Document and Entity Information
Document and Entity Information | 9 Months Ended |
Sep. 30, 2015shares | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | HUNTINGTON BANCSHARES INC/MD |
Entity Central Index Key | 49,196 |
Document Type | 10-Q |
Document Period End Date | Sep. 30, 2015 |
Amendment Flag | false |
Document Fiscal Year Focus | 2,015 |
Document Fiscal Period Focus | Q3 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding (in shares) | 796,659,440 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Assets | |||
Cash and due from banks | $ 1,024,358 | $ 1,220,565 | |
Interest-bearing deposits in banks | 65,805 | 64,559 | |
Trading account securities | 38,609 | 42,191 | |
Loans held for sale (includes $393,473 and $354,888 respectively, measured at fair value) (1) | 675,636 | 416,327 | |
Available-for-sale and other securities | 11,094,868 | 9,384,670 | |
Held-to-maturity securities | 3,157,688 | 3,379,905 | |
Loans and leases (includes $36,582 and $50,617 respectively, measured at fair value) (1) | [1] | 49,655,909 | 47,655,726 |
Allowance for loan and lease losses | (591,938) | (605,196) | |
Net loans and leases | 49,063,971 | 47,050,530 | |
Bank owned life insurance | 1,748,328 | 1,718,436 | |
Premises and equipment | 620,515 | 616,407 | |
Goodwill | 676,869 | 522,541 | |
Other intangible assets | 58,793 | 74,671 | |
Accrued income and other assets | 1,984,738 | 1,807,208 | |
Total assets | 70,210,178 | 66,298,010 | |
Liabilities | |||
Deposits | 54,244,711 | 51,732,151 | |
Short-term borrowings | 1,453,812 | 2,397,101 | |
Long-term debt | 6,359,445 | 4,335,962 | |
Accrued expenses and other liabilities | 1,569,573 | 1,504,626 | |
Total liabilities | 63,627,541 | 59,969,840 | |
Shareholders’ equity | |||
Common stock | 7,987 | 8,131 | |
Capital surplus | 7,053,902 | 7,221,745 | |
Less treasury shares, at cost | (17,464) | (13,382) | |
Accumulated other comprehensive loss | (139,739) | (222,292) | |
Retained (deficit) earnings | (708,341) | (1,052,324) | |
Total shareholders’ equity | 6,582,637 | 6,328,170 | |
Total liabilities and shareholders’ equity | $ 70,210,178 | $ 66,298,010 | |
Common shares authorized (par value of $0.01) (in shares) | 1,500,000,000 | 1,500,000,000 | |
Common shares issued (in shares) | 798,663,649 | 813,136,321 | |
Common shares outstanding (in shares) | 796,659,440 | 811,454,676 | |
Treasury shares outstanding (in shares) | 2,004,209 | 1,681,645 | |
Preferred shares issued (in shares) | 1,967,071 | 1,967,071 | |
Preferred shares outstanding (in shares) | 398,007 | 398,007 | |
Series A Preferred Stock | |||
Shareholders’ equity | |||
Preferred stock | $ 362,507 | $ 362,507 | |
Total shareholders’ equity | 362,507 | 362,507 | |
Series B Preferred Stock Variable | |||
Shareholders’ equity | |||
Preferred stock | 23,785 | 23,785 | |
Total shareholders’ equity | $ 23,785 | $ 23,785 | |
[1] | (1)Amounts represent loans for which Huntington has elected the fair value option. |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Assets | ||
Loans held for sale, fair value | $ 393,473 | $ 354,888 |
Loans and leases, fair value | $ 36,582 | $ 50,617 |
Shareholders’ equity | ||
Preferred stock, authorized shares (in shares) | 6,617,808 | 6,617,808 |
Preferred Stock, fixed rate | 8.50% | 8.50% |
Common stock, par value | $ 0.01 | $ 0.01 |
Series A Preferred Stock | ||
Shareholders’ equity | ||
Preferred Stock, par value | 0.01 | 0.01 |
Preferred Stock, liquidation value per share | 1,000 | 1,000 |
Series B Preferred Stock Variable | ||
Shareholders’ equity | ||
Preferred Stock, par value | 0.01 | 0.01 |
Preferred Stock, liquidation value per share | $ 1,000 | $ 1,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Interest and fee income: | ||||
Loans and leases | $ 451,161 | $ 424,658 | $ 1,308,339 | $ 1,248,104 |
Available-for-sale and other securities | ||||
Taxable | 52,141 | 43,065 | 151,522 | 123,549 |
Tax-exempt | 10,835 | 7,959 | 30,441 | 20,049 |
Held-to-maturity securities—taxable | 19,811 | 21,777 | 61,220 | 67,711 |
Other | 4,529 | 3,601 | 18,846 | 9,424 |
Total interest income | 538,477 | 501,060 | 1,570,368 | 1,468,837 |
Interest expense: | ||||
Deposits | 20,964 | 20,461 | 60,396 | 66,244 |
Short-term borrowings | 192 | 878 | 1,465 | 2,122 |
Federal Home Loan Bank advances | 69 | 395 | 517 | 647 |
Subordinated notes and other long-term debt | 21,797 | 12,991 | 54,164 | 35,935 |
Total interest expense | 43,022 | 34,725 | 116,542 | 104,948 |
Net interest income | 495,455 | 466,335 | 1,453,826 | 1,363,889 |
Provision for credit losses | 22,476 | 24,480 | 63,486 | 78,495 |
Net interest income after provision for credit losses | 472,979 | 441,855 | 1,390,340 | 1,285,394 |
Service charges on deposit accounts | 75,157 | 69,118 | 207,495 | 206,333 |
Trust services | 24,972 | 28,045 | 80,561 | 87,191 |
Electronic banking | 30,832 | 27,275 | 88,489 | 77,408 |
Mortgage banking income | 18,956 | 25,051 | 80,435 | 70,857 |
Brokerage income | 15,059 | 17,155 | 45,743 | 52,227 |
Insurance income | 16,204 | 16,729 | 49,736 | 49,221 |
Bank owned life insurance income | 12,719 | 14,888 | 38,959 | 42,060 |
Capital markets fees | 12,741 | 10,246 | 39,838 | 29,940 |
Gain on sale of loans | 5,873 | 8,199 | 22,915 | 15,683 |
Net gains on sales of securities | 2,628 | 198 | 2,710 | 17,658 |
Other noninterest income | 40,418 | 30,445 | 112,074 | 97,323 |
Total noninterest income | 253,119 | 247,349 | 766,515 | 745,901 |
Personnel costs | 286,270 | 275,409 | 833,321 | 785,486 |
Outside data processing and other services | 58,535 | 53,073 | 167,578 | 158,901 |
Net occupancy | 29,061 | 34,405 | 88,942 | 96,511 |
Equipment | 31,303 | 30,183 | 93,246 | 87,682 |
Professional services | 11,961 | 13,763 | 37,281 | 43,890 |
Marketing | 12,179 | 12,576 | 40,178 | 38,094 |
Deposit and other insurance expense | 11,550 | 11,628 | 33,504 | 35,945 |
Amortization of intangibles | 3,913 | 9,813 | 24,079 | 28,624 |
Other noninterest expense | 81,736 | 39,468 | 159,013 | 123,942 |
Total noninterest expense | 526,508 | 480,318 | 1,477,142 | 1,399,075 |
Income before income taxes | 199,590 | 208,886 | 679,713 | 632,220 |
Provision for income taxes | 47,002 | 53,870 | 165,065 | 163,442 |
Net income (loss) | 152,588 | 155,016 | 514,648 | 468,778 |
Dividends on preferred shares | 7,968 | 7,964 | 23,901 | 23,891 |
Net income applicable to common shares | $ 144,620 | $ 147,052 | $ 490,747 | $ 444,887 |
Average common shares—basic (in shares) | 800,883 | 816,497 | 805,851 | 820,884 |
Average common shares—diluted (in shares) | 814,326 | 829,623 | 819,458 | 833,927 |
Per common share: | ||||
Net income—basic (in usd per share) | $ 0.18 | $ 0.18 | $ 0.61 | $ 0.54 |
Net income—diluted (in usd per share) | 0.18 | 0.18 | 0.60 | 0.53 |
Cash dividends declared (in usd per share) | $ 0.0006 | $ 0.0005 | $ 0.0018 | $ 0.0015 |
OTTI losses for the periods presented: | ||||
Total OTTI losses | $ (3,144) | $ 0 | $ (3,144) | $ 0 |
Noncredit-related portion of loss recognized in OCI | 704 | 0 | 704 | 0 |
Impairment losses recognized in earnings on available-for-sale securities | $ (2,440) | $ 0 | $ (2,440) | $ 0 |
Condensed Consolidated Stateme5
Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 152,588 | $ 155,016 | $ 514,648 | $ 468,778 |
Unrealized gains on available-for-sale and other securities: | ||||
Non-credit-related impairment recoveries on debt securities not expected to be sold | 85 | 2,126 | 12,195 | 7,724 |
Unrealized net gains (losses) on available-for-sale and other securities arising during the period, net of reclassification for net realized gains | 39,721 | (8,918) | 44,861 | 21,483 |
Total unrealized gains (losses) on available-for-sale and other securities | 39,806 | (6,792) | 57,056 | 29,207 |
Unrealized gains (losses) on cash flow hedging derivatives | 8,254 | (21,229) | 25,840 | (4,100) |
Change in accumulated unrealized losses for pension and other post-retirement obligations | (2,148) | 5,732 | (343) | 6,886 |
Other comprehensive income (loss), net of tax | 45,912 | (22,289) | 82,553 | 31,993 |
Comprehensive income | $ 198,500 | $ 132,727 | $ 597,201 | $ 500,771 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock | Capital Surplus | Treasury Stock | Accumulated Other Comprehensive Loss | Retained Earnings (Deficit) | Series A Preferred Stock | Series A Preferred StockRetained Earnings (Deficit) | Series B Preferred Stock Variable | Series B Preferred Stock VariableRetained Earnings (Deficit) |
Balance, beginning of period (in shares) at Dec. 31, 2013 | 832,217 | (1,331) | 363 | 35 | ||||||
Balance, beginning of period at Dec. 31, 2013 | $ 6,090,153 | $ 8,322 | $ 7,398,515 | $ (9,643) | $ (214,009) | $ (1,479,324) | $ 362,507 | $ 23,785 | ||
Comprehensive Income: | ||||||||||
Net income | 468,778 | 468,778 | ||||||||
Other comprehensive income (loss) | 31,993 | 31,993 | ||||||||
Shares issued pursuant to acquisition (in shares) | 8,694 | |||||||||
Shares issued to HIP (in shares) | 276 | |||||||||
Shares issued to HIP | $ 2,597 | $ 3 | 2,594 | |||||||
Repurchase of common stock (in shares) | (32,100) | (32,103) | ||||||||
Repurchase of common stock | $ 299,720 | $ (321) | (299,399) | |||||||
Cash dividends declared: | ||||||||||
Common stock, dividend | (122,984) | (122,984) | ||||||||
Preferred stock, dividend | (23,110) | $ (23,110) | $ (781) | $ (781) | ||||||
Share-based compensation expense | 33,656 | 33,656 | ||||||||
Other share-based compensation activity (in shares) | 6,162 | |||||||||
Other share-based compensation activity | 13,249 | $ 62 | 14,897 | |||||||
Other share based compensation activity, dividends | (1,710) | |||||||||
Other (in shares) | 846 | (307) | ||||||||
Other | (1,285) | $ 8 | 2,039 | $ (3,295) | (37) | |||||
Balance, end of period (in shares) at Sep. 30, 2014 | 816,092 | (1,638) | 363 | 35 | ||||||
Balance, end of period at Sep. 30, 2014 | 6,284,210 | $ 8,161 | 7,243,879 | $ (12,938) | (182,016) | (1,159,168) | $ 362,507 | $ 23,785 | ||
Comprehensive Income: | ||||||||||
Shares issued pursuant to acquisition | 91,664 | $ 87 | 91,577 | |||||||
Balance, beginning of period (in shares) at Dec. 31, 2014 | 813,136 | (1,682) | 363 | 35 | ||||||
Balance, beginning of period at Dec. 31, 2014 | 6,328,170 | $ 8,131 | 7,221,745 | $ (13,382) | (222,292) | (1,052,324) | $ 362,507 | $ 23,785 | ||
Comprehensive Income: | ||||||||||
Net income | 514,648 | 514,648 | ||||||||
Other comprehensive income (loss) | $ 82,553 | 82,553 | ||||||||
Repurchase of common stock (in shares) | (20,500) | (20,547) | ||||||||
Repurchase of common stock | $ 222,983 | $ (205) | (222,778) | |||||||
Cash dividends declared: | ||||||||||
Common stock, dividend | (144,527) | (144,527) | ||||||||
Preferred stock, dividend | (23,110) | $ (23,110) | $ (791) | $ (791) | ||||||
Share-based compensation expense | 39,136 | 39,136 | ||||||||
Other share-based compensation activity (in shares) | 5,990 | |||||||||
Other share-based compensation activity | 12,830 | $ 60 | 14,990 | |||||||
Other share based compensation activity, dividends | (2,220) | |||||||||
Other (in shares) | 85 | (322) | ||||||||
Other | (3,289) | $ 1 | 809 | $ (4,082) | (17) | |||||
Balance, end of period (in shares) at Sep. 30, 2015 | 798,664 | (2,004) | 363 | 35 | ||||||
Balance, end of period at Sep. 30, 2015 | $ 6,582,637 | $ 7,987 | $ 7,053,902 | $ (17,464) | $ (139,739) | $ (708,341) | $ 362,507 | $ 23,785 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash dividends declared: | ||
Common stock, Cash dividend per share | $ 0.0018 | $ 0.0015 |
Series A Preferred Stock | ||
Cash dividends declared: | ||
Preferred stock dividend per share | 63.75 | 63.75 |
Series B Preferred Stock Variable | ||
Cash dividends declared: | ||
Preferred stock dividend per share | $ 22.32 | $ 22 |
Condensed Consolidated Stateme8
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Operating activities | ||
Net income | $ 514,648 | $ 468,778 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Impairment of goodwill | 0 | 3,000 |
Provision for credit losses | 63,486 | 78,495 |
Depreciation and amortization | 262,788 | 238,974 |
Share-based compensation expense | 39,136 | 33,656 |
Net gain on sales of securities | (270) | (17,658) |
Net change in: | ||
Trading account securities | 3,582 | (30,887) |
Increase (Decrease) in Loans Held-for-sale | 267,494 | 61,895 |
Accrued income and other assets | (215,692) | (157,163) |
Deferred income taxes | 10,957 | 12,266 |
Accrued expense and other liabilities | 10,344 | 61,660 |
Other, net | (20,659) | 0 |
Net cash provided by (used for) operating activities | 400,826 | 629,226 |
Investing activities | ||
Change in interest bearing deposits in banks | (1,246) | (15,855) |
Cash paid for acquisition of a business, net of cash received | (457,836) | 691,637 |
Proceeds from: | ||
Maturities and calls of available-for-sale and other securities | 1,477,446 | 1,056,833 |
Maturities of held-to-maturity securities | 434,192 | 337,175 |
Sales of available-for-sale and other securities | 151,326 | 1,093,176 |
Purchases of available-for-sale and other securities | (3,272,586) | (3,436,111) |
Purchases of held-to-maturity securities | (215,447) | 0 |
Net proceeds from securitization | 780,117 | 0 |
Net proceeds from sales of portfolio loans | 307,726 | 254,663 |
Net loan and lease activity, excluding sales and purchases | (2,181,839) | (3,229,382) |
Proceeds from sale of operating lease assets | 0 | 362 |
Purchases of premises and equipment | (69,021) | (31,559) |
Proceeds from sales of other real estate | 28,056 | 29,741 |
Purchases of loans and leases | (241,141) | (286,819) |
Purchase of customer list | 0 | (946) |
Other, net | 581 | 3,495 |
Net cash provided by (used for) investing activities | (3,259,672) | (3,533,590) |
Financing activities | ||
Increase (decrease) in deposits | 2,616,219 | 1,321,398 |
Increase (decrease) in short-term borrowings | (966,928) | 833,741 |
Sale of deposits | (47,521) | 0 |
Proceeds from issuance of long-term debt | 2,327,041 | 1,255,499 |
Maturity/redemption of long-term debt | (895,441) | (204,346) |
Dividends paid on preferred stock | (23,901) | (23,891) |
Dividends paid on common stock | (145,572) | (121,253) |
Repurchase of common stock | (222,983) | (299,720) |
Proceeds from stock options exercised | 4,647 | 16,700 |
Net proceeds from issuance of common stock | 0 | 2,597 |
Other, net | 17,078 | 2,369 |
Net cash provided by (used for) financing activities | 2,662,639 | 2,783,094 |
Increase (decrease) in cash and cash equivalents | (196,207) | (121,270) |
Cash and cash equivalents at beginning of period | 1,220,565 | 1,001,132 |
Cash and cash equivalents at end of period | 1,024,358 | 879,862 |
Supplemental disclosures: | ||
Income taxes paid (refunded) | 117,225 | 87,454 |
Interest paid | 54,409 | 98,080 |
Non-cash activities | ||
Loans transferred to held-for-sale from portfolio | 347,656 | 85,022 |
Loans transferred to portfolio from held-for-sale | 16,425 | 45,240 |
Transfer of loans to OREO | 17,789 | 30,721 |
Dividends accrued, paid in subsequent quarter | $ 53,436 | $ 46,580 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION | BASIS OF PRESENTATION The accompanying Unaudited Condensed Consolidated Financial Statements of Huntington reflect all adjustments consisting of normal recurring accruals which are, in the opinion of Management, necessary for a fair presentation of the consolidated financial position, the results of operations, and cash flows for the periods presented. The year-end condensed consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP. These Unaudited Condensed Consolidated Financial Statements have been prepared according to the rules and regulations of the SEC and, therefore, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted. The Notes to Consolidated Financial Statements appearing in Huntington’s 2014 Form 10-K, which include descriptions of significant accounting policies, as updated by the information contained in this report, should be read in conjunction with these interim financial statements. For statement of cash flows purposes, cash and cash equivalents are defined as the sum of “Cash and due from banks” which includes amounts on deposit with the Federal Reserve and “Federal funds sold and securities purchased under resale agreements.” In conjunction with applicable accounting standards, all material subsequent events have been either recognized in the Unaudited Condensed Consolidated Financial Statements or disclosed in the Notes to Unaudited Condensed Consolidated Financial Statements. |
ACCOUNTING STANDARDS UPDATE
ACCOUNTING STANDARDS UPDATE | 9 Months Ended |
Sep. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
ACCOUNTING STANDARDS UPDATE | ACCOUNTING STANDARDS UPDATE ASU 2014-04—Receivables (Topic 310): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The ASU clarifies that an in substance repossession or foreclosure occurs upon either the creditor obtaining legal title to the residential real estate property or the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amendments were effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014. The amendment did not have a material impact on Huntington’s Unaudited Condensed Consolidated Financial Statements. ASU 2014-09—Revenue from Contracts with Customers (Topic 606): The amendments in ASU 2014-09 supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The general principle of the amendments require an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance sets forth a five step approach to be utilized for revenue recognition. The amendments were originally effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Subsequently, the FASB issued a one-year deferral for implementation, which results in new guidance being effective for annual and interim reporting periods beginning after December 15, 2017. The FASB, however, permitted adoption of the new guidance on the original effective date. Management is currently assessing the impact on Huntington’s Consolidated Financial Statements. ASU 2014-11—Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments in the ASU require repurchase-to-maturity transactions to be recorded and accounted for as secured borrowings. Amendments to Topic 860 also require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty (i.e., a repurchase financing), which will result in secured borrowing accounting for the repurchase agreement, as well as additional required disclosures. The accounting amendments and disclosures are effective for interim and annual periods beginning after December 15, 2014. The disclosures for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions accounted for as secured borrowings are required to be presented for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. The amendments did not have a material impact on Huntington’s Unaudited Condensed Consolidated Financial Statements. ASU 2014-12—Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. The amendments require that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. Specifically, if the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The amendments are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Management is currently assessing the impact on Huntington’s Consolidated Financial Statements. ASU 2014-14—Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure. The amendments require a mortgage loan to be derecognized and a separate receivable to be recognized upon foreclosure if the loan has a government guarantee that is non-separable from the loan before foreclosure, the creditor has the ability and intent to convey the real estate property to the guarantor, and any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Additionally, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor upon foreclosure. The amendments were effective for annual periods and interim periods within those annual periods beginning after December 15, 2014. The amendments did not have a material impact on Huntington’s Unaudited Condensed Consolidated Financial Statements. ASU 2015-02—Consolidation (Topic 810)—Amendments to the Consolidation Analysis . The amendment applies to entities in all industries and provides a new scope exception for registered money market funds and similar unregistered money market funds. It also makes targeted amendments to the current consolidation guidance and ends the deferral granted to investment companies from applying the variable interest entity accounting guidance. The amendments are effective for annual periods beginning after December 15, 2015. Management is currently assessing the impact on Huntington’s Consolidated Financial Statements. ASU 2015-03—Imputation of Interest (Topic 835): Simplifying the Presentation of Debt Issuance Costs. This ASU was issued to simplify presentation of debt issuance costs. The amendments in this ASU require debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Subsequently, the FASB issued ASU 2015-15 to amend the SEC paragraph related to debt issuance cost. The amendment applies to debt issuance costs related to a line-of-credit arrangement which may be presented as an asset. The cost related to the line-of credit should be subsequently amortized ratably over the term of the line-of-credit arrangement. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. The amendments are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The amendment is not expected to have a material impact on Huntington’s Consolidated Financial Statements. ASU 2015-10—Technical Corrections and Improvements. The technical corrections and improvements included in the ASU are issued in June 2015 with an objective to clarify the Accounting Standards Codification (“Codification”), correct unintended application of guidance, or make minor improvements to the Codification that are minor in nature. One of the corrections is related to disclosure of fair value for non-recurring items. The ASU requires disclosure of fair value for non-recurring items at the relevant measurement date where the fair value is not measured at the end of the reporting period. Also, for nonrecurring measurements estimated at a date during the reporting period other than the end of the reporting period, a reporting entity shall clearly indicate that the fair value information presented is not as of the period’s end as well as the date or period that the measurement was taken. The technical correction is effective upon issuance. The correction in the ASU does not have a significant impact on Huntington’s Unaudited Condensed Consolidated Financial Statements. ASU 2015-16 - Simplifying the Accounting for Measurement-Period Adjustments. The amendments in this Update require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The acquirer is required to record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The amendments require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The Update is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments in this Update should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this Update with earlier application permitted. |
LOANS _ LEASES AND ALLOWANCE FO
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES | LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES Loans and leases for which Huntington has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are classified in the Unaudited Condensed Consolidated Balance Sheets as loans and leases. Except for loans which are accounted for at fair value, loans are carried at the principal amount outstanding, net of unamortized premiums and discounts and deferred loan fees and costs, which resulted in a net premium of $246.6 million and $230.2 million at September 30, 2015 and December 31, 2014 , respectively. Loan and Lease Portfolio Compositioln The following table provides a detailed listing of Huntington’s loan and lease portfolio at September 30, 2015 and December 31, 2014 : (dollar amounts in thousands) September 30, December 31, Loans and leases: Commercial and industrial $ 20,039,429 $ 19,033,146 Commercial real estate 5,404,274 5,197,403 Automobile 9,160,241 8,689,902 Home equity 8,460,989 8,490,915 Residential mortgage 6,071,356 5,830,609 Other consumer 519,620 413,751 Loans and leases 49,655,909 47,655,726 Allowance for loan and lease losses (591,938 ) (605,196 ) Net loans and leases $ 49,063,971 $ 47,050,530 As shown in the table above, the primary loan and lease portfolios are: C&I, CRE, automobile, home equity, residential mortgage, and other consumer. For ACL purposes, these portfolios are further disaggregated into classes. The classes within each portfolio are as follows: Portfolio Class Commercial and industrial Owner occupied Purchased credit-impaired Other commercial and industrial Commercial real estate Retail properties Multi family Office Industrial and warehouse Purchased credit-impaired Other commercial real estate Automobile NA (1) Home equity Secured by first-lien Secured by junior-lien Residential mortgage Residential mortgage Purchased credit-impaired Other consumer Other consumer Purchased credit-impaired (1) Not applicable. The automobile loan portfolio is not further segregated into classes. Huntington Technology Finance acquisition On March 31, 2015, Huntington completed its acquisition of Macquarie Equipment Finance, which was re-branded Huntington Technology Finance. Lease receivables with a fair value of $838.6 million , including a lease residual value of approximately $200 million , were acquired by Huntington. These leases were recorded at fair value. The fair values for the leases were estimated using discounted cash flow analyses using interest rates currently being offered for leases with similar terms (Level 3), and reflected an estimate of credit and other risk associated with the leases. Camco Financial acquisition On March 1, 2014, Huntington completed its acquisition of Camco Financial. Loans with a fair value of $559.4 million were transferred to Huntington. Fidelity Bank acquisition On March 30, 2012, Huntington acquired the loans of Fidelity Bank located in Dearborn, Michigan from the FDIC. Under the agreement, loans with a fair value of $523.9 million were acquired by Huntington. Purchased Credit-Impaired Loans Purchased loans with evidence of deterioration in credit quality since origination for which it is probable at acquisition that we will be unable to collect all contractually required payments are considered to be credit impaired. Purchased credit-impaired loans are initially recorded at fair value, which is estimated by discounting the cash flows expected to be collected at the acquisition date. Because the estimate of expected cash flows reflects an estimate of future credit losses expected to be incurred over the life of the loans, an allowance for credit losses is not recorded at the acquisition date. The excess of cash flows expected at acquisition over the estimated fair value, referred to as the accretable yield, is recognized in interest income over the remaining life of the loan, or pool of loans, on a level-yield basis. The difference between the contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable difference. A subsequent decrease in the estimate of cash flows expected to be received on purchased credit-impaired loans generally results in the recognition of an allowance for credit losses. Subsequent increases in cash flows result in reversal of any nonaccretable difference (or allowance for loan and lease losses to the extent any has been recorded) with a positive impact on interest income subsequently recognized. The measurement of cash flows involves assumptions and judgments for interest rates, prepayments, default rates, loss severity, and collateral values. All of these factors are inherently subjective and significant changes in the cash flow estimates over the life of the loan can result. The following table presents a rollforward of the accretable yield for purchased credit impaired loans by acquisition for the three-month and nine-month periods ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Fidelity Bank Balance, beginning of period $ 19,312 $ 24,596 $ 19,388 $ 27,995 Accretion (2,818 ) (3,070 ) (8,682 ) (10,722 ) Reclassification (to) from nonaccretable difference 1,089 (6 ) 6,877 4,247 Balance, end of period $ 17,583 $ 21,520 $ 17,583 $ 21,520 Camco Financial Balance, beginning of period $ 681 $ 154 $ 824 $ — Impact of acquisition/purchase on March 1, 2014 — — — 143 Accretion (106 ) (153 ) (1,357 ) (5,335 ) Reclassification (to) from nonaccretable difference (393 ) 816 715 6,009 Balance, end of period $ 182 $ 817 $ 182 $ 817 The allowance for loan losses recorded on the purchased credit-impaired loan portfolio at September 30, 2015 and December 31, 2014 was $0.7 million and $4.1 million , respectively. The following table reflects the ending and unpaid balances of all contractually required payments and carrying amounts of the acquired loans by acquisition at September 30, 2015 and December 31, 2014 : September 30, 2015 December 31, 2014 (dollar amounts in thousands) Ending Unpaid Ending Unpaid Fidelity Bank Commercial and industrial $ 19,484 $ 28,812 $ 22,405 $ 33,622 Commercial real estate 24,619 67,413 36,663 87,250 Residential mortgage 1,513 2,292 1,912 3,096 Other consumer 50 107 51 123 Total $ 45,666 $ 98,624 $ 61,031 $ 124,091 Camco Financial Commercial and industrial $ — $ — $ 823 $ 1,685 Commercial real estate 1,156 1,499 1,708 3,826 Residential mortgage — — — — Other consumer — — — — Total $ 1,156 $ 1,499 $ 2,531 $ 5,511 Loan Purchases and Sales The following table summarizes portfolio loan purchase and sale activity for the three-month and nine-month periods ended September 30, 2015 and 2014 . The table below excludes mortgage loans originated for sale. (dollar amounts in thousands) Commercial Commercial Automobile Home Residential Other Total Portfolio loans and leases purchased or transferred from held for sale during the: Three-month period ended September 30, 2015 $ 180,036 $ — $ — $ — $ 57,388 $ — $ 237,424 Nine-month period ended September 30, 2015 224,532 — 262,037 (2) — 164,425 $ — 650,994 Three-month period ended September 30, 2014 64,668 — — — 2,224 $ — 66,892 Nine-month period ended September 30, 2014 $ 270,272 $ — $ — $ — $ 16,547 $ — $ 286,819 Portfolio loans and leases sold or transferred to loans held for sale during the: Three-month period ended September 30, 2015 $ 98,117 $ — $ — $ 96,786 (3 ) $ — $ — $ 194,903 Nine-month period ended September 30, 2015 284,019 — 1,026,195 (1) 96,786 — — 1,407,000 Three-month period ended September 30, 2014 179,065 — — — — — 179,065 Nine-month period ended September 30, 2014 $ 283,796 $ 7,434 $ — $ — $ — $ 7,592 $ 298,822 (1) Reflects the transfer of approximately $1.0 billion automobile loans to loans held-for-sale at March 31, 2015. (2) Includes loans Huntington no longer has the intent to sell and, therefore transferred back to the portfolio in the 2015 second quarter. (3) Reflects the transfer of approximately $96.8 million home equity TDRs from loans to loans held for sale at September 30, 2015. NALs and Past Due Loans Loans are considered past due when the contractual amounts due with respect to principal and interest are not received within 30 days of the contractual due date. Any loan in any portfolio may be placed on nonaccrual status prior to the policies described below when collection of principal or interest is in doubt. When a borrower with debt is discharged in a Chapter 7 bankruptcy and not reaffirmed by the borrower, the loan is determined to be collateral dependent and placed on nonaccrual status. All classes within the C&I and CRE portfolios (except for purchased credit-impaired loans) are placed on nonaccrual status at 90 -days past due. Residential mortgage loans are placed on nonaccrual status at 150 -days past due, with the exception of residential mortgages guaranteed by government organizations. First-lien home equity loans are placed on nonaccrual status at 150 -days past due. Junior-lien home equity loans are placed on nonaccrual status at the earlier of 120 -days past due or when the related first-lien loan has been identified as nonaccrual. Automobile and other consumer loans are generally charged-off when the loan is 120 -days past due. For all classes within all loan portfolios, when a loan is placed on nonaccrual status, any accrued interest income is reversed with current year accruals charged to interest income, and prior year amounts are recognized as a credit loss. For all classes within all loan portfolios, cash receipts received on NALs are applied entirely against principal until the loan or lease has been collected in full, after which time any additional cash receipts are recognized as interest income. However, for secured non-reaffirmed debt in a Chapter 7 bankruptcy, payments are applied to principal and interest when the borrower has demonstrated a capacity to continue payment of the debt and collection of the debt is reasonably assured. For unsecured non-reaffirmed debt in a Chapter 7 bankruptcy where the carrying value has been fully charged-off, payments are recorded as loan recoveries. Regarding all classes within the C&I and CRE portfolios, the determination of a borrower’s ability to make the required principal and interest payments is based on an examination of the borrower’s current financial statements, industry, management capabilities, and other qualitative measures. For all classes within the consumer loan portfolio, the determination of a borrower’s ability to make the required principal and interest payments is based on multiple factors, including number of days past due and, in some instances, an evaluation of the borrower’s financial condition. When, in Management’s judgment, the borrower’s ability to make required principal and interest payments resumes and collectability is no longer in doubt, supported by sustained repayment history, the loan or lease is returned to accrual status. For these loans that have been returned to accrual status, cash receipts are applied according to the contractual terms of the loan. The following table presents NALs by loan class at September 30, 2015 and December 31, 2014 : (dollar amounts in thousands) September 30, December 31, Commercial and industrial: Owner occupied $ 42,231 $ 41,285 Other commercial and industrial 115,671 30,689 Total commercial and industrial 157,902 71,974 Commercial real estate: Retail properties $ 7,887 $ 21,385 Multi family 9,183 9,743 Office 5,414 7,707 Industrial and warehouse 1,147 3,928 Other commercial real estate 3,885 5,760 Total commercial real estate 27,516 48,523 Automobile 5,551 4,623 Home equity: Secured by first-lien 33,974 46,938 Secured by junior-lien 32,472 31,577 Total home equity 66,446 78,515 Residential mortgage 98,908 96,609 Other consumer 154 — Total nonaccrual loans $ 356,477 $ 300,244 The following table presents an aging analysis of loans and leases, including past due loans, by loan class at September 30, 2015 and December 31, 2014 : (1) September 30, 2015 Past Due Total Loans 90 or more (dollar amounts in thousands) 30-59 Days 60-89 Days 90 or more days Total Current Commercial and industrial: Owner occupied $ 5,500 $ 3,742 $ 11,195 $ 20,437 $ 4,056,263 $ 4,076,700 $ — Purchased credit-impaired 802 1,622 3,412 5,836 13,648 19,484 3,412 (3) Other commercial and industrial 54,302 21,742 17,901 93,945 15,849,300 15,943,245 3,159 (2) Total commercial and industrial 60,604 27,106 32,508 120,218 19,919,211 20,039,429 6,571 Commercial real estate: Retail properties 10,095 297 3,769 14,161 1,408,479 1,422,640 $ — Multi family 1,078 3,620 2,605 7,303 1,210,792 1,218,095 — Office 5,889 1,094 2,211 9,194 916,636 925,830 — Industrial and warehouse 22 146 369 537 535,228 535,765 — Purchased credit-impaired 364 1,052 12,178 13,594 12,181 25,775 12,178 (3) Other commercial real estate 188 — 3,137 3,325 1,272,844 1,276,169 — Total commercial real estate 17,636 6,209 24,269 48,114 5,356,160 5,404,274 12,178 Automobile 58,391 14,051 6,934 79,376 9,080,865 9,160,241 6,873 Home equity: Secured by first-lien 13,269 7,241 26,321 46,831 5,110,070 5,156,901 4,207 Secured by junior-lien 21,693 10,523 32,952 65,168 3,238,920 3,304,088 6,557 Total home equity 34,962 17,764 59,273 111,999 8,348,990 8,460,989 10,764 Residential mortgage: Residential mortgage 92,163 37,313 123,097 252,573 5,817,270 6,069,843 68,135 (4) Purchased credit-impaired — — — — 1,513 1,513 — Total residential mortgage 92,163 37,313 123,097 252,573 5,818,783 6,071,356 68,135 Other consumer: Other consumer 6,411 1,547 1,241 9,199 510,371 519,570 1,087 Purchased credit-impaired — — — — 50 50 — Total other consumer 6,411 1,547 1,241 9,199 510,421 519,620 1,087 Total loans and leases $ 270,167 $ 103,990 $ 247,322 $ 621,479 $ 49,034,430 $ 49,655,909 $ 105,608 December 31, 2014 Past Due Total Loans 90 or more (dollar amounts in thousands) 30-59 Days 60-89 Days 90 or more days Total Current Commercial and industrial: Owner occupied $ 5,232 $ 2,981 $ 18,222 $ 26,435 $ 4,228,440 $ 4,254,875 $ — Purchased credit-impaired 846 — 4,937 5,783 17,445 23,228 4,937 (3) Other commercial and industrial 15,330 1,536 9,101 25,967 14,729,076 14,755,043 — Total commercial and industrial 21,408 4,517 32,260 58,185 18,974,961 19,033,146 4,937 Commercial real estate: Retail properties 7,866 — 4,021 11,887 1,345,859 1,357,746 $ — Multi family 1,517 312 3,337 5,166 1,085,250 1,090,416 — Office 464 1,167 4,415 6,046 974,257 980,303 — Industrial and warehouse 688 — 2,649 3,337 510,064 513,401 — Purchased credit-impaired 89 289 18,793 19,171 19,200 38,371 18,793 (3) Other commercial real estate 847 1,281 3,966 6,094 1,211,072 1,217,166 — Total commercial real estate 11,471 3,049 37,181 51,701 5,145,702 5,197,403 18,793 Automobile 56,272 10,427 5,963 72,662 8,617,240 8,689,902 5,703 Home equity Secured by first-lien 15,036 8,085 33,014 56,135 5,072,669 5,128,804 4,471 Secured by junior-lien 22,473 12,297 33,406 68,176 3,293,935 3,362,111 7,688 Total home equity 37,509 20,382 66,420 124,311 8,366,604 8,490,915 12,159 Residential mortgage Residential mortgage 102,702 42,009 139,379 284,090 5,544,607 5,828,697 88,052 (5) Purchased credit-impaired — — — — 1,912 1,912 — Total residential mortgage 102,702 42,009 139,379 284,090 5,546,519 5,830,609 88,052 Other consumer Other consumer 5,491 1,086 837 7,414 406,286 413,700 837 Purchased credit-impaired — — — — 51 51 — Total other consumer 5,491 1,086 837 7,414 406,337 413,751 837 Total loans and leases $ 234,853 $ 81,470 $ 282,040 $ 598,363 $ 47,057,363 $ 47,655,726 $ 130,481 (1) NALs are included in this aging analysis based on the loan’s past due status. (2) Amounts include Huntington Technology Finance administrative lease delinquencies. (3) Amounts represent accruing purchased impaired loans related to acquisitions. Under the applicable accounting guidance (ASC 310-30), the loans were recorded at fair value upon acquisition and remain in accruing status. (4) Includes $50,643 thousand guaranteed by the U.S. government. (5) Includes $55,012 thousand guaranteed by the U.S. government. Allowance for Credit Losses Huntington maintains two reserves, both of which reflect Management’s judgment regarding the appropriate level necessary to absorb credit losses inherent in our loan and lease portfolio: the ALLL and the AULC. Combined, these reserves comprise the total ACL. The determination of the ACL requires significant estimates, including the timing and amounts of expected future cash flows on impaired loans and leases, consideration of current economic conditions, and historical loss experience pertaining to pools of homogeneous loans and leases, all of which may be susceptible to change. The appropriateness of the ACL is based on Management’s current judgments about the credit quality of the loan portfolio. These judgments consider on-going evaluations of the loan and lease portfolio, including such factors as the differing economic risks associated with each loan category, the financial condition of specific borrowers, the level of delinquent loans, the value of any collateral and, where applicable, the existence of any guarantees or other documented support. Further, Management evaluates the impact of changes in interest rates and overall economic conditions on the ability of borrowers to meet their financial obligations when quantifying our exposure to credit losses and assessing the appropriateness of our ACL at each reporting date. In addition to general economic conditions and the other factors described above, additional factors also considered include: the impact of increasing or decreasing residential real estate values; the diversification of CRE loans; the development of new or expanded Commercial business segments such as healthcare, ABL, and energy, and the overall condition of the manufacturing industry. Management’s determinations regarding the appropriateness of the ACL are reviewed and approved by the Company’s board of directors. The ALLL consists of two components: (1) the transaction reserve, which includes a loan level allocation, specific reserves related to loans considered to be impaired, and loans involved in troubled debt restructurings, and (2) the general reserve. The transaction reserve component includes both (1) an estimate of loss based on pools of commercial and consumer loans and leases with similar characteristics and (2) an estimate of loss based on an impairment review of each impaired C&I and CRE loan greater than $1.0 million. For the C&I and CRE portfolios, the estimate of loss based on pools of loans and leases with similar characteristics is made by applying a PD factor and a LGD factor to each individual loan based on a regularly updated loan grade, using a standardized loan grading system. The PD factor and an LGD factor are determined for each loan grade using statistical models based on historical performance data. The PD factor considers on-going reviews of the financial performance of the specific borrower, including cash flow, debt-service coverage ratio, earnings power, debt level, and equity position, in conjunction with an assessment of the borrower’s industry and future prospects. The LGD factor considers analysis of the type of collateral and the relative LTV ratio. These reserve factors are developed and updated periodically based on credit migration models that track historical movements of loans between loan ratings over time and a combination of long-term average loss experience of our own portfolio and external industry data. In the case of other homogeneous portfolios, such as automobile loans, home equity loans, and residential mortgage loans, the determination of the transaction reserve also incorporates PD and LGD factors. The estimate of loss is based on pools of loans and leases with similar characteristics. The PD factor considers current credit scores unless the account is delinquent, in which case a higher PD factor is used. The credit score provides a basis for understanding the borrower’s past and current payment performance, and this information is used to estimate expected losses over the emergence period. The performance of first-lien loans ahead of our junior-lien loans is available to use as part of our updated score process. The LGD factor considers analysis of the type of collateral and the relative LTV ratio. Credit scores, models, analyses, and other factors used to determine both the PD and LGD factors are updated frequently to capture the recent behavioral characteristics of the subject portfolios, as well as any changes in loss mitigation or credit origination strategies, and adjustments to the reserve factors are made as required. Models utilized in the ALLL estimation process are subject to the Company’s model validation policies. The general reserve consists of our risk-profile reserve components, which includes items unique to our structure, policies, processes, and portfolio composition, as well as qualitative measurements and assessments of the loan portfolios including, but not limited to, management quality, concentrations, portfolio composition, industry comparisons, and internal review functions. The estimate for the AULC is determined using the same procedures and methodologies as used for the ALLL. The loss factors used in the AULC are the same as the loss factors used in the ALLL while also considering a historical utilization of unused commitments. The AULC is reflected in accrued expenses and other liabilities in the Unaudited Condensed Consolidated Balance Sheet. The ACL is increased through a provision for credit losses that is charged to earnings, based on Management’s quarterly evaluation of the factors previously mentioned, and is reduced by charge-offs, net of recoveries, and the ACL associated with securitized or sold loans. During the 2015 first quarter, we reviewed our existing commercial and consumer credit models and enhanced certain processes and methods of ACL estimation. During this review, we analyzed the loss emergence periods used for consumer receivables collectively evaluated for impairment and, as a result, extended our loss emergence periods for products within these portfolios. As part of these enhancements to our credit reserve process, we evaluated the methods used to separately estimate economic risks inherent in our portfolios and decided to no longer utilize these separate estimation techniques. Economic risks are incorporated in our loss estimates elsewhere in our reserve calculation. The enhancements made to our credit reserve processes during the quarter allow for increased segmentation and analysis of the estimated incurred losses within our loan portfolios. The net ACL impact of these enhancements was immaterial. During the 2015 third quarter, we reviewed our existing commercial and consumer credit models and completed a periodic reassessment of certain ACL assumptions. Specifically, we updated our analysis of the loss emergence periods used for commercial receivables collectively evaluated for impairment. Based on our observed portfolio experience, we extended our loss emergence periods for the C&I portfolio and CRE portfolios. We also updated loss factors in our consumer home equity and residential mortgage portfolios based on more recently observed portfolio experience. The net ACL impact of these enhancements was immaterial. The following table presents ALLL and AULC activity by portfolio segment for the three-month and nine-month periods ended September 30, 2015 and 2014 : (dollar amounts in thousands) Commercial Commercial Automobile Home Residential Other Total Three-month period ended September 30, 2015: ALLL balance, beginning of period $ 285,041 $ 92,060 $ 39,102 $ 111,178 $ 51,679 $ 20,482 $ 599,542 Loan charge-offs (26,016 ) (3,976 ) (9,084 ) (10,164 ) (3,192 ) (8,443 ) (60,875 ) Recoveries of loans previously charged-off 16,158 17,797 4,176 4,295 1,182 1,104 44,712 Provision (reduction in allowance) for loan and lease losses 9,146 4,086 9,755 (13,406 ) (6,875 ) 10,918 13,624 Write-downs of loans sold or transferred to loans held for sale — — — (5,065 ) — — (5,065 ) ALLL balance, end of period $ 284,329 $ 109,967 $ 43,949 $ 86,838 $ 42,794 $ 24,061 $ 591,938 AULC balance, beginning of period $ 41,849 $ 5,778 $ — $ 2,522 $ 17 $ 5,205 $ 55,371 Provision (reduction in allowance) for unfunded loan commitments and letters of credit 6,794 1,965 — (619 ) — 712 8,852 AULC balance, end of period $ 48,643 $ 7,743 $ — $ 1,903 $ 17 $ 5,917 $ 64,223 ACL balance, end of period $ 332,972 $ 117,710 $ 43,949 $ 88,741 $ 42,811 $ 29,978 $ 656,161 Nine-month period ended September 30, 2015: ALLL balance, beginning of period $ 286,995 $ 102,839 $ 33,466 $ 96,413 $ 47,211 $ 38,272 $ 605,196 Loan charge-offs (62,841 ) (14,277 ) (24,878 ) (27,379 ) (11,665 ) (21,880 ) (162,920 ) Recoveries of loans previously charged-off 37,169 26,585 12,280 12,235 4,697 3,984 96,950 Provision (reduction in allowance) for loan and lease losses 23,006 (5,180 ) 25,373 10,634 2,551 3,685 60,069 Write-downs of loans sold or transferred to loans held for sale — — (2,292 ) (5,065 ) — — (7,357 ) ALLL balance, end of period $ 284,329 $ 109,967 $ 43,949 $ 86,838 $ 42,794 $ 24,061 $ 591,938 AULC balance, beginning of period $ 48,988 $ 6,041 $ — $ 1,924 $ 8 $ 3,845 $ 60,806 Provision for (reduction in allowance) unfunded loan commitments and letters of credit (345 ) 1,702 — (21 ) 9 2,072 3,417 AULC balance, end of period $ 48,643 $ 7,743 $ — $ 1,903 $ 17 $ 5,917 $ 64,223 ACL balance, end of period $ 332,972 $ 117,710 $ 43,949 $ 88,741 $ 42,811 $ 29,978 $ 656,161 (dollar amounts in thousands) Commercial Commercial Automobile Home Residential Other Total Three-month period ended September 30, 2014: ALLL balance, beginning of period $ 278,512 $ 137,346 $ 27,158 $ 105,943 $ 47,191 $ 38,951 $ 635,101 Loan charge-offs (20,723 ) (4,664 ) (7,292 ) (9,584 ) (6,477 ) (9,771 ) (58,511 ) Recoveries of loans previously charged-off 8,136 10,671 3,316 3,136 1,049 2,180 28,488 Provision for (reduction in allowance) loan and lease losses 25,476 (27,881 ) 7,550 880 10,895 9,038 25,958 Allowance for loans sold or transferred to loans held for sale — — — — — — — ALLL balance, end of period $ 291,401 $ 115,472 $ 30,732 $ 100,375 $ 52,658 $ 40,398 $ 631,036 AULC balance, beginning of period $ 44,750 $ 7,530 $ — $ 1,977 $ 8 $ 2,662 $ 56,927 Provision for (reduction in allowance) unfunded loan commitments and letters of credit (1,545 ) (552 ) — (18 ) 2 635 (1,478 ) AULC balance, end of period $ 43,205 $ 6,978 $ — $ 1,959 $ 10 $ 3,297 $ 55,449 ACL balance, end of period $ 334,606 $ 122,450 $ 30,732 $ 102,334 $ 52,668 $ 43,695 $ 686,485 Nine-month period ended September 30, 2014: ALLL balance, beginning of period $ 265,801 $ 162,557 $ 31,053 $ 111,131 $ 39,577 $ 37,751 $ 647,870 Loan charge-offs (60,305 ) (17,772 ) (21,969 ) (43,844 ) (21,525 ) (24,934 ) (190,349 ) Recoveries of loans previously charged-off 28,515 26,957 10,425 13,218 4,832 4,750 88,697 Provision for (reduction in allowance) loan and lease losses 57,390 (56,270 ) 11,223 19,870 29,774 23,958 85,945 Allowance for loans sold or transferred to loans held for sale — — — — — (1,127 ) (1,127 ) ALLL balance, end of period $ 291,401 $ 115,472 $ 30,732 $ 100,375 $ 52,658 $ 40,398 $ 631,036 AULC balance, beginning of period $ 49,596 $ 9,891 $ — $ 1,763 $ 9 $ 1,640 $ 62,899 Provision for (reduction in allowance) unfunded loan commitments and letters of credit (6,391 ) (2,913 ) — 196 1 1,657 (7,450 ) AULC balance, end of period $ 43,205 $ 6,978 $ — $ 1,959 $ 10 $ 3,297 $ 55,449 ACL balance, end of period $ 334,606 $ 122,450 $ 30,732 $ 102,334 $ 52,668 $ 43,695 $ 686,485 Any loan in any portfolio may be charged-off prior to the policies described below if a loss confirming event has occurred. Loss confirming events include, but are not limited to, bankruptcy (unsecured), continued delinquency, foreclosure, or receipt of an asset valuation indicating a collateral deficiency and that asset is the sole source of repayment. Additionally, discharged, collateral dependent non-reaffirmed debt in Chapter 7 bankruptcy filings will result in a charge-off to estimated collateral value, less anticipated selling costs. C&I and CRE loans are either charged-off or written down to net realizable value at 90-days past due. Automobile loans and other consumer loans are charged-off or written down to net realizable value at 120-days past due. First-lien and junior-lien home equity loans are charged-off to the estimated fair value of the collateral, less anticipated selling costs, at 150-days past due and 120-days past due, respectively. Residential mortgages are charged-off to the estimated fair value of the collateral, less anticipated selling costs, at 150-days past due. Credit Quality Indicators To facilitate the monitoring of credit quality for C&I and CRE loans, and for purposes of determining an appropriate ACL level for these loans, Huntington utilizes the following categories of credit grades: Pass - Higher quality loans that do not fit any of the other categories described below. OLEM - The credit risk may be relatively minor yet represent a risk given certain specific circumstances. If the potential weaknesses are not monitored or mitigated, the loan may weaken or the collateral may be inadequate to protect Huntington’s position in the future. For these reasons, Huntington considers the loans to be potential problem loans. Substandard - Inadequately protected loans by the borrower’s ability to repay, equity, and/or the collateral pledged to secure the loan. These loans have identified weaknesses that could hinder normal repayment or collection of the debt. It is likely Huntington will sustain some loss if any identified weaknesses are not mitigated. Doubtful - Loans that have all of the weaknesses inherent in those loans classified as Substandard, with the added elements of the full collection of the loan is improbable and that the possibility of loss is high. The categories above, which are derived from standard regulatory rating definitions, are assigned upon initial approval of the loan or lease and subsequently updated as appropriate. Commercial loans categorized as OLEM, Substandard, or Doubtful are considered Criticized loans. Commercial loans categorized as Substandard or Doubtful are also considered Classified loans. For all classes within all consumer loan portfolios, each loan is assigned a specific PD factor that is partially based on the borrower’s most recent credit bureau score, which we update quarterly. A credit bureau score is a credit score developed by Fair Isaac Corporation based on data provided by the credit bureaus. The credit bureau score is widely accepted as the standard measure of consumer credit risk used by lenders, regulators, rating agencies, and consumers. The higher the credit bureau score, the higher likelihood of repayment and therefore, an indicator of higher credit quality. Huntington assesses the risk in the loan portfolio by utilizing numerous risk characteristics. The classifications described above, and also presented in the table below, represent one of those characteristics that are closely monitored in the overall credit risk management processes. The following table presents each loan and lease class by credit quality indicator at September 30, 2015 and December 31, 2014 : September 30, 2015 Credit Risk Profile by UCS Classification (dollar amounts in thousands) Pass OLEM Substandard Doubtful Total Commercial and industrial: Owner occupied $ 3,763,002 $ 96,338 $ 213,755 $ 3,605 $ 4,076,700 Purchased credit-impaired 4,321 641 14,522 — 19,484 Other commercial and industrial 15,031,737 289,321 616,708 5,479 15,943,245 Total commercial and industrial 18,799,060 386,300 844,985 9,084 20,039,429 Commercial real estate: Retail properties 1,372,078 10,659 39,903 — 1,422,640 Multi family 1,162,776 32,220 22,733 366 1,218,095 Office 861,564 27,713 35,267 1,286 925,830 Industrial and warehouse 527,047 268 8,374 76 535,765 Purchased credit-impaired 8,333 189 15,456 1,797 25,775 Other commercial real estate 1,240,034 7,114 28,460 561 1,276,169 Total commercial real estate 5,171,832 78,163 150,193 4,086 5,404,274 Credit Risk Profile by FICO Score (1) 750+ 650-749 <650 Other (2) Total Automobile 4,465,597 3,388,521 1,053,464 252,659 9,160,241 Home equity: Secured by first-lien 3,314,317 1,436,522 252,179 153,883 5,156,901 Secured by junior-lien 1,829,202 1,035,173 336,424 103,289 3,304,088 Total home equity 5,143,519 2,471,695 588,603 257,172 8,460,989 Residential mortgage: Residential mortgage 3,563,718 1,859,268 602,172 44, |
AVAILABLE-FOR-SALE AND OTHER SE
AVAILABLE-FOR-SALE AND OTHER SECURITIES | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
AVAILABLE-FOR-SALE AND OTHER SECURITIES | AVAILABLE-FOR-SALE AND OTHER SECURITIES Listed below are the contractual maturities (under 1 year, 1-5 years, 6-10 years, and over 10 years) of available-for-sale and other securities at September 30, 2015 and December 31, 2014 : September 30, 2015 December 31, 2014 (dollar amounts in thousands) Amortized Cost Fair Value Amortized Cost Fair Value U.S. Treasury, Federal agency, and other agency securities: U.S. Treasury: 1 year or less $ 8,583 $ 8,585 $ — $ — After 1 year through 5 years 5,451 5,510 5,435 5,452 After 5 years through 10 years — — — — After 10 years — — — — Total U.S. Treasury 14,034 14,095 5,435 5,452 Federal agencies: mortgage-backed securities: 1 year or less 52,951 53,052 47,023 47,190 After 1 year through 5 years 125,173 128,473 216,775 221,078 After 5 years through 10 years 227,466 231,846 184,576 186,938 After 10 years 6,261,562 6,350,842 4,825,525 4,867,495 Total Federal agencies: mortgage-backed securities 6,667,152 6,764,213 5,273,899 5,322,701 Other agencies: 1 year or less 1,702 1,712 33,047 33,237 After 1 year through 5 years 8,264 8,672 9,122 9,575 After 5 years through 10 years 214,184 219,193 103,530 105,019 After 10 years 144,292 146,961 204,016 203,712 Total other agencies 368,442 376,538 349,715 351,543 Total U.S. Treasury, Federal agency, and other agency securities 7,049,628 7,154,846 5,629,049 5,679,696 Municipal securities: 1 year or less 280,971 276,600 256,399 255,835 After 1 year through 5 years 499,125 501,559 269,385 274,003 After 5 years through 10 years 987,208 993,630 938,780 945,954 After 10 years 530,386 556,302 376,747 392,777 Total municipal securities 2,297,690 2,328,091 1,841,311 1,868,569 Private-label CMO: 1 year or less — — — — After 1 year through 5 years — — — — After 5 years through 10 years — — 1,314 1,371 After 10 years — — 42,416 40,555 Total private-label CMO — — 43,730 41,926 Asset-backed securities: 1 year or less — — — — After 1 year through 5 years 90,168 90,580 228,852 229,364 After 5 years through 10 years 128,425 129,530 144,163 144,193 After 10 years 624,998 593,899 641,984 582,441 Total asset-backed securities 843,591 814,009 1,014,999 955,998 Corporate debt: 1 year or less 20,695 20,746 18,767 18,953 After 1 year through 5 years 325,773 333,460 314,773 323,503 After 5 years through 10 years 95,909 94,883 145,611 143,720 After 10 years — — — — Total corporate debt 442,377 449,089 479,151 486,176 Other: 1 year or less — — 250 250 After 1 year through 5 years 3,950 3,914 3,150 3,066 After 5 years through 10 years — — — — After 10 years — — — — Non-marketable equity securities 332,418 332,418 331,559 331,559 Mutual funds 11,154 11,153 16,151 16,161 Marketable equity securities 755 1,348 536 1,269 Total other 348,277 348,833 351,646 352,305 Total available-for-sale and other securities $ 10,981,563 $ 11,094,868 $ 9,359,886 $ 9,384,670 Non-marketable equity securities at September 30, 2015 and December 31, 2014 include $157.0 million of stock issued by the FHLB of Cincinnati and $175.4 million and $174.5 million , respectively, of Federal Reserve Bank stock. Non-marketable equity securities are recorded at amortized cost. The following tables provide amortized cost, fair value, and gross unrealized gains and losses recognized in OCI by investment category at September 30, 2015 and December 31, 2014 : Unrealized (dollar amounts in thousands) Amortized Cost Gross Gains Gross Losses Fair Value September 30, 2015 U.S. Treasury $ 14,034 $ 61 $ — $ 14,095 Federal agencies: Mortgage-backed securities 6,667,152 104,044 (6,983 ) 6,764,213 Other agencies 368,442 8,096 — 376,538 Total U.S. Treasury, Federal agency securities 7,049,628 112,201 (6,983 ) 7,154,846 Municipal securities 2,297,690 49,426 (19,025 ) 2,328,091 Private-label CMO — — — — Asset-backed securities 843,591 4,471 (34,053 ) 814,009 Corporate debt 442,377 7,983 (1,271 ) 449,089 Other securities 348,277 592 (36 ) 348,833 Total available-for-sale and other securities $ 10,981,563 $ 174,673 $ (61,368 ) $ 11,094,868 Unrealized (dollar amounts in thousands) Amortized Cost Gross Gains Gross Losses Fair Value December 31, 2014 U.S. Treasury $ 5,435 $ 17 $ — $ 5,452 Federal agencies: Mortgage-backed securities 5,273,899 63,906 (15,104 ) 5,322,701 Other agencies 349,715 2,871 (1,043 ) 351,543 Total U.S. Treasury, Federal agency securities 5,629,049 66,794 (16,147 ) 5,679,696 Municipal securities 1,841,311 37,398 (10,140 ) 1,868,569 Private-label CMO 43,730 1,116 (2,920 ) 41,926 Asset-backed securities 1,014,999 2,061 (61,062 ) 955,998 Corporate debt 479,151 9,442 (2,417 ) 486,176 Other securities 351,646 743 (84 ) 352,305 Total available-for-sale and other securities $ 9,359,886 $ 117,554 $ (92,770 ) $ 9,384,670 At September 30, 2015 , the carrying value of investment securities pledged to secure public and trust deposits, trading account liabilities, U.S. Treasury demand notes, and security repurchase agreements totaled $3.7 billion . There were no securities of a single issuer, which are not governmental or government-sponsored, that exceeded 10% of shareholders’ equity at September 30, 2015 . The following tables provide detail on investment securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position, at September 30, 2015 and December 31, 2014 : Less than 12 Months Over 12 Months Total (dollar amounts in thousands ) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses September 30, 2015 Federal agencies: Mortgage-backed securities $ 417,246 $ (1,087 ) $ 262,384 $ (5,896 ) $ 679,630 $ (6,983 ) Other agencies — — — — — — Total Federal agency securities 417,246 (1,087 ) 262,384 (5,896 ) 679,630 (6,983 ) Municipal securities 282,128 (11,078 ) 243,660 (7,947 ) 525,788 (19,025 ) Private-label CMO — — — — — — Asset-backed securities 102,467 (221 ) 248,239 (33,832 ) 350,706 (34,053 ) Corporate debt 45,450 (469 ) 21,876 (802 ) 67,326 (1,271 ) Other securities 788 (22 ) 1,486 (14 ) 2,274 (36 ) Total temporarily impaired securities $ 848,079 $ (12,877 ) $ 777,645 $ (48,491 ) $ 1,625,724 $ (61,368 ) Less than 12 Months Over 12 Months Total (dollar amounts in thousands ) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2014 Federal agencies: Mortgage-backed securities $ 501,858 $ (1,909 ) $ 527,280 $ (13,195 ) $ 1,029,138 $ (15,104 ) Other agencies 159,708 (1,020 ) 1,281 (23 ) 160,989 (1,043 ) Total Federal agency securities 661,566 (2,929 ) 528,561 (13,218 ) 1,190,127 (16,147 ) Municipal securities 568,619 (9,127 ) 96,426 (1,013 ) 665,045 (10,140 ) Private-label CMO — — 22,650 (2,920 ) 22,650 (2,920 ) Asset-backed securities 157,613 (641 ) 325,691 (60,421 ) 483,304 (61,062 ) Corporate debt 49,562 (252 ) 88,398 (2,165 ) 137,960 (2,417 ) Other securities — — 1,416 (84 ) 1,416 (84 ) Total temporarily impaired securities $ 1,437,360 $ (12,949 ) $ 1,063,142 $ (79,821 ) $ 2,500,502 $ (92,770 ) The following table is a summary of realized securities gains and losses for the three-month and nine-month periods ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Gross gains on sales of securities $ 6,173 $ 198 $ 6,256 $ 17,678 Gross (losses) on sales of securities (5,985 ) — (5,986 ) (20 ) Net gain on sales of securities $ 188 $ 198 $ 270 $ 17,658 Security Impairment Huntington evaluates the available-for-sale securities portfolio on a quarterly basis for impairment. We conduct a comprehensive security-level assessment on all available-for-sale securities. Impairment would exist when the present value of the expected cash flows are not sufficient to recover the entire amortized cost basis at the balance sheet date. Under these circumstances, any impairment would be recognized in earnings. The contractual terms and / or cash flows of the investments do not permit the issuer to settle the securities at a price less than the amortized cost. Huntington does not intend to sell, nor does it believe it will be required to sell these securities until the amortized cost is recovered, which may be maturity. To reduce asset risk weighting and credit risk in the investment portfolio, the remainder of the private-label CMO portfolio was sold in the 2015 third quarter. Huntington recognized OTTI on this portfolio in prior periods. The highest risk segment in our investment portfolio is the trust preferred CDO securities which are in the asset-backed securities portfolio. This portfolio is in run off, and we have not purchased these types of securities since 2005. The fair values of the CDO assets have been impacted by various market conditions. The unrealized losses are primarily the result of wider liquidity spreads on asset-backed securities and the longer expected average lives of the trust-preferred CDO securities, due to changes in the expectations of when the underlying securities will be repaid. Collateralized Debt Obligations are backed by a pool of debt securities issued by financial institutions. The collateral generally consists of trust-preferred securities and subordinated debt securities issued by banks, bank holding companies, and insurance companies. Many collateral issuers have the option of deferring interest payments on their debt for up to five years. A full cash flow analysis is used to estimate fair values and assess impairment for each security within this portfolio. A third party pricing specialist with direct industry experience in pooled-trust-preferred security evaluations is engaged to provide assistance estimating the fair value and expected cash flows on this portfolio. The full cash flow analysis is completed by evaluating the relevant credit and structural aspects of each pooled-trust-preferred security in the portfolio, including collateral performance projections for each piece of collateral in the security and terms of the security’s structure. The credit review includes an analysis of profitability, credit quality, operating efficiency, leverage, and liquidity using available financial and regulatory information for each underlying collateral issuer. The analysis also includes a review of historical industry default data, current / near term operating conditions, and the impact of macroeconomic and regulatory changes. Using the results of our analysis, we estimate appropriate default and recovery probabilities for each piece of collateral then estimate the expected cash flows for each security. The fair value of each security is obtained by discounting the expected cash flows at a market discount rate. The market discount rate is determined by reference to yields observed in the market for similarly rated collateralized debt obligations, specifically high-yield collateralized loan obligations. The relatively high market discount rate is reflective of the uncertainty of the cash flows and illiquid nature of these securities. The large differential between the fair value and amortized cost of some of the securities reflects the high market discount rate and the expectation that the majority of the cash flows will not be received until near the final maturity of the security (the final maturities range from 2032 to 2035). On December 10, 2013, the Federal Reserve, the OCC, the FDIC, the CFTC and the SEC issued final rules to implement the Volcker Rule contained in section 619 of the Dodd-Frank Act, generally to become effective on July 21, 2015. The Volcker Rule prohibits an insured depository institution and its affiliates (referred to as “banking entities”) from: (i) engaging in “proprietary trading” and (ii) investing in or sponsoring certain types of funds (“covered funds”) subject to certain limited exceptions. These prohibitions impact the ability of U.S. banking entities to provide investment management products and services that are competitive with nonbanking firms generally and with non-U.S. banking organizations in overseas markets. The rule also effectively prohibits short-term trading strategies by any U.S. banking entity if those strategies involve instruments other than those specifically permitted for trading. On January 14, 2014, the five federal agencies approved an interim final rule to permit banking entities to retain interests in certain collateralized debt obligations backed primarily by trust preferred securities from the investment prohibitions of section 619 of the Volcker Rule. Under the interim final rule, the agencies permit the retention of an interest in or sponsorship of covered funds by banking entities if certain qualifications are met. In addition, the agencies released a non-exclusive list of issuers that meet the requirements of the interim final rule. At September 30, 2015 , we had investments in eight different pools of trust preferred securities. Seven of our pools are included in the list of non-exclusive issuers. We have analyzed the ICONS pool which was not included on the list and believe that it is more likely than not that we would not be required to sell and will be able to hold the security to recovery under the final Volcker Rule regulations. For the three-month and nine -month periods ended September 30, 2015 and 2014 , the following table summarizes by security type the total OTTI losses recognized in the Unaudited Condensed Consolidated Statements of Income for securities evaluated for impairment as described above. Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Available-for-sale and other securities: Pooled-trust-preferred $ 2,440 $ — $ 2,440 $ — Total debt securities 2,440 — 2,440 — Total available-for-sale and other securities $ 2,440 $ — $ 2,440 $ — The following table rolls forward the OTTI recognized in earnings on debt securities held by Huntington for the three-month and nine -month periods ended September 30, 2015 and 2014 as follows: Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Balance, beginning of period $ 30,869 $ 30,869 $ 30,869 $ 30,869 Reductions from sales/maturities (14,941 ) — (14,941 ) — Additional credit losses 2,440 — 2,440 — Balance, end of period $ 18,368 $ 30,869 $ 18,368 $ 30,869 The following table summarizes the relevant characteristics of our CDO securities portfolio, which are included in asset-backed securities, at September 30, 2015 . Each security is part of a pool of issuers and supports a more senior tranche of securities except for the MM Comm III securities which are the most senior class. Collateralized Debt Obligation Data September 30, 2015 (dollar amounts in thousands) Deal Name Par Value Amortized Cost Fair Value Unrealized Loss (2) Lowest Credit Rating (3) # of Issuers Currently Performing/ Remaining (4) Actual Deferrals and Defaults as a % of Original Collateral Expected Defaults as a % of Remaining Performing Collateral Excess Subordination (5) Alesco II $ 41,646 $ 28,229 $ 25,392 $ (2,838 ) C 30/32 5 % 7 % 4 % ICONS 19,515 19,515 15,670 (3,844 ) BB 19/21 7 16 57 MM Comm III 5,459 5,216 4,341 (875 ) BB 6/9 5 6 32 Pre TSL IX 5,000 3,955 3,019 (936 ) C 27/38 18 10 6 Pre TSL XI 25,000 20,278 15,475 (4,803 ) C 42/55 16 9 9 Pre TSL XIII 27,530 19,869 16,840 (3,028 ) C 46/56 10 11 23 Reg Diversified (1) 25,500 5,706 1,765 (3,942 ) D 24/40 33 7 — Tropic III 31,000 31,000 18,671 (12,329 ) CCC+ 29/40 20 8 39 Total at September 30, 2015 $ 180,650 $ 133,768 $ 101,173 $ (32,595 ) Total at December 31, 2014 $ 193,597 $ 139,194 $ 82,738 $ (56,456 ) (1) Security was determined to have OTTI. As such, the carrying value is net of recorded credit impairment. (2) These securities have been in a continuous loss position for longer than 12 months. (3) For purposes of comparability, the lowest credit rating expressed is equivalent to Fitch ratings even where the lowest rating is based on another nationally recognized credit rating agency. (4) Includes both banks and/or insurance companies. (5) Excess subordination percentage represents the additional defaults in excess of both current and projected defaults that the CDO can absorb before the bond experiences credit impairment. Excess subordinated percentage is calculated by (a) determining what percentage of defaults a deal can experience before the bond has credit impairment, and (b) subtracting from this default breakage percentage both total current and expected future default percentages. |
HELD-TO-MATURITY SECURITIES
HELD-TO-MATURITY SECURITIES | 9 Months Ended |
Sep. 30, 2015 | |
Held-to-maturity Securities [Abstract] | |
HELD-TO-MATURITY SECURITIES | HELD-TO-MATURITY SECURITIES These are debt securities that Huntington has the intent and ability to hold until maturity. The debt securities are carried at amortized cost and adjusted for amortization of premiums and accretion of discounts using the interest method. Listed below are the contractual maturities (under 1 year, 1-5 years, 6-10 years, and over 10 years) of held-to-maturity securities at September 30, 2015 and December 31, 2014 : September 30, 2015 December 31, 2014 (dollar amounts in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Federal agencies: mortgage-backed securities: 1 year or less $ — $ — $ — $ — After 1 year through 5 years — — — — After 5 years through 10 years 24,901 24,783 24,901 24,263 After 10 years 2,769,071 2,799,820 3,136,460 3,140,194 Total Federal agencies: mortgage-backed securities 2,793,972 2,824,603 3,161,361 3,164,457 Other agencies: 1 year or less — — — — After 1 year through 5 years — — — — After 5 years through 10 years 106,687 109,015 54,010 54,843 After 10 years 249,813 251,151 156,553 155,821 Total other agencies 356,500 360,166 210,563 210,664 Total U.S. Government backed agencies 3,150,472 3,184,769 3,371,924 3,375,121 Municipal securities: 1 year or less — — — — After 1 year through 5 years — — — — After 5 years through 10 years — — — — After 10 years 7,216 7,138 7,981 7,594 Total municipal securities 7,216 7,138 7,981 7,594 Total held-to-maturity securities $ 3,157,688 $ 3,191,907 $ 3,379,905 $ 3,382,715 The following table provides amortized cost, gross unrealized gains and losses, and fair value by investment category at September 30, 2015 and December 31, 2014 : Unrealized (dollar amounts in thousands) Amortized Cost Gross Gains Gross Losses Fair Value September 30, 2015 Federal Agencies: Mortgage-backed securities $ 2,793,972 $ 39,101 $ (8,470 ) $ 2,824,603 Other agencies 356,500 3,968 (302 ) 360,166 Total U.S. Government backed agencies 3,150,472 43,069 (8,772 ) 3,184,769 Municipal securities 7,216 — (78 ) 7,138 Total held-to-maturity securities $ 3,157,688 $ 43,069 $ (8,850 ) $ 3,191,907 Unrealized (dollar amounts in thousands) Amortized Cost Gross Gains Gross Losses Fair Value December 31, 2014 Federal Agencies: Mortgage-backed securities $ 3,161,361 $ 24,832 $ (21,736 ) $ 3,164,457 Other agencies 210,563 1,251 (1,150 ) 210,664 Total U.S. Government backed agencies 3,371,924 26,083 (22,886 ) 3,375,121 Municipal securities 7,981 — (387 ) 7,594 Total held-to-maturity securities $ 3,379,905 $ 26,083 $ (23,273 ) $ 3,382,715 The following tables provide detail on held-to-maturity securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position, at September 30, 2015 and December 31, 2014 : Less than 12 Months Over 12 Months Total (dollar amounts in thousands ) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses September 30, 2015 Federal Agencies: Mortgage-backed securities $ 286,835 $ (1,200 ) $ 372,269 $ (7,270 ) $ 659,104 $ (8,470 ) Other agencies 110,529 (272 ) 7,073 (30 ) 117,602 (302 ) Total U.S. Government backed securities 397,364 (1,472 ) 379,342 (7,300 ) 776,706 (8,772 ) Municipal securities — — 7,138 (78 ) 7,138 (78 ) Total temporarily impaired securities $ 397,364 $ (1,472 ) $ 386,480 $ (7,378 ) $ 783,844 $ (8,850 ) Less than 12 Months Over 12 Months Total (dollar amounts in thousands ) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2014 Federal Agencies: Mortgage-backed securities $ 707,934 $ (5,550 ) $ 622,026 $ (16,186 ) $ 1,329,960 $ (21,736 ) Other agencies 36,956 (198 ) 71,731 (952 ) 108,687 (1,150 ) Total U.S. Government backed securities 744,890 (5,748 ) 693,757 (17,138 ) 1,438,647 (22,886 ) Municipal securities 7,594 (387 ) — — 7,594 (387 ) Total temporarily impaired securities $ 752,484 $ (6,135 ) $ 693,757 $ (17,138 ) $ 1,446,241 $ (23,273 ) Security Impairment Huntington evaluates the held-to-maturity securities portfolio on a quarterly basis for impairment. Impairment would exist when the present value of the expected cash flows is not sufficient to recover the entire amortized cost basis at the balance sheet date. Under these circumstances, any impairment would be recognized in earnings. As of September 30, 2015 , Management has evaluated held-to-maturity securities with unrealized losses for impairment and concluded no OTTI is required. |
LOAN SALES AND SECURITIZATIONS
LOAN SALES AND SECURITIZATIONS | 9 Months Ended |
Sep. 30, 2015 | |
Transfers and Servicing [Abstract] | |
LOAN SALES AND SECURITIZATIONS | LOAN SALES AND SECURITIZATIONS Residential Mortgage Loans The following table summarizes activity relating to residential mortgage loans sold with servicing retained for the three-month and nine-month periods ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Residential mortgage loans sold with servicing retained $ 920,974 $ 654,747 $ 2,490,070 $ 1,703,056 Pretax gains resulting from above loan sales (1) 22,529 16,781 64,103 43,853 (1) Recorded in mortgage banking income. A MSR is established only when the servicing is contractually separated from the underlying mortgage loans by sale or securitization of the loans with servicing rights retained. At initial recognition, the MSR asset is established at its fair value using assumptions consistent with assumptions used to estimate the fair value of existing MSRs. At the time of initial capitalization, MSRs may be recorded using either the fair value method or the amortization method. The election of the fair value method or amortization method is made at the time each servicing class is established. Subsequently, servicing rights are accounted for based on the methodology chosen for each respective servicing class. Any increase or decrease in the fair value of MSRs carried under the fair value method, as well as amortization or impairment of MSRs recorded using the amortization method, during the period is recorded as an increase or decrease in mortgage banking income, which is reflected in noninterest income in the Unaudited Condensed Consolidated Statements of Income. The following tables summarize the changes in MSRs recorded using either the fair value method or the amortization method for the three-month and nine-month periods ended September 30, 2015 and 2014 : Fair Value Method: Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Fair value, beginning of period $ 20,681 $ 26,747 $ 22,786 $ 34,236 Change in fair value during the period due to: Time decay (1) (324 ) (467 ) (996 ) (1,848 ) Payoffs (2) (651 ) (1,343 ) (2,465 ) (4,869 ) Changes in valuation inputs or assumptions (3) (1,641 ) 501 (1,260 ) (2,081 ) Fair value, end of period: $ 18,065 $ 25,438 $ 18,065 $ 25,438 Weighted-average life (years) 4.9 5.2 4.9 5.2 (1) Represents decrease in value due to passage of time, including the impact from both regularly scheduled loan principal payments and partial loan paydowns. (2) Represents decrease in value associated with loans that paid off during the period. (3) Represents change in value resulting primarily from market-driven changes in interest rates and prepayment speeds. Amortization Method: Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Carrying value, beginning of period $ 143,127 $ 133,113 $ 132,813 $ 128,064 New servicing assets created 9,918 7,173 26,710 17,802 Servicing assets acquired — — — 3,505 Impairment (charge) / recovery (12,472 ) 487 (7,492 ) (1,573 ) Amortization and other (5,106 ) (4,311 ) (16,564 ) (11,336 ) Carrying value, end of period $ 135,467 $ 136,462 $ 135,467 $ 136,462 Fair value, end of period $ 135,499 $ 141,976 $ 135,499 $ 141,976 Weighted-average life (years) 6.0 6.7 6.0 6.7 MSRs do not trade in an active, open market with readily observable prices. While sales of MSRs occur, the precise terms and conditions are typically not readily available. Therefore, the fair value of MSRs is estimated using a discounted future cash flow model. The model considers portfolio characteristics, contractually specified servicing fees and assumptions related to prepayments, delinquency rates, late charges, other ancillary revenues, costs to service, and other economic factors. Changes in the assumptions used may have a significant impact on the valuation of MSRs. MSR values are very sensitive to movements in interest rates as expected future net servicing income depends on the projected outstanding principal balances of the underlying loans, which can be greatly impacted by the level of prepayments. Huntington hedges the value of certain MSRs against changes in value attributable to changes in interest rates using a combination of derivative instruments and trading securities. For MSRs under the fair value method, a summary of key assumptions and the sensitivity of the MSR value at September 30, 2015 and December 31, 2014 , to changes in these assumptions follows: September 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to (dollar amounts in thousands) Actual 10% adverse change 20% adverse change Actual 10% adverse change 20% adverse change Constant prepayment rate (annualized) 14.30 % $ (880 ) $ (1,688 ) 15.60 % $ (1,176 ) $ (2,248 ) Spread over forward interest rate swap rates 599 bps (566 ) (1,097 ) 546 bps (699 ) (1,355 ) For MSRs under the amortization method, a summary of key assumptions and the sensitivity of the MSR value at September 30, 2015 and December 31, 2014 , to changes in these assumptions follows: September 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to (dollar amounts in thousands) Actual 10% adverse change 20% adverse change Actual 10% adverse change 20% adverse change Constant prepayment rate (annualized) 11.20 % $ (5,300 ) $ (10,187 ) 11.40 % $ (5,289 ) $ (10,164 ) Spread over forward interest rate swap rates 971 bps (4,291 ) (8,303 ) 856 bps (4,343 ) (8,403 ) Total servicing, late and other ancillary fees, net of amortization of capitalized servicing assets included in mortgage banking income amounted to $4.7 million and $4.7 million for the three-month periods ended September 30, 2015 and 2014 , respectively. For the nine-month periods ended September 30, 2015 and 2014 , total net servicing fees included in mortgage banking income were $12.3 million and $16.5 million , respectively. The unpaid principal balance of residential mortgage loans serviced for third parties was $15.9 billion and $15.6 billion at September 30, 2015 and December 31, 2014 , respectively. Automobile Loans and Leases The following table summarizes activity relating to automobile loans sold and/or securitized with servicing retained for the three-month and nine-month periods ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Automobile loans securitized with servicing retained $ — $ — $ 750,000 $ — Pretax gains resulting from above loan sales (1) — — 5,333 — (1) Recorded in gain on sale of loans. In the 2015 second quarter, the UPB of automobile loans totaling $750.0 million were transferred to a trust in a securitization transaction in exchange for $780.1 million of net proceeds. The securitization and resulting sale of all underlying securities qualified for sale accounting. As a result of this transaction, Huntington recognized a $5.3 million gain which is reflected in gain on sale of loans on the Condensed Consolidated Statement of Income and recorded an $11.2 million servicing asset which is reflected in accrued income and other assets on the Condensed Consolidated Balance Sheet. Huntington has retained servicing responsibilities on sold automobile loans and receives annual servicing fees and other ancillary fees on the outstanding loan balances. Automobile loan servicing rights are accounted for using the amortization method. A servicing asset is established at fair value at the time of the sale. The servicing asset is then amortized against servicing income. Impairment, if any, is recognized when carrying value exceeds the fair value as determined by calculating the present value of expected net future cash flows. The primary risk characteristic for measuring servicing assets is payoff rates of the underlying loan pools. Valuation calculations rely on the predicted payoff assumption and, if actual payoff is quicker than expected, then future value would be impaired. Changes in the carrying value of automobile loan servicing rights for the three-month and nine-month periods ended September 30, 2015 and 2014 , and the fair value at the end of each period were as follows: Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Carrying value, beginning of period $ 14,330 $ 11,515 $ 6,898 $ 17,672 New servicing assets created — — 11,180 — Amortization and other (2,990 ) (2,476 ) (6,738 ) (8,633 ) Carrying value, end of period $ 11,340 $ 9,039 $ 11,340 $ 9,039 Fair value, end of period $ 11,341 $ 9,130 $ 11,341 $ 9,130 Weighted-average life (years) 3.3 2.8 3.3 2.8 A summary of key assumptions and the sensitivity of the automobile loan servicing rights value to changes in these assumptions at September 30, 2015 and December 31, 2014 follows: September 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to (dollar amounts in thousands) Actual 10% adverse change 20% adverse change Actual 10% adverse change 20% adverse change Constant prepayment rate (annualized) 15.90 % $ (374 ) $ (672 ) 14.62 % $ (305 ) $ (496 ) Spread over forward interest rate swap rates 500 bps (8 ) (16 ) 500 bps (2 ) (4 ) Servicing income, net of amortization of capitalized servicing assets and impairment, amounted to $1.5 million and $1.9 million for the three-month periods ending September 30, 2015 , and 2014 , respectively. For the nine-month periods ended September 30, 2015 and 2014 , total servicing income, net of amortization of capitalized servicing assets and impairment, were $4.3 million and $6.0 million , respectively. The unpaid principal balance of automobile loans serviced for third parties was $1.0 billion and $0.8 billion at September 30, 2015 and December 31, 2014 , respectively. Small Business Association (SBA) Portfolio The following table summarizes activity relating to SBA loans sold with servicing retained for the three-month and nine-month periods ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 SBA loans sold with servicing retained $ 49,216 $ 63,470 $ 145,150 $ 149,571 Pretax gains resulting from above loan sales (1) 3,712 7,432 11,981 17,204 (1) Recorded in gain on sale of loans. Huntington has retained servicing responsibilities on sold SBA loans and receives annual servicing fees on the outstanding loan balances. SBA loan servicing rights are accounted for using the amortization method. A servicing asset is established at fair value at the time of the sale using a discounted future cash flow model. The servicing asset is then amortized against servicing income. Impairment, if any, is recognized when carrying value exceeds the fair value as determined by calculating the present value of expected net future cash flows. The following tables summarize the changes in the carrying value of the servicing asset for the three-month and nine-month periods ended September 30, 2015 and 2014 , and the fair value at the end of each period were as follows: Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Carrying value, beginning of period $ 18,272 $ 17,192 $ 18,536 $ 16,865 New servicing assets created 1,684 2,181 4,980 5,042 Amortization and other (1,594 ) (1,458 ) (5,154 ) (3,992 ) Carrying value, end of period $ 18,362 $ 17,915 $ 18,362 $ 17,915 Fair value, end of period $ 20,906 $ 17,915 $ 20,906 $ 17,915 Weighted-average life (years) 3.3 3.5 3.3 3.5 A summary of key assumptions and the sensitivity of the SBA loan servicing rights value to changes in these assumptions at September 30, 2015 and December 31, 2014 follows: September 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to (dollar amounts in thousands) Actual 10% adverse change 20% adverse change Actual 10% adverse change 20% adverse change Constant prepayment rate (annualized) 7.80 % $ (299 ) $ (593 ) 5.60 % $ (211 ) $ (419 ) Discount rate 1,500 bps (559 ) (1,096 ) 1,500 bps (563 ) (1,102 ) Servicing income, net of amortization of capitalized servicing assets, amounted to $2.1 million and $1.9 million for the three-month periods ending September 30, 2015 , and 2014 , respectively. For the nine-month periods ended September 30, 2015 and 2014 , total servicing income, net of amortization of capitalized servicing assets, was $6.2 million and $5.4 million , respectively. The unpaid principal balance of SBA loans serviced for third parties was $964.2 million and $898.0 million at September 30, 2015 and December 31, 2014 , respectively. |
GOODWILL AND OTHER INTANGIBLE A
GOODWILL AND OTHER INTANGIBLE ASSETS | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS Business segments are based on segment leadership structure, which reflects how segment performance is monitored and assessed. We have five major business segments: Retail and Business Banking, Commercial Banking, Automobile Finance and Commercial Real Estate (AFCRE), Regional Banking and The Huntington Private Client Group (RBHPCG), and Home Lending. A Treasury / Other function includes, along with technology and operations, other unallocated assets, liabilities, revenue, and expense. A rollforward of goodwill by business segment for the first nine-month period of 2015 is presented in the table below: (dollar amounts in thousands) Retail & Commercial AFCRE RBHPCG Home Treasury/ Huntington Balance, beginning of period $ 368,097 $ 59,594 $ — $ 90,012 $ — $ 4,838 $ 522,541 Goodwill acquired during the period — 155,828 — — — — 155,828 Adjustments — — — (1,500 ) — — (1,500 ) Impairment — — — — — — — Balance, end of period $ 368,097 $ 215,422 $ — $ 88,512 $ — $ 4,838 $ 676,869 On March 31, 2015, Huntington completed its acquisition of Macquarie Equipment Finance, which was re-branded Huntington Technology Finance. As part of the transaction, Huntington recorded $155.8 million of goodwill and $8.2 million of other intangible assets. For additional information on the acquisition, see Business Combinations footnote. During the 2015 third quarter, Huntington adjusted the goodwill in the RBHPCG segment related to a held for sale disposal group at September 30, 2015. The amount was adjusted based on relative fair value methodology. Goodwill is not amortized but is evaluated for impairment on an annual basis at October 1 of each year or whenever events or changes in circumstances indicate the carrying value may not be recoverable. As a result of the 2014 first quarter reorganization in our reported business segments, goodwill was reallocated among the business segments. Immediately following the reallocation, impairment of $3.0 million was recorded in the Home Lending reporting segment. At September 30, 2015 and December 31, 2014 , Huntington’s other intangible assets consisted of the following: (dollar amounts in thousands) Gross Accumulated Net September 30, 2015 Core deposit intangible $ 400,058 $ (383,459 ) $ 16,599 Customer relationship 116,120 (74,025 ) 42,095 Other 25,164 (25,065 ) 99 Total other intangible assets $ 541,342 $ (482,549 ) $ 58,793 December 31, 2014 Core deposit intangible $ 400,058 $ (366,907 ) $ 33,151 Customer relationship 107,920 (66,534 ) 41,386 Other 25,164 (25,030 ) 134 Total other intangible assets $ 533,142 $ (458,471 ) $ 74,671 The estimated amortization expense of other intangible assets for the remainder of 2015 and the next five years is as follows: (dollar amounts in thousands) Amortization Expense 2015 $ 3,786 2016 14,316 2017 12,908 2018 11,135 2019 9,825 2020 3,076 |
LONG-TERM DEBT
LONG-TERM DEBT | 9 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
LONG-TERM DEBT | LONG-TERM DEBT In August 2015, the Bank issued $500.0 million of senior notes at 99.580% of face value. The senior bank note issuances mature on August 20, 2020 and have a fixed coupon rate of 2.875% . In June 2015, the Bank issued $750.0 million of senior notes at 99.711% of face value. The senior bank note issuances mature on June 30, 2018 and have a fixed coupon rate of 2.00% . On March 31, 2015, Huntington completed its acquisition of Huntington Technology Finance. As part of the acquisition, Huntington assumed $293.4 million of non-recourse debt with various financial institutions and maturity dates. The effective interest rate on the non-recourse debt is 3.20% . Huntington also assumed $254.8 million of debt associated with two securitizations. The securitization debt has various classes and associated maturity dates and has an effective interest rate of 1.70% . In February 2015, the Bank issued $500.0 million of senior notes at 99.860% of face value. The senior bank note issuances mature on February 26, 2018 and have a fixed coupon rate of 1.70% . Also, in February 2015, the Bank issued $500.0 million of senior notes at 99.874% of face value. The senior bank note issuances mature on April 1, 2020 and have a fixed coupon rate of 2.40% . Both senior note issuances may be redeemed one month prior to the maturity date at 100% of principal plus accrued and unpaid interest. |
OTHER COMPREHENSIVE INCOME
OTHER COMPREHENSIVE INCOME | 9 Months Ended |
Sep. 30, 2015 | |
Equity [Abstract] | |
OTHER COMPREHENSIVE INCOME | OTHER COMPREHENSIVE INCOME The components of other comprehensive income for the three-month and nine-month periods ended September 30, 2015 and 2014 , were as follows: Three Months Ended Tax (Expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 131 $ (46 ) $ 85 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period 65,398 (23,136 ) 42,262 Less: Reclassification adjustment for net losses (gains) included in net income (3,732 ) 1,306 (2,426 ) Net change in unrealized holding gains (losses) on available-for-sale debt securities 61,797 (21,876 ) 39,921 Net change in unrealized holding gains (losses) on available-for-sale equity securities (177 ) 62 (115 ) Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period 12,770 (4,469 ) 8,301 Less: Reclassification adjustment for net (gains) losses included in net income (73 ) 26 (47 ) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships 12,697 (4,443 ) 8,254 Net change in pension and other post-retirement obligations (3,305 ) 1,157 (2,148 ) Total other comprehensive income (loss) $ 71,012 $ (25,100 ) $ 45,912 Three Months Ended Tax (Expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 3,289 $ (1,163 ) $ 2,126 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period (14,000 ) 4,908 (9,092 ) Less: Reclassification adjustment for net losses (gains) included in net income 250 (88 ) 162 Net change in unrealized holding gains (losses) on available-for-sale debt securities (10,461 ) 3,657 (6,804 ) Net change in unrealized holding gains (losses) on available-for-sale equity securities 18 (6 ) 12 Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period (32,512 ) 11,379 (21,133 ) Less: Reclassification adjustment for net (gains) losses included in net income (148 ) 52 (96 ) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships (32,660 ) 11,431 (21,229 ) Net change in pension and other post-retirement obligations 8,818 (3,086 ) 5,732 Total other comprehensive income (loss) $ (34,285 ) $ 11,996 $ (22,289 ) Nine Months Ended Tax (expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 18,866 $ (6,671 ) $ 12,195 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period 73,782 (26,240 ) 47,542 Less: Reclassification adjustment for net losses (gains) included in net income (3,973 ) 1,391 (2,582 ) Net change in unrealized holding gains (losses) on available-for-sale debt securities 88,675 (31,520 ) 57,155 Net change in unrealized holding gains (losses) on available-for-sale equity securities (152 ) 53 (99 ) Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period 40,088 (14,031 ) 26,057 Less: Reclassification adjustment for net (gains) losses included in net income (334 ) 117 (217 ) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships 39,754 (13,914 ) 25,840 Net change in pension and other post-retirement obligations (527 ) 184 (343 ) Total other comprehensive income (loss) $ 127,750 $ (45,197 ) $ 82,553 Nine Months Ended Tax (expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 11,949 $ (4,225 ) $ 7,724 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period 48,682 (17,439 ) 31,243 Less: Reclassification adjustment for net losses (gains) included in net income (15,409 ) 5,393 (10,016 ) Net change in unrealized holding gains (losses) on available-for-sale debt securities 45,222 (16,271 ) 28,951 Net change in unrealized holding gains (losses) on available-for-sale equity securities 394 (138 ) 256 Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period (2,454 ) 858 (1,596 ) Less: Reclassification adjustment for net (gains) losses included in net income (3,853 ) 1,349 (2,504 ) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships (6,307 ) 2,207 (4,100 ) Net change in pension and other post-retirement obligations 10,594 (3,708 ) 6,886 Total other comprehensive income (loss) $ 49,903 $ (17,910 ) $ 31,993 The following table presents activity in accumulated other comprehensive income (loss), net of tax, for the nine -month periods ended September 30, 2015 and 2014 : (dollar amounts in thousands) Unrealized gains and (losses) on debt securities (1) Unrealized gains and (losses) on equity securities Unrealized gains and (losses) on cash flow hedging derivatives Unrealized gains (losses) for pension and other post- retirement obligations Total December 31, 2013 $ (39,234 ) $ 292 $ (18,844 ) $ (156,223 ) $ (214,009 ) Other comprehensive income before reclassifications 38,967 256 (1,596 ) — 37,627 Amounts reclassified from accumulated OCI to earnings (10,016 ) — (2,504 ) 6,886 (5,634 ) Period change 28,951 256 (4,100 ) 6,886 31,993 September 30, 2014 $ (10,283 ) $ 548 $ (22,944 ) $ (149,337 ) $ (182,016 ) December 31, 2014 $ 15,137 $ 484 $ (12,233 ) $ (225,680 ) $ (222,292 ) Other comprehensive income before reclassifications 59,737 (99 ) 26,057 — 85,695 Amounts reclassified from accumulated OCI to earnings (2,582 ) — (217 ) (343 ) (3,142 ) Period change 57,155 (99 ) 25,840 (343 ) 82,553 September 30, 2015 $ 72,292 $ 385 $ 13,607 $ (226,023 ) $ (139,739 ) (1) Amounts at September 30, 2015 and December 31, 2014 include $1.0 million and $0.8 million , respectively, of net unrealized losses on securities transferred from the available-for-sale securities portfolio to the held-to-maturity securities portfolio. The net unrealized gains will be recognized in earnings over the remaining life of the security using the effective interest method. The following table presents the reclassification adjustments out of accumulated OCI included in net income and the impacted line items as listed on the Unaudited Condensed Consolidated Statements of Income for the three and nine month periods ended September 30, 2015 and 2014 : Reclassifications out of accumulated OCI Accumulated OCI components Amounts reclassified from accumulated OCI Location of net gain (loss) reclassified from accumulated OCI into earnings Three Months Ended (dollar amounts in thousands) September 30, 2015 September 30, 2014 Gains (losses) on debt securities: Amortization of unrealized gains (losses) $ 69 $ 138 Interest income - held-to-maturity securities - taxable Realized gain (loss) on sale of securities 6,103 (388 ) Noninterest income - net gains (losses) on sale of securities OTTI recorded (2,440 ) — Noninterest income - net gains (losses) on sale of securities 3,732 (250 ) Total before tax (1,306 ) 88 Tax (expense) benefit $ 2,426 $ (162 ) Net of tax Gains (losses) on cash flow hedging relationships: Interest rate contracts $ 73 $ 148 Interest income - loans and leases Interest rate contracts — — Noninterest income - other income 73 148 Total before tax (26 ) (52 ) Tax (expense) benefit $ 47 $ 96 Net of tax Amortization of defined benefit pension and post-retirement items: Actuarial gains (losses) $ 3,305 $ (8,818 ) Noninterest expense - personnel costs 3,305 (8,818 ) Total before tax (1,157 ) 3,086 Tax (expense) benefit $ 2,148 $ (5,732 ) Net of tax Reclassifications out of accumulated OCI Accumulated OCI components Amounts reclassified from accumulated OCI Location of net gain (loss) reclassified from accumulated OCI into earnings Nine Months Ended (dollar amounts in thousands) September 30, 2015 September 30, 2014 Gains (losses) on debt securities: Amortization of unrealized gains (losses) $ 269 $ 476 Interest income - held-to-maturity securities - taxable Realized gain (loss) on sale of securities 6,144 14,933 Noninterest income - net gains (losses) on sale of securities OTTI recorded (2,440 ) — Noninterest income - net gains (losses) on sale of securities 3,973 15,409 Total before tax (1,391 ) (5,393 ) Tax (expense) benefit $ 2,582 $ 10,016 Net of tax Gains (losses) on cash flow hedging relationships: Interest rate contracts $ 323 $ 3,935 Interest income - loans and leases Interest rate contracts 11 (82 ) Noninterest income - other income 334 3,853 Total before tax (117 ) (1,349 ) Tax (expense) benefit $ 217 $ 2,504 Net of tax Amortization of defined benefit pension and post-retirement items: Actuarial gains (losses) $ 527 $ (10,594 ) Noninterest expense - personnel costs 527 (10,594 ) Total before tax (184 ) 3,708 Tax (expense) benefit $ 343 $ (6,886 ) Net of tax |
SHAREHOLDERS' EQUITY SHAREHOLDE
SHAREHOLDERS' EQUITY SHAREHOLDERS' EQUITY (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Stockholders' Equity Note [Abstract] | |
SHAREHOLDERS' EQUITY | SHAREHOLDERS’ EQUITY 2015 Share Repurchase Program During the three-month period ended September 30, 2015 Huntington repurchased a total of 6.8 million shares at a weighted average share price of $10.66 . Huntington repurchased a total of 20.5 million shares of common stock during the nine -month period ended September 30, 2015 , at a weighted average price of $10.76 . On March 11, 2015, Huntington announced that the Federal Reserve did not object to the proposed capital actions included in Huntington’s capital plan submitted to the Federal Reserve in January 2015. These actions included a potential repurchase of up to $366 million of common stock from the second quarter of 2015 through the second quarter of 2016. Purchases of common stock may include open market purchases, privately negotiated transactions, and accelerated repurchase programs. Huntington’s board of directors authorized a share repurchase program consistent with Huntington’s capital plan. This program replaced the previously authorized share repurchase program authorized by Huntington’s board of directors in 2014. 2014 Share Repurchase Program During the three months ended September 30, 2014 , Huntington repurchased a total of 5.4 million shares at a weighted average share price of $9.70 . Huntington repurchased a total of 32.1 million shares of common stock during the nine months ended September 30, 2014 , at a weighted average price of $9.34 . |
EARNINGS PER SHARE
EARNINGS PER SHARE | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | EARNINGS PER SHARE Basic earnings per share is the amount of earnings (adjusted for dividends declared on preferred stock) available to each share of common stock outstanding during the reporting period. Diluted earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares. Potentially dilutive common shares include incremental shares issued for stock options, restricted stock units and awards, distributions from deferred compensation plans, and the conversion of the Company’s convertible preferred. Potentially dilutive common shares are excluded from the computation of diluted earnings per share in periods in which the effect would be antidilutive. For diluted earnings per share, net income available to common shares can be affected by the conversion of the Company’s convertible preferred stock. Where the effect of this conversion would be dilutive, net income available to common shareholders is adjusted by the associated preferred dividends and deemed dividend. The calculation of basic and diluted earnings per share for three-month and nine -month periods ended September 30, 2015 and 2014 , was as follows: Three Months Ended Nine Months Ended (dollar amounts in thousands, except per share amounts) 2015 2014 2015 2014 Basic earnings per common share: Net income $ 152,588 $ 155,016 $ 514,648 $ 468,778 Preferred stock dividends (7,968 ) (7,964 ) (23,901 ) (23,891 ) Net income available to common shareholders $ 144,620 $ 147,052 $ 490,747 $ 444,887 Average common shares issued and outstanding 800,883 816,497 805,851 820,884 Basic earnings per common share $ 0.18 $ 0.18 $ 0.61 $ 0.54 Diluted earnings per common share: Net income available to common shareholders $ 144,620 $ 147,052 $ 490,747 $ 444,887 Effect of assumed preferred stock conversion — — — — Net income applicable to diluted earnings per share $ 144,620 $ 147,052 $ 490,747 $ 444,887 Average common shares issued and outstanding 800,883 816,497 805,851 820,884 Dilutive potential common shares: Stock options and restricted stock units and awards 11,285 11,367 11,554 11,397 Shares held in deferred compensation plans 1,997 1,506 1,872 1,443 Other 161 253 181 203 Dilutive potential common shares: 13,443 13,126 13,607 13,043 Total diluted average common shares issued and outstanding 814,326 829,623 819,458 833,927 Diluted earnings per common share $ 0.18 $ 0.18 $ 0.60 $ 0.53 For the three-month periods ended September 30, 2015 and 2014 , approximately 1.7 million and 2.6 million , respectively, of options to purchase shares of common stock were not included in the computation of diluted earnings per share because the effect would be antidilutive. For the nine -month periods ended September 30, 2015 and 2014, approximately 1.5 million and 2.7 million were not included, respectively. |
BENEFIT PLANS
BENEFIT PLANS | 9 Months Ended |
Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
BENEFIT PLANS | . BENEFIT PLANS Huntington sponsors the Plan, a non-contributory defined benefit pension plan covering substantially all employees hired or rehired prior to January 1, 2010. The Plan, which was modified in 2013 and no longer accrues service benefits to participants, provides benefits based upon length of service and compensation levels. The funding policy of Huntington is to contribute an annual amount that is at least equal to the minimum funding requirements but not more than the amount deductible under the Internal Revenue Code. There is no required minimum contribution for 2015 . During the 2013 third quarter, the board of directors approved, and management communicated, a curtailment of the Company’s pension plan effective December 31, 2013. In addition, Huntington has an unfunded defined benefit post-retirement plan that provides certain healthcare and life insurance benefits to retired employees who have attained the age of 55 and have at least 10 years of vesting service under this plan. For additional information on benefit plans, see the Benefit Plan footnote in our 2014 Form 10-K. On January 1, 2015, Huntington terminated the Company sponsored retiree health care plan for Medicare eligible retirees and their dependents. Instead, Huntington partnered with a third party to assist the retirees and their dependents in selecting individual policies from a variety of carriers on a private exchange. This plan amendment resulted in a measurement of the liability at the approval date. The result of the measurement was a $5.2 million reduction of the liability and increase in accumulated other comprehensive income during the 2014 third quarter. It also resulted in a reduction of expense over the estimated life of plan participants. The following table shows the components of net periodic benefit expense of the Plan and the Post-Retirement Benefit Plan: Pension Benefits Post Retirement Benefits Three Months Ended September 30, Three Months Ended September 30, (dollar amounts in thousands) 2015 2014 2015 2014 Service cost (1) $ 457 $ 435 $ — $ — Interest cost 7,984 8,099 142 258 Expected return on plan assets (11,044 ) (11,446 ) — — Amortization of prior service cost — — (492 ) (338 ) Amortization of gain (loss) 1,984 1,442 (116 ) (144 ) Settlements 2,825 2,500 (2) (3,090 ) — Benefit expense $ 2,206 $ 1,030 $ (3,556 ) $ (224 ) (1) Since no participants will be earning benefits after December 31, 2013, the 2014 and 2015 service cost represents only administrative expenses. (2) During the 2015 third quarter, Huntington transferred the retiree life insurance obligation in a non-participating contract to an insurance carrier. Pension Benefits Post Retirement Benefits Nine Months Ended September 30, Nine Months Ended September 30, (dollar amounts in thousands) 2015 2014 2015 2014 Service cost (1) $ 1,372 $ 1,305 $ — $ — Interest cost 23,953 24,299 425 776 Expected return on plan assets (33,131 ) (34,338 ) — — Amortization of prior service cost — — (1,476 ) (1,016 ) Amortization of gain (loss) 5,950 4,326 (348 ) (432 ) Settlements 8,475 7,500 (2) (3,090 ) — Benefit expense $ 6,619 $ 3,092 $ (4,489 ) $ (672 ) (1) Since no participants will be earning benefits after December 31, 2013, the 2014 and 2015 service cost represents only administrative expenses. (2) During the 2015 third quarter, Huntington transferred the retiree life insurance obligation in a non-participating contract to an insurance carrier. The Bank, as trustee, held all Plan assets at September 30, 2015 and December 31, 2014 . The Plan assets consisted of the following investments: Fair Value (dollar amounts in thousands) September 30, 2015 December 31, 2014 Cash equivalents: Huntington funds—money market $ 8,937 1 % $ 16,136 2 % Fixed income: Corporate obligations 205,806 34 218,077 33 U.S. government obligations 61,987 11 62,627 10 Mutual funds—fixed income 34,123 6 34,761 5 U.S. government agencies 7,203 1 7,445 1 Equities: Mutual funds—equities 134,939 23 147,191 23 Other common stock 114,594 19 118,970 18 Huntington funds 20,243 3 37,920 6 Exchange traded funds 6,306 1 6,840 1 Limited partnerships 5,431 1 3,046 1 Fair value of plan assets $ 599,569 100 % $ 653,013 100 % Investments of the Plan are accounted for at cost on the trade date and are reported at fair value. The Plan’s investments at September 30, 2015 , are classified as Level 1 within the fair value hierarchy, except for corporate obligations, U.S. government obligations, and U.S. government agencies, which are classified as Level 2, and limited partnerships, which are classified as Level 3. In general, investments of the Plan are exposed to various risks, such as interest rate risk, credit risk, and overall market volatility. Due to the level of risk associated with certain investments, it is reasonably possible changes in the values of investments will occur in the near term and such changes could materially affect the amounts reported in the Plan assets. At September 30, 2015 , Plan assets were invested 47% in equity investments, 52% in bonds, and 1% in cash with an average duration of 12.4 years on bond investments. The estimated life of benefit obligations was 12.8 years. Although it may fluctuate with market conditions, Management has targeted a long-term allocation of Plan assets of 20% to 50% in equity investments and 80% to 50% in bond investments. The allocation of Plan assets between equity investments and fixed income investments will change from time to time with the allocation to fixed income investments increasing as the funding level increases. Huntington also sponsors other nonqualified retirement plans, the most significant being the SERP and the SRIP. The SERP provides certain former officers and directors, and the SRIP provides certain current and former officers and directors of Huntington and its subsidiaries with defined pension benefits in excess of limits imposed by federal tax law. During the 2013 third quarter, the board of directors approved, and management communicated, a curtailment of the Company’s SRIP plan effective December 31, 2013. Huntington has a defined contribution plan that is available to eligible employees. Huntington matches participant contributions, up to the first 4% of base pay contributed to the Plan. For 2014 , a discretionary profit-sharing contribution equal to 1% of eligible participants’ 2014 base pay was awarded during the 2015 first quarter. The following table shows the costs of providing the SERP, SRIP, and defined contribution plans: Three Months Ended September 30, Nine Months Ended September 30, (dollar amounts in thousands) 2015 2014 2015 2014 SERP & SRIP $ 578 $ 504 $ 1,735 $ 1,467 Defined contribution plan 8,224 8,325 23,747 23,239 Benefit cost $ 8,802 $ 8,829 $ 25,482 $ 24,706 |
INCOME TAXES
INCOME TAXES | 9 Months Ended |
Sep. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | INCOME TAXES Provision for Income Taxes The provision for income taxes in the 2015 third quarter was $47.0 million . This compared with a provision for income taxes of $53.9 million in the 2014 third quarter . The provision for income taxes for the nine-month periods ended September 30, 2015 and 2014 was $165.1 million and $163.4 million , respectively. All periods included the benefits from tax-exempt income, tax-advantaged investments, release of capital loss carryforward valuation allowance, general business credits, and investments in qualified affordable housing projects. At September 30, 2015 there is no capital loss carryforward valuation allowance. The net federal deferred tax asset was $20.4 million and the net state deferred tax asset was $41.1 million at September 30, 2015 . Uncertain Tax Positions The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state, city, and foreign jurisdictions. Federal income tax audits have been completed through 2009. The IRS is currently examining our 2010 and 2011 consolidated federal income tax returns. Various state and other jurisdictions remain open to examination, including Ohio, Kentucky, Indiana, Michigan, Pennsylvania, West Virginia, and Illinois. Huntington accounts for uncertainties in income taxes in accordance with ASC 740, Income Taxes. At September 30, 2015 , Huntington had gross unrecognized tax benefits of $26.1 million in income tax liability related to uncertain tax positions. Total interest accrued on the unrecognized tax benefits was $0.4 million as of September 30, 2015 . This compared with gross unrecognized tax benefits of $1.2 million at December 31, 2014 and total interest accrued of $0.2 million at December 31, 2014 . Huntington recognizes interest and penalties on income tax assessments or income tax refunds in the financial statements as a component of provision for income taxes. Due to the complexities of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the current estimate of the tax liabilities. Huntington does not anticipate the total amount of gross unrecognized tax benefits to significantly change within the next 12 months. |
FAIR VALUES OF ASSETS AND LIABI
FAIR VALUES OF ASSETS AND LIABILITIES | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUES OF ASSETS AND LIABILITIES | FAIR VALUES OF ASSETS AND LIABILITIES Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A three-level valuation hierarchy was established for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Transfers in and out of Level 1, 2, or 3 are recorded at fair value at the beginning of the reporting period. Following is a description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy. Mortgage loans held for sale Huntington elected to apply the fair value option for mortgage loans originated with the intent to sell which are included in loans held for sale. Mortgage loans held for sale are classified as Level 2 and are estimated using security prices for similar product types. Mortgage loans held for investment Initially, these mortgage loans were originated with the intent to sell and therefore classified as held for sale. In accordance with operating procedures, certain loans have been reclassified to loans held for investment. Mortgage loans held for investment are classified as Level 2 and the value is estimated using security prices for similar product types. Available-for-sale securities and trading account securities Securities accounted for at fair value include both the available-for-sale and trading portfolios. Huntington uses prices obtained from third party pricing services and recent trades to determine the fair value of securities. AFS and trading securities are classified as Level 1 using quoted market prices (unadjusted) in active markets for identical securities that Huntington has the ability to access at the measurement date. Less than 1% of the positions in these portfolios are Level 1, and consist of U.S. Treasury securities and money market mutual funds. When quoted market prices are not available, fair values are classified as Level 2 using quoted prices for similar assets in active markets, quoted prices of identical or similar assets in markets that are not active, and inputs that are observable for the asset, either directly or indirectly, for substantially the full term of the financial instrument. 81% of the positions in these portfolios are Level 2, and consist of U.S. Government and agency debt securities, agency mortgage backed securities, asset-backed securities, municipal securities and other securities. For Level 2 securities management uses various methods and techniques to corroborate prices obtained from the pricing service, including reference to dealer or other market quotes, and by reviewing valuations of comparable instruments. If relevant market prices are limited or unavailable, valuations may require significant management judgment or estimation to determine fair value, in which case the fair values are classified as Level 3. 19% of our positions are Level 3, and consist of private-label CMO securities, CDO-preferred CDO securities and municipal securities. A significant change in the unobservable inputs for these securities may result in a significant change in the ending fair value measurement of these securities. The municipal securities portion that is classified as Level 3 uses significant estimates to determine the fair value of these securities which results in greater subjectivity. The fair value is determined by utilizing third-party valuation services. The third party service provider reviews credit worthiness, prevailing market rates, analysis of similar securities, and projected cash flows. The third-party service provider also incorporates industry and general economic conditions into their analysis. Huntington evaluates the analysis provided for reasonableness. The private label CMO and CDO-preferred securities portfolios are classified as Level 3 and as such use significant estimates to determine the fair value of these securities which results in greater subjectivity. The private label CMO securities portfolios are subjected to a monthly review of the projected cash flows, while the cash flows of the CDO-preferred securities portfolio are reviewed quarterly. These reviews are supported with analysis from independent third parties, and are used as a basis for impairment analysis. Private-label CMO securities are collateralized by first-lien residential mortgage loans. The securities valuation methodology incorporates values obtained from a third party pricing specialist using a discounted cash flow approach and a proprietary pricing model and includes assumptions management believes market participants would use to value the securities under current market conditions. The model uses inputs such as estimated prepayment speeds, losses, recoveries, default rates that are implied by the underlying performance of collateral in the structure or similar structures, house price depreciation / appreciation rates that are based upon macroeconomic forecasts and discount rates that are implied by market prices for similar securities with similar collateral structures. The Private-label CMO securities were sold during the 2015 third quarter. CDO-preferred securities are CDOs backed by a pool of debt securities issued by financial institutions. The collateral generally consists of trust-preferred securities and subordinated debt securities issued by banks, bank holding companies, and insurance companies. A full cash flow analysis is used to estimate fair values and assess impairment for each security within this portfolio. We engage a third party pricing specialist with direct industry experience in CDO-preferred securities valuations to provide assistance in estimating the fair value and expected cash flows for each security in this portfolio. The PD of each issuer and the market discount rate are the most significant inputs in determining fair value. Management evaluates the PD assumptions provided by the third party pricing specialist by comparing the current PD to the assumptions used the previous quarter, actual defaults and deferrals in the current period, and trend data on certain financial ratios of the issuers. Huntington also evaluates the assumptions related to discount rates. Relying on cash flows is necessary because there was a lack of observable transactions in the market and many of the original sponsors or dealers for these securities are no longer able to provide a fair value. Automobile loans Effective January 1, 2010, Huntington consolidated an automobile loan securitization that previously had been accounted for as an off-balance sheet transaction. As a result, Huntington elected to account for these automobile loan receivables at fair value. The automobile loan receivables are classified as Level 3. The key assumptions used to determine the fair value of the automobile loan receivables included projections of expected losses and prepayment of the underlying loans in the portfolio and a market assumption of interest rate spreads. Certain interest rates are available from similarly traded securities while other interest rates are developed internally based on similar asset-backed security transactions in the market. During the first quarter of 2014, Huntington cancelled the 2009 and 2006 Automobile Trust. Huntington continues to report the associated automobile loan receivables at fair value due to its 2010 election. MSRs MSRs do not trade in an active market with readily observable prices. Accordingly, the fair value of these assets is classified as Level 3. Huntington determines the fair value of MSRs using an income approach model based upon our month-end interest rate curve and prepayment assumptions. The model utilizes assumptions to estimate future net servicing income cash flows, including estimates of time decay, payoffs, and changes in valuation inputs and assumptions. Servicing brokers and other sources of information (e.g. discussion with other mortgage servicers and industry surveys) are used to obtain information on market practice and assumptions. On at least a quarterly basis, third party marks are obtained from at least one service broker. Huntington reviews the valuation assumptions against this market data for reasonableness and adjusts the assumptions if deemed appropriate. Any recommended change in assumptions and / or inputs are presented for review to the Mortgage Price Risk Subcommittee for final approval. Derivative assets and liabilities Derivatives classified as Level 2 consist of foreign exchange and commodity contracts, which are valued using exchange traded swaps and futures market data. In addition, Level 2 includes interest rate contracts, which are valued using a discounted cash flow method that incorporates current market interest rates. Level 2 also includes exchange traded options and forward commitments to deliver mortgage-backed securities, which are valued using quoted prices. Derivatives classified as Level 3 consist primarily of interest rate lock agreements related to mortgage loan commitments. The determination of fair value includes assumptions related to the likelihood that a commitment will ultimately result in a closed loan, which is a significant unobservable assumption. A significant increase or decrease in the external market price would result in a significantly higher or lower fair value measurement. Short-term borrowings Short-term borrowings classified as Level 2 consist primarily of U.S. treasury bond securities sold under agreement to repurchase. These securities are borrowed from other institutions and must be repaid by purchasing the securities in the open market. Assets and Liabilities measured at fair value on a recurring basis Assets and liabilities measured at fair value on a recurring basis at September 30, 2015 and December 31, 2014 are summarized below: Fair Value Measurements at Reporting Date Using Netting Adjustments (1) September 30, 2015 (dollar amounts in thousands) Level 1 Level 2 Level 3 Assets Loans held for sale $ — $ 393,473 $ — $ — $ 393,473 Loans held for investment — 34,019 — — 34,019 Trading account securities: Federal agencies: Other agencies — — — — — Municipal securities — 5,932 — — 5,932 Other securities 32,500 177 — — 32,677 32,500 6,109 — — 38,609 Available-for-sale and other securities: U.S. Treasury securities 14,095 — — — 14,095 Federal agencies: Mortgage-backed — 6,764,213 — — 6,764,213 Federal agencies: Other agencies — 376,538 — — 376,538 Municipal securities — 377,535 1,950,556 — 2,328,091 Private-label CMO — — — — — Asset-backed securities — 712,837 101,172 — 814,009 Corporate debt — 449,089 — — 449,089 Other securities 12,501 3,914 — — 16,415 26,596 8,684,126 2,051,728 — 10,762,450 Automobile loans — — 2,563 — 2,563 MSRs — — 18,065 — 18,065 Derivative assets — 520,802 8,339 (77,557 ) 451,584 Liabilities Derivative liabilities — 316,452 555 (27,330 ) 289,677 Short-term borrowings — 511 — — 511 Fair Value Measurements at Reporting Date Using Netting Adjustments (1) December 31, 2014 (dollar amounts in thousands) Level 1 Level 2 Level 3 Assets Loans held for sale $ — $ 354,888 $ — $ — $ 354,888 Loans held for investment — 40,027 — — 40,027 Trading account securities: Federal agencies: Other agencies — 2,857 — — 2,857 Municipal securities — 5,098 — — 5,098 Other securities 33,121 1,115 — — 34,236 33,121 9,070 — — 42,191 Available-for-sale and other securities: U.S. Treasury securities 5,452 — — — 5,452 Federal agencies: Mortgage-backed — 5,322,701 — — 5,322,701 Federal agencies: Other agencies — 351,543 — — 351,543 Municipal securities — 450,976 1,417,593 — 1,868,569 Private-label CMO — 11,462 30,464 — 41,926 Asset-backed securities — 873,260 82,738 — 955,998 Corporate debt — 486,176 — — 486,176 Other securities 17,430 3,316 — — 20,746 22,882 7,499,434 1,530,795 — 9,053,111 Automobile loans — — 10,590 — 10,590 MSRs — — 22,786 — 22,786 Derivative assets — 449,775 4,064 (101,197 ) 352,642 Liabilities Derivative liabilities — 335,524 704 (51,973 ) 284,255 Short-term borrowings — 2,295 — — 2,295 (1) Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and cash collateral held or placed with the same counterparties. The tables below present a rollforward of the balance sheet amounts for the nine -month periods ended September 30, 2015 and 2014 , for financial instruments measured on a recurring basis and classified as Level 3. The classification of an item as Level 3 is based on the significance of the unobservable inputs to the overall fair value measurement. However, Level 3 measurements may also include observable components of value that can be validated externally. Accordingly, the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology. Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Opening balance $ 20,681 $ 5,166 $ 1,716,845 $ 29,429 $ 102,071 $ 3,998 Transfers into Level 3 — — — — — — Transfers out of Level 3 — — — — — — Total gains/losses for the period: Included in earnings (2,616 ) 3,023 — 20 (2,440 ) (142 ) Included in OCI — — 3,514 1,309 1,997 — Purchases/originations — — 426,501 — — — Sales — — — (30,077 ) — — Repayments — — — — — (1,293 ) Issues — — — — — — Settlements — (405 ) (196,304 ) (681 ) (456 ) — Closing balance $ 18,065 $ 7,784 $ 1,950,556 $ — $ 101,172 $ 2,563 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (2,616 ) $ 3,023 $ 3,514 $ — $ 1,997 $ (142 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Opening balance $ 26,747 $ 6,196 $ 1,206,455 $ 31,633 $ 106,461 $ 25,498 Transfers into Level 3 — — — — — — Transfers out of Level 3 — — — — — — Total gains/losses for the period: Included in earnings (1,309 ) (1,847 ) — 8 171 (253 ) Included in OCI — — 14,344 (137 ) 5,826 — Purchases/originations — — 224,615 — — — Sales — — — — (22,870 ) — Repayments — — — — — (8,545 ) Issues — — — — — — Settlements — (813 ) (190,619 ) (570 ) (1,004 ) — Closing balance $ 25,438 $ 3,536 $ 1,254,795 $ 30,934 $ 88,584 $ 16,700 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (1,309 ) $ (1,847 ) $ 14,344 $ (137 ) $ 5,468 $ (253 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Opening balance $ 22,786 $ 3,360 $ 1,417,593 $ 30,464 $ 82,738 $ 10,590 Transfers into Level 3 — — — — — — Transfers out of Level 3 — — — — — — Total gains/losses for the period: Included in earnings (4,721 ) 6,244 — 47 (2,435 ) (497 ) Included in OCI — — 2,199 1,832 23,860 — Purchases/originations — — 768,529 — — — Sales — — — (30,077 ) — — Repayments — — — — — (7,530 ) Issues — — — — — — Settlements — (1,820 ) (237,765 ) (2,266 ) (2,991 ) — Closing balance $ 18,065 $ 7,784 $ 1,950,556 $ — $ 101,172 $ 2,563 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (4,721 ) $ 6,244 $ 2,199 $ — $ 23,860 $ (497 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Opening balance $ 34,236 $ 2,390 $ 654,537 $ 32,140 $ 107,419 $ 52,286 Transfers into Level 3 — — — — — — Transfers out of Level 3 — — — — — — Total gains/losses for the period: Included in earnings (8,798 ) 2,785 — 24 38 (705 ) Included in OCI — — 7,555 364 20,256 — Purchases/originations — — 805,893 — — — Sales — — — — (22,700 ) — Repayments — — — — — (34,881 ) Issues — — — — — — Settlements — (1,639 ) (213,190 ) (1,594 ) (16,429 ) — Closing balance $ 25,438 $ 3,536 $ 1,254,795 $ 30,934 $ 88,584 $ 16,700 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (8,798 ) $ 2,785 $ 7,555 $ 364 $ 19,554 $ (705 ) The table below summarizes the classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities for the three-month and nine -month periods ended September 30, 2015 and 2014 : Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Classification of gains and losses in earnings: Mortgage banking income $ (2,616 ) $ 3,023 $ — $ — $ — $ — Securities gains (losses) — — — — (2,440 ) — Interest and fee income — — — 20 — (142 ) Noninterest income — — — — — — Total $ (2,616 ) $ 3,023 $ — $ 20 $ (2,440 ) $ (142 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Classification of gains and losses in earnings: Mortgage banking income $ (1,309 ) $ (1,847 ) $ — $ — $ — $ — Securities gains (losses) — — — — 170 — Interest and fee income — — — 8 1 (243 ) Noninterest income — — — — — (10 ) Total $ (1,309 ) $ (1,847 ) $ — $ 8 $ 171 $ (253 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Classification of gains and losses in earnings: Mortgage banking income $ (4,721 ) $ 6,244 $ — $ — $ — $ — Securities gains (losses) — — — — (2,440 ) — Interest and fee income — — — 47 5 (497 ) Noninterest income — — — — — — Total $ (4,721 ) $ 6,244 $ — $ 47 $ (2,435 ) $ (497 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Classification of gains and losses in earnings: Mortgage banking income $ (8,798 ) $ 2,785 $ — $ — $ — $ — Securities gains (losses) — — — — 170 — Interest and fee income — — — 24 38 (819 ) Noninterest income — — — — — 114 Total $ (8,798 ) $ 2,785 $ — $ 24 $ 208 $ (705 ) Assets and liabilities under the fair value option The following table presents the fair value and aggregate principal balance of certain assets and liabilities under the fair value option: September 30, 2015 December 31, 2014 (dollar amounts in thousands) Fair value carrying amount Aggregate unpaid principal Difference Fair value carrying amount Aggregate unpaid principal Difference Assets Loans held for sale $ 393,473 $ 377,707 $ 15,766 $ 354,888 $ 340,070 $ 14,818 Loans held for investment 34,019 34,774 (755 ) 40,027 40,938 (911 ) Automobile loans 2,563 2,563 — 10,590 10,022 568 The following tables present the net gains (losses) from fair value changes, including net gains (losses) associated with instrument specific credit risk for the three-month and nine -month periods ended September 30, 2015 and 2014 : Net gains (losses) from fair value changes Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Assets Loans held for sale $ 6,801 $ 4,562 $ 1,244 $ 3,700 Automobile loans (142 ) (253 ) (568 ) (706 ) Gains (losses) included in fair value changes associated with instrument specific credit risk Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Assets Automobile loans $ 37 $ 323 $ 108 $ 861 Assets and Liabilities measured at fair value on a nonrecurring basis Certain assets and liabilities may be required to be measured at fair value on a nonrecurring basis in periods subsequent to their initial recognition. These assets and liabilities are not measured at fair value on an ongoing basis; however, they are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. Assets measured at fair value on a nonrecurring basis were as follows: Fair Value Measurements Using (dollar amounts in thousands) Fair Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Total Total MSRs $ 133,812 $ — $ — $ 133,812 $ (12,472 ) $ (7,492 ) Impaired loans 52,837 — — 52,837 (2,614 ) (6,964 ) Other real estate owned 24,910 — — 24,910 356 3,619 Periodically, Huntington records nonrecurring adjustments of collateral-dependent loans measured for impairment when establishing the ACL. Such amounts are generally based on the fair value of the underlying collateral supporting the loan. Appraisals are generally obtained to support the fair value of the collateral and incorporate measures such as recent sales prices for comparable properties and cost of construction. In cases where the carrying value exceeds the fair value of the collateral less cost to sell, an impairment charge is recognized. MSRs accounted for under the amortization method are subject to nonrecurring fair value measurement when the fair value is lower than the carrying amount. Other real estate owned properties are included in accrued income and other assets and valued based on appraisals and third party price opinions, less estimated selling costs. The appraisals supporting the fair value of the collateral to recognize loan impairment or unrealized loss on other real estate owned properties may not have been obtained as of September 30, 2015 . Significant unobservable inputs for assets and liabilities measured at fair value on a recurring and nonrecurring basis The table below presents quantitative information about the significant unobservable inputs for assets and liabilities measured at fair value on a recurring and nonrecurring basis at September 30, 2015 and December 31, 2014 : Quantitative Information about Level 3 Fair Value Measurements at September 30, 2015 (dollar amounts in thousands) Fair Value at Valuation Technique Significant Unobservable Input Range (Weighted Average) MSRs $ 18,065 Discounted cash flow Constant prepayment rate 6.0% - 24.0% (14.3%) Spread over forward interest rate 325 - 1,166 (599) Derivative assets 8,339 Consensus Pricing Net market price -3.6% - 19.4% (2.1%) Derivative liabilities 555 Estimated Pull through % 50.0% - 90.0% (76.0%) Municipal securities 1,950,556 Discounted cash flow Discount rate 0.3% - 4.7% (2.6%) Asset-backed securities 101,172 Discounted cash flow Discount rate 4.3% - 11.3% (5.8%) Cumulative prepayment rate 0.0% - 100.0% (8.3%) Cumulative default 1.7% - 100.0% (11.5%) Loss given default 85% - 100% (96.4%) Cure given deferral 0.0% - 75.0% (36.6%) Automobile loans 2,563 Discounted cash flow Constant prepayment rate 154.2 % Discount rate 0.2% - 5.0% (2.3%) Life of pool cumulative losses 2.1 % Impaired loans 52,837 Appraisal value NA NA Other real estate owned 24,910 Appraisal value NA NA Quantitative Information about Level 3 Fair Value Measurements at December 31, 2014 (dollar amounts in thousands) Fair Value Valuation Technique Significant Unobservable Input Range (Weighted Average) MSRs $ 22,786 Discounted cash flow Constant prepayment rate 7% - 26% (16%) Spread over forward interest rate 228 - 900 (546) Derivative assets 4,064 Consensus Pricing Net market price -5.09% - 17.46% (1.7%) Derivative liabilities 704 Estimated Pull through % 38% - 91% (75%) Municipal securities 1,417,593 Discounted cash flow Discount rate 0.5% - 4.9% (2.5%) Private-label CMO 30,464 Discounted cash flow Discount rate 2.7% - 7.2% (6.0%) Constant prepayment rate 13.6% - 32.6% (20.7%) Probability of default 0.1% - 4.0% (0.7%) Loss severity 0.0% - 64.0% (33.9%) Asset-backed securities 82,738 Discounted cash flow Discount rate 4.3% - 13.3% (7.3%) Cumulative prepayment rate 0.0% - 100% (10.1%) Cumulative default 1.9% - 100% (15.9%) Loss given default 20% - 100% (94.4%) Cure given deferral 0.0% - 75% (32.6%) Automobile loans 10,590 Discounted cash flow Constant prepayment rate 154.2 % Discount rate 0.2% - 5.0% (2.3%) Life of pool cumulative losses 2.1 % Impaired loans 52,911 Appraisal value NA NA Other real estate owned 35,039 Appraisal value NA NA The following provides a general description of the impact of a change in an unobservable input on the fair value measurement and the interrelationship between unobservable inputs, where relevant/significant. Interrelationships may also exist between observable and unobservable inputs. Such relationships have not been included in the discussion below. A significant change in the unobservable inputs may result in a significant change in the ending fair value measurement of Level 3 instruments. In general, prepayment rates increase when market interest rates decline and decrease when market interest rates rise and higher prepayment rates generally result in lower fair values for MSR assets, Private-label CMO securities, Asset-backed securities, and automobile loans. Credit loss estimates, such as probability of default, constant default, cumulative default, loss given default, cure given deferral, and loss severity, are driven by the ability of the borrowers to pay their loans and the value of the underlying collateral and are impacted by changes in macroeconomic conditions, typically increasing when economic conditions worsen and decreasing when conditions improve. An increase in the estimated prepayment rate typically results in a decrease in estimated credit losses and vice versa. Higher credit loss estimates generally result in lower fair values. Credit spreads generally increase when liquidity risks and market volatility increase and decrease when liquidity conditions and market volatility improve. Discount rates and spread over forward interest rate swap rates typically increase when market interest rates increase and/or credit and liquidity risks increase and decrease when market interest rates decline and/or credit and liquidity conditions improve. Higher discount rates and credit spreads generally result in lower fair market values. Net market price and pull through percentages generally increase when market interest rates increase and decline when market interest rates decline. Higher net market price and pull through percentages generally result in higher fair values. Fair values of financial instruments The following table provides the carrying amounts and estimated fair values of Huntington’s financial instruments that are carried either at fair value or cost at September 30, 2015 and December 31, 2014 : September 30, 2015 December 31, 2014 (dollar amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Financial Assets Cash and short-term assets $ 1,090,163 $ 1,090,163 $ 1,285,124 $ 1,285,124 Trading account securities 38,609 38,609 42,191 42,191 Loans held for sale 675,636 675,636 416,327 416,327 Available-for-sale and other securities 11,094,868 11,094,868 9,384,670 9,384,670 Held-to-maturity securities 3,157,688 3,191,907 3,379,905 3,382,715 Net loans and leases 49,063,971 47,374,526 47,050,530 45,110,406 Derivatives 451,584 451,584 352,642 352,642 Financial Liabilities Deposits 54,244,711 54,831,170 51,732,151 52,454,804 Short-term borrowings 1,453,812 1,453,812 2,397,101 2,397,101 Long-term debt 6,359,445 6,265,129 4,335,962 4,286,304 Derivatives 289,677 289,677 284,255 284,255 The following table presents the level in the fair value hierarchy for the estimated fair values of only Huntington’s financial instruments that are not already on the Unaudited Condensed Consolidated Balance Sheets at fair value at September 30, 2015 and December 31, 2014 : Estimated Fair Value Measurements at Reporting Date Using September 30, 2015 (dollar amounts in thousands) Level 1 Level 2 Level 3 Financial Assets Held-to-maturity securities $ — $ 3,191,907 $ — $ 3,191,907 Net loans and leases — — 47,374,526 47,374,526 Financial Liabilities Deposits — 51,244,015 3,587,155 54,831,170 Short-term borrowings — — 1,453,812 1,453,812 Other long-term debt — — 6,265,129 6,265,129 Estimated Fair Value Measurements at Reporting Date Using December 31, 2014 (dollar amounts in thousands) Level 1 Level 2 Level 3 Financial Assets Held-to-maturity securities $ — $ 3,382,715 $ — $ 3,382,715 Net loans and leases — — 45,110,406 45,110,406 Financial Liabilities Deposits — 48,183,798 4,271,006 52,454,804 Short-term borrowings — — 2,397,101 2,397,101 Other long-term debt — — 4,286,304 4,286,304 The short-term nature of certain assets and liabilities result in their carrying value approximating fair value. These include trading account securities, customers’ acceptance liabilities, short-term borrowings, bank acceptances outstanding, FHLB advances, and cash and short-term assets, which include cash and due from banks, interest-bearing deposits in banks, and federal funds sold and securities purchased under resale agreements. Loan commitments and letters-of-credit generally have short-term, variable-rate features and contain clauses that limit Huntington’s exposure to changes in customer credit quality. Accordingly, their carrying values, which are immaterial at the respective balance sheet dates, are reasonable estimates of fair value. Not all the financial instruments listed in the table above are subject to the disclosure provisions of ASC Topic 820. Certain assets, the most significant being operating lease assets, bank owned life insurance, and premises and equipment, do not meet the definition of a financial instrument and are excluded from this disclosure. Similarly, mortgage and nonmortgage servicing rights, deposit base, and other customer relationship intangibles are not considered financial instruments and are not included above. Accordingly, this fair value information is not intended to, and does not, represent Huntington’s underlying value. Many of the assets and liabilities subject to the disclosure requirements are not actively traded, requiring fair values to be estimated by Management. These estimations necessarily involve the use of judgment about a wide variety of factors, including but not limited to, relevancy of market prices of comparable instruments, expected future cash flows, and appropriate discount rates. The following methods and assumptions were used by Huntington to estimate the fair value of the remaining classes of financial instruments: Held-to-maturity securities Fair values are determined by using models that are based on security-specific details, as well as relevant industry and economic factors. The most significant of these inputs are quoted market prices, and interest rate spreads on relevant benchmark securities. Loans and Direct Financing Leases Variable-rate loans that reprice frequently are based on carrying amounts, as adjusted for estimated credit losses. The fair values for other loans and leases are estimated using discounted cash flow analyses and employ interest rates currently being offered for loans and leases with similar terms. The rates take into account the position of the yield curve, as well as an adjustment for prepayment risk, operating costs, and profit. This value is also reduced by an estimate of expected losses and the credit risk associated in the loan and lease portfolio. The valuation of the loan portfolio reflected discounts that Huntington believ |
DERIVATIVE FINANCIAL INSTRUMENT
DERIVATIVE FINANCIAL INSTRUMENTS | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE FINANCIAL INSTRUMENTS | DERIVATIVE FINANCIAL INSTRUMENTS Derivative financial instruments are recorded in the Unaudited Condensed Consolidated Balance Sheet as either an asset or a liability (in accrued income and other assets or accrued expenses and other liabilities, respectively) and measured at fair value. Derivative financial instruments can be designated as accounting hedges under GAAP. Designating a derivative as an accounting hedge allows Huntington to recognize gains and losses, less any ineffectiveness, in the income statement within the same period that the hedged item affects earnings. Gains and losses on derivatives that are not designated to an effective hedge relationship under GAAP immediately impact earnings within the period they occur. Derivatives used in Asset and Liability Management Activities Huntington engages in balance sheet hedging activity, principally for asset liability management purposes, to convert fixed rate assets or liabilities into floating rate or vice versa. Balance sheet hedging activity is arranged to receive hedge accounting treatment and is classified as either fair value or cash flow hedges. Fair value hedges are purchased to convert deposits and subordinated and other long-term debt from fixed-rate obligations to floating rate. Cash flow hedges are also used to convert floating rate loans made to customers into fixed rate loans. The following table presents the gross notional values of derivatives used in Huntington’s asset and liability management activities at September 30, 2015 , identified by the underlying interest rate-sensitive instruments: (dollar amounts in thousands ) Fair Value Hedges Cash Flow Hedges Total Instruments associated with: Loans $ — $ 9,048,000 $ 9,048,000 Deposits 69,100 — 69,100 Subordinated notes 475,000 — 475,000 Long-term debt 4,535,000 — 4,535,000 Total notional value at September 30, 2015 $ 5,079,100 $ 9,048,000 $ 14,127,100 The following table presents additional information about the interest rate swaps used in Huntington’s asset and liability management activities at September 30, 2015 : Weighted-Average Rate (dollar amounts in thousands ) Notional Value Average Maturity (years) Fair Value Receive Pay Asset conversion swaps Receive fixed—generic $ 9,048,000 1.2 $ 23,912 0.81 % 0.28 % Total asset conversion swaps 9,048,000 1.2 23,912 0.81 0.28 Liability conversion swaps Receive fixed—generic 5,079,100 2.9 107,185 1.61 0.32 Total liability conversion swaps 5,079,100 2.9 107,185 1.61 0.32 Total swap portfolio at September 30, 2015 $ 14,127,100 1.8 $ 131,097 1.10 % 0.30 % These derivative financial instruments were entered into for the purpose of managing the interest rate risk of assets and liabilities. Consequently, net amounts receivable or payable on contracts hedging either interest earning assets or interest bearing liabilities were accrued as an adjustment to either interest income or interest expense. The net amounts resulted in an increase to net interest income of $28.3 million and $24.2 million for the three-month periods ended September 30, 2015 , and 2014 , respectively. For the nine -month periods ended September 30, 2015 , and 2014 , the net amounts resulted in an increase to net interest income of $79.2 million and $73.4 million , respectively. In connection with the sale of Huntington’s Class B Visa ® shares, Huntington entered into a swap agreement with the purchaser of the shares. The swap agreement adjusts for dilution in the conversion ratio of Class B shares resulting from the Visa ® litigation. At September 30, 2015 , the fair value of the swap liability of $0.4 million is an estimate of the exposure liability based upon Huntington’s assessment of the potential Visa ® litigation losses. The following table presents the fair values at September 30, 2015 and December 31, 2014 of Huntington’s derivatives that are designated and not designated as hedging instruments. Amounts in the table below are presented gross without the impact of any net collateral arrangements: Asset derivatives included in accrued income and other assets: (dollar amounts in thousands) September 30, 2015 December 31, 2014 Interest rate contracts designated as hedging instruments $ 131,097 $ 53,114 Interest rate contracts not designated as hedging instruments 240,229 183,610 Foreign exchange contracts not designated as hedging instruments 41,033 32,798 Commodities contracts not designated as hedging instruments 108,409 180,218 Total contracts $ 520,768 $ 449,740 Liability derivatives included in accrued expenses and other liabilities: (dollar amounts in thousands) September 30, 2015 December 31, 2014 Interest rate contracts designated as hedging instruments $ — $ 12,648 Interest rate contracts not designated as hedging instruments 167,854 110,627 Foreign exchange contracts not designated as hedging instruments 37,919 29,754 Commodities contracts not designated as hedging instruments 105,634 179,180 Total contracts $ 311,407 $ 332,209 The changes in fair value of the fair value hedges are, to the extent that the hedging relationship is effective, recorded through earnings and offset against changes in the fair value of the hedged item. The following table presents the change in fair value for derivatives designated as fair value hedges as well as the offsetting change in fair value on the hedged item for the three-month and nine -month periods ended September 30, 2015 , and 2014 : Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Interest rate contracts Change in fair value of interest rate swaps hedging deposits (1) $ (265 ) $ (323 ) $ (723 ) $ (829 ) Change in fair value of hedged deposits (1) 259 315 709 809 Change in fair value of interest rate swaps hedging subordinated notes (2) 5,328 (6,601 ) 1,196 (2,520 ) Change in fair value of hedged subordinated notes (2) (5,328 ) 6,601 (1,196 ) 2,520 Change in fair value of interest rate swaps hedging other long-term debt (2) 37,272 (13,196 ) 49,168 (6,943 ) Change in fair value of hedged other long-term debt (2) (36,283 ) 12,924 (48,546 ) 9,450 (1) Effective portion of the hedging relationship is recognized in Interest expense—deposits in the Unaudited Condensed Consolidated Statements of Income. Any resulting ineffective portion of the hedging relationship is recognized in noninterest income in the Unaudited Condensed Consolidated Statements of Income. (2) Effective portion of the hedging relationship is recognized in Interest expense—subordinated notes and other long-term debt in the Unaudited Condensed Consolidated Statements of Income. Any resulting ineffective portion of the hedging relationship is recognized in noninterest income in the Unaudited Condensed Consolidated Statements of Income. To the extent these derivatives are effective in offsetting the variability of the hedged cash flows, changes in the derivatives’ fair value will not be included in current earnings but are reported as a component of OCI in the Unaudited Condensed Consolidated Statements of Shareholders’ Equity. These changes in fair value will be included in earnings of future periods when earnings are also affected by the changes in the hedged cash flows. To the extent these derivatives are not effective, changes in their fair values are immediately included in noninterest income. The following table presents the gains and (losses) recognized in OCI and the location in the Unaudited Condensed Consolidated Statements of Income of gains and (losses) reclassified from OCI into earnings for the three-month and nine -month periods ended September 30, 2015 , and 2014 for derivatives designated as effective cash flow hedges: Derivatives in cash flow hedging relationships Amount of gain or (loss) recognized in OCI on derivatives (effective portion) (after-tax) Location of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) Amount of (gain) or loss reclassified from accumulated OCI into earnings (effective portion) Three months ended September 30, Three months ended September 30, (dollar amounts in thousands) 2015 2014 2015 2014 Interest rate contracts Loans $ 8,301 $ (21,133 ) Interest and fee income - loans and leases $ (73 ) $ (148 ) Investment Securities — — Noninterest income - other income — — Total $ 8,301 $ (21,133 ) $ (73 ) $ (148 ) Derivatives in cash flow hedging relationships Amount of gain or (loss) recognized in OCI on derivatives (effective portion) (after-tax) Location of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) Amount of (gain) or loss reclassified from accumulated OCI into earnings (effective portion) Nine months ended September 30, Nine months ended September 30, (dollar amounts in thousands) 2015 2014 2015 2014 Interest rate contracts Loans $ 26,057 $ (1,596 ) Interest and fee income - loans and leases $ (323 ) $ (3,853 ) Investment Securities — — Interest and fee income - investment securities (11 ) — Total $ 26,057 $ (1,596 ) $ (334 ) $ (3,853 ) Reclassified gains and losses on swaps related to loans and investment securities and swaps related to subordinated debt are recorded within interest income and interest expense, respectively. During the next twelve months, Huntington expects to reclassify to earnings $15.6 million after-tax unrealized gains on cash flow hedging derivatives currently in OCI. The following table details the gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as cash flow hedges for the three-month and nine -month periods ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Derivatives in cash flow hedging relationships Interest rate contracts Loans $ 888 $ 224 $ 858 $ 195 Derivatives used in mortgage banking activities Mortgage loan origination hedging activity Huntington’s mortgage origination hedging activity is related to the hedging of the mortgage pricing commitments to customers and the secondary sale to third parties. The value of a newly originated mortgage is not firm until the interest rate is committed or locked. The interest rate lock commitments are derivative positions offset by forward commitments to sell loans. Huntington uses two types of mortgage-backed securities in its forward commitment to sell loans. The first type of forward commitment is a “To Be Announced” (or TBA), the second is a “Specified Pool” mortgage-backed security. Huntington uses these derivatives to hedge the value of mortgage-backed securities until they are sold. The following table summarizes the derivative assets and liabilities used in mortgage banking activities: (dollar amounts in thousands) September 30, 2015 December 31, 2014 Derivative assets: Interest rate lock agreements $ 8,339 $ 4,064 Forward trades and options 34 35 Total derivative assets 8,373 4,099 Derivative liabilities: Interest rate lock agreements (110 ) (259 ) Forward trades and options (5,490 ) (3,760 ) Total derivative liabilities (5,600 ) (4,019 ) Net derivative asset (liability) $ 2,773 $ 80 MSR hedging activity Huntington’s MSR economic hedging activity uses securities and derivatives to manage the value of the MSR asset and to mitigate the various types of risk inherent in the MSR asset, including risks related to duration, basis, convexity, volatility, and yield curve. The hedging instruments include forward commitments, interest rate swaps, and options on interest rate swaps. The total notional value of these derivative financial instruments at September 30, 2015 and December 31, 2014 , was $0.5 billion and $0.6 billion , respectively. The total notional amount at September 30, 2015 , corresponds to trading assets with a fair value of $2.9 million and no trading liabilities. Net trading gains and (losses) related to MSR hedging for the three-month periods ended September 30, 2015 and 2014 , were $5.7 million and $(0.2) million , and $1.9 million and $3.8 million for the nine -month periods ended September 30, 2015 and 2014 , respectively. These amounts are included in mortgage banking income in the Unaudited Condensed Consolidated Statements of Income. Derivatives used in trading activities Various derivative financial instruments are offered to enable customers to meet their financing and investing objectives and for their risk management purposes. Derivative financial instruments used in trading activities consisted of commodity, interest rate, and foreign exchange contracts. The derivative contracts grant the option holder the right to buy or sell an underlying financial instrument for a predetermined price before the contract expires. Huntington may enter into offsetting third-party contracts with approved, reputable counterparties with substantially matching terms and currencies in order to economically hedge significant exposure related to derivatives used in trading activities. The interest rate risk of customer derivatives is mitigated by entering into similar derivatives having offsetting terms with other counterparties. The credit risk to these customers is evaluated and included in the calculation of fair value. Foreign currency derivatives help the customer hedge risk and reduce exposure to fluctuations in exchange rates. Transactions are primarily in liquid currencies with Canadian dollars and Euros comprising a majority of all transactions. The net fair values of these derivative financial instruments, for which the gross amounts are included in accrued income and other assets or accrued expenses and other liabilities at September 30, 2015 and December 31, 2014 , were $75.8 million and $74.4 million , respectively. The total notional values of derivative financial instruments used by Huntington on behalf of customers, including offsetting derivatives, were $14.7 billion and $14.4 billion at September 30, 2015 and December 31, 2014, respectively. Huntington’s credit risks from interest rate swaps used for trading purposes were $272.0 million and $219.3 million at the same dates, respectively. Risk Participation Agreements Huntington periodically enters into risk participation agreement in order to manage credit risk of its derivative positions. These agreements transfer counterparty credit risk related to interest rate swaps to and from other financial institutions. Huntington can mitigate exposure to certain counterparties or take on exposure to generate additional income. Huntington’s notional exposure for interest rate swaps originated by other financial institutions was $397.4 million and $456.7 million at September 30, 2015 and December 31, 2014 , respectively. Huntington will make payments under these agreements if a customer defaults on its obligation to perform under the terms of the underlying interest rate derivative contract. The amount Huntington will have to pay if all counterparties defaulted on their swap contracts is the fair value of these risk participations, which was $10.2 million and $7.2 million at September 30, 2015 and December 31, 2014 , respectively. These contracts mature between 2015 and 2043 and are deemed investment grade. Financial assets and liabilities that are offset in the Condensed Consolidated Balance Sheets Huntington records derivatives at fair value as further described in Note 14. Huntington records these derivatives net of any master netting arrangement in the Unaudited Condensed Consolidated Balance Sheets. Collateral agreements are regularly entered into as part of the underlying derivative agreements with Huntington’s counterparties to mitigate counterparty credit risk. All derivatives are carried on the Unaudited Condensed Consolidated Balance Sheets at fair value. Derivative balances are presented on a net basis taking into consideration the effects of legally enforceable master netting agreements. Cash collateral exchanged with counterparties is also netted against the applicable derivative fair values. Huntington enters into derivative transactions with two primary groups: broker-dealers and banks, and Huntington’s customers. Different methods are utilized for managing counterparty credit exposure and credit risk for each of these groups. Huntington enters into transactions with broker-dealers and banks for various risk management purposes. These types of transactions generally are high dollar volume. Huntington enters into bilateral collateral and master netting agreements with these counterparties, and routinely exchange cash and high quality securities collateral with these counterparties. Huntington enters into transactions with customers to meet their financing, investing, payment and risk management needs. These types of transactions generally are low dollar volume. Huntington generally enters into master netting agreements with customer counterparties, however collateral is generally not exchanged with customer counterparties. At September 30, 2015 and December 31, 2014 , aggregate credit risk associated with these derivatives, net of collateral that has been pledged by the counterparty, was $15.9 million and $19.5 million , respectively. The credit risk associated with interest rate swaps is calculated after considering master netting agreements with broker-dealers and banks. At September 30, 2015 , Huntington pledged $99.2 million of investment securities and cash collateral to counterparties, while other counterparties pledged $123.8 million of investment securities and cash collateral to Huntington to satisfy collateral netting agreements. In the event of credit downgrades, Huntington would not be required to provide additional collateral. The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Unaudited Condensed Consolidated Balance Sheets at September 30, 2015 and December 31, 2014 : Offsetting of Financial Assets and Derivative Assets Gross amounts not offset in the condensed consolidated balance sheets (dollar amounts in thousands) Gross amounts of recognized assets Gross amounts offset in the condensed consolidated balance sheets Net amounts of assets presented in the condensed consolidated balance sheets Financial instruments Cash collateral received Net amount Offsetting of Financial Assets and Derivative Assets September 30, 2015 Derivatives $ 530,788 $ (79,204 ) $ 451,584 $ (42,289 ) $ (3,983 ) $ 405,312 December 31, 2014 Derivatives 480,803 (128,161 ) 352,642 (27,744 ) (1,095 ) 323,803 Offsetting of Financial Liabilities and Derivative Liabilities Gross amounts not offset in the condensed consolidated balance sheets (dollar amounts in thousands) Gross amounts of recognized liabilities Gross amounts offset in the condensed consolidated balance sheets Net amounts of liabilities presented in the condensed consolidated balance sheets Financial instruments Cash collateral delivered Net amount Offsetting of Financial Liabilities and Derivative Liabilities September 30, 2015 Derivatives $ 318,653 $ (28,976 ) $ 289,677 $ (71,556 ) $ (377 ) $ 217,744 December 31, 2014 Derivatives 363,192 (78,937 ) 284,255 (78,654 ) (111 ) 205,490 |
VIEs
VIEs | 9 Months Ended |
Sep. 30, 2015 | |
Variable Interest Entities [Abstract] | |
VIEs | VIEs Consolidated VIEs Consolidated VIEs at September 30, 2015 , consisted of certain loan and lease securitization trusts. Huntington has determined the trusts are VIEs. Huntington has concluded that it is the primary beneficiary of these trusts because it has the power to direct the activities of the entity that most significantly affect the entity’s economic performance and it has either the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. During the 2015 first quarter, Huntington acquired two securitization trusts with its acquisition of Huntington Technology Finance. The following tables present the carrying amount and classification of the consolidated trusts’ assets and liabilities that were included in the Unaudited Condensed Consolidated Balance Sheets at September 30, 2015 and December 31, 2014 : September 30, 2015 Huntington Technology Other Consolidated Trusts Total (dollar amounts in thousands) Series 2012A Series 2014A Assets: Cash $ — $ — $ — $ — Loans and leases 40,968 180,165 — 221,133 Allowance for loan and lease losses — — — — Net loans and leases 40,968 180,165 — 221,133 Accrued income and other assets — — 229 229 Total assets $ 40,968 $ 180,165 $ 229 $ 221,362 Liabilities: Other long-term debt $ 34,192 $ 149,387 $ — $ 183,579 Accrued interest and other liabilities — — 229 229 Total liabilities 34,192 149,387 229 183,808 Equity: Beneficial Interest owned by third party 6,776 30,778 — 37,554 Total liabilities and equity $ 40,968 $ 180,165 $ 229 $ 221,362 December 31, 2014 (dollar amounts in thousands) Other Total Assets: Cash $ — $ — Loans and leases — — Allowance for loan and lease losses — — Net loans and leases — — Accrued income and other assets 243 243 Total assets $ 243 $ 243 Liabilities: Other long-term debt $ — $ — Accrued interest and other liabilities 243 243 Total liabilities 243 243 Equity: Beneficial Interest owned by third party — — Total liabilities and equity $ 243 $ 243 The loans and leases were designated to repay the securitized notes. Huntington services the loans and leases and uses the proceeds from principal and interest payments to pay the securitized notes during the amortization period. Huntington has not provided financial or other support that was not previously contractually required. Unconsolidated VIEs The following tables provide a summary of the assets and liabilities included in Huntington’s Unaudited Condensed Consolidated Financial Statements, as well as the maximum exposure to losses, associated with its interests related to unconsolidated VIEs for which Huntington holds an interest, but is not the primary beneficiary, to the VIE at September 30, 2015 , and December 31, 2014 : September 30, 2015 (dollar amounts in thousands) Total Assets Total Liabilities Maximum Exposure to Loss 2015-1 Automobile Trust $ 9,378 $ — $ 9,378 2012-1 Automobile Trust 445 — 445 2012-2 Automobile Trust 1,231 — 1,231 2011 Automobile Trust — — — Tower Hill Securities, Inc. 46,591 65,000 46,591 Trust Preferred Securities 13,919 317,098 — Low Income Housing Tax Credit Partnerships 407,191 181,788 407,191 Other Investments 88,745 27,289 88,745 Total $ 567,500 $ 591,175 $ 553,581 December 31, 2014 (dollar amounts in thousands) Total Assets Total Liabilities Maximum Exposure to Loss 2012-1 Automobile Trust $ 2,136 $ — $ 2,136 2012-2 Automobile Trust 3,220 — 3,220 2011 Automobile Trust 944 — 944 Tower Hill Securities, Inc. 55,611 65,000 55,611 Trust Preferred Securities 13,919 317,075 — Low Income Housing Tax Credit Partnerships 368,283 154,861 368,283 Other Investments 83,400 20,760 83,400 Total $ 527,513 $ 557,696 $ 513,594 2015-1, 2012-1, 2012-2, and 2011 AUTOMOBILE TRUST During the 2015 second quarter, 2012 fourth quarter, 2012 first quarter and 2011 third quarter, we transferred automobile loans totaling $0.8 billion , $1.0 billion , $1.3 billion and $1.0 billion , respectively, to trusts in securitization transactions. The securitizations and the resulting sale of all underlying securities qualified for sale accounting. Huntington has concluded that it is not the primary beneficiary of these trusts because it has neither the obligation to absorb losses of the entities that could potentially be significant to the VIEs nor the right to receive benefits from the entities that could potentially be significant to the VIEs. Huntington is not required and does not currently intend to provide any additional financial support to the trusts. Investors and creditors only have recourse to the assets held by the trusts. The interest Huntington holds in the VIEs relates to servicing rights which are included within accrued income and other assets of Huntington’s Unaudited Condensed Consolidated Balance Sheets. The maximum exposure to loss is equal to the carrying value of the servicing asset. During the 2015 third quarter, Huntington cancelled the 2011 Automobile Trust. As a result, any remaining assets at the time of the cancellation are no longer part of the trust. TOWER HILL SECURITIES, INC. In 2010, we transferred approximately $92.1 million of municipal securities, $86.0 million in Huntington Preferred Capital, Inc. (Real Estate Investment Trust) Class E Preferred Stock and cash of $6.1 million to Tower Hill Securities, Inc. in exchange for $184.1 million of Common and Preferred Stock of Tower Hill Securities, Inc. The municipal securities and the REIT Shares will be used to satisfy $65.0 million of mandatorily redeemable securities issued by Tower Hill Securities, Inc. and are not available to satisfy the general debts and obligations of Huntington or any consolidated affiliates. The transfer was recorded as a secured financing. Interests held by Huntington consist of municipal securities within available for sale and other securities and Series B preferred securities within other long term debt of Huntington’s Unaudited Condensed Consolidated Balance Sheets. The maximum exposure to loss is equal to the carrying value of the municipal securities. TRUST PREFERRED SECURITIES Huntington has certain wholly-owned trusts whose assets, liabilities, equity, income, and expenses are not included within Huntington’s Unaudited Condensed Consolidated Financial Statements. These trusts have been formed for the sole purpose of issuing trust-preferred securities, from which the proceeds are then invested in Huntington junior subordinated debentures, which are reflected in Huntington’s Unaudited Condensed Consolidated Balance Sheets as subordinated notes. The trust securities are the obligations of the trusts, and as such, are not consolidated within Huntington’s Unaudited Condensed Consolidated Financial Statements. A list of trust preferred securities outstanding at September 30, 2015 follows: (dollar amounts in thousands) Rate Principal amount of subordinated note/ debenture issued to trust (1) Investment in unconsolidated subsidiary Huntington Capital I 1.00 % (2) $ 111,816 $ 6,186 Huntington Capital II 0.96 (3) 54,593 3,093 Sky Financial Capital Trust III 1.73 (4) 72,165 2,165 Sky Financial Capital Trust IV 1.68 (4) 74,320 2,320 Camco Financial Trust 2.77 (5) 4,204 155 Total $ 317,098 $ 13,919 (1) Represents the principal amount of debentures issued to each trust, including unamortized original issue discount. (2) Variable effective rate at September 30, 2015 , based on three month LIBOR + 0.70% . (3) Variable effective rate at September 30, 2015 , based on three month LIBOR + 0.625% . (4) Variable effective rate at September 30, 2015 , based on three month LIBOR + 1.40% . (5) Variable effective rate (including impact of purchase accounting accretion) at September 30, 2015 , based on three month LIBOR + 1.33% . Each issue of the junior subordinated debentures has an interest rate equal to the corresponding trust securities distribution rate. Huntington has the right to defer payment of interest on the debentures at any time, or from time-to-time for a period not exceeding five years provided that no extension period may extend beyond the stated maturity of the related debentures. During any such extension period, distributions to the trust securities will also be deferred and Huntington’s ability to pay dividends on its common stock will be restricted. Periodic cash payments and payments upon liquidation or redemption with respect to trust securities are guaranteed by Huntington to the extent of funds held by the trusts. The guarantee ranks subordinate and junior in right of payment to all indebtedness of the Company to the same extent as the junior subordinated debt. The guarantee does not place a limitation on the amount of additional indebtedness that may be incurred by Huntington. LOW INCOME HOUSING TAX CREDIT PARTNERSHIPS Huntington makes certain equity investments in various limited partnerships that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit (LIHTC) pursuant to Section 42 of the Internal Revenue Code. The purpose of these investments is to achieve a satisfactory return on capital, to facilitate the sale of additional affordable housing product offerings, and to assist in achieving goals associated with the Community Reinvestment Act. The primary activities of the limited partnerships include the identification, development, and operation of multi family housing that is leased to qualifying residential tenants. Generally, these types of investments are funded through a combination of debt and equity. Huntington is a limited partner in each Low Income Housing Tax Credit Partnership. A separate unrelated third party is the general partner. Each limited partnership is managed by the general partner, who exercises full and exclusive control over the affairs of the limited partnership. Duties entrusted to the general partner of each limited partnership include, but are not limited to: investment in operating companies, company expenditures, investment of excess funds, borrowing funds, employment of agents, disposition of fund property, prepayment and refinancing of liabilities, votes and consents, contract authority, disbursement of funds, accounting methods, tax elections, bank accounts, insurance, litigation, cash reserve, and use of working capital reserve funds. Except for limited rights granted to consent to certain transactions, the limited partner(s) may not participate in the operation, management, or control of the limited partnership’s business, transact any business in the limited partnership’s name or have any power to sign documents for or otherwise bind the limited partnership. In addition, the general partner may only be removed by the limited partner(s) in the event the general partner fails to comply with the terms of the agreement and/or is negligent in performing its duties. Huntington believes the general partner of each limited partnership has the power to direct the activities which most significantly affect the performance of each partnership, therefore, Huntington has determined that it is not the primary beneficiary of any LIHTC partnership. Huntington uses the proportional amortization method to account for a majority of its investments in these entities. These investments are included in accrued income and other assets. Investments that do not meet the requirements of the proportional amortization method are recognized using the equity method. Investment gains/losses related to these investments are included in non-interest-income in the Unaudited Condensed Consolidated Statements of Income. The following table presents the balances of Huntington’s affordable housing tax credit investments and related unfunded commitments at September 30, 2015 and December 31, 2014 : (dollar amounts in thousands) September 30, December 31, Affordable housing tax credit investments $ 646,215 $ 576,381 Less: amortization (239,024 ) (208,098 ) Net affordable housing tax credit investments $ 407,191 $ 368,283 Unfunded commitments $ 181,788 $ 154,861 The following table presents other information relating to Huntington’s affordable housing tax credit investments for the three-month and nine-month periods ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Tax credits and other tax benefits recognized $ 16,412 $ 13,370 $ 46,592 $ 41,430 Proportional amortization method Tax credit amortization expense included in provision for income taxes 10,942 9,659 33,235 28,537 Equity method Tax credit investment (gains) losses included in non-interest income (86 ) 290 208 737 Huntington recognized immaterial impairment losses on tax credit investments during the three-month and nine-month periods ended September 30, 2015 and 2014 . OTHER INVESTMENTS Other investments determined to be VIE’s include investments in New Market Tax Credit Investments, Historic Tax Credit Investments, Small Business Investment Companies, Rural Business Investment Companies, certain equity method investments and other miscellaneous investments. |
COMMITMENTS AND CONTINGENT LIAB
COMMITMENTS AND CONTINGENT LIABILITIES | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENT LIABILITIES | COMMITMENTS AND CONTINGENT LIABILITIES Commitments to extend credit In the ordinary course of business, Huntington makes various commitments to extend credit that are not reflected in the Unaudited Condensed Consolidated Financial Statements. The contractual amounts of these financial agreements at September 30, 2015 and December 31, 2014 , were as follows: (dollar amounts in thousands) September 30, December 31, Contract amount represents credit risk: Commitments to extend credit Commercial $ 11,132,340 $ 11,181,522 Consumer 8,322,665 7,579,632 Commercial real estate 895,028 908,112 Standby letters-of-credit 490,776 497,457 Commercial letters-of-credit 33,079 36,460 Commitments to extend credit generally have fixed expiration dates, are variable-rate, and contain clauses that permit Huntington to terminate or otherwise renegotiate the contracts in the event of a significant deterioration in the customer’s credit quality. These arrangements normally require the payment of a fee by the customer, the pricing of which is based on prevailing market conditions, credit quality, probability of funding, and other relevant factors. Since many of these commitments are expected to expire without being drawn upon, the contract amounts are not necessarily indicative of future cash requirements. The interest rate risk arising from these financial instruments is insignificant as a result of their predominantly short-term, variable-rate nature. Standby letters-of-credit are conditional commitments issued to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. Most of these arrangements mature within two years . The carrying amount of deferred revenue associated with these guarantees was $6.6 million and $4.4 million at September 30, 2015 and December 31, 2014 , respectively. Through the Company’s credit process, Huntington monitors the credit risks of outstanding standby letters-of-credit. When it is probable that a standby letter-of-credit will be drawn and not repaid in full, losses are recognized in the provision for credit losses. At September 30, 2015 , Huntington had $490.8 million of standby letters-of-credit outstanding, of which 81% were collateralized. Included in this $490.8 million total are letters-of-credit issued by the Bank that support securities that were issued by customers and remarketed by The Huntington Investment Company, the Company’s broker-dealer subsidiary. Huntington uses an internal grading system to assess an estimate of loss on its loan and lease portfolio. This same loan grading system is used to monitor credit risk associated with standby letters-of-credit. Under this grading system as of September 30, 2015 , approximately $150 million of the standby letters-of-credit were rated strong with sufficient asset quality, liquidity, and good debt capacity and coverage; approximately $340 million were rated average with acceptable asset quality, liquidity, and modest debt capacity; and approximately less than $1 million were rated substandard with negative financial trends, structural weaknesses, operating difficulties, and higher leverage. Commercial letters-of-credit represent short-term, self-liquidating instruments that facilitate customer trade transactions and generally have maturities of no longer than 90 days . The goods or cargo being traded normally secures these instruments. Commitments to sell loans Activity related to our mortgage origination activity supports the hedging of the mortgage pricing commitments to customers and the secondary sale to third parties. At September 30, 2015 and December 31, 2014 , Huntington had commitments to sell residential real estate loans of $770.1 million and $545.0 million , respectively. These contracts mature in less than one year . Litigation The nature of Huntington’s business ordinarily results in a certain amount of pending as well as threatened claims, litigation, investigations, regulatory and legal and administrative cases, matters and proceedings, all of which are considered incidental to the normal conduct of business. When the Company determines it has meritorious defenses to the claims asserted, it vigorously defends itself. The Company considers settlement of cases when, in Management’s judgment, it is in the best interests of both the Company and its shareholders to do so. On at least a quarterly basis, Huntington assesses its liabilities and contingencies in connection with threatened and outstanding legal cases, matters and proceedings, utilizing the latest information available. For cases, matters and proceedings where it is both probable the Company will incur a loss and the amount can be reasonably estimated, Huntington establishes an accrual for the loss. Once established, the accrual is adjusted as appropriate to reflect any relevant developments. For cases, matters or proceedings where a loss is not probable or the amount of the loss cannot be estimated, no accrual is established. In certain cases, matters and proceedings, exposure to loss exists in excess of the accrual to the extent such loss is reasonably possible, but not probable. Management believes an estimate of the aggregate range of reasonably possible losses, in excess of amounts accrued, for current legal proceedings is from $0 to approximately $80.0 million at September 30, 2015 . For certain other cases, and matters, Management cannot reasonably estimate the possible loss at this time. Any estimate involves significant judgment, given the varying stages of the proceedings (including the fact that many of them are currently in preliminary stages), the existence of multiple defendants in several of the current proceedings whose share of liability has yet to be determined, the numerous unresolved issues in many of the proceedings, and the inherent uncertainty of the various potential outcomes of such proceedings. Accordingly, Management’s estimate will change from time-to-time, and actual losses may be more or less than the current estimate. While the final outcome of legal cases, matters, and proceedings is inherently uncertain, based on information currently available, advice of counsel, and available insurance coverage, Management believes that the amount it has already accrued is adequate and any incremental liability arising from the Company’s legal cases, matters, or proceedings will not have a material negative adverse effect on the Company’s consolidated financial position as a whole. However, in the event of unexpected future developments, it is possible that the ultimate resolution of these cases, matters, and proceedings, if unfavorable, may be material to the Company’s consolidated financial position in a particular period. Cyberco Litigation. The Bank has been named a defendant in two lawsuits, arising from the Bank’s commercial lending, depository, and equipment leasing relationships with Cyberco Holdings, Inc. (Cyberco), based in Grand Rapids, Michigan. In November 2004, the Federal Bureau of Investigation and the Internal Revenue Service raided Cyberco’s facilities and Cyberco’s operations ceased. An equipment leasing fraud was uncovered, whereby Cyberco sought financing from equipment lessors and financial institutions, including the Bank, allegedly to purchase computer equipment from Teleservices Group, Inc. (Teleservices). Cyberco created fraudulent documentation to close the financing transactions when, in fact, no computer equipment was ever purchased or leased from Teleservices, which later proved to be a shell corporation. Cyberco filed a Chapter 7 bankruptcy petition on December 9, 2004, and a state court receiver for Teleservices then filed a Chapter 7 bankruptcy petition for Teleservices on January 21, 2005. In an adversary proceeding commenced against the Bank on December 8, 2006, the Cyberco bankruptcy trustee sought recovery of over $70.0 million he alleged was transferred to the Bank. The Cyberco bankruptcy trustee also alleged preferential transfers were made to the Bank in the amount of approximately $1.2 million . The Bank moved to dismiss the complaint and all but the preference claims were dismissed on January 29, 2008. The Bankruptcy Court ordered the case to be tried in July 2012, and entered an order governing all pretrial conduct. The Bank filed a motion for summary judgment on the basis that the Cyberco trustee sought recovery of the same alleged transfers as the Teleservices trustee in a separate case described below. The Bankruptcy Court granted the motion in principal part and the parties stipulated to a full dismissal which was entered on June 19, 2012. The Teleservices bankruptcy trustee filed a separate adversary proceeding against the Bank on January 19, 2007, seeking to avoid and recover alleged transfers that occurred in two ways: (1) checks made payable to the Bank for application to Cyberco’s indebtedness to the Bank, and (2) deposits into Cyberco’s bank accounts with the Bank. A trial was held as to only the Bank’s defenses. Subsequently, the trustee filed a summary judgment motion on the affirmative case, alleging the fraudulent transfers to the Bank totaled approximately $73.0 million and seeking judgment in that amount (which includes the $1.2 million alleged to be preferential transfers by the Cyberco bankruptcy trustee). On March 17, 2011, the Bankruptcy Court issued an Opinion determining that the alleged transfers made to the Bank during the period from April 30, 2004 through November 2004 were not received in good faith and that the Bank failed to show a lack of knowledge of the avoidability of the alleged transfers made from September 2003 through November 2004. The trustee then filed an amended motion for summary judgment in the affirmative case and a hearing was held on July 1, 2011. On March 30, 2012, the Bankruptcy Court issued an Opinion on the Teleservices trustee’s motion determining the Bank was the initial transferee of the checks made payable to it and was a subsequent transferee of all deposits into Cyberco’s accounts. The Bankruptcy Court ruled Cyberco’s deposits were themselves transfers to the Bank under the Bankruptcy Code, and the Bank was liable for both the checks and the deposits, totaling approximately $73.0 million . The Bankruptcy Court delivered its report and recommendation to the District Court for the Western District of Michigan, recommending that the District Court enter a final judgment against the Bank in the principal amount of $71.8 million , plus interest through July 27, 2012, in the amount of $8.8 million . The parties filed their respective objections and responses to the Bankruptcy Court’s report and recommendation. The District Court held a hearing in September 2014 and conducted a de novo review of the fact findings and legal conclusions in the Bankruptcy Court’s report and recommendation. On September 28, 2015, the District Court entered a judgment against the Bank in the amount of $71.8 million plus costs and pre- and post-judgment interest. While Huntington plans to appeal the decision and to continue to aggressively contest the claims of this complex case, Huntington has increased its legal reserves by approximately $38.2 million in the 2015 third quarter to fully accrue for the amount of the judgment. MERSCORP Litigation. The Bank is a defendant in an action filed on January 17, 2012 against MERSCORP, Inc. and numerous other financial institutions that participate in the mortgage electronic registration system (MERS). The putative class action was filed on behalf of all 88 counties in Ohio. The plaintiffs allege that the recording of mortgages and assignments thereof is mandatory under Ohio law and seek a declaratory judgment that the defendants are required to record every mortgage and assignment on real property located in Ohio and pay the attendant statutory recording fees. The complaint also seeks damages, attorney’s fees and costs. Huntington filed a motion to dismiss the complaint, which has been fully briefed, but no ruling has been issued by the Geauga County, Ohio Court of Common Pleas. Similar litigation has been initiated against MERSCORP, Inc. and other financial institutions in other jurisdictions throughout the country, however, the Bank has not been named a defendant in those other cases. Powell v. Huntington National Bank. The Bank is a defendant in a putative class action filed on October 15, 2013. The plaintiffs filed the action in West Virginia state court on behalf of themselves and other West Virginia mortgage loan borrowers who allege they were charged late fees in violation of West Virginia law and the loan documents. Plaintiffs seek statutory civil penalties, compensatory damages and attorney’s fees. The Bank removed the case to federal court, answered the complaint, and, on January 17, 2014, filed a motion for judgment on the pleadings, asserting that West Virginia law is preempted by federal law and therefore does not apply to the Bank. Following further briefing by the parties, the federal district court denied the Bank’s motion for judgment on the pleadings on September 26, 2014. On June 8, 2015, the Fourth Circuit Court of Appeals granted the Bank’s motion for an interlocutory appeal of the district court’s decision. The matter has been briefed, and the parties await scheduling of oral argument. |
SEGMENT REPORTING
SEGMENT REPORTING | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
SEGMENT REPORTING | SEGMENT REPORTING Our business segments are based on our internally-aligned segment leadership structure, which is how we monitor results and assess performance. We have five major business segments: Retail and Business Banking, Commercial Banking, Automobile Finance and Commercial Real Estate (AFCRE), Regional Banking and The Huntington Private Client Group (RBHPCG), and Home Lending. The Treasury / Other function includes our technology and operations, other unallocated assets, liabilities, revenue, and expense. Descriptions of our five business segments can be found in the Business section included in Item 1 of our 2014 Form 10-K. Listed below is certain operating basis financial information reconciled to Huntington’s September 30, 2015 , December 31, 2014 , and September 30, 2014 , reported results by business segment: Three Months Ended September 30, Income Statements Retail & Business Banking Commercial Banking AFCRE RBHPCG Home Lending Treasury/Other Huntington Consolidated (dollar amounts in thousands) 2015 Net interest income $ 260,617 $ 97,307 $ 95,838 $ 30,268 $ 16,915 $ (5,490 ) $ 495,455 Provision (reduction in allowance) for credit losses (3,889 ) 9,359 12,618 3,550 838 — 22,476 Noninterest income 114,856 65,803 5,774 35,811 11,640 19,235 253,119 Noninterest expense 254,488 75,447 38,769 68,054 40,986 48,764 526,508 Income taxes 43,706 27,406 17,579 (1,934 ) (4,644 ) (35,111 ) 47,002 Net income (loss) $ 81,168 $ 50,898 $ 32,646 $ (3,591 ) $ (8,625 ) $ 92 $ 152,588 2014 Net interest income $ 230,318 $ 78,393 $ 96,355 $ 25,239 $ 14,620 $ 21,410 $ 466,335 Provision (reduction in allowance) for credit losses 22,528 13,635 (18,660 ) 3,179 3,797 1 24,480 Noninterest income 105,868 56,486 6,165 42,097 20,838 15,895 247,349 Noninterest expense 251,507 62,296 39,714 60,548 33,523 32,730 480,318 Income taxes 21,753 20,632 28,513 1,263 (652 ) (17,639 ) 53,870 Net income (loss) $ 40,398 $ 38,316 $ 52,953 $ 2,346 $ (1,210 ) $ 22,213 $ 155,016 Nine Months Ended September 30, Income Statements Retail & Business Banking Commercial Banking AFCRE RBHPCG Home Lending Treasury/Other Huntington Consolidated (dollar amounts in thousands) 2015 Net interest income $ 766,188 $ 266,638 $ 286,042 $ 84,843 $ 48,545 $ 1,570 $ 1,453,826 Provision for credit losses 22,664 13,167 14,733 7,791 5,131 — 63,486 Noninterest income 323,552 191,039 22,024 114,198 62,274 53,428 766,515 Noninterest expense 771,339 208,236 112,802 189,901 118,414 76,450 1,477,142 Income taxes 103,508 82,696 63,186 472 (4,454 ) (80,343 ) 165,065 Net income (loss) $ 192,229 $ 153,578 $ 117,345 $ 877 $ (8,272 ) $ 58,891 $ 514,648 2014 Net interest income $ 678,502 $ 226,316 $ 282,239 $ 76,399 $ 41,997 $ 58,436 $ 1,363,889 Provision for credit losses 63,962 33,681 (44,809 ) 5,353 20,308 — 78,495 Noninterest income 306,364 157,107 19,706 132,080 59,946 70,698 745,901 Noninterest expense 732,623 188,170 116,568 176,595 101,490 83,629 1,399,075 Income taxes 65,898 56,550 80,565 9,286 (6,949 ) (41,908 ) 163,442 Net income (loss) $ 122,383 $ 105,022 $ 149,621 $ 17,245 $ (12,906 ) $ 87,413 $ 468,778 Assets at Deposits at (dollar amounts in thousands) September 30, December 31, September 30, December 31, Retail & Business Banking $ 15,781,016 $ 15,146,857 $ 29,979,237 $ 29,350,255 Commercial Banking 16,753,525 15,043,477 11,825,996 11,184,566 AFCRE 17,329,574 16,027,910 1,521,992 1,377,921 RBHPCG 3,447,385 3,871,020 7,377,486 6,727,892 Home Lending 4,061,686 3,949,247 305,068 326,841 Treasury / Other 12,836,992 12,259,499 3,234,932 2,764,676 Total $ 70,210,178 $ 66,298,010 $ 54,244,711 $ 51,732,151 |
BUSINESS COMBINATIONS
BUSINESS COMBINATIONS | 9 Months Ended |
Sep. 30, 2015 | |
Business Combinations [Abstract] | |
BUSINESS COMBINATIONS | BUSINESS COMBINATIONS MACQUARIE EQUIPMENT FINANCE On March 31, 2015 , Huntington completed its acquisition of Macquarie, subsequently rebranded Huntington Technology Finance, in a cash transaction valued at $457.8 million . The acquisition gives us the ability to drive added growth to our national equipment finance business as well as additional small business finance capabilities. As a result of the acquisition, Huntington recorded approximately $1.1 billion of assets and assumed $616.6 million of debt, securitizations, and other liabilities. Assets acquired and liabilities assumed were recorded at fair value in accordance with ASC 805, “Business Combinations”. The fair values for assets were estimated using discounted cash flow analyses using interest rates currently being offered for leases with similar terms (Level 3). This value was reduced by an estimate of probable losses and the credit risk associated with leased assets. The fair values of debt, securitizations, and other liabilities were estimated by discounting cash flows using interest rates currently being offered with similar maturities (Level 3). As part of the acquisition, Huntington recorded $155.8 million of goodwill, all of which is deductible for tax purposes. Pro forma results have not been disclosed, as those amounts are not significant to the unaudited condensed consolidated financial statements. |
ACCOUNTING STANDARDS UPDATE (Po
ACCOUNTING STANDARDS UPDATE (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
ACCOUNTING STANDARDS UPDATE | ACCOUNTING STANDARDS UPDATE ASU 2014-04—Receivables (Topic 310): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The ASU clarifies that an in substance repossession or foreclosure occurs upon either the creditor obtaining legal title to the residential real estate property or the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amendments were effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014. The amendment did not have a material impact on Huntington’s Unaudited Condensed Consolidated Financial Statements. ASU 2014-09—Revenue from Contracts with Customers (Topic 606): The amendments in ASU 2014-09 supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The general principle of the amendments require an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance sets forth a five step approach to be utilized for revenue recognition. The amendments were originally effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Subsequently, the FASB issued a one-year deferral for implementation, which results in new guidance being effective for annual and interim reporting periods beginning after December 15, 2017. The FASB, however, permitted adoption of the new guidance on the original effective date. Management is currently assessing the impact on Huntington’s Consolidated Financial Statements. ASU 2014-11—Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments in the ASU require repurchase-to-maturity transactions to be recorded and accounted for as secured borrowings. Amendments to Topic 860 also require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty (i.e., a repurchase financing), which will result in secured borrowing accounting for the repurchase agreement, as well as additional required disclosures. The accounting amendments and disclosures are effective for interim and annual periods beginning after December 15, 2014. The disclosures for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions accounted for as secured borrowings are required to be presented for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. The amendments did not have a material impact on Huntington’s Unaudited Condensed Consolidated Financial Statements. ASU 2014-12—Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. The amendments require that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. Specifically, if the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The amendments are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Management is currently assessing the impact on Huntington’s Consolidated Financial Statements. ASU 2014-14—Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure. The amendments require a mortgage loan to be derecognized and a separate receivable to be recognized upon foreclosure if the loan has a government guarantee that is non-separable from the loan before foreclosure, the creditor has the ability and intent to convey the real estate property to the guarantor, and any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Additionally, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor upon foreclosure. The amendments were effective for annual periods and interim periods within those annual periods beginning after December 15, 2014. The amendments did not have a material impact on Huntington’s Unaudited Condensed Consolidated Financial Statements. ASU 2015-02—Consolidation (Topic 810)—Amendments to the Consolidation Analysis . The amendment applies to entities in all industries and provides a new scope exception for registered money market funds and similar unregistered money market funds. It also makes targeted amendments to the current consolidation guidance and ends the deferral granted to investment companies from applying the variable interest entity accounting guidance. The amendments are effective for annual periods beginning after December 15, 2015. Management is currently assessing the impact on Huntington’s Consolidated Financial Statements. ASU 2015-03—Imputation of Interest (Topic 835): Simplifying the Presentation of Debt Issuance Costs. This ASU was issued to simplify presentation of debt issuance costs. The amendments in this ASU require debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Subsequently, the FASB issued ASU 2015-15 to amend the SEC paragraph related to debt issuance cost. The amendment applies to debt issuance costs related to a line-of-credit arrangement which may be presented as an asset. The cost related to the line-of credit should be subsequently amortized ratably over the term of the line-of-credit arrangement. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. The amendments are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The amendment is not expected to have a material impact on Huntington’s Consolidated Financial Statements. ASU 2015-10—Technical Corrections and Improvements. The technical corrections and improvements included in the ASU are issued in June 2015 with an objective to clarify the Accounting Standards Codification (“Codification”), correct unintended application of guidance, or make minor improvements to the Codification that are minor in nature. One of the corrections is related to disclosure of fair value for non-recurring items. The ASU requires disclosure of fair value for non-recurring items at the relevant measurement date where the fair value is not measured at the end of the reporting period. Also, for nonrecurring measurements estimated at a date during the reporting period other than the end of the reporting period, a reporting entity shall clearly indicate that the fair value information presented is not as of the period’s end as well as the date or period that the measurement was taken. The technical correction is effective upon issuance. The correction in the ASU does not have a significant impact on Huntington’s Unaudited Condensed Consolidated Financial Statements. ASU 2015-16 - Simplifying the Accounting for Measurement-Period Adjustments. The amendments in this Update require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The acquirer is required to record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The amendments require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The Update is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments in this Update should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this Update with earlier application permitted. |
LOANS _ LEASES AND ALLOWANCE 29
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Loan and Lease Portfolio | The following table provides a detailed listing of Huntington’s loan and lease portfolio at September 30, 2015 and December 31, 2014 : (dollar amounts in thousands) September 30, December 31, Loans and leases: Commercial and industrial $ 20,039,429 $ 19,033,146 Commercial real estate 5,404,274 5,197,403 Automobile 9,160,241 8,689,902 Home equity 8,460,989 8,490,915 Residential mortgage 6,071,356 5,830,609 Other consumer 519,620 413,751 Loans and leases 49,655,909 47,655,726 Allowance for loan and lease losses (591,938 ) (605,196 ) Net loans and leases $ 49,063,971 $ 47,050,530 |
Loans acquired with deteriorated credit quality | The following table reflects the ending and unpaid balances of all contractually required payments and carrying amounts of the acquired loans by acquisition at September 30, 2015 and December 31, 2014 : September 30, 2015 December 31, 2014 (dollar amounts in thousands) Ending Unpaid Ending Unpaid Fidelity Bank Commercial and industrial $ 19,484 $ 28,812 $ 22,405 $ 33,622 Commercial real estate 24,619 67,413 36,663 87,250 Residential mortgage 1,513 2,292 1,912 3,096 Other consumer 50 107 51 123 Total $ 45,666 $ 98,624 $ 61,031 $ 124,091 Camco Financial Commercial and industrial $ — $ — $ 823 $ 1,685 Commercial real estate 1,156 1,499 1,708 3,826 Residential mortgage — — — — Other consumer — — — — Total $ 1,156 $ 1,499 $ 2,531 $ 5,511 The following table presents a rollforward of the accretable yield for purchased credit impaired loans by acquisition for the three-month and nine-month periods ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Fidelity Bank Balance, beginning of period $ 19,312 $ 24,596 $ 19,388 $ 27,995 Accretion (2,818 ) (3,070 ) (8,682 ) (10,722 ) Reclassification (to) from nonaccretable difference 1,089 (6 ) 6,877 4,247 Balance, end of period $ 17,583 $ 21,520 $ 17,583 $ 21,520 Camco Financial Balance, beginning of period $ 681 $ 154 $ 824 $ — Impact of acquisition/purchase on March 1, 2014 — — — 143 Accretion (106 ) (153 ) (1,357 ) (5,335 ) Reclassification (to) from nonaccretable difference (393 ) 816 715 6,009 Balance, end of period $ 182 $ 817 $ 182 $ 817 |
Loan Purchases and Sales | The following table summarizes portfolio loan purchase and sale activity for the three-month and nine-month periods ended September 30, 2015 and 2014 . The table below excludes mortgage loans originated for sale. (dollar amounts in thousands) Commercial Commercial Automobile Home Residential Other Total Portfolio loans and leases purchased or transferred from held for sale during the: Three-month period ended September 30, 2015 $ 180,036 $ — $ — $ — $ 57,388 $ — $ 237,424 Nine-month period ended September 30, 2015 224,532 — 262,037 (2) — 164,425 $ — 650,994 Three-month period ended September 30, 2014 64,668 — — — 2,224 $ — 66,892 Nine-month period ended September 30, 2014 $ 270,272 $ — $ — $ — $ 16,547 $ — $ 286,819 Portfolio loans and leases sold or transferred to loans held for sale during the: Three-month period ended September 30, 2015 $ 98,117 $ — $ — $ 96,786 (3 ) $ — $ — $ 194,903 Nine-month period ended September 30, 2015 284,019 — 1,026,195 (1) 96,786 — — 1,407,000 Three-month period ended September 30, 2014 179,065 — — — — — 179,065 Nine-month period ended September 30, 2014 $ 283,796 $ 7,434 $ — $ — $ — $ 7,592 $ 298,822 (1) Reflects the transfer of approximately $1.0 billion automobile loans to loans held-for-sale at March 31, 2015. (2) Includes loans Huntington no longer has the intent to sell and, therefore transferred back to the portfolio in the 2015 second quarter. (3) Reflects the transfer of approximately $96.8 million home equity TDRs from loans to loans held for sale at September 30, 2015. |
NALs and Past Due Loans | The following table presents NALs by loan class at September 30, 2015 and December 31, 2014 : (dollar amounts in thousands) September 30, December 31, Commercial and industrial: Owner occupied $ 42,231 $ 41,285 Other commercial and industrial 115,671 30,689 Total commercial and industrial 157,902 71,974 Commercial real estate: Retail properties $ 7,887 $ 21,385 Multi family 9,183 9,743 Office 5,414 7,707 Industrial and warehouse 1,147 3,928 Other commercial real estate 3,885 5,760 Total commercial real estate 27,516 48,523 Automobile 5,551 4,623 Home equity: Secured by first-lien 33,974 46,938 Secured by junior-lien 32,472 31,577 Total home equity 66,446 78,515 Residential mortgage 98,908 96,609 Other consumer 154 — Total nonaccrual loans $ 356,477 $ 300,244 |
Aging analysis of loans and leases | The following table presents an aging analysis of loans and leases, including past due loans, by loan class at September 30, 2015 and December 31, 2014 : (1) September 30, 2015 Past Due Total Loans 90 or more (dollar amounts in thousands) 30-59 Days 60-89 Days 90 or more days Total Current Commercial and industrial: Owner occupied $ 5,500 $ 3,742 $ 11,195 $ 20,437 $ 4,056,263 $ 4,076,700 $ — Purchased credit-impaired 802 1,622 3,412 5,836 13,648 19,484 3,412 (3) Other commercial and industrial 54,302 21,742 17,901 93,945 15,849,300 15,943,245 3,159 (2) Total commercial and industrial 60,604 27,106 32,508 120,218 19,919,211 20,039,429 6,571 Commercial real estate: Retail properties 10,095 297 3,769 14,161 1,408,479 1,422,640 $ — Multi family 1,078 3,620 2,605 7,303 1,210,792 1,218,095 — Office 5,889 1,094 2,211 9,194 916,636 925,830 — Industrial and warehouse 22 146 369 537 535,228 535,765 — Purchased credit-impaired 364 1,052 12,178 13,594 12,181 25,775 12,178 (3) Other commercial real estate 188 — 3,137 3,325 1,272,844 1,276,169 — Total commercial real estate 17,636 6,209 24,269 48,114 5,356,160 5,404,274 12,178 Automobile 58,391 14,051 6,934 79,376 9,080,865 9,160,241 6,873 Home equity: Secured by first-lien 13,269 7,241 26,321 46,831 5,110,070 5,156,901 4,207 Secured by junior-lien 21,693 10,523 32,952 65,168 3,238,920 3,304,088 6,557 Total home equity 34,962 17,764 59,273 111,999 8,348,990 8,460,989 10,764 Residential mortgage: Residential mortgage 92,163 37,313 123,097 252,573 5,817,270 6,069,843 68,135 (4) Purchased credit-impaired — — — — 1,513 1,513 — Total residential mortgage 92,163 37,313 123,097 252,573 5,818,783 6,071,356 68,135 Other consumer: Other consumer 6,411 1,547 1,241 9,199 510,371 519,570 1,087 Purchased credit-impaired — — — — 50 50 — Total other consumer 6,411 1,547 1,241 9,199 510,421 519,620 1,087 Total loans and leases $ 270,167 $ 103,990 $ 247,322 $ 621,479 $ 49,034,430 $ 49,655,909 $ 105,608 December 31, 2014 Past Due Total Loans 90 or more (dollar amounts in thousands) 30-59 Days 60-89 Days 90 or more days Total Current Commercial and industrial: Owner occupied $ 5,232 $ 2,981 $ 18,222 $ 26,435 $ 4,228,440 $ 4,254,875 $ — Purchased credit-impaired 846 — 4,937 5,783 17,445 23,228 4,937 (3) Other commercial and industrial 15,330 1,536 9,101 25,967 14,729,076 14,755,043 — Total commercial and industrial 21,408 4,517 32,260 58,185 18,974,961 19,033,146 4,937 Commercial real estate: Retail properties 7,866 — 4,021 11,887 1,345,859 1,357,746 $ — Multi family 1,517 312 3,337 5,166 1,085,250 1,090,416 — Office 464 1,167 4,415 6,046 974,257 980,303 — Industrial and warehouse 688 — 2,649 3,337 510,064 513,401 — Purchased credit-impaired 89 289 18,793 19,171 19,200 38,371 18,793 (3) Other commercial real estate 847 1,281 3,966 6,094 1,211,072 1,217,166 — Total commercial real estate 11,471 3,049 37,181 51,701 5,145,702 5,197,403 18,793 Automobile 56,272 10,427 5,963 72,662 8,617,240 8,689,902 5,703 Home equity Secured by first-lien 15,036 8,085 33,014 56,135 5,072,669 5,128,804 4,471 Secured by junior-lien 22,473 12,297 33,406 68,176 3,293,935 3,362,111 7,688 Total home equity 37,509 20,382 66,420 124,311 8,366,604 8,490,915 12,159 Residential mortgage Residential mortgage 102,702 42,009 139,379 284,090 5,544,607 5,828,697 88,052 (5) Purchased credit-impaired — — — — 1,912 1,912 — Total residential mortgage 102,702 42,009 139,379 284,090 5,546,519 5,830,609 88,052 Other consumer Other consumer 5,491 1,086 837 7,414 406,286 413,700 837 Purchased credit-impaired — — — — 51 51 — Total other consumer 5,491 1,086 837 7,414 406,337 413,751 837 Total loans and leases $ 234,853 $ 81,470 $ 282,040 $ 598,363 $ 47,057,363 $ 47,655,726 $ 130,481 (1) NALs are included in this aging analysis based on the loan’s past due status. (2) Amounts include Huntington Technology Finance administrative lease delinquencies. (3) Amounts represent accruing purchased impaired loans related to acquisitions. Under the applicable accounting guidance (ASC 310-30), the loans were recorded at fair value upon acquisition and remain in accruing status. (4) Includes $50,643 thousand guaranteed by the U.S. government. (5) Includes $55,012 thousand guaranteed by the U.S. government. |
ALLL and AULC activity by portfolio segment | The following table presents ALLL and AULC activity by portfolio segment for the three-month and nine-month periods ended September 30, 2015 and 2014 : (dollar amounts in thousands) Commercial Commercial Automobile Home Residential Other Total Three-month period ended September 30, 2015: ALLL balance, beginning of period $ 285,041 $ 92,060 $ 39,102 $ 111,178 $ 51,679 $ 20,482 $ 599,542 Loan charge-offs (26,016 ) (3,976 ) (9,084 ) (10,164 ) (3,192 ) (8,443 ) (60,875 ) Recoveries of loans previously charged-off 16,158 17,797 4,176 4,295 1,182 1,104 44,712 Provision (reduction in allowance) for loan and lease losses 9,146 4,086 9,755 (13,406 ) (6,875 ) 10,918 13,624 Write-downs of loans sold or transferred to loans held for sale — — — (5,065 ) — — (5,065 ) ALLL balance, end of period $ 284,329 $ 109,967 $ 43,949 $ 86,838 $ 42,794 $ 24,061 $ 591,938 AULC balance, beginning of period $ 41,849 $ 5,778 $ — $ 2,522 $ 17 $ 5,205 $ 55,371 Provision (reduction in allowance) for unfunded loan commitments and letters of credit 6,794 1,965 — (619 ) — 712 8,852 AULC balance, end of period $ 48,643 $ 7,743 $ — $ 1,903 $ 17 $ 5,917 $ 64,223 ACL balance, end of period $ 332,972 $ 117,710 $ 43,949 $ 88,741 $ 42,811 $ 29,978 $ 656,161 Nine-month period ended September 30, 2015: ALLL balance, beginning of period $ 286,995 $ 102,839 $ 33,466 $ 96,413 $ 47,211 $ 38,272 $ 605,196 Loan charge-offs (62,841 ) (14,277 ) (24,878 ) (27,379 ) (11,665 ) (21,880 ) (162,920 ) Recoveries of loans previously charged-off 37,169 26,585 12,280 12,235 4,697 3,984 96,950 Provision (reduction in allowance) for loan and lease losses 23,006 (5,180 ) 25,373 10,634 2,551 3,685 60,069 Write-downs of loans sold or transferred to loans held for sale — — (2,292 ) (5,065 ) — — (7,357 ) ALLL balance, end of period $ 284,329 $ 109,967 $ 43,949 $ 86,838 $ 42,794 $ 24,061 $ 591,938 AULC balance, beginning of period $ 48,988 $ 6,041 $ — $ 1,924 $ 8 $ 3,845 $ 60,806 Provision for (reduction in allowance) unfunded loan commitments and letters of credit (345 ) 1,702 — (21 ) 9 2,072 3,417 AULC balance, end of period $ 48,643 $ 7,743 $ — $ 1,903 $ 17 $ 5,917 $ 64,223 ACL balance, end of period $ 332,972 $ 117,710 $ 43,949 $ 88,741 $ 42,811 $ 29,978 $ 656,161 (dollar amounts in thousands) Commercial Commercial Automobile Home Residential Other Total Three-month period ended September 30, 2014: ALLL balance, beginning of period $ 278,512 $ 137,346 $ 27,158 $ 105,943 $ 47,191 $ 38,951 $ 635,101 Loan charge-offs (20,723 ) (4,664 ) (7,292 ) (9,584 ) (6,477 ) (9,771 ) (58,511 ) Recoveries of loans previously charged-off 8,136 10,671 3,316 3,136 1,049 2,180 28,488 Provision for (reduction in allowance) loan and lease losses 25,476 (27,881 ) 7,550 880 10,895 9,038 25,958 Allowance for loans sold or transferred to loans held for sale — — — — — — — ALLL balance, end of period $ 291,401 $ 115,472 $ 30,732 $ 100,375 $ 52,658 $ 40,398 $ 631,036 AULC balance, beginning of period $ 44,750 $ 7,530 $ — $ 1,977 $ 8 $ 2,662 $ 56,927 Provision for (reduction in allowance) unfunded loan commitments and letters of credit (1,545 ) (552 ) — (18 ) 2 635 (1,478 ) AULC balance, end of period $ 43,205 $ 6,978 $ — $ 1,959 $ 10 $ 3,297 $ 55,449 ACL balance, end of period $ 334,606 $ 122,450 $ 30,732 $ 102,334 $ 52,668 $ 43,695 $ 686,485 Nine-month period ended September 30, 2014: ALLL balance, beginning of period $ 265,801 $ 162,557 $ 31,053 $ 111,131 $ 39,577 $ 37,751 $ 647,870 Loan charge-offs (60,305 ) (17,772 ) (21,969 ) (43,844 ) (21,525 ) (24,934 ) (190,349 ) Recoveries of loans previously charged-off 28,515 26,957 10,425 13,218 4,832 4,750 88,697 Provision for (reduction in allowance) loan and lease losses 57,390 (56,270 ) 11,223 19,870 29,774 23,958 85,945 Allowance for loans sold or transferred to loans held for sale — — — — — (1,127 ) (1,127 ) ALLL balance, end of period $ 291,401 $ 115,472 $ 30,732 $ 100,375 $ 52,658 $ 40,398 $ 631,036 AULC balance, beginning of period $ 49,596 $ 9,891 $ — $ 1,763 $ 9 $ 1,640 $ 62,899 Provision for (reduction in allowance) unfunded loan commitments and letters of credit (6,391 ) (2,913 ) — 196 1 1,657 (7,450 ) AULC balance, end of period $ 43,205 $ 6,978 $ — $ 1,959 $ 10 $ 3,297 $ 55,449 ACL balance, end of period $ 334,606 $ 122,450 $ 30,732 $ 102,334 $ 52,668 $ 43,695 $ 686,485 |
Loan and lease balances by credit quality indicator | The following table presents each loan and lease class by credit quality indicator at September 30, 2015 and December 31, 2014 : September 30, 2015 Credit Risk Profile by UCS Classification (dollar amounts in thousands) Pass OLEM Substandard Doubtful Total Commercial and industrial: Owner occupied $ 3,763,002 $ 96,338 $ 213,755 $ 3,605 $ 4,076,700 Purchased credit-impaired 4,321 641 14,522 — 19,484 Other commercial and industrial 15,031,737 289,321 616,708 5,479 15,943,245 Total commercial and industrial 18,799,060 386,300 844,985 9,084 20,039,429 Commercial real estate: Retail properties 1,372,078 10,659 39,903 — 1,422,640 Multi family 1,162,776 32,220 22,733 366 1,218,095 Office 861,564 27,713 35,267 1,286 925,830 Industrial and warehouse 527,047 268 8,374 76 535,765 Purchased credit-impaired 8,333 189 15,456 1,797 25,775 Other commercial real estate 1,240,034 7,114 28,460 561 1,276,169 Total commercial real estate 5,171,832 78,163 150,193 4,086 5,404,274 Credit Risk Profile by FICO Score (1) 750+ 650-749 <650 Other (2) Total Automobile 4,465,597 3,388,521 1,053,464 252,659 9,160,241 Home equity: Secured by first-lien 3,314,317 1,436,522 252,179 153,883 5,156,901 Secured by junior-lien 1,829,202 1,035,173 336,424 103,289 3,304,088 Total home equity 5,143,519 2,471,695 588,603 257,172 8,460,989 Residential mortgage: Residential mortgage 3,563,718 1,859,268 602,172 44,685 6,069,843 Purchased credit-impaired 422 731 360 — 1,513 Total residential mortgage 3,564,140 1,859,999 602,532 44,685 6,071,356 Other consumer: Other consumer 216,820 248,734 48,239 5,777 519,570 Purchased credit-impaired — 50 — — 50 Total other consumer $ 216,820 $ 248,784 $ 48,239 $ 5,777 $ 519,620 December 31, 2014 Credit Risk Profile by UCS Classification (dollar amounts in thousands) Pass OLEM Substandard Doubtful Total Commercial and industrial: Owner occupied $ 3,959,046 $ 117,637 $ 175,767 $ 2,425 $ 4,254,875 Purchased credit-impaired 3,915 741 14,901 3,671 23,228 Other commercial and industrial 13,925,334 386,666 440,036 3,007 14,755,043 Total commercial and industrial 17,888,295 505,044 630,704 9,103 19,033,146 Commercial real estate: Retail properties 1,279,064 10,204 67,911 567 1,357,746 Multi family 1,044,521 12,608 32,322 965 1,090,416 Office 902,474 33,107 42,578 2,144 980,303 Industrial and warehouse 487,454 7,877 17,781 289 513,401 Purchased credit-impaired 6,914 803 25,460 5,194 38,371 Other commercial real estate 1,166,293 9,635 40,019 1,219 1,217,166 Total commercial real estate 4,886,720 74,234 226,071 10,378 5,197,403 Credit Risk Profile by FICO Score (1) 750+ 650-749 <650 Other (2) Total Automobile 4,165,811 3,249,141 1,028,381 246,569 8,689,902 Home equity: Secured by first-lien 3,255,088 1,426,191 283,152 164,373 5,128,804 Secured by junior-lien 1,832,663 1,095,332 348,825 85,291 3,362,111 Total home equity 5,087,751 2,521,523 631,977 249,664 8,490,915 Residential mortgage Residential mortgage 3,285,310 1,785,137 666,562 91,688 5,828,697 Purchased credit-impaired 594 1,135 183 — 1,912 Total residential mortgage 3,285,904 1,786,272 666,745 91,688 5,830,609 Other consumer Other consumer 195,128 187,781 30,582 209 413,700 Purchased credit-impaired — 51 — — 51 Total other consumer $ 195,128 $ 187,832 $ 30,582 $ 209 $ 413,751 (1) Reflects currently updated customer credit scores. (2) Reflects deferred fees and costs, loans in process, loans to legal entities, etc. |
Summarized data for impaired loans and the related ALLL by portfolio segment | The following tables present the balance of the ALLL attributable to loans by portfolio segment individually and collectively evaluated for impairment and the related loan and lease balance at September 30, 2015 and December 31, 2014 : (dollar amounts in thousands) Commercial and Industrial Commercial Real Estate Automobile Home Equity Residential Mortgage Other Consumer Total ALLL at September 30, 2015: Portion of ALLL balance: Attributable to purchased credit-impaired loans $ 547 $ 42 $ — $ — $ 70 $ — $ 659 Attributable to loans individually evaluated for impairment 12,824 10,458 1,446 21,346 10,186 142 56,402 Attributable to loans collectively evaluated for impairment 270,958 99,467 42,503 65,492 32,538 23,919 534,877 Total ALLL balance $ 284,329 $ 109,967 $ 43,949 $ 86,838 $ 42,794 $ 24,061 $ 591,938 Loan and Lease Ending Balances at September 30, 2015: Portion of loan and lease ending balance: Attributable to purchased credit-impaired loans $ 19,484 $ 25,775 $ — $ — $ 1,513 $ 50 $ 46,822 Individually evaluated for impairment 454,648 134,397 29,938 240,886 383,718 4,720 1,248,307 Collectively evaluated for impairment 19,565,297 5,244,102 9,130,303 8,220,103 5,686,125 514,850 48,360,780 Total loans and leases evaluated for impairment $ 20,039,429 $ 5,404,274 $ 9,160,241 $ 8,460,989 $ 6,071,356 $ 519,620 $ 49,655,909 (dollar amounts in thousands) Commercial and Industrial Commercial Real Estate Automobile Home Equity Residential Mortgage Other Consumer Total ALLL at December 31, 2014 Portion of ALLL balance: Attributable to purchased credit-impaired loans $ 3,846 $ — $ — $ — $ 8 $ 245 $ 4,099 Attributable to loans individually evaluated for impairment 11,049 18,887 1,531 26,027 16,535 214 74,243 Attributable to loans collectively evaluated for impairment 272,100 83,952 31,935 70,386 30,668 37,813 526,854 Total ALLL balance: $ 286,995 $ 102,839 $ 33,466 $ 96,413 $ 47,211 $ 38,272 $ 605,196 Loan and Lease Ending Balances at December 31, 2014 Portion of loan and lease ending balances: Attributable to purchased credit-impaired loans $ 23,228 $ 38,371 $ — $ — $ 1,912 $ 51 $ 63,562 Individually evaluated for impairment 216,993 217,262 30,612 310,446 369,577 4,088 1,148,978 Collectively evaluated for impairment 18,792,925 4,941,770 8,659,290 8,180,469 5,459,120 409,612 46,443,186 Total loans and leases evaluated for impairment $ 19,033,146 $ 5,197,403 $ 8,689,902 $ 8,490,915 $ 5,830,609 $ 413,751 $ 47,655,726 |
Detailed impaired loan information by class | The following tables present by class the ending, unpaid principal balance, and the related ALLL, along with the average balance and interest income recognized only for loans and leases individually evaluated for impairment and purchased credit-impaired loans: (1), (2) September 30, 2015 Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 (dollar amounts in thousands) Ending Balance Unpaid Principal Balance (5) Related Allowance Average Balance Interest Income Recognized Average Balance Interest Income Recognized With no related allowance recorded: Commercial and industrial: Owner occupied $ 45,595 $ 55,449 $ — $ 42,137 $ 149 $ 25,142 $ 296 Purchased credit-impaired — — — — — — — Other commercial and industrial 101,805 132,213 — 90,885 561 68,114 1,398 Total commercial and industrial 147,400 187,662 $ — 133,022 710 93,256 1,694 Commercial real estate: Retail properties 42,412 64,421 — 45,483 526 51,315 1,485 Multi family — — — — — — — Office 9,112 12,993 — 8,815 34 7,336 151 Industrial and warehouse 2,018 2,039 — 673 10 400 17 Purchased credit-impaired — — — — — — — Other commercial real estate 2,250 2,282 — 1,956 20 2,716 81 Total commercial real estate 55,792 81,735 — 56,927 590 61,767 1,734 Other consumer Other consumer — — — — — — — Purchased credit-impaired 50 107 — 50 3 51 11 Total other consumer $ 50 $ 107 $ — $ 50 $ 3 $ 51 $ 11 With an allowance recorded: Commercial and industrial: (3) Owner occupied $ 57,048 $ 67,187 $ 3,544 $ 53,136 $ 524 $ 54,622 $ 1,458 Purchased credit-impaired 19,484 28,812 547 19,803 1,216 21,053 4,176 Other commercial and industrial 250,200 264,320 9,280 225,478 1,680 185,312 4,054 Total commercial and industrial 326,732 360,319 13,371 298,417 3,420 260,987 9,688 Commercial real estate: (4) Retail properties 20,938 25,945 3,175 32,387 332 39,074 1,112 Multi family 14,388 19,067 1,506 15,320 161 15,582 515 Office 12,508 16,324 1,122 20,639 201 37,272 1,214 Industrial and warehouse 6,266 6,751 1,014 6,296 84 6,949 246 Purchased credit-impaired 25,775 68,912 42 26,684 1,611 31,770 5,531 Other commercial real estate 24,505 30,567 3,641 25,368 306 27,974 994 Total commercial real estate 104,380 167,566 10,500 126,694 2,695 158,621 9,612 Automobile 29,938 30,470 1,446 29,371 554 29,878 1,659 Home equity: Secured by first-lien 48,690 53,885 3,984 99,474 417 123,010 3,716 Secured by junior-lien 192,196 225,689 17,362 189,211 2,308 179,798 6,525 Total home equity 240,886 279,574 21,346 288,685 2,725 302,808 10,241 Residential mortgage (6): Residential mortgage 383,718 426,569 10,186 374,250 3,209 372,946 9,309 Purchased credit-impaired 1,513 2,292 70 1,776 94 1,908 321 Total residential mortgage 385,231 428,861 10,256 376,026 3,303 374,854 9,630 Other consumer: Other consumer 4,720 4,753 142 4,801 64 4,683 191 Purchased credit-impaired — — — — — — — Total other consumer $ 4,720 $ 4,753 $ 142 $ 4,801 $ 64 $ 4,683 $ 191 December 31, 2014 Three Months Ended Nine Months Ended (dollar amounts in thousands) Ending Balance Unpaid Principal Balance (5) Related Allowance Average Balance Interest Income Recognized Average Balance Interest Income Recognized With no related allowance recorded: Commercial and industrial: Owner occupied $ 13,536 $ 13,536 $ — $ 5,365 $ 50 $ 4,650 $ 134 Purchased credit-impaired — — — — — — — Other commercial and industrial 24,309 26,858 — 5,137 70 6,768 256 Total commercial and industrial 37,845 40,394 $ — 10,502 120 11,418 390 Commercial real estate: Retail properties 61,915 91,627 — 50,023 617 53,117 1,854 Multi family — — — — — — — Office 1,130 3,574 — 4,040 49 4,280 279 Industrial and warehouse 3,447 3,506 — 3,619 45 5,940 221 Purchased credit-impaired 38,371 91,075 — — — — — Other commercial real estate 6,608 6,815 — 7,962 85 6,879 221 Total commercial real estate 111,471 196,597 — 65,644 796 70,216 2,575 Other consumer — — — — — — — Purchased credit-impaired — — — 53 2 91 11 Total other consumer $ — $ — $ — $ 53 $ 2 $ 91 $ 11 With an allowance recorded: Commercial and industrial: (3) Owner occupied $ 44,869 $ 53,639 $ 4,220 $ 39,001 $ 383 $ 39,653 $ 1,172 Purchased credit-impaired 23,228 35,307 3,846 33,056 1,306 34,509 6,508 Other commercial and industrial 134,279 162,908 6,829 108,856 658 79,925 1,937 Total commercial and industrial 202,376 251,854 14,895 180,913 2,347 154,087 9,617 Commercial real estate: (4) Retail properties 37,081 38,397 3,536 67,589 505 66,780 1,569 Multi family 17,277 23,725 2,339 17,551 172 16,472 488 Office 52,953 56,268 8,399 53,262 624 52,981 1,771 Industrial and warehouse 8,888 10,396 720 9,279 90 9,198 199 Purchased credit-impaired — — — 49,979 1,813 64,688 9,034 Other commercial real estate 27,963 33,472 3,893 41,661 469 45,316 1,483 Total commercial real estate 144,162 162,258 18,887 239,321 3,673 255,435 14,544 Automobile 30,612 32,483 1,531 36,209 632 35,643 2,034 Home equity: Secured by first-lien 145,566 157,978 8,296 131,301 1,391 121,861 4,001 Secured by junior-lien 164,880 208,118 17,731 144,919 1,678 124,254 4,539 Total home equity 310,446 366,096 26,027 276,220 3,069 246,115 8,540 Residential mortgage (6): Residential mortgage 369,577 415,280 16,535 391,288 2,813 384,787 8,661 Purchased credit-impaired 1,912 3,096 8 2,369 101 2,373 504 Total residential mortgage 371,489 418,376 16,543 393,657 2,914 387,160 9,165 Other consumer: Other consumer 4,088 4,209 214 3,502 53 2,473 146 Purchased credit-impaired 51 123 245 — — — — Total other consumer $ 4,139 $ 4,332 $ 459 $ 3,502 $ 53 $ 2,473 $ 146 (1) These tables do not include loans fully charged-off or transferred to loans held for sale. (2) All automobile, home equity, residential mortgage, and other consumer impaired loans included in these tables are considered impaired due to their status as a TDR. (3) At September 30, 2015 , $95,616 thousand of the $326,732 thousand commercial and industrial loans with an allowance recorded were considered impaired due to their status as a TDR. At December 31, 2014 , $62,737 thousand of the $202,376 thousand commercial and industrial loans with an allowance recorded were considered impaired due to their status as a TDR. (4) At September 30, 2015 , $45,578 thousand of the $104,380 thousand commercial real estate loans with an allowance recorded were considered impaired due to their status as a TDR. At December 31, 2014 , $27,423 thousand of the $144,162 thousand commercial real estate loans with an allowance recorded were considered impaired due to their status as a TDR. (5) The differences between the ending balance and unpaid principal balance amounts represent partial charge-offs. (6) At September 30, 2015 , $31,767 thousand of the $385,231 thousand residential mortgages loans with an allowance recorded were guaranteed by the U.S. government. At December 31, 2014 , $24,470 thousand of the $371,489 thousand residential mortgage loans with an allowance recorded were guaranteed by the U.S. government. |
Detailed troubled debt restructuring information by class | The following tables present by class and by the reason for the modification, the number of contracts, post-modification outstanding balance, and the financial effects of the modification for the three-month and nine-month periods ended September 30, 2015 and 2014 : New Troubled Debt Restructurings During The Three-Month Period Ended (1) September 30, 2015 September 30, 2014 (dollar amounts in thousands) Number of Contracts Post-modification Outstanding Ending Balance Financial effects of modification (2) Number of Contracts Post-modification Outstanding Ending Balance Financial effects of modification (2) C&I—Owner occupied: Interest rate reduction — $ — $ — 2 $ 360 $ — Amortization or maturity date change 60 29,433 303 27 11,562 132 Other — — — 1 91 — Total C&I—Owner occupied 60 29,433 303 30 12,013 132 C&I—Other commercial and industrial: Interest rate reduction 2 89 (7 ) 2 4,076 (14 ) Amortization or maturity date change 157 104,923 4,523 78 35,952 (202 ) Other 2 338 4 6 683 (6 ) Total C&I—Other commercial and industrial 161 105,350 4,520 86 40,711 (222 ) CRE—Retail properties: Interest rate reduction — — — 1 124 (1 ) Amortization or maturity date change 8 4,360 (125 ) 7 1,997 (4 ) Other — — — — — — Total CRE—Retail properties 8 4,360 (125 ) 8 2,121 (5 ) CRE—Multi family: Interest rate reduction — — — 9 2,744 (75 ) Amortization or maturity date change 6 1,296 320 9 5,724 (3 ) Other — — — 3 470 (4 ) Total CRE—Multi family 6 1,296 320 21 8,938 (82 ) CRE—Office: Interest rate reduction 1 356 6 — — — Amortization or maturity date change 7 26,259 178 6 2,575 (7 ) Other — — — 1 10,564 328 Total CRE—Office 8 26,615 184 7 13,139 321 CRE—Industrial and warehouse: Interest rate reduction — — — — — — Amortization or maturity date change 4 2,692 (30 ) 9 3,610 (45 ) Other — — — — — — Total CRE—Industrial and Warehouse 4 2,692 (30 ) 9 3,610 (45 ) CRE—Other commercial real estate: Interest rate reduction — — — 3 205 95 Amortization or maturity date change 5 934 40 3 1,762 (6 ) Other — — — — — — Total CRE—Other commercial real estate 5 934 40 6 1,967 89 Automobile: Interest rate reduction 5 6 — 7 199 2 Amortization or maturity date change 401 3,445 157 381 2,531 34 Chapter 7 bankruptcy 331 2,585 84 165 1,420 34 Other — — — — — — Total Automobile 737 6,036 241 553 4,150 70 Residential mortgage: Interest rate reduction 3 686 (4 ) 7 633 10 Amortization or maturity date change 261 27,553 (147 ) 64 7,723 (37 ) Chapter 7 bankruptcy 37 3,888 5 33 3,082 128 Other 3 254 — 1 106 — Total Residential mortgage 304 32,381 (146 ) 105 11,544 101 First-lien home equity: Interest rate reduction 11 800 36 29 2,730 42 Amortization or maturity date change 57 4,863 (147 ) 69 5,518 (316 ) Chapter 7 bankruptcy 40 2,288 99 24 1,988 104 Other — — — — — — Total First-lien home equity 108 7,951 (12 ) 122 10,236 (170 ) Junior-lien home equity: Interest rate reduction 7 301 24 3 320 15 Amortization or maturity date change 364 13,979 (2,029 ) 412 16,092 (2,140 ) Chapter 7 bankruptcy 61 552 1,035 49 750 710 Other — — — — — — Total Junior-lien home equity 432 14,832 (970 ) 464 17,162 (1,415 ) Other consumer: Interest rate reduction 1 96 3 1 — — Amortization or maturity date change 1 2 — 14 642 33 Chapter 7 bankruptcy 2 13 — 2 5 — Other — — — — — — Total Other consumer 4 111 3 17 647 33 Total new troubled debt restructurings 1,837 $ 231,991 $ 4,328 1,428 $ 126,238 $ (1,193 ) (1) TDRs may include multiple concessions and the disclosure classifications are based on the primary concession provided to the borrower. (2) Amounts represent the financial impact via provision for loan and lease losses as a result of the modification. New Troubled Debt Restructurings During The Nine-Month Period Ended (1) September 30, 2015 September 30, 2014 (dollar amounts in thousands) Number of Contracts Post-modification Outstanding Ending Balance Financial effects of modification (2) Number of Contracts Post-modification Outstanding Ending Balance Financial effects of modification (2) C&I—Owner occupied: Interest rate reduction 3 $ 235 $ (2 ) 17 $ 2,141 $ 21 Amortization or maturity date change 161 76,400 (1,799 ) 64 19,899 70 Other 3 613 (29 ) 5 1,906 (35 ) Total C&I—Owner occupied 167 77,248 (1,830 ) 86 23,946 56 C&I—Other commercial and industrial: Interest rate reduction 7 524 3 21 49,557 (1,936 ) Amortization or maturity date change 427 341,148 (76,078 ) 187 89,331 156 Other 8 28,850 (430 ) 16 7,354 (75 ) Total C&I—Other commercial and industrial 442 370,522 (76,505 ) 224 146,242 (1,855 ) CRE—Retail properties: Interest rate reduction 1 1,657 (11 ) 4 11,229 420 Amortization or maturity date change 20 15,333 (1,658 ) 17 24,147 (185 ) Other — — — 9 13,765 (35 ) Total CRE—Retail properties 21 16,990 (1,669 ) 30 49,141 200 CRE—Multi family: Interest rate reduction 1 90 — 20 3,484 (75 ) Amortization or maturity date change 36 11,532 291 20 6,104 (5 ) Other 8 216 (6 ) 7 4,770 57 Total CRE—Multi family 45 11,838 285 47 14,358 (23 ) CRE—Office: Interest rate reduction 1 356 7 2 120 (1 ) Amortization or maturity date change 19 57,332 250 16 11,791 (367 ) Other 1 30 (2 ) 5 35,476 (3,153 ) Total CRE—Office 21 57,718 255 23 47,387 (3,521 ) CRE—Industrial and warehouse: Interest rate reduction — — — 2 4,046 — Amortization or maturity date change 9 5,078 61 14 7,166 167 Other — — — 1 977 — Total CRE—Industrial and Warehouse 9 5,078 61 17 12,189 167 CRE—Other commercial real estate: Interest rate reduction — — — 8 5,224 146 Amortization or maturity date change 22 8,665 66 47 74,767 (2,781 ) Other 2 234 (22 ) 2 926 (1 ) Total CRE—Other commercial real estate 24 8,899 44 57 80,917 (2,636 ) Automobile: Interest rate reduction 30 48 2 55 627 10 Amortization or maturity date change 1,213 8,929 411 1,550 9,758 61 Chapter 7 bankruptcy 621 4,946 245 483 3,791 (7 ) Other — — — — — — Total Automobile 1,864 13,923 658 2,088 14,176 64 Residential mortgage: Interest rate reduction 12 1,423 (60 ) 22 2,866 (14 ) Amortization or maturity date change 454 50,827 (342 ) 281 39,025 518 Chapter 7 bankruptcy 106 10,948 (126 ) 150 15,573 503 Other 9 962 — 4 405 5 Total Residential mortgage 581 64,160 (528 ) 457 57,869 1,012 First-lien home equity: Interest rate reduction 32 3,379 104 124 10,696 646 Amortization or maturity date change 171 14,906 (775 ) 204 16,682 (647 ) Chapter 7 bankruptcy 88 5,143 233 67 4,410 204 Other — — — — — — Total First-lien home equity 291 23,428 (438 ) 395 31,788 203 Junior-lien home equity: Interest rate reduction 15 650 45 171 6,142 185 Amortization or maturity date change 1,130 48,563 (7,580 ) 1,045 41,177 (5,732 ) Chapter 7 bankruptcy 169 1,977 3,280 152 2,363 2,148 Other — — — — — — Total Junior-lien home equity 1,314 51,190 (4,255 ) 1,368 49,682 (3,399 ) Other consumer: Interest rate reduction 1 96 3 1 — — Amortization or maturity date change 7 130 6 44 1,777 11 Chapter 7 bankruptcy 7 58 9 21 446 (51 ) Other — — — — — — Total Other consumer 15 284 18 66 2,223 (40 ) Total new troubled debt restructurings 4,794 $ 701,278 $ (83,904 ) 4,858 $ 529,918 $ (9,772 ) (1) TDRs may include multiple concessions and the disclosure classifications are based on the primary concession provided to the borrower. (2) Amount represents the financial impact via provision for loan and lease losses as a result of the modification. Any loan within any portfolio or class is considered to be in payment redefault at 90 -days past due. The following tables present TDRs that have defaulted within one year of modification during the three-month and nine-month periods ended September 30, 2015 and 2014 : Troubled Debt Restructurings That Have Redefaulted (1) Within One Year of Modification During The Three Months Ended September 30, 2015 September 30, 2014 (dollar amounts in thousands) Number of Contracts Ending Balance Number of Contracts Ending Balance C&I—Owner occupied: Interest rate reduction — $ — — $ — Amortization or maturity date change 2 328 2 388 Other — — — — Total C&I—Owner occupied 2 328 2 388 C&I—Other commercial and industrial: Interest rate reduction — — — — Amortization or maturity date change 11 964 3 88 Other — — — — Total C&I—Other commercial and industrial 11 964 3 88 CRE—Retail Properties: Interest rate reduction — — — — Amortization or maturity date change — — — — Other — — — — Total CRE—Retail properties — — — — CRE—Multi family: Interest rate reduction — — Amortization or maturity date change 2 443 1 138 Other 1 140 — — Total CRE—Multi family 3 583 1 138 CRE—Office: Interest rate reduction — — — — Amortization or maturity date change 1 1,596 — — Other — — — — Total CRE—Office 1 1,596 — — CRE—Industrial and Warehouse: Interest rate reduction — — 1 1,339 Amortization or maturity date change — — — — Other — — — — Total CRE—Industrial and Warehouse — — 1 1,339 CRE—Other commercial real estate: Interest rate reduction — — — — Amortization or maturity date change 1 93 1 197 Other — — — — Total CRE—Other commercial real estate 1 93 1 197 Automobile: Interest rate reduction — — — — Amortization or maturity date change 12 99 13 144 Chapter 7 bankruptcy 2 10 5 31 Other — — — — Total Automobile 14 109 18 175 Residential mortgage: Interest rate reduction 2 178 1 118 Amortization or maturity date change 19 1,624 20 2,300 Chapter 7 bankruptcy 3 310 10 1,007 Other — — — — Total Residential mortgage 24 2,112 31 3,425 First-lien home equity: Interest rate reduction 3 232 1 39 Amortization or maturity date change — — 6 998 Chapter 7 bankruptcy 3 265 6 243 Other — — — — Total First-lien home equity 6 497 13 1,280 Junior-lien home equity: Interest rate reduction 1 214 — — Amortization or maturity date change 7 220 8 578 Chapter 7 bankruptcy 2 — 15 24 Other — — — — Total Junior-lien home equity 10 434 23 602 Other consumer: Interest rate reduction — — — — Amortization or maturity date change — — — — Chapter 7 bankruptcy — — — — Other — — — — Total Other consumer — — — — Total troubled debt restructurings with subsequent redefault 72 $ 6,716 93 $ 7,632 (1) Subsequent redefault is defined as a payment redefault within 12 months of the restructuring date. Payment redefault is defined as 90 -days past due for any loan within any portfolio or class. Any loan may be considered to be in payment redefault prior to the guidelines noted above when collection of principal or interest is in doubt. Troubled Debt Restructurings That Have Redefaulted (1) Within One Year of Modification During The Nine Months Ended September 30, 2015 September 30, 2014 (dollar amounts in thousands) Number of Contracts Ending Balance Number of Contracts Ending Balance C&I—Owner occupied: Interest rate reduction — $ — — $ — Amortization or maturity date change 5 900 4 788 Other — — 1 230 Total C&I—Owner occupied 5 900 5 1,018 C&I—Other commercial and industrial: Interest rate reduction 1 27 — — Amortization or maturity date change 21 2,650 10 1,132 Other — — — — Total C&I—Other commercial and industrial 22 2,677 10 1,132 CRE—Retail Properties: Interest rate reduction 1 47 — — Amortization or maturity date change 1 6,482 — — Other — — — — Total CRE—Retail properties 2 6,529 — — CRE—Multi family: Interest rate reduction — $ — — — Amortization or maturity date change 10 1,354 2 350 Other 1 140 — — Total CRE—Multi family 11 1,494 2 350 CRE—Office: Interest rate reduction — — — — Amortization or maturity date change 3 2,984 1 493 Other — — — — Total CRE—Office 3 2,984 1 493 CRE—Industrial and Warehouse: Interest rate reduction — — 1 1,339 Amortization or maturity date change — — — — Other — — — — Total CRE—Industrial and Warehouse — — 1 1,339 CRE—Other commercial real estate: Interest rate reduction — — — — Amortization or maturity date change 1 93 2 758 Other — — — — Total CRE—Other commercial real estate 1 93 2 758 Automobile: Interest rate reduction 1 4 — — Amortization or maturity date change 24 298 39 326 Chapter 7 bankruptcy 16 133 42 262 Other — — — — Total Automobile 41 435 81 588 Residential mortgage: Interest rate reduction 3 239 4 468 Amortization or maturity date change 45 4,225 64 7,354 Chapter 7 bankruptcy 7 699 33 2,952 Other — — — — Total Residential mortgage 55 5,163 101 10,774 First-lien home equity: Interest rate reduction 4 387 3 202 Amortization or maturity date change 4 258 14 1,928 Chapter 7 bankruptcy 26 2,191 14 843 Other — — — — Total First-lien home equity 34 2,836 31 2,973 Junior-lien home equity: Interest rate reduction 3 411 — — Amortization or maturity date change 27 1,018 22 1,276 Chapter 7 bankruptcy 14 401 37 620 Other — — — — Total Junior-lien home equity 44 1,830 59 1,896 Other consumer: Interest rate reduction — — — — Amortization or maturity date change — — — — Chapter 7 bankruptcy — — — — Other — — — — Total Other consumer — — — — Total troubled debt restructurings with subsequent redefault 218 $ 24,941 293 $ 21,321 (1) Subsequent redefault is defined as a payment redefault within 12 months of the restructuring date. Payment redefault is defined as 90 -days past due for any loan in any portfolio or class. Any loan in any portfolio or class may be considered to be in payment redefault prior to the guidelines noted above when collection of principal or interest is in doubt. |
AVAILABLE-FOR-SALE AND OTHER 30
AVAILABLE-FOR-SALE AND OTHER SECURITIES (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Contractual maturities of investment securities | Listed below are the contractual maturities (under 1 year, 1-5 years, 6-10 years, and over 10 years) of available-for-sale and other securities at September 30, 2015 and December 31, 2014 : September 30, 2015 December 31, 2014 (dollar amounts in thousands) Amortized Cost Fair Value Amortized Cost Fair Value U.S. Treasury, Federal agency, and other agency securities: U.S. Treasury: 1 year or less $ 8,583 $ 8,585 $ — $ — After 1 year through 5 years 5,451 5,510 5,435 5,452 After 5 years through 10 years — — — — After 10 years — — — — Total U.S. Treasury 14,034 14,095 5,435 5,452 Federal agencies: mortgage-backed securities: 1 year or less 52,951 53,052 47,023 47,190 After 1 year through 5 years 125,173 128,473 216,775 221,078 After 5 years through 10 years 227,466 231,846 184,576 186,938 After 10 years 6,261,562 6,350,842 4,825,525 4,867,495 Total Federal agencies: mortgage-backed securities 6,667,152 6,764,213 5,273,899 5,322,701 Other agencies: 1 year or less 1,702 1,712 33,047 33,237 After 1 year through 5 years 8,264 8,672 9,122 9,575 After 5 years through 10 years 214,184 219,193 103,530 105,019 After 10 years 144,292 146,961 204,016 203,712 Total other agencies 368,442 376,538 349,715 351,543 Total U.S. Treasury, Federal agency, and other agency securities 7,049,628 7,154,846 5,629,049 5,679,696 Municipal securities: 1 year or less 280,971 276,600 256,399 255,835 After 1 year through 5 years 499,125 501,559 269,385 274,003 After 5 years through 10 years 987,208 993,630 938,780 945,954 After 10 years 530,386 556,302 376,747 392,777 Total municipal securities 2,297,690 2,328,091 1,841,311 1,868,569 Private-label CMO: 1 year or less — — — — After 1 year through 5 years — — — — After 5 years through 10 years — — 1,314 1,371 After 10 years — — 42,416 40,555 Total private-label CMO — — 43,730 41,926 Asset-backed securities: 1 year or less — — — — After 1 year through 5 years 90,168 90,580 228,852 229,364 After 5 years through 10 years 128,425 129,530 144,163 144,193 After 10 years 624,998 593,899 641,984 582,441 Total asset-backed securities 843,591 814,009 1,014,999 955,998 Corporate debt: 1 year or less 20,695 20,746 18,767 18,953 After 1 year through 5 years 325,773 333,460 314,773 323,503 After 5 years through 10 years 95,909 94,883 145,611 143,720 After 10 years — — — — Total corporate debt 442,377 449,089 479,151 486,176 Other: 1 year or less — — 250 250 After 1 year through 5 years 3,950 3,914 3,150 3,066 After 5 years through 10 years — — — — After 10 years — — — — Non-marketable equity securities 332,418 332,418 331,559 331,559 Mutual funds 11,154 11,153 16,151 16,161 Marketable equity securities 755 1,348 536 1,269 Total other 348,277 348,833 351,646 352,305 Total available-for-sale and other securities $ 10,981,563 $ 11,094,868 $ 9,359,886 $ 9,384,670 |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | The following tables provide amortized cost, fair value, and gross unrealized gains and losses recognized in OCI by investment category at September 30, 2015 and December 31, 2014 : Unrealized (dollar amounts in thousands) Amortized Cost Gross Gains Gross Losses Fair Value September 30, 2015 U.S. Treasury $ 14,034 $ 61 $ — $ 14,095 Federal agencies: Mortgage-backed securities 6,667,152 104,044 (6,983 ) 6,764,213 Other agencies 368,442 8,096 — 376,538 Total U.S. Treasury, Federal agency securities 7,049,628 112,201 (6,983 ) 7,154,846 Municipal securities 2,297,690 49,426 (19,025 ) 2,328,091 Private-label CMO — — — — Asset-backed securities 843,591 4,471 (34,053 ) 814,009 Corporate debt 442,377 7,983 (1,271 ) 449,089 Other securities 348,277 592 (36 ) 348,833 Total available-for-sale and other securities $ 10,981,563 $ 174,673 $ (61,368 ) $ 11,094,868 Unrealized (dollar amounts in thousands) Amortized Cost Gross Gains Gross Losses Fair Value December 31, 2014 U.S. Treasury $ 5,435 $ 17 $ — $ 5,452 Federal agencies: Mortgage-backed securities 5,273,899 63,906 (15,104 ) 5,322,701 Other agencies 349,715 2,871 (1,043 ) 351,543 Total U.S. Treasury, Federal agency securities 5,629,049 66,794 (16,147 ) 5,679,696 Municipal securities 1,841,311 37,398 (10,140 ) 1,868,569 Private-label CMO 43,730 1,116 (2,920 ) 41,926 Asset-backed securities 1,014,999 2,061 (61,062 ) 955,998 Corporate debt 479,151 9,442 (2,417 ) 486,176 Other securities 351,646 743 (84 ) 352,305 Total available-for-sale and other securities $ 9,359,886 $ 117,554 $ (92,770 ) $ 9,384,670 |
Available for sale securities in an unrealized loss position table text block | The following tables provide detail on investment securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position, at September 30, 2015 and December 31, 2014 : Less than 12 Months Over 12 Months Total (dollar amounts in thousands ) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses September 30, 2015 Federal agencies: Mortgage-backed securities $ 417,246 $ (1,087 ) $ 262,384 $ (5,896 ) $ 679,630 $ (6,983 ) Other agencies — — — — — — Total Federal agency securities 417,246 (1,087 ) 262,384 (5,896 ) 679,630 (6,983 ) Municipal securities 282,128 (11,078 ) 243,660 (7,947 ) 525,788 (19,025 ) Private-label CMO — — — — — — Asset-backed securities 102,467 (221 ) 248,239 (33,832 ) 350,706 (34,053 ) Corporate debt 45,450 (469 ) 21,876 (802 ) 67,326 (1,271 ) Other securities 788 (22 ) 1,486 (14 ) 2,274 (36 ) Total temporarily impaired securities $ 848,079 $ (12,877 ) $ 777,645 $ (48,491 ) $ 1,625,724 $ (61,368 ) Less than 12 Months Over 12 Months Total (dollar amounts in thousands ) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2014 Federal agencies: Mortgage-backed securities $ 501,858 $ (1,909 ) $ 527,280 $ (13,195 ) $ 1,029,138 $ (15,104 ) Other agencies 159,708 (1,020 ) 1,281 (23 ) 160,989 (1,043 ) Total Federal agency securities 661,566 (2,929 ) 528,561 (13,218 ) 1,190,127 (16,147 ) Municipal securities 568,619 (9,127 ) 96,426 (1,013 ) 665,045 (10,140 ) Private-label CMO — — 22,650 (2,920 ) 22,650 (2,920 ) Asset-backed securities 157,613 (641 ) 325,691 (60,421 ) 483,304 (61,062 ) Corporate debt 49,562 (252 ) 88,398 (2,165 ) 137,960 (2,417 ) Other securities — — 1,416 (84 ) 1,416 (84 ) Total temporarily impaired securities $ 1,437,360 $ (12,949 ) $ 1,063,142 $ (79,821 ) $ 2,500,502 $ (92,770 ) |
Realized securities gains and losses | The following table rolls forward the OTTI recognized in earnings on debt securities held by Huntington for the three-month and nine -month periods ended September 30, 2015 and 2014 as follows: Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Balance, beginning of period $ 30,869 $ 30,869 $ 30,869 $ 30,869 Reductions from sales/maturities (14,941 ) — (14,941 ) — Additional credit losses 2,440 — 2,440 — Balance, end of period $ 18,368 $ 30,869 $ 18,368 $ 30,869 The following table is a summary of realized securities gains and losses for the three-month and nine-month periods ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Gross gains on sales of securities $ 6,173 $ 198 $ 6,256 $ 17,678 Gross (losses) on sales of securities (5,985 ) — (5,986 ) (20 ) Net gain on sales of securities $ 188 $ 198 $ 270 $ 17,658 For the three-month and nine -month periods ended September 30, 2015 and 2014 , the following table summarizes by security type the total OTTI losses recognized in the Unaudited Condensed Consolidated Statements of Income for securities evaluated for impairment as described above. Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Available-for-sale and other securities: Pooled-trust-preferred $ 2,440 $ — $ 2,440 $ — Total debt securities 2,440 — 2,440 — Total available-for-sale and other securities $ 2,440 $ — $ 2,440 $ — |
Trust Preferred Securities Data | The following table summarizes the relevant characteristics of our CDO securities portfolio, which are included in asset-backed securities, at September 30, 2015 . Each security is part of a pool of issuers and supports a more senior tranche of securities except for the MM Comm III securities which are the most senior class. Collateralized Debt Obligation Data September 30, 2015 (dollar amounts in thousands) Deal Name Par Value Amortized Cost Fair Value Unrealized Loss (2) Lowest Credit Rating (3) # of Issuers Currently Performing/ Remaining (4) Actual Deferrals and Defaults as a % of Original Collateral Expected Defaults as a % of Remaining Performing Collateral Excess Subordination (5) Alesco II $ 41,646 $ 28,229 $ 25,392 $ (2,838 ) C 30/32 5 % 7 % 4 % ICONS 19,515 19,515 15,670 (3,844 ) BB 19/21 7 16 57 MM Comm III 5,459 5,216 4,341 (875 ) BB 6/9 5 6 32 Pre TSL IX 5,000 3,955 3,019 (936 ) C 27/38 18 10 6 Pre TSL XI 25,000 20,278 15,475 (4,803 ) C 42/55 16 9 9 Pre TSL XIII 27,530 19,869 16,840 (3,028 ) C 46/56 10 11 23 Reg Diversified (1) 25,500 5,706 1,765 (3,942 ) D 24/40 33 7 — Tropic III 31,000 31,000 18,671 (12,329 ) CCC+ 29/40 20 8 39 Total at September 30, 2015 $ 180,650 $ 133,768 $ 101,173 $ (32,595 ) Total at December 31, 2014 $ 193,597 $ 139,194 $ 82,738 $ (56,456 ) (1) Security was determined to have OTTI. As such, the carrying value is net of recorded credit impairment. (2) These securities have been in a continuous loss position for longer than 12 months. (3) For purposes of comparability, the lowest credit rating expressed is equivalent to Fitch ratings even where the lowest rating is based on another nationally recognized credit rating agency. (4) Includes both banks and/or insurance companies. (5) Excess subordination percentage represents the additional defaults in excess of both current and projected defaults that the CDO can absorb before the bond experiences credit impairment. Excess subordinated percentage is calculated by (a) determining what percentage of defaults a deal can experience before the bond has credit impairment, and (b) subtracting from this default breakage percentage both total current and expected future default percentages. |
HELD-TO-MATURITY SECURITIES (Ta
HELD-TO-MATURITY SECURITIES (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Held-to-maturity Securities [Abstract] | |
Contractual maturities of held-to-maturity securities | Listed below are the contractual maturities (under 1 year, 1-5 years, 6-10 years, and over 10 years) of held-to-maturity securities at September 30, 2015 and December 31, 2014 : September 30, 2015 December 31, 2014 (dollar amounts in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Federal agencies: mortgage-backed securities: 1 year or less $ — $ — $ — $ — After 1 year through 5 years — — — — After 5 years through 10 years 24,901 24,783 24,901 24,263 After 10 years 2,769,071 2,799,820 3,136,460 3,140,194 Total Federal agencies: mortgage-backed securities 2,793,972 2,824,603 3,161,361 3,164,457 Other agencies: 1 year or less — — — — After 1 year through 5 years — — — — After 5 years through 10 years 106,687 109,015 54,010 54,843 After 10 years 249,813 251,151 156,553 155,821 Total other agencies 356,500 360,166 210,563 210,664 Total U.S. Government backed agencies 3,150,472 3,184,769 3,371,924 3,375,121 Municipal securities: 1 year or less — — — — After 1 year through 5 years — — — — After 5 years through 10 years — — — — After 10 years 7,216 7,138 7,981 7,594 Total municipal securities 7,216 7,138 7,981 7,594 Total held-to-maturity securities $ 3,157,688 $ 3,191,907 $ 3,379,905 $ 3,382,715 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | The following table provides amortized cost, gross unrealized gains and losses, and fair value by investment category at September 30, 2015 and December 31, 2014 : Unrealized (dollar amounts in thousands) Amortized Cost Gross Gains Gross Losses Fair Value September 30, 2015 Federal Agencies: Mortgage-backed securities $ 2,793,972 $ 39,101 $ (8,470 ) $ 2,824,603 Other agencies 356,500 3,968 (302 ) 360,166 Total U.S. Government backed agencies 3,150,472 43,069 (8,772 ) 3,184,769 Municipal securities 7,216 — (78 ) 7,138 Total held-to-maturity securities $ 3,157,688 $ 43,069 $ (8,850 ) $ 3,191,907 Unrealized (dollar amounts in thousands) Amortized Cost Gross Gains Gross Losses Fair Value December 31, 2014 Federal Agencies: Mortgage-backed securities $ 3,161,361 $ 24,832 $ (21,736 ) $ 3,164,457 Other agencies 210,563 1,251 (1,150 ) 210,664 Total U.S. Government backed agencies 3,371,924 26,083 (22,886 ) 3,375,121 Municipal securities 7,981 — (387 ) 7,594 Total held-to-maturity securities $ 3,379,905 $ 26,083 $ (23,273 ) $ 3,382,715 |
Investment securities in an unrealized loss position | The following tables provide detail on held-to-maturity securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position, at September 30, 2015 and December 31, 2014 : Less than 12 Months Over 12 Months Total (dollar amounts in thousands ) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses September 30, 2015 Federal Agencies: Mortgage-backed securities $ 286,835 $ (1,200 ) $ 372,269 $ (7,270 ) $ 659,104 $ (8,470 ) Other agencies 110,529 (272 ) 7,073 (30 ) 117,602 (302 ) Total U.S. Government backed securities 397,364 (1,472 ) 379,342 (7,300 ) 776,706 (8,772 ) Municipal securities — — 7,138 (78 ) 7,138 (78 ) Total temporarily impaired securities $ 397,364 $ (1,472 ) $ 386,480 $ (7,378 ) $ 783,844 $ (8,850 ) Less than 12 Months Over 12 Months Total (dollar amounts in thousands ) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2014 Federal Agencies: Mortgage-backed securities $ 707,934 $ (5,550 ) $ 622,026 $ (16,186 ) $ 1,329,960 $ (21,736 ) Other agencies 36,956 (198 ) 71,731 (952 ) 108,687 (1,150 ) Total U.S. Government backed securities 744,890 (5,748 ) 693,757 (17,138 ) 1,438,647 (22,886 ) Municipal securities 7,594 (387 ) — — 7,594 (387 ) Total temporarily impaired securities $ 752,484 $ (6,135 ) $ 693,757 $ (17,138 ) $ 1,446,241 $ (23,273 ) |
LOAN SALES AND SECURITIZATIONS
LOAN SALES AND SECURITIZATIONS (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Transfers and Servicing [Abstract] | |
Summarizes activity relating to loans securitized sold with servicing retained | Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Automobile loans securitized with servicing retained $ — $ — $ 750,000 $ — Pretax gains resulting from above loan sales (1) — — 5,333 — The following table summarizes activity relating to residential mortgage loans sold with servicing retained for the three-month and nine-month periods ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Residential mortgage loans sold with servicing retained $ 920,974 $ 654,747 $ 2,490,070 $ 1,703,056 Pretax gains resulting from above loan sales (1) 22,529 16,781 64,103 43,853 (1) Recorded in mortgage banking income. Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 SBA loans sold with servicing retained $ 49,216 $ 63,470 $ 145,150 $ 149,571 Pretax gains resulting from above loan sales (1) 3,712 7,432 11,981 17,204 |
Summarizes activity relating to loans sold with servicing retained using the fair value method | The following tables summarize the changes in MSRs recorded using either the fair value method or the amortization method for the three-month and nine-month periods ended September 30, 2015 and 2014 : Fair Value Method: Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Fair value, beginning of period $ 20,681 $ 26,747 $ 22,786 $ 34,236 Change in fair value during the period due to: Time decay (1) (324 ) (467 ) (996 ) (1,848 ) Payoffs (2) (651 ) (1,343 ) (2,465 ) (4,869 ) Changes in valuation inputs or assumptions (3) (1,641 ) 501 (1,260 ) (2,081 ) Fair value, end of period: $ 18,065 $ 25,438 $ 18,065 $ 25,438 Weighted-average life (years) 4.9 5.2 4.9 5.2 (1) Represents decrease in value due to passage of time, including the impact from both regularly scheduled loan principal payments and partial loan paydowns. (2) Represents decrease in value associated with loans that paid off during the period. (3) Represents change in value resulting primarily from market-driven changes in interest rates and prepayment speeds. |
Summarizes activity relating to loans sold with servicing retained using the amortization method | Amortization Method: Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Carrying value, beginning of period $ 143,127 $ 133,113 $ 132,813 $ 128,064 New servicing assets created 9,918 7,173 26,710 17,802 Servicing assets acquired — — — 3,505 Impairment (charge) / recovery (12,472 ) 487 (7,492 ) (1,573 ) Amortization and other (5,106 ) (4,311 ) (16,564 ) (11,336 ) Carrying value, end of period $ 135,467 $ 136,462 $ 135,467 $ 136,462 Fair value, end of period $ 135,499 $ 141,976 $ 135,499 $ 141,976 Weighted-average life (years) 6.0 6.7 6.0 6.7 Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Carrying value, beginning of period $ 18,272 $ 17,192 $ 18,536 $ 16,865 New servicing assets created 1,684 2,181 4,980 5,042 Amortization and other (1,594 ) (1,458 ) (5,154 ) (3,992 ) Carrying value, end of period $ 18,362 $ 17,915 $ 18,362 $ 17,915 Fair value, end of period $ 20,906 $ 17,915 $ 20,906 $ 17,915 Weighted-average life (years) 3.3 3.5 3.3 3.5 |
Summary of key assumptions and the sensitivity of the servicing rights value to changes in the assumptions | For MSRs under the fair value method, a summary of key assumptions and the sensitivity of the MSR value at September 30, 2015 and December 31, 2014 , to changes in these assumptions follows: September 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to (dollar amounts in thousands) Actual 10% adverse change 20% adverse change Actual 10% adverse change 20% adverse change Constant prepayment rate (annualized) 14.30 % $ (880 ) $ (1,688 ) 15.60 % $ (1,176 ) $ (2,248 ) Spread over forward interest rate swap rates 599 bps (566 ) (1,097 ) 546 bps (699 ) (1,355 ) For MSRs under the amortization method, a summary of key assumptions and the sensitivity of the MSR value at September 30, 2015 and December 31, 2014 , to changes in these assumptions follows: September 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to (dollar amounts in thousands) Actual 10% adverse change 20% adverse change Actual 10% adverse change 20% adverse change Constant prepayment rate (annualized) 11.20 % $ (5,300 ) $ (10,187 ) 11.40 % $ (5,289 ) $ (10,164 ) Spread over forward interest rate swap rates 971 bps (4,291 ) (8,303 ) 856 bps (4,343 ) (8,403 ) September 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to (dollar amounts in thousands) Actual 10% adverse change 20% adverse change Actual 10% adverse change 20% adverse change Constant prepayment rate (annualized) 15.90 % $ (374 ) $ (672 ) 14.62 % $ (305 ) $ (496 ) Spread over forward interest rate swap rates 500 bps (8 ) (16 ) 500 bps (2 ) (4 ) September 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to (dollar amounts in thousands) Actual 10% adverse change 20% adverse change Actual 10% adverse change 20% adverse change Constant prepayment rate (annualized) 7.80 % $ (299 ) $ (593 ) 5.60 % $ (211 ) $ (419 ) Discount rate 1,500 bps (559 ) (1,096 ) 1,500 bps (563 ) (1,102 ) |
GOODWILL AND OTHER INTANGIBLE33
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill by business segment | Business segments are based on segment leadership structure, which reflects how segment performance is monitored and assessed. We have five major business segments: Retail and Business Banking, Commercial Banking, Automobile Finance and Commercial Real Estate (AFCRE), Regional Banking and The Huntington Private Client Group (RBHPCG), and Home Lending. A Treasury / Other function includes, along with technology and operations, other unallocated assets, liabilities, revenue, and expense. A rollforward of goodwill by business segment for the first nine-month period of 2015 is presented in the table below: (dollar amounts in thousands) Retail & Commercial AFCRE RBHPCG Home Treasury/ Huntington Balance, beginning of period $ 368,097 $ 59,594 $ — $ 90,012 $ — $ 4,838 $ 522,541 Goodwill acquired during the period — 155,828 — — — — 155,828 Adjustments — — — (1,500 ) — — (1,500 ) Impairment — — — — — — — Balance, end of period $ 368,097 $ 215,422 $ — $ 88,512 $ — $ 4,838 $ 676,869 |
Summary of other intangible assets | At September 30, 2015 and December 31, 2014 , Huntington’s other intangible assets consisted of the following: (dollar amounts in thousands) Gross Accumulated Net September 30, 2015 Core deposit intangible $ 400,058 $ (383,459 ) $ 16,599 Customer relationship 116,120 (74,025 ) 42,095 Other 25,164 (25,065 ) 99 Total other intangible assets $ 541,342 $ (482,549 ) $ 58,793 December 31, 2014 Core deposit intangible $ 400,058 $ (366,907 ) $ 33,151 Customer relationship 107,920 (66,534 ) 41,386 Other 25,164 (25,030 ) 134 Total other intangible assets $ 533,142 $ (458,471 ) $ 74,671 |
Estimated amortization expense of other intangible assets | The estimated amortization expense of other intangible assets for the remainder of 2015 and the next five years is as follows: (dollar amounts in thousands) Amortization Expense 2015 $ 3,786 2016 14,316 2017 12,908 2018 11,135 2019 9,825 2020 3,076 |
OTHER COMPREHENSIVE INCOME (Tab
OTHER COMPREHENSIVE INCOME (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Equity [Abstract] | |
Components of other comprehensive income | The components of other comprehensive income for the three-month and nine-month periods ended September 30, 2015 and 2014 , were as follows: Three Months Ended Tax (Expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 131 $ (46 ) $ 85 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period 65,398 (23,136 ) 42,262 Less: Reclassification adjustment for net losses (gains) included in net income (3,732 ) 1,306 (2,426 ) Net change in unrealized holding gains (losses) on available-for-sale debt securities 61,797 (21,876 ) 39,921 Net change in unrealized holding gains (losses) on available-for-sale equity securities (177 ) 62 (115 ) Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period 12,770 (4,469 ) 8,301 Less: Reclassification adjustment for net (gains) losses included in net income (73 ) 26 (47 ) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships 12,697 (4,443 ) 8,254 Net change in pension and other post-retirement obligations (3,305 ) 1,157 (2,148 ) Total other comprehensive income (loss) $ 71,012 $ (25,100 ) $ 45,912 Three Months Ended Tax (Expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 3,289 $ (1,163 ) $ 2,126 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period (14,000 ) 4,908 (9,092 ) Less: Reclassification adjustment for net losses (gains) included in net income 250 (88 ) 162 Net change in unrealized holding gains (losses) on available-for-sale debt securities (10,461 ) 3,657 (6,804 ) Net change in unrealized holding gains (losses) on available-for-sale equity securities 18 (6 ) 12 Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period (32,512 ) 11,379 (21,133 ) Less: Reclassification adjustment for net (gains) losses included in net income (148 ) 52 (96 ) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships (32,660 ) 11,431 (21,229 ) Net change in pension and other post-retirement obligations 8,818 (3,086 ) 5,732 Total other comprehensive income (loss) $ (34,285 ) $ 11,996 $ (22,289 ) Nine Months Ended Tax (expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 18,866 $ (6,671 ) $ 12,195 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period 73,782 (26,240 ) 47,542 Less: Reclassification adjustment for net losses (gains) included in net income (3,973 ) 1,391 (2,582 ) Net change in unrealized holding gains (losses) on available-for-sale debt securities 88,675 (31,520 ) 57,155 Net change in unrealized holding gains (losses) on available-for-sale equity securities (152 ) 53 (99 ) Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period 40,088 (14,031 ) 26,057 Less: Reclassification adjustment for net (gains) losses included in net income (334 ) 117 (217 ) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships 39,754 (13,914 ) 25,840 Net change in pension and other post-retirement obligations (527 ) 184 (343 ) Total other comprehensive income (loss) $ 127,750 $ (45,197 ) $ 82,553 Nine Months Ended Tax (expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 11,949 $ (4,225 ) $ 7,724 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period 48,682 (17,439 ) 31,243 Less: Reclassification adjustment for net losses (gains) included in net income (15,409 ) 5,393 (10,016 ) Net change in unrealized holding gains (losses) on available-for-sale debt securities 45,222 (16,271 ) 28,951 Net change in unrealized holding gains (losses) on available-for-sale equity securities 394 (138 ) 256 Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period (2,454 ) 858 (1,596 ) Less: Reclassification adjustment for net (gains) losses included in net income (3,853 ) 1,349 (2,504 ) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships (6,307 ) 2,207 (4,100 ) Net change in pension and other post-retirement obligations 10,594 (3,708 ) 6,886 Total other comprehensive income (loss) $ 49,903 $ (17,910 ) $ 31,993 |
Activity in accumulated other comprehensive income, net of tax | The following table presents activity in accumulated other comprehensive income (loss), net of tax, for the nine -month periods ended September 30, 2015 and 2014 : (dollar amounts in thousands) Unrealized gains and (losses) on debt securities (1) Unrealized gains and (losses) on equity securities Unrealized gains and (losses) on cash flow hedging derivatives Unrealized gains (losses) for pension and other post- retirement obligations Total December 31, 2013 $ (39,234 ) $ 292 $ (18,844 ) $ (156,223 ) $ (214,009 ) Other comprehensive income before reclassifications 38,967 256 (1,596 ) — 37,627 Amounts reclassified from accumulated OCI to earnings (10,016 ) — (2,504 ) 6,886 (5,634 ) Period change 28,951 256 (4,100 ) 6,886 31,993 September 30, 2014 $ (10,283 ) $ 548 $ (22,944 ) $ (149,337 ) $ (182,016 ) December 31, 2014 $ 15,137 $ 484 $ (12,233 ) $ (225,680 ) $ (222,292 ) Other comprehensive income before reclassifications 59,737 (99 ) 26,057 — 85,695 Amounts reclassified from accumulated OCI to earnings (2,582 ) — (217 ) (343 ) (3,142 ) Period change 57,155 (99 ) 25,840 (343 ) 82,553 September 30, 2015 $ 72,292 $ 385 $ 13,607 $ (226,023 ) $ (139,739 ) (1) Amounts at September 30, 2015 and December 31, 2014 include $1.0 million and $0.8 million , respectively, of net unrealized losses on securities transferred from the available-for-sale securities portfolio to the held-to-maturity securities portfolio. The net unrealized gains will be recognized in earnings over the remaining life of the security using the effective interest method. |
Reclassification Out Of Accumulated OCI | The following table presents the reclassification adjustments out of accumulated OCI included in net income and the impacted line items as listed on the Unaudited Condensed Consolidated Statements of Income for the three and nine month periods ended September 30, 2015 and 2014 : Reclassifications out of accumulated OCI Accumulated OCI components Amounts reclassified from accumulated OCI Location of net gain (loss) reclassified from accumulated OCI into earnings Three Months Ended (dollar amounts in thousands) September 30, 2015 September 30, 2014 Gains (losses) on debt securities: Amortization of unrealized gains (losses) $ 69 $ 138 Interest income - held-to-maturity securities - taxable Realized gain (loss) on sale of securities 6,103 (388 ) Noninterest income - net gains (losses) on sale of securities OTTI recorded (2,440 ) — Noninterest income - net gains (losses) on sale of securities 3,732 (250 ) Total before tax (1,306 ) 88 Tax (expense) benefit $ 2,426 $ (162 ) Net of tax Gains (losses) on cash flow hedging relationships: Interest rate contracts $ 73 $ 148 Interest income - loans and leases Interest rate contracts — — Noninterest income - other income 73 148 Total before tax (26 ) (52 ) Tax (expense) benefit $ 47 $ 96 Net of tax Amortization of defined benefit pension and post-retirement items: Actuarial gains (losses) $ 3,305 $ (8,818 ) Noninterest expense - personnel costs 3,305 (8,818 ) Total before tax (1,157 ) 3,086 Tax (expense) benefit $ 2,148 $ (5,732 ) Net of tax Reclassifications out of accumulated OCI Accumulated OCI components Amounts reclassified from accumulated OCI Location of net gain (loss) reclassified from accumulated OCI into earnings Nine Months Ended (dollar amounts in thousands) September 30, 2015 September 30, 2014 Gains (losses) on debt securities: Amortization of unrealized gains (losses) $ 269 $ 476 Interest income - held-to-maturity securities - taxable Realized gain (loss) on sale of securities 6,144 14,933 Noninterest income - net gains (losses) on sale of securities OTTI recorded (2,440 ) — Noninterest income - net gains (losses) on sale of securities 3,973 15,409 Total before tax (1,391 ) (5,393 ) Tax (expense) benefit $ 2,582 $ 10,016 Net of tax Gains (losses) on cash flow hedging relationships: Interest rate contracts $ 323 $ 3,935 Interest income - loans and leases Interest rate contracts 11 (82 ) Noninterest income - other income 334 3,853 Total before tax (117 ) (1,349 ) Tax (expense) benefit $ 217 $ 2,504 Net of tax Amortization of defined benefit pension and post-retirement items: Actuarial gains (losses) $ 527 $ (10,594 ) Noninterest expense - personnel costs 527 (10,594 ) Total before tax (184 ) 3,708 Tax (expense) benefit $ 343 $ (6,886 ) Net of tax |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Basic and diluted earnings loss per share | The calculation of basic and diluted earnings per share for three-month and nine -month periods ended September 30, 2015 and 2014 , was as follows: Three Months Ended Nine Months Ended (dollar amounts in thousands, except per share amounts) 2015 2014 2015 2014 Basic earnings per common share: Net income $ 152,588 $ 155,016 $ 514,648 $ 468,778 Preferred stock dividends (7,968 ) (7,964 ) (23,901 ) (23,891 ) Net income available to common shareholders $ 144,620 $ 147,052 $ 490,747 $ 444,887 Average common shares issued and outstanding 800,883 816,497 805,851 820,884 Basic earnings per common share $ 0.18 $ 0.18 $ 0.61 $ 0.54 Diluted earnings per common share: Net income available to common shareholders $ 144,620 $ 147,052 $ 490,747 $ 444,887 Effect of assumed preferred stock conversion — — — — Net income applicable to diluted earnings per share $ 144,620 $ 147,052 $ 490,747 $ 444,887 Average common shares issued and outstanding 800,883 816,497 805,851 820,884 Dilutive potential common shares: Stock options and restricted stock units and awards 11,285 11,367 11,554 11,397 Shares held in deferred compensation plans 1,997 1,506 1,872 1,443 Other 161 253 181 203 Dilutive potential common shares: 13,443 13,126 13,607 13,043 Total diluted average common shares issued and outstanding 814,326 829,623 819,458 833,927 Diluted earnings per common share $ 0.18 $ 0.18 $ 0.60 $ 0.53 |
BENEFIT PLANS (Tables)
BENEFIT PLANS (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Net Benefit Costs | The following table shows the components of net periodic benefit expense of the Plan and the Post-Retirement Benefit Plan: Pension Benefits Post Retirement Benefits Three Months Ended September 30, Three Months Ended September 30, (dollar amounts in thousands) 2015 2014 2015 2014 Service cost (1) $ 457 $ 435 $ — $ — Interest cost 7,984 8,099 142 258 Expected return on plan assets (11,044 ) (11,446 ) — — Amortization of prior service cost — — (492 ) (338 ) Amortization of gain (loss) 1,984 1,442 (116 ) (144 ) Settlements 2,825 2,500 (2) (3,090 ) — Benefit expense $ 2,206 $ 1,030 $ (3,556 ) $ (224 ) (1) Since no participants will be earning benefits after December 31, 2013, the 2014 and 2015 service cost represents only administrative expenses. (2) During the 2015 third quarter, Huntington transferred the retiree life insurance obligation in a non-participating contract to an insurance carrier. Pension Benefits Post Retirement Benefits Nine Months Ended September 30, Nine Months Ended September 30, (dollar amounts in thousands) 2015 2014 2015 2014 Service cost (1) $ 1,372 $ 1,305 $ — $ — Interest cost 23,953 24,299 425 776 Expected return on plan assets (33,131 ) (34,338 ) — — Amortization of prior service cost — — (1,476 ) (1,016 ) Amortization of gain (loss) 5,950 4,326 (348 ) (432 ) Settlements 8,475 7,500 (2) (3,090 ) — Benefit expense $ 6,619 $ 3,092 $ (4,489 ) $ (672 ) (1) Since no participants will be earning benefits after December 31, 2013, the 2014 and 2015 service cost represents only administrative expenses. |
Schedule of Allocation of Plan Assets | Bank, as trustee, held all Plan assets at September 30, 2015 and December 31, 2014 . The Plan assets consisted of the following investments: Fair Value (dollar amounts in thousands) September 30, 2015 December 31, 2014 Cash equivalents: Huntington funds—money market $ 8,937 1 % $ 16,136 2 % Fixed income: Corporate obligations 205,806 34 218,077 33 U.S. government obligations 61,987 11 62,627 10 Mutual funds—fixed income 34,123 6 34,761 5 U.S. government agencies 7,203 1 7,445 1 Equities: Mutual funds—equities 134,939 23 147,191 23 Other common stock 114,594 19 118,970 18 Huntington funds 20,243 3 37,920 6 Exchange traded funds 6,306 1 6,840 1 Limited partnerships 5,431 1 3,046 1 Fair value of plan assets $ 599,569 100 % $ 653,013 100 % Inv |
Schedule of Costs of Retirement Plans | following table shows the costs of providing the SERP, SRIP, and defined contribution plans: Three Months Ended September 30, Nine Months Ended September 30, (dollar amounts in thousands) 2015 2014 2015 2014 SERP & SRIP $ 578 $ 504 $ 1,735 $ 1,467 Defined contribution plan 8,224 8,325 23,747 23,239 Benefit cost $ 8,802 $ 8,829 $ 25,482 $ 24,706 |
FAIR VALUES OF ASSETS AND LIA37
FAIR VALUES OF ASSETS AND LIABILITIES (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Assets and liabilities measured at fair value on a recurring basis | Assets and Liabilities measured at fair value on a recurring basis Assets and liabilities measured at fair value on a recurring basis at September 30, 2015 and December 31, 2014 are summarized below: Fair Value Measurements at Reporting Date Using Netting Adjustments (1) September 30, 2015 (dollar amounts in thousands) Level 1 Level 2 Level 3 Assets Loans held for sale $ — $ 393,473 $ — $ — $ 393,473 Loans held for investment — 34,019 — — 34,019 Trading account securities: Federal agencies: Other agencies — — — — — Municipal securities — 5,932 — — 5,932 Other securities 32,500 177 — — 32,677 32,500 6,109 — — 38,609 Available-for-sale and other securities: U.S. Treasury securities 14,095 — — — 14,095 Federal agencies: Mortgage-backed — 6,764,213 — — 6,764,213 Federal agencies: Other agencies — 376,538 — — 376,538 Municipal securities — 377,535 1,950,556 — 2,328,091 Private-label CMO — — — — — Asset-backed securities — 712,837 101,172 — 814,009 Corporate debt — 449,089 — — 449,089 Other securities 12,501 3,914 — — 16,415 26,596 8,684,126 2,051,728 — 10,762,450 Automobile loans — — 2,563 — 2,563 MSRs — — 18,065 — 18,065 Derivative assets — 520,802 8,339 (77,557 ) 451,584 Liabilities Derivative liabilities — 316,452 555 (27,330 ) 289,677 Short-term borrowings — 511 — — 511 Fair Value Measurements at Reporting Date Using Netting Adjustments (1) December 31, 2014 (dollar amounts in thousands) Level 1 Level 2 Level 3 Assets Loans held for sale $ — $ 354,888 $ — $ — $ 354,888 Loans held for investment — 40,027 — — 40,027 Trading account securities: Federal agencies: Other agencies — 2,857 — — 2,857 Municipal securities — 5,098 — — 5,098 Other securities 33,121 1,115 — — 34,236 33,121 9,070 — — 42,191 Available-for-sale and other securities: U.S. Treasury securities 5,452 — — — 5,452 Federal agencies: Mortgage-backed — 5,322,701 — — 5,322,701 Federal agencies: Other agencies — 351,543 — — 351,543 Municipal securities — 450,976 1,417,593 — 1,868,569 Private-label CMO — 11,462 30,464 — 41,926 Asset-backed securities — 873,260 82,738 — 955,998 Corporate debt — 486,176 — — 486,176 Other securities 17,430 3,316 — — 20,746 22,882 7,499,434 1,530,795 — 9,053,111 Automobile loans — — 10,590 — 10,590 MSRs — — 22,786 — 22,786 Derivative assets — 449,775 4,064 (101,197 ) 352,642 Liabilities Derivative liabilities — 335,524 704 (51,973 ) 284,255 Short-term borrowings — 2,295 — — 2,295 |
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Opening balance $ 20,681 $ 5,166 $ 1,716,845 $ 29,429 $ 102,071 $ 3,998 Transfers into Level 3 — — — — — — Transfers out of Level 3 — — — — — — Total gains/losses for the period: Included in earnings (2,616 ) 3,023 — 20 (2,440 ) (142 ) Included in OCI — — 3,514 1,309 1,997 — Purchases/originations — — 426,501 — — — Sales — — — (30,077 ) — — Repayments — — — — — (1,293 ) Issues — — — — — — Settlements — (405 ) (196,304 ) (681 ) (456 ) — Closing balance $ 18,065 $ 7,784 $ 1,950,556 $ — $ 101,172 $ 2,563 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (2,616 ) $ 3,023 $ 3,514 $ — $ 1,997 $ (142 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Opening balance $ 26,747 $ 6,196 $ 1,206,455 $ 31,633 $ 106,461 $ 25,498 Transfers into Level 3 — — — — — — Transfers out of Level 3 — — — — — — Total gains/losses for the period: Included in earnings (1,309 ) (1,847 ) — 8 171 (253 ) Included in OCI — — 14,344 (137 ) 5,826 — Purchases/originations — — 224,615 — — — Sales — — — — (22,870 ) — Repayments — — — — — (8,545 ) Issues — — — — — — Settlements — (813 ) (190,619 ) (570 ) (1,004 ) — Closing balance $ 25,438 $ 3,536 $ 1,254,795 $ 30,934 $ 88,584 $ 16,700 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (1,309 ) $ (1,847 ) $ 14,344 $ (137 ) $ 5,468 $ (253 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Opening balance $ 22,786 $ 3,360 $ 1,417,593 $ 30,464 $ 82,738 $ 10,590 Transfers into Level 3 — — — — — — Transfers out of Level 3 — — — — — — Total gains/losses for the period: Included in earnings (4,721 ) 6,244 — 47 (2,435 ) (497 ) Included in OCI — — 2,199 1,832 23,860 — Purchases/originations — — 768,529 — — — Sales — — — (30,077 ) — — Repayments — — — — — (7,530 ) Issues — — — — — — Settlements — (1,820 ) (237,765 ) (2,266 ) (2,991 ) — Closing balance $ 18,065 $ 7,784 $ 1,950,556 $ — $ 101,172 $ 2,563 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (4,721 ) $ 6,244 $ 2,199 $ — $ 23,860 $ (497 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Opening balance $ 34,236 $ 2,390 $ 654,537 $ 32,140 $ 107,419 $ 52,286 Transfers into Level 3 — — — — — — Transfers out of Level 3 — — — — — — Total gains/losses for the period: Included in earnings (8,798 ) 2,785 — 24 38 (705 ) Included in OCI — — 7,555 364 20,256 — Purchases/originations — — 805,893 — — — Sales — — — — (22,700 ) — Repayments — — — — — (34,881 ) Issues — — — — — — Settlements — (1,639 ) (213,190 ) (1,594 ) (16,429 ) — Closing balance $ 25,438 $ 3,536 $ 1,254,795 $ 30,934 $ 88,584 $ 16,700 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (8,798 ) $ 2,785 $ 7,555 $ 364 $ 19,554 $ (705 ) |
Classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities | The table below summarizes the classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities for the three-month and nine -month periods ended September 30, 2015 and 2014 : Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Classification of gains and losses in earnings: Mortgage banking income $ (2,616 ) $ 3,023 $ — $ — $ — $ — Securities gains (losses) — — — — (2,440 ) — Interest and fee income — — — 20 — (142 ) Noninterest income — — — — — — Total $ (2,616 ) $ 3,023 $ — $ 20 $ (2,440 ) $ (142 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Classification of gains and losses in earnings: Mortgage banking income $ (1,309 ) $ (1,847 ) $ — $ — $ — $ — Securities gains (losses) — — — — 170 — Interest and fee income — — — 8 1 (243 ) Noninterest income — — — — — (10 ) Total $ (1,309 ) $ (1,847 ) $ — $ 8 $ 171 $ (253 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Classification of gains and losses in earnings: Mortgage banking income $ (4,721 ) $ 6,244 $ — $ — $ — $ — Securities gains (losses) — — — — (2,440 ) — Interest and fee income — — — 47 5 (497 ) Noninterest income — — — — — — Total $ (4,721 ) $ 6,244 $ — $ 47 $ (2,435 ) $ (497 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in thousands) MSRs Derivative instruments Municipal securities Private- label CMO Asset- backed securities Automobile loans Classification of gains and losses in earnings: Mortgage banking income $ (8,798 ) $ 2,785 $ — $ — $ — $ — Securities gains (losses) — — — — 170 — Interest and fee income — — — 24 38 (819 ) Noninterest income — — — — — 114 Total $ (8,798 ) $ 2,785 $ — $ 24 $ 208 $ (705 ) |
Assets and liabilities under the fair value option | The following table presents the fair value and aggregate principal balance of certain assets and liabilities under the fair value option: September 30, 2015 December 31, 2014 (dollar amounts in thousands) Fair value carrying amount Aggregate unpaid principal Difference Fair value carrying amount Aggregate unpaid principal Difference Assets Loans held for sale $ 393,473 $ 377,707 $ 15,766 $ 354,888 $ 340,070 $ 14,818 Loans held for investment 34,019 34,774 (755 ) 40,027 40,938 (911 ) Automobile loans 2,563 2,563 — 10,590 10,022 568 The following tables present the net gains (losses) from fair value changes, including net gains (losses) associated with instrument specific credit risk for the three-month and nine -month periods ended September 30, 2015 and 2014 : Net gains (losses) from fair value changes Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Assets Loans held for sale $ 6,801 $ 4,562 $ 1,244 $ 3,700 Automobile loans (142 ) (253 ) (568 ) (706 ) Gains (losses) included in fair value changes associated with instrument specific credit risk Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Assets Automobile loans $ 37 $ 323 $ 108 $ 861 |
Assets measured at fair value on a nonrecurring basis | Assets measured at fair value on a nonrecurring basis were as follows: Fair Value Measurements Using (dollar amounts in thousands) Fair Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Total Total MSRs $ 133,812 $ — $ — $ 133,812 $ (12,472 ) $ (7,492 ) Impaired loans 52,837 — — 52,837 (2,614 ) (6,964 ) Other real estate owned 24,910 — — 24,910 356 3,619 |
Quantitative information about significant unobservable level 3 fair value measurement inputs | Quantitative Information about Level 3 Fair Value Measurements at September 30, 2015 (dollar amounts in thousands) Fair Value at Valuation Technique Significant Unobservable Input Range (Weighted Average) MSRs $ 18,065 Discounted cash flow Constant prepayment rate 6.0% - 24.0% (14.3%) Spread over forward interest rate 325 - 1,166 (599) Derivative assets 8,339 Consensus Pricing Net market price -3.6% - 19.4% (2.1%) Derivative liabilities 555 Estimated Pull through % 50.0% - 90.0% (76.0%) Municipal securities 1,950,556 Discounted cash flow Discount rate 0.3% - 4.7% (2.6%) Asset-backed securities 101,172 Discounted cash flow Discount rate 4.3% - 11.3% (5.8%) Cumulative prepayment rate 0.0% - 100.0% (8.3%) Cumulative default 1.7% - 100.0% (11.5%) Loss given default 85% - 100% (96.4%) Cure given deferral 0.0% - 75.0% (36.6%) Automobile loans 2,563 Discounted cash flow Constant prepayment rate 154.2 % Discount rate 0.2% - 5.0% (2.3%) Life of pool cumulative losses 2.1 % Impaired loans 52,837 Appraisal value NA NA Other real estate owned 24,910 Appraisal value NA NA Quantitative Information about Level 3 Fair Value Measurements at December 31, 2014 (dollar amounts in thousands) Fair Value Valuation Technique Significant Unobservable Input Range (Weighted Average) MSRs $ 22,786 Discounted cash flow Constant prepayment rate 7% - 26% (16%) Spread over forward interest rate 228 - 900 (546) Derivative assets 4,064 Consensus Pricing Net market price -5.09% - 17.46% (1.7%) Derivative liabilities 704 Estimated Pull through % 38% - 91% (75%) Municipal securities 1,417,593 Discounted cash flow Discount rate 0.5% - 4.9% (2.5%) Private-label CMO 30,464 Discounted cash flow Discount rate 2.7% - 7.2% (6.0%) Constant prepayment rate 13.6% - 32.6% (20.7%) Probability of default 0.1% - 4.0% (0.7%) Loss severity 0.0% - 64.0% (33.9%) Asset-backed securities 82,738 Discounted cash flow Discount rate 4.3% - 13.3% (7.3%) Cumulative prepayment rate 0.0% - 100% (10.1%) Cumulative default 1.9% - 100% (15.9%) Loss given default 20% - 100% (94.4%) Cure given deferral 0.0% - 75% (32.6%) Automobile loans 10,590 Discounted cash flow Constant prepayment rate 154.2 % Discount rate 0.2% - 5.0% (2.3%) Life of pool cumulative losses 2.1 % Impaired loans 52,911 Appraisal value NA NA Other real estate owned 35,039 Appraisal value NA NA |
Carrying amounts and estimated fair values of financial instruments | The following table provides the carrying amounts and estimated fair values of Huntington’s financial instruments that are carried either at fair value or cost at September 30, 2015 and December 31, 2014 : September 30, 2015 December 31, 2014 (dollar amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Financial Assets Cash and short-term assets $ 1,090,163 $ 1,090,163 $ 1,285,124 $ 1,285,124 Trading account securities 38,609 38,609 42,191 42,191 Loans held for sale 675,636 675,636 416,327 416,327 Available-for-sale and other securities 11,094,868 11,094,868 9,384,670 9,384,670 Held-to-maturity securities 3,157,688 3,191,907 3,379,905 3,382,715 Net loans and leases 49,063,971 47,374,526 47,050,530 45,110,406 Derivatives 451,584 451,584 352,642 352,642 Financial Liabilities Deposits 54,244,711 54,831,170 51,732,151 52,454,804 Short-term borrowings 1,453,812 1,453,812 2,397,101 2,397,101 Long-term debt 6,359,445 6,265,129 4,335,962 4,286,304 Derivatives 289,677 289,677 284,255 284,255 The following table presents the level in the fair value hierarchy for the estimated fair values of only Huntington’s financial instruments that are not already on the Unaudited Condensed Consolidated Balance Sheets at fair value at September 30, 2015 and December 31, 2014 : Estimated Fair Value Measurements at Reporting Date Using September 30, 2015 (dollar amounts in thousands) Level 1 Level 2 Level 3 Financial Assets Held-to-maturity securities $ — $ 3,191,907 $ — $ 3,191,907 Net loans and leases — — 47,374,526 47,374,526 Financial Liabilities Deposits — 51,244,015 3,587,155 54,831,170 Short-term borrowings — — 1,453,812 1,453,812 Other long-term debt — — 6,265,129 6,265,129 Estimated Fair Value Measurements at Reporting Date Using December 31, 2014 (dollar amounts in thousands) Level 1 Level 2 Level 3 Financial Assets Held-to-maturity securities $ — $ 3,382,715 $ — $ 3,382,715 Net loans and leases — — 45,110,406 45,110,406 Financial Liabilities Deposits — 48,183,798 4,271,006 52,454,804 Short-term borrowings — — 2,397,101 2,397,101 Other long-term debt — — 4,286,304 4,286,304 |
DERIVATIVE FINANCIAL INSTRUME38
DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Gross notional values of derivatives used in asset and liability management activities | The following table presents the gross notional values of derivatives used in Huntington’s asset and liability management activities at September 30, 2015 , identified by the underlying interest rate-sensitive instruments: (dollar amounts in thousands ) Fair Value Hedges Cash Flow Hedges Total Instruments associated with: Loans $ — $ 9,048,000 $ 9,048,000 Deposits 69,100 — 69,100 Subordinated notes 475,000 — 475,000 Long-term debt 4,535,000 — 4,535,000 Total notional value at September 30, 2015 $ 5,079,100 $ 9,048,000 $ 14,127,100 |
Additional information about the interest rate swaps used in asset and liability management activities | The following table presents additional information about the interest rate swaps used in Huntington’s asset and liability management activities at September 30, 2015 : Weighted-Average Rate (dollar amounts in thousands ) Notional Value Average Maturity (years) Fair Value Receive Pay Asset conversion swaps Receive fixed—generic $ 9,048,000 1.2 $ 23,912 0.81 % 0.28 % Total asset conversion swaps 9,048,000 1.2 23,912 0.81 0.28 Liability conversion swaps Receive fixed—generic 5,079,100 2.9 107,185 1.61 0.32 Total liability conversion swaps 5,079,100 2.9 107,185 1.61 0.32 Total swap portfolio at September 30, 2015 $ 14,127,100 1.8 $ 131,097 1.10 % 0.30 % |
Asset and liability derivatives included in accrued income and other assets | The following table presents the fair values at September 30, 2015 and December 31, 2014 of Huntington’s derivatives that are designated and not designated as hedging instruments. Amounts in the table below are presented gross without the impact of any net collateral arrangements: Asset derivatives included in accrued income and other assets: (dollar amounts in thousands) September 30, 2015 December 31, 2014 Interest rate contracts designated as hedging instruments $ 131,097 $ 53,114 Interest rate contracts not designated as hedging instruments 240,229 183,610 Foreign exchange contracts not designated as hedging instruments 41,033 32,798 Commodities contracts not designated as hedging instruments 108,409 180,218 Total contracts $ 520,768 $ 449,740 Liability derivatives included in accrued expenses and other liabilities: (dollar amounts in thousands) September 30, 2015 December 31, 2014 Interest rate contracts designated as hedging instruments $ — $ 12,648 Interest rate contracts not designated as hedging instruments 167,854 110,627 Foreign exchange contracts not designated as hedging instruments 37,919 29,754 Commodities contracts not designated as hedging instruments 105,634 179,180 Total contracts $ 311,407 $ 332,209 |
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | The following table presents the change in fair value for derivatives designated as fair value hedges as well as the offsetting change in fair value on the hedged item for the three-month and nine -month periods ended September 30, 2015 , and 2014 : Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Interest rate contracts Change in fair value of interest rate swaps hedging deposits (1) $ (265 ) $ (323 ) $ (723 ) $ (829 ) Change in fair value of hedged deposits (1) 259 315 709 809 Change in fair value of interest rate swaps hedging subordinated notes (2) 5,328 (6,601 ) 1,196 (2,520 ) Change in fair value of hedged subordinated notes (2) (5,328 ) 6,601 (1,196 ) 2,520 Change in fair value of interest rate swaps hedging other long-term debt (2) 37,272 (13,196 ) 49,168 (6,943 ) Change in fair value of hedged other long-term debt (2) (36,283 ) 12,924 (48,546 ) 9,450 (1) Effective portion of the hedging relationship is recognized in Interest expense—deposits in the Unaudited Condensed Consolidated Statements of Income. Any resulting ineffective portion of the hedging relationship is recognized in noninterest income in the Unaudited Condensed Consolidated Statements of Income. (2) Effective portion of the hedging relationship is recognized in Interest expense—subordinated notes and other long-term debt in the Unaudited Condensed Consolidated Statements of Income. Any resulting ineffective portion of the hedging relationship is recognized in noninterest income in the Unaudited Condensed Consolidated Statements of Income. |
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | The following table presents the gains and (losses) recognized in OCI and the location in the Unaudited Condensed Consolidated Statements of Income of gains and (losses) reclassified from OCI into earnings for the three-month and nine -month periods ended September 30, 2015 , and 2014 for derivatives designated as effective cash flow hedges: Derivatives in cash flow hedging relationships Amount of gain or (loss) recognized in OCI on derivatives (effective portion) (after-tax) Location of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) Amount of (gain) or loss reclassified from accumulated OCI into earnings (effective portion) Three months ended September 30, Three months ended September 30, (dollar amounts in thousands) 2015 2014 2015 2014 Interest rate contracts Loans $ 8,301 $ (21,133 ) Interest and fee income - loans and leases $ (73 ) $ (148 ) Investment Securities — — Noninterest income - other income — — Total $ 8,301 $ (21,133 ) $ (73 ) $ (148 ) Derivatives in cash flow hedging relationships Amount of gain or (loss) recognized in OCI on derivatives (effective portion) (after-tax) Location of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) Amount of (gain) or loss reclassified from accumulated OCI into earnings (effective portion) Nine months ended September 30, Nine months ended September 30, (dollar amounts in thousands) 2015 2014 2015 2014 Interest rate contracts Loans $ 26,057 $ (1,596 ) Interest and fee income - loans and leases $ (323 ) $ (3,853 ) Investment Securities — — Interest and fee income - investment securities (11 ) — Total $ 26,057 $ (1,596 ) $ (334 ) $ (3,853 ) |
Gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as fair value and cash flow hedges | The following table details the gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as cash flow hedges for the three-month and nine -month periods ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Derivatives in cash flow hedging relationships Interest rate contracts Loans $ 888 $ 224 $ 858 $ 195 |
Derivative assets and liabilities used in mortgage banking activities [Table Text Block] | The following table summarizes the derivative assets and liabilities used in mortgage banking activities: (dollar amounts in thousands) September 30, 2015 December 31, 2014 Derivative assets: Interest rate lock agreements $ 8,339 $ 4,064 Forward trades and options 34 35 Total derivative assets 8,373 4,099 Derivative liabilities: Interest rate lock agreements (110 ) (259 ) Forward trades and options (5,490 ) (3,760 ) Total derivative liabilities (5,600 ) (4,019 ) Net derivative asset (liability) $ 2,773 $ 80 |
Offsetting of financial liabilities and derivative liabilities | Offsetting of Financial Liabilities and Derivative Liabilities Gross amounts not offset in the condensed consolidated balance sheets (dollar amounts in thousands) Gross amounts of recognized liabilities Gross amounts offset in the condensed consolidated balance sheets Net amounts of liabilities presented in the condensed consolidated balance sheets Financial instruments Cash collateral delivered Net amount Offsetting of Financial Liabilities and Derivative Liabilities September 30, 2015 Derivatives $ 318,653 $ (28,976 ) $ 289,677 $ (71,556 ) $ (377 ) $ 217,744 December 31, 2014 Derivatives 363,192 (78,937 ) 284,255 (78,654 ) (111 ) 205,490 |
Offsetting of financial assets and derivatives assets | The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Unaudited Condensed Consolidated Balance Sheets at September 30, 2015 and December 31, 2014 : Offsetting of Financial Assets and Derivative Assets Gross amounts not offset in the condensed consolidated balance sheets (dollar amounts in thousands) Gross amounts of recognized assets Gross amounts offset in the condensed consolidated balance sheets Net amounts of assets presented in the condensed consolidated balance sheets Financial instruments Cash collateral received Net amount Offsetting of Financial Assets and Derivative Assets September 30, 2015 Derivatives $ 530,788 $ (79,204 ) $ 451,584 $ (42,289 ) $ (3,983 ) $ 405,312 December 31, 2014 Derivatives 480,803 (128,161 ) 352,642 (27,744 ) (1,095 ) 323,803 |
VIEs (Tables)
VIEs (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Variable Interest Entities [Abstract] | |
Carrying amount and classification of the trusts assets and liabilities | The following tables provide a summary of the assets and liabilities included in Huntington’s Unaudited Condensed Consolidated Financial Statements, as well as the maximum exposure to losses, associated with its interests related to unconsolidated VIEs for which Huntington holds an interest, but is not the primary beneficiary, to the VIE at September 30, 2015 , and December 31, 2014 : September 30, 2015 (dollar amounts in thousands) Total Assets Total Liabilities Maximum Exposure to Loss 2015-1 Automobile Trust $ 9,378 $ — $ 9,378 2012-1 Automobile Trust 445 — 445 2012-2 Automobile Trust 1,231 — 1,231 2011 Automobile Trust — — — Tower Hill Securities, Inc. 46,591 65,000 46,591 Trust Preferred Securities 13,919 317,098 — Low Income Housing Tax Credit Partnerships 407,191 181,788 407,191 Other Investments 88,745 27,289 88,745 Total $ 567,500 $ 591,175 $ 553,581 December 31, 2014 (dollar amounts in thousands) Total Assets Total Liabilities Maximum Exposure to Loss 2012-1 Automobile Trust $ 2,136 $ — $ 2,136 2012-2 Automobile Trust 3,220 — 3,220 2011 Automobile Trust 944 — 944 Tower Hill Securities, Inc. 55,611 65,000 55,611 Trust Preferred Securities 13,919 317,075 — Low Income Housing Tax Credit Partnerships 368,283 154,861 368,283 Other Investments 83,400 20,760 83,400 Total $ 527,513 $ 557,696 $ 513,594 The following tables present the carrying amount and classification of the consolidated trusts’ assets and liabilities that were included in the Unaudited Condensed Consolidated Balance Sheets at September 30, 2015 and December 31, 2014 : September 30, 2015 Huntington Technology Other Consolidated Trusts Total (dollar amounts in thousands) Series 2012A Series 2014A Assets: Cash $ — $ — $ — $ — Loans and leases 40,968 180,165 — 221,133 Allowance for loan and lease losses — — — — Net loans and leases 40,968 180,165 — 221,133 Accrued income and other assets — — 229 229 Total assets $ 40,968 $ 180,165 $ 229 $ 221,362 Liabilities: Other long-term debt $ 34,192 $ 149,387 $ — $ 183,579 Accrued interest and other liabilities — — 229 229 Total liabilities 34,192 149,387 229 183,808 Equity: Beneficial Interest owned by third party 6,776 30,778 — 37,554 Total liabilities and equity $ 40,968 $ 180,165 $ 229 $ 221,362 December 31, 2014 (dollar amounts in thousands) Other Total Assets: Cash $ — $ — Loans and leases — — Allowance for loan and lease losses — — Net loans and leases — — Accrued income and other assets 243 243 Total assets $ 243 $ 243 Liabilities: Other long-term debt $ — $ — Accrued interest and other liabilities 243 243 Total liabilities 243 243 Equity: Beneficial Interest owned by third party — — Total liabilities and equity $ 243 $ 243 |
Summary of Outstanding Trust Preferred Securities | A list of trust preferred securities outstanding at September 30, 2015 follows: (dollar amounts in thousands) Rate Principal amount of subordinated note/ debenture issued to trust (1) Investment in unconsolidated subsidiary Huntington Capital I 1.00 % (2) $ 111,816 $ 6,186 Huntington Capital II 0.96 (3) 54,593 3,093 Sky Financial Capital Trust III 1.73 (4) 72,165 2,165 Sky Financial Capital Trust IV 1.68 (4) 74,320 2,320 Camco Financial Trust 2.77 (5) 4,204 155 Total $ 317,098 $ 13,919 (1) Represents the principal amount of debentures issued to each trust, including unamortized original issue discount. (2) Variable effective rate at September 30, 2015 , based on three month LIBOR + 0.70% . (3) Variable effective rate at September 30, 2015 , based on three month LIBOR + 0.625% . (4) Variable effective rate at September 30, 2015 , based on three month LIBOR + 1.40% . (5) Variable effective rate (including impact of purchase accounting accretion) at September 30, 2015 , based on three month LIBOR + 1.33% . |
Affordable housing tax credit investments | (dollar amounts in thousands) September 30, December 31, Affordable housing tax credit investments $ 646,215 $ 576,381 Less: amortization (239,024 ) (208,098 ) Net affordable housing tax credit investments $ 407,191 $ 368,283 Unfunded commitments $ 181,788 $ 154,861 Three Months Ended Nine Months Ended (dollar amounts in thousands) 2015 2014 2015 2014 Tax credits and other tax benefits recognized $ 16,412 $ 13,370 $ 46,592 $ 41,430 Proportional amortization method Tax credit amortization expense included in provision for income taxes 10,942 9,659 33,235 28,537 Equity method Tax credit investment (gains) losses included in non-interest income (86 ) 290 208 737 |
COMMITMENTS AND CONTINGENT LI40
COMMITMENTS AND CONTINGENT LIABILITIES (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contract amounts of various commitments to extend credit | In the ordinary course of business, Huntington makes various commitments to extend credit that are not reflected in the Unaudited Condensed Consolidated Financial Statements. The contractual amounts of these financial agreements at September 30, 2015 and December 31, 2014 , were as follows: (dollar amounts in thousands) September 30, December 31, Contract amount represents credit risk: Commitments to extend credit Commercial $ 11,132,340 $ 11,181,522 Consumer 8,322,665 7,579,632 Commercial real estate 895,028 908,112 Standby letters-of-credit 490,776 497,457 Commercial letters-of-credit 33,079 36,460 |
SEGMENT REPORTING (Tables)
SEGMENT REPORTING (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Segment Disclosure of Assets and Deposits | Listed below is certain operating basis financial information reconciled to Huntington’s September 30, 2015 , December 31, 2014 , and September 30, 2014 , reported results by business segment: Three Months Ended September 30, Income Statements Retail & Business Banking Commercial Banking AFCRE RBHPCG Home Lending Treasury/Other Huntington Consolidated (dollar amounts in thousands) 2015 Net interest income $ 260,617 $ 97,307 $ 95,838 $ 30,268 $ 16,915 $ (5,490 ) $ 495,455 Provision (reduction in allowance) for credit losses (3,889 ) 9,359 12,618 3,550 838 — 22,476 Noninterest income 114,856 65,803 5,774 35,811 11,640 19,235 253,119 Noninterest expense 254,488 75,447 38,769 68,054 40,986 48,764 526,508 Income taxes 43,706 27,406 17,579 (1,934 ) (4,644 ) (35,111 ) 47,002 Net income (loss) $ 81,168 $ 50,898 $ 32,646 $ (3,591 ) $ (8,625 ) $ 92 $ 152,588 2014 Net interest income $ 230,318 $ 78,393 $ 96,355 $ 25,239 $ 14,620 $ 21,410 $ 466,335 Provision (reduction in allowance) for credit losses 22,528 13,635 (18,660 ) 3,179 3,797 1 24,480 Noninterest income 105,868 56,486 6,165 42,097 20,838 15,895 247,349 Noninterest expense 251,507 62,296 39,714 60,548 33,523 32,730 480,318 Income taxes 21,753 20,632 28,513 1,263 (652 ) (17,639 ) 53,870 Net income (loss) $ 40,398 $ 38,316 $ 52,953 $ 2,346 $ (1,210 ) $ 22,213 $ 155,016 Nine Months Ended September 30, Income Statements Retail & Business Banking Commercial Banking AFCRE RBHPCG Home Lending Treasury/Other Huntington Consolidated (dollar amounts in thousands) 2015 Net interest income $ 766,188 $ 266,638 $ 286,042 $ 84,843 $ 48,545 $ 1,570 $ 1,453,826 Provision for credit losses 22,664 13,167 14,733 7,791 5,131 — 63,486 Noninterest income 323,552 191,039 22,024 114,198 62,274 53,428 766,515 Noninterest expense 771,339 208,236 112,802 189,901 118,414 76,450 1,477,142 Income taxes 103,508 82,696 63,186 472 (4,454 ) (80,343 ) 165,065 Net income (loss) $ 192,229 $ 153,578 $ 117,345 $ 877 $ (8,272 ) $ 58,891 $ 514,648 2014 Net interest income $ 678,502 $ 226,316 $ 282,239 $ 76,399 $ 41,997 $ 58,436 $ 1,363,889 Provision for credit losses 63,962 33,681 (44,809 ) 5,353 20,308 — 78,495 Noninterest income 306,364 157,107 19,706 132,080 59,946 70,698 745,901 Noninterest expense 732,623 188,170 116,568 176,595 101,490 83,629 1,399,075 Income taxes 65,898 56,550 80,565 9,286 (6,949 ) (41,908 ) 163,442 Net income (loss) $ 122,383 $ 105,022 $ 149,621 $ 17,245 $ (12,906 ) $ 87,413 $ 468,778 Assets at Deposits at (dollar amounts in thousands) September 30, December 31, September 30, December 31, Retail & Business Banking $ 15,781,016 $ 15,146,857 $ 29,979,237 $ 29,350,255 Commercial Banking 16,753,525 15,043,477 11,825,996 11,184,566 AFCRE 17,329,574 16,027,910 1,521,992 1,377,921 RBHPCG 3,447,385 3,871,020 7,377,486 6,727,892 Home Lending 4,061,686 3,949,247 305,068 326,841 Treasury / Other 12,836,992 12,259,499 3,234,932 2,764,676 Total $ 70,210,178 $ 66,298,010 $ 54,244,711 $ 51,732,151 |
LOANS _ LEASES AND ALLOWANCE 42
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||||||
Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 02, 2014 | Dec. 31, 2013 | Mar. 30, 2012 | ||
Loan and Lease Portfolio | ||||||||||||
Commercial and industrial | $ 20,039,429 | $ 20,039,429 | $ 19,033,146 | |||||||||
Commercial real estate | 5,404,274 | 5,404,274 | 5,197,403 | |||||||||
Automobile | 9,160,241 | 9,160,241 | 8,689,902 | |||||||||
Home equity | 8,460,989 | 8,460,989 | 8,490,915 | |||||||||
Residential mortgage | 6,071,356 | 6,071,356 | 5,830,609 | |||||||||
Other consumer | 519,620 | 519,620 | 413,751 | |||||||||
Loans and leases | [1] | 49,655,909 | 49,655,909 | 47,655,726 | ||||||||
Allowance for loan and lease losses | (591,938) | $ (631,036) | (591,938) | $ (631,036) | $ (599,542) | (605,196) | $ (635,101) | $ (647,870) | ||||
Net loans and leases | 49,063,971 | 49,063,971 | 47,050,530 | |||||||||
Loan Purchases and Sales | ||||||||||||
Portfolio loans purchased | 237,424 | 66,892 | 650,994 | 286,819 | ||||||||
Portfolio loans sold or transferred to loans held for sale | 194,903 | 179,065 | 1,407,000 | 298,822 | ||||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 356,477 | 356,477 | 300,244 | |||||||||
Camco Financial | ||||||||||||
Business Combinations [Abstract] | ||||||||||||
Leases acquired at fair value as of acquisition date | $ 559,400 | |||||||||||
Contractually required payments, expected cash flows to be collected, and fair value of loans at acquisition | ||||||||||||
Accretable yield | 0 | 0 | 0 | 143 | ||||||||
Rollforward of accretable yield | ||||||||||||
Accretable yield balance, beginning of period | 681 | $ 824 | 154 | 824 | 0 | |||||||
Impact of acquisition | 0 | 0 | 0 | $ 143 | ||||||||
Accretion | (106) | (153) | (1,357) | (5,335) | ||||||||
Reclassification from nonaccretable difference | (393) | 816 | 715 | 6,009 | ||||||||
Accretable yield balance, end of period | 182 | 817 | 182 | 817 | ||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||||
Ending balance | 1,156 | 1,156 | 2,531 | |||||||||
Unpaid balance | 1,499 | 1,499 | 5,511 | |||||||||
Fidelity Bank | ||||||||||||
Business Combinations [Abstract] | ||||||||||||
Leases acquired at fair value as of acquisition date | $ 523,900 | |||||||||||
Rollforward of accretable yield | ||||||||||||
Accretable yield balance, beginning of period | 19,312 | 19,388 | 24,596 | 19,388 | 27,995 | |||||||
Accretion | (2,818) | (3,070) | (8,682) | (10,722) | ||||||||
Reclassification from nonaccretable difference | 1,089 | (6) | 6,877 | 4,247 | ||||||||
Accretable yield balance, end of period | 17,583 | 21,520 | 17,583 | 21,520 | ||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||||
Ending balance | 45,666 | 45,666 | 61,031 | |||||||||
Unpaid balance | 98,624 | 98,624 | 124,091 | |||||||||
Macquarie Equipment Finance | ||||||||||||
Business Combinations [Abstract] | ||||||||||||
Leases acquired at fair value as of acquisition date | 838,600 | 838,600 | ||||||||||
Leases acquired lease residual value as of acquisition date | 200,000 | 200,000 | ||||||||||
Commercial and industrial owner occupied | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Commercial and industrial | 4,076,700 | 4,076,700 | 4,254,875 | |||||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 42,231 | 42,231 | 41,285 | |||||||||
Commercial and industrial purchased impaired | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Commercial and industrial | 19,484 | 19,484 | 23,228 | |||||||||
Other commercial and industrial | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Commercial and industrial | 15,943,245 | 15,943,245 | 14,755,043 | |||||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 115,671 | 115,671 | 30,689 | |||||||||
Commercial and Industrial | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Loans and leases | 20,039,429 | 20,039,429 | 19,033,146 | |||||||||
Allowance for loan and lease losses | (284,329) | (291,401) | (284,329) | (291,401) | (285,041) | (286,995) | (278,512) | (265,801) | ||||
Loan Purchases and Sales | ||||||||||||
Portfolio loans purchased | 180,036 | 64,668 | 224,532 | 270,272 | ||||||||
Portfolio loans sold or transferred to loans held for sale | 98,117 | 179,065 | 284,019 | 283,796 | ||||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 157,902 | 157,902 | 71,974 | |||||||||
Commercial and Industrial | Camco Financial | ||||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||||
Ending balance | 0 | 0 | 823 | |||||||||
Unpaid balance | 1,685 | |||||||||||
Commercial and Industrial | Fidelity Bank | ||||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||||
Ending balance | 19,484 | 19,484 | 22,405 | |||||||||
Unpaid balance | 28,812 | 28,812 | 33,622 | |||||||||
Commercial real estate retail properties | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Commercial real estate | 1,422,640 | 1,422,640 | 1,357,746 | |||||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 7,887 | 7,887 | 21,385 | |||||||||
Commercial real estate Multi family | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Commercial real estate | 1,218,095 | 1,218,095 | 1,090,416 | |||||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 9,183 | 9,183 | 9,743 | |||||||||
Commercial real estate office | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Commercial real estate | 925,830 | 925,830 | 980,303 | |||||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 5,414 | 5,414 | 7,707 | |||||||||
Commercial real estate Industrial and warehouse | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Commercial real estate | 535,765 | 535,765 | 513,401 | |||||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 1,147 | 1,147 | 3,928 | |||||||||
Commercial real estate purchased impaired | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Commercial real estate | 25,775 | 25,775 | 38,371 | |||||||||
Other commercial real estate | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Commercial real estate | 1,276,169 | 1,276,169 | 1,217,166 | |||||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 3,885 | 3,885 | 5,760 | |||||||||
Commercial Real Estate | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Loans and leases | 5,404,274 | 5,404,274 | 5,197,403 | |||||||||
Allowance for loan and lease losses | (109,967) | (115,472) | (109,967) | (115,472) | (92,060) | (102,839) | (137,346) | (162,557) | ||||
Loan Purchases and Sales | ||||||||||||
Portfolio loans purchased | 0 | 0 | 0 | 0 | ||||||||
Portfolio loans sold or transferred to loans held for sale | 0 | 0 | 0 | 7,434 | ||||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 27,516 | 27,516 | 48,523 | |||||||||
Commercial Real Estate | Camco Financial | ||||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||||
Ending balance | 1,156 | 1,156 | 1,708 | |||||||||
Unpaid balance | 1,499 | 1,499 | 3,826 | |||||||||
Commercial Real Estate | Fidelity Bank | ||||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||||
Ending balance | 24,619 | 24,619 | 36,663 | |||||||||
Unpaid balance | 67,413 | 67,413 | 87,250 | |||||||||
Automobile Loan | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Loans and leases | 9,160,241 | 9,160,241 | 8,689,902 | |||||||||
Allowance for loan and lease losses | (43,949) | (30,732) | (43,949) | (30,732) | (39,102) | (33,466) | (27,158) | (31,053) | ||||
Loan Purchases and Sales | ||||||||||||
Portfolio loans purchased | 0 | 0 | 262,037 | 0 | ||||||||
Portfolio loans sold or transferred to loans held for sale | 0 | $ 1,000,000 | 0 | 1,026,195 | 0 | |||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 5,551 | 5,551 | 4,623 | |||||||||
Home equity secured by first-lien other | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Home equity | 5,156,901 | 5,156,901 | ||||||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 33,974 | 33,974 | 46,938 | |||||||||
Home equity secured by junior-lien | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Home equity | 3,304,088 | 3,304,088 | ||||||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 32,472 | 32,472 | 31,577 | |||||||||
Home Equity | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Loans and leases | 8,460,989 | 8,460,989 | 8,490,915 | |||||||||
Allowance for loan and lease losses | (86,838) | (100,375) | (86,838) | (100,375) | (111,178) | (96,413) | (105,943) | (111,131) | ||||
Loan Purchases and Sales | ||||||||||||
Portfolio loans purchased | 0 | 0 | 0 | 0 | ||||||||
Portfolio loans sold or transferred to loans held for sale | 96,786 | 0 | 96,786 | 0 | ||||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 66,446 | 66,446 | 78,515 | |||||||||
Residential mortgage other | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Residential mortgage | 6,069,843 | 6,069,843 | ||||||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 98,908 | 98,908 | 96,609 | |||||||||
Residential mortgage purchased impaired | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Residential mortgage | 1,513 | 1,513 | ||||||||||
Residential Mortgage | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Loans and leases | 6,071,356 | 6,071,356 | 5,830,609 | |||||||||
Allowance for loan and lease losses | (42,794) | (52,658) | (42,794) | (52,658) | (51,679) | (47,211) | (47,191) | (39,577) | ||||
Loan Purchases and Sales | ||||||||||||
Portfolio loans purchased | 57,388 | 2,224 | 164,425 | 16,547 | ||||||||
Portfolio loans sold or transferred to loans held for sale | 0 | 0 | 0 | 0 | ||||||||
Residential Mortgage | Camco Financial | ||||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||||
Ending balance | 0 | 0 | 0 | |||||||||
Unpaid balance | 0 | 0 | 0 | |||||||||
Residential Mortgage | Fidelity Bank | ||||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||||
Ending balance | 1,513 | 1,513 | 1,912 | |||||||||
Unpaid balance | 2,292 | 2,292 | 3,096 | |||||||||
Other consumer other | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Other consumer | 519,570 | 519,570 | ||||||||||
Non Accrual Loans | ||||||||||||
Non Accrual loans | 154 | 154 | 0 | |||||||||
Other consumer purchased impaired | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Other consumer | 50 | 50 | ||||||||||
Other Consumer loan | ||||||||||||
Loan and Lease Portfolio | ||||||||||||
Loans and leases | 519,620 | 519,620 | 413,751 | |||||||||
Allowance for loan and lease losses | (24,061) | (40,398) | (24,061) | (40,398) | $ (20,482) | (38,272) | $ (38,951) | $ (37,751) | ||||
Loan Purchases and Sales | ||||||||||||
Portfolio loans purchased | 0 | 0 | 0 | 0 | ||||||||
Portfolio loans sold or transferred to loans held for sale | 0 | $ 0 | 0 | $ 7,592 | ||||||||
Other Consumer loan | Camco Financial | ||||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||||
Ending balance | 0 | 0 | 0 | |||||||||
Unpaid balance | 0 | 0 | 0 | |||||||||
Other Consumer loan | Fidelity Bank | ||||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||||
Ending balance | 50 | 50 | 51 | |||||||||
Unpaid balance | $ 107 | $ 107 | $ 123 | |||||||||
[1] | (1)Amounts represent loans for which Huntington has elected the fair value option. |
LOANS _ LEASES AND ALLOWANCE 43
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES (Details 1) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Aging Analysis of Loans and Leases | |||
Commercial and industrial | $ 20,039,429 | $ 19,033,146 | |
Commercial real estate | 5,404,274 | 5,197,403 | |
Automobile | 9,160,241 | 8,689,902 | |
Home equity | 8,460,989 | 8,490,915 | |
Residential mortgage | 6,071,356 | 5,830,609 | |
Other consumer | 519,620 | 413,751 | |
Loans and leases | [1] | 49,655,909 | 47,655,726 |
Commercial and industrial owner occupied | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 4,076,700 | 4,254,875 | |
Commercial and industrial purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 19,484 | 23,228 | |
Other commercial and industrial | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 15,943,245 | 14,755,043 | |
Commercial and Industrial | |||
Aging Analysis of Loans and Leases | |||
Loans and leases | 20,039,429 | 19,033,146 | |
Commercial real estate retail properties | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 1,422,640 | 1,357,746 | |
Commercial real estate Multi family | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 1,218,095 | 1,090,416 | |
Commercial real estate office | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 925,830 | 980,303 | |
Commercial real estate Industrial and warehouse | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 535,765 | 513,401 | |
Commercial real estate purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 25,775 | 38,371 | |
Other commercial real estate | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 1,276,169 | 1,217,166 | |
Commercial Real Estate | |||
Aging Analysis of Loans and Leases | |||
Loans and leases | 5,404,274 | 5,197,403 | |
Automobile Loan | |||
Aging Analysis of Loans and Leases | |||
Loans and leases | 9,160,241 | 8,689,902 | |
Home equity secured by first-lien other | |||
Aging Analysis of Loans and Leases | |||
Home equity | 5,156,901 | ||
Home equity secured by junior-lien | |||
Aging Analysis of Loans and Leases | |||
Home equity | 3,304,088 | ||
Home Equity | |||
Aging Analysis of Loans and Leases | |||
Loans and leases | 8,460,989 | 8,490,915 | |
Residential mortgage other | |||
Aging Analysis of Loans and Leases | |||
Residential mortgage | 6,069,843 | ||
Residential mortgage purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Residential mortgage | 1,513 | ||
Residential Mortgage | |||
Aging Analysis of Loans and Leases | |||
Loans and leases | 6,071,356 | 5,830,609 | |
Other consumer other | |||
Aging Analysis of Loans and Leases | |||
Other consumer | 519,570 | ||
Other consumer purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Other consumer | 50 | ||
Other Consumer loan | |||
Aging Analysis of Loans and Leases | |||
Loans and leases | 519,620 | 413,751 | |
Due Past 30 To 59 Days | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 60,604 | 21,408 | |
Commercial real estate | 17,636 | 11,471 | |
Automobile | 58,391 | 56,272 | |
Home equity | 34,962 | 37,509 | |
Residential mortgage | 92,163 | 102,702 | |
Other consumer | 6,411 | 5,491 | |
Loans and leases | 270,167 | 234,853 | |
Due Past 30 To 59 Days | Commercial and industrial owner occupied | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 5,500 | 5,232 | |
Due Past 30 To 59 Days | Commercial and industrial purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 802 | 846 | |
Due Past 30 To 59 Days | Other commercial and industrial | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 54,302 | 15,330 | |
Due Past 30 To 59 Days | Commercial real estate retail properties | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 10,095 | 7,866 | |
Due Past 30 To 59 Days | Commercial real estate Multi family | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 1,078 | 1,517 | |
Due Past 30 To 59 Days | Commercial real estate office | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 5,889 | 464 | |
Due Past 30 To 59 Days | Commercial real estate Industrial and warehouse | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 22 | 688 | |
Due Past 30 To 59 Days | Commercial real estate purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 364 | 89 | |
Due Past 30 To 59 Days | Other commercial real estate | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 188 | 847 | |
Due Past 30 To 59 Days | Home equity secured by first-lien other | |||
Aging Analysis of Loans and Leases | |||
Home equity | 13,269 | 15,036 | |
Due Past 30 To 59 Days | Home equity secured by junior-lien | |||
Aging Analysis of Loans and Leases | |||
Home equity | 21,693 | 22,473 | |
Due Past 30 To 59 Days | Residential mortgage other | |||
Aging Analysis of Loans and Leases | |||
Residential mortgage | 92,163 | 102,702 | |
Due Past 30 To 59 Days | Other consumer other | |||
Aging Analysis of Loans and Leases | |||
Other consumer | 6,411 | 5,491 | |
Due Past 60 To 89 Days | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 27,106 | 4,517 | |
Commercial real estate | 6,209 | 3,049 | |
Automobile | 14,051 | 10,427 | |
Home equity | 17,764 | 20,382 | |
Residential mortgage | 37,313 | 42,009 | |
Other consumer | 1,547 | 1,086 | |
Loans and leases | 103,990 | 81,470 | |
Due Past 60 To 89 Days | Commercial and industrial owner occupied | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 3,742 | 2,981 | |
Due Past 60 To 89 Days | Commercial and industrial purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 1,622 | 0 | |
Due Past 60 To 89 Days | Other commercial and industrial | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 21,742 | 1,536 | |
Due Past 60 To 89 Days | Commercial real estate retail properties | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 297 | 0 | |
Due Past 60 To 89 Days | Commercial real estate Multi family | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 3,620 | 312 | |
Due Past 60 To 89 Days | Commercial real estate office | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 1,094 | 1,167 | |
Due Past 60 To 89 Days | Commercial real estate Industrial and warehouse | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 146 | 0 | |
Due Past 60 To 89 Days | Commercial real estate purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 1,052 | 289 | |
Due Past 60 To 89 Days | Other commercial real estate | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 0 | 1,281 | |
Due Past 60 To 89 Days | Home equity secured by first-lien other | |||
Aging Analysis of Loans and Leases | |||
Home equity | 7,241 | 8,085 | |
Due Past 60 To 89 Days | Home equity secured by junior-lien | |||
Aging Analysis of Loans and Leases | |||
Home equity | 10,523 | 12,297 | |
Due Past 60 To 89 Days | Residential mortgage other | |||
Aging Analysis of Loans and Leases | |||
Residential mortgage | 37,313 | 42,009 | |
Due Past 60 To 89 Days | Other consumer other | |||
Aging Analysis of Loans and Leases | |||
Other consumer | 1,547 | 1,086 | |
Due Past 90 Or More Days | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 32,508 | 32,260 | |
Commercial real estate | 24,269 | 37,181 | |
Automobile | 6,934 | 5,963 | |
Home equity | 59,273 | 66,420 | |
Residential mortgage | 123,097 | 139,379 | |
Other consumer | 1,241 | 837 | |
Loans and leases | 247,322 | 282,040 | |
Due Past 90 Or More Days | Commercial and industrial owner occupied | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 11,195 | 18,222 | |
Due Past 90 Or More Days | Commercial and industrial purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 3,412 | 4,937 | |
Due Past 90 Or More Days | Other commercial and industrial | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 17,901 | 9,101 | |
Due Past 90 Or More Days | Commercial real estate retail properties | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 3,769 | 4,021 | |
Due Past 90 Or More Days | Commercial real estate Multi family | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 2,605 | 3,337 | |
Due Past 90 Or More Days | Commercial real estate office | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 2,211 | 4,415 | |
Due Past 90 Or More Days | Commercial real estate Industrial and warehouse | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 369 | 2,649 | |
Due Past 90 Or More Days | Commercial real estate purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 12,178 | 18,793 | |
Due Past 90 Or More Days | Other commercial real estate | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 3,137 | 3,966 | |
Due Past 90 Or More Days | Home equity secured by first-lien other | |||
Aging Analysis of Loans and Leases | |||
Home equity | 26,321 | 33,014 | |
Due Past 90 Or More Days | Home equity secured by junior-lien | |||
Aging Analysis of Loans and Leases | |||
Home equity | 32,952 | 33,406 | |
Due Past 90 Or More Days | Residential mortgage other | |||
Aging Analysis of Loans and Leases | |||
Residential mortgage | 123,097 | 139,379 | |
Due Past 90 Or More Days | Other consumer other | |||
Aging Analysis of Loans and Leases | |||
Other consumer | 1,241 | 837 | |
Due Past | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 120,218 | 58,185 | |
Commercial real estate | 48,114 | 51,701 | |
Automobile | 79,376 | 72,662 | |
Home equity | 111,999 | 124,311 | |
Residential mortgage | 252,573 | 284,090 | |
Other consumer | 9,199 | 7,414 | |
Loans and leases | 621,479 | 598,363 | |
Due Past | Commercial and industrial owner occupied | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 20,437 | 26,435 | |
Due Past | Commercial and industrial purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 5,836 | 5,783 | |
Due Past | Other commercial and industrial | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 93,945 | 25,967 | |
Due Past | Commercial real estate retail properties | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 14,161 | 11,887 | |
Due Past | Commercial real estate Multi family | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 7,303 | 5,166 | |
Due Past | Commercial real estate office | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 9,194 | 6,046 | |
Due Past | Commercial real estate Industrial and warehouse | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 537 | 3,337 | |
Due Past | Commercial real estate purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 13,594 | 19,171 | |
Due Past | Other commercial real estate | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 3,325 | 6,094 | |
Due Past | Home equity secured by first-lien other | |||
Aging Analysis of Loans and Leases | |||
Home equity | 46,831 | 56,135 | |
Due Past | Home equity secured by junior-lien | |||
Aging Analysis of Loans and Leases | |||
Home equity | 65,168 | 68,176 | |
Due Past | Residential mortgage other | |||
Aging Analysis of Loans and Leases | |||
Residential mortgage | 252,573 | 284,090 | |
Due Past | Other consumer other | |||
Aging Analysis of Loans and Leases | |||
Other consumer | 9,199 | 7,414 | |
Current Loans And Leases | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 19,919,211 | 18,974,961 | |
Commercial real estate | 5,356,160 | 5,145,702 | |
Automobile | 9,080,865 | 8,617,240 | |
Home equity | 8,348,990 | 8,366,604 | |
Residential mortgage | 5,818,783 | 5,546,519 | |
Other consumer | 510,421 | 406,337 | |
Loans and leases | 49,034,430 | 47,057,363 | |
Current Loans And Leases | Commercial and industrial owner occupied | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 4,056,263 | 4,228,440 | |
Current Loans And Leases | Commercial and industrial purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 13,648 | 17,445 | |
Current Loans And Leases | Other commercial and industrial | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 15,849,300 | 14,729,076 | |
Current Loans And Leases | Commercial real estate retail properties | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 1,408,479 | 1,345,859 | |
Current Loans And Leases | Commercial real estate Multi family | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 1,210,792 | 1,085,250 | |
Current Loans And Leases | Commercial real estate office | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 916,636 | 974,257 | |
Current Loans And Leases | Commercial real estate Industrial and warehouse | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 535,228 | 510,064 | |
Current Loans And Leases | Commercial real estate purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 12,181 | 19,200 | |
Current Loans And Leases | Other commercial real estate | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 1,272,844 | 1,211,072 | |
Current Loans And Leases | Home equity secured by first-lien other | |||
Aging Analysis of Loans and Leases | |||
Home equity | 5,110,070 | 5,072,669 | |
Current Loans And Leases | Home equity secured by junior-lien | |||
Aging Analysis of Loans and Leases | |||
Home equity | 3,238,920 | 3,293,935 | |
Current Loans And Leases | Residential mortgage other | |||
Aging Analysis of Loans and Leases | |||
Residential mortgage | 5,817,270 | 5,544,607 | |
Current Loans And Leases | Residential mortgage purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Residential mortgage | 1,513 | 1,912 | |
Current Loans And Leases | Other consumer other | |||
Aging Analysis of Loans and Leases | |||
Other consumer | 510,371 | 406,286 | |
Current Loans And Leases | Other consumer purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Other consumer | 50 | 51 | |
Total Loans And Leases | |||
Aging Analysis of Loans and Leases | |||
Other consumer | 519,620 | 413,751 | |
Loans and leases | 49,655,909 | 47,655,726 | |
Total Loans And Leases | Commercial and industrial owner occupied | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 4,076,700 | 4,254,875 | |
Total Loans And Leases | Commercial and industrial purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 19,484 | 23,228 | |
Total Loans And Leases | Other commercial and industrial | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 15,943,245 | 14,755,043 | |
Total Loans And Leases | Commercial real estate retail properties | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 1,422,640 | 1,357,746 | |
Total Loans And Leases | Commercial real estate Multi family | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 1,218,095 | 1,090,416 | |
Total Loans And Leases | Commercial real estate office | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 925,830 | 980,303 | |
Total Loans And Leases | Commercial real estate Industrial and warehouse | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 535,765 | 513,401 | |
Total Loans And Leases | Commercial real estate purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 25,775 | 38,371 | |
Total Loans And Leases | Other commercial real estate | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 1,276,169 | 1,217,166 | |
Total Loans And Leases | Home equity secured by first-lien other | |||
Aging Analysis of Loans and Leases | |||
Home equity | 5,156,901 | 5,128,804 | |
Total Loans And Leases | Home equity secured by junior-lien | |||
Aging Analysis of Loans and Leases | |||
Home equity | 3,304,088 | 3,362,111 | |
Total Loans And Leases | Residential mortgage other | |||
Aging Analysis of Loans and Leases | |||
Residential mortgage | 6,069,843 | 5,828,697 | |
Total Loans And Leases | Residential mortgage purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Residential mortgage | 1,513 | 1,912 | |
Total Loans And Leases | Other consumer other | |||
Aging Analysis of Loans and Leases | |||
Other consumer | 519,570 | 413,700 | |
Total Loans And Leases | Other consumer purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Other consumer | 50 | 51 | |
Due Past And Accruing 90 Or More Days | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 6,571 | 4,937 | |
Commercial real estate | 12,178 | 18,793 | |
Automobile | 6,873 | 5,703 | |
Home equity | 10,764 | 12,159 | |
Residential mortgage | 68,135 | 88,052 | |
Other consumer | 1,087 | 837 | |
Loans and leases | 105,608 | 130,481 | |
Due Past And Accruing 90 Or More Days | Commercial and industrial purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 3,412 | 4,937 | |
Due Past And Accruing 90 Or More Days | Other commercial and industrial | |||
Aging Analysis of Loans and Leases | |||
Commercial and industrial | 3,159 | ||
Due Past And Accruing 90 Or More Days | Commercial real estate purchased impaired | |||
Aging Analysis of Loans and Leases | |||
Commercial real estate | 12,178 | 18,793 | |
Due Past And Accruing 90 Or More Days | Home equity secured by first-lien other | |||
Aging Analysis of Loans and Leases | |||
Home equity | 4,207 | 4,471 | |
Due Past And Accruing 90 Or More Days | Home equity secured by junior-lien | |||
Aging Analysis of Loans and Leases | |||
Home equity | 6,557 | 7,688 | |
Due Past And Accruing 90 Or More Days | Residential mortgage other | |||
Aging Analysis of Loans and Leases | |||
Residential mortgage | 68,135 | 88,052 | |
Due Past And Accruing 90 Or More Days | Other consumer other | |||
Aging Analysis of Loans and Leases | |||
Other consumer | $ 1,087 | $ 837 | |
[1] | (1)Amounts represent loans for which Huntington has elected the fair value option. |
LOANS _ LEASES AND ALLOWANCE 44
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | $ 599,542 | $ 635,101 | $ 605,196 | $ 647,870 | |
Loan charge-offs | (60,875) | (58,511) | (162,920) | (190,349) | |
Recoveries of loans previously charged-off | 44,712 | 28,488 | 96,950 | 88,697 | |
Provision for loan and lease losses | 13,624 | 25,958 | 60,069 | 85,945 | |
Allowance for loans sold or transferred to loans held for sale | (5,065) | 0 | (7,357) | (1,127) | |
ALLL balance, end of period | 591,938 | 631,036 | 591,938 | 631,036 | |
AULC balance, beginning of period | 55,371 | 56,927 | 60,806 | 62,899 | |
Provision for unfunded loan commitments and letters of credit | 8,852 | (1,478) | 3,417 | (7,450) | |
AULC Balance, end of period | 64,223 | 55,449 | 64,223 | 55,449 | |
ACL balance, end of period | 656,161 | 686,485 | 656,161 | 686,485 | |
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 20,039,429 | 20,039,429 | $ 19,033,146 | ||
Total commercial real estate | 5,404,274 | 5,404,274 | 5,197,403 | ||
Automobile | 9,160,241 | 9,160,241 | 8,689,902 | ||
Automobile loans including automobile loans transferred to loans held for sale | 9,160,241 | 9,160,241 | |||
Home equity | 8,460,989 | 8,460,989 | 8,490,915 | ||
Residential mortgage | 6,071,356 | 6,071,356 | 5,830,609 | ||
Other consumer | 519,620 | 519,620 | 413,751 | ||
Commercial and industrial owner occupied | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 4,076,700 | 4,076,700 | 4,254,875 | ||
Commercial and industrial purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 19,484 | 19,484 | 23,228 | ||
Other commercial and industrial | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 15,943,245 | 15,943,245 | 14,755,043 | ||
Commercial and Industrial | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 285,041 | 278,512 | 286,995 | 265,801 | |
Loan charge-offs | (26,016) | (20,723) | (62,841) | (60,305) | |
Recoveries of loans previously charged-off | 16,158 | 8,136 | 37,169 | 28,515 | |
Provision for loan and lease losses | 9,146 | 25,476 | 23,006 | 57,390 | |
Allowance for loans sold or transferred to loans held for sale | 0 | 0 | 0 | 0 | |
ALLL balance, end of period | 284,329 | 291,401 | 284,329 | 291,401 | |
AULC balance, beginning of period | 41,849 | 44,750 | 48,988 | 49,596 | |
Provision for unfunded loan commitments and letters of credit | 6,794 | (1,545) | (345) | (6,391) | |
AULC Balance, end of period | 48,643 | 43,205 | 48,643 | 43,205 | |
ACL balance, end of period | 332,972 | 334,606 | 332,972 | 334,606 | |
Commercial real estate retail properties | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,422,640 | 1,422,640 | 1,357,746 | ||
Commercial real estate Multi family | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,218,095 | 1,218,095 | 1,090,416 | ||
Commercial real estate office | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 925,830 | 925,830 | 980,303 | ||
Commercial real estate Industrial and warehouse | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 535,765 | 535,765 | 513,401 | ||
Commercial real estate purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 25,775 | 25,775 | 38,371 | ||
Other commercial real estate | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,276,169 | 1,276,169 | 1,217,166 | ||
Commercial Real Estate | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 92,060 | 137,346 | 102,839 | 162,557 | |
Loan charge-offs | (3,976) | (4,664) | (14,277) | (17,772) | |
Recoveries of loans previously charged-off | 17,797 | 10,671 | 26,585 | 26,957 | |
Provision for loan and lease losses | 4,086 | (27,881) | (5,180) | (56,270) | |
Allowance for loans sold or transferred to loans held for sale | 0 | 0 | 0 | 0 | |
ALLL balance, end of period | 109,967 | 115,472 | 109,967 | 115,472 | |
AULC balance, beginning of period | 5,778 | 7,530 | 6,041 | 9,891 | |
Provision for unfunded loan commitments and letters of credit | 1,965 | (552) | 1,702 | (2,913) | |
AULC Balance, end of period | 7,743 | 6,978 | 7,743 | 6,978 | |
ACL balance, end of period | 117,710 | 122,450 | 117,710 | 122,450 | |
Automobile Loan | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 39,102 | 27,158 | 33,466 | 31,053 | |
Loan charge-offs | (9,084) | (7,292) | (24,878) | (21,969) | |
Recoveries of loans previously charged-off | 4,176 | 3,316 | 12,280 | 10,425 | |
Provision for loan and lease losses | 9,755 | 7,550 | 25,373 | 11,223 | |
Allowance for loans sold or transferred to loans held for sale | 0 | 0 | (2,292) | 0 | |
ALLL balance, end of period | 43,949 | 30,732 | 43,949 | 30,732 | |
AULC balance, beginning of period | 0 | 0 | 0 | 0 | |
Provision for unfunded loan commitments and letters of credit | 0 | 0 | 0 | 0 | |
AULC Balance, end of period | 0 | 0 | 0 | 0 | |
ACL balance, end of period | 43,949 | 30,732 | 43,949 | 30,732 | |
Home equity secured by first-lien other | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 5,156,901 | 5,156,901 | |||
Home equity secured by junior-lien | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 3,304,088 | 3,304,088 | |||
Home Equity | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 111,178 | 105,943 | 96,413 | 111,131 | |
Loan charge-offs | (10,164) | (9,584) | (27,379) | (43,844) | |
Recoveries of loans previously charged-off | 4,295 | 3,136 | 12,235 | 13,218 | |
Provision for loan and lease losses | (13,406) | 880 | 10,634 | 19,870 | |
Allowance for loans sold or transferred to loans held for sale | (5,065) | 0 | (5,065) | 0 | |
ALLL balance, end of period | 86,838 | 100,375 | 86,838 | 100,375 | |
AULC balance, beginning of period | 2,522 | 1,977 | 1,924 | 1,763 | |
Provision for unfunded loan commitments and letters of credit | (619) | (18) | (21) | 196 | |
AULC Balance, end of period | 1,903 | 1,959 | 1,903 | 1,959 | |
ACL balance, end of period | 88,741 | 102,334 | 88,741 | 102,334 | |
Residential mortgage other | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 6,069,843 | 6,069,843 | |||
Residential mortgage purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 1,513 | 1,513 | |||
Residential Mortgage | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 51,679 | 47,191 | 47,211 | 39,577 | |
Loan charge-offs | (3,192) | (6,477) | (11,665) | (21,525) | |
Recoveries of loans previously charged-off | 1,182 | 1,049 | 4,697 | 4,832 | |
Provision for loan and lease losses | (6,875) | 10,895 | 2,551 | 29,774 | |
Allowance for loans sold or transferred to loans held for sale | 0 | 0 | 0 | 0 | |
ALLL balance, end of period | 42,794 | 52,658 | 42,794 | 52,658 | |
AULC balance, beginning of period | 17 | 8 | 8 | 9 | |
Provision for unfunded loan commitments and letters of credit | 0 | 2 | 9 | 1 | |
AULC Balance, end of period | 17 | 10 | 17 | 10 | |
ACL balance, end of period | 42,811 | 52,668 | 42,811 | 52,668 | |
Other consumer other | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 519,570 | 519,570 | |||
Other consumer purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 50 | 50 | |||
Other Consumer loan | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 20,482 | 38,951 | 38,272 | 37,751 | |
Loan charge-offs | (8,443) | (9,771) | (21,880) | (24,934) | |
Recoveries of loans previously charged-off | 1,104 | 2,180 | 3,984 | 4,750 | |
Provision for loan and lease losses | 10,918 | 9,038 | 3,685 | 23,958 | |
Allowance for loans sold or transferred to loans held for sale | 0 | 0 | 0 | (1,127) | |
ALLL balance, end of period | 24,061 | 40,398 | 24,061 | 40,398 | |
AULC balance, beginning of period | 5,205 | 2,662 | 3,845 | 1,640 | |
Provision for unfunded loan commitments and letters of credit | 712 | 635 | 2,072 | 1,657 | |
AULC Balance, end of period | 5,917 | 3,297 | 5,917 | 3,297 | |
ACL balance, end of period | 29,978 | $ 43,695 | 29,978 | $ 43,695 | |
Pass | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 18,799,060 | 18,799,060 | 17,888,295 | ||
Total commercial real estate | 5,171,832 | 5,171,832 | 4,886,720 | ||
Pass | Commercial and industrial owner occupied | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 3,763,002 | 3,763,002 | 3,959,046 | ||
Pass | Commercial and industrial purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 4,321 | 4,321 | 3,915 | ||
Pass | Other commercial and industrial | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 15,031,737 | 15,031,737 | 13,925,334 | ||
Pass | Commercial real estate retail properties | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,372,078 | 1,372,078 | 1,279,064 | ||
Pass | Commercial real estate Multi family | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,162,776 | 1,162,776 | 1,044,521 | ||
Pass | Commercial real estate office | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 861,564 | 861,564 | 902,474 | ||
Pass | Commercial real estate Industrial and warehouse | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 527,047 | 527,047 | 487,454 | ||
Pass | Commercial real estate purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 8,333 | 8,333 | 6,914 | ||
Pass | Other commercial real estate | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,240,034 | 1,240,034 | 1,166,293 | ||
OLEM | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 386,300 | 386,300 | 505,044 | ||
Total commercial real estate | 78,163 | 78,163 | 74,234 | ||
OLEM | Commercial and industrial owner occupied | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 96,338 | 96,338 | 117,637 | ||
OLEM | Commercial and industrial purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 641 | 641 | 741 | ||
OLEM | Other commercial and industrial | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 289,321 | 289,321 | 386,666 | ||
OLEM | Commercial real estate retail properties | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 10,659 | 10,659 | 10,204 | ||
OLEM | Commercial real estate Multi family | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 32,220 | 32,220 | 12,608 | ||
OLEM | Commercial real estate office | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 27,713 | 27,713 | 33,107 | ||
OLEM | Commercial real estate Industrial and warehouse | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 268 | 268 | 7,877 | ||
OLEM | Commercial real estate purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 189 | 189 | 803 | ||
OLEM | Other commercial real estate | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 7,114 | 7,114 | 9,635 | ||
Substandard | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 844,985 | 844,985 | 630,704 | ||
Total commercial real estate | 150,193 | 150,193 | 226,071 | ||
Substandard | Commercial and industrial owner occupied | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 213,755 | 213,755 | 175,767 | ||
Substandard | Commercial and industrial purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 14,522 | 14,522 | 14,901 | ||
Substandard | Other commercial and industrial | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 616,708 | 616,708 | 440,036 | ||
Substandard | Commercial real estate retail properties | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 39,903 | 39,903 | 67,911 | ||
Substandard | Commercial real estate Multi family | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 22,733 | 22,733 | 32,322 | ||
Substandard | Commercial real estate office | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 35,267 | 35,267 | 42,578 | ||
Substandard | Commercial real estate Industrial and warehouse | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 8,374 | 8,374 | 17,781 | ||
Substandard | Commercial real estate purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 15,456 | 15,456 | 25,460 | ||
Substandard | Other commercial real estate | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 28,460 | 28,460 | 40,019 | ||
Doubtful | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 9,084 | 9,084 | 9,103 | ||
Total commercial real estate | 4,086 | 4,086 | 10,378 | ||
Doubtful | Commercial and industrial owner occupied | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 3,605 | 3,605 | 2,425 | ||
Doubtful | Commercial and industrial purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 0 | 0 | 3,671 | ||
Doubtful | Other commercial and industrial | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 5,479 | 5,479 | 3,007 | ||
Doubtful | Commercial real estate retail properties | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 0 | 0 | 567 | ||
Doubtful | Commercial real estate Multi family | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 366 | 366 | 965 | ||
Doubtful | Commercial real estate office | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,286 | 1,286 | 2,144 | ||
Doubtful | Commercial real estate Industrial and warehouse | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 76 | 76 | 289 | ||
Doubtful | Commercial real estate purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,797 | 1,797 | 5,194 | ||
Doubtful | Other commercial real estate | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 561 | 561 | 1,219 | ||
750 or more | |||||
Loan and lease balances by credit quality indicator | |||||
Automobile loans including automobile loans transferred to loans held for sale | 4,465,597 | 4,465,597 | |||
Home equity | 5,143,519 | 5,143,519 | |||
Residential mortgage | 3,564,140 | 3,564,140 | |||
Other consumer | 216,820 | 216,820 | |||
750 or more | Automobile Loan | |||||
Loan and lease balances by credit quality indicator | |||||
Automobile loans including automobile loans transferred to loans held for sale | 4,165,811 | ||||
750 or more | Home equity secured by first-lien other | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 3,314,317 | 3,314,317 | 3,255,088 | ||
750 or more | Home equity secured by junior-lien | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 1,829,202 | 1,829,202 | 1,832,663 | ||
750 or more | Home Equity | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 5,087,751 | ||||
750 or more | Residential mortgage other | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 3,563,718 | 3,563,718 | 3,285,310 | ||
750 or more | Residential mortgage purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 422 | 422 | 594 | ||
750 or more | Residential Mortgage | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 3,285,904 | ||||
750 or more | Other consumer other | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 216,820 | 216,820 | 195,128 | ||
750 or more | Other consumer purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 0 | 0 | 0 | ||
750 or more | Other Consumer loan | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 195,128 | ||||
650-749 | |||||
Loan and lease balances by credit quality indicator | |||||
Automobile loans including automobile loans transferred to loans held for sale | 3,388,521 | 3,388,521 | |||
Home equity | 2,471,695 | 2,471,695 | |||
Residential mortgage | 1,859,999 | 1,859,999 | |||
Other consumer | 248,784 | 248,784 | |||
650-749 | Automobile Loan | |||||
Loan and lease balances by credit quality indicator | |||||
Automobile loans including automobile loans transferred to loans held for sale | 3,249,141 | ||||
650-749 | Home equity secured by first-lien other | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 1,436,522 | 1,436,522 | 1,426,191 | ||
650-749 | Home equity secured by junior-lien | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 1,035,173 | 1,035,173 | 1,095,332 | ||
650-749 | Home Equity | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 2,521,523 | ||||
650-749 | Residential mortgage other | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 1,859,268 | 1,859,268 | 1,785,137 | ||
650-749 | Residential mortgage purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 731 | 731 | 1,135 | ||
650-749 | Residential Mortgage | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 1,786,272 | ||||
650-749 | Other consumer other | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 248,734 | 248,734 | 187,781 | ||
650-749 | Other consumer purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 50 | 50 | 51 | ||
650-749 | Other Consumer loan | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 187,832 | ||||
Less than 650 | |||||
Loan and lease balances by credit quality indicator | |||||
Automobile loans including automobile loans transferred to loans held for sale | 1,053,464 | 1,053,464 | |||
Home equity | 588,603 | 588,603 | |||
Residential mortgage | 602,532 | 602,532 | |||
Other consumer | 48,239 | 48,239 | |||
Less than 650 | Automobile Loan | |||||
Loan and lease balances by credit quality indicator | |||||
Automobile loans including automobile loans transferred to loans held for sale | 1,028,381 | ||||
Less than 650 | Home equity secured by first-lien other | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 252,179 | 252,179 | 283,152 | ||
Less than 650 | Home equity secured by junior-lien | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 336,424 | 336,424 | 348,825 | ||
Less than 650 | Home Equity | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 631,977 | ||||
Less than 650 | Residential mortgage other | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 602,172 | 602,172 | 666,562 | ||
Less than 650 | Residential mortgage purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 360 | 360 | 183 | ||
Less than 650 | Residential Mortgage | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 666,745 | ||||
Less than 650 | Other consumer other | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 48,239 | 48,239 | 30,582 | ||
Less than 650 | Other consumer purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 0 | 0 | 0 | ||
Less than 650 | Other Consumer loan | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 30,582 | ||||
Other (2) | |||||
Loan and lease balances by credit quality indicator | |||||
Automobile loans including automobile loans transferred to loans held for sale | 252,659 | 252,659 | |||
Home equity | 257,172 | 257,172 | |||
Residential mortgage | 44,685 | 44,685 | |||
Other consumer | 5,777 | 5,777 | |||
Other (2) | Automobile Loan | |||||
Loan and lease balances by credit quality indicator | |||||
Automobile loans including automobile loans transferred to loans held for sale | 246,569 | ||||
Other (2) | Home equity secured by first-lien other | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 153,883 | 153,883 | 164,373 | ||
Other (2) | Home equity secured by junior-lien | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 103,289 | 103,289 | 85,291 | ||
Other (2) | Home Equity | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 249,664 | ||||
Other (2) | Residential mortgage other | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 44,685 | 44,685 | 91,688 | ||
Other (2) | Residential mortgage purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 0 | 0 | 0 | ||
Other (2) | Residential Mortgage | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 91,688 | ||||
Other (2) | Other consumer other | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 5,777 | 5,777 | 209 | ||
Other (2) | Other consumer purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | $ 0 | $ 0 | 0 | ||
Other (2) | Other Consumer loan | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 209 | ||||
Total | Automobile Loan | |||||
Loan and lease balances by credit quality indicator | |||||
Automobile loans including automobile loans transferred to loans held for sale | 8,689,902 | ||||
Total | Home equity secured by first-lien other | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 5,128,804 | ||||
Total | Home equity secured by junior-lien | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 3,362,111 | ||||
Total | Home Equity | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 8,490,915 | ||||
Total | Residential mortgage other | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 5,828,697 | ||||
Total | Residential mortgage purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 1,912 | ||||
Total | Residential Mortgage | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 5,830,609 | ||||
Total | Other consumer other | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 413,700 | ||||
Total | Other consumer purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 51 | ||||
Total | Other Consumer loan | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | $ 413,751 |
LOANS _ LEASES AND ALLOWANCE 45
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Commercial and industrial owner occupied | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with no allowance recorded | $ 45,595 | $ 45,595 | $ 13,536 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 55,449 | 55,449 | 13,536 | ||
Average balance of impaired loans with no allowance recorded | 42,137 | $ 5,365 | 25,142 | $ 4,650 | |
Interest income recognized on impaired loans with no allowance recorded | 149 | 50 | 296 | 134 | |
Ending balance of impaired loans with allowance recorded | 57,048 | 57,048 | 44,869 | ||
Unpaid principal balance of impaired loans with allowance recorded | 67,187 | 67,187 | 53,639 | ||
Related Allowance | 3,544 | 3,544 | 4,220 | ||
Average balance of impaired loans with allowance recorded | 53,136 | 39,001 | 54,622 | 39,653 | |
Interest income recognized on impaired loans with allowance recorded | 524 | 383 | 1,458 | 1,172 | |
Commercial and industrial purchased impaired | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Average balance of impaired loans with no allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | 0 | 0 | |
Ending balance of impaired loans with allowance recorded | 19,484 | 19,484 | 23,228 | ||
Unpaid principal balance of impaired loans with allowance recorded | 28,812 | 28,812 | 35,307 | ||
Related Allowance | 547 | 547 | 3,846 | ||
Average balance of impaired loans with allowance recorded | 19,803 | 33,056 | 21,053 | 34,509 | |
Interest income recognized on impaired loans with allowance recorded | 1,216 | 1,306 | 4,176 | 6,508 | |
Other commercial and industrial | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with no allowance recorded | 101,805 | 101,805 | 24,309 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 132,213 | 132,213 | 26,858 | ||
Average balance of impaired loans with no allowance recorded | 90,885 | 5,137 | 68,114 | 6,768 | |
Interest income recognized on impaired loans with no allowance recorded | 561 | 70 | 1,398 | 256 | |
Ending balance of impaired loans with allowance recorded | 250,200 | 250,200 | 134,279 | ||
Unpaid principal balance of impaired loans with allowance recorded | 264,320 | 264,320 | 162,908 | ||
Related Allowance | 9,280 | 9,280 | 6,829 | ||
Average balance of impaired loans with allowance recorded | 225,478 | 108,856 | 185,312 | 79,925 | |
Interest income recognized on impaired loans with allowance recorded | 1,680 | 658 | 4,054 | 1,937 | |
Commercial and Industrial | |||||
Detailed impaired loan information by class | |||||
Loans considered impaired due to status as a TDR | 95,616 | 95,616 | 62,737 | ||
Ending balance of impaired loans with no allowance recorded | 147,400 | 147,400 | 37,845 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 187,662 | 187,662 | 40,394 | ||
Average balance of impaired loans with no allowance recorded | 133,022 | 10,502 | 93,256 | 11,418 | |
Interest income recognized on impaired loans with no allowance recorded | 710 | 120 | 1,694 | 390 | |
Ending balance of impaired loans with allowance recorded | 326,732 | 326,732 | 202,376 | ||
Unpaid principal balance of impaired loans with allowance recorded | 360,319 | 360,319 | 251,854 | ||
Related Allowance | 13,371 | 13,371 | 14,895 | ||
Average balance of impaired loans with allowance recorded | 298,417 | 180,913 | 260,987 | 154,087 | |
Interest income recognized on impaired loans with allowance recorded | 3,420 | 2,347 | 9,688 | 9,617 | |
Commercial real estate retail properties | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with no allowance recorded | 42,412 | 42,412 | 61,915 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 64,421 | 64,421 | 91,627 | ||
Average balance of impaired loans with no allowance recorded | 45,483 | 50,023 | 51,315 | 53,117 | |
Interest income recognized on impaired loans with no allowance recorded | 526 | 617 | 1,485 | 1,854 | |
Ending balance of impaired loans with allowance recorded | 20,938 | 20,938 | 37,081 | ||
Unpaid principal balance of impaired loans with allowance recorded | 25,945 | 25,945 | 38,397 | ||
Related Allowance | 3,175 | 3,175 | 3,536 | ||
Average balance of impaired loans with allowance recorded | 32,387 | 67,589 | 39,074 | 66,780 | |
Interest income recognized on impaired loans with allowance recorded | 332 | 505 | 1,112 | 1,569 | |
Commercial real estate Multi family | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Average balance of impaired loans with no allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | 0 | 0 | |
Ending balance of impaired loans with allowance recorded | 14,388 | 14,388 | 17,277 | ||
Unpaid principal balance of impaired loans with allowance recorded | 19,067 | 19,067 | 23,725 | ||
Related Allowance | 1,506 | 1,506 | 2,339 | ||
Average balance of impaired loans with allowance recorded | 15,320 | 17,551 | 15,582 | 16,472 | |
Interest income recognized on impaired loans with allowance recorded | 161 | 172 | 515 | 488 | |
Commercial real estate office | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with no allowance recorded | 9,112 | 9,112 | 1,130 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 12,993 | 12,993 | 3,574 | ||
Average balance of impaired loans with no allowance recorded | 8,815 | 4,040 | 7,336 | 4,280 | |
Interest income recognized on impaired loans with no allowance recorded | 34 | 49 | 151 | 279 | |
Ending balance of impaired loans with allowance recorded | 12,508 | 12,508 | 52,953 | ||
Unpaid principal balance of impaired loans with allowance recorded | 16,324 | 16,324 | 56,268 | ||
Related Allowance | 1,122 | 1,122 | 8,399 | ||
Average balance of impaired loans with allowance recorded | 20,639 | 53,262 | 37,272 | 52,981 | |
Interest income recognized on impaired loans with allowance recorded | 201 | 624 | 1,214 | 1,771 | |
Commercial real estate Industrial and warehouse | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with no allowance recorded | 2,018 | 2,018 | 3,447 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 2,039 | 2,039 | 3,506 | ||
Average balance of impaired loans with no allowance recorded | 673 | 3,619 | 400 | 5,940 | |
Interest income recognized on impaired loans with no allowance recorded | 10 | 45 | 17 | 221 | |
Ending balance of impaired loans with allowance recorded | 6,266 | 6,266 | 8,888 | ||
Unpaid principal balance of impaired loans with allowance recorded | 6,751 | 6,751 | 10,396 | ||
Related Allowance | 1,014 | 1,014 | 720 | ||
Average balance of impaired loans with allowance recorded | 6,296 | 9,279 | 6,949 | 9,198 | |
Interest income recognized on impaired loans with allowance recorded | 84 | 90 | 246 | 199 | |
Commercial real estate purchased impaired | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | 38,371 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | 91,075 | ||
Average balance of impaired loans with no allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | 0 | 0 | |
Ending balance of impaired loans with allowance recorded | 25,775 | 25,775 | 0 | ||
Unpaid principal balance of impaired loans with allowance recorded | 68,912 | 68,912 | 0 | ||
Related Allowance | 42 | 42 | 0 | ||
Average balance of impaired loans with allowance recorded | 26,684 | 49,979 | 31,770 | 64,688 | |
Interest income recognized on impaired loans with allowance recorded | 1,611 | 1,813 | 5,531 | 9,034 | |
Other commercial real estate | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with no allowance recorded | 2,250 | 2,250 | 6,608 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 2,282 | 2,282 | 6,815 | ||
Average balance of impaired loans with no allowance recorded | 1,956 | 7,962 | 2,716 | 6,879 | |
Interest income recognized on impaired loans with no allowance recorded | 20 | 85 | 81 | 221 | |
Ending balance of impaired loans with allowance recorded | 24,505 | 24,505 | 27,963 | ||
Unpaid principal balance of impaired loans with allowance recorded | 30,567 | 30,567 | 33,472 | ||
Related Allowance | 3,641 | 3,641 | 3,893 | ||
Average balance of impaired loans with allowance recorded | 25,368 | 41,661 | 27,974 | 45,316 | |
Interest income recognized on impaired loans with allowance recorded | 306 | 469 | 994 | 1,483 | |
Commercial Real Estate | |||||
Detailed impaired loan information by class | |||||
Loans considered impaired due to status as a TDR | 45,578 | 45,578 | 27,423 | ||
Ending balance of impaired loans with no allowance recorded | 55,792 | 55,792 | 111,471 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 81,735 | 81,735 | 196,597 | ||
Average balance of impaired loans with no allowance recorded | 56,927 | 65,644 | 61,767 | 70,216 | |
Interest income recognized on impaired loans with no allowance recorded | 590 | 796 | 1,734 | 2,575 | |
Ending balance of impaired loans with allowance recorded | 104,380 | 104,380 | 144,162 | ||
Unpaid principal balance of impaired loans with allowance recorded | 167,566 | 167,566 | 162,258 | ||
Related Allowance | 10,500 | 10,500 | 18,887 | ||
Average balance of impaired loans with allowance recorded | 126,694 | 239,321 | 158,621 | 255,435 | |
Interest income recognized on impaired loans with allowance recorded | 2,695 | 3,673 | 9,612 | 14,544 | |
Automobile Loan | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with allowance recorded | 29,938 | 29,938 | 30,612 | ||
Unpaid principal balance of impaired loans with allowance recorded | 30,470 | 30,470 | 32,483 | ||
Related Allowance | 1,446 | 1,446 | 1,531 | ||
Average balance of impaired loans with allowance recorded | 29,371 | 36,209 | 29,878 | 35,643 | |
Interest income recognized on impaired loans with allowance recorded | 554 | 632 | 1,659 | 2,034 | |
Home equity secured by first-lien other | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with allowance recorded | 48,690 | 48,690 | 145,566 | ||
Unpaid principal balance of impaired loans with allowance recorded | 53,885 | 53,885 | 157,978 | ||
Related Allowance | 3,984 | 3,984 | 8,296 | ||
Average balance of impaired loans with allowance recorded | 99,474 | 131,301 | 123,010 | 121,861 | |
Interest income recognized on impaired loans with allowance recorded | 417 | 1,391 | 3,716 | 4,001 | |
Home equity secured by junior-lien | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with allowance recorded | 192,196 | 192,196 | 164,880 | ||
Unpaid principal balance of impaired loans with allowance recorded | 225,689 | 225,689 | 208,118 | ||
Related Allowance | 17,362 | 17,362 | 17,731 | ||
Average balance of impaired loans with allowance recorded | 189,211 | 144,919 | 179,798 | 124,254 | |
Interest income recognized on impaired loans with allowance recorded | 2,308 | 1,678 | 6,525 | 4,539 | |
Home Equity | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with allowance recorded | 240,886 | 240,886 | 310,446 | ||
Unpaid principal balance of impaired loans with allowance recorded | 279,574 | 279,574 | 366,096 | ||
Related Allowance | 21,346 | 21,346 | 26,027 | ||
Average balance of impaired loans with allowance recorded | 288,685 | 276,220 | 302,808 | 246,115 | |
Interest income recognized on impaired loans with allowance recorded | 2,725 | 3,069 | 10,241 | 8,540 | |
Residential mortgage other | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with allowance recorded | 383,718 | 383,718 | 369,577 | ||
Unpaid principal balance of impaired loans with allowance recorded | 426,569 | 426,569 | 415,280 | ||
Related Allowance | 10,186 | 10,186 | 16,535 | ||
Average balance of impaired loans with allowance recorded | 374,250 | 391,288 | 372,946 | 384,787 | |
Interest income recognized on impaired loans with allowance recorded | 3,209 | 2,813 | 9,309 | 8,661 | |
Residential mortgage purchased impaired | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with allowance recorded | 1,513 | 1,513 | 1,912 | ||
Unpaid principal balance of impaired loans with allowance recorded | 2,292 | 2,292 | 3,096 | ||
Related Allowance | 70 | 70 | 8 | ||
Average balance of impaired loans with allowance recorded | 1,776 | 2,369 | 1,908 | 2,373 | |
Interest income recognized on impaired loans with allowance recorded | 94 | 101 | 321 | 504 | |
Residential Mortgage | |||||
Detailed impaired loan information by class | |||||
Amount of TDRs guaranteed by the U.S. government | 31,767 | 31,767 | 24,470 | ||
Ending balance of impaired loans with allowance recorded | 385,231 | 385,231 | 371,489 | ||
Unpaid principal balance of impaired loans with allowance recorded | 428,861 | 428,861 | 418,376 | ||
Related Allowance | 10,256 | 10,256 | 16,543 | ||
Average balance of impaired loans with allowance recorded | 376,026 | 393,657 | 374,854 | 387,160 | |
Interest income recognized on impaired loans with allowance recorded | 3,303 | 2,914 | 9,630 | 9,165 | |
Other consumer other | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Average balance of impaired loans with no allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | 0 | 0 | |
Ending balance of impaired loans with allowance recorded | 4,720 | 4,720 | 4,088 | ||
Unpaid principal balance of impaired loans with allowance recorded | 4,753 | 4,753 | 4,209 | ||
Related Allowance | 142 | 142 | 214 | ||
Average balance of impaired loans with allowance recorded | 4,801 | 3,502 | 4,683 | 2,473 | |
Interest income recognized on impaired loans with allowance recorded | 64 | 53 | 191 | 146 | |
Other consumer purchased impaired | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with no allowance recorded | 50 | 50 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 107 | 107 | 0 | ||
Average balance of impaired loans with no allowance recorded | 50 | 53 | 51 | 91 | |
Interest income recognized on impaired loans with no allowance recorded | 3 | 2 | 11 | 11 | |
Ending balance of impaired loans with allowance recorded | 0 | 0 | 51 | ||
Unpaid principal balance of impaired loans with allowance recorded | 0 | 0 | 123 | ||
Related Allowance | 0 | 0 | 245 | ||
Average balance of impaired loans with allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized on impaired loans with allowance recorded | 0 | 0 | 0 | 0 | |
Other Consumer loan | |||||
Detailed impaired loan information by class | |||||
Ending balance of impaired loans with no allowance recorded | 50 | 50 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 107 | 107 | 0 | ||
Average balance of impaired loans with no allowance recorded | 50 | 53 | 51 | 91 | |
Interest income recognized on impaired loans with no allowance recorded | 3 | 2 | 11 | 11 | |
Ending balance of impaired loans with allowance recorded | 4,720 | 4,720 | 4,139 | ||
Unpaid principal balance of impaired loans with allowance recorded | 4,753 | 4,753 | 4,332 | ||
Related Allowance | 142 | 142 | $ 459 | ||
Average balance of impaired loans with allowance recorded | 4,801 | 3,502 | 4,683 | 2,473 | |
Interest income recognized on impaired loans with allowance recorded | $ 64 | $ 53 | $ 191 | $ 146 |
LOANS _ LEASES AND ALLOWANCE 46
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES (Details 4) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Portion of ALLL ending balance | |||||||
Attributable to loans purchased with deteriorated credit quality | $ 659 | $ 4,099 | |||||
Attributable to loans individually evaluated for impairment | 56,402 | 74,243 | |||||
Attributable to loans collectively evaluated for impairment | 534,877 | 526,854 | |||||
Total ALLL balance, end of period | 591,938 | $ 599,542 | 605,196 | $ 631,036 | $ 635,101 | $ 647,870 | |
Portion of loans and leases ending balance | |||||||
Purchased with deteriorated credit quality | 46,822 | 63,562 | |||||
Individually evaluated for impairment | 1,248,307 | 1,148,978 | |||||
Collectively evaluated for impairment | 48,360,780 | 46,443,186 | |||||
Loans and leases | [1] | 49,655,909 | 47,655,726 | ||||
Commercial and Industrial | |||||||
Portion of ALLL ending balance | |||||||
Attributable to loans purchased with deteriorated credit quality | 547 | 3,846 | |||||
Attributable to loans individually evaluated for impairment | 12,824 | 11,049 | |||||
Attributable to loans collectively evaluated for impairment | 270,958 | 272,100 | |||||
Total ALLL balance, end of period | 284,329 | 285,041 | 286,995 | 291,401 | 278,512 | 265,801 | |
Portion of loans and leases ending balance | |||||||
Purchased with deteriorated credit quality | 19,484 | 23,228 | |||||
Individually evaluated for impairment | 454,648 | 216,993 | |||||
Collectively evaluated for impairment | 19,565,297 | 18,792,925 | |||||
Loans and leases | 20,039,429 | 19,033,146 | |||||
Commercial Real Estate | |||||||
Portion of ALLL ending balance | |||||||
Attributable to loans purchased with deteriorated credit quality | 42 | 0 | |||||
Attributable to loans individually evaluated for impairment | 10,458 | 18,887 | |||||
Attributable to loans collectively evaluated for impairment | 99,467 | 83,952 | |||||
Total ALLL balance, end of period | 109,967 | 92,060 | 102,839 | 115,472 | 137,346 | 162,557 | |
Portion of loans and leases ending balance | |||||||
Purchased with deteriorated credit quality | 25,775 | 38,371 | |||||
Individually evaluated for impairment | 134,397 | 217,262 | |||||
Collectively evaluated for impairment | 5,244,102 | 4,941,770 | |||||
Loans and leases | 5,404,274 | 5,197,403 | |||||
Automobile Loan | |||||||
Portion of ALLL ending balance | |||||||
Attributable to loans purchased with deteriorated credit quality | 0 | 0 | |||||
Attributable to loans individually evaluated for impairment | 1,446 | 1,531 | |||||
Attributable to loans collectively evaluated for impairment | 42,503 | 31,935 | |||||
Total ALLL balance, end of period | 43,949 | 39,102 | 33,466 | 30,732 | 27,158 | 31,053 | |
Portion of loans and leases ending balance | |||||||
Purchased with deteriorated credit quality | 0 | 0 | |||||
Individually evaluated for impairment | 29,938 | 30,612 | |||||
Collectively evaluated for impairment | 9,130,303 | 8,659,290 | |||||
Loans and leases | 9,160,241 | 8,689,902 | |||||
Home Equity | |||||||
Portion of ALLL ending balance | |||||||
Attributable to loans purchased with deteriorated credit quality | 0 | 0 | |||||
Attributable to loans individually evaluated for impairment | 21,346 | 26,027 | |||||
Attributable to loans collectively evaluated for impairment | 65,492 | 70,386 | |||||
Total ALLL balance, end of period | 86,838 | 111,178 | 96,413 | 100,375 | 105,943 | 111,131 | |
Portion of loans and leases ending balance | |||||||
Purchased with deteriorated credit quality | 0 | 0 | |||||
Individually evaluated for impairment | 240,886 | 310,446 | |||||
Collectively evaluated for impairment | 8,220,103 | 8,180,469 | |||||
Loans and leases | 8,460,989 | 8,490,915 | |||||
Residential Mortgage | |||||||
Portion of ALLL ending balance | |||||||
Attributable to loans purchased with deteriorated credit quality | 70 | 8 | |||||
Attributable to loans individually evaluated for impairment | 10,186 | 16,535 | |||||
Attributable to loans collectively evaluated for impairment | 32,538 | 30,668 | |||||
Total ALLL balance, end of period | 42,794 | 51,679 | 47,211 | 52,658 | 47,191 | 39,577 | |
Portion of loans and leases ending balance | |||||||
Purchased with deteriorated credit quality | 1,513 | 1,912 | |||||
Individually evaluated for impairment | 383,718 | 369,577 | |||||
Collectively evaluated for impairment | 5,686,125 | 5,459,120 | |||||
Loans and leases | 6,071,356 | 5,830,609 | |||||
Other Consumer loan | |||||||
Portion of ALLL ending balance | |||||||
Attributable to loans purchased with deteriorated credit quality | 0 | 245 | |||||
Attributable to loans individually evaluated for impairment | 142 | 214 | |||||
Attributable to loans collectively evaluated for impairment | 23,919 | 37,813 | |||||
Total ALLL balance, end of period | 24,061 | $ 20,482 | 38,272 | $ 40,398 | $ 38,951 | $ 37,751 | |
Portion of loans and leases ending balance | |||||||
Purchased with deteriorated credit quality | 50 | 51 | |||||
Individually evaluated for impairment | 4,720 | 4,088 | |||||
Collectively evaluated for impairment | 514,850 | 409,612 | |||||
Loans and leases | $ 519,620 | $ 413,751 | |||||
[1] | (1)Amounts represent loans for which Huntington has elected the fair value option. |
LOANS _ LEASES AND ALLOWANCE 47
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES (Textuals) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2015USD ($) | Sep. 30, 2015USD ($)securitization | Dec. 31, 2014USD ($) | |
Loans and Leases (Textuals) | |||
Loans net premium | $ 246,600 | $ 246,600 | $ 230,200 |
Amount of security for borrowing and advances | 17,200,000 | $ 17,200,000 | |
Number of days considered past due | 30 days | ||
All loans with an outstanding balance which evaluated on quarterly basis for impairment | 1,000 | ||
Amount guaranteed by U.S. Government | $ 50,643 | $ 50,643 | $ 55,012 |
Redefault status number of days | 90 days | 90 days | |
Number of months defined for subsequent redefault | 12 months | ||
Number of securitizations | securitization | 2 | ||
Commercial and Industrial | |||
Loans and Leases (Textuals) | |||
Amount of security for borrowing and advances | $ 200,000 | $ 200,000 | |
Loans charged off or written down past due | 90 days | ||
Home equity secured by junior-lien | |||
Loans and Leases (Textuals) | |||
Loans charged off or written down past due | 120 days | ||
Nonaccrual status number of days past due | 120 days | ||
Residential Mortgage | |||
Loans and Leases (Textuals) | |||
Loans charged off or written down past due | 150 days | ||
Nonaccrual status number of days past due | 150 days |
LOANS _ LEASES AND ALLOWANCE 48
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES (TDR 1) (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015USD ($)contract | Sep. 30, 2014USD ($)contract | Sep. 30, 2015USD ($)contract | Sep. 30, 2014USD ($)contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 4 | 17 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 111,000 | $ 647,000 | ||
Financial effects of modification | $ 3,000 | $ 33,000 | ||
Number of redefaulted contracts, actual | contract | 72 | 93 | 218 | 293 |
Ending balance of redefaulted TDRs | $ 6,716,000 | $ 7,632,000 | $ 24,941,000 | $ 21,321,000 |
Interest Rate Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 1 | 1 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 96,000 | $ 0 | ||
Financial effects of modification | $ 3,000 | $ 0 | ||
Amortization Or Maturity Date Change | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 1 | 14 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,000 | $ 642,000 | ||
Financial effects of modification | $ 0 | $ 33,000 | ||
Chapter 7 Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 2 | 2 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 13,000 | $ 5,000 | ||
Financial effects of modification | $ 0 | $ 0 | ||
Other Concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 0 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 | ||
Financial effects of modification | $ 0 | $ 0 | ||
Commercial and industrial owner occupied | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 60 | 30 | 167 | 86 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 29,433,000 | $ 12,013,000 | $ 77,248,000 | $ 23,946,000 |
Financial effects of modification | $ 303,000 | $ 132,000 | $ (1,830,000) | $ 56,000 |
Number of redefaulted contracts, actual | contract | 2 | 2 | 5 | 5 |
Ending balance of redefaulted TDRs | $ 328,000 | $ 388,000 | $ 900,000 | $ 1,018,000 |
Commercial and industrial owner occupied | Interest Rate Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 2 | 3 | 17 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 360,000 | $ 235,000 | $ 2,141,000 |
Financial effects of modification | $ 0 | $ 0 | $ (2,000) | $ 21,000 |
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial and industrial owner occupied | Amortization Or Maturity Date Change | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 60 | 27 | 161 | 64 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 29,433,000 | $ 11,562,000 | $ 76,400,000 | $ 19,899,000 |
Financial effects of modification | $ 303,000 | $ 132,000 | $ (1,799,000) | $ 70,000 |
Number of redefaulted contracts, actual | contract | 2 | 2 | 5 | 4 |
Ending balance of redefaulted TDRs | $ 328,000 | $ 388,000 | $ 900,000 | $ 788,000 |
Commercial and industrial owner occupied | Other Concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 1 | 3 | 5 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 91,000 | $ 613,000 | $ 1,906,000 |
Financial effects of modification | $ 0 | $ 0 | $ (29,000) | $ (35,000) |
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 1 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 230,000 |
Other commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 161 | 86 | 442 | 224 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 105,350,000 | $ 40,711,000 | $ 370,522,000 | $ 146,242,000 |
Financial effects of modification | $ 4,520,000 | $ (222,000) | $ (76,505,000) | $ (1,855,000) |
Number of redefaulted contracts, actual | contract | 11 | 3 | 22 | 10 |
Ending balance of redefaulted TDRs | $ 964,000 | $ 88,000 | $ 2,677,000 | $ 1,132,000 |
Other commercial and industrial | Interest Rate Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | 2 | 2 | 7 | 21 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 89,000 | $ 4,076,000 | $ 524,000 | $ 49,557,000 |
Financial effects of modification | $ (7,000) | $ (14,000) | $ 3,000 | $ (1,936,000) |
Number of redefaulted contracts, actual | contract | 0 | 0 | 1 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 27,000 | $ 0 |
Other commercial and industrial | Amortization Or Maturity Date Change | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 157 | 78 | 427 | 187 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 104,923,000 | $ 35,952,000 | $ 341,148,000 | $ 89,331,000 |
Financial effects of modification | $ 4,523,000 | $ (202,000) | $ (76,078,000) | $ 156,000 |
Number of redefaulted contracts, actual | contract | 11 | 3 | 21 | 10 |
Ending balance of redefaulted TDRs | $ 964,000 | $ 88,000 | $ 2,650,000 | $ 1,132,000 |
Other commercial and industrial | Other Concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 2 | 6 | 8 | 16 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 338,000 | $ 683,000 | $ 28,850,000 | $ 7,354,000 |
Financial effects of modification | $ 4,000 | $ (6,000) | $ (430,000) | $ (75,000) |
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial real estate retail properties | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 8 | 8 | 21 | 30 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 4,360,000 | $ 2,121,000 | $ 16,990,000 | $ 49,141,000 |
Financial effects of modification | $ (125,000) | $ (5,000) | $ (1,669,000) | $ 200,000 |
Number of redefaulted contracts, actual | contract | 0 | 0 | 2 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 6,529,000 | $ 0 |
Commercial real estate retail properties | Interest Rate Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 1 | 1 | 4 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 124,000 | $ 1,657,000 | $ 11,229,000 |
Financial effects of modification | $ 0 | $ (1,000) | $ (11,000) | $ 420,000 |
Number of redefaulted contracts, actual | contract | 0 | 0 | 1 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 47,000 | $ 0 |
Commercial real estate retail properties | Amortization Or Maturity Date Change | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 8 | 7 | 20 | 17 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 4,360,000 | $ 1,997,000 | $ 15,333,000 | $ 24,147,000 |
Financial effects of modification | $ (125,000) | $ (4,000) | $ (1,658,000) | $ (185,000) |
Number of redefaulted contracts, actual | contract | 0 | 0 | 1 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 6,482,000 | $ 0 |
Commercial real estate retail properties | Other Concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 0 | 0 | 9 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 13,765,000 |
Financial effects of modification | $ 0 | $ 0 | $ 0 | $ (35,000) |
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial real estate Multi family | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 6 | 21 | 45 | 47 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,296,000 | $ 8,938,000 | $ 11,838,000 | $ 14,358,000 |
Financial effects of modification | $ 320,000 | $ (82,000) | $ 285,000 | $ (23,000) |
Number of redefaulted contracts, actual | contract | 3 | 1 | 11 | 2 |
Ending balance of redefaulted TDRs | $ 583,000 | $ 138,000 | $ 1,494,000 | $ 350,000 |
Commercial real estate Multi family | Interest Rate Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 9 | 1 | 20 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 2,744,000 | $ 90,000 | $ 3,484,000 |
Financial effects of modification | $ 0 | $ (75,000) | $ 0 | $ (75,000) |
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | |
Commercial real estate Multi family | Amortization Or Maturity Date Change | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 6 | 9 | 36 | 20 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,296,000 | $ 5,724,000 | $ 11,532,000 | $ 6,104,000 |
Financial effects of modification | $ 320,000 | $ (3,000) | $ 291,000 | $ (5,000) |
Number of redefaulted contracts, actual | contract | 2 | 1 | 10 | 2 |
Ending balance of redefaulted TDRs | $ 443,000 | $ 138,000 | $ 1,354,000 | $ 350,000 |
Commercial real estate Multi family | Other Concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 3 | 8 | 7 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 470,000 | $ 216,000 | $ 4,770,000 |
Financial effects of modification | $ 0 | $ (4,000) | $ (6,000) | $ 57,000 |
Number of redefaulted contracts, actual | contract | 1 | 0 | 1 | 0 |
Ending balance of redefaulted TDRs | $ 140,000 | $ 0 | $ 140,000 | $ 0 |
Commercial real estate office | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 8 | 7 | 21 | 23 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 26,615,000 | $ 13,139,000 | $ 57,718,000 | $ 47,387,000 |
Financial effects of modification | $ 184,000 | $ 321,000 | $ 255,000 | $ (3,521,000) |
Number of redefaulted contracts, actual | contract | 1 | 0 | 3 | 1 |
Ending balance of redefaulted TDRs | $ 1,596,000 | $ 0 | $ 2,984,000 | $ 493,000 |
Commercial real estate office | Interest Rate Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 1 | 0 | 1 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 356,000 | $ 0 | $ 356,000 | $ 120,000 |
Financial effects of modification | $ 6,000 | $ 0 | $ 7,000 | $ (1,000) |
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial real estate office | Amortization Or Maturity Date Change | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 7 | 6 | 19 | 16 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 26,259,000 | $ 2,575,000 | $ 57,332,000 | $ 11,791,000 |
Financial effects of modification | $ 178,000 | $ (7,000) | $ 250,000 | $ (367,000) |
Number of redefaulted contracts, actual | contract | 1 | 0 | 3 | 1 |
Ending balance of redefaulted TDRs | $ 1,596,000 | $ 0 | $ 2,984,000 | $ 493,000 |
Commercial real estate office | Other Concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 1 | 1 | 5 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 10,564,000 | $ 30,000 | $ 35,476,000 |
Financial effects of modification | $ 0 | $ 328,000 | $ (2,000) | $ (3,153,000) |
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial real estate Industrial and warehouse | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 4 | 9 | 9 | 17 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,692,000 | $ 3,610,000 | $ 5,078,000 | $ 12,189,000 |
Financial effects of modification | $ (30,000) | $ (45,000) | $ 61,000 | $ 167,000 |
Number of redefaulted contracts, actual | contract | 0 | 1 | 0 | 1 |
Ending balance of redefaulted TDRs | $ 0 | $ 1,339,000 | $ 0 | $ 1,339,000 |
Commercial real estate Industrial and warehouse | Interest Rate Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 0 | 0 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 4,046,000 |
Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Number of redefaulted contracts, actual | contract | 0 | 1 | 0 | 1 |
Ending balance of redefaulted TDRs | $ 0 | $ 1,339,000 | $ 0 | $ 1,339,000 |
Commercial real estate Industrial and warehouse | Amortization Or Maturity Date Change | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 4 | 9 | 9 | 14 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,692,000 | $ 3,610,000 | $ 5,078,000 | $ 7,166,000 |
Financial effects of modification | $ (30,000) | $ (45,000) | $ 61,000 | $ 167,000 |
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial real estate Industrial and warehouse | Other Concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 0 | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 977,000 |
Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Other commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 5 | 6 | 24 | 57 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 934,000 | $ 1,967,000 | $ 8,899,000 | $ 80,917,000 |
Financial effects of modification | $ 40,000 | $ 89,000 | $ 44,000 | $ (2,636,000) |
Number of redefaulted contracts, actual | contract | 1 | 1 | 1 | 2 |
Ending balance of redefaulted TDRs | $ 93,000 | $ 197,000 | $ 93,000 | $ 758,000 |
Other commercial real estate | Interest Rate Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 3 | 0 | 8 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 205,000 | $ 0 | $ 5,224,000 |
Financial effects of modification | $ 0 | $ 95,000 | $ 0 | $ 146,000 |
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Other commercial real estate | Amortization Or Maturity Date Change | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 5 | 3 | 22 | 47 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 934,000 | $ 1,762,000 | $ 8,665,000 | $ 74,767,000 |
Financial effects of modification | $ 40,000 | $ (6,000) | $ 66,000 | $ (2,781,000) |
Number of redefaulted contracts, actual | contract | 1 | 1 | 1 | 2 |
Ending balance of redefaulted TDRs | $ 93,000 | $ 197,000 | $ 93,000 | $ 758,000 |
Other commercial real estate | Other Concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 0 | 2 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 | $ 234,000 | $ 926,000 |
Financial effects of modification | $ 0 | $ 0 | $ (22,000) | $ (1,000) |
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Automobile Loan | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 737 | 553 | 1,864 | 2,088 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 6,036,000 | $ 4,150,000 | $ 13,923,000 | $ 14,176,000 |
Financial effects of modification | $ 241,000 | $ 70,000 | $ 658,000 | $ 64,000 |
Number of redefaulted contracts, actual | contract | 14 | 18 | 41 | 81 |
Ending balance of redefaulted TDRs | $ 109,000 | $ 175,000 | $ 435,000 | $ 588,000 |
Automobile Loan | Interest Rate Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 5 | 7 | 30 | 55 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 6,000 | $ 199,000 | $ 48,000 | $ 627,000 |
Financial effects of modification | $ 0 | $ 2,000 | $ 2,000 | $ 10,000 |
Number of redefaulted contracts, actual | contract | 0 | 0 | 1 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 4,000 | $ 0 |
Automobile Loan | Amortization Or Maturity Date Change | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 401 | 381 | 1,213 | 1,550 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 3,445,000 | $ 2,531,000 | $ 8,929,000 | $ 9,758,000 |
Financial effects of modification | $ 157,000 | $ 34,000 | $ 411,000 | $ 61,000 |
Number of redefaulted contracts, actual | contract | 12 | 13 | 24 | 39 |
Ending balance of redefaulted TDRs | $ 99,000 | $ 144,000 | $ 298,000 | $ 326,000 |
Automobile Loan | Chapter 7 Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 331 | 165 | 621 | 483 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,585,000 | $ 1,420,000 | $ 4,946,000 | $ 3,791,000 |
Financial effects of modification | $ 84,000 | $ 34,000 | $ 245,000 | $ (7,000) |
Number of redefaulted contracts, actual | contract | 2 | 5 | 16 | 42 |
Ending balance of redefaulted TDRs | $ 10,000 | $ 31,000 | $ 133,000 | $ 262,000 |
Automobile Loan | Other Concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 0 | 0 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Residential Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 304 | 105 | 581 | 457 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 32,381,000 | $ 11,544,000 | $ 64,160,000 | $ 57,869,000 |
Financial effects of modification | $ (146,000) | $ 101,000 | $ (528,000) | $ 1,012,000 |
Number of redefaulted contracts, actual | contract | 24 | 31 | 55 | 101 |
Ending balance of redefaulted TDRs | $ 2,112,000 | $ 3,425,000 | $ 5,163,000 | $ 10,774,000 |
Residential Mortgage | Interest Rate Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 3 | 7 | 12 | 22 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 686,000 | $ 633,000 | $ 1,423,000 | $ 2,866,000 |
Financial effects of modification | $ (4,000) | $ 10,000 | $ (60,000) | $ (14,000) |
Number of redefaulted contracts, actual | contract | 2 | 1 | 3 | 4 |
Ending balance of redefaulted TDRs | $ 178,000 | $ 118,000 | $ 239,000 | $ 468,000 |
Residential Mortgage | Amortization Or Maturity Date Change | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 261 | 64 | 454 | 281 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 27,553,000 | $ 7,723,000 | $ 50,827,000 | $ 39,025,000 |
Financial effects of modification | $ (147,000) | $ (37,000) | $ (342,000) | $ 518,000 |
Number of redefaulted contracts, actual | contract | 19 | 20 | 45 | 64 |
Ending balance of redefaulted TDRs | $ 1,624,000 | $ 2,300,000 | $ 4,225,000 | $ 7,354,000 |
Residential Mortgage | Chapter 7 Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 37 | 33 | 106 | 150 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 3,888,000 | $ 3,082,000 | $ 10,948,000 | $ 15,573,000 |
Financial effects of modification | $ 5,000 | $ 128,000 | $ (126,000) | $ 503,000 |
Number of redefaulted contracts, actual | contract | 3 | 10 | 7 | 33 |
Ending balance of redefaulted TDRs | $ 310,000 | $ 1,007,000 | $ 699,000 | $ 2,952,000 |
Residential Mortgage | Other Concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 3 | 1 | 9 | 4 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 254,000 | $ 106,000 | $ 962,000 | $ 405,000 |
Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 5,000 |
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Home equity secured by first-lien other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 108 | 122 | 291 | 395 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 7,951,000 | $ 10,236,000 | $ 23,428,000 | $ 31,788,000 |
Financial effects of modification | $ (12,000) | $ (170,000) | $ (438,000) | $ 203,000 |
Number of redefaulted contracts, actual | contract | 6 | 13 | 34 | 31 |
Ending balance of redefaulted TDRs | $ 497,000 | $ 1,280,000 | $ 2,836,000 | $ 2,973,000 |
Home equity secured by first-lien other | Interest Rate Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 11 | 29 | 32 | 124 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 800,000 | $ 2,730,000 | $ 3,379,000 | $ 10,696,000 |
Financial effects of modification | $ 36,000 | $ 42,000 | $ 104,000 | $ 646,000 |
Number of redefaulted contracts, actual | contract | 3 | 1 | 4 | 3 |
Ending balance of redefaulted TDRs | $ 232,000 | $ 39,000 | $ 387,000 | $ 202,000 |
Home equity secured by first-lien other | Amortization Or Maturity Date Change | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 57 | 69 | 171 | 204 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 4,863,000 | $ 5,518,000 | $ 14,906,000 | $ 16,682,000 |
Financial effects of modification | $ (147,000) | $ (316,000) | $ (775,000) | $ (647,000) |
Number of redefaulted contracts, actual | contract | 0 | 6 | 4 | 14 |
Ending balance of redefaulted TDRs | $ 0 | $ 998,000 | $ 258,000 | $ 1,928,000 |
Home equity secured by first-lien other | Chapter 7 Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 40 | 24 | 88 | 67 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,288,000 | $ 1,988,000 | $ 5,143,000 | $ 4,410,000 |
Financial effects of modification | $ 99,000 | $ 104,000 | $ 233,000 | $ 204,000 |
Number of redefaulted contracts, actual | contract | 3 | 6 | 26 | 14 |
Ending balance of redefaulted TDRs | $ 265,000 | $ 243,000 | $ 2,191,000 | $ 843,000 |
Home equity secured by first-lien other | Other Concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 0 | 0 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Home equity secured by junior-lien | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 432 | 464 | 1,314 | 1,368 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 14,832,000 | $ 17,162,000 | $ 51,190,000 | $ 49,682,000 |
Financial effects of modification | $ (970,000) | $ (1,415,000) | $ (4,255,000) | $ (3,399,000) |
Number of redefaulted contracts, actual | contract | 10 | 23 | 44 | 59 |
Ending balance of redefaulted TDRs | $ 434,000 | $ 602,000 | $ 1,830,000 | $ 1,896,000 |
Home equity secured by junior-lien | Interest Rate Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 7 | 3 | 15 | 171 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 301,000 | $ 320,000 | $ 650,000 | $ 6,142,000 |
Financial effects of modification | $ 24,000 | $ 15,000 | $ 45,000 | $ 185,000 |
Number of redefaulted contracts, actual | contract | 1 | 0 | 3 | 0 |
Ending balance of redefaulted TDRs | $ 214,000 | $ 0 | $ 411,000 | $ 0 |
Home equity secured by junior-lien | Amortization Or Maturity Date Change | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 364 | 412 | 1,130 | 1,045 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 13,979,000 | $ 16,092,000 | $ 48,563,000 | $ 41,177,000 |
Financial effects of modification | $ (2,029,000) | $ (2,140,000) | $ (7,580,000) | $ (5,732,000) |
Number of redefaulted contracts, actual | contract | 7 | 8 | 27 | 22 |
Ending balance of redefaulted TDRs | $ 220,000 | $ 578,000 | $ 1,018,000 | $ 1,276,000 |
Home equity secured by junior-lien | Chapter 7 Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 61 | 49 | 169 | 152 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 552,000 | $ 750,000 | $ 1,977,000 | $ 2,363,000 |
Financial effects of modification | $ 1,035,000 | $ 710,000 | $ 3,280,000 | $ 2,148,000 |
Number of redefaulted contracts, actual | contract | 2 | 15 | 14 | 37 |
Ending balance of redefaulted TDRs | $ 0 | $ 24,000 | $ 401,000 | $ 620,000 |
Home equity secured by junior-lien | Other Concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 0 | 0 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Other Consumer loan | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 15 | 66 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 284,000 | $ 2,223,000 | ||
Financial effects of modification | $ 18,000 | $ (40,000) | ||
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Other Consumer loan | Interest Rate Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 1 | 1 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 96,000 | $ 0 | ||
Financial effects of modification | $ 3,000 | $ 0 | ||
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Other Consumer loan | Amortization Or Maturity Date Change | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 7 | 44 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 130,000 | $ 1,777,000 | ||
Financial effects of modification | $ 6,000 | $ 11,000 | ||
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Other Consumer loan | Chapter 7 Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 7 | 21 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 58,000 | $ 446,000 | ||
Financial effects of modification | $ 9,000 | $ (51,000) | ||
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Other Consumer loan | Other Concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 0 | 0 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 | ||
Financial effects of modification | $ 0 | $ 0 | ||
Number of redefaulted contracts, actual | contract | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Total Loan Portfolio [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contract | 1,837 | 1,428 | 4,794 | 4,858 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 231,991,000 | $ 126,238,000 | $ 701,278,000 | $ 529,918,000 |
Financial effects of modification | $ 4,328,000 | $ (1,193,000) | $ (83,904,000) | $ (9,772,000) |
AVAILABLE-FOR-SALE AND OTHER 49
AVAILABLE-FOR-SALE AND OTHER SECURITIES (Maturities/Unrealized) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | |||||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | $ 2,440 | $ 0 | $ 2,440 | $ 0 | |
Investment maturity date range | |||||
Amortized Cost, Total | 10,981,563 | 10,981,563 | $ 9,359,886 | ||
Non-marketable equity securities, Fair Value | 332,418 | 332,418 | 331,559 | ||
Marketable equity securities, Amortized Cost | 755 | 755 | 536 | ||
Marketable equity securities, fair value | 1,348 | 1,348 | 1,269 | ||
Available-for-sale and other securities | 11,094,868 | 11,094,868 | 9,384,670 | ||
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||||
Amortized Cost, Total | 10,981,563 | 10,981,563 | 9,359,886 | ||
Total investment securities, Unrealized Gross Gains | (174,673) | (117,554) | |||
Total investment securities, Unrealized Gross Losses | (61,368) | (92,770) | |||
Available-for-sale and other securities | 11,094,868 | 11,094,868 | 9,384,670 | ||
Investment securities in unrealized loss position | |||||
Total temporarily impaired securities, less than 12 months, Fair value | 848,079 | 848,079 | 1,437,360 | ||
Total temporarily impaired securities, less than 12 months, Unrealized Losses | (12,877) | (12,949) | |||
Total temporarily impaired securities, over 12 months, Fair Value | 777,645 | 777,645 | 1,063,142 | ||
Total temporarily impaired securities, over 12 months, Unrealized Losses | (48,491) | (79,821) | |||
Total temporarily impaired securities, Fair Value | 1,625,724 | 1,625,724 | 2,500,502 | ||
Available-for-sale Securities, Gross Unrealized Loss | (61,368) | (92,770) | |||
Trust Preferred Securities Total [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | 2,440 | 0 | 2,440 | 0 | |
U.S. Treasury | |||||
Investment maturity date range | |||||
Amortized Cost, Under 1 year | 8,583 | 8,583 | 0 | ||
Fair Value, Under 1 year | 8,585 | 8,585 | 0 | ||
Amortized Cost, 1-5 years | 5,451 | 5,451 | 5,435 | ||
Fair Value, 1-5 years | 5,510 | 5,510 | 5,452 | ||
Amortized Cost, 6-10 years | 0 | 0 | 0 | ||
Fair Value, 6-10 years | 0 | 0 | 0 | ||
Amortized Cost, Over 10 years | 0 | 0 | 0 | ||
Fair Value, Over 10 years | 0 | 0 | 0 | ||
Amortized Cost, Total | 14,034 | 14,034 | 5,435 | ||
Fair Value, Total | 14,095 | 14,095 | 5,452 | ||
Available-for-sale and other securities | 14,095 | 14,095 | |||
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||||
Amortized Cost, Total | 14,034 | 14,034 | 5,435 | ||
Total investment securities, Unrealized Gross Gains | (61) | (17) | |||
Total investment securities, Unrealized Gross Losses | 0 | 0 | |||
Available-for-sale and other securities | 14,095 | 14,095 | |||
Investment securities in unrealized loss position | |||||
Available-for-sale Securities, Gross Unrealized Loss | 0 | 0 | |||
Federal agencies - mortgage backed securities | |||||
Investment maturity date range | |||||
Amortized Cost, Under 1 year | 52,951 | 52,951 | 47,023 | ||
Fair Value, Under 1 year | 53,052 | 53,052 | 47,190 | ||
Amortized Cost, 1-5 years | 125,173 | 125,173 | 216,775 | ||
Fair Value, 1-5 years | 128,473 | 128,473 | 221,078 | ||
Amortized Cost, 6-10 years | 227,466 | 227,466 | 184,576 | ||
Fair Value, 6-10 years | 231,846 | 231,846 | 186,938 | ||
Amortized Cost, Over 10 years | 6,261,562 | 6,261,562 | 4,825,525 | ||
Fair Value, Over 10 years | 6,350,842 | 6,350,842 | 4,867,495 | ||
Amortized Cost, Total | 6,667,152 | 6,667,152 | 5,273,899 | ||
Fair Value, Total | 6,764,213 | 6,764,213 | 5,322,701 | ||
Available-for-sale and other securities | 6,764,213 | 6,764,213 | |||
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||||
Amortized Cost, Total | 6,667,152 | 6,667,152 | 5,273,899 | ||
Total investment securities, Unrealized Gross Gains | (104,044) | (63,906) | |||
Total investment securities, Unrealized Gross Losses | (6,983) | (15,104) | |||
Available-for-sale and other securities | 6,764,213 | 6,764,213 | |||
Investment securities in unrealized loss position | |||||
Total temporarily impaired securities, less than 12 months, Fair value | 417,246 | 417,246 | 501,858 | ||
Total temporarily impaired securities, less than 12 months, Unrealized Losses | (1,087) | (1,909) | |||
Total temporarily impaired securities, over 12 months, Fair Value | 262,384 | 262,384 | 527,280 | ||
Total temporarily impaired securities, over 12 months, Unrealized Losses | (5,896) | (13,195) | |||
Total temporarily impaired securities, Fair Value | 679,630 | 679,630 | 1,029,138 | ||
Available-for-sale Securities, Gross Unrealized Loss | (6,983) | (15,104) | |||
Other Federal Agencies | |||||
Investment maturity date range | |||||
Amortized Cost, Under 1 year | 1,702 | 1,702 | 33,047 | ||
Fair Value, Under 1 year | 1,712 | 1,712 | 33,237 | ||
Amortized Cost, 1-5 years | 8,264 | 8,264 | 9,122 | ||
Fair Value, 1-5 years | 8,672 | 8,672 | 9,575 | ||
Amortized Cost, 6-10 years | 214,184 | 214,184 | 103,530 | ||
Fair Value, 6-10 years | 219,193 | 219,193 | 105,019 | ||
Amortized Cost, Over 10 years | 144,292 | 144,292 | 204,016 | ||
Fair Value, Over 10 years | 146,961 | 146,961 | 203,712 | ||
Amortized Cost, Total | 368,442 | 368,442 | 349,715 | ||
Fair Value, Total | 376,538 | 376,538 | 351,543 | ||
Available-for-sale and other securities | 376,538 | 376,538 | 351,543 | ||
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||||
Amortized Cost, Total | 368,442 | 368,442 | 349,715 | ||
Total investment securities, Unrealized Gross Gains | (8,096) | (2,871) | |||
Total investment securities, Unrealized Gross Losses | 0 | (1,043) | |||
Available-for-sale and other securities | 376,538 | 376,538 | 351,543 | ||
Investment securities in unrealized loss position | |||||
Total temporarily impaired securities, less than 12 months, Fair value | 0 | 0 | 159,708 | ||
Total temporarily impaired securities, less than 12 months, Unrealized Losses | 0 | (1,020) | |||
Total temporarily impaired securities, over 12 months, Fair Value | 0 | 0 | 1,281 | ||
Total temporarily impaired securities, over 12 months, Unrealized Losses | 0 | (23) | |||
Total temporarily impaired securities, Fair Value | 0 | 0 | 160,989 | ||
Available-for-sale Securities, Gross Unrealized Loss | 0 | (1,043) | |||
Total U.S. Government backed agencies | |||||
Investment maturity date range | |||||
Amortized Cost, Total | 7,049,628 | 7,049,628 | 5,629,049 | ||
Fair Value, Total | 7,154,846 | 7,154,846 | 5,679,696 | ||
Available-for-sale and other securities | 7,154,846 | 7,154,846 | 5,679,696 | ||
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||||
Amortized Cost, Total | 7,049,628 | 7,049,628 | 5,629,049 | ||
Total investment securities, Unrealized Gross Gains | (112,201) | (66,794) | |||
Total investment securities, Unrealized Gross Losses | (6,983) | (16,147) | |||
Available-for-sale and other securities | 7,154,846 | 7,154,846 | 5,679,696 | ||
Investment securities in unrealized loss position | |||||
Total temporarily impaired securities, less than 12 months, Fair value | 417,246 | 417,246 | 661,566 | ||
Total temporarily impaired securities, less than 12 months, Unrealized Losses | (1,087) | (2,929) | |||
Total temporarily impaired securities, over 12 months, Fair Value | 262,384 | 262,384 | 528,561 | ||
Total temporarily impaired securities, over 12 months, Unrealized Losses | (5,896) | (13,218) | |||
Total temporarily impaired securities, Fair Value | 679,630 | 679,630 | 1,190,127 | ||
Available-for-sale Securities, Gross Unrealized Loss | (6,983) | (16,147) | |||
Municipal securities | |||||
Investment maturity date range | |||||
Amortized Cost, Under 1 year | 280,971 | 280,971 | 256,399 | ||
Fair Value, Under 1 year | 276,600 | 276,600 | 255,835 | ||
Amortized Cost, 1-5 years | 499,125 | 499,125 | 269,385 | ||
Fair Value, 1-5 years | 501,559 | 501,559 | 274,003 | ||
Amortized Cost, 6-10 years | 987,208 | 987,208 | 938,780 | ||
Fair Value, 6-10 years | 993,630 | 993,630 | 945,954 | ||
Amortized Cost, Over 10 years | 530,386 | 530,386 | 376,747 | ||
Fair Value, Over 10 years | 556,302 | 556,302 | 392,777 | ||
Amortized Cost, Total | 2,297,690 | 2,297,690 | 1,841,311 | ||
Fair Value, Total | 2,328,091 | 2,328,091 | 1,868,569 | ||
Available-for-sale and other securities | 2,328,091 | 2,328,091 | |||
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||||
Amortized Cost, Total | 2,297,690 | 2,297,690 | 1,841,311 | ||
Total investment securities, Unrealized Gross Gains | (49,426) | (37,398) | |||
Total investment securities, Unrealized Gross Losses | (19,025) | (10,140) | |||
Available-for-sale and other securities | 2,328,091 | 2,328,091 | |||
Investment securities in unrealized loss position | |||||
Total temporarily impaired securities, less than 12 months, Fair value | 282,128 | 282,128 | 568,619 | ||
Total temporarily impaired securities, less than 12 months, Unrealized Losses | (11,078) | (9,127) | |||
Total temporarily impaired securities, over 12 months, Fair Value | 243,660 | 243,660 | 96,426 | ||
Total temporarily impaired securities, over 12 months, Unrealized Losses | (7,947) | (1,013) | |||
Total temporarily impaired securities, Fair Value | 525,788 | 525,788 | 665,045 | ||
Available-for-sale Securities, Gross Unrealized Loss | (19,025) | (10,140) | |||
Private label CMO | |||||
Investment maturity date range | |||||
Amortized Cost, Under 1 year | 0 | 0 | 0 | ||
Fair Value, Under 1 year | 0 | 0 | 0 | ||
Amortized Cost, 1-5 years | 0 | 0 | 0 | ||
Fair Value, 1-5 years | 0 | 0 | 0 | ||
Amortized Cost, 6-10 years | 0 | 0 | 1,314 | ||
Fair Value, 6-10 years | 0 | 0 | 1,371 | ||
Amortized Cost, Over 10 years | 0 | 0 | 42,416 | ||
Fair Value, Over 10 years | 0 | 0 | 40,555 | ||
Amortized Cost, Total | 0 | 0 | 43,730 | ||
Fair Value, Total | 0 | 0 | 41,926 | ||
Available-for-sale and other securities | 0 | 0 | |||
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||||
Amortized Cost, Total | 0 | 0 | 43,730 | ||
Total investment securities, Unrealized Gross Gains | 0 | (1,116) | |||
Total investment securities, Unrealized Gross Losses | 0 | (2,920) | |||
Available-for-sale and other securities | 0 | 0 | |||
Investment securities in unrealized loss position | |||||
Total temporarily impaired securities, less than 12 months, Fair value | 0 | 0 | 0 | ||
Total temporarily impaired securities, less than 12 months, Unrealized Losses | 0 | 0 | |||
Total temporarily impaired securities, over 12 months, Fair Value | 0 | 0 | 22,650 | ||
Total temporarily impaired securities, over 12 months, Unrealized Losses | 0 | (2,920) | |||
Total temporarily impaired securities, Fair Value | 0 | 0 | 22,650 | ||
Available-for-sale Securities, Gross Unrealized Loss | 0 | (2,920) | |||
Other Asset Backed Securities | |||||
Investment maturity date range | |||||
Amortized Cost, Under 1 year | 0 | 0 | 0 | ||
Fair Value, Under 1 year | 0 | 0 | 0 | ||
Amortized Cost, 1-5 years | 90,168 | 90,168 | 228,852 | ||
Fair Value, 1-5 years | 90,580 | 90,580 | 229,364 | ||
Amortized Cost, 6-10 years | 128,425 | 128,425 | 144,163 | ||
Fair Value, 6-10 years | 129,530 | 129,530 | 144,193 | ||
Amortized Cost, Over 10 years | 624,998 | 624,998 | 641,984 | ||
Fair Value, Over 10 years | 593,899 | 593,899 | 582,441 | ||
Amortized Cost, Total | 843,591 | 843,591 | 1,014,999 | ||
Fair Value, Total | 814,009 | 814,009 | 955,998 | ||
Available-for-sale and other securities | 814,009 | 814,009 | |||
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||||
Amortized Cost, Total | 843,591 | 843,591 | 1,014,999 | ||
Total investment securities, Unrealized Gross Gains | (4,471) | (2,061) | |||
Total investment securities, Unrealized Gross Losses | (34,053) | (61,062) | |||
Available-for-sale and other securities | 814,009 | 814,009 | |||
Investment securities in unrealized loss position | |||||
Total temporarily impaired securities, less than 12 months, Fair value | 102,467 | 102,467 | 157,613 | ||
Total temporarily impaired securities, less than 12 months, Unrealized Losses | (221) | (641) | |||
Total temporarily impaired securities, over 12 months, Fair Value | 248,239 | 248,239 | 325,691 | ||
Total temporarily impaired securities, over 12 months, Unrealized Losses | (33,832) | (60,421) | |||
Total temporarily impaired securities, Fair Value | 350,706 | 350,706 | 483,304 | ||
Available-for-sale Securities, Gross Unrealized Loss | (34,053) | (61,062) | |||
Corporate debt | |||||
Investment maturity date range | |||||
Amortized Cost, Under 1 year | 20,695 | 20,695 | 18,767 | ||
Fair Value, Under 1 year | 20,746 | 20,746 | 18,953 | ||
Amortized Cost, 1-5 years | 325,773 | 325,773 | 314,773 | ||
Fair Value, 1-5 years | 333,460 | 333,460 | 323,503 | ||
Amortized Cost, 6-10 years | 95,909 | 95,909 | 145,611 | ||
Fair Value, 6-10 years | 94,883 | 94,883 | 143,720 | ||
Amortized Cost, Over 10 years | 0 | 0 | 0 | ||
Fair Value, Over 10 years | 0 | 0 | 0 | ||
Amortized Cost, Total | 442,377 | 442,377 | 479,151 | ||
Fair Value, Total | 449,089 | 449,089 | 486,176 | ||
Available-for-sale and other securities | 449,089 | 449,089 | 486,176 | ||
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||||
Amortized Cost, Total | 442,377 | 442,377 | 479,151 | ||
Total investment securities, Unrealized Gross Gains | (7,983) | (9,442) | |||
Total investment securities, Unrealized Gross Losses | (1,271) | (2,417) | |||
Available-for-sale and other securities | 449,089 | 449,089 | 486,176 | ||
Investment securities in unrealized loss position | |||||
Total temporarily impaired securities, less than 12 months, Fair value | 45,450 | 45,450 | 49,562 | ||
Total temporarily impaired securities, less than 12 months, Unrealized Losses | (469) | (252) | |||
Total temporarily impaired securities, over 12 months, Fair Value | 21,876 | 21,876 | 88,398 | ||
Total temporarily impaired securities, over 12 months, Unrealized Losses | (802) | (2,165) | |||
Total temporarily impaired securities, Fair Value | 67,326 | 67,326 | 137,960 | ||
Available-for-sale Securities, Gross Unrealized Loss | (1,271) | (2,417) | |||
Other Securities | |||||
Investment maturity date range | |||||
Amortized Cost, Under 1 year | 0 | 0 | 250 | ||
Fair Value, Under 1 year | 0 | 0 | 250 | ||
Amortized Cost, 1-5 years | 3,950 | 3,950 | 3,150 | ||
Fair Value, 1-5 years | 3,914 | 3,914 | 3,066 | ||
Amortized Cost, 6-10 years | 0 | 0 | 0 | ||
Fair Value, 6-10 years | 0 | 0 | 0 | ||
Amortized Cost, Over 10 years | 0 | 0 | 0 | ||
Fair Value, Over 10 years | 0 | 0 | 0 | ||
Amortized Cost, Total | 348,277 | 348,277 | 351,646 | ||
Fair Value, Total | 348,833 | 348,833 | 352,305 | ||
Available-for-sale and other securities | 348,833 | 348,833 | 352,305 | ||
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||||
Amortized Cost, Total | 348,277 | 348,277 | 351,646 | ||
Total investment securities, Unrealized Gross Gains | (592) | (743) | |||
Total investment securities, Unrealized Gross Losses | (36) | (84) | |||
Available-for-sale and other securities | 348,833 | 348,833 | 352,305 | ||
Investment securities in unrealized loss position | |||||
Total temporarily impaired securities, less than 12 months, Fair value | 788 | 788 | 0 | ||
Total temporarily impaired securities, less than 12 months, Unrealized Losses | (22) | 0 | |||
Total temporarily impaired securities, over 12 months, Fair Value | 1,486 | 1,486 | 1,416 | ||
Total temporarily impaired securities, over 12 months, Unrealized Losses | (14) | (84) | |||
Total temporarily impaired securities, Fair Value | 2,274 | 2,274 | 1,416 | ||
Available-for-sale Securities, Gross Unrealized Loss | (36) | (84) | |||
Mutual Funds | |||||
Investment maturity date range | |||||
Amortized Cost, Total | 11,154 | 11,154 | 16,151 | ||
Fair Value, Total | 11,153 | 11,153 | 16,161 | ||
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||||
Amortized Cost, Total | 11,154 | 11,154 | $ 16,151 | ||
Debt Securities [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | $ 2,440 | $ 0 | $ 2,440 | $ 0 |
AVAILABLE-FOR-SALE AND OTHER 50
AVAILABLE-FOR-SALE AND OTHER SECURITIES (Realized Gains/Losses) (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Realized securities gains and losses | ||||||||
Gross gains on sales of securities | $ 6,173 | $ 198 | $ 6,256 | $ 17,678 | ||||
Gross (losses) on sales of securities | (5,985) | 0 | (5,986) | (20) | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Other Than Temporary Impairment Credit Losses Recognized In Other Comprehensive Income Loss Credit Losses On Debt Securities Held | 18,368 | 30,869 | 18,368 | 30,869 | $ 30,869 | $ 30,869 | $ 30,869 | $ 30,869 |
Available-for-sale Securities, Gross Realized Gain (Loss) | 188 | 198 | 270 | 17,658 | ||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||||||||
Balance, beginning of period | 2,440 | 0 | 2,440 | 0 | ||||
Reductions from sales/maturities | (14,941) | 0 | (14,941) | 0 | ||||
Additional credit losses | 2,440 | 0 | 2,440 | 0 | ||||
Trust Preferred Securities Total [Member] | ||||||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||||||||
Balance, beginning of period | 2,440 | 0 | 2,440 | 0 | ||||
Debt Securities [Member] | ||||||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||||||||
Balance, beginning of period | $ 2,440 | $ 0 | $ 2,440 | $ 0 |
AVAILABLE-FOR-SALE AND OTHER 51
AVAILABLE-FOR-SALE AND OTHER SECURITIES (Credit Ratings) (Details 2) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Pooled Trust Preferred | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Amortized Cost | $ 133,768 | $ 139,194 |
Fair Value | 101,173 | 82,738 |
Private label CMO | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | $ 0 | $ 41,926 |
AVAILABLE-FOR-SALE AND OTHER 52
AVAILABLE-FOR-SALE AND OTHER SECURITIES (Trust Preferred) (Details 3) $ in Thousands | Mar. 31, 2015USD ($) | Sep. 30, 2015USD ($)issuer | Dec. 31, 2014USD ($) |
Trust Preferred Securities Data [Line Items] | |||
Total investment securities, Unrealized Gross Losses | $ (61,368) | $ (92,770) | |
Business Acquisition [Line Items] | |||
Acquisition date | Mar. 31, 2015 | ||
Goodwill | 676,869 | 522,541 | |
Pooled Trust Preferred | |||
Trust Preferred Securities Data [Line Items] | |||
Par Value | 180,650 | 193,597 | |
Amortized Cost | 133,768 | 139,194 | |
Fair Value | 101,173 | 82,738 | |
Total investment securities, Unrealized Gross Losses | (32,595) | $ (56,456) | |
Pooled Trust Preferred | Alesco II | |||
Trust Preferred Securities Data [Line Items] | |||
Par Value | 41,646 | ||
Amortized Cost | 28,229 | ||
Fair Value | 25,392 | ||
Total investment securities, Unrealized Gross Losses | $ (2,838) | ||
Number of Issuers Currently Performing | issuer | 29 | ||
Number of Issuers Currently Remaining | issuer | 40 | ||
Actual Deferrals and Defaults as Percent of Original Collateral | 5.00% | ||
Expected Defaults as Percent of Remaining Performing Collateral | 7.00% | ||
Excess Subordination | 4.00% | ||
Pooled Trust Preferred | ICONS | |||
Trust Preferred Securities Data [Line Items] | |||
Par Value | $ 19,515 | ||
Amortized Cost | 19,515 | ||
Fair Value | 15,670 | ||
Total investment securities, Unrealized Gross Losses | $ (3,844) | ||
Number of Issuers Currently Performing | issuer | 30 | ||
Number of Issuers Currently Remaining | issuer | 32 | ||
Actual Deferrals and Defaults as Percent of Original Collateral | 7.00% | ||
Expected Defaults as Percent of Remaining Performing Collateral | 16.00% | ||
Excess Subordination | 57.00% | ||
Pooled Trust Preferred | MM Comm III | |||
Trust Preferred Securities Data [Line Items] | |||
Par Value | $ 5,459 | ||
Amortized Cost | 5,216 | ||
Fair Value | 4,341 | ||
Total investment securities, Unrealized Gross Losses | $ (875) | ||
Number of Issuers Currently Performing | issuer | 19 | ||
Number of Issuers Currently Remaining | issuer | 21 | ||
Actual Deferrals and Defaults as Percent of Original Collateral | 5.00% | ||
Expected Defaults as Percent of Remaining Performing Collateral | 6.00% | ||
Excess Subordination | 32.00% | ||
Pooled Trust Preferred | Pre TSL IX | |||
Trust Preferred Securities Data [Line Items] | |||
Par Value | $ 5,000 | ||
Amortized Cost | 3,955 | ||
Fair Value | 3,019 | ||
Total investment securities, Unrealized Gross Losses | $ (936) | ||
Number of Issuers Currently Performing | issuer | 6 | ||
Number of Issuers Currently Remaining | issuer | 9 | ||
Actual Deferrals and Defaults as Percent of Original Collateral | 18.00% | ||
Expected Defaults as Percent of Remaining Performing Collateral | 10.00% | ||
Excess Subordination | 6.00% | ||
Pooled Trust Preferred | Pre TSL XI | |||
Trust Preferred Securities Data [Line Items] | |||
Par Value | $ 25,000 | ||
Amortized Cost | 20,278 | ||
Fair Value | 15,475 | ||
Total investment securities, Unrealized Gross Losses | $ (4,803) | ||
Number of Issuers Currently Performing | issuer | 27 | ||
Number of Issuers Currently Remaining | issuer | 38 | ||
Actual Deferrals and Defaults as Percent of Original Collateral | 16.00% | ||
Expected Defaults as Percent of Remaining Performing Collateral | 9.00% | ||
Excess Subordination | 9.00% | ||
Pooled Trust Preferred | Pre TSL XIII | |||
Trust Preferred Securities Data [Line Items] | |||
Par Value | $ 27,530 | ||
Amortized Cost | 19,869 | ||
Fair Value | 16,840 | ||
Total investment securities, Unrealized Gross Losses | $ (3,028) | ||
Number of Issuers Currently Performing | issuer | 42 | ||
Number of Issuers Currently Remaining | issuer | 55 | ||
Actual Deferrals and Defaults as Percent of Original Collateral | 10.00% | ||
Expected Defaults as Percent of Remaining Performing Collateral | 11.00% | ||
Excess Subordination | 23.00% | ||
Pooled Trust Preferred | Reg Diversified | |||
Trust Preferred Securities Data [Line Items] | |||
Par Value | $ 25,500 | ||
Amortized Cost | 5,706 | ||
Fair Value | 1,765 | ||
Total investment securities, Unrealized Gross Losses | $ (3,942) | ||
Number of Issuers Currently Performing | issuer | 46 | ||
Number of Issuers Currently Remaining | issuer | 56 | ||
Actual Deferrals and Defaults as Percent of Original Collateral | 33.00% | ||
Expected Defaults as Percent of Remaining Performing Collateral | 7.00% | ||
Excess Subordination | 0.00% | ||
Pooled Trust Preferred | Tropic III | |||
Trust Preferred Securities Data [Line Items] | |||
Par Value | $ 31,000 | ||
Amortized Cost | 31,000 | ||
Fair Value | 18,671 | ||
Total investment securities, Unrealized Gross Losses | $ (12,329) | ||
Number of Issuers Currently Performing | issuer | 24 | ||
Number of Issuers Currently Remaining | issuer | 40 | ||
Actual Deferrals and Defaults as Percent of Original Collateral | 20.00% | ||
Expected Defaults as Percent of Remaining Performing Collateral | 8.00% | ||
Excess Subordination | 39.00% | ||
Macquarie Equipment Finance | |||
Business Acquisition [Line Items] | |||
Payments to acquire businesses, gross | $ 457,800 | ||
Total assets acquired as of acquisition date | 1,100,000 | ||
Total liabilities acquired as of acquisition date | 616,600 | ||
Goodwill | $ 155,800 |
AVAILABLE-FOR-SALE AND OTHER 53
AVAILABLE-FOR-SALE AND OTHER SECURITIES (Details Textuals) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross Unrealized Loss | $ 61,368 | $ 92,770 |
Investment Securities (Textuals) | ||
Stock issued by Federal Reserve Banks included in other securities | 175,400 | 174,500 |
Pledged investment securities to secure public and trust deposits, trading account liabilities, US Treasury demand notes and security repurchase agreements | $ 3,700,000 | |
Federal Home Loan Bank of Cincinnati | ||
Investment Securities (Textuals) | ||
Stock issued by the Federal Home Loan Bank included in other securities | $ 157,000 |
HELD-TO-MATURITY SECURITIES (De
HELD-TO-MATURITY SECURITIES (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Contractual maturities of held-to-maturity securities | ||
Held-to-maturity securities, Total | $ 3,157,688 | $ 3,379,905 |
Held-to-maturity Securities, Fair Value | 3,191,907 | 3,382,715 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | ||
Held-to-maturity securities, Total | 3,157,688 | 3,379,905 |
Held-to-maturity Securities, Gross Gain | 43,069 | 26,083 |
Held-to-maturity Securities, Gross Losses | (8,850) | (23,273) |
Held-to-maturity securities, fair value | 3,191,907 | 3,382,715 |
Continuous Unrealized Loss Position | ||
Total Temporarily Impaired Securities, Less Than Twelve Months, Fair Value | 397,364 | 752,484 |
Total Temporarily Impaired Securities Unrealized Losses, Less Than Twelve Months, Fair Value | (1,472) | (6,135) |
Total Temporarily Impaired Securities, Over Twelve Months, Fair Value | 386,480 | 693,757 |
Total Temporarily Impaired Securities, Unrealized Losses Over Twelve Months | (7,378) | (17,138) |
Total Temporarily Impaired Securities, Fair Value | 783,844 | 1,446,241 |
Total Temporarily Impaired Securities, Unrealized Losses | (8,850) | (23,273) |
Federal agencies - mortgage backed securities | ||
Contractual maturities of held-to-maturity securities | ||
Held-to-maturity Securities, Under 1 year | 0 | 0 |
Fair Value, Under 1 year | 0 | 0 |
Held-to-maturity Securities, 1-5 years | 0 | 0 |
Fair Value, 1-5 years | 0 | 0 |
Held-to-maturity Securities, 6-10 years | 24,901 | 24,901 |
Fair Value, 6-10 years | 24,783 | 24,263 |
Held-to-maturity Securities, Over 10 years | 2,769,071 | 3,136,460 |
Fair Value, Over 10 years | 2,799,820 | 3,140,194 |
Held-to-maturity securities, Total | 2,793,972 | 3,161,361 |
Held-to-maturity Securities, Fair Value | 2,824,603 | 3,164,457 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | ||
Held-to-maturity securities, Total | 2,793,972 | 3,161,361 |
Held-to-maturity Securities, Gross Gain | 39,101 | 24,832 |
Held-to-maturity Securities, Gross Losses | (8,470) | (21,736) |
Held-to-maturity securities, fair value | 2,824,603 | 3,164,457 |
Continuous Unrealized Loss Position | ||
Total Temporarily Impaired Securities, Less Than Twelve Months, Fair Value | 286,835 | 707,934 |
Total Temporarily Impaired Securities Unrealized Losses, Less Than Twelve Months, Fair Value | (1,200) | (5,550) |
Total Temporarily Impaired Securities, Over Twelve Months, Fair Value | 372,269 | 622,026 |
Total Temporarily Impaired Securities, Unrealized Losses Over Twelve Months | (7,270) | (16,186) |
Total Temporarily Impaired Securities, Fair Value | 659,104 | 1,329,960 |
Total Temporarily Impaired Securities, Unrealized Losses | (8,470) | (21,736) |
Other Federal Agencies | ||
Contractual maturities of held-to-maturity securities | ||
Held-to-maturity Securities, Under 1 year | 0 | 0 |
Fair Value, Under 1 year | 0 | 0 |
Held-to-maturity Securities, 1-5 years | 0 | 0 |
Fair Value, 1-5 years | 0 | 0 |
Held-to-maturity Securities, 6-10 years | 106,687 | 54,010 |
Fair Value, 6-10 years | 109,015 | 54,843 |
Held-to-maturity Securities, Over 10 years | 249,813 | 156,553 |
Fair Value, Over 10 years | 251,151 | 155,821 |
Held-to-maturity securities, Total | 356,500 | 210,563 |
Held-to-maturity Securities, Fair Value | 360,166 | 210,664 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | ||
Held-to-maturity securities, Total | 356,500 | 210,563 |
Held-to-maturity Securities, Gross Gain | 3,968 | 1,251 |
Held-to-maturity Securities, Gross Losses | (302) | (1,150) |
Held-to-maturity securities, fair value | 360,166 | 210,664 |
Continuous Unrealized Loss Position | ||
Total Temporarily Impaired Securities, Less Than Twelve Months, Fair Value | 110,529 | 36,956 |
Total Temporarily Impaired Securities Unrealized Losses, Less Than Twelve Months, Fair Value | (272) | (198) |
Total Temporarily Impaired Securities, Over Twelve Months, Fair Value | 7,073 | 71,731 |
Total Temporarily Impaired Securities, Unrealized Losses Over Twelve Months | (30) | (952) |
Total Temporarily Impaired Securities, Fair Value | 117,602 | 108,687 |
Total Temporarily Impaired Securities, Unrealized Losses | (302) | (1,150) |
Total U.S. Government backed agencies | ||
Contractual maturities of held-to-maturity securities | ||
Held-to-maturity securities, Total | 3,150,472 | 3,371,924 |
Held-to-maturity Securities, Fair Value | 3,184,769 | 3,375,121 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | ||
Held-to-maturity securities, Total | 3,150,472 | 3,371,924 |
Held-to-maturity Securities, Gross Gain | 43,069 | 26,083 |
Held-to-maturity Securities, Gross Losses | (8,772) | (22,886) |
Held-to-maturity securities, fair value | 3,184,769 | 3,375,121 |
Continuous Unrealized Loss Position | ||
Total Temporarily Impaired Securities, Less Than Twelve Months, Fair Value | 397,364 | 744,890 |
Total Temporarily Impaired Securities Unrealized Losses, Less Than Twelve Months, Fair Value | (1,472) | (5,748) |
Total Temporarily Impaired Securities, Over Twelve Months, Fair Value | 379,342 | 693,757 |
Total Temporarily Impaired Securities, Unrealized Losses Over Twelve Months | (7,300) | (17,138) |
Total Temporarily Impaired Securities, Fair Value | 776,706 | 1,438,647 |
Total Temporarily Impaired Securities, Unrealized Losses | (8,772) | (22,886) |
Municipal securities | ||
Contractual maturities of held-to-maturity securities | ||
Held-to-maturity Securities, Under 1 year | 0 | 0 |
Fair Value, Under 1 year | 0 | 0 |
Held-to-maturity Securities, 1-5 years | 0 | 0 |
Fair Value, 1-5 years | 0 | 0 |
Held-to-maturity Securities, 6-10 years | 0 | 0 |
Fair Value, 6-10 years | 0 | 0 |
Held-to-maturity Securities, Over 10 years | 7,216 | 7,981 |
Fair Value, Over 10 years | 7,138 | 7,594 |
Held-to-maturity securities, Total | 7,216 | 7,981 |
Held-to-maturity Securities, Fair Value | 7,138 | 7,594 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | ||
Held-to-maturity securities, Total | 7,216 | 7,981 |
Held-to-maturity Securities, Gross Gain | 0 | 0 |
Held-to-maturity Securities, Gross Losses | (78) | (387) |
Held-to-maturity securities, fair value | 7,138 | 7,594 |
Continuous Unrealized Loss Position | ||
Total Temporarily Impaired Securities, Less Than Twelve Months, Fair Value | 0 | 7,594 |
Total Temporarily Impaired Securities Unrealized Losses, Less Than Twelve Months, Fair Value | 0 | (387) |
Total Temporarily Impaired Securities, Over Twelve Months, Fair Value | 7,138 | 0 |
Total Temporarily Impaired Securities, Unrealized Losses Over Twelve Months | (78) | 0 |
Total Temporarily Impaired Securities, Fair Value | 7,138 | 7,594 |
Total Temporarily Impaired Securities, Unrealized Losses | $ (78) | $ (387) |
HELD-TO-MATURITY SECURITIES (55
HELD-TO-MATURITY SECURITIES (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Held-to-maturity Securities [Abstract] | ||||
Available For Sale Securities Transferred To Held To Maturity Securities | $ 0 | $ 0 | $ 0 | $ 0 |
Unrealized Net Losses Recognized In Oci At Time Of Transfer Of Available For Sale Securities Transferred To Held To Maturity Securities | $ 0 | $ 0 | $ 0 | $ 0 |
LOAN SALES AND SECURITIZATION56
LOAN SALES AND SECURITIZATIONS (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Jun. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Residential Mortgage | |||||
Summarizes activity relating to loans sold securitized with servicing retained | |||||
Loans sold with servicing retained | $ 920,974 | $ 654,747 | $ 2,490,070 | $ 1,703,056 | |
Pretax gains resulting from above loan sales | 22,529 | 16,781 | 64,103 | 43,853 | |
Summarize the changes in MSRs using the fair value method | |||||
Fair value, beginning of period | 20,681 | 26,747 | 22,786 | 34,236 | |
Change in fair value during the period due to: | |||||
Time decay | (324) | (467) | (996) | (1,848) | |
Payoffs | (651) | (1,343) | (2,465) | (4,869) | |
Changes in valuation inputs or assumptions | (1,641) | 501 | (1,260) | (2,081) | |
Fair value, end of period | $ 18,065 | $ 20,681 | $ 25,438 | $ 18,065 | $ 25,438 |
Residential Mortgage | Fair value method | |||||
Change in fair value during the period due to: | |||||
Weighted-average life (in years) | 4 years 11 months | 5 years 2 months | 4 years 11 months | 5 years 2 months | |
Residential Mortgage | Amortization method | |||||
Change in fair value during the period due to: | |||||
Weighted-average life (in years) | 6 years | 6 years 8 months | 6 years | 6 years 8 months | |
Automobile Loan | |||||
Summarizes activity relating to loans sold securitized with servicing retained | |||||
Loans sold with servicing retained | $ 0 | $ 0 | $ 750,000 | $ 0 | |
Pretax gains resulting from above loan sales | $ 0 | $ 5,300 | $ 0 | $ 5,333 | $ 0 |
Automobile Loan | Amortization method | |||||
Change in fair value during the period due to: | |||||
Weighted-average life (in years) | 3 years 3 months | 2 years 10 months | 3 years 3 months | 2 years 10 months | |
Small Business Association (SBA) Loan | |||||
Summarizes activity relating to loans sold securitized with servicing retained | |||||
Loans sold with servicing retained | $ 49,216 | $ 63,470 | $ 145,150 | $ 149,571 | |
Pretax gains resulting from above loan sales | $ 3,712 | $ 7,432 | $ 11,981 | $ 17,204 | |
Change in fair value during the period due to: | |||||
Weighted-average life (in years) | 3 years 3 months 18 days | 3 years 6 months | 3 years 3 months 18 days | 3 years 6 months |
LOAN SALES AND SECURITIZATION57
LOAN SALES AND SECURITIZATIONS (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2015 | Jun. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Residential Mortgage | ||||||
Summarizes activity relating to loans sold securitized with servicing retained | ||||||
Loans sold with servicing retained | $ 920,974 | $ 654,747 | $ 2,490,070 | $ 1,703,056 | ||
Summarize the changes in servicing rights using the amortization method | ||||||
Carrying value, beginning of year | 143,127 | 133,113 | 132,813 | 128,064 | $ 128,064 | |
New servicing assets created | 9,918 | 7,173 | 26,710 | 17,802 | ||
Servicing assets acquired | 0 | 0 | 0 | 3,505 | ||
Impairment charge/(recovery) | (12,472) | 487 | (7,492) | (1,573) | ||
Amortization and other | (5,106) | (4,311) | (16,564) | (11,336) | ||
Carrying value, end of period | 135,467 | $ 143,127 | 136,462 | 135,467 | 136,462 | 132,813 |
Fair value, end of period | 135,499 | 141,976 | 135,499 | 141,976 | ||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ||||||
Gain Or Loss From Sale Of Automobile Loans In Securitizations | $ 22,529 | $ 16,781 | $ 64,103 | $ 43,853 | ||
Residential Mortgage | Fair value method | ||||||
Summarize the changes in servicing rights using the amortization method | ||||||
Weighted-average life (in years) | 4 years 11 months | 5 years 2 months | 4 years 11 months | 5 years 2 months | ||
Residential Mortgage | Amortization method | ||||||
Summarize the changes in servicing rights using the amortization method | ||||||
Weighted-average life (in years) | 6 years | 6 years 8 months | 6 years | 6 years 8 months | ||
Automobile Loan | ||||||
Summarizes activity relating to loans sold securitized with servicing retained | ||||||
Loans sold with servicing retained | $ 0 | $ 0 | $ 750,000 | $ 0 | ||
Summarize the changes in servicing rights using the amortization method | ||||||
Carrying value, beginning of year | 14,330 | 11,515 | 6,898 | 17,672 | 17,672 | |
New servicing assets created | 0 | 0 | 11,180 | 0 | ||
Amortization and other | (2,990) | (2,476) | (6,738) | (8,633) | ||
Carrying value, end of period | 11,340 | 14,330 | 9,039 | 11,340 | 9,039 | 6,898 |
Fair value, end of period | 11,341 | 9,130 | 11,341 | 9,130 | ||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ||||||
Gain Or Loss From Sale Of Automobile Loans In Securitizations | $ 0 | 5,300 | $ 0 | $ 5,333 | $ 0 | |
Automobile Loan | Amortization method | ||||||
Summarize the changes in servicing rights using the amortization method | ||||||
Weighted-average life (in years) | 3 years 3 months | 2 years 10 months | 3 years 3 months | 2 years 10 months | ||
Small Business Association (SBA) Loan | ||||||
Summarizes activity relating to loans sold securitized with servicing retained | ||||||
Loans sold with servicing retained | $ 49,216 | $ 63,470 | $ 145,150 | $ 149,571 | ||
Summarize the changes in servicing rights using the amortization method | ||||||
Carrying value, beginning of year | 18,272 | 17,192 | 18,536 | 16,865 | 16,865 | |
New servicing assets created | 1,684 | 2,181 | 4,980 | 5,042 | ||
Amortization and other | (1,594) | (1,458) | (5,154) | (3,992) | ||
Carrying value, end of period | 18,362 | $ 18,272 | 17,915 | 18,362 | 17,915 | $ 18,536 |
Fair value, end of period | $ 20,906 | $ 17,915 | $ 20,906 | $ 17,915 | ||
Weighted-average life (in years) | 3 years 3 months 18 days | 3 years 6 months | 3 years 3 months 18 days | 3 years 6 months | ||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ||||||
Gain Or Loss From Sale Of Automobile Loans In Securitizations | $ 3,712 | $ 7,432 | $ 11,981 | $ 17,204 |
LOAN SALES AND SECURITIZATION58
LOAN SALES AND SECURITIZATIONS (Details Textuals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2015 | Jun. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Loans sales and securitizations (Textuals) [Abstract] | |||||||||
Total of automobile loans transferred in securitization transactions | $ 800,000 | $ 1,000,000 | $ 1,300,000 | $ 1,000,000 | |||||
Residential Mortgage | |||||||||
Loans sales and securitizations (Textuals) [Abstract] | |||||||||
Servicing income | $ 4,700 | $ 4,700 | $ 12,300 | $ 16,500 | |||||
Pretax gains resulting from above loan sales | 22,529 | 16,781 | 64,103 | 43,853 | |||||
Unpaid principal balance of third party serviced loans | 15,900,000 | 15,900,000 | $ 15,600,000 | ||||||
Automobile Loan | |||||||||
Loans sales and securitizations (Textuals) [Abstract] | |||||||||
Servicing income | 1,500 | 1,900 | 4,300 | 6,000 | |||||
Pretax gains resulting from above loan sales | 0 | 5,300 | 0 | 5,333 | 0 | ||||
Unpaid principal balance of third party serviced loans | 1,000,000 | 1,000,000 | 800,000 | ||||||
Automobile Loan | 2015-1 Automobile Trust | |||||||||
Loans sales and securitizations (Textuals) [Abstract] | |||||||||
Net proceeds received a loan securitization or sale transaction | 780,100 | ||||||||
Total servicing assets recorded resulting from securitizations and sales during the current year | 11,200 | ||||||||
Total of automobile loans transferred in securitization transactions | $ 750,000 | ||||||||
Small Business Association (SBA) Loan | |||||||||
Loans sales and securitizations (Textuals) [Abstract] | |||||||||
Servicing income | 2,100 | 1,900 | 6,200 | 5,400 | |||||
Pretax gains resulting from above loan sales | 3,712 | $ 7,432 | 11,981 | $ 17,204 | |||||
Unpaid principal balance of third party serviced loans | $ 964,200 | $ 964,200 | $ 898,000 |
GOODWILL AND OTHER INTANGIBLE59
GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Goodwill by business segment | |||
Balance, beginning of period | $ 522,541 | ||
Goodwill acquired during the period | 155,828 | ||
Adjustments | 1,500 | ||
Impairment | 0 | $ 3,000 | |
Balance, end of period | 676,869 | ||
Summary of other intangible assets | |||
Total other intangible assets, gross carrying amount | 541,342 | $ 533,142 | |
Total other intangible assets, accumulated amortization | (482,549) | (458,471) | |
Total other intangible assets, net of carrying value | 58,793 | 74,671 | |
Estimated amortization expense of other intangible assets | |||
2,015 | 3,786 | ||
2,016 | 14,316 | ||
2,017 | 12,908 | ||
2,018 | 11,135 | ||
2,019 | 9,825 | ||
2,020 | 3,076 | ||
Retail & Business Banking | |||
Goodwill by business segment | |||
Balance, beginning of period | 368,097 | ||
Goodwill acquired during the period | 0 | ||
Adjustments | 0 | ||
Impairment | 0 | ||
Balance, end of period | 368,097 | ||
Commercial Banking | |||
Goodwill by business segment | |||
Balance, beginning of period | 59,594 | ||
Goodwill acquired during the period | 155,828 | ||
Adjustments | 0 | ||
Impairment | 0 | ||
Balance, end of period | 215,422 | ||
AFCRE | |||
Goodwill by business segment | |||
Balance, beginning of period | 0 | ||
Goodwill acquired during the period | 0 | ||
Adjustments | 0 | ||
Impairment | 0 | ||
Balance, end of period | 0 | ||
RBPCG | |||
Goodwill by business segment | |||
Balance, beginning of period | 90,012 | ||
Goodwill acquired during the period | 0 | ||
Adjustments | 1,500 | ||
Impairment | 0 | ||
Balance, end of period | 88,512 | ||
Home Lending | |||
Goodwill by business segment | |||
Balance, beginning of period | 0 | ||
Goodwill acquired during the period | 0 | ||
Adjustments | 0 | ||
Impairment | 0 | ||
Balance, end of period | 0 | ||
Treasury Other | |||
Goodwill by business segment | |||
Balance, beginning of period | 4,838 | ||
Goodwill acquired during the period | 0 | ||
Adjustments | 0 | ||
Impairment | 0 | ||
Balance, end of period | 4,838 | ||
Core deposit intangible | |||
Summary of other intangible assets | |||
Total other intangible assets, gross carrying amount | 400,058 | 400,058 | |
Total other intangible assets, accumulated amortization | (383,459) | (366,907) | |
Total other intangible assets, net of carrying value | 16,599 | 33,151 | |
Customer relationship | |||
Summary of other intangible assets | |||
Total other intangible assets, gross carrying amount | 116,120 | 107,920 | |
Total other intangible assets, accumulated amortization | (74,025) | (66,534) | |
Total other intangible assets, net of carrying value | 42,095 | 41,386 | |
Other | |||
Summary of other intangible assets | |||
Total other intangible assets, gross carrying amount | 25,164 | 25,164 | |
Total other intangible assets, accumulated amortization | (25,065) | (25,030) | |
Total other intangible assets, net of carrying value | $ 99 | $ 134 |
GOODWILL AND OTHER INTANGIBLE60
GOODWILL AND OTHER INTANGIBLE ASSETS (Details Textuals) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2015USD ($)segments | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Business Acquisition [Line Items] | |||
Number of major business segments | segments | 5 | ||
Goodwill | $ 676,869 | $ 522,541 | |
Other intangible assets | $ 58,793 | $ 74,671 | |
Macquarie Equipment Finance, Inc | |||
Business Acquisition [Line Items] | |||
Goodwill | $ 155,800 | ||
Other intangible assets | $ 8,200 |
LONG-TERM DEBT (Details)
LONG-TERM DEBT (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | ||
Long-term borrowings | $ 6,359,445,000 | $ 4,335,962,000 |
Senior Note Payable Due August 2020 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Face Amount | $ 500,000,000 | |
Debt Instrument, Percent of Value | 99.58% | |
Debt Instrument, Maturity Date | Aug. 20, 2020 | |
Debt Instrument, Interest Rate, Stated Percentage | 2.875% | |
Senior Note Payable Due June 2018 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Face Amount | $ 750,000,000 | |
Debt Instrument, Percent of Value | 99.711% | |
Debt Instrument, Maturity Date | Jun. 30, 2018 | |
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | |
Macquarie Equipment Finance | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | $ 293,400,000 | |
Debt Instrument, Interest Rate, Effective Percentage | 3.20% | |
Macquarie Equipment Finance2 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Effective Percentage | 1.70% | |
Long-term borrowings | $ 254,800,000 | |
Senior Note Payable Due February 2018 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Face Amount | $ 500,000,000 | |
Debt Instrument, Percent of Value | 99.86% | |
Debt Instrument, Maturity Date | Feb. 26, 2018 | |
Debt Instrument, Interest Rate, Effective Percentage | 1.70% | |
Senior Note Payable Due April 2020 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Face Amount | $ 500,000,000 | |
Debt Instrument, Percent of Value | 99.874% | |
Debt Instrument, Maturity Date | Apr. 1, 2020 | |
Debt Instrument, Interest Rate, Stated Percentage | 2.40% |
OTHER COMPREHENSIVE INCOME (Act
OTHER COMPREHENSIVE INCOME (Activity/Rollforward) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Pretax | |||||
Total other comprehensive income (loss), pretax | $ 71,012 | $ (34,285) | $ 127,750 | $ 49,903 | |
Tax (Expense) Benefit | |||||
Total other comprehensive income (loss), tax (expense) benefit | (25,100) | 11,996 | (45,197) | (17,910) | |
After-tax | |||||
Transition obligation | 85 | 2,126 | 12,195 | 7,724 | |
Unrealized net gains (losses) on available-for-sale and other securities arising during the period, net of reclassification for net realized gains | 39,721 | (8,918) | 44,861 | 21,483 | |
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships, after tax | 8,254 | (21,229) | 25,840 | (4,100) | |
Change in pension and post-retirement benefit plan assets and liabilities, after-tax | 2,148 | (5,732) | 343 | (6,886) | |
Other comprehensive income (loss), net of tax | 45,912 | (22,289) | 82,553 | 31,993 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Beginning Balance | (222,292) | (214,009) | $ (214,009) | ||
Period change | 82,553 | 31,993 | |||
OCI before reclassifications | 85,695 | 37,627 | |||
Amounts reclassified from accumulated OCI | (5,634) | ||||
Ending Balance | (139,739) | (182,016) | (139,739) | (182,016) | (222,292) |
Unrealized gains and losses on debt securities | |||||
Pretax | |||||
Non-credit-related impairment losses (recoveries) on debt (equity) securities not expected to be sold, before-tax | 131 | 3,289 | 18,866 | 11,949 | |
Unrealized holding gains (losses) on debt (equity) securities available for sale arising during the period, pretax | 65,398 | (14,000) | 73,782 | 48,682 | |
Less: Reclassification adjustment for net losses (gains) losses included in net income, pretax | (3,732) | 250 | (3,973) | (15,409) | |
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, pretax | 61,797 | (10,461) | 88,675 | 45,222 | |
Tax (Expense) Benefit | |||||
Non-credit-related impairment losses (recoveries) on debt (equity) securities not expected to be sold, tax (expense) benefit | (46) | (1,163) | (6,671) | (4,225) | |
Unrealized holding gains (losses) on debt (equity) securities available for sale arising during the period, tax (expense) benefit | (23,136) | 4,908 | (26,240) | (17,439) | |
Less: Reclassification adjustment for net losses (gains) losses included in net income, tax (expense) benefit | 1,306 | (88) | 1,391 | 5,393 | |
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, tax (expense) benefit | (21,876) | 3,657 | (31,520) | (16,271) | |
After-tax | |||||
Transition obligation | 85 | 2,126 | 12,195 | 7,724 | |
Unrealized holding gains (losses) on debt (equity) securities available for sale arising during the period, after-tax | 42,262 | (9,092) | 47,542 | 31,243 | |
Less: Reclassification adjustment for net losses (gains) losses included in net income, after-tax | (2,426) | 162 | (2,582) | (10,016) | |
Unrealized net gains (losses) on available-for-sale and other securities arising during the period, net of reclassification for net realized gains | 39,921 | (6,804) | 57,155 | 28,951 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Beginning Balance | 15,137 | (39,234) | (39,234) | ||
Period change | 57,155 | 28,951 | |||
OCI before reclassifications | 59,737 | ||||
Amounts reclassified from accumulated OCI | (10,016) | ||||
Ending Balance | 72,292 | (10,283) | 72,292 | (10,283) | 15,137 |
Unrealized gains and losses on equity securities | |||||
Pretax | |||||
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, pretax | (177) | 18 | (152) | 394 | |
Tax (Expense) Benefit | |||||
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, tax (expense) benefit | 62 | (6) | 53 | (138) | |
After-tax | |||||
Unrealized net gains (losses) on available-for-sale and other securities arising during the period, net of reclassification for net realized gains | (115) | 12 | (99) | 256 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Beginning Balance | 484 | 292 | 292 | ||
Period change | (99) | 256 | |||
OCI before reclassifications | (99) | 256 | |||
Amounts reclassified from accumulated OCI | 0 | ||||
Ending Balance | 385 | 548 | 385 | 548 | 484 |
Unrealized gains and losses on cash flow hedging derivatives | |||||
Pretax | |||||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period, pretax | 12,770 | (32,512) | 40,088 | (2,454) | |
Less: Reclassification adjustment for net losses (gains) losses included in net income, pretax | (73) | (148) | (334) | (3,853) | |
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships, pretax | 12,697 | (32,660) | 39,754 | (6,307) | |
Change in pension and post-retirement benefit plan assets and liabilities, pretax | 10,594 | ||||
Tax (Expense) Benefit | |||||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period, tax (expense) benefit | (4,469) | 11,379 | (14,031) | 858 | |
Less: Reclassification adjustment for net losses (gains) losses included in net income, tax (expense) benefit | 26 | 52 | 117 | 1,349 | |
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | (4,443) | 11,431 | (13,914) | 2,207 | |
Change in pension and post-retirement benefit plan assets and liabilities, tax (expense) benefit | (3,708) | ||||
After-tax | |||||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period, after-tax | 8,301 | (21,133) | 26,057 | (1,596) | |
Less: Reclassification adjustment for net losses (gains) losses included in net income, after-tax | (47) | (96) | (217) | (2,504) | |
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships, after tax | 8,254 | (21,229) | 25,840 | (4,100) | |
Change in pension and post-retirement benefit plan assets and liabilities, after-tax | 6,886 | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Beginning Balance | (12,233) | (18,844) | (18,844) | ||
Period change | 25,840 | (4,100) | |||
OCI before reclassifications | 26,057 | (1,596) | |||
Amounts reclassified from accumulated OCI | (2,504) | ||||
Ending Balance | 13,607 | (22,944) | 13,607 | (22,944) | (12,233) |
Accumulated Unrealized Losses for Pension and Other Post-retirement obligations | |||||
Pretax | |||||
Amortization of net actuarial loss and prior service cost included in income, pretax | 8,818 | ||||
Change in pension and post-retirement benefit plan assets and liabilities, pretax | (3,305) | (527) | |||
Tax (Expense) Benefit | |||||
Amortization of net actuarial loss and prior service cost included in income, tax (expense) benefit | (3,086) | ||||
Change in pension and post-retirement benefit plan assets and liabilities, tax (expense) benefit | 1,157 | 184 | |||
After-tax | |||||
Amortization of net actuarial loss and prior service cost included in income, net of tax | 5,732 | ||||
Change in pension and post-retirement benefit plan assets and liabilities, after-tax | (2,148) | (343) | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Beginning Balance | (225,680) | (156,223) | (156,223) | ||
Period change | (343) | 6,886 | |||
OCI before reclassifications | 0 | 0 | |||
Amounts reclassified from accumulated OCI | 6,886 | ||||
Ending Balance | $ (226,023) | $ (149,337) | (226,023) | (149,337) | (225,680) |
Debt Securities | Unrealized gains and losses on debt securities | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
OCI before reclassifications | $ 38,967 | ||||
Reclassification out of Accumulated Other Comprehensive Income | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Amounts reclassified from accumulated OCI | (3,142) | ||||
Other Comprehensive Income (Textual) [Abstract] | |||||
Net unrealized loss on securities transfer | 1,000 | $ 800 | |||
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains and losses on debt securities | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Amounts reclassified from accumulated OCI | (2,582) | ||||
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains and losses on equity securities | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Amounts reclassified from accumulated OCI | 0 | ||||
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains and losses on cash flow hedging derivatives | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Amounts reclassified from accumulated OCI | (217) | ||||
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Unrealized Losses for Pension and Other Post-retirement obligations | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Amounts reclassified from accumulated OCI | $ (343) |
OTHER COMPREHENSIVE INCOME (Rec
OTHER COMPREHENSIVE INCOME (Reclassifications) (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - held-to-maturity securities - taxable | $ 19,811 | $ 21,777 | $ 61,220 | $ 67,711 |
Gain (Loss) on Sale of Securities, Net | 2,628 | 198 | 2,710 | 17,658 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | 2,440 | 0 | 2,440 | 0 |
Interest income - loans and leases | 451,161 | 424,658 | 1,308,339 | 1,248,104 |
Noninterest income - other income | 40,418 | 30,445 | 112,074 | 97,323 |
Transition obligation | 85 | 2,126 | 12,195 | 7,724 |
Income before income taxes | 199,590 | 208,886 | 679,713 | 632,220 |
Provision for income taxes | (47,002) | (53,870) | (165,065) | (163,442) |
Net income applicable to common shares | 144,620 | 147,052 | 490,747 | 444,887 |
Accumulated Net Unrealized Investment Gain (Loss) | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - held-to-maturity securities - taxable | 69 | 138 | 269 | 476 |
Gain (Loss) on Sale of Securities, Net | 6,103 | (388) | 6,144 | 14,933 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | 2,440 | 0 | 2,440 | 0 |
Income before income taxes | 3,732 | (250) | 3,973 | 15,409 |
Provision for income taxes | (1,306) | 88 | (1,391) | (5,393) |
Net income applicable to common shares | 2,426 | (162) | 2,582 | 10,016 |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Income before income taxes | 334 | 3,853 | ||
Provision for income taxes | (117) | (1,349) | ||
Net income applicable to common shares | 217 | 2,504 | ||
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges | Interest Rate Contract | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - loans and leases | 323 | |||
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges | Interest Rate Contract | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - loans and leases | 73 | 148 | 3,935 | |
Noninterest income - other income | 0 | 0 | 11 | (82) |
Income before income taxes | 73 | 148 | ||
Provision for income taxes | (26) | (52) | ||
Net income applicable to common shares | 47 | 96 | ||
Accumulated Defined Benefit Plans Adjustment | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Net actuarial gains (losses) | 3,305 | (8,818) | 527 | (10,594) |
Income before income taxes | 3,305 | (8,818) | 527 | (10,594) |
Provision for income taxes | (1,157) | 3,086 | (184) | 3,708 |
Net income applicable to common shares | $ 2,148 | $ (5,732) | $ 343 | $ (6,886) |
SHAREHOLDERS' EQUITY (Details)
SHAREHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Stockholders' Equity Note [Abstract] | ||||
Purchase of common stock shares | 6.8 | 5.4 | 20.5 | 32.1 |
Purchase of common stock, average price per share (in usd per share) | $ 10.66 | $ 9.70 | $ 10.76 | $ 9.34 |
Stock repurchase program authorized amount | $ 366 | $ 366 |
EARNINGS PER SHARE (Details)
EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Basic earnings per common share: | ||||
Net income | $ 152,588 | $ 155,016 | $ 514,648 | $ 468,778 |
Preferred stock dividends | (7,968) | (7,964) | (23,901) | (23,891) |
Net income available to common shareholders | $ 144,620 | $ 147,052 | $ 490,747 | $ 444,887 |
Average common shares issued and outstanding (in shares) | 800,883 | 816,497 | 805,851 | 820,884 |
Basic earnings per common share (in usd per share) | $ 0.18 | $ 0.18 | $ 0.61 | $ 0.54 |
Diluted earnings per common share: | ||||
Net income applicable to common shares | $ 144,620 | $ 147,052 | $ 490,747 | $ 444,887 |
Dilutive potential common shares: | ||||
Stock options and restricted stock units and awards (in shares) | 11,285 | 11,367 | 11,554 | 11,397 |
Shares held in deferred compensation plans (in shares) | 1,997 | 1,506 | 1,872 | 1,443 |
Other (in shares) | 161 | 253 | 181 | 203 |
Dilutive potential common shares (in shares): | 13,443 | 13,126 | 13,607 | 13,043 |
Total diluted average common shares issued and outstanding (in shares) | 814,326 | 829,623 | 819,458 | 833,927 |
Diluted earnings per common share (in usd per share) | $ 0.18 | $ 0.18 | $ 0.60 | $ 0.53 |
Options outstanding to purchase common stock shares having antidilutive effect | 1,700 | 2,600 | 1,500 | 2,700 |
BENEFIT PLANS (Details Textuals
BENEFIT PLANS (Details Textuals) $ in Millions | 9 Months Ended | |
Sep. 30, 2015USD ($)year | Dec. 31, 2014 | |
Defined Benefit Plan, Information about Plan Assets [Abstract] | ||
Fair value of plan assets, Percentage | 100.00% | 100.00% |
Average duration of plan assets investment in bonds, years | 12 years 4 months 24 days | |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | ||
Match - Base pay contributed to the plan | matches participant contributions, up to the first 4% | |
Base Pay Contributed To Plan Profit Sharing | profit-sharing contribution equal to 1% of eligible participants’ 2014 | |
Profit-sharing contribution | 1.00% | |
Base pay contribution match | 4.00% | |
Pension Benefits | ||
Defined Benefit Plan, Information about Plan Assets [Abstract] | ||
Estimated Life Of Benefit Obligations | 12 years 9 months 18 days | |
Post Retirement Benefits | ||
Benefit Plans (Textuals) [Abstract] | ||
Employees retirement age for health care and life insurance benefits under unfunded defined benefit post-retirement plan | 55 | |
Deferred Compensation Arrangement With Individual Requisite Service Period | 10 years | |
Plan Amendment Measurement Reduction In Liability | $ | $ 5.2 | |
Equity Securities | ||
Defined Benefit Plan, Information about Plan Assets [Abstract] | ||
Defined Benefit Plan, Actual Plan Asset Allocations | 47.00% | |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 20.00% | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 50.00% | |
Covered Bonds | ||
Defined Benefit Plan, Information about Plan Assets [Abstract] | ||
Defined Benefit Plan, Actual Plan Asset Allocations | 52.00% | |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 50.00% | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 80.00% | |
Cash and Cash Equivalents | ||
Defined Benefit Plan, Information about Plan Assets [Abstract] | ||
Defined Benefit Plan, Actual Plan Asset Allocations | 1.00% |
BENEFIT PLANS (Details)
BENEFIT PLANS (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Pension Benefits | ||||
Components of net periodic benefit expense [Abstract] | ||||
Service cost | $ 457 | $ 435 | $ 1,372 | $ 1,305 |
Interest cost | 7,984 | 8,099 | 23,953 | 24,299 |
Expected return on plan assets | (11,044) | (11,446) | (33,131) | (34,338) |
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Amortization of gains (losses) | 1,984 | 1,442 | 5,950 | 4,326 |
Settlements | 2,825 | 2,500 | 8,475 | 7,500 |
Benefit cost | 2,206 | 1,030 | 6,619 | 3,092 |
Change in Benefit Obligation [Roll Forward] | ||||
Service cost | 457 | 435 | 1,372 | 1,305 |
Interest cost | 7,984 | 8,099 | 23,953 | 24,299 |
Post Retirement Benefits | ||||
Components of net periodic benefit expense [Abstract] | ||||
Service cost | 0 | 0 | 0 | 0 |
Interest cost | 142 | 258 | 425 | 776 |
Expected return on plan assets | 0 | 0 | 0 | 0 |
Amortization of prior service cost | (492) | (338) | (1,476) | (1,016) |
Amortization of gains (losses) | (116) | (144) | (348) | (432) |
Settlements | (3,090) | 0 | (3,090) | 0 |
Benefit cost | (3,556) | (224) | (4,489) | (672) |
Change in Benefit Obligation [Roll Forward] | ||||
Service cost | 0 | 0 | 0 | 0 |
Interest cost | $ 142 | $ 258 | $ 425 | $ 776 |
BENEFIT PLANS (Details 1)
BENEFIT PLANS (Details 1) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Summary of plan assets investments | ||
Fair value of plan assets | $ 599,569 | $ 653,013 |
Fair value of plan assets, Percentage | 100.00% | 100.00% |
Huntington funds - money market | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 8,937 | $ 16,136 |
Fair value of plan assets, Percentage | 1.00% | 2.00% |
Corporate Obligations | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 205,806 | $ 218,077 |
Fair value of plan assets, Percentage | 34.00% | 33.00% |
U.S. Government Obligations | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 61,987 | $ 62,627 |
Fair value of plan assets, Percentage | 11.00% | 10.00% |
Mutual funds - fixed income | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 34,123 | $ 34,761 |
Fair value of plan assets, Percentage | 6.00% | 5.00% |
U.S. Government Agencies | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 7,203 | $ 7,445 |
Fair value of plan assets, Percentage | 1.00% | 1.00% |
Mutual Funds - equities | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 134,939 | $ 147,191 |
Fair value of plan assets, Percentage | 23.00% | 23.00% |
Other | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 114,594 | $ 118,970 |
Fair value of plan assets, Percentage | 19.00% | 18.00% |
Huntington funds - equity funds | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 20,243 | $ 37,920 |
Fair value of plan assets, Percentage | 3.00% | 6.00% |
Exchange Traded Funds | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 6,306 | $ 6,840 |
Fair value of plan assets, Percentage | 1.00% | 1.00% |
Limited Partnerships | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 5,431 | $ 3,046 |
Fair value of plan assets, Percentage | 1.00% | 1.00% |
BENEFIT PLANS (Details 2)
BENEFIT PLANS (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Compensation and Retirement Disclosure [Abstract] | ||||
Supplemental Executive Retirement Plan And Supplemental Retirement Income Plan | $ 578 | $ 504 | $ 1,735 | $ 1,467 |
Defined Contribution Plan, Cost Recognized | 8,224 | 8,325 | 23,747 | 23,239 |
Benefit Cost | $ 8,802 | $ 8,829 | $ 25,482 | $ 24,706 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Tax Credit Carryforward [Line Items] | |||||
Provision for income taxes | $ 47,002 | $ 53,870 | $ 165,065 | $ 163,442 | |
Unrecognized tax benefits | 26,100 | 26,100 | $ 1,200 | ||
Total interest accrued on the unrecognized tax benefits | 400 | 400 | $ 200 | ||
Domestic Tax Authority | |||||
Tax Credit Carryforward [Line Items] | |||||
Total deferred tax provision (benefit) | 20,400 | 20,400 | |||
State and Local Jurisdiction | |||||
Tax Credit Carryforward [Line Items] | |||||
Total deferred tax provision (benefit) | $ 41,100 | $ 41,100 |
FAIR VALUES OF ASSETS AND LIA71
FAIR VALUES OF ASSETS AND LIABILITIES (Recurring basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Assets measured at fair value on a recurring basis | ||
Trading account securities | $ 38,609 | $ 42,191 |
Available-for-sale and other securities | 11,094,868 | 9,384,670 |
Derivatives | (77,557) | (101,197) |
Liabilities measured at fair value on a recurring basis | ||
Derivatives | (27,330) | (51,973) |
Recurring Basis | ||
Assets measured at fair value on a recurring basis | ||
Mortgage loans held for sale | 393,473 | 354,888 |
Mortgages Held-to-maturity, Fair Value Disclosure | 34,019 | 40,027 |
Trading account securities | 38,609 | 42,191 |
Available-for-sale and other securities | 10,762,450 | 9,053,111 |
Automobile loans | 2,563 | 10,590 |
MSR's | 18,065 | 22,786 |
Derivatives | 451,584 | 352,642 |
Liabilities measured at fair value on a recurring basis | ||
Derivatives | 289,677 | 284,255 |
Short-term borrowings | 511 | 2,295 |
Recurring Basis | U.S. Treasury | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 14,095 | 5,452 |
Recurring Basis | Federal agencies - mortgage backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 6,764,213 | 5,322,701 |
Recurring Basis | Other Federal Agencies | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 2,857 |
Available-for-sale and other securities | 376,538 | 351,543 |
Recurring Basis | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 5,932 | 5,098 |
Available-for-sale and other securities | 2,328,091 | 1,868,569 |
Recurring Basis | Mortgage-backed Securities, Issued by Private Enterprises | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 41,926 |
Recurring Basis | Asset-backed Securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 814,009 | 955,998 |
Recurring Basis | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 449,089 | 486,176 |
Recurring Basis | Other securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 32,677 | 34,236 |
Available-for-sale and other securities | 16,415 | 20,746 |
Recurring Basis | Level 1 | ||
Assets measured at fair value on a recurring basis | ||
Mortgage loans held for sale | 0 | 0 |
Mortgages Held-to-maturity, Fair Value Disclosure | 0 | 0 |
Trading account securities | 32,500 | 33,121 |
Available-for-sale and other securities | 26,596 | 22,882 |
Automobile loans | 0 | 0 |
MSR's | 0 | 0 |
Derivatives | 0 | 0 |
Liabilities measured at fair value on a recurring basis | ||
Derivatives | 0 | 0 |
Short-term borrowings | 0 | 0 |
Recurring Basis | Level 1 | U.S. Treasury | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 14,095 | 5,452 |
Recurring Basis | Level 1 | Federal agencies - mortgage backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Other Federal Agencies | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Mortgage-backed Securities, Issued by Private Enterprises | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Asset-backed Securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Other securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 32,500 | 33,121 |
Available-for-sale and other securities | 12,501 | 17,430 |
Recurring Basis | Level 2 | ||
Assets measured at fair value on a recurring basis | ||
Mortgage loans held for sale | 393,473 | 354,888 |
Mortgages Held-to-maturity, Fair Value Disclosure | 34,019 | 40,027 |
Trading account securities | 6,109 | 9,070 |
Available-for-sale and other securities | 8,684,126 | 7,499,434 |
Automobile loans | 0 | 0 |
MSR's | 0 | 0 |
Derivatives | 520,802 | 449,775 |
Liabilities measured at fair value on a recurring basis | ||
Derivatives | 316,452 | 335,524 |
Short-term borrowings | 511 | 2,295 |
Recurring Basis | Level 2 | U.S. Treasury | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 2 | Federal agencies - mortgage backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 6,764,213 | 5,322,701 |
Recurring Basis | Level 2 | Other Federal Agencies | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 2,857 |
Available-for-sale and other securities | 376,538 | 351,543 |
Recurring Basis | Level 2 | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 5,932 | 5,098 |
Available-for-sale and other securities | 377,535 | 450,976 |
Recurring Basis | Level 2 | Mortgage-backed Securities, Issued by Private Enterprises | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 11,462 |
Recurring Basis | Level 2 | Asset-backed Securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 712,837 | 873,260 |
Recurring Basis | Level 2 | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 449,089 | 486,176 |
Recurring Basis | Level 2 | Other securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 177 | 1,115 |
Available-for-sale and other securities | 3,914 | 3,316 |
Recurring Basis | Level 3 | ||
Assets measured at fair value on a recurring basis | ||
Mortgage loans held for sale | 0 | 0 |
Mortgages Held-to-maturity, Fair Value Disclosure | 0 | 0 |
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 2,051,728 | 1,530,795 |
Automobile loans | 2,563 | 10,590 |
MSR's | 18,065 | 22,786 |
Derivatives | 8,339 | 4,064 |
Liabilities measured at fair value on a recurring basis | ||
Derivatives | 555 | 704 |
Short-term borrowings | 0 | 0 |
Recurring Basis | Level 3 | U.S. Treasury | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 3 | Federal agencies - mortgage backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 3 | Other Federal Agencies | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 3 | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 1,950,556 | 1,417,593 |
Recurring Basis | Level 3 | Mortgage-backed Securities, Issued by Private Enterprises | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 30,464 |
Recurring Basis | Level 3 | Asset-backed Securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 101,172 | 82,738 |
Recurring Basis | Level 3 | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 3 | Other securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | $ 0 | $ 0 |
FAIR VALUES OF ASSETS AND LIA72
FAIR VALUES OF ASSETS AND LIABILITIES (Level 3 rollforward) (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
MSRs | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers into Level 3 | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 20,681 | 26,747 | 22,786 | 34,236 |
Total gains/losses: | ||||
Included in earnings | (2,616) | (1,309) | (4,721) | (8,798) |
Included in OCI | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Repayments | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Balance, end of period | 18,065 | 25,438 | 18,065 | 25,438 |
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date | (2,616) | (1,309) | (4,721) | (8,798) |
Derivative Instruments | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers into Level 3 | 0 | 0 | 0 | 0 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 5,166 | 6,196 | 3,360 | 2,390 |
Total gains/losses: | ||||
Included in earnings | 3,023 | (1,847) | 6,244 | 2,785 |
Included in OCI | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Repayments | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (405) | (813) | (1,820) | (1,639) |
Balance, end of period | 7,784 | 3,536 | 7,784 | 3,536 |
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date | 3,023 | (1,847) | 6,244 | 2,785 |
Municipal securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers into Level 3 | 0 | 0 | 0 | 0 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 1,716,845 | 1,206,455 | 1,417,593 | 654,537 |
Total gains/losses: | ||||
Included in earnings | 0 | 0 | 0 | 0 |
Included in OCI | 3,514 | 14,344 | 2,199 | 7,555 |
Purchases | 426,501 | 224,615 | 768,529 | 805,893 |
Sales | 0 | 0 | 0 | 0 |
Repayments | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (196,304) | (190,619) | (237,765) | (213,190) |
Balance, end of period | 1,950,556 | 1,254,795 | 1,950,556 | 1,254,795 |
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date | 3,514 | 14,344 | 2,199 | 7,555 |
Private label CMO | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers into Level 3 | 0 | 0 | 0 | 0 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 29,429 | 31,633 | 30,464 | 32,140 |
Total gains/losses: | ||||
Included in earnings | 20 | 8 | 47 | 24 |
Included in OCI | 1,309 | (137) | 1,832 | 364 |
Purchases | 0 | 0 | 0 | 0 |
Sales | (30,077) | 0 | (30,077) | 0 |
Repayments | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (681) | (570) | (2,266) | (1,594) |
Balance, end of period | 0 | 30,934 | 0 | 30,934 |
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date | 0 | (137) | 0 | 364 |
Asset-backed Securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers into Level 3 | 0 | 0 | 0 | 0 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 102,071 | 106,461 | 82,738 | 107,419 |
Total gains/losses: | ||||
Included in earnings | (2,440) | 171 | (2,435) | 38 |
Included in OCI | 1,997 | 5,826 | 23,860 | 20,256 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | (22,870) | 0 | (22,700) |
Repayments | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (456) | (1,004) | (2,991) | (16,429) |
Balance, end of period | 101,172 | 88,584 | 101,172 | 88,584 |
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date | 1,997 | 5,468 | 23,860 | 19,554 |
Automobile Loan | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers into Level 3 | 0 | 0 | 0 | 0 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 3,998 | 25,498 | 10,590 | 52,286 |
Total gains/losses: | ||||
Included in earnings | (142) | (253) | (497) | (705) |
Included in OCI | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Repayments | (1,293) | (8,545) | (7,530) | (34,881) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Balance, end of period | 2,563 | 16,700 | 2,563 | 16,700 |
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date | $ (142) | $ (253) | $ (497) | $ (705) |
FAIR VALUES OF ASSETS AND LIA73
FAIR VALUES OF ASSETS AND LIABILITIES (Level 3 classification of gains/losses) (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
MSRs | ||||
Classification of gains and losses in earnings: | ||||
Mortgage banking income (loss) | $ (2,616) | $ (1,309) | $ (4,721) | $ (8,798) |
Securities gains (losses) | 0 | 0 | 0 | 0 |
Interest and fee income | 0 | 0 | 0 | 0 |
Noninterest income | 0 | 0 | 0 | 0 |
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Earnings | (2,616) | (1,309) | (4,721) | (8,798) |
Derivative Instrument Asset, Net | ||||
Classification of gains and losses in earnings: | ||||
Mortgage banking income (loss) | 3,023 | (1,847) | 6,244 | 2,785 |
Securities gains (losses) | 0 | 0 | 0 | 0 |
Interest and fee income | 0 | 0 | 0 | 0 |
Noninterest income | 0 | 0 | 0 | 0 |
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Earnings | 3,023 | (1,847) | 6,244 | 2,785 |
Municipal securities | ||||
Classification of gains and losses in earnings: | ||||
Mortgage banking income (loss) | 0 | 0 | 0 | 0 |
Securities gains (losses) | 0 | 0 | 0 | 0 |
Interest and fee income | 0 | 0 | 0 | 0 |
Noninterest income | 0 | 0 | 0 | 0 |
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Earnings | 0 | 0 | 0 | 0 |
Private label CMO | ||||
Classification of gains and losses in earnings: | ||||
Mortgage banking income (loss) | 0 | 0 | 0 | 0 |
Securities gains (losses) | 0 | 0 | 0 | 0 |
Interest and fee income | 20 | 8 | 47 | 24 |
Noninterest income | 0 | 0 | 0 | 0 |
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Earnings | 20 | 8 | 47 | 24 |
Asset-backed Securities | ||||
Classification of gains and losses in earnings: | ||||
Mortgage banking income (loss) | 0 | 0 | 0 | 0 |
Securities gains (losses) | (2,440) | 170 | (2,440) | 170 |
Interest and fee income | 0 | 1 | 5 | 38 |
Noninterest income | 0 | 0 | 0 | 0 |
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Earnings | (2,440) | 171 | (2,435) | 208 |
Automobile Loan | ||||
Classification of gains and losses in earnings: | ||||
Mortgage banking income (loss) | 0 | 0 | 0 | 0 |
Securities gains (losses) | 0 | 0 | 0 | 0 |
Interest and fee income | (142) | (243) | (497) | (819) |
Noninterest income | 0 | (10) | 0 | 114 |
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Earnings | $ (142) | $ (253) | $ (497) | $ (705) |
FAIR VALUES OF ASSETS AND LIA74
FAIR VALUES OF ASSETS AND LIABILITIES (Fair value option) (Details 3) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Mortgages Held For Sale | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Mortgages Held-for-sale, Fair Value Disclosure | $ 393,473 | $ 354,888 |
Mortgages Held For Sale, Unpaid Principal | 377,707 | 340,070 |
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables | 15,766 | 14,818 |
Mortgages Held-to-maturity, Fair Value Disclosure | 34,019 | 40,027 |
Mortgages Held To Maturity Unpaid Principal | 34,774 | 40,938 |
Mortgages Held For Maturity | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables | (755) | (911) |
Automobile Loans | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 2,563 | 10,590 |
Loans Receivable, Unpaid Principal | 2,563 | 10,022 |
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables | $ 0 | $ 568 |
FAIR VALUES OF ASSETS AND LIA75
FAIR VALUES OF ASSETS AND LIABILITIES (Fair value option-changes in fair value) (Details 4) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Mortgages Held For Sale | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ 6,801 | $ 4,562 | $ 1,244 | $ 3,700 |
Automobile Loans | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (142) | (253) | (568) | (706) |
Fair Value, Option, Credit Risk, Gains (Losses) on Assets | $ 37 | $ 323 | $ 108 | $ 861 |
FAIR VALUES OF ASSETS AND LIA76
FAIR VALUES OF ASSETS AND LIABILITIES (Non-recurring/fair values of financial instruments) (Details 5) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | |
Financial Assets: | |||
Trading account securities | $ 38,609 | $ 38,609 | $ 42,191 |
Loans held for sale (includes $393,473 and $354,888 respectively, measured at fair value) (1) | 675,636 | 675,636 | 416,327 |
Available-for-sale and other securities | 11,094,868 | 11,094,868 | 9,384,670 |
Held-to-maturity securities, Total | 3,157,688 | 3,157,688 | 3,379,905 |
Net loans and direct financing leases | 49,063,971 | 49,063,971 | 47,050,530 |
Derivatives | (77,557) | (77,557) | (101,197) |
Financial Liabilities: | |||
Deposits | 54,244,711 | 54,244,711 | 51,732,151 |
Short-term borrowings | 1,453,812 | 1,453,812 | 2,397,101 |
Long-term borrowings | 6,359,445 | 6,359,445 | 4,335,962 |
Derivatives | (27,330) | (27,330) | (51,973) |
Nonrecurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
MSR Fair Value Disclosure | 133,812 | 133,812 | |
Gain Losses MSRs | (7,492) | ||
Assets measured at fair value on a nonrecurring basis | |||
Fair value, Impaired loans | 52,837 | 52,837 | 52,911 |
Gain/(Losses), Impaired loans | (6,964) | ||
Fair value, Accrued income and other assets | 24,910 | 24,910 | 35,039 |
Gain/(Losses), Accrued income and other assets | 3,619 | ||
Nonrecurring Basis | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
MSR Fair Value Disclosure | 0 | 0 | |
Assets measured at fair value on a nonrecurring basis | |||
Fair value, Impaired loans | 0 | 0 | |
Fair value, Accrued income and other assets | 0 | 0 | |
Nonrecurring Basis | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
MSR Fair Value Disclosure | 0 | 0 | |
Assets measured at fair value on a nonrecurring basis | |||
Fair value, Impaired loans | 0 | 0 | |
Fair value, Accrued income and other assets | 0 | 0 | |
Nonrecurring Basis | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
MSR Fair Value Disclosure | 133,812 | 133,812 | |
Gain Losses MSRs | (12,472) | ||
Assets measured at fair value on a nonrecurring basis | |||
Fair value, Impaired loans | 52,837 | 52,837 | |
Gain/(Losses), Impaired loans | (2,614) | ||
Fair value, Accrued income and other assets | 24,910 | 24,910 | |
Gain/(Losses), Accrued income and other assets | 356 | ||
Carrying Amount | |||
Financial Assets: | |||
Cash and short-term assets | 1,090,163 | 1,090,163 | 1,285,124 |
Trading account securities | 38,609 | 38,609 | 42,191 |
Loans held for sale (includes $393,473 and $354,888 respectively, measured at fair value) (1) | 675,636 | 675,636 | 416,327 |
Available-for-sale and other securities | 11,094,868 | 11,094,868 | 9,384,670 |
Held-to-maturity securities, Total | 3,157,688 | 3,157,688 | 3,379,905 |
Net loans and direct financing leases | 49,063,971 | 49,063,971 | 47,050,530 |
Derivatives | 451,584 | 451,584 | 352,642 |
Financial Liabilities: | |||
Deposits | 54,244,711 | 54,244,711 | 51,732,151 |
Short-term borrowings | 1,453,812 | 1,453,812 | 2,397,101 |
Long-term borrowings | 6,359,445 | 6,359,445 | 4,335,962 |
Derivatives | 289,677 | 289,677 | 284,255 |
Fair Value | |||
Financial Assets: | |||
Cash and short-term assets | 1,090,163 | 1,090,163 | 1,285,124 |
Trading account securities | 38,609 | 38,609 | 42,191 |
Loans held for sale (includes $393,473 and $354,888 respectively, measured at fair value) (1) | 675,636 | 675,636 | 416,327 |
Available-for-sale and other securities | 11,094,868 | 11,094,868 | 9,384,670 |
Held-to-maturity securities, Total | 3,191,907 | 3,191,907 | 3,382,715 |
Net loans and direct financing leases | 47,374,526 | 47,374,526 | 45,110,406 |
Derivatives | 451,584 | 451,584 | 352,642 |
Financial Liabilities: | |||
Deposits | 54,831,170 | 54,831,170 | 52,454,804 |
Short-term borrowings | 1,453,812 | 1,453,812 | 2,397,101 |
Long-term borrowings | 6,265,129 | 6,265,129 | 4,286,304 |
Derivatives | 289,677 | 289,677 | 284,255 |
Fair Value | Level 1 | |||
Financial Assets: | |||
Held-to-maturity securities, Total | 0 | 0 | 0 |
Net loans and direct financing leases | 0 | 0 | 0 |
Financial Liabilities: | |||
Deposits | 0 | 0 | 0 |
Short-term borrowings | 0 | 0 | 0 |
Long-term borrowings | 0 | 0 | 0 |
Fair Value | Level 2 | |||
Financial Assets: | |||
Held-to-maturity securities, Total | 3,191,907 | 3,191,907 | 3,382,715 |
Net loans and direct financing leases | 0 | 0 | 0 |
Financial Liabilities: | |||
Deposits | 51,244,015 | 51,244,015 | 48,183,798 |
Short-term borrowings | 0 | 0 | 0 |
Long-term borrowings | 0 | 0 | 0 |
Fair Value | Level 3 | |||
Financial Assets: | |||
Held-to-maturity securities, Total | 0 | 0 | 0 |
Net loans and direct financing leases | 47,374,526 | 47,374,526 | 45,110,406 |
Financial Liabilities: | |||
Deposits | 3,587,155 | 3,587,155 | 4,271,006 |
Short-term borrowings | 1,453,812 | 1,453,812 | 2,397,101 |
Long-term borrowings | 6,265,129 | 6,265,129 | 4,286,304 |
Fair Value | Total Estimated Fair Value | |||
Financial Assets: | |||
Held-to-maturity securities, Total | 3,191,907 | 3,191,907 | 3,382,715 |
Net loans and direct financing leases | 47,374,526 | 47,374,526 | 45,110,406 |
Financial Liabilities: | |||
Deposits | 54,831,170 | 54,831,170 | 52,454,804 |
Short-term borrowings | 1,453,812 | 1,453,812 | 2,397,101 |
Long-term borrowings | $ 6,265,129 | $ 6,265,129 | $ 4,286,304 |
FAIR VALUES OF ASSETS AND LIA77
FAIR VALUES OF ASSETS AND LIABILITIES (Significant unobservable Level 3 inputs) (Details 6) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Assets measured at fair value on a recurring basis | ||
Derivatives | $ (27,330) | $ (51,973) |
Available-for-sale and other securities | 11,094,868 | 9,384,670 |
Liabilities measured at fair value on a recurring basis | ||
Derivative Assets | $ (77,557) | $ (101,197) |
MSRs | Maximum | Cost Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 24.00% | 26.00% |
Spread over forward interest rate swap rates | 1,166,000 | 900,000 |
MSRs | Minimum | Cost Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 6.00% | 7.00% |
Spread over forward interest rate swap rates | 325,000 | 228,000 |
MSRs | Weighted Average | Cost Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 14.00% | 16.00% |
Spread over forward interest rate swap rates | 599,000 | 546,000 |
Derivative Instruments | Maximum | Market Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Net market price | 19.40% | 17.50% |
Estimated pull thru % | 90.00% | 91.00% |
Derivative Instruments | Minimum | Market Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Net market price | (3.60%) | (5.10%) |
Estimated pull thru % | 50.00% | 38.00% |
Derivative Instruments | Weighted Average | Market Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Net market price | 2.10% | 1.70% |
Estimated pull thru % | 76.00% | 75.00% |
Municipal securities | Maximum | Cost Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Discount rate | 4.70% | 4.90% |
Municipal securities | Minimum | Cost Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Discount rate | 0.30% | 0.50% |
Municipal securities | Weighted Average | Cost Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Discount rate | 2.60% | 2.50% |
Private label CMO | Maximum | Cost Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 0.00% | 32.60% |
Probability of default | 0.00% | 4.00% |
Loss severity | 0.00% | 64.00% |
Discount rate | 0.00% | 7.20% |
Private label CMO | Minimum | Cost Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 0.00% | 13.60% |
Probability of default | 0.00% | 0.10% |
Loss severity | 0.00% | 0.00% |
Discount rate | 0.00% | 2.70% |
Private label CMO | Weighted Average | Cost Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 0.00% | 20.70% |
Probability of default | 0.00% | 0.70% |
Loss severity | 0.00% | 33.90% |
Discount rate | 0.00% | 6.00% |
Asset-backed Securities | Maximum | Cost Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Discount rate | 11.30% | 13.30% |
Cumulative prepayment rate | 100.00% | 100.00% |
Cumulative default | 100.00% | 100.00% |
Loss given default | 100.00% | 100.00% |
Cure given deferral | 75.00% | 75.00% |
Asset-backed Securities | Minimum | Cost Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Discount rate | 4.30% | 4.30% |
Cumulative prepayment rate | 0.00% | 0.00% |
Cumulative default | 1.70% | 1.90% |
Loss given default | 85.00% | 20.00% |
Cure given deferral | 0.00% | 0.00% |
Asset-backed Securities | Weighted Average | Cost Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Discount rate | 5.80% | 7.30% |
Cumulative prepayment rate | 8.30% | 10.10% |
Cumulative default | 11.50% | 15.90% |
Loss given default | 96.40% | 94.40% |
Cure given deferral | 36.60% | 32.60% |
Automobile Loan | Maximum | Cost Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 79.20% | 79.20% |
Discount rate | 5.00% | 5.00% |
Life of pool cumulative losses | 210.00% | 210.00% |
Automobile Loan | Minimum | Cost Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 154.20% | 154.20% |
Discount rate | 0.20% | 0.20% |
Life of pool cumulative losses | 2.10% | 2.10% |
Automobile Loan | Weighted Average | Cost Approach Valuation Technique | Level 3 | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 154.20% | 154.20% |
Discount rate | 2.30% | 2.30% |
Life of pool cumulative losses | 2.10% | 2.10% |
Fair Value, Measurements, Recurring | ||
Assets measured at fair value on a recurring basis | ||
MSR's | $ 18,065 | $ 22,786 |
Derivatives | 289,677 | 284,255 |
Available-for-sale and other securities | 10,762,450 | 9,053,111 |
Automobile loans | 2,563 | 10,590 |
Liabilities measured at fair value on a recurring basis | ||
Derivative Assets | 451,584 | 352,642 |
Fair Value, Measurements, Recurring | Level 3 | ||
Assets measured at fair value on a recurring basis | ||
MSR's | 18,065 | 22,786 |
Derivatives | 555 | 704 |
Available-for-sale and other securities | 2,051,728 | 1,530,795 |
Automobile loans | 2,563 | 10,590 |
Liabilities measured at fair value on a recurring basis | ||
Derivative Assets | 8,339 | 4,064 |
Fair Value, Measurements, Recurring | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 2,328,091 | 1,868,569 |
Fair Value, Measurements, Recurring | Municipal securities | Level 3 | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 1,950,556 | 1,417,593 |
Fair Value, Measurements, Recurring | Private label CMO | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 41,926 |
Fair Value, Measurements, Recurring | Private label CMO | Level 3 | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 30,464 |
Fair Value, Measurements, Recurring | Asset-backed Securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 814,009 | 955,998 |
Fair Value, Measurements, Recurring | Asset-backed Securities | Level 3 | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 101,172 | 82,738 |
Fair Value, Measurements, Nonrecurring | ||
Liabilities measured at fair value on a recurring basis | ||
Impaired loans Fair Value Disclosure | 52,837 | 52,911 |
Accrued income and other assets Fair Value Disclosure | 24,910 | $ 35,039 |
Fair Value, Measurements, Nonrecurring | Level 3 | ||
Liabilities measured at fair value on a recurring basis | ||
Impaired loans Fair Value Disclosure | 52,837 | |
Accrued income and other assets Fair Value Disclosure | $ 24,910 |
DERIVATIVE FINANCIAL INSTRUME78
DERIVATIVE FINANCIAL INSTRUMENTS (Asset and liability management) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | $ 14,127,100 | $ 600,000 |
Cash Flow Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 9,048,000 | |
Fair Value Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 5,079,100 | |
Loan | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 9,048,000 | |
Loan | Cash Flow Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 9,048,000 | |
Loan | Fair Value Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 0 | |
Deposits | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 69,100 | |
Deposits | Cash Flow Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 0 | |
Deposits | Fair Value Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 69,100 | |
Subordinated notes | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 475,000 | |
Subordinated notes | Cash Flow Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 0 | |
Subordinated notes | Fair Value Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 475,000 | |
Other long-term debt | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 4,535,000 | |
Other long-term debt | Cash Flow Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 0 | |
Other long-term debt | Fair Value Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | $ 4,535,000 |
DERIVATIVE FINANCIAL INSTRUME79
DERIVATIVE FINANCIAL INSTRUMENTS (Asset and liability management) (Details Add Info) $ in Thousands | Sep. 30, 2015USD ($)year | Dec. 31, 2014USD ($) |
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 14,127,100 | $ 600,000 |
Additional information about the interest rate swaps used in companies Asset and Liability Management | ||
Notional Amount Of Interest Rate Derivatives | $ 14,127,100 | |
Average Maturity (years) | year | 1.8 | |
Fair Value | $ 131,097 | |
Weighted-Average Rate Receive | 1.10% | |
Weighted-Average Rate Pay | 0.30% | |
Asset conversion swaps - Receive Fixed - Generic | ||
Additional information about the interest rate swaps used in companies Asset and Liability Management | ||
Notional Amount Of Interest Rate Derivatives | $ 9,048,000 | |
Average Maturity (years) | year | 1.2 | |
Fair Value | $ 23,912 | |
Weighted-Average Rate Receive | 0.81% | |
Weighted-Average Rate Pay | 0.28% | |
Liability conversion swaps - Receive Fixed - Generic | ||
Additional information about the interest rate swaps used in companies Asset and Liability Management | ||
Notional Amount Of Interest Rate Derivatives | $ 5,079,100 | |
Average Maturity (years) | year | 2.9 | |
Fair Value | $ 107,185 | |
Weighted-Average Rate Receive | 1.61% | |
Weighted-Average Rate Pay | 0.32% | |
Fair Value Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 5,079,100 | |
Cash Flow Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 9,048,000 | |
Loan | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 9,048,000 | |
Loan | Fair Value Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 0 | |
Loan | Cash Flow Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 9,048,000 | |
Deposits | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 69,100 | |
Deposits | Fair Value Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 69,100 | |
Deposits | Cash Flow Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 0 | |
Subordinated notes | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 475,000 | |
Subordinated notes | Fair Value Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 475,000 | |
Subordinated notes | Cash Flow Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 0 | |
Other long term debt | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 4,535,000 | |
Other long term debt | Fair Value Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 4,535,000 | |
Other long term debt | Cash Flow Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 0 |
DERIVATIVE FINANCIAL INSTRUME80
DERIVATIVE FINANCIAL INSTRUMENTS (Hedging instruments) (Details 1) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Accrued income and other assets | ||
Asset derivatives included in accrued income and other assets | ||
Interest rate contracts designated as hedging instruments | $ 131,097 | $ 53,114 |
Interest rate contracts not designated as hedging instruments | 240,229 | 183,610 |
Foreign exchange contracts not designated as hedging instruments | 41,033 | 32,798 |
Commodities contracts not designated as hedging instruments | 108,409 | 180,218 |
Total contracts | 520,768 | 449,740 |
Accrued expenses and other liabilities | ||
Liability derivatives included in accrued expenses and other liabilities | ||
Interest rate contracts designated as hedging instruments | 0 | 12,648 |
Interest rate contracts not designated as hedging instruments | 167,854 | 110,627 |
Foreign exchange contracts not designated as hedging instruments | 37,919 | 29,754 |
Commodities contracts not designated as hedging instruments | 105,634 | 179,180 |
Total contracts | $ 311,407 | $ 332,209 |
DERIVATIVE FINANCIAL INSTRUME81
DERIVATIVE FINANCIAL INSTRUMENTS (Cash flow hedges) (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Cash Flow Hedging | ||||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | ||||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | $ 8,301 | $ (21,133) | $ 26,057 | $ (1,596) |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | 73 | 148 | 334 | 3,853 |
Hedged Other long term debt | Interest expense subordinated notes and other long term debt | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | (36,283) | 12,924 | (48,546) | 9,450 |
Hedged Subordinated notes | Interest expense subordinated notes and other long term debt | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | (5,328) | 6,601 | (1,196) | 2,520 |
Hedged Deposits | Interest expense deposits | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | 259 | 315 | 709 | 809 |
Loans | Interest and fee income loans and leases | Cash Flow Hedging | ||||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | ||||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | 8,301 | (21,133) | 26,057 | (1,596) |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | 73 | 148 | 323 | 3,853 |
Investment securities | Interest and fee income investment securities | Cash Flow Hedging | ||||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | ||||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | 0 | 0 | 0 | 0 |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | 0 | 0 | 11 | 0 |
Deposits | Interest expense deposits | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | (265) | (323) | (723) | (829) |
Subordinated notes | Interest expense subordinated notes and other long term debt | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | 5,328 | (6,601) | 1,196 | (2,520) |
Other long-term debt | Interest expense subordinated notes and other long term debt | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | $ 37,272 | $ (13,196) | $ 49,168 | $ (6,943) |
DERIVATIVE FINANCIAL INSTRUME82
DERIVATIVE FINANCIAL INSTRUMENTS (Fair value hedges) (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Loan | ||||
Gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as fair value and cash flow hedges | ||||
Gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as cash flow hedges | $ 888 | $ 224 | $ 858 | $ 195 |
DERIVATIVE FINANCIAL INSTRUME83
DERIVATIVE FINANCIAL INSTRUMENTS (BS Offsetting) (Details 4) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Derivative Assets [Abstract] | ||
Derivative Assets | $ (77,557) | $ (101,197) |
Derivative Liability [Abstract] | ||
Derivative Liabilities | (27,330) | (51,973) |
Deriviative Contract | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral [Abstract] | ||
Cash collateral received | (3,983) | (1,095) |
Derivative Assets [Abstract] | ||
Gross amounts offset in the statement of financial position | (79,204) | (128,161) |
Gross amounts not offset in the statement of financial position - financial instruments | (42,289) | (27,744) |
Derivative Assets | 405,312 | 323,803 |
Derivative Asset, Fair Value, Net [Abstract] | ||
Gross amounts of recognized assets | 530,788 | 480,803 |
Net amounts of assets presented in the statement of financial position | 451,584 | 352,642 |
Derivative Liability, Fair Value, Amount Offset Against Collateral [Abstract] | ||
Cash collateral given | (377) | (111) |
Derivative Liability [Abstract] | ||
Gross amounts offset in the statement of financial position | (28,976) | (78,937) |
Gross amounts not offset in the statement of financial position - financial instruments | (71,556) | (78,654) |
Derivative Liabilities | 217,744 | 205,490 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral [Abstract] | ||
Gross amounts of recognized liabilities | 318,653 | 363,192 |
Net amounts of assets presented in the statement of financial position | $ 289,677 | $ 284,255 |
DERIVATIVE FINANCIAL INSTRUME84
DERIVATIVE FINANCIAL INSTRUMENTS (Mortgage banking activities) (Details 6) - Derivative used in Mortgage Banking Activities - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Derivative assets: | ||
Total derivative assets | $ 8,373 | $ 4,099 |
Derivative liabilities: | ||
Total derivative liabilities | (5,600) | (4,019) |
Net derivative asset (liability) | 2,773 | 80 |
Interest rate lock agreements | ||
Derivative assets: | ||
Total derivative assets | 8,339 | 4,064 |
Derivative liabilities: | ||
Total derivative liabilities | (110) | (259) |
Forward trades and options | ||
Derivative assets: | ||
Total derivative assets | 34 | 35 |
Derivative liabilities: | ||
Total derivative liabilities | $ (5,490) | $ (3,760) |
DERIVATIVE FINANCIAL INSTRUME85
DERIVATIVE FINANCIAL INSTRUMENTS (Details Textuals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Derivative [Line Items] | |||||
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | $ 15,600 | $ 15,600 | |||
Derivative Financial Instruments (Textuals) [Abstract] | |||||
Purchase of interest rate caps and derivative financial instruments, notional value | 14,127,100 | 14,127,100 | $ 600,000 | ||
Total notional amount corresponds to trading assets, fair value | 2,900 | 2,900 | |||
Credit risks from interest rate swaps used for trading purposes | 272,000 | 272,000 | 219,300 | ||
Additional Derivative Financial Instruments (Textuals) [Abstract] | |||||
Aggregate credit risk, net of collateral | 15,900 | 15,900 | 19,500 | ||
Investment securities and cash collateral pledged by Huntington | 99,200 | 99,200 | |||
Investment securities and cash collateral pledged to Huntington | 123,800 | 123,800 | |||
Increase (decrease) to net interest income due to derivative adjustment | 28,300 | $ 24,200 | 79,200 | $ 73,400 | |
Swap | |||||
Derivative Financial Instruments (Textuals) [Abstract] | |||||
Total derivative liabilities | 400 | 400 | |||
Derivative used in trading activity | |||||
Derivative Financial Instruments (Textuals) [Abstract] | |||||
Net derivative asset (liability) | 75,800 | 75,800 | 74,400 | ||
Derivative financial instruments used by Huntington on behalf of customers including offsetting derivatives, notional value | 14,700,000 | 14,700,000 | 14,400,000 | ||
Derivative used in Mortgage Banking Activities | |||||
Derivative Financial Instruments (Textuals) [Abstract] | |||||
Net derivative asset (liability) | 2,773 | 2,773 | 80 | ||
Purchase of interest rate caps and derivative financial instruments, notional value | 500,000 | 500,000 | |||
Gains (losses) related to derivative instruments Included in total MSR | 5,700 | $ (200) | 1,900 | $ 3,800 | |
Total derivative liabilities | 5,600 | 5,600 | 4,019 | ||
Other Credit Derivatives | |||||
Derivative Financial Instruments (Textuals) [Abstract] | |||||
Derivative Asset, Notional Amount | $ 397,400 | $ 397,400 | $ 456,700 |
DERIVATIVE FINANCIAL INSTRUME86
DERIVATIVE FINANCIAL INSTRUMENTS DERIVATIVE FINANCIAL INSTRUMENTS (Credit Derivatives) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Credit Derivatives [Line Items] | ||
Credit Risk Derivative Assets, at Fair Value | $ 10.2 | $ 7.2 |
Other Credit Derivatives | ||
Credit Derivatives [Line Items] | ||
Derivative Asset, Notional Amount | $ 397.4 | $ 456.7 |
VIEs (Consolidated and Unconsol
VIEs (Consolidated and Unconsolidated) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2015 | Jun. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2010 | ||
Assets | |||||||||||||
Cash | $ 1,024,358 | $ 1,024,358 | $ 1,220,565 | ||||||||||
Loans and leases | [1] | 49,655,909 | 49,655,909 | 47,655,726 | |||||||||
Allowance for loan and lease losses | (591,938) | $ (599,542) | $ (631,036) | (591,938) | $ (631,036) | (605,196) | $ (635,101) | $ (647,870) | |||||
Net loans and leases | 49,063,971 | 49,063,971 | 47,050,530 | ||||||||||
Accrued income and other assets | 1,984,738 | 1,984,738 | 1,807,208 | ||||||||||
Total assets | 70,210,178 | 70,210,178 | 66,298,010 | ||||||||||
Liabilities | |||||||||||||
Long-term borrowings | 6,359,445 | 6,359,445 | 4,335,962 | ||||||||||
Accrued interest and other liabilities | 1,569,573 | 1,569,573 | 1,504,626 | ||||||||||
Total liabilities | 63,627,541 | 63,627,541 | 59,969,840 | ||||||||||
Equity | |||||||||||||
Total liabilities and shareholders’ equity | $ 70,210,178 | 70,210,178 | 66,298,010 | ||||||||||
Variable Interest Entities (Textuals) [Abstract] | |||||||||||||
Total of automobile loans transferred in securitization transactions | $ 800,000 | $ 1,000,000 | $ 1,300,000 | $ 1,000,000 | |||||||||
Maximum year to defer payment of interest on debenture | not exceeding five years | ||||||||||||
Macquarie Equipment Funding Trust Series 2012A [Member] | |||||||||||||
Assets | |||||||||||||
Cash | $ 0 | 0 | |||||||||||
Loans and leases | 40,968 | 40,968 | |||||||||||
Allowance for loan and lease losses | 0 | 0 | |||||||||||
Net loans and leases | 40,968 | 40,968 | |||||||||||
Accrued income and other assets | 0 | 0 | |||||||||||
Total assets | 40,968 | 40,968 | |||||||||||
Liabilities | |||||||||||||
Long-term borrowings | 34,192 | 34,192 | |||||||||||
Accrued interest and other liabilities | 0 | 0 | |||||||||||
Total liabilities | 34,192 | 34,192 | |||||||||||
Equity | |||||||||||||
Beneficial interest owned by third party | 6,776 | 6,776 | |||||||||||
Total liabilities and shareholders’ equity | 40,968 | 40,968 | |||||||||||
Consolidated Trusts | |||||||||||||
Assets | |||||||||||||
Cash | 0 | 0 | 0 | ||||||||||
Loans and leases | 221,133 | 221,133 | 0 | ||||||||||
Allowance for loan and lease losses | 0 | 0 | 0 | ||||||||||
Net loans and leases | 221,133 | 221,133 | 0 | ||||||||||
Accrued income and other assets | 229 | 229 | 243 | ||||||||||
Total assets | 221,362 | 221,362 | 243 | ||||||||||
Liabilities | |||||||||||||
Long-term borrowings | 183,579 | 183,579 | 0 | ||||||||||
Accrued interest and other liabilities | 229 | 229 | 243 | ||||||||||
Total liabilities | 183,808 | 183,808 | 243 | ||||||||||
Equity | |||||||||||||
Beneficial interest owned by third party | 37,554 | 37,554 | 0 | ||||||||||
Total liabilities and shareholders’ equity | 221,362 | 221,362 | 243 | ||||||||||
Franklin 2009 Trust | |||||||||||||
Assets | |||||||||||||
Cash | 0 | 0 | 0 | ||||||||||
Loans and leases | 0 | 0 | 0 | ||||||||||
Allowance for loan and lease losses | 0 | 0 | 0 | ||||||||||
Net loans and leases | 0 | 0 | 0 | ||||||||||
Accrued income and other assets | 229 | 229 | 243 | ||||||||||
Total assets | 229 | 229 | 243 | ||||||||||
Liabilities | |||||||||||||
Long-term borrowings | 0 | 0 | 0 | ||||||||||
Accrued interest and other liabilities | 229 | 229 | 243 | ||||||||||
Total liabilities | 229 | 229 | 243 | ||||||||||
Equity | |||||||||||||
Beneficial interest owned by third party | 0 | 0 | 0 | ||||||||||
Total liabilities and shareholders’ equity | 229 | 229 | 243 | ||||||||||
Huntington Technology Funding Trust Series 2014A | |||||||||||||
Assets | |||||||||||||
Cash | 0 | 0 | |||||||||||
Loans and leases | 180,165 | 180,165 | |||||||||||
Allowance for loan and lease losses | 0 | 0 | |||||||||||
Net loans and leases | 180,165 | 180,165 | |||||||||||
Accrued income and other assets | 0 | 0 | |||||||||||
Total assets | 180,165 | 180,165 | |||||||||||
Liabilities | |||||||||||||
Long-term borrowings | 149,387 | 149,387 | |||||||||||
Accrued interest and other liabilities | 0 | 0 | |||||||||||
Total liabilities | 149,387 | 149,387 | |||||||||||
Equity | |||||||||||||
Beneficial interest owned by third party | 30,778 | 30,778 | |||||||||||
Total liabilities and shareholders’ equity | 180,165 | 180,165 | |||||||||||
Trust Preferred Securities Total [Member] | |||||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||||
Total assets | 13,919 | 13,919 | 13,919 | ||||||||||
Total liabilities | 317,098 | 317,098 | 317,075 | ||||||||||
Maximum exposure to loss | 0 | 0 | 0 | ||||||||||
2015-1 Automobile Trust | |||||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||||
Total assets | 9,378 | 9,378 | |||||||||||
Total liabilities | 0 | 0 | |||||||||||
Maximum exposure to loss | 9,378 | 9,378 | |||||||||||
2012-2 Automobile Trust | |||||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||||
Total assets | 1,231 | 1,231 | 3,220 | ||||||||||
Total liabilities | 0 | 0 | 0 | ||||||||||
Maximum exposure to loss | 1,231 | 1,231 | 3,220 | ||||||||||
2012-1 Automobile Trust | |||||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||||
Total assets | 445 | 445 | 2,136 | ||||||||||
Total liabilities | 0 | 0 | 0 | ||||||||||
Maximum exposure to loss | 445 | 445 | 2,136 | ||||||||||
2011 Automobile Trust | |||||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||||
Total assets | 0 | 0 | 944 | ||||||||||
Total liabilities | 0 | 0 | 0 | ||||||||||
Maximum exposure to loss | 0 | 0 | 944 | ||||||||||
Tower Hill Securities Inc. | |||||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||||
Total assets | 46,591 | 46,591 | 55,611 | ||||||||||
Total liabilities | 65,000 | 65,000 | 65,000 | ||||||||||
Maximum exposure to loss | 46,591 | 46,591 | 55,611 | ||||||||||
Variable Interest Entities (Textuals) [Abstract] | |||||||||||||
Municipal securities | $ 92,100 | ||||||||||||
Huntington Preferred Capital Inc. Class E Preferred Stock | 86,000 | ||||||||||||
Cash | 6,100 | ||||||||||||
Tower Hill Securities, Inc. Common and Preferred Stock | 184,100 | ||||||||||||
Mandatorily Redeemable Securities issued by Tower Hill Securities Inc. | $ 65,000 | ||||||||||||
Low Income Housing Tax Credit Partnerships | |||||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||||
Total assets | 407,191 | 407,191 | 368,283 | ||||||||||
Total liabilities | 181,788 | 181,788 | 154,861 | ||||||||||
Maximum exposure to loss | 407,191 | 407,191 | 368,283 | ||||||||||
Affortable Housing Tax Credit Investments [Abstract] | |||||||||||||
Affordable housing tax credit investments | 646,215 | 646,215 | 576,381 | ||||||||||
Amortization | (239,024) | (208,098) | |||||||||||
Net affordable housing tax credit investments | 407,191 | 407,191 | 368,283 | ||||||||||
Unfunded commitments | 181,788 | 181,788 | 154,861 | ||||||||||
Tax credits and other tax benefits recognized | 16,412 | 13,370 | 46,592 | 41,430 | |||||||||
Unconsolidated Trusts | |||||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||||
Total assets | 567,500 | 567,500 | 527,513 | ||||||||||
Total liabilities | 591,175 | 591,175 | 557,696 | ||||||||||
Maximum exposure to loss | 553,581 | 553,581 | 513,594 | ||||||||||
Proportional Amortization Method | |||||||||||||
Proportional amortization method | |||||||||||||
Tax Credit Amortization Expense | 10,942 | 9,659 | 33,235 | 28,537 | |||||||||
Equity Method | |||||||||||||
Equity method | |||||||||||||
Tax Credit Investment Losses | (86) | $ 290 | 208 | $ 737 | |||||||||
Other Investments | |||||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||||
Total assets | 88,745 | 88,745 | 83,400 | ||||||||||
Total liabilities | 27,289 | 27,289 | 20,760 | ||||||||||
Maximum exposure to loss | $ 88,745 | $ 88,745 | $ 83,400 | ||||||||||
[1] | (1)Amounts represent loans for which Huntington has elected the fair value option. |
VIEs (Trust preferred Securitie
VIEs (Trust preferred Securities) (Details 1) $ in Thousands | 3 Months Ended |
Sep. 30, 2015USD ($) | |
Summary of Outstanding Trust Preferred Securities | |
Principal amount of subordinated note/ debenture issued to trust | $ 317,098 |
Investment in unconsolidated subsidiary | $ 13,919 |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Variable rate basis | three month LIBOR |
Sky Financial Capital Trust IV | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 1.68% |
Principal amount of subordinated note/ debenture issued to trust | $ 74,320 |
Investment in unconsolidated subsidiary | $ 2,320 |
Sky Financial Capital Trust III | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 1.73% |
Principal amount of subordinated note/ debenture issued to trust | $ 72,165 |
Investment in unconsolidated subsidiary | $ 2,165 |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 1.40% |
Huntington Capital II | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 0.96% |
Principal amount of subordinated note/ debenture issued to trust | $ 54,593 |
Investment in unconsolidated subsidiary | $ 3,093 |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 0.625% |
Huntington Capital I | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 1.00% |
Principal amount of subordinated note/ debenture issued to trust | $ 111,816 |
Investment in unconsolidated subsidiary | $ 6,186 |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 0.70% |
Camco Trust [Member] | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 2.77% |
Principal amount of subordinated note/ debenture issued to trust | $ 4,204 |
Investment in unconsolidated subsidiary | $ 155 |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 1.33% |
COMMITMENTS AND CONTINGENT LI89
COMMITMENTS AND CONTINGENT LIABILITIES (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Commercial | ||
Contract amounts of various commitments to extend credit | ||
Contract amount represents credit risk | $ 11,132,340 | $ 11,181,522 |
Consumer | ||
Contract amounts of various commitments to extend credit | ||
Contract amount represents credit risk | 8,322,665 | 7,579,632 |
Commercial Real Estate | ||
Contract amounts of various commitments to extend credit | ||
Contract amount represents credit risk | 895,028 | 908,112 |
Standby Letters of Credit | ||
Contract amounts of various commitments to extend credit | ||
Contract amount represents credit risk | 490,776 | 497,457 |
Commercial Letters of Credit [Member] | ||
Contract amounts of various commitments to extend credit | ||
Contract amount represents credit risk | $ 33,079 | $ 36,460 |
COMMITMENTS AND CONTINGENT LI90
COMMITMENTS AND CONTINGENT LIABILITIES (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2015 | Sep. 28, 2015 | Dec. 31, 2014 | |
Additional Commitments and Contingent Liabilities (Textuals) [Abstract] | ||||
Maturity period of majority of standby letters of credit | within two years | |||
Carrying amount of deferred revenue associated with guarantees | $ 6,600 | $ 6,600 | $ 4,400 | |
Percentage of Outstanding standby letters of credit collateralized | 81.00% | 81.00% | ||
Maturity period of Commercial letters of credit | no longer than 90 days | |||
Commitments and Contingent Liabilities (Textuals) [Abstract] | ||||
Commitments to sell residential real estate loans | $ 770,100 | $ 770,100 | 545,000 | |
Maturity period of forward contracts relating mortgage banking business | less than one year | |||
Aggregate range of reasonably possible losses current legal proceedings, Min | 0 | $ 0 | ||
Loss Contingency, Range of Possible Loss, Maximum | 80,000 | 80,000 | ||
Bankruptcy trustee alleging for the amount | 70,000 | 70,000 | ||
Preferential transfer alleged by bankruptcy trustee | 1,200 | 1,200 | ||
Fraudulent transfers alleged by Teleservices bankruptcy trustee | 73,000 | 73,000 | ||
Bankruptcy Court recommended judgment amount in Cyberco case, principal | 71,800 | 71,800 | $ 71,800 | |
Bankruptcy Court recommended judgment amount in Cyberco case, interest | 8,800 | 8,800 | ||
Loss Contingency Accrual, Period Increase (Decrease) | 38,200 | |||
Standby Letters of Credit | ||||
Additional Commitments and Contingent Liabilities (Textuals) [Abstract] | ||||
Outstanding standby letters of credit | 490,776 | 490,776 | $ 497,457 | |
Risk Level, Low [Member] | ||||
Additional Commitments and Contingent Liabilities (Textuals) [Abstract] | ||||
Outstanding standby letters of credit | 150,000 | 150,000 | ||
Risk Level, High | ||||
Additional Commitments and Contingent Liabilities (Textuals) [Abstract] | ||||
Outstanding standby letters of credit | 1,000 | 1,000 | ||
Risk Level, Medium | ||||
Additional Commitments and Contingent Liabilities (Textuals) [Abstract] | ||||
Outstanding standby letters of credit | $ 340,000 | $ 340,000 |
SEGMENT REPORTING (Details)
SEGMENT REPORTING (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($)segments | Sep. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Business Segment Financial Information | |||||
Net interest income | $ 495,455 | $ 466,335 | $ 1,453,826 | $ 1,363,889 | |
Provision for credit losses | 22,476 | 24,480 | 63,486 | 78,495 | |
Noninterest income | 253,119 | 247,349 | 766,515 | 745,901 | |
Noninterest expense | 526,508 | 480,318 | 1,477,142 | 1,399,075 | |
Income taxes | 47,002 | 53,870 | 165,065 | 163,442 | |
Net income (loss) | 152,588 | 155,016 | 514,648 | 468,778 | |
Segment Disclosure of Assets and Deposit | |||||
Assets | 70,210,178 | 70,210,178 | $ 66,298,010 | ||
Deposits | 54,244,711 | 54,244,711 | 51,732,151 | ||
Aggregate range of reasonably possible losses current legal proceedings, Max | 80,000 | $ 80,000 | |||
Number of reporting segments | segments | 5 | ||||
Retail & Business Banking | |||||
Business Segment Financial Information | |||||
Net interest income | 260,617 | 230,318 | $ 766,188 | 678,502 | |
Provision for credit losses | (3,889) | 22,528 | 22,664 | 63,962 | |
Noninterest income | 114,856 | 105,868 | 323,552 | 306,364 | |
Noninterest expense | 254,488 | 251,507 | 771,339 | 732,623 | |
Income taxes | 43,706 | 21,753 | 103,508 | 65,898 | |
Net income (loss) | 81,168 | 40,398 | 192,229 | 122,383 | |
Segment Disclosure of Assets and Deposit | |||||
Assets | 15,781,016 | 15,781,016 | 15,146,857 | ||
Deposits | 29,979,237 | 29,979,237 | 29,350,255 | ||
Commercial Banking | |||||
Business Segment Financial Information | |||||
Net interest income | 97,307 | 78,393 | 266,638 | 226,316 | |
Provision for credit losses | 9,359 | 13,635 | 13,167 | 33,681 | |
Noninterest income | 65,803 | 56,486 | 191,039 | 157,107 | |
Noninterest expense | 75,447 | 62,296 | 208,236 | 188,170 | |
Income taxes | 27,406 | 20,632 | 82,696 | 56,550 | |
Net income (loss) | 50,898 | 38,316 | 153,578 | 105,022 | |
Segment Disclosure of Assets and Deposit | |||||
Assets | 16,753,525 | 16,753,525 | 15,043,477 | ||
Deposits | 11,825,996 | 11,825,996 | 11,184,566 | ||
AFCRE | |||||
Business Segment Financial Information | |||||
Net interest income | 95,838 | 96,355 | 286,042 | 282,239 | |
Provision for credit losses | 12,618 | (18,660) | 14,733 | (44,809) | |
Noninterest income | 5,774 | 6,165 | 22,024 | 19,706 | |
Noninterest expense | 38,769 | 39,714 | 112,802 | 116,568 | |
Income taxes | 17,579 | 28,513 | 63,186 | 80,565 | |
Net income (loss) | 32,646 | 52,953 | 117,345 | 149,621 | |
Segment Disclosure of Assets and Deposit | |||||
Assets | 17,329,574 | 17,329,574 | 16,027,910 | ||
Deposits | 1,521,992 | 1,521,992 | 1,377,921 | ||
RBHPCG | |||||
Business Segment Financial Information | |||||
Net interest income | 30,268 | 25,239 | 84,843 | 76,399 | |
Provision for credit losses | 3,550 | 3,179 | 7,791 | 5,353 | |
Noninterest income | 35,811 | 42,097 | 114,198 | 132,080 | |
Noninterest expense | 68,054 | 60,548 | 189,901 | 176,595 | |
Income taxes | (1,934) | 1,263 | 472 | 9,286 | |
Net income (loss) | (3,591) | 2,346 | 877 | 17,245 | |
Segment Disclosure of Assets and Deposit | |||||
Assets | 3,447,385 | 3,447,385 | 3,871,020 | ||
Deposits | 7,377,486 | 7,377,486 | 6,727,892 | ||
Home Lending | |||||
Business Segment Financial Information | |||||
Net interest income | 16,915 | 14,620 | 48,545 | 41,997 | |
Provision for credit losses | 838 | 3,797 | 5,131 | 20,308 | |
Noninterest income | 11,640 | 20,838 | 62,274 | 59,946 | |
Noninterest expense | 40,986 | 33,523 | 118,414 | 101,490 | |
Income taxes | (4,644) | (652) | (4,454) | (6,949) | |
Net income (loss) | (8,625) | (1,210) | (8,272) | (12,906) | |
Segment Disclosure of Assets and Deposit | |||||
Assets | 4,061,686 | 4,061,686 | 3,949,247 | ||
Deposits | 305,068 | 305,068 | 326,841 | ||
Treasury/Other | |||||
Business Segment Financial Information | |||||
Net interest income | (5,490) | 21,410 | 1,570 | 58,436 | |
Provision for credit losses | 0 | 1 | 0 | 0 | |
Noninterest income | 19,235 | 15,895 | 53,428 | 70,698 | |
Noninterest expense | 48,764 | 32,730 | 76,450 | 83,629 | |
Income taxes | (35,111) | (17,639) | (80,343) | (41,908) | |
Net income (loss) | 92 | $ 22,213 | 58,891 | $ 87,413 | |
Segment Disclosure of Assets and Deposit | |||||
Assets | 12,836,992 | 12,836,992 | 12,259,499 | ||
Deposits | $ 3,234,932 | $ 3,234,932 | $ 2,764,676 |
BUSINESS COMBINATIONS BUSINESS
BUSINESS COMBINATIONS BUSINESS COMBINATIONS (Textual) (Details) - USD ($) $ in Thousands | Mar. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Business Acquisition, Date of Acquisition [Abstract] | |||
Acquisition date | Mar. 31, 2015 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract] | |||
Goodwill | $ 676,869 | $ 522,541 | |
Macquarie Equipment Finance | |||
Business Combination, Consideration Transferred [Abstract] | |||
Payments to acquire businesses, gross | $ 457,800 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract] | |||
Goodwill | 155,800 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | |||
Total assets acquired as of acquisition date | 1,100,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | |||
Total liabilities acquired as of acquisition date | $ 616,600 |
Uncategorized Items - hban-2015
Label | Element | Value |
Sensitivity Analysis Amortization Carrying Method [Member] | Automobile Loan [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueDiscountRate | 500.00% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueDiscountRate | 500.00% |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | $ 496 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | 672 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | 305 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | $ 374 |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValuePrepaymentSpeed | 14.62% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValuePrepaymentSpeed | 15.90% |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | $ 4 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | 16 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | 2 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | $ 8 |
Sensitivity Analysis Amortization Carrying Method [Member] | Commercial Loan [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueDiscountRate | 1500.00% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueDiscountRate | 1500.00% |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | $ 419 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | 593 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | 211 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | $ 299 |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValuePrepaymentSpeed | 5.60% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValuePrepaymentSpeed | 7.80% |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | $ 1,102 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | 1,096 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | 563 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | $ 559 |
Sensitivity Analysis Amortization Carrying Method [Member] | Residential Mortgage [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueDiscountRate | 856.00% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueDiscountRate | 971.00% |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | $ 10,164 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | 10,187 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | 5,289 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | $ 5,300 |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValuePrepaymentSpeed | 11.40% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValuePrepaymentSpeed | 11.20% |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | $ 8,403 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | 8,303 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | 4,343 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | $ 4,291 |
Sensitivity Analysis Fair Value Carrying Method [Member] | Residential Mortgage [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueDiscountRate | 546.00% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueDiscountRate | 599.00% |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | $ 2,248 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | 1,688 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | 1,176 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | $ 880 |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValuePrepaymentSpeed | 15.60% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | us-gaap_ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValuePrepaymentSpeed | 14.30% |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | $ 1,355 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | 1,097 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | 699 |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | $ 566 |