Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 20, 2014 | Jan. 31, 2014 |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'HBHC | ' | ' |
Entity Registrant Name | 'HANCOCK HOLDING CO | ' | ' |
Entity Central Index Key | '0000750577 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | ' | 82,279,194 |
Entity Public Float | ' | $2.40 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Cash and due from banks | $348,440 | $448,491 |
Interest-bearing bank deposits | 267,236 | 1,498,985 |
Federal funds sold | 1,604 | 1,203 |
Securities available for sale, at fair value (amortized cost of $1,408,780 and $1,986,882) | 1,421,772 | 2,048,442 |
Securities held to maturity (fair value of $2,576,584 and $1,710,465) | 2,611,352 | 1,668,018 |
Loans held for sale | 24,515 | 50,605 |
Loans | 12,324,817 | 11,577,802 |
Less: allowance for loan losses | -133,626 | -136,171 |
Loans, net | 12,191,191 | 11,441,631 |
Property and equipment, net of accumulated depreciation of $172,798 and $160,592 | 432,346 | 477,864 |
Prepaid expense | 65,220 | 55,359 |
Other real estate, net | 76,668 | 101,442 |
Accrued interest receivable | 42,977 | 45,616 |
Goodwill | 625,675 | 628,877 |
Other intangible assets, net | 159,773 | 189,409 |
Life insurance contracts | 381,437 | 367,317 |
FDIC loss share receivable | 113,834 | 177,844 |
Deferred tax asset, net | 89,708 | 128,385 |
Other assets | 155,503 | 134,997 |
Total assets | 19,009,251 | 19,464,485 |
Deposits: | ' | ' |
Non-interest bearing demand | 5,530,253 | 5,624,127 |
Interest-bearing savings, NOW, money market and time | 9,830,263 | 10,120,061 |
Total deposits | 15,360,516 | 15,744,188 |
Short-term borrowings | 657,960 | 639,133 |
Long-term debt | 385,826 | 396,589 |
Accrued interest payable | 4,353 | 4,814 |
Other liabilities | 175,527 | 226,483 |
Total liabilities | 16,584,182 | 17,011,207 |
Stockholders' equity: | ' | ' |
Common stock-$3.33 par value per share; 350,000,000 shares authorized, 82,237,162 and 84,847,796 outstanding, respectively | 273,850 | 282,543 |
Capital surplus | 1,558,432 | 1,647,638 |
Retained earnings | 628,166 | 546,022 |
Accumulated other comprehensive (loss), net | -35,379 | -22,925 |
Total stockholders' equity | 2,425,069 | 2,453,278 |
Total liabilities and stockholders' equity | $19,009,251 | $19,464,485 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Securities available for sale, amortized cost | $1,408,780 | $1,986,882 |
Held to maturity securities | 2,576,584 | 1,710,465 |
Property and equipment, accumulated depreciation | $172,798 | $160,592 |
Common stock, par value per share | $3.33 | $3.33 |
Common stock, shares authorized | 350,000,000 | 350,000,000 |
Common stock, shares issued | 82,237,162 | 82,237,162 |
Common stock, shares outstanding | 84,847,796 | 84,847,796 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest income: | ' | ' | ' |
Loans, including fees | $630,764 | $668,387 | $499,721 |
Securities-taxable | 85,426 | 86,402 | 84,321 |
Securities-tax exempt | 4,621 | 5,841 | 6,031 |
Federal funds sold and other short term investments | 1,399 | 1,919 | 2,131 |
Total interest income | 722,210 | 762,549 | 592,204 |
Interest expense: | ' | ' | ' |
Deposits | 24,175 | 32,741 | 55,691 |
Short-term borrowings | 4,542 | 6,005 | 7,034 |
Long-term debt and other interest expense | 12,762 | 12,936 | 8,246 |
Total interest expense | 41,479 | 51,682 | 70,971 |
Net interest income | 680,731 | 710,867 | 521,233 |
Provision for loan losses | 32,734 | 54,192 | 38,732 |
Net interest income after provision for loan losses | 647,997 | 656,675 | 482,501 |
Noninterest income: | ' | ' | ' |
Service charges on deposit accounts | 79,000 | 78,246 | 55,265 |
Trust fees | 38,186 | 32,736 | 23,940 |
Bank card and ATM fees | 45,939 | 49,112 | 42,931 |
Investment and annuity fees | 19,574 | 18,033 | 15,016 |
Secondary mortgage market operations | 12,543 | 16,488 | 10,484 |
Insurance commissions and fees | 15,804 | 15,692 | 16,524 |
Other income | 34,992 | 41,888 | 42,267 |
Securities gains (losses), net | 105 | 1,552 | -91 |
Total noninterest income | 246,143 | 253,747 | 206,336 |
Noninterest expense: | ' | ' | ' |
Compensation expense | 291,225 | 293,783 | 234,071 |
Employee benefits | 65,257 | 72,401 | 52,531 |
Personnel expense | 356,482 | 366,184 | 286,602 |
Net occupancy expense | 48,854 | 54,467 | 43,220 |
Equipment expense | 20,026 | 24,097 | 17,524 |
Data processing expense | 48,367 | 49,935 | 43,069 |
Professional services expense | 39,357 | 57,457 | 69,931 |
Amortization of intangibles | 29,470 | 32,067 | 16,551 |
Telecommunications and postage | 17,432 | 21,437 | 18,514 |
Deposit insurance and regulatory fees | 14,914 | 14,902 | 12,980 |
Other real estate expense, net | 8,036 | 12,250 | 6,910 |
Other expense | 95,336 | 80,271 | 78,713 |
Total noninterest expense | 678,274 | 713,067 | 594,014 |
Income before income taxes | 215,866 | 197,355 | 94,823 |
Income taxes | 52,510 | 45,613 | 18,064 |
Net income | $163,356 | $151,742 | $76,759 |
Basic earnings per common share | $1.93 | $1.77 | $1.16 |
Diluted earnings per common share | $1.93 | $1.75 | $1.15 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $163,356 | $151,742 | $76,759 |
Other comprehensive income before income taxes | ' | ' | ' |
Net change in unrealized (loss) gain | -22,621 | 8,140 | -42,655 |
Reclassification adjustment for net losses realized and included in earnings | 8,527 | 6,327 | 2,923 |
Amortization of unrealized net gain on securities transferred to held-to-maturity | -6,371 | -8,752 | ' |
Other comprehensive income (loss) before income taxes | -20,465 | 5,715 | -39,732 |
Income tax expense (benefit) | -8,011 | 2,130 | -13,841 |
Other comprehensive (loss) income net of income taxes | -12,454 | 3,585 | -25,891 |
Comprehensive income | $150,902 | $155,327 | $50,868 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss), net [Member] |
In Thousands, except Share data | |||||
Balance at Dec. 31, 2010 | $856,548 | $122,855 | $263,484 | $470,828 | ($619) |
Balance, shares at Dec. 31, 2010 | ' | 36,893,276 | ' | ' | ' |
Net income | 76,759 | ' | ' | 76,759 | ' |
Other comprehensive income | -25,891 | ' | ' | ' | -25,891 |
Cash dividends declared | -70,617 | ' | ' | -70,617 | ' |
Common stock issued in stock offering | 213,994 | 23,170 | 190,824 | ' | ' |
Common stock issued in stock offering, shares | ' | 6,958,143 | ' | ' | ' |
Common stock issued in business combination | 1,308,044 | 135,845 | 1,172,199 | ' | ' |
Common stock issued in business combination, shares | ' | 40,794,261 | ' | ' | ' |
Common stock activity, long-term incentive plan | 8,326 | 199 | 8,127 | ' | ' |
Common stock activity, long-term incentive plan | ' | 59,816 | ' | ' | ' |
Balance at Dec. 31, 2011 | 2,367,163 | 282,069 | 1,634,634 | 476,970 | -26,510 |
Balance, Shares at Dec. 31, 2011 | ' | 84,705,496 | ' | ' | ' |
Net income | 151,742 | ' | ' | 151,742 | ' |
Other comprehensive income | 3,585 | ' | ' | ' | 3,585 |
Cash dividends declared | -82,690 | ' | ' | -82,690 | ' |
Common stock activity, long-term incentive plan | 13,478 | 474 | 13,004 | ' | ' |
Common stock activity, long-term incentive plan | ' | 142,300 | ' | ' | ' |
Balance at Dec. 31, 2012 | 2,453,278 | 282,543 | 1,647,638 | 546,022 | -22,925 |
Balance, Shares at Dec. 31, 2012 | ' | 84,847,796 | ' | ' | ' |
Net income | 163,356 | ' | ' | 163,356 | ' |
Other comprehensive income | -12,454 | ' | ' | ' | -12,454 |
Cash dividends declared | -81,212 | ' | ' | -81,212 | ' |
Common stock activity, long-term incentive plan | 17,101 | 690 | 16,411 | ' | ' |
Common stock activity, long-term incentive plan | ' | 207,006 | ' | ' | ' |
Purchase of common stock | -115,000 | -9,383 | -105,617 | ' | ' |
Purchase of common stock, shares | ' | -2,817,640 | ' | ' | ' |
Balance at Dec. 31, 2013 | $2,425,069 | $273,850 | $1,558,432 | $628,166 | ($35,379) |
Balance, Shares at Dec. 31, 2013 | ' | 82,237,162 | ' | ' | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Cash dividends declared, per common share | $0.96 | $0.96 | $0.96 |
Retained Earnings [Member] | ' | ' | ' |
Cash dividends declared, per common share | $0.96 | $0.96 | $0.96 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net income | $163,356 | $151,742 | $76,759 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 32,063 | 32,856 | 24,605 |
Provision for loan losses | 32,734 | 54,192 | 38,732 |
Losses on other real estate owned | 4,329 | 8,353 | 4,922 |
Deferred tax expense | 40,920 | 32,465 | 8,703 |
Increase in cash surrender value of life insurance contracts | -11,223 | -12,807 | -12,169 |
(Gain) loss on sales of securities, net | -105 | -1,552 | 91 |
Writedowns on closed branch transfers to other real estate owned | 12,809 | 4,586 | ' |
Loss (gain) on disposal of other assets | 235 | 51 | -424 |
Net decrease (increase) in loans originated for sale | 29,103 | 21,991 | -1,560 |
Net amortization of securities premium/discount | 31,970 | 49,887 | 29,523 |
Amortization of intangible assets | 29,635 | 32,067 | 16,551 |
Stock-based compensation expense | 13,079 | 11,019 | 7,196 |
(Decrease) increase in interest payable and other liabilities | 29,553 | -58,289 | -99,986 |
Funds collected under FDIC loss share agreements | 61,765 | 114,976 | 181,753 |
Increase in FDIC loss share receivable | -9,117 | -50,284 | -65,502 |
(Increase) decrease in other assets | -724 | 52,155 | 63,956 |
Other, net | 13,150 | -376 | -104 |
Net cash provided by operating activities | 473,532 | 443,032 | 273,046 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' |
Proceeds from sales of securities available for sale | 178 | 48,336 | 342,864 |
Proceeds from maturities of securities available for sale | 592,147 | 1,081,193 | 998,726 |
Purchases of securities available for sale | -1,074,744 | -285,825 | -1,732,757 |
Proceeds from maturities of securities held to maturity | 503,654 | 432,331 | ' |
Purchases of securities held to maturity | -481,513 | -560,324 | ' |
Net (increase) decrease in interest-bearing bank deposits | 1,231,749 | -314,763 | -104,647 |
Net (increase) decrease in federal funds sold and short term investments | -401 | -1,006 | 281,639 |
Net (increase) decrease in loans | -834,933 | -507,530 | 86,057 |
Purchases of property, equipment and intangible assets | -32,029 | -42,979 | -72,975 |
Proceeds from sales of property and equipment | 1,698 | 6,270 | 9,326 |
Cash paid for acquisition, net of cash received | ' | ' | -74,736 |
Proceeds from sales of other real estate | 92,662 | 120,083 | 80,125 |
Net cash paid for divestiture of branches | ' | ' | -114,645 |
Other, net | -2,965 | 6,481 | ' |
Net cash (used in) investing activities | -4,497 | -17,733 | -301,023 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Net increase (decrease) in deposits | -383,672 | 30,609 | -65,298 |
Net increase (decrease) in short-term borrowings | 18,827 | -405,321 | 113,353 |
Repayments of long-term debt | -35,278 | -192,087 | -16,641 |
Issuance of long term debt | 24,515 | 232,720 | 150,317 |
Dividends paid | -81,212 | -82,690 | -70,617 |
Repurchase of common stock | -115,000 | ' | ' |
Proceeds from exercise of stock options | 2,734 | 2,014 | 1,129 |
Proceeds from stock offering | ' | ' | 213,994 |
Net cash provided by (used by) financing activities | -569,086 | -414,755 | 326,237 |
NET (DECREASE) INCREASE IN CASH AND DUE FROM BANKS | -100,051 | 10,544 | 298,260 |
CASH AND DUE FROM BANKS, BEGINNING | 448,491 | 437,947 | 139,687 |
CASH AND DUE FROM BANKS, ENDING | 348,440 | 448,491 | 437,947 |
SUPPLEMENTAL INFORMATION | ' | ' | ' |
Income taxes paid (refunded) | 24,052 | -24,237 | 24,529 |
Interest paid | 41,996 | 57,370 | 66,695 |
SUPPLEMENTAL INFORMATION FOR NON-CASH INVESTING AND FINANCING ACTIVITIES | ' | ' | ' |
Assets acquired in settlement of loans | 51,461 | 76,128 | 117,690 |
Transfers from available for sale securities to held to maturity securities | 1,039,979 | 1,523,585 | ' |
Fair value of assets acquired | ' | ' | 11,156,952 |
Liabilities assumed | ' | ' | -10,130,706 |
Net identifiable assets acquired | ' | ' | 1,026,246 |
Common stock issued in connection with acquisition | ' | ' | $1,308,044 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies and Recent Accounting Pronouncements | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Summary of Significant Accounting Policies and Recent Accounting Pronouncements | ' | |||
Note 1. Summary of Significant Accounting Policies and Recent Accounting Pronouncements | ||||
DESCRIPTION OF BUSINESS | ||||
Hancock Holding Company “the Company” or “Hancock” is a financial holding company headquartered in Gulfport, Mississippi and operating in the states of Mississippi, Louisiana, Alabama, Florida and Texas. The Company operates through two wholly-owned bank subsidiaries, Hancock Bank, Gulfport, Mississippi (Hancock Bank) and Whitney Bank, New Orleans, Louisiana (Whitney Bank). Hancock Bank and Whitney Bank are referred to collectively as the “Banks.” The Banks are community oriented and focus primarily on offering commercial, consumer and mortgage loans and deposit services to individuals and small to middle market businesses in their respective market areas. The Company’s operating strategy is to provide its customers with the financial sophistication and breadth of products of a regional bank, while successfully retaining the local appeal and level of service of a community bank. The Banks or their subsidiaries also offer trust services, investment services and insurance agency services. | ||||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||
The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the U.S. (U.S. GAAP) and those generally practiced within the banking industry. The following is a summary of the more significant accounting policies. | ||||
Basis of Presentation | ||||
The consolidated financial statements include the accounts of the Company and all other entities in which the Company has a controlling interest. Significant inter-company transactions and balances have been eliminated in consolidation. | ||||
Use of Estimates | ||||
The accounting principles the Company follows and the methods for applying these principles conform with U.S. GAAP and with general practices followed by the banking industry. These accounting principles and practices require management to make estimates and assumptions about future events that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from those estimates. | ||||
Fair Value Accounting | ||||
U.S. GAAP requires the use of fair values in determining the carrying values of certain assets and liabilities in the financial statements, as well as for specific disclosures about certain assets and liabilities. | ||||
Accounting guidance established a fair value hierarchy that prioritizes the inputs to these valuation techniques used to measure fair value giving preference to quoted prices in active markets (level 1) and the lowest priority to unobservable inputs such as a reporting entity’s own data or information or assumptions developed from this data (level 3). Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in markets that are not active, observable inputs other than quoted prices, such as interest rates and yield curves, and inputs that are derived principally from or corroborated by observable market data by correlation or other means. | ||||
Acquisition Accounting | ||||
Acquisitions are accounted for under the purchase method of accounting. Purchased assets, including identifiable intangibles, and assumed liabilities are recorded at their respective acquisition date fair values. If the fair value of net assets purchased exceeds the consideration given, a bargain purchase gain is recognized. If the consideration given exceeds the fair value of the net assets received, goodwill is recognized. Fair values are subject to refinement for up to one year after the closing date of an acquisition as information relative to closing date fair values becomes available. Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan losses. See the Acquired Loans section below for accounting policy regarding loans acquired in a business combination. | ||||
All identifiable intangible assets that are acquired in a business combination are recognized at fair value on the acquisition date. Identifiable intangible assets are recognized separately if they arise from contractual or other legal rights or if they are separable (i.e., capable of being sold, transferred, licensed, rented, or exchanged separately from the entity). | ||||
Securities | ||||
Securities are classified as trading, held to maturity or available for sale. Management determines the appropriate classification of debt and equity securities at the time of purchase and re-evaluates this classification periodically as conditions change that could require reclassification. | ||||
Available for sale securities are stated at fair value. Unrealized holding gains and unrealized holding losses, other than those determined to be other than temporary, are reported net of tax in other comprehensive income and in accumulated other comprehensive income until realized. | ||||
Securities that the Company both positively intends and has the ability to hold to maturity are classified as securities held to maturity and are carried at amortized cost. The intent and ability to hold are not considered satisfied when a security is available to be sold in response to changes in interest rates, prepayment rates, liquidity needs or other reasons as part of an overall asset/liability management strategy. | ||||
Premiums and discounts on securities, both those held to maturity and those available for sale, are amortized and accreted to income as an adjustment to the securities’ yields using the effective interest method. Realized gains and losses on securities, including declines in value judged to be other than temporary, are reported net as a component of noninterest income. The cost of securities sold is specifically identified for use in calculating realized gains and losses. | ||||
Loans | ||||
Originated loans | ||||
Loans originated for investment are reported at the principal balance outstanding net of unearned income. Interest on loans and accretion of unearned income, including deferred loan fees, are computed in a manner that approximates a level yield on recorded principal. Interest on loans is recognized in income as earned. | ||||
The accrual of interest on an originated loan is discontinued when, in management’s opinion, it is probable that the borrower will be unable to meet payment obligations as they become due, as well as when required by regulatory provisions. When accrual of interest is discontinued on a loan, all unpaid accrued interest is reversed and payments subsequently received are applied first to recover principal. Interest income is recognized for payments received after contractual principal has been satisfied. Loans are returned to accrual status when all the principal and interest contractually due are brought current and future payment performance is reasonably assured. | ||||
Acquired loans | ||||
Acquired loans are those loans that were purchased in the Whitney Holding Corporation acquisition on June 4, 2011. These loans were recorded at estimated fair value at the acquisition date with no carryover of the related allowance for loan losses. The acquired loans were segregated between those considered to be performing (“acquired-performing”) and those with evidence of credit deterioration (“acquired-impaired”) based on such factors as past due status, nonaccrual status and credit risk ratings (rated substandard or worse). The acquired loans were further segregated into loan pools designed to facilitate the development of expected cash flows to be used in estimating fair value. | ||||
Acquired-performing loans were segregated into pools based on characteristics such as loan type, credit risk ratings, and contractual interest rate and repayment terms. The major loan types included commercial and industrial loans not secured by real estate, real estate construction and land development loans, commercial real estate mortgages, residential mortgage loans, and consumer loans, with further segregation within certain loan types as needed. Expected cash flows, both principal and interest, from each pool were estimated based on key assumptions covering such factors as prepayments, default rates, and severity of loss given a default. These assumptions were developed using both Whitney Holding Corporation’s historical experience and the portfolio characteristics at acquisition as well as available market research. | ||||
The difference at the acquisition date between the fair value and the contractual amounts due of an acquired-performing loan pool (the “fair value discount”) is accreted into income over the estimated life of the pool. Acquired-performing loans are placed on nonaccrual status and considered and reported as nonperforming or past due using the same criteria applied to the originated portfolio. | ||||
In addition to those factors considered for acquired-performing loans, the acquired-impaired loans were segregated into pools by identifying loans with similar credit risk profiles and were based primarily on characteristics such as loan type and market area in which originated. Loan types included most of the major types used for the acquired-performing portfolio. The acquired-impaired loans that had been originated in Louisiana and Texas were further disaggregated from loans originated in Mississippi, Alabama and Florida, in recognition of the differences in general economic conditions affecting borrowers in these market areas. The fair value estimate for each pool of acquired performing and acquired-impaired loans was based on the estimate of expected cash flows from the pool discounted at prevailing market rates. | ||||
The excess of cash flows estimated to be collected from an acquired-impaired loan pool over the pool’s carrying value is referred to as the accretable yield and is recognized in interest income using an effective yield method over the remaining life of the loan pool. Each pool of acquired-impaired loans is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. Acquired-impaired loans in pools with an accretable yield and expected cash flows that are reasonably estimable are considered to be accruing and performing even though collection of contractual payments on loans within the pool may be in doubt, because the pool is the unit of accounting. Management recasts the estimate of cash flows expected to be collected on each acquired-impaired loan pool at each reporting date. If the present value of expected cash flows for a pool is less than its carrying value, impairment is recognized by an increase in the allowance for loan losses and a charge to the provision for loan losses. If the present value of expected cash flows for a pool is greater than its carrying value, any previously established allowance for loan losses is reversed and any remaining difference increases the accretable yield which will be taken into interest income over the remaining life of the loan pool. Acquired-impaired loans are generally not subject to individual evaluation for impairment and are not reported with impaired loans or troubled debt restructurings even if they would otherwise qualify for such treatment. | ||||
Covered loans and the related loss share receivable | ||||
The loans purchased in the 2009 acquisition of Peoples First Community Bank (Peoples First) are covered by two loss share agreements between the FDIC and the Company which afford the Company significant loss protection. These covered loans are accounted for as acquired-impaired loans as described above in the section on acquired loans. The Company treated all loans for the Peoples First acquisition under ASC 310-30 based on the significant amount of deteriorating and nonperforming loans comprised mainly of adjustable rate mortgages and home equity loans located in Florida. The loss share receivable is measured separately from the related covered loans as it is not contractually embedded in the loans and is not transferrable should the loans be sold. The fair value of the loss share receivable at acquisition was estimated by discounting expected reimbursements for losses from the loans covered by the loss share agreements, including appropriate consideration of possible true-up payments to the FDIC at the expiration of the agreements. | ||||
The loss share receivable is reviewed and updated prospectively as loss estimates related to the covered loan pools change. Increases in expected reimbursements under the loss sharing agreements will lead to an increase in the loss share receivable. A decrease in expected reimbursements is reflected first as a reversal of any previously recorded increase in the loss share receivable on the covered loan pool with the remainder reflected as a reduction in the loss share receivable’s accretion rate. Increases and decreases in the loss share receivable related to changes in loss estimates result in reductions in or additions to the provision for loan losses, which serves to offset the impact on the provision from impairments or impairment reversals recognized on the underlying covered loan pool. The excess (or shortfall) of expected claims as compared to the carrying value of the loss share receivable is accreted (amortized) into noninterest income over the shorter of the remaining life of the covered loan pool or the life of the loss share agreement. The impact on operations of a reduction in the loss share receivable’s accretion rate is associated with an increase in the accretable yield on the underlying loan pool. The indemnification asset is reduced as cash is received from the FDIC related to losses incurred on covered assets. | ||||
Loans Held for Sale | ||||
Residential mortgage loans originated for sale are classified as loans held for sale and carried at the lower of cost or market. Forward sales commitments on a best-efforts basis are entered into with third parties concurrent with rate lock commitments made to prospective borrowers. At times, management may decide to sell loans that were not originated for that purpose. Those loans would be reclassified as held for sale when that decision is made and also carried at the lower of cost or market. | ||||
Troubled Debt Restructurings | ||||
Troubled debt restructurings (TDRs) occur when a borrower is experiencing, or is expected to experience, financial difficulties in the near-term and a modification in loan terms is granted that would otherwise not have been considered. | ||||
Troubled debt restructurings can result in loans remaining on nonaccrual, moving to nonaccrual, or continuing to accrue, depending on the individual facts and circumstances of the borrower. All loans whose terms have been modified in a TDR, including both commercial and retail loans, are considered “impaired.” When measuring impairment on a TDR, the loan’s value is determined by either the present value of expected cash flows calculated using the loan’s effective interest rate before the restructuring or the fair value of the collateral if the loan is collateral dependent. If the value as determined is less than the recorded investment in the loan, the difference is charged-off through the allowance for loan and lease losses. Modified acquired-impaired loans are not removed from their accounting pool and accounted for as a TDR even if those loans would otherwise be deemed TDRs. | ||||
Allowance for Loan Losses | ||||
Originated loans | ||||
The ALLL is a valuation account available to absorb losses on loans. The ALLL is established and maintained at an amount sufficient to cover the estimated credit losses inherent in the loan and lease portfolios of the Company as of the date of the determination. Credit losses arise not only from credit risk, but also from other risks inherent in the lending process including, but not limited to, collateral risk, operational risk, concentration risk, and economic risk. As such, all related risks of lending are considered when assessing the adequacy of the allowance for loan and lease losses. Quarterly, management estimates the inherent losses in the portfolio based on a number of factors, including the Company’s past loan loss and delinquency experience, known and inherent risks in the portfolio, adverse situations that may affect the borrowers’ ability to repay, the estimated value of any underlying collateral and current economic conditions. | ||||
The analysis and methodology for estimating the ALLL include two primary elements. A loss rate analysis which incorporates a historical loss rate as updated for current conditions is used for loans collectively evaluated for impairment, and a specific reserve analysis is used for loans individually evaluated for impairment. | ||||
During the second quarter of 2013, management revised the methodology for the loss-rate analysis for the originated and acquired-performing loan portfolios due to the increased size and complexity of the Company’s commercial loan portfolio. The primary changes in the methodology were to segment loans with similar risk characteristics at a more granular level and to lengthen the period used for analyzing loss emergence and estimating loss factors. The changes were implemented as of April 1, 2013 and resulted in no material change in the total amount of the ALLL. Management made the following principal changes to the methodology during 2013: | ||||
• | Established a more granular stratification of the major loan segments to enhance the homogeneity of the loan classes. For the loss-rate analysis, the Company previously segmented loans into three primary groups—commercial, residential mortgage and consumer. The revised loan segments are commercial non-real estate, construction and land development, commercial real estate, residential mortgage and consumer. Both quantitative and qualitative factors are applied at the more detailed portfolio segments. | |||
• | Included portfolio risk ratings in loss-rate analysis. Commercial loans, commercial non-real estate, construction and land development, and commercial real estate are further subdivided by risk rating, while retail loans, residential mortgage and consumer are further subdivided by delinquency. Previously, the qualitative methodology incorporated risk ratings and delinquencies. | |||
• | Lengthened the loss emergence period. The Company uses an eighteen-month loss emergence period for commercial loans and a twelve-month loss emergence period for retail loans. The previous methodology also used a twelve-month loss emergence period for retail loans. Historical loss rates are calculated for each commercial segment using a weighted average of three eighteen-month periods over a fourteen quarter look-back period, and for each retail segment using a weighted average of three twelve-month periods over a twelve quarter look-back period. Previously, historical loss rates for all loan segments were calculated using an average of three twelve month loss emergence periods over a three year look back period. As circumstances dictate, management will make adjustments to the loss history to reflect differences in current conditions as compared to those during the historical loss period. Conditions to be considered include problem loan trends, current business and economic conditions, credit concentrations, lending policies and procedures, lending staff, collateral values, loan profiles and volumes, loan review quality, and changes in competition and regulations. | |||
The Company considers a loan to be impaired when, based upon current information and events, it believes it is probable all amounts due according to the contractual terms of the loan agreement will not be collected. A loan is not considered impaired due to a delay in payment if all amounts due, including interest accrued at the contractual interest rate for the period of delay, is expected to be collected. Impaired loans include troubled debt restructurings, and performing and non-performing loans. When a loan is determined to be impaired, the amount of impairment is recognized by creating a specific allowance for any shortfall between the loans value and its recorded investment. The loan’s value is measured by either the loan’s observable market price, the fair value of the collateral of the loan (less liquidation costs) if it is collateral dependent, or by the present value of expected future cash flows discounted at the loan’s effective interest rate. Any loans individually analyzed for impairment are not incorporated into the pool analysis to avoid double counting. The Company limits the specific reserve analysis to include all impaired commercial, commercial real estate and mortgage loans with balances of $1 million or greater. | ||||
It is the policy of the Company to promptly charge off all commercial and residential mortgage loans, or portions of loans, when available information reasonably confirms that they are wholly or partially uncollectible. Prior to recognizing a loss, asset value is established based on an assessment of the value of the collateral securing the loan, the borrower’s and the guarantor’s ability and willingness to pay and the status of the account in bankruptcy court, if applicable. Consumer loans are generally charged down to the fair value of the collateral, if any, less estimated selling costs when the loan is 90 days past due, unless the loan is clearly both well secured and in the process of collection. Loans are charged off against the allowance for loan losses with subsequent recoveries added back to the allowance. | ||||
Acquired loans | ||||
Acquired-performing loans are evaluated for any required allowance at each reporting date subsequent to acquisition. An allowance is determined for each loan pool using a methodology similar to that described above for originated loans and then compared to the remaining fair value discount for that pool. If the allowance is greater than the discount, the excess is recognized as an addition to the allowance through a provision for loan losses. If the allowance is less than the discount, no additional allowance is recognized. | ||||
For acquired-impaired loans and covered loans, estimated cash flows expected to be collected are recast at each reporting date for each loan pool. These evaluations require the continued use and updating of key assumptions and estimates such as default rates, loss severity given default and prepayment speed assumptions, similar to those used for the initial fair value estimate. Management judgment must be applied in developing these assumptions. If the present value of expected cash flows for a pool is less than its carrying value, impairment is recognized by an increase in the allowance for loan losses and a charge to the provision for loan losses. If the present value of expected cash flows for a pool is greater than its carrying value, any previously established allowance for loan losses is reversed and any remaining difference increases the accretable yield which will be taken into interest income over the remaining life of the loan pool. Acquired-impaired loans are generally not subject to individual evaluation for impairment and are not reported with impaired loans or troubled debt restructurings, even if they would otherwise qualify for such treatment. | ||||
Property and Equipment | ||||
Property and equipment are recorded at cost, less accumulated depreciation and amortization. Depreciation is charged to expense over the estimated useful lives of the assets, which are up to 39 years for buildings and three to seven years for furniture and equipment. Amortization expense for software is charged over three years. Leasehold improvements are amortized over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. In cases where the Company has the right to renew the lease for additional periods, the lease term for the purpose of calculating amortization of the capitalized cost of the leasehold improvements is extended when the Company is “reasonably assured” that it will renew the lease. | ||||
Gains and losses related to retirement or disposition of property and equipment are recorded in other income under noninterest income on the consolidated statements of income. The Company continually evaluates whether events and circumstances have occurred that indicate that such long-lived assets have been impaired. Measurement of any impairment of such long-lived assets is based on those assets’ fair values. | ||||
Other Real Estate | ||||
Other real estate owned includes real property that has been acquired in satisfaction of loans and property no longer used in the Banks’ business. These assets are recorded at the lower of either cost or estimated fair value less the estimated cost of disposition. Any initial reduction in the carrying amount of a loan to the fair value of the collateral received less selling costs is charged to the allowance for loan losses. Subsequent losses on the periodic revaluation of the property are charged to current earnings, as are revenues from and costs of operating and maintaining the properties and gains or losses recognized on their disposition. Improvements made to properties are capitalized if the expenditures are expected to be recovered upon the sale of the properties. | ||||
Goodwill and Other Intangible Assets | ||||
Goodwill, which represents the excess of cost over the fair value of the net assets of an acquired business, is not amortized but tested for impairment on an annual basis, or more often if events or circumstances indicate there may be impairment. Impairment is defined as the amount by which the implied fair value of the goodwill contained in any reporting unit is less than the goodwill’s carrying value. Impairment losses would be charged to operating expense. Management reviews goodwill for impairment by first comparing the estimated fair value of the reporting unit to its carrying value. If the reporting unit’s fair value is less than its carrying value, an estimate of the implied fair value of the goodwill is compared to the unit’s carrying value. The Company uses a present value technique to estimate fair value which incorporates assumptions that market participants would use in their estimates of fair value, such as assumptions about the economic environment, expected net interest margins, growth rates, and the rate at which cash flows are discounted. | ||||
Other identifiable intangible assets with finite lives, such as core deposit intangibles and trade name, are initially recorded at fair value and are generally amortized over the periods benefited and are evaluated for impairment similar to long-lived assets. | ||||
Bank-Owned Life Insurance | ||||
Bank-owned life insurance (BOLI) is long-term life insurance on the lives of certain current and past employees where the insurance policy benefits and ownership are retained by the employer. Its cash surrender value is an asset that the Company uses to partially offset the future cost of employee benefits. The cash value accumulation on BOLI is permanently tax deferred if the policy is held to the insured person’s death and certain other conditions are met. | ||||
Derivative Instruments and Hedging Activities | ||||
The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. Changes in the fair value of derivatives to which hedge accounting does not apply are recognized immediately in earnings. Note 6 describes the derivative instruments currently used by the Company and discloses how these derivatives impact Hancock’s financial position and results of operations. | ||||
Income Taxes | ||||
Income taxes are accounted for using the asset and liability method. Current tax liabilities or assets are recognized for the estimated income taxes payable or refundable on tax returns to be filed with respect to the current year. Deferred tax assets and liabilities are based on temporary differences between the financial statement carrying amounts and the tax bases of the Company’s assets and liabilities. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be realized or settled. Valuation allowances are established against deferred tax assets if, based on all available evidence, it is more likely than not that some or all of the assets will not be realized. The benefit of a position taken or expected to be taken in a tax return is recognized when it is more likely than not that the position will be sustained on its technical merits. | ||||
Retirement Benefits | ||||
The Company sponsors defined benefit pension plans and certain other defined benefit postretirement plans for eligible employees. The amounts reported in the consolidated financial statements with respect to these plans are based on actuarial valuations that incorporate various assumptions regarding future experience under the plans. Note 12 discusses the actuarial assumptions and provides information about the liabilities or assets recognized for the funded status of the Company’s obligations under these plans, the net benefit expense charged to current operations, and the amounts recognized as a component of other comprehensive income and accumulated other comprehensive income. | ||||
Share-Based Payment Arrangements | ||||
The grant date fair value of equity instruments awarded to employees and directors establishes the cost of the services received in exchange, and the cost associated with awards that are expected to vest is recognized over the requisite service period. | ||||
Revenue Recognition | ||||
The largest source of revenue for the Company is interest revenue. Interest revenue is recognized on an accrual basis driven by written contracts, such as loan agreements or securities contracts. Loan fees are amortized over the life of the loan. Credit-related fees, including letter of credit fees, are recognized in non-interest income when earned. The Company recognizes commission revenue and brokerage, exchange and clearance fees on a trade-date basis. Other types of non-interest revenue such as service charges on deposits and trust revenues, are accrued and recognized into income as services are provided and the amount of fees earned are reasonably determinable. | ||||
Earnings Per Share | ||||
Hancock calculates earnings per share using the two-class method. The two-class method allocates net income to each class of common stock and participating security according to the common dividends declared and participation rights in undistributed earnings. Participating securities currently consist of unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents. | ||||
Basic earnings per common share is computed by dividing income applicable to common shareholders by the weighted-average number of common shares outstanding for the applicable period. Shares outstanding are adjusted for restricted shares issued to employees under the long-term incentive compensation plan and for certain shares that will be issued under the directors’ compensation plan. Diluted earnings per common share is computed using the weighted-average number of common shares outstanding increased by the number of shares in which employees would vest under performance-based restricted stock and stock unit awards based on expected performance factors and by the number of additional shares that would have been issued if potentially dilutive stock options were exercised, each as determined using the treasury stock method. | ||||
Statements of Cash Flows | ||||
The Company considers only cash on hand, cash items in process of collection and balances due from financial institutions as cash and cash equivalents for purposes of the consolidated statements of cash flows. | ||||
Reportable Segment Disclosures | ||||
Accounting standards require that information be reported about a company’s operating segments using a “management approach.” Reportable segments are identified in these standards as those revenue-producing components for which separate financial information is produced internally and which are subject to evaluation by the chief operating decision maker in deciding how to allocate resources to segments. The Company defines reportable segments as the Banks. | ||||
Other | ||||
Assets held by the Banks in a fiduciary capacity are not assets of the Banks and are not included in the consolidated balance sheets. | ||||
RECENT ACCOUNTING PRONOUNCEMENTS | ||||
In January 2014, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) on reclassification of residential real estate collateralized consumer mortgage loans upon foreclosure. The new ASU clarifies when an in substance repossession or foreclosure occurs – that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The new ASU requires a creditor to reclassify a collateralized consumer mortgage loan to real estate property upon obtaining legal title to the real estate collateral, or the borrower voluntarily conveying all interest in the real estate property to the lender to satisfy the loan through a deed in lieu of foreclosure or similar legal agreement. The ASU is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of this guidance is not expected to have a material impact on the Company’s financial condition or results of operations. | ||||
In July 2013, the FASB issued an ASU that applies to companies that have unrecognized tax benefits when net operating loss (NOL) or similar tax loss carryforwards or tax credit carryforwards exist at the reporting date. Under the updated guidance, an entity should present its unrecognized tax benefits net against the deferred tax assets for all same jurisdiction NOL or similar tax loss carryforwards, or tax credit carryforwards that are available to and would be used by the entity to settle additional income taxes resulting from disallowance of the uncertain tax position. The ASU is effective for interim and annual reporting periods beginning after December 15, 2013. The adoption of this guidance is not expected to have a material impact on the Company’s financial condition or results of operations. | ||||
In July 2013, the FASB issued an ASU to allow entities to use the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a U.S. benchmark interest rate for hedge accounting purposes. Previously, only the interest rates on direct Treasury obligations of the United States and the London Interbank Offered Rate swap rate were considered benchmark rates. The amendment also removed the restriction requiring entities to use the same benchmark rate for similar hedges. This ASU is effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of this guidance did not have a material impact on the Company’s financial condition or results of operations. | ||||
In February 2013, the FASB issued an ASU to improve the reporting of amounts reclassified out of accumulated other comprehensive income. The updated guidance requires an entity to present, either on the face of the statement where net income is presented or in the notes, the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income, but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity must cross-reference to other required disclosures that provide additional details about those amounts. This ASU is effective for interim and annual reporting periods beginning after December 15, 2012. Because this updated guidance impacts only disclosures in financial statements and does not change the current requirements for reporting net income or other comprehensive income in financial statements, its implementation did not impact the Company’s financial condition or results of operations. | ||||
In October 2012, the FASB issued an ASU for entities that recognize an indemnification asset as a result of a government-assisted acquisition of a financial institution. When there is a change in the cash flows expected to be collected on the indemnification asset as a result of a change in cash flows expected to be collected on the assets subject to indemnification, the reporting entity should subsequently account for the change in the measurement of the indemnification asset on the same basis as the change in the assets subject to indemnification. Any amortization of changes in value should be limited to the contractual term of the indemnification agreement (that is, the lesser of the term of the indemnification agreement and the remaining life of the indemnified assets). The amendments in this update are effective for fiscal years, and interim periods within those years, beginning on or after December 15, 2012. The updated guidance is applied prospectively to any new indemnification assets acquired after the date of adoption and to indemnification assets existing as of the date of adoption arising from a government-assisted acquisition of a financial institution. The adoption of this guidance did not have a material impact on the Company’s financial condition or results of operations. | ||||
In July 2012, FASB issued an ASU that specifies that an entity has the option first to assess qualitative factors to determine whether the existence of events and circumstances indicates that it is more likely than not that the indefinite-lived intangible asset is impaired. If, after assessing the totality of events and circumstances, an entity concludes that it is not more likely than not that the indefinite-lived intangible asset is impaired, then the entity is not required to take further action. However, if an entity concludes otherwise, then it is required to determine the fair value of the indefinite-lived intangible asset and perform the quantitative impairment test by comparing the fair value with the carrying amount. Under the guidance in this ASU, an entity also has the option to bypass the qualitative assessment for any indefinite-lived intangible asset in any period and proceed directly to performing the quantitative impairment test. An entity will be able to resume performing the qualitative assessment in any subsequent period. The guidance in this ASU was effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, with early adoption permitted. The adoption of this guidance did not have a material impact on the Company’s financial condition or results of operations. | ||||
In December 2011, the FASB issued an ASU to address the differences between international financial reporting standards (IFRS) and U.S. GAAP regarding the offsetting of assets and liabilities. Instead of proposing new criteria for netting assets and liabilities the FASB and International Accounting Standards Board (IASB) jointly issued common disclosure requirements related to offsetting arrangements that call for the disclosure of both net and gross information for these assets and liabilities, irrespective of whether they are offset on the statement of financial position. In January 2013, the FASB clarified that these disclosure requirements apply only to derivatives, repurchase and reverse repurchase agreements, and securities borrowing and lending transactions that are either offset in accordance with existing accounting guidance or subject to a master netting arrangement or similar agreement. An entity is required to provide the new disclosures for annual and interim reporting periods beginning on or after January 1, 2013. This guidance impacts only the disclosures in financial statements and did not impact the Company’s financial condition or results of operations. |
Acquisitions
Acquisitions | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||
Acquisitions | ' | ||||||||||||
Note 2. Acquisitions | |||||||||||||
Whitney Holding Corporation | |||||||||||||
On June 4, 2011, Hancock acquired all of the outstanding common stock of Whitney Holding Corporation (Whitney), a bank holding company based in New Orleans, Louisiana, in a stock and cash transaction. Whitney common shareholders received 0.418 shares of Hancock common stock in exchange for each share of Whitney stock, resulting in Hancock issuing 40,794,261 common shares at a fair value of $1.3 billion. Whitney’s preferred stock and common stock warrant issued under TARP were purchased by the Company for $307.7 million and retired as part of the merger transaction. In total, the purchase price was approximately $1.6 billion including the value of the options to purchase common stock assumed in the merger. On September 16, 2011, seven Whitney Bank branches located on the Mississippi Gulf Coast and one branch located in Bogalusa, LA with approximately $47 million in loans and $180 million in deposits were divested in order to resolve branch concentration concerns of the U.S. Department of Justice relating to the merger. | |||||||||||||
The Whitney transaction was accounted for using the purchase method of accounting and, accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at estimated fair value on the acquisition date. Fair values were subject to refinement for up to one year after the closing date of the acquisition. Assets acquired, excluding goodwill, totaled $11.2 billion, including $6.5 billion in loans, $2.6 billion of investment securities, and $224 million of identifiable intangible assets. Liabilities assumed were $10.1 billion, including $9.2 billion of deposits. | |||||||||||||
Goodwill of $589.5 million was calculated as the excess of the consideration exchanged over the net identifiable assets acquired. Goodwill was reduced for deferred tax purchase accounting adjustments by $3.2 million in 2013 and $22.3 million in 2012. | |||||||||||||
The following table (in thousands) provides a reconciliation of goodwill: | |||||||||||||
Goodwill balance at December 31, 2010 | $ | 61,631 | |||||||||||
Additions: | |||||||||||||
Goodwill from Whitney acquisition at acquisition date | 513,917 | ||||||||||||
Purchase accounting fair value adjustments subsequent to acquisition date made during the fourth quarter of 2011 | 75,614 | ||||||||||||
Goodwill balance at December 31, 2011 | $ | 651,162 | |||||||||||
Reductions: | |||||||||||||
Deferred tax purchase accounting adjustment made during 2012 | (22,285 | ) | |||||||||||
Deferred tax purchase accounting adjustment made during 2013 | (3,202 | ) | |||||||||||
Goodwill balance at December 31, 2013 | $ | 625,675 | |||||||||||
In connection with the Whitney acquisition, the Company recorded a liability for contingent payments to certain employees for arrangements that were in existence prior to acquisition. The fair value of this liability was $58.0 million. The following table presents the changes in the liability for 2013, 2012, and 2011. Payments are expected to continue into 2014. | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance, January 1 | $ | 8,165 | $ | 23,183 | $ | — | |||||||
Adjustments | 2,765 | 1,127 | 57,964 | ||||||||||
Cash Payments | (2,269 | ) | (16,145 | ) | (34,781 | ) | |||||||
Balance, December 31 | $ | 8,661 | $ | 8,165 | $ | 23,183 | |||||||
The Company also recorded a liability with a fair value of $14.0 million for a contractual contingency assumed in connection with Whitney’s obligations under contracts for a systems conversion and replacement initiative. This initiative was suspended in anticipation of the acquisition. Payments against this liability during 2012 and 2011 respectively were $2.6 million and $1.1 million. During 2012, the remainder was reversed upon reaching settlement terms. | |||||||||||||
Securities
Securities | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||
Securities | ' | ||||||||||||||||||||||||||||||||
Note 3. Securities | |||||||||||||||||||||||||||||||||
The amortized cost and fair value of securities classified as available for sale and held to maturity follow (in thousands): | |||||||||||||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Cost | Unrealized | Unrealized | ||||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | ||||||||||||||||||||||||||||||
U.S. Treasury and government agency securities | $ | 504 | $ | 2 | $ | 1 | $ | 505 | $ | 18,246 | $ | 19 | $ | — | $ | 18,265 | |||||||||||||||||
Municipal obligations | 35,809 | 177 | 25 | 35,961 | 49,608 | 571 | 14 | 50,165 | |||||||||||||||||||||||||
Mortgage-backed securities | 1,262,633 | 24,402 | 10,077 | 1,276,958 | 1,715,524 | 58,903 | 21 | 1,774,406 | |||||||||||||||||||||||||
CMOs | 96,369 | — | 2,244 | 94,125 | 196,723 | 1,354 | — | 198,077 | |||||||||||||||||||||||||
Corporate debt securities | 3,500 | — | — | 3,500 | 2,250 | — | — | 2,250 | |||||||||||||||||||||||||
Equity securities | 9,965 | 785 | 27 | 10,723 | 4,531 | 752 | 4 | 5,279 | |||||||||||||||||||||||||
$ | 1,408,780 | $ | 25,366 | $ | 12,374 | $ | 1,421,772 | $ | 1,986,882 | $ | 61,599 | $ | 39 | $ | 2,048,442 | ||||||||||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Cost | Unrealized | Unrealized | ||||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | ||||||||||||||||||||||||||||||
U.S. Treasury and government agency securities | $ | 100,000 | $ | 316 | $ | — | $ | 100,316 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Municipal obligations | 193,189 | 919 | 6,436 | 187,672 | 164,493 | 16,017 | — | 180,510 | |||||||||||||||||||||||||
Mortgage-backed securities | 1,003,327 | 296 | 4,671 | 998,952 | 180,397 | 3,429 | — | 183,826 | |||||||||||||||||||||||||
CMOs | 1,314,836 | 1,062 | 26,254 | 1,289,644 | 1,323,128 | 23,942 | 941 | 1,346,129 | |||||||||||||||||||||||||
$ | 2,611,352 | $ | 2,593 | $ | 37,361 | $ | 2,576,584 | $ | 1,668,018 | $ | 43,388 | $ | 941 | $ | 1,710,465 | ||||||||||||||||||
During the third quarter of 2013, approximately $1.0 billion of securities available for sale were reclassified as securities held to maturity. Management determined that the reclassified securities were not needed for liquidity purposes and that the Company had the ability and intent to hold the securities to maturity. The reclassified securities consisted of mortgage-backed securities and collateral mortgage obligations (CMOs). The securities were transferred at fair value on the date of their reclassification, which became the cost basis for the securities held to maturity. The unrealized net holding loss on the available for sale securities on the date of transfer totaled approximately $56.8 million, and continued to be reported, net of tax, as a component of accumulated other comprehensive income. This net unrealized loss is being amortized to interest income over the remaining life of the securities as a yield adjustment, which will serve to offset the impact of the accretion of the net discount created in the transfer. There were no gains or losses recognized as a result of this transfer. | |||||||||||||||||||||||||||||||||
The following table presents the amortized cost and fair value of debt securities at December 31, 2013 by contractual maturity (in thousands). Actual maturities will differ from contractual maturities because of rights to call or repay obligations with or without penalties and scheduled and unscheduled principal payments on mortgage-backed securities and CMOs. | |||||||||||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||||||||||
Debt Securities Available for Sale | |||||||||||||||||||||||||||||||||
Due in one year or less | $ | 26,323 | $ | 26,421 | |||||||||||||||||||||||||||||
Due after one year through five years | 172,656 | 171,832 | |||||||||||||||||||||||||||||||
Due after five years through ten years | 141,522 | 148,160 | |||||||||||||||||||||||||||||||
Due after ten years | 1,058,314 | 1,064,636 | |||||||||||||||||||||||||||||||
Total available for sale debt securities | $ | 1,398,815 | $ | 1,411,049 | |||||||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||||||||||
Debt Securities Held to Maturity | |||||||||||||||||||||||||||||||||
Due in one year or less | $ | 108,537 | $ | 108,893 | |||||||||||||||||||||||||||||
Due after one year through five years | 657,944 | 638,035 | |||||||||||||||||||||||||||||||
Due after five years through ten years | 141,597 | 136,633 | |||||||||||||||||||||||||||||||
Due after ten years | 1,703,274 | 1,693,023 | |||||||||||||||||||||||||||||||
Total held to maturity securities | $ | 2,611,352 | $ | 2,576,584 | |||||||||||||||||||||||||||||
The Company held no securities classified as trading at December 31, 2013 or 2012. | |||||||||||||||||||||||||||||||||
The details for securities classified as available for sale with unrealized losses as of December 31, 2013 follow (in thousands): | |||||||||||||||||||||||||||||||||
Available for sale | |||||||||||||||||||||||||||||||||
Losses < 12 months | Losses 12 months or > | Total | |||||||||||||||||||||||||||||||
Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
U.S. Treasury and government agency securities | $ | 205 | $ | 1 | $ | — | $ | — | $ | 205 | $ | 1 | |||||||||||||||||||||
Municipal obligations | 7,975 | 25 | — | — | 7,975 | 25 | |||||||||||||||||||||||||||
Mortgage-backed securities | 376,350 | 7,164 | 49,061 | 2,913 | 425,411 | 10,077 | |||||||||||||||||||||||||||
CMOs | 94,125 | 2,244 | — | — | 94,125 | 2,244 | |||||||||||||||||||||||||||
Equity securities | 3,282 | 26 | 3 | 1 | 3,285 | 27 | |||||||||||||||||||||||||||
$ | 481,937 | $ | 9,460 | $ | 49,064 | $ | 2,914 | $ | 531,001 | $ | 12,374 | ||||||||||||||||||||||
The details for securities classified as available for sale with unrealized losses as of December 31, 2012 follow (in thousands): | |||||||||||||||||||||||||||||||||
Available for sale | |||||||||||||||||||||||||||||||||
Losses < 12 months | Losses 12 months or > | Total | |||||||||||||||||||||||||||||||
Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
U.S. Treasury and government agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Municipal obligations | 5,278 | 14 | — | — | 5,278 | 14 | |||||||||||||||||||||||||||
Mortgage-backed securities | 57,752 | 14 | 1,097 | 7 | 58,849 | 21 | |||||||||||||||||||||||||||
Equity securities | 268 | 2 | 2 | 2 | 270 | 4 | |||||||||||||||||||||||||||
$ | 63,298 | $ | 30 | $ | 1,099 | $ | 9 | $ | 64,397 | $ | 39 | ||||||||||||||||||||||
The details for securities classified as held to maturity with unrealized losses as of December 31, 2013 follow (in thousands): | |||||||||||||||||||||||||||||||||
Held to maturity | |||||||||||||||||||||||||||||||||
Losses < 12 months | Losses 12 months or > | Total | |||||||||||||||||||||||||||||||
Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
Municipal obligations | $ | 131,499 | $ | 6,311 | $ | 2,878 | $ | 125 | $ | 134,377 | $ | 6,436 | |||||||||||||||||||||
Mortgage-backed securities | 950,288 | 4,671 | — | — | 950,288 | 4,671 | |||||||||||||||||||||||||||
CMOs | 947,061 | 25,088 | 175,633 | 1,166 | 1,122,694 | 26,254 | |||||||||||||||||||||||||||
$ | 2,028,848 | $ | 36,070 | $ | 178,511 | $ | 1,291 | $ | 2,207,359 | $ | 37,361 | ||||||||||||||||||||||
The details for securities classified as held to maturity with unrealized losses as of December 31, 2012 follow (in thousands): | |||||||||||||||||||||||||||||||||
Held to maturity | |||||||||||||||||||||||||||||||||
Losses < 12 months | Losses 12 months or > | Total | |||||||||||||||||||||||||||||||
Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
CMOs | $ | 87,852 | $ | 259 | $ | 54,445 | $ | 682 | $ | 142,297 | $ | 941 | |||||||||||||||||||||
$ | 87,852 | $ | 259 | $ | 54,445 | $ | 682 | $ | 142,297 | $ | 941 | ||||||||||||||||||||||
The unrealized losses relate to changes in market rates on fixed-rate debt securities since the respective purchase date. In all cases, the indicated impairment would be recovered by the security’s maturity date or possibly earlier if the market price for the security increases with a reduction in the yield required by the market. None of the unrealized losses relate to the marketability of the securities or the issuer’s ability to meet contractual obligations. The Company has adequate liquidity and, therefore, does not plan to and, more likely than not, will not be required to sell these securities before recovery of the indicated impairment. Accordingly, the unrealized losses on these securities have been determined to be temporary. | |||||||||||||||||||||||||||||||||
Proceeds from sales of securities available for sale were approximately $0.2 million in 2013, $48 million in 2012, and $343 million in 2011. Realized gross gains and losses, computed through specific identification, were insignificant. Substantially all of the proceeds in 2011 came from the sale of a portion of the portfolio acquired in the Whitney acquisition. | |||||||||||||||||||||||||||||||||
Securities with carrying values totaling approximately $3.1 billion at December 31, 2013 and $2.6 billion at December 31, 2012 were pledged primarily to secure public deposits or sold under agreements to repurchase. |
Loans
Loans | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||
Loans | ' | ||||||||||||||||||||||||||||||||
Note 4. Loans | |||||||||||||||||||||||||||||||||
The distinction between originated, acquired and covered loans and certain significant accounting policies relevant to each category are discussed in detail in Note 1. In the following discussion and tables, certain disaggregated information was not available for the commercial non-real estate, construction and land development and commercial real estate loan categories for years prior to 2013. In these instances, combined information for these categories is provided under the caption “commercial loans.” | |||||||||||||||||||||||||||||||||
Loans, net of unearned income, consisted of the following: | |||||||||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 4,113,837 | $ | 2,713,385 | |||||||||||||||||||||||||||||
Construction and land development | 752,381 | 665,673 | |||||||||||||||||||||||||||||||
Commercial real estate | 2,022,528 | 1,548,402 | |||||||||||||||||||||||||||||||
Residential mortgages | 1,196,256 | 827,985 | |||||||||||||||||||||||||||||||
Consumer | 1,409,130 | 1,351,776 | |||||||||||||||||||||||||||||||
Total originated loans | $ | 9,494,132 | $ | 7,107,221 | |||||||||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 926,997 | $ | 1,690,643 | |||||||||||||||||||||||||||||
Construction and land development | 142,931 | 295,151 | |||||||||||||||||||||||||||||||
Commercial real estate | 967,148 | 1,279,546 | |||||||||||||||||||||||||||||||
Residential mortgages | 315,340 | 486,444 | |||||||||||||||||||||||||||||||
Consumer | 119,603 | 202,974 | |||||||||||||||||||||||||||||||
Total acquired loans | $ | 2,472,019 | $ | 3,954,758 | |||||||||||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 23,390 | $ | 29,260 | |||||||||||||||||||||||||||||
Construction and land development | 20,229 | 28,482 | |||||||||||||||||||||||||||||||
Commercial real estate | 53,165 | 95,146 | |||||||||||||||||||||||||||||||
Residential mortgages | 209,018 | 263,515 | |||||||||||||||||||||||||||||||
Consumer | 52,864 | 99,420 | |||||||||||||||||||||||||||||||
Total covered loans | $ | 358,666 | $ | 515,823 | |||||||||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 5,064,224 | $ | 4,433,288 | |||||||||||||||||||||||||||||
Construction and land development | 915,541 | 989,306 | |||||||||||||||||||||||||||||||
Commercial real estate | 3,042,841 | 2,923,094 | |||||||||||||||||||||||||||||||
Residential mortgages | 1,720,614 | 1,577,944 | |||||||||||||||||||||||||||||||
Consumer | 1,581,597 | 1,654,170 | |||||||||||||||||||||||||||||||
Total loans | $ | 12,324,817 | $ | 11,577,802 | |||||||||||||||||||||||||||||
The Company generally makes loans in its market areas of south Mississippi, southern and central Alabama, south Louisiana, the Houston, Texas area and the northern, central and panhandle regions of Florida. The Banks make loans in the normal course of business to directors and executive officers of the Company and the Banks and to their associates. Loans to such related parties are made on substantially the same terms, including interest rates and collateral requirements, as those prevailing at the time for comparable transactions with unrelated parties and do not involve more than normal risk of collectability when originated. Balances of loans to the Company’s directors, executive officers and their associates at December 31, 2013 and 2012 were approximately $61.1 million and $76.8 million, respectively. New loans, repayments and net balances from changes in directors and executive officers and their associates for 2013 were $37.5 million, $34.0 million and ($19.2 million), respectively. | |||||||||||||||||||||||||||||||||
The following schedules show activity in the allowance for loan losses for 2013 and 2012 by portfolio segment and the corresponding recorded investment in loans as of December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||
Commercial | Construction | Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||||||
non-real | and land | real estate | mortgages | ||||||||||||||||||||||||||||||
estate | development | ||||||||||||||||||||||||||||||||
(In thousands) | Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 20,775 | $ | 11,415 | $ | 26,959 | $ | 6,406 | $ | 13,219 | $ | 78,774 | |||||||||||||||||||||
Charge-offs | (6,671 | ) | (10,312 | ) | (5,525 | ) | (2,297 | ) | (18,094 | ) | (42,899 | ) | |||||||||||||||||||||
Recoveries | 5,790 | 1,676 | 3,359 | 1,936 | 5,829 | 18,590 | |||||||||||||||||||||||||||
Net provision for loan losses | 13,197 | 3,401 | (4,144 | ) | 847 | 11,119 | 24,420 | ||||||||||||||||||||||||||
Ending balance | $ | 33,091 | $ | 6,180 | $ | 20,649 | $ | 6,892 | $ | 12,073 | $ | 78,885 | |||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 477 | $ | 22 | $ | 268 | $ | 1 | $ | — | $ | 768 | |||||||||||||||||||||
Collectively evaluated for impairment | $ | 32,614 | $ | 6,158 | $ | 20,381 | $ | 6,891 | $ | 12,073 | $ | 78,117 | |||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 4,113,837 | $ | 752,381 | $ | 2,022,528 | $ | 1,196,256 | $ | 1,409,130 | $ | 9,494,132 | |||||||||||||||||||||
Individually evaluated for impairment | 5,294 | 10,599 | 14,029 | 605 | — | 30,527 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 4,108,543 | $ | 741,782 | $ | 2,008,499 | $ | 1,195,651 | $ | 1,409,130 | $ | 9,463,605 | |||||||||||||||||||||
Commercial | Construction | Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 788 | $ | — | $ | — | $ | — | $ | — | $ | 788 | |||||||||||||||||||||
Charge-offs | — | — | — | — | — | — | |||||||||||||||||||||||||||
Recoveries | — | — | — | — | — | — | |||||||||||||||||||||||||||
Net provision for loan losses | 815 | 10 | 34 | — | — | 859 | |||||||||||||||||||||||||||
Ending balance | $ | 1,603 | $ | 10 | $ | 34 | $ | — | $ | — | $ | 1,647 | |||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Amounts related to acquired-impaired loans | — | — | — | — | — | — | |||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 1,603 | $ | 10 | $ | 34 | $ | — | $ | — | $ | 1,647 | |||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 926,997 | $ | 142,931 | $ | 967,148 | $ | 315,340 | $ | 119,603 | $ | 2,472,019 | |||||||||||||||||||||
Individually evaluated for impairment | 2,141 | 728 | 2,338 | — | — | 5,207 | |||||||||||||||||||||||||||
Acquired-impaired loans | 19,094 | 17,335 | 26,058 | 5,494 | 94 | 68,075 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 905,762 | $ | 124,868 | $ | 938,752 | $ | 309,846 | $ | 119,509 | $ | 2,398,737 | |||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 2,162 | $ | 5,623 | $ | 9,433 | $ | 30,471 | $ | 8,920 | $ | 56,609 | |||||||||||||||||||||
Charge-offs | (1,071 | ) | (1,244 | ) | (4,414 | ) | (1,532 | ) | (1,250 | ) | (9,511 | ) | |||||||||||||||||||||
Recoveries | 90 | 735 | 6,158 | 13 | 160 | 7,156 | |||||||||||||||||||||||||||
Net provision for loan losses | 1,263 | (1,566 | ) | (785 | ) | 5,343 | 3,200 | 7,455 | |||||||||||||||||||||||||
(Increase) decrease in FDIC loss share receivable | (121 | ) | (893 | ) | 537 | (6,306 | ) | (1,832 | ) | (8,615 | ) | ||||||||||||||||||||||
Ending balance | $ | 2,323 | $ | 2,655 | $ | 10,929 | $ | 27,989 | $ | 9,198 | $ | 53,094 | |||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Amounts related to acquired-impaired loans | $ | 2,323 | $ | 2,655 | $ | 10,929 | $ | 27,989 | $ | 9,198 | $ | 53,094 | |||||||||||||||||||||
Collectively evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 23,390 | $ | 20,229 | $ | 53,165 | $ | 209,018 | $ | 52,864 | $ | 358,666 | |||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Acquired-impaired loans | $ | 23,390 | $ | 20,229 | $ | 53,165 | $ | 209,018 | $ | 52,864 | $ | 358,666 | |||||||||||||||||||||
Collectively evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Commercial | Construction | Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||||||
non-real | and land | real estate | mortgages | ||||||||||||||||||||||||||||||
estate | development | ||||||||||||||||||||||||||||||||
(In thousands) | Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 23,725 | $ | 17,038 | $ | 36,392 | $ | 36,877 | $ | 22,139 | $ | 136,171 | |||||||||||||||||||||
Charge-offs | (7,742 | ) | (11,556 | ) | (9,939 | ) | (3,829 | ) | (19,344 | ) | (52,410 | ) | |||||||||||||||||||||
Recoveries | 5,880 | 2,411 | 9,517 | 1,949 | 5,989 | 25,746 | |||||||||||||||||||||||||||
Net provision for loan losses | 15,275 | 1,845 | (4,895 | ) | 6,190 | 14,319 | 32,734 | ||||||||||||||||||||||||||
(Increase) decrease in FDIC loss share receivable | (121 | ) | (893 | ) | 537 | (6,306 | ) | (1,832 | ) | (8,615 | ) | ||||||||||||||||||||||
Ending balance | $ | 37,017 | $ | 8,845 | $ | 31,612 | $ | 34,881 | $ | 21,271 | $ | 133,626 | |||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 477 | $ | 22 | $ | 268 | $ | 1 | $ | — | $ | 768 | |||||||||||||||||||||
Amounts related to acquired-impaired loans | 2,323 | 2,655 | 10,929 | 27,989 | 9,198 | 53,094 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 34,217 | $ | 6,168 | $ | 20,415 | $ | 6,891 | $ | 12,073 | $ | 79,764 | |||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 5,064,224 | $ | 915,541 | $ | 3,042,841 | $ | 1,720,614 | $ | 1,581,597 | $ | 12,324,817 | |||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | 7,435 | 11,327 | 16,367 | 605 | — | 35,734 | |||||||||||||||||||||||||||
Acquired-impaired loans | 42,484 | 37,564 | 79,223 | 214,512 | 52,958 | 426,741 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 5,014,305 | $ | 866,650 | $ | 2,947,251 | $ | 1,505,497 | $ | 1,528,639 | $ | 11,862,342 | |||||||||||||||||||||
Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||||||||
(In thousands) | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 60,211 | $ | 4,894 | $ | 18,141 | $ | 83,246 | |||||||||||||||||||||||||
Charge-offs | (42,277 | ) | (6,275 | ) | (16,208 | ) | (64,760 | ) | |||||||||||||||||||||||||
Recoveries | 5,375 | 324 | 4,030 | 9,729 | |||||||||||||||||||||||||||||
Net provision for loan losses | 35,840 | 7,463 | 7,256 | 50,559 | |||||||||||||||||||||||||||||
Ending balance | $ | 59,149 | $ | 6,406 | $ | 13,219 | $ | 78,774 | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 6,377 | $ | — | $ | — | $ | 6,377 | |||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 52,772 | $ | 6,406 | $ | 13,219 | $ | 72,397 | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 4,927,460 | $ | 827,985 | $ | 1,351,776 | $ | 7,107,221 | |||||||||||||||||||||||||
Individually evaluated for impairment | 70,555 | 2,721 | — | 73,276 | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 4,856,905 | $ | 825,264 | $ | 1,351,776 | $ | 7,033,945 | |||||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Charge-offs | — | — | — | — | |||||||||||||||||||||||||||||
Recoveries | — | — | — | — | |||||||||||||||||||||||||||||
Net provision for loan losses | 788 | — | — | 788 | |||||||||||||||||||||||||||||
Ending balance | $ | 788 | $ | — | $ | — | $ | 788 | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 788 | $ | — | $ | — | $ | 788 | |||||||||||||||||||||||||
Amounts related to acquired-impaired loans | — | — | — | — | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 3,265,340 | $ | 486,444 | $ | 202,974 | $ | 3,954,758 | |||||||||||||||||||||||||
Individually evaluated for impairment | 5,339 | — | — | 5,339 | |||||||||||||||||||||||||||||
Acquired-impaired loans | 123,315 | 20,314 | 644 | 144,273 | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 3,136,686 | $ | 466,130 | $ | 202,330 | $ | 3,805,146 | |||||||||||||||||||||||||
Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||||||||
(In thousands) | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 18,203 | $ | 9,024 | $ | 14,408 | $ | 41,635 | |||||||||||||||||||||||||
Charge-offs | (29,947 | ) | — | (1,094 | ) | (31,041 | ) | ||||||||||||||||||||||||||
Recoveries | 4,894 | — | 78 | 4,972 | |||||||||||||||||||||||||||||
Net provision for loan losses | (895 | ) | 11,948 | (8,208 | ) | 2,845 | |||||||||||||||||||||||||||
Increase in FDIC loss share receivable | 25,777 | 11,702 | 719 | 38,198 | |||||||||||||||||||||||||||||
Ending balance | $ | 18,032 | $ | 32,674 | $ | 5,903 | $ | 56,609 | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Amounts related to acquired-impaired loans | 18,032 | 32,674 | 5,903 | 56,609 | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 152,888 | $ | 263,515 | $ | 99,420 | $ | 515,823 | |||||||||||||||||||||||||
Individually evaluated for impairment | — | — | — | — | |||||||||||||||||||||||||||||
Acquired-impaired loans | 152,888 | 263,515 | 99,420 | 515,823 | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 78,414 | $ | 13,918 | $ | 32,549 | $ | 124,881 | |||||||||||||||||||||||||
Charge-offs | (72,224 | ) | (6,275 | ) | (17,302 | ) | (95,801 | ) | |||||||||||||||||||||||||
Recoveries | 10,269 | 324 | 4,108 | 14,701 | |||||||||||||||||||||||||||||
Net provision for loan losses | 35,733 | 19,411 | (952 | ) | 54,192 | ||||||||||||||||||||||||||||
Increase in FDIC loss share receivable | 25,777 | 11,702 | 719 | 38,198 | |||||||||||||||||||||||||||||
Ending balance | $ | 77,969 | $ | 39,080 | $ | 19,122 | $ | 136,171 | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 7,165 | $ | — | $ | — | $ | 7,165 | |||||||||||||||||||||||||
Amounts related to acquired-impaired loans | 18,032 | 32,674 | 5,903 | 56,609 | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 52,772 | $ | 6,406 | $ | 13,219 | $ | 72,397 | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 8,345,688 | $ | 1,577,944 | $ | 1,654,170 | $ | 11,577,802 | |||||||||||||||||||||||||
Individually evaluated for impairment | 75,894 | 2,721 | — | 78,615 | |||||||||||||||||||||||||||||
Acquired-impaired loans | 276,203 | 283,829 | 100,064 | 660,096 | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 7,993,591 | $ | 1,219,394 | $ | 1,554,106 | $ | 10,839,091 | |||||||||||||||||||||||||
FDIC Loss Share Receivable | |||||||||||||||||||||||||||||||||
The receivable arising from the loss-sharing agreements (referred to as the “FDIC loss share receivable” on our consolidated statements of financial condition) is measured separately from the covered loan portfolio because the agreements are not contractually part of the covered loans and are not transferable should the Company choose to dispose of the covered loans. The following schedule shows activity in the loss share receivable for 2013 and 2012: | |||||||||||||||||||||||||||||||||
(In thousands) | December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
Balance, January 1 | $ | 177,844 | $ | 231,085 | |||||||||||||||||||||||||||||
(Amortization) accretion | (2,239 | ) | 5,000 | ||||||||||||||||||||||||||||||
Charge-offs, write-downs and other losses | (9,123 | ) | 45,459 | ||||||||||||||||||||||||||||||
External expenses qualifying under loss share agreement | 9,117 | 11,276 | |||||||||||||||||||||||||||||||
Payments received from the FDIC | (61,765 | ) | (114,976 | ) | |||||||||||||||||||||||||||||
Balance, December 31 | $ | 113,834 | $ | 177,844 | |||||||||||||||||||||||||||||
* | Note 1 to the consolidated financial statements discusses the accounting for the loss share receivable. | ||||||||||||||||||||||||||||||||
The following table shows the composition of non-accrual loans by portfolio segment and class. Acquired impaired and certain covered loans are considered to be performing due to the application of the accretion method and are excluded from the table. Covered loans accounted for using the cost recovery method do not have an accretable yield and are included below as non-accrual loans. Acquired performing loans that have subsequently been placed on non-accrual status are also included below. | |||||||||||||||||||||||||||||||||
Non-accrual Loans | December 31, | December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 10,119 | $ | 18,941 | |||||||||||||||||||||||||||||
Construction and land development | 13,171 | 32,777 | |||||||||||||||||||||||||||||||
Commercial real estate | 32,772 | 40,190 | |||||||||||||||||||||||||||||||
Residential mortgages | 13,449 | 7,705 | |||||||||||||||||||||||||||||||
Consumer | 4,802 | 3,815 | |||||||||||||||||||||||||||||||
Total originated loans | $ | 74,313 | $ | 103,428 | |||||||||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 3,209 | $ | 4,326 | |||||||||||||||||||||||||||||
Construction and land development | 1,990 | 5,967 | |||||||||||||||||||||||||||||||
Commercial real estate | 6,525 | 6,609 | |||||||||||||||||||||||||||||||
Residential mortgages | 8,262 | 10,551 | |||||||||||||||||||||||||||||||
Consumer | 1,814 | 2,634 | |||||||||||||||||||||||||||||||
Total acquired loans | $ | 21,800 | $ | 30,087 | |||||||||||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 2 | $ | — | |||||||||||||||||||||||||||||
Construction and land development | 1,539 | 2,487 | |||||||||||||||||||||||||||||||
Commercial real estate | 1,163 | 1,220 | |||||||||||||||||||||||||||||||
Residential mortgages | 544 | 393 | |||||||||||||||||||||||||||||||
Consumer | 296 | — | |||||||||||||||||||||||||||||||
Total covered loans | $ | 3,544 | $ | 4,100 | |||||||||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 13,330 | $ | 23,267 | |||||||||||||||||||||||||||||
Construction and land development | 16,700 | 41,231 | |||||||||||||||||||||||||||||||
Commercial real estate | 40,460 | 48,019 | |||||||||||||||||||||||||||||||
Residential mortgages | 22,255 | 18,649 | |||||||||||||||||||||||||||||||
Consumer | 6,912 | 6,449 | |||||||||||||||||||||||||||||||
Total loans | $ | 99,657 | $ | 137,615 | |||||||||||||||||||||||||||||
The estimated amount of interest that would have been recorded on non-accrual loans had the loans not been classified as non-accrual in 2013, 2012 and 2011, was $5.4 million, $7.8 million and $4.9 million, respectively. Interest actually received on non-accrual loans during 2013, 2012 and 2011 was $3.0 million, $2.6 million and $1.1 million, respectively. | |||||||||||||||||||||||||||||||||
Non-accrual loans include loans modified in troubled debt restructurings (TDRs) of $15.7 million and $30.3 million, respectively, at December 31, 2013 and 2012. TDRs were $24.9 million at December 31, 2013 and $32.2 million at December 31, 2012. Modified acquired-impaired loans are not removed from their accounting pool and accounted for as TDRs, even if those loans would otherwise be deemed TDRs. | |||||||||||||||||||||||||||||||||
The table below details the TDRs that occurred during 2013 and 2012 by portfolio segment and TDRs that subsequently defaulted within twelve months of modification. All are rated substandard and individually evaluated for impairment. | |||||||||||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | Number of | Pre-Modification | Post-Modification | Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | Contracts | Outstanding | Outstanding | ||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 1 | $ | 926 | $ | 909 | 4 | $ | 2,194 | $ | 2,169 | |||||||||||||||||||||||
Construction and land development | — | — | — | — | — | — | |||||||||||||||||||||||||||
Commercial real estate | 4 | 1,332 | 1,157 | 12 | 13,837 | 13,289 | |||||||||||||||||||||||||||
Residential mortgages | 1 | 456 | 330 | 3 | 865 | 728 | |||||||||||||||||||||||||||
Consumer | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total originated loans | 6 | $ | 2,714 | $ | 2,396 | 19 | $ | 16,896 | $ | 16,186 | |||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | 3 | $ | 4,047 | $ | 4,007 | |||||||||||||||||||||||||
Construction and land development | — | — | — | — | — | — | |||||||||||||||||||||||||||
Commercial real estate | 1 | 512 | 472 | 2 | 1,783 | 1,775 | |||||||||||||||||||||||||||
Residential mortgages | 1 | 514 | 503 | — | — | — | |||||||||||||||||||||||||||
Consumer | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total acquired loans | 2 | $ | 1,026 | $ | 975 | 5 | $ | 5,830 | $ | 5,782 | |||||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | — | — | — | |||||||||||||||||||||||||||
Construction and land development | — | — | — | — | — | — | |||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | — | — | |||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | — | |||||||||||||||||||||||||||
Consumer | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total covered loans | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 1 | $ | 926 | $ | 909 | $ | 7 | $ | 6,241 | $ | 6,176 | ||||||||||||||||||||||
Construction and land development | — | — | — | — | — | — | |||||||||||||||||||||||||||
Commercial real estate | 5 | 1,844 | 1,629 | 14 | 15,620 | 15,064 | |||||||||||||||||||||||||||
Residential mortgages | 2 | 970 | 833 | 3 | 865 | 728 | |||||||||||||||||||||||||||
Consumer | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total loans | 8 | $ | 3,740 | $ | 3,371 | $ | 24 | $ | 22,726 | $ | 21,968 | ||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
Troubled Debt Restructurings That | Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||||||
Subsequently Defaulted: | Contracts | Investment | Contracts | Investment | |||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | — | |||||||||||||||||||||||||||||
Construction and land development | — | — | — | — | |||||||||||||||||||||||||||||
Commercial real estate | 6 | 2,487 | 1 | $ | 275 | ||||||||||||||||||||||||||||
Residential mortgages | 1 | 254 | — | — | |||||||||||||||||||||||||||||
Consumer | — | — | — | — | |||||||||||||||||||||||||||||
Total originated loans | 7 | $ | 2,741 | 1 | $ | 275 | |||||||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | — | |||||||||||||||||||||||||||||
Construction and land development | — | — | — | — | |||||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | |||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | |||||||||||||||||||||||||||||
Consumer | — | — | — | — | |||||||||||||||||||||||||||||
Total acquired loans | — | $ | — | — | $ | — | |||||||||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | — | |||||||||||||||||||||||||||||
Construction and land development | — | — | — | — | |||||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | |||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | |||||||||||||||||||||||||||||
Consumer | — | — | — | — | |||||||||||||||||||||||||||||
Total covered loans | — | $ | — | — | $ | — | |||||||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | — | |||||||||||||||||||||||||||||
Construction and land development | — | — | — | — | |||||||||||||||||||||||||||||
Commercial real estate | 6 | 2,487 | 1 | $ | 275 | ||||||||||||||||||||||||||||
Residential mortgages | 1 | 254 | — | — | |||||||||||||||||||||||||||||
Consumer | — | — | — | — | |||||||||||||||||||||||||||||
Total loans | 7 | $ | 2,741 | 1 | $ | 275 | |||||||||||||||||||||||||||
Those loans that are determined to be impaired and $1 million or greater are individually evaluated for impairment. The tables below present loans that are individually evaluated for impairment disaggregated by class at December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
December 31, 2013 | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 329 | $ | 442 | $ | — | $ | 235 | $ | 18 | |||||||||||||||||||||||
Construction and land development | 4,101 | 5,131 | — | 2,780 | 82 | ||||||||||||||||||||||||||||
Commercial real estate | 5,321 | 7,458 | — | 15,886 | 374 | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | 262 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | 1,013 | — | ||||||||||||||||||||||||||||
9,751 | 13,031 | — | 20,176 | 474 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 4,965 | 5,303 | 477 | 8,936 | 180 | ||||||||||||||||||||||||||||
Construction and land development | 6,498 | 8,343 | 22 | 2,549 | — | ||||||||||||||||||||||||||||
Commercial real estate | 8,708 | 9,090 | 268 | 19,683 | 460 | ||||||||||||||||||||||||||||
Residential mortgages | 605 | 620 | 1 | 228 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | 1,025 | — | ||||||||||||||||||||||||||||
20,776 | 23,356 | 768 | 32,421 | 640 | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 5,294 | 5,745 | 477 | 9,171 | 198 | ||||||||||||||||||||||||||||
Construction and land development | 10,599 | 13,474 | 22 | 5,329 | 82 | ||||||||||||||||||||||||||||
Commercial real estate | 14,029 | 16,548 | 268 | 35,569 | 834 | ||||||||||||||||||||||||||||
Residential mortgages | 605 | 620 | 1 | 490 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | 2,038 | — | ||||||||||||||||||||||||||||
Total originated loans | $ | 30,527 | $ | 36,387 | $ | 768 | $ | 52,597 | $ | 1,114 | |||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 2,141 | 3,275 | — | 865 | 8 | ||||||||||||||||||||||||||||
Construction and land development | 728 | 1,142 | — | 296 | 3 | ||||||||||||||||||||||||||||
Commercial real estate | 1,865 | 2,634 | — | 1,339 | 49 | ||||||||||||||||||||||||||||
Residential mortgages | 473 | 507 | — | 407 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
5,207 | 7,558 | — | 2,907 | 60 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | 2,747 | 63 | ||||||||||||||||||||||||||||
Construction and land development | — | — | — | 157 | — | ||||||||||||||||||||||||||||
Commercial real estate | — | — | — | 2,663 | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | 845 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
— | — | — | 6,412 | 63 | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 2,141 | 3,275 | — | 3,612 | 71 | ||||||||||||||||||||||||||||
Construction and land development | 728 | 1,142 | — | 453 | 3 | ||||||||||||||||||||||||||||
Commercial real estate | 1,865 | 2,634 | — | 4,002 | 49 | ||||||||||||||||||||||||||||
Residential mortgages | 473 | 507 | — | 1,252 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
Total acquired loans | $ | 5,207 | $ | 7,558 | $ | — | $ | 9,319 | $ | 123 | |||||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Construction and land development | — | — | — | — | — | ||||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
— | — | — | — | — | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | — | — | ||||||||||||||||||||||||||||
Construction and land development | — | — | — | — | — | ||||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
— | — | — | — | — | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | — | — | ||||||||||||||||||||||||||||
Construction and land development | — | — | — | — | — | ||||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
Total covered loans | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 2,470 | $ | 3,717 | $ | — | $ | 1,100 | $ | 26 | |||||||||||||||||||||||
Construction and land development | 4,829 | 6,273 | — | 3,076 | 85 | ||||||||||||||||||||||||||||
Commercial real estate | 7,186 | 10,092 | — | 17,225 | 423 | ||||||||||||||||||||||||||||
Residential mortgages | 473 | 507 | — | 669 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | 1,013 | — | ||||||||||||||||||||||||||||
14,958 | 20,589 | — | 23,083 | 534 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 4,965 | 5,303 | 477 | 11,683 | 243 | ||||||||||||||||||||||||||||
Construction and land development | 6,498 | 8,343 | 22 | 2,706 | — | ||||||||||||||||||||||||||||
Commercial real estate | 8,708 | 9,090 | 268 | 22,346 | 460 | ||||||||||||||||||||||||||||
Residential mortgages | 605 | 620 | 1 | 1,073 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | 1,025 | — | ||||||||||||||||||||||||||||
20,776 | 23,356 | 768 | 38,833 | 703 | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 7,435 | 9,020 | 477 | 12,783 | 269 | ||||||||||||||||||||||||||||
Construction and land development | 11,327 | 14,616 | 22 | 5,782 | 85 | ||||||||||||||||||||||||||||
Commercial real estate | 15,894 | 19,182 | 268 | 39,571 | 883 | ||||||||||||||||||||||||||||
Residential mortgages | 1,078 | 1,127 | 1 | 1,742 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | 2,038 | — | ||||||||||||||||||||||||||||
Total loans | $ | 35,734 | $ | 43,945 | $ | 768 | $ | 61,916 | $ | 1,237 | |||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | 34,705 | $ | 55,101 | $ | — | $ | 23,793 | $ | 464 | |||||||||||||||||||||||
Residential mortgages | 2,721 | 4,874 | — | 3,255 | 155 | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
37,426 | 59,975 | — | 27,048 | 619 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | 35,850 | 37,917 | 6,377 | 41,232 | 703 | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | 4,619 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
35,850 | 37,917 | 6,377 | 45,851 | 703 | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial | 70,555 | 93,018 | 6,377 | 65,025 | 1,167 | ||||||||||||||||||||||||||||
Residential mortgages | 2,721 | 4,874 | — | 7,874 | 155 | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
Total originated loans | $ | 73,276 | $ | 97,892 | $ | 6,377 | $ | 72,899 | $ | 1,322 | |||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | — | — | — | — | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
— | — | — | — | — | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | 6,202 | 6,386 | 788 | 1,551 | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
6,202 | 6,386 | 788 | 1,551 | — | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial | 6,202 | 6,386 | 788 | 1,551 | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
Total acquired loans | $ | 6,202 | $ | 6,386 | $ | 788 | $ | 1,551 | $ | — | |||||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | — | — | — | — | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
— | — | — | — | — | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | — | — | — | — | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
— | — | — | — | — | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial | — | — | — | — | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
Total covered loans | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | 34,705 | 55,101 | — | 23,793 | 464 | ||||||||||||||||||||||||||||
Residential mortgages | 2,721 | 4,874 | — | 3,255 | 155 | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
37,426 | 59,975 | — | 27,048 | 619 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | 42,052 | 44,303 | 7,165 | 42,783 | 703 | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | 4,619 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
42,052 | 44,303 | 7,165 | 47,402 | 703 | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial | 76,757 | 99,404 | 7,165 | 66,576 | 1,167 | ||||||||||||||||||||||||||||
Residential mortgages | 2,721 | 4,874 | — | 7,874 | 155 | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
Total loans | $ | 79,478 | $ | 104,278 | $ | 7,165 | $ | 74,450 | $ | 1,322 | |||||||||||||||||||||||
Covered and acquired-impaired loans with existing credit impairment with an accretable yield are considered to be current in the following delinquency table. The following table presents the age analysis of past due loans at December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||
Age Analysis of Past Due Loans | |||||||||||||||||||||||||||||||||
As of December 31, 2013 and December 31, 2012 | |||||||||||||||||||||||||||||||||
December 31, 2013 | 30-59 days | 60-89 days | Greater than | Total | Current | Total | Recorded | ||||||||||||||||||||||||||
past due | past due | 90 days | past due | Loans | investment | ||||||||||||||||||||||||||||
past due | > 90 days | ||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
accruing | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 11,645 | $ | 1,203 | $ | 4,803 | $ | 17,651 | $ | 4,096,186 | $ | 4,113,837 | $ | 521 | |||||||||||||||||||
Construction and land development | 5,877 | 1,264 | 5,970 | 13,111 | 739,270 | 752,381 | — | ||||||||||||||||||||||||||
Commercial real estate | 8,178 | 5,744 | 14,620 | 28,542 | 1,993,986 | 2,022,528 | 420 | ||||||||||||||||||||||||||
Residential mortgages | 12,410 | 3,870 | 3,540 | 19,820 | 1,176,436 | 1,196,256 | — | ||||||||||||||||||||||||||
Consumer | 8,798 | 1,913 | 3,823 | 14,534 | 1,394,596 | 1,409,130 | 2,344 | ||||||||||||||||||||||||||
Total | $ | 46,908 | $ | 13,994 | $ | 32,756 | $ | 93,658 | $ | 9,400,474 | $ | 9,494,132 | $ | 3,285 | |||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 1,982 | $ | 2,332 | $ | 1,467 | $ | 5,781 | $ | 921,216 | $ | 926,997 | $ | 541 | |||||||||||||||||||
Construction and land development | 862 | 1,529 | 1,161 | 3,552 | 139,379 | 142,931 | 541 | ||||||||||||||||||||||||||
Commercial real estate | 3,742 | 1,345 | 9,026 | 14,113 | 953,035 | 967,148 | 5,853 | ||||||||||||||||||||||||||
Residential mortgages | 5,632 | 2,698 | 5,503 | 13,833 | 301,507 | 315,340 | 72 | ||||||||||||||||||||||||||
Consumer | 1,029 | 120 | 1,013 | 2,162 | 117,441 | 119,603 | 82 | ||||||||||||||||||||||||||
Total | $ | 13,247 | $ | 8,024 | $ | 18,170 | $ | 39,441 | $ | 2,432,578 | $ | 2,472,019 | $ | 7,089 | |||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | — | $ | — | $ | — | $ | — | $ | 23,390 | $ | 23,390 | $ | — | |||||||||||||||||||
Construction and land development | — | — | 1,539 | 1,539 | 18,690 | 20,229 | — | ||||||||||||||||||||||||||
Commercial real estate | — | — | 675 | 675 | 52,490 | 53,165 | — | ||||||||||||||||||||||||||
Residential mortgages | — | — | 3 | 3 | 209,015 | 209,018 | — | ||||||||||||||||||||||||||
Consumer | — | — | — | — | 52,864 | 52,864 | — | ||||||||||||||||||||||||||
Total | $ | — | $ | — | $ | 2,217 | $ | 2,217 | $ | 356,449 | $ | 358,666 | $ | — | |||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 13,627 | $ | 3,535 | $ | 6,270 | $ | 23,432 | $ | 5,040,792 | $ | 5,064,224 | $ | 1,062 | |||||||||||||||||||
Construction and land development | 6,739 | 2,793 | 8,670 | 18,202 | 897,339 | 915,541 | 541 | ||||||||||||||||||||||||||
Commercial real estate | 11,920 | 7,089 | 24,321 | 43,330 | 2,999,511 | 3,042,841 | 6,273 | ||||||||||||||||||||||||||
Residential mortgages | 18,042 | 6,568 | 9,046 | 33,656 | 1,686,958 | 1,720,614 | 72 | ||||||||||||||||||||||||||
Consumer | 9,827 | 2,033 | 4,836 | 16,696 | 1,564,901 | 1,581,597 | 2,439 | ||||||||||||||||||||||||||
Total | $ | 60,155 | $ | 22,018 | $ | 53,143 | $ | 135,316 | $ | 12,189,501 | $ | 12,324,817 | $ | 10,387 | |||||||||||||||||||
December 31, 2012 | 30-59 days | 60-89 days | Greater than | Total | Current | Total | Recorded | ||||||||||||||||||||||||||
past due | past due | 90 days | past due | Loans | investment | ||||||||||||||||||||||||||||
past due | > 90 days | ||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
accruing | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | 24,398 | $ | 16,508 | $ | 46,355 | $ | 87,261 | $ | 4,840,199 | $ | 4,927,460 | $ | 5,262 | |||||||||||||||||||
Residential mortgages | 11,500 | 3,303 | 4,100 | 18,903 | 809,082 | 827,985 | — | ||||||||||||||||||||||||||
Consumer | 10,348 | 2,150 | 4,231 | 16,729 | 1,335,047 | 1,351,776 | 2,474 | ||||||||||||||||||||||||||
Total | $ | 46,246 | $ | 21,961 | $ | 54,686 | $ | 122,893 | $ | 6,984,328 | $ | 7,107,221 | $ | 7,736 | |||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | 28,791 | $ | 4,666 | $ | 15,774 | $ | 49,231 | $ | 3,216,109 | $ | 3,265,340 | $ | 4,354 | |||||||||||||||||||
Residential mortgages | 9,641 | 1,290 | 8,996 | 19,927 | 466,517 | 486,444 | 1,106 | ||||||||||||||||||||||||||
Consumer | 1,282 | 430 | 2,170 | 3,882 | 199,092 | 202,974 | 47 | ||||||||||||||||||||||||||
Total | $ | 39,714 | $ | 6,386 | $ | 26,940 | $ | 73,040 | $ | 3,881,718 | $ | 3,954,758 | $ | 5,507 | |||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | — | $ | — | $ | 3,707 | $ | 3,707 | $ | 149,181 | $ | 152,888 | $ | — | |||||||||||||||||||
Residential mortgages | — | — | 393 | 393 | 263,122 | 263,515 | — | ||||||||||||||||||||||||||
Consumer | — | — | — | — | 99,420 | 99,420 | — | ||||||||||||||||||||||||||
Total | $ | — | $ | — | $ | 4,100 | $ | 4,100 | $ | 511,723 | $ | 515,823 | $ | — | |||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | 53,189 | $ | 21,174 | $ | 65,836 | $ | 140,199 | $ | 8,205,489 | $ | 8,345,688 | $ | 9,616 | |||||||||||||||||||
Residential mortgages | 21,141 | 4,593 | 13,489 | 39,223 | 1,538,721 | 1,577,944 | 1,106 | ||||||||||||||||||||||||||
Consumer | 11,630 | 2,580 | 6,401 | 20,611 | 1,633,559 | 1,654,170 | 2,521 | ||||||||||||||||||||||||||
Total | $ | 85,960 | $ | 28,347 | $ | 85,726 | $ | 200,033 | $ | 11,377,769 | $ | 11,577,802 | $ | 13,243 | |||||||||||||||||||
The following table presents the credit quality indicators of the Company’s various classes of loans at December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||
Commercial Non-Real Estate Credit Exposure | |||||||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Originated | Acquired | Covered | Total | Originated | Acquired | Covered | Total | ||||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||
Pass | $ | 3,990,318 | $ | 846,135 | $ | 10,476 | $ | 4,846,929 | $ | 2,610,970 | $ | 1,588,435 | $ | 14,855 | $ | 4,214,260 | |||||||||||||||||
Pass-Watch | 46,734 | 44,105 | 9 | 90,848 | 32,393 | 52,361 | 74 | 84,828 | |||||||||||||||||||||||||
Special Mention | 41,812 | 19,915 | 2,897 | 64,624 | 23,550 | 6,267 | 3,226 | 33,043 | |||||||||||||||||||||||||
Substandard | 34,276 | 16,125 | 9,662 | 60,063 | 46,472 | 43,219 | 8,433 | 98,124 | |||||||||||||||||||||||||
Doubtful | 695 | 718 | 345 | 1,758 | — | 361 | 2,672 | 3,033 | |||||||||||||||||||||||||
Loss | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Total | $ | 4,113,835 | $ | 926,998 | $ | 23,389 | $ | 5,064,222 | $ | 2,713,385 | $ | 1,690,643 | $ | 29,260 | $ | 4,433,288 | |||||||||||||||||
Construction Credit Exposure | |||||||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Originated | Acquired | Covered | Total | Originated | Acquired | Covered | Total | ||||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||
Pass | $ | 709,261 | $ | 112,773 | $ | — | $ | 822,034 | $ | 557,511 | $ | 249,269 | $ | 331 | $ | 807,111 | |||||||||||||||||
Pass-Watch | 7,817 | 1,907 | 1,226 | 10,950 | 13,705 | 2,993 | 1,028 | 17,726 | |||||||||||||||||||||||||
Special Mention | 3,926 | 9,409 | 276 | 13,611 | 30,522 | 12,248 | 420 | 43,190 | |||||||||||||||||||||||||
Substandard | 31,377 | 18,842 | 11,498 | 61,717 | 63,925 | 30,637 | 7,311 | 101,873 | |||||||||||||||||||||||||
Doubtful | — | — | 7,228 | 7,228 | 10 | 4 | 19,392 | 19,406 | |||||||||||||||||||||||||
Loss | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Total | $ | 752,381 | $ | 142,931 | $ | 20,228 | $ | 915,540 | $ | 665,673 | $ | 295,151 | $ | 28,482 | $ | 989,306 | |||||||||||||||||
Commercial Real Estate Credit Exposure | |||||||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Originated | Acquired | Covered | Total | Originated | Acquired | Covered | Total | ||||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||
Pass | $ | 1,864,116 | $ | 896,578 | $ | 1,678 | $ | 2,762,372 | $ | 1,353,453 | $ | 1,173,617 | $ | 16,693 | $ | 2,543,763 | |||||||||||||||||
Pass-Watch | 49,578 | 9,530 | 10,266 | 69,374 | 36,507 | 16,051 | 15,015 | 67,573 | |||||||||||||||||||||||||
Special Mention | 15,785 | 19,798 | 1,999 | 37,582 | 29,912 | 21,116 | 3,787 | 54,815 | |||||||||||||||||||||||||
Substandard | 93,034 | 41,242 | 31,350 | 165,626 | 128,088 | 68,762 | 31,298 | 228,148 | |||||||||||||||||||||||||
Doubtful | 16 | — | 7,872 | 7,888 | 442 | — | 28,353 | 28,795 | |||||||||||||||||||||||||
Loss | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Total | $ | 2,022,529 | $ | 967,148 | $ | 53,165 | $ | 3,042,842 | $ | 1,548,402 | $ | 1,279,546 | $ | 95,146 | $ | 2,923,094 | |||||||||||||||||
Residential Mortgage Credit Exposure | |||||||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Originated | Acquired | Covered | Total | Originated | Acquired | Covered | Total | ||||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||
Performing | $ | 1,182,266 | $ | 307,078 | $ | 209,015 | $ | 1,698,359 | $ | 820,281 | $ | 475,893 | $ | 263,515 | $ | 1,559,689 | |||||||||||||||||
Nonperforming | 13,990 | 8,262 | 3 | 22,255 | 7,704 | 10,551 | — | 18,255 | |||||||||||||||||||||||||
Total | $ | 1,196,256 | $ | 315,340 | $ | 209,018 | $ | 1,720,614 | $ | 827,985 | $ | 486,444 | $ | 263,515 | $ | 1,577,944 | |||||||||||||||||
Consumer Credit Exposure | |||||||||||||||||||||||||||||||||
Credit Risk Profile Based on Payment Activity | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Originated | Acquired | Covered | Total | Originated | Acquired | Covered | Total | ||||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||
Performing | $ | 1,404,032 | $ | 117,789 | $ | 52,864 | $ | 1,574,685 | $ | 1,345,487 | $ | 200,292 | $ | 99,420 | $ | 1,645,199 | |||||||||||||||||
Nonperforming | 5,098 | 1,814 | — | 6,912 | 6,289 | 2,682 | — | 8,971 | |||||||||||||||||||||||||
Total | $ | 1,409,130 | $ | 119,603 | $ | 52,864 | $ | 1,581,597 | $ | 1,351,776 | $ | 202,974 | $ | 99,420 | $ | 1,654,170 | |||||||||||||||||
Loan review uses a risk-focused continuous monitoring program that provides for independent, objective and timely review of credit risk within the company. | |||||||||||||||||||||||||||||||||
Below are the definitions of the Company’s internally assigned grades: | |||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
• | Pass - loans properly approved, documented, collateralized, and performing which do not reflect an abnormal credit risk. | ||||||||||||||||||||||||||||||||
• | Pass - Watch - Credits in this category are of sufficient risk to cause concern. This category is reserved for credits that display negative performance trends. The “Watch” grade should be regarded as a transition category. | ||||||||||||||||||||||||||||||||
• | Special Mention - These credits exhibit some signs of “Watch,” but to a greater magnitude. These credits constitute an undue and unwarranted credit risk, but not to a point of justifying a classification of “Substandard.” They have weaknesses that, if not checked or corrected, weaken the asset or inadequately protect the bank. | ||||||||||||||||||||||||||||||||
• | Substandard - These credits constitute an unacceptable risk to the bank. They have recognized credit weaknesses that jeopardize the repayment of the debt. Repayment sources are marginal or unclear. | ||||||||||||||||||||||||||||||||
• | Doubtful - A Doubtful credit has all of the weaknesses inherent in one classified “Substandard” with the added characteristic that weaknesses make collection in full highly questionable or improbable. | ||||||||||||||||||||||||||||||||
• | Loss - Credits classified as Loss are considered uncollectable and are charged off promptly once so classified. | ||||||||||||||||||||||||||||||||
Residential and Consumer: | |||||||||||||||||||||||||||||||||
• | Performing - Loans on which payments of principal and interest are less than 90 days past due. | ||||||||||||||||||||||||||||||||
• | Non-performing - A non-performing loan is a loan that is in default or close to being in default and there are good reasons to doubt that payments will be made in full. All loans rated as non-accrual loans are also classified as non-performing. | ||||||||||||||||||||||||||||||||
Changes in the carrying amount of acquired impaired loans and accretable yield are presented in the following table for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Covered | Non-covered | Covered | Non-covered | ||||||||||||||||||||||||||||||
Carrying | Accretable | Carrying | Accretable | Carrying | Accretable | Carrying | Accretable | ||||||||||||||||||||||||||
Amount | Yield | Amount | Yield | Amount | Yield | Amount | Yield | ||||||||||||||||||||||||||
of Loans | of Loans | of Loans | of Loans | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 515,823 | $ | 115,594 | $ | 141,201 | $ | 203,186 | $ | 671,443 | $ | 153,137 | $ | 339,452 | $ | 130,691 | |||||||||||||||||
Additions | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Payments received, net | (189,987 | ) | (1,298 | ) | (116,187 | ) | (47,330 | ) | (200,719 | ) | — | (250,338 | ) | — | |||||||||||||||||||
Accretion | 32,830 | (32,830 | ) | 43,061 | (43,061 | ) | 45,099 | (45,099 | ) | 52,087 | (52,087 | ) | |||||||||||||||||||||
(Decrease)/Increase in expected cash flows based on actual cash flow and changes in cash flow assumptions | — | (17,433 | ) | — | 3,894 | — | (19,326 | ) | — | 23,688 | |||||||||||||||||||||||
Net transfers from nonaccretable difference to accretable yield | — | 58,682 | — | 14,681 | — | 26,882 | — | 100,894 | |||||||||||||||||||||||||
Balance at end of period | $ | 358,666 | $ | 122,715 | $ | 68,075 | $ | 131,370 | $ | 515,823 | $ | 115,594 | $ | 141,201 | $ | 203,186 | |||||||||||||||||
Loans Held for Sale | |||||||||||||||||||||||||||||||||
Loans held for sale totaled $24.5 million and $50.6 million, respectively, at December 31, 2013 and 2012. Substantially all loans held for sale are residential mortgage loans originated on a best-efforts basis, whereby a commitment by a third party to purchase the loan has been received concurrent with the Banks’ commitment to the borrower to originate the loan. | |||||||||||||||||||||||||||||||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-Term Debt | ' | ||||||||
Note 5. Long-Term Debt | |||||||||
Long-term debt consisted of the following: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Subordinated notes payable | $ | 98,011 | $ | 98,011 | |||||
Term note payable | 184,800 | 220,000 | |||||||
Other long-term debt | 103,015 | 78,578 | |||||||
Total long-term debt | $ | 385,826 | $ | 396,589 | |||||
On December 21, 2012, the Company entered into a three-year term loan agreement that provides for a $220 million term loan facility, all of which was borrowed on the closing date. The agreement also provides for up to $50 million in additional borrowings under the loan facility, subject to obtaining additional commitments from existing or new lenders and satisfaction of certain other conditions. Amounts borrowed under the loan facility bear interest at a variable rate based on LIBOR plus 1.875% per annum. The loan agreement requires quarterly principal payments of $8.8 million, and outstanding borrowings may be prepaid in whole or in part at any time prior to the December 21, 2015 maturity date without premium or penalty. | |||||||||
The Company must satisfy certain financial covenants and is subject to other restrictions customary in financings of this nature, none of which is expected to adversely impact the operations of the Company. The financial covenants cover, among other things, the maintenance of minimum levels for regulatory capital ratios, consolidated net worth, consolidated return on assets, and holding company liquidity and dividend capacity, and specify a maximum ratio of consolidated nonperforming assets to consolidated total loans and other real estate, calculated without FDIC-covered assets. The Company was in compliance with all covenants as of December 31, 2013. | |||||||||
During the second quarter of 2012, the Company initiated a tender offer for up to $75 million of Whitney Bank’s subordinated debt. The 5.875% fixed-rate subordinated notes maturing in March 2017 had been issued by Whitney National Bank and were assumed by Hancock in the Whitney acquisition. During 2012, the Company repurchased approximately $52 million of these notes and incurred approximately $5.3 million in costs, including a premium of $5.1 million, which was included in noninterest expense. As of December 31, 2013, 60% of the balance of the subordinated notes qualifies as capital in the calculation of certain regulatory capital ratios. The qualifying amount will be further reduced by 20% in the second quarter of each year through maturity. | |||||||||
Substantially all of the other long-term debt consists of borrowings associated with tax credit fund activities. These borrowings mature at various dates beginning in 2015 through 2052. |
Derivatives
Derivatives | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Derivatives | ' | ||||||||||||||||||||||||||
Note 6. Derivatives | |||||||||||||||||||||||||||
Risk Management Objective of Using Derivatives | |||||||||||||||||||||||||||
The Company enters into derivative financial instruments to manage risks related to differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments, currently related to our variable rate borrowing. The Banks have also entered into interest rate derivative agreements as a service to certain qualifying customers. The Banks manage a matched book with respect to these customer derivatives in order to minimize their net risk exposure resulting from such agreements. The Banks also enter into risk participation agreements under which they may either sell or buy credit risk associated with a customer’s performance under certain interest rate derivative contracts related to loans in which participation interests have been sold to or purchased from other banks. | |||||||||||||||||||||||||||
Fair Values of Derivative Instruments on the Balance Sheet | |||||||||||||||||||||||||||
The table below presents the notional amounts and fair values (in thousands) of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets as of December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||||
Fair and Notional Values of Derivative Instruments | |||||||||||||||||||||||||||
Fair Values (1) | |||||||||||||||||||||||||||
Notional Amounts | Assets | Liabilities | |||||||||||||||||||||||||
(in thousands) | Type of | December 31, | December 31, | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||
Hedge | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||
Interest rate swaps | Cash Flow | $ | — | $ | 140,000 | $ | — | $ | — | $ | — | $ | 298 | ||||||||||||||
$ | — | $ | 140,000 | $ | — | $ | — | $ | — | $ | 298 | ||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||
Interest rate swaps (2) | N/A | $ | 650,667 | $ | 547,477 | $ | 14,147 | $ | 19,448 | $ | 13,777 | $ | 20,157 | ||||||||||||||
Risk participation agreements | N/A | 19,736 | — | 2 | — | 2 | — | ||||||||||||||||||||
Forward commitments to sell residential mortgage loans | N/A | 45,910 | 115,256 | 326 | 190 | 115 | 590 | ||||||||||||||||||||
Interest rate-lock commitments on residential mortgage loans | N/A | 25,956 | 58,135 | 56 | 455 | 107 | 55 | ||||||||||||||||||||
Foreign exchange forward contracts | N/A | 21,299 | — | 1,048 | — | 1,005 | — | ||||||||||||||||||||
$ | 763,568 | $ | 720,868 | $ | 15,579 | $ | 20,093 | $ | 15,006 | $ | 20,802 | ||||||||||||||||
-1 | Derivative assets and liabilities are reported with other assets or other liabilities, respectively, in the consolidated balance sheets. | ||||||||||||||||||||||||||
-2 | The notional amount represents both the customer accommodation agreements and offsetting agreements with unrelated financial institutions. | ||||||||||||||||||||||||||
Cash Flow Hedges of Interest Rate Risk | |||||||||||||||||||||||||||
The Company had been party to an interest rate swap agreement with a notional amount of $140 million under which the Company received interest at a variable rate and paid at a fixed rate. This derivative instrument represented by this swap agreement was designated as and qualified as a cash flow hedge of the Company’s forecasted variable cash flows under a variable-rate term borrowing agreement. The swap agreement expired in June 2013. | |||||||||||||||||||||||||||
During the term of the swap agreement, the effective portion of changes in the fair value of the derivative instrument was recorded in accumulated other comprehensive income (“AOCI”) and subsequently reclassified into earnings in the periods that the hedged forecasted variable-rate interest payments affected earnings. The impact on AOCI was insignificant during 2013 and 2012. There was no ineffective portion of the change in fair value of the derivative recognized directly in earnings. | |||||||||||||||||||||||||||
Derivatives Not Designated as Hedges | |||||||||||||||||||||||||||
Customer interest rate derivative program | |||||||||||||||||||||||||||
The Banks enter into interest rate derivative agreements, primarily rate swaps, with commercial banking customers to facilitate their risk management strategies. The Banks simultaneously enter into offsetting agreements with unrelated financial institutions, thereby mitigating their net risk exposure resulting from such transactions. Because the interest rate derivatives associated with this program do not meet hedge accounting requirements, changes in the fair value of both the customer derivatives and the offsetting derivatives are recognized directly in earnings. | |||||||||||||||||||||||||||
Risk participation agreements | |||||||||||||||||||||||||||
The Banks also enter into risk participation agreements under which they may either assume or sell credit risk associated with a borrower’s performance under certain interest rate derivative contracts. In those instances where the Banks have assumed credit risk, they are not a direct counterparty to the derivative contract with the borrower and have entered into the risk participation agreement because they are a party to the related loan agreement with the borrower. In those instances in which the Banks have sold credit risk, they are the sole counterparty to the derivative contract with the borrower and have entered into the risk participation agreement because other banks participate in the related loan agreement. The Banks manage their credit risk under risk participation agreements by monitoring the creditworthiness of the borrower, based on their normal credit review process. | |||||||||||||||||||||||||||
Mortgage banking derivatives | |||||||||||||||||||||||||||
The Banks also enter into certain derivative agreements as part of their mortgage banking activities. These agreements include interest rate lock commitments on prospective residential mortgage loans and forward commitments to sell these loans to investors on a best efforts delivery basis. | |||||||||||||||||||||||||||
Customer foreign exchange forward contract derivatives | |||||||||||||||||||||||||||
The Banks enter into foreign exchange forward derivative agreements, primarily forward currency contracts, with commercial banking customers to facilitate their risk management strategies. The Banks manage their risk exposure from such transactions by entering into offsetting agreements with unrelated financial institutions. Because the foreign exchange forward contract derivatives associated with this program do not meet hedge accounting requirements, changes in the fair value of both the customer derivatives and the offsetting derivatives are recognized directly in earnings. | |||||||||||||||||||||||||||
Effect of Derivative Instruments on the Income Statement | |||||||||||||||||||||||||||
The effect of the Company’s derivative financial instruments on the income statement was immaterial for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||||||||||||||||
Credit Risk-Related Contingent Features | |||||||||||||||||||||||||||
Certain of the Banks’ derivative instruments contain provisions allowing the financial institution counterparty to terminate the contracts in certain circumstances, such as the downgrade of the Banks’ credit ratings below specified levels, a default by the Bank on its indebtedness, or the failure of a Bank to maintain specified minimum regulatory capital ratios or its regulatory status as a well-capitalized institution. These derivative agreements also contain provisions regarding the posting of collateral by each party. As of December 31, 2013, the aggregate fair value of derivative instruments with credit-risk-related contingent features that were in a net liability position was $9.5 million, for which the Banks had posted collateral of $10.9 million. | |||||||||||||||||||||||||||
Offsetting Assets and Liabilities | |||||||||||||||||||||||||||
Offsetting information in regards to derivative assets and liabilities subject to master netting agreements at December 31, 2013 and December 31, 2012 is presented in the following tables (in thousands): | |||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||
Gross | Gross | Net | |||||||||||||||||||||||||
Amounts | Amounts | Amounts | Gross Amounts Not Offset in the | ||||||||||||||||||||||||
Recognized | Offset in | Presented | Statement of Financial Position | ||||||||||||||||||||||||
the | in the | ||||||||||||||||||||||||||
Statement | Statement | ||||||||||||||||||||||||||
of Financial | of Financial | ||||||||||||||||||||||||||
Description | Position | Position | Financial | Cash Collateral | Net | ||||||||||||||||||||||
Instruments | Amount | ||||||||||||||||||||||||||
Derivative Assets | $ | 14,149 | $ | — | $ | 14,149 | $ | 3,462 | $ | — | $ | 10,687 | |||||||||||||||
Repurchase, securities borrowing, and similar arrangements | — | — | — | — | — | — | |||||||||||||||||||||
Total | $ | 14,149 | $ | — | $ | 14,149 | $ | 3,462 | $ | — | $ | 10,687 | |||||||||||||||
Derivative Liabilities | $ | 13,779 | $ | — | $ | 13,779 | $ | 3,462 | $ | 7,406 | $ | 2,911 | |||||||||||||||
Reverse repurchase, securities lending, and similar arrangements | — | — | — | — | — | — | |||||||||||||||||||||
Total | $ | 13,779 | $ | — | $ | 13,779 | $ | 3,462 | $ | 7,406 | $ | 2,911 | |||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||
Description | Gross | Gross | Net | ||||||||||||||||||||||||
Amounts | Amounts | Amounts | Gross Amounts Not Offset in the | ||||||||||||||||||||||||
Recognized | Offset in | Presented | Statement of Financial Position | ||||||||||||||||||||||||
the | in the | ||||||||||||||||||||||||||
Statement | Statement | ||||||||||||||||||||||||||
of Financial | of Financial | ||||||||||||||||||||||||||
Position | Position | Financial | Cash Collateral | Net | |||||||||||||||||||||||
Instruments | Amount | ||||||||||||||||||||||||||
Derivative Assets | $ | 19,448 | $ | — | $ | 19,448 | $ | — | $ | — | $ | 19,448 | |||||||||||||||
Repurchase, securities borrowing, and similar arrangements | — | — | — | — | — | — | |||||||||||||||||||||
Total | $ | 19,448 | $ | — | $ | 19,448 | $ | — | $ | — | $ | 19,448 | |||||||||||||||
Derivative Liabilities | $ | 20,455 | $ | — | $ | 20,455 | $ | — | $ | 16,839 | $ | 3,616 | |||||||||||||||
Reverse repurchase, securities lending, and similar arrangements | — | — | — | — | — | — | |||||||||||||||||||||
Total | $ | 20,455 | $ | — | $ | 20,455 | $ | — | $ | 16,839 | $ | 3,616 | |||||||||||||||
Property_and_Equipment
Property and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment | ' | ||||||||
Note 7. Property and Equipment | |||||||||
Property and equipment consisted of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Land and land improvements | $ | 98,064 | $ | 121,013 | |||||
Buildings and leasehold improvements | 356,618 | 373,333 | |||||||
Furniture, fixtures and equipment | 90,948 | 99,288 | |||||||
Software | 51,924 | 28,167 | |||||||
Assets under development | 7,590 | 16,655 | |||||||
605,144 | 638,456 | ||||||||
Accumulated depreciation and amortization | (172,798 | ) | (160,592 | ) | |||||
Property and equipment, net | $ | 432,346 | $ | 477,864 | |||||
Depreciation and amortization expense was $32.1 million, $32.9 million and $24.6 million for the years ended December 31, 2013, 2012 and 2011, respectively. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Goodwill and Other Intangible Assets | ' | ||||||||||||
Note 8. Goodwill and Other Intangible Assets | |||||||||||||
Goodwill represents the excess of the consideration exchanged over the fair value of the net assets acquired in purchase business combinations. The Company tests goodwill for impairment annually and no impairment charges were identified in the most recent test as of September 30, 2013. No goodwill impairment charges were recognized during 2013, 2012, or 2011. The carrying amount of goodwill was $625.7 million and $628.9 million at December 31, 2013 and 2012, respectively. As discussed in Note 2 to the consolidated financial statements, the Company recorded approximately $589.5 million of goodwill during 2011 in connection with its acquisition of Whitney Holding Corporation. Goodwill was reduced for deferred tax purchase accounting adjustments by $3.2 million in 2013 and $22.3 million in 2012. | |||||||||||||
Identifiable intangible assets with finite lives are amortized over the periods benefited and are evaluated for impairment similar to other long-lived assets. The identifiable intangible assets recorded in connection with the Whitney acquisition during 2011 are detailed in Note 2 to the consolidated financial statements. During 2012, the Company recorded a $10.0 million customer relationship intangible in connection with the repurchase of its merchant card processing business. | |||||||||||||
The carrying value of intangible assets subject to amortization was as follows (in thousands): | |||||||||||||
December 31, 2013 | |||||||||||||
Purchase | Accumulated | Carrying | |||||||||||
Value | Amortization | Value | |||||||||||
Core deposit intangibles | $ | 198,002 | $ | 65,357 | $ | 132,645 | |||||||
Credit card and trust relationships | 22,400 | 7,800 | 14,600 | ||||||||||
Value of insurance business acquired | 2,431 | 2,232 | 199 | ||||||||||
Non-compete agreements | 400 | 300 | 100 | ||||||||||
Trade name | 11,722 | 6,729 | 4,993 | ||||||||||
Merchant processing relationships | 10,000 | 2,764 | 7,236 | ||||||||||
$ | 244,955 | $ | 85,182 | $ | 159,773 | ||||||||
31-Dec-12 | |||||||||||||
Purchase | Accumulated | Carrying | |||||||||||
Value | Amortization | Value | |||||||||||
Core deposit intangibles | $ | 200,547 | $ | 45,832 | $ | 154,715 | |||||||
Credit card and trust relationships | 22,400 | 4,980 | 17,420 | ||||||||||
Value of insurance business acquired | 2,431 | 2,084 | 347 | ||||||||||
Non-compete agreements | 400 | 100 | 300 | ||||||||||
Trade name | 11,722 | 4,124 | 7,598 | ||||||||||
Merchant processing relationships | 10,000 | 971 | 9,029 | ||||||||||
$ | 247,500 | $ | 58,091 | $ | 189,409 | ||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Aggregate amortization expense for: | |||||||||||||
Core deposit intangibles | $ | 21,905 | $ | 23,642 | $ | 14,474 | |||||||
Credit card and trust relationships | 2,819 | 3,072 | 1,908 | ||||||||||
Value of insurance business acquired | 148 | 158 | 169 | ||||||||||
Non-compete agreements | 200 | 100 | — | ||||||||||
Trade name | 2,605 | 4,124 | — | ||||||||||
Merchant processing relationships | 1,793 | 971 | — | ||||||||||
$ | 29,470 | $ | 32,067 | $ | 16,551 | ||||||||
The weighted-average remaining life of core deposit intangibles is 5 years. The weighted-average remaining life of other identifiable intangibles is 4 years. | |||||||||||||
The following table shows estimated amortization expense of other intangible assets for the five succeeding years and thereafter, calculated based on current amortization schedules (in thousands): | |||||||||||||
2014 | $ | 26,925 | |||||||||||
2015 | 24,363 | ||||||||||||
2016 | 19,872 | ||||||||||||
2017 | 17,825 | ||||||||||||
2018 | 15,773 | ||||||||||||
Thereafter | 55,015 | ||||||||||||
$ | 159,773 | ||||||||||||
Deposits
Deposits | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Banking And Thrift [Abstract] | ' | ||||
Deposits | ' | ||||
Note 9. Deposits | |||||
The maturities of time deposits at December 31, 2013 follow (in thousands): | |||||
2014 | $ | 1,561,097 | |||
2015 | 325,173 | ||||
2016 | 130,126 | ||||
2017 | 108,831 | ||||
2018 | 24,767 | ||||
Thereafter | 8,865 | ||||
Total time deposits | $ | 2,158,859 | |||
Certificates of deposits of $100,000 or more totaled approximately $0.9 billion at December 31, 2013 and $1.1 billion at December 31, 2012. Other time deposits of $100,000 or more consisted primarily of balances in treasury-management deposit products for commercial and certain other larger deposit customers. Balances maintained in such products totaled $363 million and $194 million at December 31, 2013 and 2012, respectively. Most of these deposits mature on a daily basis. |
ShortTerm_Borrowings
Short-Term Borrowings | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Short-Term Borrowings | ' | ||||||||
Note 10. Short-Term Borrowings | |||||||||
The following table presents information concerning short-term borrowings (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Federal funds purchased | |||||||||
Amount outstanding at period-end | $ | 7,725 | $ | 25,704 | |||||
Weighted average interest rate at period-end | 0.13 | % | 0.37 | % | |||||
Weighted average interest rate during the year | 0.22 | % | 0.22 | % | |||||
Average daily balance during the year | $ | 32,960 | $ | 30,137 | |||||
Maximum month end balance during the year | $ | 37,320 | $ | 33,964 | |||||
Securities sold under agreements to repurchase | |||||||||
Amount outstanding at period-end | $ | 650,235 | $ | 613,429 | |||||
Weighted average interest rate at period-end | 0.64 | % | 0.72 | % | |||||
Weighted average interest rate during the year | 0.58 | % | 0.78 | % | |||||
Average daily balance during the year | $ | 763,259 | $ | 760,938 | |||||
Maximum month end balance during the year | $ | 797,615 | $ | 1,005,014 | |||||
FHLB borrowings: | |||||||||
Amount outstanding at period-end | $ | — | $ | — | |||||
Weighted average interest rate at period-end | — | — | |||||||
Weighted average interest rate during the year | 0.18 | % | 0.16 | % | |||||
Average daily balance during the year | $ | 9,863 | $ | 32,571 | |||||
Maximum month end balance during the year | $ | — | $ | — | |||||
The Banks borrow funds on a secured basis by selling securities under agreements to repurchase, mainly in connection with treasury-management services offered to their deposit customers. Customer repurchase agreements generally mature daily. Borrowings under repurchase agreements also include certain term agreements with dealers with various maturities, all of which are callable by the dealer. The Banks have the ability to exercise legal authority over the underlying securities. Federal funds purchased represent unsecured borrowings from other banks, generally on an overnight basis. | |||||||||
The Banks have lines of credit with the Federal Home Loan Bank (FHLB) that is secured by a blanket pledge of certain mortgage loans. At December 31, 2013, the amount available under these lines was approximately $2.6 billion. The Banks also have borrowing capacity at the Federal Reserve’s discount window of approximately $0.8 billion. No amounts were borrowed under these lines at year-end 2013. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
Stockholders' Equity | ' | ||||||||||||||||||||||||
Note 11. Stockholders’ Equity | |||||||||||||||||||||||||
Stock Repurchase Program | |||||||||||||||||||||||||
The Company’s board of directors approved a stock repurchase program on April 30, 2013 that authorizes the repurchase of up to 5% of the Company’s outstanding common stock. | |||||||||||||||||||||||||
On May 8, 2013 Hancock entered into an accelerated share repurchase (ASR) transaction with Morgan Stanley & Co. LLC (Morgan Stanley). In the ASR transaction, the Company paid $115 million to Morgan Stanley and received from them approximately 2.8 million shares of Hancock common stock, representing approximately 76% of the estimated total number of shares to be repurchased. The actual number of shares to be delivered to the Company in this ASR transaction will be based generally on the volume-weighted average price per share of the Hancock common stock during the term of the ASR agreement less a specified discount and on the amount paid at inception to Morgan Stanley, subject to certain possible adjustments in accordance with the terms of the ASR agreement. Final settlement of the ASR agreement, which has not occurred, is scheduled to occur no later than May, 2014. The ASR transaction was treated as two separate transactions: (i) the acquisition of treasury shares on the date the shares were received; and (ii) a forward contract indexed to the Company’s common stock that is classified as equity. | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||||||
AOCI includes unrealized gains and losses on available for sale (“AFS”) securities. Unrealized gain (loss) on AFS securities also includes unrealized gains/losses on AFS securities that were transferred to held to maturity securities in the first quarter of 2012 and the third quarter of 2013. Such amounts will be amortized over the estimated remaining life of the security as an adjustment to yield, offsetting the related amortization of the net premium created in the transfer. Unrealized losses on employee benefit plans will be reclassified into income as pension and post retirement costs are recognized over the remaining service period of plan participants. Accumulated losses on the now expired cash flow hedge of the variable-rate term loan agreement described in Note 6 were reclassified into income over the life of the hedge. Gains and losses in AOCI are net of deferred income taxes. | |||||||||||||||||||||||||
A rollforward of the components of accumulated other comprehensive income (loss) is included as follows (in thousands): | |||||||||||||||||||||||||
Available for Sale | Held to Maturity | Employee Benefit | Loss on Effective | Total | |||||||||||||||||||||
Securities | Securities | Plans | Cash Flow | ||||||||||||||||||||||
Transferred from | Hedges | ||||||||||||||||||||||||
AFS | |||||||||||||||||||||||||
Balance, December 31, 2010 | $ | 27,232 | $ | — | $ | (27,851 | ) | $ | — | $ | (619 | ) | |||||||||||||
Other comprehensive income before income taxes: | |||||||||||||||||||||||||
Net change in unrealized gain (loss) | 52,300 | — | (94,848 | ) | (107 | ) | (42,655 | ) | |||||||||||||||||
Reclassification adjustment for net losses realized and included in earnings | 91 | — | 2,832 | — | 2,923 | ||||||||||||||||||||
Income tax expense (benefit) | 19,145 | — | (32,944 | ) | (42 | ) | (13,841 | ) | |||||||||||||||||
Balance, December 31, 2011 | 60,478 | — | (86,923 | ) | (65 | ) | (26,510 | ) | |||||||||||||||||
Other comprehensive income before income taxes: | |||||||||||||||||||||||||
Net change in unrealized gain (loss) | 6,076 | — | 2,566 | (502 | ) | 8,140 | |||||||||||||||||||
Transfer of net unrealized gain from AFS to HTM, net of cummulative tax effect | (24,598 | ) | 24,598 | — | — | — | |||||||||||||||||||
Reclassification adjustment for net losses realized and included in earnings | (1,441 | ) | — | 7,457 | 311 | 6,327 | |||||||||||||||||||
Amortization of unrealized net gain on securities transferred to held-to-maturity | — | (8,752 | ) | — | — | (8,752 | ) | ||||||||||||||||||
Income tax expense (benefit) | 1,661 | (3,244 | ) | 3,788 | (75 | ) | 2,130 | ||||||||||||||||||
Balance, December 31, 2012 | 38,854 | 19,090 | (80,688 | ) | (181 | ) | (22,925 | ) | |||||||||||||||||
Other comprehensive income before income taxes: | |||||||||||||||||||||||||
Net change in unrealized gain (loss) | (105,270 | ) | — | 82,653 | (4 | ) | (22,621 | ) | |||||||||||||||||
Transfer of net unrealized gain from AFS to HTM, net of cummulative tax effect | 36,208 | (36,208 | ) | — | — | — | |||||||||||||||||||
Reclassification adjustment for net losses realized and included in earnings | (105 | ) | — | 8,331 | 301 | 8,527 | |||||||||||||||||||
Amortization of unrealized net gain on securities transferred to held-to-maturity | — | (6,371 | ) | — | — | (6,371 | ) | ||||||||||||||||||
Income tax expense (benefit) | (38,576 | ) | (2,300 | ) | 32,749 | 116 | (8,011 | ) | |||||||||||||||||
Balance, December 31, 2013 | $ | 8,263 | $ | (21,189 | ) | $ | (22,453 | ) | $ | — | $ | (35,379 | ) | ||||||||||||
The following table shows the line items in the consolidated income statements affected by amounts reclassified from accumulated other comprehensive income: | |||||||||||||||||||||||||
Twelve Months Ended December 31, | |||||||||||||||||||||||||
Amount reclassified from AOCI (in thousands) | 2013 | 2012 | Increase (decrease) in affected line | ||||||||||||||||||||||
item in the income statement | |||||||||||||||||||||||||
Gains and losses on sale of AFS securities | $ | (105 | ) | $ | (1,441 | ) | Securities gains (losses) | ||||||||||||||||||
Tax effect | (37 | ) | (504 | ) | Income taxes | ||||||||||||||||||||
Net of tax | (68 | ) | (937 | ) | Net income | ||||||||||||||||||||
Amortization/accretion of unrealized net gain/loss on securities transferred to HTM | $ | (6,371 | ) | $ | (8,752 | ) | Interest income | ||||||||||||||||||
Tax effect | (2,230 | ) | (3,063 | ) | Income taxes | ||||||||||||||||||||
Net of tax | (4,141 | ) | (5,689 | ) | Net income | ||||||||||||||||||||
Amortization of defined benefit pension and post-retirement items | $ | 8,331 | $ | 7,457 | (a) Employee benefits expense | ||||||||||||||||||||
Tax effect | 2,916 | 2,610 | Income taxes | ||||||||||||||||||||||
Net of tax | 5,415 | 4,847 | Net income | ||||||||||||||||||||||
Gains and losses on cash flow hedges | $ | 301 | $ | 311 | Interest expense | ||||||||||||||||||||
Tax effect | 105 | 109 | Income taxes | ||||||||||||||||||||||
Net of tax | 196 | 202 | Net income | ||||||||||||||||||||||
Total reclassifications, net of tax | $ | 1,402 | $ | (1,577 | ) | Net income | |||||||||||||||||||
(a) | These accumulated other comprehensive income components are included in the computation of net periodic pension and post-retirement cost that is reported with employee benefits expense (see footnote 12 for additional details). | ||||||||||||||||||||||||
Note: Tax effect calculated using 35% rate. | |||||||||||||||||||||||||
Regulatory Capital | |||||||||||||||||||||||||
Measures of regulatory capital are an important tool used by regulators to monitor the financial health of financial institutions. The primary quantitative measures used to gauge capital adequacy are the Tier 1 regulatory capital to risk-weighted assets (risk-based capital ratios) and the Tier 1 capital to average total assets (leverage ratio). Both the Company and its bank subsidiaries are required to maintain minimum risk-based capital ratios of 8.0% total regulatory capital and 4.0% Tier 1 capital. The minimum leverage ratio is 3.0% for bank holding companies and banks that meet certain specified criteria, including having the highest supervisory rating. All others are required to maintain a leverage ratio of at least 4.0%. | |||||||||||||||||||||||||
To evaluate capital adequacy, regulators compare an institution’s regulatory capital ratios with their agency guidelines, as well as with the guidelines established as part of the uniform regulatory framework for prompt corrective supervisory action toward financial institutions. The framework for prompt corrective action categorizes capital levels into one of five classifications rating from well-capitalized to critically under-capitalized. For an institution to be eligible to be classified as well capitalized its total risk-based capital ratios must be at least 10.0% for total capital and 6.0% for Tier 1 capital, and its leverage ratio must be at least 5.0%. In reaching an overall conclusion on capital adequacy or assigning a classification under the uniform framework, regulators must also consider other subjective and quantitative measures of risk associated with an institution. The subsidiary banks were deemed to be well capitalized based upon the most recent notifications from their regulators. There are no conditions or events since those notifications that management believes would change these classifications. At December 31, 2013 and 2012, the Company and the Banks were in compliance with all of their respective minimum regulatory capital requirements. | |||||||||||||||||||||||||
Following is a summary of the actual regulatory capital amounts and ratios for the Company and the Banks together with corresponding regulatory capital requirements at December 31, 2013 and 2012 (amounts in thousands): | |||||||||||||||||||||||||
Actual | Required for Minimum | To Be Well Capitalized | |||||||||||||||||||||||
Capital Adequacy | Under Prompt | ||||||||||||||||||||||||
Corrective Action | |||||||||||||||||||||||||
Provisions | |||||||||||||||||||||||||
Amount | Ratio % | Amount | Ratio % | Amount | Ratio % | ||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||
Total capital (to risk weighted assets) | |||||||||||||||||||||||||
Company | $ | 1,877,832 | 13.11 | $ | 1,146,061 | 8 | $ | n/a | n/a | ||||||||||||||||
Hancock Bank | 636,871 | 13.48 | 378,093 | 8 | 472,617 | 10 | |||||||||||||||||||
Whitney Bank | 1,187,699 | 12.25 | 775,709 | 8 | 969,636 | 10 | |||||||||||||||||||
Tier 1 capital (to risk weighted assets) | |||||||||||||||||||||||||
Company | $ | 1,685,058 | 11.76 | $ | 573,030 | 4 | $ | n/a | n/a | ||||||||||||||||
Hancock Bank | 577,280 | 12.21 | 189,047 | 4 | 283,570 | 6 | |||||||||||||||||||
Whitney Bank | 1,088,339 | 11.22 | 387,854 | 4 | 581,782 | 6 | |||||||||||||||||||
Tier 1 leverage capital | |||||||||||||||||||||||||
Company | $ | 1,685,058 | 9.34 | $ | 541,066 | 3 | $ | n/a | n/a | ||||||||||||||||
Hancock Bank | 577,280 | 9.01 | 192,137 | 3 | 320,228 | 5 | |||||||||||||||||||
Whitney Bank | 1,088,339 | 9.02 | 361,878 | 3 | 603,129 | 5 | |||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||
Total capital (to risk weighted assets) | |||||||||||||||||||||||||
Company | $ | 1,881,558 | 14.28 | $ | 1,053,781 | 8 | $ | n/a | n/a | ||||||||||||||||
Hancock Bank | 643,202 | 14.39 | 357,687 | 8 | 447,109 | 10 | |||||||||||||||||||
Whitney Bank | 1,242,608 | 14.25 | 697,528 | 8 | 871,910 | 10 | |||||||||||||||||||
Tier 1 capital (to risk weighted assets) | |||||||||||||||||||||||||
Company | $ | 1,666,042 | 12.65 | $ | 526,890 | 4 | $ | n/a | n/a | ||||||||||||||||
Hancock Bank | 586,623 | 13.12 | 178,843 | 4 | 268,265 | 6 | |||||||||||||||||||
Whitney Bank | 1,122,341 | 12.87 | 348,764 | 4 | 523,146 | 6 | |||||||||||||||||||
Tier 1 leverage capital | |||||||||||||||||||||||||
Company | $ | 1,666,042 | 9.1 | $ | 549,185 | 3 | $ | n/a | n/a | ||||||||||||||||
Hancock Bank | 586,623 | 9.13 | 192,733 | 3 | 321,221 | 5 | |||||||||||||||||||
Whitney Bank | 1,122,341 | 9.24 | 364,540 | 3 | 607,567 | 5 | |||||||||||||||||||
Regulatory Restrictions on Dividends | |||||||||||||||||||||||||
Regulatory policy statements provide that generally bank holding companies should pay dividends only out of current operating earnings and that the level of dividends must be consistent with current and expected capital requirements. Dividends received from its subsidiary banks have been the primary source of funds available to the Company for the payment of dividends to Hancock’s stockholders. Federal and state banking laws and regulations restrict the amount of dividends the subsidiary banks may distribute to Hancock without prior regulatory approval, as well as the amount of loans they may make to the Company. Dividends paid by Hancock Bank are subject to approval by the Commissioner of Banking and Consumer Finance of the State of Mississippi and those paid by Whitney Bank are subject to approval by the Commissioner of Financial Institutions of the State of Louisiana. |
Retirement_Benefit_Plans
Retirement Benefit Plans | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Retirement Benefit Plans | ' | ||||||||||||||||||||||||
Note 12. Retirement Benefit Plans | |||||||||||||||||||||||||
Pension Plans - Defined Benefit | |||||||||||||||||||||||||
Effective January 1, 2013, the Company adopted one qualified defined benefit pension plan covering all eligible associates. Eligibility is based on minimum age and service-related requirements. The consolidated plan replaced the separate qualified plans covering legacy Hancock associates (Hancock Plan) and legacy Whitney associates (Whitney Plan). The new qualified plan terms are substantially the same for legacy Hancock associates as those in effect at December 31, 2012 under the Hancock Plan. Retirement benefits for eligible legacy Whitney associates under the new plan will be based on the employee’s accrued benefit under the Whitney Plan as of December 31, 2012 plus any benefit accrued under the new plan based on years of service and compensation beginning in 2013. The Whitney Plan had been closed to new participants since 2008, and benefit accruals had been frozen for all participants other than those meeting certain vesting, age and years of service criteria as of December 31, 2008. | |||||||||||||||||||||||||
Certain legacy Whitney associates were also covered by an unfunded nonqualified defined benefit pension plan that provides retirement benefits to designated executive officers. Accrued benefits under the nonqualified plan covering certain legacy Whitney associates were frozen as of December 31, 2012 and no future benefits will be accrued under this plan. These benefits are calculated using the qualified plan’s formula, but without applying the restrictions imposed on qualified plans by certain provisions of the Internal Revenue Code. Benefits that become payable under the nonqualified plan supplement amounts paid from the qualified plan. The Whitney plan has been closed to new participants since 2008, and benefit accruals have been frozen for all participants other than those who met certain vesting, age and years of service criteria as of December 31, 2008. | |||||||||||||||||||||||||
The Company makes contributions to the qualified pension plans in amounts sufficient to meet funding requirements set forth in federal employee benefit and tax laws, plus such additional amounts as the Company may determine to be appropriate. Based on currently available information, Hancock does not anticipate making a contribution to the pension plan during 2014. | |||||||||||||||||||||||||
The following tables detail the changes in the benefit obligations and plan assets of the combined qualified plans and for the nonqualified plan for the years ended December 31, 2013 and 2012 as well as the funded status of the plans at each year end and the amounts recognized in the Company’s balance sheets (in thousands). The Company uses a December 31 measurement date for all defined benefit pension plans and other postretirement benefit plans. | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Qualified | Non- | Qualified | Non- | ||||||||||||||||||||||
qualified | qualified | ||||||||||||||||||||||||
Change in benefit obligation | |||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 420,239 | $ | 16,865 | $ | 399,508 | $ | 15,934 | |||||||||||||||||
Service cost | 16,118 | — | 12,940 | 49 | |||||||||||||||||||||
Interest cost | 16,057 | 621 | 16,518 | 688 | |||||||||||||||||||||
Actuarial loss | (40,551 | ) | (1,040 | ) | 4,131 | 1,401 | |||||||||||||||||||
Benefits paid | (14,578 | ) | (1,123 | ) | (12,858 | ) | (1,207 | ) | |||||||||||||||||
Benefit obligation, end of year | 397,285 | 15,323 | 420,239 | 16,865 | |||||||||||||||||||||
Change in plan assets | |||||||||||||||||||||||||
Fair value of plan assets at beginning of year | 379,133 | — | 328,060 | — | |||||||||||||||||||||
Actual return on plan assets | 63,695 | — | 38,464 | — | |||||||||||||||||||||
Employer contributions | 10,000 | 1,123 | 26,000 | 1,207 | |||||||||||||||||||||
Benefit payments | (14,578 | ) | (1,123 | ) | (12,858 | ) | (1,207 | ) | |||||||||||||||||
Expenses | (421 | ) | — | (533 | ) | — | |||||||||||||||||||
Fair value of plan assets, end of year | 437,829 | — | 379,133 | — | |||||||||||||||||||||
Funded status at end of year - net asset/(liability) | $ | 40,544 | $ | (15,323 | ) | $ | (41,106 | ) | $ | (16,865 | ) | ||||||||||||||
Amounts recognized in accumulated other comprehensive loss | |||||||||||||||||||||||||
Unrecognized loss at beginning of year: | $ | 108,852 | $ | 2,942 | $ | 123,780 | $ | 1,597 | |||||||||||||||||
Amount of (loss)/gain recognized during the year | (6,516 | ) | (54 | ) | (6,526 | ) | (56 | ) | |||||||||||||||||
Net actuarial (gain)/loss | (75,898 | ) | (1,041 | ) | (8,402 | ) | 1,401 | ||||||||||||||||||
Unrecognized loss at end of year | $ | 26,438 | $ | 1,847 | $ | 108,852 | $ | 2,942 | |||||||||||||||||
December 31 | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Projected benefit obligation | $ | 412,608 | $ | 437,104 | |||||||||||||||||||||
Accumulated benefit obligation | 379,607 | 395,543 | |||||||||||||||||||||||
Fair value of plan assets | 437,829 | 379,133 | |||||||||||||||||||||||
The following table shows net periodic benefit cost included in expense and the changes in the amounts recognized in accumulated other comprehensive income during 2013 and 2012 (in thousands). Recognition of the net actuarial loss included in accumulated other comprehensive income is not required when the loss is less than ten percent of the projected benefit obligation or fair value of plan assets. Accordingly, Hancock will not recognize a material amount of the losses at December 31, 2013 as a component of net pension expense in 2014. | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Qualified | Non- | Qualified | Non- | Qualified | Non- | ||||||||||||||||||||
qualified | qualified | qualified | |||||||||||||||||||||||
Net periodic benefit cost | |||||||||||||||||||||||||
Service cost | $ | 16,118 | $ | — | $ | 12,940 | $ | 49 | $ | 8,440 | $ | 27 | |||||||||||||
Interest cost | 16,057 | 621 | 16,518 | 688 | 12,117 | 438 | |||||||||||||||||||
Expected return on plan assets | (27,928 | ) | — | (25,398 | ) | — | (15,118 | ) | — | ||||||||||||||||
Recognized net amortization and deferral | 6,516 | 54 | 6,526 | 56 | 2,343 | — | |||||||||||||||||||
Net periodic benefit cost | 10,763 | 675 | 10,586 | 793 | 7,782 | 465 | |||||||||||||||||||
Other changes in plan assets and benefit obligations recognized in other comprehensive income, before taxes | |||||||||||||||||||||||||
Net (loss)/gain recognized during the year | (6,516 | ) | (54 | ) | (6,526 | ) | (56 | ) | (2,343 | ) | — | ||||||||||||||
Net actuarial loss/(gain) | (75,898 | ) | (1,041 | ) | (8,402 | ) | 1,401 | 87,313 | 1,597 | ||||||||||||||||
Total recognized in other comprehensive income | (82,414 | ) | (1,095 | ) | (14,928 | ) | 1,345 | 84,970 | 1,597 | ||||||||||||||||
Total recognized in net periodic benefit cost and other comprehensive income | $ | (71,651 | ) | $ | (420 | ) | $ | (4,342 | ) | $ | 2,138 | $ | 92,752 | $ | 2,062 | ||||||||||
Weighted average assumptions as of measurement date | |||||||||||||||||||||||||
Discount rate for benefit obligations: | 4.73 | % | 4.73 | % | 3.82 | % | 3.87 | % | 4.32 | % | 4.31 | % | |||||||||||||
Discount rate for net periodic benefit cost: | 3.87 | % | 3.87 | % | 4.32 | % | 4.31 | % | 5.39 | % | 5.35 | % | |||||||||||||
Expected long-term return on plan assets: | 7.5 | % | n/a | 7.5 | % | n/a | 7.5 | % | n/a | ||||||||||||||||
Rate of compensation increase: | 4 | % | 4 | % | 3.73 | % | 3.58 | % | 3.72 | % | 3.58 | % | |||||||||||||
The long term rate of return on plan assets is determined by using the weighted-average of historical real returns for major asset classes based on target asset allocations. At December 31, 2013 and 2012, the discount rate was calculated by matching expected future cash flows to the Citigroup Pension Discount Curve Liability Index. | |||||||||||||||||||||||||
The following shows expected pension plan benefit payments over the next ten years (in thousands): | |||||||||||||||||||||||||
Qualified | Nonqualified | Total | |||||||||||||||||||||||
2014 | $ | 16,065 | $ | 1,117 | $ | 17,182 | |||||||||||||||||||
2015 | 16,868 | 1,117 | 17,985 | ||||||||||||||||||||||
2016 | 17,656 | 1,128 | 18,784 | ||||||||||||||||||||||
2017 | 18,371 | 1,149 | 19,520 | ||||||||||||||||||||||
2018 | 19,076 | 1,144 | 20,220 | ||||||||||||||||||||||
2019-2023 | 105,048 | 5,586 | 110,634 | ||||||||||||||||||||||
$ | 193,084 | $ | 11,241 | $ | 204,325 | ||||||||||||||||||||
The expected benefit payments are estimated based on the same assumptions used to measure the Company’s benefit obligations at December 31, 2013. | |||||||||||||||||||||||||
The fair values of pension plan assets at December 31, 2013 and 2012, by asset category, are shown in the following tables (in thousands). | |||||||||||||||||||||||||
Asset Category / Fund | Total | Quoted Prices in | Significant | Significant | |||||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||||||
(Level 1) | |||||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 | |||||||||||||||||||||||||
Cash and cash-equivalents: | |||||||||||||||||||||||||
Cash and equivalents | $ | 5,683 | $ | 5,682 | $ | — | $ | — | |||||||||||||||||
Hancock Horizon Government Money Market Fund | 9,531 | 9,531 | — | — | |||||||||||||||||||||
Total cash and cash-equivalents | 15,214 | 15,213 | — | — | |||||||||||||||||||||
Fixed income: | |||||||||||||||||||||||||
US government and agency securities | 21,485 | 4,383 | 17,102 | — | |||||||||||||||||||||
Municipal securities | 40,476 | — | 40,476 | — | |||||||||||||||||||||
Hancock Horizon Strategic Income Bond Fund | 59,674 | 59,674 | — | — | |||||||||||||||||||||
Corporate debt | 43,440 | 6,923 | 36,517 | — | |||||||||||||||||||||
Total fixed income | 165,075 | 70,980 | 94,095 | — | |||||||||||||||||||||
Equity: | |||||||||||||||||||||||||
Hancock Horizon Quantitative Long/Short Fund | 6,593 | 6,593 | — | — | |||||||||||||||||||||
Hancock Horizon Diversified International Fund | 26,072 | 26,072 | — | — | |||||||||||||||||||||
Hancock Horizon Burkenroad Small Cap Fund | 4,108 | 4,108 | — | — | |||||||||||||||||||||
Hancock Horizon Growth Fund | 27,847 | 27,847 | — | — | |||||||||||||||||||||
Hancock Horizon Diversified Value Fund | 34,216 | 34,216 | — | — | |||||||||||||||||||||
Hancock Horizon Diversified Income Fund | 8,758 | 8,758 | — | — | |||||||||||||||||||||
Equity securities | 149,946 | 149,946 | — | — | |||||||||||||||||||||
Total Equity | 257,540 | 257,540 | — | — | |||||||||||||||||||||
TOTAL | $ | 437,829 | $ | 343,733 | $ | 94,095 | $ | — | |||||||||||||||||
Asset Category | Total | Quoted Prices in | Significant | Significant | |||||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||||||
(Level 1) | |||||||||||||||||||||||||
Fair Value Measurements at December 31, 2012 | |||||||||||||||||||||||||
Cash and cash-equivalents: | |||||||||||||||||||||||||
Cash and equivalents | $ | 4,850 | $ | 4,850 | $ | — | $ | — | |||||||||||||||||
Hancock Horizon Government Money Market Fund | 1,596 | 1,596 | — | — | |||||||||||||||||||||
Total cash and cash-equivalents | 6,446 | 6,446 | — | — | |||||||||||||||||||||
Fixed income: | |||||||||||||||||||||||||
US government and agency securities | 54,246 | 10,405 | 43,841 | — | |||||||||||||||||||||
Municipal securities | — | — | — | — | |||||||||||||||||||||
Hancock Horizon Strategic Income Bond Fund | 49,192 | 49,192 | — | — | |||||||||||||||||||||
Corporate debt | 39,273 | — | 39,273 | — | |||||||||||||||||||||
Total fixed income | 142,711 | 59,597 | 83,114 | — | |||||||||||||||||||||
Equity: | |||||||||||||||||||||||||
Hancock Horizon Quantitative Long/Short Fund | 7,481 | 7,481 | — | — | |||||||||||||||||||||
Hancock Horizon Diversified International Fund | 32,984 | 32,984 | — | — | |||||||||||||||||||||
Hancock Horizon Burkenroad Small Cap Fund | 3,863 | 3,863 | — | — | |||||||||||||||||||||
Hancock Horizon Growth Fund | 27,332 | 27,332 | — | — | |||||||||||||||||||||
Hancock Horizon Diversified Value Fund | 28,543 | 28,543 | — | — | |||||||||||||||||||||
Hancock Horizon Diversified Income Fund | — | — | — | — | |||||||||||||||||||||
Equity securities | 129,773 | 129,773 | — | — | |||||||||||||||||||||
Total Equity | 229,976 | 229,976 | — | — | |||||||||||||||||||||
TOTAL | $ | 379,133 | $ | 296,019 | $ | 83,114 | $ | — | |||||||||||||||||
The percentage allocations of the plan assets by asset category and corresponding target allocations at December 31, 2013 and 2012 follow: | |||||||||||||||||||||||||
Plan Assets | Target Allocation at | ||||||||||||||||||||||||
at December 31, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Asset category | |||||||||||||||||||||||||
Equity securities | 59 | % | 61 | % | 30 – 70 | % | 40 – 70 | % | |||||||||||||||||
Fixed income securities | 38 | % | 37 | % | 25 – 65 | % | 30 – 60 | % | |||||||||||||||||
Real Assets | 0 | % | 0 | % | 0 – 10 | % | — | ||||||||||||||||||
Cash equivalents | 3 | % | 2 | % | 0 – 5 | % | 0 – 10 | % | |||||||||||||||||
100 | % | 100 | % | ||||||||||||||||||||||
Plan assets are invested in long-term strategies and evaluated within the context of a long-term investment horizon. Plan assets will be diversified across multiple asset classes so as to minimize the risk of large losses. Short-term fluctuations in value will be considered secondary to long-term results. The Company employs a total return approach whereby a diversified mix of asset class investments are used to maximize the long-term return of plan assets for an acceptable level of risk. Risk tolerance is established through careful consideration of the plan liabilities, plan funded status and the Company’s financial condition. The investment performance of the plan is regularly monitored to ensure that appropriate risk levels are being taken and to evaluate returns versus a suitable market benchmark. The pension plan investment committee meets periodically to review the policy, strategy, and performance of the plans. | |||||||||||||||||||||||||
Pension Plans - Defined Contribution | |||||||||||||||||||||||||
Effective January 1, 2013, the Company also combined the Hancock and Whitney defined contribution retirement benefit plans (401(k) plans). The combined plan covers substantially all associates who have been employed 60 days and meet certain other requirements and employment classification criteria. Under the combined plan, the Company matches 100% of the first 1% of compensation saved by a participant, and 50% of the next 5% of compensation saved. Under the prior Hancock 401(k) plan, the Company matched 50% of a participant’s savings up to 6% of compensation, while under the prior Whitney 401(k) plan, the Company matched 100% of a participant’s savings up to 4% of compensation. The Company could also make a discretionary profit sharing contribution under the Whitney plan on behalf of participants who were either ineligible to participate in the Whitney qualified defined-benefit pension plan or subject to the freeze in benefit accruals under that plan. With the adoption of the new qualified pension plan discussed above and the combined 401(k) plan, the discretionary profit-sharing contribution is no longer available for plan years beginning in 2013. Newly eligible associates are automatically enrolled at an initial 3% savings rate unless the associate actively opts out of participation in the plan. | |||||||||||||||||||||||||
The expense of the Company’s matching contributions to the 401(k) plan was $7.0 million in 2013 and $6.1 million in 2012. The discretionary profit-sharing contribution under the legacy Whitney plan was $2.9 million for 2012. | |||||||||||||||||||||||||
Health and Welfare Plans - Defined Benefit | |||||||||||||||||||||||||
The Company also sponsors defined benefit postretirement plans for both legacy Hancock and legacy Whitney associates. The Hancock plans provide health care and life insurance benefits to retiring associates who participate in medical and/or group life insurance benefit plans for active associates at the time of retirement and have reached 55 years of age with ten years of service or age 65 with five years of service. The postretirement health care plan is contributory, with retiree contributions adjusted annually and subject to certain employer contribution maximums. Neither Hancock plan is available to associates hired on or after January 1, 2000. | |||||||||||||||||||||||||
The legacy Whitney plans offer health care and life insurance benefit plans for retirees and their eligible dependents. Participant contributions are required under the health plan. Currently, these plans restrict eligibility for postretirement health benefits to retirees already receiving benefits as of the plan amendments in 2007 and to those active participants who were eligible to receive benefits as of December 31, 2007. Life insurance benefits are currently only available to associates who retired before December 31, 2007. | |||||||||||||||||||||||||
The following table details the changes in the benefit obligation of the postretirement plans for the years ended December 31, 2013 and 2012, as well as the funded status of the plans at each year end and the amounts recognized in the Company’s consolidated balance sheets (in thousands). | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Change in postretirement benefit obligation | |||||||||||||||||||||||||
Projected postretirement benefit at beginning of year | $ | 37,831 | $ | 34,107 | |||||||||||||||||||||
Service cost | 215 | 192 | |||||||||||||||||||||||
Interest cost | 1,317 | 1,337 | |||||||||||||||||||||||
Plan participants’ contributions | 1,355 | 1,419 | |||||||||||||||||||||||
Actuarial loss (gain) | (5,563 | ) | 4,435 | ||||||||||||||||||||||
Benefit payments | (3,563 | ) | (3,659 | ) | |||||||||||||||||||||
Projected postretirement benefit obligation, end of year | 31,592 | 37,831 | |||||||||||||||||||||||
Change in plan assets | |||||||||||||||||||||||||
Plan assets, beginning of year | — | — | |||||||||||||||||||||||
Employer contributions | 2,208 | 2,240 | |||||||||||||||||||||||
Plan participants’ contributions | 1,355 | 1,419 | |||||||||||||||||||||||
Benefit payments | (3,563 | ) | (3,659 | ) | |||||||||||||||||||||
Plan assets, end of year | — | — | |||||||||||||||||||||||
Funded status at end of year - net liability | $ | (31,592 | ) | $ | (37,831 | ) | |||||||||||||||||||
Amounts recognized in accumulated other comprehensive loss | |||||||||||||||||||||||||
Unrecognized loss at beginning of year | $ | 14,513 | $ | 10,996 | |||||||||||||||||||||
Amount of (loss)/gain recognized during the year | (1,761 | ) | (918 | ) | |||||||||||||||||||||
Net actuarial loss/(gain) | (5,563 | ) | 4,435 | ||||||||||||||||||||||
Unrecognized loss at end of year | $ | 7,189 | $ | 14,513 | |||||||||||||||||||||
The weighted average discount rates used for the determination of the projected postretirement benefit obligation were 4.58% in 2013 and 3.69% in 2012. | |||||||||||||||||||||||||
The following table shows the composition of net periodic postretirement benefit cost (in thousands): | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Net periodic postretirement benefit cost | |||||||||||||||||||||||||
Service cost | $ | 215 | $ | 192 | $ | 137 | |||||||||||||||||||
Interest costs | 1,317 | 1,337 | 1,091 | ||||||||||||||||||||||
Amortization of net loss | 1,761 | 966 | 538 | ||||||||||||||||||||||
Amortization of prior service cost | — | (48 | ) | (48 | ) | ||||||||||||||||||||
Net periodic postretirement benefit cost | 3,293 | 2,447 | 1,718 | ||||||||||||||||||||||
Other changes in plan assets and benefit obligations recognized in other comprehensive income, before taxes | |||||||||||||||||||||||||
Amount of loss recognized during the year | (1,761 | ) | (966 | ) | (538 | ) | |||||||||||||||||||
Net actuarial (gain)/loss | (5,563 | ) | 4,435 | 5,938 | |||||||||||||||||||||
Amortization of prior service cost | — | 48 | 48 | ||||||||||||||||||||||
Total recognized in other comprehensive income | (7,324 | ) | 3,517 | 5,448 | |||||||||||||||||||||
Total recognized in net periodic benefit cost and other comprehensive income | $ | (4,031 | ) | $ | 5,964 | $ | 7,166 | ||||||||||||||||||
The Company assumed certain trends in health care costs in the determination of the benefit obligations. At December 31, 2013, the plans assumed a 7.0% increase in the pre- and post-Medicare age health costs for 2014, declining over a period of four years to a 5.0% annual rate. At December 31, 2013, the mortality projection scale was changed from Scale AA to Scale BB. Otherwise, the plan assumptions were substantially the same as in 2012. | |||||||||||||||||||||||||
The following table illustrates the effect on the annual periodic postretirement benefit costs and postretirement benefit obligation of a 1% increase or 1% decrease in the assumed health care cost trend rates from the rates assumed at December 31, 2013: | |||||||||||||||||||||||||
1% Decrease | Assumed | 1% Increase | |||||||||||||||||||||||
in Rates | Rates | in Rates | |||||||||||||||||||||||
Aggregated service and interest cost | $ | 1,325 | $ | 1,531 | $ | 1,785 | |||||||||||||||||||
Postretirement benefit obligation | 28,112 | 31,592 | 35,791 | ||||||||||||||||||||||
Expected benefits to be paid over the next ten years are reflected in the following table (in thousands): | |||||||||||||||||||||||||
2014 | $ | 2,091 | |||||||||||||||||||||||
2015 | 1,973 | ||||||||||||||||||||||||
2016 | 1,918 | ||||||||||||||||||||||||
2017 | 1,785 | ||||||||||||||||||||||||
2018 | 1,720 | ||||||||||||||||||||||||
2019-2023 | 8,680 | ||||||||||||||||||||||||
$ | 18,167 | ||||||||||||||||||||||||
ShareBased_Payment_Arrangement
Share-Based Payment Arrangements | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Share-Based Payment Arrangements | ' | ||||||||||||||||
Note 13. Share-Based Payment Arrangements | |||||||||||||||||
Hancock maintains incentive compensation plans that incorporate share-based payment arrangements for associates and directors. The most recent plan was approved by the Company’s stockholders in 2005 (the “Plan”). The Compensation Committee of the Company’s Board of Directors administers the Plan, makes determinations with respect to participation by employees or directors and authorizes share-based awards under the Plan. Under the Plan, participants may be awarded stock options (including incentive stock options for associates), restricted shares, performance stock awards and stock appreciation rights, all on a stand-alone, combination or tandem basis. To date, the Committee has awarded stock options, tenure-based restricted shares and performance stock awards. | |||||||||||||||||
The Plan authorizes the issuance of an aggregate of 5,000,000 shares of the Company’s common stock pursuant to awards under the Plan. The Plan limits the number of shares for which awards may be granted during any calendar year to 2% of the outstanding common stock reported at the end of the previous fiscal year, plus any unused portion of the annual limit for the prior year and subject to certain other adjustments. At December 31, 2013 there were 1.8 million shares available for future issuance under equity compensation plans. Whitney options converted at the acquisition date do not count against the number of shares available for future issuance. The Company may use authorized unissued shares or shares held in treasury to satisfy awards under the Plan. | |||||||||||||||||
For the years ended December 31, 2013, 2012 and 2011 total share-based compensation recognized in income was $13.1 million, $11.0 million and $7.2 million, respectively. The total recognized tax benefit related to the share-based compensation was $4.6 million, $3.9 million and $2.5 million, respectively, for 2013, 2012 and 2011. | |||||||||||||||||
A summary of option activity for 2013 is presented below: | |||||||||||||||||
Options | Number of | Weighted- | Weighted- | Aggregate | |||||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price ($) | Contractual | $0 | |||||||||||||||
Term | |||||||||||||||||
(Years) | |||||||||||||||||
Outstanding at January 1, 2013 | 1,555,296 | $ | 38.57 | ||||||||||||||
Granted | — | ||||||||||||||||
Exercised | (96,428 | ) | 28.35 | ||||||||||||||
Forfeited or expired | (126,212 | ) | 43.48 | ||||||||||||||
Outstanding at December 31, 2013 | 1,332,656 | $ | 38.85 | 4.7 | $ | 3,840 | |||||||||||
Exercisable at December 31, 2013 | 1,017,709 | $ | 41.28 | 3.8 | $ | 2,005 | |||||||||||
The exercise price for stock options is set at the closing market price of the Company’s stock on the date immediately preceding the date of grant, except for the exercise price of certain options granted to major stockholders which is set at 110% of the market price. Option awards generally vest equally over five years of continuous service and have ten-year contractual terms. | |||||||||||||||||
The total intrinsic value of options exercised during 2013, 2012 and 2011 was $0.6 million, $0.8 million, and $0.3 million, respectively. | |||||||||||||||||
The weighted-average grant-date fair values of options awarded during 2012 and 2011 were $8.43, and $8.64, respectively. There were no options granted in 2013. The fair value of each option award was estimated as of the grant date using the Black-Scholes-Merton option-pricing model. The significant assumptions made in applying the option-pricing model are noted in the following table. Expected volatilities are based on implied volatilities from traded options on the Company’s stock, historical volatility of the Company’s stock and other factors. The expected term of options granted was derived from the output of the option valuation model and represents the period of time that options granted are expected to be outstanding. | |||||||||||||||||
2012 | 2011 | ||||||||||||||||
Expected volatility | 38.64 | % | 38.9 | % | |||||||||||||
Expected dividends | 3.23 | % | 3.2 | % | |||||||||||||
Expected term (in years) | 6.58 | 6.38 | |||||||||||||||
Risk-free rates | 1.78 | % | 1.99 | % | |||||||||||||
There were no options granted in 2013. | |||||||||||||||||
A summary of the status of the Company’s nonvested restricted and performance shares as of December 31, 2013 and changes during 2013 are presented below: | |||||||||||||||||
Number of | Weighted- | ||||||||||||||||
Shares | Average | ||||||||||||||||
Grant-Date | |||||||||||||||||
Fair Value ($) | |||||||||||||||||
Nonvested at January 1, 2013 | 1,683,146 | $ | 31.56 | ||||||||||||||
Granted | 558,738 | 33.15 | |||||||||||||||
Vested | (95,247 | ) | 37.66 | ||||||||||||||
Cancelled/Forfeited | (164,817 | ) | 31.14 | ||||||||||||||
Nonvested at December 31, 2013 | 1,981,820 | $ | 31.75 | ||||||||||||||
As of December 31, 2013, there was $39.7 million of total unrecognized compensation related to nonvested restricted shares expected to vest. This compensation is expected to be recognized in expense over a weighted-average period of 3.7 years. The total fair value of shares which vested during 2013 and 2012 was $3.2 million and $2.3 million, respectively. | |||||||||||||||||
In 2013, Hancock granted 67,533 performance shares with an average fair value of $32.84 per share to key members of executive and senior management. The number of 2013 performance shares that ultimately vest at the end of the three-year required service period will be based on the relative rank of Hancock’s three-year total shareholder return (TSR) among the TSRs of a peer group of fifty regional banks. The maximum number of performance shares that could vest is 200% of the target award. The fair value of the awards at the grant date was determined using a Monte Carlo simulation method. Compensation expense for these performance shares will be recognized on a straight-line basis over the service period. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||||||
Note 14. Fair Value of Financial Instruments | |||||||||||||||||||||
The Financial Accounting Standards Board (FASB) defines fair value as the exchange price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The FASB’s guidance also established a fair value hierarchy that prioritizes the inputs to these valuation techniques used to measure fair value, giving preference to quoted prices in active markets for identical assets or liabilities (level 1) and the lowest priority to unobservable inputs such as a reporting entity’s own data (level 3). Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in markets that are not active, observable inputs other than quoted prices, such as interest rates and yield curves, and inputs that are derived principally from or corroborated by observable market data by correlation or other means. | |||||||||||||||||||||
Fair Value of Assets Measured on a Recurring Basis | |||||||||||||||||||||
The following table presents for each of the fair-value hierarchy levels the Company’s financial assets and liabilities that are measured at fair value (in thousands) on a recurring basis in the consolidated balance sheets. | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Level 1 | Level 2 | Total | |||||||||||||||||||
Assets | |||||||||||||||||||||
Available for sale debt securities: | |||||||||||||||||||||
U.S. Treasury and government agency securities | $ | 505 | $ | — | $ | 505 | |||||||||||||||
Municipal obligations | — | 35,961 | 35,961 | ||||||||||||||||||
Corporate debt securities | 3,500 | — | 3,500 | ||||||||||||||||||
Mortgage-backed securities | — | 1,276,958 | 1,276,958 | ||||||||||||||||||
Collateralized mortgage obligations | — | 94,125 | 94,125 | ||||||||||||||||||
Equity securities | 10,723 | — | 10,723 | ||||||||||||||||||
Total available-for-sale securities | 14,728 | 1,407,044 | 1,421,772 | ||||||||||||||||||
Derivative assets (1) | — | 15,579 | 15,579 | ||||||||||||||||||
Total recurring fair value measurements - assets | $ | 14,728 | $ | 1,422,623 | $ | 1,437,351 | |||||||||||||||
Liabilities | |||||||||||||||||||||
Derivative liabilities (1) | $ | — | $ | 15,006 | $ | 15,006 | |||||||||||||||
Total recurring fair value measurements - liabilities | $ | — | $ | 15,006 | $ | 15,006 | |||||||||||||||
-1 | For further disaggregation of derivative assets and liabilities, see Note 6 - Derivatives | ||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||
Level 1 | Level 2 | Total | |||||||||||||||||||
Assets | |||||||||||||||||||||
Available for sale debt securities: | |||||||||||||||||||||
U.S. Treasury and government agency securities | $ | 18,265 | $ | — | $ | 18,265 | |||||||||||||||
Municipal obligations | — | 50,165 | 50,165 | ||||||||||||||||||
Corporate debt securities | 2,250 | — | 2,250 | ||||||||||||||||||
Mortgage-backed securities | — | 1,774,406 | 1,774,406 | ||||||||||||||||||
Collateralized mortgage obligations | — | 198,077 | 198,077 | ||||||||||||||||||
Equity securities | 5,279 | — | 5,279 | ||||||||||||||||||
Total available-for-sale securities | 25,794 | 2,022,648 | 2,048,442 | ||||||||||||||||||
Derivative assets (1) | — | 20,093 | 20,093 | ||||||||||||||||||
Total recurring fair value measurements - assets | $ | 25,794 | $ | 2,042,741 | $ | 2,068,535 | |||||||||||||||
Liabilities | |||||||||||||||||||||
Derivative liabilities (1) | $ | — | $ | 21,100 | $ | 21,100 | |||||||||||||||
Total recurring fair value measurements - liabilities | $ | — | $ | 21,100 | $ | 21,100 | |||||||||||||||
-1 | For further disaggregation of derivative assets and liabilities, see Note 6 - Derivatives | ||||||||||||||||||||
Securities classified as level 1 within the valuation hierarchy include U.S. Treasury securities, obligations of U.S. Government-sponsored agencies, and certain other debt and equity securities. Level 2 classified securities include residential mortgage-backed securities and collateralized mortgage obligations that are issued or guaranteed by U.S. government agencies, and state and municipal bonds. The level 2 fair value measurements for investment securities are obtained quarterly from a third-party pricing service that uses industry-standard pricing models. Substantially all of the model inputs were observable in the marketplace or can be supported by observable data. The Company invests only in high quality securities of investment grade quality with a targeted duration, for the overall portfolio, generally between two to five years. Company policies limit investments to securities having a rating of not less than “Baa” or its equivalent by a nationally recognized statistical rating agency. There were no transfers between valuation hierarchy levels during the periods shown. | |||||||||||||||||||||
The fair value of derivative financial instruments, which are predominantly interest rate swaps, is obtained from a third-party pricing service that uses an industry-standard discounted cash flow model that relies on inputs, LIBOR swap curves and Overnight Index swap rate curves, observable in the marketplace. To comply with the accounting guidance, credit valuation adjustments are incorporated in the fair values to appropriately reflect nonperformance risk for both the Company and the counterparties. Although the Company has determined that the majority of the inputs used to value the derivative instruments fall within level 2 of the fair value hierarchy, the credit value adjustments utilize level 3 inputs, such as estimates of current credit spreads. The Company has determined that the impact of the credit valuation adjustments is not significant to the overall valuation of these derivatives. As a result, the Company has classified its derivative valuations in their entirety in level 2 of the fair value hierarchy. The Company’s policy is to measure counterparty credit risk quarterly for all derivative instruments subject to master netting arrangements consistent with how market participants would price the net risk exposure at the measurement date. | |||||||||||||||||||||
The Company also has certain derivative instruments associated with the Banks’ mortgage-banking activities. These derivative instruments include interest rate lock commitments on prospective residential mortgage loans and forward commitments to sell these loans to investors on a best efforts delivery basis. The fair value of these derivative instruments is measured using observable market prices for similar instruments and is classified as a level 2 measurement. | |||||||||||||||||||||
Fair Value of Assets Measured on a Nonrecurring Basis | |||||||||||||||||||||
Certain assets and liabilities are measured at fair value on a nonrecurring basis. Collateral-dependent impaired loans are level 2 assets measured at the fair value of the underlying collateral based on third-party appraisals that take into consideration market-based information such as recent sales activity for similar assets in the property’s market. | |||||||||||||||||||||
Other real estate owned, including both foreclosed property and surplus banking property, are level 3 assets that are adjusted to fair value, less estimated selling costs, upon transfer to other real estate owned. Subsequently, other real estate owned is carried at the lower of carrying value or fair value less estimated selling costs. Fair values are determined by sales agreement or third-party appraisals as discounted for estimated selling costs, information from comparable sales, and marketability of the property. | |||||||||||||||||||||
The following table presents for each of the fair value hierarchy levels the Company’s financial assets that are measured at fair value (in thousands) on a nonrecurring basis. | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
Collateral dependent impaired loans | $ | — | $ | 24,392 | $ | — | $ | 24,392 | |||||||||||||
Other real estate owned | — | — | 25,525 | 25,525 | |||||||||||||||||
Total nonrecurring fair value measurements | $ | — | $ | 24,392 | $ | 25,525 | $ | 49,917 | |||||||||||||
31-Dec-12 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
Collateral dependent impaired loans | $ | — | $ | 72,694 | $ | — | $ | 72,694 | |||||||||||||
Other real estate owned | — | — | 43,803 | 43,803 | |||||||||||||||||
Total nonrecurring fair value measurements | $ | — | $ | 72,694 | $ | 43,803 | $ | 116,497 | |||||||||||||
Accounting guidance from the FASB requires the disclosure of estimated fair value information about certain on- and off-balance sheet financial instruments, including those financial instruments that are not measured and reported at fair value on a recurring basis. The significant methods and assumptions used by the Company to estimate the fair value of financial instruments are discussed below. | |||||||||||||||||||||
Cash, Short-Term Investments and Federal Funds Sold - For those short-term instruments, the carrying amount is a reasonable estimate of fair value. | |||||||||||||||||||||
Securities Available for Sale - The fair value measurement for securities available for sale was discussed earlier. The same measurement techniques were applied to the valuation of securities held to maturity. | |||||||||||||||||||||
Loans, Net - The fair value measurement for certain impaired loans was discussed earlier. For the remaining portfolio, fair values were generally estimated by discounting scheduled cash flows using discount rates determined with reference to current market rates at which loans with similar terms would be made to borrowers with similar credit quality. | |||||||||||||||||||||
Accrued Interest Receivable and Accrued Interest Payable - The carrying amounts are a reasonable estimate of fair values. | |||||||||||||||||||||
Deposits - The accounting guidance requires that the fair value of deposits with no stated maturity, such as noninterest-bearing demand deposits, interest-bearing checking and savings accounts, be assigned fair values equal to amounts payable upon demand (carrying amounts). The fair value of fixed-maturity certificates of deposit is estimated using the rates currently offered for deposits of similar remaining maturities. | |||||||||||||||||||||
Securities Sold under Agreements to Repurchase, Federal Funds Purchased, and FHLB Borrowings - For these short-term liabilities, the carrying amount is a reasonable estimate of fair value. | |||||||||||||||||||||
Long-Term Debt - The fair value is estimated by discounting the future contractual cash flows using current market rates at which debt with similar terms could be obtained. | |||||||||||||||||||||
Derivative Financial Instruments - The fair value measurement for derivative financial instruments was discussed earlier. | |||||||||||||||||||||
The estimated fair values of the Company’s financial instruments were as follows (in thousands): | |||||||||||||||||||||
December 31, 2013 | Total | Carrying | |||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | Amount | |||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash, interest-bearing bank deposits, and federal funds sold | $ | 617,280 | $ | — | $ | — | $ | 617,280 | $ | 617,280 | |||||||||||
Available for sale securities | 14,728 | 1,407,044 | — | 1,421,772 | 1,421,772 | ||||||||||||||||
Held to maturity securities | 100,316 | 2,476,268 | — | 2,576,584 | 2,611,352 | ||||||||||||||||
Loans, net | — | 24,392 | 12,023,330 | 12,047,722 | 12,191,191 | ||||||||||||||||
Loans held for sale | — | 24,515 | — | 24,515 | 24,515 | ||||||||||||||||
Accrued interest receivable | 42,977 | — | — | 42,977 | 42,977 | ||||||||||||||||
Derivative financial instruments | — | 15,579 | — | 15,579 | 15,579 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | — | $ | — | $ | 15,352,024 | $ | 15,352,024 | $ | 15,360,516 | |||||||||||
Federal funds purchased | 7,725 | — | — | 7,725 | 7,725 | ||||||||||||||||
Securities sold under agreements to repurchase | 650,235 | — | — | 650,235 | 650,235 | ||||||||||||||||
Long-term debt | — | 385,557 | — | 385,557 | 385,826 | ||||||||||||||||
Accrued interest payable | 4,353 | — | — | 4,353 | 4,353 | ||||||||||||||||
Derivative financial instruments | — | 15,006 | — | 15,006 | 15,006 | ||||||||||||||||
December 31, 2012 | Total | Carrying | |||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | Amount | |||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash, interest-bearing bank deposits, and federal funds sold | $ | 1,948,679 | $ | — | $ | — | $ | 1,948,679 | $ | 1,948,679 | |||||||||||
Available for sale securities | 25,794 | 2,022,648 | — | 2,048,442 | 2,048,442 | ||||||||||||||||
Held to maturity securities | — | 1,710,465 | — | 1,710,465 | 1,668,018 | ||||||||||||||||
Loans, net | — | 72,694 | 11,494,409 | 11,567,103 | 11,441,631 | ||||||||||||||||
Loans held for sale | — | 50,605 | — | 50,605 | 50,605 | ||||||||||||||||
Accrued interest receivable | 45,616 | — | — | 45,616 | 45,616 | ||||||||||||||||
Derivative financial instruments | — | 20,093 | — | 20,093 | 20,093 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | — | — | 15,757,044 | 15,757,044 | 15,744,188 | ||||||||||||||||
Federal funds purchased | 25,704 | — | — | 25,704 | 25,704 | ||||||||||||||||
Securities sold under agreements to repurchase | 613,429 | — | — | 613,429 | 613,429 | ||||||||||||||||
Long-term debt | — | 410,791 | — | 410,791 | 396,589 | ||||||||||||||||
Accrued interest payable | 4,814 | — | — | 4,814 | 4,814 | ||||||||||||||||
Derivative financial instruments | — | 21,100 | — | 21,100 | 21,100 |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and Contingencies | ' | ||||||||
Note 15. Commitments and Contingencies | |||||||||
Credit Related | |||||||||
In the normal course of business, the Banks enter into financial instruments, such as commitments to extend credit and letters of credit, to meet the financing needs of their customers. Such instruments are not reflected in the accompanying consolidated financial statements until they are funded, although they expose the Banks to varying degrees of credit risk and interest rate risk in much the same way as funded loans. | |||||||||
Commitments to extend credit include revolving commercial credit lines, nonrevolving loan commitments issued mainly to finance the acquisition and development or construction of real property or equipment, and credit card and personal credit lines. The availability of funds under commercial credit lines and loan commitments generally depends on whether the borrower continues to meet credit standards established in the underlying contract and has not violated other contractual conditions. Loan commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee by the borrower. Credit card and personal credit lines are generally subject to cancellation if the borrower’s credit quality deteriorates. A number of commercial and personal credit lines are used only partially or, in some cases, not at all before they expire, and the total commitment amounts do not necessarily represent future cash requirements of the Company. | |||||||||
A substantial majority of the letters of credit are standby agreements that obligate the Banks to fulfill a customer’s financial commitments to a third party if the customer is unable to perform. The Banks issue standby letters of credit primarily to provide credit enhancement to their customers’ other commercial or public financing arrangements and to help them demonstrate financial capacity to vendors of essential goods and services. | |||||||||
The contract amounts of these instruments reflect the Company’s exposure to credit risk. The Company undertakes the same credit evaluation in making loan commitments and assuming conditional obligations as it does for on-balance sheet instruments and may require collateral or other credit support. These off-balance sheet financial instruments are summarized below (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Commitments to extend credit | $ | 5,234,929 | $ | 4,373,679 | |||||
Letters of credit | 422,284 | 401,861 | |||||||
Legal Proceedings | |||||||||
The Company is party to various legal proceedings arising in the ordinary course of business. Management does not believe that loss contingencies, if any, arising from pending litigation and regulatory matters will have a material adverse effect on the consolidated financial position or liquidity of the Company. | |||||||||
Other Contingencies | |||||||||
On December 18, 2009, the Company entered into loss share agreements with the FDIC related to the covered loans it acquired in the Peoples First Community Bank transaction. The loss share agreements contain specific terms and conditions regarding the management of the covered assets that the Company must follow in order to receive reimbursement for losses from the FDIC. | |||||||||
In July 2013, the FDIC issued an assessment related to a targeted review of certain previously-paid loss claim reimbursements that requests repayment due to FDIC’s disagreement with the calculation of the losses and the manner in which certain assets were administered. The Company believes that it has complied with the terms and conditions of the loss share agreements and administered assets and calculated charge-offs in a manner that conforms to its regulatory supervisory criteria and the Company’s policy for non-covered assets. | |||||||||
During third quarter 2013, the Company reimbursed the FDIC and accrued a total of $2.1 million related to the assessment. The $2.1 million represents the Company’s best estimate of loss. | |||||||||
The FDIC has delayed processing of the Company’s claims since September 2013 and outstanding reimbursement claims due from the FDIC for the period September through December 2013 total $9.9 million. The Company believes it will ultimately recover these claims in full and is pursuing all options to resolve the assessment with the FDIC. While the Company believes it has meritorious defenses against the FDIC assessment, the ultimate resolution of these matters, which is expected to occur within one year, could result in a loss of up to $11.5 million in excess of the amount accrued. | |||||||||
Lease Commitments | |||||||||
The Company currently is obligated under a number of non-cancelable operating leases for buildings and equipment. Certain of these leases have escalation clauses and renewal options. Future minimum lease payments for non-cancelable operating leases with initial terms in excess of one year were as follows at December 31, 2013 (in thousands): | |||||||||
Operating | |||||||||
Leases | |||||||||
2014 | $ | 10,378 | |||||||
2015 | 8,926 | ||||||||
2016 | 7,950 | ||||||||
2017 | 7,129 | ||||||||
2018 | 5,417 | ||||||||
Thereafter | 18,984 | ||||||||
Total minimum lease payments | $ | 58,784 | |||||||
Rental expense approximated $12.9 million, $14.3 million and $11.9 million for the years ended December 31, 2013, 2012, and 2011, respectively. |
Other_Noninterest_Income_and_O
Other Noninterest Income and Other Noninterest Expense | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||
Other Noninterest Income and Other Noninterest Expense | ' | ||||||||||||
Note 16. Other Noninterest Income and Other Noninterest Expense | |||||||||||||
The components of other noninterest income and other noninterest expense are as follows (in thousands): | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Other noninterest income: | |||||||||||||
Income from bank-owned life insurance | $ | 11,223 | $ | 11,163 | $ | 9,311 | |||||||
Credit-related fees | 8,724 | 6,681 | 5,752 | ||||||||||
Income from derivatives | 4,675 | 3,600 | 760 | ||||||||||
Gain on sales of assets | 1,932 | 4,366 | 1,083 | ||||||||||
Safety deposit box income | 1,923 | 2,006 | 1,591 | ||||||||||
(Amortization) accretion of FDIC loss share receivable | (2,239 | ) | 5,000 | 16,689 | |||||||||
Other miscellaneous income | 8,753 | 9,072 | 7,081 | ||||||||||
Total other noninterest income | $ | 34,991 | $ | 41,888 | $ | 42,267 | |||||||
Other noninterest expense: | |||||||||||||
Advertising | $ | 10,399 | $ | 13,515 | $ | 17,687 | |||||||
Ad valorem and franchise taxes | 9,727 | 8,321 | 5,330 | ||||||||||
Printing and supplies | 5,112 | 7,491 | 5,608 | ||||||||||
Insurance expense | 4,094 | 5,494 | 7,490 | ||||||||||
Travel | 4,716 | 5,758 | 3,590 | ||||||||||
Entertainment and contributions | 5,265 | 6,049 | 3,954 | ||||||||||
Tax credit investment amortization | 10,781 | 5,974 | 3,515 | ||||||||||
Other miscellaneous expense | 45,242 | 27,669 | 31,539 | ||||||||||
Total other noninterest expense | $ | 95,336 | $ | 80,271 | $ | 78,713 | |||||||
Other miscellaneous expense includes one-time expenses related to branch closings in 2013 and merger-related expenses and costs associated with the early redemption of a portion of Whitney Bank’s subordinated debt in 2012. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Income Taxes | ' | ||||||||||||||||||||||||
Note 17. Income Taxes | |||||||||||||||||||||||||
Income tax expense included in net income consisted of the following components (in thousands): | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Included in net income | |||||||||||||||||||||||||
Current federal | $ | 14,797 | $ | 11,195 | $ | 7,400 | |||||||||||||||||||
Current state | (3,207 | ) | 1,953 | 1,961 | |||||||||||||||||||||
Total current provision | 11,590 | 13,148 | 9,361 | ||||||||||||||||||||||
Deferred federal | 37,403 | 34,219 | 9,735 | ||||||||||||||||||||||
Deferred state | 3,517 | (1,754 | ) | (1,032 | ) | ||||||||||||||||||||
Total deferred provision | 40,920 | 32,465 | 8,703 | ||||||||||||||||||||||
Total included in net income | $ | 52,510 | $ | 45,613 | $ | 18,064 | |||||||||||||||||||
Included in shareholder’s equity | |||||||||||||||||||||||||
Deferred tax related to retirement benefits | $ | 32,749 | $ | 3,788 | $ | (32,944 | ) | ||||||||||||||||||
Deferred tax related to securities | (40,876 | ) | (1,583 | ) | 19,145 | ||||||||||||||||||||
Deferred tax related to derivatives and hedging | 116 | (75 | ) | (42 | ) | ||||||||||||||||||||
Total included in shareholder’s equity | $ | (8,011 | ) | $ | 2,130 | $ | (13,841 | ) | |||||||||||||||||
Temporary differences arise between the tax bases of assets or liabilities and their carrying amounts for financial reporting purposes. The expected tax effects when these differences are resolved are recorded currently as deferred tax assets or liabilities. Significant components of the Company’s deferred tax assets and liabilities were as follows (in thousands): | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||
Allowance for loan losses | $ | 64,389 | $ | 77,957 | |||||||||||||||||||||
Employee compensation and benefits | 31,293 | 64,030 | |||||||||||||||||||||||
Loan purchase accounting adjustments | 75,595 | 185,789 | |||||||||||||||||||||||
Tax credit carryforward | 41,083 | 35,605 | |||||||||||||||||||||||
Securities | 6,432 | — | |||||||||||||||||||||||
State net operating loss | 1,535 | 1,805 | |||||||||||||||||||||||
Other | 21,611 | 18,102 | |||||||||||||||||||||||
Gross deferred tax assets | 241,938 | 383,288 | |||||||||||||||||||||||
Federal valuation allowance | — | — | |||||||||||||||||||||||
State valuation allowance | (1,531 | ) | (1,805 | ) | |||||||||||||||||||||
Subtotal valuation allowance | (1,531 | ) | (1,805 | ) | |||||||||||||||||||||
Net deferred tax assets | 240,407 | 381,483 | |||||||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||||||
Fixed assets & intangibles | (93,952 | ) | (124,402 | ) | |||||||||||||||||||||
Securities | — | (46,088 | ) | ||||||||||||||||||||||
Deferred gain on acquisition | (4,407 | ) | (8,962 | ) | |||||||||||||||||||||
FDIC indemnification asset | (37,775 | ) | (62,311 | ) | |||||||||||||||||||||
Other | (14,565 | ) | (11,335 | ) | |||||||||||||||||||||
Gross deferred tax liabilities | (150,699 | ) | (253,098 | ) | |||||||||||||||||||||
Net deferred tax asset (liability) | $ | 89,708 | $ | 128,385 | |||||||||||||||||||||
Reported income tax expense differed from amounts computed by applying the statutory income tax rate of 35% to earnings before income taxes because of the following factors (in thousands): | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Amount | % | Amount | % | Amount | % | ||||||||||||||||||||
Taxes computed at statutory rate | $ | 75,553 | 35 | % | $ | 69,074 | 35 | % | $ | 33,188 | 35 | % | |||||||||||||
Increases (decreases) in taxes resulting from: | |||||||||||||||||||||||||
State income taxes, net of federal income tax benefit | 2,352 | 1 | % | (78 | ) | 0 | % | 689 | 1 | % | |||||||||||||||
Tax-exempt interest | (6,487 | ) | -3 | % | (7,127 | ) | -4 | % | (6,892 | ) | -8 | % | |||||||||||||
Bank owned life insurance | (3,926 | ) | -2 | % | (4,005 | ) | -2 | % | (3,352 | ) | -4 | % | |||||||||||||
Tax credits | (17,454 | ) | -8 | % | (13,661 | ) | -7 | % | (8,384 | ) | -9 | % | |||||||||||||
Merger transaction costs | — | 0 | % | — | 0 | % | 2,178 | 3 | % | ||||||||||||||||
Other, net | 2,472 | 1 | % | 1,410 | 1 | % | 637 | 1 | % | ||||||||||||||||
Income tax expense | $ | 52,510 | 24 | % | $ | 45,613 | 23 | % | $ | 18,064 | 19 | % | |||||||||||||
As of December 31, 2013, the Company had approximately $41 million in federal tax credit carryforwards that originated in the tax years from 2008 through 2013 and that begin expiring in 2028. The Company had approximately $43 million in state net operating loss carryforwards that originated in the tax years 2002 through 2013 and that begin expiring in 2017. A valuation allowance has been established for the state net operating loss carryforwards. The impact of this valuation allowance is immaterial to the financial statements. | |||||||||||||||||||||||||
The tax benefit of a position taken or expected to be taken in a tax return should be recognized when it is more likely than not that the position will be sustained on its technical merits. The liability for unrecognized tax benefits was immaterial at December 31, 2013 and 2012. The Company does not expect the liability for unrecognized tax benefits to change significantly during 2014. Hancock recognizes interest and penalties, if any, related to income tax matters in income tax expense, and the amounts recognized during 2013, 2012 and 2011 were insignificant. | |||||||||||||||||||||||||
The Company and its subsidiaries file a consolidated U.S. federal income tax return, as well as filing various state returns. Generally, the returns for years prior to 2009 are no longer subject to examination by taxing authorities. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings Per Share | ' | ||||||||||||
Note 18. Earnings Per Share | |||||||||||||
Hancock calculates earnings per share using the two-class method. The two-class method allocates net income to each class of common stock and participating security according to common dividends declared and participation rights in undistributed earnings. Participating securities consist of unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents. | |||||||||||||
A summary of the information used in the computation of earnings per common share follows (in thousands, except per share data): | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator: | |||||||||||||
Net income to common shareholders | $ | 163,356 | $ | 151,742 | $ | 76,759 | |||||||
Net income allocated to participating securities - basic and diluted | 3,105 | 1,557 | 866 | ||||||||||
Net income allocated to common shareholders - basic and diluted | $ | 160,251 | $ | 150,185 | $ | 75,893 | |||||||
Denominator: | |||||||||||||
Weighted-average common shares - basic | 83,066 | 84,767 | 65,590 | ||||||||||
Dilutive potential common shares | 101 | 821 | 480 | ||||||||||
Weighted average common shares - diluted | 83,167 | 85,588 | 66,070 | ||||||||||
Earnings per common share: | |||||||||||||
Basic | $ | 1.93 | $ | 1.77 | $ | 1.16 | |||||||
Diluted | $ | 1.93 | $ | 1.75 | $ | 1.15 | |||||||
Potential common shares consist of employee and director stock options. These potential common shares do not enter into the calculation of diluted earnings per share if the impact would be anti-dilutive, i.e., increase earnings per share or reduce a loss per share. Weighted-average anti-dilutive potential common shares totalled 916,756 for the twelve months ended December 31, 2013, 1,057,925 for the twelve months ended December 31, 2012, and 1,617,779 for the twelve months ended December 31, 2011. | |||||||||||||
Segment_Reporting
Segment Reporting | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Segment Reporting | ' | ||||||||||||||||||||
Note 19. Segment Reporting | |||||||||||||||||||||
The Company’s reportable operating segments consist of the Hancock segment, which coincides generally with the Company’s Hancock Bank subsidiary, and the Whitney segment, which coincides generally with its Whitney Bank subsidiary. Each of the bank segments offer commercial, consumer and mortgage loans and deposit services as well as certain other services, such as trust and treasury management services. Although the bank segments offer the same products and services, they are managed separately due to different pricing, product demand, and consumer markets. On June 4, 2011, the Company completed its acquisition of Whitney Holding Corporation, the parent of Whitney National Bank. Whitney National Bank was merged into Hancock Bank of Louisiana and the combined entity was renamed Whitney Bank. Prior to the merger the segment now called Whitney Bank was comprised generally of Hancock Bank Louisiana. On March 15, 2012, Whitney Bank transferred the assets and liabilities of its operations in Florida, Alabama, and Mississippi to Hancock Bank and retained its operations in Louisiana and Texas. In the following tables, the “Other” column includes activities of other consolidated subsidiaries and the holding company which no not constitute reportable segments under the quantitative and aggregation accounting guidelines. These subsidiaries provide investment services, insurance agency services, insurance underwriting and various other services to third parties. | |||||||||||||||||||||
Following is selected information for the Company’s segments (in thousands): | |||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Hancock | Whitney | Other | Eliminations | Consolidated | |||||||||||||||||
Interest income | $ | 265,160 | $ | 437,298 | $ | 24,355 | $ | (4,603 | ) | $ | 722,210 | ||||||||||
Interest expense | (18,575 | ) | (17,253 | ) | (9,794 | ) | 4,143 | (41,479 | ) | ||||||||||||
Net interest income | 246,585 | 420,045 | 14,561 | (460 | ) | 680,731 | |||||||||||||||
Provision for loan losses | (23,173 | ) | (4,746 | ) | (4,815 | ) | — | (32,734 | ) | ||||||||||||
Noninterest income | 72,180 | 134,507 | 39,351 | — | 246,038 | ||||||||||||||||
Depreciation and amortization | (15,501 | ) | (15,352 | ) | (1,210 | ) | — | (32,063 | ) | ||||||||||||
Other noninterest expense | (227,574 | ) | (377,684 | ) | (40,953 | ) | — | (646,211 | ) | ||||||||||||
Securities transactions | — | — | 105 | — | 105 | ||||||||||||||||
Income before income taxes | 52,517 | 156,770 | 7,039 | (460 | ) | 215,866 | |||||||||||||||
Income tax expense | 10,490 | 41,060 | 960 | — | 52,510 | ||||||||||||||||
Net income | $ | 42,027 | $ | 115,710 | $ | 6,079 | $ | (460 | ) | $ | 163,356 | ||||||||||
Goodwill | $ | 94,130 | $ | 527,063 | $ | 4,482 | $ | — | $ | 625,675 | |||||||||||
Total assets | $ | 6,573,428 | $ | 12,908,891 | $ | 2,933,388 | $ | (3,406,456 | ) | $ | 19,009,251 | ||||||||||
Total interest income from affiliates | $ | 3,488 | $ | 1,115 | $ | — | $ | (4,603 | ) | $ | — | ||||||||||
Total interest income from external customers | $ | 261,672 | $ | 436,183 | $ | 24,355 | $ | — | $ | 722,210 | |||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||
Hancock | Whitney | Other | Eliminations | Consolidated | |||||||||||||||||
Interest income | $ | 269,915 | $ | 473,664 | $ | 23,996 | $ | (5,026 | ) | $ | 762,549 | ||||||||||
Interest expense | (22,553 | ) | (25,178 | ) | (8,516 | ) | 4,565 | (51,682 | ) | ||||||||||||
Net interest income | 247,362 | 448,486 | 15,480 | (461 | ) | 710,867 | |||||||||||||||
Provision for loan losses | (21,304 | ) | (32,834 | ) | (54 | ) | — | (54,192 | ) | ||||||||||||
Noninterest income | 78,785 | 133,228 | 40,219 | (37 | ) | 252,195 | |||||||||||||||
Depreciation and amortization | (14,309 | ) | (17,515 | ) | (1,032 | ) | — | (32,856 | ) | ||||||||||||
Other noninterest expense | (230,208 | ) | (403,935 | ) | (46,105 | ) | 37 | (680,211 | ) | ||||||||||||
Securities transactions | 579 | 966 | 7 | — | 1,552 | ||||||||||||||||
Income before income taxes | 60,905 | 128,396 | 8,515 | (461 | ) | 197,355 | |||||||||||||||
Income tax expense | 11,878 | 30,998 | 2,737 | — | 45,613 | ||||||||||||||||
Net income | $ | 49,027 | $ | 97,398 | $ | 5,778 | $ | (461 | ) | $ | 151,742 | ||||||||||
Goodwill | $ | 94,130 | $ | 530,265 | $ | 4,482 | $ | — | $ | 628,877 | |||||||||||
Total assets | $ | 6,308,690 | $ | 13,127,109 | $ | 2,865,346 | $ | (2,836,660 | ) | $ | 19,464,485 | ||||||||||
Total interest income from affiliates | $ | 4,042 | $ | 984 | $ | — | $ | (5,026 | ) | $ | — | ||||||||||
Total interest income from external customers | $ | 265,873 | $ | 472,680 | $ | 23,996 | $ | — | $ | 762,549 | |||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||
Hancock | Whitney | Other | Eliminations | Consolidated | |||||||||||||||||
Interest income | $ | 195,230 | $ | 380,072 | $ | 21,794 | $ | (4,892 | ) | $ | 592,204 | ||||||||||
Interest expense | (39,056 | ) | (29,538 | ) | (6,807 | ) | 4,430 | (70,971 | ) | ||||||||||||
Net interest income | 156,174 | 350,534 | 14,987 | (462 | ) | 521,233 | |||||||||||||||
Provision for loan losses | (17,216 | ) | (17,550 | ) | (3,966 | ) | — | (38,732 | ) | ||||||||||||
Noninterest income | 76,846 | 96,349 | 32,761 | 471 | 206,427 | ||||||||||||||||
Depreciation and amortization | (10,649 | ) | (13,123 | ) | (834 | ) | — | (24,606 | ) | ||||||||||||
Other noninterest expense | (163,088 | ) | (372,034 | ) | (34,894 | ) | 608 | (569,408 | ) | ||||||||||||
Securities Transactions | (51 | ) | — | (40 | ) | — | (91 | ) | |||||||||||||
Income before income taxes | 42,016 | 44,176 | 8,014 | 617 | 94,823 | ||||||||||||||||
Income tax expense (benefit) | 6,513 | 7,584 | 3,967 | — | 18,064 | ||||||||||||||||
Net income | $ | 35,503 | $ | 36,592 | $ | 4,047 | $ | 617 | $ | 76,759 | |||||||||||
Goodwill | $ | 23,386 | $ | 623,294 | $ | 4,482 | $ | — | $ | 651,162 | |||||||||||
Total assets | $ | 4,934,003 | $ | 14,792,788 | $ | 2,462,281 | $ | (2,414,976 | ) | $ | 19,774,096 | ||||||||||
Total interest income from affiliates | $ | 4,364 | $ | 528 | $ | — | $ | (4,892 | ) | $ | — | ||||||||||
Total interest income from external customers | $ | 190,866 | $ | 379,544 | $ | 21,794 | $ | — | $ | 592,204 | |||||||||||
Consolidated other intangible assets totaled $159.8 million and $189.4 million, respectively, at December 31, 2013 and 2012. The balance at the end of 2013 consisted of core deposit intangibles of $132.7 million and other identifiable intangible assets of $27.1 million. The total was allocated $135.3 million to the Whitney segment, $17.0 million to the Hancock segment, and $7.5 million to the Other segment. Total other intangible assets at the end of 2012 consisted of core deposit intangibles of $154.7 million and other identifiable intangibles assets of $34.7 million. The 2012 total was allocated $168.9 million to Whitney, $20.3 million to Hancock, and $0.2 million to the Other segment. |
Condensed_Parent_Company_Infor
Condensed Parent Company Information | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Condensed Parent Company Information | ' | ||||||||||||
Note 20. Condensed Parent Company Information | |||||||||||||
The following condensed financial statements reflect the accounts and transactions of Hancock Holding Company only (in thousands): | |||||||||||||
Condensed Balance Sheets | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Assets: | |||||||||||||
Cash | $ | 66,338 | $ | 26,041 | |||||||||
Securities available for sale | 107,017 | 132,551 | |||||||||||
Investment in bank subsidiaries | 2,409,319 | 2,495,412 | |||||||||||
Investment in non-bank subsidiaries | 5,319 | 8,071 | |||||||||||
Due from subsidiaries and other assets | 23,161 | 13,447 | |||||||||||
$ | 2,611,154 | $ | 2,675,522 | ||||||||||
Liabilities and Stockholders’ Equity: | |||||||||||||
Long term debt | $ | 184,800 | $ | 220,000 | |||||||||
Due to subsidiaries and other liabilities | 1,285 | 2,244 | |||||||||||
Stockholders’ equity | 2,425,069 | 2,453,278 | |||||||||||
$ | 2,611,154 | $ | 2,675,522 | ||||||||||
Condensed Statements of Income | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Operating Income | |||||||||||||
From subsidiaries | |||||||||||||
Cash dividends received from bank subsidiaries | $ | 249,000 | $ | 25,000 | $ | 123,100 | |||||||
Non-cash dividend from bank subsidiary in restructuring | — | 225,000 | 13,451 | ||||||||||
Dividends received from non-bank subsidiaries | 2,990 | 150 | — | ||||||||||
Equity in earnings of subsidiaries greater than (less than) dividends received | (82,203 | ) | (94,486 | ) | (57,172 | ) | |||||||
Total operating income | 169,787 | 155,664 | 79,379 | ||||||||||
Other (expense) income | (10,335 | ) | (6,673 | ) | (2,592 | ) | |||||||
Income tax expense (benefit) | (3,904 | ) | (2,751 | ) | 28 | ||||||||
Net income | $ | 163,356 | $ | 151,742 | $ | 76,759 | |||||||
Condensed Statements of Cash Flows | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cash flows from operating activities - principally dividends received from subsidiaries | $ | 257,251 | $ | 18,789 | $ | 113,355 | |||||||
Net cash provided by operating activities | 257,251 | 18,789 | 113,355 | ||||||||||
Cash flows from investing activities | |||||||||||||
Contribution of capital to subsidiary | (870 | ) | (955 | ) | (233 | ) | |||||||
Loans to nonbank subsidiaries, net of repayments | — | 1,684 | — | ||||||||||
Purchase of available for sale securities | — | (77,058 | ) | (103,432 | ) | ||||||||
Proceeds of securities available for sale | 18,685 | 47,305 | 1,396 | ||||||||||
Cash paid in connection with business combination | — | — | (275,563 | ) | |||||||||
Other, net | (5,630 | ) | — | — | |||||||||
Net cash used by investing activities | 12,185 | (29,024 | ) | (377,832 | ) | ||||||||
Cash flows from financing activities: | |||||||||||||
Proceeds from issuance of long term debt | — | 217,933 | 140,000 | ||||||||||
Repayment of long term debt | (35,200 | ) | (140,000 | ) | — | ||||||||
Dividends paid to stockholders | (81,673 | ) | (83,151 | ) | (70,617 | ) | |||||||
Stock transactions, net | (112,266 | ) | 13,479 | 222,322 | |||||||||
Net cash provided by (used by) financing activities | (229,139 | ) | 8,261 | 291,705 | |||||||||
Net increase (decrease) in cash | 40,297 | (1,974 | ) | 27,228 | |||||||||
Cash, beginning of year | 26,041 | 28,015 | 787 | ||||||||||
Cash, end of year | $ | 66,338 | $ | 26,041 | $ | 28,015 |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Policies) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Basis of Presentation | ' | |||
Basis of Presentation | ||||
The consolidated financial statements include the accounts of the Company and all other entities in which the Company has a controlling interest. Significant inter-company transactions and balances have been eliminated in consolidation. | ||||
Use of Estimates | ' | |||
Use of Estimates | ||||
The accounting principles the Company follows and the methods for applying these principles conform with U.S. GAAP and with general practices followed by the banking industry. These accounting principles and practices require management to make estimates and assumptions about future events that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from those estimates. | ||||
Fair Value Accounting | ' | |||
Fair Value Accounting | ||||
U.S. GAAP requires the use of fair values in determining the carrying values of certain assets and liabilities in the financial statements, as well as for specific disclosures about certain assets and liabilities. | ||||
Accounting guidance established a fair value hierarchy that prioritizes the inputs to these valuation techniques used to measure fair value giving preference to quoted prices in active markets (level 1) and the lowest priority to unobservable inputs such as a reporting entity’s own data or information or assumptions developed from this data (level 3). Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in markets that are not active, observable inputs other than quoted prices, such as interest rates and yield curves, and inputs that are derived principally from or corroborated by observable market data by correlation or other means. | ||||
Acquisition Accounting | ' | |||
Acquisition Accounting | ||||
Acquisitions are accounted for under the purchase method of accounting. Purchased assets, including identifiable intangibles, and assumed liabilities are recorded at their respective acquisition date fair values. If the fair value of net assets purchased exceeds the consideration given, a bargain purchase gain is recognized. If the consideration given exceeds the fair value of the net assets received, goodwill is recognized. Fair values are subject to refinement for up to one year after the closing date of an acquisition as information relative to closing date fair values becomes available. Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan losses. See the Acquired Loans section below for accounting policy regarding loans acquired in a business combination. | ||||
All identifiable intangible assets that are acquired in a business combination are recognized at fair value on the acquisition date. Identifiable intangible assets are recognized separately if they arise from contractual or other legal rights or if they are separable (i.e., capable of being sold, transferred, licensed, rented, or exchanged separately from the entity). | ||||
Securities | ' | |||
Securities | ||||
Securities are classified as trading, held to maturity or available for sale. Management determines the appropriate classification of debt and equity securities at the time of purchase and re-evaluates this classification periodically as conditions change that could require reclassification. | ||||
Available for sale securities are stated at fair value. Unrealized holding gains and unrealized holding losses, other than those determined to be other than temporary, are reported net of tax in other comprehensive income and in accumulated other comprehensive income until realized. | ||||
Securities that the Company both positively intends and has the ability to hold to maturity are classified as securities held to maturity and are carried at amortized cost. The intent and ability to hold are not considered satisfied when a security is available to be sold in response to changes in interest rates, prepayment rates, liquidity needs or other reasons as part of an overall asset/liability management strategy. | ||||
Premiums and discounts on securities, both those held to maturity and those available for sale, are amortized and accreted to income as an adjustment to the securities’ yields using the effective interest method. Realized gains and losses on securities, including declines in value judged to be other than temporary, are reported net as a component of noninterest income. The cost of securities sold is specifically identified for use in calculating realized gains and losses. | ||||
Loans | ' | |||
Loans | ||||
Originated loans | ||||
Loans originated for investment are reported at the principal balance outstanding net of unearned income. Interest on loans and accretion of unearned income, including deferred loan fees, are computed in a manner that approximates a level yield on recorded principal. Interest on loans is recognized in income as earned. | ||||
The accrual of interest on an originated loan is discontinued when, in management’s opinion, it is probable that the borrower will be unable to meet payment obligations as they become due, as well as when required by regulatory provisions. When accrual of interest is discontinued on a loan, all unpaid accrued interest is reversed and payments subsequently received are applied first to recover principal. Interest income is recognized for payments received after contractual principal has been satisfied. Loans are returned to accrual status when all the principal and interest contractually due are brought current and future payment performance is reasonably assured. | ||||
Acquired loans | ||||
Acquired loans are those loans that were purchased in the Whitney Holding Corporation acquisition on June 4, 2011. These loans were recorded at estimated fair value at the acquisition date with no carryover of the related allowance for loan losses. The acquired loans were segregated between those considered to be performing (“acquired-performing”) and those with evidence of credit deterioration (“acquired-impaired”) based on such factors as past due status, nonaccrual status and credit risk ratings (rated substandard or worse). The acquired loans were further segregated into loan pools designed to facilitate the development of expected cash flows to be used in estimating fair value. | ||||
Acquired-performing loans were segregated into pools based on characteristics such as loan type, credit risk ratings, and contractual interest rate and repayment terms. The major loan types included commercial and industrial loans not secured by real estate, real estate construction and land development loans, commercial real estate mortgages, residential mortgage loans, and consumer loans, with further segregation within certain loan types as needed. Expected cash flows, both principal and interest, from each pool were estimated based on key assumptions covering such factors as prepayments, default rates, and severity of loss given a default. These assumptions were developed using both Whitney Holding Corporation’s historical experience and the portfolio characteristics at acquisition as well as available market research. | ||||
The difference at the acquisition date between the fair value and the contractual amounts due of an acquired-performing loan pool (the “fair value discount”) is accreted into income over the estimated life of the pool. Acquired-performing loans are placed on nonaccrual status and considered and reported as nonperforming or past due using the same criteria applied to the originated portfolio. | ||||
In addition to those factors considered for acquired-performing loans, the acquired-impaired loans were segregated into pools by identifying loans with similar credit risk profiles and were based primarily on characteristics such as loan type and market area in which originated. Loan types included most of the major types used for the acquired-performing portfolio. The acquired-impaired loans that had been originated in Louisiana and Texas were further disaggregated from loans originated in Mississippi, Alabama and Florida, in recognition of the differences in general economic conditions affecting borrowers in these market areas. The fair value estimate for each pool of acquired performing and acquired-impaired loans was based on the estimate of expected cash flows from the pool discounted at prevailing market rates. | ||||
The excess of cash flows estimated to be collected from an acquired-impaired loan pool over the pool’s carrying value is referred to as the accretable yield and is recognized in interest income using an effective yield method over the remaining life of the loan pool. Each pool of acquired-impaired loans is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. Acquired-impaired loans in pools with an accretable yield and expected cash flows that are reasonably estimable are considered to be accruing and performing even though collection of contractual payments on loans within the pool may be in doubt, because the pool is the unit of accounting. Management recasts the estimate of cash flows expected to be collected on each acquired-impaired loan pool at each reporting date. If the present value of expected cash flows for a pool is less than its carrying value, impairment is recognized by an increase in the allowance for loan losses and a charge to the provision for loan losses. If the present value of expected cash flows for a pool is greater than its carrying value, any previously established allowance for loan losses is reversed and any remaining difference increases the accretable yield which will be taken into interest income over the remaining life of the loan pool. Acquired-impaired loans are generally not subject to individual evaluation for impairment and are not reported with impaired loans or troubled debt restructurings even if they would otherwise qualify for such treatment. | ||||
Covered loans and the related loss share receivable | ||||
The loans purchased in the 2009 acquisition of Peoples First Community Bank (Peoples First) are covered by two loss share agreements between the FDIC and the Company which afford the Company significant loss protection. These covered loans are accounted for as acquired-impaired loans as described above in the section on acquired loans. The Company treated all loans for the Peoples First acquisition under ASC 310-30 based on the significant amount of deteriorating and nonperforming loans comprised mainly of adjustable rate mortgages and home equity loans located in Florida. The loss share receivable is measured separately from the related covered loans as it is not contractually embedded in the loans and is not transferrable should the loans be sold. The fair value of the loss share receivable at acquisition was estimated by discounting expected reimbursements for losses from the loans covered by the loss share agreements, including appropriate consideration of possible true-up payments to the FDIC at the expiration of the agreements. | ||||
The loss share receivable is reviewed and updated prospectively as loss estimates related to the covered loan pools change. Increases in expected reimbursements under the loss sharing agreements will lead to an increase in the loss share receivable. A decrease in expected reimbursements is reflected first as a reversal of any previously recorded increase in the loss share receivable on the covered loan pool with the remainder reflected as a reduction in the loss share receivable’s accretion rate. Increases and decreases in the loss share receivable related to changes in loss estimates result in reductions in or additions to the provision for loan losses, which serves to offset the impact on the provision from impairments or impairment reversals recognized on the underlying covered loan pool. The excess (or shortfall) of expected claims as compared to the carrying value of the loss share receivable is accreted (amortized) into noninterest income over the shorter of the remaining life of the covered loan pool or the life of the loss share agreement. The impact on operations of a reduction in the loss share receivable’s accretion rate is associated with an increase in the accretable yield on the underlying loan pool. The indemnification asset is reduced as cash is received from the FDIC related to losses incurred on covered assets. | ||||
Loans Held for Sale | ||||
Residential mortgage loans originated for sale are classified as loans held for sale and carried at the lower of cost or market. Forward sales commitments on a best-efforts basis are entered into with third parties concurrent with rate lock commitments made to prospective borrowers. At times, management may decide to sell loans that were not originated for that purpose. Those loans would be reclassified as held for sale when that decision is made and also carried at the lower of cost or market. | ||||
Troubled Debt Restructurings | ||||
Troubled debt restructurings (TDRs) occur when a borrower is experiencing, or is expected to experience, financial difficulties in the near-term and a modification in loan terms is granted that would otherwise not have been considered. | ||||
Troubled debt restructurings can result in loans remaining on nonaccrual, moving to nonaccrual, or continuing to accrue, depending on the individual facts and circumstances of the borrower. All loans whose terms have been modified in a TDR, including both commercial and retail loans, are considered “impaired.” When measuring impairment on a TDR, the loan’s value is determined by either the present value of expected cash flows calculated using the loan’s effective interest rate before the restructuring or the fair value of the collateral if the loan is collateral dependent. If the value as determined is less than the recorded investment in the loan, the difference is charged-off through the allowance for loan and lease losses. Modified acquired-impaired loans are not removed from their accounting pool and accounted for as a TDR even if those loans would otherwise be deemed TDRs. | ||||
Allowance for Loan Losses | ' | |||
Allowance for Loan Losses | ||||
Originated loans | ||||
The ALLL is a valuation account available to absorb losses on loans. The ALLL is established and maintained at an amount sufficient to cover the estimated credit losses inherent in the loan and lease portfolios of the Company as of the date of the determination. Credit losses arise not only from credit risk, but also from other risks inherent in the lending process including, but not limited to, collateral risk, operational risk, concentration risk, and economic risk. As such, all related risks of lending are considered when assessing the adequacy of the allowance for loan and lease losses. Quarterly, management estimates the inherent losses in the portfolio based on a number of factors, including the Company’s past loan loss and delinquency experience, known and inherent risks in the portfolio, adverse situations that may affect the borrowers’ ability to repay, the estimated value of any underlying collateral and current economic conditions. | ||||
The analysis and methodology for estimating the ALLL include two primary elements. A loss rate analysis which incorporates a historical loss rate as updated for current conditions is used for loans collectively evaluated for impairment, and a specific reserve analysis is used for loans individually evaluated for impairment. | ||||
During the second quarter of 2013, management revised the methodology for the loss-rate analysis for the originated and acquired-performing loan portfolios due to the increased size and complexity of the Company’s commercial loan portfolio. The primary changes in the methodology were to segment loans with similar risk characteristics at a more granular level and to lengthen the period used for analyzing loss emergence and estimating loss factors. The changes were implemented as of April 1, 2013 and resulted in no material change in the total amount of the ALLL. Management made the following principal changes to the methodology during 2013: | ||||
• | Established a more granular stratification of the major loan segments to enhance the homogeneity of the loan classes. For the loss-rate analysis, the Company previously segmented loans into three primary groups—commercial, residential mortgage and consumer. The revised loan segments are commercial non-real estate, construction and land development, commercial real estate, residential mortgage and consumer. Both quantitative and qualitative factors are applied at the more detailed portfolio segments. | |||
• | Included portfolio risk ratings in loss-rate analysis. Commercial loans, commercial non-real estate, construction and land development, and commercial real estate are further subdivided by risk rating, while retail loans, residential mortgage and consumer are further subdivided by delinquency. Previously, the qualitative methodology incorporated risk ratings and delinquencies. | |||
• | Lengthened the loss emergence period. The Company uses an eighteen-month loss emergence period for commercial loans and a twelve-month loss emergence period for retail loans. The previous methodology also used a twelve-month loss emergence period for retail loans. Historical loss rates are calculated for each commercial segment using a weighted average of three eighteen-month periods over a fourteen quarter look-back period, and for each retail segment using a weighted average of three twelve-month periods over a twelve quarter look-back period. Previously, historical loss rates for all loan segments were calculated using an average of three twelve month loss emergence periods over a three year look back period. As circumstances dictate, management will make adjustments to the loss history to reflect differences in current conditions as compared to those during the historical loss period. Conditions to be considered include problem loan trends, current business and economic conditions, credit concentrations, lending policies and procedures, lending staff, collateral values, loan profiles and volumes, loan review quality, and changes in competition and regulations. | |||
The Company considers a loan to be impaired when, based upon current information and events, it believes it is probable all amounts due according to the contractual terms of the loan agreement will not be collected. A loan is not considered impaired due to a delay in payment if all amounts due, including interest accrued at the contractual interest rate for the period of delay, is expected to be collected. Impaired loans include troubled debt restructurings, and performing and non-performing loans. When a loan is determined to be impaired, the amount of impairment is recognized by creating a specific allowance for any shortfall between the loans value and its recorded investment. The loan’s value is measured by either the loan’s observable market price, the fair value of the collateral of the loan (less liquidation costs) if it is collateral dependent, or by the present value of expected future cash flows discounted at the loan’s effective interest rate. Any loans individually analyzed for impairment are not incorporated into the pool analysis to avoid double counting. The Company limits the specific reserve analysis to include all impaired commercial, commercial real estate and mortgage loans with balances of $1 million or greater. | ||||
It is the policy of the Company to promptly charge off all commercial and residential mortgage loans, or portions of loans, when available information reasonably confirms that they are wholly or partially uncollectible. Prior to recognizing a loss, asset value is established based on an assessment of the value of the collateral securing the loan, the borrower’s and the guarantor’s ability and willingness to pay and the status of the account in bankruptcy court, if applicable. Consumer loans are generally charged down to the fair value of the collateral, if any, less estimated selling costs when the loan is 90 days past due, unless the loan is clearly both well secured and in the process of collection. Loans are charged off against the allowance for loan losses with subsequent recoveries added back to the allowance. | ||||
Acquired loans | ||||
Acquired-performing loans are evaluated for any required allowance at each reporting date subsequent to acquisition. An allowance is determined for each loan pool using a methodology similar to that described above for originated loans and then compared to the remaining fair value discount for that pool. If the allowance is greater than the discount, the excess is recognized as an addition to the allowance through a provision for loan losses. If the allowance is less than the discount, no additional allowance is recognized. | ||||
For acquired-impaired loans and covered loans, estimated cash flows expected to be collected are recast at each reporting date for each loan pool. These evaluations require the continued use and updating of key assumptions and estimates such as default rates, loss severity given default and prepayment speed assumptions, similar to those used for the initial fair value estimate. Management judgment must be applied in developing these assumptions. If the present value of expected cash flows for a pool is less than its carrying value, impairment is recognized by an increase in the allowance for loan losses and a charge to the provision for loan losses. If the present value of expected cash flows for a pool is greater than its carrying value, any previously established allowance for loan losses is reversed and any remaining difference increases the accretable yield which will be taken into interest income over the remaining life of the loan pool. Acquired-impaired loans are generally not subject to individual evaluation for impairment and are not reported with impaired loans or troubled debt restructurings, even if they would otherwise qualify for such treatment. | ||||
Property and Equipment | ' | |||
Property and Equipment | ||||
Property and equipment are recorded at cost, less accumulated depreciation and amortization. Depreciation is charged to expense over the estimated useful lives of the assets, which are up to 39 years for buildings and three to seven years for furniture and equipment. Amortization expense for software is charged over three years. Leasehold improvements are amortized over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. In cases where the Company has the right to renew the lease for additional periods, the lease term for the purpose of calculating amortization of the capitalized cost of the leasehold improvements is extended when the Company is “reasonably assured” that it will renew the lease. | ||||
Gains and losses related to retirement or disposition of property and equipment are recorded in other income under noninterest income on the consolidated statements of income. The Company continually evaluates whether events and circumstances have occurred that indicate that such long-lived assets have been impaired. Measurement of any impairment of such long-lived assets is based on those assets’ fair values. | ||||
Other Real Estate | ' | |||
Other Real Estate | ||||
Other real estate owned includes real property that has been acquired in satisfaction of loans and property no longer used in the Banks’ business. These assets are recorded at the lower of either cost or estimated fair value less the estimated cost of disposition. Any initial reduction in the carrying amount of a loan to the fair value of the collateral received less selling costs is charged to the allowance for loan losses. Subsequent losses on the periodic revaluation of the property are charged to current earnings, as are revenues from and costs of operating and maintaining the properties and gains or losses recognized on their disposition. Improvements made to properties are capitalized if the expenditures are expected to be recovered upon the sale of the properties. | ||||
Goodwill and Other Intangible Assets | ' | |||
Goodwill and Other Intangible Assets | ||||
Goodwill, which represents the excess of cost over the fair value of the net assets of an acquired business, is not amortized but tested for impairment on an annual basis, or more often if events or circumstances indicate there may be impairment. Impairment is defined as the amount by which the implied fair value of the goodwill contained in any reporting unit is less than the goodwill’s carrying value. Impairment losses would be charged to operating expense. Management reviews goodwill for impairment by first comparing the estimated fair value of the reporting unit to its carrying value. If the reporting unit’s fair value is less than its carrying value, an estimate of the implied fair value of the goodwill is compared to the unit’s carrying value. The Company uses a present value technique to estimate fair value which incorporates assumptions that market participants would use in their estimates of fair value, such as assumptions about the economic environment, expected net interest margins, growth rates, and the rate at which cash flows are discounted. | ||||
Other identifiable intangible assets with finite lives, such as core deposit intangibles and trade name, are initially recorded at fair value and are generally amortized over the periods benefited and are evaluated for impairment similar to long-lived assets. | ||||
Bank-Owned Life Insurance | ' | |||
Bank-Owned Life Insurance | ||||
Bank-owned life insurance (BOLI) is long-term life insurance on the lives of certain current and past employees where the insurance policy benefits and ownership are retained by the employer. Its cash surrender value is an asset that the Company uses to partially offset the future cost of employee benefits. The cash value accumulation on BOLI is permanently tax deferred if the policy is held to the insured person’s death and certain other conditions are met. | ||||
Derivative Instruments and Hedging Activities | ' | |||
Derivative Instruments and Hedging Activities | ||||
The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. Changes in the fair value of derivatives to which hedge accounting does not apply are recognized immediately in earnings. Note 6 describes the derivative instruments currently used by the Company and discloses how these derivatives impact Hancock’s financial position and results of operations. | ||||
Income Taxes | ' | |||
Income Taxes | ||||
Income taxes are accounted for using the asset and liability method. Current tax liabilities or assets are recognized for the estimated income taxes payable or refundable on tax returns to be filed with respect to the current year. Deferred tax assets and liabilities are based on temporary differences between the financial statement carrying amounts and the tax bases of the Company’s assets and liabilities. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be realized or settled. Valuation allowances are established against deferred tax assets if, based on all available evidence, it is more likely than not that some or all of the assets will not be realized. The benefit of a position taken or expected to be taken in a tax return is recognized when it is more likely than not that the position will be sustained on its technical merits. | ||||
Retirement Benefits | ' | |||
Retirement Benefits | ||||
The Company sponsors defined benefit pension plans and certain other defined benefit postretirement plans for eligible employees. The amounts reported in the consolidated financial statements with respect to these plans are based on actuarial valuations that incorporate various assumptions regarding future experience under the plans. Note 12 discusses the actuarial assumptions and provides information about the liabilities or assets recognized for the funded status of the Company’s obligations under these plans, the net benefit expense charged to current operations, and the amounts recognized as a component of other comprehensive income and accumulated other comprehensive income. | ||||
Share-Based Payment Arrangements | ' | |||
Share-Based Payment Arrangements | ||||
The grant date fair value of equity instruments awarded to employees and directors establishes the cost of the services received in exchange, and the cost associated with awards that are expected to vest is recognized over the requisite service period. | ||||
Revenue Recognition | ' | |||
Revenue Recognition | ||||
The largest source of revenue for the Company is interest revenue. Interest revenue is recognized on an accrual basis driven by written contracts, such as loan agreements or securities contracts. Loan fees are amortized over the life of the loan. Credit-related fees, including letter of credit fees, are recognized in non-interest income when earned. The Company recognizes commission revenue and brokerage, exchange and clearance fees on a trade-date basis. Other types of non-interest revenue such as service charges on deposits and trust revenues, are accrued and recognized into income as services are provided and the amount of fees earned are reasonably determinable. | ||||
Earnings Per Share | ' | |||
Earnings Per Share | ||||
Hancock calculates earnings per share using the two-class method. The two-class method allocates net income to each class of common stock and participating security according to the common dividends declared and participation rights in undistributed earnings. Participating securities currently consist of unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents. | ||||
Basic earnings per common share is computed by dividing income applicable to common shareholders by the weighted-average number of common shares outstanding for the applicable period. Shares outstanding are adjusted for restricted shares issued to employees under the long-term incentive compensation plan and for certain shares that will be issued under the directors’ compensation plan. Diluted earnings per common share is computed using the weighted-average number of common shares outstanding increased by the number of shares in which employees would vest under performance-based restricted stock and stock unit awards based on expected performance factors and by the number of additional shares that would have been issued if potentially dilutive stock options were exercised, each as determined using the treasury stock method. | ||||
Statements of Cash Flows | ' | |||
Statements of Cash Flows | ||||
The Company considers only cash on hand, cash items in process of collection and balances due from financial institutions as cash and cash equivalents for purposes of the consolidated statements of cash flows. | ||||
Reportable Segment Disclosures | ' | |||
Reportable Segment Disclosures | ||||
Accounting standards require that information be reported about a company’s operating segments using a “management approach.” Reportable segments are identified in these standards as those revenue-producing components for which separate financial information is produced internally and which are subject to evaluation by the chief operating decision maker in deciding how to allocate resources to segments. The Company defines reportable segments as the Banks. | ||||
Other | ' | |||
Other | ||||
Assets held by the Banks in a fiduciary capacity are not assets of the Banks and are not included in the consolidated balance sheets. | ||||
Recent Accounting Pronouncements | ' | |||
RECENT ACCOUNTING PRONOUNCEMENTS | ||||
In January 2014, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) on reclassification of residential real estate collateralized consumer mortgage loans upon foreclosure. The new ASU clarifies when an in substance repossession or foreclosure occurs – that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The new ASU requires a creditor to reclassify a collateralized consumer mortgage loan to real estate property upon obtaining legal title to the real estate collateral, or the borrower voluntarily conveying all interest in the real estate property to the lender to satisfy the loan through a deed in lieu of foreclosure or similar legal agreement. The ASU is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of this guidance is not expected to have a material impact on the Company’s financial condition or results of operations. | ||||
In July 2013, the FASB issued an ASU that applies to companies that have unrecognized tax benefits when net operating loss (NOL) or similar tax loss carryforwards or tax credit carryforwards exist at the reporting date. Under the updated guidance, an entity should present its unrecognized tax benefits net against the deferred tax assets for all same jurisdiction NOL or similar tax loss carryforwards, or tax credit carryforwards that are available to and would be used by the entity to settle additional income taxes resulting from disallowance of the uncertain tax position. The ASU is effective for interim and annual reporting periods beginning after December 15, 2013. The adoption of this guidance is not expected to have a material impact on the Company’s financial condition or results of operations. | ||||
In July 2013, the FASB issued an ASU to allow entities to use the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a U.S. benchmark interest rate for hedge accounting purposes. Previously, only the interest rates on direct Treasury obligations of the United States and the London Interbank Offered Rate swap rate were considered benchmark rates. The amendment also removed the restriction requiring entities to use the same benchmark rate for similar hedges. This ASU is effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of this guidance did not have a material impact on the Company’s financial condition or results of operations. | ||||
In February 2013, the FASB issued an ASU to improve the reporting of amounts reclassified out of accumulated other comprehensive income. The updated guidance requires an entity to present, either on the face of the statement where net income is presented or in the notes, the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income, but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity must cross-reference to other required disclosures that provide additional details about those amounts. This ASU is effective for interim and annual reporting periods beginning after December 15, 2012. Because this updated guidance impacts only disclosures in financial statements and does not change the current requirements for reporting net income or other comprehensive income in financial statements, its implementation did not impact the Company’s financial condition or results of operations. | ||||
In October 2012, the FASB issued an ASU for entities that recognize an indemnification asset as a result of a government-assisted acquisition of a financial institution. When there is a change in the cash flows expected to be collected on the indemnification asset as a result of a change in cash flows expected to be collected on the assets subject to indemnification, the reporting entity should subsequently account for the change in the measurement of the indemnification asset on the same basis as the change in the assets subject to indemnification. Any amortization of changes in value should be limited to the contractual term of the indemnification agreement (that is, the lesser of the term of the indemnification agreement and the remaining life of the indemnified assets). The amendments in this update are effective for fiscal years, and interim periods within those years, beginning on or after December 15, 2012. The updated guidance is applied prospectively to any new indemnification assets acquired after the date of adoption and to indemnification assets existing as of the date of adoption arising from a government-assisted acquisition of a financial institution. The adoption of this guidance did not have a material impact on the Company’s financial condition or results of operations. | ||||
In July 2012, FASB issued an ASU that specifies that an entity has the option first to assess qualitative factors to determine whether the existence of events and circumstances indicates that it is more likely than not that the indefinite-lived intangible asset is impaired. If, after assessing the totality of events and circumstances, an entity concludes that it is not more likely than not that the indefinite-lived intangible asset is impaired, then the entity is not required to take further action. However, if an entity concludes otherwise, then it is required to determine the fair value of the indefinite-lived intangible asset and perform the quantitative impairment test by comparing the fair value with the carrying amount. Under the guidance in this ASU, an entity also has the option to bypass the qualitative assessment for any indefinite-lived intangible asset in any period and proceed directly to performing the quantitative impairment test. An entity will be able to resume performing the qualitative assessment in any subsequent period. The guidance in this ASU was effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, with early adoption permitted. The adoption of this guidance did not have a material impact on the Company’s financial condition or results of operations. | ||||
In December 2011, the FASB issued an ASU to address the differences between international financial reporting standards (IFRS) and U.S. GAAP regarding the offsetting of assets and liabilities. Instead of proposing new criteria for netting assets and liabilities the FASB and International Accounting Standards Board (IASB) jointly issued common disclosure requirements related to offsetting arrangements that call for the disclosure of both net and gross information for these assets and liabilities, irrespective of whether they are offset on the statement of financial position. In January 2013, the FASB clarified that these disclosure requirements apply only to derivatives, repurchase and reverse repurchase agreements, and securities borrowing and lending transactions that are either offset in accordance with existing accounting guidance or subject to a master netting arrangement or similar agreement. An entity is required to provide the new disclosures for annual and interim reporting periods beginning on or after January 1, 2013. This guidance impacts only the disclosures in financial statements and did not impact the Company’s financial condition or results of operations. |
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||
Reconciliation of Goodwill and Other Indefinite Lived Intangibles | ' | ||||||||||||
The following table (in thousands) provides a reconciliation of goodwill: | |||||||||||||
Goodwill balance at December 31, 2010 | $ | 61,631 | |||||||||||
Additions: | |||||||||||||
Goodwill from Whitney acquisition at acquisition date | 513,917 | ||||||||||||
Purchase accounting fair value adjustments subsequent to acquisition date made during the fourth quarter of 2011 | 75,614 | ||||||||||||
Goodwill balance at December 31, 2011 | $ | 651,162 | |||||||||||
Reductions: | |||||||||||||
Deferred tax purchase accounting adjustment made during 2012 | (22,285 | ) | |||||||||||
Deferred tax purchase accounting adjustment made during 2013 | (3,202 | ) | |||||||||||
Goodwill balance at December 31, 2013 | $ | 625,675 | |||||||||||
Change in Liability | ' | ||||||||||||
The following table presents the changes in the liability for 2013, 2012, and 2011. Payments are expected to continue into 2014. | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance, January 1 | $ | 8,165 | $ | 23,183 | $ | — | |||||||
Adjustments | 2,765 | 1,127 | 57,964 | ||||||||||
Cash Payments | (2,269 | ) | (16,145 | ) | (34,781 | ) | |||||||
Balance, December 31 | $ | 8,661 | $ | 8,165 | $ | 23,183 | |||||||
Securities_Tables
Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Amortized Cost and Fair Value of Available for Sale Securities | ' | ||||||||||||||||||||||||||||||||
The amortized cost and fair value of securities classified as available for sale and held to maturity follow (in thousands): | |||||||||||||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Cost | Unrealized | Unrealized | ||||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | ||||||||||||||||||||||||||||||
U.S. Treasury and government agency securities | $ | 504 | $ | 2 | $ | 1 | $ | 505 | $ | 18,246 | $ | 19 | $ | — | $ | 18,265 | |||||||||||||||||
Municipal obligations | 35,809 | 177 | 25 | 35,961 | 49,608 | 571 | 14 | 50,165 | |||||||||||||||||||||||||
Mortgage-backed securities | 1,262,633 | 24,402 | 10,077 | 1,276,958 | 1,715,524 | 58,903 | 21 | 1,774,406 | |||||||||||||||||||||||||
CMOs | 96,369 | — | 2,244 | 94,125 | 196,723 | 1,354 | — | 198,077 | |||||||||||||||||||||||||
Corporate debt securities | 3,500 | — | — | 3,500 | 2,250 | — | — | 2,250 | |||||||||||||||||||||||||
Equity securities | 9,965 | 785 | 27 | 10,723 | 4,531 | 752 | 4 | 5,279 | |||||||||||||||||||||||||
$ | 1,408,780 | $ | 25,366 | $ | 12,374 | $ | 1,421,772 | $ | 1,986,882 | $ | 61,599 | $ | 39 | $ | 2,048,442 | ||||||||||||||||||
Amortized Cost and Fair Value of Held to Maturity Securities | ' | ||||||||||||||||||||||||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Cost | Unrealized | Unrealized | ||||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | ||||||||||||||||||||||||||||||
U.S. Treasury and government agency securities | $ | 100,000 | $ | 316 | $ | — | $ | 100,316 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Municipal obligations | 193,189 | 919 | 6,436 | 187,672 | 164,493 | 16,017 | — | 180,510 | |||||||||||||||||||||||||
Mortgage-backed securities | 1,003,327 | 296 | 4,671 | 998,952 | 180,397 | 3,429 | — | 183,826 | |||||||||||||||||||||||||
CMOs | 1,314,836 | 1,062 | 26,254 | 1,289,644 | 1,323,128 | 23,942 | 941 | 1,346,129 | |||||||||||||||||||||||||
$ | 2,611,352 | $ | 2,593 | $ | 37,361 | $ | 2,576,584 | $ | 1,668,018 | $ | 43,388 | $ | 941 | $ | 1,710,465 | ||||||||||||||||||
Available for Sale Securities Unrealized Losses | ' | ||||||||||||||||||||||||||||||||
The details for securities classified as available for sale with unrealized losses as of December 31, 2013 follow (in thousands): | |||||||||||||||||||||||||||||||||
Available for sale | |||||||||||||||||||||||||||||||||
Losses < 12 months | Losses 12 months or > | Total | |||||||||||||||||||||||||||||||
Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
U.S. Treasury and government agency securities | $ | 205 | $ | 1 | $ | — | $ | — | $ | 205 | $ | 1 | |||||||||||||||||||||
Municipal obligations | 7,975 | 25 | — | — | 7,975 | 25 | |||||||||||||||||||||||||||
Mortgage-backed securities | 376,350 | 7,164 | 49,061 | 2,913 | 425,411 | 10,077 | |||||||||||||||||||||||||||
CMOs | 94,125 | 2,244 | — | — | 94,125 | 2,244 | |||||||||||||||||||||||||||
Equity securities | 3,282 | 26 | 3 | 1 | 3,285 | 27 | |||||||||||||||||||||||||||
$ | 481,937 | $ | 9,460 | $ | 49,064 | $ | 2,914 | $ | 531,001 | $ | 12,374 | ||||||||||||||||||||||
The details for securities classified as available for sale with unrealized losses as of December 31, 2012 follow (in thousands): | |||||||||||||||||||||||||||||||||
Available for sale | |||||||||||||||||||||||||||||||||
Losses < 12 months | Losses 12 months or > | Total | |||||||||||||||||||||||||||||||
Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
U.S. Treasury and government agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Municipal obligations | 5,278 | 14 | — | — | 5,278 | 14 | |||||||||||||||||||||||||||
Mortgage-backed securities | 57,752 | 14 | 1,097 | 7 | 58,849 | 21 | |||||||||||||||||||||||||||
Equity securities | 268 | 2 | 2 | 2 | 270 | 4 | |||||||||||||||||||||||||||
$ | 63,298 | $ | 30 | $ | 1,099 | $ | 9 | $ | 64,397 | $ | 39 | ||||||||||||||||||||||
Held to Maturity with Unrealized Losses | ' | ||||||||||||||||||||||||||||||||
The details for securities classified as held to maturity with unrealized losses as of December 31, 2013 follow (in thousands): | |||||||||||||||||||||||||||||||||
Held to maturity | |||||||||||||||||||||||||||||||||
Losses < 12 months | Losses 12 months or > | Total | |||||||||||||||||||||||||||||||
Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
Municipal obligations | $ | 131,499 | $ | 6,311 | $ | 2,878 | $ | 125 | $ | 134,377 | $ | 6,436 | |||||||||||||||||||||
Mortgage-backed securities | 950,288 | 4,671 | — | — | 950,288 | 4,671 | |||||||||||||||||||||||||||
CMOs | 947,061 | 25,088 | 175,633 | 1,166 | 1,122,694 | 26,254 | |||||||||||||||||||||||||||
$ | 2,028,848 | $ | 36,070 | $ | 178,511 | $ | 1,291 | $ | 2,207,359 | $ | 37,361 | ||||||||||||||||||||||
The details for securities classified as held to maturity with unrealized losses as of December 31, 2012 follow (in thousands): | |||||||||||||||||||||||||||||||||
Held to maturity | |||||||||||||||||||||||||||||||||
Losses < 12 months | Losses 12 months or > | Total | |||||||||||||||||||||||||||||||
Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
CMOs | $ | 87,852 | $ | 259 | $ | 54,445 | $ | 682 | $ | 142,297 | $ | 941 | |||||||||||||||||||||
$ | 87,852 | $ | 259 | $ | 54,445 | $ | 682 | $ | 142,297 | $ | 941 | ||||||||||||||||||||||
Available for Sale Securities [Member] | ' | ||||||||||||||||||||||||||||||||
Amortized Cost and Fair Value of Securities by Contractual Maturity | ' | ||||||||||||||||||||||||||||||||
The following table presents the amortized cost and fair value of debt securities at December 31, 2013 by contractual maturity (in thousands). Actual maturities will differ from contractual maturities because of rights to call or repay obligations with or without penalties and scheduled and unscheduled principal payments on mortgage-backed securities and CMOs. | |||||||||||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||||||||||
Debt Securities Available for Sale | |||||||||||||||||||||||||||||||||
Due in one year or less | $ | 26,323 | $ | 26,421 | |||||||||||||||||||||||||||||
Due after one year through five years | 172,656 | 171,832 | |||||||||||||||||||||||||||||||
Due after five years through ten years | 141,522 | 148,160 | |||||||||||||||||||||||||||||||
Due after ten years | 1,058,314 | 1,064,636 | |||||||||||||||||||||||||||||||
Total available for sale debt securities | $ | 1,398,815 | $ | 1,411,049 | |||||||||||||||||||||||||||||
Held to Maturity Securities Transferred from AFS [Member] | ' | ||||||||||||||||||||||||||||||||
Amortized Cost and Fair Value of Securities by Contractual Maturity | ' | ||||||||||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||||||||||
Debt Securities Held to Maturity | |||||||||||||||||||||||||||||||||
Due in one year or less | $ | 108,537 | $ | 108,893 | |||||||||||||||||||||||||||||
Due after one year through five years | 657,944 | 638,035 | |||||||||||||||||||||||||||||||
Due after five years through ten years | 141,597 | 136,633 | |||||||||||||||||||||||||||||||
Due after ten years | 1,703,274 | 1,693,023 | |||||||||||||||||||||||||||||||
Total held to maturity securities | $ | 2,611,352 | $ | 2,576,584 | |||||||||||||||||||||||||||||
Loans_Tables
Loans (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Loans, Net of Unearned Income | ' | ||||||||||||||||||||||||||||||||
Loans, net of unearned income, consisted of the following: | |||||||||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 4,113,837 | $ | 2,713,385 | |||||||||||||||||||||||||||||
Construction and land development | 752,381 | 665,673 | |||||||||||||||||||||||||||||||
Commercial real estate | 2,022,528 | 1,548,402 | |||||||||||||||||||||||||||||||
Residential mortgages | 1,196,256 | 827,985 | |||||||||||||||||||||||||||||||
Consumer | 1,409,130 | 1,351,776 | |||||||||||||||||||||||||||||||
Total originated loans | $ | 9,494,132 | $ | 7,107,221 | |||||||||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 926,997 | $ | 1,690,643 | |||||||||||||||||||||||||||||
Construction and land development | 142,931 | 295,151 | |||||||||||||||||||||||||||||||
Commercial real estate | 967,148 | 1,279,546 | |||||||||||||||||||||||||||||||
Residential mortgages | 315,340 | 486,444 | |||||||||||||||||||||||||||||||
Consumer | 119,603 | 202,974 | |||||||||||||||||||||||||||||||
Total acquired loans | $ | 2,472,019 | $ | 3,954,758 | |||||||||||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 23,390 | $ | 29,260 | |||||||||||||||||||||||||||||
Construction and land development | 20,229 | 28,482 | |||||||||||||||||||||||||||||||
Commercial real estate | 53,165 | 95,146 | |||||||||||||||||||||||||||||||
Residential mortgages | 209,018 | 263,515 | |||||||||||||||||||||||||||||||
Consumer | 52,864 | 99,420 | |||||||||||||||||||||||||||||||
Total covered loans | $ | 358,666 | $ | 515,823 | |||||||||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 5,064,224 | $ | 4,433,288 | |||||||||||||||||||||||||||||
Construction and land development | 915,541 | 989,306 | |||||||||||||||||||||||||||||||
Commercial real estate | 3,042,841 | 2,923,094 | |||||||||||||||||||||||||||||||
Residential mortgages | 1,720,614 | 1,577,944 | |||||||||||||||||||||||||||||||
Consumer | 1,581,597 | 1,654,170 | |||||||||||||||||||||||||||||||
Total loans | $ | 12,324,817 | $ | 11,577,802 | |||||||||||||||||||||||||||||
Allowance for Loan Losses by Portfolio Segment and Related Recorded Investment in Loans | ' | ||||||||||||||||||||||||||||||||
The following schedules show activity in the allowance for loan losses for 2013 and 2012 by portfolio segment and the corresponding recorded investment in loans as of December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||
Commercial | Construction | Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||||||
non-real | and land | real estate | mortgages | ||||||||||||||||||||||||||||||
estate | development | ||||||||||||||||||||||||||||||||
(In thousands) | Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 20,775 | $ | 11,415 | $ | 26,959 | $ | 6,406 | $ | 13,219 | $ | 78,774 | |||||||||||||||||||||
Charge-offs | (6,671 | ) | (10,312 | ) | (5,525 | ) | (2,297 | ) | (18,094 | ) | (42,899 | ) | |||||||||||||||||||||
Recoveries | 5,790 | 1,676 | 3,359 | 1,936 | 5,829 | 18,590 | |||||||||||||||||||||||||||
Net provision for loan losses | 13,197 | 3,401 | (4,144 | ) | 847 | 11,119 | 24,420 | ||||||||||||||||||||||||||
Ending balance | $ | 33,091 | $ | 6,180 | $ | 20,649 | $ | 6,892 | $ | 12,073 | $ | 78,885 | |||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 477 | $ | 22 | $ | 268 | $ | 1 | $ | — | $ | 768 | |||||||||||||||||||||
Collectively evaluated for impairment | $ | 32,614 | $ | 6,158 | $ | 20,381 | $ | 6,891 | $ | 12,073 | $ | 78,117 | |||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 4,113,837 | $ | 752,381 | $ | 2,022,528 | $ | 1,196,256 | $ | 1,409,130 | $ | 9,494,132 | |||||||||||||||||||||
Individually evaluated for impairment | 5,294 | 10,599 | 14,029 | 605 | — | 30,527 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 4,108,543 | $ | 741,782 | $ | 2,008,499 | $ | 1,195,651 | $ | 1,409,130 | $ | 9,463,605 | |||||||||||||||||||||
Commercial | Construction | Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 788 | $ | — | $ | — | $ | — | $ | — | $ | 788 | |||||||||||||||||||||
Charge-offs | — | — | — | — | — | — | |||||||||||||||||||||||||||
Recoveries | — | — | — | — | — | — | |||||||||||||||||||||||||||
Net provision for loan losses | 815 | 10 | 34 | — | — | 859 | |||||||||||||||||||||||||||
Ending balance | $ | 1,603 | $ | 10 | $ | 34 | $ | — | $ | — | $ | 1,647 | |||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Amounts related to acquired-impaired loans | — | — | — | — | — | — | |||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 1,603 | $ | 10 | $ | 34 | $ | — | $ | — | $ | 1,647 | |||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 926,997 | $ | 142,931 | $ | 967,148 | $ | 315,340 | $ | 119,603 | $ | 2,472,019 | |||||||||||||||||||||
Individually evaluated for impairment | 2,141 | 728 | 2,338 | — | — | 5,207 | |||||||||||||||||||||||||||
Acquired-impaired loans | 19,094 | 17,335 | 26,058 | 5,494 | 94 | 68,075 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 905,762 | $ | 124,868 | $ | 938,752 | $ | 309,846 | $ | 119,509 | $ | 2,398,737 | |||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 2,162 | $ | 5,623 | $ | 9,433 | $ | 30,471 | $ | 8,920 | $ | 56,609 | |||||||||||||||||||||
Charge-offs | (1,071 | ) | (1,244 | ) | (4,414 | ) | (1,532 | ) | (1,250 | ) | (9,511 | ) | |||||||||||||||||||||
Recoveries | 90 | 735 | 6,158 | 13 | 160 | 7,156 | |||||||||||||||||||||||||||
Net provision for loan losses | 1,263 | (1,566 | ) | (785 | ) | 5,343 | 3,200 | 7,455 | |||||||||||||||||||||||||
(Increase) decrease in FDIC loss share receivable | (121 | ) | (893 | ) | 537 | (6,306 | ) | (1,832 | ) | (8,615 | ) | ||||||||||||||||||||||
Ending balance | $ | 2,323 | $ | 2,655 | $ | 10,929 | $ | 27,989 | $ | 9,198 | $ | 53,094 | |||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Amounts related to acquired-impaired loans | $ | 2,323 | $ | 2,655 | $ | 10,929 | $ | 27,989 | $ | 9,198 | $ | 53,094 | |||||||||||||||||||||
Collectively evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 23,390 | $ | 20,229 | $ | 53,165 | $ | 209,018 | $ | 52,864 | $ | 358,666 | |||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Acquired-impaired loans | $ | 23,390 | $ | 20,229 | $ | 53,165 | $ | 209,018 | $ | 52,864 | $ | 358,666 | |||||||||||||||||||||
Collectively evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Commercial | Construction | Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||||||
non-real | and land | real estate | mortgages | ||||||||||||||||||||||||||||||
estate | development | ||||||||||||||||||||||||||||||||
(In thousands) | Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 23,725 | $ | 17,038 | $ | 36,392 | $ | 36,877 | $ | 22,139 | $ | 136,171 | |||||||||||||||||||||
Charge-offs | (7,742 | ) | (11,556 | ) | (9,939 | ) | (3,829 | ) | (19,344 | ) | (52,410 | ) | |||||||||||||||||||||
Recoveries | 5,880 | 2,411 | 9,517 | 1,949 | 5,989 | 25,746 | |||||||||||||||||||||||||||
Net provision for loan losses | 15,275 | 1,845 | (4,895 | ) | 6,190 | 14,319 | 32,734 | ||||||||||||||||||||||||||
(Increase) decrease in FDIC loss share receivable | (121 | ) | (893 | ) | 537 | (6,306 | ) | (1,832 | ) | (8,615 | ) | ||||||||||||||||||||||
Ending balance | $ | 37,017 | $ | 8,845 | $ | 31,612 | $ | 34,881 | $ | 21,271 | $ | 133,626 | |||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 477 | $ | 22 | $ | 268 | $ | 1 | $ | — | $ | 768 | |||||||||||||||||||||
Amounts related to acquired-impaired loans | 2,323 | 2,655 | 10,929 | 27,989 | 9,198 | 53,094 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 34,217 | $ | 6,168 | $ | 20,415 | $ | 6,891 | $ | 12,073 | $ | 79,764 | |||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 5,064,224 | $ | 915,541 | $ | 3,042,841 | $ | 1,720,614 | $ | 1,581,597 | $ | 12,324,817 | |||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | 7,435 | 11,327 | 16,367 | 605 | — | 35,734 | |||||||||||||||||||||||||||
Acquired-impaired loans | 42,484 | 37,564 | 79,223 | 214,512 | 52,958 | 426,741 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 5,014,305 | $ | 866,650 | $ | 2,947,251 | $ | 1,505,497 | $ | 1,528,639 | $ | 11,862,342 | |||||||||||||||||||||
Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||||||||
(In thousands) | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 60,211 | $ | 4,894 | $ | 18,141 | $ | 83,246 | |||||||||||||||||||||||||
Charge-offs | (42,277 | ) | (6,275 | ) | (16,208 | ) | (64,760 | ) | |||||||||||||||||||||||||
Recoveries | 5,375 | 324 | 4,030 | 9,729 | |||||||||||||||||||||||||||||
Net provision for loan losses | 35,840 | 7,463 | 7,256 | 50,559 | |||||||||||||||||||||||||||||
Ending balance | $ | 59,149 | $ | 6,406 | $ | 13,219 | $ | 78,774 | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 6,377 | $ | — | $ | — | $ | 6,377 | |||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 52,772 | $ | 6,406 | $ | 13,219 | $ | 72,397 | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 4,927,460 | $ | 827,985 | $ | 1,351,776 | $ | 7,107,221 | |||||||||||||||||||||||||
Individually evaluated for impairment | 70,555 | 2,721 | — | 73,276 | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 4,856,905 | $ | 825,264 | $ | 1,351,776 | $ | 7,033,945 | |||||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Charge-offs | — | — | — | — | |||||||||||||||||||||||||||||
Recoveries | — | — | — | — | |||||||||||||||||||||||||||||
Net provision for loan losses | 788 | — | — | 788 | |||||||||||||||||||||||||||||
Ending balance | $ | 788 | $ | — | $ | — | $ | 788 | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 788 | $ | — | $ | — | $ | 788 | |||||||||||||||||||||||||
Amounts related to acquired-impaired loans | — | — | — | — | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 3,265,340 | $ | 486,444 | $ | 202,974 | $ | 3,954,758 | |||||||||||||||||||||||||
Individually evaluated for impairment | 5,339 | — | — | 5,339 | |||||||||||||||||||||||||||||
Acquired-impaired loans | 123,315 | 20,314 | 644 | 144,273 | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 3,136,686 | $ | 466,130 | $ | 202,330 | $ | 3,805,146 | |||||||||||||||||||||||||
Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||||||||
(In thousands) | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 18,203 | $ | 9,024 | $ | 14,408 | $ | 41,635 | |||||||||||||||||||||||||
Charge-offs | (29,947 | ) | — | (1,094 | ) | (31,041 | ) | ||||||||||||||||||||||||||
Recoveries | 4,894 | — | 78 | 4,972 | |||||||||||||||||||||||||||||
Net provision for loan losses | (895 | ) | 11,948 | (8,208 | ) | 2,845 | |||||||||||||||||||||||||||
Increase in FDIC loss share receivable | 25,777 | 11,702 | 719 | 38,198 | |||||||||||||||||||||||||||||
Ending balance | $ | 18,032 | $ | 32,674 | $ | 5,903 | $ | 56,609 | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Amounts related to acquired-impaired loans | 18,032 | 32,674 | 5,903 | 56,609 | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 152,888 | $ | 263,515 | $ | 99,420 | $ | 515,823 | |||||||||||||||||||||||||
Individually evaluated for impairment | — | — | — | — | |||||||||||||||||||||||||||||
Acquired-impaired loans | 152,888 | 263,515 | 99,420 | 515,823 | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 78,414 | $ | 13,918 | $ | 32,549 | $ | 124,881 | |||||||||||||||||||||||||
Charge-offs | (72,224 | ) | (6,275 | ) | (17,302 | ) | (95,801 | ) | |||||||||||||||||||||||||
Recoveries | 10,269 | 324 | 4,108 | 14,701 | |||||||||||||||||||||||||||||
Net provision for loan losses | 35,733 | 19,411 | (952 | ) | 54,192 | ||||||||||||||||||||||||||||
Increase in FDIC loss share receivable | 25,777 | 11,702 | 719 | 38,198 | |||||||||||||||||||||||||||||
Ending balance | $ | 77,969 | $ | 39,080 | $ | 19,122 | $ | 136,171 | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 7,165 | $ | — | $ | — | $ | 7,165 | |||||||||||||||||||||||||
Amounts related to acquired-impaired loans | 18,032 | 32,674 | 5,903 | 56,609 | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 52,772 | $ | 6,406 | $ | 13,219 | $ | 72,397 | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Ending balance: | $ | 8,345,688 | $ | 1,577,944 | $ | 1,654,170 | $ | 11,577,802 | |||||||||||||||||||||||||
Individually evaluated for impairment | 75,894 | 2,721 | — | 78,615 | |||||||||||||||||||||||||||||
Acquired-impaired loans | 276,203 | 283,829 | 100,064 | 660,096 | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 7,993,591 | $ | 1,219,394 | $ | 1,554,106 | $ | 10,839,091 | |||||||||||||||||||||||||
Schedule of Activity in Loss Share Receivable | ' | ||||||||||||||||||||||||||||||||
The following schedule shows activity in the loss share receivable for 2013 and 2012: | |||||||||||||||||||||||||||||||||
(In thousands) | December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
Balance, January 1 | $ | 177,844 | $ | 231,085 | |||||||||||||||||||||||||||||
(Amortization) accretion | (2,239 | ) | 5,000 | ||||||||||||||||||||||||||||||
Charge-offs, write-downs and other losses | (9,123 | ) | 45,459 | ||||||||||||||||||||||||||||||
External expenses qualifying under loss share agreement | 9,117 | 11,276 | |||||||||||||||||||||||||||||||
Payments received from the FDIC | (61,765 | ) | (114,976 | ) | |||||||||||||||||||||||||||||
Balance, December 31 | $ | 113,834 | $ | 177,844 | |||||||||||||||||||||||||||||
Summary of Composition of Non-Accrual Loans by Portfolio Segment | ' | ||||||||||||||||||||||||||||||||
The following table shows the composition of non-accrual loans by portfolio segment and class. Acquired impaired and certain covered loans are considered to be performing due to the application of the accretion method and are excluded from the table. Covered loans accounted for using the cost recovery method do not have an accretable yield and are included below as non-accrual loans. Acquired performing loans that have subsequently been placed on non-accrual status are also included below. | |||||||||||||||||||||||||||||||||
Non-accrual Loans | December 31, | December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 10,119 | $ | 18,941 | |||||||||||||||||||||||||||||
Construction and land development | 13,171 | 32,777 | |||||||||||||||||||||||||||||||
Commercial real estate | 32,772 | 40,190 | |||||||||||||||||||||||||||||||
Residential mortgages | 13,449 | 7,705 | |||||||||||||||||||||||||||||||
Consumer | 4,802 | 3,815 | |||||||||||||||||||||||||||||||
Total originated loans | $ | 74,313 | $ | 103,428 | |||||||||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 3,209 | $ | 4,326 | |||||||||||||||||||||||||||||
Construction and land development | 1,990 | 5,967 | |||||||||||||||||||||||||||||||
Commercial real estate | 6,525 | 6,609 | |||||||||||||||||||||||||||||||
Residential mortgages | 8,262 | 10,551 | |||||||||||||||||||||||||||||||
Consumer | 1,814 | 2,634 | |||||||||||||||||||||||||||||||
Total acquired loans | $ | 21,800 | $ | 30,087 | |||||||||||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 2 | $ | — | |||||||||||||||||||||||||||||
Construction and land development | 1,539 | 2,487 | |||||||||||||||||||||||||||||||
Commercial real estate | 1,163 | 1,220 | |||||||||||||||||||||||||||||||
Residential mortgages | 544 | 393 | |||||||||||||||||||||||||||||||
Consumer | 296 | — | |||||||||||||||||||||||||||||||
Total covered loans | $ | 3,544 | $ | 4,100 | |||||||||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 13,330 | $ | 23,267 | |||||||||||||||||||||||||||||
Construction and land development | 16,700 | 41,231 | |||||||||||||||||||||||||||||||
Commercial real estate | 40,460 | 48,019 | |||||||||||||||||||||||||||||||
Residential mortgages | 22,255 | 18,649 | |||||||||||||||||||||||||||||||
Consumer | 6,912 | 6,449 | |||||||||||||||||||||||||||||||
Total loans | $ | 99,657 | $ | 137,615 | |||||||||||||||||||||||||||||
Schedule of Troubled Debt Restructurings Occurred During Period by Portfolio Segment | ' | ||||||||||||||||||||||||||||||||
The table below details the TDRs that occurred during 2013 and 2012 by portfolio segment and TDRs that subsequently defaulted within twelve months of modification. All are rated substandard and individually evaluated for impairment. | |||||||||||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | Number of | Pre-Modification | Post-Modification | Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | Contracts | Outstanding | Outstanding | ||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 1 | $ | 926 | $ | 909 | 4 | $ | 2,194 | $ | 2,169 | |||||||||||||||||||||||
Construction and land development | — | — | — | — | — | — | |||||||||||||||||||||||||||
Commercial real estate | 4 | 1,332 | 1,157 | 12 | 13,837 | 13,289 | |||||||||||||||||||||||||||
Residential mortgages | 1 | 456 | 330 | 3 | 865 | 728 | |||||||||||||||||||||||||||
Consumer | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total originated loans | 6 | $ | 2,714 | $ | 2,396 | 19 | $ | 16,896 | $ | 16,186 | |||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | 3 | $ | 4,047 | $ | 4,007 | |||||||||||||||||||||||||
Construction and land development | — | — | — | — | — | — | |||||||||||||||||||||||||||
Commercial real estate | 1 | 512 | 472 | 2 | 1,783 | 1,775 | |||||||||||||||||||||||||||
Residential mortgages | 1 | 514 | 503 | — | — | — | |||||||||||||||||||||||||||
Consumer | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total acquired loans | 2 | $ | 1,026 | $ | 975 | 5 | $ | 5,830 | $ | 5,782 | |||||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | — | — | — | |||||||||||||||||||||||||||
Construction and land development | — | — | — | — | — | — | |||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | — | — | |||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | — | |||||||||||||||||||||||||||
Consumer | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total covered loans | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 1 | $ | 926 | $ | 909 | $ | 7 | $ | 6,241 | $ | 6,176 | ||||||||||||||||||||||
Construction and land development | — | — | — | — | — | — | |||||||||||||||||||||||||||
Commercial real estate | 5 | 1,844 | 1,629 | 14 | 15,620 | 15,064 | |||||||||||||||||||||||||||
Residential mortgages | 2 | 970 | 833 | 3 | 865 | 728 | |||||||||||||||||||||||||||
Consumer | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total loans | 8 | $ | 3,740 | $ | 3,371 | $ | 24 | $ | 22,726 | $ | 21,968 | ||||||||||||||||||||||
Summary of Impaired Loans Disaggregated by Class | ' | ||||||||||||||||||||||||||||||||
The tables below present loans that are individually evaluated for impairment disaggregated by class at December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
December 31, 2013 | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 329 | $ | 442 | $ | — | $ | 235 | $ | 18 | |||||||||||||||||||||||
Construction and land development | 4,101 | 5,131 | — | 2,780 | 82 | ||||||||||||||||||||||||||||
Commercial real estate | 5,321 | 7,458 | — | 15,886 | 374 | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | 262 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | 1,013 | — | ||||||||||||||||||||||||||||
9,751 | 13,031 | — | 20,176 | 474 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 4,965 | 5,303 | 477 | 8,936 | 180 | ||||||||||||||||||||||||||||
Construction and land development | 6,498 | 8,343 | 22 | 2,549 | — | ||||||||||||||||||||||||||||
Commercial real estate | 8,708 | 9,090 | 268 | 19,683 | 460 | ||||||||||||||||||||||||||||
Residential mortgages | 605 | 620 | 1 | 228 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | 1,025 | — | ||||||||||||||||||||||||||||
20,776 | 23,356 | 768 | 32,421 | 640 | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 5,294 | 5,745 | 477 | 9,171 | 198 | ||||||||||||||||||||||||||||
Construction and land development | 10,599 | 13,474 | 22 | 5,329 | 82 | ||||||||||||||||||||||||||||
Commercial real estate | 14,029 | 16,548 | 268 | 35,569 | 834 | ||||||||||||||||||||||||||||
Residential mortgages | 605 | 620 | 1 | 490 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | 2,038 | — | ||||||||||||||||||||||||||||
Total originated loans | $ | 30,527 | $ | 36,387 | $ | 768 | $ | 52,597 | $ | 1,114 | |||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 2,141 | 3,275 | — | 865 | 8 | ||||||||||||||||||||||||||||
Construction and land development | 728 | 1,142 | — | 296 | 3 | ||||||||||||||||||||||||||||
Commercial real estate | 1,865 | 2,634 | — | 1,339 | 49 | ||||||||||||||||||||||||||||
Residential mortgages | 473 | 507 | — | 407 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
5,207 | 7,558 | — | 2,907 | 60 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | 2,747 | 63 | ||||||||||||||||||||||||||||
Construction and land development | — | — | — | 157 | — | ||||||||||||||||||||||||||||
Commercial real estate | — | — | — | 2,663 | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | 845 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
— | — | — | 6,412 | 63 | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 2,141 | 3,275 | — | 3,612 | 71 | ||||||||||||||||||||||||||||
Construction and land development | 728 | 1,142 | — | 453 | 3 | ||||||||||||||||||||||||||||
Commercial real estate | 1,865 | 2,634 | — | 4,002 | 49 | ||||||||||||||||||||||||||||
Residential mortgages | 473 | 507 | — | 1,252 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
Total acquired loans | $ | 5,207 | $ | 7,558 | $ | — | $ | 9,319 | $ | 123 | |||||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Construction and land development | — | — | — | — | — | ||||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
— | — | — | — | — | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | — | — | ||||||||||||||||||||||||||||
Construction and land development | — | — | — | — | — | ||||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
— | — | — | — | — | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | — | — | ||||||||||||||||||||||||||||
Construction and land development | — | — | — | — | — | ||||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
Total covered loans | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 2,470 | $ | 3,717 | $ | — | $ | 1,100 | $ | 26 | |||||||||||||||||||||||
Construction and land development | 4,829 | 6,273 | — | 3,076 | 85 | ||||||||||||||||||||||||||||
Commercial real estate | 7,186 | 10,092 | — | 17,225 | 423 | ||||||||||||||||||||||||||||
Residential mortgages | 473 | 507 | — | 669 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | 1,013 | — | ||||||||||||||||||||||||||||
14,958 | 20,589 | — | 23,083 | 534 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 4,965 | 5,303 | 477 | 11,683 | 243 | ||||||||||||||||||||||||||||
Construction and land development | 6,498 | 8,343 | 22 | 2,706 | — | ||||||||||||||||||||||||||||
Commercial real estate | 8,708 | 9,090 | 268 | 22,346 | 460 | ||||||||||||||||||||||||||||
Residential mortgages | 605 | 620 | 1 | 1,073 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | 1,025 | — | ||||||||||||||||||||||||||||
20,776 | 23,356 | 768 | 38,833 | 703 | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | 7,435 | 9,020 | 477 | 12,783 | 269 | ||||||||||||||||||||||||||||
Construction and land development | 11,327 | 14,616 | 22 | 5,782 | 85 | ||||||||||||||||||||||||||||
Commercial real estate | 15,894 | 19,182 | 268 | 39,571 | 883 | ||||||||||||||||||||||||||||
Residential mortgages | 1,078 | 1,127 | 1 | 1,742 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | 2,038 | — | ||||||||||||||||||||||||||||
Total loans | $ | 35,734 | $ | 43,945 | $ | 768 | $ | 61,916 | $ | 1,237 | |||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | 34,705 | $ | 55,101 | $ | — | $ | 23,793 | $ | 464 | |||||||||||||||||||||||
Residential mortgages | 2,721 | 4,874 | — | 3,255 | 155 | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
37,426 | 59,975 | — | 27,048 | 619 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | 35,850 | 37,917 | 6,377 | 41,232 | 703 | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | 4,619 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
35,850 | 37,917 | 6,377 | 45,851 | 703 | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial | 70,555 | 93,018 | 6,377 | 65,025 | 1,167 | ||||||||||||||||||||||||||||
Residential mortgages | 2,721 | 4,874 | — | 7,874 | 155 | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
Total originated loans | $ | 73,276 | $ | 97,892 | $ | 6,377 | $ | 72,899 | $ | 1,322 | |||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | — | — | — | — | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
— | — | — | — | — | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | 6,202 | 6,386 | 788 | 1,551 | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
6,202 | 6,386 | 788 | 1,551 | — | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial | 6,202 | 6,386 | 788 | 1,551 | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
Total acquired loans | $ | 6,202 | $ | 6,386 | $ | 788 | $ | 1,551 | $ | — | |||||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | — | — | — | — | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
— | — | — | — | — | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | — | — | — | — | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
— | — | — | — | — | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial | — | — | — | — | — | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
Total covered loans | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | 34,705 | 55,101 | — | 23,793 | 464 | ||||||||||||||||||||||||||||
Residential mortgages | 2,721 | 4,874 | — | 3,255 | 155 | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
37,426 | 59,975 | — | 27,048 | 619 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | 42,052 | 44,303 | 7,165 | 42,783 | 703 | ||||||||||||||||||||||||||||
Residential mortgages | — | — | — | 4,619 | — | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
42,052 | 44,303 | 7,165 | 47,402 | 703 | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Commercial | 76,757 | 99,404 | 7,165 | 66,576 | 1,167 | ||||||||||||||||||||||||||||
Residential mortgages | 2,721 | 4,874 | — | 7,874 | 155 | ||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||
Total loans | $ | 79,478 | $ | 104,278 | $ | 7,165 | $ | 74,450 | $ | 1,322 | |||||||||||||||||||||||
Summary of Age Analysis of Past Due Loans | ' | ||||||||||||||||||||||||||||||||
The following table presents the age analysis of past due loans at December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||
Age Analysis of Past Due Loans | |||||||||||||||||||||||||||||||||
As of December 31, 2013 and December 31, 2012 | |||||||||||||||||||||||||||||||||
December 31, 2013 | 30-59 days | 60-89 days | Greater than | Total | Current | Total | Recorded | ||||||||||||||||||||||||||
past due | past due | 90 days | past due | Loans | investment | ||||||||||||||||||||||||||||
past due | > 90 days | ||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
accruing | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 11,645 | $ | 1,203 | $ | 4,803 | $ | 17,651 | $ | 4,096,186 | $ | 4,113,837 | $ | 521 | |||||||||||||||||||
Construction and land development | 5,877 | 1,264 | 5,970 | 13,111 | 739,270 | 752,381 | — | ||||||||||||||||||||||||||
Commercial real estate | 8,178 | 5,744 | 14,620 | 28,542 | 1,993,986 | 2,022,528 | 420 | ||||||||||||||||||||||||||
Residential mortgages | 12,410 | 3,870 | 3,540 | 19,820 | 1,176,436 | 1,196,256 | — | ||||||||||||||||||||||||||
Consumer | 8,798 | 1,913 | 3,823 | 14,534 | 1,394,596 | 1,409,130 | 2,344 | ||||||||||||||||||||||||||
Total | $ | 46,908 | $ | 13,994 | $ | 32,756 | $ | 93,658 | $ | 9,400,474 | $ | 9,494,132 | $ | 3,285 | |||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 1,982 | $ | 2,332 | $ | 1,467 | $ | 5,781 | $ | 921,216 | $ | 926,997 | $ | 541 | |||||||||||||||||||
Construction and land development | 862 | 1,529 | 1,161 | 3,552 | 139,379 | 142,931 | 541 | ||||||||||||||||||||||||||
Commercial real estate | 3,742 | 1,345 | 9,026 | 14,113 | 953,035 | 967,148 | 5,853 | ||||||||||||||||||||||||||
Residential mortgages | 5,632 | 2,698 | 5,503 | 13,833 | 301,507 | 315,340 | 72 | ||||||||||||||||||||||||||
Consumer | 1,029 | 120 | 1,013 | 2,162 | 117,441 | 119,603 | 82 | ||||||||||||||||||||||||||
Total | $ | 13,247 | $ | 8,024 | $ | 18,170 | $ | 39,441 | $ | 2,432,578 | $ | 2,472,019 | $ | 7,089 | |||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | — | $ | — | $ | — | $ | — | $ | 23,390 | $ | 23,390 | $ | — | |||||||||||||||||||
Construction and land development | — | — | 1,539 | 1,539 | 18,690 | 20,229 | — | ||||||||||||||||||||||||||
Commercial real estate | — | — | 675 | 675 | 52,490 | 53,165 | — | ||||||||||||||||||||||||||
Residential mortgages | — | — | 3 | 3 | 209,015 | 209,018 | — | ||||||||||||||||||||||||||
Consumer | — | — | — | — | 52,864 | 52,864 | — | ||||||||||||||||||||||||||
Total | $ | — | $ | — | $ | 2,217 | $ | 2,217 | $ | 356,449 | $ | 358,666 | $ | — | |||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | $ | 13,627 | $ | 3,535 | $ | 6,270 | $ | 23,432 | $ | 5,040,792 | $ | 5,064,224 | $ | 1,062 | |||||||||||||||||||
Construction and land development | 6,739 | 2,793 | 8,670 | 18,202 | 897,339 | 915,541 | 541 | ||||||||||||||||||||||||||
Commercial real estate | 11,920 | 7,089 | 24,321 | 43,330 | 2,999,511 | 3,042,841 | 6,273 | ||||||||||||||||||||||||||
Residential mortgages | 18,042 | 6,568 | 9,046 | 33,656 | 1,686,958 | 1,720,614 | 72 | ||||||||||||||||||||||||||
Consumer | 9,827 | 2,033 | 4,836 | 16,696 | 1,564,901 | 1,581,597 | 2,439 | ||||||||||||||||||||||||||
Total | $ | 60,155 | $ | 22,018 | $ | 53,143 | $ | 135,316 | $ | 12,189,501 | $ | 12,324,817 | $ | 10,387 | |||||||||||||||||||
December 31, 2012 | 30-59 days | 60-89 days | Greater than | Total | Current | Total | Recorded | ||||||||||||||||||||||||||
past due | past due | 90 days | past due | Loans | investment | ||||||||||||||||||||||||||||
past due | > 90 days | ||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
accruing | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | 24,398 | $ | 16,508 | $ | 46,355 | $ | 87,261 | $ | 4,840,199 | $ | 4,927,460 | $ | 5,262 | |||||||||||||||||||
Residential mortgages | 11,500 | 3,303 | 4,100 | 18,903 | 809,082 | 827,985 | — | ||||||||||||||||||||||||||
Consumer | 10,348 | 2,150 | 4,231 | 16,729 | 1,335,047 | 1,351,776 | 2,474 | ||||||||||||||||||||||||||
Total | $ | 46,246 | $ | 21,961 | $ | 54,686 | $ | 122,893 | $ | 6,984,328 | $ | 7,107,221 | $ | 7,736 | |||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | 28,791 | $ | 4,666 | $ | 15,774 | $ | 49,231 | $ | 3,216,109 | $ | 3,265,340 | $ | 4,354 | |||||||||||||||||||
Residential mortgages | 9,641 | 1,290 | 8,996 | 19,927 | 466,517 | 486,444 | 1,106 | ||||||||||||||||||||||||||
Consumer | 1,282 | 430 | 2,170 | 3,882 | 199,092 | 202,974 | 47 | ||||||||||||||||||||||||||
Total | $ | 39,714 | $ | 6,386 | $ | 26,940 | $ | 73,040 | $ | 3,881,718 | $ | 3,954,758 | $ | 5,507 | |||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | — | $ | — | $ | 3,707 | $ | 3,707 | $ | 149,181 | $ | 152,888 | $ | — | |||||||||||||||||||
Residential mortgages | — | — | 393 | 393 | 263,122 | 263,515 | — | ||||||||||||||||||||||||||
Consumer | — | — | — | — | 99,420 | 99,420 | — | ||||||||||||||||||||||||||
Total | $ | — | $ | — | $ | 4,100 | $ | 4,100 | $ | 511,723 | $ | 515,823 | $ | — | |||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | 53,189 | $ | 21,174 | $ | 65,836 | $ | 140,199 | $ | 8,205,489 | $ | 8,345,688 | $ | 9,616 | |||||||||||||||||||
Residential mortgages | 21,141 | 4,593 | 13,489 | 39,223 | 1,538,721 | 1,577,944 | 1,106 | ||||||||||||||||||||||||||
Consumer | 11,630 | 2,580 | 6,401 | 20,611 | 1,633,559 | 1,654,170 | 2,521 | ||||||||||||||||||||||||||
Total | $ | 85,960 | $ | 28,347 | $ | 85,726 | $ | 200,033 | $ | 11,377,769 | $ | 11,577,802 | $ | 13,243 | |||||||||||||||||||
Credit Risk Profile Based on Payment Activity | ' | ||||||||||||||||||||||||||||||||
Consumer Credit Exposure | |||||||||||||||||||||||||||||||||
Credit Risk Profile Based on Payment Activity | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Originated | Acquired | Covered | Total | Originated | Acquired | Covered | Total | ||||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||
Performing | $ | 1,404,032 | $ | 117,789 | $ | 52,864 | $ | 1,574,685 | $ | 1,345,487 | $ | 200,292 | $ | 99,420 | $ | 1,645,199 | |||||||||||||||||
Nonperforming | 5,098 | 1,814 | — | 6,912 | 6,289 | 2,682 | — | 8,971 | |||||||||||||||||||||||||
Total | $ | 1,409,130 | $ | 119,603 | $ | 52,864 | $ | 1,581,597 | $ | 1,351,776 | $ | 202,974 | $ | 99,420 | $ | 1,654,170 | |||||||||||||||||
Changes in Carrying Amount of Covered Acquired Loans and Accretable Yield for Loans Receivable | ' | ||||||||||||||||||||||||||||||||
Changes in the carrying amount of acquired impaired loans and accretable yield are presented in the following table for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Covered | Non-covered | Covered | Non-covered | ||||||||||||||||||||||||||||||
Carrying | Accretable | Carrying | Accretable | Carrying | Accretable | Carrying | Accretable | ||||||||||||||||||||||||||
Amount | Yield | Amount | Yield | Amount | Yield | Amount | Yield | ||||||||||||||||||||||||||
of Loans | of Loans | of Loans | of Loans | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 515,823 | $ | 115,594 | $ | 141,201 | $ | 203,186 | $ | 671,443 | $ | 153,137 | $ | 339,452 | $ | 130,691 | |||||||||||||||||
Additions | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Payments received, net | (189,987 | ) | (1,298 | ) | (116,187 | ) | (47,330 | ) | (200,719 | ) | — | (250,338 | ) | — | |||||||||||||||||||
Accretion | 32,830 | (32,830 | ) | 43,061 | (43,061 | ) | 45,099 | (45,099 | ) | 52,087 | (52,087 | ) | |||||||||||||||||||||
(Decrease)/Increase in expected cash flows based on actual cash flow and changes in cash flow assumptions | — | (17,433 | ) | — | 3,894 | — | (19,326 | ) | — | 23,688 | |||||||||||||||||||||||
Net transfers from nonaccretable difference to accretable yield | — | 58,682 | — | 14,681 | — | 26,882 | — | 100,894 | |||||||||||||||||||||||||
Balance at end of period | $ | 358,666 | $ | 122,715 | $ | 68,075 | $ | 131,370 | $ | 515,823 | $ | 115,594 | $ | 141,201 | $ | 203,186 | |||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted [Member] | ' | ||||||||||||||||||||||||||||||||
Schedule of Troubled Debt Restructurings Occurred During Period by Portfolio Segment | ' | ||||||||||||||||||||||||||||||||
Troubled Debt Restructurings That | Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||||||
Subsequently Defaulted: | Contracts | Investment | Contracts | Investment | |||||||||||||||||||||||||||||
Originated loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | — | |||||||||||||||||||||||||||||
Construction and land development | — | — | — | — | |||||||||||||||||||||||||||||
Commercial real estate | 6 | 2,487 | 1 | $ | 275 | ||||||||||||||||||||||||||||
Residential mortgages | 1 | 254 | — | — | |||||||||||||||||||||||||||||
Consumer | — | — | — | — | |||||||||||||||||||||||||||||
Total originated loans | 7 | $ | 2,741 | 1 | $ | 275 | |||||||||||||||||||||||||||
Acquired loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | — | |||||||||||||||||||||||||||||
Construction and land development | — | — | — | — | |||||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | |||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | |||||||||||||||||||||||||||||
Consumer | — | — | — | — | |||||||||||||||||||||||||||||
Total acquired loans | — | $ | — | — | $ | — | |||||||||||||||||||||||||||
Covered loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | — | |||||||||||||||||||||||||||||
Construction and land development | — | — | — | — | |||||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | |||||||||||||||||||||||||||||
Residential mortgages | — | — | — | — | |||||||||||||||||||||||||||||
Consumer | — | — | — | — | |||||||||||||||||||||||||||||
Total covered loans | — | $ | — | — | $ | — | |||||||||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||||||
Commercial non-real estate | — | — | — | — | |||||||||||||||||||||||||||||
Construction and land development | — | — | — | — | |||||||||||||||||||||||||||||
Commercial real estate | 6 | 2,487 | 1 | $ | 275 | ||||||||||||||||||||||||||||
Residential mortgages | 1 | 254 | — | — | |||||||||||||||||||||||||||||
Consumer | — | — | — | — | |||||||||||||||||||||||||||||
Total loans | 7 | $ | 2,741 | 1 | $ | 275 | |||||||||||||||||||||||||||
Commercial non-real estate [Member] | ' | ||||||||||||||||||||||||||||||||
Schedule of Credit Quality Indicators of Various Classes of Loans | ' | ||||||||||||||||||||||||||||||||
The following table presents the credit quality indicators of the Company’s various classes of loans at December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||
Commercial Non-Real Estate Credit Exposure | |||||||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Originated | Acquired | Covered | Total | Originated | Acquired | Covered | Total | ||||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||
Pass | $ | 3,990,318 | $ | 846,135 | $ | 10,476 | $ | 4,846,929 | $ | 2,610,970 | $ | 1,588,435 | $ | 14,855 | $ | 4,214,260 | |||||||||||||||||
Pass-Watch | 46,734 | 44,105 | 9 | 90,848 | 32,393 | 52,361 | 74 | 84,828 | |||||||||||||||||||||||||
Special Mention | 41,812 | 19,915 | 2,897 | 64,624 | 23,550 | 6,267 | 3,226 | 33,043 | |||||||||||||||||||||||||
Substandard | 34,276 | 16,125 | 9,662 | 60,063 | 46,472 | 43,219 | 8,433 | 98,124 | |||||||||||||||||||||||||
Doubtful | 695 | 718 | 345 | 1,758 | — | 361 | 2,672 | 3,033 | |||||||||||||||||||||||||
Loss | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Total | $ | 4,113,835 | $ | 926,998 | $ | 23,389 | $ | 5,064,222 | $ | 2,713,385 | $ | 1,690,643 | $ | 29,260 | $ | 4,433,288 | |||||||||||||||||
Residential mortgages [Member] | ' | ||||||||||||||||||||||||||||||||
Schedule of Credit Quality Indicators of Various Classes of Loans | ' | ||||||||||||||||||||||||||||||||
Residential Mortgage Credit Exposure | |||||||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Originated | Acquired | Covered | Total | Originated | Acquired | Covered | Total | ||||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||
Performing | $ | 1,182,266 | $ | 307,078 | $ | 209,015 | $ | 1,698,359 | $ | 820,281 | $ | 475,893 | $ | 263,515 | $ | 1,559,689 | |||||||||||||||||
Nonperforming | 13,990 | 8,262 | 3 | 22,255 | 7,704 | 10,551 | — | 18,255 | |||||||||||||||||||||||||
Total | $ | 1,196,256 | $ | 315,340 | $ | 209,018 | $ | 1,720,614 | $ | 827,985 | $ | 486,444 | $ | 263,515 | $ | 1,577,944 | |||||||||||||||||
Construction and land development [Member] | ' | ||||||||||||||||||||||||||||||||
Schedule of Credit Quality Indicators of Various Classes of Loans | ' | ||||||||||||||||||||||||||||||||
Construction Credit Exposure | |||||||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Originated | Acquired | Covered | Total | Originated | Acquired | Covered | Total | ||||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||
Pass | $ | 709,261 | $ | 112,773 | $ | — | $ | 822,034 | $ | 557,511 | $ | 249,269 | $ | 331 | $ | 807,111 | |||||||||||||||||
Pass-Watch | 7,817 | 1,907 | 1,226 | 10,950 | 13,705 | 2,993 | 1,028 | 17,726 | |||||||||||||||||||||||||
Special Mention | 3,926 | 9,409 | 276 | 13,611 | 30,522 | 12,248 | 420 | 43,190 | |||||||||||||||||||||||||
Substandard | 31,377 | 18,842 | 11,498 | 61,717 | 63,925 | 30,637 | 7,311 | 101,873 | |||||||||||||||||||||||||
Doubtful | — | — | 7,228 | 7,228 | 10 | 4 | 19,392 | 19,406 | |||||||||||||||||||||||||
Loss | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Total | $ | 752,381 | $ | 142,931 | $ | 20,228 | $ | 915,540 | $ | 665,673 | $ | 295,151 | $ | 28,482 | $ | 989,306 | |||||||||||||||||
Commercial real estate [Member] | ' | ||||||||||||||||||||||||||||||||
Schedule of Credit Quality Indicators of Various Classes of Loans | ' | ||||||||||||||||||||||||||||||||
Commercial Real Estate Credit Exposure | |||||||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Originated | Acquired | Covered | Total | Originated | Acquired | Covered | Total | ||||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||
Pass | $ | 1,864,116 | $ | 896,578 | $ | 1,678 | $ | 2,762,372 | $ | 1,353,453 | $ | 1,173,617 | $ | 16,693 | $ | 2,543,763 | |||||||||||||||||
Pass-Watch | 49,578 | 9,530 | 10,266 | 69,374 | 36,507 | 16,051 | 15,015 | 67,573 | |||||||||||||||||||||||||
Special Mention | 15,785 | 19,798 | 1,999 | 37,582 | 29,912 | 21,116 | 3,787 | 54,815 | |||||||||||||||||||||||||
Substandard | 93,034 | 41,242 | 31,350 | 165,626 | 128,088 | 68,762 | 31,298 | 228,148 | |||||||||||||||||||||||||
Doubtful | 16 | — | 7,872 | 7,888 | 442 | — | 28,353 | 28,795 | |||||||||||||||||||||||||
Loss | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Total | $ | 2,022,529 | $ | 967,148 | $ | 53,165 | $ | 3,042,842 | $ | 1,548,402 | $ | 1,279,546 | $ | 95,146 | $ | 2,923,094 |
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-Term Debt | ' | ||||||||
Long-term debt consisted of the following: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Subordinated notes payable | $ | 98,011 | $ | 98,011 | |||||
Term note payable | 184,800 | 220,000 | |||||||
Other long-term debt | 103,015 | 78,578 | |||||||
Total long-term debt | $ | 385,826 | $ | 396,589 | |||||
Derivatives_Tables
Derivatives (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Fair Values of Derivative Instruments on Balance Sheet | ' | ||||||||||||||||||||||||||
The table below presents the notional amounts and fair values (in thousands) of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets as of December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||||
Fair and Notional Values of Derivative Instruments | |||||||||||||||||||||||||||
Fair Values (1) | |||||||||||||||||||||||||||
Notional Amounts | Assets | Liabilities | |||||||||||||||||||||||||
(in thousands) | Type of | December 31, | December 31, | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||
Hedge | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||
Interest rate swaps | Cash Flow | $ | — | $ | 140,000 | $ | — | $ | — | $ | — | $ | 298 | ||||||||||||||
$ | — | $ | 140,000 | $ | — | $ | — | $ | — | $ | 298 | ||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||
Interest rate swaps (2) | N/A | $ | 650,667 | $ | 547,477 | $ | 14,147 | $ | 19,448 | $ | 13,777 | $ | 20,157 | ||||||||||||||
Risk participation agreements | N/A | 19,736 | — | 2 | — | 2 | — | ||||||||||||||||||||
Forward commitments to sell residential mortgage loans | N/A | 45,910 | 115,256 | 326 | 190 | 115 | 590 | ||||||||||||||||||||
Interest rate-lock commitments on residential mortgage loans | N/A | 25,956 | 58,135 | 56 | 455 | 107 | 55 | ||||||||||||||||||||
Foreign exchange forward contracts | N/A | 21,299 | — | 1,048 | — | 1,005 | — | ||||||||||||||||||||
$ | 763,568 | $ | 720,868 | $ | 15,579 | $ | 20,093 | $ | 15,006 | $ | 20,802 | ||||||||||||||||
-1 | Derivative assets and liabilities are reported with other assets or other liabilities, respectively, in the consolidated balance sheets. | ||||||||||||||||||||||||||
-2 | The notional amount represents both the customer accommodation agreements and offsetting agreements with unrelated financial institutions. | ||||||||||||||||||||||||||
Offsetting Derivative Assets and Liabilities | ' | ||||||||||||||||||||||||||
Offsetting information in regards to derivative assets and liabilities subject to master netting agreements at December 31, 2013 and December 31, 2012 is presented in the following tables (in thousands): | |||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||
Gross | Gross | Net | |||||||||||||||||||||||||
Amounts | Amounts | Amounts | Gross Amounts Not Offset in the | ||||||||||||||||||||||||
Recognized | Offset in | Presented | Statement of Financial Position | ||||||||||||||||||||||||
the | in the | ||||||||||||||||||||||||||
Statement | Statement | ||||||||||||||||||||||||||
of Financial | of Financial | ||||||||||||||||||||||||||
Description | Position | Position | Financial | Cash Collateral | Net | ||||||||||||||||||||||
Instruments | Amount | ||||||||||||||||||||||||||
Derivative Assets | $ | 14,149 | $ | — | $ | 14,149 | $ | 3,462 | $ | — | $ | 10,687 | |||||||||||||||
Repurchase, securities borrowing, and similar arrangements | — | — | — | — | — | — | |||||||||||||||||||||
Total | $ | 14,149 | $ | — | $ | 14,149 | $ | 3,462 | $ | — | $ | 10,687 | |||||||||||||||
Derivative Liabilities | $ | 13,779 | $ | — | $ | 13,779 | $ | 3,462 | $ | 7,406 | $ | 2,911 | |||||||||||||||
Reverse repurchase, securities lending, and similar arrangements | — | — | — | — | — | — | |||||||||||||||||||||
Total | $ | 13,779 | $ | — | $ | 13,779 | $ | 3,462 | $ | 7,406 | $ | 2,911 | |||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||
Description | Gross | Gross | Net | ||||||||||||||||||||||||
Amounts | Amounts | Amounts | Gross Amounts Not Offset in the | ||||||||||||||||||||||||
Recognized | Offset in | Presented | Statement of Financial Position | ||||||||||||||||||||||||
the | in the | ||||||||||||||||||||||||||
Statement | Statement | ||||||||||||||||||||||||||
of Financial | of Financial | ||||||||||||||||||||||||||
Position | Position | Financial | Cash Collateral | Net | |||||||||||||||||||||||
Instruments | Amount | ||||||||||||||||||||||||||
Derivative Assets | $ | 19,448 | $ | — | $ | 19,448 | $ | — | $ | — | $ | 19,448 | |||||||||||||||
Repurchase, securities borrowing, and similar arrangements | — | — | — | — | — | — | |||||||||||||||||||||
Total | $ | 19,448 | $ | — | $ | 19,448 | $ | — | $ | — | $ | 19,448 | |||||||||||||||
Derivative Liabilities | $ | 20,455 | $ | — | $ | 20,455 | $ | — | $ | 16,839 | $ | 3,616 | |||||||||||||||
Reverse repurchase, securities lending, and similar arrangements | — | — | — | — | — | — | |||||||||||||||||||||
Total | $ | 20,455 | $ | — | $ | 20,455 | $ | — | $ | 16,839 | $ | 3,616 |
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment | ' | ||||||||
Property and equipment consisted of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Land and land improvements | $ | 98,064 | $ | 121,013 | |||||
Buildings and leasehold improvements | 356,618 | 373,333 | |||||||
Furniture, fixtures and equipment | 90,948 | 99,288 | |||||||
Software | 51,924 | 28,167 | |||||||
Assets under development | 7,590 | 16,655 | |||||||
605,144 | 638,456 | ||||||||
Accumulated depreciation and amortization | (172,798 | ) | (160,592 | ) | |||||
Property and equipment, net | $ | 432,346 | $ | 477,864 | |||||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Components of Other Intangible Assets and Related Amortization | ' | ||||||||||||
The carrying value of intangible assets subject to amortization was as follows (in thousands): | |||||||||||||
December 31, 2013 | |||||||||||||
Purchase | Accumulated | Carrying | |||||||||||
Value | Amortization | Value | |||||||||||
Core deposit intangibles | $ | 198,002 | $ | 65,357 | $ | 132,645 | |||||||
Credit card and trust relationships | 22,400 | 7,800 | 14,600 | ||||||||||
Value of insurance business acquired | 2,431 | 2,232 | 199 | ||||||||||
Non-compete agreements | 400 | 300 | 100 | ||||||||||
Trade name | 11,722 | 6,729 | 4,993 | ||||||||||
Merchant processing relationships | 10,000 | 2,764 | 7,236 | ||||||||||
$ | 244,955 | $ | 85,182 | $ | 159,773 | ||||||||
31-Dec-12 | |||||||||||||
Purchase | Accumulated | Carrying | |||||||||||
Value | Amortization | Value | |||||||||||
Core deposit intangibles | $ | 200,547 | $ | 45,832 | $ | 154,715 | |||||||
Credit card and trust relationships | 22,400 | 4,980 | 17,420 | ||||||||||
Value of insurance business acquired | 2,431 | 2,084 | 347 | ||||||||||
Non-compete agreements | 400 | 100 | 300 | ||||||||||
Trade name | 11,722 | 4,124 | 7,598 | ||||||||||
Merchant processing relationships | 10,000 | 971 | 9,029 | ||||||||||
$ | 247,500 | $ | 58,091 | $ | 189,409 | ||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Aggregate amortization expense for: | |||||||||||||
Core deposit intangibles | $ | 21,905 | $ | 23,642 | $ | 14,474 | |||||||
Credit card and trust relationships | 2,819 | 3,072 | 1,908 | ||||||||||
Value of insurance business acquired | 148 | 158 | 169 | ||||||||||
Non-compete agreements | 200 | 100 | — | ||||||||||
Trade name | 2,605 | 4,124 | — | ||||||||||
Merchant processing relationships | 1,793 | 971 | — | ||||||||||
$ | 29,470 | $ | 32,067 | $ | 16,551 | ||||||||
Estimated Amortization Expense of Other Intangible Assets | ' | ||||||||||||
The following table shows estimated amortization expense of other intangible assets for the five succeeding years and thereafter, calculated based on current amortization schedules (in thousands): | |||||||||||||
2014 | $ | 26,925 | |||||||||||
2015 | 24,363 | ||||||||||||
2016 | 19,872 | ||||||||||||
2017 | 17,825 | ||||||||||||
2018 | 15,773 | ||||||||||||
Thereafter | 55,015 | ||||||||||||
$ | 159,773 | ||||||||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Banking And Thrift [Abstract] | ' | ||||
Maturities of Time Deposits | ' | ||||
The maturities of time deposits at December 31, 2013 follow (in thousands): | |||||
2014 | $ | 1,561,097 | |||
2015 | 325,173 | ||||
2016 | 130,126 | ||||
2017 | 108,831 | ||||
2018 | 24,767 | ||||
Thereafter | 8,865 | ||||
Total time deposits | $ | 2,158,859 | |||
ShortTerm_Borrowings_Tables
Short-Term Borrowings (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Short-Term Borrowings | ' | ||||||||
The following table presents information concerning short-term borrowings (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Federal funds purchased | |||||||||
Amount outstanding at period-end | $ | 7,725 | $ | 25,704 | |||||
Weighted average interest rate at period-end | 0.13 | % | 0.37 | % | |||||
Weighted average interest rate during the year | 0.22 | % | 0.22 | % | |||||
Average daily balance during the year | $ | 32,960 | $ | 30,137 | |||||
Maximum month end balance during the year | $ | 37,320 | $ | 33,964 | |||||
Securities sold under agreements to repurchase | |||||||||
Amount outstanding at period-end | $ | 650,235 | $ | 613,429 | |||||
Weighted average interest rate at period-end | 0.64 | % | 0.72 | % | |||||
Weighted average interest rate during the year | 0.58 | % | 0.78 | % | |||||
Average daily balance during the year | $ | 763,259 | $ | 760,938 | |||||
Maximum month end balance during the year | $ | 797,615 | $ | 1,005,014 | |||||
FHLB borrowings: | |||||||||
Amount outstanding at period-end | $ | — | $ | — | |||||
Weighted average interest rate at period-end | — | — | |||||||
Weighted average interest rate during the year | 0.18 | % | 0.16 | % | |||||
Average daily balance during the year | $ | 9,863 | $ | 32,571 | |||||
Maximum month end balance during the year | $ | — | $ | — |
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
Components of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||||||
A rollforward of the components of accumulated other comprehensive income (loss) is included as follows (in thousands): | |||||||||||||||||||||||||
Available for Sale | Held to Maturity | Employee Benefit | Loss on Effective | Total | |||||||||||||||||||||
Securities | Securities | Plans | Cash Flow | ||||||||||||||||||||||
Transferred from | Hedges | ||||||||||||||||||||||||
AFS | |||||||||||||||||||||||||
Balance, December 31, 2010 | $ | 27,232 | $ | — | $ | (27,851 | ) | $ | — | $ | (619 | ) | |||||||||||||
Other comprehensive income before income taxes: | |||||||||||||||||||||||||
Net change in unrealized gain (loss) | 52,300 | — | (94,848 | ) | (107 | ) | (42,655 | ) | |||||||||||||||||
Reclassification adjustment for net losses realized and included in earnings | 91 | — | 2,832 | — | 2,923 | ||||||||||||||||||||
Income tax expense (benefit) | 19,145 | — | (32,944 | ) | (42 | ) | (13,841 | ) | |||||||||||||||||
Balance, December 31, 2011 | 60,478 | — | (86,923 | ) | (65 | ) | (26,510 | ) | |||||||||||||||||
Other comprehensive income before income taxes: | |||||||||||||||||||||||||
Net change in unrealized gain (loss) | 6,076 | — | 2,566 | (502 | ) | 8,140 | |||||||||||||||||||
Transfer of net unrealized gain from AFS to HTM, net of cummulative tax effect | (24,598 | ) | 24,598 | — | — | — | |||||||||||||||||||
Reclassification adjustment for net losses realized and included in earnings | (1,441 | ) | — | 7,457 | 311 | 6,327 | |||||||||||||||||||
Amortization of unrealized net gain on securities transferred to held-to-maturity | — | (8,752 | ) | — | — | (8,752 | ) | ||||||||||||||||||
Income tax expense (benefit) | 1,661 | (3,244 | ) | 3,788 | (75 | ) | 2,130 | ||||||||||||||||||
Balance, December 31, 2012 | 38,854 | 19,090 | (80,688 | ) | (181 | ) | (22,925 | ) | |||||||||||||||||
Other comprehensive income before income taxes: | |||||||||||||||||||||||||
Net change in unrealized gain (loss) | (105,270 | ) | — | 82,653 | (4 | ) | (22,621 | ) | |||||||||||||||||
Transfer of net unrealized gain from AFS to HTM, net of cummulative tax effect | 36,208 | (36,208 | ) | — | — | — | |||||||||||||||||||
Reclassification adjustment for net losses realized and included in earnings | (105 | ) | — | 8,331 | 301 | 8,527 | |||||||||||||||||||
Amortization of unrealized net gain on securities transferred to held-to-maturity | — | (6,371 | ) | — | — | (6,371 | ) | ||||||||||||||||||
Income tax expense (benefit) | (38,576 | ) | (2,300 | ) | 32,749 | 116 | (8,011 | ) | |||||||||||||||||
Balance, December 31, 2013 | $ | 8,263 | $ | (21,189 | ) | $ | (22,453 | ) | $ | — | $ | (35,379 | ) | ||||||||||||
Summary of Items in Consolidated Income Statements Affected by Amounts Reclassified from Accumulated Other Comprehensive Income | ' | ||||||||||||||||||||||||
The following table shows the line items in the consolidated income statements affected by amounts reclassified from accumulated other comprehensive income: | |||||||||||||||||||||||||
Twelve Months Ended December 31, | |||||||||||||||||||||||||
Amount reclassified from AOCI (in thousands) | 2013 | 2012 | Increase (decrease) in affected line | ||||||||||||||||||||||
item in the income statement | |||||||||||||||||||||||||
Gains and losses on sale of AFS securities | $ | (105 | ) | $ | (1,441 | ) | Securities gains (losses) | ||||||||||||||||||
Tax effect | (37 | ) | (504 | ) | Income taxes | ||||||||||||||||||||
Net of tax | (68 | ) | (937 | ) | Net income | ||||||||||||||||||||
Amortization/accretion of unrealized net gain/loss on securities transferred to HTM | $ | (6,371 | ) | $ | (8,752 | ) | Interest income | ||||||||||||||||||
Tax effect | (2,230 | ) | (3,063 | ) | Income taxes | ||||||||||||||||||||
Net of tax | (4,141 | ) | (5,689 | ) | Net income | ||||||||||||||||||||
Amortization of defined benefit pension and post-retirement items | $ | 8,331 | $ | 7,457 | (a) Employee benefits expense | ||||||||||||||||||||
Tax effect | 2,916 | 2,610 | Income taxes | ||||||||||||||||||||||
Net of tax | 5,415 | 4,847 | Net income | ||||||||||||||||||||||
Gains and losses on cash flow hedges | $ | 301 | $ | 311 | Interest expense | ||||||||||||||||||||
Tax effect | 105 | 109 | Income taxes | ||||||||||||||||||||||
Net of tax | 196 | 202 | Net income | ||||||||||||||||||||||
Total reclassifications, net of tax | $ | 1,402 | $ | (1,577 | ) | Net income | |||||||||||||||||||
(a) | These accumulated other comprehensive income components are included in the computation of net periodic pension and post-retirement cost that is reported with employee benefits expense (see footnote 12 for additional details). | ||||||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements | ' | ||||||||||||||||||||||||
Following is a summary of the actual regulatory capital amounts and ratios for the Company and the Banks together with corresponding regulatory capital requirements at December 31, 2013 and 2012 (amounts in thousands): | |||||||||||||||||||||||||
Actual | Required for Minimum | To Be Well Capitalized | |||||||||||||||||||||||
Capital Adequacy | Under Prompt | ||||||||||||||||||||||||
Corrective Action | |||||||||||||||||||||||||
Provisions | |||||||||||||||||||||||||
Amount | Ratio % | Amount | Ratio % | Amount | Ratio % | ||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||
Total capital (to risk weighted assets) | |||||||||||||||||||||||||
Company | $ | 1,877,832 | 13.11 | $ | 1,146,061 | 8 | $ | n/a | n/a | ||||||||||||||||
Hancock Bank | 636,871 | 13.48 | 378,093 | 8 | 472,617 | 10 | |||||||||||||||||||
Whitney Bank | 1,187,699 | 12.25 | 775,709 | 8 | 969,636 | 10 | |||||||||||||||||||
Tier 1 capital (to risk weighted assets) | |||||||||||||||||||||||||
Company | $ | 1,685,058 | 11.76 | $ | 573,030 | 4 | $ | n/a | n/a | ||||||||||||||||
Hancock Bank | 577,280 | 12.21 | 189,047 | 4 | 283,570 | 6 | |||||||||||||||||||
Whitney Bank | 1,088,339 | 11.22 | 387,854 | 4 | 581,782 | 6 | |||||||||||||||||||
Tier 1 leverage capital | |||||||||||||||||||||||||
Company | $ | 1,685,058 | 9.34 | $ | 541,066 | 3 | $ | n/a | n/a | ||||||||||||||||
Hancock Bank | 577,280 | 9.01 | 192,137 | 3 | 320,228 | 5 | |||||||||||||||||||
Whitney Bank | 1,088,339 | 9.02 | 361,878 | 3 | 603,129 | 5 | |||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||
Total capital (to risk weighted assets) | |||||||||||||||||||||||||
Company | $ | 1,881,558 | 14.28 | $ | 1,053,781 | 8 | $ | n/a | n/a | ||||||||||||||||
Hancock Bank | 643,202 | 14.39 | 357,687 | 8 | 447,109 | 10 | |||||||||||||||||||
Whitney Bank | 1,242,608 | 14.25 | 697,528 | 8 | 871,910 | 10 | |||||||||||||||||||
Tier 1 capital (to risk weighted assets) | |||||||||||||||||||||||||
Company | $ | 1,666,042 | 12.65 | $ | 526,890 | 4 | $ | n/a | n/a | ||||||||||||||||
Hancock Bank | 586,623 | 13.12 | 178,843 | 4 | 268,265 | 6 | |||||||||||||||||||
Whitney Bank | 1,122,341 | 12.87 | 348,764 | 4 | 523,146 | 6 | |||||||||||||||||||
Tier 1 leverage capital | |||||||||||||||||||||||||
Company | $ | 1,666,042 | 9.1 | $ | 549,185 | 3 | $ | n/a | n/a | ||||||||||||||||
Hancock Bank | 586,623 | 9.13 | 192,733 | 3 | 321,221 | 5 | |||||||||||||||||||
Whitney Bank | 1,122,341 | 9.24 | 364,540 | 3 | 607,567 | 5 |
Retirement_Benefit_Plans_Table
Retirement Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Pension Benefits [Member] | ' | ||||||||||||||||||||||||
Components of Defined Benefit Obligation | ' | ||||||||||||||||||||||||
The following tables detail the changes in the benefit obligations and plan assets of the combined qualified plans and for the nonqualified plan for the years ended December 31, 2013 and 2012 as well as the funded status of the plans at each year end and the amounts recognized in the Company’s balance sheets (in thousands). | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Qualified | Non- | Qualified | Non- | ||||||||||||||||||||||
qualified | qualified | ||||||||||||||||||||||||
Change in benefit obligation | |||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 420,239 | $ | 16,865 | $ | 399,508 | $ | 15,934 | |||||||||||||||||
Service cost | 16,118 | — | 12,940 | 49 | |||||||||||||||||||||
Interest cost | 16,057 | 621 | 16,518 | 688 | |||||||||||||||||||||
Actuarial loss | (40,551 | ) | (1,040 | ) | 4,131 | 1,401 | |||||||||||||||||||
Benefits paid | (14,578 | ) | (1,123 | ) | (12,858 | ) | (1,207 | ) | |||||||||||||||||
Benefit obligation, end of year | 397,285 | 15,323 | 420,239 | 16,865 | |||||||||||||||||||||
Change in plan assets | |||||||||||||||||||||||||
Fair value of plan assets at beginning of year | 379,133 | — | 328,060 | — | |||||||||||||||||||||
Actual return on plan assets | 63,695 | — | 38,464 | — | |||||||||||||||||||||
Employer contributions | 10,000 | 1,123 | 26,000 | 1,207 | |||||||||||||||||||||
Benefit payments | (14,578 | ) | (1,123 | ) | (12,858 | ) | (1,207 | ) | |||||||||||||||||
Expenses | (421 | ) | — | (533 | ) | — | |||||||||||||||||||
Fair value of plan assets, end of year | 437,829 | — | 379,133 | — | |||||||||||||||||||||
Funded status at end of year - net asset/(liability) | $ | 40,544 | $ | (15,323 | ) | $ | (41,106 | ) | $ | (16,865 | ) | ||||||||||||||
Amounts recognized in accumulated other comprehensive loss | |||||||||||||||||||||||||
Unrecognized loss at beginning of year: | $ | 108,852 | $ | 2,942 | $ | 123,780 | $ | 1,597 | |||||||||||||||||
Amount of (loss)/gain recognized during the year | (6,516 | ) | (54 | ) | (6,526 | ) | (56 | ) | |||||||||||||||||
Net actuarial (gain)/loss | (75,898 | ) | (1,041 | ) | (8,402 | ) | 1,401 | ||||||||||||||||||
Unrecognized loss at end of year | $ | 26,438 | $ | 1,847 | $ | 108,852 | $ | 2,942 | |||||||||||||||||
December 31 | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Projected benefit obligation | $ | 412,608 | $ | 437,104 | |||||||||||||||||||||
Accumulated benefit obligation | 379,607 | 395,543 | |||||||||||||||||||||||
Fair value of plan assets | 437,829 | 379,133 | |||||||||||||||||||||||
Components of Net Periodic Benefit Cost | ' | ||||||||||||||||||||||||
The following table shows net periodic benefit cost included in expense and the changes in the amounts recognized in accumulated other comprehensive income during 2013 and 2012 (in thousands). | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Qualified | Non- | Qualified | Non- | Qualified | Non- | ||||||||||||||||||||
qualified | qualified | qualified | |||||||||||||||||||||||
Net periodic benefit cost | |||||||||||||||||||||||||
Service cost | $ | 16,118 | $ | — | $ | 12,940 | $ | 49 | $ | 8,440 | $ | 27 | |||||||||||||
Interest cost | 16,057 | 621 | 16,518 | 688 | 12,117 | 438 | |||||||||||||||||||
Expected return on plan assets | (27,928 | ) | — | (25,398 | ) | — | (15,118 | ) | — | ||||||||||||||||
Recognized net amortization and deferral | 6,516 | 54 | 6,526 | 56 | 2,343 | — | |||||||||||||||||||
Net periodic benefit cost | 10,763 | 675 | 10,586 | 793 | 7,782 | 465 | |||||||||||||||||||
Other changes in plan assets and benefit obligations recognized in other comprehensive income, before taxes | |||||||||||||||||||||||||
Net (loss)/gain recognized during the year | (6,516 | ) | (54 | ) | (6,526 | ) | (56 | ) | (2,343 | ) | — | ||||||||||||||
Net actuarial loss/(gain) | (75,898 | ) | (1,041 | ) | (8,402 | ) | 1,401 | 87,313 | 1,597 | ||||||||||||||||
Total recognized in other comprehensive income | (82,414 | ) | (1,095 | ) | (14,928 | ) | 1,345 | 84,970 | 1,597 | ||||||||||||||||
Total recognized in net periodic benefit cost and other comprehensive income | $ | (71,651 | ) | $ | (420 | ) | $ | (4,342 | ) | $ | 2,138 | $ | 92,752 | $ | 2,062 | ||||||||||
Weighted average assumptions as of measurement date | |||||||||||||||||||||||||
Discount rate for benefit obligations: | 4.73 | % | 4.73 | % | 3.82 | % | 3.87 | % | 4.32 | % | 4.31 | % | |||||||||||||
Discount rate for net periodic benefit cost: | 3.87 | % | 3.87 | % | 4.32 | % | 4.31 | % | 5.39 | % | 5.35 | % | |||||||||||||
Expected long-term return on plan assets: | 7.5 | % | n/a | 7.5 | % | n/a | 7.5 | % | n/a | ||||||||||||||||
Rate of compensation increase: | 4 | % | 4 | % | 3.73 | % | 3.58 | % | 3.72 | % | 3.58 | % | |||||||||||||
Expected Future Pension Plan Benefit Payments | ' | ||||||||||||||||||||||||
The following shows expected pension plan benefit payments over the next ten years (in thousands): | |||||||||||||||||||||||||
Qualified | Nonqualified | Total | |||||||||||||||||||||||
2014 | $ | 16,065 | $ | 1,117 | $ | 17,182 | |||||||||||||||||||
2015 | 16,868 | 1,117 | 17,985 | ||||||||||||||||||||||
2016 | 17,656 | 1,128 | 18,784 | ||||||||||||||||||||||
2017 | 18,371 | 1,149 | 19,520 | ||||||||||||||||||||||
2018 | 19,076 | 1,144 | 20,220 | ||||||||||||||||||||||
2019-2023 | 105,048 | 5,586 | 110,634 | ||||||||||||||||||||||
$ | 193,084 | $ | 11,241 | $ | 204,325 | ||||||||||||||||||||
Fair Values Measurements of Pension Plan Assets | ' | ||||||||||||||||||||||||
The fair values of pension plan assets at December 31, 2013 and 2012, by asset category, are shown in the following tables (in thousands). | |||||||||||||||||||||||||
Asset Category / Fund | Total | Quoted Prices in | Significant | Significant | |||||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||||||
(Level 1) | |||||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 | |||||||||||||||||||||||||
Cash and cash-equivalents: | |||||||||||||||||||||||||
Cash and equivalents | $ | 5,683 | $ | 5,682 | $ | — | $ | 1 | |||||||||||||||||
Hancock Horizon Government Money Market Fund | 9,531 | 9,531 | — | — | |||||||||||||||||||||
Total cash and cash-equivalents | 15,214 | 15,213 | — | 1 | |||||||||||||||||||||
Fixed income: | |||||||||||||||||||||||||
US government and agency securities | 21,485 | 4,383 | 17,102 | — | |||||||||||||||||||||
Municipal securities | 40,476 | — | 40,476 | — | |||||||||||||||||||||
Hancock Horizon Strategic Income Bond Fund | 59,674 | 59,674 | — | — | |||||||||||||||||||||
Corporate debt | 43,440 | 6,923 | 36,517 | — | |||||||||||||||||||||
Total fixed income | 165,075 | 70,980 | 94,095 | — | |||||||||||||||||||||
Equity: | |||||||||||||||||||||||||
Hancock Horizon Quantitative Long/Short Fund | 6,593 | 6,593 | — | — | |||||||||||||||||||||
Hancock Horizon Diversified International Fund | 26,072 | 26,072 | — | — | |||||||||||||||||||||
Hancock Horizon Burkenroad Small Cap Fund | 4,108 | 4,108 | — | — | |||||||||||||||||||||
Hancock Horizon Growth Fund | 27,847 | 27,847 | — | — | |||||||||||||||||||||
Hancock Horizon Diversified Value Fund | 34,216 | 34,216 | — | — | |||||||||||||||||||||
Hancock Horizon Diversified Income Fund | 8,758 | 8,758 | — | — | |||||||||||||||||||||
Equity securities | 149,946 | 149,946 | — | — | |||||||||||||||||||||
Total Equity | 257,540 | 257,540 | — | — | |||||||||||||||||||||
TOTAL | $ | 437,829 | $ | 343,733 | $ | 94,095 | $ | 1 | |||||||||||||||||
Asset Category | Total | Quoted Prices in | Significant | Significant | |||||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||||||
(Level 1) | |||||||||||||||||||||||||
Fair Value Measurements at December 31, 2012 | |||||||||||||||||||||||||
Cash and cash-equivalents: | |||||||||||||||||||||||||
Cash and equivalents | $ | 4,850 | $ | 4,850 | $ | — | $ | — | |||||||||||||||||
Hancock Horizon Government Money Market Fund | 1,596 | 1,596 | — | — | |||||||||||||||||||||
Total cash and cash-equivalents | 6,446 | 6,446 | — | — | |||||||||||||||||||||
Fixed income: | |||||||||||||||||||||||||
US government and agency securities | 54,246 | 10,405 | 43,841 | — | |||||||||||||||||||||
Municipal securities | — | — | — | — | |||||||||||||||||||||
Hancock Horizon Strategic Income Bond Fund | 49,192 | 49,192 | — | — | |||||||||||||||||||||
Corporate debt | 39,273 | — | 39,273 | — | |||||||||||||||||||||
Total fixed income | 142,711 | 59,597 | 83,114 | — | |||||||||||||||||||||
Equity: | |||||||||||||||||||||||||
Hancock Horizon Quantitative Long/Short Fund | 7,481 | 7,481 | — | — | |||||||||||||||||||||
Hancock Horizon Diversified International Fund | 32,984 | 32,984 | — | — | |||||||||||||||||||||
Hancock Horizon Burkenroad Small Cap Fund | 3,863 | 3,863 | — | — | |||||||||||||||||||||
Hancock Horizon Growth Fund | 27,332 | 27,332 | — | — | |||||||||||||||||||||
Hancock Horizon Diversified Value Fund | 28,543 | 28,543 | — | — | |||||||||||||||||||||
Hancock Horizon Diversified Income Fund | — | — | — | — | |||||||||||||||||||||
Equity securities | 129,773 | 129,773 | — | — | |||||||||||||||||||||
Total Equity | 229,976 | 229,976 | — | — | |||||||||||||||||||||
TOTAL | $ | 379,133 | $ | 296,019 | $ | 83,114 | $ | — | |||||||||||||||||
Weighted Average Asset Allocations and Target Allocations | ' | ||||||||||||||||||||||||
The percentage allocations of the plan assets by asset category and corresponding target allocations at December 31, 2013 and 2012 follow: | |||||||||||||||||||||||||
Plan Assets | Target Allocation at | ||||||||||||||||||||||||
at December 31, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Asset category | |||||||||||||||||||||||||
Equity securities | 59 | % | 61 | % | 30 – 70 | % | 40 – 70 | % | |||||||||||||||||
Fixed income securities | 38 | % | 37 | % | 25 – 65 | % | 30 – 60 | % | |||||||||||||||||
Real Assets | 0 | % | 0 | % | 0 – 10 | % | — | ||||||||||||||||||
Cash equivalents | 3 | % | 2 | % | 0 – 5 | % | 0 – 10 | % | |||||||||||||||||
100 | % | 100 | % | ||||||||||||||||||||||
Other Post-retirement Benefits [Member] | ' | ||||||||||||||||||||||||
Components of Defined Benefit Obligation | ' | ||||||||||||||||||||||||
The following table details the changes in the benefit obligation of the postretirement plans for the years ended December 31, 2013 and 2012, as well as the funded status of the plans at each year end and the amounts recognized in the Company’s consolidated balance sheets (in thousands). | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Change in postretirement benefit obligation | |||||||||||||||||||||||||
Projected postretirement benefit at beginning of year | $ | 37,831 | $ | 34,107 | |||||||||||||||||||||
Service cost | 215 | 192 | |||||||||||||||||||||||
Interest cost | 1,317 | 1,337 | |||||||||||||||||||||||
Plan participants’ contributions | 1,355 | 1,419 | |||||||||||||||||||||||
Actuarial loss (gain) | (5,563 | ) | 4,435 | ||||||||||||||||||||||
Benefit payments | (3,563 | ) | (3,659 | ) | |||||||||||||||||||||
Projected postretirement benefit obligation, end of year | 31,592 | 37,831 | |||||||||||||||||||||||
Change in plan assets | |||||||||||||||||||||||||
Plan assets, beginning of year | — | — | |||||||||||||||||||||||
Employer contributions | 2,208 | 2,240 | |||||||||||||||||||||||
Plan participants’ contributions | 1,355 | 1,419 | |||||||||||||||||||||||
Benefit payments | (3,563 | ) | (3,659 | ) | |||||||||||||||||||||
Plan assets, end of year | — | — | |||||||||||||||||||||||
Funded status at end of year - net liability | $ | (31,592 | ) | $ | (37,831 | ) | |||||||||||||||||||
Amounts recognized in accumulated other comprehensive loss | |||||||||||||||||||||||||
Unrecognized loss at beginning of year | $ | 14,513 | $ | 10,996 | |||||||||||||||||||||
Amount of (loss)/gain recognized during the year | (1,761 | ) | (918 | ) | |||||||||||||||||||||
Net actuarial loss/(gain) | (5,563 | ) | 4,435 | ||||||||||||||||||||||
Unrecognized loss at end of year | $ | 7,189 | $ | 14,513 | |||||||||||||||||||||
Components of Net Periodic Benefit Cost | ' | ||||||||||||||||||||||||
The following table shows the composition of net periodic postretirement benefit cost (in thousands): | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Net periodic postretirement benefit cost | |||||||||||||||||||||||||
Service cost | $ | 215 | $ | 192 | $ | 137 | |||||||||||||||||||
Interest costs | 1,317 | 1,337 | 1,091 | ||||||||||||||||||||||
Amortization of net loss | 1,761 | 966 | 538 | ||||||||||||||||||||||
Amortization of prior service cost | — | (48 | ) | (48 | ) | ||||||||||||||||||||
Net periodic postretirement benefit cost | 3,293 | 2,447 | 1,718 | ||||||||||||||||||||||
Other changes in plan assets and benefit obligations recognized in other comprehensive income, before taxes | |||||||||||||||||||||||||
Amount of loss recognized during the year | (1,761 | ) | (966 | ) | (538 | ) | |||||||||||||||||||
Net actuarial (gain)/loss | (5,563 | ) | 4,435 | 5,938 | |||||||||||||||||||||
Amortization of prior service cost | — | 48 | 48 | ||||||||||||||||||||||
Total recognized in other comprehensive income | (7,324 | ) | 3,517 | 5,448 | |||||||||||||||||||||
Total recognized in net periodic benefit cost and other comprehensive income | $ | (4,031 | ) | $ | 5,964 | $ | 7,166 | ||||||||||||||||||
Expected Future Pension Plan Benefit Payments | ' | ||||||||||||||||||||||||
Expected benefits to be paid over the next ten years are reflected in the following table (in thousands): | |||||||||||||||||||||||||
2014 | $ | 2,091 | |||||||||||||||||||||||
2015 | 1,973 | ||||||||||||||||||||||||
2016 | 1,918 | ||||||||||||||||||||||||
2017 | 1,785 | ||||||||||||||||||||||||
2018 | 1,720 | ||||||||||||||||||||||||
2019-2023 | 8,680 | ||||||||||||||||||||||||
$ | 18,167 | ||||||||||||||||||||||||
Assumed Health Care Cost Trend Rates | ' | ||||||||||||||||||||||||
The following table illustrates the effect on the annual periodic postretirement benefit costs and postretirement benefit obligation of a 1% increase or 1% decrease in the assumed health care cost trend rates from the rates assumed at December 31, 2013: | |||||||||||||||||||||||||
1% Decrease | Assumed | 1% Increase | |||||||||||||||||||||||
in Rates | Rates | in Rates | |||||||||||||||||||||||
Aggregated service and interest cost | $ | 1,325 | $ | 1,531 | $ | 1,785 | |||||||||||||||||||
Postretirement benefit obligation | 28,112 | 31,592 | 35,791 |
ShareBased_Payment_Arrangement1
Share-Based Payment Arrangements (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Schedule of Option Activity Under Stock Option Plans | ' | ||||||||||||||||
A summary of option activity for 2013 is presented below: | |||||||||||||||||
Options | Number of | Weighted- | Weighted- | Aggregate | |||||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price ($) | Contractual | $0 | |||||||||||||||
Term | |||||||||||||||||
(Years) | |||||||||||||||||
Outstanding at January 1, 2013 | 1,555,296 | $ | 38.57 | ||||||||||||||
Granted | — | ||||||||||||||||
Exercised | (96,428 | ) | 28.35 | ||||||||||||||
Forfeited or expired | (126,212 | ) | 43.48 | ||||||||||||||
Outstanding at December 31, 2013 | 1,332,656 | $ | 38.85 | 4.7 | $ | 3,840 | |||||||||||
Exercisable at December 31, 2013 | 1,017,709 | $ | 41.28 | 3.8 | $ | 2,005 | |||||||||||
Stock Options, Valuation Assumption | ' | ||||||||||||||||
The significant assumptions made in applying the option-pricing model are noted in the following table. Expected volatilities are based on implied volatilities from traded options on the Company’s stock, historical volatility of the Company’s stock and other factors. The expected term of options granted was derived from the output of the option valuation model and represents the period of time that options granted are expected to be outstanding. | |||||||||||||||||
2012 | 2011 | ||||||||||||||||
Expected volatility | 38.64 | % | 38.9 | % | |||||||||||||
Expected dividends | 3.23 | % | 3.2 | % | |||||||||||||
Expected term (in years) | 6.58 | 6.38 | |||||||||||||||
Risk-free rates | 1.78 | % | 1.99 | % | |||||||||||||
Schedule of Nonvested Restricted and Performance Shares | ' | ||||||||||||||||
A summary of the status of the Company’s nonvested restricted and performance shares as of December 31, 2013 and changes during 2013 are presented below: | |||||||||||||||||
Number of | Weighted- | ||||||||||||||||
Shares | Average | ||||||||||||||||
Grant-Date | |||||||||||||||||
Fair Value ($) | |||||||||||||||||
Nonvested at January 1, 2013 | 1,683,146 | $ | 31.56 | ||||||||||||||
Granted | 558,738 | 33.15 | |||||||||||||||
Vested | (95,247 | ) | 37.66 | ||||||||||||||
Cancelled/Forfeited | (164,817 | ) | 31.14 | ||||||||||||||
Nonvested at December 31, 2013 | 1,981,820 | $ | 31.75 | ||||||||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||||||
The following table presents for each of the fair-value hierarchy levels the Company’s financial assets and liabilities that are measured at fair value (in thousands) on a recurring basis in the consolidated balance sheets. | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Level 1 | Level 2 | Total | |||||||||||||||||||
Assets | |||||||||||||||||||||
Available for sale debt securities: | |||||||||||||||||||||
U.S. Treasury and government agency securities | $ | 505 | $ | — | $ | 505 | |||||||||||||||
Municipal obligations | — | 35,961 | 35,961 | ||||||||||||||||||
Corporate debt securities | 3,500 | — | 3,500 | ||||||||||||||||||
Mortgage-backed securities | — | 1,276,958 | 1,276,958 | ||||||||||||||||||
Collateralized mortgage obligations | — | 94,125 | 94,125 | ||||||||||||||||||
Equity securities | 10,723 | — | 10,723 | ||||||||||||||||||
Total available-for-sale securities | 14,728 | 1,407,044 | 1,421,772 | ||||||||||||||||||
Derivative assets (1) | — | 15,579 | 15,579 | ||||||||||||||||||
Total recurring fair value measurements - assets | $ | 14,728 | $ | 1,422,623 | $ | 1,437,351 | |||||||||||||||
Liabilities | |||||||||||||||||||||
Derivative liabilities (1) | $ | — | $ | 15,006 | $ | 15,006 | |||||||||||||||
Total recurring fair value measurements - liabilities | $ | — | $ | 15,006 | $ | 15,006 | |||||||||||||||
-1 | For further disaggregation of derivative assets and liabilities, see Note 6 - Derivatives | ||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||
Level 1 | Level 2 | Total | |||||||||||||||||||
Assets | |||||||||||||||||||||
Available for sale debt securities: | |||||||||||||||||||||
U.S. Treasury and government agency securities | $ | 18,265 | $ | — | $ | 18,265 | |||||||||||||||
Municipal obligations | — | 50,165 | 50,165 | ||||||||||||||||||
Corporate debt securities | 2,250 | — | 2,250 | ||||||||||||||||||
Mortgage-backed securities | — | 1,774,406 | 1,774,406 | ||||||||||||||||||
Collateralized mortgage obligations | — | 198,077 | 198,077 | ||||||||||||||||||
Equity securities | 5,279 | — | 5,279 | ||||||||||||||||||
Total available-for-sale securities | 25,794 | 2,022,648 | 2,048,442 | ||||||||||||||||||
Derivative assets (1) | — | 20,093 | 20,093 | ||||||||||||||||||
Total recurring fair value measurements - assets | $ | 25,794 | $ | 2,042,741 | $ | 2,068,535 | |||||||||||||||
Liabilities | |||||||||||||||||||||
Derivative liabilities (1) | $ | — | $ | 21,100 | $ | 21,100 | |||||||||||||||
Total recurring fair value measurements - liabilities | $ | — | $ | 21,100 | $ | 21,100 | |||||||||||||||
-1 | For further disaggregation of derivative assets and liabilities, see Note 6 - Derivatives | ||||||||||||||||||||
Schedule of Financial Assets Measured at Fair Value on Nonrecurring Basis | ' | ||||||||||||||||||||
The following table presents for each of the fair value hierarchy levels the Company’s financial assets that are measured at fair value (in thousands) on a nonrecurring basis. | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
Collateral dependent impaired loans | $ | — | $ | 24,392 | $ | — | $ | 24,392 | |||||||||||||
Other real estate owned | — | — | 25,525 | 25,525 | |||||||||||||||||
Total nonrecurring fair value measurements | $ | — | $ | 24,392 | $ | 25,525 | $ | 49,917 | |||||||||||||
31-Dec-12 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
Collateral dependent impaired loans | $ | — | $ | 72,694 | $ | — | $ | 72,694 | |||||||||||||
Other real estate owned | — | — | 43,803 | 43,803 | |||||||||||||||||
Total nonrecurring fair value measurements | $ | — | $ | 72,694 | $ | 43,803 | $ | 116,497 | |||||||||||||
Schedule of Estimated Fair Values of Financial Instruments | ' | ||||||||||||||||||||
The estimated fair values of the Company’s financial instruments were as follows (in thousands): | |||||||||||||||||||||
December 31, 2013 | Total | Carrying | |||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | Amount | |||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash, interest-bearing bank deposits, and federal funds sold | $ | 617,280 | $ | — | $ | — | $ | 617,280 | $ | 617,280 | |||||||||||
Available for sale securities | 14,728 | 1,407,044 | — | 1,421,772 | 1,421,772 | ||||||||||||||||
Held to maturity securities | 100,316 | 2,476,268 | — | 2,576,584 | 2,611,352 | ||||||||||||||||
Loans, net | — | 24,392 | 12,023,330 | 12,047,722 | 12,191,191 | ||||||||||||||||
Loans held for sale | — | 24,515 | — | 24,515 | 24,515 | ||||||||||||||||
Accrued interest receivable | 42,977 | — | — | 42,977 | 42,977 | ||||||||||||||||
Derivative financial instruments | — | 15,579 | — | 15,579 | 15,579 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | — | $ | — | $ | 15,352,024 | $ | 15,352,024 | $ | 15,360,516 | |||||||||||
Federal funds purchased | 7,725 | — | — | 7,725 | 7,725 | ||||||||||||||||
Securities sold under agreements to repurchase | 650,235 | — | — | 650,235 | 650,235 | ||||||||||||||||
Long-term debt | — | 385,557 | — | 385,557 | 385,826 | ||||||||||||||||
Accrued interest payable | 4,353 | — | — | 4,353 | 4,353 | ||||||||||||||||
Derivative financial instruments | — | 15,006 | — | 15,006 | 15,006 | ||||||||||||||||
December 31, 2012 | Total | Carrying | |||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | Amount | |||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash, interest-bearing bank deposits, and federal funds sold | $ | 1,948,679 | $ | — | $ | — | $ | 1,948,679 | $ | 1,948,679 | |||||||||||
Available for sale securities | 25,794 | 2,022,648 | — | 2,048,442 | 2,048,442 | ||||||||||||||||
Held to maturity securities | — | 1,710,465 | — | 1,710,465 | 1,668,018 | ||||||||||||||||
Loans, net | — | 72,694 | 11,494,409 | 11,567,103 | 11,441,631 | ||||||||||||||||
Loans held for sale | — | 50,605 | — | 50,605 | 50,605 | ||||||||||||||||
Accrued interest receivable | 45,616 | — | — | 45,616 | 45,616 | ||||||||||||||||
Derivative financial instruments | — | 20,093 | — | 20,093 | 20,093 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | — | — | 15,757,044 | 15,757,044 | 15,744,188 | ||||||||||||||||
Federal funds purchased | 25,704 | — | — | 25,704 | 25,704 | ||||||||||||||||
Securities sold under agreements to repurchase | 613,429 | — | — | 613,429 | 613,429 | ||||||||||||||||
Long-term debt | — | 410,791 | — | 410,791 | 396,589 | ||||||||||||||||
Accrued interest payable | 4,814 | — | — | 4,814 | 4,814 | ||||||||||||||||
Derivative financial instruments | — | 21,100 | — | 21,100 | 21,100 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Summary of Obligations | ' | ||||||||
These off-balance sheet financial instruments are summarized below (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Commitments to extend credit | $ | 5,234,929 | $ | 4,373,679 | |||||
Letters of credit | 422,284 | 401,861 | |||||||
Future Minimum Lease Payments for All Non-Cancelable Capital and Operating Leases | ' | ||||||||
Future minimum lease payments for non-cancelable operating leases with initial terms in excess of one year were as follows at December 31, 2013 (in thousands): | |||||||||
Operating | |||||||||
Leases | |||||||||
2014 | $ | 10,378 | |||||||
2015 | 8,926 | ||||||||
2016 | 7,950 | ||||||||
2017 | 7,129 | ||||||||
2018 | 5,417 | ||||||||
Thereafter | 18,984 | ||||||||
Total minimum lease payments | $ | 58,784 | |||||||
Other_Noninterest_Income_and_O1
Other Noninterest Income and Other Noninterest Expense (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||
Components of Other Noninterest Income and Other Noninterest Expense | ' | ||||||||||||
The components of other noninterest income and other noninterest expense are as follows (in thousands): | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Other noninterest income: | |||||||||||||
Income from bank-owned life insurance | $ | 11,223 | $ | 11,163 | $ | 9,311 | |||||||
Credit-related fees | 8,724 | 6,681 | 5,752 | ||||||||||
Income from derivatives | 4,675 | 3,600 | 760 | ||||||||||
Gain on sales of assets | 1,932 | 4,366 | 1,083 | ||||||||||
Safety deposit box income | 1,923 | 2,006 | 1,591 | ||||||||||
(Amortization) accretion of FDIC loss share receivable | (2,239 | ) | 5,000 | 16,689 | |||||||||
Other miscellaneous income | 8,753 | 9,072 | 7,081 | ||||||||||
Total other noninterest income | $ | 34,991 | $ | 41,888 | $ | 42,267 | |||||||
Other noninterest expense: | |||||||||||||
Advertising | $ | 10,399 | $ | 13,515 | $ | 17,687 | |||||||
Ad valorem and franchise taxes | 9,727 | 8,321 | 5,330 | ||||||||||
Printing and supplies | 5,112 | 7,491 | 5,608 | ||||||||||
Insurance expense | 4,094 | 5,494 | 7,490 | ||||||||||
Travel | 4,716 | 5,758 | 3,590 | ||||||||||
Entertainment and contributions | 5,265 | 6,049 | 3,954 | ||||||||||
Tax credit investment amortization | 10,781 | 5,974 | 3,515 | ||||||||||
Other miscellaneous expense | 45,242 | 27,669 | 31,539 | ||||||||||
Total other noninterest expense | $ | 95,336 | $ | 80,271 | $ | 78,713 | |||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Components of Income Tax Expense | ' | ||||||||||||||||||||||||
Income tax expense included in net income consisted of the following components (in thousands): | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Included in net income | |||||||||||||||||||||||||
Current federal | $ | 14,797 | $ | 11,195 | $ | 7,400 | |||||||||||||||||||
Current state | (3,207 | ) | 1,953 | 1,961 | |||||||||||||||||||||
Total current provision | 11,590 | 13,148 | 9,361 | ||||||||||||||||||||||
Deferred federal | 37,403 | 34,219 | 9,735 | ||||||||||||||||||||||
Deferred state | 3,517 | (1,754 | ) | (1,032 | ) | ||||||||||||||||||||
Total deferred provision | 40,920 | 32,465 | 8,703 | ||||||||||||||||||||||
Total included in net income | $ | 52,510 | $ | 45,613 | $ | 18,064 | |||||||||||||||||||
Included in shareholder’s equity | |||||||||||||||||||||||||
Deferred tax related to retirement benefits | $ | 32,749 | $ | 3,788 | $ | (32,944 | ) | ||||||||||||||||||
Deferred tax related to securities | (40,876 | ) | (1,583 | ) | 19,145 | ||||||||||||||||||||
Deferred tax related to derivatives and hedging | 116 | (75 | ) | (42 | ) | ||||||||||||||||||||
Total included in shareholder’s equity | $ | (8,011 | ) | $ | 2,130 | $ | (13,841 | ) | |||||||||||||||||
Components of the Company's Deferred Tax Assets and Liabilities | ' | ||||||||||||||||||||||||
Significant components of the Company’s deferred tax assets and liabilities were as follows (in thousands): | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||
Allowance for loan losses | $ | 64,389 | $ | 77,957 | |||||||||||||||||||||
Employee compensation and benefits | 31,293 | 64,030 | |||||||||||||||||||||||
Loan purchase accounting adjustments | 75,595 | 185,789 | |||||||||||||||||||||||
Tax credit carryforward | 41,083 | 35,605 | |||||||||||||||||||||||
Securities | 6,432 | — | |||||||||||||||||||||||
State net operating loss | 1,535 | 1,805 | |||||||||||||||||||||||
Other | 21,611 | 18,102 | |||||||||||||||||||||||
Gross deferred tax assets | 241,938 | 383,288 | |||||||||||||||||||||||
Federal valuation allowance | — | — | |||||||||||||||||||||||
State valuation allowance | (1,531 | ) | (1,805 | ) | |||||||||||||||||||||
Subtotal valuation allowance | (1,531 | ) | (1,805 | ) | |||||||||||||||||||||
Net deferred tax assets | 240,407 | 381,483 | |||||||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||||||
Fixed assets & intangibles | (93,952 | ) | (124,402 | ) | |||||||||||||||||||||
Securities | — | (46,088 | ) | ||||||||||||||||||||||
Deferred gain on acquisition | (4,407 | ) | (8,962 | ) | |||||||||||||||||||||
FDIC indemnification asset | (37,775 | ) | (62,311 | ) | |||||||||||||||||||||
Other | (14,565 | ) | (11,335 | ) | |||||||||||||||||||||
Gross deferred tax liabilities | (150,699 | ) | (253,098 | ) | |||||||||||||||||||||
Net deferred tax asset (liability) | $ | 89,708 | $ | 128,385 | |||||||||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation | ' | ||||||||||||||||||||||||
Reported income tax expense differed from amounts computed by applying the statutory income tax rate of 35% to earnings before income taxes because of the following factors (in thousands): | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Amount | % | Amount | % | Amount | % | ||||||||||||||||||||
Taxes computed at statutory rate | $ | 75,553 | 35 | % | $ | 69,074 | 35 | % | $ | 33,188 | 35 | % | |||||||||||||
Increases (decreases) in taxes resulting from: | |||||||||||||||||||||||||
State income taxes, net of federal income tax benefit | 2,352 | 1 | % | (78 | ) | 0 | % | 689 | 1 | % | |||||||||||||||
Tax-exempt interest | (6,487 | ) | -3 | % | (7,127 | ) | -4 | % | (6,892 | ) | -8 | % | |||||||||||||
Bank owned life insurance | (3,926 | ) | -2 | % | (4,005 | ) | -2 | % | (3,352 | ) | -4 | % | |||||||||||||
Tax credits | (17,454 | ) | -8 | % | (13,661 | ) | -7 | % | (8,384 | ) | -9 | % | |||||||||||||
Merger transaction costs | — | 0 | % | — | 0 | % | 2,178 | 3 | % | ||||||||||||||||
Other, net | 2,472 | 1 | % | 1,410 | 1 | % | 637 | 1 | % | ||||||||||||||||
Income tax expense | $ | 52,510 | 24 | % | $ | 45,613 | 23 | % | $ | 18,064 | 19 | % | |||||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Computation of Earnings Per Common Share | ' | ||||||||||||
A summary of the information used in the computation of earnings per common share follows (in thousands, except per share data): | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator: | |||||||||||||
Net income to common shareholders | $ | 163,356 | $ | 151,742 | $ | 76,759 | |||||||
Net income allocated to participating securities - basic and diluted | 3,105 | 1,557 | 866 | ||||||||||
Net income allocated to common shareholders - basic and diluted | $ | 160,251 | $ | 150,185 | $ | 75,893 | |||||||
Denominator: | |||||||||||||
Weighted-average common shares - basic | 83,066 | 84,767 | 65,590 | ||||||||||
Dilutive potential common shares | 101 | 821 | 480 | ||||||||||
Weighted average common shares - diluted | 83,167 | 85,588 | 66,070 | ||||||||||
Earnings per common share: | |||||||||||||
Basic | $ | 1.93 | $ | 1.77 | $ | 1.16 | |||||||
Diluted | $ | 1.93 | $ | 1.75 | $ | 1.15 | |||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Schedule of Segment Reporting Information | ' | ||||||||||||||||||||
Following is selected information for the Company’s segments (in thousands): | |||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Hancock | Whitney | Other | Eliminations | Consolidated | |||||||||||||||||
Interest income | $ | 265,160 | $ | 437,298 | $ | 24,355 | $ | (4,603 | ) | $ | 722,210 | ||||||||||
Interest expense | (18,575 | ) | (17,253 | ) | (9,794 | ) | 4,143 | (41,479 | ) | ||||||||||||
Net interest income | 246,585 | 420,045 | 14,561 | (460 | ) | 680,731 | |||||||||||||||
Provision for loan losses | (23,173 | ) | (4,746 | ) | (4,815 | ) | — | (32,734 | ) | ||||||||||||
Noninterest income | 72,180 | 134,507 | 39,351 | — | 246,038 | ||||||||||||||||
Depreciation and amortization | (15,501 | ) | (15,352 | ) | (1,210 | ) | — | (32,063 | ) | ||||||||||||
Other noninterest expense | (227,574 | ) | (377,684 | ) | (40,953 | ) | — | (646,211 | ) | ||||||||||||
Securities transactions | — | — | 105 | — | 105 | ||||||||||||||||
Income before income taxes | 52,517 | 156,770 | 7,039 | (460 | ) | 215,866 | |||||||||||||||
Income tax expense | 10,490 | 41,060 | 960 | — | 52,510 | ||||||||||||||||
Net income | $ | 42,027 | $ | 115,710 | $ | 6,079 | $ | (460 | ) | $ | 163,356 | ||||||||||
Goodwill | $ | 94,130 | $ | 527,063 | $ | 4,482 | $ | — | $ | 625,675 | |||||||||||
Total assets | $ | 6,573,428 | $ | 12,908,891 | $ | 2,933,388 | $ | (3,406,456 | ) | $ | 19,009,251 | ||||||||||
Total interest income from affiliates | $ | 3,488 | $ | 1,115 | $ | — | $ | (4,603 | ) | $ | — | ||||||||||
Total interest income from external customers | $ | 261,672 | $ | 436,183 | $ | 24,355 | $ | — | $ | 722,210 | |||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||
Hancock | Whitney | Other | Eliminations | Consolidated | |||||||||||||||||
Interest income | $ | 269,915 | $ | 473,664 | $ | 23,996 | $ | (5,026 | ) | $ | 762,549 | ||||||||||
Interest expense | (22,553 | ) | (25,178 | ) | (8,516 | ) | 4,565 | (51,682 | ) | ||||||||||||
Net interest income | 247,362 | 448,486 | 15,480 | (461 | ) | 710,867 | |||||||||||||||
Provision for loan losses | (21,304 | ) | (32,834 | ) | (54 | ) | — | (54,192 | ) | ||||||||||||
Noninterest income | 78,785 | 133,228 | 40,219 | (37 | ) | 252,195 | |||||||||||||||
Depreciation and amortization | (14,309 | ) | (17,515 | ) | (1,032 | ) | — | (32,856 | ) | ||||||||||||
Other noninterest expense | (230,208 | ) | (403,935 | ) | (46,105 | ) | 37 | (680,211 | ) | ||||||||||||
Securities transactions | 579 | 966 | 7 | — | 1,552 | ||||||||||||||||
Income before income taxes | 60,905 | 128,396 | 8,515 | (461 | ) | 197,355 | |||||||||||||||
Income tax expense | 11,878 | 30,998 | 2,737 | — | 45,613 | ||||||||||||||||
Net income | $ | 49,027 | $ | 97,398 | $ | 5,778 | $ | (461 | ) | $ | 151,742 | ||||||||||
Goodwill | $ | 94,130 | $ | 530,265 | $ | 4,482 | $ | — | $ | 628,877 | |||||||||||
Total assets | $ | 6,308,690 | $ | 13,127,109 | $ | 2,865,346 | $ | (2,836,660 | ) | $ | 19,464,485 | ||||||||||
Total interest income from affiliates | $ | 4,042 | $ | 984 | $ | — | $ | (5,026 | ) | $ | — | ||||||||||
Total interest income from external customers | $ | 265,873 | $ | 472,680 | $ | 23,996 | $ | — | $ | 762,549 | |||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||
Hancock | Whitney | Other | Eliminations | Consolidated | |||||||||||||||||
Interest income | $ | 195,230 | $ | 380,072 | $ | 21,794 | $ | (4,892 | ) | $ | 592,204 | ||||||||||
Interest expense | (39,056 | ) | (29,538 | ) | (6,807 | ) | 4,430 | (70,971 | ) | ||||||||||||
Net interest income | 156,174 | 350,534 | 14,987 | (462 | ) | 521,233 | |||||||||||||||
Provision for loan losses | (17,216 | ) | (17,550 | ) | (3,966 | ) | — | (38,732 | ) | ||||||||||||
Noninterest income | 76,846 | 96,349 | 32,761 | 471 | 206,427 | ||||||||||||||||
Depreciation and amortization | (10,649 | ) | (13,123 | ) | (834 | ) | — | (24,606 | ) | ||||||||||||
Other noninterest expense | (163,088 | ) | (372,034 | ) | (34,894 | ) | 608 | (569,408 | ) | ||||||||||||
Securities Transactions | (51 | ) | — | (40 | ) | — | (91 | ) | |||||||||||||
Income before income taxes | 42,016 | 44,176 | 8,014 | 617 | 94,823 | ||||||||||||||||
Income tax expense (benefit) | 6,513 | 7,584 | 3,967 | — | 18,064 | ||||||||||||||||
Net income | $ | 35,503 | $ | 36,592 | $ | 4,047 | $ | 617 | $ | 76,759 | |||||||||||
Goodwill | $ | 23,386 | $ | 623,294 | $ | 4,482 | $ | — | $ | 651,162 | |||||||||||
Total assets | $ | 4,934,003 | $ | 14,792,788 | $ | 2,462,281 | $ | (2,414,976 | ) | $ | 19,774,096 | ||||||||||
Total interest income from affiliates | $ | 4,364 | $ | 528 | $ | — | $ | (4,892 | ) | $ | — | ||||||||||
Total interest income from external customers | $ | 190,866 | $ | 379,544 | $ | 21,794 | $ | — | $ | 592,204 |
Condensed_Parent_Company_Infor1
Condensed Parent Company Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Condensed Balance Sheets | ' | ||||||||||||
Condensed Balance Sheets | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Assets: | |||||||||||||
Cash | $ | 66,338 | $ | 26,041 | |||||||||
Securities available for sale | 107,017 | 132,551 | |||||||||||
Investment in bank subsidiaries | 2,409,319 | 2,495,412 | |||||||||||
Investment in non-bank subsidiaries | 5,319 | 8,071 | |||||||||||
Due from subsidiaries and other assets | 23,161 | 13,447 | |||||||||||
$ | 2,611,154 | $ | 2,675,522 | ||||||||||
Liabilities and Stockholders’ Equity: | |||||||||||||
Long term debt | $ | 184,800 | $ | 220,000 | |||||||||
Due to subsidiaries and other liabilities | 1,285 | 2,244 | |||||||||||
Stockholders’ equity | 2,425,069 | 2,453,278 | |||||||||||
$ | 2,611,154 | $ | 2,675,522 | ||||||||||
Condensed Statements of Income | ' | ||||||||||||
Condensed Statements of Income | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Operating Income | |||||||||||||
From subsidiaries | |||||||||||||
Cash dividends received from bank subsidiaries | $ | 249,000 | $ | 25,000 | $ | 123,100 | |||||||
Non-cash dividend from bank subsidiary in restructuring | — | 225,000 | 13,451 | ||||||||||
Dividends received from non-bank subsidiaries | 2,990 | 150 | — | ||||||||||
Equity in earnings of subsidiaries greater than (less than) dividends received | (82,203 | ) | (94,486 | ) | (57,172 | ) | |||||||
Total operating income | 169,787 | 155,664 | 79,379 | ||||||||||
Other (expense) income | (10,335 | ) | (6,673 | ) | (2,592 | ) | |||||||
Income tax expense (benefit) | (3,904 | ) | (2,751 | ) | 28 | ||||||||
Net income | $ | 163,356 | $ | 151,742 | $ | 76,759 | |||||||
Condensed Statements of Cash Flows | ' | ||||||||||||
Condensed Statements of Cash Flows | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cash flows from operating activities - principally dividends received from subsidiaries | $ | 257,251 | $ | 18,789 | $ | 113,355 | |||||||
Net cash provided by operating activities | 257,251 | 18,789 | 113,355 | ||||||||||
Cash flows from investing activities | |||||||||||||
Contribution of capital to subsidiary | (870 | ) | (955 | ) | (233 | ) | |||||||
Loans to nonbank subsidiaries, net of repayments | — | 1,684 | — | ||||||||||
Purchase of available for sale securities | — | (77,058 | ) | (103,432 | ) | ||||||||
Proceeds of securities available for sale | 18,685 | 47,305 | 1,396 | ||||||||||
Cash paid in connection with business combination | — | — | (275,563 | ) | |||||||||
Other, net | (5,630 | ) | — | — | |||||||||
Net cash used by investing activities | 12,185 | (29,024 | ) | (377,832 | ) | ||||||||
Cash flows from financing activities: | |||||||||||||
Proceeds from issuance of long term debt | — | 217,933 | 140,000 | ||||||||||
Repayment of long term debt | (35,200 | ) | (140,000 | ) | — | ||||||||
Dividends paid to stockholders | (81,673 | ) | (83,151 | ) | (70,617 | ) | |||||||
Stock transactions, net | (112,266 | ) | 13,479 | 222,322 | |||||||||
Net cash provided by (used by) financing activities | (229,139 | ) | 8,261 | 291,705 | |||||||||
Net increase (decrease) in cash | 40,297 | (1,974 | ) | 27,228 | |||||||||
Cash, beginning of year | 26,041 | 28,015 | 787 | ||||||||||
Cash, end of year | $ | 66,338 | $ | 26,041 | $ | 28,015 | |||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies and Recent Accounting Pronouncements - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Subsidiary | |
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items] | ' |
Number of wholly-owned bank subsidiaries | 2 |
Maximum refinement period of fair values after closing date of an acquisition | '1 year |
Specific reserve balances to include all commercial, commercial real estate and substandard mortgage loans | '1 million or greater |
Commercial Loans [Member] | ' |
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items] | ' |
Loss emergence period | '18 months |
Retail Loans [Member] | ' |
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items] | ' |
Loss emergence period | '12 months |
Building [Member] | Maximum [Member] | ' |
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items] | ' |
Estimated useful lives of the assets | '39 years |
Furniture, fixtures and equipment [Member] | Maximum [Member] | ' |
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items] | ' |
Estimated useful lives of the assets | '7 years |
Furniture, fixtures and equipment [Member] | Minimum [Member] | ' |
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items] | ' |
Estimated useful lives of the assets | '3 years |
Software [Member] | ' |
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items] | ' |
Amortization expense charged off period | '3 years |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | |||
Jun. 04, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 16, 2011 | |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Deposits | ' | $15,360,516,000 | $15,744,188,000 | ' | ' |
Goodwill reduced for deferred tax purchase accounting adjustments | ' | 3,202,000 | 22,285,000 | ' | ' |
Contingent liabilities payments to employees, fair value | ' | 58,000,000 | ' | ' | ' |
Contractual contingency assumed liabilities for systems conversion and replacement initiative, fair value | ' | ' | 14,000,000 | ' | ' |
Payment against liability | ' | ' | 2,600,000 | 1,100,000 | ' |
Whitney [Member] | ' | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Business acquisition, number of shares issued | ' | ' | ' | 40,794,261 | ' |
TARP stock redeemed | 307,700,000 | ' | ' | ' | ' |
Business acquisition, total purchase price | 1,600,000,000 | ' | ' | ' | ' |
Loans | ' | ' | ' | ' | 47,000,000 |
Deposits | ' | ' | ' | ' | 180,000,000 |
Fair value refinement period, maximum years | ' | ' | ' | '1 year | ' |
Business combinations, net assets acquired | ' | ' | ' | 11,200,000,000 | ' |
Business combination, Loans and leases assumed | ' | ' | ' | 6,500,000,000 | ' |
Business combination, investment securities acquired | ' | ' | ' | 2,600,000,000 | ' |
Business combination, identifiable intangible assets | 224,000,000 | ' | ' | ' | ' |
Business combination, deposits assumed | 9,200,000,000 | ' | ' | ' | ' |
Total liabilities assumed | 10,100,000,000 | ' | ' | ' | ' |
Goodwill from Whitney acquisition at acquisition date | ' | ' | ' | 589,500,000 | ' |
Goodwill reduced for deferred tax purchase accounting adjustments | ' | 3,200,000 | 22,300,000 | ' | ' |
Whitney [Member] | Mississippi Gulf Coast [Member] | ' | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Number of bank branches divested | ' | ' | ' | 7 | ' |
Whitney [Member] | Bogalusa, LA [Member] | ' | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Number of bank branches divested | ' | ' | ' | 1 | ' |
Whitney [Member] | Common Stock [Member] | ' | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Shares in Hancock for each share of Whitney | ' | ' | ' | 0.418 | ' |
Business acquisition, fair value of shares issued | $1,300,000,000 | ' | ' | ' | ' |
Acquisitions_Reconciliation_of
Acquisitions - Reconciliation of Goodwill and Other Indefinite Lived Intangibles (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Business Combinations [Abstract] | ' | ' | ' |
Goodwill beginning balance | $628,877 | $651,162 | $61,631 |
Deferred tax purchase accounting adjustment made during the period | -3,202 | -22,285 | ' |
Goodwill from Whitney acquisition at acquisition date | ' | ' | 513,917 |
Purchase accounting fair value adjustments subsequent to acquisition date made during the fourth quarter of 2011 | ' | ' | 75,614 |
Goodwill ending balance | $625,675 | $628,877 | $651,162 |
Acquisitions_Change_in_Liabili
Acquisitions - Change in Liability (Detail) (Whitney [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Whitney [Member] | ' | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' | ' |
Balance | $8,165 | $23,183 | ' |
Adjustments | 2,765 | 1,127 | 57,964 |
Cash Payments | -2,269 | -16,145 | -34,781 |
Balance | $8,661 | $8,165 | $23,183 |
Securities_Amortized_Cost_and_
Securities - Amortized Cost and Fair Value of Available for Sale Securities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, amortized cost | $1,408,780 | $1,986,882 |
Securities available for sale, Gross Unrealized Gains | 25,366 | 61,599 |
Securities available for sale, Gross Unrealized Losses | 12,374 | 39 |
Securities Available for Sale, Fair Value | 1,421,772 | 2,048,442 |
U.S. Treasury and government agency securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, amortized cost | 504 | 18,246 |
Securities available for sale, Gross Unrealized Gains | 2 | 19 |
Securities available for sale, Gross Unrealized Losses | 1 | ' |
Securities Available for Sale, Fair Value | 505 | 18,265 |
Municipal obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, amortized cost | 35,809 | 49,608 |
Securities available for sale, Gross Unrealized Gains | 177 | 571 |
Securities available for sale, Gross Unrealized Losses | 25 | 14 |
Securities Available for Sale, Fair Value | 35,961 | 50,165 |
Mortgage-backed securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, amortized cost | 1,262,633 | 1,715,524 |
Securities available for sale, Gross Unrealized Gains | 24,402 | 58,903 |
Securities available for sale, Gross Unrealized Losses | 10,077 | 21 |
Securities Available for Sale, Fair Value | 1,276,958 | 1,774,406 |
Collateralized mortgage obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, amortized cost | 96,369 | 196,723 |
Securities available for sale, Gross Unrealized Gains | ' | 1,354 |
Securities available for sale, Gross Unrealized Losses | 2,244 | ' |
Securities Available for Sale, Fair Value | 94,125 | 198,077 |
Corporate debt securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, amortized cost | 3,500 | 2,250 |
Securities Available for Sale, Fair Value | 3,500 | 2,250 |
Other equity securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, amortized cost | 9,965 | 4,531 |
Securities available for sale, Gross Unrealized Gains | 785 | 752 |
Securities available for sale, Gross Unrealized Losses | 27 | 4 |
Securities Available for Sale, Fair Value | $10,723 | $5,279 |
Securities_Amortized_Cost_and_1
Securities - Amortized Cost and Fair Value of Held to Maturity Securities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Securities Held to Maturity, Amortized Cost | $2,611,352 | $1,668,018 |
Securities Held to Maturity, Gross Unrealized Gains | 2,593 | 43,388 |
Securities Held to Maturity, Gross Unrealized Losses | 37,361 | 941 |
Securities Held to Maturity, Fair Value | 2,576,584 | 1,710,465 |
U.S. Treasury and government agency securities [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Securities Held to Maturity, Amortized Cost | 100,000 | ' |
Securities Held to Maturity, Gross Unrealized Gains | 316 | ' |
Securities Held to Maturity, Fair Value | 100,316 | ' |
Municipal obligations [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Securities Held to Maturity, Amortized Cost | 193,189 | 164,493 |
Securities Held to Maturity, Gross Unrealized Gains | 919 | 16,017 |
Securities Held to Maturity, Gross Unrealized Losses | 6,436 | ' |
Securities Held to Maturity, Fair Value | 187,672 | 180,510 |
Mortgage-backed securities [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Securities Held to Maturity, Amortized Cost | 1,003,327 | 180,397 |
Securities Held to Maturity, Gross Unrealized Gains | 296 | 3,429 |
Securities Held to Maturity, Gross Unrealized Losses | 4,671 | ' |
Securities Held to Maturity, Fair Value | 998,952 | 183,826 |
Collateralized mortgage obligations [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Securities Held to Maturity, Amortized Cost | 1,314,836 | 1,323,128 |
Securities Held to Maturity, Gross Unrealized Gains | 1,062 | 23,942 |
Securities Held to Maturity, Gross Unrealized Losses | 26,254 | 941 |
Securities Held to Maturity, Fair Value | $1,289,644 | $1,346,129 |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Amortized Cost And Fair Value Debt Securities [Abstract] | ' | ' | ' | ' |
Available for sale securities reclassified to held to maturity securities | $1,000,000,000 | ' | ' | ' |
Unrealized net holding gain on the available for sale securities on the date of transfer | 56,800,000 | ' | ' | ' |
Gains or losses recognized as a result of transfer | 0 | ' | ' | ' |
Proceeds from sales of securities available for sale | ' | 178,000 | 48,336,000 | 342,864,000 |
Securities pledged to secure public deposits and securities sold under agreements to repurchase | ' | $3,100,000,000 | $2,600,000,000 | ' |
Securities_Amortized_Cost_and_2
Securities - Amortized Cost and Fair Value of Available for Sale Securities by Contractual Maturity (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Investments Debt And Equity Securities [Abstract] | ' |
Securities Available for Sale, Due in one year or less, Amortized Cost | $26,323 |
Securities Available for Sale, Due after one year through five years, Amortized Cost | 172,656 |
Securities Available for Sale, Due after five years through ten years, Amortized Cost | 141,522 |
Securities Available for Sale, Due after ten years, Amortized Cost | 1,058,314 |
Total available for sale securities, Amortized Cost | 1,398,815 |
Securities Available for Sale, Due in one year or less, Fair Value | 26,421 |
Securities Available for Sale, Due after one year through five years, Fair Value | 171,832 |
Securities Available for Sale, Due after five years through ten years, Fair Value | 148,160 |
Securities Available for Sale, Due after ten years, Fair Value | 1,064,636 |
Total available for sale securities, Fair Value | $1,411,049 |
Securities_Amortized_Cost_and_3
Securities - Amortized Cost and Fair Value of Held to Maturity Securities by Contractual Maturity (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investments Debt And Equity Securities [Abstract] | ' | ' |
Securities Held to Maturity, Due in one year or less, Amortized Cost | $108,537 | ' |
Securities Held to Maturity, Due after one year through five years, Amortized Cost | 657,944 | ' |
Securities Held to Maturity, Due after five years through ten years, Amortized Cost | 141,597 | ' |
Securities Held to Maturity, Due after ten years, Amortized Cost | 1,703,274 | ' |
Total Held to Maturity securities, Amortized Cost | 2,611,352 | 1,668,018 |
Securities Held to Maturity, Due in one year or less, Fair Value | 108,893 | ' |
Securities Held to Maturity, Due after one year through five years, Fair Value | 638,035 | ' |
Securities Held to Maturity, Due after five years through ten years, Fair Value | 136,633 | ' |
Securities Held to Maturity, Due after ten years, Fair Value | 1,693,023 | ' |
Total Held to Maturity Securities, Fair Value | $2,576,584 | $1,710,465 |
Securities_Available_for_Sale_
Securities - Available for Sale Securities Unrealized Losses (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Unrealized Loss And Fair Value Available For Sale Securities [Line Items] | ' | ' |
Available for sale securities, Losses less than 12 months, Fair Value | $481,937 | $63,298 |
Available for sale securities, Losses Less than 12 months, Gross Unrealized Losses | 9,460 | 30 |
Available for sale securities, Losses 12 months or longer, Fair value | 49,064 | 1,099 |
Available for sale securities, Losses 12 months or longer, Gross Unrealized Losses | 2,914 | 9 |
Available for sale securities, Total, Fair value | 531,001 | 64,397 |
Available for sale securities, Total, Gross Unrealized Losses | 12,374 | 39 |
U.S. Treasury and government agency securities [Member] | ' | ' |
Unrealized Loss And Fair Value Available For Sale Securities [Line Items] | ' | ' |
Available for sale securities, Losses less than 12 months, Fair Value | 205 | ' |
Available for sale securities, Losses Less than 12 months, Gross Unrealized Losses | 1 | ' |
Available for sale securities, Losses 12 months or longer, Fair value | ' | ' |
Available for sale securities, Losses 12 months or longer, Gross Unrealized Losses | ' | ' |
Available for sale securities, Total, Fair value | 205 | ' |
Available for sale securities, Total, Gross Unrealized Losses | 1 | ' |
Municipal obligations [Member] | ' | ' |
Unrealized Loss And Fair Value Available For Sale Securities [Line Items] | ' | ' |
Available for sale securities, Losses less than 12 months, Fair Value | 7,975 | 5,278 |
Available for sale securities, Losses Less than 12 months, Gross Unrealized Losses | 25 | 14 |
Available for sale securities, Losses 12 months or longer, Fair value | ' | ' |
Available for sale securities, Losses 12 months or longer, Gross Unrealized Losses | ' | ' |
Available for sale securities, Total, Fair value | 7,975 | 5,278 |
Available for sale securities, Total, Gross Unrealized Losses | 25 | 14 |
Mortgage-backed securities [Member] | ' | ' |
Unrealized Loss And Fair Value Available For Sale Securities [Line Items] | ' | ' |
Available for sale securities, Losses less than 12 months, Fair Value | 376,350 | 57,752 |
Available for sale securities, Losses Less than 12 months, Gross Unrealized Losses | 7,164 | 14 |
Available for sale securities, Losses 12 months or longer, Fair value | 49,061 | 1,097 |
Available for sale securities, Losses 12 months or longer, Gross Unrealized Losses | 2,913 | 7 |
Available for sale securities, Total, Fair value | 425,411 | 58,849 |
Available for sale securities, Total, Gross Unrealized Losses | 10,077 | 21 |
Collateralized mortgage obligations [Member] | ' | ' |
Unrealized Loss And Fair Value Available For Sale Securities [Line Items] | ' | ' |
Available for sale securities, Losses less than 12 months, Fair Value | 94,125 | ' |
Available for sale securities, Losses Less than 12 months, Gross Unrealized Losses | 2,244 | ' |
Available for sale securities, Losses 12 months or longer, Fair value | ' | ' |
Available for sale securities, Losses 12 months or longer, Gross Unrealized Losses | ' | ' |
Available for sale securities, Total, Fair value | 94,125 | ' |
Available for sale securities, Total, Gross Unrealized Losses | 2,244 | ' |
Equity securities [Member] | ' | ' |
Unrealized Loss And Fair Value Available For Sale Securities [Line Items] | ' | ' |
Available for sale securities, Losses less than 12 months, Fair Value | 3,282 | 268 |
Available for sale securities, Losses Less than 12 months, Gross Unrealized Losses | 26 | 2 |
Available for sale securities, Losses 12 months or longer, Fair value | 3 | 2 |
Available for sale securities, Losses 12 months or longer, Gross Unrealized Losses | 1 | 2 |
Available for sale securities, Total, Fair value | 3,285 | 270 |
Available for sale securities, Total, Gross Unrealized Losses | $27 | $4 |
Securities_Held_to_Maturity_wi
Securities - Held to Maturity with Unrealized Losses (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held to maturity securities, Losses less than 12 months, Fair Value | $2,028,848 | $87,852 |
Held to maturity securities, Losses Less than 12 months, Gross Unrealized Losses | 36,070 | 259 |
Held to maturity securities, Losses 12 months or longer, Fair value | 178,511 | 54,445 |
Held to maturity securities, Losses 12 months or longer, Gross Unrealized Losses | 1,291 | 682 |
Held to maturity securities, Total, Fair value | 2,207,359 | 142,297 |
Held to maturity securities, Total, Gross Unrealized Losses | 37,361 | 941 |
Mortgage-backed securities [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held to maturity securities, Losses less than 12 months, Fair Value | 950,288 | ' |
Held to maturity securities, Losses Less than 12 months, Gross Unrealized Losses | 4,671 | ' |
Held to maturity securities, Total, Fair value | 950,288 | ' |
Held to maturity securities, Total, Gross Unrealized Losses | 4,671 | ' |
Collateralized mortgage obligations [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held to maturity securities, Losses less than 12 months, Fair Value | 947,061 | 87,852 |
Held to maturity securities, Losses Less than 12 months, Gross Unrealized Losses | 25,088 | 259 |
Held to maturity securities, Losses 12 months or longer, Fair value | 175,633 | 54,445 |
Held to maturity securities, Losses 12 months or longer, Gross Unrealized Losses | 1,166 | 682 |
Held to maturity securities, Total, Fair value | 1,122,694 | 142,297 |
Held to maturity securities, Total, Gross Unrealized Losses | 26,254 | 941 |
Municipal obligations [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held to maturity securities, Losses less than 12 months, Fair Value | 131,499 | ' |
Held to maturity securities, Losses Less than 12 months, Gross Unrealized Losses | 6,311 | ' |
Held to maturity securities, Losses 12 months or longer, Fair value | 2,878 | ' |
Held to maturity securities, Losses 12 months or longer, Gross Unrealized Losses | 125 | ' |
Held to maturity securities, Total, Fair value | 134,377 | ' |
Held to maturity securities, Total, Gross Unrealized Losses | $6,436 | ' |
Loans_Loans_Net_of_Unearned_In
Loans - Loans, Net of Unearned Income (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loans Receivable [Line Items] | ' | ' |
Total covered loans | $358,666 | $515,823 |
Total loans | 12,324,817 | 11,577,802 |
Commercial non-real estate [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total covered loans | 23,390 | 29,260 |
Total loans | 5,064,224 | 4,433,288 |
Construction and land development [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total covered loans | 20,229 | 28,482 |
Total loans | 915,541 | 989,306 |
Commercial real estate [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total covered loans | 53,165 | 95,146 |
Total loans | 3,042,841 | 2,923,094 |
Residential mortgages [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total covered loans | 209,018 | 263,515 |
Total loans | 1,720,614 | 1,577,944 |
Consumer [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total covered loans | 52,864 | 99,420 |
Total loans | 1,581,597 | 1,654,170 |
Originated loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total-excluding covered | 9,494,132 | 7,107,221 |
Originated loans [Member] | Commercial non-real estate [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total-excluding covered-Commercial non-real estate | 4,113,837 | 2,713,385 |
Originated loans [Member] | Construction and land development [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total-excluding covered-Construction and land development | 752,381 | 665,673 |
Originated loans [Member] | Commercial real estate [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total-excluding covered-Commercial real estate | 2,022,528 | 1,548,402 |
Originated loans [Member] | Residential mortgages [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total-excluding covered-Residential mortgages | 1,196,256 | 827,985 |
Originated loans [Member] | Consumer [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total-excluding covered-Consumer | 1,409,130 | 1,351,776 |
Acquired loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total-excluding covered | 2,472,019 | 3,954,758 |
Acquired loans [Member] | Commercial non-real estate [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total-excluding covered-Commercial non-real estate | 926,997 | 1,690,643 |
Acquired loans [Member] | Construction and land development [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total-excluding covered-Construction and land development | 142,931 | 295,151 |
Acquired loans [Member] | Commercial real estate [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total-excluding covered-Commercial real estate | 967,148 | 1,279,546 |
Acquired loans [Member] | Residential mortgages [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total-excluding covered-Residential mortgages | 315,340 | 486,444 |
Acquired loans [Member] | Consumer [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total-excluding covered-Consumer | $119,603 | $202,974 |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Non Accrual Loans Segregated By Class Of Loans [Line Items] | ' | ' | ' |
Balances of loans due from related parties | $61,100,000 | $76,800,000 | ' |
Changes in new loans | 37,500,000 | ' | ' |
Changes in affiliates loans | 34,000,000 | ' | ' |
Changes in directors and affiliates loans | 19,200,000 | ' | ' |
Interest that would have been recognized on non - accrual loans | 5,400,000 | 7,800,000 | 4,900,000 |
Interest recovered on non - accrual loans | 3,000,000 | 2,600,000 | 1,100,000 |
Non-accrual loans | 99,657,000 | 137,615,000 | ' |
Troubled debt restructuring | 24,900,000 | 32,200,000 | ' |
Loans held for sale | 24,515,000 | 50,605,000 | ' |
Performing [Member] | ' | ' | ' |
Non Accrual Loans Segregated By Class Of Loans [Line Items] | ' | ' | ' |
Period for which payments of principal and interest are past due | 'Less than 90 days | ' | ' |
Troubled Debt Restructurings [Member] | ' | ' | ' |
Non Accrual Loans Segregated By Class Of Loans [Line Items] | ' | ' | ' |
Non-accrual loans | $15,700,000 | $30,300,000 | ' |
Loans_Allowance_for_Loan_Losse
Loans - Allowance for Loan Losses by Portfolio Segment and Related Recorded Investment in Loans (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | $136,171 | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 12,324,817 | 11,577,802 | ' |
Net provision for loan losses | 32,734 | 54,192 | 38,732 |
Loans and Leases receivable, Allowance, Ending Balance | 133,626 | 136,171 | ' |
Commercial non-real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 5,064,224 | 4,433,288 | ' |
Construction and land development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 915,541 | 989,306 | ' |
Commercial real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 3,042,841 | 2,923,094 | ' |
Residential mortgages [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 1,720,614 | 1,577,944 | ' |
Consumer [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 1,581,597 | 1,654,170 | ' |
Commercial Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | ' | 8,345,688 | ' |
Allowance for loan losses [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 136,171 | 124,881 | ' |
Charge-offs | -52,410 | -95,801 | ' |
Recoveries | 25,746 | 14,701 | ' |
Net provision for loan losses | 32,734 | 54,192 | ' |
(Increase) decrease in FDIC loss share receivable | -8,615 | 38,198 | ' |
Loans and Leases receivable, Allowance, Ending Balance | 133,626 | 136,171 | ' |
Ending balance: Individually evaluated for impairment | 768 | 7,165 | ' |
Ending balance: Amounts related to acquired-impaired loans | 53,094 | 56,609 | ' |
Ending balance: Collectively evaluated for impairment | 79,764 | 72,397 | ' |
Allowance for loan losses [Member] | Commercial non-real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 23,725 | ' | ' |
Charge-offs | -7,742 | ' | ' |
Recoveries | 5,880 | ' | ' |
Net provision for loan losses | 15,275 | ' | ' |
(Increase) decrease in FDIC loss share receivable | -121 | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 37,017 | ' | ' |
Ending balance: Individually evaluated for impairment | 477 | ' | ' |
Ending balance: Amounts related to acquired-impaired loans | 2,323 | ' | ' |
Ending balance: Collectively evaluated for impairment | 34,217 | ' | ' |
Allowance for loan losses [Member] | Construction and land development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 17,038 | ' | ' |
Charge-offs | -11,556 | ' | ' |
Recoveries | 2,411 | ' | ' |
Net provision for loan losses | 1,845 | ' | ' |
(Increase) decrease in FDIC loss share receivable | -893 | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 8,845 | ' | ' |
Ending balance: Individually evaluated for impairment | 22 | ' | ' |
Ending balance: Amounts related to acquired-impaired loans | 2,655 | ' | ' |
Ending balance: Collectively evaluated for impairment | 6,168 | ' | ' |
Allowance for loan losses [Member] | Commercial real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 36,392 | ' | ' |
Charge-offs | -9,939 | ' | ' |
Recoveries | 9,517 | ' | ' |
Net provision for loan losses | -4,895 | ' | ' |
(Increase) decrease in FDIC loss share receivable | 537 | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 31,612 | ' | ' |
Ending balance: Individually evaluated for impairment | 268 | ' | ' |
Ending balance: Amounts related to acquired-impaired loans | 10,929 | ' | ' |
Ending balance: Collectively evaluated for impairment | 20,415 | ' | ' |
Allowance for loan losses [Member] | Residential mortgages [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | ' | 13,918 | ' |
Loans and Leases receivable, Allowance | 36,877 | 39,080 | ' |
Charge-offs | -3,829 | -6,275 | ' |
Recoveries | 1,949 | 324 | ' |
Net provision for loan losses | 6,190 | 19,411 | ' |
(Increase) decrease in FDIC loss share receivable | -6,306 | 11,702 | ' |
Loans and Leases receivable, Allowance, Ending Balance | 34,881 | ' | ' |
Ending balance: Individually evaluated for impairment | 1 | ' | ' |
Ending balance: Amounts related to acquired-impaired loans | 27,989 | 32,674 | ' |
Ending balance: Collectively evaluated for impairment | 6,891 | 6,406 | ' |
Allowance for loan losses [Member] | Consumer [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | ' | 32,549 | ' |
Loans and Leases receivable, Allowance | 22,139 | 19,122 | ' |
Charge-offs | -19,344 | -17,302 | ' |
Recoveries | 5,989 | 4,108 | ' |
Net provision for loan losses | 14,319 | -952 | ' |
(Increase) decrease in FDIC loss share receivable | -1,832 | 719 | ' |
Loans and Leases receivable, Allowance, Ending Balance | 21,271 | ' | ' |
Ending balance: Amounts related to acquired-impaired loans | 9,198 | 5,903 | ' |
Ending balance: Collectively evaluated for impairment | 12,073 | 13,219 | ' |
Allowance for loan losses [Member] | Commercial Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | ' | 78,414 | ' |
Charge-offs | ' | -72,224 | ' |
Recoveries | ' | 10,269 | ' |
Net provision for loan losses | ' | 35,733 | ' |
(Increase) decrease in FDIC loss share receivable | ' | 25,777 | ' |
Loans and Leases receivable, Allowance, Ending Balance | ' | 77,969 | ' |
Ending balance: Individually evaluated for impairment | ' | 7,165 | ' |
Ending balance: Amounts related to acquired-impaired loans | ' | 18,032 | ' |
Ending balance: Collectively evaluated for impairment | ' | 52,772 | ' |
Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 12,324,817 | 11,577,802 | ' |
Ending balance: Individually evaluated for impairment | 35,734 | 78,615 | ' |
Ending balance: Acquired-impaired loans | 426,741 | 660,096 | ' |
Ending balance: Collectively evaluated for impairment | 11,862,342 | 10,839,091 | ' |
Loans [Member] | Commercial non-real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 5,064,224 | ' | ' |
Ending balance: Individually evaluated for impairment | 7,435 | ' | ' |
Ending balance: Acquired-impaired loans | 42,484 | ' | ' |
Ending balance: Collectively evaluated for impairment | 5,014,305 | ' | ' |
Loans [Member] | Construction and land development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 915,541 | ' | ' |
Ending balance: Individually evaluated for impairment | 11,327 | ' | ' |
Ending balance: Acquired-impaired loans | 37,564 | ' | ' |
Ending balance: Collectively evaluated for impairment | 866,650 | ' | ' |
Loans [Member] | Commercial real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 3,042,841 | ' | ' |
Ending balance: Individually evaluated for impairment | 16,367 | ' | ' |
Ending balance: Acquired-impaired loans | 79,223 | ' | ' |
Ending balance: Collectively evaluated for impairment | 2,947,251 | ' | ' |
Loans [Member] | Residential mortgages [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 1,720,614 | 1,577,944 | ' |
Ending balance: Individually evaluated for impairment | 605 | 2,721 | ' |
Ending balance: Acquired-impaired loans | 214,512 | 283,829 | ' |
Ending balance: Collectively evaluated for impairment | 1,505,497 | 1,219,394 | ' |
Loans [Member] | Consumer [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 1,581,597 | 1,654,170 | ' |
Ending balance: Acquired-impaired loans | 52,958 | 100,064 | ' |
Ending balance: Collectively evaluated for impairment | 1,528,639 | 1,554,106 | ' |
Loans [Member] | Commercial Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | ' | 8,345,688 | ' |
Ending balance: Individually evaluated for impairment | ' | 75,894 | ' |
Ending balance: Acquired-impaired loans | ' | 276,203 | ' |
Ending balance: Collectively evaluated for impairment | ' | 7,993,591 | ' |
Originated loans [Member] | Allowance for loan losses [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 78,774 | 83,246 | ' |
Charge-offs | -42,899 | -64,760 | ' |
Recoveries | 18,590 | 9,729 | ' |
Net provision for loan losses | 24,420 | 50,559 | ' |
Loans and Leases receivable, Allowance, Ending Balance | 78,885 | 78,774 | ' |
Ending balance: Individually evaluated for impairment | 768 | 6,377 | ' |
Ending balance: Collectively evaluated for impairment | 78,117 | 72,397 | ' |
Originated loans [Member] | Allowance for loan losses [Member] | Commercial non-real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 20,775 | ' | ' |
Charge-offs | -6,671 | ' | ' |
Recoveries | 5,790 | ' | ' |
Net provision for loan losses | 13,197 | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 33,091 | ' | ' |
Ending balance: Individually evaluated for impairment | 477 | ' | ' |
Ending balance: Collectively evaluated for impairment | 32,614 | ' | ' |
Originated loans [Member] | Allowance for loan losses [Member] | Construction and land development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 11,415 | ' | ' |
Charge-offs | -10,312 | ' | ' |
Recoveries | 1,676 | ' | ' |
Net provision for loan losses | 3,401 | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 6,180 | ' | ' |
Ending balance: Individually evaluated for impairment | 22 | ' | ' |
Ending balance: Collectively evaluated for impairment | 6,158 | ' | ' |
Originated loans [Member] | Allowance for loan losses [Member] | Commercial real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 26,959 | ' | ' |
Charge-offs | -5,525 | ' | ' |
Recoveries | 3,359 | ' | ' |
Net provision for loan losses | -4,144 | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 20,649 | ' | ' |
Ending balance: Individually evaluated for impairment | 268 | ' | ' |
Ending balance: Collectively evaluated for impairment | 20,381 | ' | ' |
Originated loans [Member] | Allowance for loan losses [Member] | Residential mortgages [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 6,406 | 4,894 | ' |
Charge-offs | -2,297 | -6,275 | ' |
Recoveries | 1,936 | 324 | ' |
Net provision for loan losses | 847 | 7,463 | ' |
Loans and Leases receivable, Allowance, Ending Balance | 6,892 | 6,406 | ' |
Ending balance: Individually evaluated for impairment | 1 | ' | ' |
Ending balance: Collectively evaluated for impairment | 6,891 | 6,406 | ' |
Originated loans [Member] | Allowance for loan losses [Member] | Consumer [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 13,219 | 18,141 | ' |
Charge-offs | -18,094 | -16,208 | ' |
Recoveries | 5,829 | 4,030 | ' |
Net provision for loan losses | 11,119 | 7,256 | ' |
Loans and Leases receivable, Allowance, Ending Balance | 12,073 | 13,219 | ' |
Ending balance: Collectively evaluated for impairment | 12,073 | 13,219 | ' |
Originated loans [Member] | Allowance for loan losses [Member] | Commercial Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | ' | 60,211 | ' |
Charge-offs | ' | -42,277 | ' |
Recoveries | ' | 5,375 | ' |
Net provision for loan losses | ' | 35,840 | ' |
Loans and Leases receivable, Allowance, Ending Balance | ' | 59,149 | ' |
Ending balance: Individually evaluated for impairment | ' | 6,377 | ' |
Ending balance: Collectively evaluated for impairment | ' | 52,772 | ' |
Originated loans [Member] | Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 9,494,132 | 7,107,221 | ' |
Ending balance: Individually evaluated for impairment | 30,527 | 73,276 | ' |
Ending balance: Collectively evaluated for impairment | 9,463,605 | 7,033,945 | ' |
Originated loans [Member] | Loans [Member] | Commercial non-real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 4,113,837 | ' | ' |
Ending balance: Individually evaluated for impairment | 5,294 | ' | ' |
Ending balance: Collectively evaluated for impairment | 4,108,543 | ' | ' |
Originated loans [Member] | Loans [Member] | Construction and land development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 752,381 | ' | ' |
Ending balance: Individually evaluated for impairment | 10,599 | ' | ' |
Ending balance: Collectively evaluated for impairment | 741,782 | ' | ' |
Originated loans [Member] | Loans [Member] | Commercial real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 2,022,528 | ' | ' |
Ending balance: Individually evaluated for impairment | 14,029 | ' | ' |
Ending balance: Collectively evaluated for impairment | 2,008,499 | ' | ' |
Originated loans [Member] | Loans [Member] | Residential mortgages [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 1,196,256 | 827,985 | ' |
Ending balance: Individually evaluated for impairment | 605 | 2,721 | ' |
Ending balance: Collectively evaluated for impairment | 1,195,651 | 825,264 | ' |
Originated loans [Member] | Loans [Member] | Consumer [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 1,409,130 | 1,351,776 | ' |
Ending balance: Collectively evaluated for impairment | 1,409,130 | 1,351,776 | ' |
Originated loans [Member] | Loans [Member] | Commercial Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | ' | 4,927,460 | ' |
Ending balance: Individually evaluated for impairment | ' | 70,555 | ' |
Ending balance: Collectively evaluated for impairment | ' | 4,856,905 | ' |
Acquired loans [Member] | Allowance for loan losses [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 788 | ' | ' |
Net provision for loan losses | 859 | 788 | ' |
Loans and Leases receivable, Allowance, Ending Balance | 1,647 | 788 | ' |
Ending balance: Individually evaluated for impairment | ' | 788 | ' |
Ending balance: Collectively evaluated for impairment | 1,647 | ' | ' |
Acquired loans [Member] | Allowance for loan losses [Member] | Commercial non-real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 788 | ' | ' |
Net provision for loan losses | 815 | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 1,603 | ' | ' |
Ending balance: Collectively evaluated for impairment | 1,603 | ' | ' |
Acquired loans [Member] | Allowance for loan losses [Member] | Construction and land development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Net provision for loan losses | 10 | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 10 | ' | ' |
Ending balance: Collectively evaluated for impairment | 10 | ' | ' |
Acquired loans [Member] | Allowance for loan losses [Member] | Commercial real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Net provision for loan losses | 34 | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 34 | ' | ' |
Ending balance: Collectively evaluated for impairment | 34 | ' | ' |
Acquired loans [Member] | Allowance for loan losses [Member] | Commercial Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Net provision for loan losses | ' | 788 | ' |
Loans and Leases receivable, Allowance, Ending Balance | ' | 788 | ' |
Ending balance: Individually evaluated for impairment | ' | 788 | ' |
Acquired loans [Member] | Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 2,472,019 | 3,954,758 | ' |
Ending balance: Individually evaluated for impairment | 5,207 | 5,339 | ' |
Ending balance: Acquired-impaired loans | 68,075 | 144,273 | ' |
Ending balance: Collectively evaluated for impairment | 2,398,737 | 3,805,146 | ' |
Acquired loans [Member] | Loans [Member] | Commercial non-real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 926,997 | ' | ' |
Ending balance: Individually evaluated for impairment | 2,141 | ' | ' |
Ending balance: Acquired-impaired loans | 19,094 | ' | ' |
Ending balance: Collectively evaluated for impairment | 905,762 | ' | ' |
Acquired loans [Member] | Loans [Member] | Construction and land development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 142,931 | ' | ' |
Ending balance: Individually evaluated for impairment | 728 | ' | ' |
Ending balance: Acquired-impaired loans | 17,335 | ' | ' |
Ending balance: Collectively evaluated for impairment | 124,868 | ' | ' |
Acquired loans [Member] | Loans [Member] | Commercial real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 967,148 | ' | ' |
Ending balance: Individually evaluated for impairment | 2,338 | ' | ' |
Ending balance: Acquired-impaired loans | 26,058 | ' | ' |
Ending balance: Collectively evaluated for impairment | 938,752 | ' | ' |
Acquired loans [Member] | Loans [Member] | Residential mortgages [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 315,340 | 486,444 | ' |
Ending balance: Acquired-impaired loans | 5,494 | 20,314 | ' |
Ending balance: Collectively evaluated for impairment | 309,846 | 466,130 | ' |
Acquired loans [Member] | Loans [Member] | Consumer [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 119,603 | 202,974 | ' |
Ending balance: Acquired-impaired loans | 94 | 644 | ' |
Ending balance: Collectively evaluated for impairment | 119,509 | 202,330 | ' |
Acquired loans [Member] | Loans [Member] | Commercial Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | ' | 3,265,340 | ' |
Ending balance: Individually evaluated for impairment | ' | 5,339 | ' |
Ending balance: Acquired-impaired loans | ' | 123,315 | ' |
Ending balance: Collectively evaluated for impairment | ' | 3,136,686 | ' |
Covered Loan [Member] | Allowance for loan losses [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 56,609 | 41,635 | ' |
Charge-offs | -9,511 | -31,041 | ' |
Recoveries | 7,156 | 4,972 | ' |
Net provision for loan losses | 7,455 | 2,845 | ' |
(Increase) decrease in FDIC loss share receivable | -8,615 | 38,198 | ' |
Loans and Leases receivable, Allowance, Ending Balance | 53,094 | 56,609 | ' |
Ending balance: Amounts related to acquired-impaired loans | 53,094 | 56,609 | ' |
Covered Loan [Member] | Allowance for loan losses [Member] | Commercial non-real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 2,162 | ' | ' |
Charge-offs | -1,071 | ' | ' |
Recoveries | 90 | ' | ' |
Net provision for loan losses | 1,263 | ' | ' |
(Increase) decrease in FDIC loss share receivable | -121 | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 2,323 | ' | ' |
Ending balance: Amounts related to acquired-impaired loans | 2,323 | ' | ' |
Covered Loan [Member] | Allowance for loan losses [Member] | Construction and land development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 5,623 | ' | ' |
Charge-offs | -1,244 | ' | ' |
Recoveries | 735 | ' | ' |
Net provision for loan losses | -1,566 | ' | ' |
(Increase) decrease in FDIC loss share receivable | -893 | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 2,655 | ' | ' |
Ending balance: Amounts related to acquired-impaired loans | 2,655 | ' | ' |
Covered Loan [Member] | Allowance for loan losses [Member] | Commercial real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | 9,433 | ' | ' |
Charge-offs | -4,414 | ' | ' |
Recoveries | 6,158 | ' | ' |
Net provision for loan losses | -785 | ' | ' |
(Increase) decrease in FDIC loss share receivable | 537 | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 10,929 | ' | ' |
Ending balance: Amounts related to acquired-impaired loans | 10,929 | ' | ' |
Covered Loan [Member] | Allowance for loan losses [Member] | Residential mortgages [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | ' | 9,024 | ' |
Loans and Leases receivable, Allowance | 30,471 | 32,674 | ' |
Charge-offs | -1,532 | ' | ' |
Recoveries | 13 | ' | ' |
Net provision for loan losses | 5,343 | 11,948 | ' |
(Increase) decrease in FDIC loss share receivable | -6,306 | 11,702 | ' |
Loans and Leases receivable, Allowance, Ending Balance | 27,989 | ' | ' |
Ending balance: Amounts related to acquired-impaired loans | 27,989 | 32,674 | ' |
Covered Loan [Member] | Allowance for loan losses [Member] | Consumer [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | ' | 14,408 | ' |
Loans and Leases receivable, Allowance | 8,920 | 5,903 | ' |
Charge-offs | -1,250 | -1,094 | ' |
Recoveries | 160 | 78 | ' |
Net provision for loan losses | 3,200 | -8,208 | ' |
(Increase) decrease in FDIC loss share receivable | -1,832 | 719 | ' |
Loans and Leases receivable, Allowance, Ending Balance | 9,198 | ' | ' |
Ending balance: Amounts related to acquired-impaired loans | 9,198 | 5,903 | ' |
Covered Loan [Member] | Allowance for loan losses [Member] | Commercial Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Beginning Balance | ' | 18,203 | ' |
Charge-offs | ' | -29,947 | ' |
Recoveries | ' | 4,894 | ' |
Net provision for loan losses | ' | -895 | ' |
(Increase) decrease in FDIC loss share receivable | ' | 25,777 | ' |
Loans and Leases receivable, Allowance, Ending Balance | ' | 18,032 | ' |
Ending balance: Amounts related to acquired-impaired loans | ' | 18,032 | ' |
Covered Loan [Member] | Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 358,666 | 515,823 | ' |
Ending balance: Acquired-impaired loans | 358,666 | 515,823 | ' |
Covered Loan [Member] | Loans [Member] | Commercial non-real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 23,390 | ' | ' |
Ending balance: Acquired-impaired loans | 23,390 | ' | ' |
Covered Loan [Member] | Loans [Member] | Construction and land development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 20,229 | ' | ' |
Ending balance: Acquired-impaired loans | 20,229 | ' | ' |
Covered Loan [Member] | Loans [Member] | Commercial real estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 53,165 | ' | ' |
Ending balance: Acquired-impaired loans | 53,165 | ' | ' |
Covered Loan [Member] | Loans [Member] | Residential mortgages [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 209,018 | 263,515 | ' |
Ending balance: Acquired-impaired loans | 209,018 | 263,515 | ' |
Covered Loan [Member] | Loans [Member] | Consumer [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | 52,864 | 99,420 | ' |
Ending balance: Acquired-impaired loans | 52,864 | 99,420 | ' |
Covered Loan [Member] | Loans [Member] | Commercial Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and Leases receivable, Allowance, Ending Balance | ' | 152,888 | ' |
Ending balance: Acquired-impaired loans | ' | $152,888 | ' |
Loans_Schedule_of_Activity_in_
Loans - Schedule of Activity in Loss Share Receivable (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Receivables [Abstract] | ' | ' | ' |
Beginning balance | $177,844 | $231,085 | ' |
(Amortization) accretion | -2,239 | 5,000 | 16,689 |
Charge-offs, write-downs and other losses | -9,123 | 45,459 | ' |
External expenses qualifying under loss share agreement | 9,117 | 11,276 | ' |
Payments received from the FDIC | -61,765 | -114,976 | -181,753 |
Ending balance | $113,834 | $177,844 | $231,085 |
Loans_Summary_of_Composition_o
Loans - Summary of Composition of Non-Accrual Loans by Portfolio Segment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | $99,657 | $137,615 |
Commercial non-real estate [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 13,330 | 23,267 |
Construction and land development [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 16,700 | 41,231 |
Commercial real estate [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 40,460 | 48,019 |
Residential mortgages [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 22,255 | 18,649 |
Consumer [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 6,912 | 6,449 |
Originated loans [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 74,313 | 103,428 |
Originated loans [Member] | Commercial non-real estate [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 10,119 | 18,941 |
Originated loans [Member] | Construction and land development [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 13,171 | 32,777 |
Originated loans [Member] | Commercial real estate [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 32,772 | 40,190 |
Originated loans [Member] | Residential mortgages [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 13,449 | 7,705 |
Originated loans [Member] | Consumer [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 4,802 | 3,815 |
Acquired loans [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 21,800 | 30,087 |
Acquired loans [Member] | Commercial non-real estate [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 3,209 | 4,326 |
Acquired loans [Member] | Construction and land development [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 1,990 | 5,967 |
Acquired loans [Member] | Commercial real estate [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 6,525 | 6,609 |
Acquired loans [Member] | Residential mortgages [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 8,262 | 10,551 |
Acquired loans [Member] | Consumer [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 1,814 | 2,634 |
Covered Loan [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 3,544 | 4,100 |
Covered Loan [Member] | Commercial non-real estate [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 2 | ' |
Covered Loan [Member] | Construction and land development [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 1,539 | 2,487 |
Covered Loan [Member] | Commercial real estate [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 1,163 | 1,220 |
Covered Loan [Member] | Residential mortgages [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | 544 | 393 |
Covered Loan [Member] | Consumer [Member] | ' | ' |
Nonaccrual Loans By Portfolio [Line Items] | ' | ' |
Non-accrual loans | $296 | ' |
Loans_Schedule_of_Troubled_Deb
Loans - Schedule of Troubled Debt Restructurings Occurred During Period by Portfolio Segment (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Contract | Contract | |
Troubled Debt Restructurings [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 8 | 24 |
Pre-Modification Outstanding Recorded Investment | $3,740 | $22,726 |
Post-Modification Outstanding Recorded Investment | 3,371 | 21,968 |
Troubled Debt Restructurings [Member] | Commercial non-real estate [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 1 | 7 |
Pre-Modification Outstanding Recorded Investment | 926 | 6,241 |
Post-Modification Outstanding Recorded Investment | 909 | 6,176 |
Troubled Debt Restructurings [Member] | Commercial real estate [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 5 | 14 |
Pre-Modification Outstanding Recorded Investment | 1,844 | 15,620 |
Post-Modification Outstanding Recorded Investment | 1,629 | 15,064 |
Troubled Debt Restructurings [Member] | Residential mortgages [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 2 | 3 |
Pre-Modification Outstanding Recorded Investment | 970 | 865 |
Post-Modification Outstanding Recorded Investment | 833 | 728 |
Troubled Debt Restructurings [Member] | Originated loans [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 6 | 19 |
Pre-Modification Outstanding Recorded Investment | 2,714 | 16,896 |
Post-Modification Outstanding Recorded Investment | 2,396 | 16,186 |
Troubled Debt Restructurings [Member] | Originated loans [Member] | Commercial non-real estate [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 1 | 4 |
Pre-Modification Outstanding Recorded Investment | 926 | 2,194 |
Post-Modification Outstanding Recorded Investment | 909 | 2,169 |
Troubled Debt Restructurings [Member] | Originated loans [Member] | Commercial real estate [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 4 | 12 |
Pre-Modification Outstanding Recorded Investment | 1,332 | 13,837 |
Post-Modification Outstanding Recorded Investment | 1,157 | 13,289 |
Troubled Debt Restructurings [Member] | Originated loans [Member] | Residential mortgages [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 1 | 3 |
Pre-Modification Outstanding Recorded Investment | 456 | 865 |
Post-Modification Outstanding Recorded Investment | 330 | 728 |
Troubled Debt Restructurings [Member] | Acquired loans [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 2 | 5 |
Pre-Modification Outstanding Recorded Investment | 1,026 | 5,830 |
Post-Modification Outstanding Recorded Investment | 975 | 5,782 |
Troubled Debt Restructurings [Member] | Acquired loans [Member] | Commercial non-real estate [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | ' | 3 |
Pre-Modification Outstanding Recorded Investment | ' | 4,047 |
Post-Modification Outstanding Recorded Investment | ' | 4,007 |
Troubled Debt Restructurings [Member] | Acquired loans [Member] | Commercial real estate [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 1 | 2 |
Pre-Modification Outstanding Recorded Investment | 512 | 1,783 |
Post-Modification Outstanding Recorded Investment | 472 | 1,775 |
Troubled Debt Restructurings [Member] | Acquired loans [Member] | Residential mortgages [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 1 | ' |
Pre-Modification Outstanding Recorded Investment | 514 | ' |
Post-Modification Outstanding Recorded Investment | 503 | ' |
Troubled Debt Restructurings That Subsequently Defaulted [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 7 | 1 |
Recorded Investment | 2,741 | 275 |
Troubled Debt Restructurings That Subsequently Defaulted [Member] | Commercial real estate [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 6 | 1 |
Recorded Investment | 2,487 | 275 |
Troubled Debt Restructurings That Subsequently Defaulted [Member] | Residential mortgages [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 1 | ' |
Recorded Investment | 254 | ' |
Troubled Debt Restructurings That Subsequently Defaulted [Member] | Originated loans [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 7 | 1 |
Recorded Investment | 2,741 | 275 |
Troubled Debt Restructurings That Subsequently Defaulted [Member] | Originated loans [Member] | Commercial real estate [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 6 | 1 |
Recorded Investment | 2,487 | 275 |
Troubled Debt Restructurings That Subsequently Defaulted [Member] | Originated loans [Member] | Residential mortgages [Member] | ' | ' |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ' | ' |
Number of Contracts | 1 | ' |
Recorded Investment | $254 | ' |
Loans_Summary_of_Impaired_Loan
Loans - Summary of Impaired Loans Disaggregated by Class (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | $14,958 | $37,426 |
Recorded Investment, With a related allowance recorded | 20,776 | 42,052 |
Recorded Investment, Total | 35,734 | 79,478 |
Unpaid Principal Balance, With no related allowance recorded | 20,589 | 59,975 |
Unpaid Principal Balance, With a related allowance recorded | 23,356 | 44,303 |
Unpaid Principal Balance, Total | 43,945 | 104,278 |
Related Allowance, Total | 768 | 7,165 |
Average Recorded Investment, With no related allowance recorded | 23,083 | 27,048 |
Average Recorded Investment, With a related allowance recorded | 38,833 | 47,402 |
Average Recorded Investment, Total | 61,916 | 74,450 |
Interest Income Recognized, With no related allowance recorded | 534 | 619 |
Interest Income Recognized, With a related allowance recorded | 703 | 703 |
Interest Income Recognized, Total | 1,237 | 1,322 |
Commercial non-real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | 2,470 | ' |
Recorded Investment, With a related allowance recorded | 4,965 | ' |
Recorded Investment, Total | 7,435 | ' |
Unpaid Principal Balance, With no related allowance recorded | 3,717 | ' |
Unpaid Principal Balance, With a related allowance recorded | 5,303 | ' |
Unpaid Principal Balance, Total | 9,020 | ' |
Related Allowance, Total | 477 | ' |
Average Recorded Investment, With no related allowance recorded | 1,100 | ' |
Average Recorded Investment, With a related allowance recorded | 11,683 | ' |
Average Recorded Investment, Total | 12,783 | ' |
Interest Income Recognized, With no related allowance recorded | 26 | ' |
Interest Income Recognized, With a related allowance recorded | 243 | ' |
Interest Income Recognized, Total | 269 | ' |
Construction and land development [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | 4,829 | ' |
Recorded Investment, With a related allowance recorded | 6,498 | ' |
Recorded Investment, Total | 11,327 | ' |
Unpaid Principal Balance, With no related allowance recorded | 6,273 | ' |
Unpaid Principal Balance, With a related allowance recorded | 8,343 | ' |
Unpaid Principal Balance, Total | 14,616 | ' |
Related Allowance, Total | 22 | ' |
Average Recorded Investment, With no related allowance recorded | 3,076 | ' |
Average Recorded Investment, With a related allowance recorded | 2,706 | ' |
Average Recorded Investment, Total | 5,782 | ' |
Interest Income Recognized, With no related allowance recorded | 85 | ' |
Interest Income Recognized, Total | 85 | ' |
Commercial real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | 7,186 | ' |
Recorded Investment, With a related allowance recorded | 8,708 | ' |
Recorded Investment, Total | 15,894 | ' |
Unpaid Principal Balance, With no related allowance recorded | 10,092 | ' |
Unpaid Principal Balance, With a related allowance recorded | 9,090 | ' |
Unpaid Principal Balance, Total | 19,182 | ' |
Related Allowance, Total | 268 | ' |
Average Recorded Investment, With no related allowance recorded | 17,225 | ' |
Average Recorded Investment, With a related allowance recorded | 22,346 | ' |
Average Recorded Investment, Total | 39,571 | ' |
Interest Income Recognized, With no related allowance recorded | 423 | ' |
Interest Income Recognized, With a related allowance recorded | 460 | ' |
Interest Income Recognized, Total | 883 | ' |
Residential mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | 473 | 2,721 |
Recorded Investment, With a related allowance recorded | 605 | ' |
Recorded Investment, Total | 1,078 | 2,721 |
Unpaid Principal Balance, With no related allowance recorded | 507 | 4,874 |
Unpaid Principal Balance, With a related allowance recorded | 620 | ' |
Unpaid Principal Balance, Total | 1,127 | 4,874 |
Related Allowance, Total | 1 | ' |
Average Recorded Investment, With no related allowance recorded | 669 | 3,255 |
Average Recorded Investment, With a related allowance recorded | 1,073 | 4,619 |
Average Recorded Investment, Total | 1,742 | 7,874 |
Interest Income Recognized, With no related allowance recorded | ' | 155 |
Interest Income Recognized, Total | ' | 155 |
Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Average Recorded Investment, With no related allowance recorded | 1,013 | ' |
Average Recorded Investment, With a related allowance recorded | 1,025 | ' |
Average Recorded Investment, Total | 2,038 | ' |
Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | ' | 34,705 |
Recorded Investment, With a related allowance recorded | ' | 42,052 |
Recorded Investment, Total | ' | 76,757 |
Unpaid Principal Balance, With no related allowance recorded | ' | 55,101 |
Unpaid Principal Balance, With a related allowance recorded | ' | 44,303 |
Unpaid Principal Balance, Total | ' | 99,404 |
Related Allowance, Total | ' | 7,165 |
Average Recorded Investment, With no related allowance recorded | ' | 23,793 |
Average Recorded Investment, With a related allowance recorded | ' | 42,783 |
Average Recorded Investment, Total | ' | 66,576 |
Interest Income Recognized, With no related allowance recorded | ' | 464 |
Interest Income Recognized, With a related allowance recorded | ' | 703 |
Interest Income Recognized, Total | ' | 1,167 |
Originated loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | 9,751 | 37,426 |
Recorded Investment, With a related allowance recorded | 20,776 | 35,850 |
Recorded Investment, Total | 30,527 | 73,276 |
Unpaid Principal Balance, With no related allowance recorded | 13,031 | 59,975 |
Unpaid Principal Balance, With a related allowance recorded | 23,356 | 37,917 |
Unpaid Principal Balance, Total | 36,387 | 97,892 |
Related Allowance, Total | 768 | 6,377 |
Average Recorded Investment, With no related allowance recorded | 20,176 | 27,048 |
Average Recorded Investment, With a related allowance recorded | 32,421 | 45,851 |
Average Recorded Investment, Total | 52,597 | 72,899 |
Interest Income Recognized, With no related allowance recorded | 474 | 619 |
Interest Income Recognized, With a related allowance recorded | 640 | 703 |
Interest Income Recognized, Total | 1,114 | 1,322 |
Originated loans [Member] | Commercial non-real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | 329 | ' |
Recorded Investment, With a related allowance recorded | 4,965 | ' |
Recorded Investment, Total | 5,294 | ' |
Unpaid Principal Balance, With no related allowance recorded | 442 | ' |
Unpaid Principal Balance, With a related allowance recorded | 5,303 | ' |
Unpaid Principal Balance, Total | 5,745 | ' |
Related Allowance, Total | 477 | ' |
Average Recorded Investment, With no related allowance recorded | 235 | ' |
Average Recorded Investment, With a related allowance recorded | 8,936 | ' |
Average Recorded Investment, Total | 9,171 | ' |
Interest Income Recognized, With no related allowance recorded | 18 | ' |
Interest Income Recognized, With a related allowance recorded | 180 | ' |
Interest Income Recognized, Total | 198 | ' |
Originated loans [Member] | Construction and land development [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | 4,101 | ' |
Recorded Investment, With a related allowance recorded | 6,498 | ' |
Recorded Investment, Total | 10,599 | ' |
Unpaid Principal Balance, With no related allowance recorded | 5,131 | ' |
Unpaid Principal Balance, With a related allowance recorded | 8,343 | ' |
Unpaid Principal Balance, Total | 13,474 | ' |
Related Allowance, Total | 22 | ' |
Average Recorded Investment, With no related allowance recorded | 2,780 | ' |
Average Recorded Investment, With a related allowance recorded | 2,549 | ' |
Average Recorded Investment, Total | 5,329 | ' |
Interest Income Recognized, With no related allowance recorded | 82 | ' |
Interest Income Recognized, Total | 82 | ' |
Originated loans [Member] | Commercial real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | 5,321 | ' |
Recorded Investment, With a related allowance recorded | 8,708 | ' |
Recorded Investment, Total | 14,029 | ' |
Unpaid Principal Balance, With no related allowance recorded | 7,458 | ' |
Unpaid Principal Balance, With a related allowance recorded | 9,090 | ' |
Unpaid Principal Balance, Total | 16,548 | ' |
Related Allowance, Total | 268 | ' |
Average Recorded Investment, With no related allowance recorded | 15,886 | ' |
Average Recorded Investment, With a related allowance recorded | 19,683 | ' |
Average Recorded Investment, Total | 35,569 | ' |
Interest Income Recognized, With no related allowance recorded | 374 | ' |
Interest Income Recognized, With a related allowance recorded | 460 | ' |
Interest Income Recognized, Total | 834 | ' |
Originated loans [Member] | Residential mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | ' | 2,721 |
Recorded Investment, With a related allowance recorded | 605 | ' |
Recorded Investment, Total | 605 | 2,721 |
Unpaid Principal Balance, With no related allowance recorded | ' | 4,874 |
Unpaid Principal Balance, With a related allowance recorded | 620 | ' |
Unpaid Principal Balance, Total | 620 | 4,874 |
Related Allowance, Total | 1 | ' |
Average Recorded Investment, With no related allowance recorded | 262 | 3,255 |
Average Recorded Investment, With a related allowance recorded | 228 | 4,619 |
Average Recorded Investment, Total | 490 | 7,874 |
Interest Income Recognized, With no related allowance recorded | ' | 155 |
Interest Income Recognized, Total | ' | 155 |
Originated loans [Member] | Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Average Recorded Investment, With no related allowance recorded | 1,013 | ' |
Average Recorded Investment, With a related allowance recorded | 1,025 | ' |
Average Recorded Investment, Total | 2,038 | ' |
Originated loans [Member] | Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | ' | 34,705 |
Recorded Investment, With a related allowance recorded | ' | 35,850 |
Recorded Investment, Total | ' | 70,555 |
Unpaid Principal Balance, With no related allowance recorded | ' | 55,101 |
Unpaid Principal Balance, With a related allowance recorded | ' | 37,917 |
Unpaid Principal Balance, Total | ' | 93,018 |
Related Allowance, Total | ' | 6,377 |
Average Recorded Investment, With no related allowance recorded | ' | 23,793 |
Average Recorded Investment, With a related allowance recorded | ' | 41,232 |
Average Recorded Investment, Total | ' | 65,025 |
Interest Income Recognized, With no related allowance recorded | ' | 464 |
Interest Income Recognized, With a related allowance recorded | ' | 703 |
Interest Income Recognized, Total | ' | 1,167 |
Acquired loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | 5,207 | ' |
Recorded Investment, With a related allowance recorded | ' | 6,202 |
Recorded Investment, Total | 5,207 | 6,202 |
Unpaid Principal Balance, With no related allowance recorded | 7,558 | ' |
Unpaid Principal Balance, With a related allowance recorded | ' | 6,386 |
Unpaid Principal Balance, Total | 7,558 | 6,386 |
Related Allowance, Total | ' | 788 |
Average Recorded Investment, With no related allowance recorded | 2,907 | ' |
Average Recorded Investment, With a related allowance recorded | 6,412 | 1,551 |
Average Recorded Investment, Total | 9,319 | 1,551 |
Interest Income Recognized, With no related allowance recorded | 60 | ' |
Interest Income Recognized, With a related allowance recorded | 63 | ' |
Interest Income Recognized, Total | 123 | ' |
Acquired loans [Member] | Commercial non-real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | 2,141 | ' |
Recorded Investment, Total | 2,141 | ' |
Unpaid Principal Balance, With no related allowance recorded | 3,275 | ' |
Unpaid Principal Balance, Total | 3,275 | ' |
Average Recorded Investment, With no related allowance recorded | 865 | ' |
Average Recorded Investment, With a related allowance recorded | 2,747 | ' |
Average Recorded Investment, Total | 3,612 | ' |
Interest Income Recognized, With no related allowance recorded | 8 | ' |
Interest Income Recognized, With a related allowance recorded | 63 | ' |
Interest Income Recognized, Total | 71 | ' |
Acquired loans [Member] | Construction and land development [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | 728 | ' |
Recorded Investment, Total | 728 | ' |
Unpaid Principal Balance, With no related allowance recorded | 1,142 | ' |
Unpaid Principal Balance, Total | 1,142 | ' |
Average Recorded Investment, With no related allowance recorded | 296 | ' |
Average Recorded Investment, With a related allowance recorded | 157 | ' |
Average Recorded Investment, Total | 453 | ' |
Interest Income Recognized, With no related allowance recorded | 3 | ' |
Interest Income Recognized, Total | 3 | ' |
Acquired loans [Member] | Commercial real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | 1,865 | ' |
Recorded Investment, Total | 1,865 | ' |
Unpaid Principal Balance, With no related allowance recorded | 2,634 | ' |
Unpaid Principal Balance, Total | 2,634 | ' |
Average Recorded Investment, With no related allowance recorded | 1,339 | ' |
Average Recorded Investment, With a related allowance recorded | 2,663 | ' |
Average Recorded Investment, Total | 4,002 | ' |
Interest Income Recognized, With no related allowance recorded | 49 | ' |
Interest Income Recognized, Total | 49 | ' |
Acquired loans [Member] | Residential mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With no related allowance recorded | 473 | ' |
Recorded Investment, Total | 473 | ' |
Unpaid Principal Balance, With no related allowance recorded | 507 | ' |
Unpaid Principal Balance, Total | 507 | ' |
Average Recorded Investment, With no related allowance recorded | 407 | ' |
Average Recorded Investment, With a related allowance recorded | 845 | ' |
Average Recorded Investment, Total | 1,252 | ' |
Acquired loans [Member] | Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment, With a related allowance recorded | ' | 6,202 |
Recorded Investment, Total | ' | 6,202 |
Unpaid Principal Balance, With a related allowance recorded | ' | 6,386 |
Unpaid Principal Balance, Total | ' | 6,386 |
Related Allowance, Total | ' | 788 |
Average Recorded Investment, With a related allowance recorded | ' | 1,551 |
Average Recorded Investment, Total | ' | $1,551 |
Loans_Summary_of_Age_Analysis_
Loans - Summary of Age Analysis of Past Due Loans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total covered loans | $358,666 | $515,823 |
Total loans | 12,324,817 | 11,577,802 |
30-59 days past due | 60,155 | 85,960 |
60-89 days past due | 22,018 | 28,347 |
Greater than 90 days past due | 53,143 | 85,726 |
Total past due | 135,316 | 200,033 |
Current | 12,189,501 | 11,377,769 |
Recorded investment > 90 days and accruing | 10,387 | 13,243 |
Commercial non-real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total covered loans | 23,390 | 29,260 |
Total loans | 5,064,224 | 4,433,288 |
30-59 days past due | 13,627 | ' |
60-89 days past due | 3,535 | ' |
Greater than 90 days past due | 6,270 | ' |
Total past due | 23,432 | ' |
Current | 5,040,792 | ' |
Recorded investment > 90 days and accruing | 1,062 | ' |
Construction and land development [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total covered loans | 20,229 | 28,482 |
Total loans | 915,541 | 989,306 |
30-59 days past due | 6,739 | ' |
60-89 days past due | 2,793 | ' |
Greater than 90 days past due | 8,670 | ' |
Total past due | 18,202 | ' |
Current | 897,339 | ' |
Recorded investment > 90 days and accruing | 541 | ' |
Commercial real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total covered loans | 53,165 | 95,146 |
Total loans | 3,042,841 | 2,923,094 |
30-59 days past due | 11,920 | ' |
60-89 days past due | 7,089 | ' |
Greater than 90 days past due | 24,321 | ' |
Total past due | 43,330 | ' |
Current | 2,999,511 | ' |
Recorded investment > 90 days and accruing | 6,273 | ' |
Residential mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total covered loans | 209,018 | 263,515 |
Total loans | 1,720,614 | 1,577,944 |
30-59 days past due | 18,042 | 21,141 |
60-89 days past due | 6,568 | 4,593 |
Greater than 90 days past due | 9,046 | 13,489 |
Total past due | 33,656 | 39,223 |
Current | 1,686,958 | 1,538,721 |
Recorded investment > 90 days and accruing | 72 | 1,106 |
Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total covered loans | 52,864 | 99,420 |
Total loans | 1,581,597 | 1,654,170 |
30-59 days past due | 9,827 | 11,630 |
60-89 days past due | 2,033 | 2,580 |
Greater than 90 days past due | 4,836 | 6,401 |
Total past due | 16,696 | 20,611 |
Current | 1,564,901 | 1,633,559 |
Recorded investment > 90 days and accruing | 2,439 | 2,521 |
Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total loans | ' | 8,345,688 |
30-59 days past due | ' | 53,189 |
60-89 days past due | ' | 21,174 |
Greater than 90 days past due | ' | 65,836 |
Total past due | ' | 140,199 |
Current | ' | 8,205,489 |
Recorded investment > 90 days and accruing | ' | 9,616 |
Originated loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total-excluding covered | 9,494,132 | 7,107,221 |
30-59 days past due | 46,908 | 46,246 |
60-89 days past due | 13,994 | 21,961 |
Greater than 90 days past due | 32,756 | 54,686 |
Total past due | 93,658 | 122,893 |
Current | 9,400,474 | 6,984,328 |
Recorded investment > 90 days and accruing | 3,285 | 7,736 |
Originated loans [Member] | Commercial non-real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total-excluding covered-Commercial non-real estate | 4,113,837 | 2,713,385 |
30-59 days past due | 11,645 | ' |
60-89 days past due | 1,203 | ' |
Greater than 90 days past due | 4,803 | ' |
Total past due | 17,651 | ' |
Current | 4,096,186 | ' |
Recorded investment > 90 days and accruing | 521 | ' |
Originated loans [Member] | Construction and land development [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total-excluding covered-Construction and land development | 752,381 | 665,673 |
30-59 days past due | 5,877 | ' |
60-89 days past due | 1,264 | ' |
Greater than 90 days past due | 5,970 | ' |
Total past due | 13,111 | ' |
Current | 739,270 | ' |
Originated loans [Member] | Commercial real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total-excluding covered-Commercial real estate | 2,022,528 | 1,548,402 |
30-59 days past due | 8,178 | ' |
60-89 days past due | 5,744 | ' |
Greater than 90 days past due | 14,620 | ' |
Total past due | 28,542 | ' |
Current | 1,993,986 | ' |
Recorded investment > 90 days and accruing | 420 | ' |
Originated loans [Member] | Residential mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total-excluding covered-Residential mortgages | 1,196,256 | 827,985 |
30-59 days past due | 12,410 | 11,500 |
60-89 days past due | 3,870 | 3,303 |
Greater than 90 days past due | 3,540 | 4,100 |
Total past due | 19,820 | 18,903 |
Current | 1,176,436 | 809,082 |
Originated loans [Member] | Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total-excluding covered-Consumer | 1,409,130 | 1,351,776 |
30-59 days past due | 8,798 | 10,348 |
60-89 days past due | 1,913 | 2,150 |
Greater than 90 days past due | 3,823 | 4,231 |
Total past due | 14,534 | 16,729 |
Current | 1,394,596 | 1,335,047 |
Recorded investment > 90 days and accruing | 2,344 | 2,474 |
Originated loans [Member] | Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total-excluding covered-Commercial non-real estate | ' | 4,927,460 |
30-59 days past due | ' | 24,398 |
60-89 days past due | ' | 16,508 |
Greater than 90 days past due | ' | 46,355 |
Total past due | ' | 87,261 |
Current | ' | 4,840,199 |
Recorded investment > 90 days and accruing | ' | 5,262 |
Acquired loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total-excluding covered | 2,472,019 | 3,954,758 |
30-59 days past due | 13,247 | 39,714 |
60-89 days past due | 8,024 | 6,386 |
Greater than 90 days past due | 18,170 | 26,940 |
Total past due | 39,441 | 73,040 |
Current | 2,432,578 | 3,881,718 |
Recorded investment > 90 days and accruing | 7,089 | 5,507 |
Acquired loans [Member] | Commercial non-real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total-excluding covered-Commercial non-real estate | 926,997 | 1,690,643 |
30-59 days past due | 1,982 | ' |
60-89 days past due | 2,332 | ' |
Greater than 90 days past due | 1,467 | ' |
Total past due | 5,781 | ' |
Current | 921,216 | ' |
Recorded investment > 90 days and accruing | 541 | ' |
Acquired loans [Member] | Construction and land development [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total-excluding covered-Construction and land development | 142,931 | 295,151 |
30-59 days past due | 862 | ' |
60-89 days past due | 1,529 | ' |
Greater than 90 days past due | 1,161 | ' |
Total past due | 3,552 | ' |
Current | 139,379 | ' |
Recorded investment > 90 days and accruing | 541 | ' |
Acquired loans [Member] | Commercial real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total-excluding covered-Commercial real estate | 967,148 | 1,279,546 |
30-59 days past due | 3,742 | ' |
60-89 days past due | 1,345 | ' |
Greater than 90 days past due | 9,026 | ' |
Total past due | 14,113 | ' |
Current | 953,035 | ' |
Recorded investment > 90 days and accruing | 5,853 | ' |
Acquired loans [Member] | Residential mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total-excluding covered-Residential mortgages | 315,340 | 486,444 |
30-59 days past due | 5,632 | 9,641 |
60-89 days past due | 2,698 | 1,290 |
Greater than 90 days past due | 5,503 | 8,996 |
Total past due | 13,833 | 19,927 |
Current | 301,507 | 466,517 |
Recorded investment > 90 days and accruing | 72 | 1,106 |
Acquired loans [Member] | Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total-excluding covered-Consumer | 119,603 | 202,974 |
30-59 days past due | 1,029 | 1,282 |
60-89 days past due | 120 | 430 |
Greater than 90 days past due | 1,013 | 2,170 |
Total past due | 2,162 | 3,882 |
Current | 117,441 | 199,092 |
Recorded investment > 90 days and accruing | 82 | 47 |
Acquired loans [Member] | Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total-excluding covered-Commercial non-real estate | ' | 3,265,340 |
30-59 days past due | ' | 28,791 |
60-89 days past due | ' | 4,666 |
Greater than 90 days past due | ' | 15,774 |
Total past due | ' | 49,231 |
Current | ' | 3,216,109 |
Recorded investment > 90 days and accruing | ' | 4,354 |
Covered loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total covered loans | 358,666 | 515,823 |
Greater than 90 days past due | 2,217 | 4,100 |
Total past due | 2,217 | 4,100 |
Current | 356,449 | 511,723 |
Covered loans [Member] | Commercial non-real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total covered loans | 23,390 | ' |
Current | 23,390 | ' |
Covered loans [Member] | Construction and land development [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total covered loans | 20,229 | ' |
Greater than 90 days past due | 1,539 | ' |
Total past due | 1,539 | ' |
Current | 18,690 | ' |
Covered loans [Member] | Commercial real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total covered loans | 53,165 | ' |
Greater than 90 days past due | 675 | ' |
Total past due | 675 | ' |
Current | 52,490 | ' |
Covered loans [Member] | Residential mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total covered loans | 209,018 | 263,515 |
Greater than 90 days past due | 3 | 393 |
Total past due | 3 | 393 |
Current | 209,015 | 263,122 |
Covered loans [Member] | Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total covered loans | 52,864 | 99,420 |
Current | 52,864 | 99,420 |
Covered loans [Member] | Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total covered loans | ' | 152,888 |
Greater than 90 days past due | ' | 3,707 |
Total past due | ' | 3,707 |
Current | ' | $149,181 |
Loans_Schedule_of_Credit_Quali
Loans - Schedule of Credit Quality Indicators of Various Classes of Loans - Credit Risk Profile by Internally Assigned Grade (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commercial Non Real Estate Credit Exposure [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | $5,064,222 | $4,433,288 |
Commercial Non Real Estate Credit Exposure [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 4,846,929 | 4,214,260 |
Commercial Non Real Estate Credit Exposure [Member] | Pass-Watch [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 90,848 | 84,828 |
Commercial Non Real Estate Credit Exposure [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 64,624 | 33,043 |
Commercial Non Real Estate Credit Exposure [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 60,063 | 98,124 |
Commercial Non Real Estate Credit Exposure [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 1,758 | 3,033 |
Commercial Non Real Estate Credit Exposure [Member] | Originated loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 4,113,835 | 2,713,385 |
Commercial Non Real Estate Credit Exposure [Member] | Originated loans [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 3,990,318 | 2,610,970 |
Commercial Non Real Estate Credit Exposure [Member] | Originated loans [Member] | Pass-Watch [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 46,734 | 32,393 |
Commercial Non Real Estate Credit Exposure [Member] | Originated loans [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 41,812 | 23,550 |
Commercial Non Real Estate Credit Exposure [Member] | Originated loans [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 34,276 | 46,472 |
Commercial Non Real Estate Credit Exposure [Member] | Originated loans [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 695 | ' |
Commercial Non Real Estate Credit Exposure [Member] | Acquired loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 926,998 | 1,690,643 |
Commercial Non Real Estate Credit Exposure [Member] | Acquired loans [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 846,135 | 1,588,435 |
Commercial Non Real Estate Credit Exposure [Member] | Acquired loans [Member] | Pass-Watch [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 44,105 | 52,361 |
Commercial Non Real Estate Credit Exposure [Member] | Acquired loans [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 19,915 | 6,267 |
Commercial Non Real Estate Credit Exposure [Member] | Acquired loans [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 16,125 | 43,219 |
Commercial Non Real Estate Credit Exposure [Member] | Acquired loans [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 718 | 361 |
Commercial Non Real Estate Credit Exposure [Member] | Covered loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 23,389 | 29,260 |
Commercial Non Real Estate Credit Exposure [Member] | Covered loans [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 10,476 | 14,855 |
Commercial Non Real Estate Credit Exposure [Member] | Covered loans [Member] | Pass-Watch [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 9 | 74 |
Commercial Non Real Estate Credit Exposure [Member] | Covered loans [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 2,897 | 3,226 |
Commercial Non Real Estate Credit Exposure [Member] | Covered loans [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 9,662 | 8,433 |
Commercial Non Real Estate Credit Exposure [Member] | Covered loans [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 345 | 2,672 |
Construction Credit Exposure [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 915,540 | 989,306 |
Construction Credit Exposure [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 822,034 | 807,111 |
Construction Credit Exposure [Member] | Pass-Watch [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 10,950 | 17,726 |
Construction Credit Exposure [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 13,611 | 43,190 |
Construction Credit Exposure [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 61,717 | 101,873 |
Construction Credit Exposure [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 7,228 | 19,406 |
Construction Credit Exposure [Member] | Originated loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 752,381 | 665,673 |
Construction Credit Exposure [Member] | Originated loans [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 709,261 | 557,511 |
Construction Credit Exposure [Member] | Originated loans [Member] | Pass-Watch [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 7,817 | 13,705 |
Construction Credit Exposure [Member] | Originated loans [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 3,926 | 30,522 |
Construction Credit Exposure [Member] | Originated loans [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 31,377 | 63,925 |
Construction Credit Exposure [Member] | Originated loans [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | ' | 10 |
Construction Credit Exposure [Member] | Acquired loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 142,931 | 295,151 |
Construction Credit Exposure [Member] | Acquired loans [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 112,773 | 249,269 |
Construction Credit Exposure [Member] | Acquired loans [Member] | Pass-Watch [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 1,907 | 2,993 |
Construction Credit Exposure [Member] | Acquired loans [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 9,409 | 12,248 |
Construction Credit Exposure [Member] | Acquired loans [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 18,842 | 30,637 |
Construction Credit Exposure [Member] | Acquired loans [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | ' | 4 |
Construction Credit Exposure [Member] | Covered loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 20,228 | 28,482 |
Construction Credit Exposure [Member] | Covered loans [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | ' | 331 |
Construction Credit Exposure [Member] | Covered loans [Member] | Pass-Watch [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 1,226 | 1,028 |
Construction Credit Exposure [Member] | Covered loans [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 276 | 420 |
Construction Credit Exposure [Member] | Covered loans [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 11,498 | 7,311 |
Construction Credit Exposure [Member] | Covered loans [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 7,228 | 19,392 |
Commercial Real Estate Credit Exposure [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 3,042,842 | 2,923,094 |
Commercial Real Estate Credit Exposure [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 2,762,372 | 2,543,763 |
Commercial Real Estate Credit Exposure [Member] | Pass-Watch [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 69,374 | 67,573 |
Commercial Real Estate Credit Exposure [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 37,582 | 54,815 |
Commercial Real Estate Credit Exposure [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 165,626 | 228,148 |
Commercial Real Estate Credit Exposure [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 7,888 | 28,795 |
Commercial Real Estate Credit Exposure [Member] | Originated loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 2,022,529 | 1,548,402 |
Commercial Real Estate Credit Exposure [Member] | Originated loans [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 1,864,116 | 1,353,453 |
Commercial Real Estate Credit Exposure [Member] | Originated loans [Member] | Pass-Watch [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 49,578 | 36,507 |
Commercial Real Estate Credit Exposure [Member] | Originated loans [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 15,785 | 29,912 |
Commercial Real Estate Credit Exposure [Member] | Originated loans [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 93,034 | 128,088 |
Commercial Real Estate Credit Exposure [Member] | Originated loans [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 16 | 442 |
Commercial Real Estate Credit Exposure [Member] | Acquired loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 967,148 | 1,279,546 |
Commercial Real Estate Credit Exposure [Member] | Acquired loans [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 896,578 | 1,173,617 |
Commercial Real Estate Credit Exposure [Member] | Acquired loans [Member] | Pass-Watch [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 9,530 | 16,051 |
Commercial Real Estate Credit Exposure [Member] | Acquired loans [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 19,798 | 21,116 |
Commercial Real Estate Credit Exposure [Member] | Acquired loans [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 41,242 | 68,762 |
Commercial Real Estate Credit Exposure [Member] | Covered loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 53,165 | 95,146 |
Commercial Real Estate Credit Exposure [Member] | Covered loans [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 1,678 | 16,693 |
Commercial Real Estate Credit Exposure [Member] | Covered loans [Member] | Pass-Watch [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 10,266 | 15,015 |
Commercial Real Estate Credit Exposure [Member] | Covered loans [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 1,999 | 3,787 |
Commercial Real Estate Credit Exposure [Member] | Covered loans [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | 31,350 | 31,298 |
Commercial Real Estate Credit Exposure [Member] | Covered loans [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Credit risk profile by internally assigned grade | $7,872 | $28,353 |
Loans_Schedule_of_Credit_Quali1
Loans - Schedule of Credit Quality Indicators of Various Classes of Loans - Credit Risk Profile Based on Payment Activity (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Residential mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | $1,720,614 | $1,577,944 |
Residential mortgages [Member] | Performing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 1,698,359 | 1,559,689 |
Residential mortgages [Member] | Nonperforming [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 22,255 | 18,255 |
Residential mortgages [Member] | Originated loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 1,196,256 | 827,985 |
Residential mortgages [Member] | Originated loans [Member] | Performing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 1,182,266 | 820,281 |
Residential mortgages [Member] | Originated loans [Member] | Nonperforming [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 13,990 | 7,704 |
Residential mortgages [Member] | Acquired loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 315,340 | 486,444 |
Residential mortgages [Member] | Acquired loans [Member] | Performing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 307,078 | 475,893 |
Residential mortgages [Member] | Acquired loans [Member] | Nonperforming [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 8,262 | 10,551 |
Residential mortgages [Member] | Covered loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 209,018 | 263,515 |
Residential mortgages [Member] | Covered loans [Member] | Performing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 209,015 | 263,515 |
Residential mortgages [Member] | Covered loans [Member] | Nonperforming [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 3 | ' |
Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 1,581,597 | 1,654,170 |
Consumer [Member] | Performing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 1,574,685 | 1,645,199 |
Consumer [Member] | Nonperforming [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 6,912 | 8,971 |
Consumer [Member] | Originated loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 1,409,130 | 1,351,776 |
Consumer [Member] | Originated loans [Member] | Performing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 1,404,032 | 1,345,487 |
Consumer [Member] | Originated loans [Member] | Nonperforming [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 5,098 | 6,289 |
Consumer [Member] | Acquired loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 119,603 | 202,974 |
Consumer [Member] | Acquired loans [Member] | Performing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 117,789 | 200,292 |
Consumer [Member] | Acquired loans [Member] | Nonperforming [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 1,814 | 2,682 |
Consumer [Member] | Covered loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 52,864 | 99,420 |
Consumer [Member] | Covered loans [Member] | Performing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | 52,864 | 99,420 |
Consumer [Member] | Covered loans [Member] | Nonperforming [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total | ' | ' |
Loans_Changes_in_Carrying_Amou
Loans - Changes in Carrying Amount of Covered Acquired Loans and Accretable Yield for Loans Receivable (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Covered loans [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Carrying Amount of Loans, Balance at beginning of period | $515,823 | $671,443 |
Carrying Amount of Loans, Additions | ' | ' |
Carrying Amount of Loans, Payments received, net | -189,987 | -200,719 |
Carrying Amount of Loans, Accretion | 32,830 | 45,099 |
Carrying Amount of Loans, Balance at end of period | 358,666 | 515,823 |
Accretable Yield, Balance at beginning of period | 115,594 | 153,137 |
Accretable Yield, Additions | ' | ' |
Accretable Yield, Payments received, net | -1,298 | ' |
Accretable Yield, Accretion | -32,830 | -45,099 |
Accretable Yield, Decrease in expected cash flows based on actual cash flow and changes in cash flow assumptions | -17,433 | -19,326 |
Accretable Yield, Net transfers from (to) nonaccretable difference to accretable yield | 58,682 | 26,882 |
Accretable Yield, Balance at end of period | 122,715 | 115,594 |
Non-Covered [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Carrying Amount of Loans, Balance at beginning of period | 141,201 | 339,452 |
Carrying Amount of Loans, Additions | ' | ' |
Carrying Amount of Loans, Payments received, net | -116,187 | -250,338 |
Carrying Amount of Loans, Accretion | 43,061 | 52,087 |
Carrying Amount of Loans, Balance at end of period | 68,075 | 141,201 |
Accretable Yield, Balance at beginning of period | 203,186 | 130,691 |
Accretable Yield, Additions | ' | ' |
Accretable Yield, Payments received, net | -47,330 | ' |
Accretable Yield, Accretion | -43,061 | -52,087 |
Accretable Yield, Decrease in expected cash flows based on actual cash flow and changes in cash flow assumptions | 3,894 | 23,688 |
Accretable Yield, Net transfers from (to) nonaccretable difference to accretable yield | 14,681 | 100,894 |
Accretable Yield, Balance at end of period | $131,370 | $203,186 |
LongTerm_Debt_LongTerm_Debt_De
Long-Term Debt - Long-Term Debt (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
Subordinated notes payable | $98,011 | $98,011 |
Term note payable | 184,800 | 220,000 |
Other long-term debt | 103,015 | 78,578 |
Total long-term debt | $385,826 | $396,589 |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | |
Whitney Bank [Member] | |||
Debt Instrument [Line Items] | ' | ' | ' |
Term note payable | $184,800,000 | $220,000,000 | ' |
Additional borrowings | ' | 50,000,000 | ' |
Reference rate for loan variable rate | ' | 'LIBOR | ' |
Percentage points added to reference rate | ' | 1.88% | ' |
Debt instrument term loan facility maturity date | ' | 'December 21, 2015 | ' |
Principal payment of term loan | ' | 8,800,000 | ' |
Subordinated notes interest rate | 5.88% | ' | ' |
Percentage of potential amount of reduction from capital | 20.00% | ' | ' |
Debt Offer initiated | ' | ' | 75,000,000 |
Repurchase of subordinated Debt | ' | 52,000,000 | ' |
Debt cost incurred | ' | 5,300,000 | ' |
Non Interest Expense Premium | ' | $5,100,000 | ' |
Borrowings maturity date, starting period | '2015 | ' | ' |
Borrowings maturity date, ending period | '2052 | ' | ' |
Derivatives_Fair_Values_of_Der
Derivatives - Fair Values of Derivative Instruments on Balance Sheet (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount | $763,568 | $720,868 |
Derivative Fair Value Of Asset | 15,579 | 20,093 |
Derivative Fair Value Of Liability | 15,006 | 20,802 |
Derivatives designated as hedging instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount | ' | 140,000 |
Derivative Fair Value Of Liability | ' | 298 |
Derivatives designated as hedging instruments [Member] | Interest rate swaps [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount | ' | 140,000 |
Derivative Fair Value Of Liability | ' | 298 |
Derivatives not designated as hedging instruments [Member] | Interest rate swaps [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount | 650,667 | 547,477 |
Derivative Fair Value Of Asset | 14,147 | 19,448 |
Derivative Fair Value Of Liability | 13,777 | 20,157 |
Derivatives not designated as hedging instruments [Member] | Risk participation agreements [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount | 19,736 | ' |
Derivative Fair Value Of Asset | 2 | ' |
Derivative Fair Value Of Liability | 2 | ' |
Derivatives not designated as hedging instruments [Member] | Forward commitments to sell residential mortgage loans [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount | 45,910 | 115,256 |
Derivative Fair Value Of Asset | 326 | 190 |
Derivative Fair Value Of Liability | 115 | 590 |
Derivatives not designated as hedging instruments [Member] | Interest rate-lock commitments on residential mortgage loans [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount | 25,956 | 58,135 |
Derivative Fair Value Of Asset | 56 | 455 |
Derivative Fair Value Of Liability | 107 | 55 |
Derivatives not designated as hedging instruments [Member] | Foreign exchange forward contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount | 21,299 | ' |
Derivative Fair Value Of Asset | 1,048 | ' |
Derivative Fair Value Of Liability | $1,005 | ' |
Derivatives_Additional_Informa
Derivatives - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Derivative [Line Items] | ' | ' |
Notional amount of derivatives | $763,568,000 | $720,868,000 |
Variable rate term loan agreement maturity | 'June 2013 | ' |
Termination value of derivatives in a net liability position | 9,500,000 | ' |
Collateral obligations for derivative counterparties | 10,900,000 | ' |
Interest rate swaps [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional amount of derivatives | $140,000,000 | ' |
Derivatives_Offsetting_Derivat
Derivatives - Offsetting Derivative Assets and Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ' |
Gross Amounts Recognized | $15,006 | $20,802 |
Gross Amounts Offset in the Statement of Financial Position | ' | ' |
Net Amounts Presented in the Statement of Financial Position | 13,779 | 20,455 |
Gross Amounts Statement of Financial Instruments | 3,462 | ' |
Not Offset in the Financial Position Cash Collateral | 7,406 | 16,839 |
Net Amount | 2,911 | 3,616 |
Gross Amounts Recognized | 15,579 | 20,093 |
Gross Amounts Offset in the Statement of Financial Position | ' | ' |
Net Amounts Presented in the Statement of Financial Position | 14,149 | 19,448 |
Gross Amounts Statement of Financial Instruments | 3,462 | ' |
Not Offset in the Financial Position Cash Collateral | ' | ' |
Net Amount | $10,687 | $19,448 |
Property_and_Equipment_Propert
Property and Equipment - Property and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | $605,144 | $638,456 |
Accumulated depreciation and amortization | -172,798 | -160,592 |
Property and equipment, net | 432,346 | 477,864 |
Land and land Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | 98,064 | 121,013 |
Buildings and leasehold improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | 356,618 | 373,333 |
Furniture, fixtures and equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | 90,948 | 99,288 |
Software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | 51,924 | 28,167 |
Asset under development [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | $7,590 | $16,655 |
Property_and_Equipment_Additio
Property and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property Plant And Equipment [Abstract] | ' | ' | ' |
Depreciation and amortization | $32.10 | $32.90 | $24.60 |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Goodwill And Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Impairment charges | $0 | $0 | $0 | ' |
Carrying amount of goodwill | 625,675,000 | 628,877,000 | 651,162,000 | 61,631,000 |
Reduction in goodwill | 3,200,000 | 22,300,000 | ' | ' |
Customer relationship intangible in connection with repurchase of merchant card processing business | ' | 10,000,000 | ' | ' |
Whitney [Member] | ' | ' | ' | ' |
Goodwill And Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Goodwill in connection with acquisition | ' | ' | $589,500,000 | ' |
Core deposit intangibles [Member] | ' | ' | ' | ' |
Goodwill And Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Weighted-average remaining life of intangible assets | '5 years | ' | ' | ' |
Other Identifiable Intangibles [Member] | ' | ' | ' | ' |
Goodwill And Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Weighted-average remaining life of intangible assets | '4 years | ' | ' | ' |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets - Components of Other Intangible Assets and Related Amortization (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Purchase Value | $244,955 | $247,500 | ' |
Accumulated Amortization | 85,182 | 58,091 | ' |
Carrying Value | 159,773 | 189,409 | ' |
Aggregate amortization expense | 29,470 | 32,067 | 16,551 |
Core deposit intangibles [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Purchase Value | 198,002 | 200,547 | ' |
Accumulated Amortization | 65,357 | 45,832 | ' |
Carrying Value | 132,645 | 154,715 | ' |
Aggregate amortization expense | 21,905 | 23,642 | 14,474 |
Credit card and trust relationships [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Purchase Value | 22,400 | 22,400 | ' |
Accumulated Amortization | 7,800 | 4,980 | ' |
Carrying Value | 14,600 | 17,420 | ' |
Aggregate amortization expense | 2,819 | 3,072 | 1,908 |
Value of insurance business acquired [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Purchase Value | 2,431 | 2,431 | ' |
Accumulated Amortization | 2,232 | 2,084 | ' |
Carrying Value | 199 | 347 | ' |
Aggregate amortization expense | 148 | 158 | 169 |
Non-compete agreements [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Purchase Value | 400 | 400 | ' |
Accumulated Amortization | 300 | 100 | ' |
Carrying Value | 100 | 300 | ' |
Aggregate amortization expense | 200 | 100 | ' |
Trade name [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Purchase Value | 11,722 | 11,722 | ' |
Accumulated Amortization | 6,729 | 4,124 | ' |
Carrying Value | 4,993 | 7,598 | ' |
Aggregate amortization expense | 2,605 | 4,124 | ' |
Merchant processing relationships[Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Purchase Value | 10,000 | 10,000 | ' |
Accumulated Amortization | 2,764 | 971 | ' |
Carrying Value | 7,236 | 9,029 | ' |
Aggregate amortization expense | $1,793 | $971 | ' |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets - Estimated Amortization Expense of Other Intangible Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
2014 | $26,925 | ' |
2015 | 24,363 | ' |
2016 | 19,872 | ' |
2017 | 17,825 | ' |
2018 | 15,773 | ' |
Thereafter | 55,015 | ' |
Estimated amortization expense, total | $159,773 | $189,409 |
Deposits_Maturities_of_Time_De
Deposits - Maturities of Time Deposits (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Time Deposits [Abstract] | ' |
2014 | $1,561,097 |
2015 | 325,173 |
2016 | 130,126 |
2017 | 108,831 |
2018 | 24,767 |
Thereafter | 8,865 |
Total time deposits | $2,158,859 |
Deposits_Additional_Informatio
Deposits - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Billions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Time Deposits [Abstract] | ' | ' |
Time deposits of $100,000 or more | $0.90 | $1.10 |
Balances in deposits | $363 | $194 |
Deposit maturity description | 'Most of these deposits mature on a daily basis. | ' |
ShortTerm_Borrowings_Short_Ter
Short-Term Borrowings - Short Term Borrowings (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Federal funds purchased [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Amount outstanding at period-end | $7,725 | $25,704 |
Weighted average interest rate at period-end | 0.13% | 0.37% |
Weighted average interest rate during the year | 0.22% | 0.22% |
Average daily balance during the year | 32,960 | 30,137 |
Maximum month end balance during the year | 37,320 | 33,964 |
Securities sold under agreements to repurchase [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Amount outstanding at period-end | 650,235 | 613,429 |
Weighted average interest rate at period-end | 0.64% | 0.72% |
Weighted average interest rate during the year | 0.58% | 0.78% |
Average daily balance during the year | 763,259 | 760,938 |
Maximum month end balance during the year | 797,615 | 1,005,014 |
FHLB borrowings [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Weighted average interest rate during the year | 0.18% | 0.16% |
Average daily balance during the year | $9,863 | $32,571 |
ShortTerm_Borrowings_Additiona
Short-Term Borrowings - Additional Information (Detail) (FHLB borrowings [Member], USD $) | Dec. 31, 2013 |
In Billions, unless otherwise specified | |
FHLB borrowings [Member] | ' |
Short-term Debt [Line Items] | ' |
Approved line of credit | $2.60 |
Borrowing capacity | $0.80 |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 0 Months Ended | |||||
In Millions, unless otherwise specified | Apr. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 8-May-13 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 |
Accelerated Share Repurchase Program [Member] | Hancock [Member] | Hancock [Member] | All Other [Member] | |||||
Stockholders Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Shares authorized for repurchase | 5.00% | ' | ' | ' | ' | ' | ' | ' |
Accelerated share repurchase transaction, paid | ' | ' | ' | ' | $115 | ' | ' | ' |
Received from accelerated share repurchase stock settlement | ' | ' | ' | ' | 2.8 | ' | ' | ' |
Percentage of repurchased accelerated share repurchase program | ' | ' | ' | ' | 76.00% | ' | ' | ' |
Effective tax rate | ' | 35.00% | 35.00% | 35.00% | ' | ' | ' | ' |
Minimum risk-based capital ratio | ' | ' | ' | ' | ' | 8.00% | 8.00% | ' |
Minimum Tier 1 capital ratio | ' | ' | ' | ' | ' | 4.00% | 4.00% | ' |
Minimum Tier 1 leverage capital ratio | ' | ' | ' | ' | ' | 3.00% | 3.00% | ' |
Well capitalized Tier 1 leverage capital ratio | ' | ' | ' | ' | ' | 5.00% | ' | 4.00% |
Well capitalized total risk based capital ratio | ' | ' | ' | ' | ' | 10.00% | ' | ' |
Well capitalized Tier 1 risk-based capital ratio | ' | ' | ' | ' | ' | 6.00% | ' | ' |
Stockholders_Equity_Components
Stockholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income (loss), Beginning balance | ($22,925) | ($26,510) | ($619) |
Other comprehensive income before income taxes: | ' | ' | ' |
Net change in unrealized gain (loss) | -22,621 | 8,140 | -42,655 |
Reclassification adjustment for net losses realized and included in earnings | 8,527 | 6,327 | 2,923 |
Amortization of unrealized net gain on securities transferred to held-to-maturity | -6,371 | -8,752 | ' |
Income tax expense (benefit) | -8,011 | 2,130 | -13,841 |
Accumulated other comprehensive income (loss), Ending balance | -35,379 | -22,925 | -26,510 |
Available for Sale Securities [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income (loss), Beginning balance | 38,854 | 60,478 | 27,232 |
Other comprehensive income before income taxes: | ' | ' | ' |
Net change in unrealized gain (loss) | -105,270 | 6,076 | 52,300 |
Transfer of net unrealized gain from AFS to HTM, net of cummulative tax effect | 36,208 | -24,598 | ' |
Reclassification adjustment for net losses realized and included in earnings | -105 | -1,441 | 91 |
Income tax expense (benefit) | -38,576 | 1,661 | 19,145 |
Accumulated other comprehensive income (loss), Ending balance | 8,263 | 38,854 | 60,478 |
Held to Maturity Securities Transferred from AFS [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income (loss), Beginning balance | 19,090 | ' | ' |
Other comprehensive income before income taxes: | ' | ' | ' |
Transfer of net unrealized gain from AFS to HTM, net of cummulative tax effect | -36,208 | 24,598 | ' |
Amortization of unrealized net gain on securities transferred to held-to-maturity | -6,371 | -8,752 | ' |
Income tax expense (benefit) | -2,300 | -3,244 | ' |
Accumulated other comprehensive income (loss), Ending balance | -21,189 | 19,090 | ' |
Employee Benefit Plans [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income (loss), Beginning balance | -80,688 | -86,923 | -27,851 |
Other comprehensive income before income taxes: | ' | ' | ' |
Net change in unrealized gain (loss) | 82,653 | 2,566 | -94,848 |
Reclassification adjustment for net losses realized and included in earnings | 8,331 | 7,457 | 2,832 |
Income tax expense (benefit) | 32,749 | 3,788 | -32,944 |
Accumulated other comprehensive income (loss), Ending balance | -22,453 | -80,688 | -86,923 |
Loss on Effective Cash Flow Hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income (loss), Beginning balance | -181 | -65 | ' |
Other comprehensive income before income taxes: | ' | ' | ' |
Net change in unrealized gain (loss) | -4 | -502 | -107 |
Reclassification adjustment for net losses realized and included in earnings | 301 | 311 | ' |
Income tax expense (benefit) | 116 | -75 | -42 |
Accumulated other comprehensive income (loss), Ending balance | ' | ($181) | ($65) |
Stockholders_Equity_Summary_of
Stockholders' Equity - Summary of Items in Consolidated Income Statements Affected by Amounts Reclassified from Accumulated Other Comprehensive Income (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Gains and losses on sale of AFS securities | $8,527 | $6,327 | $2,923 |
Tax effect | -37 | -504 | ' |
Net of tax | -68 | -937 | ' |
Amortization/accretion of unrealized net gain/loss on securities transferred to HTM | -6,371 | -8,752 | ' |
Tax effect | -2,230 | -3,063 | ' |
Net of tax | -4,141 | -5,689 | ' |
Amortization of defined benefit pension and post-retirement items | 8,331 | 7,457 | ' |
Tax effect | 2,916 | 2,610 | ' |
Net of tax | 5,415 | 4,847 | ' |
Gains and losses on cash flow hedges | 301 | 311 | ' |
Tax effect | 105 | 109 | ' |
Net of tax | 196 | 202 | ' |
Total reclassifications, net of tax | 1,402 | -1,577 | ' |
Available for Sale Securities [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Gains and losses on sale of AFS securities | ($105) | ($1,441) | ' |
Stockholders_Equity_Schedule_o
Stockholders' Equity - Schedule of Compliance with Regulatory Capital Requirements (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Hancock [Member] | ' | ' |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | $1,877,832 | $1,881,558 |
Actual, Ratio % | 13.11% | 14.28% |
Required for Minimum Capital Adequacy, Amount | 1,146,061 | 1,053,781 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | ' |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,685,058 | 1,666,042 |
Actual, Ratio % | 11.76% | 12.65% |
Required for Minimum Capital Adequacy, Amount | 573,030 | 526,890 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | ' |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 1,685,058 | 1,666,042 |
Actual, Ratio % | 9.34% | 9.10% |
Required for Minimum Capital Adequacy, Amount | 541,066 | 549,185 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | ' |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,877,832 | 1,881,558 |
Actual, Ratio % | 13.11% | 14.28% |
Required for Minimum Capital Adequacy, Amount | 1,146,061 | 1,053,781 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | ' |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,685,058 | 1,666,042 |
Actual, Ratio % | 11.76% | 12.65% |
Required for Minimum Capital Adequacy, Amount | 573,030 | 526,890 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | ' |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 1,685,058 | 1,666,042 |
Actual, Ratio % | 9.34% | 9.10% |
Required for Minimum Capital Adequacy, Amount | 541,066 | 549,185 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | ' |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,877,832 | 1,881,558 |
Actual, Ratio % | 13.11% | 14.28% |
Required for Minimum Capital Adequacy, Amount | 1,146,061 | 1,053,781 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | ' |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,685,058 | 1,666,042 |
Actual, Ratio % | 11.76% | 12.65% |
Required for Minimum Capital Adequacy, Amount | 573,030 | 526,890 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | ' |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 1,685,058 | 1,666,042 |
Actual, Ratio % | 9.34% | 9.10% |
Required for Minimum Capital Adequacy, Amount | 541,066 | 549,185 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | ' |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,877,832 | 1,881,558 |
Actual, Ratio % | 13.11% | 14.28% |
Required for Minimum Capital Adequacy, Amount | 1,146,061 | 1,053,781 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | ' |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,685,058 | 1,666,042 |
Actual, Ratio % | 11.76% | 12.65% |
Required for Minimum Capital Adequacy, Amount | 573,030 | 526,890 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | ' |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 1,685,058 | 1,666,042 |
Actual, Ratio % | 9.34% | 9.10% |
Required for Minimum Capital Adequacy, Amount | 541,066 | 549,185 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | ' |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,877,832 | 1,881,558 |
Actual, Ratio % | 13.11% | 14.28% |
Required for Minimum Capital Adequacy, Amount | 1,146,061 | 1,053,781 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | ' |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,685,058 | 1,666,042 |
Actual, Ratio % | 11.76% | 12.65% |
Required for Minimum Capital Adequacy, Amount | 573,030 | 526,890 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | ' |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 1,685,058 | 1,666,042 |
Actual, Ratio % | 9.34% | 9.10% |
Required for Minimum Capital Adequacy, Amount | 541,066 | 549,185 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | ' |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,877,832 | 1,881,558 |
Actual, Ratio % | 13.11% | 14.28% |
Required for Minimum Capital Adequacy, Amount | 1,146,061 | 1,053,781 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | ' |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,685,058 | 1,666,042 |
Actual, Ratio % | 11.76% | 12.65% |
Required for Minimum Capital Adequacy, Amount | 573,030 | 526,890 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | ' |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 1,685,058 | 1,666,042 |
Actual, Ratio % | 9.34% | 9.10% |
Required for Minimum Capital Adequacy, Amount | 541,066 | 549,185 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | ' |
Hancock Bank [Member] | ' | ' |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 636,871 | 643,202 |
Actual, Ratio % | 13.48% | 14.39% |
Required for Minimum Capital Adequacy, Amount | 378,093 | 357,687 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 472,617 | 447,109 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 577,280 | 586,623 |
Actual, Ratio % | 12.21% | 13.12% |
Required for Minimum Capital Adequacy, Amount | 189,047 | 178,843 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 283,570 | 268,265 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | 6.00% |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 577,280 | 586,623 |
Actual, Ratio % | 9.01% | 9.13% |
Required for Minimum Capital Adequacy, Amount | 192,137 | 192,733 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 320,228 | 321,221 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | 5.00% |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 636,871 | 643,202 |
Actual, Ratio % | 13.48% | 14.39% |
Required for Minimum Capital Adequacy, Amount | 378,093 | 357,687 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 472,617 | 447,109 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 577,280 | 586,623 |
Actual, Ratio % | 12.21% | 13.12% |
Required for Minimum Capital Adequacy, Amount | 189,047 | 178,843 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 283,570 | 268,265 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | 6.00% |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 577,280 | 586,623 |
Actual, Ratio % | 9.01% | 9.13% |
Required for Minimum Capital Adequacy, Amount | 192,137 | 192,733 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 320,228 | 321,221 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | 5.00% |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 636,871 | 643,202 |
Actual, Ratio % | 13.48% | 14.39% |
Required for Minimum Capital Adequacy, Amount | 378,093 | 357,687 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 472,617 | 447,109 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 577,280 | 586,623 |
Actual, Ratio % | 12.21% | 13.12% |
Required for Minimum Capital Adequacy, Amount | 189,047 | 178,843 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 283,570 | 268,265 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | 6.00% |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 577,280 | 586,623 |
Actual, Ratio % | 9.01% | 9.13% |
Required for Minimum Capital Adequacy, Amount | 192,137 | 192,733 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 320,228 | 321,221 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | 5.00% |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 636,871 | 643,202 |
Actual, Ratio % | 13.48% | 14.39% |
Required for Minimum Capital Adequacy, Amount | 378,093 | 357,687 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 472,617 | 447,109 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 577,280 | 586,623 |
Actual, Ratio % | 12.21% | 13.12% |
Required for Minimum Capital Adequacy, Amount | 189,047 | 178,843 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 283,570 | 268,265 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | 6.00% |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 577,280 | 586,623 |
Actual, Ratio % | 9.01% | 9.13% |
Required for Minimum Capital Adequacy, Amount | 192,137 | 192,733 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 320,228 | 321,221 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | 5.00% |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 636,871 | 643,202 |
Actual, Ratio % | 13.48% | 14.39% |
Required for Minimum Capital Adequacy, Amount | 378,093 | 357,687 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 472,617 | 447,109 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 577,280 | 586,623 |
Actual, Ratio % | 12.21% | 13.12% |
Required for Minimum Capital Adequacy, Amount | 189,047 | 178,843 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 283,570 | 268,265 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | 6.00% |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 577,280 | 586,623 |
Actual, Ratio % | 9.01% | 9.13% |
Required for Minimum Capital Adequacy, Amount | 192,137 | 192,733 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 320,228 | 321,221 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | 5.00% |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 636,871 | 643,202 |
Actual, Ratio % | 13.48% | 14.39% |
Required for Minimum Capital Adequacy, Amount | 378,093 | 357,687 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 472,617 | 447,109 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 577,280 | 586,623 |
Actual, Ratio % | 12.21% | 13.12% |
Required for Minimum Capital Adequacy, Amount | 189,047 | 178,843 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 283,570 | 268,265 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | 6.00% |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 577,280 | 586,623 |
Actual, Ratio % | 9.01% | 9.13% |
Required for Minimum Capital Adequacy, Amount | 192,137 | 192,733 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 320,228 | 321,221 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | 5.00% |
Whitney Bank [Member] | ' | ' |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,187,699 | 1,242,608 |
Actual, Ratio % | 12.25% | 14.25% |
Required for Minimum Capital Adequacy, Amount | 775,709 | 697,528 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 969,636 | 871,910 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,088,339 | 1,122,341 |
Actual, Ratio % | 11.22% | 12.87% |
Required for Minimum Capital Adequacy, Amount | 387,854 | 348,764 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 581,782 | 523,146 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | 6.00% |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 1,088,339 | 1,122,341 |
Actual, Ratio % | 9.02% | 9.24% |
Required for Minimum Capital Adequacy, Amount | 361,878 | 364,540 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 603,129 | 607,567 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | 5.00% |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,187,699 | 1,242,608 |
Actual, Ratio % | 12.25% | 14.25% |
Required for Minimum Capital Adequacy, Amount | 775,709 | 697,528 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 969,636 | 871,910 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,088,339 | 1,122,341 |
Actual, Ratio % | 11.22% | 12.87% |
Required for Minimum Capital Adequacy, Amount | 387,854 | 348,764 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 581,782 | 523,146 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | 6.00% |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 1,088,339 | 1,122,341 |
Actual, Ratio % | 9.02% | 9.24% |
Required for Minimum Capital Adequacy, Amount | 361,878 | 364,540 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 603,129 | 607,567 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | 5.00% |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,187,699 | 1,242,608 |
Actual, Ratio % | 12.25% | 14.25% |
Required for Minimum Capital Adequacy, Amount | 775,709 | 697,528 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 969,636 | 871,910 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,088,339 | 1,122,341 |
Actual, Ratio % | 11.22% | 12.87% |
Required for Minimum Capital Adequacy, Amount | 387,854 | 348,764 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 581,782 | 523,146 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | 6.00% |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 1,088,339 | 1,122,341 |
Actual, Ratio % | 9.02% | 9.24% |
Required for Minimum Capital Adequacy, Amount | 361,878 | 364,540 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 603,129 | 607,567 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | 5.00% |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,187,699 | 1,242,608 |
Actual, Ratio % | 12.25% | 14.25% |
Required for Minimum Capital Adequacy, Amount | 775,709 | 697,528 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 969,636 | 871,910 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,088,339 | 1,122,341 |
Actual, Ratio % | 11.22% | 12.87% |
Required for Minimum Capital Adequacy, Amount | 387,854 | 348,764 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 581,782 | 523,146 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | 6.00% |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 1,088,339 | 1,122,341 |
Actual, Ratio % | 9.02% | 9.24% |
Required for Minimum Capital Adequacy, Amount | 361,878 | 364,540 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 603,129 | 607,567 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | 5.00% |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,187,699 | 1,242,608 |
Actual, Ratio % | 12.25% | 14.25% |
Required for Minimum Capital Adequacy, Amount | 775,709 | 697,528 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 969,636 | 871,910 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,088,339 | 1,122,341 |
Actual, Ratio % | 11.22% | 12.87% |
Required for Minimum Capital Adequacy, Amount | 387,854 | 348,764 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 581,782 | 523,146 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | 6.00% |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 1,088,339 | 1,122,341 |
Actual, Ratio % | 9.02% | 9.24% |
Required for Minimum Capital Adequacy, Amount | 361,878 | 364,540 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 603,129 | 607,567 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | 5.00% |
Total capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,187,699 | 1,242,608 |
Actual, Ratio % | 12.25% | 14.25% |
Required for Minimum Capital Adequacy, Amount | 775,709 | 697,528 |
Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 969,636 | 871,910 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets) | ' | ' |
Actual, Amount | 1,088,339 | 1,122,341 |
Actual, Ratio % | 11.22% | 12.87% |
Required for Minimum Capital Adequacy, Amount | 387,854 | 348,764 |
Required for Minimum Capital Adequacy, Ratio % | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 581,782 | 523,146 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 6.00% | 6.00% |
Tier 1 leverage capital | ' | ' |
Actual, Amount | 1,088,339 | 1,122,341 |
Actual, Ratio % | 9.02% | 9.24% |
Required for Minimum Capital Adequacy, Amount | 361,878 | 364,540 |
Required for Minimum Capital Adequacy, Ratio % | 3.00% | 3.00% |
To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | $603,129 | $607,567 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | 5.00% |
Retirement_Benefit_Plans_Compo
Retirement Benefit Plans - Components of Defined Benefit Obligation (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Projected benefit obligation | $412,608 | $437,104 | ' |
Accumulated benefit obligation | 379,607 | 395,543 | ' |
Fair value of plan assets | 437,829 | 379,133 | ' |
Benefit obligation, end of year | 412,608 | 437,104 | ' |
Fair value of plan assets, end of year | 437,829 | 379,133 | ' |
Other Post-retirement Benefits [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefit obligation at beginning of year | 37,831 | 34,107 | ' |
Projected benefit obligation | 31,592 | 37,831 | ' |
Service cost | 215 | 192 | ' |
Interest cost | 1,317 | 1,337 | ' |
Plan participants' contributions | 1,355 | 1,419 | ' |
Actuarial loss (gain) | -5,563 | 4,435 | ' |
Benefit payments | -3,563 | -3,659 | ' |
Benefit obligation, end of year | 31,592 | 37,831 | ' |
Employer contributions | 2,208 | 2,240 | ' |
Plan participants' contributions | 1,355 | 1,419 | ' |
Benefit payments | -3,563 | -3,659 | ' |
Funded status at end of year - net asset/(liability) | -31,592 | -37,831 | ' |
Unrecognized loss at beginning of year | 14,513 | 10,996 | ' |
Amount of (loss)/gain recognized during the year | -1,761 | -918 | ' |
Net actuarial loss/(gain) | -5,563 | 4,435 | ' |
Unrecognized loss at end of year | 7,189 | 14,513 | ' |
Pension Benefits [Member] | Qualified [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefit obligation at beginning of year | 420,239 | 399,508 | ' |
Projected benefit obligation | 397,285 | 420,239 | 399,508 |
Service cost | 16,118 | 12,940 | 8,440 |
Interest cost | 16,057 | 16,518 | 12,117 |
Fair value of plan assets | 437,829 | 379,133 | 328,060 |
Actuarial loss (gain) | -40,551 | 4,131 | ' |
Benefit payments | -14,578 | -12,858 | ' |
Benefit obligation, end of year | 397,285 | 420,239 | 399,508 |
Fair value of plan assets at beginning of year | 379,133 | 328,060 | ' |
Actual return on plan assets | 63,695 | 38,464 | ' |
Employer contributions | 10,000 | 26,000 | ' |
Benefit payments | -14,578 | -12,858 | ' |
Expenses | -421 | -533 | ' |
Fair value of plan assets, end of year | 437,829 | 379,133 | 328,060 |
Funded status at end of year - net asset/(liability) | 40,544 | -41,106 | ' |
Unrecognized loss at beginning of year | 108,852 | 123,780 | ' |
Amount of (loss)/gain recognized during the year | -6,516 | -6,526 | -2,343 |
Net actuarial loss/(gain) | -75,898 | -8,402 | 87,313 |
Unrecognized loss at end of year | 26,438 | 108,852 | 123,780 |
Pension Benefits [Member] | Non Qualified [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefit obligation at beginning of year | 16,865 | 15,934 | ' |
Projected benefit obligation | 15,323 | 16,865 | 15,934 |
Service cost | ' | 49 | 27 |
Interest cost | 621 | 688 | 438 |
Actuarial loss (gain) | -1,040 | 1,401 | ' |
Benefit payments | -1,123 | -1,207 | ' |
Benefit obligation, end of year | 15,323 | 16,865 | 15,934 |
Employer contributions | 1,123 | 1,207 | ' |
Benefit payments | -1,123 | -1,207 | ' |
Funded status at end of year - net asset/(liability) | -15,323 | -16,865 | ' |
Unrecognized loss at beginning of year | 2,942 | 1,597 | ' |
Amount of (loss)/gain recognized during the year | -54 | -56 | ' |
Net actuarial loss/(gain) | -1,041 | 1,401 | 1,597 |
Unrecognized loss at end of year | $1,847 | $2,942 | $1,597 |
Retirement_Benefit_Plans_Compo1
Retirement Benefit Plans - Components of Net Periodic Benefit Cost (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Hancock Plans [Member] | ' | ' | ' |
Defined Benefit Plan Net Periodic Benefit Cost [Line Items] | ' | ' | ' |
Total recognized in net periodic benefit cost and other comprehensive income | ($4,031) | $5,964 | $7,166 |
Other Post-retirement Benefits [Member] | ' | ' | ' |
Defined Benefit Plan Net Periodic Benefit Cost [Line Items] | ' | ' | ' |
Service cost | 215 | 192 | ' |
Interest cost | 1,317 | 1,337 | ' |
Amount of loss recognized during the year | -1,761 | -918 | ' |
Net actuarial loss/(gain) | -5,563 | 4,435 | ' |
Other Post-retirement Benefits [Member] | Hancock Plans [Member] | ' | ' | ' |
Defined Benefit Plan Net Periodic Benefit Cost [Line Items] | ' | ' | ' |
Service cost | 215 | 192 | 137 |
Interest cost | 1,317 | 1,337 | 1,091 |
Amortization of net loss | 1,761 | 966 | 538 |
Amortization of prior service cost | ' | -48 | -48 |
Net periodic benefit cost | 3,293 | 2,447 | 1,718 |
Amount of loss recognized during the year | -1,761 | -966 | -538 |
Net actuarial (gain)/loss | -5,563 | 4,435 | 5,938 |
Amortization of prior service cost | ' | 48 | 48 |
Total recognized in other comprehensive income | -7,324 | 3,517 | 5,448 |
Qualified [Member] | Pension Benefits [Member] | ' | ' | ' |
Defined Benefit Plan Net Periodic Benefit Cost [Line Items] | ' | ' | ' |
Service cost | 16,118 | 12,940 | 8,440 |
Interest cost | 16,057 | 16,518 | 12,117 |
Expected return on plan assets | -27,928 | -25,398 | -15,118 |
Recognized net amortization and deferral | 6,516 | 6,526 | 2,343 |
Net periodic benefit cost | 10,763 | 10,586 | 7,782 |
Amount of loss recognized during the year | -6,516 | -6,526 | -2,343 |
Net actuarial loss/(gain) | -75,898 | -8,402 | 87,313 |
Total recognized in other comprehensive income | -82,414 | -14,928 | 84,970 |
Total recognized in net periodic benefit cost and other comprehensive income | -71,651 | -4,342 | 92,752 |
Discount rate for benefit obligations | 4.73% | 3.82% | 4.32% |
Discount rate for net periodic benefit cost | 3.87% | 4.32% | 5.39% |
Expected long-term return on plan assets | 7.50% | 7.50% | 7.50% |
Rate of compensation increase | 4.00% | 3.73% | 3.72% |
Non Qualified [Member] | Pension Benefits [Member] | ' | ' | ' |
Defined Benefit Plan Net Periodic Benefit Cost [Line Items] | ' | ' | ' |
Service cost | ' | 49 | 27 |
Interest cost | 621 | 688 | 438 |
Recognized net amortization and deferral | 54 | 56 | ' |
Net periodic benefit cost | 675 | 793 | 465 |
Amount of loss recognized during the year | -54 | -56 | ' |
Net actuarial loss/(gain) | -1,041 | 1,401 | 1,597 |
Total recognized in other comprehensive income | -1,095 | 1,345 | 1,597 |
Total recognized in net periodic benefit cost and other comprehensive income | ($420) | $2,138 | $2,062 |
Discount rate for benefit obligations | 4.73% | 3.87% | 4.31% |
Discount rate for net periodic benefit cost | 3.87% | 4.31% | 5.35% |
Rate of compensation increase | 4.00% | 3.58% | 3.58% |
Retirement_Benefit_Plans_Expec
Retirement Benefit Plans - Expected Future Plan Benefit Payments (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Other Post-retirement Benefits [Member] | ' |
Schedule of Expected Future Pension Benefit Payment [Line Items] | ' |
2014 | $2,091 |
2015 | 1,973 |
2016 | 1,918 |
2017 | 1,785 |
2018 | 1,720 |
2019-2023 | 8,680 |
Total | 18,167 |
Pension Benefits [Member] | ' |
Schedule of Expected Future Pension Benefit Payment [Line Items] | ' |
2014 | 17,182 |
2015 | 17,985 |
2016 | 18,784 |
2017 | 19,520 |
2018 | 20,220 |
2019-2023 | 110,634 |
Total | 204,325 |
Pension Benefits [Member] | Qualified [Member] | ' |
Schedule of Expected Future Pension Benefit Payment [Line Items] | ' |
2014 | 16,065 |
2015 | 16,868 |
2016 | 17,656 |
2017 | 18,371 |
2018 | 19,076 |
2019-2023 | 105,048 |
Total | 193,084 |
Pension Benefits [Member] | Non Qualified [Member] | ' |
Schedule of Expected Future Pension Benefit Payment [Line Items] | ' |
2014 | 1,117 |
2015 | 1,117 |
2016 | 1,128 |
2017 | 1,149 |
2018 | 1,144 |
2019-2023 | 5,586 |
Total | $11,241 |
RetirementBenefit_Plans_Fair_V
RetirementBenefit Plans - Fair Values Measurements of Pension Plan Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | $437,829 | $379,133 |
Cash and equivalents [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 5,683 | 4,850 |
Hancock Horizon Government Money Market Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 9,531 | 1,596 |
Total cash and cash-equivalents [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 15,214 | 6,446 |
U.S. government and agency securities [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 21,485 | 54,246 |
Municipal securities [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 40,476 | ' |
Hancock Horizon Strategic Income Bond Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 59,674 | 49,192 |
Corporate debt [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 43,440 | 39,273 |
Total fixed income [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 165,075 | 142,711 |
Hancock Horizon Quantitative Long/ Short Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 6,593 | 7,481 |
Hancock Horizon Diversified International Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 26,072 | 32,984 |
Hancock Horizon Burkenroad Small Cap Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 4,108 | 3,863 |
Hancock Horizon Growth Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 27,847 | 27,332 |
Hancock Horizon Diversified Value Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 34,216 | 28,543 |
Hancock Horizon Diversified Income Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 8,758 | ' |
Equity securities [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 149,946 | 129,773 |
Total Equity [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 257,540 | 229,976 |
Level 1 [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 343,733 | 296,019 |
Level 1 [Member] | Cash and equivalents [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 5,682 | 4,850 |
Level 1 [Member] | Hancock Horizon Government Money Market Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 9,531 | 1,596 |
Level 1 [Member] | Total cash and cash-equivalents [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 15,213 | 6,446 |
Level 1 [Member] | U.S. government and agency securities [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 4,383 | 10,405 |
Level 1 [Member] | Hancock Horizon Strategic Income Bond Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 59,674 | 49,192 |
Level 1 [Member] | Corporate debt [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 6,923 | ' |
Level 1 [Member] | Total fixed income [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 70,980 | 59,597 |
Level 1 [Member] | Hancock Horizon Quantitative Long/ Short Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 6,593 | 7,481 |
Level 1 [Member] | Hancock Horizon Diversified International Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 26,072 | 32,984 |
Level 1 [Member] | Hancock Horizon Burkenroad Small Cap Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 4,108 | 3,863 |
Level 1 [Member] | Hancock Horizon Growth Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 27,847 | 27,332 |
Level 1 [Member] | Hancock Horizon Diversified Value Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 34,216 | 28,543 |
Level 1 [Member] | Hancock Horizon Diversified Income Fund [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 8,758 | ' |
Level 1 [Member] | Equity securities [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 149,946 | 129,773 |
Level 1 [Member] | Total Equity [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 257,540 | 229,976 |
Level 2 [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 94,095 | 83,114 |
Level 2 [Member] | U.S. government and agency securities [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 17,102 | 43,841 |
Level 2 [Member] | Municipal securities [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 40,476 | ' |
Level 2 [Member] | Corporate debt [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 36,517 | 39,273 |
Level 2 [Member] | Total fixed income [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 94,095 | 83,114 |
Level 3 [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 0 | ' |
Level 3 [Member] | Cash and equivalents [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | 0 | ' |
Level 3 [Member] | Total cash and cash-equivalents [Member] | ' | ' |
Fair Value Of Pension Plan Assets [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Retirement_Benefit_Plans_Weigh
Retirement Benefit Plans - Weighted Average Asset Allocations and Target Allocations (Detail) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Defined Benefit Plan Assets Target Allocations [Line Items] | ' | ' |
Plan Assets | 100.00% | 100.00% |
Equity securities [Member] | ' | ' |
Defined Benefit Plan Assets Target Allocations [Line Items] | ' | ' |
Plan Assets | 59.00% | 61.00% |
Target Allocation, minimum | 30.00% | 40.00% |
Target Allocation, maximum | 70.00% | 70.00% |
Fixed income securities [Member] | ' | ' |
Defined Benefit Plan Assets Target Allocations [Line Items] | ' | ' |
Plan Assets | 38.00% | 37.00% |
Target Allocation, minimum | 25.00% | 30.00% |
Target Allocation, maximum | 65.00% | 60.00% |
Real Assets [Member] | ' | ' |
Defined Benefit Plan Assets Target Allocations [Line Items] | ' | ' |
Plan Assets | 0.00% | 0.00% |
Target Allocation, minimum | 0.00% | ' |
Target Allocation, maximum | 10.00% | ' |
Cash equivalents [Member] | ' | ' |
Defined Benefit Plan Assets Target Allocations [Line Items] | ' | ' |
Plan Assets | 3.00% | 2.00% |
Target Allocation, minimum | 0.00% | 0.00% |
Target Allocation, maximum | 5.00% | 10.00% |
Retirement_Benefit_Plans_Addit
Retirement Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Period of employment required to cover employee stock purchase plan | '60 days | ' |
Percentage of compensation saved by participant for which employer contributes hundred percent | 100.00% | ' |
Employer matching contribution for first one percent of compensation saved | 1.00% | ' |
Percentage of compensation saved by participant for which employer contributes fifty percent | 50.00% | ' |
Employer matching contribution for next five percent of compensation saved | 5.00% | ' |
Initial saving rate for employees not participating in plan | 3.00% | ' |
Weighted average discount rates used for determination of the projected post retirement benefit obligation | 4.58% | 3.69% |
Hancock 401k Plan [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Percentage of savings for calculating each employee participation in plan | 50.00% | ' |
Maximum percentage of compensation on base percentage for participating in plan | 6.00% | ' |
Contributions | 7,000,000 | 6,100,000 |
Whitney 401K Plan [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Percentage of savings for calculating each employee participation in plan | 100.00% | ' |
Maximum percentage of compensation on base percentage for participating in plan | 4.00% | ' |
Discretionary profit-sharing contribution by employer | ' | 2,900,000 |
Minimum age for increase in per capita cost of health care benefit | '65 years | ' |
Hancock Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Year of service who have reached 55 years of age | '10 years | ' |
Year of service who have reached 65 years of age | '5 years | ' |
Minimum age for increase in per capita cost of health care benefit | '55 years | ' |
Increase (decrease) in pre- and post-medicare age health costs rate | 7.00% | ' |
Decrease in ultimate rate over a period of time | 5.00% | ' |
Retirement_Benefit_Plans_Assum
Retirement Benefit Plans - Assumed Health Care Cost Trend Rates (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Schedule Of Sale Of Subsidiary [Abstract] | ' |
Aggregated service and interest cost, 1% Decrease in Rates | $1,325 |
Postretirement benefit obligation, 1% Decrease in Rates | 28,112 |
Aggregated service and interest cost, Assumed Rates | 1,531 |
Postretirement benefit obligation, Assumed Rates | 31,592 |
Aggregated service and interest cost, 1% Increase in Rates | 1,785 |
Postretirement benefit obligation, 1% Increase in Rates | $35,791 |
ShareBased_Payment_Arrangement2
Share-Based Payment Arrangements - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Bank | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Shares available for future issuance under equity compensation plans | 1,800,000 | ' | ' |
Recognized stock-based compensation | $13.10 | $11 | $7.20 |
Recognized tax benefit related to the share-based compensation | 4.6 | 3.9 | 2.5 |
Percentage where a option price is equal to market price | 110.00% | ' | ' |
Term of option award vest, contractual term | '10 Year | ' | ' |
Term of option award vest for continuous service | '5 years | ' | ' |
Intrinsic value of options exercised | 0.6 | 0.8 | 0.3 |
Weighted-average grant-date fair values of options granted | $0 | $8.43 | $8.64 |
Unrecognized compensation cost | 39.7 | ' | ' |
Weighted-average period in years | '3 years 8 months 12 days | ' | ' |
Total fair value of shares vested | $3.20 | $2.30 | ' |
Shareholder return period | '3 years | ' | ' |
Number of peer group of regional banks | 50 | ' | ' |
Performance Share Award [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Shares granted to key members of executives and senior management | 67,533 | ' | ' |
Fair Value of shares granted | $32.84 | ' | ' |
Percentage of maximum number of shares earned of target award | 200.00% | ' | ' |
2005 Long Term Incentive Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of common shares can be granted under long term incentive Plan | 5,000,000 | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Maximum Annual Grant Available | 2.00% | ' | ' |
ShareBased_Payment_Arrangement3
Share-Based Payment Arrangements - Schedule of Option Activity Under Stock Option Plans (Detail) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Number of Shares, Outstanding at Beginning Balance | 1,555,296 |
Number of Shares, Granted | ' |
Number of Shares, Exercised | -96,428 |
Number of Shares, Forfeited or expired | -126,212 |
Number of Shares, Outstanding at Ending Balance | 1,332,656 |
Number of Shares, Exercisable at Ending Balance | 1,017,709 |
Weighted- Average Exercise Price, Outstanding at Beginning Balance | $38.57 |
Weighted- Average Exercise Price, Granted | ' |
Weighted- Average Exercise Price, Exercised | $28.35 |
Weighted- Average Exercise Price, Forfeited or expired | $43.48 |
Weighted- Average Exercise Price, Outstanding at Ending Balance | $38.85 |
Weighted- Average Exercise Price, Exercisable at Ending Balance | $41.28 |
Weighted-Average Remaining Contractual Term, Outstanding at Ending Balance (in years) | '4 years 8 months 12 days |
Weighted-Average Remaining Contractual Term, Exercisable at Ending Balance (in years) | '3 years 9 months 18 days |
Aggregate Intrinsic Value, Outstanding at Ending Balance | $3,840 |
Aggregate Intrinsic Value, Exercisable at Ending Balance | $2,005 |
ShareBased_Payment_Arrangement4
Share-Based Payment Arrangements - Stock Options, Valuation Assumption (Detail) | 12 Months Ended | |
Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Expected volatility | 38.64% | 38.90% |
Expected dividends | 3.23% | 3.20% |
Expected term (in years) | '6 years 6 months 29 days | '6 years 4 months 17 days |
Risk-free rates | 1.78% | 1.99% |
ShareBased_Payment_Arrangement5
Share-Based Payment Arrangements - Schedule of Nonvested Restricted and Performance Shares (Detail) (Restricted Stock and Performance Shares [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Restricted Stock and Performance Shares [Member] | ' |
Nonvested Share Activity [Line Items] | ' |
Number of Shares, Nonvested at Beginning Balance | 1,683,146 |
Number of Shares, Granted | 558,738 |
Number of Shares, Vested | -95,247 |
Number of Shares, Cancelled/Forfeited | -164,817 |
Number of Shares, Nonvested at Ending Balance | 1,981,820 |
Weighted-Average Grant-Date Fair Value, Nonvested at Beginning Balance | $31.56 |
Weighted-Average Grant-Date Fair Value, Granted | $33.15 |
Weighted-Average Grant-Date Fair Value, Vested | $37.66 |
Weighted-Average Grant-Date Fair Value, Cancelled/Forfeited | $31.14 |
Weighted-Average Grant-Date Fair Value, Nonvested at Ending Balance | $31.75 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Available for sale debt securities | $1,421,772 | $2,048,442 |
Derivative assets | 15,579 | 20,093 |
Total recurring fair value measurements - assets | 1,437,351 | 2,068,535 |
Derivative liabilities | 15,006 | 21,100 |
Total recurring fair value measurements - liabilities | 15,006 | 21,100 |
U.S. Treasury and government agency securities [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Available for sale debt securities | 505 | 18,265 |
Municipal obligations [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Available for sale debt securities | 35,961 | 50,165 |
Corporate debt [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Available for sale debt securities | 3,500 | 2,250 |
Mortgage-backed securities [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Available for sale debt securities | 1,276,958 | 1,774,406 |
Collateralized mortgage obligations [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Available for sale debt securities | 94,125 | 198,077 |
Equity securities [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Available for sale debt securities | 10,723 | 5,279 |
Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Available for sale debt securities | 14,728 | 25,794 |
Total recurring fair value measurements - assets | 14,728 | 25,794 |
Level 1 [Member] | U.S. Treasury and government agency securities [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Available for sale debt securities | 505 | 18,265 |
Level 1 [Member] | Corporate debt [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Available for sale debt securities | 3,500 | 2,250 |
Level 1 [Member] | Equity securities [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Available for sale debt securities | 10,723 | 5,279 |
Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Available for sale debt securities | 1,407,044 | 2,022,648 |
Derivative assets | 15,579 | 20,093 |
Total recurring fair value measurements - assets | 1,422,623 | 2,042,741 |
Derivative liabilities | 15,006 | 21,100 |
Total recurring fair value measurements - liabilities | 15,006 | 21,100 |
Level 2 [Member] | Municipal obligations [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Available for sale debt securities | 35,961 | 50,165 |
Level 2 [Member] | Mortgage-backed securities [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Available for sale debt securities | 1,276,958 | 1,774,406 |
Level 2 [Member] | Collateralized mortgage obligations [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Available for sale debt securities | $94,125 | $198,077 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Minimum [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Period of Investment | '2 years |
Maximum [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Period of Investment | '5 years |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments - Schedule of Financial Assets Measured at Fair Value on Nonrecurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Collateral dependent impaired loans | $24,392 | $72,694 |
Other real estate owned | 25,525 | 43,803 |
Total nonrecurring fair value measurements | 49,917 | 116,497 |
Level 1 [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Collateral dependent impaired loans | ' | ' |
Other real estate owned | ' | ' |
Total nonrecurring fair value measurements | ' | ' |
Level 2 [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Collateral dependent impaired loans | 24,392 | 72,694 |
Total nonrecurring fair value measurements | 24,392 | 72,694 |
Level 3 [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Other real estate owned | 25,525 | 43,803 |
Total nonrecurring fair value measurements | $25,525 | $43,803 |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments - Schedule of Estimated Fair Values of Financial Instruments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities | $1,421,772 | $2,048,442 |
Held to maturity securities | 2,576,584 | 1,710,465 |
Loans, net | 12,191,191 | 11,441,631 |
Loans held for sale | 24,515 | 50,605 |
Derivative financial instruments | 15,579 | 20,093 |
Deposits | 15,360,516 | 15,744,188 |
Long-term debt | 385,826 | 396,589 |
Derivative financial instruments | 15,006 | 21,100 |
Derivative financial instruments | 15,006 | 21,100 |
Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash, interest-bearing bank deposits, and federal funds sold | 617,280 | 1,948,679 |
Available for sale securities | 14,728 | 25,794 |
Held to maturity securities | 100,316 | ' |
Accrued interest receivable | 42,977 | 45,616 |
Federal funds purchased | 7,725 | 25,704 |
Securities sold under agreements to repurchase | 650,235 | 613,429 |
Accrued interest payable | 4,353 | 4,814 |
Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities | 1,407,044 | 2,022,648 |
Held to maturity securities | 2,476,268 | 1,710,465 |
Loans, net | 24,392 | 72,694 |
Loans held for sale | 24,515 | 50,605 |
Derivative financial instruments | 15,579 | 20,093 |
Long-term debt | 385,557 | 410,791 |
Derivative financial instruments | 15,006 | 21,100 |
Derivative financial instruments | 15,006 | 21,100 |
Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans, net | 12,023,330 | 11,494,409 |
Deposits | 15,352,024 | 15,757,044 |
Total Fair Value [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash, interest-bearing bank deposits, and federal funds sold | 617,280 | 1,948,679 |
Available for sale securities | 1,421,772 | 2,048,442 |
Held to maturity securities | 2,576,584 | 1,710,465 |
Loans, net | 12,047,722 | 11,567,103 |
Loans held for sale | 24,515 | 50,605 |
Accrued interest receivable | 42,977 | 45,616 |
Derivative financial instruments | ' | 20,093 |
Deposits | 15,352,024 | 15,757,044 |
Federal funds purchased | 7,725 | 25,704 |
Securities sold under agreements to repurchase | 650,235 | 613,429 |
Long-term debt | 385,557 | 410,791 |
Accrued interest payable | 4,353 | 4,814 |
Derivative financial instruments | 15,006 | 21,100 |
Derivative financial instruments | 15,006 | 21,100 |
Carrying Amount [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash, interest-bearing bank deposits, and federal funds sold | 617,280 | 1,948,679 |
Available for sale securities | 1,421,772 | 2,048,442 |
Held to maturity securities | 2,611,352 | 1,668,018 |
Loans, net | 12,191,191 | 11,441,631 |
Loans held for sale | 24,515 | 50,605 |
Accrued interest receivable | 42,977 | 45,616 |
Derivative financial instruments | ' | 20,093 |
Deposits | 15,360,516 | 15,744,188 |
Federal funds purchased | 7,725 | 25,704 |
Securities sold under agreements to repurchase | 650,235 | 613,429 |
Long-term debt | 385,826 | 396,589 |
Accrued interest payable | 4,353 | 4,814 |
Derivative financial instruments | 15,006 | 21,100 |
Derivative financial instruments | $15,006 | $21,100 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Summary of Obligations (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commitments to extend credit [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Credit related obligations | $5,234,929 | $4,373,679 |
Letters of credit [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Credit related obligations | $422,284 | $401,861 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments And Contingencies Disclosure [Abstract] | ' | ' | ' |
Federal deposit insurance corporation related to assessment | $2.10 | ' | ' |
Federal deposit insurance corporation estimate of loss | 2.1 | ' | ' |
Outstanding reimbursement claims due from FDIC | 9.9 | ' | ' |
Expected FDIC assessment | 11.5 | ' | ' |
Rental expense | $12.90 | $14.30 | $11.90 |
Commitments_and_Contingencies_3
Commitments and Contingencies - Future Minimum Lease Payments for All Non-Cancelable Capital and Operating Leases (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies Disclosure [Abstract] | ' |
2014 | $10,378 |
2015 | 8,926 |
2016 | 7,950 |
2017 | 7,129 |
2018 | 5,417 |
Thereafter | 18,984 |
Total minimum lease payments | $58,784 |
Other_Noninterest_Income_and_O2
Other Noninterest Income and Other Noninterest Expense - Components of Other Noninterest Income and Other Noninterest Expense (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other noninterest income: | ' | ' | ' |
Income from bank-owned life insurance | $11,223 | $11,163 | $9,311 |
Credit-related fees | 8,724 | 6,681 | 5,752 |
Income from derivatives | 4,675 | 3,600 | 760 |
Gain on sales of assets | 1,932 | 4,366 | 1,083 |
Safety deposit box income | 1,923 | 2,006 | 1,591 |
(Amortization) accretion of FDIC loss share receivable | -2,239 | 5,000 | 16,689 |
Other miscellaneous income | 8,753 | 9,072 | 7,081 |
Total other noninterest income | 34,992 | 41,888 | 42,267 |
Other noninterest expense: | ' | ' | ' |
Advertising | 10,399 | 13,515 | 17,687 |
Ad valorem and franchise taxes | 9,727 | 8,321 | 5,330 |
Printing and supplies | 5,112 | 7,491 | 5,608 |
Insurance expense | 4,094 | 5,494 | 7,490 |
Travel | 4,716 | 5,758 | 3,590 |
Entertainment and contributions | 5,265 | 6,049 | 3,954 |
Tax credit investment amortization | 10,781 | 5,974 | 3,515 |
Other miscellaneous expense | 45,242 | 27,669 | 31,539 |
Total other noninterest expense | $95,336 | $80,271 | $78,713 |
Income_Taxes_Components_of_Inc
Income Taxes - Components of Income Tax Expense (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Included in net income | ' | ' | ' |
Current federal | $14,797 | $11,195 | $7,400 |
Current state | -3,207 | 1,953 | 1,961 |
Total current provision | 11,590 | 13,148 | 9,361 |
Deferred federal | 37,403 | 34,219 | 9,735 |
Deferred state | 3,517 | -1,754 | -1,032 |
Total deferred provision | 40,920 | 32,465 | 8,703 |
Total included in net income | 52,510 | 45,613 | 18,064 |
Included in shareholder's equity | ' | ' | ' |
Deferred tax related to retirement benefits | 32,749 | 3,788 | -32,944 |
Deferred tax related to securities | -40,876 | -1,583 | 19,145 |
Deferred tax related to derivatives and hedging | 116 | -75 | -42 |
Total included in shareholder's equity | ($8,011) | $2,130 | ($13,841) |
Income_Taxes_Components_of_Com
Income Taxes - Components of Company's Deferred Tax Assets and Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Allowance for loan losses | $64,389 | $77,957 |
Employee compensation and benefits | 31,293 | 64,030 |
Loan purchase accounting adjustments | 75,595 | 185,789 |
Tax credit carryforward | 41,083 | 35,605 |
Securities | 6,432 | ' |
State net operating loss | 1,535 | 1,805 |
Other | 21,611 | 18,102 |
Gross deferred tax assets | 241,938 | 383,288 |
Federal valuation allowance | ' | ' |
State valuation allowance | -1,531 | -1,805 |
Subtotal valuation allowance | -1,531 | -1,805 |
Net deferred tax assets | 240,407 | 381,483 |
Deferred tax liabilities: | ' | ' |
Fixed assets & intangibles | -93,952 | -124,402 |
Securities | ' | -46,088 |
Deferred gain on acquisition | -4,407 | -8,962 |
FDIC indemnification asset | -37,775 | -62,311 |
Other | -14,565 | -11,335 |
Gross deferred tax liabilities | -150,699 | -253,098 |
Net deferred tax asset (liability) | $89,708 | $128,385 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax [Line Items] | ' | ' | ' |
Tax computed at statutory rate | 35.00% | 35.00% | 35.00% |
Federal tax credit carryforwards | $41,083,000 | $35,605,000 | ' |
Federal [Member] | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Tax credit carry forwards, Expiration dates | 'Begin expiring in 2017 | ' | ' |
From 2008 through 2013 tax years [Member] | Federal [Member] | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Federal tax credit carryforwards | 41,000,000 | ' | ' |
2002 through 2013 tax years [Member] | State [Member] | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Federal and state net operating loss carryforwards | $43,000,000 | ' | ' |
Operating loss carry forwards, Expiration dates | 'Begin expiring in 2028 | ' | ' |
Income_Taxes_Schedule_of_Effec
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Taxes computed at statutory rate, Amount | $75,553 | $69,074 | $33,188 |
State income taxes, net of federal income tax benefit, Amount | 2,352 | -78 | 689 |
Tax-exempt interest, Amount | -6,487 | -7,127 | -6,892 |
Bank owned life insurance, Amount | -3,926 | -4,005 | -3,352 |
Tax credits, Amount | -17,454 | -13,661 | -8,384 |
Merger transaction costs, Amount | ' | ' | 2,178 |
Other, net, Amount | 2,472 | 1,410 | 637 |
Total tax expense, Amount | $52,510 | $45,613 | $18,064 |
Taxes computed at statutory rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal income tax benefit | 1.00% | 0.00% | 1.00% |
Tax-exempt interest | -3.00% | -4.00% | -8.00% |
Bank owned life insurance | -2.00% | -2.00% | -4.00% |
Tax credits | -8.00% | -7.00% | -9.00% |
Merger transaction costs | 0.00% | 0.00% | 3.00% |
Other, net | 1.00% | 1.00% | 1.00% |
Income tax expense | 24.00% | 23.00% | 19.00% |
Earnings_Per_Share_Computation
Earnings Per Share - Computation of Earnings Per Common Share (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Numerator: | ' | ' | ' |
Net income to common shareholders | $163,356 | $151,742 | $76,759 |
Net income allocated to participating securities - basic and diluted | 3,105 | 1,557 | 866 |
Net income allocated to common shareholders - basic and diluted | $160,251 | $150,185 | $75,893 |
Denominator: | ' | ' | ' |
Weighted-average common shares - basic | 83,066 | 84,767 | 65,590 |
Dilutive potential common shares | 101 | 821 | 480 |
Weighted average common shares - diluted | 83,167 | 85,588 | 66,070 |
Earnings per common share: | ' | ' | ' |
Basic | $1.93 | $1.77 | $1.16 |
Diluted | $1.93 | $1.75 | $1.15 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Earnings Per Share [Abstract] | ' | ' | ' |
Weighted-average anti-dilutive potential common shares | 916,756 | 1,057,925 | 1,617,779 |
Segment_Reporting_Schedule_of_
Segment Reporting - Schedule of Segment Reporting Information (Detail) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Interest income | $722,210 | $762,549 | $592,204 | ' |
Interest expense | -41,479 | -51,682 | -70,971 | ' |
Net interest income | 680,731 | 710,867 | 521,233 | ' |
Provision for loan losses | -32,734 | -54,192 | -38,732 | ' |
Noninterest income | 246,038 | 252,195 | 206,427 | ' |
Depreciation and amortization | -32,063 | -32,856 | -24,606 | ' |
Other noninterest expense | -646,211 | -680,211 | -569,408 | ' |
Securities transactions | 105 | 1,552 | -91 | ' |
Income before income taxes | 215,866 | 197,355 | 94,823 | ' |
Income tax expense | 52,510 | 45,613 | 18,064 | ' |
Net income | 163,356 | 151,742 | 76,759 | ' |
Goodwill | 625,675 | 628,877 | 651,162 | 61,631 |
Total assets | 19,009,251 | 19,464,485 | 19,774,096 | ' |
Total interest income from external customers | 722,210 | 762,549 | 592,204 | ' |
Operating Segments [Member] | Hancock [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Interest income | 265,160 | 269,915 | 195,230 | ' |
Interest expense | -18,575 | -22,553 | -39,056 | ' |
Net interest income | 246,585 | 247,362 | 156,174 | ' |
Provision for loan losses | -23,173 | -21,304 | -17,216 | ' |
Noninterest income | 72,180 | 78,785 | 76,846 | ' |
Depreciation and amortization | -15,501 | -14,309 | -10,649 | ' |
Other noninterest expense | -227,574 | -230,208 | -163,088 | ' |
Securities transactions | ' | 579 | -51 | ' |
Income before income taxes | 52,517 | 60,905 | 42,016 | ' |
Income tax expense | 10,490 | 11,878 | 6,513 | ' |
Net income | 42,027 | 49,027 | 35,503 | ' |
Goodwill | 94,130 | 94,130 | 23,386 | ' |
Total assets | 6,573,428 | 6,308,690 | 4,934,003 | ' |
Total interest income from affiliates | 3,488 | 4,042 | 4,364 | ' |
Total interest income from external customers | 261,672 | 265,873 | 190,866 | ' |
Operating Segments [Member] | Whitney [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Interest income | 437,298 | 473,664 | 380,072 | ' |
Interest expense | -17,253 | -25,178 | -29,538 | ' |
Net interest income | 420,045 | 448,486 | 350,534 | ' |
Provision for loan losses | -4,746 | -32,834 | -17,550 | ' |
Noninterest income | 134,507 | 133,228 | 96,349 | ' |
Depreciation and amortization | -15,352 | -17,515 | -13,123 | ' |
Other noninterest expense | -377,684 | -403,935 | -372,034 | ' |
Securities transactions | ' | 966 | ' | ' |
Income before income taxes | 156,770 | 128,396 | 44,176 | ' |
Income tax expense | 41,060 | 30,998 | 7,584 | ' |
Net income | 115,710 | 97,398 | 36,592 | ' |
Goodwill | 527,063 | 530,265 | 623,294 | ' |
Total assets | 12,908,891 | 13,127,109 | 14,792,788 | ' |
Total interest income from affiliates | 1,115 | 984 | 528 | ' |
Total interest income from external customers | 436,183 | 472,680 | 379,544 | ' |
Other [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Interest income | 24,355 | 23,996 | 21,794 | ' |
Interest expense | -9,794 | -8,516 | -6,807 | ' |
Net interest income | 14,561 | 15,480 | 14,987 | ' |
Provision for loan losses | -4,815 | -54 | -3,966 | ' |
Noninterest income | 39,351 | 40,219 | 32,761 | ' |
Depreciation and amortization | -1,210 | -1,032 | -834 | ' |
Other noninterest expense | -40,953 | -46,105 | -34,894 | ' |
Securities transactions | 105 | 7 | -40 | ' |
Income before income taxes | 7,039 | 8,515 | 8,014 | ' |
Income tax expense | 960 | 2,737 | 3,967 | ' |
Net income | 6,079 | 5,778 | 4,047 | ' |
Goodwill | 4,482 | 4,482 | 4,482 | ' |
Total assets | 2,933,388 | 2,865,346 | 2,462,281 | ' |
Total interest income from external customers | 24,355 | 23,996 | 21,794 | ' |
Eliminations [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Interest income | -4,603 | -5,026 | -4,892 | ' |
Interest expense | 4,143 | 4,565 | 4,430 | ' |
Net interest income | -460 | -461 | -462 | ' |
Noninterest income | ' | -37 | 471 | ' |
Other noninterest expense | ' | 37 | 608 | ' |
Income before income taxes | -460 | -461 | 617 | ' |
Net income | -460 | -461 | 617 | ' |
Total assets | -3,406,456 | -2,836,660 | -2,414,976 | ' |
Total interest income from affiliates | ($4,603) | ($5,026) | ($4,892) | ' |
Segment_Reporting_Additional_I
Segment Reporting - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Segment Reporting Information [Line Items] | ' | ' |
Other intangible assets, net | $159.80 | $189.40 |
Hancock [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Other intangible assets, net | 17 | 20.3 |
Whitney [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Other intangible assets, net | 135.3 | 168.9 |
Other [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Other intangible assets, net | 7.5 | 0.2 |
Core Deposit Intangibles [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Other intangible assets, net | 132.7 | 154.7 |
Other Identifiable Intangible Assets [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Other intangible assets, net | $27.10 | $34.70 |
Condensed_Parent_Company_Infor2
Condensed Parent Company Information - Condensed Balance Sheets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Assets: | ' | ' | ' | ' |
Securities available for sale | $1,421,772 | $2,048,442 | ' | ' |
Total assets | 19,009,251 | 19,464,485 | 19,774,096 | ' |
Liabilities and Stockholders' Equity: | ' | ' | ' | ' |
Long term debt | 385,826 | 396,589 | ' | ' |
Stockholders' equity | 2,425,069 | 2,453,278 | 2,367,163 | 856,548 |
Total liabilities and stockholders' equity | 19,009,251 | 19,464,485 | ' | ' |
Hancock [Member] | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Cash | 66,338 | 26,041 | ' | ' |
Securities available for sale | 107,017 | 132,551 | ' | ' |
Investment in bank subsidiaries | 2,409,319 | 2,495,412 | ' | ' |
Investment in non-bank subsidiaries | 5,319 | 8,071 | ' | ' |
Due from subsidiaries and other assets | 23,161 | 13,447 | ' | ' |
Total assets | 2,611,154 | 2,675,522 | ' | ' |
Liabilities and Stockholders' Equity: | ' | ' | ' | ' |
Long term debt | 184,800 | 220,000 | ' | ' |
Due to subsidiaries and other liabilities | 1,285 | 2,244 | ' | ' |
Stockholders' equity | 2,425,069 | 2,453,278 | ' | ' |
Total liabilities and stockholders' equity | $2,611,154 | $2,675,522 | ' | ' |
Condensed_Parent_Company_Infor3
Condensed Parent Company Information - Condensed Statements of Income (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Income From subsidiaries | ' | ' | ' |
Income tax expense (benefit) | $52,510 | $45,613 | $18,064 |
Net income | 163,356 | 151,742 | 76,759 |
Hancock [Member] | ' | ' | ' |
Operating Income From subsidiaries | ' | ' | ' |
Cash dividends received from bank subsidiaries | 249,000 | 25,000 | 123,100 |
Non-cash dividend from bank subsidiary in restructuring | ' | 225,000 | 13,451 |
Dividends received from non-bank subsidiaries | 2,990 | 150 | ' |
Equity in earnings of subsidiaries greater than (less than) dividends received | -82,203 | -94,486 | -57,172 |
Total operating income | 169,787 | 155,664 | 79,379 |
Other (expense) income | -10,335 | -6,673 | -2,592 |
Income tax expense (benefit) | -3,904 | -2,751 | 28 |
Net income | $163,356 | $151,742 | $76,759 |
Condensed_Parent_Company_Infor4
Condensed Parent Company Information - Condensed Statements of Cash Flows (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | $473,532 | $443,032 | $273,046 |
Cash flows from investing activities | ' | ' | ' |
Purchase of available for sale securities | -1,074,744 | -285,825 | -1,732,757 |
Proceeds of securities available for sale | 178 | 48,336 | 342,864 |
Cash paid in connection with business combination | ' | ' | -74,736 |
Other, net | 13,150 | -376 | -104 |
Net cash (used in) investing activities | -4,497 | -17,733 | -301,023 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Proceeds from issuance of long term debt | 24,515 | 232,720 | 150,317 |
Repayment of long term debt | -35,278 | -192,087 | -16,641 |
Dividends paid to stockholders | -81,212 | -82,690 | -70,617 |
Net cash provided by (used by) financing activities | -569,086 | -414,755 | 326,237 |
Net increase (decrease) in cash | -100,051 | 10,544 | 298,260 |
CASH AND DUE FROM BANKS, BEGINNING | 448,491 | 437,947 | 139,687 |
CASH AND DUE FROM BANKS, ENDING | 348,440 | 448,491 | 437,947 |
Hancock [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Cash flows from operating activities - principally dividends received from subsidiaries | 257,251 | 18,789 | 113,355 |
Net cash provided by operating activities | 257,251 | 18,789 | 113,355 |
Cash flows from investing activities | ' | ' | ' |
Contribution of capital to subsidiary | -870 | -955 | -233 |
Loans to nonbank subsidiaries, net of repayments | ' | 1,684 | ' |
Purchase of available for sale securities | ' | -77,058 | -103,432 |
Proceeds of securities available for sale | 18,685 | 47,305 | 1,396 |
Cash paid in connection with business combination | ' | ' | -275,563 |
Other, net | -5,630 | ' | ' |
Net cash (used in) investing activities | 12,185 | -29,024 | -377,832 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Proceeds from issuance of long term debt | ' | 217,933 | 140,000 |
Repayment of long term debt | -35,200 | -140,000 | ' |
Dividends paid to stockholders | -81,673 | -83,151 | -70,617 |
Stock transactions, net | -112,266 | 13,479 | 222,322 |
Net cash provided by (used by) financing activities | -229,139 | 8,261 | 291,705 |
Net increase (decrease) in cash | 40,297 | -1,974 | 27,228 |
CASH AND DUE FROM BANKS, BEGINNING | 26,041 | 28,015 | 787 |
CASH AND DUE FROM BANKS, ENDING | $66,338 | $26,041 | $28,015 |