Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | Apr. 30, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | FNB | |
Entity Registrant Name | FNB CORP/PA/ | |
Entity Central Index Key | 37,808 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 323,100,407 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and due from banks | $ 381,416 | $ 303,526 |
Interest bearing deposits with banks | 68,967 | 67,881 |
Cash and Cash Equivalents | 450,383 | 371,407 |
Securities available for sale | 2,638,815 | 2,231,987 |
Securities held to maturity (fair value of $2,886,897 and $2,294,777) | 2,922,152 | 2,337,342 |
Loans held for sale (includes $11,121 and $0 measured at fair value) (1) | 75,270 | 11,908 |
Loans and leases, net of unearned income of $58,877 and $52,723 | 20,177,650 | 14,896,943 |
Allowance for credit losses | (160,782) | (158,059) |
Net Loans and Leases | 20,016,868 | 14,738,884 |
Premises and equipment, net | 355,436 | 243,956 |
Goodwill | 2,250,305 | 1,032,129 |
Core deposit and other intangible assets, net | 134,699 | 67,327 |
Bank owned life insurance | 467,457 | 330,152 |
Other assets | 879,310 | 479,725 |
Total Assets | 30,190,695 | 21,844,817 |
Liabilities | ||
Non-interest-bearing demand | 5,537,679 | 4,205,337 |
Interest-bearing demand | 9,285,393 | 6,931,381 |
Savings | 2,623,531 | 2,352,434 |
Certificates and other time deposits | 3,879,669 | 2,576,495 |
Total Deposits | 21,326,272 | 16,065,647 |
Short-term borrowings | 3,585,963 | 2,503,010 |
Long-term borrowings | 696,206 | 539,494 |
Other liabilities | 226,459 | 165,049 |
Total Liabilities | 25,834,900 | 19,273,200 |
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 - 324,432,606 and 212,378,494 shares | 3,246 | 2,125 |
Additional paid-in capital | 4,020,527 | 2,234,366 |
Retained earnings | 299,818 | 304,397 |
Accumulated other comprehensive loss | (56,969) | (61,369) |
Treasury stock - 1,525,843 and 1,318,947 shares at cost | (17,709) | (14,784) |
Total Stockholders' Equity | 4,355,795 | 2,571,617 |
Total Liabilities and Stockholders' Equity | $ 30,190,695 | $ 21,844,817 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Statement of Financial Position [Abstract] | |||
Securities held to maturity, fair value | $ 2,886,897 | $ 2,294,777 | |
Loans held for sale, fair value | [1] | 11,121 | 0 |
Unearned income on loans | $ 58,877 | $ 52,723 | |
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 | 324,432,606 | 212,378,494 | |
Treasury stock, shares | 1,525,843 | 1,318,947 | |
[1] | Amount represents loans for which we have elected the fair value option. See Note 17. |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Interest Income | ||
Loans and leases, including fees | $ 168,629 | $ 137,121 |
Securities: | ||
Taxable | 22,466 | 16,493 |
Tax-exempt | 3,401 | 2,018 |
Dividends | 9 | 5 |
Other | 188 | 117 |
Total Interest Income | 194,693 | 155,754 |
Interest Expense | ||
Deposits | 11,740 | 9,486 |
Short-term borrowings | 6,674 | 2,361 |
Long-term borrowings | 3,527 | 3,553 |
Total Interest Expense | 21,941 | 15,400 |
Net Interest Income | 172,752 | 140,354 |
Provision for credit losses | 10,850 | 11,768 |
Net Interest Income After Provision for Credit Losses | 161,902 | 128,586 |
Non-Interest Income | ||
Service charges | 24,807 | 21,134 |
Trust services | 5,747 | 5,282 |
Insurance commissions and fees | 5,141 | 4,921 |
Securities commissions and fees | 3,623 | 3,374 |
Capital markets income | 3,847 | 2,849 |
Mortgage banking operations | 3,790 | 1,595 |
Bank owned life insurance | 2,153 | 2,095 |
Net securities gains | 2,625 | 71 |
Other | 3,383 | 4,723 |
Total Non-Interest Income | 55,116 | 46,044 |
Non-Interest Expense | ||
Salaries and employee benefits | 73,578 | 56,425 |
Net occupancy | 11,349 | 9,266 |
Equipment | 9,630 | 8,556 |
Amortization of intangibles | 3,098 | 2,649 |
Outside services | 13,043 | 9,303 |
FDIC insurance | 5,387 | 3,968 |
Supplies | 2,196 | 2,654 |
Bank shares and franchise taxes | 2,980 | 2,617 |
Merger-related | 52,724 | 24,940 |
Other | 13,570 | 16,270 |
Total Non-Interest Expense | 187,555 | 136,648 |
Income Before Income Taxes | 29,463 | 37,982 |
Income taxes | 6,484 | 11,850 |
Net Income | 22,979 | 26,132 |
Preferred stock dividends | 2,010 | 2,010 |
Net Income Available to Common Stockholders | $ 20,969 | $ 24,122 |
Earnings per Common Share | ||
Basic | $ 0.09 | $ 0.12 |
Diluted | 0.09 | 0.12 |
Cash Dividends per Common Share | $ 0.12 | $ 0.12 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 22,979 | $ 26,132 |
Securities available for sale: | ||
Unrealized gains arising during the period, net of tax expense of $3,248 and $7,719 | 6,032 | 14,335 |
Reclassification adjustment for gains included in net income, net of tax expense of $424 and $25 | (787) | (46) |
Derivative instruments: | ||
Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(550) and $1,693 | (1,022) | 3,145 |
Reclassification adjustment for gains included in net income, net of tax expense of $125 and $188 | (233) | (349) |
Pension and postretirement benefit obligations: | ||
Unrealized gains arising during the period, net of tax expense of $221 and $214 | 410 | 397 |
Other comprehensive income | 4,400 | 17,482 |
Comprehensive income | $ 27,379 | $ 43,614 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | ||
Unrealized gains arising during the period, tax expense | $ 3,248 | $ 7,719 |
Reclassification adjustment for gains included in net income, tax expense | 424 | 25 |
Unrealized (losses) gains arising during the period, tax (benefit) expense | (550) | 1,693 |
Reclassification adjustment for gains included in net income, tax expense | 125 | 188 |
Unrealized gains arising during the period, tax expense | $ 221 | $ 214 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
Balance at Dec. 31, 2015 | $ 2,096,182 | $ 106,882 | $ 1,766 | $ 1,808,210 | $ 243,217 | $ (51,133) | $ (12,760) |
Comprehensive income | 43,614 | 26,132 | 17,482 | ||||
Dividends declared: | |||||||
Preferred stock | (2,010) | (2,010) | |||||
Common stock: $0.12/share | (25,294) | (25,294) | |||||
Issuance of common stock | 96 | 5 | 1,657 | (1,566) | |||
Issuance of common stock - acquisitions | 404,020 | 341 | 403,679 | ||||
Restricted stock compensation | 1,136 | 1,136 | |||||
Tax benefit of stock-based compensation | 277 | 277 | |||||
Balance at Mar. 31, 2016 | 2,518,021 | 106,882 | 2,112 | 2,214,959 | 242,045 | (33,651) | (14,326) |
Balance at Dec. 31, 2016 | 2,571,617 | 106,882 | 2,125 | 2,234,366 | 304,397 | (61,369) | (14,784) |
Comprehensive income | 27,379 | 22,979 | 4,400 | ||||
Dividends declared: | |||||||
Preferred stock | (2,010) | (2,010) | |||||
Common stock: $0.12/share | (25,548) | (25,548) | |||||
Issuance of common stock | (803) | 5 | 2,117 | (2,925) | |||
Issuance of common stock - acquisitions | 1,782,007 | 1,116 | 1,780,891 | ||||
Assumption of warrant due to acquisition | 1,394 | 1,394 | |||||
Restricted stock compensation | 1,759 | 1,759 | |||||
Balance at Mar. 31, 2017 | $ 4,355,795 | $ 106,882 | $ 3,246 | $ 4,020,527 | $ 299,818 | $ (56,969) | $ (17,709) |
Consolidated Statements of Sto8
Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Statement of Stockholders' Equity [Abstract] | ||
Common stock dividends per share | $ 0.12 | $ 0.12 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Operating Activities | ||
Net income | $ 22,979 | $ 26,132 |
Adjustments to reconcile net income to net cash flows provided by operating activities: | ||
Depreciation, amortization and accretion | 17,276 | 11,759 |
Provision for credit losses | 10,850 | 11,768 |
Deferred tax expense | 11,224 | 255 |
Net securities gains | (2,625) | (71) |
Tax benefit of stock-based compensation | (720) | (277) |
Loans originated for sale | (182,771) | (95,503) |
Loans sold | 135,405 | 94,765 |
Gain on sale of loans | (3,344) | (2,164) |
Net change in: | ||
Interest receivable | (1,527) | (109) |
Interest payable | 444 | 1,301 |
Bank owned life insurance | (1,962) | (1,850) |
Other, net | 13,403 | 47,865 |
Net cash flows provided by operating activities | 18,632 | 93,871 |
Investing Activities | ||
Net change in loans and leases | (208,958) | (122,982) |
Securities available for sale: | ||
Purchases | (492,227) | (510,271) |
Sales | 549,460 | 615,199 |
Maturities | 119,867 | 170,266 |
Securities held to maturity: | ||
Purchases | (531,560) | (217,574) |
Sales | 1,574 | |
Maturities | 119,324 | 77,369 |
Purchase of bank owned life insurance | (64) | |
Increase in premises and equipment | (23,186) | (13,878) |
Net cash received in business combinations | 197,682 | 46,854 |
Net cash flows (used in) provided by investing activities | (268,024) | 44,919 |
Financing Activities | ||
Demand (non-interest bearing and interest bearing) and savings accounts | 73,291 | 411,857 |
Time deposits | 11,421 | 28,558 |
Short-term borrowings | 286,765 | (687,409) |
Proceeds from issuance of long-term borrowings | 65,998 | 42,371 |
Repayment of long-term borrowings | (82,506) | (51,546) |
Net proceeds from issuance of common stock | 957 | 1,232 |
Tax benefit of stock-based compensation | 277 | |
Cash dividends paid: | ||
Preferred stock | (2,010) | (2,010) |
Common stock | (25,548) | (25,294) |
Net cash flows (used in) provided by financing activities | 328,368 | (281,964) |
Net Increase (Decrease) in Cash and Cash Equivalents | 78,976 | (143,174) |
Cash and cash equivalents at beginning of period | 371,407 | 489,119 |
Cash and Cash Equivalents at End of Period | $ 450,383 | $ 345,945 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 balance sheet have been evaluated for potential recognition or disclosure in the consolidated financial statements through the date of the filing of the consolidated financial statements with the Securities and Exchange Commission (SEC). Certain information and note disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The interim operating results are not necessarily indicative of operating results FNB expects for the full year. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in FNB’s Annual Report on Form 10-K 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 and income taxes. Loans Held for Sale and Loan Commitments Certain of our residential mortgage loans are originated for sale in the secondary mortgage loan market. Effective January 1, 2017, we made an automatic election to account for all future residential mortgage loans under the fair value option (FVO). The FVO election is intended to better reflect the underlying economics and better facilitate the economic hedging of the loans. The FVO is applied on an instrument by instrument basis and is an irrevocable election. Additionally, with the election of the FVO, fees and costs associated with the origination and acquisition of residential mortgage loans are expensed as incurred, rather than deferred. Changes in fair value under the FVO are recorded in mortgage banking operations income on the consolidated statements of income. Fair value is determined on the basis of rates obtained in the respective secondary market for the type of loan held for sale. Prior to the FVO election, loans were generally sold at a premium or discount from the carrying amount of the loan which represented the lower of cost or fair value. Gain or loss on the sale of loans is recorded in mortgage banking operations non-interest We routinely issue interest rate lock commitments for residential mortgage loans that we intend to sell. These interest rate lock commitments are considered derivatives. We also enter into loan sale commitments to sell these loans when funded to mitigate the risk that the market value of residential mortgage loans may decline between the time the rate commitment is issued to the customer and the time we sell the loan. These loan sale commitments are also derivatives. Both types of derivatives are recorded at fair value on the consolidated balance sheets with changes in fair value recorded in mortgage banking operations income. We also originate loans guaranteed by the Small Business Administration (SBA) for the purchase of businesses, business startups, business expansion, equipment, and working capital. All SBA loans are underwritten and documented as prescribed by the SBA. The portion of SBA loans originated that are guaranteed and intended for sale on the secondary market are classified as held for sale and are carried at the lower of cost or fair value. At the time of the sale, we allocate the carrying value of the entire loan between the guaranteed portion sold and the unguaranteed portion retained based on their relative fair value which results in a discount recorded on the retained portion of the loan. The guaranteed portion is typically sold at a premium and the gain is recognized in other income for any net premium received in excess of the relative fair value of the portion of the loan transferred. The net carrying value of the retained portion of the loans is included in the appropriate loan classification for disclosure purposes, primarily commercial real estate or commercial and industrial. 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. Premises and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Assets to be disposed of are transferred to other assets and are reported at the lower of the carrying amount or fair value less costs to sell. 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 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. Prior to 2017, if, after assessing updated quantitative factors, we determined it was not more likely than not that the fair value of a reporting unit is less than its carrying amount, we did not have to perform the two-step Determining the fair value of a reporting unit under the first step of the goodwill impairment test and determining the fair value of individual assets and liabilities of a reporting unit under the second step of the goodwill impairment test are judgmental and often involve the use of significant estimates and assumptions. Similarly, estimates and assumptions are used in determining the fair value of other intangible assets. Estimates of fair value are primarily determined using discounted cash flows, market comparisons and recent transactions. These approaches use significant estimates and assumptions including projected future cash flows, discount rates reflecting the market rate of return, projected growth rates and determination and evaluation of appropriate market comparables. Based on the results of quantitative assessments of all reporting units, we concluded that no impairment existed at December 31, 2016. However, future events could cause us to conclude that goodwill or other intangibles have become impaired, which would result in recording an impairment loss. Any resulting impairment loss could have a material adverse impact on our financial condition and results of operations. Beginning in 2017, as permitted under the early adoption provisions of ASU 2017-04, Loan Servicing Rights We have two primary classes of servicing rights, residential mortgage loan servicing and SBA-guaranteed SBA-guaranteed We initially record servicing rights at fair value in core deposit and other intangible assets, net on the consolidated balance sheet. Subsequently, servicing rights are measured at the lower of cost or fair value. Servicing rights are amortized in proportion to, and over the period of, estimated net servicing income against servicing income during the period in mortgage banking operations income for residential mortgage loans and other income for SBA-guaranteed Mortgage servicing rights (MSRs) are separated into pools based on common risk characteristics of the underlying loans and evaluated for impairment at least quarterly. SBA-guaranteed SBA-guaranteed Bank-Owned Life Insurance (BOLI) We have purchased life insurance policies on certain current and former directors, officers and employees for which the Corporation is the owner and beneficiary. These policies are recorded in other assets in the consolidated balance sheet at their cash surrender value, or the amount that could be realized by surrendering the policies. Tax-exempt Low Income Housing Tax Credit Partnerships We invest in various affordable housing projects that qualify for low income housing tax credits (LIHTCs). The investments are recorded in other assets on the consolidated balance sheets. These investments generate a return through the realization of federal tax credits. We use the proportional amortization method to account for a majority of our investments in these entities. LIHTCs that do not meet the requirements of the proportional amortization method are recognized using the equity method. Our net investment in LIHTCs was $14.7 million and $14.0 million at March 31, 2017 and December 31, 2016, respectively. 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. Beginning in 2017, the assumed proceeds from applying the treasury stock method when computing diluted earnings per share excludes the amount of excess tax benefits that would have been recognized in accumulated paid-in 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 statements of comprehensive income over the shorter of requisite service periods or the period through the date that the employee first becomes eligible to retire. Some of 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. Beginning in 2017, with the adoption of ASU 2016-09, 2016-09 |
New Accounting Standards
New Accounting Standards | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
New Accounting Standards | 2. NEW ACCOUNTING STANDARDS The following paragraphs summarize accounting pronouncements issued by the Financial Accounting Standards Board (FASB) that we recently adopted or will be adopting in the future. Securities Accounting Standards Update (ASU or Update) 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Retirement Benefits ASU 2017-07, Compensation—Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, Goodwill ASU 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 2017-05, Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): 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 | 3 Months Ended |
Mar. 31, 2017 | |
Business Combinations [Abstract] | |
Mergers and Acquisitions | 3. MERGERS AND ACQUISITIONS Yadkin Financial Corporation On March 11, 2017, we completed our acquisition of Yadkin Financial Corporation (YDKN), a bank holding company based in Raleigh, North Carolina. YDKN’s banking affiliate, Yadkin Bank, was also merged into FNBPA on March 11, 2017. YDKN’s results of operations have been included in our consolidated statements of income since that date. The acquisition enabled us to enter the attractive North Carolina markets, including Raleigh, Charlotte and the Piedmont Triad, which is comprised of Winston-Salem, Greensboro and High Point. We also completed the core systems conversion activities during the quarter. On the acquisition date, the preliminary estimated fair values of YDKN included $6.8 billion in assets, $5.1 billion in loans and $5.2 billion in deposits. The acquisition was valued at $1.8 billion based on the acquisition date FNB common stock closing price of $15.97 and resulted in FNB issuing 111,619,975 shares of our common stock in exchange for 51,677,565 shares of YDKN common stock. Under the terms of the merger agreement, shareholders of YDKN received 2.16 shares of FNB common stock for each share of YDKN common stock and cash in lieu of fractional shares. YDKN’s fully vested and outstanding stock options and restricted stock awards were converted into options to purchase and receive FNB common stock. In conjunction with the acquisition, we assumed a warrant that was issued by YDKN to the U.S. Department of the Treasury (UST) under the Capital Purchase Program (CPP). Based on the exchange ratio, this warrant, which expires in 2019, was converted into a warrant to purchase up to 207,320 shares of FNB common stock with an exercise price of $9.63. The acquisition of YDKN constituted a business combination and has been accounted for using the acquisition method of accounting, and accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at estimated fair value on the acquisition date. The determination of estimated fair values required management to make certain estimates about discount rates, future expected cash flows, market conditions, and other future events that are highly subjective in nature and may require adjustments, which can be updated for up to a year following the acquisition. As of March 31, 2017, we continue to review information relating to events or circumstances existing at the acquisition date. Management anticipates that this review could result in adjustments to the preliminary acquisition date valuation amounts presented due to the relatively short timeframe between the March 11, 2017 closing date and quarter-end, Based on the preliminary purchase price allocation, we recorded $1.2 billion in goodwill and $55.7 million in core deposit intangibles as a result of the acquisition. The core deposit intangible asset is being amortized over the estimated useful life of approximately ten years utilizing an accelerated method. Goodwill is not amortized, but is periodically evaluated for impairment. None of the goodwill is deductible for income tax purposes. The following pro forma financial information for the periods presented reflects our estimated consolidated pro forma results of operations as if the YDKN acquisition occurred on January 1, 2016, unadjusted for potential cost savings and other business synergies we expect to receive as a result of the acquisition: (dollars in thousands, except per share data) FNB YDKN Pro Forma Pro Forma Three Months Ended March 31, 2017 Revenue (net interest income and non-interest $ 206,969 $ 74,574 $ (781 ) $ 280,762 Net income 51,253 22,435 (1,710 ) 71,978 Net income available to common stockholders 49,243 22,435 (1,710 ) 69,968 Earnings per common share – basic 0.23 0.43 — 0.22 Earnings per common share – diluted 0.23 0.43 — 0.22 Three Months Ended March 31, 2016 Revenue (net interest income and non-interest 186,398 74,709 (1,323 ) 259,784 Net income 26,132 15,447 (1,966 ) 39,613 Net income available to common stockholders 24,122 15,447 (1,966 ) 37,603 Earnings per common share – basic 0.12 0.30 — 0.12 Earnings per common share – diluted 0.12 0.30 — 0.12 The pro forma adjustments reflect amortization and associated taxes related to the preliminary purchase accounting adjustments made to record various acquired items at fair value. In connection with the YDKN acquisition, we incurred expenses related to systems conversions and other costs of integrating and conforming acquired operations with and into FNB. These merger-related expenses, that were expensed as incurred, amounted to $52.3 million for the three months ended March 31, 2017. Contract terminations and severance costs comprised 30.8% and 26.6%, respectively, of the merger-related expenses, with the remainder consisting of other non-interest paid-in 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 enhanced our distribution and scale across Central Pennsylvania, strengthened our position as the largest Pennsylvania-based regional bank and allowed 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 its 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 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 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 $0.4 million for the three months ended March 31, 2017 and $31.0 million for the year ended December 31, 2016. Severance costs comprised 39.9% of the merger-related expenses, with the remainder consisting of other non-interest paid-in The following table summarizes the amounts recorded on the consolidated balance sheets as of each of the acquisition dates in conjunction with the acquisitions discussed above: (in thousands) YDKN Fifth Third METR Fair value of consideration paid $ 1,783,366 $ — $ 404,242 Fair value of identifiable assets acquired: Cash and cash equivalents 197,682 198,872 46,890 Securities 940,634 — 722,980 Loans 5,116,497 95,354 1,862,447 Core deposit and other intangible assets 69,555 4,129 24,163 Fixed and other assets 460,752 14,069 127,185 Total identifiable assets acquired 6,785,120 312,424 2,783,665 Fair value of liabilities assumed: Deposits 5,176,758 302,529 2,328,238 Borrowings 969,385 — 227,539 Other liabilities 73,652 24,041 8,700 Total liabilities assumed 6,219,795 326,570 2,564,477 Fair value of net identifiable assets acquired 565,325 (14,146 ) 219,188 Goodwill recognized (1) $ 1,218,041 $ 14,146 $ 185,054 (1) All of the goodwill for these transactions has been recorded in the Community Banking Segment. |
Securities
Securities | 3 Months Ended |
Mar. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | 4. SECURITIES The amortized cost and fair value of securities are as follows: (in thousands) Amortized Cost Gross Gross Fair Value Securities Available for Sale (AFS): March 31, 2017 U.S. Treasury $ 29,908 $ 37 $ — $ 29,945 U.S. government-sponsored entities 397,634 676 (3,104 ) 395,206 Residential mortgage-backed securities: Agency mortgage-backed securities 1,650,743 3,024 (10,753 ) 1,643,014 Agency collateralized mortgage obligations 514,232 347 (10,616 ) 503,963 Non-agency 2 — — 2 Commercial mortgage-backed securities 420 — (1 ) 419 States of the U.S. and political subdivisions 34,763 69 (154 ) 34,678 Other debt securities 21,899 68 (373 ) 21,594 Total debt securities 2,649,601 4,221 (25,001 ) 2,628,821 Equity securities 9,479 612 (97 ) 9,994 Total securities available for sale $ 2,659,080 $ 4,833 $ (25,098 ) $ 2,638,815 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 Securities Held to Maturity (HTM): March 31, 2017 U.S. Treasury $ 500 $ 139 $ — $ 639 U.S. government-sponsored entities 247,580 395 (4,255 ) 243,720 Residential mortgage-backed securities: Agency mortgage-backed securities 1,243,947 7,382 (6,795 ) 1,244,534 Agency collateralized mortgage obligations 798,506 841 (17,003 ) 782,344 Commercial mortgage-backed securities 81,750 508 (302 ) 81,956 States of the U.S. and political subdivisions 549,869 2,686 (18,851 ) 533,704 Total securities held to maturity $ 2,922,152 $ 11,951 $ (47,206 ) $ 2,886,897 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 Gross gains and gross losses were realized on securities as follows: Three Months Ended March 31, (in thousands) 2017 2016 Gross gains $ 3,400 $ 71 Gross losses (775 ) — Net gains $ 2,625 $ 71 As of March 31, 2017, the amortized cost and fair value of securities, by contractual maturities, were as follows: Available for Sale Held to Maturity (in thousands) Amortized Fair Value Amortized Fair Value Due in one year or less $ 119,899 $ 120,041 $ 390 $ 396 Due from one to five years 330,197 327,741 253,707 249,830 Due from five to ten years 31,143 30,918 68,397 68,666 Due after ten years 2,965 2,723 475,455 459,171 484,204 481,423 797,949 778,063 Residential mortgage-backed securities: Agency mortgage-backed securities 1,650,743 1,643,014 1,243,947 1,244,534 Agency collateralized mortgage obligations 514,232 503,963 798,506 782,344 Non-agency 2 2 — — Commercial mortgage-backed securities 420 419 81,750 81,956 Equity securities 9,479 9,994 — — Total securities $ 2,659,080 $ 2,638,815 $ 2,922,152 $ 2,886,897 Maturities may differ from contractual terms because borrowers may have the right to call or prepay obligations with or without penalties. Periodic payments are received on mortgage-backed securities based on the payment patterns of the underlying collateral. Following is information relating to securities pledged: March 31, December 31, (dollars in thousands) 2017 2016 Securities pledged (carrying value): To secure public deposits, trust deposits and for other purposes as required by law $ 3,145,072 $ 2,779,335 As collateral for short-term borrowings 323,658 322,038 Securities pledged as a percent of total securities 62.4 % 67.9 % Following are summaries of the fair values and unrealized losses of impaired securities, segregated by length of impairment: Less than 12 Months 12 Months or More Total (dollars in thousands) # Fair Value Unrealized # Fair Value Unrealized # Fair Value Unrealized Securities Available for Sale March 31, 2017 U.S. government-sponsored entities 13 $ 246,881 $ (3,104 ) — $ — $ — 13 $ 246,881 $ (3,104 ) Residential mortgage-backed securities: Agency mortgage-backed securities 56 1,176,464 (10,753 ) — — — 56 1,176,464 (10,753 ) Agency collateralized mortgage obligations 29 364,095 (6,990 ) 9 84,869 (3,626 ) 38 448,964 (10,616 ) Commercial mortgage-backed securities 1 419 (1 ) — — — 1 419 (1 ) States of the U.S. and political subdivisions 11 17,762 (72 ) 5 5,834 (82 ) 16 23,596 (154 ) Other debt securities — — — 3 4,534 (373 ) 3 4,534 (373 ) Equity securities 5 703 (97 ) — — — 5 703 (97 ) Total temporarily impaired securities AFS 115 $ 1,806,324 $ (21,017 ) 17 $ 95,237 $ (4,081 ) 132 $ 1,901,561 $ (25,098 ) 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 ) Securities Held to Maturity March 31, 2017 U.S. government-sponsored entities 11 $ 200,745 $ (4,255 ) — $ — $ — 11 $ 200,745 $ (4,255 ) Residential mortgage-backed securities: Agency mortgage-backed securities 38 695,915 (6,795 ) — — — 38 695,915 (6,795 ) Agency collateralized mortgage obligations 29 498,743 (13,236 ) 12 107,546 (3,767 ) 41 606,289 (17,003 ) Commercial mortgage-backed securities 3 14,875 (67 ) 1 7,684 (235 ) 4 22,559 (302 ) States of the U.S. and political subdivisions 103 279,356 (18,851 ) — — — 103 279,356 (18,851 ) Total temporarily impaired securities HTM 184 $ 1,689,634 $ (43,204 ) 13 $ 115,230 $ (4,002 ) 197 $ 1,804,864 $ (47,206 ) 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 ) We do not intend to sell the debt securities and it is not more likely than not that 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 other-than-temporary impairment (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. We did not recognize any OTTI losses on securities for the three months ended March 31, 2017 or 2016. States of the U.S. and Political Subdivisions Our municipal bond portfolio with a carrying amount of $584.5 million as of March 31, 2017 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 69.7% of the securities are from municipalities located throughout Pennsylvania, Ohio, Maryland, North Carolina and South Carolina. The average holding size of the securities in the municipal bond portfolio is $2.3 million. In addition to the strong stand-alone ratings, 66.0% of the municipalities have some formal credit enhancement insurance that strengthens the creditworthiness of their issue. Management reviews the credit profile of each issuer on a quarterly basis. |
Loans and Leases
Loans and Leases | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Loans and Leases | 5. LOANS AND LEASES Following is a summary of loans and leases, net of unearned income: (in thousands) Originated Loans and Leases Acquired Loans Total Loans and March 31, 2017 Commercial real estate $ 4,262,270 $ 4,506,087 $ 8,768,357 Commercial and industrial 2,857,584 935,095 3,792,679 Commercial leases 197,071 — 197,071 Total commercial loans and leases 7,316,925 5,441,182 12,758,107 Direct installment 1,758,895 206,223 1,965,118 Residential mortgages 1,551,928 790,239 2,342,167 Indirect installment 1,259,770 177 1,259,947 Consumer lines of credit 1,100,695 705,301 1,805,996 Other 46,315 — 46,315 Total loans and leases, net of unearned income $ 13,034,528 $ 7,143,122 $ 20,177,650 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 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 Regency consumer finance loan portfolio, these loans are not segregated from other consumer loans. The following table shows certain information relating to the Regency consumer finance loans: March 31, December 31, (dollars in thousands) 2017 2016 Regency consumer finance loans $ 173,786 $ 184,687 Percent of total loans and leases 0.9 % 1.2 % The following table shows certain information relating to commercial real estate loans: March 31, December 31, (dollars in thousands) 2017 2016 Commercial construction loans $ 1,050,129 $ 459,995 Percent of total loans and leases 5.2 % 3.1 % Commercial real estate: Percent owner-occupied 37.4 % 36.2 % Percent non-owner-occupied 62.6 % 63.8 % Acquired Loans All acquired loans were initially recorded at fair value at the acquisition date. Refer to the Acquired Loans section in Note 1 of our 2016 Annual Report on Form 10-K 310-20 310-30 (in thousands) March 31, 2017 December 31, Accounted for under ASC 310-30: Outstanding balance $ 7,205,696 $ 2,346,687 Carrying amount 6,644,633 2,015,904 Accounted for under ASC 310-20: Outstanding balance 502,001 342,015 Carrying amount 491,921 325,784 Total acquired loans: Outstanding balance 7,707,697 2,688,702 Carrying amount 7,136,554 2,341,688 The outstanding balance is the undiscounted sum of all amounts owed under the loan, including amounts deemed principal, interest, fees, penalties and other, whether or not currently due and whether or not any such amounts have been written or charged-off. The carrying amount of purchased credit impaired loans included in the table above totaled $11.8 million at March 31, 2017 and $2.8 million at December 31, 2016, 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 Three Months Ended March 31, (in thousands) 2017 2016 Balance at beginning of period $ 467,070 $ 256,120 Acquisitions 443,261 284,092 Reduction due to unexpected early payoffs (20,560 ) (9,375 ) Reclass from non-accretable 23,106 10,494 Disposals/transfers (36 ) (260 ) Accretion (25,241 ) (13,204 ) Balance at end of period $ 887,600 $ 527,867 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 the three months ended March 31, 2017, there was an overall improvement in cash flow expectations which resulted in a net reclassification of $23.1 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 $ 48,941 $ 5,084,475 $ 5,133,416 Non-accretable (25,673 ) (406,802 ) (432,475 ) Cash flows expected to be collected at acquisition 23,268 4,677,673 4,700,941 Accretable yield (3,323 ) (439,938 ) (443,261 ) Fair value of acquired loans at acquisition $ 19,945 $ 4,237,735 $ 4,257,680 In addition, loans purchased in the YDKN acquisition that were not subject to ASC 310-30 Credit Quality Management monitors the credit quality of our loan and lease portfolio using 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 (dollars in thousands) March 31, 2017 December 31, Non-accrual $ 81,390 $ 65,479 Troubled debt restructurings 23,988 20,428 Total non-performing 105,378 85,907 Other real estate owned (OREO) 50,088 32,490 Total non-performing $ 155,466 $ 118,397 Asset quality ratios: Non-performing 0.52 % 0.58 % Non-performing 0.77 % 0.79 % Non-performing 0.51 % 0.54 % The carrying value of residential OREO held as a result of obtaining physical possession upon completion of a foreclosure or through completion of a deed in lieu of foreclosure totaled $5.9 million at March 31, 2017 and $5.3 million at December 31, 2016. The recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process at March 31, 2017 and December 31, 2016 totaled $11.9 million and $12.0 million, respectively. 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 Non- Accrual Total Past Due Current Total Loans and Originated Loans and Leases March 31, 2017 Commercial real estate $ 5,923 $ 1 $ 23,040 $ 28,964 $ 4,233,306 $ 4,262,270 Commercial and industrial 5,007 3 34,826 39,836 2,817,748 2,857,584 Commercial leases 1,039 — 2,017 3,056 194,015 197,071 Total commercial loans and leases 11,969 4 59,883 71,856 7,245,069 7,316,925 Direct installment 7,973 4,092 7,675 19,740 1,739,155 1,758,895 Residential mortgages 9,797 1,966 4,466 16,229 1,535,699 1,551,928 Indirect installment 5,678 374 1,488 7,540 1,252,230 1,259,770 Consumer lines of credit 2,739 375 1,782 4,896 1,095,799 1,100,695 Other 242 121 1,000 1,363 44,952 46,315 Total originated loans and leases $ 38,398 $ 6,932 $ 76,294 $ 121,624 $ 12,912,904 $ 13,034,528 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 (in thousands) 30-89 Days Past Due ³ 90 Days and Still Non- Accrual Total Past Due (1) (2) Current Discount Total Loans Acquired Loans March 31, 2017 Commercial real estate $ 41,450 $ 39,243 $ 1,414 $ 82,107 $ 4,630,159 $ (206,179 ) $ 4,506,087 Commercial and industrial 7,587 7,736 2,854 18,177 977,012 (60,094 ) 935,095 Total commercial loans 49,037 46,979 4,268 100,284 5,607,171 (266,273 ) 5,441,182 Direct installment 5,669 2,183 81 7,933 196,563 1,727 206,223 Residential mortgages 19,069 14,075 — 33,144 800,460 (43,365 ) 790,239 Indirect installment — 2 — 2 75 100 177 Consumer lines of credit 11,395 5,974 747 18,116 703,422 (16,237 ) 705,301 Total acquired loans $ 85,170 $ 69,213 $ 5,096 $ 159,479 $ 7,307,691 $ (324,048 ) $ 7,143,122 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 (1) Past due information for acquired loans is based on the contractual balance outstanding at March 31, 2017 and December 31, 2016. (2) Acquired loans are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, as long as 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 Category Definition Pass in general, the condition and performance of the borrower is satisfactory or better Special Mention in general, the condition of the borrower has deteriorated, requiring an increased level of monitoring Substandard in general, the condition and performance of the borrower has significantly deteriorated and could further deteriorate if deficiencies are not corrected Doubtful in general, the condition of the borrower has significantly deteriorated and the collection in full of both principal and interest is highly questionable or improbable The use of these internally assigned credit quality categories within the commercial loan and lease portfolio permits management’s use of transition matrices to estimate a quantitative portion of credit risk. Our internal credit risk grading system is based on past experiences with similarly graded loans and leases and conforms with regulatory categories. In general, loan and lease risk ratings within each category are reviewed on an ongoing basis according to our policy for each class of loans and leases. Each quarter, management analyzes the resulting ratings, as well as other external statistics and factors such as delinquency, to track the migration performance of the commercial loan and lease portfolio. Loans and leases within the Pass credit category or that migrate toward the Pass credit category generally have a lower risk of loss compared to loans and leases that migrate toward the Substandard or Doubtful credit categories. Accordingly, management applies higher risk factors to Substandard and Doubtful credit categories. The following tables present a summary of our commercial loans and leases by credit quality category, segregated by loans and leases originated and loans acquired: Commercial Loan and Lease Credit Quality Categories (in thousands) Pass Special Substandard Doubtful Total Originated Loans and Leases March 31, 2017 Commercial real estate $ 4,068,403 $ 132,700 $ 60,958 $ 209 $ 4,262,270 Commercial and industrial 2,616,144 122,892 109,515 9,033 2,857,584 Commercial leases 190,641 3,711 2,719 — 197,071 Total originated commercial loans and leases $ 6,875,188 $ 259,303 $ 173,192 $ 9,242 $ 7,316,925 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 Acquired Loans March 31, 2017 Commercial real estate $ 3,699,904 $ 531,316 $ 274,506 $ 361 $ 4,506,087 Commercial and industrial 786,808 77,961 70,171 155 935,095 Total acquired commercial loans $ 4,486,712 $ 609,277 $ 344,677 $ 516 $ 5,441,182 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 Credit quality information for acquired loans is based on the contractual balance outstanding at March 31, 2017 and December 31, 2016. 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 consumer loans by payment status: Consumer Loan Credit Quality by Payment Status (in thousands) Performing Non- Performing Total Originated loans March 31, 2017 Direct installment $ 1,742,702 $ 16,193 $ 1,758,895 Residential mortgages 1,537,779 14,149 1,551,928 Indirect installment 1,258,084 1,686 1,259,770 Consumer lines of credit 1,097,781 2,914 1,100,695 Total originated consumer loans $ 5,636,346 $ 34,942 $ 5,671,288 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 Acquired loans March 31, 2017 Direct installment $ 206,138 $ 85 $ 206,223 Residential mortgages 788,656 1,583 790,239 Indirect installment 177 — 177 Consumer lines of credit 703,972 1,329 705,301 Total acquired consumer loans $ 1,698,943 $ 2,997 $ 1,701,940 December 31, 2016 Direct installment $ 79,142 $ — $ 79,142 Residential mortgages 397,798 — 397,798 Indirect installment 203 — 203 Consumer lines of credit 201,061 512 201,573 Total acquired consumer loans $ 678,204 $ 512 $ 678,716 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 Contractual Principal Balance Recorded Investment With No Specific Reserve Recorded Investment Specific Reserve Total Recorded Investment Specific Reserve Average Recorded Investment At or for the Three Months Ended March 31, 2017 Commercial real estate $ 27,470 $ 21,266 $ 1,795 $ 23,061 $ 209 $ 21,612 Commercial and industrial 36,889 12,055 22,299 34,354 9,038 29,065 Commercial leases 2,017 2,017 — 2,017 — 2,723 Total commercial loans and leases 66,376 35,338 24,094 59,432 9,247 53,400 Direct installment 18,062 16,193 — 16,193 — 15,572 Residential mortgages 15,151 14,149 — 14,149 — 13,758 Indirect installment 4,168 1,686 — 1,686 — 1,933 Consumer lines of credit 3,831 2,914 — 2,914 — 2,950 Other 1,000 1,000 — 1,000 — 1,000 Total $ 108,588 $ 71,280 $ 24,094 $ 95,374 $ 9,247 $ 88,613 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 Interest income continued to accrue on certain impaired loans and totaled approximately $1.9 million and $1.2 million for the three months ended March 31, 2017 and 2016, respectively. The above tables do not reflect the additional allowance for credit losses relating to acquired loans in the following pools and categories: (in thousands) March 31, 2017 December 31, 2016 Commercial real estate $ 3,734 $ 4,538 Commercial and industrial 127 500 Total commercial loans 3,861 5,038 Direct installment 994 1,005 Residential mortgages 795 632 Indirect installment 221 221 Consumer lines of credit 697 372 Total allowance on acquired loans $ 6,568 $ 7,268 Troubled Debt Restructurings TDRs are loans whose contractual terms have been modified in a manner that grants a concession to a borrower experiencing financial difficulties. TDRs typically result from loss mitigation activities and could include the extension of a maturity date, interest rate reduction, principal forgiveness, deferral or decrease in payments for a period of time and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of collateral. Following is a summary of the payment status of TDRs: (in thousands) Originated Acquired Total March 31, 2017 Accruing: Performing $ 17,552 $ 272 $ 17,824 Non-performing 19,659 4,329 23,988 Non-accrual 8,862 562 9,424 Total TDRs $ 46,073 $ 5,163 $ 51,236 December 31, 2016 Accruing: Performing $ 17,105 $ 365 $ 17,470 Non-performing 20,252 176 20,428 Non-accrual 9,035 — 9,035 Total TDRs $ 46,392 $ 541 $ 46,933 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 (in thousands) March 31, 2017 December 31, Specific reserves for commercial TDRs $ 253 $ 291 Pooled reserves for individual loans under $500 234 276 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 at both March 31, 2017 and December 31, 2016. 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: Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 (dollars in thousands) Number of Contracts Pre- Modification Recorded Investment Post- Outstanding Recorded Investment Number of Contracts Pre- Modification Recorded Investment Post- Outstanding Recorded Investment Commercial real estate 1 $ 114 $ 109 4 $ 778 $ 760 Commercial and industrial — — — 2 5,565 3,279 Total commercial loans 1 114 109 6 6,343 4,039 Direct installment 171 1,488 1,412 145 1,991 1,961 Residential mortgages 8 163 176 18 968 951 Indirect installment 5 17 14 3 11 12 Consumer lines of credit 22 742 729 20 243 238 Total 207 $ 2,524 $ 2,440 192 $ 9,556 $ 7,201 Following is a summary of originated TDRs, by class, for which there was a payment default, excluding loans that were either charged-off Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial real estate — $ — — $ — Commercial and industrial — — — — Total commercial loans — — — — Direct installment 29 82 28 175 Residential mortgages 2 224 1 50 Indirect installment 6 10 4 5 Consumer lines of credit 1 34 1 10 Total 38 $ 350 34 $ 240 |
Allowance for Credit Losses
Allowance for Credit Losses | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Allowance for Credit Losses | 6. ALLOWANCE FOR CREDIT LOSSES The allowance for credit losses addresses credit losses inherent in the existing loan and lease portfolio and is presented as a reserve against loans and leases on the consolidated balance sheets. Loan and lease losses are charged off against the allowance for credit losses, with recoveries of amounts previously charged off credited to the allowance for credit losses. Provisions for credit losses are charged to operations based on management’s periodic evaluation of the adequacy of the allowance for credit losses. Following is a summary of changes in the allowance for credit losses, by loan and lease class: (in thousands) Balance at Beginning of Charge- Recoveries Net Charge- Provision Balance at End of Three Months Ended March 31, 2017 Commercial real estate $ 46,635 $ (988 ) $ 361 $ (627 ) $ 381 $ 46,389 Commercial and industrial 47,991 (2,463 ) 474 (1,989 ) 7,568 53,570 Commercial leases 3,280 (506 ) 1 (505 ) 738 3,513 Total commercial loans and leases 97,906 (3,957 ) 836 (3,121 ) 8,687 103,472 Direct installment 21,391 (2,874 ) 628 (2,246 ) 1,065 20,210 Residential mortgages 10,082 (180 ) 161 (19 ) 147 10,210 Indirect installment 10,564 (2,370 ) 781 (1,589 ) 655 9,630 Consumer lines of credit 9,456 (458 ) 165 (293 ) (280 ) 8,883 Other 1,392 (973 ) 327 (646 ) 1,063 1,809 Total allowance on originated loans and leases 150,791 (10,812 ) 2,898 (7,914 ) 11,337 154,214 Purchased credit-impaired loans 572 — — — 88 660 Other acquired loans 6,696 (482 ) 269 (213 ) (575 ) 5,908 Total allowance on acquired loans 7,268 (482 ) 269 (213 ) (487 ) 6,568 Total allowance $ 158,059 $ (11,294 ) $ 3,167 $ (8,127 ) $ 10,850 $ 160,782 Three Months Ended March 31, 2016 Commercial real estate $ 41,741 $ (1,369 ) $ 597 $ (772 ) $ 2,929 $ 43,898 Commercial and industrial 41,023 (298 ) 190 (108 ) 6,948 47,863 Commercial leases 2,541 (114 ) 14 (100 ) 377 2,818 Total commercial loans and leases 85,305 (1,781 ) 801 (980 ) 10,254 94,579 Direct installment 21,587 (2,667 ) 454 (2,213 ) 1,351 20,725 Residential mortgages 7,909 (85 ) 19 (66 ) (33 ) 7,810 Indirect installment 9,889 (1,942 ) 262 (1,680 ) 856 9,065 Consumer lines of credit 9,582 (474 ) 56 (418 ) (197 ) 8,967 Other 1,013 (554 ) 6 (548 ) 609 1,074 Total allowance on originated loans and leases 135,285 (7,503 ) 1,598 (5,905 ) 12,840 142,220 Purchased credit-impaired loans 834 (160 ) — (160 ) 30 704 Other acquired loans 5,893 (221 ) 306 85 (1,102 ) 4,876 Total allowance on acquired loans 6,727 (381 ) 306 (75 ) (1,072 ) 5,580 Total allowance $ 142,012 $ (7,884 ) $ 1,904 $ (5,980 ) $ 11,768 $ 147,800 Following is a summary of the individual and collective originated allowance for credit losses and corresponding loan and lease balances by class: Originated Allowance Originated Loans and Leases Outstanding (in thousands) Individually Evaluated for Impairment Collectively Evaluated for Impairment Loans and Individually Evaluated for Impairment Collectively Evaluated for Impairment March 31, 2017 Commercial real estate $ 209 $ 46,180 $ 4,262,270 $ 14,989 $ 4,247,281 Commercial and industrial 9,038 44,532 2,857,584 32,157 2,825,427 Commercial leases — 3,513 197,071 — 197,071 Total commercial loans and leases 9,247 94,225 7,316,925 47,146 7,269,779 Direct installment — 20,210 1,758,895 — 1,758,895 Residential mortgages — 10,210 1,551,928 — 1,551,928 Indirect installment — 9,630 1,259,770 — 1,259,770 Consumer lines of credit — 8,883 1,100,695 — 1,100,695 Other — 1,809 46,315 — 46,315 Total $ 9,247 $ 144,967 $ 13,034,528 $ 47,146 $ 12,987,382 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 |
Loan Servicing
Loan Servicing | 3 Months Ended |
Mar. 31, 2017 | |
Transfers and Servicing [Abstract] | |
Loan Servicing | 7. LOAN SERVICING Mortgage Loan Servicing We retain the servicing rights on certain mortgage loans sold. The unpaid principal balance of mortgage loans serviced for others was $2.7 billion and $1.8 billion as of March 31, 2017 and December 31, 2016, respectively. Mortgage servicing fees, which include late fees and ancillary fees, are recorded in mortgage banking operations income in the consolidated statements of income, and totaled $1.6 million and $0.9 million, respectively, in the three months ended March 31, 2017 and 2016. Following is a summary of the MSR activity: Three Months Ended March 31, (in thousands) 2017 2016 Balance at beginning of period $ 13,521 $ 8,921 Fair value of MSRs acquired 8,553 — Additions 1,454 884 Payoffs and curtailments (139 ) (98 ) Amortization (523 ) (467 ) Balance at end of period $ 22,866 $ 9,240 Fair value, beginning of period $ 17,546 $ 11,503 Fair value, end of period 26,962 11,538 We did not have a valuation allowance for MSRs for either period presented in the table above. The fair value of MSRs is highly sensitive to changes in assumptions and is determined by estimating the present value of the asset’s future cash flows utilizing market-based prepayment rates, discount rates and other assumptions validated through comparison to trade information, industry surveys and with the use of independent third party appraisals. Changes in prepayment speed assumptions have the most significant impact on the fair value of MSRs. Generally, as interest rates decline, mortgage loan prepayments accelerate due to increased refinance activity, which results in a decrease in the fair value of the MSR. Measurement of fair value is limited to the conditions existing and the assumptions utilized as of a particular point in time, and those assumptions may not be appropriate if they are applied at a different time. Following is a summary of the sensitivity of the fair value of MSRs to changes in key assumptions: (dollars in thousands) March 31, 2017 December 31, Weighted average life (months) 82.2 79.0 Constant prepayment rate (annualized) 9.4 % 9.9 % Discount rate 9.7 % 9.8 % Effect on fair value due to change in interest rates: + 0.25% $ 1,229 $ 692 + 0.50% 2,298 1,288 - 0.25% (1,370 ) (789 ) - 0.50% (2,839 ) (1,680 ) The sensitivity calculations above are hypothetical and should not be considered to be predictive of future performance. Changes in fair value based on adverse changes in assumptions generally cannot be extrapolated because the relationship of the changes in assumptions to fair value may not be linear. Also, in this table, the effects of an adverse variation in a particular assumption on the fair value of the MSRs is calculated without changing any other assumptions, while in reality, changes in one factor may result in changing another, which may magnify or contract the effect of the change. SBA-Guaranteed Beginning in March 2017, as a result of the YDKN acquisition, we retain the servicing rights on SBA-guaranteed SBA-guaranteed Following is a summary of the activity in SBA servicing assets: Three Months ended March 31, 2017 (in thousands) Balance at beginning of period $ — Fair value of servicing rights acquired 5,399 Additions — Amortization (60 ) Balance at end of period $ 5,339 The fair value of the SBA servicing assets is compared to the amortized basis when certain triggering events occur. If the amortized basis exceeds the fair value, the asset is considered impaired and is written down to fair value through a valuation allowance on the asset and a charge against SBA income. We did not have a valuation allowance for SBA servicing assets as of March 31, 2017. |
Borrowings
Borrowings | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
Borrowings | 8. BORROWINGS Following is a summary of short-term borrowings: (in thousands) March 31, 2017 December 31, Securities sold under repurchase agreements $ 310,751 $ 313,062 Federal Home Loan Bank advances 1,960,000 1,025,000 Federal funds purchased 1,185,000 1,037,000 Subordinated notes 130,212 127,948 Total short-term borrowings $ 3,585,963 $ 2,503,010 Borrowings with original maturities of one year or less are classified as short-term. Securities sold under repurchase agreements is comprised of customer repurchase agreements, which are sweep accounts with next day maturities utilized by larger commercial customers to earn interest on their funds. Securities are pledged to these customers in an amount equal to the outstanding balance. Following is a summary of long-term borrowings: (in thousands) March 31, 2017 December 31, Federal Home Loan Bank advances $ 330,098 $ 305,110 Subordinated notes 87,558 87,147 Junior subordinated debt 109,987 48,600 Other subordinated debt 168,563 98,637 Total long-term borrowings $ 696,206 $ 539,494 Our banking affiliate has available credit with the FHLB of $6.9 billion of which $2.3 billion was utilized as of March 31, 2017. 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 1.03% to 4.19% for the three months ended March 31, 2017 and 0.95% to 4.19% for the year ended December 31, 2016. On May 1, 2017, we repaid $7.5 million in other subordinated debt that we acquired from YDKN. The junior subordinated debt is comprised of debt securities issued by FNB in relation to our six unconsolidated subsidiary trusts (collectively, the Trusts), 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 March 31, 2017: (dollars in thousands) Trust Preferred Securities Common Securities Junior Subordinated Debt Stated Maturity Date Interest Rate and Rate Reset Factor F.N.B. Statutory Trust II $ 21,500 $ 665 $ 22,165 6/15/36 2.78 % LIBOR + 165 basis points (bps) Omega Financial Capital Trust I 26,000 1,114 26,445 10/18/34 3.21 % LIBOR + 219 bps Yadkin Valley Statutory Trust I 25,000 774 20,677 12/15/37 2.45 % LIBOR + 132 bps FNB Financial Services Capital Trust I 25,000 774 21,635 9/30/35 2.59 % LIBOR + 146 bps American Community Capital Trust II 10,000 310 10,455 12/15/33 3.80 % LIBOR + 280 bps Crescent Financial Capital Trust I 8,000 248 8,610 10/07/33 4.12 % LIBOR + 310 bps Total $ 115,500 $ 3,885 $ 109,987 |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 3 Months Ended |
Mar. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities | 9. 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 reported in the consolidated balance sheets in other assets and derivative liabilities are reported in the consolidated balance sheets in 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: March 31, 2017 December 31, 2016 Notional Fair Value Notional Fair Value (in thousands) Amount Asset Liability Amount Asset Liability Gross Derivatives Subject to master netting arrangements: Interest rate contracts – designated $ 655,000 $ 603 $ 1,494 $ 450,000 $ 9,256 $ 1,171 Interest rate swaps – not designated 1,825,706 792 13,966 1,689,157 12,720 34,046 Equity contracts – not designated 1,180 46 — 1,180 61 — Total subject to master netting arrangements 2,481,886 1,441 15,460 2,140,337 22,037 35,217 Not subject to master netting arrangements: Interest rate swaps – not designated 1,825,706 30,263 13,820 1,689,157 32,170 11,866 Interest rate lock commitments – not designated 76,087 1,252 26 — — — Forward delivery commitments – not designated 85,065 20 376 — — — Credit risk contracts – not designated 186,037 15 106 174,538 13 123 Equity contracts – not designated 1,180 — 46 1,180 — 61 Total not subject to master netting arrangements 2,174,075 31,550 14,374 1,864,875 32,183 12,050 Total $ 4,655,961 $ 32,991 $ 29,834 $ 4,005,212 $ 54,220 $ 47,267 On January 3, 2017, the Chicago Mercantile Exchange (CME) enacted a rule-change which in effect results in the legal characterization of variation margin payments for certain derivative contracts as settlement of the derivatives mark-to-market Derivatives Designated as Hedging Instruments under GAAP Interest Rate Contracts. Following is a summary of key data related to interest rate contracts: (in thousands) March 31, 2017 December 31, Notional amount $ 655,000 $ 450,000 Fair value included in other assets 603 9,256 Fair value included in other liabilities 1,494 1,171 The following table shows amounts reclassified from accumulated other comprehensive income (AOCI) for the three months ended March 31, 2017: (in thousands) Total Net of Tax Reclassified from AOCI to interest income $ 506 $ 329 Reclassified from AOCI to interest expense 148 96 As of March 31, 2017, the maximum length of time over which forecasted interest cash flows are hedged is six years. In the twelve months that follow March 31, 2017, we expect to reclassify from the amount currently reported in AOCI net derivative gains of $128,000 ($82,000 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 three months ended March 31, 2017 and 2016, there was no hedge ineffectiveness. Also, during the three months ended March 31, 2017 and 2016, 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: (in thousands) March 31, 2017 December 31, Notional amount $ 3,651,412 $ 3,378,314 Fair value included in other assets 31,055 44,890 Fair value included in other liabilities 27,786 45,912 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. Interest Rate Lock Commitments . Forward Delivery Commitments . commitment-to-closing Credit Risk Contracts. Risk participation agreements sold with notional amounts totaling $133.9 million as of March 31, 2017 have remaining terms ranging from eight months to thirteen years. Under these agreements, our maximum exposure assuming a customer defaults on their obligation to perform under certain derivative swap contracts with third parties would be $105,000 and $123,000 at March 31, 2017 and December 31, 2016, respectively. The fair values of risk participation agreements purchased and sold were not material at March 31, 2017 and December 31, 2016. 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 $0.8 million and $1.1 million as of March 31, 2017 and December 31, 2016, respectively, in excess of amounts previously posted as collateral with the respective counterparty. The following table presents information about derivative assets and derivative liabilities that are subject to enforceable master netting arrangements as well as those not subject to enforceable master netting arrangements: (in thousands) Gross Amount Gross Offset in the Net Amount March 31, 2017 Derivative Assets Subject to master netting arrangements: Interest rate contracts Designated $ 603 — $ 603 Not designated 792 — 792 Equity contracts – not designated 46 — 46 Not subject to master netting arrangements: Interest rate contracts – not designated 30,263 — 30,263 Interest rate lock commitments – not designated 1,252 — 1,252 Forward delivery commitments – not designated 20 — 20 Credit risk contracts – not designated 15 — 15 Total derivative assets $ 32,991 — $ 32,991 Derivative Liabilities Subject to master netting arrangements: Interest rate contracts Designated $ 1,494 — $ 1,494 Not designated 13,966 — 13,966 Not subject to master netting arrangements: Interest rate contracts – not designated 13,820 — 13,820 Interest rate lock commitments – not designated 26 — 26 Forward delivery commitments – not designated 376 — 376 Credit risk contracts – not designated 106 — 106 Equity contracts – not designated 46 — 46 Total derivative liabilities $ 29,834 — $ 29,834 (in thousands) Gross Amount Gross Amounts Offset in the Sheet Net Amount Presented in the Balance 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 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 March 31, 2017 Derivative Assets Interest rate contracts: Designated $ 603 $ 603 — $ — Not designated 792 680 — 112 Equity contracts – not designated 46 46 — — Total $ 1,441 $ 1,329 — $ 112 Derivative Liabilities Interest rate contracts: Designated $ 1,494 $ 1,494 — $ — Not designated 13,966 13,208 — 758 Total $ 15,460 $ 14,702 — $ 758 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 The following table presents the effect of certain derivative financial instruments on the income statement: Three Months Ended March 31, (in thousands) Income Statement Location 2017 2016 Interest Rate Contracts Interest income - loans and leases $ 506 $ 687 Interest Rate Contracts Interest expense – short-term borrowings 148 150 Interest Rate Swaps Other income (219 ) (41 ) Credit Risk Contracts Other income 19 (71 ) |
Commitments, Credit Risk and Co
Commitments, Credit Risk and Contingencies | 3 Months Ended |
Mar. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Credit Risk and Contingencies | 10. 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 (in thousands) March 31, 2017 December 31, 2016 Commitments to extend credit $ 6,278,542 $ 4,424,834 Standby letters of credit 135,120 117,732 At March 31, 2017, funding of 69.5% 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, subordinated notes issued by FNB Financial Services, LP, a wholly-owned finance subsidiary, are fully and unconditionally guaranteed by FNB. These subordinated notes are included in the summaries of short-term borrowings and long-term borrowings in Note 8. 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). Such threatened claims, litigation, investigations, regulatory and administrative proceedings typically entail matters that are considered incidental to the normal conduct of business. 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. In these instances, if we determine that we have meritorious defenses, we will engage in an aggressive defense. However, if management determines, in consultation with counsel, that settlement of a matter is in the best interest of our Company and our shareholders, we may do so. 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 the consolidated financial position, although future accruals could have a material effect on net income in a given period. |
Stock Incentive Plans
Stock Incentive Plans | 3 Months Ended |
Mar. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Incentive Plans | 11. 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 did not issue any performance-based restricted stock units during the first three months of 2017 or 2016. For performance-based restricted stock awards granted, the 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. As of March 31, 2017, we had available up to 2,997,769 shares of common stock to issue under these Plans. The unvested restricted stock awards are eligible to receive cash dividends or dividend equivalents which are ultimately used to purchase additional shares of stock and are subject to forfeiture if the requisite service period is not completed or the specified performance criteria are not met. These awards are subject to certain accelerated vesting provisions upon retirement, death, disability or in the event of a change of control as defined in the award agreements. The following table summarizes the activity relating to restricted stock awards during the periods indicated: Three Months Ended March 31, 2017 2016 Awards Weighted Average Grant Awards Weighted Average Grant Unvested awards outstanding at beginning of period 1,836,363 $ 12.97 1,548,444 $ 12.85 Vested (243,982 ) 11.83 (363,799 ) 12.07 Forfeited (2,950 ) 13.00 (6,368 ) 12.79 Dividend reinvestment 12,253 14.54 10,870 11.50 Unvested awards outstanding at end of period 1,601,684 13.16 1,189,147 13.08 The following table provides certain information related to restricted stock awards: (in thousands) Three Months Ended March 31, 2017 2016 Stock-based compensation expense $ 1,760 $ 1,136 Tax benefit related to stock-based compensation expense 616 398 Fair value of awards vested 3,802 4,424 As of March 31, 2017, there was $8.3 million of unrecognized compensation cost related to unvested restricted stock awards, including $0.4 million that is subject to accelerated vesting under the Plan’s immediate vesting upon retirement provision for awards granted prior to the adoption of ASC 718, Compensation – Stock Compensation (dollars in thousands) Service- Awards Performance- Based Awards Total Unvested restricted stock awards 830,140 771,544 1,601,684 Unrecognized compensation expense $ 3,784 $ 4,494 $ 8,278 Intrinsic value $ 12,344 $ 11,473 $ 23,817 Weighted average remaining life (in years) 1.72 1.77 1.75 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 relating to stock options during the periods indicated: Three Months Ended March 31, 2017 2016 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options outstanding at beginning of period 892,532 $ 8.95 435,340 $ 8.86 Assumed from acquisitions 207,645 8.92 1,707,036 7.83 Exercised (131,792 ) 9.44 (24,806 ) 6.38 Forfeited (49,281 ) 10.91 (92,650 ) 6.69 Options outstanding and exercisable at end of period 919,104 8.77 2,024,920 8.12 The intrinsic value of outstanding and exercisable stock options at March 31, 2017 was $6.0 million. Warrants In conjunction with our participation in the UST’s 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 was reduced in half to 651,042 shares on 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 Annapolis Bancorp, Inc. (ANNB) acquisition on April 6, 2013, the warrant issued by ANNB to the UST under the CPP has been converted into a warrant to purchase up to 342,564 shares of 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 392,475, with a resulting lower exercise price of $3.12 per share as of March 31, 2017. The warrant, which was recorded at its fair value on April 6, 2013, was sold at auction by the UST and expires in 2019. In conjunction with the YDKN acquisition on March 11, 2017, the warrant issued by YDKN to the UST under the CPP has been converted into a warrant to purchase up to 207,320 shares of our common stock at an exercise price of $9.63 per share. The warrant, which was recorded at its fair value on March 11, 2017, was sold at auction by the UST and expires in 2019. |
Retirement Plans
Retirement Plans | 3 Months Ended |
Mar. 31, 2017 | |
Compensation and Retirement Disclosure [Abstract] | |
Retirement Plans | 12. RETIREMENT PLANS 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: Three Months Ended March 31, (in thousands) 2017 2016 401(k) contribution expense $ 2,767 $ 2,462 FNB also sponsors an ERISA Excess Lost Match Plan for certain officers. This plan provides retirement benefits equal to the difference, if any, between the maximum benefit allowable under the Internal Revenue Code and the amount that would have been provided under the qualified 401(k) defined contribution plan, if no limits were applied. Additionally, we sponsor a qualified non-contributory non-qualified Three Months Ended March 31, (in thousands) 2017 2016 Service cost $ (4 ) $ (4 ) Interest cost 1,477 1,544 Expected return on plan assets (2,427 ) (2,353 ) Amortization: Unrecognized prior service cost 2 2 Unrecognized loss 628 608 Net periodic pension credit $ (324 ) $ (203 ) |
Other Comprehensive Income
Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2017 | |
Equity [Abstract] | |
Other Comprehensive Income | 13. 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 Net Gains Derivative Instruments Unrecognized Postretirement Obligations Total Three Months Ended March 31, 2017 Balance at beginning of period $ (18,222 ) $ 5,254 $ (48,401 ) $ (61,369 ) Other comprehensive income before reclassifications 6,032 (1,022 ) 410 5,420 Amounts reclassified from AOCI (787 ) (233 ) — (1,020 ) Net current period other comprehensive income 5,245 (1,255 ) 410 4,400 Balance at end of period $ (12,977 ) $ 3,999 $ (47,991 ) $ (56,969 ) 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 statements of income. |
Earnings per Common Share
Earnings per Common Share | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share | 14. EARNINGS PER COMMON SHARE Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding net of unvested shares of restricted stock. Diluted earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding, adjusted for the dilutive effect of potential common shares issuable for stock options, warrants and restricted shares, as calculated using the treasury stock method. Adjustments to the weighted average number of shares of common stock outstanding are made only when such adjustments dilute earnings per common share. The following table sets forth the computation of basic and diluted earnings per common share: Three Months Ended March 31, ( 2017 2016 Net income $ 22,979 $ 26,132 Less: Preferred stock dividends 2,010 2,010 Net income available to common stockholders $ 20,969 $ 24,122 Basic weighted average common shares outstanding 237,379,260 193,585,702 Net effect of dilutive stock options, warrants and restricted stock 1,875,389 1,292,220 Diluted weighted average common shares outstanding 239,254,649 194,877,922 Earnings per common share: Basic $ 0.09 $ 0.12 Diluted $ 0.09 $ 0.12 The following table shows the average shares excluded from the above calculation as their effect would have been anti-dilutive: Three Months Ended March 31, 2017 2016 Average shares excluded from the diluted earnings per common share calculation 81,755 15,501 |
Cash Flow Information
Cash Flow Information | 3 Months Ended |
Mar. 31, 2017 | |
Supplemental Cash Flow Elements [Abstract] | |
Cash Flow Information | 15. CASH FLOW INFORMATION Following is a summary of supplemental cash flow information: Three Months Ended March 31, 2017 2016 (in thousands) Interest paid on deposits and other borrowings $ 18,606 $ 13,794 Income taxes paid — — Transfers of loans to other real estate owned 20,517 8,049 Financing of other real estate owned sold — 62 |
Business Segments
Business Segments | 3 Months Ended |
Mar. 31, 2017 | |
Segment Reporting [Abstract] | |
Business Segments | 16. 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, international banking, business credit, capital markets and lease financing. Consumer banking products and services include deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. • The Wealth Management segment provides a broad range of personal and corporate fiduciary services including the administration of decedent and trust estates. In addition, it offers various alternative products, including securities brokerage and investment advisory services, mutual funds and annuities. • The Insurance segment includes a full-service insurance agency offering all lines of commercial and personal insurance through major carriers. The Insurance segment also includes a reinsurer. • The Consumer Finance segment primarily makes installment loans to individuals and purchases installment sales finance contracts from retail merchants. The Consumer Finance segment activity is funded through the sale of subordinated notes, which are issued by a wholly-owned subsidiary and guaranteed by 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 Management Insurance Consumer Parent and Consolidated At or for the Three Months Ended March 31, 2017 Interest income $ 182,358 $ — $ 20 $ 9,902 $ 2,413 $ 194,693 Interest expense 18,865 — — 922 2,154 21,941 Net interest income 163,493 — 20 8,980 259 172,752 Provision for credit losses 8,198 — — 1,786 866 10,850 Non-interest 41,384 9,549 4,325 710 (852 ) 55,116 Non-interest 167,393 7,540 3,315 5,231 978 184,457 Amortization of intangibles 2,982 61 55 — — 3,098 Income tax expense (benefit) 6,148 711 347 1,067 (1,789 ) 6,484 Net income (loss) 20,156 1,237 628 1,606 (648 ) 22,979 Total assets 30,007,404 22,130 20,514 184,006 (43,359 ) 30,190,695 Total intangibles 2,360,557 10,353 12,285 1,809 — 2,385,004 At or for the Three Months Ended March 31, 2016 Interest income $ 143,978 $ — $ 22 $ 9,785 $ 1,969 $ 155,754 Interest expense 12,594 — — 941 1,865 15,400 Net interest income 131,384 — 22 8,844 104 140,354 Provision for credit losses 9,917 — — 1,526 325 11,768 Non-interest 31,233 8,816 4,194 716 1,085 46,044 Non-interest 118,048 7,089 3,301 5,204 357 133,999 Amortization of intangibles 2,441 65 143 — — 2,649 Income tax expense (benefit) 10,117 605 275 1,112 (259 ) 11,850 Net income 22,094 1,057 497 1,718 766 26,132 Total assets 20,151,815 20,540 21,680 188,547 (58,058 ) 20,324,524 Total intangibles 1,062,079 10,383 12,779 1,809 — 1,087,050 (1) Excludes amortization of intangibles, which is presented separately. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 17. 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 March 31, 2017, 99.5% 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 0.5% 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 and IRLCs utilize Level 3 inputs. Credit valuation estimates of current credit spreads are used to evaluate the likelihood of our default and the default of our counterparties. However, as of March 31, 2017, 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. The fair value of IRLCs is based upon the estimated fair value of the underlying mortgage loan, including the expected cash flows related to the MSRs and the estimated percentage of IRLCs that will result in a closed mortgage loan. Loans Held For Sale Beginning in 2017, residential mortgage loans held for sale are carried at fair value under the FVO. Prior to 2017, residential mortgage loans held for sale were carried at the lower of cost or fair value accounting, under which, periodically, it may have been necessary to record non-recurring SBA loans held for sale are carried under lower of cost or fair value accounting, for which, 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 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 March 31, 2017 Assets Measured at Fair Value Debt securities available for sale: U.S. Treasury $ — $ 29,945 $ — $ 29,945 U.S. government-sponsored entities — 395,206 — 395,206 Residential mortgage-backed securities: Agency mortgage-backed securities — 1,643,014 — 1,643,014 Agency collateralized mortgage obligations — 503,963 — 503,963 Non-agency — 2 — 2 Commercial mortgage-backed securities — 419 — 419 States of the U.S. and political subdivisions — 34,678 — 34,678 Other debt securities — 9,547 12,047 21,594 Total debt securities available for sale — 2,616,774 12,047 2,628,821 Equity securities available for sale: Fixed income mutual fund 3,723 5,353 — 9,076 Financial services industry — 760 — 760 Insurance services industry 158 — — 158 Total equity securities available for sale 3,881 6,113 — 9,994 Total securities available for sale 3,881 2,622,887 12,047 2,638,815 Loans held for sale — 11,121 — 11,121 Derivative financial instruments: Trading — 31,101 — 31,101 Not for trading — 638 1,252 1,890 Total derivative financial instruments — 31,739 1,252 32,991 Total assets measured at fair value on a recurring basis $ 3,881 $ 2,665,747 $ 13,299 $ 2,682,927 Liabilities Measured at Fair Value Derivative financial instruments: Trading — $ 27,832 — $ 27,832 Not for trading — 2,002 — 2,002 Total derivative financial instruments — 29,834 — 29,834 Total liabilities measured at fair value on a recurring basis — $ 29,834 — $ 29,834 (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 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) Other Debt Securities Equity Residential Non-Agency Collateralized Mortgage Obligations Interest Rate Lock Commitments Total Three Months Ended March 31, 2017 Balance at beginning of period $ — $ 492 $ 894 $ — $ 1,386 Total gains (losses) – realized/unrealized: Included in earnings — — 4 — 4 Included in other comprehensive income — 86 (6 ) — 80 Accretion included in earnings (1 ) — 1 — — Purchases, issuances, sales and settlements: Purchases 12,048 — — — 12,048 Issuances — — — — — Sales/redemptions — — (874 ) — (874 ) Settlements — — (19 ) — (19 ) Transfers from Level 3 — (578 ) — — (578 ) Transfers into Level 3 — — — 1,252 1,252 Balance at end of period $ 12,047 $ — $ — $ 1,252 $ 13,299 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 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. During the first three months of 2017, we acquired $12.0 million in other debt securities from YDKN that are measured at Level 3. During the first three months of 2017, we transferred equity securities totaling $0.6 million from Level 3 to Level 2. There were no transfers of assets or liabilities between the hierarchy levels during the first three months of 2016. For the three months ended March 31, 2017 and 2016, there were no gains or losses included in earnings attributable to the change in unrealized gains or losses relating to assets still held as of those dates. The total (losses) gains included in earnings are in the net securities (losses) gains line item in the consolidated statements of 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 March 31, 2017 Impaired loans — $ 1,812 $ 6,953 $ 8,765 Other real estate owned — 643 1,199 1,842 December 31, 2016 Impaired loans — $ 500 $ 5,883 $ 6,383 Other real estate owned — 11,017 3,181 14,198 Substantially all of the fair value amounts in the table above were estimated at a date during the three months or twelve months ended March 31, 2017 and December 31, 2016, respectively. 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 $2.0 million was written down to $1.6 million (fair value of $1.8 million less estimated costs to sell of $0.2 million), resulting in a loss of $0.4 million, which was included in earnings for the three months ended March 31, 2017. Fair Value of Financial Instruments The following methods and assumptions were used to estimate the fair value of each financial instrument: Cash and Cash Equivalents, Accrued Interest Receivable and Accrued Interest Payable. Securities. Loans and Leases. Loan Servicing Rights SBA-servicing 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 March 31, 2017 Financial Assets Cash and cash equivalents $ 450,383 $ 450,383 $ 450,383 $ — $ — Securities available for sale 2,638,815 2,638,815 3,881 2,622,887 12,047 Securities held to maturity 2,922,152 2,886,897 — 2,886,897 — Net loans and leases (1) 20,092,138 19,823,712 — 11,121 19,812,591 Loan servicing rights 28,205 32,301 — — 32,301 Derivative assets 32,991 32,991 — 31,739 1,252 Accrued interest receivable 77,638 77,638 77,638 — — Financial Liabilities Deposits 21,326,272 21,298,707 17,446,603 3,852,104 — Short-term borrowings 3,585,963 3,586,486 3,586,486 — — Long-term borrowings 696,206 688,209 — — 688,209 Derivative liabilities 29,834 29,834 — 29,834 — Accrued interest payable 10,947 10,947 10,947 — — 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 (1) 14,750,792 14,446,274 — — 14,464,274 Loan servicing rights 13,521 17,546 — — 17,546 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 — — (1) Includes loans held for sale. |
Summary of Significant Accoun27
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
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 March 31, 2017 balance sheet have been evaluated for potential recognition or disclosure in the consolidated financial statements through the date of the filing of the consolidated financial statements with the Securities and Exchange Commission (SEC). Certain information and note disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The interim operating results are not necessarily indicative of operating results FNB expects for the full year. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in FNB’s Annual Report on Form 10-K |
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 and income taxes. |
Loans Held for Sale and Loan Commitments | Loans Held for Sale and Loan Commitments Certain of our residential mortgage loans are originated for sale in the secondary mortgage loan market. Effective January 1, 2017, we made an automatic election to account for all future residential mortgage loans under the fair value option (FVO). The FVO election is intended to better reflect the underlying economics and better facilitate the economic hedging of the loans. The FVO is applied on an instrument by instrument basis and is an irrevocable election. Additionally, with the election of the FVO, fees and costs associated with the origination and acquisition of residential mortgage loans are expensed as incurred, rather than deferred. Changes in fair value under the FVO are recorded in mortgage banking operations income on the consolidated statements of income. Fair value is determined on the basis of rates obtained in the respective secondary market for the type of loan held for sale. Prior to the FVO election, loans were generally sold at a premium or discount from the carrying amount of the loan which represented the lower of cost or fair value. Gain or loss on the sale of loans is recorded in mortgage banking operations non-interest We routinely issue interest rate lock commitments for residential mortgage loans that we intend to sell. These interest rate lock commitments are considered derivatives. We also enter into loan sale commitments to sell these loans when funded to mitigate the risk that the market value of residential mortgage loans may decline between the time the rate commitment is issued to the customer and the time we sell the loan. These loan sale commitments are also derivatives. Both types of derivatives are recorded at fair value on the consolidated balance sheets with changes in fair value recorded in mortgage banking operations income. We also originate loans guaranteed by the Small Business Administration (SBA) for the purchase of businesses, business startups, business expansion, equipment, and working capital. All SBA loans are underwritten and documented as prescribed by the SBA. The portion of SBA loans originated that are guaranteed and intended for sale on the secondary market are classified as held for sale and are carried at the lower of cost or fair value. At the time of the sale, we allocate the carrying value of the entire loan between the guaranteed portion sold and the unguaranteed portion retained based on their relative fair value which results in a discount recorded on the retained portion of the loan. The guaranteed portion is typically sold at a premium and the gain is recognized in other income for any net premium received in excess of the relative fair value of the portion of the loan transferred. The net carrying value of the retained portion of the loans is included in the appropriate loan classification for disclosure purposes, primarily commercial real estate or commercial and industrial. |
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. Premises and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Assets to be disposed of are transferred to other assets and are reported at the lower of the carrying amount or fair value less costs to sell. |
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 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. Prior to 2017, if, after assessing updated quantitative factors, we determined it was not more likely than not that the fair value of a reporting unit is less than its carrying amount, we did not have to perform the two-step Determining the fair value of a reporting unit under the first step of the goodwill impairment test and determining the fair value of individual assets and liabilities of a reporting unit under the second step of the goodwill impairment test are judgmental and often involve the use of significant estimates and assumptions. Similarly, estimates and assumptions are used in determining the fair value of other intangible assets. Estimates of fair value are primarily determined using discounted cash flows, market comparisons and recent transactions. These approaches use significant estimates and assumptions including projected future cash flows, discount rates reflecting the market rate of return, projected growth rates and determination and evaluation of appropriate market comparables. Based on the results of quantitative assessments of all reporting units, we concluded that no impairment existed at December 31, 2016. However, future events could cause us to conclude that goodwill or other intangibles have become impaired, which would result in recording an impairment loss. Any resulting impairment loss could have a material adverse impact on our financial condition and results of operations. Beginning in 2017, as permitted under the early adoption provisions of ASU 2017-04, |
Loan Servicing Rights | Loan Servicing Rights We have two primary classes of servicing rights, residential mortgage loan servicing and SBA-guaranteed SBA-guaranteed We initially record servicing rights at fair value in core deposit and other intangible assets, net on the consolidated balance sheet. Subsequently, servicing rights are measured at the lower of cost or fair value. Servicing rights are amortized in proportion to, and over the period of, estimated net servicing income against servicing income during the period in mortgage banking operations income for residential mortgage loans and other income for SBA-guaranteed Mortgage servicing rights (MSRs) are separated into pools based on common risk characteristics of the underlying loans and evaluated for impairment at least quarterly. SBA-guaranteed SBA-guaranteed |
Bank-Owned Life Insurance | Bank-Owned Life Insurance (BOLI) We have purchased life insurance policies on certain current and former directors, officers and employees for which the Corporation is the owner and beneficiary. These policies are recorded in other assets in the consolidated balance sheet at their cash surrender value, or the amount that could be realized by surrendering the policies. Tax-exempt |
Low Income Housing Tax Credit Partnerships | Low Income Housing Tax Credit Partnerships We invest in various affordable housing projects that qualify for low income housing tax credits (LIHTCs). The investments are recorded in other assets on the consolidated balance sheets. These investments generate a return through the realization of federal tax credits. We use the proportional amortization method to account for a majority of our investments in these entities. LIHTCs that do not meet the requirements of the proportional amortization method are recognized using the equity method. Our net investment in LIHTCs was $14.7 million and $14.0 million at March 31, 2017 and December 31, 2016, respectively. |
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. Beginning in 2017, the assumed proceeds from applying the treasury stock method when computing diluted earnings per share excludes the amount of excess tax benefits that would have been recognized in accumulated paid-in |
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 statements of comprehensive income over the shorter of requisite service periods or the period through the date that the employee first becomes eligible to retire. Some of 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. Beginning in 2017, with the adoption of ASU 2016-09, 2016-09 |
New Accounting Standards | NEW ACCOUNTING STANDARDS The following paragraphs summarize accounting pronouncements issued by the Financial Accounting Standards Board (FASB) that we recently adopted or will be adopting in the future. Securities Accounting Standards Update (ASU or Update) 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Retirement Benefits ASU 2017-07, Compensation—Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, Goodwill ASU 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 2017-05, Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): 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 (Table
Mergers and Acquisitions (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 discussed above: (in thousands) YDKN Fifth Third METR Fair value of consideration paid $ 1,783,366 $ — $ 404,242 Fair value of identifiable assets acquired: Cash and cash equivalents 197,682 198,872 46,890 Securities 940,634 — 722,980 Loans 5,116,497 95,354 1,862,447 Core deposit and other intangible assets 69,555 4,129 24,163 Fixed and other assets 460,752 14,069 127,185 Total identifiable assets acquired 6,785,120 312,424 2,783,665 Fair value of liabilities assumed: Deposits 5,176,758 302,529 2,328,238 Borrowings 969,385 — 227,539 Other liabilities 73,652 24,041 8,700 Total liabilities assumed 6,219,795 326,570 2,564,477 Fair value of net identifiable assets acquired 565,325 (14,146 ) 219,188 Goodwill recognized (1) $ 1,218,041 $ 14,146 $ 185,054 (1) All of the goodwill for these transactions has been recorded in the Community Banking Segment. |
Yadkin Financial Corporation (YDKN) [Member] | |
Business Acquisition Pro Forma Information | The following pro forma financial information for the periods presented reflects our estimated consolidated pro forma results of operations as if the YDKN acquisition occurred on January 1, 2016, unadjusted for potential cost savings and other business synergies we expect to receive as a result of the acquisition: (dollars in thousands, except per share data) FNB YDKN Pro Forma Pro Forma Three Months Ended March 31, 2017 Revenue (net interest income and non-interest $ 206,969 $ 74,574 $ (781 ) $ 280,762 Net income 51,253 22,435 (1,710 ) 71,978 Net income available to common stockholders 49,243 22,435 (1,710 ) 69,968 Earnings per common share – basic 0.23 0.43 — 0.22 Earnings per common share – diluted 0.23 0.43 — 0.22 Three Months Ended March 31, 2016 Revenue (net interest income and non-interest 186,398 74,709 (1,323 ) 259,784 Net income 26,132 15,447 (1,966 ) 39,613 Net income available to common stockholders 24,122 15,447 (1,966 ) 37,603 Earnings per common share – basic 0.12 0.30 — 0.12 Earnings per common share – diluted 0.12 0.30 — 0.12 |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Amortized Cost and Fair Value of Securities Available for Sale | The amortized cost and fair value of securities are as follows: (in thousands) Amortized Cost Gross Gross Fair Value Securities Available for Sale (AFS): March 31, 2017 U.S. Treasury $ 29,908 $ 37 $ — $ 29,945 U.S. government-sponsored entities 397,634 676 (3,104 ) 395,206 Residential mortgage-backed securities: Agency mortgage-backed securities 1,650,743 3,024 (10,753 ) 1,643,014 Agency collateralized mortgage obligations 514,232 347 (10,616 ) 503,963 Non-agency 2 — — 2 Commercial mortgage-backed securities 420 — (1 ) 419 States of the U.S. and political subdivisions 34,763 69 (154 ) 34,678 Other debt securities 21,899 68 (373 ) 21,594 Total debt securities 2,649,601 4,221 (25,001 ) 2,628,821 Equity securities 9,479 612 (97 ) 9,994 Total securities available for sale $ 2,659,080 $ 4,833 $ (25,098 ) $ 2,638,815 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 |
Schedule of Amortized Cost and Fair Value of Securities Held to Maturity | Securities Held to Maturity (HTM): March 31, 2017 U.S. Treasury $ 500 $ 139 $ — $ 639 U.S. government-sponsored entities 247,580 395 (4,255 ) 243,720 Residential mortgage-backed securities: Agency mortgage-backed securities 1,243,947 7,382 (6,795 ) 1,244,534 Agency collateralized mortgage obligations 798,506 841 (17,003 ) 782,344 Commercial mortgage-backed securities 81,750 508 (302 ) 81,956 States of the U.S. and political subdivisions 549,869 2,686 (18,851 ) 533,704 Total securities held to maturity $ 2,922,152 $ 11,951 $ (47,206 ) $ 2,886,897 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 |
Gross Gains and Gross Losses Realized on Sales of Securities | Gross gains and gross losses were realized on securities as follows: Three Months Ended March 31, (in thousands) 2017 2016 Gross gains $ 3,400 $ 71 Gross losses (775 ) — Net gains $ 2,625 $ 71 |
Amortized Cost and Fair Value of Securities, by Contractual Maturities | As of March 31, 2017, the amortized cost and fair value of securities, by contractual maturities, were as follows: Available for Sale Held to Maturity (in thousands) Amortized Fair Value Amortized Fair Value Due in one year or less $ 119,899 $ 120,041 $ 390 $ 396 Due from one to five years 330,197 327,741 253,707 249,830 Due from five to ten years 31,143 30,918 68,397 68,666 Due after ten years 2,965 2,723 475,455 459,171 484,204 481,423 797,949 778,063 Residential mortgage-backed securities: Agency mortgage-backed securities 1,650,743 1,643,014 1,243,947 1,244,534 Agency collateralized mortgage obligations 514,232 503,963 798,506 782,344 Non-agency 2 2 — — Commercial mortgage-backed securities 420 419 81,750 81,956 Equity securities 9,479 9,994 — — Total securities $ 2,659,080 $ 2,638,815 $ 2,922,152 $ 2,886,897 |
Schedule of Securities Pledged as Collateral | Following is information relating to securities pledged: March 31, December 31, (dollars in thousands) 2017 2016 Securities pledged (carrying value): To secure public deposits, trust deposits and for other purposes as required by law $ 3,145,072 $ 2,779,335 As collateral for short-term borrowings 323,658 322,038 Securities pledged as a percent of total securities 62.4 % 67.9 % |
Summaries of Fair Values and Unrealized Losses of Impaired Securities, Segregated by Length of Impairment | Following are summaries of the fair values and unrealized losses of impaired securities, segregated by length of impairment: Less than 12 Months 12 Months or More Total (dollars in thousands) # Fair Value Unrealized # Fair Value Unrealized # Fair Value Unrealized Securities Available for Sale March 31, 2017 U.S. government-sponsored entities 13 $ 246,881 $ (3,104 ) — $ — $ — 13 $ 246,881 $ (3,104 ) Residential mortgage-backed securities: Agency mortgage-backed securities 56 1,176,464 (10,753 ) — — — 56 1,176,464 (10,753 ) Agency collateralized mortgage obligations 29 364,095 (6,990 ) 9 84,869 (3,626 ) 38 448,964 (10,616 ) Commercial mortgage-backed securities 1 419 (1 ) — — — 1 419 (1 ) States of the U.S. and political subdivisions 11 17,762 (72 ) 5 5,834 (82 ) 16 23,596 (154 ) Other debt securities — — — 3 4,534 (373 ) 3 4,534 (373 ) Equity securities 5 703 (97 ) — — — 5 703 (97 ) Total temporarily impaired securities AFS 115 $ 1,806,324 $ (21,017 ) 17 $ 95,237 $ (4,081 ) 132 $ 1,901,561 $ (25,098 ) 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 ) Securities Held to Maturity March 31, 2017 U.S. government-sponsored entities 11 $ 200,745 $ (4,255 ) — $ — $ — 11 $ 200,745 $ (4,255 ) Residential mortgage-backed securities: Agency mortgage-backed securities 38 695,915 (6,795 ) — — — 38 695,915 (6,795 ) Agency collateralized mortgage obligations 29 498,743 (13,236 ) 12 107,546 (3,767 ) 41 606,289 (17,003 ) Commercial mortgage-backed securities 3 14,875 (67 ) 1 7,684 (235 ) 4 22,559 (302 ) States of the U.S. and political subdivisions 103 279,356 (18,851 ) — — — 103 279,356 (18,851 ) Total temporarily impaired securities HTM 184 $ 1,689,634 $ (43,204 ) 13 $ 115,230 $ (4,002 ) 197 $ 1,804,864 $ (47,206 ) 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 ) |
Loans and Leases (Tables)
Loans and Leases (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Summary of Loans and Leases, Net of Unearned Income | Following is a summary of loans and leases, net of unearned income: (in thousands) Originated Loans and Leases Acquired Loans Total Loans and March 31, 2017 Commercial real estate $ 4,262,270 $ 4,506,087 $ 8,768,357 Commercial and industrial 2,857,584 935,095 3,792,679 Commercial leases 197,071 — 197,071 Total commercial loans and leases 7,316,925 5,441,182 12,758,107 Direct installment 1,758,895 206,223 1,965,118 Residential mortgages 1,551,928 790,239 2,342,167 Indirect installment 1,259,770 177 1,259,947 Consumer lines of credit 1,100,695 705,301 1,805,996 Other 46,315 — 46,315 Total loans and leases, net of unearned income $ 13,034,528 $ 7,143,122 $ 20,177,650 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 |
Certain Information Relating to Regency Consumer Finance Loans | The following table shows certain information relating to the Regency consumer finance loans: March 31, December 31, (dollars in thousands) 2017 2016 Regency consumer finance loans $ 173,786 $ 184,687 Percent of total loans and leases 0.9 % 1.2 % |
Certain Information Relating to Commercial Real Estate Loans | The following table shows certain information relating to commercial real estate loans: March 31, December 31, (dollars in thousands) 2017 2016 Commercial construction loans $ 1,050,129 $ 459,995 Percent of total loans and leases 5.2 % 3.1 % Commercial real estate: Percent owner-occupied 37.4 % 36.2 % Percent non-owner-occupied 62.6 % 63.8 % |
Summary of Outstanding Principal Balance and Carrying Amount of Acquired Loans | The outstanding balance and the carrying amount of acquired loans included in the consolidated balance sheets are as follows: (in thousands) March 31, 2017 December 31, Accounted for under ASC 310-30: Outstanding balance $ 7,205,696 $ 2,346,687 Carrying amount 6,644,633 2,015,904 Accounted for under ASC 310-20: Outstanding balance 502,001 342,015 Carrying amount 491,921 325,784 Total acquired loans: Outstanding balance 7,707,697 2,688,702 Carrying amount 7,136,554 2,341,688 |
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 Three Months Ended March 31, (in thousands) 2017 2016 Balance at beginning of period $ 467,070 $ 256,120 Acquisitions 443,261 284,092 Reduction due to unexpected early payoffs (20,560 ) (9,375 ) Reclass from non-accretable 23,106 10,494 Disposals/transfers (36 ) (260 ) Accretion (25,241 ) (13,204 ) Balance at end of period $ 887,600 $ 527,867 |
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 $ 48,941 $ 5,084,475 $ 5,133,416 Non-accretable (25,673 ) (406,802 ) (432,475 ) Cash flows expected to be collected at acquisition 23,268 4,677,673 4,700,941 Accretable yield (3,323 ) (439,938 ) (443,261 ) Fair value of acquired loans at acquisition $ 19,945 $ 4,237,735 $ 4,257,680 |
Summary of Non-Performing Assets | Following is a summary of non-performing (dollars in thousands) March 31, 2017 December 31, Non-accrual $ 81,390 $ 65,479 Troubled debt restructurings 23,988 20,428 Total non-performing 105,378 85,907 Other real estate owned (OREO) 50,088 32,490 Total non-performing $ 155,466 $ 118,397 Asset quality ratios: Non-performing 0.52 % 0.58 % Non-performing 0.77 % 0.79 % Non-performing 0.51 % 0.54 % |
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 Non- Accrual Total Past Due Current Total Loans and Originated Loans and Leases March 31, 2017 Commercial real estate $ 5,923 $ 1 $ 23,040 $ 28,964 $ 4,233,306 $ 4,262,270 Commercial and industrial 5,007 3 34,826 39,836 2,817,748 2,857,584 Commercial leases 1,039 — 2,017 3,056 194,015 197,071 Total commercial loans and leases 11,969 4 59,883 71,856 7,245,069 7,316,925 Direct installment 7,973 4,092 7,675 19,740 1,739,155 1,758,895 Residential mortgages 9,797 1,966 4,466 16,229 1,535,699 1,551,928 Indirect installment 5,678 374 1,488 7,540 1,252,230 1,259,770 Consumer lines of credit 2,739 375 1,782 4,896 1,095,799 1,100,695 Other 242 121 1,000 1,363 44,952 46,315 Total originated loans and leases $ 38,398 $ 6,932 $ 76,294 $ 121,624 $ 12,912,904 $ 13,034,528 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 (in thousands) 30-89 Days Past Due ³ 90 Days and Still Non- Accrual Total Past Due (1) (2) Current Discount Total Loans Acquired Loans March 31, 2017 Commercial real estate $ 41,450 $ 39,243 $ 1,414 $ 82,107 $ 4,630,159 $ (206,179 ) $ 4,506,087 Commercial and industrial 7,587 7,736 2,854 18,177 977,012 (60,094 ) 935,095 Total commercial loans 49,037 46,979 4,268 100,284 5,607,171 (266,273 ) 5,441,182 Direct installment 5,669 2,183 81 7,933 196,563 1,727 206,223 Residential mortgages 19,069 14,075 — 33,144 800,460 (43,365 ) 790,239 Indirect installment — 2 — 2 75 100 177 Consumer lines of credit 11,395 5,974 747 18,116 703,422 (16,237 ) 705,301 Total acquired loans $ 85,170 $ 69,213 $ 5,096 $ 159,479 $ 7,307,691 $ (324,048 ) $ 7,143,122 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 (1) Past due information for acquired loans is based on the contractual balance outstanding at March 31, 2017 and December 31, 2016. (2) Acquired loans are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, as long as 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 and leases by credit quality category, segregated by loans and leases originated and loans acquired: Commercial Loan and Lease Credit Quality Categories (in thousands) Pass Special Substandard Doubtful Total Originated Loans and Leases March 31, 2017 Commercial real estate $ 4,068,403 $ 132,700 $ 60,958 $ 209 $ 4,262,270 Commercial and industrial 2,616,144 122,892 109,515 9,033 2,857,584 Commercial leases 190,641 3,711 2,719 — 197,071 Total originated commercial loans and leases $ 6,875,188 $ 259,303 $ 173,192 $ 9,242 $ 7,316,925 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 Acquired Loans March 31, 2017 Commercial real estate $ 3,699,904 $ 531,316 $ 274,506 $ 361 $ 4,506,087 Commercial and industrial 786,808 77,961 70,171 155 935,095 Total acquired commercial loans $ 4,486,712 $ 609,277 $ 344,677 $ 516 $ 5,441,182 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 |
Summary of Consumer Loans by Payment Status | Following is a table showing consumer loans by payment status: Consumer Loan Credit Quality by Payment Status (in thousands) Performing Non- Performing Total Originated loans March 31, 2017 Direct installment $ 1,742,702 $ 16,193 $ 1,758,895 Residential mortgages 1,537,779 14,149 1,551,928 Indirect installment 1,258,084 1,686 1,259,770 Consumer lines of credit 1,097,781 2,914 1,100,695 Total originated consumer loans $ 5,636,346 $ 34,942 $ 5,671,288 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 Acquired loans March 31, 2017 Direct installment $ 206,138 $ 85 $ 206,223 Residential mortgages 788,656 1,583 790,239 Indirect installment 177 — 177 Consumer lines of credit 703,972 1,329 705,301 Total acquired consumer loans $ 1,698,943 $ 2,997 $ 1,701,940 December 31, 2016 Direct installment $ 79,142 $ — $ 79,142 Residential mortgages 397,798 — 397,798 Indirect installment 203 — 203 Consumer lines of credit 201,061 512 201,573 Total acquired consumer loans $ 678,204 $ 512 $ 678,716 |
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 Contractual Principal Balance Recorded Investment With No Specific Reserve Recorded Investment Specific Reserve Total Recorded Investment Specific Reserve Average Recorded Investment At or for the Three Months Ended March 31, 2017 Commercial real estate $ 27,470 $ 21,266 $ 1,795 $ 23,061 $ 209 $ 21,612 Commercial and industrial 36,889 12,055 22,299 34,354 9,038 29,065 Commercial leases 2,017 2,017 — 2,017 — 2,723 Total commercial loans and leases 66,376 35,338 24,094 59,432 9,247 53,400 Direct installment 18,062 16,193 — 16,193 — 15,572 Residential mortgages 15,151 14,149 — 14,149 — 13,758 Indirect installment 4,168 1,686 — 1,686 — 1,933 Consumer lines of credit 3,831 2,914 — 2,914 — 2,950 Other 1,000 1,000 — 1,000 — 1,000 Total $ 108,588 $ 71,280 $ 24,094 $ 95,374 $ 9,247 $ 88,613 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 |
Additional Allowance for Credit Losses Relating to Acquired Loans | The above tables do not reflect the additional allowance for credit losses relating to acquired loans in the following pools and categories: (in thousands) March 31, 2017 December 31, 2016 Commercial real estate $ 3,734 $ 4,538 Commercial and industrial 127 500 Total commercial loans 3,861 5,038 Direct installment 994 1,005 Residential mortgages 795 632 Indirect installment 221 221 Consumer lines of credit 697 372 Total allowance on acquired loans $ 6,568 $ 7,268 |
Summary of Payment Status of TDRs | Following is a summary of the payment status of TDRs: (in thousands) Originated Acquired Total March 31, 2017 Accruing: Performing $ 17,552 $ 272 $ 17,824 Non-performing 19,659 4,329 23,988 Non-accrual 8,862 562 9,424 Total TDRs $ 46,073 $ 5,163 $ 51,236 December 31, 2016 Accruing: Performing $ 17,105 $ 365 $ 17,470 Non-performing 20,252 176 20,428 Non-accrual 9,035 — 9,035 Total TDRs $ 46,392 $ 541 $ 46,933 |
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: (in thousands) March 31, 2017 December 31, Specific reserves for commercial TDRs $ 253 $ 291 Pooled reserves for individual loans under $500 234 276 |
Summary of Troubled Debt Restructurings by Class of Loans | The majority of TDRs are the result of interest rate concessions for a limited period of time. Following is a summary of loans, by class, that have been restructured: Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 (dollars in thousands) Number of Contracts Pre- Modification Recorded Investment Post- Outstanding Recorded Investment Number of Contracts Pre- Modification Recorded Investment Post- Outstanding Recorded Investment Commercial real estate 1 $ 114 $ 109 4 $ 778 $ 760 Commercial and industrial — — — 2 5,565 3,279 Total commercial loans 1 114 109 6 6,343 4,039 Direct installment 171 1,488 1,412 145 1,991 1,961 Residential mortgages 8 163 176 18 968 951 Indirect installment 5 17 14 3 11 12 Consumer lines of credit 22 742 729 20 243 238 Total 207 $ 2,524 $ 2,440 192 $ 9,556 $ 7,201 |
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 Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial real estate — $ — — $ — Commercial and industrial — — — — Total commercial loans — — — — Direct installment 29 82 28 175 Residential mortgages 2 224 1 50 Indirect installment 6 10 4 5 Consumer lines of credit 1 34 1 10 Total 38 $ 350 34 $ 240 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Summary of Changes in Allowance for Credit Losses by Loan and Lease Class | Following is a summary of changes in the allowance for credit losses, by loan and lease class: (in thousands) Balance at Beginning of Charge- Recoveries Net Charge- Provision Balance at End of Three Months Ended March 31, 2017 Commercial real estate $ 46,635 $ (988 ) $ 361 $ (627 ) $ 381 $ 46,389 Commercial and industrial 47,991 (2,463 ) 474 (1,989 ) 7,568 53,570 Commercial leases 3,280 (506 ) 1 (505 ) 738 3,513 Total commercial loans and leases 97,906 (3,957 ) 836 (3,121 ) 8,687 103,472 Direct installment 21,391 (2,874 ) 628 (2,246 ) 1,065 20,210 Residential mortgages 10,082 (180 ) 161 (19 ) 147 10,210 Indirect installment 10,564 (2,370 ) 781 (1,589 ) 655 9,630 Consumer lines of credit 9,456 (458 ) 165 (293 ) (280 ) 8,883 Other 1,392 (973 ) 327 (646 ) 1,063 1,809 Total allowance on originated loans and leases 150,791 (10,812 ) 2,898 (7,914 ) 11,337 154,214 Purchased credit-impaired loans 572 — — — 88 660 Other acquired loans 6,696 (482 ) 269 (213 ) (575 ) 5,908 Total allowance on acquired loans 7,268 (482 ) 269 (213 ) (487 ) 6,568 Total allowance $ 158,059 $ (11,294 ) $ 3,167 $ (8,127 ) $ 10,850 $ 160,782 Three Months Ended March 31, 2016 Commercial real estate $ 41,741 $ (1,369 ) $ 597 $ (772 ) $ 2,929 $ 43,898 Commercial and industrial 41,023 (298 ) 190 (108 ) 6,948 47,863 Commercial leases 2,541 (114 ) 14 (100 ) 377 2,818 Total commercial loans and leases 85,305 (1,781 ) 801 (980 ) 10,254 94,579 Direct installment 21,587 (2,667 ) 454 (2,213 ) 1,351 20,725 Residential mortgages 7,909 (85 ) 19 (66 ) (33 ) 7,810 Indirect installment 9,889 (1,942 ) 262 (1,680 ) 856 9,065 Consumer lines of credit 9,582 (474 ) 56 (418 ) (197 ) 8,967 Other 1,013 (554 ) 6 (548 ) 609 1,074 Total allowance on originated loans and leases 135,285 (7,503 ) 1,598 (5,905 ) 12,840 142,220 Purchased credit-impaired loans 834 (160 ) — (160 ) 30 704 Other acquired loans 5,893 (221 ) 306 85 (1,102 ) 4,876 Total allowance on acquired loans 6,727 (381 ) 306 (75 ) (1,072 ) 5,580 Total allowance $ 142,012 $ (7,884 ) $ 1,904 $ (5,980 ) $ 11,768 $ 147,800 |
Summary of Individual and Collective Allowance for Credit Losses and Loan and Lease Balances by Class | Following is a summary of the individual and collective originated allowance for credit losses and corresponding loan and lease balances by class: Originated Allowance Originated Loans and Leases Outstanding (in thousands) Individually Evaluated for Impairment Collectively Evaluated for Impairment Loans and Individually Evaluated for Impairment Collectively Evaluated for Impairment March 31, 2017 Commercial real estate $ 209 $ 46,180 $ 4,262,270 $ 14,989 $ 4,247,281 Commercial and industrial 9,038 44,532 2,857,584 32,157 2,825,427 Commercial leases — 3,513 197,071 — 197,071 Total commercial loans and leases 9,247 94,225 7,316,925 47,146 7,269,779 Direct installment — 20,210 1,758,895 — 1,758,895 Residential mortgages — 10,210 1,551,928 — 1,551,928 Indirect installment — 9,630 1,259,770 — 1,259,770 Consumer lines of credit — 8,883 1,100,695 — 1,100,695 Other — 1,809 46,315 — 46,315 Total $ 9,247 $ 144,967 $ 13,034,528 $ 47,146 $ 12,987,382 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 |
Loan Servicing (Tables)
Loan Servicing (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Summary of the Sensitivity of Fair Value of MSRs to Changes in key Assumptions | Following is a summary of the sensitivity of the fair value of MSRs to changes in key assumptions: (dollars in thousands) March 31, 2017 December 31, Weighted average life (months) 82.2 79.0 Constant prepayment rate (annualized) 9.4 % 9.9 % Discount rate 9.7 % 9.8 % Effect on fair value due to change in interest rates: + 0.25% $ 1,229 $ 692 + 0.50% 2,298 1,288 - 0.25% (1,370 ) (789 ) - 0.50% (2,839 ) (1,680 ) |
Mortgage Servicing Rights [Member] | |
Summary of Mortgage Servicing Rights Activity | Following is a summary of the MSR activity: Three Months Ended March 31, (in thousands) 2017 2016 Balance at beginning of period $ 13,521 $ 8,921 Fair value of MSRs acquired 8,553 — Additions 1,454 884 Payoffs and curtailments (139 ) (98 ) Amortization (523 ) (467 ) Balance at end of period $ 22,866 $ 9,240 Fair value, beginning of period $ 17,546 $ 11,503 Fair value, end of period 26,962 11,538 |
SBA-Guaranteed Loan Servicing [Member] | |
Summary of Mortgage Servicing Rights Activity | Following is a summary of the activity in SBA servicing assets: Three Months ended March 31, 2017 (in thousands) Balance at beginning of period $ — Fair value of servicing rights acquired 5,399 Additions — Amortization (60 ) Balance at end of period $ 5,339 |
Borrowings (Tables)
Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
Summary of Short-Term Borrowings | Following is a summary of short-term borrowings: (in thousands) March 31, 2017 December 31, Securities sold under repurchase agreements $ 310,751 $ 313,062 Federal Home Loan Bank advances 1,960,000 1,025,000 Federal funds purchased 1,185,000 1,037,000 Subordinated notes 130,212 127,948 Total short-term borrowings $ 3,585,963 $ 2,503,010 |
Summary of Long-Term Borrowings | Following is a summary of long-term borrowings: (in thousands) March 31, 2017 December 31, Federal Home Loan Bank advances $ 330,098 $ 305,110 Subordinated notes 87,558 87,147 Junior subordinated debt 109,987 48,600 Other subordinated debt 168,563 98,637 Total long-term borrowings $ 696,206 $ 539,494 |
Junior Subordinated Debt Trusts | The following table provides information relating to the Trusts as of March 31, 2017: (dollars in thousands) Trust Preferred Securities Common Securities Junior Subordinated Debt Stated Maturity Date Interest Rate and Rate Reset Factor F.N.B. Statutory Trust II $ 21,500 $ 665 $ 22,165 6/15/36 2.78 % LIBOR + 165 basis points (bps) Omega Financial Capital Trust I 26,000 1,114 26,445 10/18/34 3.21 % LIBOR + 219 bps Yadkin Valley Statutory Trust I 25,000 774 20,677 12/15/37 2.45 % LIBOR + 132 bps FNB Financial Services Capital Trust I 25,000 774 21,635 9/30/35 2.59 % LIBOR + 146 bps American Community Capital Trust II 10,000 310 10,455 12/15/33 3.80 % LIBOR + 280 bps Crescent Financial Capital Trust I 8,000 248 8,610 10/07/33 4.12 % LIBOR + 310 bps Total $ 115,500 $ 3,885 $ 109,987 |
Derivative Instruments and He34
Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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: March 31, 2017 December 31, 2016 Notional Fair Value Notional Fair Value (in thousands) Amount Asset Liability Amount Asset Liability Gross Derivatives Subject to master netting arrangements: Interest rate contracts – designated $ 655,000 $ 603 $ 1,494 $ 450,000 $ 9,256 $ 1,171 Interest rate swaps – not designated 1,825,706 792 13,966 1,689,157 12,720 34,046 Equity contracts – not designated 1,180 46 — 1,180 61 — Total subject to master netting arrangements 2,481,886 1,441 15,460 2,140,337 22,037 35,217 Not subject to master netting arrangements: Interest rate swaps – not designated 1,825,706 30,263 13,820 1,689,157 32,170 11,866 Interest rate lock commitments – not designated 76,087 1,252 26 — — — Forward delivery commitments – not designated 85,065 20 376 — — — Credit risk contracts – not designated 186,037 15 106 174,538 13 123 Equity contracts – not designated 1,180 — 46 1,180 — 61 Total not subject to master netting arrangements 2,174,075 31,550 14,374 1,864,875 32,183 12,050 Total $ 4,655,961 $ 32,991 $ 29,834 $ 4,005,212 $ 54,220 $ 47,267 |
Summary of Amounts Reclassified from Accumulated Other Comprehensive Income (AOCI) | The following table shows amounts reclassified from accumulated other comprehensive income (AOCI) for the three months ended March 31, 2017: (in thousands) Total Net of Tax Reclassified from AOCI to interest income $ 506 $ 329 Reclassified from AOCI to interest expense 148 96 |
Derivative Assets | The following table presents information about derivative assets and derivative liabilities that are subject to enforceable master netting arrangements as well as those not subject to enforceable master netting arrangements: (in thousands) Gross Amount Gross Offset in the Net Amount March 31, 2017 Derivative Assets Subject to master netting arrangements: Interest rate contracts Designated $ 603 — $ 603 Not designated 792 — 792 Equity contracts – not designated 46 — 46 Not subject to master netting arrangements: Interest rate contracts – not designated 30,263 — 30,263 Interest rate lock commitments – not designated 1,252 — 1,252 Forward delivery commitments – not designated 20 — 20 Credit risk contracts – not designated 15 — 15 Total derivative assets $ 32,991 — $ 32,991 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 | The following table presents information about derivative assets and derivative liabilities that are subject to enforceable master netting arrangements as well as those not subject to enforceable master netting arrangements: (in thousands) Gross Amount Gross Offset in the Net Amount March 31, 2017 Derivative Liabilities Subject to master netting arrangements: Interest rate contracts Designated $ 1,494 — $ 1,494 Not designated 13,966 — 13,966 Not subject to master netting arrangements: Interest rate contracts – not designated 13,820 — 13,820 Interest rate lock commitments – not designated 26 — 26 Forward delivery commitments – not designated 376 — 376 Credit risk contracts – not designated 106 — 106 Equity contracts – not designated 46 — 46 Total derivative liabilities $ 29,834 — $ 29,834 Gross Amount Gross Amounts Offset in the Sheet Net Amount Presented in the Balance 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 |
Effect of Derivative Financial Instruments on Income Statement | The following table presents the effect of certain derivative financial instruments on the income statement: Three Months Ended March 31, (in thousands) Income Statement Location 2017 2016 Interest Rate Contracts Interest income - loans and leases $ 506 $ 687 Interest Rate Contracts Interest expense – short-term borrowings 148 150 Interest Rate Swaps Other income (219 ) (41 ) Credit Risk Contracts Other income 19 (71 ) |
Interest Rate Contracts [Member] | |
Summary of Key Data Related to Interest Rate | Following is a summary of key data related to interest rate contracts: (in thousands) March 31, 2017 December 31, Notional amount $ 655,000 $ 450,000 Fair value included in other assets 603 9,256 Fair value included in other liabilities 1,494 1,171 |
Interest Rate Swap [Member] | |
Summary of Key Data Related to Interest Rate | Following is a summary of key data related to interest rate swaps: (in thousands) March 31, 2017 December 31, Notional amount $ 3,651,412 $ 3,378,314 Fair value included in other assets 31,055 44,890 Fair value included in other liabilities 27,786 45,912 |
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 (in thousands) Net Amount the Balance Sheet Financial Cash Net Amount March 31, 2017 Derivative Assets Interest rate contracts: Designated $ 603 $ 603 — $ — Not designated 792 680 — 112 Equity contracts – not designated 46 46 — — Total $ 1,441 $ 1,329 — $ 112 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 | 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 March 31, 2017 Derivative Liabilities Interest rate contracts: Designated $ 1,494 $ 1,494 — $ — Not designated 13,966 13,208 — 758 Total $ 15,460 $ 14,702 — $ 758 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 |
Commitments, Credit Risk and 35
Commitments, Credit Risk and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Off-Balance Sheet Credit Risk Information | Following is a summary of off-balance (in thousands) March 31, 2017 December 31, 2016 Commitments to extend credit $ 6,278,542 $ 4,424,834 Standby letters of credit 135,120 117,732 |
Stock Incentive Plans (Tables)
Stock Incentive Plans (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Activity Relating to Restricted Stock Awards | The following table summarizes the activity relating to restricted stock awards during the periods indicated: Three Months Ended March 31, 2017 2016 Awards Weighted Average Grant Awards Weighted Average Grant Unvested awards outstanding at beginning of period 1,836,363 $ 12.97 1,548,444 $ 12.85 Vested (243,982 ) 11.83 (363,799 ) 12.07 Forfeited (2,950 ) 13.00 (6,368 ) 12.79 Dividend reinvestment 12,253 14.54 10,870 11.50 Unvested awards outstanding at end of period 1,601,684 13.16 1,189,147 13.08 |
Schedule of Certain Information Related to Restricted Stock Awards | The following table provides certain information related to restricted stock awards: (in thousands) Three Months Ended March 31, 2017 2016 Stock-based compensation expense $ 1,760 $ 1,136 Tax benefit related to stock-based compensation expense 616 398 Fair value of awards vested 3,802 4,424 |
Components of Restricted Stock Awards | The components of the restricted stock awards as of March 31, 2017 are as follows: (dollars in thousands) Service- Awards Performance- Based Awards Total Unvested restricted stock awards 830,140 771,544 1,601,684 Unrecognized compensation expense $ 3,784 $ 4,494 $ 8,278 Intrinsic value $ 12,344 $ 11,473 $ 23,817 Weighted average remaining life (in years) 1.72 1.77 1.75 |
Summary of Activity Relating to Stock Options Awards | The following table summarizes the activity relating to stock options during the periods indicated: Three Months Ended March 31, 2017 2016 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options outstanding at beginning of period 892,532 $ 8.95 435,340 $ 8.86 Assumed from acquisitions 207,645 8.92 1,707,036 7.83 Exercised (131,792 ) 9.44 (24,806 ) 6.38 Forfeited (49,281 ) 10.91 (92,650 ) 6.69 Options outstanding and exercisable at end of period 919,104 8.77 2,024,920 8.12 |
Retirement Plans (Tables)
Retirement Plans (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Contribution Expense | Our contribution expense is presented in the following table: Three Months Ended March 31, (in thousands) 2017 2016 401(k) contribution expense $ 2,767 $ 2,462 |
Net Periodic Benefit Credit for Defined Benefit Plans | The net periodic benefit credit for these plans includes the following components: Three Months Ended March 31, (in thousands) 2017 2016 Service cost $ (4 ) $ (4 ) Interest cost 1,477 1,544 Expected return on plan assets (2,427 ) (2,353 ) Amortization: Unrecognized prior service cost 2 2 Unrecognized loss 628 608 Net periodic pension credit $ (324 ) $ (203 ) |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 Net Gains Derivative Instruments Unrecognized Postretirement Obligations Total Three Months Ended March 31, 2017 Balance at beginning of period $ (18,222 ) $ 5,254 $ (48,401 ) $ (61,369 ) Other comprehensive income before reclassifications 6,032 (1,022 ) 410 5,420 Amounts reclassified from AOCI (787 ) (233 ) — (1,020 ) Net current period other comprehensive income 5,245 (1,255 ) 410 4,400 Balance at end of period $ (12,977 ) $ 3,999 $ (47,991 ) $ (56,969 ) |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Common Share | The following table sets forth the computation of basic and diluted earnings per common share: Three Months Ended March 31, ( 2017 2016 Net income $ 22,979 $ 26,132 Less: Preferred stock dividends 2,010 2,010 Net income available to common stockholders $ 20,969 $ 24,122 Basic weighted average common shares outstanding 237,379,260 193,585,702 Net effect of dilutive stock options, warrants and restricted stock 1,875,389 1,292,220 Diluted weighted average common shares outstanding 239,254,649 194,877,922 Earnings per common share: Basic $ 0.09 $ 0.12 Diluted $ 0.09 $ 0.12 |
Schedule of Average Shares Excluded from Diluted Earnings Per Common Share Calculation | The following table shows the average shares excluded from the above calculation as their effect would have been anti-dilutive: Three Months Ended March 31, 2017 2016 Average shares excluded from the diluted earnings per common share calculation 81,755 15,501 |
Cash Flow Information (Tables)
Cash Flow Information (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Supplemental Cash Flow Elements [Abstract] | |
Summary of Supplemental Cash Flow Information | Following is a summary of supplemental cash flow information: Three Months Ended March 31, 2017 2016 (in thousands) Interest paid on deposits and other borrowings $ 18,606 $ 13,794 Income taxes paid — — Transfers of loans to other real estate owned 20,517 8,049 Financing of other real estate owned sold — 62 |
Business Segments (Tables)
Business Segments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 Management Insurance Consumer Parent and Consolidated At or for the Three Months Ended March 31, 2017 Interest income $ 182,358 $ — $ 20 $ 9,902 $ 2,413 $ 194,693 Interest expense 18,865 — — 922 2,154 21,941 Net interest income 163,493 — 20 8,980 259 172,752 Provision for credit losses 8,198 — — 1,786 866 10,850 Non-interest 41,384 9,549 4,325 710 (852 ) 55,116 Non-interest 167,393 7,540 3,315 5,231 978 184,457 Amortization of intangibles 2,982 61 55 — — 3,098 Income tax expense (benefit) 6,148 711 347 1,067 (1,789 ) 6,484 Net income (loss) 20,156 1,237 628 1,606 (648 ) 22,979 Total assets 30,007,404 22,130 20,514 184,006 (43,359 ) 30,190,695 Total intangibles 2,360,557 10,353 12,285 1,809 — 2,385,004 At or for the Three Months Ended March 31, 2016 Interest income $ 143,978 $ — $ 22 $ 9,785 $ 1,969 $ 155,754 Interest expense 12,594 — — 941 1,865 15,400 Net interest income 131,384 — 22 8,844 104 140,354 Provision for credit losses 9,917 — — 1,526 325 11,768 Non-interest 31,233 8,816 4,194 716 1,085 46,044 Non-interest 118,048 7,089 3,301 5,204 357 133,999 Amortization of intangibles 2,441 65 143 — — 2,649 Income tax expense (benefit) 10,117 605 275 1,112 (259 ) 11,850 Net income 22,094 1,057 497 1,718 766 26,132 Total assets 20,151,815 20,540 21,680 188,547 (58,058 ) 20,324,524 Total intangibles 1,062,079 10,383 12,779 1,809 — 1,087,050 (1) Excludes amortization of intangibles, which is presented separately. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 Assets Measured at Fair Value Debt securities available for sale: U.S. Treasury $ — $ 29,945 $ — $ 29,945 U.S. government-sponsored entities — 395,206 — 395,206 Residential mortgage-backed securities: Agency mortgage-backed securities — 1,643,014 — 1,643,014 Agency collateralized mortgage obligations — 503,963 — 503,963 Non-agency — 2 — 2 Commercial mortgage-backed securities — 419 — 419 States of the U.S. and political subdivisions — 34,678 — 34,678 Other debt securities — 9,547 12,047 21,594 Total debt securities available for sale — 2,616,774 12,047 2,628,821 Equity securities available for sale: Fixed income mutual fund 3,723 5,353 — 9,076 Financial services industry — 760 — 760 Insurance services industry 158 — — 158 Total equity securities available for sale 3,881 6,113 — 9,994 Total securities available for sale 3,881 2,622,887 12,047 2,638,815 Loans held for sale — 11,121 — 11,121 Derivative financial instruments: Trading — 31,101 — 31,101 Not for trading — 638 1,252 1,890 Total derivative financial instruments — 31,739 1,252 32,991 Total assets measured at fair value on a recurring basis $ 3,881 $ 2,665,747 $ 13,299 $ 2,682,927 Liabilities Measured at Fair Value Derivative financial instruments: Trading — $ 27,832 — $ 27,832 Not for trading — 2,002 — 2,002 Total derivative financial instruments — 29,834 — 29,834 Total liabilities measured at fair value on a recurring basis — $ 29,834 — $ 29,834 (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 |
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) Other Debt Securities Equity Residential Non-Agency Collateralized Mortgage Obligations Interest Rate Lock Commitments Total Three Months Ended March 31, 2017 Balance at beginning of period $ — $ 492 $ 894 $ — $ 1,386 Total gains (losses) – realized/unrealized: Included in earnings — — 4 — 4 Included in other comprehensive income — 86 (6 ) — 80 Accretion included in earnings (1 ) — 1 — — Purchases, issuances, sales and settlements: Purchases 12,048 — — — 12,048 Issuances — — — — — Sales/redemptions — — (874 ) — (874 ) Settlements — — (19 ) — (19 ) Transfers from Level 3 — (578 ) — — (578 ) Transfers into Level 3 — — — 1,252 1,252 Balance at end of period $ 12,047 $ — $ — $ 1,252 $ 13,299 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 |
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 March 31, 2017 Impaired loans — $ 1,812 $ 6,953 $ 8,765 Other real estate owned — 643 1,199 1,842 December 31, 2016 Impaired loans — $ 500 $ 5,883 $ 6,383 Other real estate owned — 11,017 3,181 14,198 |
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 March 31, 2017 Financial Assets Cash and cash equivalents $ 450,383 $ 450,383 $ 450,383 $ — $ — Securities available for sale 2,638,815 2,638,815 3,881 2,622,887 12,047 Securities held to maturity 2,922,152 2,886,897 — 2,886,897 — Net loans and leases (1) 20,092,138 19,823,712 — 11,121 19,812,591 Loan servicing rights 28,205 32,301 — — 32,301 Derivative assets 32,991 32,991 — 31,739 1,252 Accrued interest receivable 77,638 77,638 77,638 — — Financial Liabilities Deposits 21,326,272 21,298,707 17,446,603 3,852,104 — Short-term borrowings 3,585,963 3,586,486 3,586,486 — — Long-term borrowings 696,206 688,209 — — 688,209 Derivative liabilities 29,834 29,834 — 29,834 — Accrued interest payable 10,947 10,947 10,947 — — 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 (1) 14,750,792 14,446,274 — — 14,464,274 Loan servicing rights 13,521 17,546 — — 17,546 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 — — (1) Includes loans held for sale. |
Nature of Operations (Additiona
Nature of Operations (Additional Information) (Detail) | 3 Months Ended |
Mar. 31, 2017StateOffice | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of states, Company operating financial services | State | 8 |
Number of consumer finance offices | 76 |
Number of banking offices | 422 |
Summary of Significant Accoun44
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Summary Of Significant Accounting Policies [Line Items] | ||
Core deposit intangibles amortization period, years | 10 years | |
Net investment in LIHTCs | $ 14.7 | $ 14 |
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) | 3 Months Ended |
Mar. 31, 2017 | |
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) $ / shares in Units, $ in Thousands | Mar. 11, 2017USD ($)$ / sharesshares | Apr. 22, 2016USD ($)Branch | Feb. 13, 2016USD ($)shares | Mar. 31, 2017USD ($)$ / shares | Mar. 31, 2016USD ($) | Dec. 31, 2016USD ($) | ||
Business Acquisition [Line Items] | ||||||||
Goodwill recorded as a result of merger | $ 2,250,305 | $ 1,032,129 | ||||||
Merger-related expenses | $ 52,724 | $ 24,940 | ||||||
Warrant Expires in 2019 [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Warrant issued, exercise price | $ / shares | $ 11.52 | |||||||
Yadkin Financial Corporation (YDKN) [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Assets acquired as a result of merger | $ 6,785,120 | |||||||
Loans acquired as a result of merger | 5,116,497 | |||||||
Deposits acquired as a result of merger | 5,176,758 | |||||||
Value of acquisition | $ 1,783,366 | |||||||
Closing price of common stock | $ / shares | $ 15.97 | |||||||
Common shares issued | shares | 111,619,975 | |||||||
Common shares to be acquired, shares | shares | 51,677,565 | |||||||
Number of shares entitled to receive as per merger agreement, Ratio | 2.16 | |||||||
Goodwill recorded as a result of merger | [1] | $ 1,218,041 | ||||||
Merger-related expenses | $ 52,300 | |||||||
Issuance costs incurred in connection with acquisition | $ 500 | |||||||
Contract termination cost | 30.80% | |||||||
Cash acquired as a result of merger | $ 197,682 | |||||||
Yadkin Financial Corporation (YDKN) [Member] | Warrant Expires in 2019 [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Warrant issued | shares | 207,320 | |||||||
Warrant issued, exercise price | $ / shares | $ 9.63 | |||||||
Yadkin Financial Corporation (YDKN) [Member] | Merger - Related Expenses [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Severance costs | 26.60% | |||||||
Fifth Third Bank Branches [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Assets acquired as a result of merger | $ 312,424 | |||||||
Loans acquired as a result of merger | 95,354 | |||||||
Deposits acquired as a result of merger | 302,529 | |||||||
Goodwill recorded as a result of merger | [1] | 14,146 | ||||||
Core deposit intangibles recorded as result of the acquisition | $ 4,100 | |||||||
Number of branch-banking locations acquired | Branch | 17 | |||||||
Cash acquired as a result of merger | $ 198,872 | |||||||
Fixed and other assets acquired as a result of merger | $ 14,100 | |||||||
Percentage of deposit premium paid | 1.97% | |||||||
Metro Bancorp Inc [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Assets acquired as a result of merger | $ 2,783,665 | |||||||
Loans acquired as a result of merger | 1,862,447 | |||||||
Deposits acquired as a result of merger | 2,328,238 | |||||||
Value of acquisition | $ 404,242 | |||||||
Common shares issued | shares | 34,041,181 | |||||||
Goodwill recorded as a result of merger | $ 1,200,000 | $ 185,054 | [1] | |||||
Core deposit intangibles recorded as result of the acquisition | $ 55,700 | 24,200 | ||||||
Merger-related expenses | $ 400 | $ 31,000 | ||||||
Issuance costs incurred in connection with acquisition | $ 700 | |||||||
Cash acquired as a result of merger | $ 46,890 | |||||||
Common shares acquired | shares | 14,345,319 | |||||||
Metro Bancorp Inc [Member] | Merger - Related Expenses [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Severance costs | 39.90% | |||||||
[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) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Business Acquisition Pro Forma Information [Line Items] | ||
Revenue (net interest income and non-interest income) | $ 280,762 | $ 259,784 |
Net income | 71,978 | 39,613 |
Net income available to common stockholders | $ 69,968 | $ 37,603 |
Earnings per common share - basic | $ 0.22 | $ 0.12 |
Earnings per common share - diluted | $ 0.22 | $ 0.12 |
F.N.B. Corporation [Member] | ||
Business Acquisition Pro Forma Information [Line Items] | ||
Revenue (net interest income and non-interest income) | $ 206,969 | $ 186,398 |
Net income | 51,253 | 26,132 |
Net income available to common stockholders | $ 49,243 | $ 24,122 |
Earnings per common share - basic | $ 0.23 | $ 0.12 |
Earnings per common share - diluted | $ 0.23 | $ 0.12 |
Yadkin Financial Corporation (YDKN) [Member] | ||
Business Acquisition Pro Forma Information [Line Items] | ||
Revenue (net interest income and non-interest income) | $ 74,574 | $ 74,709 |
Net income | 22,435 | 15,447 |
Net income available to common stockholders | $ 22,435 | $ 15,447 |
Earnings per common share - basic | $ 0.43 | $ 0.30 |
Earnings per common share - diluted | $ 0.43 | $ 0.30 |
Proforma Adjustments [Member] | ||
Business Acquisition Pro Forma Information [Line Items] | ||
Revenue (net interest income and non-interest income) | $ (781) | $ (1,323) |
Net income | (1,710) | (1,966) |
Net income available to common stockholders | $ (1,710) | $ (1,966) |
Mergers and Acquisitions - Amou
Mergers and Acquisitions - Amounts Recorded on Consolidated Balance Sheets in Conjunction with Acquisition (Detail) - USD ($) $ in Thousands | Mar. 11, 2017 | Feb. 13, 2016 | Mar. 31, 2017 | Dec. 31, 2016 | Apr. 22, 2016 | ||
Business Acquisition [Line Items] | |||||||
Goodwill recognized | $ 2,250,305 | $ 1,032,129 | |||||
Yadkin Financial Corporation (YDKN) [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Fair value of consideration paid | $ 1,783,366 | ||||||
Cash and cash equivalents | 197,682 | ||||||
Securities | 940,634 | ||||||
Loans | 5,116,497 | ||||||
Core deposit and other intangible assets | 69,555 | ||||||
Fixed and other assets | 460,752 | ||||||
Total identifiable assets acquired | 6,785,120 | ||||||
Deposits | 5,176,758 | ||||||
Borrowings | 969,385 | ||||||
Other liabilities | 73,652 | ||||||
Total liabilities assumed | 6,219,795 | ||||||
Fair value of net identifiable assets acquired | 565,325 | ||||||
Goodwill recognized | [1] | 1,218,041 | |||||
Fifth Third Bank Branches [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Cash and cash equivalents | $ 198,872 | ||||||
Loans | 95,354 | ||||||
Core deposit and other intangible assets | 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 | $ 404,242 | ||||||
Cash and cash equivalents | 46,890 | ||||||
Securities | 722,980 | ||||||
Loans | 1,862,447 | ||||||
Core deposit and other intangible assets | 24,163 | ||||||
Fixed and other assets | 127,185 | ||||||
Total identifiable assets acquired | 2,783,665 | ||||||
Deposits | 2,328,238 | ||||||
Borrowings | 227,539 | ||||||
Other liabilities | 8,700 | ||||||
Total liabilities assumed | 2,564,477 | ||||||
Fair value of net identifiable assets acquired | 219,188 | ||||||
Goodwill recognized | $ 1,200,000 | $ 185,054 | [1] | ||||
[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 | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | $ 2,659,080 | $ 2,260,021 |
Securities Available For Sale, Gross Unrealized Gains | 4,833 | 4,172 |
Securities Available For Sale, Gross Unrealized Losses | (25,098) | (32,206) |
Securities Available For Sale, Fair Value | 2,638,815 | 2,231,987 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 29,908 | 29,874 |
Securities Available For Sale, Gross Unrealized Gains | 37 | 79 |
Securities Available For Sale, Fair Value | 29,945 | 29,953 |
U.S. Government-Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 397,634 | 367,604 |
Securities Available For Sale, Gross Unrealized Gains | 676 | 864 |
Securities Available For Sale, Gross Unrealized Losses | (3,104) | (3,370) |
Securities Available For Sale, Fair Value | 395,206 | 365,098 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 1,650,743 | 1,267,535 |
Securities Available For Sale, Gross Unrealized Gains | 3,024 | 2,257 |
Securities Available For Sale, Gross Unrealized Losses | (10,753) | (16,994) |
Securities Available For Sale, Fair Value | 1,643,014 | 1,252,798 |
Securities Available For Sale, Fair Value | 1,643,014 | |
Agency Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 514,232 | 546,659 |
Securities Available For Sale, Gross Unrealized Gains | 347 | 419 |
Securities Available For Sale, Gross Unrealized Losses | (10,616) | (11,104) |
Securities Available For Sale, Fair Value | 503,963 | 535,974 |
Securities Available For Sale, Fair Value | 503,963 | |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 2 | 891 |
Securities Available For Sale, Gross Unrealized Gains | 6 | |
Securities Available For Sale, Fair Value | 2 | 897 |
Securities Available For Sale, Fair Value | 2 | |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 420 | 1,292 |
Securities Available For Sale, Gross Unrealized Losses | (1) | (1) |
Securities Available For Sale, Fair Value | 419 | 1,291 |
Securities Available For Sale, Fair Value | 419 | |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 34,763 | 36,065 |
Securities Available For Sale, Gross Unrealized Gains | 69 | 86 |
Securities Available For Sale, Gross Unrealized Losses | (154) | (302) |
Securities Available For Sale, Fair Value | 34,678 | 35,849 |
Other Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 21,899 | 9,828 |
Securities Available For Sale, Gross Unrealized Gains | 68 | 94 |
Securities Available For Sale, Gross Unrealized Losses | (373) | (435) |
Securities Available For Sale, Fair Value | 21,594 | 9,487 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 2,649,601 | 2,259,748 |
Securities Available For Sale, Gross Unrealized Gains | 4,221 | 3,805 |
Securities Available For Sale, Gross Unrealized Losses | (25,001) | (32,206) |
Securities Available For Sale, Fair Value | 2,628,821 | 2,231,347 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities Available For Sale, Amortized Cost | 9,479 | 273 |
Securities Available For Sale, Gross Unrealized Gains | 612 | 367 |
Securities Available For Sale, Gross Unrealized Losses | (97) | |
Securities Available For Sale, Fair Value | 9,994 | $ 640 |
Securities Available For Sale, Fair Value | $ 9,994 |
Securities - Schedule of Amor50
Securities - Schedule of Amortized Cost and Fair Value of Securities Held to Maturity (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | $ 2,922,152 | $ 2,337,342 |
Securities Held To Maturity, Gross Unrealized Gains | 11,951 | 8,226 |
Securities Held To Maturity, Gross Unrealized Losses | (47,206) | (50,791) |
Securities held to maturity, fair value | 2,886,897 | 2,294,777 |
U.S. Treasury [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 500 | 500 |
Securities Held To Maturity, Gross Unrealized Gains | 139 | 137 |
Securities held to maturity, fair value | 639 | 637 |
U.S. Government-Sponsored Entities [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 247,580 | 272,645 |
Securities Held To Maturity, Gross Unrealized Gains | 395 | 348 |
Securities Held To Maturity, Gross Unrealized Losses | (4,255) | (4,475) |
Securities held to maturity, fair value | 243,720 | 268,518 |
Agency Mortgage-Backed Securities [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 1,243,947 | 852,215 |
Securities Held To Maturity, Gross Unrealized Gains | 7,382 | 5,654 |
Securities Held To Maturity, Gross Unrealized Losses | (6,795) | (8,645) |
Securities held to maturity, fair value | 1,244,534 | 849,224 |
Agency Collateralized Mortgage Obligations [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 798,506 | 743,148 |
Securities Held To Maturity, Gross Unrealized Gains | 841 | 447 |
Securities Held To Maturity, Gross Unrealized Losses | (17,003) | (17,801) |
Securities held to maturity, fair value | 782,344 | 725,794 |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 1,689 | |
Securities Held To Maturity, Gross Unrealized Gains | 3 | |
Securities Held To Maturity, Gross Unrealized Losses | (6) | |
Securities held to maturity, fair value | 1,686 | |
Commercial Mortgage-Backed Securities [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 81,750 | 49,797 |
Securities Held To Maturity, Gross Unrealized Gains | 508 | 181 |
Securities Held To Maturity, Gross Unrealized Losses | (302) | (226) |
Securities held to maturity, fair value | 81,956 | 49,752 |
States of the U.S. and Political Subdivisions [Member] | ||
Investment Securities Held To Maturity [Line Items] | ||
Securities Held To Maturity, Amortized Cost | 549,869 | 417,348 |
Securities Held To Maturity, Gross Unrealized Gains | 2,686 | 1,456 |
Securities Held To Maturity, Gross Unrealized Losses | (18,851) | (19,638) |
Securities held to maturity, fair value | $ 533,704 | $ 399,166 |
Securities - Gross Gains and Gr
Securities - Gross Gains and Gross Losses Realized on Sales of Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | ||
Gross gains | $ 3,400 | $ 71 |
Gross losses | (775) | |
Net gains | $ 2,625 | $ 71 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities, by Contractual Maturities (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule Of Securities [Line Items] | ||
Available for Sale, Due in one year or less, Amortized Cost | $ 119,899 | |
Available for Sale, Due from one to five years, Amortized Cost | 330,197 | |
Available for Sale, Due from five to ten years, Amortized Cost | 31,143 | |
Available for Sale, Due after ten years, Amortized Cost | 2,965 | |
Available for Sale, with contractual maturities, Amortized Cost | 484,204 | |
Total securities available for sale, Amortized Cost | 2,659,080 | $ 2,260,021 |
Available for Sale, Due in one year or less, Fair Value | 120,041 | |
Available for Sale, Due from one to five years, Fair Value | 327,741 | |
Available for Sale, Due from five to ten years, Fair Value | 30,918 | |
Available for Sale, Due after ten years, Fair Value | 2,723 | |
Available for Sale, with contractual maturities, Fair Value | 481,423 | |
Total securities available for sale, Fair Value | 2,638,815 | 2,231,987 |
Held to Maturity, Due in one year or less, Amortized Cost | 390 | |
Held to Maturity, Due from one to five years, Amortized Cost | 253,707 | |
Held to Maturity, Due from five to ten years, Amortized Cost | 68,397 | |
Held to Maturity, Due after ten years, Amortized Cost | 475,455 | |
Securities Held To Maturity, with contractual maturities, Amortized Cost | 797,949 | |
Held to Maturity, with contractual maturities, Amortized Cost | 2,922,152 | 2,337,342 |
Held to Maturity, Due in one year or less, Fair Value | 396 | |
Held to Maturity, Due from one to five years, Fair Value | 249,830 | |
Held to Maturity, Due from five to ten years, Fair Value | 68,666 | |
Held to Maturity, Due after ten years, Fair Value | 459,171 | |
Securities Held To Maturity, with contractual maturities, Fair Value | 778,063 | |
Held to Maturity, with contractual maturities, Fair Value | 2,886,897 | 2,294,777 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 1,650,743 | 1,267,535 |
Total securities available for sale, Fair Value | 1,643,014 | |
Held to Maturity, with contractual maturities, Amortized Cost | 1,243,947 | 852,215 |
Held to Maturity, with contractual maturities, Fair Value | 1,244,534 | 849,224 |
Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 514,232 | 546,659 |
Total securities available for sale, Fair Value | 503,963 | |
Held to Maturity, with contractual maturities, Amortized Cost | 798,506 | 743,148 |
Held to Maturity, with contractual maturities, Fair Value | 782,344 | 725,794 |
Non-Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 2 | 891 |
Total securities available for sale, Fair Value | 2 | |
Held to Maturity, with contractual maturities, Amortized Cost | 1,689 | |
Held to Maturity, with contractual maturities, Fair Value | 1,686 | |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 420 | 1,292 |
Total securities available for sale, Fair Value | 419 | |
Held to Maturity, with contractual maturities, Amortized Cost | 81,750 | 49,797 |
Held to Maturity, with contractual maturities, Fair Value | 81,956 | 49,752 |
Equity Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Total securities available for sale, Amortized Cost | 9,479 | $ 273 |
Total securities available for sale, Fair Value | $ 9,994 |
Securities - Schedule of Securi
Securities - Schedule of Securities Pledged as Collateral (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
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 | $ 3,145,072 | $ 2,779,335 |
Securities pledged (carrying value), Collateral for short-term borrowings | $ 323,658 | $ 322,038 |
Securities pledged as a percent of total securities | 62.40% | 67.90% |
Securities - Summaries of Fair
Securities - Summaries of Fair Values and Unrealized Losses of Impaired Securities, Segregated by Length of Impairment (Detail) $ in Thousands | Mar. 31, 2017USD ($)Security | Dec. 31, 2016USD ($)Security |
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 115 | 113 |
Number of available for sale securities, Greater than 1 year | Security | 17 | 12 |
Number of available for sale securities | Security | 132 | 125 |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 1,806,324 | $ 1,644,951 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (21,017) | (27,928) |
Securities Available For Sale, 12 Months or More, Fair Value | 95,237 | 93,510 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (4,081) | (4,278) |
Securities Available For Sale, Fair Value, Total | 1,901,561 | 1,738,461 |
Securities Available For Sale, Unrealized Losses, Total | $ (25,098) | $ (32,206) |
Number of held to maturity securities | Security | 197 | 186 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 1,689,634 | $ 1,513,912 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (43,204) | (46,484) |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 115,230 | 120,957 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | (4,002) | (4,307) |
Securities Held To Maturity, Fair Value, Total | 1,804,864 | 1,634,869 |
Securities Held To Maturity, Unrealized Losses, Total | $ (47,206) | $ (50,791) |
Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 184 | 173 |
Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 13 | 13 |
U.S. Government-Sponsored Entities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 13 | 11 |
Number of available for sale securities | Security | 13 | 11 |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 246,881 | $ 211,636 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (3,104) | (3,370) |
Securities Available For Sale, Fair Value, Total | 246,881 | 211,636 |
Securities Available For Sale, Unrealized Losses, Total | $ (3,104) | $ (3,370) |
Number of held to maturity securities | Security | 11 | 10 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 200,745 | $ 185,525 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (4,255) | (4,475) |
Securities Held To Maturity, Fair Value, Total | 200,745 | 185,525 |
Securities Held To Maturity, Unrealized Losses, Total | $ (4,255) | $ (4,475) |
U.S. Government-Sponsored Entities [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 11 | 10 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 56 | 55 |
Number of available for sale securities | Security | 56 | 55 |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 1,176,464 | $ 1,056,731 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (10,753) | (16,994) |
Securities Available For Sale, Fair Value, Total | 1,176,464 | 1,056,731 |
Securities Available For Sale, Unrealized Losses, Total | $ (10,753) | $ (16,994) |
Number of held to maturity securities | Security | 38 | 36 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 695,915 | $ 551,404 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (6,795) | (8,645) |
Securities Held To Maturity, Fair Value, Total | 695,915 | 551,404 |
Securities Held To Maturity, Unrealized Losses, Total | $ (6,795) | $ (8,645) |
Agency Mortgage-Backed Securities [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 38 | 36 |
Agency Collateralized Mortgage Obligations [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 29 | 26 |
Number of available for sale securities, Greater than 1 year | Security | 9 | 9 |
Number of available for sale securities | Security | 38 | 35 |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 364,095 | $ 346,662 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (6,990) | (7,261) |
Securities Available For Sale, 12 Months or More, Fair Value | 84,869 | 89,040 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (3,626) | (3,843) |
Securities Available For Sale, Fair Value, Total | 448,964 | 435,702 |
Securities Available For Sale, Unrealized Losses, Total | $ (10,616) | $ (11,104) |
Number of held to maturity securities | Security | 41 | 41 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 498,743 | $ 516,237 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (13,236) | (13,710) |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 107,546 | 112,690 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | (3,767) | (4,091) |
Securities Held To Maturity, Fair Value, Total | 606,289 | 628,927 |
Securities Held To Maturity, Unrealized Losses, Total | $ (17,003) | $ (17,801) |
Agency Collateralized Mortgage Obligations [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 29 | 29 |
Agency Collateralized Mortgage Obligations [Member] | Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 12 | 12 |
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 | $ 419 | $ 1,291 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (1) | (1) |
Securities Available For Sale, Fair Value, Total | 419 | 1,291 |
Securities Available For Sale, Unrealized Losses, Total | $ (1) | $ (1) |
Number of held to maturity securities | Security | 4 | 2 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 14,875 | $ 12,317 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (67) | (10) |
Securities Held To Maturity, Greater than 12 Months, Fair Value | 7,684 | 8,267 |
Securities Held To Maturity, Greater than 12 Months, Unrealized Losses | (235) | (216) |
Securities Held To Maturity, Fair Value, Total | 22,559 | 20,584 |
Securities Held To Maturity, Unrealized Losses, Total | $ (302) | $ (226) |
Commercial Mortgage-Backed Securities [Member] | Less than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 3 | 1 |
Commercial Mortgage-Backed Securities [Member] | Greater than 12 Months [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of held to maturity securities | Security | 1 | 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 | 11 | 20 |
Number of available for sale securities, Greater than 1 year | Security | 5 | |
Number of available for sale securities | Security | 16 | 20 |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 17,762 | $ 28,631 |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (72) | (302) |
Securities Available For Sale, 12 Months or More, Fair Value | 5,834 | |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (82) | |
Securities Available For Sale, Fair Value, Total | 23,596 | 28,631 |
Securities Available For Sale, Unrealized Losses, Total | $ (154) | $ (302) |
Number of held to maturity securities | Security | 103 | 94 |
Securities Held To Maturity, Less than 12 Months, Fair Value | $ 279,356 | $ 247,301 |
Securities Held To Maturity, Less than 12 Months, Unrealized Losses | (18,851) | (19,638) |
Securities Held To Maturity, Fair Value, Total | 279,356 | 247,301 |
Securities Held To Maturity, Unrealized Losses, Total | $ (18,851) | $ (19,638) |
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 | 103 | 94 |
Other Debt 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 | $ 4,534 | $ 4,470 |
Securities Available For Sale, 12 Months or More, Unrealized Losses | (373) | (435) |
Securities Available For Sale, Fair Value, Total | 4,534 | 4,470 |
Securities Available For Sale, Unrealized Losses, Total | $ (373) | $ (435) |
Equity Securities [Member] | ||
Schedule Of Securities [Line Items] | ||
Number of available for sale securities, Less than 1 year | Security | 5 | |
Number of available for sale securities | Security | 5 | |
Securities Available For Sale, Less than 12 Months, Fair Value | $ 703 | |
Securities Available For Sale, Less than 12 Months, Unrealized Losses | (97) | |
Securities Available For Sale, Fair Value, Total | 703 | |
Securities Available For Sale, Unrealized Losses, Total | $ (97) |
Securities - Additional Informa
Securities - Additional Information (Detail) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Schedule Of Securities [Line Items] | ||
OTTI losses on securities | $ 0 | $ 0 |
Municipal bond portfolio, value | $ 584,500,000 | |
Percentage of formal credit enhancement insurance of municipalities | 66.00% | |
Municipal Bonds [Member] | Weighted Average [Member] | ||
Schedule Of Securities [Line Items] | ||
Average holding size of securities in bond portfolio | $ 2,300,000 | |
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 | 69.70% |
Loans and Leases - Summary of L
Loans and Leases - Summary of Loans and Leases, Net of Unearned Income (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | $ 20,177,650 | $ 14,896,943 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 8,768,357 | 5,435,162 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 3,792,679 | 3,042,781 |
Commercial Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 197,071 | 196,636 |
Total Commercial Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 12,758,107 | 8,674,579 |
Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,965,118 | 1,844,399 |
Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 2,342,167 | 1,844,574 |
Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,259,947 | 1,196,313 |
Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,805,996 | 1,301,200 |
Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 46,315 | 35,878 |
Originated Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 13,034,528 | 12,547,987 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 4,262,270 | 4,095,817 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 2,857,584 | 2,711,886 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 197,071 | 196,636 |
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 | 7,316,925 | 7,004,339 |
Originated Loans and Leases [Member] | Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,758,895 | 1,765,257 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,551,928 | 1,446,776 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 1,259,770 | 1,196,110 |
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 | 1,100,695 | 1,099,627 |
Originated Loans and Leases [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 46,315 | 35,878 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 7,143,122 | 2,348,956 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 4,506,087 | 1,339,345 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 935,095 | 330,895 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 5,441,182 | 1,670,240 |
Acquired Loans [Member] | Direct Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 206,223 | 79,142 |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 790,239 | 397,798 |
Acquired Loans [Member] | Indirect Installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | 177 | 203 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, net of unearned income | $ 705,301 | $ 201,573 |
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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Loans and Leases Receivable Disclosure [Line Items] | ||
Regency consumer finance loans | $ 173,786 | $ 184,687 |
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 | 0.90% | 1.20% |
Loans and Leases - Certain In58
Loans and Leases - Certain Information Relating to Commercial Real Estate Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Loans and Leases Receivable Disclosure [Line Items] | ||
Commercial construction loans | $ 1,050,129 | $ 459,995 |
Credit Concentration Risk [Member] | Commercial Construction Loans [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Percent of total loans and leases | 5.20% | 3.10% |
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 | 37.40% | 36.20% |
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 | 62.60% | 63.80% |
Loans and Leases - Summary of O
Loans and Leases - Summary of Outstanding Principal Balance and Carrying Amount of Acquired Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount | $ 20,177,650 | $ 14,896,943 |
Accounted for under ASC 310-30 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 7,205,696 | 2,346,687 |
Carrying amount | 6,644,633 | 2,015,904 |
Accounted for under ASC 310-20 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 502,001 | 342,015 |
Carrying amount | 491,921 | 325,784 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 7,707,697 | 2,688,702 |
Carrying amount | $ 7,136,554 | $ 2,341,688 |
Loans and Leases - Additional I
Loans and Leases - Additional Information (Detail) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Carrying amount | $ 20,177,650,000 | $ 14,896,943,000 | $ 20,177,650,000 | $ 14,896,943,000 | |
Reclassification from non-accretable difference | 23,106,000 | $ 10,494,000 | |||
Loans acquired and accounted for under ASC 310-30, Fair value | 4,257,680,000 | 4,257,680,000 | |||
Loans acquired and accounted for under ASC 310-30, Contractual cash flows not expected to be collected | 5,133,416,000 | $ 5,133,416,000 | |||
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 | 1,900,000 | $ 1,200,000 | |||
Restructured loans returned to performing status | 1,800,000 | ||||
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 | 3,700,000 | |||
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 | 5,000,000 | 5,000,000 | |||
Loans acquired and accounted for under ASC 310-30, Unpaid principal balance | 5,200,000 | 5,200,000 | |||
Loans acquired and accounted for under ASC 310-30, Contractual cash flows not expected to be collected | 6,200,000 | 6,200,000 | |||
Purchased Credit-Impaired Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Carrying amount | $ 11,800,000 | $ 2,800,000 | $ 11,800,000 | 2,800,000 | |
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 | $ 5,900,000 | $ 5,300,000 | $ 5,900,000 | 5,300,000 | |
Mortgage loans on real estate, foreclosure | $ 11,900,000 | $ 12,000,000 |
Loans and Leases - Summary of C
Loans and Leases - Summary of Change in Accretable Yield of Acquired Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period [Abstract] | ||
Balance at beginning of period | $ 467,070 | $ 256,120 |
Acquisitions | 443,261 | 284,092 |
Reduction due to unexpected early payoffs | (20,560) | (9,375) |
Reclass from non-accretable difference | 23,106 | 10,494 |
Disposals/transfers | (36) | (260) |
Accretion | (25,241) | (13,204) |
Balance at end of period | $ 887,600 | $ 527,867 |
Loans and Leases - Summary of A
Loans and Leases - Summary of Acquisition of Purchased Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Contractually required cash flows at acquisition | $ 5,133,416 | |
Non-accretable difference (expected losses and foregone interest) | (432,475) | |
Cash flows expected to be collected at acquisition | 4,700,941 | |
Accretable yield | (25,241) | $ (13,204) |
Fair value of acquired loans at acquisition | 4,257,680 | |
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 | 48,941 | |
Non-accretable difference (expected losses and foregone interest) | (25,673) | |
Cash flows expected to be collected at acquisition | 23,268 | |
Accretable yield | (3,323) | |
Fair value of acquired loans at acquisition | 19,945 | |
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 | 5,084,475 | |
Non-accretable difference (expected losses and foregone interest) | (406,802) | |
Cash flows expected to be collected at acquisition | 4,677,673 | |
Accretable yield | (439,938) | |
Fair value of acquired loans at acquisition | $ 4,237,735 |
Loans and Leases - Summary of N
Loans and Leases - Summary of Non-Performing Assets (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled debt restructurings | $ 51,236 | $ 46,933 |
Non-Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 81,390 | 65,479 |
Troubled debt restructurings | 23,988 | 20,428 |
Total non-performing loans | 105,378 | 85,907 |
Other real estate owned (OREO) | 50,088 | 32,490 |
Total non-performing assets | $ 155,466 | $ 118,397 |
Non-performing loans / total loans and leases | 0.52% | 0.58% |
Non-performing loans + OREO / total loans and leases + OREO | 0.77% | 0.79% |
Non-performing assets / of total assets | 0.51% | 0.54% |
Loans and Leases - Age Analysis
Loans and Leases - Age Analysis of Past Due Loans, by Class (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 20,177,650 | $ 14,896,943 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 8,768,357 | 5,435,162 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 3,792,679 | 3,042,781 |
Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 197,071 | 196,636 |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 12,758,107 | 8,674,579 |
Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,965,118 | 1,844,399 |
Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 2,342,167 | 1,844,574 |
Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,259,947 | 1,196,313 |
Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,805,996 | 1,301,200 |
Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 46,315 | 35,878 |
Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 38,398 | 59,850 |
> 90 Days Past Due and Still Accruing | 6,932 | 9,113 |
Non-Accrual | 76,294 | 62,083 |
Total Past Due | 121,624 | 131,046 |
Current | 12,912,904 | 12,416,941 |
Total Loans | 13,034,528 | 12,547,987 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 5,923 | 8,452 |
> 90 Days Past Due and Still Accruing | 1 | 1 |
Non-Accrual | 23,040 | 20,114 |
Total Past Due | 28,964 | 28,567 |
Current | 4,233,306 | 4,067,250 |
Total Loans | 4,262,270 | 4,095,817 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 5,007 | 16,019 |
> 90 Days Past Due and Still Accruing | 3 | 3 |
Non-Accrual | 34,826 | 24,141 |
Total Past Due | 39,836 | 40,163 |
Current | 2,817,748 | 2,671,723 |
Total Loans | 2,857,584 | 2,711,886 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 1,039 | 973 |
> 90 Days Past Due and Still Accruing | 1 | |
Non-Accrual | 2,017 | 3,429 |
Total Past Due | 3,056 | 4,403 |
Current | 194,015 | 192,233 |
Total Loans | 197,071 | 196,636 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 11,969 | 25,444 |
> 90 Days Past Due and Still Accruing | 4 | 5 |
Non-Accrual | 59,883 | 47,684 |
Total Past Due | 71,856 | 73,133 |
Current | 7,245,069 | 6,931,206 |
Total Loans | 7,316,925 | 7,004,339 |
Originated Loans and Leases [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 7,973 | 10,573 |
> 90 Days Past Due and Still Accruing | 4,092 | 4,386 |
Non-Accrual | 7,675 | 6,484 |
Total Past Due | 19,740 | 21,443 |
Current | 1,739,155 | 1,743,814 |
Total Loans | 1,758,895 | 1,765,257 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 9,797 | 10,594 |
> 90 Days Past Due and Still Accruing | 1,966 | 3,014 |
Non-Accrual | 4,466 | 3,316 |
Total Past Due | 16,229 | 16,924 |
Current | 1,535,699 | 1,429,852 |
Total Loans | 1,551,928 | 1,446,776 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 5,678 | 9,312 |
> 90 Days Past Due and Still Accruing | 374 | 513 |
Non-Accrual | 1,488 | 1,983 |
Total Past Due | 7,540 | 11,808 |
Current | 1,252,230 | 1,184,302 |
Total Loans | 1,259,770 | 1,196,110 |
Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 2,739 | 3,529 |
> 90 Days Past Due and Still Accruing | 375 | 1,112 |
Non-Accrual | 1,782 | 1,616 |
Total Past Due | 4,896 | 6,257 |
Current | 1,095,799 | 1,093,370 |
Total Loans | 1,100,695 | 1,099,627 |
Originated Loans and Leases [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 242 | 398 |
> 90 Days Past Due and Still Accruing | 121 | 83 |
Non-Accrual | 1,000 | 1,000 |
Total Past Due | 1,363 | 1,481 |
Current | 44,952 | 34,397 |
Total Loans | 46,315 | 35,878 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 85,170 | 24,210 |
> 90 Days Past Due and Still Accruing | 69,213 | 40,524 |
Non-Accrual | 5,096 | 3,396 |
Total Past Due | 159,479 | 68,130 |
Current | 7,307,691 | 2,430,340 |
Discount | (324,048) | (149,514) |
Total Loans | 7,143,122 | 2,348,956 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 41,450 | 9,501 |
> 90 Days Past Due and Still Accruing | 39,243 | 23,890 |
Non-Accrual | 1,414 | 949 |
Total Past Due | 82,107 | 34,340 |
Current | 4,630,159 | 1,384,752 |
Discount | (206,179) | (79,747) |
Total Loans | 4,506,087 | 1,339,345 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 7,587 | 1,789 |
> 90 Days Past Due and Still Accruing | 7,736 | 2,942 |
Non-Accrual | 2,854 | 2,111 |
Total Past Due | 18,177 | 6,842 |
Current | 977,012 | 353,494 |
Discount | (60,094) | (29,441) |
Total Loans | 935,095 | 330,895 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 49,037 | 11,290 |
> 90 Days Past Due and Still Accruing | 46,979 | 26,832 |
Non-Accrual | 4,268 | 3,060 |
Total Past Due | 100,284 | 41,182 |
Current | 5,607,171 | 1,738,246 |
Discount | (266,273) | (109,188) |
Total Loans | 5,441,182 | 1,670,240 |
Acquired Loans [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 5,669 | 2,317 |
> 90 Days Past Due and Still Accruing | 2,183 | 1,344 |
Non-Accrual | 81 | |
Total Past Due | 7,933 | 3,661 |
Current | 196,563 | 73,479 |
Discount | 1,727 | 2,002 |
Total Loans | 206,223 | 79,142 |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 19,069 | 8,428 |
> 90 Days Past Due and Still Accruing | 14,075 | 10,816 |
Total Past Due | 33,144 | 19,244 |
Current | 800,460 | 416,561 |
Discount | (43,365) | (38,007) |
Total Loans | 790,239 | 397,798 |
Acquired Loans [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 19 | |
> 90 Days Past Due and Still Accruing | 2 | 4 |
Total Past Due | 2 | 23 |
Current | 75 | 96 |
Discount | 100 | 84 |
Total Loans | 177 | 203 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 11,395 | 2,156 |
> 90 Days Past Due and Still Accruing | 5,974 | 1,528 |
Non-Accrual | 747 | 336 |
Total Past Due | 18,116 | 4,020 |
Current | 703,422 | 201,958 |
Discount | (16,237) | (4,405) |
Total Loans | $ 705,301 | $ 201,573 |
Loans and Leases - Summary of65
Loans and Leases - Summary of Commercial Loans and Leases by Credit Quality (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | $ 20,177,650 | $ 14,896,943 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 8,768,357 | 5,435,162 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,792,679 | 3,042,781 |
Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 197,071 | 196,636 |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 12,758,107 | 8,674,579 |
Originated Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 13,034,528 | 12,547,987 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,262,270 | 4,095,817 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,857,584 | 2,711,886 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 197,071 | 196,636 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 7,316,925 | 7,004,339 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 7,143,122 | 2,348,956 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,506,087 | 1,339,345 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 935,095 | 330,895 |
Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 5,441,182 | 1,670,240 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,068,403 | 3,895,764 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,616,144 | 2,475,955 |
Pass [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 190,641 | 188,662 |
Pass [Member] | Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 6,875,188 | 6,560,381 |
Pass [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,699,904 | 1,144,676 |
Pass [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 786,808 | 274,819 |
Pass [Member] | Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 4,486,712 | 1,419,495 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 132,700 | 130,452 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 122,892 | 104,652 |
Special Mention [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 3,711 | 3,789 |
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 | 259,303 | 238,893 |
Special Mention [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 531,316 | 85,894 |
Special Mention [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 77,961 | 20,593 |
Special Mention [Member] | Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 609,277 | 106,487 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 60,958 | 69,588 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 109,515 | 128,089 |
Substandard [Member] | Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 2,719 | 4,185 |
Substandard [Member] | Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 173,192 | 201,862 |
Substandard [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 274,506 | 108,128 |
Substandard [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 70,171 | 34,967 |
Substandard [Member] | Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 344,677 | 143,095 |
Doubtful [Member] | Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 209 | 13 |
Doubtful [Member] | Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 9,033 | 3,190 |
Doubtful [Member] | Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 9,242 | 3,203 |
Doubtful [Member] | Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 361 | 647 |
Doubtful [Member] | Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | 155 | 516 |
Doubtful [Member] | Acquired Loans [Member] | Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total commercial loans and leases | $ 516 | $ 1,163 |
Loans and Leases - Summary of66
Loans and Leases - Summary of Consumer Loans by Payment Status (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Credit Quality [Line Items] | ||
Total Loans | $ 20,177,650 | $ 14,896,943 |
Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 105,378 | 85,907 |
Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,965,118 | 1,844,399 |
Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 2,342,167 | 1,844,574 |
Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,259,947 | 1,196,313 |
Originated Loans and Leases [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 13,034,528 | 12,547,987 |
Originated Loans and Leases [Member] | Consumer Loan [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 5,671,288 | 5,507,770 |
Originated Loans and Leases [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 5,636,346 | 5,474,286 |
Originated Loans and Leases [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 34,942 | 33,484 |
Originated Loans and Leases [Member] | Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,758,895 | 1,765,257 |
Originated Loans and Leases [Member] | Direct Installment [Member] | Consumer Loan [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,758,895 | 1,765,257 |
Originated Loans and Leases [Member] | Direct Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 1,742,702 | 1,750,305 |
Originated Loans and Leases [Member] | Direct Installment [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 16,193 | 14,952 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,551,928 | 1,446,776 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | Consumer Loan [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,551,928 | 1,446,776 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 1,537,779 | 1,433,409 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 14,149 | 13,367 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,259,770 | 1,196,110 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | Consumer Loan [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,259,770 | 1,196,110 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 1,258,084 | 1,193,930 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 1,686 | 2,180 |
Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | Consumer Loan [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,100,695 | 1,099,627 |
Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 1,097,781 | 1,096,642 |
Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 2,914 | 2,985 |
Acquired Loans [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 7,143,122 | 2,348,956 |
Acquired Loans [Member] | Consumer Loan [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 1,701,940 | 678,716 |
Acquired Loans [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 1,698,943 | 678,204 |
Acquired Loans [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 2,997 | 512 |
Acquired Loans [Member] | Direct Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 206,223 | 79,142 |
Acquired Loans [Member] | Direct Installment [Member] | Consumer Loan [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 206,223 | 79,142 |
Acquired Loans [Member] | Direct Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 206,138 | 79,142 |
Acquired Loans [Member] | Direct Installment [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 85 | |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 790,239 | 397,798 |
Acquired Loans [Member] | Residential Mortgages [Member] | Consumer Loan [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 790,239 | 397,798 |
Acquired Loans [Member] | Residential Mortgages [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 788,656 | 397,798 |
Acquired Loans [Member] | Residential Mortgages [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | 1,583 | |
Acquired Loans [Member] | Indirect Installment [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 177 | 203 |
Acquired Loans [Member] | Indirect Installment [Member] | Consumer Loan [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 177 | 203 |
Acquired Loans [Member] | Indirect Installment [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 177 | 203 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | Consumer Loan [Member] | ||
Credit Quality [Line Items] | ||
Total Loans | 705,301 | 201,573 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | Performing [Member] | ||
Credit Quality [Line Items] | ||
Performing Loans | 703,972 | 201,061 |
Acquired Loans [Member] | Consumer Lines of Credit [Member] | Non-Performing [Member] | ||
Credit Quality [Line Items] | ||
Non-Performing Loans | $ 1,329 | $ 512 |
Loans and Leases - Summary of I
Loans and Leases - Summary of Impaired Loans and Lease, by Class (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | $ 108,588 | $ 93,479 |
Recorded Investment With No Specific Reserve | 71,280 | 72,393 |
Recorded Investment With Specific Reserve | 24,094 | 9,460 |
Total Recorded Investment | 95,374 | 81,853 |
Specific Reserve | 9,247 | 3,203 |
Average Recorded Investment | 88,613 | 86,388 |
Commercial Real Estate [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 27,470 | 23,771 |
Recorded Investment With No Specific Reserve | 21,266 | 19,699 |
Recorded Investment With Specific Reserve | 1,795 | 464 |
Total Recorded Investment | 23,061 | 20,163 |
Specific Reserve | 209 | 13 |
Average Recorded Investment | 21,612 | 19,217 |
Commercial and Industrial [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 36,889 | 25,719 |
Recorded Investment With No Specific Reserve | 12,055 | 14,781 |
Recorded Investment With Specific Reserve | 22,299 | 8,996 |
Total Recorded Investment | 34,354 | 23,777 |
Specific Reserve | 9,038 | 3,190 |
Average Recorded Investment | 29,065 | 29,730 |
Commercial Leases [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 2,017 | 3,429 |
Recorded Investment With No Specific Reserve | 2,017 | 3,429 |
Total Recorded Investment | 2,017 | 3,429 |
Average Recorded Investment | 2,723 | 3,394 |
Total Commercial Loans and Leases [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 66,376 | 52,919 |
Recorded Investment With No Specific Reserve | 35,338 | 37,909 |
Recorded Investment With Specific Reserve | 24,094 | 9,460 |
Total Recorded Investment | 59,432 | 47,369 |
Specific Reserve | 9,247 | 3,203 |
Average Recorded Investment | 53,400 | 52,341 |
Direct Installment [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 18,062 | 16,440 |
Recorded Investment With No Specific Reserve | 16,193 | 14,952 |
Total Recorded Investment | 16,193 | 14,952 |
Average Recorded Investment | 15,572 | 14,997 |
Residential Mortgages [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 15,151 | 14,090 |
Recorded Investment With No Specific Reserve | 14,149 | 13,367 |
Total Recorded Investment | 14,149 | 13,367 |
Average Recorded Investment | 13,758 | 13,200 |
Indirect Installment [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 4,168 | 5,172 |
Recorded Investment With No Specific Reserve | 1,686 | 2,180 |
Total Recorded Investment | 1,686 | 2,180 |
Average Recorded Investment | 1,933 | 2,037 |
Consumer Lines of Credit [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 3,831 | 3,858 |
Recorded Investment With No Specific Reserve | 2,914 | 2,985 |
Total Recorded Investment | 2,914 | 2,985 |
Average Recorded Investment | 2,950 | 2,813 |
Other [Member] | ||
Financial Receivables Impaired Or Restructured [Line Items] | ||
Unpaid Contractual Principal Balance | 1,000 | 1,000 |
Recorded Investment With No Specific Reserve | 1,000 | 1,000 |
Total Recorded Investment | 1,000 | 1,000 |
Average Recorded Investment | $ 1,000 | $ 1,000 |
Loans and Leases - Additional A
Loans and Leases - Additional Allowance for Credit Losses Relating to Acquired Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total allowance on acquired loans | $ 6,568 | $ 7,268 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total allowance on acquired loans | 3,734 | 4,538 |
Commercial and Industrial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total allowance on acquired loans | 127 | 500 |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total allowance on acquired loans | 3,861 | 5,038 |
Direct Installment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total allowance on acquired loans | 994 | 1,005 |
Residential Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total allowance on acquired loans | 795 | 632 |
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 | $ 697 | $ 372 |
Loans and Leases - Summary of P
Loans and Leases - Summary of Payment Status of TDRs (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | $ 51,236 | $ 46,933 |
Originated Loans and Leases [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 46,073 | 46,392 |
Acquired Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 5,163 | 541 |
Performing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 17,824 | 17,470 |
Performing [Member] | Originated Loans and Leases [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 17,552 | 17,105 |
Performing [Member] | Acquired Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 272 | 365 |
Non-Performing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 23,988 | 20,428 |
Non-Performing [Member] | Originated Loans and Leases [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 19,659 | 20,252 |
Non-Performing [Member] | Acquired Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 4,329 | 176 |
Non-Accrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 9,424 | 9,035 |
Non-Accrual [Member] | Originated Loans and Leases [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | 8,862 | $ 9,035 |
Non-Accrual [Member] | Acquired Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings ("TDRs") | $ 562 |
Loans and Leases - Reserve for
Loans and Leases - Reserve for Commercial TDRs Included in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Modifications [Line Items] | ||||
Reserves in allowance for loan losses, TDRs | $ 160,782 | $ 158,059 | $ 147,800 | $ 142,012 |
Total Commercial Loans and Leases [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Reserves in allowance for loan losses, TDRs | 103,472 | 97,906 | $ 94,579 | $ 85,305 |
Specific Reserves for Commercial TDRs [Member] | Total Commercial Loans and Leases [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Reserves in allowance for loan losses, TDRs | 253 | 291 | ||
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 | $ 234 | $ 276 |
Loans and Leases - Reserve fo71
Loans and Leases - Reserve for Commercial TDRs Included in Allowance for Credit Losses (Parenthetical) (Detail) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Receivables [Abstract] | ||
Valuation for impairment of loans with pooled reserves | $ 500,000 | $ 500,000 |
Loans and Leases - Summary of T
Loans and Leases - Summary of Troubled Debt Restructurings by Class of Loans (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017USD ($)Contract | Mar. 31, 2016USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 207 | 192 |
Pre-Modification Outstanding Recorded Investment | $ 2,524 | $ 9,556 |
Post-Modification Outstanding Recorded Investment | $ 2,440 | $ 7,201 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 1 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 114 | $ 778 |
Post-Modification Outstanding Recorded Investment | $ 109 | $ 760 |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 5,565 | |
Post-Modification Outstanding Recorded Investment | $ 3,279 | |
Total Commercial Loans and Leases [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 1 | 6 |
Pre-Modification Outstanding Recorded Investment | $ 114 | $ 6,343 |
Post-Modification Outstanding Recorded Investment | $ 109 | $ 4,039 |
Direct Installment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 171 | 145 |
Pre-Modification Outstanding Recorded Investment | $ 1,488 | $ 1,991 |
Post-Modification Outstanding Recorded Investment | $ 1,412 | $ 1,961 |
Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 8 | 18 |
Pre-Modification Outstanding Recorded Investment | $ 163 | $ 968 |
Post-Modification Outstanding Recorded Investment | $ 176 | $ 951 |
Indirect Installment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 5 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 17 | $ 11 |
Post-Modification Outstanding Recorded Investment | $ 14 | $ 12 |
Consumer Lines of Credit [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 22 | 20 |
Pre-Modification Outstanding Recorded Investment | $ 742 | $ 243 |
Post-Modification Outstanding Recorded Investment | $ 729 | $ 238 |
Loans and Leases - Summary of73
Loans and Leases - Summary of Originated Troubled Debt Restructurings by Class of Loans and Leases, Payment Default (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017USD ($)Contract | Mar. 31, 2016USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 38 | 34 |
Recorded Investment | $ | $ 350 | $ 240 |
Direct Installment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 29 | 28 |
Recorded Investment | $ | $ 82 | $ 175 |
Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 2 | 1 |
Recorded Investment | $ | $ 224 | $ 50 |
Indirect Installment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 6 | 4 |
Recorded Investment | $ | $ 10 | $ 5 |
Consumer Lines of Credit [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 1 | 1 |
Recorded Investment | $ | $ 34 | $ 10 |
Allowance for Credit Losses - S
Allowance for Credit Losses - Summary of Changes in Allowance for Credit Losses by Loan and Lease Class (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | $ 158,059 | $ 142,012 |
Charge- Offs | (11,294) | (7,884) |
Recoveries | 3,167 | 1,904 |
Net Charge- Offs | (8,127) | (5,980) |
Provision for credit losses | 10,850 | 11,768 |
Balance at End of Period | 160,782 | 147,800 |
Originated Loans and Leases [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 150,791 | 135,285 |
Charge- Offs | (10,812) | (7,503) |
Recoveries | 2,898 | 1,598 |
Net Charge- Offs | (7,914) | (5,905) |
Provision for credit losses | 11,337 | 12,840 |
Balance at End of Period | 154,214 | 142,220 |
Acquired Loans [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 7,268 | 6,727 |
Charge- Offs | (482) | (381) |
Recoveries | 269 | 306 |
Net Charge- Offs | (213) | (75) |
Provision for credit losses | (487) | (1,072) |
Balance at End of Period | 6,568 | 5,580 |
Commercial Real Estate [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 46,635 | 41,741 |
Charge- Offs | (988) | (1,369) |
Recoveries | 361 | 597 |
Net Charge- Offs | (627) | (772) |
Provision for credit losses | 381 | 2,929 |
Balance at End of Period | 46,389 | 43,898 |
Commercial and Industrial [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 47,991 | 41,023 |
Charge- Offs | (2,463) | (298) |
Recoveries | 474 | 190 |
Net Charge- Offs | (1,989) | (108) |
Provision for credit losses | 7,568 | 6,948 |
Balance at End of Period | 53,570 | 47,863 |
Commercial Leases [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 3,280 | 2,541 |
Charge- Offs | (506) | (114) |
Recoveries | 1 | 14 |
Net Charge- Offs | (505) | (100) |
Provision for credit losses | 738 | 377 |
Balance at End of Period | 3,513 | 2,818 |
Total Commercial Loans and Leases [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 97,906 | 85,305 |
Charge- Offs | (3,957) | (1,781) |
Recoveries | 836 | 801 |
Net Charge- Offs | (3,121) | (980) |
Provision for credit losses | 8,687 | 10,254 |
Balance at End of Period | 103,472 | 94,579 |
Direct Installment [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 21,391 | 21,587 |
Charge- Offs | (2,874) | (2,667) |
Recoveries | 628 | 454 |
Net Charge- Offs | (2,246) | (2,213) |
Provision for credit losses | 1,065 | 1,351 |
Balance at End of Period | 20,210 | 20,725 |
Residential Mortgages [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 10,082 | 7,909 |
Charge- Offs | (180) | (85) |
Recoveries | 161 | 19 |
Net Charge- Offs | (19) | (66) |
Provision for credit losses | 147 | (33) |
Balance at End of Period | 10,210 | 7,810 |
Indirect Installment [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 10,564 | 9,889 |
Charge- Offs | (2,370) | (1,942) |
Recoveries | 781 | 262 |
Net Charge- Offs | (1,589) | (1,680) |
Provision for credit losses | 655 | 856 |
Balance at End of Period | 9,630 | 9,065 |
Consumer Lines of Credit [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 9,456 | 9,582 |
Charge- Offs | (458) | (474) |
Recoveries | 165 | 56 |
Net Charge- Offs | (293) | (418) |
Provision for credit losses | (280) | (197) |
Balance at End of Period | 8,883 | 8,967 |
Other [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 1,392 | 1,013 |
Charge- Offs | (973) | (554) |
Recoveries | 327 | 6 |
Net Charge- Offs | (646) | (548) |
Provision for credit losses | 1,063 | 609 |
Balance at End of Period | 1,809 | 1,074 |
Purchased Credit-Impaired Loans [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 572 | 834 |
Charge- Offs | (160) | |
Net Charge- Offs | (160) | |
Provision for credit losses | 88 | 30 |
Balance at End of Period | 660 | 704 |
Other Acquired Loans [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance at Beginning of Period | 6,696 | 5,893 |
Charge- Offs | (482) | (221) |
Recoveries | 269 | 306 |
Net Charge- Offs | (213) | 85 |
Provision for credit losses | (575) | (1,102) |
Balance at End of Period | $ 5,908 | $ 4,876 |
Allowance for Credit Losses -75
Allowance for Credit Losses - Summary of Individual and Collective Allowance for Credit Losses and Loan and Lease Balances by Class (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Valuation Allowance [Line Items] | ||
Originated Allowance, Individually Evaluated for Impairment | $ 9,247 | $ 3,203 |
Originated Allowance, Collectively Evaluated for Impairment | 144,967 | 147,588 |
Loans and Leases | 20,177,650 | 14,896,943 |
Originated Loans and Leases Outstanding, Individually Evaluated for Impairment | 47,146 | 34,719 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 12,987,382 | 12,513,268 |
Commercial Real Estate [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Individually Evaluated for Impairment | 209 | 13 |
Originated Allowance, Collectively Evaluated for Impairment | 46,180 | 46,622 |
Loans and Leases | 8,768,357 | 5,435,162 |
Originated Loans and Leases Outstanding, Individually Evaluated for Impairment | 14,989 | 12,973 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 4,247,281 | 4,082,844 |
Commercial and Industrial [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Individually Evaluated for Impairment | 9,038 | 3,190 |
Originated Allowance, Collectively Evaluated for Impairment | 44,532 | 44,801 |
Loans and Leases | 3,792,679 | 3,042,781 |
Originated Loans and Leases Outstanding, Individually Evaluated for Impairment | 32,157 | 21,746 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 2,825,427 | 2,690,140 |
Commercial Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Collectively Evaluated for Impairment | 3,513 | 3,280 |
Loans and Leases | 197,071 | 196,636 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 197,071 | 196,636 |
Total Commercial Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Individually Evaluated for Impairment | 9,247 | 3,203 |
Originated Allowance, Collectively Evaluated for Impairment | 94,225 | 94,703 |
Loans and Leases | 12,758,107 | 8,674,579 |
Originated Loans and Leases Outstanding, Individually Evaluated for Impairment | 47,146 | 34,719 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 7,269,779 | 6,969,620 |
Direct Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Collectively Evaluated for Impairment | 20,210 | 21,391 |
Loans and Leases | 1,965,118 | 1,844,399 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 1,758,895 | 1,765,257 |
Residential Mortgages [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Collectively Evaluated for Impairment | 10,210 | 10,082 |
Loans and Leases | 2,342,167 | 1,844,574 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 1,551,928 | 1,446,776 |
Indirect Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Collectively Evaluated for Impairment | 9,630 | 10,564 |
Loans and Leases | 1,259,947 | 1,196,313 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 1,259,770 | 1,196,110 |
Consumer Lines of Credit [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Collectively Evaluated for Impairment | 8,883 | 9,456 |
Loans and Leases | 1,805,996 | 1,301,200 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 1,100,695 | 1,099,627 |
Other [Member] | ||
Valuation Allowance [Line Items] | ||
Originated Allowance, Collectively Evaluated for Impairment | 1,809 | 1,392 |
Loans and Leases | 46,315 | 35,878 |
Originated Loans and Leases Outstanding, Collectively Evaluated for Impairment | 46,315 | 35,878 |
Originated Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 13,034,528 | 12,547,987 |
Originated Loans and Leases [Member] | Commercial Real Estate [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 4,262,270 | 4,095,817 |
Originated Loans and Leases [Member] | Commercial and Industrial [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 2,857,584 | 2,711,886 |
Originated Loans and Leases [Member] | Commercial Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 197,071 | 196,636 |
Originated Loans and Leases [Member] | Total Commercial Loans and Leases [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 7,316,925 | 7,004,339 |
Originated Loans and Leases [Member] | Direct Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 1,758,895 | 1,765,257 |
Originated Loans and Leases [Member] | Residential Mortgages [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 1,551,928 | 1,446,776 |
Originated Loans and Leases [Member] | Indirect Installment [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 1,259,770 | 1,196,110 |
Originated Loans and Leases [Member] | Consumer Lines of Credit [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | 1,100,695 | 1,099,627 |
Originated Loans and Leases [Member] | Other [Member] | ||
Valuation Allowance [Line Items] | ||
Loans and Leases | $ 46,315 | $ 35,878 |
Loan Servicing - Additional Inf
Loan Servicing - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Servicing Assets at Fair Value [Line Items] | |||
Service charges | $ 24,807,000 | $ 21,134,000 | |
Mortgage Servicing Rights [Member] | |||
Servicing Assets at Fair Value [Line Items] | |||
Unpaid principal balance of loans | 2,700,000,000 | $ 1,800,000,000 | |
Mortgage servicing fees recorded in mortgage banking income | 1,600,000 | 900,000 | |
Valuation allowance | 0 | $ 0 | |
SBA-Guaranteed Loan Servicing [Member] | |||
Servicing Assets at Fair Value [Line Items] | |||
Unpaid principal balance of loans | 255,200,000 | ||
Valuation allowance | 0 | ||
Service charges | $ 300,000 |
Loan Servicing - Summary of Mor
Loan Servicing - Summary of Mortgage Servicing Rights Activity (Detail) - Mortgage Servicing Rights [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Servicing Assets at Fair Value [Line Items] | ||
Balance at beginning of period | $ 13,521 | $ 8,921 |
Fair value of MSRs acquired | 8,553 | |
Additions | 1,454 | 884 |
Payoffs and curtailments | (139) | (98) |
Amortization | (523) | (467) |
Balance at end of period | 22,866 | 9,240 |
Fair value, beginning of period | 17,546 | 11,503 |
Fair value, end of period | $ 26,962 | $ 11,538 |
Loan Servicing - Summary of the
Loan Servicing - Summary of the Sensitivity of Fair Value of MSRs to Changes in key Assumptions (Detail) - Mortgage Servicing Rights [Member] - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||
Weighted average life (months) | 82 months 6 days | 79 months |
Constant prepayment rate (annualized) | 9.40% | 9.90% |
Discount rate | 9.70% | 9.80% |
Effect on fair value due to change in interest rates of + 0.25% | $ 1,229 | $ 692 |
Effect on fair value due to change in interest rates of + 0.50% | 2,298 | 1,288 |
Effect on fair value due to change in interest rates of - 0.25% | (1,370) | (789) |
Effect on fair value due to change in interest rates of - 0.50% | $ (2,839) | $ (1,680) |
Loan Servicing - Summary of Act
Loan Servicing - Summary of Activity in SBA-Guaranteed Loan Servicing Asset (Detail) - SBA-Guaranteed Loan Servicing [Member] $ in Thousands | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Servicing Assets at Fair Value [Line Items] | |
Fair value of servicing rights acquired | $ 5,399 |
Additions | 0 |
Amortization | (60) |
Balance at end of period | $ 5,339 |
Borrowings - Summary of Short-T
Borrowings - Summary of Short-Term Borrowings (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Debt Disclosure [Abstract] | ||
Securities sold under repurchase agreements | $ 310,751 | $ 313,062 |
Federal Home Loan Bank advances | 1,960,000 | 1,025,000 |
Federal funds purchased | 1,185,000 | 1,037,000 |
Subordinated notes | 130,212 | 127,948 |
Total short-term borrowings | $ 3,585,963 | $ 2,503,010 |
Borrowings - Summary of Long-Te
Borrowings - Summary of Long-Term Borrowings (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Debt Disclosure [Abstract] | ||
Federal Home Loan Bank advances | $ 330,098 | $ 305,110 |
Subordinated notes | 87,558 | 87,147 |
Junior subordinated debt | 109,987 | 48,600 |
Other subordinated debt | 168,563 | 98,637 |
Total long-term borrowings | $ 696,206 | $ 539,494 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) | May 01, 2017USD ($) | Mar. 31, 2017USD ($)Trust | Dec. 31, 2016 |
Debt Instrument [Line Items] | |||
Number of unconsolidated subsidiary trusts | Trust | 6 | ||
Percent of the common equity of each Trust owned by the Corporation | 100.00% | ||
Yadkin Financial Corporation (YDKN) [Member] | Subsequent Event [Member] | |||
Debt Instrument [Line Items] | |||
Subordinate debt repaid | $ 7,500,000 | ||
FHLB [Member] | |||
Debt Instrument [Line Items] | |||
Credit available with FHLB | $ 6,900,000,000 | ||
Credit with FHLB utilized | $ 2,300,000,000 | ||
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 | ||
Minimum [Member] | FHLB [Member] | |||
Debt Instrument [Line Items] | |||
Effective interest rates | 1.03% | 0.95% | |
Maximum [Member] | FHLB [Member] | |||
Debt Instrument [Line Items] | |||
Effective interest rates | 4.19% | 4.19% |
Borrowings - Junior Subordinate
Borrowings - Junior Subordinated Debt Trusts (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 109,987 | $ 48,600 |
Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 115,500 | |
Common Stock Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 3,885 | |
F.N.B. Statutory Trust II [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 22,165 | |
Stated Maturity Date | Jun. 15, 2036 | |
Interest Rate | 2.78% | |
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 | $ 26,445 | |
Stated Maturity Date | Oct. 18, 2034 | |
Interest Rate | 3.21% | |
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 | |
Yadkin Valley Statutory Trust I [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 20,677 | |
Stated Maturity Date | Dec. 15, 2037 | |
Interest Rate | 2.45% | |
Description of variable rate | Variable; LIBOR + 132 bps | |
Basis points | 1.32% | |
Yadkin Valley Statutory Trust I [Member] | Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 25,000 | |
Yadkin Valley Statutory Trust I [Member] | Common Stock Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 774 | |
FNB Financial Services Capital Trust I [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 21,635 | |
Stated Maturity Date | Sep. 30, 2035 | |
Interest Rate | 2.59% | |
Description of variable rate | Variable; LIBOR + 146 bps | |
Basis points | 1.46% | |
FNB Financial Services Capital Trust I [Member] | Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 25,000 | |
FNB Financial Services Capital Trust I [Member] | Common Stock Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 774 | |
American Community Capital Trust II [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 10,455 | |
Stated Maturity Date | Dec. 15, 2033 | |
Interest Rate | 3.80% | |
Description of variable rate | Variable; LIBOR + 280 bps | |
Basis points | 2.80% | |
American Community Capital Trust II [Member] | Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 10,000 | |
American Community Capital Trust II [Member] | Common Stock Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | 310 | |
Crescent Financial Capital Trust I [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 8,610 | |
Stated Maturity Date | Oct. 7, 2033 | |
Interest Rate | 4.12% | |
Description of variable rate | Variable; LIBOR + 310 bps | |
Basis points | 3.10% | |
Crescent Financial Capital Trust I [Member] | Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 8,000 | |
Crescent Financial Capital Trust I [Member] | Common Stock Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Junior subordinated debt | $ 248 |
Derivative Instruments and He84
Derivative Instruments and Hedging Activities - Schedule of Notional Amounts and Gross Fair Values of Derivative Assets and Derivative Liabilities (Detail) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Derivatives, Fair Value [Line Items] | ||
Notional amount | $ 4,655,961,000 | $ 4,005,212,000 |
Fair value, asset | 32,991,000 | 54,220,000 |
Liability | 29,834,000 | 47,267,000 |
Interest Rate Lock Commitments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value, asset | 1,252,000 | |
Forward Delivery Commitments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value, asset | 20,000 | |
Credit Risk Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value, asset | 15,000 | 13,000 |
Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 2,481,886,000 | 2,140,337,000 |
Fair value, asset | 1,441,000 | 22,037,000 |
Liability | 15,460,000 | 35,217,000 |
Subject to Master Netting Arrangements [Member] | Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 655,000,000 | 450,000,000 |
Fair value, asset | 603,000 | 9,256,000 |
Liability | 1,494,000 | 1,171,000 |
Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,825,706,000 | 1,689,157,000 |
Fair value, asset | 792,000 | 12,720,000 |
Liability | 13,966,000 | 34,046,000 |
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 | 46,000 | 61,000 |
Not Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 2,174,075,000 | 1,864,875,000 |
Fair value, asset | 31,550,000 | 32,183,000 |
Liability | 14,374,000 | 12,050,000 |
Not Subject to Master Netting Arrangements [Member] | Interest Rate Lock Commitments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 76,087,000 | |
Fair value, asset | 1,252,000 | |
Liability | 26,000 | |
Not Subject to Master Netting Arrangements [Member] | Forward Delivery Commitments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 85,065,000 | |
Fair value, asset | 20,000 | |
Liability | 376,000 | |
Not Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,825,706,000 | 1,689,157,000 |
Fair value, asset | 30,263,000 | 32,170,000 |
Liability | 13,820,000 | 11,866,000 |
Not Subject to Master Netting Arrangements [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 1,180,000 | 1,180,000 |
Liability | 46,000 | 61,000 |
Not Subject to Master Netting Arrangements [Member] | Credit Risk Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 186,037,000 | 174,538,000 |
Fair value, asset | 15,000 | 13,000 |
Liability | $ 106,000 | $ 123,000 |
Derivative Instruments and He85
Derivative Instruments and Hedging Activities - Summary of Key Data Related to Interest Rate (Detail) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | $ 4,655,961,000 | $ 4,005,212,000 |
Fair value included in other assets | 32,991,000 | 54,220,000 |
Fair value included in other liabilities | 29,834,000 | 47,267,000 |
Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 655,000,000 | 450,000,000 |
Fair value included in other liabilities | 1,494,000 | 1,171,000 |
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 | 603,000 | 9,256,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 3,651,412,000 | 3,378,314,000 |
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 | 27,786,000 | 45,912,000 |
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 | $ 31,055,000 | $ 44,890,000 |
Derivative Instrument and Hedgi
Derivative Instrument and Hedging Activities - Summary of Amounts Reclassified from Accumulated Other Comprehensive Income (AOCI) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||
Reclassified from AOCI to interest expense | $ 21,941 | $ 15,400 |
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 | 506 | |
Reclassified from AOCI to interest expense | 148 | |
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 | 329 | |
Reclassified from AOCI to interest expense | $ 96 |
Derivative Instruments and He87
Derivative Instruments and Hedging Activities - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Derivative [Line Items] | |||
Notional amount | $ 4,655,961,000 | $ 4,005,212,000 | |
Additional amount in excess of posted collateral required in case of breached agreements | $ 800,000 | 1,100,000 | |
Minimum [Member] | Interest Rate Lock Commitments [Member] | |||
Derivative [Line Items] | |||
Lock in period for interest rates | 30 days | ||
Maximum [Member] | Interest Rate Lock Commitments [Member] | |||
Derivative [Line Items] | |||
Lock in period for interest rates | 90 days | ||
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 | 6 years | ||
Derivative gains to be reclassified within twelve months | $ 128,000 | ||
Derivative gains to be reclassified within twelve months, net of tax | 82,000 | ||
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 | 133,900,000 | ||
Maximum exposure under credit risk agreement assuming customer default | $ 105,000 | $ 123,000 | |
Credit Risk Contract Sold [Member] | Minimum [Member] | |||
Derivative [Line Items] | |||
Risk participation agreements, term | 8 months | ||
Credit Risk Contract Sold [Member] | Maximum [Member] | |||
Derivative [Line Items] | |||
Risk participation agreements, term | 13 years |
Derivative Instruments and He88
Derivative Instruments and Hedging Activities - Offsetting of Derivative Assets (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Derivatives, Fair Value [Line Items] | ||
Gross Amount | $ 32,991 | $ 54,220 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 32,991 | 54,220 |
Interest Rate Lock Commitments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 1,252 | |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | |
Net Amount Presented in the Balance Sheet | 1,252 | |
Forward Delivery Commitments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 20 | |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | |
Net Amount Presented in the Balance Sheet | 20 | |
Credit Risk Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 15 | 13 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 15 | 13 |
Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 1,441 | 22,037 |
Subject to Master Netting Arrangements [Member] | Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 603 | 9,256 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 603 | 9,256 |
Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 792 | 12,720 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 792 | 12,720 |
Subject to Master Netting Arrangements [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 46 | 61 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 46 | 61 |
Not Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 31,550 | 32,183 |
Not Subject to Master Netting Arrangements [Member] | Interest Rate Lock Commitments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 1,252 | |
Not Subject to Master Netting Arrangements [Member] | Forward Delivery Commitments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 20 | |
Not Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 30,263 | 32,170 |
Gross Amounts Offset in the Balance Sheet, Derivative Assets | 0 | 0 |
Net Amount Presented in the Balance Sheet | 30,263 | 32,170 |
Not Subject to Master Netting Arrangements [Member] | Credit Risk Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 15 | $ 13 |
Derivative Instruments and He89
Derivative Instruments and Hedging Activities - Offsetting of Derivative Liabilities (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Derivatives, Fair Value [Line Items] | ||
Gross Amount | $ 29,834 | $ 47,267 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 29,834 | 47,267 |
Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 15,460 | 35,217 |
Subject to Master Netting Arrangements [Member] | Interest Rate Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 1,494 | 1,171 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 1,494 | 1,171 |
Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 13,966 | 34,046 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 13,966 | 34,046 |
Not Subject to Master Netting Arrangements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Amount Presented in the Balance Sheet | 14,374 | 12,050 |
Not Subject to Master Netting Arrangements [Member] | Interest Rate Lock Commitments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 26 | |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | |
Net Amount Presented in the Balance Sheet | 26 | |
Not Subject to Master Netting Arrangements [Member] | Forward Delivery Commitments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 376 | |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | |
Net Amount Presented in the Balance Sheet | 376 | |
Not Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 13,820 | 11,866 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 13,820 | 11,866 |
Not Subject to Master Netting Arrangements [Member] | Credit Risk Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 106 | 123 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | 106 | 123 |
Not Subject to Master Netting Arrangements [Member] | Equity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Amount | 46 | 61 |
Gross Amounts Offset in the Balance Sheet, Derivative Liabilities | 0 | 0 |
Net Amount Presented in the Balance Sheet | $ 46 | $ 61 |
Derivative Instruments and He90
Derivative Instruments and Hedging Activities - Derivative Assets (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 32,991 | $ 54,220 |
Subject to Master Netting Arrangements [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 1,441 | 22,037 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 1,329 | 1,378 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 20,545 | |
Net Amount, Derivative Assets | 112 | 114 |
Subject to Master Netting Arrangements [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 603 | 9,256 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 603 | 843 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 8,413 | |
Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 792 | 12,720 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | 680 | 474 |
Gross Amounts Not Offset in the Balance Sheet Cash Collateral Received, Derivative Assets | 12,132 | |
Net Amount, Derivative Assets | 112 | 114 |
Subject to Master Netting Arrangements [Member] | Equity Contracts [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 46 | 61 |
Gross Amounts Not Offset in the Balance Sheet Financial Instruments, Derivative Assets | $ 46 | $ 61 |
Derivative Instruments and He91
Derivative Instruments and Hedging Activities - Derivative Liabilities (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | $ 29,834 | $ 47,267 |
Subject to Master Netting Arrangements [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 15,460 | 35,217 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 14,702 | 16,661 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | 17,651 | |
Net Amount, Derivative Liabilities | 758 | 905 |
Subject to Master Netting Arrangements [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 1,494 | 1,171 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 1,494 | 1,171 |
Subject to Master Netting Arrangements [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Net Amount Presented in the Balance Sheet | 13,966 | 34,046 |
Gross Amount Not Offset in the Balance Sheet Financial Instruments, Derivative Liabilities | 13,208 | 15,490 |
Gross Amount Not Offset in the Balance Sheet Cash Collateral Pledged, Derivative Liabilities | 17,651 | |
Net Amount, Derivative Liabilities | $ 758 | $ 905 |
Derivative Instruments and He92
Derivative Instruments and Hedging Activities - Effect of Derivative Financial Instruments on Income Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Interest Rate Contracts [Member] | Interest Income - Loans and Leases [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | $ 506 | $ 687 |
Interest Rate Contracts [Member] | Interest Expense - Short-term Borrowings [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | 148 | 150 |
Interest Rate Swap [Member] | Other Income [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | (219) | (41) |
Credit Risk Contracts [Member] | Other Income [Member] | ||
Derivative [Line Items] | ||
Derivative financial instrument, net | $ 19 | $ (71) |
Commitments, Credit Risk and 93
Commitments, Credit Risk and Contingencies - Summary of Off-Balance Sheet Credit Risk Information (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Commitments to Extend Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Extended credit and standby letters of credit | $ 6,278,542 | $ 4,424,834 |
Standby Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Extended credit and standby letters of credit | $ 135,120 | $ 117,732 |
Commitments, Credit Risk and 94
Commitments, Credit Risk and Contingencies - Additional Information (Detail) | Mar. 31, 2017 |
Commitments and Contingencies Disclosure [Abstract] | |
Percentage of Commitments to extend credit dependent upon the financial condition of the customers | 69.50% |
Stock Incentive Plans - Additio
Stock Incentive Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2013 | Mar. 11, 2017 | Apr. 06, 2013 | Jun. 16, 2009 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Common stock shares available under incentive compensation plans | 2,997,769 | |||||
Unrecognized compensation expense | $ 8,278 | |||||
Intrinsic value of outstanding and exercisable stock options | $ 6,000 | |||||
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 | $ 3.12 | |||||
Warrant issued | 342,564 | |||||
Warrants converted to purchase common stock | 392,475 | |||||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized compensation expense | $ 8,300 | |||||
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 | $ 3,784 | |||||
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 | 0 | 0 | ||||
Unrecognized compensation expense | $ 4,494 | |||||
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 | |||||
Warrant Expires in 2019 [Member] | Yadkin Financial Corporation (YDKN) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Warrant issued, exercise price | $ 9.63 | |||||
Warrant issued | 207,320 | |||||
Market Based Restricted Stock Awards [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Restricted stock percentage of number of units issued | 100.00% |
Stock Incentive Plans - Summary
Stock Incentive Plans - Summary of Activity Relating to Restricted Stock Awards (Detail) - $ / shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Shares, Unvested awards outstanding at beginning of period | 1,836,363 | 1,548,444 |
Shares, Vested | (243,982) | (363,799) |
Shares, Forfeited | (2,950) | (6,368) |
Shares, Dividend reinvestment | 12,253 | 10,870 |
Shares, Unvested awards outstanding at end of period | 1,601,684 | 1,189,147 |
Weighted Average Grant Price, Unvested awards outstanding at beginning of period | $ 12.97 | $ 12.85 |
Weighted Average Grant Price, Vested | 11.83 | 12.07 |
Weighted Average Grant Price, Forfeited | 13 | 12.79 |
Weighted Average Grant Price, Dividend reinvestment | 14.54 | 11.50 |
Weighted Average Grant Price, Unvested awards outstanding at end of period | $ 13.16 | $ 13.08 |
Stock Incentive Plans - Schedul
Stock Incentive Plans - Schedule of Certain Information Related to Restricted Stock Awards (Detail) - Restricted Stock [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | $ 1,760 | $ 1,136 |
Tax benefit related to stock-based compensation expense | 616 | 398 |
Fair value of awards vested | $ 3,802 | $ 4,424 |
Stock Incentive Plans - Compone
Stock Incentive Plans - Components of Restricted Stock Awards (Detail) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested restricted stock awards | 1,601,684 | 1,836,363 | 1,189,147 | 1,548,444 |
Unrecognized compensation expense | $ 8,278 | |||
Intrinsic value | $ 23,817 | |||
Weighted average remaining life (in years) | 1 year 9 months | |||
Service-Based Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested restricted stock awards | 830,140 | |||
Unrecognized compensation expense | $ 3,784 | |||
Intrinsic value | $ 12,344 | |||
Weighted average remaining life (in years) | 1 year 8 months 19 days | |||
Performance-Based Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested restricted stock awards | 771,544 | |||
Unrecognized compensation expense | $ 4,494 | |||
Intrinsic value | $ 11,473 | |||
Weighted average remaining life (in years) | 1 year 9 months 7 days |
Stock Incentive Plans - Summa99
Stock Incentive Plans - Summary of Activity Relating to Stock Options Awards (Detail) - $ / shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Shares, Options outstanding at beginning of period | 892,532 | 435,340 |
Shares, Assumed from acquisitions | 207,645 | 1,707,036 |
Shares, Exercised | (131,792) | (24,806) |
Shares, Forfeited | (49,281) | (92,650) |
Shares, Options outstanding and exercisable at end of period | 919,104 | 2,024,920 |
Weighted Average Exercise Price, Options outstanding at beginning of period | $ 8.95 | $ 8.86 |
Weighted Average Exercise Price, Assumed from acquisitions | 8.92 | 7.83 |
Weighted Average Exercise Price, Exercised | 9.44 | 6.38 |
Weighted Average Exercise Price, Forfeited | 10.91 | 6.69 |
Weighted Average Exercise Price, Options outstanding and exercisable at end of period | $ 8.77 | $ 8.12 |
Retirement Plans - Additional I
Retirement Plans - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2017 | |
Retirement Plans Disclosure [Abstract] | |
Percent of employer match | 100.00% |
Employee contribution percentage | 6.00% |
Additional discretionary contribution, annual financial goals, percentage | 3.00% |
Retirement Plans - Schedule of
Retirement Plans - Schedule of Contribution Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | ||
401(k) contribution expense | $ 2,767 | $ 2,462 |
Retirement Plans - Net Periodic
Retirement Plans - Net Periodic Benefit Credit for Defined Benefit Plans (Detail) - Defined Benefit Plans [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $ (4) | $ (4) |
Interest cost | 1,477 | 1,544 |
Expected return on plan assets | (2,427) | (2,353) |
Amortization: | ||
Unrecognized prior service cost | 2 | 2 |
Unrecognized loss | 628 | 608 |
Net periodic pension credit | $ (324) | $ (203) |
Other Comprehensive Income - Ch
Other Comprehensive Income - Changes in AOCI, Net of Tax, by Component (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income (loss), balance at beginning of period | $ (61,369) | |
Other comprehensive income before reclassifications | 5,420 | |
Amounts reclassified from AOCI | (1,020) | |
Net current period other comprehensive income | 4,400 | $ 17,482 |
Accumulated other comprehensive income (loss), balance at end of period | (56,969) | |
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 | (18,222) | |
Other comprehensive income before reclassifications | 6,032 | |
Amounts reclassified from AOCI | (787) | |
Net current period other comprehensive income | 5,245 | |
Accumulated other comprehensive income (loss), balance at end of period | (12,977) | |
Unrealized Net Gains (Losses) on Derivative Instruments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income (loss), balance at beginning of period | 5,254 | |
Other comprehensive income before reclassifications | (1,022) | |
Amounts reclassified from AOCI | (233) | |
Net current period other comprehensive income | (1,255) | |
Accumulated other comprehensive income (loss), balance at end of period | 3,999 | |
Unrecognized Pension and Postretirement Obligations [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income (loss), balance at beginning of period | (48,401) | |
Other comprehensive income before reclassifications | 410 | |
Net current period other comprehensive income | 410 | |
Accumulated other comprehensive income (loss), balance at end of period | $ (47,991) |
Earnings Per Common Share - Com
Earnings Per Common Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings Per Share [Abstract] | ||
Net income | $ 22,979 | $ 26,132 |
Less: Preferred stock dividends | 2,010 | 2,010 |
Net income available to common stockholders | $ 20,969 | $ 24,122 |
Basic weighted average common shares outstanding | 237,379,260 | 193,585,702 |
Net effect of dilutive stock options, warrants and restricted stock | 1,875,389 | 1,292,220 |
Diluted weighted average common shares outstanding | 239,254,649 | 194,877,922 |
Basic | $ 0.09 | $ 0.12 |
Diluted | $ 0.09 | $ 0.12 |
Earnings Per Common Share - Sch
Earnings Per Common Share - Schedule of Average Shares Excluded from Diluted Earnings Per Common Share Calculation (Detail) - shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings Per Share [Abstract] | ||
Average shares excluded from the diluted earnings per common share calculation | 81,755 | 15,501 |
Cash Flow Information - Summary
Cash Flow Information - Summary of Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Statement of Cash Flows [Abstract] | ||
Interest paid on deposits and other borrowings | $ 18,606 | $ 13,794 |
Income taxes paid | 0 | 0 |
Transfers of loans to other real estate owned | $ 20,517 | 8,049 |
Financing of other real estate owned sold | $ 62 |
Business Segments - Additional
Business Segments - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2017Segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 4 |
Business Segments - Financial I
Business Segments - Financial Information for Segments of FNB (Detail) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | ||
Segment Reporting Information [Line Items] | ||||
Interest income | $ 194,693 | $ 155,754 | ||
Interest expense | 21,941 | 15,400 | ||
Net interest income | 172,752 | 140,354 | ||
Provision for credit losses | 10,850 | 11,768 | ||
Non-interest income | 55,116 | 46,044 | ||
Non-interest expense | [1] | 184,457 | 133,999 | |
Amortization of intangibles | 3,098 | 2,649 | ||
Income tax expense (benefit) | 6,484 | 11,850 | ||
Net income (loss) | 22,979 | 26,132 | ||
Total assets | 30,190,695 | 20,324,524 | $ 21,844,817 | |
Total intangibles | 2,385,004 | 1,087,050 | ||
Operating Segments [Member] | Community Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 182,358 | 143,978 | ||
Interest expense | 18,865 | 12,594 | ||
Net interest income | 163,493 | 131,384 | ||
Provision for credit losses | 8,198 | 9,917 | ||
Non-interest income | 41,384 | 31,233 | ||
Non-interest expense | [1] | 167,393 | 118,048 | |
Amortization of intangibles | 2,982 | 2,441 | ||
Income tax expense (benefit) | 6,148 | 10,117 | ||
Net income (loss) | 20,156 | 22,094 | ||
Total assets | 30,007,404 | 20,151,815 | ||
Total intangibles | 2,360,557 | 1,062,079 | ||
Operating Segments [Member] | Wealth Management [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Non-interest income | 9,549 | 8,816 | ||
Non-interest expense | [1] | 7,540 | 7,089 | |
Amortization of intangibles | 61 | 65 | ||
Income tax expense (benefit) | 711 | 605 | ||
Net income (loss) | 1,237 | 1,057 | ||
Total assets | 22,130 | 20,540 | ||
Total intangibles | 10,353 | 10,383 | ||
Operating Segments [Member] | Insurance [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 20 | 22 | ||
Net interest income | 20 | 22 | ||
Non-interest income | 4,325 | 4,194 | ||
Non-interest expense | [1] | 3,315 | 3,301 | |
Amortization of intangibles | 55 | 143 | ||
Income tax expense (benefit) | 347 | 275 | ||
Net income (loss) | 628 | 497 | ||
Total assets | 20,514 | 21,680 | ||
Total intangibles | 12,285 | 12,779 | ||
Operating Segments [Member] | Consumer Finance [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 9,902 | 9,785 | ||
Interest expense | 922 | 941 | ||
Net interest income | 8,980 | 8,844 | ||
Provision for credit losses | 1,786 | 1,526 | ||
Non-interest income | 710 | 716 | ||
Non-interest expense | [1] | 5,231 | 5,204 | |
Income tax expense (benefit) | 1,067 | 1,112 | ||
Net income (loss) | 1,606 | 1,718 | ||
Total assets | 184,006 | 188,547 | ||
Total intangibles | 1,809 | 1,809 | ||
Parent and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 2,413 | 1,969 | ||
Interest expense | 2,154 | 1,865 | ||
Net interest income | 259 | 104 | ||
Provision for credit losses | 866 | 325 | ||
Non-interest income | (852) | 1,085 | ||
Non-interest expense | [1] | 978 | 357 | |
Income tax expense (benefit) | (1,789) | (259) | ||
Net income (loss) | (648) | 766 | ||
Total assets | $ (43,359) | $ (58,058) | ||
[1] | Excludes amortization of intangibles, which is presented separately. |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Fair Value Measurements Disclosure [Line Items] | |||
Percentage of securities using market-based information | 99.50% | ||
Percentage of securities using model-based techniques | 0.50% | ||
Minimum reserves for commercial loan | $ 500,000 | ||
Impaired loans, carrying amount | 95,374,000 | $ 81,853,000 | |
Allocated allowance for loan losses | 7,200,000 | ||
Fair value of allocated allowance | 8,800,000 | ||
Estimated costs to sell | 200,000 | ||
Provision for fair value measurements included in allowance for loan losses | 6,400,000 | ||
Carrying amount of OREO | 2,000,000 | ||
Written down of OREO | 1,600,000 | ||
Fair value of OREO | 1,800,000 | ||
Estimated cost to sell OREO | 200,000 | ||
Loss from OREO included in earnings | $ 400,000 | ||
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 | $ 15,700,000 | ||
Allocated allowance for loan losses | 8,765,000 | 6,383,000 | |
Fair value of OREO | 1,842,000 | $ 14,198,000 | |
Equity Securities [Member] | |||
Fair Value Measurements Disclosure [Line Items] | |||
Transfer of equity security to non-marketable equity securities, included in other assets | 600,000 | ||
Other Debt Securities [Member] | Yadkin Financial Corporation (YDKN) [Member] | |||
Fair Value Measurements Disclosure [Line Items] | |||
Business acquisition | 12,000,000 | ||
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 | Mar. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Measured at Fair Value, Securities available for sale | $ 2,638,815 | $ 2,231,987 | |
Loans held for sale | [1] | 11,121 | 0 |
Derivative assets | 32,991 | 54,220 | |
Derivative financial instruments | 29,834 | 47,267 | |
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 | 29,945 | 29,953 | |
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 | 395,206 | 365,098 | |
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 | 503,963 | 535,974 | |
Assets Measured at Fair Value, Securities available for sale | 503,963 | ||
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 | 2 | 897 | |
Assets Measured at Fair Value, Securities available for sale | 2 | ||
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 | 419 | 1,291 | |
Assets Measured at Fair Value, Securities available for sale | 419 | ||
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 | 34,678 | 35,849 | |
Other Debt 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 | 21,594 | 9,487 | |
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 | 3,881 | 148 | |
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 | 2,622,887 | 2,230,453 | |
Derivative assets | 31,739 | 54,220 | |
Derivative financial instruments | 29,834 | 47,267 | |
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 | 12,047 | 1,386 | |
Derivative assets | 1,252 | ||
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 | 2,628,821 | 2,231,347 | |
Assets Measured at Fair Value, Equity securities available for sale | 9,994 | 640 | |
Assets Measured at Fair Value, Securities available for sale | 2,638,815 | 2,231,987 | |
Loans held for sale | 11,121 | ||
Derivative assets | 32,991 | 54,220 | |
Assets measured at fair value on a recurring basis, Total | 2,682,927 | 2,286,207 | |
Derivative financial instruments | 29,834 | 47,267 | |
Liabilities measured at fair value on a recurring basis, Total | 29,834 | 47,267 | |
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 | 29,945 | 29,953 | |
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 | 395,206 | 365,098 | |
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 | 503,963 | 535,974 | |
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 | 2 | 897 | |
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 | 419 | 1,291 | |
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 | 34,678 | 35,849 | |
Fair Value, Measurements, Recurring [Member] | Other Debt 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 | 21,594 | 9,487 | |
Fair Value, Measurements, Recurring [Member] | Trading Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 31,101 | 44,951 | |
Fair Value, Measurements, Recurring [Member] | Not for Trading Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 1,890 | 9,269 | |
Fair Value, Measurements, Recurring [Member] | Fixed Income Mutual Fund [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Measured at Fair Value, Equity securities available for sale | 9,076 | ||
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 | 760 | 492 | |
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 | 158 | 148 | |
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 | 1,643,014 | 1,252,798 | |
Fair Value, Measurements, Recurring [Member] | Trading Liabilities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative financial instruments | 27,832 | 45,973 | |
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 | 2,002 | 1,294 | |
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 | 3,881 | 148 | |
Assets Measured at Fair Value, Securities available for sale | 3,881 | 148 | |
Assets measured at fair value on a recurring basis, Total | 3,881 | 148 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Fixed Income Mutual Fund [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Measured at Fair Value, Equity securities available for sale | 3,723 | ||
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 | 158 | 148 | |
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 | 2,616,774 | 2,230,453 | |
Assets Measured at Fair Value, Equity securities available for sale | 6,113 | ||
Assets Measured at Fair Value, Securities available for sale | 2,622,887 | 2,230,453 | |
Loans held for sale | 11,121 | ||
Derivative assets | 31,739 | 54,220 | |
Assets measured at fair value on a recurring basis, Total | 2,665,747 | 2,284,673 | |
Derivative financial instruments | 29,834 | 47,267 | |
Liabilities measured at fair value on a recurring basis, Total | 29,834 | 47,267 | |
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 | 29,945 | 29,953 | |
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 | 395,206 | 365,098 | |
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 | 503,963 | 535,974 | |
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 | 2 | 3 | |
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 | 419 | 1,291 | |
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 | 34,678 | 35,849 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other Debt 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 | 9,547 | 9,487 | |
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 | 31,101 | 44,951 | |
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 | 638 | 9,269 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Fixed Income Mutual Fund [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Measured at Fair Value, Equity securities available for sale | 5,353 | ||
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 | 760 | ||
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 | 1,643,014 | 1,252,798 | |
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 | 27,832 | 45,973 | |
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 | 2,002 | 1,294 | |
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 | 12,047 | 894 | |
Assets Measured at Fair Value, Equity securities available for sale | 492 | ||
Assets Measured at Fair Value, Securities available for sale | 12,047 | 1,386 | |
Derivative assets | 1,252 | ||
Assets measured at fair value on a recurring basis, Total | 13,299 | 1,386 | |
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 | ||
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Other Debt 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 | 12,047 | ||
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Not for Trading Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | $ 1,252 | ||
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 | ||
[1] | Amount represents loans for which we have elected the fair value option. See Note 17. |
Fair Value Measurements - Ad111
Fair Value Measurements - Additional Information about Assets Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance at beginning of period | $ 1,386 | $ 1,623 |
Total gains (losses) - realized/unrealized, Included in earnings | 4 | |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | 80 | 46 |
Accretion included in earnings | 6 | |
Purchases | 12,048 | |
Issuances | 0 | 0 |
Sales/redemptions | (874) | |
Settlements | (19) | (289) |
Transfers from Level 3 | (578) | |
Transfers into Level 3 | 1,252 | |
Balance at end of period | 13,299 | 1,386 |
Other Debt Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Accretion included in earnings | (1) | |
Purchases | 12,048 | |
Issuances | 0 | 0 |
Balance at end of period | 12,047 | |
Equity Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance at beginning of period | 492 | 439 |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | 86 | 53 |
Issuances | 0 | 0 |
Transfers from Level 3 | (578) | |
Balance at end of period | 492 | |
Residential Non-Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance at beginning of period | 894 | 1,184 |
Total gains (losses) - realized/unrealized, Included in earnings | 4 | |
Total gains (losses) - realized/unrealized, Included in other comprehensive income | (6) | (7) |
Accretion included in earnings | 1 | 6 |
Issuances | 0 | 0 |
Sales/redemptions | (874) | |
Settlements | (19) | (289) |
Balance at end of period | 894 | |
Interest Rate Lock Commitments [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Issuances | 0 | $ 0 |
Transfers into Level 3 | 1,252 | |
Balance at end of period | $ 1,252 |
Fair Value Measurements - Ad112
Fair Value Measurements - Additional Information about Assets Measured at Fair Value on Non-Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 7,200 | |
Other real estate owned | 1,800 | |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 8,765 | $ 6,383 |
Other real estate owned | 1,842 | 14,198 |
Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 1,812 | 500 |
Other real estate owned | 643 | 11,017 |
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 6,953 | 5,883 |
Other real estate owned | $ 1,199 | $ 3,181 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Values of Corporation's Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Cash and cash equivalents | $ 450,383 | $ 371,407 | $ 345,945 | $ 489,119 | |
Securities available for sale | 2,638,815 | 2,231,987 | |||
Securities held to maturity | 2,922,152 | 2,337,342 | |||
Securities held to maturity | 2,886,897 | 2,294,777 | |||
Derivative assets | 32,991 | 54,220 | |||
Deposits | 21,326,272 | 16,065,647 | |||
Short-term borrowings | 3,585,963 | 2,503,010 | |||
Long-term borrowings | 696,206 | 539,494 | |||
Derivative liabilities | 29,834 | 47,267 | |||
Carrying Amount [Member] | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Cash and cash equivalents | 450,383 | 371,407 | |||
Securities available for sale | 2,638,815 | 2,231,987 | |||
Securities held to maturity | 2,922,152 | 2,337,342 | |||
Net loans and leases | [1] | 20,092,138 | 14,750,792 | ||
Loan servicing rights | 28,205 | 13,521 | |||
Derivative assets | 32,991 | 54,220 | |||
Accrued interest receivable | 77,638 | 58,712 | |||
Deposits | 21,326,272 | 16,065,647 | |||
Short-term borrowings | 3,585,963 | 2,503,010 | |||
Long-term borrowings | 696,206 | 539,494 | |||
Derivative liabilities | 29,834 | 47,267 | |||
Accrued interest payable | 10,947 | 7,612 | |||
Fair Value [Member] | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Cash and cash equivalents | 450,383 | 371,407 | |||
Securities available for sale | 2,638,815 | 2,231,987 | |||
Securities held to maturity | 2,886,897 | 2,294,777 | |||
Net loans and leases | [1] | 19,823,712 | 14,446,274 | ||
Loan servicing rights | 32,301 | 17,546 | |||
Derivative assets | 32,991 | 54,220 | |||
Accrued interest receivable | 77,638 | 58,712 | |||
Deposits | 21,298,707 | 16,045,323 | |||
Short-term borrowings | 3,586,486 | 2,503,277 | |||
Long-term borrowings | 688,209 | 536,088 | |||
Derivative liabilities | 29,834 | 47,267 | |||
Accrued interest payable | 10,947 | 7,612 | |||
Level 1 [Member] | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Cash and cash equivalents | 450,383 | 371,407 | |||
Securities available for sale | 3,881 | 148 | |||
Accrued interest receivable | 77,638 | 58,712 | |||
Deposits | 17,446,603 | 13,489,152 | |||
Short-term borrowings | 3,586,486 | 2,503,277 | |||
Accrued interest payable | 10,947 | 7,612 | |||
Level 2 [Member] | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Securities available for sale | 2,622,887 | 2,230,453 | |||
Securities held to maturity | 2,886,897 | 2,293,091 | |||
Net loans and leases | [1] | 11,121 | |||
Derivative assets | 31,739 | 54,220 | |||
Deposits | 3,852,104 | 2,556,171 | |||
Derivative liabilities | 29,834 | 47,267 | |||
Level 3 [Member] | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Securities available for sale | 12,047 | 1,386 | |||
Securities held to maturity | 1,686 | ||||
Net loans and leases | [1] | 19,812,591 | 14,464,274 | ||
Loan servicing rights | 32,301 | 17,546 | |||
Derivative assets | 1,252 | ||||
Long-term borrowings | $ 688,209 | $ 536,088 | |||
[1] | Includes loans held for sale. |