S. small-cap 2,607 — — 2,607 U.S. mid-cap 3,464 — — 3,464 Non-U.S. 9,613 — — 9,613 U.S. equity funds: U.S. mid-cap 6,989 — — 6,989 U.S. small-cap 2,679 — — 2,679 Other 5,540 — — 5,540 Fixed income securities: U.S. government agencies — 40,735 — 40,735 Fixed income mutual funds: U.S. investment-grade fixed income securities 10,648 — — 10,648 Non-U.S. 412 — — 412 Total $ 92,027 $ 40,735 — $ 132,762 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Summary of Income Tax Expense Allocated Based on Separate Tax Return Basis | Income tax expense, allocated based on a separate tax return basis, consists of the following: Year Ended December 31 2016 2015 2014 (in thousands) Current income taxes: Federal taxes $ 57,894 $ 69,572 $ 18,111 State taxes 2,329 989 396 Total current income taxes 60,223 70,561 18,507 Deferred income taxes: Federal taxes 14,983 63 44,113 State taxes 291 (631 ) — Total deferred income taxes 15,274 (568 ) 44,113 Total income taxes $ 75,497 $ 69,993 $ 62,620 |
Income Tax Expense Related to Gains on Sale of Securities | Income tax expense related to gains on the sale of securities is presented in the following table: Year Ended December 31 2016 2015 2014 (in thousands) Income tax expense related to gains on sale of securities $ 249 $ 288 $ 4,101 |
Summary of Deferred Tax Assets and Liabilities from Tax Effects of Temporary Differences | The following table presents the tax effects of temporary differences that give rise to deferred tax assets and liabilities: December 31 2016 2015 (in thousands) Deferred tax assets: Allowance for credit losses $ 56,090 $ 50,414 Discount on acquired loans 48,978 28,503 Net operating loss/tax credit carryforwards 17,753 16,487 Deferred compensation 12,236 8,515 Securities impairments — 252 Pension and other defined benefit plans 7,713 8,539 Net unrealized securities losses 6,972 1,301 Other 11,264 8,020 Total 161,006 122,031 Valuation allowance (18,945 ) (17,179 ) Total deferred tax assets 142,061 104,852 Deferred tax liabilities: Loan costs (2,222 ) (2,966 ) Depreciation (12,392 ) (10,836 ) Prepaid expenses (682 ) (628 ) Amortizable intangibles (18,506 ) (12,940 ) Lease financing (5,538 ) (6,763 ) Debt discharge income deferral (1,361 ) (2,042 ) Originated mortgage servicing rights (748 ) (1,238 ) Fair value adjustments on securities (86 ) — Other (1,253 ) (1,928 ) Total deferred tax liabilities (42,788 ) (39,341 ) Net deferred tax assets $ 99,273 $ 65,511 |
Summary of Reconciliation Between the Statutory Tax Rate and Actual Effective Tax Rate | The following table provides a reconciliation between the statutory tax rate and the actual effective tax rate: Year Ended December 31 2016 2015 2014 Statutory tax rate 35.0 % 35.0 % 35.0 % State taxes, net of federal benefit 0.7 0.8 0.1 Valuation allowance reversal — (0.8 ) — Tax-exempt (2.9 ) (2.2 ) (1.8 ) Cash surrender value of life insurance (1.5 ) (1.3 ) (1.3 ) Tax credits (0.9 ) (1.1 ) (1.4 ) Other items 0.2 0.1 (0.3 ) Actual effective tax rate 30.6 % 30.5 % 30.3 % |
Summary of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits (excluding interest and the federal income tax benefit of unrecognized state tax benefits) is as follows: Year Ended December 31 2016 2015 (in thousands) Balance at beginning of year $ 455 $ 401 Additions based on tax positions related to current year 163 134 Additions based on tax positions of prior year — — Reductions for tax positions of prior years — — Reductions due to expiration of statute of limitations (76 ) (80 ) Balance at end of year $ 542 $ 455 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
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 Gains on Derivative Instruments Unrecognized Postretirement Obligations Total Year Ended December 31, 2016 Balance at beginning of period $ (3,873 ) $ 1,440 $ (48,700 ) $ (51,133 ) Other comprehensive income (loss) before reclassifications (13,886 ) 5,086 299 (8,501 ) Amounts reclassified from AOCI (463 ) (1,272 ) — (1,735 ) Net current period other comprehensive income (loss) (14,349 ) 3,814 299 (10,236 ) Balance at end of period $ (18,222 ) $ 5,254 $ (48,401 ) $ (61,369 ) |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 12 Months Ended |
Dec. 31, 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: Year Ended December 31 2016 2015 2014 (dollars in thousands, except per share data) Net income $ 170,891 $ 159,649 $ 144,050 Less: Preferred stock dividends 8,041 8,041 8,352 Net income available to common stockholders $ 162,850 $ 151,608 $ 135,698 Basic weighted average common shares outstanding 206,244,498 174,971,785 167,347,906 Net effect of dilutive stock options, warrants and restricted stock 1,524,111 1,367,168 1,730,939 Diluted weighted average common shares outstanding 207,768,609 176,338,953 169,078,845 Earnings per common share: Basic $ 0.79 $ 0.87 $ 0.81 Diluted $ 0.78 $ 0.86 $ 0.80 |
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: Year Ended December 31 2016 2015 2014 Average shares excluded from the diluted earnings per common share calculation 9,980 18,167 35,442 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Schedule of Capital Ratios | Following are the capital ratios for FNB and FNBPA: Actual Well-Capitalized Requirements Minimum Capital Requirements (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2016 F.N.B. Corporation: Total capital $ 1,917,386 12.0 % $ 1,597,951 10.0 % $ 1,378,232 8.6 % Tier 1 capital 1,582,251 9.9 1,278,360 8.0 1,058,642 6.6 Common equity tier 1 1,475,369 9.2 1,038,668 6.5 818,950 5.1 Leverage 1,582,251 7.7 1,027,831 5.0 822,265 4.0 FNBPA: Total capital 1,768,561 11.1 1,588,989 10.0 1,370,503 8.6 Tier 1 capital 1,614,167 10.2 1,271,191 8.0 1,052,705 6.6 Common equity tier 1 1,534,167 9.7 1,032,843 6.5 814,357 5.1 Leverage 1,614,167 7.9 1,019,034 5.0 815,227 4.0 As of December 31, 2015 F.N.B. Corporation: Total capital $ 1,629,270 12.8 % $ 1,275,939 10.0 % $ 1,020,751 8.0 % Tier 1 capital 1,321,972 10.4 1,020,751 8.0 765,563 6.0 Common equity tier 1 1,200,715 9.4 829,360 6.5 574,172 4.5 Leverage 1,321,972 8.1 811,553 5.0 649,243 4.0 FNBPA: Total capital 1,426,284 11.3 1,265,990 10.0 1,012,792 8.0 Tier 1 capital 1,289,965 10.2 1,012,792 8.0 759,594 6.0 Common equity tier 1 1,209,965 9.6 822,893 6.5 569,695 4.5 Leverage 1,289,965 8.0 803,041 5.0 642,433 4.0 |
Cash Flow Information (Tables)
Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
Summary of Cash Flow Information | Following is a summary of cash flow information: Year Ended December 31 2016 2015 2014 (in thousands) Interest paid on deposits and other borrowings $ 67,296 $ 47,805 $ 43,057 Income taxes paid 60,000 61,500 27,000 Transfers of loans to other real estate owned 14,592 9,628 16,535 Transfers of other real estate owned to loans 441 372 390 |
Business Segments (Tables)
Business Segments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Financial Information for Segments of FNB | The following tables provide financial information for these segments of FNB. The information provided under the caption “Parent and Other” represents operations not considered to be reportable segments and/or general operating expenses of FNB, and includes the parent company, other non-bank (in thousands) Community Wealth Manage- ment Insurance Consumer Parent and Consolidated At or for the Year Ended December 31, 2016 Interest income $ 629,700 $ — $ 84 $ 40,922 $ 8,257 $ 678,963 Interest expense 56,182 — — 3,759 7,510 67,451 Net interest income 573,518 — 84 37,163 747 611,512 Provision for credit losses 47,386 — — 6,706 1,660 55,752 Non-interest 151,149 35,283 14,750 3,002 (2,423 ) 201,761 Non-interest 435,089 27,201 12,965 21,662 3,006 499,923 Amortization of intangibles 10,526 259 425 — — 11,210 Income taxes (benefit) 70,756 2,845 532 4,488 (3,124 ) 75,497 Net income (loss) 160,910 4,978 912 7,309 (3,218 ) 170,891 Total assets 21,659,634 19,619 22,053 193,349 (49,838 ) 21,844,817 Total intangibles 1,075,118 10,189 12,340 1,809 — 1,099,456 At or for the Year Ended December 31, 2015 Interest income $ 500,030 $ — $ 89 $ 39,868 $ 6,808 $ 546,795 Interest expense 41,227 — — 3,518 3,828 48,573 Net interest income 458,803 — 89 36,350 2,980 498,222 Provision for credit losses 32,125 — — 7,396 920 40,441 Non-interest 116,141 35,246 13,052 2,926 (4,955 ) 162,410 Non-interest 319,923 27,264 13,891 20,189 977 382,244 Amortization of intangibles 7,544 273 488 — — 8,305 Income taxes (benefit) 65,071 2,803 (412 ) 4,709 (2,178 ) 69,993 Net income (loss) 150,281 4,906 (826 ) 6,982 (1,694 ) 159,649 Total assets 17,374,384 20,753 22,207 195,048 (54,730 ) 17,557,662 Total intangibles 853,551 10,447 12,923 1,809 — 878,730 At or for the Year Ended December 31, 2014 Interest income $ 463,376 $ — $ 98 $ 38,914 $ 6,595 $ 508,983 Interest expense 36,318 — — 3,352 3,016 42,686 Net interest income 427,058 — 98 35,562 3,579 466,297 Provision for credit losses 30,872 — — 6,920 856 38,648 Non-interest 115,858 31,497 13,598 2,919 (5,598 ) 158,274 Non-interest 311,834 25,338 11,558 19,692 1,114 369,536 Amortization of intangibles 9,025 288 404 — — 9,717 Income taxes (benefit) 57,634 2,135 625 4,430 (2,204 ) 62,620 Net income (loss) 133,551 3,736 1,109 7,439 (1,785 ) 144,050 Total assets 15,944,040 20,877 19,222 187,796 (44,845 ) 16,127,090 Total intangibles 857,066 10,720 10,122 1,809 — 879,717 (1) Excludes amortization of intangibles, which is presented separately. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 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 December 31, 2016 Assets Measured at Fair Value Debt securities available for sale U.S. Treasury $ — $ 29,953 $ — $ 29,953 U.S. government-sponsored entities — 365,098 — 365,098 Residential mortgage-backed securities Agency mortgage-backed securities — 1,252,798 — 1,252,798 Agency collateralized mortgage obligations — 535,974 — 535,974 Non-agency — 3 894 897 Commercial mortgage-backed securities — 1,291 — 1,291 States of the U.S. and political subdivisions — 35,849 — 35,849 Other debt securities — 9,487 — 9,487 Total debt securities available for sale — 2,230,453 894 2,231,347 Equity securities available for sale Financial services industry — — 492 492 Insurance services industry 148 — — 148 Total equity securities available for sale 148 — 492 640 Total securities available for sale 148 2,230,453 1,386 2,231,987 Derivative financial instruments Trading — 44,951 — 44,951 Not for trading — 9,269 — 9,269 Total derivative financial instruments — 54,220 — 54,220 Total assets measured at fair value on a recurring basis $ 148 $ 2,284,673 $ 1,386 $ 2,286,207 Liabilities Measured at Fair Value Derivative financial instruments Trading — $ 45,973 — $ 45,973 Not for trading — 1,294 — 1,294 Total derivative financial instruments — 47,267 — 47,267 Total liabilities measured at fair value on a recurring basis — $ 47,267 — $ 47,267 (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 — 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 derivative financial instruments — 51,605 — 51,605 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 we have utilized Level 3 inputs to determine fair value: (in thousands) Equity Residential Non-Agency Collateralized Mortgage Obligations Total Year Ended December 31, 2016 Balance at beginning of period $ 439 $ 1,184 $ 1,623 Total gains (losses) – realized/unrealized: Included in earnings — — — Included in other comprehensive income 53 (7 ) 46 Accretion included in earnings — 6 6 Purchases, issuances, sales and settlements: Purchases — — — Issuances — — — Sales/redemptions — — — Settlements — (289 ) (289 ) Transfers from Level 3 — — — Transfers into Level 3 — — — Balance at end of period $ 492 $ 894 $ 1,386 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 (in thousands) Level 1 Level 2 Level 3 Total December 31, 2016 Impaired loans — $ 500 $ 5,883 $ 6,383 Other real estate owned — 11,017 3,181 14,198 December 31, 2015 Impaired loans — $ 124 $ 3,704 $ 3,828 Other real estate owned — 5,705 2,126 7,831 |
Fair Values of Financial Instruments | The fair values of our financial instruments are as follows: Fair Value Measurements (in thousands) Carrying Fair Value Level 1 Level 2 Level 3 December 31, 2016 Financial Assets Cash and cash equivalents $ 371,407 $ 371,407 $ 371,407 $ — $ — Securities available for sale 2,231,987 2,231,987 148 2,230,453 1,386 Securities held to maturity 2,337,342 2,294,777 — 2,293,091 1,686 Net loans and leases, including loans held for sale 14,750,792 14,446,274 — — 14,464,274 Derivative assets 54,220 54,220 — 54,220 — Accrued interest receivable 58,712 58,712 58,712 — — Financial Liabilities Deposits 16,065,647 16,045,323 13,489,152 2,556,171 — Short-term borrowings 2,503,010 2,503,277 2,503,277 — — Long-term borrowings 539,494 536,088 — — 536,088 Derivative liabilities 47,267 47,267 — 47,267 — Accrued interest payable 7,612 7,612 7,612 — — 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 — — |
Parent Company Financial Stat55
Parent Company Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Consolidated Balance Sheet of Parent Company Only | Balance Sheets (in thousands) December 31 2016 2015 Assets Cash and cash equivalents $ 164,276 $ 227,554 Securities available for sale 492 1,168 Other assets 17,405 17,206 Investment in bank subsidiary 2,598,520 2,073,352 Investments in and advances to non-bank 269,998 260,341 Total Assets $ 3,050,691 $ 2,579,621 Liabilities Other liabilities $ 26,063 $ 26,831 Advances from affiliates 295,897 289,540 Long-term borrowings 147,916 157,777 Subordinated notes: Short-term 8,172 8,216 Long-term 1,026 1,075 Total Liabilities 479,074 483,439 Stockholders’ Equity 2,571,617 2,096,182 Total Liabilities and Stockholders’ Equity $ 3,050,691 $ 2,579,621 |
Statements of Income of Parent Company Only | Statements of Income (in thousands) Year Ended December 31 2016 2015 2014 Income Dividend income from subsidiaries: Bank $ 108,954 $ 87,580 $ 85,000 Non-bank 8,525 7,863 9,900 117,479 95,443 94,900 Interest income 5,041 4,845 4,856 Other income 2,799 1,053 1,920 Total Income 125,319 101,341 101,676 Expenses Interest expense 13,609 9,526 8,503 Other expenses 10,377 8,993 9,252 Total Expenses 23,986 18,519 17,755 Income Before Taxes and Equity in Undistributed Income of Subsidiaries 101,333 82,822 83,921 Income tax benefit 6,352 5,088 4,498 107,685 87,910 88,419 Equity in undistributed income (loss) of subsidiaries: Bank 60,924 71,581 55,742 Non-bank 2,282 158 (111 ) Net Income $ 170,891 $ 159,649 $ 144,050 |
Statements of Cash Flows of Parent Company Only | Statements of Cash Flows (in thousands) Year Ended December 31 2016 2015 2014 Operating Activities Net income $ 170,891 $ 159,649 $ 144,050 Adjustments to reconcile net income to net cash flows from operating activities: Undistributed earnings from subsidiaries (63,206 ) (71,739 ) (55,631 ) Other, net (2,530 ) 680 (637 ) Net cash flows provided by operating activities 105,155 88,590 87,782 Investing Activities Proceeds from sale of securities available for sale 815 — 934 Net (increase) decrease in advances to subsidiaries (6,263 ) 3,285 2,018 Payment for further investment in subsidiaries (71,050 ) (9,060 ) (2,877 ) Net cash received in business combinations 1,089 — 5,594 Net cash flows (used in) provided by investing activities (75,409 ) (5,775 ) 5,669 Financing Activities Net decrease in advance from affiliate 6,356 (2,797 ) (1,908 ) Net decrease in short-term borrowings (44 ) (135 ) (88 ) Decrease in long-term debt (10,291 ) (650 ) (34,865 ) Increase in long-term debt 381 98,794 821 Net proceeds from issuance of common stock 18,472 12,731 12,857 Tax benefit of stock-based compensation 1,813 28 2,714 Cash dividends paid: Preferred stock (8,041 ) (8,041 ) (8,352 ) Common stock (101,670 ) (84,511 ) (81,220 ) Net cash flows (used in) provided by financing activities (93,024 ) 15,419 (110,041 ) Net (Decrease) Increase in Cash and Cash Equivalents (63,278 ) 98,234 (16,590 ) Cash and cash equivalents at beginning of year 227,554 129,320 145,910 Cash and Cash Equivalents at End of Year $ 164,276 $ 227,554 $ 129,320 Cash paid during the year for: Interest $ 13,620 $ 8,309 $ 9,112 |
Nature of Operations (Additiona
Nature of Operations (Additional Information) (Detail) | 12 Months Ended |
Dec. 31, 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 | 324 |
Summary of Significant Accoun57
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Summary Of Significant Accounting Policies [Line Items] | |
Minimum corporation reserves for commercial loan | $ 500,000 |
Number of days past due for loan to be in default | 90 days |
Core deposit intangibles amortization period, years | 10 years |
Largest amount recognized in the financial statement of tax benefit threshold, minimum | Greater than 50% |
Installment Loans [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Number of days placed on non-accrual | 120 days |
Residential Mortgages [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Number of days placed on non-accrual | 180 days |
Commercial Loans [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Number of days placed on non-accrual | 90 days |
Minimum [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Useful life of the asset, years | 3 years |
Estimated useful life of intangibles, years | 8 years |
Maximum [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Useful life of the asset, years | 40 years |
Estimated useful life of intangibles, years | 13 years |
New Accounting Standards - Addi
New Accounting Standards - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Percentage of out-of-scope interest income and non-interest income | 80.00% |
Mergers and Acquisitions - Addi
Mergers and Acquisitions - Additional Information (Detail) | Dec. 30, 2016USD ($)$ / sharesshares | Jul. 20, 2016USD ($) | Apr. 22, 2016USD ($)Branch | Feb. 13, 2016USD ($)shares | Sep. 18, 2015USD ($)Branch | Jul. 18, 2015USD ($) | Sep. 19, 2014USD ($)shares | Feb. 15, 2014USD ($)shares | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Business Acquisition [Line Items] | ||||||||||||
Goodwill recorded as a result of merger | $ 1,032,129,000 | $ 833,086,000 | $ 832,213,000 | |||||||||
Merger-related expenses | 37,439,000 | 3,033,000 | $ 9,611,000 | |||||||||
Pittsburgh [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Goodwill recorded as a result of merger | $ 1,800,000 | |||||||||||
Payments to acquire businesses, cash paid | 3,400,000 | |||||||||||
Other intangibles recorded as a result of merger | 1,400,000 | |||||||||||
Other assets recorded as a result of merger | $ 241,000 | |||||||||||
Bank of America Branches [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Number of branch-banking locations acquired | Branch | 5 | |||||||||||
Deposits acquired as a result of merger | $ 154,619,000 | |||||||||||
Goodwill recorded as a result of merger | [1] | 1,485,000 | ||||||||||
Core deposit intangibles recorded as result of the acquisition | 3,000,000 | |||||||||||
Assets acquired as a result of merger | 153,134,000 | |||||||||||
Cash acquired as a result of merger | 148,159,000 | |||||||||||
Loans acquired as a result of merger | 842,000 | |||||||||||
Fixed and other assets acquired as a result of merger | $ 2,000,000 | |||||||||||
Percentage of deposit premium paid | 1.96% | |||||||||||
OBA Financial Services, Inc. (OBA) [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Deposits acquired as a result of merger | $ 295,922,000 | |||||||||||
Goodwill recorded as a result of merger | [1] | 20,107,000 | ||||||||||
Core deposit intangibles recorded as result of the acquisition | 4,304,000 | |||||||||||
Assets acquired as a result of merger | 390,160,000 | |||||||||||
Cash acquired as a result of merger | 32,913,000 | |||||||||||
Loans acquired as a result of merger | 291,393,000 | |||||||||||
Value of acquisition | $ 85,554,000 | |||||||||||
Common shares issued | shares | 7,170,037 | |||||||||||
Common shares acquired | shares | 4,025,895 | |||||||||||
BCSB Bancorp, Inc. (BCSB) [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Deposits acquired as a result of merger | $ 532,197,000 | |||||||||||
Goodwill recorded as a result of merger | [1] | 42,452,000 | ||||||||||
Core deposit intangibles recorded as result of the acquisition | 6,591,000 | |||||||||||
Assets acquired as a result of merger | 596,122,000 | |||||||||||
Cash acquired as a result of merger | 26,980,000 | |||||||||||
Loans acquired as a result of merger | 304,932,000 | |||||||||||
Value of acquisition | $ 80,547,000 | |||||||||||
Common shares issued | shares | 6,730,597 | |||||||||||
Common shares acquired | shares | 3,235,961 | |||||||||||
Metro Bancorp Inc [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Deposits acquired as a result of merger | $ 2,328,238,000 | |||||||||||
Goodwill recorded as a result of merger | [1] | 185,054,000 | ||||||||||
Core deposit intangibles recorded as result of the acquisition | 24,163,000 | |||||||||||
Assets acquired as a result of merger | 2,783,665,000 | |||||||||||
Cash acquired as a result of merger | 46,890,000 | |||||||||||
Loans acquired as a result of merger | 1,862,447,000 | |||||||||||
Value of acquisition | $ 404,207,000 | |||||||||||
Common shares issued | shares | 34,041,181 | |||||||||||
Common shares acquired | shares | 14,345,319 | |||||||||||
Merger-related expenses | 31,000,000 | $ 1,300,000 | ||||||||||
Issuance costs incurred in connection with acquisition | $ 700,000 | |||||||||||
Metro Bancorp Inc [Member] | Merger - Related Expenses [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Severance costs | 40.40% | |||||||||||
Fifth Third Bank Branches [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Number of branch-banking locations acquired | Branch | 17 | |||||||||||
Deposits acquired as a result of merger | $ 302,529,000 | |||||||||||
Goodwill recorded as a result of merger | [1] | 14,146,000 | ||||||||||
Core deposit intangibles recorded as result of the acquisition | 4,129,000 | |||||||||||
Assets acquired as a result of merger | 312,424,000 | |||||||||||
Cash acquired as a result of merger | 198,872,000 | |||||||||||
Loans acquired as a result of merger | 95,354,000 | |||||||||||
Fixed and other assets acquired as a result of merger | $ 14,100,000 | |||||||||||
Percentage of deposit premium paid | 1.97% | |||||||||||
Yadkin Financial Corporation (YDKN) [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Assets acquired as a result of merger | $ 7,500,000,000 | |||||||||||
Value of acquisition | $ 1,800,000,000 | $ 1,400,000,000 | ||||||||||
Common shares issued | shares | 111,700,000 | |||||||||||
Share Price | $ / shares | $ 16.03 | |||||||||||
Number of shares entitled to receive as per merger agreement, Ratio | 2.16 | |||||||||||
Common shares to be acquired, shares | shares | 51,700,000 | |||||||||||
[1] | All of the goodwill for these transactions has been recorded in the Community Banking segment. |
Mergers and Acquisitions - Busi
Mergers and Acquisitions - Business Acquisition Pro Forma Information (Detail) $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($)$ / shares | |
Business Acquisition Pro Forma Information [Line Items] | |
Revenue (net interest income and non-interest income) | $ 790,391 |
Net income | 171,850 |
Net income available to common stockholders | $ 163,809 |
Earnings per common share - basic | $ / shares | $ 0.78 |
Earnings per common share - diluted | $ / shares | $ 0.78 |
F.N.B. Corporation [Member] | |
Business Acquisition Pro Forma Information [Line Items] | |
Revenue (net interest income and non-interest income) | $ 660,632 |
Net income | 159,649 |
Net income available to common stockholders | $ 151,608 |
Earnings per common share - basic | $ / shares | $ 0.87 |
Earnings per common share - diluted | $ / shares | $ 0.86 |
Metro Bancorp Inc [Member] | |
Business Acquisition Pro Forma Information [Line Items] | |
Revenue (net interest income and non-interest income) | $ 134,003 |
Net income | 20,215 |
Net income available to common stockholders | $ 20,135 |
Earnings per common share - basic | $ / shares | $ 1.42 |
Earnings per common share - diluted | $ / shares | $ 1.40 |
Proforma Adjustments [Member] | |
Business Acquisition Pro Forma Information [Line Items] | |
Revenue (net interest income and non-interest income) | $ (4,244) |
Net income | (8,014) |
Net income available to common stockholders | $ (7,934) |
Mergers and Acquisitions - Amou
Mergers and Acquisitions - Amounts Recorded on Consolidated Balance Sheets in Conjunction with Acquisition (Detail) - USD ($) $ in Thousands | Feb. 13, 2016 | Sep. 19, 2014 | Feb. 15, 2014 | Dec. 31, 2016 | Apr. 22, 2016 | Dec. 31, 2015 | Sep. 18, 2015 | Dec. 31, 2014 | |
Business Acquisition [Line Items] | |||||||||
Goodwill recognized | $ 1,032,129 | $ 833,086 | $ 832,213 | ||||||
Fifth Third Bank Branches [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash and cash equivalents | $ 198,872 | ||||||||
Loans | 95,354 | ||||||||
Core deposit intangibles | 4,129 | ||||||||
Fixed and other assets | 14,069 | ||||||||
Total identifiable assets acquired | 312,424 | ||||||||
Deposits | 302,529 | ||||||||
Other liabilities | 24,041 | ||||||||
Total liabilities assumed | 326,570 | ||||||||
Fair value of net identifiable assets acquired | (14,146) | ||||||||
Goodwill recognized | [1] | $ 14,146 | |||||||
Metro Bancorp Inc [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Fair value of consideration paid | $ 404,207 | ||||||||
Cash and cash equivalents | 46,890 | ||||||||
Securities | 722,980 | ||||||||
Loans | 1,862,447 | ||||||||
Core deposit intangibles | 24,163 | ||||||||
Fixed and other assets | 127,185 | ||||||||
Total identifiable assets acquired | 2,783,665 | ||||||||
Deposits | 2,328,238 | ||||||||
Borrowings | 227,539 | ||||||||
Other liabilities | 8,735 | ||||||||
Total liabilities assumed | 2,564,512 | ||||||||
Fair value of net identifiable assets acquired | 219,153 | ||||||||
Goodwill recognized | [1] | $ 185,054 | |||||||
Bank of America Branches [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash and cash equivalents | $ 148,159 | ||||||||
Loans | 842 | ||||||||
Core deposit intangibles | 3,000 | ||||||||
Fixed and 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 | |||||||
OBA Financial Services, Inc. (OBA) [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Fair value of consideration paid | $ 85,554 | ||||||||
Cash and cash equivalents | 32,913 | ||||||||
Securities | 39,891 | ||||||||
Loans | 291,393 | ||||||||
Core deposit intangibles | 4,304 | ||||||||
Fixed and other assets | 21,659 | ||||||||
Total identifiable assets acquired | 390,160 | ||||||||
Deposits | 295,922 | ||||||||
Borrowings | 27,602 | ||||||||
Other liabilities | 1,189 | ||||||||
Total liabilities assumed | 324,713 | ||||||||
Fair value of net identifiable assets acquired | 65,447 | ||||||||
Goodwill recognized | [1] | $ 20,107 | |||||||
BCSB Bancorp, Inc. (BCSB) [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Fair value of consideration paid | $ 80,547 | ||||||||
Cash and cash equivalents | 26,980 | ||||||||
Securities | 208,538 | ||||||||
Loans | 304,932 | ||||||||
Core deposit intangibles | 6,591 | ||||||||
Fixed and other assets | 49,081 | ||||||||
Total identifiable assets acquired | 596,122 | ||||||||
Deposits | 532,197 | ||||||||
Borrowings | 17,011 | ||||||||
Other liabilities | 8,819 | ||||||||
Total liabilities assumed | 558,027 | ||||||||
Fair value of net identifiable assets acquired | 38,095 | ||||||||
Goodwill recognized | [1] | $ 42,452 | |||||||
[1] | All of the goodwill for these transactions has been recorded in the Community Banking segment. |
Securities - Schedule of Amorti
Securities - Schedule of Amortized Cost and Fair Value of Securities Available for Sale (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | |||
Securities Available For Sale, Amortized Cost | $ 2,260,021 | $ 1,636,526 | $ 1,534,771 |
Securities Available For Sale, Gross Unrealized Gains | 4,172 | 7,394 | 11,215 |
Securities Available For Sale, Gross Unrealized Losses | (32,206) | (13,353) | (11,921) |
Securities Available For Sale, Fair Value | 2,231,987 | 1,630,567 | 1,534,065 |
U.S. Treasury [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities Available For Sale, Amortized Cost | 29,874 | 29,738 | 29,604 |
Securities Available For Sale, Gross Unrealized Gains | 79 | 58 | 78 |
Securities Available For Sale, Fair Value | 29,953 | 29,796 | 29,682 |
U.S. Government-Sponsored Entities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities Available For Sale, Amortized Cost | 367,604 | 368,463 | 338,330 |
Securities Available For Sale, Gross Unrealized Gains | 864 | 856 | 742 |
Securities Available For Sale, Gross Unrealized Losses | (3,370) | (1,325) | (1,939) |
Securities Available For Sale, Fair Value | 365,098 | 367,994 | 337,133 |
Agency Mortgage-Backed Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities Available For Sale, Amortized Cost | 1,267,535 | 703,069 | 546,572 |
Securities Available For Sale, Gross Unrealized Gains | 2,257 | 4,594 | 7,548 |
Securities Available For Sale, Gross Unrealized Losses | (16,994) | (2,832) | (35) |
Securities Available For Sale, Fair Value | 1,252,798 | 704,831 | 554,085 |
Securities Available For Sale, Fair Value | 1,252,798 | ||
Agency Collateralized Mortgage Obligations [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities Available For Sale, Amortized Cost | 546,659 | 503,328 | 580,601 |
Securities Available For Sale, Gross Unrealized Gains | 419 | 1,032 | 1,617 |
Securities Available For Sale, Gross Unrealized Losses | (11,104) | (8,530) | (9,047) |
Securities Available For Sale, Fair Value | 535,974 | 495,830 | 573,171 |
Securities Available For Sale, Fair Value | 535,974 | ||
Non-Agency Collateralized Mortgage Obligations [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities Available For Sale, Amortized Cost | 891 | 1,177 | 1,414 |
Securities Available For Sale, Gross Unrealized Gains | 6 | 13 | 17 |
Securities Available For Sale, Fair Value | 897 | 1,190 | 1,431 |
Securities Available For Sale, Fair Value | 897 | ||
Commercial Mortgage-Backed Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities Available For Sale, Amortized Cost | 1,292 | 4,299 | 7,891 |
Securities Available For Sale, Gross Unrealized Losses | (1) | (12) | (11) |
Securities Available For Sale, Fair Value | 1,291 | 4,287 | 7,880 |
Securities Available For Sale, Fair Value | 1,291 | ||
States of the U.S. and Political Subdivisions [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities Available For Sale, Amortized Cost | 36,065 | 10,748 | 12,713 |
Securities Available For Sale, Gross Unrealized Gains | 86 | 309 | 477 |
Securities Available For Sale, Gross Unrealized Losses | (302) | (32) | |
Securities Available For Sale, Fair Value | 35,849 | 11,057 | 13,158 |
Other Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities Available For Sale, Amortized Cost | 9,828 | 14,729 | 16,615 |
Securities Available For Sale, Gross Unrealized Gains | 94 | 208 | 420 |
Securities Available For Sale, Gross Unrealized Losses | (435) | (651) | (857) |
Securities Available For Sale, Fair Value | 9,487 | 14,286 | 16,178 |
Debt Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities Available For Sale, Amortized Cost | 2,259,748 | 1,635,551 | 1,533,740 |
Securities Available For Sale, Gross Unrealized Gains | 3,805 | 7,070 | 10,899 |
Securities Available For Sale, Gross Unrealized Losses | (32,206) | (13,350) | (11,921) |
Securities Available For Sale, Fair Value | 2,231,347 | 1,629,271 | 1,532,718 |
Equity Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities Available For Sale, Amortized Cost | 273 | 975 | 1,031 |
Securities Available For Sale, Gross Unrealized Gains | 367 | 324 | 316 |
Securities Available For Sale, Gross Unrealized Losses | (3) | ||
Securities Available For Sale, Fair Value | 640 | $ 1,296 | $ 1,347 |
Securities Available For Sale, Fair Value | $ 640 |
Securities - Schedule of Amor63
Securities - Schedule of Amortized Cost and Fair Value of Securities Held to Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Investment Securities Held To Maturity [Line Items] | |||
Securities Held To Maturity, Amortized Cost | $ 2,337,342 | $ 1,637,061 | $ 1,453,355 |
Securities Held To Maturity, Gross Unrealized Gains | 8,226 | 15,943 | 23,145 |
Securities Held To Maturity, Gross Unrealized Losses | (50,791) | (9,588) | (8,242) |
Securities held to maturity, fair value | 2,294,777 | 1,643,416 | 1,468,258 |
U.S. Treasury [Member] | |||
Investment Securities Held To Maturity [Line Items] | |||
Securities Held To Maturity, Amortized Cost | 500 | 500 | 502 |
Securities Held To Maturity, Gross Unrealized Gains | 137 | 153 | 168 |
Securities held to maturity, fair value | 637 | 653 | 670 |
U.S. Government-Sponsored Entities [Member] | |||
Investment Securities Held To Maturity [Line Items] | |||
Securities Held To Maturity, Amortized Cost | 272,645 | 137,385 | 101,602 |
Securities Held To Maturity, Gross Unrealized Gains | 348 | 809 | 885 |
Securities Held To Maturity, Gross Unrealized Losses | (4,475) | (395) | (524) |
Securities held to maturity, fair value | 268,518 | 137,799 | 101,963 |
Agency Mortgage-Backed Securities [Member] | |||
Investment Securities Held To Maturity [Line Items] | |||
Securities Held To Maturity, Amortized Cost | 852,215 | 709,970 | 677,169 |
Securities Held To Maturity, Gross Unrealized Gains | 5,654 | 9,858 | 16,712 |
Securities Held To Maturity, Gross Unrealized Losses | (8,645) | (1,176) | (346) |
Securities held to maturity, fair value | 849,224 | 718,652 | 693,535 |
Agency Collateralized Mortgage Obligations [Member] | |||
Investment Securities Held To Maturity [Line Items] | |||
Securities Held To Maturity, Amortized Cost | 743,148 | 499,694 | 501,965 |
Securities Held To Maturity, Gross Unrealized Gains | 447 | 803 | 1,858 |
Securities Held To Maturity, Gross Unrealized Losses | (17,801) | (7,657) | (7,329) |
Securities held to maturity, fair value | 725,794 | 492,840 | 496,494 |
Non-Agency Collateralized Mortgage Obligations [Member] | |||
Investment Securities Held To Maturity [Line Items] | |||
Securities Held To Maturity, Amortized Cost | 1,689 | 2,681 | 4,285 |
Securities Held To Maturity, Gross Unrealized Gains | 3 | 14 | 28 |
Securities Held To Maturity, Gross Unrealized Losses | (6) | ||
Securities held to maturity, fair value | 1,686 | 2,695 | 4,313 |
Commercial Mortgage-Backed Securities [Member] | |||
Investment Securities Held To Maturity [Line Items] | |||
Securities Held To Maturity, Amortized Cost | 49,797 | 51,258 | 17,560 |
Securities Held To Maturity, Gross Unrealized Gains | 181 | 115 | 179 |
Securities Held To Maturity, Gross Unrealized Losses | (226) | (259) | |
Securities held to maturity, fair value | 49,752 | 51,114 | 17,739 |
States of the U.S. and Political Subdivisions [Member] | |||
Investment Securities Held To Maturity [Line Items] | |||
Securities Held To Maturity, Amortized Cost | 417,348 | 235,573 | 150,272 |
Securities Held To Maturity, Gross Unrealized Gains | 1,456 | 4,191 | 3,315 |
Securities Held To Maturity, Gross Unrealized Losses | (19,638) | (101) | (43) |
Securities held to maturity, fair value | $ 399,166 | $ 239,663 | $ 153,544 |
Securities - Gross Gains and Gr
Securities - Gross Gains and Gross Losses Realized on Sales of Securities (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Investments, Debt and Equity Securities [Abstract] | |||
Gross gains | $ 713 | $ 831 | $ 20,241 |
Gross losses | (1) | (9) | (8,524) |
Net gains | $ 712 | $ 822 | $ 11,717 |
Securities - Additional Informa
Securities - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($)Securities | |
Schedule Of Securities [Line Items] | |||
Number of pooled issue securities | Securities | 23 | ||
Net proceeds from sale of securities | $ 615,199,000 | $ 33,499,000 | $ 175,872,000 |
Net securities (losses) gains | 712,000 | 822,000 | 11,717,000 |
OTTI losses on securities | 0 | $ 0 | 0 |
Municipal bond portfolio, value | $ 453,200,000 | ||
Percentage of formal credit enhancement insurance of municipalities | 72.00% | ||
Municipal Bonds [Member] | Weighted Average [Member] | |||
Schedule Of Securities [Line Items] | |||
Average holding size of securities in bond portfolio | $ 2,200,000 | ||
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 | 83.60% | ||
Pooled TPS [Member] | |||
Schedule Of Securities [Line Items] | |||
Net proceeds from sale of securities | 51,500,000 | ||
Net securities (losses) gains | 13,800,000 | ||
Other Securities [Member] | |||
Schedule Of Securities [Line Items] | |||
Net securities (losses) gains | $ 2,000,000 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities, by Contractual Maturities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule Of Securities [Line Items] | |||
Available for Sale, Due in one year or less, Amortized Cost | $ 84,929 | ||
Available for Sale, Due from one to five years, Amortized Cost | 330,096 | ||
Available for Sale, Due from five to ten years, Amortized Cost | 21,064 | ||
Available for Sale, Due after ten years, Amortized Cost | 7,282 | ||
Available for Sale, with contractual maturities, Amortized Cost | 443,371 | ||
Total securities available for sale, Amortized Cost | 2,260,021 | $ 1,636,526 | $ 1,534,771 |
Available for Sale, Due in one year or less, Fair Value | 85,222 | ||
Available for Sale, Due from one to five years, Fair Value | 327,428 | ||
Available for Sale, Due from five to ten years, Fair Value | 20,973 | ||
Available for Sale, Due after ten years, Fair Value | 6,764 | ||
Available for Sale, with contractual maturities, Fair Value | 440,387 | ||
Total securities available for sale, Fair Value | 2,231,987 | 1,630,567 | 1,534,065 |
Held to Maturity, Due in one year or less, Amortized Cost | 10,395 | ||
Held to Maturity, Due from one to five years, Amortized Cost | 271,662 | ||
Held to Maturity, Due from five to ten years, Amortized Cost | 50,994 | ||
Held to Maturity, Due after ten years, Amortized Cost | 357,442 | ||
Securities Held To Maturity, with contractual maturities, Amortized Cost | 690,493 | ||
Held to Maturity, with contractual maturities, Amortized Cost | 2,337,342 | 1,637,061 | 1,453,355 |
Held to Maturity, Due in one year or less, Fair Value | 10,404 | ||
Held to Maturity, Due from one to five years, Fair Value | 267,497 | ||
Held to Maturity, Due from five to ten years, Fair Value | 50,567 | ||
Held to Maturity, Due after ten years, Fair Value | 339,853 | ||
Securities Held To Maturity, with contractual maturities, Fair Value | 668,321 | ||
Held to Maturity, with contractual maturities, Fair Value | 2,294,777 | 1,643,416 | 1,468,258 |
Agency Mortgage-Backed Securities [Member] | |||
Schedule Of Securities [Line Items] | |||
Total securities available for sale, Amortized Cost | 1,267,535 | 703,069 | 546,572 |
Total securities available for sale, Fair Value | 1,252,798 | ||
Held to Maturity, with contractual maturities, Amortized Cost | 852,215 | 709,970 | 677,169 |
Held to Maturity, with contractual maturities, Fair Value | 849,224 | 718,652 | 693,535 |
Agency Collateralized Mortgage Obligations [Member] | |||
Schedule Of Securities [Line Items] | |||
Total securities available for sale, Amortized Cost | 546,659 | 503,328 | 580,601 |
Total securities available for sale, Fair Value | 535,974 | ||
Held to Maturity, with contractual maturities, Amortized Cost | 743,148 | 499,694 | 501,965 |
Held to Maturity, with contractual maturities, Fair Value | 725,794 | 492,840 | 496,494 |
Non-Agency Collateralized Mortgage Obligations [Member] | |||
Schedule Of Securities [Line Items] | |||
Total securities available for sale, Amortized Cost | 891 | 1,177 | 1,414 |
Total securities available for sale, Fair Value | 897 | ||
Held to Maturity, with contractual maturities, Amortized Cost | 1,689 | 2,681 | 4,285 |
Held to Maturity, with contractual maturities, Fair Value | 1,686 | 2,695 | 4,313 |
Commercial Mortgage-Backed Securities [Member] | |||
Schedule Of Securities [Line Items] | |||
Total securities available for sale, Amortized Cost | 1,292 | 4,299 | 7,891 |
Total securities available for sale, Fair Value | 1,291 | ||
Held to Maturity, with contractual maturities, Amortized Cost | 49,797 | 51,258 | 17,560 |
Held to Maturity, with contractual maturities, Fair Value | 49,752 | 51,114 | 17,739 |
Equity Securities [Member] | |||
Schedule Of Securities [Line Items] | |||
Total securities available for sale, Amortized Cost | 273 | $ 975 | $ 1,031 |
Total securities available for sale, Fair Value | $ 640 |
Securities - Schedule of Securi
Securities - Schedule of Securities Pledged as Collateral (Detail) - USD ($) $ in Thousands | Dec. 31, 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 | $ 2,779,335 | $ 1,728,939 |
Securities pledged (carrying value), Collateral for short-term borrowings | $ 322,038 | $ 272,629 |
Securities pledged as a percent of total securities | 67.90% | 61.30% |
Securities - Summaries of Fair
Securities - Summaries of Fair Values and Unrealized Losses of Securities, Segregated by Length of Impairment (Detail) $ in Thousands | Dec. 31, 2016USD ($)Security | Dec. 31, 2015USD ($)Security | Dec. 31, 2014USD ($) |
Schedule Of Securities [Line Items] | |||
Number of available for sale securities, Less than 1 year | Security | 113 | 36 | |
Number of available for sale securities, Greater than 1 year | Security | 12 | 23 | |
Number of available for sale securities | Security | 125 | 59 | |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 1,644,951 | $ 589,609 | |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (27,928) | (5,027) | |
Securities Available For Sale, 12 Months or More, Fair Value | 93,510 | 254,062 | |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (4,278) | (8,326) | |
Securities Available For Sale, Fair Value, Total | 1,738,461 | 843,671 | |
Securities Available For Sale, Unrealized Losses, Total | $ (32,206) | $ (13,353) | |
Number of held to maturity securities | Security | 186 | 59 | |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 1,513,912 | $ 466,354 | |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (46,484) | (3,126) | |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 120,957 | 176,411 | |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | (4,307) | (6,462) | |
Securities Held To Maturity, Fair Value, Total | 1,634,869 | 642,765 | |
Securities Held To Maturity, Unrealized Losses, Total | $ (50,791) | $ (9,588) | $ (8,242) |
Less than 12 Months [Member] | |||
Schedule Of Securities [Line Items] | |||
Number of held to maturity securities | Security | 173 | 43 | |
Greater than 12 Months [Member] | |||
Schedule Of Securities [Line Items] | |||
Number of held to maturity securities | Security | 13 | 16 | |
U.S. Government-Sponsored Entities [Member] | |||
Schedule Of Securities [Line Items] | |||
Number of available for sale securities, Less than 1 year | Security | 11 | 6 | |
Number of available for sale securities, Greater than 1 year | Security | 2 | ||
Number of available for sale securities | Security | 11 | 8 | |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 211,636 | $ 99,131 | |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (3,370) | (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 | 211,636 | 133,618 | |
Securities Available For Sale, Unrealized Losses, Total | $ (3,370) | $ (1,325) | |
Number of held to maturity securities | Security | 10 | 4 | |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 185,525 | $ 39,843 | |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (4,475) | (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 | 185,525 | 54,621 | |
Securities Held To Maturity, Unrealized Losses, Total | $ (4,475) | $ (395) | (524) |
U.S. Government-Sponsored Entities [Member] | Less than 12 Months [Member] | |||
Schedule Of Securities [Line Items] | |||
Number of held to maturity securities | Security | 10 | 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 | 55 | 19 | |
Number of available for sale securities | Security | 55 | 19 | |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 1,056,731 | $ 359,250 | |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (16,994) | (2,832) | |
Securities Available For Sale, Fair Value, Total | 1,056,731 | 359,250 | |
Securities Available For Sale, Unrealized Losses, Total | $ (16,994) | $ (2,832) | |
Number of held to maturity securities | Security | 36 | 18 | |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 551,404 | $ 212,024 | |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (8,645) | (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 | 551,404 | 212,941 | |
Securities Held To Maturity, Unrealized Losses, Total | $ (8,645) | $ (1,176) | (346) |
Agency Mortgage-Backed Securities [Member] | Less than 12 Months [Member] | |||
Schedule Of Securities [Line Items] | |||
Number of held to maturity securities | Security | 36 | 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 | 26 | 9 | |
Number of available for sale securities, Greater than 1 year | Security | 9 | 18 | |
Number of available for sale securities | Security | 35 | 27 | |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 346,662 | $ 126,309 | |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (7,261) | (1,366) | |
Securities Available For Sale, 12 Months or More, Fair Value | 89,040 | 215,330 | |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (3,843) | (7,164) | |
Securities Available For Sale, Fair Value, Total | 435,702 | 341,639 | |
Securities Available For Sale, Unrealized Losses, Total | $ (11,104) | $ (8,530) | |
Number of held to maturity securities | Security | 41 | 25 | |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 516,237 | $ 150,593 | |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (13,710) | (1,434) | |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 112,690 | 160,716 | |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | (4,091) | (6,223) | |
Securities Held To Maturity, Fair Value, Total | 628,927 | 311,309 | |
Securities Held To Maturity, Unrealized Losses, Total | $ (17,801) | $ (7,657) | (7,329) |
Agency Collateralized Mortgage Obligations [Member] | Less than 12 Months [Member] | |||
Schedule Of Securities [Line Items] | |||
Number of held to maturity securities | Security | 29 | 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 | $ 1,128 | ||
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (6) | ||
Securities Held To Maturity, Fair Value, Total | 1,128 | ||
Securities Held To Maturity, Unrealized Losses, Total | $ (6) | ||
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 | $ 1,291 | $ 4,287 | |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (1) | (12) | |
Securities Available For Sale, Fair Value, Total | 1,291 | 4,287 | |
Securities Available For Sale, Unrealized Losses, Total | $ (1) | $ (12) | |
Number of held to maturity securities | Security | 2 | 3 | |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 12,317 | $ 46,278 | |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (10) | (259) | |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 8,267 | ||
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | (216) | ||
Securities Held To Maturity, Fair Value, Total | 20,584 | 46,278 | |
Securities Held To Maturity, Unrealized Losses, Total | $ (226) | $ (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 | |
Commercial Mortgage-Backed Securities [Member] | Greater than 12 Months [Member] | |||
Schedule Of Securities [Line Items] | |||
Number of held to maturity securities | Security | 1 | ||
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 | 20 | ||
Number of available for sale securities | Security | 20 | ||
Securities Available For Sale, Less than 12 Months, Fair Value | $ 28,631 | ||
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (302) | ||
Securities Available For Sale, Fair Value, Total | 28,631 | ||
Securities Available For Sale, Unrealized Losses, Total | $ (302) | ||
Number of held to maturity securities | Security | 94 | 9 | |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 247,301 | $ 17,616 | |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (19,638) | (101) | |
Securities Held To Maturity, Fair Value, Total | 247,301 | 17,616 | |
Securities Held To Maturity, Unrealized Losses, Total | $ (19,638) | $ (101) | $ (43) |
States of the U.S. and Political Subdivisions [Member] | Less than 12 Months [Member] | |||
Schedule Of Securities [Line Items] | |||
Number of held to maturity securities | Security | 94 | 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 | $ 4,470 | $ 4,245 | |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (435) | (651) | |
Securities Available For Sale, Fair Value, Total | 4,470 | 4,245 | |
Securities Available For Sale, Unrealized Losses, Total | $ (435) | $ (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 | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 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 | (27) | |
Ending balance | 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 | $ (27) | |
Ending balance | $ 27 |
Federal Home Loan Bank Stock -
Federal Home Loan Bank Stock - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Federal Home Loan Bank stock | $ 85 | $ 72.9 |
Loans and Leases - Summary of L
Loans and Leases - Summary of Loans and Leases, Net of Unearned Income (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | $ 14,896,943 | $ 12,190,440 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 5,435,162 | 4,109,056 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 3,042,781 | 2,601,722 |
Commercial Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 196,636 | 204,553 |
Total Commercial Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 8,674,579 | 6,915,331 |
Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,844,399 | 1,706,636 |
Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,844,574 | 1,395,971 |
Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,196,313 | 996,729 |
Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,301,200 | 1,137,255 |
Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 35,878 | 38,518 |
Originated Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 12,547,987 | 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 | 4,095,817 | 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 | 2,711,886 | 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 | 196,636 | 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 | 7,004,339 | 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 | 1,765,257 | 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 | 1,446,776 | 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 | 1,196,110 | 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 | 1,099,627 | 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 | 35,878 | 38,518 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 2,348,956 | 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 | 1,339,345 | 577,910 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 330,895 | 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 | 1,670,240 | 645,281 |
Acquired Loans [Member] | Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 79,142 | 45,919 |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 397,798 | 351,282 |
Acquired Loans [Member] | Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 203 | 554 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | $ 201,573 | $ 115,425 |
Loans and Leases - Additional I
Loans and Leases - Additional Information (Detail) | Dec. 31, 2016USD ($)Loans | Dec. 31, 2015USD ($)Loans | Dec. 31, 2016USD ($)Loans | Dec. 31, 2015USD ($)Loans | Dec. 31, 2014USD ($) | Feb. 13, 2016USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Concentration of loans | Loans | 0 | 0 | 0 | 0 | ||
Concentration of loans, percentage | Excess of 10% | |||||
Carrying amount | $ 14,896,943,000 | $ 12,190,440,000 | $ 14,896,943,000 | $ 12,190,440,000 | ||
Reclassification from non-accretable difference | $ 92,823,000 | $ 32,141,000 | ||||
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 | 90 days | ||||
Minimum reserves for commercial loan | 500,000 | $ 500,000 | ||||
Minimum amount to allocate specific valuation allowance | 500,000 | 500,000 | ||||
Interest income on impaired loans still accruing | 4,600,000 | $ 4,100,000 | $ 3,700,000 | |||
Restructured loans returned to performing status | 5,300,000 | |||||
Valuation for impairment of loans with pooled reserves | 500,000 | 500,000 | 500,000 | 500,000 | ||
Pooled reserves for all other classes of loans | 3,700,000 | 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 | $ 2,800,000 | $ 5,900,000 | $ 2,800,000 | $ 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 | $ 5,300,000 | $ 5,300,000 | ||||
Mortgage loans on real estate, foreclosure | $ 12,000,000 |
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 | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Loans and Leases Receivable Disclosure [Line Items] | ||
Regency consumer finance loans | $ 184,687 | $ 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 In74
Loans and Leases - Certain Information Relating to Commercial Real Estate Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Loans and Leases Receivable Disclosure [Line Items] | ||
Commercial construction loans | $ 459,995 | $ 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 | 36.20% | 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 | 63.80% | 61.90% |
Loans and Leases - Summary of75
Loans and Leases - Summary of Loans to Related Parties (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Receivables [Abstract] | |
Beginning Balance | $ 41,801 |
New loans | 4,246 |
Repayments | (4,013) |
Other | (20,465) |
Ending Balance | $ 21,569 |
Loans and Leases - Summary of O
Loans and Leases - Summary of Outstanding Principal Balance and Carrying Amount of Acquired Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount | $ 14,896,943 | $ 12,190,440 |
Accounted for under ASC 310-30 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 2,346,687 | 1,258,418 |
Carrying amount | 2,015,904 | 1,011,139 |
Accounted for under ASC 310-20 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 342,015 | 146,161 |
Carrying amount | 325,784 | 140,595 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 2,688,702 | 1,404,579 |
Carrying amount | $ 2,341,688 | $ 1,151,734 |
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 | Dec. 31, 2016 | Dec. 31, 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 | 308,312 | ||
Reduction due to unexpected early payoffs | (86,046) | (47,075) | |
Reclass from non-accretable difference | 92,823 | 32,141 | |
Disposals/transfers | (409) | (674) | |
Accretion | $ (308,311) | (103,730) | (60,171) |
Balance at end of period | $ 467,070 | $ 256,120 |
Loans and Leases - Summary of A
Loans and Leases - Summary of Acquisition of Purchased Loans (Detail) - USD ($) $ in Thousands | Feb. 13, 2016 | Dec. 31, 2016 | Dec. 31, 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) | $ (103,730) | $ (60,171) |
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 | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled debt restructurings | $ 46,933 | $ 45,500 |
Non-Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 65,479 | 49,897 |
Troubled debt restructurings | 20,428 | 22,028 |
Total non-performing loans | 85,907 | 71,925 |
Other real estate owned (OREO) | 32,490 | 38,918 |
Total non-performing assets | $ 118,397 | $ 110,843 |
Non-performing loans / total loans and leases | 0.58% | 0.59% |
Non-performing loans + OREO / total loans and leases + OREO | 0.79% | 0.91% |
Non-performing assets / total assets | 0.54% | 0.63% |
Loans and Leases - Age Analysis
Loans and Leases - Age Analysis of Past Due Loans, by Class (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 14,896,943 | $ 12,190,440 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 5,435,162 | 4,109,056 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 3,042,781 | 2,601,722 |
Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 196,636 | 204,553 |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 8,674,579 | 6,915,331 |
Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,844,399 | 1,706,636 |
Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,844,574 | 1,395,971 |
Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,196,313 | 996,729 |
Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,301,200 | 1,137,255 |
Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 35,878 | 38,518 |
Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 59,850 | 46,683 |
> 90 Days Past Due and Still Accruing | 9,113 | 7,024 |
Non-Accrual | 62,083 | 48,774 |
Total Past Due | 131,046 | 102,481 |
Current | 12,416,941 | 10,929,498 |
Total Loans | 12,547,987 | 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 | 8,452 | 11,006 |
> 90 Days Past Due and Still Accruing | 1 | 1 |
Non-Accrual | 20,114 | 23,503 |
Total Past Due | 28,567 | 34,510 |
Current | 4,067,250 | 3,496,636 |
Total Loans | 4,095,817 | 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 | 16,019 | 5,409 |
> 90 Days Past Due and Still Accruing | 3 | 3 |
Non-Accrual | 24,141 | 14,382 |
Total Past Due | 40,163 | 19,794 |
Current | 2,671,723 | 2,514,557 |
Total Loans | 2,711,886 | 2,534,351 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 973 | 924 |
> 90 Days Past Due and Still Accruing | 1 | |
Non-Accrual | 3,429 | 659 |
Total Past Due | 4,403 | 1,583 |
Current | 192,233 | 202,970 |
Total Loans | 196,636 | 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 | 25,444 | 17,339 |
> 90 Days Past Due and Still Accruing | 5 | 4 |
Non-Accrual | 47,684 | 38,544 |
Total Past Due | 73,133 | 55,887 |
Current | 6,931,206 | 6,214,163 |
Total Loans | 7,004,339 | 6,270,050 |
Originated Loans and Leases [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 10,573 | 9,254 |
> 90 Days Past Due and Still Accruing | 4,386 | 3,813 |
Non-Accrual | 6,484 | 4,806 |
Total Past Due | 21,443 | 17,873 |
Current | 1,743,814 | 1,642,844 |
Total Loans | 1,765,257 | 1,660,717 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 10,594 | 8,135 |
> 90 Days Past Due and Still Accruing | 3,014 | 1,470 |
Non-Accrual | 3,316 | 2,882 |
Total Past Due | 16,924 | 12,487 |
Current | 1,429,852 | 1,032,202 |
Total Loans | 1,446,776 | 1,044,689 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 9,312 | 9,472 |
> 90 Days Past Due and Still Accruing | 513 | 379 |
Non-Accrual | 1,983 | 1,361 |
Total Past Due | 11,808 | 11,212 |
Current | 1,184,302 | 984,963 |
Total Loans | 1,196,110 | 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 | 3,529 | 2,410 |
> 90 Days Past Due and Still Accruing | 1,112 | 1,189 |
Non-Accrual | 1,616 | 1,181 |
Total Past Due | 6,257 | 4,780 |
Current | 1,093,370 | 1,017,050 |
Total Loans | 1,099,627 | 1,021,830 |
Originated Loans and Leases [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 398 | 73 |
> 90 Days Past Due and Still Accruing | 83 | 169 |
Non-Accrual | 1,000 | |
Total Past Due | 1,481 | 242 |
Current | 34,397 | 38,276 |
Total Loans | 35,878 | 38,518 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 24,210 | 15,034 |
> 90 Days Past Due and Still Accruing | 40,524 | 29,718 |
Non-Accrual | 3,396 | 1,123 |
Total Past Due | 68,130 | 45,875 |
Current | 2,430,340 | 1,193,517 |
(Discount)/Premium | (149,514) | (80,931) |
Total Loans | 2,348,956 | 1,158,461 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 9,501 | 6,399 |
> 90 Days Past Due and Still Accruing | 23,890 | 12,752 |
Non-Accrual | 949 | 931 |
Total Past Due | 34,340 | 20,082 |
Current | 1,384,752 | 593,128 |
(Discount)/Premium | (79,747) | (35,300) |
Total Loans | 1,339,345 | 577,910 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 1,789 | 1,065 |
> 90 Days Past Due and Still Accruing | 2,942 | 616 |
Non-Accrual | 2,111 | 103 |
Total Past Due | 6,842 | 1,784 |
Current | 353,494 | 72,037 |
(Discount)/Premium | (29,441) | (6,450) |
Total Loans | 330,895 | 67,371 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 11,290 | 7,464 |
> 90 Days Past Due and Still Accruing | 26,832 | 13,368 |
Non-Accrual | 3,060 | 1,034 |
Total Past Due | 41,182 | 21,866 |
Current | 1,738,246 | 665,165 |
(Discount)/Premium | (109,188) | (41,750) |
Total Loans | 1,670,240 | 645,281 |
Acquired Loans [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 2,317 | 837 |
> 90 Days Past Due and Still Accruing | 1,344 | 659 |
Total Past Due | 3,661 | 1,496 |
Current | 73,479 | 43,596 |
(Discount)/Premium | 2,002 | 827 |
Total Loans | 79,142 | 45,919 |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 8,428 | 5,871 |
> 90 Days Past Due and Still Accruing | 10,816 | 15,136 |
Total Past Due | 19,244 | 21,007 |
Current | 416,561 | 366,742 |
(Discount)/Premium | (38,007) | (36,467) |
Total Loans | 397,798 | 351,282 |
Acquired Loans [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 19 | 32 |
> 90 Days Past Due and Still Accruing | 4 | 9 |
Total Past Due | 23 | 41 |
Current | 96 | 571 |
(Discount)/Premium | 84 | (58) |
Total Loans | 203 | 554 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 2,156 | 830 |
> 90 Days Past Due and Still Accruing | 1,528 | 546 |
Non-Accrual | 336 | 89 |
Total Past Due | 4,020 | 1,465 |
Current | 201,958 | 117,443 |
(Discount)/Premium | (4,405) | (3,483) |
Total Loans | $ 201,573 | $ 115,425 |
Loans and Leases - Summary of81
Loans and Leases - Summary of Commercial Loans and Leases by Credit Quality (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | $ 14,896,943 | $ 12,190,440 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 5,435,162 | 4,109,056 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,042,781 | 2,601,722 |
Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 196,636 | 204,553 |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 8,674,579 | 6,915,331 |
Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 12,547,987 | 11,031,979 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,095,817 | 3,531,146 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,711,886 | 2,534,351 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 196,636 | 204,553 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 7,004,339 | 6,270,050 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,348,956 | 1,158,461 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 1,339,345 | 577,910 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 330,895 | 67,371 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 1,670,240 | 645,281 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,895,764 | 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 | 2,475,955 | 2,335,103 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 188,662 | 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 | 6,560,381 | 5,949,837 |
Pass [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 1,144,676 | 464,162 |
Pass [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 274,819 | 56,446 |
Pass [Member] | Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 1,419,495 | 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 | 130,452 | 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 | 104,652 | 109,539 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,789 | 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 | 238,893 | 164,873 |
Special Mention [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 85,894 | 47,619 |
Special Mention [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 20,593 | 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 | 106,487 | 50,801 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 69,588 | 61,411 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 128,089 | 87,380 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,185 | 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 | 201,862 | 152,690 |
Substandard [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 108,128 | 66,129 |
Substandard [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 34,967 | 7,743 |
Substandard [Member] | Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 143,095 | 73,872 |
Doubtful [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 13 | 321 |
Doubtful [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,190 | 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 | 3,203 | $ 2,650 |
Doubtful [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 647 | |
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 | $ 1,163 |
Loans and Leases - Summary of82
Loans and Leases - Summary of Consumer Loans by Payment Status (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Credit Quality [Line Items] | ||
Total Loans | $ 14,896,943 | $ 12,190,440 |
Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 5,474,286 | 4,693,295 |
Non Performing Consumer Originated [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 33,484 | 30,116 |
Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,844,399 | 1,706,636 |
Direct Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 1,750,305 | 1,646,925 |
Direct Installment [Member] | Non Performing Consumer Originated [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 14,952 | 13,792 |
Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,844,574 | 1,395,971 |
Residential Mortgages [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 1,433,409 | 1,031,926 |
Residential Mortgages [Member] | Non Performing Consumer Originated [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 13,367 | 12,763 |
Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,196,313 | 996,729 |
Indirect Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 1,193,930 | 994,661 |
Indirect Installment [Member] | Non Performing Consumer Originated [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 2,180 | 1,514 |
Consumer Lines of Credit [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 1,096,642 | 1,019,783 |
Consumer Lines of Credit [Member] | Non Performing Consumer Originated [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 2,985 | 2,047 |
Originated Consumer Loans [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 5,507,770 | 4,723,411 |
Originated Consumer Loans [Member] | Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,765,257 | 1,660,717 |
Originated Consumer Loans [Member] | Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,446,776 | 1,044,689 |
Originated Consumer Loans [Member] | Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,196,110 | 996,175 |
Originated Consumer Loans [Member] | Consumer Lines of Credit [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | $ 1,099,627 | $ 1,021,830 |
Loans and Leases - Summary of I
Loans and Leases - Summary of Impaired Loans and Lease, by Class (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | $ 93,479 | $ 84,525 |
Recorded Investment With No Specific Reserve | 72,393 | 64,374 |
Recorded Investment With Specific Reserve | 9,460 | 6,315 |
Total Recorded Investment | 81,853 | 70,689 |
Specific Reserve | 3,203 | 2,650 |
Average Recorded Investment | 86,388 | 68,950 |
Commercial Real Estate [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 23,771 | 33,780 |
Recorded Investment With No Specific Reserve | 19,699 | 24,423 |
Recorded Investment With Specific Reserve | 464 | 772 |
Total Recorded Investment | 20,163 | 25,195 |
Specific Reserve | 13 | 321 |
Average Recorded Investment | 19,217 | 26,143 |
Commercial and Industrial [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 25,719 | 15,860 |
Recorded Investment With No Specific Reserve | 14,781 | 9,176 |
Recorded Investment With Specific Reserve | 8,996 | 5,543 |
Total Recorded Investment | 23,777 | 14,719 |
Specific Reserve | 3,190 | 2,329 |
Average Recorded Investment | 29,730 | 12,298 |
Commercial Leases [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 3,429 | 659 |
Recorded Investment With No Specific Reserve | 3,429 | 659 |
Total Recorded Investment | 3,429 | 659 |
Average Recorded Investment | 3,394 | 747 |
Total Commercial Loans and Leases [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 52,919 | 50,299 |
Recorded Investment With No Specific Reserve | 37,909 | 34,258 |
Recorded Investment With Specific Reserve | 9,460 | 6,315 |
Total Recorded Investment | 47,369 | 40,573 |
Specific Reserve | 3,203 | 2,650 |
Average Recorded Investment | 52,341 | 39,188 |
Direct Installment [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 16,440 | 14,679 |
Recorded Investment With No Specific Reserve | 14,952 | 13,792 |
Total Recorded Investment | 14,952 | 13,792 |
Average Recorded Investment | 14,997 | 13,267 |
Residential Mortgages [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 14,090 | 13,394 |
Recorded Investment With No Specific Reserve | 13,367 | 12,763 |
Total Recorded Investment | 13,367 | 12,763 |
Average Recorded Investment | 13,200 | 12,896 |
Indirect Installment [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 5,172 | 3,745 |
Recorded Investment With No Specific Reserve | 2,180 | 1,514 |
Total Recorded Investment | 2,180 | 1,514 |
Average Recorded Investment | 2,037 | 1,401 |
Consumer Lines of Credit [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 3,858 | 2,408 |
Recorded Investment With No Specific Reserve | 2,985 | 2,047 |
Total Recorded Investment | 2,985 | 2,047 |
Average Recorded Investment | 2,813 | $ 2,198 |
Other [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 1,000 | |
Recorded Investment With No Specific Reserve | 1,000 | |
Total Recorded Investment | 1,000 | |
Average Recorded Investment | $ 1,000 |
Loans and Leases - Additional A
Loans and Leases - Additional Allowance for Credit Losses Relating to Acquired Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total allowance on acquired loans | $ 7,268 | $ 6,727 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total allowance on acquired loans | 4,538 | 3,073 |
Commercial and Industrial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total allowance on acquired loans | 500 | 695 |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total allowance on acquired loans | 5,038 | 3,768 |
Direct Installment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total allowance on acquired loans | 1,005 | 1,557 |
Residential Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total allowance on acquired loans | 632 | 659 |
Indirect Installment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total allowance on acquired loans | 221 | 221 |
Consumer Lines of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total allowance on acquired loans | $ 372 | $ 522 |
Loans and Leases - Summary of P
Loans and Leases - Summary of Payment Status of Originated TDRs (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | $ 46,933 | $ 45,500 |
Performing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 17,470 | 15,165 |
Non-Performing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 20,428 | 22,028 |
Non-Accrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | $ 9,035 | $ 8,307 |
Loans and Leases - Reserve for
Loans and Leases - Reserve for Commercial TDRs Included in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Financing Receivable, Modifications [Line Items] | ||||
Reserves in allowance for loan losses, TDRs | $ 158,059 | $ 142,012 | $ 125,926 | $ 110,784 |
Total Commercial Loans and Leases [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Reserves in allowance for loan losses, TDRs | 97,906 | 85,305 | $ 72,631 | $ 67,054 |
Specific Reserves for Commercial TDRs [Member] | Total Commercial Loans and Leases [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Reserves in allowance for loan losses, TDRs | 291 | 300 | ||
Pooled Reserves for Individual Commercial Loans [Member] | Total Commercial Loans and Leases [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Reserves in allowance for loan losses, TDRs | $ 276 | $ 929 |
Loans and Leases - Reserve fo87
Loans and Leases - Reserve for Commercial TDRs Included in Allowance for Credit Losses (Parenthetical) (Detail) - USD ($) | Dec. 31, 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 | 12 Months Ended | |
Dec. 31, 2016USD ($)Contract | Dec. 31, 2015USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 679 | 613 |
Pre-Modification Outstanding Recorded Investment | $ 12,220 | $ 10,554 |
Post-Modification Outstanding Recorded Investment | $ 11,222 | $ 9,818 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 4 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 778 | $ 1,165 |
Post-Modification Outstanding Recorded Investment | $ 737 | $ 960 |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 3 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 1,727 | $ 5 |
Post-Modification Outstanding Recorded Investment | $ 1,504 | $ 4 |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 7 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 2,505 | $ 1,170 |
Post-Modification Outstanding Recorded Investment | $ 2,241 | $ 964 |
Direct Installment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 527 | 489 |
Pre-Modification Outstanding Recorded Investment | $ 6,090 | $ 6,712 |
Post-Modification Outstanding Recorded Investment | $ 5,566 | $ 6,314 |
Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 45 | 45 |
Pre-Modification Outstanding Recorded Investment | $ 2,155 | $ 1,667 |
Post-Modification Outstanding Recorded Investment | $ 2,081 | $ 1,660 |
Indirect Installment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 19 | 17 |
Pre-Modification Outstanding Recorded Investment | $ 51 | $ 55 |
Post-Modification Outstanding Recorded Investment | $ 51 | $ 48 |
Consumer Lines of Credit [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 81 | 58 |
Pre-Modification Outstanding Recorded Investment | $ 1,419 | $ 950 |
Post-Modification Outstanding Recorded Investment | $ 1,283 | $ 832 |
Loans and Leases - Summary of89
Loans and Leases - Summary of Originated Troubled Debt Restructurings by Class of Loans and Leases, Payment Default (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($)Contract | Dec. 31, 2015USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 118 | 114 |
Recorded Investment | $ | $ 1,027 | $ 856 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 1 | |
Recorded Investment | $ | $ 26 | |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 1 | |
Recorded Investment | $ | $ 26 | |
Direct Installment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 90 | 97 |
Recorded Investment | $ | $ 313 | $ 510 |
Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 7 | 7 |
Recorded Investment | $ | $ 285 | $ 306 |
Indirect Installment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 18 | 9 |
Recorded Investment | $ | $ 35 | $ 14 |
Consumer Lines of Credit [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 3 | |
Recorded Investment | $ | $ 394 |
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 | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule Of Allowance For Loan Losses [Line Items] | |||
Balance at Beginning of Year | $ 142,012 | $ 125,926 | $ 110,784 |
Charge- Offs | (51,514) | (31,068) | (30,735) |
Recoveries | 11,809 | 6,713 | 7,229 |
Net Charge- Offs | (39,705) | (24,355) | (23,506) |
Provision for credit losses | 55,752 | 40,441 | 38,648 |
Balance at End of Year | 158,059 | 142,012 | 125,926 |
Originated Loans and Leases [Member] | |||
Schedule Of Allowance For Loan Losses [Line Items] | |||
Balance at Beginning of Year | 135,285 | 117,952 | 104,884 |
Charge- Offs | (50,466) | (30,174) | (27,248) |
Recoveries | 10,550 | 6,023 | 6,222 |
Net Charge- Offs | (39,916) | (24,151) | (21,026) |
Provision for credit losses | 55,422 | 41,484 | 34,094 |
Balance at End of Year | 150,791 | 135,285 | 117,952 |
Acquired Loans [Member] | |||
Schedule Of Allowance For Loan Losses [Line Items] | |||
Balance at Beginning of Year | 6,727 | 7,974 | 5,900 |
Charge- Offs | (1,048) | (894) | (3,487) |
Recoveries | 1,259 | 690 | 1,007 |
Net Charge- Offs | 211 | (204) | (2,480) |
Provision for credit losses | 330 | (1,043) | 4,554 |
Balance at End of Year | 7,268 | 6,727 | 7,974 |
Commercial Real Estate [Member] | |||
Schedule Of Allowance For Loan Losses [Line Items] | |||
Balance at Beginning of Year | 41,741 | 37,588 | 32,548 |
Charge- Offs | (6,657) | (4,443) | (6,568) |
Recoveries | 3,669 | 1,117 | 2,351 |
Net Charge- Offs | (2,988) | (3,326) | (4,217) |
Provision for credit losses | 7,882 | 7,479 | 9,257 |
Balance at End of Year | 46,635 | 41,741 | 37,588 |
Commercial and Industrial [Member] | |||
Schedule Of Allowance For Loan Losses [Line Items] | |||
Balance at Beginning of Year | 41,023 | 32,645 | 32,603 |
Charge- Offs | (19,584) | (3,562) | (3,454) |
Recoveries | 2,508 | 1,773 | 1,412 |
Net Charge- Offs | (17,076) | (1,789) | (2,042) |
Provision for credit losses | 24,044 | 10,167 | 2,084 |
Balance at End of Year | 47,991 | 41,023 | 32,645 |
Commercial Leases [Member] | |||
Schedule Of Allowance For Loan Losses [Line Items] | |||
Balance at Beginning of Year | 2,541 | 2,398 | 1,903 |
Charge- Offs | (962) | (544) | (415) |
Recoveries | 66 | 101 | 105 |
Net Charge- Offs | (896) | (443) | (310) |
Provision for credit losses | 1,635 | 586 | 805 |
Balance at End of Year | 3,280 | 2,541 | 2,398 |
Total Commercial Loans and Leases [Member] | |||
Schedule Of Allowance For Loan Losses [Line Items] | |||
Balance at Beginning of Year | 85,305 | 72,631 | 67,054 |
Charge- Offs | (27,203) | (8,549) | (10,437) |
Recoveries | 6,243 | 2,991 | 3,868 |
Net Charge- Offs | (20,960) | (5,558) | (6,569) |
Provision for credit losses | 33,561 | 18,232 | 12,146 |
Balance at End of Year | 97,906 | 85,305 | 72,631 |
Direct Installment [Member] | |||
Schedule Of Allowance For Loan Losses [Line Items] | |||
Balance at Beginning of Year | 21,587 | 20,538 | 17,824 |
Charge- Offs | (10,153) | (10,844) | (9,600) |
Recoveries | 1,822 | 1,527 | 1,163 |
Net Charge- Offs | (8,331) | (9,317) | (8,437) |
Provision for credit losses | 8,135 | 10,366 | 11,151 |
Balance at End of Year | 21,391 | 21,587 | 20,538 |
Residential Mortgages [Member] | |||
Schedule Of Allowance For Loan Losses [Line Items] | |||
Balance at Beginning of Year | 7,909 | 8,024 | 5,836 |
Charge- Offs | (441) | (1,010) | (760) |
Recoveries | 74 | 85 | 74 |
Net Charge- Offs | (367) | (925) | (686) |
Provision for credit losses | 2,540 | 810 | 2,874 |
Balance at End of Year | 10,082 | 7,909 | 8,024 |
Indirect Installment [Member] | |||
Schedule Of Allowance For Loan Losses [Line Items] | |||
Balance at Beginning of Year | 9,889 | 7,504 | 6,409 |
Charge- Offs | (7,855) | (6,427) | (3,627) |
Recoveries | 2,015 | 1,190 | 875 |
Net Charge- Offs | (5,840) | (5,237) | (2,752) |
Provision for credit losses | 6,515 | 7,622 | 3,847 |
Balance at End of Year | 10,564 | 9,889 | 7,504 |
Consumer Lines of Credit [Member] | |||
Schedule Of Allowance For Loan Losses [Line Items] | |||
Balance at Beginning of Year | 9,582 | 8,496 | 7,231 |
Charge- Offs | (2,085) | (1,653) | (1,495) |
Recoveries | 265 | 175 | 218 |
Net Charge- Offs | (1,820) | (1,478) | (1,277) |
Provision for credit losses | 1,694 | 2,564 | 2,542 |
Balance at End of Year | 9,456 | 9,582 | 8,496 |
Other [Member] | |||
Schedule Of Allowance For Loan Losses [Line Items] | |||
Balance at Beginning of Year | 1,013 | 759 | 530 |
Charge- Offs | (2,729) | (1,691) | (1,329) |
Recoveries | 131 | 55 | 24 |
Net Charge- Offs | (2,598) | (1,636) | (1,305) |
Provision for credit losses | 2,977 | 1,890 | 1,534 |
Balance at End of Year | 1,392 | 1,013 | 759 |
Purchased Credit-Impaired Loans [Member] | |||
Schedule Of Allowance For Loan Losses [Line Items] | |||
Balance at Beginning of Year | 834 | 660 | 1,000 |
Charge- Offs | (399) | (64) | (2,614) |
Recoveries | 42 | 19 | 1 |
Net Charge- Offs | (357) | (45) | (2,613) |
Provision for credit losses | 95 | 219 | 2,273 |
Balance at End of Year | 572 | 834 | 660 |
Other Acquired Loans [Member] | |||
Schedule Of Allowance For Loan Losses [Line Items] | |||
Balance at Beginning of Year | 5,893 | 7,314 | 4,900 |
Charge- Offs | (649) | (830) | (873) |
Recoveries | 1,217 | 671 | 1,006 |
Net Charge- Offs | 568 | (159) | 133 |
Provision for credit losses | 235 | (1,262) | 2,281 |
Balance at End of Year | $ 6,696 | $ 5,893 | $ 7,314 |
Allowance for Credit Losses -91
Allowance for Credit Losses - Summary of Individual and Collective Allowance for Credit Losses and Loan and Lease Balances by Class (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Valuation Allowance [Line Items] | ||
Allowance, Individually Evaluated for Impairment | $ 3,203 | $ 2,650 |
Allowance, Collectively Evaluated for Impairment | 147,588 | 132,635 |
Originated Loans and Leases | 14,896,943 | 12,190,440 |
Loans and Leases Outstanding, Individually Evaluated for Impairment | 34,719 | 23,706 |
Loans and Leases Outstanding, Collectively Evaluated for Impairment | 12,513,268 | 11,008,273 |
Commercial Real Estate [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Individually Evaluated for Impairment | 13 | 321 |
Allowance, Collectively Evaluated for Impairment | 46,622 | 41,420 |
Originated Loans and Leases | 5,435,162 | 4,109,056 |
Loans and Leases Outstanding, Individually Evaluated for Impairment | 12,973 | 12,904 |
Loans and Leases Outstanding, Collectively Evaluated for Impairment | 4,082,844 | 3,518,242 |
Commercial and Industrial [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Individually Evaluated for Impairment | 3,190 | 2,329 |
Allowance, Collectively Evaluated for Impairment | 44,801 | 38,694 |
Originated Loans and Leases | 3,042,781 | 2,601,722 |
Loans and Leases Outstanding, Individually Evaluated for Impairment | 21,746 | 10,802 |
Loans and Leases Outstanding, Collectively Evaluated for Impairment | 2,690,140 | 2,523,549 |
Commercial Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 3,280 | 2,541 |
Originated Loans and Leases | 196,636 | 204,553 |
Loans and Leases Outstanding, Collectively Evaluated for Impairment | 196,636 | 204,553 |
Total Commercial Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Individually Evaluated for Impairment | 3,203 | 2,650 |
Allowance, Collectively Evaluated for Impairment | 94,703 | 82,655 |
Originated Loans and Leases | 8,674,579 | 6,915,331 |
Loans and Leases Outstanding, Individually Evaluated for Impairment | 34,719 | 23,706 |
Loans and Leases Outstanding, Collectively Evaluated for Impairment | 6,969,620 | 6,246,344 |
Direct Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 21,391 | 21,587 |
Originated Loans and Leases | 1,844,399 | 1,706,636 |
Loans and Leases Outstanding, Collectively Evaluated for Impairment | 1,765,257 | 1,660,717 |
Residential Mortgages [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 10,082 | 7,909 |
Originated Loans and Leases | 1,844,574 | 1,395,971 |
Loans and Leases Outstanding, Collectively Evaluated for Impairment | 1,446,776 | 1,044,689 |
Indirect Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 10,564 | 9,889 |
Originated Loans and Leases | 1,196,313 | 996,729 |
Loans and Leases Outstanding, Collectively Evaluated for Impairment | 1,196,110 | 996,175 |
Consumer Lines of Credit [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 9,456 | 9,582 |
Originated Loans and Leases | 1,301,200 | 1,137,255 |
Loans and Leases Outstanding, Collectively Evaluated for Impairment | 1,099,627 | 1,021,830 |
Other [Member] | ||
Valuation Allowance [Line Items] | ||
Allowance, Collectively Evaluated for Impairment | 1,392 | 1,013 |
Originated Loans and Leases | 35,878 | 38,518 |
Loans and Leases Outstanding, Collectively Evaluated for Impairment | 35,878 | 38,518 |
Originated Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Loans and Leases | 12,547,987 | 11,031,979 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Loans and Leases | 4,095,817 | 3,531,146 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Loans and Leases | 2,711,886 | 2,534,351 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Loans and Leases | 196,636 | 204,553 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Loans and Leases | 7,004,339 | 6,270,050 |
Originated Loans and Leases [Member] | Direct Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Loans and Leases | 1,765,257 | 1,660,717 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Loans and Leases | 1,446,776 | 1,044,689 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Loans and Leases | 1,196,110 | 996,175 |
Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Loans and Leases | 1,099,627 | 1,021,830 |
Originated Loans and Leases [Member] | Other [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Loans and Leases | $ 35,878 | $ 38,518 |
Premises and Equipment - Summar
Premises and Equipment - Summary of Premises and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property Plant and Equipment Useful Life and Values [Abstract] | ||
Land | $ 45,640 | $ 33,023 |
Premises | 186,784 | 143,757 |
Equipment | 174,325 | 130,066 |
Property Plant and Equipment Gross | 406,749 | 306,846 |
Accumulated depreciation | (162,793) | (147,766) |
Total premises and equipment, net | $ 243,956 | $ 159,080 |
Premises and Equipment - Deprec
Premises and Equipment - Depreciation Expense for Premises and Equipment (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense for premises and equipment | $ 23,355 | $ 20,009 | $ 18,671 |
Premises and Equipment - Schedu
Premises and Equipment - Schedule of Rent Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Leases, Rent Expense, Net [Abstract] | |||
Rental expense | $ 21,015 | $ 16,193 | $ 14,564 |
Premises and Equipment - Summ95
Premises and Equipment - Summary of Future Minimum Lease Payments (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Property Plant and Equipment Useful Life and Values [Abstract] | |
2,017 | $ 20,141 |
2,018 | 17,927 |
2,019 | 15,490 |
2,020 | 12,979 |
2,021 | 10,912 |
Later years | 55,128 |
Total minimum rental commitment under leases | $ 132,577 |
Goodwill and Other Intangible96
Goodwill and Other Intangible Assets - Rollforward of Goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | $ 833,086 | $ 832,213 |
Goodwill (deductions) additions | 199,043 | 873 |
Goodwill, Ending Balance | 1,032,129 | 833,086 |
Community Banking [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 812,399 | 813,434 |
Goodwill (deductions) additions | 199,200 | (1,035) |
Goodwill, Ending Balance | 1,011,599 | 812,399 |
Wealth Management [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 8,020 | 8,020 |
Goodwill, Ending Balance | 8,020 | 8,020 |
Insurance [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 10,858 | 8,950 |
Goodwill (deductions) additions | (157) | 1,908 |
Goodwill, Ending Balance | 10,701 | 10,858 |
Consumer Finance [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 1,809 | 1,809 |
Goodwill, Ending Balance | $ 1,809 | $ 1,809 |
Goodwill and Other Intangible97
Goodwill and Other Intangible Assets - Summary of Core Deposit Intangibles, Customer Renewal Lists and Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | $ 172,152 | $ 136,711 |
Accumulated amortization | (104,825) | (91,067) |
Net carrying amount | 67,327 | 45,644 |
Core Deposit Intangibles [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 139,886 | 111,594 |
Accumulated amortization | (89,888) | (79,362) |
Net carrying amount | 49,998 | 32,232 |
Customer Renewal Lists [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 12,352 | 12,351 |
Accumulated amortization | (8,544) | (7,860) |
Net carrying amount | 3,808 | 4,491 |
Mortgage Servicing Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 19,914 | 12,766 |
Accumulated amortization | (6,393) | (3,845) |
Net carrying amount | $ 13,521 | $ 8,921 |
Goodwill and Other Intangible98
Goodwill and Other Intangible Assets - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2016 | |
Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period of intangible assets, years | 8 years |
Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period of intangible assets, years | 13 years |
Core Deposit Intangibles [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period of intangible assets, years | 10 years |
Customer Renewal Lists [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period of intangible assets, years | 8 years |
Customer Renewal Lists [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period of intangible assets, years | 13 years |
Mortgage Servicing Rights [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period of intangible assets, years | 8 years |
Mortgage Servicing Rights [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period of intangible assets, years | 13 years |
Goodwill and Other Intangible99
Goodwill and Other Intangible Assets - Schedule of Amortization Expense Recognized (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization expense of other core deposit intangibles and customer renewal lists | $ 11,210 | $ 8,305 | $ 9,717 |
Amortization expense of mortgage servicing rights | 2,548 | 2,250 | 2,593 |
Total amortization of intangibles | $ 13,758 | $ 10,555 | $ 12,310 |
Goodwill and Other Intangibl100
Goodwill and Other Intangible Assets - Schedule of Expected Amortization Expense on Finite-Lived Intangible Assets (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2,017 | $ 12,362 |
2,018 | 9,864 |
2,019 | 8,608 |
2,020 | 7,894 |
2,021 | 7,032 |
Total | $ 45,760 |
Deposits - Summary of Deposits
Deposits - Summary of Deposits (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deposits [Abstract] | ||
Non-interest-bearing demand | $ 4,205,337 | $ 3,059,949 |
Interest-bearing demand | 6,931,381 | 5,311,589 |
Savings | 2,352,434 | 1,786,459 |
Less than $100,000 | 1,680,068 | 1,390,619 |
$100,000 through $250,000 | 642,509 | 861,042 |
Greater than $250,000 | 253,918 | 213,805 |
Total Deposits | $ 16,065,647 | $ 12,623,463 |
Deposits - Time Deposits by Rem
Deposits - Time Deposits by Remaining Maturity (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Time Deposits [Line Items] | |
Three months or less | $ 103,710 |
Three to six months | 106,375 |
Six to twelve months | 174,391 |
Over twelve months | 511,951 |
Total | 896,427 |
Certificates of Deposit [Member] | |
Time Deposits [Line Items] | |
Three months or less | 94,704 |
Three to six months | 98,110 |
Six to twelve months | 157,512 |
Over twelve months | 394,627 |
Total | 744,953 |
Other Time Deposits [Member] | |
Time Deposits [Line Items] | |
Three months or less | 9,006 |
Three to six months | 8,265 |
Six to twelve months | 16,879 |
Over twelve months | 117,324 |
Total | $ 151,474 |
Deposits - Summary of Scheduled
Deposits - Summary of Scheduled Maturities of Certificates and Other Time Deposits (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Time Deposits Maturities, after Next Twelve Months [Abstract] | ||
2,017 | $ 1,299,330 | |
2,018 | 473,266 | |
2,019 | 290,092 | |
2,020 | 246,590 | |
2,021 | 132,960 | |
Later years | 134,257 | |
Total | $ 2,576,495 | $ 2,465,466 |
Short-Term Borrowings - Summary
Short-Term Borrowings - Summary of Short-Term Borrowings (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Disclosure [Abstract] | ||
Securities sold under repurchase agreements | $ 313,062 | $ 266,732 |
Federal Home Loan Bank advances | 1,025,000 | 1,090,000 |
Federal funds purchased | 1,037,000 | 568,000 |
Subordinated notes | 127,948 | 124,164 |
Total short-term borrowings | $ 2,503,010 | $ 2,048,896 |
Short-Term Borrowings - Schedul
Short-Term Borrowings - Schedule of Weighted Average Interest Rates on Short-Term Borrowings (Detail) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Debt Disclosure [Abstract] | |||
Year-to-date average | 0.61% | 0.42% | 0.39% |
Period-end | 0.69% | 0.48% | 0.37% |
Long-Term Borrowings - Summary
Long-Term Borrowings - Summary of Long-Term Borrowings (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Disclosure [Abstract] | ||
Federal Home Loan Bank advances | $ 305,110 | $ 400,017 |
Subordinated notes | 87,147 | 84,668 |
Junior subordinated debt | 48,600 | 58,298 |
Other subordinated debt | 98,637 | 98,497 |
Total long-term borrowings | $ 539,494 | $ 641,480 |
Long-Term Borrowings - Schedule
Long-Term Borrowings - Scheduled Annual Maturities for Long-Term Borrowings (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Disclosure [Abstract] | ||
2,017 | $ 179,147 | |
2,018 | 61,800 | |
2,019 | 43,557 | |
2,020 | 49,339 | |
2,021 | 47,665 | |
Later years | 157,986 | |
Total long-term borrowings | $ 539,494 | $ 641,480 |
Long-Term Borrowings - Addition
Long-Term Borrowings - Additional Information (Detail) | 1 Months Ended | 12 Months Ended | |
Oct. 31, 2015USD ($) | Dec. 31, 2016USD ($)Trust | Dec. 31, 2015 | |
Debt Instrument [Line Items] | |||
Number of unconsolidated subsidiary trusts | Trust | 2 | ||
Percent of the common equity of each Trust owned by the Corporation | 100.00% | ||
FHLB [Member] | |||
Debt Instrument [Line Items] | |||
Credit available with FHLB | $ 5,800,000,000 | ||
Credit with FHLB used | $ 1,300,000,000 | ||
Federal Home Loan Bank advances are scheduled to mature periodically through the year | 2,021 | ||
Omega Financial Capital Trust I [Member] | |||
Debt Instrument [Line Items] | |||
Redemption of Corporation Issued TPS | $ 10,000,000 | ||
4.875% Subordinated Notes Due in 2025 [Member] | |||
Debt Instrument [Line Items] | |||
Aggregate principal amount | $ 100,000,000 | ||
Debt instrument interest rate percentage | 4.875% | ||
Proceeds from issuance of notes | $ 98,400,000 | ||
Minimum [Member] | FHLB [Member] | |||
Debt Instrument [Line Items] | |||
Effective interest rates | 0.95% | 0.76% | |
Minimum [Member] | Subordinated Notes [Member] | |||
Debt Instrument [Line Items] | |||
Months prior to maturity, interest discount | 3 months | ||
Maximum [Member] | FHLB [Member] | |||
Debt Instrument [Line Items] | |||
Effective interest rates | 4.19% | 4.19% | |
Maximum [Member] | Subordinated Notes [Member] | |||
Debt Instrument [Line Items] | |||
Months prior to maturity, interest discount | 12 months |
Long-Term Borrowings - Summa109
Long-Term Borrowings - Summary of Weighted Average Interest Rate on Subordinated Notes (Detail) | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Debt Disclosure [Abstract] | |||
Subordinated notes weighted average interest rate | 2.71% | 2.73% | 2.70% |
Long-Term Borrowings - Junior S
Long-Term Borrowings - Junior Subordinated Debt Trusts (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 48,600 | $ 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 | 2.61% | |
Description of variable rate | Variable; 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 | $ 26,435 | |
Stated Maturity Date | Oct. 18, 2034 | |
Interest Rate | 3.07% | |
Description of variable rate | Variable; 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 Instruments and H111
Derivative Instruments and Hedging Activities - Schedule of Notional Amounts and Gross Fair Values of Derivative Assets and Derivative Liabilities (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Derivatives, Fair Value [Line Items] | ||
Notional amount | $ 4,005,212,000 | $ 2,893,041,000 |
Fair value, asset | 54,220,000 | 53,202,000 |
Liability | 47,267,000 | 51,605,000 |
Credit Risk Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value, asset | 13,000 | 7,000 |
Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 2,140,337,000 | 1,514,144,000 |
Fair value, asset | 22,037,000 | 3,197,000 |
Liability | 35,217,000 | 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 | 9,256,000 | 3,178,000 |
Liability | 1,171,000 | 962,000 |
Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,689,157,000 | 1,262,964,000 |
Fair value, asset | 12,720,000 | 1,000 |
Liability | 34,046,000 | 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 | 61,000 | 18,000 |
Not Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,864,875,000 | 1,378,897,000 |
Fair value, asset | 32,183,000 | 50,005,000 |
Liability | 12,050,000 | 152,000 |
Not Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,689,157,000 | 1,262,964,000 |
Fair value, asset | 32,170,000 | 49,998,000 |
Liability | 11,866,000 | 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 | 61,000 | 18,000 |
Not Subject to Master Netting Arrangements [Member] | Credit Risk Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 174,538,000 | 114,753,000 |
Fair value, asset | 13,000 | 7,000 |
Liability | $ 123,000 | $ 133,000 |
Derivative Instruments and H112
Derivative Instruments and Hedging Activities - Summary of Key Data Related to Interest Rate (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | $ 4,005,212,000 | $ 2,893,041,000 |
Fair value included in other assets | 54,220,000 | 53,202,000 |
Fair value included in other liabilities | 47,267,000 | 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 | 1,171,000 | 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 | 9,256,000 | 3,178,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 3,378,314,000 | 2,525,928,000 |
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 | 45,912,000 | 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 | $ 44,890,000 | $ 49,999,000 |
Derivative Instrument and Hedgi
Derivative Instrument and Hedging Activities - Summary of Amounts Reclassified from Accumulated Other Comprehensive Income (AOCI) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | |||
Reclassified from AOCI to interest expense | $ 67,451 | $ 48,573 | $ 42,686 |
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 | 2,659 | 3,248 | |
Reclassified from AOCI to interest expense | 703 | 292 | |
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 | 1,728 | 2,111 | |
Reclassified from AOCI to interest expense | $ 457 | $ 189 |
Derivative Instruments and H114
Derivative Instruments and Hedging Activities - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Derivative [Line Items] | ||
Notional amount | $ 4,005,212,000 | $ 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 | 125,600,000 | |
Maximum exposure under credit risk agreement assuming customer default | $ 100,000 | $ 100,000 |
Credit Risk Contract Sold [Member] | Minimum [Member] | ||
Derivative [Line Items] | ||
Risk participation agreements, term | 2 months | |
Credit Risk Contract Sold [Member] | Maximum [Member] | ||
Derivative [Line Items] | ||
Risk participation agreements, term | 14 years |
Derivative Instruments and H115
Derivative Instruments and Hedging Activities - Offsetting of Derivative Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Derivatives, Fair Value [Line Items] | ||
Gross Amount | $ 54,220 | $ 53,202 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 54,220 | 53,202 |
Credit Risk Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 13 | 7 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 13 | 7 |
Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 22,037 | 3,197 |
Subject to Master Netting Arrangements [Member] | Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 9,256 | 3,178 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 9,256 | 3,178 |
Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 12,720 | 1 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 12,720 | 1 |
Subject to Master Netting Arrangements [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 61 | 18 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 61 | 18 |
Not Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 32,183 | 50,005 |
Not Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 32,170 | 49,998 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 32,170 | 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 | $ 13 | $ 7 |
Derivative Instruments and H116
Derivative Instruments and Hedging Activities - Offsetting of Derivative Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Derivatives, Fair Value [Line Items] | ||
Gross Amount | $ 47,267 | $ 51,605 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 47,267 | 51,605 |
Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 35,217 | 51,453 |
Subject to Master Netting Arrangements [Member] | Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 1,171 | 962 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 1,171 | 962 |
Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 34,046 | 50,491 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 34,046 | 50,491 |
Not Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 12,050 | 152 |
Not Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 11,866 | 1 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 11,866 | 1 |
Not Subject to Master Netting Arrangements [Member] | Credit Risk Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 123 | 133 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 123 | 133 |
Not Subject to Master Netting Arrangements [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 61 | 18 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | $ 61 | $ 18 |
Derivative Instruments and H117
Derivative Instruments and Hedging Activities - Derivative Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 54,220 | $ 53,202 |
Subject to Master Netting Arrangements [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 22,037 | 3,197 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 1,378 | 1,535 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 20,545 | 1,662 |
Net Amount, Derivative Assets | 114 | |
Subject to Master Netting Arrangements [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 9,256 | 3,178 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 843 | 1,516 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 8,413 | 1,662 |
Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 12,720 | 1 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 474 | 1 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 12,132 | |
Net Amount, Derivative Assets | 114 | |
Subject to Master Netting Arrangements [Member] | Equity Contracts [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 61 | 18 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | $ 61 | $ 18 |
Derivative Instruments and H118
Derivative Instruments and Hedging Activities - Derivative Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 47,267 | $ 51,605 |
Subject to Master Netting Arrangements [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 35,217 | 51,453 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 16,661 | 25,371 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | 17,651 | 24,802 |
Net Amount, Derivative Liabilities | 905 | 1,280 |
Subject to Master Netting Arrangements [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 1,171 | 962 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 1,171 | 792 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | 170 | |
Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 34,046 | 50,491 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 15,490 | 24,579 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | 17,651 | 24,632 |
Net Amount, Derivative Liabilities | $ 905 | $ 1,280 |
Derivative Instruments and H119
Derivative Instruments and Hedging Activities - Effect of Derivative Financial Instruments on Income Statement (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Interest Rate Contracts [Member] | Interest Income - Loans and Leases [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | $ 2,659 | $ 3,248 |
Interest Rate Contracts [Member] | Interest Expense - Short-term Borrowings [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | 703 | 292 |
Interest Rate Swap [Member] | Other Income [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | (529) | (451) |
Credit Risk Contracts [Member] | Other Income [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | $ 16 | $ (126) |
Commitments, Credit Risk and120
Commitments, Credit Risk and Contingencies - Summary of Off-Balance Sheet Credit Risk Information (Detail) - USD ($) $ in Thousands | Dec. 31, 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 | $ 4,424,834 | $ 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 | $ 117,732 | $ 92,979 |
Commitments, Credit Risk and121
Commitments, Credit Risk and Contingencies - Additional Information (Detail) | Dec. 31, 2016 |
Commitments and Contingencies Disclosure [Abstract] | |
Percentage of Commitments to extend credit dependent upon the financial condition of the customers | 78.10% |
Stock Incentive Plans - Additio
Stock Incentive Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | 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 | 664,337 | 387,165 | |||
Common stock shares available under incentive compensation plans | 3,238,464 | |||||
Unrecognized compensation expense | $ 9,899 | |||||
Intrinsic value of outstanding and exercisable stock options | $ 6,200 | |||||
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 | $ 3.14 | |||||
Warrant issued | 342,564 | |||||
Warrants converted to purchase common stock | 389,724 | |||||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized compensation expense | $ 9,900 | |||||
Amount subject to accelerated vesting under Incentive Compensation Plan | $ 400 | |||||
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 | $ 4,620 | |||||
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 | 400,436 | ||||
Unrecognized compensation expense | $ 5,279 | |||||
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% | |||||
Discretionary Service Based Awards [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period of awards issued, years | 5 years | |||||
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% |
Stock Incentive Plans - Schedul
Stock Incentive Plans - Schedule of Issuance of Restricted Stock Awards and Aggregate Weighted Average Grant Date Fair Values (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Restricted stock awards | 574,125 | 664,337 | 387,165 |
Weighted average grant date fair values | $ 7,383 | $ 8,802 | $ 5,227 |
Stock Incentive Plans - Summary
Stock Incentive Plans - Summary of Information Concerning Restricted Stock Awards (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Shares, Unvested shares outstanding at beginning of year | 1,548,444 | 1,354,093 | 1,729,033 |
Shares, Granted | 574,125 | 664,337 | 387,165 |
Shares, Net adjustment due to performance | 72,070 | 13,115 | (36,600) |
Shares, Vested | (384,704) | (484,010) | (707,074) |
Shares, Forfeited | (31,394) | (41,130) | (65,399) |
Shares, Dividend reinvestment | 57,822 | 42,039 | 46,968 |
Shares, Unvested shares outstanding at end of year | 1,836,363 | 1,548,444 | 1,354,093 |
Weighted Average Grant Price per Share, Unvested Shares outstanding at beginning of year | $ 12.85 | $ 11.86 | $ 10.23 |
Weighted Average Grant Price per Share, Granted | 12.86 | 13.25 | 13.50 |
Weighted Average Grant Price per Share, Net adjustment due to performance | 11.79 | 19.74 | 12.01 |
Weighted Average Grant Price per Share, Vested | 12.11 | 10.70 | 8.81 |
Weighted Average Grant Price per Share, Forfeited | 13.02 | 13.24 | 11.72 |
Weighted Average Grant Price per Share, Dividend reinvestment | 13.08 | 11.86 | 12.66 |
Weighted Average Grant Price per Share, Unvested Shares outstanding at end of year | $ 12.97 | $ 12.85 | $ 11.86 |
Stock Incentive Plans - Sche125
Stock Incentive Plans - Schedule of Certain Information Related to Restricted Stock Awards (Detail) - Restricted Stock [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | $ 7,066 | $ 4,461 | $ 3,584 |
Tax benefit associated with compensation expense | 2,473 | 1,561 | 1,254 |
Fair value of awards vested | $ 4,587 | $ 6,070 | $ 10,713 |
Stock Incentive Plans - Compone
Stock Incentive Plans - Components of Restricted Stock Awards (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested restricted stock awards | 1,836,363 | 1,548,444 | 1,354,093 | 1,729,033 |
Unrecognized compensation expense | $ 9,899 | |||
Intrinsic value | $ 29,437 | |||
Weighted average remaining life (in years) | 1 year 11 months 1 day | |||
Service-Based Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested restricted stock awards | 839,106 | |||
Unrecognized compensation expense | $ 4,620 | |||
Intrinsic value | $ 13,451 | |||
Weighted average remaining life (in years) | 1 year 10 months 13 days | |||
Performance-Based Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested restricted stock awards | 997,257 | |||
Unrecognized compensation expense | $ 5,279 | |||
Intrinsic value | $ 15,986 | |||
Weighted average remaining life (in years) | 1 year 11 months 19 days |
Stock Incentive Plans - Summ127
Stock Incentive Plans - Summary of Activity Related to Stock Options Awards (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Shares, Options outstanding at beginning of year | 435,340 | 568,834 | 533,524 |
Shares, Assumed from acquisitions | 1,707,036 | 805,507 | |
Shares, Exercised | (1,128,075) | (93,822) | (690,973) |
Shares, Forfeited | (121,769) | (39,672) | (79,224) |
Shares, Options outstanding and exercisable at end of year | 892,532 | 435,340 | 568,834 |
Weighted Average Price per Share, Options outstanding at beginning of year | $ 8.86 | $ 8.86 | $ 11.50 |
Weighted Average Price per Share, Assumed from acquisition | 7.83 | 7.39 | |
Weighted Average Price per Share, Exercised | 7.18 | 5.94 | 7.75 |
Weighted Average Price per Share, Forfeited | 9.33 | 15.66 | 21.40 |
Weighted Average Price per Share, Options outstanding and exercisable at end of year | $ 8.95 | $ 8.86 | $ 8.86 |
Stock Incentive Plans - Summ128
Stock Incentive Plans - Summary of Stock Options Outstanding (Detail) | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding and Exercisable | shares | 892,532 |
$3.45 - $5.18 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding and Exercisable | shares | 195,134 |
Range of Exercise Prices, Minimum | $ 3.45 |
Range of Exercise Prices, Maximum | 5.18 |
Weighted Average Exercise Price | $ 4.88 |
Weighted Average Remaining Contractual Years | 3 years 3 months 15 days |
$5.19 - $7.78 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding and Exercisable | shares | 140,179 |
Range of Exercise Prices, Minimum | $ 5.19 |
Range of Exercise Prices, Maximum | 7.78 |
Weighted Average Exercise Price | $ 6.82 |
Weighted Average Remaining Contractual Years | 3 years 7 months 24 days |
$7.79 - $11.68 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding and Exercisable | shares | 337,780 |
Range of Exercise Prices, Minimum | $ 7.79 |
Range of Exercise Prices, Maximum | 11.68 |
Weighted Average Exercise Price | $ 10.06 |
Weighted Average Remaining Contractual Years | 4 years 10 months 28 days |
$11.69 - $13.54 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding and Exercisable | shares | 219,439 |
Range of Exercise Prices, Minimum | $ 11.69 |
Range of Exercise Prices, Maximum | 13.54 |
Weighted Average Exercise Price | $ 12.23 |
Weighted Average Remaining Contractual Years | 8 months 23 days |
Stock Incentive Plans - Summ129
Stock Incentive Plans - Summary of Stock Options Exercised (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Proceeds from stock options exercised | $ 7,816 | $ 557 | $ 3,292 |
Tax benefit recognized from stock options exercised | 1,862 | 130 | 808 |
Intrinsic value of stock options exercised | $ 6,577 | $ 693 | $ 3,289 |
Retirement Plans - Additional I
Retirement Plans - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2016USD ($)RetirementPlansshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2008 | |
Retirement Plans [Line Items] | |||
Number of supplemental non-qualified retirement plans sponsored by the Corporation | RetirementPlans | 2 | ||
Consecutive calendar years used to calculate BRP benefits | 5 years | ||
Term of employment for consideration of BRP | 10 years | ||
Annuity equivalent of contribution to defined contribution plan deducted from monthly benefit of basic retirement plan | 3.00% | ||
Percentage of non callable corporate bonds | A yield-curve based approach. A yield curve was produced for a universe containing the majority of U.S.-issued Aa-graded corporate bonds, all of which were non-callable (or callable with make-whole provisions), and after excluding the 10% of the bonds with the highest and lowest yields. | ||
Benefits paid | $ 7,936,000 | $ 8,411,000 | |
Employer contributions to the qualified pension plans | $ 0 | 0 | |
Percent of employer match | 100.00% | ||
Employee contribution percentage | 6.00% | ||
Additional discretionary contribution, annual financial goals, percentage | 3.00% | ||
Dividends received on common stock | $ 276,000 | $ 276,000 | |
Equity Securities [Member] | |||
Retirement Plans [Line Items] | |||
Common stock, shares | shares | 575,128 | 575,128 | |
Percentage of common stock on total plan assets | 6.70% | 5.80% | |
Qualified Pension Plans [Member] | |||
Retirement Plans [Line Items] | |||
Benefits paid | $ 6,600,000 | $ 7,000,000 | |
Non-Qualified Pension Plans [Member] | |||
Retirement Plans [Line Items] | |||
Benefits paid | $ 1,300,000 | $ 1,400,000 |
Retirement Plans - Schedule of
Retirement Plans - Schedule of Accumulated Benefit Obligation, Change in Benefit Obligation, Change in Plan Assets, Plans' Funded Status and Amount Included in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | ||
Accumulated benefit obligation | $ 152,586 | $ 150,754 |
Projected benefit obligation at beginning of year | 151,015 | 156,924 |
Service cost | (15) | (14) |
Interest cost | 6,129 | 5,897 |
Actuarial loss (gain) | 3,723 | (3,381) |
Benefits paid | (7,936) | (8,411) |
Projected benefit obligation at end of year | 152,916 | 151,015 |
Fair value of plan assets at beginning of year | 132,762 | 140,140 |
Actual return on plan assets | 10,787 | (331) |
Corporation contribution | 1,345 | 1,364 |
Benefits paid | (7,936) | (8,411) |
Fair value of plan assets at end of year | 136,958 | 132,762 |
Funded status of plans | $ (15,958) | $ (18,253) |
Retirement Plans - Schedule 132
Retirement Plans - Schedule of Actuarial Assumptions Used in Determination of Projected Benefit Obligation (Detail) | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule Of Sale Of Subsidiary [Abstract] | ||
Weighted average discount rate | 3.96% | 4.19% |
Rates of average increase in compensation levels | 3.50% | 3.50% |
Retirement Plans - Schedule 133
Retirement Plans - Schedule of Net Periodic Pension Cost and Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ (15) | $ (14) | |
Interest cost | 6,129 | 5,897 | |
Defined Benefit Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | (15) | (14) | $ 62 |
Interest cost | 6,129 | 5,897 | 6,411 |
Expected return on plan assets | (9,413) | (9,964) | (9,946) |
Transition amount amortization | (21) | ||
Prior service credit amortization | 7 | 7 | 7 |
Actuarial loss amortization | 2,383 | 2,112 | 1,367 |
Net periodic pension income | (909) | (1,962) | (2,120) |
Current year actuarial loss (gain) | 2,349 | 6,914 | 21,586 |
Amortization of actuarial loss | (2,383) | (2,112) | (1,367) |
Amortization of prior service credit | (7) | (7) | (7) |
Amortization of transition asset | 21 | ||
Total amount recognized in other comprehensive income | (41) | 4,795 | 20,233 |
Total amount recognized in net periodic benefit cost and other comprehensive income | $ (950) | $ 2,833 | $ 18,113 |
Retirement Plans - Schedule 134
Retirement Plans - Schedule of Actuarial Assumptions Used in Determination of Net Periodic Pension Cost (Detail) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | |||
Weighted average discount rate | 4.19% | 3.85% | 4.67% |
Rates of increase in compensation levels | 3.50% | 3.50% | 4.00% |
Expected long-term rate of return on assets | 7.25% | 7.25% | 7.25% |
Retirement Plans - Schedule 135
Retirement Plans - Schedule of Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for Qualified and Non-Qualified Pension Plans (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Defined Benefit Plan Disclosure [Line Items] | |||
Projected benefit obligation | $ 152,916 | $ 151,015 | $ 156,924 |
Accumulated benefit obligation | 152,586 | 150,754 | |
Fair value of plan assets | 136,958 | 132,762 | $ 140,140 |
Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Projected benefit obligation | 132,902 | 130,797 | |
Accumulated benefit obligation | 132,902 | 130,797 | |
Fair value of plan assets | 136,958 | 132,762 | |
Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Projected benefit obligation | 20,014 | 20,218 | |
Accumulated benefit obligation | $ 19,684 | $ 19,957 |
Retirement Plans - Schedule 136
Retirement Plans - Schedule of Impact of Changes in Discount Rate, Return on Plan Assets on Pension Expense (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Compensation and Retirement Disclosure [Abstract] | |
0.5% decrease in the discount rate, Estimated Effect on Pension Expense | $ (24) |
0.5% decrease in the expected long-term rate of return on plan assets, Estimated Effect on Pension Expense | $ 649 |
Retirement Plans - Schedule 137
Retirement Plans - Schedule of Estimated Future Cash Flows (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Compensation and Retirement Disclosure [Abstract] | |
Expected employer contributions: 2017 | $ 1,356 |
Expected benefit payments: 2017 | 7,631 |
Expected benefit payments: 2018 | 8,305 |
Expected benefit payments: 2019 | 8,532 |
Expected benefit payments: 2020 | 8,739 |
Expected benefit payments: 2021 | 9,011 |
Expected benefit payments: 2022 - 2026 | $ 46,689 |
Retirement Plans - Schedule 138
Retirement Plans - Schedule of Contribution Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | |||
401(k) contribution expense | $ 9,069 | $ 8,055 | $ 10,188 |
Retirement Plans - Schedule 139
Retirement Plans - Schedule of Asset Allocations for Pension Plans (Detail) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation Range, Minimum | 45.00% | |
Target Allocation Range, Maximum | 65.00% | |
Percentage of Plan Assets | 61.00% | 57.00% |
Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation Range, Minimum | 30.00% | |
Target Allocation Range, Maximum | 50.00% | |
Percentage of Plan Assets | 35.00% | 39.00% |
Cash Equivalents [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation Range, Minimum | 0.00% | |
Target Allocation Range, Maximum | 10.00% | |
Percentage of Plan Assets | 4.00% | 4.00% |
Retirement Plans - Schedule 140
Retirement Plans - Schedule of Fair Value of Pension Plan Assets by Asset Category (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 136,958 | $ 132,762 | $ 140,140 |
Other [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5,928 | 5,540 | |
Cash Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5,125 | 4,847 | |
Fixed Income Securities [Member] | U.S. Government Agencies [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 36,891 | 40,735 | |
F.N.B. Corporation [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 9,219 | 7,672 | |
Other Large-Cap U.S. Financial Services Companies [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2,999 | 2,541 | |
Other Large-Cap U.S. Companies [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 36,570 | 33,387 | |
International Companies [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 718 | 521 | |
Other Equity [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 596 | 596 | |
Non-U.S. Equities Growth Fund [Member] | Mutual Fund Equity Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 9,555 | 9,613 | |
U.S. Investment-Grade Fixed Income Securities [Member] | Fixed Income Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 10,766 | 10,648 | |
Non-U.S. Fixed Income Securities [Member] | Fixed Income Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 414 | 412 | |
U.S. Large-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 559 | 511 | |
U.S. Small-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,035 | 2,607 | |
U.S. Mid-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,795 | 3,464 | |
U.S. Mid-Cap [Member] | U.S. Equity Funds [Member] | Mutual Fund Equity Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7,615 | 6,989 | |
U.S. Small-Cap [Member] | U.S. Equity Funds [Member] | Mutual Fund Equity Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,173 | 2,679 | |
Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 100,067 | 92,027 | |
Level 1 [Member] | Other [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5,928 | 5,540 | |
Level 1 [Member] | Cash Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5,125 | 4,847 | |
Level 1 [Member] | F.N.B. Corporation [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 9,219 | 7,672 | |
Level 1 [Member] | Other Large-Cap U.S. Financial Services Companies [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2,999 | 2,541 | |
Level 1 [Member] | Other Large-Cap U.S. Companies [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 36,570 | 33,387 | |
Level 1 [Member] | International Companies [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 718 | 521 | |
Level 1 [Member] | Other Equity [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 596 | 596 | |
Level 1 [Member] | Non-U.S. Equities Growth Fund [Member] | Mutual Fund Equity Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 9,555 | 9,613 | |
Level 1 [Member] | U.S. Investment-Grade Fixed Income Securities [Member] | Fixed Income Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 10,766 | 10,648 | |
Level 1 [Member] | Non-U.S. Fixed Income Securities [Member] | Fixed Income Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 414 | 412 | |
Level 1 [Member] | U.S. Large-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 559 | 511 | |
Level 1 [Member] | U.S. Small-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,035 | 2,607 | |
Level 1 [Member] | U.S. Mid-Cap Equity Index Funds [Member] | U.S. Equity Index Funds [Member] | Mutual Fund Equity Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,795 | 3,464 | |
Level 1 [Member] | U.S. Mid-Cap [Member] | U.S. Equity Funds [Member] | Mutual Fund Equity Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7,615 | 6,989 | |
Level 1 [Member] | U.S. Small-Cap [Member] | U.S. Equity Funds [Member] | Mutual Fund Equity Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,173 | 2,679 | |
Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 36,891 | 40,735 | |
Level 2 [Member] | Fixed Income Securities [Member] | U.S. Government Agencies [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 36,891 | $ 40,735 |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Tax Expense Allocated Based on Separate Tax Return Basis (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Current income taxes: Federal taxes | $ 57,894 | $ 69,572 | $ 18,111 |
Current income taxes: State taxes | 2,329 | 989 | 396 |
Total current income taxes | 60,223 | 70,561 | 18,507 |
Deferred income taxes: Federal taxes | 14,983 | 63 | 44,113 |
Deferred income taxes: State taxes | 291 | (631) | |
Total deferred income taxes | 15,274 | (568) | 44,113 |
Total income taxes | $ 75,497 | $ 69,993 | $ 62,620 |
Income Taxes - Income Tax Expen
Income Taxes - Income Tax Expense Related to Gains on Sale of Securities (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Income tax expense related to gains on sale of securities | $ 249 | $ 288 | $ 4,101 |
Income Taxes - Summary of Defer
Income Taxes - Summary of Deferred Tax Assets and Liabilities from Tax Effects of Temporary Differences (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Income Tax Disclosure [Abstract] | ||
Allowance for credit losses | $ 56,090 | $ 50,414 |
Discount on acquired loans | 48,978 | 28,503 |
Net operating loss/tax credit carryforwards | 17,753 | 16,487 |
Deferred compensation | 12,236 | 8,515 |
Securities impairments | 252 | |
Pension and other defined benefit plans | 7,713 | 8,539 |
Net unrealized securities losses | 6,972 | 1,301 |
Other | 11,264 | 8,020 |
Total | 161,006 | 122,031 |
Valuation allowance | (18,945) | (17,179) |
Total deferred tax assets | 142,061 | 104,852 |
Loan costs | (2,222) | (2,966) |
Depreciation | (12,392) | (10,836) |
Prepaid expenses | (682) | (628) |
Amortizable intangibles | (18,506) | (12,940) |
Lease financing | (5,538) | (6,763) |
Debt discharge income deferral | (1,361) | (2,042) |
Originated mortgage servicing rights | (748) | (1,238) |
Fair value adjustments on securities | (86) | |
Other | (1,253) | (1,928) |
Total deferred tax liabilities | (42,788) | (39,341) |
Net deferred tax assets | $ 99,273 | $ 65,511 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2014 | |
Income Tax Contingency [Line Items] | |||
Reversal of valuation allowance recorded against state deferred taxes | $ 1,900,000 | ||
Unrecognized tax benefits | 455,000 | $ 542,000 | $ 401,000 |
Unrecognized tax benefits relating to accrued interest, net of related federal tax benefits | $ 18,000 | 19,000 | |
Unrecognized tax benefits which affect the effective tax rate if recognized | 400,000 | ||
Reduction in the unrecognized tax benefit due to statutes of limitations for next twelve months | $ 56,000 | ||
Minimum [Member] | |||
Income Tax Contingency [Line Items] | |||
Expiration of unused state net operating loss carryforwards | 2,018 | ||
Maximum [Member] | |||
Income Tax Contingency [Line Items] | |||
Expiration of unused state net operating loss carryforwards | 2,036 |
Income Taxes - Summary of Recon
Income Taxes - Summary of Reconciliation Between the Statutory Tax Rate and Actual Effective Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Statutory tax rate | 35.00% | 35.00% | 35.00% |
State taxes, net of federal benefit | 0.70% | 0.80% | 0.10% |
Valuation allowance reversal | (0.80%) | ||
Tax-exempt interest | (2.90%) | (2.20%) | (1.80%) |
Cash surrender value of life insurance | (1.50%) | (1.30%) | (1.30%) |
Tax credits | (0.90%) | (1.10%) | (1.40%) |
Other items | 0.20% | 0.10% | (0.30%) |
Actual effective tax rate | 30.60% | 30.50% | 30.30% |
Income Taxes - Summary of Re146
Income Taxes - Summary of Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||
Balance at beginning of year | $ 455 | $ 401 |
Additions based on tax positions related to current year | 163 | 134 |
Additions based on tax positions of prior year | 0 | 0 |
Reductions for tax positions of prior years | 0 | 0 |
Reductions due to expiration of statute of limitations | (76) | (80) |
Balance at end of year | $ 542 | $ 455 |
Other Comprehensive Income - Ch
Other Comprehensive Income - Changes in AOCI, Net of Tax, by Component (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive income (loss), balance at beginning of period | $ (51,133) | ||
Other comprehensive income (loss) before reclassifications | (8,501) | ||
Amounts reclassified from AOCI | (1,735) | ||
Net current period other comprehensive income (loss) | (10,236) | $ (5,130) | $ 10,921 |
Accumulated other comprehensive income (loss), balance at end of period | (61,369) | (51,133) | |
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 (loss) before reclassifications | (13,886) | ||
Amounts reclassified from AOCI | (463) | ||
Net current period other comprehensive income (loss) | (14,349) | ||
Accumulated other comprehensive income (loss), balance at end of period | (18,222) | (3,873) | |
Unrealized Net Gains 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 (loss) before reclassifications | 5,086 | ||
Amounts reclassified from AOCI | (1,272) | ||
Net current period other comprehensive income (loss) | 3,814 | ||
Accumulated other comprehensive income (loss), balance at end of period | 5,254 | 1,440 | |
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 (loss) before reclassifications | 299 | ||
Net current period other comprehensive income (loss) | 299 | ||
Accumulated other comprehensive income (loss), balance at end of period | $ (48,401) | $ (48,700) |
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 | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share [Abstract] | |||
Net Income | $ 170,891 | $ 159,649 | $ 144,050 |
Less: Preferred stock dividends | 8,041 | 8,041 | 8,352 |
Net income available to common stockholders | $ 162,850 | $ 151,608 | $ 135,698 |
Basic weighted average common shares outstanding | 206,244,498 | 174,971,785 | 167,347,906 |
Net effect of dilutive stock options, warrants and restricted stock | 1,524,111 | 1,367,168 | 1,730,939 |
Diluted weighted average common shares outstanding | 207,768,609 | 176,338,953 | 169,078,845 |
Basic | $ 0.79 | $ 0.87 | $ 0.81 |
Diluted | $ 0.78 | $ 0.86 | $ 0.80 |
Earnings Per Common Share - Sch
Earnings Per Common Share - Schedule of Average Shares Excluded from Diluted Earnings Per Common Share Calculation (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share [Abstract] | |||
Average shares excluded from the diluted earnings per common share calculation | 9,980 | 18,167 | 35,442 |
Regulatory Matters - Schedule o
Regulatory Matters - Schedule of Capital Ratios (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
F.N.B. Corporation [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital, Actual Amount | $ 1,917,386,000 | $ 1,629,270,000 |
Tier 1 capital, Actual Amount | 1,582,251,000 | 1,321,972,000 |
Common equity tier 1, Actual Amount | 1,475,369,000 | 1,200,715,000 |
Leverage, Actual Amount | $ 1,582,251,000 | $ 1,321,972,000 |
Total capital, Actual Ratio | 12.00% | 12.80% |
Tier 1 capital, Actual Ratio | 9.90% | 10.40% |
Common equity tier 1, Actual Ratio | 9.20% | 9.40% |
Leverage, Actual Ratio | 7.70% | 8.10% |
Total capital, Well-Capitalized Requirements Amount | $ 1,597,951,000 | $ 1,275,939,000 |
Tier 1 capital, Well-Capitalized Requirements Amount | 1,278,360,000 | 1,020,751,000 |
Common equity tier 1, Well-Capitalized Requirements Amount | 1,038,668,000 | 829,360,000 |
Leverage, Well-Capitalized Requirements Amount | $ 1,027,831,000 | $ 811,553,000 |
Total capital, Well-Capitalized Requirements Ratio | 10.00% | 10.00% |
Tier 1 capital, Well-Capitalized Requirements Ratio | 8.00% | 8.00% |
Common equity tier 1, Well-Capitalized Requirements Ratio | 6.50% | 6.50% |
Leverage, Well-Capitalized Requirements Ratio | 5.00% | 5.00% |
Total capital, Minimum Capital Requirements Amount | $ 1,378,232,000 | $ 1,020,751,000 |
Tier 1 capital, Minimum Capital Requirements Amount | 1,058,642,000 | 765,563,000 |
Common equity tier 1, Minimum Capital Requirements Amount | 818,950,000 | 574,172,000 |
Leverage, Minimum Capital Requirements Amount | $ 822,265,000 | $ 649,243,000 |
Total capital, Minimum Capital Requirements Ratio | 8.60% | 8.00% |
Tier 1 capital, Minimum Capital Requirements Ratio | 6.60% | 6.00% |
Common equity tier 1, Minimum Capital Requirements Ratio | 5.10% | 4.50% |
Leverage, Minimum Capital Requirements Ratio | 4.00% | 4.00% |
FNBPA [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital, Actual Amount | $ 1,768,561,000 | $ 1,426,284,000 |
Tier 1 capital, Actual Amount | 1,614,167,000 | 1,289,965,000 |
Common equity tier 1, Actual Amount | 1,534,167,000 | 1,209,965,000 |
Leverage, Actual Amount | $ 1,614,167,000 | $ 1,289,965,000 |
Total capital, Actual Ratio | 11.10% | 11.30% |
Tier 1 capital, Actual Ratio | 10.20% | 10.20% |
Common equity tier 1, Actual Ratio | 9.70% | 9.60% |
Leverage, Actual Ratio | 7.90% | 8.00% |
Total capital, Well-Capitalized Requirements Amount | $ 1,588,989,000 | $ 1,265,990,000 |
Tier 1 capital, Well-Capitalized Requirements Amount | 1,271,191,000 | 1,012,792,000 |
Common equity tier 1, Well-Capitalized Requirements Amount | 1,032,843,000 | 822,893,000 |
Leverage, Well-Capitalized Requirements Amount | $ 1,019,034,000 | $ 803,041,000 |
Total capital, Well-Capitalized Requirements Ratio | 10.00% | 10.00% |
Tier 1 capital, Well-Capitalized Requirements Ratio | 8.00% | 8.00% |
Common equity tier 1, Well-Capitalized Requirements Ratio | 6.50% | 6.50% |
Leverage, Well-Capitalized Requirements Ratio | 5.00% | 5.00% |
Total capital, Minimum Capital Requirements Amount | $ 1,370,503,000 | $ 1,012,792,000 |
Tier 1 capital, Minimum Capital Requirements Amount | 1,052,705,000 | 759,594,000 |
Common equity tier 1, Minimum Capital Requirements Amount | 814,357,000 | 569,695,000 |
Leverage, Minimum Capital Requirements Amount | $ 815,227,000 | $ 642,433,000 |
Total capital, Minimum Capital Requirements Ratio | 8.60% | 8.00% |
Tier 1 capital, Minimum Capital Requirements Ratio | 6.60% | 6.00% |
Common equity tier 1, Minimum Capital Requirements Ratio | 5.10% | 4.50% |
Leverage, Minimum Capital Requirements Ratio | 4.00% | 4.00% |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) $ in Millions | Dec. 31, 2016USD ($) |
Equity [Abstract] | |
Aggregate cash reserves with Federal Reserve Bank | $ 17 |
Retained earnings available for distribution | 202.9 |
Maximum amount loans that Corporation can borrower under current provisions | $ 302.7 |
Cash Flow Information - Summary
Cash Flow Information - Summary of Cash Flow Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Cash Flows [Abstract] | |||
Interest paid on deposits and other borrowings | $ 67,296 | $ 47,805 | $ 43,057 |
Income taxes paid | 60,000 | 61,500 | 27,000 |
Transfers of loans to other real estate owned | 14,592 | 9,628 | 16,535 |
Transfers of other real estate owned to loans | $ 441 | $ 372 | $ 390 |
Business Segments - Additional
Business Segments - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2016Segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 4 |
Business Segments - Financial I
Business Segments - Financial Information for Segments of FNB (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Segment Reporting Information [Line Items] | ||||
Interest income | $ 678,963 | $ 546,795 | $ 508,983 | |
Interest expense | 67,451 | 48,573 | 42,686 | |
Net interest income | 611,512 | 498,222 | 466,297 | |
Provision for credit losses | 55,752 | 40,441 | 38,648 | |
Non-interest income | 201,761 | 162,410 | 158,274 | |
Non-interest expense | [1] | 499,923 | 382,244 | 369,536 |
Amortization of intangibles | 11,210 | 8,305 | 9,717 | |
Income taxes (benefit) | 75,497 | 69,993 | 62,620 | |
Net income (loss) | 170,891 | 159,649 | 144,050 | |
Total assets | 21,844,817 | 17,557,662 | 16,127,090 | |
Total intangibles | 1,099,456 | 878,730 | 879,717 | |
Operating Segments [Member] | Community Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 629,700 | 500,030 | 463,376 | |
Interest expense | 56,182 | 41,227 | 36,318 | |
Net interest income | 573,518 | 458,803 | 427,058 | |
Provision for credit losses | 47,386 | 32,125 | 30,872 | |
Non-interest income | 151,149 | 116,141 | 115,858 | |
Non-interest expense | [1] | 435,089 | 319,923 | 311,834 |
Amortization of intangibles | 10,526 | 7,544 | 9,025 | |
Income taxes (benefit) | 70,756 | 65,071 | 57,634 | |
Net income (loss) | 160,910 | 150,281 | 133,551 | |
Total assets | 21,659,634 | 17,374,384 | 15,944,040 | |
Total intangibles | 1,075,118 | 853,551 | 857,066 | |
Operating Segments [Member] | Wealth Management [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Non-interest income | 35,283 | 35,246 | 31,497 | |
Non-interest expense | [1] | 27,201 | 27,264 | 25,338 |
Amortization of intangibles | 259 | 273 | 288 | |
Income taxes (benefit) | 2,845 | 2,803 | 2,135 | |
Net income (loss) | 4,978 | 4,906 | 3,736 | |
Total assets | 19,619 | 20,753 | 20,877 | |
Total intangibles | 10,189 | 10,447 | 10,720 | |
Operating Segments [Member] | Insurance [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 84 | 89 | 98 | |
Net interest income | 84 | 89 | 98 | |
Non-interest income | 14,750 | 13,052 | 13,598 | |
Non-interest expense | [1] | 12,965 | 13,891 | 11,558 |
Amortization of intangibles | 425 | 488 | 404 | |
Income taxes (benefit) | 532 | (412) | 625 | |
Net income (loss) | 912 | (826) | 1,109 | |
Total assets | 22,053 | 22,207 | 19,222 | |
Total intangibles | 12,340 | 12,923 | 10,122 | |
Operating Segments [Member] | Consumer Finance [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 40,922 | 39,868 | 38,914 | |
Interest expense | 3,759 | 3,518 | 3,352 | |
Net interest income | 37,163 | 36,350 | 35,562 | |
Provision for credit losses | 6,706 | 7,396 | 6,920 | |
Non-interest income | 3,002 | 2,926 | 2,919 | |
Non-interest expense | [1] | 21,662 | 20,189 | 19,692 |
Income taxes (benefit) | 4,488 | 4,709 | 4,430 | |
Net income (loss) | 7,309 | 6,982 | 7,439 | |
Total assets | 193,349 | 195,048 | 187,796 | |
Total intangibles | 1,809 | 1,809 | 1,809 | |
Parent and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 8,257 | 6,808 | 6,595 | |
Interest expense | 7,510 | 3,828 | 3,016 | |
Net interest income | 747 | 2,980 | 3,579 | |
Provision for credit losses | 1,660 | 920 | 856 | |
Non-interest income | (2,423) | (4,955) | (5,598) | |
Non-interest expense | [1] | 3,006 | 977 | 1,114 |
Income taxes (benefit) | (3,124) | (2,178) | (2,204) | |
Net income (loss) | (3,218) | (1,694) | (1,785) | |
Total assets | $ (49,838) | $ (54,730) | $ (44,845) | |
[1] | Excludes amortization of intangibles, which is presented separately. |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | 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 | 81,853,000 | $ 70,689,000 |
Allocated allowance for loan losses | 3,200,000 | |
Fair value of allocated allowance | 6,400,000 | |
Estimated costs to sell | 100,000 | |
Provision for fair value measurements included in allowance for loan losses | 2,300,000 | |
Carrying amount of OREO | 16,000,000 | |
Written down of OREO | 12,500,000 | |
Fair value of OREO | 14,200,000 | |
Estimated cost to sell OREO | 1,700,000 | |
Loss from OREO included in earnings | $ 3,500,000 | |
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 | $ 9,500,000 | |
Allocated allowance for loan losses | 6,383,000 | 3,828,000 |
Fair value of OREO | 14,198,000 | 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 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Measured at Fair Value, Securities available for sale | $ 2,231,987 | $ 1,630,567 | $ 1,534,065 |
Derivative assets | 54,220 | 53,202 | |
Derivative financial instruments | 47,267 | 51,605 | |
U.S. Treasury [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Measured at Fair Value, Debt securities available for sale | 29,953 | 29,796 | 29,682 |
U.S. Government-Sponsored Entities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Measured at Fair Value, Debt securities available for sale | 365,098 | 367,994 | 337,133 |
Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Measured at Fair Value, Debt securities available for sale | 535,974 | 495,830 | 573,171 |
Assets Measured at Fair Value, Securities available for sale | 535,974 | ||
Non-Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Measured at Fair Value, Debt securities available for sale | 897 | 1,190 | 1,431 |
Assets Measured at Fair Value, Securities available for sale | 897 | ||
Commercial Mortgage-Backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Measured at Fair Value, Debt securities available for sale | 1,291 | 4,287 | 7,880 |
Assets Measured at Fair Value, Securities available for sale | 1,291 | ||
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, Debt securities available for sale | 35,849 | 11,057 | 13,158 |
Other Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Measured at Fair Value, Debt securities available for sale | 9,487 | 14,286 | $ 16,178 |
Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Measured at Fair Value, Securities available for sale | 148 | 225 | |
Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Measured at Fair Value, Securities available for sale | 2,230,453 | 1,628,719 | |
Derivative assets | 54,220 | 53,202 | |
Derivative financial instruments | 47,267 | 51,605 | |
Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Measured at Fair Value, Securities available for sale | 1,386 | 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, Debt securities available for sale | 2,231,347 | 1,629,271 | |
Assets Measured at Fair Value, Equity securities available for sale | 640 | 1,296 | |
Assets Measured at Fair Value, Securities available for sale | 2,231,987 | 1,630,567 | |
Derivative assets | 54,220 | 53,202 | |
Assets measured at fair value on a recurring basis, Total | 2,286,207 | 1,683,769 | |
Derivative financial instruments | 47,267 | 51,605 | |
Liabilities measured at fair value on a recurring basis, Total | 47,267 | 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, Debt securities available for sale | 29,953 | 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, Debt securities available for sale | 365,098 | 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, Debt securities available for sale | 535,974 | 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, Debt securities available for sale | 897 | 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, Debt securities available for sale | 1,291 | 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, Debt securities available for sale | 35,849 | 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, Debt securities available for sale | 9,487 | 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 | 44,951 | 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 | 9,269 | 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, Equity securities available for sale | 492 | 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, Equity securities available for sale | 148 | 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, Debt securities available for sale | 1,252,798 | 704,831 | |
Fair Value, Measurements, Recurring [Member] | Trading Liabilities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative financial instruments | 45,973 | 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 financial instruments | 1,294 | 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, Equity securities available for sale | 148 | 225 | |
Assets Measured at Fair Value, Securities available for sale | 148 | 225 | |
Assets measured at fair value on a recurring basis, Total | 148 | 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, Equity securities available for sale | 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, Equity securities available for sale | 148 | 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, Debt securities available for sale | 2,230,453 | 1,628,087 | |
Assets Measured at Fair Value, Equity securities available for sale | 632 | ||
Assets Measured at Fair Value, Securities available for sale | 2,230,453 | 1,628,719 | |
Derivative assets | 54,220 | 53,202 | |
Assets measured at fair value on a recurring basis, Total | 2,284,673 | 1,681,921 | |
Derivative financial instruments | 47,267 | 51,605 | |
Liabilities measured at fair value on a recurring basis, Total | 47,267 | 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, Debt securities available for sale | 29,953 | 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, Debt securities available for sale | 365,098 | 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, Debt securities available for sale | 535,974 | 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, Debt securities available for sale | 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, Debt securities available for sale | 1,291 | 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, Debt securities available for sale | 35,849 | 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, Debt securities available for sale | 9,487 | 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 | 44,951 | 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 | 9,269 | 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, Equity securities available for sale | 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, Debt securities available for sale | 1,252,798 | 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 financial instruments | 45,973 | 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 financial instruments | 1,294 | 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, Debt securities available for sale | 894 | 1,184 | |
Assets Measured at Fair Value, Equity securities available for sale | 492 | 439 | |
Assets Measured at Fair Value, Securities available for sale | 1,386 | 1,623 | |
Assets measured at fair value on a recurring basis, Total | 1,386 | 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, Debt securities available for sale | 894 | 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, Equity securities available for sale | $ 492 | $ 439 |
Fair Value Measurements - Ad157
Fair Value Measurements - Additional Information about Assets Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 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 | 46 | 16 |
Accretion included in earnings | 6 | 5 |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Sales/redemptions | 0 | 0 |
Settlements | (289) | (237) |
Transfers from Level 3 | (56) | |
Transfers into Level 3 | 0 | 0 |
Balance at end of period | 1,386 | 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 | 53 | 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 | 492 | 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 | (7) | (4) |
Accretion included in earnings | 6 | 5 |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Sales/redemptions | 0 | 0 |
Settlements | (289) | (237) |
Transfers into Level 3 | 0 | 0 |
Balance at end of period | $ 894 | $ 1,184 |
Fair Value Measurements - Ad158
Fair Value Measurements - Additional Information about Assets Measured at Fair Value on Non-Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 3,200 | |
Other real estate owned | 14,200 | |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 6,383 | $ 3,828 |
Other real estate owned | 14,198 | 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 | 500 | 124 |
Other real estate owned | 11,017 | 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 | 5,883 | 3,704 |
Other real estate owned | $ 3,181 | $ 2,126 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Values of Corporation's Financial Instruments (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Carrying Amount [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | $ 371,407 | $ 489,119 | ||
Securities available for sale | 2,231,987 | 1,630,567 | ||
Securities held to maturity | 2,337,342 | 1,637,061 | ||
Net loans and leases, including loans held for sale | 14,750,792 | 12,053,209 | ||
Derivative assets | 54,220 | 53,202 | ||
Accrued interest receivable | 58,712 | 44,920 | ||
Financial Liabilities Deposits | 16,065,647 | 12,623,463 | ||
Short-term borrowings | 2,503,010 | 2,048,896 | ||
Long-term borrowings | 539,494 | 641,480 | ||
Derivative liabilities | 47,267 | 51,605 | ||
Accrued interest payable | 7,612 | 7,457 | ||
Fair Value [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 371,407 | 489,119 | ||
Securities available for sale | 2,231,987 | 1,630,567 | ||
Securities held to maturity | 2,294,777 | 1,643,416 | ||
Net loans and leases, including loans held for sale | 14,446,274 | 11,863,882 | ||
Derivative assets | 54,220 | 53,202 | ||
Accrued interest receivable | 58,712 | 44,920 | ||
Deposits | 16,045,323 | 12,610,914 | ||
Short-term borrowings | 2,503,277 | 2,048,943 | ||
Long-term borrowings | 536,088 | 637,935 | ||
Derivative liabilities | 47,267 | 51,605 | ||
Accrued interest payable | 7,612 | 7,457 | ||
Cash and cash equivalents | 371,407 | 489,119 | $ 287,393 | $ 213,981 |
Securities available for sale | 2,231,987 | 1,630,567 | 1,534,065 | |
Securities held to maturity | 2,337,342 | 1,637,061 | 1,453,355 | |
Securities held to maturity | 2,294,777 | 1,643,416 | $ 1,468,258 | |
Derivative assets | 54,220 | 53,202 | ||
Financial Liabilities Deposits | 16,065,647 | 12,623,463 | ||
Short-term borrowings | 2,503,010 | 2,048,896 | ||
Long-term borrowings | 539,494 | 641,480 | ||
Derivative liabilities | 47,267 | 51,605 | ||
Level 1 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 371,407 | 489,119 | ||
Securities available for sale | 148 | 225 | ||
Accrued interest receivable | 58,712 | 44,920 | ||
Deposits | 13,489,152 | 10,157,997 | ||
Short-term borrowings | 2,503,277 | 2,048,943 | ||
Accrued interest payable | 7,612 | 7,457 | ||
Level 2 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Securities available for sale | 2,230,453 | 1,628,719 | ||
Securities held to maturity | 2,293,091 | 1,640,721 | ||
Derivative assets | 54,220 | 53,202 | ||
Deposits | 2,556,171 | 2,452,917 | ||
Derivative liabilities | 47,267 | 51,605 | ||
Level 3 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Securities available for sale | 1,386 | 1,623 | ||
Securities held to maturity | 1,686 | 2,695 | ||
Net loans and leases, including loans held for sale | 14,464,274 | 11,863,882 | ||
Long-term borrowings | $ 536,088 | $ 637,935 |
Parent Company Financial Sta160
Parent Company Financial Statements - Consolidated Balance Sheet of Parent Company Only (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Cash and cash equivalents | $ 371,407 | $ 489,119 | $ 287,393 | $ 213,981 |
Securities available for sale | 2,231,987 | 1,630,567 | 1,534,065 | |
Other assets | 479,725 | 401,704 | ||
Total Assets | 21,844,817 | 17,557,662 | 16,127,090 | |
Other liabilities | 165,049 | 147,641 | ||
Long-term borrowings | 539,494 | 641,480 | ||
Long-term | 87,147 | 84,668 | ||
Total Liabilities | 19,273,200 | 15,461,480 | ||
Stockholders' Equity | 2,571,617 | 2,096,182 | 2,021,456 | 1,774,383 |
Total Liabilities and Stockholders' Equity | 21,844,817 | 17,557,662 | ||
Parent Company [Member] | ||||
Cash and cash equivalents | 164,276 | 227,554 | $ 129,320 | $ 145,910 |
Securities available for sale | 492 | 1,168 | ||
Other assets | 17,405 | 17,206 | ||
Total Assets | 3,050,691 | 2,579,621 | ||
Other liabilities | 26,063 | 26,831 | ||
Advances from affiliates | 295,897 | 289,540 | ||
Long-term borrowings | 147,916 | 157,777 | ||
Short-term | 8,172 | 8,216 | ||
Long-term | 1,026 | 1,075 | ||
Total Liabilities | 479,074 | 483,439 | ||
Stockholders' Equity | 2,571,617 | 2,096,182 | ||
Total Liabilities and Stockholders' Equity | 3,050,691 | 2,579,621 | ||
Parent Company [Member] | Bank Subsidiary [Member] | ||||
Investment in and advances to subsidiaries | 2,598,520 | 2,073,352 | ||
Parent Company [Member] | Non-bank Subsidiaries [Member] | ||||
Investment in and advances to subsidiaries | $ 269,998 | $ 260,341 |
Parent Company Financial Sta161
Parent Company Financial Statements - Statements of Income of Parent Company Only (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Dividend income from subsidiaries | $ 34 | $ 39 | $ 228 |
Interest income | 678,963 | 546,795 | 508,983 |
Other income | 444 | 117 | 94 |
Interest expense | 67,451 | 48,573 | 42,686 |
Income tax benefit | (75,497) | (69,993) | (62,620) |
Net Income | 170,891 | 159,649 | 144,050 |
Parent Company [Member] | |||
Dividend income from subsidiaries | 117,479 | 95,443 | 94,900 |
Interest income | 5,041 | 4,845 | 4,856 |
Equity in undistributed income (loss) of subsidiaries | 63,206 | 71,739 | 55,631 |
Other income | 2,799 | 1,053 | 1,920 |
Total Income | 125,319 | 101,341 | 101,676 |
Interest expense | 13,609 | 9,526 | 8,503 |
Other expenses | 10,377 | 8,993 | 9,252 |
Total Expenses | 23,986 | 18,519 | 17,755 |
Income Before Taxes and Equity in Undistributed Income of Subsidiaries | 101,333 | 82,822 | 83,921 |
Income tax benefit | 6,352 | 5,088 | 4,498 |
Income after income taxes | 107,685 | 87,910 | 88,419 |
Net Income | 170,891 | 159,649 | 144,050 |
Parent Company [Member] | Bank [Member] | |||
Dividend income from subsidiaries | 108,954 | 87,580 | 85,000 |
Equity in undistributed income (loss) of subsidiaries | 60,924 | 71,581 | 55,742 |
Parent Company [Member] | Non-Bank [Member] | |||
Dividend income from subsidiaries | 8,525 | 7,863 | 9,900 |
Equity in undistributed income (loss) of subsidiaries | $ 2,282 | $ 158 | $ (111) |
Parent Company Financial Sta162
Parent Company Financial Statements - Statements of Cash Flows of Parent Company Only (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Supplemental Cash Flow Information [Line Items] | |||
Net Income | $ 170,891 | $ 159,649 | $ 144,050 |
Other, net | 10,702 | (11,333) | (34,746) |
Net cash flows provided by operating activities | 292,708 | 223,480 | 446,819 |
Proceeds from sale of securities available for sale | 615,199 | 33,499 | 175,872 |
Net cash received in business combinations | 245,762 | 144,629 | 59,980 |
Net cash flows used in investing activities | (1,259,646) | (1,142,666) | (1,738,256) |
Decrease in long-term debt | (173,477) | (34,968) | (96,906) |
Increase in long-term debt | 46,357 | 134,953 | 385,656 |
Net proceeds from issuance of common stock | 18,472 | 12,731 | 12,857 |
Tax benefit of stock-based compensation | 1,813 | 28 | 2,714 |
Preferred stock | (8,041) | (8,041) | (8,352) |
Common stock | (101,670) | (84,511) | (81,220) |
Net cash flows provided by financing activities | 849,226 | 1,120,912 | 1,364,849 |
Net (Decrease) Increase in Cash and Cash Equivalents | (117,712) | 201,726 | 73,412 |
Cash and cash equivalents at beginning of year | 489,119 | 287,393 | 213,981 |
Cash and Cash Equivalents at End of Year | 371,407 | 489,119 | 287,393 |
Interest | 67,296 | 47,805 | 43,057 |
Parent Company [Member] | |||
Supplemental Cash Flow Information [Line Items] | |||
Net Income | 170,891 | 159,649 | 144,050 |
Undistributed earnings from subsidiaries | (63,206) | (71,739) | (55,631) |
Other, net | (2,530) | 680 | (637) |
Net cash flows provided by operating activities | 105,155 | 88,590 | 87,782 |
Proceeds from sale of securities available for sale | 815 | 934 | |
Net (increase) decrease in advances to subsidiaries | (6,263) | 3,285 | 2,018 |
Payment for further investment in subsidiaries | (71,050) | (9,060) | (2,877) |
Net cash received in business combinations | 1,089 | 5,594 | |
Net cash flows used in investing activities | (75,409) | (5,775) | 5,669 |
Net decrease in advance from affiliate | 6,356 | (2,797) | (1,908) |
Net decrease in short-term borrowings | (44) | (135) | (88) |
Decrease in long-term debt | (10,291) | (650) | (34,865) |
Increase in long-term debt | 381 | 98,794 | 821 |
Net proceeds from issuance of common stock | 18,472 | 12,731 | 12,857 |
Tax benefit of stock-based compensation | 1,813 | 28 | 2,714 |
Preferred stock | (8,041) | (8,041) | (8,352) |
Common stock | (101,670) | (84,511) | (81,220) |
Net cash flows provided by financing activities | (93,024) | 15,419 | (110,041) |
Net (Decrease) Increase in Cash and Cash Equivalents | (63,278) | 98,234 | (16,590) |
Cash and cash equivalents at beginning of year | 227,554 | 129,320 | 145,910 |
Cash and Cash Equivalents at End of Year | 164,276 | 227,554 | 129,320 |
Interest | $ 13,620 | $ 8,309 | $ 9,112 |