Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Jun. 28, 2013 | Feb. 26, 2014 | Feb. 26, 2014 | |
Class A Common Stock | Class B Common Stock | |||
Entity Registrant Name | 'FIRST CITIZENS BANCSHARES INC /DE/ | ' | ' | ' |
Entity Central Index Key | '0000798941 | ' | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' | ' |
Document Type | '10-K | ' | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | ' | 8,586,058 | 1,032,883 |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' | ' |
Entity Voluntary Filers | 'No | ' | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' | ' |
Entity Public Float | ' | $1,199,498,891 | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $533,599 | $639,730 |
Overnight investments | 859,324 | 443,180 |
Investment securities available for sale | 5,387,703 | 5,226,228 |
Investment securities held to maturity | 907 | 1,342 |
Loans held for sale | 47,271 | 86,333 |
Loans and leases: | ' | ' |
Acquired | 1,029,426 | 1,809,235 |
Originated | 12,104,298 | 11,576,115 |
Less allowance for loan and lease losses | 233,394 | 319,018 |
Net loans and leases | 12,900,330 | 13,066,332 |
Premises and equipment | 876,522 | 882,768 |
Other real estate owned: | ' | ' |
Covered under loss share agreements in other real estate owned | 47,081 | 102,577 |
Real Estate Acquired Through Foreclosure | 36,898 | 43,513 |
Income earned not collected | 48,390 | 47,666 |
Receivable from FDIC for loss share agreements | 93,397 | 270,192 |
Goodwill | 102,625 | 102,625 |
Other intangible assets | 1,247 | 3,556 |
Other assets | 263,797 | 367,610 |
Total assets | 21,199,091 | 21,283,652 |
Liabilities | ' | ' |
Noninterest-bearing | 5,241,817 | 4,885,700 |
Interest-bearing | 12,632,249 | 13,200,325 |
Total deposits | 17,874,066 | 18,086,025 |
Debt, Current | 511,418 | 568,505 |
Long-term obligations | 510,769 | 444,921 |
Payable to FDIC for loss share agreements | 109,378 | 101,641 |
Other liabilities | 116,785 | 218,553 |
Total liabilities | 19,122,416 | 19,419,645 |
Shareholders' Equity | ' | ' |
Surplus | 143,766 | 143,766 |
Retained earnings | 1,948,558 | 1,792,726 |
Accumulated other comprehensive loss | -25,268 | -82,106 |
Total shareholders' equity | 2,076,675 | 1,864,007 |
Total liabilities and shareholders' equity | 21,199,091 | 21,283,652 |
Class A Common Stock | ' | ' |
Shareholders' Equity | ' | ' |
Common stock | 8,586 | 8,588 |
Class B Common Stock | ' | ' |
Shareholders' Equity | ' | ' |
Common stock | $1,033 | $1,033 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Class A Common Stock | ' | ' |
Common stock, par value (in dollars per share) | $1 | $1 |
Common stock, shared authorized | 11,000,000 | 11,000,000 |
Common stock, shares issued | 8,586,058 | 8,588,031 |
Common stock, shares outstanding | 8,586,058 | 8,588,031 |
Class B Common Stock | ' | ' |
Common stock, par value (in dollars per share) | $1 | $1 |
Common stock, shared authorized | 2,000,000 | 2,000,000 |
Common stock, shares issued | 1,032,883 | 1,032,883 |
Common stock, shares outstanding | 1,032,883 | 1,032,883 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest income | ' | ' | ' |
Loans and leases | $757,197 | $967,601 | $967,737 |
Investment securities: | ' | ' | ' |
U. S. Treasury | 1,645 | 2,471 | 8,248 |
Government agency | 12,265 | 15,688 | 19,848 |
Residential mortgage-backed securities | 22,642 | 14,388 | 9,235 |
Corporate bonds | 0 | 2,574 | 7,975 |
State, county and municipal | 12 | 36 | 174 |
Other | 320 | 340 | 548 |
Total investment securities interest and dividend income | 36,884 | 35,497 | 46,028 |
Overnight investments | 2,723 | 1,738 | 1,394 |
Total interest income | 796,804 | 1,004,836 | 1,015,159 |
Interest expense | ' | ' | ' |
Deposits | 34,495 | 57,568 | 101,888 |
Short-term borrowings | 2,724 | 5,107 | 5,993 |
Long-term obligations | 19,399 | 27,473 | 36,311 |
Total interest expense | 56,618 | 90,148 | 144,192 |
Net interest income (loss) | 740,186 | 914,688 | 870,967 |
Provision for loan and lease losses | -32,255 | 142,885 | 232,277 |
Net interest income after provision for loan and lease losses | 772,441 | 771,803 | 638,690 |
Noninterest income | ' | ' | ' |
Gains on acquisitions | 0 | 0 | 150,417 |
Cardholder and merchant services | 48,360 | 45,174 | 56,279 |
Merchant Discount Fees | 56,024 | 50,298 | 54,543 |
Service charges on deposit accounts | 60,661 | 61,564 | 63,775 |
Wealth management services | 59,628 | 57,236 | 54,974 |
Fees from processing services | 22,821 | 34,816 | 30,487 |
Securities gains (losses) | 0 | 2,277 | -288 |
Other service charges and fees | 15,696 | 14,239 | 22,647 |
Mortgage income | 11,065 | 8,072 | 6,597 |
Insurance commissions | 10,694 | 9,974 | 9,165 |
ATM income | 5,026 | 5,279 | 6,020 |
Adjustments for FDIC receivable for loss share agreements | -72,342 | -101,594 | -19,305 |
Other | 45,970 | 1,965 | 29,055 |
Total noninterest income | 263,603 | 189,300 | 464,366 |
Noninterest expense | ' | ' | ' |
Salaries and wages | 308,941 | 307,331 | 308,088 |
Employee benefits | 90,479 | 78,861 | 72,526 |
Occupancy expense | 75,718 | 74,798 | 74,832 |
Equipment expense | 75,545 | 74,822 | 69,951 |
FDIC insurance expense | 10,175 | 10,656 | 16,459 |
Foreclosure-related expenses | 17,134 | 40,654 | 46,133 |
Other | 193,388 | 179,811 | 204,936 |
Total noninterest expense | 771,380 | 766,933 | 792,925 |
Income before income taxes | 264,664 | 194,170 | 310,131 |
Income taxes | 96,965 | 59,822 | 115,103 |
Income taxes | 49,076 | 95,087 | 131,740 |
Net income | $167,699 | $134,348 | $195,028 |
Average shares outstanding (in shares) | 9,618,952 | 10,244,472 | 10,376,445 |
Cash dividends (in dollars per share) | $1.20 | $1.20 | $1.20 |
Net income per share | $17.43 | $13.11 | $18.80 |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $167,699 | $134,348 | $195,028 |
Unrealized gains and losses on securities: | ' | ' | ' |
Change in unrealized securities gains (losses) arising during period | -50,441 | 9,566 | 3,108 |
Deferred tax benefit (expense) | 19,833 | -3,759 | -1,148 |
Reclassification adjustment for losses (gains) included in income before income taxes | 0 | -2,322 | 262 |
Deferred tax expense (benefit) | 0 | 917 | -159 |
Total change in unrealized gains (losses) on securities, net of tax | -30,608 | 4,402 | 2,063 |
Change in fair value of cash flow hedges: | ' | ' | ' |
Change in unrecognized loss on cash flow hedges | -103 | -2,779 | -8,329 |
Deferred tax benefit | 43 | 1,097 | 3,289 |
Reclassification adjustment for losses included in income before income taxes | 3,281 | 3,095 | 7,107 |
Deferred tax benefit | -1,363 | -1,222 | -2,806 |
Total change in unrecognized loss on cash flow hedges, net of tax | 1,858 | 191 | -739 |
Change in pension obligation: | ' | ' | ' |
Change in pension obligation | 123,557 | -44,315 | -58,630 |
Deferred tax benefit (expense) | -48,475 | 17,354 | 22,959 |
Reclassification adjustment for losses included in income before income taxes | 17,195 | 11,236 | 7,071 |
Deferred tax benefit | -6,689 | -4,400 | -2,769 |
Total change in pension obligation, net of tax | 85,588 | -20,125 | -31,369 |
Net current period other comprehensive income (loss) | 56,838 | -15,532 | -30,045 |
Total comprehensive income | $224,537 | $118,816 | $164,983 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes In Shareholders' Equity (USD $) | Total | Class A Common Stock | Class B Common Stock | Common Stock | Common Stock | Surplus | Surplus | Surplus | Retained Earnings | Retained Earnings | Retained Earnings | Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss |
In Thousands, unless otherwise specified | Class A Common Stock | Class B Common Stock | Class A Common Stock | Class B Common Stock | Class A Common Stock | Class B Common Stock | Class A Common Stock | Class B Common Stock | ||||||
Beginning balance at Dec. 31, 2010 | $1,732,962 | ' | ' | $8,757 | $1,678 | $143,766 | ' | ' | $1,615,290 | ' | ' | ($36,529) | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 195,028 | ' | ' | 0 | 0 | 0 | ' | ' | 195,028 | ' | ' | 0 | ' | ' |
Net current period other comprehensive income | -30,045 | ' | ' | 0 | 0 | 0 | ' | ' | 0 | ' | ' | -30,045 | ' | ' |
Repurchase of common stock shares | ' | -16,785 | -7,602 | -113 | -38 | ' | 0 | 0 | ' | -16,672 | -7,564 | ' | 0 | 0 |
Cash dividends | -12,430 | ' | ' | 0 | 0 | 0 | ' | ' | -12,430 | ' | ' | 0 | ' | ' |
Ending balance at Dec. 31, 2011 | 1,861,128 | ' | ' | 8,644 | 1,640 | 143,766 | ' | ' | 1,773,652 | ' | ' | -66,574 | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 134,348 | ' | ' | 0 | 0 | 0 | ' | ' | 134,348 | ' | ' | 0 | ' | ' |
Net current period other comprehensive income | -15,532 | ' | ' | 0 | 0 | 0 | ' | ' | 0 | ' | ' | -15,532 | ' | ' |
Repurchase of common stock shares | ' | -9,131 | -94,493 | -56 | -607 | ' | 0 | 0 | ' | -9,075 | -93,886 | ' | 0 | 0 |
Cash dividends | -12,313 | ' | ' | 0 | 0 | 0 | ' | ' | -12,313 | ' | ' | 0 | ' | ' |
Ending balance at Dec. 31, 2012 | 1,864,007 | ' | ' | 8,588 | 1,033 | 143,766 | ' | ' | 1,792,726 | ' | ' | -82,106 | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 167,699 | ' | ' | 0 | 0 | 0 | ' | ' | 167,699 | ' | ' | 0 | ' | ' |
Net current period other comprehensive income | 56,838 | ' | ' | 0 | 0 | 0 | ' | ' | 0 | ' | ' | 56,838 | ' | ' |
Repurchase of common stock shares | ' | -321 | ' | -2 | ' | ' | 0 | ' | ' | -319 | ' | ' | 0 | ' |
Cash dividends | -11,548 | ' | ' | 0 | 0 | 0 | ' | ' | -11,548 | ' | ' | 0 | ' | ' |
Ending balance at Dec. 31, 2013 | $2,076,675 | ' | ' | $8,586 | $1,033 | $143,766 | ' | ' | $1,948,558 | ' | ' | ($25,268) | ' | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes In Shareholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Statement of Stockholders' Equity [Abstract] | ' | ' | ' |
Stock Repurchased During Period, Shares | 0 | ' | ' |
Cash dividends (in dollars per share) | $1.20 | $1.20 | $1.20 |
Class A Common Stock | ' | ' | ' |
Statement of Stockholders' Equity [Abstract] | ' | ' | ' |
Stock Repurchased During Period, Shares | ' | 56,276 | ' |
Class B Common Stock | ' | ' | ' |
Statement of Stockholders' Equity [Abstract] | ' | ' | ' |
Stock Repurchased During Period, Shares | 0 | 100 | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
OPERATING ACTIVITIES | ' | ' | ' | |
Net income | $167,699 | $134,348 | $195,028 | |
Adjustments to reconcile net income to cash provided by operating activities: | ' | ' | ' | |
Provision for loan and lease losses | -32,255 | 142,885 | 232,277 | |
Deferred tax expense (benefit) | 47,889 | -35,265 | -16,637 | |
Change in current taxes payable | -79,173 | 29,095 | -2,820 | |
Depreciation | 70,841 | 68,941 | 65,170 | |
Change in accrued interest payable | -2,616 | -14,366 | -14,340 | |
Change in income earned not collected | -724 | -5,450 | 48,423 | |
Business Combination, Bargain Purchase, Gain Recognized, Amount | 0 | 0 | -150,417 | |
Gain on sale of other assets | -4,085 | 0 | 0 | |
Securities losses (gains) | 0 | -2,277 | 288 | |
Origination of loans held for sale | -393,908 | -575,705 | -513,253 | |
Proceeds from sale of loans held for sale | 443,708 | 589,376 | 518,398 | |
Gain on sale of loans | -10,738 | -7,465 | -8,751 | |
Loss on sale of other real estate | 6,686 | 36,229 | 53,450 | |
Gain on retirement of long-term obligations | 0 | 0 | -9,685 | |
Net amortization of premiums and discounts | -115,060 | -158,227 | -194,434 | |
FDIC receivable for loss share agreements | 71,771 | -7,181 | 44,551 | |
Net change in other assets | 103,974 | -17,617 | 89,979 | |
Net change in other liabilities | 56,998 | 23,967 | -1,541 | |
Net cash provided by operating activities | 331,007 | 201,288 | 335,686 | |
INVESTING ACTIVITIES | ' | ' | ' | |
Net change in loans outstanding | 323,436 | 627,806 | 473,974 | |
Purchases of investment securities available for sale | -2,671,420 | -5,169,641 | -3,480,699 | |
Proceeds from maturities of investment securities held to maturity | 435 | 480 | 709 | |
Proceeds from maturities of investment securities available for sale | 2,437,851 | 3,986,370 | 4,002,724 | |
Proceeds from sales of investment securities available for sale | 0 | 7,900 | 242,023 | |
Net change in overnight investments | -416,144 | -8,205 | -36,585 | |
Cash received from the FDIC for loss share agreements | 19,373 | 251,972 | 293,067 | |
Proceeds from Sale of Other Real Estate | 147,550 | 147,858 | 135,803 | |
Additions to premises and equipment | -66,037 | -88,883 | -76,901 | |
Cash Acquired from Acquisition | 0 | 0 | 1,150,879 | |
Net cash (used) provided by investing activities | -224,956 | -244,343 | 2,704,994 | |
FINANCING ACTIVITIES | ' | ' | ' | |
Net change in time deposits | -699,005 | -1,049,761 | -2,273,418 | |
Net change in demand and other interest-bearing deposits | 487,046 | 1,558,512 | 4,417 | |
Net change in short-term borrowings | -57,087 | -101,717 | -283,440 | |
Repayment of long-term obligations | -4,152 | -196,338 | -320,730 | |
Origination of long-term obligations | 70,000 | 310 | 0 | |
Repurchase of common stock | -321 | -103,624 | -24,387 | |
Cash dividends paid | -8,663 | -15,398 | -12,499 | |
Net cash provided (used) by financing activities | -212,182 | 91,984 | -2,910,057 | |
Change in cash and due from banks | -106,131 | 48,929 | 130,623 | |
Cash and due from banks at beginning of period | 639,730 | 590,801 | 460,178 | |
Cash and due from banks at end of period | 533,599 | 639,730 | 590,801 | |
CASH PAYMENTS FOR: | ' | ' | ' | |
Interest | 59,234 | 104,514 | 157,477 | |
Income taxes | 102,890 | 66,453 | 91,465 | |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ' | ' | ' | |
Change in unrealized securities gains (losses) | -50,441 | 7,244 | 3,370 | |
Change in fair value of cash flow hedge | 3,178 | 316 | -1,222 | |
Change in pension obligation | 140,752 | -33,079 | -51,559 | |
Transfers of loans to other real estate | 92,125 | 140,645 | 213,195 | |
Dividends Declared but not Paid | 2,885 | 0 | 0 | |
Reclassification | 7,368 | [1] | 0 | 0 |
Assets acquired | 0 | 0 | 2,934,464 | |
Liabilities assumed | 0 | 0 | 2,784,047 | |
Net assets acquired | $0 | $0 | $150,417 | |
[1] | Reclassification results from enhancements to the ALLL calculation during the second quarter of 2013 that resulted in the allocation of $15.8 million previously designated as 'nonspecific' to other loan classes and the absorption of $7.4 million of the reserve for unfunded commitments related to unfunded, revocable loan commitments into the ALLL. Further discussion is contained in Note A. |
Accounting_Policies_and_Basis_
Accounting Policies and Basis of Presentation | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Accounting Policies and Basis of Presentation | ' | |
ACCOUNTING POLICIES AND BASIS OF PRESENTATION | ||
General | ||
First Citizens BancShares, Inc. (BancShares) is a financial holding company organized under the laws of Delaware and conducts operations through its banking subsidiary, First-Citizens Bank & Trust Company (FCB), which is headquartered in Raleigh, North Carolina. | ||
On January 1, 2014, FCB completed the merger of 1st Financial Services Corporation (1st Financial). The 1st Financial merger was accounted for under the acquisition method of accounting. The purchased assets, assumed liabilities and identifiable intangible assets were recorded at their acquisition date estimated fair values. Fair values are subject to refinement for up to one year after the closing date of the transaction as additional information regarding closing date fair values becomes available. See Note V for additional information regarding the 1st Financial merger. | ||
The accounting and reporting policies of BancShares and its subsidiaries are in accordance with accounting principles generally accepted in the United States of America (GAAP). Additionally, where applicable, the policies conform to the accounting and reporting guidelines prescribed by bank regulatory authorities. The following is a summary of BancShares' more significant accounting policies. | ||
Nature of Operations | ||
FCB operates 397 branches in North Carolina, Virginia, West Virginia, Maryland, Tennessee, California, Washington, Florida, Washington, DC, Georgia, Texas, Arizona, New Mexico, Colorado, Oregon, Missouri, Oklahoma and Kansas. FCB provides full-service banking services designed to meet the needs of retail and commercial customers in the markets in which it operates. The services provided include transaction and savings deposit accounts, commercial and consumer loans, trust and asset management. Investment services, including sales of annuities and third party mutual funds are offered through First Citizens Investor Services, Inc., and title insurance is offered through Neuse Financial Services, Inc. | ||
Principles of Consolidation and Segment Reporting | ||
The consolidated financial statements of BancShares include the accounts of BancShares and those subsidiaries that are majority owned by BancShares and over which BancShares exercises control. In consolidation, all significant intercompany accounts and transactions are eliminated. The results of operations of companies or assets acquired are included only from the dates of acquisition. All material wholly-owned and majority-owned subsidiaries are consolidated unless GAAP requires otherwise. | ||
On January 7, 2011, IronStone Bank (ISB), a federally-chartered thrift institution and wholly-owned subsidiary of BancShares, was legally merged into FCB resulting in a single banking subsidiary of BancShares. Prior to the January 2011 merger, FCB and ISB were considered to be distinct operating segments. As a result of the merger and various organizational changes resulting from the merger, there is no longer a focus on the discrete financial measures of each entity, and, based on application of GAAP, no other reportable operating segments exist. Therefore, BancShares now operates as one reportable segment. | ||
FCB has investments in certain low income housing tax credit and renewable energy LLCs that have been evaluated and determined to be variable interest entities (VIEs). VIEs are legal entities in which equity investors do not have sufficient equity at risk for the entity to independently finance its activities, or as a group, the holders of the equity investment at risk lack the power through voting or similar rights to direct the activities of the entity that most significantly impact its economic performance, or do not have the obligation to absorb the expected losses of the entity or the right to receive expected residual returns of the entity. Consolidation of a VIE is considered appropriate if a reporting entity holds a controlling financial interest in the VIE. Analysis of these investments concluded that FCB is not the primary beneficiary and does not hold a controlling interest in the VIEs and, therefore, the assets and liabilities of these partnerships are not consolidated into the financial statements of FCB or BancShares. The recorded investment in these partnerships is reported within other assets in BancShares' Consolidated Balance Sheets. | ||
Reclassifications | ||
In certain instances, amounts reported in prior years' consolidated financial statements have been reclassified to conform to the current financial statement presentation. Such reclassifications had no effect on previously reported cash flows, shareholders' equity or net income. | ||
During the third quarter of 2013, management reevaluated its fair value leveling methodology and the inputs utilized by the 3rd party pricing services for the current and prior periods. Management concluded that due to the reliance on significant observable inputs, the fair values of its US Treasury, Government agency and other securities should be classified as level 2 rather than the level 1 previously disclosed. Management also concluded that its equity securities should be classified as level 2 rather than the level 1 previously disclosed due to the inactive nature of the markets in which these securities trade. | ||
Use of Estimates in the Preparation of Financial Statements | ||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates, and different assumptions in the application of these policies could result in material changes in BancShares' consolidated financial position, the consolidated results of its operations or related disclosures. Material estimates that are particularly susceptible to significant change include: | ||
• | Allowance for loan and lease losses | |
• | Fair value of financial instruments, including acquired assets and assumed liabilities | |
• | Pension plan assumptions | |
• | Cash flow estimates on acquired loans | |
• | Receivable from and payable to the FDIC for loss share agreements | |
• | Income tax assets, liabilities and expense | |
Business Combinations | ||
BancShares accounts for all business combinations using the acquisition method of accounting as required by Accounting Standards Codification (ASC) Topic 805, Business Combinations. Under this method of accounting, acquired assets and assumed liabilities are included with the acquirer's accounts as of the date of acquisition, with any excess of purchase price over the fair value of the net assets acquired (including identifiable core deposit intangibles (CDI)) capitalized as goodwill. The CDI asset is recognized as an asset apart from goodwill when it arises from contractual or other legal rights or if it is capable of being separated or divided from the acquired entity and sold, transferred, licensed, rented or exchanged. In addition, acquisition-related costs and restructuring costs are recognized as period expenses as incurred. | ||
The acquired assets and assumed liabilities are recorded at estimated fair values. Management makes significant estimates and exercises significant judgment in accounting for business combinations. Management judgmentally assigns risk ratings to loans based on credit quality, appraisals and estimated collateral values, and estimated expected cash flows to measure fair values for loans. Other real estate (OREO) is valued based upon pending sales contracts and appraised values, adjusted for current market conditions. CDI is valued based on a weighted combination of the income and market approach where the income approach converts anticipated economic benefits to a present value and the market approach evaluates the market in which the asset is traded to find an indication of prices from actual transactions. Management uses quoted or current market prices to determine the fair value of investment securities. Fair values of deposits, short-term borrowings and long-term obligations are based on current market interest rates and are inclusive of any applicable prepayment penalties. | ||
Cash and Cash Equivalents | ||
Cash and cash equivalents include cash and due from banks, interest-bearing deposits with banks and Federal funds sold. Cash and cash equivalents have maturities of three months or less. Accordingly, the carrying amount of such instruments is considered a reasonable estimate of fair value. | ||
Investment Securities | ||
BancShares' investments consist of government agency securities, U.S. Treasury securities, mortgage-backed securities, corporate bonds, state, county and municipal obligations and equity securities. | ||
BancShares classifies marketable investment securities as held to maturity, available for sale or trading. Interest income and dividends on securities are recognized in interest income on an accrual basis. Premiums and discounts on debt securities are amortized as an adjustment to interest income using the interest method. At December 31, 2013, and 2012, BancShares had no investment securities held for trading purposes. | ||
Debt securities are classified as held to maturity where BancShares has both the intent and ability to hold the securities to maturity. These securities are reported at amortized cost. | ||
Investment securities that may be sold to meet liquidity needs arising from unanticipated deposit and loan fluctuations, changes in regulatory capital requirements or unforeseen changes in market conditions, are classified as available for sale. Securities available for sale are reported at estimated fair value, with unrealized gains and losses reported in accumulated other comprehensive income or loss, net of deferred income taxes, in the shareholders' equity section of the Consolidated Balance Sheets. Gains or losses realized from the sale of securities available for sale are determined by specific identification and are included in noninterest income. As of December 31, 2013, there was no intent to sell any of the securities classified as available for sale. | ||
BancShares evaluates each held to maturity and available for sale security in a loss position for other-than-temporary impairment (OTTI) in accordance with ASC Topic 320-10, Investments - Debt and Equity Securities, at least quarterly. BancShares considers such factors as the length of time and the extent to which the market value has been below amortized cost, long term expectations and recent experience regarding principal and interest payments, BancShares' intent to sell, and whether it is more likely than not that it would be required to sell those securities before the anticipated recovery of the amortized cost basis. The credit component of an OTTI loss is recognized in earnings and the non-credit component is recognized in accumulated other comprehensive income in situations where BancShares does not intend to sell the security, and it is more likely than not that BancShares will not be required to sell the security prior to recovery. | ||
Nonmarketable Securities - FHLB Stock and TARP Stock | ||
Federal law requires a member institution of the Federal Home Loan Bank (FHLB) system to purchase and hold restricted stock of its district FHLB according to a predetermined formula. This stock is restricted in that it may only be sold to the FHLB and all sales must be at par. Accordingly, the FHLB restricted stock is carried at cost, less any applicable impairment charges. | ||
Investments in preferred stock that had initially been issued under the U. S. Treasury's Troubled Asset Recovery Program (TARP) and were purchased in the auction process initiated when the U. S. Treasury decided to liquidate its investments are carried at cost, less any applicable impairment charges, because the securities are not traded and an active market does not exist. Nonmarketable securities are periodically evaluated for impairment. BancShares considers positive and negative evidence, including the profitability and asset quality of the issuer, dividend payment history and recent redemption experience when determining the ultimate recoverability of the recorded investment. Investments in FHLB stock and TARP stock are included in other assets. | ||
Loans Held For Sale | ||
BancShares accounts for new originations of prime residential mortgage loans at the lower of aggregate cost or fair value. Gains and losses on sales of mortgage loans are charged to the Consolidated Statements of Income in mortgage income. | ||
Loans and Leases | ||
BancShares' accounting methods for loans and leases differ depending on whether they are originated or acquired, and if acquired, whether or not the acquired assets reflect credit deterioration since the date of origination such that it is probable at the date of acquisition that BancShares will be unable to collect all contractually required payments. | ||
Originated Loans and Leases | ||
Loans and leases for which management has the intent and ability to hold for the foreseeable future are classified as held for investment and carried at the principal amount outstanding net of any unearned income, charge-offs and unamortized fees and costs on originated loans. Nonrefundable fees collected and certain direct costs incurred related to loan originations are deferred and recorded as an adjustment to loans and leases outstanding. The net amount of the nonrefundable fees and costs are amortized to interest income over the contractual lives using methods that approximate a constant yield. | ||
Acquired Loans and Leases | ||
Acquired loans and leases are recorded at fair value at the date of acquisition. No allowance for loan and lease losses is recorded on the acquisition date as the fair value of the acquired assets incorporates assumptions regarding credit risk. | ||
Acquired loans and leases are evaluated at acquisition and where a discount is noted at least in part due to credit, the loans are accounted for under the guidance in ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality. Purchased impaired loans and leases reflect credit deterioration since origination such that it is probable at acquisition that BancShares will be unable to collect all contractually required payments. As of the acquisition date, the difference between contractually required payments and the cash flows expected to be collected is the nonaccretable difference, which is included as a reduction to the carrying amount of acquired loans and leases. If the timing and amount of the future cash flows is reasonably estimable, any excess of cash flows expected at acquisition over the estimated fair value is the accretable yield and is recognized in interest income over the asset's remaining life using a level yield method. | ||
Over the life of acquired loans and leases, BancShares continues to estimate cash flows expected to be collected on individual loans and leases or on pools of loans and leases sharing common risk characteristics. BancShares evaluates at each balance sheet date whether the estimated cash flows and corresponding present value of its loans and leases determined using the effective interest rates has decreased and if so, recognizes provision for loan and lease losses in its Consolidated Statements of Income. For any increases in cash flows expected to be collected, BancShares adjusts any prior recorded allowance for loan and lease losses first, and then the amount of accretable yield recognized on a prospective basis over the loan's or pool's remaining life. | ||
Accretion income is recognized on all non-pooled loans and leases except for situations when the timing and amount of future cash flows cannot be determined. Loans and leases with uncertain future cash flows are accounted for under the cost recovery method and those loans and leases are generally reported as nonaccrual. | ||
For loans and leases where the cash flow analysis was initially performed at the loan pool level, the amount of accretable yield and nonaccretable difference is determined at the pool level. Each loan pool is made up of assets with similar characteristics at the date of acquisition including loan type, collateral type and performance status. All loan pools that have accretable yield to be recognized in interest income are classified as accruing regardless of the status of individual loans within the pool. | ||
Impaired Loans, Troubled Debt Restructurings (TDR) and Nonperforming Assets | ||
Management will deem originated loans and leases to be impaired when, based on current information and events, it is probable that a borrower will be unable to pay all amounts due according to the contractual terms of the loan agreement. Generally, management considers the following loans to be impaired; all TDR loans, commercial and consumer relationships which are nonaccrual or 90+ days past due and greater than $500,000 as well as any other loan management deems impaired. Once a loan is considered impaired, it is required to be individually evaluated for impairment at least quarterly using discounted cash flows, observable market price or the fair value of collateral. When the ultimate collectability of an impaired loan's principal is doubtful, all cash receipts are applied to principal. Once the recorded principal balance has been reduced to zero, future cash receipts are applied to interest income, to the extent that any interest has been foregone. | ||
A loan is considered a TDR when a modification to a borrower's debt agreement is made and where a concession that is granted for economic or legal reasons related to a borrower's financial difficulties that otherwise would not be granted. TDRs are undertaken in order to improve the likelihood of collection on the loan and may result in a stated interest rate lower than the current market rate for new debt with similar risk, other modifications to the structure of the loan that fall outside of normal underwriting policies and procedures or, in certain limited circumstances, forgiveness of principal or interest. Modifications of acquired loans that are part of a pool accounted for as a single asset are not designated as TDRs. TDRs can involve loans remaining on nonaccrual, moving to nonaccrual or continuing on accruing status, depending on the individual facts and circumstances of the borrower. In circumstances where a portion of the loan balance is charged off, BancShares typically classifies the remaining balance as nonaccrual. | ||
In connection with commercial TDRs, the decision to maintain a loan that has been restructured on accrual status is based on a current credit evaluation of the borrower's financial condition and prospects for repayment under the modified terms. This evaluation includes consideration of the borrower's current capacity to pay, which may include a review of the borrower's current financial statements, an analysis of cash flow documenting the borrower's capacity to pay all debt obligations and an evaluation of secondary sources of payment from the borrower and any guarantors. This evaluation also includes an evaluation of the borrower's current willingness to pay, which may include a review of past payment history, an evaluation of the borrower's willingness to provide information on a timely basis and consideration of offers from the borrower to provide additional collateral or guarantor support. The credit evaluation also reflects consideration of the adequacy of collateral to cover all principal and interest and trends indicating improving profitability and collectability of receivables. | ||
Nonaccrual TDRs may be returned to accrual status based on a current credit evaluation of the borrower's financial condition and prospects for repayment under the modified terms. This evaluation includes consideration of the borrower's sustained historical repayment performance for a reasonable period, generally a minimum of six months, prior to the date on which the loan is returned to accrual status. Sustained historical repayment performance for a reasonable time prior to the restructuring may also be considered. | ||
Nonperforming assets include nonaccrual loans and leases and foreclosed property. Foreclosed property consists of real estate and other assets acquired as a result of loan defaults. | ||
BancShares classifies all originated loans and leases as past due when the payment of principal and interest based upon contractual terms is greater than 30 days delinquent. Generally, commercial loans are placed on nonaccrual status when principal or interest becomes 90 days past due or when it is probable that principal or interest is not fully collectible, whichever occurs first. Once a loan is placed on nonaccrual status it is evaluated for impairment and a charge-off is recorded in the amount of the impairment. Consumer loans are subject to mandatory charge-off at a specified delinquency date consistent with regulatory guidelines. | ||
Generally, when loans and leases are placed on nonaccrual status, accrued interest receivable that had been recognized in the current year is reversed against interest income; accrued interest receivable that had been recognized in a prior year is charged off. All payments received thereafter are applied as a reduction to the remaining principal balance as long as concern exists as to the ultimate collection of the principal. Loans and leases are generally removed from nonaccrual status when they become current as to both principal and interest and concern no longer exists as to the collectability of principal and interest. | ||
Noncovered OREO acquired as a result of foreclosure is carried at net realizable value. Net realizable value equals fair value less estimated selling costs. Any excess of cost over fair value at the time of foreclosure is charged to the allowance for loan and lease losses. Cost is determined based on the sum of unpaid principal, accrued but unpaid interest and acquisition costs associated with the loan. | ||
OREO are subject to periodic revaluations of the underlying collateral, at least annually. The periodic revaluations are generally based on the appraised value of the property and may include additional adjustments based upon management's review of the valuation and specific knowledge of the OREO. Routine maintenance costs, subsequent declines in market value and net losses on disposal are included in foreclosed property expense. Gains and losses resulting from the sale or writedown of OREO and income and expenses related to its operation are recorded in other noninterest income. | ||
OREO covered by loss share agreements with the FDIC is reported exclusive of expected reimbursement cash flows from the FDIC at net realizable value. Subsequent downward adjustments to the estimated recoverable value of covered OREO result in a reduction of covered OREO, a charge to foreclosure related expenses and an increase in the FDIC receivable for the estimated amount to be reimbursed, with a corresponding amount recorded as an adjustment to FDIC receivable. | ||
Covered Assets and Receivable from FDIC for Loss Share Agreements | ||
Assets subject to loss share agreements with the FDIC include certain acquired loans and OREO. These loss share agreements afford BancShares significant protection. The agreements cover realized losses on certain loans and other assets purchased from the FDIC during the time period specified in the agreements. Realized losses covered include loan contractual balances, accrued interest on loans for up to 90 days, the book value of foreclosed real estate acquired and certain direct costs, less cash or other consideration received by BancShares. | ||
The FDIC receivable is recorded at fair value at the acquisition date of the indemnified assets and is measured on the same basis as the underlying loans, subject to collectability or contractual limitations. The fair value of the loss share agreements on the acquisition date reflects the discounted reimbursements expected to be received from the FDIC, using an appropriate discount rate, which was based on the market rate for a similar term security at the time of the acquisition adjusted for additional risk premium. | ||
The loss share agreements continue to be measured on the same basis as the related indemnified assets. Because the acquired loans are subject to the accounting prescribed by ASC 310-30, subsequent changes to the basis of the loss share agreements also follow that model. Deterioration in the credit quality of the loans, which is immediately recorded as an adjustment to the allowance for loan losses, would immediately increase the FDIC receivable, with the offset recorded through the consolidated statement of income. Improvements in the credit quality or cash flows of loans, which is reflected as an adjustment to yield and accreted into income over the remaining life of the loans, decrease the FDIC receivable, with such decrease being amortized into income over (1) the same period as the underlying loans or (2) the life of the loss share agreements, whichever is shorter. Loss assumptions used in the basis of the indemnified loans are consistent with the loss assumptions used to measure the indemnification asset. Discounts and premiums reflecting the estimated timing of expected reimbursements is accreted into income over the life of the loss share agreements. | ||
Collection and other servicing costs related to loans covered under FDIC loss share agreements are charged to noninterest expense as incurred. A receivable from the FDIC is recorded for the estimated amount of such expenses that are expected to be reimbursed and results in an increase to noninterest income. The estimated amount of such reimbursements is determined by several factors including the existence of loan participation agreements with other financial institutions, the presence of partial guarantees from the Small Business Administration and whether a reimbursable loss has been recorded on the loan for which collection and servicing costs have been incurred. Future adjustments to the receivable from the FDIC may be necessary as additional information becomes available related to the amount of previously recorded collection and servicing costs that will actually be reimbursed by the FDIC and the probable timing of such reimbursements. | ||
Payable to the FDIC for Loss Share Agreements | ||
The purchase and assumption agreements for certain FDIC-assisted transactions include contingent payments that may be owed to the FDIC at the termination of the loss share agreements. The contingent payment is due to the FDIC if actual cumulative losses on acquired covered assets are lower than the cumulative losses originally estimated by the FDIC at the time of acquisition. The contingent liability, which is reported in the Consolidated Balance Sheets as a payable to the FDIC for loss share agreements, is calculated by discounting estimated future payments. The ultimate settlement amount of the contingent payment is dependent upon the performance of the underlying covered loans, the passage of time and actual claims submitted to the FDIC. | ||
Allowance for Loan and Lease Losses (ALLL) | ||
Originated Loans | ||
The ALLL represents management's best estimate of probable credit losses within the loan and lease portfolio at the balance sheet date. Management determines the ALLL based on an ongoing evaluation. This evaluation is inherently subjective because it requires material estimates, including the amount and timing of cash flows expected to be received on acquired loans. Those estimates are susceptible to significant change. Adjustments to the ALLL are recorded with a corresponding entry to provision for loan and lease losses. Loan and lease balances deemed to be uncollectible are charged off against the ALLL. Recoveries of amounts previously charged off are generally credited to the ALLL. | ||
Accounting standards require the presentation of certain information at the portfolio segment level, which represents the level at which an entity develops and documents a systematic methodology to determine its ALLL. BancShares evaluates its loan and lease portfolio using three portfolio segments: originated commercial, originated noncommercial and acquired. The originated commercial segment includes commercial construction and land development, commercial mortgage, commercial and industrial, lease financing and other commercial real estate loans, and the related ALLL is calculated based on a risk-based approach as reflected in credit risk grades assigned to commercial segment loans. The originated noncommercial segment includes noncommercial construction and land development, residential mortgage, revolving mortgage and consumer loans, and the associated ALLL was determined using a delinquency-based approach. | ||
BancShares' methodology for calculating the ALLL includes estimating a general allowance for pools of unimpaired loans and specific allocations for significant individual impaired loans. The general allowance is based on net historical loan loss experience for homogeneous groups of loans based mostly on loan type then aggregated on the basis of similar risk characteristics and performance trends. The general allowance estimate also contains qualitative components that allow management to adjust reserves based on historical loan loss experience for changes in the economic environment, portfolio trends and other factors. The specific allowance component is determined when management believes that the collectability of an individually reviewed loan has been impaired and a loss is probable. The fair value of impaired loans is based on the present value of expected cash flows, market prices of the loans, if available, or the value of the underlying collateral. Expected cash flows are discounted at the loans' effective interest rates. | ||
The general allowance considers probable, incurred losses that are inherent within the loan portfolio but have not been specifically identified. Loans are divided into segments for analysis based in part on the risk profile inherent in each segment. Loans are further segmented into classes to appropriately recognize changes in inherent risk. A primary component of determining the general allowance for performing and classified loans not analyzed specifically is the actual loss history of the various classes. Loan loss factors based on historical experience may be adjusted for significant factors that, in management's judgment, affect the collectability of the portfolio at the balance sheet date. For originated commercial loans and leases, management incorporates historical net loss data to develop the applicable loan loss factors by utilizing information that considers the class of the commercial loan and associated risk rating. For the originated noncommercial segment, management incorporates specific loan class and delinquency status trends into the loan loss factors. Loan loss factors may be adjusted quarterly based on changes in the level of historical net charge-offs and model adjustment parameter updates by management, such as the number of periods included in the calculation of loss factors, loss severity and portfolio attrition. | ||
The quarterly ALLL evaluation process for the general allowance also includes a qualitative framework that considers economic conditions, composition of the loan portfolio, trends in delinquent and nonperforming loans, historical loss experience by categories of loans, concentrations of credit, changes in lending policies and underwriting standards, regulatory exam results and other factors indicative of inherent losses remaining in the portfolio. Management may adjust the ALLL calculated based on historical loan loss factors when assessing changes in the factors in the qualitative framework. The adjustments to the ALLL for the qualitative framework are based on economic data, data analysis of portfolio trends and management judgment. These adjustments are specific to the loan class level. Prior to the second quarter of 2013, a portion of the allowance for loan and lease losses was not allocated to any specific class of loans. This nonspecific portion reflected management's best estimate of the elements of imprecision and estimation risk inherent in the calculation of the overall allowance. | ||
During the second quarter of 2013, BancShares implemented enhancements to the process to estimate the ALLL and the reserve for unfunded commitments, described below. Through detailed analysis of historical loss data, the process enhancements enabled allocation of the previously unallocated "nonspecific" ALLL and a portion of the reserve for unfunded loan commitments to specific loan classes. The enhanced ALLL estimates implicitly include the risk of draws on open lines within each loan class. Other than the modifications described above, the enhancements to the methodology had no material impact on the ALLL. | ||
Specific allocations are made for significant, individual impaired loans. Management deems a loan to be impaired when, based upon current information and events, it is probable that BancShares will be unable to collect all amounts due according to the contractual terms of the loan. Generally management considers the following loans to be impaired: all TDR loans, commercial and consumer relationships which are nonaccrual or 90+ days past due and greater than $500,000 as well as any other loan management deems impaired. All impaired loans are reviewed for potential impairment on a quarterly basis. Specific valuation allowances are established or partial charge-offs are recorded on impaired loans for the difference between the loan amount and the estimated fair value. | ||
Management continuously monitors and actively manages the credit quality of the entire loan portfolio and adjusts the ALLL to an appropriate level. By assessing the probable estimated incurred losses in the loan portfolio on a quarterly basis, management is able to adjust specific and general loss estimates based upon the most recent information available. Future adjustments to the ALLL may be necessary based on changes in economic and other conditions. Additionally, various regulatory agencies, as an integral part of their examination process, periodically review BancShares' ALLL. Such agencies may require the recognition of adjustments to the ALLL based on their judgments of information available to them at the time of their examination. Management considers the established ALLL adequate to absorb probable losses that relate to loans and leases outstanding as of December 31, 2013. | ||
Each portfolio segment and the classes within those segments are subject to risks that could have an adverse impact on the credit quality of the loan and lease portfolio and the related ALLL. Management has identified the most significant risks as described below that are generally similar among the segments and classes. While the list is not exhaustive, it provides a description of the risks management has determined are the most significant. | ||
Originated Commercial Loans and Leases | ||
Each commercial loan or lease is centrally underwritten based primarily upon the customer's ability to generate the required cash flow to service the debt in accordance with the contractual terms and conditions of the loan agreement. A complete understanding of the borrower's business, including the experience and background of the principals, is obtained prior to approval. To the extent that the loan or lease is secured by collateral, which is true for the majority of commercial loans and leases, the likely value of the collateral and what level of strength the collateral brings to the transaction is evaluated. To the extent that the principals or other parties provide personal guarantees, the relative financial strength and liquidity of each guarantor is assessed. | ||
The significant majority of relationships in the originated commercial segment are assigned credit risk grades based upon an assessment of conditions that affect the borrower's ability to meet contractual obligations under the loan agreement. This process includes reviewing the borrowers' financial information, payment history, credit documentation, public information and other information specific to each borrower. Credit risk grades are reviewed annually, or at any point management becomes aware of information affecting the borrowers' ability to fulfill their obligations. Our credit risk grading standards are described in Note C. | ||
The impairment assessment and determination of the related specific reserve for each impaired loan is based on a loan's characteristics. Impairment measurement for loans that are not collateral dependent is based on the present value of expected cash flows discounted at the loan's effective interest rate. Specific valuation allowances are established or partial charge-offs are recorded for the difference between the loan amount and the estimated fair value. Impairment measurement for most real estate loans, particularly when a loan is considered to be a probable foreclosure, is based on the fair value of the underlying collateral. Collateral is appraised and market value, appropriately adjusted for an assessment of the sales and marketing costs as well as the expected holding period, is used to calculate an anticipated fair value. | ||
General reserves for collective impairment are based on estimated incurred losses related to unimpaired commercial loans and leases as of the balance sheet date. Incurred loss estimates for the originated commercial segment are based on average loss rates by credit risk ratings, which are estimated using historical loss experience and credit risk rating migrations. Incurred loss estimates may be adjusted through a qualitative assessment to reflect current economic conditions and portfolio trends including credit quality, concentrations, aging of the portfolio and significant policy and underwriting changes. | ||
Common risks to each class of commercial loans include general economic conditions within the markets BancShares serves, as well as risks that are specific to each transaction including demand for products and services, personal events, such as disability or change in marital status and reductions in the value of collateral. Due to the concentration of loans in the medical, dental and related fields, BancShares is susceptible to risks that governmental actions, including implementation of the Affordable Care Act, will fundamentally alter the medical care industry in the United States. | ||
In addition to these common risks for the majority of the originated commercial segment, additional risks are inherent in certain classes of originated commercial loans and leases. | ||
Commercial construction and land development | ||
Commercial construction and land development loans are highly dependent on the supply and demand for commercial real estate in the markets served by BancShares as well as the demand for newly constructed residential homes and lots that customers are developing. Deterioration in demand could result in decreases in collateral values and could make repayment of the outstanding loans more difficult for customers. | ||
Commercial mortgage, commercial and industrial and lease financing | ||
Commercial mortgage loans, commercial and industrial loans and lease financing are primarily dependent on the ability of borrowers to achieve business results consistent with those projected at loan origination resulting in cash flow sufficient to service the debt. To the extent that a customer's business results are significantly unfavorable versus the original projections, the ability for the loan to be serviced on a basis consistent with the contractual terms may be at risk. While these loans and leases are generally secured by real property, personal property or business assets such as inventory or accounts receivable, it is possible that the liquidation of the collateral will not fully satisfy the obligation. | ||
Other commercial real estate | ||
Other commercial real estate loans consist primarily of loans secured by multifamily housing and agricultural loans. The primary risk associated with multifamily loans is the ability of the income-producing property that collateralizes the loan to produce adequate cash flow to service the debt. High unemployment or generally weak economic conditions may result in customers having to provide rental rate concessions to achieve adequate occupancy rates. The performance of agricultural loans is highly dependent on favorable weather, reasonable costs for seed and fertilizer and the ability to successfully market the product at a profitable margin. The demand for these products is also dependent on macroeconomic conditions that are beyond the control of the borrower. | ||
Originated Noncommercial Loans and Leases | ||
Each originated noncommercial loan is centrally underwritten using automated credit scoring and analysis tools. These credit scoring tools take into account factors such as payment history, credit utilization, length of credit history, types of credit currently in use and recent credit inquiries. To the extent that the loan is secured by collateral, the likely value of that collateral is evaluated. | ||
The ALLL for the originated noncommercial segment is primarily calculated on a pooled basis using a delinquency-based approach. Estimates of incurred losses are based on historical loss experience and the migration of receivables through the various delinquency pools applied to the current risk mix. These estimates may be adjusted through a qualitative assessment to reflect current economic conditions, portfolio trends and other factors. The remaining portion of the ALLL related to the originated noncommercial segment results from loans that are deemed impaired. The impairment assessment and determination of the related specific reserve for each impaired loan is based on a loan's characteristics. Impairment measurement for loans that are not collateral dependent is based on the present value of expected cash flows discounted at the loan's effective interest rate. Specific valuation allowances are established or partial charge-offs are recorded for the difference between the loan amount and the estimated fair value. Impairment measurement for most real estate loans, particularly when a loan is considered to be a probable foreclosure, is based on the fair value of the underlying collateral. Collateral is appraised and market value, appropriately adjusted for an assessment of the sales and marketing costs as well as the expected holding period, is used to calculate an anticipated fair value. | ||
Common risks to each class of noncommercial loans include risks that are not specific to individual transactions such as general economic conditions within the markets BancShares serves, particularly unemployment and potential declines in real estate values. Personal events such as disability or change in marital status also add risk to noncommercial loans. | ||
In addition to these common risks for the majority of noncommercial loans, additional risks are inherent in certain classes of noncommercial loans. | ||
Revolving mortgage | ||
Revolving mortgage loans are often secured by second liens on residential real estate, thereby making such loans particularly susceptible to declining collateral values. A substantial decline in collateral value could render a second lien position to be effectively unsecured. Additional risks include lien perfection inaccuracies, disputes with first lienholders and uncertainty regarding the customer's performance with respect to the first lien that may further weaken the collateral position. Further, the open-end structure of these loans creates the risk that customers may draw on the lines in excess of the collateral value if there have been significant declines since origination. | ||
Consumer | ||
The consumer loan portfolio includes loans secured by personal property such as automobiles, marketable securities, other titled recreational vehicles including boats and motorcycles, as well as unsecured consumer debt. The value of underlying collateral within this class is especially volatile due to potential rapid depreciation in values since date of loan origination, potentially in excess of principal balances. | ||
Residential mortgage and noncommercial construction and land development | ||
Residential mortgage and noncommercial construction and land development loans are made to individuals and are typically secured by 1-4 family residential property, undeveloped land and partially developed land in anticipation of pending construction of a personal residence. Significant and rapid declines in real estate values can result in residential mortgage loan borrowers having debt levels in excess of the current market value of the collateral. Noncommercial construction and land development projects can experience delays in completion and cost overruns that exceed the borrower's financial ability to complete the project. Such cost overruns can routinely result in foreclosure of partially completed and unmarketable collateral. | ||
Acquired loans | ||
The risks associated with acquired loans are generally consistent with the risks identified for commercial and noncommercial originated loans and the classes of loans within those segments. However, these loans were underwritten by other institutions with weaker lending standards. Additionally, in some cases, collateral for acquired loans is located in regions that have experienced profound erosion of real estate values. Therefore, there exists a significant risk that acquired loans are not adequately supported by borrower cash flow or the values of underlying collateral. | ||
The ALLL for acquired loans is estimated based on the estimated cash flows approach. Over the life of acquired loans and leases, BancShares continues to estimate cash flows expected to be collected on individual loans and leases or on pools of loans and leases sharing common risk characteristics. BancShares evaluates at each balance sheet date whether the estimated cash flows and corresponding present value of its loans and leases determined using the effective interest rates has decreased and if so, recognizes provision for loan and lease losses. For any increases in cash flows expected to be collected, BancShares adjusts any prior recorded allowance for loan and lease losses first and then the amount of accretable yield recognized on a prospective basis over the loan's or pool's remaining life. | ||
Reserve for Unfunded Commitments | ||
The reserve for unfunded commitments represents the estimated probable losses related to unfunded lending commitments, such as letters of credit, financial guarantees and similar binding commitments. The reserve is calculated in a manner similar to the loans evaluated collectively for impairment, while also considering the timing and likelihood that the available credit will be utilized as well as the exposure upon default. The reserve for unfunded commitments is presented within other liabilities on the consolidated balance sheets, distinct from the ALLL, and adjustments to the reserve for unfunded commitments are included in other noninterest expense in the consolidated statements of income. | ||
Securities Sold Under Repurchase Agreements | ||
Securities sold under repurchase agreements generally have maturities of one day and are reflected as short-term borrowings on the Consolidated Balance Sheets and are recorded based on the amount of cash received in connection with the borrowing. At December 31, 2013, and 2012, BancShares had $97.0 million and $111.9 million of securities sold under repurchase agreements, respectively. | ||
Premises and Equipment | ||
Premises, equipment and capital leases are stated at cost less accumulated depreciation and amortization. For financial reporting purposes, depreciation and amortization are computed using the straight-line method and are expensed over the estimated useful lives of the assets, which range from 25 to 40 years for premises and three to 10 years for furniture, software and equipment. Leasehold improvements are amortized over the terms of the respective leases or the useful lives of the improvements, whichever is shorter. Gains and losses on dispositions are recorded in other noninterest expense. Maintenance and repairs are charged to occupancy expense or equipment expense as incurred. Obligations under capital leases are amortized over the life of the lease using the interest method to allocate payments between principal reduction and interest expense. Rent expense and rental income on operating leases are recorded using the straight-line method over the appropriate lease terms. | ||
Goodwill and Other Intangible Assets | ||
BancShares accounts for acquisitions using the acquisition method of accounting. Under acquisition accounting, if the purchase price of an acquired company exceeds the fair value of its net assets, the excess is carried on the acquirer's balance sheet as goodwill. An intangible asset is recognized as an asset apart from goodwill if it arises from contractual or other legal rights or if it is capable of being separated or divided from the acquired entity and sold, transferred, licensed, rented or exchanged. Intangible assets are identifiable assets, such as core deposit intangibles, resulting from acquisitions which are amortized on an accelerated basis over an estimated useful life and evaluated for impairment whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable. | ||
Goodwill is not amortized but is evaluated at least annually for impairment or more frequently if events occur or circumstances change that may trigger a decline in the value of the reporting unit or otherwise indicate that a potential impairment exists. Examples of such events or circumstances include deterioration of general economic conditions, limitations on accessing capital, other equity and credit market developments, adverse change(s) in the environment in which BancShares operates, regulatory or political developments and changes in management, key personnel, strategy or customers. The evaluation of goodwill is based on a variety of factors, including common stock trading multiples and data from comparable acquisitions. Potential impairment of goodwill exists when the carrying amount of a reporting unit exceeds its fair value. In accordance with ASC Topic 350, Intangibles - Goodwill and Other, the fair value for the reporting unit is computed using various methods including market capitalization, price-earnings multiples, price-to-tangible book and market premium. | ||
To the extent the reporting unit's carrying amount exceeds its fair value, an indication exists that the reporting unit's goodwill may be impaired, and the second step of impairment testing will be performed. In the second step, the implied fair value of the reporting unit's goodwill is determined by allocating the reporting unit's fair value to all of its assets (recognized and unrecognized) and liabilities as if the reporting unit had been acquired in a business combination at the date of the impairment test. If the implied fair value of the reporting unit's goodwill is lower than its carrying amount, goodwill is impaired and is written down to the implied fair value. The loss recognized is limited to the carrying amount of goodwill. Once an impairment loss is recognized, future increases in fair value will not result in the reversal of previously recognized losses. | ||
Annual impairment tests are conducted as of July 31 each year. Based on the July 31, 2013, impairment test, management concluded there was no indication of goodwill impairment. In addition to the annual testing requirement, impairment tests are performed if various other events occur including significant adverse changes in the business climate, considering various qualitative and quantitative factors to determine whether impairment exists. There were no such events subsequent to the annual impairment test performed during 2013. | ||
Other intangible assets with estimable lives are amortized over their estimated useful lives, which are periodically reviewed for reasonableness. As a result of the FDIC-assisted transactions in 2011, 2010 and 2009, identifiable intangible assets were recorded representing the estimated value of the core deposits acquired and certain customer relationships. | ||
Fair Values | ||
Fair value disclosures are required for all financial instruments, whether or not recognized in the balance sheet, for which it is practicable to estimate that value. Under GAAP, individual fair value estimates are ranked on a three-tier scale based on the relative reliability of the inputs used in the valuation. Fair values determined using level 1 inputs rely on active and observable markets to price identical assets or liabilities. In situations where identical assets and liabilities are not traded in active markets, fair values may be determined based on level 2 inputs, which represent observable data for similar assets and liabilities. Fair values for assets and liabilities that are not actively traded in observable markets are based on level 3 inputs, which are considered to be nonobservable. Fair value estimates derived from level 3 inputs cannot be substantiated by comparison to independent markets and, in many cases, cannot be realized through immediate settlement of the instrument. Accordingly, the aggregate fair value amounts presented do not necessarily represent the underlying value to BancShares. For additional information, see Note L to the Consolidated Financial Statements. | ||
Income Taxes | ||
Deferred income taxes are reported when different accounting methods have been used in determining income for income tax purposes and for financial reporting purposes. Deferred taxes are computed using the asset and liability approach as prescribed in ASC Topic 740, Income Taxes. Under this method, a deferred tax asset or liability is determined based on the currently enacted tax rates applicable to the period in which the differences between the financial statement carrying amounts and tax basis of existing assets and liabilities are expected to be reported in BancShares' income tax returns. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. | ||
BancShares continually monitors and evaluates the potential impact of current events on the estimates used to establish income tax expenses and income tax liabilities. On a periodic basis, BancShares evaluates its income tax positions based on current tax law, positions taken by various tax auditors within the jurisdictions that BancShares is required to file income tax returns, as well as potential or pending audits or assessments by such tax auditors. | ||
BancShares files a consolidated federal income tax return and various combined and separate company state tax returns. | ||
Derivative Financial Instruments | ||
A derivative is a financial instrument that derives its cash flows, and therefore its value, by reference to an underlying instrument, index or referenced interest rate. These instruments include interest rate swaps, caps, floors, collars, options or other financial instruments designed to hedge exposures to interest rate risk or for speculative purposes. | ||
BancShares selectively uses interest rate swaps for interest rate risk management purposes. During 2011, BancShares entered into an interest rate swap that qualifies as a cash flow hedge under GAAP. This interest rate swap converts variable-rate exposure on outstanding debt to a fixed rate. The derivative is valued each quarter and changes in the fair value are recorded on the consolidated balance sheet with an offset to other comprehensive income for the effective portion and an offset to the consolidated statement of income for any ineffective portion. The assessment of effectiveness is performed using the long-haul method. BancShares’ interest rate swap has been fully effective since inception; therefore, changes in the fair value of the interest rate swap have had no impact on net income. There are no speculative derivative financial instruments in any period. | ||
In the event of a change in the forecasted cash flows of the underlying hedged item, the related hedge will be terminated, and management will consider the appropriateness of entering into another hedge for the remaining exposure. The fair value of the terminated hedge will be amortized from accumulated other comprehensive income into earnings over the original life of the terminated swap, provided the remaining cash flows are still probable. | ||
Subsequent Events | ||
Management has evaluated subsequent events through the date of filing this Form 10-K. See Note V for more information. | ||
Per Share Data | ||
Net income per share has been computed by dividing net income by the average number of both classes of common shares outstanding during each period. BancShares had no potential common stock outstanding in any period. | ||
Cash dividends per share apply to both Class A and Class B common stock. Shares of Class A common stock carry one vote per share, while shares of Class B common stock carry 16 votes per share. | ||
Defined Benefit Pension Plan | ||
BancShares offers a noncontributory defined benefit pension plan to certain qualifying employees. The calculation of the obligations and related expenses under the plan requires the use of actuarial valuation methods and assumptions. Actuarial assumptions used in the determination of future values of plan assets and liabilities are subject to management judgment and may differ significantly if different assumptions are used. The discount rate assumption used to measure the plan obligation is based on a yield curve developed from high-quality corporate bonds across a full maturity spectrum. The projected cash flows of the pension plan are discounted based on this yield curve, and a single discount rate is calculated to achieve the same present value. Refer to Note M in the Consolidated Financial Statements for disclosures related to BancShares' defined benefit pension plan. | ||
Recently Adopted Accounting Pronouncements | ||
FASB ASU 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” | ||
This ASU requires BancShares to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts, BancShares is required to cross-reference to other disclosures required under GAAP that provide additional detail about those amounts. | ||
For public entities, the amendments are effective prospectively for reporting periods beginning after December 15, 2012. BancShares adopted the methodologies prescribed by this ASU by the date required. Adoption of this ASU did not have a material effect on BancShares' financial position or results of operations. BancShares has included the required disclosures in its Consolidated Statements of Comprehensive Income and in Note U to the Consolidated Financial Statements. | ||
FASB ASU 2012-06. “Business Combinations (Topic 805) - Subsequent Accounting for an Indemnification Asset Recognized at the Acquisition Date as a Result of a Government-Assisted Acquisition of a Financial Institution” | ||
This ASU addresses the diversity in practice about how to interpret the terms on the same basis and contractual limitations when subsequently measuring an indemnification asset recognized in a government-assisted (Federal Deposit Insurance Corporation or National Credit Union Administration) acquisition of a financial institution that includes a loss sharing agreement (indemnification agreement). When BancShares recognizes an indemnification asset (in accordance with Subtopic 805-20) as a result of a government-assisted acquisition of a financial institution and subsequently a change in the cash flows expected to be collected on the indemnification asset occurs (as a result of a change in cash flows expected to be collected on the assets subject to indemnification), BancShares should subsequently account for the change in the measurement of the indemnification asset on the same basis as the change in the assets subject to indemnification. Any amortization of changes in value should be limited to the contractual term of the indemnification agreement (that is, the lesser of the term of the indemnification agreement and the remaining life of the indemnified assets). | ||
This guidance became effective for annual periods beginning on or after December 15, 2012, and interim periods within those annual periods. BancShares adopted ASU 2012-06 on January 1, 2013. BancShares had previously accounted for its indemnification asset in accordance with this guidance; accordingly, the adoption of this guidance had no impact on BancShares' consolidated financial position, results of operations or cash flows. | ||
Recently Issued Accounting Pronouncements | ||
FASB ASU 2014-01, “Investments—Equity Method and Joint Ventures (Topic 323)—Accounting for Investments in Qualified Affordable Housing Projects” | ||
This ASU permits BancShares to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, BancShares would amortize the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognize the net investment performance in the income statement as a component of income tax expense (benefit). | ||
For those investments in qualified affordable housing projects not accounted for using the proportional amortization method, the investment should be accounted for as an equity method investment or a cost method investment in accordance with Subtopic 970-323. | ||
The decision to apply the proportional amortization method of accounting will be applied consistently to all qualifying affordable housing project investments rather than a decision to be applied to individual investments. | ||
The amendments in this ASU should be applied retrospectively to all periods presented and are effective for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. | ||
BancShares is in the process of evaluating this ASU and the potential impact of adoption and, therefore, has elected not to adopt the proportional amortization method as outlined in ASU 2014-01 at this time. | ||
FASB ASU 2013-11, “Income Taxes (Topic 740)” | ||
This ASU states that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require BancShares to use, and BancShares does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The assessment of whether a deferred tax asset is available is based on the unrecognized tax benefit and deferred tax asset that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date. | ||
The provisions of this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. | ||
The provisions of this ASU will be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. BancShares will adopt this ASU by the date required and does not anticipate that the ASU will have a material effect on its financial position or results of operations. | ||
FASB ASU 2013-04, “Liabilities” | ||
This ASU provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this ASU is fixed at the reporting date, except for obligations addressed within existing guidance in GAAP. | ||
The updated guidance requires BancShares to measure those obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance in this ASU also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. | ||
The amendments in this update are effective for fiscal years beginning after December 31, 2013. Early adoption is permitted. BancShares will adopt the methodologies prescribed by this ASU by the date required, and does not anticipate that the ASU will have a material effect on its financial position or results of operations. |
Investments
Investments | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Investments [Abstract] | ' | |||||||||||||||||||||||
Investments | ' | |||||||||||||||||||||||
INVESTMENTS | ||||||||||||||||||||||||
Investment securities as of December 31, 2013, and 2012, along with unrealized gains and losses determined on an individual security basis, are as follows: | ||||||||||||||||||||||||
Cost | Gross | Gross unrealized | Fair | |||||||||||||||||||||
unrealized | losses | value | ||||||||||||||||||||||
gains | ||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Investment securities available for sale | ||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
U.S. Treasury | $ | 373,223 | $ | 259 | $ | 45 | $ | 373,437 | ||||||||||||||||
Government agency | 2,543,223 | 1,798 | 792 | 2,544,229 | ||||||||||||||||||||
Mortgage-backed securities | 2,486,297 | 4,526 | 43,950 | 2,446,873 | ||||||||||||||||||||
Equity securities | 543 | 21,604 | — | 22,147 | ||||||||||||||||||||
State, county and municipal | 186 | 1 | — | 187 | ||||||||||||||||||||
Other | 863 | — | 33 | 830 | ||||||||||||||||||||
Total investment securities available for sale | $ | 5,404,335 | $ | 28,188 | $ | 44,820 | $ | 5,387,703 | ||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||
U.S. Treasury | $ | 823,241 | $ | 403 | $ | 12 | $ | 823,632 | ||||||||||||||||
Government agency | 3,052,040 | 3,501 | 337 | 3,055,204 | ||||||||||||||||||||
Mortgage-backed securities | 1,315,211 | 14,787 | 341 | 1,329,657 | ||||||||||||||||||||
Equity securities | 543 | 15,822 | — | 16,365 | ||||||||||||||||||||
State, county and municipal | 546 | 4 | — | 550 | ||||||||||||||||||||
Other | 838 | — | 18 | 820 | ||||||||||||||||||||
Total investment securities available for sale | $ | 5,192,419 | $ | 34,517 | $ | 708 | $ | 5,226,228 | ||||||||||||||||
Investment securities held to maturity | ||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Mortgage-backed securities | $ | 907 | $ | 67 | $ | — | $ | 974 | ||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||
Mortgage-backed securities | $ | 1,342 | $ | 133 | $ | 27 | $ | 1,448 | ||||||||||||||||
Investments in mortgage-backed securities primarily represent securities issued by the Government National Mortgage Association, Federal National Mortgage Association and Federal Home Loan Mortgage Corporation. | ||||||||||||||||||||||||
The following table provides the maturity distribution of amortizing investment securities. Repayments of mortgage-backed securities are dependent on the underlying loan balances. Equity securities do not have a stated maturity date. | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Cost | Fair | Cost | Fair | |||||||||||||||||||||
value | value | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Investment securities available for sale | ||||||||||||||||||||||||
Amortizing securities maturing in: | ||||||||||||||||||||||||
One year or less | $ | 839,956 | $ | 840,883 | $ | 2,285,159 | $ | 2,286,403 | ||||||||||||||||
One through five years | 2,077,539 | 2,077,800 | 1,590,608 | 1,592,923 | ||||||||||||||||||||
Five through 10 years | — | — | 898 | 880 | ||||||||||||||||||||
Mortgage-backed securities | 2,486,297 | 2,446,873 | 1,315,211 | 1,329,657 | ||||||||||||||||||||
Equity securities | 543 | 22,147 | 543 | 16,365 | ||||||||||||||||||||
Total investment securities available for sale | $ | 5,404,335 | $ | 5,387,703 | $ | 5,192,419 | $ | 5,226,228 | ||||||||||||||||
Investment securities held to maturity | ||||||||||||||||||||||||
Mortgage-backed securities held to maturity | $ | 907 | $ | 974 | $ | 1,342 | $ | 1,448 | ||||||||||||||||
For each period presented, securities gains (losses) include the following: | ||||||||||||||||||||||||
Year ended December 31 | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Gross gains on sales of investment securities available for sale | $ | — | $ | 2,324 | $ | 531 | ||||||||||||||||||
Gross losses on sales of investment securities available for sale | — | (2 | ) | (793 | ) | |||||||||||||||||||
Other than temporary impairment loss on equity securities | — | (45 | ) | (26 | ) | |||||||||||||||||||
Total securities gains (losses) | $ | — | $ | 2,277 | $ | (288 | ) | |||||||||||||||||
The following table provides information regarding securities with unrealized losses as of December 31, 2013, and 2012. | ||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
U.S. Treasury | $ | 102,105 | $ | 45 | $ | — | $ | — | $ | 102,105 | $ | 45 | ||||||||||||
Government agency | 780,552 | 761 | 29,969 | 31 | 810,521 | 792 | ||||||||||||||||||
Mortgage-backed securities | 2,221,213 | 42,876 | 26,861 | 1,074 | 2,248,074 | 43,950 | ||||||||||||||||||
Other | 830 | 33 | — | — | 830 | 33 | ||||||||||||||||||
Total | $ | 3,104,700 | $ | 43,715 | $ | 56,830 | $ | 1,105 | $ | 3,161,530 | $ | 44,820 | ||||||||||||
Investment securities held to maturity: | ||||||||||||||||||||||||
Mortgage-backed securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
December 31, 2012 | ||||||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
U.S. Treasury | $ | 120,045 | $ | 12 | $ | — | $ | — | $ | 120,045 | $ | 12 | ||||||||||||
Government agency | 407,498 | 337 | — | — | 407,498 | 337 | ||||||||||||||||||
Mortgage-backed securities | 135,880 | 214 | 9,433 | 127 | 145,313 | 341 | ||||||||||||||||||
Other | 820 | 18 | — | — | 820 | 18 | ||||||||||||||||||
Total | $ | 664,243 | $ | 581 | $ | 9,433 | $ | 127 | $ | 673,676 | $ | 708 | ||||||||||||
Investment securities held to maturity: | ||||||||||||||||||||||||
Mortgage-backed securities | $ | — | $ | — | $ | 17 | $ | 27 | $ | 17 | $ | 27 | ||||||||||||
Investment securities with an aggregate fair value of $56.8 million have had continuous unrealized losses for more than 12 months as of December 31, 2013, with an aggregate unrealized loss of $1.1 million. These 18 investments included mortgage-backed and government agency securities. None of the unrealized losses identified as of December 31, 2013, or December 31, 2012, relate to the marketability of the securities or the issuer’s ability to honor redemption obligations. For all periods presented, BancShares had the ability and intent to retain these securities for a period of time sufficient to recover all unrealized losses. Therefore, none of the securities were deemed to be other than temporarily impaired. | ||||||||||||||||||||||||
Investment securities having an aggregate carrying value of $2.75 billion at December 31, 2013, and $2.35 billion at December 31, 2012, were pledged as collateral to secure public funds on deposit and certain short-term borrowings, and for other purposes as required by law. |
Loans_and_Leases
Loans and Leases | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Loans and Leases | ' | |||||||||||||||||||||||||||||||||||
LOANS AND LEASES | ||||||||||||||||||||||||||||||||||||
Loans and leases outstanding include the following as of the dates indicated: | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
Acquired loans | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Construction and land development | $ | 78,915 | $ | 237,906 | ||||||||||||||||||||||||||||||||
Commercial mortgage | 642,891 | 1,054,473 | ||||||||||||||||||||||||||||||||||
Other commercial real estate | 41,381 | 107,119 | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 17,254 | 49,463 | ||||||||||||||||||||||||||||||||||
Other | 866 | 1,074 | ||||||||||||||||||||||||||||||||||
Total commercial loans | 781,307 | 1,450,035 | ||||||||||||||||||||||||||||||||||
Noncommercial: | ||||||||||||||||||||||||||||||||||||
Residential mortgage | 213,851 | 297,926 | ||||||||||||||||||||||||||||||||||
Revolving mortgage | 30,834 | 38,710 | ||||||||||||||||||||||||||||||||||
Construction and land development | 2,583 | 20,793 | ||||||||||||||||||||||||||||||||||
Consumer | 851 | 1,771 | ||||||||||||||||||||||||||||||||||
Total noncommercial loans | 248,119 | 359,200 | ||||||||||||||||||||||||||||||||||
Total acquired loans | 1,029,426 | 1,809,235 | ||||||||||||||||||||||||||||||||||
Originated loans and leases: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Construction and land development | 319,847 | 309,190 | ||||||||||||||||||||||||||||||||||
Commercial mortgage | 6,362,490 | 6,029,435 | ||||||||||||||||||||||||||||||||||
Other commercial real estate | 178,754 | 160,980 | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 1,081,158 | 1,038,530 | ||||||||||||||||||||||||||||||||||
Lease financing | 381,763 | 330,679 | ||||||||||||||||||||||||||||||||||
Other | 175,336 | 125,681 | ||||||||||||||||||||||||||||||||||
Total commercial loans | 8,499,348 | 7,994,495 | ||||||||||||||||||||||||||||||||||
Noncommercial: | ||||||||||||||||||||||||||||||||||||
Residential mortgage | 982,421 | 822,889 | ||||||||||||||||||||||||||||||||||
Revolving mortgage | 2,113,285 | 2,210,133 | ||||||||||||||||||||||||||||||||||
Construction and land development | 122,792 | 131,992 | ||||||||||||||||||||||||||||||||||
Consumer | 386,452 | 416,606 | ||||||||||||||||||||||||||||||||||
Total noncommercial loans | 3,604,950 | 3,581,620 | ||||||||||||||||||||||||||||||||||
Total originated loans and leases | 12,104,298 | 11,576,115 | ||||||||||||||||||||||||||||||||||
Total loans and leases | $ | 13,133,724 | $ | 13,385,350 | ||||||||||||||||||||||||||||||||
At December 31, 2013, $2.56 billion in originated loans were pledged to secure debt obligations, compared to $2.57 billion at December 31, 2012. | ||||||||||||||||||||||||||||||||||||
Credit quality indicators | ||||||||||||||||||||||||||||||||||||
Loans and leases are monitored for credit quality on a recurring basis. The credit quality indicators used are dependent on the portfolio segment to which the loan relates. Originated commercial loans and leases, originated noncommercial loans and leases and acquired loans have different credit quality indicators as a result of the methods used to monitor each of these loan segments. | ||||||||||||||||||||||||||||||||||||
The credit quality indicators for originated commercial loans and leases and all acquired loans and leases are developed through review of individual borrowers on an ongoing basis. Each borrower is evaluated at least annually with more frequent evaluation of more severely criticized loans or leases. The indicators represent the rating for loans or leases as of the date presented based on the most recent assessment performed. These credit quality indicators are defined as follows: | ||||||||||||||||||||||||||||||||||||
Pass – A pass rated asset is not adversely classified because it does not display any of the characteristics for adverse classification. | ||||||||||||||||||||||||||||||||||||
Special mention – A special mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention assets are not adversely classified and do not warrant adverse classification. | ||||||||||||||||||||||||||||||||||||
Substandard – A substandard asset is inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Assets classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These assets are characterized by the distinct possibility of loss if the deficiencies are not corrected. | ||||||||||||||||||||||||||||||||||||
Doubtful – An asset classified as doubtful has all the weaknesses inherent in an asset classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable on the basis of currently existing facts, conditions and values. | ||||||||||||||||||||||||||||||||||||
Loss – Assets classified as loss are considered uncollectible and of such little value that it is inappropriate to be carried as an asset. This classification is not necessarily equivalent to no potential for recovery or salvage value, but rather that it is not appropriate to defer a full charge-off even though partial recovery may be effected in the future. | ||||||||||||||||||||||||||||||||||||
Ungraded – Ungraded loans represent loans that are not included in the individual credit grading process due to their relatively small balances or borrower type. The majority of originated, ungraded loans at December 31, 2013, relate to business credit cards and tobacco buyout loans classified as commercial and industrial loans. Business credit card loans with an outstanding balance of $72.4 million at December 31, 2013, are subject to automatic charge-off when they become 120 days past due in the same manner as unsecured consumer lines of credit. Tobacco buyout loans with an outstanding balance of $22.1 million at December 31, 2013, are secured by assignments of receivables made pursuant to the Fair and Equitable Tobacco Reform Act of 2004. The credit risk associated with these loans is considered low as the payments that began in 2005 and continue through 2014 are made by the Commodity Credit Corporation, which is part of the United States Department of Agriculture. Final payment from the Commodity Credit Corporation was received during January 2014. | ||||||||||||||||||||||||||||||||||||
The credit quality indicators for originated, noncommercial loans are based on the delinquency status of the borrower. As the borrower becomes more delinquent, the likelihood of loss increases. | ||||||||||||||||||||||||||||||||||||
The composition of the loans and leases outstanding at December 31, 2013, and December 31, 2012, by credit quality indicator is provided below: | ||||||||||||||||||||||||||||||||||||
Originated commercial loans and leases | ||||||||||||||||||||||||||||||||||||
Grade: | Construction and land | Commercial | Other | Commercial and | Lease financing | Other | Total originated commercial loans and leases | |||||||||||||||||||||||||||||
development | mortgage | commercial real estate | industrial | |||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Pass | $ | 308,231 | $ | 6,094,505 | $ | 174,913 | $ | 964,840 | $ | 375,371 | $ | 174,314 | $ | 8,092,174 | ||||||||||||||||||||||
Special mention | 8,620 | 119,515 | 1,362 | 14,686 | 2,160 | 982 | 147,325 | |||||||||||||||||||||||||||||
Substandard | 2,944 | 141,913 | 2,216 | 6,352 | 3,491 | 40 | 156,956 | |||||||||||||||||||||||||||||
Doubtful | 52 | 5,159 | 75 | 144 | 592 | — | 6,022 | |||||||||||||||||||||||||||||
Ungraded | — | 1,398 | 188 | 95,136 | 149 | — | 96,871 | |||||||||||||||||||||||||||||
Total | $ | 319,847 | $ | 6,362,490 | $ | 178,754 | $ | 1,081,158 | $ | 381,763 | $ | 175,336 | $ | 8,499,348 | ||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Pass | $ | 274,480 | $ | 5,688,541 | $ | 151,549 | $ | 894,998 | $ | 325,626 | $ | 124,083 | $ | 7,459,277 | ||||||||||||||||||||||
Special mention | 14,666 | 166,882 | 2,812 | 13,275 | 1,601 | 837 | 200,073 | |||||||||||||||||||||||||||||
Substandard | 18,761 | 157,966 | 5,038 | 12,073 | 1,663 | 756 | 196,257 | |||||||||||||||||||||||||||||
Doubtful | 952 | 13,475 | 98 | 1,040 | 771 | — | 16,336 | |||||||||||||||||||||||||||||
Ungraded | 331 | 2,571 | 1,483 | 117,144 | 1,018 | 5 | 122,552 | |||||||||||||||||||||||||||||
Total | $ | 309,190 | $ | 6,029,435 | $ | 160,980 | $ | 1,038,530 | $ | 330,679 | $ | 125,681 | $ | 7,994,495 | ||||||||||||||||||||||
Originated noncommercial loans and leases | ||||||||||||||||||||||||||||||||||||
Residential | Revolving | Construction | Consumer | Total originated noncommercial | ||||||||||||||||||||||||||||||||
mortgage | mortgage | and land | loans | |||||||||||||||||||||||||||||||||
development | ||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Current | $ | 955,300 | $ | 2,095,480 | $ | 121,026 | $ | 382,710 | $ | 3,554,516 | ||||||||||||||||||||||||||
30-59 days past due | 12,885 | 10,977 | 1,193 | 2,114 | 27,169 | |||||||||||||||||||||||||||||||
60-89 days past due | 4,658 | 2,378 | 317 | 955 | 8,308 | |||||||||||||||||||||||||||||||
90 days or greater past due | 9,578 | 4,450 | 256 | 673 | 14,957 | |||||||||||||||||||||||||||||||
Total | $ | 982,421 | $ | 2,113,285 | $ | 122,792 | $ | 386,452 | $ | 3,604,950 | ||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Current | $ | 786,626 | $ | 2,190,186 | $ | 128,764 | 409,218 | $ | 3,514,794 | |||||||||||||||||||||||||||
30-59 days past due | 15,711 | 12,868 | 1,941 | 4,405 | 34,925 | |||||||||||||||||||||||||||||||
60-89 days past due | 7,559 | 3,200 | 490 | 1,705 | 12,954 | |||||||||||||||||||||||||||||||
90 days or greater past due | 12,993 | 3,879 | 797 | 1,278 | 18,947 | |||||||||||||||||||||||||||||||
Total | $ | 822,889 | $ | 2,210,133 | $ | 131,992 | $ | 416,606 | $ | 3,581,620 | ||||||||||||||||||||||||||
Acquired loans | ||||||||||||||||||||||||||||||||||||
Grade: | Construction | Commercial | Other | Commercial | Residential | Revolving | Construction | Consumer | Total acquired | |||||||||||||||||||||||||||
and land | mortgage | commercial | and | mortgage | mortgage | and land | and other | loans | ||||||||||||||||||||||||||||
development - | real estate | industrial | development - | |||||||||||||||||||||||||||||||||
commercial | noncommercial | |||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Pass | $ | 2,619 | $ | 296,824 | $ | 22,225 | $ | 8,021 | $ | 135,326 | $ | 26,322 | $ | 149 | $ | 1,345 | $ | 492,831 | ||||||||||||||||||
Special mention | 15,530 | 125,295 | 3,431 | 2,585 | 6,301 | 2,608 | — | — | 155,750 | |||||||||||||||||||||||||||
Substandard | 52,228 | 179,657 | 7,012 | 5,225 | 52,774 | 1,013 | 2,139 | — | 300,048 | |||||||||||||||||||||||||||
Doubtful | 7,436 | 40,471 | 8,713 | 1,257 | 2,058 | 891 | 295 | — | 61,121 | |||||||||||||||||||||||||||
Ungraded | 1,102 | 644 | — | 166 | 17,392 | — | — | 372 | 19,676 | |||||||||||||||||||||||||||
Total | $ | 78,915 | $ | 642,891 | $ | 41,381 | $ | 17,254 | $ | 213,851 | $ | 30,834 | $ | 2,583 | $ | 1,717 | $ | 1,029,426 | ||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Pass | $ | 17,010 | $ | 376,974 | $ | 33,570 | $ | 19,451 | $ | 172,165 | $ | 29,540 | $ | 334 | $ | 1,617 | $ | 650,661 | ||||||||||||||||||
Special mention | 25,734 | 259,264 | 17,518 | 12,465 | 14,863 | 1,736 | — | 34 | 331,614 | |||||||||||||||||||||||||||
Substandard | 105,061 | 344,542 | 44,335 | 14,698 | 83,193 | 7,434 | 17,190 | 239 | 616,692 | |||||||||||||||||||||||||||
Doubtful | 87,445 | 73,016 | 11,696 | 2,757 | 4,268 | — | 3,269 | 117 | 182,568 | |||||||||||||||||||||||||||
Ungraded | 2,656 | 677 | — | 92 | 23,437 | — | — | 838 | 27,700 | |||||||||||||||||||||||||||
Total | $ | 237,906 | $ | 1,054,473 | $ | 107,119 | $ | 49,463 | $ | 297,926 | $ | 38,710 | $ | 20,793 | $ | 2,845 | $ | 1,809,235 | ||||||||||||||||||
The aging of the outstanding loans and leases, by class, at December 31, 2013, and December 31, 2012, (excluding loans and leases acquired with deteriorated credit quality) is provided in the table below. The calculation of days past due begins on the day after payment is due and includes all days through which all required interest or principal has not been paid. Loans and leases 30 days or less past due are considered current due to various grace periods that allow borrowers to make payments within a stated period after the due date and still remain in compliance with the loan agreement. | ||||||||||||||||||||||||||||||||||||
30-59 days | 60-89 days | 90 days or greater | Total past | Current | Total loans | |||||||||||||||||||||||||||||||
past due | past due | due | and leases | |||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Originated loans and leases: | ||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 1,603 | $ | 9 | $ | 457 | $ | 2,069 | $ | 317,778 | $ | 319,847 | ||||||||||||||||||||||||
Commercial mortgage | 11,131 | 3,601 | 14,407 | 29,139 | 6,333,351 | 6,362,490 | ||||||||||||||||||||||||||||||
Other commercial real estate | 139 | 210 | 470 | 819 | 177,935 | 178,754 | ||||||||||||||||||||||||||||||
Commercial and industrial | 3,336 | 682 | 436 | 4,454 | 1,076,704 | 1,081,158 | ||||||||||||||||||||||||||||||
Lease financing | 789 | 1,341 | 101 | 2,231 | 379,532 | 381,763 | ||||||||||||||||||||||||||||||
Other | — | 85 | — | 85 | 175,251 | 175,336 | ||||||||||||||||||||||||||||||
Residential mortgage | 12,885 | 4,658 | 9,578 | 27,121 | 955,300 | 982,421 | ||||||||||||||||||||||||||||||
Revolving mortgage | 10,977 | 2,378 | 4,450 | 17,805 | 2,095,480 | 2,113,285 | ||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 1,193 | 317 | 256 | 1,766 | 121,026 | 122,792 | ||||||||||||||||||||||||||||||
Consumer | 2,114 | 955 | 673 | 3,742 | 382,710 | 386,452 | ||||||||||||||||||||||||||||||
Total originated loans and leases | $ | 44,167 | $ | 14,236 | $ | 30,828 | $ | 89,231 | $ | 12,015,067 | $ | 12,104,298 | ||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Originated loans and leases: | ||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 927 | $ | — | $ | 7,878 | $ | 8,805 | $ | 300,385 | $ | 309,190 | ||||||||||||||||||||||||
Commercial mortgage | 24,447 | 4,179 | 21,327 | 49,953 | 5,979,482 | 6,029,435 | ||||||||||||||||||||||||||||||
Other commercial real estate | 387 | 1,240 | 1,034 | 2,661 | 158,319 | 160,980 | ||||||||||||||||||||||||||||||
Commercial and industrial | 2,833 | 1,096 | 605 | 4,534 | 1,033,996 | 1,038,530 | ||||||||||||||||||||||||||||||
Lease financing | 991 | 138 | 621 | 1,750 | 328,929 | 330,679 | ||||||||||||||||||||||||||||||
Other | 18 | 13 | — | 31 | 125,650 | 125,681 | ||||||||||||||||||||||||||||||
Residential mortgage | 15,711 | 7,559 | 12,993 | 36,263 | 786,626 | 822,889 | ||||||||||||||||||||||||||||||
Revolving mortgage | 12,868 | 3,200 | 3,879 | 19,947 | 2,190,186 | 2,210,133 | ||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 1,941 | 490 | 797 | 3,228 | 128,764 | 131,992 | ||||||||||||||||||||||||||||||
Consumer | 4,405 | 1,705 | 1,278 | 7,388 | 409,218 | 416,606 | ||||||||||||||||||||||||||||||
Total originated loans and leases | $ | 64,528 | $ | 19,620 | $ | 50,412 | $ | 134,560 | $ | 11,441,555 | $ | 11,576,115 | ||||||||||||||||||||||||
The recorded investment, by class, in loans and leases on nonaccrual status, and loans and leases greater than 90 days past due and still accruing at December 31, 2013, and December 31, 2012, (excluding loans and leases acquired with deteriorated credit quality) are as follows: | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||||||
Nonaccrual | Loans and | Nonaccrual | Loans and | |||||||||||||||||||||||||||||||||
loans and | leases > 90 | loans and | leases > 90 | |||||||||||||||||||||||||||||||||
leases | days and | leases | days and | |||||||||||||||||||||||||||||||||
accruing | accruing | |||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
Originated loans and leases: | ||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 544 | $ | — | $ | 14,930 | $ | 541 | ||||||||||||||||||||||||||||
Commercial mortgage | 33,529 | 1,113 | 50,532 | 1,671 | ||||||||||||||||||||||||||||||||
Commercial and industrial | 1,428 | 294 | 6,972 | 466 | ||||||||||||||||||||||||||||||||
Lease financing | 832 | — | 1,075 | — | ||||||||||||||||||||||||||||||||
Other commercial real estate | 1,610 | — | 2,319 | — | ||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 457 | 256 | 668 | 111 | ||||||||||||||||||||||||||||||||
Residential mortgage | 14,701 | 1,998 | 12,603 | 3,337 | ||||||||||||||||||||||||||||||||
Revolving mortgage | — | 4,450 | — | 3,877 | ||||||||||||||||||||||||||||||||
Consumer | 69 | 673 | 746 | 1,269 | ||||||||||||||||||||||||||||||||
Total originated loans and leases | $ | 53,170 | $ | 8,784 | $ | 89,845 | $ | 11,272 | ||||||||||||||||||||||||||||
Acquired Loans | ||||||||||||||||||||||||||||||||||||
The following table provides changes in the carrying value of acquired loans during the years ended December 31, 2013, and December 31, 2012: | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
Balance at January 1 | $ | 1,809,235 | $ | 2,362,152 | ||||||||||||||||||||||||||||||||
Reductions for repayments, foreclosures and decreases in fair value | (779,809 | ) | (552,917 | ) | ||||||||||||||||||||||||||||||||
Balance at December 31 | $ | 1,029,426 | $ | 1,809,235 | ||||||||||||||||||||||||||||||||
Outstanding principal balance at December 31 | $ | 1,833,955 | $ | 3,281,958 | ||||||||||||||||||||||||||||||||
The carrying value of loans on the cost recovery method was $28.5 million at December 31, 2013, and $74.5 million at December 31, 2012. The cost recovery method is applied to loans when the timing of future cash flows is not reasonably estimable due to borrower nonperformance or uncertainty in the ultimate disposition of the asset. | ||||||||||||||||||||||||||||||||||||
For acquired loans, improved cash flow estimates and receipt of unscheduled loan payments result in the reclassification of nonaccretable difference to accretable yield. Accretable yield resulting from the improved ability to estimate future cash flows generally does not represent amounts previously identified as nonaccretable difference. | ||||||||||||||||||||||||||||||||||||
The following table documents changes to the amount of accretable yield for 2013 and 2012. Removals represent a reduction to the accretable yield as a result of loans that were fully charged off or paid off during the period. | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
Balance at January 1 | $ | 539,564 | $ | 276,690 | ||||||||||||||||||||||||||||||||
Accretion | (224,672 | ) | (304,023 | ) | ||||||||||||||||||||||||||||||||
Reclassifications from nonaccretable difference | 92,349 | 353,708 | ||||||||||||||||||||||||||||||||||
Changes in expected cash flows that do not affect nonaccretable difference | 32,749 | 213,189 | ||||||||||||||||||||||||||||||||||
Balance at December 31 | $ | 439,990 | $ | 539,564 | ||||||||||||||||||||||||||||||||
Allowance_for_Loan_and_Lease_L
Allowance for Loan and Lease Losses | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses, Adjustments, Net [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses | ' | |||||||||||||||||||||||||||||||||||||||||||||||
ALLOWANCE FOR LOAN AND LEASE LOSSES | ||||||||||||||||||||||||||||||||||||||||||||||||
Activity in the allowance for loan and lease losses is summarized as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated | Acquired | Total | ||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2010 | $ | 176,517 | $ | 51,248 | $ | 227,765 | ||||||||||||||||||||||||||||||||||||||||||
Provision for loan and lease losses | 57,799 | 174,478 | 232,277 | |||||||||||||||||||||||||||||||||||||||||||||
Loans and leases charged off | (59,287 | ) | (137,553 | ) | (196,840 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loans and leases recovered | 5,854 | 1,088 | 6,942 | |||||||||||||||||||||||||||||||||||||||||||||
Net charge-offs | (53,433 | ) | (136,465 | ) | (189,898 | ) | ||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2011 | 180,883 | 89,261 | 270,144 | |||||||||||||||||||||||||||||||||||||||||||||
Provision for loan and lease losses | 42,046 | 100,839 | 142,885 | |||||||||||||||||||||||||||||||||||||||||||||
Loans and leases charged off | (50,208 | ) | (50,270 | ) | (100,478 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loans and leases recovered | 6,325 | 142 | 6,467 | |||||||||||||||||||||||||||||||||||||||||||||
Net charge-offs | (43,883 | ) | (50,128 | ) | (94,011 | ) | ||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2012 | 179,046 | 139,972 | 319,018 | |||||||||||||||||||||||||||||||||||||||||||||
Reclassification (1) | 7,368 | — | 7,368 | |||||||||||||||||||||||||||||||||||||||||||||
Provision for loan and lease losses | 19,289 | (51,544 | ) | (32,255 | ) | |||||||||||||||||||||||||||||||||||||||||||
Loans and leases charged off | (33,118 | ) | (34,908 | ) | (68,026 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loans and leases recovered | 7,289 | — | 7,289 | |||||||||||||||||||||||||||||||||||||||||||||
Net charge-offs | (25,829 | ) | (34,908 | ) | (60,737 | ) | ||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 179,874 | $ | 53,520 | $ | 233,394 | ||||||||||||||||||||||||||||||||||||||||||
(1) Reclassification results from enhancements to the ALLL calculation during the second quarter of 2013 that resulted in the allocation of $15.8 million previously designated as 'nonspecific' to other loan classes and the absorption of $7.4 million of the reserve for unfunded commitments related to unfunded, revocable loan commitments into the ALLL. Further discussion is contained in Note A. | ||||||||||||||||||||||||||||||||||||||||||||||||
Activity in the allowance for loan and lease losses, ending balances of loans and leases and related allowance by class of loans is summarized as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction | Commercial | Other | Commercial | Lease | Other | Residential | Revolving | Construction | Consumer | Non- | Total | |||||||||||||||||||||||||||||||||||||
and land | mortgage | commercial | and | financing | mortgage | mortgage | and land | specific | ||||||||||||||||||||||||||||||||||||||||
development | real estate | industrial | development | |||||||||||||||||||||||||||||||||||||||||||||
- commercial | - non- | |||||||||||||||||||||||||||||||||||||||||||||||
commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated Loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses: | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2012 | $ | 5,467 | $ | 67,486 | $ | 2,169 | $ | 23,723 | $ | 3,288 | $ | 1,315 | $ | 8,879 | $ | 27,045 | $ | 1,427 | $ | 25,962 | $ | 14,122 | $ | 180,883 | ||||||||||||||||||||||||
Provision | 9,665 | 18,198 | 130 | (4,982 | ) | 498 | (116 | ) | (782 | ) | 8,783 | 1,161 | 7,763 | 1,728 | 42,046 | |||||||||||||||||||||||||||||||||
Charge-offs | (9,546 | ) | (7,081 | ) | (254 | ) | (5,472 | ) | (361 | ) | (28 | ) | (4,790 | ) | (11,341 | ) | (1,047 | ) | (10,288 | ) | — | (50,208 | ) | |||||||||||||||||||||||||
Recoveries | 445 | 1,626 | 14 | 781 | 96 | 4 | 529 | 698 | 180 | 1,952 | — | 6,325 | ||||||||||||||||||||||||||||||||||||
Balance at December 31, 2012 | 6,031 | 80,229 | 2,059 | 14,050 | 3,521 | 1,175 | 3,836 | 25,185 | 1,721 | 25,389 | 15,850 | 179,046 | ||||||||||||||||||||||||||||||||||||
Reclassification (1) | 5,141 | 27,421 | (815 | ) | 7,551 | (253 | ) | (1,288 | ) | 5,717 | (9,838 | ) | (478 | ) | (10,018 | ) | (15,772 | ) | 7,368 | |||||||||||||||||||||||||||||
Provision | 2,809 | (4,485 | ) | (32 | ) | 4,333 | 1,646 | 308 | 2,786 | 6,296 | (379 | ) | 6,085 | (78 | ) | 19,289 | ||||||||||||||||||||||||||||||||
Charge-offs | (4,685 | ) | (3,904 | ) | (312 | ) | (4,785 | ) | (272 | ) | (6 | ) | (2,387 | ) | (6,064 | ) | (392 | ) | (10,311 | ) | — | (33,118 | ) | |||||||||||||||||||||||||
Recoveries | 1,039 | 996 | 109 | 1,213 | 107 | 1 | 559 | 660 | 209 | 2,396 | — | 7,289 | ||||||||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 10,335 | $ | 100,257 | $ | 1,009 | $ | 22,362 | $ | 4,749 | $ | 190 | $ | 10,511 | $ | 16,239 | $ | 681 | $ | 13,541 | $ | — | $ | 179,874 | ||||||||||||||||||||||||
(1) Reclassification results from enhancements to the ALLL calculation during the second quarter of 2013 that resulted in the allocation of $15.8 million previously designated as 'nonspecific' to other loan classes and the absorption of $7.4 million of the reserve for unfunded commitments related to unfunded, revocable loan commitments into the ALLL. Further discussion is contained in Note A. | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction | Commercial | Other | Commercial | Lease | Other | Residential | Revolving | Construction | Consumer | Non- | Total | |||||||||||||||||||||||||||||||||||||
and land | mortgage | commercial | and industrial | financing | mortgage | mortgage | and land | specific | ||||||||||||||||||||||||||||||||||||||||
development | real estate | development | ||||||||||||||||||||||||||||||||||||||||||||||
- commercial | - non-commercial | |||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses: | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
ALLL for loans and leases individually evaluated for impairment | $ | 103 | $ | 6,873 | $ | 209 | $ | 771 | $ | 54 | $ | — | $ | 1,586 | $ | 372 | $ | 72 | $ | 121 | $ | — | $ | 10,161 | ||||||||||||||||||||||||
ALLL for loans and leases collectively evaluated for impairment | 10,232 | 93,384 | 800 | 21,591 | 4,695 | 190 | 8,925 | 15,867 | 609 | 13,420 | — | 169,713 | ||||||||||||||||||||||||||||||||||||
Nonspecific ALLL | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Total allowance for loan and lease losses | $ | 10,335 | $ | 100,257 | $ | 1,009 | $ | 22,362 | $ | 4,749 | $ | 190 | $ | 10,511 | $ | 16,239 | $ | 681 | $ | 13,541 | $ | — | $ | 179,874 | ||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
ALLL for loans and leases individually evaluated for impairment | $ | 2,469 | $ | 11,697 | $ | 298 | $ | 2,133 | $ | 202 | $ | 53 | $ | 959 | $ | 1 | $ | 287 | $ | 256 | $ | — | $ | 18,355 | ||||||||||||||||||||||||
ALLL for loans and leases collectively evaluated for impairment | 3,562 | 68,532 | 1,761 | 11,917 | 3,319 | 1,122 | 2,877 | 25,184 | 1,434 | 25,133 | — | 144,841 | ||||||||||||||||||||||||||||||||||||
Nonspecific ALLL | — | — | — | — | — | — | — | — | — | — | 15,850 | 15,850 | ||||||||||||||||||||||||||||||||||||
Total allowance for loan and lease losses | $ | 6,031 | $ | 80,229 | $ | 2,059 | $ | 14,050 | $ | 3,521 | $ | 1,175 | $ | 3,836 | $ | 25,185 | $ | 1,721 | $ | 25,389 | $ | 15,850 | $ | 179,046 | ||||||||||||||||||||||||
Construction | Commercial | Other | Commercial | Lease | Other | Residential | Revolving | Construction | Consumer | Non- | Total | |||||||||||||||||||||||||||||||||||||
and land | mortgage | commercial | and industrial | financing | mortgage | mortgage | and land | specific | ||||||||||||||||||||||||||||||||||||||||
development | real estate | development | ||||||||||||||||||||||||||||||||||||||||||||||
- commercial | - non-commercial | |||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases individually evaluated for impairment | $ | 2,272 | $ | 97,111 | $ | 1,878 | $ | 9,300 | $ | 188 | $ | — | $ | 15,539 | $ | 3,596 | $ | 1,108 | $ | 1,154 | $ | — | $ | 132,146 | ||||||||||||||||||||||||
Loans and leases collectively evaluated for impairment | 317,575 | 6,265,379 | 176,876 | 1,071,858 | 381,575 | 175,336 | 966,882 | 2,109,689 | 121,684 | 385,298 | — | 11,972,152 | ||||||||||||||||||||||||||||||||||||
Total loan and leases | $ | 319,847 | $ | 6,362,490 | $ | 178,754 | $ | 1,081,158 | $ | 381,763 | $ | 175,336 | $ | 982,421 | $ | 2,113,285 | $ | 122,792 | $ | 386,452 | $ | — | $ | 12,104,298 | ||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases individually evaluated for impairment | $ | 17,075 | $ | 133,804 | $ | 3,375 | $ | 22,619 | $ | 804 | $ | 707 | $ | 15,836 | $ | 4,203 | $ | 1,321 | $ | 2,509 | $ | — | $ | 202,253 | ||||||||||||||||||||||||
Loans and leases collectively evaluated for impairment | 292,115 | 5,895,631 | 157,605 | 1,015,911 | 329,875 | 124,974 | 807,053 | 2,205,930 | 130,671 | 414,097 | — | 11,373,862 | ||||||||||||||||||||||||||||||||||||
Total loan and leases | $ | 309,190 | $ | 6,029,435 | $ | 160,980 | $ | 1,038,530 | $ | 330,679 | $ | 125,681 | $ | 822,889 | $ | 2,210,133 | $ | 131,992 | $ | 416,606 | $ | — | $ | 11,576,115 | ||||||||||||||||||||||||
Construction | Commercial | Other | Commercial | Lease | Residential | Revolving | Construction | Consumer | Total | |||||||||||||||||||||||||||||||||||||||
and land | mortgage | commercial | and | financing | mortgage | mortgage | and land | and other | ||||||||||||||||||||||||||||||||||||||||
development - | real estate | industrial | development - | |||||||||||||||||||||||||||||||||||||||||||||
commercial | noncommercial | |||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Acquired Loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses: | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2012 | $ | 16,693 | $ | 39,557 | $ | 16,862 | $ | 5,500 | $ | 13 | $ | 5,433 | $ | 77 | $ | 4,652 | $ | 474 | $ | 89,261 | ||||||||||||||||||||||||||||
Provision | 23,160 | 34,227 | (4,372 | ) | 11,839 | (13 | ) | 18,401 | 10,796 | 6,520 | 281 | 100,839 | ||||||||||||||||||||||||||||||||||||
Charge-offs | (8,667 | ) | (23,509 | ) | (1,256 | ) | (8,442 | ) | — | (4,139 | ) | (1,119 | ) | (2,885 | ) | (253 | ) | (50,270 | ) | |||||||||||||||||||||||||||||
Recoveries | — | — | — | — | — | 142 | — | — | — | 142 | ||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2012 | 31,186 | 50,275 | 11,234 | 8,897 | — | 19,837 | 9,754 | 8,287 | 502 | 139,972 | ||||||||||||||||||||||||||||||||||||||
Provision | (22,942 | ) | (3,872 | ) | (8,949 | ) | 470 | — | (5,487 | ) | (6,399 | ) | (4,170 | ) | (195 | ) | (51,544 | ) | ||||||||||||||||||||||||||||||
Charge-offs | (6,924 | ) | (16,497 | ) | (931 | ) | (4,092 | ) | — | (2,548 | ) | (396 | ) | (3,435 | ) | (85 | ) | (34,908 | ) | |||||||||||||||||||||||||||||
Recoveries | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 1,320 | $ | 29,906 | $ | 1,354 | $ | 5,275 | $ | — | $ | 11,802 | $ | 2,959 | $ | 682 | $ | 222 | $ | 53,520 | ||||||||||||||||||||||||||||
Allowance for loan and lease losses: | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
ALLL for loans and leases acquired with deteriorated credit quality | $ | 1,320 | $ | 29,906 | $ | 1,354 | $ | 5,275 | $ | — | $ | 11,802 | $ | 2,959 | $ | 682 | $ | 222 | $ | 53,520 | ||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
ALLL for loans and leases acquired with deteriorated credit quality | 31,186 | 50,275 | 11,234 | 8,897 | — | 19,837 | 9,754 | 8,287 | 502 | 139,972 | ||||||||||||||||||||||||||||||||||||||
Loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases acquired with deteriorated credit quality | 78,915 | 642,891 | 41,381 | 17,254 | — | 213,851 | 30,834 | 2,583 | 1,717 | 1,029,426 | ||||||||||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases acquired with deteriorated credit quality | 237,906 | 1,054,473 | 107,119 | 49,463 | — | 297,926 | 38,710 | 20,793 | 2,845 | 1,809,235 | ||||||||||||||||||||||||||||||||||||||
The following tables provide information on originated impaired loans and leases, exclusive of loans and leases evaluated collectively as a homogeneous group, including interest income recognized in the period during which the loans and leases were considered impaired. | ||||||||||||||||||||||||||||||||||||||||||||||||
With a | With no | Total | Unpaid | Related | ||||||||||||||||||||||||||||||||||||||||||||
recorded | recorded | principal | allowance | |||||||||||||||||||||||||||||||||||||||||||||
allowance | allowance | balance | recorded | |||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Impaired originated loans and leases | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 1,025 | $ | 1,247 | $ | 2,272 | $ | 7,306 | $ | 103 | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 57,819 | 39,292 | 97,111 | 103,522 | 6,873 | |||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 783 | 1,095 | 1,878 | 2,279 | 209 | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 7,197 | 2,103 | 9,300 | 10,393 | 771 | |||||||||||||||||||||||||||||||||||||||||||
Lease financing | 133 | 55 | 188 | 188 | 54 | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 11,534 | 4,005 | 15,539 | 15,939 | 1,586 | |||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 3,382 | 214 | 3,596 | 3,596 | 372 | |||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 651 | 457 | 1,108 | 1,108 | 72 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,154 | — | 1,154 | 1,154 | 121 | |||||||||||||||||||||||||||||||||||||||||||
Total impaired originated loans and leases | $ | 83,678 | $ | 48,468 | $ | 132,146 | $ | 145,485 | $ | 10,161 | ||||||||||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Impaired originated loans and leases | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 5,941 | $ | 11,134 | $ | 17,075 | $ | 32,898 | $ | 2,469 | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 39,648 | 94,156 | 133,804 | 136,743 | 11,697 | |||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 1,425 | 1,950 | 3,375 | 3,475 | 298 | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 7,429 | 15,190 | 22,619 | 22,619 | 2,133 | |||||||||||||||||||||||||||||||||||||||||||
Lease financing | 665 | 139 | 804 | 804 | 202 | |||||||||||||||||||||||||||||||||||||||||||
Other | — | 707 | 707 | 707 | 53 | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 9,346 | 6,490 | 15,836 | 16,229 | 959 | |||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 1,238 | 2,965 | 4,203 | 4,203 | 1 | |||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 1,162 | 159 | 1,321 | 1,321 | 287 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,609 | 900 | 2,509 | 2,509 | 256 | |||||||||||||||||||||||||||||||||||||||||||
Nonspecific | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Total impaired originated loans and leases | $ | 68,463 | $ | 133,790 | $ | 202,253 | $ | 221,508 | $ | 18,355 | ||||||||||||||||||||||||||||||||||||||
YTD | YTD Interest Income Recognized | |||||||||||||||||||||||||||||||||||||||||||||||
Average | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance | ||||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated impaired loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 6,414 | $ | 270 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 105,628 | 5,702 | ||||||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 2,658 | 144 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 12,772 | 642 | ||||||||||||||||||||||||||||||||||||||||||||||
Lease financing | 350 | 22 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 15,470 | 444 | ||||||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 5,653 | 485 | ||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 958 | 55 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,427 | 53 | ||||||||||||||||||||||||||||||||||||||||||||||
Total originated impaired loans and leases | $ | 151,330 | $ | 7,817 | ||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated impaired loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 22,493 | $ | 399 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 96,082 | 4,630 | ||||||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 2,690 | 142 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 13,658 | 788 | ||||||||||||||||||||||||||||||||||||||||||||||
Lease financing | 497 | 37 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | 424 | 23 | ||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 14,951 | 586 | ||||||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 2,931 | 68 | ||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 2,850 | 41 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,850 | 21 | ||||||||||||||||||||||||||||||||||||||||||||||
Total originated impaired loans and leases | $ | 158,426 | $ | 6,735 | ||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated impaired loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 26,612 | $ | 56 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 65,729 | 1,330 | ||||||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 1,368 | 55 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 12,984 | 456 | ||||||||||||||||||||||||||||||||||||||||||||||
Lease financing | 587 | 21 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | 38 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 9,252 | 300 | ||||||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 2,022 | 105 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 636 | 18 | ||||||||||||||||||||||||||||||||||||||||||||||
Total originated impaired loans and leases | $ | 119,228 | $ | 2,341 | ||||||||||||||||||||||||||||||||||||||||||||
At December 31, 2013, acquired loans that have had an adverse change in expected cash flows since the date of acquisition equaled $459.9 million, for which $53.5 million in related allowance for loan losses has been recorded. | ||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | ||||||||||||||||||||||||||||||||||||||||||||||||
BancShares accounts for certain loan modifications or restructurings as troubled debt restructurings (TDRs). In general, the modification or restructuring of a loan is considered a TDR if, for economic reasons or legal reasons related to a borrower's financial difficulties, a concession is granted to the borrower that creditors would not otherwise consider. Concessions may relate to the contractual interest rate, maturity date, payment structure or other actions. In accordance with GAAP, loans acquired under ASC 310-30, Loans and Debt Securities Acquired | ||||||||||||||||||||||||||||||||||||||||||||||||
with Deteriorated Credit Quality, are not initially considered to be TDRs, but can be classified as such if a modification is made subsequent to acquisition. The following table provides a summary of total TDRs by accrual status. | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
Accruing | Nonaccruing | Total | Accruing | Nonaccruing | Total | |||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 21,032 | $ | 1,002 | $ | 22,034 | $ | 47,368 | $ | 26,920 | $ | 74,288 | ||||||||||||||||||||||||||||||||||||
Commercial mortgage | 113,323 | 23,387 | 136,710 | 151,728 | 37,603 | 189,331 | ||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 3,470 | 1,150 | 4,620 | 10,137 | 2,194 | 12,331 | ||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 9,838 | 1,142 | 10,980 | 10,940 | 7,237 | 18,177 | ||||||||||||||||||||||||||||||||||||||||||
Lease | 49 | — | 49 | 224 | — | 224 | ||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 147,712 | 26,681 | 174,393 | 220,397 | 73,954 | 294,351 | ||||||||||||||||||||||||||||||||||||||||||
Noncommercial | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 23,343 | 3,663 | 27,006 | 28,777 | 5,828 | 34,605 | ||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 3,095 | — | 3,095 | 48 | — | 48 | ||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 651 | 457 | 1,108 | 1,657 | — | 1,657 | ||||||||||||||||||||||||||||||||||||||||||
Consumer and other | 1,154 | — | 1,154 | 2,509 | — | 2,509 | ||||||||||||||||||||||||||||||||||||||||||
Total noncommercial loans | 28,243 | 4,120 | 32,363 | 32,991 | 5,828 | 38,819 | ||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 175,955 | $ | 30,801 | $ | 206,756 | $ | 253,388 | $ | 79,782 | $ | 333,170 | ||||||||||||||||||||||||||||||||||||
Total troubled debt restructurings at December 31, 2013, equaled $206.8 million, of which $102.3 million were acquired and $104.4 million were originated. TDRs at December 31, 2012, totaled $333.2 million, which consisted of $193.2 million acquired and $140.0 million that were originated. | ||||||||||||||||||||||||||||||||||||||||||||||||
The majority of TDRs are included in the special mention, substandard or doubtful grading categories, which results in more elevated loss expectations when determining the expected cash flows that are used to determine the allowance for loan losses associated with these loans. When a restructured loan subsequently defaults, it is evaluated and downgraded if appropriate. The more severely graded the loan, the lower the estimated expected cash flows and the greater the allowance recorded. Further, TDRs over $500,000 and graded substandard or lower are evaluated individually for impairment through a review of collateral values. | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables provide the types of TDRs made during the three months ended December 31, 2013, and 2012, as well as a summary of loans that were modified as a TDR during the 12 months ended December 31, 2013, and 2012 that subsequently defaulted during the three months ended December 31, 2013, and 2012. BancShares defines payment default as movement of the TDR to nonaccrual status, foreclosure or charge-off, whichever occurs first. | ||||||||||||||||||||||||||||||||||||||||||||||||
. | ||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended December 31, 2013 | Three months ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
All restructurings | Restructurings with payment default | All restructurings | Restructurings with payment default | |||||||||||||||||||||||||||||||||||||||||||||
Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest only period provided | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 1 | $ | 305 | 1 | $ | — | 1 | $ | 861 | 1 | $ | 595 | ||||||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | 198 | — | — | 2 | 337 | 1 | 746 | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | — | — | 1 | 559 | ||||||||||||||||||||||||||||||||||||||||
Construction and land development-noncommercial | — | — | — | — | 1 | 476 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total interest only | 2 | 503 | 1 | — | 4 | 1,674 | 3 | 1,900 | ||||||||||||||||||||||||||||||||||||||||
Loan term extension | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 1 | 770 | — | — | 7 | 2,319 | 3 | 122 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | — | — | — | — | 1 | 24 | 1 | 24 | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 3 | 241 | — | — | 1 | 16 | 1 | 108 | ||||||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | 1 | 8 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total loan term extension | 4 | 1,011 | — | — | 10 | 2,367 | 5 | 254 | ||||||||||||||||||||||||||||||||||||||||
Below market interest rate | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 8 | 3,964 | 1 | 295 | 8 | 3,444 | 1 | 490 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | — | — | — | — | 3 | 311 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 6 | 347 | — | — | 2 | 130 | 1 | 59 | ||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 6 | 496 | 2 | 378 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | 2 | 16 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total below market interest rate | 20 | 4,807 | 3 | 673 | 15 | 3,901 | 2 | 549 | ||||||||||||||||||||||||||||||||||||||||
Discharged from bankruptcy | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1 | 32 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | — | — | 3 | 130 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Total discharged from bankruptcy | 1 | 32 | 3 | 130 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Total originated restructurings | 27 | $ | 6,353 | 7 | $ | 803 | 29 | $ | 7,942 | 10 | $ | 2,703 | ||||||||||||||||||||||||||||||||||||
Three months ended December 31, 2013 | Three months ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
All restructurings | Restructurings with payment default | All restructurings | Restructurings with payment default | |||||||||||||||||||||||||||||||||||||||||||||
Number of loans | Recorded investment at period end | Number of loans | Recorded investment at period end | Number of loans | Recorded investment at period end | Number of loans | Recorded investment at period end | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Acquired loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest only period provided | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 2 | $ | 403 | — | $ | — | — | $ | — | — | $ | — | ||||||||||||||||||||||||||||||||||||
Other commercial real estate | — | — | — | — | 1 | 2,994 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total interest only | 2 | 403 | — | — | 1 | 2,994 | — | — | ||||||||||||||||||||||||||||||||||||||||
Loan term extension | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | 1 | 100 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | — | — | 1 | 157 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | — | — | 1 | 66 | ||||||||||||||||||||||||||||||||||||||||
Total loan term extension | 1 | 100 | 1 | 157 | — | — | 1 | 66 | ||||||||||||||||||||||||||||||||||||||||
Below market interest rate | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | — | — | — | — | 3 | 17,615 | 3 | 7,050 | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 1 | 165 | 2 | 2,183 | 4 | 2,715 | 1 | 1,229 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | — | — | — | — | 1 | 253 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1 | 100 | — | — | 3 | 2,542 | 3 | 122 | ||||||||||||||||||||||||||||||||||||||||
Total below market interest rate | 2 | 265 | 2 | 2,183 | 11 | 23,125 | 7 | 8,401 | ||||||||||||||||||||||||||||||||||||||||
Other concession | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | — | — | 1 | 54 | ||||||||||||||||||||||||||||||||||||||||
Total other concession | — | — | — | — | — | — | 1 | 54 | ||||||||||||||||||||||||||||||||||||||||
Total restructurings | 5 | $ | 768 | 3 | $ | 2,340 | 12 | $ | 26,119 | 9 | $ | 8,521 | ||||||||||||||||||||||||||||||||||||
For the three months ended December 31, 2013, the recorded investment in troubled debt restructurings subsequent to modification was not materially impacted by the modification since forgiveness of principal is not a restructuring option frequently used by BancShares. | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables provide the types of TDRs made during the twelve months ended December 31, 2013, and 2012, as well as a summary of loans that were modified as a TDR during the 12 months ended December 31, 2013, and 2012 that subsequently defaulted during the | ||||||||||||||||||||||||||||||||||||||||||||||||
twelve months ended December 31, 2013, and 2012. BancShares defines payment default as movement of the TDR to nonaccrual status, foreclosure or charge-off, whichever occurs first. | ||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
All restructurings | Restructurings with payment default | All restructurings | Restructurings with payment default | |||||||||||||||||||||||||||||||||||||||||||||
Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest only period provided | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | — | $ | — | — | $ | — | 2 | $ | 316 | — | $ | — | ||||||||||||||||||||||||||||||||||||
Commercial mortgage | 6 | 1,520 | 1 | — | 12 | 3,891 | 3 | 1,440 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 2 | 397 | — | — | 2 | 574 | — | — | ||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 1 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1 | 630 | — | — | 2 | 893 | 2 | 893 | ||||||||||||||||||||||||||||||||||||||||
Total interest only | 10 | 2,547 | 1 | — | 18 | 5,674 | 5 | 2,333 | ||||||||||||||||||||||||||||||||||||||||
Loan term extension | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | — | — | — | — | 2 | 7,667 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 9 | 3,270 | — | — | 50 | 16,818 | 13 | 3,456 | ||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | — | — | — | — | 3 | 1,318 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | 47 | — | — | 11 | 1,363 | 4 | 169 | ||||||||||||||||||||||||||||||||||||||||
Lease financing | — | — | — | — | 3 | 166 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 11 | 539 | — | — | 9 | 521 | 2 | 155 | ||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | — | — | — | — | 1 | 158 | — | — | ||||||||||||||||||||||||||||||||||||||||
Consumer | 2 | 62 | — | — | 7 | 1,132 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total loan term extension | 23 | 3,918 | — | — | 86 | 29,143 | 19 | 3,780 | ||||||||||||||||||||||||||||||||||||||||
Below market interest rate | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | 3 | 609 | — | — | 1 | 227 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 28 | 10,873 | 1 | 295 | 12 | 7,333 | 1 | 490 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 3 | 851 | — | — | 11 | 1,584 | 1 | — | ||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 2 | 378 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 21 | 1,235 | — | — | 13 | 1,887 | 5 | 828 | ||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 13 | 801 | 3 | 451 | 1 | 48 | 1 | 48 | ||||||||||||||||||||||||||||||||||||||||
Construction & land development - noncommercial | 4 | 269 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Consumer | 3 | 219 | — | — | 4 | 17 | 1 | — | ||||||||||||||||||||||||||||||||||||||||
Total below market interest rate | 77 | 15,235 | 4 | 746 | 42 | 11,096 | 9 | 1,366 | ||||||||||||||||||||||||||||||||||||||||
Discharged from bankruptcy | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 7 | 510 | 2 | 60 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 31 | 2,577 | 6 | 274 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Total discharged from bankruptcy | 38 | 3,087 | 8 | 334 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Other concession | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | — | — | — | — | 3 | 1,036 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | 1 | 384 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total other concession | — | — | — | — | 4 | 1,420 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total originated restructurings | 148 | $ | 24,787 | 13 | $ | 1,080 | 150 | $ | 47,333 | 33 | $ | 7,479 | ||||||||||||||||||||||||||||||||||||
Year ended December 31, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
All restructurings | Restructurings with payment default | All restructurings | Restructurings with payment default | |||||||||||||||||||||||||||||||||||||||||||||
Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Acquired loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest only period provided | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | 1 | $ | 2,590 | 1 | $ | 2,590 | 2 | $ | 496 | 1 | $ | 356 | ||||||||||||||||||||||||||||||||||||
Commercial mortgage | 5 | 2,880 | 1 | 299 | 4 | 10,404 | 1 | 234 | ||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | — | — | — | — | 1 | 2,994 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | 21 | — | — | 1 | 170 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1 | 39 | — | — | 1 | 98 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total interest only | 8 | 5,530 | 2 | 2,889 | 9 | 14,162 | 2 | 590 | ||||||||||||||||||||||||||||||||||||||||
Loan term extension | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | 6 | 2,247 | — | — | 9 | 7,294 | 1 | 3,703 | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 1 | 157 | 1 | 157 | 4 | 2,584 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 2 | 1,080 | — | — | 2 | 158 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 3 | 5,153 | 2 | 5,120 | 4 | 5,111 | 2 | 4,629 | ||||||||||||||||||||||||||||||||||||||||
Total loan term extension | 12 | 8,637 | 3 | 5,277 | 19 | 15,147 | 3 | 8,332 | ||||||||||||||||||||||||||||||||||||||||
Below market interest rate | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | 2 | 106 | — | — | 13 | 19,953 | 5 | 8,781 | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 12 | 7,513 | 4 | 2,418 | 18 | 19,100 | 6 | 3,906 | ||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | — | — | — | — | 2 | 1,954 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 2 | 493 | — | — | 5 | 1,299 | 2 | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 10 | 2,088 | 5 | 1,475 | 21 | 4,622 | 10 | 490 | ||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | — | — | — | — | 1 | — | 1 | — | ||||||||||||||||||||||||||||||||||||||||
Total below market interest rate | 26 | 10,200 | 9 | 3,893 | 60 | 46,928 | 24 | 13,177 | ||||||||||||||||||||||||||||||||||||||||
Other concession | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 1 | 110 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | 1 | 54 | 1 | 54 | ||||||||||||||||||||||||||||||||||||||||
Total other concession | 1 | 110 | — | — | 1 | 54 | 1 | 54 | ||||||||||||||||||||||||||||||||||||||||
Total acquired restructurings | 47 | $ | 24,477 | 14 | $ | 12,059 | 89 | $ | 76,291 | 30 | $ | 22,153 | ||||||||||||||||||||||||||||||||||||
The following tables provide information on originated impaired loans and leases, exclusive of loans and leases evaluated collectively as a homogeneous group, including interest income recognized in the period during which the loans and leases were considered impaired. | ||||||||||||||||||||||||||||||||||||||||||||||||
With a | With no | Total | Unpaid | Related | ||||||||||||||||||||||||||||||||||||||||||||
recorded | recorded | principal | allowance | |||||||||||||||||||||||||||||||||||||||||||||
allowance | allowance | balance | recorded | |||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Impaired originated loans and leases | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 1,025 | $ | 1,247 | $ | 2,272 | $ | 7,306 | $ | 103 | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 57,819 | 39,292 | 97,111 | 103,522 | 6,873 | |||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 783 | 1,095 | 1,878 | 2,279 | 209 | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 7,197 | 2,103 | 9,300 | 10,393 | 771 | |||||||||||||||||||||||||||||||||||||||||||
Lease financing | 133 | 55 | 188 | 188 | 54 | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 11,534 | 4,005 | 15,539 | 15,939 | 1,586 | |||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 3,382 | 214 | 3,596 | 3,596 | 372 | |||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 651 | 457 | 1,108 | 1,108 | 72 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,154 | — | 1,154 | 1,154 | 121 | |||||||||||||||||||||||||||||||||||||||||||
Total impaired originated loans and leases | $ | 83,678 | $ | 48,468 | $ | 132,146 | $ | 145,485 | $ | 10,161 | ||||||||||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Impaired originated loans and leases | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 5,941 | $ | 11,134 | $ | 17,075 | $ | 32,898 | $ | 2,469 | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 39,648 | 94,156 | 133,804 | 136,743 | 11,697 | |||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 1,425 | 1,950 | 3,375 | 3,475 | 298 | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 7,429 | 15,190 | 22,619 | 22,619 | 2,133 | |||||||||||||||||||||||||||||||||||||||||||
Lease financing | 665 | 139 | 804 | 804 | 202 | |||||||||||||||||||||||||||||||||||||||||||
Other | — | 707 | 707 | 707 | 53 | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 9,346 | 6,490 | 15,836 | 16,229 | 959 | |||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 1,238 | 2,965 | 4,203 | 4,203 | 1 | |||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 1,162 | 159 | 1,321 | 1,321 | 287 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,609 | 900 | 2,509 | 2,509 | 256 | |||||||||||||||||||||||||||||||||||||||||||
Nonspecific | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Total impaired originated loans and leases | $ | 68,463 | $ | 133,790 | $ | 202,253 | $ | 221,508 | $ | 18,355 | ||||||||||||||||||||||||||||||||||||||
YTD | YTD Interest Income Recognized | |||||||||||||||||||||||||||||||||||||||||||||||
Average | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance | ||||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated impaired loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 6,414 | $ | 270 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 105,628 | 5,702 | ||||||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 2,658 | 144 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 12,772 | 642 | ||||||||||||||||||||||||||||||||||||||||||||||
Lease financing | 350 | 22 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 15,470 | 444 | ||||||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 5,653 | 485 | ||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 958 | 55 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,427 | 53 | ||||||||||||||||||||||||||||||||||||||||||||||
Total originated impaired loans and leases | $ | 151,330 | $ | 7,817 | ||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated impaired loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 22,493 | $ | 399 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 96,082 | 4,630 | ||||||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 2,690 | 142 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 13,658 | 788 | ||||||||||||||||||||||||||||||||||||||||||||||
Lease financing | 497 | 37 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | 424 | 23 | ||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 14,951 | 586 | ||||||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 2,931 | 68 | ||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 2,850 | 41 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,850 | 21 | ||||||||||||||||||||||||||||||||||||||||||||||
Total originated impaired loans and leases | $ | 158,426 | $ | 6,735 | ||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated impaired loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 26,612 | $ | 56 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 65,729 | 1,330 | ||||||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 1,368 | 55 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 12,984 | 456 | ||||||||||||||||||||||||||||||||||||||||||||||
Lease financing | 587 | 21 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | 38 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 9,252 | 300 | ||||||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 2,022 | 105 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 636 | 18 | ||||||||||||||||||||||||||||||||||||||||||||||
Total originated impaired loans and leases | $ | 119,228 | $ | 2,341 | ||||||||||||||||||||||||||||||||||||||||||||
Premises_and_Equipment_Notes
Premises and Equipment (Notes) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
PREMISES and EQUIPMENT | ' | |||||||
PREMISES AND EQUIPMENT | ||||||||
Major classifications of premises and equipment at December 31, 2013, and 2012, are summarized as follows: | ||||||||
2013 | 2012 | |||||||
(dollars in thousands) | ||||||||
Land | $ | 204,259 | $ | 202,168 | ||||
Premises and leasehold improvements | 875,511 | 840,149 | ||||||
Furniture and equipment | 394,348 | 390,345 | ||||||
Total | 1,474,118 | 1,432,662 | ||||||
Less accumulated depreciation and amortization | 597,596 | 549,894 | ||||||
Total premises and equipment | $ | 876,522 | $ | 882,768 | ||||
There were no premises pledged to secure borrowings at December 31, 2013, and 2012. | ||||||||
BancShares leases certain premises and equipment under various lease agreements that provide for payment of property taxes, insurance and maintenance costs. Operating leases frequently provide for one or more renewal options on the same basis as current rental terms. However, certain leases require increased rentals under cost of living escalation clauses. Some leases also provide purchase options. | ||||||||
Future minimum rental commitments for noncancellable operating leases with initial or remaining terms of one or more years consisted of the following at December 31, 2013: | ||||||||
Year ended December 31 | ||||||||
(dollars in thousands) | ||||||||
2014 | $ | 17,181 | ||||||
2015 | 13,004 | |||||||
2016 | 8,539 | |||||||
2017 | 5,969 | |||||||
2018 | 4,574 | |||||||
Thereafter | 41,554 | |||||||
Total minimum payments | $ | 90,821 | ||||||
Total rent expense for all operating leases amounted to $21.4 million in 2013, $23.6 million in 2012 and $24.7 million in 2011, net of rent income, which totaled $1.8 million, $1.7 million and $1.7 million during 2013, 2012 and 2011, respectively. |
Other_Real_Estate_Owned
Other Real Estate Owned | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Banking and Thrift [Abstract] | ' | |||||||||||
Other Real Estate Owned | ' | |||||||||||
OTHER REAL ESTATE OWNED | ||||||||||||
The following table explains changes in other real estate owned during 2013 and 2012. | ||||||||||||
Covered | Noncovered | Total | ||||||||||
(dollars in thousands) | ||||||||||||
Balance at January 1, 2012 | $ | 148,599 | $ | 50,399 | $ | 198,998 | ||||||
Additions | 105,059 | 35,586 | 140,645 | |||||||||
Sales | (124,435 | ) | (33,564 | ) | (157,999 | ) | ||||||
Writedowns | (26,646 | ) | (8,908 | ) | (35,554 | ) | ||||||
Balance at December 31, 2012 | 102,577 | 43,513 | 146,090 | |||||||||
Additions | 59,034 | 33,908 | 92,942 | |||||||||
Sales | (96,744 | ) | (36,168 | ) | (132,912 | ) | ||||||
Writedowns | (17,786 | ) | (4,355 | ) | (22,141 | ) | ||||||
Balance at December 31, 2013 | $ | 47,081 | $ | 36,898 | $ | 83,979 | ||||||
Receivable_from_FDIC_for_Loss_
Receivable from FDIC for Loss Share Agreements | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Receivable From FDIC For Loss Share Agreements [Abstract] | ' | |||||||||||
Receivable from FDIC for Loss Share Agreements | ' | |||||||||||
RECEIVABLE FROM THE FDIC FOR LOSS SHARE AGREEMENTS | ||||||||||||
The following table presents the changes in the receivable for loss share agreements: | ||||||||||||
Year ended December 31 | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(dollars in thousands) | ||||||||||||
Balance at January 1 | $ | 270,192 | $ | 617,377 | $ | 671,023 | ||||||
Additional receivable from acquisitions | — | — | 316,932 | |||||||||
Amortization of discounts and premiums, net | (85,651 | ) | (102,394 | ) | (32,960 | ) | ||||||
Cash payments from FDIC | (19,373 | ) | (251,972 | ) | (293,067 | ) | ||||||
Post-acquisition and other adjustments, net | (71,771 | ) | 7,181 | (44,551 | ) | |||||||
Balance at December 31 | $ | 93,397 | $ | 270,192 | $ | 617,377 | ||||||
The receivable from the FDIC for loss share agreements is measured separately from the related covered assets and is recorded at fair value at the acquisition date using projected cash flows related to the loss share agreements based on the expected reimbursements for losses and the applicable loss share percentages. See Note T for information related to BancShares' recorded payable to the FDIC for loss share agreements. | ||||||||||||
Post-acquisition adjustments represent the net change in loss estimates related to acquired loans and covered OREO as a result of changes in expected cash flows and the allowance for loan and lease losses related to those covered loans. For loans covered by loss share agreements, subsequent decreases in the amount expected to be collected from the borrower or collateral liquidation result in a provision for loan and lease losses, an increase in the allowance for loan and lease losses and a proportional adjustment to the receivable from the FDIC for the estimated amount to be reimbursed. Subsequent increases in the amount expected to be collected from the borrower or collateral liquidation result in the reversal of any previously recorded provision for loan and lease losses and related allowance for loan and lease losses and adjustments to the receivable from the FDIC, or prospective adjustment to the accretable yield and the related receivable from the FDIC if no provision for loan and lease losses had been recorded previously. Other adjustments include those resulting from unexpected recoveries of amounts previously charged off. |
Mortgage_Servicing_Rights_Note
Mortgage Servicing Rights (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Mortgage Banking [Abstract] | ' |
Transfers and Servicing of Financial Assets [Text Block] | ' |
MORTGAGE SERVICING RIGHTS | |
Mortgage servicing rights totaled $16,000 and $1.8 million at December 31, 2013, and 2012, respectively. During 2013, BancShares sold substantially all of its servicing asset. During 2011, BancShares acquired the rights to service mortgage loans that had previously been sold by United Western. The acquired asset was recorded at its fair value and amortized over the remaining estimated servicing life, which was estimated to be 60 months as of the acquisition date. BancShares does not hedge its mortgage servicing asset. |
Deposits
Deposits | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Deposits [Abstract] | ' | |||||||
Deposits | ' | |||||||
DEPOSITS | ||||||||
Deposits at December 31 are summarized as follows: | ||||||||
2013 | 2012 | |||||||
(dollars in thousands) | ||||||||
Demand | $ | 5,241,817 | $ | 4,885,700 | ||||
Checking With Interest | 2,445,972 | 2,363,317 | ||||||
Money market accounts | 6,306,942 | 6,357,309 | ||||||
Savings | 1,004,097 | 905,456 | ||||||
Time | 2,875,238 | 3,574,243 | ||||||
Total deposits | $ | 17,874,066 | $ | 18,086,025 | ||||
Time deposits with a minimum denomination of $100,000 totaled $1.27 billion and $1.61 billion at December 31, 2013, and 2012, respectively. | ||||||||
At December 31, 2013, the scheduled maturities of time deposits were: | ||||||||
Year | Scheduled maturities | |||||||
(dollars in thousands) | ||||||||
2014 | $ | 1,920,998 | ||||||
2015 | 532,711 | |||||||
2016 | 296,073 | |||||||
2017 | 87,179 | |||||||
2018 | 38,277 | |||||||
Thereafter | — | |||||||
Total time deposits | $ | 2,875,238 | ||||||
ShortTerm_Borrowings
Short-Term Borrowings | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Short-term Debt [Abstract] | ' | |||||||
Short-term Borrowings | ' | |||||||
SHORT-TERM BORROWINGS | ||||||||
Short-term borrowings at December 31 are as follows: | ||||||||
2013 | 2012 | |||||||
(dollars in thousands) | ||||||||
Master notes | $ | 411,907 | $ | 399,047 | ||||
Repurchase agreements | 96,960 | 111,907 | ||||||
Notes payable to Federal Home Loan Banks | — | 55,000 | ||||||
Federal funds purchased | 2,551 | 2,551 | ||||||
Total short-term borrowings | $ | 511,418 | $ | 568,505 | ||||
At December 31, 2013, BancShares and FCB had unused credit lines allowing contingent access to overnight borrowings of up to $665.0 million on an unsecured basis. Additionally, under borrowing arrangements with the Federal Home Loan Bank of Atlanta, FCB has access to an additional $1.14 billion on a secured basis. |
LongTerm_Obligations
Long-Term Obligations | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
LONG-TERM OBLIGATIONS [Abstract] | ' | |||||||
Long-term Obligations | ' | |||||||
LONG-TERM OBLIGATIONS | ||||||||
Long-term obligations at December 31 include: | ||||||||
2013 | 2012 | |||||||
(dollars in thousands) | ||||||||
Junior subordinated debenture at 3-month LIBOR plus 1.75 percent maturing June 30, 2036 | 96,392 | 96,392 | ||||||
Subordinated notes payable at 5.125 percent maturing June 1, 2015 | 125,000 | 125,000 | ||||||
Obligations under capitalized leases extending to June 2026 | 6,515 | 10,020 | ||||||
Notes payable to Federal Home Loan Bank of Atlanta with rates ranging from 2.00 percent to 3.88 percent and maturing through September 2021 | 240,283 | 170,299 | ||||||
Note payable to the Federal Home Loan Bank of Seattle with a rate of 4.74 percent and a maturity date of July 2017 | 10,000 | 10,000 | ||||||
Unamortized acquisition accounting adjustments | 2,449 | 3,069 | ||||||
Other long-term debt | 30,130 | 30,141 | ||||||
Total long-term obligations | $ | 510,769 | $ | 444,921 | ||||
Long-term obligations maturing in each of the five years subsequent to December 31, 2013, include: | ||||||||
Year | Scheduled maturities | |||||||
(dollars in thousands) | ||||||||
2014 | $ | 2,908 | ||||||
2015 | 205,422 | |||||||
2016 | — | |||||||
2017 | 11,005 | |||||||
2018 | 121,444 | |||||||
Thereafter | 169,990 | |||||||
Total long-term obligations | $ | 510,769 | ||||||
Estimated_Fair_Values
Estimated Fair Values | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Estimated Fair Values | ' | |||||||||||||||
ESTIMATED FAIR VALUES | ||||||||||||||||
Fair value estimates are intended to represent the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. Where there is no active market for a financial instrument, BancShares has made estimates using discounted cash flow or other valuation techniques. Inputs to these valuation methods are subjective in nature, involve uncertainties and require significant judgment and therefore cannot be determined with precision. Accordingly, the derived fair value estimates presented below are not necessarily indicative of the amounts BancShares could realize in a current market exchange. | ||||||||||||||||
Assets and liabilities are recorded at fair value according to a fair value hierarchy comprised of three levels. The levels are based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. The level of an asset or liability within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement (with level 1 considered highest and level 3 considered lowest). A brief description of each level follows: | ||||||||||||||||
• | Level 1 values are based on quoted prices for identical instruments in active markets. | |||||||||||||||
• | Level 2 values are based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market. | |||||||||||||||
• | Level 3 values are generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates that market participants would use in pricing the asset or liability. Valuation techniques include the use of discounted cash flow models and similar techniques. | |||||||||||||||
The methodologies used to estimate the fair value of financial assets and financial liabilities are discussed below: | ||||||||||||||||
Investment securities. U.S.Treasury, government agency, mortgage-backed securities and state, county and municipal securities are measured at fair value using significant observable inputs such as benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities and bids/offers. The inputs used for these securities are considered level 2 inputs. Equity securities are measured at fair value using observable closing prices. Management also considers the level of market activity by examining the trade volume of each security. Due to the relatively inactive nature of the markets, the inputs used for these securities are considered level 2 inputs. | ||||||||||||||||
Loans held for sale. Fair value for loans held for sale is generally based on market prices for loans with similar characteristics or external valuations. The inputs used in the fair value measurements for loans held for sale are considered level 2 inputs. | ||||||||||||||||
Loans and leases (acquired and originated). For variable rate loans, carrying value is a reasonable estimate of fair value. For fixed rate loans, fair values are estimated based on discounted future cash flows using the current interest rates at which loans with similar terms would be made to borrowers of similar credit quality. Additional valuation adjustments are made for liquidity and credit risk. The inputs used in the fair value measurements for loans and leases are considered level 3 inputs. | ||||||||||||||||
Receivable from the FDIC for loss share agreements. Fair value is estimated based on discounted future cash flows using current discount rates. Due to post-acquisition improvements in expected losses, significant portions of the FDIC receivable will be recovered through amortization of the receivable over the remaining life of the loss share agreement rather than by cash flows from the FDIC. The estimated amounts to be amortized in future periods have no fair value. The inputs used in the fair value measurements for the FDIC receivable are considered level 3 inputs. The FDIC loss share agreements are not transferable and, accordingly, there is no market for this receivable. | ||||||||||||||||
FHLB stock. The carrying amount of FHLB stock is a reasonable estimate of fair value as these securities are not readily marketable and are evaluated for impairment based on the ultimate recoverability of the par value. BancShares considers positive and negative evidence, including the profitability and asset quality of the issuer, dividend payment history and recent redemption experience, when determining the ultimate recoverability of the par value. BancShares believes its investment in FHLB stock is ultimately recoverable at par. | ||||||||||||||||
Preferred stock issued under the TARP program. Preferred securities issued under the Troubled Asset Recovery Program are recorded at cost and are evaluated quarterly for impairment based on the ultimate recoverability of the purchase price. The fair value of these securities is derived from a third-party proprietary model that is considered to be a level 3 input. | ||||||||||||||||
Deposits. For non-time deposits and variable rate time deposits, carrying value is a reasonable estimate of fair value. The fair value of fixed rate time deposits is estimated by discounting future cash flows using the interest rates currently offered for deposits of similar remaining maturities. The inputs used in the fair value measurements for deposits are considered level 2 inputs. | ||||||||||||||||
Long-term obligations. For fixed rate trust preferred securities, the fair values are determined based on recent trades of the actual security. For other long-term obligations, fair values are estimated by discounting future cash flows using current interest rates for similar financial instruments. The inputs used in the fair value measurements for long-term obligations are considered level 2 inputs. | ||||||||||||||||
Payable to the FDIC for loss share agreements. The fair value of the payable to the FDIC for loss share agreements is determined by the projected cash flows based on expected payments to the FDIC in accordance with the loss share agreements. Cash flows are discounted to reflect the timing of the estimated amounts due to the FDIC. The inputs used in the fair value measurements for the payable to the FDIC are considered level 3 inputs. See Note T for more information on the payable to the FDIC. | ||||||||||||||||
Interest rate swap. Under the terms of the existing cash flow hedge, BancShares pays a fixed payment to the counterparty in exchange for receipt of a variable payment that is determined based on the three-month LIBOR rate. The fair value of the cash flow hedge is, therefore, based on projected LIBOR rates for the duration of the hedge, values that, while observable in the market, are subject to adjustment due to pricing considerations for the specific instrument. If the fair value of the swap is a net asset, the risk of default by the counterparty is considered in the determination of fair value and is considered a level 3 input. The inputs used in the fair value measurements of the interest rate swap are considered level 2 inputs. | ||||||||||||||||
Off-balance-sheet commitments and contingencies. Carrying amounts are reasonable estimates of the fair values for such financial instruments. Carrying amounts include unamortized fee income and, in some cases, reserves for any credit losses from those financial instruments. These amounts are not material to BancShares' financial position. | ||||||||||||||||
For all other financial assets and financial liabilities, the carrying value is a reasonable estimate of the fair value as of December 31, 2013, and December 31, 2012. The carrying value and fair value for these assets and liabilities are equivalent because they are relatively short term in nature and there is no interest rate or credit risk relating to them that would cause the fair value to differ from the carrying value. | ||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||
Carrying value | Fair value | Carrying value | Fair value | |||||||||||||
(dollars in thousands) | ||||||||||||||||
Cash and due from banks | $ | 533,599 | $ | 533,599 | $ | 639,730 | $ | 639,730 | ||||||||
Overnight investments | 859,324 | 859,324 | 443,180 | 443,180 | ||||||||||||
Investment securities available for sale | 5,387,703 | 5,387,703 | 5,226,228 | 5,226,228 | ||||||||||||
Investment securities held to maturity | 907 | 974 | 1,342 | 1,448 | ||||||||||||
Loans held for sale | 47,271 | 47,956 | 86,333 | 87,654 | ||||||||||||
Acquired loans, net of allowance for loan and lease losses | 975,906 | 956,388 | 1,669,263 | 1,635,878 | ||||||||||||
Originated loans, net of allowance for loan and lease losses | 11,924,424 | 11,589,149 | 11,397,069 | 11,238,597 | ||||||||||||
Receivable from the FDIC for loss share agreements (1) | 93,397 | 38,438 | 270,192 | 100,161 | ||||||||||||
Income earned not collected | 48,390 | 48,390 | 47,666 | 47,666 | ||||||||||||
Stock issued by: | ||||||||||||||||
Federal Home Loan Bank of Atlanta | 30,813 | 30,813 | 36,139 | 36,139 | ||||||||||||
Federal Home Loan Bank of San Francisco | 5,756 | 5,756 | 10,107 | 10,107 | ||||||||||||
Federal Home Loan Bank of Seattle | 4,250 | 4,250 | 4,410 | 4,410 | ||||||||||||
Preferred stock | 33,564 | 34,786 | 40,768 | 40,793 | ||||||||||||
Deposits | 17,874,066 | 17,898,570 | 18,086,025 | 18,126,893 | ||||||||||||
Short-term borrowings | 511,418 | 511,418 | 568,505 | 568,505 | ||||||||||||
Long-term obligations | 510,769 | 526,037 | 444,921 | 472,642 | ||||||||||||
Payable to the FDIC for loss share agreements | 109,378 | 111,941 | 101,641 | 111,679 | ||||||||||||
Accrued interest payable | 6,737 | 6,737 | 9,353 | 9,353 | ||||||||||||
Interest rate swap | 7,220 | 7,220 | 10,398 | 10,398 | ||||||||||||
(1) The fair value of the FDIC receivable excludes receivable related to accretable yield to be amortized in prospective periods. | ||||||||||||||||
Among BancShares’ assets and liabilities, investment securities available for sale and interest rate swaps accounted for as cash flow hedges are reported at their fair values on a recurring basis. Certain other assets are adjusted to their fair value on a nonrecurring basis, including loans held for sale, which are carried at the lower of cost or fair value. Impaired loans, OREO, goodwill and other intangible assets are periodically tested for impairment. Loans held for investment, deposits, short-term borrowings and long-term obligations are not reported at fair value. BancShares did not elect to voluntarily report any assets or liabilities at fair value. | ||||||||||||||||
For assets and liabilities carried at fair value on a recurring basis, the following table provides fair value information as of December 31, 2013, and December 31, 2012. | ||||||||||||||||
Fair value measurements using: | ||||||||||||||||
Fair value | Level 1 | Level 2 | Level 3 | |||||||||||||
(dollars in thousands) | ||||||||||||||||
December 31, 2013 | ||||||||||||||||
Assets measured at fair value | ||||||||||||||||
Investment securities available for sale | ||||||||||||||||
U.S. Treasury | $ | 373,437 | $ | — | $ | 373,437 | $ | — | ||||||||
Government agency | 2,544,229 | — | 2,544,229 | — | ||||||||||||
Mortgage-backed securities | 2,446,873 | — | 2,446,873 | — | ||||||||||||
Equity securities | 22,147 | — | 22,147 | — | ||||||||||||
State, county, municipal | 187 | — | 187 | — | ||||||||||||
Other | 830 | — | 830 | — | ||||||||||||
Total | $ | 5,387,703 | $ | — | $ | 5,387,703 | $ | — | ||||||||
Liabilities measured at fair value | ||||||||||||||||
Interest rate swaps accounted for as cash flow hedges | $ | 7,220 | $ | — | $ | 7,220 | $ | — | ||||||||
December 31, 2012 | ||||||||||||||||
Assets measured at fair value | ||||||||||||||||
Investment securities available for sale | ||||||||||||||||
U.S. Treasury | $ | 823,632 | $ | — | $ | 823,632 | $ | — | ||||||||
Government agency | 3,055,204 | — | 3,055,204 | — | ||||||||||||
Mortgage-backed securities | 1,329,657 | — | 1,329,657 | — | ||||||||||||
Equity securities | 16,365 | — | 16,365 | — | ||||||||||||
State, county, municipal | 550 | — | 550 | — | ||||||||||||
Other | 820 | — | 820 | — | ||||||||||||
Total | $ | 5,226,228 | $ | — | $ | 5,226,228 | $ | — | ||||||||
Liabilities measured at fair value | ||||||||||||||||
Interest rate swaps accounted for as cash flow hedges | $ | 10,398 | $ | — | $ | 10,398 | $ | — | ||||||||
During the third quarter of 2013, management reevaluated its fair value leveling methodology and the inputs utilized by the 3rd party pricing services for the current and prior periods. Management concluded that due to the reliance on significant observable inputs, the fair values of its U.S. Treasury, Government agency and other securities should be classified as level 2 rather than the level 1 previously disclosed. Management also concluded that its equity securities should be classified as level 2 rather than the level 1 previously disclosed due to the inactive nature of the markets in which these securities trade. | ||||||||||||||||
There were no transfers between levels during the years ended December 31, 2013, and 2012, other than the reclassification referenced above, which was made for all periods presented. | ||||||||||||||||
Certain financial assets and liabilities are carried at fair value on a nonrecurring basis. Loans held for sale are carried at the lower of aggregate cost or fair value and are, therefore, carried at fair value only when fair value is less than the asset cost. Certain impaired loans are also carried at fair value. Noncovered OREO that has been recently remeasured is deemed to be at fair value. For financial assets and liabilities carried at fair value on a nonrecurring basis, the following table provides fair value information as of December 31, 2013, and December 31, 2012. | ||||||||||||||||
Fair value measurements using: | ||||||||||||||||
Fair value | Level 1 | Level 2 | Level 3 | |||||||||||||
(dollars in thousands) | ||||||||||||||||
December 31, 2013 | ||||||||||||||||
Loans held for sale | $ | 29,389 | $ | — | $ | 29,389 | $ | — | ||||||||
Originated impaired loans | 73,517 | — | — | 73,517 | ||||||||||||
Other real estate not covered under loss share agreements remeasured during current year | 20,526 | — | — | 20,526 | ||||||||||||
Other real estate covered under loss share agreements remeasured during current year | 37,587 | — | — | 37,587 | ||||||||||||
December 31, 2012 | ||||||||||||||||
Loans held for sale | 65,244 | — | 65,244 | — | ||||||||||||
Originated impaired loans | 51,644 | — | — | 51,644 | ||||||||||||
Other real estate not covered under loss share agreements remeasured during current year | 21,113 | — | — | 21,113 | ||||||||||||
Other real estate covered under loss share agreements remeasured during current year | 59,545 | — | — | 61,026 | ||||||||||||
The value of loans held for sale are generally based on market prices for loans with similar characteristics or external valuations. | ||||||||||||||||
The value of impaired loans is determined by either collateral valuations or discounted present value of the expected cash flow calculations. Collateral values are determined using appraisals or other third-party value estimates of the subject property with discounts generally between 10 and 14 percent applied for estimated holding and selling costs and other external factors that may impact the marketability of the property. Impaired loans are assigned to an asset manager and monitored monthly for significant changes since the last valuation. If significant changes are noted, the asset manager orders a new valuation or adjusts the valuation accordingly. Expected cash flows are determined using expected loss rates developed from historic experience for loans with similar risk characteristics. | ||||||||||||||||
OREO is measured and reported at fair value using level 3 inputs for valuations based on unobservable criteria. The values of OREO are determined by collateral valuations. Collateral values are determined using appraisals or other third-party value estimates of the subject property with discounts generally between 10 and 14 percent applied for estimated holding and selling costs and other external factors that may impact the marketability of the property. Changes to the value of the assets between scheduled valuation dates are monitored through continued communication with brokers and monthly reviews by the asset manager assigned to each asset. The asset manager uses the information gathered from brokers and other market sources to identify any significant changes in the market or the subject property as they occur. Valuations are then adjusted or new appraisals are ordered to ensure the reported values reflect the most current information. | ||||||||||||||||
No financial liabilities were carried at fair value on a nonrecurring basis as of December 31, 2013, and December 31, 2012. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' | ||||||||||||||||||||
Employee Benefit Plans | ' | ||||||||||||||||||||
EMPLOYEE BENEFIT PLANS | |||||||||||||||||||||
BancShares sponsors benefit plans for its qualifying employees including a noncontributory defined benefit pension plan, a 401(k) savings plan and an enhanced 401(k) savings plan. These plans are qualified under the Internal Revenue Code. BancShares also maintains agreements with certain executives that provide supplemental benefits that are paid upon death or separation from service at an agreed-upon age. | |||||||||||||||||||||
Defined Benefit Pension Plan | |||||||||||||||||||||
Employees who were hired prior to April 1, 2007, and who qualify under length of service and other requirements may participate in a noncontributory defined benefit pension plan (Plan). Under the Plan, benefits are based on years of service and average earnings. BancShares made no contributions to the plan during 2013 or 2012, and does not anticipate making any contribution during 2014. | |||||||||||||||||||||
Obligations and Funded Status | |||||||||||||||||||||
The following table provides the changes in benefit obligation and plan assets and the funded status of the plan at December 31, 2013, and 2012. | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Change in benefit obligation | |||||||||||||||||||||
Benefit obligation at January 1 | $ | 580,938 | $ | 493,648 | |||||||||||||||||
Service cost | 16,332 | 14,241 | |||||||||||||||||||
Interest cost | 23,686 | 23,711 | |||||||||||||||||||
Actuarial (gain) loss | (74,060 | ) | 64,540 | ||||||||||||||||||
Benefits paid | (16,218 | ) | (15,202 | ) | |||||||||||||||||
Benefit obligation at December 31 | 530,678 | 580,938 | |||||||||||||||||||
Change in plan assets | |||||||||||||||||||||
Fair value of plan assets at January 1 | 463,005 | 429,505 | |||||||||||||||||||
Actual return on plan assets | 77,230 | 48,702 | |||||||||||||||||||
Employer contributions | — | — | |||||||||||||||||||
Benefits paid | (16,218 | ) | (15,202 | ) | |||||||||||||||||
Fair value of plan assets at December 31 | 524,017 | 463,005 | |||||||||||||||||||
Funded status at December 31 | $ | (6,661 | ) | $ | (117,933 | ) | |||||||||||||||
The amounts recognized in the consolidated balance sheets as of December 31, 2013, and 2012, consist of: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Other assets | $ | — | $ | — | |||||||||||||||||
Other liabilities | (6,661 | ) | (117,933 | ) | |||||||||||||||||
Net asset (liability) recognized | $ | (6,661 | ) | $ | (117,933 | ) | |||||||||||||||
The following table details the amounts recognized in accumulated other comprehensive income at December 31, 2013, and 2012: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Net loss (gain) | $ | 16,605 | $ | 157,147 | |||||||||||||||||
Less prior service cost | 977 | 1,187 | |||||||||||||||||||
Accumulated other comprehensive loss, excluding income taxes | $ | 17,582 | $ | 158,334 | |||||||||||||||||
The following table provides expected amortization amounts for 2014. | |||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Actuarial loss | $ | 6,184 | |||||||||||||||||||
Prior service cost | 210 | ||||||||||||||||||||
Total | $ | 6,394 | |||||||||||||||||||
The accumulated benefit obligation for the plan at December 31, 2013, and 2012, equaled $448.7 million and $485.6 million, respectively. The Plan uses a measurement date of December 31. | |||||||||||||||||||||
The projected benefit obligation exceeded the fair value of plan assets as of December 31, 2013, and 2012. The fair value of plan assets exceeded the accumulated benefit obligation as of December 31, 2013. The accumulated benefit obligation exceeded the fair value of plan assets as of December 31, 2012. | |||||||||||||||||||||
The following table shows the components of periodic benefit cost related to the pension plan and changes in plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31, 2013, 2012, and 2011. | |||||||||||||||||||||
Year ended December 31 | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Service cost | $ | 16,332 | $ | 14,241 | $ | 13,265 | |||||||||||||||
Interest cost | 23,686 | 23,711 | 23,810 | ||||||||||||||||||
Expected return on assets | (27,733 | ) | (28,478 | ) | (29,184 | ) | |||||||||||||||
Amortization of prior service cost | 210 | 210 | 210 | ||||||||||||||||||
Amortization of net actuarial loss | 16,985 | 11,026 | 6,861 | ||||||||||||||||||
Total net periodic benefit cost | 29,480 | 20,710 | 14,962 | ||||||||||||||||||
Current year actuarial (loss) gain | (123,557 | ) | 44,315 | 58,630 | |||||||||||||||||
Amortization of actuarial loss | (16,985 | ) | (11,026 | ) | (6,861 | ) | |||||||||||||||
Amortization of prior service cost | (210 | ) | (210 | ) | (210 | ) | |||||||||||||||
Total recognized in other comprehensive income | (140,752 | ) | 33,079 | 51,559 | |||||||||||||||||
Total recognized in net periodic benefit cost and other comprehensive income | $ | (111,272 | ) | $ | 53,789 | $ | 66,521 | ||||||||||||||
The assumptions used to determine the benefit obligations as of December 31, 2013, and 2012, are as follows: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Discount rate | 4.9 | % | 4 | % | |||||||||||||||||
Rate of compensation increase | 4 | 4 | |||||||||||||||||||
The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2013, 2012, and 2011, are as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Discount rate | 4 | % | 4.75 | % | 5.5 | % | |||||||||||||||
Rate of compensation increase | 4 | 4 | 4.5 | ||||||||||||||||||
Expected long-term return on plan assets | 7.25 | 7.5 | 7.75 | ||||||||||||||||||
The estimated discount rate, which represents the interest rate that could be obtained for a suitable investment used to fund the benefit obligations, is based on a yield curve developed from high-quality corporate bonds across a full maturity spectrum. The projected cash flows of the pension plan are discounted based on this yield curve and a single discount rate is calculated to achieve the same present value. | |||||||||||||||||||||
The estimated long-term rate of return on plan assets is used to calculate the value of plan assets over time. The methodology utilized to establish the estimated long-term rate of return on plan assets considers the actual return on plan assets for various time horizons since 1999 as a predictor of probable future returns. Historical returns are modified as appropriate by estimates of future market conditions that may positively or negatively affect estimated future returns. The return on plan assets for the 15-year, 10-year and 5-year periods ended December 31, 2013, equaled 6.99 percent, 8.39 percent and 13.37 percent, respectively. Based on expectations of modest returns over the next several years, the assumed rate of return for 2013 was 7.25 percent compared to 7.50 percent in 2012. | |||||||||||||||||||||
Plan Assets | |||||||||||||||||||||
BancShares' primary total return objective is to achieve returns that, over the long term, will fund retirement liabilities and provide for the desired plan benefits in a manner that satisfies the fiduciary requirements of the Employee Retirement Income Security Act. The plan assets have a long-term time horizon that runs concurrent with the average life expectancy of the participants. As such, the Plan can assume a time horizon that extends well beyond a full market cycle and can assume a reasonable level of risk. It is expected, however, that both professional investment management and sufficient portfolio diversification will smooth volatility and help to generate a reasonable consistency of return. The investments are broadly diversified among economic sector, industry, quality and size in order to reduce risk and to produce incremental return. Within approved guidelines and restrictions, the investment manager has discretion over the timing and selection of individual investments. Plan assets are currently held by FCB Trust Department. | |||||||||||||||||||||
The fair values of pension plan assets at December 31, 2013, and 2012, by asset class are as follows: | |||||||||||||||||||||
Asset Class | Market Value | Quoted prices in | Significant | Significant | Target Allocation | Actual % | |||||||||||||||
Active Markets | Observable | Nonobservable | of Plan | ||||||||||||||||||
for Identical | Inputs | Inputs | Assets | ||||||||||||||||||
Assets (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Cash and equivalents | $ | 2,517 | $ | 2,517 | $ | — | $ | — | 0 - 1% | 1 | % | ||||||||||
Equity securities | 55 - 65% | 62 | % | ||||||||||||||||||
Large cap | 218,023 | 218,023 | — | — | |||||||||||||||||
Mid cap | 10,724 | 10,724 | — | — | |||||||||||||||||
Small cap | 43,928 | 43,928 | — | — | |||||||||||||||||
International equity (developed) | 10,535 | 10,535 | — | — | |||||||||||||||||
International equity (emerging) | 40,643 | 40,643 | — | — | |||||||||||||||||
Fixed income | — | — | 25-40% | 28 | % | ||||||||||||||||
Investment grade bonds | 74,501 | — | 74,501 | — | |||||||||||||||||
Intermediate bonds | 48,746 | — | 48,746 | — | |||||||||||||||||
High-yield corporate bonds | 10,111 | — | 10,111 | — | |||||||||||||||||
TIPS | 4,395 | 4,395 | — | — | |||||||||||||||||
International emerging bond | 10,119 | — | 10,119 | — | |||||||||||||||||
Alternative investments | 0-10% | 10 | % | ||||||||||||||||||
Commodities | 19,014 | 19,014 | — | — | |||||||||||||||||
Hedge fund composite | 30,761 | 30,761 | — | ||||||||||||||||||
Total pension assets | $ | 524,017 | $ | 380,540 | $ | 143,477 | $ | — | 100 | % | |||||||||||
December 31, 2012 | |||||||||||||||||||||
Cash and equivalents | $ | 3,088 | $ | 3,088 | — | — | 0 - 1% | 1 | % | ||||||||||||
Equity securities | 55 - 65% | 56 | % | ||||||||||||||||||
Large cap | 172,512 | 172,512 | — | — | |||||||||||||||||
Mid cap | 21,451 | 21,451 | — | — | |||||||||||||||||
Small cap | 31,053 | 31,053 | — | — | |||||||||||||||||
International equity (developed) | 9,537 | 9,537 | — | — | |||||||||||||||||
International equity (emerging) | 24,276 | 24,276 | — | — | |||||||||||||||||
Fixed income | 36-44% | 36 | % | ||||||||||||||||||
Investment grade bonds | 71,986 | — | 71,986 | — | |||||||||||||||||
Intermediate bonds | 59,052 | — | 59,052 | — | |||||||||||||||||
High-yield corporate bonds | 18,487 | — | 18,487 | — | |||||||||||||||||
TIPS | 7,613 | 7,613 | — | — | |||||||||||||||||
International emerging bond | 9,348 | — | 9,348 | — | |||||||||||||||||
Alternative investments | — | — | — | 0-8% | 8 | % | |||||||||||||||
Commodities | 17,376 | 17,376 | — | — | |||||||||||||||||
Hedge fund composite | 17,226 | 17,226 | — | ||||||||||||||||||
Total pension assets | $ | 463,005 | $ | 304,132 | $ | 158,873 | $ | — | 100 | % | |||||||||||
Cash Flows | |||||||||||||||||||||
BancShares anticipates making no contributions to the pension plan during 2014. Following are estimated payments to pension plan participants in the indicated periods: | |||||||||||||||||||||
Year | Projected benefit payments | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
2014 | $ | 18,070 | |||||||||||||||||||
2015 | 19,662 | ||||||||||||||||||||
2016 | 21,484 | ||||||||||||||||||||
2017 | 23,244 | ||||||||||||||||||||
2018 | 24,937 | ||||||||||||||||||||
2019-2023 | 150,638 | ||||||||||||||||||||
401(k) Savings Plans | |||||||||||||||||||||
Certain employees enrolled in the defined benefit plan are also eligible to participate in a 401(k) savings plan after 31 days of service through deferral of portions of their salary. For employees who participate in the 401(k) savings plan who also continue to accrue additional years of service under the defined benefit plan, based on the employee’s contribution, BancShares matches up to 75 percent of the employee contribution. | |||||||||||||||||||||
At the end of 2007, current employees were given the option to continue to accrue additional years of service under the defined benefit plan or to elect to join an enhanced 401(k) savings plan. Under the enhanced 401(k) savings plan, based on the employee’s contribution, BancShares matches up to 100 percent of the employee contribution. In addition to the employer match of the employee contributions, the enhanced 401(k) savings plan provides a guaranteed contribution to plan participants if they remain employed at the end of each calendar year. Employees who elected to enroll in the enhanced 401(k) savings plan discontinued the accrual of additional years of service under the defined benefit plan and became enrolled in the enhanced 401(k) savings plan effective January 1, 2008. Eligible employees hired after January 1, 2008, have the option to elect to participate in the enhanced 401(k) savings plan. | |||||||||||||||||||||
BancShares made participating contributions to both 401(k) plans totaling $14.9 million, $14.1 million and $13.6 million during 2013, 2012 and 2011, respectively. | |||||||||||||||||||||
Additional Benefits for Executives and Directors and Officers of Acquired Entities | |||||||||||||||||||||
FCB has entered into contractual agreements with certain executives that provide payments for a period of ten years following separation from service at an agreed-upon age. These agreements also provide a death benefit in the event a participant dies before the term of the agreement ends. FCB has also assumed liability for contractual obligations to directors and officers of previously-acquired entities. | |||||||||||||||||||||
The following table provides the accrued liability as of December 31, 2013, and 2012, and the changes in the accrued liability during the years then ended: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Present value of accrued liability as of January 1 | $ | 25,851 | $ | 25,586 | |||||||||||||||||
Benefit expense | 959 | 462 | |||||||||||||||||||
Benefits paid | (3,042 | ) | (3,241 | ) | |||||||||||||||||
Benefits forfeited | — | 554 | |||||||||||||||||||
Interest cost | 192 | 2,490 | |||||||||||||||||||
Present value of accrued liability as of December 31 | $ | 23,960 | $ | 25,851 | |||||||||||||||||
Discount rate at December 31 | 4.9 | % | 4 | % |
Other_Noninterest_Income_and_O
Other Noninterest Income and Other Noninterest Expense | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Noninterest Expense [Abstract] | ' | |||||||||||
Other Noninterest Income and Other Noninterest Expense | ' | |||||||||||
OTHER NONINTEREST INCOME AND OTHER NONINTEREST EXPENSE | ||||||||||||
Recoveries of acquired loans previously charged off are included within other noninterest income. These recoveries totaled $29.7 million, $10.5 million and $13.5 million for years ended December 31, 2013, 2012, and 2011, respectively. | ||||||||||||
Other noninterest expense for the years ended December 31, 2013, 2012, and 2011, included the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(dollars in thousands) | ||||||||||||
Cardholder processing | $ | 9,892 | $ | 11,816 | $ | 11,418 | ||||||
Merchant processing | 35,279 | 33,313 | 37,196 | |||||||||
Collection | 21,209 | 25,591 | 23,237 | |||||||||
Processing fees paid to third parties | 15,095 | 14,454 | 16,336 | |||||||||
Cardholder reward programs | 10,154 | 4,325 | 11,780 | |||||||||
Telecommunications | 10,033 | 11,131 | 12,131 | |||||||||
Consultant | 9,740 | 3,915 | 3,021 | |||||||||
Advertising | 8,286 | 3,897 | 7,957 | |||||||||
Other | 73,700 | 71,369 | 81,860 | |||||||||
Total other noninterest expense | $ | 193,388 | $ | 179,811 | $ | 204,936 | ||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
INCOME TAXES | ||||||||||||
At December 31, income tax expense consisted of the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(dollars in thousands) | ||||||||||||
Current tax expense | ||||||||||||
Federal | $ | 41,996 | $ | 85,875 | $ | 108,639 | ||||||
State | 7,080 | 9,212 | 23,101 | |||||||||
Total current tax expense | 49,076 | 95,087 | 131,740 | |||||||||
Deferred tax expense (benefit) | ||||||||||||
Federal | 38,974 | (27,344 | ) | (12,127 | ) | |||||||
State | 8,915 | (7,921 | ) | (4,510 | ) | |||||||
Total deferred tax expense (benefit) | 47,889 | (35,265 | ) | (16,637 | ) | |||||||
Total income tax expense | $ | 96,965 | $ | 59,822 | $ | 115,103 | ||||||
Income tax expense differed from the amounts computed by applying the federal income tax rate of 35 percent to pretax income as a result of the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(dollars in thousands) | ||||||||||||
Income taxes at statutory rates | $ | 92,633 | $ | 67,959 | $ | 108,546 | ||||||
Increase (reduction) in income taxes resulting from: | ||||||||||||
Nontaxable income on loans, leases and investments, net of nondeductible expenses | (1,185 | ) | (1,309 | ) | (1,481 | ) | ||||||
State and local income taxes, including change in valuation allowance, net of federal income tax benefit | 10,397 | 839 | 12,084 | |||||||||
Tax credits | (5,569 | ) | (7,279 | ) | (5,166 | ) | ||||||
Other, net | 689 | (388 | ) | 1,120 | ||||||||
Total income tax expense | $ | 96,965 | $ | 59,822 | $ | 115,103 | ||||||
During the third quarter of 2013, BancShares adjusted its net deferred tax asset as a result of reductions in the North Carolina corporate income tax rate that were enacted July 23, 2013, and will become effective January 1, 2014, and January 1, 2015. The lower corporate income tax rate resulted in a reduction in the deferred tax asset and an increase in current period income tax expense. The lower effective tax rate for 2012 also reflects the impact of a $6.4 million credit to income tax expense resulting from the favorable outcome of state tax audits for the period 2008-2010, net of additional federal taxes. | ||||||||||||
The net deferred tax asset included the following components at December 31: | ||||||||||||
2013 | 2012 | |||||||||||
(dollars in thousands) | ||||||||||||
Allowance for loan and lease losses | $ | 90,790 | $ | 124,928 | ||||||||
Pension liability | 2,593 | 46,178 | ||||||||||
Executive separation from service agreements | 9,940 | 10,123 | ||||||||||
State operating loss carryforward | 79 | 652 | ||||||||||
Unrealized loss on cash flow hedge | 2,786 | 4,106 | ||||||||||
Net unrealized loss on securities included in accumulated other comprehensive loss | 6,541 | — | ||||||||||
Other | 17,884 | 19,465 | ||||||||||
Deferred tax asset | 130,613 | 205,452 | ||||||||||
Accelerated depreciation | 6,226 | 12,465 | ||||||||||
Lease financing activities | 10,216 | 10,366 | ||||||||||
Net unrealized gains on securities included in accumulated other comprehensive loss | — | 13,292 | ||||||||||
Net deferred loan fees and costs | 4,115 | 3,714 | ||||||||||
Intangible asset | 11,929 | 11,897 | ||||||||||
Gain on FDIC-assisted transactions, deferred for tax purposes | 57,895 | 29,694 | ||||||||||
Other | 6,352 | 5,373 | ||||||||||
Deferred tax liability | 96,733 | 86,801 | ||||||||||
Net deferred tax asset | $ | 33,880 | $ | 118,651 | ||||||||
No valuation allowance was necessary as of December 31, 2013, to reduce BancShares’ gross state deferred tax asset to the amount that is more likely than not to be realized. | ||||||||||||
BancShares and its subsidiaries' federal income tax returns for 2010 through 2012 remain open for examination. Generally, the state jurisdictions in which BancShares files income tax returns are subject to examination for a period up to four years after returns are filed. | ||||||||||||
Under GAAP, the 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 based on its technical merit. The liability for unrecognized tax benefits was not material at December 31, 2013, and 2012, and changes in the liability were not material during 2013, 2012 and 2011. BancShares does not expect the liability for unrecognized tax benefits to change significantly during 2014. BancShares recognizes interest and penalties, if any, related to income tax matters in income tax expense, and the amounts recognized during 2013, 2012 and 2011 were not material. |
Transactions_with_Related_Pers
Transactions with Related Persons | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Related Party Transactions [Abstract] | ' | |||
Transactions with related persons | ' | |||
TRANSACTIONS WITH RELATED PERSONS | ||||
BancShares and FCB have had, and expect to have in the future, banking transactions in the ordinary course of business with directors, officers and their associates (Related Persons) and entities that are controlled by Related Persons. | ||||
For those identified as Related Persons as of December 31, 2013, the following table provides an analysis of changes in the loans outstanding during 2013: | ||||
(dollars in thousands) | ||||
Balance at January 1, 2013 | $ | 1,311 | ||
New loans | 605 | |||
Repayments | (91 | ) | ||
Balance at December 31, 2013 | $ | 1,825 | ||
Unfunded loan commitments available to Related Persons totaled $5.5 million and $4.4 million as of December 31, 2013, and 2012, respectively. | ||||
During 2013, 2012 and 2011, fees from processing services included $21.6 million, $33.7 million and $34.5 million, respectively, for services rendered to entities controlled by Related Persons. The amounts recorded from the largest individual institution totaled $20.4 million, $22.8 million and $23.5 million for 2013, 2012 and 2011, respectively. Prior to 2013, BancShares provided various processing and operational services to other financial institutions, some of which are controlled by Related Persons. During the first quarter of 2013, BancShares sold its rights and most of its obligations under various service agreements with client banks, including two banks that are controlled by Related Persons. BancShares retained the processing services relationship with the largest client bank, which is controlled by Related Persons. | ||||
Investment securities available for sale include an investment in a financial institution controlled by Related Persons. This investment had a carrying value of $21.6 million and $16.1 million at December 31, 2013, and 2012, respectively. The investment had a cost of $452,000 at December 31, 2013, and $452,000 at December 31, 2012. |
Derivatives
Derivatives | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Summary of Derivative Instruments [Abstract] | ' | |||||||||||||||
Derivatives | ' | |||||||||||||||
DERIVATIVE | ||||||||||||||||
At December 31, 2013, BancShares had an interest rate swap that qualifies as a cash flow hedge under GAAP. For all periods presented, the fair value of the outstanding derivative is included in other liabilities in the consolidated balance sheets, and the net change in fair value is included in the consolidated statements of cash flows under the caption net change in other liabilities. | ||||||||||||||||
The following table provides the notional amount of the interest rate swap and the fair value of the liability as of December 31, 2013, and 2012. | ||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||
Notional | Estimated fair value of liability | Notional | Estimated fair value of liability | |||||||||||||
amount | amount | |||||||||||||||
(dollars in thousands) | ||||||||||||||||
2011 interest rate swap hedging variable rate exposure on trust preferred securities 2011-2016 | $ | 93,500 | $ | 7,220 | $ | 93,500 | $ | 10,398 | ||||||||
The interest rate swap is used for interest rate risk management purposes and converts variable-rate exposure on outstanding debt to a fixed rate. The interest rate swap has a notional amount of $93.5 million, representing the amount of variable rate trust preferred capital securities issued during 2006 and still outstanding at the swap inception date. The interest rate swap hedges interest payments through June 2016 and requires fixed-rate payments by BancShares at 5.50 percent in exchange for variable-rate payments of 175 basis points above the three-month LIBOR, which is equal to the interest paid to the holders of the trust preferred capital securities. Settlement of the swap occurs quarterly. As of December 31, 2013, and 2012, collateral with a fair value of $7.0 million and $9.7 million, respectively, was pledged to secure the existing obligation under the interest rate swap. | ||||||||||||||||
For cash flow hedges, the effective portion of the gain or loss due to changes in the fair value of the derivative hedging instrument is included in other comprehensive income (loss), while the ineffective portion, representing the excess of the cumulative change in the fair value of the derivative over the cumulative change in expected future discounted cash flows on the hedged transaction, is recorded in the consolidated income statement. BancShares’ interest rate swap has been fully effective since inception. Therefore, changes in the fair value of the interest rate swap have had no impact on net income. For the years ended December 31, 2013, 2012, and 2011, BancShares recognized interest expense of $3.3 million, $3.1 million and $4.6 million, respectively, resulting from incremental interest paid to the interest rate swap counterparty, none of which related to ineffectiveness. | ||||||||||||||||
The estimated net amount in accumulated other comprehensive loss at December 31, 2013, that is expected to be reclassified into earnings within the next 12 months is a net after-tax loss of $1.9 million. | ||||||||||||||||
BancShares monitors the credit risk of the interest rate swap counterparty. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||
Goodwill and Intangible Assets | ' | |||||||
GOODWILL AND INTANGIBLE ASSETS | ||||||||
There was no goodwill activity during 2013 and 2012. Goodwill totaled $102.6 million at December 31, 2013, and 2012, with no impairment recorded during 2013, 2012 and 2011. | ||||||||
GAAP requires that goodwill be tested each year to determine if goodwill is impaired. The goodwill impairment test requires a two-step method to evaluate and calculate impairment. The first step requires estimation of the reporting unit’s fair value. If the fair value exceeds the carrying value, no further testing is required. If the carrying value exceeds the fair value, a second step is performed to determine whether an impairment charge must be recorded and, if so, the amount of such charge. | ||||||||
BancShares performs annual impairment tests as of July 31 each year. After the first step for 2013 and 2012, no further analysis was required as there was no indication of impairment. | ||||||||
The following information relates to other intangible assets, all of which are being amortized over their estimated useful lives: | ||||||||
2013 | 2012 | |||||||
(dollars in thousands) | ||||||||
Balance at January 1 | $ | 3,556 | $ | 7,032 | ||||
Amortization | (2,309 | ) | (3,476 | ) | ||||
Balance at December 31 | $ | 1,247 | $ | 3,556 | ||||
Intangible assets generated by FDIC-assisted transactions, which represent the estimated fair value of core deposits and other customer relationships that were acquired, are being amortized over a four-year life on an accelerated basis. The gross amount of other intangible assets and accumulated amortization as of December 31, 2013, and 2012, are: | ||||||||
2013 | 2012 | |||||||
(dollars in thousands) | ||||||||
Gross balance | $ | 18,966 | $ | 18,966 | ||||
Accumulated amortization | (17,719 | ) | (15,410 | ) | ||||
Carrying value | $ | 1,247 | $ | 3,556 | ||||
Based on current estimated useful lives and carrying values, BancShares anticipates amortization expense for intangible assets in subsequent periods will be: | ||||||||
Year | Amortization expense | |||||||
(dollars in thousands) | ||||||||
2014 | $ | 1,122 | ||||||
2015 | 125 | |||||||
$ | 1,247 | |||||||
Shareholders_Equity_Dividends_
Shareholders' Equity, Dividends Restrictions and Other Regulatory Matters | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Regulatory Capital Requirements [Abstract] | ' | |||||||||||||||||||
Shareholders' Equity, Dividend Restrictions and Other Regulatory Matters | ' | |||||||||||||||||||
SHAREHOLDERS' EQUITY, DIVIDEND RESTRICTIONS AND OTHER REGULATORY MATTERS | ||||||||||||||||||||
Various regulatory agencies have established guidelines that evaluate capital adequacy based on risk-weighted adjusted assets. An additional capital computation evaluates tangible capital based on tangible assets. Minimum capital requirements currently set forth by the regulatory agencies require a tier 1 capital ratio of no less than 4 percent of risk-weighted assets, a total capital ratio of no less than 8 percent of risk-weighted assets and a leverage capital ratio of no less than 3 percent of tangible assets. To meet the FDIC’s well-capitalized standards, the tier 1 and total capital ratios must be at least 6 percent and 10 percent, respectively, while the leverage ratio must equal 5 percent. Failure to meet minimum capital requirements may result in certain actions by regulators that could have a direct material effect on the consolidated financial statements. | ||||||||||||||||||||
Based on the most recent notifications from its regulators, FCB is well-capitalized under the regulatory framework for prompt corrective action. Management believes that as of December 31, 2013, BancShares and FCB met all capital adequacy requirements to which they are subject and was not aware of any conditions or events that would affect FCB’s well-capitalized status. | ||||||||||||||||||||
Following is an analysis of capital ratios for BancShares and FCB as of December 31, 2013, and 2012: | ||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||
Amount | Ratio | Requirements to be well-capitalized | Amount | Ratio | Requirements to be well-capitalized | |||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
BancShares | ||||||||||||||||||||
Tier 1 capital | $ | 2,109,139 | 14.92 | % | 6 | % | $ | 1,949,985 | 14.27 | % | 6 | % | ||||||||
Total capital | 2,320,792 | 16.42 | % | 10 | % | 2,179,370 | 15.95 | % | 10 | % | ||||||||||
Leverage capital | 2,109,139 | 9.82 | % | 5 | % | 1,949,985 | 9.23 | % | 5 | % | ||||||||||
FCB | ||||||||||||||||||||
Tier 1 capital | 1,983,349 | 14.14 | % | 6 | % | 1,942,101 | 14.37 | % | 6 | % | ||||||||||
Total capital | 2,184,461 | 15.57 | % | 10 | % | 2,163,034 | 16 | % | 10 | % | ||||||||||
Leverage capital | 1,983,349 | 9.36 | % | 5 | % | 1,942,101 | 9.34 | % | 5 | % | ||||||||||
As of December 31, 2013, BancShares had $93.5 million of trust preferred capital securities included in tier 1 capital. Beginning January 1, 2015, 75 percent of BancShares' trust preferred capital securities will be excluded from tier 1 capital, with the remaining 25 percent phased out January 1, 2016. Elimination of all trust preferred capital securities from the December 31, 2013, capital structure would result in a proforma tier 1 leverage capital ratio of 9.38 percent, a tier 1 risk-based capital ratio of 14.26 percent and a total risk-based capital ratio of 15.76 percent. On a proforma basis assuming disallowance of all trust preferred capital securities, BancShares and FCB continue to remain well-capitalized under current regulatory guidelines. | ||||||||||||||||||||
Tier 2 capital of BancShares and FCB includes qualifying subordinated debt that was issued in 2005 with a scheduled maturity date of June 1, 2015. Under current regulatory guidelines, when subordinated debt is within five years of its scheduled maturity date, issuers must discount the amount included in tier 2 capital by 20 percent for each year until the debt matures. The amount of subordinated debt that qualifies as tier 2 capital totaled $25.0 million as of December 31, 2013, compared to $50.0 million at December 31, 2012. Subordinated debt will be completely removed from tier 2 capital in the second quarter of 2014, one year prior to the scheduled maturity of the subordinated debt. | ||||||||||||||||||||
In July 2013, Bank regulatory agencies approved new global regulatory capital guidelines (Basel) aimed at strengthening existing capital requirements for bank holding companies through a combination of higher minimum capital requirements, new capital conservation buffers and more conservative definitions of capital and balance sheet exposure. When fully implemented in January 2019, the rule includes a minimum ratio of common equity tier 1 capital to risk-weighted assets of 4.5 percent and a common equity tier 1 capital conservation buffer of 2.5 percent of risk-weighted assets, totaling 7 percent. The rule also raises the minimum ratio of tier 1 capital to risk-weighted assets from 4 percent to 6 percent and includes a minimum leverage ratio of 4 percent. | ||||||||||||||||||||
Additionally, trust preferred securities and cumulative preferred securities are required to be phased out of tier 1 capital by 2016. The inclusion of accumulated other comprehensive income in tier 1 common equity, as described in the proposed rules, is only applicable for institutions larger than $50 billion in assets. | ||||||||||||||||||||
Management continues to monitor Basel developments and remains committed to managing capital levels in a prudent manner. BancShares' tier 1 common equity ratio based on the current tier 1 capital and risk-weighted assets calculations, excluding trust preferred securities, is 14.26 percent at December 31, 2013, compared to the fully phased-in Federal Reserve standards of 7.00 percent. | ||||||||||||||||||||
BancShares has two classes of common stock—Class A common and Class B common. Shares of Class A common have one vote per share, while shares of Class B common have 16 votes per share. | ||||||||||||||||||||
During the second quarter of 2013, BancShares' board granted authority to purchase up to 100,000 and 25,000 shares of Class A and Class B common stock, respectively, beginning on July 1, 2013, and continuing through June 30, 2014. As of December 31, 2013, no purchases had occurred pursuant to that authorization. | ||||||||||||||||||||
During 2012, the Board of Directors granted authority to purchase up to 100,000 and 25,000 shares of Class A and Class B common stock, respectively, during the period from July 1, 2012, through June 30, 2013. That authority replaced similar plans approved by the Board during 2011 that were in effect during the twelve months preceding July 1, 2012. Pursuant to those plans, during 2012, BancShares purchased and retired an aggregate of 56,276 shares of Class A common stock and 100 shares of Class B common stock. | ||||||||||||||||||||
Additionally, pursuant to separate authorizations, during 2012, BancShares purchased and retired 606,829 shares of Class B common stock in privately negotiated transactions, including purchases of 593,954 shares during December 2012 from a director and certain of her related interests. The December 2012 stock purchase was approved by BancShares' independent directors, after review and recommendation by a special committee of independent directors. | ||||||||||||||||||||
The Board of Directors of FCB may declare a dividend on a portion of its undivided profits as it deems appropriate, subject to the requirements of the FDIC and the General Statutes of North Carolina, without prior regulatory approval. As of December 31, 2013, the amount was $1.41 billion. However, to preserve its well-capitalized status, the maximum amount of the dividend was limited to $781.3 million. Dividends declared by FCB amounted to $131.0 million in 2013, $179.6 million in 2012 and $82.8 million in 2011. | ||||||||||||||||||||
BancShares and FCB are subject to various requirements imposed by state and federal banking statutes and regulations, including regulations requiring the maintenance of noninterest-bearing reserve balances at the Federal Reserve Bank. Banks are allowed to reduce the required balances by the amount of vault cash. For 2013, the requirements averaged $313.4 million. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
COMMITMENTS AND CONTINGENCIES | |
To meet the financing needs of its customers, BancShares and its subsidiaries have financial instruments with off-balance sheet risk. These financial instruments include commitments to extend credit, standby letters of credit and recourse obligations on mortgage loans sold. These instruments involve elements of credit, interest rate or liquidity risk. | |
Commitments to extend credit are legally binding agreements to lend to customers. Commitments generally have fixed expiration dates or other termination clauses and may require payment of fees. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future liquidity requirements. Established credit standards control the credit risk exposure associated with these commitments. In some cases, BancShares requires that collateral be pledged to secure the commitment, including cash deposits, securities and other assets. At December 31, 2013, BancShares had unused commitments totaling $5.84 billion, compared to $5.47 billion at December 31, 2012. | |
Standby letters of credit are commitments guaranteeing performance of a customer to a third party. Those guarantees are issued primarily to support public and private borrowing arrangements. To minimize its exposure, BancShares’ credit policies govern the issuance of standby letters of credit. At December 31, 2013, and 2012, BancShares had standby letters of credit amounting to $54.8 million and $63.1 million, respectively. The credit risk related to the issuance of these letters of credit is essentially the same as that involved in extending loans to clients and, therefore, these letters of credit are collateralized when necessary. | |
Residential mortgage loans are sold with standard representations and warranties relating to documentation and underwriting requirements for the loans. If deficiencies are discovered at any point in the life of the loan, the investor may require BancShares to repurchase the loan. As of December 31, 2013, and 2012, other liabilities included a reserve of $3.6 million and $4.1 million, respectively, for estimated losses arising from the repurchase of loans under these provisions. | |
In addition to standard representations and warranties, residential mortgage loans sold with limited recourse liability represent guarantees to repurchase the loans or repay a portion of the sale proceeds in the event of nonperformance by the borrower. The recourse period is generally 120 days or fewer after sale. At December 31, 2013, and 2012, BancShares has sold loans of approximately $156.1 million and $205.9 million, respectively, for which the recourse period had not yet elapsed. | |
BancShares has recorded a receivable from the FDIC for the expected reimbursement of losses on assets covered under the various loss share agreements. These loss share agreements impose certain obligations on us that, in the event of noncompliance, could result in the delay or disallowance of some or all of our rights under those agreements. Requests for reimbursement are subject to FDIC review and may be delayed or disallowed for noncompliance. The loss share agreements are subject to interpretation by both the FDIC and FCB, and disagreements may arise regarding coverage of losses, expenses and contingencies. | |
The loss share agreements for four FDIC-assisted transactions include provisions related to contingent payments that may be owed to the FDIC at the termination of the agreements (clawback liability).The clawback liability represents an estimated payment by BancShares to the FDIC if actual cumulative losses on acquired covered assets are lower than the cumulative losses originally estimated by the FDIC at the time of acquisition. The clawback liability is estimated by discounting estimated future payments and is recorded in the Consolidated Balance Sheets as a payable to the FDIC for loss share agreements. As of December 31, 2013, and 2012, the clawback liability was $109.4 million and $101.6 million, respectively. | |
BancShares and various subsidiaries have been named as defendants in legal actions arising from their normal business activities in which damages in various amounts are claimed. BancShares is also exposed to litigation risk relating to the prior business activities of banks from which assets were acquired and liabilities assumed in the various FDIC-assisted transactions. Although the amount of any ultimate liability with respect to such matters cannot be determined, in the opinion of management, any such liability will not have a material effect on BancShares’ consolidated financial statements. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||||||||||||
Accumulated Other Comprehensive Loss | ' | |||||||||||||||||||||||
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||||||
Accumulated other comprehensive income (loss) included the following as of December 31, 2013, and December 31, 2012: | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Accumulated | Deferred | Accumulated | Accumulated | Deferred | Accumulated | |||||||||||||||||||
other | tax | other | other | tax | other | |||||||||||||||||||
comprehensive | benefit | comprehensive | comprehensive | expense | comprehensive | |||||||||||||||||||
loss | loss, | income (loss) | (benefit) | income (loss), | ||||||||||||||||||||
net of tax | net of tax | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Unrealized (losses) gains on investment securities available for sale | $ | (16,632 | ) | $ | (6,541 | ) | $ | (10,091 | ) | $ | 33,809 | $ | 13,292 | $ | 20,517 | |||||||||
Unrealized loss on cash flow hedge | (7,220 | ) | (2,786 | ) | (4,434 | ) | (10,398 | ) | (4,106 | ) | (6,292 | ) | ||||||||||||
Funded status of defined benefit plan | (17,582 | ) | (6,839 | ) | (10,743 | ) | (158,334 | ) | (62,003 | ) | (96,331 | ) | ||||||||||||
Total | $ | (41,434 | ) | $ | (16,166 | ) | $ | (25,268 | ) | $ | (134,923 | ) | $ | (52,817 | ) | $ | (82,106 | ) | ||||||
The following table highlights changes in accumulated other comprehensive income (loss) by component for the years ended December 31, 2013, and 2012: | ||||||||||||||||||||||||
Unrealized gains and losses on available-for-sale securities1 | Gains and losses on cash flow hedges1 | Defined benefit pension items1 | Total | |||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Balance at January 1, 2012 | $ | 16,115 | $ | (6,483 | ) | $ | (76,206 | ) | $ | (66,574 | ) | |||||||||||||
Other comprehensive income (loss) before reclassifications | 5,807 | (1,682 | ) | (26,961 | ) | (22,836 | ) | |||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (1,405 | ) | 1,873 | 6,836 | 7,304 | |||||||||||||||||||
Net current period other comprehensive income (loss) | 4,402 | 191 | (20,125 | ) | (15,532 | ) | ||||||||||||||||||
Balance at December 31, 2012 | 20,517 | (6,292 | ) | (96,331 | ) | (82,106 | ) | |||||||||||||||||
Other comprehensive income (loss) before reclassifications | (30,608 | ) | (60 | ) | 75,082 | 44,414 | ||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | — | 1,918 | 10,506 | 12,424 | ||||||||||||||||||||
Net current period other comprehensive income (loss) | (30,608 | ) | 1,858 | 85,588 | 56,838 | |||||||||||||||||||
Balance at December 31, 2013 | $ | (10,091 | ) | $ | (4,434 | ) | $ | (10,743 | ) | $ | (25,268 | ) | ||||||||||||
1 All amounts are net of tax. Amounts in parentheses indicate debits. | ||||||||||||||||||||||||
Details about accumulated other comprehensive loss | Amount reclassified from accumulated other comprehensive loss1 | Affected line item in the statement where net income is presented | ||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||||||
Unrealized gains and losses on available for sale securities | ||||||||||||||||||||||||
$ | — | Securities gains (losses) | ||||||||||||||||||||||
— | Income taxes | |||||||||||||||||||||||
$ | — | Net income | ||||||||||||||||||||||
Gains and losses on cash flow hedges | ||||||||||||||||||||||||
Interest rate swap contracts | $ | (3,281 | ) | Long-term obligations | ||||||||||||||||||||
1,363 | Income taxes | |||||||||||||||||||||||
$ | (1,918 | ) | Net income | |||||||||||||||||||||
Amortization of defined benefit pension items | ||||||||||||||||||||||||
Prior service costs | $ | (210 | ) | Employee benefits | ||||||||||||||||||||
Actuarial losses | (16,985 | ) | Employee benefits | |||||||||||||||||||||
(17,195 | ) | Income before income taxes | ||||||||||||||||||||||
6,689 | Income taxes | |||||||||||||||||||||||
$ | (10,506 | ) | Net income | |||||||||||||||||||||
Total reclassifications for the period | $ | (12,424 | ) | |||||||||||||||||||||
Year ended December 31, 2012 | ||||||||||||||||||||||||
Unrealized gains and losses on available for sale securities | ||||||||||||||||||||||||
$ | 2,322 | Securities gains (losses) | ||||||||||||||||||||||
(917 | ) | Income taxes | ||||||||||||||||||||||
$ | 1,405 | Net income | ||||||||||||||||||||||
Gains and losses on cash flow hedges | ||||||||||||||||||||||||
Interest rate swap contracts | $ | (3,095 | ) | Long-term obligations | ||||||||||||||||||||
1,222 | Income taxes | |||||||||||||||||||||||
$ | (1,873 | ) | Net income | |||||||||||||||||||||
Amortization of defined benefit pension items | ||||||||||||||||||||||||
Prior service costs | $ | (210 | ) | Employee benefits | ||||||||||||||||||||
Actuarial losses | (11,026 | ) | Employee benefits | |||||||||||||||||||||
(11,236 | ) | Income before income taxes | ||||||||||||||||||||||
4,400 | Income taxes | |||||||||||||||||||||||
$ | (6,836 | ) | Net income | |||||||||||||||||||||
Total reclassifications for the period | $ | (7,304 | ) | |||||||||||||||||||||
1 Amounts in parentheses indicate debits to profit/loss. |
Subsequent_Events_Notes
Subsequent Events (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Subsequent Events [Abstract] | ' | |||||||||||
Subsequent Events | ' | |||||||||||
SUBSEQUENT EVENTS | ||||||||||||
On January 1, 2014, FCB completed its merger with 1st Financial Services Corporation (1st Financial) of Hendersonville, NC and its wholly-owned subsidiary, Mountain 1st Bank & Trust Company (Mountain 1st). The merger allows FCB to expand its presence in Western North Carolina. Mountain 1st had 12 branches located in Asheville, Brevard, Columbus, Etowah, Fletcher, Forest City, Hendersonville, Hickory, Marion, Shelby and Waynesville. Following the merger, FCB applied for permission to close seven Mountain 1st branches due to their proximity to existing FCB branches. Once regulatory approvals have been received, customers have been notified and waiting periods have expired, Mountain 1st branches in Asheville, Brevard, Fletcher, Forest City, Hendersonville, Hickory and Marion will be closed, and customer relationships assigned to those branches will be transferred to the nearest FCB branch. | ||||||||||||
First Citizens paid $10.0 million to acquire 1st Financial, including payments of $8.0 million to the U.S. Treasury to satisfy 1st Financial's Troubled Asset Relief Program (TARP) obligation and $2.0 million paid to the shareholders of 1st Financial. | ||||||||||||
The 1st Financial merger was accounted for under the acquisition method of accounting. The purchased assets, assumed liabilities and identifiable intangible assets were recorded at their acquisition date estimated fair values. Fair values are subject to refinement for up to one year after the closing date of the transaction as additional information regarding closing date fair values becomes available. | ||||||||||||
The following table provides the carrying value of acquired assets and assumed liabilities, as recorded by 1st Financial, the fair value adjustments calculated at the time of the acquisition, and the resulting fair value recorded by FCB. | ||||||||||||
January 1, 2014 | ||||||||||||
As recorded by | Fair value adjustments | As recorded by FCB | ||||||||||
1st Financial | ||||||||||||
(dollars in thousands) | ||||||||||||
Assets | ||||||||||||
Cash and cash equivalents | $ | 28,194 | $ | — | $ | 28,194 | ||||||
Investment securities available for sale | 246,890 | (9,452 | ) | 237,438 | ||||||||
Loans held for sale | 1,183 | — | 1,183 | |||||||||
Restricted equity securities | 3,105 | 671 | 3,776 | |||||||||
Loans | 338,170 | (21,843 | ) | 316,327 | ||||||||
Less: allowance for loan losses | (7,796 | ) | 7,796 | — | ||||||||
Premises and equipment | 3,871 | (1,185 | ) | 2,686 | ||||||||
Other real estate owned | 12,896 | (1,305 | ) | 11,591 | ||||||||
Intangible asset | — | 3,780 | 3,780 | |||||||||
Other assets | 16,811 | (465 | ) | 16,346 | ||||||||
Total assets acquired | $ | 643,324 | $ | (22,003 | ) | $ | 621,321 | |||||
Liabilities | ||||||||||||
Deposits: | ||||||||||||
Noninterest-bearing | $ | 152,444 | $ | — | $ | 152,444 | ||||||
Interest-bearing | 477,881 | 1,546 | 479,427 | |||||||||
Total deposits | 630,325 | 1,546 | 631,871 | |||||||||
Federal Funds purchased | 406 | — | 406 | |||||||||
Other liabilities | 3,392 | 167 | 3,559 | |||||||||
Total liabilities assumed | 634,123 | 1,713 | 635,836 | |||||||||
Net assets acquired | $ | 9,201 | $ | (23,716 | ) | (14,515 | ) | |||||
Cash paid to shareholders | (2,000 | ) | ||||||||||
Cash paid to acquire TARP securities | (8,000 | ) | ||||||||||
Goodwill recorded for 1st Financial | $ | (24,515 | ) | |||||||||
Goodwill recorded for 1st Financial represents future revenues to be derived, including efficiencies that will result from combining operations, and other non-identifiable intangible assets. The 1st Financial transaction is a taxable asset acquisition, and goodwill resulting from the transaction is deductible for income tax purposes. | ||||||||||||
Merger costs related to the 1st Financial transaction are estimated to be between $6.0 million and $7.0 million. | ||||||||||||
All loans resulting from the 1st Financial transaction were considered to have deteriorated credit quality at the acquisition date, and are therefore accounted for under ASC 310-30. | ||||||||||||
For loans acquired from 1st Financial, the contractually required payments including principal and interest, cash flows expected to be collected and fair values as of the acquisition date were: | ||||||||||||
1-Jan-14 | ||||||||||||
(dollars in thousands) | ||||||||||||
Contractually required payments | $ | 413,937 | ||||||||||
Cash flows expected to be collected | 400,326 | |||||||||||
Fair value at acquisition date | 316,327 | |||||||||||
The recorded fair values of loans acquired in the 1st Financial transaction as of the acquisition date were as follows: | ||||||||||||
1-Jan-14 | ||||||||||||
(dollars in thousands) | ||||||||||||
Commercial: | ||||||||||||
Construction and land development | $ | 41,516 | ||||||||||
Commercial mortgage | 123,925 | |||||||||||
Other commercial real estate | 6,698 | |||||||||||
Commercial and industrial | 29,126 | |||||||||||
Total commercial loans | 201,265 | |||||||||||
Noncommercial: | ||||||||||||
Residential mortgage | 113,177 | |||||||||||
Consumer | 1,885 | |||||||||||
Total noncommercial loans | 115,062 | |||||||||||
Total loans acquired from 1st Financial | $ | 316,327 | ||||||||||
Parent_Company_Financial_State
Parent Company Financial Statements | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||
Parent Company Financial Statements | ' | |||||||||||
PARENT COMPANY FINANCIAL STATEMENTS | ||||||||||||
Parent Company | ||||||||||||
Condensed Balance Sheets | ||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||
(dollars in thousands) | ||||||||||||
Assets | ||||||||||||
Cash | $ | 13,047 | $ | 2,131 | ||||||||
Investment securities available for sale | 234,488 | 237,765 | ||||||||||
Investment in subsidiaries | 2,058,505 | 1,969,600 | ||||||||||
Due from subsidiaries | 145,666 | 78,512 | ||||||||||
Other assets | 144,998 | 83,283 | ||||||||||
Total assets | $ | 2,596,704 | $ | 2,371,291 | ||||||||
Liabilities and Shareholders' Equity | ||||||||||||
Short-term borrowings | $ | 411,907 | $ | 399,047 | ||||||||
Long-term obligations | 96,392 | 96,392 | ||||||||||
Other liabilities | 11,730 | 11,845 | ||||||||||
Shareholders' equity | 2,076,675 | 1,864,007 | ||||||||||
Total liabilities and shareholders' equity | $ | 2,596,704 | $ | 2,371,291 | ||||||||
Parent Company | ||||||||||||
Condensed Income Statements | ||||||||||||
Year ended December 31 | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(dollars in thousands) | ||||||||||||
Interest income | $ | 1,387 | $ | 1,353 | $ | 1,345 | ||||||
Interest expense | 7,065 | 15,435 | 21,512 | |||||||||
Net interest loss | (5,678 | ) | (14,082 | ) | (20,167 | ) | ||||||
Dividends from subsidiaries | 131,006 | 179,588 | 82,812 | |||||||||
Other income | 3,620 | 2,843 | 9,699 | |||||||||
Other operating expense | 2,344 | 6,384 | 5,298 | |||||||||
Income before income tax benefit and equity in undistributed net income of subsidiaries | 126,604 | 161,965 | 67,046 | |||||||||
Income tax benefit | (2,095 | ) | (8,417 | ) | (5,531 | ) | ||||||
Income before equity in undistributed net income of subsidiaries | 128,699 | 170,382 | 72,577 | |||||||||
(Excess distributions) equity in undistributed net income of subsidiaries | 39,000 | (36,034 | ) | 122,451 | ||||||||
Net income | $ | 167,699 | $ | 134,348 | $ | 195,028 | ||||||
Parent Company | ||||||||||||
Condensed Statements of Cash Flows | ||||||||||||
Year ended December 31 | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(dollars in thousands) | ||||||||||||
OPERATING ACTIVITIES | ||||||||||||
Net income | $ | 167,699 | $ | 134,348 | $ | 195,028 | ||||||
Adjustments | ||||||||||||
Excess distributions (undistributed) net income of subsidiaries | (39,000 | ) | 36,034 | (122,451 | ) | |||||||
Net amortization of premiums and discounts | 334 | 439 | 203 | |||||||||
Gain on retirement of long term obligations | — | — | (9,685 | ) | ||||||||
Securities gains | — | (2,274 | ) | (62 | ) | |||||||
Gain on sale of other assets | (1,331 | ) | — | — | ||||||||
Other than temporary impairment on securities | — | 45 | 26 | |||||||||
Change in other assets | (61,704 | ) | 30,761 | (20,951 | ) | |||||||
Change in other liabilities | (2,096 | ) | (10,148 | ) | (1,925 | ) | ||||||
Net cash provided by operating activities | 63,902 | 189,205 | 40,183 | |||||||||
INVESTING ACTIVITIES | ||||||||||||
Net change in due from subsidiaries | (67,154 | ) | 42,323 | 146,463 | ||||||||
Purchases of investment securities | (126,197 | ) | (111,409 | ) | (220,387 | ) | ||||||
Proceeds from sales, calls, and maturities of securities | 135,000 | 112,625 | 75,151 | |||||||||
Investment in subsidiaries | 1,489 | 9,298 | — | |||||||||
Net cash (used) provided by investing activities | (56,862 | ) | 52,837 | 1,227 | ||||||||
FINANCING ACTIVITIES | ||||||||||||
Net change in short-term borrowings | 12,860 | 23,651 | 4,046 | |||||||||
Retirement of long-term obligations | — | (155,305 | ) | (11,815 | ) | |||||||
Repurchase of common stock | (321 | ) | (103,624 | ) | (24,387 | ) | ||||||
Cash dividends paid | (8,663 | ) | (15,398 | ) | (12,499 | ) | ||||||
Net cash provided (used) by financing activities | 3,876 | (250,676 | ) | (44,655 | ) | |||||||
Net change in cash | 10,916 | (8,634 | ) | (3,245 | ) | |||||||
Cash balance at beginning of year | 2,131 | 10,765 | 14,010 | |||||||||
Cash balance at end of year | $ | 13,047 | $ | 2,131 | $ | 10,765 | ||||||
Cash payments for | ||||||||||||
Interest | $ | 6,904 | $ | 25,574 | $ | 20,677 | ||||||
Income taxes | 102,890 | 66,453 | 91,465 | |||||||||
Accounting_Policies_and_Basis_1
Accounting Policies and Basis of Presentation (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | ' | |
Defined Benefit Pension Plan | ||
BancShares offers a noncontributory defined benefit pension plan to certain qualifying employees. The calculation of the obligations and related expenses under the plan requires the use of actuarial valuation methods and assumptions. Actuarial assumptions used in the determination of future values of plan assets and liabilities are subject to management judgment and may differ significantly if different assumptions are used. The discount rate assumption used to measure the plan obligation is based on a yield curve developed from high-quality corporate bonds across a full maturity spectrum. The projected cash flows of the pension plan are discounted based on this yield curve, and a single discount rate is calculated to achieve the same present value. Refer to Note M in the Consolidated Financial Statements for disclosures related to BancShares' defined benefit pension plan. | ||
FDIC Indemnification Asset Text Block | ' | |
Covered Assets and Receivable from FDIC for Loss Share Agreements | ||
Assets subject to loss share agreements with the FDIC include certain acquired loans and OREO. These loss share agreements afford BancShares significant protection. The agreements cover realized losses on certain loans and other assets purchased from the FDIC during the time period specified in the agreements. Realized losses covered include loan contractual balances, accrued interest on loans for up to 90 days, the book value of foreclosed real estate acquired and certain direct costs, less cash or other consideration received by BancShares. | ||
The FDIC receivable is recorded at fair value at the acquisition date of the indemnified assets and is measured on the same basis as the underlying loans, subject to collectability or contractual limitations. The fair value of the loss share agreements on the acquisition date reflects the discounted reimbursements expected to be received from the FDIC, using an appropriate discount rate, which was based on the market rate for a similar term security at the time of the acquisition adjusted for additional risk premium. | ||
The loss share agreements continue to be measured on the same basis as the related indemnified assets. Because the acquired loans are subject to the accounting prescribed by ASC 310-30, subsequent changes to the basis of the loss share agreements also follow that model. Deterioration in the credit quality of the loans, which is immediately recorded as an adjustment to the allowance for loan losses, would immediately increase the FDIC receivable, with the offset recorded through the consolidated statement of income. Improvements in the credit quality or cash flows of loans, which is reflected as an adjustment to yield and accreted into income over the remaining life of the loans, decrease the FDIC receivable, with such decrease being amortized into income over (1) the same period as the underlying loans or (2) the life of the loss share agreements, whichever is shorter. Loss assumptions used in the basis of the indemnified loans are consistent with the loss assumptions used to measure the indemnification asset. Discounts and premiums reflecting the estimated timing of expected reimbursements is accreted into income over the life of the loss share agreements. | ||
Collection and other servicing costs related to loans covered under FDIC loss share agreements are charged to noninterest expense as incurred. A receivable from the FDIC is recorded for the estimated amount of such expenses that are expected to be reimbursed and results in an increase to noninterest income. The estimated amount of such reimbursements is determined by several factors including the existence of loan participation agreements with other financial institutions, the presence of partial guarantees from the Small Business Administration and whether a reimbursable loss has been recorded on the loan for which collection and servicing costs have been incurred. Future adjustments to the receivable from the FDIC may be necessary as additional information becomes available related to the amount of previously recorded collection and servicing costs that will actually be reimbursed by the FDIC and the probable timing of such reimbursements. | ||
Consolidation, Policy [Policy Text Block] | ' | |
Principles of Consolidation and Segment Reporting | ||
The consolidated financial statements of BancShares include the accounts of BancShares and those subsidiaries that are majority owned by BancShares and over which BancShares exercises control. In consolidation, all significant intercompany accounts and transactions are eliminated. The results of operations of companies or assets acquired are included only from the dates of acquisition. All material wholly-owned and majority-owned subsidiaries are consolidated unless GAAP requires otherwise. | ||
On January 7, 2011, IronStone Bank (ISB), a federally-chartered thrift institution and wholly-owned subsidiary of BancShares, was legally merged into FCB resulting in a single banking subsidiary of BancShares. Prior to the January 2011 merger, FCB and ISB were considered to be distinct operating segments. As a result of the merger and various organizational changes resulting from the merger, there is no longer a focus on the discrete financial measures of each entity, and, based on application of GAAP, no other reportable operating segments exist. Therefore, BancShares now operates as one reportable segment. | ||
FCB has investments in certain low income housing tax credit and renewable energy LLCs that have been evaluated and determined to be variable interest entities (VIEs). VIEs are legal entities in which equity investors do not have sufficient equity at risk for the entity to independently finance its activities, or as a group, the holders of the equity investment at risk lack the power through voting or similar rights to direct the activities of the entity that most significantly impact its economic performance, or do not have the obligation to absorb the expected losses of the entity or the right to receive expected residual returns of the entity. Consolidation of a VIE is considered appropriate if a reporting entity holds a controlling financial interest in the VIE. Analysis of these investments concluded that FCB is not the primary beneficiary and does not hold a controlling interest in the VIEs and, therefore, the assets and liabilities of these partnerships are not consolidated into the financial statements of FCB or BancShares. The recorded investment in these partnerships is reported within other assets in BancShares' Consolidated Balance Sheets. | ||
Reclassification, Policy [Policy Text Block] | ' | |
Reclassifications | ||
In certain instances, amounts reported in prior years' consolidated financial statements have been reclassified to conform to the current financial statement presentation. Such reclassifications had no effect on previously reported cash flows, shareholders' equity or net income. | ||
During the third quarter of 2013, management reevaluated its fair value leveling methodology and the inputs utilized by the 3rd party pricing services for the current and prior periods. Management concluded that due to the reliance on significant observable inputs, the fair values of its US Treasury, Government agency and other securities should be classified as level 2 rather than the level 1 previously disclosed. Management also concluded that its equity securities should be classified as level 2 rather than the level 1 previously disclosed due to the inactive nature of the markets in which these securities trade. | ||
Use of Estimates, Policy [Policy Text Block] | ' | |
Use of Estimates in the Preparation of Financial Statements | ||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates, and different assumptions in the application of these policies could result in material changes in BancShares' consolidated financial position, the consolidated results of its operations or related disclosures. Material estimates that are particularly susceptible to significant change include: | ||
• | Allowance for loan and lease losses | |
• | Fair value of financial instruments, including acquired assets and assumed liabilities | |
• | Pension plan assumptions | |
• | Cash flow estimates on acquired loans | |
• | Receivable from and payable to the FDIC for loss share agreements | |
• | Income tax assets, liabilities and expense | |
Business Combinations Policy [Policy Text Block] | ' | |
Business Combinations | ||
BancShares accounts for all business combinations using the acquisition method of accounting as required by Accounting Standards Codification (ASC) Topic 805, Business Combinations. Under this method of accounting, acquired assets and assumed liabilities are included with the acquirer's accounts as of the date of acquisition, with any excess of purchase price over the fair value of the net assets acquired (including identifiable core deposit intangibles (CDI)) capitalized as goodwill. The CDI asset is recognized as an asset apart from goodwill when it arises from contractual or other legal rights or if it is capable of being separated or divided from the acquired entity and sold, transferred, licensed, rented or exchanged. In addition, acquisition-related costs and restructuring costs are recognized as period expenses as incurred. | ||
The acquired assets and assumed liabilities are recorded at estimated fair values. Management makes significant estimates and exercises significant judgment in accounting for business combinations. Management judgmentally assigns risk ratings to loans based on credit quality, appraisals and estimated collateral values, and estimated expected cash flows to measure fair values for loans. Other real estate (OREO) is valued based upon pending sales contracts and appraised values, adjusted for current market conditions. CDI is valued based on a weighted combination of the income and market approach where the income approach converts anticipated economic benefits to a present value and the market approach evaluates the market in which the asset is traded to find an indication of prices from actual transactions. Management uses quoted or current market prices to determine the fair value of investment securities. Fair values of deposits, short-term borrowings and long-term obligations are based on current market interest rates and are inclusive of any applicable prepayment penalties. | ||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | |
Cash and Cash Equivalents | ||
Cash and cash equivalents include cash and due from banks, interest-bearing deposits with banks and Federal funds sold. Cash and cash equivalents have maturities of three months or less. Accordingly, the carrying amount of such instruments is considered a reasonable estimate of fair value. | ||
Investment, Policy [Policy Text Block] | ' | |
Investment Securities | ||
BancShares' investments consist of government agency securities, U.S. Treasury securities, mortgage-backed securities, corporate bonds, state, county and municipal obligations and equity securities. | ||
BancShares classifies marketable investment securities as held to maturity, available for sale or trading. Interest income and dividends on securities are recognized in interest income on an accrual basis. Premiums and discounts on debt securities are amortized as an adjustment to interest income using the interest method. At December 31, 2013, and 2012, BancShares had no investment securities held for trading purposes. | ||
Debt securities are classified as held to maturity where BancShares has both the intent and ability to hold the securities to maturity. These securities are reported at amortized cost. | ||
Investment securities that may be sold to meet liquidity needs arising from unanticipated deposit and loan fluctuations, changes in regulatory capital requirements or unforeseen changes in market conditions, are classified as available for sale. Securities available for sale are reported at estimated fair value, with unrealized gains and losses reported in accumulated other comprehensive income or loss, net of deferred income taxes, in the shareholders' equity section of the Consolidated Balance Sheets. Gains or losses realized from the sale of securities available for sale are determined by specific identification and are included in noninterest income. As of December 31, 2013, there was no intent to sell any of the securities classified as available for sale. | ||
BancShares evaluates each held to maturity and available for sale security in a loss position for other-than-temporary impairment (OTTI) in accordance with ASC Topic 320-10, Investments - Debt and Equity Securities, at least quarterly. BancShares considers such factors as the length of time and the extent to which the market value has been below amortized cost, long term expectations and recent experience regarding principal and interest payments, BancShares' intent to sell, and whether it is more likely than not that it would be required to sell those securities before the anticipated recovery of the amortized cost basis. The credit component of an OTTI loss is recognized in earnings and the non-credit component is recognized in accumulated other comprehensive income in situations where BancShares does not intend to sell the security, and it is more likely than not that BancShares will not be required to sell the security prior to recovery. | ||
Nonmarketable Securities - FHLB Stock and TARP Stock | ||
Federal law requires a member institution of the Federal Home Loan Bank (FHLB) system to purchase and hold restricted stock of its district FHLB according to a predetermined formula. This stock is restricted in that it may only be sold to the FHLB and all sales must be at par. Accordingly, the FHLB restricted stock is carried at cost, less any applicable impairment charges. | ||
Investments in preferred stock that had initially been issued under the U. S. Treasury's Troubled Asset Recovery Program (TARP) and were purchased in the auction process initiated when the U. S. Treasury decided to liquidate its investments are carried at cost, less any applicable impairment charges, because the securities are not traded and an active market does not exist. Nonmarketable securities are periodically evaluated for impairment. BancShares considers positive and negative evidence, including the profitability and asset quality of the issuer, dividend payment history and recent redemption experience when determining the ultimate recoverability of the recorded investment. Investments in FHLB stock and TARP stock are included in other assets. | ||
Receivables, Policy [Policy Text Block] | ' | |
Loans Held For Sale | ||
BancShares accounts for new originations of prime residential mortgage loans at the lower of aggregate cost or fair value. Gains and losses on sales of mortgage loans are charged to the Consolidated Statements of Income in mortgage income. | ||
Loans and Leases | ||
BancShares' accounting methods for loans and leases differ depending on whether they are originated or acquired, and if acquired, whether or not the acquired assets reflect credit deterioration since the date of origination such that it is probable at the date of acquisition that BancShares will be unable to collect all contractually required payments. | ||
Originated Loans and Leases | ||
Loans and leases for which management has the intent and ability to hold for the foreseeable future are classified as held for investment and carried at the principal amount outstanding net of any unearned income, charge-offs and unamortized fees and costs on originated loans. Nonrefundable fees collected and certain direct costs incurred related to loan originations are deferred and recorded as an adjustment to loans and leases outstanding. The net amount of the nonrefundable fees and costs are amortized to interest income over the contractual lives using methods that approximate a constant yield. | ||
Acquired Loans and Leases | ||
Acquired loans and leases are recorded at fair value at the date of acquisition. No allowance for loan and lease losses is recorded on the acquisition date as the fair value of the acquired assets incorporates assumptions regarding credit risk. | ||
Acquired loans and leases are evaluated at acquisition and where a discount is noted at least in part due to credit, the loans are accounted for under the guidance in ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality. Purchased impaired loans and leases reflect credit deterioration since origination such that it is probable at acquisition that BancShares will be unable to collect all contractually required payments. As of the acquisition date, the difference between contractually required payments and the cash flows expected to be collected is the nonaccretable difference, which is included as a reduction to the carrying amount of acquired loans and leases. If the timing and amount of the future cash flows is reasonably estimable, any excess of cash flows expected at acquisition over the estimated fair value is the accretable yield and is recognized in interest income over the asset's remaining life using a level yield method. | ||
Over the life of acquired loans and leases, BancShares continues to estimate cash flows expected to be collected on individual loans and leases or on pools of loans and leases sharing common risk characteristics. BancShares evaluates at each balance sheet date whether the estimated cash flows and corresponding present value of its loans and leases determined using the effective interest rates has decreased and if so, recognizes provision for loan and lease losses in its Consolidated Statements of Income. For any increases in cash flows expected to be collected, BancShares adjusts any prior recorded allowance for loan and lease losses first, and then the amount of accretable yield recognized on a prospective basis over the loan's or pool's remaining life. | ||
Accretion income is recognized on all non-pooled loans and leases except for situations when the timing and amount of future cash flows cannot be determined. Loans and leases with uncertain future cash flows are accounted for under the cost recovery method and those loans and leases are generally reported as nonaccrual. | ||
For loans and leases where the cash flow analysis was initially performed at the loan pool level, the amount of accretable yield and nonaccretable difference is determined at the pool level. Each loan pool is made up of assets with similar characteristics at the date of acquisition including loan type, collateral type and performance status. All loan pools that have accretable yield to be recognized in interest income are classified as accruing regardless of the status of individual loans within the pool. | ||
Finance, Loan and Lease Receivables, Held-for-investment, Allowance and Nonperforming Loans, Nonperforming Loans Policy [Policy Text Block] | ' | |
Impaired Loans, Troubled Debt Restructurings (TDR) and Nonperforming Assets | ||
Management will deem originated loans and leases to be impaired when, based on current information and events, it is probable that a borrower will be unable to pay all amounts due according to the contractual terms of the loan agreement. Generally, management considers the following loans to be impaired; all TDR loans, commercial and consumer relationships which are nonaccrual or 90+ days past due and greater than $500,000 as well as any other loan management deems impaired. Once a loan is considered impaired, it is required to be individually evaluated for impairment at least quarterly using discounted cash flows, observable market price or the fair value of collateral. When the ultimate collectability of an impaired loan's principal is doubtful, all cash receipts are applied to principal. Once the recorded principal balance has been reduced to zero, future cash receipts are applied to interest income, to the extent that any interest has been foregone. | ||
A loan is considered a TDR when a modification to a borrower's debt agreement is made and where a concession that is granted for economic or legal reasons related to a borrower's financial difficulties that otherwise would not be granted. TDRs are undertaken in order to improve the likelihood of collection on the loan and may result in a stated interest rate lower than the current market rate for new debt with similar risk, other modifications to the structure of the loan that fall outside of normal underwriting policies and procedures or, in certain limited circumstances, forgiveness of principal or interest. Modifications of acquired loans that are part of a pool accounted for as a single asset are not designated as TDRs. TDRs can involve loans remaining on nonaccrual, moving to nonaccrual or continuing on accruing status, depending on the individual facts and circumstances of the borrower. In circumstances where a portion of the loan balance is charged off, BancShares typically classifies the remaining balance as nonaccrual. | ||
In connection with commercial TDRs, the decision to maintain a loan that has been restructured on accrual status is based on a current credit evaluation of the borrower's financial condition and prospects for repayment under the modified terms. This evaluation includes consideration of the borrower's current capacity to pay, which may include a review of the borrower's current financial statements, an analysis of cash flow documenting the borrower's capacity to pay all debt obligations and an evaluation of secondary sources of payment from the borrower and any guarantors. This evaluation also includes an evaluation of the borrower's current willingness to pay, which may include a review of past payment history, an evaluation of the borrower's willingness to provide information on a timely basis and consideration of offers from the borrower to provide additional collateral or guarantor support. The credit evaluation also reflects consideration of the adequacy of collateral to cover all principal and interest and trends indicating improving profitability and collectability of receivables. | ||
Nonaccrual TDRs may be returned to accrual status based on a current credit evaluation of the borrower's financial condition and prospects for repayment under the modified terms. This evaluation includes consideration of the borrower's sustained historical repayment performance for a reasonable period, generally a minimum of six months, prior to the date on which the loan is returned to accrual status. Sustained historical repayment performance for a reasonable time prior to the restructuring may also be considered. | ||
Nonperforming assets include nonaccrual loans and leases and foreclosed property. Foreclosed property consists of real estate and other assets acquired as a result of loan defaults. | ||
BancShares classifies all originated loans and leases as past due when the payment of principal and interest based upon contractual terms is greater than 30 days delinquent. Generally, commercial loans are placed on nonaccrual status when principal or interest becomes 90 days past due or when it is probable that principal or interest is not fully collectible, whichever occurs first. Once a loan is placed on nonaccrual status it is evaluated for impairment and a charge-off is recorded in the amount of the impairment. Consumer loans are subject to mandatory charge-off at a specified delinquency date consistent with regulatory guidelines. | ||
Generally, when loans and leases are placed on nonaccrual status, accrued interest receivable that had been recognized in the current year is reversed against interest income; accrued interest receivable that had been recognized in a prior year is charged off. All payments received thereafter are applied as a reduction to the remaining principal balance as long as concern exists as to the ultimate collection of the principal. Loans and leases are generally removed from nonaccrual status when they become current as to both principal and interest and concern no longer exists as to the collectability of principal and interest. | ||
Noncovered OREO acquired as a result of foreclosure is carried at net realizable value. Net realizable value equals fair value less estimated selling costs. Any excess of cost over fair value at the time of foreclosure is charged to the allowance for loan and lease losses. Cost is determined based on the sum of unpaid principal, accrued but unpaid interest and acquisition costs associated with the loan. | ||
OREO are subject to periodic revaluations of the underlying collateral, at least annually. The periodic revaluations are generally based on the appraised value of the property and may include additional adjustments based upon management's review of the valuation and specific knowledge of the OREO. Routine maintenance costs, subsequent declines in market value and net losses on disposal are included in foreclosed property expense. Gains and losses resulting from the sale or writedown of OREO and income and expenses related to its operation are recorded in other noninterest income. | ||
OREO covered by loss share agreements with the FDIC is reported exclusive of expected reimbursement cash flows from the FDIC at net realizable value. Subsequent downward adjustments to the estimated recoverable value of covered OREO result in a reduction of covered OREO, a charge to foreclosure related expenses and an increase in the FDIC receivable for the estimated amount to be reimbursed, with a corresponding amount recorded as an adjustment to FDIC receivable. | ||
FDIC Payable for Loss Share Agreements [Policy Text Block] | ' | |
Payable to the FDIC for Loss Share Agreements | ||
The purchase and assumption agreements for certain FDIC-assisted transactions include contingent payments that may be owed to the FDIC at the termination of the loss share agreements. The contingent payment is due to the FDIC if actual cumulative losses on acquired covered assets are lower than the cumulative losses originally estimated by the FDIC at the time of acquisition. The contingent liability, which is reported in the Consolidated Balance Sheets as a payable to the FDIC for loss share agreements, is calculated by discounting estimated future payments. The ultimate settlement amount of the contingent payment is dependent upon the performance of the underlying covered loans, the passage of time and actual claims submitted to the FDIC. | ||
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | ' | |
Allowance for Loan and Lease Losses (ALLL) | ||
Originated Loans | ||
The ALLL represents management's best estimate of probable credit losses within the loan and lease portfolio at the balance sheet date. Management determines the ALLL based on an ongoing evaluation. This evaluation is inherently subjective because it requires material estimates, including the amount and timing of cash flows expected to be received on acquired loans. Those estimates are susceptible to significant change. Adjustments to the ALLL are recorded with a corresponding entry to provision for loan and lease losses. Loan and lease balances deemed to be uncollectible are charged off against the ALLL. Recoveries of amounts previously charged off are generally credited to the ALLL. | ||
Accounting standards require the presentation of certain information at the portfolio segment level, which represents the level at which an entity develops and documents a systematic methodology to determine its ALLL. BancShares evaluates its loan and lease portfolio using three portfolio segments: originated commercial, originated noncommercial and acquired. The originated commercial segment includes commercial construction and land development, commercial mortgage, commercial and industrial, lease financing and other commercial real estate loans, and the related ALLL is calculated based on a risk-based approach as reflected in credit risk grades assigned to commercial segment loans. The originated noncommercial segment includes noncommercial construction and land development, residential mortgage, revolving mortgage and consumer loans, and the associated ALLL was determined using a delinquency-based approach. | ||
BancShares' methodology for calculating the ALLL includes estimating a general allowance for pools of unimpaired loans and specific allocations for significant individual impaired loans. The general allowance is based on net historical loan loss experience for homogeneous groups of loans based mostly on loan type then aggregated on the basis of similar risk characteristics and performance trends. The general allowance estimate also contains qualitative components that allow management to adjust reserves based on historical loan loss experience for changes in the economic environment, portfolio trends and other factors. The specific allowance component is determined when management believes that the collectability of an individually reviewed loan has been impaired and a loss is probable. The fair value of impaired loans is based on the present value of expected cash flows, market prices of the loans, if available, or the value of the underlying collateral. Expected cash flows are discounted at the loans' effective interest rates. | ||
The general allowance considers probable, incurred losses that are inherent within the loan portfolio but have not been specifically identified. Loans are divided into segments for analysis based in part on the risk profile inherent in each segment. Loans are further segmented into classes to appropriately recognize changes in inherent risk. A primary component of determining the general allowance for performing and classified loans not analyzed specifically is the actual loss history of the various classes. Loan loss factors based on historical experience may be adjusted for significant factors that, in management's judgment, affect the collectability of the portfolio at the balance sheet date. For originated commercial loans and leases, management incorporates historical net loss data to develop the applicable loan loss factors by utilizing information that considers the class of the commercial loan and associated risk rating. For the originated noncommercial segment, management incorporates specific loan class and delinquency status trends into the loan loss factors. Loan loss factors may be adjusted quarterly based on changes in the level of historical net charge-offs and model adjustment parameter updates by management, such as the number of periods included in the calculation of loss factors, loss severity and portfolio attrition. | ||
The quarterly ALLL evaluation process for the general allowance also includes a qualitative framework that considers economic conditions, composition of the loan portfolio, trends in delinquent and nonperforming loans, historical loss experience by categories of loans, concentrations of credit, changes in lending policies and underwriting standards, regulatory exam results and other factors indicative of inherent losses remaining in the portfolio. Management may adjust the ALLL calculated based on historical loan loss factors when assessing changes in the factors in the qualitative framework. The adjustments to the ALLL for the qualitative framework are based on economic data, data analysis of portfolio trends and management judgment. These adjustments are specific to the loan class level. Prior to the second quarter of 2013, a portion of the allowance for loan and lease losses was not allocated to any specific class of loans. This nonspecific portion reflected management's best estimate of the elements of imprecision and estimation risk inherent in the calculation of the overall allowance. | ||
During the second quarter of 2013, BancShares implemented enhancements to the process to estimate the ALLL and the reserve for unfunded commitments, described below. Through detailed analysis of historical loss data, the process enhancements enabled allocation of the previously unallocated "nonspecific" ALLL and a portion of the reserve for unfunded loan commitments to specific loan classes. The enhanced ALLL estimates implicitly include the risk of draws on open lines within each loan class. Other than the modifications described above, the enhancements to the methodology had no material impact on the ALLL. | ||
Specific allocations are made for significant, individual impaired loans. Management deems a loan to be impaired when, based upon current information and events, it is probable that BancShares will be unable to collect all amounts due according to the contractual terms of the loan. Generally management considers the following loans to be impaired: all TDR loans, commercial and consumer relationships which are nonaccrual or 90+ days past due and greater than $500,000 as well as any other loan management deems impaired. All impaired loans are reviewed for potential impairment on a quarterly basis. Specific valuation allowances are established or partial charge-offs are recorded on impaired loans for the difference between the loan amount and the estimated fair value. | ||
Management continuously monitors and actively manages the credit quality of the entire loan portfolio and adjusts the ALLL to an appropriate level. By assessing the probable estimated incurred losses in the loan portfolio on a quarterly basis, management is able to adjust specific and general loss estimates based upon the most recent information available. Future adjustments to the ALLL may be necessary based on changes in economic and other conditions. Additionally, various regulatory agencies, as an integral part of their examination process, periodically review BancShares' ALLL. Such agencies may require the recognition of adjustments to the ALLL based on their judgments of information available to them at the time of their examination. Management considers the established ALLL adequate to absorb probable losses that relate to loans and leases outstanding as of December 31, 2013. | ||
Each portfolio segment and the classes within those segments are subject to risks that could have an adverse impact on the credit quality of the loan and lease portfolio and the related ALLL. Management has identified the most significant risks as described below that are generally similar among the segments and classes. While the list is not exhaustive, it provides a description of the risks management has determined are the most significant. | ||
Originated Commercial Loans and Leases | ||
Each commercial loan or lease is centrally underwritten based primarily upon the customer's ability to generate the required cash flow to service the debt in accordance with the contractual terms and conditions of the loan agreement. A complete understanding of the borrower's business, including the experience and background of the principals, is obtained prior to approval. To the extent that the loan or lease is secured by collateral, which is true for the majority of commercial loans and leases, the likely value of the collateral and what level of strength the collateral brings to the transaction is evaluated. To the extent that the principals or other parties provide personal guarantees, the relative financial strength and liquidity of each guarantor is assessed. | ||
The significant majority of relationships in the originated commercial segment are assigned credit risk grades based upon an assessment of conditions that affect the borrower's ability to meet contractual obligations under the loan agreement. This process includes reviewing the borrowers' financial information, payment history, credit documentation, public information and other information specific to each borrower. Credit risk grades are reviewed annually, or at any point management becomes aware of information affecting the borrowers' ability to fulfill their obligations. Our credit risk grading standards are described in Note C. | ||
The impairment assessment and determination of the related specific reserve for each impaired loan is based on a loan's characteristics. Impairment measurement for loans that are not collateral dependent is based on the present value of expected cash flows discounted at the loan's effective interest rate. Specific valuation allowances are established or partial charge-offs are recorded for the difference between the loan amount and the estimated fair value. Impairment measurement for most real estate loans, particularly when a loan is considered to be a probable foreclosure, is based on the fair value of the underlying collateral. Collateral is appraised and market value, appropriately adjusted for an assessment of the sales and marketing costs as well as the expected holding period, is used to calculate an anticipated fair value. | ||
General reserves for collective impairment are based on estimated incurred losses related to unimpaired commercial loans and leases as of the balance sheet date. Incurred loss estimates for the originated commercial segment are based on average loss rates by credit risk ratings, which are estimated using historical loss experience and credit risk rating migrations. Incurred loss estimates may be adjusted through a qualitative assessment to reflect current economic conditions and portfolio trends including credit quality, concentrations, aging of the portfolio and significant policy and underwriting changes. | ||
Common risks to each class of commercial loans include general economic conditions within the markets BancShares serves, as well as risks that are specific to each transaction including demand for products and services, personal events, such as disability or change in marital status and reductions in the value of collateral. Due to the concentration of loans in the medical, dental and related fields, BancShares is susceptible to risks that governmental actions, including implementation of the Affordable Care Act, will fundamentally alter the medical care industry in the United States. | ||
In addition to these common risks for the majority of the originated commercial segment, additional risks are inherent in certain classes of originated commercial loans and leases. | ||
Commercial construction and land development | ||
Commercial construction and land development loans are highly dependent on the supply and demand for commercial real estate in the markets served by BancShares as well as the demand for newly constructed residential homes and lots that customers are developing. Deterioration in demand could result in decreases in collateral values and could make repayment of the outstanding loans more difficult for customers. | ||
Commercial mortgage, commercial and industrial and lease financing | ||
Commercial mortgage loans, commercial and industrial loans and lease financing are primarily dependent on the ability of borrowers to achieve business results consistent with those projected at loan origination resulting in cash flow sufficient to service the debt. To the extent that a customer's business results are significantly unfavorable versus the original projections, the ability for the loan to be serviced on a basis consistent with the contractual terms may be at risk. While these loans and leases are generally secured by real property, personal property or business assets such as inventory or accounts receivable, it is possible that the liquidation of the collateral will not fully satisfy the obligation. | ||
Other commercial real estate | ||
Other commercial real estate loans consist primarily of loans secured by multifamily housing and agricultural loans. The primary risk associated with multifamily loans is the ability of the income-producing property that collateralizes the loan to produce adequate cash flow to service the debt. High unemployment or generally weak economic conditions may result in customers having to provide rental rate concessions to achieve adequate occupancy rates. The performance of agricultural loans is highly dependent on favorable weather, reasonable costs for seed and fertilizer and the ability to successfully market the product at a profitable margin. The demand for these products is also dependent on macroeconomic conditions that are beyond the control of the borrower. | ||
Originated Noncommercial Loans and Leases | ||
Each originated noncommercial loan is centrally underwritten using automated credit scoring and analysis tools. These credit scoring tools take into account factors such as payment history, credit utilization, length of credit history, types of credit currently in use and recent credit inquiries. To the extent that the loan is secured by collateral, the likely value of that collateral is evaluated. | ||
The ALLL for the originated noncommercial segment is primarily calculated on a pooled basis using a delinquency-based approach. Estimates of incurred losses are based on historical loss experience and the migration of receivables through the various delinquency pools applied to the current risk mix. These estimates may be adjusted through a qualitative assessment to reflect current economic conditions, portfolio trends and other factors. The remaining portion of the ALLL related to the originated noncommercial segment results from loans that are deemed impaired. The impairment assessment and determination of the related specific reserve for each impaired loan is based on a loan's characteristics. Impairment measurement for loans that are not collateral dependent is based on the present value of expected cash flows discounted at the loan's effective interest rate. Specific valuation allowances are established or partial charge-offs are recorded for the difference between the loan amount and the estimated fair value. Impairment measurement for most real estate loans, particularly when a loan is considered to be a probable foreclosure, is based on the fair value of the underlying collateral. Collateral is appraised and market value, appropriately adjusted for an assessment of the sales and marketing costs as well as the expected holding period, is used to calculate an anticipated fair value. | ||
Common risks to each class of noncommercial loans include risks that are not specific to individual transactions such as general economic conditions within the markets BancShares serves, particularly unemployment and potential declines in real estate values. Personal events such as disability or change in marital status also add risk to noncommercial loans. | ||
In addition to these common risks for the majority of noncommercial loans, additional risks are inherent in certain classes of noncommercial loans. | ||
Revolving mortgage | ||
Revolving mortgage loans are often secured by second liens on residential real estate, thereby making such loans particularly susceptible to declining collateral values. A substantial decline in collateral value could render a second lien position to be effectively unsecured. Additional risks include lien perfection inaccuracies, disputes with first lienholders and uncertainty regarding the customer's performance with respect to the first lien that may further weaken the collateral position. Further, the open-end structure of these loans creates the risk that customers may draw on the lines in excess of the collateral value if there have been significant declines since origination. | ||
Consumer | ||
The consumer loan portfolio includes loans secured by personal property such as automobiles, marketable securities, other titled recreational vehicles including boats and motorcycles, as well as unsecured consumer debt. The value of underlying collateral within this class is especially volatile due to potential rapid depreciation in values since date of loan origination, potentially in excess of principal balances. | ||
Residential mortgage and noncommercial construction and land development | ||
Residential mortgage and noncommercial construction and land development loans are made to individuals and are typically secured by 1-4 family residential property, undeveloped land and partially developed land in anticipation of pending construction of a personal residence. Significant and rapid declines in real estate values can result in residential mortgage loan borrowers having debt levels in excess of the current market value of the collateral. Noncommercial construction and land development projects can experience delays in completion and cost overruns that exceed the borrower's financial ability to complete the project. Such cost overruns can routinely result in foreclosure of partially completed and unmarketable collateral. | ||
Acquired loans | ||
The risks associated with acquired loans are generally consistent with the risks identified for commercial and noncommercial originated loans and the classes of loans within those segments. However, these loans were underwritten by other institutions with weaker lending standards. Additionally, in some cases, collateral for acquired loans is located in regions that have experienced profound erosion of real estate values. Therefore, there exists a significant risk that acquired loans are not adequately supported by borrower cash flow or the values of underlying collateral. | ||
The ALLL for acquired loans is estimated based on the estimated cash flows approach. Over the life of acquired loans and leases, BancShares continues to estimate cash flows expected to be collected on individual loans and leases or on pools of loans and leases sharing common risk characteristics. BancShares evaluates at each balance sheet date whether the estimated cash flows and corresponding present value of its loans and leases determined using the effective interest rates has decreased and if so, recognizes provision for loan and lease losses. For any increases in cash flows expected to be collected, BancShares adjusts any prior recorded allowance for loan and lease losses first and then the amount of accretable yield recognized on a prospective basis over the loan's or pool's remaining life. | ||
Reserve for unfunded commitments, Policy [Policy Text Block] | ' | |
Reserve for Unfunded Commitments | ||
The reserve for unfunded commitments represents the estimated probable losses related to unfunded lending commitments, such as letters of credit, financial guarantees and similar binding commitments. The reserve is calculated in a manner similar to the loans evaluated collectively for impairment, while also considering the timing and likelihood that the available credit will be utilized as well as the exposure upon default. The reserve for unfunded commitments is presented within other liabilities on the consolidated balance sheets, distinct from the ALLL, and adjustments to the reserve for unfunded commitments are included in other noninterest expense in the consolidated statements of income. | ||
Repurchase and Resale Agreements Policy [Policy Text Block] | ' | |
Securities Sold Under Repurchase Agreements | ||
Securities sold under repurchase agreements generally have maturities of one day and are reflected as short-term borrowings on the Consolidated Balance Sheets and are recorded based on the amount of cash received in connection with the borrowing. At December 31, 2013, and 2012, BancShares had $97.0 million and $111.9 million of securities sold under repurchase agreements, respectively. | ||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | |
Premises and Equipment | ||
Premises, equipment and capital leases are stated at cost less accumulated depreciation and amortization. For financial reporting purposes, depreciation and amortization are computed using the straight-line method and are expensed over the estimated useful lives of the assets, which range from 25 to 40 years for premises and three to 10 years for furniture, software and equipment. Leasehold improvements are amortized over the terms of the respective leases or the useful lives of the improvements, whichever is shorter. Gains and losses on dispositions are recorded in other noninterest expense. Maintenance and repairs are charged to occupancy expense or equipment expense as incurred. Obligations under capital leases are amortized over the life of the lease using the interest method to allocate payments between principal reduction and interest expense. Rent expense and rental income on operating leases are recorded using the straight-line method over the appropriate lease terms. | ||
Goodwill and Intangible Assets, Policy [Policy Text Block] | ' | |
Goodwill and Other Intangible Assets | ||
BancShares accounts for acquisitions using the acquisition method of accounting. Under acquisition accounting, if the purchase price of an acquired company exceeds the fair value of its net assets, the excess is carried on the acquirer's balance sheet as goodwill. An intangible asset is recognized as an asset apart from goodwill if it arises from contractual or other legal rights or if it is capable of being separated or divided from the acquired entity and sold, transferred, licensed, rented or exchanged. Intangible assets are identifiable assets, such as core deposit intangibles, resulting from acquisitions which are amortized on an accelerated basis over an estimated useful life and evaluated for impairment whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable. | ||
Goodwill is not amortized but is evaluated at least annually for impairment or more frequently if events occur or circumstances change that may trigger a decline in the value of the reporting unit or otherwise indicate that a potential impairment exists. Examples of such events or circumstances include deterioration of general economic conditions, limitations on accessing capital, other equity and credit market developments, adverse change(s) in the environment in which BancShares operates, regulatory or political developments and changes in management, key personnel, strategy or customers. The evaluation of goodwill is based on a variety of factors, including common stock trading multiples and data from comparable acquisitions. Potential impairment of goodwill exists when the carrying amount of a reporting unit exceeds its fair value. In accordance with ASC Topic 350, Intangibles - Goodwill and Other, the fair value for the reporting unit is computed using various methods including market capitalization, price-earnings multiples, price-to-tangible book and market premium. | ||
To the extent the reporting unit's carrying amount exceeds its fair value, an indication exists that the reporting unit's goodwill may be impaired, and the second step of impairment testing will be performed. In the second step, the implied fair value of the reporting unit's goodwill is determined by allocating the reporting unit's fair value to all of its assets (recognized and unrecognized) and liabilities as if the reporting unit had been acquired in a business combination at the date of the impairment test. If the implied fair value of the reporting unit's goodwill is lower than its carrying amount, goodwill is impaired and is written down to the implied fair value. The loss recognized is limited to the carrying amount of goodwill. Once an impairment loss is recognized, future increases in fair value will not result in the reversal of previously recognized losses. | ||
Annual impairment tests are conducted as of July 31 each year. Based on the July 31, 2013, impairment test, management concluded there was no indication of goodwill impairment. In addition to the annual testing requirement, impairment tests are performed if various other events occur including significant adverse changes in the business climate, considering various qualitative and quantitative factors to determine whether impairment exists. There were no such events subsequent to the annual impairment test performed during 2013. | ||
Other intangible assets with estimable lives are amortized over their estimated useful lives, which are periodically reviewed for reasonableness. As a result of the FDIC-assisted transactions in 2011, 2010 and 2009, identifiable intangible assets were recorded representing the estimated value of the core deposits acquired and certain customer relationships. | ||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | |
Fair Values | ||
Fair value disclosures are required for all financial instruments, whether or not recognized in the balance sheet, for which it is practicable to estimate that value. Under GAAP, individual fair value estimates are ranked on a three-tier scale based on the relative reliability of the inputs used in the valuation. Fair values determined using level 1 inputs rely on active and observable markets to price identical assets or liabilities. In situations where identical assets and liabilities are not traded in active markets, fair values may be determined based on level 2 inputs, which represent observable data for similar assets and liabilities. Fair values for assets and liabilities that are not actively traded in observable markets are based on level 3 inputs, which are considered to be nonobservable. Fair value estimates derived from level 3 inputs cannot be substantiated by comparison to independent markets and, in many cases, cannot be realized through immediate settlement of the instrument. Accordingly, the aggregate fair value amounts presented do not necessarily represent the underlying value to BancShares. For additional information, see Note L to the Consolidated Financial Statements. | ||
Income Tax, Policy [Policy Text Block] | ' | |
Income Taxes | ||
Deferred income taxes are reported when different accounting methods have been used in determining income for income tax purposes and for financial reporting purposes. Deferred taxes are computed using the asset and liability approach as prescribed in ASC Topic 740, Income Taxes. Under this method, a deferred tax asset or liability is determined based on the currently enacted tax rates applicable to the period in which the differences between the financial statement carrying amounts and tax basis of existing assets and liabilities are expected to be reported in BancShares' income tax returns. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. | ||
BancShares continually monitors and evaluates the potential impact of current events on the estimates used to establish income tax expenses and income tax liabilities. On a periodic basis, BancShares evaluates its income tax positions based on current tax law, positions taken by various tax auditors within the jurisdictions that BancShares is required to file income tax returns, as well as potential or pending audits or assessments by such tax auditors. | ||
BancShares files a consolidated federal income tax return and various combined and separate company state tax returns. | ||
Derivatives, Policy [Policy Text Block] | ' | |
Derivative Financial Instruments | ||
A derivative is a financial instrument that derives its cash flows, and therefore its value, by reference to an underlying instrument, index or referenced interest rate. These instruments include interest rate swaps, caps, floors, collars, options or other financial instruments designed to hedge exposures to interest rate risk or for speculative purposes. | ||
BancShares selectively uses interest rate swaps for interest rate risk management purposes. During 2011, BancShares entered into an interest rate swap that qualifies as a cash flow hedge under GAAP. This interest rate swap converts variable-rate exposure on outstanding debt to a fixed rate. The derivative is valued each quarter and changes in the fair value are recorded on the consolidated balance sheet with an offset to other comprehensive income for the effective portion and an offset to the consolidated statement of income for any ineffective portion. The assessment of effectiveness is performed using the long-haul method. BancShares’ interest rate swap has been fully effective since inception; therefore, changes in the fair value of the interest rate swap have had no impact on net income. There are no speculative derivative financial instruments in any period. | ||
In the event of a change in the forecasted cash flows of the underlying hedged item, the related hedge will be terminated, and management will consider the appropriateness of entering into another hedge for the remaining exposure. The fair value of the terminated hedge will be amortized from accumulated other comprehensive income into earnings over the original life of the terminated swap, provided the remaining cash flows are still probable. | ||
Subsequent Events, Policy [Policy Text Block] | ' | |
Subsequent Events | ||
Management has evaluated subsequent events through the date of filing this Form 10-K. See Note V for more information. | ||
Earnings Per Share, Policy [Policy Text Block] | ' | |
Per Share Data | ||
Net income per share has been computed by dividing net income by the average number of both classes of common shares outstanding during each period. BancShares had no potential common stock outstanding in any period. | ||
Cash dividends per share apply to both Class A and Class B common stock. Shares of Class A common stock carry one vote per share, while shares of Class B common stock carry 16 votes per share. | ||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | |
Recently Adopted Accounting Pronouncements | ||
FASB ASU 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” | ||
This ASU requires BancShares to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts, BancShares is required to cross-reference to other disclosures required under GAAP that provide additional detail about those amounts. | ||
For public entities, the amendments are effective prospectively for reporting periods beginning after December 15, 2012. BancShares adopted the methodologies prescribed by this ASU by the date required. Adoption of this ASU did not have a material effect on BancShares' financial position or results of operations. BancShares has included the required disclosures in its Consolidated Statements of Comprehensive Income and in Note U to the Consolidated Financial Statements. | ||
FASB ASU 2012-06. “Business Combinations (Topic 805) - Subsequent Accounting for an Indemnification Asset Recognized at the Acquisition Date as a Result of a Government-Assisted Acquisition of a Financial Institution” | ||
This ASU addresses the diversity in practice about how to interpret the terms on the same basis and contractual limitations when subsequently measuring an indemnification asset recognized in a government-assisted (Federal Deposit Insurance Corporation or National Credit Union Administration) acquisition of a financial institution that includes a loss sharing agreement (indemnification agreement). When BancShares recognizes an indemnification asset (in accordance with Subtopic 805-20) as a result of a government-assisted acquisition of a financial institution and subsequently a change in the cash flows expected to be collected on the indemnification asset occurs (as a result of a change in cash flows expected to be collected on the assets subject to indemnification), BancShares should subsequently account for the change in the measurement of the indemnification asset on the same basis as the change in the assets subject to indemnification. Any amortization of changes in value should be limited to the contractual term of the indemnification agreement (that is, the lesser of the term of the indemnification agreement and the remaining life of the indemnified assets). | ||
This guidance became effective for annual periods beginning on or after December 15, 2012, and interim periods within those annual periods. BancShares adopted ASU 2012-06 on January 1, 2013. BancShares had previously accounted for its indemnification asset in accordance with this guidance; accordingly, the adoption of this guidance had no impact on BancShares' consolidated financial position, results of operations or cash flows. |
Investments_Tables
Investments (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Investments [Abstract] | ' | |||||||||||||||||||||||
Aggregate Values And Unrealized Gains And Losses Of Investment Securities | ' | |||||||||||||||||||||||
Investment securities as of December 31, 2013, and 2012, along with unrealized gains and losses determined on an individual security basis, are as follows: | ||||||||||||||||||||||||
Cost | Gross | Gross unrealized | Fair | |||||||||||||||||||||
unrealized | losses | value | ||||||||||||||||||||||
gains | ||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Investment securities available for sale | ||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
U.S. Treasury | $ | 373,223 | $ | 259 | $ | 45 | $ | 373,437 | ||||||||||||||||
Government agency | 2,543,223 | 1,798 | 792 | 2,544,229 | ||||||||||||||||||||
Mortgage-backed securities | 2,486,297 | 4,526 | 43,950 | 2,446,873 | ||||||||||||||||||||
Equity securities | 543 | 21,604 | — | 22,147 | ||||||||||||||||||||
State, county and municipal | 186 | 1 | — | 187 | ||||||||||||||||||||
Other | 863 | — | 33 | 830 | ||||||||||||||||||||
Total investment securities available for sale | $ | 5,404,335 | $ | 28,188 | $ | 44,820 | $ | 5,387,703 | ||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||
U.S. Treasury | $ | 823,241 | $ | 403 | $ | 12 | $ | 823,632 | ||||||||||||||||
Government agency | 3,052,040 | 3,501 | 337 | 3,055,204 | ||||||||||||||||||||
Mortgage-backed securities | 1,315,211 | 14,787 | 341 | 1,329,657 | ||||||||||||||||||||
Equity securities | 543 | 15,822 | — | 16,365 | ||||||||||||||||||||
State, county and municipal | 546 | 4 | — | 550 | ||||||||||||||||||||
Other | 838 | — | 18 | 820 | ||||||||||||||||||||
Total investment securities available for sale | $ | 5,192,419 | $ | 34,517 | $ | 708 | $ | 5,226,228 | ||||||||||||||||
Investment securities held to maturity | ||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Mortgage-backed securities | $ | 907 | $ | 67 | $ | — | $ | 974 | ||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||
Mortgage-backed securities | $ | 1,342 | $ | 133 | $ | 27 | $ | 1,448 | ||||||||||||||||
Investment Securities Maturity Information | ' | |||||||||||||||||||||||
The following table provides the maturity distribution of amortizing investment securities. Repayments of mortgage-backed securities are dependent on the underlying loan balances. Equity securities do not have a stated maturity date. | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Cost | Fair | Cost | Fair | |||||||||||||||||||||
value | value | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Investment securities available for sale | ||||||||||||||||||||||||
Amortizing securities maturing in: | ||||||||||||||||||||||||
One year or less | $ | 839,956 | $ | 840,883 | $ | 2,285,159 | $ | 2,286,403 | ||||||||||||||||
One through five years | 2,077,539 | 2,077,800 | 1,590,608 | 1,592,923 | ||||||||||||||||||||
Five through 10 years | — | — | 898 | 880 | ||||||||||||||||||||
Mortgage-backed securities | 2,486,297 | 2,446,873 | 1,315,211 | 1,329,657 | ||||||||||||||||||||
Equity securities | 543 | 22,147 | 543 | 16,365 | ||||||||||||||||||||
Total investment securities available for sale | $ | 5,404,335 | $ | 5,387,703 | $ | 5,192,419 | $ | 5,226,228 | ||||||||||||||||
Investment securities held to maturity | ||||||||||||||||||||||||
Mortgage-backed securities held to maturity | $ | 907 | $ | 974 | $ | 1,342 | $ | 1,448 | ||||||||||||||||
Securities Gains (Losses) | ' | |||||||||||||||||||||||
For each period presented, securities gains (losses) include the following: | ||||||||||||||||||||||||
Year ended December 31 | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Gross gains on sales of investment securities available for sale | $ | — | $ | 2,324 | $ | 531 | ||||||||||||||||||
Gross losses on sales of investment securities available for sale | — | (2 | ) | (793 | ) | |||||||||||||||||||
Other than temporary impairment loss on equity securities | — | (45 | ) | (26 | ) | |||||||||||||||||||
Total securities gains (losses) | $ | — | $ | 2,277 | $ | (288 | ) | |||||||||||||||||
Investment Securities With Unrealized Losses | ' | |||||||||||||||||||||||
The following table provides information regarding securities with unrealized losses as of December 31, 2013, and 2012. | ||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
U.S. Treasury | $ | 102,105 | $ | 45 | $ | — | $ | — | $ | 102,105 | $ | 45 | ||||||||||||
Government agency | 780,552 | 761 | 29,969 | 31 | 810,521 | 792 | ||||||||||||||||||
Mortgage-backed securities | 2,221,213 | 42,876 | 26,861 | 1,074 | 2,248,074 | 43,950 | ||||||||||||||||||
Other | 830 | 33 | — | — | 830 | 33 | ||||||||||||||||||
Total | $ | 3,104,700 | $ | 43,715 | $ | 56,830 | $ | 1,105 | $ | 3,161,530 | $ | 44,820 | ||||||||||||
Investment securities held to maturity: | ||||||||||||||||||||||||
Mortgage-backed securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
December 31, 2012 | ||||||||||||||||||||||||
Investment securities available for sale: | ||||||||||||||||||||||||
U.S. Treasury | $ | 120,045 | $ | 12 | $ | — | $ | — | $ | 120,045 | $ | 12 | ||||||||||||
Government agency | 407,498 | 337 | — | — | 407,498 | 337 | ||||||||||||||||||
Mortgage-backed securities | 135,880 | 214 | 9,433 | 127 | 145,313 | 341 | ||||||||||||||||||
Other | 820 | 18 | — | — | 820 | 18 | ||||||||||||||||||
Total | $ | 664,243 | $ | 581 | $ | 9,433 | $ | 127 | $ | 673,676 | $ | 708 | ||||||||||||
Investment securities held to maturity: | ||||||||||||||||||||||||
Mortgage-backed securities | $ | — | $ | — | $ | 17 | $ | 27 | $ | 17 | $ | 27 | ||||||||||||
Loans_and_Leases_Tables
Loans and Leases (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Loans And Leases Outstanding | ' | |||||||||||||||||||||||||||||||||||
Loans and leases outstanding include the following as of the dates indicated: | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
Acquired loans | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Construction and land development | $ | 78,915 | $ | 237,906 | ||||||||||||||||||||||||||||||||
Commercial mortgage | 642,891 | 1,054,473 | ||||||||||||||||||||||||||||||||||
Other commercial real estate | 41,381 | 107,119 | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 17,254 | 49,463 | ||||||||||||||||||||||||||||||||||
Other | 866 | 1,074 | ||||||||||||||||||||||||||||||||||
Total commercial loans | 781,307 | 1,450,035 | ||||||||||||||||||||||||||||||||||
Noncommercial: | ||||||||||||||||||||||||||||||||||||
Residential mortgage | 213,851 | 297,926 | ||||||||||||||||||||||||||||||||||
Revolving mortgage | 30,834 | 38,710 | ||||||||||||||||||||||||||||||||||
Construction and land development | 2,583 | 20,793 | ||||||||||||||||||||||||||||||||||
Consumer | 851 | 1,771 | ||||||||||||||||||||||||||||||||||
Total noncommercial loans | 248,119 | 359,200 | ||||||||||||||||||||||||||||||||||
Total acquired loans | 1,029,426 | 1,809,235 | ||||||||||||||||||||||||||||||||||
Originated loans and leases: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Construction and land development | 319,847 | 309,190 | ||||||||||||||||||||||||||||||||||
Commercial mortgage | 6,362,490 | 6,029,435 | ||||||||||||||||||||||||||||||||||
Other commercial real estate | 178,754 | 160,980 | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 1,081,158 | 1,038,530 | ||||||||||||||||||||||||||||||||||
Lease financing | 381,763 | 330,679 | ||||||||||||||||||||||||||||||||||
Other | 175,336 | 125,681 | ||||||||||||||||||||||||||||||||||
Total commercial loans | 8,499,348 | 7,994,495 | ||||||||||||||||||||||||||||||||||
Noncommercial: | ||||||||||||||||||||||||||||||||||||
Residential mortgage | 982,421 | 822,889 | ||||||||||||||||||||||||||||||||||
Revolving mortgage | 2,113,285 | 2,210,133 | ||||||||||||||||||||||||||||||||||
Construction and land development | 122,792 | 131,992 | ||||||||||||||||||||||||||||||||||
Consumer | 386,452 | 416,606 | ||||||||||||||||||||||||||||||||||
Total noncommercial loans | 3,604,950 | 3,581,620 | ||||||||||||||||||||||||||||||||||
Total originated loans and leases | 12,104,298 | 11,576,115 | ||||||||||||||||||||||||||||||||||
Total loans and leases | $ | 13,133,724 | $ | 13,385,350 | ||||||||||||||||||||||||||||||||
Composition Of The Loans And Leases Outstanding By Credit Quality Indicator | ' | |||||||||||||||||||||||||||||||||||
The composition of the loans and leases outstanding at December 31, 2013, and December 31, 2012, by credit quality indicator is provided below: | ||||||||||||||||||||||||||||||||||||
Originated commercial loans and leases | ||||||||||||||||||||||||||||||||||||
Grade: | Construction and land | Commercial | Other | Commercial and | Lease financing | Other | Total originated commercial loans and leases | |||||||||||||||||||||||||||||
development | mortgage | commercial real estate | industrial | |||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Pass | $ | 308,231 | $ | 6,094,505 | $ | 174,913 | $ | 964,840 | $ | 375,371 | $ | 174,314 | $ | 8,092,174 | ||||||||||||||||||||||
Special mention | 8,620 | 119,515 | 1,362 | 14,686 | 2,160 | 982 | 147,325 | |||||||||||||||||||||||||||||
Substandard | 2,944 | 141,913 | 2,216 | 6,352 | 3,491 | 40 | 156,956 | |||||||||||||||||||||||||||||
Doubtful | 52 | 5,159 | 75 | 144 | 592 | — | 6,022 | |||||||||||||||||||||||||||||
Ungraded | — | 1,398 | 188 | 95,136 | 149 | — | 96,871 | |||||||||||||||||||||||||||||
Total | $ | 319,847 | $ | 6,362,490 | $ | 178,754 | $ | 1,081,158 | $ | 381,763 | $ | 175,336 | $ | 8,499,348 | ||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Pass | $ | 274,480 | $ | 5,688,541 | $ | 151,549 | $ | 894,998 | $ | 325,626 | $ | 124,083 | $ | 7,459,277 | ||||||||||||||||||||||
Special mention | 14,666 | 166,882 | 2,812 | 13,275 | 1,601 | 837 | 200,073 | |||||||||||||||||||||||||||||
Substandard | 18,761 | 157,966 | 5,038 | 12,073 | 1,663 | 756 | 196,257 | |||||||||||||||||||||||||||||
Doubtful | 952 | 13,475 | 98 | 1,040 | 771 | — | 16,336 | |||||||||||||||||||||||||||||
Ungraded | 331 | 2,571 | 1,483 | 117,144 | 1,018 | 5 | 122,552 | |||||||||||||||||||||||||||||
Total | $ | 309,190 | $ | 6,029,435 | $ | 160,980 | $ | 1,038,530 | $ | 330,679 | $ | 125,681 | $ | 7,994,495 | ||||||||||||||||||||||
Originated noncommercial loans and leases | ||||||||||||||||||||||||||||||||||||
Residential | Revolving | Construction | Consumer | Total originated noncommercial | ||||||||||||||||||||||||||||||||
mortgage | mortgage | and land | loans | |||||||||||||||||||||||||||||||||
development | ||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Current | $ | 955,300 | $ | 2,095,480 | $ | 121,026 | $ | 382,710 | $ | 3,554,516 | ||||||||||||||||||||||||||
30-59 days past due | 12,885 | 10,977 | 1,193 | 2,114 | 27,169 | |||||||||||||||||||||||||||||||
60-89 days past due | 4,658 | 2,378 | 317 | 955 | 8,308 | |||||||||||||||||||||||||||||||
90 days or greater past due | 9,578 | 4,450 | 256 | 673 | 14,957 | |||||||||||||||||||||||||||||||
Total | $ | 982,421 | $ | 2,113,285 | $ | 122,792 | $ | 386,452 | $ | 3,604,950 | ||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Current | $ | 786,626 | $ | 2,190,186 | $ | 128,764 | 409,218 | $ | 3,514,794 | |||||||||||||||||||||||||||
30-59 days past due | 15,711 | 12,868 | 1,941 | 4,405 | 34,925 | |||||||||||||||||||||||||||||||
60-89 days past due | 7,559 | 3,200 | 490 | 1,705 | 12,954 | |||||||||||||||||||||||||||||||
90 days or greater past due | 12,993 | 3,879 | 797 | 1,278 | 18,947 | |||||||||||||||||||||||||||||||
Total | $ | 822,889 | $ | 2,210,133 | $ | 131,992 | $ | 416,606 | $ | 3,581,620 | ||||||||||||||||||||||||||
Acquired loans | ||||||||||||||||||||||||||||||||||||
Grade: | Construction | Commercial | Other | Commercial | Residential | Revolving | Construction | Consumer | Total acquired | |||||||||||||||||||||||||||
and land | mortgage | commercial | and | mortgage | mortgage | and land | and other | loans | ||||||||||||||||||||||||||||
development - | real estate | industrial | development - | |||||||||||||||||||||||||||||||||
commercial | noncommercial | |||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Pass | $ | 2,619 | $ | 296,824 | $ | 22,225 | $ | 8,021 | $ | 135,326 | $ | 26,322 | $ | 149 | $ | 1,345 | $ | 492,831 | ||||||||||||||||||
Special mention | 15,530 | 125,295 | 3,431 | 2,585 | 6,301 | 2,608 | — | — | 155,750 | |||||||||||||||||||||||||||
Substandard | 52,228 | 179,657 | 7,012 | 5,225 | 52,774 | 1,013 | 2,139 | — | 300,048 | |||||||||||||||||||||||||||
Doubtful | 7,436 | 40,471 | 8,713 | 1,257 | 2,058 | 891 | 295 | — | 61,121 | |||||||||||||||||||||||||||
Ungraded | 1,102 | 644 | — | 166 | 17,392 | — | — | 372 | 19,676 | |||||||||||||||||||||||||||
Total | $ | 78,915 | $ | 642,891 | $ | 41,381 | $ | 17,254 | $ | 213,851 | $ | 30,834 | $ | 2,583 | $ | 1,717 | $ | 1,029,426 | ||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Pass | $ | 17,010 | $ | 376,974 | $ | 33,570 | $ | 19,451 | $ | 172,165 | $ | 29,540 | $ | 334 | $ | 1,617 | $ | 650,661 | ||||||||||||||||||
Special mention | 25,734 | 259,264 | 17,518 | 12,465 | 14,863 | 1,736 | — | 34 | 331,614 | |||||||||||||||||||||||||||
Substandard | 105,061 | 344,542 | 44,335 | 14,698 | 83,193 | 7,434 | 17,190 | 239 | 616,692 | |||||||||||||||||||||||||||
Doubtful | 87,445 | 73,016 | 11,696 | 2,757 | 4,268 | — | 3,269 | 117 | 182,568 | |||||||||||||||||||||||||||
Ungraded | 2,656 | 677 | — | 92 | 23,437 | — | — | 838 | 27,700 | |||||||||||||||||||||||||||
Total | $ | 237,906 | $ | 1,054,473 | $ | 107,119 | $ | 49,463 | $ | 297,926 | $ | 38,710 | $ | 20,793 | $ | 2,845 | $ | 1,809,235 | ||||||||||||||||||
Aging Of The Outstanding Loans And Leases By Class Excluding Loans Impaired At Acquisition Date | ' | |||||||||||||||||||||||||||||||||||
The aging of the outstanding loans and leases, by class, at December 31, 2013, and December 31, 2012, (excluding loans and leases acquired with deteriorated credit quality) is provided in the table below. The calculation of days past due begins on the day after payment is due and includes all days through which all required interest or principal has not been paid. Loans and leases 30 days or less past due are considered current due to various grace periods that allow borrowers to make payments within a stated period after the due date and still remain in compliance with the loan agreement. | ||||||||||||||||||||||||||||||||||||
30-59 days | 60-89 days | 90 days or greater | Total past | Current | Total loans | |||||||||||||||||||||||||||||||
past due | past due | due | and leases | |||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Originated loans and leases: | ||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 1,603 | $ | 9 | $ | 457 | $ | 2,069 | $ | 317,778 | $ | 319,847 | ||||||||||||||||||||||||
Commercial mortgage | 11,131 | 3,601 | 14,407 | 29,139 | 6,333,351 | 6,362,490 | ||||||||||||||||||||||||||||||
Other commercial real estate | 139 | 210 | 470 | 819 | 177,935 | 178,754 | ||||||||||||||||||||||||||||||
Commercial and industrial | 3,336 | 682 | 436 | 4,454 | 1,076,704 | 1,081,158 | ||||||||||||||||||||||||||||||
Lease financing | 789 | 1,341 | 101 | 2,231 | 379,532 | 381,763 | ||||||||||||||||||||||||||||||
Other | — | 85 | — | 85 | 175,251 | 175,336 | ||||||||||||||||||||||||||||||
Residential mortgage | 12,885 | 4,658 | 9,578 | 27,121 | 955,300 | 982,421 | ||||||||||||||||||||||||||||||
Revolving mortgage | 10,977 | 2,378 | 4,450 | 17,805 | 2,095,480 | 2,113,285 | ||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 1,193 | 317 | 256 | 1,766 | 121,026 | 122,792 | ||||||||||||||||||||||||||||||
Consumer | 2,114 | 955 | 673 | 3,742 | 382,710 | 386,452 | ||||||||||||||||||||||||||||||
Total originated loans and leases | $ | 44,167 | $ | 14,236 | $ | 30,828 | $ | 89,231 | $ | 12,015,067 | $ | 12,104,298 | ||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Originated loans and leases: | ||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 927 | $ | — | $ | 7,878 | $ | 8,805 | $ | 300,385 | $ | 309,190 | ||||||||||||||||||||||||
Commercial mortgage | 24,447 | 4,179 | 21,327 | 49,953 | 5,979,482 | 6,029,435 | ||||||||||||||||||||||||||||||
Other commercial real estate | 387 | 1,240 | 1,034 | 2,661 | 158,319 | 160,980 | ||||||||||||||||||||||||||||||
Commercial and industrial | 2,833 | 1,096 | 605 | 4,534 | 1,033,996 | 1,038,530 | ||||||||||||||||||||||||||||||
Lease financing | 991 | 138 | 621 | 1,750 | 328,929 | 330,679 | ||||||||||||||||||||||||||||||
Other | 18 | 13 | — | 31 | 125,650 | 125,681 | ||||||||||||||||||||||||||||||
Residential mortgage | 15,711 | 7,559 | 12,993 | 36,263 | 786,626 | 822,889 | ||||||||||||||||||||||||||||||
Revolving mortgage | 12,868 | 3,200 | 3,879 | 19,947 | 2,190,186 | 2,210,133 | ||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 1,941 | 490 | 797 | 3,228 | 128,764 | 131,992 | ||||||||||||||||||||||||||||||
Consumer | 4,405 | 1,705 | 1,278 | 7,388 | 409,218 | 416,606 | ||||||||||||||||||||||||||||||
Total originated loans and leases | $ | 64,528 | $ | 19,620 | $ | 50,412 | $ | 134,560 | $ | 11,441,555 | $ | 11,576,115 | ||||||||||||||||||||||||
Recorded Investment, By Class, In Loans And Leases On Nonaccrual Status And Loans And Leases Greater Than 90 Days Past Due And Still Accruing | ' | |||||||||||||||||||||||||||||||||||
The recorded investment, by class, in loans and leases on nonaccrual status, and loans and leases greater than 90 days past due and still accruing at December 31, 2013, and December 31, 2012, (excluding loans and leases acquired with deteriorated credit quality) are as follows: | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||||||
Nonaccrual | Loans and | Nonaccrual | Loans and | |||||||||||||||||||||||||||||||||
loans and | leases > 90 | loans and | leases > 90 | |||||||||||||||||||||||||||||||||
leases | days and | leases | days and | |||||||||||||||||||||||||||||||||
accruing | accruing | |||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
Originated loans and leases: | ||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 544 | $ | — | $ | 14,930 | $ | 541 | ||||||||||||||||||||||||||||
Commercial mortgage | 33,529 | 1,113 | 50,532 | 1,671 | ||||||||||||||||||||||||||||||||
Commercial and industrial | 1,428 | 294 | 6,972 | 466 | ||||||||||||||||||||||||||||||||
Lease financing | 832 | — | 1,075 | — | ||||||||||||||||||||||||||||||||
Other commercial real estate | 1,610 | — | 2,319 | — | ||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 457 | 256 | 668 | 111 | ||||||||||||||||||||||||||||||||
Residential mortgage | 14,701 | 1,998 | 12,603 | 3,337 | ||||||||||||||||||||||||||||||||
Revolving mortgage | — | 4,450 | — | 3,877 | ||||||||||||||||||||||||||||||||
Consumer | 69 | 673 | 746 | 1,269 | ||||||||||||||||||||||||||||||||
Total originated loans and leases | $ | 53,170 | $ | 8,784 | $ | 89,845 | $ | 11,272 | ||||||||||||||||||||||||||||
Changes In Carrying Value Of Acquired Impaired Loans | ' | |||||||||||||||||||||||||||||||||||
The following table provides changes in the carrying value of acquired loans during the years ended December 31, 2013, and December 31, 2012: | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
Balance at January 1 | $ | 1,809,235 | $ | 2,362,152 | ||||||||||||||||||||||||||||||||
Reductions for repayments, foreclosures and decreases in fair value | (779,809 | ) | (552,917 | ) | ||||||||||||||||||||||||||||||||
Balance at December 31 | $ | 1,029,426 | $ | 1,809,235 | ||||||||||||||||||||||||||||||||
Outstanding principal balance at December 31 | $ | 1,833,955 | $ | 3,281,958 | ||||||||||||||||||||||||||||||||
Changes In The Amount Of Accretable Yield | ' | |||||||||||||||||||||||||||||||||||
The following table documents changes to the amount of accretable yield for 2013 and 2012. Removals represent a reduction to the accretable yield as a result of loans that were fully charged off or paid off during the period. | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
Balance at January 1 | $ | 539,564 | $ | 276,690 | ||||||||||||||||||||||||||||||||
Accretion | (224,672 | ) | (304,023 | ) | ||||||||||||||||||||||||||||||||
Reclassifications from nonaccretable difference | 92,349 | 353,708 | ||||||||||||||||||||||||||||||||||
Changes in expected cash flows that do not affect nonaccretable difference | 32,749 | 213,189 | ||||||||||||||||||||||||||||||||||
Balance at December 31 | $ | 439,990 | $ | 539,564 | ||||||||||||||||||||||||||||||||
For loans acquired from 1st Financial, the contractually required payments including principal and interest, cash flows expected to be collected and fair values as of the acquisition date were: | ||||||||||||||||||||||||||||||||||||
1-Jan-14 | ||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||
Contractually required payments | $ | 413,937 | ||||||||||||||||||||||||||||||||||
Cash flows expected to be collected | 400,326 | |||||||||||||||||||||||||||||||||||
Fair value at acquisition date | 316,327 | |||||||||||||||||||||||||||||||||||
Allowance_for_Loan_and_Lease_L1
Allowance for Loan and Lease Losses (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses, Adjustments, Net [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructuring, Summary of Accrual Status [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||||||||||
The following table provides a summary of total TDRs by accrual status. | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
Accruing | Nonaccruing | Total | Accruing | Nonaccruing | Total | |||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 21,032 | $ | 1,002 | $ | 22,034 | $ | 47,368 | $ | 26,920 | $ | 74,288 | ||||||||||||||||||||||||||||||||||||
Commercial mortgage | 113,323 | 23,387 | 136,710 | 151,728 | 37,603 | 189,331 | ||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 3,470 | 1,150 | 4,620 | 10,137 | 2,194 | 12,331 | ||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 9,838 | 1,142 | 10,980 | 10,940 | 7,237 | 18,177 | ||||||||||||||||||||||||||||||||||||||||||
Lease | 49 | — | 49 | 224 | — | 224 | ||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 147,712 | 26,681 | 174,393 | 220,397 | 73,954 | 294,351 | ||||||||||||||||||||||||||||||||||||||||||
Noncommercial | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 23,343 | 3,663 | 27,006 | 28,777 | 5,828 | 34,605 | ||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 3,095 | — | 3,095 | 48 | — | 48 | ||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 651 | 457 | 1,108 | 1,657 | — | 1,657 | ||||||||||||||||||||||||||||||||||||||||||
Consumer and other | 1,154 | — | 1,154 | 2,509 | — | 2,509 | ||||||||||||||||||||||||||||||||||||||||||
Total noncommercial loans | 28,243 | 4,120 | 32,363 | 32,991 | 5,828 | 38,819 | ||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 175,955 | $ | 30,801 | $ | 206,756 | $ | 253,388 | $ | 79,782 | $ | 333,170 | ||||||||||||||||||||||||||||||||||||
Allocation of Allowance for Loan and Lease Losses [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||||||||||
Activity in the allowance for loan and lease losses is summarized as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated | Acquired | Total | ||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2010 | $ | 176,517 | $ | 51,248 | $ | 227,765 | ||||||||||||||||||||||||||||||||||||||||||
Provision for loan and lease losses | 57,799 | 174,478 | 232,277 | |||||||||||||||||||||||||||||||||||||||||||||
Loans and leases charged off | (59,287 | ) | (137,553 | ) | (196,840 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loans and leases recovered | 5,854 | 1,088 | 6,942 | |||||||||||||||||||||||||||||||||||||||||||||
Net charge-offs | (53,433 | ) | (136,465 | ) | (189,898 | ) | ||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2011 | 180,883 | 89,261 | 270,144 | |||||||||||||||||||||||||||||||||||||||||||||
Provision for loan and lease losses | 42,046 | 100,839 | 142,885 | |||||||||||||||||||||||||||||||||||||||||||||
Loans and leases charged off | (50,208 | ) | (50,270 | ) | (100,478 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loans and leases recovered | 6,325 | 142 | 6,467 | |||||||||||||||||||||||||||||||||||||||||||||
Net charge-offs | (43,883 | ) | (50,128 | ) | (94,011 | ) | ||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2012 | 179,046 | 139,972 | 319,018 | |||||||||||||||||||||||||||||||||||||||||||||
Reclassification (1) | 7,368 | — | 7,368 | |||||||||||||||||||||||||||||||||||||||||||||
Provision for loan and lease losses | 19,289 | (51,544 | ) | (32,255 | ) | |||||||||||||||||||||||||||||||||||||||||||
Loans and leases charged off | (33,118 | ) | (34,908 | ) | (68,026 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loans and leases recovered | 7,289 | — | 7,289 | |||||||||||||||||||||||||||||||||||||||||||||
Net charge-offs | (25,829 | ) | (34,908 | ) | (60,737 | ) | ||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 179,874 | $ | 53,520 | $ | 233,394 | ||||||||||||||||||||||||||||||||||||||||||
(1) Reclassification results from enhancements to the ALLL calculation during the second quarter of 2013 that resulted in the allocation of $15.8 million previously designated as 'nonspecific' to other loan classes and the absorption of $7.4 million of the reserve for unfunded commitments related to unfunded, revocable loan commitments into the ALLL. Further discussion is contained in Note A. | ||||||||||||||||||||||||||||||||||||||||||||||||
Activity in the allowance for loan and lease losses, ending balances of loans and leases and related allowance by class of loans is summarized as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction | Commercial | Other | Commercial | Lease | Other | Residential | Revolving | Construction | Consumer | Non- | Total | |||||||||||||||||||||||||||||||||||||
and land | mortgage | commercial | and | financing | mortgage | mortgage | and land | specific | ||||||||||||||||||||||||||||||||||||||||
development | real estate | industrial | development | |||||||||||||||||||||||||||||||||||||||||||||
- commercial | - non- | |||||||||||||||||||||||||||||||||||||||||||||||
commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated Loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses: | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2012 | $ | 5,467 | $ | 67,486 | $ | 2,169 | $ | 23,723 | $ | 3,288 | $ | 1,315 | $ | 8,879 | $ | 27,045 | $ | 1,427 | $ | 25,962 | $ | 14,122 | $ | 180,883 | ||||||||||||||||||||||||
Provision | 9,665 | 18,198 | 130 | (4,982 | ) | 498 | (116 | ) | (782 | ) | 8,783 | 1,161 | 7,763 | 1,728 | 42,046 | |||||||||||||||||||||||||||||||||
Charge-offs | (9,546 | ) | (7,081 | ) | (254 | ) | (5,472 | ) | (361 | ) | (28 | ) | (4,790 | ) | (11,341 | ) | (1,047 | ) | (10,288 | ) | — | (50,208 | ) | |||||||||||||||||||||||||
Recoveries | 445 | 1,626 | 14 | 781 | 96 | 4 | 529 | 698 | 180 | 1,952 | — | 6,325 | ||||||||||||||||||||||||||||||||||||
Balance at December 31, 2012 | 6,031 | 80,229 | 2,059 | 14,050 | 3,521 | 1,175 | 3,836 | 25,185 | 1,721 | 25,389 | 15,850 | 179,046 | ||||||||||||||||||||||||||||||||||||
Reclassification (1) | 5,141 | 27,421 | (815 | ) | 7,551 | (253 | ) | (1,288 | ) | 5,717 | (9,838 | ) | (478 | ) | (10,018 | ) | (15,772 | ) | 7,368 | |||||||||||||||||||||||||||||
Provision | 2,809 | (4,485 | ) | (32 | ) | 4,333 | 1,646 | 308 | 2,786 | 6,296 | (379 | ) | 6,085 | (78 | ) | 19,289 | ||||||||||||||||||||||||||||||||
Charge-offs | (4,685 | ) | (3,904 | ) | (312 | ) | (4,785 | ) | (272 | ) | (6 | ) | (2,387 | ) | (6,064 | ) | (392 | ) | (10,311 | ) | — | (33,118 | ) | |||||||||||||||||||||||||
Recoveries | 1,039 | 996 | 109 | 1,213 | 107 | 1 | 559 | 660 | 209 | 2,396 | — | 7,289 | ||||||||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 10,335 | $ | 100,257 | $ | 1,009 | $ | 22,362 | $ | 4,749 | $ | 190 | $ | 10,511 | $ | 16,239 | $ | 681 | $ | 13,541 | $ | — | $ | 179,874 | ||||||||||||||||||||||||
(1) Reclassification results from enhancements to the ALLL calculation during the second quarter of 2013 that resulted in the allocation of $15.8 million previously designated as 'nonspecific' to other loan classes and the absorption of $7.4 million of the reserve for unfunded commitments related to unfunded, revocable loan commitments into the ALLL. Further discussion is contained in Note A. | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction | Commercial | Other | Commercial | Lease | Other | Residential | Revolving | Construction | Consumer | Non- | Total | |||||||||||||||||||||||||||||||||||||
and land | mortgage | commercial | and industrial | financing | mortgage | mortgage | and land | specific | ||||||||||||||||||||||||||||||||||||||||
development | real estate | development | ||||||||||||||||||||||||||||||||||||||||||||||
- commercial | - non-commercial | |||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses: | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
ALLL for loans and leases individually evaluated for impairment | $ | 103 | $ | 6,873 | $ | 209 | $ | 771 | $ | 54 | $ | — | $ | 1,586 | $ | 372 | $ | 72 | $ | 121 | $ | — | $ | 10,161 | ||||||||||||||||||||||||
ALLL for loans and leases collectively evaluated for impairment | 10,232 | 93,384 | 800 | 21,591 | 4,695 | 190 | 8,925 | 15,867 | 609 | 13,420 | — | 169,713 | ||||||||||||||||||||||||||||||||||||
Nonspecific ALLL | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Total allowance for loan and lease losses | $ | 10,335 | $ | 100,257 | $ | 1,009 | $ | 22,362 | $ | 4,749 | $ | 190 | $ | 10,511 | $ | 16,239 | $ | 681 | $ | 13,541 | $ | — | $ | 179,874 | ||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
ALLL for loans and leases individually evaluated for impairment | $ | 2,469 | $ | 11,697 | $ | 298 | $ | 2,133 | $ | 202 | $ | 53 | $ | 959 | $ | 1 | $ | 287 | $ | 256 | $ | — | $ | 18,355 | ||||||||||||||||||||||||
ALLL for loans and leases collectively evaluated for impairment | 3,562 | 68,532 | 1,761 | 11,917 | 3,319 | 1,122 | 2,877 | 25,184 | 1,434 | 25,133 | — | 144,841 | ||||||||||||||||||||||||||||||||||||
Nonspecific ALLL | — | — | — | — | — | — | — | — | — | — | 15,850 | 15,850 | ||||||||||||||||||||||||||||||||||||
Total allowance for loan and lease losses | $ | 6,031 | $ | 80,229 | $ | 2,059 | $ | 14,050 | $ | 3,521 | $ | 1,175 | $ | 3,836 | $ | 25,185 | $ | 1,721 | $ | 25,389 | $ | 15,850 | $ | 179,046 | ||||||||||||||||||||||||
Construction | Commercial | Other | Commercial | Lease | Other | Residential | Revolving | Construction | Consumer | Non- | Total | |||||||||||||||||||||||||||||||||||||
and land | mortgage | commercial | and industrial | financing | mortgage | mortgage | and land | specific | ||||||||||||||||||||||||||||||||||||||||
development | real estate | development | ||||||||||||||||||||||||||||||||||||||||||||||
- commercial | - non-commercial | |||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases individually evaluated for impairment | $ | 2,272 | $ | 97,111 | $ | 1,878 | $ | 9,300 | $ | 188 | $ | — | $ | 15,539 | $ | 3,596 | $ | 1,108 | $ | 1,154 | $ | — | $ | 132,146 | ||||||||||||||||||||||||
Loans and leases collectively evaluated for impairment | 317,575 | 6,265,379 | 176,876 | 1,071,858 | 381,575 | 175,336 | 966,882 | 2,109,689 | 121,684 | 385,298 | — | 11,972,152 | ||||||||||||||||||||||||||||||||||||
Total loan and leases | $ | 319,847 | $ | 6,362,490 | $ | 178,754 | $ | 1,081,158 | $ | 381,763 | $ | 175,336 | $ | 982,421 | $ | 2,113,285 | $ | 122,792 | $ | 386,452 | $ | — | $ | 12,104,298 | ||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases individually evaluated for impairment | $ | 17,075 | $ | 133,804 | $ | 3,375 | $ | 22,619 | $ | 804 | $ | 707 | $ | 15,836 | $ | 4,203 | $ | 1,321 | $ | 2,509 | $ | — | $ | 202,253 | ||||||||||||||||||||||||
Loans and leases collectively evaluated for impairment | 292,115 | 5,895,631 | 157,605 | 1,015,911 | 329,875 | 124,974 | 807,053 | 2,205,930 | 130,671 | 414,097 | — | 11,373,862 | ||||||||||||||||||||||||||||||||||||
Total loan and leases | $ | 309,190 | $ | 6,029,435 | $ | 160,980 | $ | 1,038,530 | $ | 330,679 | $ | 125,681 | $ | 822,889 | $ | 2,210,133 | $ | 131,992 | $ | 416,606 | $ | — | $ | 11,576,115 | ||||||||||||||||||||||||
Construction | Commercial | Other | Commercial | Lease | Residential | Revolving | Construction | Consumer | Total | |||||||||||||||||||||||||||||||||||||||
and land | mortgage | commercial | and | financing | mortgage | mortgage | and land | and other | ||||||||||||||||||||||||||||||||||||||||
development - | real estate | industrial | development - | |||||||||||||||||||||||||||||||||||||||||||||
commercial | noncommercial | |||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Acquired Loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses: | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2012 | $ | 16,693 | $ | 39,557 | $ | 16,862 | $ | 5,500 | $ | 13 | $ | 5,433 | $ | 77 | $ | 4,652 | $ | 474 | $ | 89,261 | ||||||||||||||||||||||||||||
Provision | 23,160 | 34,227 | (4,372 | ) | 11,839 | (13 | ) | 18,401 | 10,796 | 6,520 | 281 | 100,839 | ||||||||||||||||||||||||||||||||||||
Charge-offs | (8,667 | ) | (23,509 | ) | (1,256 | ) | (8,442 | ) | — | (4,139 | ) | (1,119 | ) | (2,885 | ) | (253 | ) | (50,270 | ) | |||||||||||||||||||||||||||||
Recoveries | — | — | — | — | — | 142 | — | — | — | 142 | ||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2012 | 31,186 | 50,275 | 11,234 | 8,897 | — | 19,837 | 9,754 | 8,287 | 502 | 139,972 | ||||||||||||||||||||||||||||||||||||||
Provision | (22,942 | ) | (3,872 | ) | (8,949 | ) | 470 | — | (5,487 | ) | (6,399 | ) | (4,170 | ) | (195 | ) | (51,544 | ) | ||||||||||||||||||||||||||||||
Charge-offs | (6,924 | ) | (16,497 | ) | (931 | ) | (4,092 | ) | — | (2,548 | ) | (396 | ) | (3,435 | ) | (85 | ) | (34,908 | ) | |||||||||||||||||||||||||||||
Recoveries | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 1,320 | $ | 29,906 | $ | 1,354 | $ | 5,275 | $ | — | $ | 11,802 | $ | 2,959 | $ | 682 | $ | 222 | $ | 53,520 | ||||||||||||||||||||||||||||
Allowance for loan and lease losses: | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
ALLL for loans and leases acquired with deteriorated credit quality | $ | 1,320 | $ | 29,906 | $ | 1,354 | $ | 5,275 | $ | — | $ | 11,802 | $ | 2,959 | $ | 682 | $ | 222 | $ | 53,520 | ||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
ALLL for loans and leases acquired with deteriorated credit quality | 31,186 | 50,275 | 11,234 | 8,897 | — | 19,837 | 9,754 | 8,287 | 502 | 139,972 | ||||||||||||||||||||||||||||||||||||||
Loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases acquired with deteriorated credit quality | 78,915 | 642,891 | 41,381 | 17,254 | — | 213,851 | 30,834 | 2,583 | 1,717 | 1,029,426 | ||||||||||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases acquired with deteriorated credit quality | 237,906 | 1,054,473 | 107,119 | 49,463 | — | 297,926 | 38,710 | 20,793 | 2,845 | 1,809,235 | ||||||||||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses | ' | |||||||||||||||||||||||||||||||||||||||||||||||
ALLOWANCE FOR LOAN AND LEASE LOSSES | ||||||||||||||||||||||||||||||||||||||||||||||||
Activity in the allowance for loan and lease losses is summarized as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated | Acquired | Total | ||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2010 | $ | 176,517 | $ | 51,248 | $ | 227,765 | ||||||||||||||||||||||||||||||||||||||||||
Provision for loan and lease losses | 57,799 | 174,478 | 232,277 | |||||||||||||||||||||||||||||||||||||||||||||
Loans and leases charged off | (59,287 | ) | (137,553 | ) | (196,840 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loans and leases recovered | 5,854 | 1,088 | 6,942 | |||||||||||||||||||||||||||||||||||||||||||||
Net charge-offs | (53,433 | ) | (136,465 | ) | (189,898 | ) | ||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2011 | 180,883 | 89,261 | 270,144 | |||||||||||||||||||||||||||||||||||||||||||||
Provision for loan and lease losses | 42,046 | 100,839 | 142,885 | |||||||||||||||||||||||||||||||||||||||||||||
Loans and leases charged off | (50,208 | ) | (50,270 | ) | (100,478 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loans and leases recovered | 6,325 | 142 | 6,467 | |||||||||||||||||||||||||||||||||||||||||||||
Net charge-offs | (43,883 | ) | (50,128 | ) | (94,011 | ) | ||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2012 | 179,046 | 139,972 | 319,018 | |||||||||||||||||||||||||||||||||||||||||||||
Reclassification (1) | 7,368 | — | 7,368 | |||||||||||||||||||||||||||||||||||||||||||||
Provision for loan and lease losses | 19,289 | (51,544 | ) | (32,255 | ) | |||||||||||||||||||||||||||||||||||||||||||
Loans and leases charged off | (33,118 | ) | (34,908 | ) | (68,026 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loans and leases recovered | 7,289 | — | 7,289 | |||||||||||||||||||||||||||||||||||||||||||||
Net charge-offs | (25,829 | ) | (34,908 | ) | (60,737 | ) | ||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 179,874 | $ | 53,520 | $ | 233,394 | ||||||||||||||||||||||||||||||||||||||||||
(1) Reclassification results from enhancements to the ALLL calculation during the second quarter of 2013 that resulted in the allocation of $15.8 million previously designated as 'nonspecific' to other loan classes and the absorption of $7.4 million of the reserve for unfunded commitments related to unfunded, revocable loan commitments into the ALLL. Further discussion is contained in Note A. | ||||||||||||||||||||||||||||||||||||||||||||||||
Activity in the allowance for loan and lease losses, ending balances of loans and leases and related allowance by class of loans is summarized as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction | Commercial | Other | Commercial | Lease | Other | Residential | Revolving | Construction | Consumer | Non- | Total | |||||||||||||||||||||||||||||||||||||
and land | mortgage | commercial | and | financing | mortgage | mortgage | and land | specific | ||||||||||||||||||||||||||||||||||||||||
development | real estate | industrial | development | |||||||||||||||||||||||||||||||||||||||||||||
- commercial | - non- | |||||||||||||||||||||||||||||||||||||||||||||||
commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated Loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses: | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2012 | $ | 5,467 | $ | 67,486 | $ | 2,169 | $ | 23,723 | $ | 3,288 | $ | 1,315 | $ | 8,879 | $ | 27,045 | $ | 1,427 | $ | 25,962 | $ | 14,122 | $ | 180,883 | ||||||||||||||||||||||||
Provision | 9,665 | 18,198 | 130 | (4,982 | ) | 498 | (116 | ) | (782 | ) | 8,783 | 1,161 | 7,763 | 1,728 | 42,046 | |||||||||||||||||||||||||||||||||
Charge-offs | (9,546 | ) | (7,081 | ) | (254 | ) | (5,472 | ) | (361 | ) | (28 | ) | (4,790 | ) | (11,341 | ) | (1,047 | ) | (10,288 | ) | — | (50,208 | ) | |||||||||||||||||||||||||
Recoveries | 445 | 1,626 | 14 | 781 | 96 | 4 | 529 | 698 | 180 | 1,952 | — | 6,325 | ||||||||||||||||||||||||||||||||||||
Balance at December 31, 2012 | 6,031 | 80,229 | 2,059 | 14,050 | 3,521 | 1,175 | 3,836 | 25,185 | 1,721 | 25,389 | 15,850 | 179,046 | ||||||||||||||||||||||||||||||||||||
Reclassification (1) | 5,141 | 27,421 | (815 | ) | 7,551 | (253 | ) | (1,288 | ) | 5,717 | (9,838 | ) | (478 | ) | (10,018 | ) | (15,772 | ) | 7,368 | |||||||||||||||||||||||||||||
Provision | 2,809 | (4,485 | ) | (32 | ) | 4,333 | 1,646 | 308 | 2,786 | 6,296 | (379 | ) | 6,085 | (78 | ) | 19,289 | ||||||||||||||||||||||||||||||||
Charge-offs | (4,685 | ) | (3,904 | ) | (312 | ) | (4,785 | ) | (272 | ) | (6 | ) | (2,387 | ) | (6,064 | ) | (392 | ) | (10,311 | ) | — | (33,118 | ) | |||||||||||||||||||||||||
Recoveries | 1,039 | 996 | 109 | 1,213 | 107 | 1 | 559 | 660 | 209 | 2,396 | — | 7,289 | ||||||||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 10,335 | $ | 100,257 | $ | 1,009 | $ | 22,362 | $ | 4,749 | $ | 190 | $ | 10,511 | $ | 16,239 | $ | 681 | $ | 13,541 | $ | — | $ | 179,874 | ||||||||||||||||||||||||
(1) Reclassification results from enhancements to the ALLL calculation during the second quarter of 2013 that resulted in the allocation of $15.8 million previously designated as 'nonspecific' to other loan classes and the absorption of $7.4 million of the reserve for unfunded commitments related to unfunded, revocable loan commitments into the ALLL. Further discussion is contained in Note A. | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction | Commercial | Other | Commercial | Lease | Other | Residential | Revolving | Construction | Consumer | Non- | Total | |||||||||||||||||||||||||||||||||||||
and land | mortgage | commercial | and industrial | financing | mortgage | mortgage | and land | specific | ||||||||||||||||||||||||||||||||||||||||
development | real estate | development | ||||||||||||||||||||||||||||||||||||||||||||||
- commercial | - non-commercial | |||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses: | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
ALLL for loans and leases individually evaluated for impairment | $ | 103 | $ | 6,873 | $ | 209 | $ | 771 | $ | 54 | $ | — | $ | 1,586 | $ | 372 | $ | 72 | $ | 121 | $ | — | $ | 10,161 | ||||||||||||||||||||||||
ALLL for loans and leases collectively evaluated for impairment | 10,232 | 93,384 | 800 | 21,591 | 4,695 | 190 | 8,925 | 15,867 | 609 | 13,420 | — | 169,713 | ||||||||||||||||||||||||||||||||||||
Nonspecific ALLL | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Total allowance for loan and lease losses | $ | 10,335 | $ | 100,257 | $ | 1,009 | $ | 22,362 | $ | 4,749 | $ | 190 | $ | 10,511 | $ | 16,239 | $ | 681 | $ | 13,541 | $ | — | $ | 179,874 | ||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
ALLL for loans and leases individually evaluated for impairment | $ | 2,469 | $ | 11,697 | $ | 298 | $ | 2,133 | $ | 202 | $ | 53 | $ | 959 | $ | 1 | $ | 287 | $ | 256 | $ | — | $ | 18,355 | ||||||||||||||||||||||||
ALLL for loans and leases collectively evaluated for impairment | 3,562 | 68,532 | 1,761 | 11,917 | 3,319 | 1,122 | 2,877 | 25,184 | 1,434 | 25,133 | — | 144,841 | ||||||||||||||||||||||||||||||||||||
Nonspecific ALLL | — | — | — | — | — | — | — | — | — | — | 15,850 | 15,850 | ||||||||||||||||||||||||||||||||||||
Total allowance for loan and lease losses | $ | 6,031 | $ | 80,229 | $ | 2,059 | $ | 14,050 | $ | 3,521 | $ | 1,175 | $ | 3,836 | $ | 25,185 | $ | 1,721 | $ | 25,389 | $ | 15,850 | $ | 179,046 | ||||||||||||||||||||||||
Construction | Commercial | Other | Commercial | Lease | Other | Residential | Revolving | Construction | Consumer | Non- | Total | |||||||||||||||||||||||||||||||||||||
and land | mortgage | commercial | and industrial | financing | mortgage | mortgage | and land | specific | ||||||||||||||||||||||||||||||||||||||||
development | real estate | development | ||||||||||||||||||||||||||||||||||||||||||||||
- commercial | - non-commercial | |||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases individually evaluated for impairment | $ | 2,272 | $ | 97,111 | $ | 1,878 | $ | 9,300 | $ | 188 | $ | — | $ | 15,539 | $ | 3,596 | $ | 1,108 | $ | 1,154 | $ | — | $ | 132,146 | ||||||||||||||||||||||||
Loans and leases collectively evaluated for impairment | 317,575 | 6,265,379 | 176,876 | 1,071,858 | 381,575 | 175,336 | 966,882 | 2,109,689 | 121,684 | 385,298 | — | 11,972,152 | ||||||||||||||||||||||||||||||||||||
Total loan and leases | $ | 319,847 | $ | 6,362,490 | $ | 178,754 | $ | 1,081,158 | $ | 381,763 | $ | 175,336 | $ | 982,421 | $ | 2,113,285 | $ | 122,792 | $ | 386,452 | $ | — | $ | 12,104,298 | ||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases individually evaluated for impairment | $ | 17,075 | $ | 133,804 | $ | 3,375 | $ | 22,619 | $ | 804 | $ | 707 | $ | 15,836 | $ | 4,203 | $ | 1,321 | $ | 2,509 | $ | — | $ | 202,253 | ||||||||||||||||||||||||
Loans and leases collectively evaluated for impairment | 292,115 | 5,895,631 | 157,605 | 1,015,911 | 329,875 | 124,974 | 807,053 | 2,205,930 | 130,671 | 414,097 | — | 11,373,862 | ||||||||||||||||||||||||||||||||||||
Total loan and leases | $ | 309,190 | $ | 6,029,435 | $ | 160,980 | $ | 1,038,530 | $ | 330,679 | $ | 125,681 | $ | 822,889 | $ | 2,210,133 | $ | 131,992 | $ | 416,606 | $ | — | $ | 11,576,115 | ||||||||||||||||||||||||
Construction | Commercial | Other | Commercial | Lease | Residential | Revolving | Construction | Consumer | Total | |||||||||||||||||||||||||||||||||||||||
and land | mortgage | commercial | and | financing | mortgage | mortgage | and land | and other | ||||||||||||||||||||||||||||||||||||||||
development - | real estate | industrial | development - | |||||||||||||||||||||||||||||||||||||||||||||
commercial | noncommercial | |||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Acquired Loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses: | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2012 | $ | 16,693 | $ | 39,557 | $ | 16,862 | $ | 5,500 | $ | 13 | $ | 5,433 | $ | 77 | $ | 4,652 | $ | 474 | $ | 89,261 | ||||||||||||||||||||||||||||
Provision | 23,160 | 34,227 | (4,372 | ) | 11,839 | (13 | ) | 18,401 | 10,796 | 6,520 | 281 | 100,839 | ||||||||||||||||||||||||||||||||||||
Charge-offs | (8,667 | ) | (23,509 | ) | (1,256 | ) | (8,442 | ) | — | (4,139 | ) | (1,119 | ) | (2,885 | ) | (253 | ) | (50,270 | ) | |||||||||||||||||||||||||||||
Recoveries | — | — | — | — | — | 142 | — | — | — | 142 | ||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2012 | 31,186 | 50,275 | 11,234 | 8,897 | — | 19,837 | 9,754 | 8,287 | 502 | 139,972 | ||||||||||||||||||||||||||||||||||||||
Provision | (22,942 | ) | (3,872 | ) | (8,949 | ) | 470 | — | (5,487 | ) | (6,399 | ) | (4,170 | ) | (195 | ) | (51,544 | ) | ||||||||||||||||||||||||||||||
Charge-offs | (6,924 | ) | (16,497 | ) | (931 | ) | (4,092 | ) | — | (2,548 | ) | (396 | ) | (3,435 | ) | (85 | ) | (34,908 | ) | |||||||||||||||||||||||||||||
Recoveries | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 1,320 | $ | 29,906 | $ | 1,354 | $ | 5,275 | $ | — | $ | 11,802 | $ | 2,959 | $ | 682 | $ | 222 | $ | 53,520 | ||||||||||||||||||||||||||||
Allowance for loan and lease losses: | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
ALLL for loans and leases acquired with deteriorated credit quality | $ | 1,320 | $ | 29,906 | $ | 1,354 | $ | 5,275 | $ | — | $ | 11,802 | $ | 2,959 | $ | 682 | $ | 222 | $ | 53,520 | ||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
ALLL for loans and leases acquired with deteriorated credit quality | 31,186 | 50,275 | 11,234 | 8,897 | — | 19,837 | 9,754 | 8,287 | 502 | 139,972 | ||||||||||||||||||||||||||||||||||||||
Loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases acquired with deteriorated credit quality | 78,915 | 642,891 | 41,381 | 17,254 | — | 213,851 | 30,834 | 2,583 | 1,717 | 1,029,426 | ||||||||||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases acquired with deteriorated credit quality | 237,906 | 1,054,473 | 107,119 | 49,463 | — | 297,926 | 38,710 | 20,793 | 2,845 | 1,809,235 | ||||||||||||||||||||||||||||||||||||||
The following tables provide information on originated impaired loans and leases, exclusive of loans and leases evaluated collectively as a homogeneous group, including interest income recognized in the period during which the loans and leases were considered impaired. | ||||||||||||||||||||||||||||||||||||||||||||||||
With a | With no | Total | Unpaid | Related | ||||||||||||||||||||||||||||||||||||||||||||
recorded | recorded | principal | allowance | |||||||||||||||||||||||||||||||||||||||||||||
allowance | allowance | balance | recorded | |||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Impaired originated loans and leases | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 1,025 | $ | 1,247 | $ | 2,272 | $ | 7,306 | $ | 103 | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 57,819 | 39,292 | 97,111 | 103,522 | 6,873 | |||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 783 | 1,095 | 1,878 | 2,279 | 209 | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 7,197 | 2,103 | 9,300 | 10,393 | 771 | |||||||||||||||||||||||||||||||||||||||||||
Lease financing | 133 | 55 | 188 | 188 | 54 | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 11,534 | 4,005 | 15,539 | 15,939 | 1,586 | |||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 3,382 | 214 | 3,596 | 3,596 | 372 | |||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 651 | 457 | 1,108 | 1,108 | 72 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,154 | — | 1,154 | 1,154 | 121 | |||||||||||||||||||||||||||||||||||||||||||
Total impaired originated loans and leases | $ | 83,678 | $ | 48,468 | $ | 132,146 | $ | 145,485 | $ | 10,161 | ||||||||||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Impaired originated loans and leases | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 5,941 | $ | 11,134 | $ | 17,075 | $ | 32,898 | $ | 2,469 | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 39,648 | 94,156 | 133,804 | 136,743 | 11,697 | |||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 1,425 | 1,950 | 3,375 | 3,475 | 298 | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 7,429 | 15,190 | 22,619 | 22,619 | 2,133 | |||||||||||||||||||||||||||||||||||||||||||
Lease financing | 665 | 139 | 804 | 804 | 202 | |||||||||||||||||||||||||||||||||||||||||||
Other | — | 707 | 707 | 707 | 53 | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 9,346 | 6,490 | 15,836 | 16,229 | 959 | |||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 1,238 | 2,965 | 4,203 | 4,203 | 1 | |||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 1,162 | 159 | 1,321 | 1,321 | 287 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,609 | 900 | 2,509 | 2,509 | 256 | |||||||||||||||||||||||||||||||||||||||||||
Nonspecific | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Total impaired originated loans and leases | $ | 68,463 | $ | 133,790 | $ | 202,253 | $ | 221,508 | $ | 18,355 | ||||||||||||||||||||||||||||||||||||||
YTD | YTD Interest Income Recognized | |||||||||||||||||||||||||||||||||||||||||||||||
Average | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance | ||||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated impaired loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 6,414 | $ | 270 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 105,628 | 5,702 | ||||||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 2,658 | 144 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 12,772 | 642 | ||||||||||||||||||||||||||||||||||||||||||||||
Lease financing | 350 | 22 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 15,470 | 444 | ||||||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 5,653 | 485 | ||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 958 | 55 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,427 | 53 | ||||||||||||||||||||||||||||||||||||||||||||||
Total originated impaired loans and leases | $ | 151,330 | $ | 7,817 | ||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated impaired loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 22,493 | $ | 399 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 96,082 | 4,630 | ||||||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 2,690 | 142 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 13,658 | 788 | ||||||||||||||||||||||||||||||||||||||||||||||
Lease financing | 497 | 37 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | 424 | 23 | ||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 14,951 | 586 | ||||||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 2,931 | 68 | ||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 2,850 | 41 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,850 | 21 | ||||||||||||||||||||||||||||||||||||||||||||||
Total originated impaired loans and leases | $ | 158,426 | $ | 6,735 | ||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated impaired loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 26,612 | $ | 56 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 65,729 | 1,330 | ||||||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 1,368 | 55 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 12,984 | 456 | ||||||||||||||||||||||||||||||||||||||||||||||
Lease financing | 587 | 21 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | 38 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 9,252 | 300 | ||||||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 2,022 | 105 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 636 | 18 | ||||||||||||||||||||||||||||||||||||||||||||||
Total originated impaired loans and leases | $ | 119,228 | $ | 2,341 | ||||||||||||||||||||||||||||||||||||||||||||
At December 31, 2013, acquired loans that have had an adverse change in expected cash flows since the date of acquisition equaled $459.9 million, for which $53.5 million in related allowance for loan losses has been recorded. | ||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | ||||||||||||||||||||||||||||||||||||||||||||||||
BancShares accounts for certain loan modifications or restructurings as troubled debt restructurings (TDRs). In general, the modification or restructuring of a loan is considered a TDR if, for economic reasons or legal reasons related to a borrower's financial difficulties, a concession is granted to the borrower that creditors would not otherwise consider. Concessions may relate to the contractual interest rate, maturity date, payment structure or other actions. In accordance with GAAP, loans acquired under ASC 310-30, Loans and Debt Securities Acquired | ||||||||||||||||||||||||||||||||||||||||||||||||
with Deteriorated Credit Quality, are not initially considered to be TDRs, but can be classified as such if a modification is made subsequent to acquisition. The following table provides a summary of total TDRs by accrual status. | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
Accruing | Nonaccruing | Total | Accruing | Nonaccruing | Total | |||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 21,032 | $ | 1,002 | $ | 22,034 | $ | 47,368 | $ | 26,920 | $ | 74,288 | ||||||||||||||||||||||||||||||||||||
Commercial mortgage | 113,323 | 23,387 | 136,710 | 151,728 | 37,603 | 189,331 | ||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 3,470 | 1,150 | 4,620 | 10,137 | 2,194 | 12,331 | ||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 9,838 | 1,142 | 10,980 | 10,940 | 7,237 | 18,177 | ||||||||||||||||||||||||||||||||||||||||||
Lease | 49 | — | 49 | 224 | — | 224 | ||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 147,712 | 26,681 | 174,393 | 220,397 | 73,954 | 294,351 | ||||||||||||||||||||||||||||||||||||||||||
Noncommercial | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 23,343 | 3,663 | 27,006 | 28,777 | 5,828 | 34,605 | ||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 3,095 | — | 3,095 | 48 | — | 48 | ||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 651 | 457 | 1,108 | 1,657 | — | 1,657 | ||||||||||||||||||||||||||||||||||||||||||
Consumer and other | 1,154 | — | 1,154 | 2,509 | — | 2,509 | ||||||||||||||||||||||||||||||||||||||||||
Total noncommercial loans | 28,243 | 4,120 | 32,363 | 32,991 | 5,828 | 38,819 | ||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 175,955 | $ | 30,801 | $ | 206,756 | $ | 253,388 | $ | 79,782 | $ | 333,170 | ||||||||||||||||||||||||||||||||||||
Total troubled debt restructurings at December 31, 2013, equaled $206.8 million, of which $102.3 million were acquired and $104.4 million were originated. TDRs at December 31, 2012, totaled $333.2 million, which consisted of $193.2 million acquired and $140.0 million that were originated. | ||||||||||||||||||||||||||||||||||||||||||||||||
The majority of TDRs are included in the special mention, substandard or doubtful grading categories, which results in more elevated loss expectations when determining the expected cash flows that are used to determine the allowance for loan losses associated with these loans. When a restructured loan subsequently defaults, it is evaluated and downgraded if appropriate. The more severely graded the loan, the lower the estimated expected cash flows and the greater the allowance recorded. Further, TDRs over $500,000 and graded substandard or lower are evaluated individually for impairment through a review of collateral values. | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables provide the types of TDRs made during the three months ended December 31, 2013, and 2012, as well as a summary of loans that were modified as a TDR during the 12 months ended December 31, 2013, and 2012 that subsequently defaulted during the three months ended December 31, 2013, and 2012. BancShares defines payment default as movement of the TDR to nonaccrual status, foreclosure or charge-off, whichever occurs first. | ||||||||||||||||||||||||||||||||||||||||||||||||
. | ||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended December 31, 2013 | Three months ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
All restructurings | Restructurings with payment default | All restructurings | Restructurings with payment default | |||||||||||||||||||||||||||||||||||||||||||||
Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest only period provided | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 1 | $ | 305 | 1 | $ | — | 1 | $ | 861 | 1 | $ | 595 | ||||||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | 198 | — | — | 2 | 337 | 1 | 746 | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | — | — | 1 | 559 | ||||||||||||||||||||||||||||||||||||||||
Construction and land development-noncommercial | — | — | — | — | 1 | 476 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total interest only | 2 | 503 | 1 | — | 4 | 1,674 | 3 | 1,900 | ||||||||||||||||||||||||||||||||||||||||
Loan term extension | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 1 | 770 | — | — | 7 | 2,319 | 3 | 122 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | — | — | — | — | 1 | 24 | 1 | 24 | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 3 | 241 | — | — | 1 | 16 | 1 | 108 | ||||||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | 1 | 8 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total loan term extension | 4 | 1,011 | — | — | 10 | 2,367 | 5 | 254 | ||||||||||||||||||||||||||||||||||||||||
Below market interest rate | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 8 | 3,964 | 1 | 295 | 8 | 3,444 | 1 | 490 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | — | — | — | — | 3 | 311 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 6 | 347 | — | — | 2 | 130 | 1 | 59 | ||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 6 | 496 | 2 | 378 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | 2 | 16 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total below market interest rate | 20 | 4,807 | 3 | 673 | 15 | 3,901 | 2 | 549 | ||||||||||||||||||||||||||||||||||||||||
Discharged from bankruptcy | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1 | 32 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | — | — | 3 | 130 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Total discharged from bankruptcy | 1 | 32 | 3 | 130 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Total originated restructurings | 27 | $ | 6,353 | 7 | $ | 803 | 29 | $ | 7,942 | 10 | $ | 2,703 | ||||||||||||||||||||||||||||||||||||
Three months ended December 31, 2013 | Three months ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
All restructurings | Restructurings with payment default | All restructurings | Restructurings with payment default | |||||||||||||||||||||||||||||||||||||||||||||
Number of loans | Recorded investment at period end | Number of loans | Recorded investment at period end | Number of loans | Recorded investment at period end | Number of loans | Recorded investment at period end | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Acquired loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest only period provided | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 2 | $ | 403 | — | $ | — | — | $ | — | — | $ | — | ||||||||||||||||||||||||||||||||||||
Other commercial real estate | — | — | — | — | 1 | 2,994 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total interest only | 2 | 403 | — | — | 1 | 2,994 | — | — | ||||||||||||||||||||||||||||||||||||||||
Loan term extension | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | 1 | 100 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | — | — | 1 | 157 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | — | — | 1 | 66 | ||||||||||||||||||||||||||||||||||||||||
Total loan term extension | 1 | 100 | 1 | 157 | — | — | 1 | 66 | ||||||||||||||||||||||||||||||||||||||||
Below market interest rate | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | — | — | — | — | 3 | 17,615 | 3 | 7,050 | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 1 | 165 | 2 | 2,183 | 4 | 2,715 | 1 | 1,229 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | — | — | — | — | 1 | 253 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1 | 100 | — | — | 3 | 2,542 | 3 | 122 | ||||||||||||||||||||||||||||||||||||||||
Total below market interest rate | 2 | 265 | 2 | 2,183 | 11 | 23,125 | 7 | 8,401 | ||||||||||||||||||||||||||||||||||||||||
Other concession | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | — | — | 1 | 54 | ||||||||||||||||||||||||||||||||||||||||
Total other concession | — | — | — | — | — | — | 1 | 54 | ||||||||||||||||||||||||||||||||||||||||
Total restructurings | 5 | $ | 768 | 3 | $ | 2,340 | 12 | $ | 26,119 | 9 | $ | 8,521 | ||||||||||||||||||||||||||||||||||||
For the three months ended December 31, 2013, the recorded investment in troubled debt restructurings subsequent to modification was not materially impacted by the modification since forgiveness of principal is not a restructuring option frequently used by BancShares. | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables provide the types of TDRs made during the twelve months ended December 31, 2013, and 2012, as well as a summary of loans that were modified as a TDR during the 12 months ended December 31, 2013, and 2012 that subsequently defaulted during the | ||||||||||||||||||||||||||||||||||||||||||||||||
twelve months ended December 31, 2013, and 2012. BancShares defines payment default as movement of the TDR to nonaccrual status, foreclosure or charge-off, whichever occurs first. | ||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
All restructurings | Restructurings with payment default | All restructurings | Restructurings with payment default | |||||||||||||||||||||||||||||||||||||||||||||
Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest only period provided | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | — | $ | — | — | $ | — | 2 | $ | 316 | — | $ | — | ||||||||||||||||||||||||||||||||||||
Commercial mortgage | 6 | 1,520 | 1 | — | 12 | 3,891 | 3 | 1,440 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 2 | 397 | — | — | 2 | 574 | — | — | ||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 1 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1 | 630 | — | — | 2 | 893 | 2 | 893 | ||||||||||||||||||||||||||||||||||||||||
Total interest only | 10 | 2,547 | 1 | — | 18 | 5,674 | 5 | 2,333 | ||||||||||||||||||||||||||||||||||||||||
Loan term extension | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | — | — | — | — | 2 | 7,667 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 9 | 3,270 | — | — | 50 | 16,818 | 13 | 3,456 | ||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | — | — | — | — | 3 | 1,318 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | 47 | — | — | 11 | 1,363 | 4 | 169 | ||||||||||||||||||||||||||||||||||||||||
Lease financing | — | — | — | — | 3 | 166 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 11 | 539 | — | — | 9 | 521 | 2 | 155 | ||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | — | — | — | — | 1 | 158 | — | — | ||||||||||||||||||||||||||||||||||||||||
Consumer | 2 | 62 | — | — | 7 | 1,132 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total loan term extension | 23 | 3,918 | — | — | 86 | 29,143 | 19 | 3,780 | ||||||||||||||||||||||||||||||||||||||||
Below market interest rate | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | 3 | 609 | — | — | 1 | 227 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 28 | 10,873 | 1 | 295 | 12 | 7,333 | 1 | 490 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 3 | 851 | — | — | 11 | 1,584 | 1 | — | ||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 2 | 378 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 21 | 1,235 | — | — | 13 | 1,887 | 5 | 828 | ||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 13 | 801 | 3 | 451 | 1 | 48 | 1 | 48 | ||||||||||||||||||||||||||||||||||||||||
Construction & land development - noncommercial | 4 | 269 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Consumer | 3 | 219 | — | — | 4 | 17 | 1 | — | ||||||||||||||||||||||||||||||||||||||||
Total below market interest rate | 77 | 15,235 | 4 | 746 | 42 | 11,096 | 9 | 1,366 | ||||||||||||||||||||||||||||||||||||||||
Discharged from bankruptcy | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 7 | 510 | 2 | 60 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 31 | 2,577 | 6 | 274 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Total discharged from bankruptcy | 38 | 3,087 | 8 | 334 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Other concession | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | — | — | — | — | 3 | 1,036 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | 1 | 384 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total other concession | — | — | — | — | 4 | 1,420 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total originated restructurings | 148 | $ | 24,787 | 13 | $ | 1,080 | 150 | $ | 47,333 | 33 | $ | 7,479 | ||||||||||||||||||||||||||||||||||||
Year ended December 31, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
All restructurings | Restructurings with payment default | All restructurings | Restructurings with payment default | |||||||||||||||||||||||||||||||||||||||||||||
Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Acquired loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest only period provided | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | 1 | $ | 2,590 | 1 | $ | 2,590 | 2 | $ | 496 | 1 | $ | 356 | ||||||||||||||||||||||||||||||||||||
Commercial mortgage | 5 | 2,880 | 1 | 299 | 4 | 10,404 | 1 | 234 | ||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | — | — | — | — | 1 | 2,994 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | 21 | — | — | 1 | 170 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1 | 39 | — | — | 1 | 98 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total interest only | 8 | 5,530 | 2 | 2,889 | 9 | 14,162 | 2 | 590 | ||||||||||||||||||||||||||||||||||||||||
Loan term extension | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | 6 | 2,247 | — | — | 9 | 7,294 | 1 | 3,703 | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 1 | 157 | 1 | 157 | 4 | 2,584 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 2 | 1,080 | — | — | 2 | 158 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 3 | 5,153 | 2 | 5,120 | 4 | 5,111 | 2 | 4,629 | ||||||||||||||||||||||||||||||||||||||||
Total loan term extension | 12 | 8,637 | 3 | 5,277 | 19 | 15,147 | 3 | 8,332 | ||||||||||||||||||||||||||||||||||||||||
Below market interest rate | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | 2 | 106 | — | — | 13 | 19,953 | 5 | 8,781 | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 12 | 7,513 | 4 | 2,418 | 18 | 19,100 | 6 | 3,906 | ||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | — | — | — | — | 2 | 1,954 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 2 | 493 | — | — | 5 | 1,299 | 2 | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 10 | 2,088 | 5 | 1,475 | 21 | 4,622 | 10 | 490 | ||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | — | — | — | — | 1 | — | 1 | — | ||||||||||||||||||||||||||||||||||||||||
Total below market interest rate | 26 | 10,200 | 9 | 3,893 | 60 | 46,928 | 24 | 13,177 | ||||||||||||||||||||||||||||||||||||||||
Other concession | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 1 | 110 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | 1 | 54 | 1 | 54 | ||||||||||||||||||||||||||||||||||||||||
Total other concession | 1 | 110 | — | — | 1 | 54 | 1 | 54 | ||||||||||||||||||||||||||||||||||||||||
Total acquired restructurings | 47 | $ | 24,477 | 14 | $ | 12,059 | 89 | $ | 76,291 | 30 | $ | 22,153 | ||||||||||||||||||||||||||||||||||||
The following tables provide information on originated impaired loans and leases, exclusive of loans and leases evaluated collectively as a homogeneous group, including interest income recognized in the period during which the loans and leases were considered impaired. | ||||||||||||||||||||||||||||||||||||||||||||||||
With a | With no | Total | Unpaid | Related | ||||||||||||||||||||||||||||||||||||||||||||
recorded | recorded | principal | allowance | |||||||||||||||||||||||||||||||||||||||||||||
allowance | allowance | balance | recorded | |||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Impaired originated loans and leases | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 1,025 | $ | 1,247 | $ | 2,272 | $ | 7,306 | $ | 103 | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 57,819 | 39,292 | 97,111 | 103,522 | 6,873 | |||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 783 | 1,095 | 1,878 | 2,279 | 209 | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 7,197 | 2,103 | 9,300 | 10,393 | 771 | |||||||||||||||||||||||||||||||||||||||||||
Lease financing | 133 | 55 | 188 | 188 | 54 | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 11,534 | 4,005 | 15,539 | 15,939 | 1,586 | |||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 3,382 | 214 | 3,596 | 3,596 | 372 | |||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 651 | 457 | 1,108 | 1,108 | 72 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,154 | — | 1,154 | 1,154 | 121 | |||||||||||||||||||||||||||||||||||||||||||
Total impaired originated loans and leases | $ | 83,678 | $ | 48,468 | $ | 132,146 | $ | 145,485 | $ | 10,161 | ||||||||||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Impaired originated loans and leases | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 5,941 | $ | 11,134 | $ | 17,075 | $ | 32,898 | $ | 2,469 | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 39,648 | 94,156 | 133,804 | 136,743 | 11,697 | |||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 1,425 | 1,950 | 3,375 | 3,475 | 298 | |||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 7,429 | 15,190 | 22,619 | 22,619 | 2,133 | |||||||||||||||||||||||||||||||||||||||||||
Lease financing | 665 | 139 | 804 | 804 | 202 | |||||||||||||||||||||||||||||||||||||||||||
Other | — | 707 | 707 | 707 | 53 | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 9,346 | 6,490 | 15,836 | 16,229 | 959 | |||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 1,238 | 2,965 | 4,203 | 4,203 | 1 | |||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 1,162 | 159 | 1,321 | 1,321 | 287 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,609 | 900 | 2,509 | 2,509 | 256 | |||||||||||||||||||||||||||||||||||||||||||
Nonspecific | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Total impaired originated loans and leases | $ | 68,463 | $ | 133,790 | $ | 202,253 | $ | 221,508 | $ | 18,355 | ||||||||||||||||||||||||||||||||||||||
YTD | YTD Interest Income Recognized | |||||||||||||||||||||||||||||||||||||||||||||||
Average | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance | ||||||||||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated impaired loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 6,414 | $ | 270 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 105,628 | 5,702 | ||||||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 2,658 | 144 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 12,772 | 642 | ||||||||||||||||||||||||||||||||||||||||||||||
Lease financing | 350 | 22 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 15,470 | 444 | ||||||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 5,653 | 485 | ||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 958 | 55 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,427 | 53 | ||||||||||||||||||||||||||||||||||||||||||||||
Total originated impaired loans and leases | $ | 151,330 | $ | 7,817 | ||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated impaired loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 22,493 | $ | 399 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 96,082 | 4,630 | ||||||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 2,690 | 142 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 13,658 | 788 | ||||||||||||||||||||||||||||||||||||||||||||||
Lease financing | 497 | 37 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | 424 | 23 | ||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 14,951 | 586 | ||||||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 2,931 | 68 | ||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 2,850 | 41 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,850 | 21 | ||||||||||||||||||||||||||||||||||||||||||||||
Total originated impaired loans and leases | $ | 158,426 | $ | 6,735 | ||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated impaired loans and leases: | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | $ | 26,612 | $ | 56 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 65,729 | 1,330 | ||||||||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 1,368 | 55 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 12,984 | 456 | ||||||||||||||||||||||||||||||||||||||||||||||
Lease financing | 587 | 21 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | 38 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 9,252 | 300 | ||||||||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | 2,022 | 105 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 636 | 18 | ||||||||||||||||||||||||||||||||||||||||||||||
Total originated impaired loans and leases | $ | 119,228 | $ | 2,341 | ||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables | ' | |||||||||||||||||||||||||||||||||||||||||||||||
The following tables provide the types of TDRs made during the three months ended December 31, 2013, and 2012, as well as a summary of loans that were modified as a TDR during the 12 months ended December 31, 2013, and 2012 that subsequently defaulted during the three months ended December 31, 2013, and 2012. BancShares defines payment default as movement of the TDR to nonaccrual status, foreclosure or charge-off, whichever occurs first. | ||||||||||||||||||||||||||||||||||||||||||||||||
. | ||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended December 31, 2013 | Three months ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
All restructurings | Restructurings with payment default | All restructurings | Restructurings with payment default | |||||||||||||||||||||||||||||||||||||||||||||
Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest only period provided | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 1 | $ | 305 | 1 | $ | — | 1 | $ | 861 | 1 | $ | 595 | ||||||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | 198 | — | — | 2 | 337 | 1 | 746 | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | — | — | 1 | 559 | ||||||||||||||||||||||||||||||||||||||||
Construction and land development-noncommercial | — | — | — | — | 1 | 476 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total interest only | 2 | 503 | 1 | — | 4 | 1,674 | 3 | 1,900 | ||||||||||||||||||||||||||||||||||||||||
Loan term extension | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 1 | 770 | — | — | 7 | 2,319 | 3 | 122 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | — | — | — | — | 1 | 24 | 1 | 24 | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 3 | 241 | — | — | 1 | 16 | 1 | 108 | ||||||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | 1 | 8 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total loan term extension | 4 | 1,011 | — | — | 10 | 2,367 | 5 | 254 | ||||||||||||||||||||||||||||||||||||||||
Below market interest rate | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 8 | 3,964 | 1 | 295 | 8 | 3,444 | 1 | 490 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | — | — | — | — | 3 | 311 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 6 | 347 | — | — | 2 | 130 | 1 | 59 | ||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 6 | 496 | 2 | 378 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | 2 | 16 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total below market interest rate | 20 | 4,807 | 3 | 673 | 15 | 3,901 | 2 | 549 | ||||||||||||||||||||||||||||||||||||||||
Discharged from bankruptcy | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1 | 32 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | — | — | 3 | 130 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Total discharged from bankruptcy | 1 | 32 | 3 | 130 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Total originated restructurings | 27 | $ | 6,353 | 7 | $ | 803 | 29 | $ | 7,942 | 10 | $ | 2,703 | ||||||||||||||||||||||||||||||||||||
Three months ended December 31, 2013 | Three months ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
All restructurings | Restructurings with payment default | All restructurings | Restructurings with payment default | |||||||||||||||||||||||||||||||||||||||||||||
Number of loans | Recorded investment at period end | Number of loans | Recorded investment at period end | Number of loans | Recorded investment at period end | Number of loans | Recorded investment at period end | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Acquired loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest only period provided | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 2 | $ | 403 | — | $ | — | — | $ | — | — | $ | — | ||||||||||||||||||||||||||||||||||||
Other commercial real estate | — | — | — | — | 1 | 2,994 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total interest only | 2 | 403 | — | — | 1 | 2,994 | — | — | ||||||||||||||||||||||||||||||||||||||||
Loan term extension | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | 1 | 100 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | — | — | 1 | 157 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | — | — | 1 | 66 | ||||||||||||||||||||||||||||||||||||||||
Total loan term extension | 1 | 100 | 1 | 157 | — | — | 1 | 66 | ||||||||||||||||||||||||||||||||||||||||
Below market interest rate | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | — | — | — | — | 3 | 17,615 | 3 | 7,050 | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 1 | 165 | 2 | 2,183 | 4 | 2,715 | 1 | 1,229 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | — | — | — | — | 1 | 253 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1 | 100 | — | — | 3 | 2,542 | 3 | 122 | ||||||||||||||||||||||||||||||||||||||||
Total below market interest rate | 2 | 265 | 2 | 2,183 | 11 | 23,125 | 7 | 8,401 | ||||||||||||||||||||||||||||||||||||||||
Other concession | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | — | — | 1 | 54 | ||||||||||||||||||||||||||||||||||||||||
Total other concession | — | — | — | — | — | — | 1 | 54 | ||||||||||||||||||||||||||||||||||||||||
Total restructurings | 5 | $ | 768 | 3 | $ | 2,340 | 12 | $ | 26,119 | 9 | $ | 8,521 | ||||||||||||||||||||||||||||||||||||
For the three months ended December 31, 2013, the recorded investment in troubled debt restructurings subsequent to modification was not materially impacted by the modification since forgiveness of principal is not a restructuring option frequently used by BancShares. | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables provide the types of TDRs made during the twelve months ended December 31, 2013, and 2012, as well as a summary of loans that were modified as a TDR during the 12 months ended December 31, 2013, and 2012 that subsequently defaulted during the | ||||||||||||||||||||||||||||||||||||||||||||||||
twelve months ended December 31, 2013, and 2012. BancShares defines payment default as movement of the TDR to nonaccrual status, foreclosure or charge-off, whichever occurs first. | ||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
All restructurings | Restructurings with payment default | All restructurings | Restructurings with payment default | |||||||||||||||||||||||||||||||||||||||||||||
Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Originated loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest only period provided | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | — | $ | — | — | $ | — | 2 | $ | 316 | — | $ | — | ||||||||||||||||||||||||||||||||||||
Commercial mortgage | 6 | 1,520 | 1 | — | 12 | 3,891 | 3 | 1,440 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 2 | 397 | — | — | 2 | 574 | — | — | ||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 1 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1 | 630 | — | — | 2 | 893 | 2 | 893 | ||||||||||||||||||||||||||||||||||||||||
Total interest only | 10 | 2,547 | 1 | — | 18 | 5,674 | 5 | 2,333 | ||||||||||||||||||||||||||||||||||||||||
Loan term extension | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | — | — | — | — | 2 | 7,667 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 9 | 3,270 | — | — | 50 | 16,818 | 13 | 3,456 | ||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | — | — | — | — | 3 | 1,318 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | 47 | — | — | 11 | 1,363 | 4 | 169 | ||||||||||||||||||||||||||||||||||||||||
Lease financing | — | — | — | — | 3 | 166 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 11 | 539 | — | — | 9 | 521 | 2 | 155 | ||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | — | — | — | — | 1 | 158 | — | — | ||||||||||||||||||||||||||||||||||||||||
Consumer | 2 | 62 | — | — | 7 | 1,132 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total loan term extension | 23 | 3,918 | — | — | 86 | 29,143 | 19 | 3,780 | ||||||||||||||||||||||||||||||||||||||||
Below market interest rate | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | 3 | 609 | — | — | 1 | 227 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 28 | 10,873 | 1 | 295 | 12 | 7,333 | 1 | 490 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 3 | 851 | — | — | 11 | 1,584 | 1 | — | ||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | 2 | 378 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 21 | 1,235 | — | — | 13 | 1,887 | 5 | 828 | ||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 13 | 801 | 3 | 451 | 1 | 48 | 1 | 48 | ||||||||||||||||||||||||||||||||||||||||
Construction & land development - noncommercial | 4 | 269 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Consumer | 3 | 219 | — | — | 4 | 17 | 1 | — | ||||||||||||||||||||||||||||||||||||||||
Total below market interest rate | 77 | 15,235 | 4 | 746 | 42 | 11,096 | 9 | 1,366 | ||||||||||||||||||||||||||||||||||||||||
Discharged from bankruptcy | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 7 | 510 | 2 | 60 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Revolving mortgage | 31 | 2,577 | 6 | 274 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Total discharged from bankruptcy | 38 | 3,087 | 8 | 334 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Other concession | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | — | — | — | — | 3 | 1,036 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | 1 | 384 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total other concession | — | — | — | — | 4 | 1,420 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total originated restructurings | 148 | $ | 24,787 | 13 | $ | 1,080 | 150 | $ | 47,333 | 33 | $ | 7,479 | ||||||||||||||||||||||||||||||||||||
Year ended December 31, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
All restructurings | Restructurings with payment default | All restructurings | Restructurings with payment default | |||||||||||||||||||||||||||||||||||||||||||||
Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | Number of Loans | Recorded investment at period end | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||
Acquired loans | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest only period provided | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | 1 | $ | 2,590 | 1 | $ | 2,590 | 2 | $ | 496 | 1 | $ | 356 | ||||||||||||||||||||||||||||||||||||
Commercial mortgage | 5 | 2,880 | 1 | 299 | 4 | 10,404 | 1 | 234 | ||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | — | — | — | — | 1 | 2,994 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | 21 | — | — | 1 | 170 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1 | 39 | — | — | 1 | 98 | — | — | ||||||||||||||||||||||||||||||||||||||||
Total interest only | 8 | 5,530 | 2 | 2,889 | 9 | 14,162 | 2 | 590 | ||||||||||||||||||||||||||||||||||||||||
Loan term extension | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | 6 | 2,247 | — | — | 9 | 7,294 | 1 | 3,703 | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 1 | 157 | 1 | 157 | 4 | 2,584 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 2 | 1,080 | — | — | 2 | 158 | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 3 | 5,153 | 2 | 5,120 | 4 | 5,111 | 2 | 4,629 | ||||||||||||||||||||||||||||||||||||||||
Total loan term extension | 12 | 8,637 | 3 | 5,277 | 19 | 15,147 | 3 | 8,332 | ||||||||||||||||||||||||||||||||||||||||
Below market interest rate | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land development - commercial | 2 | 106 | — | — | 13 | 19,953 | 5 | 8,781 | ||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 12 | 7,513 | 4 | 2,418 | 18 | 19,100 | 6 | 3,906 | ||||||||||||||||||||||||||||||||||||||||
Other commercial real estate | — | — | — | — | 2 | 1,954 | — | — | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 2 | 493 | — | — | 5 | 1,299 | 2 | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 10 | 2,088 | 5 | 1,475 | 21 | 4,622 | 10 | 490 | ||||||||||||||||||||||||||||||||||||||||
Construction and land development - noncommercial | — | — | — | — | 1 | — | 1 | — | ||||||||||||||||||||||||||||||||||||||||
Total below market interest rate | 26 | 10,200 | 9 | 3,893 | 60 | 46,928 | 24 | 13,177 | ||||||||||||||||||||||||||||||||||||||||
Other concession | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 1 | 110 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | 1 | 54 | 1 | 54 | ||||||||||||||||||||||||||||||||||||||||
Total other concession | 1 | 110 | — | — | 1 | 54 | 1 | 54 | ||||||||||||||||||||||||||||||||||||||||
Total acquired restructurings | 47 | $ | 24,477 | 14 | $ | 12,059 | 89 | $ | 76,291 | 30 | $ | 22,153 | ||||||||||||||||||||||||||||||||||||
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
Major classifications of premises and equipment at December 31, 2013, and 2012, are summarized as follows: | ||||||||
2013 | 2012 | |||||||
(dollars in thousands) | ||||||||
Land | $ | 204,259 | $ | 202,168 | ||||
Premises and leasehold improvements | 875,511 | 840,149 | ||||||
Furniture and equipment | 394,348 | 390,345 | ||||||
Total | 1,474,118 | 1,432,662 | ||||||
Less accumulated depreciation and amortization | 597,596 | 549,894 | ||||||
Total premises and equipment | $ | 876,522 | $ | 882,768 | ||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | |||||||
Future minimum rental commitments for noncancellable operating leases with initial or remaining terms of one or more years consisted of the following at December 31, 2013: | ||||||||
Year ended December 31 | ||||||||
(dollars in thousands) | ||||||||
2014 | $ | 17,181 | ||||||
2015 | 13,004 | |||||||
2016 | 8,539 | |||||||
2017 | 5,969 | |||||||
2018 | 4,574 | |||||||
Thereafter | 41,554 | |||||||
Total minimum payments | $ | 90,821 | ||||||
Other_Real_Estate_Owned_Tables
Other Real Estate Owned (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Banking and Thrift [Abstract] | ' | |||||||||||
Changes in other real estate owned | ' | |||||||||||
The following table explains changes in other real estate owned during 2013 and 2012. | ||||||||||||
Covered | Noncovered | Total | ||||||||||
(dollars in thousands) | ||||||||||||
Balance at January 1, 2012 | $ | 148,599 | $ | 50,399 | $ | 198,998 | ||||||
Additions | 105,059 | 35,586 | 140,645 | |||||||||
Sales | (124,435 | ) | (33,564 | ) | (157,999 | ) | ||||||
Writedowns | (26,646 | ) | (8,908 | ) | (35,554 | ) | ||||||
Balance at December 31, 2012 | 102,577 | 43,513 | 146,090 | |||||||||
Additions | 59,034 | 33,908 | 92,942 | |||||||||
Sales | (96,744 | ) | (36,168 | ) | (132,912 | ) | ||||||
Writedowns | (17,786 | ) | (4,355 | ) | (22,141 | ) | ||||||
Balance at December 31, 2013 | $ | 47,081 | $ | 36,898 | $ | 83,979 | ||||||
Receivable_from_FDIC_for_Loss_1
Receivable from FDIC for Loss Share Agreements (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Receivable From FDIC For Loss Share Agreements [Abstract] | ' | |||||||||||
Changes in Receivable From FDIC | ' | |||||||||||
The following table presents the changes in the receivable for loss share agreements: | ||||||||||||
Year ended December 31 | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(dollars in thousands) | ||||||||||||
Balance at January 1 | $ | 270,192 | $ | 617,377 | $ | 671,023 | ||||||
Additional receivable from acquisitions | — | — | 316,932 | |||||||||
Amortization of discounts and premiums, net | (85,651 | ) | (102,394 | ) | (32,960 | ) | ||||||
Cash payments from FDIC | (19,373 | ) | (251,972 | ) | (293,067 | ) | ||||||
Post-acquisition and other adjustments, net | (71,771 | ) | 7,181 | (44,551 | ) | |||||||
Balance at December 31 | $ | 93,397 | $ | 270,192 | $ | 617,377 | ||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Deposits [Abstract] | ' | |||||||
Deposits | ' | |||||||
Deposits at December 31 are summarized as follows: | ||||||||
2013 | 2012 | |||||||
(dollars in thousands) | ||||||||
Demand | $ | 5,241,817 | $ | 4,885,700 | ||||
Checking With Interest | 2,445,972 | 2,363,317 | ||||||
Money market accounts | 6,306,942 | 6,357,309 | ||||||
Savings | 1,004,097 | 905,456 | ||||||
Time | 2,875,238 | 3,574,243 | ||||||
Total deposits | $ | 17,874,066 | $ | 18,086,025 | ||||
Maturities Of Time Deposits | ' | |||||||
At December 31, 2013, the scheduled maturities of time deposits were: | ||||||||
Year | Scheduled maturities | |||||||
(dollars in thousands) | ||||||||
2014 | $ | 1,920,998 | ||||||
2015 | 532,711 | |||||||
2016 | 296,073 | |||||||
2017 | 87,179 | |||||||
2018 | 38,277 | |||||||
Thereafter | — | |||||||
Total time deposits | $ | 2,875,238 | ||||||
ShortTerm_Borrowings_Tables
Short-Term Borrowings (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Short-term Debt [Abstract] | ' | |||||||
Schedule of Short-term Debt | ' | |||||||
Short-term borrowings at December 31 are as follows: | ||||||||
2013 | 2012 | |||||||
(dollars in thousands) | ||||||||
Master notes | $ | 411,907 | $ | 399,047 | ||||
Repurchase agreements | 96,960 | 111,907 | ||||||
Notes payable to Federal Home Loan Banks | — | 55,000 | ||||||
Federal funds purchased | 2,551 | 2,551 | ||||||
Total short-term borrowings | $ | 511,418 | $ | 568,505 | ||||
LongTerm_Obligations_Tables
Long-Term Obligations (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
LONG-TERM OBLIGATIONS [Abstract] | ' | |||||||
Schedule of Long-term Debt Instruments | ' | |||||||
Long-term obligations at December 31 include: | ||||||||
2013 | 2012 | |||||||
(dollars in thousands) | ||||||||
Junior subordinated debenture at 3-month LIBOR plus 1.75 percent maturing June 30, 2036 | 96,392 | 96,392 | ||||||
Subordinated notes payable at 5.125 percent maturing June 1, 2015 | 125,000 | 125,000 | ||||||
Obligations under capitalized leases extending to June 2026 | 6,515 | 10,020 | ||||||
Notes payable to Federal Home Loan Bank of Atlanta with rates ranging from 2.00 percent to 3.88 percent and maturing through September 2021 | 240,283 | 170,299 | ||||||
Note payable to the Federal Home Loan Bank of Seattle with a rate of 4.74 percent and a maturity date of July 2017 | 10,000 | 10,000 | ||||||
Unamortized acquisition accounting adjustments | 2,449 | 3,069 | ||||||
Other long-term debt | 30,130 | 30,141 | ||||||
Total long-term obligations | $ | 510,769 | $ | 444,921 | ||||
Schedule of Maturities of Long-term Debt | ' | |||||||
Long-term obligations maturing in each of the five years subsequent to December 31, 2013, include: | ||||||||
Year | Scheduled maturities | |||||||
(dollars in thousands) | ||||||||
2014 | $ | 2,908 | ||||||
2015 | 205,422 | |||||||
2016 | — | |||||||
2017 | 11,005 | |||||||
2018 | 121,444 | |||||||
Thereafter | 169,990 | |||||||
Total long-term obligations | $ | 510,769 | ||||||
Estimated_Fair_Values_Tables
Estimated Fair Values (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Estimated Fair Values For Certain Financial Assets And Financial Liabilities | ' | |||||||||||||||
For all other financial assets and financial liabilities, the carrying value is a reasonable estimate of the fair value as of December 31, 2013, and December 31, 2012. The carrying value and fair value for these assets and liabilities are equivalent because they are relatively short term in nature and there is no interest rate or credit risk relating to them that would cause the fair value to differ from the carrying value. | ||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||
Carrying value | Fair value | Carrying value | Fair value | |||||||||||||
(dollars in thousands) | ||||||||||||||||
Cash and due from banks | $ | 533,599 | $ | 533,599 | $ | 639,730 | $ | 639,730 | ||||||||
Overnight investments | 859,324 | 859,324 | 443,180 | 443,180 | ||||||||||||
Investment securities available for sale | 5,387,703 | 5,387,703 | 5,226,228 | 5,226,228 | ||||||||||||
Investment securities held to maturity | 907 | 974 | 1,342 | 1,448 | ||||||||||||
Loans held for sale | 47,271 | 47,956 | 86,333 | 87,654 | ||||||||||||
Acquired loans, net of allowance for loan and lease losses | 975,906 | 956,388 | 1,669,263 | 1,635,878 | ||||||||||||
Originated loans, net of allowance for loan and lease losses | 11,924,424 | 11,589,149 | 11,397,069 | 11,238,597 | ||||||||||||
Receivable from the FDIC for loss share agreements (1) | 93,397 | 38,438 | 270,192 | 100,161 | ||||||||||||
Income earned not collected | 48,390 | 48,390 | 47,666 | 47,666 | ||||||||||||
Stock issued by: | ||||||||||||||||
Federal Home Loan Bank of Atlanta | 30,813 | 30,813 | 36,139 | 36,139 | ||||||||||||
Federal Home Loan Bank of San Francisco | 5,756 | 5,756 | 10,107 | 10,107 | ||||||||||||
Federal Home Loan Bank of Seattle | 4,250 | 4,250 | 4,410 | 4,410 | ||||||||||||
Preferred stock | 33,564 | 34,786 | 40,768 | 40,793 | ||||||||||||
Deposits | 17,874,066 | 17,898,570 | 18,086,025 | 18,126,893 | ||||||||||||
Short-term borrowings | 511,418 | 511,418 | 568,505 | 568,505 | ||||||||||||
Long-term obligations | 510,769 | 526,037 | 444,921 | 472,642 | ||||||||||||
Payable to the FDIC for loss share agreements | 109,378 | 111,941 | 101,641 | 111,679 | ||||||||||||
Accrued interest payable | 6,737 | 6,737 | 9,353 | 9,353 | ||||||||||||
Interest rate swap | 7,220 | 7,220 | 10,398 | 10,398 | ||||||||||||
(1) The fair value of the FDIC receivable excludes receivable related to accretable yield to be amortized in prospective periods. | ||||||||||||||||
Assets And Liabilities Carried At Fair Value On A Recurring Basis | ' | |||||||||||||||
For assets and liabilities carried at fair value on a recurring basis, the following table provides fair value information as of December 31, 2013, and December 31, 2012. | ||||||||||||||||
Fair value measurements using: | ||||||||||||||||
Fair value | Level 1 | Level 2 | Level 3 | |||||||||||||
(dollars in thousands) | ||||||||||||||||
December 31, 2013 | ||||||||||||||||
Assets measured at fair value | ||||||||||||||||
Investment securities available for sale | ||||||||||||||||
U.S. Treasury | $ | 373,437 | $ | — | $ | 373,437 | $ | — | ||||||||
Government agency | 2,544,229 | — | 2,544,229 | — | ||||||||||||
Mortgage-backed securities | 2,446,873 | — | 2,446,873 | — | ||||||||||||
Equity securities | 22,147 | — | 22,147 | — | ||||||||||||
State, county, municipal | 187 | — | 187 | — | ||||||||||||
Other | 830 | — | 830 | — | ||||||||||||
Total | $ | 5,387,703 | $ | — | $ | 5,387,703 | $ | — | ||||||||
Liabilities measured at fair value | ||||||||||||||||
Interest rate swaps accounted for as cash flow hedges | $ | 7,220 | $ | — | $ | 7,220 | $ | — | ||||||||
December 31, 2012 | ||||||||||||||||
Assets measured at fair value | ||||||||||||||||
Investment securities available for sale | ||||||||||||||||
U.S. Treasury | $ | 823,632 | $ | — | $ | 823,632 | $ | — | ||||||||
Government agency | 3,055,204 | — | 3,055,204 | — | ||||||||||||
Mortgage-backed securities | 1,329,657 | — | 1,329,657 | — | ||||||||||||
Equity securities | 16,365 | — | 16,365 | — | ||||||||||||
State, county, municipal | 550 | — | 550 | — | ||||||||||||
Other | 820 | — | 820 | — | ||||||||||||
Total | $ | 5,226,228 | $ | — | $ | 5,226,228 | $ | — | ||||||||
Liabilities measured at fair value | ||||||||||||||||
Interest rate swaps accounted for as cash flow hedges | $ | 10,398 | $ | — | $ | 10,398 | $ | — | ||||||||
Assets And Liabilities Carried At Fair Value On A Nonrecurring Basis | ' | |||||||||||||||
For financial assets and liabilities carried at fair value on a nonrecurring basis, the following table provides fair value information as of December 31, 2013, and December 31, 2012. | ||||||||||||||||
Fair value measurements using: | ||||||||||||||||
Fair value | Level 1 | Level 2 | Level 3 | |||||||||||||
(dollars in thousands) | ||||||||||||||||
December 31, 2013 | ||||||||||||||||
Loans held for sale | $ | 29,389 | $ | — | $ | 29,389 | $ | — | ||||||||
Originated impaired loans | 73,517 | — | — | 73,517 | ||||||||||||
Other real estate not covered under loss share agreements remeasured during current year | 20,526 | — | — | 20,526 | ||||||||||||
Other real estate covered under loss share agreements remeasured during current year | 37,587 | — | — | 37,587 | ||||||||||||
December 31, 2012 | ||||||||||||||||
Loans held for sale | 65,244 | — | 65,244 | — | ||||||||||||
Originated impaired loans | 51,644 | — | — | 51,644 | ||||||||||||
Other real estate not covered under loss share agreements remeasured during current year | 21,113 | — | — | 21,113 | ||||||||||||
Other real estate covered under loss share agreements remeasured during current year | 59,545 | — | — | 61,026 | ||||||||||||
Schedule of Fair Value Measurements Of Other Real Estate Opportunities | ' | |||||||||||||||
OREO is measured and reported at fair value using level 3 inputs for valuations based on unobservable criteria. The values of OREO are determined by collateral valuations. Collateral values are determined using appraisals or other third-party value estimates of the subject property with discounts generally between 10 and 14 percent applied for estimated holding and selling costs and other external factors that may impact the marketability of the property. Changes to the value of the assets between scheduled valuation dates are monitored through continued communication with brokers and monthly reviews by the asset manager assigned to each asset. The asset manager uses the information gathered from brokers and other market sources to identify any significant changes in the market or the subject property as they occur. Valuations are then adjusted or new appraisals are ordered to ensure the reported values reflect the most current information. | ||||||||||||||||
No financial liabilities were carried at fair value on a nonrecurring basis as of December 31, 2013, and December 31, 2012. |
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | |||||||||||||||||||||||
Schedule of Net Funded Status | ' | |||||||||||||||||||||||
The following table provides the changes in benefit obligation and plan assets and the funded status of the plan at December 31, 2013, and 2012. | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Change in benefit obligation | ||||||||||||||||||||||||
Benefit obligation at January 1 | $ | 580,938 | $ | 493,648 | ||||||||||||||||||||
Service cost | 16,332 | 14,241 | ||||||||||||||||||||||
Interest cost | 23,686 | 23,711 | ||||||||||||||||||||||
Actuarial (gain) loss | (74,060 | ) | 64,540 | |||||||||||||||||||||
Benefits paid | (16,218 | ) | (15,202 | ) | ||||||||||||||||||||
Benefit obligation at December 31 | 530,678 | 580,938 | ||||||||||||||||||||||
Change in plan assets | ||||||||||||||||||||||||
Fair value of plan assets at January 1 | 463,005 | 429,505 | ||||||||||||||||||||||
Actual return on plan assets | 77,230 | 48,702 | ||||||||||||||||||||||
Employer contributions | — | — | ||||||||||||||||||||||
Benefits paid | (16,218 | ) | (15,202 | ) | ||||||||||||||||||||
Fair value of plan assets at December 31 | 524,017 | 463,005 | ||||||||||||||||||||||
Funded status at December 31 | $ | (6,661 | ) | $ | (117,933 | ) | ||||||||||||||||||
Schedule of Amounts Recognized in the Balance Sheets | ' | |||||||||||||||||||||||
The amounts recognized in the consolidated balance sheets as of December 31, 2013, and 2012, consist of: | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Other assets | $ | — | $ | — | ||||||||||||||||||||
Other liabilities | (6,661 | ) | (117,933 | ) | ||||||||||||||||||||
Net asset (liability) recognized | $ | (6,661 | ) | $ | (117,933 | ) | ||||||||||||||||||
Schedule of Amount Included in Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||||||||||||||
The following table details the amounts recognized in accumulated other comprehensive income at December 31, 2013, and 2012: | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Net loss (gain) | $ | 16,605 | $ | 157,147 | ||||||||||||||||||||
Less prior service cost | 977 | 1,187 | ||||||||||||||||||||||
Accumulated other comprehensive loss, excluding income taxes | $ | 17,582 | $ | 158,334 | ||||||||||||||||||||
Accumulated other comprehensive income (loss) included the following as of December 31, 2013, and December 31, 2012: | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Accumulated | Deferred | Accumulated | Accumulated | Deferred | Accumulated | |||||||||||||||||||
other | tax | other | other | tax | other | |||||||||||||||||||
comprehensive | benefit | comprehensive | comprehensive | expense | comprehensive | |||||||||||||||||||
loss | loss, | income (loss) | (benefit) | income (loss), | ||||||||||||||||||||
net of tax | net of tax | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Unrealized (losses) gains on investment securities available for sale | $ | (16,632 | ) | $ | (6,541 | ) | $ | (10,091 | ) | $ | 33,809 | $ | 13,292 | $ | 20,517 | |||||||||
Unrealized loss on cash flow hedge | (7,220 | ) | (2,786 | ) | (4,434 | ) | (10,398 | ) | (4,106 | ) | (6,292 | ) | ||||||||||||
Funded status of defined benefit plan | (17,582 | ) | (6,839 | ) | (10,743 | ) | (158,334 | ) | (62,003 | ) | (96,331 | ) | ||||||||||||
Total | $ | (41,434 | ) | $ | (16,166 | ) | $ | (25,268 | ) | $ | (134,923 | ) | $ | (52,817 | ) | $ | (82,106 | ) | ||||||
The following table highlights changes in accumulated other comprehensive income (loss) by component for the years ended December 31, 2013, and 2012: | ||||||||||||||||||||||||
Unrealized gains and losses on available-for-sale securities1 | Gains and losses on cash flow hedges1 | Defined benefit pension items1 | Total | |||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Balance at January 1, 2012 | $ | 16,115 | $ | (6,483 | ) | $ | (76,206 | ) | $ | (66,574 | ) | |||||||||||||
Other comprehensive income (loss) before reclassifications | 5,807 | (1,682 | ) | (26,961 | ) | (22,836 | ) | |||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (1,405 | ) | 1,873 | 6,836 | 7,304 | |||||||||||||||||||
Net current period other comprehensive income (loss) | 4,402 | 191 | (20,125 | ) | (15,532 | ) | ||||||||||||||||||
Balance at December 31, 2012 | 20,517 | (6,292 | ) | (96,331 | ) | (82,106 | ) | |||||||||||||||||
Other comprehensive income (loss) before reclassifications | (30,608 | ) | (60 | ) | 75,082 | 44,414 | ||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | — | 1,918 | 10,506 | 12,424 | ||||||||||||||||||||
Net current period other comprehensive income (loss) | (30,608 | ) | 1,858 | 85,588 | 56,838 | |||||||||||||||||||
Balance at December 31, 2013 | $ | (10,091 | ) | $ | (4,434 | ) | $ | (10,743 | ) | $ | (25,268 | ) | ||||||||||||
1 All amounts are net of tax. Amounts in parentheses indicate debits. | ||||||||||||||||||||||||
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year | ' | |||||||||||||||||||||||
The following table provides expected amortization amounts for 2014. | ||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Actuarial loss | $ | 6,184 | ||||||||||||||||||||||
Prior service cost | 210 | |||||||||||||||||||||||
Total | $ | 6,394 | ||||||||||||||||||||||
Schedule of Net Benefit Costs | ' | |||||||||||||||||||||||
The following table shows the components of periodic benefit cost related to the pension plan and changes in plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31, 2013, 2012, and 2011. | ||||||||||||||||||||||||
Year ended December 31 | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Service cost | $ | 16,332 | $ | 14,241 | $ | 13,265 | ||||||||||||||||||
Interest cost | 23,686 | 23,711 | 23,810 | |||||||||||||||||||||
Expected return on assets | (27,733 | ) | (28,478 | ) | (29,184 | ) | ||||||||||||||||||
Amortization of prior service cost | 210 | 210 | 210 | |||||||||||||||||||||
Amortization of net actuarial loss | 16,985 | 11,026 | 6,861 | |||||||||||||||||||||
Total net periodic benefit cost | 29,480 | 20,710 | 14,962 | |||||||||||||||||||||
Current year actuarial (loss) gain | (123,557 | ) | 44,315 | 58,630 | ||||||||||||||||||||
Amortization of actuarial loss | (16,985 | ) | (11,026 | ) | (6,861 | ) | ||||||||||||||||||
Amortization of prior service cost | (210 | ) | (210 | ) | (210 | ) | ||||||||||||||||||
Total recognized in other comprehensive income | (140,752 | ) | 33,079 | 51,559 | ||||||||||||||||||||
Total recognized in net periodic benefit cost and other comprehensive income | $ | (111,272 | ) | $ | 53,789 | $ | 66,521 | |||||||||||||||||
Schedule of Assumptions Used | ' | |||||||||||||||||||||||
The assumptions used to determine the benefit obligations as of December 31, 2013, and 2012, are as follows: | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Discount rate | 4.9 | % | 4 | % | ||||||||||||||||||||
Rate of compensation increase | 4 | 4 | ||||||||||||||||||||||
The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2013, 2012, and 2011, are as follows: | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Discount rate | 4 | % | 4.75 | % | 5.5 | % | ||||||||||||||||||
Rate of compensation increase | 4 | 4 | 4.5 | |||||||||||||||||||||
Expected long-term return on plan assets | 7.25 | 7.5 | 7.75 | |||||||||||||||||||||
Schedule of Fair Value and Allocation of Plan Assets | ' | |||||||||||||||||||||||
The fair values of pension plan assets at December 31, 2013, and 2012, by asset class are as follows: | ||||||||||||||||||||||||
Asset Class | Market Value | Quoted prices in | Significant | Significant | Target Allocation | Actual % | ||||||||||||||||||
Active Markets | Observable | Nonobservable | of Plan | |||||||||||||||||||||
for Identical | Inputs | Inputs | Assets | |||||||||||||||||||||
Assets (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Cash and equivalents | $ | 2,517 | $ | 2,517 | $ | — | $ | — | 0 - 1% | 1 | % | |||||||||||||
Equity securities | 55 - 65% | 62 | % | |||||||||||||||||||||
Large cap | 218,023 | 218,023 | — | — | ||||||||||||||||||||
Mid cap | 10,724 | 10,724 | — | — | ||||||||||||||||||||
Small cap | 43,928 | 43,928 | — | — | ||||||||||||||||||||
International equity (developed) | 10,535 | 10,535 | — | — | ||||||||||||||||||||
International equity (emerging) | 40,643 | 40,643 | — | — | ||||||||||||||||||||
Fixed income | — | — | 25-40% | 28 | % | |||||||||||||||||||
Investment grade bonds | 74,501 | — | 74,501 | — | ||||||||||||||||||||
Intermediate bonds | 48,746 | — | 48,746 | — | ||||||||||||||||||||
High-yield corporate bonds | 10,111 | — | 10,111 | — | ||||||||||||||||||||
TIPS | 4,395 | 4,395 | — | — | ||||||||||||||||||||
International emerging bond | 10,119 | — | 10,119 | — | ||||||||||||||||||||
Alternative investments | 0-10% | 10 | % | |||||||||||||||||||||
Commodities | 19,014 | 19,014 | — | — | ||||||||||||||||||||
Hedge fund composite | 30,761 | 30,761 | — | |||||||||||||||||||||
Total pension assets | $ | 524,017 | $ | 380,540 | $ | 143,477 | $ | — | 100 | % | ||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||
Cash and equivalents | $ | 3,088 | $ | 3,088 | — | — | 0 - 1% | 1 | % | |||||||||||||||
Equity securities | 55 - 65% | 56 | % | |||||||||||||||||||||
Large cap | 172,512 | 172,512 | — | — | ||||||||||||||||||||
Mid cap | 21,451 | 21,451 | — | — | ||||||||||||||||||||
Small cap | 31,053 | 31,053 | — | — | ||||||||||||||||||||
International equity (developed) | 9,537 | 9,537 | — | — | ||||||||||||||||||||
International equity (emerging) | 24,276 | 24,276 | — | — | ||||||||||||||||||||
Fixed income | 36-44% | 36 | % | |||||||||||||||||||||
Investment grade bonds | 71,986 | — | 71,986 | — | ||||||||||||||||||||
Intermediate bonds | 59,052 | — | 59,052 | — | ||||||||||||||||||||
High-yield corporate bonds | 18,487 | — | 18,487 | — | ||||||||||||||||||||
TIPS | 7,613 | 7,613 | — | — | ||||||||||||||||||||
International emerging bond | 9,348 | — | 9,348 | — | ||||||||||||||||||||
Alternative investments | — | — | — | 0-8% | 8 | % | ||||||||||||||||||
Commodities | 17,376 | 17,376 | — | — | ||||||||||||||||||||
Hedge fund composite | 17,226 | 17,226 | — | |||||||||||||||||||||
Total pension assets | $ | 463,005 | $ | 304,132 | $ | 158,873 | $ | — | 100 | % | ||||||||||||||
Schedule of Expected Benefit Payments | ' | |||||||||||||||||||||||
BancShares anticipates making no contributions to the pension plan during 2014. Following are estimated payments to pension plan participants in the indicated periods: | ||||||||||||||||||||||||
Year | Projected benefit payments | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
2014 | $ | 18,070 | ||||||||||||||||||||||
2015 | 19,662 | |||||||||||||||||||||||
2016 | 21,484 | |||||||||||||||||||||||
2017 | 23,244 | |||||||||||||||||||||||
2018 | 24,937 | |||||||||||||||||||||||
2019-2023 | 150,638 | |||||||||||||||||||||||
Deferred Benefit Plans Liability Rollforward | ' | |||||||||||||||||||||||
The following table provides the accrued liability as of December 31, 2013, and 2012, and the changes in the accrued liability during the years then ended: | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Present value of accrued liability as of January 1 | $ | 25,851 | $ | 25,586 | ||||||||||||||||||||
Benefit expense | 959 | 462 | ||||||||||||||||||||||
Benefits paid | (3,042 | ) | (3,241 | ) | ||||||||||||||||||||
Benefits forfeited | — | 554 | ||||||||||||||||||||||
Interest cost | 192 | 2,490 | ||||||||||||||||||||||
Present value of accrued liability as of December 31 | $ | 23,960 | $ | 25,851 | ||||||||||||||||||||
Discount rate at December 31 | 4.9 | % | 4 | % |
Other_Noninterest_Income_and_O1
Other Noninterest Income and Other Noninterest Expense (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Noninterest Expense [Abstract] | ' | |||||||||||
Schedule of Other Operating Cost and Expense, by Component | ' | |||||||||||
Other noninterest expense for the years ended December 31, 2013, 2012, and 2011, included the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(dollars in thousands) | ||||||||||||
Cardholder processing | $ | 9,892 | $ | 11,816 | $ | 11,418 | ||||||
Merchant processing | 35,279 | 33,313 | 37,196 | |||||||||
Collection | 21,209 | 25,591 | 23,237 | |||||||||
Processing fees paid to third parties | 15,095 | 14,454 | 16,336 | |||||||||
Cardholder reward programs | 10,154 | 4,325 | 11,780 | |||||||||
Telecommunications | 10,033 | 11,131 | 12,131 | |||||||||
Consultant | 9,740 | 3,915 | 3,021 | |||||||||
Advertising | 8,286 | 3,897 | 7,957 | |||||||||
Other | 73,700 | 71,369 | 81,860 | |||||||||
Total other noninterest expense | $ | 193,388 | $ | 179,811 | $ | 204,936 | ||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Schedule of Components of Income Tax Expense (Benefit) | ' | |||||||||||
At December 31, income tax expense consisted of the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(dollars in thousands) | ||||||||||||
Current tax expense | ||||||||||||
Federal | $ | 41,996 | $ | 85,875 | $ | 108,639 | ||||||
State | 7,080 | 9,212 | 23,101 | |||||||||
Total current tax expense | 49,076 | 95,087 | 131,740 | |||||||||
Deferred tax expense (benefit) | ||||||||||||
Federal | 38,974 | (27,344 | ) | (12,127 | ) | |||||||
State | 8,915 | (7,921 | ) | (4,510 | ) | |||||||
Total deferred tax expense (benefit) | 47,889 | (35,265 | ) | (16,637 | ) | |||||||
Total income tax expense | $ | 96,965 | $ | 59,822 | $ | 115,103 | ||||||
Schedule of Effective Income Tax Rate Reconciliation | ' | |||||||||||
Income tax expense differed from the amounts computed by applying the federal income tax rate of 35 percent to pretax income as a result of the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(dollars in thousands) | ||||||||||||
Income taxes at statutory rates | $ | 92,633 | $ | 67,959 | $ | 108,546 | ||||||
Increase (reduction) in income taxes resulting from: | ||||||||||||
Nontaxable income on loans, leases and investments, net of nondeductible expenses | (1,185 | ) | (1,309 | ) | (1,481 | ) | ||||||
State and local income taxes, including change in valuation allowance, net of federal income tax benefit | 10,397 | 839 | 12,084 | |||||||||
Tax credits | (5,569 | ) | (7,279 | ) | (5,166 | ) | ||||||
Other, net | 689 | (388 | ) | 1,120 | ||||||||
Total income tax expense | $ | 96,965 | $ | 59,822 | $ | 115,103 | ||||||
Schedule of Deferred Tax Assets and Liabilities | ' | |||||||||||
The net deferred tax asset included the following components at December 31: | ||||||||||||
2013 | 2012 | |||||||||||
(dollars in thousands) | ||||||||||||
Allowance for loan and lease losses | $ | 90,790 | $ | 124,928 | ||||||||
Pension liability | 2,593 | 46,178 | ||||||||||
Executive separation from service agreements | 9,940 | 10,123 | ||||||||||
State operating loss carryforward | 79 | 652 | ||||||||||
Unrealized loss on cash flow hedge | 2,786 | 4,106 | ||||||||||
Net unrealized loss on securities included in accumulated other comprehensive loss | 6,541 | — | ||||||||||
Other | 17,884 | 19,465 | ||||||||||
Deferred tax asset | 130,613 | 205,452 | ||||||||||
Accelerated depreciation | 6,226 | 12,465 | ||||||||||
Lease financing activities | 10,216 | 10,366 | ||||||||||
Net unrealized gains on securities included in accumulated other comprehensive loss | — | 13,292 | ||||||||||
Net deferred loan fees and costs | 4,115 | 3,714 | ||||||||||
Intangible asset | 11,929 | 11,897 | ||||||||||
Gain on FDIC-assisted transactions, deferred for tax purposes | 57,895 | 29,694 | ||||||||||
Other | 6,352 | 5,373 | ||||||||||
Deferred tax liability | 96,733 | 86,801 | ||||||||||
Net deferred tax asset | $ | 33,880 | $ | 118,651 | ||||||||
Transactions_with_Related_Pers1
Transactions with Related Persons (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Related Party Transactions [Abstract] | ' | |||
Schedule of Related Party Transactions | ' | |||
For those identified as Related Persons as of December 31, 2013, the following table provides an analysis of changes in the loans outstanding during 2013: | ||||
(dollars in thousands) | ||||
Balance at January 1, 2013 | $ | 1,311 | ||
New loans | 605 | |||
Repayments | (91 | ) | ||
Balance at December 31, 2013 | $ | 1,825 | ||
Derivatives_Tables
Derivatives (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||
Schedule Of Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||||||||||||||
The following table details the amounts recognized in accumulated other comprehensive income at December 31, 2013, and 2012: | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Net loss (gain) | $ | 16,605 | $ | 157,147 | ||||||||||||||||||||
Less prior service cost | 977 | 1,187 | ||||||||||||||||||||||
Accumulated other comprehensive loss, excluding income taxes | $ | 17,582 | $ | 158,334 | ||||||||||||||||||||
Accumulated other comprehensive income (loss) included the following as of December 31, 2013, and December 31, 2012: | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Accumulated | Deferred | Accumulated | Accumulated | Deferred | Accumulated | |||||||||||||||||||
other | tax | other | other | tax | other | |||||||||||||||||||
comprehensive | benefit | comprehensive | comprehensive | expense | comprehensive | |||||||||||||||||||
loss | loss, | income (loss) | (benefit) | income (loss), | ||||||||||||||||||||
net of tax | net of tax | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Unrealized (losses) gains on investment securities available for sale | $ | (16,632 | ) | $ | (6,541 | ) | $ | (10,091 | ) | $ | 33,809 | $ | 13,292 | $ | 20,517 | |||||||||
Unrealized loss on cash flow hedge | (7,220 | ) | (2,786 | ) | (4,434 | ) | (10,398 | ) | (4,106 | ) | (6,292 | ) | ||||||||||||
Funded status of defined benefit plan | (17,582 | ) | (6,839 | ) | (10,743 | ) | (158,334 | ) | (62,003 | ) | (96,331 | ) | ||||||||||||
Total | $ | (41,434 | ) | $ | (16,166 | ) | $ | (25,268 | ) | $ | (134,923 | ) | $ | (52,817 | ) | $ | (82,106 | ) | ||||||
The following table highlights changes in accumulated other comprehensive income (loss) by component for the years ended December 31, 2013, and 2012: | ||||||||||||||||||||||||
Unrealized gains and losses on available-for-sale securities1 | Gains and losses on cash flow hedges1 | Defined benefit pension items1 | Total | |||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Balance at January 1, 2012 | $ | 16,115 | $ | (6,483 | ) | $ | (76,206 | ) | $ | (66,574 | ) | |||||||||||||
Other comprehensive income (loss) before reclassifications | 5,807 | (1,682 | ) | (26,961 | ) | (22,836 | ) | |||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (1,405 | ) | 1,873 | 6,836 | 7,304 | |||||||||||||||||||
Net current period other comprehensive income (loss) | 4,402 | 191 | (20,125 | ) | (15,532 | ) | ||||||||||||||||||
Balance at December 31, 2012 | 20,517 | (6,292 | ) | (96,331 | ) | (82,106 | ) | |||||||||||||||||
Other comprehensive income (loss) before reclassifications | (30,608 | ) | (60 | ) | 75,082 | 44,414 | ||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | — | 1,918 | 10,506 | 12,424 | ||||||||||||||||||||
Net current period other comprehensive income (loss) | (30,608 | ) | 1,858 | 85,588 | 56,838 | |||||||||||||||||||
Balance at December 31, 2013 | $ | (10,091 | ) | $ | (4,434 | ) | $ | (10,743 | ) | $ | (25,268 | ) | ||||||||||||
1 All amounts are net of tax. Amounts in parentheses indicate debits. | ||||||||||||||||||||||||
Interest Rate Swap | ' | |||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||
Schedule Of Interest Rate Swaps | ' | |||||||||||||||||||||||
The following table provides the notional amount of the interest rate swap and the fair value of the liability as of December 31, 2013, and 2012. | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Notional | Estimated fair value of liability | Notional | Estimated fair value of liability | |||||||||||||||||||||
amount | amount | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
2011 interest rate swap hedging variable rate exposure on trust preferred securities 2011-2016 | $ | 93,500 | $ | 7,220 | $ | 93,500 | $ | 10,398 | ||||||||||||||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||
Schedule of Finite-Lived Intangible Assets by Major Class | ' | |||||||
The following information relates to other intangible assets, all of which are being amortized over their estimated useful lives: | ||||||||
2013 | 2012 | |||||||
(dollars in thousands) | ||||||||
Balance at January 1 | $ | 3,556 | $ | 7,032 | ||||
Amortization | (2,309 | ) | (3,476 | ) | ||||
Balance at December 31 | $ | 1,247 | $ | 3,556 | ||||
Intangible assets generated by FDIC-assisted transactions, which represent the estimated fair value of core deposits and other customer relationships that were acquired, are being amortized over a four-year life on an accelerated basis. The gross amount of other intangible assets and accumulated amortization as of December 31, 2013, and 2012, are: | ||||||||
2013 | 2012 | |||||||
(dollars in thousands) | ||||||||
Gross balance | $ | 18,966 | $ | 18,966 | ||||
Accumulated amortization | (17,719 | ) | (15,410 | ) | ||||
Carrying value | $ | 1,247 | $ | 3,556 | ||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | ' | |||||||
Based on current estimated useful lives and carrying values, BancShares anticipates amortization expense for intangible assets in subsequent periods will be: | ||||||||
Year | Amortization expense | |||||||
(dollars in thousands) | ||||||||
2014 | $ | 1,122 | ||||||
2015 | 125 | |||||||
$ | 1,247 | |||||||
Shareholders_Equity_Dividends_1
Shareholders' Equity, Dividends Restrictions and Other Regulatory Matters (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Regulatory Capital Requirements [Abstract] | ' | |||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements | ' | |||||||||||||||||||
Following is an analysis of capital ratios for BancShares and FCB as of December 31, 2013, and 2012: | ||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||
Amount | Ratio | Requirements to be well-capitalized | Amount | Ratio | Requirements to be well-capitalized | |||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
BancShares | ||||||||||||||||||||
Tier 1 capital | $ | 2,109,139 | 14.92 | % | 6 | % | $ | 1,949,985 | 14.27 | % | 6 | % | ||||||||
Total capital | 2,320,792 | 16.42 | % | 10 | % | 2,179,370 | 15.95 | % | 10 | % | ||||||||||
Leverage capital | 2,109,139 | 9.82 | % | 5 | % | 1,949,985 | 9.23 | % | 5 | % | ||||||||||
FCB | ||||||||||||||||||||
Tier 1 capital | 1,983,349 | 14.14 | % | 6 | % | 1,942,101 | 14.37 | % | 6 | % | ||||||||||
Total capital | 2,184,461 | 15.57 | % | 10 | % | 2,163,034 | 16 | % | 10 | % | ||||||||||
Leverage capital | 1,983,349 | 9.36 | % | 5 | % | 1,942,101 | 9.34 | % | 5 | % | ||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||||||||||||
Schedule Of Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||||||||||||||
The following table details the amounts recognized in accumulated other comprehensive income at December 31, 2013, and 2012: | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Net loss (gain) | $ | 16,605 | $ | 157,147 | ||||||||||||||||||||
Less prior service cost | 977 | 1,187 | ||||||||||||||||||||||
Accumulated other comprehensive loss, excluding income taxes | $ | 17,582 | $ | 158,334 | ||||||||||||||||||||
Accumulated other comprehensive income (loss) included the following as of December 31, 2013, and December 31, 2012: | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Accumulated | Deferred | Accumulated | Accumulated | Deferred | Accumulated | |||||||||||||||||||
other | tax | other | other | tax | other | |||||||||||||||||||
comprehensive | benefit | comprehensive | comprehensive | expense | comprehensive | |||||||||||||||||||
loss | loss, | income (loss) | (benefit) | income (loss), | ||||||||||||||||||||
net of tax | net of tax | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Unrealized (losses) gains on investment securities available for sale | $ | (16,632 | ) | $ | (6,541 | ) | $ | (10,091 | ) | $ | 33,809 | $ | 13,292 | $ | 20,517 | |||||||||
Unrealized loss on cash flow hedge | (7,220 | ) | (2,786 | ) | (4,434 | ) | (10,398 | ) | (4,106 | ) | (6,292 | ) | ||||||||||||
Funded status of defined benefit plan | (17,582 | ) | (6,839 | ) | (10,743 | ) | (158,334 | ) | (62,003 | ) | (96,331 | ) | ||||||||||||
Total | $ | (41,434 | ) | $ | (16,166 | ) | $ | (25,268 | ) | $ | (134,923 | ) | $ | (52,817 | ) | $ | (82,106 | ) | ||||||
The following table highlights changes in accumulated other comprehensive income (loss) by component for the years ended December 31, 2013, and 2012: | ||||||||||||||||||||||||
Unrealized gains and losses on available-for-sale securities1 | Gains and losses on cash flow hedges1 | Defined benefit pension items1 | Total | |||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Balance at January 1, 2012 | $ | 16,115 | $ | (6,483 | ) | $ | (76,206 | ) | $ | (66,574 | ) | |||||||||||||
Other comprehensive income (loss) before reclassifications | 5,807 | (1,682 | ) | (26,961 | ) | (22,836 | ) | |||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (1,405 | ) | 1,873 | 6,836 | 7,304 | |||||||||||||||||||
Net current period other comprehensive income (loss) | 4,402 | 191 | (20,125 | ) | (15,532 | ) | ||||||||||||||||||
Balance at December 31, 2012 | 20,517 | (6,292 | ) | (96,331 | ) | (82,106 | ) | |||||||||||||||||
Other comprehensive income (loss) before reclassifications | (30,608 | ) | (60 | ) | 75,082 | 44,414 | ||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | — | 1,918 | 10,506 | 12,424 | ||||||||||||||||||||
Net current period other comprehensive income (loss) | (30,608 | ) | 1,858 | 85,588 | 56,838 | |||||||||||||||||||
Balance at December 31, 2013 | $ | (10,091 | ) | $ | (4,434 | ) | $ | (10,743 | ) | $ | (25,268 | ) | ||||||||||||
1 All amounts are net of tax. Amounts in parentheses indicate debits. | ||||||||||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income | ' | |||||||||||||||||||||||
Details about accumulated other comprehensive loss | Amount reclassified from accumulated other comprehensive loss1 | Affected line item in the statement where net income is presented | ||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||||||
Unrealized gains and losses on available for sale securities | ||||||||||||||||||||||||
$ | — | Securities gains (losses) | ||||||||||||||||||||||
— | Income taxes | |||||||||||||||||||||||
$ | — | Net income | ||||||||||||||||||||||
Gains and losses on cash flow hedges | ||||||||||||||||||||||||
Interest rate swap contracts | $ | (3,281 | ) | Long-term obligations | ||||||||||||||||||||
1,363 | Income taxes | |||||||||||||||||||||||
$ | (1,918 | ) | Net income | |||||||||||||||||||||
Amortization of defined benefit pension items | ||||||||||||||||||||||||
Prior service costs | $ | (210 | ) | Employee benefits | ||||||||||||||||||||
Actuarial losses | (16,985 | ) | Employee benefits | |||||||||||||||||||||
(17,195 | ) | Income before income taxes | ||||||||||||||||||||||
6,689 | Income taxes | |||||||||||||||||||||||
$ | (10,506 | ) | Net income | |||||||||||||||||||||
Total reclassifications for the period | $ | (12,424 | ) | |||||||||||||||||||||
Year ended December 31, 2012 | ||||||||||||||||||||||||
Unrealized gains and losses on available for sale securities | ||||||||||||||||||||||||
$ | 2,322 | Securities gains (losses) | ||||||||||||||||||||||
(917 | ) | Income taxes | ||||||||||||||||||||||
$ | 1,405 | Net income | ||||||||||||||||||||||
Gains and losses on cash flow hedges | ||||||||||||||||||||||||
Interest rate swap contracts | $ | (3,095 | ) | Long-term obligations | ||||||||||||||||||||
1,222 | Income taxes | |||||||||||||||||||||||
$ | (1,873 | ) | Net income | |||||||||||||||||||||
Amortization of defined benefit pension items | ||||||||||||||||||||||||
Prior service costs | $ | (210 | ) | Employee benefits | ||||||||||||||||||||
Actuarial losses | (11,026 | ) | Employee benefits | |||||||||||||||||||||
(11,236 | ) | Income before income taxes | ||||||||||||||||||||||
4,400 | Income taxes | |||||||||||||||||||||||
$ | (6,836 | ) | Net income | |||||||||||||||||||||
Total reclassifications for the period | $ | (7,304 | ) | |||||||||||||||||||||
1 Amounts in parentheses indicate debits to profit/loss. |
Subsequent_Events_Tables
Subsequent Events (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Subsequent Events [Abstract] | ' | |||||||||||
Schedule of assets acquired and liabilities assumed | ' | |||||||||||
The following table provides the carrying value of acquired assets and assumed liabilities, as recorded by 1st Financial, the fair value adjustments calculated at the time of the acquisition, and the resulting fair value recorded by FCB. | ||||||||||||
January 1, 2014 | ||||||||||||
As recorded by | Fair value adjustments | As recorded by FCB | ||||||||||
1st Financial | ||||||||||||
(dollars in thousands) | ||||||||||||
Assets | ||||||||||||
Cash and cash equivalents | $ | 28,194 | $ | — | $ | 28,194 | ||||||
Investment securities available for sale | 246,890 | (9,452 | ) | 237,438 | ||||||||
Loans held for sale | 1,183 | — | 1,183 | |||||||||
Restricted equity securities | 3,105 | 671 | 3,776 | |||||||||
Loans | 338,170 | (21,843 | ) | 316,327 | ||||||||
Less: allowance for loan losses | (7,796 | ) | 7,796 | — | ||||||||
Premises and equipment | 3,871 | (1,185 | ) | 2,686 | ||||||||
Other real estate owned | 12,896 | (1,305 | ) | 11,591 | ||||||||
Intangible asset | — | 3,780 | 3,780 | |||||||||
Other assets | 16,811 | (465 | ) | 16,346 | ||||||||
Total assets acquired | $ | 643,324 | $ | (22,003 | ) | $ | 621,321 | |||||
Liabilities | ||||||||||||
Deposits: | ||||||||||||
Noninterest-bearing | $ | 152,444 | $ | — | $ | 152,444 | ||||||
Interest-bearing | 477,881 | 1,546 | 479,427 | |||||||||
Total deposits | 630,325 | 1,546 | 631,871 | |||||||||
Federal Funds purchased | 406 | — | 406 | |||||||||
Other liabilities | 3,392 | 167 | 3,559 | |||||||||
Total liabilities assumed | 634,123 | 1,713 | 635,836 | |||||||||
Net assets acquired | $ | 9,201 | $ | (23,716 | ) | (14,515 | ) | |||||
Cash paid to shareholders | (2,000 | ) | ||||||||||
Cash paid to acquire TARP securities | (8,000 | ) | ||||||||||
Goodwill recorded for 1st Financial | $ | (24,515 | ) | |||||||||
Loans acquired, cash flows expected | ' | |||||||||||
The following table documents changes to the amount of accretable yield for 2013 and 2012. Removals represent a reduction to the accretable yield as a result of loans that were fully charged off or paid off during the period. | ||||||||||||
2013 | 2012 | |||||||||||
(dollars in thousands) | ||||||||||||
Balance at January 1 | $ | 539,564 | $ | 276,690 | ||||||||
Accretion | (224,672 | ) | (304,023 | ) | ||||||||
Reclassifications from nonaccretable difference | 92,349 | 353,708 | ||||||||||
Changes in expected cash flows that do not affect nonaccretable difference | 32,749 | 213,189 | ||||||||||
Balance at December 31 | $ | 439,990 | $ | 539,564 | ||||||||
For loans acquired from 1st Financial, the contractually required payments including principal and interest, cash flows expected to be collected and fair values as of the acquisition date were: | ||||||||||||
1-Jan-14 | ||||||||||||
(dollars in thousands) | ||||||||||||
Contractually required payments | $ | 413,937 | ||||||||||
Cash flows expected to be collected | 400,326 | |||||||||||
Fair value at acquisition date | 316,327 | |||||||||||
Fair value of loans acquired | ' | |||||||||||
The recorded fair values of loans acquired in the 1st Financial transaction as of the acquisition date were as follows: | ||||||||||||
1-Jan-14 | ||||||||||||
(dollars in thousands) | ||||||||||||
Commercial: | ||||||||||||
Construction and land development | $ | 41,516 | ||||||||||
Commercial mortgage | 123,925 | |||||||||||
Other commercial real estate | 6,698 | |||||||||||
Commercial and industrial | 29,126 | |||||||||||
Total commercial loans | 201,265 | |||||||||||
Noncommercial: | ||||||||||||
Residential mortgage | 113,177 | |||||||||||
Consumer | 1,885 | |||||||||||
Total noncommercial loans | 115,062 | |||||||||||
Total loans acquired from 1st Financial | $ | 316,327 | ||||||||||
Parent_Company_Financial_State1
Parent Company Financial Statements (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||
Condensed Balance Sheets | ' | |||||||||||
Parent Company | ||||||||||||
Condensed Balance Sheets | ||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||
(dollars in thousands) | ||||||||||||
Assets | ||||||||||||
Cash | $ | 13,047 | $ | 2,131 | ||||||||
Investment securities available for sale | 234,488 | 237,765 | ||||||||||
Investment in subsidiaries | 2,058,505 | 1,969,600 | ||||||||||
Due from subsidiaries | 145,666 | 78,512 | ||||||||||
Other assets | 144,998 | 83,283 | ||||||||||
Total assets | $ | 2,596,704 | $ | 2,371,291 | ||||||||
Liabilities and Shareholders' Equity | ||||||||||||
Short-term borrowings | $ | 411,907 | $ | 399,047 | ||||||||
Long-term obligations | 96,392 | 96,392 | ||||||||||
Other liabilities | 11,730 | 11,845 | ||||||||||
Shareholders' equity | 2,076,675 | 1,864,007 | ||||||||||
Total liabilities and shareholders' equity | $ | 2,596,704 | $ | 2,371,291 | ||||||||
Condensed Income Statements | ' | |||||||||||
Parent Company | ||||||||||||
Condensed Income Statements | ||||||||||||
Year ended December 31 | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(dollars in thousands) | ||||||||||||
Interest income | $ | 1,387 | $ | 1,353 | $ | 1,345 | ||||||
Interest expense | 7,065 | 15,435 | 21,512 | |||||||||
Net interest loss | (5,678 | ) | (14,082 | ) | (20,167 | ) | ||||||
Dividends from subsidiaries | 131,006 | 179,588 | 82,812 | |||||||||
Other income | 3,620 | 2,843 | 9,699 | |||||||||
Other operating expense | 2,344 | 6,384 | 5,298 | |||||||||
Income before income tax benefit and equity in undistributed net income of subsidiaries | 126,604 | 161,965 | 67,046 | |||||||||
Income tax benefit | (2,095 | ) | (8,417 | ) | (5,531 | ) | ||||||
Income before equity in undistributed net income of subsidiaries | 128,699 | 170,382 | 72,577 | |||||||||
(Excess distributions) equity in undistributed net income of subsidiaries | 39,000 | (36,034 | ) | 122,451 | ||||||||
Net income | $ | 167,699 | $ | 134,348 | $ | 195,028 | ||||||
Condensed Statements of Cash Flows | ' | |||||||||||
Parent Company | ||||||||||||
Condensed Statements of Cash Flows | ||||||||||||
Year ended December 31 | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(dollars in thousands) | ||||||||||||
OPERATING ACTIVITIES | ||||||||||||
Net income | $ | 167,699 | $ | 134,348 | $ | 195,028 | ||||||
Adjustments | ||||||||||||
Excess distributions (undistributed) net income of subsidiaries | (39,000 | ) | 36,034 | (122,451 | ) | |||||||
Net amortization of premiums and discounts | 334 | 439 | 203 | |||||||||
Gain on retirement of long term obligations | — | — | (9,685 | ) | ||||||||
Securities gains | — | (2,274 | ) | (62 | ) | |||||||
Gain on sale of other assets | (1,331 | ) | — | — | ||||||||
Other than temporary impairment on securities | — | 45 | 26 | |||||||||
Change in other assets | (61,704 | ) | 30,761 | (20,951 | ) | |||||||
Change in other liabilities | (2,096 | ) | (10,148 | ) | (1,925 | ) | ||||||
Net cash provided by operating activities | 63,902 | 189,205 | 40,183 | |||||||||
INVESTING ACTIVITIES | ||||||||||||
Net change in due from subsidiaries | (67,154 | ) | 42,323 | 146,463 | ||||||||
Purchases of investment securities | (126,197 | ) | (111,409 | ) | (220,387 | ) | ||||||
Proceeds from sales, calls, and maturities of securities | 135,000 | 112,625 | 75,151 | |||||||||
Investment in subsidiaries | 1,489 | 9,298 | — | |||||||||
Net cash (used) provided by investing activities | (56,862 | ) | 52,837 | 1,227 | ||||||||
FINANCING ACTIVITIES | ||||||||||||
Net change in short-term borrowings | 12,860 | 23,651 | 4,046 | |||||||||
Retirement of long-term obligations | — | (155,305 | ) | (11,815 | ) | |||||||
Repurchase of common stock | (321 | ) | (103,624 | ) | (24,387 | ) | ||||||
Cash dividends paid | (8,663 | ) | (15,398 | ) | (12,499 | ) | ||||||
Net cash provided (used) by financing activities | 3,876 | (250,676 | ) | (44,655 | ) | |||||||
Net change in cash | 10,916 | (8,634 | ) | (3,245 | ) | |||||||
Cash balance at beginning of year | 2,131 | 10,765 | 14,010 | |||||||||
Cash balance at end of year | $ | 13,047 | $ | 2,131 | $ | 10,765 | ||||||
Cash payments for | ||||||||||||
Interest | $ | 6,904 | $ | 25,574 | $ | 20,677 | ||||||
Income taxes | 102,890 | 66,453 | 91,465 | |||||||||
Accounting_Policies_and_Basis_2
Accounting Policies and Basis of Presentation Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Branches | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Maximum Period Of Fair Value Refinement After Transaction Closing Date | '1 year | ' |
Securities Sold under Agreements to Repurchase | $97,000,000 | $111,900,000 |
Number of Stores | 397 | ' |
Impaired Loans and Leases, Baseline for Meaurement | $500,000 | ' |
Class A Common Stock | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Votes per share of common stock | 1 | ' |
Class B Common Stock | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Votes per share of common stock | 16 | ' |
Building [Member] | Minimum | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Useful Life | '25 years | ' |
Building [Member] | Maximum | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Useful Life | '40 years | ' |
Furniture and Fixtures [Member] | Minimum | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Useful Life | '3 years | ' |
Furniture and Fixtures [Member] | Maximum | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Useful Life | '10 years | ' |
Investments_Aggregate_Values_a
Investments (Aggregate Values and Unrealized Gains and Losses) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Investments [Line Items] | ' | ' |
Investment securities, aggregate fair value, continuous unrealized losses of more than 12 months | $56,800,000 | ' |
Investment securities available for sale | ' | ' |
Cost | 5,404,335,000 | 5,192,419,000 |
Gross Unrealized Gains | 28,188,000 | 34,517,000 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 44,820,000 | 708,000 |
Fair Value | 5,387,703,000 | 5,226,228,000 |
Investment securities held to maturity | ' | ' |
Cost | 907,000 | 1,342,000 |
Investment securities, aggregate unrealized loss, continuous unrealized losses of more than 12 months | 1,100,000 | ' |
U. S. Treasury | ' | ' |
Investment securities available for sale | ' | ' |
Cost | 373,223,000 | 823,241,000 |
Gross Unrealized Gains | 259,000 | 403,000 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 45,000 | 12,000 |
Fair Value | 373,437,000 | 823,632,000 |
Government Agency | ' | ' |
Investment securities available for sale | ' | ' |
Cost | 2,543,223,000 | 3,052,040,000 |
Gross Unrealized Gains | 1,798,000 | 3,501,000 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 792,000 | 337,000 |
Fair Value | 2,544,229,000 | 3,055,204,000 |
Mortgage Backed Securities, Other [Member] | ' | ' |
Investment securities available for sale | ' | ' |
Cost | 2,486,297,000 | 1,315,211,000 |
Gross Unrealized Gains | 4,526,000 | 14,787,000 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 43,950,000 | 341,000 |
Fair Value | 2,446,873,000 | 1,329,657,000 |
Investment securities held to maturity | ' | ' |
Cost | 907,000 | 1,342,000 |
Held To Maturity Securities Accumulated Unrecognized Holding Gain | 67,000 | 133,000 |
Held To Maturity Securities Accumulated Unrecognized Holding Loss | 0 | 27,000 |
Fair Value | 974,000 | 1,448,000 |
Equity Securities | ' | ' |
Investment securities available for sale | ' | ' |
Cost | 543,000 | 543,000 |
Gross Unrealized Gains | 21,604,000 | 15,822,000 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 0 | 0 |
Fair Value | 22,147,000 | 16,365,000 |
State, County and Municipal | ' | ' |
Investment securities available for sale | ' | ' |
Cost | 186,000 | 546,000 |
Gross Unrealized Gains | 1,000 | 4,000 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 0 | 0 |
Fair Value | 187,000 | 550,000 |
Other Debt Obligations | ' | ' |
Investment securities available for sale | ' | ' |
Cost | 863,000 | 838,000 |
Gross Unrealized Gains | 0 | 0 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 33,000 | 18,000 |
Fair Value | $830,000 | $820,000 |
Investments_Maturity_Informati
Investments (Maturity Information) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investment securities available for sale | ' | ' |
Total investment securities available for sale, cost | $5,404,335 | $5,192,419 |
Investment securities available for sale | 5,387,703 | 5,226,228 |
Investment securities held to maturity | ' | ' |
Investment securities held to maturity | 907 | 1,342 |
Debt Securities | ' | ' |
Investment securities available for sale | ' | ' |
Maturing in one year or less, cost | 839,956 | 2,285,159 |
Maturing in one through five years, cost | 2,077,539 | 1,590,608 |
Maturing in five through ten years, cost | 0 | 898 |
Maturing in one year or less, fair value | 840,883 | 2,286,403 |
Maturing in one through five years, fair value | 2,077,800 | 1,592,923 |
Maturing in five through ten years, fair value | 0 | 880 |
Equity Securities | ' | ' |
Investment securities available for sale | ' | ' |
Total investment securities available for sale, cost | 543 | 543 |
Investment securities available for sale | 22,147 | 16,365 |
Mortgage Backed Securities, Other [Member] | ' | ' |
Investment securities available for sale | ' | ' |
Total investment securities available for sale, cost | 2,486,297 | 1,315,211 |
Investment securities available for sale | 2,446,873 | 1,329,657 |
Investment securities held to maturity | ' | ' |
Investment securities held to maturity | 907 | 1,342 |
Fair Value | $974 | $1,448 |
Investments_Securities_Gains_L
Investments (Securities Gains (Losses)) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Investments [Abstract] | ' | ' | ' |
Gross gains on sales of investment securities available for sale | $0 | $2,324 | $531 |
Gross losses on sales of investment securities available for sale | 0 | -2 | -793 |
Other than temporary impairment loss on equity securities | 0 | -45 | -26 |
Total securities gains (losses) | $0 | $2,277 | ($288) |
Investments_Unrealized_Losses_
Investments (Unrealized Losses) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investment securities available for sale: | ' | ' |
Less than 12 months, fair value | $3,104,700 | $664,243 |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 43,715 | 581 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 44,820 | 708 |
12 months or more, fair value | 56,830 | 9,433 |
Available For Sale Securities Continuous Unrealized Loss Position 12 Months Or Longer Aggregate Losses Acumulated In Investments | 1,105 | 127 |
Total fair value | 3,161,530 | 673,676 |
U. S. Treasury | ' | ' |
Investment securities available for sale: | ' | ' |
Less than 12 months, fair value | 102,105 | 120,045 |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 45 | 12 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 45 | 12 |
12 months or more, fair value | 0 | 0 |
Available For Sale Securities Continuous Unrealized Loss Position 12 Months Or Longer Aggregate Losses Acumulated In Investments | 0 | 0 |
Total fair value | 102,105 | 120,045 |
Government Agency | ' | ' |
Investment securities available for sale: | ' | ' |
Less than 12 months, fair value | 780,552 | 407,498 |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 761 | 337 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 792 | 337 |
12 months or more, fair value | 29,969 | 0 |
Available For Sale Securities Continuous Unrealized Loss Position 12 Months Or Longer Aggregate Losses Acumulated In Investments | 31 | 0 |
Total fair value | 810,521 | 407,498 |
Mortgage Backed Securities, Other [Member] | ' | ' |
Investment securities available for sale: | ' | ' |
Less than 12 months, fair value | 2,221,213 | 135,880 |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 42,876 | 214 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 43,950 | 341 |
12 months or more, fair value | 26,861 | 9,433 |
Available For Sale Securities Continuous Unrealized Loss Position 12 Months Or Longer Aggregate Losses Acumulated In Investments | 1,074 | 127 |
Total fair value | 2,248,074 | 145,313 |
Investment securities held to maturity: | ' | ' |
Less than 12 months, fair value | 0 | 0 |
Held-to-maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | 0 | 0 |
12 months or more, fair value | 0 | 17 |
Held-to-maturity Securities Continuous Unrealized Loss Position 12 Months Or Longer Accumulated Loss | 0 | 27 |
Total fair value | 0 | 17 |
Held To Maturity Securities Accumulated Unrecognized Holding Loss | 0 | 27 |
Other Debt Obligations | ' | ' |
Investment securities available for sale: | ' | ' |
Less than 12 months, fair value | 830 | 820 |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 33 | 18 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 33 | 18 |
12 months or more, fair value | 0 | 0 |
Available For Sale Securities Continuous Unrealized Loss Position 12 Months Or Longer Aggregate Losses Acumulated In Investments | 0 | 0 |
Total fair value | 830 | 820 |
State, County and Municipal | ' | ' |
Investment securities available for sale: | ' | ' |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | $0 | $0 |
Investments_Narrative_Details
Investments (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
investments | ||
Investments [Abstract] | ' | ' |
Investment securities, aggregate fair value, continuous unrealized losses of more than 12 months | $56,800,000 | ' |
Investment securities, aggregate unrealized loss, continuous unrealized losses of more than 12 months | 1,100,000 | ' |
Number of investments in continuous unrealized loss position for more than twelve months | 18 | ' |
Unrealized losses related to marketability of securities or issuers ability to honor redemption obligations | 0 | 0 |
Investment value deemed to be OTTI | 0 | ' |
Investment securities, aggregate carrying value, pledged as collateral | $2,750,000,000 | $2,350,000,000 |
Loans_and_Leases_Narrative_Det
Loans and Leases (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Noncovered loans pledged to secure debt obligations | $2,560,000,000 | $2,570,000,000 |
Charge off of past due business credit card loans (days) | '120 days | ' |
Ungraded | Business Credit Card Loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans to finance buyout, outstanding balance | 72,375,000 | ' |
Ungraded | Tobacco Buyout Loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans to finance buyout, outstanding balance | $22,060,000 | ' |
Loans_and_Leases_Loans_and_Lea
Loans and Leases (Loans and Leases Outstanding) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Acquired | $1,029,426 | $1,809,235 |
Originated | 12,104,298 | 11,576,115 |
Total loans and leases | 13,133,724 | 13,385,350 |
Commercial | ' | ' |
Acquired | 781,307 | 1,450,035 |
Originated | 8,499,348 | 7,994,495 |
Commercial | Construction and land development | ' | ' |
Acquired | 78,915 | 237,906 |
Originated | 319,847 | 309,190 |
Commercial | Mortgage | ' | ' |
Acquired | 642,891 | 1,054,473 |
Originated | 6,362,490 | 6,029,435 |
Commercial | Commercial and industrial | ' | ' |
Acquired | 17,254 | 49,463 |
Originated | 1,081,158 | 1,038,530 |
Commercial | Lease financing | ' | ' |
Originated | 381,763 | 330,679 |
Commercial | Other commercial real estate | ' | ' |
Acquired | 41,381 | 107,119 |
Originated | 178,754 | 160,980 |
Commercial | Other | ' | ' |
Acquired | 866 | 1,074 |
Originated | 175,336 | 125,681 |
Noncommerical | ' | ' |
Acquired | 248,119 | 359,200 |
Originated | 3,604,950 | 3,581,620 |
Noncommerical | Mortgage | ' | ' |
Acquired | 213,851 | 297,926 |
Originated | 982,421 | 822,889 |
Noncommerical | Construction and land development | ' | ' |
Acquired | 2,583 | 20,793 |
Originated | 122,792 | 131,992 |
Noncommerical | Revolving mortgage | ' | ' |
Acquired | 30,834 | 38,710 |
Originated | 2,113,285 | 2,210,133 |
Noncommerical | Consumer | ' | ' |
Acquired | 851 | 1,771 |
Originated | $386,452 | $416,606 |
Loans_and_Leases_Loans_Acquire
Loans and Leases (Loans Acquired By Loan Class) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | $1,029,426 | $1,809,235 |
Commercial | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 781,307 | 1,450,035 |
Commercial | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 78,915 | 237,906 |
Commercial | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 642,891 | 1,054,473 |
Commercial | Other commercial real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 41,381 | 107,119 |
Commercial | Commercial and industrial | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 17,254 | 49,463 |
Commercial | Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 866 | 1,074 |
Noncommerical | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 248,119 | 359,200 |
Noncommerical | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 213,851 | 297,926 |
Noncommerical | Revolving mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 30,834 | 38,710 |
Noncommerical | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 2,583 | 20,793 |
Noncommerical | Consumer | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | $851 | $1,771 |
Loans_and_Leases_Composition_o
Loans and Leases (Composition of the Loans and Leases Outstanding By Credit Quality Indicator) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | $1,029,426 | $1,809,235 |
Originated | 12,104,298 | 11,576,115 |
Pass | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 492,831 | 650,661 |
Special Mention | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 155,750 | 331,614 |
Substandard | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 300,048 | 616,692 |
Doubtful | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 61,121 | 182,568 |
Ungraded | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 19,676 | 27,700 |
Commercial | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 781,307 | 1,450,035 |
Originated | 8,499,348 | 7,994,495 |
Commercial | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 78,915 | 237,906 |
Originated | 319,847 | 309,190 |
Commercial | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 642,891 | 1,054,473 |
Originated | 6,362,490 | 6,029,435 |
Commercial | Other commercial real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 41,381 | 107,119 |
Originated | 178,754 | 160,980 |
Commercial | Commercial and industrial | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 17,254 | 49,463 |
Originated | 1,081,158 | 1,038,530 |
Commercial | Lease financing | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 381,763 | 330,679 |
Commercial | Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 866 | 1,074 |
Originated | 175,336 | 125,681 |
Commercial | Pass | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 8,092,174 | 7,459,277 |
Commercial | Pass | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 2,619 | 17,010 |
Originated | 308,231 | 274,480 |
Commercial | Pass | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 296,824 | 376,974 |
Originated | 6,094,505 | 5,688,541 |
Commercial | Pass | Other commercial real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 22,225 | 33,570 |
Originated | 174,913 | 151,549 |
Commercial | Pass | Commercial and industrial | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 8,021 | 19,451 |
Originated | 964,840 | 894,998 |
Commercial | Pass | Lease financing | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 375,371 | 325,626 |
Commercial | Pass | Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 174,314 | 124,083 |
Commercial | Special Mention | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 147,325 | 200,073 |
Commercial | Special Mention | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 15,530 | 25,734 |
Originated | 8,620 | 14,666 |
Commercial | Special Mention | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 125,295 | 259,264 |
Originated | 119,515 | 166,882 |
Commercial | Special Mention | Other commercial real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 3,431 | 17,518 |
Originated | 1,362 | 2,812 |
Commercial | Special Mention | Commercial and industrial | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 2,585 | 12,465 |
Originated | 14,686 | 13,275 |
Commercial | Special Mention | Lease financing | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 2,160 | 1,601 |
Commercial | Special Mention | Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 982 | 837 |
Commercial | Substandard | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 156,956 | 196,257 |
Commercial | Substandard | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 52,228 | 105,061 |
Originated | 2,944 | 18,761 |
Commercial | Substandard | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 179,657 | 344,542 |
Originated | 141,913 | 157,966 |
Commercial | Substandard | Other commercial real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 7,012 | 44,335 |
Originated | 2,216 | 5,038 |
Commercial | Substandard | Commercial and industrial | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 5,225 | 14,698 |
Originated | 6,352 | 12,073 |
Commercial | Substandard | Lease financing | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 3,491 | 1,663 |
Commercial | Substandard | Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 40 | 756 |
Commercial | Doubtful | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 6,022 | 16,336 |
Commercial | Doubtful | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 7,436 | 87,445 |
Originated | 52 | 952 |
Commercial | Doubtful | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 40,471 | 73,016 |
Originated | 5,159 | 13,475 |
Commercial | Doubtful | Other commercial real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 8,713 | 11,696 |
Originated | 75 | 98 |
Commercial | Doubtful | Commercial and industrial | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 1,257 | 2,757 |
Originated | 144 | 1,040 |
Commercial | Doubtful | Lease financing | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 592 | 771 |
Commercial | Doubtful | Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 0 | 0 |
Commercial | Ungraded | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 96,871 | 122,552 |
Commercial | Ungraded | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 1,102 | 2,656 |
Originated | 0 | 331 |
Commercial | Ungraded | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 644 | 677 |
Originated | 1,398 | 2,571 |
Commercial | Ungraded | Other commercial real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 0 | 0 |
Originated | 188 | 1,483 |
Commercial | Ungraded | Commercial and industrial | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 166 | 92 |
Originated | 95,136 | 117,144 |
Commercial | Ungraded | Lease financing | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 149 | 1,018 |
Commercial | Ungraded | Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Originated | 0 | 5 |
Noncommerical | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 248,119 | 359,200 |
Originated | 3,604,950 | 3,581,620 |
Noncommerical | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 213,851 | 297,926 |
Originated | 982,421 | 822,889 |
Noncommerical | Revolving mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 30,834 | 38,710 |
Originated | 2,113,285 | 2,210,133 |
Noncommerical | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 2,583 | 20,793 |
Originated | 122,792 | 131,992 |
Noncommerical | Consumer | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 851 | 1,771 |
Originated | 386,452 | 416,606 |
Noncommerical | Consumer and Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 1,717 | 2,845 |
Noncommerical | Pass | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 135,326 | 172,165 |
Noncommerical | Pass | Revolving mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 26,322 | 29,540 |
Noncommerical | Pass | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 149 | 334 |
Noncommerical | Pass | Consumer and Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 1,345 | 1,617 |
Noncommerical | Special Mention | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 6,301 | 14,863 |
Noncommerical | Special Mention | Revolving mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 2,608 | 1,736 |
Noncommerical | Special Mention | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 0 | 0 |
Noncommerical | Special Mention | Consumer and Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 0 | 34 |
Noncommerical | Substandard | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 52,774 | 83,193 |
Noncommerical | Substandard | Revolving mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 1,013 | 7,434 |
Noncommerical | Substandard | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 2,139 | 17,190 |
Noncommerical | Substandard | Consumer and Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 0 | 239 |
Noncommerical | Doubtful | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 2,058 | 4,268 |
Noncommerical | Doubtful | Revolving mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 891 | 0 |
Noncommerical | Doubtful | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 295 | 3,269 |
Noncommerical | Doubtful | Consumer and Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 0 | 117 |
Noncommerical | Ungraded | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 17,392 | 23,437 |
Noncommerical | Ungraded | Revolving mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 0 | 0 |
Noncommerical | Ungraded | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 0 | 0 |
Noncommerical | Ungraded | Consumer and Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | 372 | 838 |
Originated Loans | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 12,015,067 | 11,441,555 |
Originated | 12,104,298 | 11,576,115 |
30-59 Days Past Due | 44,167 | 64,528 |
60-89 Days Past Due | 14,236 | 19,620 |
90 Days or Greater | 30,828 | 50,412 |
Originated Loans | Commercial | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 317,778 | 300,385 |
Originated | 319,847 | 309,190 |
30-59 Days Past Due | 1,603 | 927 |
60-89 Days Past Due | 9 | 0 |
90 Days or Greater | 457 | 7,878 |
Originated Loans | Commercial | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 6,333,351 | 5,979,482 |
Originated | 6,362,490 | 6,029,435 |
30-59 Days Past Due | 11,131 | 24,447 |
60-89 Days Past Due | 3,601 | 4,179 |
90 Days or Greater | 14,407 | 21,327 |
Originated Loans | Commercial | Other commercial real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 177,935 | 158,319 |
Originated | 178,754 | 160,980 |
30-59 Days Past Due | 139 | 387 |
60-89 Days Past Due | 210 | 1,240 |
90 Days or Greater | 470 | 1,034 |
Originated Loans | Commercial | Commercial and industrial | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 1,076,704 | 1,033,996 |
Originated | 1,081,158 | 1,038,530 |
30-59 Days Past Due | 3,336 | 2,833 |
60-89 Days Past Due | 682 | 1,096 |
90 Days or Greater | 436 | 605 |
Originated Loans | Commercial | Lease financing | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 379,532 | 328,929 |
Originated | 381,763 | 330,679 |
30-59 Days Past Due | 789 | 991 |
60-89 Days Past Due | 1,341 | 138 |
90 Days or Greater | 101 | 621 |
Originated Loans | Commercial | Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 175,251 | 125,650 |
Originated | 175,336 | 125,681 |
30-59 Days Past Due | 0 | 18 |
60-89 Days Past Due | 85 | 13 |
90 Days or Greater | 0 | 0 |
Originated Loans | Noncommerical | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 3,554,516 | 3,514,794 |
Originated | 3,604,950 | 3,581,620 |
30-59 Days Past Due | 27,169 | 34,925 |
60-89 Days Past Due | 8,308 | 12,954 |
90 Days or Greater | 14,957 | 18,947 |
Originated Loans | Noncommerical | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 955,300 | 786,626 |
Originated | 982,421 | 822,889 |
30-59 Days Past Due | 12,885 | 15,711 |
60-89 Days Past Due | 4,658 | 7,559 |
90 Days or Greater | 9,578 | 12,993 |
Originated Loans | Noncommerical | Revolving mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 2,095,480 | 2,190,186 |
Originated | 2,113,285 | 2,210,133 |
30-59 Days Past Due | 10,977 | 12,868 |
60-89 Days Past Due | 2,378 | 3,200 |
90 Days or Greater | 4,450 | 3,879 |
Originated Loans | Noncommerical | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 121,026 | 128,764 |
Originated | 122,792 | 131,992 |
30-59 Days Past Due | 1,193 | 1,941 |
60-89 Days Past Due | 317 | 490 |
90 Days or Greater | 256 | 797 |
Originated Loans | Noncommerical | Consumer | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 382,710 | 409,218 |
Originated | 386,452 | 416,606 |
30-59 Days Past Due | 2,114 | 4,405 |
60-89 Days Past Due | 955 | 1,705 |
90 Days or Greater | $673 | $1,278 |
Loans_and_Leases_Aging_Of_The_
Loans and Leases (Aging Of The Outstanding Loans and Leases By Class Excluding Loans Impaired At Acquisition Date) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans and Leases | $12,104,298 | $11,576,115 |
Commercial | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans and Leases | 8,499,348 | 7,994,495 |
Commercial | Construction and land development | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans and Leases | 319,847 | 309,190 |
Commercial | Mortgage | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans and Leases | 6,362,490 | 6,029,435 |
Commercial | Other commercial real estate | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans and Leases | 178,754 | 160,980 |
Commercial | Commercial and industrial | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans and Leases | 1,081,158 | 1,038,530 |
Commercial | Lease financing | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans and Leases | 381,763 | 330,679 |
Commercial | Other | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans and Leases | 175,336 | 125,681 |
Noncommerical | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans and Leases | 3,604,950 | 3,581,620 |
Noncommerical | Mortgage | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans and Leases | 982,421 | 822,889 |
Noncommerical | Revolving mortgage | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans and Leases | 2,113,285 | 2,210,133 |
Noncommerical | Construction and land development | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans and Leases | 122,792 | 131,992 |
Noncommerical | Consumer | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans and Leases | 386,452 | 416,606 |
Originated Loans | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 44,167 | 64,528 |
60-89 Days Past Due | 14,236 | 19,620 |
90 Days or Greater | 30,828 | 50,412 |
Total | 89,231 | 134,560 |
Current | 12,015,067 | 11,441,555 |
Total Loans and Leases | 12,104,298 | 11,576,115 |
Originated Loans | Commercial | Construction and land development | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 1,603 | 927 |
60-89 Days Past Due | 9 | 0 |
90 Days or Greater | 457 | 7,878 |
Total | 2,069 | 8,805 |
Current | 317,778 | 300,385 |
Total Loans and Leases | 319,847 | 309,190 |
Originated Loans | Commercial | Mortgage | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 11,131 | 24,447 |
60-89 Days Past Due | 3,601 | 4,179 |
90 Days or Greater | 14,407 | 21,327 |
Total | 29,139 | 49,953 |
Current | 6,333,351 | 5,979,482 |
Total Loans and Leases | 6,362,490 | 6,029,435 |
Originated Loans | Commercial | Other commercial real estate | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 139 | 387 |
60-89 Days Past Due | 210 | 1,240 |
90 Days or Greater | 470 | 1,034 |
Total | 819 | 2,661 |
Current | 177,935 | 158,319 |
Total Loans and Leases | 178,754 | 160,980 |
Originated Loans | Commercial | Commercial and industrial | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 3,336 | 2,833 |
60-89 Days Past Due | 682 | 1,096 |
90 Days or Greater | 436 | 605 |
Total | 4,454 | 4,534 |
Current | 1,076,704 | 1,033,996 |
Total Loans and Leases | 1,081,158 | 1,038,530 |
Originated Loans | Commercial | Lease financing | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 789 | 991 |
60-89 Days Past Due | 1,341 | 138 |
90 Days or Greater | 101 | 621 |
Total | 2,231 | 1,750 |
Current | 379,532 | 328,929 |
Total Loans and Leases | 381,763 | 330,679 |
Originated Loans | Commercial | Other | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 0 | 18 |
60-89 Days Past Due | 85 | 13 |
90 Days or Greater | 0 | 0 |
Total | 85 | 31 |
Current | 175,251 | 125,650 |
Total Loans and Leases | 175,336 | 125,681 |
Originated Loans | Noncommerical | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 27,169 | 34,925 |
60-89 Days Past Due | 8,308 | 12,954 |
90 Days or Greater | 14,957 | 18,947 |
Current | 3,554,516 | 3,514,794 |
Total Loans and Leases | 3,604,950 | 3,581,620 |
Originated Loans | Noncommerical | Mortgage | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 12,885 | 15,711 |
60-89 Days Past Due | 4,658 | 7,559 |
90 Days or Greater | 9,578 | 12,993 |
Total | 27,121 | 36,263 |
Current | 955,300 | 786,626 |
Total Loans and Leases | 982,421 | 822,889 |
Originated Loans | Noncommerical | Revolving mortgage | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 10,977 | 12,868 |
60-89 Days Past Due | 2,378 | 3,200 |
90 Days or Greater | 4,450 | 3,879 |
Total | 17,805 | 19,947 |
Current | 2,095,480 | 2,190,186 |
Total Loans and Leases | 2,113,285 | 2,210,133 |
Originated Loans | Noncommerical | Construction and land development | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 1,193 | 1,941 |
60-89 Days Past Due | 317 | 490 |
90 Days or Greater | 256 | 797 |
Total | 1,766 | 3,228 |
Current | 121,026 | 128,764 |
Total Loans and Leases | 122,792 | 131,992 |
Originated Loans | Noncommerical | Consumer | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 2,114 | 4,405 |
60-89 Days Past Due | 955 | 1,705 |
90 Days or Greater | 673 | 1,278 |
Total | 3,742 | 7,388 |
Current | 382,710 | 409,218 |
Total Loans and Leases | $386,452 | $416,606 |
Loans_and_Leases_Recorded_Inve
Loans and Leases (Recorded Investment, By Class, In Loans And Leases On Nonaccrual Status And Loans And Leases Greater Than 90 Days Past Due And Still Accruing) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | $30,801 | $79,782 |
Commercial | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 26,681 | 73,954 |
Commercial | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 1,002 | 26,920 |
Commercial | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 23,387 | 37,603 |
Commercial | Other commercial real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 1,150 | 2,194 |
Commercial | Commercial and industrial | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 1,142 | 7,237 |
Commercial | Lease financing | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 0 | 0 |
Noncommerical | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 4,120 | 5,828 |
Noncommerical | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 3,663 | 5,828 |
Noncommerical | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 457 | 0 |
Noncommerical | Revolving mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 0 | 0 |
Noncommerical | Consumer and Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 0 | 0 |
Originated Loans | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 53,170 | 89,845 |
Loans and leases greater than 90 days and accruing | 8,784 | 11,272 |
Originated Loans | Commercial | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 544 | 14,930 |
Loans and leases greater than 90 days and accruing | 0 | 541 |
Originated Loans | Commercial | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 33,529 | 50,532 |
Loans and leases greater than 90 days and accruing | 1,113 | 1,671 |
Originated Loans | Commercial | Other commercial real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 1,610 | 2,319 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Originated Loans | Commercial | Commercial and industrial | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 1,428 | 6,972 |
Loans and leases greater than 90 days and accruing | 294 | 466 |
Originated Loans | Commercial | Lease financing | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 832 | 1,075 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Originated Loans | Noncommerical | Mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 14,701 | 12,603 |
Loans and leases greater than 90 days and accruing | 1,998 | 3,337 |
Originated Loans | Noncommerical | Construction and land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 457 | 668 |
Loans and leases greater than 90 days and accruing | 256 | 111 |
Originated Loans | Noncommerical | Revolving mortgage | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 0 | 0 |
Loans and leases greater than 90 days and accruing | 4,450 | 3,877 |
Originated Loans | Noncommerical | Consumer | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Nonaccruing | 69 | 746 |
Loans and leases greater than 90 days and accruing | $673 | $1,269 |
Loans_and_Leases_Changes_In_Ca
Loans and Leases (Changes In Carrying Value Of Acquired Impaired Loans) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired | $1,029,426 | $1,809,235 |
Carrying Value of Acquired Impaired Loans [Roll Forward] | ' | ' |
Beginning balance | 1,809,235 | 2,362,152 |
Reductions for repayments, foreclosures and changes in carrying value, net of accretion | -779,809 | -552,917 |
Ending balance | ' | 1,809,235 |
Outstanding principal balance | 1,833,955 | 3,281,958 |
Loans on the Cost Recovery Method | ' | ' |
Carrying Value of Acquired Impaired Loans [Roll Forward] | ' | ' |
Ending balance | $28,493 | $74,479 |
Loans_and_Leases_Changes_In_Ca1
Loans and Leases (Changes In Carrying Amount Of Accretable Yield) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Changes in Amount of Accretable Yield [Roll Forward] | ' | ' |
Beginning balance | $539,564 | $276,690 |
Accretion | -224,672 | -304,023 |
Reclassifications from nonaccretable difference | 92,349 | 353,708 |
Changes in expected cash flows that do not affect nonaccretable difference | 32,749 | 213,189 |
Ending balance | $439,990 | $539,564 |
Allowance_for_Loan_and_Lease_L2
Allowance for Loan and Lease Losses (Summary of Activity In Allowance for Loan and Lease Losses) (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Reclassification | $7,368 | [1] | $0 | $0 | ' |
Charge-offs | 68,026 | 100,478 | 196,840 | ' | |
Recoveries | 7,289 | 6,467 | 6,942 | ' | |
Provision for loan and lease losses | -32,255 | 142,885 | 232,277 | ' | |
Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Net loans and leases | 12,900,330 | 13,066,332 | ' | ' | |
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 233,394 | 319,018 | 270,144 | 227,765 | |
Allowance for Loan and Lease Losses Write-offs, Net | -60,737 | -94,011 | -189,898 | ' | |
Commercial | Construction and land development | ' | ' | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Non-specific ALLL | 0 | ' | ' | ' | |
Commercial | Mortgage | ' | ' | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Non-specific ALLL | 0 | ' | ' | ' | |
Commercial | Other commercial real estate | ' | ' | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Non-specific ALLL | 0 | ' | ' | ' | |
Commercial | Commercial and industrial | ' | ' | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Non-specific ALLL | 0 | ' | ' | ' | |
Commercial | Lease financing | ' | ' | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Non-specific ALLL | 0 | ' | ' | ' | |
Commercial | Other | ' | ' | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Non-specific ALLL | 0 | ' | ' | ' | |
Noncommerical | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Reclassification | 7,368 | ' | ' | ' | |
Noncommerical | Mortgage | ' | ' | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Non-specific ALLL | 0 | ' | ' | ' | |
Noncommerical | Construction and land development | ' | ' | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Non-specific ALLL | 0 | ' | ' | ' | |
Noncommerical | Revolving mortgage | ' | ' | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Non-specific ALLL | 0 | ' | ' | ' | |
Noncommerical | Consumer | ' | ' | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Non-specific ALLL | 0 | ' | ' | ' | |
Noncommerical | Non-specific | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Reclassification | -15,772 | ' | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Non-specific ALLL | 0 | ' | ' | ' | |
Originated Loans | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 179,046 | 180,883 | 176,517 | ' | |
Reclassification | 7,368 | [1] | ' | ' | ' |
Charge-offs | 33,118 | 50,208 | 59,287 | ' | |
Recoveries | 7,289 | 6,325 | 5,854 | ' | |
Provisions | 19,289 | 42,046 | 57,799 | ' | |
Ending balance | 179,874 | 179,046 | 180,883 | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 10,161 | 18,355 | ' | ' | |
ALLL for loans and leases collectively evaluated for impairment | 169,713 | 144,841 | ' | ' | |
Non-specific ALLL | 0 | 15,850 | ' | ' | |
Total allowance for loan and lease losses | 179,874 | 179,046 | 180,883 | ' | |
Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Loans and leases individually evaluated for impairment | 132,146 | 202,253 | ' | ' | |
Loans and leases collectively evaluated for impairment | 11,972,152 | 11,373,862 | ' | ' | |
Net loans and leases | 12,104,298 | 11,576,115 | ' | ' | |
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses Write-offs, Net | -25,829 | -43,883 | -53,433 | ' | |
Originated Loans | Commercial | Construction and land development | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 6,031 | 5,467 | ' | ' | |
Reclassification | 5,141 | [1] | ' | ' | ' |
Charge-offs | -4,685 | -9,546 | ' | ' | |
Recoveries | 1,039 | 445 | ' | ' | |
Provisions | 2,809 | 9,665 | ' | ' | |
Ending balance | 10,335 | 6,031 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 103 | 2,469 | ' | ' | |
ALLL for loans and leases collectively evaluated for impairment | 10,232 | 3,562 | ' | ' | |
Non-specific ALLL | ' | 0 | ' | ' | |
Total allowance for loan and lease losses | 10,335 | 6,031 | ' | ' | |
Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Loans and leases individually evaluated for impairment | 2,272 | 17,075 | ' | ' | |
Loans and leases collectively evaluated for impairment | 317,575 | 292,115 | ' | ' | |
Net loans and leases | 319,847 | 309,190 | ' | ' | |
Originated Loans | Commercial | Mortgage | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 80,229 | 67,486 | ' | ' | |
Reclassification | 27,421 | [1] | ' | ' | ' |
Charge-offs | -3,904 | -7,081 | ' | ' | |
Recoveries | 996 | 1,626 | ' | ' | |
Provisions | -4,485 | 18,198 | ' | ' | |
Ending balance | 100,257 | 80,229 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 6,873 | 11,697 | ' | ' | |
ALLL for loans and leases collectively evaluated for impairment | 93,384 | 68,532 | ' | ' | |
Non-specific ALLL | ' | 0 | ' | ' | |
Total allowance for loan and lease losses | 100,257 | 80,229 | ' | ' | |
Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Loans and leases individually evaluated for impairment | 97,111 | 133,804 | ' | ' | |
Loans and leases collectively evaluated for impairment | 6,265,379 | 5,895,631 | ' | ' | |
Net loans and leases | 6,362,490 | 6,029,435 | ' | ' | |
Originated Loans | Commercial | Other commercial real estate | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 2,059 | 2,169 | ' | ' | |
Reclassification | -815 | [1] | ' | ' | ' |
Charge-offs | -312 | -254 | ' | ' | |
Recoveries | 109 | 14 | ' | ' | |
Provisions | -32 | 130 | ' | ' | |
Ending balance | 1,009 | 2,059 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 209 | 298 | ' | ' | |
ALLL for loans and leases collectively evaluated for impairment | 800 | 1,761 | ' | ' | |
Non-specific ALLL | ' | 0 | ' | ' | |
Total allowance for loan and lease losses | 1,009 | 2,059 | ' | ' | |
Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Loans and leases individually evaluated for impairment | 1,878 | 3,375 | ' | ' | |
Loans and leases collectively evaluated for impairment | 176,876 | 157,605 | ' | ' | |
Net loans and leases | 178,754 | 160,980 | ' | ' | |
Originated Loans | Commercial | Commercial and industrial | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 14,050 | 23,723 | ' | ' | |
Reclassification | 7,551 | [1] | ' | ' | ' |
Charge-offs | -4,785 | -5,472 | ' | ' | |
Recoveries | 1,213 | 781 | ' | ' | |
Provisions | 4,333 | -4,982 | ' | ' | |
Ending balance | 22,362 | 14,050 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 771 | 2,133 | ' | ' | |
ALLL for loans and leases collectively evaluated for impairment | 21,591 | 11,917 | ' | ' | |
Non-specific ALLL | ' | 0 | ' | ' | |
Total allowance for loan and lease losses | 22,362 | 14,050 | ' | ' | |
Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Loans and leases individually evaluated for impairment | 9,300 | 22,619 | ' | ' | |
Loans and leases collectively evaluated for impairment | 1,071,858 | 1,015,911 | ' | ' | |
Net loans and leases | 1,081,158 | 1,038,530 | ' | ' | |
Originated Loans | Commercial | Lease financing | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 3,521 | 3,288 | ' | ' | |
Reclassification | -253 | [1] | ' | ' | ' |
Charge-offs | -272 | -361 | ' | ' | |
Recoveries | 107 | 96 | ' | ' | |
Provisions | 1,646 | 498 | ' | ' | |
Ending balance | 4,749 | 3,521 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 54 | 202 | ' | ' | |
ALLL for loans and leases collectively evaluated for impairment | 4,695 | 3,319 | ' | ' | |
Non-specific ALLL | ' | 0 | ' | ' | |
Total allowance for loan and lease losses | 4,749 | 3,521 | ' | ' | |
Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Loans and leases individually evaluated for impairment | 188 | 804 | ' | ' | |
Loans and leases collectively evaluated for impairment | 381,575 | 329,875 | ' | ' | |
Net loans and leases | 381,763 | 330,679 | ' | ' | |
Originated Loans | Commercial | Other | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 1,175 | 1,315 | ' | ' | |
Reclassification | -1,288 | [1] | ' | ' | ' |
Charge-offs | -6 | -28 | ' | ' | |
Recoveries | 1 | 4 | ' | ' | |
Provisions | 308 | -116 | ' | ' | |
Ending balance | 190 | 1,175 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 0 | 53 | ' | ' | |
ALLL for loans and leases collectively evaluated for impairment | 190 | 1,122 | ' | ' | |
Non-specific ALLL | ' | 0 | ' | ' | |
Total allowance for loan and lease losses | 190 | 1,175 | ' | ' | |
Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Loans and leases individually evaluated for impairment | 0 | 707 | ' | ' | |
Loans and leases collectively evaluated for impairment | 175,336 | 124,974 | ' | ' | |
Net loans and leases | 175,336 | 125,681 | ' | ' | |
Originated Loans | Noncommerical | Mortgage | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 3,836 | 8,879 | ' | ' | |
Reclassification | 5,717 | [1] | ' | ' | ' |
Charge-offs | -2,387 | -4,790 | ' | ' | |
Recoveries | 559 | 529 | ' | ' | |
Provisions | 2,786 | -782 | ' | ' | |
Ending balance | 10,511 | 3,836 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 1,586 | 959 | ' | ' | |
ALLL for loans and leases collectively evaluated for impairment | 8,925 | 2,877 | ' | ' | |
Non-specific ALLL | ' | 0 | ' | ' | |
Total allowance for loan and lease losses | 10,511 | 3,836 | ' | ' | |
Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Loans and leases individually evaluated for impairment | 15,539 | 15,836 | ' | ' | |
Loans and leases collectively evaluated for impairment | 966,882 | 807,053 | ' | ' | |
Net loans and leases | 982,421 | 822,889 | ' | ' | |
Originated Loans | Noncommerical | Construction and land development | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 1,721 | 1,427 | ' | ' | |
Reclassification | -478 | [1] | ' | ' | ' |
Charge-offs | -392 | -1,047 | ' | ' | |
Recoveries | 209 | 180 | ' | ' | |
Provisions | -379 | 1,161 | ' | ' | |
Ending balance | 681 | 1,721 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 72 | 287 | ' | ' | |
ALLL for loans and leases collectively evaluated for impairment | 609 | 1,434 | ' | ' | |
Non-specific ALLL | ' | 0 | ' | ' | |
Total allowance for loan and lease losses | 681 | 1,721 | ' | ' | |
Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Loans and leases individually evaluated for impairment | 1,108 | 1,321 | ' | ' | |
Loans and leases collectively evaluated for impairment | 121,684 | 130,671 | ' | ' | |
Net loans and leases | 122,792 | 131,992 | ' | ' | |
Originated Loans | Noncommerical | Revolving mortgage | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 25,185 | 27,045 | ' | ' | |
Reclassification | -9,838 | [1] | ' | ' | ' |
Charge-offs | -6,064 | -11,341 | ' | ' | |
Recoveries | 660 | 698 | ' | ' | |
Provisions | 6,296 | 8,783 | ' | ' | |
Ending balance | 16,239 | 25,185 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 372 | 1 | ' | ' | |
ALLL for loans and leases collectively evaluated for impairment | 15,867 | 25,184 | ' | ' | |
Non-specific ALLL | ' | 0 | ' | ' | |
Total allowance for loan and lease losses | 16,239 | 25,185 | ' | ' | |
Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Loans and leases individually evaluated for impairment | 3,596 | 4,203 | ' | ' | |
Loans and leases collectively evaluated for impairment | 2,109,689 | 2,205,930 | ' | ' | |
Net loans and leases | 2,113,285 | 2,210,133 | ' | ' | |
Originated Loans | Noncommerical | Consumer | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 25,389 | 25,962 | ' | ' | |
Reclassification | -10,018 | [1] | ' | ' | ' |
Charge-offs | -10,311 | -10,288 | ' | ' | |
Recoveries | 2,396 | 1,952 | ' | ' | |
Provisions | 6,085 | 7,763 | ' | ' | |
Ending balance | 13,541 | 25,389 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 121 | 256 | ' | ' | |
ALLL for loans and leases collectively evaluated for impairment | 13,420 | 25,133 | ' | ' | |
Non-specific ALLL | ' | 0 | ' | ' | |
Total allowance for loan and lease losses | 13,541 | 25,389 | ' | ' | |
Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Loans and leases individually evaluated for impairment | 1,154 | 2,509 | ' | ' | |
Loans and leases collectively evaluated for impairment | 385,298 | 414,097 | ' | ' | |
Net loans and leases | 386,452 | 416,606 | ' | ' | |
Originated Loans | Noncommerical | Non-specific | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 15,850 | 14,122 | ' | ' | |
Reclassification | -15,772 | [1] | ' | ' | ' |
Charge-offs | 0 | 0 | ' | ' | |
Recoveries | 0 | 0 | ' | ' | |
Provisions | -78 | 1,728 | ' | ' | |
Ending balance | 0 | 15,850 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 0 | 0 | ' | ' | |
ALLL for loans and leases collectively evaluated for impairment | 0 | 0 | ' | ' | |
Non-specific ALLL | ' | 15,850 | ' | ' | |
Total allowance for loan and lease losses | 0 | 15,850 | ' | ' | |
Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Loans and leases individually evaluated for impairment | 0 | 0 | ' | ' | |
Loans and leases collectively evaluated for impairment | 0 | 0 | ' | ' | |
Net loans and leases | 0 | 0 | ' | ' | |
Acquired Loans | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 139,972 | 89,261 | 51,248 | ' | |
Reclassification | 0 | [1] | ' | ' | ' |
Charge-offs | 34,908 | 50,270 | 137,553 | ' | |
Recoveries | 0 | 142 | 1,088 | ' | |
Provisions | -51,544 | 100,839 | 174,478 | ' | |
Ending balance | 53,520 | 139,972 | 89,261 | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Total allowance for loan and lease losses | 53,520 | 139,972 | 89,261 | ' | |
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases acquired with deteriorated credit quality | 53,520 | 139,972 | ' | ' | |
Loans and leases acquired with deteriorated credit quality | 1,029,426 | 1,809,235 | ' | ' | |
Allowance for Loan and Lease Losses Write-offs, Net | -34,908 | -50,128 | -136,465 | ' | |
Acquired Loans | Commercial | Construction and land development | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 31,186 | 16,693 | ' | ' | |
Charge-offs | -6,924 | -8,667 | ' | ' | |
Recoveries | 0 | 0 | ' | ' | |
Provisions | -22,942 | 23,160 | ' | ' | |
Ending balance | 1,320 | 31,186 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Total allowance for loan and lease losses | 1,320 | 31,186 | ' | ' | |
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases acquired with deteriorated credit quality | 1,320 | 31,186 | ' | ' | |
Loans and leases acquired with deteriorated credit quality | 78,915 | 237,906 | ' | ' | |
Acquired Loans | Commercial | Mortgage | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 50,275 | 39,557 | ' | ' | |
Charge-offs | -16,497 | -23,509 | ' | ' | |
Recoveries | 0 | 0 | ' | ' | |
Provisions | -3,872 | 34,227 | ' | ' | |
Ending balance | 29,906 | 50,275 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Total allowance for loan and lease losses | 29,906 | 50,275 | ' | ' | |
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases acquired with deteriorated credit quality | 29,906 | 50,275 | ' | ' | |
Loans and leases acquired with deteriorated credit quality | 642,891 | 1,054,473 | ' | ' | |
Acquired Loans | Commercial | Other commercial real estate | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 11,234 | 16,862 | ' | ' | |
Charge-offs | -931 | -1,256 | ' | ' | |
Recoveries | 0 | 0 | ' | ' | |
Provisions | -8,949 | -4,372 | ' | ' | |
Ending balance | 1,354 | 11,234 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Total allowance for loan and lease losses | 1,354 | 11,234 | ' | ' | |
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases acquired with deteriorated credit quality | 1,354 | 11,234 | ' | ' | |
Loans and leases acquired with deteriorated credit quality | 41,381 | 107,119 | ' | ' | |
Acquired Loans | Commercial | Commercial and industrial | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 8,897 | 5,500 | ' | ' | |
Charge-offs | -4,092 | -8,442 | ' | ' | |
Recoveries | 0 | 0 | ' | ' | |
Provisions | 470 | 11,839 | ' | ' | |
Ending balance | 5,275 | 8,897 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Total allowance for loan and lease losses | 5,275 | 8,897 | ' | ' | |
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases acquired with deteriorated credit quality | 5,275 | 8,897 | ' | ' | |
Loans and leases acquired with deteriorated credit quality | 17,254 | 49,463 | ' | ' | |
Acquired Loans | Commercial | Lease financing | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 0 | 13 | ' | ' | |
Charge-offs | 0 | 0 | ' | ' | |
Recoveries | 0 | 0 | ' | ' | |
Provisions | 0 | -13 | ' | ' | |
Ending balance | 0 | 0 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Total allowance for loan and lease losses | 0 | 0 | ' | ' | |
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases acquired with deteriorated credit quality | 0 | 0 | ' | ' | |
Loans and leases acquired with deteriorated credit quality | 0 | 0 | ' | ' | |
Acquired Loans | Noncommerical | Mortgage | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 19,837 | 5,433 | ' | ' | |
Charge-offs | -2,548 | -4,139 | ' | ' | |
Recoveries | 0 | 142 | ' | ' | |
Provisions | -5,487 | 18,401 | ' | ' | |
Ending balance | 11,802 | 19,837 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Total allowance for loan and lease losses | 11,802 | 19,837 | ' | ' | |
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases acquired with deteriorated credit quality | 11,802 | 19,837 | ' | ' | |
Loans and leases acquired with deteriorated credit quality | 213,851 | 297,926 | ' | ' | |
Acquired Loans | Noncommerical | Construction and land development | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 8,287 | 4,652 | ' | ' | |
Charge-offs | -3,435 | -2,885 | ' | ' | |
Recoveries | 0 | 0 | ' | ' | |
Provisions | -4,170 | 6,520 | ' | ' | |
Ending balance | 682 | 8,287 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Total allowance for loan and lease losses | 682 | 8,287 | ' | ' | |
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases acquired with deteriorated credit quality | 682 | 8,287 | ' | ' | |
Loans and leases acquired with deteriorated credit quality | 2,583 | 20,793 | ' | ' | |
Acquired Loans | Noncommerical | Revolving mortgage | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 9,754 | 77 | ' | ' | |
Charge-offs | -396 | -1,119 | ' | ' | |
Recoveries | 0 | 0 | ' | ' | |
Provisions | -6,399 | 10,796 | ' | ' | |
Ending balance | 2,959 | 9,754 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Total allowance for loan and lease losses | 2,959 | 9,754 | ' | ' | |
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases acquired with deteriorated credit quality | 2,959 | 9,754 | ' | ' | |
Loans and leases acquired with deteriorated credit quality | 30,834 | 38,710 | ' | ' | |
Acquired Loans | Noncommerical | Consumer and Other | ' | ' | ' | ' | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | |
Beginning balance | 502 | 474 | ' | ' | |
Charge-offs | -85 | -253 | ' | ' | |
Recoveries | 0 | 0 | ' | ' | |
Provisions | -195 | 281 | ' | ' | |
Ending balance | 222 | 502 | ' | ' | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ' | ' | ' | ' | |
Total allowance for loan and lease losses | 222 | 502 | ' | ' | |
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ' | ' | ' | ' | |
ALLL for loans and leases acquired with deteriorated credit quality | 222 | 502 | ' | ' | |
Loans and leases acquired with deteriorated credit quality | $1,717 | $2,845 | ' | ' | |
[1] | Reclassification results from enhancements to the ALLL calculation during the second quarter of 2013 that resulted in the allocation of $15.8 million previously designated as 'nonspecific' to other loan classes and the absorption of $7.4 million of the reserve for unfunded commitments related to unfunded, revocable loan commitments into the ALLL. Further discussion is contained in Note A. |
Allowance_for_Loan_and_Lease_L3
Allowance for Loan and Lease Losses (Allocation of Allowance for Loan and Lease Losses) (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | $7,368 | [1] | $0 | $0 | ' |
Allowance for loan and lease losses | 233,394 | 319,018 | 270,144 | 227,765 | |
Noncommerical | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | 7,368 | ' | ' | ' | |
Noncommerical | Non-specific | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | -15,772 | ' | ' | ' | |
Originated Loans | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | 7,368 | [1] | ' | ' | ' |
Unpaid principal balance | 145,485 | 221,508 | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 10,161 | 18,355 | ' | ' | |
Financing Receivable, Individually Evaluated for Impairment | 132,146 | 202,253 | ' | ' | |
Average balance | 151,330 | 158,426 | 119,228 | ' | |
Interest income recognized | 7,817 | 6,735 | 2,341 | ' | |
Originated Loans | Commercial | Construction and land development | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | 5,141 | [1] | ' | ' | ' |
Unpaid principal balance | 7,306 | 32,898 | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 103 | 2,469 | ' | ' | |
Financing Receivable, Individually Evaluated for Impairment | 2,272 | 17,075 | ' | ' | |
Average balance | 6,414 | 22,493 | 26,612 | ' | |
Interest income recognized | 270 | 399 | 56 | ' | |
Originated Loans | Commercial | Mortgage | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | 27,421 | [1] | ' | ' | ' |
Unpaid principal balance | 103,522 | 136,743 | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 6,873 | 11,697 | ' | ' | |
Financing Receivable, Individually Evaluated for Impairment | 97,111 | 133,804 | ' | ' | |
Average balance | 105,628 | 96,082 | 65,729 | ' | |
Interest income recognized | 5,702 | 4,630 | 1,330 | ' | |
Originated Loans | Commercial | Other commercial real estate | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | -815 | [1] | ' | ' | ' |
Unpaid principal balance | 2,279 | 3,475 | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 209 | 298 | ' | ' | |
Financing Receivable, Individually Evaluated for Impairment | 1,878 | 3,375 | ' | ' | |
Average balance | 2,658 | 2,690 | 1,368 | ' | |
Interest income recognized | 144 | 142 | 55 | ' | |
Originated Loans | Commercial | Commercial and industrial | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | 7,551 | [1] | ' | ' | ' |
Unpaid principal balance | 10,393 | 22,619 | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 771 | 2,133 | ' | ' | |
Financing Receivable, Individually Evaluated for Impairment | 9,300 | 22,619 | ' | ' | |
Average balance | 12,772 | 13,658 | 12,984 | ' | |
Interest income recognized | 642 | 788 | 456 | ' | |
Originated Loans | Commercial | Lease financing | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | -253 | [1] | ' | ' | ' |
Unpaid principal balance | 188 | 804 | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 54 | 202 | ' | ' | |
Financing Receivable, Individually Evaluated for Impairment | 188 | 804 | ' | ' | |
Average balance | 350 | 497 | 587 | ' | |
Interest income recognized | 22 | 37 | 21 | ' | |
Originated Loans | Commercial | Other | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | -1,288 | [1] | ' | ' | ' |
Unpaid principal balance | ' | 707 | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 0 | 53 | ' | ' | |
Financing Receivable, Individually Evaluated for Impairment | 0 | 707 | ' | ' | |
Average balance | 0 | 424 | 38 | ' | |
Interest income recognized | 0 | 23 | 0 | ' | |
Originated Loans | Noncommerical | Mortgage | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | 5,717 | [1] | ' | ' | ' |
Unpaid principal balance | 15,939 | 16,229 | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 1,586 | 959 | ' | ' | |
Financing Receivable, Individually Evaluated for Impairment | 15,539 | 15,836 | ' | ' | |
Average balance | 15,470 | 14,951 | 9,252 | ' | |
Interest income recognized | 444 | 586 | 300 | ' | |
Originated Loans | Noncommerical | Construction and land development | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | -478 | [1] | ' | ' | ' |
Unpaid principal balance | 1,108 | 1,321 | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 72 | 287 | ' | ' | |
Financing Receivable, Individually Evaluated for Impairment | 1,108 | 1,321 | ' | ' | |
Average balance | 958 | 2,850 | 2,022 | ' | |
Interest income recognized | 55 | 41 | 105 | ' | |
Originated Loans | Noncommerical | Revolving mortgage | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | -9,838 | [1] | ' | ' | ' |
Unpaid principal balance | 3,596 | 4,203 | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 372 | 1 | ' | ' | |
Financing Receivable, Individually Evaluated for Impairment | 3,596 | 4,203 | ' | ' | |
Average balance | 5,653 | 2,931 | 0 | ' | |
Interest income recognized | 485 | 68 | 0 | ' | |
Originated Loans | Noncommerical | Consumer | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | -10,018 | [1] | ' | ' | ' |
Unpaid principal balance | 1,154 | 2,509 | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 121 | 256 | ' | ' | |
Financing Receivable, Individually Evaluated for Impairment | 1,154 | 2,509 | ' | ' | |
Average balance | 1,427 | 1,850 | 636 | ' | |
Interest income recognized | 53 | 21 | 18 | ' | |
Originated Loans | Noncommerical | Non-specific | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | -15,772 | [1] | ' | ' | ' |
Unpaid principal balance | ' | 0 | ' | ' | |
ALLL for loans and leases individually evaluated for impairment | 0 | 0 | ' | ' | |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ' | ' | |
Originated Loans | With A Recorded Allowance | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Total impaired noncovered loans and leases | 83,678 | 68,463 | ' | ' | |
Originated Loans | With A Recorded Allowance | Commercial | Construction and land development | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 1,025 | 5,941 | ' | ' | |
Originated Loans | With A Recorded Allowance | Commercial | Mortgage | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 57,819 | 39,648 | ' | ' | |
Originated Loans | With A Recorded Allowance | Commercial | Other commercial real estate | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 783 | 1,425 | ' | ' | |
Originated Loans | With A Recorded Allowance | Commercial | Commercial and industrial | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 7,197 | 7,429 | ' | ' | |
Originated Loans | With A Recorded Allowance | Commercial | Lease financing | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 133 | 665 | ' | ' | |
Originated Loans | With A Recorded Allowance | Commercial | Other | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | ' | 0 | ' | ' | |
Originated Loans | With A Recorded Allowance | Noncommerical | Mortgage | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 11,534 | 9,346 | ' | ' | |
Originated Loans | With A Recorded Allowance | Noncommerical | Construction and land development | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 651 | 1,162 | ' | ' | |
Originated Loans | With A Recorded Allowance | Noncommerical | Revolving mortgage | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 3,382 | 1,238 | ' | ' | |
Originated Loans | With A Recorded Allowance | Noncommerical | Consumer | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 1,154 | 1,609 | ' | ' | |
Originated Loans | With A Recorded Allowance | Noncommerical | Non-specific | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | ' | 0 | ' | ' | |
Originated Loans | With No Recorded Allowance | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 48,468 | 133,790 | ' | ' | |
Originated Loans | With No Recorded Allowance | Commercial | Construction and land development | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 1,247 | 11,134 | ' | ' | |
Originated Loans | With No Recorded Allowance | Commercial | Mortgage | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 39,292 | 94,156 | ' | ' | |
Originated Loans | With No Recorded Allowance | Commercial | Other commercial real estate | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 1,095 | 1,950 | ' | ' | |
Originated Loans | With No Recorded Allowance | Commercial | Commercial and industrial | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 2,103 | 15,190 | ' | ' | |
Originated Loans | With No Recorded Allowance | Commercial | Lease financing | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 55 | 139 | ' | ' | |
Originated Loans | With No Recorded Allowance | Commercial | Other | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | ' | 707 | ' | ' | |
Originated Loans | With No Recorded Allowance | Noncommerical | Mortgage | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 4,005 | 6,490 | ' | ' | |
Originated Loans | With No Recorded Allowance | Noncommerical | Construction and land development | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 457 | 159 | ' | ' | |
Originated Loans | With No Recorded Allowance | Noncommerical | Revolving mortgage | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 214 | 2,965 | ' | ' | |
Originated Loans | With No Recorded Allowance | Noncommerical | Consumer | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | 0 | 900 | ' | ' | |
Originated Loans | With No Recorded Allowance | Noncommerical | Non-specific | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Allowance for loan and lease losses | ' | 0 | ' | ' | |
Acquired Loans | ' | ' | ' | ' | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | |
Reclassification | 0 | [1] | ' | ' | ' |
Acquired loans which have adverse change in expected cash flows | $459,947 | ' | ' | ' | |
[1] | Reclassification results from enhancements to the ALLL calculation during the second quarter of 2013 that resulted in the allocation of $15.8 million previously designated as 'nonspecific' to other loan classes and the absorption of $7.4 million of the reserve for unfunded commitments related to unfunded, revocable loan commitments into the ALLL. Further discussion is contained in Note A. |
Allowance_for_Loan_and_Lease_L4
Allowance for Loan and Lease Losses (Troubled Debt Restructuring) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accruing | $175,955,000 | $253,388,000 |
Nonaccruing | 30,801,000 | 79,782,000 |
Financing Receivable, Modifications, Recorded Investment | 206,756,000 | 333,170,000 |
Impaired Loans and Leases, Baseline for Meaurement | 500,000 | ' |
Originated Loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Nonaccruing | 53,170,000 | 89,845,000 |
Financing Receivable, Modifications, Recorded Investment | 104,448,000 | 139,963,000 |
Acquired Loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 102,308,000 | 193,207,000 |
Commercial | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accruing | 147,712,000 | 220,397,000 |
Nonaccruing | 26,681,000 | 73,954,000 |
Financing Receivable, Modifications, Recorded Investment | 174,393,000 | 294,351,000 |
Commercial | Construction and land development | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accruing | 21,032,000 | 47,368,000 |
Nonaccruing | 1,002,000 | 26,920,000 |
Financing Receivable, Modifications, Recorded Investment | 22,034,000 | 74,288,000 |
Commercial | Construction and land development | Originated Loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Nonaccruing | 544,000 | 14,930,000 |
Commercial | Mortgage | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accruing | 113,323,000 | 151,728,000 |
Nonaccruing | 23,387,000 | 37,603,000 |
Financing Receivable, Modifications, Recorded Investment | 136,710,000 | 189,331,000 |
Commercial | Mortgage | Originated Loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Nonaccruing | 33,529,000 | 50,532,000 |
Commercial | Other commercial real estate | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accruing | 3,470,000 | 10,137,000 |
Nonaccruing | 1,150,000 | 2,194,000 |
Financing Receivable, Modifications, Recorded Investment | 4,620,000 | 12,331,000 |
Commercial | Other commercial real estate | Originated Loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Nonaccruing | 1,610,000 | 2,319,000 |
Commercial | Commercial and industrial | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accruing | 9,838,000 | 10,940,000 |
Nonaccruing | 1,142,000 | 7,237,000 |
Financing Receivable, Modifications, Recorded Investment | 10,980,000 | 18,177,000 |
Commercial | Commercial and industrial | Originated Loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Nonaccruing | 1,428,000 | 6,972,000 |
Commercial | Lease financing | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accruing | 49,000 | 224,000 |
Nonaccruing | 0 | 0 |
Financing Receivable, Modifications, Recorded Investment | 49,000 | 224,000 |
Commercial | Lease financing | Originated Loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Nonaccruing | 832,000 | 1,075,000 |
Noncommerical | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accruing | 28,243,000 | 32,991,000 |
Nonaccruing | 4,120,000 | 5,828,000 |
Financing Receivable, Modifications, Recorded Investment | 32,363,000 | 38,819,000 |
Noncommerical | Mortgage | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accruing | 23,343,000 | 28,777,000 |
Nonaccruing | 3,663,000 | 5,828,000 |
Financing Receivable, Modifications, Recorded Investment | 27,006,000 | 34,605,000 |
Noncommerical | Mortgage | Originated Loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Nonaccruing | 14,701,000 | 12,603,000 |
Noncommerical | Construction and land development | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accruing | 651,000 | 1,657,000 |
Nonaccruing | 457,000 | 0 |
Financing Receivable, Modifications, Recorded Investment | 1,108,000 | 1,657,000 |
Noncommerical | Construction and land development | Originated Loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Nonaccruing | 457,000 | 668,000 |
Noncommerical | Revolving mortgage | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accruing | 3,095,000 | 48,000 |
Nonaccruing | 0 | 0 |
Financing Receivable, Modifications, Recorded Investment | 3,095,000 | 48,000 |
Noncommerical | Revolving mortgage | Originated Loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Nonaccruing | 0 | 0 |
Noncommerical | Consumer and Other | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accruing | 1,154,000 | 2,509,000 |
Nonaccruing | 0 | 0 |
Financing Receivable, Modifications, Recorded Investment | $1,154,000 | $2,509,000 |
Allowance_for_Loan_and_Lease_L5
Allowance for Loan and Lease Losses (Note Restructurings During Period) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
loans | loans | loans | loans | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | $206,756 | $333,170 | $206,756 | $333,170 |
Commercial | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 174,393 | 294,351 | 174,393 | 294,351 |
Commercial | Construction and land development | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 22,034 | 74,288 | 22,034 | 74,288 |
Commercial | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 136,710 | 189,331 | 136,710 | 189,331 |
Commercial | Other commercial real estate | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 4,620 | 12,331 | 4,620 | 12,331 |
Commercial | Commercial and industrial | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 10,980 | 18,177 | 10,980 | 18,177 |
Commercial | Lease financing | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 49 | 224 | 49 | 224 |
Noncommerical | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 32,363 | 38,819 | 32,363 | 38,819 |
Noncommerical | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 27,006 | 34,605 | 27,006 | 34,605 |
Noncommerical | Construction and land development | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 1,108 | 1,657 | 1,108 | 1,657 |
Noncommerical | Revolving mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 3,095 | 48 | 3,095 | 48 |
Originated Loans | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 104,448 | 139,963 | 104,448 | 139,963 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 7 | 10 | 13 | 33 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 803 | 2,703 | 1,080 | 7,479 |
Financing Receivable, Modifications, Number of Contracts | 27 | 29 | 148 | 150 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 6,353 | 7,942 | 24,787 | 47,333 |
Originated Loans | Interest Only Loan | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 3 | 1 | 5 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 1,900 | 0 | 2,333 |
Financing Receivable, Modifications, Number of Contracts | 2 | 4 | 10 | 18 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 503 | 1,674 | 2,547 | 5,674 |
Originated Loans | Interest Only Loan | Residential Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 1 | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 559 | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | ' | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | ' | ' |
Originated Loans | Interest Only Loan | Construction and land development | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 0 | 1 | ' | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 476 | ' | ' |
Originated Loans | Loan Term Extension | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 5 | 0 | 19 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 254 | 0 | 3,780 |
Financing Receivable, Modifications, Number of Contracts | 4 | 10 | 23 | 86 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 1,011 | 2,367 | 3,918 | 29,143 |
Originated Loans | Below Market Interest Rate | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 3 | 2 | 4 | 9 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 673 | 549 | 746 | 1,366 |
Financing Receivable, Modifications, Number of Contracts | 20 | 15 | 77 | 42 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 4,807 | 3,901 | 15,235 | 11,096 |
Originated Loans | Below Market Interest Rate | Consumer | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 0 | 2 | ' | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 16 | ' | ' |
Originated Loans | Discharge of Debt | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 3 | 0 | 8 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 130 | 0 | 334 | 0 |
Financing Receivable, Modifications, Number of Contracts | 1 | 0 | 38 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 32 | 0 | 3,087 | 0 |
Originated Loans | Commercial | Interest Only Loan | Construction and land development | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 0 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 0 | 316 |
Originated Loans | Commercial | Interest Only Loan | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 1 | 1 | 3 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 595 | 0 | 1,440 |
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | 6 | 12 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 305 | 861 | 1,520 | 3,891 |
Originated Loans | Commercial | Interest Only Loan | Other commercial real estate | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 1 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 0 | 0 |
Originated Loans | Commercial | Interest Only Loan | Commercial and industrial | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 1 | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 746 | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | 1 | 2 | 2 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 198 | 337 | 397 | 574 |
Originated Loans | Commercial | Loan Term Extension | Construction and land development | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 0 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 0 | 7,667 |
Originated Loans | Commercial | Loan Term Extension | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 3 | 0 | 13 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 122 | 0 | 3,456 |
Financing Receivable, Modifications, Number of Contracts | 1 | 7 | 9 | 50 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 770 | 2,319 | 3,270 | 16,818 |
Originated Loans | Commercial | Loan Term Extension | Other commercial real estate | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 0 | 3 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 0 | 1,318 |
Originated Loans | Commercial | Loan Term Extension | Commercial and industrial | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 1 | 0 | 4 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 24 | 0 | 169 |
Financing Receivable, Modifications, Number of Contracts | 0 | 1 | 1 | 11 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 24 | 47 | 1,363 |
Originated Loans | Commercial | Loan Term Extension | Lease financing | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 0 | 3 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 0 | 166 |
Originated Loans | Commercial | Below Market Interest Rate | Construction and land development | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 3 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 609 | 227 |
Originated Loans | Commercial | Below Market Interest Rate | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 1 | 1 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 295 | 490 | 295 | 490 |
Financing Receivable, Modifications, Number of Contracts | 8 | 8 | 28 | 12 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 3,964 | 3,444 | 10,873 | 7,333 |
Originated Loans | Commercial | Below Market Interest Rate | Other commercial real estate | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 2 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 378 | 0 |
Originated Loans | Commercial | Below Market Interest Rate | Commercial and industrial | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | 0 | 3 | 3 | 11 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 311 | 851 | 1,584 |
Originated Loans | Commercial | Other Concession | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 0 | 3 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 0 | 1,036 |
Originated Loans | Noncommerical | Interest Only Loan | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 893 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 1 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 630 | 893 |
Originated Loans | Noncommerical | Loan Term Extension | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 1 | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 108 | 0 | 155 |
Financing Receivable, Modifications, Number of Contracts | 3 | 1 | 11 | 9 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 241 | 16 | 539 | 521 |
Originated Loans | Noncommerical | Loan Term Extension | Construction and land development | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 0 | 158 |
Originated Loans | Noncommerical | Loan Term Extension | Consumer | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | 0 | 1 | 2 | 7 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 8 | 62 | 1,132 |
Originated Loans | Noncommerical | Below Market Interest Rate | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 1 | 0 | 5 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 59 | 0 | 828 |
Financing Receivable, Modifications, Number of Contracts | 6 | 2 | 21 | 13 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 347 | 130 | 1,235 | 1,887 |
Originated Loans | Noncommerical | Below Market Interest Rate | Construction and land development | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 4 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 269 | 0 |
Originated Loans | Noncommerical | Below Market Interest Rate | Revolving mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 2 | 0 | 3 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 378 | 0 | 451 | 48 |
Financing Receivable, Modifications, Number of Contracts | 6 | 0 | 13 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 496 | 0 | 801 | 48 |
Originated Loans | Noncommerical | Below Market Interest Rate | Consumer | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 3 | 4 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 219 | 17 |
Originated Loans | Noncommerical | Discharge of Debt | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 2 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | 60 | 0 |
Financing Receivable, Modifications, Number of Contracts | 1 | 0 | 7 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 32 | 0 | 510 | 0 |
Originated Loans | Noncommerical | Discharge of Debt | Revolving mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 3 | 0 | 6 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 130 | 0 | 274 | 0 |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 31 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 2,577 | 0 |
Originated Loans | Noncommerical | Other Concession | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 0 | 4 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 0 | 1,420 |
Originated Loans | Noncommerical | Other Concession | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 0 | 384 |
Acquired Loans | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 102,308 | 193,207 | 102,308 | 193,207 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 3 | 9 | 14 | 30 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2,340 | 8,521 | 12,059 | 22,153 |
Financing Receivable, Modifications, Number of Contracts | 5 | 12 | 47 | 89 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 768 | 26,119 | 24,477 | 76,291 |
Acquired Loans | Interest Only Loan | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 2 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | 2,889 | 590 |
Financing Receivable, Modifications, Number of Contracts | 2 | 1 | 8 | 9 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 403 | 2,994 | 5,530 | 14,162 |
Acquired Loans | Loan Term Extension | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 1 | 3 | 3 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 157 | 66 | 5,277 | 8,332 |
Financing Receivable, Modifications, Number of Contracts | 1 | 0 | 12 | 19 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 100 | 0 | 8,637 | 15,147 |
Acquired Loans | Below Market Interest Rate | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 2 | 7 | 9 | 24 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2,183 | 8,401 | 3,893 | 13,177 |
Financing Receivable, Modifications, Number of Contracts | 2 | 11 | 26 | 60 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 265 | 23,125 | 10,200 | 46,928 |
Acquired Loans | Other Concession | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 1 | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 54 | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | ' | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | ' | ' |
Acquired Loans | Commercial | Interest Only Loan | Construction and land development | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 1 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 2,590 | 356 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 1 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 2,590 | 496 |
Acquired Loans | Commercial | Interest Only Loan | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 1 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | 299 | 234 |
Financing Receivable, Modifications, Number of Contracts | 2 | 0 | 5 | 4 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 403 | 0 | 2,880 | 10,404 |
Acquired Loans | Commercial | Interest Only Loan | Other commercial real estate | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | 0 | 1 | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 2,994 | 0 | 2,994 |
Acquired Loans | Commercial | Interest Only Loan | Commercial and industrial | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 1 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 21 | 170 |
Acquired Loans | Commercial | Loan Term Extension | Construction and land development | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | 0 | 3,703 |
Financing Receivable, Modifications, Number of Contracts | 1 | 0 | 6 | 9 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 100 | 0 | 2,247 | 7,294 |
Acquired Loans | Commercial | Loan Term Extension | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 0 | 1 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 157 | 0 | 157 | 0 |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 1 | 4 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 157 | 2,584 |
Acquired Loans | Commercial | Loan Term Extension | Commercial and industrial | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 2 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 1,080 | 158 |
Acquired Loans | Commercial | Below Market Interest Rate | Construction and land development | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 3 | 0 | 5 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 7,050 | 0 | 8,781 |
Financing Receivable, Modifications, Number of Contracts | 0 | 3 | 2 | 13 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 17,615 | 106 | 19,953 |
Acquired Loans | Commercial | Below Market Interest Rate | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 2 | 1 | 4 | 6 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2,183 | 1,229 | 2,418 | 3,906 |
Financing Receivable, Modifications, Number of Contracts | 1 | 4 | 12 | 18 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 165 | 2,715 | 7,513 | 19,100 |
Acquired Loans | Commercial | Below Market Interest Rate | Other commercial real estate | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 0 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 0 | 1,954 |
Acquired Loans | Commercial | Below Market Interest Rate | Commercial and industrial | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | 0 | 1 | 2 | 5 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 253 | 493 | 1,299 |
Acquired Loans | Commercial | Other Concession | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 1 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 110 | 0 |
Acquired Loans | Noncommerical | Interest Only Loan | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 1 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 39 | 98 |
Acquired Loans | Noncommerical | Loan Term Extension | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 1 | 2 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 66 | 5,120 | 4,629 |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 3 | 4 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 5,153 | 5,111 |
Acquired Loans | Noncommerical | Below Market Interest Rate | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 3 | 5 | 10 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 122 | 1,475 | 490 |
Financing Receivable, Modifications, Number of Contracts | 1 | 3 | 10 | 21 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 100 | 2,542 | 2,088 | 4,622 |
Acquired Loans | Noncommerical | Below Market Interest Rate | Construction and land development | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 0 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 0 | 0 |
Acquired Loans | Noncommerical | Other Concession | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | 0 | 54 |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 1 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 110 | 54 |
Acquired Loans | Noncommerical | Other Concession | Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 1 | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 54 | 0 | 54 |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $0 | $0 | $0 | $54 |
Premises_and_Equipment_Major_C
Premises and Equipment (Major Classifications) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | $1,474,118 | $1,432,662 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 597,596 | 549,894 |
Property, Plant and Equipment, Net | 876,522 | 882,768 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | 204,259 | 202,168 |
Premises and leasehold improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | 875,511 | 840,149 |
Furniture and Fixtures [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | $394,348 | $390,345 |
Premises_and_Equipment_Operati
Premises and Equipment (Operating Leases) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
Due 2014 | $17,181,000 | ' | ' |
Due 2015 | 13,004,000 | ' | ' |
Due 2016 | 8,539,000 | ' | ' |
Due 2017 | 5,969,000 | ' | ' |
Due 2018 | 4,574,000 | ' | ' |
Due thereafter | 41,554,000 | ' | ' |
Total minimum payments | 90,821,000 | ' | ' |
Rent expense, net | 21,400,000 | 23,600,000 | 24,700,000 |
Rent income | $1,800,000 | $1,700,000 | $1,700,000 |
Other_Real_Estate_Owned_Detail
Other Real Estate Owned (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Covered | ' | ' |
Beginning balance | $102,577 | $148,599 |
Additions | 59,034 | 105,059 |
Sales | -96,744 | -124,435 |
Writedowns | -17,786 | -26,646 |
Ending balance | 47,081 | 102,577 |
Noncovered | ' | ' |
Beginning balance | 43,513 | 50,399 |
Additions | 33,908 | 35,586 |
Sales | -36,168 | -33,564 |
Writedowns | -4,355 | -8,908 |
Ending balance | 36,898 | 43,513 |
Total | ' | ' |
Beginning balance | 146,090 | 198,998 |
Additions | 92,942 | 140,645 |
Sales | -132,912 | -157,999 |
Writedowns | -22,141 | -35,554 |
Ending balance | $83,979 | $146,090 |
FDIC_Indemnification_Asset_Cha
FDIC Indemnification Asset (Changes in Receivable from FDIC) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
FDIC Indemnification Asset [Roll Forward] | ' | ' | ' |
Beginning balance | $270,192 | $617,377 | $671,023 |
Additional receivable from acquisition | 0 | 0 | 316,932 |
Accretion of discounts and premiums, net | -85,651 | -102,394 | -32,960 |
Receipt of payments from FDIC | -19,373 | -251,972 | -293,067 |
Post-acquisition and other adjustments, net | -71,771 | 7,181 | -44,551 |
Ending balance | $93,397 | $270,192 | $617,377 |
Mortgage_Servicing_Rights_Deta
Mortgage Servicing Rights (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Mortgage Banking [Abstract] | ' | ' |
Servicing Asset at Amortized Cost | $16,000 | $1,784,000 |
Deposits_Details
Deposits (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Deposits, by Type [Abstract] | ' | ' |
Demand | $5,241,817,000 | $4,885,700,000 |
Checking With Interest | 2,445,972,000 | 2,363,317,000 |
Money market accounts | 6,306,942,000 | 6,357,309,000 |
Savings | 1,004,097,000 | 905,456,000 |
Time | 2,875,238,000 | 3,574,243,000 |
Total deposits | 17,874,066,000 | 18,086,025,000 |
Time Deposits, $100,000 or More | 1,270,000,000 | 1,610,000,000 |
Maturities of Time Deposits [Abstract] | ' | ' |
2014 | 1,920,998,000 | ' |
2015 | 532,711,000 | ' |
2016 | 296,073,000 | ' |
2017 | 87,179,000 | ' |
2018 | 38,277,000 | ' |
Thereafter | $0 | ' |
ShortTerm_Borrowings_Details
Short-Term Borrowings (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Short-term Debt [Line Items] | ' | ' |
Short-term borrowings | $511,418,000 | $568,505,000 |
Master Notes [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Short-term borrowings | 411,907,000 | 399,047,000 |
Repurchase Agreements [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Short-term borrowings | 96,960,000 | 111,907,000 |
Federal Home Loan Bank Advances [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Short-term borrowings | 0 | 55,000,000 |
Federal Funds Purchased [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Short-term borrowings | 2,551,000 | 2,551,000 |
Unsecured Debt [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity | 665,000,000 | ' |
Secured Debt [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity | $1,140,000,000 | ' |
LongTerm_Obligations_Details
Long-Term Obligations (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | Capital Lease Obligations [Member] | Capital Lease Obligations [Member] | Federal Home Loan Bank Advances [Member] | Federal Home Loan Bank Advances [Member] | Federal Home Loan Bank Advances [Member] | Federal Home Loan Bank Advances [Member] | Federal Home Loan Bank Advances [Member] | Federal Home Loan Bank Advances [Member] | Unamortized Acquisition Accounting Adjustments [Member] | Unamortized Acquisition Accounting Adjustments [Member] | Other Long Term Debt [Member] | Other Long Term Debt [Member] | ||
Junior Subordinanted Debenture at 3 Month Libor Plus 1.75% Maturing June 30, 2036 [Member] | Junior Subordinanted Debenture at 3 Month Libor Plus 1.75% Maturing June 30, 2036 [Member] | Junior Subordinanted Debenture at 3 Month Libor Plus 1.75% Maturing June 30, 2036 [Member] | Subordinated Notes Payable at 5.125% Maturing June 1, 2015 [Member] | Subordinated Notes Payable at 5.125% Maturing June 1, 2015 [Member] | Rates Ranging from 2.00% to 3.88% and Maturing Through September 2018 [Member] | Rates Ranging from 2.00% to 3.88% and Maturing Through September 2018 [Member] | Rates Ranging from 2.00% to 3.88% and Maturing Through September 2018 [Member] | Rates Ranging from 2.00% to 3.88% and Maturing Through September 2018 [Member] | Rates Ranging from 4.74% and Maturity of July 2017 [Member] | Rates Ranging from 4.74% and Maturity of July 2017 [Member] | |||||||||
3-month LIBOR [Member] | Minimum | Maximum | |||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt interest rate | ' | ' | ' | ' | ' | 5.13% | ' | ' | ' | ' | ' | 2.00% | 3.88% | 4.74% | ' | ' | ' | ' | ' |
Description of variable rate basis | ' | ' | ' | ' | '3-month LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis spread on variable rate | ' | ' | ' | ' | 1.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2014 | $2,908 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2015 | 205,422 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2016 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2017 | 11,005 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2018 | 121,444 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Thereafter | 169,990 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-term obligations | $510,769 | $444,921 | $96,392 | $96,392 | ' | $125,000 | $125,000 | $6,515 | $10,020 | $240,283 | $170,299 | ' | ' | $10,000 | $10,000 | $2,449 | $3,069 | $30,130 | $30,141 |
Estimated_Fair_Values_Estimate
Estimated Fair Values (Estimated Fair Values For Certain Financial Assets And Financial Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||
In Thousands, unless otherwise specified | ||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ||
Cash and due from banks | $533,599 | $639,730 | ' | ' | ||
Overnight investments | 859,324 | 443,180 | ' | ' | ||
Investment securities available for sale | 5,387,703 | 5,226,228 | ' | ' | ||
Investment securities held to maturity | 907 | 1,342 | ' | ' | ||
Loans held for sale | 47,271 | 86,333 | ' | ' | ||
FDIC Indemnification Asset | 93,397 | 270,192 | 617,377 | 671,023 | ||
Income earned not collected | 48,390 | 47,666 | ' | ' | ||
Stock issued by: | ' | ' | ' | ' | ||
Deposits | 17,874,066 | 18,086,025 | ' | ' | ||
Short-term borrowings | 511,418 | 568,505 | ' | ' | ||
Long-term obligations | 510,769 | 444,921 | ' | ' | ||
Payable to FDIC for loss share agreements | 109,378 | 101,641 | ' | ' | ||
Carrying Value | ' | ' | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ||
Cash and due from banks | 533,599 | 639,730 | ' | ' | ||
Overnight investments | 859,324 | 443,180 | ' | ' | ||
Investment securities available for sale | 5,387,703 | 5,226,228 | ' | ' | ||
Investment securities held to maturity | 907 | 1,342 | ' | ' | ||
Loans held for sale | 47,271 | 86,333 | ' | ' | ||
Loans covered by loss share agreements, net of allowance for loan and lease losses | 975,906 | 1,669,263 | ' | ' | ||
Loans and leases not covered by loss share agreements, net of allowance for loan and lease losses | 11,924,424 | 11,397,069 | ' | ' | ||
FDIC Indemnification Asset | 93,397 | [1] | 270,192 | [1] | ' | ' |
Income earned not collected | 48,390 | 47,666 | ' | ' | ||
Stock issued by: | ' | ' | ' | ' | ||
Preferred stock | 33,564 | 40,768 | ' | ' | ||
Deposits | 17,874,066 | 18,086,025 | ' | ' | ||
Short-term borrowings | 511,418 | 568,505 | ' | ' | ||
Long-term obligations | 510,769 | 444,921 | ' | ' | ||
Payable to FDIC for loss share agreements | 109,378 | 101,641 | ' | ' | ||
Accrued interest payable | 6,737 | 9,353 | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 7,220 | 10,398 | ' | ' | ||
Carrying Value | Investment In Federal Home Loan Bank Of Atlanta Stock | ' | ' | ' | ' | ||
Stock issued by: | ' | ' | ' | ' | ||
Stock issued by Federal Home Loan Bank | 30,813 | 36,139 | ' | ' | ||
Carrying Value | Investment In Federal Home Loan Bank Of San Francisco Stock | ' | ' | ' | ' | ||
Stock issued by: | ' | ' | ' | ' | ||
Stock issued by Federal Home Loan Bank | 5,756 | 10,107 | ' | ' | ||
Carrying Value | Investment In Federal Home Loan Bank Of Seattle Stock | ' | ' | ' | ' | ||
Stock issued by: | ' | ' | ' | ' | ||
Stock issued by Federal Home Loan Bank | 4,250 | 4,410 | ' | ' | ||
Fair Value | ' | ' | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ||
Cash and due from banks | 533,599 | 639,730 | ' | ' | ||
Overnight investments | 859,324 | 443,180 | ' | ' | ||
Investment securities available for sale | 5,387,703 | 5,226,228 | ' | ' | ||
Investment securities held to maturity | 974 | 1,448 | ' | ' | ||
Loans held for sale | 47,956 | 87,654 | ' | ' | ||
Loans covered by loss share agreements, net of allowance for loan and lease losses | 956,388 | 1,635,878 | ' | ' | ||
Loans and leases not covered by loss share agreements, net of allowance for loan and lease losses | 11,589,149 | 11,238,597 | ' | ' | ||
FDIC Indemnification Asset | 38,438 | [1] | 100,161 | [1] | ' | ' |
Income earned not collected | 48,390 | 47,666 | ' | ' | ||
Stock issued by: | ' | ' | ' | ' | ||
Preferred stock | 34,786 | 40,793 | ' | ' | ||
Deposits | 17,898,570 | 18,126,893 | ' | ' | ||
Short-term borrowings | 511,418 | 568,505 | ' | ' | ||
Long-term obligations | 526,037 | 472,642 | ' | ' | ||
Payable to FDIC for loss share agreements | 111,941 | 111,679 | ' | ' | ||
Accrued interest payable | 6,737 | 9,353 | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 7,220 | 10,398 | ' | ' | ||
Fair Value | Investment In Federal Home Loan Bank Of Atlanta Stock | ' | ' | ' | ' | ||
Stock issued by: | ' | ' | ' | ' | ||
Stock issued by Federal Home Loan Bank | 30,813 | 36,139 | ' | ' | ||
Fair Value | Investment In Federal Home Loan Bank Of San Francisco Stock | ' | ' | ' | ' | ||
Stock issued by: | ' | ' | ' | ' | ||
Stock issued by Federal Home Loan Bank | 5,756 | 10,107 | ' | ' | ||
Fair Value | Investment In Federal Home Loan Bank Of Seattle Stock | ' | ' | ' | ' | ||
Stock issued by: | ' | ' | ' | ' | ||
Stock issued by Federal Home Loan Bank | $4,250 | $4,410 | ' | ' | ||
[1] | The fair value of the FDIC receivable excludes receivable related to accretable yield to be amortized in prospective periods. |
Estimated_Fair_Values_Narrativ
Estimated Fair Values (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Estimated Fair Values [Line Items] | ' | ' |
Investment securities available for sale | $5,387,703 | $5,226,228 |
Liability transfers between Level 1 and Level 2 | 0 | 0 |
Asset transfers between Level 1 and Level 2 | 0 | 0 |
Liability transfers between Level 2 and Level 1 | 0 | 0 |
Asset transfers between Level 2 and Level 1 | 0 | 0 |
Fair value of investment securities with nonobservable inputs | 0 | 0 |
Fair Value, Measurements, Recurring | ' | ' |
Estimated Fair Values [Line Items] | ' | ' |
Liability measured at fair value on nonrecurring basis | 0 | 0 |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | ' | ' |
Estimated Fair Values [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Fair Value | ' | ' |
Estimated Fair Values [Line Items] | ' | ' |
Investment securities available for sale | $5,387,703 | $5,226,228 |
Minimum | ' | ' |
Estimated Fair Values [Line Items] | ' | ' |
Discounts for collateral value estimates due to estimated holding and selling costs (percent) | 10.00% | ' |
Maximum | ' | ' |
Estimated Fair Values [Line Items] | ' | ' |
Discounts for collateral value estimates due to estimated holding and selling costs (percent) | 14.00% | ' |
Estimated_Fair_Values_Assets_A
Estimated Fair Values (Assets And Liabilities Carried At Fair Value On A Recurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | $5,387,703 | $5,226,228 |
Fair Value, Measurements, Recurring | Fair Value | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 5,387,703 | 5,226,228 |
Interest rate swaps accounted for as cash flow hedges | 7,220 | 10,398 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Interest rate swaps accounted for as cash flow hedges | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 5,387,703 | 5,226,228 |
Interest rate swaps accounted for as cash flow hedges | 7,220 | 10,398 |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Interest rate swaps accounted for as cash flow hedges | 0 | 0 |
Fair Value, Measurements, Recurring | U.S. Treasury | Fair Value | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 373,437 | 823,632 |
Fair Value, Measurements, Recurring | U.S. Treasury | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | U.S. Treasury | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 373,437 | 823,632 |
Fair Value, Measurements, Recurring | U.S. Treasury | Fair Value, Inputs, Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Government Agency | Fair Value | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 2,544,229 | 3,055,204 |
Fair Value, Measurements, Recurring | Government Agency | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Government Agency | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 2,544,229 | 3,055,204 |
Fair Value, Measurements, Recurring | Government Agency | Fair Value, Inputs, Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Mortgage Backed Securities, Other [Member] | Fair Value | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 2,446,873 | 1,329,657 |
Fair Value, Measurements, Recurring | Mortgage Backed Securities, Other [Member] | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Mortgage Backed Securities, Other [Member] | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 2,446,873 | 1,329,657 |
Fair Value, Measurements, Recurring | Mortgage Backed Securities, Other [Member] | Fair Value, Inputs, Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Other Debt Obligations | Fair Value | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 830 | 820 |
Fair Value, Measurements, Recurring | Other Debt Obligations | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Other Debt Obligations | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 830 | 820 |
Fair Value, Measurements, Recurring | Other Debt Obligations | Fair Value, Inputs, Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Equity Securities | Fair Value | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 22,147 | 16,365 |
Fair Value, Measurements, Recurring | Equity Securities | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Equity Securities | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 22,147 | 16,365 |
Fair Value, Measurements, Recurring | Equity Securities | Fair Value, Inputs, Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | State, County, Municipal | Fair Value | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 187 | 550 |
Fair Value, Measurements, Recurring | State, County, Municipal | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | State, County, Municipal | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 187 | 550 |
Fair Value, Measurements, Recurring | State, County, Municipal | Fair Value, Inputs, Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | $0 | $0 |
Estimated_Fair_Values_Assets_A1
Estimated Fair Values (Assets And Liabilities Carried At Fair Value On A Nonrecurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Real Estate Acquired Through Foreclosure | $36,898 | $43,513 | $50,399 |
Covered under loss share agreements in other real estate owned | 47,081 | 102,577 | 148,599 |
Fair Value, Measurements, Nonrecurring | Fair Value | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Loans held for sale | 29,389 | 65,244 | ' |
Impaired loans not covered by loss share agreements | 73,517 | 51,644 | ' |
Real Estate Acquired Through Foreclosure | 20,526 | 21,113 | ' |
Covered under loss share agreements in other real estate owned | 37,587 | 59,545 | ' |
Fair Value, Measurements, Nonrecurring | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Loans held for sale | 0 | 0 | ' |
Impaired loans not covered by loss share agreements | 0 | 0 | ' |
Real Estate Acquired Through Foreclosure | 0 | 0 | ' |
Covered under loss share agreements in other real estate owned | 0 | 0 | ' |
Fair Value, Measurements, Nonrecurring | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Loans held for sale | 29,389 | 65,244 | ' |
Impaired loans not covered by loss share agreements | 0 | 0 | ' |
Real Estate Acquired Through Foreclosure | 0 | 0 | ' |
Covered under loss share agreements in other real estate owned | 0 | 0 | ' |
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3 | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Loans held for sale | 0 | 0 | ' |
Impaired loans not covered by loss share agreements | 73,517 | 51,644 | ' |
Real Estate Acquired Through Foreclosure | 20,526 | 21,113 | ' |
Covered under loss share agreements in other real estate owned | $37,587 | $61,026 | ' |
Employee_Benefit_Plans_Narrati
Employee Benefit Plans (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Contribution Plan, Cost Recognized | $14,900,000 | $14,100,000 | $13,600,000 |
Return On Plan Assets Over Last 15 Years | 6.99% | ' | ' |
Employer contributions | $0 | $0 | ' |
Assumed discount rate (percent) | 4.00% | 4.75% | 5.50% |
Assumed rate of salary increases | 4.00% | 4.00% | 4.50% |
Expected long-term rate of return on plan assets (percent) | 7.25% | 7.50% | 7.75% |
Return On Plan Assets Over Last 10 Years | 8.39% | ' | ' |
Return Plan Assets Over Last 5 Years | 13.37% | ' | ' |
Percent Of Employee Contribution Match To 401 K | 75.00% | ' | ' |
Employee_Benefit_Plans_Funded_
Employee Benefit Plans (Funded Status Of Plans) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' |
Benefit obligation at January 1 | $580,938 | $493,648 |
Service cost | ' | 14,241 |
Interest cost | ' | 23,711 |
Actuarial (gain) loss | -74,060 | 64,540 |
Benefits paid | -16,218 | -15,202 |
Benefit obligation at December 31 | 530,678 | 580,938 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value of plan assets, beginning balance | 463,005 | 429,505 |
Actual return on plan assets | 77,230 | 48,702 |
Employer contributions | 0 | 0 |
Benefits paid | -16,218 | -15,202 |
Fair value of plan assets, ending balance | 524,017 | 463,005 |
Funded status | ($6,661) | ($117,933) |
Employee_Benefit_Plans_Amounts
Employee Benefit Plans (Amounts Recognized in the Financial Statements) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Amounts recognized in the consolidated balance sheets | ' | ' |
Other assets | $0 | $0 |
Other liabilities | -6,661 | -117,933 |
Net asset (liability) recognized | -6,661 | -117,933 |
Amount recognized in accumulated other comprehensive income | ' | ' |
Net loss (gain) | 16,605 | 157,147 |
Less prior service cost | 977 | 1,187 |
Accumulated other comprehensive loss, excluding income taxes | 17,582 | 158,334 |
Actuarial loss | 6,184 | ' |
Prior service cost | 210 | ' |
Total | $6,394 | ' |
Employee_Benefit_Plans_Net_Ben
Employee Benefit Plans (Net Benefit Cost) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Service cost | ' | $14,241 | ' |
Interest cost | ' | 23,711 | ' |
Total change in pension obligation, net of tax | 17,195 | 11,236 | 7,071 |
Defined Benefit Pension | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Service cost | 16,332 | 14,241 | 13,265 |
Interest cost | 23,686 | 23,711 | 23,810 |
Expected return on assets | -27,733 | -28,478 | -29,184 |
Amortization of prior service cost | -210 | -210 | -210 |
Amortization of net actuarial loss | 16,985 | 11,026 | 6,861 |
Total pension expense | 29,480 | 20,710 | 14,962 |
Current year actuarial gain (loss) | 123,557 | -44,315 | -58,630 |
Total change in pension obligation, net of tax | -140,752 | 33,079 | 51,559 |
Total recognized in net periodic benefit cost and other comprehensive income | ($111,272) | $53,789 | $66,521 |
Employee_Benefit_Plans_Assumpt
Employee Benefit Plans (Assumptions Used) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Assumptions used to determine the benefit obligations | ' | ' | ' |
Rate of compensation increase | 4.00% | 4.00% | ' |
Assumptions used to determine net periodic benefit cost | ' | ' | ' |
Discount rate | 4.00% | 4.75% | 5.50% |
Rate of compensation increase | 4.00% | 4.00% | 4.50% |
Expected long-term rate of return on plan assets (percent) | 7.25% | 7.50% | 7.75% |
Employee_Benefit_Plans_Fair_Va
Employee Benefit Plans (Fair Value and Allocation Of Plan Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Fair Value | Fair Value | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Cash and Cash Equivalents | Cash and Cash Equivalents | Cash and Cash Equivalents | Cash and Cash Equivalents | Cash and Cash Equivalents | Cash and Cash Equivalents | Cash and Cash Equivalents | Cash and Cash Equivalents | Cash and Cash Equivalents | Cash and Cash Equivalents | Cash and Cash Equivalents | Cash and Cash Equivalents | Cash and Cash Equivalents | Cash and Cash Equivalents | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Equity Securities | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Fixed Income Investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | Alternative investments | |||
Minimum | Minimum | Maximum | Maximum | Fair Value | Fair Value | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Minimum | Minimum | Maximum | Maximum | Large capitalization | Large capitalization | Large capitalization | Large capitalization | Large capitalization | Large capitalization | Large capitalization | Large capitalization | Middle capitalization | Middle capitalization | Middle capitalization | Middle capitalization | Middle capitalization | Middle capitalization | Middle capitalization | Middle capitalization | Small capitalization | Small capitalization | Small capitalization | Small capitalization | Small capitalization | Small capitalization | Small capitalization | Small capitalization | International equity (developed) | International equity (developed) | International equity (developed) | International equity (developed) | International equity (developed) | International equity (developed) | International equity (developed) | International equity (developed) | International equity (emerging) | International equity (emerging) | International equity (emerging) | International equity (emerging) | International equity (emerging) | International equity (emerging) | International equity (emerging) | International equity (emerging) | Minimum | Minimum | Maximum | Maximum | Investment grade bonds | Investment grade bonds | Investment grade bonds | Investment grade bonds | Investment grade bonds | Investment grade bonds | Investment grade bonds | Investment grade bonds | Intermediate bonds | Intermediate bonds | Intermediate bonds | Intermediate bonds | Intermediate bonds | Intermediate bonds | Intermediate bonds | Intermediate bonds | High-yield corporate bonds | High-yield corporate bonds | High-yield corporate bonds | High-yield corporate bonds | High-yield corporate bonds | High-yield corporate bonds | High-yield corporate bonds | High-yield corporate bonds | U. S. Treasury | U. S. Treasury | U. S. Treasury | U. S. Treasury | U. S. Treasury | U. S. Treasury | U. S. Treasury | U. S. Treasury | International emerging bond | International emerging bond | International emerging bond | International emerging bond | International emerging bond | International emerging bond | International emerging bond | International emerging bond | Minimum | Minimum | Maximum | Maximum | Commodities Investment | Commodities Investment | Commodities Investment | Commodities Investment | Commodities Investment | Commodities Investment | Commodities Investment | Commodities Investment | Hedge Funds | Hedge Funds | Hedge Funds | Hedge Funds | Hedge Funds | Hedge Funds | Hedge Funds | Hedge Funds | ||||||||||||||||||||
Fair Value | Fair Value | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value | Fair Value | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value | Fair Value | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value | Fair Value | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value | Fair Value | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value | Fair Value | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value | Fair Value | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value | Fair Value | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value | Fair Value | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value | Fair Value | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value | Fair Value | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value | Fair Value | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Plan assets | $524,017 | $463,005 | $429,505 | $524,017 | $463,005 | $380,540 | $304,132 | $143,477 | $158,873 | $0 | $0 | ' | ' | ' | ' | ' | ' | $2,517 | $3,088 | $2,517 | $3,088 | $0 | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' | $218,023 | $172,512 | $218,023 | $172,512 | $0 | $0 | $0 | $0 | $10,724 | $21,451 | $10,724 | $21,451 | $0 | $0 | $0 | $0 | $43,928 | $31,053 | $43,928 | $31,053 | $0 | $0 | $0 | $0 | $10,535 | $9,537 | $10,535 | $9,537 | $0 | $0 | $0 | $0 | $40,643 | $24,276 | $40,643 | $24,276 | $0 | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' | $74,501 | $71,986 | $0 | $0 | $74,501 | $71,986 | $0 | $0 | $48,746 | $59,052 | $0 | $0 | $48,746 | $59,052 | $0 | $0 | $10,111 | $18,487 | $0 | $0 | $10,111 | $18,487 | $0 | $0 | $4,395 | $7,613 | $4,395 | $7,613 | $0 | $0 | $0 | $0 | $10,119 | $9,348 | $0 | $0 | $10,119 | $9,348 | $0 | $0 | ' | ' | ' | ' | ' | ' | $19,014 | $17,376 | $19,014 | $17,376 | $0 | $0 | $0 | $0 | $30,761 | $17,226 | $30,761 | $17,226 | ' | ' | $0 | $0 |
Cash and equivalents Target Allocation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | 1.00% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55.00% | 55.00% | 65.00% | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | 36.00% | 40.00% | 44.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | 10.00% | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and equivalents Actual % of Plan Assets | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62.00% | 56.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28.00% | 36.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee_Benefit_Plans_Project
Employee Benefit Plans (Projected Benefit Payments) (Details) (USD $) | 3 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' | ' |
Defined Benefit Plan, Accumulated Benefit Obligation | $448,716,000 | $485,641,000 |
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | 0 | ' |
2014 | 18,070,000 | ' |
2015 | 19,662,000 | ' |
2016 | 21,484,000 | ' |
2017 | 23,244,000 | ' |
2018 | 24,937,000 | ' |
2019-2023 | $150,638,000 | ' |
Employee_Benefit_Plans_Present
Employee Benefit Plans (Present Value of Accrued Liability) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Present Value Of Accrued Liabilitiy [Roll Forward] | ' | ' |
Benefits paid | ($16,218) | ($15,202) |
Interest cost | ' | 23,711 |
Executives Directors And Officer Of Acquired Entities [Member] | ' | ' |
Present Value Of Accrued Liabilitiy [Roll Forward] | ' | ' |
Present value of accrued liability as of January 1 | 25,851 | 25,586 |
Benefit expense | 959 | 462 |
Benefits paid | -3,042 | -3,241 |
Benefits forfeited | 0 | 554 |
Interest cost | 192 | 2,490 |
Present value of accrued liability as of December 31 | $23,960 | $25,851 |
Discount rate | 4.90% | 4.00% |
Other_Noninterest_Income_and_O2
Other Noninterest Income and Other Noninterest Expense (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Other Operating Cost and Expense [Line Items] | ' | ' | ' |
Other Noninterest Expense | $193,388,000 | $179,811,000 | $204,936,000 |
Acquired Loans | ' | ' | ' |
Other Operating Cost and Expense [Line Items] | ' | ' | ' |
Proceeds from Recoveries of Loans Previously Charged off | 29,700,000 | 10,500,000 | 13,500,000 |
Telecommunication | ' | ' | ' |
Other Operating Cost and Expense [Line Items] | ' | ' | ' |
Other Noninterest Expense | 10,033,000 | 11,131,000 | 12,131,000 |
Cardholder Reward Programs | ' | ' | ' |
Other Operating Cost and Expense [Line Items] | ' | ' | ' |
Other Noninterest Expense | 10,154,000 | 4,325,000 | 11,780,000 |
Processing Fees Paid To Third Parties | ' | ' | ' |
Other Operating Cost and Expense [Line Items] | ' | ' | ' |
Other Noninterest Expense | 15,095,000 | 14,454,000 | 16,336,000 |
Cardholder Processing | ' | ' | ' |
Other Operating Cost and Expense [Line Items] | ' | ' | ' |
Other Noninterest Expense | 9,892,000 | 11,816,000 | 11,418,000 |
Merchant Processing | ' | ' | ' |
Other Operating Cost and Expense [Line Items] | ' | ' | ' |
Other Noninterest Expense | 35,279,000 | 33,313,000 | 37,196,000 |
Collection | ' | ' | ' |
Other Operating Cost and Expense [Line Items] | ' | ' | ' |
Other Noninterest Expense | 21,209,000 | 25,591,000 | 23,237,000 |
Consultant | ' | ' | ' |
Other Operating Cost and Expense [Line Items] | ' | ' | ' |
Other Noninterest Expense | 9,740,000 | 3,915,000 | 3,021,000 |
Advertising | ' | ' | ' |
Other Operating Cost and Expense [Line Items] | ' | ' | ' |
Other Noninterest Expense | 8,286,000 | 3,897,000 | 7,957,000 |
Other Expense | ' | ' | ' |
Other Operating Cost and Expense [Line Items] | ' | ' | ' |
Other Noninterest Expense | $73,700,000 | $71,369,000 | $81,860,000 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current tax expense | ' | ' | ' |
Federal | $41,996 | $85,875 | $108,639 |
State | 7,080 | 9,212 | 23,101 |
Total current tax expense | 49,076 | 95,087 | 131,740 |
Deferred Income Tax Expense (Benefit) | ' | ' | ' |
Federal | 38,974 | -27,344 | -12,127 |
State | 8,915 | -7,921 | -4,510 |
Total deferred tax expense (benefit) | 47,889 | -35,265 | -16,637 |
Total income tax expense | 96,965 | 59,822 | 115,103 |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | ' | ' | ' |
Federal statutory rate | 35.00% | ' | ' |
Income taxes at statutory rates | 92,633 | 67,959 | 108,546 |
Increase (reduction) in income taxes resulting from: [Abstract] | ' | ' | ' |
Nontaxable income on loans, leases and investments, net of nondeductible expenses | -1,185 | -1,309 | -1,481 |
State and local income taxes, including change in valuation allowance, net of federal income tax benefit | 10,397 | 839 | 12,084 |
Tax credits | -5,569 | -7,279 | -5,166 |
Other, net | 689 | -388 | 1,120 |
Total income tax expense | 96,965 | 59,822 | 115,103 |
Income tax expense reduction, resulting from favorable outcome of state tax audits | ' | 6,449 | ' |
Deferred Tax Assets, Net [Abstract] | ' | ' | ' |
Allowance for loan and lease losses | 90,790 | 124,928 | ' |
Pension liability | 2,593 | 46,178 | ' |
Executive separation from service agreements | 9,940 | 10,123 | ' |
State operating loss carryforwards | 79 | 652 | ' |
Unrealized loss on cash flow hedge | 2,786 | 4,106 | ' |
Net unrealized loss on securities included in accumulated other comprehensive loss | 6,541 | 0 | ' |
Other | 17,884 | 19,465 | ' |
Gross deferred tax asset | 130,613 | 205,452 | ' |
Accelerated depreciation | 6,226 | 12,465 | ' |
Lease financing activities | 10,216 | 10,366 | ' |
Net unrealized gains on securities included in accumulated other comprehensive loss | 0 | 13,292 | ' |
Net deferred loan fees and costs | 4,115 | 3,714 | ' |
Intangible assets | 11,929 | 11,897 | ' |
Gain on FDIC-assisted transactions, deferred for tax purposes | 57,895 | 29,694 | ' |
Other | 6,352 | 5,373 | ' |
Deferred tax liability | 96,733 | 86,801 | ' |
Net deferred tax assets | $33,880 | $118,651 | ' |
Transactions_with_Related_Pers2
Transactions with Related Persons (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Loans and Leases Receivable, Related Parties [Roll Forward] | ' | ' | ' |
Beginning balance | $1,311,000 | ' | ' |
New loans | 605,000 | ' | ' |
Repayments | -91,000 | ' | ' |
Ending balance | 1,825,000 | 1,311,000 | ' |
Unfunded Loan Commitments Available To Related Parties | 5,500,000 | 4,400,000 | ' |
Revenue from Related Parties | 21,600,000 | 33,700,000 | 34,500,000 |
Revenue From Largest Individual Institution Related Parties | 20,400,000 | 22,800,000 | 23,500,000 |
Investment Securities Available For Sale Related Parties | 21,600,000 | 16,100,000 | ' |
Investment Cost Related Parties | $452,000 | $452,000 | ' |
Derivatives_Narrative_Details
Derivatives (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative [Line Items] | ' | ' | ' |
Fair value of collateral pledged to secure interest rate contracts | $7,004 | $9,656 | ' |
Incremental interest expense paid to interest rate swap counterparties | 3,281 | 3,095 | 4,577 |
Interest Rate Swap | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Gain (loss) expected to be reclassified in next 12 months | -1,920 | ' | ' |
2011 Interest Rate Swap | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Notional amount of interest rate derivatives | $93,500 | ' | ' |
Fixed rate payments, interest rate | 5.50% | ' | ' |
Variable rate payment rate | 1.75% | ' | ' |
2006 Interest Rate Swap | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Variable rate payment rate | 1.75% | ' | ' |
2009 Interest Rate Swap | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Variable rate payment rate | 1.75% | ' | ' |
Derivatives_Schedule_Of_Intere
Derivatives (Schedule Of Interest Rate Swaps) (Details) (2011 Interest Rate Swap, USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
2011 Interest Rate Swap | ' | ' |
Derivative [Line Items] | ' | ' |
Estimated fair value of liability | $7,220 | $10,398 |
Derivative, Notional Amount | $93,500 | $93,500 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' |
Goodwill | $102,625 | $102,625 |
Useful life | '4 years | ' |
Finite-lived Intangible Assets [Roll Forward] | ' | ' |
Beginning balance | 3,556 | 7,032 |
Amortization | -2,309 | -3,476 |
Ending balance | 1,247 | 3,556 |
Finite-Lived Intangible Assets [Abstract] | ' | ' |
Gross balance | 18,966 | 18,966 |
Accumulated amortization | -17,719 | -15,410 |
Carrying value | 1,247 | 3,556 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ' | ' |
2014 | 1,122 | ' |
2015 | 125 | ' |
Carrying value | $1,247 | $3,556 |
Shareholders_Equity_Dividends_2
Shareholders' Equity, Dividends Restrictions and Other Regulatory Matters (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Tier 1 Risk Based Capital to Risk Weighted Assets | 14.26% | ' | ' |
Tier 1 Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.00% | ' | ' |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | ' | ' |
Leverage Capital Required Ratio To Tangible Assets | 3.00% | ' | ' |
Trust Preferred Securities | $93,500,000 | ' | ' |
Percent Of Trust Preferred Securities Excluded From Tier One Starting In 2013 | 75.00% | ' | ' |
Proforma Tier 1 Leverage Ratio | 9.38% | ' | ' |
Proforma Tier 1 Risk Based Ratio | 14.26% | ' | ' |
Proforma Total Risk Based Ratio | 15.76% | ' | ' |
Tier 2 capital | 25,000,000 | 50,000,000 | ' |
Stock Repurchased During Period, Shares | 0 | ' | ' |
Amount Available for Dividend Distribution without Prior Approval from Regulatory Agency | 1,410,000,000 | ' | ' |
Maximum Undivided Profits Elgible For Dividend Payment Without Changing Well Capitalized Status | 781,300,000 | ' | ' |
Average Required Maintence Of Non Interst Bearing Reserve Balance | 313,400,000 | ' | ' |
Common Class A [Member] | ' | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Votes per share of common stock | 1 | ' | ' |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 100,000 | 100,000 | ' |
Stock Repurchased During Period, Shares | ' | 56,276 | ' |
Class B Common Stock | ' | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Votes per share of common stock | 16 | ' | ' |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 25,000 | 25,000 | ' |
Stock Repurchased During Period, Shares | 0 | 100 | ' |
Stock Repurchased and Retired During Period, Shares | ' | 606,829 | ' |
Class B Common Stock | Majority Shareholder [Member] | ' | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Stock Repurchased and Retired During Period, Shares | ' | 593,954 | ' |
BancShares [Member] | ' | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Tier 1 Capital for Capital Adequacy | 2,109,139,000 | 1,949,985,000 | ' |
Capital Required for Capital Adequacy | 2,320,792,000 | 2,179,370,000 | ' |
Leverage Capital Required for Capital Adequacy | 2,109,139,000 | 1,949,985,000 | ' |
Tier 1 Risk Based Capital to Risk Weighted Assets | 14.92% | 14.27% | ' |
Capital to Risk Weighted Assets | 16.42% | 15.95% | ' |
Leverage Capital to Average Assets | 9.82% | 9.23% | ' |
Tier 1 Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.00% | 6.00% | ' |
Capital Required to be Well Capitalized | 10.00% | 10.00% | ' |
Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% | ' |
FCB [Member] | ' | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Tier 1 Capital for Capital Adequacy | 1,983,349,000 | 1,942,101,000 | ' |
Capital Required for Capital Adequacy | 2,184,461,000 | 2,163,034,000 | ' |
Leverage Capital Required for Capital Adequacy | 1,983,349,000 | 1,942,101,000 | ' |
Tier 1 Risk Based Capital to Risk Weighted Assets | 14.14% | 14.37% | ' |
Capital to Risk Weighted Assets | 15.57% | 16.00% | ' |
Leverage Capital to Average Assets | 9.36% | 9.34% | ' |
Tier 1 Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.00% | 6.00% | ' |
Capital Required to be Well Capitalized | 10.00% | 10.00% | ' |
Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% | ' |
Parent [Member] | ' | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Dividends from subsidiaries | $131,006,000 | $179,588,000 | $82,812,000 |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Guarantor Obligations [Line Items] | ' | ' |
Payable to FDIC for loss share agreements | $109,378,000 | $101,641,000 |
Commitments to Extend Credit | ' | ' |
Guarantor Obligations [Line Items] | ' | ' |
Unused commitments | 5,840,000,000 | 5,470,000,000 |
Standby Letters of Credit | ' | ' |
Guarantor Obligations [Line Items] | ' | ' |
Guarantor obligations amount | 54,811,000 | 63,085,000 |
Recourse Obligation on Mortgage Loans Sold | ' | ' |
Guarantor Obligations [Line Items] | ' | ' |
Guarantor obligations amount | 156,079,000 | 205,888,000 |
Recourse Period, Maximum1 | '120 days | ' |
Obligation to Repurchase Receivables Sold | ' | ' |
Guarantor Obligations [Line Items] | ' | ' |
Reserve for estimated losses arising from repurchase of loans | $3,641,000 | $4,065,000 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss (Schedule Of Accumulated Other Comprehensive Income) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Accumulated Other Comprehensive Income (Loss), before Tax | ($41,434) | ($134,923) | ' | |||
Long-term obligations | 740,186 | 914,688 | 870,967 | |||
Deferred tax expense (benefit) | -16,166 | -52,817 | ' | |||
Accumulated other comprehensive income (loss), net of tax | -25,268 | -82,106 | -66,574 | |||
Income taxes | -96,965 | -59,822 | -115,103 | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -12,424 | [1] | -7,304 | [1] | ' | |
Securities gains (losses) | 0 | 2,277 | -288 | |||
Unrealized Gains on Investment Securities Available for Sale | ' | ' | ' | |||
Accumulated Other Comprehensive Income (Loss), before Tax | -16,632 | 33,809 | ' | |||
Deferred tax expense (benefit) | -6,541 | 13,292 | ' | |||
Accumulated other comprehensive income (loss), net of tax | -10,091 | [2] | 20,517 | [2] | 16,115 | [2] |
Income taxes | 0 | [1] | -917 | [1] | ' | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | [1],[2] | 1,405 | [1],[2] | ' | |
Securities gains (losses) | 0 | [1] | 2,322 | [1] | ' | |
Funded Status of Defined Benefit Plan | ' | ' | ' | |||
Accumulated Other Comprehensive Income (Loss), before Tax | -17,582 | -158,334 | ' | |||
Deferred tax expense (benefit) | -6,839 | -62,003 | ' | |||
Accumulated other comprehensive income (loss), net of tax | -10,743 | [2] | -96,331 | [2] | -76,206 | [2] |
Income taxes | 6,689 | [1] | 4,400 | [1] | ' | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -10,506 | [1],[2] | -6,836 | [1],[2] | ' | |
Employee Benefits, prior service costs | -210 | [1] | -210 | [1] | ' | |
Reclassification adjustment for losses included in income before income taxes | -16,985 | [1] | -11,026 | [1] | ' | |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, before Tax | -17,195 | -11,236 | [1] | ' | ||
Unrealized Loss on Cash Flow Hedges | ' | ' | ' | |||
Accumulated Other Comprehensive Income (Loss), before Tax | -7,220 | -10,398 | ' | |||
Long-term obligations | -3,281 | [1] | -3,095 | [1] | ' | |
Deferred tax expense (benefit) | -2,786 | -4,106 | ' | |||
Accumulated other comprehensive income (loss), net of tax | -4,434 | [2] | -6,292 | [2] | -6,483 | [2] |
Income taxes | 1,363 | [1] | 1,222 | [1] | ' | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | ($1,918) | [1],[2] | ($1,873) | [1],[2] | ' | |
[1] | 1 Amounts in parentheses indicate debits to profit/loss. | |||||
[2] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Loss (Components of AOCI) (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ||
Beginning balance | ($82,106) | ($66,574) | ' | ||
Other comprehensive income (loss) before reclassifications | 44,414 | -22,836 | ' | ||
Amounts reclassified from accumulated other comprehensive loss | 12,424 | [1] | 7,304 | [1] | ' |
Net current period other comprehensive income (loss) | 56,838 | -15,532 | -30,045 | ||
Ending balance | -25,268 | -82,106 | -66,574 | ||
Unrealized Loss on Cash Flow Hedges | ' | ' | ' | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ||
Beginning balance | -6,292 | [2] | -6,483 | [2] | ' |
Other comprehensive income (loss) before reclassifications | -60 | [2] | -1,682 | [2] | ' |
Amounts reclassified from accumulated other comprehensive loss | 1,918 | [1],[2] | 1,873 | [1],[2] | ' |
Net current period other comprehensive income (loss) | 1,858 | [2] | 191 | [2] | ' |
Ending balance | -4,434 | [2] | -6,292 | [2] | ' |
Unrealized Gains on Investment Securities Available for Sale | ' | ' | ' | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ||
Beginning balance | 20,517 | [2] | 16,115 | [2] | ' |
Other comprehensive income (loss) before reclassifications | -30,608 | [2] | 5,807 | [2] | ' |
Amounts reclassified from accumulated other comprehensive loss | 0 | [1],[2] | -1,405 | [1],[2] | ' |
Net current period other comprehensive income (loss) | -30,608 | [2] | 4,402 | [2] | ' |
Ending balance | -10,091 | [2] | 20,517 | [2] | ' |
Defined Benefit Pension Items | ' | ' | ' | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ||
Beginning balance | -96,331 | [2] | -76,206 | [2] | ' |
Other comprehensive income (loss) before reclassifications | 75,082 | [2] | -26,961 | [2] | ' |
Amounts reclassified from accumulated other comprehensive loss | 10,506 | [1],[2] | 6,836 | [1],[2] | ' |
Net current period other comprehensive income (loss) | 85,588 | [2] | -20,125 | [2] | ' |
Ending balance | ($10,743) | [2] | ($96,331) | [2] | ' |
[1] | 1 Amounts in parentheses indicate debits to profit/loss. | ||||
[2] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Accumulated_Other_Comprehensiv4
Accumulated Other Comprehensive Loss (Reclassifications out of AOCI) (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ||
Long-term obligations | $740,186 | $914,688 | $870,967 | ||
Securities gains (losses) | 0 | 2,277 | -288 | ||
Income taxes | -96,965 | -59,822 | -115,103 | ||
Amounts reclassified from accumulated other comprehensive income, net of tax | 12,424 | [1] | 7,304 | [1] | ' |
Unrealized Loss on Cash Flow Hedges | ' | ' | ' | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ||
Long-term obligations | -3,281 | [1] | -3,095 | [1] | ' |
Income taxes | 1,363 | [1] | 1,222 | [1] | ' |
Amounts reclassified from accumulated other comprehensive income, net of tax | 1,918 | [1],[2] | 1,873 | [1],[2] | ' |
Unrealized Gains on Investment Securities Available for Sale | ' | ' | ' | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ||
Securities gains (losses) | 0 | [1] | 2,322 | [1] | ' |
Income taxes | 0 | [1] | -917 | [1] | ' |
Amounts reclassified from accumulated other comprehensive income, net of tax | 0 | [1],[2] | -1,405 | [1],[2] | ' |
Defined Benefit Pension Items | ' | ' | ' | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ||
Employee Benefits, prior service costs | -210 | [1] | -210 | [1] | ' |
Reclassification adjustment for losses included in income before income taxes | -16,985 | [1] | -11,026 | [1] | ' |
Total before taxes | -17,195 | -11,236 | [1] | ' | |
Income taxes | 6,689 | [1] | 4,400 | [1] | ' |
Amounts reclassified from accumulated other comprehensive income, net of tax | $10,506 | [1],[2] | $6,836 | [1],[2] | ' |
[1] | 1 Amounts in parentheses indicate debits to profit/loss. | ||||
[2] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Subsequent_Events_Details
Subsequent Events (Details) (Subsequent Event, 1st Financial, USD $) | 0 Months Ended |
Jan. 02, 2014 | |
Subsequent Event [Line Items] | ' |
Consideration transferred | $10,000,000 |
Cash and cash equivalents | 28,194,000 |
Investment securities available for sale | 237,438,000 |
Loans held for sale | 1,183,000 |
Restricted equity securities | 3,776,000 |
Loans | 316,327,000 |
Less: allowance for loan losses | 0 |
Premises and equipment | 2,686,000 |
Other real estate owned | 11,591,000 |
Other assets | 16,346,000 |
Intangible asset | 3,780,000 |
Total assets acquired | 621,321,000 |
Noninterest-bearing | 152,444,000 |
Interest-bearing | 479,427,000 |
Total deposits | 631,871,000 |
Federal Funds purchased | 406,000 |
Other liabilities | 3,559,000 |
Total liabilities assumed | 635,836,000 |
Net assets acquired | -14,515,000 |
Cash paid to shareholders | -2,000,000 |
Cash paid to acquire TARP securities | -8,000,000 |
Goodwill recorded for 1st Financial | -24,515,000 |
Minimum | ' |
Subsequent Event [Line Items] | ' |
Estimated merger costs | 6,000,000 |
Maximum | ' |
Subsequent Event [Line Items] | ' |
Estimated merger costs | 7,000,000 |
As recorded by 1st Financial | ' |
Subsequent Event [Line Items] | ' |
Cash and cash equivalents | 28,194,000 |
Investment securities available for sale | 246,890,000 |
Loans held for sale | 1,183,000 |
Restricted equity securities | 3,105,000 |
Loans | 338,170,000 |
Less: allowance for loan losses | -7,796,000 |
Premises and equipment | 3,871,000 |
Other real estate owned | 12,896,000 |
Other assets | 16,811,000 |
Intangible asset | 0 |
Total assets acquired | 643,324,000 |
Noninterest-bearing | 152,444,000 |
Interest-bearing | 477,881,000 |
Total deposits | 630,325,000 |
Federal Funds purchased | 406,000 |
Other liabilities | 3,392,000 |
Total liabilities assumed | 634,123,000 |
Net assets acquired | 9,201,000 |
Fair value adjustments | ' |
Subsequent Event [Line Items] | ' |
Cash and cash equivalents | 0 |
Investment securities available for sale | -9,452,000 |
Loans held for sale | 0 |
Restricted equity securities | 671,000 |
Loans | -21,843,000 |
Less: allowance for loan losses | 7,796,000 |
Premises and equipment | -1,185,000 |
Other real estate owned | -1,305,000 |
Other assets | -465,000 |
Intangible asset | 3,780,000 |
Total assets acquired | -22,003,000 |
Noninterest-bearing | 0 |
Interest-bearing | 1,546,000 |
Total deposits | 1,546,000 |
Federal Funds purchased | 0 |
Other liabilities | 167,000 |
Total liabilities assumed | 1,713,000 |
Net assets acquired | ($23,716,000) |
Subsequent_Events_Loans_Acquir
Subsequent Events (Loans Acquired) (Details) (Subsequent Event, 1st Financial, USD $) | Jan. 02, 2014 |
In Thousands, unless otherwise specified | |
Subsequent Event [Line Items] | ' |
Contractually required payments | $413,937 |
Cash flows expected to be collected | 400,326 |
Loans | 316,327 |
Commercial | ' |
Subsequent Event [Line Items] | ' |
Loans | 201,265 |
Commercial | Construction and land development | ' |
Subsequent Event [Line Items] | ' |
Loans | 41,516 |
Commercial | Mortgage | ' |
Subsequent Event [Line Items] | ' |
Loans | 123,925 |
Commercial | Other commercial real estate | ' |
Subsequent Event [Line Items] | ' |
Loans | 6,698 |
Commercial | Commercial and industrial | ' |
Subsequent Event [Line Items] | ' |
Loans | 29,126 |
Noncommerical | ' |
Subsequent Event [Line Items] | ' |
Loans | 115,062 |
Noncommerical | Mortgage | ' |
Subsequent Event [Line Items] | ' |
Loans | 113,177 |
Noncommerical | Consumer | ' |
Subsequent Event [Line Items] | ' |
Loans | $1,885 |
Parent_Company_Financial_State2
Parent Company Financial Statements (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Assets | ' | ' | ' | ' |
Investment securities | $5,387,703,000 | $5,226,228,000 | ' | ' |
Other assets | 263,797,000 | 367,610,000 | ' | ' |
Total assets | 21,199,091,000 | 21,283,652,000 | ' | ' |
Liabilities and Shareholders' Equity | ' | ' | ' | ' |
Short-term borrowings | 511,418,000 | 568,505,000 | ' | ' |
Long-term obligations | 510,769,000 | 444,921,000 | ' | ' |
Other liabilities | 116,785,000 | 218,553,000 | ' | ' |
Stockholders' equity | 2,076,675,000 | 1,864,007,000 | 1,861,128,000 | 1,732,962,000 |
Total liabilities and shareholders' equity | 21,199,091,000 | 21,283,652,000 | ' | ' |
Income Statement [Abstract] | ' | ' | ' | ' |
Interest expense | 56,618,000 | 90,148,000 | 144,192,000 | ' |
Net interest income (loss) | 740,186,000 | 914,688,000 | 870,967,000 | ' |
Income tax benefit | 96,965,000 | 59,822,000 | 115,103,000 | ' |
Net income | 167,699,000 | 134,348,000 | 195,028,000 | ' |
OPERATING ACTIVITIES | ' | ' | ' | ' |
Net income | 167,699,000 | 134,348,000 | 195,028,000 | ' |
Net amortization of premiums and accretion of discounts | -115,060,000 | -158,227,000 | -194,434,000 | ' |
Gain on retirement of long-term obligations | 0 | 0 | -9,685,000 | ' |
Securities (gains) losses | 0 | -2,277,000 | 288,000 | ' |
Gain on sale of other assets | -4,085,000 | 0 | 0 | ' |
Other than temporary impairment on securities | 0 | ' | ' | ' |
Change in other assets | 103,974,000 | -17,617,000 | 89,979,000 | ' |
Change in other liabilities | 56,998,000 | 23,967,000 | -1,541,000 | ' |
INVESTING ACTIVITIES | ' | ' | ' | ' |
Net change in short-term borrowings | -57,087,000 | -101,717,000 | -283,440,000 | ' |
Retirement of long-term obligations | -4,152,000 | -196,338,000 | -320,730,000 | ' |
Repurchase of common stock | -321,000 | -103,624,000 | -24,387,000 | ' |
Cash dividends paid | -8,663,000 | -15,398,000 | -12,499,000 | ' |
Net change in cash | -106,131,000 | 48,929,000 | 130,623,000 | ' |
Cash and due from banks at beginning of period | 639,730,000 | 590,801,000 | 460,178,000 | ' |
Cash and due from banks at end of period | 533,599,000 | 639,730,000 | 590,801,000 | ' |
Cash payments for | ' | ' | ' | ' |
Interest | 59,234,000 | 104,514,000 | 157,477,000 | ' |
Income taxes | 102,890,000 | 66,453,000 | 91,465,000 | ' |
Parent [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash | 13,047,000 | 2,131,000 | ' | ' |
Investment securities | 234,488,000 | 237,765,000 | ' | ' |
Investment in subsidiaries | 2,058,505,000 | 1,969,600,000 | ' | ' |
Due from subsidiaries | 145,666,000 | 78,512,000 | ' | ' |
Other assets | 144,998,000 | 83,283,000 | ' | ' |
Total assets | 2,596,704,000 | 2,371,291,000 | ' | ' |
Liabilities and Shareholders' Equity | ' | ' | ' | ' |
Short-term borrowings | 411,907,000 | 399,047,000 | ' | ' |
Long-term obligations | 96,392,000 | 96,392,000 | ' | ' |
Other liabilities | 11,730,000 | 11,845,000 | ' | ' |
Stockholders' equity | 2,076,675,000 | 1,864,007,000 | ' | ' |
Total liabilities and shareholders' equity | 2,596,704,000 | 2,371,291,000 | ' | ' |
Income Statement [Abstract] | ' | ' | ' | ' |
Interest income | 1,387,000 | 1,353,000 | 1,345,000 | ' |
Interest expense | 7,065,000 | 15,435,000 | 21,512,000 | ' |
Net interest income (loss) | -5,678,000 | -14,082,000 | -20,167,000 | ' |
Dividends from subsidiaries | 131,006,000 | 179,588,000 | 82,812,000 | ' |
Other income (loss) | 3,620,000 | 2,843,000 | 9,699,000 | ' |
Other operating expense | 2,344,000 | 6,384,000 | 5,298,000 | ' |
Income before income tax benefit and equity in undistributed net income of subsidiaries | 126,604,000 | 161,965,000 | 67,046,000 | ' |
Income tax benefit | -2,095,000 | -8,417,000 | -5,531,000 | ' |
Income before equity in undistributed net income of subsidiaries | 128,699,000 | 170,382,000 | 72,577,000 | ' |
(Excess distributions) equity in undistributed net income of subsidiaries | 39,000,000 | -36,034,000 | 122,451,000 | ' |
Net income | 167,699,000 | 134,348,000 | 195,028,000 | ' |
OPERATING ACTIVITIES | ' | ' | ' | ' |
Net income | 167,699,000 | 134,348,000 | 195,028,000 | ' |
Undistributed net income of subsidiaries | -39,000,000 | 36,034,000 | -122,451,000 | ' |
Net amortization of premiums and accretion of discounts | 334,000 | 439,000 | 203,000 | ' |
Gain on retirement of long-term obligations | 0 | 0 | -9,685,000 | ' |
Securities (gains) losses | 0 | -2,274,000 | -62,000 | ' |
Gain on sale of other assets | -1,331,000 | 0 | 0 | ' |
Other than temporary impairment on securities | 0 | 45,000 | 26,000 | ' |
Change in other assets | -61,704,000 | 30,761,000 | -20,951,000 | ' |
Change in other liabilities | -2,096,000 | -10,148,000 | -1,925,000 | ' |
Net cash provided by (Used in) Operating Activities | 63,902,000 | 189,205,000 | 40,183,000 | ' |
INVESTING ACTIVITIES | ' | ' | ' | ' |
Net change in due from subsidiaries | -67,154,000 | 42,323,000 | 146,463,000 | ' |
Purchases of investment securities | -126,197,000 | -111,409,000 | -220,387,000 | ' |
Maturities and sales of investment securities | 135,000,000 | 112,625,000 | 75,151,000 | ' |
Investment in subsidiaries | 1,489,000 | 9,298,000 | 0 | ' |
Net Cash Provided by (Used in) Investing Activities | -56,862,000 | 52,837,000 | 1,227,000 | ' |
Net change in short-term borrowings | 12,860,000 | 23,651,000 | 4,046,000 | ' |
Retirement of long-term obligations | 0 | -155,305,000 | -11,815,000 | ' |
Repurchase of common stock | -321,000 | -103,624,000 | -24,387,000 | ' |
Cash dividends paid | -8,663,000 | -15,398,000 | -12,499,000 | ' |
Net cash used by financing activities | 3,876,000 | -250,676,000 | -44,655,000 | ' |
Net change in cash | 10,916,000 | -8,634,000 | -3,245,000 | ' |
Cash and due from banks at beginning of period | 2,131,000 | 10,765,000 | 14,010,000 | ' |
Cash and due from banks at end of period | 13,047,000 | 2,131,000 | 10,765,000 | ' |
Cash payments for | ' | ' | ' | ' |
Interest | 6,904,000 | 25,574,000 | 20,677,000 | ' |
Income taxes | $102,890,000 | $66,453,000 | $91,465,000 | ' |