Document and Entity Information
Document and Entity Information - Jun. 30, 2015 - shares | Total |
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 | Jun. 30, 2015 |
Amendment Flag | false |
Document Fiscal Year Focus | 2,015 |
Document Fiscal Period Focus | Q2 |
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 | 803,065,757 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Assets | |||
Cash and due from banks | $ 1,379,969 | $ 1,220,565 | |
Interest-bearing deposits in banks | 71,409 | 64,559 | |
Trading account securities | 59,146 | 42,191 | |
Loans held for sale | [1] | 548,054 | 416,327 |
Available-for-sale and other securities | 10,254,871 | 9,384,670 | |
Held-to-maturity securities | 3,304,160 | 3,379,905 | |
Loans and Leases Receivable, Net Reported Amount [Abstract] | |||
Commercial and industrial | 20,002,676 | 19,033,146 | |
Commercial real estate | 5,213,793 | 5,197,403 | |
Automobile | 8,549,081 | 8,689,902 | |
Home equity | 8,526,276 | 8,490,915 | |
Residential mortgage | 5,987,000 | 5,830,609 | |
Other consumer | 473,475 | 413,751 | |
Loans and leases | 48,752,301 | 47,655,726 | |
Allowance for loan and lease losses | (599,542) | (605,196) | |
Net loans and leases | 48,152,759 | 47,050,530 | |
Bank owned life insurance | 1,735,627 | 1,718,436 | |
Premises and equipment | 615,436 | 616,407 | |
Goodwill | 678,369 | 522,541 | |
Other intangible assets | 62,705 | 74,671 | |
Accrued income and other assets | 1,983,143 | 1,807,208 | |
Total assets | 68,845,648 | 66,298,010 | |
Deposits in domestic offices [Abstract] | |||
Deposits, Total | 53,473,179 | 51,732,151 | |
Short-term borrowings | 1,511,444 | 2,397,101 | |
LongTermDebt | 5,854,584 | 4,335,962 | |
Accrued expenses and other liabilities | 1,510,183 | 1,504,626 | |
Total liabilities | 62,349,390 | 59,969,840 | |
Shareholders' equity | |||
Common stock | 8,050 | 8,131 | |
Capital surplus | 7,109,493 | 7,221,745 | |
Less treasury shares, at cost | (17,043) | (13,382) | |
Accumulated other comprehensive loss | (185,650) | (222,292) | |
Retained (deficit) earnings | (804,884) | (1,052,324) | |
Total shareholders' equity | 6,496,258 | 6,328,170 | |
Total liabilities and shareholders' equity | $ 68,845,648 | $ 66,298,010 | |
Common shares authorized (par value of $0.01) | 1,500,000,000 | 1,500,000,000 | |
Common shares issued | 805,035,698 | 813,136,321 | |
Common shares outstanding | 803,065,757 | 811,454,676 | |
Treasury shares outstanding | 1,969,941 | 1,681,645 | |
Preferred shares issued | 1,967,071 | 1,967,071 | |
Preferred shares outstanding | 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] | Amounts represent loans for which Huntington has elected the fair value option. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Loans held for sale, fair value | $ 453,489 | $ 354,888 |
Loans and leases, fair value | $ 38,995 | $ 50,617 |
Shareholders' equity | ||
Preferred stock, authorized shares | 6,617,808 | 6,617,808 |
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 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Loans and leases | ||||
Loans and Leases, total | $ 436,564,000 | $ 420,938,000 | $ 857,177,000 | $ 823,446,000 |
Available-for-sale and other securities | ||||
Taxable | 51,525,000 | 42,028,000 | 99,381,000 | 80,484,000 |
Tax-exempt | 10,319,000 | 6,605,000 | 19,605,000 | 12,089,000 |
Held-to-maturity securities | ||||
Held-to-maturity securities - taxable | 20,742,000 | 22,614,000 | 41,408,000 | 45,934,000 |
Other | 10,645,000 | 3,137,000 | 14,320,000 | 5,824,000 |
Total interest income | 529,795,000 | 495,322,000 | 1,031,891,000 | 967,777,000 |
Interest expense | ||||
Deposits | 19,865,000 | 21,846,000 | 39,433,000 | 45,784,000 |
Short-term borrowings | 731,000 | 720,000 | 1,273,000 | 1,243,000 |
Federal Home Loan Bank advances | 71,000 | 172,000 | 447,000 | 252,000 |
Subordinated notes and other long-term debt | 18,442,000 | 12,536,000 | 32,367,000 | 22,944,000 |
Total interest expense | 39,109,000 | 35,274,000 | 73,520,000 | 70,223,000 |
Net interest income | 490,686,000 | 460,048,000 | 958,371,000 | 897,554,000 |
Provision for credit losses | 20,419,000 | 29,385,000 | 41,010,000 | 54,015,000 |
Net interest income after provision for credit losses | 470,267,000 | 430,663,000 | 917,361,000 | 843,539,000 |
Service charges on deposit accounts | 70,118,000 | 72,633,000 | 132,338,000 | 137,215,000 |
Mortgage banking income | 26,550,000 | 29,581,000 | 55,589,000 | 59,146,000 |
Trust services income | 30,259,000 | 26,491,000 | 57,657,000 | 50,133,000 |
Electronic banking income | 38,518,000 | 22,717,000 | 61,479,000 | 45,807,000 |
Brokerage income | 17,637,000 | 15,996,000 | 30,684,000 | 35,072,000 |
Insurance income | 15,184,000 | 17,905,000 | 33,532,000 | 32,492,000 |
Gain (Loss) on sale of loans | 12,453,000 | 3,914,000 | 17,042,000 | 7,484,000 |
Bank owned life insurance income | 13,215,000 | 13,865,000 | 26,240,000 | 27,172,000 |
Capital markets income | 13,192,000 | 10,500,000 | 27,097,000 | 19,694,000 |
Net gains on sales of securities | 82,000 | 490,000 | 82,000 | 17,460,000 |
Impairment losses recognized in earnings on available-for-sale securities | 0 | 0 | 0 | 0 |
Other income | 44,565,000 | 35,975,000 | 71,656,000 | 66,877,000 |
Total noninterest income | 281,773,000 | 250,067,000 | 513,396,000 | 498,552,000 |
Personnel costs | 282,135,000 | 260,600,000 | 547,051,000 | 510,077,000 |
Outside data processing and other services | 58,508,000 | 54,338,000 | 109,043,000 | 105,828,000 |
Net occupancy | 28,861,000 | 28,673,000 | 59,881,000 | 62,106,000 |
Equipment | 31,694,000 | 28,749,000 | 61,943,000 | 57,499,000 |
Deposit and other insurance expense | 15,024,000 | 14,832,000 | 27,999,000 | 25,518,000 |
Professional services | 9,960,000 | 9,520,000 | 20,166,000 | 18,811,000 |
Marketing | 12,593,000 | 17,896,000 | 25,320,000 | 30,127,000 |
Amortization of intangibles | 11,787,000 | 10,599,000 | 21,954,000 | 24,317,000 |
OREO and foreclosure expense | 0 | 0 | 0 | 0 |
Gains on early extinguishment of debt | 0 | 0 | 0 | 0 |
Other expense | 41,215,000 | 33,429,000 | 77,277,000 | 84,474,000 |
Total noninterest expense | 491,777,000 | 458,636,000 | 950,634,000 | 918,757,000 |
Income before income taxes | 260,263,000 | 222,094,000 | 480,123,000 | 423,334,000 |
Provision for income taxes | 64,057,000 | 57,475,000 | 118,063,000 | 109,572,000 |
Net income | 196,206,000 | 164,619,000 | 362,060,000 | 313,762,000 |
Dividends on preferred shares | 7,968,000 | 7,963,000 | 15,933,000 | 15,927,000 |
Net income applicable to common shares | $ 188,238,000 | $ 156,656,000 | $ 346,127,000 | $ 297,835,000 |
Average common shares - basic | 806,891 | 821,546 | 808,335 | 825,603 |
Average common shares - diluted | 820,238 | 834,687 | 822,023 | 838,546 |
Per common share: | ||||
Net income - basic | $ 0.23 | $ 0.19 | $ 0.43 | $ 0.36 |
Net income - diluted | 0.23 | 0.19 | 0.42 | 0.36 |
Cash dividends declared, prior period | $ 0.06 | $ 0.05 | $ 0.12 | $ 0.1 |
Impairment losses on available-for-sale securities: | ||||
Total OTTI losses | $ 0 | $ 0 | $ 0 | $ 0 |
Noncredit-related portion of loss recognized in other comprehensive income | $ 0 | $ 0 | $ 0 | $ 0 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Income and Comprehensive Income [Abstract] | ||||
Net income | $ 196,206 | $ 164,619 | $ 362,060 | $ 313,762 |
Non-credit-related impairment recoveries on debt securities not expected to be sol | 8,720 | 809 | 12,110 | 5,598 |
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale | (33,812) | 23,448 | 5,140 | 30,401 |
Unrealized gains (losses) on cash flow hedging derivatives | (629) | 17,186 | 17,586 | 17,129 |
Change in accumulated unrealized losses for pension and other postretirement obligations | 903 | 577 | 1,806 | 1,154 |
Other Comprehensive Income (Loss), Net of Tax | (24,818) | 42,020 | 36,642 | 54,282 |
Comprehensive Income | $ 171,388 | $ 206,639 | $ 398,702 | $ 368,044 |
Consolidated Statements of Chan
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 [Member] | Series A Preferred Stock [Member]Retained Earnings (Deficit) | Series B Preferred Stock Variable | Series B Preferred Stock VariableRetained Earnings (Deficit) |
Beginning Balance (Scenario, Previously Reported) at Dec. 31, 2013 | $ 6,090,153 | $ (1,479,324) | ||||||||
Beginning Balance at Dec. 31, 2013 | $ 8,322 | $ 7,398,515 | $ (9,643) | $ (214,009) | $ 362,507 | $ 23,785 | ||||
Beginning Balance, Shares at Dec. 31, 2013 | 832,217 | (1,331) | 363 | 35 | ||||||
Comprehensive Income: | ||||||||||
Net income | 313,762 | 313,762 | ||||||||
Total other comprehensive income (loss) | 54,282 | 54,282 | ||||||||
Business Acquisition Equity Interests Issued Or Issuable Number Of Shares Issued | 8,670 | |||||||||
Stock Issued During Period, Shares Employee Benefit Plan | 276 | |||||||||
Stock Issued During Period, Value Employee Benefit Plan | $ 2,597 | $ 3 | 2,594 | |||||||
Purchase of common stock shares | (26,700) | (26,666) | ||||||||
Repurchase of common stock | $ (246,989) | $ (267) | (246,722) | |||||||
Cash dividends declared: | ||||||||||
Common Stock, Cash dividends declared | (82,245) | (82,245) | ||||||||
Preferred Stock, Dividend | $ (15,407) | $ (15,407) | $ (521) | $ (521) | ||||||
Recognition of the fair value of share-based compensation | 22,792 | 22,792 | ||||||||
Other share based compensation activity, dividends | (350) | |||||||||
Other share based compensation activity | 8,379 | $ 29 | 8,700 | |||||||
Other share based compensation activity, Shares | 2,942 | |||||||||
Other | 2,324 | 1,788 | $ 572 | (44) | ||||||
Other, Shares | (85) | |||||||||
Ending Balance at Jun. 30, 2014 | 6,240,791 | $ 8,182 | 7,279,244 | $ (9,071) | (159,727) | (1,264,129) | $ 362,507 | $ 23,785 | ||
Ending Balance, Shares at Jun. 30, 2014 | 818,248 | (1,246) | 363 | 35 | ||||||
Comprehensive Income: | ||||||||||
Business Acquisition Equity Interest Issued Or Issuable Value Asigned | 91,664 | $ 87 | 91,577 | |||||||
Beginning Balance at Dec. 31, 2014 | 6,328,170 | $ 8,131 | 7,221,745 | $ (13,382) | (222,292) | (1,052,324) | $ 362,507 | $ 23,785 | ||
Beginning Balance, Shares at Dec. 31, 2014 | 813,136 | (1,682) | 363 | 35 | ||||||
Comprehensive Income: | ||||||||||
Net income | 362,060 | 362,060 | ||||||||
Total other comprehensive income (loss) | 36,642 | 36,642 | ||||||||
Business Acquisition Equity Interests Issued Or Issuable Number Of Shares Issued | 0 | |||||||||
Stock Issued During Period, Shares Employee Benefit Plan | 0 | |||||||||
Stock Issued During Period, Value Employee Benefit Plan | $ 0 | $ 0 | 0 | |||||||
Purchase of common stock shares | (13,800) | (13,783) | ||||||||
Repurchase of common stock | $ (150,847) | $ 138 | 150,709 | |||||||
Cash dividends declared: | ||||||||||
Common Stock, Cash dividends declared | (96,732) | (96,732) | ||||||||
Preferred Stock, Dividend | $ (15,407) | $ (15,407) | $ (526) | $ (526) | ||||||
Recognition of the fair value of share-based compensation | 25,573 | 25,573 | ||||||||
Other share based compensation activity, dividends | (1,935) | |||||||||
Other share based compensation activity | 10,349 | $ 57 | 12,227 | |||||||
Other share based compensation activity, Shares | 5,642 | |||||||||
Other | (3,024) | $ 0 | 657 | $ (3,661) | (20) | |||||
Other, Shares | (41) | 288 | ||||||||
Ending Balance at Jun. 30, 2015 | 6,496,258 | $ 8,050 | 7,109,493 | $ (17,043) | $ (185,650) | $ (804,884) | $ 362,507 | $ 23,785 | ||
Ending Balance, Shares at Jun. 30, 2015 | 805,036 | (1,970) | 363 | 35 | ||||||
Comprehensive Income: | ||||||||||
Business Acquisition Equity Interest Issued Or Issuable Value Asigned | $ 0 | $ 0 | $ 0 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Cash dividends declared: | ||
Common stock, Cash dividend per share | $ 0.12 | $ 0.1 |
Series A Preferred Stock [Member] | ||
Cash dividends declared: | ||
Preferred stock dividend per share | 42.5 | 42.5 |
Series B Preferred Stock Variable [Member] | ||
Cash dividends declared: | ||
Preferred stock dividend per share | $ 14.85 | $ 14.68 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Operating activities | ||
Net income | $ 362,060 | $ 313,762 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Goodwill, Impairment Loss | 0 | 3,000 |
Provision for credit losses | 41,010 | 54,015 |
Depreciation and amortization | 167,957 | 152,867 |
Share-based compensation expense | 25,573 | 22,792 |
Change in deferred income taxes | 24,138 | (10,280) |
Originations of loans held for sale | (1,890,432) | (1,087,825) |
Principal payments on and proceeds from loans held for sale | 1,677,454 | 1,071,980 |
Gain on sale of loans held for sale | (17,424) | (12,209) |
Gains on early extinguishment of debt | 0 | 0 |
Bargain purchase gain | 0 | 0 |
Net gain on sales of securities | (82) | (17,460) |
Impairment losses recognized in earnings on available-for-sale securities | 0 | 0 |
Other Noncash Income (Expense) | 27,225 | 0 |
Net change in | ||
Trading account securities | (16,955) | (14,968) |
Accrued income and other assets | (175,467) | (108,154) |
Accrued expense and other liabilities | (84,512) | 15,079 |
Net cash provided by (used for) operating activities | 86,095 | 382,599 |
Investing activities | ||
Decrease (Increase) in interest bearing deposits in banks | (6,850) | (12,591) |
Net cash received in acquisitions | (457,836) | (13,452) |
Proceeds from: | ||
Maturities and calls of available-for-sale and other securities | 916,486 | 498,227 |
Maturities of held-to-maturity securities | 288,706 | 212,679 |
Sales of available-for-sale and other securities | 20,126 | 1,070,305 |
Purchases of available-for-sale and other securities | (1,798,749) | (2,603,602) |
Purchases of held-to-maturity securities | (215,447) | 0 |
Net proceeds from sales of loans | 203,058 | 132,074 |
Net loan and lease activity, excluding sales | (1,172,432) | (2,422,729) |
Proceeds from sale of operating lease assets | 0 | 377 |
Purchases of premises and equipment | (43,093) | (22,595) |
Proceeds from sales of other real estate | 21,025 | 17,326 |
Purchases of loans and leases | (58,341) | (205,603) |
PaymentsToAcquireIntangibleAssets | 0 | 223 |
ProceedsFromSecuritizationsOfLoansHeldForInvestment | 780,117 | 0 |
Other, net | 1,327 | 2,552 |
Net cash provided by (used for) investing activities | (1,521,903) | (3,347,255) |
Financing activities | ||
Increase (decrease) in deposits | 1,821,169 | 685,180 |
Increase (decrease) in short-term borrowings | (888,979) | 1,278,468 |
Proceeds from Issuance of Other Long-term Debt | 1,746,938 | 1,750,000 |
Maturity/redemption of long-term debt | (789,408) | (198,772) |
Dividends paid on preferred stock | (15,933) | (15,929) |
Dividends paid on common stock | (97,310) | (82,584) |
Proceeds from Issuance of Common Stock | 0 | 2,597 |
ProceedsFromStockOptionsExercised | 6,517 | 9,600 |
SaleOfDeposits | (47,521) | 0 |
Repurchase of common stock | (150,847) | (246,989) |
Other, net | 10,586 | 406 |
Net cash provided by (used for) financing activities | 1,595,212 | 3,181,977 |
Increase (decrease) in cash and cash equivalents | 159,404 | 217,321 |
Cash and cash equivalents at beginning of period | 1,220,565 | 1,001,132 |
Cash and cash equivalents at end of period | 1,379,969 | 1,218,453 |
Supplemental disclosures: | ||
Interest paid | 67,381 | 69,677 |
Income taxes paid (refunded) | 87,986 | 57,750 |
Non-cash activities | ||
Loans transfered to portfolio from held-for-sale | 15,726 | 45,240 |
Transfer of securities to held-to-maturity from available for sale | 0 | 0 |
Loans transferred to loans held for sale | 111,588 | 18,168 |
Dividends accrued, paid in subsequent quarter | 56,589 | 46,645 |
Transfer of loans to OREO | $ 13,028 | $ 0 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Jun. 30, 2015 | |
Basis of Presentation [Abstract] | |
BASIS OF PRESENTATION | Huntington Bancshares Incorporated Notes to Unaudited Condensed Consolidated Financial Statements 1. 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 c onsolidated balanc e 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, therefor e, 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 des criptions 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 hav e 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 | 3 Months Ended |
Jun. 30, 2015 | |
Accounting Standards Update [Abstract] | |
ACCOUNTING STANDARDS UPDATE | 2. 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 credito r 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 require ments 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 consid eration 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 beginni ng after December 15, 2016, including interim periods within that reporting period. Subsequently, t he FASB is sued a one-year deferral for imp lementation, which results in new guidance being effective for annual and interim reporting periods beginning afte r December 15, 2017. The FASB, however, permitted adoption of the new guidance on the original effective date . Management is c urrently assessing the impact on Huntington’s Consolidated Financial Statements. ASU 2014-11 – Transfers and Servicing (Topic 86 0): 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 addi tional 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 t ransactions 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 d id not have a material impact on Huntington’s Unaudi ted 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 Pe riod. 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 b efore 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 an nual periods beginning after December 15, 2015. Management is c urrently assessing the impact on H untington’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 r eceivable 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 be ginning after December 15, 2014. The amendments d id 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 applie s 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 inve stment companies from applying the variable interest entity accounting guidance. The amendments are effective for annual periods beginning after December 15, 2015. Management is c urrently assessing the impact on H untington’s Consolidated Financial Statem ents . 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 recogn ized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. 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 Consolidat ed 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 u nintended 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 i tems 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 entit y 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 s ignificant impact on Huntington’s Unaudited Condensed Consolidated Financial Statements . |
Loans and Leases and Allowance
Loans and Leases and Allowance for Credit Losses | 3 Months Ended |
Jun. 30, 2015 | |
Loans / Leases and Allowance for Credit Losses [Abstract] | |
Loans / Leases AND ALLOWANCE FOR CREDIT LOSSES | 3. 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 and leases are carried at the principal amount outstanding, net of unamortized deferred loan origination fees and costs . At June 30, 2015 , and December 31, 2014 , the aggregate amount of these net unamortized deferred loan origination fees and was $ 300.5 million and $ 178.7 million, respectively. Loan and Lease Portfolio Composition The followin g table provides a detailed listing of Huntington’s loan and lease portfolio at June 30, 2015 and December 31, 2014 : June 30, December 31, (dollar amounts in thousands) 2015 2014 Loans and leases: Commercial and industrial $ 20,002,676 $ 19,033,146 Commercial real estate 5,213,793 5,197,403 Automobile 8,549,081 8,689,902 Home equity 8,526,276 8,490,915 Residential mortgage 5,987,000 5,830,609 Other consumer 473,475 413,751 Loans and leases 48,752,301 47,655,726 Allowance for loan and lease losses (599,542) (605,196) Net loans and leases $ 48,152,759 $ 47,050,530 As shown in the table above, the primary loan and lease portfolios are: C&I, CRE, a utomobile, home equity, r esidential m ortgage, and o ther 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. HTF acquisition On March 31 , 201 5, Huntington completed its acquisition of Macquarie Equipment Finance, which was re-branded Huntington Technology Finance (HTF) . 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 curre ntly 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 f or the three-month and six-month periods ended June 30, 2015 and 2014 : Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 (dollar amounts in thousands) 2015 2014 2015 2014 Fidelity Bank Balance, beginning of period $ 20,191 $ 24,758 $ 19,388 $ 27,995 Accretion (2,990) (3,647) (5,864) (7,651) Reclassification from nonaccretable difference 2,111 3,485 5,788 4,252 Balance, end of period $ 19,312 $ 24,596 $ 19,312 $ 24,596 Camco Financial Balance, beginning of period $ 879 $ 134 $ 824 $ --- Impact of acquisition/purchase on March 1, 2014 --- --- --- 143 Accretion (914) (5,173) (1,250) (5,182) Reclassification from nonaccretable difference 716 5,193 1,107 5,193 Balance, end of period $ 681 $ 154 $ 681 $ 154 The allowance for loan losses recorded on the purchased credit-impaired loan portfolio at June 30, 2015 and December 31, 2014 was $1.0 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 June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 (dollar amounts in thousands) Ending Balance Unpaid Balance Ending Balance Unpaid Balance Fidelity Bank Commercial and industrial $ 20,122 $ 29,969 $ 22,405 $ 33,622 Commercial real estate 25,742 71,953 36,663 87,250 Residential mortgage 2,040 3,017 1,912 3,096 Other consumer 51 114 51 123 Total $ 47,955 $ 105,053 $ 61,031 $ 124,091 Camco Financial Commercial and industrial $ --- $ --- $ 823 $ 1,685 Commercial real estate 1,849 2,603 1,708 3,826 Total $ 1,849 $ 2,603 $ 2,531 $ 5,511 Loan Purchases and Sales The followi ng table summarizes portfolio loan purchase and sale activity for the three-month and six-month periods ended June 30, 2015 and 2014 Commercial and Industrial Commercial Real Estate Automobile Home Equity Residential Mortgage Other Consumer Total (dollar amounts in thousands) Portfolio loans and leases purchased or transferred from held for sale during the: Three-month period ended June 30, 2015 $ 31,905 $ --- $ 262,037 (2) $ --- $ 75,403 $ --- $ 369,345 Six-month period ended June 30, 2015 $ 44,496 $ --- $ 262,037 (2) $ --- $ 107,037 $ --- $ 413,570 Three-month period ended June 30, 2014 $ 165,482 $ --- $ --- $ --- $ --- $ --- $ 165,482 Six-month period ended June 30, 2014 $ 205,603 $ --- $ --- $ --- $ --- $ --- $ 205,603 Portfolio loans and leases sold or transferred to loans held for sale during the: Three-month period ended June 30, 2015 $ 100,202 $ --- $ --- $ --- $ --- $ --- $ 100,202 Six-month period ended June 30, 2015 $ 185,902 $ --- $ 1,026,195 (1) $ --- $ --- --- $ 1,212,097 Three-month period ended June 30, 2014 $ 50,472 $ 7,395 $ --- $ --- $ --- $ 7,592 $ 65,459 Six-month period ended June 30, 2014 $ 104,731 $ 7,434 $ --- $ --- $ --- $ 7,592 $ 119,757 (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. 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 mo rtgage loans are placed on nonaccrual status at 150 -days past due, with the exception of residential mortgages guaranteed by government organizations . Firs t -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 identifie d 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 rever sed with current year accruals charged to interest income, and prior year amounts charged-off 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-re affirmed 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 borrow er’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 a bility 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 June 30, 2015 and December 31, 2014 : June 30, December 31, (dollar amounts in thousands) 2015 2014 Commercial and industrial: Owner occupied $ 44,864 $ 41,285 Other commercial and industrial 104,849 30,689 Total commercial and industrial $ 149,713 $ 71,974 Commercial real estate: Retail properties $ 18,314 $ 21,385 Multi family 5,647 9,743 Office 14,545 7,707 Industrial and warehouse 1,182 3,928 Other commercial real estate 4,200 5,760 Total commercial real estate $ 43,888 $ 48,523 Automobile $ 4,190 $ 4,623 Home equity: Secured by first-lien $ 42,424 $ 46,938 Secured by junior-lien 32,926 31,622 Total home equity $ 75,350 $ 78,560 Residential mortgage $ 91,198 $ 96,564 Other consumer $ --- $ --- Total nonaccrual loans $ 364,339 $ 300,244 The following table presents an aging analysis of loans and leases , including past due loans, by loan class at June 30, 2015 and December 31, 2014 : (1) June 30, 2015 90 or more (dollar amounts in thousands) Past Due Total Loans days past due 30-59 Days 60-89 Days 90 or more days Total Current and Leases and accruing Commercial and industrial: Owner occupied $ 8,420 $ 3,328 $ 23,594 $ 35,342 $ 4,164,517 $ 4,199,859 $ --- Purchased credit-impaired 409 --- 4,765 5,174 14,948 20,122 4,765 (3) Other commercial and industrial 28,636 18,363 22,282 69,281 15,713,414 15,782,695 1,856 (2) Total commercial and industrial $ 37,465 $ 21,691 $ 50,641 $ 109,797 $ 19,892,879 $ 20,002,676 $ 6,621 Commercial real estate: Retail properties $ 425 $ 1,167 $ 3,356 $ 4,948 $ 1,350,570 $ 1,355,518 $ --- Multi family 2,092 12 2,477 4,581 1,116,003 1,120,584 --- Office 3,090 --- 1,929 5,019 925,921 930,940 --- Industrial and warehouse 420 327 430 1,177 499,910 501,087 --- Purchased credit-impaired 1,166 2,012 10,920 14,098 13,493 27,591 10,920 (3) Other commercial real estate 310 105 4,052 4,467 1,273,606 1,278,073 --- Total commercial real estate $ 7,503 $ 3,623 $ 23,164 $ 34,290 $ 5,179,503 $ 5,213,793 $ 10,920 Automobile $ 50,355 $ 10,373 $ 4,388 $ 65,116 $ 8,483,965 $ 8,549,081 $ 4,269 Home equity: Secured by first-lien $ 16,903 $ 7,266 $ 29,861 $ 54,030 $ 5,151,027 $ 5,205,057 $ 4,879 Secured by junior-lien 23,663 9,564 33,872 67,099 3,254,120 3,321,219 6,834 Total home equity $ 40,566 $ 16,830 $ 63,733 $ 121,129 $ 8,405,147 $ 8,526,276 $ 11,713 Residential mortgage: Residential mortgage $ 92,554 $ 37,877 $ 118,641 $ 249,072 $ 5,735,888 $ 5,984,960 $ 72,509 Purchased credit-impaired --- --- --- --- 2,040 2,040 --- Total residential mortgage $ 92,554 $ 37,877 $ 118,641 $ 249,072 $ 5,737,928 $ 5,987,000 $ 72,509 (4) Other consumer: Other consumer $ 5,624 $ 1,120 $ 847 $ 7,591 $ 465,833 $ 473,424 $ 846 Purchased credit-impaired --- --- --- --- 51 51 --- Total other consumer $ 5,624 $ 1,120 $ 847 $ 7,591 $ 465,884 $ 473,475 $ 846 Total loans and leases $ 234,067 $ 91,514 $ 261,414 $ 586,995 $ 48,165,306 $ 48,752,301 $ 106,878 December 31, 2014 90 or more (dollar amounts in thousands) Past Due Total Loans days past due 30-59 Days 60-89 Days 90 or more days Total Current and Leases and accruing 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 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 (3) 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 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 (3) 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 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 (5) 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 HTF 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 $50,640 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 e xperience 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 quant ifying 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 increasin g 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 boa rd 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 genera l 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 regula rly 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 p erformance 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 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 using a 24-month loss emergence period. 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 credi t 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 avail able 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 frequen tly 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 meas urements 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 ot her 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 b y 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 th is 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 r eserve 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 re serve 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 . The following table presents ALLL and AULC activity by portfolio segment for the three-month and six-month periods ended June 30, 2015 and 2014 : Commercial and Commercial Home Residential Other Industrial Real Estate Automobile Equity Mortgage Consumer Total (dollar amounts in thousands) Three-month period ended June 30, 2015: ALLL balance, beginning of period $ 284,573 $ 100,752 $ 37,125 $ 110,280 $ 55,380 $ 17,016 $ 605,126 Loan charge-offs (12,213) (8,288) (7,691) (8,629) (3,610) (6,539) (46,970) Recoveries of loans previously charged-off 7,802 2,763 4,249 3,979 1,468 1,334 21,595 Provision (reduction in allowance) for loan and lease losses 4,879 (3,167) 5,418 5,548 (1,559) 8,671 19,790 Allowance for loans sold or transferred to loans held for sale --- --- 1 --- --- --- 1 ALLL balance, end of period $ 285,041 $ 92,060 $ 39,102 $ 111,178 $ 51,679 $ 20,482 $ 599,542 AULC balance, beginning of period $ 42,315 $ 5,531 $ --- $ 2,639 $ 9 $ 4,248 $ 54,742 Provision (reduction in allowance) for unfunded loan commitments and letters of credit (466) 247 --- (117) 8 957 629 AULC balance, end of period $ 41,849 $ 5,778 $ --- $ 2,522 $ 17 $ 5,205 $ 55,371 ACL balance, end of period $ 326,890 $ 97,838 $ 39,102 $ 113,700 $ 51,696 $ 25,687 $ 654,913 Six-month period ended June 30, 2015: ALLL balance, beginning of period $ 286,995 $ 102,839 $ 33,466 $ 96,413 $ 47,211 $ 38,272 $ 605,196 Loan charge-offs (36,825) (10,301) (15,794) (17,215) (8,473) (13,437) (102,045) Recoveries of loans previously charged-off 21,011 8,788 8,104 7,940 3,515 2,880 52,238 Provision (reduction in allowance) for loan and lease losses 13,860 (9,266) 15,618 24,040 9,426 (7,233) 46,445 Allowance for loans sold or transferred to loans held for sale --- --- (2,292) --- --- --- (2,292) ALLL balance, end of period $ 285,041 $ 92,060 $ 39,102 $ 111,178 $ 51,679 $ 20,482 $ 599,542 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 (7,139) (263) --- 598 9 1,360 (5,435) AULC balance, end of period $ 41,849 $ 5,778 $ --- $ 2,522 $ 17 $ 5,205 $ 55,371 ACL balance, end of period $ 326,890 $ 97,838 $ 39,102 $ 113,700 $ 51,696 $ 25,687 $ 654,913 Commercial and Commercial Home Residential Other Industrial Real Estate Automobile Equity Mortgage Consumer Total (dollar amounts in thousands) Three-month period ended June 30, 2014: ALLL balance, beginning of period $ 266,979 $ 160,306 $ 25,178 $ 113,177 $ 39,068 $ 27,210 $ 631,918 Loan charge-offs (23,245) (2,998) (6,632) (13,201) (6,062) (6,689) (58,827) Recoveries of loans previously charged-off 12,648 5,189 3,706 4,710 2,656 1,275 30,184 Provision for (reduction in allowance) loan and lease losses 22,130 (25,151) 4,906 1,257 11,529 17,155 31,826 Allowance for loans sold or transferred to loans held for sale --- --- --- --- --- --- --- ALLL balance, end of period $ 278,512 $ 137,346 $ 27,158 $ 105,943 $ 47,191 $ 38,951 $ 635,101 AULC balance, beginning of period $ 46,316 $ 9,127 $ --- $ 1,791 $ 8 $ 2,126 $ 59,368 Provision for (reduction in allowance) unfunded loan commitments and letters of credit (1,566) (1,597) --- 186 --- 536 (2,441) AULC balance, end of period $ 44,750 $ 7,530 $ --- $ 1,977 $ 8 $ 2,662 $ 56,927 ACL balance, end of period $ 323,262 $ 144,876 $ 27,158 $ 107,920 $ 47,199 $ 41,613 $ 692,028 Six-month period ended June 30, 2014: ALLL balance, beginning of period $ 265,801 $ 162,557 $ 31,053 $ 111,131 $ 39,577 $ 37,751 $ 647,870 Loan charge-offs (39,582) (13,108) (14,676) (34,260) (15,048) (15,164) (131,838) Recoveries of loans previously charged-off 20,379 16,286 7,108 10,082 3,783 2,571 60,209 Provision for (reduction in allowance) loan and lease losses 31,914 (28,389) 3,673 18,990 18,879 14,920 59,987 Allowance for loans sold or transferred to loans held for sale --- --- --- --- --- (1,127) (1,127) ALLL balance, end of period $ 278,512 $ 137,346 $ 27,158 $ 105,943 $ 47,191 $ 38,951 $ 635,101 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 (4,846) (2,361) --- 214 (1) 1,022 (5,972) AULC balance, end of period $ 44,750 $ 7,530 $ --- $ 1,977 $ 8 $ 2,662 $ 56,927 ACL balance, end of period $ 323,262 $ 144,876 $ 27,158 $ 107,920 $ 47,199 $ 41,613 $ 692,028 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 va lue, 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 appropriat e 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 ri sk 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 coll ection 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 approp riate. 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 cred it 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 i ndicator 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 June 30, 2015 and December 31, 2014 : June 30, 2015 Credit Risk Profile by UCS classification (dollar amounts in thousands) Pass OLEM Substandard Doubtful Total Commercial and industrial: Owner occupied $ 3,875,455 $ 114,939 $ 207,241 $ 2,224 $ 4,199,859 Purchased credit-impaired 4,061 500 15,360 201 20,122 Other commercial and industrial 14,892,225 315,347 572,268 2,855 15,782,695 Total commercial and industrial $ 18,771,741 $ 430,786 $ 794,869 $ 5,280 $ 20,002,676 Commercial real estate: Retail properties $ 1,284,017 $ 13,750 $ 58,006 $ (255) $ 1,355,518 Multi family 1,084,707 12,041 23,345 491 1,120,584 Office 859,603 27,135 42,155 2,047 930,940 Industrial and warehouse 488,609 347 11,768 363 501,087 Purchased credit-impaired 8,923 158 16,656 1,854 27,591 Other commercial real estate 1,242,841 4,678 29,714 840 1,278,073 Total commercial real estate $ 4,968,700 $ 58,109 $ 181,644 $ 5,340 $ 5,213,793 Credit Risk Profile by FICO score (1) 750+ 650-749 <650 Other (2) Total Automobile $ 4,172,286 $ 3,177,579 $ 961,996 $ 237,220 $ 8,549,081 Home equity: Secured by first-lien $ 3,311,887 $ 1,438,410 $ 282,919 $ 171,841 $ 5,205,057 Secured by junior-lien 1,824,355 1,041,941 349,377 105,546 3,321,219 Total home equity $ 5,136,242 $ 2,480,351 $ 632,296 $ 277,387 $ 8,526,276 Residential mortgage: Residential mortgage $ 3,528,722 $ 1,795,997 $ 603,735 $ 56,506 $ 5,984,960 Purchased credit-impaired 636 723 681 --- 2,040 Total residential mortgage $ |
Available for-Sale and Other Se
Available for-Sale and Other Securities | 3 Months Ended |
Jun. 30, 2015 | |
Securities [Abstract] | |
AVAILABLE-FOR-SALE AND OTHER SECURITIES | 4. 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 June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 Amortized Amortized (dollar amounts in thousands) Cost Fair Value Cost Fair Value U.S. Treasury: Under 1 year $ 7,083 $ 7,085 $ --- $ --- 1-5 years 5,446 5,515 5,435 5,452 6-10 years --- --- --- --- Over 10 years --- --- --- --- Total U.S. Treasury 12,529 12,600 5,435 5,452 Federal agencies: mortgage-backed securities: Under 1 year 32,515 32,602 47,023 47,190 1-5 years 201,594 204,837 216,775 221,078 6-10 years 228,390 232,017 184,576 186,938 Over 10 years 5,647,118 5,691,814 4,825,525 4,867,495 Total Federal agencies: mortgage-backed securities 6,109,617 6,161,270 5,273,899 5,322,701 Other agencies: Under 1 year 1,703 1,710 33,047 33,237 1-5 years 8,265 8,693 9,122 9,575 6-10 years 152,433 155,589 103,530 105,019 Over 10 years 161,679 163,192 204,016 203,712 Total other agencies 324,080 329,184 349,715 351,543 Total U.S. Treasury, Federal agency, and other agency securities 6,446,226 6,503,054 5,629,049 5,679,696 Municipal securities: Under 1 year 252,645 244,911 256,399 255,835 1-5 years 389,879 391,985 269,385 274,003 6-10 years 997,694 1,006,042 938,780 945,954 Over 10 years 453,343 475,428 376,747 392,777 Total municipal securities 2,093,561 2,118,366 1,841,311 1,868,569 Private-label CMO: Under 1 year --- --- --- --- 1-5 years 1,065 1,109 --- --- 6-10 years --- --- 1,314 1,371 Over 10 years 38,217 36,895 42,416 40,555 Total private-label CMO 39,282 38,004 43,730 41,926 Asset-backed securities: Under 1 year --- --- --- --- 1-5 years 146,428 146,936 228,852 229,364 6-10 years 128,509 128,725 144,163 144,193 Over 10 years 552,443 515,656 641,984 582,441 Total asset-backed securities 827,380 791,317 1,014,999 955,998 Corporate debt: Under 1 year 29,986 29,990 18,767 18,953 1-5 years 308,150 315,987 314,773 323,503 6-10 years 109,769 108,607 145,611 143,720 Over 10 years --- --- --- --- Total corporate debt 447,905 454,584 479,151 486,176 Other: Under 1 year --- --- 250 250 1-5 years 3,950 3,897 3,150 3,066 6-10 years --- --- --- --- Over 10 years --- --- --- --- Non-marketable equity securities 332,095 332,095 331,559 331,559 Mutual funds 11,823 11,823 16,151 16,161 Marketable equity securities 962 1,731 536 1,269 Total other 348,830 349,546 351,646 352,305 Total available-for-sale and other securities $ 10,203,184 $ 10,254,871 $ 9,359,886 $ 9,384,670 Non-marketable equity securities at June 30, 2015 and December 31, 2014 include $ 157.0 million of stock issued by the FHLB of Cincinnati, and $ 174.4 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 catego ry at June 30, 2015 and December 31, 2014 : Unrealized Amortized Gross Gross Fair (dollar amounts in thousands) Cost Gains Losses Value June 30, 2015 U.S. Treasury $ 12,529 $ 71 $ --- $ 12,600 Federal agencies: Mortgage-backed securities 6,109,617 68,308 (16,655) 6,161,270 Other agencies 324,080 5,121 (17) 329,184 Total U.S. Treasury, Federal agency securities 6,446,226 73,500 (16,672) 6,503,054 Municipal securities 2,093,561 44,281 (19,476) 2,118,366 Private-label CMO 39,282 1,133 (2,411) 38,004 Asset-backed securities 827,380 1,946 (38,009) 791,317 Corporate debt 447,905 8,292 (1,613) 454,584 Other securities 348,830 769 (53) 349,546 Total available-for-sale and other securities $ 10,203,184 $ 129,921 $ (78,234) $ 10,254,871 Unrealized Amortized Gross Gross Fair (dollar amounts in thousands) Cost Gains Losses 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 June 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 re purchase agreements totaled $ 3.4 billion. There were no securities of a single issuer, which are not governmental or government-sponsored, that exceeded 10% of share holders’ equity at June 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 June 30, 2015 and December 31, 2014 : Less than 12 Months Over 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized (dollar amounts in thousands ) Value Losses Value Losses Value Losses June 30, 2015 Federal agencies: Mortgage-backed securities 1,165,377 (6,575) 284,316 (10,080) 1,449,693 (16,655) Other agencies 1,484 (17) --- --- 1,484 (17) Total Federal agency securities 1,166,861 (6,592) 284,316 (10,080) 1,451,177 (16,672) Municipal securities 521,393 (15,835) 231,486 (3,641) 752,879 (19,476) Private-label CMO --- --- 22,246 (2,411) 22,246 (2,411) Asset-backed securities 234,815 (1,490) 259,598 (36,519) 494,413 (38,009) Corporate debt 90,201 (580) 21,677 (1,033) 111,878 (1,613) Other securities 765 (35) 1,483 (18) 2,248 (53) Total temporarily impaired securities $ 2,014,035 $ (24,532) $ 820,806 $ (53,702) $ 2,834,841 $ (78,234) Less than 12 Months Over 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized (dollar amounts in thousands ) Value Losses Value Losses Value 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 six-month periods ended June 30, 2015 and 2014 : Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Gross gains on sales of securities $ 82 $ 490 $ 82 $ 17,480 Gross (losses) on sales of securities --- --- --- (20) Net gain on sales of securities $ 82 $ 490 $ 82 $ 17,460 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 investme nts 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 . As of June 30, 2015, Management has evaluated available-for-sale securities with unrealized losses for impairment and concluded no OTTI is required. For the three-month and six-month periods ended June 30, 2015 and 2014, there were no OTTI losses recogn ized in the Unaudited Condensed Consolidated Statements of Income for securities evaluated for impairment as described above. The OTTI recognized in accumulated other comprehensive income on debt securities held by Huntington at June 30, 2015 and 2014 is $ 30.9 million. The highest risk segments of our investment portfolio are the trust preferred CDO and 2003-2006 vintage private-label CMO portfolios. The CDOs are in the asset-backed securities portfolio. These segments are in run off, and we have not pu rchased these types of securities since 2008. The fair values of the private label CMO and CDO assets have been impacted by various market conditions. The unrealized losses are primarily the result of wider liquidity spreads on asset-backed securities an d increased market volatility on non-agency mortgage that are collateralized by certain mortgage loans. In addition, the expected average lives of the asset-backed securities backed by trust-preferred securities have been extended, due to changes in the e xpectations of when the underlying securities would be repaid. Private-label CMO securities are collateralized by first-lien residential mortgage loans. Of the $38.0 million of the private-label CMO securities reported at fair value at June 30, 2015, a pproximately $20.4 million are rated below investment grade. The securities are valued by a third party pricing specialist using a discounted cash flow approach and proprietary pricing model. The model uses inputs such as estimated prepayment speeds, los ses, recoveries, default rates that are implied by the underlying performance of collateral in the structure or similar structures, discount rates that are implied by market prices for similar securities, collateral structure types, and house price depreci ation / appreciation rates that are based upon macroeconomic forecasts. Collateralized Debt Obligations are backed by a pool of debt securities issued by financial institutions. The collateral generally consists of trust-preferred securities and subordi nated 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 a nd 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 flow s 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 th e 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 iss uer. 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 p robabilities 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 refe rence 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 n ature 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, ge nerally 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 Rul e. 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 r equirements of the interim final rule. At June 30, 2015 , we had investments in nine different pools of trust preferred securities. Eight of our pools are included in the list of non-exclusive issuers. We have analyzed the ICONS pool which was not inclu ded 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 . The following table summarizes the relevant characteristics of ou r CDO securities portfolio, which are included in asset-backed securities, at June 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 June 30, 2015 (dollar amounts in thousands) Actual Deferrals Expected and Defaults # of Issuers Defaults as a % of Lowest Currently as a % of Remaining Amortized Fair Unrealized Credit Performing/ Original Performing Excess Deal Name Par Value Cost Value Loss (2) Rating (3) Remaining (4) Collateral Collateral Subordination (5) Alesco II (1) $ 41,646 $ 28,434 $ 25,212 $ (3,222) C 30/32 5 % 7 % 3 % ICONS 19,515 19,515 15,590 (3,925) BB 19/21 7 16 56 MM Comm III 5,459 5,216 4,355 (861) BB 6/9 5 6 33 Pre TSL IX (1) 5,000 3,955 3,177 (778) C 28/38 17 9 8 Pre TSL XI (1) 25,000 20,399 15,380 (5,019) C 42/55 16 9 9 Pre TSL XIII (1) 27,530 19,999 16,735 (3,264) C 41/56 21 22 11 Reg Diversified (1) 25,500 5,706 2,468 (3,238) D 25/40 32 7 --- Soloso (1) 12,500 2,440 618 (1,822) C 34/58 29 19 --- Tropic III 31,000 31,000 18,535 (12,465) CCC+ 29/40 20 8 39 Total at June 30, 2015 $ 193,150 $ 136,664 $ 102,070 $ (34,594) Total at December 31, 2014 $ 193,597 $ 139,194 $ 82,738 $ (56,456) (1) Security was determined to have OTTI. As such, the book 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 | 3 Months Ended |
Jun. 30, 2015 | |
Held to Maturity Securities [Abstract] | |
HELD-TO-MATURITY SECURITIES | 5. HELD-TO-MATURITY Securities These are debt securities that Huntington has the intent and ability to hold until maturity. The d ebt 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 June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 Amortized Fair Amortized Fair (dollar amounts in thousands) Cost Value Cost Value Federal agencies: mortgage-backed securities: Under 1 year $ --- $ --- $ --- $ --- 1-5 years --- --- --- --- 6-10 years 24,901 24,476 24,901 24,263 Over 10 years 2,906,086 2,911,305 3,136,460 3,140,194 Total Federal agencies: mortgage-backed securities 2,930,987 2,935,781 3,161,361 3,164,457 Other agencies: Under 1 year --- --- --- --- 1-5 years --- --- --- --- 6-10 years 92,903 94,396 54,010 54,843 Over 10 years 272,671 271,961 156,553 155,821 Total other agencies 365,574 366,357 210,563 210,664 Total U.S. Government backed agencies 3,296,561 3,302,138 3,371,924 3,375,121 Municipal securities: Under 1 year --- --- --- --- 1-5 years --- --- --- --- 6-10 years --- --- --- --- Over 10 years 7,599 7,341 7,981 7,594 Total municipal securities 7,599 7,341 7,981 7,594 Total held-to-maturity securities $ 3,304,160 $ 3,309,479 $ 3,379,905 $ 3,382,715 The following table provides amortized cost, gross unrealized gains and losses, and fair value by inves tment category at June 30, 2015 and December 31, 2014 : Unrealized Amortized Gross Gross Fair (dollar amounts in thousands) Cost Gains Losses Value June 30, 2015 Federal Agencies: Mortgage-backed securities $ 2,930,987 $ 24,266 $ (19,472) $ 2,935,781 Other agencies 365,574 2,537 (1,754) 366,357 Total U.S. Government backed agencies 3,296,561 26,803 (21,226) 3,302,138 Municipal securities 7,599 --- (258) 7,341 Total held-to-maturity securities $ 3,304,160 $ 26,803 $ (21,484) $ 3,309,479 Unrealized Amortized Gross Gross Fair (dollar amounts in thousands) Cost Gains Losses 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 follow ing 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 conti nuous loss position, at June 30, 2015 and December 31, 2014 : Less than 12 Months Over 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized (dollar amounts in thousands ) Value Losses Value Losses Value Losses June 30, 2015 Federal Agencies: Mortgage-backed securities $ 887,538 $ (6,871) $ 382,679 $ (12,601) $ 1,270,217 $ (19,472) Other agencies 163,312 (1,615) 21,662 (139) 184,974 (1,754) Total U.S. Government backed securities 1,050,850 (8,486) 404,341 (12,740) 1,455,191 (21,226) Municipal securities --- --- 7,341 (258) 7,341 (258) Total temporarily impaired securities $ 1,050,850 $ (8,486) $ 411,682 $ (12,998) $ 1,462,532 $ (21,484) Less than 12 Months Over 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized (dollar amounts in thousands ) Value Losses Value Losses Value 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 d ate. Under these circumstances, any impairment would be recognized in earnings. As of June 30, 2015 , Management has evaluated held-to-maturity securities with unrealized losses for impairment an d concluded no OTTI is required . |
Loan Sales and Securitizations
Loan Sales and Securitizations | 3 Months Ended |
Jun. 30, 2015 | |
Loan Sales and Securitizations [Abstract] | |
LOAN SALES AND SECURITIZATIONS | 6. 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 six-month periods ended June 30, 2015 and 2014 : Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Residential mortgage loans sold with servicing retained $ 938,412 $ 566,471 $ 1,569,096 $ 1,048,308 Pretax gains resulting from above loan sales (1) 27,471 14,996 42,334 27,072 (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 amortizat ion 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 i ncrease 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, wh ich 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 six-month periods ended June 30, 2015 and 2014 : Three Months Ended Six Months Ended Fair Value Method: June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Fair value, beginning of period $ 20,455 $ 30,628 $ 22,786 $ 34,236 Change in fair value during the period due to: Time decay (1) (332) (656) (671) (1,381) Payoffs (2) (997) (1,611) (1,815) (3,525) Changes in valuation inputs or assumptions (3) 1,555 (1,614) 381 (2,583) Fair value, end of period: $ 20,681 $ 26,747 $ 20,681 $ 26,747 Weighted-average life (years) 5.1 3.9 5.1 3.9 (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. Three Months Ended Six Months Ended Amortization Method: June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Carrying value, beginning of period $ 125,454 $ 132,651 $ 132,813 $ 128,064 New servicing assets created 10,338 5,578 16,792 10,631 Servicing assets acquired --- --- --- 3,505 Impairment (charge) / recovery 12,970 (3,685) 4,980 (7,027) Amortization and other (5,635) (1,431) (11,458) (2,060) Carrying value, end of period $ 143,127 $ 133,113 $ 143,127 $ 133,113 Fair value, end of period $ 143,434 $ 139,915 $ 143,434 $ 139,915 Weighted-average life (years) 6.5 5.9 6.5 5.9 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 imp act 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 June 30, 2015 and December 31, 2014 , to changes in these assumptions follows: June 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to 10% 20% 10% 20% adverse adverse adverse adverse (dollar amounts in thousands) Actual change change Actual change change Constant prepayment rate (annualized) 13.60 % $ (955) $ (1,833) 15.60 % $ (1,176) $ (2,248) Spread over forward interest rate swap rates 597 bps (659) (1,277) 546 bps (699) (1,355) For MSRs under the amortization method, a summary of key assumptions and the sensitivity of the MSR value at June 30, 2015 and December 31, 2014 , to changes in these assumptions follows: June 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to 10% 20% 10% 20% adverse adverse adverse adverse (dollar amounts in thousands) Actual change change Actual change change Constant prepayment rate (annualized) 9.80 % $ (4,935) $ (9,525) 11.40 % $ (5,289) $ (10,164) Spread over forward interest rate swap rates 969 bps (4,776) (9,240) 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 $ 3.7 million and $ 4.9 million for the three-month periods ended June 30, 2015 and 2014 , respectively. For the six-month periods ended June 30, 2015 and 2014 , total servicing fees included in mortgage banking income were $ 7.6 million and $ 9.9 million, respectively. The unpaid principal balance of residential mortgage loans serviced for third parties was $ 15.7 billion and $ 15.6 billion at June 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 six-month periods ended June 30, 2015 and 2014 : Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Automobile loans securitized with servicing retained $ 750,000 $ --- $ 750,000 $ --- Pretax gains resulting from above loan sales (1) 5,333 --- 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 Cons olidated 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 r eceives 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 servici ng 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 measur ing 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 automo bile loan servicing rights for the three-month and six-month periods ended June 30, 2015 and 2014 , and the fair value at the end of each period were as follows: Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Carrying value, beginning of period $ 5,063 $ 14,357 $ 6,898 $ 17,672 New servicing assets created 11,180 --- 11,180 --- Amortization and other (1,913) (2,842) (3,748) (6,157) Carrying value, end of period $ 14,330 $ 11,515 $ 14,330 $ 11,515 Fair value, end of period $ 14,336 $ 11,846 $ 14,336 $ 11,846 Weighted-average life (years) 3.2 3.0 3.2 3.0 A summary of key assumptions and the sensitivity of the automobile loan servicing rights value to changes in these assumptions at June 30, 2015 and December 31, 2014 follows: June 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to 10% 20% 10% 20% adverse adverse adverse adverse (dollar amounts in thousands) Actual change change Actual change change Constant prepayment rate (annualized) 15.60 % $ (622) $ (1,203) 14.62 % $ (305) $ (496) Spread over forward interest rate swap rates 500 bps (15) (30) 500 bps (2) (4) Servicing income, net of amortization of capitalized servicing assets and impairment , amounted to $ 1.4 million and $ 2.0 million for the three-month periods ending June 30, 2015 , and 2014 , respectively . For the six-month periods ended June 30, 2015 and 2014 , total servicing income, net of amortization of capitalized servicing assets and impairment, were $ 2.8 million and $ 4.1 million, respectively. The unpaid principal balance of automobile loans se rviced for third parties was $ 1.3 billion and $ 0.8 b illion at June 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 six-month periods ended June 30, 2015 and 2014 : Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 SBA loans sold with servicing retained $ 53,534 $ 45,229 $ 95,935 $ 86,101 Pretax gains resulting from above loan sales (1) 4,696 5,396 8,270 9,772 (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 six-month periods ended June 30, 2015 and 2014 , and the fair value at the end of each period were as follows : Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Carrying value, beginning of period $ 17,947 $ 17,028 $ 18,536 $ 16,865 New servicing assets created 1,839 1,526 3,296 2,861 Amortization and other (1,514) (1,362) (3,560) (2,534) Carrying value, end of period $ 18,272 $ 17,192 $ 18,272 $ 17,192 Fair value, end of period $ 20,350 $ 17,192 $ 20,350 $ 17,192 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 June 30, 2015 and December 31, 2014 follows: June 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to 10% 20% 10% 20% adverse adverse adverse adverse (dollar amounts in thousands) Actual change change Actual change change Constant prepayment rate (annualized) 7.70 % $ (287) $ (569) 5.60 % $ (211) $ (419) Discount rate 1,500 bps (547) (1,071) 1,500 bps (563) (1,102) Servicing income, net of amortization of capitalized servicing assets, amounted to $ 2.1 million and $ 1.8 million for the three-month periods ending June 30, 2015 , and 2014 , respectively . For the six-month periods ended June 30, 2015 and 2014 , total servicing income, net of amortization of capitalized servicing assets, was $ 4.1 million and $ 3.6 million, respectively. The unpaid principal balance of SBA loans serviced for third parties was $ 929.4 million and $ 898.0 million at June 30, 2015 and December 31, 2014 , respectively. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 3 Months Ended |
Jun. 30, 2015 | |
Goodwill and Other Intangible Assets [Abstract] | |
GOODWILL AND OTHER INTANGIBLE ASSETS | 7. 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 (RB H PCG), and Home Lending. A Treasury / Other function includes, along with technology and operations, other unallocated assets, lia bilities, revenue, and expense. A rollforward of goodwill by business segment for the first six-month period of 2015 is presented in the table below: Retail & Business Commercial Home Treasury/ Huntington (dollar amounts in thousands) Banking Banking AFCRE RBHPCG Lending Other Consolidated Balance, beginning of period $ 368,097 $ 59,594 $ --- $ 90,012 $ --- $ 4,838 $ 522,541 Goodwill acquired during the period --- 155,828 --- --- --- --- 155,828 Adjustments --- --- --- --- --- --- --- Impairment --- --- --- --- --- --- --- Balance, end of period $ 368,097 $ 215,422 $ --- $ 90,012 $ --- $ 4,838 $ 678,369 On March 31, 2015, Huntington completed its acquisition of Macquarie Equipment Finance, which was re-branded Huntington Technology Finance (HTF) . 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. 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 re ported 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 June 30, 2015 and December 31, 2014 , Huntington’s oth er intangible assets consisted of the following : Gross Net Carrying Accumulated Carrying (dollar amounts in thousands) Amount Amortization Value June 30, 2015 Core deposit intangible $ 400,058 $ (382,219) $ 17,839 Customer relationship 116,120 (71,366) 44,754 Other 25,164 (25,052) 112 Total other intangible assets $ 541,342 $ (478,637) $ 62,705 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 Amortization in thousands) Expense 2015 $ 7,700 2016 14,316 2017 12,908 2018 11,135 2019 9,825 2020 3,076 |
Other Long Term Debt
Other Long Term Debt | 3 Months Ended |
Jun. 30, 2015 | |
Long-term Debt, Current and Noncurrent [Abstract] | |
Long-term Debt [Text Block] | 8. Long-Term Debt 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 %. Effective March 31, 2015, Huntington completed its acquisition of HTF. 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 o n the non-recourse debt is 3.20 % . Huntington also assumed $ 254.8 million of debt associated with two securitizations. The securitization deb t has various classes and associated maturity dates and has an effective interest rat e 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 | 3 Months Ended |
Jun. 30, 2015 | |
Other Comprehensive Income [Abstract] | |
OTHER COMPREHENSIVE INCOME | 9. OTHER COMPREHENSIVE INCOME The components of other comprehensive income for the three-month and six-month periods ended June 30, 2015 and 2014 , were as follows : Three Months Ended June 30, 2015 Tax (Expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 13,490 $ (4,770) $ 8,720 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period (52,119) 18,374 (33,745) Less: Reclassification adjustment for net losses (gains) included in net income (120) 42 (78) Net change in unrealized holding gains (losses) on available-for-sale debt securities (38,749) 13,646 (25,103) Net change in unrealized holding gains (losses) on available-for-sale equity securities 16 (5) 11 Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period (829) 290 (539) Less: Reclassification adjustment for net (gains) losses included in net income (138) 48 (90) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships (967) 338 (629) Net change in pension and other post-retirement obligations 1,390 (487) 903 Total other comprehensive income (loss) $ (38,310) $ 13,492 $ (24,818) Three Months Ended June 30, 2014 Tax (Expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 1,252 $ (443) $ 809 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period 36,437 (13,015) 23,422 Less: Reclassification adjustment for net losses (gains) included in net income (284) 100 (184) Net change in unrealized holding gains (losses) on available-for-sale debt securities 37,405 (13,358) 24,047 Net change in unrealized holding gains (losses) on available-for-sale equity securities 323 (113) 210 Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period 27,253 (9,539) 17,714 Less: Reclassification adjustment for net (gains) losses included in net income (813) 285 (528) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships 26,440 (9,254) 17,186 Net change in pension and other post-retirement obligations 888 (311) 577 Total other comprehensive income (loss) $ 65,056 $ (23,036) $ 42,020 Six Months Ended June 30, 2015 Tax (expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 18,735 $ (6,625) $ 12,110 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period 8,384 (3,103) 5,281 Less: Reclassification adjustment for net losses (gains) included in net income (241) 84 (157) Net change in unrealized holding gains (losses) on available-for-sale debt securities 26,878 (9,644) 17,234 Net change in unrealized holding gains (losses) on available-for-sale equity securities 25 (9) 16 Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period 27,317 (9,561) 17,756 Less: Reclassification adjustment for net (gains) losses included in net income (261) 91 (170) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships 27,056 (9,470) 17,586 Net change in pension and other post-retirement obligations 2,779 (973) 1,806 Total other comprehensive income (loss) $ 56,738 $ (20,096) $ 36,642 Six Months Ended June 30, 2014 Tax (expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 8,660 $ (3,062) $ 5,598 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period 62,682 (22,347) 40,335 Less: Reclassification adjustment for net losses (gains) included in net income (15,659) 5,481 (10,178) Net change in unrealized holding gains (losses) on available-for-sale debt securities 55,683 (19,928) 35,755 Net change in unrealized holding gains (losses) on available-for-sale equity securities 376 (132) 244 Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period 30,058 (10,521) 19,537 Less: Reclassification adjustment for net (gains) losses included in net income (3,705) 1,297 (2,408) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships 26,353 (9,224) 17,129 Net change in pension and other post-retirement obligations 1,776 (622) 1,154 Total other comprehensive income (loss) $ 84,188 $ (29,906) $ 54,282 The following table presents activity in accumulated other comprehensive income (loss), net of tax, for the six-month periods ended June 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 Balance, December 31, 2013 $ (39,234) $ 292 $ (18,844) $ (156,223) $ (214,009) Other comprehensive income before reclassifications 45,933 244 19,537 --- 65,714 Amounts reclassified from accumulated OCI to earnings (10,178) --- (2,408) 1,154 (11,432) Period change 35,755 244 17,129 1,154 54,282 Balance, June 30, 2014 $ (3,479) $ 536 $ (1,715) $ (155,069) $ (159,727) Balance, December 31, 2014 $ 15,137 $ 484 $ (12,233) $ (225,680) $ (222,292) Other comprehensive income before reclassifications 17,391 16 17,756 --- 35,163 Amounts reclassified from accumulated OCI to earnings (157) --- (170) 1,806 1,479 Period change 17,234 16 17,586 1,806 36,642 Balance, June 30, 2015 $ 32,371 $ 500 $ 5,353 $ (223,874) $ (185,650) (1) Amounts at June 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-month and six-month periods ended June 30, 2015 and 2014 : Reclassifications out of accumulated OCI Amounts Location of net gain (loss) reclassified from reclassified from accumulated Accumulated OCI components accumulated OCI OCI into earnings Three Three Months Ended Months Ended (dollar amounts in thousands) June 30, 2015 June 30, 2014 Gains (losses) on debt securities: Amortization of unrealized gains (losses) $ 80 $ 163 Interest income - held-to-maturity securities - taxable Realized gain (loss) on sale of securities 40 121 Noninterest income - net gains (losses) on sale of securities 120 284 Total before tax (42) (100) Tax (expense) benefit $ 78 $ 184 Net of tax Gains (losses) on cash flow hedging relationships: Interest rate contracts $ 118 $ 895 Interest income - loans and leases Interest rate contracts 20 (82) Noninterest income - other income 138 813 Total before tax (48) (285) Tax (expense) benefit $ 90 $ 528 Net of tax Amortization of defined benefit pension and post-retirement items: Actuarial gains (losses) $ (1,390) $ (888) Noninterest expense - personnel costs (1,390) (888) Total before tax 487 311 Tax (expense) benefit $ (903) $ (577) Net of tax Reclassifications out of accumulated OCI Amounts Location of net gain (loss) reclassified from reclassified from accumulated Accumulated OCI components accumulated OCI OCI into earnings Six Six Months Ended Months Ended (dollar amounts in thousands) June 30, 2015 June 30, 2014 Gains (losses) on debt securities: Amortization of unrealized gains (losses) $ 201 $ 338 Interest income - held-to-maturity securities - taxable Realized gain (loss) on sale of securities 40 15,321 Noninterest income - net gains (losses) on sale of securities 241 15,659 Total before tax (84) (5,481) Tax (expense) benefit $ 157 $ 10,178 Net of tax Gains (losses) on cash flow hedging relationships: Interest rate contracts $ 251 $ 3,787 Interest income - loans and leases Interest rate contracts 10 (82) Noninterest income - other income 261 3,705 Total before tax (91) (1,297) Tax (expense) benefit $ 170 $ 2,408 Net of tax Amortization of defined benefit pension and post-retirement items: Actuarial gains (losses) $ (2,779) $ (1,776) Noninterest expense - personnel costs (2,779) (1,776) Total before tax 973 622 Tax (expense) benefit $ (1,806) $ (1,154) Net of tax |
Shareholders' Equity
Shareholders' Equity | 3 Months Ended |
Jun. 30, 2015 | |
Shareholders' Equity [Abstract] | |
SHAREHOLDERS' EQUITY | 10 . SHAREHOLDERS’ EQUITY 2015 Share Repurchase Program During the three-month period ended June 30, 2015 Huntington repurchased a total of 8.8 million shares at a weighted average share price of $ 11.20 . Huntington repurchased a total of 13.8 million shares of common stock during the six-month period ended June 30, 2015 , at a weighted average price of $ 10.92 . On March 11, 2015 , Huntington announced that the Federal Reserv e 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 t hrough 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 rep urchase program consistent with Huntington’s capital plan. This program replaced the previously authorized share repurchase program authorized by Hunting ton’s board of directors in 2014. 2014 Share Repurchase Program During the three months ended June 30, 2014 Huntington repurchased a total of 12.1 million shares at a weighted average share price of $ 9.17 . Huntington repurchased a total of 26.7 million shares of common stock du ring the six months ended June 30, 2014 , at a weighted average price of $ 9.26 . |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | 11. 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 antidilut ive. 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 six-month periods ended June 30, 2015 and 2014 , was as follows: Three Months Ended Six Months Ended March 31, June 30, (dollar amounts in thousands, except per share amounts) 2015 2014 2015 2014 Basic earnings per common share: Net income $ 196,206 $ 164,619 $ 362,060 $ 313,762 Preferred stock dividends (7,968) (7,963) (15,933) (15,927) Net income available to common shareholders $ 188,238 $ 156,656 $ 346,127 $ 297,835 Average common shares issued and outstanding 806,891 821,546 808,335 825,603 Basic earnings per common share $ 0.23 $ 0.19 $ 0.43 $ 0.36 Diluted earnings per common share: Net income available to common shareholders $ 188,238 $ 156,656 $ 346,127 $ 297,835 Effect of assumed preferred stock conversion --- --- --- --- Net income applicable to diluted earnings per share $ 188,238 $ 156,656 $ 346,127 $ 297,835 Average common shares issued and outstanding 806,891 821,546 808,335 825,603 Dilutive potential common shares: Stock options and restricted stock units and awards 11,250 11,395 11,688 11,426 Shares held in deferred compensation plans 1,912 1,245 1,809 1,249 Other 185 501 191 268 Dilutive potential common shares: 13,347 13,141 13,688 12,943 Total diluted average common shares issued and outstanding 820,238 834,687 822,023 838,546 Diluted earnings per common share $ 0.23 $ 0.19 $ 0.42 $ 0.36 For the three-month periods ended June 30, 2015 and 2014 , approximately 1.5 million and 3.1 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. |
Benefit Plans
Benefit Plans | 3 Months Ended |
Jun. 30, 2015 | |
Benefit Plans [Abstract] | |
BENEFIT PLANS | 12. 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 ded uctible 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, 20 13. 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 pla n. For additional information on benefit plans, see the Benefit Plan footnote in our 2014 Form 10-K. On January 1, 2015, Huntington terminat ed the C ompany sponsored retiree health care plan for Medicare eligible retirees and their dependents. Instead, H untington partner ed 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 result ed in a reduction of expense over the estimated life of plan participants. The fo llowing 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 Three Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Service cost (1) $ 458 $ 435 $ --- $ --- Interest cost 7,984 8,100 142 259 Expected return on plan assets (11,044) (11,446) --- --- Amortization of prior service cost --- --- (492) (339) Amortization of gain 1,984 1,442 (116) (144) Settlements 3,100 2,500 --- --- Benefit expense $ 2,482 $ 1,031 $ (466) $ (224) (1) Since no participants will be earning benefits after December 31, 2013, the 2014 and 2015 service cost represents only administrative expenses. Pension Benefits Post Retirement Benefits Six Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Service cost (1) $ 915 $ 870 $ --- $ --- Interest cost 15,969 16,200 283 518 Expected return on plan assets (22,087) (22,892) --- --- Amortization of prior service cost --- --- (984) (678) Amortization of gain 3,966 2,884 (232) (288) Settlements 5,650 5,000 --- --- Benefit expense $ 4,413 $ 2,062 $ (933) $ (448) (1) Since no participants will be earning benefits after December 31, 2013, the 2014 and 2015 service cost represents only administrative expenses. The Bank, as trustee, held all Plan assets at June 30, 2015 and December 31, 2014 . The Plan assets consisted of the following investments : Fair Value (dollar amounts in thousands) June 30, 2015 December 31, 2014 Cash equivalents: Huntington funds - money market $ 6,164 1 % $ 16,136 2 % Fixed income: Corporate obligations 205,362 33 218,077 33 U.S. government obligations 59,893 9 62,627 10 Mutual funds - fixed income 36,393 6 34,761 5 U.S. government agencies 7,008 1 7,445 1 Equities: Mutual funds - equities 154,152 24 147,191 23 Other common stock 123,805 20 118,970 18 Huntington funds 25,564 4 37,920 6 Exchange traded funds 7,034 1 6,840 1 Limited partnerships 5,160 1 3,046 1 Fair value of plan assets $ 630,535 100 % $ 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 June 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. The investment objective of the Plan is to maximize the return on Plan assets over a long time period, while meeting the Plan obligations. At June 30, 2015 , Plan assets were invested 50 % in equity investments, 49 % in bonds, and 1% in cash with an average duration of 12. 21 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 investm ents 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. Hunti ngton 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 i ts 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 matc hes participant contributions, up to the first 4 % of base pay contributed to the P lan. For 2014, a discretionary profit-sharing contribution equal to 1% of eligible participants’ 2014 base pay was awarded . The following table shows the costs of providing the SERP, SRIP, and defined contribution plans: Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 SERP & SRIP $ 578 $ 487 $ 1,157 $ 963 Defined contribution plan 8,078 8,810 15,523 14,914 Benefit cost $ 8,656 $ 9,297 $ 16,680 $ 15,877 |
Income Taxes
Income Taxes | 3 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 13. INCOME TAXES Provision for Income Taxes The provision for income taxes in the 2015 second quarter was $64.1 million. This compared with a provision for income taxes of $57.5 million in the 2014 second quarte r . The provision for income taxes for the six month periods ended June 30, 2015 and June 30, 2014 was $118.1 million and $109.6 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 June 30, 2015 there is no capital loss carryforward valuation allowance remaining. The net federal deferred tax asset was $30.6 million and the net state d eferred tax asset was $42.8 million at June 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 bee n completed through 2009. In the first quarter of 2013, the IRS began an examination of 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 June 30, 2015, Huntington had gross unrecognized tax benefits of $25.5 million in income tax liability related to uncertain tax positions. Total interest accrued on the unrecognized tax benefits was $0.3 million as of June 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 r esolution may result in a payment that is materially different from the current estimate of the tax liabilities. It is reasonably possible that the liability for gross unrecognized tax benefits could decrease by $23.1 million during the next 12 months due to the completion of tax authority examinations. |
Fair Values of Assets and Liabi
Fair Values of Assets and Liabilities | 3 Months Ended |
Jun. 30, 2015 | |
Fair Values of Assets and Liabilities [Abstract] | |
FAIR VALUES OF ASSETS AND LIABILITIES | 14. 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 – input s 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 investm ent 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 indire ctly, 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, m unicipal securities and other se curities. 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 c omparable 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 valu es 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 mea surement 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 condit ions 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 grea ter 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 review s are supported with analysis from independent third parties, and are used as a basis for impairment analysis. P rivate-label CMO securities are collateralized by first-lien residential mortgage loans. The securities valuation methodology incorporates val ues 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. CDO -preferred securities are CDOs backed by a pool of debt securities issued by financial institutions. The collatera l 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 t his 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 observab le transactions in the market and many of the original sponsors or dealers for these securities are no longer able to provide a fair valu e. 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 t o account for the se 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 p repayment 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 sec urity 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 an d prep ayment 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 . Derivatives 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 comm itments. 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 p rice would result in a significantly higher or lower fair value measurement . Assets and Liabilities measured at fair value on a recurring basis Assets and liabilities measured at fair value on a recurring basis at June 30, 2015 and December 31, 2014 are summarized below: Fair Value Measurements at Reporting Date Using Netting Balance at (dollar amounts in thousands) Level 1 Level 2 Level 3 Adjustments (1) June 30, 2015 Assets Loans held for sale $ --- $ 453,489 $ --- $ --- $ 453,489 Loans held for investment --- 34,997 --- --- 34,997 Trading account securities: U.S. Treasury securities --- --- --- --- --- Federal agencies: Mortgage-backed --- --- --- --- --- Federal agencies: Other agencies --- 8,506 --- --- 8,506 Municipal securities --- 4,182 --- --- 4,182 Other securities 32,908 13,550 --- --- 46,458 32,908 26,238 --- --- 59,146 Available-for-sale and other securities: U.S. Treasury securities 12,600 --- --- --- 12,600 Federal agencies: Mortgage-backed --- 6,161,270 --- --- 6,161,270 Federal agencies: Other agencies --- 329,184 --- --- 329,184 Municipal securities --- 401,520 1,716,845 --- 2,118,365 Private-label CMO --- 8,575 29,429 --- 38,004 Asset-backed securities --- 689,246 102,071 --- 791,317 Corporate debt --- 454,584 --- --- 454,584 Other securities 13,555 3,897 --- --- 17,452 26,155 8,048,276 1,848,345 --- 9,922,776 Automobile loans --- --- 3,998 --- 3,998 MSRs --- --- 20,681 --- 20,681 Derivative assets --- 469,106 6,399 (97,876) 377,629 Liabilities Derivative liabilities --- 313,377 1,233 (21,466) 293,144 Short-term borrowings --- 16,037 --- --- 16,037 Fair Value Measurements at Reporting Date Using Netting Balance at (dollar amounts in thousands) Level 1 Level 2 Level 3 Adjustments (1) December 31, 2014 Assets Loans held for sale $ --- $ 354,888 $ --- $ --- $ 354,888 Loans held for investment --- 40,027 --- --- 40,027 Trading account securities: U.S. Treasury securities --- --- --- --- --- Federal agencies: Mortgage-backed --- --- --- --- --- 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 table s below present a rollforward of the balance sheet amounts for the six-month periods ended June 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 be low include changes in fair value due in part to observable factors that are part of the valuation methodology . Level 3 Fair Value Measurements Three Months Ended June 30, 2015 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities loans Opening balance $ 20,455 $ 7,825 $ 1,635,808 $ 30,072 $ 89,155 $ 6,495 Transfers into Level 3 --- --- --- --- --- --- Transfers out of Level 3 --- --- --- --- --- --- Total gains/losses for the period: Included in earnings 226 (1,780) --- 11 6 (213) Included in OCI --- --- 2,677 505 14,351 --- Purchases/originations --- --- 99,031 --- --- --- Sales --- --- --- --- --- --- Repayments --- --- --- --- --- (2,284) Issues --- --- --- --- --- --- Settlements --- (879) (20,671) (1,159) (1,441) --- Closing balance $ 20,681 $ 5,166 $ 1,716,845 $ 29,429 $ 102,071 $ 3,998 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 $ 226 $ (1,780) $ 2,677 $ 505 $ 14,351 $ (213) Level 3 Fair Value Measurements Three Months Ended June 30, 2014 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities loans Opening balance $ 30,628 $ 3,700 $ 734,378 $ 31,897 $ 109,969 $ 37,268 Transfers into Level 3 --- --- --- --- --- --- Transfers out of Level 3 --- --- --- --- --- --- Total gains/losses for the period: Included in earnings (3,881) 2,957 --- 7 15 (201) Included in OCI --- --- (14,061) 249 2,887 --- Purchases/originations --- --- 501,094 --- --- --- Sales --- --- --- --- --- --- Repayments --- --- --- --- --- (11,569) Issues --- --- --- --- --- --- Settlements --- (461) (14,956) (520) (6,410) --- Closing balance $ 26,747 $ 6,196 $ 1,206,455 $ 31,633 $ 106,461 $ 25,498 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 $ (3,881) $ 2,957 $ (14,061) $ 249 $ 2,887 $ (201) Level 3 Fair Value Measurements Six Months Ended June 30, 2015 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities 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 (2,105) 3,221 --- 27 6 (426) Included in OCI --- --- (1,315) 523 21,863 --- Purchases/originations --- --- 342,028 --- --- (6,166) Sales --- --- --- --- --- --- Repayments --- --- --- --- --- --- Issues --- --- --- --- --- --- Settlements --- (1,415) (41,461) (1,585) (2,536) --- Closing balance $ 20,681 $ 5,166 $ 1,716,845 $ 29,429 $ 102,071 $ 3,998 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 $ (2,105) $ 3,221 $ (1,315) $ 523 $ 21,863 $ (426) Level 3 Fair Value Measurements Six Months Ended June 30, 2014 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities 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 (7,489) 4,632 --- 17 37 (452) Included in OCI --- --- (6,789) 500 14,429 --- Purchases/originations --- --- 581,278 --- --- --- Sales --- --- --- --- --- --- Repayments --- --- --- --- --- (26,336) Issues --- --- --- --- --- --- Settlements --- (826) (22,571) (1,024) (15,424) --- Closing balance $ 26,747 $ 6,196 $ 1,206,455 $ 31,633 $ 106,461 $ 25,498 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 $ (7,489) $ 4,632 $ (6,789) $ 500 $ 14,430 $ (452) 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 six-month periods ended June 30, 2015 and 2014 : Level 3 Fair Value Measurements Three Months Ended June 30, 2015 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities loans Classification of gains and losses in earnings: Mortgage banking income $ 226 $ (1,780) $ --- $ --- $ --- $ --- Securities gains (losses) --- --- --- --- --- --- Interest and fee income --- --- --- 11 6 (213) Noninterest income --- --- --- --- --- --- Total $ 226 $ (1,780) $ --- $ 11 $ 6 $ (213) Level 3 Fair Value Measurements Three Months Ended June 30, 2014 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities loans Classification of gains and losses in earnings: Mortgage banking income $ (3,881) $ 2,957 $ --- $ --- $ --- $ --- Securities gains (losses) --- --- --- --- --- --- Interest and fee income --- --- --- 7 15 (244) Noninterest income --- --- --- --- --- 43 Total $ (3,881) $ 2,957 $ --- $ 7 $ 15 $ (201) Level 3 Fair Value Measurements Six Months Ended June 30, 2015 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities loans Classification of gains and losses in earnings: Mortgage banking income $ (2,105) $ 3,221 $ --- $ --- $ --- $ --- Securities gains (losses) --- --- --- --- --- --- Interest and fee income --- --- --- 27 6 (426) Noninterest income --- --- --- --- --- --- Total $ (2,105) $ 3,221 $ --- $ 27 $ 6 $ (426) Level 3 Fair Value Measurements Six Months Ended June 30, 2014 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities loans Classification of gains and losses in earnings: Mortgage banking income $ (7,489) $ 4,632 --- $ --- $ --- $ --- Securities gains (losses) --- --- --- --- --- --- Interest and fee income --- --- --- 17 37 (576) Noninterest income --- --- --- --- --- 124 Total $ (7,489) $ 4,632 $ --- $ 17 $ 37 $ (452) 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 : June 30, 2015 December 31, 2014 Fair value Aggregate Fair value Aggregate carrying unpaid carrying unpaid (dollar amounts in thousands) amount principal Difference amount principal Difference Assets Loans held for sale $ 453,489 $ 442,306 $ 11,183 $ 354,888 $ 340,070 $ 14,818 Loans held for investment 34,997 35,776 (779) 40,027 40,938 (911) Automobile loans 3,998 3,856 142 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 six-month periods ended June 30, 2015 and 2014 : Net gains (losses) from fair value changes Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Assets Loans held for sale $ (6,559) $ (5,378) $ (5,557) $ 7,497 Automobile loans (213) (201) (426) (452) Gains (losses) included in fair value changes associated with instrument specific credit risk Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Assets Automobile loans $ 5 $ 251 $ 70 $ 573 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. A ssets measu red at fair value on a nonrecurring basis were as follows: Fair Value Measurements Using Quoted Prices Significant Significant Total Total In Active Other Other Gains/(Losses) Gains/(Losses) Markets for Observable Unobservable For the Three For the Six Identical Assets Inputs Inputs Months Ended Months Ended (dollar amounts in thousands) Fair Value (Level 1) (Level 2) (Level 3) June 30, 2015 June 30, 2015 MSRs $ 141,611 $ --- --- $ 141,611 $ 12,970 $ 4,980 Impaired loans 86,199 --- --- 86,199 5,171 (4,350) Other real estate owned 29,232 --- --- 29,232 1,430 3,263 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 collater al less cost to sell , an im pairment charge is recognized. MSR’s 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 pro perties 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 June 30, 2015 . Signif icant unobservable inputs for assets and liabilities measured at fair value on a r ecurring 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 June 30, 2015 and December 31, 2014 : Quantitative Information about Level 3 Fair Value Measurements Significant Fair Value at Valuation Unobservable Range (dollar amounts in thousands) June 30, 2015 Technique Input (Weighted Average) MSRs $ 20,681 Discounted cash flow Constant prepayment rate 5.0% - 24.0% (14.0%) Spread over forward interest rate swap rates 325 - 1,166 (597) Net costs to service $26 - $120 ($47) Derivative assets 6,399 Consensus Pricing Net market price -4.8% - 18.5% (1.4%) Derivative liabilities 1,233 Estimated Pull through % 50.0% - 94.0% (78.0%) Municipal securities 1,716,845 Discounted cash flow Discount rate 0.5% - 3.8% (2.6%) Private-label CMO 29,429 Discounted cash flow Discount rate 2.7% - 7.4% (6.0%) Constant prepayment rate 12.0% - 32.6% (20.0%) Probability of default 0.1% - 4.0% (0.7%) Loss severity 0.0% - 64.0% (34.8%) Asset-backed securities 102,071 Discounted cash flow Discount rate 4.3% - 11.3% (5.8%) Cumulative prepayment rate 0.0% - 100.0% (8.9%) Cumulative default 1.8% - 100.0% (14.4%) Loss given default 85.0% - 100.0% (96.0%) Cure given deferral 0.0% - 75.0% (41.7%) Automobile loans 3,998 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 86,199 Appraisal value NA NA Other real estate owned 29,232 Appraisal value NA NA Quantitative Information about Level 3 Fair Value Measurements Fair Value at Valuation Significant Range (dollar amounts in thousands) December 31, 2014 Technique Unobservable Input (Weighted Average) MSRs $ 22,786 Discounted cash flow Constant prepayment rate 7% - 26% (16%) Spread over forward interest rate swap rates 228 - 900 (546) Net costs to service $21 - $79 ($40) 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 T he 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 June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 Carrying Fair Carrying Fair (dollar amounts in thousands) Amount Value Amount Value Financial Assets Cash and short-term assets $ 1,451,378 $ 1,451,378 $ 1,285,124 $ 1,285,124 Trading account securities 59,146 59,146 42,191 42,191 Loans held for sale 548,054 548,054 416,327 416,327 Available-for-sale and other securities 10,254,871 10,254,871 9,384,670 9,384,670 Held-to-maturity securities 3,304,160 3,309,479 3,379,905 3,382,715 Net loans and leases 48,152,759 46,421,778 47,050,530 45,110,406 Derivatives 377,629 377,629 352,642 352,642 Financial Liabilities Deposits 53,473,179 53,835,268 51,732,151 52,454,804 Short-term borrowings 1,511,444 1,511,444 2,397,101 2,397,101 Long-term debt 5,854,584 5,830,328 4,335,962 4,286,304 Derivatives 293,144 293,144 284,255 284,255 The following table presents the level in the fair value hierarchy for the estimated fair values of only Huntin gton’s financial instruments that are not already on the Unaudited Condensed Consolidated Balance Sheets at fair value at June 30, 2015 and December 31, 2014 : Estimated Fair Value Measurements at Reporting Date Using Balance at (dollar amounts in thousands) Level 1 Level 2 Level 3 June 30, 2015 Financial Assets Held-to-maturity securities $ --- $ 3,309,479 $ --- $ 3,309,479 Net loans and leases --- --- 46,421,778 46,421,778 Financial Liabilities Deposits --- 50,117,029 3,718,239 53,835,268 Short-term borrowings --- --- 1,511,444 1,511,444 Other long-term debt --- --- 5,830,328 5,830,328 Estimated Fair Value Measurements at Reporting Date Using Balance at (dollar amounts in thousands) Level 1 Level 2 Level 3 December 31, 2014 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 a ll 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 def inition 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. Ac cordingly, 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 Ma nagement. 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, exp |
Derivative Financial Instrument
Derivative Financial Instruments | 3 Months Ended |
Jun. 30, 2015 | |
Derivative Financial Instruments [Abstract] | |
DERIVATIVE FINANCIAL INSTRUMENTS | 15. Derivative Financial Instruments Derivative financial instruments are recorded in the Unaudited C ondensed C onsolidated B alance S heet 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. 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 a sset and l iability m anagement activities at June 30, 2015 , identified by the underlying interest rate-sensitive instruments: Fair Value Cash Flow (dollar amounts in thousands ) Hedges Hedges Total Instruments associated with: Loans $ --- $ 9,248,500 $ 9,248,500 Deposits 69,100 --- 69,100 Subordinated notes 475,000 --- 475,000 Long-term debt 4,035,000 --- 4,035,000 Total notional value at June 30, 2015 $ 4,579,100 $ 9,248,500 $ 13,827,600 The following table presents additional information about the interest rate swaps used in Huntington ’s a sset and l iability m anagement activities at June 30, 2015 : Average Weighted-Average Notional Maturity Fair Rate (dollar amounts in thousands ) Value (years) Value Receive Pay Asset conversion swaps Receive fixed - generic $ 9,248,500 1.5 $ 10,249 0.80 % 0.27 % Total asset conversion swaps 9,248,500 1.5 10,249 0.80 0.27 Liability conversion swaps Receive fixed - generic 4,579,100 2.9 64,851 1.61 0.29 Total liability conversion swaps 4,579,100 2.9 64,851 1.61 0.29 Total swap portfolio $ 13,827,600 1.9 $ 75,100 1.07 % 0.27 % 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 $ 26.2 million and $ 24.7 million for the three-month periods ended June 30, 2015 , and 2014 , respectively. For the six-month periods ended June 30, 2015 and 2014 , the net amounts resulted in an increase to net interest income of $ 50.9 million and $ 49.3 million, respectively. In connection with the sale of H untington'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 l itigation. At June 30, 2015 , the fair value of the swap liability of $ 0.4 million is an estimate of the exposure liability based upon Huntington’s assessm ent of the potential Visa litigation losses . The following table presents the fair values at June 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: June 30, December 31, (dollar amounts in thousands) 2015 2014 Interest rate contracts designated as hedging instruments $ 75,745 $ 53,114 Interest rate contracts not designated as hedging instruments 172,693 183,610 Foreign exchange contracts not designated as hedging instruments 39,477 32,798 Commodities contracts not designated as hedging instruments 174,510 180,218 Total contracts $ 462,425 $ 449,740 Liability derivatives included in accrued expenses and other liabilities: June 30, December 31, (dollar amounts in thousands) 2015 2014 Interest rate contracts designated as hedging instruments $ 645 $ 12,648 Interest rate contracts not designated as hedging instruments 102,403 110,627 Foreign exchange contracts not designated as hedging instruments 38,251 29,754 Commodities contracts not designated as hedging instruments 171,967 179,180 Total contracts $ 313,266 $ 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 i n fair value on the hedged item for the three-month and six-month periods ended June 30, 2015 and 2014 : Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Interest rate contracts Change in fair value of interest rate swaps hedging deposits (1) $ (245) $ (238) $ (458) $ (505) Change in fair value of hedged deposits (1) 236 228 450 494 Change in fair value of interest rate swaps hedging subordinated notes (2) (7,362) 3,015 (4,131) 4,081 Change in fair value of hedged subordinated notes (2) 7,362 (3,015) 4,131 (4,081) Change in fair value of interest rate swaps hedging other long-term debt (2) (8,129) 10,303 11,896 6,252 Change in fair value of hedged other long-term debt (2) 7,382 (9,948) (12,263) (3,474) (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 non interest 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 fro m OCI into earnings for the three-month and six-month periods ended June 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 Three Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Interest rate contracts Loans $ (539) $ 17,714 Interest and fee income - loans and leases $ (118) $ (895) Investment Securities --- --- Noninterest income - other income (20) 82 Total $ (539) $ 17,714 $ (138) $ (813) 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) Six Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Interest rate contracts Loans $ 17,756 $ 19,537 Interest and fee income - loans and leases $ (250) $ (3,787) Investment Securities --- --- Interest and fee income - investment securities (11) 82 Total $ 17,756 $ 19,537 $ (261) $ (3,705) 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 $ 18.1 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 o n the ineffective portion on interest rate contracts for derivatives designated as cash flow hedges for the three-month and six-month periods ended June 30, 2015 and 2014 : Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Derivatives in cash flow hedging relationships Interest rate contracts Loans $ 133 $ (161) $ (30) $ (29) 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. Commodity der ivatives help the customer hedge risk and reduce exposure to price changes in commodities. Activity related to commodity derivatives is concentrated in large corporate, middle market, and energy sectors. Commodities markets trade and include oil, refined p roducts, natural gas, coal, as well as industrial and precious metals. The energy sector focuses on oil, gas, and coal. Based on policy limits and the relatively small notional amounts of commodity activity, we do not anticipate any meaningful price risk for our commodity derivatives. Interest rate options grant the option holder the right to buy or sell an underlying financial instrument for a predetermined price before the contract expires. Interest rate futures are commitments to either purchase or sel l a financial instrument at a future date for a specified price or yield and may be settled in cash or through delivery of the underlying financial instrument. Interest rate caps and floors are option-based contracts that entitle the buyer to receive cash payments based on the difference between a designated reference rate and a strike price, applied to a notional amount. Written options, primarily caps, expose Huntington to market risk but not credit risk. Purchased options contain both credit and market risk. The interest rate risk of these 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 val ues 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 June 30, 2015 and December 31, 2014 , were $ 74.0 mi llion and $ 74.4 million, respectively. The total notional values of derivative financial instruments used by Huntington on behalf of customers, includin g offsetting derivatives, were $ 15.3 billion and $ 14.4 billion at June 30, 2015 and December 31, 2014 , respectively . Huntington’s credit risks from interest rate swaps used for trading purposes were $ 200.0 million and $ 219.3 million at the same dates, respectively. Huntington manages credit risk of its derivative positions by diversifying its positions among various counterparties, entering into master netting arrangements where possible with its counterparties, requiring collateral and, in certain cases, transferring the counterparty credit risk related to interest rate swaps to and from other financial institutions through the use of risk participation arrangements . Huntington's notional exposure for interest rate swaps originated by other fin ancial institutions was $ 416.5 million and $ 456.7 million at June 30, 2015 and December 31, 2014 , respectively. The fair value of these risk participations was $ 7.2 million at June 30, 2015 and December 31, 2014 . 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. 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 derivative s are carried on the Unaudited Condensed Consolidated Balance Sheet s 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 enter s into derivative transactions with two primary groups: broker-dealers and banks, and Huntington’s customers. D ifferent methods are utilized for managing counterparty credit exposure and credit risk for each of these groups. Huntington enter s into transactions with broker-dealers and banks for various risk management purposes. These types of transactions generally are high dollar volume. Huntington enter s into bilateral collateral and master netting agreements with these counterparties, and routinely exchange cash and high quality securities collateral with these counterparties. Huntington enter s 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 enter s into master netting agreements with customer counterparties, however collateral is generally not exchanged with customer counterparties. At June 30, 2015 and December 31, 2014 , aggregate credit risk associated with these derivatives, net of collateral that has been pledged by the counterparty, was $ 17.1 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 June 30, 2015 , Huntington pledged $ 79.9 million of investment securities and cash collateral to counterparties, while other counterparties pledged $ 140.1 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 table s 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 June 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 June 30, 2015 Derivatives $ 493,374 $ (115,745) $ 377,629 $ (38,544) $ (3,688) $ 335,397 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 June 30, 2015 Derivatives $ 332,479 $ (39,335) $ 293,144 $ (59,024) $ (268) $ 233,852 December 31, 2014 Derivatives 363,192 (78,937) 284,255 (78,654) (111) 205,490 Derivatives used in m ortgage banking activities Huntington also uses certain derivative financial instruments to offset changes in value of its residential MSRs. These derivatives consist primarily of forward interest rate agreements and forward commitments to deliver mortgage-backed securities . The derivative instruments used are not designated as hedges. Accordingly, such derivatives are recorded at fair value with changes in fair value reflected in mortgage banking income . The following table summarizes the derivative assets and liabilities used in mortgage banking activities June 30, December 31, (dollar amounts in thousands) 2015 2014 Derivative assets: Interest rate lock agreements $ 6,399 $ 4,064 Forward trades and options 6,681 35 Total derivative assets 13,080 4,099 Derivative liabilities: Interest rate lock agreements (788) (259) Forward trades and options (556) (3,760) Total derivative liabilities (1,344) (4,019) Net derivative asset (liability) $ 11,736 $ 80 The total notional value of these derivative financial instruments at June 30, 2015 and December 31, 2014 , was $ 0.7 billion and $ 0.6 billion, respectively. The total notional amount at June 30, 2015 , corresponds to trading assets with a fair value of $ 1.8 million and trading liabilities with a fair value of $ 1.3 million . Net trading gains and (losses) related to MSR he dging for the three-month periods ended June 30, 2015 and 2014 , were $ (8.5) millio n and $ 2.3 million, and $ (3.8) million and $ 4.0 million for the six-month periods ended June 30, 2015 and 2014 , respectively. These amounts are included in mortgage banking income in the Unaudited Conden sed Consolidated Statements of Income. |
Variable Interest Entities
Variable Interest Entities | 3 Months Ended |
Jun. 30, 2015 | |
Variable Interest Entities [Abstract] | |
VARIABLE INTEREST ENTITIES | 16. VIEs Consolidated VIEs Consolidated VIEs at June 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 signific ant to the VIE or the right to receive benefits from the entity that could potentiall y be significant to the VIE. During the 2015 first quarter, Huntington acquired two securitization trusts with its acquisition of HTF . The following tables present t he carrying amount and classification of the consolidated trusts’ assets and liabilities that were included in the Unaudited Condensed Consolidated Balance Sheet s at June 30, 2015 and December 31, 2014 : June 30, 2015 Huntington Technology Funding Trust Other Series Series Consolidated (dollar amounts in thousands) 2012A 2014A Trusts Total Assets: Cash $ --- $ --- $ --- $ --- Loans and leases 50,844 209,594 --- 260,438 Allowance for loan and lease losses --- --- --- --- Net loans and leases 50,844 209,594 --- 260,438 Accrued income and other assets --- --- 229 229 Total assets $ 50,844 $ 209,594 $ 229 $ 260,667 Liabilities: Other long-term debt $ 42,103 $ 176,996 $ --- $ 219,099 Accrued interest and other liabilities --- --- 229 229 Total liabilities $ 42,103 $ 176,996 $ 229 $ 219,328 Equity: Beneficial Interest owned by third party $ 8,741 $ 32,598 $ --- $ 41,339 Total liabilities and equity $ 50,844 $ 209,594 $ 229 $ 260,667 December 31, 2014 Other Consolidated (dollar amounts in thousands) Trusts 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. Unc onsolidated VIEs The following table s provide a summary of the assets and liabilities included i n 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 June 30, 2015 , and December 31, 2014 : June 30, 2015 (dollar amounts in thousands) Total Assets Total Liabilities Maximum Exposure to Loss 2015-1 Automobile Trust $ 10,838 $ --- $ 10,838 2012-1 Automobile Trust 895 --- 895 2012-2 Automobile Trust 1,836 --- 1,836 2011 Automobile Trust 386 --- 386 Tower Hill Securities, Inc. 46,688 65,000 46,688 Trust Preferred Securities 13,919 317,090 --- Low Income Housing Tax Credit Partnerships 397,297 174,573 397,297 Other Investments 84,050 25,387 84,050 Total $ 545,071 $ 582,050 $ 531,152 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 trust s in securitization transaction s . The securitization s and the resulting sale of all underlying securities qualified for sale accounting. Huntington has concluded that it is not the primary beneficiar y of th ese trust s because it has neither the obligation to absorb losses of the entit ies that could potentially be significant to the VIE s nor the right to receive benefits from the entit ies that could potentially be significant to the VIE s . Huntington is not required and does not currently intend to provide any additional financial support to the trust s . Investors and creditors only have recourse to the assets held by the trust s . The interest Huntington holds in the VIE s 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 cance lled the 2011 Automobile Trust. As a result, any remaining assets at the time of the cancellation will no longer be 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 mun icipal 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 affi liates. 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 C ondensed 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 subordinat ed 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 Con solidated Financial Statements. A list of trust preferred securities outstanding at June 30, 2015 follows: Principal amount of Investment in subordinated note/ unconsolidated (dollar amounts in thousands) Rate debenture issued to trust (1) subsidiary Huntington Capital I 0.98 % (2) $ 111,816 $ 6,186 Huntington Capital II 0.91 (3) 54,593 3,093 Sky Financial Capital Trust III 1.68 (4) 72,165 2,165 Sky Financial Capital Trust IV 1.67 (4) 74,320 2,320 Camco Financial Trust 2.72 (5) 4,196 155 Total $ 317,090 $ 13,919 (1) Represents the principal amount of debentures issued to each trust, including unamortized original issue discount. (2) Variable effective rate at June 30, 2015, based on three month LIBOR + 0.70. (3) Variable effective rate at June 30, 2015, based on three month LIBOR + 0.625. (4) Variable effective rate at June 30, 2015, based on three month LIBOR + 1.40. (5) Variable effective rate (including impact of purchase accounting accretion) at June 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 c ommon 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 righ t 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 PARTN ERSHIPS 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 inv estments 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 part nerships 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 partn ership. 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 pr operty, 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 l imited 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 t o 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 performi ng 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 invest ments 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 June 30, 2015 and December 31, 2014 . June 30, December 31, (dollar amounts in thousands) 2015 2014 Affordable housing tax credit investments $ 625,465 $ 576,381 Less: amortization (228,167) (208,098) Net affordable housing tax credit investments $ 397,298 $ 368,283 Unfunded commitments $ 174,573 $ 154,861 The following table presents other information relating to Huntington’s affordable housing tax credit investments for the three-month six-month periods ended June 30, 2015 and 2014. Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Tax credits and other tax benefits recognized $ 14,434 $ 13,744 $ 30,181 $ 28,061 Proportional amortization method Tax credit amortization expense included in provision for income taxes 11,218 9,518 22,292 18,877 Equity method Tax credit investment losses included in non-interest income 147 223 294 446 Huntington recognized immaterial impairment losses on tax credit investments during the three-month periods ended June 30, 2015 and 2014 . |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 3 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingent Liabilities [Abstract] | |
COMMITMENTS AND CONTINGENT LIABILITIES | 17. 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 F inancial S tatements. The contract ual amounts of these financial agreements at June 30, 2015 and December 31, 2014 , were as follows: June 30, December 31, (dollar amounts in thousands) 2015 2014 Contract amount represents credit risk: Commitments to extend credit Commercial $ 10,898,478 $ 11,181,522 Consumer 8,053,179 7,579,632 Commercial real estate 925,688 908,112 Standby letters-of-credit 487,366 497,457 Commercial letters-of-credit 24,662 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 r ate 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 part y. 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 as sociated with these guarantees was $ 6.9 million and $ 4.4 million at June 30, 2015 and December 31, 2014 , respectively. Through the Company’s credit process, Huntington monitors the credit risks of outstanding standby letters-of- credit. Wh en 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 June 30, 2015 , Huntington had $ 487.3 m illion of standby letters-of- credit outstanding, of which 81 % were collateralized. Included in this $ 487.3 m illion 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. Th is same loan grading system is used to monitor credit risk associated with standby letters-of- credit. Under this grading system as of June 30, 2015 , approximately $ 161 million of the standby letters-of- credit were rated strong with sufficient asset quality, liquidity, and good debt capacity an d coverage ; approximately $ 327 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- credi t 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 relat ed to our mortgage origination activity supports the hedging of the mortgage pricing commitments to customers and the secondary sale to third parties. At June 30, 2015 and December 31, 2014 , Huntington had commitments to sell residential real estate loans of $ 807.9 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 intere sts 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 an d outstanding legal cases, matters and proceedings, utilizing the latest informatio n 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 t o 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 appro ximately $ 105.0 million at June 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 (includin g 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, mat ters, 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 reso lution of these cases, matters, and proceedings, if unfavorable, may be material to the Company’s consolidated financial position in a particular period. The Bank has been named a defendant in two lawsuits, arising from the Bank’s commercial lending, depo sitory, 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, 2 004, 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 Cyberc o 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, 2 012. 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 her affirmative case, alleging the fraudulent transfers t o 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 a n 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 her 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 is conducting a de novo review of the fact findings and legal conclusions in the Bankruptcy Court’s report and recommendation. It ha s not issued a ruling to date. 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 acti on 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 assig nment 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 iss ued 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 oth er cases. The Bank is a d efendant 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 plead ings, asserting that West Virginia law is preempted by federal law and therefore does not apply to the Bank. |
Segment Reporting
Segment Reporting | 3 Months Ended |
Jun. 30, 2015 | |
Segment Reporting [Abstract] | |
SEGMENT REPORTING | 18 . 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 June 30, 2015 , December 31, 2014 , and June 30, 2014 , reported results by business segment: Three Months Ended June 30, Retail & Income Statements Business Commercial Home Treasury/ Huntington (dollar amounts in thousands) Banking Banking AFCRE RBHPCG Lending Other Consolidated 2015 Net interest income $ 256,921 $ 94,413 $ 95,042 $ 27,751 $ 16,353 $ 206 $ 490,686 Provision (reduction in allowance) for credit losses 19,401 (3,027) 3,498 1,596 (1,049) --- 20,419 Noninterest income 112,938 70,344 11,574 37,963 31,976 16,978 281,773 Noninterest expense 260,344 76,373 37,855 63,220 41,639 12,346 491,777 Income taxes 31,540 31,994 22,842 314 2,709 (25,342) 64,057 Net income $ 58,574 $ 59,417 $ 42,421 $ 584 $ 5,030 $ 30,180 $ 196,206 2014 Net interest income $ 228,343 $ 76,980 $ 97,304 $ 25,722 $ 14,349 $ 17,350 $ 460,048 Provision (reduction in allowance) for credit losses 33,974 8,499 (17,542) (145) 4,599 --- 29,385 Noninterest income 107,533 50,305 9,047 46,870 18,821 17,491 250,067 Noninterest expense 245,839 65,453 38,690 60,025 32,843 15,786 458,636 Income taxes 19,622 18,667 29,821 4,449 (1,495) (13,589) 57,475 Net income $ 36,441 $ 34,666 $ 55,382 $ 8,263 $ (2,777) $ 32,644 $ 164,619 Six Months Ended June 30, Retail & Income Statements Business Commercial Home Treasury/ Huntington (dollar amounts in thousands) Banking Banking AFCRE RBHPCG Lending Other Consolidated 2015 Net interest income $ 505,571 $ 169,331 $ 190,204 $ 54,575 $ 31,630 $ 7,060 $ 958,371 Provision for credit losses 26,553 3,807 2,115 4,241 4,294 --- 41,010 Noninterest income 208,696 125,237 16,249 78,388 50,634 34,192 513,396 Noninterest expense 516,525 132,790 74,033 121,848 77,427 28,011 950,634 Income taxes 59,916 55,290 45,607 2,406 190 (45,346) 118,063 Net income $ 111,273 $ 102,681 $ 84,698 $ 4,468 $ 353 $ 58,587 $ 362,060 2014 Net interest income $ 448,184 $ 147,923 $ 185,884 $ 51,160 $ 27,377 $ 37,026 $ 897,554 Provision for credit losses 41,434 20,046 (26,149) 2,174 16,510 --- 54,015 Noninterest income 200,495 100,621 13,540 89,984 39,107 54,805 498,552 Noninterest expense 481,114 125,873 76,853 116,048 67,966 50,903 918,757 Income taxes 44,146 35,919 52,052 8,023 (6,297) (24,271) 109,572 Net income $ 81,985 $ 66,706 $ 96,668 $ 14,899 $ (11,695) $ 65,199 $ 313,762 Assets at Deposits at June 30, December 31, June 30, December 31, (dollar amounts in thousands) 2015 2014 2015 2014 Retail & Business Banking $ 15,685,507 $ 15,146,857 $ 29,983,334 $ 29,350,255 Commercial Banking 16,232,517 15,043,477 10,908,387 11,184,566 AFCRE 16,517,075 16,027,910 1,518,905 1,377,921 RBHPCG 3,453,395 3,871,020 7,265,046 6,727,892 Home Lending 4,076,919 3,949,247 339,631 326,841 Treasury / Other 12,880,235 12,259,499 3,457,876 2,764,676 Total $ 68,845,648 $ 66,298,010 $ 53,473,179 $ 51,732,151 |
Business Combinations
Business Combinations | 3 Months Ended |
Jun. 30, 2015 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | 19 . BUSINESS COMBINATIONS MACQUARIE EQUIPMENT FINANCE On March 31, 2015, Huntington completed its acquisition of Macquarie , subsequently rebranded HTF, 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 va lues 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 as sets. 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 o f 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. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Loans Past Due, Policy [Policy Text Block] | 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. |
Nonaccrual Loans, Policy [Policy Text Block] | 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 mo rtgage loans are placed on nonaccrual status at 150 -days past due, with the exception of residential mortgages guaranteed by government organizations . Firs t -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 identifie d 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 rever sed with current year accruals charged to interest income, and prior year amounts charged-off 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-re affirmed 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 borrow er’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 a bility 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 . |
Allowance for Loan Losses, Policy [Policy Text Block] | 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 e xperience 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 quant ifying 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 increasin g 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 boa rd 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 genera l 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 regula rly 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 p erformance 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 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 using a 24-month loss emergence period. 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 credi t 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 avail able 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 frequen tly 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 meas urements 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 ot her 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 b y 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 th is 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 r eserve 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 re serve 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 . |
Chargeoff, Policy [Policy Text Block] | 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 va lue, 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. |
Impaired Loans, Policy [Policy Text Block] | For all classes within the C&I and CRE portfolios, all loans with an outstanding balance of $ 1.0 million or greater are considered for individual evaluation on a quarterly basis for impairment. Generally, consumer loans within any class are not individually evaluated on a regular basis for impairment. A ll TDRs, regardless of the outstanding balance amount, are also considered to be impaired. L oans acquired with evidence of deterioration of credit quality since origination for which it is probable at acquisition that all contractually required payments will not be collected are also considered to be impaired. Once a loan has been identified for an assessme nt of impairment, the loan is considered impaired when, based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected. This determination requires significant ju dgment and use of estimates, and the eventual outcome may differ significantly from those estimates. |
Troubled Debt Restructuring, Policy [Policy Text Block] | TDRs are modified loans where a concession was provided to a borrower experiencing financial difficulties. Loan modifications are considered TDRs when the concessions provided are not available to the borrower through either normal channels or other sources. However, not all loan modifications are TDRs. TDR Concession Types The Company’s standards relating to loan modifications consider, among other factors, minimum verified income requirements, cash flow analys e s, and collateral valuations . Each potential loan modification is reviewed individually and the terms of the loan are modified to meet a borrower’s specific circumstances at a point in time. All commercial TDRs are reviewed and approved by our SAD . The types of concessions provided to borrowers include : ● Interest rate reduction: A reduction of the stated interest rate to a nonmarket rate for the remaining original life of the debt. ● Amortization or maturity date change beyond what the collateral supports, including any of the f ollowing: (1) Lengthens the amortization period of the amortized principal beyond market terms . This concession reduces the minimum monthly payment and could increase the amount of the balloon payment at the end of the term of the loan. Principal is g enerally not forgiven. (2) Reduces the amount of loan principal to be amortized and increases the amount of the balloon payment at the end of the term of the loan. This concession also reduces the minimum monthly payment. Principal is generally not fo rgiven. (3) Extends the maturity date or dates of the debt beyond what the collateral supports . This concession generally applies to loans without a balloon payment at the end of the term of the loan. ● Chapter 7 bankruptcy: A bankruptcy court’s discha rge of a borrower’s debt is considered a concession when the borrower does not reaffirm the discharged debt . ● Other: A concession that is not categorized as one of the concessions described above. These concessions include, but are not limited to: principal forgiveness, collateral concessions, covenant concessions, and reduction of accrued interest. Principal forgiveness may result from any TDR modification of any concession type. However, the aggregate amount of principal forgiven as a result of loans modified as TDRs during th e three-month and six-month periods ended June 30, 2015 and 2014 , was not significa nt . Following is a description of TDRs by the different loan types: Commercial loan TDRs – Commercial accruing TDRs often result from loans receiving a concession with terms that are not considered a market transaction to Huntington. The TDR remains in accruing status as long as the customer is less than 90-days past due on payments per the restructured loan terms and no loss is expected. Commercial nonaccrual TDRs result from either: (1) an accruing commercial TDR being placed on nonaccrual status, o r (2) a workout where an existing commercial NAL is restructured and a concession is given. At times, these workouts restructure the NAL so that two or more new notes are created. The primary note is underwritten based upon our normal underwriting standa rds and is sized so projected cash flows are sufficient to repay contractual principal and interest. The terms on the secondary note(s) vary by situation, and may include notes that defer principal and interest payments until after the primary note is rep aid. Creating two or more notes often allows the borrower to continue a project or weather a temporary economic downturn and allows Huntington to right-size a loan based upon the current expectations for a borrower’s or project’s performance. Our strat egy involving TDR borrowers includes working with these borrowers to allow them to refinance elsewhere, as well as allow them time to improve their financial position and remain our customer through refinancing their notes according to market terms and con ditions in the future. A subsequent refinancing or modification of a loan may occur when either the loan matures according to the terms of the TDR-modified agreement or the borrower requests a change to the loan agreements. At that time, the loan is eval uated to determine if it is creditworthy. It is subjected to the normal underwriting standards and processes for other similar credit extensions, both new and existing. The refinanced note is evaluated to determine if it is considered a new loan or a con tinuation of the prior loan. A new loan is considered for removal of the TDR designation, whereas a continuation of the prior note requires a continuation of the TDR designation. In order for a TDR designation to be removed, the borrower must no longer b e experiencing financial difficulties and the terms of the refinanced loan must not represent a concession. Residential Mortgage loan TDRs – Residential mortgage TDRs represent loan modifications associated with traditional first-lien mortgage loans in w hich a concession has been provided to the borrower. The primary concessions given to residential mortgage borrowers are amortization or maturity date changes and interest rate reductions. Residential mortgages identified as TDRs involve borrowers unable to refinance their mortgages through the Company’s normal mortgage origination channels or through other independent sources. Some, but not all, of the loans may be delinquent. Automobile, Home Equity, and Other Consumer loan TDRs – The Company may ma ke similar interest rate, term, and principal concessions as with residential mortgage loan TDRs. TDR Impact on Credit Quality Huntington’s ALLL is largely determined by updated risk ratings assigned to commercial loans, updated borrower credit scores on consumer loans, and borrower delinquency history in both the commercial and consumer portfolios. These updated risk ratings and credit scores consider the default history of the borrower, including payment redefaults. As such, the provision for credit losses is impacted primarily by changes in borrower payment performance rather than the TDR classification. TDRs can be classified as either accrual or nonaccrual loans. Nonaccrual TDRs are included in NALs whereas accruing TDRs are excluded from NALs a s it is probable that all contractual principal and interest due under the restructured terms will be collected. Our TDRs may include multiple concessions and the disclosure classifications are presented based on the primary concession provided to the b orrower. The majority of our concessions for the C&I and CRE portfolios are the extension of the maturity date, but could also include an increase in the interest rate. In these instances, the primary concession is the maturity date extension. TDR concessions may also result in the reduction of the ALLL within the C&I and CRE portfolios. This reduction is derived from payments and the resulting application of the reserve calculation within the ALLL. The transaction reserve for non-TDR C&I and CRE loans is calcul ated based upon several estimated probability factors, such as PD and LGD, both of which were previously discussed. Upon the occurrence of a TDR in our C&I and CRE portfolios, the reserve is measured based on discounted expected cash flows or collateral v alue, less anticipated selling costs, of the modified loan in accordance with ASC 310-10. The resulting TDR ALLL calculation often results in a lower ALLL amount because (1) the discounted expected cash flows or collateral value, less anticipated selling costs, indicate a lower estimated loss, (2) if the modification includes a rate increase, the discounting of the cash flows on the modified loan, using the pre-modification interest rate, exceeds the carrying value of the loan, or (3) payments may occur as part of the modification. The ALLL for C&I and CRE loans may increase as a result of the modification, as the discounted cash flow analysis may indicate additional reserves are required. TDR concessions on consumer loans may increase the ALLL. The conc essions made to these borrowers often include interest rate reductions, and therefore, the TDR ALLL calculation results in a greater ALLL compared with the non-TDR calculation as the reserve is measured based on the estimation of the discounted expected ca sh flows or collateral value, less anticipated selling costs, on the modified loan in accordance with ASC 310-10. The resulting TDR ALLL calculation often results in a higher ALLL amount because (1) the discounted expected cash flows or collateral value, less anticipated selling costs, indicate a higher estimated loss or, (2) due to the rate decrease, the discounting of the cash flows on the modified loan, using the pre-modification interest rate, indicates a reduction in the expected cash flows or collate ral value, less anticipated selling costs. In certain instances, the ALLL may decrease as a result of payments made in connection with the modification. Commercial loan TDRs – In instances where the bank substantiates that it will collect its outstanding balance in full, the note is considered for return to accrual status upon the borrower sustaining sufficient cash flows for a six-month period of time. This six-month period could extend before or after the restructure date. If a charge-off was taken as part of the restructuring, any interest or principal payments received on that note are applied to first reduce the bank’s outstanding book balance and then to recoveries of charged-off principal, unpaid interest, and/or fee expenses while the TDR is in nonaccrual status. Residential Mortgage, Automobile, Home Equity, and Other Consumer loan TDRs – Modified loans identified as TDRs are aggregated into pools for analysis. Cas h flows and weighted average interest rates are used to calculate impairment at the pooled-loan level. Once the loans are aggregated into the pool, they continue to be classified as TDRs until contractually repaid or charged-off. Residential mortgage loans not guaranteed by a U.S. government agency such as the FHA, VA, and the USDA, including TDR loans, are reported as accrual or nonaccrual based upon delinquency status. Nonaccrual TDRs are those that are greater than 150-days contractually past due. Loans guaranteed by U.S. government organizations continue to accrue interest upon delinquency. |
Security Impairment, Policy [Policy Text Block] | Security Impairment |
Servicing Rights, Mortgage and Automobile, Policy [Policy Text Block] | 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 amortizat ion 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 i ncrease 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, wh ich is reflected in noninterest income in the Unaudited Condensed Consolidated Statements of Income . The following table summarizes activity relating to automobile loans sold and/or securitized with servicing retained |
Goodwill, Policy [Policy Text Block] | On March 31, 2015, Huntington completed its acquisition of Macquarie Equipment Finance, which was re-branded Huntington Technology Finance (HTF) . 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. 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. |
Fair Values of Financial Instruments, Policy [Policy Text Block] | The following table presents the level in the fair value hierarchy for the estimated fair values of only Huntin gton’s financial instruments that are not already on the Unaudited Condensed Consolidated Balance Sheets at fair value at June 30, 2015 and December 31, 2014 : |
Commitments and Contingencies, Policy [Policy Text Block] | Through the Company’s credit process, Huntington monitors the credit risks of outstanding standby letters-of- credit. Wh en 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. Huntington uses an internal grading system to assess an estimate of loss on its loan and lease portfolio. Th is same loan grading system is used to monitor credit risk associated with standby letters-of- credit. |
Variable Interest Entity, Policy [Policy Text Block] | 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 signific ant to the VIE or the right to receive benefits from the entity that could potentiall y be significant to the VIE. |
Loans and Leases and Allowanc29
Loans and Leases and Allowance for Credit Losses (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Loans / Leases and Allowance for Credit Losses [Abstract] | |
Loan and Lease Portfolio | The followin g table provides a detailed listing of Huntington’s loan and lease portfolio at June 30, 2015 and December 31, 2014 : June 30, December 31, (dollar amounts in thousands) 2015 2014 Loans and leases: Commercial and industrial $ 20,002,676 $ 19,033,146 Commercial real estate 5,213,793 5,197,403 Automobile 8,549,081 8,689,902 Home equity 8,526,276 8,490,915 Residential mortgage 5,987,000 5,830,609 Other consumer 473,475 413,751 Loans and leases 48,752,301 47,655,726 Allowance for loan and lease losses (599,542) (605,196) Net loans and leases $ 48,152,759 $ 47,050,530 |
Loans acquired with deteriorated credit quality | The following table presents a rollforward of the accretable yield for purchased credit impaired loans by acquisition f or the three-month and six-month periods ended June 30, 2015 and 2014 : Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 (dollar amounts in thousands) 2015 2014 2015 2014 Fidelity Bank Balance, beginning of period $ 20,191 $ 24,758 $ 19,388 $ 27,995 Accretion (2,990) (3,647) (5,864) (7,651) Reclassification from nonaccretable difference 2,111 3,485 5,788 4,252 Balance, end of period $ 19,312 $ 24,596 $ 19,312 $ 24,596 Camco Financial Balance, beginning of period $ 879 $ 134 $ 824 $ --- Impact of acquisition/purchase on March 1, 2014 --- --- --- 143 Accretion (914) (5,173) (1,250) (5,182) Reclassification from nonaccretable difference 716 5,193 1,107 5,193 Balance, end of period $ 681 $ 154 $ 681 $ 154 June 30, 2015 December 31, 2014 (dollar amounts in thousands) Ending Balance Unpaid Balance Ending Balance Unpaid Balance Fidelity Bank Commercial and industrial $ 20,122 $ 29,969 $ 22,405 $ 33,622 Commercial real estate 25,742 71,953 36,663 87,250 Residential mortgage 2,040 3,017 1,912 3,096 Other consumer 51 114 51 123 Total $ 47,955 $ 105,053 $ 61,031 $ 124,091 Camco Financial Commercial and industrial $ --- $ --- $ 823 $ 1,685 Commercial real estate 1,849 2,603 1,708 3,826 Total $ 1,849 $ 2,603 $ 2,531 $ 5,511 |
Loan Purchases and Sales | Commercial and Industrial Commercial Real Estate Automobile Home Equity Residential Mortgage Other Consumer Total (dollar amounts in thousands) Portfolio loans and leases purchased or transferred from held for sale during the: Three-month period ended June 30, 2015 $ 31,905 $ --- $ 262,037 (2) $ --- $ 75,403 $ --- $ 369,345 Six-month period ended June 30, 2015 $ 44,496 $ --- $ 262,037 (2) $ --- $ 107,037 $ --- $ 413,570 Three-month period ended June 30, 2014 $ 165,482 $ --- $ --- $ --- $ --- $ --- $ 165,482 Six-month period ended June 30, 2014 $ 205,603 $ --- $ --- $ --- $ --- $ --- $ 205,603 Portfolio loans and leases sold or transferred to loans held for sale during the: Three-month period ended June 30, 2015 $ 100,202 $ --- $ --- $ --- $ --- $ --- $ 100,202 Six-month period ended June 30, 2015 $ 185,902 $ --- $ 1,026,195 (1) $ --- $ --- --- $ 1,212,097 Three-month period ended June 30, 2014 $ 50,472 $ 7,395 $ --- $ --- $ --- $ 7,592 $ 65,459 Six-month period ended June 30, 2014 $ 104,731 $ 7,434 $ --- $ --- $ --- $ 7,592 $ 119,757 (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. |
NALs and Past Due Loans | The following table presents NALs by loan class at June 30, 2015 and December 31, 2014 : June 30, December 31, (dollar amounts in thousands) 2015 2014 Commercial and industrial: Owner occupied $ 44,864 $ 41,285 Other commercial and industrial 104,849 30,689 Total commercial and industrial $ 149,713 $ 71,974 Commercial real estate: Retail properties $ 18,314 $ 21,385 Multi family 5,647 9,743 Office 14,545 7,707 Industrial and warehouse 1,182 3,928 Other commercial real estate 4,200 5,760 Total commercial real estate $ 43,888 $ 48,523 Automobile $ 4,190 $ 4,623 Home equity: Secured by first-lien $ 42,424 $ 46,938 Secured by junior-lien 32,926 31,622 Total home equity $ 75,350 $ 78,560 Residential mortgage $ 91,198 $ 96,564 Other consumer $ --- $ --- Total nonaccrual loans $ 364,339 $ 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 June 30, 2015 and December 31, 2014 : (1) June 30, 2015 90 or more (dollar amounts in thousands) Past Due Total Loans days past due 30-59 Days 60-89 Days 90 or more days Total Current and Leases and accruing Commercial and industrial: Owner occupied $ 8,420 $ 3,328 $ 23,594 $ 35,342 $ 4,164,517 $ 4,199,859 $ --- Purchased credit-impaired 409 --- 4,765 5,174 14,948 20,122 4,765 (3) Other commercial and industrial 28,636 18,363 22,282 69,281 15,713,414 15,782,695 1,856 (2) Total commercial and industrial $ 37,465 $ 21,691 $ 50,641 $ 109,797 $ 19,892,879 $ 20,002,676 $ 6,621 Commercial real estate: Retail properties $ 425 $ 1,167 $ 3,356 $ 4,948 $ 1,350,570 $ 1,355,518 $ --- Multi family 2,092 12 2,477 4,581 1,116,003 1,120,584 --- Office 3,090 --- 1,929 5,019 925,921 930,940 --- Industrial and warehouse 420 327 430 1,177 499,910 501,087 --- Purchased credit-impaired 1,166 2,012 10,920 14,098 13,493 27,591 10,920 (3) Other commercial real estate 310 105 4,052 4,467 1,273,606 1,278,073 --- Total commercial real estate $ 7,503 $ 3,623 $ 23,164 $ 34,290 $ 5,179,503 $ 5,213,793 $ 10,920 Automobile $ 50,355 $ 10,373 $ 4,388 $ 65,116 $ 8,483,965 $ 8,549,081 $ 4,269 Home equity: Secured by first-lien $ 16,903 $ 7,266 $ 29,861 $ 54,030 $ 5,151,027 $ 5,205,057 $ 4,879 Secured by junior-lien 23,663 9,564 33,872 67,099 3,254,120 3,321,219 6,834 Total home equity $ 40,566 $ 16,830 $ 63,733 $ 121,129 $ 8,405,147 $ 8,526,276 $ 11,713 Residential mortgage: Residential mortgage $ 92,554 $ 37,877 $ 118,641 $ 249,072 $ 5,735,888 $ 5,984,960 $ 72,509 Purchased credit-impaired --- --- --- --- 2,040 2,040 --- Total residential mortgage $ 92,554 $ 37,877 $ 118,641 $ 249,072 $ 5,737,928 $ 5,987,000 $ 72,509 (4) Other consumer: Other consumer $ 5,624 $ 1,120 $ 847 $ 7,591 $ 465,833 $ 473,424 $ 846 Purchased credit-impaired --- --- --- --- 51 51 --- Total other consumer $ 5,624 $ 1,120 $ 847 $ 7,591 $ 465,884 $ 473,475 $ 846 Total loans and leases $ 234,067 $ 91,514 $ 261,414 $ 586,995 $ 48,165,306 $ 48,752,301 $ 106,878 December 31, 2014 90 or more (dollar amounts in thousands) Past Due Total Loans days past due 30-59 Days 60-89 Days 90 or more days Total Current and Leases and accruing 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 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 (3) 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 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 (3) 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 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 (5) 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 HTF 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 $50,640 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 six-month periods ended June 30, 2015 and 2014 : Commercial and Commercial Home Residential Other Industrial Real Estate Automobile Equity Mortgage Consumer Total (dollar amounts in thousands) Three-month period ended June 30, 2015: ALLL balance, beginning of period $ 284,573 $ 100,752 $ 37,125 $ 110,280 $ 55,380 $ 17,016 $ 605,126 Loan charge-offs (12,213) (8,288) (7,691) (8,629) (3,610) (6,539) (46,970) Recoveries of loans previously charged-off 7,802 2,763 4,249 3,979 1,468 1,334 21,595 Provision (reduction in allowance) for loan and lease losses 4,879 (3,167) 5,418 5,548 (1,559) 8,671 19,790 Allowance for loans sold or transferred to loans held for sale --- --- 1 --- --- --- 1 ALLL balance, end of period $ 285,041 $ 92,060 $ 39,102 $ 111,178 $ 51,679 $ 20,482 $ 599,542 AULC balance, beginning of period $ 42,315 $ 5,531 $ --- $ 2,639 $ 9 $ 4,248 $ 54,742 Provision (reduction in allowance) for unfunded loan commitments and letters of credit (466) 247 --- (117) 8 957 629 AULC balance, end of period $ 41,849 $ 5,778 $ --- $ 2,522 $ 17 $ 5,205 $ 55,371 ACL balance, end of period $ 326,890 $ 97,838 $ 39,102 $ 113,700 $ 51,696 $ 25,687 $ 654,913 Six-month period ended June 30, 2015: ALLL balance, beginning of period $ 286,995 $ 102,839 $ 33,466 $ 96,413 $ 47,211 $ 38,272 $ 605,196 Loan charge-offs (36,825) (10,301) (15,794) (17,215) (8,473) (13,437) (102,045) Recoveries of loans previously charged-off 21,011 8,788 8,104 7,940 3,515 2,880 52,238 Provision (reduction in allowance) for loan and lease losses 13,860 (9,266) 15,618 24,040 9,426 (7,233) 46,445 Allowance for loans sold or transferred to loans held for sale --- --- (2,292) --- --- --- (2,292) ALLL balance, end of period $ 285,041 $ 92,060 $ 39,102 $ 111,178 $ 51,679 $ 20,482 $ 599,542 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 (7,139) (263) --- 598 9 1,360 (5,435) AULC balance, end of period $ 41,849 $ 5,778 $ --- $ 2,522 $ 17 $ 5,205 $ 55,371 ACL balance, end of period $ 326,890 $ 97,838 $ 39,102 $ 113,700 $ 51,696 $ 25,687 $ 654,913 Commercial and Commercial Home Residential Other Industrial Real Estate Automobile Equity Mortgage Consumer Total (dollar amounts in thousands) Three-month period ended June 30, 2014: ALLL balance, beginning of period $ 266,979 $ 160,306 $ 25,178 $ 113,177 $ 39,068 $ 27,210 $ 631,918 Loan charge-offs (23,245) (2,998) (6,632) (13,201) (6,062) (6,689) (58,827) Recoveries of loans previously charged-off 12,648 5,189 3,706 4,710 2,656 1,275 30,184 Provision for (reduction in allowance) loan and lease losses 22,130 (25,151) 4,906 1,257 11,529 17,155 31,826 Allowance for loans sold or transferred to loans held for sale --- --- --- --- --- --- --- ALLL balance, end of period $ 278,512 $ 137,346 $ 27,158 $ 105,943 $ 47,191 $ 38,951 $ 635,101 AULC balance, beginning of period $ 46,316 $ 9,127 $ --- $ 1,791 $ 8 $ 2,126 $ 59,368 Provision for (reduction in allowance) unfunded loan commitments and letters of credit (1,566) (1,597) --- 186 --- 536 (2,441) AULC balance, end of period $ 44,750 $ 7,530 $ --- $ 1,977 $ 8 $ 2,662 $ 56,927 ACL balance, end of period $ 323,262 $ 144,876 $ 27,158 $ 107,920 $ 47,199 $ 41,613 $ 692,028 Six-month period ended June 30, 2014: ALLL balance, beginning of period $ 265,801 $ 162,557 $ 31,053 $ 111,131 $ 39,577 $ 37,751 $ 647,870 Loan charge-offs (39,582) (13,108) (14,676) (34,260) (15,048) (15,164) (131,838) Recoveries of loans previously charged-off 20,379 16,286 7,108 10,082 3,783 2,571 60,209 Provision for (reduction in allowance) loan and lease losses 31,914 (28,389) 3,673 18,990 18,879 14,920 59,987 Allowance for loans sold or transferred to loans held for sale --- --- --- --- --- (1,127) (1,127) ALLL balance, end of period $ 278,512 $ 137,346 $ 27,158 $ 105,943 $ 47,191 $ 38,951 $ 635,101 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 (4,846) (2,361) --- 214 (1) 1,022 (5,972) AULC balance, end of period $ 44,750 $ 7,530 $ --- $ 1,977 $ 8 $ 2,662 $ 56,927 ACL balance, end of period $ 323,262 $ 144,876 $ 27,158 $ 107,920 $ 47,199 $ 41,613 $ 692,028 |
Loan and lease balances by credit quality indicator | The following table presents each loan and lease class by credit quality indicator at June 30, 2015 and December 31, 2014 : June 30, 2015 Credit Risk Profile by UCS classification (dollar amounts in thousands) Pass OLEM Substandard Doubtful Total Commercial and industrial: Owner occupied $ 3,875,455 $ 114,939 $ 207,241 $ 2,224 $ 4,199,859 Purchased credit-impaired 4,061 500 15,360 201 20,122 Other commercial and industrial 14,892,225 315,347 572,268 2,855 15,782,695 Total commercial and industrial $ 18,771,741 $ 430,786 $ 794,869 $ 5,280 $ 20,002,676 Commercial real estate: Retail properties $ 1,284,017 $ 13,750 $ 58,006 $ (255) $ 1,355,518 Multi family 1,084,707 12,041 23,345 491 1,120,584 Office 859,603 27,135 42,155 2,047 930,940 Industrial and warehouse 488,609 347 11,768 363 501,087 Purchased credit-impaired 8,923 158 16,656 1,854 27,591 Other commercial real estate 1,242,841 4,678 29,714 840 1,278,073 Total commercial real estate $ 4,968,700 $ 58,109 $ 181,644 $ 5,340 $ 5,213,793 Credit Risk Profile by FICO score (1) 750+ 650-749 <650 Other (2) Total Automobile $ 4,172,286 $ 3,177,579 $ 961,996 $ 237,220 $ 8,549,081 Home equity: Secured by first-lien $ 3,311,887 $ 1,438,410 $ 282,919 $ 171,841 $ 5,205,057 Secured by junior-lien 1,824,355 1,041,941 349,377 105,546 3,321,219 Total home equity $ 5,136,242 $ 2,480,351 $ 632,296 $ 277,387 $ 8,526,276 Residential mortgage: Residential mortgage $ 3,528,722 $ 1,795,997 $ 603,735 $ 56,506 $ 5,984,960 Purchased credit-impaired 636 723 681 --- 2,040 Total residential mortgage $ 3,529,358 $ 1,796,720 $ 604,416 $ 56,506 $ 5,987,000 Other consumer: Other consumer $ 218,022 $ 220,435 $ 33,893 $ 1,074 $ 473,424 Purchased credit-impaired --- 51 --- --- 51 Total other consumer $ 218,022 $ 220,486 $ 33,893 $ 1,074 $ 473,475 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 table s 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 June 30, 2015 and December 31, 2014 : Commercial and Commercial Home Residential Other (dollar amounts in thousands) Industrial Real Estate Automobile Equity Mortgage Consumer Total ALLL at June 30, 2015: Portion of ALLL balance: Attributable to purchased credit-impaired loans $ 696 $ --- $ --- $ --- $ 258 $ 7 $ 961 Attributable to loans individually evaluated for impairment 15,570 13,285 1,471 25,933 10,066 122 66,447 Attributable to loans collectively evaluated for impairment 268,775 78,775 37,631 85,245 41,355 20,353 532,134 Total ALLL balance $ 285,041 $ 92,060 $ 39,102 $ 111,178 $ 51,679 $ 20,482 $ 599,542 Loan and Lease Ending Balances at June 30, 2015: Portion of loan and lease ending balance: Attributable to purchased credit-impaired loans $ 20,122 $ 27,591 $ --- $ --- $ 2,040 $ 51 $ 49,804 Individually evaluated for impairment 402,525 196,593 28,805 336,485 364,782 4,881 1,334,071 Collectively evaluated for impairment 19,580,029 4,989,609 8,520,276 8,189,791 5,620,178 468,543 47,368,426 Total loans and leases evaluated for impairment $ 20,002,676 $ 5,213,793 $ 8,549,081 $ 8,526,276 $ 5,987,000 $ 473,475 $ 48,752,301 Commercial and Commercial Home Residential Other (dollar amounts in thousands) Industrial Real Estate Automobile Equity Mortgage 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 princip a l 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 ) Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 June 30, 2015 Unpaid Interest Interest Ending Principal Related Average Income Average Income (dollar amounts in thousands) Balance Balance (5) Allowance Balance Recognized Balance Recognized With no related allowance recorded: Commercial and industrial: Owner occupied $ 44,108 $ 51,709 $ --- $ 21,025 $ 72 $ 16,645 $ 147 Purchased credit-impaired --- --- --- --- --- --- --- Other commercial and industrial 85,281 110,447 --- 71,905 498 56,728 836 Total commercial and industrial $ 129,389 $ 162,156 $ --- $ 92,930 $ 570 $ 73,373 $ 983 Commercial real estate: Retail properties $ 53,513 $ 83,484 $ --- $ 50,905 $ 463 $ 54,231 $ 959 Multi family --- --- --- --- --- --- --- Office 29,004 33,955 --- 11,515 86 6,597 117 Industrial and warehouse --- --- --- --- --- 263 7 Purchased credit-impaired 27,591 74,557 --- 31,468 2,163 33,769 3,941 Other commercial real estate 2,319 3,334 --- 1,838 16 3,096 62 Total commercial real estate $ 112,427 $ 195,330 $ --- $ 95,726 $ 2,728 $ 97,956 $ 5,086 Automobile $ --- $ --- $ --- $ --- $ --- $ --- $ --- Home equity: Secured by first-lien $ --- $ --- $ --- $ --- $ --- $ --- $ --- Secured by junior-lien --- --- --- --- --- --- --- Total home equity $ --- $ --- $ --- $ --- $ --- $ --- $ --- Residential mortgage: Residential mortgage $ --- $ --- $ --- $ --- $ --- $ --- $ --- Purchased credit-impaired --- --- --- --- --- --- --- Total residential mortgage $ --- $ --- $ --- $ --- $ --- $ --- $ --- Other consumer Other consumer $ --- $ --- $ --- $ --- $ --- $ --- $ --- Purchased credit-impaired --- --- --- --- --- --- --- Total other consumer $ --- $ --- $ --- $ --- $ --- $ --- $ --- With an allowance recorded: Commercial and industrial: (3) Owner occupied $ 50,530 $ 57,310 $ 3,455 $ 59,605 $ 495 $ 55,448 $ 934 Purchased credit-impaired 20,122 29,969 696 20,750 1,577 21,576 2,874 Other commercial and industrial 222,606 228,512 12,115 183,095 1,339 61,833 1,086 Total commercial and industrial $ 293,258 $ 315,791 $ 16,266 $ 263,450 $ 3,411 $ 138,857 $ 4,894 Commercial real estate: (4) Retail properties $ 38,132 $ 39,601 $ 4,651 $ 44,213 $ 418 $ 42,312 $ 780 Multi family 15,921 17,690 2,444 16,200 184 15,884 354 Office 25,617 30,019 2,146 40,710 450 45,644 1,013 Industrial and warehouse 6,098 6,297 507 5,835 81 7,079 163 Purchased credit-impaired --- --- --- --- --- --- --- Other commercial real estate 25,989 32,728 3,537 29,405 335 29,254 689 Total commercial real estate $ 111,757 $ 126,335 $ 13,285 $ 136,363 $ 1,468 $ 140,173 $ 2,999 Automobile $ 28,805 $ 29,026 $ 1,471 $ 29,482 $ 544 $ 29,859 $ 1,105 Home equity: Secured by first-lien $ 150,259 $ 155,467 $ 8,818 $ 148,892 $ 1,715 $ 147,783 $ 3,299 Secured by junior-lien 186,226 219,608 17,115 181,059 2,231 175,666 4,216 Total home equity $ 336,485 $ 375,075 $ 25,933 $ 329,951 $ 3,946 $ 323,449 $ 7,515 Residential mortgage (6): Residential mortgage $ 364,782 $ 407,126 $ 10,066 $ 369,245 $ 2,978 $ 369,356 $ 6,100 Purchased credit-impaired 2,040 3,017 258 2,104 4 2,040 7 Total residential mortgage $ 366,822 $ 410,143 $ 10,324 $ 371,349 $ 2,982 $ 371,396 $ 6,107 Other consumer: Other consumer $ 4,881 $ 4,881 $ 122 $ 4,963 $ 65 $ 4,671 $ 128 Purchased credit-impaired 51 114 7 51 160 51 291 Total other consumer $ 4,932 $ 4,995 $ 129 $ 5,014 $ 225 $ 4,722 $ 419 Three Months Ended Six Months Ended December 31, 2014 June 30, 2014 June 30, 2014 Unpaid Interest Interest Ending Principal Related Average Income Average Income (dollar amounts in thousands) Balance Balance (5) Allowance Balance Recognized Balance Recognized With no related allowance recorded: Commercial and industrial: Owner occupied $ 13,536 $ 13,536 $ --- $ 3,680 $ 35 $ 4,293 $ 84 Purchased credit-impaired --- --- --- --- --- --- --- Other commercial and industrial 24,309 26,858 --- 7,558 89 7,584 186 Total commercial and industrial $ 37,845 $ 40,394 $ --- $ 11,238 $ 124 $ 11,877 $ 270 Commercial real estate: Retail properties $ 61,915 $ 91,627 $ --- $ 55,039 $ 632 $ 54,665 $ 1,237 Multi family --- --- --- --- --- --- --- Office 1,130 3,574 --- 2,394 40 4,400 229 Industrial and warehouse 3,447 3,506 --- 5,114 68 7,100 176 Purchased credit-impaired 38,371 91,075 --- 67,008 5,315 72,030 7,733 Other commercial real estate 6,608 6,815 --- 6,849 79 6,338 136 Total commercial real estate $ 111,471 $ 196,597 $ --- $ 136,404 $ 6,134 $ 144,533 $ 9,511 Automobile $ --- $ --- $ --- $ --- $ --- $ --- $ --- Home equity: Secured by first-lien $ --- $ --- $ --- $ --- $ --- $ --- $ --- Secured by junior-lien --- --- --- --- --- --- --- Total home equity $ --- $ --- $ --- $ --- $ --- $ --- $ --- Residential mortgage: Residential mortgage $ --- $ --- $ --- $ --- $ --- $ --- $ --- Purchased credit-impaired --- --- --- --- --- --- --- Total residential mortgage $ --- $ --- $ --- $ --- $ --- $ --- $ --- Other consumer Other consumer $ --- $ --- $ --- $ --- $ --- $ --- $ --- Purchased credit-impaired --- --- --- --- --- --- --- Total other consumer $ --- $ --- $ --- $ --- $ --- $ --- $ --- With an allowance recorded: Commercial and industrial: (3) Owner occupied $ 44,869 $ 53,639 $ 4,220 $ 40,748 $ 390 $ 39,796 $ 789 Purchased credit-impaired 23,228 35,307 3,846 35,887 3,282 35,767 4,775 Other commercial and industrial 134,279 162,908 6,829 78,200 688 64,840 1,279 Total commercial and industrial $ 202,376 $ 251,854 $ 14,895 $ 154,835 $ 4,360 $ 140,403 $ 6,843 Commercial real estate: (4) Retail properties $ 37,081 $ 38,397 $ 3,536 $ 64,092 $ 487 $ 66,349 $ 1,064 Multi family 17,277 23,725 2,339 17,024 164 15,827 315 Office 52,953 56,268 8,399 54,025 610 52,723 1,146 Industrial and warehouse 8,888 10,396 720 8,658 61 8,897 109 Purchased credit-impaired --- --- --- --- --- --- --- Other commercial real estate 27,963 33,472 3,893 50,778 541 47,501 1,015 Total commercial real estate $ 144,162 $ 162,258 $ 18,887 $ 194,577 $ 1,863 $ 191,297 $ 3,649 Automobile $ 30,612 $ 32,483 $ 1,531 $ 34,594 $ 719 $ 35,424 $ 1,402 Home equity: Secured by first-lien $ 145,566 $ 157,978 $ 8,296 $ 122,449 $ 1,371 $ 118,307 $ 2,610 Secured by junior-lien 164,880 208,118 17,731 123,839 1,547 115,545 2,861 Total home equity $ 310,446 $ 366,096 $ 26,027 $ 246,288 $ 2,918 $ 233,852 $ 5,471 Residential mortgage (6): Residential mortgage $ 369,577 $ 415,280 $ 16,535 $ 387,019 $ 2,984 $ 387,325 $ 5,848 Purchased credit-impaired 1,912 3,096 8 2,308 219 2,371 318 Total residential mortgage $ 371,489 $ 418,376 $ 16,543 $ 389,327 $ 3,203 $ 389,696 $ 6,166 Other consumer: Other consumer $ 4,088 $ 4,209 $ 214 $ 2,731 $ 60 $ 2,168 $ 93 Purchased credit-impaired 51 123 245 90 5 103 7 Total other consumer $ 4,139 $ 4,332 $ 459 $ 2,821 $ 65 $ 2,271 $ 100 (1) These tables do not include loans fully charged-off. (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 June 30, 2015, $75,749 thousand of the $293,258 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 June 30, 2015, $28,457 thousand of the $111,757 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 June 30, 2015, $30,974 thousand of the $366,822 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 financia l effects of the modification for the three-month and six-month periods ended June 30, 2015 and 2014 : New Troubled Debt Restructurings During The Three-Month Period Ended (1) June 30, 2015 June 30, 2014 Post-modification Post-modification Outstanding Financial Outstanding Financial (dollar amounts in thousands) Number of Ending effects of Number of Ending effects of Contracts Balance modification (2) Contracts Balance modification (2) C&I - Owner occupied: Interest rate reduction 2 $ 189 $ (1) 9 $ 857 $ 21 Amortization or maturity date change 55 36,506 (1,928) 19 3,728 (66) Other --- --- --- 2 976 (34) Total C&I - Owner occupied 57 $ 36,695 $ (1,929) 30 $ 5,561 $ (79) C&I - Other commercial and industrial: Interest rate reduction 4 $ 405 $ 10 9 $ 17,487 $ (1,774) Amortization or maturity date change 153 155,849 (8,415) 55 20,780 (579) Other 1 124 --- 6 2,304 (92) Total C&I - Other commercial and industrial 158 $ 156,378 $ (8,405) 70 $ 40,571 $ (2,445) CRE - Retail properties: Interest rate reduction --- $ --- $ --- --- $ --- $ --- Amortization or maturity date change 1 6,396 (1,334) 5 9,911 (233) Other --- --- --- 3 3,868 56 Total CRE - Retail properties 1 $ 6,396 $ (1,334) 8 $ 13,779 $ (177) CRE - Multi family: Interest rate reduction 1 $ 90 $ --- 1 $ 95 $ --- Amortization or maturity date change 11 5,191 (28) 7 177 (2) Other 8 216 (6) 2 3,976 62 Total CRE - Multi family 20 $ 5,497 $ (34) 10 $ 4,248 $ 60 CRE - Office: Interest rate reduction --- $ --- $ --- --- $ --- $ --- Amortization or maturity date change 7 4,988 103 6 6,084 (360) Other 1 30 (2) 3 14,127 (3,482) Total CRE - Office 8 $ 5,018 $ 101 9 $ 20,211 $ (3,842) CRE - Industrial and warehouse: Interest rate reduction --- $ --- $ --- --- $ --- $ --- Amortization or maturity date change 4 2,160 91 2 2,384 216 Other --- --- --- --- --- --- Total CRE - Industrial and Warehouse 4 $ 2,160 $ 91 2 $ 2,384 $ 216 CRE - Other commercial real estate: Interest rate reduction --- $ --- $ --- 1 $ 715 $ 44 Amortization or maturity date change 10 4,072 16 23 26,469 (2,900) Other 1 82 (22) --- --- --- Total CRE - Other commercial real estate 11 $ 4,154 $ (6) 24 $ 27,184 $ (2,856) Automobile: Interest rate reduction 12 $ 23 $ 1 47 $ 426 $ 8 Amortization or maturity date change 316 2,132 96 963 5,878 35 Chapter 7 bankruptcy 146 1,138 61 138 1,010 (15) Other --- --- --- --- --- --- Total Automobile 474 $ 3,293 $ 158 1,148 $ 7,314 $ 28 Residential mortgage: Interest rate reduction 4 $ 261 $ (52) 7 $ 1,445 $ (42) Amortization or maturity date change 70 9,416 (74) 149 23,284 452 Chapter 7 bankruptcy 35 2,884 (7) 32 3,484 93 Other --- --- --- 2 194 5 Total Residential mortgage 109 $ 12,561 $ (133) 190 $ 28,407 $ 508 First-lien home equity: Interest rate reduction 11 $ 1,160 $ 42 45 $ 4,158 $ 413 Amortization or maturity date change 65 6,432 (325) 95 8,574 95 Chapter 7 bankruptcy 22 1,270 54 22 1,032 97 Other --- --- --- --- --- --- Total First-lien home equity 98 $ 8,862 $ (229) 162 $ 13,764 $ 605 Junior-lien home equity: Interest rate reduction 4 $ 98 $ 6 81 $ 2,955 $ 220 Amortization or maturity date change 419 18,077 (2,615) 392 15,425 (1,740) Chapter 7 bankruptcy 57 650 1,358 44 688 902 Other --- --- --- --- --- --- Total Junior-lien home equity 480 $ 18,825 $ (1,251) 517 $ 19,068 $ (618) Other consumer: Interest rate reduction --- $ --- $ --- --- $ --- $ --- Amortization or maturity date change 2 33 2 26 1,115 (22) Chapter 7 bankruptcy 3 39 8 16 418 (50) Other --- --- --- --- --- --- Total Other consumer 5 $ 72 $ 10 42 $ 1,533 $ (72) Total new troubled debt restructurings 1,425 $ 259,911 $ (12,961) 2,212 $ 184,024 $ (8,672) (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 Six-Month Period Ended (1) June 30, 2015 June 30, 2014 Post-modification Post-modification Outstanding Financial Outstanding Financial (dollar amounts in thousands) Number of Ending effects of Number of Ending effects of Contracts Balance modification (2) Contracts Balance modification (2) C&I - Owner occupied: Interest rate reduction 3 $ 235 $ (2) 15 $ 1,781 $ 21 Amortization or maturity date change 101 46,966 (2,102) 37 8,337 (62) Other 3 613 (29) 4 1,816 (35) Total C&I - Owner occupied 107 $ 47,814 $ (2,133) 56 $ 11,934 $ (76) C&I - Other commercial and industrial: Interest rate reduction 5 $ 435 $ 9 19 $ 45,481 $ (1,921) Amortization or maturity date change 270 236,226 (7,601) 109 53,380 358 Other 6 28,512 (430) 10 6,670 (68) Total C&I - Other commercial and industrial 281 $ 265,173 $ (8,022) 138 $ 105,531 $ (1,631) CRE - Retail properties: Interest rate reduction 1 $ 1,657 $ (11) 3 $ 11,105 $ 421 Amortization or maturity date change 12 10,973 (1,533) 10 22,149 (181) Other --- --- --- 9 13,765 (35) Total CRE - Retail properties 13 $ 12,630 $ (1,544) 22 $ 47,019 $ 205 CRE - Multi family: Interest rate reduction 1 $ 90 $ --- 11 $ 740 $ --- Amortization or maturity date change 30 10,236 (29) 11 380 (2) Other 8 216 (6) 4 4,299 62 Total CRE - Multi family 39 $ 10,542 $ (35) 26 $ 5,419 $ 60 CRE - Office: Interest rate reduction --- $ --- $ --- 2 $ 120 $ (1) Amortization or maturity date change 12 31,073 72 10 9,216 (360) Other 1 30 (2) 4 24,911 (3,482) Total CRE - Office 13 $ 31,103 $ 70 16 $ 34,247 $ (3,843) CRE - Industrial and warehouse: Interest rate reduction --- $ --- $ --- 2 $ 4,046 $ --- Amortization or maturity date change 5 2,386 91 5 3,557 212 Other --- --- --- 1 977 --- Total CRE - Industrial and Warehouse 5 $ 2,386 $ 91 8 $ 8,580 $ 212 CRE - Other commercial real estate: Interest rate reduction --- $ --- $ --- 5 $ 5,019 $ 51 Amortization or maturity date change 17 7,731 27 44 73,005 (2,775) Other 2 234 (22) 2 928 (1) Total CRE - Other commercial real estate 19 $ 7,965 $ 5 51 $ 78,952 $ (2,725) Automobile: Interest rate reduction 25 $ 42 $ 2 48 $ 428 $ 8 Amortization or maturity date change 812 5,484 254 1,169 7,227 27 Chapter 7 bankruptcy 290 2,361 161 318 2,371 (41) Other --- --- --- --- --- --- Total Automobile 1,127 $ 7,887 $ 417 1,535 $ 10,026 $ (6) Residential mortgage: Interest rate reduction 9 $ 737 $ (56) 15 $ 2,233 $ (24) Amortization or maturity date change 193 23,274 (195) 217 31,302 555 Chapter 7 bankruptcy 69 7,060 (131) 117 12,491 375 Other 6 708 --- 3 299 5 Total Residential mortgage 277 $ 31,779 $ (382) 352 $ 46,325 $ 911 First-lien home equity: Interest rate reduction 21 $ 2,579 $ 68 95 $ 7,966 $ 604 Amortization or maturity date change 114 10,043 (628) 135 11,164 (331) Chapter 7 bankruptcy 48 2,855 134 43 2,422 100 Other --- --- --- --- --- --- Total First-lien home equity 183 $ 15,477 $ (426) 273 $ 21,552 $ 373 Junior-lien home equity: Interest rate reduction 8 $ 349 $ 21 168 $ 5,822 $ 170 Amortization or maturity date change 766 34,584 (551) 633 25,085 (3,592) Chapter 7 bankruptcy 108 1,425 2,245 103 1,613 1,438 Other --- --- --- --- --- --- Total Junior-lien home equity 882 $ 36,358 $ 1,715 904 $ 32,520 $ (1,984) Other consumer: Interest rate reduction --- $ --- $ --- --- $ --- $ --- Amortization or maturity date change 6 128 6 30 1,135 (22) Chapter 7 bankruptcy 5 45 9 19 441 (51) Other --- --- --- --- --- --- Total Other consumer 11 $ 173 $ 15 49 $ 1,576 $ (73) Total new troubled debt restructurings 2,957 $ 469,287 $ (10,229) 3,430 $ 403,681 $ (8,577) (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. The following tables present TDRs that have defaulted within one year of modification during the three-month and six-month periods ended June 30, 2015 and 2014 : Troubled Debt Restructurings That Have Redefaulted (1) Within One Year Of Modification During The Three Months Ended June 30, 2015 June 30, 2014 Number of Ending Number of Ending (dollar amounts in thousands) Contracts Balance Contracts Balance C&I - Owner occupied: Interest rate reduction --- $ --- --- $ --- Amortization or maturity date change 2 423 2 400 Other --- --- --- --- Total C&I - Owner occupied 2 $ 423 2 $ 400 C&I - Other commercial and industrial: Interest rate reduction 1 $ 27 --- $ --- Amortization or maturity date change 8 1,572 3 720 Other --- --- --- --- Total C&I - Other commercial and industrial 9 $ 1,599 3 $ 720 CRE - Retail Properties: Interest rate reduction 1 $ 47 --- $ --- Amortization or maturity date change --- --- --- --- Other --- --- --- --- Total CRE - Retail properties 1 $ 47 --- $ --- CRE - Multi family: Interest rate reduction --- $ --- --- $ --- Amortization or maturity date change 5 142 1 212 Other --- --- --- --- Total CRE - Multi family 5 $ 142 1 $ 212 CRE - Office: Interest rate reduction --- $ --- --- $ --- Amortization or maturity date change 1 392 1 493 Other --- --- --- --- Total CRE - Office 1 $ 392 1 $ 493 CRE - Industrial and Warehouse: Interest rate reduction --- $ --- --- $ --- Amortization or maturity date change --- --- --- --- Other --- --- --- --- Total CRE - Industrial and Warehouse --- $ --- --- $ --- CRE - Other commercial real estate: Interest rate reduction --- $ --- --- $ --- Amortization or maturity date change --- --- --- --- Other --- --- --- --- Total CRE - Other commercial real estate --- $ --- --- $ --- Automobile: Interest rate reduction 1 $ 4 --- $ --- Amortization or maturity date change 6 89 7 78 Chapter 7 bankruptcy 7 73 24 161 Other --- --- --- --- Total Automobile 14 $ 166 31 $ 239 Residential mortgage: Interest rate reduction --- $ --- 1 $ 220 Amortization or maturity date change 10 825 15 1,596 Chapter 7 bankruptcy 2 139 8 433 Other --- --- --- --- Total Residential mortgage 12 $ 964 24 $ 2,249 First-lien home equity: Interest rate reduction --- $ --- 1 $ 50 Amortization or maturity date change 2 180 4 315 Chapter 7 bankruptcy 4 203 5 399 Other --- --- --- --- Total First-lien home equity 6 $ 383 10 $ 764 Junior-lien home equity: Interest rate reduction 1 $ 160 --- $ --- Amortization or maturity date change 8 339 8 368 Chapter 7 bankruptcy 3 187 6 26 Other --- --- --- --- Total Junior-lien home equity 12 $ 686 14 $ 394 Other consumer: Interest rate reduction --- $ --- --- $ --- Amortization or maturity date change --- --- --- --- Chapter 7 bankruptcy --- --- --- --- Other --- --- --- --- Total Other consumer --- $ --- --- $ --- Total troubled debt restructurings with subsequent redefault 62 $ 4,802 86 $ 5,471 (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 Six Months Ended June 30, 2015 June 30, 2014 Number of Ending Number of Ending (dollar amounts in thousands) Contracts Balance Contracts Balance C&I - Owner occupied: Interest rate reduction --- $ --- --- $ --- Amortization or maturity date change 3 572 2 400 Other --- --- 1 230 Total C&I - Owner occupied 3 $ 572 3 $ 630 C&I - Other commercial and industrial: Interest rate reduction 1 $ 27 --- $ --- Amortization or maturity date change 10 1,686 7 1,044 Other --- --- --- --- Total C&I - Other commercial and industrial 11 $ 1,713 7 $ 1,044 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 8 911 1 212 Other --- --- --- --- Total CRE - Multi family 8 $ 911 1 $ 212 CRE - Office: Interest rate reduction --- $ --- --- $ --- Amortization or maturity date change 2 1,388 1 493 Other --- --- --- --- Total CRE - Office 2 $ 1,388 1 $ 493 CRE - Industrial and Warehouse: Interest rate reduction --- $ --- --- $ --- Amortization or maturity date change --- --- --- --- Other --- --- --- --- Total CRE - Industrial and Warehouse --- $ --- --- $ --- CRE - Other commercial real estate: Interest rate reduction --- $ --- --- $ --- Amortization or maturity date change --- --- 1 561 Other --- --- --- --- Total CRE - Other commercial real estate --- $ --- 1 $ 561 Automobile: Interest rate reduction 1 $ 4 --- $ --- Amortization or maturity date change 12 199 26 182 Chapter 7 bankruptcy 14 123 37 231 Other --- --- --- --- Total Automobile 27 $ 326 63 $ 413 Residential mortgage: Interest rate reduction 1 $ 61 3 $ 350 Amortization or maturity date change 26 2,601 44 5,054 Chapter 7 bankruptcy 4 389 23 1,945 Other --- --- --- --- Total Residential mortgage 31 $ 3,051 70 $ 7,349 First-lien home equity: Interest rate reduction 1 $ 155 2 $ 163 Amortization or maturity date change 4 258 8 930 Chapter 7 bankruptcy 23 1,926 8 600 Other --- --- --- --- Total First-lien home equity 28 $ 2,339 18 $ 1,693 Junior-lien home equity: Interest rate reduction 2 $ 197 --- $ --- Amortization or maturity date change 20 798 14 698 Chapter 7 bankruptcy 12 401 22 596 Other --- --- --- --- Total Junior-lien home equity 34 $ 1,396 36 $ 1,294 Other consumer: Interest rate reduction --- $ --- --- $ --- Amortization or maturity date change --- --- --- --- Chapter 7 bankruptcy --- --- --- --- Other --- --- --- --- Total Other consumer --- $ --- --- $ --- Total troubled debt restructurings with subsequent redefault 146 $ 18,225 200 $ 13,689 (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 Se
Available-for-Sale and Other Securities (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
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 June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 Amortized Amortized (dollar amounts in thousands) Cost Fair Value Cost Fair Value U.S. Treasury: Under 1 year $ 7,083 $ 7,085 $ --- $ --- 1-5 years 5,446 5,515 5,435 5,452 6-10 years --- --- --- --- Over 10 years --- --- --- --- Total U.S. Treasury 12,529 12,600 5,435 5,452 Federal agencies: mortgage-backed securities: Under 1 year 32,515 32,602 47,023 47,190 1-5 years 201,594 204,837 216,775 221,078 6-10 years 228,390 232,017 184,576 186,938 Over 10 years 5,647,118 5,691,814 4,825,525 4,867,495 Total Federal agencies: mortgage-backed securities 6,109,617 6,161,270 5,273,899 5,322,701 Other agencies: Under 1 year 1,703 1,710 33,047 33,237 1-5 years 8,265 8,693 9,122 9,575 6-10 years 152,433 155,589 103,530 105,019 Over 10 years 161,679 163,192 204,016 203,712 Total other agencies 324,080 329,184 349,715 351,543 Total U.S. Treasury, Federal agency, and other agency securities 6,446,226 6,503,054 5,629,049 5,679,696 Municipal securities: Under 1 year 252,645 244,911 256,399 255,835 1-5 years 389,879 391,985 269,385 274,003 6-10 years 997,694 1,006,042 938,780 945,954 Over 10 years 453,343 475,428 376,747 392,777 Total municipal securities 2,093,561 2,118,366 1,841,311 1,868,569 Private-label CMO: Under 1 year --- --- --- --- 1-5 years 1,065 1,109 --- --- 6-10 years --- --- 1,314 1,371 Over 10 years 38,217 36,895 42,416 40,555 Total private-label CMO 39,282 38,004 43,730 41,926 Asset-backed securities: Under 1 year --- --- --- --- 1-5 years 146,428 146,936 228,852 229,364 6-10 years 128,509 128,725 144,163 144,193 Over 10 years 552,443 515,656 641,984 582,441 Total asset-backed securities 827,380 791,317 1,014,999 955,998 Corporate debt: Under 1 year 29,986 29,990 18,767 18,953 1-5 years 308,150 315,987 314,773 323,503 6-10 years 109,769 108,607 145,611 143,720 Over 10 years --- --- --- --- Total corporate debt 447,905 454,584 479,151 486,176 Other: Under 1 year --- --- 250 250 1-5 years 3,950 3,897 3,150 3,066 6-10 years --- --- --- --- Over 10 years --- --- --- --- Non-marketable equity securities 332,095 332,095 331,559 331,559 Mutual funds 11,823 11,823 16,151 16,161 Marketable equity securities 962 1,731 536 1,269 Total other 348,830 349,546 351,646 352,305 Total available-for-sale and other securities $ 10,203,184 $ 10,254,871 $ 9,359,886 $ 9,384,670 |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | Unrealized Amortized Gross Gross Fair (dollar amounts in thousands) Cost Gains Losses Value June 30, 2015 U.S. Treasury $ 12,529 $ 71 $ --- $ 12,600 Federal agencies: Mortgage-backed securities 6,109,617 68,308 (16,655) 6,161,270 Other agencies 324,080 5,121 (17) 329,184 Total U.S. Treasury, Federal agency securities 6,446,226 73,500 (16,672) 6,503,054 Municipal securities 2,093,561 44,281 (19,476) 2,118,366 Private-label CMO 39,282 1,133 (2,411) 38,004 Asset-backed securities 827,380 1,946 (38,009) 791,317 Corporate debt 447,905 8,292 (1,613) 454,584 Other securities 348,830 769 (53) 349,546 Total available-for-sale and other securities $ 10,203,184 $ 129,921 $ (78,234) $ 10,254,871 Unrealized Amortized Gross Gross Fair (dollar amounts in thousands) Cost Gains Losses 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 | Less than 12 Months Over 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized (dollar amounts in thousands ) Value Losses Value Losses Value Losses June 30, 2015 Federal agencies: Mortgage-backed securities 1,165,377 (6,575) 284,316 (10,080) 1,449,693 (16,655) Other agencies 1,484 (17) --- --- 1,484 (17) Total Federal agency securities 1,166,861 (6,592) 284,316 (10,080) 1,451,177 (16,672) Municipal securities 521,393 (15,835) 231,486 (3,641) 752,879 (19,476) Private-label CMO --- --- 22,246 (2,411) 22,246 (2,411) Asset-backed securities 234,815 (1,490) 259,598 (36,519) 494,413 (38,009) Corporate debt 90,201 (580) 21,677 (1,033) 111,878 (1,613) Other securities 765 (35) 1,483 (18) 2,248 (53) Total temporarily impaired securities $ 2,014,035 $ (24,532) $ 820,806 $ (53,702) $ 2,834,841 $ (78,234) Less than 12 Months Over 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized (dollar amounts in thousands ) Value Losses Value Losses Value 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 is a summary of realized securities gains and losses for the three-month and six-month periods ended June 30, 2015 and 2014 : Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Gross gains on sales of securities $ 82 $ 490 $ 82 $ 17,480 Gross (losses) on sales of securities --- --- --- (20) Net gain on sales of securities $ 82 $ 490 $ 82 $ 17,460 |
Trust Preferred Securities Data | Collateralized Debt Obligation Data June 30, 2015 (dollar amounts in thousands) Actual Deferrals Expected and Defaults # of Issuers Defaults as a % of Lowest Currently as a % of Remaining Amortized Fair Unrealized Credit Performing/ Original Performing Excess Deal Name Par Value Cost Value Loss (2) Rating (3) Remaining (4) Collateral Collateral Subordination (5) Alesco II (1) $ 41,646 $ 28,434 $ 25,212 $ (3,222) C 30/32 5 % 7 % 3 % ICONS 19,515 19,515 15,590 (3,925) BB 19/21 7 16 56 MM Comm III 5,459 5,216 4,355 (861) BB 6/9 5 6 33 Pre TSL IX (1) 5,000 3,955 3,177 (778) C 28/38 17 9 8 Pre TSL XI (1) 25,000 20,399 15,380 (5,019) C 42/55 16 9 9 Pre TSL XIII (1) 27,530 19,999 16,735 (3,264) C 41/56 21 22 11 Reg Diversified (1) 25,500 5,706 2,468 (3,238) D 25/40 32 7 --- Soloso (1) 12,500 2,440 618 (1,822) C 34/58 29 19 --- Tropic III 31,000 31,000 18,535 (12,465) CCC+ 29/40 20 8 39 Total at June 30, 2015 $ 193,150 $ 136,664 $ 102,070 $ (34,594) Total at December 31, 2014 $ 193,597 $ 139,194 $ 82,738 $ (56,456) (1) Security was determined to have OTTI. As such, the book 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) | 3 Months Ended |
Jun. 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 June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 Amortized Fair Amortized Fair (dollar amounts in thousands) Cost Value Cost Value Federal agencies: mortgage-backed securities: Under 1 year $ --- $ --- $ --- $ --- 1-5 years --- --- --- --- 6-10 years 24,901 24,476 24,901 24,263 Over 10 years 2,906,086 2,911,305 3,136,460 3,140,194 Total Federal agencies: mortgage-backed securities 2,930,987 2,935,781 3,161,361 3,164,457 Other agencies: Under 1 year --- --- --- --- 1-5 years --- --- --- --- 6-10 years 92,903 94,396 54,010 54,843 Over 10 years 272,671 271,961 156,553 155,821 Total other agencies 365,574 366,357 210,563 210,664 Total U.S. Government backed agencies 3,296,561 3,302,138 3,371,924 3,375,121 Municipal securities: Under 1 year --- --- --- --- 1-5 years --- --- --- --- 6-10 years --- --- --- --- Over 10 years 7,599 7,341 7,981 7,594 Total municipal securities 7,599 7,341 7,981 7,594 Total held-to-maturity securities $ 3,304,160 $ 3,309,479 $ 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 inves tment category at June 30, 2015 and December 31, 2014 : Unrealized Amortized Gross Gross Fair (dollar amounts in thousands) Cost Gains Losses Value June 30, 2015 Federal Agencies: Mortgage-backed securities $ 2,930,987 $ 24,266 $ (19,472) $ 2,935,781 Other agencies 365,574 2,537 (1,754) 366,357 Total U.S. Government backed agencies 3,296,561 26,803 (21,226) 3,302,138 Municipal securities 7,599 --- (258) 7,341 Total held-to-maturity securities $ 3,304,160 $ 26,803 $ (21,484) $ 3,309,479 Unrealized Amortized Gross Gross Fair (dollar amounts in thousands) Cost Gains Losses 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 | Less than 12 Months Over 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized (dollar amounts in thousands ) Value Losses Value Losses Value Losses June 30, 2015 Federal Agencies: Mortgage-backed securities $ 887,538 $ (6,871) $ 382,679 $ (12,601) $ 1,270,217 $ (19,472) Other agencies 163,312 (1,615) 21,662 (139) 184,974 (1,754) Total U.S. Government backed securities 1,050,850 (8,486) 404,341 (12,740) 1,455,191 (21,226) Municipal securities --- --- 7,341 (258) 7,341 (258) Total temporarily impaired securities $ 1,050,850 $ (8,486) $ 411,682 $ (12,998) $ 1,462,532 $ (21,484) Less than 12 Months Over 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized (dollar amounts in thousands ) Value Losses Value Losses Value 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) |
Loans sales and securitizations
Loans sales and securitizations (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Loan Sales and Securitizations [Abstract] | |
Summarizes activity relating to loans securitized sold with servicing retained | Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Residential mortgage loans sold with servicing retained $ 938,412 $ 566,471 $ 1,569,096 $ 1,048,308 Pretax gains resulting from above loan sales (1) 27,471 14,996 42,334 27,072 (1) Recorded in mortgage banking income. Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Automobile loans securitized with servicing retained $ 750,000 $ --- $ 750,000 $ --- Pretax gains resulting from above loan sales (1) 5,333 --- 5,333 --- (1) Recorded in gain on sale of loans. Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 SBA loans sold with servicing retained $ 53,534 $ 45,229 $ 95,935 $ 86,101 Pretax gains resulting from above loan sales (1) 4,696 5,396 8,270 9,772 (1) Recorded in gain on sale of loans. |
Summarizes activity relating to loans sold with servicing retained using the fair value method | Three Months Ended Six Months Ended Fair Value Method: June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Fair value, beginning of period $ 20,455 $ 30,628 $ 22,786 $ 34,236 Change in fair value during the period due to: Time decay (1) (332) (656) (671) (1,381) Payoffs (2) (997) (1,611) (1,815) (3,525) Changes in valuation inputs or assumptions (3) 1,555 (1,614) 381 (2,583) Fair value, end of period: $ 20,681 $ 26,747 $ 20,681 $ 26,747 Weighted-average life (years) 5.1 3.9 5.1 3.9 (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 | Three Months Ended Six Months Ended Amortization Method: June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Carrying value, beginning of period $ 125,454 $ 132,651 $ 132,813 $ 128,064 New servicing assets created 10,338 5,578 16,792 10,631 Servicing assets acquired --- --- --- 3,505 Impairment (charge) / recovery 12,970 (3,685) 4,980 (7,027) Amortization and other (5,635) (1,431) (11,458) (2,060) Carrying value, end of period $ 143,127 $ 133,113 $ 143,127 $ 133,113 Fair value, end of period $ 143,434 $ 139,915 $ 143,434 $ 139,915 Weighted-average life (years) 6.5 5.9 6.5 5.9 Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Carrying value, beginning of period $ 17,947 $ 17,028 $ 18,536 $ 16,865 New servicing assets created 1,839 1,526 3,296 2,861 Amortization and other (1,514) (1,362) (3,560) (2,534) Carrying value, end of period $ 18,272 $ 17,192 $ 18,272 $ 17,192 Fair value, end of period $ 20,350 $ 17,192 $ 20,350 $ 17,192 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 | June 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to 10% 20% 10% 20% adverse adverse adverse adverse (dollar amounts in thousands) Actual change change Actual change change Constant prepayment rate (annualized) 13.60 % $ (955) $ (1,833) 15.60 % $ (1,176) $ (2,248) Spread over forward interest rate swap rates 597 bps (659) (1,277) 546 bps (699) (1,355) June 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to 10% 20% 10% 20% adverse adverse adverse adverse (dollar amounts in thousands) Actual change change Actual change change Constant prepayment rate (annualized) 9.80 % $ (4,935) $ (9,525) 11.40 % $ (5,289) $ (10,164) Spread over forward interest rate swap rates 969 bps (4,776) (9,240) 856 bps (4,343) (8,403) June 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to 10% 20% 10% 20% adverse adverse adverse adverse (dollar amounts in thousands) Actual change change Actual change change Constant prepayment rate (annualized) 15.60 % $ (622) $ (1,203) 14.62 % $ (305) $ (496) Spread over forward interest rate swap rates 500 bps (15) (30) 500 bps (2) (4) June 30, 2015 December 31, 2014 Decline in fair value due to Decline in fair value due to 10% 20% 10% 20% adverse adverse adverse adverse (dollar amounts in thousands) Actual change change Actual change change Constant prepayment rate (annualized) 7.70 % $ (287) $ (569) 5.60 % $ (211) $ (419) Discount rate 1,500 bps (547) (1,071) 1,500 bps (563) (1,102) |
Goodwill and Other Intangible33
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Goodwill and Other Intangible Assets [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 (RB H PCG), and Home Lending. A Treasury / Other function includes, along with technology and operations, other unallocated assets, lia bilities, revenue, and expense. A rollforward of goodwill by business segment for the first six-month period of 2015 is presented in the table below: Retail & Business Commercial Home Treasury/ Huntington (dollar amounts in thousands) Banking Banking AFCRE RBHPCG Lending Other Consolidated Balance, beginning of period $ 368,097 $ 59,594 $ --- $ 90,012 $ --- $ 4,838 $ 522,541 Goodwill acquired during the period --- 155,828 --- --- --- --- 155,828 Adjustments --- --- --- --- --- --- --- Impairment --- --- --- --- --- --- --- Balance, end of period $ 368,097 $ 215,422 $ --- $ 90,012 $ --- $ 4,838 $ 678,369 |
Summary of other intangible assets | At June 30, 2015 and December 31, 2014 , Huntington’s oth er intangible assets consisted of the following : Gross Net Carrying Accumulated Carrying (dollar amounts in thousands) Amount Amortization Value June 30, 2015 Core deposit intangible $ 400,058 $ (382,219) $ 17,839 Customer relationship 116,120 (71,366) 44,754 Other 25,164 (25,052) 112 Total other intangible assets $ 541,342 $ (478,637) $ 62,705 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 Amortization in thousands) Expense 2015 $ 7,700 2016 14,316 2017 12,908 2018 11,135 2019 9,825 2020 3,076 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Other Comprehensive Income [Abstract] | |
Components of other comprehensive income | The components of other comprehensive income for the three-month and six-month periods ended June 30, 2015 and 2014 , were as follows Three Months Ended June 30, 2015 Tax (Expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 13,490 $ (4,770) $ 8,720 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period (52,119) 18,374 (33,745) Less: Reclassification adjustment for net losses (gains) included in net income (120) 42 (78) Net change in unrealized holding gains (losses) on available-for-sale debt securities (38,749) 13,646 (25,103) Net change in unrealized holding gains (losses) on available-for-sale equity securities 16 (5) 11 Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period (829) 290 (539) Less: Reclassification adjustment for net (gains) losses included in net income (138) 48 (90) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships (967) 338 (629) Net change in pension and other post-retirement obligations 1,390 (487) 903 Total other comprehensive income (loss) $ (38,310) $ 13,492 $ (24,818) Three Months Ended June 30, 2014 Tax (Expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 1,252 $ (443) $ 809 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period 36,437 (13,015) 23,422 Less: Reclassification adjustment for net losses (gains) included in net income (284) 100 (184) Net change in unrealized holding gains (losses) on available-for-sale debt securities 37,405 (13,358) 24,047 Net change in unrealized holding gains (losses) on available-for-sale equity securities 323 (113) 210 Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period 27,253 (9,539) 17,714 Less: Reclassification adjustment for net (gains) losses included in net income (813) 285 (528) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships 26,440 (9,254) 17,186 Net change in pension and other post-retirement obligations 888 (311) 577 Total other comprehensive income (loss) $ 65,056 $ (23,036) $ 42,020 Six Months Ended June 30, 2015 Tax (expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 18,735 $ (6,625) $ 12,110 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period 8,384 (3,103) 5,281 Less: Reclassification adjustment for net losses (gains) included in net income (241) 84 (157) Net change in unrealized holding gains (losses) on available-for-sale debt securities 26,878 (9,644) 17,234 Net change in unrealized holding gains (losses) on available-for-sale equity securities 25 (9) 16 Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period 27,317 (9,561) 17,756 Less: Reclassification adjustment for net (gains) losses included in net income (261) 91 (170) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships 27,056 (9,470) 17,586 Net change in pension and other post-retirement obligations 2,779 (973) 1,806 Total other comprehensive income (loss) $ 56,738 $ (20,096) $ 36,642 Six Months Ended June 30, 2014 Tax (expense) (dollar amounts in thousands) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 8,660 $ (3,062) $ 5,598 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period 62,682 (22,347) 40,335 Less: Reclassification adjustment for net losses (gains) included in net income (15,659) 5,481 (10,178) Net change in unrealized holding gains (losses) on available-for-sale debt securities 55,683 (19,928) 35,755 Net change in unrealized holding gains (losses) on available-for-sale equity securities 376 (132) 244 Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period 30,058 (10,521) 19,537 Less: Reclassification adjustment for net (gains) losses included in net income (3,705) 1,297 (2,408) Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships 26,353 (9,224) 17,129 Net change in pension and other post-retirement obligations 1,776 (622) 1,154 Total other comprehensive income (loss) $ 84,188 $ (29,906) $ 54,282 |
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 six-month periods ended June 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 Balance, December 31, 2013 $ (39,234) $ 292 $ (18,844) $ (156,223) $ (214,009) Other comprehensive income before reclassifications 45,933 244 19,537 --- 65,714 Amounts reclassified from accumulated OCI to earnings (10,178) --- (2,408) 1,154 (11,432) Period change 35,755 244 17,129 1,154 54,282 Balance, June 30, 2014 $ (3,479) $ 536 $ (1,715) $ (155,069) $ (159,727) Balance, December 31, 2014 $ 15,137 $ 484 $ (12,233) $ (225,680) $ (222,292) Other comprehensive income before reclassifications 17,391 16 17,756 --- 35,163 Amounts reclassified from accumulated OCI to earnings (157) --- (170) 1,806 1,479 Period change 17,234 16 17,586 1,806 36,642 Balance, June 30, 2015 $ 32,371 $ 500 $ 5,353 $ (223,874) $ (185,650) (1) Amounts at June 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 | Reclassifications out of accumulated OCI Amounts Location of net gain (loss) reclassified from reclassified from accumulated Accumulated OCI components accumulated OCI OCI into earnings Three Three Months Ended Months Ended (dollar amounts in thousands) June 30, 2015 June 30, 2014 Gains (losses) on debt securities: Amortization of unrealized gains (losses) $ 80 $ 163 Interest income - held-to-maturity securities - taxable Realized gain (loss) on sale of securities 40 121 Noninterest income - net gains (losses) on sale of securities 120 284 Total before tax (42) (100) Tax (expense) benefit $ 78 $ 184 Net of tax Gains (losses) on cash flow hedging relationships: Interest rate contracts $ 118 $ 895 Interest income - loans and leases Interest rate contracts 20 (82) Noninterest income - other income 138 813 Total before tax (48) (285) Tax (expense) benefit $ 90 $ 528 Net of tax Amortization of defined benefit pension and post-retirement items: Actuarial gains (losses) $ (1,390) $ (888) Noninterest expense - personnel costs (1,390) (888) Total before tax 487 311 Tax (expense) benefit $ (903) $ (577) Net of tax Reclassifications out of accumulated OCI Amounts Location of net gain (loss) reclassified from reclassified from accumulated Accumulated OCI components accumulated OCI OCI into earnings Six Six Months Ended Months Ended (dollar amounts in thousands) June 30, 2015 June 30, 2014 Gains (losses) on debt securities: Amortization of unrealized gains (losses) $ 201 $ 338 Interest income - held-to-maturity securities - taxable Realized gain (loss) on sale of securities 40 15,321 Noninterest income - net gains (losses) on sale of securities 241 15,659 Total before tax (84) (5,481) Tax (expense) benefit $ 157 $ 10,178 Net of tax Gains (losses) on cash flow hedging relationships: Interest rate contracts $ 251 $ 3,787 Interest income - loans and leases Interest rate contracts 10 (82) Noninterest income - other income 261 3,705 Total before tax (91) (1,297) Tax (expense) benefit $ 170 $ 2,408 Net of tax Amortization of defined benefit pension and post-retirement items: Actuarial gains (losses) $ (2,779) $ (1,776) Noninterest expense - personnel costs (2,779) (1,776) Total before tax 973 622 Tax (expense) benefit $ (1,806) $ (1,154) Net of tax |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Jun. 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 six-month periods ended June 30, 2015 and 2014 , was as follows: Three Months Ended Six Months Ended March 31, June 30, (dollar amounts in thousands, except per share amounts) 2015 2014 2015 2014 Basic earnings per common share: Net income $ 196,206 $ 164,619 $ 362,060 $ 313,762 Preferred stock dividends (7,968) (7,963) (15,933) (15,927) Net income available to common shareholders $ 188,238 $ 156,656 $ 346,127 $ 297,835 Average common shares issued and outstanding 806,891 821,546 808,335 825,603 Basic earnings per common share $ 0.23 $ 0.19 $ 0.43 $ 0.36 Diluted earnings per common share: Net income available to common shareholders $ 188,238 $ 156,656 $ 346,127 $ 297,835 Effect of assumed preferred stock conversion --- --- --- --- Net income applicable to diluted earnings per share $ 188,238 $ 156,656 $ 346,127 $ 297,835 Average common shares issued and outstanding 806,891 821,546 808,335 825,603 Dilutive potential common shares: Stock options and restricted stock units and awards 11,250 11,395 11,688 11,426 Shares held in deferred compensation plans 1,912 1,245 1,809 1,249 Other 185 501 191 268 Dilutive potential common shares: 13,347 13,141 13,688 12,943 Total diluted average common shares issued and outstanding 820,238 834,687 822,023 838,546 Diluted earnings per common share $ 0.23 $ 0.19 $ 0.42 $ 0.36 |
Benefit Plans (Tables)
Benefit Plans (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Benefit Plans [Abstract] | |
Schedule of Net Benefit Costs [Table Text Block] | The fo llowing 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 Three Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Service cost (1) $ 458 $ 435 $ --- $ --- Interest cost 7,984 8,100 142 259 Expected return on plan assets (11,044) (11,446) --- --- Amortization of prior service cost --- --- (492) (339) Amortization of gain 1,984 1,442 (116) (144) Settlements 3,100 2,500 --- --- Benefit expense $ 2,482 $ 1,031 $ (466) $ (224) (1) Since no participants will be earning benefits after December 31, 2013, the 2014 and 2015 service cost represents only administrative expenses. Pension Benefits Post Retirement Benefits Six Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Service cost (1) $ 915 $ 870 $ --- $ --- Interest cost 15,969 16,200 283 518 Expected return on plan assets (22,087) (22,892) --- --- Amortization of prior service cost --- --- (984) (678) Amortization of gain 3,966 2,884 (232) (288) Settlements 5,650 5,000 --- --- Benefit expense $ 4,413 $ 2,062 $ (933) $ (448) (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 [Table Text Block] | The Bank, as trustee, held all Plan assets at June 30, 2015 and December 31, 2014 . The Plan assets consisted of the following investments : Fair Value (dollar amounts in thousands) June 30, 2015 December 31, 2014 Cash equivalents: Huntington funds - money market $ 6,164 1 % $ 16,136 2 % Fixed income: Corporate obligations 205,362 33 218,077 33 U.S. government obligations 59,893 9 62,627 10 Mutual funds - fixed income 36,393 6 34,761 5 U.S. government agencies 7,008 1 7,445 1 Equities: Mutual funds - equities 154,152 24 147,191 23 Other common stock 123,805 20 118,970 18 Huntington funds 25,564 4 37,920 6 Exchange traded funds 7,034 1 6,840 1 Limited partnerships 5,160 1 3,046 1 Fair value of plan assets $ 630,535 100 % $ 653,013 100 % |
Schedule of Costs of Retirement Plans [Table Text Block] | The following table shows the costs of providing the SERP, SRIP, and defined contribution plans: Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 SERP & SRIP $ 578 $ 487 $ 1,157 $ 963 Defined contribution plan 8,078 8,810 15,523 14,914 Benefit cost $ 8,656 $ 9,297 $ 16,680 $ 15,877 |
Fair Values of Assets and Lia37
Fair Values of Assets and Liabilities (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Fair Values of Assets and Liabilities [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 June 30, 2015 and December 31, 2014 are summarized below: Fair Value Measurements at Reporting Date Using Netting Balance at (dollar amounts in thousands) Level 1 Level 2 Level 3 Adjustments (1) June 30, 2015 Assets Loans held for sale $ --- $ 453,489 $ --- $ --- $ 453,489 Loans held for investment --- 34,997 --- --- 34,997 Trading account securities: U.S. Treasury securities --- --- --- --- --- Federal agencies: Mortgage-backed --- --- --- --- --- Federal agencies: Other agencies --- 8,506 --- --- 8,506 Municipal securities --- 4,182 --- --- 4,182 Other securities 32,908 13,550 --- --- 46,458 32,908 26,238 --- --- 59,146 Available-for-sale and other securities: U.S. Treasury securities 12,600 --- --- --- 12,600 Federal agencies: Mortgage-backed --- 6,161,270 --- --- 6,161,270 Federal agencies: Other agencies --- 329,184 --- --- 329,184 Municipal securities --- 401,520 1,716,845 --- 2,118,365 Private-label CMO --- 8,575 29,429 --- 38,004 Asset-backed securities --- 689,246 102,071 --- 791,317 Corporate debt --- 454,584 --- --- 454,584 Other securities 13,555 3,897 --- --- 17,452 26,155 8,048,276 1,848,345 --- 9,922,776 Automobile loans --- --- 3,998 --- 3,998 MSRs --- --- 20,681 --- 20,681 Derivative assets --- 469,106 6,399 (97,876) 377,629 Liabilities Derivative liabilities --- 313,377 1,233 (21,466) 293,144 Short-term borrowings --- 16,037 --- --- 16,037 Fair Value Measurements at Reporting Date Using Netting Balance at (dollar amounts in thousands) Level 1 Level 2 Level 3 Adjustments (1) December 31, 2014 Assets Loans held for sale $ --- $ 354,888 $ --- $ --- $ 354,888 Loans held for investment --- 40,027 --- --- 40,027 Trading account securities: U.S. Treasury securities --- --- --- --- --- Federal agencies: Mortgage-backed --- --- --- --- --- 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 Three Months Ended June 30, 2015 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities loans Opening balance $ 20,455 $ 7,825 $ 1,635,808 $ 30,072 $ 89,155 $ 6,495 Transfers into Level 3 --- --- --- --- --- --- Transfers out of Level 3 --- --- --- --- --- --- Total gains/losses for the period: Included in earnings 226 (1,780) --- 11 6 (213) Included in OCI --- --- 2,677 505 14,351 --- Purchases/originations --- --- 99,031 --- --- --- Sales --- --- --- --- --- --- Repayments --- --- --- --- --- (2,284) Issues --- --- --- --- --- --- Settlements --- (879) (20,671) (1,159) (1,441) --- Closing balance $ 20,681 $ 5,166 $ 1,716,845 $ 29,429 $ 102,071 $ 3,998 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 $ 226 $ (1,780) $ 2,677 $ 505 $ 14,351 $ (213) Level 3 Fair Value Measurements Three Months Ended June 30, 2014 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities loans Opening balance $ 30,628 $ 3,700 $ 734,378 $ 31,897 $ 109,969 $ 37,268 Transfers into Level 3 --- --- --- --- --- --- Transfers out of Level 3 --- --- --- --- --- --- Total gains/losses for the period: Included in earnings (3,881) 2,957 --- 7 15 (201) Included in OCI --- --- (14,061) 249 2,887 --- Purchases/originations --- --- 501,094 --- --- --- Sales --- --- --- --- --- --- Repayments --- --- --- --- --- (11,569) Issues --- --- --- --- --- --- Settlements --- (461) (14,956) (520) (6,410) --- Closing balance $ 26,747 $ 6,196 $ 1,206,455 $ 31,633 $ 106,461 $ 25,498 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 $ (3,881) $ 2,957 $ (14,061) $ 249 $ 2,887 $ (201) Level 3 Fair Value Measurements Six Months Ended June 30, 2015 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities 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 (2,105) 3,221 --- 27 6 (426) Included in OCI --- --- (1,315) 523 21,863 --- Purchases/originations --- --- 342,028 --- --- (6,166) Sales --- --- --- --- --- --- Repayments --- --- --- --- --- --- Issues --- --- --- --- --- --- Settlements --- (1,415) (41,461) (1,585) (2,536) --- Closing balance $ 20,681 $ 5,166 $ 1,716,845 $ 29,429 $ 102,071 $ 3,998 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 $ (2,105) $ 3,221 $ (1,315) $ 523 $ 21,863 $ (426) Level 3 Fair Value Measurements Six Months Ended June 30, 2014 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities 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 (7,489) 4,632 --- 17 37 (452) Included in OCI --- --- (6,789) 500 14,429 --- Purchases/originations --- --- 581,278 --- --- --- Sales --- --- --- --- --- --- Repayments --- --- --- --- --- (26,336) Issues --- --- --- --- --- --- Settlements --- (826) (22,571) (1,024) (15,424) --- Closing balance $ 26,747 $ 6,196 $ 1,206,455 $ 31,633 $ 106,461 $ 25,498 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 $ (7,489) $ 4,632 $ (6,789) $ 500 $ 14,430 $ (452) |
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 six-month periods ended June 30, 2015 and 2014 : Level 3 Fair Value Measurements Three Months Ended June 30, 2015 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities loans Classification of gains and losses in earnings: Mortgage banking income $ 226 $ (1,780) $ --- $ --- $ --- $ --- Securities gains (losses) --- --- --- --- --- --- Interest and fee income --- --- --- 11 6 (213) Noninterest income --- --- --- --- --- --- Total $ 226 $ (1,780) $ --- $ 11 $ 6 $ (213) Level 3 Fair Value Measurements Three Months Ended June 30, 2014 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities loans Classification of gains and losses in earnings: Mortgage banking income $ (3,881) $ 2,957 $ --- $ --- $ --- $ --- Securities gains (losses) --- --- --- --- --- --- Interest and fee income --- --- --- 7 15 (244) Noninterest income --- --- --- --- --- 43 Total $ (3,881) $ 2,957 $ --- $ 7 $ 15 $ (201) Level 3 Fair Value Measurements Six Months Ended June 30, 2015 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities loans Classification of gains and losses in earnings: Mortgage banking income $ (2,105) $ 3,221 $ --- $ --- $ --- $ --- Securities gains (losses) --- --- --- --- --- --- Interest and fee income --- --- --- 27 6 (426) Noninterest income --- --- --- --- --- --- Total $ (2,105) $ 3,221 $ --- $ 27 $ 6 $ (426) Level 3 Fair Value Measurements Six Months Ended June 30, 2014 Available-for-sale securities Asset- Derivative Municipal Private- backed Automobile (dollar amounts in thousands) MSRs instruments securities label CMO securities loans Classification of gains and losses in earnings: Mortgage banking income $ (7,489) $ 4,632 --- $ --- $ --- $ --- Securities gains (losses) --- --- --- --- --- --- Interest and fee income --- --- --- 17 37 (576) Noninterest income --- --- --- --- --- 124 Total $ (7,489) $ 4,632 $ --- $ 17 $ 37 $ (452) |
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 : June 30, 2015 December 31, 2014 Fair value Aggregate Fair value Aggregate carrying unpaid carrying unpaid (dollar amounts in thousands) amount principal Difference amount principal Difference Assets Loans held for sale $ 453,489 $ 442,306 $ 11,183 $ 354,888 $ 340,070 $ 14,818 Loans held for investment 34,997 35,776 (779) 40,027 40,938 (911) Automobile loans 3,998 3,856 142 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 six-month periods ended June 30, 2015 and 2014 : Net gains (losses) from fair value changes Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Assets Loans held for sale $ (6,559) $ (5,378) $ (5,557) $ 7,497 Automobile loans (213) (201) (426) (452) Gains (losses) included in fair value changes associated with instrument specific credit risk Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Assets Automobile loans $ 5 $ 251 $ 70 $ 573 |
Assets measured at fair value on a nonrecurring basis | A ssets measu red at fair value on a nonrecurring basis were as follows: Fair Value Measurements Using Quoted Prices Significant Significant Total Total In Active Other Other Gains/(Losses) Gains/(Losses) Markets for Observable Unobservable For the Three For the Six Identical Assets Inputs Inputs Months Ended Months Ended (dollar amounts in thousands) Fair Value (Level 1) (Level 2) (Level 3) June 30, 2015 June 30, 2015 MSRs $ 141,611 $ --- --- $ 141,611 $ 12,970 $ 4,980 Impaired loans 86,199 --- --- 86,199 5,171 (4,350) Other real estate owned 29,232 --- --- 29,232 1,430 3,263 |
Quantitative information about significant unobservable level 3 fair value measurement inputs | Quantitative Information about Level 3 Fair Value Measurements Significant Fair Value at Valuation Unobservable Range (dollar amounts in thousands) June 30, 2015 Technique Input (Weighted Average) MSRs $ 20,681 Discounted cash flow Constant prepayment rate 5.0% - 24.0% (14.0%) Spread over forward interest rate swap rates 325 - 1,166 (597) Net costs to service $26 - $120 ($47) Derivative assets 6,399 Consensus Pricing Net market price -4.8% - 18.5% (1.4%) Derivative liabilities 1,233 Estimated Pull through % 50.0% - 94.0% (78.0%) Municipal securities 1,716,845 Discounted cash flow Discount rate 0.5% - 3.8% (2.6%) Private-label CMO 29,429 Discounted cash flow Discount rate 2.7% - 7.4% (6.0%) Constant prepayment rate 12.0% - 32.6% (20.0%) Probability of default 0.1% - 4.0% (0.7%) Loss severity 0.0% - 64.0% (34.8%) Asset-backed securities 102,071 Discounted cash flow Discount rate 4.3% - 11.3% (5.8%) Cumulative prepayment rate 0.0% - 100.0% (8.9%) Cumulative default 1.8% - 100.0% (14.4%) Loss given default 85.0% - 100.0% (96.0%) Cure given deferral 0.0% - 75.0% (41.7%) Automobile loans 3,998 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 86,199 Appraisal value NA NA Other real estate owned 29,232 Appraisal value NA NA Quantitative Information about Level 3 Fair Value Measurements Fair Value at Valuation Significant Range (dollar amounts in thousands) December 31, 2014 Technique Unobservable Input (Weighted Average) MSRs $ 22,786 Discounted cash flow Constant prepayment rate 7% - 26% (16%) Spread over forward interest rate swap rates 228 - 900 (546) Net costs to service $21 - $79 ($40) 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 June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 Carrying Fair Carrying Fair (dollar amounts in thousands) Amount Value Amount Value Financial Assets Cash and short-term assets $ 1,451,378 $ 1,451,378 $ 1,285,124 $ 1,285,124 Trading account securities 59,146 59,146 42,191 42,191 Loans held for sale 548,054 548,054 416,327 416,327 Available-for-sale and other securities 10,254,871 10,254,871 9,384,670 9,384,670 Held-to-maturity securities 3,304,160 3,309,479 3,379,905 3,382,715 Net loans and leases 48,152,759 46,421,778 47,050,530 45,110,406 Derivatives 377,629 377,629 352,642 352,642 Financial Liabilities Deposits 53,473,179 53,835,268 51,732,151 52,454,804 Short-term borrowings 1,511,444 1,511,444 2,397,101 2,397,101 Long-term debt 5,854,584 5,830,328 4,335,962 4,286,304 Derivatives 293,144 293,144 284,255 284,255 Estimated Fair Value Measurements at Reporting Date Using Balance at (dollar amounts in thousands) Level 1 Level 2 Level 3 June 30, 2015 Financial Assets Held-to-maturity securities $ --- $ 3,309,479 $ --- $ 3,309,479 Net loans and leases --- --- 46,421,778 46,421,778 Financial Liabilities Deposits --- 50,117,029 3,718,239 53,835,268 Short-term borrowings --- --- 1,511,444 1,511,444 Other long-term debt --- --- 5,830,328 5,830,328 Estimated Fair Value Measurements at Reporting Date Using Balance at (dollar amounts in thousands) Level 1 Level 2 Level 3 December 31, 2014 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) | 3 Months Ended |
Jun. 30, 2015 | |
Derivative Financial Instruments [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 a sset and l iability m anagement activities at June 30, 2015 , identified by the underlying interest rate-sensitive instruments: Fair Value Cash Flow (dollar amounts in thousands ) Hedges Hedges Total Instruments associated with: Loans $ --- $ 9,248,500 $ 9,248,500 Deposits 69,100 --- 69,100 Subordinated notes 475,000 --- 475,000 Long-term debt 4,035,000 --- 4,035,000 Total notional value at June 30, 2015 $ 4,579,100 $ 9,248,500 $ 13,827,600 |
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 a sset and l iability m anagement activities at June 30, 2015 : Average Weighted-Average Notional Maturity Fair Rate (dollar amounts in thousands ) Value (years) Value Receive Pay Asset conversion swaps Receive fixed - generic $ 9,248,500 1.5 $ 10,249 0.80 % 0.27 % Total asset conversion swaps 9,248,500 1.5 10,249 0.80 0.27 Liability conversion swaps Receive fixed - generic 4,579,100 2.9 64,851 1.61 0.29 Total liability conversion swaps 4,579,100 2.9 64,851 1.61 0.29 Total swap portfolio $ 13,827,600 1.9 $ 75,100 1.07 % 0.27 % |
Asset and liability derivatives included in accrued income and other assets | The following table presents the fair values at June 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: June 30, December 31, (dollar amounts in thousands) 2015 2014 Interest rate contracts designated as hedging instruments $ 75,745 $ 53,114 Interest rate contracts not designated as hedging instruments 172,693 183,610 Foreign exchange contracts not designated as hedging instruments 39,477 32,798 Commodities contracts not designated as hedging instruments 174,510 180,218 Total contracts $ 462,425 $ 449,740 Liability derivatives included in accrued expenses and other liabilities: June 30, December 31, (dollar amounts in thousands) 2015 2014 Interest rate contracts designated as hedging instruments $ 645 $ 12,648 Interest rate contracts not designated as hedging instruments 102,403 110,627 Foreign exchange contracts not designated as hedging instruments 38,251 29,754 Commodities contracts not designated as hedging instruments 171,967 179,180 Total contracts $ 313,266 $ 332,209 |
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Interest rate contracts Change in fair value of interest rate swaps hedging deposits (1) $ (245) $ (238) $ (458) $ (505) Change in fair value of hedged deposits (1) 236 228 450 494 Change in fair value of interest rate swaps hedging subordinated notes (2) (7,362) 3,015 (4,131) 4,081 Change in fair value of hedged subordinated notes (2) 7,362 (3,015) 4,131 (4,081) Change in fair value of interest rate swaps hedging other long-term debt (2) (8,129) 10,303 11,896 6,252 Change in fair value of hedged other long-term debt (2) 7,382 (9,948) (12,263) (3,474) (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 fro m OCI into earnings for the three-month and six-month periods ended June 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 Three Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Interest rate contracts Loans $ (539) $ 17,714 Interest and fee income - loans and leases $ (118) $ (895) Investment Securities --- --- Noninterest income - other income (20) 82 Total $ (539) $ 17,714 $ (138) $ (813) 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) Six Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Interest rate contracts Loans $ 17,756 $ 19,537 Interest and fee income - loans and leases $ (250) $ (3,787) Investment Securities --- --- Interest and fee income - investment securities (11) 82 Total $ 17,756 $ 19,537 $ (261) $ (3,705) |
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 o n the ineffective portion on interest rate contracts for derivatives designated as cash flow hedges for the three-month and six-month periods ended June 30, 2015 and 2014 : Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Derivatives in cash flow hedging relationships Interest rate contracts Loans $ 133 $ (161) $ (30) $ (29) |
Offsetting of financial assets and derivatives assets | 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 June 30, 2015 Derivatives $ 493,374 $ (115,745) $ 377,629 $ (38,544) $ (3,688) $ 335,397 December 31, 2014 Derivatives 480,803 (128,161) 352,642 (27,744) (1,095) 323,803 |
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 June 30, 2015 Derivatives $ 332,479 $ (39,335) $ 293,144 $ (59,024) $ (268) $ 233,852 December 31, 2014 Derivatives 363,192 (78,937) 284,255 (78,654) (111) 205,490 June 30, December 31, (dollar amounts in thousands) 2015 2014 Derivative assets: Interest rate lock agreements $ 6,399 $ 4,064 Forward trades and options 6,681 35 Total derivative assets 13,080 4,099 Derivative liabilities: Interest rate lock agreements (788) (259) Forward trades and options (556) (3,760) Total derivative liabilities (1,344) (4,019) Net derivative asset (liability) $ 11,736 $ 80 |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Variable Interest Entities [Abstract] | |
Carrying amount and classification of the trusts assets and liabilities | The following tables present t he carrying amount and classification of the consolidated trusts’ assets and liabilities that were included in the Unaudited Condensed Consolidated Balance Sheet s at June 30, 2015 and December 31, 2014 : June 30, 2015 Huntington Technology Funding Trust Other Series Series Consolidated (dollar amounts in thousands) 2012A 2014A Trusts Total Assets: Cash $ --- $ --- $ --- $ --- Loans and leases 50,844 209,594 --- 260,438 Allowance for loan and lease losses --- --- --- --- Net loans and leases 50,844 209,594 --- 260,438 Accrued income and other assets --- --- 229 229 Total assets $ 50,844 $ 209,594 $ 229 $ 260,667 Liabilities: Other long-term debt $ 42,103 $ 176,996 $ --- $ 219,099 Accrued interest and other liabilities --- --- 229 229 Total liabilities $ 42,103 $ 176,996 $ 229 $ 219,328 Equity: Beneficial Interest owned by third party $ 8,741 $ 32,598 $ --- $ 41,339 Total liabilities and equity $ 50,844 $ 209,594 $ 229 $ 260,667 December 31, 2014 Other Consolidated (dollar amounts in thousands) Trusts 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 following table s provide a summary of the assets and liabilities included i n 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 June 30, 2015 , and December 31, 2014 : June 30, 2015 (dollar amounts in thousands) Total Assets Total Liabilities Maximum Exposure to Loss 2015-1 Automobile Trust $ 10,838 $ --- $ 10,838 2012-1 Automobile Trust 895 --- 895 2012-2 Automobile Trust 1,836 --- 1,836 2011 Automobile Trust 386 --- 386 Tower Hill Securities, Inc. 46,688 65,000 46,688 Trust Preferred Securities 13,919 317,090 --- Low Income Housing Tax Credit Partnerships 397,297 174,573 397,297 Other Investments 84,050 25,387 84,050 Total $ 545,071 $ 582,050 $ 531,152 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 |
Summary of Outstanding Trust Preferred Securities | A list of trust preferred securities outstanding at June 30, 2015 follows: Principal amount of Investment in subordinated note/ unconsolidated (dollar amounts in thousands) Rate debenture issued to trust (1) subsidiary Huntington Capital I 0.98 % (2) $ 111,816 $ 6,186 Huntington Capital II 0.91 (3) 54,593 3,093 Sky Financial Capital Trust III 1.68 (4) 72,165 2,165 Sky Financial Capital Trust IV 1.67 (4) 74,320 2,320 Camco Financial Trust 2.72 (5) 4,196 155 Total $ 317,090 $ 13,919 (1) Represents the principal amount of debentures issued to each trust, including unamortized original issue discount. (2) Variable effective rate at June 30, 2015, based on three month LIBOR + 0.70. (3) Variable effective rate at June 30, 2015, based on three month LIBOR + 0.625. (4) Variable effective rate at June 30, 2015, based on three month LIBOR + 1.40. (5) Variable effective rate (including impact of purchase accounting accretion) at June 30, 2015, based on three month LIBOR + 1.33. |
Affordable housing tax credit investments | June 30, December 31, (dollar amounts in thousands) 2015 2014 Affordable housing tax credit investments $ 625,465 $ 576,381 Less: amortization (228,167) (208,098) Net affordable housing tax credit investments $ 397,298 $ 368,283 Unfunded commitments $ 174,573 $ 154,861 Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in thousands) 2015 2014 2015 2014 Tax credits and other tax benefits recognized $ 14,434 $ 13,744 $ 30,181 $ 28,061 Proportional amortization method Tax credit amortization expense included in provision for income taxes 11,218 9,518 22,292 18,877 Equity method Tax credit investment losses included in non-interest income 147 223 294 446 |
Commitments and Contingent Li40
Commitments and Contingent Liabilities (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingent Liabilities [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 F inancial S tatements. The contract ual amounts of these financial agreements at June 30, 2015 and December 31, 2014 , were as follows: June 30, December 31, (dollar amounts in thousands) 2015 2014 Contract amount represents credit risk: Commitments to extend credit Commercial $ 10,898,478 $ 11,181,522 Consumer 8,053,179 7,579,632 Commercial real estate 925,688 908,112 Standby letters-of-credit 487,366 497,457 Commercial letters-of-credit 24,662 36,460 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Segment Reporting [Abstract] | |
Segment Disclosure of Assets and Deposits | Three Months Ended June 30, Retail & Income Statements Business Commercial Home Treasury/ Huntington (dollar amounts in thousands) Banking Banking AFCRE RBHPCG Lending Other Consolidated 2015 Net interest income $ 256,921 $ 94,413 $ 95,042 $ 27,751 $ 16,353 $ 206 $ 490,686 Provision (reduction in allowance) for credit losses 19,401 (3,027) 3,498 1,596 (1,049) --- 20,419 Noninterest income 112,938 70,344 11,574 37,963 31,976 16,978 281,773 Noninterest expense 260,344 76,373 37,855 63,220 41,639 12,346 491,777 Income taxes 31,540 31,994 22,842 314 2,709 (25,342) 64,057 Net income $ 58,574 $ 59,417 $ 42,421 $ 584 $ 5,030 $ 30,180 $ 196,206 2014 Net interest income $ 228,343 $ 76,980 $ 97,304 $ 25,722 $ 14,349 $ 17,350 $ 460,048 Provision (reduction in allowance) for credit losses 33,974 8,499 (17,542) (145) 4,599 --- 29,385 Noninterest income 107,533 50,305 9,047 46,870 18,821 17,491 250,067 Noninterest expense 245,839 65,453 38,690 60,025 32,843 15,786 458,636 Income taxes 19,622 18,667 29,821 4,449 (1,495) (13,589) 57,475 Net income $ 36,441 $ 34,666 $ 55,382 $ 8,263 $ (2,777) $ 32,644 $ 164,619 Six Months Ended June 30, Retail & Income Statements Business Commercial Home Treasury/ Huntington (dollar amounts in thousands) Banking Banking AFCRE RBHPCG Lending Other Consolidated 2015 Net interest income $ 505,571 $ 169,331 $ 190,204 $ 54,575 $ 31,630 $ 7,060 $ 958,371 Provision for credit losses 26,553 3,807 2,115 4,241 4,294 --- 41,010 Noninterest income 208,696 125,237 16,249 78,388 50,634 34,192 513,396 Noninterest expense 516,525 132,790 74,033 121,848 77,427 28,011 950,634 Income taxes 59,916 55,290 45,607 2,406 190 (45,346) 118,063 Net income $ 111,273 $ 102,681 $ 84,698 $ 4,468 $ 353 $ 58,587 $ 362,060 2014 Net interest income $ 448,184 $ 147,923 $ 185,884 $ 51,160 $ 27,377 $ 37,026 $ 897,554 Provision for credit losses 41,434 20,046 (26,149) 2,174 16,510 --- 54,015 Noninterest income 200,495 100,621 13,540 89,984 39,107 54,805 498,552 Noninterest expense 481,114 125,873 76,853 116,048 67,966 50,903 918,757 Income taxes 44,146 35,919 52,052 8,023 (6,297) (24,271) 109,572 Net income $ 81,985 $ 66,706 $ 96,668 $ 14,899 $ (11,695) $ 65,199 $ 313,762 Assets at Deposits at June 30, December 31, June 30, December 31, (dollar amounts in thousands) 2015 2014 2015 2014 Retail & Business Banking $ 15,685,507 $ 15,146,857 $ 29,983,334 $ 29,350,255 Commercial Banking 16,232,517 15,043,477 10,908,387 11,184,566 AFCRE 16,517,075 16,027,910 1,518,905 1,377,921 RBHPCG 3,453,395 3,871,020 7,265,046 6,727,892 Home Lending 4,076,919 3,949,247 339,631 326,841 Treasury / Other 12,880,235 12,259,499 3,457,876 2,764,676 Total $ 68,845,648 $ 66,298,010 $ 53,473,179 $ 51,732,151 |
Loans and Leases and Allowanc42
Loans and Leases and Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Mar. 02, 2014 | Dec. 31, 2013 | Mar. 30, 2012 | |
Loan and Lease Portfolio | ||||||||||
Commercial and industrial | $ 20,002,676 | $ 20,002,676 | $ 19,033,146 | |||||||
Commercial real estate | 5,213,793 | 5,213,793 | 5,197,403 | |||||||
Automobile | 8,549,081 | 8,549,081 | 8,689,902 | |||||||
Home equity | 8,526,276 | 8,526,276 | 8,490,915 | |||||||
Residential mortgage | 5,987,000 | 5,987,000 | 5,830,609 | |||||||
Other consumer | 473,475 | 473,475 | 413,751 | |||||||
Loans and leases | 48,752,301 | 48,752,301 | 47,655,726 | |||||||
Allowance for loan and lease losses | (599,542) | $ (635,101) | (599,542) | $ (635,101) | $ (605,126) | (605,196) | $ (631,918) | $ (647,870) | ||
Net loans and leases | 48,152,759 | 48,152,759 | 47,050,530 | |||||||
Loan Purchases and Sales | ||||||||||
Portfolio loans purchased | 369,345 | 165,482 | 413,570 | 205,603 | ||||||
Portfolio loans sold or transferred to loans held for sale | 100,202 | 65,459 | 1,212,097 | 119,757 | ||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 364,339 | 364,339 | 300,244 | |||||||
Camco Financial [Member] | ||||||||||
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 | 0 | 143 | |||||
Rollforward of accretable yield | ||||||||||
Accretable yield balance, beginning of period | 879 | 134 | 824 | 0 | ||||||
Impact of acquisition | 0 | 0 | 0 | 0 | $ 143 | |||||
Adjustments resulting from changes in purchase price allocation | 0 | 0 | 0 | 0 | ||||||
Accretion | (914) | (5,173) | (1,250) | (5,182) | ||||||
Reclassification from nonaccretable difference | 716 | 5,193 | 1,107 | 5,193 | ||||||
Accretable yield balance, end of period | 681 | 154 | 681 | 154 | ||||||
Ending balance and unpaid balance of acquired loans | ||||||||||
Ending balance | 1,849 | 1,849 | 2,531 | |||||||
Unpaid balance | 2,603 | 2,603 | 5,511 | |||||||
Fidelity Bank [Member] | ||||||||||
Business Combinations [Abstract] | ||||||||||
Leases acquired at fair value as of acquisition date | $ 523,900 | |||||||||
Rollforward of accretable yield | ||||||||||
Accretable yield balance, beginning of period | 20,191 | 24,758 | 19,388 | 27,995 | ||||||
Adjustments resulting from changes in purchase price allocation | 0 | 0 | 0 | 0 | ||||||
Accretion | (2,990) | (3,647) | (5,864) | (7,651) | ||||||
Reclassification from nonaccretable difference | 2,111 | 3,485 | 5,788 | 4,252 | ||||||
Accretable yield balance, end of period | 19,312 | 24,596 | 19,312 | 24,596 | ||||||
Ending balance and unpaid balance of acquired loans | ||||||||||
Ending balance | 47,955 | 47,955 | 61,031 | |||||||
Unpaid balance | 105,053 | 105,053 | 124,091 | |||||||
Macquarie Equipment Finance [Member] | ||||||||||
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 [Member] | ||||||||||
Loan and Lease Portfolio | ||||||||||
Commercial and industrial | 4,199,859 | 4,199,859 | 4,254,875 | |||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 44,864 | 44,864 | 41,285 | |||||||
Commercial and industrial purchased impaired | ||||||||||
Loan and Lease Portfolio | ||||||||||
Commercial and industrial | 20,122 | 20,122 | 23,228 | |||||||
Other commercial and industrial [Member] | ||||||||||
Loan and Lease Portfolio | ||||||||||
Commercial and industrial | 15,782,695 | 15,782,695 | 14,755,043 | |||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 104,849 | 104,849 | 30,689 | |||||||
Commercial and Industrial [Member] | ||||||||||
Loan and Lease Portfolio | ||||||||||
Loans and leases | 20,002,676 | 20,002,676 | 19,033,146 | |||||||
Allowance for loan and lease losses | (285,041) | (278,512) | (285,041) | (278,512) | (284,573) | (286,995) | (266,979) | (265,801) | ||
Loan Purchases and Sales | ||||||||||
Portfolio loans purchased | 31,905 | 165,482 | 44,496 | 205,603 | ||||||
Portfolio loans sold or transferred to loans held for sale | 100,202 | 50,472 | 185,902 | 104,731 | ||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 149,713 | 149,713 | 71,974 | |||||||
Commercial and Industrial [Member] | Camco Financial [Member] | ||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||
Ending balance | 0 | 0 | 823 | |||||||
Unpaid balance | 0 | 0 | 1,685 | |||||||
Commercial and Industrial [Member] | Fidelity Bank [Member] | ||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||
Ending balance | 20,122 | 20,122 | 22,405 | |||||||
Unpaid balance | 29,969 | 29,969 | 33,622 | |||||||
Commercial real estate retail properties [Member] | ||||||||||
Loan and Lease Portfolio | ||||||||||
Commercial real estate | 1,355,518 | 1,355,518 | 1,357,746 | |||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 18,314 | 18,314 | 21,385 | |||||||
Commercial real estate Multi family [Member] | ||||||||||
Loan and Lease Portfolio | ||||||||||
Commercial real estate | 1,120,584 | 1,120,584 | 1,090,416 | |||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 5,647 | 5,647 | 9,743 | |||||||
Commercial real estate office [Member] | ||||||||||
Loan and Lease Portfolio | ||||||||||
Commercial real estate | 930,940 | 930,940 | 980,303 | |||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 14,545 | 14,545 | 7,707 | |||||||
Commercial real estate Industrial and warehouse [Member] | ||||||||||
Loan and Lease Portfolio | ||||||||||
Commercial real estate | 501,087 | 501,087 | 513,401 | |||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 1,182 | 1,182 | 3,928 | |||||||
Commercial real estate purchased impaired | ||||||||||
Loan and Lease Portfolio | ||||||||||
Commercial real estate | 27,591 | 27,591 | 38,371 | |||||||
Other commercial real estate [Member] | ||||||||||
Loan and Lease Portfolio | ||||||||||
Commercial real estate | 1,278,073 | 1,278,073 | 1,217,166 | |||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 4,200 | 4,200 | 5,760 | |||||||
Commercial Real Estate [Member] | ||||||||||
Loan and Lease Portfolio | ||||||||||
Loans and leases | 5,213,793 | 5,213,793 | 5,197,403 | |||||||
Allowance for loan and lease losses | (92,060) | (137,346) | (92,060) | (137,346) | (100,752) | (102,839) | (160,306) | (162,557) | ||
Loan Purchases and Sales | ||||||||||
Portfolio loans purchased | 0 | 0 | 0 | 0 | ||||||
Portfolio loans sold or transferred to loans held for sale | 0 | 7,395 | 0 | 7,434 | ||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 43,888 | 43,888 | 48,523 | |||||||
Commercial Real Estate [Member] | Camco Financial [Member] | ||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||
Ending balance | 1,849 | 1,849 | 1,708 | |||||||
Unpaid balance | 2,603 | 2,603 | 3,826 | |||||||
Commercial Real Estate [Member] | Fidelity Bank [Member] | ||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||
Ending balance | 25,742 | 25,742 | 36,663 | |||||||
Unpaid balance | 71,953 | 71,953 | 87,250 | |||||||
Automobile Loan [Member] | ||||||||||
Loan and Lease Portfolio | ||||||||||
Loans and leases | 8,549,081 | 8,549,081 | 8,689,902 | |||||||
Allowance for loan and lease losses | (39,102) | (27,158) | (39,102) | (27,158) | (37,125) | (33,466) | (25,178) | (31,053) | ||
Loan Purchases and Sales | ||||||||||
Portfolio loans purchased | 262,037 | 0 | 262,037 | 0 | ||||||
Portfolio loans sold or transferred to loans held for sale | 0 | 0 | 1,026,195 | 0 | ||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 4,190 | 4,190 | 4,623 | |||||||
Automobile Loan [Member] | Camco Financial [Member] | ||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||
Ending balance | 0 | 0 | 0 | |||||||
Unpaid balance | 0 | 0 | 0 | |||||||
Automobile Loan [Member] | Fidelity Bank [Member] | ||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||
Ending balance | 0 | 0 | 0 | |||||||
Unpaid balance | 0 | 0 | 0 | |||||||
Home equity secured by first-lien other [Member] | ||||||||||
Loan and Lease Portfolio | ||||||||||
Home equity | 5,205,057 | 5,205,057 | ||||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 42,424 | 42,424 | 46,938 | |||||||
Home equity secured by junior-lien [Member] | ||||||||||
Loan and Lease Portfolio | ||||||||||
Home equity | 3,321,219 | 3,321,219 | ||||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 32,926 | 32,926 | 31,622 | |||||||
Home Equity [Member] | ||||||||||
Loan and Lease Portfolio | ||||||||||
Loans and leases | 8,526,276 | 8,526,276 | 8,490,915 | |||||||
Allowance for loan and lease losses | (111,178) | (105,943) | (111,178) | (105,943) | (110,280) | (96,413) | (113,177) | (111,131) | ||
Loan Purchases and Sales | ||||||||||
Portfolio loans purchased | 0 | 0 | 0 | 0 | ||||||
Portfolio loans sold or transferred to loans held for sale | 0 | 0 | 0 | 0 | ||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 75,350 | 75,350 | 78,560 | |||||||
Home Equity [Member] | Camco Financial [Member] | ||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||
Ending balance | 0 | 0 | 0 | |||||||
Unpaid balance | 0 | 0 | 0 | |||||||
Home Equity [Member] | Fidelity Bank [Member] | ||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||
Ending balance | 0 | 0 | 0 | |||||||
Unpaid balance | 0 | 0 | 0 | |||||||
Residential mortgage other | ||||||||||
Loan and Lease Portfolio | ||||||||||
Residential mortgage | 5,984,960 | 5,984,960 | ||||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 91,198 | 91,198 | 96,564 | |||||||
Residential mortgage purchased impaired | ||||||||||
Loan and Lease Portfolio | ||||||||||
Residential mortgage | 2,040 | 2,040 | ||||||||
Residential Mortgage [Member] | ||||||||||
Loan and Lease Portfolio | ||||||||||
Loans and leases | 5,987,000 | 5,987,000 | 5,830,609 | |||||||
Allowance for loan and lease losses | (51,679) | (47,191) | (51,679) | (47,191) | (55,380) | (47,211) | (39,068) | (39,577) | ||
Loan Purchases and Sales | ||||||||||
Portfolio loans purchased | 75,403 | 0 | 107,037 | 0 | ||||||
Portfolio loans sold or transferred to loans held for sale | 0 | 0 | 0 | 0 | ||||||
Residential Mortgage [Member] | Camco Financial [Member] | ||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||
Ending balance | 0 | 0 | 0 | |||||||
Unpaid balance | 0 | 0 | 0 | |||||||
Residential Mortgage [Member] | Fidelity Bank [Member] | ||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||
Ending balance | 2,040 | 2,040 | 1,912 | |||||||
Unpaid balance | 3,017 | 3,017 | 3,096 | |||||||
Other consumer other | ||||||||||
Loan and Lease Portfolio | ||||||||||
Other consumer | 473,424 | 473,424 | ||||||||
Non Accrual Loans | ||||||||||
Non Accrual loans | 0 | 0 | 0 | |||||||
Other consumer purchased impaired | ||||||||||
Loan and Lease Portfolio | ||||||||||
Other consumer | 51 | 51 | ||||||||
Other Consumer loan [Member] | ||||||||||
Loan and Lease Portfolio | ||||||||||
Loans and leases | 473,475 | 473,475 | 413,751 | |||||||
Allowance for loan and lease losses | (20,482) | (38,951) | (20,482) | (38,951) | $ (17,016) | (38,272) | $ (27,210) | $ (37,751) | ||
Loan Purchases and Sales | ||||||||||
Portfolio loans purchased | 0 | 0 | 0 | 0 | ||||||
Portfolio loans sold or transferred to loans held for sale | 0 | $ 7,592 | 0 | $ 7,592 | ||||||
Other Consumer loan [Member] | Camco Financial [Member] | ||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||
Ending balance | 0 | 0 | 0 | |||||||
Unpaid balance | 0 | 0 | 0 | |||||||
Other Consumer loan [Member] | Fidelity Bank [Member] | ||||||||||
Ending balance and unpaid balance of acquired loans | ||||||||||
Ending balance | 51 | 51 | 51 | |||||||
Unpaid balance | $ 114 | $ 114 | $ 123 |
Loans and Leases and Allowanc43
Loans and Leases and Allowance for Credit Losses (Details 1) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 | ||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | $ 20,002,676,000 | $ 19,033,146,000 | ||
Commercial real estate | 5,213,793,000 | 5,197,403,000 | ||
Automobile | 8,549,081,000 | 8,689,902,000 | ||
Home equity | 8,526,276,000 | 8,490,915,000 | ||
Residential mortgage | 5,987,000,000 | 5,830,609,000 | ||
Other consumer | 473,475,000 | 413,751,000 | ||
Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 4,199,859,000 | 4,254,875,000 | ||
Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 20,122,000 | 23,228,000 | ||
Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 15,782,695,000 | 14,755,043,000 | ||
Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,355,518,000 | 1,357,746,000 | ||
Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,120,584,000 | 1,090,416,000 | ||
Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 930,940,000 | 980,303,000 | ||
Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 501,087,000 | 513,401,000 | ||
Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 27,591,000 | 38,371,000 | ||
Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,278,073,000 | 1,217,166,000 | ||
Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 5,205,057,000 | |||
Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 3,321,219,000 | |||
Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 5,984,960,000 | |||
Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 2,040,000 | |||
Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 473,424,000 | |||
Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 51,000 | |||
Due Past 30 To 59 Days [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 37,465,000 | 21,408,000 | ||
Commercial real estate | 7,503,000 | 11,471,000 | ||
Automobile | 50,355,000 | 56,272,000 | ||
Home equity | 40,566,000 | 37,509,000 | ||
Residential mortgage | 92,554,000 | 102,702,000 | ||
Other consumer | 5,624,000 | 5,491,000 | ||
Due Past 30 To 59 Days [Member] | Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 8,420,000 | 5,232,000 | ||
Due Past 30 To 59 Days [Member] | Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 409,000 | 846,000 | ||
Due Past 30 To 59 Days [Member] | Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 28,636,000 | 15,330,000 | ||
Due Past 30 To 59 Days [Member] | Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 425,000 | 7,866,000 | ||
Due Past 30 To 59 Days [Member] | Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 2,092,000 | 1,517,000 | ||
Due Past 30 To 59 Days [Member] | Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 3,090,000 | 464,000 | ||
Due Past 30 To 59 Days [Member] | Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 420,000 | 688,000 | ||
Due Past 30 To 59 Days [Member] | Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,166,000 | 89,000 | ||
Due Past 30 To 59 Days [Member] | Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 310,000 | 847,000 | ||
Due Past 30 To 59 Days [Member] | Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 16,903,000 | 15,036,000 | ||
Due Past 30 To 59 Days [Member] | Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 23,663,000 | 22,473,000 | ||
Due Past 30 To 59 Days [Member] | Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 92,554,000 | 102,702,000 | ||
Due Past 30 To 59 Days [Member] | Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 0 | 0 | ||
Due Past 30 To 59 Days [Member] | Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 5,624,000 | 5,491,000 | ||
Due Past 30 To 59 Days [Member] | Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 0 | 0 | ||
Due Past 60 To 89 Days [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 21,691,000 | 4,517,000 | ||
Commercial real estate | 3,623,000 | 3,049,000 | ||
Automobile | 10,373,000 | 10,427,000 | ||
Home equity | 16,830,000 | 20,382,000 | ||
Residential mortgage | 37,877,000 | 42,009,000 | ||
Other consumer | 1,120,000 | 1,086,000 | ||
Due Past 60 To 89 Days [Member] | Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 3,328,000 | 2,981,000 | ||
Due Past 60 To 89 Days [Member] | Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 0 | 0 | ||
Due Past 60 To 89 Days [Member] | Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 18,363,000 | 1,536,000 | ||
Due Past 60 To 89 Days [Member] | Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,167,000 | 0 | ||
Due Past 60 To 89 Days [Member] | Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 12,000 | 312,000 | ||
Due Past 60 To 89 Days [Member] | Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 0 | 1,167,000 | ||
Due Past 60 To 89 Days [Member] | Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 327,000 | 0 | ||
Due Past 60 To 89 Days [Member] | Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 2,012,000 | 289,000 | ||
Due Past 60 To 89 Days [Member] | Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 105,000 | 1,281,000 | ||
Due Past 60 To 89 Days [Member] | Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 7,266,000 | 8,085,000 | ||
Due Past 60 To 89 Days [Member] | Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 9,564,000 | 12,297,000 | ||
Due Past 60 To 89 Days [Member] | Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 37,877,000 | 42,009,000 | ||
Due Past 60 To 89 Days [Member] | Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 0 | 0 | ||
Due Past 60 To 89 Days [Member] | Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 1,120,000 | 1,086,000 | ||
Due Past 60 To 89 Days [Member] | Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 0 | 0 | ||
Due Past 90 Or More Days [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 50,641,000 | 32,260,000 | ||
Commercial real estate | 23,164,000 | 37,181,000 | ||
Automobile | 4,388,000 | 5,963,000 | ||
Home equity | 63,733,000 | 66,420,000 | ||
Residential mortgage | 118,641,000 | 139,379,000 | ||
Other consumer | 847,000 | 837,000 | ||
Due Past 90 Or More Days [Member] | Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 23,594,000 | 18,222,000 | ||
Due Past 90 Or More Days [Member] | Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 4,765,000 | 4,937,000 | ||
Due Past 90 Or More Days [Member] | Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 22,282,000 | 9,101,000 | ||
Due Past 90 Or More Days [Member] | Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 3,356,000 | 4,021,000 | ||
Due Past 90 Or More Days [Member] | Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 2,477,000 | 3,337,000 | ||
Due Past 90 Or More Days [Member] | Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,929,000 | 4,415,000 | ||
Due Past 90 Or More Days [Member] | Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 430,000 | 2,649,000 | ||
Due Past 90 Or More Days [Member] | Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 10,920,000 | 18,793,000 | ||
Due Past 90 Or More Days [Member] | Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 4,052,000 | 3,966,000 | ||
Due Past 90 Or More Days [Member] | Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 29,861,000 | 33,014,000 | ||
Due Past 90 Or More Days [Member] | Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 33,872,000 | 33,406,000 | ||
Due Past 90 Or More Days [Member] | Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 118,641,000 | 139,379,000 | ||
Due Past 90 Or More Days [Member] | Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 0 | 0 | ||
Due Past 90 Or More Days [Member] | Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 847,000 | 837,000 | ||
Due Past 90 Or More Days [Member] | Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 0 | 0 | ||
Due Past [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 109,797,000 | 58,185,000 | ||
Commercial real estate | 34,290,000 | 51,701,000 | ||
Automobile | 65,116,000 | 72,662,000 | ||
Home equity | 121,129,000 | 124,311,000 | ||
Residential mortgage | 249,072,000 | 284,090,000 | ||
Other consumer | 7,591,000 | 7,414,000 | ||
Due Past [Member] | Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 35,342,000 | 26,435,000 | ||
Due Past [Member] | Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 5,174,000 | 5,783,000 | ||
Due Past [Member] | Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 69,281,000 | 25,967,000 | ||
Due Past [Member] | Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 4,948,000 | 11,887,000 | ||
Due Past [Member] | Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 4,581,000 | 5,166,000 | ||
Due Past [Member] | Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 5,019,000 | 6,046,000 | ||
Due Past [Member] | Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,177,000 | 3,337,000 | ||
Due Past [Member] | Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 14,098,000 | 19,171,000 | ||
Due Past [Member] | Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 4,467,000 | 6,094,000 | ||
Due Past [Member] | Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 54,030,000 | 56,135,000 | ||
Due Past [Member] | Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 67,099,000 | 68,176,000 | ||
Due Past [Member] | Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 249,072,000 | 284,090,000 | ||
Due Past [Member] | Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 0 | 0 | ||
Due Past [Member] | Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 7,591,000 | 7,414,000 | ||
Due Past [Member] | Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 0 | 0 | ||
Current Loans And Leases [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 19,892,879,000 | 18,974,961,000 | ||
Commercial real estate | 5,179,503,000 | 5,145,702,000 | ||
Automobile | 8,483,965,000 | 8,617,240,000 | ||
Home equity | 8,405,147,000 | 8,366,604,000 | ||
Residential mortgage | 5,737,928,000 | 5,546,519,000 | ||
Other consumer | 465,884,000 | 406,337,000 | ||
Current Loans And Leases [Member] | Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 4,164,517,000 | 4,228,440,000 | ||
Current Loans And Leases [Member] | Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 14,948,000 | 17,445,000 | ||
Current Loans And Leases [Member] | Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 15,713,414,000 | 14,729,076,000 | ||
Current Loans And Leases [Member] | Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,350,570,000 | 1,345,859,000 | ||
Current Loans And Leases [Member] | Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,116,003,000 | 1,085,250,000 | ||
Current Loans And Leases [Member] | Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 925,921,000 | 974,257,000 | ||
Current Loans And Leases [Member] | Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 499,910,000 | 510,064,000 | ||
Current Loans And Leases [Member] | Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 13,493,000 | 19,200,000 | ||
Current Loans And Leases [Member] | Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,273,606,000 | 1,211,072,000 | ||
Current Loans And Leases [Member] | Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 5,151,027,000 | 5,072,669,000 | ||
Current Loans And Leases [Member] | Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 3,254,120,000 | 3,293,935,000 | ||
Current Loans And Leases [Member] | Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 5,735,888,000 | 5,544,607,000 | ||
Current Loans And Leases [Member] | Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 2,040,000 | 1,912,000 | ||
Current Loans And Leases [Member] | Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 465,833,000 | 406,286,000 | ||
Current Loans And Leases [Member] | Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 51,000 | 51,000 | ||
Total Loans And Leases [Member] | Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 4,199,859,000 | 4,254,875,000 | ||
Total Loans And Leases [Member] | Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 20,122,000 | 23,228,000 | ||
Total Loans And Leases [Member] | Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 15,782,695,000 | 14,755,043,000 | ||
Total Loans And Leases [Member] | Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,355,518,000 | 1,357,746,000 | ||
Total Loans And Leases [Member] | Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,120,584,000 | 1,090,416,000 | ||
Total Loans And Leases [Member] | Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 930,940,000 | 980,303,000 | ||
Total Loans And Leases [Member] | Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 501,087,000 | 513,401,000 | ||
Total Loans And Leases [Member] | Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 27,591,000 | 38,371,000 | ||
Total Loans And Leases [Member] | Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,278,073,000 | 1,217,166,000 | ||
Total Loans And Leases [Member] | Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 5,205,057,000 | 5,128,804,000 | ||
Total Loans And Leases [Member] | Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 3,321,219,000 | 3,362,111,000 | ||
Total Loans And Leases [Member] | Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 5,984,960,000 | 5,828,697,000 | ||
Total Loans And Leases [Member] | Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 2,040,000 | 1,912,000 | ||
Total Loans And Leases [Member] | Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 473,424,000 | 413,700,000 | ||
Total Loans And Leases [Member] | Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 51,000 | 51,000 | ||
Due Past And Accruing 90 Or More Days [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 6,621,000 | [1] | 4,937,000 | |
Commercial real estate | 10,920,000 | [1] | 18,793,000 | |
Automobile | 4,269,000 | 5,703,000 | ||
Home equity | 11,713,000 | 12,159,000 | ||
Residential mortgage | 72,509,000 | 88,052,000 | ||
Other consumer | 846,000 | 837,000 | ||
Due Past And Accruing 90 Or More Days [Member] | Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 0 | 0 | ||
Due Past And Accruing 90 Or More Days [Member] | Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 4,765,000 | 4,937,000 | ||
Due Past And Accruing 90 Or More Days [Member] | Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 1,856,000 | 0 | ||
Due Past And Accruing 90 Or More Days [Member] | Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 0 | 0 | ||
Due Past And Accruing 90 Or More Days [Member] | Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 0 | 0 | ||
Due Past And Accruing 90 Or More Days [Member] | Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 0 | 0 | ||
Due Past And Accruing 90 Or More Days [Member] | Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 0 | 0 | ||
Due Past And Accruing 90 Or More Days [Member] | Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 10,920,000 | 18,793,000 | ||
Due Past And Accruing 90 Or More Days [Member] | Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 0 | 0 | ||
Due Past And Accruing 90 Or More Days [Member] | Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 4,879,000 | 4,471,000 | ||
Due Past And Accruing 90 Or More Days [Member] | Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 6,834,000 | 7,688,000 | ||
Due Past And Accruing 90 Or More Days [Member] | Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 72,509,000 | [2] | 88,052,000 | [3] |
Due Past And Accruing 90 Or More Days [Member] | Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 0 | 0 | ||
Due Past And Accruing 90 Or More Days [Member] | Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 846,000 | 837,000 | ||
Due Past And Accruing 90 Or More Days [Member] | Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | $ 0 | $ 0 | ||
[1] | 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. | |||
[2] | Includes $50,640 thousand guaranteed by the U.S. government. | |||
[3] | Includes $55,012 thousand guaranteed by the U.S. government. |
Loans and Leases and Allowanc44
Loans and Leases and Allowance for Credit Losses (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | $ 605,126 | $ 631,918 | $ 605,196 | $ 647,870 | |
Recoveries of loans previously charged-off | 21,595 | 30,184 | 52,238 | 60,209 | |
Loan charge-offs | 46,970 | (58,827) | 102,045 | (131,838) | |
Provision for loan and lease losses | 19,790 | 31,826 | 46,445 | 59,987 | |
Allowance for loans sold or transferred to hoans held for sale | (1) | 0 | 2,292 | (1,127) | |
ALLL balance, end of period | 599,542 | 635,101 | 599,542 | 635,101 | |
AULC balance, beginning of period | 54,742 | 59,368 | 60,806 | 62,899 | |
Provision for unfunded loan commitments and letters of credit | 629 | (2,441) | (5,435) | (5,972) | |
AULC Balance, end of period | 55,371 | 56,927 | 55,371 | 56,927 | |
ACL balance, end of period | 654,913 | 692,028 | 654,913 | 692,028 | |
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 20,002,676 | 20,002,676 | $ 19,033,146 | ||
Total commercial real estate | 5,213,793 | 5,213,793 | 5,197,403 | ||
Automobile | 8,549,081 | 8,549,081 | 8,689,902 | ||
Home equity | 8,526,276 | 8,526,276 | 8,490,915 | ||
Residential mortgage | 5,987,000 | 5,987,000 | 5,830,609 | ||
Other consumer | 473,475 | 473,475 | 413,751 | ||
Automobile loans including automobile loans transferred to loans held for sale | 8,549,081 | 8,549,081 | |||
Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 18,771,741 | 18,771,741 | 17,888,295 | ||
Total commercial real estate | 4,968,700 | 4,968,700 | 4,886,720 | ||
OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 430,786 | 430,786 | 505,044 | ||
Total commercial real estate | 58,109 | 58,109 | 74,234 | ||
Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 794,869 | 794,869 | 630,704 | ||
Total commercial real estate | 181,644 | 181,644 | 226,071 | ||
Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 5,280 | 5,280 | 9,103 | ||
Total commercial real estate | 5,340 | 5,340 | 10,378 | ||
750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 5,136,242 | 5,136,242 | |||
Residential mortgage | 3,529,358 | 3,529,358 | |||
Other consumer | 218,022 | 218,022 | |||
Automobile loans including automobile loans transferred to loans held for sale | 4,172,286 | 4,172,286 | |||
650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 2,480,351 | 2,480,351 | |||
Residential mortgage | 1,796,720 | 1,796,720 | |||
Other consumer | 220,486 | 220,486 | |||
Automobile loans including automobile loans transferred to loans held for sale | 3,177,579 | 3,177,579 | |||
Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 632,296 | 632,296 | |||
Residential mortgage | 604,416 | 604,416 | |||
Other consumer | 33,893 | 33,893 | |||
Automobile loans including automobile loans transferred to loans held for sale | 961,996 | 961,996 | |||
Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 277,387 | 277,387 | |||
Residential mortgage | 56,506 | 56,506 | |||
Other consumer | 1,074 | 1,074 | |||
Automobile loans including automobile loans transferred to loans held for sale | 237,220 | 237,220 | |||
Commercial and industrial owner occupied [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 4,199,859 | 4,199,859 | 4,254,875 | ||
Commercial and industrial owner occupied [Member] | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 3,875,455 | 3,875,455 | 3,959,046 | ||
Commercial and industrial owner occupied [Member] | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 114,939 | 114,939 | 117,637 | ||
Commercial and industrial owner occupied [Member] | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 207,241 | 207,241 | 175,767 | ||
Commercial and industrial owner occupied [Member] | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 2,224 | 2,224 | 2,425 | ||
Commercial and industrial purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 20,122 | 20,122 | 23,228 | ||
Commercial and industrial purchased impaired | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 4,061 | 4,061 | 3,915 | ||
Commercial and industrial purchased impaired | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 500 | 500 | 741 | ||
Commercial and industrial purchased impaired | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 15,360 | 15,360 | 14,901 | ||
Commercial and industrial purchased impaired | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 201 | 201 | 3,671 | ||
Other commercial and industrial [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 15,782,695 | 15,782,695 | 14,755,043 | ||
Other commercial and industrial [Member] | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 14,892,225 | 14,892,225 | 13,925,334 | ||
Other commercial and industrial [Member] | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 315,347 | 315,347 | 386,666 | ||
Other commercial and industrial [Member] | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 572,268 | 572,268 | 440,036 | ||
Other commercial and industrial [Member] | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 2,855 | 2,855 | 3,007 | ||
Commercial and Industrial [Member] | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 284,573 | 266,979 | 286,995 | 265,801 | |
Recoveries of loans previously charged-off | 7,802 | 12,648 | 21,011 | 20,379 | |
Loan charge-offs | 12,213 | (23,245) | 36,825 | (39,582) | |
Provision for loan and lease losses | 4,879 | 22,130 | 13,860 | 31,914 | |
Allowance for loans sold or transferred to hoans held for sale | 0 | 0 | 0 | 0 | |
ALLL balance, end of period | 285,041 | 278,512 | 285,041 | 278,512 | |
AULC balance, beginning of period | 42,315 | 46,316 | 48,988 | 49,596 | |
Provision for unfunded loan commitments and letters of credit | (466) | (1,566) | (7,139) | (4,846) | |
AULC Balance, end of period | 41,849 | 44,750 | 41,849 | 44,750 | |
ACL balance, end of period | 326,890 | 323,262 | 326,890 | 323,262 | |
Commercial real estate retail properties [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,355,518 | 1,355,518 | 1,357,746 | ||
Commercial real estate retail properties [Member] | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,284,017 | 1,284,017 | 1,279,064 | ||
Commercial real estate retail properties [Member] | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 13,750 | 13,750 | 10,204 | ||
Commercial real estate retail properties [Member] | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 58,006 | 58,006 | 67,911 | ||
Commercial real estate retail properties [Member] | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | (255) | (255) | 567 | ||
Commercial real estate Multi family [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,120,584 | 1,120,584 | 1,090,416 | ||
Commercial real estate Multi family [Member] | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,084,707 | 1,084,707 | 1,044,521 | ||
Commercial real estate Multi family [Member] | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 12,041 | 12,041 | 12,608 | ||
Commercial real estate Multi family [Member] | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 23,345 | 23,345 | 32,322 | ||
Commercial real estate Multi family [Member] | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 491 | 491 | 965 | ||
Commercial real estate office [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 930,940 | 930,940 | 980,303 | ||
Commercial real estate office [Member] | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 859,603 | 859,603 | 902,474 | ||
Commercial real estate office [Member] | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 27,135 | 27,135 | 33,107 | ||
Commercial real estate office [Member] | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 42,155 | 42,155 | 42,578 | ||
Commercial real estate office [Member] | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 2,047 | 2,047 | 2,144 | ||
Commercial real estate Industrial and warehouse [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 501,087 | 501,087 | 513,401 | ||
Commercial real estate Industrial and warehouse [Member] | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 488,609 | 488,609 | 487,454 | ||
Commercial real estate Industrial and warehouse [Member] | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 347 | 347 | 7,877 | ||
Commercial real estate Industrial and warehouse [Member] | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 11,768 | 11,768 | 17,781 | ||
Commercial real estate Industrial and warehouse [Member] | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 363 | 363 | 289 | ||
Commercial real estate purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 27,591 | 27,591 | 38,371 | ||
Commercial real estate purchased impaired | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 8,923 | 8,923 | 6,914 | ||
Commercial real estate purchased impaired | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 158 | 158 | 803 | ||
Commercial real estate purchased impaired | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 16,656 | 16,656 | 25,460 | ||
Commercial real estate purchased impaired | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,854 | 1,854 | 5,194 | ||
Other commercial real estate [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,278,073 | 1,278,073 | 1,217,166 | ||
Other commercial real estate [Member] | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,242,841 | 1,242,841 | 1,166,293 | ||
Other commercial real estate [Member] | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 4,678 | 4,678 | 9,635 | ||
Other commercial real estate [Member] | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 29,714 | 29,714 | 40,019 | ||
Other commercial real estate [Member] | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 840 | 840 | 1,219 | ||
Commercial Real Estate [Member] | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 100,752 | 160,306 | 102,839 | 162,557 | |
Recoveries of loans previously charged-off | 2,763 | 5,189 | 8,788 | 16,286 | |
Loan charge-offs | 8,288 | (2,998) | 10,301 | (13,108) | |
Provision for loan and lease losses | (3,167) | (25,151) | (9,266) | (28,389) | |
Allowance for loans sold or transferred to hoans held for sale | 0 | 0 | 0 | 0 | |
ALLL balance, end of period | 92,060 | 137,346 | 92,060 | 137,346 | |
AULC balance, beginning of period | 5,531 | 9,127 | 6,041 | 9,891 | |
Provision for unfunded loan commitments and letters of credit | 247 | (1,597) | (263) | (2,361) | |
AULC Balance, end of period | 5,778 | 7,530 | 5,778 | 7,530 | |
ACL balance, end of period | 97,838 | 144,876 | 97,838 | 144,876 | |
Automobile Loan [Member] | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 37,125 | 25,178 | 33,466 | 31,053 | |
Recoveries of loans previously charged-off | 4,249 | 3,706 | 8,104 | 7,108 | |
Loan charge-offs | 7,691 | (6,632) | 15,794 | (14,676) | |
Provision for loan and lease losses | 5,418 | 4,906 | 15,618 | 3,673 | |
Allowance for loans sold or transferred to hoans held for sale | (1) | 0 | 2,292 | 0 | |
ALLL balance, end of period | 39,102 | 27,158 | 39,102 | 27,158 | |
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 | 39,102 | 27,158 | 39,102 | 27,158 | |
Automobile Loan [Member] | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Automobile loans including automobile loans transferred to loans held for sale | 4,165,811 | ||||
Automobile Loan [Member] | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Automobile loans including automobile loans transferred to loans held for sale | 3,249,141 | ||||
Automobile Loan [Member] | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Automobile loans including automobile loans transferred to loans held for sale | 1,028,381 | ||||
Automobile Loan [Member] | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Automobile loans including automobile loans transferred to loans held for sale | 246,569 | ||||
Automobile Loan [Member] | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Automobile loans including automobile loans transferred to loans held for sale | 8,689,902 | ||||
Home equity secured by first-lien other [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 5,205,057 | 5,205,057 | |||
Home equity secured by first-lien other [Member] | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 3,311,887 | 3,311,887 | 3,255,088 | ||
Home equity secured by first-lien other [Member] | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 1,438,410 | 1,438,410 | 1,426,191 | ||
Home equity secured by first-lien other [Member] | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 282,919 | 282,919 | 283,152 | ||
Home equity secured by first-lien other [Member] | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 171,841 | 171,841 | 164,373 | ||
Home equity secured by first-lien other [Member] | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 5,128,804 | ||||
Home equity secured by junior-lien [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 3,321,219 | 3,321,219 | |||
Home equity secured by junior-lien [Member] | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 1,824,355 | 1,824,355 | 1,832,663 | ||
Home equity secured by junior-lien [Member] | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 1,041,941 | 1,041,941 | 1,095,332 | ||
Home equity secured by junior-lien [Member] | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 349,377 | 349,377 | 348,825 | ||
Home equity secured by junior-lien [Member] | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 105,546 | 105,546 | 85,291 | ||
Home equity secured by junior-lien [Member] | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 3,362,111 | ||||
Home Equity [Member] | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 110,280 | 113,177 | 96,413 | 111,131 | |
Recoveries of loans previously charged-off | 3,979 | 4,710 | 7,940 | 10,082 | |
Loan charge-offs | 8,629 | (13,201) | 17,215 | (34,260) | |
Provision for loan and lease losses | 5,548 | 1,257 | 24,040 | 18,990 | |
Allowance for loans sold or transferred to hoans held for sale | 0 | 0 | 0 | 0 | |
ALLL balance, end of period | 111,178 | 105,943 | 111,178 | 105,943 | |
AULC balance, beginning of period | 2,639 | 1,791 | 1,924 | 1,763 | |
Provision for unfunded loan commitments and letters of credit | (117) | 186 | 598 | 214 | |
AULC Balance, end of period | 2,522 | 1,977 | 2,522 | 1,977 | |
ACL balance, end of period | 113,700 | 107,920 | 113,700 | 107,920 | |
Home Equity [Member] | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 5,087,751 | ||||
Home Equity [Member] | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 2,521,523 | ||||
Home Equity [Member] | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 631,977 | ||||
Home Equity [Member] | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 249,664 | ||||
Home Equity [Member] | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 8,490,915 | ||||
Residential mortgage other | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 5,984,960 | 5,984,960 | |||
Residential mortgage other | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 3,528,722 | 3,528,722 | 3,285,310 | ||
Residential mortgage other | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 1,795,997 | 1,795,997 | 1,785,137 | ||
Residential mortgage other | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 603,735 | 603,735 | 666,562 | ||
Residential mortgage other | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 56,506 | 56,506 | 91,688 | ||
Residential mortgage other | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 5,828,697 | ||||
Residential mortgage purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 2,040 | 2,040 | |||
Residential mortgage purchased impaired | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 636 | 636 | 594 | ||
Residential mortgage purchased impaired | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 723 | 723 | 1,135 | ||
Residential mortgage purchased impaired | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 681 | 681 | 183 | ||
Residential mortgage purchased impaired | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 0 | 0 | 0 | ||
Residential mortgage purchased impaired | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 1,912 | ||||
Residential Mortgage [Member] | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 55,380 | 39,068 | 47,211 | 39,577 | |
Recoveries of loans previously charged-off | 1,468 | 2,656 | 3,515 | 3,783 | |
Loan charge-offs | 3,610 | (6,062) | 8,473 | (15,048) | |
Provision for loan and lease losses | (1,559) | 11,529 | 9,426 | 18,879 | |
Allowance for loans sold or transferred to hoans held for sale | 0 | 0 | 0 | 0 | |
ALLL balance, end of period | 51,679 | 47,191 | 51,679 | 47,191 | |
AULC balance, beginning of period | 9 | 8 | 8 | 9 | |
Provision for unfunded loan commitments and letters of credit | 8 | 0 | 9 | (1) | |
AULC Balance, end of period | 17 | 8 | 17 | 8 | |
ACL balance, end of period | 51,696 | 47,199 | 51,696 | 47,199 | |
Residential Mortgage [Member] | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 3,285,904 | ||||
Residential Mortgage [Member] | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 1,786,272 | ||||
Residential Mortgage [Member] | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 666,745 | ||||
Residential Mortgage [Member] | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 91,688 | ||||
Residential Mortgage [Member] | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 5,830,609 | ||||
Other consumer other | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 473,424 | 473,424 | |||
Other consumer other | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 218,022 | 218,022 | 195,128 | ||
Other consumer other | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 220,435 | 220,435 | 187,781 | ||
Other consumer other | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 33,893 | 33,893 | 30,582 | ||
Other consumer other | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 1,074 | 1,074 | 209 | ||
Other consumer other | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 413,700 | ||||
Other consumer purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 51 | 51 | |||
Other consumer purchased impaired | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 0 | 0 | 0 | ||
Other consumer purchased impaired | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 51 | 51 | 51 | ||
Other consumer purchased impaired | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 0 | 0 | 0 | ||
Other consumer purchased impaired | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 0 | 0 | 0 | ||
Other consumer purchased impaired | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 51 | ||||
Other Consumer loan [Member] | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 17,016 | 27,210 | 38,272 | 37,751 | |
Recoveries of loans previously charged-off | 1,334 | 1,275 | 2,880 | 2,571 | |
Loan charge-offs | 6,539 | (6,689) | 13,437 | (15,164) | |
Provision for loan and lease losses | 8,671 | 17,155 | (7,233) | 14,920 | |
Allowance for loans sold or transferred to hoans held for sale | 0 | 0 | 0 | (1,127) | |
ALLL balance, end of period | 20,482 | 38,951 | 20,482 | 38,951 | |
AULC balance, beginning of period | 4,248 | 2,126 | 3,845 | 1,640 | |
Provision for unfunded loan commitments and letters of credit | 957 | 536 | 1,360 | 1,022 | |
AULC Balance, end of period | 5,205 | 2,662 | 5,205 | 2,662 | |
ACL balance, end of period | $ 25,687 | $ 41,613 | $ 25,687 | $ 41,613 | |
Other Consumer loan [Member] | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 195,128 | ||||
Other Consumer loan [Member] | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 187,832 | ||||
Other Consumer loan [Member] | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 30,582 | ||||
Other Consumer loan [Member] | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 209 | ||||
Other Consumer loan [Member] | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | $ 413,751 |
Loans and Leases and Allowanc45
Loans and Leases and Allowance for Credit Losses (Details 3) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | ||
Commercial and industrial owner occupied [Member] | ||||||
Detailed impaired loan information by class | ||||||
Ending balance of impaired loans with no allowance recorded | $ 44,108,000 | $ 44,108,000 | $ 13,536,000 | |||
Unpaid principal balance of impaired loans with no allowance recorded | 51,709,000 | 51,709,000 | 13,536,000 | |||
Average balance of impaired loans with no allowance recorded | 21,025,000 | $ 3,680,000 | 16,645,000 | $ 4,293,000 | ||
Interest income recognized on impaired loans with no allowance recorded | 72,000 | 35,000 | 147,000 | 84,000 | ||
Ending balance of impaired loans with allowance recorded | 50,530,000 | 50,530,000 | 44,869,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 57,310,000 | 57,310,000 | 53,639,000 | |||
Related Allowance | 3,455,000 | 3,455,000 | 4,220,000 | |||
Average balance of impaired loans with allowance recorded | 59,605,000 | 40,748,000 | 55,448,000 | 39,796,000 | ||
Interest income recognized on impaired loans with allowance recorded | 495,000 | 390,000 | 934,000 | 789,000 | ||
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 | 20,122,000 | 20,122,000 | 23,228,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 29,969,000 | 29,969,000 | 35,307,000 | |||
Related Allowance | 696,000 | 696,000 | 3,846,000 | |||
Average balance of impaired loans with allowance recorded | 20,750,000 | 35,887,000 | 21,576,000 | 35,767,000 | ||
Interest income recognized on impaired loans with allowance recorded | 1,577,000 | 3,282,000 | 2,874,000 | 4,775,000 | ||
Other commercial and industrial [Member] | ||||||
Detailed impaired loan information by class | ||||||
Ending balance of impaired loans with no allowance recorded | 85,281,000 | 85,281,000 | 24,309,000 | |||
Unpaid principal balance of impaired loans with no allowance recorded | 110,447,000 | 110,447,000 | 26,858,000 | |||
Average balance of impaired loans with no allowance recorded | 71,905,000 | 7,558,000 | 56,728,000 | 7,584,000 | ||
Interest income recognized on impaired loans with no allowance recorded | 498,000 | 89,000 | 836,000 | 186,000 | ||
Ending balance of impaired loans with allowance recorded | 222,606,000 | 222,606,000 | 134,279,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 228,512,000 | 228,512,000 | 162,908,000 | |||
Related Allowance | 12,115,000 | 12,115,000 | 6,829,000 | |||
Average balance of impaired loans with allowance recorded | 183,095,000 | 78,200,000 | 61,833,000 | 64,840,000 | ||
Interest income recognized on impaired loans with allowance recorded | 1,339,000 | 688,000 | 1,086,000 | 1,279,000 | ||
Commercial and Industrial [Member] | ||||||
Detailed impaired loan information by class | ||||||
Loans considered impaired due to status as a TDR | 75,749,000 | 75,749,000 | 62,737,000 | |||
Ending balance of impaired loans with no allowance recorded | 129,389,000 | 129,389,000 | 37,845,000 | |||
Unpaid principal balance of impaired loans with no allowance recorded | 162,156,000 | 162,156,000 | 40,394,000 | |||
Average balance of impaired loans with no allowance recorded | 92,930,000 | 11,238,000 | 73,373,000 | 11,877,000 | ||
Interest income recognized on impaired loans with no allowance recorded | 570,000 | 124,000 | 983,000 | 270,000 | ||
Ending balance of impaired loans with allowance recorded | 293,258,000 | 293,258,000 | 202,376,000 | [1] | ||
Unpaid principal balance of impaired loans with allowance recorded | 315,791,000 | 315,791,000 | 251,854,000 | |||
Related Allowance | 16,266,000 | 16,266,000 | 14,895,000 | |||
Average balance of impaired loans with allowance recorded | 263,450,000 | 154,835,000 | 138,857,000 | 140,403,000 | ||
Interest income recognized on impaired loans with allowance recorded | 3,411,000 | 4,360,000 | 4,894,000 | 6,843,000 | ||
Commercial Real Estate Retail Properties [Member] | ||||||
Detailed impaired loan information by class | ||||||
Ending balance of impaired loans with no allowance recorded | 53,513,000 | 53,513,000 | 61,915,000 | |||
Unpaid principal balance of impaired loans with no allowance recorded | 83,484,000 | 83,484,000 | 91,627,000 | |||
Average balance of impaired loans with no allowance recorded | 50,905,000 | 55,039,000 | 54,231,000 | 54,665,000 | ||
Interest income recognized on impaired loans with no allowance recorded | 463,000 | 632,000 | 959,000 | 1,237,000 | ||
Ending balance of impaired loans with allowance recorded | 38,132,000 | 38,132,000 | 37,081,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 39,601,000 | 39,601,000 | 38,397,000 | |||
Related Allowance | 4,651,000 | 4,651,000 | 3,536,000 | |||
Average balance of impaired loans with allowance recorded | 44,213,000 | 64,092,000 | 42,312,000 | 66,349,000 | ||
Interest income recognized on impaired loans with allowance recorded | 418,000 | 487,000 | 780,000 | 1,064,000 | ||
Commercial real estate Multi family [Member] | ||||||
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 | 15,921,000 | 15,921,000 | 17,277,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 17,690,000 | 17,690,000 | 23,725,000 | |||
Related Allowance | 2,444,000 | 2,444,000 | 2,339,000 | |||
Average balance of impaired loans with allowance recorded | 16,200,000 | 17,024,000 | 15,884,000 | 15,827,000 | ||
Interest income recognized on impaired loans with allowance recorded | 184,000 | 164,000 | 354,000 | 315,000 | ||
Commercial real estate office [Member] | ||||||
Detailed impaired loan information by class | ||||||
Ending balance of impaired loans with no allowance recorded | 29,004,000 | 29,004,000 | 1,130,000 | |||
Unpaid principal balance of impaired loans with no allowance recorded | 33,955,000 | 33,955,000 | 3,574,000 | |||
Average balance of impaired loans with no allowance recorded | 11,515,000 | 2,394,000 | 6,597,000 | 4,400,000 | ||
Interest income recognized on impaired loans with no allowance recorded | 86,000 | 40,000 | 117,000 | 229,000 | ||
Ending balance of impaired loans with allowance recorded | 25,617,000 | 25,617,000 | 52,953,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 30,019,000 | 30,019,000 | 56,268,000 | |||
Related Allowance | 2,146,000 | 2,146,000 | 8,399,000 | |||
Average balance of impaired loans with allowance recorded | 40,710,000 | 54,025,000 | 45,644,000 | 52,723,000 | ||
Interest income recognized on impaired loans with allowance recorded | 450,000 | 610,000 | 1,013,000 | 1,146,000 | ||
Commercial real estate Industrial and warehouse [Member] | ||||||
Detailed impaired loan information by class | ||||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | 3,447,000 | |||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | 3,506,000 | |||
Average balance of impaired loans with no allowance recorded | 0 | 5,114,000 | 263,000 | 7,100,000 | ||
Interest income recognized on impaired loans with no allowance recorded | 0 | 68,000 | 7,000 | 176,000 | ||
Ending balance of impaired loans with allowance recorded | 6,098,000 | 6,098,000 | 8,888,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 6,297,000 | 6,297,000 | 10,396,000 | |||
Related Allowance | 507,000 | 507,000 | 720,000 | |||
Average balance of impaired loans with allowance recorded | 5,835,000 | 8,658,000 | 7,079,000 | 8,897,000 | ||
Interest income recognized on impaired loans with allowance recorded | 81,000 | 61,000 | 163,000 | 109,000 | ||
Commercial real estate purchased impaired | ||||||
Detailed impaired loan information by class | ||||||
Ending balance of impaired loans with no allowance recorded | 27,591,000 | 27,591,000 | 38,371,000 | |||
Unpaid principal balance of impaired loans with no allowance recorded | 74,557,000 | 74,557,000 | 91,075,000 | |||
Average balance of impaired loans with no allowance recorded | 31,468,000 | 67,008,000 | 33,769,000 | 72,030,000 | ||
Interest income recognized on impaired loans with no allowance recorded | 2,163,000 | 5,315,000 | 3,941,000 | 7,733,000 | ||
Ending balance of impaired loans with allowance recorded | 0 | 0 | 0 | |||
Unpaid principal balance of impaired loans with allowance recorded | 0 | 0 | 0 | |||
Related Allowance | 0 | 0 | 0 | |||
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 commercial real estate [Member] | ||||||
Detailed impaired loan information by class | ||||||
Ending balance of impaired loans with no allowance recorded | 2,319,000 | 2,319,000 | 6,608,000 | |||
Unpaid principal balance of impaired loans with no allowance recorded | 3,334,000 | 3,334,000 | 6,815,000 | |||
Average balance of impaired loans with no allowance recorded | 1,838,000 | 6,849,000 | 3,096,000 | 6,338,000 | ||
Interest income recognized on impaired loans with no allowance recorded | 16,000 | 79,000 | 62,000 | 136,000 | ||
Ending balance of impaired loans with allowance recorded | 25,989,000 | 25,989,000 | 27,963,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 32,728,000 | 32,728,000 | 33,472,000 | |||
Related Allowance | 3,537,000 | 3,537,000 | 3,893,000 | |||
Average balance of impaired loans with allowance recorded | 29,405,000 | 50,778,000 | 29,254,000 | 47,501,000 | ||
Interest income recognized on impaired loans with allowance recorded | 335,000 | 541,000 | 689,000 | 1,015,000 | ||
Commercial Real Estate [Member] | ||||||
Detailed impaired loan information by class | ||||||
Loans considered impaired due to status as a TDR | 28,457,000 | 28,457,000 | 27,423,000 | |||
Ending balance of impaired loans with no allowance recorded | 112,427,000 | 112,427,000 | 111,471,000 | |||
Unpaid principal balance of impaired loans with no allowance recorded | 195,330,000 | 195,330,000 | 196,597,000 | |||
Average balance of impaired loans with no allowance recorded | 95,726,000 | 136,404,000 | 97,956,000 | 144,533,000 | ||
Interest income recognized on impaired loans with no allowance recorded | 2,728,000 | 6,134,000 | 5,086,000 | 9,511,000 | ||
Ending balance of impaired loans with allowance recorded | 111,757,000 | 111,757,000 | 144,162,000 | [2] | ||
Unpaid principal balance of impaired loans with allowance recorded | 126,335,000 | 126,335,000 | 162,258,000 | |||
Related Allowance | 13,285,000 | 13,285,000 | 18,887,000 | |||
Average balance of impaired loans with allowance recorded | 136,363,000 | 194,577,000 | 140,173,000 | 191,297,000 | ||
Interest income recognized on impaired loans with allowance recorded | 1,468,000 | 1,863,000 | 2,999,000 | 3,649,000 | ||
Automobile Loan [Member] | ||||||
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 | 28,805,000 | 28,805,000 | 30,612,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 29,026,000 | 29,026,000 | 32,483,000 | |||
Related Allowance | 1,471,000 | 1,471,000 | 1,531,000 | |||
Average balance of impaired loans with allowance recorded | 29,482,000 | 34,594,000 | 29,859,000 | 35,424,000 | ||
Interest income recognized on impaired loans with allowance recorded | 544,000 | 719,000 | 1,105,000 | 1,402,000 | ||
Home equity secured by first-lien other [Member] | ||||||
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 | 150,259,000 | 150,259,000 | 145,566,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 155,467,000 | 155,467,000 | 157,978,000 | |||
Related Allowance | 8,818,000 | 8,818,000 | 8,296,000 | |||
Average balance of impaired loans with allowance recorded | 148,892,000 | 122,449,000 | 147,783,000 | 118,307,000 | ||
Interest income recognized on impaired loans with allowance recorded | 1,715,000 | 1,371,000 | 3,299,000 | 2,610,000 | ||
Home equity secured by junior-lien [Member] | ||||||
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 | 186,226,000 | 186,226,000 | 164,880,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 219,608,000 | 219,608,000 | 208,118,000 | |||
Related Allowance | 17,115,000 | 17,115,000 | 17,731,000 | |||
Average balance of impaired loans with allowance recorded | 181,059,000 | 123,839,000 | 175,666,000 | 115,545,000 | ||
Interest income recognized on impaired loans with allowance recorded | 2,231,000 | 1,547,000 | 4,216,000 | 2,861,000 | ||
Home Equity [Member] | ||||||
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 | 336,485,000 | 336,485,000 | 310,446,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 375,075,000 | 375,075,000 | 366,096,000 | |||
Related Allowance | 25,933,000 | 25,933,000 | 26,027,000 | |||
Average balance of impaired loans with allowance recorded | 329,951,000 | 246,288,000 | 323,449,000 | 233,852,000 | ||
Interest income recognized on impaired loans with allowance recorded | 3,946,000 | 2,918,000 | 7,515,000 | 5,471,000 | ||
Residential mortgage 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 | 364,782,000 | 364,782,000 | 369,577,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 407,126,000 | 407,126,000 | 415,280,000 | |||
Related Allowance | 10,066,000 | 10,066,000 | 16,535,000 | |||
Average balance of impaired loans with allowance recorded | 369,245,000 | 387,019,000 | 369,356,000 | 387,325,000 | ||
Interest income recognized on impaired loans with allowance recorded | 2,978,000 | 2,984,000 | 6,100,000 | 5,848,000 | ||
Residential mortgage 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 | 2,040,000 | 2,040,000 | 1,912,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 3,017,000 | 3,017,000 | 3,096,000 | |||
Related Allowance | 258,000 | 258,000 | 8,000 | |||
Average balance of impaired loans with allowance recorded | 2,104,000 | 2,308,000 | 2,040,000 | 2,371,000 | ||
Interest income recognized on impaired loans with allowance recorded | 4,000 | 219,000 | 7,000 | 318,000 | ||
Residential Mortgage [Member] | ||||||
Detailed impaired loan information by class | ||||||
Amount of TDRs guaranteed by the U.S. government | 30,374,000 | 30,374,000 | 24,470,000 | |||
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 | 366,822,000 | 366,822,000 | 371,489,000 | [3] | ||
Unpaid principal balance of impaired loans with allowance recorded | 410,143,000 | 410,143,000 | 418,376,000 | |||
Related Allowance | 10,324,000 | 10,324,000 | 16,543,000 | |||
Average balance of impaired loans with allowance recorded | 371,349,000 | 389,327,000 | 371,396,000 | 389,696,000 | ||
Interest income recognized on impaired loans with allowance recorded | 2,982,000 | 3,203,000 | 6,107,000 | 6,166,000 | ||
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 | 4,881,000 | 4,881,000 | 4,088,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 4,881,000 | 4,881,000 | 4,209,000 | |||
Related Allowance | 122,000 | 122,000 | 214,000 | |||
Average balance of impaired loans with allowance recorded | 4,963,000 | 2,731,000 | 4,671,000 | 2,168,000 | ||
Interest income recognized on impaired loans with allowance recorded | 65,000 | 60,000 | 128,000 | 93,000 | ||
Other consumer 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 | 51,000 | 51,000 | 51,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 114,000 | 114,000 | 123,000 | |||
Related Allowance | 7,000 | 7,000 | 245,000 | |||
Average balance of impaired loans with allowance recorded | 51,000 | 90,000 | 51,000 | 103,000 | ||
Interest income recognized on impaired loans with allowance recorded | 160,000 | 5,000 | 291,000 | 7,000 | ||
Other Consumer loan [Member] | ||||||
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 | 4,932,000 | 4,932,000 | 4,139,000 | |||
Unpaid principal balance of impaired loans with allowance recorded | 4,995,000 | 4,995,000 | 4,332,000 | |||
Related Allowance | 129,000 | 129,000 | $ 459,000 | |||
Average balance of impaired loans with allowance recorded | 5,014,000 | 2,821,000 | 4,722,000 | 2,271,000 | ||
Interest income recognized on impaired loans with allowance recorded | $ 225,000 | $ 65,000 | $ 419,000 | $ 100,000 | ||
[1] | At June 30, 2015, $75,749 thousand of the $293,258 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. | |||||
[2] | At June 30, 2015, $28,457 thousand of the $111,757 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. | |||||
[3] | At June 30, 2015, $30,974 thousand of the $366,822 thousand residential mortgages loans with an allowance recorded were guaranteed by the U.S. government. At December 31, 2014, $24,470 thousand of the $371,489 thousand residential mortgage loans with an allowance recorded were guaranteed by the U.S. government. |
Loans and Leases And Allowanc46
Loans and Leases And Allowance For Credit Losses (Details 4) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Portion of ALLL ending balance | ||||||
Attributable to loans purchased with deteriorated credit quality | $ 961 | $ 4,099 | ||||
Attributable to loans individually evaluated for impairment | 66,447 | 74,243 | ||||
Attributable to loans collectively evaluated for impairment | 532,134 | 526,854 | ||||
Total ALLL balance, end of period | 599,542 | $ 605,126 | 605,196 | $ 635,101 | $ 631,918 | $ 647,870 |
Portion of loans and leases ending balance | ||||||
Purchased with deteriorated credit quality | 49,804 | 63,562 | ||||
Individually evaluated for impairment | 1,334,071 | 1,148,978 | ||||
Collectively evaluated for impairment | 47,368,426 | 46,443,186 | ||||
Total loans evaluated for impairment | 48,752,301 | 47,655,726 | ||||
Commercial and Industrial [Member] | ||||||
Portion of ALLL ending balance | ||||||
Attributable to loans purchased with deteriorated credit quality | 696 | 3,846 | ||||
Attributable to loans individually evaluated for impairment | 15,570 | 11,049 | ||||
Attributable to loans collectively evaluated for impairment | 268,775 | 272,100 | ||||
Total ALLL balance, end of period | 285,041 | 284,573 | 286,995 | 278,512 | 266,979 | 265,801 |
Portion of loans and leases ending balance | ||||||
Purchased with deteriorated credit quality | 20,122 | 23,228 | ||||
Individually evaluated for impairment | 402,525 | 216,993 | ||||
Collectively evaluated for impairment | 19,580,029 | 18,792,925 | ||||
Total loans evaluated for impairment | 20,002,676 | 19,033,146 | ||||
Commercial Real Estate [Member] | ||||||
Portion of ALLL ending balance | ||||||
Attributable to loans purchased with deteriorated credit quality | 0 | 0 | ||||
Attributable to loans individually evaluated for impairment | 13,285 | 18,887 | ||||
Attributable to loans collectively evaluated for impairment | 78,775 | 83,952 | ||||
Total ALLL balance, end of period | 92,060 | 100,752 | 102,839 | 137,346 | 160,306 | 162,557 |
Portion of loans and leases ending balance | ||||||
Purchased with deteriorated credit quality | 27,591 | 38,371 | ||||
Individually evaluated for impairment | 196,593 | 217,262 | ||||
Collectively evaluated for impairment | 4,989,609 | 4,941,770 | ||||
Total loans evaluated for impairment | 5,213,793 | 5,197,403 | ||||
Automobile Loan [Member] | ||||||
Portion of ALLL ending balance | ||||||
Attributable to loans purchased with deteriorated credit quality | 0 | 0 | ||||
Attributable to loans individually evaluated for impairment | 1,471 | 1,531 | ||||
Attributable to loans collectively evaluated for impairment | 37,631 | 31,935 | ||||
Total ALLL balance, end of period | 39,102 | 37,125 | 33,466 | 27,158 | 25,178 | 31,053 |
Portion of loans and leases ending balance | ||||||
Purchased with deteriorated credit quality | 0 | 0 | ||||
Individually evaluated for impairment | 28,805 | 30,612 | ||||
Collectively evaluated for impairment | 8,520,276 | 8,659,290 | ||||
Total loans evaluated for impairment | 8,549,081 | 8,689,902 | ||||
Home Equity [Member] | ||||||
Portion of ALLL ending balance | ||||||
Attributable to loans purchased with deteriorated credit quality | 0 | 0 | ||||
Attributable to loans individually evaluated for impairment | 25,933 | 26,027 | ||||
Attributable to loans collectively evaluated for impairment | 85,245 | 70,386 | ||||
Total ALLL balance, end of period | 111,178 | 110,280 | 96,413 | 105,943 | 113,177 | 111,131 |
Portion of loans and leases ending balance | ||||||
Purchased with deteriorated credit quality | 0 | 0 | ||||
Individually evaluated for impairment | 336,485 | 310,446 | ||||
Collectively evaluated for impairment | 8,189,791 | 8,180,469 | ||||
Total loans evaluated for impairment | 8,526,276 | 8,490,915 | ||||
Residential Mortgage [Member] | ||||||
Portion of ALLL ending balance | ||||||
Attributable to loans purchased with deteriorated credit quality | 258 | 8 | ||||
Attributable to loans individually evaluated for impairment | 10,066 | 16,535 | ||||
Attributable to loans collectively evaluated for impairment | 41,355 | 30,668 | ||||
Total ALLL balance, end of period | 51,679 | 55,380 | 47,211 | 47,191 | 39,068 | 39,577 |
Portion of loans and leases ending balance | ||||||
Purchased with deteriorated credit quality | 2,040 | 1,912 | ||||
Individually evaluated for impairment | 364,782 | 369,577 | ||||
Collectively evaluated for impairment | 5,620,178 | 5,459,120 | ||||
Total loans evaluated for impairment | 5,987,000 | 5,830,609 | ||||
Other Consumer loan [Member] | ||||||
Portion of ALLL ending balance | ||||||
Attributable to loans purchased with deteriorated credit quality | 7 | 245 | ||||
Attributable to loans individually evaluated for impairment | 122 | 214 | ||||
Attributable to loans collectively evaluated for impairment | 20,353 | 37,813 | ||||
Total ALLL balance, end of period | 20,482 | $ 17,016 | 38,272 | $ 38,951 | $ 27,210 | $ 37,751 |
Portion of loans and leases ending balance | ||||||
Purchased with deteriorated credit quality | 51 | 51 | ||||
Individually evaluated for impairment | 4,881 | 4,088 | ||||
Collectively evaluated for impairment | 468,543 | 409,612 | ||||
Total loans evaluated for impairment | $ 473,475 | $ 413,751 |
Loans and Leases and Allowanc47
Loans and Leases and Allowance For Credit Losses (Textuals) (Details) $ in Thousands | 3 Months Ended | |
Jun. 30, 2015USD ($)D | Dec. 31, 2014USD ($) | |
Loans and Leases (Textuals) | ||
Amount of security for borrowing and advances | $ | $ 17,200,000 | |
All loans with an outstanding balance which evaluated on quarterly basis for impairment | $ | 1,000 | |
Amount guaranteed by U.S. Government | $ | $ 50,640 | $ 55,012 |
Redefault status number of days | 90 | |
Aggregate amount of net unamortized deferred loan origination fees and net unearned income | $ | $ 300,500 | $ 178,700 |
Home equity secured by first-lien other [Member] | ||
Loans and Leases (Textuals) | ||
Nonaccrual status number of days past due | 150 | |
Loans charged off or written down past due | 150 | |
Home equity secured by junior-lien [Member] | ||
Loans and Leases (Textuals) | ||
Nonaccrual status number of days past due | 120 | |
Loans charged off or written down past due | 120 | |
Residential Mortgage [Member] | ||
Loans and Leases (Textuals) | ||
Nonaccrual status number of days past due | 150 | |
Loans charged off or written down past due | 150 | |
Commercial and Industrial and Commercial Real Estate [Member] | ||
Loans and Leases (Textuals) | ||
Nonaccrual status number of days past due | 90 | |
Loans charged off or written down past due | 90 | |
Automobile and other consumer loans [Member] | ||
Loans and Leases (Textuals) | ||
Loans charged off or written down past due | 120 |
Loans and Leases and Allowanc48
Loans and Leases and Allowance For Credit Losses (TDR 1) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015USD ($)contracts | Jun. 30, 2014USD ($)contracts | Jun. 30, 2015USD ($)contracts | Jun. 30, 2014USD ($)contracts | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 5 | 42 | ||
Post-Modification Outstanding Balance | $ 72 | $ 1,533 | ||
Financial effects of modification | $ 10 | $ (72) | ||
Number of redefaulted contracts, actual | contracts | 62 | 86 | 146 | 200 |
Ending balance of redefaulted TDRs | $ 4,802 | $ 5,471 | $ 18,225 | $ 13,689 |
Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 0 | 0 | ||
Post-Modification Outstanding Balance | $ 0 | $ 0 | ||
Financial effects of modification | $ 0 | $ 0 | ||
Amortization Or Maturity Date Change [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 2 | 26 | ||
Post-Modification Outstanding Balance | $ 33 | $ 1,115 | ||
Financial effects of modification | $ 2 | $ (22) | ||
Chapter 7 Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 3 | 16 | ||
Post-Modification Outstanding Balance | $ 39 | $ 418 | ||
Financial effects of modification | $ 8 | $ (50) | ||
Other Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 0 | 0 | ||
Post-Modification Outstanding Balance | $ 0 | $ 0 | ||
Financial effects of modification | $ 0 | $ 0 | ||
Commercial and industrial owner occupied [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 57 | 30 | 107 | 56 |
Post-Modification Outstanding Balance | $ 36,695 | $ 5,561 | $ 47,814 | $ 11,934 |
Financial effects of modification | $ (1,929) | $ (79) | $ (2,133) | $ (76) |
Number of redefaulted contracts, actual | contracts | 2 | 2 | 3 | 3 |
Ending balance of redefaulted TDRs | $ 423 | $ 400 | $ 572 | $ 630 |
Commercial and industrial owner occupied [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 2 | 9 | 3 | 15 |
Post-Modification Outstanding Balance | $ 189 | $ 857 | $ 235 | $ 1,781 |
Financial effects of modification | $ (1) | $ 21 | $ (2) | $ 21 |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial and industrial owner occupied [Member] | Amortization Or Maturity Date Change [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 55 | 19 | 101 | 37 |
Post-Modification Outstanding Balance | $ 36,506 | $ 3,728 | $ 46,966 | $ 8,337 |
Financial effects of modification | $ (1,928) | $ (66) | $ (2,102) | $ (62) |
Number of redefaulted contracts, actual | contracts | 2 | 2 | 3 | 2 |
Ending balance of redefaulted TDRs | $ 423 | $ 400 | $ 572 | $ 400 |
Commercial and industrial owner occupied [Member] | Other Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 0 | 2 | 3 | 4 |
Post-Modification Outstanding Balance | $ 0 | $ 976 | $ 613 | $ 1,816 |
Financial effects of modification | $ 0 | $ (34) | $ (29) | $ (35) |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 1 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 230 |
Other commercial and industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 158 | 70 | 281 | 138 |
Post-Modification Outstanding Balance | $ 156,378 | $ 40,571 | $ 265,173 | $ 105,531 |
Financial effects of modification | $ (8,405) | $ (2,445) | $ (8,022) | $ (1,631) |
Number of redefaulted contracts, actual | contracts | 9 | 3 | 11 | 7 |
Ending balance of redefaulted TDRs | $ 1,599 | $ 720 | $ 1,713 | $ 1,044 |
Other commercial and industrial [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 4 | 9 | 5 | 19 |
Post-Modification Outstanding Balance | $ 405 | $ 17,487 | $ 435 | $ 45,481 |
Financial effects of modification | $ 10 | $ (1,774) | $ 9 | $ (1,921) |
Number of redefaulted contracts, actual | contracts | 1 | 0 | 1 | 0 |
Ending balance of redefaulted TDRs | $ 27 | $ 0 | $ 27 | $ 0 |
Other commercial and industrial [Member] | Amortization Or Maturity Date Change [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 153 | 55 | 270 | 109 |
Post-Modification Outstanding Balance | $ 155,849 | $ 20,780 | $ 236,226 | $ 53,380 |
Financial effects of modification | $ (8,415) | $ (579) | $ (7,601) | $ 358 |
Number of redefaulted contracts, actual | contracts | 8 | 3 | 10 | 7 |
Ending balance of redefaulted TDRs | $ 1,572 | $ 720 | $ 1,686 | $ 1,044 |
Other commercial and industrial [Member] | Other Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 1 | 6 | 6 | 10 |
Post-Modification Outstanding Balance | $ 124 | $ 2,304 | $ 28,512 | $ 6,670 |
Financial effects of modification | $ 0 | $ (92) | $ (430) | $ (68) |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial real estate retail properties [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 1 | 8 | 13 | 22 |
Post-Modification Outstanding Balance | $ 6,396 | $ 13,779 | $ 12,630 | $ 47,019 |
Financial effects of modification | $ (1,334) | $ (177) | $ (1,544) | $ 205 |
Number of redefaulted contracts, actual | contracts | 1 | 0 | 2 | 0 |
Ending balance of redefaulted TDRs | $ 47 | $ 0 | $ 6,529 | $ 0 |
Commercial real estate retail properties [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 0 | 0 | 1 | 3 |
Post-Modification Outstanding Balance | $ 0 | $ 0 | $ 1,657 | $ 11,105 |
Financial effects of modification | $ 0 | $ 0 | $ (11) | $ 421 |
Number of redefaulted contracts, actual | contracts | 1 | 0 | 1 | 0 |
Ending balance of redefaulted TDRs | $ 47 | $ 0 | $ 47 | $ 0 |
Commercial real estate retail properties [Member] | Amortization Or Maturity Date Change [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 1 | 5 | 12 | 10 |
Post-Modification Outstanding Balance | $ 6,396 | $ 9,911 | $ 10,973 | $ 22,149 |
Financial effects of modification | $ (1,334) | $ (233) | $ (1,533) | $ (181) |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 1 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 6,482 | $ 0 |
Commercial real estate retail properties [Member] | Other Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 0 | 3 | 0 | 9 |
Post-Modification Outstanding Balance | $ 0 | $ 3,868 | $ 0 | $ 13,765 |
Financial effects of modification | $ 0 | $ 56 | $ 0 | $ (35) |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial real estate Multi family [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 20 | 10 | 39 | 26 |
Post-Modification Outstanding Balance | $ 5,497 | $ 4,248 | $ 10,542 | $ 5,419 |
Financial effects of modification | $ (34) | $ 60 | $ (35) | $ 60 |
Number of redefaulted contracts, actual | contracts | 5 | 1 | 8 | 1 |
Ending balance of redefaulted TDRs | $ 142 | $ 212 | $ 911 | $ 212 |
Commercial real estate Multi family [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 1 | 1 | 1 | 11 |
Post-Modification Outstanding Balance | $ 90 | $ 95 | $ 90 | $ 740 |
Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial real estate Multi family [Member] | Amortization Or Maturity Date Change [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 11 | 7 | 30 | 11 |
Post-Modification Outstanding Balance | $ 5,191 | $ 177 | $ 10,236 | $ 380 |
Financial effects of modification | $ (28) | $ (2) | $ (29) | $ (2) |
Number of redefaulted contracts, actual | contracts | 5 | 1 | 8 | 1 |
Ending balance of redefaulted TDRs | $ 142 | $ 212 | $ 911 | $ 212 |
Commercial real estate Multi family [Member] | Other Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 8 | 2 | 8 | 4 |
Post-Modification Outstanding Balance | $ 216 | $ 3,976 | $ 216 | $ 4,299 |
Financial effects of modification | $ (6) | $ 62 | $ (6) | $ 62 |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial real estate office [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 8 | 9 | 13 | 16 |
Post-Modification Outstanding Balance | $ 5,018 | $ 20,211 | $ 31,103 | $ 34,247 |
Financial effects of modification | $ 101 | $ (3,842) | $ 70 | $ (3,843) |
Number of redefaulted contracts, actual | contracts | 1 | 1 | 2 | 1 |
Ending balance of redefaulted TDRs | $ 392 | $ 493 | $ 1,388 | $ 493 |
Commercial real estate office [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 0 | 0 | 0 | 2 |
Post-Modification Outstanding Balance | $ 0 | $ 0 | $ 0 | $ 120 |
Financial effects of modification | $ 0 | $ 0 | $ 0 | $ (1) |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial real estate office [Member] | Amortization Or Maturity Date Change [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 7 | 6 | 12 | 10 |
Post-Modification Outstanding Balance | $ 4,988 | $ 6,084 | $ 31,073 | $ 9,216 |
Financial effects of modification | $ 103 | $ (360) | $ 72 | $ (360) |
Number of redefaulted contracts, actual | contracts | 1 | 1 | 2 | 1 |
Ending balance of redefaulted TDRs | $ 392 | $ 493 | $ 1,388 | $ 493 |
Commercial real estate office [Member] | Other Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 1 | 3 | 1 | 4 |
Post-Modification Outstanding Balance | $ 30 | $ 14,127 | $ 30 | $ 24,911 |
Financial effects of modification | $ (2) | $ (3,482) | $ (2) | $ (3,482) |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial real estate Industrial and warehouse [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 4 | 2 | 5 | 8 |
Post-Modification Outstanding Balance | $ 2,160 | $ 2,384 | $ 2,386 | $ 8,580 |
Financial effects of modification | $ 91 | $ 216 | $ 91 | $ 212 |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial real estate Industrial and warehouse [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 0 | 0 | 0 | 2 |
Post-Modification Outstanding Balance | $ 0 | $ 0 | $ 0 | $ 4,046 |
Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial real estate Industrial and warehouse [Member] | Amortization Or Maturity Date Change [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 4 | 2 | 5 | 5 |
Post-Modification Outstanding Balance | $ 2,160 | $ 2,384 | $ 2,386 | $ 3,557 |
Financial effects of modification | $ 91 | $ 216 | $ 91 | $ 212 |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial real estate Industrial and warehouse [Member] | Other Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 0 | 0 | 0 | 1 |
Post-Modification Outstanding Balance | $ 0 | $ 0 | $ 0 | $ 977 |
Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Other commercial real estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 11 | 24 | 19 | 51 |
Post-Modification Outstanding Balance | $ 4,154 | $ 27,184 | $ 7,965 | $ 78,952 |
Financial effects of modification | $ (6) | $ (2,856) | $ 5 | $ (2,725) |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 1 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 561 |
Other commercial real estate [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 0 | 1 | 0 | 5 |
Post-Modification Outstanding Balance | $ 0 | $ 715 | $ 0 | $ 5,019 |
Financial effects of modification | $ 0 | $ 44 | $ 0 | $ 51 |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Other commercial real estate [Member] | Amortization Or Maturity Date Change [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 10 | 23 | 17 | 44 |
Post-Modification Outstanding Balance | $ 4,072 | $ 26,469 | $ 7,731 | $ 73,005 |
Financial effects of modification | $ 16 | $ (2,900) | $ 27 | $ (2,775) |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 1 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 561 |
Other commercial real estate [Member] | Other Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 1 | 0 | 2 | 2 |
Post-Modification Outstanding Balance | $ 82 | $ 0 | $ 234 | $ 928 |
Financial effects of modification | $ (22) | $ 0 | $ (22) | $ (1) |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Automobile Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 474 | 1,148 | 1,127 | 1,535 |
Post-Modification Outstanding Balance | $ 3,293 | $ 7,314 | $ 7,887 | $ 10,026 |
Financial effects of modification | $ 158 | $ 28 | $ 417 | $ (6) |
Number of redefaulted contracts, actual | contracts | 14 | 31 | 27 | 63 |
Ending balance of redefaulted TDRs | $ 166 | $ 239 | $ 326 | $ 413 |
Automobile Loan [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 12 | 47 | 25 | 48 |
Post-Modification Outstanding Balance | $ 23 | $ 426 | $ 42 | $ 428 |
Financial effects of modification | $ 1 | $ 8 | $ 2 | $ 8 |
Number of redefaulted contracts, actual | contracts | 1 | 0 | 1 | 0 |
Ending balance of redefaulted TDRs | $ 4 | $ 0 | $ 4 | $ 0 |
Automobile Loan [Member] | Amortization Or Maturity Date Change [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 316 | 963 | 812 | 1,169 |
Post-Modification Outstanding Balance | $ 2,132 | $ 5,878 | $ 5,484 | $ 7,227 |
Financial effects of modification | $ 96 | $ 35 | $ 254 | $ 27 |
Number of redefaulted contracts, actual | contracts | 6 | 7 | 12 | 26 |
Ending balance of redefaulted TDRs | $ 89 | $ 78 | $ 199 | $ 182 |
Automobile Loan [Member] | Chapter 7 Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 146 | 138 | 290 | 318 |
Post-Modification Outstanding Balance | $ 1,138 | $ 1,010 | $ 2,361 | $ 2,371 |
Financial effects of modification | $ 61 | $ (15) | $ 161 | $ (41) |
Number of redefaulted contracts, actual | contracts | 7 | 24 | 14 | 37 |
Ending balance of redefaulted TDRs | $ 73 | $ 161 | $ 123 | $ 231 |
Automobile Loan [Member] | Other Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 0 | 0 | 0 | 0 |
Post-Modification Outstanding Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Residential Mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 109 | 190 | 277 | 352 |
Post-Modification Outstanding Balance | $ 12,561 | $ 28,407 | $ 31,779 | $ 46,325 |
Financial effects of modification | $ (133) | $ 508 | $ (382) | $ 911 |
Number of redefaulted contracts, actual | contracts | 12 | 24 | 31 | 70 |
Ending balance of redefaulted TDRs | $ 964 | $ 2,249 | $ 3,051 | $ 7,349 |
Residential Mortgage [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 4 | 7 | 9 | 15 |
Post-Modification Outstanding Balance | $ 261 | $ 1,445 | $ 737 | $ 2,233 |
Financial effects of modification | $ (52) | $ (42) | $ (56) | $ (24) |
Number of redefaulted contracts, actual | contracts | 0 | 1 | 1 | 3 |
Ending balance of redefaulted TDRs | $ 0 | $ 220 | $ 61 | $ 350 |
Residential Mortgage [Member] | Amortization Or Maturity Date Change [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 70 | 149 | 193 | 217 |
Post-Modification Outstanding Balance | $ 9,416 | $ 23,284 | $ 23,274 | $ 31,302 |
Financial effects of modification | $ (74) | $ 452 | $ (195) | $ 555 |
Number of redefaulted contracts, actual | contracts | 10 | 15 | 26 | 44 |
Ending balance of redefaulted TDRs | $ 825 | $ 1,596 | $ 2,601 | $ 5,054 |
Residential Mortgage [Member] | Chapter 7 Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 35 | 32 | 69 | 117 |
Post-Modification Outstanding Balance | $ 2,884 | $ 3,484 | $ 7,060 | $ 12,491 |
Financial effects of modification | $ (7) | $ 93 | $ (131) | $ 375 |
Number of redefaulted contracts, actual | contracts | 2 | 8 | 4 | 23 |
Ending balance of redefaulted TDRs | $ 139 | $ 433 | $ 389 | $ 1,945 |
Residential Mortgage [Member] | Other Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 0 | 2 | 6 | 3 |
Post-Modification Outstanding Balance | $ 0 | $ 194 | $ 708 | $ 299 |
Financial effects of modification | $ 0 | $ 5 | $ 0 | $ 5 |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Home equity secured by first-lien other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 98 | 162 | 183 | 273 |
Post-Modification Outstanding Balance | $ 8,862 | $ 13,764 | $ 15,477 | $ 21,552 |
Financial effects of modification | $ (229) | $ 605 | $ (426) | $ 373 |
Number of redefaulted contracts, actual | contracts | 6 | 10 | 28 | 18 |
Ending balance of redefaulted TDRs | $ 383 | $ 764 | $ 2,339 | $ 1,693 |
Home equity secured by first-lien other [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 11 | 45 | 21 | 95 |
Post-Modification Outstanding Balance | $ 1,160 | $ 4,158 | $ 2,579 | $ 7,966 |
Financial effects of modification | $ 42 | $ 413 | $ 68 | $ 604 |
Number of redefaulted contracts, actual | contracts | 0 | 1 | 1 | 2 |
Ending balance of redefaulted TDRs | $ 0 | $ 50 | $ 155 | $ 163 |
Home equity secured by first-lien other [Member] | Amortization Or Maturity Date Change [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 65 | 95 | 114 | 135 |
Post-Modification Outstanding Balance | $ 6,432 | $ 8,574 | $ 10,043 | $ 11,164 |
Financial effects of modification | $ (325) | $ 95 | $ (628) | $ (331) |
Number of redefaulted contracts, actual | contracts | 2 | 4 | 4 | 8 |
Ending balance of redefaulted TDRs | $ 180 | $ 315 | $ 258 | $ 930 |
Home equity secured by first-lien other [Member] | Chapter 7 Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 22 | 22 | 48 | 43 |
Post-Modification Outstanding Balance | $ 1,270 | $ 1,032 | $ 2,855 | $ 2,422 |
Financial effects of modification | $ 54 | $ 97 | $ 134 | $ 100 |
Number of redefaulted contracts, actual | contracts | 4 | 5 | 23 | 8 |
Ending balance of redefaulted TDRs | $ 203 | $ 399 | $ 1,926 | $ 600 |
Home equity secured by first-lien other [Member] | Other Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 0 | 0 | 0 | 0 |
Post-Modification Outstanding Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Home equity secured by junior-lien [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 480 | 517 | 882 | 904 |
Post-Modification Outstanding Balance | $ 18,825 | $ 19,068 | $ 36,358 | $ 32,520 |
Financial effects of modification | $ (1,251) | $ (618) | $ 1,715 | $ (1,984) |
Number of redefaulted contracts, actual | contracts | 12 | 14 | 34 | 36 |
Ending balance of redefaulted TDRs | $ 686 | $ 394 | $ 1,396 | $ 1,294 |
Home equity secured by junior-lien [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 4 | 81 | 8 | 168 |
Post-Modification Outstanding Balance | $ 98 | $ 2,955 | $ 349 | $ 5,822 |
Financial effects of modification | $ 6 | $ 220 | $ 21 | $ 170 |
Number of redefaulted contracts, actual | contracts | 1 | 0 | 2 | 0 |
Ending balance of redefaulted TDRs | $ 160 | $ 0 | $ 197 | $ 0 |
Home equity secured by junior-lien [Member] | Amortization Or Maturity Date Change [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 419 | 392 | 766 | 633 |
Post-Modification Outstanding Balance | $ 18,077 | $ 15,425 | $ 34,584 | $ 25,085 |
Financial effects of modification | $ (2,615) | $ (1,740) | $ (551) | $ (3,592) |
Number of redefaulted contracts, actual | contracts | 8 | 8 | 20 | 14 |
Ending balance of redefaulted TDRs | $ 339 | $ 368 | $ 798 | $ 698 |
Home equity secured by junior-lien [Member] | Chapter 7 Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 57 | 44 | 108 | 103 |
Post-Modification Outstanding Balance | $ 650 | $ 688 | $ 1,425 | $ 1,613 |
Financial effects of modification | $ 1,358 | $ 902 | $ 2,245 | $ 1,438 |
Number of redefaulted contracts, actual | contracts | 3 | 6 | 12 | 22 |
Ending balance of redefaulted TDRs | $ 187 | $ 26 | $ 401 | $ 596 |
Home equity secured by junior-lien [Member] | Other Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 0 | 0 | 0 | 0 |
Post-Modification Outstanding Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Other Consumer loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 11 | 49 | ||
Post-Modification Outstanding Balance | $ 173 | $ 1,576 | ||
Financial effects of modification | $ 15 | $ (73) | ||
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Other Consumer loan [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 0 | 0 | ||
Post-Modification Outstanding Balance | $ 0 | $ 0 | ||
Financial effects of modification | $ 0 | $ 0 | ||
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Other Consumer loan [Member] | Amortization Or Maturity Date Change [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 6 | 30 | ||
Post-Modification Outstanding Balance | $ 128 | $ 1,135 | ||
Financial effects of modification | $ 6 | $ (22) | ||
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Other Consumer loan [Member] | Chapter 7 Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 5 | 19 | ||
Post-Modification Outstanding Balance | $ 45 | $ 441 | ||
Financial effects of modification | $ 9 | $ (51) | ||
Number of redefaulted contracts, actual | contracts | 0 | 0 | 0 | 0 |
Ending balance of redefaulted TDRs | $ 0 | $ 0 | $ 0 | $ 0 |
Other Consumer loan [Member] | Other Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts, actual | contracts | 0 | 0 | ||
Post-Modification Outstanding Balance | $ 0 | $ 0 | ||
Financial effects of modification | $ 0 | $ 0 | ||
Number of redefaulted contracts, actual | contracts | 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 | contracts | 1,425 | 2,212 | 2,957 | 3,430 |
Post-Modification Outstanding Balance | $ 259,911 | $ 184,024 | $ 469,287 | $ 403,681 |
Financial effects of modification | $ (12,961) | $ (8,672) | $ (10,229) | $ (8,577) |
Available-for-Sale and Other 49
Available-for-Sale and Other Securities (Maturities/Unrealized) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | |
Investment maturity date range | |||
Non-marketable equity securities, Amortized Cost Non-marketable equity securities, Amortized Cost | $ 332,095 | $ 331,559 | |
Marketable equity securities, Amortized Cost | 962 | 536 | |
Total investment securities, Amortized Cost | 10,203,184 | 9,359,886 | |
Non-marketable equity securities, Fair Value | 332,095 | 331,559 | |
Marketable equity securities, fair value | 1,731 | 1,269 | |
Available-for-sale and other securities | 10,254,871 | 9,384,670 | |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||
Total investment securities, Amortized Cost | 10,203,184 | 9,359,886 | |
Total investment securities, Unrealized Gross Gains | (129,921) | (117,554) | |
Total investment securities, Unrealized Gross Losses | (78,234) | (92,770) | |
Available-for-sale and other securities | 10,254,871 | 9,384,670 | |
Investment securities in unrealized loss position | |||
Total temporarily impaired securities, less than 12 months, Fair value | 2,014,035 | 1,437,360 | |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | (24,532) | (12,949) | |
Total temporarily impaired securities, over 12 months, Fair Value | 820,806 | 1,063,142 | |
Total temporarily impaired securities, over 12 months, Unrealized Losses | (53,702) | (79,821) | |
Total temporarily impaired securities, Fair Value | 2,834,841 | 2,500,502 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | (78,234) | (92,770) | |
U.S. Treasury [Member] | |||
Investment maturity date range | |||
Amortized Cost, Under 1 year | 7,083 | 0 | |
Fair Value, Under 1 year | 7,085 | 0 | |
Amortized Cost, 1-5 years | 5,446 | 5,435 | |
Fair Value, 1-5 years | 5,515 | 5,452 | |
Amortized Cost, 6-10 years | 0 | 0 | |
Fair Value, 6-10 years | 0 | 0 | |
Amortized Cost, Over 10 years | 0 | 0 | |
Fair Value, Over 10 years | 0 | 0 | |
Fair Value, Total | 12,600 | 5,452 | |
Total investment securities, Amortized Cost | 12,529 | 5,435 | |
Available-for-sale and other securities | 12,600 | 5,452 | |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||
Total investment securities, Amortized Cost | 12,529 | 5,435 | |
Total investment securities, Unrealized Gross Gains | (71) | (17) | |
Total investment securities, Unrealized Gross Losses | $ 0 | 0 | 0 |
Available-for-sale and other securities | 12,600 | 5,452 | |
Investment securities in unrealized loss position | |||
Total temporarily impaired securities, less than 12 months, Fair value | 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 | |
Total temporarily impaired securities, over 12 months, Unrealized Losses | 0 | 0 | |
Total temporarily impaired securities, Fair Value | 0 | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | $ 0 | 0 | 0 |
Federal agencies - mortgage backed securities [Member] | |||
Investment maturity date range | |||
Amortized Cost, Under 1 year | 32,515 | 47,023 | |
Fair Value, Under 1 year | 32,602 | 47,190 | |
Amortized Cost, 1-5 years | 201,594 | 216,775 | |
Fair Value, 1-5 years | 204,837 | 221,078 | |
Amortized Cost, 6-10 years | 228,390 | 184,576 | |
Fair Value, 6-10 years | 232,017 | 186,938 | |
Amortized Cost, Over 10 years | 5,647,118 | 4,825,525 | |
Fair Value, Over 10 years | 5,691,814 | 4,867,495 | |
Fair Value, Total | 6,161,270 | 5,322,701 | |
Total investment securities, Amortized Cost | 6,109,617 | 5,273,899 | |
Available-for-sale and other securities | 6,161,270 | 5,322,701 | |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||
Total investment securities, Amortized Cost | 6,109,617 | 5,273,899 | |
Total investment securities, Unrealized Gross Gains | (68,308) | (63,906) | |
Total investment securities, Unrealized Gross Losses | (16,655) | (15,104) | |
Available-for-sale and other securities | 6,161,270 | 5,322,701 | |
Investment securities in unrealized loss position | |||
Total temporarily impaired securities, less than 12 months, Fair value | 1,165,377 | 501,858 | |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | (6,575) | (1,909) | |
Total temporarily impaired securities, over 12 months, Fair Value | 284,316 | 527,280 | |
Total temporarily impaired securities, over 12 months, Unrealized Losses | (10,080) | (13,195) | |
Total temporarily impaired securities, Fair Value | 1,449,693 | 1,029,138 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | (16,655) | (15,104) | |
Other Federal Agencies [Member] | |||
Investment maturity date range | |||
Amortized Cost, Under 1 year | 1,703 | 33,047 | |
Fair Value, Under 1 year | 1,710 | 33,237 | |
Amortized Cost, 1-5 years | 8,265 | 9,122 | |
Fair Value, 1-5 years | 8,693 | 9,575 | |
Amortized Cost, 6-10 years | 152,433 | 103,530 | |
Fair Value, 6-10 years | 155,589 | 105,019 | |
Amortized Cost, Over 10 years | 161,679 | 204,016 | |
Fair Value, Over 10 years | 163,192 | 203,712 | |
Fair Value, Total | 329,184 | 351,543 | |
Total investment securities, Amortized Cost | 324,080 | 349,715 | |
Available-for-sale and other securities | 329,184 | 351,543 | |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||
Total investment securities, Amortized Cost | 324,080 | 349,715 | |
Total investment securities, Unrealized Gross Gains | (5,121) | (2,871) | |
Total investment securities, Unrealized Gross Losses | (17) | (1,043) | |
Available-for-sale and other securities | 329,184 | 351,543 | |
Investment securities in unrealized loss position | |||
Total temporarily impaired securities, less than 12 months, Fair value | 1,484 | 159,708 | |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | (17) | (1,020) | |
Total temporarily impaired securities, over 12 months, Fair Value | 0 | 1,281 | |
Total temporarily impaired securities, over 12 months, Unrealized Losses | 0 | (23) | |
Total temporarily impaired securities, Fair Value | 1,484 | 160,989 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | (17) | (1,043) | |
Total U.S. Government backed agencies [Member] | |||
Investment maturity date range | |||
Fair Value, Total | 6,503,054 | 5,679,696 | |
Total investment securities, Amortized Cost | 6,446,226 | 5,629,049 | |
Available-for-sale and other securities | 6,503,054 | 5,679,696 | |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||
Total investment securities, Amortized Cost | 6,446,226 | 5,629,049 | |
Total investment securities, Unrealized Gross Gains | (73,500) | (66,794) | |
Total investment securities, Unrealized Gross Losses | (16,672) | (16,147) | |
Available-for-sale and other securities | 6,503,054 | 5,679,696 | |
Investment securities in unrealized loss position | |||
Total temporarily impaired securities, less than 12 months, Fair value | 1,166,861 | 661,566 | |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | (6,592) | (2,929) | |
Total temporarily impaired securities, over 12 months, Fair Value | 284,316 | 528,561 | |
Total temporarily impaired securities, over 12 months, Unrealized Losses | (10,080) | (13,218) | |
Total temporarily impaired securities, Fair Value | 1,451,177 | 1,190,127 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | (16,672) | (16,147) | |
Municipal securities [Member] | |||
Investment maturity date range | |||
Amortized Cost, Under 1 year | 252,645 | 256,399 | |
Fair Value, Under 1 year | 244,911 | 255,835 | |
Amortized Cost, 1-5 years | 389,879 | 269,385 | |
Fair Value, 1-5 years | 391,985 | 274,003 | |
Amortized Cost, 6-10 years | 997,694 | 938,780 | |
Fair Value, 6-10 years | 1,006,042 | 945,954 | |
Amortized Cost, Over 10 years | 453,343 | 376,747 | |
Fair Value, Over 10 years | 475,428 | 392,777 | |
Fair Value, Total | 2,118,366 | 1,868,569 | |
Total investment securities, Amortized Cost | 2,093,561 | 1,841,311 | |
Available-for-sale and other securities | 2,118,366 | 1,868,569 | |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||
Total investment securities, Amortized Cost | 2,093,561 | 1,841,311 | |
Total investment securities, Unrealized Gross Gains | (44,281) | (37,398) | |
Total investment securities, Unrealized Gross Losses | (19,476) | (10,140) | |
Available-for-sale and other securities | 2,118,366 | 1,868,569 | |
Investment securities in unrealized loss position | |||
Total temporarily impaired securities, less than 12 months, Fair value | 521,393 | 568,619 | |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | (15,835) | (9,127) | |
Total temporarily impaired securities, over 12 months, Fair Value | 231,486 | 96,426 | |
Total temporarily impaired securities, over 12 months, Unrealized Losses | (3,641) | (1,013) | |
Total temporarily impaired securities, Fair Value | 752,879 | 665,045 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | (19,476) | (10,140) | |
Private label CMO [Member] | |||
Investment maturity date range | |||
Amortized Cost, Under 1 year | 0 | 0 | |
Fair Value, Under 1 year | 0 | 0 | |
Amortized Cost, 1-5 years | 1,065 | 0 | |
Fair Value, 1-5 years | 1,109 | 0 | |
Amortized Cost, 6-10 years | 0 | 1,314 | |
Fair Value, 6-10 years | 0 | 1,371 | |
Amortized Cost, Over 10 years | 38,217 | 42,416 | |
Fair Value, Over 10 years | 36,895 | 40,555 | |
Fair Value, Total | 38,004 | 41,926 | |
Total investment securities, Amortized Cost | 39,282 | 43,730 | |
Available-for-sale and other securities | 38,004 | 41,926 | |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||
Total investment securities, Amortized Cost | 39,282 | 43,730 | |
Total investment securities, Unrealized Gross Gains | (1,133) | (1,116) | |
Total investment securities, Unrealized Gross Losses | (2,411) | (2,920) | |
Available-for-sale and other securities | 38,004 | 41,926 | |
Investment securities in unrealized loss position | |||
Total temporarily impaired securities, less than 12 months, Fair value | 0 | 0 | |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | 0 | 0 | |
Total temporarily impaired securities, over 12 months, Fair Value | 22,246 | 22,650 | |
Total temporarily impaired securities, over 12 months, Unrealized Losses | (2,411) | (2,920) | |
Total temporarily impaired securities, Fair Value | 22,246 | 22,650 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | (2,411) | (2,920) | |
Other Asset Backed Securities [Member] | |||
Investment maturity date range | |||
Amortized Cost, Under 1 year | 0 | 0 | |
Fair Value, Under 1 year | 0 | 0 | |
Amortized Cost, 1-5 years | 146,428 | 228,852 | |
Fair Value, 1-5 years | 146,936 | 229,364 | |
Amortized Cost, 6-10 years | 128,509 | 144,163 | |
Fair Value, 6-10 years | 128,725 | 144,193 | |
Amortized Cost, Over 10 years | 552,443 | 641,984 | |
Fair Value, Over 10 years | 515,656 | 582,441 | |
Fair Value, Total | 791,317 | 955,998 | |
Total investment securities, Amortized Cost | 827,380 | 1,014,999 | |
Available-for-sale and other securities | 791,317 | 955,998 | |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||
Total investment securities, Amortized Cost | 827,380 | 1,014,999 | |
Total investment securities, Unrealized Gross Gains | (1,946) | (2,061) | |
Total investment securities, Unrealized Gross Losses | (38,009) | (61,062) | |
Available-for-sale and other securities | 791,317 | 955,998 | |
Investment securities in unrealized loss position | |||
Total temporarily impaired securities, less than 12 months, Fair value | 234,815 | 157,613 | |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | (1,490) | (641) | |
Total temporarily impaired securities, over 12 months, Fair Value | 259,598 | 325,691 | |
Total temporarily impaired securities, over 12 months, Unrealized Losses | (36,519) | (60,421) | |
Total temporarily impaired securities, Fair Value | 494,413 | 483,304 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | (38,009) | (61,062) | |
Covered Bonds [Member] | |||
Investment maturity date range | |||
Amortized Cost, Under 1 year | 0 | 0 | |
Fair Value, Under 1 year | 0 | 0 | |
Amortized Cost, 1-5 years | 0 | 0 | |
Fair Value, 1-5 years | 0 | 0 | |
Amortized Cost, 6-10 years | 0 | 0 | |
Fair Value, 6-10 years | 0 | 0 | |
Amortized Cost, Over 10 years | 0 | 0 | |
Fair Value, Over 10 years | 0 | 0 | |
Fair Value, Total | 0 | 0 | |
Total investment securities, Amortized Cost | 0 | 0 | |
Available-for-sale and other securities | 0 | 0 | |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||
Total investment securities, Amortized Cost | 0 | 0 | |
Total investment securities, Unrealized Gross Gains | 0 | 0 | |
Total investment securities, Unrealized Gross Losses | 0 | 0 | |
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 | |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | 0 | 0 | |
Total temporarily impaired securities, over 12 months, Fair Value | 0 | 0 | |
Total temporarily impaired securities, over 12 months, Unrealized Losses | 0 | 0 | |
Total temporarily impaired securities, Fair Value | 0 | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | 0 | 0 | |
Corporate debt [Member] | |||
Investment maturity date range | |||
Amortized Cost, Under 1 year | 29,986 | 18,767 | |
Fair Value, Under 1 year | 29,990 | 18,953 | |
Amortized Cost, 1-5 years | 308,150 | 314,773 | |
Fair Value, 1-5 years | 315,987 | 323,503 | |
Amortized Cost, 6-10 years | 109,769 | 145,611 | |
Fair Value, 6-10 years | 108,607 | 143,720 | |
Amortized Cost, Over 10 years | 0 | 0 | |
Fair Value, Over 10 years | 0 | 0 | |
Fair Value, Total | 454,584 | 486,176 | |
Total investment securities, Amortized Cost | 447,905 | 479,151 | |
Available-for-sale and other securities | 454,584 | 486,176 | |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||
Total investment securities, Amortized Cost | 447,905 | 479,151 | |
Total investment securities, Unrealized Gross Gains | (8,292) | (9,442) | |
Total investment securities, Unrealized Gross Losses | (1,613) | (2,417) | |
Available-for-sale and other securities | 454,584 | 486,176 | |
Investment securities in unrealized loss position | |||
Total temporarily impaired securities, less than 12 months, Fair value | 90,201 | 49,562 | |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | (580) | (252) | |
Total temporarily impaired securities, over 12 months, Fair Value | 21,677 | 88,398 | |
Total temporarily impaired securities, over 12 months, Unrealized Losses | (1,033) | (2,165) | |
Total temporarily impaired securities, Fair Value | 111,878 | 137,960 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | (1,613) | (2,417) | |
Other Securities [Member] | |||
Investment maturity date range | |||
Amortized Cost, Under 1 year | 0 | 250 | |
Fair Value, Under 1 year | 0 | 250 | |
Amortized Cost, 1-5 years | 3,950 | 3,150 | |
Fair Value, 1-5 years | 3,897 | 3,066 | |
Amortized Cost, 6-10 years | 0 | 0 | |
Fair Value, 6-10 years | 0 | 0 | |
Amortized Cost, Over 10 years | 0 | 0 | |
Fair Value, Over 10 years | 0 | 0 | |
Fair Value, Total | 349,546 | 352,305 | |
Total investment securities, Amortized Cost | 348,830 | 351,646 | |
Available-for-sale and other securities | 349,546 | 352,305 | |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | |||
Total investment securities, Amortized Cost | 348,830 | 351,646 | |
Total investment securities, Unrealized Gross Gains | (769) | (743) | |
Total investment securities, Unrealized Gross Losses | (53) | (84) | |
Available-for-sale and other securities | 349,546 | 352,305 | |
Investment securities in unrealized loss position | |||
Total temporarily impaired securities, less than 12 months, Fair value | 765 | 0 | |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | (35) | 0 | |
Total temporarily impaired securities, over 12 months, Fair Value | 1,483 | 1,416 | |
Total temporarily impaired securities, over 12 months, Unrealized Losses | (18) | (84) | |
Total temporarily impaired securities, Fair Value | 2,248 | 1,416 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | $ (53) | $ (84) |
Available-for-Sale and Other 50
Available-for-Sale and Other Securities (Realized Gains/Losses) (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Realized securities gains and losses | ||||
Gross gains on sales of securities | $ 82 | $ 490 | $ 82 | $ 17,480 |
Gross (losses) on sales of securities | 0 | 0 | 0 | (20) |
Net gain on sales of investment securities | $ 82 | $ 490 | $ 82 | $ 17,460 |
Available-for-Sale and Other 51
Available-for-Sale and Other Securities (Credit Ratings) (Details 2) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Pooled Trust Preferred [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Amortized Cost | $ 136,664 | $ 139,194 |
Fair Value | 102,070 | 82,738 |
Private label CMO [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | $ 38,004 | $ 41,926 |
Available-for-Sale and Other 52
Available-for-Sale and Other Securities (Trust Preferred) (Details 3) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Trust Preferred Securities Data [Line Items] | ||
Total investment securities, Unrealized Gross Losses | $ (78,234) | $ (92,770) |
Pooled Trust Preferred [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | 193,150 | 193,597 |
Amortized Cost | 136,664 | 139,194 |
Fair Value | 102,070 | 82,738 |
Total investment securities, Unrealized Gross Losses | (34,594) | $ (56,456) |
Pooled Trust Preferred [Member] | Alesco II [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | 41,646 | |
Amortized Cost | 28,434 | |
Fair Value | 25,212 | |
Total investment securities, Unrealized Gross Losses | $ (3,222) | |
Number of Issuers Currently Performing | 0 | |
Number of Issuers Currently Remaining | 0 | |
Actual Deferrals and Defaults as Percent of Original Collateral | 5.00% | |
Expected Defaults as Percent of Remaining Performing Collateral | 7.00% | |
Excess Subordination | 3.00% | |
Pooled Trust Preferred [Member] | ICONS [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | $ 19,515 | |
Amortized Cost | 19,515 | |
Fair Value | 15,590 | |
Total investment securities, Unrealized Gross Losses | $ (3,925) | |
Number of Issuers Currently Performing | 0 | |
Number of Issuers Currently Remaining | 0 | |
Actual Deferrals and Defaults as Percent of Original Collateral | 7.00% | |
Expected Defaults as Percent of Remaining Performing Collateral | 16.00% | |
Excess Subordination | 56.00% | |
Pooled Trust Preferred [Member] | I-Pre TSL II [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | $ 0 | |
Amortized Cost | 0 | |
Fair Value | 0 | |
Total investment securities, Unrealized Gross Losses | $ 0 | |
Number of Issuers Currently Performing | 0 | |
Number of Issuers Currently Remaining | 0 | |
Actual Deferrals and Defaults as Percent of Original Collateral | 0.00% | |
Expected Defaults as Percent of Remaining Performing Collateral | 0.00% | |
Excess Subordination | 0.00% | |
Pooled Trust Preferred [Member] | MM Comm III [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | $ 5,459 | |
Amortized Cost | 5,216 | |
Fair Value | 4,355 | |
Total investment securities, Unrealized Gross Losses | $ (861) | |
Number of Issuers Currently Performing | 0 | |
Number of Issuers Currently Remaining | 0 | |
Actual Deferrals and Defaults as Percent of Original Collateral | 5.00% | |
Expected Defaults as Percent of Remaining Performing Collateral | 6.00% | |
Excess Subordination | 33.00% | |
Pooled Trust Preferred [Member] | Pre TSL IX [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | $ 5,000 | |
Amortized Cost | 3,955 | |
Fair Value | 3,177 | |
Total investment securities, Unrealized Gross Losses | $ (778) | |
Number of Issuers Currently Performing | 0 | |
Number of Issuers Currently Remaining | 0 | |
Actual Deferrals and Defaults as Percent of Original Collateral | 17.00% | |
Expected Defaults as Percent of Remaining Performing Collateral | 9.00% | |
Excess Subordination | 8.00% | |
Pooled Trust Preferred [Member] | Pre TSL XI [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | $ 25,000 | |
Amortized Cost | 20,399 | |
Fair Value | 15,380 | |
Total investment securities, Unrealized Gross Losses | $ (5,019) | |
Number of Issuers Currently Performing | 0 | |
Number of Issuers Currently Remaining | 0 | |
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 [Member] | Pre TSL XIII [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | $ 27,530 | |
Amortized Cost | 19,999 | |
Fair Value | 16,735 | |
Total investment securities, Unrealized Gross Losses | $ (3,264) | |
Number of Issuers Currently Performing | 0 | |
Number of Issuers Currently Remaining | 0 | |
Actual Deferrals and Defaults as Percent of Original Collateral | 21.00% | |
Expected Defaults as Percent of Remaining Performing Collateral | 22.00% | |
Excess Subordination | 11.00% | |
Pooled Trust Preferred [Member] | Reg Diversified [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | $ 25,500 | |
Amortized Cost | 5,706 | |
Fair Value | 2,468 | |
Total investment securities, Unrealized Gross Losses | $ (3,238) | |
Number of Issuers Currently Performing | 0 | |
Number of Issuers Currently Remaining | 0 | |
Actual Deferrals and Defaults as Percent of Original Collateral | 32.00% | |
Expected Defaults as Percent of Remaining Performing Collateral | 7.00% | |
Excess Subordination | 0.00% | |
Pooled Trust Preferred [Member] | Soloso [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | $ 12,500 | |
Amortized Cost | 2,440 | |
Fair Value | 618 | |
Total investment securities, Unrealized Gross Losses | $ (1,822) | |
Number of Issuers Currently Performing | 0 | |
Number of Issuers Currently Remaining | 0 | |
Actual Deferrals and Defaults as Percent of Original Collateral | 29.00% | |
Expected Defaults as Percent of Remaining Performing Collateral | 19.00% | |
Excess Subordination | 0.00% | |
Pooled Trust Preferred [Member] | Tropic III [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | $ 31,000 | |
Amortized Cost | 31,000 | |
Fair Value | 18,535 | |
Total investment securities, Unrealized Gross Losses | $ (12,465) | |
Number of Issuers Currently Performing | 0 | |
Number of Issuers Currently Remaining | 0 | |
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% |
Available-for-Sale and Other 53
Available-for-Sale and Other Securities (OTTI) (Details 4) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Total OTTI losses, OTTI losses included in OCI, and OTTI recognized in the income statement for securities evaluated for impairment by debt security debt | ||||
Impairment losses recognized in earnings on available-for-sale securities | $ 0 | $ 0 | $ 0 | $ 0 |
Available-for-Sale and Other 54
Available-for-Sale and Other Securities (Details Textuals) $ in Millions | Jun. 30, 2015USD ($) |
Investment Securities (Textuals) | |
Stock issued by Federal Reserve Banks included in other securities | $ 174.4 |
Pledged investment securities to secure public and trust deposits, trading account liabilities, US Treasury demand notes and security repurchase agreements | 3,400 |
Federal Home Loan Bank of Cincinnati [Member] | |
Investment Securities (Textuals) | |
Stock issued by the Federal Home Loan Bank included in other securities | 157 |
Federal Home Loan Bank of Indianapolis [Member] | |
Investment Securities (Textuals) | |
Stock issued by the Federal Home Loan Bank included in other securities | $ 0 |
Held-to-Maturity Securities (De
Held-to-Maturity Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Contractual maturities of held-to-maturity securities | ||
Held-to-maturity securities, Total | $ 3,304,160 | $ 3,379,905 |
Held-to-maturity Securities, Fair Value | 3,309,479 | 3,382,715 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | ||
Held-to-maturity securities, Total | 3,304,160 | 3,379,905 |
Held-to-maturity Securities, Gross Gain | (26,803) | (26,083) |
Held-to-maturity Securities, Gross Losses | (21,484) | (23,273) |
Held-to-maturity securities, fair value | 3,309,479 | 3,382,715 |
Continuous Unrealized Loss Position | ||
Total Temporarily Impaired Securities, Less Than Twelve Months, Fair Value | 1,050,850 | 752,484 |
Total Temporarily Impaired Securities Unrealized Losses, Less Than Twelve Months, Fair Value | (8,486) | (6,135) |
Total Temporarily Impaired Securities, Over Twelve Months, Fair Value | 411,682 | 693,757 |
Total Temporarily Impaired Securites, Unrealized Losses Over Twelve Months | (12,998) | (17,138) |
Total Temporarily Impaired Securities, Fair Value | 1,462,532 | 1,446,241 |
Total Temporarily Impaired Securities, Unrealized Losses | (21,484) | (23,273) |
Federal agencies - mortgage backed securities [Member] | ||
Contractual maturities of held-to-maturity securities | ||
Held-to-maturity Securities, Under 1 year | 0 | 0 |
Held-to-maturity Securities, 1-5 years | 0 | 0 |
Held-to-maturity Securities, 6-10 years | 24,901 | 24,901 |
Held-to-maturity Securities, Over 10 years | 2,906,086 | 3,136,460 |
Held-to-maturity securities, Total | 2,930,987 | 3,161,361 |
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 0 | 0 |
Fair Value, 6-10 years | 24,476 | 24,263 |
Fair Value, Over 10 years | 2,911,305 | 3,140,194 |
Held-to-maturity Securities, Fair Value | 2,935,781 | 3,164,457 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | ||
Held-to-maturity securities, Total | 2,930,987 | 3,161,361 |
Held-to-maturity Securities, Gross Gain | (24,266) | (24,832) |
Held-to-maturity Securities, Gross Losses | (19,472) | (21,736) |
Held-to-maturity securities, fair value | 2,935,781 | 3,164,457 |
Continuous Unrealized Loss Position | ||
Total Temporarily Impaired Securities, Less Than Twelve Months, Fair Value | 887,538 | 707,934 |
Total Temporarily Impaired Securities Unrealized Losses, Less Than Twelve Months, Fair Value | (6,871) | (5,550) |
Total Temporarily Impaired Securities, Over Twelve Months, Fair Value | 382,679 | 622,026 |
Total Temporarily Impaired Securites, Unrealized Losses Over Twelve Months | (12,601) | (16,186) |
Total Temporarily Impaired Securities, Fair Value | 1,270,217 | 1,329,960 |
Total Temporarily Impaired Securities, Unrealized Losses | (19,472) | (21,736) |
Other Federal Agencies [Member] | ||
Contractual maturities of held-to-maturity securities | ||
Held-to-maturity Securities, Under 1 year | 0 | 0 |
Held-to-maturity Securities, 1-5 years | 0 | 0 |
Held-to-maturity Securities, 6-10 years | 92,903 | 54,010 |
Held-to-maturity Securities, Over 10 years | 272,671 | 156,553 |
Held-to-maturity securities, Total | 365,574 | 210,563 |
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 0 | 0 |
Fair Value, 6-10 years | 94,396 | 54,843 |
Fair Value, Over 10 years | 271,961 | 155,821 |
Held-to-maturity Securities, Fair Value | 366,357 | 210,664 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | ||
Held-to-maturity securities, Total | 365,574 | 210,563 |
Held-to-maturity Securities, Gross Gain | (2,537) | (1,251) |
Held-to-maturity Securities, Gross Losses | (1,754) | (1,150) |
Held-to-maturity securities, fair value | 366,357 | 210,664 |
Continuous Unrealized Loss Position | ||
Total Temporarily Impaired Securities, Less Than Twelve Months, Fair Value | 163,312 | 36,956 |
Total Temporarily Impaired Securities Unrealized Losses, Less Than Twelve Months, Fair Value | (1,615) | (198) |
Total Temporarily Impaired Securities, Over Twelve Months, Fair Value | 21,662 | 71,731 |
Total Temporarily Impaired Securites, Unrealized Losses Over Twelve Months | (139) | (952) |
Total Temporarily Impaired Securities, Fair Value | 184,974 | 108,687 |
Total Temporarily Impaired Securities, Unrealized Losses | (1,754) | (1,150) |
Municipal securities [Member] | ||
Contractual maturities of held-to-maturity securities | ||
Held-to-maturity Securities, Under 1 year | 0 | 0 |
Held-to-maturity Securities, 1-5 years | 0 | 0 |
Held-to-maturity Securities, 6-10 years | 0 | 0 |
Held-to-maturity Securities, Over 10 years | 7,599 | 7,981 |
Held-to-maturity securities, Total | 7,599 | 7,981 |
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 0 | 0 |
Fair Value, 6-10 years | 0 | 0 |
Fair Value, Over 10 years | 7,341 | 7,594 |
Held-to-maturity Securities, Fair Value | 7,341 | 7,594 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | ||
Held-to-maturity securities, Total | 7,599 | 7,981 |
Held-to-maturity Securities, Gross Gain | 0 | 0 |
Held-to-maturity Securities, Gross Losses | (258) | (387) |
Held-to-maturity securities, fair value | 7,341 | 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 | 7,341 | 0 |
Total Temporarily Impaired Securites, Unrealized Losses Over Twelve Months | (258) | 0 |
Total Temporarily Impaired Securities, Fair Value | 7,341 | 7,594 |
Total Temporarily Impaired Securities, Unrealized Losses | (258) | (387) |
Total U.S. Government backed agencies [Member] | ||
Contractual maturities of held-to-maturity securities | ||
Held-to-maturity securities, Total | 3,296,561 | 3,371,924 |
Held-to-maturity Securities, Fair Value | 3,302,138 | 3,375,121 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | ||
Held-to-maturity securities, Total | 3,296,561 | 3,371,924 |
Held-to-maturity Securities, Gross Gain | (26,803) | (26,083) |
Held-to-maturity Securities, Gross Losses | (21,226) | (22,886) |
Held-to-maturity securities, fair value | 3,302,138 | 3,375,121 |
Continuous Unrealized Loss Position | ||
Total Temporarily Impaired Securities, Less Than Twelve Months, Fair Value | 1,050,850 | 744,890 |
Total Temporarily Impaired Securities Unrealized Losses, Less Than Twelve Months, Fair Value | (8,486) | (5,748) |
Total Temporarily Impaired Securities, Over Twelve Months, Fair Value | 404,341 | 693,757 |
Total Temporarily Impaired Securites, Unrealized Losses Over Twelve Months | (12,740) | (17,138) |
Total Temporarily Impaired Securities, Fair Value | 1,455,191 | 1,438,647 |
Total Temporarily Impaired Securities, Unrealized Losses | $ (21,226) | $ (22,886) |
Held-to-Maturity Securities (56
Held-to-Maturity Securities (Details Textuals) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Schedule of Held-to-maturity Securities [Line Items] | ||||
Available for sale securities transferred to held to maturity securities | $ 0 | $ 0 | $ 0 | $ 0 |
Purchases of held-to-maturity securities | 215,447,000 | 0 | ||
Held-to-Maturity Securities (Textuals) | ||||
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 |
Loans sales and securitizatio57
Loans sales and securitizations (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Residential Mortgage [Member] | |||||
Summarizes activity relating to loans sold securitized with servicing retained | |||||
Loans sold with servicing retained | $ 938,412,000 | $ 566,471,000 | $ 1,569,096,000 | $ 1,048,308,000 | |
Pretax gains resulting from above loan sales | [1] | 27,471,000 | 14,996,000 | 42,334,000 | 27,072,000 |
Summarize the changes in MSRs using the fair value method | |||||
Fair value, beginning of period | 20,455,000 | 30,628,000 | 22,786,000 | 34,236,000 | |
Change in fair value during the period due to: | |||||
Time decay | 332,000 | 656,000 | 671,000 | 1,381,000 | |
Payoffs | 997,000 | 1,611,000 | 1,815,000 | 3,525,000 | |
Changes in valuation inputs or assumptions | 1,555,000 | (1,614,000) | 381,000 | (2,583,000) | |
Fair value, end of period | $ 20,681,000 | $ 26,747,000 | $ 20,681,000 | $ 26,747,000 | |
Residential Mortgage [Member] | Fair value method | |||||
Change in fair value during the period due to: | |||||
Weighted-average life (in years) | 5 years 1 month | 3 years 11 months | 5 years 1 month | 3 years 11 months | |
Residential Mortgage [Member] | Amortization method | |||||
Change in fair value during the period due to: | |||||
Weighted-average life (in years) | 6 years 6 months | 5 years 11 months | 6 years 6 months | 5 years 11 months | |
Automobile Loan [Member] | |||||
Summarizes activity relating to loans sold securitized with servicing retained | |||||
Loans sold with servicing retained | $ 750,000,000 | $ 0 | $ 0 | ||
Pretax gains resulting from above loan sales | $ 5,333,000 | $ 0 | $ 5,333,000 | $ 0 | |
Automobile Loan [Member] | Amortization method | |||||
Change in fair value during the period due to: | |||||
Weighted-average life (in years) | 3 years 2 months | 3 years | 3 years 2 months | 3 years | |
Small Business Association (SBA) Loan [Member] | |||||
Summarizes activity relating to loans sold securitized with servicing retained | |||||
Loans sold with servicing retained | $ 53,534,000 | $ 45,229,000 | $ 95,935,000 | $ 86,101,000 | |
Pretax gains resulting from above loan sales | [1] | $ 4,696,000 | $ 5,396,000 | $ 8,270,000 | $ 9,772,000 |
Change in fair value during the period due to: | |||||
Weighted-average life (in years) | 3 years 4 months | 3 years 6 months | |||
[1] | Recorded in mortgage banking income. |
Loans sales and securitizatio58
Loans sales and securitizations (Details 1) - Types of Financial Instruments [Domain] - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Residential Mortgage [Member] | |||||
Summarizes activity relating to loans sold securitized with servicing retained | |||||
Loans sold with servicing retained | $ 938,412,000 | $ 566,471,000 | $ 1,569,096,000 | $ 1,048,308,000 | |
Summarize the changes in servicing rights using the amortization method | |||||
Carrying value, beginning of year | 125,454,000 | 132,651,000 | 132,813,000 | 128,064,000 | $ 128,064,000 |
New servicing assets created | 10,338,000 | 5,578,000 | 16,792,000 | 10,631,000 | |
Servicing assets acquired | 0 | 0 | 0 | 3,505,000 | |
Impairment charge/(recovery) | 12,970,000 | (3,685,000) | 4,980,000 | (7,027,000) | |
Amortization and other | (5,635,000) | (1,431,000) | (11,458,000) | (2,060,000) | |
Carrying value, end of period | 143,127,000 | 133,113,000 | 143,127,000 | 133,113,000 | 132,813,000 |
Fair value, end of period | $ 143,434,000 | $ 139,915,000 | $ 143,434,000 | $ 139,915,000 | |
Residential Mortgage [Member] | Fair value method | |||||
Summarize the changes in servicing rights using the amortization method | |||||
Weighted-average life (in years) | 5 years 1 month | 3 years 11 months | 5 years 1 month | 3 years 11 months | |
Residential Mortgage [Member] | Amortization method | |||||
Summarize the changes in servicing rights using the amortization method | |||||
Weighted-average life (in years) | 6 years 6 months | 5 years 11 months | 6 years 6 months | 5 years 11 months | |
Automobile Loan [Member] | |||||
Summarizes activity relating to loans sold securitized with servicing retained | |||||
Loans sold with servicing retained | $ 750,000,000 | $ 0 | $ 0 | ||
Summarize the changes in servicing rights using the amortization method | |||||
Carrying value, beginning of year | 5,063,000 | 14,357,000 | $ 6,898,000 | 17,672,000 | 17,672,000 |
New servicing assets created | 11,180,000 | 0 | 11,180,000 | 0 | |
Amortization and other | (1,913,000) | (2,842,000) | (3,748,000) | (6,157,000) | |
Carrying value, end of period | 14,330,000 | 11,515,000 | 14,330,000 | 11,515,000 | 6,898,000 |
Fair value, end of period | $ 14,336,000 | $ 11,846,000 | $ 14,336,000 | $ 11,846,000 | |
Automobile Loan [Member] | Amortization method | |||||
Summarize the changes in servicing rights using the amortization method | |||||
Weighted-average life (in years) | 3 years 2 months | 3 years | 3 years 2 months | 3 years | |
Small Business Association (SBA) Loan [Member] | |||||
Summarizes activity relating to loans sold securitized with servicing retained | |||||
Loans sold with servicing retained | $ 53,534,000 | $ 45,229,000 | $ 95,935,000 | $ 86,101,000 | |
Summarize the changes in servicing rights using the amortization method | |||||
Carrying value, beginning of year | 17,947,000 | 17,028,000 | 18,536,000 | 16,865,000 | 16,865,000 |
New servicing assets created | 1,839,000 | 1,526,000 | 3,296,000 | 2,861,000 | |
Impairment charge/(recovery) | 0 | 0 | 0 | 0 | |
Amortization and other | (1,514,000) | (1,362,000) | (3,560,000) | (2,534,000) | |
Carrying value, end of period | 18,272,000 | 17,192,000 | 18,272,000 | 17,192,000 | $ 18,536,000 |
Fair value, end of period | $ 20,350,000 | $ 17,192,000 | $ 20,350,000 | $ 17,192,000 | |
Weighted-average life (in years) | 3 years 4 months | 3 years 6 months |
Loans sales and securitizatio59
Loans sales and securitizations (Details Textuals) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2015 | Jun. 30, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Loans sales and securitizations (Textuals) [Abstract] | ||||||||
Total of automobile loans transferred in securitization transactions | $ 800,000,000 | $ 1,300,000,000 | $ 1,000,000,000 | |||||
Residential Mortgage [Member] | ||||||||
Loans sales and securitizations (Textuals) [Abstract] | ||||||||
Servicing income | $ 3,700,000 | $ 4,900,000 | $ 7,600,000 | $ 9,900,000 | ||||
Unpaid principal balance of third party serviced loans | 15,700,000,000 | 15,700,000,000 | $ 15,600,000,000 | |||||
Automobile Loan [Member] | ||||||||
Loans sales and securitizations (Textuals) [Abstract] | ||||||||
Servicing income | 1,400,000 | 2,000,000 | 2,800,000 | 4,100,000 | ||||
Unpaid principal balance of third party serviced loans | 1,300,000,000 | 1,300,000,000 | 800,000,000 | |||||
Automobile Loan [Member] | 2015-1 Automobile Trust [Member] | ||||||||
Loans sales and securitizations (Textuals) [Abstract] | ||||||||
Gain or loss from sale of loans in securitizations and sales | 5,500,000 | |||||||
Net proceeds received a loan securitization or sale transaction | 780,100,000 | |||||||
Total servicing assets recorded resulting from securitizations and sales during the current year | 11,200,000 | |||||||
Total of automobile loans transferred in securitization transactions | 750,000,000 | |||||||
Small Business Association (SBA) Loan [Member] | ||||||||
Loans sales and securitizations (Textuals) [Abstract] | ||||||||
Servicing income | 2,100,000 | $ 1,800,000 | 4,100,000 | $ 3,600,000 | ||||
Unpaid principal balance of third party serviced loans | $ 929,400,000 | $ 929,400,000 | $ 898,000,000 |
Goodwill and Other Intangible60
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Goodwill by business segment | ||||
Beginning Balance | $ 522,541 | |||
Goodwill acquired during the period | $ 155,828 | |||
Adjustments / Reallocation of goodwill | 0 | |||
Goodwill impairment | 0 | 0 | $ 3,000 | |
Ending Balance | 678,369 | 678,369 | ||
Summary of other intangible assets | ||||
Total other intangible assets, gross carrying amount | 541,342 | 541,342 | $ 533,142 | |
Total other intangible assets, accumulated amortization | (478,637) | (478,637) | (458,471) | |
Total other intangible assets, net of carrying value | 62,705 | 62,705 | 74,671 | |
Estimated amortization expense of other intangible assets | ||||
2,013 | 7,700 | 7,700 | ||
2,014 | 14,316 | 14,316 | ||
2,015 | 12,908 | 12,908 | ||
2,016 | 11,135 | 11,135 | ||
2,017 | 9,825 | 9,825 | ||
2018 and after | 3,076 | 3,076 | ||
Goodwill impairment | 0 | 0 | $ 3,000 | |
Retail & Business Banking [Member] | ||||
Goodwill by business segment | ||||
Beginning Balance | 368,097 | |||
Goodwill acquired during the period | 0 | |||
Adjustments / Reallocation of goodwill | 0 | |||
Goodwill impairment | 0 | |||
Ending Balance | 368,097 | 368,097 | ||
Estimated amortization expense of other intangible assets | ||||
Goodwill impairment | 0 | |||
Commercial Banking [Member] | ||||
Goodwill by business segment | ||||
Beginning Balance | 59,594 | |||
Goodwill acquired during the period | 155,828 | |||
Adjustments / Reallocation of goodwill | 0 | |||
Goodwill impairment | 0 | |||
Ending Balance | 215,422 | 215,422 | ||
Estimated amortization expense of other intangible assets | ||||
Goodwill impairment | 0 | |||
AFCRE [Member] | ||||
Goodwill by business segment | ||||
Beginning Balance | 0 | |||
Goodwill acquired during the period | 0 | |||
Adjustments / Reallocation of goodwill | 0 | |||
Goodwill impairment | 0 | |||
Ending Balance | 0 | 0 | ||
Estimated amortization expense of other intangible assets | ||||
Goodwill impairment | 0 | |||
RBPCG [Member] | ||||
Goodwill by business segment | ||||
Beginning Balance | 90,012 | |||
Goodwill acquired during the period | 0 | |||
Adjustments / Reallocation of goodwill | 0 | |||
Goodwill impairment | 0 | |||
Ending Balance | 90,012 | 90,012 | ||
Estimated amortization expense of other intangible assets | ||||
Goodwill impairment | 0 | |||
Home Lending [Member] | ||||
Goodwill by business segment | ||||
Beginning Balance | 0 | |||
Goodwill acquired during the period | 0 | |||
Adjustments / Reallocation of goodwill | 0 | |||
Goodwill impairment | 0 | |||
Ending Balance | 0 | 0 | ||
Estimated amortization expense of other intangible assets | ||||
Goodwill impairment | 0 | |||
Treasury Other [Member] | ||||
Goodwill by business segment | ||||
Beginning Balance | 4,838 | |||
Goodwill acquired during the period | 0 | |||
Adjustments / Reallocation of goodwill | 0 | |||
Goodwill impairment | 0 | |||
Ending Balance | 4,838 | 4,838 | ||
Estimated amortization expense of other intangible assets | ||||
Goodwill impairment | 0 | |||
Core deposit intangible [Member] | ||||
Summary of other intangible assets | ||||
Total other intangible assets, gross carrying amount | 400,058 | 400,058 | 400,058 | |
Total other intangible assets, accumulated amortization | (382,219) | (382,219) | (366,907) | |
Total other intangible assets, net of carrying value | 17,839 | 17,839 | 33,151 | |
Customer relationship [Member] | ||||
Summary of other intangible assets | ||||
Total other intangible assets, gross carrying amount | 116,120 | 116,120 | 107,920 | |
Total other intangible assets, accumulated amortization | (71,366) | (71,366) | (66,534) | |
Total other intangible assets, net of carrying value | 44,754 | 44,754 | 41,386 | |
Other [Member] | ||||
Summary of other intangible assets | ||||
Total other intangible assets, gross carrying amount | 25,164 | 25,164 | 25,164 | |
Total other intangible assets, accumulated amortization | (25,052) | (25,052) | (25,030) | |
Total other intangible assets, net of carrying value | $ 112 | $ 112 | $ 134 |
Goodwill and Other Intangible61
Goodwill and Other Intangible Assets (Details Textuals) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Business Acquisition Line Items | |||
Goodwill | $ 678,369 | $ 522,541 | |
Other intangible assets | $ 62,705 | $ 74,671 | |
Macquarie Equipment Finance, Inc [Member] | |||
Business Acquisition Line Items | |||
Goodwill | $ 155,800 | ||
Other intangible assets | $ 8,200 |
Premises and Equipment (Details
Premises and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment, Net, by Type [Abstract] | ||
Property, Plant and Equipment, Net | $ 615,436 | $ 616,407 |
Short Term Borrowings (Details)
Short Term Borrowings (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Short-term Debt [Line Items] | ||
Short Term Borrowings | $ 1,511,444 | $ 2,397,101 |
Other Long-term Debt (Details)
Other Long-term Debt (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | |||
Debt Instrument, Carrying Amount | $ 317,090 | $ 317,090 | |
Long-term borrowings | $ 5,854,584 | $ 5,854,584 | $ 4,335,962 |
Debt Instrument, Maturity Date, Description | no longer than 90 days | ||
Debt Instrument, Description of Variable Rate Basis | three month LIBOR | ||
Senior Note Payable Due April 2017 Variable | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Description of Variable Rate Basis | 0 | ||
Debt Instrument, Basis Spread on Variable Rate | 0.00% | ||
Macquarie Equipment Finance [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.20% | 3.20% | |
Debt Instrument, Maturity Date, Description | various | ||
UnsecuredDebt | $ 293,400 | $ 293,400 | |
Macquarie Equipment Finance2 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Effective Percentage | 1.70% | 1.70% | |
Long-term borrowings | $ 254,800 | $ 254,800 | |
Debt Instrument, Maturity Date, Description | various | ||
Senior Note Payable Due June 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date | Jun. 30, 2018 | ||
DebtInstrumentFaceAmount | $ 750,000 | $ 750,000 | |
DebtInstrumentInterestRateStatedPercentage | 2.00% | 2.00% | |
DebtInstrumentpercentofvalue | 99.711% | 99.711% | |
Senior Note Payable Due February 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date | Feb. 26, 2018 | ||
DebtInstrumentFaceAmount | $ 500,000 | $ 500,000 | |
DebtInstrumentInterestRateStatedPercentage | 1.70% | 1.70% | |
DebtInstrumentpercentofvalue | 99.86% | 99.86% | |
Senior Note Payable Due April 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date | Apr. 1, 2020 | ||
DebtInstrumentFaceAmount | $ 500,000 | $ 500,000 | |
DebtInstrumentInterestRateStatedPercentage | 2400.00% | 2400.00% | |
DebtInstrumentpercentofvalue | 99.874% | 99.874% |
Other Comprehensive Income (Act
Other Comprehensive Income (Activity/Rollforward) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Pretax | ||||
Total other comprehensive income (loss), pretax | $ (38,310) | $ 65,056 | $ 56,738 | $ 84,188 |
Tax (Expense) Benefit | ||||
Total other comprehensive income (loss), tax (expense) benefit | 13,492 | (23,036) | (20,096) | (29,906) |
After-tax | ||||
Transisition obligation | 8,720 | 809 | 12,110 | 5,598 |
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale | (33,812) | 23,448 | 5,140 | 30,401 |
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships, after tax | (629) | 17,186 | 17,586 | 17,129 |
Change in pension and post-retirement benefit plan assets and liabilities, after-tax | 903 | 577 | 1,806 | 1,154 |
Total other comprehensive income (loss) | (24,818) | 42,020 | 36,642 | 54,282 |
Activity in accumulated other comprehensive income, net of tax | ||||
Beginning Balance | (222,292) | (214,009) | ||
Period change | 36,642 | 54,282 | ||
OCI before reclassifications | 35,163 | 65,714 | ||
Amounts reclassified from accumulated OCI | 1,479 | (11,432) | ||
Ending Balance | (185,650) | (159,727) | (185,650) | (159,727) |
Unrealized gains and losses on debt securities [Member] | ||||
Pretax | ||||
Non-credit-related impairment losses (recoveries) on debt (equity) securities not expected to be sold, before-tax | 13,490 | 1,252 | 18,735 | 8,660 |
Unrealized holding gains (losses) on debt (equity) securities available for sale arising during the period, pretax | (52,119) | 36,437 | 8,384 | 62,682 |
Less: Reclassification adjustment for net losses (gains) losses included in net income, pretax | (120) | (284) | (241) | (15,659) |
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, pretax | (38,749) | 37,405 | 26,878 | 55,683 |
Tax (Expense) Benefit | ||||
Non-credit-related impairment losses (recoveries) on debt (equity) securities not expected to be sold, tax (expense) benefit | (4,770) | (443) | (6,625) | (3,062) |
Unrealized holding gains (losses) on debt (equity) securities available for sale arising during the period, tax (expense) benefit | 18,374 | (13,015) | (3,103) | (22,347) |
Less: Reclassification adjustment for net losses (gains) losses included in net income, tax (expense) benefit | 42 | 100 | 84 | 5,481 |
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, tax (expense) benefit | 13,646 | (13,358) | 9,644 | 19,928 |
After-tax | ||||
Transisition obligation | 8,720 | 809 | 12,110 | 5,598 |
Unrealized holding gains (losses) on debt (equity) securities available for sale arising during the period, after-tax | (33,745) | 23,422 | 5,281 | 40,335 |
Less: Reclassification adjustment for net losses (gains) losses included in net income, after-tax | (78) | (184) | (157) | (10,178) |
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale | (25,103) | 24,047 | 17,234 | 35,755 |
Activity in accumulated other comprehensive income, net of tax | ||||
Beginning Balance | 15,137 | (39,234) | ||
Period change | 17,234 | 35,755 | ||
OCI before reclassifications | 17,391 | |||
Amounts reclassified from accumulated OCI | (157) | (10,178) | ||
Ending Balance | 32,371 | (3,479) | 32,371 | (3,479) |
Unrealized gains and losses on equity securities [Member] | ||||
Pretax | ||||
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, pretax | 16 | 323 | 25 | 376 |
Tax (Expense) Benefit | ||||
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, tax (expense) benefit | (5) | (113) | 9 | 132 |
After-tax | ||||
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale | 11 | 210 | 16 | 244 |
Activity in accumulated other comprehensive income, net of tax | ||||
Beginning Balance | 484 | 292 | ||
Period change | 16 | 244 | ||
OCI before reclassifications | 16 | 244 | ||
Amounts reclassified from accumulated OCI | 0 | 0 | ||
Ending Balance | 500 | 536 | 500 | 536 |
Unrealized gains and losses on cash flow hedging derivatives [Member] | ||||
Pretax | ||||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period, pretax | (829) | 27,253 | 27,317 | 30,058 |
Less: Reclassification adjustment for net losses (gains) losses included in net income, pretax | (138) | (813) | (261) | (3,705) |
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships, pretax | (967) | 26,440 | 27,056 | 26,353 |
Tax (Expense) Benefit | ||||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period, tax (expense) benefit | 290 | (9,539) | (9,561) | (10,521) |
Less: Reclassification adjustment for net losses (gains) losses included in net income, tax (expense) benefit | 48 | 285 | 91 | 1,297 |
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | 338 | (9,254) | (9,470) | (9,224) |
After-tax | ||||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period, after-tax | (539) | 17,714 | 17,756 | 19,537 |
Less: Reclassification adjustment for net losses (gains) losses included in net income, after-tax | (90) | (528) | (170) | (2,408) |
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships, after tax | (629) | 17,186 | 17,586 | 17,129 |
Activity in accumulated other comprehensive income, net of tax | ||||
Beginning Balance | (12,233) | (18,844) | ||
Period change | 17,586 | 17,129 | ||
OCI before reclassifications | 17,756 | 19,537 | ||
Amounts reclassified from accumulated OCI | (170) | (2,408) | ||
Ending Balance | 5,353 | (1,715) | 5,353 | (1,715) |
Accumulated Unrealized Losses for Pension and Other Post-retirement obligations [Member] | ||||
Pretax | ||||
Re-measurement obligation, pre-tax | 0 | 0 | ||
Defined benefit pension items, pre-tax | 0 | 0 | ||
Amortization of net actuarial loss and prior service cost included in income, pretax | 888 | |||
Curtailment | 0 | 0 | ||
Change in pension and post-retirement benefit plan assets and liabilities, pretax | 1,390 | 2,779 | ||
Tax (Expense) Benefit | ||||
Re-measurement obligation, tax (expense) benefit | 0 | 0 | ||
Defined benefit pension items, tax (expense) benefit | 0 | 0 | ||
Amortization of net actuarial loss and prior service cost included in income, tax (expense) benefit | (311) | |||
Change in pension and post-retirement benefit plan assets and liabilities, tax (expense) benefit | (487) | (973) | ||
After-tax | ||||
Re-measurement obligation, after tax | 0 | 0 | ||
Amortization of net actuarial loss and prior service cost included in income, net of tax | 577 | |||
Defined benefit pension items, after tax | 0 | 0 | ||
Change in pension and post-retirement benefit plan assets and liabilities, after-tax | 903 | 1,806 | ||
Activity in accumulated other comprehensive income, net of tax | ||||
Beginning Balance | (225,680) | (156,223) | ||
Period change | 1,806 | 1,154 | ||
OCI before reclassifications | 0 | 0 | ||
Amounts reclassified from accumulated OCI | 1,806 | 1,154 | ||
Ending Balance | $ (223,874) | $ (155,069) | $ (223,874) | (155,069) |
Debt Securities [Member] | Unrealized gains and losses on debt securities [Member] | ||||
Activity in accumulated other comprehensive income, net of tax | ||||
OCI before reclassifications | $ 45,933 |
Other Comprehensive Income (Rec
Other Comprehensive Income (Reclassifications) (Details 1) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - held-to-maturity securities - taxable | $ 20,742,000 | $ 22,614,000 | $ 41,408,000 | $ 45,934,000 |
Gain (Loss) on Sale of Securities, Net | 82,000 | 490,000 | 82,000 | 17,460,000 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | 0 | 0 | 0 | 0 |
Interest income - loans and leases | 436,564,000 | 420,938,000 | 857,177,000 | 823,446,000 |
Noninterest income - other income | 44,565,000 | 35,975,000 | 71,656,000 | 66,877,000 |
Other Noninterest Expense | 41,215,000 | 33,429,000 | 77,277,000 | 84,474,000 |
Transisition obligation | 8,720,000 | 809,000 | 12,110,000 | 5,598,000 |
Income before income taxes | 260,263,000 | 222,094,000 | 480,123,000 | 423,334,000 |
Income Tax Expense (Benefit) | 64,057,000 | 57,475,000 | 118,063,000 | 109,572,000 |
Net income applicable to common shareholders | 188,238,000 | 156,656,000 | 346,127,000 | 297,835,000 |
Interest Income, Securities, Taxable | 51,525,000 | 42,028,000 | 99,381,000 | 80,484,000 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Income before income taxes | 15,659,000 | |||
Income Tax Expense (Benefit) | (84,000) | (5,481,000) | ||
Net income applicable to common shareholders | 157,000 | 10,178,000 | ||
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - held-to-maturity securities - taxable | 80,000 | 163,000 | 201,000 | 338,000 |
Gain (Loss) on Sale of Securities, Net | 40,000 | 121,000 | 40,000 | 15,321,000 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | 0 | 0 | ||
Income before income taxes | 120,000 | 284,000 | 241,000 | |
Income Tax Expense (Benefit) | (42,000) | (100,000) | ||
Net income applicable to common shareholders | 78,000 | 184,000 | ||
Accumulated Other-than-Temporary Impairment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | 0 | 0 | ||
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Income before income taxes | 261,000 | 3,705,000 | ||
Income Tax Expense (Benefit) | (91,000) | (1,297,000) | ||
Net income applicable to common shareholders | 170,000 | 2,408,000 | ||
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Interest Rate Contract [Member] | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - loans and leases | 251,000 | |||
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Interest Rate Contract [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - loans and leases | 118,000 | 895,000 | 3,787,000 | |
Noninterest income - other income | 20,000 | (82,000) | 10,000 | (82,000) |
Other Noninterest Expense | 0 | 0 | 0 | 0 |
Income before income taxes | 138,000 | 813,000 | ||
Income Tax Expense (Benefit) | (48,000) | (285,000) | ||
Net income applicable to common shareholders | 90,000 | 528,000 | ||
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Net actuarial gains (losses) | (1,390,000) | (888,000) | (2,779,000) | (1,776,000) |
Prior service costs | 0 | 0 | 0 | 0 |
Transisition obligation | 0 | 0 | ||
Curtailment | 0 | 0 | ||
Income before income taxes | (1,390,000) | (888,000) | (2,779,000) | (1,776,000) |
Income Tax Expense (Benefit) | 487,000 | 311,000 | 973,000 | 622,000 |
Net income applicable to common shareholders | $ (903,000) | $ (577,000) | $ (1,806,000) | $ (1,154,000) |
Shareholder's Equity (Details)
Shareholder's Equity (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Shareholder's Equity (Textuals) [Abstract] | ||||
StockRepurchaseProgramAuthorizedAmount | $ 366,000 | $ 366,000 | ||
Purchase of common stock shares | 8.8 | 12.1 | 13.8 | 26.7 |
Purchase of common stock shares, value | $ (150,847) | $ (246,989) | ||
Purchase of common stock, average price per share | $ 11.2 | $ 9.17 | $ 10.92 | $ 9.26 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Basic earnings per common share: | ||||
Net income | $ 196,206 | $ 164,619 | $ 362,060 | $ 313,762 |
Preferred stock dividends, deemed dividend and accretion of discount | (7,968) | (7,963) | (15,933) | (15,927) |
Net income applicable to common shareholders | $ 188,238 | $ 156,656 | $ 346,127 | $ 297,835 |
Average common shares issued and outstanding | 806,891 | 821,546 | 808,335 | 825,603 |
Basic earnings per common share | $ 0.23 | $ 0.19 | $ 0.43 | $ 0.36 |
Diluted earnings per common share | ||||
Net income applicable to common shareholders | $ 188,238 | $ 156,656 | $ 346,127 | $ 297,835 |
Effect of assumed preferred stock conversion | 7,968 | 7,963 | 15,933 | 15,927 |
Net income applicable to diluted earnings per share | $ 188,238 | $ 156,656 | $ 346,127 | $ 297,835 |
Average common shares issued and outstanding | 806,891 | 821,546 | 808,335 | 825,603 |
Dilutive potential common shares: | ||||
Stock options and restricted stock units | 11,250 | 11,395 | 11,688 | 11,426 |
Shares held in deferred compensation plans | 1,912 | 1,245 | 1,809 | 1,249 |
Other | 185 | 501 | 191 | 268 |
Dilutive potential common shares: | 13,347 | 13,141 | 13,688 | 12,943 |
Total diluted average common shares issued and outstanding | 820,238 | 834,687 | 822,023 | 838,546 |
Diluted earnings (loss) per common share | $ 0.23 | $ 0.19 | $ 0.42 | $ 0.36 |
Earnings Loss Per Share (Textuals) [Abstract] | ||||
Options outstanding to purchase common stock shares having antidilutive effect | 1,500 | 3,100 | 1,300 | 2,600 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Deferred Tax Provision Benefit [Line Items] | |||||
Total deferred tax provision (benefit) | $ 24,138 | $ (10,280) | |||
Provision for income taxes | $ 64,057 | $ 57,475 | 118,063 | 109,572 | |
Gross Unrecognized Tax Benefits Reconcilement [Line Items] | |||||
Unrecognized Tax Benefits, Beginning Balance | 1,200 | ||||
Unrecognized Tax Benefits, Ending Balance | 0 | 2,800 | 0 | 2,800 | |
Provision (benefit) for income taxes reconcilement | |||||
Provision for income taxes | 64,057 | 57,475 | 118,063 | 109,572 | |
Income Taxes Textuals [Abstract] | |||||
Total interest accrued on the unrecognized tax benefits | 0 | $ 100 | 0 | $ 100 | $ 100 |
Reasonably possible change in unrecognized tax benefits in the next 12 months | $ 0 | $ 0 |
Benefit Plans (Details)
Benefit Plans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Change in Fair Value of Plan Assets [Abstract] | ||||
Defined Benefit Plan, Fair Value of Plan Assets, Beginning Balance | $ 653,013 | |||
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance | $ 630,535 | 630,535 | ||
Pension Benefits [Member] | ||||
Components of net periodic benefit expense [Abstract] | ||||
Service cost | 458 | $ 435 | 915 | $ 870 |
Interest cost | 7,984 | 8,100 | 15,969 | 16,200 |
Expected return on plan assets | (11,044) | (11,446) | (22,087) | (22,892) |
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Amortization of gains (losses) | 1,984 | 1,442 | 3,966 | 2,884 |
Settlements | 3,100 | 2,500 | 5,650 | 5,000 |
Benefit cost | 2,482 | 1,031 | 4,413 | 2,062 |
Change in Benefit Obligation [Roll Forward] | ||||
Service cost | 458 | 435 | 915 | 870 |
Interest cost | 7,984 | 8,100 | 15,969 | 16,200 |
Post Retirement Benefits [Member] | ||||
Components of net periodic benefit expense [Abstract] | ||||
Service cost | 0 | 0 | 0 | 0 |
Interest cost | 142 | 259 | 283 | 518 |
Expected return on plan assets | 0 | 0 | 0 | 0 |
Amortization of prior service cost | (492) | (339) | (984) | (678) |
Amortization of gains (losses) | (116) | (144) | (232) | (288) |
Settlements | 0 | 0 | 0 | 0 |
Benefit cost | (466) | (224) | (933) | (448) |
Change in Benefit Obligation [Roll Forward] | ||||
Service cost | 0 | 0 | 0 | 0 |
Interest cost | $ 142 | $ 259 | $ 283 | $ 518 |
Benefit Plans (Details 1)
Benefit Plans (Details 1) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Summary of plan assets investments | ||
Fair value of plan assets | $ 630,535,000 | $ 653,013,000 |
Fair value of plan assets, Percentage | 100.00% | 100.00% |
Other [Member] | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 123,805,000 | $ 118,970,000 |
Fair value of plan assets, Percentage | 20.00% | 18.00% |
Huntington funds - money market [Member] | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 6,164,000 | $ 16,136,000 |
Fair value of plan assets, Percentage | 1.00% | 2.00% |
Corporate Obligations [Member] | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 205,362,000 | $ 218,077,000 |
Fair value of plan assets, Percentage | 33.00% | 33.00% |
U.S. Government Obligations [Member] | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 59,893,000 | $ 62,627,000 |
Fair value of plan assets, Percentage | 9.00% | 10.00% |
Mutual funds - fixed income | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 36,393,000 | $ 34,761,000 |
Fair value of plan assets, Percentage | 6.00% | 5.00% |
U.S. Government Agencies [Member] | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 7,008,000 | $ 7,445,000 |
Fair value of plan assets, Percentage | 1.00% | 1.00% |
Mutual Funds - equities | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 154,152,000 | $ 147,191,000 |
Fair value of plan assets, Percentage | 24.00% | 23.00% |
Huntington funds - equity funds [Member] | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 25,564,000 | $ 37,920,000 |
Fair value of plan assets, Percentage | 4.00% | 6.00% |
ExchangeTradedFundsMember | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 7,034,000 | $ 6,840,000 |
Fair value of plan assets, Percentage | 1.00% | 1.00% |
Limited Partnerships [Member] | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 5,160,000 | $ 3,046,000 |
Fair value of plan assets, Percentage | 1.00% | 1.00% |
Benefit Plans (Details 4)
Benefit Plans (Details 4) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Defined Contribution Plan Disclosure | ||||
Defined Contribution Plan, Cost Recognized | $ 8,078,000 | $ 8,810,000 | $ 15,523,000 | $ 14,914,000 |
SupplementalExecutiveRetirementPlanAndSupplementalRetirementIncomePlan | 578,000 | 487,000 | 1,157,000 | 963,000 |
BenefitCost | $ 8,656,000 | $ 9,297,000 | $ 16,680,000 | $ 15,877,000 |
Benefit Plans (Details Textuals
Benefit Plans (Details Textuals) | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2015Y | Jun. 30, 2015USD ($) | Dec. 31, 2014 | |
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||
Fair value of plan assets, Percentage | 100.00% | 100.00% | 100.00% |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | |||
Match - Base pay contributed to the plan | Matched participant contributions up to first 4% | ||
BasePayContributedToPlanProfitSharing | Profit-sharing contribution equal to first 1% participants’ 2014 base pay was awarded. | ||
Pension Benefits [Member] | |||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||
Average duration of plan assets investment in bonds, years | 12 years 2 months 15 days | ||
Estimated Life Of Benefit Obligations | 12 years 9 months 18 days | ||
Post Retirement Benefits [Member] | |||
Benefit Plans (Textuals) [Abstract] | |||
Employees retirement age for health care and life insurance benefits under unfunded defined benefit post-retirement plan | Y | 55 | ||
DeferredCompensationArrangementWithIndividualRequisiteServicePeriod | 10 years | ||
PlanAmendementMeasurementReductionInLiability | $ 5,200,000 | ||
Equity Securities [Member] | |||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||
Defined Benefit Plan, Actual Plan Asset Allocations | 50.00% | 50.00% | |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 20.00% | ||
Defined Benefit Plan, Target Plan Assets Allocation Range Maximum | 50.00% | ||
Covered Bonds [Member] | |||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||
Defined Benefit Plan, Actual Plan Asset Allocations | 49.00% | 49.00% | |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 50.00% | ||
Defined Benefit Plan, Target Plan Assets Allocation Range Maximum | 80.00% | ||
Cash and Cash Equivalents [Member] | |||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||
Defined Benefit Plan, Actual Plan Asset Allocations | 1.00% | 1.00% |
Fair Values of Assets and Lia74
Fair Values of Assets and Liabilities (Recurring basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets measured at fair value on a recurring basis | ||
Trading account securities | $ 59,146 | $ 42,191 |
Available-for-sale and other securities | 10,254,871 | 9,384,670 |
Liabilities measured at fair value on a recurring basis | ||
Short-term borrowings | (16,037) | (2,295) |
Level 2 [Member] | ||
Liabilities measured at fair value on a recurring basis | ||
Short-term borrowings | (16,037) | |
Recurring Basis [Member] | ||
Assets measured at fair value on a recurring basis | ||
Mortgage loans held for sale | 453,489 | 354,888 |
Trading account securities | 59,146 | 42,191 |
Available-for-sale and other securities | 9,922,776 | 9,053,111 |
Automobile loans | 3,998 | 10,590 |
MSR's | 20,681 | 22,786 |
Derivative assets | 377,629 | 352,642 |
Liabilities measured at fair value on a recurring basis | ||
Derivatives | 293,144 | 284,255 |
Other liabilities | 16,037 | |
Recurring Basis [Member] | U.S. Treasury [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 12,600 | 5,452 |
Recurring Basis [Member] | Federal agencies - mortgage backed securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 6,161,270 | 5,322,701 |
Recurring Basis [Member] | Federal agencies: Other agencies [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 8,506 | 2,857 |
Available-for-sale and other securities | 329,184 | 351,543 |
Recurring Basis [Member] | Municipal securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 4,182 | 5,098 |
Available-for-sale and other securities | 2,118,365 | 1,868,569 |
Recurring Basis [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 38,004 | 41,926 |
Recurring Basis [Member] | Asset-backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 791,317 | 955,998 |
Recurring Basis [Member] | Covered Bonds [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis [Member] | Corporate debt [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 454,584 | 486,176 |
Recurring Basis [Member] | Other securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 46,458 | 34,236 |
Available-for-sale and other securities | 17,452 | 20,746 |
Recurring Basis [Member] | Level 1 [Member] | ||
Assets measured at fair value on a recurring basis | ||
Mortgage loans held for sale | 0 | 0 |
Trading account securities | 32,908 | 33,121 |
Available-for-sale and other securities | 26,155 | 22,882 |
Automobile loans | 0 | 0 |
MSR's | 0 | 0 |
Derivative assets | 0 | 0 |
Liabilities measured at fair value on a recurring basis | ||
Derivatives | 0 | 0 |
Other liabilities | 0 | |
Recurring Basis [Member] | Level 1 [Member] | U.S. Treasury [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 12,600 | 5,452 |
Recurring Basis [Member] | Level 1 [Member] | Federal agencies - mortgage backed securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 0 | 0 |
Recurring Basis [Member] | Level 1 [Member] | Federal agencies: Other agencies [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 0 | 0 |
Recurring Basis [Member] | Level 1 [Member] | Municipal securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 0 | 0 |
Recurring Basis [Member] | Level 1 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis [Member] | Level 1 [Member] | Asset-backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis [Member] | Level 1 [Member] | Covered Bonds [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis [Member] | Level 1 [Member] | Corporate debt [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis [Member] | Level 1 [Member] | Other securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 32,908 | 33,121 |
Available-for-sale and other securities | 13,555 | 17,430 |
Recurring Basis [Member] | Level 2 [Member] | ||
Assets measured at fair value on a recurring basis | ||
Mortgage loans held for sale | 453,489 | 354,888 |
Trading account securities | 26,238 | 9,070 |
Available-for-sale and other securities | 8,048,276 | 7,499,434 |
Automobile loans | 0 | 0 |
MSR's | 0 | 0 |
Derivative assets | 469,106 | 449,775 |
Liabilities measured at fair value on a recurring basis | ||
Derivatives | 313,377 | 335,524 |
Short-term borrowings | (2,295) | |
Recurring Basis [Member] | Level 2 [Member] | U.S. Treasury [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 0 | 0 |
Recurring Basis [Member] | Level 2 [Member] | Federal agencies - mortgage backed securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 6,161,270 | 5,322,701 |
Recurring Basis [Member] | Level 2 [Member] | Federal agencies: Other agencies [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 8,506 | 2,857 |
Available-for-sale and other securities | 329,184 | 351,543 |
Recurring Basis [Member] | Level 2 [Member] | Municipal securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 4,182 | 5,098 |
Available-for-sale and other securities | 401,520 | 450,976 |
Recurring Basis [Member] | Level 2 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 8,575 | 11,462 |
Recurring Basis [Member] | Level 2 [Member] | Asset-backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 689,246 | 873,260 |
Recurring Basis [Member] | Level 2 [Member] | Covered Bonds [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis [Member] | Level 2 [Member] | Corporate debt [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 454,584 | 486,176 |
Recurring Basis [Member] | Level 2 [Member] | Other securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 13,550 | 1,115 |
Available-for-sale and other securities | 3,897 | 3,316 |
Recurring Basis [Member] | Level 3 [Member] | ||
Assets measured at fair value on a recurring basis | ||
Mortgage loans held for sale | 0 | 0 |
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 1,848,345 | 1,530,795 |
Automobile loans | 3,998 | 10,590 |
MSR's | 20,681 | 22,786 |
Derivative assets | 6,399 | 4,064 |
Liabilities measured at fair value on a recurring basis | ||
Derivatives | 1,233 | 704 |
Other liabilities | 0 | |
Recurring Basis [Member] | Level 3 [Member] | U.S. Treasury [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 0 | 0 |
Recurring Basis [Member] | Level 3 [Member] | Federal agencies - mortgage backed securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 0 | 0 |
Recurring Basis [Member] | Level 3 [Member] | Federal agencies: Other agencies [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 0 | 0 |
Recurring Basis [Member] | Level 3 [Member] | Municipal securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 1,716,845 | 1,417,593 |
Recurring Basis [Member] | Level 3 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 29,429 | 30,464 |
Recurring Basis [Member] | Level 3 [Member] | Asset-backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 102,071 | 82,738 |
Recurring Basis [Member] | Level 3 [Member] | Covered Bonds [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis [Member] | Level 3 [Member] | Corporate debt [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis [Member] | Level 3 [Member] | Other securities [Member] | ||
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 Lia75
Fair Values of Assets and Liabilities (Level 3 rollforward) (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
MSRs [Member] | ||||
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | $ 20,455 | $ 30,628 | $ 22,786 | $ 34,236 |
Total gains/losses: | ||||
Included in earnings | (226) | 3,881 | 2,105 | 7,489 |
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 | 20,681 | 26,747 | 20,681 | 26,747 |
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 | 226 | (3,881) | (2,105) | (7,489) |
Derivative Instruments [Member] | ||||
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 7,825 | 3,700 | 3,360 | 2,390 |
Total gains/losses: | ||||
Included in earnings | 1,780 | (2,957) | (3,221) | (4,632) |
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 | (879) | (461) | (1,415) | (826) |
Balance, end of period | 5,166 | 6,196 | 5,166 | 6,196 |
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 | (1,780) | 2,957 | 3,221 | 4,632 |
Municipal securities [Member] | ||||
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 1,635,808 | 734,378 | 1,417,593 | 654,537 |
Total gains/losses: | ||||
Included in earnings | 0 | 0 | 0 | 0 |
Included in OCI | (2,677) | 14,061 | 1,315 | 6,789 |
Purchases | 99,031 | 501,094 | 342,028 | 581,278 |
Sales | 0 | 0 | 0 | 0 |
Repayments | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (20,671) | (14,956) | (41,461) | (22,571) |
Balance, end of period | 1,716,845 | 1,206,455 | 1,716,845 | 1,206,455 |
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 | 2,677 | (14,061) | (1,315) | (6,789) |
Private label CMO [Member] | ||||
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 30,072 | 31,897 | 30,464 | 32,140 |
Total gains/losses: | ||||
Included in earnings | (11) | (7) | (27) | (17) |
Included in OCI | (505) | (249) | (523) | (500) |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Repayments | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (1,159) | (520) | (1,585) | (1,024) |
Balance, end of period | 29,429 | 31,633 | 29,429 | 31,633 |
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 | 505 | 249 | 523 | 500 |
Asset-backed Securities [Member] | ||||
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 89,155 | 109,969 | 82,738 | 107,419 |
Total gains/losses: | ||||
Included in earnings | (6) | (15) | (6) | (37) |
Included in OCI | (14,351) | (2,887) | (21,863) | (14,429) |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Repayments | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (1,441) | (6,410) | (2,536) | (15,424) |
Balance, end of period | 102,071 | 106,461 | 102,071 | 106,461 |
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 | 14,351 | 2,887 | 21,863 | 14,430 |
Automobile Loan [Member] | ||||
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 6,495 | 37,268 | 10,590 | 52,286 |
Total gains/losses: | ||||
Included in earnings | 213 | 201 | 426 | 452 |
Included in OCI | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | (6,166) | 0 |
Sales | 0 | 0 | 0 | 0 |
Repayments | (2,284) | (11,569) | 0 | (26,336) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Balance, end of period | 3,998 | 25,498 | 3,998 | 25,498 |
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 | $ (213) | $ (201) | $ (426) | $ (452) |
Fair Values of Assets and Lia76
Fair Values of Assets and Liabilities (Level 3 classification of gains/losses) (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
MSRs [Member] | ||||
Classification of gains and losses in earnings: | ||||
Mortgage banking income (loss) | $ 226 | $ (3,881) | $ (2,105) | $ (7,489) |
Securities gains (losses) | 0 | 0 | 0 | 0 |
Interest and fee income | 0 | 0 | 0 | 0 |
Noninterest income | 0 | 0 | 0 | 0 |
Total | 226 | (3,881) | (2,105) | (7,489) |
Derivative Instrument Asset, Net [Member] | ||||
Classification of gains and losses in earnings: | ||||
Mortgage banking income (loss) | (1,780) | 2,957 | 3,221 | 4,632 |
Securities gains (losses) | 0 | 0 | 0 | 0 |
Interest and fee income | 0 | 0 | 0 | 0 |
Noninterest income | 0 | 0 | 0 | 0 |
Total | (1,780) | 2,957 | 3,221 | 4,632 |
Municipal securities [Member] | ||||
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 |
Total | 0 | 0 | 0 | 0 |
Private label CMO [Member] | ||||
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 | 11 | 7 | 27 | 17 |
Noninterest income | 0 | 0 | 0 | 0 |
Total | 11 | 7 | 27 | 17 |
Asset-backed Securities [Member] | ||||
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 | 6 | 15 | 6 | 37 |
Noninterest income | 0 | 0 | 0 | 0 |
Total | 6 | 15 | 6 | 37 |
Automobile Loan [Member] | ||||
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 | (213) | (244) | (426) | (576) |
Noninterest income | 0 | 43 | 0 | 124 |
Total | $ (213) | $ (201) | $ (426) | $ (452) |
Fair Values of Assets and Lia77
Fair Values of Assets and Liabilities (Fair value option) (Details 3) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Mortgages Held For Sale | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Mortgages Held-for-sale, Fair Value Disclosure | $ 453,489 | $ 354,888 |
Mortgages Held For Sale, Unpaid Principal | 442,306 | 340,070 |
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables | 11,183 | 14,818 |
Automobile Loans | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 3,998 | 10,590 |
Loans Receivable, Unpaid Principal | 3,856 | 10,022 |
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables | 142 | 568 |
Securitization Trust Notes Payable | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Long-term Debt, Fair Value | 0 | 0 |
Long-term Debt, Unpaid Principal | 0 | 0 |
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments | $ 0 | $ 0 |
Fair Values of Assets and Lia78
Fair Values of Assets and Liabilities (Fair value option-changes in fair value) (Details 4) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Mortgages Held For Sale | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ (6,559) | $ (5,378) | $ (5,557) | $ 7,497 |
Automobile Loans | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (213) | (201) | (426) | (452) |
Fair Value, Option, Credit Risk, Gains (Losses) on Assets | 5 | 251 | 70 | 573 |
Securitization Trust Notes Payable | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Values of Assets and Lia79
Fair Values of Assets and Liabilities (Non-recurring/fair values of financial instruments) (Details 5) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | ||
Financial Assets: | ||||
Trading account securities | $ 59,146 | $ 59,146 | $ 42,191 | |
Loans held for sale | [1] | 548,054 | 548,054 | 416,327 |
Available-for-sale and other securities | 10,254,871 | 10,254,871 | 9,384,670 | |
Held-to-maturity securities, Total | 3,304,160 | 3,304,160 | 3,379,905 | |
Net loans and direct financing leases | 48,152,759 | 48,152,759 | 47,050,530 | |
Financial Liabilities: | ||||
Deposits | 53,473,179 | 53,473,179 | 51,732,151 | |
Short-term borrowings | 1,511,444 | 1,511,444 | 2,397,101 | |
Long-term borrowings | 5,854,584 | 5,854,584 | 4,335,962 | |
Carrying Amount [Member] | ||||
Financial Assets: | ||||
Cash and short-term assets | 1,451,378 | 1,451,378 | 1,285,124 | |
Trading account securities | 59,146 | 59,146 | 42,191 | |
Loans held for sale | 548,054 | 548,054 | 416,327 | |
Available-for-sale and other securities | 10,254,871 | 10,254,871 | 9,384,670 | |
Held-to-maturity securities, Total | 3,304,160 | 3,304,160 | 3,379,905 | |
Net loans and direct financing leases | 48,152,759 | 48,152,759 | 47,050,530 | |
Derivatives | 377,629 | 377,629 | 352,642 | |
Financial Liabilities: | ||||
Deposits | 53,473,179 | 53,473,179 | 51,732,151 | |
Short-term borrowings | 1,511,444 | 1,511,444 | 2,397,101 | |
Long-term borrowings | 5,854,584 | 5,854,584 | 4,335,962 | |
Derivatives | 293,144 | 293,144 | 284,255 | |
Fair Value [Member] | ||||
Financial Assets: | ||||
Cash and short-term assets | 1,451,378 | 1,451,378 | 1,285,124 | |
Trading account securities | 59,146 | 59,146 | 42,191 | |
Loans held for sale | 548,054 | 548,054 | 416,327 | |
Available-for-sale and other securities | 10,254,871 | 10,254,871 | 9,384,670 | |
Held-to-maturity securities, Total | 3,309,479 | 3,309,479 | 3,382,715 | |
Net loans and direct financing leases | 46,421,778 | 46,421,778 | 45,110,406 | |
Derivatives | 377,629 | 377,629 | 352,642 | |
Financial Liabilities: | ||||
Deposits | 53,835,268 | 53,835,268 | 52,454,804 | |
Short-term borrowings | 1,511,444 | 1,511,444 | 2,397,101 | |
Long-term borrowings | 5,830,328 | 5,830,328 | 4,286,304 | |
Derivatives | 293,144 | 293,144 | 284,255 | |
Fair Value [Member] | Level 1 [Member] | ||||
Financial Assets: | ||||
Loans held for sale | 0 | 0 | 0 | |
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 [Member] | Level 2 [Member] | ||||
Financial Assets: | ||||
Loans held for sale | 0 | 0 | 0 | |
Held-to-maturity securities, Total | 3,309,479 | 3,309,479 | 3,382,715 | |
Net loans and direct financing leases | 0 | 0 | 0 | |
Financial Liabilities: | ||||
Deposits | 50,117,029 | 50,117,029 | 48,183,798 | |
Short-term borrowings | 0 | 0 | 0 | |
Long-term borrowings | 0 | 0 | 0 | |
Fair Value [Member] | Level 3 [Member] | ||||
Financial Assets: | ||||
Loans held for sale | 0 | 0 | 0 | |
Held-to-maturity securities, Total | 0 | 0 | 0 | |
Net loans and direct financing leases | 46,421,778 | 46,421,778 | 45,110,406 | |
Financial Liabilities: | ||||
Deposits | 3,718,239 | 3,718,239 | 4,271,006 | |
Short-term borrowings | 1,511,444 | 1,511,444 | 2,397,101 | |
Long-term borrowings | 5,830,328 | 5,830,328 | 4,286,304 | |
Fair Value [Member] | Total Estimated Fair Value [Member] | ||||
Financial Assets: | ||||
Loans held for sale | 0 | 0 | 0 | |
Held-to-maturity securities, Total | 3,309,479 | 3,309,479 | 3,382,715 | |
Net loans and direct financing leases | 46,421,778 | 46,421,778 | 45,110,406 | |
Financial Liabilities: | ||||
Deposits | 53,835,268 | 53,835,268 | 52,454,804 | |
Short-term borrowings | 1,511,444 | 1,511,444 | 2,397,101 | |
Long-term borrowings | 5,830,328 | 5,830,328 | $ 4,286,304 | |
Nonrecurring Basis [Member] | ||||
Assets measured at fair value on a nonrecurring basis | ||||
Fair value, Impaired loans | 86,199 | 86,199 | ||
Gain/(Losses), Impaired loans | (4,350) | |||
Fair value, Accrued income and other assets | 29,232 | 29,232 | ||
Gain/(Losses), Accrued income and other assets | 3,263 | |||
Nonrecurring Basis [Member] | Level 1 [Member] | ||||
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 [Member] | Level 2 [Member] | ||||
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 [Member] | Level 3 [Member] | ||||
Assets measured at fair value on a nonrecurring basis | ||||
Fair value, Impaired loans | 86,199 | 86,199 | ||
Gain/(Losses), Impaired loans | 5,171 | |||
Fair value, Accrued income and other assets | 29,232 | $ 29,232 | ||
Gain/(Losses), Accrued income and other assets | $ 1,430 | |||
[1] | Amounts represent loans for which Huntington has elected the fair value option. |
Fair Values of Assets and Lia80
Fair Values of Assets and Liabilities (Significant unobservable Level 3 inputs) (Details 6) | 3 Months Ended | 12 Months Ended |
Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) | |
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | $ 10,254,871,000 | $ 9,384,670,000 |
MSRs [Member] | Maximum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | ||
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 | 900 |
Net costs to service | $ 120 | $ 79 |
MSRs [Member] | Minimum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 5.00% | 7.00% |
Spread over forward interest rate swap rates | 325 | 228 |
Net costs to service | $ 26 | $ 21 |
MSRs [Member] | Weighted Average [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 14.00% | 16.00% |
Spread over forward interest rate swap rates | 597 | 546 |
Net costs to service | $ 47 | $ 40 |
Derivative Instruments [Member] | Maximum [Member] | Market Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Net market price | 18.50% | 17.50% |
Estimated pull thru % | 94.00% | 91.00% |
Derivative Instruments [Member] | Minimum [Member] | Market Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Net market price | (4.80%) | (5.10%) |
Estimated pull thru % | 50.00% | 38.00% |
Derivative Instruments [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Net market price | 1.40% | 1.70% |
Estimated pull thru % | 78.00% | 75.00% |
Municipal securities [Member] | Maximum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Discount rate | 3.80% | 4.90% |
Municipal securities [Member] | Minimum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Discount rate | 0.50% | 50.00% |
Municipal securities [Member] | Weighted Average [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Discount rate | 2.60% | 2.50% |
Private label CMO [Member] | Maximum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 32.60% | 32.60% |
Probability of default | 4.00% | 4.00% |
Loss severity | 64.00% | 64.00% |
Discount rate | 4.00% | 7.20% |
Private label CMO [Member] | Minimum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 12.00% | 13.60% |
Probability of default | 0.10% | 0.10% |
Loss severity | 0.00% | 0.00% |
Discount rate | 2.70% | 2.70% |
Private label CMO [Member] | Weighted Average [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 20.00% | 20.70% |
Probability of default | 0.70% | 0.70% |
Loss severity | 34.80% | 33.90% |
Discount rate | 6.00% | 6.00% |
Asset-backed Securities [Member] | Maximum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | ||
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 [Member] | Minimum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Discount rate | 4.30% | 4.30% |
Cumulative prepayment rate | 0.00% | 0.00% |
Cumulative default | 1.80% | 1.90% |
Loss given default | 85.00% | 20.00% |
Cure given deferral | 0.00% | 0.00% |
Asset-backed Securities [Member] | Weighted Average [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Discount rate | 5.80% | 7.30% |
Cumulative prepayment rate | 8.90% | 10.10% |
Cumulative default | 14.40% | 15.90% |
Loss given default | 96.00% | 94.40% |
Cure given deferral | 41.70% | 32.60% |
Automobile Loan [Member] | Maximum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 154.20% | 79.20% |
Discount rate | 5.00% | 5.00% |
Life of pool cumulative losses | 2.10% | 210.00% |
Automobile Loan [Member] | Minimum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 154.20% | 79.20% |
Discount rate | 0.20% | 0.30% |
Life of pool cumulative losses | 2.10% | 210.00% |
Automobile Loan [Member] | Weighted Average [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | ||
Quantitative information about level 3 fair value measurements | ||
Constant prepayment rate (CPR) | 154.20% | 79.20% |
Discount rate | 2.30% | 1.50% |
Life of pool cumulative losses | 2.10% | 210.00% |
Derivative Financial Instrume81
Derivative Financial Instruments (Asset and liability management) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Notional Amount Of Derivatives [Abstract] | ||
Derivative, Notional Amount | $ 600,000 | |
Cash flow hedging [Member] | ||
Notional Amount Of Derivatives [Abstract] | ||
Derivative, Notional Amount | $ 9,248,500 | |
Fair Value Hedging [Member] | ||
Notional Amount Of Derivatives [Abstract] | ||
Derivative, Notional Amount | 4,579,100 | |
Loan [Member] | Cash flow hedging [Member] | ||
Notional Amount Of Derivatives [Abstract] | ||
Derivative, Notional Amount | 9,248,500 | |
Deposits [Member] | Fair Value Hedging [Member] | ||
Notional Amount Of Derivatives [Abstract] | ||
Derivative, Notional Amount | 69,100 | |
Subordinated notes | Fair Value Hedging [Member] | ||
Notional Amount Of Derivatives [Abstract] | ||
Derivative, Notional Amount | 475,000 | |
Other long-term debt | Fair Value Hedging [Member] | ||
Notional Amount Of Derivatives [Abstract] | ||
Derivative, Notional Amount | $ 4,035,000 |
Derivative Financial Instrume82
Derivative Financial Instruments (Asset and liability management) (Details Add Info) - Jun. 30, 2015 $ in Thousands | USD ($)Y |
Additional information about the interest rate swaps used in companies Asset and Liability Management | |
Notional Amount Of Interest Rate Derivatives | $ 13,827,600 |
Average Maturity (years) | Y | 1.9 |
Fair Value | $ 75,100 |
Weighted-Average Rate Receive | 1.07% |
Weighted-Average Rate Pay | 0.27% |
Asset conversion swaps - Receive Fixed - Generic [Member] | |
Additional information about the interest rate swaps used in companies Asset and Liability Management | |
Notional Amount Of Interest Rate Derivatives | $ 9,248,500 |
Average Maturity (years) | Y | 1.45 |
Fair Value | $ 10,249 |
Weighted-Average Rate Receive | 0.80% |
Weighted-Average Rate Pay | 0.27% |
Asset Conversion Swaps Pay Fixed Generic [Member] | |
Additional information about the interest rate swaps used in companies Asset and Liability Management | |
Notional Amount Of Interest Rate Derivatives | $ 0 |
Average Maturity (years) | Y | 0 |
Fair Value | $ 0 |
Weighted-Average Rate Receive | 0.00% |
Weighted-Average Rate Pay | 0.00% |
Liability conversion swaps - Receive Fixed - Generic [Member] | |
Additional information about the interest rate swaps used in companies Asset and Liability Management | |
Notional Amount Of Interest Rate Derivatives | $ 4,579,100 |
Average Maturity (years) | Y | 2.91 |
Fair Value | $ 64,851 |
Weighted-Average Rate Receive | 1.61% |
Weighted-Average Rate Pay | 0.29% |
Liability Conversion Swaps - Receive Fixed - Callable | |
Additional information about the interest rate swaps used in companies Asset and Liability Management | |
Notional Amount Of Interest Rate Derivatives | $ 0 |
Average Maturity (years) | Y | 0 |
Fair Value | $ 0 |
Weighted-Average Rate Receive | 0.00% |
Weighted-Average Rate Pay | 0.00% |
Derivative Financial Instrume83
Derivative Financial Instruments (Hedging instruments) (Details 1) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accrued income and other assets [Member] | ||
Asset derivatives included in accrued income and other assets | ||
Interest rate contracts designated as hedging instruments | $ 75,745 | $ 53,114 |
Interest rate contracts not designated as hedging instruments | 172,693 | 183,610 |
Foreign exchange contracts not designated as hedging instruments | 39,477 | 32,798 |
Commodities contracts not designated as hedging instruments | 174,510 | 180,218 |
Total derivative assets | 462,425 | 449,740 |
Accrued expenses and other liabilities [Member] | ||
Liability derivatives included in accrued expenses and other liabilities | ||
Interest rate contracts designated as hedging instruments | 645 | 12,648 |
Interest rate contracts not designated as hedging instruments | 102,403 | 110,627 |
Foreign exchange contracts not designated as hedging instruments | 38,251 | 29,754 |
Commodities contracts not designated as hedging instruments | 171,967 | 179,180 |
Total derivative liabilities | $ 313,266 | $ 332,209 |
Derivative Financial Instrume84
Derivative Financial Instruments (Cash flow hedges) (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Cash flow hedging [Member] | ||||
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) | $ (539) | $ 17,714 | $ 17,756 | $ 19,537 |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | 138 | 813 | 261 | 3,705 |
Hedged Other long term debt [Member] | Interest expense subordinated notes and other long term debt [Member] | ||||
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 | 7,382 | (9,948) | (12,263) | (3,474) |
Hedged Subordinated notes [Member] | Interest expense subordinated notes and other long term debt [Member] | ||||
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 | 7,362 | (3,015) | 4,131 | (4,081) |
Hedged Deposits [Member] | Interest expense deposits [Member] | ||||
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 | 236 | 228 | 450 | 494 |
FHLB Advances [Member] | Interest expense other borrowings [Member] | Cash flow hedging [Member] | ||||
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 | 0 | 0 |
Loan [Member] | Interest and fee income loans and leases [Member] | Cash flow hedging [Member] | ||||
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) | (539) | 17,714 | 17,756 | 19,537 |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | 118 | 895 | 250 | 3,787 |
Investment securities [Member] | Interest and fee income investment securities [Member] | Cash flow hedging [Member] | ||||
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) | 20 | (82) | 11 | (82) |
Deposits [Member] | Interest expense deposits [Member] | ||||
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 | (245) | (238) | (458) | (505) |
Deposits [Member] | Interest expense deposits [Member] | Cash flow hedging [Member] | ||||
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 | 0 | 0 |
Subordinated notes | Interest expense subordinated notes and other long term debt [Member] | ||||
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 | (7,362) | 3,015 | (4,131) | 4,081 |
Subordinated notes | Interest expense subordinated notes and other long term debt [Member] | Cash flow hedging [Member] | ||||
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 | 0 | 0 |
Other long-term debt | Interest expense subordinated notes and other long term debt [Member] | ||||
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 | (8,129) | 10,303 | 11,896 | 6,252 |
Other long-term debt | Interest expense subordinated notes and other long term debt [Member] | Cash flow hedging [Member] | ||||
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 | $ 0 | $ 0 |
Derivative Financial Instrume85
Derivative Financial Instruments (Fair value hedges) (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
FHLB Advances [Member] | ||||
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 | $ 0 | $ 0 | $ 0 | $ 0 |
Loan [Member] | ||||
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 | $ 133 | $ (161) | $ (30) | $ (29) |
Derivative Financial Instrume86
Derivative Financial Instruments (BS Offsetting) (Details 4) - Deriviative Contract [Member] - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Derivative Asset, Fair Value, Amount Offset Against Collateral [Abstract] | ||
Cash collateral received | $ (3,688) | $ (1,095) |
Derivative Assets [Abstract] | ||
Gross amounts offset in the statement of financial position | 115,745 | 128,161 |
Gross amounts not offset in the statement of financial position - financial instruments | 38,544 | 27,744 |
Derivative Assets | 335,397 | 323,803 |
Derivative Asset, Fair Value, Net [Abstract] | ||
Gross amounts of recognized assets | 493,374 | 480,803 |
Net amounts of assets presented in the statement of financial position | 377,629 | 352,642 |
Derivative Liability, Fair Value, Amount Offset Against Collateral [Abstract] | ||
Cash collateral given | (268) | (111) |
Derivative Liabilities [Abstract] | ||
Gross amounts offset in the statement of financial position | (39,335) | (78,937) |
Gross amounts not offset in the statement of financial position - financial instruments | 59,024 | 78,654 |
Derivative Liabilities | 233,852 | 205,490 |
Derivative Liability, Fair Value, Net [Abstract] | ||
Gross amounts of recognized liabilities | 332,479 | 363,192 |
Net amounts of assets presented in the statement of financial position | $ 293,144 | $ 284,255 |
Derivative Financial Instrume87
Derivative Financial Instruments (Mortgage banking activities) (Details 6) - Derivative used in Mortgage Banking Activities [Member] - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Derivative assets: | ||
Total derivative assets | $ 13,080 | $ 4,099 |
Derivative liabilities: | ||
Total derivative liabilities | (1,344) | (4,019) |
Net derivative asset (liability) | 11,736 | 80 |
Interest rate lock agreements [Member] | ||
Derivative assets: | ||
Total derivative assets | 6,399 | 4,064 |
Derivative liabilities: | ||
Total derivative liabilities | (788) | (259) |
Forward trades and options [Member] | ||
Derivative assets: | ||
Total derivative assets | 6,681 | 35 |
Derivative liabilities: | ||
Total derivative liabilities | $ (556) | $ (3,760) |
Derivative Financial Instrume88
Derivative Financial Instruments (Details Textuals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Derivative Financial Instruments (Textuals) [Abstract] | |||||
Credit risks from interest rate swaps used for trading purposes | $ 200,000 | $ 200,000 | $ 219,300 | ||
Purchase of interest rate caps and derivative financial instruments, notional value | 600,000 | ||||
Total notional amount corresponds to trading assets, fair value | 1,800 | 1,800 | |||
Additional Derivative Financial Instruments (Textuals) [Abstract] | |||||
Aggregate credit risk, net of collateral | 17,100 | 17,100 | 19,500 | ||
Investment securities and cash collateral pledged by Huntington | 79,900 | 79,900 | |||
Investment securities and cash collateral pledged to Huntington | 140,100 | 140,100 | |||
Increase (decrease) to net interest income due to derivative adjustment | 26,200 | $ 24,700 | 50,900 | $ 49,300 | |
Expected after-tax unrealized gains on cash flow hedging derivatives reclassified to earnings | 18,100 | 18,100 | |||
Swap [Member] | |||||
Derivative Financial Instruments (Textuals) [Abstract] | |||||
Total derivative liabilities | 400 | 400 | |||
Derivative used in trading activity [Member] | |||||
Derivative Financial Instruments (Textuals) [Abstract] | |||||
Net derivative asset (liability) | 74,000 | 74,000 | 74,400 | ||
Derivative financial instruments used by Huntington on behalf of customers including offsetting derivatives, notional value | 15,300,000 | 15,300,000 | 14,400,000 | ||
Derivative used in Mortgage Banking Activities [Member] | |||||
Derivative Financial Instruments (Textuals) [Abstract] | |||||
Net derivative asset (liability) | 11,736 | 11,736 | 80 | ||
Purchase of interest rate caps and derivative financial instruments, notional value | 700,000 | 700,000 | |||
Gains (losses) related to derivative instruments Included in total MSR | (8,500) | ||||
Total derivative liabilities | $ 1,344 | $ 1,344 | $ 4,019 |
Derivative Financial Instrume89
Derivative Financial Instruments (Credit Derivatives) - OtherCreditDerivativesMember - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Notional Amount Of Derivatives [Abstract] | ||
DerivativeAssetNotionalAmount | $ 416.5 | $ 456.7 |
CreditRiskDerivativesAtFairValueNetAbstract | ||
CreditRiskDerivativeAssetsAtFairValue | $ 7.2 | $ 7.2 |
Variable Interest Entities (Con
Variable Interest Entities (Consolidated and Unconsolidated) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
Jun. 30, 2015 | Jun. 30, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2013 | |
Assets | |||||||||||
Cash | $ 1,379,969,000 | $ 1,379,969,000 | $ 1,220,565,000 | ||||||||
Loans and leases | 48,752,301,000 | 48,752,301,000 | 47,655,726,000 | ||||||||
Allowance for loan and lease losses | (599,542,000) | $ (635,101,000) | (599,542,000) | $ (635,101,000) | (605,196,000) | $ (605,126,000) | $ (631,918,000) | $ (647,870,000) | |||
Net loans and leases | 48,152,759,000 | 48,152,759,000 | 47,050,530,000 | ||||||||
Accrued income and other assets | 1,983,143,000 | 1,983,143,000 | 1,807,208,000 | ||||||||
Total assets | 68,845,648,000 | 68,845,648,000 | 66,298,010,000 | ||||||||
Liabilities | |||||||||||
Long-term borrowings | 5,854,584,000 | 5,854,584,000 | 4,335,962,000 | ||||||||
Accrued interest and other liabilities | 1,510,183,000 | 1,510,183,000 | 1,504,626,000 | ||||||||
Total liabilities | $ 62,349,390,000 | 62,349,390,000 | 59,969,840,000 | ||||||||
Variable Interest Entities (Textuals) [Abstract] | |||||||||||
Maximum year to defer payment of interest on debenture | not exceeding five years | ||||||||||
Net sales of Low Income Housing Tax Credit Partnership investments | 0 | ||||||||||
Gain (loss) on net sales of Low Income Housing Tax Credit Partnership investments | 0 | ||||||||||
Total of automobile loans transferred in securitization transactions | $ 800,000,000 | $ 1,300,000,000 | $ 1,000,000,000 | ||||||||
Impairment Losses On Tax Credit Investments | $ 0 | 0 | 0 | 0 | |||||||
Consolidated Trusts [Member] | |||||||||||
Assets | |||||||||||
Cash | 0 | 0 | 0 | ||||||||
Loans and leases | 260,438,000 | 260,438,000 | 0 | ||||||||
Allowance for loan and lease losses | 0 | 0 | 0 | ||||||||
Net loans and leases | 260,438,000 | 260,438,000 | 0 | ||||||||
Accrued income and other assets | 229,000 | 229,000 | 243,000 | ||||||||
Total assets | 260,667,000 | 260,667,000 | 243,000 | ||||||||
Liabilities | |||||||||||
Long-term borrowings | 219,099,000 | 219,099,000 | 0 | ||||||||
Accrued interest and other liabilities | 229,000 | 229,000 | 243,000 | ||||||||
Total liabilities | 219,328,000 | 219,328,000 | 243,000 | ||||||||
Equity | |||||||||||
Beneficial interest owned by third party | 41,339,000 | 41,339,000 | 0 | ||||||||
Franklin 2009 Trust [Member] | |||||||||||
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 | 229,000 | 229,000 | 243,000 | ||||||||
Total assets | 229,000 | 229,000 | 243,000 | ||||||||
Liabilities | |||||||||||
Long-term borrowings | 0 | 0 | 0 | ||||||||
Accrued interest and other liabilities | 229,000 | 229,000 | 243,000 | ||||||||
Total liabilities | 229,000 | 229,000 | 243,000 | ||||||||
Equity | |||||||||||
Beneficial interest owned by third party | 0 | 0 | 0 | ||||||||
Huntington Technology Funding Trust Series 2012A [Member] | |||||||||||
Assets | |||||||||||
Cash | 0 | 0 | |||||||||
Loans and leases | 50,844,000 | 50,844,000 | |||||||||
Allowance for loan and lease losses | 0 | 0 | |||||||||
Net loans and leases | 50,844,000 | 50,844,000 | |||||||||
Accrued income and other assets | 0 | 0 | |||||||||
Total assets | 50,844,000 | 50,844,000 | |||||||||
Liabilities | |||||||||||
Long-term borrowings | 42,103,000 | 42,103,000 | |||||||||
Accrued interest and other liabilities | 0 | 0 | |||||||||
Total liabilities | 42,103,000 | 42,103,000 | |||||||||
Equity | |||||||||||
Beneficial interest owned by third party | 8,741,000 | 8,741,000 | |||||||||
Huntington Technology Funding Trust Series 2014A [Member] | |||||||||||
Assets | |||||||||||
Cash | 0 | 0 | |||||||||
Loans and leases | 209,594,000 | 209,594,000 | |||||||||
Allowance for loan and lease losses | 0 | 0 | |||||||||
Net loans and leases | 209,594,000 | 209,594,000 | |||||||||
Accrued income and other assets | 0 | 0 | |||||||||
Total assets | 209,594,000 | 209,594,000 | |||||||||
Liabilities | |||||||||||
Long-term borrowings | 176,996,000 | 176,996,000 | |||||||||
Accrued interest and other liabilities | 0 | 0 | |||||||||
Total liabilities | 176,996,000 | 176,996,000 | |||||||||
Equity | |||||||||||
Beneficial interest owned by third party | 32,598,000 | 32,598,000 | |||||||||
Unconsolidated Trusts [Member] | |||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||
Total assets | 545,071,000 | 545,071,000 | 527,513,000 | ||||||||
Total liabilities | 582,050,000 | 582,050,000 | 557,696,000 | ||||||||
Maximum exposure to loss | 531,152,000 | 531,152,000 | 513,594,000 | ||||||||
Trust Preferred Securities Total [Member] | |||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||
Total assets | 13,919,000 | 13,919,000 | 13,919,000 | ||||||||
Total liabilities | 317,090,000 | 317,090,000 | 317,075,000 | ||||||||
Maximum exposure to loss | 0 | 0 | 0 | ||||||||
2015-1 Automobile Trust [Member] | |||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||
Total assets | 10,838,000 | 10,838,000 | |||||||||
Total liabilities | 0 | 0 | |||||||||
Maximum exposure to loss | 10,838,000 | 10,838,000 | |||||||||
2012-2 Automobile Trust [Member] | |||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||
Total assets | 1,836,000 | 1,836,000 | 3,220,000 | ||||||||
Total liabilities | 0 | 0 | 0 | ||||||||
Maximum exposure to loss | 1,836,000 | 1,836,000 | 3,220,000 | ||||||||
2012-1 Automobile Trust [Member] | |||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||
Total assets | 895,000 | 895,000 | 2,136,000 | ||||||||
Total liabilities | 0 | 0 | 0 | ||||||||
Maximum exposure to loss | 895,000 | 895,000 | 2,136,000 | ||||||||
2011 Automobile Trust [Member] | |||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||
Total assets | 386,000 | 386,000 | 944,000 | ||||||||
Total liabilities | 0 | 0 | 0 | ||||||||
Maximum exposure to loss | 386,000 | 386,000 | 944,000 | ||||||||
Tower Hill Securities [Member] | |||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||
Total assets | 46,688,000 | 46,688,000 | 55,611,000 | ||||||||
Total liabilities | 65,000,000 | 65,000,000 | 65,000,000 | ||||||||
Maximum exposure to loss | 46,688,000 | 46,688,000 | 55,611,000 | ||||||||
Low Income Housing Tax Credit Partnerships [Member] | |||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||
Total assets | 397,297,000 | 397,297,000 | 368,283,000 | ||||||||
Total liabilities | 174,573,000 | 174,573,000 | 154,861,000 | ||||||||
Maximum exposure to loss | 397,297,000 | 397,297,000 | 368,283,000 | ||||||||
Affortable Housing Tax Credit Investments [Abstract] | |||||||||||
Affordable housing tax credit investments | 625,465,000 | 625,465,000 | 576,381,000 | ||||||||
Amortization | 228,167,000 | 208,098,000 | |||||||||
Net affordable housing tax credit investments | 397,298,000 | 397,298,000 | 368,283,000 | ||||||||
Unfunded commitments | 174,573,000 | 174,573,000 | 154,861,000 | ||||||||
Tax credits and other tax benefits recognized | 14,434,000 | 13,744,000 | 30,181,000 | 28,061,000 | |||||||
Proportional Amortization Method [Member] | |||||||||||
Affortable Housing Tax Credit Investments [Abstract] | |||||||||||
Tax Credit Amortization Expense | 11,218,000 | 9,518,000 | 22,292,000 | 18,877,000 | |||||||
Equity Method [Member] | |||||||||||
Affortable Housing Tax Credit Investments [Abstract] | |||||||||||
Tax Credit Investment Losses | 147,000 | $ 223,000 | 294,000 | $ 446,000 | |||||||
Other investments | |||||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | |||||||||||
Total assets | 84,050,000 | 84,050,000 | 83,400,000 | ||||||||
Total liabilities | 25,387,000 | 25,387,000 | 20,760,000 | ||||||||
Maximum exposure to loss | $ 84,050,000 | $ 84,050,000 | $ 83,400,000 |
Variable Interest Entities (Tru
Variable Interest Entities (Trust preferred Securities) (Details 1) - USD ($) $ in Thousands | 3 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | ||
Summary of Outstanding Trust Preferred Securities | |||
Principal amount of subordinated note/ debenture issued to trust | $ 317,090 | ||
Investment in unconsolidated subsidiary | $ 13,919 | ||
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |||
Variable rate basis | three month LIBOR | ||
Unconsolidated Trusts [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Maximum exposure to loss | $ 531,152 | $ 513,594 | |
Sky Financial Capital Trust IV [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Interest rate on Trust Preferred Securities | [1] | 1.67% | |
Principal amount of subordinated note/ debenture issued to trust | [2] | $ 74,320 | |
Investment in unconsolidated subsidiary | $ 2,320 | ||
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |||
Rate spread over three month LIBOR | 1.40% | ||
Sky Financial Capital Trust III [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Interest rate on Trust Preferred Securities | [1] | 1.68% | |
Principal amount of subordinated note/ debenture issued to trust | [2] | $ 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 [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Interest rate on Trust Preferred Securities | [3] | 0.91% | |
Principal amount of subordinated note/ debenture issued to trust | [2] | $ 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 [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Interest rate on Trust Preferred Securities | [4] | 0.98% | |
Principal amount of subordinated note/ debenture issued to trust | [2] | $ 111,816 | |
Investment in unconsolidated subsidiary | $ 6,186 | ||
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |||
Rate spread over three month LIBOR | 0.70% | ||
Trust Preferred Securities Total [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Maximum exposure to loss | $ 0 | 0 | |
2011 Automobile Trust [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Maximum exposure to loss | 386 | 944 | |
Tower Hill Securities [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Maximum exposure to loss | 46,688 | 55,611 | |
Low Income Housing Tax Credit Partnerships [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Maximum exposure to loss | 397,297 | 368,283 | |
2012-1 Automobile Trust [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Maximum exposure to loss | 895 | 2,136 | |
2012-2 Automobile Trust [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Maximum exposure to loss | $ 1,836 | $ 3,220 | |
Camco Trust [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Interest rate on Trust Preferred Securities | [5] | 2.72% | |
Principal amount of subordinated note/ debenture issued to trust | [5] | $ 4,196 | |
Investment in unconsolidated subsidiary | $ 155 | ||
[1] | Variable effective rate at June 30, 2015, based on three month LIBOR + 1.40. | ||
[2] | Represents the principal amount of debentures issued to each trust, including unamortized original issue discount. | ||
[3] | Variable effective rate at June 30, 2015, based on three month LIBOR + 0.625. | ||
[4] | Variable effective rate at June 30, 2015, based on three month LIBOR + 0.70. | ||
[5] | Variable effective rate (including impact of purchase accounting accretion) at June 30, 2015, based on three month LIBOR + 1.33. |
Variable Interest Entities (Ear
Variable Interest Entities (Early adoption) (Details 2) - Variable Interest Entity, Classification [Domain] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Consolidated Balance Sheets [Abstract] | |||||
Other Assets | $ 1,983,143 | $ 1,983,143 | $ 1,807,208 | ||
Retained (deficit) earnings | (804,884) | (804,884) | $ (1,052,324) | ||
Consolidated Statements of Income [Abstract] | |||||
Noninterest Income | 281,773 | $ 250,067 | 513,396 | $ 498,552 | |
Income Tax Expense (Benefit) | 64,057 | 57,475 | 118,063 | 109,572 | |
Net Income (Loss) Attributable to Parent | $ 196,206 | $ 164,619 | $ 362,060 | $ 313,762 |
Commitments and Contingent Li93
Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Commercial [Member] | ||
Contract amounts of various commitments to extend credit | ||
Contract amount represents credit risk | $ 10,898,478 | $ 11,181,522 |
Consumer [Member] | ||
Contract amounts of various commitments to extend credit | ||
Contract amount represents credit risk | 8,053,179 | 7,579,632 |
Commercial Real Estate [Member] | ||
Contract amounts of various commitments to extend credit | ||
Contract amount represents credit risk | 925,688 | 908,112 |
Standby Letters of Credit [Member] | ||
Contract amounts of various commitments to extend credit | ||
Contract amount represents credit risk | $ 487,366 | $ 497,457 |
Commitments and Contingent Li94
Commitments and Contingent Liabilities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 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 | $ 6,900 | $ 4,400 | |
Maturity period of Commercial letters of credit | no longer than 90 days | ||
Percentage of Outstanding standby letters of credit collateralized | 81.00% | ||
Commitments and Contingent Liabilities (Textuals) [Abstract] | |||
Commitments to sell residential real estate loans | $ 807,900 | 545,000 | |
Maturity period of forward contracts relating mortgage banking business | less than one year | ||
Gross unrecognized tax benefit | $ 0 | 1,200 | $ 2,800 |
Total interest accrued on the unrecognized tax benefits | 0 | 100 | $ 100 |
Aggregate range of reasonably possible losses current legal proceedings, Min | 0 | ||
Aggregate range of reasonably possible losses current legal proceedings, Max | 105,000 | ||
Recovery from the bank as a form of unjust enrichment | 1,900 | ||
Direct damage claimed by Plantiffs | $ 32,000 | ||
Additional consequential damages by plantiffs | excess of $20.0 million | ||
Bankruptcy trustee alleging for the amount | $ 70,000 | ||
Preferential transfer alleged by bankruptcy trustee | 1,200 | ||
Fraudulent transfers alleged by Teleservices bankruptcy trustee | 73,000 | ||
Credit related to recoveries in preference actions filed | 4,000 | ||
Bankruptcy trustee unable to recover | 900 | ||
Bankruptcy Court recommended judgment amount in Cyberco case, principal | 71,800 | ||
Bankruptcy Court recommended judgment amount in Cyberco case, interest | 8,800 | ||
Standby Letters of Credit [Member] | |||
Additional Commitments and Contingent Liabilities (Textuals) [Abstract] | |||
Outstanding standby letters of credit | 487,366 | $ 497,457 | |
Risk Level, Low [Member] | |||
Additional Commitments and Contingent Liabilities (Textuals) [Abstract] | |||
Outstanding standby letters of credit | 161,000 | ||
Risk Level, Medium [Member] | |||
Additional Commitments and Contingent Liabilities (Textuals) [Abstract] | |||
Outstanding standby letters of credit | 327,000 | ||
Risk Level, High [Member] | |||
Additional Commitments and Contingent Liabilities (Textuals) [Abstract] | |||
Outstanding standby letters of credit | $ 0 |
Other Regulatory Matters (Detai
Other Regulatory Matters (Details Textuals) $ in Millions | Jun. 30, 2015USD ($) |
Banking and Thrift [Abstract] | |
StockRepurchaseProgramAuthorizedAmount | $ 366 |
Parent Company Financial Statem
Parent Company Financial Statements (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Assets | |||||
Cash and cash equivalents | $ 1,379,969 | $ 1,218,453 | $ 1,220,565 | $ 1,001,132 | $ 1,220,565 |
Accrued interest receivable and other assets | 1,983,143 | 1,807,208 | |||
Assets | 68,845,648 | 66,298,010 | |||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||
Short-term borrowings | 1,511,444 | 2,397,101 | |||
Long-term borrowings | 5,854,584 | 4,335,962 | |||
Accrued expenses and other liabilities | 1,510,183 | 1,504,626 | |||
Liabilities | 62,349,390 | 59,969,840 | |||
Shareholders' equity | 6,496,258 | 6,240,791 | 6,328,170 | ||
Total liabilities and shareholders' equity | 68,845,648 | $ 66,298,010 | |||
Interest from | |||||
Other | 44,565 | 35,975 | 71,656 | 66,877 | |
Expense | |||||
Personnel costs | 282,135 | 260,600 | 547,051 | 510,077 | |
Other | 41,215 | 33,429 | 77,277 | 84,474 | |
Total Expense | 491,777 | 458,636 | 950,634 | 918,757 | |
Income (loss) before income taxes and equity in undistributed net income of subsidiaries | 260,263 | 222,094 | 480,123 | 423,334 | |
Income taxes | 64,057 | 57,475 | 118,063 | 109,572 | |
Increase (decrease) in undistributed net income of: | |||||
Net Income (Loss) Attributable to Parent | 196,206 | 164,619 | 362,060 | 313,762 | |
Operating activities | |||||
Net Income (Loss) Attributable to Parent | 196,206 | 164,619 | 362,060 | 313,762 | |
Adjustments to reconcile net income to net cash provided by operating activities | |||||
Depreciation and amortization | 167,957 | 152,867 | |||
Other, net | (27,225) | 0 | |||
Net cash provided by (used for) operating activities | 86,095 | 382,599 | |||
Investing activities | |||||
Net cash provided by (used for) investing activities | (1,521,903) | (3,347,255) | |||
Financing activities | |||||
Payment of borrowings | (888,979) | 1,278,468 | |||
Dividends paid on preferred stock | (15,933) | (15,929) | |||
Dividends paid on common stock | (97,310) | (82,584) | |||
Repurchase of common stock | (150,847) | (246,989) | |||
Proceeds from Issuance of Common Stock | 0 | 2,597 | |||
Other, net | 10,586 | 406 | |||
Net cash provided by (used for) financing activities | 1,595,212 | 3,181,977 | |||
Cash and Cash Equivalents, Period Increase (Decrease) | 159,404 | 217,321 | |||
Cash and cash equivalents at beginning of period | 1,220,565 | 1,001,132 | |||
Cash and cash equivalents at end of period | $ 1,379,969 | $ 1,218,453 | 1,379,969 | 1,218,453 | |
Supplemental disclosures: | |||||
Interest paid | $ 67,381 | $ 69,677 |
Segment Reporting (Details)
Segment Reporting (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015USD ($)segment | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Business Segment Financial Information | |||||
Net interest income | $ 490,686 | $ 460,048 | $ 958,371 | $ 897,554 | |
Provision for credit losses | 20,419 | 29,385 | 41,010 | 54,015 | |
Noninterest income | 281,773 | 250,067 | 513,396 | 498,552 | |
Noninterest expense | 491,777 | 458,636 | 950,634 | 918,757 | |
Income taxes | 64,057 | 57,475 | 118,063 | 109,572 | |
Net Income (Loss) Attributable to Parent | 196,206 | 164,619 | 362,060 | 313,762 | |
Segment Disclosure of Assets and Deposit | |||||
Assets | 68,845,648 | 68,845,648 | $ 66,298,010 | ||
Deposits | $ 53,473,179 | 53,473,179 | 51,732,151 | ||
Segment Reporting (Textuals) [Abstract] | |||||
Number of reporting segments | segment | 5 | ||||
Retail & Business Banking [Member] | |||||
Business Segment Financial Information | |||||
Net interest income | $ 256,921 | 228,343 | 505,571 | 448,184 | |
Provision for credit losses | 19,401 | 33,974 | 26,553 | 41,434 | |
Noninterest income | 112,938 | 107,533 | 208,696 | 200,495 | |
Noninterest expense | 245,839 | 516,525 | 481,114 | ||
Noninterest expense excluding goodwill impairment | 260,344 | ||||
Income taxes | 31,540 | 19,622 | 59,916 | 44,146 | |
Net Income (Loss) Attributable to Parent | 58,574 | 36,441 | 111,273 | 81,985 | |
Segment Disclosure of Assets and Deposit | |||||
Assets | 15,685,507 | 15,685,507 | 15,146,857 | ||
Deposits | 29,983,334 | 29,983,334 | 29,350,255 | ||
Commercial Banking [Member] | |||||
Business Segment Financial Information | |||||
Net interest income | 94,413 | 76,980 | 169,331 | 147,923 | |
Provision for credit losses | (3,027) | 8,499 | 3,807 | 20,046 | |
Noninterest income | 70,344 | 50,305 | 125,237 | 100,621 | |
Noninterest expense | 65,453 | 132,790 | 125,873 | ||
Noninterest expense excluding goodwill impairment | 76,373 | ||||
Income taxes | 31,994 | 18,667 | 55,290 | 35,919 | |
Net Income (Loss) Attributable to Parent | 59,417 | 34,666 | 102,681 | 66,706 | |
Segment Disclosure of Assets and Deposit | |||||
Assets | 16,232,517 | 16,232,517 | 15,043,477 | ||
Deposits | 10,908,387 | 10,908,387 | 11,184,566 | ||
AFCRE [Member] | |||||
Business Segment Financial Information | |||||
Net interest income | 95,042 | 97,304 | 190,204 | 185,884 | |
Provision for credit losses | 3,498 | (17,542) | 2,115 | (26,149) | |
Noninterest income | 11,574 | 9,047 | 16,249 | 13,540 | |
Noninterest expense | 38,690 | 74,033 | 76,853 | ||
Noninterest expense excluding goodwill impairment | 37,855 | ||||
Income taxes | 22,842 | 29,821 | 45,607 | 52,052 | |
Net Income (Loss) Attributable to Parent | 42,421 | 55,382 | 84,698 | 96,668 | |
Segment Disclosure of Assets and Deposit | |||||
Assets | 16,517,075 | 16,517,075 | 16,027,910 | ||
Deposits | 1,518,905 | 1,518,905 | 1,377,921 | ||
RBHPCG [Member] | |||||
Business Segment Financial Information | |||||
Net interest income | 27,751 | 25,722 | 54,575 | 51,160 | |
Provision for credit losses | 1,596 | (145) | 4,241 | 2,174 | |
Noninterest income | 37,963 | 46,870 | 78,388 | 89,984 | |
Noninterest expense | 60,025 | 121,848 | 116,048 | ||
Noninterest expense excluding goodwill impairment | 63,220 | ||||
Income taxes | 314 | 4,449 | 2,406 | 8,023 | |
Net Income (Loss) Attributable to Parent | 584 | 8,263 | 4,468 | 14,899 | |
Segment Disclosure of Assets and Deposit | |||||
Assets | 3,453,395 | 3,453,395 | 3,871,020 | ||
Deposits | 7,265,046 | 7,265,046 | 6,727,892 | ||
Home Lending [Member] | |||||
Business Segment Financial Information | |||||
Net interest income | 16,353 | 14,349 | 31,630 | 27,377 | |
Provision for credit losses | (1,049) | 4,599 | 4,294 | 16,510 | |
Noninterest income | 31,976 | 18,821 | 50,634 | 39,107 | |
Noninterest expense | 32,843 | 77,427 | 67,966 | ||
Noninterest expense excluding goodwill impairment | 41,639 | ||||
Income taxes | 2,709 | (1,495) | 190 | (6,297) | |
Net Income (Loss) Attributable to Parent | 5,030 | (2,777) | 353 | (11,695) | |
Segment Disclosure of Assets and Deposit | |||||
Assets | 4,076,919 | 4,076,919 | 3,949,247 | ||
Deposits | 339,631 | 339,631 | 326,841 | ||
Treasury/Other [Member] | |||||
Business Segment Financial Information | |||||
Net interest income | 206 | 17,350 | 7,060 | 37,026 | |
Provision for credit losses | 0 | 0 | 0 | 0 | |
Noninterest income | 16,978 | 17,491 | 34,192 | 54,805 | |
Noninterest expense | 15,786 | 28,011 | 50,903 | ||
Noninterest expense excluding goodwill impairment | 12,346 | ||||
Income taxes | (25,342) | (13,589) | (45,346) | (24,271) | |
Net Income (Loss) Attributable to Parent | 30,180 | $ 32,644 | 58,587 | $ 65,199 | |
Segment Disclosure of Assets and Deposit | |||||
Assets | 12,880,235 | 12,880,235 | 12,259,499 | ||
Deposits | $ 3,457,876 | $ 3,457,876 | $ 2,764,676 |
Business Combinations (Detail T
Business Combinations (Detail Textuals) - USD ($) | Mar. 31, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Mar. 02, 2014 | Mar. 30, 2012 |
Business Acquisition Line Items | ||||||
Goodwill | $ 678,369,000 | $ 522,541,000 | ||||
Business Combination, Bargain Purchase, Gain Recognized, Amount | 0 | $ 0 | ||||
Fidelity Bank [Member] | ||||||
Business Acquisition Line Items | ||||||
Business Combinatio nRecognized Identifiable Assets Acquired And Liabilities Assumed Financial Assets | $ 523,900,000 | |||||
Camco Financial [Member] | ||||||
Business Acquisition Line Items | ||||||
Business Combinatio nRecognized Identifiable Assets Acquired And Liabilities Assumed Financial Assets | $ 559,400,000 | |||||
Macquarie Equipment Finance [Member] | ||||||
Business Acquisition Line Items | ||||||
BusinessAcquisitionNameOfAcquiredEntity | Macquarie Equipment Finance, Inc. | |||||
Acquisition Date | Mar. 31, 2015 | |||||
PaymentsToAcquireBusinessesGross | $ 457,800,000 | |||||
Business Combinatio nRecognized Identifiable Assets Acquired And Liabilities Assumed Financial Assets | $ 838,600,000 | |||||
Total assets acquired as of acquisition date | 1,100,000,000 | |||||
Total liabilities acquired as of acquisition date | 616,600,000 | |||||
Goodwill | $ 155,800,000 |
Quarterly Results of Operations
Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Selected Quarterly Financial Information [Abstract] | ||||
Interest income | $ 529,795 | $ 495,322 | $ 1,031,891 | $ 967,777 |
Interest Expense | 39,109 | 35,274 | 73,520 | 70,223 |
Net interest income | 490,686 | 460,048 | 958,371 | 897,554 |
Provision for credit losses | 20,419 | 29,385 | 41,010 | 54,015 |
Noninterest Income | 281,773 | 250,067 | 513,396 | 498,552 |
Noninterest Expense | 491,777 | 458,636 | 950,634 | 918,757 |
Income before income taxes | 260,263 | 222,094 | 480,123 | 423,334 |
Provision for income taxes | 64,057 | 57,475 | 118,063 | 109,572 |
Net income | 196,206 | 164,619 | 362,060 | 313,762 |
Dividends on preferred shares | 7,968 | 7,963 | 15,933 | 15,927 |
Net income applicable to common shareholders | $ 188,238 | $ 156,656 | $ 346,127 | $ 297,835 |
Earnings Per Share, Basic | $ 0.23 | $ 0.19 | $ 0.43 | $ 0.36 |
Earnings Per Share, Diluted | $ 0.23 | $ 0.19 | $ 0.42 | $ 0.36 |
Uncategorized Items - hban-2015
Label | Element | Value |
Gains (Losses) on Extinguishment of Debt | us-gaap_GainsLossesOnExtinguishmentOfDebt | $ 0 |
Gains (Losses) on Extinguishment of Debt | us-gaap_GainsLossesOnExtinguishmentOfDebt | 0 |
Sensitivity Analysis Amortization Carrying Method [Member] | Automobile Loan [Member] | ||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | 1,203 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | $ 496 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Prepayment Speed, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInPrepaymentSpeedPercent | 14.62% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Prepayment Speed, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInPrepaymentSpeedPercent | 15.60% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Discount Rate, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInDiscountRatePercent | 5.00% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Discount Rate, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInDiscountRatePercent | 5.00% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | $ 15 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | 2 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | (4) |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | 30 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | 305 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | 622 |
Sensitivity Analysis Amortization Carrying Method [Member] | Commercial Loan [Member] | ||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | 419 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | $ 569 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Prepayment Speed, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInPrepaymentSpeedPercent | 5.60% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Prepayment Speed, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInPrepaymentSpeedPercent | 7.70% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Discount Rate, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInDiscountRatePercent | 15.00% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Discount Rate, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInDiscountRatePercent | 15.00% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | $ 547 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | 563 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | 1,071 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | 1,102 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | 211 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | 287 |
Sensitivity Analysis Amortization Carrying Method [Member] | Residential Mortgage [Member] | ||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | 10,164 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | $ 9,525 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Prepayment Speed, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInPrepaymentSpeedPercent | 9.80% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Prepayment Speed, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInPrepaymentSpeedPercent | 11.40% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Discount Rate, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInDiscountRatePercent | 8.56% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Discount Rate, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInDiscountRatePercent | 9.69% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | $ 4,343 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | 4,776 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | 8,403 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | 9,240 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | 4,935 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | 5,289 |
Sensitivity Analysis Fair Value Carrying Method [Member] | Residential Mortgage [Member] | ||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | 1,833 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed | $ 2,248 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Prepayment Speed, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInPrepaymentSpeedPercent | 13.60% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Prepayment Speed, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInPrepaymentSpeedPercent | 15.60% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Discount Rate, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInDiscountRatePercent | 5.46% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Other than 10 or 20 Percent Adverse Change in Discount Rate, Percent | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfOtherThan10Or20PercentAdverseChangeInDiscountRatePercent | 5.97% |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | $ 659 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate | 699 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | 1,277 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 20 Percent Adverse Change in Discount Rate | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate | 1,355 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | 1,176 |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of 10 Percent Adverse Change in Prepayment Speed | us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed | $ 955 |