Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2015 | Jan. 31, 2016 | Jun. 30, 2015 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | HBHC | ||
Entity Registrant Name | HANCOCK HOLDING CO | ||
Entity Central Index Key | 750,577 | ||
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 | 77,496,907 | ||
Entity Public Float | $ 2.5 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Assets: | ||
Cash and due from banks | $ 303,874 | $ 356,455 |
Interest-bearing bank deposits | 564,671 | 801,576 |
Federal funds sold | 884 | 1,372 |
Securities available for sale, at fair value (amortized cost of $2,086,745 and $1,631,761) | 2,093,404 | 1,660,165 |
Securities held to maturity (fair value of $2,375,851 and $2,186,340) | 2,370,388 | 2,166,289 |
Loans held for sale | 20,434 | 20,252 |
Loans | 15,703,314 | 13,895,276 |
Less: allowance for loan losses | (181,179) | (128,762) |
Loans, net | 15,522,135 | 13,766,514 |
Property and equipment, net of accumulated depreciation of $209,763 and $193,527 | 377,015 | 398,384 |
Prepaid expense | 17,560 | 28,277 |
Other real estate, net | 26,256 | 58,415 |
Accrued interest receivable | 54,068 | 47,501 |
Goodwill | 621,193 | 621,193 |
Other intangible assets, net | 107,538 | 132,810 |
Life insurance contracts | 434,550 | 426,617 |
FDIC loss share receivable | 29,868 | 60,272 |
Deferred tax asset, net | 75,830 | 74,335 |
Other assets | 219,791 | 126,839 |
Total assets | 22,839,459 | 20,747,266 |
Deposits: | ||
Noninterest-bearing | 7,276,127 | 5,945,208 |
Interest-bearing | 11,072,785 | 10,627,623 |
Total deposits | 18,348,912 | 16,572,831 |
Short-term borrowings | 1,423,644 | 1,151,573 |
Long-term debt | 495,999 | 374,371 |
Accrued interest payable | 6,609 | 4,204 |
Other liabilities | 151,152 | 171,885 |
Total liabilities | 20,426,316 | 18,274,864 |
Stockholders' equity: | ||
Common stock-$3.33 par value per share; 350,000,000 shares authorized, 77,496,429 and 80,426,485 outstanding | 258,063 | 267,820 |
Capital surplus | 1,684,101 | 1,689,291 |
Treasury shares at cost-9,319,082 and 7,053,028 shares | (226,370) | (158,131) |
Retained earnings | 777,944 | 723,496 |
Accumulated other comprehensive loss, net | (80,595) | (50,074) |
Total stockholders' equity | 2,413,143 | 2,472,402 |
Total liabilities and stockholders' equity | $ 22,839,459 | $ 20,747,266 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Securities available for sale, amortized cost | $ 2,086,745 | $ 1,631,761 |
Held to maturity securities, fair value | 2,375,851 | 2,186,340 |
Property and equipment, accumulated depreciation | $ 209,763 | $ 193,527 |
Common stock, par value per share | $ 3.33 | $ 3.33 |
Common stock, shares authorized | 350,000,000 | 350,000,000 |
Common stock, shares outstanding | 77,496,429 | 80,426,485 |
Treasury shares, shares | 9,319,082 | 7,053,028 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Interest income: | |||
Loans, including fees | $ 583,751 | $ 601,466 | $ 629,882 |
Loans held for sale | 678 | 708 | 882 |
Securities-taxable | 90,522 | 85,806 | 85,426 |
Securities-tax exempt | 3,447 | 3,873 | 4,621 |
Short-term investments | 1,248 | 960 | 1,399 |
Total interest income | 679,646 | 692,813 | 722,210 |
Interest expense: | |||
Deposits | 33,876 | 23,223 | 24,175 |
Short-term borrowings | 1,078 | 2,361 | 4,542 |
Long-term debt | 19,518 | 12,535 | 12,762 |
Total interest expense | 54,472 | 38,119 | 41,479 |
Net interest income | 625,174 | 654,694 | 680,731 |
Provision for loan losses | 73,038 | 33,840 | 32,734 |
Net interest income after provision for loan losses | 552,136 | 620,854 | 647,997 |
Noninterest income: | |||
Service charges on deposit accounts | 72,813 | 77,006 | 79,000 |
Trust fees | 45,627 | 44,826 | 38,186 |
Bank card and ATM fees | 46,480 | 45,031 | 45,939 |
Investment and annuity fees | 20,669 | 20,291 | 19,574 |
Secondary mortgage market operations | 12,579 | 8,036 | 12,543 |
Insurance commissions and fees | 8,567 | 9,473 | 15,804 |
Amortization of loss share receivable | (5,747) | (12,102) | (2,239) |
Other income | 35,961 | 35,438 | 37,231 |
Securities transactions | 335 | 105 | |
Total noninterest income | 237,284 | 227,999 | 246,143 |
Noninterest expense: | |||
Compensation expense | 278,661 | 276,881 | 291,225 |
Employee benefits | 54,880 | 51,415 | 65,257 |
Personnel expense | 333,541 | 328,296 | 356,482 |
Net occupancy expense | 44,842 | 43,596 | 48,854 |
Equipment expense | 15,494 | 16,953 | 20,026 |
Data processing expense | 55,590 | 51,369 | 48,367 |
Professional services expense | 40,198 | 33,221 | 39,357 |
Amortization of intangibles | 24,184 | 26,797 | 29,470 |
Telecommunications and postage | 14,127 | 14,676 | 17,432 |
Deposit insurance and regulatory fees | 16,736 | 11,872 | 14,914 |
Other real estate expense, net | 2,740 | 2,758 | 8,036 |
Other expense | 72,203 | 77,128 | 95,336 |
Total noninterest expense | 619,655 | 606,666 | 678,274 |
Income before income taxes | 169,765 | 242,187 | 215,866 |
Income taxes | 38,304 | 66,465 | 52,510 |
Net income | $ 131,461 | $ 175,722 | $ 163,356 |
Earnings per common share-basic | $ 1.64 | $ 2.10 | $ 1.93 |
Earnings per common share-diluted | $ 1.64 | $ 2.10 | $ 1.93 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 131,461 | $ 175,722 | $ 163,356 |
Other comprehensive income before income taxes | |||
Reclassification of net change in unrealized (loss) gain | (21,270) | 14,821 | (105,274) |
Reclassification of net losses realized and included in earnings | 3,010 | 390 | 8,527 |
Valuation adjustment of employee benefit plans | (33,971) | (41,244) | 82,653 |
Amortization of unrealized net loss (gain) on securities transferred to held to maturity | 3,530 | 3,297 | (6,371) |
Other comprehensive loss before income taxes | (48,701) | (22,736) | (20,465) |
Income tax benefit | (18,180) | (8,041) | (8,011) |
Other comprehensive loss net of income taxes | (30,521) | (14,695) | (12,454) |
Comprehensive income | $ 100,940 | $ 161,027 | $ 150,902 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss, net [Member] | Treasury Stock [Member] |
Balance at Dec. 31, 2012 | $ 2,453,278 | $ 282,543 | $ 1,668,517 | $ 546,022 | $ (22,925) | $ (20,879) |
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 ($0.96 per common share) | (81,212) | (81,212) | ||||
Common stock activity, long-term incentive plan | 17,101 | $ 690 | (21,050) | 37,461 | ||
Common stock activity, long-term incentive plan, shares | 207,006 | |||||
Purchase of common stock under stock buyback program | (115,000) | $ (9,383) | (105,617) | |||
Purchase of common stock under stock buyback program, shares | (2,817,640) | |||||
Balance at Dec. 31, 2013 | 2,425,069 | $ 273,850 | 1,647,467 | 628,166 | (35,379) | (89,035) |
Balance, Shares at Dec. 31, 2013 | 82,237,162 | |||||
Net income | 175,722 | 175,722 | ||||
Other comprehensive income | (14,695) | (14,695) | ||||
Cash dividends declared ($0.96 per common share) | (80,392) | (80,392) | ||||
Common stock activity, long-term incentive plan | 14,316 | $ 1,029 | 41,824 | (28,537) | ||
Common stock activity, long-term incentive plan, shares | 309,087 | |||||
Purchase of common stock under stock buyback program | (47,618) | $ (7,059) | (40,559) | |||
Purchase of common stock under stock buyback program, shares | (2,119,764) | |||||
Balance at Dec. 31, 2014 | 2,472,402 | $ 267,820 | 1,689,291 | 723,496 | (50,074) | (158,131) |
Balance, Shares at Dec. 31, 2014 | 80,426,485 | |||||
Net income | 131,461 | 131,461 | ||||
Other comprehensive income | (30,521) | (30,521) | ||||
Cash dividends declared ($0.96 per common share) | (77,013) | (77,013) | ||||
Common stock activity, long-term incentive plan | 12,427 | $ 1,248 | (5,190) | 16,369 | ||
Common stock activity, long-term incentive plan, shares | 374,944 | |||||
Purchase of common stock under stock buyback program | (95,613) | $ (11,005) | (84,608) | |||
Purchase of common stock under stock buyback program, shares | (3,305,000) | |||||
Balance at Dec. 31, 2015 | $ 2,413,143 | $ 258,063 | $ 1,684,101 | $ 777,944 | $ (80,595) | $ (226,370) |
Balance, Shares at Dec. 31, 2015 | 77,496,429 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
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 Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | $ 131,461 | $ 175,722 | $ 163,356 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 28,763 | 30,310 | 32,063 |
Provision for loan losses | 73,038 | 33,840 | 32,734 |
Loss (gain) on other real estate owned | 635 | (105) | 4,329 |
Deferred tax expense | 16,685 | 23,537 | 40,920 |
Increase in cash surrender value of life insurance contracts | (9,789) | (11,774) | (11,223) |
Writedowns on closed branch transfers to other real estate owned | 2,132 | 12,809 | |
Loss (gain) on disposal of other assets | 1,815 | (1,282) | 130 |
Net (increase) decrease in loans held for sale | (289) | 18,234 | 29,103 |
Net amortization of securities premium/discount | 21,105 | 16,977 | 31,970 |
Amortization of intangible assets | 24,184 | 26,798 | 29,635 |
Amortization of FDIC loss share receivable | 5,747 | 12,102 | 2,239 |
Stock-based compensation expense | 12,944 | 13,958 | 13,079 |
(Decrease) increase in interest payable and other liabilities | (8,107) | (15,235) | 29,553 |
Net payments from FDIC | 14,051 | 14,395 | 61,765 |
Decrease (increase) in FDIC loss share receivable | 6,407 | 5,723 | (9,117) |
(Increase) decrease in other assets | (93,950) | 11,082 | (724) |
Other, net | 7,645 | (3,986) | 10,911 |
Net cash provided by operating activities | 232,345 | 352,428 | 473,532 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Proceeds from sales of securities available for sale | 9,289 | 1,455 | 178 |
Proceeds from maturities of securities available for sale | 842,114 | 283,982 | 592,147 |
Purchases of securities available for sale | (1,323,853) | (512,088) | (1,074,744) |
Proceeds from maturities of securities held to maturity | 538,777 | 442,559 | 503,654 |
Purchases of securities held to maturity | (749,102) | (1,031) | (481,513) |
Net decrease (increase) in short-term investments | 237,393 | (534,108) | 1,231,348 |
Net increase in loans | (1,865,015) | (1,622,867) | (834,933) |
Purchase of life insurance contracts | (30,000) | ||
Purchases of property, equipment and intangible assets | (23,804) | (20,449) | (32,029) |
Proceeds from sales of property and equipment | 14,259 | 12,235 | 1,698 |
Proceeds from sales of other real estate | 47,115 | 59,752 | 92,662 |
Other, net | (3,604) | 10,101 | (2,965) |
Net cash provided by (used in) investing activities | (2,276,431) | (1,910,459) | (4,497) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Net increase (decrease) in deposits | 1,776,081 | 1,212,315 | (383,672) |
Net increase in short-term borrowings | 272,071 | 493,613 | 18,827 |
Repayments of long-term debt | (157,933) | (35,360) | (35,278) |
Issuance of long-term debt | 273,565 | 21,000 | 24,515 |
Dividends paid | (77,013) | (80,392) | (81,212) |
Repurchase of common stock | (95,613) | (47,618) | (115,000) |
Proceeds from exercise of stock options | 347 | 2,488 | 2,734 |
Net cash provided by (used in) financing activities | 1,991,505 | 1,566,046 | (569,086) |
NET (DECREASE) INCREASE IN CASH AND DUE FROM BANKS | (52,581) | 8,015 | (100,051) |
CASH AND DUE FROM BANKS, BEGINNING | 356,455 | 348,440 | 448,491 |
CASH AND DUE FROM BANKS, ENDING | 303,874 | 356,455 | 348,440 |
SUPPLEMENTAL INFORMATION | |||
Income taxes paid | 31,896 | 24,114 | 24,052 |
Interest paid | 51,201 | 38,268 | 41,996 |
SUPPLEMENTAL INFORMATION FOR NON-CASH INVESTING AND FINANCING ACTIVITIES | |||
Assets acquired in settlement of loans | $ 15,462 | $ 31,371 | 51,461 |
Transfers from available for sale securities to held to maturity securities | $ 1,039,979 |
Summary of Significant Accounti
Summary of Significant Accounting Policies and Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2015 | |
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 (Hancock or the Company) is a financial services company that provides a comprehensive network of full-service financial choices to the Gulf South region through its bank subsidiary, Whitney Bank, a Mississippi state bank. Whitney Bank operates under brands: “Hancock Bank” in Mississippi, Alabama and Florida and “Whitney Bank” in Louisiana and Texas. Whitney Bank operates a loan production office in Nashville, Tennessee under both the Hancock and Whitney Bank brands. Hancock was organized in 1984 as a bank holding company registered under the Bank Holding Company Act of 1956, as amended. In 2002, the Company qualified as a financial holding company giving it broader powers. The corporate headquarters of the Company is in Gulfport, Mississippi. Prior to March 31, 2014, Hancock was the parent company of two wholly-owned bank subsidiaries, Hancock Bank and Whitney Bank. On March 31, 2014, Hancock consolidated the legal charters of its two subsidiary banks and renamed the consolidated entity Whitney Bank. Hancock Bank, Whitney Bank, and the consolidated Whitney Bank are referred to collectively as the “Bank” throughout this document. The Bank offers a broad range of traditional and online community banking services to commercial, small business and retail customers, providing a variety of transaction and savings deposit products, treasury management services, investment brokerage services, secured and unsecured loan products, (including revolving credit facilities), and letters of credit and similar financial guarantees. The Bank also provides trust and investment management services to retirement plans, corporations and individuals. 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. Certain prior period amounts have been reclassified to conform to the current period presentation. 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 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 (“AOCI”) 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 reported as “originated” include both loans originated for investment and acquired-performing loans where the discount (premium) has been fully accreted (amortized). Originated loans are reported at the principal balance outstanding net of unearned income. Interest on loans and accretion of unearned income, including net 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 Loans reported as “acquired” are those loans that were purchased in the 2011 Whitney Holding Corporation acquisition. These loans were recorded at estimated fair value at the acquisition date with no carryover of the related allowance for loan losses. The Whitney 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 to facilitate purchase accounting. Acquired-performing loans are accounted for under Accounting Standards Codification (ASC) 310-20 and acquired-impaired loans are accounted for under ASC 310-30. Acquired-performing loans were segregated into pools based on common risk characteristics such as loan type, credit risk ratings, 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 loans, 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 historical experience and the portfolio characteristics at acquisition as well as available market research. The fair value estimate for each acquired-performing pool was based on the estimate of expected cash flows from the pool discounted at prevailing market rates. 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 reported as nonperforming or past due using the same criteria applied to the originated portfolio. The acquired-impaired loans were segregated into pools by identifying loans with common credit risk profiles and were based primarily on characteristics such as loan type and market area in which originated. The major loan types included commercial and industrial loans not secured by real estate, real estate construction and land development loans, commercial real estate loans, and residential mortgage loans, with further segregation within certain loan types as needed. The acquired-impaired loans were further disaggregated by geographic region in recognition of the differences in general economic conditions affecting borrowers in certain states. The fair value estimate for each pool of acquired-impaired loans was based on the estimate of expected cash flows from the pool discounted at prevailing market rates. The excess of estimated cash flows expected 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 expected 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. 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. FDIC acquired loans and the related loss share receivable Loans reported as “FDIC acquired” are loans purchased in the 2009 acquisition of Peoples First Community Bank (Peoples First) that were covered by two loss share agreements between the FDIC and the Company. These 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 as impaired 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 covered loan pools change. Increases in expected reimbursements under the loss sharing agreement 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 loss share receivable 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 concurrently 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 are 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 initially 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 loan’s observable market price 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 and Lease Losses Originated loans The Allowance for Loan and Lease Losses (ALLL) is a valuation account available to absorb losses on loans. The ALLL is established and maintained at an amount sufficient to cover 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 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. For the loss rate analysis, the Company segments loans into commercial non-real estate, construction and land development, commercial real estate, residential mortgage and consumer, with further segmentation as deemed appropriate. Both quantitative and qualitative factors are applied at the detailed portfolio segments. 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. The Company uses loss emergence periods developed based on historical experience, which is currently eighteen-months for commercial loans and twelve-months for retail loans. Historical loss rates are calculated using a weighted average of the most recent three loss emergence periods. As circumstances dictate, management will make adjustments to the overall loss rate 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 nonperforming 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 loan’s 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 and all loans classified as troubled debt restructurings. The monitoring of credit risk also extends to unfunded credit commitments, such as unused commercial credit lines and letters of credit, and management establishes reserves as needed for its estimate of probable losses on such commitments. 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 when the loan is 90 days past due for unsecured loans or 120 days past due for secured loans, unless the loan is clearly both well secured and in the process of collection. Loans are charged down to the fair value of the collateral, if any, less estimated selling costs. Loans are charged off against the allowance for loan losses with subsequent recoveries added back to the allowance. Acquired and FDIC acquired loans Allowance for acquired-performing loans is evaluated 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, including those acquired in the FDIC-assisted transaction, 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 ten years for furniture and equipment. Amortization expense for software is generally charged over three years, or seven years for core systems. Leasehold improvements are amortized over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. 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 Bank’s business. These assets are recorded at the estimated fair value less the estimated cost of disposition and carried at the lower of either cost or market. Fair value is based on independent appraisals and other relevant factors. 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. Other real estate is revalued on an annual basis or more often if market conditions necessitate. 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 unit’s goodwill is compared to its carrying value. The Company uses a number of techniques to estimate fair value, including an income approach using the present value of future cash flows and a market approach using prices and other information from similar market transactions. Each technique incorporates assumptions that market participants would use in their estimates of fair value. These include assumptions about the economic environment, expected net interest margins, growth rates, interest at which cash flows are discounted, price-to-book multiples and price-to-earnings multiples. 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. These assets 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, otherwise it is included in other comprehensive income. Note 9 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. The Company invests in projects that yield tax credits issued under the Qualified Zone Academy Bonds (QZAB), Qualified School Construction Bonds (QSCB), Federal and State New Market Tax Credit (NMTC), and Low-Income Housing Tax Credit (LIHTC) programs. Returns on these investments are generated through the receipt of federal and state tax credits. The tax credits are recorded as a reduction to the income tax provision in the year that they are earned. Tax credits from QZAB and QSCB bonds are generally earned over the life of the bonds in lieu of interest income. Credits on Federal NMTC investments are earned over the 7 year compliance period beginning with the year of investment. Credits on State NMTC investments are generally earned over a 3 to 5 year period depending upon the specific state program. Tax credits are earned over a 10 year period for Low-Income Housing investments beginning with the year in which rental activity begins. These tax credits, if not used in the tax return for the year when the credits are first available for use, can be carried forward for 20 years. For those investments where the return of the principal is not expected, the equity investment is amortized over the life of the tax compliance period as a component of noninterest expense. 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 15 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 AOCI. 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 origination fees are recognized over the life of the loan as an adjustment to yield. Other credit-related fees, including letter of credit fees, are recognized in noninterest income when earned. The Company recognizes commission revenue and brokerage, exchange and clearance fees on a trade-date basis. Other types of noninterest 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 can be reasonably determined. 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-base |
Securities
Securities | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | Note 2. Securities The amortized cost and fair value of securities classified as available for sale and held to maturity follow: Securities Available for Sale December 31, 2015 December 31, 2014 in thousands Amortized Gross Unrealized Gross Unrealized Fair Value Amortized Gross Unrealized Gross Unrealized Fair Value U.S. Treasury and government agency securities $ 135 $ — $ 1 $ 134 $ 300,207 $ 372 $ 71 $ 300,508 Municipal obligations 39,410 235 38 39,607 13,995 186 5 14,176 Mortgage-backed securities 1,750,168 19,387 11,182 1,758,373 1,217,293 31,094 2,823 1,245,564 Collateralized mortgage obligations 291,085 140 2,192 289,033 88,093 — 1,229 86,864 Corporate debt securities 3,500 — — 3,500 3,500 — — 3,500 Equity securities 2,447 358 48 2,757 8,673 891 11 9,553 $ 2,086,745 $ 20,120 $ 13,461 $ 2,093,404 $ 1,631,761 $ 32,543 $ 4,139 $ 1,660,165 Securities Held to Maturity December 31, 2015 December 31, 2014 in thousands Amortized Gross Gross Fair Value Amortized Gross Gross Fair Value U.S. Treasury and government agency securities $ 50,000 $ — $ 410 $ 49,590 $ — $ — $ — $ — Municipal obligations 185,890 3,475 1,166 188,199 180,615 3,416 1,144 182,887 Mortgage-backed securities 1,014,135 15,585 1,589 1,028,131 899,923 23,897 162 923,658 Collateralized mortgage obligations 1,120,363 2,244 12,676 1,109,931 1,085,751 5,590 11,546 1,079,795 $ 2,370,388 $ 21,304 $ 15,841 $ 2,375,851 $ 2,166,289 $ 32,903 $ 12,852 $ 2,186,340 The following table presents the amortized cost and fair value of debt securities at December 31, 2015 by contractual maturity. 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 collateral mortgage obligations. in thousands Amortized Fair Value Debt Securities Available for Sale Due in one year or less $ 42,807 $ 41,901 Due after one year through five years 71,342 72,447 Due after five years through ten years 322,891 330,327 Due after ten years 1,647,258 1,645,972 Total available for sale debt securities $ 2,084,298 $ 2,090,647 in thousands Amortized Fair Value Debt Securities Held to Maturity Due in one year or less $ 113,296 $ 111,710 Due after one year through five years 430,315 425,060 Due after five years through ten years 137,021 136,244 Due after ten years 1,689,756 1,702,837 Total held to maturity debt securities $ 2,370,388 $ 2,375,851 The Company held no securities classified as trading at December 31, 2015 or 2014. The details for securities classified as available for sale with unrealized losses as of December 31, 2015 follow: Available for sale Losses < 12 months Losses 12 months or > Total in thousands Fair Value Gross Fair Value Gross Fair Value Gross U.S. Treasury and government agency securities $ — $ — $ 82 $ 1 $ 82 $ 1 Municipal obligations 8,296 38 — — 8,296 38 Mortgage-backed securities 831,156 8,257 116,126 2,925 947,282 11,182 Collateralized mortgage obligations 208,397 1,257 33,138 935 241,535 2,192 Equity securities 20 1 1,473 47 1,493 48 $ 1,047,869 $ 9,553 $ 150,819 $ 3,908 $ 1,198,688 $ 13,461 The details for securities classified as available for sale with unrealized losses as of December 31, 2014 follow: Available for sale Losses < 12 months Losses 12 months or > Total in thousands Fair Value Gross Fair Value Gross Fair Value Gross U.S. Treasury and government agency securities $ 99,950 $ 70 $ 121 $ 1 $ 100,071 $ 71 Municipal obligations 2,995 5 — — 2,995 5 Mortgage-backed securities 38,955 163 125,641 2,660 164,596 2,823 Collateralized mortgage obligations — — 86,864 1,229 86,864 1,229 Equity securities 5,998 10 3 1 6,001 11 $ 147,898 $ 248 $ 212,629 $ 3,891 $ 360,527 $ 4,139 The details for securities classified as held to maturity with unrealized losses as of December 31, 2015 follow: Held to maturity Losses < 12 months Losses 12 months or > Total in thousands Fair Value Gross Fair Value Gross Fair Value Gross U.S. Treasury and government agency securities $ 45,590 $ 410 $ — $ — $ 45,590 $ 410 Municipal obligations 22,652 301 48,727 865 71,379 1,166 Mortgage-backed securities 349,635 1,589 — — 349,635 1,589 Collateralized mortgage obligations 516,330 2,894 370,756 9,782 887,086 12,676 $ 934,207 $ 5,194 $ 419,483 $ 10,647 $ 1,353,690 $ 15,841 The details for securities classified as held to maturity with unrealized losses as of December 31, 2014 follow: Held to maturity Losses < 12 months Losses 12 months or > Total in thousands Fair Value Gross Fair Value Gross Fair Value Gross Municipal obligations $ 4,316 $ 12 $ 58,105 $ 1,132 $ 62,421 $ 1,144 Mortgage-backed securities — — 95,522 162 95,522 162 Collateralized mortgage obligations 119,222 616 540,607 10,930 659,829 11,546 $ 123,538 $ 628 $ 694,234 $ 12,224 $ 817,772 $ 12,852 The unrealized losses primarily 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 $6.6 million in 2015, $1.5 million in 2014, and $0.2 million in 2013. Realized gross gains and losses, computed through specific identification, were insignificant. The net carrying amount of held to maturity securities that were sold in 2015 was $2.6 million with an associated realized gain of $0.2 million. The securities were sold because they were downgraded, and there was a concern that they would fall below the Company’s investment grade policy threshold. Securities with carrying values totaling approximately $3.5 billion at December 31, 2015 and $3.2 billion at December 31, 2014 were pledged primarily to secure public deposits or sold under agreements to repurchase. |
Loans
Loans | 12 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Loans | Note 3. Loans 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 distinction between the originated, acquired and FDIC acquired loans presented here and certain significant accounting policies relevant to each category are discussed in detail in Note 1. Loans acquired in an FDIC-assisted transaction include non-single family loans covered by a loss share agreement that expired at December 31, 2014. As of December 31, 2015, $170.1 million of FDIC acquired loans remain covered by the single family loss share agreement, providing considerable protection against credit risk. Loans, net of unearned income, consisted of the following: (in thousands) December 31, December 31, Originated loans: Commercial non-real estate $ 6,930,453 $ 5,917,728 Construction and land development 1,139,743 1,073,964 Commercial real estate 3,220,509 2,428,195 Residential mortgages 1,887,256 1,704,770 Consumer 2,080,626 1,685,542 Total originated loans $ 15,258,587 $ 12,810,199 Acquired loans: Commercial non-real estate $ 59,843 $ 120,137 Construction and land development 5,080 21,123 Commercial real estate 176,460 688,045 Residential mortgages 27 2,378 Consumer 20 985 Total acquired loans $ 241,430 $ 832,668 FDIC acquired loans: Commercial non-real estate $ 5,528 $ 6,195 Construction and land development 7,127 11,674 Commercial real estate 15,582 27,808 Residential mortgages 162,241 187,033 Consumer 12,819 19,699 Total FDIC acquired loans $ 203,297 $ 252,409 Total loans: Commercial non-real estate $ 6,995,824 $ 6,044,060 Construction and land development 1,151,950 1,106,761 Commercial real estate 3,412,551 3,144,048 Residential mortgages 2,049,524 1,894,181 Consumer 2,093,465 1,706,226 Total loans $ 15,703,314 $ 13,895,276 The Bank makes loans in the normal course of business to directors and executive officers of the Company and the Bank 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, 2015 and 2014 were approximately $17.4 million and $16.2 million, respectively. Related party loan activity for 2015 includes new loans of $18.3 million, repayments of $16.5 million, and a net balance reduction of ($0.6 million) related to changes in directors and executive officers and their associates. The following schedules show activity in the allowance for loan losses for 2015 and 2014 by portfolio segment and the corresponding recorded investment in loans as of December 31, 2015 and December 31, 2014. Commercial Construction Commercial Residential Consumer Total (in thousands) Year Ended December 31, 2015 Originated loans Allowance for loan losses: Beginning balance $ 50,258 $ 5,413 $ 16,544 $ 8,051 $ 17,435 $ 97,701 Charge-offs (6,934 ) (2,424 ) (1,482 ) (1,635 ) (16,688 ) (29,163 ) Recoveries 3,342 2,179 2,405 687 4,338 12,951 Net provision for loan losses 62,316 (183 ) (3,408 ) 587 17,225 76,537 Ending balance $ 108,982 $ 4,985 $ 14,059 $ 7,690 $ 22,310 $ 158,026 Ending balance: Individually evaluated for impairment $ 19,031 $ 392 $ 1,372 $ 127 $ 33 $ 20,955 Collectively evaluated for impairment 89,951 4,593 12,687 7,563 22,277 137,071 Loans: Ending balance: $ 6,930,453 $ 1,139,743 $ 3,220,509 $ 1,887,256 $ 2,080,626 $ 15,258,587 Individually evaluated for impairment 81,622 14,226 14,191 895 152 111,086 Collectively evaluated for impairment 6,848,831 1,125,517 3,206,318 1,886,361 2,080,474 15,147,501 Acquired loans Allowance for loan losses: Beginning balance $ — $ — $ 477 $ — $ — $ 477 Charge-offs — — — — — — Recoveries — — — — — — Net provision for loan losses — — (444 ) — — (444 ) Ending balance $ — $ — $ 33 $ — $ — $ 33 Ending balance: Individually evaluated for impairment $ — $ — $ 33 $ — $ — $ 33 Amounts related to acquired-impaired loans — — — — — — Collectively evaluated for impairment — — — — — — Loans: Ending balance: $ 59,843 $ 5,080 $ 176,460 $ 27 $ 20 $ 241,430 Individually evaluated for impairment — — 2,340 — — 2,340 Acquired-impaired loans 6,476 4,976 11,042 27 20 22,541 Collectively evaluated for impairment 53,367 104 163,078 — — 216,549 Commercial Construction Commercial Residential Consumer Total (in thousands) Year Ended December 31, 2015 FDIC acquired loans Allowance for loan losses: Beginning balance $ 911 $ 1,008 $ 4,061 $ 20,609 $ 3,995 $ 30,584 Charge-offs (1,427 ) (410 ) (2,743 ) (772 ) (143 ) (5,495 ) Recoveries 1,704 910 992 84 196 3,886 Net provision for loan losses (1,018 ) (845 ) (1,026 ) 1,147 (1,313 ) (3,055 ) Increase (decrease) in FDIC loss share receivable 276 (6 ) 523 (3,405 ) (188 ) (2,800 ) Ending balance $ 446 $ 657 $ 1,807 $ 17,663 $ 2,547 $ 23,120 Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — Amounts related to acquired-impaired loans 446 657 1,807 17,663 2,547 23,120 Collectively evaluated for impairment — — — — — — Loans: Ending balance: $ 5,528 $ 7,127 $ 15,582 $ 162,241 $ 12,819 $ 203,297 Individually evaluated for impairment — — — — — — Acquired-impaired loans 5,528 7,127 15,582 162,241 12,819 203,297 Collectively evaluated for impairment — — — — — — Total loans Allowance for loan losses: Beginning balance $ 51,169 $ 6,421 $ 21,082 $ 28,660 $ 21,430 $ 128,762 Charge-offs (8,361 ) (2,834 ) (4,225 ) (2,407 ) (16,831 ) (34,658 ) Recoveries 5,046 3,089 3,397 771 4,534 16,837 Net provision for loan losses 61,298 (1,028 ) (4,878 ) 1,734 15,912 73,038 Increase (decrease) in FDIC loss share receivable 276 (6 ) 523 (3,405 ) (188 ) (2,800 ) Ending balance $ 109,428 $ 5,642 $ 15,899 $ 25,353 $ 24,857 $ 181,179 Ending balance: Individually evaluated for impairment $ 19,031 $ 392 $ 1,405 $ 127 $ 33 $ 20,988 Amounts related to acquired-impaired loans 446 657 1,807 17,663 2,547 23,120 Collectively evaluated for impairment 89,951 4,593 12,687 7,563 22,277 137,071 Loans: Ending balance: $ 6,995,824 $ 1,151,950 $ 3,412,551 $ 2,049,524 $ 2,093,465 $ 15,703,314 Individually evaluated for impairment 81,622 14,226 16,531 895 152 113,426 Acquired-impaired loans 12,004 12,103 26,624 162,268 12,839 225,838 Collectively evaluated for impairment 6,902,198 1,125,621 3,369,396 1,886,361 2,080,474 15,364,050 Commercial Construction Commercial Residential Consumer Total (in thousands) Year Ended December 31, 2014 Originated loans Allowance for loan losses: Beginning balance $ 33,091 $ 6,180 $ 20,649 $ 6,892 $ 12,073 $ 78,885 Charge-offs (6,813 ) (4,770 ) (3,579 ) (2,285 ) (14,055 ) (31,502 ) Recoveries 3,047 4,000 1,678 644 5,014 14,383 Net provision for loan losses 20,933 3 (2,204 ) 2,800 14,403 35,935 Ending balance $ 50,258 $ 5,413 $ 16,544 $ 8,051 $ 17,435 $ 97,701 Ending balance: Individually evaluated for impairment $ 14 $ 19 $ 11 $ 330 $ 3 $ 377 Collectively evaluated for impairment 50,244 5,394 16,533 7,721 17,432 97,324 Loans: Ending balance: $ 5,917,728 $ 1,073,964 $ 2,428,195 $ 1,704,770 $ 1,685,542 $ 12,810,199 Individually evaluated for impairment 3,987 8,250 12,121 2,656 6 27,020 Collectively evaluated for impairment 5,913,741 1,065,714 2,416,074 1,702,114 1,685,536 12,783,179 Acquired loans Allowance for loan losses: Beginning balance $ 1,603 $ 10 $ 34 $ — $ — $ 1,647 Charge-offs — — — — — — Recoveries — — — — — — Net provision for loan losses (1,603 ) (10 ) 443 — — (1,170 ) Ending balance $ — $ — $ 477 $ — $ — $ 477 Ending balance: Individually evaluated for impairment $ — $ — $ 477 $ — $ — $ 477 Amounts related to acquired-impaired loans — — — — — — Collectively evaluated for impairment — — — — — — Loans: Ending balance: $ 120,137 $ 21,123 $ 688,045 $ 2,378 $ 985 $ 832,668 Individually evaluated for impairment — — 2,691 — — 2,691 Acquired-impaired loans 8,446 19,681 29,777 2,378 985 61,267 Collectively evaluated for impairment 111,691 1,442 655,577 — — 768,710 Commercial Construction Commercial Residential Consumer Total (in thousands) Year Ended December 31, 2014 FDIC acquired loans Allowance for loan losses: Beginning balance $ 2,323 $ 2,655 $ 10,929 $ 27,989 $ 9,198 $ 53,094 Charge-offs (221 ) (148 ) (5,350 ) (1,008 ) (1,270 ) (7,997 ) Recoveries 485 3,138 1,441 1 431 5,496 Net provision for loan losses (83 ) (208 ) (139 ) (299 ) (196 ) (925 ) Decrease in FDIC loss share receivable (1,593 ) (4,429 ) (2,820 ) (6,074 ) (4,168 ) (19,084 ) Ending balance $ 911 $ 1,008 $ 4,061 $ 20,609 $ 3,995 $ 30,584 Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — Amounts related to acquired-impaired loans 911 1,008 4,061 20,609 3,995 30,584 Collectively evaluated for impairment — — — — — — Loans: Ending balance: $ 6,195 $ 11,674 $ 27,808 $ 187,033 $ 19,699 $ 252,409 Individually evaluated for impairment — — — — — — Acquired-impaired loans 6,195 11,674 27,808 187,033 19,699 252,409 Collectively evaluated for impairment — — — — — — Total loans Allowance for loan losses: Beginning balance $ 37,017 $ 8,845 $ 31,612 $ 34,881 $ 21,271 $ 133,626 Charge-offs (7,034 ) (4,918 ) (8,929 ) (3,293 ) (15,325 ) (39,499 ) Recoveries 3,532 7,138 3,119 645 5,445 19,879 Net provision for loan losses 19,247 (215 ) (1,900 ) 2,501 14,207 33,840 Decrease in FDIC loss share receivable (1,593 ) (4,429 ) (2,820 ) (6,074 ) (4,168 ) (19,084 ) Ending balance $ 51,169 $ 6,421 $ 21,082 $ 28,660 $ 21,430 $ 128,762 Ending balance: Individually evaluated for impairment $ 14 $ 19 $ 488 $ 330 $ 3 $ 854 Amounts related to acquired-impaired loans 911 1,008 4,061 20,609 3,995 30,584 Collectively evaluated for impairment 50,244 5,394 16,533 7,721 17,432 97,324 Loans: Ending balance: $ 6,044,060 $ 1,106,761 $ 3,144,048 $ 1,894,181 $ 1,706,226 $ 13,895,276 Individually evaluated for impairment 3,987 8,250 14,812 2,656 6 29,711 Acquired-impaired loans 14,641 31,355 57,585 189,411 20,684 313,676 Collectively evaluated for impairment 6,025,432 1,067,156 3,071,651 1,702,114 1,685,536 13,551,889 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 FDIC acquired 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 loans. The following schedule shows activity in the FDIC loss share receivable for 2015 and 2014: (in thousands) Years Ended December 31, 2015 2014 Balance, January 1 $ 60,272 $ 113,834 Amortization (5,747 ) (12,102 ) Charge-offs, write-downs and other (recoveries) losses (8,072 ) (2,245 ) External expenses qualifying under loss share agreement 2,677 4,532 Changes due to changes in cash flow projections (2,800 ) (19,084 ) FDIC resolution of denied claims (2,411 ) (10,268 ) Net payments from FDIC (14,051 ) (14,395 ) Balance, December 31 $ 29,868 $ 60,272 Note 1 to the consolidated financial statements discusses the accounting for the loss share receivable. The loss share agreement covering the non-single family FDIC acquired portfolio expired in December 2014. The loss share agreement covering the single family portfolio expires in December 2019. The following table shows the composition of nonaccrual loans by portfolio segment and class. Acquired-impaired and certain FDIC acquired loans are considered to be performing due to the application of the accretion method and are excluded from the table. FDIC acquired loans accounted for using the cost recovery method do not have an accretable yield and are included below as nonaccrual loans. Acquired-performing loans that have subsequently been placed on nonaccrual status are also included below. (in thousands) December 31, 2015 December 31, 2014 Originated loans: Commercial non-real estate $ 88,743 $ 15,511 Construction and land development 17,294 6,462 Commercial real estate 17,824 22,047 Residential mortgages 23,799 21,702 Consumer 9,061 5,574 Total originated loans $ 156,721 $ 71,296 Acquired loans: Commercial non-real estate $ — $ — Construction and land development — — Commercial real estate 2,992 6,139 Residential mortgages — — Consumer — — Total acquired loans $ 2,992 $ 6,139 FDIC acquired loans: Commercial non-real estate $ — $ — Construction and land development — 1,103 Commercial real estate — 433 Residential mortgages — 392 Consumer — 174 Total FDIC acquired loans $ — $ 2,102 Total loans: Commercial non-real estate $ 88,743 $ 15,511 Construction and land development 17,294 7,565 Commercial real estate 20,816 28,619 Residential mortgages 23,799 22,094 Consumer 9,061 5,748 Total loans $ 159,713 $ 79,537 Nonaccrual loans include loans modified in troubled debt restructurings (TDRs) of $8.8 million and $7.0 million, respectively, at December 31, 2015 and 2014. Total TDRs, both accruing and nonaccruing, were $13.1 million at December 31, 2015 and $16.0 million at December 31, 2014. The table below details the TDRs that occurred during 2015 and 2014 by portfolio segment. Substantially all TDRs during 2015 and 2014 were extended amortization or other modification of payment terms. All are individually evaluated for impairment. Troubled Debt Restructurings: Years Ended 2015 2014 Number of Outstanding Recorded Investment Number Contracts Outstanding Recorded Investment ($ in thousands) Pre- Post- Pre- Post- Originated loans: Commercial non-real estate 1 $ 4,420 $ 4,420 1 $ 29 $ 29 Construction and land development — — — — — — Commercial real estate 1 485 482 3 4,488 4,446 Residential mortgages 4 195 185 7 1,961 1,090 Consumer 1 20 20 1 8 8 Total originated loans 7 $ 5,120 $ 5,107 12 $ 6,486 $ 5,573 Acquired loans: Commercial non-real estate — $ — $ — — $ — $ — Construction and land development — — — — — — Commercial real estate — — — — — — Residential mortgages — — — — — — Consumer — — — — — — Total acquired loans — $ — $ — — $ — $ — FDIC acquired loans: Commercial non-real estate — $ — $ — — $ — $ — Construction and land development — — — — — — Commercial real estate — — — — — — Residential mortgages — — — — — — Consumer — — — — — — Total FDIC acquired loans — $ — $ — $ — $ — $ — Total loans: Commercial non-real estate 1 $ 4,420 $ 4,420 1 $ 29 $ 29 Construction and land development — — — — — — Commercial real estate 1 485 482 3 4,488 4,446 Residential mortgages 4 195 185 7 1,961 1,090 Consumer 1 20 20 1 8 8 Total loans 7 $ 5,120 $ 5,107 12 $ 6,486 $ 5,573 No TDRs subsequently defaulted within twelve months of modification in the year ended December 31, 2015. For the year ended December 31, 2014, one originated commercial non-real estate loan with a recorded investment of $0.9 million and one residential mortgage loan with a recorded investment of $0.3 million subsequently defaulted within twelve months of modification. The tables below present loans that are individually evaluated for impairment disaggregated by class at December 31, 2015 and December 31, 2014. Loans individually evaluated for impairment include TDRs and loans that are determined to be impaired and have aggregate relationship balances of $1 million or more. December 31, 2015 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Originated loans: With no related allowance recorded: Commercial non-real estate $ 34,788 $ 37,285 $ — $ 18,860 $ — Construction and land development 12,461 12,461 — 2,459 — Commercial real estate 7,785 8,499 — 10,933 35 Residential mortgages — — — 259 2 Consumer — — — 74 — 55,034 58,245 — 32,585 37 With an allowance recorded: Commercial non-real estate 46,834 47,703 19,031 22,414 11 Construction and land development 1,765 2,323 392 3,049 66 Commercial real estate 6,406 6,413 1,372 12,488 104 Residential mortgages 895 1,405 127 1,359 20 Consumer 152 152 33 45 4 56,052 57,996 20,955 39,355 205 Total: Commercial non-real estate 81,622 84,988 19,031 41,274 11 Construction and land development 14,226 14,784 392 5,508 66 Commercial real estate 14,191 14,912 1,372 23,421 139 Residential mortgages 895 1,405 127 1,618 22 Consumer 152 152 33 119 4 Total originated loans $ 111,086 $ 116,241 $ 20,955 $ 71,940 $ 242 Acquired loans: With an allowance recorded: Commercial non-real estate $ — $ — $ — $ — $ — Construction and land development — — — — — Commercial real estate 2,340 2,382 33 2,244 — Residential mortgages — — — — — Consumer — — — — — 2,340 2,382 33 2,244 — Total: Commercial non-real estate — — — — — Construction and land development — — — — — Commercial real estate 2,340 2,382 33 2,244 — Residential mortgages — — — — — Consumer — — — — — Total acquired loans $ 2,340 $ 2,382 $ 33 $ 2,244 $ — Total loans: With no related allowance recorded: Commercial non-real estate $ 34,788 $ 37,285 $ — $ 18,860 $ — Construction and land development 12,461 12,461 — 2,459 — Commercial real estate 7,785 8,499 — 10,933 35 Residential mortgages — — — 259 2 Consumer — — — 74 — 55,034 58,245 — 32,585 37 With an allowance recorded: Commercial non-real estate 46,834 47,703 19,031 22,414 11 Construction and land development 1,765 2,323 392 3,049 66 Commercial real estate 8,746 8,795 1,405 14,732 104 Residential mortgages 895 1,405 127 1,359 20 Consumer 152 152 33 45 4 58,392 60,378 20,988 41,599 205 Total: Commercial non-real estate 81,622 84,988 19,031 41,274 11 Construction and land development 14,226 14,784 392 5,508 66 Commercial real estate 16,531 17,294 1,405 25,665 139 Residential mortgages 895 1,405 127 1,618 22 Consumer 152 152 33 119 4 Total loans $ 113,426 $ 118,623 $ 20,988 $ 74,184 $ 242 December 31, 2014 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Originated loans: With no related allowance recorded: Commercial non-real estate $ 3,003 $ 3,646 $ — $ 1,209 $ 51 Construction and land development 3,345 6,486 — 3,330 142 Commercial real estate 8,467 10,575 — 8,461 331 Residential mortgages — — — 88 3 Consumer — — — — — 14,815 20,707 — 13,088 527 With an allowance recorded: Commercial non-real estate 984 984 14 5,522 99 Construction and land development 4,905 4,906 19 6,660 137 Commercial real estate 3,654 3,654 11 7,500 109 Residential mortgages 2,656 3,311 330 2,204 50 Consumer 6 6 3 1 — 12,205 12,861 377 21,887 395 Total: Commercial non-real estate 3,987 4,630 14 6,732 150 Construction and land development 8,250 11,392 19 9,990 279 Commercial real estate 12,121 14,229 11 15,961 439 Residential mortgages 2,656 3,311 330 2,292 53 Consumer 6 6 3 1 — Total originated loans $ 27,020 $ 33,568 $ 377 $ 34,976 $ 921 Acquired loans: With no related allowance recorded: Commercial non-real estate $ — $ — $ — $ 357 $ — Construction and land development — — — 121 — Commercial real estate — — — 311 — Residential mortgages — — — 88 — Consumer — — — — — — — — 877 — With an allowance recorded: Commercial non-real estate — — — 1,059 122 Construction and land development — — — 1,037 56 Commercial real estate 2,691 2,720 477 1,357 75 Residential mortgages — — — — — Consumer — — — — — 2,691 2,720 477 3,453 253 Total: Commercial non-real estate — — — 1,416 122 Construction and land development — — — 1,158 56 Commercial real estate 2,691 2,720 477 1,668 75 Residential mortgages — — — 88 — Consumer — — — — — Total acquired loans $ 2,691 $ 2,720 $ 477 $ 4,330 $ 253 Total loans: With no related allowance recorded: Commercial non-real estate $ 3,003 $ 3,646 $ — $ 1,566 $ 51 Construction and land development 3,345 6,486 — 3,451 142 Commercial real estate 8,467 10,575 — 8,772 331 Residential mortgages — — — 176 3 Consumer — — — — — 14,815 20,707 — 13,965 527 With an allowance recorded: Commercial non-real estate 984 984 14 6,581 221 Construction and land development 4,905 4,906 19 7,697 193 Commercial real estate 6,345 6,374 488 8,857 184 Residential mortgages 2,656 3,311 330 2,204 50 Consumer 6 6 3 1 — 14,896 15,581 854 25,340 648 Total: Commercial non-real estate 3,987 4,630 14 8,147 272 Construction and land development 8,250 11,392 19 11,148 335 Commercial real estate 14,812 16,949 488 17,629 515 Residential mortgages 2,656 3,311 330 2,380 53 Consumer 6 6 3 1 — Total loans $ 29,711 $ 36,288 $ 854 $ 39,305 $ 1,175 The following table presents the age analysis of past due loans at December 31, 2015 and December 31, 2014. FDIC acquired and acquired-impaired loans with an accretable yield are considered to be current in the following delinquency table: December 31, 2015 30-59 days past due 60-89 days past due Greater than 90 days past due Total past due Current Total Loans Recorded investment > 90 days and accruing (in thousands) Originated loans: Commercial non-real estate $ 17,406 $ 1,468 $ 25,007 $ 43,881 $ 6,886,572 $ 6,930,453 $ 3,060 Construction and land development 19,886 436 4,043 24,365 1,115,378 1,139,743 1,230 Commercial real estate 6,754 1,329 12,503 20,586 3,199,923 3,220,509 1,034 Residential mortgages 18,657 4,360 11,840 34,857 1,852,399 1,887,256 163 Consumer 16,309 4,432 8,645 29,386 2,051,240 2,080,626 2,166 Total $ 79,012 $ 12,025 $ 62,038 $ 153,075 $ 15,105,512 $ 15,258,587 $ 7,653 Acquired loans: Commercial non-real estate $ — $ — $ — $ — $ 59,843 $ 59,843 $ — Construction and land development — — — — 5,080 5,080 — Commercial real estate 15 76 525 616 175,844 176,460 — Residential mortgages — — — — 27 27 — Consumer — — — — 20 20 — Total $ 15 $ 76 $ 525 $ 616 $ 240,814 $ 241,430 $ — FDIC acquired loans: Commercial non-real estate $ — $ — $ — $ — $ 5,528 $ 5,528 $ — Construction and land development — — — — 7,127 7,127 — Commercial real estate — — — — 15,582 15,582 — Residential mortgages — — — — 162,241 162,241 — Consumer — — — — 12,819 12,819 — Total $ — $ — $ — $ — $ 203,297 $ 203,297 $ — Total loans: Commercial non-real estate $ 17,406 $ 1,468 $ 25,007 $ 43,881 $ 6,951,943 $ 6,995,824 $ 3,060 Construction and land development 19,886 436 4,043 24,365 1,127,585 1,151,950 1,230 Commercial real estate 6,769 1,405 13,028 21,202 3,391,349 3,412,551 1,034 Residential mortgages 18,657 4,360 11,840 34,857 2,014,667 2,049,524 163 Consumer 16,309 4,432 8,645 29,386 2,064,079 2,093,465 2,166 Total $ 79,027 $ 12,101 $ 62,563 $ 153,691 $ 15,549,623 $ 15,703,314 $ 7,653 December 31, 2014 30-59 days past due 60-89 days past due Greater than 90 days past due Total past due Current Total Loans Recorded investment > 90 days and accruing (in thousands) Originated loans: Commercial non-real estate $ 4,380 $ 1,742 $ 8,560 $ 14,682 $ 5,903,046 $ 5,917,728 $ 630 Construction and land development 6,620 1,532 4,453 12,605 1,061,359 1,073,964 142 Commercial real estate 6,527 2,964 13,234 22,725 2,405,470 2,428,195 696 Residential mortgages 14,730 3,261 11,208 29,199 1,675,571 1,704,770 1,199 Consumer 8,422 2,450 4,365 15,237 1,670,305 1,685,542 1,897 Total $ 40,679 $ 11,949 $ 41,820 $ 94,448 $ 12,715,751 $ 12,810,199 $ 4,564 Acquired loans: Commercial non-real estate $ — $ — $ — $ — $ 120,137 $ 120,137 $ — Construction and land development 111 — — 111 21,012 21,123 — Commercial real estate 3,861 282 1,591 5,734 682,311 688,045 261 Residential mortgages — — — — 2,378 2,378 — Consumer — — — — 985 985 — Total $ 3,972 $ 282 $ 1,591 $ 5,845 $ 826,823 $ 832,668 $ 261 FDIC acquired loans: Commercial non-real estate $ — $ — $ — $ — $ 6,195 $ 6,195 $ — Construction and land development — — 1,103 1,103 10,571 11,674 — Commercial real estate — — 433 433 27,375 27,808 — Residential mortgages — 272 — 272 186,761 187,033 — Consumer 1 — 34 35 19,664 19,699 — Total $ 1 $ 272 $ 1,570 $ 1,843 $ 250,566 $ 252,409 $ — Total loans: Commercial non-real estate $ 4,380 $ 1,742 $ 8,560 $ 14,682 $ 6,029,378 $ 6,044,060 $ 630 Construction and land development 6,731 1,532 5,556 13,819 1,092,942 1,106,761 142 Commercial real estate 10,388 3,246 15,258 28,892 3,115,156 3,144,048 957 Residential mortgages 14,730 3,533 11,208 29,471 1,864,710 1,894,181 1,199 Consumer 8,423 2,450 4,399 15,272 1,690,954 1,706,226 1,897 Total $ 44,652 $ 12,503 $ 44,981 $ 102,136 $ 13,793,140 $ 13,895,276 $ 4,825 The following table presents the credit quality indicators of the Company’s various classes of loans at December 31, 2015 and December 31, 2014. Commercial Non-Real Estate Loans Credit Risk Profile by Internally Assigned Grade December 31, 2015 December 31, 2014 (in thousands) Originated Acquired FDIC acquired Total Originated Acquired FDIC acquired Total Grade: Pass $ 6,205,372 $ 53,381 $ 2,110 $ 6,260,863 $ 5,577,827 $ 111,847 $ 2,027 $ 5,691,701 Pass-Watch 167,720 — 869 168,589 174,742 715 1,120 176,577 Special Mention 211,230 — — 211,230 52,962 350 — 53,312 Substandard 346,087 6,462 2,549 355,098 112,153 7,225 3,017 122,395 Doubtful 44 — — 44 44 — 31 75 Total $ 6,930,453 $ 59,843 $ 5,528 $ 6,995,824 $ 5,917,728 $ 120,137 $ 6,195 $ 6,044,060 Construction Loans Credit Risk Profile by Internally Assigned Grade December 31, 2015 December 31, 2014 (in thousands) Originated Acquired FDIC acquired Total Originated Acquired FDIC acquired Total Grade: Pass $ 1,092,299 $ 910 $ 2,087 $ 1,095,296 $ 1,012,128 $ 14,377 $ 2,468 $ 1,028,973 Pass-Watch 5,709 223 909 6,841 21,516 432 532 22,480 Special Mention 12,017 — 280 12,297 7,097 129 319 7,545 Substandard 29,718 3,947 3,851 37,516 33,223 6,185 8,355 47,763 Total $ 1,139,743 $ 5,080 $ 7,127 $ 1,151,950 $ 1,073,964 $ 21,123 $ 11,674 $ 1,106,761 Commercial Real Estate Loans Credit Risk Profile by Internally Assigned Grade December 31, 2015 December 31, 2014 (in thousands) Originated Acquired FDIC acquired Total Originated Acquired FDIC acquired Total Grade: Pass $ 3,058,342 $ 159,750 $ 3,117 $ 3,221,209 $ 2,241,391 $ 641,966 $ 4,139 $ 2,887,496 Pass-Watch 41,830 2,355 2,296 46,481 61,589 11,142 4,547 77,278 Special Mention 40,576 5,112 1,364 47,052 21,543 8,113 1,319 30,975 Substandard 79,745 9,243 8,805 97,793 103,651 26,824 17,803 148,278 Doubtful 16 — — 16 21 — — 21 Total $ 3,220,509 $ 176,460 $ 15,582 $ 3,412,551 $ 2,428,195 $ 688,045 $ 27,808 $ 3,144,048 Residential Mortgage Loans Credit Risk Profile Based on Payment Activity and Accrual Status December 31, 2015 December 31, 2014 (in thousands) Originated Acquired FDIC acquired Total Originated Acquired FDIC acquired Total Performing $ 1,863,295 $ 27 $ 162,241 $ 2,025,563 $ 1,681,868 $ 2,378 $ 186,641 $ 1,870,887 Nonperforming 23,961 — — 23,961 22,902 — 392 23,294 Total $ 1,887,256 $ 27 $ 162,241 $ 2,049,524 $ 1,704,770 $ 2,378 $ 187,033 $ 1,894,181 Consumer Loans Credit Risk Profile Based on Payment Activity and Accrual Status December 31, 2015 December 31, 2014 (in thousands) Originated Acquired FDIC acquired Total Originated Acquired FDIC acquired Total Performing $ 2,069,399 $ 20 $ 12,819 $ 2,082,238 $ 1,678,069 $ 985 $ 19,525 $ 1,698,579 Nonperforming 11,227 — — 11,227 7,473 — 174 7,647 Total $ 2,080,626 $ 20 $ 12,819 $ 2,093,465 $ 1,685,542 $ 985 $ 19,699 $ 1,706,226 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 - a criticized asset category defined as having potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may, at some future date, result in the deterioration of the repayment prospects for the credit or the institution’s credit position. Special mention credits are not considered part of the Classified credit categories and do not expose an institution to sufficient risk to warrant adverse classification. • Substandard - an asset that is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. • Doubtful - an asset that has all the weaknesses inherent in one classified Substandard with the added characteristic that the weaknesses make collection nor liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and 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. • Nonperforming - a nonperforming 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 nonaccrual loans are also classified as nonperforming. Credit Review uses a risk-focused continuous monitoring program that provides for an independent, objective and timely review of credit risk within the Company. Changes in the carrying amount of acquired-impaired loans and accretable yield are presented in the following table for the years ended December 31, 2015 and 2014: December 31, 2015 December 31, 2014 FDIC acquired Acquired FDIC acquired Acquired (in thousands) Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Accretable Yield Balance at beginning of period $ 252,409 $ 112,788 $ 61,276 $ 74,668 $ 358,666 $ 122,715 $ 68,075 $ 131,370 Payments received, net (62,579 ) (422 ) (53,268 ) (21,556 ) (125,388 ) (1,071 ) (50,178 ) (32,855 ) Accretion 13,467 (13,467 ) 14,533 (14,533 ) 19,131 (19,131 ) 43,379 (43,379 ) Decrease in expected cash flows based on actual cash flow and changes in cash flow assumptions — (3,537 ) — (701 ) — (1,137 ) — (203 ) Net transfers from nonaccretable difference to accretable yield — (3,798 ) — 46 — 11,412 — 19,735 Balance at end of period $ 203,297 $ 91,564 $ 22,541 $ 37,924 $ 252,409 $ 112,788 $ 61,276 $ 74,668 Loans Held for Sale Loans held for sale totaled $20.4 million and $20.3 million, respectively, at December 31, 2015 and 2014. 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 Bank’s commitment to the borrower to originate the loan. Residential Mortgage Loans in Process of Foreclosure Included in loans are $7.4 million and $13.7 million of consumer loans secured by single family residential mortgage real estate that are in process of foreclosure as of December 31, 2015 and December 31, 2014, respectively. Of these loans, $4.1 million and $8.1 million, respectively, are covered by an FDIC loss share agreement that provides significant protection against losses. Loans in process of foreclosure include those for which formal foreclosure proceedings are in process according to local requirements of the applicable jurisdiction. In addition to the single family residential real estate loans in process of foreclosure, the Company also held $9.3 million and $12.7 million of foreclosed single family residential properties in other real estate owned as of December 31, 2015 and December 31, 2014, respectively. Of these foreclosed properties, $1.6 million and $8.2 million as of December 31, 2015 and December 31, 2014, respectively, are also covered by the FDIC loss share agreement. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | Note 4. Property and Equipment Property and equipment consisted of the following: December 31, (in thousands) 2015 2014 Land and land improvements $ 81,940 $ 86,039 Buildings and leasehold improvements 339,309 348,450 Furniture, fixtures and equipment 95,364 90,244 Software 65,383 57,305 Assets under development 4,782 9,873 586,778 591,911 Accumulated depreciation and amortization (209,763 ) (193,527 ) Property and equipment, net $ 377,015 $ 398,384 Depreciation and amortization expense was $28.8 million, $30.3 million and $32.1 million for the years ended December 31, 2015, 2014 and 2013, respectively. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Note 5. 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 carrying amount of goodwill was $621.2 million at both December 31, 2015 and 2014. The Company completed its annual goodwill impairment test as of September 30, 2015 and concluded that there was no impairment of goodwill. However, several events occurred during the fourth quarter which indicated that there may be impairment. These events included the continued decline in crude oil prices, a decline in the Company’s stock price and market capitalization, and an unusually large fourth quarter loan loss provision. As a result, management tested for goodwill impairment as of December 31, 2015. The Company used multiple approaches to measure its fair value at December 31, 2015. These included an income approach using the discounted net present value of estimated future cash flows, a transaction or price-to-book multiple approach using the actual price paid by similar companies in recent acquisition transactions and a market capitalization approach using both the Company’s actual market capitalization at December 31, 2015 and an estimated market capitalization using a price-to-earnings multiple based off the Company’s 2016 forecast. The results from each of the approaches were relatively similar with little disparity and were combined and weighted to derive an estimated fair market value for the Company. Equal weightings were given to the income approach, the transaction approach and the market capitalization approach using 2016 forecasted earnings and a lower weighting given to the current market capitalization approach as management believes the Company’s current market capitalization is temporarily depressed due to the depressed energy sector. The weighted approach resulted in a fair market value approximately 15% higher than book at December 31, 2015. Each of the valuation techniques used by the Company requires significant assumptions. Depending upon the specific approach, assumptions are made concerning the economic environment, expected net interest margins, growth rates, discount rates for cash flows, control premiums, price-to-earnings multiples, and price-to-book multiples. Also, assumptions are made to determine the appropriate individual weighting to be used for each approach in determining the fair market value. Changes to any one of these assumptions could result in significantly different results. No goodwill impairment charges were recognized during 2015, 2014, or 2013. Identifiable intangible assets with finite lives are amortized over the periods benefited and are evaluated for impairment similar to other long-lived assets. In 2015, the Company eliminated the $1.1 million remaining carrying value of CDI in conjunction with the sale of four Houston, Texas branches on March 27, 2015. The carrying value of intangible assets subject to amortization was as follows: December 31, 2015 (in thousands) Purchase Accumulated Carrying Core deposit intangibles $ 190,655 $ 97,026 $ 93,629 Credit card and trust relationships 22,400 12,735 9,665 Trade name 11,722 11,722 — Merchant processing relationships 10,000 5,756 4,244 $ 234,777 $ 127,239 $ 107,538 December 31, 2014 (in thousands) Purchase Accumulated Carrying Core deposit intangibles $ 198,002 $ 85,254 $ 112,748 Credit card and trust relationships 22,400 10,366 12,034 Non-compete agreements 400 400 — Trade name 11,722 9,334 2,388 Merchant processing relationships 10,000 4,360 5,640 $ 242,524 $ 109,714 $ 132,810 Years Ended December 31, (in thousands) 2015 2014 2013 Aggregate amortization expense for: Core deposit intangibles $ 18,031 $ 19,897 $ 21,905 Credit card and trust relationships 2,369 2,566 2,819 Value of insurance business acquired — 34 148 Non-compete agreements — 100 200 Trade name 2,388 2,605 2,605 Merchant processing relationships 1,396 1,595 1,793 $ 24,184 $ 26,797 $ 29,470 The weighted-average remaining life of core deposit intangibles is 10 years. The weighted-average remaining life of other identifiable intangibles is 8 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): 2016 $ 19,782 2017 17,814 2018 15,842 2019 13,328 2020 10,529 Thereafter 30,243 $ 107,538 |
Time Deposits
Time Deposits | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Time Deposits | Note 6. Time Deposits The maturity of time deposits at December 31, 2015 follows: (in thousands) 2016 $ 1,419,164 2017 557,833 2018 169,604 2019 67,636 2020 17,297 Thereafter 9,750 Total time deposits $ 2,241,284 Certificates of deposits of more than $250,000 totaled approximately $574 million at December 31, 2015. |
Short-Term Borrowings
Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | Note 7. Short-Term Borrowings The following table presents information concerning short-term borrowings: December 31, (in thousands) 2015 2014 Federal funds purchased: Amount outstanding at period-end $ 10,100 $ 12,000 Average amount outstanding during period 15,992 12,196 Maximum amount at any month-end during period 13,675 12,000 Weighted-average interest at period-end 0.13 % 0.13 % Weighted-average interest rate during period 0.26 % 0.25 % Securities sold under agreements to repurchase: Amount outstanding at period-end $ 513,544 $ 624,573 Average amount outstanding during period 539,169 688,704 Maximum amount at any month-end during period 609,671 816,617 Weighted-average interest at period-end 0.03 % 0.03 % Weighted-average interest rate during period 0.03 % 0.27 % FHLB borrowings: Amount outstanding at period-end $ 900,000 $ 515,000 Average amount outstanding during period 469,973 304,781 Maximum amount at any month-end during period 900,000 565,000 Weighted-average interest at period-end 0.32 % 0.12 % Weighted-average interest rate during period 0.18 % 0.15 % Federal funds purchased represent unsecured borrowings from other banks, generally on an overnight basis. Securities sold under agreements to repurchase (“repurchase agreements”) are funds borrowed on a secured basis by selling securities under agreements to repurchase, mainly in connection with treasury-management services offered to deposit customers. The customer repurchase agreements mature daily and were secured by agency securities. As the Company maintains effective control over assets sold under agreements to repurchase, the securities continue to be carried on the consolidated statements of financial condition. Because the Company acts as borrower transferring assets to the counterparty, and the agreements mature daily, the Company’s risk is very limited. The $900 million of FHLB borrowings at December 31, 2015, consist of four $225 million variable-rate term notes, two maturing in 2017 and two maturing in 2020. These notes re-price monthly. At the Company’s option, the notes may be re-paid, either in whole or in-part, on any monthly re-pricing date subject to a two week advanced notice requirement, and therefore are classified as short-term borrowings. All other FHLB borrowings held had stated maturities of three months or less. |
Long-term Debt
Long-term Debt | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Long-term Debt | Note 8. Long-term Debt Long-term debt consisted of the following: December 31, (in thousands) 2015 2014 Subordinated notes payable, maturing June 2045 $ 150,000 $ — Subordinated notes payable, maturing April 2017 98,011 98,011 Term note payable, maturing December 2018 125,000 — Term note payable, maturing December 2015 — 149,600 Other long-term debt 122,988 126,760 Total long-term debt $ 495,999 $ 374,371 On March 9, 2015, the Company completed the issuance of subordinated notes payable with an aggregate principal amount of $150 million, maturing on June 15, 2045. These notes accrue interest at a fixed rate of 5.95% per annum, with quarterly interest payments which began in June 2015. Subject to prior approval by the Federal Reserve, the Company may redeem the notes in whole or in part on any interest payment date on or after June 15, 2020. This debt qualifies as Tier 2 capital in the calculation of certain regulatory capital ratios. The subordinated notes payable maturing April 2017 accrue interest at a fixed rate of 5.875% per annum. As of December 31, 2015, 20% of the balance of these notes qualifies as capital in the calculation of certain regulatory capital ratios. The notes will no longer qualify as capital as of April 1, 2016. On December 18, 2015, the Company entered a senior unsecured single-draw term loan facility totaling $125 million, all of which was borrowed on the closing date. Amounts borrowed under the loan facility bear interest at a variable rate based on LIBOR plus 1.50% per annum. The loan agreement requires quarterly principal payments of $4.5 million, and outstanding borrowings may be prepaid in whole or in part at any time prior to the December 18, 2018 maturity date without premium or penalty, subject to reimbursement of certain lenders’ costs. On December 21, 2012, the Company entered into a three-year term loan agreement that provided for a $220 million term loan facility, all of which was borrowed on the closing date. The agreement also provided 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 bore interest at a variable rate based on LIBOR plus 1.875% per annum. This facility was paid in full at maturity in December 2015 using the proceeds from the new debt acquired on December 18, 2015. The Company must satisfy certain financial covenants and is subject to other restrictions customary in financings, none of which are expected to adversely impact the operations of the Company. 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, 2015. Substantially all of the other long-term debt consists of borrowings associated with tax credit fund activities. Although these borrowings have indicated maturities through 2053, they are expected to be paid off at the end of the seven-year compliance period for the related tax credit investments. |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | Note 9. 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 select pools of variable rate loans. The Bank has also entered into interest rate derivative agreements as a service to certain qualifying customers. The Bank manages a matched book with respect to these customer derivatives in order to minimize their net risk exposure resulting from such agreements. The Bank also enters 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 of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets as of December 31, 2015 and 2014. Fair Values (1) Notional Amounts Assets Liabilities (in thousands) Type of December 31, December 31, December 31, December 31, December 31, December 31, Derivatives designated as hedging instruments: Interest rate swaps Cash Flow $ 500,000 $ 300,000 $ — $ — $ 281 $ 592 $ 500,000 $ 300,000 $ — $ — $ 281 $ 592 Derivatives not designated as hedging instruments: Interest rate swaps (2) N/A $ 780,871 $ 747,754 $ 20,622 $ 17,806 $ 21,007 $ 18,419 Risk participation agreements N/A 83,430 80,438 83 125 162 208 Forward commitments to sell residential mortgage loans N/A 55,128 52,238 263 80 336 250 Interest rate-lock commitments on residential mortgage loans N/A 38,853 33,068 243 111 167 44 Foreign exchange forward contracts N/A 44,068 89,432 2,040 1,310 2,015 1,347 $ 1,002,350 $ 1,002,930 $ 23,251 $ 19,432 $ 23,687 $ 20,268 (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 is party to two interest rate swap agreements – one with a notional amount of $300 million and the second with a notional amount of $200 million. For both agreements, the Company receives interest at a fixed rate and pays at a variable rate. The derivative instrument represented by these swap agreements were designated as and qualify as cash flow hedges of the Company’s forecasted variable cash flows for a pool of variable rate loans. The $300 million swap agreement expires in January, 2017 and the $200 million swap agreement expires in June, 2017. During the term of the swap agreements, the effective portion of changes in the fair value of the derivative instruments are recorded in AOCI and subsequently reclassified into earnings in the periods that the hedged forecasted variable-rate interest payments affects earnings. The impact on AOCI is reflected in footnote 10. 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 Bank enters into interest rate derivative agreements, primarily rate swaps, with commercial banking customers to facilitate their risk management strategies. The Bank enters into offsetting agreements with unrelated financial institutions, thereby mitigating its net interest rate 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 Bank also enters into risk participation agreements under which it may either assume or sell credit risk associated with a borrower’s performance under certain interest rate derivative contracts. In those instances where the Bank has assumed credit risk, it is not a direct counterparty to the derivative contract with the borrower and have entered into the risk participation agreement because it is a party to the related loan agreement with the borrower. In those instances in which the Bank has sold credit risk, it is the sole counterparty to the derivative contract with the borrower and has entered into the risk participation agreement because other banks participate in the related loan agreement. The Bank manages its credit risk under risk participation agreements by monitoring the creditworthiness of the borrower, based on the Bank’s normal credit review process. Mortgage banking derivatives The Bank also enters 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 Bank enters into foreign exchange forward derivative agreements, primarily forward currency contracts, with commercial banking customers to facilitate their risk management strategies. The Bank manages its 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 Derivative income consisting primarily of customer interest rate swap fees, net of fair value adjustments, is reflected in the income statement in other noninterest income, totaling $2.7 million, $1.6 million and $4.7 million for the years ended December 31, 2015, 2014 and 2013, respectively. The impact to interest income from cash flow hedges was $2.1 million and $0.3 million for the years ended December 31, 2015 and 2014, respectively. There was no impact to interest income from derivatives for the year ended December 31, 2013. Credit Risk-Related Contingent Features Certain of the Bank’s derivative instruments contain provisions allowing the financial counterparty to terminate the contracts in certain circumstances, such as the downgrade of the Bank’s credit ratings below specified levels, a default by the Bank on its indebtedness, or the failure of the 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, 2015, the aggregate fair value of derivative instruments with credit-risk-related contingent features that were in a net liability position was $20.8 million, for which the Bank had posted collateral of $23.7 million. Offsetting Assets and Liabilities The Bank’s derivative instruments to certain counterparties contain legally enforceable netting provisions that allow for net settlement of multiple transactions to a single amount, which may be positive, negative, or zero. Offsetting information in regards to derivative assets and liabilities subject to these master netting agreements at December 31, 2015 and December 31, 2014 is presented in the following tables: As of December 31, 2015 Gross Gross the Net Amounts in the Gross Amounts Not Offset in the (in thousands) Financial Cash Net Derivative Assets $ 224 $ — $ 224 $ 224 $ — $ — Derivative Liabilities $ 21,034 $ — $ 21,034 $ 224 $ 23,482 $ (2,672 ) As of December 31, 2014 Gross Gross the Statement Net Amounts in the Gross Amounts Not Offset in the (in thousands) Financial Cash Net Derivative Assets $ 650 $ — $ 650 $ 650 $ — $ — Derivative Liabilities $ 16,771 $ — $ 16,771 $ 650 $ 17,343 $ (1,222 ) The company has excess collateral compared to total exposure due to initial margin requirements for day-to-day rate volatility. The information presented in the Offsetting Assets and Liabilities table in the prior year annual report included derivative assets and liabilities for customer swap agreements that were not subject to netting agreements. The prior period balances reflected in the preceding table have been revised to include only derivative instruments subject to netting agreements. The change in the disclosures was not considered material to the previously issued financial statements. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Stockholders' Equity | Note 10. Stockholders’ Equity Stock Repurchase Program On August 28, 2015, the Company’s Board of Directors approved a stock repurchase plan that authorizes the repurchase of up to 5%, or approximately 3.9 million shares of its outstanding common stock. The approved plan allows the Company to repurchase its common shares either in the open market in compliance with Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended, or in privately negotiated transactions with non-affiliated sellers or as otherwise determined by the Company from time to time until September 30, 2016. Under this plan, the Company has repurchased 741,393 shares of its common stock at an average price of $27.44 per share through December 31, 2015. In March 2015, the Company completed the prior stock repurchase program that had been approved by the Company’s Board of Directors on July 16, 2014 which authorized the repurchase of up to 5%, or approximately 4.1 million shares, of its outstanding common stock. Under this plan, the Company repurchased a total of 4.1 million shares of its common stock at an average price of $30.02 per share. Accumulated Other Comprehensive Income (Loss) A roll forward of the components of AOCI is included as follows: (in thousands) Available HTM Employee Cash Total Balance, December 31, 2012 $ 38,854 $ 19,090 $ (80,688 ) $ (181 ) $ (22,925 ) Net change in unrealized loss (105,270 ) — — (4 ) (105,274 ) Transfer of net unrealized loss from AFS to HTM, net of cumulative tax effect 36,208 (36,208 ) — — — Reclassification of net (gain) loss realized and included in earnings (105 ) — 8,331 301 8,527 Valuation adjustment for employee benefit plans — — 82,653 — 82,653 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 ) Net change in unrealized gain (loss) 15,413 — — (592 ) 14,821 Reclassification of net loss realized and included in earnings — — 390 — 390 Valuation adjustment for employee benefit plans — — (41,244 ) — (41,244 ) Amortization of unrealized net loss on securities transferred to held to maturity — 3,297 — — 3,297 Income tax expense (benefit) 5,675 1,182 (14,681 ) (217 ) (8,041 ) Balance, December 31, 2014 $ 18,001 $ (19,074 ) $ (48,626 ) $ (375 ) $ (50,074 ) Net change in unrealized (loss) gain (21,581 ) — — 311 (21,270 ) Reclassification of net (gain) loss realized and included in earnings (165 ) — 3,175 — 3,010 Valuation adjustment for employee benefit plans — — (33,971 ) — (33,971 ) Amortization of unrealized net loss on securities transferred to held to maturity — 3,530 — — 3,530 Income tax expense (benefit) (8,013 ) 1,251 (11,532 ) 114 (18,180 ) Balance, December 31, 2015 $ 4,268 $ (16,795 ) $ (67,890 ) $ (178 ) $ (80,595 ) AOCI is reported as a component of stockholders’ equity. AOCI includes unrealized gains and losses on available for sale (“AFS”) securities and unrealized gains (losses) on AFS securities that were transferred to held to maturity (“HTM”) securities in the first quarter of 2012 and the third quarter of 2013. Such amounts on the transferred securities 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. Subject to certain thresholds, 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 gains/losses on the cash flow hedge of the variable-rate loans described in Note 9 will be reclassified into income over the life of the hedge. Gains (losses) in AOCI are net of deferred income taxes. The following table shows the line items in the consolidated income statements affected by amounts reclassified from AOCI: Year Ended December 31, Amount reclassified from AOCI (a) (in thousands) 2015 2014 Increase (decrease) in affected line item in the Gain on sale of AFS securities $ 165 $ — Securities gains (losses) Tax effect (58 ) — Income taxes Net of tax 107 — Net income Amortization of unrealized net loss on securities transferred to HTM $ (3,530 ) $ (3,297 ) Interest income Tax effect 1,236 1,154 Income taxes Net of tax (2,294 ) (2,143 ) Net income Amortization of defined benefit pension and post-retirement items (b) $ (3,175 ) $ (390 ) Employee benefits expense Tax effect 1,111 137 Income taxes Net of tax (2,064 ) (253 ) Net income Total reclassifications, net of tax $ (4,251 ) $ 2,396 Net income (a) Amounts in parenthesis indicate reduction in net income. (b) These AOCI components are included in the computation of net periodic pension and post-retirement cost that is reported with employee benefits expense (see footnote 15 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 Common equity tier 1, Tier 1 and Total 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 the Bank subsidiary are required to maintain minimum risk-based 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 Following is a summary of the actual regulatory capital amounts and ratios for the Company and the Bank together with corresponding regulatory capital requirements at December 31, 2015 and 2014: Actual Required for Minimum Required To Be Well ($ in thousands) Amount Ratio % Amount Ratio % Amount Ratio % At December 31, 2015 Tier 1 leverage capital Company $ 1,844,992 8.55 $ 863,289 4.00 $ 1,079,111 5.00 Whitney Bank 1,965,332 9.16 858,551 4.00 1,073,189 5.00 Common equity tier 1 (to risk weighted assets) Company $ 1,844,992 9.96 $ 833,216 4.50 $ 1,203,534 6.50 Whitney Bank 1,965,332 10.64 830,985 4.50 1,200,312 6.50 Tier 1 capital (to risk weighted assets) Company $ 1,844,992 9.96 $ 1,110,954 6.00 $ 1,481,272 8.00 Whitney Bank 1,965,332 10.64 1,107,980 6.00 1,477,306 8.00 Total capital (to risk weighted assets) Company $ 2,195,913 11.86 $ 1,481,272 8.00 $ 1,851,590 10.00 Whitney Bank 2,166,253 11.73 1,477,306 8.00 1,846,633 10.00 At December 31, 2014 Tier 1 leverage capital Company $ 1,777,348 9.17 $ 581,263 3.00 n/a n/a Whitney Bank 1,756,813 9.13 577,493 3.00 $ 962,488 5.00 Tier 1 capital (to risk weighted assets) Company $ 1,777,348 11.23 $ 632,898 4.00 n/a n/a Whitney Bank 1,756,813 11.13 631,220 4.00 $ 946,829 6.00 Total capital (to risk weighted assets) Company $ 1,945,710 12.30 $ 1,265,796 8.00 n/a n/a Whitney Bank 1,925,175 12.20 1,262,439 8.00 $ 1,578,049 10.00 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 Bank may distribute to Hancock without prior regulatory approval, as well as the amount of loans it may make to the Company. Dividends paid by the Bank are subject to approval by the Commissioner of Banking and Consumer Finance of the State of Mississippi. |
Other Noninterest Income and Ot
Other Noninterest Income and Other Noninterest Expense | 12 Months Ended |
Dec. 31, 2015 | |
Other Income and Expenses [Abstract] | |
Other Noninterest Income and Other Noninterest Expense | Note 11. Other Noninterest Income and Other Noninterest Expense The components of other noninterest income and other noninterest expense are as follows: Years Ended December 31, (in thousands) 2015 2014 2013 Other noninterest income: Income from bank-owned life insurance $ 10,881 $ 10,314 $ 11,223 Credit-related fees 11,057 11,121 8,724 Income from derivatives 2,745 1,645 4,675 Gain on sales of assets 186 1,279 1,932 Safety deposit box income 1,758 1,830 1,923 Other miscellaneous income 9,334 9,249 8,754 Total other noninterest income $ 35,961 $ 35,438 $ 37,231 Other noninterest expense: Advertising $ 11,225 $ 8,937 $ 10,399 Ad valorem and franchise taxes 10,498 10,492 9,727 Printing and supplies 4,851 4,550 5,112 Insurance expense 3,482 3,919 4,094 Travel 5,331 4,066 4,716 Entertainment and contributions 6,723 5,762 5,265 Tax credit investment amortization 8,513 8,817 10,781 Other miscellaneous expense 21,580 30,585 45,242 Total other noninterest expense $ 72,203 $ 77,128 $ 95,336 Other miscellaneous expense as shown in the table above includes nonoperating items totaling $2.7 million in 2015, $9.6 million in 2014 and $19.7 million in 2013. These expenses were primarily related to the Company’s expense reduction and efficiency initiatives which included closing and selling branches, improving infrastructure and streamlining operations. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 12. Income Taxes Income tax expense included in net income consisted of the following components: Years Ended December 31, (in thousands) 2015 2014 2013 Included in net income Current federal $ 17,378 $ 41,441 $ 14,797 Current state 4,241 1,487 (3,207 ) Total current provision 21,619 42,928 11,590 Deferred federal 15,457 21,483 37,403 Deferred state 1,228 2,054 3,517 Total deferred provision 16,685 23,537 40,920 Total included in net income $ 38,304 $ 66,465 $ 52,510 Included in shareholders’ equity Deferred tax related to retirement benefits (11,532 ) $ (14,681 ) $ 32,749 Deferred tax related to securities (6,762 ) 6,857 (40,876 ) Deferred tax related to derivatives and hedging 114 (217 ) 116 Total included in shareholders’ equity $ (18,180 ) $ (8,041 ) $ (8,011 ) 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: December 31, (in thousands) 2015 2014 Deferred tax assets: Allowance for loan losses $ 72,940 $ 57,667 Employee compensation and benefits 26,853 50,361 Loan purchase accounting adjustments 18,977 35,094 Tax credit carryforward 42,850 35,553 Securities 5,038 — State net operating loss 1,910 1,535 Other 10,928 8,472 Gross deferred tax assets 179,496 188,682 State valuation allowance (1,910 ) (1,529 ) Subtotal valuation allowance (1,910 ) (1,529 ) Net deferred tax assets 177,586 187,153 Deferred tax liabilities: Fixed assets & intangibles (80,389 ) (88,062 ) Securities — (724 ) FDIC indemnification asset (10,688 ) (18,769 ) Other (10,679 ) (5,263 ) Gross deferred tax liabilities (101,756 ) (112,818 ) Net deferred tax asset $ 75,830 $ 74,335 Reported income tax expense differed from amounts computed by applying the statutory income tax rate of 35% to earnings before income taxes. The primary differences are due to tax-exempt income and federal and state tax credits. The main source of tax credits has been investments in tax-advantaged securities and tax credit projects. These investments are made primarily in the markets the Company serves and are directed at tax credits issued under the Qualified Zone Academy Bonds (QZAB), Qualified School Construction Bonds (QSCB), as well as Federal and State New Market Tax Credit (NMTC) and Low-Income Housing Tax Credit (LIHTC) programs. The investments generate tax credits which reduce current and future taxes and are recognized when earned as a benefit in the provision for income taxes. A summary of the factors that impacted income tax expense follows: Years Ended December 31, 2015 2014 2013 ($ in thousands) Amount % Amount % Amount % Taxes computed at statutory rate $ 59,418 35 % $ 84,766 35 % $ 75,553 35 % Increases (decreases) in taxes resulting from: State income taxes, net of federal income tax benefit 2,595 2 4,649 2 2,352 1 Tax-exempt interest (7,849 ) (5 ) (6,301 ) (3 ) (6,487 ) (3 ) Bank owned life insurance (3,798 ) (2 ) (3,554 ) (1 ) (3,926 ) (2 ) Tax credits (12,495 ) (7 ) (16,577 ) (7 ) (15,743 ) (7 ) Other, net 433 — 3,482 1 761 — Income tax expense $ 38,304 23 % $ 66,465 27 % $ 52,510 24 % As of December 31, 2015, the Company had approximately $43 million in federal and state tax credit carryforwards that originated in the tax years from 2011 through 2015. The federal and state carryforwards begin expiring in 2031 and 2020, respectively. These carryforwards are primarily from investments in federal and state NMTC projects. The Company had approximately $37 million in state net operating loss carryforwards that originated in the tax years 2004 through 2015 and that begin expiring in 2019. A valuation allowance has been established for the state net operating loss carryforwards. The impact of this valuation allowance is immaterial to the financial statements. The Company recognized benefits from federal and state NMTC, LIHTC, QZAB, and QSCB. The tax benefit of a position taken or expected to be taken in a tax return should be recognized when it is more likely than not that the position will be sustained on its technical merits. The liability for unrecognized tax benefits was immaterial at December 31, 2015, 2014 and 2013. The Company does not expect the liability for unrecognized tax benefits to change significantly during 2016. Hancock recognizes interest and penalties, if any, related to income tax matters in income tax expense, and the amounts recognized during 2015, 2014 and 2013 were insignificant. The Company and its subsidiaries file a consolidated U.S. federal income tax return, as well as filing various state returns. Generally, the returns for years prior to 2011 are no longer subject to examination by taxing authorities. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 13. Earnings Per Share Hancock calculates earnings per share using the two-class method. The two-class method allocates net income to each class of common stock and participating security according to common dividends declared and participation rights in undistributed earnings. Participating securities consist of unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents. A summary of the information used in the computation of earnings per common share follows: Years Ended December 31, ($ in thousands, except per share amounts) 2015 2014 2013 Numerator: Net income to common shareholders $ 131,461 $ 175,722 $ 163,356 Net income allocated to participating securities – basic and diluted $ 2,895 $ 3,631 $ 3,105 Net income allocated to common shareholders – basic and diluted $ 128,566 $ 172,091 $ 160,251 Denominator: Weighted-average common shares – basic 78,197 81,804 83,066 Dilutive potential common shares 110 230 101 Weighted average common shares – diluted 78,307 82,034 83,167 Earnings per common share: Basic $ 1.64 $ 2.10 $ 1.93 Diluted $ 1.64 $ 2.10 $ 1.93 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 totaled 798,623 for the year ended December 31, 2015, 621,327 for the year ended December 31, 2014, and 916,756 for the year ended December 31, 2013. |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Segment Reporting | Note 14. Segment Reporting 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 discrete 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. On March 31, 2014, the Company combined its two state bank charters into one charter. Due to the charter change and consistent with its stated strategy that is focused on providing a consistent package of community banking products and services across all markets, the Company has identified its overall banking operations as its only reportable segment. Because the overall banking operations comprise substantially all of the consolidated operations, no separate segment disclosures are presented. |
Retirement Benefit Plans
Retirement Benefit Plans | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Retirement Benefit Plans | Note 15. Retirement Benefit Plans The Company offers a qualified defined benefit pension plan covering all eligible associates. Eligibility is based on minimum age and service-related requirements. The Company makes contributions to this pension plan 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. The Company does not anticipate making a contribution to the pension plan during 2016. Certain associates who were designated executive officers of Whitney Holding Company and/or Whitney National Bank before the acquisition by the Company are also covered by an unfunded nonqualified defined benefit pension plan. The benefits under this nonqualified plan were designed to supplement amounts to be paid under the defined benefit plan previously maintained for employees of Whitney Holding Company and/or Whitney National Bank (the “Whitney Pension Plan”), and are calculated using the Whitney Pension Plan’s formula, but without applying the restrictions imposed on qualified plans by certain provisions of the Internal Revenue Code. Accrued benefits under this plan were frozen as of December 31, 2012 in connection with the merger of the Whitney Pension Plan into the Company’s qualified defined benefit pension plan, and no future benefits will be accrued under this plan. The Company also offers a defined contribution retirement benefit plan (401(k) plan) that covers substantially all associates who have been employed 60 days and meet a minimum age requirement and employment classification criteria. The Company matches 100% of the first 1% of compensation saved by a participant, and 50% of the next 5% of compensation saved. 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 $7.4 million in 2015, $7.1 million in 2014, and $7.0 million in 2013. The Company also sponsors defined benefit postretirement plans for certain associates. The Hancock postretirement plans are available only to associates hired by the Company prior to January 1, 2000. 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 and have reached 55 years of age with ten years of service, at the time of retirement. The postretirement health care plan is contributory, with retiree contributions adjusted annually and subject to certain employer contribution maximums. The Whitney postretirement plans are available only to former employees of Whitney Holding Company and/or Whitney National Bank who meet the eligibility requirements, and offer health care and life insurance benefits for eligible retirees and their eligible dependents. Participant contributions are required under the health plan. 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 (i.e., were age 55 with ten years of credited service). Life insurance benefits are currently only available to associates who retired before December 31, 2007. The Company assumed certain trends in health care costs in the determination of the benefit obligations. At December 31, 2015, the plans assumed a 7.5% increase in the pre- and post-Medicare age health costs for 2016, declining over a period of five years to a 5.0% annual rate. At December 31, 2015, the mortality assumption was based on the Adjusted RP -2014 Bottom Quartile Table, with improvement using Scale MP-2015 Fully Generational Projection. In 2014, the mortality assumption was based on the RP RP-2014 Bottom Quartile Table, with improvement using Scale MP-2014 projected 7 years beyond the valuation date. The following tables detail the changes in the benefit obligations and plan assets of the defined benefit for the years ended December 31, 2015 and 2014 as well as the funded status of the plans at each year end and the amounts recognized in the Company’s balance sheets. The Company uses a December 31 measurement date for all defined benefit pension plans and other postretirement benefit plans. 2015 2014 2015 2014 (in thousands) Pension Benefits Other Post- retirement Benefits Change in benefit obligation Benefit obligation: at beginning of year $ 456,911 $ 412,608 $ 28,368 $ 31,592 Service cost 13,511 12,920 117 126 Interest cost 18,635 19,251 891 1,140 Net actuarial (gain) loss (8,154 ) 29,738 (5,905 ) (3,467 ) Plan participants’ contributions — — 1,334 1,300 Benefits paid (18,084 ) (17,606 ) (2,524 ) (2,323 ) Benefit obligation, end of year 462,819 456,911 22,281 28,368 Change in plan assets Fair value of plan assets: at beginning of year 438,708 437,829 — — Actual return on plan assets (14,421 ) 17,826 — — Employer contributions 86,123 1,123 1,190 1,023 Plan participants’ contributions — — 1,334 1,300 Benefit payments (18,084 ) (17,606 ) (2,524 ) (2,323 ) Expenses (776 ) (464 ) — — Fair value of plan assets, end of year 491,550 438,708 — — Funded status at end of year—net asset (liability) $ 28,731 $ (18,203 ) $ (22,281 ) $ (28,368 ) Amounts recognized in accumulated other comprehensive loss Unrecognized loss: at beginning of year $ 72,858 $ 28,285 $ 3,358 $ 7,189 Net actuarial loss (gain) 36,707 44,573 (5,911 ) (3,831 ) Unrecognized loss at end of year $ 109,565 $ 72,858 $ (2,553 ) $ 3,358 Projected benefit obligation $ 462,819 $ 456,911 Accumulated benefit obligation 429,338 426,073 Fair value of plan assets 491,550 438,708 The net funded status of $28.7 million for pension benefits plans includes an excess of plan assets over the benefit obligation of $44.0 million on the defined benefit pension plan, offset by an unfunded benefit obligation of $15.3 million for the nonqualified retirement plan. The following table shows net periodic benefit cost included in expense and the changes in the amounts recognized in AOCI during 2015, 2014, and 2013. Years Ended December 31, 2015 2014 2013 2015 2014 2013 ($ in thousands) Pension benefits Other post-retirement benefits Net periodic benefit cost Service cost $ 13,511 $ 12,920 $ 16,118 $ 117 $ 126 $ 215 Interest cost 18,635 19,251 16,678 891 1,140 1,317 Expected return on plan assets (32,833 ) (32,222 ) (27,928 ) — — — Amortization of net loss/ prior service cost 3,169 26 6,570 6 364 1,761 Net periodic benefit cost 2,482 (25 ) 11,438 1,014 1,630 3,293 Other changes in plan assets and benefit obligations recognized in other comprehensive income, before taxes Net (loss) gain recognized during the year (3,169 ) (26 ) (6,570 ) (6 ) (364 ) (1,761 ) Net actuarial loss (gain) 39,876 44,599 (76,939 ) (5,905 ) (3,467 ) (5,563 ) Total recognized in other comprehensive income 36,707 44,573 (83,509 ) (5,911 ) (3,831 ) (7,324 ) Total recognized in net periodic benefit cost and other comprehensive income $ 39,189 $ 44,548 $ (72,071 ) $ (4,897 ) $ (2,201 ) $ (4,031 ) Discount rate for benefit obligations 4.40 % 4.11 % 4.73 % 4.32 % 4.02 % 4.58 % Discount rate for net periodic benefit cost 4.11 % 4.73 % 3.82 % 4.02 % 4.58 % 3.69 % Expected long-term return on plan assets 7.50 % 7.50 % 7.50 % n/a n/a n/a Rate of compensation increase scaled * scaled * 4.00 % n/a n/a n/a * Graded scale, declining from 7.00% at age 20 to 2.00% at age 60 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, 2015, 2014, and 2013 the discount rate was calculated by matching expected future cash flows to the Wells Fargo Pension Discount Curve Liability Index. The following shows expected plan benefit payments over the next ten years: (in thousands) Pension Post-retirement Total 2016 $ 18,997 $ 1,318 $ 20,315 2017 19,992 1,289 21,281 2018 20,942 1,276 22,218 2019 21,750 1,290 23,040 2020 22,764 1,251 24,015 2021-2025 129,722 6,245 135,967 $ 234,167 $ 12,669 $ 246,836 The expected benefit payments are estimated based on the same assumptions used to measure the Company’s benefit obligations at December 31, 2015. The estimated amounts of actuarial loss that will be amortized from accumulated other comprehensive loss into net periodic benefit cost over the next year is $5.5 million. 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, 2015: (in thousands) 1% Decrease Assumed 1% Increase Aggregated service and interest cost $ 886 $ 1,008 $ 1,159 Postretirement benefit obligation 19,820 22,281 25,287 The fair values of pension plan assets at December 31, 2015 and 2014, by asset category, are shown in the following tables. The fair value is presented based on a the Financial Accounting Standards Board’s fair value hierarchy that prioritizes inputs into the valuation techniques used to measure fair value, with Level 1 using quoted prices in active markets for identical assets, Level 2 using significant observable inputs, and Level 3 using significant unobservable inputs. Fair Value Measurements by Asset Category / Fund Total (Level 1) (Level 2) (Level 3) (in thousands) Fair Value Measurements at December 31, 2015 Cash and cash-equivalents: Cash and equivalents $ 44,224 $ 44,224 $ — $ — Total cash and cash-equivalents 44,224 44,224 — — Fixed income: US government and agency securities 11,192 — 11,192 — Municipal securities 31,190 — 31,190 — Emerging market debt fund 24,482 — — 24,482 Foreign bonds, notes and debentures 1,743 — 1,743 — Hancock Horizon Core Bond Fund 47,453 — 47,453 — Corporate debt 61,481 — 61,481 — Other fixed income 186 — 125 61 Total fixed income 177,727 — 153,184 24,543 Real assets: Real assets fund 24,653 24,653 — — Total real assets 24,653 24,653 — — Equity: Hancock Horizon Quantitative Long/Short Fund 5,620 5,620 — — Hancock Horizon Diversified International Fund 73,478 73,478 — — Hancock Horizon Burkenroad Small Cap Fund 9,129 9,129 — — Hancock Horizon Growth Fund 29,447 29,447 — — Hancock Horizon Value Fund 29,378 29,378 — — Equity securities 97,894 97,894 — — Total equity 244,946 244,946 — — Total $ 491,550 $ 313,823 $ 153,184 $ 24,543 Fair Value Measurements by Asset Category / Fund Total (Level 1) (Level 2) (Level 3) (in thousands) Fair Value Measurements at December 31, 2014 Cash and cash-equivalents: Cash and equivalents $ 10,243 $ 10,243 $ — $ — Total cash and cash-equivalents 10,243 10,243 — — Fixed income: US government and agency securities 15,518 1,082 14,436 — Municipal securities 33,980 — 33,980 — Emerging market debt fund 19,505 — — 19,505 Foreign bonds, notes and debentures 2,588 — 2,588 — Hancock Horizon Core Bond Fund 51,529 — 51,529 — Corporate debt 62,429 — 62,429 — Total fixed income 185,549 1,082 164,962 19,505 Real assets: Real assets fund 24,151 24,151 — — Total real assets 24,151 24,151 — — Equity: Hancock Horizon Quantitative Long/Short Fund 5,603 5,603 — — Hancock Horizon Diversified International Fund 62,750 62,750 — — Hancock Horizon Burkenroad Small Cap Fund 9,296 9,296 — — Hancock Horizon Growth Fund 26,469 26,469 — — Hancock Horizon Value Fund 30,321 30,321 — — Equity securities 84,325 84,325 — — Mineral Interests 1 — — 1 Total equity 218,765 218,764 — 1 Total $ 438,708 $ 254,240 $ 164,962 $ 19,506 For all investments, the plan attempts to use quoted market prices of identical assets on active exchanges, or Level 1 measurements. Where such quoted market prices are not available, the plan will use quoted prices for similar instruments or discounted cash flows to estimate the value, reported as Level 2. Level 3 measurements for the plan are common trust funds that are valued based on pricing obtained from the funds’ investment companies. Changes in Level 3 valuation adjustments are not material. The percentage allocations of the plan assets by asset category and corresponding target allocations at December 31, 2015 and 2014 follow: Plan Assets Target Allocation at 2015 2014 2015 2014 Asset category Equity securities 50 % 50 % 30 - 60 % 30 - 60 % Fixed income securities 36 42 25 - 65 % 25 - 65 % Real assets 5 6 0 - 10 % 0 - 10 % Cash equivalents 9 2 0 - 5 % 0 - 5 % 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 benefits investment committee meets periodically to review the policy, strategy, and performance of the plans. |
Share-Based Payment Arrangement
Share-Based Payment Arrangements | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Payment Arrangements | Note 16. Share-Based Payment Arrangements Hancock maintains incentive compensation plans that incorporate share-based payment arrangements for associates and directors. The current plan under which share-based awards may be granted, the 2014 Long Term Incentive Plan (the “2014 Plan”), was approved by the Company’s stockholders at the 2014 annual meeting as a successor to the Company’s 2005 Long-Term Incentive Plan (the “2005 Plan”). Certain share-based awards remain outstanding under the 2005 Plan and prior equity incentive compensation plans, but no future awards may be granted thereunder. The Compensation Committee of the Company’s Board of Directors administers the equity incentive plans, makes determinations with respect to participation by employees or directors and authorizes the share-based awards. Under the 2014 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 under the 2014 Plan and the prior equity incentive plans. Under the 2014 Plan, future awards may be granted for the issuance of an aggregate of 1,796,357 shares of the Company’s common stock, plus the number of any shares of the Company’s common stock for which awards under the 2005 Plan are cancelled, expired, forfeited or settled in cash. The 2014 Plan limits the number of shares for which awards may be granted to any participant during any calendar year to 100,000 shares. The Company may use authorized unissued shares or shares held in treasury to satisfy awards under the 2014 Plan. At December 31, 2015 there were 1.3 million shares available for future issuance under equity compensation plans (including 143,940 shares under the Company’s 2010 Employee Stock Purchase Plan). For the years ended December 31, 2015, 2014 and 2013 total share-based compensation recognized in income was $12.9 million, $14.0 million and $13.1 million, respectively. The total recognized tax benefit related to the share-based compensation was $4.8 million, $4.9 million and $4.6 million for 2015, 2014 and 2013, respectively. A summary of option activity for 2015 is presented below: Options Number of Weighted- Weighted- Aggregate Outstanding at January 1, 2015 939,393 $ 37.21 Exercised (11,577 ) 29.94 Cancelled/Forfeited (70,586 ) 36.15 Expired (111,424 ) 34.79 Outstanding at December 31, 2015 745,806 $ 37.55 3.6 $ — Exercisable at December 31, 2015 675,880 $ 38.35 3.4 $ — The number of shares subject to the outstanding options reflected above includes shares to be issued upon the exercise of options that were assumed by the Company in the acquisition of Whitney Holding Corporation. 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 2015 was $0.02 million. The total intrinsic value of options exercised during 2014 and 2013 was $0.4 million, and $0.6 million, respectively. A summary of the status of the Company’s nonvested restricted and performance shares as of December 31, 2015 and changes during 2015 are presented below: Number of Weighted- Nonvested at January 1, 2015 2,040,299 $ 32.27 Granted 715,622 28.40 Vested (399,850 ) 32.40 Cancelled/Forfeited (159,926 ) 32.54 Nonvested at December 31, 2015 2,196,145 $ 30.97 As of December 31, 2015, there was $45.8 million of total unrecognized compensation expense related to nonvested restricted shares expected to vest. This compensation is expected to be recognized in expense over a weighted-average period of 3.6 years. The total fair value of shares which vested during 2015 and 2014 was $12.2 million and $12.8 million, respectively. In 2015, Hancock granted 59,312 performance shares with a grant date fair value of $25.77 per share to key members of executive and senior management. The number of 2015 performance shares that ultimately vest, if any, 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. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 17. Commitments and Contingencies Credit Related In the normal course of business, the Bank enters 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 Bank 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, non revolving 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 Bank to fulfill a customer’s financial commitments to a third party if the customer is unable to perform. The Bank issues 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: December 31, (in thousands) 2015 2014 Commitments to extend credit $ 5,937,701 $ 5,700,546 Letters of credit 375,227 414,408 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. 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, 2015: (in thousands) Operating 2016 $ 13,176 2017 12,411 2018 10,742 2019 8,815 2020 6,213 Thereafter 23,134 Total minimum lease payments $ 74,491 Rental expense approximated $13.3 million, $11.4 million and $12.9 million for the years ended December 31, 2015, 2014, and 2013, respectively. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Note 18. 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, 2015 (in thousands) Level 1 Level 2 Total Assets Available for sale debt securities: U.S. Treasury and government agency securities $ — $ 134 $ 134 Municipal obligations — 39,607 39,607 Corporate debt securities — 3,500 3,500 Mortgage-backed securities — 1,758,373 1,758,373 Collateralized mortgage obligations — 289,033 289,033 Equity securities 2,757 — 2,757 Total available for sale securities 2,757 2,090,647 2,093,404 Derivative assets (1) — 23,251 23,251 Total recurring fair value measurements – assets $ 2,757 $ 2,113,898 $ 2,116,655 Liabilities Derivative liabilities (1) $ — $ 23,968 $ 23,968 Total recurring fair value measurements – liabilities $ — $ 23,968 $ 23,968 (1) For further disaggregation of derivative assets and liabilities, see Note 9 – Derivatives December 31, 2014 (in thousands) Level 1 Level 2 Total Assets Available for sale debt securities: U.S. Treasury and government agency securities $ — $ 300,508 $ 300,508 Municipal obligations — 14,176 14,176 Corporate debt securities — 3,500 3,500 Mortgage-backed securities — 1,245,564 1,245,564 Collateralized mortgage obligations — 86,864 86,864 Equity securities 9,553 — 9,553 Total available for sale securities 9,553 1,650,612 1,660,165 Derivative assets (1) — 19,432 19,432 Total recurring fair value measurements – assets $ 9,553 $ 1,670,044 $ 1,679,597 Liabilities Derivative liabilities (1) $ — $ 20,860 $ 20,860 Total recurring fair value measurements – liabilities $ — $ 20,860 $ 20,860 (1) For further disaggregation of derivative assets and liabilities, see Note 9 – Derivatives Securities classified as level 1 within the valuation hierarchy include U.S. Treasury securities and certain other debt and equity securities. Level 2 classified securities include obligations of U.S. Government agencies and U.S. Government-sponsored agencies, residential mortgage-backed securities, 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. Company policies generally limit investments to agency securities and municipal securities determined to be investment grade according to an internally generated score which generally includes 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, Overnight Index swap rate curves, and Eurodollar futures contracts. 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 Bank’s 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 on a nonrecurring basis: December 31, 2015 (in thousands) Level 1 Level 2 Level 3 Total Collateral dependent impaired loans $ — $ 93,602 $ — $ 93,602 Other real estate owned — — 17,206 17,206 Total nonrecurring fair value measurements $ — $ 93,602 $ 17,206 $ 110,808 December 31, 2014 (in thousands) Level 1 Level 2 Level 3 Total Collateral dependent impaired loans $ — $ 30,204 $ — $ 30,204 Other real estate owned — — 29,715 29,715 Total nonrecurring fair value measurements $ — $ 30,204 $ 29,715 $ 59,919 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 short-term Securities Loans, Net Loans Held For Sale Deposits Securities Sold under Agreements to Repurchase, Federal Funds Purchased, and FHLB Borrowings Long-Term Debt Derivative Financial Instruments The following tables present the estimated fair values of the Company’s financial instruments by fair value hierarchy levels and the corresponding carrying amount at December 31, 2015 and 2014. December 31, 2015 Total Carrying (in thousands) Level 1 Level 2 Level 3 Financial assets: Cash, interest-bearing bank deposits, and federal funds sold $ 869,429 $ — $ — $ 869,429 $ 869,429 Available for sale securities 2,757 2,090,647 — 2,093,404 2,093,404 Held to maturity securities — 2,375,851 — 2,375,851 2,370,388 Loans, net — 93,602 15,334,201 15,427,803 15,522,135 Loans held for sale — 20,434 — 20,434 20,434 Derivative financial instruments — 23,251 — 23,251 23,251 Financial liabilities: Deposits $ — $ — $ 18,327,425 $ 18,327,425 $ 18,348,912 Federal funds purchased 10,100 — — 10,100 10,100 Securities sold under agreements to repurchase 513,544 — — 513,544 513,544 FHLB Borrowings 900,000 — — 900,000 900,000 Long-term debt — 494,565 — 494,565 495,999 Derivative financial instruments — 23,968 — 23,968 23,968 December 31, 2014 Total Fair Value Carrying (in thousands) Level 1 Level 2 Level 3 Financial assets: Cash, interest-bearing bank deposits, and federal funds sold $ 1,159,403 $ — $ — $ 1,159,403 $ 1,159,403 Available for sale securities 9,553 1,650,612 — 1,660,165 1,660,165 Held to maturity securities — 2,186,340 — 2,186,340 2,166,289 Loans, net — 30,204 13,672,427 13,702,631 13,766,514 Loans held for sale — 20,252 — 20,252 20,252 Derivative financial instruments — 19,432 — 19,432 19,432 Financial liabilities: Deposits $ — $ — $ 16,398,878 $ 16,398,878 $ 16,572,831 Federal funds purchased 12,000 — — 12,000 12,000 Securities sold under agreements to repurchase 624,573 — — 624,573 624,573 FHLB Borrowings 515,000 — — 515,000 515,000 Long-term debt — 346,379 — 346,379 374,371 Derivative financial instruments — 20,860 — 20,860 20,860 |
Condensed Parent Company Inform
Condensed Parent Company Information | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Parent Company Information | Note 19. Condensed Parent Company Information The following condensed financial statements reflect the accounts and transactions of Hancock Holding Company only: Condensed Balance Sheets December 31, (in thousands) 2015 2014 Assets: Cash $ 36,364 $ 44,771 Securities available for sale 83,835 97,423 Investment in bank subsidiaries 2,534,299 2,452,529 Investment in non-bank subsidiaries 3,051 3,202 Due from subsidiaries and other assets 31,168 24,896 $ 2,688,717 $ 2,622,821 Liabilities and Stockholders’ Equity: Long term debt $ 275,000 $ 149,600 Other liabilities 574 819 Stockholders’ equity 2,413,143 2,472,402 $ 2,688,717 $ 2,622,821 Condensed Statements of Income Years Ended December 31, (in thousands) 2015 2014 2013 Operating Income From subsidiaries Cash dividends received from bank subsidiaries $ 31,000 $ 124,000 $ 249,000 Dividends received from non-bank subsidiaries — — 2,990 Equity in earnings of subsidiaries greater than (less than) dividends received 111,424 58,358 (82,203 ) Total operating income 142,424 182,358 169,787 Other expense, net (17,297 ) (10,035 ) (10,335 ) Income tax benefit (6,334 ) (3,399 ) (3,904 ) Net income $ 131,461 $ 175,722 $ 163,356 Condensed Statements of Cash Flows Years Ended December 31, (in thousands) 2015 2014 2013 Cash flows from operating activities—principally dividends received from subsidiaries $ 30,527 $ 126,491 $ 257,251 Net cash provided by operating activities 30,527 126,491 257,251 Cash flows from investing activities Contribution of capital to subsidiary (90 ) — (870 ) Proceeds from principal paydowns of securities available for sale 12,863 12,664 18,685 Other, net 1,629 — (5,630 ) Net cash provided by investing activities 14,402 12,664 12,185 Cash flows from financing activities: Proceeds from issuance of long term debt 269,004 — — Repayment of long term debt (149,600 ) (35,200 ) (35,200 ) Dividends paid to stockholders (77,474 ) (80,392 ) (81,673 ) Stock transactions, net (95,266 ) (45,130 ) (112,266 ) Net cash used by financing activities (53,336 ) (160,722 ) (229,139 ) Net (decrease) increase in cash (8,407 ) (21,567 ) 40,297 Cash, beginning of year 44,771 66,338 26,041 Cash, end of year $ 36,364 $ 44,771 $ 66,338 |
Summary of Significant Accoun28
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
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. Certain prior period amounts have been reclassified to conform to the current period presentation. |
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 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 (“AOCI”) 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 reported as “originated” include both loans originated for investment and acquired-performing loans where the discount (premium) has been fully accreted (amortized). Originated loans are reported at the principal balance outstanding net of unearned income. Interest on loans and accretion of unearned income, including net 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 Loans reported as “acquired” are those loans that were purchased in the 2011 Whitney Holding Corporation acquisition. These loans were recorded at estimated fair value at the acquisition date with no carryover of the related allowance for loan losses. The Whitney 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 to facilitate purchase accounting. Acquired-performing loans are accounted for under Accounting Standards Codification (ASC) 310-20 and acquired-impaired loans are accounted for under ASC 310-30. Acquired-performing loans were segregated into pools based on common risk characteristics such as loan type, credit risk ratings, 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 loans, 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 historical experience and the portfolio characteristics at acquisition as well as available market research. The fair value estimate for each acquired-performing pool was based on the estimate of expected cash flows from the pool discounted at prevailing market rates. 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 reported as nonperforming or past due using the same criteria applied to the originated portfolio. The acquired-impaired loans were segregated into pools by identifying loans with common credit risk profiles and were based primarily on characteristics such as loan type and market area in which originated. The major loan types included commercial and industrial loans not secured by real estate, real estate construction and land development loans, commercial real estate loans, and residential mortgage loans, with further segregation within certain loan types as needed. The acquired-impaired loans were further disaggregated by geographic region in recognition of the differences in general economic conditions affecting borrowers in certain states. The fair value estimate for each pool of acquired-impaired loans was based on the estimate of expected cash flows from the pool discounted at prevailing market rates. The excess of estimated cash flows expected 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 expected 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. 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. FDIC acquired loans and the related loss share receivable Loans reported as “FDIC acquired” are loans purchased in the 2009 acquisition of Peoples First Community Bank (Peoples First) that were covered by two loss share agreements between the FDIC and the Company. These 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 as impaired 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 covered loan pools change. Increases in expected reimbursements under the loss sharing agreement 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 loss share receivable 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 concurrently 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 are 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 initially 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 loan’s observable market price 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 and Lease Losses | Allowance for Loan and Lease Losses Originated loans The Allowance for Loan and Lease Losses (ALLL) is a valuation account available to absorb losses on loans. The ALLL is established and maintained at an amount sufficient to cover 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 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. For the loss rate analysis, the Company segments loans into commercial non-real estate, construction and land development, commercial real estate, residential mortgage and consumer, with further segmentation as deemed appropriate. Both quantitative and qualitative factors are applied at the detailed portfolio segments. 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. The Company uses loss emergence periods developed based on historical experience, which is currently eighteen-months for commercial loans and twelve-months for retail loans. Historical loss rates are calculated using a weighted average of the most recent three loss emergence periods. As circumstances dictate, management will make adjustments to the overall loss rate 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 nonperforming 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 loan’s 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 and all loans classified as troubled debt restructurings. The monitoring of credit risk also extends to unfunded credit commitments, such as unused commercial credit lines and letters of credit, and management establishes reserves as needed for its estimate of probable losses on such commitments. 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 when the loan is 90 days past due for unsecured loans or 120 days past due for secured loans, unless the loan is clearly both well secured and in the process of collection. Loans are charged down to the fair value of the collateral, if any, less estimated selling costs. Loans are charged off against the allowance for loan losses with subsequent recoveries added back to the allowance. Acquired and FDIC acquired loans Allowance for acquired-performing loans is evaluated 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, including those acquired in the FDIC-assisted transaction, 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 ten years for furniture and equipment. Amortization expense for software is generally charged over three years, or seven years for core systems. Leasehold improvements are amortized over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. 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 Bank’s business. These assets are recorded at the estimated fair value less the estimated cost of disposition and carried at the lower of either cost or market. Fair value is based on independent appraisals and other relevant factors. 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. Other real estate is revalued on an annual basis or more often if market conditions necessitate. 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 unit’s goodwill is compared to its carrying value. The Company uses a number of techniques to estimate fair value, including an income approach using the present value of future cash flows and a market approach using prices and other information from similar market transactions. Each technique incorporates assumptions that market participants would use in their estimates of fair value. These include assumptions about the economic environment, expected net interest margins, growth rates, interest at which cash flows are discounted, price-to-book multiples and price-to-earnings multiples. 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. These assets 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, otherwise it is included in other comprehensive income. Note 9 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. The Company invests in projects that yield tax credits issued under the Qualified Zone Academy Bonds (QZAB), Qualified School Construction Bonds (QSCB), Federal and State New Market Tax Credit (NMTC), and Low-Income Housing Tax Credit (LIHTC) programs. Returns on these investments are generated through the receipt of federal and state tax credits. The tax credits are recorded as a reduction to the income tax provision in the year that they are earned. Tax credits from QZAB and QSCB bonds are generally earned over the life of the bonds in lieu of interest income. Credits on Federal NMTC investments are earned over the 7 year compliance period beginning with the year of investment. Credits on State NMTC investments are generally earned over a 3 to 5 year period depending upon the specific state program. Tax credits are earned over a 10 year period for Low-Income Housing investments beginning with the year in which rental activity begins. These tax credits, if not used in the tax return for the year when the credits are first available for use, can be carried forward for 20 years. For those investments where the return of the principal is not expected, the equity investment is amortized over the life of the tax compliance period as a component of noninterest expense. |
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 15 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 AOCI. |
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 origination fees are recognized over the life of the loan as an adjustment to yield. Other credit-related fees, including letter of credit fees, are recognized in noninterest income when earned. The Company recognizes commission revenue and brokerage, exchange and clearance fees on a trade-date basis. Other types of noninterest 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 can be reasonably determined. |
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 stock awards 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 discrete 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. Due to the fact that the Company has one state bank charter and its stated strategy is focused on providing a consistent package of community banking products and services throughout a coherent market area, the Company has identified its overall banking operations as its only reportable segment. Because the overall banking operations comprise substantially all of the consolidated operations, no separate segment disclosures are presented. |
Other | Other Assets held by the Bank in a fiduciary capacity are not assets of the Bank and are not included in the consolidated balance sheets. |
Recent Accounting Pronouncements | RECENT ACCOUNTING PRONOUNCEMENTS In January 2016, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) that improves the recognition and measurement of financial instruments through targeted changes to existing GAAP. It requires equity investments (except those that are accounted for under the equity method of accounting or result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. It also requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company is currently assessing this pronouncement and adoption of this guidance is not expected to have a material impact on the Company’s financial condition or results of operations. In September 2015, the FASB issued an ASU that eliminates the requirement to restate prior period financial statements for measurement period adjustments. The new guidance requires that the cumulative impact of a measurement period adjustment (including the impact on prior periods) be recognized in the reporting period in which the adjustment is identified. The new standard should be applied prospectively to measurement period adjustments that occur after the effective date. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The adoption of this guidance is not expected to have a material impact on the Company’s financial condition or results of operations. In May 2015, the FASB issued an ASU to remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient and remove the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The adoption of this guidance is not expected to have a material impact on the Company’s financial condition or results of operations. In April 2015, the FASB issued an ASU to provide guidance to customers about how to account for a cloud computing arrangement depending on whether or not it includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customer’s accounting for service contracts. For public business entities, the amendments will be effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted for all entities. The adoption of this guidance is not expected to have a material impact on the Company’s financial condition or results of operations. In April 2015, the FASB issued an ASU to simplify presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The guidance in this ASU did not address presentation or subsequent measurement of debt issuance costs related to line-of-credit arrangements. Therefore, the FASB issued an ASU in August 2015 to clarify the SEC staff position that they would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2015. Early adoption of the amendments in this update is permitted for financial statements that have not been previously issued. The adoption of this guidance is not expected to have a material impact on the Company’s financial condition or results of operations. In February 2015, the FASB issued an ASU to change the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The amendments in this ASU (1) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities; (2) eliminate the presumption that a general partner should consolidate a limited partnership; (3) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and (4) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The amendments in this update are effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. The adoption of this guidance is not expected to have a material impact on the Company’s financial condition or results of operations. In January 2015, the FASB issued an ASU to address the elimination of the concept of extraordinary items. The standard is the first in the FASB’s simplification initiative that is aimed at reducing the cost and complexity of financial reporting while improving or maintaining the usefulness of information reported to investors. The amendments in this update are effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted but adoption must occur at the beginning of the year. The Company adopted this guidance in January 2015 and it did not have a material impact on the Company’s financial condition or results of operations. In August 2014, the FASB issued an ASU to address the diversity in practice regarding the classification and measurement of foreclosed loans which were part of a government-sponsored loan guarantee program. The ASU outlines certain criteria that, if met, the loan (residential or commercial) should be derecognized and a separate other receivable should be recorded upon foreclosure at the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. This ASU was effective for annual reporting periods beginning after December 15, 2014, including interim periods within that reporting period. The Company adopted this guidance in January 2015 and it did not have a material impact on the Company’s financial condition or results of operations. In June 2014, the FASB issued an ASU regarding repurchase-to-maturity transactions, repurchase financings, and disclosures. Under the new standard, repurchase-to-maturity transactions will be reported as secured borrowings, and transferors will no longer apply the current “linked” accounting model to repurchase agreements executed contemporaneously with the initial transfer of the underlying financial asset with the same counterparty. Public business entities are generally required to apply the accounting changes and comply with the enhanced disclosure requirements for periods beginning after December 15, 2014 and interim periods beginning after March 15, 2015. A public business entity may not early adopt the standard’s provisions. The Company adopted the accounting guidance in January 2015 and it did not have a material impact on the Company’s financial condition or results of operations. The new disclosure requirements are included in Note 7 – Short-term Borrowings. In May 2014, the FASB issued an ASU regarding revenue from contracts with customers affecting any entity that enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. The core principle of this standard is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard will be effective for the Company for annual reporting periods beginning after December 15, 2017. The Company is currently assessing this pronouncement and adoption of this guidance is not expected to have a material impact on the Company’s financial condition or results of operations. In January 2014, the FASB issued an 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 Company adopted this guidance in January 2015 and it did not have a material impact on the Company’s financial condition or results of operations. The new disclosure requirements are included at the end of Note 3 – Loans and Allowance for Loan Losses. In January 2014, the FASB issued an ASU in order to provide guidance on accounting for investments in flow-through limited liability entities that manage or invest in affordable housing projects that qualify for low-income housing tax credit (“LIHTC”). Through the Company’s investments in these entities, the Company receives tax credits and/or tax deductions from operating losses, which are allowable on the Company’s filed income tax returns over the life of the project beginning with the first year the tax credits are earned. The Company adopted this guidance in January 2015 and it did not have a material impact on the Company’s financial condition or results of operations. |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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: Securities Available for Sale December 31, 2015 December 31, 2014 in thousands Amortized Gross Unrealized Gross Unrealized Fair Value Amortized Gross Unrealized Gross Unrealized Fair Value U.S. Treasury and government agency securities $ 135 $ — $ 1 $ 134 $ 300,207 $ 372 $ 71 $ 300,508 Municipal obligations 39,410 235 38 39,607 13,995 186 5 14,176 Mortgage-backed securities 1,750,168 19,387 11,182 1,758,373 1,217,293 31,094 2,823 1,245,564 Collateralized mortgage obligations 291,085 140 2,192 289,033 88,093 — 1,229 86,864 Corporate debt securities 3,500 — — 3,500 3,500 — — 3,500 Equity securities 2,447 358 48 2,757 8,673 891 11 9,553 $ 2,086,745 $ 20,120 $ 13,461 $ 2,093,404 $ 1,631,761 $ 32,543 $ 4,139 $ 1,660,165 |
Amortized Cost and Fair Value of Held to Maturity Securities | Securities Held to Maturity December 31, 2015 December 31, 2014 in thousands Amortized Gross Gross Fair Value Amortized Gross Gross Fair Value U.S. Treasury and government agency securities $ 50,000 $ — $ 410 $ 49,590 $ — $ — $ — $ — Municipal obligations 185,890 3,475 1,166 188,199 180,615 3,416 1,144 182,887 Mortgage-backed securities 1,014,135 15,585 1,589 1,028,131 899,923 23,897 162 923,658 Collateralized mortgage obligations 1,120,363 2,244 12,676 1,109,931 1,085,751 5,590 11,546 1,079,795 $ 2,370,388 $ 21,304 $ 15,841 $ 2,375,851 $ 2,166,289 $ 32,903 $ 12,852 $ 2,186,340 |
Available for Sale Securities Unrealized Losses | The details for securities classified as available for sale with unrealized losses as of December 31, 2015 follow: Available for sale Losses < 12 months Losses 12 months or > Total in thousands Fair Value Gross Fair Value Gross Fair Value Gross U.S. Treasury and government agency securities $ — $ — $ 82 $ 1 $ 82 $ 1 Municipal obligations 8,296 38 — — 8,296 38 Mortgage-backed securities 831,156 8,257 116,126 2,925 947,282 11,182 Collateralized mortgage obligations 208,397 1,257 33,138 935 241,535 2,192 Equity securities 20 1 1,473 47 1,493 48 $ 1,047,869 $ 9,553 $ 150,819 $ 3,908 $ 1,198,688 $ 13,461 The details for securities classified as available for sale with unrealized losses as of December 31, 2014 follow: Available for sale Losses < 12 months Losses 12 months or > Total in thousands Fair Value Gross Fair Value Gross Fair Value Gross U.S. Treasury and government agency securities $ 99,950 $ 70 $ 121 $ 1 $ 100,071 $ 71 Municipal obligations 2,995 5 — — 2,995 5 Mortgage-backed securities 38,955 163 125,641 2,660 164,596 2,823 Collateralized mortgage obligations — — 86,864 1,229 86,864 1,229 Equity securities 5,998 10 3 1 6,001 11 $ 147,898 $ 248 $ 212,629 $ 3,891 $ 360,527 $ 4,139 |
Held to Maturity with Unrealized Losses | The details for securities classified as held to maturity with unrealized losses as of December 31, 2015 follow: Held to maturity Losses < 12 months Losses 12 months or > Total in thousands Fair Value Gross Fair Value Gross Fair Value Gross U.S. Treasury and government agency securities $ 45,590 $ 410 $ — $ — $ 45,590 $ 410 Municipal obligations 22,652 301 48,727 865 71,379 1,166 Mortgage-backed securities 349,635 1,589 — — 349,635 1,589 Collateralized mortgage obligations 516,330 2,894 370,756 9,782 887,086 12,676 $ 934,207 $ 5,194 $ 419,483 $ 10,647 $ 1,353,690 $ 15,841 The details for securities classified as held to maturity with unrealized losses as of December 31, 2014 follow: Held to maturity Losses < 12 months Losses 12 months or > Total in thousands Fair Value Gross Fair Value Gross Fair Value Gross Municipal obligations $ 4,316 $ 12 $ 58,105 $ 1,132 $ 62,421 $ 1,144 Mortgage-backed securities — — 95,522 162 95,522 162 Collateralized mortgage obligations 119,222 616 540,607 10,930 659,829 11,546 $ 123,538 $ 628 $ 694,234 $ 12,224 $ 817,772 $ 12,852 |
Available for Sale Securities [Member] | |
Amortized Cost and Fair Value of Available for Sale Securities by Final Contractual Maturity | The following table presents the amortized cost and fair value of debt securities at December 31, 2015 by contractual maturity. 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 collateral mortgage obligations. in thousands Amortized Fair Value Debt Securities Available for Sale Due in one year or less $ 42,807 $ 41,901 Due after one year through five years 71,342 72,447 Due after five years through ten years 322,891 330,327 Due after ten years 1,647,258 1,645,972 Total available for sale debt securities $ 2,084,298 $ 2,090,647 |
Held-to-maturity Securities [Member] | |
Amortized Cost and Fair Value of Available for Sale Securities by Final Contractual Maturity | in thousands Amortized Fair Value Debt Securities Held to Maturity Due in one year or less $ 113,296 $ 111,710 Due after one year through five years 430,315 425,060 Due after five years through ten years 137,021 136,244 Due after ten years 1,689,756 1,702,837 Total held to maturity debt securities $ 2,370,388 $ 2,375,851 |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Loans, Net of Unearned Income | Loans, net of unearned income, consisted of the following: (in thousands) December 31, December 31, Originated loans: Commercial non-real estate $ 6,930,453 $ 5,917,728 Construction and land development 1,139,743 1,073,964 Commercial real estate 3,220,509 2,428,195 Residential mortgages 1,887,256 1,704,770 Consumer 2,080,626 1,685,542 Total originated loans $ 15,258,587 $ 12,810,199 Acquired loans: Commercial non-real estate $ 59,843 $ 120,137 Construction and land development 5,080 21,123 Commercial real estate 176,460 688,045 Residential mortgages 27 2,378 Consumer 20 985 Total acquired loans $ 241,430 $ 832,668 FDIC acquired loans: Commercial non-real estate $ 5,528 $ 6,195 Construction and land development 7,127 11,674 Commercial real estate 15,582 27,808 Residential mortgages 162,241 187,033 Consumer 12,819 19,699 Total FDIC acquired loans $ 203,297 $ 252,409 Total loans: Commercial non-real estate $ 6,995,824 $ 6,044,060 Construction and land development 1,151,950 1,106,761 Commercial real estate 3,412,551 3,144,048 Residential mortgages 2,049,524 1,894,181 Consumer 2,093,465 1,706,226 Total loans $ 15,703,314 $ 13,895,276 |
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 2015 and 2014 by portfolio segment and the corresponding recorded investment in loans as of December 31, 2015 and December 31, 2014. Commercial Construction Commercial Residential Consumer Total (in thousands) Year Ended December 31, 2015 Originated loans Allowance for loan losses: Beginning balance $ 50,258 $ 5,413 $ 16,544 $ 8,051 $ 17,435 $ 97,701 Charge-offs (6,934 ) (2,424 ) (1,482 ) (1,635 ) (16,688 ) (29,163 ) Recoveries 3,342 2,179 2,405 687 4,338 12,951 Net provision for loan losses 62,316 (183 ) (3,408 ) 587 17,225 76,537 Ending balance $ 108,982 $ 4,985 $ 14,059 $ 7,690 $ 22,310 $ 158,026 Ending balance: Individually evaluated for impairment $ 19,031 $ 392 $ 1,372 $ 127 $ 33 $ 20,955 Collectively evaluated for impairment 89,951 4,593 12,687 7,563 22,277 137,071 Loans: Ending balance: $ 6,930,453 $ 1,139,743 $ 3,220,509 $ 1,887,256 $ 2,080,626 $ 15,258,587 Individually evaluated for impairment 81,622 14,226 14,191 895 152 111,086 Collectively evaluated for impairment 6,848,831 1,125,517 3,206,318 1,886,361 2,080,474 15,147,501 Acquired loans Allowance for loan losses: Beginning balance $ — $ — $ 477 $ — $ — $ 477 Charge-offs — — — — — — Recoveries — — — — — — Net provision for loan losses — — (444 ) — — (444 ) Ending balance $ — $ — $ 33 $ — $ — $ 33 Ending balance: Individually evaluated for impairment $ — $ — $ 33 $ — $ — $ 33 Amounts related to acquired-impaired loans — — — — — — Collectively evaluated for impairment — — — — — — Loans: Ending balance: $ 59,843 $ 5,080 $ 176,460 $ 27 $ 20 $ 241,430 Individually evaluated for impairment — — 2,340 — — 2,340 Acquired-impaired loans 6,476 4,976 11,042 27 20 22,541 Collectively evaluated for impairment 53,367 104 163,078 — — 216,549 Commercial Construction Commercial Residential Consumer Total (in thousands) Year Ended December 31, 2015 FDIC acquired loans Allowance for loan losses: Beginning balance $ 911 $ 1,008 $ 4,061 $ 20,609 $ 3,995 $ 30,584 Charge-offs (1,427 ) (410 ) (2,743 ) (772 ) (143 ) (5,495 ) Recoveries 1,704 910 992 84 196 3,886 Net provision for loan losses (1,018 ) (845 ) (1,026 ) 1,147 (1,313 ) (3,055 ) Increase (decrease) in FDIC loss share receivable 276 (6 ) 523 (3,405 ) (188 ) (2,800 ) Ending balance $ 446 $ 657 $ 1,807 $ 17,663 $ 2,547 $ 23,120 Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — Amounts related to acquired-impaired loans 446 657 1,807 17,663 2,547 23,120 Collectively evaluated for impairment — — — — — — Loans: Ending balance: $ 5,528 $ 7,127 $ 15,582 $ 162,241 $ 12,819 $ 203,297 Individually evaluated for impairment — — — — — — Acquired-impaired loans 5,528 7,127 15,582 162,241 12,819 203,297 Collectively evaluated for impairment — — — — — — Total loans Allowance for loan losses: Beginning balance $ 51,169 $ 6,421 $ 21,082 $ 28,660 $ 21,430 $ 128,762 Charge-offs (8,361 ) (2,834 ) (4,225 ) (2,407 ) (16,831 ) (34,658 ) Recoveries 5,046 3,089 3,397 771 4,534 16,837 Net provision for loan losses 61,298 (1,028 ) (4,878 ) 1,734 15,912 73,038 Increase (decrease) in FDIC loss share receivable 276 (6 ) 523 (3,405 ) (188 ) (2,800 ) Ending balance $ 109,428 $ 5,642 $ 15,899 $ 25,353 $ 24,857 $ 181,179 Ending balance: Individually evaluated for impairment $ 19,031 $ 392 $ 1,405 $ 127 $ 33 $ 20,988 Amounts related to acquired-impaired loans 446 657 1,807 17,663 2,547 23,120 Collectively evaluated for impairment 89,951 4,593 12,687 7,563 22,277 137,071 Loans: Ending balance: $ 6,995,824 $ 1,151,950 $ 3,412,551 $ 2,049,524 $ 2,093,465 $ 15,703,314 Individually evaluated for impairment 81,622 14,226 16,531 895 152 113,426 Acquired-impaired loans 12,004 12,103 26,624 162,268 12,839 225,838 Collectively evaluated for impairment 6,902,198 1,125,621 3,369,396 1,886,361 2,080,474 15,364,050 Commercial Construction Commercial Residential Consumer Total (in thousands) Year Ended December 31, 2014 Originated loans Allowance for loan losses: Beginning balance $ 33,091 $ 6,180 $ 20,649 $ 6,892 $ 12,073 $ 78,885 Charge-offs (6,813 ) (4,770 ) (3,579 ) (2,285 ) (14,055 ) (31,502 ) Recoveries 3,047 4,000 1,678 644 5,014 14,383 Net provision for loan losses 20,933 3 (2,204 ) 2,800 14,403 35,935 Ending balance $ 50,258 $ 5,413 $ 16,544 $ 8,051 $ 17,435 $ 97,701 Ending balance: Individually evaluated for impairment $ 14 $ 19 $ 11 $ 330 $ 3 $ 377 Collectively evaluated for impairment 50,244 5,394 16,533 7,721 17,432 97,324 Loans: Ending balance: $ 5,917,728 $ 1,073,964 $ 2,428,195 $ 1,704,770 $ 1,685,542 $ 12,810,199 Individually evaluated for impairment 3,987 8,250 12,121 2,656 6 27,020 Collectively evaluated for impairment 5,913,741 1,065,714 2,416,074 1,702,114 1,685,536 12,783,179 Acquired loans Allowance for loan losses: Beginning balance $ 1,603 $ 10 $ 34 $ — $ — $ 1,647 Charge-offs — — — — — — Recoveries — — — — — — Net provision for loan losses (1,603 ) (10 ) 443 — — (1,170 ) Ending balance $ — $ — $ 477 $ — $ — $ 477 Ending balance: Individually evaluated for impairment $ — $ — $ 477 $ — $ — $ 477 Amounts related to acquired-impaired loans — — — — — — Collectively evaluated for impairment — — — — — — Loans: Ending balance: $ 120,137 $ 21,123 $ 688,045 $ 2,378 $ 985 $ 832,668 Individually evaluated for impairment — — 2,691 — — 2,691 Acquired-impaired loans 8,446 19,681 29,777 2,378 985 61,267 Collectively evaluated for impairment 111,691 1,442 655,577 — — 768,710 Commercial Construction Commercial Residential Consumer Total (in thousands) Year Ended December 31, 2014 FDIC acquired loans Allowance for loan losses: Beginning balance $ 2,323 $ 2,655 $ 10,929 $ 27,989 $ 9,198 $ 53,094 Charge-offs (221 ) (148 ) (5,350 ) (1,008 ) (1,270 ) (7,997 ) Recoveries 485 3,138 1,441 1 431 5,496 Net provision for loan losses (83 ) (208 ) (139 ) (299 ) (196 ) (925 ) Decrease in FDIC loss share receivable (1,593 ) (4,429 ) (2,820 ) (6,074 ) (4,168 ) (19,084 ) Ending balance $ 911 $ 1,008 $ 4,061 $ 20,609 $ 3,995 $ 30,584 Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — Amounts related to acquired-impaired loans 911 1,008 4,061 20,609 3,995 30,584 Collectively evaluated for impairment — — — — — — Loans: Ending balance: $ 6,195 $ 11,674 $ 27,808 $ 187,033 $ 19,699 $ 252,409 Individually evaluated for impairment — — — — — — Acquired-impaired loans 6,195 11,674 27,808 187,033 19,699 252,409 Collectively evaluated for impairment — — — — — — Total loans Allowance for loan losses: Beginning balance $ 37,017 $ 8,845 $ 31,612 $ 34,881 $ 21,271 $ 133,626 Charge-offs (7,034 ) (4,918 ) (8,929 ) (3,293 ) (15,325 ) (39,499 ) Recoveries 3,532 7,138 3,119 645 5,445 19,879 Net provision for loan losses 19,247 (215 ) (1,900 ) 2,501 14,207 33,840 Decrease in FDIC loss share receivable (1,593 ) (4,429 ) (2,820 ) (6,074 ) (4,168 ) (19,084 ) Ending balance $ 51,169 $ 6,421 $ 21,082 $ 28,660 $ 21,430 $ 128,762 Ending balance: Individually evaluated for impairment $ 14 $ 19 $ 488 $ 330 $ 3 $ 854 Amounts related to acquired-impaired loans 911 1,008 4,061 20,609 3,995 30,584 Collectively evaluated for impairment 50,244 5,394 16,533 7,721 17,432 97,324 Loans: Ending balance: $ 6,044,060 $ 1,106,761 $ 3,144,048 $ 1,894,181 $ 1,706,226 $ 13,895,276 Individually evaluated for impairment 3,987 8,250 14,812 2,656 6 29,711 Acquired-impaired loans 14,641 31,355 57,585 189,411 20,684 313,676 Collectively evaluated for impairment 6,025,432 1,067,156 3,071,651 1,702,114 1,685,536 13,551,889 |
Schedule of Activity in Loss Share Receivable | The following schedule shows activity in the FDIC loss share receivable for 2015 and 2014: (in thousands) Years Ended December 31, 2015 2014 Balance, January 1 $ 60,272 $ 113,834 Amortization (5,747 ) (12,102 ) Charge-offs, write-downs and other (recoveries) losses (8,072 ) (2,245 ) External expenses qualifying under loss share agreement 2,677 4,532 Changes due to changes in cash flow projections (2,800 ) (19,084 ) FDIC resolution of denied claims (2,411 ) (10,268 ) Net payments from FDIC (14,051 ) (14,395 ) Balance, December 31 $ 29,868 $ 60,272 |
Summary of Composition of Non-Accrual Loans by Portfolio Segment | The following table shows the composition of nonaccrual loans by portfolio segment and class. Acquired-impaired and certain FDIC acquired loans are considered to be performing due to the application of the accretion method and are excluded from the table. FDIC acquired loans accounted for using the cost recovery method do not have an accretable yield and are included below as nonaccrual loans. Acquired-performing loans that have subsequently been placed on nonaccrual status are also included below. (in thousands) December 31, 2015 December 31, 2014 Originated loans: Commercial non-real estate $ 88,743 $ 15,511 Construction and land development 17,294 6,462 Commercial real estate 17,824 22,047 Residential mortgages 23,799 21,702 Consumer 9,061 5,574 Total originated loans $ 156,721 $ 71,296 Acquired loans: Commercial non-real estate $ — $ — Construction and land development — — Commercial real estate 2,992 6,139 Residential mortgages — — Consumer — — Total acquired loans $ 2,992 $ 6,139 FDIC acquired loans: Commercial non-real estate $ — $ — Construction and land development — 1,103 Commercial real estate — 433 Residential mortgages — 392 Consumer — 174 Total FDIC acquired loans $ — $ 2,102 Total loans: Commercial non-real estate $ 88,743 $ 15,511 Construction and land development 17,294 7,565 Commercial real estate 20,816 28,619 Residential mortgages 23,799 22,094 Consumer 9,061 5,748 Total loans $ 159,713 $ 79,537 |
Schedule of Troubled Debt Restructurings Occurred During Period by Portfolio Segment | The table below details the TDRs that occurred during 2015 and 2014 by portfolio segment. Substantially all TDRs during 2015 and 2014 were extended amortization or other modification of payment terms. All are individually evaluated for impairment. Troubled Debt Restructurings: Years Ended 2015 2014 Number of Outstanding Recorded Investment Number Contracts Outstanding Recorded Investment ($ in thousands) Pre- Post- Pre- Post- Originated loans: Commercial non-real estate 1 $ 4,420 $ 4,420 1 $ 29 $ 29 Construction and land development — — — — — — Commercial real estate 1 485 482 3 4,488 4,446 Residential mortgages 4 195 185 7 1,961 1,090 Consumer 1 20 20 1 8 8 Total originated loans 7 $ 5,120 $ 5,107 12 $ 6,486 $ 5,573 Acquired loans: Commercial non-real estate — $ — $ — — $ — $ — Construction and land development — — — — — — Commercial real estate — — — — — — Residential mortgages — — — — — — Consumer — — — — — — Total acquired loans — $ — $ — — $ — $ — FDIC acquired loans: Commercial non-real estate — $ — $ — — $ — $ — Construction and land development — — — — — — Commercial real estate — — — — — — Residential mortgages — — — — — — Consumer — — — — — — Total FDIC acquired loans — $ — $ — $ — $ — $ — Total loans: Commercial non-real estate 1 $ 4,420 $ 4,420 1 $ 29 $ 29 Construction and land development — — — — — — Commercial real estate 1 485 482 3 4,488 4,446 Residential mortgages 4 195 185 7 1,961 1,090 Consumer 1 20 20 1 8 8 Total loans 7 $ 5,120 $ 5,107 12 $ 6,486 $ 5,573 |
Summary of Impaired Loans Disaggregated by Class | The tables below present loans that are individually evaluated for impairment disaggregated by class at December 31, 2015 and December 31, 2014. Loans individually evaluated for impairment include TDRs and loans that are determined to be impaired and have aggregate relationship balances of $1 million or more. December 31, 2015 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Originated loans: With no related allowance recorded: Commercial non-real estate $ 34,788 $ 37,285 $ — $ 18,860 $ — Construction and land development 12,461 12,461 — 2,459 — Commercial real estate 7,785 8,499 — 10,933 35 Residential mortgages — — — 259 2 Consumer — — — 74 — 55,034 58,245 — 32,585 37 With an allowance recorded: Commercial non-real estate 46,834 47,703 19,031 22,414 11 Construction and land development 1,765 2,323 392 3,049 66 Commercial real estate 6,406 6,413 1,372 12,488 104 Residential mortgages 895 1,405 127 1,359 20 Consumer 152 152 33 45 4 56,052 57,996 20,955 39,355 205 Total: Commercial non-real estate 81,622 84,988 19,031 41,274 11 Construction and land development 14,226 14,784 392 5,508 66 Commercial real estate 14,191 14,912 1,372 23,421 139 Residential mortgages 895 1,405 127 1,618 22 Consumer 152 152 33 119 4 Total originated loans $ 111,086 $ 116,241 $ 20,955 $ 71,940 $ 242 Acquired loans: With an allowance recorded: Commercial non-real estate $ — $ — $ — $ — $ — Construction and land development — — — — — Commercial real estate 2,340 2,382 33 2,244 — Residential mortgages — — — — — Consumer — — — — — 2,340 2,382 33 2,244 — Total: Commercial non-real estate — — — — — Construction and land development — — — — — Commercial real estate 2,340 2,382 33 2,244 — Residential mortgages — — — — — Consumer — — — — — Total acquired loans $ 2,340 $ 2,382 $ 33 $ 2,244 $ — Total loans: With no related allowance recorded: Commercial non-real estate $ 34,788 $ 37,285 $ — $ 18,860 $ — Construction and land development 12,461 12,461 — 2,459 — Commercial real estate 7,785 8,499 — 10,933 35 Residential mortgages — — — 259 2 Consumer — — — 74 — 55,034 58,245 — 32,585 37 With an allowance recorded: Commercial non-real estate 46,834 47,703 19,031 22,414 11 Construction and land development 1,765 2,323 392 3,049 66 Commercial real estate 8,746 8,795 1,405 14,732 104 Residential mortgages 895 1,405 127 1,359 20 Consumer 152 152 33 45 4 58,392 60,378 20,988 41,599 205 Total: Commercial non-real estate 81,622 84,988 19,031 41,274 11 Construction and land development 14,226 14,784 392 5,508 66 Commercial real estate 16,531 17,294 1,405 25,665 139 Residential mortgages 895 1,405 127 1,618 22 Consumer 152 152 33 119 4 Total loans $ 113,426 $ 118,623 $ 20,988 $ 74,184 $ 242 December 31, 2014 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Originated loans: With no related allowance recorded: Commercial non-real estate $ 3,003 $ 3,646 $ — $ 1,209 $ 51 Construction and land development 3,345 6,486 — 3,330 142 Commercial real estate 8,467 10,575 — 8,461 331 Residential mortgages — — — 88 3 Consumer — — — — — 14,815 20,707 — 13,088 527 With an allowance recorded: Commercial non-real estate 984 984 14 5,522 99 Construction and land development 4,905 4,906 19 6,660 137 Commercial real estate 3,654 3,654 11 7,500 109 Residential mortgages 2,656 3,311 330 2,204 50 Consumer 6 6 3 1 — 12,205 12,861 377 21,887 395 Total: Commercial non-real estate 3,987 4,630 14 6,732 150 Construction and land development 8,250 11,392 19 9,990 279 Commercial real estate 12,121 14,229 11 15,961 439 Residential mortgages 2,656 3,311 330 2,292 53 Consumer 6 6 3 1 — Total originated loans $ 27,020 $ 33,568 $ 377 $ 34,976 $ 921 Acquired loans: With no related allowance recorded: Commercial non-real estate $ — $ — $ — $ 357 $ — Construction and land development — — — 121 — Commercial real estate — — — 311 — Residential mortgages — — — 88 — Consumer — — — — — — — — 877 — With an allowance recorded: Commercial non-real estate — — — 1,059 122 Construction and land development — — — 1,037 56 Commercial real estate 2,691 2,720 477 1,357 75 Residential mortgages — — — — — Consumer — — — — — 2,691 2,720 477 3,453 253 Total: Commercial non-real estate — — — 1,416 122 Construction and land development — — — 1,158 56 Commercial real estate 2,691 2,720 477 1,668 75 Residential mortgages — — — 88 — Consumer — — — — — Total acquired loans $ 2,691 $ 2,720 $ 477 $ 4,330 $ 253 Total loans: With no related allowance recorded: Commercial non-real estate $ 3,003 $ 3,646 $ — $ 1,566 $ 51 Construction and land development 3,345 6,486 — 3,451 142 Commercial real estate 8,467 10,575 — 8,772 331 Residential mortgages — — — 176 3 Consumer — — — — — 14,815 20,707 — 13,965 527 With an allowance recorded: Commercial non-real estate 984 984 14 6,581 221 Construction and land development 4,905 4,906 19 7,697 193 Commercial real estate 6,345 6,374 488 8,857 184 Residential mortgages 2,656 3,311 330 2,204 50 Consumer 6 6 3 1 — 14,896 15,581 854 25,340 648 Total: Commercial non-real estate 3,987 4,630 14 8,147 272 Construction and land development 8,250 11,392 19 11,148 335 Commercial real estate 14,812 16,949 488 17,629 515 Residential mortgages 2,656 3,311 330 2,380 53 Consumer 6 6 3 1 — Total loans $ 29,711 $ 36,288 $ 854 $ 39,305 $ 1,175 |
Summary of Age Analysis of Past Due Loans | The following table presents the age analysis of past due loans at December 31, 2015 and December 31, 2014. FDIC acquired and acquired-impaired loans with an accretable yield are considered to be current in the following delinquency table: December 31, 2015 30-59 days past due 60-89 days past due Greater than 90 days past due Total past due Current Total Loans Recorded investment > 90 days and accruing (in thousands) Originated loans: Commercial non-real estate $ 17,406 $ 1,468 $ 25,007 $ 43,881 $ 6,886,572 $ 6,930,453 $ 3,060 Construction and land development 19,886 436 4,043 24,365 1,115,378 1,139,743 1,230 Commercial real estate 6,754 1,329 12,503 20,586 3,199,923 3,220,509 1,034 Residential mortgages 18,657 4,360 11,840 34,857 1,852,399 1,887,256 163 Consumer 16,309 4,432 8,645 29,386 2,051,240 2,080,626 2,166 Total $ 79,012 $ 12,025 $ 62,038 $ 153,075 $ 15,105,512 $ 15,258,587 $ 7,653 Acquired loans: Commercial non-real estate $ — $ — $ — $ — $ 59,843 $ 59,843 $ — Construction and land development — — — — 5,080 5,080 — Commercial real estate 15 76 525 616 175,844 176,460 — Residential mortgages — — — — 27 27 — Consumer — — — — 20 20 — Total $ 15 $ 76 $ 525 $ 616 $ 240,814 $ 241,430 $ — FDIC acquired loans: Commercial non-real estate $ — $ — $ — $ — $ 5,528 $ 5,528 $ — Construction and land development — — — — 7,127 7,127 — Commercial real estate — — — — 15,582 15,582 — Residential mortgages — — — — 162,241 162,241 — Consumer — — — — 12,819 12,819 — Total $ — $ — $ — $ — $ 203,297 $ 203,297 $ — Total loans: Commercial non-real estate $ 17,406 $ 1,468 $ 25,007 $ 43,881 $ 6,951,943 $ 6,995,824 $ 3,060 Construction and land development 19,886 436 4,043 24,365 1,127,585 1,151,950 1,230 Commercial real estate 6,769 1,405 13,028 21,202 3,391,349 3,412,551 1,034 Residential mortgages 18,657 4,360 11,840 34,857 2,014,667 2,049,524 163 Consumer 16,309 4,432 8,645 29,386 2,064,079 2,093,465 2,166 Total $ 79,027 $ 12,101 $ 62,563 $ 153,691 $ 15,549,623 $ 15,703,314 $ 7,653 December 31, 2014 30-59 days past due 60-89 days past due Greater than 90 days past due Total past due Current Total Loans Recorded investment > 90 days and accruing (in thousands) Originated loans: Commercial non-real estate $ 4,380 $ 1,742 $ 8,560 $ 14,682 $ 5,903,046 $ 5,917,728 $ 630 Construction and land development 6,620 1,532 4,453 12,605 1,061,359 1,073,964 142 Commercial real estate 6,527 2,964 13,234 22,725 2,405,470 2,428,195 696 Residential mortgages 14,730 3,261 11,208 29,199 1,675,571 1,704,770 1,199 Consumer 8,422 2,450 4,365 15,237 1,670,305 1,685,542 1,897 Total $ 40,679 $ 11,949 $ 41,820 $ 94,448 $ 12,715,751 $ 12,810,199 $ 4,564 Acquired loans: Commercial non-real estate $ — $ — $ — $ — $ 120,137 $ 120,137 $ — Construction and land development 111 — — 111 21,012 21,123 — Commercial real estate 3,861 282 1,591 5,734 682,311 688,045 261 Residential mortgages — — — — 2,378 2,378 — Consumer — — — — 985 985 — Total $ 3,972 $ 282 $ 1,591 $ 5,845 $ 826,823 $ 832,668 $ 261 FDIC acquired loans: Commercial non-real estate $ — $ — $ — $ — $ 6,195 $ 6,195 $ — Construction and land development — — 1,103 1,103 10,571 11,674 — Commercial real estate — — 433 433 27,375 27,808 — Residential mortgages — 272 — 272 186,761 187,033 — Consumer 1 — 34 35 19,664 19,699 — Total $ 1 $ 272 $ 1,570 $ 1,843 $ 250,566 $ 252,409 $ — Total loans: Commercial non-real estate $ 4,380 $ 1,742 $ 8,560 $ 14,682 $ 6,029,378 $ 6,044,060 $ 630 Construction and land development 6,731 1,532 5,556 13,819 1,092,942 1,106,761 142 Commercial real estate 10,388 3,246 15,258 28,892 3,115,156 3,144,048 957 Residential mortgages 14,730 3,533 11,208 29,471 1,864,710 1,894,181 1,199 Consumer 8,423 2,450 4,399 15,272 1,690,954 1,706,226 1,897 Total $ 44,652 $ 12,503 $ 44,981 $ 102,136 $ 13,793,140 $ 13,895,276 $ 4,825 |
Changes in Carrying Amount of 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, 2015 and 2014: December 31, 2015 December 31, 2014 FDIC acquired Acquired FDIC acquired Acquired (in thousands) Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Accretable Yield Balance at beginning of period $ 252,409 $ 112,788 $ 61,276 $ 74,668 $ 358,666 $ 122,715 $ 68,075 $ 131,370 Payments received, net (62,579 ) (422 ) (53,268 ) (21,556 ) (125,388 ) (1,071 ) (50,178 ) (32,855 ) Accretion 13,467 (13,467 ) 14,533 (14,533 ) 19,131 (19,131 ) 43,379 (43,379 ) Decrease in expected cash flows based on actual cash flow and changes in cash flow assumptions — (3,537 ) — (701 ) — (1,137 ) — (203 ) Net transfers from nonaccretable difference to accretable yield — (3,798 ) — 46 — 11,412 — 19,735 Balance at end of period $ 203,297 $ 91,564 $ 22,541 $ 37,924 $ 252,409 $ 112,788 $ 61,276 $ 74,668 |
Commercial Non-Real Estate [Member] | |
Schedule of Credit Quality Indicators of Various Classes of Loans - Credit Risk Profile by Internally Assigned Grade | The following table presents the credit quality indicators of the Company’s various classes of loans at December 31, 2015 and December 31, 2014. Commercial Non-Real Estate Loans Credit Risk Profile by Internally Assigned Grade December 31, 2015 December 31, 2014 (in thousands) Originated Acquired FDIC acquired Total Originated Acquired FDIC acquired Total Grade: Pass $ 6,205,372 $ 53,381 $ 2,110 $ 6,260,863 $ 5,577,827 $ 111,847 $ 2,027 $ 5,691,701 Pass-Watch 167,720 — 869 168,589 174,742 715 1,120 176,577 Special Mention 211,230 — — 211,230 52,962 350 — 53,312 Substandard 346,087 6,462 2,549 355,098 112,153 7,225 3,017 122,395 Doubtful 44 — — 44 44 — 31 75 Total $ 6,930,453 $ 59,843 $ 5,528 $ 6,995,824 $ 5,917,728 $ 120,137 $ 6,195 $ 6,044,060 |
Construction and Land Development [Member] | |
Schedule of Credit Quality Indicators of Various Classes of Loans - Credit Risk Profile Based on Payment Activity | Construction Loans Credit Risk Profile by Internally Assigned Grade December 31, 2015 December 31, 2014 (in thousands) Originated Acquired FDIC acquired Total Originated Acquired FDIC acquired Total Grade: Pass $ 1,092,299 $ 910 $ 2,087 $ 1,095,296 $ 1,012,128 $ 14,377 $ 2,468 $ 1,028,973 Pass-Watch 5,709 223 909 6,841 21,516 432 532 22,480 Special Mention 12,017 — 280 12,297 7,097 129 319 7,545 Substandard 29,718 3,947 3,851 37,516 33,223 6,185 8,355 47,763 Total $ 1,139,743 $ 5,080 $ 7,127 $ 1,151,950 $ 1,073,964 $ 21,123 $ 11,674 $ 1,106,761 |
Commercial Real Estate [Member] | |
Schedule of Credit Quality Indicators of Various Classes of Loans - Credit Risk Profile by Internally Assigned Grade | Commercial Real Estate Loans Credit Risk Profile by Internally Assigned Grade December 31, 2015 December 31, 2014 (in thousands) Originated Acquired FDIC acquired Total Originated Acquired FDIC acquired Total Grade: Pass $ 3,058,342 $ 159,750 $ 3,117 $ 3,221,209 $ 2,241,391 $ 641,966 $ 4,139 $ 2,887,496 Pass-Watch 41,830 2,355 2,296 46,481 61,589 11,142 4,547 77,278 Special Mention 40,576 5,112 1,364 47,052 21,543 8,113 1,319 30,975 Substandard 79,745 9,243 8,805 97,793 103,651 26,824 17,803 148,278 Doubtful 16 — — 16 21 — — 21 Total $ 3,220,509 $ 176,460 $ 15,582 $ 3,412,551 $ 2,428,195 $ 688,045 $ 27,808 $ 3,144,048 |
Residential Mortgages [Member] | |
Schedule of Credit Quality Indicators of Various Classes of Loans - Credit Risk Profile Based on Payment Activity and Accrual Status | Residential Mortgage Loans Credit Risk Profile Based on Payment Activity and Accrual Status December 31, 2015 December 31, 2014 (in thousands) Originated Acquired FDIC acquired Total Originated Acquired FDIC acquired Total Performing $ 1,863,295 $ 27 $ 162,241 $ 2,025,563 $ 1,681,868 $ 2,378 $ 186,641 $ 1,870,887 Nonperforming 23,961 — — 23,961 22,902 — 392 23,294 Total $ 1,887,256 $ 27 $ 162,241 $ 2,049,524 $ 1,704,770 $ 2,378 $ 187,033 $ 1,894,181 |
Consumer [Member] | |
Schedule of Credit Quality Indicators of Various Classes of Loans - Credit Risk Profile Based on Payment Activity and Accrual Status | Consumer Loans Credit Risk Profile Based on Payment Activity and Accrual Status December 31, 2015 December 31, 2014 (in thousands) Originated Acquired FDIC acquired Total Originated Acquired FDIC acquired Total Performing $ 2,069,399 $ 20 $ 12,819 $ 2,082,238 $ 1,678,069 $ 985 $ 19,525 $ 1,698,579 Nonperforming 11,227 — — 11,227 7,473 — 174 7,647 Total $ 2,080,626 $ 20 $ 12,819 $ 2,093,465 $ 1,685,542 $ 985 $ 19,699 $ 1,706,226 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | Property and equipment consisted of the following: December 31, (in thousands) 2015 2014 Land and land improvements $ 81,940 $ 86,039 Buildings and leasehold improvements 339,309 348,450 Furniture, fixtures and equipment 95,364 90,244 Software 65,383 57,305 Assets under development 4,782 9,873 586,778 591,911 Accumulated depreciation and amortization (209,763 ) (193,527 ) Property and equipment, net $ 377,015 $ 398,384 |
Goodwill and Other Intangible32
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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: December 31, 2015 (in thousands) Purchase Accumulated Carrying Core deposit intangibles $ 190,655 $ 97,026 $ 93,629 Credit card and trust relationships 22,400 12,735 9,665 Trade name 11,722 11,722 — Merchant processing relationships 10,000 5,756 4,244 $ 234,777 $ 127,239 $ 107,538 December 31, 2014 (in thousands) Purchase Accumulated Carrying Core deposit intangibles $ 198,002 $ 85,254 $ 112,748 Credit card and trust relationships 22,400 10,366 12,034 Non-compete agreements 400 400 — Trade name 11,722 9,334 2,388 Merchant processing relationships 10,000 4,360 5,640 $ 242,524 $ 109,714 $ 132,810 Years Ended December 31, (in thousands) 2015 2014 2013 Aggregate amortization expense for: Core deposit intangibles $ 18,031 $ 19,897 $ 21,905 Credit card and trust relationships 2,369 2,566 2,819 Value of insurance business acquired — 34 148 Non-compete agreements — 100 200 Trade name 2,388 2,605 2,605 Merchant processing relationships 1,396 1,595 1,793 $ 24,184 $ 26,797 $ 29,470 |
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): 2016 $ 19,782 2017 17,814 2018 15,842 2019 13,328 2020 10,529 Thereafter 30,243 $ 107,538 |
Time Deposits (Tables)
Time Deposits (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Maturities of Time Deposits | The maturity of time deposits at December 31, 2015 follows: (in thousands) 2016 $ 1,419,164 2017 557,833 2018 169,604 2019 67,636 2020 17,297 Thereafter 9,750 Total time deposits $ 2,241,284 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | The following table presents information concerning short-term borrowings: December 31, (in thousands) 2015 2014 Federal funds purchased: Amount outstanding at period-end $ 10,100 $ 12,000 Average amount outstanding during period 15,992 12,196 Maximum amount at any month-end during period 13,675 12,000 Weighted-average interest at period-end 0.13 % 0.13 % Weighted-average interest rate during period 0.26 % 0.25 % Securities sold under agreements to repurchase: Amount outstanding at period-end $ 513,544 $ 624,573 Average amount outstanding during period 539,169 688,704 Maximum amount at any month-end during period 609,671 816,617 Weighted-average interest at period-end 0.03 % 0.03 % Weighted-average interest rate during period 0.03 % 0.27 % FHLB borrowings: Amount outstanding at period-end $ 900,000 $ 515,000 Average amount outstanding during period 469,973 304,781 Maximum amount at any month-end during period 900,000 565,000 Weighted-average interest at period-end 0.32 % 0.12 % Weighted-average interest rate during period 0.18 % 0.15 % |
Long-term Debt (Tables)
Long-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | Long-term debt consisted of the following: December 31, (in thousands) 2015 2014 Subordinated notes payable, maturing June 2045 $ 150,000 $ — Subordinated notes payable, maturing April 2017 98,011 98,011 Term note payable, maturing December 2018 125,000 — Term note payable, maturing December 2015 — 149,600 Other long-term debt 122,988 126,760 Total long-term debt $ 495,999 $ 374,371 |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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 of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets as of December 31, 2015 and 2014. Fair Values (1) Notional Amounts Assets Liabilities (in thousands) Type of December 31, December 31, December 31, December 31, December 31, December 31, Derivatives designated as hedging instruments: Interest rate swaps Cash Flow $ 500,000 $ 300,000 $ — $ — $ 281 $ 592 $ 500,000 $ 300,000 $ — $ — $ 281 $ 592 Derivatives not designated as hedging instruments: Interest rate swaps (2) N/A $ 780,871 $ 747,754 $ 20,622 $ 17,806 $ 21,007 $ 18,419 Risk participation agreements N/A 83,430 80,438 83 125 162 208 Forward commitments to sell residential mortgage loans N/A 55,128 52,238 263 80 336 250 Interest rate-lock commitments on residential mortgage loans N/A 38,853 33,068 243 111 167 44 Foreign exchange forward contracts N/A 44,068 89,432 2,040 1,310 2,015 1,347 $ 1,002,350 $ 1,002,930 $ 23,251 $ 19,432 $ 23,687 $ 20,268 (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 these master netting agreements at December 31, 2015 and December 31, 2014 is presented in the following tables: As of December 31, 2015 Gross Gross the Net Amounts in the Gross Amounts Not Offset in the (in thousands) Financial Cash Net Derivative Assets $ 224 $ — $ 224 $ 224 $ — $ — Derivative Liabilities $ 21,034 $ — $ 21,034 $ 224 $ 23,482 $ (2,672 ) As of December 31, 2014 Gross Gross the Statement Net Amounts in the Gross Amounts Not Offset in the (in thousands) Financial Cash Net Derivative Assets $ 650 $ — $ 650 $ 650 $ — $ — Derivative Liabilities $ 16,771 $ — $ 16,771 $ 650 $ 17,343 $ (1,222 ) |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Components of Accumulated Other Comprehensive Income (Loss) | A roll forward of the components of AOCI is included as follows: (in thousands) Available HTM Employee Cash Total Balance, December 31, 2012 $ 38,854 $ 19,090 $ (80,688 ) $ (181 ) $ (22,925 ) Net change in unrealized loss (105,270 ) — — (4 ) (105,274 ) Transfer of net unrealized loss from AFS to HTM, net of cumulative tax effect 36,208 (36,208 ) — — — Reclassification of net (gain) loss realized and included in earnings (105 ) — 8,331 301 8,527 Valuation adjustment for employee benefit plans — — 82,653 — 82,653 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 ) Net change in unrealized gain (loss) 15,413 — — (592 ) 14,821 Reclassification of net loss realized and included in earnings — — 390 — 390 Valuation adjustment for employee benefit plans — — (41,244 ) — (41,244 ) Amortization of unrealized net loss on securities transferred to held to maturity — 3,297 — — 3,297 Income tax expense (benefit) 5,675 1,182 (14,681 ) (217 ) (8,041 ) Balance, December 31, 2014 $ 18,001 $ (19,074 ) $ (48,626 ) $ (375 ) $ (50,074 ) Net change in unrealized (loss) gain (21,581 ) — — 311 (21,270 ) Reclassification of net (gain) loss realized and included in earnings (165 ) — 3,175 — 3,010 Valuation adjustment for employee benefit plans — — (33,971 ) — (33,971 ) Amortization of unrealized net loss on securities transferred to held to maturity — 3,530 — — 3,530 Income tax expense (benefit) (8,013 ) 1,251 (11,532 ) 114 (18,180 ) Balance, December 31, 2015 $ 4,268 $ (16,795 ) $ (67,890 ) $ (178 ) $ (80,595 ) |
Summary of Line 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 AOCI: Year Ended December 31, Amount reclassified from AOCI (a) (in thousands) 2015 2014 Increase (decrease) in affected line item in the Gain on sale of AFS securities $ 165 $ — Securities gains (losses) Tax effect (58 ) — Income taxes Net of tax 107 — Net income Amortization of unrealized net loss on securities transferred to HTM $ (3,530 ) $ (3,297 ) Interest income Tax effect 1,236 1,154 Income taxes Net of tax (2,294 ) (2,143 ) Net income Amortization of defined benefit pension and post-retirement items (b) $ (3,175 ) $ (390 ) Employee benefits expense Tax effect 1,111 137 Income taxes Net of tax (2,064 ) (253 ) Net income Total reclassifications, net of tax $ (4,251 ) $ 2,396 Net income (a) Amounts in parenthesis indicate reduction in net income. (b) These AOCI components are included in the computation of net periodic pension and post-retirement cost that is reported with employee benefits expense (see footnote 15 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 Bank together with corresponding regulatory capital requirements at December 31, 2015 and 2014: Actual Required for Minimum Required To Be Well ($ in thousands) Amount Ratio % Amount Ratio % Amount Ratio % At December 31, 2015 Tier 1 leverage capital Company $ 1,844,992 8.55 $ 863,289 4.00 $ 1,079,111 5.00 Whitney Bank 1,965,332 9.16 858,551 4.00 1,073,189 5.00 Common equity tier 1 (to risk weighted assets) Company $ 1,844,992 9.96 $ 833,216 4.50 $ 1,203,534 6.50 Whitney Bank 1,965,332 10.64 830,985 4.50 1,200,312 6.50 Tier 1 capital (to risk weighted assets) Company $ 1,844,992 9.96 $ 1,110,954 6.00 $ 1,481,272 8.00 Whitney Bank 1,965,332 10.64 1,107,980 6.00 1,477,306 8.00 Total capital (to risk weighted assets) Company $ 2,195,913 11.86 $ 1,481,272 8.00 $ 1,851,590 10.00 Whitney Bank 2,166,253 11.73 1,477,306 8.00 1,846,633 10.00 At December 31, 2014 Tier 1 leverage capital Company $ 1,777,348 9.17 $ 581,263 3.00 n/a n/a Whitney Bank 1,756,813 9.13 577,493 3.00 $ 962,488 5.00 Tier 1 capital (to risk weighted assets) Company $ 1,777,348 11.23 $ 632,898 4.00 n/a n/a Whitney Bank 1,756,813 11.13 631,220 4.00 $ 946,829 6.00 Total capital (to risk weighted assets) Company $ 1,945,710 12.30 $ 1,265,796 8.00 n/a n/a Whitney Bank 1,925,175 12.20 1,262,439 8.00 $ 1,578,049 10.00 |
Other Noninterest Income and 38
Other Noninterest Income and Other Noninterest Expense (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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: Years Ended December 31, (in thousands) 2015 2014 2013 Other noninterest income: Income from bank-owned life insurance $ 10,881 $ 10,314 $ 11,223 Credit-related fees 11,057 11,121 8,724 Income from derivatives 2,745 1,645 4,675 Gain on sales of assets 186 1,279 1,932 Safety deposit box income 1,758 1,830 1,923 Other miscellaneous income 9,334 9,249 8,754 Total other noninterest income $ 35,961 $ 35,438 $ 37,231 Other noninterest expense: Advertising $ 11,225 $ 8,937 $ 10,399 Ad valorem and franchise taxes 10,498 10,492 9,727 Printing and supplies 4,851 4,550 5,112 Insurance expense 3,482 3,919 4,094 Travel 5,331 4,066 4,716 Entertainment and contributions 6,723 5,762 5,265 Tax credit investment amortization 8,513 8,817 10,781 Other miscellaneous expense 21,580 30,585 45,242 Total other noninterest expense $ 72,203 $ 77,128 $ 95,336 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Components of Income Tax Expense | Income tax expense included in net income consisted of the following components: Years Ended December 31, (in thousands) 2015 2014 2013 Included in net income Current federal $ 17,378 $ 41,441 $ 14,797 Current state 4,241 1,487 (3,207 ) Total current provision 21,619 42,928 11,590 Deferred federal 15,457 21,483 37,403 Deferred state 1,228 2,054 3,517 Total deferred provision 16,685 23,537 40,920 Total included in net income $ 38,304 $ 66,465 $ 52,510 Included in shareholders’ equity Deferred tax related to retirement benefits (11,532 ) $ (14,681 ) $ 32,749 Deferred tax related to securities (6,762 ) 6,857 (40,876 ) Deferred tax related to derivatives and hedging 114 (217 ) 116 Total included in shareholders’ equity $ (18,180 ) $ (8,041 ) $ (8,011 ) |
Components of the Company's Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities were as follows: December 31, (in thousands) 2015 2014 Deferred tax assets: Allowance for loan losses $ 72,940 $ 57,667 Employee compensation and benefits 26,853 50,361 Loan purchase accounting adjustments 18,977 35,094 Tax credit carryforward 42,850 35,553 Securities 5,038 — State net operating loss 1,910 1,535 Other 10,928 8,472 Gross deferred tax assets 179,496 188,682 State valuation allowance (1,910 ) (1,529 ) Subtotal valuation allowance (1,910 ) (1,529 ) Net deferred tax assets 177,586 187,153 Deferred tax liabilities: Fixed assets & intangibles (80,389 ) (88,062 ) Securities — (724 ) FDIC indemnification asset (10,688 ) (18,769 ) Other (10,679 ) (5,263 ) Gross deferred tax liabilities (101,756 ) (112,818 ) Net deferred tax asset $ 75,830 $ 74,335 |
Schedule of Effective Income Tax Rate Reconciliation | A summary of the factors that impacted income tax expense follows: Years Ended December 31, 2015 2014 2013 ($ in thousands) Amount % Amount % Amount % Taxes computed at statutory rate $ 59,418 35 % $ 84,766 35 % $ 75,553 35 % Increases (decreases) in taxes resulting from: State income taxes, net of federal income tax benefit 2,595 2 4,649 2 2,352 1 Tax-exempt interest (7,849 ) (5 ) (6,301 ) (3 ) (6,487 ) (3 ) Bank owned life insurance (3,798 ) (2 ) (3,554 ) (1 ) (3,926 ) (2 ) Tax credits (12,495 ) (7 ) (16,577 ) (7 ) (15,743 ) (7 ) Other, net 433 — 3,482 1 761 — Income tax expense $ 38,304 23 % $ 66,465 27 % $ 52,510 24 % |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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: Years Ended December 31, ($ in thousands, except per share amounts) 2015 2014 2013 Numerator: Net income to common shareholders $ 131,461 $ 175,722 $ 163,356 Net income allocated to participating securities – basic and diluted $ 2,895 $ 3,631 $ 3,105 Net income allocated to common shareholders – basic and diluted $ 128,566 $ 172,091 $ 160,251 Denominator: Weighted-average common shares – basic 78,197 81,804 83,066 Dilutive potential common shares 110 230 101 Weighted average common shares – diluted 78,307 82,034 83,167 Earnings per common share: Basic $ 1.64 $ 2.10 $ 1.93 Diluted $ 1.64 $ 2.10 $ 1.93 |
Retirement Benefit Plans (Table
Retirement Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Components of Defined Benefit Obligation | The following tables detail the changes in the benefit obligations and plan assets of the defined benefit for the years ended December 31, 2015 and 2014 as well as the funded status of the plans at each year end and the amounts recognized in the Company’s balance sheets. The Company uses a December 31 measurement date for all defined benefit pension plans and other postretirement benefit plans. 2015 2014 2015 2014 (in thousands) Pension Benefits Other Post- retirement Benefits Change in benefit obligation Benefit obligation: at beginning of year $ 456,911 $ 412,608 $ 28,368 $ 31,592 Service cost 13,511 12,920 117 126 Interest cost 18,635 19,251 891 1,140 Net actuarial (gain) loss (8,154 ) 29,738 (5,905 ) (3,467 ) Plan participants’ contributions — — 1,334 1,300 Benefits paid (18,084 ) (17,606 ) (2,524 ) (2,323 ) Benefit obligation, end of year 462,819 456,911 22,281 28,368 Change in plan assets Fair value of plan assets: at beginning of year 438,708 437,829 — — Actual return on plan assets (14,421 ) 17,826 — — Employer contributions 86,123 1,123 1,190 1,023 Plan participants’ contributions — — 1,334 1,300 Benefit payments (18,084 ) (17,606 ) (2,524 ) (2,323 ) Expenses (776 ) (464 ) — — Fair value of plan assets, end of year 491,550 438,708 — — Funded status at end of year—net asset (liability) $ 28,731 $ (18,203 ) $ (22,281 ) $ (28,368 ) Amounts recognized in accumulated other comprehensive loss Unrecognized loss: at beginning of year $ 72,858 $ 28,285 $ 3,358 $ 7,189 Net actuarial loss (gain) 36,707 44,573 (5,911 ) (3,831 ) Unrecognized loss at end of year $ 109,565 $ 72,858 $ (2,553 ) $ 3,358 Projected benefit obligation $ 462,819 $ 456,911 Accumulated benefit obligation 429,338 426,073 Fair value of plan assets 491,550 438,708 |
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 AOCI during 2015, 2014, and 2013. Years Ended December 31, 2015 2014 2013 2015 2014 2013 ($ in thousands) Pension benefits Other post-retirement benefits Net periodic benefit cost Service cost $ 13,511 $ 12,920 $ 16,118 $ 117 $ 126 $ 215 Interest cost 18,635 19,251 16,678 891 1,140 1,317 Expected return on plan assets (32,833 ) (32,222 ) (27,928 ) — — — Amortization of net loss/ prior service cost 3,169 26 6,570 6 364 1,761 Net periodic benefit cost 2,482 (25 ) 11,438 1,014 1,630 3,293 Other changes in plan assets and benefit obligations recognized in other comprehensive income, before taxes Net (loss) gain recognized during the year (3,169 ) (26 ) (6,570 ) (6 ) (364 ) (1,761 ) Net actuarial loss (gain) 39,876 44,599 (76,939 ) (5,905 ) (3,467 ) (5,563 ) Total recognized in other comprehensive income 36,707 44,573 (83,509 ) (5,911 ) (3,831 ) (7,324 ) Total recognized in net periodic benefit cost and other comprehensive income $ 39,189 $ 44,548 $ (72,071 ) $ (4,897 ) $ (2,201 ) $ (4,031 ) Discount rate for benefit obligations 4.40 % 4.11 % 4.73 % 4.32 % 4.02 % 4.58 % Discount rate for net periodic benefit cost 4.11 % 4.73 % 3.82 % 4.02 % 4.58 % 3.69 % Expected long-term return on plan assets 7.50 % 7.50 % 7.50 % n/a n/a n/a Rate of compensation increase scaled * scaled * 4.00 % n/a n/a n/a * Graded scale, declining from 7.00% at age 20 to 2.00% at age 60 |
Expected Future Plan Benefit Payments | The following shows expected plan benefit payments over the next ten years: (in thousands) Pension Post-retirement Total 2016 $ 18,997 $ 1,318 $ 20,315 2017 19,992 1,289 21,281 2018 20,942 1,276 22,218 2019 21,750 1,290 23,040 2020 22,764 1,251 24,015 2021-2025 129,722 6,245 135,967 $ 234,167 $ 12,669 $ 246,836 |
Weighted Average Asset Allocations and Target Allocations | The percentage allocations of the plan assets by asset category and corresponding target allocations at December 31, 2015 and 2014 follow: Plan Assets Target Allocation at 2015 2014 2015 2014 Asset category Equity securities 50 % 50 % 30 - 60 % 30 - 60 % Fixed income securities 36 42 25 - 65 % 25 - 65 % Real assets 5 6 0 - 10 % 0 - 10 % Cash equivalents 9 2 0 - 5 % 0 - 5 % 100 % 100 % |
Other Post-retirement Benefits [Member] | |
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, 2015: (in thousands) 1% Decrease Assumed 1% Increase Aggregated service and interest cost $ 886 $ 1,008 $ 1,159 Postretirement benefit obligation 19,820 22,281 25,287 |
Pension Benefits [Member] | |
Fair Values Measurements of Pension Plan Assets | The fair values of pension plan assets at December 31, 2015 and 2014, by asset category, are shown in the following tables. The fair value is presented based on a the Financial Accounting Standards Board’s fair value hierarchy that prioritizes inputs into the valuation techniques used to measure fair value, with Level 1 using quoted prices in active markets for identical assets, Level 2 using significant observable inputs, and Level 3 using significant unobservable inputs. Fair Value Measurements by Asset Category / Fund Total (Level 1) (Level 2) (Level 3) (in thousands) Fair Value Measurements at December 31, 2015 Cash and cash-equivalents: Cash and equivalents $ 44,224 $ 44,224 $ — $ — Total cash and cash-equivalents 44,224 44,224 — — Fixed income: US government and agency securities 11,192 — 11,192 — Municipal securities 31,190 — 31,190 — Emerging market debt fund 24,482 — — 24,482 Foreign bonds, notes and debentures 1,743 — 1,743 — Hancock Horizon Core Bond Fund 47,453 — 47,453 — Corporate debt 61,481 — 61,481 — Other fixed income 186 — 125 61 Total fixed income 177,727 — 153,184 24,543 Real assets: Real assets fund 24,653 24,653 — — Total real assets 24,653 24,653 — — Equity: Hancock Horizon Quantitative Long/Short Fund 5,620 5,620 — — Hancock Horizon Diversified International Fund 73,478 73,478 — — Hancock Horizon Burkenroad Small Cap Fund 9,129 9,129 — — Hancock Horizon Growth Fund 29,447 29,447 — — Hancock Horizon Value Fund 29,378 29,378 — — Equity securities 97,894 97,894 — — Total equity 244,946 244,946 — — Total $ 491,550 $ 313,823 $ 153,184 $ 24,543 Fair Value Measurements by Asset Category / Fund Total (Level 1) (Level 2) (Level 3) (in thousands) Fair Value Measurements at December 31, 2014 Cash and cash-equivalents: Cash and equivalents $ 10,243 $ 10,243 $ — $ — Total cash and cash-equivalents 10,243 10,243 — — Fixed income: US government and agency securities 15,518 1,082 14,436 — Municipal securities 33,980 — 33,980 — Emerging market debt fund 19,505 — — 19,505 Foreign bonds, notes and debentures 2,588 — 2,588 — Hancock Horizon Core Bond Fund 51,529 — 51,529 — Corporate debt 62,429 — 62,429 — Total fixed income 185,549 1,082 164,962 19,505 Real assets: Real assets fund 24,151 24,151 — — Total real assets 24,151 24,151 — — Equity: Hancock Horizon Quantitative Long/Short Fund 5,603 5,603 — — Hancock Horizon Diversified International Fund 62,750 62,750 — — Hancock Horizon Burkenroad Small Cap Fund 9,296 9,296 — — Hancock Horizon Growth Fund 26,469 26,469 — — Hancock Horizon Value Fund 30,321 30,321 — — Equity securities 84,325 84,325 — — Mineral Interests 1 — — 1 Total equity 218,765 218,764 — 1 Total $ 438,708 $ 254,240 $ 164,962 $ 19,506 |
Share-Based Payment Arrangeme42
Share-Based Payment Arrangements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Option Activity Under Stock Option Plans | A summary of option activity for 2015 is presented below: Options Number of Weighted- Weighted- Aggregate Outstanding at January 1, 2015 939,393 $ 37.21 Exercised (11,577 ) 29.94 Cancelled/Forfeited (70,586 ) 36.15 Expired (111,424 ) 34.79 Outstanding at December 31, 2015 745,806 $ 37.55 3.6 $ — Exercisable at December 31, 2015 675,880 $ 38.35 3.4 $ — |
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, 2015 and changes during 2015 are presented below: Number of Weighted- Nonvested at January 1, 2015 2,040,299 $ 32.27 Granted 715,622 28.40 Vested (399,850 ) 32.40 Cancelled/Forfeited (159,926 ) 32.54 Nonvested at December 31, 2015 2,196,145 $ 30.97 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Off-balance Sheet Financial Instruments | These off-balance sheet financial instruments are summarized below: December 31, (in thousands) 2015 2014 Commitments to extend credit $ 5,937,701 $ 5,700,546 Letters of credit 375,227 414,408 |
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, 2015: (in thousands) Operating 2016 $ 13,176 2017 12,411 2018 10,742 2019 8,815 2020 6,213 Thereafter 23,134 Total minimum lease payments $ 74,491 |
Fair Value of Financial Instr44
Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015 (in thousands) Level 1 Level 2 Total Assets Available for sale debt securities: U.S. Treasury and government agency securities $ — $ 134 $ 134 Municipal obligations — 39,607 39,607 Corporate debt securities — 3,500 3,500 Mortgage-backed securities — 1,758,373 1,758,373 Collateralized mortgage obligations — 289,033 289,033 Equity securities 2,757 — 2,757 Total available for sale securities 2,757 2,090,647 2,093,404 Derivative assets (1) — 23,251 23,251 Total recurring fair value measurements – assets $ 2,757 $ 2,113,898 $ 2,116,655 Liabilities Derivative liabilities (1) $ — $ 23,968 $ 23,968 Total recurring fair value measurements – liabilities $ — $ 23,968 $ 23,968 (1) For further disaggregation of derivative assets and liabilities, see Note 9 – Derivatives December 31, 2014 (in thousands) Level 1 Level 2 Total Assets Available for sale debt securities: U.S. Treasury and government agency securities $ — $ 300,508 $ 300,508 Municipal obligations — 14,176 14,176 Corporate debt securities — 3,500 3,500 Mortgage-backed securities — 1,245,564 1,245,564 Collateralized mortgage obligations — 86,864 86,864 Equity securities 9,553 — 9,553 Total available for sale securities 9,553 1,650,612 1,660,165 Derivative assets (1) — 19,432 19,432 Total recurring fair value measurements – assets $ 9,553 $ 1,670,044 $ 1,679,597 Liabilities Derivative liabilities (1) $ — $ 20,860 $ 20,860 Total recurring fair value measurements – liabilities $ — $ 20,860 $ 20,860 (1) For further disaggregation of derivative assets and liabilities, see Note 9 – 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 on a nonrecurring basis: December 31, 2015 (in thousands) Level 1 Level 2 Level 3 Total Collateral dependent impaired loans $ — $ 93,602 $ — $ 93,602 Other real estate owned — — 17,206 17,206 Total nonrecurring fair value measurements $ — $ 93,602 $ 17,206 $ 110,808 December 31, 2014 (in thousands) Level 1 Level 2 Level 3 Total Collateral dependent impaired loans $ — $ 30,204 $ — $ 30,204 Other real estate owned — — 29,715 29,715 Total nonrecurring fair value measurements $ — $ 30,204 $ 29,715 $ 59,919 |
Schedule of Estimated Fair Values of Financial Instruments | The following tables present the estimated fair values of the Company’s financial instruments by fair value hierarchy levels and the corresponding carrying amount at December 31, 2015 and 2014. December 31, 2015 Total Carrying (in thousands) Level 1 Level 2 Level 3 Financial assets: Cash, interest-bearing bank deposits, and federal funds sold $ 869,429 $ — $ — $ 869,429 $ 869,429 Available for sale securities 2,757 2,090,647 — 2,093,404 2,093,404 Held to maturity securities — 2,375,851 — 2,375,851 2,370,388 Loans, net — 93,602 15,334,201 15,427,803 15,522,135 Loans held for sale — 20,434 — 20,434 20,434 Derivative financial instruments — 23,251 — 23,251 23,251 Financial liabilities: Deposits $ — $ — $ 18,327,425 $ 18,327,425 $ 18,348,912 Federal funds purchased 10,100 — — 10,100 10,100 Securities sold under agreements to repurchase 513,544 — — 513,544 513,544 FHLB Borrowings 900,000 — — 900,000 900,000 Long-term debt — 494,565 — 494,565 495,999 Derivative financial instruments — 23,968 — 23,968 23,968 December 31, 2014 Total Fair Value Carrying (in thousands) Level 1 Level 2 Level 3 Financial assets: Cash, interest-bearing bank deposits, and federal funds sold $ 1,159,403 $ — $ — $ 1,159,403 $ 1,159,403 Available for sale securities 9,553 1,650,612 — 1,660,165 1,660,165 Held to maturity securities — 2,186,340 — 2,186,340 2,166,289 Loans, net — 30,204 13,672,427 13,702,631 13,766,514 Loans held for sale — 20,252 — 20,252 20,252 Derivative financial instruments — 19,432 — 19,432 19,432 Financial liabilities: Deposits $ — $ — $ 16,398,878 $ 16,398,878 $ 16,572,831 Federal funds purchased 12,000 — — 12,000 12,000 Securities sold under agreements to repurchase 624,573 — — 624,573 624,573 FHLB Borrowings 515,000 — — 515,000 515,000 Long-term debt — 346,379 — 346,379 374,371 Derivative financial instruments — 20,860 — 20,860 20,860 |
Condensed Parent Company Info45
Condensed Parent Company Information (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheets | Condensed Balance Sheets December 31, (in thousands) 2015 2014 Assets: Cash $ 36,364 $ 44,771 Securities available for sale 83,835 97,423 Investment in bank subsidiaries 2,534,299 2,452,529 Investment in non-bank subsidiaries 3,051 3,202 Due from subsidiaries and other assets 31,168 24,896 $ 2,688,717 $ 2,622,821 Liabilities and Stockholders’ Equity: Long term debt $ 275,000 $ 149,600 Other liabilities 574 819 Stockholders’ equity 2,413,143 2,472,402 $ 2,688,717 $ 2,622,821 |
Condensed Statements of Income | Condensed Statements of Income Years Ended December 31, (in thousands) 2015 2014 2013 Operating Income From subsidiaries Cash dividends received from bank subsidiaries $ 31,000 $ 124,000 $ 249,000 Dividends received from non-bank subsidiaries — — 2,990 Equity in earnings of subsidiaries greater than (less than) dividends received 111,424 58,358 (82,203 ) Total operating income 142,424 182,358 169,787 Other expense, net (17,297 ) (10,035 ) (10,335 ) Income tax benefit (6,334 ) (3,399 ) (3,904 ) Net income $ 131,461 $ 175,722 $ 163,356 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows Years Ended December 31, (in thousands) 2015 2014 2013 Cash flows from operating activities—principally dividends received from subsidiaries $ 30,527 $ 126,491 $ 257,251 Net cash provided by operating activities 30,527 126,491 257,251 Cash flows from investing activities Contribution of capital to subsidiary (90 ) — (870 ) Proceeds from principal paydowns of securities available for sale 12,863 12,664 18,685 Other, net 1,629 — (5,630 ) Net cash provided by investing activities 14,402 12,664 12,185 Cash flows from financing activities: Proceeds from issuance of long term debt 269,004 — — Repayment of long term debt (149,600 ) (35,200 ) (35,200 ) Dividends paid to stockholders (77,474 ) (80,392 ) (81,673 ) Stock transactions, net (95,266 ) (45,130 ) (112,266 ) Net cash used by financing activities (53,336 ) (160,722 ) (229,139 ) Net (decrease) increase in cash (8,407 ) (21,567 ) 40,297 Cash, beginning of year 44,771 66,338 26,041 Cash, end of year $ 36,364 $ 44,771 $ 66,338 |
Summary of Significant Accoun46
Summary of Significant Accounting Policies and Recent Accounting Pronouncements - Additional Information (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($)Subsidiary | |
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items] | |
Number of wholly-owned subsidiaries merged | Subsidiary | 2 |
Maximum refinement period of fair values after closing date of an acquisition | 1 year |
Loan minimum balance included in the specific reserve analysis | $ | $ 1 |
Tax Credit carry forward period | 20 years |
Federal NMTC Investment [Member] | |
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items] | |
Period of tax credit earning | 7 years |
Low Income Housing Investments [Member] | |
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items] | |
Period of tax credit earning | 10 years |
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 |
Maximum [Member] | State NMTC Investment [Member] | |
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items] | |
Period of tax credit earning | 5 years |
Minimum [Member] | State NMTC Investment [Member] | |
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items] | |
Period of tax credit earning | 3 years |
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 | 10 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 |
Core Systems [Member] | |
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items] | |
Amortization expense charged off period | 7 years |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Available for Sale Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | $ 2,086,745 | $ 1,631,761 |
Securities available for sale, Gross Unrealized Gains | 20,120 | 32,543 |
Securities available for sale, Gross Unrealized Losses | 13,461 | 4,139 |
Securities Available for Sale, Fair Value | 2,093,404 | 1,660,165 |
U.S. Treasury and Government Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 135 | 300,207 |
Securities available for sale, Gross Unrealized Gains | 372 | |
Securities available for sale, Gross Unrealized Losses | 1 | 71 |
Securities Available for Sale, Fair Value | 134 | 300,508 |
Municipal Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 39,410 | 13,995 |
Securities available for sale, Gross Unrealized Gains | 235 | 186 |
Securities available for sale, Gross Unrealized Losses | 38 | 5 |
Securities Available for Sale, Fair Value | 39,607 | 14,176 |
Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 3,500 | 3,500 |
Securities Available for Sale, Fair Value | 3,500 | 3,500 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 2,447 | 8,673 |
Securities available for sale, Gross Unrealized Gains | 358 | 891 |
Securities available for sale, Gross Unrealized Losses | 48 | 11 |
Securities Available for Sale, Fair Value | 2,757 | 9,553 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 1,750,168 | 1,217,293 |
Securities available for sale, Gross Unrealized Gains | 19,387 | 31,094 |
Securities available for sale, Gross Unrealized Losses | 11,182 | 2,823 |
Securities Available for Sale, Fair Value | 1,758,373 | 1,245,564 |
Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 291,085 | 88,093 |
Securities available for sale, Gross Unrealized Gains | 140 | |
Securities available for sale, Gross Unrealized Losses | 2,192 | 1,229 |
Securities Available for Sale, Fair Value | $ 289,033 | $ 86,864 |
Securities - Amortized Cost a48
Securities - Amortized Cost and Fair Value of Held to Maturity Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities Held to Maturity, Amortized Cost | $ 2,370,388 | $ 2,166,289 |
Securities Held to Maturity, Gross Unrealized Gains | 21,304 | 32,903 |
Securities Held to Maturity, Gross Unrealized Losses | 15,841 | 12,852 |
Securities Held to Maturity, Fair Value | 2,375,851 | 2,186,340 |
U.S. Treasury and Government Agency Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities Held to Maturity, Amortized Cost | 50,000 | |
Securities Held to Maturity, Gross Unrealized Losses | 410 | |
Securities Held to Maturity, Fair Value | 49,590 | |
Municipal Obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities Held to Maturity, Amortized Cost | 185,890 | 180,615 |
Securities Held to Maturity, Gross Unrealized Gains | 3,475 | 3,416 |
Securities Held to Maturity, Gross Unrealized Losses | 1,166 | 1,144 |
Securities Held to Maturity, Fair Value | 188,199 | 182,887 |
Mortgage-Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities Held to Maturity, Amortized Cost | 1,014,135 | 899,923 |
Securities Held to Maturity, Gross Unrealized Gains | 15,585 | 23,897 |
Securities Held to Maturity, Gross Unrealized Losses | 1,589 | 162 |
Securities Held to Maturity, Fair Value | 1,028,131 | 923,658 |
Collateralized Mortgage Obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities Held to Maturity, Amortized Cost | 1,120,363 | 1,085,751 |
Securities Held to Maturity, Gross Unrealized Gains | 2,244 | 5,590 |
Securities Held to Maturity, Gross Unrealized Losses | 12,676 | 11,546 |
Securities Held to Maturity, Fair Value | $ 1,109,931 | $ 1,079,795 |
Securities - Amortized Cost a49
Securities - Amortized Cost and Fair Value of Available for Sale Securities by Final Contractual Maturity (Detail) $ in Thousands | Dec. 31, 2015USD ($) |
Amortized Cost And Estimated Fair Value Of Debt Securities By Contractual Maturity [Abstract] | |
Securities Available for Sale, Due in one year or less, Amortized Cost | $ 42,807 |
Securities Available for Sale, Due after one year through five years, Amortized Cost | 71,342 |
Securities Available for Sale, Due after five years through ten years, Amortized Cost | 322,891 |
Securities Available for Sale, Due after ten years, Amortized Cost | 1,647,258 |
Total available for sale debt securities, Amortized Cost | 2,084,298 |
Securities Available for Sale, Due in one year or less, Fair Value | 41,901 |
Securities Available for Sale, Due after one year through five years, Fair Value | 72,447 |
Securities Available for Sale, Due after five years through ten years, Fair Value | 330,327 |
Securities Available for Sale, Due after ten years, Fair Value | 1,645,972 |
Total available for sale debt securities, Fair Value | $ 2,090,647 |
Securities - Amortized Cost a50
Securities - Amortized Cost and Fair Value of Held to Maturity Securities by Final Contractual Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Amortized Cost And Estimated Fair Value Of Debt Securities By Contractual Maturity [Abstract] | ||
Securities Held to Maturity, Due in one year or less, Amortized Cost | $ 113,296 | |
Securities Held to Maturity, Due after one year through five years, Amortized Cost | 430,315 | |
Securities Held to Maturity, Due after five years through ten years, Amortized Cost | 137,021 | |
Securities Held to Maturity, Due after ten years, Amortized Cost | 1,689,756 | |
Securities Held to Maturity, Amortized Cost | 2,370,388 | $ 2,166,289 |
Securities Held to Maturity, Due in one year or less, Fair Value | 111,710 | |
Securities Held to Maturity, Due after one year through five years, Fair Value | 425,060 | |
Securities Held to Maturity, Due after five years through ten years, Fair Value | 136,244 | |
Securities Held to Maturity, Due after ten years, Fair Value | 1,702,837 | |
Total Held to Maturity Securities, Fair Value | $ 2,375,851 | $ 2,186,340 |
Securities - Available for Sale
Securities - Available for Sale Securities Unrealized Losses (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Unrealized Loss And Fair Value Available For Sale Securities [Line Items] | ||
Available for sale securities, Losses less than 12 months, Fair Value | $ 1,047,869 | $ 147,898 |
Available for sale securities, Losses Less than 12 months, Gross Unrealized Losses | 9,553 | 248 |
Available for sale securities, Losses 12 months or longer, Fair value | 150,819 | 212,629 |
Available for sale securities, Losses 12 months or longer, Gross Unrealized Losses | 3,908 | 3,891 |
Available for sale securities, Total, Fair value | 1,198,688 | 360,527 |
Available for sale securities, Total, Gross Unrealized Losses | 13,461 | 4,139 |
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 | 20 | 5,998 |
Available for sale securities, Losses Less than 12 months, Gross Unrealized Losses | 1 | 10 |
Available for sale securities, Losses 12 months or longer, Fair value | 1,473 | 3 |
Available for sale securities, Losses 12 months or longer, Gross Unrealized Losses | 47 | 1 |
Available for sale securities, Total, Fair value | 1,493 | 6,001 |
Available for sale securities, Total, Gross Unrealized Losses | 48 | 11 |
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 | 99,950 | |
Available for sale securities, Losses Less than 12 months, Gross Unrealized Losses | 70 | |
Available for sale securities, Losses 12 months or longer, Fair value | 82 | 121 |
Available for sale securities, Losses 12 months or longer, Gross Unrealized Losses | 1 | 1 |
Available for sale securities, Total, Fair value | 82 | 100,071 |
Available for sale securities, Total, Gross Unrealized Losses | 1 | 71 |
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 | 8,296 | 2,995 |
Available for sale securities, Losses Less than 12 months, Gross Unrealized Losses | 38 | 5 |
Available for sale securities, Total, Fair value | 8,296 | 2,995 |
Available for sale securities, Total, Gross Unrealized Losses | 38 | 5 |
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 | 831,156 | 38,955 |
Available for sale securities, Losses Less than 12 months, Gross Unrealized Losses | 8,257 | 163 |
Available for sale securities, Losses 12 months or longer, Fair value | 116,126 | 125,641 |
Available for sale securities, Losses 12 months or longer, Gross Unrealized Losses | 2,925 | 2,660 |
Available for sale securities, Total, Fair value | 947,282 | 164,596 |
Available for sale securities, Total, Gross Unrealized Losses | 11,182 | 2,823 |
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 | 208,397 | |
Available for sale securities, Losses Less than 12 months, Gross Unrealized Losses | 1,257 | |
Available for sale securities, Losses 12 months or longer, Fair value | 33,138 | 86,864 |
Available for sale securities, Losses 12 months or longer, Gross Unrealized Losses | 935 | 1,229 |
Available for sale securities, Total, Fair value | 241,535 | 86,864 |
Available for sale securities, Total, Gross Unrealized Losses | $ 2,192 | $ 1,229 |
Securities - Held to Maturity w
Securities - Held to Maturity with Unrealized Losses (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held to maturity securities, Losses less than 12 months, Fair Value | $ 934,207 | $ 123,538 |
Held to maturity securities, Losses Less than 12 months, Gross Unrealized Losses | 5,194 | 628 |
Held to maturity securities, Losses 12 months or longer, Fair value | 419,483 | 694,234 |
Held to maturity securities, Losses 12 months or longer, Gross Unrealized Losses | 10,647 | 12,224 |
Held to maturity securities, Total, Fair value | 1,353,690 | 817,772 |
Held to maturity securities, Total, Gross Unrealized Losses | 15,841 | 12,852 |
Mortgage-Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held to maturity securities, Losses less than 12 months, Fair Value | 349,635 | |
Held to maturity securities, Losses Less than 12 months, Gross Unrealized Losses | 1,589 | |
Held to maturity securities, Losses 12 months or longer, Fair value | 95,522 | |
Held to maturity securities, Losses 12 months or longer, Gross Unrealized Losses | 162 | |
Held to maturity securities, Total, Fair value | 349,635 | 95,522 |
Held to maturity securities, Total, Gross Unrealized Losses | 1,589 | 162 |
Collateralized Mortgage Obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held to maturity securities, Losses less than 12 months, Fair Value | 516,330 | 119,222 |
Held to maturity securities, Losses Less than 12 months, Gross Unrealized Losses | 2,894 | 616 |
Held to maturity securities, Losses 12 months or longer, Fair value | 370,756 | 540,607 |
Held to maturity securities, Losses 12 months or longer, Gross Unrealized Losses | 9,782 | 10,930 |
Held to maturity securities, Total, Fair value | 887,086 | 659,829 |
Held to maturity securities, Total, Gross Unrealized Losses | 12,676 | 11,546 |
Municipal Obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held to maturity securities, Losses less than 12 months, Fair Value | 22,652 | 4,316 |
Held to maturity securities, Losses Less than 12 months, Gross Unrealized Losses | 301 | 12 |
Held to maturity securities, Losses 12 months or longer, Fair value | 48,727 | 58,105 |
Held to maturity securities, Losses 12 months or longer, Gross Unrealized Losses | 865 | 1,132 |
Held to maturity securities, Total, Fair value | 71,379 | 62,421 |
Held to maturity securities, Total, Gross Unrealized Losses | 1,166 | $ 1,144 |
U.S. Treasury and Government Agency Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held to maturity securities, Losses less than 12 months, Fair Value | 45,590 | |
Held to maturity securities, Losses Less than 12 months, Gross Unrealized Losses | 410 | |
Held to maturity securities, Total, Fair value | 45,590 | |
Held to maturity securities, Total, Gross Unrealized Losses | $ 410 |
Securities - Additional Informa
Securities - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Amortized Cost and Fair Value Debt Securities [Abstract] | |||
Proceeds from sales of securities available for sale | $ 6.6 | $ 1.5 | $ 0.2 |
Net carrying amount of securities held to maturity | 2.6 | ||
Realized gain on securities held to maturity | 0.2 | ||
Securities pledged to secure public deposits and securities sold under agreements to repurchase | $ 3,500 | $ 3,200 |
Loans - Additional Information
Loans - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2015USD ($)Contract | Dec. 31, 2014USD ($)Contract | |
Non Accrual Loans Segregated By Class Of Loans [Line Items] | ||
Single family loans in FDIC acquired loans covered by loss share agreement | $ 170,100,000 | |
Balances of loans due from related parties | 17,400,000 | $ 16,200,000 |
Changes in new loans | 18,300,000 | |
Repayments in affiliates loans | 16,500,000 | |
Net balance reduction in directors and affiliates loans | (600,000) | |
Nonaccrual loans | 159,713,000 | 79,537,000 |
Troubled debt restructuring both accruing and nonaccruing | 13,100,000 | 16,000,000 |
Minimum bank portfolio loan need to be reviewed | 1,000,000 | |
Loans held for sale | 20,434,000 | 20,252,000 |
Real estate acquired through foreclosure | 26,256,000 | 58,415,000 |
Commercial Non-Real Estate [Member] | ||
Non Accrual Loans Segregated By Class Of Loans [Line Items] | ||
Nonaccrual loans | 88,743,000 | 15,511,000 |
Consumer [Member] | ||
Non Accrual Loans Segregated By Class Of Loans [Line Items] | ||
Nonaccrual loans | 9,061,000 | 5,748,000 |
Mortgage loan in process of foreclosure | 7,400,000 | 13,700,000 |
Real estate acquired through foreclosure | 9,300,000 | 12,700,000 |
Residential Mortgages [Member] | ||
Non Accrual Loans Segregated By Class Of Loans [Line Items] | ||
Nonaccrual loans | $ 23,799,000 | $ 22,094,000 |
Number of TDRs subsequently defaulted | Contract | 0 | 1 |
Recorded investment | $ 300,000 | |
Loans Modified In Troubled Debt Restructure [Member] | ||
Non Accrual Loans Segregated By Class Of Loans [Line Items] | ||
Nonaccrual loans | $ 8,800,000 | 7,000,000 |
Originated Loans [Member] | ||
Non Accrual Loans Segregated By Class Of Loans [Line Items] | ||
Nonaccrual loans | 156,721,000 | 71,296,000 |
Originated Loans [Member] | Commercial Non-Real Estate [Member] | ||
Non Accrual Loans Segregated By Class Of Loans [Line Items] | ||
Nonaccrual loans | 88,743,000 | $ 15,511,000 |
Number of TDRs subsequently defaulted | Contract | 1 | |
Recorded investment | $ 900,000 | |
Originated Loans [Member] | Consumer [Member] | ||
Non Accrual Loans Segregated By Class Of Loans [Line Items] | ||
Nonaccrual loans | 9,061,000 | 5,574,000 |
Originated Loans [Member] | Residential Mortgages [Member] | ||
Non Accrual Loans Segregated By Class Of Loans [Line Items] | ||
Nonaccrual loans | 23,799,000 | 21,702,000 |
FDIC Acquired Loans [Member] | ||
Non Accrual Loans Segregated By Class Of Loans [Line Items] | ||
Nonaccrual loans | 2,102,000 | |
FDIC Acquired Loans [Member] | Consumer [Member] | ||
Non Accrual Loans Segregated By Class Of Loans [Line Items] | ||
Nonaccrual loans | 174,000 | |
Mortgage loan in process of foreclosure | 4,100,000 | 8,100,000 |
Real estate acquired through foreclosure | $ 1,600,000 | 8,200,000 |
FDIC Acquired Loans [Member] | Residential Mortgages [Member] | ||
Non Accrual Loans Segregated By Class Of Loans [Line Items] | ||
Nonaccrual loans | $ 392,000 | |
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 |
Loans - Loans, Net of Unearned
Loans - Loans, Net of Unearned Income (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Loans Receivable [Line Items] | ||
Total FDIC acquired loans | $ 203,297 | $ 252,409 |
Total loans | 15,703,314 | 13,895,276 |
Commercial Non-Real Estate [Member] | ||
Loans Receivable [Line Items] | ||
Total FDIC acquired loans | 5,528 | 6,195 |
Total loans | 6,995,824 | 6,044,060 |
Construction and Land Development [Member] | ||
Loans Receivable [Line Items] | ||
Total FDIC acquired loans | 7,127 | 11,674 |
Total loans | 1,151,950 | 1,106,761 |
Commercial Real Estate [Member] | ||
Loans Receivable [Line Items] | ||
Total FDIC acquired loans | 15,582 | 27,808 |
Total loans | 3,412,551 | 3,144,048 |
Residential Mortgages [Member] | ||
Loans Receivable [Line Items] | ||
Total FDIC acquired loans | 162,241 | 187,033 |
Total loans | 2,049,524 | 1,894,181 |
Consumer [Member] | ||
Loans Receivable [Line Items] | ||
Total FDIC acquired loans | 12,819 | 19,699 |
Total loans | 2,093,465 | 1,706,226 |
Originated Loans [Member] | ||
Loans Receivable [Line Items] | ||
Total loans | 15,258,587 | 12,810,199 |
Originated Loans [Member] | Commercial Non-Real Estate [Member] | ||
Loans Receivable [Line Items] | ||
Total Commercial non-real estate | 6,930,453 | 5,917,728 |
Originated Loans [Member] | Construction and Land Development [Member] | ||
Loans Receivable [Line Items] | ||
Total Construction and land development | 1,139,743 | 1,073,964 |
Originated Loans [Member] | Commercial Real Estate [Member] | ||
Loans Receivable [Line Items] | ||
Total Commercial real estate | 3,220,509 | 2,428,195 |
Originated Loans [Member] | Residential Mortgages [Member] | ||
Loans Receivable [Line Items] | ||
Total Residential mortgages | 1,887,256 | 1,704,770 |
Originated Loans [Member] | Consumer [Member] | ||
Loans Receivable [Line Items] | ||
Total Consumer | 2,080,626 | 1,685,542 |
Acquired Loans [Member] | ||
Loans Receivable [Line Items] | ||
Total loans | 241,430 | 832,668 |
Acquired Loans [Member] | Commercial Non-Real Estate [Member] | ||
Loans Receivable [Line Items] | ||
Total Commercial non-real estate | 59,843 | 120,137 |
Acquired Loans [Member] | Construction and Land Development [Member] | ||
Loans Receivable [Line Items] | ||
Total Construction and land development | 5,080 | 21,123 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Loans Receivable [Line Items] | ||
Total Commercial real estate | 176,460 | 688,045 |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Loans Receivable [Line Items] | ||
Total Residential mortgages | 27 | 2,378 |
Acquired Loans [Member] | Consumer [Member] | ||
Loans Receivable [Line Items] | ||
Total Consumer | $ 20 | $ 985 |
Loans - Allowance for Loan Loss
Loans - Allowance for Loan Losses by Portfolio Segment and Related Recorded Investment in Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | $ 128,762 | |
Ending balance: FDIC acquired loans | 203,297 | $ 252,409 |
Ending balance: Loans | 15,703,314 | 13,895,276 |
Increase (decrease) in FDIC loss share receivable | (2,800) | (19,084) |
Loans and Leases receivable, Allowance, Ending Balance | 181,179 | 128,762 |
Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 128,762 | 133,626 |
Charge-offs | (34,658) | (39,499) |
Recoveries | 16,837 | 19,879 |
Net provision for loan losses | 73,038 | 33,840 |
Increase (decrease) in FDIC loss share receivable | (2,800) | (19,084) |
Loans and Leases receivable, Allowance, Ending Balance | 181,179 | 128,762 |
Ending balance: Individually evaluated for impairment | 20,988 | 854 |
Ending balance: Collectively evaluated for impairment | 137,071 | 97,324 |
Allowance for Loan Losses [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Amounts related to acquired-impaired loans | 23,120 | 30,584 |
Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 15,703,314 | 13,895,276 |
Ending balance: Individually evaluated for impairment | 113,426 | 29,711 |
Ending balance: Collectively evaluated for impairment | 15,364,050 | 13,551,889 |
Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 225,838 | 313,676 |
Commercial Non-Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 5,528 | 6,195 |
Ending balance: Loans | 6,995,824 | 6,044,060 |
Commercial Non-Real Estate [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 51,169 | 37,017 |
Charge-offs | (8,361) | (7,034) |
Recoveries | 5,046 | 3,532 |
Net provision for loan losses | 61,298 | 19,247 |
Increase (decrease) in FDIC loss share receivable | 276 | (1,593) |
Loans and Leases receivable, Allowance, Ending Balance | 109,428 | 51,169 |
Ending balance: Individually evaluated for impairment | 19,031 | 14 |
Ending balance: Collectively evaluated for impairment | 89,951 | 50,244 |
Commercial Non-Real Estate [Member] | Allowance for Loan Losses [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Amounts related to acquired-impaired loans | 446 | 911 |
Commercial Non-Real Estate [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 6,995,824 | 6,044,060 |
Ending balance: Individually evaluated for impairment | 81,622 | 3,987 |
Ending balance: Collectively evaluated for impairment | 6,902,198 | 6,025,432 |
Commercial Non-Real Estate [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 12,004 | 14,641 |
Construction and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 7,127 | 11,674 |
Ending balance: Loans | 1,151,950 | 1,106,761 |
Construction and Land Development [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 6,421 | 8,845 |
Charge-offs | (2,834) | (4,918) |
Recoveries | 3,089 | 7,138 |
Net provision for loan losses | (1,028) | (215) |
Increase (decrease) in FDIC loss share receivable | (6) | (4,429) |
Loans and Leases receivable, Allowance, Ending Balance | 5,642 | 6,421 |
Ending balance: Individually evaluated for impairment | 392 | 19 |
Ending balance: Collectively evaluated for impairment | 4,593 | 5,394 |
Construction and Land Development [Member] | Allowance for Loan Losses [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Amounts related to acquired-impaired loans | 657 | 1,008 |
Construction and Land Development [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 1,151,950 | 1,106,761 |
Ending balance: Individually evaluated for impairment | 14,226 | 8,250 |
Ending balance: Collectively evaluated for impairment | 1,125,621 | 1,067,156 |
Construction and Land Development [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 12,103 | 31,355 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 15,582 | 27,808 |
Ending balance: Loans | 3,412,551 | 3,144,048 |
Commercial Real Estate [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 21,082 | 31,612 |
Charge-offs | (4,225) | (8,929) |
Recoveries | 3,397 | 3,119 |
Net provision for loan losses | (4,878) | (1,900) |
Increase (decrease) in FDIC loss share receivable | 523 | (2,820) |
Loans and Leases receivable, Allowance, Ending Balance | 15,899 | 21,082 |
Ending balance: Individually evaluated for impairment | 1,405 | 488 |
Ending balance: Collectively evaluated for impairment | 12,687 | 16,533 |
Commercial Real Estate [Member] | Allowance for Loan Losses [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Amounts related to acquired-impaired loans | 1,807 | 4,061 |
Commercial Real Estate [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 3,412,551 | 3,144,048 |
Ending balance: Individually evaluated for impairment | 16,531 | 14,812 |
Ending balance: Collectively evaluated for impairment | 3,369,396 | 3,071,651 |
Commercial Real Estate [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 26,624 | 57,585 |
Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 162,241 | 187,033 |
Ending balance: Loans | 2,049,524 | 1,894,181 |
Residential Mortgages [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 28,660 | 34,881 |
Charge-offs | (2,407) | (3,293) |
Recoveries | 771 | 645 |
Net provision for loan losses | 1,734 | 2,501 |
Increase (decrease) in FDIC loss share receivable | (3,405) | (6,074) |
Loans and Leases receivable, Allowance, Ending Balance | 25,353 | 28,660 |
Ending balance: Individually evaluated for impairment | 127 | 330 |
Ending balance: Collectively evaluated for impairment | 7,563 | 7,721 |
Residential Mortgages [Member] | Allowance for Loan Losses [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Amounts related to acquired-impaired loans | 17,663 | 20,609 |
Residential Mortgages [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 2,049,524 | 1,894,181 |
Ending balance: Individually evaluated for impairment | 895 | 2,656 |
Ending balance: Collectively evaluated for impairment | 1,886,361 | 1,702,114 |
Residential Mortgages [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 162,268 | 189,411 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 12,819 | 19,699 |
Ending balance: Loans | 2,093,465 | 1,706,226 |
Consumer [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 21,430 | 21,271 |
Charge-offs | (16,831) | (15,325) |
Recoveries | 4,534 | 5,445 |
Net provision for loan losses | 15,912 | 14,207 |
Increase (decrease) in FDIC loss share receivable | (188) | (4,168) |
Loans and Leases receivable, Allowance, Ending Balance | 24,857 | 21,430 |
Ending balance: Individually evaluated for impairment | 33 | 3 |
Ending balance: Collectively evaluated for impairment | 22,277 | 17,432 |
Consumer [Member] | Allowance for Loan Losses [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Amounts related to acquired-impaired loans | 2,547 | 3,995 |
Consumer [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 2,093,465 | 1,706,226 |
Ending balance: Individually evaluated for impairment | 152 | 6 |
Ending balance: Collectively evaluated for impairment | 2,080,474 | 1,685,536 |
Consumer [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 12,839 | 20,684 |
FDIC Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 203,297 | 252,409 |
FDIC Acquired Loans [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 30,584 | 53,094 |
Charge-offs | (5,495) | (7,997) |
Recoveries | 3,886 | 5,496 |
Net provision for loan losses | (3,055) | (925) |
Increase (decrease) in FDIC loss share receivable | (2,800) | (19,084) |
Loans and Leases receivable, Allowance, Ending Balance | 23,120 | 30,584 |
FDIC Acquired Loans [Member] | Allowance for Loan Losses [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Amounts related to acquired-impaired loans | 23,120 | 30,584 |
FDIC Acquired Loans [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 203,297 | 252,409 |
FDIC Acquired Loans [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 203,297 | 252,409 |
FDIC Acquired Loans [Member] | Commercial Non-Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 5,528 | 6,195 |
FDIC Acquired Loans [Member] | Commercial Non-Real Estate [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 911 | 2,323 |
Charge-offs | (1,427) | (221) |
Recoveries | 1,704 | 485 |
Net provision for loan losses | (1,018) | (83) |
Increase (decrease) in FDIC loss share receivable | 276 | (1,593) |
Loans and Leases receivable, Allowance, Ending Balance | 446 | 911 |
FDIC Acquired Loans [Member] | Commercial Non-Real Estate [Member] | Allowance for Loan Losses [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Amounts related to acquired-impaired loans | 446 | 911 |
FDIC Acquired Loans [Member] | Commercial Non-Real Estate [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 5,528 | 6,195 |
FDIC Acquired Loans [Member] | Commercial Non-Real Estate [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 5,528 | 6,195 |
FDIC Acquired Loans [Member] | Construction and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 7,127 | 11,674 |
FDIC Acquired Loans [Member] | Construction and Land Development [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 1,008 | 2,655 |
Charge-offs | (410) | (148) |
Recoveries | 910 | 3,138 |
Net provision for loan losses | (845) | (208) |
Increase (decrease) in FDIC loss share receivable | (6) | (4,429) |
Loans and Leases receivable, Allowance, Ending Balance | 657 | 1,008 |
FDIC Acquired Loans [Member] | Construction and Land Development [Member] | Allowance for Loan Losses [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Amounts related to acquired-impaired loans | 657 | 1,008 |
FDIC Acquired Loans [Member] | Construction and Land Development [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 7,127 | 11,674 |
FDIC Acquired Loans [Member] | Construction and Land Development [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 7,127 | 11,674 |
FDIC Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 15,582 | 27,808 |
FDIC Acquired Loans [Member] | Commercial Real Estate [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 4,061 | 10,929 |
Charge-offs | (2,743) | (5,350) |
Recoveries | 992 | 1,441 |
Net provision for loan losses | (1,026) | (139) |
Increase (decrease) in FDIC loss share receivable | 523 | (2,820) |
Loans and Leases receivable, Allowance, Ending Balance | 1,807 | 4,061 |
FDIC Acquired Loans [Member] | Commercial Real Estate [Member] | Allowance for Loan Losses [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Amounts related to acquired-impaired loans | 1,807 | 4,061 |
FDIC Acquired Loans [Member] | Commercial Real Estate [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 15,582 | 27,808 |
FDIC Acquired Loans [Member] | Commercial Real Estate [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 15,582 | 27,808 |
FDIC Acquired Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 162,241 | 187,033 |
FDIC Acquired Loans [Member] | Residential Mortgages [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 20,609 | 27,989 |
Charge-offs | (772) | (1,008) |
Recoveries | 84 | 1 |
Net provision for loan losses | 1,147 | (299) |
Increase (decrease) in FDIC loss share receivable | (3,405) | (6,074) |
Loans and Leases receivable, Allowance, Ending Balance | 17,663 | 20,609 |
FDIC Acquired Loans [Member] | Residential Mortgages [Member] | Allowance for Loan Losses [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Amounts related to acquired-impaired loans | 17,663 | 20,609 |
FDIC Acquired Loans [Member] | Residential Mortgages [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 162,241 | 187,033 |
FDIC Acquired Loans [Member] | Residential Mortgages [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 162,241 | 187,033 |
FDIC Acquired Loans [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 12,819 | 19,699 |
FDIC Acquired Loans [Member] | Consumer [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 3,995 | 9,198 |
Charge-offs | (143) | (1,270) |
Recoveries | 196 | 431 |
Net provision for loan losses | (1,313) | (196) |
Increase (decrease) in FDIC loss share receivable | (188) | (4,168) |
Loans and Leases receivable, Allowance, Ending Balance | 2,547 | 3,995 |
FDIC Acquired Loans [Member] | Consumer [Member] | Allowance for Loan Losses [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Amounts related to acquired-impaired loans | 2,547 | 3,995 |
FDIC Acquired Loans [Member] | Consumer [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: FDIC acquired loans | 12,819 | 19,699 |
FDIC Acquired Loans [Member] | Consumer [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 12,819 | 19,699 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 241,430 | 832,668 |
Acquired Loans [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 477 | 1,647 |
Net provision for loan losses | (444) | (1,170) |
Loans and Leases receivable, Allowance, Ending Balance | 33 | 477 |
Ending balance: Individually evaluated for impairment | 33 | 477 |
Acquired Loans [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 241,430 | 832,668 |
Ending balance: Individually evaluated for impairment | 2,340 | 2,691 |
Ending balance: Collectively evaluated for impairment | 216,549 | 768,710 |
Acquired Loans [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 22,541 | 61,267 |
Acquired Loans [Member] | Commercial Non-Real Estate [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 1,603 | |
Net provision for loan losses | (1,603) | |
Acquired Loans [Member] | Commercial Non-Real Estate [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 59,843 | 120,137 |
Ending balance: Collectively evaluated for impairment | 53,367 | 111,691 |
Acquired Loans [Member] | Commercial Non-Real Estate [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 6,476 | 8,446 |
Acquired Loans [Member] | Construction and Land Development [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 10 | |
Net provision for loan losses | (10) | |
Acquired Loans [Member] | Construction and Land Development [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 5,080 | 21,123 |
Ending balance: Collectively evaluated for impairment | 104 | 1,442 |
Acquired Loans [Member] | Construction and Land Development [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 4,976 | 19,681 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 477 | 34 |
Net provision for loan losses | (444) | 443 |
Loans and Leases receivable, Allowance, Ending Balance | 33 | 477 |
Ending balance: Individually evaluated for impairment | 33 | 477 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 176,460 | 688,045 |
Ending balance: Individually evaluated for impairment | 2,340 | 2,691 |
Ending balance: Collectively evaluated for impairment | 163,078 | 655,577 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 11,042 | 29,777 |
Acquired Loans [Member] | Residential Mortgages [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 27 | 2,378 |
Acquired Loans [Member] | Residential Mortgages [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 27 | 2,378 |
Acquired Loans [Member] | Consumer [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 20 | 985 |
Acquired Loans [Member] | Consumer [Member] | Loans [Member] | Acquired-Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Acquired-impaired loans | 20 | 985 |
Originated Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 15,258,587 | 12,810,199 |
Originated Loans [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 97,701 | 78,885 |
Charge-offs | (29,163) | (31,502) |
Recoveries | 12,951 | 14,383 |
Net provision for loan losses | 76,537 | 35,935 |
Loans and Leases receivable, Allowance, Ending Balance | 158,026 | 97,701 |
Ending balance: Individually evaluated for impairment | 20,955 | 377 |
Ending balance: Collectively evaluated for impairment | 137,071 | 97,324 |
Originated Loans [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 15,258,587 | 12,810,199 |
Ending balance: Individually evaluated for impairment | 111,086 | 27,020 |
Ending balance: Collectively evaluated for impairment | 15,147,501 | 12,783,179 |
Originated Loans [Member] | Commercial Non-Real Estate [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 50,258 | 33,091 |
Charge-offs | (6,934) | (6,813) |
Recoveries | 3,342 | 3,047 |
Net provision for loan losses | 62,316 | 20,933 |
Loans and Leases receivable, Allowance, Ending Balance | 108,982 | 50,258 |
Ending balance: Individually evaluated for impairment | 19,031 | 14 |
Ending balance: Collectively evaluated for impairment | 89,951 | 50,244 |
Originated Loans [Member] | Commercial Non-Real Estate [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 6,930,453 | 5,917,728 |
Ending balance: Individually evaluated for impairment | 81,622 | 3,987 |
Ending balance: Collectively evaluated for impairment | 6,848,831 | 5,913,741 |
Originated Loans [Member] | Construction and Land Development [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 5,413 | 6,180 |
Charge-offs | (2,424) | (4,770) |
Recoveries | 2,179 | 4,000 |
Net provision for loan losses | (183) | 3 |
Loans and Leases receivable, Allowance, Ending Balance | 4,985 | 5,413 |
Ending balance: Individually evaluated for impairment | 392 | 19 |
Ending balance: Collectively evaluated for impairment | 4,593 | 5,394 |
Originated Loans [Member] | Construction and Land Development [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 1,139,743 | 1,073,964 |
Ending balance: Individually evaluated for impairment | 14,226 | 8,250 |
Ending balance: Collectively evaluated for impairment | 1,125,517 | 1,065,714 |
Originated Loans [Member] | Commercial Real Estate [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 16,544 | 20,649 |
Charge-offs | (1,482) | (3,579) |
Recoveries | 2,405 | 1,678 |
Net provision for loan losses | (3,408) | (2,204) |
Loans and Leases receivable, Allowance, Ending Balance | 14,059 | 16,544 |
Ending balance: Individually evaluated for impairment | 1,372 | 11 |
Ending balance: Collectively evaluated for impairment | 12,687 | 16,533 |
Originated Loans [Member] | Commercial Real Estate [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 3,220,509 | 2,428,195 |
Ending balance: Individually evaluated for impairment | 14,191 | 12,121 |
Ending balance: Collectively evaluated for impairment | 3,206,318 | 2,416,074 |
Originated Loans [Member] | Residential Mortgages [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 8,051 | 6,892 |
Charge-offs | (1,635) | (2,285) |
Recoveries | 687 | 644 |
Net provision for loan losses | 587 | 2,800 |
Loans and Leases receivable, Allowance, Ending Balance | 7,690 | 8,051 |
Ending balance: Individually evaluated for impairment | 127 | 330 |
Ending balance: Collectively evaluated for impairment | 7,563 | 7,721 |
Originated Loans [Member] | Residential Mortgages [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 1,887,256 | 1,704,770 |
Ending balance: Individually evaluated for impairment | 895 | 2,656 |
Ending balance: Collectively evaluated for impairment | 1,886,361 | 1,702,114 |
Originated Loans [Member] | Consumer [Member] | Allowance for Loan Losses [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable, Allowance, Beginning Balance | 17,435 | 12,073 |
Charge-offs | (16,688) | (14,055) |
Recoveries | 4,338 | 5,014 |
Net provision for loan losses | 17,225 | 14,403 |
Loans and Leases receivable, Allowance, Ending Balance | 22,310 | 17,435 |
Ending balance: Individually evaluated for impairment | 33 | 3 |
Ending balance: Collectively evaluated for impairment | 22,277 | 17,432 |
Originated Loans [Member] | Consumer [Member] | Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance: Loans | 2,080,626 | 1,685,542 |
Ending balance: Individually evaluated for impairment | 152 | 6 |
Ending balance: Collectively evaluated for impairment | $ 2,080,474 | $ 1,685,536 |
Loans - Schedule of Activity in
Loans - Schedule of Activity in Loss Share Receivable (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Receivables [Abstract] | |||
Beginning balance | $ 60,272 | $ 113,834 | |
Amortization | (5,747) | (12,102) | $ (2,239) |
Charge-offs, write-downs and other (recoveries) losses | (8,072) | (2,245) | |
External expenses qualifying under loss share agreement | 2,677 | 4,532 | |
Changes due to changes in cash flow projections | (2,800) | (19,084) | |
FDIC resolution of denied claims | (2,411) | (10,268) | |
Net payments from FDIC | (14,051) | (14,395) | |
Ending balance | $ 29,868 | $ 60,272 | $ 113,834 |
Loans - Summary of Composition
Loans - Summary of Composition of Non-Accrual Loans by Portfolio Segment (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | $ 159,713 | $ 79,537 |
Commercial Non-Real Estate [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 88,743 | 15,511 |
Construction and Land Development [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 17,294 | 7,565 |
Commercial Real Estate [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 20,816 | 28,619 |
Residential Mortgages [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 23,799 | 22,094 |
Consumer [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 9,061 | 5,748 |
Originated Loans [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 156,721 | 71,296 |
Originated Loans [Member] | Commercial Non-Real Estate [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 88,743 | 15,511 |
Originated Loans [Member] | Construction and Land Development [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 17,294 | 6,462 |
Originated Loans [Member] | Commercial Real Estate [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 17,824 | 22,047 |
Originated Loans [Member] | Residential Mortgages [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 23,799 | 21,702 |
Originated Loans [Member] | Consumer [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 9,061 | 5,574 |
Acquired Loans [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 2,992 | 6,139 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | $ 2,992 | 6,139 |
FDIC Acquired Loans [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 2,102 | |
FDIC Acquired Loans [Member] | Construction and Land Development [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 1,103 | |
FDIC Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 433 | |
FDIC Acquired Loans [Member] | Residential Mortgages [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | 392 | |
FDIC Acquired Loans [Member] | Consumer [Member] | ||
Nonaccrual Loans By Portfolio [Line Items] | ||
Nonaccrual loans | $ 174 |
Loans - Schedule of Troubled De
Loans - Schedule of Troubled Debt Restructurings Occurred During Period by Portfolio Segment (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015USD ($)Contract | Dec. 31, 2014USD ($)Contract | |
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||
Number of Contracts | Contract | 7 | 12 |
Pre-Modification Outstanding Recorded Investment | $ 5,120 | $ 6,486 |
Post-Modification Outstanding Recorded Investment | $ 5,107 | $ 5,573 |
Originated Loans [Member] | ||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||
Number of Contracts | Contract | 7 | 12 |
Pre-Modification Outstanding Recorded Investment | $ 5,120 | $ 6,486 |
Post-Modification Outstanding Recorded Investment | $ 5,107 | $ 5,573 |
Commercial Non-Real Estate [Member] | ||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||
Number of Contracts | Contract | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 4,420 | $ 29 |
Post-Modification Outstanding Recorded Investment | $ 4,420 | $ 29 |
Commercial Non-Real Estate [Member] | Originated Loans [Member] | ||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||
Number of Contracts | Contract | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 4,420 | $ 29 |
Post-Modification Outstanding Recorded Investment | $ 4,420 | $ 29 |
Commercial Real Estate [Member] | ||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||
Number of Contracts | Contract | 1 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 485 | $ 4,488 |
Post-Modification Outstanding Recorded Investment | $ 482 | $ 4,446 |
Commercial Real Estate [Member] | Originated Loans [Member] | ||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||
Number of Contracts | Contract | 1 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 485 | $ 4,488 |
Post-Modification Outstanding Recorded Investment | $ 482 | $ 4,446 |
Residential Mortgages [Member] | ||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||
Number of Contracts | Contract | 4 | 7 |
Pre-Modification Outstanding Recorded Investment | $ 195 | $ 1,961 |
Post-Modification Outstanding Recorded Investment | $ 185 | $ 1,090 |
Residential Mortgages [Member] | Originated Loans [Member] | ||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||
Number of Contracts | Contract | 4 | 7 |
Pre-Modification Outstanding Recorded Investment | $ 195 | $ 1,961 |
Post-Modification Outstanding Recorded Investment | $ 185 | $ 1,090 |
Consumer [Member] | ||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||
Number of Contracts | Contract | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 20 | $ 8 |
Post-Modification Outstanding Recorded Investment | $ 20 | $ 8 |
Consumer [Member] | Originated Loans [Member] | ||
Troubled Debt Restructuring, Debtor, Current Period [Line Items] | ||
Number of Contracts | Contract | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 20 | $ 8 |
Post-Modification Outstanding Recorded Investment | $ 20 | $ 8 |
Loans - Summary of Impaired Loa
Loans - Summary of Impaired Loans Disaggregated by Class (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded Investment, With no related allowance recorded | $ 55,034 | $ 14,815 |
Recorded Investment, With a related allowance recorded | 58,392 | 14,896 |
Recorded Investment, Total | 113,426 | 29,711 |
Unpaid Principal Balance, With no related allowance recorded | 58,245 | 20,707 |
Unpaid Principal Balance, With a related allowance recorded | 60,378 | 15,581 |
Unpaid Principal Balance, Total | 118,623 | 36,288 |
Related Allowance, With no related allowance recorded | 0 | 0 |
Related Allowance, With a related allowance recorded | 20,988 | 854 |
Related Allowance, Total | 20,988 | 854 |
Average Recorded Investment, With no related allowance recorded | 32,585 | 13,965 |
Average Recorded Investment, With a related allowance recorded | 41,599 | 25,340 |
Average Recorded Investment, Total | 74,184 | 39,305 |
Interest Income Recognized, With no related allowance recorded | 37 | 527 |
Interest Income Recognized, With a related allowance recorded | 205 | 648 |
Interest Income Recognized, Total | 242 | 1,175 |
Commercial Non-Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded Investment, With no related allowance recorded | 34,788 | 3,003 |
Recorded Investment, With a related allowance recorded | 46,834 | 984 |
Recorded Investment, Total | 81,622 | 3,987 |
Unpaid Principal Balance, With no related allowance recorded | 37,285 | 3,646 |
Unpaid Principal Balance, With a related allowance recorded | 47,703 | 984 |
Unpaid Principal Balance, Total | 84,988 | 4,630 |
Related Allowance, With no related allowance recorded | 0 | 0 |
Related Allowance, With a related allowance recorded | 19,031 | 14 |
Related Allowance, Total | 19,031 | 14 |
Average Recorded Investment, With no related allowance recorded | 18,860 | 1,566 |
Average Recorded Investment, With a related allowance recorded | 22,414 | 6,581 |
Average Recorded Investment, Total | 41,274 | 8,147 |
Interest Income Recognized, With no related allowance recorded | 51 | |
Interest Income Recognized, With a related allowance recorded | 11 | 221 |
Interest Income Recognized, Total | 11 | 272 |
Construction and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded Investment, With no related allowance recorded | 12,461 | 3,345 |
Recorded Investment, With a related allowance recorded | 1,765 | 4,905 |
Recorded Investment, Total | 14,226 | 8,250 |
Unpaid Principal Balance, With no related allowance recorded | 12,461 | 6,486 |
Unpaid Principal Balance, With a related allowance recorded | 2,323 | 4,906 |
Unpaid Principal Balance, Total | 14,784 | 11,392 |
Related Allowance, With no related allowance recorded | 0 | 0 |
Related Allowance, With a related allowance recorded | 392 | 19 |
Related Allowance, Total | 392 | 19 |
Average Recorded Investment, With no related allowance recorded | 2,459 | 3,451 |
Average Recorded Investment, With a related allowance recorded | 3,049 | 7,697 |
Average Recorded Investment, Total | 5,508 | 11,148 |
Interest Income Recognized, With no related allowance recorded | 142 | |
Interest Income Recognized, With a related allowance recorded | 66 | 193 |
Interest Income Recognized, Total | 66 | 335 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded Investment, With no related allowance recorded | 7,785 | 8,467 |
Recorded Investment, With a related allowance recorded | 8,746 | 6,345 |
Recorded Investment, Total | 16,531 | 14,812 |
Unpaid Principal Balance, With no related allowance recorded | 8,499 | 10,575 |
Unpaid Principal Balance, With a related allowance recorded | 8,795 | 6,374 |
Unpaid Principal Balance, Total | 17,294 | 16,949 |
Related Allowance, With no related allowance recorded | 0 | 0 |
Related Allowance, With a related allowance recorded | 1,405 | 488 |
Related Allowance, Total | 1,405 | 488 |
Average Recorded Investment, With no related allowance recorded | 10,933 | 8,772 |
Average Recorded Investment, With a related allowance recorded | 14,732 | 8,857 |
Average Recorded Investment, Total | 25,665 | 17,629 |
Interest Income Recognized, With no related allowance recorded | 35 | 331 |
Interest Income Recognized, With a related allowance recorded | 104 | 184 |
Interest Income Recognized, Total | 139 | 515 |
Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded Investment, With a related allowance recorded | 895 | 2,656 |
Recorded Investment, Total | 895 | 2,656 |
Unpaid Principal Balance, With a related allowance recorded | 1,405 | 3,311 |
Unpaid Principal Balance, Total | 1,405 | 3,311 |
Related Allowance, With no related allowance recorded | 0 | 0 |
Related Allowance, With a related allowance recorded | 127 | 330 |
Related Allowance, Total | 127 | 330 |
Average Recorded Investment, With no related allowance recorded | 259 | 176 |
Average Recorded Investment, With a related allowance recorded | 1,359 | 2,204 |
Average Recorded Investment, Total | 1,618 | 2,380 |
Interest Income Recognized, With no related allowance recorded | 2 | 3 |
Interest Income Recognized, With a related allowance recorded | 20 | 50 |
Interest Income Recognized, Total | 22 | 53 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded Investment, With a related allowance recorded | 152 | 6 |
Recorded Investment, Total | 152 | 6 |
Unpaid Principal Balance, With a related allowance recorded | 152 | 6 |
Unpaid Principal Balance, Total | 152 | 6 |
Related Allowance, With no related allowance recorded | 0 | 0 |
Related Allowance, With a related allowance recorded | 33 | 3 |
Related Allowance, Total | 33 | 3 |
Average Recorded Investment, With no related allowance recorded | 74 | |
Average Recorded Investment, With a related allowance recorded | 45 | 1 |
Average Recorded Investment, Total | 119 | 1 |
Interest Income Recognized, With a related allowance recorded | 4 | |
Interest Income Recognized, Total | 4 | |
Originated Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded Investment, With no related allowance recorded | 55,034 | 14,815 |
Recorded Investment, With a related allowance recorded | 56,052 | 12,205 |
Recorded Investment, Total | 111,086 | 27,020 |
Unpaid Principal Balance, With no related allowance recorded | 58,245 | 20,707 |
Unpaid Principal Balance, With a related allowance recorded | 57,996 | 12,861 |
Unpaid Principal Balance, Total | 116,241 | 33,568 |
Related Allowance, With no related allowance recorded | 0 | 0 |
Related Allowance, With a related allowance recorded | 20,955 | 377 |
Related Allowance, Total | 20,955 | 377 |
Average Recorded Investment, With no related allowance recorded | 32,585 | 13,088 |
Average Recorded Investment, With a related allowance recorded | 39,355 | 21,887 |
Average Recorded Investment, Total | 71,940 | 34,976 |
Interest Income Recognized, With no related allowance recorded | 37 | 527 |
Interest Income Recognized, With a related allowance recorded | 205 | 395 |
Interest Income Recognized, Total | 242 | 921 |
Originated Loans [Member] | Commercial Non-Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded Investment, With no related allowance recorded | 34,788 | 3,003 |
Recorded Investment, With a related allowance recorded | 46,834 | 984 |
Recorded Investment, Total | 81,622 | 3,987 |
Unpaid Principal Balance, With no related allowance recorded | 37,285 | 3,646 |
Unpaid Principal Balance, With a related allowance recorded | 47,703 | 984 |
Unpaid Principal Balance, Total | 84,988 | 4,630 |
Related Allowance, With no related allowance recorded | 0 | 0 |
Related Allowance, With a related allowance recorded | 19,031 | 14 |
Related Allowance, Total | 19,031 | 14 |
Average Recorded Investment, With no related allowance recorded | 18,860 | 1,209 |
Average Recorded Investment, With a related allowance recorded | 22,414 | 5,522 |
Average Recorded Investment, Total | 41,274 | 6,732 |
Interest Income Recognized, With no related allowance recorded | 51 | |
Interest Income Recognized, With a related allowance recorded | 11 | 99 |
Interest Income Recognized, Total | 11 | 150 |
Originated Loans [Member] | Construction and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded Investment, With no related allowance recorded | 12,461 | 3,345 |
Recorded Investment, With a related allowance recorded | 1,765 | 4,905 |
Recorded Investment, Total | 14,226 | 8,250 |
Unpaid Principal Balance, With no related allowance recorded | 12,461 | 6,486 |
Unpaid Principal Balance, With a related allowance recorded | 2,323 | 4,906 |
Unpaid Principal Balance, Total | 14,784 | 11,392 |
Related Allowance, With no related allowance recorded | 0 | 0 |
Related Allowance, With a related allowance recorded | 392 | 19 |
Related Allowance, Total | 392 | 19 |
Average Recorded Investment, With no related allowance recorded | 2,459 | 3,330 |
Average Recorded Investment, With a related allowance recorded | 3,049 | 6,660 |
Average Recorded Investment, Total | 5,508 | 9,990 |
Interest Income Recognized, With no related allowance recorded | 142 | |
Interest Income Recognized, With a related allowance recorded | 66 | 137 |
Interest Income Recognized, Total | 66 | 279 |
Originated Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded Investment, With no related allowance recorded | 7,785 | 8,467 |
Recorded Investment, With a related allowance recorded | 6,406 | 3,654 |
Recorded Investment, Total | 14,191 | 12,121 |
Unpaid Principal Balance, With no related allowance recorded | 8,499 | 10,575 |
Unpaid Principal Balance, With a related allowance recorded | 6,413 | 3,654 |
Unpaid Principal Balance, Total | 14,912 | 14,229 |
Related Allowance, With no related allowance recorded | 0 | 0 |
Related Allowance, With a related allowance recorded | 1,372 | 11 |
Related Allowance, Total | 1,372 | 11 |
Average Recorded Investment, With no related allowance recorded | 10,933 | 8,461 |
Average Recorded Investment, With a related allowance recorded | 12,488 | 7,500 |
Average Recorded Investment, Total | 23,421 | 15,961 |
Interest Income Recognized, With no related allowance recorded | 35 | 331 |
Interest Income Recognized, With a related allowance recorded | 104 | 109 |
Interest Income Recognized, Total | 139 | 439 |
Originated Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded Investment, With a related allowance recorded | 895 | 2,656 |
Recorded Investment, Total | 895 | 2,656 |
Unpaid Principal Balance, With a related allowance recorded | 1,405 | 3,311 |
Unpaid Principal Balance, Total | 1,405 | 3,311 |
Related Allowance, With no related allowance recorded | 0 | 0 |
Related Allowance, With a related allowance recorded | 127 | 330 |
Related Allowance, Total | 127 | 330 |
Average Recorded Investment, With no related allowance recorded | 259 | 88 |
Average Recorded Investment, With a related allowance recorded | 1,359 | 2,204 |
Average Recorded Investment, Total | 1,618 | 2,292 |
Interest Income Recognized, With no related allowance recorded | 2 | 3 |
Interest Income Recognized, With a related allowance recorded | 20 | 50 |
Interest Income Recognized, Total | 22 | 53 |
Originated Loans [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded Investment, With a related allowance recorded | 152 | 6 |
Recorded Investment, Total | 152 | 6 |
Unpaid Principal Balance, With a related allowance recorded | 152 | 6 |
Unpaid Principal Balance, Total | 152 | 6 |
Related Allowance, With no related allowance recorded | 0 | 0 |
Related Allowance, With a related allowance recorded | 33 | 3 |
Related Allowance, Total | 33 | 3 |
Average Recorded Investment, With no related allowance recorded | 74 | |
Average Recorded Investment, With a related allowance recorded | 45 | 1 |
Average Recorded Investment, Total | 119 | 1 |
Interest Income Recognized, With a related allowance recorded | 4 | |
Interest Income Recognized, Total | 4 | |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded Investment, With a related allowance recorded | 2,340 | 2,691 |
Recorded Investment, Total | 2,340 | 2,691 |
Unpaid Principal Balance, With a related allowance recorded | 2,382 | 2,720 |
Unpaid Principal Balance, Total | 2,382 | 2,720 |
Related Allowance, With no related allowance recorded | 0 | |
Related Allowance, With a related allowance recorded | 33 | 477 |
Related Allowance, Total | 33 | 477 |
Average Recorded Investment, With no related allowance recorded | 877 | |
Average Recorded Investment, With a related allowance recorded | 2,244 | 3,453 |
Average Recorded Investment, Total | 2,244 | 4,330 |
Interest Income Recognized, With a related allowance recorded | 253 | |
Interest Income Recognized, Total | 253 | |
Acquired Loans [Member] | Commercial Non-Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Related Allowance, With no related allowance recorded | 0 | |
Average Recorded Investment, With no related allowance recorded | 357 | |
Average Recorded Investment, With a related allowance recorded | 1,059 | |
Average Recorded Investment, Total | 1,416 | |
Interest Income Recognized, With a related allowance recorded | 122 | |
Interest Income Recognized, Total | 122 | |
Acquired Loans [Member] | Construction and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Related Allowance, With no related allowance recorded | 0 | |
Average Recorded Investment, With no related allowance recorded | 121 | |
Average Recorded Investment, With a related allowance recorded | 1,037 | |
Average Recorded Investment, Total | 1,158 | |
Interest Income Recognized, With a related allowance recorded | 56 | |
Interest Income Recognized, Total | 56 | |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded Investment, With a related allowance recorded | 2,340 | 2,691 |
Recorded Investment, Total | 2,340 | 2,691 |
Unpaid Principal Balance, With a related allowance recorded | 2,382 | 2,720 |
Unpaid Principal Balance, Total | 2,382 | 2,720 |
Related Allowance, With no related allowance recorded | 0 | |
Related Allowance, With a related allowance recorded | 33 | 477 |
Related Allowance, Total | 33 | 477 |
Average Recorded Investment, With no related allowance recorded | 311 | |
Average Recorded Investment, With a related allowance recorded | 2,244 | 1,357 |
Average Recorded Investment, Total | $ 2,244 | 1,668 |
Interest Income Recognized, With a related allowance recorded | 75 | |
Interest Income Recognized, Total | 75 | |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Related Allowance, With no related allowance recorded | 0 | |
Average Recorded Investment, With no related allowance recorded | 88 | |
Average Recorded Investment, Total | 88 | |
Acquired Loans [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Related Allowance, With no related allowance recorded | $ 0 |
Loans - Summary of Age Analysis
Loans - Summary of Age Analysis of Past Due Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total FDIC acquired loans | $ 203,297 | $ 252,409 |
Total loans | 15,703,314 | 13,895,276 |
Total past due | 153,691 | 102,136 |
Current | 15,549,623 | 13,793,140 |
Recorded investment > 90 days and accruing | 7,653 | 4,825 |
30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 79,027 | 44,652 |
60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 12,101 | 12,503 |
Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 62,563 | 44,981 |
Commercial Non-Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total FDIC acquired loans | 5,528 | 6,195 |
Total loans | 6,995,824 | 6,044,060 |
Total past due | 43,881 | 14,682 |
Current | 6,951,943 | 6,029,378 |
Recorded investment > 90 days and accruing | 3,060 | 630 |
Commercial Non-Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 17,406 | 4,380 |
Commercial Non-Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 1,468 | 1,742 |
Commercial Non-Real Estate [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 25,007 | 8,560 |
Construction and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total FDIC acquired loans | 7,127 | 11,674 |
Total loans | 1,151,950 | 1,106,761 |
Total past due | 24,365 | 13,819 |
Current | 1,127,585 | 1,092,942 |
Recorded investment > 90 days and accruing | 1,230 | 142 |
Construction and Land Development [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 19,886 | 6,731 |
Construction and Land Development [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 436 | 1,532 |
Construction and Land Development [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 4,043 | 5,556 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total FDIC acquired loans | 15,582 | 27,808 |
Total loans | 3,412,551 | 3,144,048 |
Total past due | 21,202 | 28,892 |
Current | 3,391,349 | 3,115,156 |
Recorded investment > 90 days and accruing | 1,034 | 957 |
Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 6,769 | 10,388 |
Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 1,405 | 3,246 |
Commercial Real Estate [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 13,028 | 15,258 |
Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total FDIC acquired loans | 162,241 | 187,033 |
Total loans | 2,049,524 | 1,894,181 |
Total past due | 34,857 | 29,471 |
Current | 2,014,667 | 1,864,710 |
Recorded investment > 90 days and accruing | 163 | 1,199 |
Residential Mortgages [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 18,657 | 14,730 |
Residential Mortgages [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 4,360 | 3,533 |
Residential Mortgages [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 11,840 | 11,208 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total FDIC acquired loans | 12,819 | 19,699 |
Total loans | 2,093,465 | 1,706,226 |
Total past due | 29,386 | 15,272 |
Current | 2,064,079 | 1,690,954 |
Recorded investment > 90 days and accruing | 2,166 | 1,897 |
Consumer [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 16,309 | 8,423 |
Consumer [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 4,432 | 2,450 |
Consumer [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 8,645 | 4,399 |
Originated Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 15,258,587 | 12,810,199 |
Total past due | 153,075 | 94,448 |
Current | 15,105,512 | 12,715,751 |
Recorded investment > 90 days and accruing | 7,653 | 4,564 |
Originated Loans [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 79,012 | 40,679 |
Originated Loans [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 12,025 | 11,949 |
Originated Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 62,038 | 41,820 |
Originated Loans [Member] | Commercial Non-Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Commercial non-real estate | 6,930,453 | 5,917,728 |
Total past due | 43,881 | 14,682 |
Current | 6,886,572 | 5,903,046 |
Recorded investment > 90 days and accruing | 3,060 | 630 |
Originated Loans [Member] | Commercial Non-Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 17,406 | 4,380 |
Originated Loans [Member] | Commercial Non-Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 1,468 | 1,742 |
Originated Loans [Member] | Commercial Non-Real Estate [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 25,007 | 8,560 |
Originated Loans [Member] | Construction and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Construction and land development | 1,139,743 | 1,073,964 |
Total past due | 24,365 | 12,605 |
Current | 1,115,378 | 1,061,359 |
Recorded investment > 90 days and accruing | 1,230 | 142 |
Originated Loans [Member] | Construction and Land Development [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 19,886 | 6,620 |
Originated Loans [Member] | Construction and Land Development [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 436 | 1,532 |
Originated Loans [Member] | Construction and Land Development [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 4,043 | 4,453 |
Originated Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Commercial real estate | 3,220,509 | 2,428,195 |
Total past due | 20,586 | 22,725 |
Current | 3,199,923 | 2,405,470 |
Recorded investment > 90 days and accruing | 1,034 | 696 |
Originated Loans [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 6,754 | 6,527 |
Originated Loans [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 1,329 | 2,964 |
Originated Loans [Member] | Commercial Real Estate [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 12,503 | 13,234 |
Originated Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Residential mortgages | 1,887,256 | 1,704,770 |
Total past due | 34,857 | 29,199 |
Current | 1,852,399 | 1,675,571 |
Recorded investment > 90 days and accruing | 163 | 1,199 |
Originated Loans [Member] | Residential Mortgages [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 18,657 | 14,730 |
Originated Loans [Member] | Residential Mortgages [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 4,360 | 3,261 |
Originated Loans [Member] | Residential Mortgages [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 11,840 | 11,208 |
Originated Loans [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Consumer | 2,080,626 | 1,685,542 |
Total past due | 29,386 | 15,237 |
Current | 2,051,240 | 1,670,305 |
Recorded investment > 90 days and accruing | 2,166 | 1,897 |
Originated Loans [Member] | Consumer [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 16,309 | 8,422 |
Originated Loans [Member] | Consumer [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 4,432 | 2,450 |
Originated Loans [Member] | Consumer [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 8,645 | 4,365 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 241,430 | 832,668 |
Total past due | 616 | 5,845 |
Current | 240,814 | 826,823 |
Recorded investment > 90 days and accruing | 261 | |
Acquired Loans [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 15 | 3,972 |
Acquired Loans [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 76 | 282 |
Acquired Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 525 | 1,591 |
Acquired Loans [Member] | Commercial Non-Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Commercial non-real estate | 59,843 | 120,137 |
Current | 59,843 | 120,137 |
Acquired Loans [Member] | Construction and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Construction and land development | 5,080 | 21,123 |
Total past due | 111 | |
Current | 5,080 | 21,012 |
Acquired Loans [Member] | Construction and Land Development [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 111 | |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Commercial real estate | 176,460 | 688,045 |
Total past due | 616 | 5,734 |
Current | 175,844 | 682,311 |
Recorded investment > 90 days and accruing | 261 | |
Acquired Loans [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 15 | 3,861 |
Acquired Loans [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 76 | 282 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 525 | 1,591 |
Acquired Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Residential mortgages | 27 | 2,378 |
Current | 27 | 2,378 |
Acquired Loans [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Consumer | 20 | 985 |
Current | 20 | 985 |
FDIC Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total FDIC acquired loans | 203,297 | 252,409 |
Total past due | 1,843 | |
Current | 203,297 | 250,566 |
FDIC Acquired Loans [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 1 | |
FDIC Acquired Loans [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 272 | |
FDIC Acquired Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 1,570 | |
FDIC Acquired Loans [Member] | Commercial Non-Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total FDIC acquired loans | 5,528 | 6,195 |
Current | 5,528 | 6,195 |
FDIC Acquired Loans [Member] | Construction and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total FDIC acquired loans | 7,127 | 11,674 |
Total past due | 1,103 | |
Current | 7,127 | 10,571 |
FDIC Acquired Loans [Member] | Construction and Land Development [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 1,103 | |
FDIC Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total FDIC acquired loans | 15,582 | 27,808 |
Total past due | 433 | |
Current | 15,582 | 27,375 |
FDIC Acquired Loans [Member] | Commercial Real Estate [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 433 | |
FDIC Acquired Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total FDIC acquired loans | 162,241 | 187,033 |
Total past due | 272 | |
Current | 162,241 | 186,761 |
FDIC Acquired Loans [Member] | Residential Mortgages [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 272 | |
FDIC Acquired Loans [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total FDIC acquired loans | 12,819 | 19,699 |
Total past due | 35 | |
Current | $ 12,819 | 19,664 |
FDIC Acquired Loans [Member] | Consumer [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | 1 | |
FDIC Acquired Loans [Member] | Consumer [Member] | Greater Than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total past due | $ 34 |
Loans - Schedule of Credit Qual
Loans - Schedule of Credit Quality Indicators of Various Classes of Loans - Credit Risk Profile by Internally Assigned Grade (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Construction Credit Exposure [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | $ 1,151,950 | $ 1,106,761 |
Construction Credit Exposure [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 1,095,296 | 1,028,973 |
Construction Credit Exposure [Member] | Pass-Watch [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 6,841 | 22,480 |
Construction Credit Exposure [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 12,297 | 7,545 |
Construction Credit Exposure [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 37,516 | 47,763 |
Commercial Non Real Estate Credit Exposure [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 6,995,824 | 6,044,060 |
Commercial Non Real Estate Credit Exposure [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 6,260,863 | 5,691,701 |
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 | 168,589 | 176,577 |
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 | 211,230 | 53,312 |
Commercial Non Real Estate Credit Exposure [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 355,098 | 122,395 |
Commercial Non Real Estate Credit Exposure [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 44 | 75 |
Commercial Real Estate Credit Exposure [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 3,412,551 | 3,144,048 |
Commercial Real Estate Credit Exposure [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 3,221,209 | 2,887,496 |
Commercial Real Estate Credit Exposure [Member] | Pass-Watch [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 46,481 | 77,278 |
Commercial Real Estate Credit Exposure [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 47,052 | 30,975 |
Commercial Real Estate Credit Exposure [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 97,793 | 148,278 |
Commercial Real Estate Credit Exposure [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 16 | 21 |
Originated Loans [Member] | Construction Credit Exposure [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 1,139,743 | 1,073,964 |
Originated Loans [Member] | Construction Credit Exposure [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 1,092,299 | 1,012,128 |
Originated Loans [Member] | Construction Credit Exposure [Member] | Pass-Watch [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 5,709 | 21,516 |
Originated Loans [Member] | Construction Credit Exposure [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 12,017 | 7,097 |
Originated Loans [Member] | Construction Credit Exposure [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 29,718 | 33,223 |
Originated Loans [Member] | Commercial Non Real Estate Credit Exposure [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 6,930,453 | 5,917,728 |
Originated Loans [Member] | Commercial Non Real Estate Credit Exposure [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 6,205,372 | 5,577,827 |
Originated Loans [Member] | 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 | 167,720 | 174,742 |
Originated Loans [Member] | 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 | 211,230 | 52,962 |
Originated Loans [Member] | Commercial Non Real Estate Credit Exposure [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 346,087 | 112,153 |
Originated Loans [Member] | Commercial Non Real Estate Credit Exposure [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 44 | 44 |
Originated Loans [Member] | Commercial Real Estate Credit Exposure [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 3,220,509 | 2,428,195 |
Originated Loans [Member] | Commercial Real Estate Credit Exposure [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 3,058,342 | 2,241,391 |
Originated Loans [Member] | Commercial Real Estate Credit Exposure [Member] | Pass-Watch [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 41,830 | 61,589 |
Originated Loans [Member] | Commercial Real Estate Credit Exposure [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 40,576 | 21,543 |
Originated Loans [Member] | Commercial Real Estate Credit Exposure [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 79,745 | 103,651 |
Originated Loans [Member] | Commercial Real Estate Credit Exposure [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 16 | 21 |
Acquired Loans [Member] | Construction Credit Exposure [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 5,080 | 21,123 |
Acquired Loans [Member] | Construction Credit Exposure [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 910 | 14,377 |
Acquired Loans [Member] | Construction Credit Exposure [Member] | Pass-Watch [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 223 | 432 |
Acquired Loans [Member] | Construction Credit Exposure [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 129 | |
Acquired Loans [Member] | Construction Credit Exposure [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 3,947 | 6,185 |
Acquired Loans [Member] | Commercial Non Real Estate Credit Exposure [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 59,843 | 120,137 |
Acquired Loans [Member] | Commercial Non Real Estate Credit Exposure [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 53,381 | 111,847 |
Acquired Loans [Member] | 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 | 715 | |
Acquired Loans [Member] | 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 | 350 | |
Acquired Loans [Member] | Commercial Non Real Estate Credit Exposure [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 6,462 | 7,225 |
Acquired Loans [Member] | Commercial Real Estate Credit Exposure [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 176,460 | 688,045 |
Acquired Loans [Member] | Commercial Real Estate Credit Exposure [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 159,750 | 641,966 |
Acquired Loans [Member] | Commercial Real Estate Credit Exposure [Member] | Pass-Watch [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 2,355 | 11,142 |
Acquired Loans [Member] | Commercial Real Estate Credit Exposure [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 5,112 | 8,113 |
Acquired Loans [Member] | Commercial Real Estate Credit Exposure [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 9,243 | 26,824 |
FDIC Acquired Loans [Member] | Construction Credit Exposure [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 7,127 | 11,674 |
FDIC Acquired Loans [Member] | Construction Credit Exposure [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 2,087 | 2,468 |
FDIC Acquired Loans [Member] | Construction Credit Exposure [Member] | Pass-Watch [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 909 | 532 |
FDIC Acquired Loans [Member] | Construction Credit Exposure [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 280 | 319 |
FDIC Acquired Loans [Member] | Construction Credit Exposure [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 3,851 | 8,355 |
FDIC Acquired Loans [Member] | Commercial Non Real Estate Credit Exposure [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 5,528 | 6,195 |
FDIC Acquired Loans [Member] | Commercial Non Real Estate Credit Exposure [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 2,110 | 2,027 |
FDIC Acquired Loans [Member] | 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 | 869 | 1,120 |
FDIC Acquired Loans [Member] | Commercial Non Real Estate Credit Exposure [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 2,549 | 3,017 |
FDIC Acquired Loans [Member] | Commercial Non Real Estate Credit Exposure [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 31 | |
FDIC Acquired Loans [Member] | Commercial Real Estate Credit Exposure [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 15,582 | 27,808 |
FDIC Acquired Loans [Member] | Commercial Real Estate Credit Exposure [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 3,117 | 4,139 |
FDIC Acquired Loans [Member] | Commercial Real Estate Credit Exposure [Member] | Pass-Watch [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 2,296 | 4,547 |
FDIC Acquired Loans [Member] | Commercial Real Estate Credit Exposure [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | 1,364 | 1,319 |
FDIC Acquired Loans [Member] | Commercial Real Estate Credit Exposure [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile by internally assigned grade | $ 8,805 | $ 17,803 |
Loans - Schedule of Credit Qu63
Loans - Schedule of Credit Quality Indicators of Various Classes of Loans - Credit Risk Profile Based on Payment Activity and Accrual Status (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | $ 2,049,524 | $ 1,894,181 |
Residential Mortgages [Member] | Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 2,025,563 | 1,870,887 |
Residential Mortgages [Member] | Nonperforming [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 23,961 | 23,294 |
Residential Mortgages [Member] | Originated Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 1,887,256 | 1,704,770 |
Residential Mortgages [Member] | Originated Loans [Member] | Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 1,863,295 | 1,681,868 |
Residential Mortgages [Member] | Originated Loans [Member] | Nonperforming [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 23,961 | 22,902 |
Residential Mortgages [Member] | Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 27 | 2,378 |
Residential Mortgages [Member] | Acquired Loans [Member] | Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 27 | 2,378 |
Residential Mortgages [Member] | FDIC Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 162,241 | 187,033 |
Residential Mortgages [Member] | FDIC Acquired Loans [Member] | Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 162,241 | 186,641 |
Residential Mortgages [Member] | FDIC Acquired Loans [Member] | Nonperforming [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 392 | |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 2,093,465 | 1,706,226 |
Consumer [Member] | Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 2,082,238 | 1,698,579 |
Consumer [Member] | Nonperforming [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 11,227 | 7,647 |
Consumer [Member] | Originated Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 2,080,626 | 1,685,542 |
Consumer [Member] | Originated Loans [Member] | Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 2,069,399 | 1,678,069 |
Consumer [Member] | Originated Loans [Member] | Nonperforming [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 11,227 | 7,473 |
Consumer [Member] | Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 20 | 985 |
Consumer [Member] | Acquired Loans [Member] | Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 20 | 985 |
Consumer [Member] | FDIC Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | 12,819 | 19,699 |
Consumer [Member] | FDIC Acquired Loans [Member] | Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | $ 12,819 | 19,525 |
Consumer [Member] | FDIC Acquired Loans [Member] | Nonperforming [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile based on payment activity and accrual status | $ 174 |
Loans - Changes in Carrying Amo
Loans - Changes in Carrying Amount of Acquired Loans and Accretable Yield for Loans Receivable (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
FDIC Acquired Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying Amount of Loans, Balance at beginning of period | $ 252,409 | $ 358,666 |
Carrying Amount of Loans, Payments received, net | (62,579) | (125,388) |
Carrying Amount of Loans, Accretion | 13,467 | 19,131 |
Carrying Amount of Loans, Balance at end of period | 203,297 | 252,409 |
Accretable Yield, Balance at beginning of period | 112,788 | 122,715 |
Accretable Yield, Payments received, net | (422) | (1,071) |
Accretable Yield, Accretion | (13,467) | (19,131) |
Accretable Yield, Decrease in expected cash flows based on actual cash flows and changes in cash flow assumptions | (3,537) | (1,137) |
Net transfers from nonaccretable difference to accretable yield | (3,798) | 11,412 |
Accretable Yield, Balance at end of period | 91,564 | 112,788 |
Acquired Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying Amount of Loans, Balance at beginning of period | 61,276 | 68,075 |
Carrying Amount of Loans, Payments received, net | (53,268) | (50,178) |
Carrying Amount of Loans, Accretion | 14,533 | 43,379 |
Carrying Amount of Loans, Balance at end of period | 22,541 | 61,276 |
Accretable Yield, Balance at beginning of period | 74,668 | 131,370 |
Accretable Yield, Payments received, net | (21,556) | (32,855) |
Accretable Yield, Accretion | (14,533) | (43,379) |
Accretable Yield, Decrease in expected cash flows based on actual cash flows and changes in cash flow assumptions | (701) | (203) |
Net transfers from nonaccretable difference to accretable yield | 46 | 19,735 |
Accretable Yield, Balance at end of period | $ 37,924 | $ 74,668 |
Property and Equipment - Proper
Property and Equipment - Property and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | $ 586,778 | $ 591,911 |
Accumulated depreciation and amortization | (209,763) | (193,527) |
Property and equipment, net | 377,015 | 398,384 |
Land and Land Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | 81,940 | 86,039 |
Buildings and Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | 339,309 | 348,450 |
Furniture, Fixtures and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | 95,364 | 90,244 |
Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | 65,383 | 57,305 |
Assets Under Development [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | $ 4,782 | $ 9,873 |
Property and Equipment - Additi
Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation and amortization | $ 28.8 | $ 30.3 | $ 32.1 |
Goodwill and Other Intangible67
Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Goodwill And Other Intangible Assets [Line Items] | |||
Carrying amount of goodwill | $ 621,193,000 | $ 621,193,000 | |
Percentage of fair market value of goodwill higher than book value, weighted approach | 15.00% | ||
Goodwill impairment | $ 0 | $ 0 | $ 0 |
Intangible assets written off related to the sale of business unit | $ 1,100,000 | ||
Core Deposit Intangibles [Member] | |||
Goodwill And Other Intangible Assets [Line Items] | |||
Weighted-average remaining life of intangible assets | 10 years | ||
Other Identifiable Intangibles [Member] | |||
Goodwill And Other Intangible Assets [Line Items] | |||
Weighted-average remaining life of intangible assets | 8 years |
Goodwill and Other Intangible68
Goodwill and Other Intangible Assets - Components of Other Intangible Assets and Related Amortization (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Finite-Lived Intangible Assets [Line Items] | |||
Purchase Value | $ 234,777 | $ 242,524 | |
Accumulated Amortization | 127,239 | 109,714 | |
Carrying Value | 107,538 | 132,810 | |
Aggregate amortization expense | 24,184 | 26,797 | $ 29,470 |
Core Deposit Intangibles [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Purchase Value | 190,655 | 198,002 | |
Accumulated Amortization | 97,026 | 85,254 | |
Carrying Value | 93,629 | 112,748 | |
Aggregate amortization expense | 18,031 | 19,897 | 21,905 |
Credit Card and Trust Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Purchase Value | 22,400 | 22,400 | |
Accumulated Amortization | 12,735 | 10,366 | |
Carrying Value | 9,665 | 12,034 | |
Aggregate amortization expense | 2,369 | 2,566 | 2,819 |
Value of Insurance Business Acquired [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Aggregate amortization expense | 34 | 148 | |
Non-Compete Agreements [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Purchase Value | 400 | ||
Accumulated Amortization | 400 | ||
Aggregate amortization expense | 100 | 200 | |
Trade Name [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Purchase Value | 11,722 | 11,722 | |
Accumulated Amortization | 11,722 | 9,334 | |
Carrying Value | 2,388 | ||
Aggregate amortization expense | 2,388 | 2,605 | 2,605 |
Merchant Processing Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Purchase Value | 10,000 | 10,000 | |
Accumulated Amortization | 5,756 | 4,360 | |
Carrying Value | 4,244 | 5,640 | |
Aggregate amortization expense | $ 1,396 | $ 1,595 | $ 1,793 |
Goodwill and Other Intangible69
Goodwill and Other Intangible Assets - Estimated Amortization Expense of Other Intangible Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2,016 | $ 19,782 | |
2,017 | 17,814 | |
2,018 | 15,842 | |
2,019 | 13,328 | |
2,020 | 10,529 | |
Thereafter | 30,243 | |
Carrying Value | $ 107,538 | $ 132,810 |
Deposits - Maturities of Time D
Deposits - Maturities of Time Deposits (Detail) $ in Thousands | Dec. 31, 2015USD ($) |
Time Deposits [Abstract] | |
2,016 | $ 1,419,164 |
2,017 | 557,833 |
2,018 | 169,604 |
2,019 | 67,636 |
2,020 | 17,297 |
Thereafter | 9,750 |
Total time deposits | $ 2,241,284 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) $ in Millions | Dec. 31, 2015USD ($) |
Time Deposits [Abstract] | |
Time deposits of $250,000 or more | $ 574 |
Short-Term Borrowings - Short-T
Short-Term Borrowings - Short-Term Borrowings (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Federal Funds Purchased [Member] | ||
Short-term Debt [Line Items] | ||
Amount outstanding at period-end | $ 10,100 | $ 12,000 |
Average amount outstanding during period | 15,992 | 12,196 |
Maximum amount at any month-end during period | $ 13,675 | $ 12,000 |
Weighted-average interest at period-end | 0.13% | 0.13% |
Weighted-average interest rate during period | 0.26% | 0.25% |
Securities Sold Under Agreements to Repurchase [Member] | ||
Short-term Debt [Line Items] | ||
Amount outstanding at period-end | $ 513,544 | $ 624,573 |
Average amount outstanding during period | 539,169 | 688,704 |
Maximum amount at any month-end during period | $ 609,671 | $ 816,617 |
Weighted-average interest at period-end | 0.03% | 0.03% |
Weighted-average interest rate during period | 0.03% | 0.27% |
FHLB Borrowings [Member] | ||
Short-term Debt [Line Items] | ||
Amount outstanding at period-end | $ 900,000 | $ 515,000 |
Average amount outstanding during period | 469,973 | 304,781 |
Maximum amount at any month-end during period | $ 900,000 | $ 565,000 |
Weighted-average interest at period-end | 0.32% | 0.12% |
Weighted-average interest rate during period | 0.18% | 0.15% |
Short-Term Borrowings - Additio
Short-Term Borrowings - Additional Information (Detail) - FHLB Borrowings [Member] - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Short-term Debt [Line Items] | ||
Amount outstanding at period-end | $ 900,000 | $ 515,000 |
FHLB Borrowings, Maturing in 2017 # 1 [Member] | ||
Short-term Debt [Line Items] | ||
Amount outstanding at period-end | 225,000 | |
FHLB Borrowings, Maturing in2017 # 2 [Member] | ||
Short-term Debt [Line Items] | ||
Amount outstanding at period-end | 225,000 | |
FHLB Borrowings, Maturing in 2020 # 1 [Member] | ||
Short-term Debt [Line Items] | ||
Amount outstanding at period-end | 225,000 | |
FHLB Borrowings, Maturing in 2020 # 2 [Member] | ||
Short-term Debt [Line Items] | ||
Amount outstanding at period-end | $ 225,000 |
Long-Term Debt - Long-Term Debt
Long-Term Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Mar. 09, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | |||
Other long-term debt | $ 122,988 | $ 126,760 | |
Total long-term debt | 495,999 | 374,371 | |
Term Note Payable Maturing December 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Term note payable | 125,000 | ||
Term Note Payable Maturing December 2015 [Member] | |||
Debt Instrument [Line Items] | |||
Term note payable | 149,600 | ||
Subordinated Debt [Member] | Subordinated Notes Payable Maturing June 2045 [Member] | |||
Debt Instrument [Line Items] | |||
Subordinated notes payable | 150,000 | $ 150,000 | |
Subordinated Debt [Member] | Subordinated Notes Payable Maturing April 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Subordinated notes payable | $ 98,011 | $ 98,011 |
Long-Term Debt - Long-Term De75
Long-Term Debt - Long-Term Debt (Parenthetical) (Detail) - Subordinated Debt [Member] | 12 Months Ended |
Dec. 31, 2015 | |
Subordinated Notes Payable Maturing June 2045 [Member] | |
Debt Instrument [Line Items] | |
Subordinated notes payable maturity date | Jun. 15, 2045 |
Subordinated Notes Payable Maturing April 2017 [Member] | |
Debt Instrument [Line Items] | |
Subordinated notes payable maturity date | Apr. 1, 2017 |
Long-Term Debt - Additional Inf
Long-Term Debt - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 18, 2015 | Mar. 09, 2015 | Dec. 21, 2012 | Dec. 31, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | |||||
Other long term debt maturity date, ending period | 2,053 | ||||
Subordinated Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Subordinated notes interest rate | 5.875% | ||||
Qualified percentage of subordinated notes in regulatory capital | 20.00% | ||||
Subordinated Notes Payable Maturing June 2045 [Member] | Subordinated Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Sale of aggregate principal amount of subordinated notes | $ 150,000 | $ 150,000 | |||
Subordinated notes payable maturity date | Jun. 15, 2045 | ||||
Subordinated notes interest rate | 5.95% | ||||
Subordinated Notes Payable Maturing April 2017 [Member] | Subordinated Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Sale of aggregate principal amount of subordinated notes | $ 98,011 | $ 98,011 | |||
Subordinated notes payable maturity date | Apr. 1, 2017 | ||||
Senior Unsecured Single Draw Term Loan Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Term note payable | $ 125,000 | ||||
Reference rate for loan variable rate | LIBOR | ||||
Percentage points added to reference rate | 1.50% | ||||
Debt instrument term loan facility maturity date | Dec. 18, 2018 | ||||
Principal payment of term loan | $ 4,500 | ||||
Three Year Term Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Term note payable | $ 220,000 | ||||
Reference rate for loan variable rate | LIBOR | ||||
Percentage points added to reference rate | 1.875% | ||||
Debt instrument term loan facility maturity date | Dec. 31, 2015 | ||||
Term loan agreement period | 3 years | ||||
Additional borrowings | $ 50,000 |
Derivatives - Fair Values of De
Derivatives - Fair Values of Derivative Instruments on Balance Sheet (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Derivatives, Fair Value [Line Items] | ||
Derivative Fair Value Of Asset | $ 23,251 | $ 19,432 |
Derivative Fair Value Of Liability | 23,968 | 20,860 |
Derivatives Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 500,000 | 300,000 |
Derivative Fair Value Of Liability | 281 | 592 |
Derivatives Designated as Hedging Instruments [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 500,000 | 300,000 |
Derivative Fair Value Of Liability | 281 | 592 |
Derivatives Not Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 1,002,350 | 1,002,930 |
Derivative Fair Value Of Asset | 23,251 | 19,432 |
Derivative Fair Value Of Liability | 23,687 | 20,268 |
Derivatives Not Designated as Hedging Instruments [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 780,871 | 747,754 |
Derivative Fair Value Of Asset | 20,622 | 17,806 |
Derivative Fair Value Of Liability | 21,007 | 18,419 |
Derivatives Not Designated as Hedging Instruments [Member] | Risk Participation Agreements [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 83,430 | 80,438 |
Derivative Fair Value Of Asset | 83 | 125 |
Derivative Fair Value Of Liability | 162 | 208 |
Derivatives Not Designated as Hedging Instruments [Member] | Forward Commitments to Sell Residential Mortgage Loans [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 55,128 | 52,238 |
Derivative Fair Value Of Asset | 263 | 80 |
Derivative Fair Value Of Liability | 336 | 250 |
Derivatives Not Designated as Hedging Instruments [Member] | Interest Rate-Lock Commitments on Residential Mortgage Loans [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 38,853 | 33,068 |
Derivative Fair Value Of Asset | 243 | 111 |
Derivative Fair Value Of Liability | 167 | 44 |
Derivatives Not Designated as Hedging Instruments [Member] | Foreign Exchange Forward Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 44,068 | 89,432 |
Derivative Fair Value Of Asset | 2,040 | 1,310 |
Derivative Fair Value Of Liability | $ 2,015 | $ 1,347 |
Derivatives - Additional Inform
Derivatives - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2015USD ($)Agreement | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Derivative [Line Items] | |||
Termination value of derivatives in a net liability position | $ 20,800,000 | ||
Collateral obligations for derivative counterparties | 23,700,000 | ||
Interest Income [Member] | Cash Flow Hedges [Member] | |||
Derivative [Line Items] | |||
Impact of derivative income reflected in income statement | $ 2,100,000 | $ 300,000 | $ 0 |
Interest Rate Swaps [Member] | |||
Derivative [Line Items] | |||
Number of interest rate swap agreements | Agreement | 2 | ||
Interest Rate Swaps [Member] | Noninterest Income [Member] | |||
Derivative [Line Items] | |||
Impact of derivative income reflected in income statement | $ 2,700,000 | $ 1,600,000 | $ 4,700,000 |
Interest Rate Swaps [Member] | $300 Million Swap Agreement [Member] | |||
Derivative [Line Items] | |||
Notional amount of derivatives | $ 300,000,000 | ||
Variable rate term loan agreement maturity | 2017-01 | ||
Interest Rate Swaps [Member] | $200 Million Swap Agreement [Member] | |||
Derivative [Line Items] | |||
Notional amount of derivatives | $ 200,000,000 | ||
Variable rate term loan agreement maturity | 2017-06 |
Derivatives - Offsetting Deriva
Derivatives - Offsetting Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Gross Amounts Recognized, Derivative Assets | $ 224 | $ 650 |
Gross Amounts Offset in the Statement of Financial Position, Derivative Assets | 0 | 0 |
Net Amounts Presented in the Statement of Financial Position, Derivative Assets | 224 | 650 |
Gross Amounts Not Offset in the Statement of Financial Position - Financial Instruments, Derivative Assets | 224 | 650 |
Gross Amounts Not offset in the Statement of Financial Position -Cash Collateral, Derivative Assets | 0 | 0 |
Net Amount, Derivative Assets | 0 | 0 |
Gross Amounts Recognized, Derivative Liabilities | 21,034 | 16,771 |
Gross Amounts Offset in the Statement of Financial Position, Derivative Liabilities | 0 | 0 |
Net Amounts Presented in the Statement of Financial Position, Derivative Liabilities | 21,034 | 16,771 |
Gross Amounts Not Offset in the Statement of Financial Position - Financial Instruments, Derivative Liabilities | 224 | 650 |
Gross Amounts Not offset in the Statement of Financial Position -Cash Collateral, Derivative Liabilities | 23,482 | 17,343 |
Net Amount, Derivative Liabilities | $ (2,672) | $ (1,222) |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - $ / shares | Aug. 28, 2015 | Jul. 16, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Stockholders Equity [Line Items] | |||||
Shares authorized for repurchase | 5.00% | 5.00% | |||
Number of shares authorized for repurchase | 3,900,000 | 4,100,000 | |||
Repurchased common stock shares | 4,100,000 | 741,393 | |||
Shares repurchased, price per share | $ 30.02 | $ 27.44 | |||
Taxes computed at statutory rate | 35.00% | 35.00% | 35.00% | ||
Hancock [Member] | |||||
Stockholders Equity [Line Items] | |||||
Minimum risk-based capital ratio | 8.00% | 8.00% | |||
Minimum Tier 1 capital ratio | 6.00% | 4.00% | |||
Minimum Tier 1 leverage capital ratio | 4.00% | 3.00% | |||
Minimum Tier 1 common equity | 4.50% | ||||
Well capitalized total risk based capital ratio | 10.00% | ||||
Well capitalized Tier 1 risk-based capital ratio | 8.00% | ||||
Well capitalized Tier 1 leverage capital ratio | 5.00% | ||||
Well capitalized Tier 1 common equity | 6.50% | ||||
Bank Holding Companies and Banks that Meet Certain Criteria [Member] | |||||
Stockholders Equity [Line Items] | |||||
Minimum Tier 1 leverage capital ratio | 3.00% |
Stockholders' Equity - Componen
Stockholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive income (loss), Beginning balance | $ (50,074) | $ (35,379) | $ (22,925) |
Net change in unrealized (loss) gain | (21,270) | 14,821 | (105,274) |
Reclassification of net (gain) loss realized and included in earnings | 3,010 | 390 | 8,527 |
Valuation adjustment for employee benefit plans | (33,971) | (41,244) | 82,653 |
Amortization of unrealized net gain (loss) on securities transferred to held to maturity | 3,530 | 3,297 | (6,371) |
Income tax expense (benefit) | (18,180) | (8,041) | (8,011) |
Accumulated other comprehensive income (loss), Ending balance | (80,595) | (50,074) | (35,379) |
Available for Sale Securities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive income (loss), Beginning balance | 18,001 | 8,263 | 38,854 |
Net change in unrealized (loss) gain | (21,581) | 15,413 | (105,270) |
Transfer of net unrealized loss from AFS to HTM, net of cumulative tax effect | 36,208 | ||
Reclassification of net (gain) loss realized and included in earnings | (165) | (105) | |
Income tax expense (benefit) | (8,013) | 5,675 | (38,576) |
Accumulated other comprehensive income (loss), Ending balance | 4,268 | 18,001 | 8,263 |
Held to Maturity Securities Transferred from AFS [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive income (loss), Beginning balance | (19,074) | (21,189) | 19,090 |
Transfer of net unrealized loss from AFS to HTM, net of cumulative tax effect | (36,208) | ||
Amortization of unrealized net gain (loss) on securities transferred to held to maturity | 3,530 | 3,297 | (6,371) |
Income tax expense (benefit) | 1,251 | 1,182 | (2,300) |
Accumulated other comprehensive income (loss), Ending balance | (16,795) | (19,074) | (21,189) |
Employee Benefit Plans [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive income (loss), Beginning balance | (48,626) | (22,453) | (80,688) |
Reclassification of net (gain) loss realized and included in earnings | 3,175 | 390 | 8,331 |
Valuation adjustment for employee benefit plans | (33,971) | (41,244) | 82,653 |
Income tax expense (benefit) | (11,532) | (14,681) | 32,749 |
Accumulated other comprehensive income (loss), Ending balance | (67,890) | (48,626) | (22,453) |
Gains and Losses on Cash Flow Hedges [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive income (loss), Beginning balance | (375) | (181) | |
Net change in unrealized gain (loss) | 311 | (592) | (4) |
Reclassification of net (gain) loss realized and included in earnings | 301 | ||
Income tax expense (benefit) | 114 | (217) | $ 116 |
Accumulated other comprehensive income (loss), Ending balance | $ (178) | $ (375) |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Line Items in Consolidated Income Statements Affected by Amounts Reclassified from Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Tax effect | $ (38,304) | $ (66,465) | $ (52,510) |
Net income | 131,461 | 175,722 | $ 163,356 |
Amount Reclassified from Accumulated Other Comprehensive Income [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Net income | (4,251) | 2,396 | |
Amount Reclassified from Accumulated Other Comprehensive Income [Member] | Available for Sale Securities [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Gain on sale of AFS securities | 165 | ||
Tax effect | (58) | ||
Net income | 107 | ||
Amount Reclassified from Accumulated Other Comprehensive Income [Member] | Unrealized Losses on Securities Available for Sale Transferred to Held to Maturity [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Amortization of unrealized net loss on securities transferred to HTM | (3,530) | (3,297) | |
Tax effect | 1,236 | 1,154 | |
Net income | (2,294) | (2,143) | |
Amount Reclassified from Accumulated Other Comprehensive Income [Member] | Employee Benefit Plans [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Amortization of defined benefit pension and post-retirement items | (3,175) | (390) | |
Tax effect | 1,111 | 137 | |
Net income | $ (2,064) | $ (253) |
Stockholders' Equity - Schedule
Stockholders' Equity - Schedule of Compliance with Regulatory Capital Requirements (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Hancock [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage capital Actual, Amount | $ 1,844,992 | $ 1,777,348 |
Common equity tier 1 (to risk weighted assets), Actual Amount | 1,844,992 | |
Tier 1 capital (to risk weighted assets), Actual, Amount | 1,844,992 | 1,777,348 |
Total capital (to risk weighted assets), Actual, Amount | $ 2,195,913 | $ 1,945,710 |
Tier 1 leverage capital, Actual, Ratio % | 8.55% | 9.17% |
Common equity tier 1 (to risk weighted assets), Actual, Ratio % | 9.96% | |
Tier 1 capital (to risk weighted assets), Actual, Ratio % | 9.96% | 11.23% |
Total capital (to risk weighted assets), Actual, Ratio % | 11.86% | 12.30% |
Tier 1 leverage capital, Required for Minimum Capital Adequacy, Amount | $ 863,289 | $ 581,263 |
Common equity tier 1 (to risk weighted assets), Required for Minimum Capital Adequacy, Amount | 833,216 | |
Tier 1 capital (to risk weighted assets), Required for Minimum Capital Adequacy, Amount | 1,110,954 | 632,898 |
Total capital (to risk weighted assets), Required for Minimum Capital Adequacy, Amount | $ 1,481,272 | $ 1,265,796 |
Tier 1 leverage capital, Required for Minimum Capital Adequacy, Ratio % | 4.00% | 3.00% |
Common equity tier 1 (to risk weighted assets), Required for Minimum Capital Adequacy, Ratio % | 4.50% | |
Tier 1 capital (to risk weighted assets), Required for Minimum Capital Adequacy, Ratio % | 6.00% | 4.00% |
Total capital (to risk weighted assets), Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
Common equity tier 1 (to risk weighted assets), Required To Be Well Capitalized , Amount | $ 1,203,534 | |
Tier 1 leverage capital, To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 1,079,111 | |
Tier 1 capital (to risk weighted assets), To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 1,481,272 | |
Total capital (to risk weighted assets), To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | $ 1,851,590 | |
Common equity tier 1 (to risk weighted assets), Required To Be Well Capitalized, Ratio % | 6.50% | |
Tier 1 leverage capital, To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | |
Tier 1 capital (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 8.00% | |
Total capital (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | |
Whitney Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage capital Actual, Amount | $ 1,965,332 | $ 1,756,813 |
Common equity tier 1 (to risk weighted assets), Actual Amount | 1,965,332 | |
Tier 1 capital (to risk weighted assets), Actual, Amount | 1,965,332 | 1,756,813 |
Total capital (to risk weighted assets), Actual, Amount | $ 2,166,253 | $ 1,925,175 |
Tier 1 leverage capital, Actual, Ratio % | 9.16% | 9.13% |
Common equity tier 1 (to risk weighted assets), Actual, Ratio % | 10.64% | |
Tier 1 capital (to risk weighted assets), Actual, Ratio % | 10.64% | 11.13% |
Total capital (to risk weighted assets), Actual, Ratio % | 11.73% | 12.20% |
Tier 1 leverage capital, Required for Minimum Capital Adequacy, Amount | $ 858,551 | $ 577,493 |
Common equity tier 1 (to risk weighted assets), Required for Minimum Capital Adequacy, Amount | 830,985 | |
Tier 1 capital (to risk weighted assets), Required for Minimum Capital Adequacy, Amount | 1,107,980 | 631,220 |
Total capital (to risk weighted assets), Required for Minimum Capital Adequacy, Amount | $ 1,477,306 | $ 1,262,439 |
Tier 1 leverage capital, Required for Minimum Capital Adequacy, Ratio % | 4.00% | 3.00% |
Common equity tier 1 (to risk weighted assets), Required for Minimum Capital Adequacy, Ratio % | 4.50% | |
Tier 1 capital (to risk weighted assets), Required for Minimum Capital Adequacy, Ratio % | 6.00% | 4.00% |
Total capital (to risk weighted assets), Required for Minimum Capital Adequacy, Ratio % | 8.00% | 8.00% |
Common equity tier 1 (to risk weighted assets), Required To Be Well Capitalized , Amount | $ 1,200,312 | |
Tier 1 leverage capital, To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 1,073,189 | $ 962,488 |
Tier 1 capital (to risk weighted assets), To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | 1,477,306 | 946,829 |
Total capital (to risk weighted assets), To Be Well Capitalized Under Prompt Correct Action Provisions, Amount | $ 1,846,633 | $ 1,578,049 |
Common equity tier 1 (to risk weighted assets), Required To Be Well Capitalized, Ratio % | 6.50% | |
Tier 1 leverage capital, To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 5.00% | 5.00% |
Tier 1 capital (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 8.00% | 6.00% |
Total capital (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio % | 10.00% | 10.00% |
Other Noninterest Income and 84
Other Noninterest Income and Other Noninterest Expense - Components of Other Noninterest Income and Other Noninterest Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Other noninterest income: | |||
Income from bank-owned life insurance | $ 10,881 | $ 10,314 | $ 11,223 |
Credit-related fees | 11,057 | 11,121 | 8,724 |
Income from derivatives | 2,745 | 1,645 | 4,675 |
Gain on sales of assets | 186 | 1,279 | 1,932 |
Safety deposit box income | 1,758 | 1,830 | 1,923 |
Other miscellaneous income | 9,334 | 9,249 | 8,754 |
Total other noninterest income | 35,961 | 35,438 | 37,231 |
Other noninterest expense: | |||
Advertising | 11,225 | 8,937 | 10,399 |
Ad valorem and franchise taxes | 10,498 | 10,492 | 9,727 |
Printing and supplies | 4,851 | 4,550 | 5,112 |
Insurance expense | 3,482 | 3,919 | 4,094 |
Travel | 5,331 | 4,066 | 4,716 |
Entertainment and contributions | 6,723 | 5,762 | 5,265 |
Tax credit investment amortization | 8,513 | 8,817 | 10,781 |
Other miscellaneous expense | 21,580 | 30,585 | 45,242 |
Total other noninterest expense | $ 72,203 | $ 77,128 | $ 95,336 |
Other Noninterest Income and 85
Other Noninterest Income and Other Noninterest Expense - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Nonoperating expense [Line Items] | |||
Other miscellaneous expense | $ 21,580 | $ 30,585 | $ 45,242 |
Other Miscellaneous Expense [Member] | |||
Nonoperating expense [Line Items] | |||
Other miscellaneous expense | $ 2,700 | $ 9,600 | $ 19,700 |
Income Taxes - Components of In
Income Taxes - Components of Income Tax Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Included in net income | |||
Current federal | $ 17,378 | $ 41,441 | $ 14,797 |
Current state | 4,241 | 1,487 | (3,207) |
Total current provision | 21,619 | 42,928 | 11,590 |
Deferred federal | 15,457 | 21,483 | 37,403 |
Deferred state | 1,228 | 2,054 | 3,517 |
Total deferred provision | 16,685 | 23,537 | 40,920 |
Total included in net income | 38,304 | 66,465 | 52,510 |
Included in shareholders' equity | |||
Deferred tax related to retirement benefits | (11,532) | (14,681) | 32,749 |
Deferred tax related to securities | (6,762) | 6,857 | (40,876) |
Deferred tax related to derivatives and hedging | 114 | (217) | 116 |
Total included in shareholders' equity | $ (18,180) | $ (8,041) | $ (8,011) |
Income Taxes - Components of Co
Income Taxes - Components of Company's Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred tax assets: | ||
Allowance for loan losses | $ 72,940 | $ 57,667 |
Employee compensation and benefits | 26,853 | 50,361 |
Loan purchase accounting adjustments | 18,977 | 35,094 |
Tax credit carryforward | 42,850 | 35,553 |
Securities | 5,038 | |
State net operating loss | 1,910 | 1,535 |
Other | 10,928 | 8,472 |
Gross deferred tax assets | 179,496 | 188,682 |
State valuation allowance | (1,910) | (1,529) |
Subtotal valuation allowance | (1,910) | (1,529) |
Net deferred tax assets | 177,586 | 187,153 |
Deferred tax liabilities: | ||
Fixed assets & intangibles | (80,389) | (88,062) |
Securities | (724) | |
FDIC indemnification asset | (10,688) | (18,769) |
Other | (10,679) | (5,263) |
Gross deferred tax liabilities | (101,756) | (112,818) |
Net deferred tax asset | $ 75,830 | $ 74,335 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax [Line Items] | |||
Tax computed at statutory rate | 35.00% | 35.00% | 35.00% |
Federal and State tax credit carryforwards | $ 42,850 | $ 35,553 | |
From 2011 Through 2015 Tax Years [Member] | Federal And State Tax Credits [Member] | |||
Income Tax [Line Items] | |||
Federal and State tax credit carryforwards | 43,000 | ||
2004 Through 2015 Tax Years [Member] | State [Member] | |||
Income Tax [Line Items] | |||
State net operating loss carryforwards | $ 37,000 | ||
Operating loss carry forwards, Expiration dates | 2,019 |
Income Taxes - Schedule of Effe
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Taxes computed at statutory rate, amount | $ 59,418 | $ 84,766 | $ 75,553 |
State income taxes, net of federal income tax benefit, amount | 2,595 | 4,649 | 2,352 |
Tax-exempt interest, amount | (7,849) | (6,301) | (6,487) |
Bank owned life insurance, amount | (3,798) | (3,554) | (3,926) |
Tax credits, amount | (12,495) | (16,577) | (15,743) |
Other, net, amount | 433 | 3,482 | 761 |
Income tax expense | $ 38,304 | $ 66,465 | $ 52,510 |
Taxes computed at statutory rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal income tax benefit | 2.00% | 2.00% | 1.00% |
Tax-exempt interest | (5.00%) | (3.00%) | (3.00%) |
Bank owned life insurance | (2.00%) | (1.00%) | (2.00%) |
Tax credits | (7.00%) | (7.00%) | (7.00%) |
Other, net | 1.00% | ||
Income tax expense | 23.00% | 27.00% | 24.00% |
Earnings Per Share - Computatio
Earnings Per Share - Computation of Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Numerator: | |||
Net income to common shareholders | $ 131,461 | $ 175,722 | $ 163,356 |
Net income allocated to participating securities - basic and diluted | 2,895 | 3,631 | 3,105 |
Net income allocated to common shareholders - basic and diluted | $ 128,566 | $ 172,091 | $ 160,251 |
Denominator: | |||
Weighted-average common shares - basic | 78,197 | 81,804 | 83,066 |
Dilutive potential common shares | 110 | 230 | 101 |
Weighted average common shares - diluted | 78,307 | 82,034 | 83,167 |
Earnings per common share: | |||
Basic | $ 1.64 | $ 2.10 | $ 1.93 |
Diluted | $ 1.64 | $ 2.10 | $ 1.93 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Earnings Per Share [Abstract] | |||
Weighted-average anti-dilutive potential common shares | 798,623 | 621,327 | 916,756 |
Retirement Benefit Plans - Addi
Retirement Benefit Plans - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2007 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
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% | |||
Estimated amounts of actuarial loss that will be amortized from AOCI into net periodic benefit cost over the next year | $ 5,500 | |||
Pension Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | 86,123 | $ 1,123 | ||
Funded status at end of year-net asset (liability) | 28,731 | $ (18,203) | ||
Defined benefit plan, excess of plan assets over the benefit obligation | 44,000 | |||
Defined Benefit Plan, Unfunded Benefit Obligation | $ 15,300 | |||
Hancock Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Minimum age for increase in per capita cost of health care benefit | 55 years | |||
Year of service who have reached 55 years of age | 10 years | |||
Increase (decrease) in pre- and post-medicare age health costs rate | 7.50% | |||
Decrease in ultimate rate over a period of time | 5.00% | |||
Defined benefit plan mortality assumption period | 7 years | |||
Whitney 401K Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Minimum age for increase in per capita cost of health care benefit | 55 years | |||
Year of service who have reached 55 years of age | 10 years | |||
Hancock 401k Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | $ 7,400 | $ 7,100 | $ 7,000 |
Retirement Benefit Plans - Comp
Retirement Benefit Plans - Components of Defined Benefit Obligation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||||
Fair value of plan assets: at beginning of year | $ 438,708 | ||||
Fair value of plan assets, end of year | 491,550 | $ 438,708 | |||
Fair value of plan assets | 438,708 | 438,708 | $ 491,550 | $ 438,708 | |
Pension Benefits [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Benefit obligation: at beginning of year | 456,911 | 412,608 | |||
Service cost | 13,511 | 12,920 | $ 16,118 | ||
Interest cost | 18,635 | 19,251 | 16,678 | ||
Net actuarial (gain) loss | (8,154) | 29,738 | |||
Benefits paid | (18,084) | (17,606) | |||
Benefit obligation, end of year | 462,819 | 456,911 | 412,608 | ||
Fair value of plan assets: at beginning of year | 438,708 | 437,829 | |||
Actual return on plan assets | (14,421) | 17,826 | |||
Employer contributions | 86,123 | 1,123 | |||
Benefit payments | (18,084) | (17,606) | |||
Expenses | (776) | (464) | |||
Fair value of plan assets, end of year | 491,550 | 438,708 | 437,829 | ||
Funded status at end of year-net asset (liability) | 28,731 | (18,203) | |||
Unrecognized loss: at beginning of year | 72,858 | 28,285 | |||
Net actuarial loss (gain) | 36,707 | 44,573 | |||
Unrecognized loss at end of year | 109,565 | 72,858 | 28,285 | ||
Projected benefit obligation | 456,911 | 412,608 | 412,608 | 462,819 | 456,911 |
Accumulated benefit obligation | 429,338 | 426,073 | |||
Fair value of plan assets | 438,708 | 437,829 | 437,829 | 491,550 | 438,708 |
Other Post-retirement Benefits [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Benefit obligation: at beginning of year | 28,368 | 31,592 | |||
Service cost | 117 | 126 | 215 | ||
Interest cost | 891 | 1,140 | 1,317 | ||
Net actuarial (gain) loss | (5,905) | (3,467) | |||
Plan participants' contributions | 1,334 | 1,300 | |||
Benefits paid | (2,524) | (2,323) | |||
Benefit obligation, end of year | 22,281 | 28,368 | 31,592 | ||
Employer contributions | 1,190 | 1,023 | |||
Plan participants' contributions | 1,334 | 1,300 | |||
Benefit payments | (2,524) | (2,323) | |||
Funded status at end of year-net asset (liability) | (22,281) | (28,368) | |||
Unrecognized loss: at beginning of year | 3,358 | 7,189 | |||
Net actuarial loss (gain) | (5,911) | (3,831) | |||
Unrecognized loss at end of year | (2,553) | 3,358 | 7,189 | ||
Projected benefit obligation | $ 28,368 | $ 31,592 | $ 31,592 | $ 22,281 | $ 28,368 |
Retirement Benefit Plans - Co94
Retirement Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Pension Benefits [Member] | |||
Defined Benefit Plan Net Periodic Benefit Cost [Line Items] | |||
Service cost | $ 13,511 | $ 12,920 | $ 16,118 |
Interest cost | 18,635 | 19,251 | 16,678 |
Expected return on plan assets | (32,833) | (32,222) | (27,928) |
Amortization of net loss/ prior service cost | 3,169 | 26 | 6,570 |
Net periodic benefit cost | 2,482 | (25) | 11,438 |
Net (loss) gain recognized during the year | (3,169) | (26) | (6,570) |
Net actuarial loss (gain) | 39,876 | 44,599 | (76,939) |
Total recognized in other comprehensive income | 36,707 | 44,573 | (83,509) |
Total recognized in net periodic benefit cost and other comprehensive income | $ 39,189 | $ 44,548 | $ (72,071) |
Discount rate for benefit obligations | 4.40% | 4.11% | 4.73% |
Discount rate for net periodic benefit cost | 4.11% | 4.73% | 3.82% |
Expected long-term return on plan assets | 7.50% | 7.50% | 7.50% |
Rate of compensation increase | 4.00% | ||
Other Post-retirement Benefits [Member] | |||
Defined Benefit Plan Net Periodic Benefit Cost [Line Items] | |||
Service cost | $ 117 | $ 126 | $ 215 |
Interest cost | 891 | 1,140 | 1,317 |
Amortization of net loss/ prior service cost | 6 | 364 | 1,761 |
Net periodic benefit cost | 1,014 | 1,630 | 3,293 |
Net (loss) gain recognized during the year | (6) | (364) | (1,761) |
Net actuarial loss (gain) | (5,905) | (3,467) | (5,563) |
Total recognized in other comprehensive income | (5,911) | (3,831) | (7,324) |
Total recognized in net periodic benefit cost and other comprehensive income | $ (4,897) | $ (2,201) | $ (4,031) |
Discount rate for benefit obligations | 4.32% | 4.02% | 4.58% |
Discount rate for net periodic benefit cost | 4.02% | 4.58% | 3.69% |
Retirement Benefit Plans - Co95
Retirement Benefit Plans - Components of Net Periodic Benefit Cost (Parenthetical) (Detail) - Pension Benefits [Member] | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2013 | |
Defined Benefit Plan Net Periodic Benefit Cost [Line Items] | ||
Rate of compensation increase | 4.00% | |
Age Twenty [Member] | ||
Defined Benefit Plan Net Periodic Benefit Cost [Line Items] | ||
Rate of compensation increase | 7.00% | |
Age Sixty [Member] | ||
Defined Benefit Plan Net Periodic Benefit Cost [Line Items] | ||
Rate of compensation increase | 2.00% |
Retirement Benefit Plans - Expe
Retirement Benefit Plans - Expected Future Plan Benefit Payments (Detail) $ in Thousands | Dec. 31, 2015USD ($) |
Schedule of Expected Future Pension Benefit Payment [Line Items] | |
2,016 | $ 20,315 |
2,017 | 21,281 |
2,018 | 22,218 |
2,019 | 23,040 |
2,020 | 24,015 |
2021-2025 | 135,967 |
Total | 246,836 |
Pension Benefits [Member] | |
Schedule of Expected Future Pension Benefit Payment [Line Items] | |
2,016 | 18,997 |
2,017 | 19,992 |
2,018 | 20,942 |
2,019 | 21,750 |
2,020 | 22,764 |
2021-2025 | 129,722 |
Total | 234,167 |
Other Post-retirement Benefits [Member] | |
Schedule of Expected Future Pension Benefit Payment [Line Items] | |
2,016 | 1,318 |
2,017 | 1,289 |
2,018 | 1,276 |
2,019 | 1,290 |
2,020 | 1,251 |
2021-2025 | 6,245 |
Total | $ 12,669 |
Retirement Benefit Plans - Assu
Retirement Benefit Plans - Assumed Health Care Cost Trend Rates (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Schedule Of Sale Of Subsidiary [Abstract] | |
Aggregated service and interest cost, 1% Decrease in Rates | $ 886 |
Postretirement benefit obligation, 1% Decrease in Rates | 19,820 |
Aggregated service and interest cost, Assumed Rates | 1,008 |
Postretirement benefit obligation, Assumed Rates | 22,281 |
Aggregated service and interest cost, 1% Increase in Rates | 1,159 |
Postretirement benefit obligation, 1% Increase in Rates | $ 25,287 |
RetirementBenefit Plans - Fair
RetirementBenefit Plans - Fair Values Measurements of Pension Plan Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | $ 491,550 | $ 438,708 |
Cash and Equivalents [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 44,224 | 10,243 |
Total Cash and Cash-Equivalents [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 44,224 | 10,243 |
U.S. Government and Agency Securities [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 11,192 | 15,518 |
Municipal Securities [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 31,190 | 33,980 |
Emerging Market Debt Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 24,482 | 19,505 |
Foreign Bonds Notes And Debentures [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 1,743 | 2,588 |
Hancock Horizon Core Bond Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 47,453 | 51,529 |
Corporate Debt Securities [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 61,481 | 62,429 |
Other Fixed Income Securities [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 186 | |
Total Fixed Income [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 177,727 | 185,549 |
Real Assets Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 24,653 | 24,151 |
Hancock Horizon Quantitative Long/ Short Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 5,620 | 5,603 |
Hancock Horizon Diversified International Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 73,478 | 62,750 |
Hancock Horizon Burkenroad Small Cap Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 9,129 | 9,296 |
Hancock Horizon Growth Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 29,447 | 26,469 |
Hancock Horizon Value Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 29,378 | 30,321 |
Equity Securities [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 97,894 | 84,325 |
Mineral Interests [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 1 | |
Total Equity [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 244,946 | 218,765 |
Level 1 [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 313,823 | 254,240 |
Level 1 [Member] | Cash and Equivalents [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 44,224 | 10,243 |
Level 1 [Member] | Total Cash and Cash-Equivalents [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 44,224 | 10,243 |
Level 1 [Member] | U.S. Government and Agency Securities [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 1,082 | |
Level 1 [Member] | Total Fixed Income [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 1,082 | |
Level 1 [Member] | Real Assets Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 24,653 | 24,151 |
Level 1 [Member] | Hancock Horizon Quantitative Long/ Short Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 5,620 | 5,603 |
Level 1 [Member] | Hancock Horizon Diversified International Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 73,478 | 62,750 |
Level 1 [Member] | Hancock Horizon Burkenroad Small Cap Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 9,129 | 9,296 |
Level 1 [Member] | Hancock Horizon Growth Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 29,447 | 26,469 |
Level 1 [Member] | Hancock Horizon Value Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 29,378 | 30,321 |
Level 1 [Member] | Equity Securities [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 97,894 | 84,325 |
Level 1 [Member] | Total Equity [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 244,946 | 218,764 |
Level 2 [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 153,184 | 164,962 |
Level 2 [Member] | U.S. Government and Agency Securities [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 11,192 | 14,436 |
Level 2 [Member] | Municipal Securities [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 31,190 | 33,980 |
Level 2 [Member] | Foreign Bonds Notes And Debentures [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 1,743 | 2,588 |
Level 2 [Member] | Hancock Horizon Core Bond Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 47,453 | 51,529 |
Level 2 [Member] | Corporate Debt Securities [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 61,481 | 62,429 |
Level 2 [Member] | Other Fixed Income Securities [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 125 | |
Level 2 [Member] | Total Fixed Income [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 153,184 | 164,962 |
Level 3 [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 24,543 | 19,506 |
Level 3 [Member] | Emerging Market Debt Fund [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 24,482 | 19,505 |
Level 3 [Member] | Other Fixed Income Securities [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 61 | |
Level 3 [Member] | Total Fixed Income [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | $ 24,543 | 19,505 |
Level 3 [Member] | Mineral Interests [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | 1 | |
Level 3 [Member] | Total Equity [Member] | ||
Fair Value Of Pension Plan Assets [Line Items] | ||
Fair value of pension plan assets | $ 1 |
Retirement Benefit Plans - Weig
Retirement Benefit Plans - Weighted Average Asset Allocations and Target Allocations (Detail) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
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 | 50.00% | 50.00% |
Target Allocation, minimum | 30.00% | 30.00% |
Target Allocation, maximum | 60.00% | 60.00% |
Total Fixed Income [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Plan Assets | 36.00% | 42.00% |
Target Allocation, minimum | 25.00% | 25.00% |
Target Allocation, maximum | 65.00% | 65.00% |
Real Assets Fund [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Plan Assets | 5.00% | 6.00% |
Target Allocation, minimum | 0.00% | 0.00% |
Target Allocation, maximum | 10.00% | 10.00% |
Cash Equivalents [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Plan Assets | 9.00% | 2.00% |
Target Allocation, minimum | 0.00% | 0.00% |
Target Allocation, maximum | 5.00% | 5.00% |
Share-Based Payment Arrangem100
Share-Based Payment Arrangements - Additional Information (Detail) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015USD ($)Bank$ / sharesshares | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Recognized stock-based compensation | $ | $ 12,900 | $ 14,000 | $ 13,100 |
Recognized tax benefit related to the share-based compensation | $ | $ 4,800 | 4,900 | 4,600 |
Percentage where a option price is equal to market price | 110.00% | ||
Term of option award vest, contractual term | 10 years | ||
Term of option award vest for continuous service | 5 years | ||
Intrinsic value of options exercised | $ | $ 20 | 400 | $ 600 |
Unrecognized compensation expense | $ | $ 45,800 | ||
Weighted-average period in years | 3 years 7 months 6 days | ||
Total fair value of shares vested | $ | $ 12,200 | $ 12,800 | |
Shareholder return period | 3 years | ||
Number of peer group of regional banks | Bank | 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 | shares | 59,312 | ||
Weighted average fair value of shares granted | $ / shares | $ 25.77 | ||
Percentage of maximum number of shares earned of target award | 200.00% | ||
2014 Long Term Incentive Plan [Member] | Stock Compensation 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 | shares | 1,796,357 | ||
Shares available for future issuance under equity compensation plans | shares | 1,300,000 | ||
Number of shares can be granted under long term incentive plan | shares | 100,000 | ||
2010 Employee Stock Purchase Plan [Member] | Stock Compensation Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares available for future issuance under equity compensation plans | shares | 143,940 |
Share-Based Payment Arrangem101
Share-Based Payment Arrangements - Schedule of Option Activity Under Stock Option Plans (Detail) $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($)$ / sharesshares | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Number of Shares, Outstanding at Beginning | shares | 939,393 |
Number of Shares, Exercised | shares | (11,577) |
Number of Shares, Cancelled/Forfeited | shares | (70,586) |
Number of Shares, Expired | shares | (111,424) |
Number of Shares, Outstanding at Ending | shares | 745,806 |
Number of Shares, Exercisable at Ending | shares | 675,880 |
Weighted- Average Exercise Price, Outstanding at Beginning | $ / shares | $ 37.21 |
Weighted- Average Exercise Price, Exercised | $ / shares | 29.94 |
Weighted- Average Exercise Price, Cancelled/Forfeited | $ / shares | 36.15 |
Weighted- Average Exercise Price, Expired | $ / shares | 34.79 |
Weighted- Average Exercise Price, Outstanding at Ending | $ / shares | 37.55 |
Weighted- Average Exercise Price, Exercisable at Ending | $ / shares | $ 38.35 |
Weighted-Average Remaining Contractual Term, Outstanding at Ending Balance (in years) | 3 years 7 months 6 days |
Weighted-Average Remaining Contractual Term, Exercisable at Ending Balance (in years) | 3 years 4 months 24 days |
Aggregate Intrinsic Value, Outstanding at Ending | $ | $ 0 |
Aggregate Intrinsic Value, Exercisable at Ending | $ | $ 0 |
Share-Based Payment Arrangem102
Share-Based Payment Arrangements - Schedule of Nonvested Restricted and Performance Shares (Detail) - Restricted Stock and Performance Shares [Member] | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Nonvested Share Activity [Line Items] | |
Number of Shares, Nonvested at Beginning | shares | 2,040,299 |
Number of Shares, Granted | shares | 715,622 |
Number of Shares, Vested | shares | (399,850) |
Number of Shares, Cancelled/Forfeited | shares | (159,926) |
Number of Shares, Nonvested at Ending | shares | 2,196,145 |
Weighted-Average Grant-Date Fair Value, Nonvested at Beginning | $ / shares | $ 32.27 |
Weighted-Average Grant-Date Fair Value, Granted | $ / shares | 28.40 |
Weighted-Average Grant-Date Fair Value, Vested | $ / shares | 32.40 |
Weighted-Average Grant-Date Fair Value, Cancelled/Forfeited | $ / shares | 32.54 |
Weighted-Average Grant-Date Fair Value, Nonvested at Ending | $ / shares | $ 30.97 |
Commitments and Contingencies -
Commitments and Contingencies - Summary of Obligations (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Letters of credit | $ 375,227 | $ 414,408 |
Commitments to extend credit [Member] | ||
Loss Contingencies [Line Items] | ||
Commitments to extend credit | $ 5,937,701 | $ 5,700,546 |
Commitments and Contingencie104
Commitments and Contingencies - Future Minimum Lease Payments for All Non-Cancelable Capital and Operating Leases (Detail) $ in Thousands | Dec. 31, 2015USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2,016 | $ 13,176 |
2,017 | 12,411 |
2,018 | 10,742 |
2,019 | 8,815 |
2,020 | 6,213 |
Thereafter | 23,134 |
Total minimum lease payments | $ 74,491 |
Commitments and Contingencie105
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | |||
Rental expense | $ 13.3 | $ 11.4 | $ 12.9 |
Fair Value of Financial Inst106
Fair Value of Financial Instruments - Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale debt securities | $ 2,090,647 | |
Available for sale equity securities | 2,757 | $ 9,553 |
Available for sale securities | 2,093,404 | 1,660,165 |
Derivative assets | 23,251 | 19,432 |
Total recurring fair value measurements - assets | 2,116,655 | 1,679,597 |
Derivative liabilities | 23,968 | 20,860 |
Total recurring fair value measurements - liabilities | 23,968 | 20,860 |
Municipal Obligations [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale debt securities | 39,607 | 14,176 |
Available for sale securities | 39,607 | 14,176 |
U.S. Treasury and Government Agency Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale debt securities | 134 | 300,508 |
Corporate Debt Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale debt securities | 3,500 | 3,500 |
Mortgage-Backed Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale debt securities | 1,758,373 | 1,245,564 |
Collateralized Mortgage Obligations [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale debt securities | 289,033 | 86,864 |
Level 1 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale equity securities | 2,757 | 9,553 |
Available for sale securities | 2,757 | 9,553 |
Total recurring fair value measurements - assets | 2,757 | 9,553 |
Level 2 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale securities | 2,090,647 | 1,650,612 |
Derivative assets | 23,251 | 19,432 |
Total recurring fair value measurements - assets | 2,113,898 | 1,670,044 |
Derivative liabilities | 23,968 | 20,860 |
Total recurring fair value measurements - liabilities | 23,968 | 20,860 |
Level 2 [Member] | Municipal Obligations [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale debt securities | 39,607 | 14,176 |
Level 2 [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 | 134 | 300,508 |
Level 2 [Member] | Corporate Debt Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale debt securities | 3,500 | 3,500 |
Level 2 [Member] | Mortgage-Backed Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale debt securities | 1,758,373 | 1,245,564 |
Level 2 [Member] | Collateralized Mortgage Obligations [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale debt securities | $ 289,033 | $ 86,864 |
Fair Value of Financial Inst107
Fair Value of Financial Instruments - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2015 | |
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 Inst108
Fair Value of Financial Instruments - Schedule of Financial Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Collateral dependent impaired loans | $ 93,602 | $ 30,204 |
Other real estate owned | 17,206 | 29,715 |
Total nonrecurring fair value measurements | 110,808 | 59,919 |
Level 2 [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Collateral dependent impaired loans | 93,602 | 30,204 |
Total nonrecurring fair value measurements | 93,602 | 30,204 |
Level 3 [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Other real estate owned | 17,206 | 29,715 |
Total nonrecurring fair value measurements | $ 17,206 | $ 29,715 |
Fair Value of Financial Inst109
Fair Value of Financial Instruments - Schedule of Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Available for sale securities | $ 2,093,404 | $ 1,660,165 |
Held to maturity securities | 2,370,388 | 2,166,289 |
Loans, net | 15,522,135 | 13,766,514 |
Loans held for sale | 20,434 | 20,252 |
Derivative financial instruments | 23,251 | 19,432 |
Deposits | 18,348,912 | 16,572,831 |
Long-term debt | 495,999 | 374,371 |
Derivative financial instruments | 23,968 | 20,860 |
Level 1 [Member] | ||
Cash, interest-bearing bank deposits, and federal funds sold | 869,429 | 1,159,403 |
Available for sale securities | 2,757 | 9,553 |
Federal funds purchased | 10,100 | 12,000 |
Securities sold under agreements to repurchase | 513,544 | 624,573 |
FHLB Borrowings | 900,000 | 515,000 |
Level 2 [Member] | ||
Available for sale securities | 2,090,647 | 1,650,612 |
Held to maturity securities | 2,375,851 | 2,186,340 |
Loans, net | 93,602 | 30,204 |
Loans held for sale | 20,434 | 20,252 |
Derivative financial instruments | 23,251 | 19,432 |
Long-term debt | 494,565 | 346,379 |
Derivative financial instruments | 23,968 | 20,860 |
Level 3 [Member] | ||
Loans, net | 15,334,201 | 13,672,427 |
Deposits | 18,327,425 | 16,398,878 |
Total Fair Value [Member] | ||
Cash, interest-bearing bank deposits, and federal funds sold | 869,429 | 1,159,403 |
Available for sale securities | 2,093,404 | 1,660,165 |
Held to maturity securities | 2,375,851 | 2,186,340 |
Loans, net | 15,427,803 | 13,702,631 |
Loans held for sale | 20,434 | 20,252 |
Derivative financial instruments | 23,251 | 19,432 |
Deposits | 18,327,425 | 16,398,878 |
Federal funds purchased | 10,100 | 12,000 |
Securities sold under agreements to repurchase | 513,544 | 624,573 |
FHLB Borrowings | 900,000 | 515,000 |
Long-term debt | 494,565 | 346,379 |
Derivative financial instruments | 23,968 | 20,860 |
Carrying Amount [Member] | ||
Cash, interest-bearing bank deposits, and federal funds sold | 869,429 | 1,159,403 |
Available for sale securities | 2,093,404 | 1,660,165 |
Held to maturity securities | 2,370,388 | 2,166,289 |
Loans, net | 15,522,135 | 13,766,514 |
Loans held for sale | 20,434 | 20,252 |
Derivative financial instruments | 23,251 | 19,432 |
Deposits | 18,348,912 | 16,572,831 |
Federal funds purchased | 10,100 | 12,000 |
Securities sold under agreements to repurchase | 513,544 | 624,573 |
FHLB Borrowings | 900,000 | 515,000 |
Long-term debt | 495,999 | 374,371 |
Derivative financial instruments | $ 23,968 | $ 20,860 |
Condensed Parent Company Inf110
Condensed Parent Company Information - Condensed Balance Sheets (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Assets: | ||||
Securities available for sale | $ 2,093,404 | $ 1,660,165 | ||
Total assets | 22,839,459 | 20,747,266 | ||
Liabilities and Stockholders' Equity: | ||||
Long term debt | 495,999 | 374,371 | ||
Other liabilities | 151,152 | 171,885 | ||
Stockholders' equity | 2,413,143 | 2,472,402 | $ 2,425,069 | $ 2,453,278 |
Total liabilities and stockholders' equity | 22,839,459 | 20,747,266 | ||
Hancock [Member] | ||||
Assets: | ||||
Cash | 36,364 | 44,771 | ||
Securities available for sale | 83,835 | 97,423 | ||
Investment in bank subsidiaries | 2,534,299 | 2,452,529 | ||
Investment in non-bank subsidiaries | 3,051 | 3,202 | ||
Due from subsidiaries and other assets | 31,168 | 24,896 | ||
Total assets | 2,688,717 | 2,622,821 | ||
Liabilities and Stockholders' Equity: | ||||
Long term debt | 275,000 | 149,600 | ||
Other liabilities | 574 | 819 | ||
Stockholders' equity | 2,413,143 | 2,472,402 | ||
Total liabilities and stockholders' equity | $ 2,688,717 | $ 2,622,821 |
Condensed Parent Company Inf111
Condensed Parent Company Information - Condensed Statements of Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating Income From subsidiaries | |||
Income tax benefit | $ 38,304 | $ 66,465 | $ 52,510 |
Net income | 131,461 | 175,722 | 163,356 |
Hancock [Member] | |||
Operating Income From subsidiaries | |||
Cash dividends received from bank subsidiaries | 31,000 | 124,000 | 249,000 |
Dividends received from non-bank subsidiaries | 2,990 | ||
Equity in earnings of subsidiaries greater than (less than) dividends received | 111,424 | 58,358 | (82,203) |
Total operating income | 142,424 | 182,358 | 169,787 |
Other expense, net | (17,297) | (10,035) | (10,335) |
Income tax benefit | (6,334) | (3,399) | (3,904) |
Net income | $ 131,461 | $ 175,722 | $ 163,356 |
Condensed Parent Company Inf112
Condensed Parent Company Information - Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Condensed Financial Statements, Captions [Line Items] | |||
Net cash provided by operating activities | $ 232,345 | $ 352,428 | $ 473,532 |
Cash flows from investing activities | |||
Proceeds from principal paydowns of securities available for sale | 9,289 | 1,455 | 178 |
Other, net | 7,645 | (3,986) | 10,911 |
Net cash provided by (used in) investing activities | (2,276,431) | (1,910,459) | (4,497) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Proceeds from issuance of long term debt | 273,565 | 21,000 | 24,515 |
Repayment of long term debt | (157,933) | (35,360) | (35,278) |
Dividends paid to stockholders | (77,013) | (80,392) | (81,212) |
Net cash provided by (used in) financing activities | 1,991,505 | 1,566,046 | (569,086) |
Net (decrease) increase in cash | (52,581) | 8,015 | (100,051) |
CASH AND DUE FROM BANKS, BEGINNING | 356,455 | 348,440 | 448,491 |
CASH AND DUE FROM BANKS, ENDING | 303,874 | 356,455 | 348,440 |
Hancock [Member] | |||
Condensed Financial Statements, Captions [Line Items] | |||
Cash flows from operating activities - principally dividends received from subsidiaries | 30,527 | 126,491 | 257,251 |
Net cash provided by operating activities | 30,527 | 126,491 | 257,251 |
Cash flows from investing activities | |||
Contribution of capital to subsidiary | (90) | (870) | |
Proceeds from principal paydowns of securities available for sale | 12,863 | 12,664 | 18,685 |
Other, net | 1,629 | (5,630) | |
Net cash provided by (used in) investing activities | 14,402 | 12,664 | 12,185 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Proceeds from issuance of long term debt | 269,004 | ||
Repayment of long term debt | (149,600) | (35,200) | (35,200) |
Dividends paid to stockholders | (77,474) | (80,392) | (81,673) |
Stock transactions, net | (95,266) | (45,130) | (112,266) |
Net cash provided by (used in) financing activities | (53,336) | (160,722) | (229,139) |
Net (decrease) increase in cash | (8,407) | (21,567) | 40,297 |
CASH AND DUE FROM BANKS, BEGINNING | 44,771 | 66,338 | 26,041 |
CASH AND DUE FROM BANKS, ENDING | $ 36,364 | $ 44,771 | $ 66,338 |