Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Feb. 24, 2016 | Jun. 30, 2015 | |
Entity Registrant Name | FIRST CITIZENS BANCSHARES INC /DE/ | ||
Entity Central Index Key | 798,941 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 1,930,557,160 | ||
Class A Common Stock | |||
Entity Common Stock, Shares Outstanding | 11,005,220 | ||
Class B Common Stock | |||
Entity Common Stock, Shares Outstanding | 1,005,185 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Assets | ||
Cash and due from banks | $ 534,086 | $ 604,182 |
Overnight investments | 2,063,132 | 1,724,919 |
Investment securities available for sale | 6,861,293 | 7,171,917 |
Investment securities held to maturity | 255 | 518 |
Loans Receivable Held-for-sale, Amount | 59,766 | 63,696 |
Loans and leases: | ||
Purchased credit-impaired (PCI) | 950,516 | 1,186,498 |
Non-PCI | 19,289,474 | 17,582,967 |
Less allowance for loan and lease losses | (206,216) | (204,466) |
Net Loans and Leases | 20,033,774 | 18,564,999 |
Loans and Leases Receivable, Gross | 20,239,990 | 18,769,465 |
Premises and equipment | 1,135,829 | 1,125,081 |
Other real estate owned: | ||
Other Real Estate, Covered | 6,817 | 22,982 |
Other Real Estate, Non Covered | 58,742 | 70,454 |
Income earned not collected | 70,036 | 57,254 |
FDIC loss share receivable | 4,054 | 28,701 |
Goodwill | 139,773 | 139,773 |
Intangible Assets, Net (Excluding Goodwill) | 90,986 | 106,610 |
Other assets | 417,391 | 394,027 |
Total assets | 31,475,934 | 30,075,113 |
Liabilities | ||
Noninterest-bearing | 9,274,470 | 8,086,784 |
Interest-bearing | 17,656,285 | 17,591,793 |
Total deposits | 26,930,755 | 25,678,577 |
Debt, Current | 594,733 | 987,184 |
Long-term obligations | 704,155 | 351,320 |
FDIC loss share payable | 126,453 | 116,535 |
Other liabilities | 247,729 | 253,903 |
Total liabilities | 28,603,825 | 27,387,519 |
Shareholders' Equity | ||
Surplus | 658,918 | 658,918 |
Retained earnings | 2,265,621 | 2,069,647 |
Accumulated other comprehensive loss | (64,440) | (52,981) |
Total shareholders' equity | 2,872,109 | 2,687,594 |
Total liabilities and shareholders' equity | 31,475,934 | 30,075,113 |
Class A Common Stock | ||
Shareholders' Equity | ||
Common stock | 11,005 | 11,005 |
Class B Common Stock | ||
Shareholders' Equity | ||
Common stock | $ 1,005 | $ 1,005 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Available-for-sale Securities, Amortized Cost Basis | $ 6,885,797 | $ 7,163,574 |
Class A Common Stock | ||
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shared authorized | 16,000,000 | 16,000,000 |
Common stock, shares issued | 11,005,220 | 11,005,220 |
Common stock, shares outstanding | 11,005,220 | 11,005,220 |
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 | 1,005,185 | 1,005,185 |
Common stock, shares outstanding | 1,005,185 | 1,005,185 |
Mortgage Backed Securities, Other | ||
Available-for-sale Securities, Amortized Cost Basis | $ 4,692,447 | $ 3,628,187 |
Held-to-maturity Securities, Fair Value | $ 265 | $ 544 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Interest income | |||
Loans and leases | $ 874,892 | $ 700,525 | $ 757,197 |
Investment securities: | |||
U. S. Treasury | 15,353 | 11,656 | 1,645 |
Government agency | 6,843 | 7,410 | 12,265 |
Residential mortgage-backed securities | 65,815 | 36,492 | 22,642 |
State, county and municipal | 33 | 13 | 12 |
Other | 206 | 640 | 320 |
Total investment securities interest and dividend income | 88,250 | 56,211 | 36,884 |
Overnight investments | 6,067 | 3,712 | 2,723 |
Total interest income | 969,209 | 760,448 | 796,804 |
Interest expense | |||
Deposits | 21,230 | 24,786 | 34,495 |
Short-term borrowings | 4,660 | 9,177 | 2,724 |
Long-term obligations | 18,414 | 16,388 | 19,399 |
Total interest expense | 44,304 | 50,351 | 56,618 |
Net interest income (loss) | 924,905 | 710,097 | 740,186 |
Provision for loan and lease losses | 20,664 | 640 | (32,255) |
Net interest income after provision for loan and lease losses | 904,241 | 709,457 | 772,441 |
Noninterest income | |||
Gain on acquisition | 42,930 | 0 | 0 |
Cardholder and merchant services | 77,342 | 59,607 | 48,360 |
Merchant Discount Fees | 84,207 | 64,075 | 56,024 |
Service charges on deposit accounts | 90,546 | 69,100 | 60,661 |
Wealth management services | 82,865 | 66,115 | 59,628 |
Fees from processing services | 180 | 17,989 | 22,821 |
Securities gains (losses) | 10,817 | 29,096 | 0 |
Other service charges and fees | 23,807 | 17,760 | 15,696 |
Mortgage income | 18,168 | 5,828 | 11,065 |
Insurance commissions | 11,757 | 11,129 | 10,694 |
ATM income | 7,119 | 5,388 | 5,026 |
Adjustments to FDIC receivable | (19,009) | (32,151) | (72,342) |
Other | 36,359 | 29,277 | 49,749 |
Total noninterest income | 467,088 | 343,213 | 267,382 |
Noninterest expense | |||
Salaries and wages | 429,742 | 349,279 | 308,936 |
Employee benefits | 113,309 | 79,898 | 90,479 |
Occupancy expense | 98,191 | 86,775 | 75,713 |
Equipment expense | 92,639 | 79,084 | 75,538 |
FDIC insurance expense | 18,340 | 12,979 | 10,175 |
Foreclosure-related expenses | 2,662 | 17,368 | 17,134 |
Merger-related expenses | 14,174 | 13,064 | 391 |
Other | 269,858 | 210,629 | 193,014 |
Total noninterest expense | 1,038,915 | 849,076 | 771,380 |
Income before income taxes | 332,414 | 203,594 | 268,443 |
Income taxes | 122,028 | 65,032 | 101,574 |
Income taxes | 121,478 | 98,371 | 53,928 |
Net income | $ 210,386 | $ 138,562 | $ 166,869 |
Average shares outstanding (in shares) | 12,010,405 | 10,221,721 | 9,618,952 |
Cash dividends (in dollars per share) | $ 1.20 | $ 1.20 | $ 1.20 |
Net income per share | $ 17.52 | $ 13.56 | $ 17.35 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 210,386 | $ 138,562 | $ 166,869 |
Unrealized gains (losses) on securities: | |||
Change in unrealized securities gains (losses) arising during period | (22,030) | 54,071 | (50,441) |
Tax effect | 8,486 | (21,010) | 19,833 |
Reclassification adjustment for net gains realized and included in income before income taxes | (10,817) | (29,096) | 0 |
Tax effect | 4,138 | 11,224 | 0 |
Total change in unrealized gains (losses) on securities, net of tax | (20,223) | 15,189 | (30,608) |
Change in fair value of cash flow hedges: | |||
Change in unrecognized loss on cash flow hedges | 2,908 | 2,883 | 3,178 |
Tax effect | (1,136) | (1,113) | (1,320) |
Total change in unrecognized loss on cash flow hedges, net of tax | 1,772 | 1,770 | 1,858 |
Change in pension obligation: | |||
Change in pension obligation | 691 | (78,472) | 123,557 |
Tax effect | (297) | 30,526 | (48,475) |
Amortization of actuarial losses and prior service cost | 11,586 | 5,358 | 17,195 |
Tax effect | (4,988) | (2,084) | (6,689) |
Total change in pension obligation, net of tax | 6,992 | (44,672) | 85,588 |
Net current period other comprehensive (loss) income | (11,459) | (27,713) | 56,838 |
Total comprehensive income | $ 198,927 | $ 110,849 | $ 223,707 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Shareholders' Equity - USD ($) $ in Thousands | Total | Class A Common Stock | Class B Common Stock | Common Stock | Common StockClass A Common Stock | Common StockClass B Common Stock | Surplus | SurplusClass A Common Stock | SurplusClass B Common Stock | Retained Earnings [Member] | Retained Earnings [Member]Class A Common Stock | Retained Earnings [Member]Class B Common Stock | Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive LossClass A Common Stock | Accumulated Other Comprehensive LossClass B Common Stock |
Beginning balance at Dec. 31, 2012 | $ 1,859,624 | $ 8,588 | $ 1,033 | $ 143,766 | $ 1,788,343 | $ (82,106) | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Net income | 166,869 | 0 | 0 | 0 | 166,869 | 0 | |||||||||
Net current period other comprehensive income | 56,838 | 0 | 0 | 0 | 0 | 56,838 | |||||||||
Repurchase of common stock shares | $ (321) | (2) | 0 | $ 0 | $ (319) | $ 0 | |||||||||
Repurchase and retirement of common stock | 0 | ||||||||||||||
Cash dividends | (11,548) | 0 | 0 | 0 | (11,548) | 0 | |||||||||
Ending balance at Dec. 31, 2013 | 2,071,462 | 8,586 | 1,033 | 143,766 | 1,943,345 | (25,268) | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Net income | 138,562 | 0 | 0 | 0 | 138,562 | 0 | |||||||||
Net current period other comprehensive income | (27,713) | 0 | 0 | 0 | 0 | (27,713) | |||||||||
Stock Issued During Period, Value, New Issues | 563,628 | 2,587 | 18 | 561,023 | 0 | 0 | |||||||||
Repurchase of common stock shares | $ (36,308) | $ (9,777) | $ 0 | (168) | (46) | $ (36,140) | $ (9,731) | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Repurchase and retirement of common stock | 46,085 | ||||||||||||||
Cash dividends | (12,260) | 0 | 0 | 0 | (12,260) | 0 | |||||||||
Ending balance at Dec. 31, 2014 | 2,687,594 | 11,005 | 1,005 | 658,918 | 2,069,647 | (52,981) | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Net income | 210,386 | 0 | 0 | 0 | 210,386 | 0 | |||||||||
Net current period other comprehensive income | (11,459) | 0 | 0 | 0 | 0 | (11,459) | |||||||||
Repurchase and retirement of common stock | 0 | ||||||||||||||
Cash dividends | (14,412) | 0 | 0 | 0 | (14,412) | 0 | |||||||||
Ending balance at Dec. 31, 2015 | $ 2,872,109 | $ 11,005 | $ 1,005 | $ 658,918 | $ 2,265,621 | $ (64,440) |
Consolidated Statements of Cha7
Consolidated Statements of Changes In Shareholders' Equity (Parenthetical) $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($)$ / sharesshares | |
Statement of Stockholders' Equity [Abstract] | |
Cash dividends (in dollars per share) | $ / shares | $ 1.20 |
Stock issuance costs | $ | $ 0 |
Class B Common Stock | |
Statement of Stockholders' Equity [Abstract] | |
Stock Repurchased and Retired During Period, Shares | shares | 0 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
OPERATING ACTIVITIES | ||||
Net income | $ 210,386 | $ 138,562 | $ 166,869 | |
Adjustments to reconcile net income to cash provided by operating activities: | ||||
Provision for loan and lease losses | 20,664 | 640 | (32,255) | |
Deferred tax expense (benefit) | 550 | (33,339) | 47,646 | |
Change in current taxes payable | (19,477) | 72,274 | (79,173) | |
Depreciation | 87,717 | 75,481 | 70,841 | |
Change in accrued interest payable | (2,481) | 1,457 | (2,616) | |
Change in income earned not collected | (12,782) | 6,402 | (724) | |
Business Combination, Bargain Purchase, Gain Recognized, Amount | (42,930) | 0 | 0 | |
Gain (Loss) on Disposition of Business | (216) | 0 | 0 | |
Gain on sale of other assets | 0 | 0 | (4,085) | |
Securities losses (gains) | (10,817) | (29,096) | 0 | |
Origination of loans held for sale | (685,631) | (377,993) | (393,908) | |
Proceeds from sale of loans held for sale | 701,412 | 398,719 | 443,708 | |
Gain on sale of loans | (11,851) | (4,971) | (10,738) | |
Loss on sale of other real estate | 2,168 | 14,275 | 6,686 | |
Gain on elimination of acquired debt | 0 | (1,988) | 0 | |
Net amortization of premiums and discounts | (85,066) | (48,374) | (112,759) | |
Amortization of intangible assets | 22,894 | 6,955 | 2,309 | |
FDIC receivable for loss share agreements | 47,044 | 27,666 | 71,771 | |
FDIC payable for loss share agreements | 9,918 | 6,933 | 7,821 | |
Net change in other assets | (12,904) | (72,680) | 100,437 | |
Net change in other liabilities | 14,458 | 1,319 | 49,177 | |
Net cash provided by operating activities | 233,056 | 182,242 | 331,007 | |
INVESTING ACTIVITIES | ||||
Net change in loans outstanding | (1,311,447) | (814,372) | 323,436 | |
Purchases of investment securities available for sale | (2,467,993) | (2,518,680) | (2,671,420) | |
Proceeds from maturities of investment securities held to maturity | 263 | 389 | 435 | |
Proceeds from maturities of investment securities available for sale | 1,478,608 | 2,482,722 | 2,437,851 | |
Proceeds from sales of investment securities available for sale | 1,286,120 | 422,652 | 0 | |
Net change in overnight investments | (338,213) | 221,730 | (416,144) | |
Cash (paid to) received from the FDIC for loss share agreements | (33,296) | (1,286) | 19,373 | |
Proceeds from Sale of Other Real Estate | 80,932 | 89,485 | 147,550 | |
Proceeds from Sale of Loans Held-for-investment | 45,862 | 0 | 0 | |
Additions to premises and equipment | (89,734) | (82,708) | (66,037) | |
Business acquisition, net of cash acquired | 123,137 | 182,370 | 0 | |
Net Cash Used in Divestiture of Businesses | (22,242) | 0 | 0 | |
Net cash (used) provided by investing activities | (1,248,003) | (17,698) | (224,956) | |
FINANCING ACTIVITIES | ||||
Net change in time deposits | (590,773) | (499,869) | (699,005) | |
Net change in demand and other interest-bearing deposits | 1,607,487 | 497,692 | 487,046 | |
Net change in short-term borrowings | (397,952) | (25,321) | (57,087) | |
Repayment of long-term obligations | (5,896) | (54,301) | (4,152) | |
Origination of long-term obligations | 350,000 | 0 | 70,000 | |
Stock issuance costs | 0 | (619) | 0 | |
Repurchase of common stock | 0 | 0 | (321) | |
Cash dividends paid | (18,015) | (11,543) | (8,663) | |
Net cash provided (used) by financing activities | 944,851 | (93,961) | (212,182) | |
Change in cash and due from banks | (70,096) | 70,583 | (106,131) | |
Cash and due from banks at beginning of period | 604,182 | 533,599 | 639,730 | |
Cash and due from banks at end of period | 534,086 | 604,182 | 533,599 | |
CASH PAYMENTS FOR: | ||||
Interest | 46,785 | 48,894 | 59,234 | |
Income taxes | 136,900 | 127,970 | 102,890 | |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||||
Transfers of loans to other real estate | 55,032 | 65,956 | 92,125 | |
Dividends declared but not paid | 0 | 3,603 | 2,885 | |
Reclassification of reserve for unfunded commitments to allowance for loans and leases | 0 | 0 | 7,368 | [1] |
Repurchase and retirement of common stock | 0 | (46,085) | 0 | |
Issuance of common stock associated with Bancorporation merger | $ 0 | $ 564,248 | $ 0 | |
[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 o
Accounting Policies and Basis of Presentation | 12 Months Ended |
Dec. 31, 2015 | |
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 its merger with 1st Financial Services Corporation (1st Financial) of Hendersonville, NC and its wholly-owned subsidiary, Mountain 1st Bank & Trust Company (Mountain 1st). On October 1, 2014, BancShares completed the merger of First Citizens Bancorporation, Inc. (Bancorporation) with and into BancShares pursuant to an Agreement and Plan of Merger dated June 10, 2014, as amended on July 29, 2014. On January 1, 2015, First Citizens Bank and Trust Company, Inc. (FCB-SC) merged with and into FCB. As of December 31, 2015, FCB remained the single banking subsidiary of BancShares. On February 13, 2015, FCB entered into an agreement with the Federal Deposit Insurance Corporation (FDIC), as Receiver, to purchase certain assets and assume certain liabilities of Capitol City Bank & Trust (CCBT). The CCBT 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 B for additional information regarding the CCBT 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 559 branches in North Carolina, South Carolina, Virginia, West Virginia, Maryland, Tennessee, California, Washington, Florida, Georgia, Texas, Arizona, New Mexico, Colorado, Oregon, Missouri, Oklahoma, Kansas and the District of Columbia. FCB provides full-service banking services designed to meet the needs of retail and commercial customers in the markets in which they operate. 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. (FCIS) and First Citizens Securities Corporation (FCSC), and title insurance is offered through Neuse Financial Services, Inc. FCSC merged into FCIS effective January 1, 2016. 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. BancShares operates with centralized management and combined reporting, thus BancShares operates as one consolidated reportable segment. FCB has investments in certain partnerships and limited liability entities primarily for the purposes of fulfilling Community Reinvestment Act requirements and/or obtaining tax credits. The entities 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 entities are not consolidated into the financial statements of FCB or BancShares. The recorded investment in these entities 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. 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 purchased credit-impaired (PCI) 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. 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 recognized as either finite lived intangibles or capitalized as goodwill. In addition, acquisition-related costs and restructuring costs are recognized as period expenses as incurred. 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 initial maturities of three months or less. The carrying value of cash and cash equivalents approximates its fair value due to its short-term nature. Investment 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, 2015 and 2014 , 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 on a trade date basis and are included in noninterest income. BancShares evaluates each held to maturity and available for sale security in a loss position for other-than-temporary impairment (OTTI) 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 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. 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. Nonmarketable securities are recorded within other assets in BancShares’ Consolidated Balance Sheets. FHLB and nonmarketable securities were $37.7 million and $52.8 million at December 31, 2015 and 2014 , respectively. Loans Held For Sale BancShares has elected to apply the fair value option for new originations of prime residential mortgage loans to be sold. BancShares elected the fair value option in 2014 and accounts for the forward commitments used to economically hedge the loans held for sale at fair value. Gains and losses on sales of mortgage loans are recognized in the Consolidated Statements of Income in mortgage income. Origination fees collected are deferred and recorded in mortgage income in the period the corresponding loan is sold. Loans and Leases BancShares' accounting methods for loans and leases differ depending on whether they are purchased credit impaired (PCI) or non-PCI. Non-Purchased Credit Impaired (Non-PCI) 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 non-PCI 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. Net deferred fees on non-PCI loans, including unearned income and unamortized costs, fees, premiums and discounts, were $16.6 million and $20.8 million at December 31, 2015 and 2014 , respectively. Non-PCI loans include originated commercial, originated noncommercial, purchased non-impaired loans, purchased leases and certain purchased revolving credit. For purchased non-impaired loans to be included as non-PCI, it must be determined that the loans do not have a discount at least in part due to credit quality at the time of acquisition. The difference between fair value and unpaid principal balance of the loan at the acquisition date is amortized or accreted to interest income over the estimated life of the loans using a method that approximates the interest method. Purchased Credit Impaired (PCI) Loans and Leases PCI 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. PCI loans and leases are evaluated at acquisition and where a discount is required at least in part due to credit, the loans are accounted for under the guidance in Accounting Standards Codification (ASC) 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 PCI 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 the effective yield method. Over the life of PCI 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 through a reversal of previously recognized allowance through provision expense, and then the amount of accretable yield recognized on a prospective basis over the loan's or pool's remaining life. For non-pooled PCI loans and leases, accretion income is recognized except for situations when the timing and amount of future cash flows cannot be determined. PCI 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 PCI 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 non-PCI 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. 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 first to all previously charged off principal until fully collected, then to interest income, to the extent that any interest has been foregone. A loan is considered a TDR when both of the following occur: (1) a modification to a borrower's debt agreement is made and (2) a concession 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 PCI loans that are part of a pool accounted for as a single asset are not designated as TDRs. Modifications of non-pooled PCI loans are designated as TDRs in the same manner as non-PCI loans. TDRs can be 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 non-PCI 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 if the loss is deemed confirmed. 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 all previously uncollected accrued interest is reversed from interest income. All payments received thereafter are applied as a reduction of 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. Other Real Estate Owned (OREO) acquired as a result of foreclosure is carried at net realizable value (NRV). Net realizable value equals fair value less estimated selling costs. Any excess of recorded investment in the loan over NRV at the time of foreclosure is booked against the allowance for loan and lease losses as a charge-off. Any excess in NRV over recorded investment in the loan at the time of foreclosure is recorded as a recovery of prior charge-off, if any, up to the amount of prior charge-off with excess recorded as an offset to foreclosure-related expense. OREO is 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 foreclosure-related expense. Gains and losses resulting from the sale or write down of OREO and income and expenses related to its operation are recorded in foreclosure-related expense. OREO covered by loss share agreements with the FDIC (covered OREO) is reported exclusive of expected reimbursement of cash flows from the FDIC at NRV. Subsequent downward adjustments to the estimated recoverable value of covered OREO result in a reduction in 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 OREO is discussed in more detail below. Covered Assets and Receivable from FDIC for Loss Share Agreements Assets subject to loss share agreements with the FDIC include certain loans and OREO. These loss share agreements afford BancShares significant protection as they 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 and/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 is 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 valued on the same basis as the related indemnified assets. Because the PCI 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 and lease losses, would immediately increase the FDIC receivable, with the offset recorded through the Consolidated Statements of Income in other noninterest 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 are 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 other 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 payments that may be owed to the FDIC at the termination of the loss share agreements . The 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 liability is calculated by discounting estimated future payments and is reported in the Consolidated Balance Sheets as an FDIC loss share payable. The ultimate settlement amount of the 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) 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 PCI 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 the company has developed and documents a systematic methodology to determine its ALLL. BancShares evaluates its loan and lease portfolio using three portfolio segments; non-PCI commercial, non-PCI noncommercial and PCI. The non-PCI 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 individual loans. The non-PCI noncommercial segment includes noncommercial construction and land development, residential mortgage, revolving mortgage and consumer loans and the related ALLL is 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 for non-PCI loans. It also includes establishing an ALLL for PCI loans that have deteriorated since acquisition. 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. This allowance estimate 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 methodology also considers the remaining discounts recognized upon acquisition associated with purchased non-impaired loans in estimating a general allowance. 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. 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 non-PCI 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 non-PCI 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 updates by management, such as the number of periods included in the calculation of loss factors, loss severity and portfolio attrition. The qualitative framework used in estimating the general allowance 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 by the factors in the qualitative framework to address environmental factors not reflected in the historical experience. These adjustments are specific to the loan class level. In accordance with our allowance methodology, reserve factors related to the qualitative component of the ALLL were updated in 2015 resulting in a release of approximately $4.8 million of reserves. The ALLL for PCI loans is estimated based on the expected cash flows approach. Over the life of PCI loans, BancShares continues to estimate cash flows expected to be collected on individual loans or pools of loans 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 their 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. 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 ALLL. 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 did not have a material impact on the ALLL. Specific allocations are made for larger, individual impaired loans. 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 recorded investment in the loan and the estimated fair value. The fair value of impaired loans is based on the present value of expected cash flows, market prices of the loans, if available, or |
Business Combinations Business
Business Combinations Business Combinations (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Business Acquisition [Line Items] | |
Business Combinations | BUSINESS COMBINATIONS Capitol City Bank & Trust Company On February 13, 2015, FCB entered into an agreement with the FDIC, as Receiver, to purchase certain assets and assume certain liabilities of CCBT. The acquisition expanded FCB's presence in Georgia as CCBT operated eight branch locations in Atlanta, Stone Mountain, Albany, Augusta and Savannah, Georgia. In June of 2015, FCB closed one of the branches in Atlanta. The CCBT transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as additional information regarding closing date fair values becomes available. The fair value of the assets acquired was $211.9 million , including $154.5 million in loans and $690 thousand of identifiable intangible assets. Liabilities assumed were $272.5 million of which $266.4 million were deposits. During the second quarter of 2015, adjustments were made to the acquisition fair values primarily based upon updated collateral valuations resulting in an increase of $5.4 million to the gain on acquisition. These adjustments were applied retroactively to the first quarter of 2015 and brought the total gain on the transaction to $42.9 million which is included in noninterest income in the Consolidated Statement of Income. The total after-tax impact of the gain was $26.4 million . The following table provides the identifiable assets acquired and liabilities assumed at their estimated fair values as of the acquisition date. (Dollars in thousands) As recorded by FCB Assets Cash and cash equivalents $ 19,622 Investment securities 35,413 Loans 154,496 Intangible assets 690 Other assets 1,714 Total assets acquired 211,935 Liabilities Deposits 266,352 Short-term borrowings 5,501 Other liabilities 667 Total liabilities assumed 272,520 Fair value of net liabilities assumed (60,585 ) Cash received from FDIC 103,515 Gain on acquisition of CCBT $ 42,930 Merger-related expenses of $1.9 million were recorded in the Consolidated Statement of Income for the year ended December 31, 2015 . Loan-related interest income generated from CCBT was approximately $8.3 million for the year ended December 31, 2015 . All loans resulting from the CCBT transaction were recorded at the acquisition date with a discount attributable, at least in part, to credit quality, and are therefore accounted for as PCI loans under ASC 310-30. Bancorporation Merger On October 1, 2014, BancShares completed the merger of Bancorporation with and into BancShares pursuant to an Agreement and Plan of Merger dated June 10, 2014, as amended on July 29, 2014. FCB-SC merged with and into FCB on January 1, 2015. Under the terms of the Merger Agreement, each share of Bancorporation common stock was converted into the right to receive 4.00 shares of BancShares' Class A common stock and $50.00 cash, unless the holder elected for each share to be converted into the right to receive 3.58 shares of BancShares' Class A common stock and 0.42 shares of BancShares' Class B common stock. BancShares issued 2,586,762 Class A common shares at a fair value of $560.4 million and 18,202 Class B common shares at a fair value of $3.9 million to Bancorporation shareholders. Also, cash paid to Bancorporation shareholders was $30.4 million . At the time of the merger, BancShares owned 32,042 shares of common stock in Bancorporation with an approximate fair value of $29.6 million . The fair value of common stock owned by BancShares in Bancorporation is considered part of the purchase price, and the shares ceased to exist after completion of the merger. A gain of $29.1 million was recognized on these shares as a result and is included in securities gains on the Consolidated Statement of Income for 2014. In connection with the Bancorporation merger, BancShares completed an analysis of the control ownership of BancShares and Bancorporation and determined that common control did not exist. The merger between BancShares and Bancorporation created a more diversified financial institution that is better equipped to respond to economic and industry developments. Additionally, cost savings, efficiencies and other benefits were expected from the combined operations. The Bancorporation 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 were subject to refinement for up to one year after the closing date of the transaction. The measurement period ended on October 1, 2015. The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) Purchase Price Value of shares of BancShares Class A common stock issued to Bancorporation shareholders $ 560,370 Value of shares of BancShares Class B common stock issued to Bancorporation shareholders 3,877 Cash paid to Bancorporation shareholders 30,394 Fair value of Bancorporation shares owned by BancShares 29,551 Total purchase price 624,192 Assets Cash and due from banks $ 194,570 Overnight investments 1,087,325 Investment securities available for sale 2,011,263 Loans held for sale 30,997 Loans and leases 4,491,067 Premises and equipment 238,646 Other real estate owned 35,344 Income earned not collected 15,266 FDIC loss share receivable 5,106 Other intangible assets 109,416 Other assets 56,367 Total assets acquired 8,275,367 Liabilities Deposits 7,174,817 Short-term borrowings 295,681 Long-term obligations 124,852 FDIC loss share payable 224 Other liabilities 59,834 Total liabilities assumed $ 7,655,408 Fair value of net assets acquired 619,959 Goodwill recorded for Bancorporation $ 4,233 The amount of goodwill recorded reflects the increased market share and related synergies that are expected to result from the acquisition, and represents the excess purchase price over the estimated fair value of the net assets acquired. There were no adjustments to goodwill based on the allowed one year measurement period. None of the goodwill is deductible for income tax purposes as the merger is accounted for as a tax-free exchange. The operating results of BancShares for the year ended December 31, 2014 include the results from the operations acquired in the Bancorporation transaction since October 1, 2014. Bancorporation's operations contributed approximately $92.8 million in total revenue (interest income plus noninterest income) and an estimated $12.7 million in net income for the period from the acquisition date. Merger-related expenses of $12.3 million and $8.0 million were recorded in the Consolidated Statements of Income for the years ended December 31, 2015 and 2014 , respectively. As of December 31, 2015 , all merger related activities are complete and no further merger-related expenses are anticipated. Based on such factors as past due status, nonaccrual status and credit risk ratings, the acquired loans were divided into loans with evidence of credit quality deterioration at the acquisition date, which are accounted for under ASC 310-30 (included in PCI loans), and loans that do not meet this criteria, which are accounted for under ASC 310-20 (included in non-PCI loans). The following unaudited pro forma financial information reflects the consolidated results of operations of BancShares. These results combine the historical results of Bancorporation in the BancShares' Consolidated Statements of Income and, while certain adjustments were made for the estimated impact of certain fair value adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition taken place on January 1, 2013. The unaudited pro forma information has been presented for illustrative purposes only and is not necessarily indicative of the consolidated results of operations that would have been achieved or the future results of operations of BancShares. Year ended December 31 (Dollars in thousands, unaudited) 2014 Total revenue (interest income plus noninterest income) $ 1,336,340 Net loss $ (13,171 ) The merger transaction between BancShares and Bancorporation constituted a triggering event for which Bancorporation undertook a goodwill impairment assessment. Based on the analysis performed, Bancorporation determined that its fair value did not support the goodwill recorded; therefore, Bancorporation recorded a $166.8 million goodwill impairment charge to write-off a portion of goodwill prior to the October 1, 2014 effective date of the merger. This goodwill impairment is included in the pro forma financial results for the year ended December 31, 2014. 1st Financial Merger On January 1, 2014, FCB completed its merger with 1st Financial of Hendersonville, NC and its wholly-owned subsidiary, Mountain 1st Bank & Trust Company (Mountain 1st). FCB paid $10.0 million to acquire 1st Financial, including payments of $8.0 million to the U.S. Treasury to acquire and subsequently retire 1st Financial's Troubled Asset Relief Program 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 and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. These fair values were subject to refinement for up to one year after the closing date of the acquisition. The measurement period ended on December 31, 2014. Assets acquired, excluding goodwill, were $612.9 million , including $307.9 million in loans and leases, $237.4 million of investment securities available for sale, $28.2 million in cash and $3.8 million in core deposit intangibles. Liabilities assumed were $635.8 million , including $631.9 million of deposits. Goodwill of $32.9 million was recorded equaling the excess purchase price over the estimated fair value of the net assets acquired on the acquisition date. Merger costs related to the 1st Financial transaction were $5.0 million for the year ended December 31, 2014. Loan related interest income generated from 1st Financial was approximately $15.2 million for the year ended December 31, 2014. All loans resulting from the 1st Financial transaction were recognized upon acquisition date with a discount attributable, at least in part, to credit quality, and are therefore accounted for as PCI loans under ASC 310-30. |
Investments
Investments | 12 Months Ended |
Dec. 31, 2015 | |
Investments [Abstract] | |
Investments | INVESTMENTS The amortized cost and fair value of investment securities classified as available for sale and held to maturity at December 31, 2015 and 2014 , were as follows: December 31, 2015 (Dollars in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Investment securities available for sale U.S. Treasury $ 1,675,996 $ 4 $ 1,118 $ 1,674,882 Government agency 498,804 230 374 498,660 Mortgage-backed securities 4,692,447 5,120 29,369 4,668,198 Equity securities 7,935 968 10 8,893 Other 10,615 45 — 10,660 Total investment securities available for sale $ 6,885,797 $ 6,367 $ 30,871 $ 6,861,293 December 31, 2014 Cost Gross unrealized gains Gross unrealized losses Fair value U.S. Treasury $ 2,626,900 $ 2,922 $ 152 $ 2,629,670 Government agency 908,362 702 247 908,817 Mortgage-backed securities 3,628,187 16,964 11,847 3,633,304 Municipal securities 125 1 — 126 Total investment securities available for sale $ 7,163,574 $ 20,589 $ 12,246 $ 7,171,917 December 31, 2015 Cost Gross unrealized gains Gross unrealized losses Fair value Investment securities held to maturity Mortgage-backed securities $ 255 $ 10 $ — $ 265 December 31, 2014 Cost Gross unrealized gains Gross unrealized losses Fair value Mortgage-backed securities $ 518 $ 26 $ — $ 544 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 amortized cost and fair value by contractual maturity. Expected maturities will differ from contractual maturities on certain securities because borrowers and issuers may have the right to call or prepay obligations with or without prepayment penalties. Repayments of mortgage-backed securities are dependent on the repayments of the underlying loan balances. Equity securities do not have a stated maturity date. December 31, 2015 December 31, 2014 (Dollars in thousands) Cost Fair value Cost Fair value Investment securities available for sale Non-amortizing securities maturing in: One year or less $ 1,255,714 $ 1,255,094 $ 447,866 $ 447,992 One through five years 919,086 918,448 3,087,521 3,090,621 Five through 10 years 8,500 8,500 — — Over 10 years 2,115 2,160 — — Mortgage-backed securities 4,692,447 4,668,198 3,628,187 3,633,304 Equity securities 7,935 8,893 — — Total investment securities available for sale $ 6,885,797 $ 6,861,293 $ 7,163,574 $ 7,171,917 Investment securities held to maturity Mortgage-backed securities held to maturity $ 255 $ 265 $ 518 $ 544 For each period presented, securities gains (losses) include the following: Year ended December 31 (Dollars in thousands) 2015 2014 2013 Gross gains on retirement/sales of investment securities available for sale $ 10,834 $ 29,129 $ — Gross losses on sales of investment securities available for sale (17 ) (33 ) — Total securities gains $ 10,817 $ 29,096 $ — The following table provides information regarding securities with unrealized losses as of December 31, 2015 and 2014 : December 31, 2015 Less than 12 months 12 months or more Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities available for sale: U.S. Treasury $ 1,539,637 $ 1,118 $ — $ — $ 1,539,637 $ 1,118 Government agency 229,436 374 — — 229,436 374 Mortgage-backed securities 3,570,470 23,275 280,126 6,094 3,850,596 29,369 Equity securities 728 10 — — 728 10 Other — — — — — — Total $ 5,340,271 $ 24,777 $ 280,126 $ 6,094 $ 5,620,397 $ 30,871 December 31, 2014 Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities available for sale: U.S. Treasury $ 338,612 $ 151 $ 1,015 $ 1 $ 339,627 $ 152 Government agency 261,288 247 — — 261,288 247 Mortgage-backed securities 573,374 1,805 831,405 10,042 1,404,779 11,847 Total $ 1,173,274 $ 2,203 $ 832,420 $ 10,043 $ 2,005,694 $ 12,246 Investment securities with an aggregate fair value of $280.1 million have had continuous unrealized losses for more than 12 months as of December 31, 2015 with an aggregate unrealized loss of $6.1 million . As of December 31, 2015 , all 39 of these investments are government sponsored enterprise-issued mortgage-backed securities. None of the unrealized losses identified as of December 31, 2015 or December 31, 2014 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 $4.73 billion at December 31, 2015 and $4.37 billion at December 31, 2014 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, 2015 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans and Leases | LOANS AND LEASES BancShares' accounting methods for loans and leases differ depending on whether they are purchased credit-impaired (PCI) or non-PCI. Non-PCI loans include originated commercial, originated noncommercial, purchased revolving, and purchased non-impaired loans. For purchased non-impaired loans to be included as non-PCI, it must be determined that the loans do not have a discount due, at least in part, to credit quality at the time of acquisition. Conversely, loans for which it is probable at acquisition that all required payments will not be collected in accordance with contractual terms are considered PCI loans. PCI loans are evaluated at acquisition and where a discount is required at least in part due to credit quality, the non-revolving loans are accounted for under the guidance in ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality . PCI loans 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. An allowance is recorded if there is additional credit deterioration after the acquisition date. Note A of BancShares' Notes to Consolidated Financial Statements provides additional information. BancShares reports PCI and non-PCI loan portfolios separately, and each portfolio is further divided into commercial and non-commercial based on the type of borrower, purpose, collateral, and/or our underlying credit management processes. Additionally, loans are assigned to loan classes, which further disaggregate loans based upon common risk characteristics. Commercial – Commercial loans include construction and land development, commercial mortgage, other commercial real estate, commercial and industrial, lease financing and other. Construction and land development – Construction and land development consists of loans to finance land for development, investment, and use in a commercial business enterprise; multifamily apartments; and other commercial buildings that may be owner-occupied or income generating investments for the owner. Commercial mortgage – Commercial mortgage consists of loans to purchase or refinance owner-occupied nonresidential and investment properties. Investment properties include office buildings and other facilities that are rented or leased to unrelated parties. Other commercial real estate – Other commercial real estate consists of loans secured by farmland (including residential farms and other improvements) and multifamily (5 or more) residential properties. Commercial and industrial – Commercial and industrial consists of loans or lines of credit to finance corporate credit cards, accounts receivable, inventory and other general business purposes. Lease financing – Lease financing consists solely of lease financing agreements for business equipment, vehicles and other assets. Other – Other consists of all other commercial loans not classified in one of the preceding classes. These typically include loans to non-profit organizations such as churches, hospitals, educational and charitable organizations. Noncommercial – Noncommercial consist of residential and revolving mortgage, construction and land development, and consumer loans. Residential mortgage – Residential real estate consists of loans to purchase, construct or refinance the borrower's primary dwelling, second residence or vacation home. Revolving mortgage – Revolving mortgage consists of home equity lines of credit that are secured by first or second liens on the borrower's primary residence. Construction and land development – Construction and land development consists of loans to construct the borrower's primary or secondary residence or vacant land upon which the owner intends to construct a single-family dwelling at a future date. Consumer – Consumer loans consist of installment loans to finance purchases of vehicles, unsecured home improvements and revolving lines of credit that can be secured or unsecured, including personal credit cards. Loans and leases outstanding include the following as of the dates indicated: (Dollars in thousands) December 31, 2015 December 31, 2014 Non-PCI loans and leases: Commercial: Construction and land development $ 620,352 $ 493,133 Commercial mortgage 8,274,548 7,552,948 Other commercial real estate 321,021 244,875 Commercial and industrial 2,368,958 1,988,934 Lease financing 730,778 571,916 Other 314,832 353,833 Total commercial loans 12,630,489 11,205,639 Noncommercial: Residential mortgage 2,695,985 2,493,058 Revolving mortgage 2,523,106 2,561,800 Construction and land development 220,073 205,016 Consumer 1,219,821 1,117,454 Total noncommercial loans 6,658,985 6,377,328 Total non-PCI loans and leases 19,289,474 17,582,967 PCI loans: Commercial: Construction and land development $ 33,880 $ 78,079 Commercial mortgage 525,468 577,518 Other commercial real estate 17,076 40,193 Commercial and industrial 15,182 27,254 Other 2,008 3,079 Total commercial loans 593,614 726,123 Noncommercial: Residential mortgage 302,158 382,340 Revolving mortgage 52,471 74,109 Construction and land development — 912 Consumer 2,273 3,014 Total noncommercial loans 356,902 460,375 Total PCI loans 950,516 1,186,498 Total loans and leases $ 20,239,990 $ 18,769,465 At December 31, 2015 , $272.6 million in total loans were covered under loss share agreements, compared to $485.3 million at December 31, 2014 . During 2015, loss share protection expired for non-single family residential loans acquired from Sun American Bank (SAB) and Williamsburg First National Bank (WFNB) and all loans acquired from First Regional Bank (FRB). The loan balances at December 31, 2015 for the expired agreements from SAB and WFNB were $26.7 million and $6.8 million , respectively. FRB loan balances at December 31, 2015 were insignificant. Loss share protection for United Western Bank (UWB), Atlantic Bank & Trust (ABT) and Colorado Capital Bank (CCB) non-single family residential loans with balances of $119.6 million , $9.7 million and $4.8 million , respectively, at December 31, 2015 will expire at the beginning of the second quarter of 2016, third quarter of 2016 and fourth quarter of 2016, respectively. The remaining decrease in covered loans is due to pay downs and payoffs. At December 31, 2015 , $8.58 billion in noncovered loans with a lendable collateral value of $6.08 billion were used to secure $510.3 million in FHLB of Atlanta advances, resulting in additional borrowing capacity of $5.57 billion . At December 31, 2014 , $3.16 billion in noncovered loans with a lendable collateral value of $2.20 billion were used to secure $240.3 million in FHLB of Atlanta advances, resulting additional borrowing capacity of $1.96 billion . To mitigate interest rate risk and credit risk, we sold $45.9 million of certain residential mortgage loans at par during 2015. The unamortized discount related to non-PCI loans and leases acquired in the Bancorporation merger was $41.1 million and $61.2 million at December 31, 2015 and December 31, 2014 , respectively. During the years ended December 31, 2015 and December 31, 2014 , accretion income on non-PCI loans was $18.7 million and $5.9 million , respectively. 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. Commercial and noncommercial loans and leases have different credit quality indicators as a result of the unique characteristics of the loan segment being evaluated. The credit quality indicators for non-PCI and PCI commercial loans and leases are developed through a review of individual borrowers on an ongoing basis. Each commercial loan is evaluated annually with more frequent evaluation of more severely criticized loans or leases. The credit quality indicators for PCI and non-PCI noncommercial loans are based on the delinquency status of the borrower. As the borrower becomes more delinquent, the likelihood of loss increases. 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 any 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 affected 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 ungraded loans at December 31, 2015 and December 31, 2014 relate to business credit cards. Business credit card loans are subject to automatic charge-off when they become 120 days past due in the same manner as unsecured consumer lines of credit. The remaining balance is comprised of a small amount of commercial mortgage and other commercial real estate loans. The composition of the loans and leases outstanding at December 31, 2015 , and December 31, 2014 , by credit quality indicator is provided below: Non-PCI commercial loans and leases (Dollars in thousands) Construction and land development Commercial mortgage Other commercial real estate Commercial and industrial Lease financing Other Total non-PCI commercial loans and leases Grade: December 31, 2015 Pass $ 611,314 $ 8,024,831 $ 318,187 $ 2,219,606 $ 719,338 $ 311,401 $ 12,204,677 Special mention 5,191 100,220 475 19,361 4,869 1,905 132,021 Substandard 3,847 146,071 959 21,322 6,375 1,526 180,100 Doubtful — 599 — 408 169 — 1,176 Ungraded — 2,827 1,400 108,261 27 — 112,515 Total $ 620,352 $ 8,274,548 $ 321,021 $ 2,368,958 $ 730,778 $ 314,832 $ 12,630,489 December 31, 2014 Pass $ 474,374 $ 7,284,714 $ 242,053 $ 1,859,415 $ 564,319 $ 349,111 $ 10,773,986 Special mention 13,927 129,247 909 27,683 3,205 1,384 176,355 Substandard 4,720 134,677 1,765 8,878 3,955 3,338 157,333 Doubtful — 2,366 — 164 365 — 2,895 Ungraded 112 1,944 148 92,794 72 — 95,070 Total $ 493,133 $ 7,552,948 $ 244,875 $ 1,988,934 $ 571,916 $ 353,833 $ 11,205,639 Non-PCI noncommercial loans and leases (Dollars in thousands) Residential mortgage Revolving mortgage Construction and land development Consumer Total non-PCI noncommercial December 31, 2015 Current $ 2,651,209 $ 2,502,065 $ 214,555 $ 1,210,832 $ 6,578,661 30-59 days past due 23,960 11,706 3,211 5,545 44,422 60-89 days past due 7,536 3,704 669 1,822 13,731 90 days or greater past due 13,280 5,631 1,638 1,622 22,171 Total $ 2,695,985 $ 2,523,106 $ 220,073 $ 1,219,821 $ 6,658,985 December 31, 2014 Current $ 2,454,797 $ 2,542,807 $ 202,344 $ 1,110,153 $ 6,310,101 30-59 days past due 23,288 11,097 1,646 4,577 40,608 60-89 days past due 6,018 2,433 824 1,619 10,894 90 days or greater past due 8,955 5,463 202 1,105 15,725 Total $ 2,493,058 $ 2,561,800 $ 205,016 $ 1,117,454 $ 6,377,328 PCI commercial loans (Dollars in thousands) Construction and land development Commercial mortgage Other commercial real estate Commercial and industrial Other Total PCI commercial loans Grade: December 31, 2015 Pass $ 14,710 $ 262,579 $ 7,366 $ 9,302 $ 706 $ 294,663 Special mention 758 87,870 60 937 — 89,625 Substandard 14,131 163,801 9,229 4,588 1,302 193,051 Doubtful 4,281 10,875 — 282 — 15,438 Ungraded — 343 421 73 — 837 Total $ 33,880 $ 525,468 $ 17,076 $ 15,182 $ 2,008 $ 593,614 December 31, 2014 Pass $ 13,514 $ 300,187 $ 11,033 $ 16,637 $ 801 $ 342,172 Special mention 6,063 98,724 16,271 4,137 — 125,195 Substandard 53,739 171,920 12,889 6,312 2,278 247,138 Doubtful 2,809 6,302 — 130 — 9,241 Ungraded 1,954 385 — 38 — 2,377 Total $ 78,079 $ 577,518 $ 40,193 $ 27,254 $ 3,079 $ 726,123 PCI noncommercial loans (Dollars in thousands) Residential mortgage Revolving mortgage Construction and land development Consumer Total PCI noncommercial December 31, 2015 Current $ 257,207 $ 47,901 $ — $ 1,981 $ 307,089 30-59 days past due 12,318 1,127 — 86 13,531 60-89 days past due 4,441 501 — 132 5,074 90 days or greater past due 28,192 2,942 — 74 31,208 Total $ 302,158 $ 52,471 $ — $ 2,273 $ 356,902 December 31, 2014 Current $ 326,589 $ 68,548 $ 506 2,582 $ 398,225 30-59 days past due 11,432 1,405 — 147 12,984 60-89 days past due 10,073 345 — 25 10,443 90 days or greater past due 34,246 3,811 406 260 38,723 Total $ 382,340 $ 74,109 $ 912 $ 3,014 $ 460,375 The aging of the outstanding non-PCI loans and leases, by class, at December 31, 2015 , and December 31, 2014 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 as 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. December 31, 2015 (Dollars in thousands) 30-59 days past due 60-89 days past due 90 days or greater Total past due Current Total loans and leases Non-PCI loans and leases: Construction and land development - commercial $ 987 $ 283 $ 463 $ 1,733 $ 618,619 $ 620,352 Commercial mortgage 13,023 3,446 14,495 30,964 8,243,584 8,274,548 Other commercial real estate 884 — 142 1,026 319,995 321,021 Commercial and industrial 2,133 1,079 1,780 4,992 2,363,966 2,368,958 Lease financing 2,070 2 164 2,236 728,542 730,778 Residential mortgage 23,960 7,536 13,280 44,776 2,651,209 2,695,985 Revolving mortgage 11,706 3,704 5,631 21,041 2,502,065 2,523,106 Construction and land development - noncommercial 3,211 669 1,638 5,518 214,555 220,073 Consumer 5,545 1,822 1,622 8,989 1,210,832 1,219,821 Other 3 164 134 301 314,531 314,832 Total non-PCI loans and leases $ 63,522 $ 18,705 $ 39,349 $ 121,576 $ 19,167,898 $ 19,289,474 December 31, 2014 30-59 days past due 60-89 days past due 90 days or greater Total past due Current Total loans and leases Non-PCI loans and leases: Construction and land development - commercial $ 520 $ 283 $ 330 $ 1,133 $ 492,000 $ 493,133 Commercial mortgage 11,367 4,782 8,061 24,210 7,528,738 7,552,948 Other commercial real estate 206 70 102 378 244,497 244,875 Commercial and industrial 2,843 1,545 378 4,766 1,984,168 1,988,934 Lease financing 1,631 8 2 1,641 570,275 571,916 Residential mortgage 23,288 6,018 8,955 38,261 2,454,797 2,493,058 Revolving mortgage 11,097 2,433 5,463 18,993 2,542,807 2,561,800 Construction and land development - noncommercial 1,646 824 202 2,672 202,344 205,016 Consumer 4,577 1,619 1,105 7,301 1,110,153 1,117,454 Other 146 1,966 — 2,112 351,721 353,833 Total non-PCI loans and leases $ 57,321 $ 19,548 $ 24,598 $ 101,467 $ 17,481,500 $ 17,582,967 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, 2015 and December 31, 2014 for non-PCI loans, were as follows: December 31, 2015 December 31, 2014 (Dollars in thousands) Nonaccrual loans and leases Loans and leases > 90 days and accruing Nonaccrual loans and leases Loans and leases > 90 days and accruing Non-PCI loans and leases: Construction and land development - commercial $ 425 $ 273 $ 343 $ 56 Commercial mortgage 42,116 242 24,720 1,003 Commercial and industrial 6,235 953 1,741 239 Lease financing 389 — 374 2 Other commercial real estate 239 — 619 35 Construction and land development - noncommercial 2,164 — — 202 Residential mortgage 29,977 838 14,242 3,191 Revolving mortgage 12,704 — — 5,463 Consumer 1,472 1,007 — 1,059 Other 133 2 1,966 — Total non-PCI loans and leases $ 95,854 $ 3,315 $ 44,005 $ 11,250 Purchased credit-impaired (PCI) loans The following table relates to PCI loans acquired in the CCBT merger for 2015 and in the Bancorporation and 1st Financial mergers for 2014. The table summarizes the contractually required payments, which include principal and interest, expected cash flows to be collected, and the fair value of PCI loans at the respective merger dates. (Dollars in thousands) 2015 2014 Contractually required payments $ 247,812 $ 828,156 Cash flows expected to be collected $ 207,688 $ 735,381 Fair value of loans at acquisition $ 154,496 $ 623,408 The recorded fair values of PCI loans acquired in the CCBT, Bancorporation and 1st Financial transaction as of their respective merger dates were as follows: (Dollars in thousands) 2015 2014 Commercial: Construction and land development $ 4,116 $ 69,789 Commercial mortgage 129,732 176,841 Other commercial real estate 3,202 15,425 Commercial and industrial 2,844 37,583 Other — 2,219 Total commercial loans 139,894 301,857 Noncommercial: Residential mortgage 13,251 287,675 Revolving mortgage — 29,777 Construction and land development — 199 Consumer 1,351 3,900 Total noncommercial loans 14,602 321,551 Total PCI loans $ 154,496 $ 623,408 The following table provides changes in the carrying value of purchased credit-impaired loans during the years ended December 31, 2015 and 2014 : (Dollars in thousands) 2015 2014 Balance at January 1 $ 1,186,498 $ 1,029,426 Fair value of PCI loans acquired during the year 154,496 623,408 Accretion 114,580 112,368 Payments received and other changes, net (505,058 ) (578,704 ) Balance at December 31 $ 950,516 $ 1,186,498 Unpaid principal balance at December 31 $ 1,693,372 $ 2,057,691 The carrying value of loans on the cost recovery method was $5.3 million at December 31, 2015 , and $33.4 million at December 31, 2014 . 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. The recorded investment of PCI loans on nonaccrual status was $7.6 million and $33.4 million at December 31, 2015 and December 31, 2014 , respectively. For PCI 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 2015 and 2014 . (Dollars in thousands) 2015 2014 Balance at January 1 $ 418,160 $ 439,990 Additions from acquisitions 53,192 111,973 Accretion (114,580 ) (112,368 ) Reclassifications from nonaccretable difference 25,357 7,865 Changes in expected cash flows that do not affect nonaccretable difference (38,273 ) (29,300 ) Balance at December 31 $ 343,856 $ 418,160 Purchased non-impaired loans and leases The following table relates to purchased non-impaired loans and leases acquired in the Bancorporation merger for 2014 and provides the contractually required payments, estimate of contractual cash flows not expected to be collected and fair value of the acquired loans at the merger date. (Dollars in thousands) 2014 Contractually required payments $ 4,708,681 Contractual cash flows not expected to be collected $ 59,187 Fair value at acquisition date $ 4,175,586 The recorded fair values of purchased non-impaired loans and leases acquired in the Bancorporation transaction as of the merger date were as follows: (Dollars in thousands) 2014 Commercial: Construction and land development $ 134,941 Commercial mortgage 951,794 Other commercial real estate 61,856 Commercial and industrial 431,367 Lease financing 72,563 Other 95,379 Total commercial loans and leases 1,747,900 Noncommercial: Residential mortgage 1,305,140 Revolving mortgage 419,106 Construction and land development 7,165 Consumer 696,275 Total noncommercial loans and leases 2,427,686 Total non-PCI loans $ 4,175,586 |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses | 12 Months Ended |
Dec. 31, 2015 | |
Loans and Leases Receivable, Allowance [Abstract] | |
Allowance for Loan and Lease Losses | The following tables provide information on non-PCI 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. December 31, 2015 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Construction and land development - commercial $ 1,623 $ 1,471 $ 3,094 $ 4,428 $ 123 Commercial mortgage 41,793 53,314 95,107 103,763 3,370 Other commercial real estate 305 122 427 863 289 Commercial and industrial 8,544 9,366 17,910 21,455 1,118 Lease financing 1,651 104 1,755 1,956 213 Other — 1,183 1,183 1,260 — Residential mortgage 10,097 12,889 22,986 25,043 1,212 Revolving mortgage 1,105 4,778 5,883 7,120 299 Construction and land development - noncommercial 693 91 784 784 49 Consumer 1,050 188 1,238 1,294 527 Total non-PCI impaired loans and leases $ 66,861 $ 83,506 $ 150,367 $ 167,966 $ 7,200 December 31, 2014 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Construction and land development - commercial $ 996 $ 624 $ 1,620 $ 6,945 $ 92 Commercial mortgage 57,324 25,479 82,803 87,702 8,610 Other commercial real estate 112 472 584 913 112 Commercial and industrial 10,319 721 11,040 12,197 1,743 Lease financing 319 304 623 623 150 Other 2,000 — 2,000 2,000 1,972 Residential mortgage 10,198 4,715 14,913 15,746 1,360 Revolving mortgage 3,675 — 3,675 4,933 1,052 Construction and land development - noncommercial 1,077 263 1,340 1,340 71 Consumer 987 8 995 1,067 555 Total non-PCI impaired loans and leases $ 87,007 $ 32,586 $ 119,593 $ 133,466 $ 15,717 The following tables show the average non-PCI impaired loan balance and the interest income recognized by loan class for the years ended December 31, 2015 , 2014 and 2013 : Year ended December 31, 2015 (Dollars in thousands) YTD Average Balance YTD Interest Income Recognized Non-PCI impaired loans and leases: Construction and land development - commercial $ 3,164 $ 146 Commercial mortgage 89,934 3,129 Other commercial real estate 481 12 Commercial and industrial 14,587 510 Lease financing 1,718 74 Other 1,673 37 Residential mortgage 18,524 557 Revolving mortgage 4,368 97 Construction and land development - noncommercial 829 38 Consumer 1,126 75 Total non-PCI impaired loans and leases $ 136,404 $ 4,675 Year ended December 31, 2014 Non-PCI impaired loans and leases: Construction and land development - commercial $ 1,689 $ 83 Commercial mortgage 86,250 3,698 Other commercial real estate 2,125 80 Commercial and industrial 13,433 580 Lease financing 774 44 Other 528 29 Residential mortgage 15,487 593 Revolving mortgage 3,922 134 Construction and land development - noncommercial 1,678 98 Consumer 1,535 88 Total non-PCI impaired loans and leases $ 127,421 $ 5,427 Year ended December 31, 2013 Non-PCI 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 non-PCI impaired loans and leases $ 151,330 $ 7,817 ALLOWANCE FOR LOAN AND LEASE LOSSES Activity in the allowance for loan and lease losses is as follows: Non-PCI PCI Total (dollars in thousands) Balance at December 31, 2012 $ 179,046 $ 139,972 $ 319,018 Reclassification (1) 7,368 — 7,368 Provision (credit) 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 Provision (credit) for loan and lease losses 15,260 (14,620 ) 640 Loans and leases charged off (20,499 ) (17,271 ) (37,770 ) Loans and leases recovered 8,202 — 8,202 Net charge-offs (12,297 ) (17,271 ) (29,568 ) Balance at December 31, 2014 182,837 21,629 204,466 Provision (credit) for loan and lease losses 22,937 (2,273 ) 20,664 Loans and leases charged off (25,304 ) (3,044 ) (28,348 ) Loans and leases recovered 9,434 — 9,434 Net charge-offs (15,870 ) (3,044 ) (18,914 ) Balance at December 31, 2015 $ 189,904 $ 16,312 $ 206,216 (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: For the years ended December 31, 2015, 2014 and 2013 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial Lease financing Other Residential mortgage Revolving mortgage Construction and land development - non- commercial Consumer Non- specific Total Non-PCI Loans Allowance for loan and lease losses: Balance at January 1, 2013 $ 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 (credits) 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 Provision (credits) 1,735 (16,746 ) (401 ) 10,441 (473 ) 3,007 1,219 6,301 245 9,932 — 15,260 Charge-offs (316 ) (1,147 ) — (3,014 ) (100 ) (13 ) (1,260 ) (4,744 ) (118 ) (9,787 ) — (20,499 ) Recoveries 207 2,825 124 938 110 — 191 854 84 2,869 — 8,202 Balance at December 31, 2014 11,961 85,189 732 30,727 4,286 3,184 10,661 18,650 892 16,555 — 182,837 Provision (credits) 4,773 (15,822 ) 1,569 17,432 1,602 (1,420 ) 4,202 (927 ) 541 10,987 — 22,937 Charge-offs (1,012 ) (1,498 ) (178 ) (5,952 ) (402 ) — (1,619 ) (2,925 ) (22 ) (11,696 ) — (25,304 ) Recoveries 566 2,027 45 909 38 91 861 1,173 74 3,650 — 9,434 Balance at December 31, 2015 $ 16,288 $ 69,896 $ 2,168 $ 43,116 $ 5,524 $ 1,855 $ 14,105 $ 15,971 $ 1,485 $ 19,496 $ — $ 189,904 (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 . December 31, 2015 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial Lease financing Other Residential mortgage Revolving mortgage Construction and land development - non-commercial Consumer Total Non-PCI Loans Allowance for loan and lease losses: ALLL for loans and leases individually evaluated for impairment $ 123 $ 3,370 $ 289 $ 1,118 $ 213 $ — $ 1,212 $ 299 $ 49 $ 527 $ 7,200 ALLL for loans and leases collectively evaluated for impairment 16,165 66,526 1,879 41,998 5,311 1,855 12,893 15,672 1,436 18,969 182,704 Total allowance for loan and lease losses $ 16,288 $ 69,896 $ 2,168 $ 43,116 $ 5,524 $ 1,855 $ 14,105 $ 15,971 $ 1,485 $ 19,496 $ 189,904 Loans and leases: Loans and leases individually evaluated for impairment $ 3,094 $ 95,107 $ 427 $ 17,910 $ 1,755 $ 1,183 $ 22,986 $ 5,883 $ 784 $ 1,238 $ 150,367 Loans and leases collectively evaluated for impairment 617,258 8,179,441 320,594 2,351,048 729,023 313,649 2,672,999 2,517,223 219,289 1,218,583 19,139,107 Total loan and leases $ 620,352 $ 8,274,548 $ 321,021 $ 2,368,958 $ 730,778 $ 314,832 $ 2,695,985 $ 2,523,106 $ 220,073 $ 1,219,821 $ 19,289,474 December 31, 2014 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial Lease financing Other Residential mortgage Revolving mortgage Construction and land development - non-commercial Consumer Total Non-PCI Loans Allowance for loan and lease losses: ALLL for loans and leases individually evaluated for impairment $ 92 $ 8,610 $ 112 $ 1,743 $ 150 $ 1,972 $ 1,360 $ 1,052 $ 71 $ 555 $ 15,717 ALLL for loans and leases collectively evaluated for impairment $ 11,869 $ 76,579 $ 620 $ 28,984 $ 4,136 $ 1,212 $ 9,301 $ 17,598 $ 821 $ 16,000 $ 167,120 Total allowance for loan and lease losses $ 11,961 $ 85,189 $ 732 $ 30,727 $ 4,286 $ 3,184 $ 10,661 $ 18,650 $ 892 $ 16,555 $ 182,837 Loans and leases: Loans and leases individually evaluated for impairment $ 1,620 $ 82,803 $ 584 $ 11,040 $ 623 $ 2,000 $ 14,913 $ 3,675 $ 1,340 $ 995 $ 119,593 Loans and leases collectively evaluated for impairment 491,513 7,470,145 244,291 1,977,594 571,293 351,833 2,478,145 2,558,125 203,676 1,116,459 17,463,074 Total loan and leases $ 493,133 $ 7,552,948 $ 244,875 $ 1,988,634 $ 571,916 $ 353,833 $ 2,493,058 $ 2,561,800 $ 205,016 $ 1,117,454 $ 17,582,667 For the years ended December 31, 2015, 2014 and 2013 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial Residential mortgage Revolving mortgage Construction and land development - noncommercial Consumer and other Total PCI Loans Allowance for loan and lease losses: Balance at January 1, 2013 $ 31,186 $ 50,275 $ 11,234 $ 8,897 $ 19,837 $ 9,754 $ 8,287 $ 502 $ 139,972 Provision (credits) (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 Provision (credits) 1,284 (7,903 ) (1,385 ) (2,023 ) (5,576 ) 1,523 (395 ) (145 ) (14,620 ) Charge-offs (2,454 ) (11,868 ) 106 (2,012 ) (406 ) (483 ) (104 ) (50 ) (17,271 ) Recoveries — — — — — — — — — Balance at December 31, 2014 150 10,135 75 1,240 5,820 3,999 183 27 21,629 Provision (credits) 1,029 (1,426 ) 698 (470 ) 72 (2,720 ) (183 ) 727 (2,273 ) Charge-offs (97 ) (871 ) — (325 ) (494 ) (756 ) — (501 ) (3,044 ) Recoveries — — — — — — — — — Balance at December 31, 2015 $ 1,082 $ 7,838 $ 773 $ 445 $ 5,398 $ 523 $ — $ 253 $ 16,312 December 31, 2015 ALLL for loans and leases acquired with deteriorated credit quality $ 1,082 $ 7,838 $ 773 $ 445 $ 5,398 $ 523 $ — $ 253 $ 16,312 Loans and leases acquired with deteriorated credit quality 33,880 525,468 17,076 15,182 302,158 52,471 — 4,281 950,516 December 31, 2014 ALLL for loans and leases acquired with deteriorated credit quality 150 10,135 75 1,240 5,820 3,999 183 27 21,629 Loans and leases acquired with deteriorated credit quality 78,079 577,518 40,193 27,254 382,340 74,109 912 6,093 1,186,498 At December 31, 2015 and December 31, 2014 , $469.3 million and $285.6 million , respectively, in PCI loans experienced an adverse change in expected cash flows since the date of acquisition. The corresponding valuation reserve was $16.3 million and $21.6 million , respectively. The following tables provide information on non-PCI 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. December 31, 2015 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Construction and land development - commercial $ 1,623 $ 1,471 $ 3,094 $ 4,428 $ 123 Commercial mortgage 41,793 53,314 95,107 103,763 3,370 Other commercial real estate 305 122 427 863 289 Commercial and industrial 8,544 9,366 17,910 21,455 1,118 Lease financing 1,651 104 1,755 1,956 213 Other — 1,183 1,183 1,260 — Residential mortgage 10,097 12,889 22,986 25,043 1,212 Revolving mortgage 1,105 4,778 5,883 7,120 299 Construction and land development - noncommercial 693 91 784 784 49 Consumer 1,050 188 1,238 1,294 527 Total non-PCI impaired loans and leases $ 66,861 $ 83,506 $ 150,367 $ 167,966 $ 7,200 December 31, 2014 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Construction and land development - commercial $ 996 $ 624 $ 1,620 $ 6,945 $ 92 Commercial mortgage 57,324 25,479 82,803 87,702 8,610 Other commercial real estate 112 472 584 913 112 Commercial and industrial 10,319 721 11,040 12,197 1,743 Lease financing 319 304 623 623 150 Other 2,000 — 2,000 2,000 1,972 Residential mortgage 10,198 4,715 14,913 15,746 1,360 Revolving mortgage 3,675 — 3,675 4,933 1,052 Construction and land development - noncommercial 1,077 263 1,340 1,340 71 Consumer 987 8 995 1,067 555 Total non-PCI impaired loans and leases $ 87,007 $ 32,586 $ 119,593 $ 133,466 $ 15,717 The following tables show the average non-PCI impaired loan balance and the interest income recognized by loan class for the years ended December 31, 2015 , 2014 and 2013 : Year ended December 31, 2015 (Dollars in thousands) YTD Average Balance YTD Interest Income Recognized Non-PCI impaired loans and leases: Construction and land development - commercial $ 3,164 $ 146 Commercial mortgage 89,934 3,129 Other commercial real estate 481 12 Commercial and industrial 14,587 510 Lease financing 1,718 74 Other 1,673 37 Residential mortgage 18,524 557 Revolving mortgage 4,368 97 Construction and land development - noncommercial 829 38 Consumer 1,126 75 Total non-PCI impaired loans and leases $ 136,404 $ 4,675 Year ended December 31, 2014 Non-PCI impaired loans and leases: Construction and land development - commercial $ 1,689 $ 83 Commercial mortgage 86,250 3,698 Other commercial real estate 2,125 80 Commercial and industrial 13,433 580 Lease financing 774 44 Other 528 29 Residential mortgage 15,487 593 Revolving mortgage 3,922 134 Construction and land development - noncommercial 1,678 98 Consumer 1,535 88 Total non-PCI impaired loans and leases $ 127,421 $ 5,427 Year ended December 31, 2013 Non-PCI 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 non-PCI impaired loans and leases $ 151,330 $ 7,817 Troubled Debt Restructurings BancShares accounts for certain loan modifications or restructurings as 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 , excluding pooled loans, are not initially considered to be TDRs, but can be classified as such if a modification is made subsequent to acquisition. Subsequent modification of a PCI loan accounted for in a pool that would otherwise meet the definition of a TDR is not reported, or accounted for, as a TDR since pooled PCI loans are excluded from the scope of TDR accounting. The following table provides a summary of total TDRs by accrual status. December 31, 2015 December 31, 2014 (Dollars in thousands) Accruing Nonaccruing Total Accruing Nonaccruing Total Commercial loans Construction and land development - commercial $ 3,624 $ 257 $ 3,881 $ 2,591 $ 446 $ 3,037 Commercial mortgage 65,812 18,728 84,540 92,184 8,937 101,121 Other commercial real estate 1,751 89 1,840 2,374 449 2,823 Commercial and industrial 8,833 3,341 12,174 9,864 664 10,528 Lease 1,191 169 1,360 258 365 623 Other 1,183 — 1,183 34 — 34 Total commercial loans 82,394 22,584 104,978 107,305 10,861 118,166 Noncommercial Residential 25,427 7,129 32,556 22,597 4,655 27,252 Revolving mortgage 3,600 1,705 5,305 3,675 — 3,675 Construction and land development - noncommercial 784 — 784 1,391 — 1,391 Consumer and other 1,091 129 1,220 995 — 995 Total noncommercial loans 30,902 8,963 39,865 28,658 4,655 33,313 Total loans $ 113,296 $ 31,547 $ 144,843 $ 135,963 $ 15,516 $ 151,479 Total troubled debt restructurings at December 31, 2015 , were $144.8 million , of which $30.6 million were PCI and $114.2 million were non-PCI. TDRs at December 31, 2014 , were $151.5 million , which consisted of $46.9 million PCI and $104.6 million non-PCI. The majority of TDRs are included in the special mention, substandard or doubtful grading categories, which results in more elevated loss expectations when projecting 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 or analysis of cash flows. The following tables provide the types of TDRs made during the year ended December 31, 2015 , and 2014 , as well as a summary of loans that were modified as a TDR during the year ended December 31, 2015 , and 2014 that subsequently defaulted during the year ended December 31, 2015 , and 2014 . BancShares defines payment default as movement of the TDR to nonaccrual status, which is generally 90 days past due for TDRs, foreclosure or charge-off, whichever occurs first. Year ended December 31, 2015 Year ended December 31, 2014 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) Non-PCI loans and leases Interest only period provided Commercial mortgage 3 $ 185 — $ — 6 $ 1,973 2 $ 364 Commercial and industrial 2 776 — — 3 250 — — Lease financing — — — — 2 118 — — Construction and land development - noncommercial 1 91 — — — — — — Other — — — — 1 34 — — Total interest only 6 1,052 — — 12 2,375 2 364 Loan term extension Construction and land development - commercial 1 18 1 18 2 187 — — Commercial mortgage 12 3,144 2 316 18 4,848 — — Commercial and industrial 5 1,380 — — 5 2,274 — — Lease financing 4 146 — — 6 198 — — Residential mortgage 1 110 — — 19 572 — — Revolving mortgage 1 8 — — — — — — Construction and land development - noncommercial — — — — 7 226 — — Consumer 3 52 — 6 99 1 — Total loan term extension 27 4,858 3 334 63 8,404 1 — Below market interest rate Construction and land development - commercial 21 992 3 122 11 372 — — Commercial mortgage 37 13,900 3 3,969 44 12,642 3 441 Commercial and industrial 15 2,301 2 1,619 13 751 — — Other commercial real estate 2 122 — — 1 337 — — Residential mortgage 116 5,695 14 607 41 2,444 1 45 Revolving mortgage 6 136 — — 5 217 — — Construction & land development - noncommercial 2 253 — — 12 389 — — Consumer 18 146 2 10 10 193 — — Other 1 1,183 — — — — — — Total below market interest rate 218 24,728 24 6,327 137 17,345 4 486 Discharged from bankruptcy Construction and land development - commercial 4 38 1 3 — — — — Commercial mortgage 4 1,897 2 644 2 949 1 — Commercial and industrial 3 146 — — — — — — Residential mortgage 29 1,454 4 242 12 1,067 2 268 Revolving mortgage 56 2,714 9 701 17 663 1 — Construction & land development - noncommercial — — — — 1 62 1 62 Consumer 25 296 7 75 4 4 — — Total discharged from bankruptcy 121 6,545 23 1,665 36 2,745 5 330 Total non-PCI restructurings 372 $ 37,183 50 $ 8,326 248 $ 30,869 12 $ 1,180 Year ended December 31, 2015 Year ended December 31, 2014 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) PCI loans Interest only period provided Commercial mortgage — $ — — $ — 2 $ — 2 $ — Total interest only — — — — 2 — 2 — Loan term extension Construction and land development - commercial — — — — 1 332 — — Residential mortgage 1 178 — — 2 317 5 53 Construction and land development - noncommercial — — — — 1 51 — — Total loan term extension 1 178 — — 4 700 5 53 Below market interest rate Construction and land development - commercial — — — — 2 116 — — Commercial mortgage — — — — 16 5,783 3 138 Residential mortgage 14 1,187 2 96 29 3,948 3 23 Total below market interest rate 14 1,187 2 96 47 9,847 6 161 Discharged from bankruptcy Residential mortgage 2 282 — — 26 1,659 2 — Revolving mortgage 1 105 — — — — — — Total discharged from bankruptcy 3 387 — — 26 1,659 2 — Total PCI restructurings 18 $ 1,752 2 $ 96 79 $ 12,206 15 $ 214 |
Premises and Equipment (Notes)
Premises and Equipment (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | PREMISES AND EQUIPMENT Major classifications of premises and equipment at December 31, 2015 and 2014 are summarized as follows: (Dollars in thousands) 2015 2014 Land $ 279,932 $ 284,682 Premises and leasehold improvements 1,089,644 1,056,126 Furniture and equipment 441,378 444,774 Total 1,810,954 1,785,582 Less accumulated depreciation and amortization 675,125 660,501 Total premises and equipment $ 1,135,829 $ 1,125,081 There were no premises pledged to secure borrowings at December 31, 2015 and 2014 . 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, 2015 : (Dollars in thousands) Year ended December 31 2016 $ 18,543 2017 14,415 2018 11,017 2019 8,040 2020 5,589 Thereafter 43,407 Total minimum payments $ 101,011 Total rent expense for all operating leases amounted to $13.8 million in 2015 , $18.5 million in 2014 and $21.4 million in 2013 , net of rent income, which was $6.4 million , $2.7 million and $1.8 million during 2015 , 2014 and 2013 , respectively. |
Other Real Estate Owned
Other Real Estate Owned | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Other Real Estate Owned | OTHER REAL ESTATE OWNED (OREO) The following table explains changes in other real estate owned during 2015 and 2014 . (Dollars in thousands) Covered Noncovered Total Balance at January 1, 2014 $ 47,081 $ 36,898 $ 83,979 Additions 29,708 36,574 66,282 Additions acquired in the Bancorporation merger 1,336 34,008 35,344 Additions acquired in the 1st Financial merger — 11,591 11,591 Sales (38,753 ) (48,935 ) (87,688 ) Writedowns (10,853 ) (5,219 ) (16,072 ) Transfers (1) (5,537 ) 5,537 — Balance at December 31, 2014 22,982 70,454 93,436 Additions 7,357 47,866 55,223 Sales (19,629 ) (56,853 ) (76,482 ) Writedowns (1,478 ) (5,140 ) (6,618 ) Transfers (1) (2,415 ) 2,415 — Balance at December 31, 2015 $ 6,817 $ 58,742 $ 65,559 (1) Transfers include OREO balances associated with expired loss share agreements. At December 31, 2015 and December 31, 2014 , BancShares had $16.1 million and $29.0 million , respectively, of foreclosed residential real estate property in OREO. The recorded investment in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure totaled $15.6 million and $24.8 million at December 31, 2015 and December 31, 2014 , respectively. |
Receivable from FDIC for Loss S
Receivable from FDIC for Loss Share Agreements | 12 Months Ended |
Dec. 31, 2015 | |
FDIC Loss Share Receivable [Abstract] | |
Receivable from FDIC for Loss Share Agreements | FDIC LOSS SHARE RECEIVABLE The following table provides changes in the receivable from the FDIC for the years ended December 31, 2015, 2014 and 2013: Year ended December 31 (Dollars in thousands) 2015 2014 2013 Balance at January 1 $ 28,701 $ 93,397 $ 270,192 Additional receivable from Bancorporation merger — 5,106 — Amortization (10,899 ) (43,422 ) (85,651 ) Net cash payments to (from) the FDIC 33,296 1,286 (19,373 ) Post-acquisition adjustments (47,044 ) (27,666 ) (71,771 ) Balance at December 31 $ 4,054 $ 28,701 $ 93,397 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 based on the expected reimbursements for losses and the applicable loss share percentages. See Note U for information related to BancShares' recorded payable to the FDIC for loss share agreements. Amortization reflects changes in the FDIC loss share receivable due to improvements in expected cash flows that are being recognized over the remaining term of the loss share agreement. Cash payments to (from) the FDIC represent the net impact of loss share loan recoveries, charge-offs and related expenses as calculated and reported in FDIC loss share certificates. 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 ALLL 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 ALLL 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 some or all previously recorded provision for loan and lease losses, a decrease in the related ALLL and a proportional adjustment 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. The loss share agreements for non-single family residential loans for Temecula Valley Bank, Venture Bank and Georgian Bank expired during 2014. At the beginning of the second quarter of 2015, the loss share agreements for First Regional Bank and non-single family residential loans acquired from Sun American Bank expired. The loss share agreement for non-single family residential loans for Williamsburg First National Bank expired at the beginning of the fourth quarter of 2015. During 2016, the loss share agreements for non-single family residential loans for United Western Bank, Atlantic Bank & Trust and Colorado Capital Bank will expire at the beginning of the second, third and fourth quarters, respectively. |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2015 | |
Deposits [Abstract] | |
Deposits | DEPOSITS Deposits at December 31 are summarized as follows: (Dollars in thousands) 2015 2014 Demand $ 9,274,470 $ 8,086,784 Checking with interest 4,445,353 4,091,333 Money market accounts 8,205,705 8,264,811 Savings 1,909,021 1,728,504 Time 3,096,206 3,507,145 Total deposits $ 26,930,755 $ 25,678,577 Time deposits with a denomination exceeding $250,000 were $578.1 million and $552.3 million at December 31, 2015 and 2014 , respectively. At December 31, 2015 , the scheduled maturities of time deposits were: (Dollars in thousands) Year ended December 31 2016 $ 2,359,710 2017 453,560 2018 114,448 2019 111,857 2020 56,631 Thereafter — Total time deposits $ 3,096,206 |
Short-Term Borrowings
Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2015 | |
Short-term Debt [Abstract] | |
Short-term Borrowings | SHORT-TERM BORROWINGS Short-term borrowings at December 31 are as follows: (Dollars in thousands) 2015 2014 Master notes $ — $ 410,258 Repurchase agreements 592,182 294,426 Notes payable to Federal Home Loan Banks — 80,000 Federal funds purchased 2,551 2,551 Subordinated notes payable — 199,949 Total short-term borrowings $ 594,733 $ 987,184 At December 31, 2015 , BancShares had unused credit lines allowing contingent access to overnight borrowings of up to $740.0 million on an unsecured basis. Additionally, under borrowing arrangements with the Federal Home Loan Bank of Atlanta, BancShares has access to an additional $5.57 billion on a secured basis. The master notes product, or investments used by commercial customers as an investment option through a sweep account, was discontinued during 2015, resulting in a migration to repurchase agreements. Additionally, $80.0 million in FHLB borrowings and $199.9 million in subordinated debt matured in 2015. |
Repurchase Agreements (Notes)
Repurchase Agreements (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Repurchase Agreements [Abstract] | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | NOTE K REPURCHASE AGREEMENTS We utilize securities sold under agreements to repurchase to facilitate the needs of our customers and secure long-term funding needs. Repurchase agreements are transactions whereby we offer to sell to a counterparty an undivided interest in an eligible security at an agreed upon purchase price, and which obligates BancShares to repurchase the security on an agreed upon date at an agreed upon repurchase price plus interest at an agreed upon rate. Securities sold under agreements to repurchase are recorded at the amount of cash received in connection with the transaction and are generally reflected as short-term borrowings on the Consolidated Balance Sheets. We monitor collateral levels on a continuous basis and maintain records of each transaction specifically describing the applicable security and the counterparty’s fractional interest in that security, and we segregate the security from our general assets in accordance with regulations governing custodial holdings of securities. The primary risk with our repurchase agreements is market risk associated with the investments securing the transactions, as we may be required to provide additional collateral based on fair value changes of the underlying investments. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents. The carrying value of available for sale investment securities pledged as collateral under repurchase agreements was $722.0 million and $418.3 million at December 31, 2015 and December 31, 2014 , respectively. The remaining contractual maturity of the securities sold under agreements to repurchase by class of collateral pledged included in short-term borrowings in the Consolidated Balance Sheets as of December 31, 2015 and December 31, 2014 is presented in the following tables. December 31, 2015 Remaining Contractual Maturity of the Agreements (Dollars in thousands) Overnight and continuous Up to 30 Days 30-90 Days Greater than 90 Days Total Repurchase agreements: U.S. Treasury $ 592,182 $ — $ — $ 25,724 $ 617,906 Government agency — — — 4,276 4,276 Total borrowings $ 592,182 $ — $ — $ 30,000 $ 622,182 Gross amount of recognized liabilities for repurchase agreements $ 622,182 December 31, 2014 Remaining Contractual Maturity of the Agreements Overnight and continuous Up to 30 Days 30-90 Days Greater than 90 Days Total Repurchase agreements: U.S. Treasury $ 162,925 $ — $ — $ 23,086 $ 186,011 Government agency — — — 6,914 6,914 Mortgage-backed securities 131,501 — — — 131,501 Total borrowings $ 294,426 $ — $ — $ 30,000 $ 324,426 Gross amount of recognized liabilities for repurchase agreements $ 324,426 |
Long-Term Obligations
Long-Term Obligations | 12 Months Ended |
Dec. 31, 2015 | |
Long-term Obligations [Abstract] | |
Long-term Obligations | LONG-TERM OBLIGATIONS Long-term obligations at December 31 include: (Dollars in thousands) 2015 2014 Junior subordinated debenture at 3-month LIBOR plus 1.75 percent maturing June 30, 2036 $ 96,392 $ 96,392 Junior subordinated debenture at 3-month LIBOR plus 2.25 percent maturing June 15, 2034 25,774 26,547 Junior subordinated debenture at 3-month LIBOR plus 2.85 percent maturing April 7, 2034 10,310 10,310 Subordinated notes payable 8.00 percent June 1, 2018 15,000 15,000 Obligations under capitalized leases extending to July 2026 9,226 3,150 Notes payable to Federal Home Loan Bank of Atlanta with rates ranging from 2.00 percent to 3.58 percent and maturing through March 2024 510,252 160,268 Note payable to the Federal Home Loan Bank of Des Moines (1) with a rate of 4.74 percent and a maturity date of July 2017 10,000 10,000 Unamortized purchase accounting adjustments (2,907 ) (466 ) Other long-term debt 30,108 30,119 Total long-term obligations $ 704,155 $ 351,320 (1) The Federal Home Loan Bank (FHLB) of Seattle merged with and into the FHLB of Des Moines effective May 31, 2015. As a result, the note payable to the FHLB of Seattle at December 31, 2014 was owed to the FHLB of Des Moines at December 31, 2015. At December 31, 2015 , long-term obligations included $132.5 million in junior subordinated debentures representing obligations to FCB/NC Capital Trust III, FCB/SC Capital Trust II, and SCB Capital Trust I, special purpose entities and grantor trusts for $128.5 million of trust preferred securities. FCB/NC Capital Trust III, FCB/SC Capital Trust II and SCB Capital Trust I's (the Trusts) trust preferred securities mature in 2036, 2034 and 2034, respectively, and may be redeemed at par in whole or in part at any time. BancShares has guaranteed all obligations of the Trusts. Long-term obligations maturing in each of the five years subsequent to December 31, 2015 and thereafter, include: Year ended December 31 2016 $ 3,401 2017 13,440 2018 135,232 2019 246 2020 261 Thereafter 551,575 Total long-term obligations $ 704,155 |
Estimated Fair Values
Estimated Fair Values | 12 Months Ended |
Dec. 31, 2015 | |
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 flows 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. ASC 820, Fair Value Measurements and Disclosures , indicates that 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 within the fair value hierarchy for an asset or liability is based on the highest 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. Valuation adjustments, such as those pertaining to counterparty and BancShares' own credit quality and liquidity, may be necessary to ensure that assets and liabilities are recorded at fair value. Credit valuation adjustments are made when market pricing does not accurately reflect the counterparty's credit quality. As determined by BancShares management, liquidity valuation adjustments may be made to the fair value of certain assets to reflect the uncertainty in the pricing and trading of the instruments when we are unable to observe recent market transactions for identical or similar instruments. BancShares management reviews any changes to its valuation methodologies to ensure they are appropriate and justified, and refines valuation methodologies as more market-based data becomes available. Transfers between levels of the fair value hierarchy are recognized at the end of the reporting period. The methodologies used to estimate the fair value of financial assets and financial liabilities are discussed below: Investment securities available for sale . U.S.Treasury, government agency, mortgage-backed securities, municipal securities and trust preferred securities are generally measured at fair value using a third party pricing service or recent comparable market transactions in similar or identical securities and are classified as level 2 instruments. Equity securities are measured at fair value using observable closing prices and the valuation also considers the amount of market activity by examining the trade volume of each security. Equity securities are classified as Level 1 if they are traded on a heavily active market and as Level 2 if the observable closing price is from a less than active market. Loans held for sale. Certain residential real estate loans are originated to be sold to investors, which are carried at fair value as BancShares elected the fair value option on loans held for sale in 2014. The fair value is based on quoted market prices for similar types of loans. Accordingly, the inputs used to calculate fair value of residential real estate loans held for sale are classified as level 2 inputs. Net loans and leases (PCI and Non-PCI). Fair value is 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. An additional valuation adjustment is made for liquidity. The inputs used in the fair value measurements for loans and leases are considered level 3 inputs. 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. The inputs used in the fair value measurement for the FHLB stock are considered level 2 inputs. Mortgage servicing rights. Mortgage servicing rights are carried at the lower of amortized cost or market and are, therefore, carried at fair value only when fair value is less than the asset cost. The fair value of mortgage servicing rights is performed using a pooling methodology. Similar loans are pooled together and a model that relies on discount rates, estimates of prepayment rates and the weighted average cost to service the loans is used to determine the fair value. The inputs used in the fair value measurement for mortgage servicing rights are considered level 3 inputs. Deposits. For non-time deposits, carrying value is a reasonable estimate of fair value. The fair value of 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 measurement 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 if available. 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 measurement 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 using current discount rates based on the expiration date of each loss share agreement to reflect the timing of the estimated amounts due to the FDIC. The inputs used in the fair value measurement for the payable to the FDIC are considered level 3 inputs. 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. The inputs used in the fair value measurement 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, 2015 and December 31, 2014 . 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. Cash and due from banks is classified on the fair value hierarchy as level 1. Overnight investments, income earned not collected, short-term borrowings and accrued interest payable are considered level 2. Lastly, the receivable from the FDIC for loss share agreements is designated as level 3. December 31, 2015 December 31, 2014 (Dollars in thousands) Carrying value Fair value Carrying value Fair value Cash and due from banks $ 534,086 $ 534,086 $ 604,182 $ 604,182 Overnight investments 2,063,132 2,063,132 1,724,919 1,724,919 Investment securities available for sale 6,861,293 6,861,293 7,171,917 7,171,917 Investment securities held to maturity 255 265 518 544 Loans held for sale 59,766 59,766 63,696 63,696 Net loans and leases 20,033,774 19,353,325 18,564,999 18,046,497 Receivable from the FDIC for loss share agreements (1) 4,054 4,054 28,701 18,218 Income earned not collected 70,036 70,036 57,254 57,254 Federal Home Loan Bank stock 37,511 37,511 39,113 39,113 Mortgage servicing rights 19,351 19,495 16,688 16,736 Deposits 26,930,755 26,164,472 25,678,577 25,164,683 Short-term borrowings 594,733 594,733 987,184 987,184 Long-term obligations 704,155 718,102 351,320 367,732 Payable to the FDIC for loss share agreements 126,453 131,894 116,535 122,168 Accrued interest payable 5,713 5,713 8,194 8,194 Interest rate swap 1,429 1,429 4,337 4,337 (1) At December 31, 2015, the carrying value of the FDIC receivable approximates the fair value due to the short-term nature of the majority of loss share agreements. At December 31, 2014, the fair value of the FDIC receivable is estimated based on discounted future cash flows using current discount rates and excludes receivable related to accretable yield to be amortized in prospective periods. Among BancShares’ assets and liabilities, investment securities available for sale, loans held for sale and interest rate swaps accounted for as cash flow hedges are reported at their fair values 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, 2015 and December 31, 2014 . December 31, 2015 Fair value measurements using: (Dollars in thousands) Fair value Level 1 Level 2 Level 3 Assets measured at fair value Investment securities available for sale U.S. Treasury $ 1,674,882 $ — $ 1,674,882 $ — Government agency 498,660 — 498,660 — Mortgage-backed securities 4,668,198 — 4,668,198 — Equity securities 8,893 1,668 7,225 — Other 10,660 — 10,660 — Total investment securities available for sale $ 6,861,293 $ 1,668 $ 6,859,625 $ — Loans held for sale $ 59,766 $ — $ 59,766 $ — Liabilities measured at fair value Interest rate swaps accounted for as cash flow hedges $ 1,429 $ — $ 1,429 $ — December 31, 2014 Fair value measurements using: Fair value Level 1 Level 2 Level 3 Assets measured at fair value Investment securities available for sale U.S. Treasury $ 2,629,670 $ — $ 2,629,670 $ — Government agency 908,817 — 908,817 — Mortgage-backed securities 3,633,304 — 3,633,304 — Municipal securities 126 — 126 — Total investment securities available for sale $ 7,171,917 $ — $ 7,171,917 $ — Loans held for sale $ 63,696 $ — $ 63,696 $ — Liabilities measured at fair value Interest rate swaps accounted for as cash flow hedges $ 4,337 $ — $ 4,337 $ — There were no transfers between levels during the years ended December 31, 2015 and 2014 . Fair Value Option Beginning in the fourth quarter of 2014, BancShares elected the fair value option for residential real estate loans held for sale. This election reduces certain timing differences in the Consolidated Statements of Income and better aligns with the management of the portfolio from a business perspective. The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for residential real estate loans held for sale measured at fair value as of December 31, 2015 and 2014 . December 31, 2015 (Dollars in thousands) Fair Value Aggregate Unpaid Principal Balance Difference Loans held for sale $ 59,766 $ 58,890 $ 876 December 31, 2014 Fair Value Aggregate Unpaid Principal Balance Difference Loans held for sale $ 63,696 $ 62,996 $ 700 No loans held for sale were 90 or more days past due or on nonaccrual status as of December 31, 2015 and 2014 . The changes in fair value for residential real estate loans held for sale for which we elected the fair value option are included in the table below for the years ended December 31, 2015 and 2014 . Year ended December 31 (Dollars in thousands) 2015 2014 Gains (losses) from fair value changes on loans held for sale $ 176 $ 202 The changes in fair value in the table above are recorded as a component of mortgage income on the Consolidated Statements of Income. Certain other assets are adjusted to their fair value on a nonrecurring basis, including impaired loans, OREO, goodwill, which is periodically tested for impairment and mortgage servicing rights, which are carried at the lower of amortized cost or market. Non-impaired loans held for investment, deposits, short-term borrowings and long-term obligations are not reported at fair value. Impaired loans are deemed to be at fair value if an associated allowance or current period charge-off has been recorded. 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 payment information at the individual loan level, discounted using the effective interest rate. The effective interest rates generally range between 2 and 16 percent. OREO is measured and reported at fair value using 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. OREO that has been acquired or written down in the current year is deemed to be at fair value and included in the table below. Mortgage servicing rights are carried at the lower of cost or market and are, therefore, carried at fair value only when fair value is less than the amortized asset cost. The fair value of mortgage servicing rights is performed using a pooling methodology. Similar loans are pooled together and a discounted cash flow model, which takes into consideration discount rates, prepayment rates, and the weighted average cost to service the loans, are used to determine the fair value. See Note R for further information on the discount rates, prepayment rates and the weighted average cost to service the loans. For financial assets and liabilities carried at fair value on a nonrecurring basis, the following table provides fair value information as of December 31, 2015 and December 31, 2014 . December 31, 2015 Fair value measurements using: (Dollars in thousands) Fair value Level 1 Level 2 Level 3 Impaired loans 64,197 — — 64,197 Other real estate not covered under loss share agreements remeasured during current year 44,571 — — 44,571 Other real estate covered under loss share agreements remeasured during current year 4,403 — — 4,403 Mortgage servicing rights 17,997 — — 17,997 December 31, 2014 Fair value measurements using: Fair value Level 1 Level 2 Level 3 Impaired loans 73,170 — — 73,170 Other real estate not covered under loss share agreements remeasured during current year 40,714 — — 40,714 Other real estate covered under loss share agreements remeasured during current year 17,664 — — 17,664 Mortgage servicing rights 13,562 — — 13,562 No financial liabilities were carried at fair value on a nonrecurring basis as of December 31, 2015 and December 31, 2014 . |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2015 | |
General Discussion of Pension and Other Postretirement Benefits [Abstract] | |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS BancShares sponsors benefit plans for its qualifying employees and legacy Bancorporation employees including noncontributory defined benefit pension plans, 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 Plans Employees who were hired prior to April 1, 2007 and qualified under length of service and other requirements are covered by a noncontributory defined benefit pension plan (BancShares Plan). The BancShares plan was closed to new participants as of April 1, 2007. Retirement benefits are based on years of service and average earnings. Covered employees fully vested in the BancShares Plan after five years of service. BancShares makes contributions to the pension plan in amounts between the minimum required for funding and the maximum amount deductible for federal income tax purposes. A $30.0 million discretionary contribution was made to the BancShares Plan during 2015 . No contributions were made during 2014 and BancShares does not anticipate making any contributions during 2016. Certain legacy Bancorporation employees who qualified under length of service and other requirements are covered by a noncontributory defined benefit pension plan (Bancorporation Plan). The Bancorporation plan was closed to new participants as of September 1, 2007. Retirement benefits are based on years of service and highest average annual compensation for five consecutive years during the last ten years of employment. Covered employees fully vested in the Bancorporation Plan after five years of service. BancShares makes contributions to the Bancorporation Plan in amounts between the minimum required for funding and the maximum amount deductible for federal income tax purposes. No contributions were made to the Bancorporation Plan for 2015 and 2014 and none are anticipated for 2016. Obligations and Funded Status BancShares Plan The following table provides the changes in benefit obligation and plan assets and the funded status of the plan at December 31, 2015 and 2014 . (Dollars in thousands) 2015 2014 Change in benefit obligation Projected benefit obligation at January 1 $ 627,645 $ 530,678 Service cost 14,083 12,332 Interest cost 26,975 25,615 Actuarial (gain) loss (39,002 ) 76,122 Benefits paid (18,199 ) (17,102 ) Projected benefit obligation at December 31 611,502 627,645 Change in plan assets Fair value of plan assets at January 1 544,956 524,017 Actual return on plan assets (6,732 ) 38,041 Employer contributions 30,000 — Benefits paid (18,199 ) (17,102 ) Fair value of plan assets at December 31 550,025 544,956 Funded status at December 31 $ (61,477 ) $ (82,689 ) The amounts recognized in the consolidated balance sheets at December 31, 2015 and 2014 consist of: (Dollars in thousands) 2015 2014 Other assets $ — $ — Other liabilities (61,477 ) (82,689 ) Net asset (liability) recognized $ (61,477 ) $ (82,689 ) The following table details the amounts recognized in accumulated other comprehensive income at December 31, 2015 and 2014 . (Dollars in thousands) 2015 2014 Net loss $ 70,358 $ 80,806 Less prior service cost 556 767 Accumulated other comprehensive loss, excluding income taxes $ 70,914 $ 81,573 The following table provides expected amortization amounts for 2016 . (Dollars in thousands) Actuarial loss $ 6,398 Prior service cost 210 Total $ 6,608 The accumulated benefit obligation for the plan at December 31, 2015 and 2014 was $533.1 million and $537.0 million , respectively. The BancShares Plan uses a measurement date of December 31 . The projected benefit obligation exceeded the fair value of plan assets as of December 31, 2015 and 2014 . The fair value of plan assets exceeded the accumulated benefit obligation as of December 31, 2015 and 2014 . 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, 2015, 2014 and 2013 . Year ended December 31 (Dollars in thousands) 2015 2014 2013 Service cost $ 14,083 $ 12,332 $ 16,332 Interest cost 26,975 25,615 23,686 Expected return on assets (33,198 ) (31,269 ) (27,733 ) Amortization of prior service cost 210 210 210 Amortization of net actuarial loss 11,376 5,148 16,985 Total net periodic benefit cost 19,446 12,036 29,480 Current year actuarial loss (gain) 927 69,349 (123,557 ) Amortization of actuarial loss (11,376 ) (5,148 ) (16,985 ) Amortization of prior service cost (210 ) (210 ) (210 ) Total recognized in other comprehensive income (10,659 ) 63,991 (140,752 ) Total recognized in net periodic benefit cost and other comprehensive income $ 8,787 $ 76,027 $ (111,272 ) The assumptions used to determine the benefit obligations at December 31, 2015 and 2014 are as follows: (Dollars in thousands) 2015 2014 Discount rate 4.68 % 4.27 % Rate of compensation increase 4.00 4.00 The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2015, 2014 and 2013 , are as follows: (Dollars in thousands) 2015 2014 2013 Discount rate 4.27 % 4.90 % 4.00 % Rate of compensation increase 4.00 4.00 4.00 Expected long-term return on plan assets 7.50 7.50 7.25 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 weighted average expected long-term rate of return on BancShares Plan assets represents the average rate of return expected to be earned on BancShares Plan assets over the period the benefits included in the benefit obligation are to be paid. In developing the expected rate of return, historical and current returns, as well as investment allocation strategies, on BancShares Plan assets are considered. Bancorporation Plan The following table provides the changes in benefit obligation and plan assets and the funded status of the plan at December 31, 2015 and 2014 . (Dollars in thousands) 2015 2014 Change in benefit obligation Projected benefit obligation at January 1 $ 151,332 $ — Projected benefit obligation at October 1 acquisition date — 137,452 Service cost 3,341 832 Interest cost 6,393 1,488 Actuarial (gain) loss (10,937 ) 12,802 Benefits paid (4,812 ) (1,242 ) Curtailments (2,076 ) — Projected benefit obligation at December 31 143,241 151,332 Change in plan assets Fair value of plan assets at January 1 155,618 — Fair value of plan assets at October 1 acquisition date — 150,374 Actual return on plan assets 87 6,486 Benefits paid (4,812 ) (1,242 ) Fair value of plan assets at December 31 150,893 155,618 Funded status at December 31 $ 7,652 $ 4,286 During 2015, there were plan curtailments of $2.1 million related to a decrease in the number of employees covered by the Bancorporation plan. The amounts recognized in the consolidated balance sheets at December 31, 2015 and 2014 consist of: (Dollars in thousands) 2015 2014 Other assets $ — $ — Other liabilities 7,652 4,286 Net asset (liability) recognized $ 7,652 $ 4,286 The following table details the amounts recognized in accumulated other comprehensive income at December 31, 2015 and 2014 . (Dollars in thousands) 2015 2014 Net loss $ 7,505 $ 9,123 Less prior service cost — — Accumulated other comprehensive loss, excluding income taxes $ 7,505 $ 9,123 There are no expected amortization amounts for 2016. The accumulated benefit obligation for the plan at December 31, 2015 and 2014 was $131.9 million and $136.4 million , respectively. The Bancorporation Plan uses a measurement date of December 31 . The fair value of plan assets exceeded the projected benefit obligation and accumulated benefit obligation as of December 31, 2015 and 2014 . 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, 2015 and 2014 . For 2014, the table only includes amounts after the October 1 acquisition of Bancorporation. Year ended December 31 (Dollars in thousands) 2015 2014 Service cost $ 3,341 $ 832 Interest cost 6,393 1,488 Expected return on assets (11,482 ) (2,807 ) Total net periodic benefit cost (1,748 ) (487 ) Current year actuarial loss 458 9,123 Curtailments (2,076 ) — Total recognized in other comprehensive income (1,618 ) 9,123 Total recognized in net periodic benefit cost and other comprehensive income $ (3,366 ) $ 8,636 The assumptions used to determine the benefit obligations at December 31, 2015 and 2014 are as follows: (Dollars in thousands) 2015 2014 Discount rate 4.68 % 4.27 % Rate of compensation increase 4.00 4.00 The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2015 and 2014 are as follows: (Dollars in thousands) 2015 2014 Discount rate 4.27 % 4.35 % Rate of compensation increase 4.00 4.00 Expected long-term return on plan assets 7.50 7.50 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 weighted average expected long-term rate of return on Bancorporation Plan assets represents the average rate of return expected to be earned on Bancorporation Plan assets over the period the benefits included in the benefit obligation are to be paid. In developing the expected rate of return, historical and current returns, as well as investment allocation strategies, on Bancorporation Plan assets are considered. Plan Assets BancShares Plan Our 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 BancShares 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 across global, economic and market risk factors in an attempt to reduce volatility and target multiple return sources. 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, 2015 and 2014 , by asset class are as follows: December 31, 2015 (Dollars in thousands) Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 26,613 $ 26,613 $ — $ — 0 - 1% 5 % Equity securities 55 - 65% 63 % Common and preferred stock 267,037 267,037 — — Mutual funds 78,645 78,645 — — Fixed income 25 - 40% 26 % U.S. government and government agency securities 58,526 48,957 9,569 — Corporate bonds 70,809 — 70,809 — Mutual funds 17,351 17,351 — — Alternative investments 0 - 10% 6 % Mutual funds 31,044 31,044 — — Total pension assets $ 550,025 $ 469,647 $ 80,378 $ — 100 % December 31, 2014 Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 3,854 $ 3,854 — — 0 - 1% 1 % Equity securities 55 - 65% 62 % Common and preferred stock 284,656 284,656 — — Mutual funds 52,379 52,379 — — Fixed income 25 - 40% 28 % Mutual funds 153,928 — 153,928 — Alternative investments 0 - 10% 9 % Mutual funds 50,139 50,139 — — Total pension assets $ 544,956 $ 391,028 $ 153,928 $ — 100 % Cash and equivalents comprise approximately 5 percent of BancShares actual plan assets at December 31, 2015 , exceeding the target allocation range due to the $30.0 million contribution to the plan in December 2015. Bancorporation Plan Our 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 Bancorporation 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 across global, economic and market risk factors in an attempt to reduce volatility and target multiple return sources. 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. December 31, 2015 (Dollars in thousands) Market Value Quoted prices in Significant Significant Actual % Cash and equivalents $ 13,437 $ 13,437 — — 9 % Equity securities 63 % Common and preferred stock 80,676 80,676 — — Mutual funds 15,005 15,005 — — Fixed income 22 % U.S. government and government agency securities 20,476 3,986 16,490 — Corporate bonds 8,011 — 8,011 — Mutual funds 4,198 4,198 — — Alternative investments 6 % Mutual funds 9,090 9,090 — — Total pension assets $ 150,893 $ 126,392 $ 24,501 — December 31, 2014 Market Value Quoted prices in Significant Significant Actual % Cash and equivalents $ 13,077 $ 13,077 — — 8 % Equity securities 69 % Common and preferred stock 101,540 101,540 — — Mutual funds 5,793 5,793 — — Fixed income 23 % U.S. government and government agency securities 23,528 23,528 — — Corporate bonds 11,680 — 11,680 — Total pension assets $ 155,618 $ 143,938 $ 11,680 — The investment policy for the Bancorporation Plan establishes an asset allocation whereby fixed income securities including cash and cash equivalents should comprise no less than 35 percent of Bancorporation Plan assets and whereby equity securities should not exceed 60 percent of Bancorporation Plan assets. Because the investment policy grants a 10 percent market value variance within the Bancorporation Plan when assessing overall asset allocation percentage, equity securities can comprise up to 70 percent of Bancorporation Plan assets before action is required. Alternative investments may also comprise up to 5 percent of the Bancorporation Plan assets. Cash Flows Following are estimated payments to pension plan participants in the indicated periods for each plan: (Dollars in thousands) BancShares Plan Bancorporation Plan 2016 $ 21,607 $ 5,463 2017 23,268 5,969 2018 24,895 6,420 2019 26,450 6,791 2020 28,207 7,209 2021-2025 166,567 43,671 401(k) Savings Plans Effective January 1, 2015, BancShares merged the legacy Bancorporation 401(k) savings plan and enhanced 401(k) savings plan into the existing BancShares 401(k) savings plan and enhanced 401(k) savings plan. Participation in and terms of the BancShares 401(k) plan and enhanced 401(k) plan did not change as a result of the mergers. BancShares Plans Certain employees enrolled in the defined benefit plan are also eligible to participate in a 401(k) savings plan 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 up to 6 percent of compensation which is vested immediately. 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 employees' contributions not to exceed 6 percent of compensation which is vested immediately. In addition to the employer match of the employee contributions, the enhanced 401(k) savings plan provides a guaranteed contribution equal to 3 percent of the compensation of a participant who remains employed at the end of the 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 , are eligible to participate in the enhanced 401(k) savings plan. BancShares made participating contributions to the BancShares 401(k) plans of $22.6 million , $16.4 million and $14.9 million during 2015 , 2014 and 2013 , respectively. Legacy Bancorporation Plans Legacy Bancorporation had a 401(k) savings plan covering employees who elected to participate prior to September 1, 2007. As of October 1, 2014, BancShares assumed the plan requirement of matching 100 percent of the employees’ contribution of up to 3 percent of compensation and 50 percent of the employees’ contribution over 3 percent but not to exceed 6 percent of compensation. The matching funds contributed by the bank are 100 percent vested immediately. This plan was merged into the existing BancShares 401(k) savings plan as of January 1, 2015 and ceased to exist. Legacy Bancorporation also had an enhanced 401(k) savings plan covering employees hired or rehired on or after September 1, 2007 and which provided for benefits beginning January 1, 2008. As of October 1, 2014 acquisition date, BancShares assumed the plan requirement of matching up to 100 percent of the employees’ contributions not to 6 percent of compensation. Historically, Bancorporation has contributed a profit sharing contribution equal to 3 percent of a participant’s compensation regardless of whether the participant is making contributions. The matching funds and profit sharing contributions contributed by the bank are 100 percent vested immediately. This plan was merged into the existing BancShares enhanced 401(k) savings plan as of January 1, 2015 and ceased to exist. BancShares made participating contributions to the legacy Bancorporation plans of $1.1 million for 2014. 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 no more than fifteen 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, 2015 and 2014 , and the changes in the accrued liability during the years then ended: (Dollars in thousands) 2015 2014 Present value of accrued liability as of January 1 $ 43,211 $ 23,960 Benefits acquired in the 1st Financial merger — 1,455 Benefits acquired in the Bancorporation merger — 17,333 Benefit expense and interest cost 1,386 2,682 Benefits paid (4,485 ) (2,219 ) Benefits forfeited (234 ) — Present value of accrued liability as of December 31 $ 39,878 $ 43,211 Discount rate at December 31 4.68 % 4.27 % |
Other Noninterest Income and Ot
Other Noninterest Income and Other Noninterest Expense | 12 Months Ended |
Dec. 31, 2015 | |
Noninterest Expense [Abstract] | |
Other Noninterest Income and Other Noninterest Expense | OTHER NONINTEREST INCOME AND OTHER NONINTEREST EXPENSE Other noninterest income for the years ended December 31, 2015, 2014 and 2013 was $36.4 million , $29.3 million and $49.7 million , respectively. The most significant item in other noninterest income was recoveries on PCI loans that have been previously charged-off. BancShares records the portion of recoveries not covered under loss share agreements as noninterest income rather than as an adjustment to the allowance for loan losses since charge-offs on PCI loans are recorded against the discount recognized on the date of acquisition versus the allowance for loan losses. These recoveries were $21.2 million , $16.2 million and $29.7 million for the years ended December 31, 2015, 2014 and 2013 , respectively. Other noninterest expense for the years ended December 31, 2015, 2014 and 2013 included the following: (Dollars in thousands) 2015 2014 2013 Cardholder processing $ 21,735 $ 15,133 $ 13,780 Merchant processing 58,231 42,661 35,279 Collection 9,649 11,595 21,209 Processing fees paid to third parties 18,779 17,089 15,095 Cardholder reward programs 11,069 8,252 6,266 Telecommunications 14,406 10,834 10,033 Consultant 8,925 10,168 9,740 Core deposit intangible amortization 18,892 6,955 2,308 Advertising 12,431 11,461 8,286 Other 95,741 76,481 71,018 Total other noninterest expense $ 269,858 $ 210,629 $ 193,014 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES At December 31 , income tax expense consisted of the following: (Dollars in thousands) 2015 2014 2013 Current tax expense Federal $ 105,367 $ 84,430 $ 46,848 State 16,111 13,941 7,080 Total current tax expense 121,478 98,371 53,928 Deferred tax (benefit) expense Federal (2,758 ) (30,658 ) 38,731 State 3,308 (2,681 ) 8,915 Total deferred tax (benefit) expense 550 (33,339 ) 47,646 Total income tax expense $ 122,028 $ 65,032 $ 101,574 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: (Dollars in thousands) 2015 2014 2013 Income taxes at statutory rates $ 116,345 $ 71,258 $ 93,956 Increase (reduction) in income taxes resulting from: Nontaxable income on loans, leases and investments, net of nondeductible expenses (3,020 ) (1,832 ) (1,185 ) State and local income taxes, including change in valuation allowance, net of federal income tax benefit 12,622 7,319 10,397 Acquisition stock settlement — (10,185 ) — Tax credits net of amortization (3,060 ) (2,896 ) (960 ) Other, net (859 ) 1,368 (634 ) Total income tax expense $ 122,028 $ 65,032 $ 101,574 The net deferred tax asset included the following components at December 31 : (Dollars in thousands) 2015 2014 Allowance for loan and lease losses $ 78,878 $ 79,537 Pension liability 7,206 17,147 Executive separation from service agreements 9,856 13,753 State operating loss carryforward 21 29 Unrealized loss on cash flow hedge 537 1,673 Net unrealized loss on securities included in accumulated other comprehensive loss 9,379 — Accelerated depreciation 13,195 3,495 FDIC assisted transactions timing differences 66,456 77,388 Other reserves 10,772 12,770 Other 29,279 26,788 Deferred tax asset 225,579 232,580 Lease financing activities 15,492 12,706 Net unrealized gain on securities included in accumulated other comprehensive loss — 3,245 Net deferred loan fees and costs 6,051 4,532 Intangible assets 2,040 7,789 Security, loan and debt valuations 31,486 40,910 Other 12,026 13,287 Deferred tax liability 67,095 82,469 Net deferred tax asset $ 158,484 $ 150,111 On October 1, 2014, Bancorporation merged with and into BancShares in a statutory merger treated as a "reorganization" within the meaning of section 368(a) of the Internal Revenue Code of 1986 as amended. Income tax expense in 2014 has been adjusted for the settlement of the ownership of Bancorporation stock at the date of the merger. Income tax expense has also been adjusted for the revaluation of the acquired deferred inventory to reflect the rates that will apply under currently enacted tax law when the temporary differences are expected to reverse. No valuation allowance was necessary at December 31, 2015 or 2014 to reduce BancShares’ gross state deferred tax asset to the amount that is more likely than not to be realized. 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, 2015 and 2014 , and changes in the liability were not significant during 2015, 2014 and 2013 . BancShares does not expect the liability for unrecognized tax benefits to change significantly during 2016 . BancShares recognizes interest and penalties, if any, related to income tax matters in income tax expense, and the amounts recognized during 2015, 2014 and 2013 were not material. During the third quarter of 2015, BancShares adjusted its net deferred tax asset as a result of reductions in the North Carolina corporate income tax rate that will become effective January 1, 2016. The lower corporate income tax rate resulted in a reduction in the deferred tax asset and an increase in income tax expense in 2015. BancShares, its subsidiaries', and Bancorporation's federal income tax returns for 2012 through 2014 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. BancShares state tax returns are currently under examination in California for 2011 and 2012 and in Florida for 2011 through 2013. |
Transactions with Related Perso
Transactions with Related Persons | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Transactions with related persons | TRANSACTIONS WITH RELATED PERSONS BancShares had, and expects 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. On September 4, 2015, FCB signed a definitive agreement to sell certain assets and liabilities of its branch office located at 800 South Lafayette in Shelby, North Carolina to The Fidelity Bank, a financial institution controlled by Related Persons. The sale was completed on December 4, 2015. FCB sold $8.7 million of loans and $31.2 million of deposits while also receiving a premium on the deposits sold of $301 thousand . The transaction resulted in a net cash payment of $22.2 million by FCB to The Fidelity Bank. After transaction costs, the sale resulted in a net gain of $216 thousand for the year ended December 31, 2015. The sale on December 4, 2015 did not include the building located in Shelby, North Carolina. The sale of the building to The Fidelity Bank is expected to occur in 2016. For those identified as Related Persons as of December 31, 2015 , the following table provides an analysis of changes in the loans outstanding during 2015 and 2014 : Year ended December 31 (dollars in thousands) 2015 2014 Balance at January 1 $ 1,045 1,825 New loans 5 39 Repayments (971 ) (819 ) Balance at December 31 $ 79 1,045 Unfunded loan commitments available to Related Persons were $1.4 million and $1.3 million as of December 31, 2015 and 2014 , respectively. During 2015, 2014 and 2013 , fees from processing services included $98 thousand , $17.2 million and $21.6 million , respectively, for services rendered to entities controlled by Related Persons. The 2014 amount includes $16.8 million earned from Bancorporation prior to the merger as it was considered an entity controlled by Related Persons. Effective with the merger there were no longer any fees earned from Bancorporation. The amounts recorded from the largest individual institution were $66 thousand , $16.8 million and $20.4 million for 2015, 2014 and 2013 , respectively. BancShares has also provided certain contracted services for entities controlled by Related Persons which have been reimbursed and are not considered material. In the third quarter of 2014, BancShares purchased $25.0 million of FCB/SC Capital Trust II's outstanding Trust Preferred Securities from an unaffiliated third party. BancShares paid approximately $23.0 million , plus unpaid accrued distributions on the securities for the current distribution period, for the Trust Preferred Securities. Upon completion of the merger with Bancorporation on October 1, 2014 the issuer of the Trust Preferred Securities became a subsidiary of BancShares and BancShares' investment in the Trust Preferred Securities was eliminated in consolidation. |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2015 | |
Summary of Derivative Instruments [Abstract] | |
Derivatives | DERIVATIVES At December 31, 2015 , 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, 2015 and 2014 . December 31, 2015 December 31, 2014 (Dollars in thousands) Notional amount Estimated fair value of liability Notional amount Estimated fair value of liability 2011 interest rate swap hedging variable rate exposure on trust preferred securities 2011-2016 $ 93,500 $ 1,429 $ 93,500 $ 4,337 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. At December 31, 2015 and 2014 , collateral with a fair value of $2.0 million and $7.0 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, 2015, 2014 and 2013 , BancShares recognized interest expense of $3.3 million for each period, 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, 2015 that is expected to be reclassified into earnings within the next 12 months is a net after-tax loss of $1.1 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, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS Goodwill Goodwill was $139.8 million at December 31, 2015 and 2014 , with no impairment recorded during 2015, 2014 and 2013 . The following table presents the changes in the carrying amount of goodwill. (Dollars in thousands) 2015 2014 Balance at January 1 $ 139,773 $ 102,625 Acquired in the 1st Financial merger — 32,915 Acquired in the Bancorporation merger — 4,233 Balance at December 31 $ 139,773 $ 139,773 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 2015 and 2014 , no further analysis was required as there was no indication of impairment. Mortgage Servicing Rights Our portfolio of residential mortgage loans serviced for third parties was $2.15 billion and $1.95 billion as of December 31, 2015 and 2014 , respectively. These loans were originated by BancShares and sold to third parties on a non-recourse basis with servicing rights retained. These retained servicing rights are recorded as a servicing asset on the Consolidated Balance Sheets and are initially recorded at fair value. The activity of the servicing asset for the years ended December 31, 2015 and 2014 is presented in the following table: (Dollars in thousands) 2015 2014 Balance at January 1 $ 16,688 $ 16 Servicing rights originated 5,910 727 Amortization (4,002 ) (919 ) Servicing rights acquired in the 1st Financial merger — 148 Servicing rights acquired in the Bancorporation merger — 17,566 Valuation allowance reversal (provision) 755 (850 ) Balance at December 31 $ 19,351 $ 16,688 The following table presents the activity in the servicing asset valuation allowance for the years ended December 31, 2015 and 2014 : (Dollars in thousands) 2015 2014 Balance at January 1 $ 850 $ — Valuation allowance (reversal) provision (755 ) 850 Balance at December 31 $ 95 $ 850 During 2014, BancShares acquired the rights to service mortgage loans that had previously been sold by Bancorporation and also recorded a mortgage servicing asset from the 1st Financial merger. The acquired assets were recorded at fair value and amortized over the remaining estimated servicing lives, which were estimated to be 5.5 years and 3 months for the Bancorporation and 1st Financial mergers, respectively, as of the acquisition date. As of December 31, 2015 and 2014 , the carrying value BancShares' mortgage servicing rights was $19.4 million and $16.7 million , respectively. Contractually specified mortgage servicing fees, late fees, and ancillary fees earned for the years ended December 31, 2015, 2014 and 2013 were $5.4 million , $611 thousand , and $327 thousand respectively, and are included in mortgage income in the Consolidated Statements of Income. The amortization expense related to mortgage servicing rights, included as a reduction of mortgage income in the Consolidated Statements of Income, was $4.0 million , $919 thousand , and $205 thousand for the years ended December 31, 2015, 2014 and 2013 , respectively. Mortgage income included an impairment reversal of $755 thousand for the year ended December 31, 2015 and an impairment of $850 thousand for the year ended December 31, 2014 . There was no net valuation allowance impairment recorded for the year ended December 31, 2013. Valuation of mortgage servicing rights is performed using a pooling methodology. Similar loans are pooled together and evaluated on a discounted earnings basis to determine the present value of future earnings. Key economic assumptions used to value mortgage servicing rights as of December 31, 2015 and 2014 were as follows: 2015 2014 Discount rate - conventional fixed loans 9.31 % 7.20 % Discount rate - all loans excluding conventional fixed loans 10.31 % 9.20 % Weighted average constant prepayment rate 11.01 % 14.25 % Weighted average cost to service a loan $ 56.61 $ 56.02 Other Intangible Assets The following information relates to other intangible assets, all customer-related, which are being amortized over their estimated useful lives: (dollars in thousands) 2015 2014 Balance at January 1 $ 89,922 $ 1,247 Acquired in CCBT merger 690 — Acquired in the 1st Financial merger — 3,780 Acquired in the Bancorporation merger — 91,850 Removal due to branch sale (85 ) — Amortization (18,892 ) (6,955 ) Balance at December 31 $ 71,635 $ 89,922 Core deposit intangibles comprise the majority of the other intangible assets as of December 31, 2015 and 2014 . During 2015, BancShares recognized $690 thousand in core deposit intangibles related to the CCBT merger. Core deposit intangibles of $85 thousand were written off in 2015 as it related to previously acquired deposits that were sold in connection with the sale of a branch in December 2015. During 2014, BancShares recognized $91.9 million and $3.8 million in core deposit intangibles related to the Bancorporation and 1st Financial mergers, respectively. Intangible assets generated by acquisitions, which represent the estimated fair value of core deposits and other customer relationships that were acquired, are being amortized on an accelerated basis over their estimated useful lives. The estimated useful remaining lives range from 2 years to less than 9 years. The gross amount of other intangible assets and accumulated amortization as of December 31, 2015 and 2014 , are: (dollars in thousands) 2015 2014 Gross balance $ 115,201 $ 114,596 Accumulated amortization (43,566 ) (24,674 ) Carrying value $ 71,635 $ 89,922 Based on current estimated useful lives and carrying values, BancShares anticipates amortization expense for intangible assets in subsequent periods will be: (dollars in thousands) 2016 $ 16,440 2017 14,075 2018 11,710 2019 9,457 2020 7,492 |
Shareholders' Equity, Dividends
Shareholders' Equity, Dividends Restrictions and Other Regulatory Matters | 12 Months Ended |
Dec. 31, 2015 | |
Regulatory Capital Requirements [Abstract] | |
Shareholders' Equity, Dividend Restrictions and Other Regulatory Matters | SHAREHOLDERS' EQUITY, DIVIDEND RESTRICTIONS AND OTHER REGULATORY MATTERS BancShares and FCB are required to meet minimum capital requirements set forth by regulatory authorities. Bank regulatory agencies approved regulatory capital guidelines (Basel III) aimed at strengthening existing capital requirements for banking organizations. Under Basel III, minimum requirements increase for both the quantity and quality of capital held by BancShares. Basel III included a new common equity Tier 1 ratio minimum of 4.50 percent , raised the minimum Tier 1 risk-based capital to 6.00 percent , requires a minimum total risk-based capital ratio of 8.00 percent and requires a minimum Tier 1 leverage capital ratio of 4.00 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. A new capital conservation buffer, comprised of common equity Tier 1 capital, was also established above the regulatory minimum requirements. This capital conservation buffer will be phased in beginning January 1, 2016 at 0.625 percent of risk-weighted assets and increase each subsequent year by an additional 0.625 percent until reaching its final level of 2.50 percent on January 1, 2019. The phase-in period for Basel III became effective for BancShares on January 1, 2015, with full compliance of all Basel III requirements phased in over a multi-year schedule, to be fully phased in by January 1, 2019. Based on the most recent notifications from its regulators, FCB is well-capitalized under the regulatory framework for prompt corrective action. As of December 31, 2015 , BancShares and FCB met all capital adequacy requirements to which they are subject and were not aware of any conditions or events that would affect each entity's well-capitalized status. Following is an analysis of capital ratios for BancShares and FCB as of December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 (Dollars in thousands) Amount (1) Ratio (1) Requirements to be well-capitalized (2) Amount Ratio Requirements to be well-capitalized BancShares Tier 1 risk-based capital $ 2,831,242 12.65 % 8.00 % $ 2,690,324 13.61 % 6.00 % Common equity Tier 1 (3) 2,799,163 12.51 6.50 N/A N/A N/A Total risk-based capital 3,140,212 14.03 10.00 2,904,123 14.69 10.00 Leverage capital 2,831,242 8.96 5.00 2,690,324 8.91 5.00 FCB Tier 1 risk-based capital 2,821,475 12.64 8.00 2,019,595 13.12 6.00 Common equity Tier 1 (3) 2,821,475 12.64 6.50 N/A N/A N/A Total risk-based capital 3,038,070 13.61 10.00 2,212,163 14.37 10.00 Leverage capital 2,821,475 8.95 5.00 2,019,595 9.30 5.00 FCB-SC (4) Tier 1 risk-based capital N/A N/A N/A 653,515 15.11 6.00 Total risk-based capital N/A N/A N/A 657,475 15.20 10.00 Leverage capital N/A N/A N/A 653,515 7.89 5.00 (1) December 31, 2015 calculated under Basel III guidelines, which became effective January 1, 2015. (2) Regulatory well-capitalized requirements are based on 2015 Basel III regulatory capital guidelines. (3) Common equity Tier 1 ratio requirements were established under Basel III guidelines; therefore, this ratio is not applicable for periods prior to January 1, 2015. (4) FCB-SC merged into FCB effective January 1, 2015. As such, capital ratios are not applicable as of December 31, 2015. At December 31, 2015 , BancShares had $32.1 million of trust preferred capital securities included in Tier 1 capital, compared to $128.5 million at December 31, 2014 . Effective January 1, 2015 , 75 percent of BancShares' trust preferred capital securities were excluded from Tier 1 capital, with the remaining 25 percent to be phased out January 1, 2016 . The inclusion of accumulated other comprehensive income in Tier 1 common equity, as described in Basel III, is only applicable for institutions larger than $50 billion in assets. Management continues to monitor developments and remains committed to managing capital levels in a prudent manner. At December 31, 2015 and December 31, 2014 , Tier 2 capital of BancShares included $6.0 million and $9.0 million , respectively, of qualifying subordinated debt acquired in the Bancorporation merger with a scheduled maturity date of June 1, 2018. 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. 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 fourth quarter of 2015, our board approved a stock repurchase plan that provides for the purchase of up to 100,000 shares of Class A common stock beginning on November 1, 2015 and continuing through October 31, 2016. As of December 31, 2015 , no purchases had occurred pursuant to that authorization. The Board of Directors of FCB may approve distributions, including dividends, as it deems appropriate, subject to the requirements of the FDIC and the General Statutes of North Carolina, provided that the distributions do not reduce capital below applicable capital requirements. As of December 31, 2015 , the maximum amount of the dividend was limited to $902.6 million to preserve well-capitalized status. Dividends declared by FCB amounted to $75.0 million in 2015 , $30.0 million in 2014 and $131.0 million in 2013 . 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 2015 , the requirements averaged $531.6 million . |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015 , BancShares had unused commitments totaling $7.95 billion , compared to $7.19 billion at December 31, 2014 . Total unfunded commitments relating to investments in affordable housing projects were $41.8 million and $16.8 million at December 31, 2015 and December 31, 2014 , respectively, and are included in other liabilities on BancShares' Consolidated Balance Sheet. Affordable housing project investments were $85.6 million and $57.1 million at December 31, 2015 and December 31, 2014 , respectively, and are included in other assets on the Consolidated Balance Sheets. 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, and the fair value of those guarantees is not significant. To minimize its exposure, BancShares’ credit policies govern the issuance of standby letters of credit. At December 31, 2015 and 2014 , BancShares had standby letters of credit amounting to $77.9 million and $77.4 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. Pursuant to standard representations and warranties relating to residential mortgage loan sales, contingent obligations exist for various events that may occur following the loan sale. If underwriting or documentation deficiencies are discovered at any point in the life of the loan or if the loan becomes nonperforming within 120 days of its sale, the investor may require BancShares to repurchase the loan or to repay a portion of the sale proceeds. Other liabilities included reserves of $3.0 million and $3.2 million as of December 31, 2015 and 2014 , respectively, for estimated losses arising from these standard representation and warranty provisions. BancShares has recorded a receivable from the FDIC totaling $4.1 million and $28.7 million as of December 31, 2015 and 2014 , respectively, 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 BancShares, and disagreements may arise regarding coverage of losses, expenses and contingencies. The loss share agreements for five FDIC-assisted transactions include provisions related to payments that may be owed to the FDIC at the termination of the agreements (clawback liability) . The clawback liability represents a 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, 2015 and 2014 , the clawback liability was $126.5 million and $116.5 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 merger 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 Comprehensive
Accumulated Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Loss | ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Accumulated other comprehensive (loss) income included the following at December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 (Dollars in thousands) Accumulated other comprehensive loss Deferred tax benefit Accumulated other comprehensive loss, net of tax Accumulated other comprehensive income (loss) Deferred tax expense (benefit) Accumulated other comprehensive income (loss), net of tax Unrealized (losses) gains on investment securities available for sale $ (24,504 ) $ (9,379 ) $ (15,125 ) $ 8,343 $ 3,245 $ 5,098 Unrealized loss on cash flow hedge (1,429 ) (537 ) (892 ) (4,337 ) (1,673 ) (2,664 ) Funded status of defined benefit plan (78,419 ) (29,996 ) (48,423 ) (90,696 ) (35,281 ) (55,415 ) Total $ (104,352 ) $ (39,912 ) $ (64,440 ) $ (86,690 ) $ (33,709 ) $ (52,981 ) The following table highlights changes in accumulated other comprehensive (loss) income by component for the years ended December 31, 2015 and 2014 : (Dollars in thousands) Unrealized gains (losses) on available-for-sale securities (1) Gains (losses) on cash flow hedges (1) Defined benefit pension items (1) Total Balance at January 1, 2014 $ (10,091 ) $ (4,434 ) $ (10,743 ) $ (25,268 ) Other comprehensive income (loss) before reclassifications 33,061 1,770 (47,946 ) (13,115 ) Amounts reclassified from accumulated other comprehensive (loss) income (17,872 ) — 3,274 (14,598 ) Net current period other comprehensive income (loss) 15,189 1,770 (44,672 ) (27,713 ) Balance at December 31, 2014 5,098 (2,664 ) (55,415 ) (52,981 ) Other comprehensive income (loss) before reclassifications (13,544 ) 1,772 394 (11,378 ) Amounts reclassified from accumulated other comprehensive (loss) income (6,679 ) — 6,598 (81 ) Net current period other comprehensive (loss) income (20,223 ) 1,772 6,992 (11,459 ) Balance at December 31, 2015 $ (15,125 ) $ (892 ) $ (48,423 ) $ (64,440 ) (1) All amounts are net of tax. Amounts in parentheses indicate debits. The following table presents the amounts reclassified from accumulated other comprehensive (loss) income and the line item affected in the statement where net income is presented for the twelve months ended December 31, 2015 and 2014 : (Dollars in thousands) Year ended December 31, 2015 Details about accumulated other comprehensive income (loss) Amount reclassified from accumulated other comprehensive income (loss) (1) Affected line item in the statement where net income is presented Unrealized gains and losses on available for sale securities $ 10,817 Securities gains (4,138 ) Income taxes $ 6,679 Net income Amortization of defined benefit pension items Prior service costs $ (210 ) Employee benefits Actuarial losses (11,376 ) Employee benefits (11,586 ) Employee benefits 4,988 Income taxes $ (6,598 ) Net income Total reclassifications for the period $ 81 Year ended December 31, 2014 Details about accumulated other comprehensive income (loss) Amount reclassified from accumulated other comprehensive income (loss) (1) Affected line item in the statement where net income is presented Unrealized gains and losses on available for sale securities $ 29,096 Securities gains (11,224 ) Income taxes $ 17,872 Net income Amortization of defined benefit pension items Prior service costs $ (210 ) Employee benefits Actuarial losses (5,148 ) Employee benefits (5,358 ) Employee benefits 2,084 Income taxes $ (3,274 ) Net income Total reclassifications for the period $ 14,598 (1) Amounts in parentheses indicate debits to profit/loss. |
Parent Company Financial Statem
Parent Company Financial Statements | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Parent Company Financial Statements | PARENT COMPANY FINANCIAL STATEMENTS Parent Company Condensed Balance Sheets (Dollars in thousands) December 31, 2015 December 31, 2014 Assets Cash $ 26,285 $ 24,026 Investment securities available for sale 21,137 110,644 Investment in banking subsidiaries 2,874,581 2,750,201 Investment in other subsidiaries 43,117 65,665 Due from subsidiaries — 295,994 Other assets 73,944 74,157 Total assets $ 3,039,064 $ 3,320,687 Liabilities and Shareholders' Equity Short-term borrowings $ — $ 485,207 Long-term obligations 133,775 136,717 Due to subsidiaries 29,682 — Other liabilities 3,498 11,169 Shareholders' equity 2,872,109 2,687,594 Total liabilities and shareholders' equity $ 3,039,064 $ 3,320,687 Parent Company Condensed Income Statements Year ended December 31 (Dollars in thousands) 2015 2014 2013 Interest income $ 645 $ 1,784 $ 1,387 Interest expense 6,793 9,694 7,065 Net interest loss (6,148 ) (7,910 ) (5,678 ) Dividends from banking subsidiaries 75,006 82,419 131,006 Dividends from other subsidiaries 23,500 — — Other income 1,870 33,600 3,620 Other operating expense 2,634 6,534 2,344 Income before income tax benefit and equity in undistributed net income of subsidiaries 91,594 101,575 126,604 Income tax benefit (2,618 ) (2,590 ) (2,095 ) Income before equity in undistributed net income of subsidiaries 94,212 104,165 128,699 Equity in undistributed net income of subsidiaries 116,174 34,397 38,170 Net income $ 210,386 $ 138,562 $ 166,869 Parent Company Condensed Statements of Cash Flows Year ended December 31 (Dollars in thousands) 2015 2014 2013 OPERATING ACTIVITIES Net income $ 210,386 $ 138,562 $ 166,869 Adjustments Undistributed net income of subsidiaries (116,174 ) (34,397 ) (38,170 ) Net amortization of premiums and discounts (2,712 ) 594 334 Securities gains (236 ) (29,126 ) — Gain on elimination of acquired debt — (1,988 ) — Gain on sale of other assets — — (1,331 ) Change in other assets (3,070 ) 93,385 (61,704 ) Change in other liabilities (1,157 ) 2,250 (2,096 ) Net cash provided by operating activities 87,037 169,280 63,902 INVESTING ACTIVITIES Net change in due from subsidiaries 295,994 (150,328 ) (67,154 ) Purchases of investment securities (7,818 ) (33,243 ) (126,197 ) Proceeds from sales, calls, and maturities of securities 100,586 114,208 135,000 Investment in subsidiaries — 1,579 1,489 Business acquisitions, net of cash acquired — (24,772 ) — Net cash provided (used) by investing activities 388,762 (92,556 ) (56,862 ) FINANCING ACTIVITIES Net change in due to subsidiaries 29,682 — — Net change in short-term borrowings (485,207 ) (1,211 ) 12,860 Retirement of long-term obligations — (52,372 ) — Stock issuance costs — (619 ) — Repurchase of common stock — — (321 ) Cash dividends paid (18,015 ) (11,543 ) (8,663 ) Net cash (used) provided by financing activities (473,540 ) (65,745 ) 3,876 Net change in cash 2,259 10,979 10,916 Cash balance at beginning of year 24,026 13,047 2,131 Cash balance at end of year $ 26,285 $ 24,026 $ 13,047 |
Accounting Policies and Basis32
Accounting Policies and Basis of Presentation (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
General/Nature of Operations | 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 its merger with 1st Financial Services Corporation (1st Financial) of Hendersonville, NC and its wholly-owned subsidiary, Mountain 1st Bank & Trust Company (Mountain 1st). On October 1, 2014, BancShares completed the merger of First Citizens Bancorporation, Inc. (Bancorporation) with and into BancShares pursuant to an Agreement and Plan of Merger dated June 10, 2014, as amended on July 29, 2014. On January 1, 2015, First Citizens Bank and Trust Company, Inc. (FCB-SC) merged with and into FCB. As of December 31, 2015, FCB remained the single banking subsidiary of BancShares. On February 13, 2015, FCB entered into an agreement with the Federal Deposit Insurance Corporation (FDIC), as Receiver, to purchase certain assets and assume certain liabilities of Capitol City Bank & Trust (CCBT). The CCBT 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 B for additional information regarding the CCBT 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 559 branches in North Carolina, South Carolina, Virginia, West Virginia, Maryland, Tennessee, California, Washington, Florida, Georgia, Texas, Arizona, New Mexico, Colorado, Oregon, Missouri, Oklahoma, Kansas and the District of Columbia. FCB provides full-service banking services designed to meet the needs of retail and commercial customers in the markets in which they operate. 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. (FCIS) and First Citizens Securities Corporation (FCSC), and title insurance is offered through Neuse Financial Services, Inc. FCSC merged into FCIS effective January 1, 2016. |
Principles of Consolidation and Segment Reporting | 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. BancShares operates with centralized management and combined reporting, thus BancShares operates as one consolidated reportable segment. FCB has investments in certain partnerships and limited liability entities primarily for the purposes of fulfilling Community Reinvestment Act requirements and/or obtaining tax credits. The entities 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 entities are not consolidated into the financial statements of FCB or BancShares. The recorded investment in these entities is reported within other assets in BancShares' Consolidated Balance Sheets. |
Reclassifications | 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. |
Use of Estimates in the Preparation of Financial Statements | 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 purchased credit-impaired (PCI) loans • Receivable from and payable to the FDIC for loss share agreements • Income tax assets, liabilities and expense |
Business Combinations | Business Combinations BancShares accounts for all business combinations using the acquisition method of accounting. 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 recognized as either finite lived intangibles or capitalized as goodwill. In addition, acquisition-related costs and restructuring costs are recognized as period expenses as incurred. |
Cash and Cash Equivalents | 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 initial maturities of three months or less. The carrying value of cash and cash equivalents approximates its fair value due to its short-term nature. |
Investment Securities | Investment 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, 2015 and 2014 , 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 on a trade date basis and are included in noninterest income. BancShares evaluates each held to maturity and available for sale security in a loss position for other-than-temporary impairment (OTTI) 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 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. 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. Nonmarketable securities are recorded within other assets in BancShares’ Consolidated Balance Sheets. FHLB and nonmarketable securities were $37.7 million and $52.8 million at December 31, 2015 and 2014 , respectively. |
Loans Held For Sale | Loans Held For Sale BancShares has elected to apply the fair value option for new originations of prime residential mortgage loans to be sold. BancShares elected the fair value option in 2014 and accounts for the forward commitments used to economically hedge the loans held for sale at fair value. Gains and losses on sales of mortgage loans are recognized in the Consolidated Statements of Income in mortgage income. Origination fees collected are deferred and recorded in mortgage income in the period the corresponding loan is sold. |
Loans and Leases | Loans and Leases BancShares' accounting methods for loans and leases differ depending on whether they are purchased credit impaired (PCI) or non-PCI. Non-Purchased Credit Impaired (Non-PCI) 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 non-PCI 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. Net deferred fees on non-PCI loans, including unearned income and unamortized costs, fees, premiums and discounts, were $16.6 million and $20.8 million at December 31, 2015 and 2014 , respectively. Non-PCI loans include originated commercial, originated noncommercial, purchased non-impaired loans, purchased leases and certain purchased revolving credit. For purchased non-impaired loans to be included as non-PCI, it must be determined that the loans do not have a discount at least in part due to credit quality at the time of acquisition. The difference between fair value and unpaid principal balance of the loan at the acquisition date is amortized or accreted to interest income over the estimated life of the loans using a method that approximates the interest method. Purchased Credit Impaired (PCI) Loans and Leases PCI 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. PCI loans and leases are evaluated at acquisition and where a discount is required at least in part due to credit, the loans are accounted for under the guidance in Accounting Standards Codification (ASC) 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 PCI 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 the effective yield method. Over the life of PCI 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 through a reversal of previously recognized allowance through provision expense, and then the amount of accretable yield recognized on a prospective basis over the loan's or pool's remaining life. For non-pooled PCI loans and leases, accretion income is recognized except for situations when the timing and amount of future cash flows cannot be determined. PCI 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 PCI 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 | Impaired Loans, Troubled Debt Restructurings (TDR) and Nonperforming Assets Management will deem non-PCI 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. 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 first to all previously charged off principal until fully collected, then to interest income, to the extent that any interest has been foregone. A loan is considered a TDR when both of the following occur: (1) a modification to a borrower's debt agreement is made and (2) a concession 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 PCI loans that are part of a pool accounted for as a single asset are not designated as TDRs. Modifications of non-pooled PCI loans are designated as TDRs in the same manner as non-PCI loans. TDRs can be 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 non-PCI 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 if the loss is deemed confirmed. 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 all previously uncollected accrued interest is reversed from interest income. All payments received thereafter are applied as a reduction of 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. Other Real Estate Owned (OREO) acquired as a result of foreclosure is carried at net realizable value (NRV). Net realizable value equals fair value less estimated selling costs. Any excess of recorded investment in the loan over NRV at the time of foreclosure is booked against the allowance for loan and lease losses as a charge-off. Any excess in NRV over recorded investment in the loan at the time of foreclosure is recorded as a recovery of prior charge-off, if any, up to the amount of prior charge-off with excess recorded as an offset to foreclosure-related expense. OREO is 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 foreclosure-related expense. Gains and losses resulting from the sale or write down of OREO and income and expenses related to its operation are recorded in foreclosure-related expense. OREO covered by loss share agreements with the FDIC (covered OREO) is reported exclusive of expected reimbursement of cash flows from the FDIC at NRV. Subsequent downward adjustments to the estimated recoverable value of covered OREO result in a reduction in 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 OREO is discussed in more detail below. |
Covered Assets and Receivable from FDIC for Loss Share Agreements | Covered Assets and Receivable from FDIC for Loss Share Agreements Assets subject to loss share agreements with the FDIC include certain loans and OREO. These loss share agreements afford BancShares significant protection as they 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 and/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 is 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 valued on the same basis as the related indemnified assets. Because the PCI 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 and lease losses, would immediately increase the FDIC receivable, with the offset recorded through the Consolidated Statements of Income in other noninterest 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 are 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 other 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 | Payable to the FDIC for Loss Share Agreements The purchase and assumption agreements for certain FDIC-assisted transactions include payments that may be owed to the FDIC at the termination of the loss share agreements . The 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 liability is calculated by discounting estimated future payments and is reported in the Consolidated Balance Sheets as an FDIC loss share payable. The ultimate settlement amount of the 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) | Allowance for Loan and Lease Losses (ALLL) 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 PCI 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 the company has developed and documents a systematic methodology to determine its ALLL. BancShares evaluates its loan and lease portfolio using three portfolio segments; non-PCI commercial, non-PCI noncommercial and PCI. The non-PCI 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 individual loans. The non-PCI noncommercial segment includes noncommercial construction and land development, residential mortgage, revolving mortgage and consumer loans and the related ALLL is 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 for non-PCI loans. It also includes establishing an ALLL for PCI loans that have deteriorated since acquisition. 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. This allowance estimate 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 methodology also considers the remaining discounts recognized upon acquisition associated with purchased non-impaired loans in estimating a general allowance. 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. 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 non-PCI 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 non-PCI 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 updates by management, such as the number of periods included in the calculation of loss factors, loss severity and portfolio attrition. The qualitative framework used in estimating the general allowance 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 by the factors in the qualitative framework to address environmental factors not reflected in the historical experience. These adjustments are specific to the loan class level. In accordance with our allowance methodology, reserve factors related to the qualitative component of the ALLL were updated in 2015 resulting in a release of approximately $4.8 million of reserves. The ALLL for PCI loans is estimated based on the expected cash flows approach. Over the life of PCI loans, BancShares continues to estimate cash flows expected to be collected on individual loans or pools of loans 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 their 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. 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 ALLL. 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 did not have a material impact on the ALLL. Specific allocations are made for larger, individual impaired loans. 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 recorded investment in the loan and the estimated fair value. 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. 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, 2015 . 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. Non-PCI Commercial Loans and Leases Non-PCI commercial loans or leases, excluding purchased non-impaired loans, purchased leases and certain purchased revolving credit, are 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 non-PCI 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 D . The impairment assessment and determination of the related specific reserve for each impaired loan is based on the 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 recorded investment in the loan and the estimated fair value for originated loans. Specific valuation allowances for purchased non-impaired loans are established or partial charge offs are recorded for the difference between the loan amount and the estimated fair value with consideration for the remaining discounts recognized upon acquisition. 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, are 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 will fundamentally alter the medical care industry in the United States. In addition to these common risks for the majority of the non-PCI commercial segment, additional risks are inherent in certain classes of non-PCI 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. Non-PCI Noncommercial Loans and Leases Non-PCI noncommercial loans, excluding purchased non-impaired loans and certain purchased revolving credit, are 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 non-PCI 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 non-PCI 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 the 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 recorded investment in the loan and the estimated fair value for originated non-PCI loans. Specific valuation allowances for purchased non-impaired loans are established or partial charge offs are recorded for the difference between the recorded investment in the loan and the estimated fair value with consideration for the remaining discounts recognized upon acquisition. 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, are 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. PCI Loans The risks associated with PCI loans are generally consistent with the risks identified for commercial and noncommercial non-PCI loans and the classes of loans within those segments. However, these loans were underwritten by other institutions, often with weaker lending standards. Additionally, in some cases, collateral for PCI loans is located in regions that have experienced erosion of real estate values. Therefore, there exists a significant risk that PCI loans are not adequately supported by borrower cash flow or the values of underlying collateral. The ALLL for PCI loans is estimated based on the expected cash flows approach. Over the life of PCI loans, BancShares continues to estimate cash flows expected to be collected on individual loans or pools of loans 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 their 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 | 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. The reserve for unfunded commitments was not significant at December 31, 2015 or 2014 . |
Premises and Equipment | 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 7 to 40 years for premises and 3 to 10 years for furniture, software and equipment. Leasehold improvements are amortized over the terms of the respective leases, including renewal period if renewal period is reasonably assured (often through the presence of a bargain renewal option), 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 effective interest method to allocate payments between principal and interest. Rent expense and rental income on operating leases are recorded in noninterest expense and noninterest income, respectively, using the straight-line method over the appropriate lease terms. |
Goodwill and Other Intangible Assets | 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 that are separately identifiable assets, such as core deposit intangibles, resulting from acquisitions 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 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, which would require the second step of impairment testing to 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, 2015 , 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 that may trigger a decline in value including significant adverse changes in the business climate, considering various qualitative and quantitative factors to determine whether impairment exists. As the stock market experienced volatility after the annual impairment test, management monitored the volatility and determined it did not indicate an impairment test triggering event. Additionally, there have been no other such events subsequent to the annual impairment test performed during 2015. Mortgage servicing rights (MSRs) are recognized separately when they are retained as loans are sold or acquired through acquisition. When mortgage loans are sold, servicing rights are initially recorded at fair value and gains on sale of loans are recorded within mortgage income in the Consolidated Statements of Income. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized against mortgage income in non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans with the offset being a reduction in the cost basis of the servicing asset. MSRs are evaluated for impairment quarterly based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics and is recorded as a reduction of mortgage income in the Consolidated Statements of Income. If BancShares later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the valuation reserve may be recorded as an increase to mortgage income in the Consolidated Statements of Income, but only to the extent of previous impairment recognized. Other intangible assets with estimable lives are amortized over their estimated useful lives, which are periodically reviewed for reasonableness. Identifiable intangible assets represent the estimated value of the core deposits acquired and certain customer relationships. |
Securities Sold Under Repurchase Agreements | 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, 2015 and 2014 , BancShares had $592.2 million and $294.4 million of securities sold under repurchase agreements included as short-term borrowings on the Consolidated Balance Sheets, respectively. |
Fair Values | 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 M |
Income Taxes | 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 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 | 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 Sheets with an offset to accumulated other comprehensive income for the effective portion and an offset to the Consolidated Statements 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 presented. 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. |
Per Share Data | 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 | Defined Benefit Pension Plan BancShares maintains noncontributory defined benefit pension plans covering certain qualifying employees. The calculation of the obligations and related expenses under the plans require 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 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 plans are discounted based on this yield curve, and a single discount rate is calculated to achieve the same present value. Refer to Note N for disclosures related to BancShares' defined benefit pension plans. |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2015-10, Technical Corrections and Improvements The amendments in this ASU represent changes to clarify the Codification, correct unintended application of guidance and make minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Additionally, some of the amendments will make the Codification easier to understand and easier to apply by eliminating inconsistencies, providing needed clarifications, and improving the presentation of guidance in the Codification. The transition guidance varies based on the amendments in this ASU. The amendments in this ASU that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. All other amendments were effective upon issuance. We adopted the amendments effective second quarter of 2015. The adoption did not have an impact on our consolidated financial position or consolidated results of operations. FASB ASU 2015-08, Business Combinations (Topic 805): Pushdown Accounting - Amendments to Securities and Exchange Commission (SEC) Paragraphs Pursuant to Staff Accounting Bulletin No. 115 The amendments in this ASU remove references to SEC Staff Accounting Bulletin (SAB) Topic 5.J as the SEC staff previously rescinded its guidance with the issuance of SAB No. 115 when the FASB issued its own pushdown accounting guidance in ASU 2014-17, an amendment we adopted effective fourth quarter of 2014. We adopted the amendments in ASU 2015-08 effective second quarter of 2015. The adoption did not have an impact on our consolidated financial position or consolidated results of operations. FASB ASU 2014-14, Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure This ASU requires a reporting entity to derecognize a mortgage loan and recognize a separate other receivable upon foreclosure if the following conditions are met: (1) the loan has a government guarantee that is not separable from the loan before foreclosure; (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and (3) the creditor has the ability to recover under that claim and at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance expected to be recovered from the guarantor. The amendments in this ASU were effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. We adopted this guidance effective first quarter of 2015. The initial adoption did not have an impact on our consolidated financial position or consolidated results of operations. FASB ASU 2014-11, Transfers and Servicing (Topic 860) This ASU aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as a repurchase financing with the accounting for other typical repurchase agreements. Going forward, these transactions would all be accounted for as secured borrowings. The guidance eliminates sale accounting for repurchase-to-maturity transactions and supersedes the guidance under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement, which has resulted in outcomes referred to as off-balance-sheet accounting. The ASU requires a new disclosure for transactions economically similar to repurchase agreements in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction. The ASU also requires expanded disclosures about the nature of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The accounting changes in this ASU were effective for fiscal years beginning after December 15, 2014. In addition, the disclosures for certain transactions accounted for as a sale were effective for the fiscal period beginning after December 15, 2014, while the disclosures for transactions accounted for as secured borrowings were required to be presented for fiscal periods beginning after December 15, 2014, and interim periods beginning after March 15, 2015. We adopted the guidance effective first quarter of 2015. The initial adoption did not have any effect on our consolidated financial position or consolidated results of operations. The new disclosures required by this ASU are included in Note K . FASB ASU 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40) This ASU clarifies that an in-substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in this ASU were effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. We adopted the guidance effective first quarter of 2015. The initial adoption did not have any effect on our consolidated financial position or consolidated results of operations. The new disclosures required by this ASU are included in Note G . Recently Issued Accounting Pronouncements FASB ASU 2016-01, Financial Instruments—Overall (Subtopic 825-10) : Recognition and Measurement of Financial Assets and Financial Liabilities This ASU addresses certain aspects of recognition, measurement, presentation and disclosure. The amendments in this ASU (1) require equity investments to be measured at fair value with changes in fair value recognized in net income; (2) simplify the impairment assessment of equity investments without readily determinable fair value; (3) require public business entities to use exit prices, rather than entry prices, when measuring fair value of financial instruments for disclosure purposes; (4) require separate presentation of financial assets and financial liabilities by measurement category and form of financial assets on the balance sheet or the accompanying notes to the financial statements; (5) eliminate the requirement to disclose the method(s) and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost on the balance sheet; (6) require separate presentation in other comprehensive income of the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; and (7) state that a valuation allowance on deferred tax assets related to available-for-sale securities should be evaluated in combination with other deferred tax assets. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The ASU only permits early adoption of the instrument-specific credit risk provision. We are currently evaluating the impact of the new standard and we will adopt during the first quarter of 2018. FASB ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments This ASU eliminates the requirement to retrospectively account for adjustments made to provisional amounts recognized in a business combination and requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts must be calculated as if the accounting had been completed at the acquisition date. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments in this ASU should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this ASU with earlier application permitted for financial statements that have not been issued. We will adopt the guidance effective in the first quarter of 2016 and do not anticipate any impact on our consolidated financial position or consolidated results of operations as a result of adoption. FASB ASU 2015-03, Interest–Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs This ASU simplifies the presentation of debt issuance costs by requiring that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of debt liability, consistent with debt discounts or premiums. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. This ASU is effective for interim and annual periods beginning after December 15, 2015 for public business entities, and is to be applied retrospectively. Early adoption is permitted. We will adopt the guidance effective in the first quarter of 2016 and do not anticipate any impact on our consolidated financial position or consolidated results of operations as a result of adoption. FASB ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis This ASU improves targeted areas of consolidation guidance for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. In addition to reducing the number of consolidation models from four to two, the new standard places more emphasis on risk of loss when determining a controlling financial interest, reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a variable interest entity, and changing consolidation conclusions for public and private companies in several industries that typically make use of limited partnerships or VIEs. The amendments in this ASU are effective for periods beginning after December 15, 2015 for public business entities. Early adoption is permitted. We will adopt the guidance effective in the first quarter of 2016 and do not anticipate any significant impact on our consolidated financial position or consolidated results of operations as a result of adoption. FASB ASU 2014-09, Revenue from Contracts with Customers (Topic 606) In May 2014, the FASB issued a standard on the recognition of revenue from contracts with customers with the core principle being for companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard also results in enhanced disclosures about revenue, provides guidance for transactions that were not previously addressed comprehensively and improves guidance for multiple-element arrangements. Per ASU 2015-14, Deferral of the Effective Date , this guidance was deferred and is effective for fiscal periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted for fiscal periods beginning after December 15, 2016. We are currently evaluating the impact of the new standard and we will adopt during the first quarter of 2018 using one of two retrospective application methods. |
Business Combinations Busines33
Business Combinations Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Business Acquisition [Line Items] | |
Pro Forma Financial Information for Bancoporiation Acquisition | Year ended December 31 (Dollars in thousands, unaudited) 2014 Total revenue (interest income plus noninterest income) $ 1,336,340 Net loss $ (13,171 ) |
Bancorporation | |
Business Acquisition [Line Items] | |
Schedule of Assets Acquired and Liabilities Assumed | The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) Purchase Price Value of shares of BancShares Class A common stock issued to Bancorporation shareholders $ 560,370 Value of shares of BancShares Class B common stock issued to Bancorporation shareholders 3,877 Cash paid to Bancorporation shareholders 30,394 Fair value of Bancorporation shares owned by BancShares 29,551 Total purchase price 624,192 Assets Cash and due from banks $ 194,570 Overnight investments 1,087,325 Investment securities available for sale 2,011,263 Loans held for sale 30,997 Loans and leases 4,491,067 Premises and equipment 238,646 Other real estate owned 35,344 Income earned not collected 15,266 FDIC loss share receivable 5,106 Other intangible assets 109,416 Other assets 56,367 Total assets acquired 8,275,367 Liabilities Deposits 7,174,817 Short-term borrowings 295,681 Long-term obligations 124,852 FDIC loss share payable 224 Other liabilities 59,834 Total liabilities assumed $ 7,655,408 Fair value of net assets acquired 619,959 Goodwill recorded for Bancorporation $ 4,233 |
Capitol City Bank and Trust | |
Business Acquisition [Line Items] | |
Schedule of Assets Acquired and Liabilities Assumed | The following table provides the identifiable assets acquired and liabilities assumed at their estimated fair values as of the acquisition date. (Dollars in thousands) As recorded by FCB Assets Cash and cash equivalents $ 19,622 Investment securities 35,413 Loans 154,496 Intangible assets 690 Other assets 1,714 Total assets acquired 211,935 Liabilities Deposits 266,352 Short-term borrowings 5,501 Other liabilities 667 Total liabilities assumed 272,520 Fair value of net liabilities assumed (60,585 ) Cash received from FDIC 103,515 Gain on acquisition of CCBT $ 42,930 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Investments [Abstract] | |
Aggregate Values And Unrealized Gains And Losses Of Investment Securities | The amortized cost and fair value of investment securities classified as available for sale and held to maturity at December 31, 2015 and 2014 , were as follows: December 31, 2015 (Dollars in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Investment securities available for sale U.S. Treasury $ 1,675,996 $ 4 $ 1,118 $ 1,674,882 Government agency 498,804 230 374 498,660 Mortgage-backed securities 4,692,447 5,120 29,369 4,668,198 Equity securities 7,935 968 10 8,893 Other 10,615 45 — 10,660 Total investment securities available for sale $ 6,885,797 $ 6,367 $ 30,871 $ 6,861,293 December 31, 2014 Cost Gross unrealized gains Gross unrealized losses Fair value U.S. Treasury $ 2,626,900 $ 2,922 $ 152 $ 2,629,670 Government agency 908,362 702 247 908,817 Mortgage-backed securities 3,628,187 16,964 11,847 3,633,304 Municipal securities 125 1 — 126 Total investment securities available for sale $ 7,163,574 $ 20,589 $ 12,246 $ 7,171,917 December 31, 2015 Cost Gross unrealized gains Gross unrealized losses Fair value Investment securities held to maturity Mortgage-backed securities $ 255 $ 10 $ — $ 265 December 31, 2014 Cost Gross unrealized gains Gross unrealized losses Fair value Mortgage-backed securities $ 518 $ 26 $ — $ 544 |
Investment Securities Maturity Information | The following table provides the amortized cost and fair value by contractual maturity. Expected maturities will differ from contractual maturities on certain securities because borrowers and issuers may have the right to call or prepay obligations with or without prepayment penalties. Repayments of mortgage-backed securities are dependent on the repayments of the underlying loan balances. Equity securities do not have a stated maturity date. December 31, 2015 December 31, 2014 (Dollars in thousands) Cost Fair value Cost Fair value Investment securities available for sale Non-amortizing securities maturing in: One year or less $ 1,255,714 $ 1,255,094 $ 447,866 $ 447,992 One through five years 919,086 918,448 3,087,521 3,090,621 Five through 10 years 8,500 8,500 — — Over 10 years 2,115 2,160 — — Mortgage-backed securities 4,692,447 4,668,198 3,628,187 3,633,304 Equity securities 7,935 8,893 — — Total investment securities available for sale $ 6,885,797 $ 6,861,293 $ 7,163,574 $ 7,171,917 Investment securities held to maturity Mortgage-backed securities held to maturity $ 255 $ 265 $ 518 $ 544 |
Securities Gains (Losses) | For each period presented, securities gains (losses) include the following: Year ended December 31 (Dollars in thousands) 2015 2014 2013 Gross gains on retirement/sales of investment securities available for sale $ 10,834 $ 29,129 $ — Gross losses on sales of investment securities available for sale (17 ) (33 ) — Total securities gains $ 10,817 $ 29,096 $ — |
Investment Securities With Unrealized Losses | The following table provides information regarding securities with unrealized losses as of December 31, 2015 and 2014 : December 31, 2015 Less than 12 months 12 months or more Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities available for sale: U.S. Treasury $ 1,539,637 $ 1,118 $ — $ — $ 1,539,637 $ 1,118 Government agency 229,436 374 — — 229,436 374 Mortgage-backed securities 3,570,470 23,275 280,126 6,094 3,850,596 29,369 Equity securities 728 10 — — 728 10 Other — — — — — — Total $ 5,340,271 $ 24,777 $ 280,126 $ 6,094 $ 5,620,397 $ 30,871 December 31, 2014 Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities available for sale: U.S. Treasury $ 338,612 $ 151 $ 1,015 $ 1 $ 339,627 $ 152 Government agency 261,288 247 — — 261,288 247 Mortgage-backed securities 573,374 1,805 831,405 10,042 1,404,779 11,847 Total $ 1,173,274 $ 2,203 $ 832,420 $ 10,043 $ 2,005,694 $ 12,246 |
Loans and Leases (Tables)
Loans and Leases (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans And Leases Outstanding | Loans and leases outstanding include the following as of the dates indicated: (Dollars in thousands) December 31, 2015 December 31, 2014 Non-PCI loans and leases: Commercial: Construction and land development $ 620,352 $ 493,133 Commercial mortgage 8,274,548 7,552,948 Other commercial real estate 321,021 244,875 Commercial and industrial 2,368,958 1,988,934 Lease financing 730,778 571,916 Other 314,832 353,833 Total commercial loans 12,630,489 11,205,639 Noncommercial: Residential mortgage 2,695,985 2,493,058 Revolving mortgage 2,523,106 2,561,800 Construction and land development 220,073 205,016 Consumer 1,219,821 1,117,454 Total noncommercial loans 6,658,985 6,377,328 Total non-PCI loans and leases 19,289,474 17,582,967 PCI loans: Commercial: Construction and land development $ 33,880 $ 78,079 Commercial mortgage 525,468 577,518 Other commercial real estate 17,076 40,193 Commercial and industrial 15,182 27,254 Other 2,008 3,079 Total commercial loans 593,614 726,123 Noncommercial: Residential mortgage 302,158 382,340 Revolving mortgage 52,471 74,109 Construction and land development — 912 Consumer 2,273 3,014 Total noncommercial loans 356,902 460,375 Total PCI loans 950,516 1,186,498 Total loans and leases $ 20,239,990 $ 18,769,465 |
Composition Of The Loans And Leases Outstanding By Credit Quality Indicator | The composition of the loans and leases outstanding at December 31, 2015 , and December 31, 2014 , by credit quality indicator is provided below: Non-PCI commercial loans and leases (Dollars in thousands) Construction and land development Commercial mortgage Other commercial real estate Commercial and industrial Lease financing Other Total non-PCI commercial loans and leases Grade: December 31, 2015 Pass $ 611,314 $ 8,024,831 $ 318,187 $ 2,219,606 $ 719,338 $ 311,401 $ 12,204,677 Special mention 5,191 100,220 475 19,361 4,869 1,905 132,021 Substandard 3,847 146,071 959 21,322 6,375 1,526 180,100 Doubtful — 599 — 408 169 — 1,176 Ungraded — 2,827 1,400 108,261 27 — 112,515 Total $ 620,352 $ 8,274,548 $ 321,021 $ 2,368,958 $ 730,778 $ 314,832 $ 12,630,489 December 31, 2014 Pass $ 474,374 $ 7,284,714 $ 242,053 $ 1,859,415 $ 564,319 $ 349,111 $ 10,773,986 Special mention 13,927 129,247 909 27,683 3,205 1,384 176,355 Substandard 4,720 134,677 1,765 8,878 3,955 3,338 157,333 Doubtful — 2,366 — 164 365 — 2,895 Ungraded 112 1,944 148 92,794 72 — 95,070 Total $ 493,133 $ 7,552,948 $ 244,875 $ 1,988,934 $ 571,916 $ 353,833 $ 11,205,639 Non-PCI noncommercial loans and leases (Dollars in thousands) Residential mortgage Revolving mortgage Construction and land development Consumer Total non-PCI noncommercial December 31, 2015 Current $ 2,651,209 $ 2,502,065 $ 214,555 $ 1,210,832 $ 6,578,661 30-59 days past due 23,960 11,706 3,211 5,545 44,422 60-89 days past due 7,536 3,704 669 1,822 13,731 90 days or greater past due 13,280 5,631 1,638 1,622 22,171 Total $ 2,695,985 $ 2,523,106 $ 220,073 $ 1,219,821 $ 6,658,985 December 31, 2014 Current $ 2,454,797 $ 2,542,807 $ 202,344 $ 1,110,153 $ 6,310,101 30-59 days past due 23,288 11,097 1,646 4,577 40,608 60-89 days past due 6,018 2,433 824 1,619 10,894 90 days or greater past due 8,955 5,463 202 1,105 15,725 Total $ 2,493,058 $ 2,561,800 $ 205,016 $ 1,117,454 $ 6,377,328 PCI commercial loans (Dollars in thousands) Construction and land development Commercial mortgage Other commercial real estate Commercial and industrial Other Total PCI commercial loans Grade: December 31, 2015 Pass $ 14,710 $ 262,579 $ 7,366 $ 9,302 $ 706 $ 294,663 Special mention 758 87,870 60 937 — 89,625 Substandard 14,131 163,801 9,229 4,588 1,302 193,051 Doubtful 4,281 10,875 — 282 — 15,438 Ungraded — 343 421 73 — 837 Total $ 33,880 $ 525,468 $ 17,076 $ 15,182 $ 2,008 $ 593,614 December 31, 2014 Pass $ 13,514 $ 300,187 $ 11,033 $ 16,637 $ 801 $ 342,172 Special mention 6,063 98,724 16,271 4,137 — 125,195 Substandard 53,739 171,920 12,889 6,312 2,278 247,138 Doubtful 2,809 6,302 — 130 — 9,241 Ungraded 1,954 385 — 38 — 2,377 Total $ 78,079 $ 577,518 $ 40,193 $ 27,254 $ 3,079 $ 726,123 PCI noncommercial loans (Dollars in thousands) Residential mortgage Revolving mortgage Construction and land development Consumer Total PCI noncommercial December 31, 2015 Current $ 257,207 $ 47,901 $ — $ 1,981 $ 307,089 30-59 days past due 12,318 1,127 — 86 13,531 60-89 days past due 4,441 501 — 132 5,074 90 days or greater past due 28,192 2,942 — 74 31,208 Total $ 302,158 $ 52,471 $ — $ 2,273 $ 356,902 December 31, 2014 Current $ 326,589 $ 68,548 $ 506 2,582 $ 398,225 30-59 days past due 11,432 1,405 — 147 12,984 60-89 days past due 10,073 345 — 25 10,443 90 days or greater past due 34,246 3,811 406 260 38,723 Total $ 382,340 $ 74,109 $ 912 $ 3,014 $ 460,375 |
Aging Of The Outstanding Loans And Leases By Class Excluding Loans Impaired At Acquisition Date | The aging of the outstanding non-PCI loans and leases, by class, at December 31, 2015 , and December 31, 2014 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 as 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. December 31, 2015 (Dollars in thousands) 30-59 days past due 60-89 days past due 90 days or greater Total past due Current Total loans and leases Non-PCI loans and leases: Construction and land development - commercial $ 987 $ 283 $ 463 $ 1,733 $ 618,619 $ 620,352 Commercial mortgage 13,023 3,446 14,495 30,964 8,243,584 8,274,548 Other commercial real estate 884 — 142 1,026 319,995 321,021 Commercial and industrial 2,133 1,079 1,780 4,992 2,363,966 2,368,958 Lease financing 2,070 2 164 2,236 728,542 730,778 Residential mortgage 23,960 7,536 13,280 44,776 2,651,209 2,695,985 Revolving mortgage 11,706 3,704 5,631 21,041 2,502,065 2,523,106 Construction and land development - noncommercial 3,211 669 1,638 5,518 214,555 220,073 Consumer 5,545 1,822 1,622 8,989 1,210,832 1,219,821 Other 3 164 134 301 314,531 314,832 Total non-PCI loans and leases $ 63,522 $ 18,705 $ 39,349 $ 121,576 $ 19,167,898 $ 19,289,474 December 31, 2014 30-59 days past due 60-89 days past due 90 days or greater Total past due Current Total loans and leases Non-PCI loans and leases: Construction and land development - commercial $ 520 $ 283 $ 330 $ 1,133 $ 492,000 $ 493,133 Commercial mortgage 11,367 4,782 8,061 24,210 7,528,738 7,552,948 Other commercial real estate 206 70 102 378 244,497 244,875 Commercial and industrial 2,843 1,545 378 4,766 1,984,168 1,988,934 Lease financing 1,631 8 2 1,641 570,275 571,916 Residential mortgage 23,288 6,018 8,955 38,261 2,454,797 2,493,058 Revolving mortgage 11,097 2,433 5,463 18,993 2,542,807 2,561,800 Construction and land development - noncommercial 1,646 824 202 2,672 202,344 205,016 Consumer 4,577 1,619 1,105 7,301 1,110,153 1,117,454 Other 146 1,966 — 2,112 351,721 353,833 Total non-PCI loans and leases $ 57,321 $ 19,548 $ 24,598 $ 101,467 $ 17,481,500 $ 17,582,967 |
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, 2015 and December 31, 2014 for non-PCI loans, were as follows: December 31, 2015 December 31, 2014 (Dollars in thousands) Nonaccrual loans and leases Loans and leases > 90 days and accruing Nonaccrual loans and leases Loans and leases > 90 days and accruing Non-PCI loans and leases: Construction and land development - commercial $ 425 $ 273 $ 343 $ 56 Commercial mortgage 42,116 242 24,720 1,003 Commercial and industrial 6,235 953 1,741 239 Lease financing 389 — 374 2 Other commercial real estate 239 — 619 35 Construction and land development - noncommercial 2,164 — — 202 Residential mortgage 29,977 838 14,242 3,191 Revolving mortgage 12,704 — — 5,463 Consumer 1,472 1,007 — 1,059 Other 133 2 1,966 — Total non-PCI loans and leases $ 95,854 $ 3,315 $ 44,005 $ 11,250 |
Changes In Carrying Value Of Acquired Impaired Loans | The following table provides changes in the carrying value of purchased credit-impaired loans during the years ended December 31, 2015 and 2014 : (Dollars in thousands) 2015 2014 Balance at January 1 $ 1,186,498 $ 1,029,426 Fair value of PCI loans acquired during the year 154,496 623,408 Accretion 114,580 112,368 Payments received and other changes, net (505,058 ) (578,704 ) Balance at December 31 $ 950,516 $ 1,186,498 Unpaid principal balance at December 31 $ 1,693,372 $ 2,057,691 |
Changes In The Amount Of Accretable Yield | Purchased non-impaired loans and leases The following table relates to purchased non-impaired loans and leases acquired in the Bancorporation merger for 2014 and provides the contractually required payments, estimate of contractual cash flows not expected to be collected and fair value of the acquired loans at the merger date. (Dollars in thousands) 2014 Contractually required payments $ 4,708,681 Contractual cash flows not expected to be collected $ 59,187 Fair value at acquisition date $ 4,175,586 The recorded fair values of purchased non-impaired loans and leases acquired in the Bancorporation transaction as of the merger date were as follows: (Dollars in thousands) 2014 Commercial: Construction and land development $ 134,941 Commercial mortgage 951,794 Other commercial real estate 61,856 Commercial and industrial 431,367 Lease financing 72,563 Other 95,379 Total commercial loans and leases 1,747,900 Noncommercial: Residential mortgage 1,305,140 Revolving mortgage 419,106 Construction and land development 7,165 Consumer 696,275 Total noncommercial loans and leases 2,427,686 Total non-PCI loans $ 4,175,586 |
Loans and Leases Schedule of Lo
Loans and Leases Schedule of Loans Receivable (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loans And Leases Outstanding | Loans and leases outstanding include the following as of the dates indicated: (Dollars in thousands) December 31, 2015 December 31, 2014 Non-PCI loans and leases: Commercial: Construction and land development $ 620,352 $ 493,133 Commercial mortgage 8,274,548 7,552,948 Other commercial real estate 321,021 244,875 Commercial and industrial 2,368,958 1,988,934 Lease financing 730,778 571,916 Other 314,832 353,833 Total commercial loans 12,630,489 11,205,639 Noncommercial: Residential mortgage 2,695,985 2,493,058 Revolving mortgage 2,523,106 2,561,800 Construction and land development 220,073 205,016 Consumer 1,219,821 1,117,454 Total noncommercial loans 6,658,985 6,377,328 Total non-PCI loans and leases 19,289,474 17,582,967 PCI loans: Commercial: Construction and land development $ 33,880 $ 78,079 Commercial mortgage 525,468 577,518 Other commercial real estate 17,076 40,193 Commercial and industrial 15,182 27,254 Other 2,008 3,079 Total commercial loans 593,614 726,123 Noncommercial: Residential mortgage 302,158 382,340 Revolving mortgage 52,471 74,109 Construction and land development — 912 Consumer 2,273 3,014 Total noncommercial loans 356,902 460,375 Total PCI loans 950,516 1,186,498 Total loans and leases $ 20,239,990 $ 18,769,465 |
Allowance for Loan and Lease 37
Allowance for Loan and Lease Losses (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Loans and Leases Receivable, Allowance [Abstract] | |
Allocation of Allowance for Loan and Lease Losses [Table Text Block] | Activity in the allowance for loan and lease losses is as follows: Non-PCI PCI Total (dollars in thousands) Balance at December 31, 2012 $ 179,046 $ 139,972 $ 319,018 Reclassification (1) 7,368 — 7,368 Provision (credit) 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 Provision (credit) for loan and lease losses 15,260 (14,620 ) 640 Loans and leases charged off (20,499 ) (17,271 ) (37,770 ) Loans and leases recovered 8,202 — 8,202 Net charge-offs (12,297 ) (17,271 ) (29,568 ) Balance at December 31, 2014 182,837 21,629 204,466 Provision (credit) for loan and lease losses 22,937 (2,273 ) 20,664 Loans and leases charged off (25,304 ) (3,044 ) (28,348 ) Loans and leases recovered 9,434 — 9,434 Net charge-offs (15,870 ) (3,044 ) (18,914 ) Balance at December 31, 2015 $ 189,904 $ 16,312 $ 206,216 (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: For the years ended December 31, 2015, 2014 and 2013 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial Lease financing Other Residential mortgage Revolving mortgage Construction and land development - non- commercial Consumer Non- specific Total Non-PCI Loans Allowance for loan and lease losses: Balance at January 1, 2013 $ 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 (credits) 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 Provision (credits) 1,735 (16,746 ) (401 ) 10,441 (473 ) 3,007 1,219 6,301 245 9,932 — 15,260 Charge-offs (316 ) (1,147 ) — (3,014 ) (100 ) (13 ) (1,260 ) (4,744 ) (118 ) (9,787 ) — (20,499 ) Recoveries 207 2,825 124 938 110 — 191 854 84 2,869 — 8,202 Balance at December 31, 2014 11,961 85,189 732 30,727 4,286 3,184 10,661 18,650 892 16,555 — 182,837 Provision (credits) 4,773 (15,822 ) 1,569 17,432 1,602 (1,420 ) 4,202 (927 ) 541 10,987 — 22,937 Charge-offs (1,012 ) (1,498 ) (178 ) (5,952 ) (402 ) — (1,619 ) (2,925 ) (22 ) (11,696 ) — (25,304 ) Recoveries 566 2,027 45 909 38 91 861 1,173 74 3,650 — 9,434 Balance at December 31, 2015 $ 16,288 $ 69,896 $ 2,168 $ 43,116 $ 5,524 $ 1,855 $ 14,105 $ 15,971 $ 1,485 $ 19,496 $ — $ 189,904 (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 . December 31, 2015 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial Lease financing Other Residential mortgage Revolving mortgage Construction and land development - non-commercial Consumer Total Non-PCI Loans Allowance for loan and lease losses: ALLL for loans and leases individually evaluated for impairment $ 123 $ 3,370 $ 289 $ 1,118 $ 213 $ — $ 1,212 $ 299 $ 49 $ 527 $ 7,200 ALLL for loans and leases collectively evaluated for impairment 16,165 66,526 1,879 41,998 5,311 1,855 12,893 15,672 1,436 18,969 182,704 Total allowance for loan and lease losses $ 16,288 $ 69,896 $ 2,168 $ 43,116 $ 5,524 $ 1,855 $ 14,105 $ 15,971 $ 1,485 $ 19,496 $ 189,904 Loans and leases: Loans and leases individually evaluated for impairment $ 3,094 $ 95,107 $ 427 $ 17,910 $ 1,755 $ 1,183 $ 22,986 $ 5,883 $ 784 $ 1,238 $ 150,367 Loans and leases collectively evaluated for impairment 617,258 8,179,441 320,594 2,351,048 729,023 313,649 2,672,999 2,517,223 219,289 1,218,583 19,139,107 Total loan and leases $ 620,352 $ 8,274,548 $ 321,021 $ 2,368,958 $ 730,778 $ 314,832 $ 2,695,985 $ 2,523,106 $ 220,073 $ 1,219,821 $ 19,289,474 December 31, 2014 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial Lease financing Other Residential mortgage Revolving mortgage Construction and land development - non-commercial Consumer Total Non-PCI Loans Allowance for loan and lease losses: ALLL for loans and leases individually evaluated for impairment $ 92 $ 8,610 $ 112 $ 1,743 $ 150 $ 1,972 $ 1,360 $ 1,052 $ 71 $ 555 $ 15,717 ALLL for loans and leases collectively evaluated for impairment $ 11,869 $ 76,579 $ 620 $ 28,984 $ 4,136 $ 1,212 $ 9,301 $ 17,598 $ 821 $ 16,000 $ 167,120 Total allowance for loan and lease losses $ 11,961 $ 85,189 $ 732 $ 30,727 $ 4,286 $ 3,184 $ 10,661 $ 18,650 $ 892 $ 16,555 $ 182,837 Loans and leases: Loans and leases individually evaluated for impairment $ 1,620 $ 82,803 $ 584 $ 11,040 $ 623 $ 2,000 $ 14,913 $ 3,675 $ 1,340 $ 995 $ 119,593 Loans and leases collectively evaluated for impairment 491,513 7,470,145 244,291 1,977,594 571,293 351,833 2,478,145 2,558,125 203,676 1,116,459 17,463,074 Total loan and leases $ 493,133 $ 7,552,948 $ 244,875 $ 1,988,634 $ 571,916 $ 353,833 $ 2,493,058 $ 2,561,800 $ 205,016 $ 1,117,454 $ 17,582,667 For the years ended December 31, 2015, 2014 and 2013 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial Residential mortgage Revolving mortgage Construction and land development - noncommercial Consumer and other Total PCI Loans Allowance for loan and lease losses: Balance at January 1, 2013 $ 31,186 $ 50,275 $ 11,234 $ 8,897 $ 19,837 $ 9,754 $ 8,287 $ 502 $ 139,972 Provision (credits) (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 Provision (credits) 1,284 (7,903 ) (1,385 ) (2,023 ) (5,576 ) 1,523 (395 ) (145 ) (14,620 ) Charge-offs (2,454 ) (11,868 ) 106 (2,012 ) (406 ) (483 ) (104 ) (50 ) (17,271 ) Recoveries — — — — — — — — — Balance at December 31, 2014 150 10,135 75 1,240 5,820 3,999 183 27 21,629 Provision (credits) 1,029 (1,426 ) 698 (470 ) 72 (2,720 ) (183 ) 727 (2,273 ) Charge-offs (97 ) (871 ) — (325 ) (494 ) (756 ) — (501 ) (3,044 ) Recoveries — — — — — — — — — Balance at December 31, 2015 $ 1,082 $ 7,838 $ 773 $ 445 $ 5,398 $ 523 $ — $ 253 $ 16,312 December 31, 2015 ALLL for loans and leases acquired with deteriorated credit quality $ 1,082 $ 7,838 $ 773 $ 445 $ 5,398 $ 523 $ — $ 253 $ 16,312 Loans and leases acquired with deteriorated credit quality 33,880 525,468 17,076 15,182 302,158 52,471 — 4,281 950,516 December 31, 2014 ALLL for loans and leases acquired with deteriorated credit quality 150 10,135 75 1,240 5,820 3,999 183 27 21,629 Loans and leases acquired with deteriorated credit quality 78,079 577,518 40,193 27,254 382,340 74,109 912 6,093 1,186,498 |
Allowance for Loan and Lease Losses | The following tables provide information on non-PCI 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. December 31, 2015 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Construction and land development - commercial $ 1,623 $ 1,471 $ 3,094 $ 4,428 $ 123 Commercial mortgage 41,793 53,314 95,107 103,763 3,370 Other commercial real estate 305 122 427 863 289 Commercial and industrial 8,544 9,366 17,910 21,455 1,118 Lease financing 1,651 104 1,755 1,956 213 Other — 1,183 1,183 1,260 — Residential mortgage 10,097 12,889 22,986 25,043 1,212 Revolving mortgage 1,105 4,778 5,883 7,120 299 Construction and land development - noncommercial 693 91 784 784 49 Consumer 1,050 188 1,238 1,294 527 Total non-PCI impaired loans and leases $ 66,861 $ 83,506 $ 150,367 $ 167,966 $ 7,200 December 31, 2014 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Construction and land development - commercial $ 996 $ 624 $ 1,620 $ 6,945 $ 92 Commercial mortgage 57,324 25,479 82,803 87,702 8,610 Other commercial real estate 112 472 584 913 112 Commercial and industrial 10,319 721 11,040 12,197 1,743 Lease financing 319 304 623 623 150 Other 2,000 — 2,000 2,000 1,972 Residential mortgage 10,198 4,715 14,913 15,746 1,360 Revolving mortgage 3,675 — 3,675 4,933 1,052 Construction and land development - noncommercial 1,077 263 1,340 1,340 71 Consumer 987 8 995 1,067 555 Total non-PCI impaired loans and leases $ 87,007 $ 32,586 $ 119,593 $ 133,466 $ 15,717 The following tables show the average non-PCI impaired loan balance and the interest income recognized by loan class for the years ended December 31, 2015 , 2014 and 2013 : Year ended December 31, 2015 (Dollars in thousands) YTD Average Balance YTD Interest Income Recognized Non-PCI impaired loans and leases: Construction and land development - commercial $ 3,164 $ 146 Commercial mortgage 89,934 3,129 Other commercial real estate 481 12 Commercial and industrial 14,587 510 Lease financing 1,718 74 Other 1,673 37 Residential mortgage 18,524 557 Revolving mortgage 4,368 97 Construction and land development - noncommercial 829 38 Consumer 1,126 75 Total non-PCI impaired loans and leases $ 136,404 $ 4,675 Year ended December 31, 2014 Non-PCI impaired loans and leases: Construction and land development - commercial $ 1,689 $ 83 Commercial mortgage 86,250 3,698 Other commercial real estate 2,125 80 Commercial and industrial 13,433 580 Lease financing 774 44 Other 528 29 Residential mortgage 15,487 593 Revolving mortgage 3,922 134 Construction and land development - noncommercial 1,678 98 Consumer 1,535 88 Total non-PCI impaired loans and leases $ 127,421 $ 5,427 Year ended December 31, 2013 Non-PCI 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 non-PCI impaired loans and leases $ 151,330 $ 7,817 ALLOWANCE FOR LOAN AND LEASE LOSSES Activity in the allowance for loan and lease losses is as follows: Non-PCI PCI Total (dollars in thousands) Balance at December 31, 2012 $ 179,046 $ 139,972 $ 319,018 Reclassification (1) 7,368 — 7,368 Provision (credit) 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 Provision (credit) for loan and lease losses 15,260 (14,620 ) 640 Loans and leases charged off (20,499 ) (17,271 ) (37,770 ) Loans and leases recovered 8,202 — 8,202 Net charge-offs (12,297 ) (17,271 ) (29,568 ) Balance at December 31, 2014 182,837 21,629 204,466 Provision (credit) for loan and lease losses 22,937 (2,273 ) 20,664 Loans and leases charged off (25,304 ) (3,044 ) (28,348 ) Loans and leases recovered 9,434 — 9,434 Net charge-offs (15,870 ) (3,044 ) (18,914 ) Balance at December 31, 2015 $ 189,904 $ 16,312 $ 206,216 (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: For the years ended December 31, 2015, 2014 and 2013 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial Lease financing Other Residential mortgage Revolving mortgage Construction and land development - non- commercial Consumer Non- specific Total Non-PCI Loans Allowance for loan and lease losses: Balance at January 1, 2013 $ 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 (credits) 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 Provision (credits) 1,735 (16,746 ) (401 ) 10,441 (473 ) 3,007 1,219 6,301 245 9,932 — 15,260 Charge-offs (316 ) (1,147 ) — (3,014 ) (100 ) (13 ) (1,260 ) (4,744 ) (118 ) (9,787 ) — (20,499 ) Recoveries 207 2,825 124 938 110 — 191 854 84 2,869 — 8,202 Balance at December 31, 2014 11,961 85,189 732 30,727 4,286 3,184 10,661 18,650 892 16,555 — 182,837 Provision (credits) 4,773 (15,822 ) 1,569 17,432 1,602 (1,420 ) 4,202 (927 ) 541 10,987 — 22,937 Charge-offs (1,012 ) (1,498 ) (178 ) (5,952 ) (402 ) — (1,619 ) (2,925 ) (22 ) (11,696 ) — (25,304 ) Recoveries 566 2,027 45 909 38 91 861 1,173 74 3,650 — 9,434 Balance at December 31, 2015 $ 16,288 $ 69,896 $ 2,168 $ 43,116 $ 5,524 $ 1,855 $ 14,105 $ 15,971 $ 1,485 $ 19,496 $ — $ 189,904 (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 . December 31, 2015 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial Lease financing Other Residential mortgage Revolving mortgage Construction and land development - non-commercial Consumer Total Non-PCI Loans Allowance for loan and lease losses: ALLL for loans and leases individually evaluated for impairment $ 123 $ 3,370 $ 289 $ 1,118 $ 213 $ — $ 1,212 $ 299 $ 49 $ 527 $ 7,200 ALLL for loans and leases collectively evaluated for impairment 16,165 66,526 1,879 41,998 5,311 1,855 12,893 15,672 1,436 18,969 182,704 Total allowance for loan and lease losses $ 16,288 $ 69,896 $ 2,168 $ 43,116 $ 5,524 $ 1,855 $ 14,105 $ 15,971 $ 1,485 $ 19,496 $ 189,904 Loans and leases: Loans and leases individually evaluated for impairment $ 3,094 $ 95,107 $ 427 $ 17,910 $ 1,755 $ 1,183 $ 22,986 $ 5,883 $ 784 $ 1,238 $ 150,367 Loans and leases collectively evaluated for impairment 617,258 8,179,441 320,594 2,351,048 729,023 313,649 2,672,999 2,517,223 219,289 1,218,583 19,139,107 Total loan and leases $ 620,352 $ 8,274,548 $ 321,021 $ 2,368,958 $ 730,778 $ 314,832 $ 2,695,985 $ 2,523,106 $ 220,073 $ 1,219,821 $ 19,289,474 December 31, 2014 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial Lease financing Other Residential mortgage Revolving mortgage Construction and land development - non-commercial Consumer Total Non-PCI Loans Allowance for loan and lease losses: ALLL for loans and leases individually evaluated for impairment $ 92 $ 8,610 $ 112 $ 1,743 $ 150 $ 1,972 $ 1,360 $ 1,052 $ 71 $ 555 $ 15,717 ALLL for loans and leases collectively evaluated for impairment $ 11,869 $ 76,579 $ 620 $ 28,984 $ 4,136 $ 1,212 $ 9,301 $ 17,598 $ 821 $ 16,000 $ 167,120 Total allowance for loan and lease losses $ 11,961 $ 85,189 $ 732 $ 30,727 $ 4,286 $ 3,184 $ 10,661 $ 18,650 $ 892 $ 16,555 $ 182,837 Loans and leases: Loans and leases individually evaluated for impairment $ 1,620 $ 82,803 $ 584 $ 11,040 $ 623 $ 2,000 $ 14,913 $ 3,675 $ 1,340 $ 995 $ 119,593 Loans and leases collectively evaluated for impairment 491,513 7,470,145 244,291 1,977,594 571,293 351,833 2,478,145 2,558,125 203,676 1,116,459 17,463,074 Total loan and leases $ 493,133 $ 7,552,948 $ 244,875 $ 1,988,634 $ 571,916 $ 353,833 $ 2,493,058 $ 2,561,800 $ 205,016 $ 1,117,454 $ 17,582,667 For the years ended December 31, 2015, 2014 and 2013 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial Residential mortgage Revolving mortgage Construction and land development - noncommercial Consumer and other Total PCI Loans Allowance for loan and lease losses: Balance at January 1, 2013 $ 31,186 $ 50,275 $ 11,234 $ 8,897 $ 19,837 $ 9,754 $ 8,287 $ 502 $ 139,972 Provision (credits) (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 Provision (credits) 1,284 (7,903 ) (1,385 ) (2,023 ) (5,576 ) 1,523 (395 ) (145 ) (14,620 ) Charge-offs (2,454 ) (11,868 ) 106 (2,012 ) (406 ) (483 ) (104 ) (50 ) (17,271 ) Recoveries — — — — — — — — — Balance at December 31, 2014 150 10,135 75 1,240 5,820 3,999 183 27 21,629 Provision (credits) 1,029 (1,426 ) 698 (470 ) 72 (2,720 ) (183 ) 727 (2,273 ) Charge-offs (97 ) (871 ) — (325 ) (494 ) (756 ) — (501 ) (3,044 ) Recoveries — — — — — — — — — Balance at December 31, 2015 $ 1,082 $ 7,838 $ 773 $ 445 $ 5,398 $ 523 $ — $ 253 $ 16,312 December 31, 2015 ALLL for loans and leases acquired with deteriorated credit quality $ 1,082 $ 7,838 $ 773 $ 445 $ 5,398 $ 523 $ — $ 253 $ 16,312 Loans and leases acquired with deteriorated credit quality 33,880 525,468 17,076 15,182 302,158 52,471 — 4,281 950,516 December 31, 2014 ALLL for loans and leases acquired with deteriorated credit quality 150 10,135 75 1,240 5,820 3,999 183 27 21,629 Loans and leases acquired with deteriorated credit quality 78,079 577,518 40,193 27,254 382,340 74,109 912 6,093 1,186,498 At December 31, 2015 and December 31, 2014 , $469.3 million and $285.6 million , respectively, in PCI loans experienced an adverse change in expected cash flows since the date of acquisition. The corresponding valuation reserve was $16.3 million and $21.6 million , respectively. The following tables provide information on non-PCI 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. December 31, 2015 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Construction and land development - commercial $ 1,623 $ 1,471 $ 3,094 $ 4,428 $ 123 Commercial mortgage 41,793 53,314 95,107 103,763 3,370 Other commercial real estate 305 122 427 863 289 Commercial and industrial 8,544 9,366 17,910 21,455 1,118 Lease financing 1,651 104 1,755 1,956 213 Other — 1,183 1,183 1,260 — Residential mortgage 10,097 12,889 22,986 25,043 1,212 Revolving mortgage 1,105 4,778 5,883 7,120 299 Construction and land development - noncommercial 693 91 784 784 49 Consumer 1,050 188 1,238 1,294 527 Total non-PCI impaired loans and leases $ 66,861 $ 83,506 $ 150,367 $ 167,966 $ 7,200 December 31, 2014 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Construction and land development - commercial $ 996 $ 624 $ 1,620 $ 6,945 $ 92 Commercial mortgage 57,324 25,479 82,803 87,702 8,610 Other commercial real estate 112 472 584 913 112 Commercial and industrial 10,319 721 11,040 12,197 1,743 Lease financing 319 304 623 623 150 Other 2,000 — 2,000 2,000 1,972 Residential mortgage 10,198 4,715 14,913 15,746 1,360 Revolving mortgage 3,675 — 3,675 4,933 1,052 Construction and land development - noncommercial 1,077 263 1,340 1,340 71 Consumer 987 8 995 1,067 555 Total non-PCI impaired loans and leases $ 87,007 $ 32,586 $ 119,593 $ 133,466 $ 15,717 The following tables show the average non-PCI impaired loan balance and the interest income recognized by loan class for the years ended December 31, 2015 , 2014 and 2013 : Year ended December 31, 2015 (Dollars in thousands) YTD Average Balance YTD Interest Income Recognized Non-PCI impaired loans and leases: Construction and land development - commercial $ 3,164 $ 146 Commercial mortgage 89,934 3,129 Other commercial real estate 481 12 Commercial and industrial 14,587 510 Lease financing 1,718 74 Other 1,673 37 Residential mortgage 18,524 557 Revolving mortgage 4,368 97 Construction and land development - noncommercial 829 38 Consumer 1,126 75 Total non-PCI impaired loans and leases $ 136,404 $ 4,675 Year ended December 31, 2014 Non-PCI impaired loans and leases: Construction and land development - commercial $ 1,689 $ 83 Commercial mortgage 86,250 3,698 Other commercial real estate 2,125 80 Commercial and industrial 13,433 580 Lease financing 774 44 Other 528 29 Residential mortgage 15,487 593 Revolving mortgage 3,922 134 Construction and land development - noncommercial 1,678 98 Consumer 1,535 88 Total non-PCI impaired loans and leases $ 127,421 $ 5,427 Year ended December 31, 2013 Non-PCI 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 non-PCI impaired loans and leases $ 151,330 $ 7,817 Troubled Debt Restructurings BancShares accounts for certain loan modifications or restructurings as 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 , excluding pooled loans, are not initially considered to be TDRs, but can be classified as such if a modification is made subsequent to acquisition. Subsequent modification of a PCI loan accounted for in a pool that would otherwise meet the definition of a TDR is not reported, or accounted for, as a TDR since pooled PCI loans are excluded from the scope of TDR accounting. The following table provides a summary of total TDRs by accrual status. December 31, 2015 December 31, 2014 (Dollars in thousands) Accruing Nonaccruing Total Accruing Nonaccruing Total Commercial loans Construction and land development - commercial $ 3,624 $ 257 $ 3,881 $ 2,591 $ 446 $ 3,037 Commercial mortgage 65,812 18,728 84,540 92,184 8,937 101,121 Other commercial real estate 1,751 89 1,840 2,374 449 2,823 Commercial and industrial 8,833 3,341 12,174 9,864 664 10,528 Lease 1,191 169 1,360 258 365 623 Other 1,183 — 1,183 34 — 34 Total commercial loans 82,394 22,584 104,978 107,305 10,861 118,166 Noncommercial Residential 25,427 7,129 32,556 22,597 4,655 27,252 Revolving mortgage 3,600 1,705 5,305 3,675 — 3,675 Construction and land development - noncommercial 784 — 784 1,391 — 1,391 Consumer and other 1,091 129 1,220 995 — 995 Total noncommercial loans 30,902 8,963 39,865 28,658 4,655 33,313 Total loans $ 113,296 $ 31,547 $ 144,843 $ 135,963 $ 15,516 $ 151,479 Total troubled debt restructurings at December 31, 2015 , were $144.8 million , of which $30.6 million were PCI and $114.2 million were non-PCI. TDRs at December 31, 2014 , were $151.5 million , which consisted of $46.9 million PCI and $104.6 million non-PCI. The majority of TDRs are included in the special mention, substandard or doubtful grading categories, which results in more elevated loss expectations when projecting 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 or analysis of cash flows. The following tables provide the types of TDRs made during the year ended December 31, 2015 , and 2014 , as well as a summary of loans that were modified as a TDR during the year ended December 31, 2015 , and 2014 that subsequently defaulted during the year ended December 31, 2015 , and 2014 . BancShares defines payment default as movement of the TDR to nonaccrual status, which is generally 90 days past due for TDRs, foreclosure or charge-off, whichever occurs first. Year ended December 31, 2015 Year ended December 31, 2014 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) Non-PCI loans and leases Interest only period provided Commercial mortgage 3 $ 185 — $ — 6 $ 1,973 2 $ 364 Commercial and industrial 2 776 — — 3 250 — — Lease financing — — — — 2 118 — — Construction and land development - noncommercial 1 91 — — — — — — Other — — — — 1 34 — — Total interest only 6 1,052 — — 12 2,375 2 364 Loan term extension Construction and land development - commercial 1 18 1 18 2 187 — — Commercial mortgage 12 3,144 2 316 18 4,848 — — Commercial and industrial 5 1,380 — — 5 2,274 — — Lease financing 4 146 — — 6 198 — — Residential mortgage 1 110 — — 19 572 — — Revolving mortgage 1 8 — — — — — — Construction and land development - noncommercial — — — — 7 226 — — Consumer 3 52 — 6 99 1 — Total loan term extension 27 4,858 3 334 63 8,404 1 — Below market interest rate Construction and land development - commercial 21 992 3 122 11 372 — — Commercial mortgage 37 13,900 3 3,969 44 12,642 3 441 Commercial and industrial 15 2,301 2 1,619 13 751 — — Other commercial real estate 2 122 — — 1 337 — — Residential mortgage 116 5,695 14 607 41 2,444 1 45 Revolving mortgage 6 136 — — 5 217 — — Construction & land development - noncommercial 2 253 — — 12 389 — — Consumer 18 146 2 10 10 193 — — Other 1 1,183 — — — — — — Total below market interest rate 218 24,728 24 6,327 137 17,345 4 486 Discharged from bankruptcy Construction and land development - commercial 4 38 1 3 — — — — Commercial mortgage 4 1,897 2 644 2 949 1 — Commercial and industrial 3 146 — — — — — — Residential mortgage 29 1,454 4 242 12 1,067 2 268 Revolving mortgage 56 2,714 9 701 17 663 1 — Construction & land development - noncommercial — — — — 1 62 1 62 Consumer 25 296 7 75 4 4 — — Total discharged from bankruptcy 121 6,545 23 1,665 36 2,745 5 330 Total non-PCI restructurings 372 $ 37,183 50 $ 8,326 248 $ 30,869 12 $ 1,180 Year ended December 31, 2015 Year ended December 31, 2014 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) PCI loans Interest only period provided Commercial mortgage — $ — — $ — 2 $ — 2 $ — Total interest only — — — — 2 — 2 — Loan term extension Construction and land development - commercial — — — — 1 332 — — Residential mortgage 1 178 — — 2 317 5 53 Construction and land development - noncommercial — — — — 1 51 — — Total loan term extension 1 178 — — 4 700 5 53 Below market interest rate Construction and land development - commercial — — — — 2 116 — — Commercial mortgage — — — — 16 5,783 3 138 Residential mortgage 14 1,187 2 96 29 3,948 3 23 Total below market interest rate 14 1,187 2 96 47 9,847 6 161 Discharged from bankruptcy Residential mortgage 2 282 — — 26 1,659 2 — Revolving mortgage 1 105 — — — — — — Total discharged from bankruptcy 3 387 — — 26 1,659 2 — Total PCI restructurings 18 $ 1,752 2 $ 96 79 $ 12,206 15 $ 214 |
Troubled Debt Restructuring, Summary of Accrual Status [Table Text Block] | Subsequent modification of a PCI loan accounted for in a pool that would otherwise meet the definition of a TDR is not reported, or accounted for, as a TDR since pooled PCI loans are excluded from the scope of TDR accounting. The following table provides a summary of total TDRs by accrual status. December 31, 2015 December 31, 2014 (Dollars in thousands) Accruing Nonaccruing Total Accruing Nonaccruing Total Commercial loans Construction and land development - commercial $ 3,624 $ 257 $ 3,881 $ 2,591 $ 446 $ 3,037 Commercial mortgage 65,812 18,728 84,540 92,184 8,937 101,121 Other commercial real estate 1,751 89 1,840 2,374 449 2,823 Commercial and industrial 8,833 3,341 12,174 9,864 664 10,528 Lease 1,191 169 1,360 258 365 623 Other 1,183 — 1,183 34 — 34 Total commercial loans 82,394 22,584 104,978 107,305 10,861 118,166 Noncommercial Residential 25,427 7,129 32,556 22,597 4,655 27,252 Revolving mortgage 3,600 1,705 5,305 3,675 — 3,675 Construction and land development - noncommercial 784 — 784 1,391 — 1,391 Consumer and other 1,091 129 1,220 995 — 995 Total noncommercial loans 30,902 8,963 39,865 28,658 4,655 33,313 Total loans $ 113,296 $ 31,547 $ 144,843 $ 135,963 $ 15,516 $ 151,479 |
Troubled Debt Restructurings on Financing Receivables | The following tables provide the types of TDRs made during the year ended December 31, 2015 , and 2014 , as well as a summary of loans that were modified as a TDR during the year ended December 31, 2015 , and 2014 that subsequently defaulted during the year ended December 31, 2015 , and 2014 . BancShares defines payment default as movement of the TDR to nonaccrual status, which is generally 90 days past due for TDRs, foreclosure or charge-off, whichever occurs first. Year ended December 31, 2015 Year ended December 31, 2014 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) Non-PCI loans and leases Interest only period provided Commercial mortgage 3 $ 185 — $ — 6 $ 1,973 2 $ 364 Commercial and industrial 2 776 — — 3 250 — — Lease financing — — — — 2 118 — — Construction and land development - noncommercial 1 91 — — — — — — Other — — — — 1 34 — — Total interest only 6 1,052 — — 12 2,375 2 364 Loan term extension Construction and land development - commercial 1 18 1 18 2 187 — — Commercial mortgage 12 3,144 2 316 18 4,848 — — Commercial and industrial 5 1,380 — — 5 2,274 — — Lease financing 4 146 — — 6 198 — — Residential mortgage 1 110 — — 19 572 — — Revolving mortgage 1 8 — — — — — — Construction and land development - noncommercial — — — — 7 226 — — Consumer 3 52 — 6 99 1 — Total loan term extension 27 4,858 3 334 63 8,404 1 — Below market interest rate Construction and land development - commercial 21 992 3 122 11 372 — — Commercial mortgage 37 13,900 3 3,969 44 12,642 3 441 Commercial and industrial 15 2,301 2 1,619 13 751 — — Other commercial real estate 2 122 — — 1 337 — — Residential mortgage 116 5,695 14 607 41 2,444 1 45 Revolving mortgage 6 136 — — 5 217 — — Construction & land development - noncommercial 2 253 — — 12 389 — — Consumer 18 146 2 10 10 193 — — Other 1 1,183 — — — — — — Total below market interest rate 218 24,728 24 6,327 137 17,345 4 486 Discharged from bankruptcy Construction and land development - commercial 4 38 1 3 — — — — Commercial mortgage 4 1,897 2 644 2 949 1 — Commercial and industrial 3 146 — — — — — — Residential mortgage 29 1,454 4 242 12 1,067 2 268 Revolving mortgage 56 2,714 9 701 17 663 1 — Construction & land development - noncommercial — — — — 1 62 1 62 Consumer 25 296 7 75 4 4 — — Total discharged from bankruptcy 121 6,545 23 1,665 36 2,745 5 330 Total non-PCI restructurings 372 $ 37,183 50 $ 8,326 248 $ 30,869 12 $ 1,180 Year ended December 31, 2015 Year ended December 31, 2014 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) PCI loans Interest only period provided Commercial mortgage — $ — — $ — 2 $ — 2 $ — Total interest only — — — — 2 — 2 — Loan term extension Construction and land development - commercial — — — — 1 332 — — Residential mortgage 1 178 — — 2 317 5 53 Construction and land development - noncommercial — — — — 1 51 — — Total loan term extension 1 178 — — 4 700 5 53 Below market interest rate Construction and land development - commercial — — — — 2 116 — — Commercial mortgage — — — — 16 5,783 3 138 Residential mortgage 14 1,187 2 96 29 3,948 3 23 Total below market interest rate 14 1,187 2 96 47 9,847 6 161 Discharged from bankruptcy Residential mortgage 2 282 — — 26 1,659 2 — Revolving mortgage 1 105 — — — — — — Total discharged from bankruptcy 3 387 — — 26 1,659 2 — Total PCI restructurings 18 $ 1,752 2 $ 96 79 $ 12,206 15 $ 214 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | Major classifications of premises and equipment at December 31, 2015 and 2014 are summarized as follows: (Dollars in thousands) 2015 2014 Land $ 279,932 $ 284,682 Premises and leasehold improvements 1,089,644 1,056,126 Furniture and equipment 441,378 444,774 Total 1,810,954 1,785,582 Less accumulated depreciation and amortization 675,125 660,501 Total premises and equipment $ 1,135,829 $ 1,125,081 |
Future Minimum Rental Payments for Operating Leases | 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, 2015 : (Dollars in thousands) Year ended December 31 2016 $ 18,543 2017 14,415 2018 11,017 2019 8,040 2020 5,589 Thereafter 43,407 Total minimum payments $ 101,011 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Changes in Other Real Estate Owned | The following table explains changes in other real estate owned during 2015 and 2014 . (Dollars in thousands) Covered Noncovered Total Balance at January 1, 2014 $ 47,081 $ 36,898 $ 83,979 Additions 29,708 36,574 66,282 Additions acquired in the Bancorporation merger 1,336 34,008 35,344 Additions acquired in the 1st Financial merger — 11,591 11,591 Sales (38,753 ) (48,935 ) (87,688 ) Writedowns (10,853 ) (5,219 ) (16,072 ) Transfers (1) (5,537 ) 5,537 — Balance at December 31, 2014 22,982 70,454 93,436 Additions 7,357 47,866 55,223 Sales (19,629 ) (56,853 ) (76,482 ) Writedowns (1,478 ) (5,140 ) (6,618 ) Transfers (1) (2,415 ) 2,415 — Balance at December 31, 2015 $ 6,817 $ 58,742 $ 65,559 (1) Transfers include OREO balances associated with expired loss share agreements. At December 31, 2015 and December 31, 2014 , BancShares had $16.1 million and $29.0 million , respectively, of foreclosed residential real estate property in OREO. The recorded investment in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure totaled $15.6 million and $24.8 million at December 31, 2015 and December 31, 2014 , respectively. |
Receivable from FDIC for Loss40
Receivable from FDIC for Loss Share Agreements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
FDIC Loss Share Receivable [Abstract] | |
Changes in Receivable From FDIC | The following table provides changes in the receivable from the FDIC for the years ended December 31, 2015, 2014 and 2013: Year ended December 31 (Dollars in thousands) 2015 2014 2013 Balance at January 1 $ 28,701 $ 93,397 $ 270,192 Additional receivable from Bancorporation merger — 5,106 — Amortization (10,899 ) (43,422 ) (85,651 ) Net cash payments to (from) the FDIC 33,296 1,286 (19,373 ) Post-acquisition adjustments (47,044 ) (27,666 ) (71,771 ) Balance at December 31 $ 4,054 $ 28,701 $ 93,397 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Deposits [Abstract] | |
Deposits | Deposits at December 31 are summarized as follows: (Dollars in thousands) 2015 2014 Demand $ 9,274,470 $ 8,086,784 Checking with interest 4,445,353 4,091,333 Money market accounts 8,205,705 8,264,811 Savings 1,909,021 1,728,504 Time 3,096,206 3,507,145 Total deposits $ 26,930,755 $ 25,678,577 |
Maturities Of Time Deposits | At December 31, 2015 , the scheduled maturities of time deposits were: (Dollars in thousands) Year ended December 31 2016 $ 2,359,710 2017 453,560 2018 114,448 2019 111,857 2020 56,631 Thereafter — Total time deposits $ 3,096,206 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Short-term Debt [Abstract] | |
Schedule of Short-term Debt | Short-term borrowings at December 31 are as follows: (Dollars in thousands) 2015 2014 Master notes $ — $ 410,258 Repurchase agreements 592,182 294,426 Notes payable to Federal Home Loan Banks — 80,000 Federal funds purchased 2,551 2,551 Subordinated notes payable — 199,949 Total short-term borrowings $ 594,733 $ 987,184 |
Repurchase Agreements (Tables)
Repurchase Agreements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Repurchase Agreements [Abstract] | |
Schedule of Repurchase Agreements [Table Text Block] | The remaining contractual maturity of the securities sold under agreements to repurchase by class of collateral pledged included in short-term borrowings in the Consolidated Balance Sheets as of December 31, 2015 and December 31, 2014 is presented in the following tables. December 31, 2015 Remaining Contractual Maturity of the Agreements (Dollars in thousands) Overnight and continuous Up to 30 Days 30-90 Days Greater than 90 Days Total Repurchase agreements: U.S. Treasury $ 592,182 $ — $ — $ 25,724 $ 617,906 Government agency — — — 4,276 4,276 Total borrowings $ 592,182 $ — $ — $ 30,000 $ 622,182 Gross amount of recognized liabilities for repurchase agreements $ 622,182 December 31, 2014 Remaining Contractual Maturity of the Agreements Overnight and continuous Up to 30 Days 30-90 Days Greater than 90 Days Total Repurchase agreements: U.S. Treasury $ 162,925 $ — $ — $ 23,086 $ 186,011 Government agency — — — 6,914 6,914 Mortgage-backed securities 131,501 — — — 131,501 Total borrowings $ 294,426 $ — $ — $ 30,000 $ 324,426 Gross amount of recognized liabilities for repurchase agreements $ 324,426 |
Long-Term Obligations (Tables)
Long-Term Obligations (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Long-term Obligations [Abstract] | |
Schedule of Long-term Debt Instruments | Long-term obligations at December 31 include: (Dollars in thousands) 2015 2014 Junior subordinated debenture at 3-month LIBOR plus 1.75 percent maturing June 30, 2036 $ 96,392 $ 96,392 Junior subordinated debenture at 3-month LIBOR plus 2.25 percent maturing June 15, 2034 25,774 26,547 Junior subordinated debenture at 3-month LIBOR plus 2.85 percent maturing April 7, 2034 10,310 10,310 Subordinated notes payable 8.00 percent June 1, 2018 15,000 15,000 Obligations under capitalized leases extending to July 2026 9,226 3,150 Notes payable to Federal Home Loan Bank of Atlanta with rates ranging from 2.00 percent to 3.58 percent and maturing through March 2024 510,252 160,268 Note payable to the Federal Home Loan Bank of Des Moines (1) with a rate of 4.74 percent and a maturity date of July 2017 10,000 10,000 Unamortized purchase accounting adjustments (2,907 ) (466 ) Other long-term debt 30,108 30,119 Total long-term obligations $ 704,155 $ 351,320 |
Schedule of Maturities of Long-term Debt | Long-term obligations maturing in each of the five years subsequent to December 31, 2015 and thereafter, include: Year ended December 31 2016 $ 3,401 2017 13,440 2018 135,232 2019 246 2020 261 Thereafter 551,575 Total long-term obligations $ 704,155 |
Estimated Fair Values (Tables)
Estimated Fair Values (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015 and December 31, 2014 . 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. Cash and due from banks is classified on the fair value hierarchy as level 1. Overnight investments, income earned not collected, short-term borrowings and accrued interest payable are considered level 2. Lastly, the receivable from the FDIC for loss share agreements is designated as level 3. December 31, 2015 December 31, 2014 (Dollars in thousands) Carrying value Fair value Carrying value Fair value Cash and due from banks $ 534,086 $ 534,086 $ 604,182 $ 604,182 Overnight investments 2,063,132 2,063,132 1,724,919 1,724,919 Investment securities available for sale 6,861,293 6,861,293 7,171,917 7,171,917 Investment securities held to maturity 255 265 518 544 Loans held for sale 59,766 59,766 63,696 63,696 Net loans and leases 20,033,774 19,353,325 18,564,999 18,046,497 Receivable from the FDIC for loss share agreements (1) 4,054 4,054 28,701 18,218 Income earned not collected 70,036 70,036 57,254 57,254 Federal Home Loan Bank stock 37,511 37,511 39,113 39,113 Mortgage servicing rights 19,351 19,495 16,688 16,736 Deposits 26,930,755 26,164,472 25,678,577 25,164,683 Short-term borrowings 594,733 594,733 987,184 987,184 Long-term obligations 704,155 718,102 351,320 367,732 Payable to the FDIC for loss share agreements 126,453 131,894 116,535 122,168 Accrued interest payable 5,713 5,713 8,194 8,194 Interest rate swap 1,429 1,429 4,337 4,337 (1) At December 31, 2015, the carrying value of the FDIC receivable approximates the fair value due to the short-term nature of the majority of loss share agreements. At December 31, 2014, the fair value of the FDIC receivable is estimated based on discounted future cash flows using current discount rates and excludes receivable related to accretable yield to be amortized in prospective periods. |
Assets And Liabilities Carried At Fair Value On A Recurring Basis | Among BancShares’ assets and liabilities, investment securities available for sale, loans held for sale and interest ra |
Fair Value Option | The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for residential real estate loans held for sale measured at fair value as of December 31, 2015 and 2014 . December 31, 2015 (Dollars in thousands) Fair Value Aggregate Unpaid Principal Balance Difference Loans held for sale $ 59,766 $ 58,890 $ 876 December 31, 2014 Fair Value Aggregate Unpaid Principal Balance Difference Loans held for sale $ 63,696 $ 62,996 $ 700 No loans held for sale were 90 or more days past due or on nonaccrual status as of December 31, 2015 and 2014 . The changes in fair value for residential real estate loans held for sale for which we elected the fair value option are included in the table below for the years ended December 31, 2015 and 2014 . Year ended December 31 (Dollars in thousands) 2015 2014 Gains (losses) from fair value changes on loans held for sale $ 176 $ 202 |
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, 2015 and December 31, 2014 . December 31, 2015 Fair value measurements using: (Dollars in thousands) Fair value Level 1 Level 2 Level 3 Impaired loans 64,197 — — 64,197 Other real estate not covered under loss share agreements remeasured during current year 44,571 — — 44,571 Other real estate covered under loss share agreements remeasured during current year 4,403 — — 4,403 Mortgage servicing rights 17,997 — — 17,997 December 31, 2014 Fair value measurements using: Fair value Level 1 Level 2 Level 3 Impaired loans 73,170 — — 73,170 Other real estate not covered under loss share agreements remeasured during current year 40,714 — — 40,714 Other real estate covered under loss share agreements remeasured during current year 17,664 — — 17,664 Mortgage servicing rights 13,562 — — 13,562 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Amount Included in Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive (loss) income included the following at December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 (Dollars in thousands) Accumulated other comprehensive loss Deferred tax benefit Accumulated other comprehensive loss, net of tax Accumulated other comprehensive income (loss) Deferred tax expense (benefit) Accumulated other comprehensive income (loss), net of tax Unrealized (losses) gains on investment securities available for sale $ (24,504 ) $ (9,379 ) $ (15,125 ) $ 8,343 $ 3,245 $ 5,098 Unrealized loss on cash flow hedge (1,429 ) (537 ) (892 ) (4,337 ) (1,673 ) (2,664 ) Funded status of defined benefit plan (78,419 ) (29,996 ) (48,423 ) (90,696 ) (35,281 ) (55,415 ) Total $ (104,352 ) $ (39,912 ) $ (64,440 ) $ (86,690 ) $ (33,709 ) $ (52,981 ) The following table highlights changes in accumulated other comprehensive (loss) income by component for the years ended December 31, 2015 and 2014 : (Dollars in thousands) Unrealized gains (losses) on available-for-sale securities (1) Gains (losses) on cash flow hedges (1) Defined benefit pension items (1) Total Balance at January 1, 2014 $ (10,091 ) $ (4,434 ) $ (10,743 ) $ (25,268 ) Other comprehensive income (loss) before reclassifications 33,061 1,770 (47,946 ) (13,115 ) Amounts reclassified from accumulated other comprehensive (loss) income (17,872 ) — 3,274 (14,598 ) Net current period other comprehensive income (loss) 15,189 1,770 (44,672 ) (27,713 ) Balance at December 31, 2014 5,098 (2,664 ) (55,415 ) (52,981 ) Other comprehensive income (loss) before reclassifications (13,544 ) 1,772 394 (11,378 ) Amounts reclassified from accumulated other comprehensive (loss) income (6,679 ) — 6,598 (81 ) Net current period other comprehensive (loss) income (20,223 ) 1,772 6,992 (11,459 ) Balance at December 31, 2015 $ (15,125 ) $ (892 ) $ (48,423 ) $ (64,440 ) (1) All amounts are net of tax. Amounts in parentheses indicate debits. |
Schedule of Expected Benefit Payments | Cash Flows Following are estimated payments to pension plan participants in the indicated periods for e |
Deferred Benefit Plans Liability Rollforward | The following table provides the accrued liability as of December 31, 2015 and 2014 , and the changes in the accrued liability during the years then ended: (Dollars in thousands) 2015 2014 Present value of accrued liability as of January 1 $ 43,211 $ 23,960 Benefits acquired in the 1st Financial merger — 1,455 Benefits acquired in the Bancorporation merger — 17,333 Benefit expense and interest cost 1,386 2,682 Benefits paid (4,485 ) (2,219 ) Benefits forfeited (234 ) — Present value of accrued liability as of December 31 $ 39,878 $ 43,211 Discount rate at December 31 4.68 % 4.27 % |
BancShares Plan | |
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, 2015 and 2014 . (Dollars in thousands) 2015 2014 Change in benefit obligation Projected benefit obligation at January 1 $ 627,645 $ 530,678 Service cost 14,083 12,332 Interest cost 26,975 25,615 Actuarial (gain) loss (39,002 ) 76,122 Benefits paid (18,199 ) (17,102 ) Projected benefit obligation at December 31 611,502 627,645 Change in plan assets Fair value of plan assets at January 1 544,956 524,017 Actual return on plan assets (6,732 ) 38,041 Employer contributions 30,000 — Benefits paid (18,199 ) (17,102 ) Fair value of plan assets at December 31 550,025 544,956 Funded status at December 31 $ (61,477 ) $ (82,689 ) |
Schedule of Amounts Recognized in the Balance Sheets | The amounts recognized in the consolidated balance sheets at December 31, 2015 and 2014 consist of: (Dollars in thousands) 2015 2014 Other assets $ — $ — Other liabilities (61,477 ) (82,689 ) Net asset (liability) recognized $ (61,477 ) $ (82,689 ) |
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, 2015 and 2014 . (Dollars in thousands) 2015 2014 Net loss $ 70,358 $ 80,806 Less prior service cost 556 767 Accumulated other comprehensive loss, excluding income taxes $ 70,914 $ 81,573 |
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year | The following table provides expected amortization amounts for 2016 . (Dollars in thousands) Actuarial loss $ 6,398 Prior service cost 210 Total $ 6,608 |
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, 2015, 2014 and 2013 . Year ended December 31 (Dollars in thousands) 2015 2014 2013 Service cost $ 14,083 $ 12,332 $ 16,332 Interest cost 26,975 25,615 23,686 Expected return on assets (33,198 ) (31,269 ) (27,733 ) Amortization of prior service cost 210 210 210 Amortization of net actuarial loss 11,376 5,148 16,985 Total net periodic benefit cost 19,446 12,036 29,480 Current year actuarial loss (gain) 927 69,349 (123,557 ) Amortization of actuarial loss (11,376 ) (5,148 ) (16,985 ) Amortization of prior service cost (210 ) (210 ) (210 ) Total recognized in other comprehensive income (10,659 ) 63,991 (140,752 ) Total recognized in net periodic benefit cost and other comprehensive income $ 8,787 $ 76,027 $ (111,272 ) |
Schedule of Assumptions Used | The assumptions used to determine the benefit obligations at December 31, 2015 and 2014 are as follows: (Dollars in thousands) 2015 2014 Discount rate 4.68 % 4.27 % Rate of compensation increase 4.00 4.00 The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2015, 2014 and 2013 , are as follows: (Dollars in thousands) 2015 2014 2013 Discount rate 4.27 % 4.90 % 4.00 % Rate of compensation increase 4.00 4.00 4.00 Expected long-term return on plan assets 7.50 7.50 7.25 |
Schedule of Fair Value and Allocation of Plan Assets | The fair values of pension plan assets at December 31, 2015 and 2014 , by asset class are as follows: December 31, 2015 (Dollars in thousands) Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 26,613 $ 26,613 $ — $ — 0 - 1% 5 % Equity securities 55 - 65% 63 % Common and preferred stock 267,037 267,037 — — Mutual funds 78,645 78,645 — — Fixed income 25 - 40% 26 % U.S. government and government agency securities 58,526 48,957 9,569 — Corporate bonds 70,809 — 70,809 — Mutual funds 17,351 17,351 — — Alternative investments 0 - 10% 6 % Mutual funds 31,044 31,044 — — Total pension assets $ 550,025 $ 469,647 $ 80,378 $ — 100 % December 31, 2014 Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 3,854 $ 3,854 — — 0 - 1% 1 % Equity securities 55 - 65% 62 % Common and preferred stock 284,656 284,656 — — Mutual funds 52,379 52,379 — — Fixed income 25 - 40% 28 % Mutual funds 153,928 — 153,928 — Alternative investments 0 - 10% 9 % Mutual funds 50,139 50,139 — — Total pension assets $ 544,956 $ 391,028 $ 153,928 $ — 100 % |
Bancorporation Plan | |
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, 2015 and 2014 . (Dollars in thousands) 2015 2014 Change in benefit obligation Projected benefit obligation at January 1 $ 151,332 $ — Projected benefit obligation at October 1 acquisition date — 137,452 Service cost 3,341 832 Interest cost 6,393 1,488 Actuarial (gain) loss (10,937 ) 12,802 Benefits paid (4,812 ) (1,242 ) Curtailments (2,076 ) — Projected benefit obligation at December 31 143,241 151,332 Change in plan assets Fair value of plan assets at January 1 155,618 — Fair value of plan assets at October 1 acquisition date — 150,374 Actual return on plan assets 87 6,486 Benefits paid (4,812 ) (1,242 ) Fair value of plan assets at December 31 150,893 155,618 Funded status at December 31 $ 7,652 $ 4,286 |
Schedule of Amounts Recognized in the Balance Sheets | The amounts recognized in the consolidated balance sheets at December 31, 2015 and 2014 consist of: (Dollars in thousands) 2015 2014 Other assets $ — $ — Other liabilities 7,652 4,286 Net asset (liability) recognized $ 7,652 $ 4,286 |
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, 2015 and 2014 . (Dollars in thousands) 2015 2014 Net loss $ 7,505 $ 9,123 Less prior service cost — — Accumulated other comprehensive loss, excluding income taxes $ 7,505 $ 9,123 |
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, 2015 and 2014 . For 2014, the table only includes amounts after the October 1 acquisition of Bancorporation. Year ended December 31 (Dollars in thousands) 2015 2014 Service cost $ 3,341 $ 832 Interest cost 6,393 1,488 Expected return on assets (11,482 ) (2,807 ) Total net periodic benefit cost (1,748 ) (487 ) Current year actuarial loss 458 9,123 Curtailments (2,076 ) — Total recognized in other comprehensive income (1,618 ) 9,123 Total recognized in net periodic benefit cost and other comprehensive income $ (3,366 ) $ 8,636 |
Schedule of Assumptions Used | The assumptions used to determine the benefit obligations at December 31, 2015 and 2014 are as follows: (Dollars in thousands) 2015 2014 Discount rate 4.68 % 4.27 % Rate of compensation increase 4.00 4.00 The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2015 and 2014 are as follows: (Dollars in thousands) 2015 2014 Discount rate 4.27 % 4.35 % Rate of compensation increase 4.00 4.00 Expected long-term return on plan assets 7.50 7.50 |
Schedule of Fair Value and Allocation of Plan Assets | December 31, 2015 (Dollars in thousands) Market Value Quoted prices in Significant Significant Actual % Cash and equivalents $ 13,437 $ 13,437 — — 9 % Equity securities 63 % Common and preferred stock 80,676 80,676 — — Mutual funds 15,005 15,005 — — Fixed income 22 % U.S. government and government agency securities 20,476 3,986 16,490 — Corporate bonds 8,011 — 8,011 — Mutual funds 4,198 4,198 — — Alternative investments 6 % Mutual funds 9,090 9,090 — — Total pension assets $ 150,893 $ 126,392 $ 24,501 — December 31, 2014 Market Value Quoted prices in Significant Significant Actual % Cash and equivalents $ 13,077 $ 13,077 — — 8 % Equity securities 69 % Common and preferred stock 101,540 101,540 — — Mutual funds 5,793 5,793 — — Fixed income 23 % U.S. government and government agency securities 23,528 23,528 — — Corporate bonds 11,680 — 11,680 — Total pension assets $ 155,618 $ 143,938 $ 11,680 — |
Other Noninterest Income and 47
Other Noninterest Income and Other Noninterest Expense (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Noninterest Expense [Abstract] | |
Schedule of Other Operating Cost and Expense, by Component | (Dollars in thousands) 2015 2014 2013 Cardholder processing $ 21,735 $ 15,133 $ 13,780 Merchant processing 58,231 42,661 35,279 Collection 9,649 11,595 21,209 Processing fees paid to third parties 18,779 17,089 15,095 Cardholder reward programs 11,069 8,252 6,266 Telecommunications 14,406 10,834 10,033 Consultant 8,925 10,168 9,740 Core deposit intangible amortization 18,892 6,955 2,308 Advertising 12,431 11,461 8,286 Other 95,741 76,481 71,018 Total other noninterest expense $ 269,858 $ 210,629 $ 193,014 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | At December 31 , income tax expense consisted of the following: (Dollars in thousands) 2015 2014 2013 Current tax expense Federal $ 105,367 $ 84,430 $ 46,848 State 16,111 13,941 7,080 Total current tax expense 121,478 98,371 53,928 Deferred tax (benefit) expense Federal (2,758 ) (30,658 ) 38,731 State 3,308 (2,681 ) 8,915 Total deferred tax (benefit) expense 550 (33,339 ) 47,646 Total income tax expense $ 122,028 $ 65,032 $ 101,574 |
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: (Dollars in thousands) 2015 2014 2013 Income taxes at statutory rates $ 116,345 $ 71,258 $ 93,956 Increase (reduction) in income taxes resulting from: Nontaxable income on loans, leases and investments, net of nondeductible expenses (3,020 ) (1,832 ) (1,185 ) State and local income taxes, including change in valuation allowance, net of federal income tax benefit 12,622 7,319 10,397 Acquisition stock settlement — (10,185 ) — Tax credits net of amortization (3,060 ) (2,896 ) (960 ) Other, net (859 ) 1,368 (634 ) Total income tax expense $ 122,028 $ 65,032 $ 101,574 |
Schedule of Deferred Tax Assets and Liabilities | The net deferred tax asset included the following components at December 31 : (Dollars in thousands) 2015 2014 Allowance for loan and lease losses $ 78,878 $ 79,537 Pension liability 7,206 17,147 Executive separation from service agreements 9,856 13,753 State operating loss carryforward 21 29 Unrealized loss on cash flow hedge 537 1,673 Net unrealized loss on securities included in accumulated other comprehensive loss 9,379 — Accelerated depreciation 13,195 3,495 FDIC assisted transactions timing differences 66,456 77,388 Other reserves 10,772 12,770 Other 29,279 26,788 Deferred tax asset 225,579 232,580 Lease financing activities 15,492 12,706 Net unrealized gain on securities included in accumulated other comprehensive loss — 3,245 Net deferred loan fees and costs 6,051 4,532 Intangible assets 2,040 7,789 Security, loan and debt valuations 31,486 40,910 Other 12,026 13,287 Deferred tax liability 67,095 82,469 Net deferred tax asset $ 158,484 $ 150,111 |
Transactions with Related Per49
Transactions with Related Persons (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions | For those identified as Related Persons as of December 31, 2015 , the following table provides an analysis of changes in the loans outstanding during 2015 and 2014 : Year ended December 31 (dollars in thousands) 2015 2014 Balance at January 1 $ 1,045 1,825 New loans 5 39 Repayments (971 ) (819 ) Balance at December 31 $ 79 1,045 |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Derivative [Line Items] | |
Schedule Of Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive (loss) income included the following at December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 (Dollars in thousands) Accumulated other comprehensive loss Deferred tax benefit Accumulated other comprehensive loss, net of tax Accumulated other comprehensive income (loss) Deferred tax expense (benefit) Accumulated other comprehensive income (loss), net of tax Unrealized (losses) gains on investment securities available for sale $ (24,504 ) $ (9,379 ) $ (15,125 ) $ 8,343 $ 3,245 $ 5,098 Unrealized loss on cash flow hedge (1,429 ) (537 ) (892 ) (4,337 ) (1,673 ) (2,664 ) Funded status of defined benefit plan (78,419 ) (29,996 ) (48,423 ) (90,696 ) (35,281 ) (55,415 ) Total $ (104,352 ) $ (39,912 ) $ (64,440 ) $ (86,690 ) $ (33,709 ) $ (52,981 ) The following table highlights changes in accumulated other comprehensive (loss) income by component for the years ended December 31, 2015 and 2014 : (Dollars in thousands) Unrealized gains (losses) on available-for-sale securities (1) Gains (losses) on cash flow hedges (1) Defined benefit pension items (1) Total Balance at January 1, 2014 $ (10,091 ) $ (4,434 ) $ (10,743 ) $ (25,268 ) Other comprehensive income (loss) before reclassifications 33,061 1,770 (47,946 ) (13,115 ) Amounts reclassified from accumulated other comprehensive (loss) income (17,872 ) — 3,274 (14,598 ) Net current period other comprehensive income (loss) 15,189 1,770 (44,672 ) (27,713 ) Balance at December 31, 2014 5,098 (2,664 ) (55,415 ) (52,981 ) Other comprehensive income (loss) before reclassifications (13,544 ) 1,772 394 (11,378 ) Amounts reclassified from accumulated other comprehensive (loss) income (6,679 ) — 6,598 (81 ) Net current period other comprehensive (loss) income (20,223 ) 1,772 6,992 (11,459 ) Balance at December 31, 2015 $ (15,125 ) $ (892 ) $ (48,423 ) $ (64,440 ) (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, 2015 and 2014 . December 31, 2015 December 31, 2014 (Dollars in thousands) Notional amount Estimated fair value of liability Notional amount Estimated fair value of liability 2011 interest rate swap hedging variable rate exposure on trust preferred securities 2011-2016 $ 93,500 $ 1,429 $ 93,500 $ 4,337 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill [Line Items] | |
Changes in Goodwill | The following table presents the changes in the carrying amount of goodwill. (Dollars in thousands) 2015 2014 Balance at January 1 $ 139,773 $ 102,625 Acquired in the 1st Financial merger — 32,915 Acquired in the Bancorporation merger — 4,233 Balance at December 31 $ 139,773 $ 139,773 |
Mortgage Servicing Rights Key Economic Assumptions Used to Value | Key economic assumptions used to value mortgage servicing rights as of December 31, 2015 and 2014 were as follows: 2015 2014 Discount rate - conventional fixed loans 9.31 % 7.20 % Discount rate - all loans excluding conventional fixed loans 10.31 % 9.20 % Weighted average constant prepayment rate 11.01 % 14.25 % Weighted average cost to service a loan $ 56.61 $ 56.02 |
Schedule of Mortgage Servicing Rights at Amortized Cost | The activity of the servicing asset for the years ended December 31, 2015 and 2014 is presented in the following table: (Dollars in thousands) 2015 2014 Balance at January 1 $ 16,688 $ 16 Servicing rights originated 5,910 727 Amortization (4,002 ) (919 ) Servicing rights acquired in the 1st Financial merger — 148 Servicing rights acquired in the Bancorporation merger — 17,566 Valuation allowance reversal (provision) 755 (850 ) Balance at December 31 $ 19,351 $ 16,688 |
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block] | The following table presents the activity in the servicing asset valuation allowance for the years ended December 31, 2015 and 2014 : (Dollars in thousands) 2015 2014 Balance at January 1 $ 850 $ — Valuation allowance (reversal) provision (755 ) 850 Balance at December 31 $ 95 $ 850 |
Schedule of Other Intangible Assets | The following information relates to other intangible assets, all customer-related, which are being amortized over their estimated useful lives: (dollars in thousands) 2015 2014 Balance at January 1 $ 89,922 $ 1,247 Acquired in CCBT merger 690 — Acquired in the 1st Financial merger — 3,780 Acquired in the Bancorporation merger — 91,850 Removal due to branch sale (85 ) — Amortization (18,892 ) (6,955 ) Balance at December 31 $ 71,635 $ 89,922 Core deposit intangibles comprise the majority of the other intangible assets as of December 31, 2015 and 2014 . During 2015, BancShares recognized $690 thousand in core deposit intangibles related to the CCBT merger. Core deposit intangibles of $85 thousand were written off in 2015 as it related to previously acquired deposits that were sold in connection with the sale of a branch in December 2015. During 2014, BancShares recognized $91.9 million and $3.8 million in core deposit intangibles related to the Bancorporation and 1st Financial mergers, respectively. Intangible assets generated by acquisitions, which represent the estimated fair value of core deposits and other customer relationships that were acquired, are being amortized on an accelerated basis over their estimated useful lives. The estimated useful remaining lives range from 2 years to less than 9 years. The gross amount of other intangible assets and accumulated amortization as of December 31, 2015 and 2014 , are: (dollars in thousands) 2015 2014 Gross balance $ 115,201 $ 114,596 Accumulated amortization (43,566 ) (24,674 ) Carrying value $ 71,635 $ 89,922 |
Future Amortization Expense Schedule | Based on current estimated useful lives and carrying values, BancShares anticipates amortization expense for intangible assets in subsequent periods will be: (dollars in thousands) 2016 $ 16,440 2017 14,075 2018 11,710 2019 9,457 2020 7,492 |
Shareholders' Equity, Dividen52
Shareholders' Equity, Dividends Restrictions and Other Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015 and 2014 : December 31, 2015 December 31, 2014 (Dollars in thousands) Amount (1) Ratio (1) Requirements to be well-capitalized (2) Amount Ratio Requirements to be well-capitalized BancShares Tier 1 risk-based capital $ 2,831,242 12.65 % 8.00 % $ 2,690,324 13.61 % 6.00 % Common equity Tier 1 (3) 2,799,163 12.51 6.50 N/A N/A N/A Total risk-based capital 3,140,212 14.03 10.00 2,904,123 14.69 10.00 Leverage capital 2,831,242 8.96 5.00 2,690,324 8.91 5.00 FCB Tier 1 risk-based capital 2,821,475 12.64 8.00 2,019,595 13.12 6.00 Common equity Tier 1 (3) 2,821,475 12.64 6.50 N/A N/A N/A Total risk-based capital 3,038,070 13.61 10.00 2,212,163 14.37 10.00 Leverage capital 2,821,475 8.95 5.00 2,019,595 9.30 5.00 FCB-SC (4) Tier 1 risk-based capital N/A N/A N/A 653,515 15.11 6.00 Total risk-based capital N/A N/A N/A 657,475 15.20 10.00 Leverage capital N/A N/A N/A 653,515 7.89 5.00 |
Accumulated Other Comprehensi53
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive (loss) income included the following at December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 (Dollars in thousands) Accumulated other comprehensive loss Deferred tax benefit Accumulated other comprehensive loss, net of tax Accumulated other comprehensive income (loss) Deferred tax expense (benefit) Accumulated other comprehensive income (loss), net of tax Unrealized (losses) gains on investment securities available for sale $ (24,504 ) $ (9,379 ) $ (15,125 ) $ 8,343 $ 3,245 $ 5,098 Unrealized loss on cash flow hedge (1,429 ) (537 ) (892 ) (4,337 ) (1,673 ) (2,664 ) Funded status of defined benefit plan (78,419 ) (29,996 ) (48,423 ) (90,696 ) (35,281 ) (55,415 ) Total $ (104,352 ) $ (39,912 ) $ (64,440 ) $ (86,690 ) $ (33,709 ) $ (52,981 ) The following table highlights changes in accumulated other comprehensive (loss) income by component for the years ended December 31, 2015 and 2014 : (Dollars in thousands) Unrealized gains (losses) on available-for-sale securities (1) Gains (losses) on cash flow hedges (1) Defined benefit pension items (1) Total Balance at January 1, 2014 $ (10,091 ) $ (4,434 ) $ (10,743 ) $ (25,268 ) Other comprehensive income (loss) before reclassifications 33,061 1,770 (47,946 ) (13,115 ) Amounts reclassified from accumulated other comprehensive (loss) income (17,872 ) — 3,274 (14,598 ) Net current period other comprehensive income (loss) 15,189 1,770 (44,672 ) (27,713 ) Balance at December 31, 2014 5,098 (2,664 ) (55,415 ) (52,981 ) Other comprehensive income (loss) before reclassifications (13,544 ) 1,772 394 (11,378 ) Amounts reclassified from accumulated other comprehensive (loss) income (6,679 ) — 6,598 (81 ) Net current period other comprehensive (loss) income (20,223 ) 1,772 6,992 (11,459 ) Balance at December 31, 2015 $ (15,125 ) $ (892 ) $ (48,423 ) $ (64,440 ) (1) All amounts are net of tax. Amounts in parentheses indicate debits. |
Reclassification out of Accumulated Other Comprehensive Income | (Dollars in thousands) Year ended December 31, 2015 Details about accumulated other comprehensive income (loss) Amount reclassified from accumulated other comprehensive income (loss) (1) Affected line item in the statement where net income is presented Unrealized gains and losses on available for sale securities $ 10,817 Securities gains (4,138 ) Income taxes $ 6,679 Net income Amortization of defined benefit pension items Prior service costs $ (210 ) Employee benefits Actuarial losses (11,376 ) Employee benefits (11,586 ) Employee benefits 4,988 Income taxes $ (6,598 ) Net income Total reclassifications for the period $ 81 Year ended December 31, 2014 Details about accumulated other comprehensive income (loss) Amount reclassified from accumulated other comprehensive income (loss) (1) Affected line item in the statement where net income is presented Unrealized gains and losses on available for sale securities $ 29,096 Securities gains (11,224 ) Income taxes $ 17,872 Net income Amortization of defined benefit pension items Prior service costs $ (210 ) Employee benefits Actuarial losses (5,148 ) Employee benefits (5,358 ) Employee benefits 2,084 Income taxes $ (3,274 ) Net income Total reclassifications for the period $ 14,598 (1) Amounts in parentheses indicate debits to profit/loss. |
Parent Company Financial Stat54
Parent Company Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheets | Parent Company Condensed Balance Sheets (Dollars in thousands) December 31, 2015 December 31, 2014 Assets Cash $ 26,285 $ 24,026 Investment securities available for sale 21,137 110,644 Investment in banking subsidiaries 2,874,581 2,750,201 Investment in other subsidiaries 43,117 65,665 Due from subsidiaries — 295,994 Other assets 73,944 74,157 Total assets $ 3,039,064 $ 3,320,687 Liabilities and Shareholders' Equity Short-term borrowings $ — $ 485,207 Long-term obligations 133,775 136,717 Due to subsidiaries 29,682 — Other liabilities 3,498 11,169 Shareholders' equity 2,872,109 2,687,594 Total liabilities and shareholders' equity $ 3,039,064 $ 3,320,687 |
Condensed Income Statements | Parent Company Condensed Income Statements Year ended December 31 (Dollars in thousands) 2015 2014 2013 Interest income $ 645 $ 1,784 $ 1,387 Interest expense 6,793 9,694 7,065 Net interest loss (6,148 ) (7,910 ) (5,678 ) Dividends from banking subsidiaries 75,006 82,419 131,006 Dividends from other subsidiaries 23,500 — — Other income 1,870 33,600 3,620 Other operating expense 2,634 6,534 2,344 Income before income tax benefit and equity in undistributed net income of subsidiaries 91,594 101,575 126,604 Income tax benefit (2,618 ) (2,590 ) (2,095 ) Income before equity in undistributed net income of subsidiaries 94,212 104,165 128,699 Equity in undistributed net income of subsidiaries 116,174 34,397 38,170 Net income $ 210,386 $ 138,562 $ 166,869 |
Condensed Statements of Cash Flows | Parent Company Condensed Statements of Cash Flows Year ended December 31 (Dollars in thousands) 2015 2014 2013 OPERATING ACTIVITIES Net income $ 210,386 $ 138,562 $ 166,869 Adjustments Undistributed net income of subsidiaries (116,174 ) (34,397 ) (38,170 ) Net amortization of premiums and discounts (2,712 ) 594 334 Securities gains (236 ) (29,126 ) — Gain on elimination of acquired debt — (1,988 ) — Gain on sale of other assets — — (1,331 ) Change in other assets (3,070 ) 93,385 (61,704 ) Change in other liabilities (1,157 ) 2,250 (2,096 ) Net cash provided by operating activities 87,037 169,280 63,902 INVESTING ACTIVITIES Net change in due from subsidiaries 295,994 (150,328 ) (67,154 ) Purchases of investment securities (7,818 ) (33,243 ) (126,197 ) Proceeds from sales, calls, and maturities of securities 100,586 114,208 135,000 Investment in subsidiaries — 1,579 1,489 Business acquisitions, net of cash acquired — (24,772 ) — Net cash provided (used) by investing activities 388,762 (92,556 ) (56,862 ) FINANCING ACTIVITIES Net change in due to subsidiaries 29,682 — — Net change in short-term borrowings (485,207 ) (1,211 ) 12,860 Retirement of long-term obligations — (52,372 ) — Stock issuance costs — (619 ) — Repurchase of common stock — — (321 ) Cash dividends paid (18,015 ) (11,543 ) (8,663 ) Net cash (used) provided by financing activities (473,540 ) (65,745 ) 3,876 Net change in cash 2,259 10,979 10,916 Cash balance at beginning of year 24,026 13,047 2,131 Cash balance at end of year $ 26,285 $ 24,026 $ 13,047 |
Accounting Policies and Basis55
Accounting Policies and Basis of Presentation Summary of Significant Accounting Policies (Details) | 12 Months Ended | |
Dec. 31, 2015USD ($)votebranch | Dec. 31, 2014USD ($) | |
Property, Plant and Equipment [Line Items] | ||
Allowance for Loan and Lease Losses, Reserve Release due to Update of Factors | $ 4,800,000 | |
Nonmarketable Securities and Federal Home Loan Bank Stock | $ 37,700,000 | $ 52,800,000 |
Period fair values are subject to refinement | 1 year | |
Number of branches | branch | 559 | |
Net deferred fees on non-PCI loans | $ 16,600,000 | 20,800,000 |
Baseline for measurement | 500,000 | |
Securities Sold under Agreements to Repurchase | 622,182,000 | 324,426,000 |
Short-term borrowings | $ 594,733,000 | $ 987,184,000 |
Class A Common Stock | ||
Property, Plant and Equipment [Line Items] | ||
Votes per share of common stock | vote | 1 | |
Class B Common Stock | ||
Property, Plant and Equipment [Line Items] | ||
Votes per share of common stock | vote | 16 | |
Premises | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life of asset | 7 years | |
Premises | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life of asset | 40 years | |
Furniture, Software, and Equipment | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life of asset | 3 years | |
Furniture, Software, and Equipment | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life of asset | 10 years |
Business Combinations Businss C
Business Combinations Businss Combinations (Details) - USD ($) | Feb. 14, 2015 | Oct. 02, 2014 | Jan. 02, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Feb. 13, 2015 | Oct. 01, 2014 |
Business Acquisition [Line Items] | ||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 154,496,000 | $ 623,408,000 | $ 154,496,000 | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 4,175,586,000 | |||||||
FDIC Indemnification Asset, Acquisitions | 0 | 5,106,000 | $ 0 | |||||
Gain on acquisition | 42,930,000 | 0 | 0 | |||||
Merger-related expenses | 14,174,000 | 13,064,000 | $ 391,000 | |||||
Capitol City Bank and Trust | ||||||||
Business Acquisition [Line Items] | ||||||||
Cash and due from banks | 19,622,000 | |||||||
Investment securities | 35,413,000 | |||||||
Other intangible assets | 690,000 | |||||||
Other assets | 1,714,000 | |||||||
Total assets acquired | 211,935,000 | |||||||
Deposits | 266,352,000 | |||||||
Business Combination Bargain Purchase Gain Adjustment | 5,400,000 | |||||||
Gain on acquisition | $ 42,930,000 | |||||||
Bargain Purchase After Tax Gain | $ 26,400,000 | |||||||
Short-term borrowings | 5,501,000 | |||||||
Other liabilities | 667,000 | |||||||
Total liabilities assumed | 272,520,000 | |||||||
Fair value of net assets (liabilities) acquired | (60,585,000) | |||||||
Business Combination Cash Received From FDIC In Acquisition | $ 103,515,000 | |||||||
Revenue of acquired business | 8,300,000 | |||||||
Merger-related expenses | 1,900,000 | |||||||
Bancorporation | ||||||||
Business Acquisition [Line Items] | ||||||||
BancShares number of shares owned in Bancorporation | 32,042 | |||||||
Gain on Bancorporation stock | $ 29,100,000 | |||||||
Cash paid to shareholders | 30,394,000 | |||||||
Fair value of Bancorporation shares owned by BancShares | 29,551,000 | |||||||
Total purchase price | 624,192,000 | |||||||
Cash and due from banks | 194,570,000 | |||||||
Overnight investments | 1,087,325,000 | |||||||
Investment securities | 2,011,263,000 | |||||||
Loans held for sale | 30,997,000 | |||||||
Loans and leases | 4,491,067,000 | |||||||
Premises and equipment | 238,646,000 | |||||||
Other real estate owned | 35,344,000 | |||||||
Income earned not collected | 15,266,000 | |||||||
FDIC loss share receivable | 5,106,000 | |||||||
Other intangible assets | 109,416,000 | |||||||
Other assets | 56,367,000 | |||||||
Total assets acquired | 8,275,367,000 | |||||||
Deposits | 7,174,817,000 | |||||||
Short-term borrowings | 295,681,000 | |||||||
Long-term obligations | 124,852,000 | |||||||
FDIC loss share payable | 224,000 | |||||||
Other liabilities | 59,834,000 | |||||||
Total liabilities assumed | 7,655,408,000 | |||||||
Fair value of net assets (liabilities) acquired | 619,959,000 | |||||||
Goodwill acquired | 4,233,000 | 0 | 4,233,000 | |||||
Revenue of acquired business | 92,800,000 | |||||||
Net income of acquired business | 12,700,000 | |||||||
Merger-related expenses | 12,300,000 | 8,000,000 | ||||||
Pro forma revenue | 1,336,340,000 | |||||||
Pro forma net income | (13,171,000) | |||||||
Goodwill Impairment Prior To Acquisition | $ 166,800,000 | |||||||
Bancorporation | Class A Common Stock | ||||||||
Business Acquisition [Line Items] | ||||||||
Right to receive number of shares conversion | 2,586,762 | |||||||
Value of shares of BancShares common stock issued to Bancorporation shareholders | 560,370,000 | |||||||
Bancorporation | Class B Common Stock | ||||||||
Business Acquisition [Line Items] | ||||||||
Right to receive number of shares conversion | 18,202 | |||||||
Value of shares of BancShares common stock issued to Bancorporation shareholders | $ 3,877,000 | |||||||
1st Financial | ||||||||
Business Acquisition [Line Items] | ||||||||
Cash paid to shareholders | $ 2,000,000 | |||||||
Cash paid to acquire and retire TARP securities | 8,000,000 | |||||||
Total purchase price | 10,000,000 | |||||||
Cash and due from banks | 28,194,000 | |||||||
Investment securities | 237,438,000 | |||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 307,927,000 | |||||||
Other intangible assets | 3,780,000 | |||||||
Total assets acquired | 612,921,000 | |||||||
Deposits | 631,871,000 | |||||||
Total liabilities assumed | 635,836,000 | |||||||
Goodwill acquired | $ 32,915,000 | 0 | $ 32,915,000 | |||||
Revenue of acquired business | 15,200,000 | |||||||
Merger-related expenses | $ 5,000,000 | |||||||
Shares and Cash | Bancorporation | ||||||||
Business Acquisition [Line Items] | ||||||||
Right to receive cash per share | $ 50 | |||||||
Shares and Cash | Bancorporation | Class A Common Stock | ||||||||
Business Acquisition [Line Items] | ||||||||
Right to receive number of shares conversion | 4 | |||||||
Shares Only | Bancorporation | Class A Common Stock | ||||||||
Business Acquisition [Line Items] | ||||||||
Right to receive number of shares conversion | 3.58 | |||||||
Shares Only | Bancorporation | Class B Common Stock | ||||||||
Business Acquisition [Line Items] | ||||||||
Right to receive number of shares conversion | 0.42 |
Investments (Aggregate Values a
Investments (Aggregate Values and Unrealized Gains and Losses) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Investments [Line Items] | ||
Aggregate fair value, continuous unrealized loss position, 12 months or more | $ 280,126 | $ 832,420 |
Investment securities available for sale | ||
Cost | 6,885,797 | 7,163,574 |
Gross Unrealized Gains | 6,367 | 20,589 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 30,871 | 12,246 |
Fair Value | 6,861,293 | 7,171,917 |
Investment securities held to maturity | ||
Cost | 255 | 518 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 6,094 | 10,043 |
U. S. Treasury | ||
Schedule of Investments [Line Items] | ||
Aggregate fair value, continuous unrealized loss position, 12 months or more | 0 | 1,015 |
Investment securities available for sale | ||
Cost | 1,675,996 | 2,626,900 |
Gross Unrealized Gains | 4 | 2,922 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 1,118 | 152 |
Fair Value | 1,674,882 | 2,629,670 |
Investment securities held to maturity | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 1 |
Government Agency | ||
Schedule of Investments [Line Items] | ||
Aggregate fair value, continuous unrealized loss position, 12 months or more | 0 | 0 |
Investment securities available for sale | ||
Cost | 498,804 | 908,362 |
Gross Unrealized Gains | 230 | 702 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 374 | 247 |
Fair Value | 498,660 | 908,817 |
Investment securities held to maturity | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Mortgage Backed Securities, Other | ||
Schedule of Investments [Line Items] | ||
Aggregate fair value, continuous unrealized loss position, 12 months or more | 280,126 | 831,405 |
Investment securities available for sale | ||
Cost | 4,692,447 | 3,628,187 |
Gross Unrealized Gains | 5,120 | 16,964 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 29,369 | 11,847 |
Fair Value | 4,668,198 | 3,633,304 |
Investment securities held to maturity | ||
Cost | 255 | 518 |
Held To Maturity Securities Accumulated Unrecognized Holding Gain | 10 | 26 |
Held To Maturity Securities Accumulated Unrecognized Holding Loss | 0 | 0 |
Fair Value | 265 | 544 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 6,094 | 10,042 |
Equity Securities | ||
Schedule of Investments [Line Items] | ||
Aggregate fair value, continuous unrealized loss position, 12 months or more | 0 | |
Investment securities available for sale | ||
Cost | 7,935 | |
Gross Unrealized Gains | 968 | |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 10 | |
Fair Value | 8,893 | |
Investment securities held to maturity | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
State, County and Municipal | ||
Investment securities available for sale | ||
Cost | 125 | |
Gross Unrealized Gains | 1 | |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 0 | |
Fair Value | $ 126 | |
Other Debt Obligations | ||
Schedule of Investments [Line Items] | ||
Aggregate fair value, continuous unrealized loss position, 12 months or more | 0 | |
Investment securities available for sale | ||
Cost | 10,615 | |
Gross Unrealized Gains | 45 | |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 0 | |
Fair Value | 10,660 | |
Investment securities held to maturity | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 0 |
Investments (Maturity Informati
Investments (Maturity Information) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Investment securities available for sale | ||
Total investment securities available for sale, cost | $ 6,885,797 | $ 7,163,574 |
Investment securities available for sale | 6,861,293 | 7,171,917 |
Investment securities held to maturity | ||
Investment securities held to maturity | 255 | 518 |
Debt Securities | ||
Investment securities available for sale | ||
Maturing in one year or less, cost | 1,255,714 | 447,866 |
Maturing in one through five years, cost | 919,086 | 3,087,521 |
Maturing in five through ten years, cost | 8,500 | 0 |
Maturing in over ten years, cost | 2,115 | 0 |
Maturing in one year or less, fair value | 1,255,094 | 447,992 |
Maturing in one through five years, fair value | 918,448 | 3,090,621 |
Maturing in five through ten years, fair value | 8,500 | 0 |
Maturing in over ten years, fair value | 2,160 | 0 |
Equity Securities | ||
Investment securities available for sale | ||
Total investment securities available for sale, cost | 7,935 | 0 |
Investment securities available for sale | 8,893 | 0 |
Mortgage Backed Securities, Other | ||
Investment securities available for sale | ||
Total investment securities available for sale, cost | 4,692,447 | 3,628,187 |
Investment securities available for sale | 4,668,198 | 3,633,304 |
Investment securities held to maturity | ||
Investment securities held to maturity | 255 | 518 |
Fair Value | $ 265 | $ 544 |
Investments (Securities Gains (
Investments (Securities Gains (Losses)) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Investments [Abstract] | |||
Gross gains on sales of investment securities available for sale | $ 10,834 | $ 29,129 | $ 0 |
Gross losses on sales of investment securities available for sale | (17) | (33) | 0 |
Total securities gains (losses) | $ 10,817 | $ 29,096 | $ 0 |
Investments (Unrealized Losses)
Investments (Unrealized Losses) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Investment securities available for sale: | ||
Less than 12 months, fair value | $ 5,340,271 | $ 1,173,274 |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 24,777 | 2,203 |
Aggregate fair value, continuous unrealized loss position, 12 months or more | 280,126 | 832,420 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 6,094 | 10,043 |
Total fair value | 5,620,397 | 2,005,694 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 30,871 | 12,246 |
U. S. Treasury | ||
Investment securities available for sale: | ||
Less than 12 months, fair value | 1,539,637 | 338,612 |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 1,118 | 151 |
Aggregate fair value, continuous unrealized loss position, 12 months or more | 0 | 1,015 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 1 |
Total fair value | 1,539,637 | 339,627 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 1,118 | 152 |
Government Agency | ||
Investment securities available for sale: | ||
Less than 12 months, fair value | 229,436 | 261,288 |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 374 | 247 |
Aggregate fair value, continuous unrealized loss position, 12 months or more | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Total fair value | 229,436 | 261,288 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 374 | 247 |
Mortgage Backed Securities, Other | ||
Investment securities available for sale: | ||
Less than 12 months, fair value | 3,570,470 | 573,374 |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 23,275 | 1,805 |
Aggregate fair value, continuous unrealized loss position, 12 months or more | 280,126 | 831,405 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 6,094 | 10,042 |
Total fair value | 3,850,596 | 1,404,779 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 29,369 | 11,847 |
Equity Securities | ||
Investment securities available for sale: | ||
Less than 12 months, fair value | 728 | |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 10 | |
Aggregate fair value, continuous unrealized loss position, 12 months or more | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Total fair value | 728 | |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 10 | |
Other Debt Obligations | ||
Investment securities available for sale: | ||
Less than 12 months, fair value | 0 | |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 0 | |
Aggregate fair value, continuous unrealized loss position, 12 months or more | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Total fair value | 0 | |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | $ 0 | |
State, County and Municipal | ||
Investment securities available for sale: | ||
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | $ 0 |
Investments (Narrative) (Detail
Investments (Narrative) (Details) | 12 Months Ended | |
Dec. 31, 2015USD ($)investments | Dec. 31, 2014USD ($) | |
Investments [Abstract] | ||
Available-for-sale Securities, Aggregate fair value, continuous unrealized loss position, 12 months or more | $ 280,126,000 | $ 832,420,000 |
Number of investments in continuous unrealized loss position for more than twelve months | investments | 39 | |
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 | $ 4,730,000,000 | $ 4,370,000,000 |
Loans and Leases (Narrative) (D
Loans and Leases (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable, Recorded Investment [Line Items] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Purchase Discount Remaining | $ 41,100 | $ 61,200 |
Loans and Leases Receivable, Collateral for Secured Borrowings | 6,080,000 | 2,200,000 |
Advances from Federal Home Loan Banks | 510,300 | 240,300 |
Federal Home Loan Bank Advances, Current Borrowing Capacity | 5,570,000 | 1,960,000 |
Sale of Loans Held-for-investment | 45,900 | |
Noncovered loans pledged to secure debt obligations | $ 8,580,000 | 3,160,000 |
Charge off of past due business credit card loans (days) | 120 days | |
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 272,600 | 485,300 |
Non-PCI Loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Accretion Income | 18,700 | 5,900 |
United Western Bank [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 119,600 | |
First Regional Bank | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 9,700 | |
Colorado Capital Bank [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 4,800 | |
PCI Loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonaccruing | 7,579 | 33,422 |
Loans on the Cost Recovery Method | PCI Loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Carrying value of acquired impaired loans | 5,300 | $ 33,400 |
Williamsburg First National Bank | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, not covered by FDIC loss share agreements | 6,800 | |
Sun American Bank | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, not covered by FDIC loss share agreements | $ 26,700 |
Loans and Leases (Loans and Lea
Loans and Leases (Loans and Leases Outstanding) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 272,600 | $ 485,300 | |
PCI Loans | 950,516 | 1,186,498 | $ 1,029,426 |
Non-PCI | 19,289,474 | 17,582,967 | |
Total loans and leases | 20,239,990 | 18,769,465 | |
Commercial | |||
PCI Loans | 593,614 | 726,123 | |
Non-PCI | 12,630,489 | 11,205,639 | |
Commercial | Construction and land development | |||
PCI Loans | 33,880 | 78,079 | |
Non-PCI | 620,352 | 493,133 | |
Commercial | Mortgage | |||
PCI Loans | 525,468 | 577,518 | |
Non-PCI | 8,274,548 | 7,552,948 | |
Commercial | Commercial and industrial | |||
PCI Loans | 15,182 | 27,254 | |
Non-PCI | 2,368,958 | 1,988,934 | |
Commercial | Lease financing | |||
Non-PCI | 730,778 | 571,916 | |
Commercial | Other commercial real estate | |||
PCI Loans | 17,076 | 40,193 | |
Non-PCI | 321,021 | 244,875 | |
Commercial | Other | |||
PCI Loans | 2,008 | 3,079 | |
Non-PCI | 314,832 | 353,833 | |
Noncommercial | |||
PCI Loans | 356,902 | 460,375 | |
Non-PCI | 6,658,985 | 6,377,328 | |
Noncommercial | Construction and land development | |||
PCI Loans | 0 | 912 | |
Non-PCI | 220,073 | 205,016 | |
Noncommercial | Mortgage | |||
PCI Loans | 302,158 | 382,340 | |
Non-PCI | 2,695,985 | 2,493,058 | |
Noncommercial | Revolving mortgage | |||
PCI Loans | 52,471 | 74,109 | |
Non-PCI | 2,523,106 | 2,561,800 | |
Noncommercial | Consumer | |||
PCI Loans | 2,273 | 3,014 | |
Non-PCI | $ 1,219,821 | $ 1,117,454 |
Loans and Leases (Loans Acquire
Loans and Leases (Loans Acquired By Loan Class) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | $ 950,516 | $ 1,186,498 | $ 1,029,426 |
Commercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 593,614 | 726,123 | |
Commercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 33,880 | 78,079 | |
Commercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 525,468 | 577,518 | |
Commercial | Other commercial real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 17,076 | 40,193 | |
Commercial | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 15,182 | 27,254 | |
Commercial | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 2,008 | 3,079 | |
Noncommercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 356,902 | 460,375 | |
Noncommercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 0 | 912 | |
Noncommercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 302,158 | 382,340 | |
Noncommercial | Revolving mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 52,471 | 74,109 | |
Noncommercial | Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | $ 2,273 | $ 3,014 |
Loans and Leases (Composition o
Loans and Leases (Composition of the Loans and Leases Outstanding By Credit Quality Indicator) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | $ 19,289,474 | $ 17,582,967 | |
PCI Loans | 950,516 | 1,186,498 | $ 1,029,426 |
Commercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 12,630,489 | 11,205,639 | |
PCI Loans | 593,614 | 726,123 | |
Commercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 620,352 | 493,133 | |
PCI Loans | 33,880 | 78,079 | |
Commercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 8,274,548 | 7,552,948 | |
PCI Loans | 525,468 | 577,518 | |
Commercial | Other commercial real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 321,021 | 244,875 | |
PCI Loans | 17,076 | 40,193 | |
Commercial | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 2,368,958 | 1,988,934 | |
PCI Loans | 15,182 | 27,254 | |
Commercial | Lease financing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 730,778 | 571,916 | |
Commercial | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 314,832 | 353,833 | |
PCI Loans | 2,008 | 3,079 | |
Commercial | Consumer and Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 2,008 | 3,079 | |
Commercial | Pass | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 12,204,677 | 10,773,986 | |
PCI Loans | 294,663 | 342,172 | |
Commercial | Pass | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 611,314 | 474,374 | |
PCI Loans | 14,710 | 13,514 | |
Commercial | Pass | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 8,024,831 | 7,284,714 | |
PCI Loans | 262,579 | 300,187 | |
Commercial | Pass | Other commercial real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 318,187 | 242,053 | |
PCI Loans | 7,366 | 11,033 | |
Commercial | Pass | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 2,219,606 | 1,859,415 | |
PCI Loans | 9,302 | 16,637 | |
Commercial | Pass | Lease financing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 719,338 | 564,319 | |
Commercial | Pass | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 311,401 | 349,111 | |
Commercial | Pass | Consumer and Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 706 | 801 | |
Commercial | Special Mention | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 132,021 | 176,355 | |
PCI Loans | 89,625 | 125,195 | |
Commercial | Special Mention | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 5,191 | 13,927 | |
PCI Loans | 758 | 6,063 | |
Commercial | Special Mention | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 100,220 | 129,247 | |
PCI Loans | 87,870 | 98,724 | |
Commercial | Special Mention | Other commercial real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 475 | 909 | |
PCI Loans | 60 | 16,271 | |
Commercial | Special Mention | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 19,361 | 27,683 | |
PCI Loans | 937 | 4,137 | |
Commercial | Special Mention | Lease financing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 4,869 | 3,205 | |
Commercial | Special Mention | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 1,905 | 1,384 | |
Commercial | Special Mention | Consumer and Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 0 | 0 | |
Commercial | Substandard | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 180,100 | 157,333 | |
PCI Loans | 193,051 | 247,138 | |
Commercial | Substandard | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 3,847 | 4,720 | |
PCI Loans | 14,131 | 53,739 | |
Commercial | Substandard | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 146,071 | 134,677 | |
PCI Loans | 163,801 | 171,920 | |
Commercial | Substandard | Other commercial real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 959 | 1,765 | |
PCI Loans | 9,229 | 12,889 | |
Commercial | Substandard | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 21,322 | 8,878 | |
PCI Loans | 4,588 | 6,312 | |
Commercial | Substandard | Lease financing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 6,375 | 3,955 | |
Commercial | Substandard | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 1,526 | 3,338 | |
Commercial | Substandard | Consumer and Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 1,302 | 2,278 | |
Commercial | Doubtful | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 1,176 | 2,895 | |
PCI Loans | 15,438 | 9,241 | |
Commercial | Doubtful | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 0 | 0 | |
PCI Loans | 4,281 | 2,809 | |
Commercial | Doubtful | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 599 | 2,366 | |
PCI Loans | 10,875 | 6,302 | |
Commercial | Doubtful | Other commercial real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 0 | 0 | |
PCI Loans | 0 | 0 | |
Commercial | Doubtful | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 408 | 164 | |
PCI Loans | 282 | 130 | |
Commercial | Doubtful | Lease financing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 169 | 365 | |
Commercial | Doubtful | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 0 | 0 | |
Commercial | Doubtful | Consumer and Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 0 | 0 | |
Commercial | Ungraded | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 112,515 | 95,070 | |
PCI Loans | 837 | 2,377 | |
Commercial | Ungraded | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 0 | 112 | |
PCI Loans | 0 | 1,954 | |
Commercial | Ungraded | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 2,827 | 1,944 | |
PCI Loans | 343 | 385 | |
Commercial | Ungraded | Other commercial real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 1,400 | 148 | |
PCI Loans | 421 | 0 | |
Commercial | Ungraded | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 108,261 | 92,794 | |
PCI Loans | 73 | 38 | |
Commercial | Ungraded | Lease financing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 27 | 72 | |
Commercial | Ungraded | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 0 | 0 | |
Commercial | Ungraded | Consumer and Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 0 | 0 | |
Noncommercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 6,658,985 | 6,377,328 | |
PCI Loans | 356,902 | 460,375 | |
Noncommercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 220,073 | 205,016 | |
PCI Loans | 0 | 912 | |
Noncommercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 2,695,985 | 2,493,058 | |
PCI Loans | 302,158 | 382,340 | |
Noncommercial | Revolving mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 2,523,106 | 2,561,800 | |
PCI Loans | 52,471 | 74,109 | |
Noncommercial | Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 1,219,821 | 1,117,454 | |
PCI Loans | 2,273 | 3,014 | |
Non-PCI Loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 19,289,474 | 17,582,967 | |
Current | 19,167,898 | 17,481,500 | |
Past Due | 121,576 | 101,467 | |
Non-PCI Loans | Commercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 620,352 | 493,133 | |
Current | 618,619 | 492,000 | |
Past Due | 1,733 | 1,133 | |
Non-PCI Loans | Commercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 8,274,548 | 7,552,948 | |
Current | 8,243,584 | 7,528,738 | |
Past Due | 30,964 | 24,210 | |
Non-PCI Loans | Commercial | Other commercial real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 321,021 | 244,875 | |
Current | 319,995 | 244,497 | |
Past Due | 1,026 | 378 | |
Non-PCI Loans | Commercial | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 2,368,958 | 1,988,934 | |
Current | 2,363,966 | 1,984,168 | |
Past Due | 4,992 | 4,766 | |
Non-PCI Loans | Commercial | Lease financing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 730,778 | 571,916 | |
Current | 728,542 | 570,275 | |
Past Due | 2,236 | 1,641 | |
Non-PCI Loans | Commercial | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 314,832 | 353,833 | |
Current | 314,531 | 351,721 | |
Past Due | 301 | 2,112 | |
Non-PCI Loans | Noncommercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 6,658,985 | 6,377,328 | |
Current | 6,578,661 | 6,310,101 | |
Non-PCI Loans | Noncommercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 220,073 | 205,016 | |
Current | 214,555 | 202,344 | |
Past Due | 5,518 | 2,672 | |
Non-PCI Loans | Noncommercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 2,695,985 | 2,493,058 | |
Current | 2,651,209 | 2,454,797 | |
Past Due | 44,776 | 38,261 | |
Non-PCI Loans | Noncommercial | Revolving mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 2,523,106 | 2,561,800 | |
Current | 2,502,065 | 2,542,807 | |
Past Due | 21,041 | 18,993 | |
Non-PCI Loans | Noncommercial | Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-PCI Loans | 1,219,821 | 1,117,454 | |
Current | 1,210,832 | 1,110,153 | |
Past Due | 8,989 | 7,301 | |
PCI Loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 1,186,498 | ||
PCI Loans | Commercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 33,880 | 78,079 | |
PCI Loans | Commercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 525,468 | 577,518 | |
PCI Loans | Commercial | Other commercial real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 17,076 | 40,193 | |
PCI Loans | Commercial | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 15,182 | 27,254 | |
PCI Loans | Noncommercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Current | 307,089 | 398,225 | |
PCI Loans | 356,902 | 460,375 | |
PCI Loans | Noncommercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Current | 0 | 506 | |
PCI Loans | 0 | 912 | |
PCI Loans | Noncommercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Current | 257,207 | 326,589 | |
PCI Loans | 302,158 | 382,340 | |
PCI Loans | Noncommercial | Revolving mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Current | 47,901 | 68,548 | |
PCI Loans | 52,471 | 74,109 | |
PCI Loans | Noncommercial | Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Current | 1,981 | 2,582 | |
PCI Loans | 2,273 | 3,014 | |
PCI Loans | Noncommercial | Consumer and Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI Loans | 4,281 | 6,093 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 63,522 | 57,321 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 987 | 520 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 13,023 | 11,367 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 884 | 206 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 2,133 | 2,843 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Lease financing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 2,070 | 1,631 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 3 | 146 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 44,422 | 40,608 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 3,211 | 1,646 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 23,960 | 23,288 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 11,706 | 11,097 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 5,545 | 4,577 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | PCI Loans | Noncommercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 13,531 | 12,984 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | PCI Loans | Noncommercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 0 | 0 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | PCI Loans | Noncommercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 12,318 | 11,432 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | PCI Loans | Noncommercial | Revolving mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 1,127 | 1,405 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | PCI Loans | Noncommercial | Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 86 | 147 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 18,705 | 19,548 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 283 | 283 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 3,446 | 4,782 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 0 | 70 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 1,079 | 1,545 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Lease financing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 2 | 8 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 164 | 1,966 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 13,731 | 10,894 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 669 | 824 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 7,536 | 6,018 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 3,704 | 2,433 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 1,822 | 1,619 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | PCI Loans | Noncommercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 5,074 | 10,443 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | PCI Loans | Noncommercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 0 | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | PCI Loans | Noncommercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 4,441 | 10,073 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | PCI Loans | Noncommercial | Revolving mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 501 | 345 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | PCI Loans | Noncommercial | Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 132 | 25 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 39,349 | 24,598 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 463 | 330 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 14,495 | 8,061 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 142 | 102 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 1,780 | 378 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Lease financing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 164 | 2 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 134 | 0 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 22,171 | 15,725 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 1,638 | 202 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 13,280 | 8,955 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 5,631 | 5,463 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 1,622 | 1,105 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | PCI Loans | Noncommercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 31,208 | 38,723 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | PCI Loans | Noncommercial | Construction and land development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 0 | 406 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | PCI Loans | Noncommercial | Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 28,192 | 34,246 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | PCI Loans | Noncommercial | Revolving mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 2,942 | 3,811 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | PCI Loans | Noncommercial | Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | $ 74 | $ 260 |
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 ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | $ 19,289,474 | $ 17,582,967 |
Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 12,630,489 | 11,205,639 |
Commercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 620,352 | 493,133 |
Commercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 8,274,548 | 7,552,948 |
Commercial | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 321,021 | 244,875 |
Commercial | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 2,368,958 | 1,988,934 |
Commercial | Lease financing | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 730,778 | 571,916 |
Commercial | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 314,832 | 353,833 |
Noncommercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 6,658,985 | 6,377,328 |
Noncommercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 220,073 | 205,016 |
Noncommercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 2,695,985 | 2,493,058 |
Noncommercial | Revolving mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 2,523,106 | 2,561,800 |
Noncommercial | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 1,219,821 | 1,117,454 |
Non-PCI Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 121,576 | 101,467 |
Current | 19,167,898 | 17,481,500 |
Non-PCI Loans | 19,289,474 | 17,582,967 |
Non-PCI Loans | Commercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 1,733 | 1,133 |
Current | 618,619 | 492,000 |
Non-PCI Loans | 620,352 | 493,133 |
Non-PCI Loans | Commercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 30,964 | 24,210 |
Current | 8,243,584 | 7,528,738 |
Non-PCI Loans | 8,274,548 | 7,552,948 |
Non-PCI Loans | Commercial | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 1,026 | 378 |
Current | 319,995 | 244,497 |
Non-PCI Loans | 321,021 | 244,875 |
Non-PCI Loans | Commercial | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 4,992 | 4,766 |
Current | 2,363,966 | 1,984,168 |
Non-PCI Loans | 2,368,958 | 1,988,934 |
Non-PCI Loans | Commercial | Lease financing | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 2,236 | 1,641 |
Current | 728,542 | 570,275 |
Non-PCI Loans | 730,778 | 571,916 |
Non-PCI Loans | Commercial | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 301 | 2,112 |
Current | 314,531 | 351,721 |
Non-PCI Loans | 314,832 | 353,833 |
Non-PCI Loans | Noncommercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 6,578,661 | 6,310,101 |
Non-PCI Loans | 6,658,985 | 6,377,328 |
Non-PCI Loans | Noncommercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 5,518 | 2,672 |
Current | 214,555 | 202,344 |
Non-PCI Loans | 220,073 | 205,016 |
Non-PCI Loans | Noncommercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 44,776 | 38,261 |
Current | 2,651,209 | 2,454,797 |
Non-PCI Loans | 2,695,985 | 2,493,058 |
Non-PCI Loans | Noncommercial | Revolving mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 21,041 | 18,993 |
Current | 2,502,065 | 2,542,807 |
Non-PCI Loans | 2,523,106 | 2,561,800 |
Non-PCI Loans | Noncommercial | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 8,989 | 7,301 |
Current | 1,210,832 | 1,110,153 |
Non-PCI Loans | 1,219,821 | 1,117,454 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 63,522 | 57,321 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 987 | 520 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 13,023 | 11,367 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 884 | 206 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 2,133 | 2,843 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Lease financing | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 2,070 | 1,631 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 3 | 146 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 44,422 | 40,608 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 3,211 | 1,646 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 23,960 | 23,288 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 11,706 | 11,097 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 5,545 | 4,577 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 18,705 | 19,548 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 283 | 283 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 3,446 | 4,782 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 0 | 70 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 1,079 | 1,545 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Lease financing | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 2 | 8 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 164 | 1,966 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 13,731 | 10,894 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 669 | 824 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 7,536 | 6,018 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 3,704 | 2,433 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 1,822 | 1,619 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 39,349 | 24,598 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 463 | 330 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 14,495 | 8,061 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 142 | 102 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 1,780 | 378 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Lease financing | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 164 | 2 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 134 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 22,171 | 15,725 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 1,638 | 202 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 13,280 | 8,955 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 5,631 | 5,463 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | $ 1,622 | $ 1,105 |
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) - Non-PCI Loans - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | $ 95,854 | $ 44,005 |
Loans and leases greater than 90 days and accruing | 3,315 | 11,250 |
Commercial | Construction and land development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 425 | 343 |
Loans and leases greater than 90 days and accruing | 273 | 56 |
Commercial | Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 42,116 | 24,720 |
Loans and leases greater than 90 days and accruing | 242 | 1,003 |
Commercial | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 6,235 | 1,741 |
Loans and leases greater than 90 days and accruing | 953 | 239 |
Commercial | Other commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 239 | 619 |
Loans and leases greater than 90 days and accruing | 0 | 35 |
Commercial | Lease financing | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 389 | 374 |
Loans and leases greater than 90 days and accruing | 0 | 2 |
Noncommercial | Construction and land development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 2,164 | 0 |
Loans and leases greater than 90 days and accruing | 0 | 202 |
Noncommercial | Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 29,977 | 14,242 |
Loans and leases greater than 90 days and accruing | 838 | 3,191 |
Noncommercial | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 133 | 1,966 |
Loans and leases greater than 90 days and accruing | 2 | 0 |
Noncommercial | Revolving mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 12,704 | 0 |
Loans and leases greater than 90 days and accruing | 0 | 5,463 |
Noncommercial | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 1,472 | 0 |
Loans and leases greater than 90 days and accruing | $ 1,007 | $ 1,059 |
Loans and Leases (Changes In Ca
Loans and Leases (Changes In Carrying Value Of Acquired Impaired Loans) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Feb. 13, 2015 | Dec. 31, 2013 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 247,812 | $ 828,156 | ||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
Reductions for repayments, foreclosures and changes in carrying value, net of accretion | (505,058) | (578,704) | ||
Outstanding principal balance | 1,693,372 | 2,057,691 | ||
PCI Loans | 950,516 | 1,186,498 | $ 1,029,426 | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition | 207,688 | 735,381 | ||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 154,496 | 623,408 | $ 154,496 | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Accretion | 114,580 | 112,368 | ||
Commercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 593,614 | 726,123 | ||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 139,894 | 301,857 | ||
Noncommercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 356,902 | 460,375 | ||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 14,602 | 321,551 | ||
Construction and land development | Commercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 33,880 | 78,079 | ||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 4,116 | 69,789 | ||
Construction and land development | Noncommercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 0 | 912 | ||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 0 | 199 | ||
Mortgage | Commercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 525,468 | 577,518 | ||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 129,732 | 176,841 | ||
Mortgage | Noncommercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 302,158 | 382,340 | ||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 13,251 | 287,675 | ||
Revolving mortgage | Noncommercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 52,471 | 74,109 | ||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 0 | 29,777 | ||
Other commercial real estate | Commercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 17,076 | 40,193 | ||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 3,202 | 15,425 | ||
Commercial and industrial | Commercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 15,182 | 27,254 | ||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 2,844 | 37,583 | ||
Other | Commercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 2,008 | 3,079 | ||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 0 | 2,219 | ||
Consumer | Noncommercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 2,273 | 3,014 | ||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 1,351 | 3,900 | ||
PCI Loans | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Nonaccruing | 7,579 | 33,422 | ||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 1,186,498 | |||
PCI Loans | Noncommercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 356,902 | 460,375 | ||
PCI Loans | Construction and land development | Commercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 33,880 | 78,079 | ||
PCI Loans | Construction and land development | Noncommercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 0 | 912 | ||
PCI Loans | Mortgage | Commercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 525,468 | 577,518 | ||
PCI Loans | Mortgage | Noncommercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 302,158 | 382,340 | ||
PCI Loans | Revolving mortgage | Noncommercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 52,471 | 74,109 | ||
PCI Loans | Other commercial real estate | Commercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 17,076 | 40,193 | ||
PCI Loans | Commercial and industrial | Commercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | 15,182 | 27,254 | ||
PCI Loans | Consumer | Noncommercial | ||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||
PCI Loans | $ 2,273 | $ 3,014 |
Loans and Leases (Changes In 69
Loans and Leases (Changes In Carrying Amount Of Accretable Yield) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Oct. 01, 2014 | Dec. 31, 2013 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 4,708,681 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition | 59,187 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 4,175,586 | |||
Changes in Amount of Accretable Yield [Roll Forward] | ||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield | $ 343,856 | $ 418,160 | $ 439,990 | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Additions | 53,192 | 111,973 | ||
Accretion | (114,580) | (112,368) | ||
Reclassifications from nonaccretable difference | 25,357 | 7,865 | ||
Changes in expected cash flows that do not affect nonaccretable difference | $ (38,273) | $ (29,300) |
Loans and Leases Loans and Leas
Loans and Leases Loans and Leases (Recorded Fair Values of Purchased Non-Impaired Loans and Leases) (Details) $ in Thousands | Oct. 01, 2014USD ($) |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Total non-PCI loans and leases | $ 4,175,586 |
Commercial | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Total non-PCI loans and leases | 1,747,900 |
Commercial | Construction and land development | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Total non-PCI loans and leases | 134,941 |
Commercial | Mortgage | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Total non-PCI loans and leases | 951,794 |
Commercial | Other commercial real estate | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Total non-PCI loans and leases | 61,856 |
Commercial | Commercial and industrial | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Total non-PCI loans and leases | 431,367 |
Commercial | Lease financing | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Total non-PCI loans and leases | 72,563 |
Commercial | Other | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Total non-PCI loans and leases | 95,379 |
Noncommercial | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Total non-PCI loans and leases | 2,427,686 |
Noncommercial | Construction and land development | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Total non-PCI loans and leases | 7,165 |
Noncommercial | Mortgage | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Total non-PCI loans and leases | 1,305,140 |
Noncommercial | Revolving mortgage | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Total non-PCI loans and leases | 419,106 |
Noncommercial | Consumer | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Total non-PCI loans and leases | $ 696,275 |
Allowance for Loan and Lease 71
Allowance for Loan and Lease Losses (Summary of Activity In Allowance for Loan and Lease Losses) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | $ 204,466 | $ 233,394 | $ 319,018 | |||||
Reclassification | 0 | 0 | 7,368 | [1] | ||||
Provisions | 20,664 | 640 | (32,255) | |||||
Charge-offs | (28,348) | (37,770) | (68,026) | |||||
Recoveries | 9,434 | 8,202 | 7,289 | |||||
Net charge-offs | (18,914) | (29,568) | (60,737) | |||||
Ending balance | 206,216 | 204,466 | 233,394 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Total allowance for loan and lease losses | 204,466 | 233,394 | 319,018 | $ 206,216 | $ 204,466 | $ 233,394 | ||
Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Net Loans and Leases | 20,033,774 | 18,564,999 | ||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
ALLL for loans and leases acquired with deteriorated credit quality | 206,216 | 204,466 | ||||||
PCI Loans | 950,516 | 1,186,498 | 1,029,426 | |||||
Commercial | ||||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 593,614 | 726,123 | ||||||
Commercial | Construction and land development | ||||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 33,880 | 78,079 | ||||||
Commercial | Mortgage | ||||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 525,468 | 577,518 | ||||||
Commercial | Other commercial real estate | ||||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 17,076 | 40,193 | ||||||
Commercial | Commercial and industrial | ||||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 15,182 | 27,254 | ||||||
Commercial | Other | ||||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 2,008 | 3,079 | ||||||
Commercial | Consumer and Other | ||||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 2,008 | 3,079 | ||||||
Noncommercial | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Reclassification | 7,368 | |||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 356,902 | 460,375 | ||||||
Noncommercial | Construction and land development | ||||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 0 | 912 | ||||||
Noncommercial | Mortgage | ||||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 302,158 | 382,340 | ||||||
Noncommercial | Revolving mortgage | ||||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 52,471 | 74,109 | ||||||
Noncommercial | Consumer | ||||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 2,273 | 3,014 | ||||||
Noncommercial | Non-specific | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Reclassification | (15,772) | |||||||
Non-PCI Loans | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 182,837 | 179,874 | 179,046 | |||||
Reclassification | [1] | 7,368 | ||||||
Provisions | 22,937 | 15,260 | 19,289 | |||||
Charge-offs | (25,304) | (20,499) | (33,118) | |||||
Recoveries | 9,434 | 8,202 | 7,289 | |||||
Net charge-offs | (15,870) | (12,297) | (25,829) | |||||
Ending balance | 189,904 | 182,837 | 179,874 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
ALLL for loans and leases individually evaluated for impairment | 7,200 | 15,717 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 182,704 | 167,120 | ||||||
Total allowance for loan and lease losses | 182,837 | 179,874 | 179,046 | 189,904 | 182,837 | 179,874 | ||
Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 150,367 | 119,593 | ||||||
Loans and leases collectively evaluated for impairment | 19,139,107 | 17,463,074 | ||||||
Net Loans and Leases | 19,289,474 | 17,582,667 | ||||||
Non-PCI Loans | Commercial | Construction and land development | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 11,961 | 10,335 | 6,031 | |||||
Reclassification | [1] | 5,141 | ||||||
Provisions | 4,773 | 1,735 | 2,809 | |||||
Charge-offs | (1,012) | (316) | (4,685) | |||||
Recoveries | 566 | 207 | 1,039 | |||||
Ending balance | 16,288 | 11,961 | 10,335 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
ALLL for loans and leases individually evaluated for impairment | 123 | 92 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 16,165 | 11,869 | ||||||
Total allowance for loan and lease losses | 11,961 | 10,335 | 6,031 | 16,288 | 11,961 | 10,335 | ||
Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 3,094 | 1,620 | ||||||
Loans and leases collectively evaluated for impairment | 617,258 | 491,513 | ||||||
Net Loans and Leases | 620,352 | 493,133 | ||||||
Non-PCI Loans | Commercial | Mortgage | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 85,189 | 100,257 | 80,229 | |||||
Reclassification | [1] | 27,421 | ||||||
Provisions | (15,822) | (16,746) | (4,485) | |||||
Charge-offs | (1,498) | (1,147) | (3,904) | |||||
Recoveries | 2,027 | 2,825 | 996 | |||||
Ending balance | 69,896 | 85,189 | 100,257 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
ALLL for loans and leases individually evaluated for impairment | 3,370 | 8,610 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 66,526 | 76,579 | ||||||
Total allowance for loan and lease losses | 85,189 | 100,257 | 80,229 | 69,896 | 85,189 | 100,257 | ||
Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 95,107 | 82,803 | ||||||
Loans and leases collectively evaluated for impairment | 8,179,441 | 7,470,145 | ||||||
Net Loans and Leases | 8,274,548 | 7,552,948 | ||||||
Non-PCI Loans | Commercial | Other commercial real estate | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 732 | 1,009 | 2,059 | |||||
Reclassification | [1] | (815) | ||||||
Provisions | 1,569 | (401) | (32) | |||||
Charge-offs | (178) | 0 | (312) | |||||
Recoveries | 45 | 124 | 109 | |||||
Ending balance | 2,168 | 732 | 1,009 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
ALLL for loans and leases individually evaluated for impairment | 289 | 112 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 1,879 | 620 | ||||||
Total allowance for loan and lease losses | 732 | 1,009 | 2,059 | 2,168 | 732 | 1,009 | ||
Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 427 | 584 | ||||||
Loans and leases collectively evaluated for impairment | 320,594 | 244,291 | ||||||
Net Loans and Leases | 321,021 | 244,875 | ||||||
Non-PCI Loans | Commercial | Commercial and industrial | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 30,727 | 22,362 | 14,050 | |||||
Reclassification | [1] | 7,551 | ||||||
Provisions | 17,432 | 10,441 | 4,333 | |||||
Charge-offs | (5,952) | (3,014) | (4,785) | |||||
Recoveries | 909 | 938 | 1,213 | |||||
Ending balance | 43,116 | 30,727 | 22,362 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
ALLL for loans and leases individually evaluated for impairment | 1,118 | 1,743 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 41,998 | 28,984 | ||||||
Total allowance for loan and lease losses | 30,727 | 22,362 | 14,050 | 43,116 | 30,727 | 22,362 | ||
Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 17,910 | 11,040 | ||||||
Loans and leases collectively evaluated for impairment | 2,351,048 | 1,977,594 | ||||||
Net Loans and Leases | 2,368,958 | 1,988,634 | ||||||
Non-PCI Loans | Commercial | Lease financing | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 4,286 | 4,749 | 3,521 | |||||
Reclassification | [1] | (253) | ||||||
Provisions | 1,602 | (473) | 1,646 | |||||
Charge-offs | (402) | (100) | (272) | |||||
Recoveries | 38 | 110 | 107 | |||||
Ending balance | 5,524 | 4,286 | 4,749 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
ALLL for loans and leases individually evaluated for impairment | 213 | 150 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 5,311 | 4,136 | ||||||
Total allowance for loan and lease losses | 4,286 | 4,749 | 3,521 | 5,524 | 4,286 | 4,749 | ||
Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 1,755 | 623 | ||||||
Loans and leases collectively evaluated for impairment | 729,023 | 571,293 | ||||||
Net Loans and Leases | 730,778 | 571,916 | ||||||
Non-PCI Loans | Commercial | Other | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 3,184 | 190 | 1,175 | |||||
Reclassification | [1] | (1,288) | ||||||
Provisions | (1,420) | 3,007 | 308 | |||||
Charge-offs | 0 | (13) | (6) | |||||
Recoveries | 91 | 0 | 1 | |||||
Ending balance | 1,855 | 3,184 | 190 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
ALLL for loans and leases individually evaluated for impairment | 0 | 1,972 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 1,855 | 1,212 | ||||||
Total allowance for loan and lease losses | 3,184 | 190 | 1,175 | 1,855 | 3,184 | 190 | ||
Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 1,183 | 2,000 | ||||||
Loans and leases collectively evaluated for impairment | 313,649 | 351,833 | ||||||
Net Loans and Leases | 314,832 | 353,833 | ||||||
Non-PCI Loans | Noncommercial | Construction and land development | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 892 | 681 | 1,721 | |||||
Reclassification | [1] | (478) | ||||||
Provisions | 541 | 245 | (379) | |||||
Charge-offs | (22) | (118) | (392) | |||||
Recoveries | 74 | 84 | 209 | |||||
Ending balance | 1,485 | 892 | 681 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
ALLL for loans and leases individually evaluated for impairment | 49 | 71 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 1,436 | 821 | ||||||
Total allowance for loan and lease losses | 892 | 681 | 1,721 | 1,485 | 892 | 681 | ||
Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 784 | 1,340 | ||||||
Loans and leases collectively evaluated for impairment | 219,289 | 203,676 | ||||||
Net Loans and Leases | 220,073 | 205,016 | ||||||
Non-PCI Loans | Noncommercial | Mortgage | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 10,661 | 10,511 | 3,836 | |||||
Reclassification | [1] | 5,717 | ||||||
Provisions | 4,202 | 1,219 | 2,786 | |||||
Charge-offs | (1,619) | (1,260) | (2,387) | |||||
Recoveries | 861 | 191 | 559 | |||||
Ending balance | 14,105 | 10,661 | 10,511 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
ALLL for loans and leases individually evaluated for impairment | 1,212 | 1,360 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 12,893 | 9,301 | ||||||
Total allowance for loan and lease losses | 10,661 | 10,511 | 3,836 | 14,105 | 10,661 | 10,511 | ||
Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 22,986 | 14,913 | ||||||
Loans and leases collectively evaluated for impairment | 2,672,999 | 2,478,145 | ||||||
Net Loans and Leases | 2,695,985 | 2,493,058 | ||||||
Non-PCI Loans | Noncommercial | Revolving mortgage | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 18,650 | 16,239 | 25,185 | |||||
Reclassification | [1] | (9,838) | ||||||
Provisions | (927) | 6,301 | 6,296 | |||||
Charge-offs | (2,925) | (4,744) | (6,064) | |||||
Recoveries | 1,173 | 854 | 660 | |||||
Ending balance | 15,971 | 18,650 | 16,239 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
ALLL for loans and leases individually evaluated for impairment | 299 | 1,052 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 15,672 | 17,598 | ||||||
Total allowance for loan and lease losses | 18,650 | 16,239 | 25,185 | 15,971 | 18,650 | 16,239 | ||
Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 5,883 | 3,675 | ||||||
Loans and leases collectively evaluated for impairment | 2,517,223 | 2,558,125 | ||||||
Net Loans and Leases | 2,523,106 | 2,561,800 | ||||||
Non-PCI Loans | Noncommercial | Consumer | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 16,555 | 13,541 | 25,389 | |||||
Reclassification | [1] | (10,018) | ||||||
Provisions | 10,987 | 9,932 | 6,085 | |||||
Charge-offs | (11,696) | (9,787) | (10,311) | |||||
Recoveries | 3,650 | 2,869 | 2,396 | |||||
Ending balance | 19,496 | 16,555 | 13,541 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
ALLL for loans and leases individually evaluated for impairment | 527 | 555 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 18,969 | 16,000 | ||||||
Total allowance for loan and lease losses | 16,555 | 13,541 | 25,389 | 19,496 | 16,555 | 13,541 | ||
Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 1,238 | 995 | ||||||
Loans and leases collectively evaluated for impairment | 1,218,583 | 1,116,459 | ||||||
Net Loans and Leases | 1,219,821 | 1,117,454 | ||||||
Non-PCI Loans | Noncommercial | Non-specific | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 0 | 0 | 15,850 | |||||
Reclassification | [1] | (15,772) | ||||||
Provisions | 0 | 0 | (78) | |||||
Charge-offs | 0 | 0 | 0 | |||||
Recoveries | 0 | 0 | 0 | |||||
Ending balance | 0 | 0 | 0 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Total allowance for loan and lease losses | 0 | 0 | 15,850 | 0 | 0 | 0 | ||
PCI Loans | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 21,629 | 53,520 | 139,972 | |||||
Reclassification | [1] | 0 | ||||||
Provisions | (2,273) | (14,620) | (51,544) | |||||
Charge-offs | (3,044) | (17,271) | (34,908) | |||||
Recoveries | 0 | 0 | 0 | |||||
Net charge-offs | (3,044) | (17,271) | (34,908) | |||||
Ending balance | 16,312 | 21,629 | 53,520 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Total allowance for loan and lease losses | 21,629 | 53,520 | 139,972 | 16,312 | 21,629 | 53,520 | ||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 1,186,498 | |||||||
PCI Loans | Commercial | Construction and land development | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 150 | 1,320 | 31,186 | |||||
Provisions | 1,029 | 1,284 | (22,942) | |||||
Charge-offs | (97) | (2,454) | (6,924) | |||||
Recoveries | 0 | 0 | 0 | |||||
Ending balance | 1,082 | 150 | 1,320 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Total allowance for loan and lease losses | 150 | 1,320 | 31,186 | 1,082 | 150 | 1,320 | ||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 33,880 | 78,079 | ||||||
PCI Loans | Commercial | Mortgage | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 10,135 | 29,906 | 50,275 | |||||
Provisions | (1,426) | (7,903) | (3,872) | |||||
Charge-offs | (871) | (11,868) | (16,497) | |||||
Recoveries | 0 | 0 | 0 | |||||
Ending balance | 7,838 | 10,135 | 29,906 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Total allowance for loan and lease losses | 10,135 | 29,906 | 50,275 | 7,838 | 10,135 | 29,906 | ||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 525,468 | 577,518 | ||||||
PCI Loans | Commercial | Other commercial real estate | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 75 | 1,354 | 11,234 | |||||
Provisions | 698 | (1,385) | (8,949) | |||||
Charge-offs | 0 | (106) | (931) | |||||
Recoveries | 0 | 0 | ||||||
Ending balance | 773 | 75 | 1,354 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Total allowance for loan and lease losses | 75 | 1,354 | 11,234 | 773 | 75 | 1,354 | ||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 17,076 | 40,193 | ||||||
PCI Loans | Commercial | Commercial and industrial | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 1,240 | 5,275 | 8,897 | |||||
Provisions | (470) | (2,023) | 470 | |||||
Charge-offs | (325) | (2,012) | (4,092) | |||||
Recoveries | 0 | 0 | 0 | |||||
Ending balance | 445 | 1,240 | 5,275 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Total allowance for loan and lease losses | 1,240 | 5,275 | 8,897 | 445 | 1,240 | 5,275 | ||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 15,182 | 27,254 | ||||||
PCI Loans | Noncommercial | ||||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 356,902 | 460,375 | ||||||
PCI Loans | Noncommercial | Construction and land development | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 183 | 682 | 8,287 | |||||
Provisions | (183) | (395) | (4,170) | |||||
Charge-offs | 0 | (104) | (3,435) | |||||
Recoveries | 0 | 0 | 0 | |||||
Ending balance | 0 | 183 | 682 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Total allowance for loan and lease losses | 183 | 682 | 8,287 | 0 | 183 | 682 | ||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 0 | 912 | ||||||
PCI Loans | Noncommercial | Mortgage | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 5,820 | 11,802 | 19,837 | |||||
Provisions | 72 | (5,576) | (5,487) | |||||
Charge-offs | (494) | (406) | (2,548) | |||||
Recoveries | 0 | 0 | 0 | |||||
Ending balance | 5,398 | 5,820 | 11,802 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Total allowance for loan and lease losses | 5,820 | 11,802 | 19,837 | 5,398 | 5,820 | 11,802 | ||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 302,158 | 382,340 | ||||||
PCI Loans | Noncommercial | Revolving mortgage | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 3,999 | 2,959 | 9,754 | |||||
Provisions | (2,720) | 1,523 | (6,399) | |||||
Charge-offs | (756) | (483) | (396) | |||||
Recoveries | 0 | 0 | 0 | |||||
Ending balance | 523 | 3,999 | 2,959 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Total allowance for loan and lease losses | 3,999 | 2,959 | 9,754 | 523 | 3,999 | 2,959 | ||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 52,471 | 74,109 | ||||||
PCI Loans | Noncommercial | Consumer | ||||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | 2,273 | 3,014 | ||||||
PCI Loans | Noncommercial | Consumer and Other | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 27 | 222 | 502 | |||||
Provisions | 727 | (145) | (195) | |||||
Charge-offs | (501) | (50) | (85) | |||||
Recoveries | 0 | 0 | 0 | |||||
Ending balance | 253 | 27 | 222 | |||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Total allowance for loan and lease losses | $ 27 | $ 222 | $ 502 | 253 | 27 | $ 222 | ||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
PCI Loans | $ 4,281 | $ 6,093 | ||||||
[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 $7.4 million of the reserve for unfunded commitments related to unfunded, revocable loan commitments into the ALLL. Further discussion is contained in Note A. |
Allowance for Loan and Lease 72
Allowance for Loan and Lease Losses (Allocation of Allowance for Loan and Lease Losses) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | $ 0 | $ 0 | $ 7,368 | [1] | ||
Unpaid principal balance | 1,693,372 | 2,057,691 | ||||
Allowance for loan and lease losses | 206,216 | 204,466 | 233,394 | $ 319,018 | ||
Noncommercial | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | 7,368 | |||||
Noncommercial | Non-specific | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | (15,772) | |||||
Non-PCI Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | [1] | 7,368 | ||||
Unpaid principal balance | 167,966 | 133,466 | ||||
ALLL for loans and leases individually evaluated for impairment | 7,200 | 15,717 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 66,861 | 87,007 | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 83,506 | 32,586 | ||||
Financing Receivable, Individually Evaluated for Impairment | 150,367 | 119,593 | ||||
Average balance | 136,404 | 127,421 | 151,330 | |||
Interest income recognized | 4,675 | 5,427 | 7,817 | |||
Allowance for loan and lease losses | 189,904 | 182,837 | 179,874 | 179,046 | ||
Non-PCI Loans | Commercial | Other commercial real estate | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | [1] | (815) | ||||
Unpaid principal balance | 863 | 913 | ||||
ALLL for loans and leases individually evaluated for impairment | 289 | 112 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 305 | 112 | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 122 | 472 | ||||
Financing Receivable, Individually Evaluated for Impairment | 427 | 584 | ||||
Average balance | 481 | 2,125 | 2,658 | |||
Interest income recognized | 12 | 80 | 144 | |||
Allowance for loan and lease losses | 2,168 | 732 | 1,009 | 2,059 | ||
Non-PCI Loans | Commercial | Construction and land development | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | [1] | 5,141 | ||||
Unpaid principal balance | 4,428 | 6,945 | ||||
ALLL for loans and leases individually evaluated for impairment | 123 | 92 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,623 | 996 | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,471 | 624 | ||||
Financing Receivable, Individually Evaluated for Impairment | 3,094 | 1,620 | ||||
Average balance | 3,164 | 1,689 | 6,414 | |||
Interest income recognized | 146 | 83 | 270 | |||
Allowance for loan and lease losses | 16,288 | 11,961 | 10,335 | 6,031 | ||
Non-PCI Loans | Commercial | Mortgage | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | [1] | 27,421 | ||||
Unpaid principal balance | 103,763 | 87,702 | ||||
ALLL for loans and leases individually evaluated for impairment | 3,370 | 8,610 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 41,793 | 57,324 | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 53,314 | 25,479 | ||||
Financing Receivable, Individually Evaluated for Impairment | 95,107 | 82,803 | ||||
Average balance | 89,934 | 86,250 | 105,628 | |||
Interest income recognized | 3,129 | 3,698 | 5,702 | |||
Allowance for loan and lease losses | 69,896 | 85,189 | 100,257 | 80,229 | ||
Non-PCI Loans | Commercial | Commercial and industrial | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | [1] | 7,551 | ||||
Unpaid principal balance | 21,455 | 12,197 | ||||
ALLL for loans and leases individually evaluated for impairment | 1,118 | 1,743 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 8,544 | 10,319 | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 9,366 | 721 | ||||
Financing Receivable, Individually Evaluated for Impairment | 17,910 | 11,040 | ||||
Average balance | 14,587 | 13,433 | 12,772 | |||
Interest income recognized | 510 | 580 | 642 | |||
Allowance for loan and lease losses | 43,116 | 30,727 | 22,362 | 14,050 | ||
Non-PCI Loans | Commercial | Lease financing | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | [1] | (253) | ||||
Unpaid principal balance | 1,956 | 623 | ||||
ALLL for loans and leases individually evaluated for impairment | 213 | 150 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,651 | 319 | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 104 | 304 | ||||
Financing Receivable, Individually Evaluated for Impairment | 1,755 | 623 | ||||
Average balance | 1,718 | 774 | 350 | |||
Interest income recognized | 74 | 44 | 22 | |||
Allowance for loan and lease losses | 5,524 | 4,286 | 4,749 | 3,521 | ||
Non-PCI Loans | Commercial | Other | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | [1] | (1,288) | ||||
Unpaid principal balance | 1,260 | 2,000 | ||||
ALLL for loans and leases individually evaluated for impairment | 0 | 1,972 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 2,000 | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,183 | 0 | ||||
Financing Receivable, Individually Evaluated for Impairment | 1,183 | 2,000 | ||||
Average balance | 1,673 | 528 | 0 | |||
Interest income recognized | 37 | 29 | 0 | |||
Allowance for loan and lease losses | 1,855 | 3,184 | 190 | 1,175 | ||
Non-PCI Loans | Noncommercial | Construction and land development | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | [1] | (478) | ||||
Unpaid principal balance | 784 | 1,340 | ||||
ALLL for loans and leases individually evaluated for impairment | 49 | 71 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 693 | 1,077 | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 91 | 263 | ||||
Financing Receivable, Individually Evaluated for Impairment | 784 | 1,340 | ||||
Average balance | 829 | 1,678 | 958 | |||
Interest income recognized | 38 | 98 | 55 | |||
Allowance for loan and lease losses | 1,485 | 892 | 681 | 1,721 | ||
Non-PCI Loans | Noncommercial | Mortgage | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | [1] | 5,717 | ||||
Unpaid principal balance | 25,043 | 15,746 | ||||
ALLL for loans and leases individually evaluated for impairment | 1,212 | 1,360 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 10,097 | 10,198 | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 12,889 | 4,715 | ||||
Financing Receivable, Individually Evaluated for Impairment | 22,986 | 14,913 | ||||
Average balance | 18,524 | 15,487 | 15,470 | |||
Interest income recognized | 557 | 593 | 444 | |||
Allowance for loan and lease losses | 14,105 | 10,661 | 10,511 | 3,836 | ||
Non-PCI Loans | Noncommercial | Revolving mortgage | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | [1] | (9,838) | ||||
Unpaid principal balance | 7,120 | 4,933 | ||||
ALLL for loans and leases individually evaluated for impairment | 299 | 1,052 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,105 | 3,675 | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 4,778 | 0 | ||||
Financing Receivable, Individually Evaluated for Impairment | 5,883 | 3,675 | ||||
Average balance | 4,368 | 3,922 | 5,653 | |||
Interest income recognized | 97 | 134 | 485 | |||
Allowance for loan and lease losses | 15,971 | 18,650 | 16,239 | 25,185 | ||
Non-PCI Loans | Noncommercial | Consumer | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | [1] | (10,018) | ||||
Unpaid principal balance | 1,294 | 1,067 | ||||
ALLL for loans and leases individually evaluated for impairment | 527 | 555 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,050 | 987 | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 188 | 8 | ||||
Financing Receivable, Individually Evaluated for Impairment | 1,238 | 995 | ||||
Average balance | 1,126 | 1,535 | 1,427 | |||
Interest income recognized | 75 | 88 | 53 | |||
Allowance for loan and lease losses | 19,496 | 16,555 | 13,541 | 25,389 | ||
Non-PCI Loans | Noncommercial | Non-specific | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | [1] | (15,772) | ||||
Allowance for loan and lease losses | 0 | 0 | 0 | 15,850 | ||
PCI Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Reclassification | [1] | 0 | ||||
Acquired loans which have adverse change in expected cash flows | 469,252 | 285,636 | ||||
Allowance for loan and lease losses | 16,312 | 21,629 | 53,520 | 139,972 | ||
PCI Loans | Commercial | Other commercial real estate | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan and lease losses | 773 | 75 | 1,354 | 11,234 | ||
PCI Loans | Commercial | Construction and land development | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan and lease losses | 1,082 | 150 | 1,320 | 31,186 | ||
PCI Loans | Commercial | Mortgage | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan and lease losses | 7,838 | 10,135 | 29,906 | 50,275 | ||
PCI Loans | Commercial | Commercial and industrial | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan and lease losses | 445 | 1,240 | 5,275 | 8,897 | ||
PCI Loans | Noncommercial | Construction and land development | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan and lease losses | 0 | 183 | 682 | 8,287 | ||
PCI Loans | Noncommercial | Mortgage | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan and lease losses | 5,398 | 5,820 | 11,802 | 19,837 | ||
PCI Loans | Noncommercial | Revolving mortgage | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan and lease losses | $ 523 | $ 3,999 | $ 2,959 | $ 9,754 | ||
[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 $7.4 million of the reserve for unfunded commitments related to unfunded, revocable loan commitments into the ALLL. Further discussion is contained in Note A. |
Allowance for Loan and Lease 73
Allowance for Loan and Lease Losses (Troubled Debt Restructuring) (Details) | 12 Months Ended | |
Dec. 31, 2015USD ($)loans | Dec. 31, 2014USD ($)loans | |
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 144,843,000 | $ 151,479,000 |
Impaired Loans and Leases, Baseline for Meaurement | $ 500,000 | |
Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 372 | 248 |
Nonaccruing | $ 95,854,000 | $ 44,005,000 |
Financing Receivable, Modifications, Recorded Investment | 114,192,000 | 104,607,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 37,183,000 | $ 30,869,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 50 | 12 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 8,326,000 | $ 1,180,000 |
PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 18 | 79 |
Nonaccruing | $ 7,579,000 | $ 33,422,000 |
Financing Receivable, Modifications, Recorded Investment | 30,600,000 | 46,872,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,752,000 | $ 12,206,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 15 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 96,000 | $ 214,000 |
Commercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 104,978,000 | 118,166,000 |
Commercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 3,881,000 | 3,037,000 |
Commercial | Construction and land development | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 425,000 | 343,000 |
Commercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 84,540,000 | 101,121,000 |
Commercial | Mortgage | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 42,116,000 | 24,720,000 |
Commercial | Other commercial real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 1,840,000 | 2,823,000 |
Commercial | Other commercial real estate | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 239,000 | 619,000 |
Commercial | Commercial and industrial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 12,174,000 | 10,528,000 |
Commercial | Commercial and industrial | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 6,235,000 | 1,741,000 |
Commercial | Lease financing | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 1,360,000 | 623,000 |
Commercial | Lease financing | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 389,000 | 374,000 |
Commercial | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 1,183,000 | 34,000 |
Noncommercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 39,865,000 | 33,313,000 |
Noncommercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 784,000 | 1,391,000 |
Noncommercial | Construction and land development | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 2,164,000 | 0 |
Noncommercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 32,556,000 | 27,252,000 |
Noncommercial | Mortgage | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 29,977,000 | 14,242,000 |
Noncommercial | Other | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 133,000 | 1,966,000 |
Noncommercial | Revolving mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 5,305,000 | 3,675,000 |
Noncommercial | Revolving mortgage | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 12,704,000 | 0 |
Noncommercial | Consumer and Other | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 1,220,000 | 995,000 |
Performing Financial Instruments [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 113,296,000 | 135,963,000 |
Performing Financial Instruments [Member] | Commercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 82,394,000 | 107,305,000 |
Performing Financial Instruments [Member] | Commercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 3,624,000 | 2,591,000 |
Performing Financial Instruments [Member] | Commercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 65,812,000 | 92,184,000 |
Performing Financial Instruments [Member] | Commercial | Other commercial real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 1,751,000 | 2,374,000 |
Performing Financial Instruments [Member] | Commercial | Commercial and industrial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 8,833,000 | 9,864,000 |
Performing Financial Instruments [Member] | Commercial | Lease financing | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 1,191,000 | 258,000 |
Performing Financial Instruments [Member] | Commercial | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 1,183,000 | 34,000 |
Performing Financial Instruments [Member] | Noncommercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 30,902,000 | 28,658,000 |
Performing Financial Instruments [Member] | Noncommercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 784,000 | 1,391,000 |
Performing Financial Instruments [Member] | Noncommercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 25,427,000 | 22,597,000 |
Performing Financial Instruments [Member] | Noncommercial | Revolving mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 3,600,000 | 3,675,000 |
Performing Financial Instruments [Member] | Noncommercial | Consumer and Other | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 1,091,000 | 995,000 |
Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 31,547,000 | 15,516,000 |
Nonperforming Financial Instruments [Member] | Commercial | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 22,584,000 | 10,861,000 |
Nonperforming Financial Instruments [Member] | Commercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 257,000 | 446,000 |
Nonperforming Financial Instruments [Member] | Commercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 18,728,000 | 8,937,000 |
Nonperforming Financial Instruments [Member] | Commercial | Other commercial real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 89,000 | 449,000 |
Nonperforming Financial Instruments [Member] | Commercial | Commercial and industrial | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 3,341,000 | 664,000 |
Nonperforming Financial Instruments [Member] | Commercial | Lease financing | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 169,000 | 365,000 |
Nonperforming Financial Instruments [Member] | Commercial | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 0 | 0 |
Nonperforming Financial Instruments [Member] | Noncommercial | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 8,963,000 | 4,655,000 |
Nonperforming Financial Instruments [Member] | Noncommercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 0 | 0 |
Nonperforming Financial Instruments [Member] | Noncommercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 7,129,000 | 4,655,000 |
Nonperforming Financial Instruments [Member] | Noncommercial | Revolving mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | 1,705,000 | 0 |
Nonperforming Financial Instruments [Member] | Noncommercial | Consumer and Other | ||
Financing Receivable, Modifications [Line Items] | ||
Nonaccruing | $ 129,000 | $ 0 |
Extended Maturity [Member] | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 27 | 63 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 4,858,000 | $ 8,404,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 3 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 334,000 | $ 0 |
Extended Maturity [Member] | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 4 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 178,000 | $ 700,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 5 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 53,000 |
Extended Maturity [Member] | Commercial | Construction and land development | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 18,000 | $ 187,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 1 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 18,000 | $ 0 |
Extended Maturity [Member] | Commercial | Construction and land development | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 332,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Extended Maturity [Member] | Commercial | Mortgage | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 12 | 18 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 3,144,000 | $ 4,848,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 316,000 | $ 0 |
Extended Maturity [Member] | Commercial | Commercial and industrial | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 5 | 5 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,380,000 | $ 2,274,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Extended Maturity [Member] | Commercial | Lease financing | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 4 | 6 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 146,000 | $ 198,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Extended Maturity [Member] | Noncommercial | Construction and land development | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 7 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 226,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Extended Maturity [Member] | Noncommercial | Construction and land development | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 51,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Extended Maturity [Member] | Noncommercial | Mortgage | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 19 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 110,000 | $ 572,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Extended Maturity [Member] | Noncommercial | Mortgage | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 178,000 | $ 317,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 5 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 53,000 |
Extended Maturity [Member] | Noncommercial | Revolving mortgage | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 8,000 | $ 0 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 218 | 137 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 24,728,000 | $ 17,345,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 24 | 4 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 6,327,000 | $ 486,000 |
Interest Rate Below Market Reduction [Member] | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 14 | 47 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,187,000 | $ 9,847,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 6 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 96,000 | $ 161,000 |
Interest Rate Below Market Reduction [Member] | Commercial | Construction and land development | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 21 | 11 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 992,000 | $ 372,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 3 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 122,000 | $ 0 |
Interest Rate Below Market Reduction [Member] | Commercial | Construction and land development | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 116,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Interest Rate Below Market Reduction [Member] | Commercial | Mortgage | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 37 | 44 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 13,900,000 | $ 12,642,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 3 | 3 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 3,969,000 | $ 441,000 |
Interest Rate Below Market Reduction [Member] | Commercial | Mortgage | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 16 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 5,783,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 3 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 138,000 |
Interest Rate Below Market Reduction [Member] | Commercial | Other commercial real estate | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 2 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 122,000 | $ 337,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Interest Rate Below Market Reduction [Member] | Commercial | Commercial and industrial | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 15 | 13 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,301,000 | $ 751,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 1,619,000 | $ 0 |
Interest Rate Below Market Reduction [Member] | Noncommercial | Construction and land development | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 2 | 12 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 253,000 | $ 389,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Interest Rate Below Market Reduction [Member] | Noncommercial | Mortgage | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 116 | 41 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 5,695,000 | $ 2,444,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 14 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 607,000 | $ 45,000 |
Interest Rate Below Market Reduction [Member] | Noncommercial | Mortgage | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 14 | 29 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,187,000 | $ 3,948,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 3 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 96,000 | $ 23,000 |
Interest Rate Below Market Reduction [Member] | Noncommercial | Other | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,183,000 | $ 0 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Interest Rate Below Market Reduction [Member] | Noncommercial | Revolving mortgage | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 6 | 5 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 136,000 | $ 217,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Discharge of Debt [Member] | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 121 | 36 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 6,545,000 | $ 2,745,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 23 | 5 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 1,665,000 | $ 330,000 |
Discharge of Debt [Member] | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 3 | 26 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 387,000 | $ 1,659,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Discharge of Debt [Member] | Commercial | Construction and land development | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 4 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 38,000 | $ 0 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 1 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 3,000 | $ 0 |
Discharge of Debt [Member] | Commercial | Mortgage | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 4 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,897,000 | $ 949,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 644,000 | $ 0 |
Discharge of Debt [Member] | Noncommercial | Construction and land development | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 62,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 62,000 |
Discharge of Debt [Member] | Noncommercial | Mortgage | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 29 | 12 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,454,000 | $ 1,067,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 4 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 242,000 | $ 268,000 |
Discharge of Debt [Member] | Noncommercial | Mortgage | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 2 | 26 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 282,000 | $ 1,659,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Discharge of Debt [Member] | Noncommercial | Revolving mortgage | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 56 | 17 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,714,000 | $ 663,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 9 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 701,000 | $ 0 |
Discharge of Debt [Member] | Noncommercial | Revolving mortgage | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 105,000 | $ 0 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Principal Forgiveness [Member] | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 6 | 12 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,052,000 | $ 2,375,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 364,000 |
Principal Forgiveness [Member] | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Principal Forgiveness [Member] | Commercial | Mortgage | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 3 | 6 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 185,000 | $ 1,973,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 364,000 |
Principal Forgiveness [Member] | Commercial | Mortgage | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Principal Forgiveness [Member] | Commercial | Commercial and industrial | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 2 | 3 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 776,000 | $ 250,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Principal Forgiveness [Member] | Commercial | Lease financing | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 118,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Principal Forgiveness [Member] | Noncommercial | Construction and land development | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 91,000 | $ 0 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Principal Forgiveness [Member] | Noncommercial | Other | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 34,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Allowance for Loan and Lease 74
Allowance for Loan and Lease Losses (Note Restructurings During Period) (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015USD ($)loans | Dec. 31, 2014USD ($)loans | |
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 144,843 | $ 151,479 |
Commercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 104,978 | 118,166 |
Commercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 3,881 | 3,037 |
Commercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 84,540 | 101,121 |
Commercial | Other commercial real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 1,840 | 2,823 |
Commercial | Commercial and industrial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 12,174 | 10,528 |
Commercial | Lease financing | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 1,360 | 623 |
Commercial | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 1,183 | 34 |
Noncommercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 39,865 | 33,313 |
Noncommercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 784 | 1,391 |
Noncommercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 32,556 | 27,252 |
Noncommercial | Revolving mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 5,305 | 3,675 |
Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 114,192 | $ 104,607 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 50 | 12 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 8,326 | $ 1,180 |
Financing Receivable, Modifications, Number of Contracts | loans | 372 | 248 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 37,183 | $ 30,869 |
PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 30,600 | $ 46,872 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 15 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 96 | $ 214 |
Financing Receivable, Modifications, Number of Contracts | loans | 18 | 79 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,752 | $ 12,206 |
Principal Forgiveness [Member] | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 364 |
Financing Receivable, Modifications, Number of Contracts | loans | 6 | 12 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,052 | $ 2,375 |
Principal Forgiveness [Member] | Non-PCI Loans | Commercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 364 |
Financing Receivable, Modifications, Number of Contracts | loans | 3 | 6 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 185 | $ 1,973 |
Principal Forgiveness [Member] | Non-PCI Loans | Commercial | Commercial and industrial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 2 | 3 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 776 | $ 250 |
Principal Forgiveness [Member] | Non-PCI Loans | Commercial | Lease financing | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 118 |
Principal Forgiveness [Member] | Non-PCI Loans | Noncommercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 91 | $ 0 |
Principal Forgiveness [Member] | Non-PCI Loans | Noncommercial | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 34 |
Principal Forgiveness [Member] | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 |
Principal Forgiveness [Member] | PCI Loans | Commercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 |
Extended Maturity [Member] | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 3 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 334 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 27 | 63 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 4,858 | $ 8,404 |
Extended Maturity [Member] | Non-PCI Loans | Commercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 1 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 18 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 18 | $ 187 |
Extended Maturity [Member] | Non-PCI Loans | Commercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 316 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 12 | 18 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 3,144 | $ 4,848 |
Extended Maturity [Member] | Non-PCI Loans | Commercial | Commercial and industrial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 5 | 5 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,380 | $ 2,274 |
Extended Maturity [Member] | Non-PCI Loans | Commercial | Lease financing | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 4 | 6 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 146 | $ 198 |
Extended Maturity [Member] | Non-PCI Loans | Noncommercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 7 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 226 |
Extended Maturity [Member] | Non-PCI Loans | Noncommercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 19 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 110 | $ 572 |
Extended Maturity [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 8 | $ 0 |
Extended Maturity [Member] | Non-PCI Loans | Noncommercial | Consumer | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 1 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 3 | 6 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 52 | $ 99 |
Extended Maturity [Member] | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 5 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 53 |
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 4 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 178 | $ 700 |
Extended Maturity [Member] | PCI Loans | Commercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 332 |
Extended Maturity [Member] | PCI Loans | Noncommercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 51 |
Extended Maturity [Member] | PCI Loans | Noncommercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 5 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 53 |
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 178 | $ 317 |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 24 | 4 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 6,327 | $ 486 |
Financing Receivable, Modifications, Number of Contracts | loans | 218 | 137 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 24,728 | $ 17,345 |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | Commercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 3 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 122 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 21 | 11 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 992 | $ 372 |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | Commercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 3 | 3 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 3,969 | $ 441 |
Financing Receivable, Modifications, Number of Contracts | loans | 37 | 44 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 13,900 | $ 12,642 |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | Commercial | Other commercial real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 2 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 122 | $ 337 |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | Commercial | Commercial and industrial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 1,619 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 15 | 13 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,301 | $ 751 |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | Noncommercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 2 | 12 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 253 | $ 389 |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | Noncommercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 14 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 607 | $ 45 |
Financing Receivable, Modifications, Number of Contracts | loans | 116 | 41 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 5,695 | $ 2,444 |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 6 | 5 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 136 | $ 217 |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | Noncommercial | Consumer | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 10 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 18 | 10 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 146 | $ 193 |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | Noncommercial | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,183 | $ 0 |
Interest Rate Below Market Reduction [Member] | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 6 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 96 | $ 161 |
Financing Receivable, Modifications, Number of Contracts | loans | 14 | 47 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,187 | $ 9,847 |
Interest Rate Below Market Reduction [Member] | PCI Loans | Commercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 116 |
Interest Rate Below Market Reduction [Member] | PCI Loans | Commercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 3 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 138 |
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 16 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 5,783 |
Interest Rate Below Market Reduction [Member] | PCI Loans | Noncommercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 3 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 96 | $ 23 |
Financing Receivable, Modifications, Number of Contracts | loans | 14 | 29 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,187 | $ 3,948 |
Discharge of Debt [Member] | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 23 | 5 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 1,665 | $ 330 |
Financing Receivable, Modifications, Number of Contracts | loans | 121 | 36 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 6,545 | $ 2,745 |
Discharge of Debt [Member] | Non-PCI Loans | Commercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 1 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 3 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 4 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 38 | $ 0 |
Discharge of Debt [Member] | Non-PCI Loans | Commercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 644 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 4 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,897 | $ 949 |
Discharge of Debt [Member] | Non-PCI Loans | Noncommercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 62 |
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 62 |
Discharge of Debt [Member] | Non-PCI Loans | Noncommercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 4 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 242 | $ 268 |
Financing Receivable, Modifications, Number of Contracts | loans | 29 | 12 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,454 | $ 1,067 |
Discharge of Debt [Member] | Non-PCI Loans | Noncommercial | Commercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 3 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 146 | $ 0 |
Discharge of Debt [Member] | Non-PCI Loans | Noncommercial | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 7 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 75 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 25 | 4 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 296 | $ 4 |
Discharge of Debt [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 9 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 701 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 56 | 17 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,714 | $ 663 |
Discharge of Debt [Member] | PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 3 | 26 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 387 | $ 1,659 |
Discharge of Debt [Member] | PCI Loans | Noncommercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 2 | 26 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 282 | $ 1,659 |
Discharge of Debt [Member] | PCI Loans | Noncommercial | Revolving mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 1 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 105 | $ 0 |
Premises and Equipment (Major C
Premises and Equipment (Major Classifications) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 1,810,954 | $ 1,785,582 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 675,125 | 660,501 |
Property, Plant and Equipment, Net | 1,135,829 | 1,125,081 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 279,932 | 284,682 |
Premises and leasehold improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 1,089,644 | 1,056,126 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 441,378 | $ 444,774 |
Premises and Equipment (Operati
Premises and Equipment (Operating Leases) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Abstract] | |||
Due 2,014 | $ 18,543 | ||
Due 2,015 | 14,415 | ||
Due 2,016 | 11,017 | ||
Due 2,017 | 8,040 | ||
Due 2,018 | 5,589 | ||
Due thereafter | 43,407 | ||
Total minimum payments | 101,011 | ||
Rent expense, net | 13,800 | $ 18,500 | $ 21,400 |
Rent income | $ 6,400 | $ 2,700 | $ 1,800 |
Other Real Estate Owned (Detail
Other Real Estate Owned (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Real Estate Properties [Line Items] | ||||
Mortgage Loans in Process of Foreclosure, Amount | $ 15,600 | $ 24,800 | ||
Covered | ||||
Beginning Balance | $ 22,982 | $ 47,081 | ||
Additions | 7,357 | 29,708 | ||
Sales | (19,629) | (38,753) | ||
Writedowns | (1,478) | (10,853) | ||
Other Real Estate Covered Transfers | (2,415) | (5,537) | ||
Noncovered | ||||
Beginning balance | 70,454 | 36,898 | ||
Additions | 47,866 | 36,574 | ||
Sales | (56,853) | (48,935) | ||
Writedowns | (5,140) | (5,219) | ||
Other Real Estate Non Covered Transfers | 2,415 | 5,537 | ||
Total | ||||
Beginning balance | 93,436 | 83,979 | ||
Additions | 55,223 | 66,282 | ||
Sales | (76,482) | (87,688) | ||
Writedowns | (6,618) | (16,072) | ||
Other Real Estate Transfers | 0 | 0 | ||
Ending balance | 93,436 | 83,979 | 65,559 | 93,436 |
Bancorporation | ||||
Covered | ||||
Additions | 1,300 | |||
Noncovered | ||||
Additions | 34,000 | |||
Total | ||||
Additions | 35,300 | |||
1st Financial | ||||
Covered | ||||
Additions | 0 | |||
Noncovered | ||||
Additions | 11,600 | |||
Total | ||||
Additions | $ 11,600 | |||
Mortgage | ||||
Total | ||||
Beginning balance | 29,048 | |||
Ending balance | $ 29,048 | $ 16,071 | $ 29,048 |
FDIC Indemnification Asset (Cha
FDIC Indemnification Asset (Changes in Receivable from FDIC) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
FDIC Indemnification Asset [Roll Forward] | |||
Beginning balance | $ 28,701 | $ 93,397 | $ 270,192 |
FDIC Indemnification Asset, Acquisitions | 0 | 5,106 | 0 |
Accretion of discounts and premiums, net | (10,899) | (43,422) | (85,651) |
Receipt of payments from FDIC | 33,296 | 1,286 | (19,373) |
Post-acquisition and other adjustments, net | (47,044) | (27,666) | (71,771) |
Ending balance | $ 4,054 | $ 28,701 | $ 93,397 |
Mortgage Servicing Rights (Deta
Mortgage Servicing Rights (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Mortgage Banking [Abstract] | |||
Servicing Asset at Amortized Cost | $ 19,351,000 | $ 16,688,000 | $ 16,000 |
Deposits (Details)
Deposits (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Deposits [Abstract] | ||
FDIC Deposit Insurance Limit | $ 250,000 | |
Time Deposits Greater than $250,000, Carrying Value | 578,100,000 | $ 552,300,000 |
Deposits, by Type [Abstract] | ||
Demand | 9,274,470,000 | 8,086,784,000 |
Checking With Interest | 4,445,353,000 | 4,091,333,000 |
Money market accounts | 8,205,705,000 | 8,264,811,000 |
Savings | 1,909,021,000 | 1,728,504,000 |
Time | 3,096,206,000 | 3,507,145,000 |
Total deposits | 26,930,755,000 | $ 25,678,577,000 |
Maturities of Time Deposits [Abstract] | ||
2,014 | 2,359,710,000 | |
2,015 | 453,560,000 | |
2,016 | 114,448,000 | |
2,017 | 111,857,000 | |
2,018 | 56,631,000 | |
Thereafter | $ 0 |
Short-Term Borrowings (Details)
Short-Term Borrowings (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Short-term Debt [Line Items] | ||
Short-term borrowings | $ 594,733 | $ 987,184 |
Master Notes [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 0 | 410,258 |
Repurchase Agreements [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 592,182 | 294,426 |
Federal Home Loan Bank Advances [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 0 | 80,000 |
Maturities Of Debt | 80,000 | |
Federal Funds Purchased [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 2,551 | 2,551 |
Unsecured Debt [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Remaining Borrowing Capacity | 740,000 | |
Secured Debt [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Remaining Borrowing Capacity | 5,570,000 | |
Subordinated Debt Obligations [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 0 | $ 199,949 |
Maturities Of Debt | $ 199,900 |
Repurchase Agreements (Details)
Repurchase Agreements (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase, Gross | $ 622,182 | $ 324,426 |
Securities Sold under Agreements to Repurchase | 622,182 | 324,426 |
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | 722,000 | 418,300 |
Overnight and Continuous | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 592,182 | 294,426 |
Up to 30 Days | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 0 |
30 - 90 Days | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 0 |
Greater than 90 Days | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 30,000 | 30,000 |
Government Agency | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 4,276 | 6,914 |
Government Agency | Overnight and Continuous | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 0 |
Government Agency | Up to 30 Days | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 0 |
Government Agency | 30 - 90 Days | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 0 |
Government Agency | Greater than 90 Days | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 4,276 | 6,914 |
U. S. Treasury | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 617,906 | 186,011 |
U. S. Treasury | Overnight and Continuous | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 592,182 | 162,925 |
U. S. Treasury | Up to 30 Days | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 0 |
U. S. Treasury | 30 - 90 Days | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 0 |
U. S. Treasury | Greater than 90 Days | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 25,724 | 23,086 |
Mortgage Backed Securities, Other | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 131,501 | |
Mortgage Backed Securities, Other | Overnight and Continuous | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 131,501 | |
Mortgage Backed Securities, Other | Up to 30 Days | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | |
Mortgage Backed Securities, Other | 30 - 90 Days | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | |
Mortgage Backed Securities, Other | Greater than 90 Days | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 0 |
Long-Term Obligations (Details)
Long-Term Obligations (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2,014 | $ 3,401 | |
2,015 | 13,440 | |
2,016 | 135,232 | |
2,017 | 246 | |
2,018 | 261 | |
Thereafter | 551,575 | |
Total long-term obligations | 704,155 | $ 351,320 |
Trust Preferred Securities | 128,500 | |
Junior Subordinated Debt [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | 132,476 | |
Junior Subordinated Debt [Member] | Junior Subordinanted Debenture at 3 Month Libor Plus 1.75% Maturing June 30, 2036 [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | 96,392 | 96,392 |
Junior Subordinated Debt [Member] | Junior Subordinated Debenture At 3 Month Libor Plus 2 Point 25 Percent Maturing June 15 2034 [Member] [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | 25,774 | 26,547 |
Junior Subordinated Debt [Member] | Junior Subordinated Debenture At 3 Month Libor Plus 2 Point 85 Percent Maturing April 7 2034 [Member] [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 10,310 | 10,310 |
Subordinated Debt [Member] | Subordinated Notes Payable At 5 Point 125 Percent Maturing June 1 2015 [Member] | ||
Debt Instrument [Line Items] | ||
Debt interest rate | 5.125% | |
Subordinated Debt [Member] | Subordinated Notes Payable at 5.125% Maturing June 1, 2015 [Member] | ||
Debt Instrument [Line Items] | ||
Debt interest rate | 8.00% | |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 15,000 | 15,000 |
Capital Lease Obligations [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | 9,226 | 3,150 |
Federal Home Loan Bank Advances [Member] | Rates Ranging from 2.00% to 3.88% and Maturing Through September 2018 [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 510,252 | 160,268 |
Federal Home Loan Bank Advances [Member] | Rates Ranging from 2.00% to 3.88% and Maturing Through September 2018 [Member] | Minimum | ||
Debt Instrument [Line Items] | ||
Debt interest rate | 2.00% | |
Federal Home Loan Bank Advances [Member] | Rates Ranging from 2.00% to 3.88% and Maturing Through September 2018 [Member] | Maximum | ||
Debt Instrument [Line Items] | ||
Debt interest rate | 3.58% | |
Federal Home Loan Bank Advances [Member] | Rates Ranging from 4.74% and Maturity of July 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Debt interest rate | 4.74% | |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 10,000 | 10,000 |
Unamortized Acquisition Accounting Adjustments [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | (2,907) | (466) |
Other Long Term Debt [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 30,108 | $ 30,119 |
Libor 3 Month Rate [Member] | Junior Subordinated Debt [Member] | Junior Subordinanted Debenture at 3 Month Libor Plus 1.75% Maturing June 30, 2036 [Member] | ||
Debt Instrument [Line Items] | ||
Description of variable rate basis | 3-month LIBOR | |
Basis spread on variable rate | 1.75% | |
Libor 3 Month Rate [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debenture At 3 Month Libor Plus 2 Point 25 Percent Maturing June 15 2034 [Member] [Member] | ||
Debt Instrument [Line Items] | ||
Description of variable rate basis | 3-month LIBOR | |
Basis spread on variable rate | 2.25% | |
Libor 3 Month Rate [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debenture At 3 Month Libor Plus 2 Point 85 Percent Maturing April 7 2034 [Member] [Member] | ||
Debt Instrument [Line Items] | ||
Description of variable rate basis | 3-month LIBOR | |
Basis spread on variable rate | 2.85% |
Estimated Fair Values (Narrativ
Estimated Fair Values (Narrative) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 6,861,293 | $ 7,171,917 |
Fair value of investment securities with nonobservable inputs | 0 | 0 |
Asset transfers between Level 1 and Level 2 | 0 | 0 |
Asset transfers between Level 2 and Level 1 | 0 | 0 |
Liability transfers between Level 1 and Level 2 | 0 | 0 |
Liability transfers between Level 2 and Level 1 | 0 | 0 |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liability measured at fair value on nonrecurring basis | 0 | 0 |
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 |
Fair Value, Measurements, Recurring | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 6,861,293 | $ 7,171,917 |
Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Effective Interest Rate For Discounted Cash Flow | 2.00% | 2.00% |
Discounts for collateral value estimates due to estimated holding and selling costs (percent) | 10.00% | 10.00% |
Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Effective Interest Rate For Discounted Cash Flow | 16.00% | 16.00% |
Discounts for collateral value estimates due to estimated holding and selling costs (percent) | 14.00% | 14.00% |
Estimated Fair Values (Estimate
Estimated Fair Values (Estimated Fair Values For Certain Financial Assets And Financial Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Cash and due from banks | $ 534,086 | $ 604,182 | |||
Overnight investments | 2,063,132 | 1,724,919 | |||
Investment securities available for sale | 6,861,293 | 7,171,917 | |||
Investment securities held to maturity | 255 | 518 | |||
Loans and Leases Receivable, Net Amount | 20,033,774 | 18,564,999 | |||
FDIC Indemnification Asset | 4,054 | 28,701 | $ 93,397 | $ 270,192 | |
Income earned not collected | 70,036 | 57,254 | |||
Deposits | 26,930,755 | 25,678,577 | |||
Short-term borrowings | 594,733 | 987,184 | |||
Long-term obligations | 704,155 | 351,320 | |||
FDIC loss share payable | 126,453 | 116,535 | |||
Carrying Value | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Cash and due from banks | 534,086 | 604,182 | |||
Overnight investments | 2,063,132 | 1,724,919 | |||
Investment securities available for sale | 6,861,293 | 7,171,917 | |||
Investment securities held to maturity | 255 | 518 | |||
Loans held for sale | 59,766 | 63,696 | |||
Loans and Leases Receivable, Net Amount | 20,033,774 | 18,564,999 | |||
FDIC Indemnification Asset | [1] | 4,054 | 28,701 | ||
Income earned not collected | 70,036 | 57,254 | |||
Stock issued by Federal Home Loan Bank | 37,511 | 39,113 | |||
Servicing Asset | 19,351 | 16,688 | |||
Deposits | 26,930,755 | 25,678,577 | |||
Short-term borrowings | 594,733 | 987,184 | |||
Long-term obligations | 704,155 | 351,320 | |||
FDIC loss share payable | 126,453 | 116,535 | |||
Accrued interest payable | 5,713 | 8,194 | |||
Derivative Liability, Fair Value, Gross Liability | 1,429 | 4,337 | |||
Fair Value | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Cash and due from banks | 534,086 | 604,182 | |||
Overnight investments | 2,063,132 | 1,724,919 | |||
Investment securities available for sale | 6,861,293 | 7,171,917 | |||
Investment securities held to maturity | 265 | 544 | |||
Loans held for sale | 59,766 | 63,696 | |||
Loans and Leases Receivable, Net Amount | 19,353,325 | 18,046,497 | |||
FDIC Indemnification Asset | [1] | 4,054 | 18,218 | ||
Income earned not collected | 70,036 | 57,254 | |||
Stock issued by Federal Home Loan Bank | 37,511 | 39,113 | |||
Servicing Asset | 19,495 | 16,736 | |||
Deposits | 26,164,472 | 25,164,683 | |||
Short-term borrowings | 594,733 | 987,184 | |||
Long-term obligations | 718,102 | 367,732 | |||
FDIC loss share payable | 131,894 | 122,168 | |||
Accrued interest payable | 5,713 | 8,194 | |||
Derivative Liability, Fair Value, Gross Liability | $ 1,429 | $ 4,337 | |||
[1] | . |
Estimated Fair Values (Assets A
Estimated Fair Values (Assets And Liabilities Carried At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 6,861,293 | $ 7,171,917 |
Loans held for sale | 59,766 | 63,696 |
Fair Value, Measurements, Recurring | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 6,861,293 | 7,171,917 |
Loans held for sale | 59,766 | |
Interest rate swaps accounted for as cash flow hedges | 1,429 | 4,337 |
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 | 1,668 | 0 |
Loans held for sale | 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 | 6,859,625 | 7,171,917 |
Loans held for sale | 59,766 | |
Interest rate swaps accounted for as cash flow hedges | 1,429 | 4,337 |
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 |
Loans held for sale | 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 | 1,674,882 | 2,629,670 |
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 | 1,674,882 | 2,629,670 |
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 | 498,660 | 908,817 |
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 | 498,660 | 908,817 |
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 | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 4,668,198 | 3,633,304 |
Fair Value, Measurements, Recurring | Mortgage Backed Securities, Other | 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 | 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 | 4,668,198 | 3,633,304 |
Fair Value, Measurements, Recurring | Mortgage Backed Securities, Other | 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 | 10,660 | |
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 | |
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 | 10,660 | |
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 | |
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 | 8,893 | |
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 | 1,668 | |
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 | 7,225 | |
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 | |
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 | 126 | |
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 | |
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 | 126 | |
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 |
Estimated Fair Values Estimated
Estimated Fair Values Estimated Fair Values (Fair Value Option) (Details) - Loans Held For Sale - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ 176 | $ 202 |
Fair Value Of Items For Which Fair Value Option Was Elected Assets | 59,766 | 63,696 |
Aggregate Unpaid Principal Balance Of Items For Which Fair Value Option Was Elected Assets | 58,890 | 62,996 |
Fair Value Option Aggregate Difference Assets | $ 876 | $ 700 |
Estimated Fair Values (Assets88
Estimated Fair Values (Assets And Liabilities Carried At Fair Value On A Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Real Estate, Non Covered | $ 58,742 | $ 70,454 | $ 36,898 |
Other Real Estate, Covered | 6,817 | 22,982 | $ 47,081 |
Fair Value, Measurements, Nonrecurring | Fair Value | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans not covered by loss share agreements | 64,197 | 73,170 | |
Other Real Estate, Non Covered | 44,571 | 40,714 | |
Other Real Estate, Covered | 4,403 | 17,664 | |
Servicing Asset | 17,997 | 13,562 | |
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] | |||
Impaired loans not covered by loss share agreements | 0 | 0 | |
Other Real Estate, Non Covered | 0 | 0 | |
Other Real Estate, Covered | 0 | 0 | |
Servicing Asset | 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] | |||
Impaired loans not covered by loss share agreements | 0 | 0 | |
Other Real Estate, Non Covered | 0 | 0 | |
Other Real Estate, Covered | 0 | 0 | |
Servicing Asset | 0 | 0 | |
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans not covered by loss share agreements | 64,197 | 73,170 | |
Other Real Estate, Non Covered | 44,571 | 40,714 | |
Other Real Estate, Covered | 4,403 | 17,664 | |
Servicing Asset | $ 17,997 | $ 13,562 |
Employee Benefit Plans (Narrati
Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2007 | |
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Target Allocation Variance | 10.00% | ||||
Defined Contribution Plan, Cost Recognized | $ 16,400 | $ 14,900 | |||
Employer contributions | $ 30,000 | ||||
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage | 100.00% | ||||
BancShares Plan | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Actual % of Plan Assets | 100.00% | 100.00% | 100.00% | ||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 536,956 | $ 533,125 | $ 536,956 | ||
Employer contributions | $ 30,000 | $ 0 | |||
Assumed discount rate (percent) | 4.27% | 4.90% | 4.00% | ||
Assumed rate of salary increases | 4.00% | 4.00% | 4.00% | ||
Expected long-term rate of return on plan assets (percent) | 7.50% | 7.50% | 7.25% | ||
Bancorporation Plan | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Curtailments | $ 2,076 | $ 0 | |||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 136,425 | $ 131,879 | $ 136,425 | ||
Assumed discount rate (percent) | 4.27% | 4.35% | |||
Assumed rate of salary increases | 4.00% | 4.00% | |||
Expected long-term rate of return on plan assets (percent) | 7.50% | 7.50% | |||
Bancorporation Plan | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Contribution Plan, Cost Recognized | $ 1,100 | ||||
Percent of employer match | 100.00% | ||||
Percentage of employee compensation matched | 6.00% | ||||
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage | 100.00% | ||||
Employee profit sharing contribution percentage | 3.00% | ||||
BancShares Plan | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Contribution Plan, Cost Recognized | $ 22,600 | ||||
Percent of employer match | 75.00% | 100.00% | |||
Percentage of employee compensation matched | 6.00% | 6.00% | |||
Additional contribution if employed at end of year | 3.00% | ||||
401(k) Matching Range 2 | Bancorporation Plan | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Percent of employer match | 50.00% | ||||
Percentage of employee compensation matched | 3.00% | ||||
401(k) Matching Range 1 | Bancorporation Plan | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Percent of employer match | 100.00% | ||||
Percentage of employee compensation matched | 3.00% |
Employee Benefit Plans (Funded
Employee Benefit Plans (Funded Status Of Plans) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Employer contributions | $ 30,000 | ||
BancShares Plan | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at January 1 | 627,645 | $ 530,678 | |
Service cost | 14,083 | 12,332 | $ 16,332 |
Interest cost | 26,975 | 25,615 | 23,686 |
Actuarial (gain) loss | (39,002) | 76,122 | |
Benefits paid | (18,199) | (17,102) | |
Benefit obligation at December 31 | 611,502 | 627,645 | 530,678 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value of plan assets, beginning balance | 544,956 | 524,017 | |
Actual return on plan assets | (6,732) | 38,041 | |
Employer contributions | 30,000 | 0 | |
Benefits paid | (18,199) | (17,102) | |
Fair value of plan assets, ending balance | 550,025 | 544,956 | 524,017 |
Funded status | (61,477) | (82,689) | |
Bancorporation Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Curtailments | (2,076) | 0 | |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at January 1 | 151,332 | 137,452 | |
Service cost | 3,341 | 832 | |
Interest cost | 6,393 | 1,488 | |
Actuarial (gain) loss | (10,937) | 12,802 | |
Benefits paid | (4,812) | (1,242) | |
Benefit obligation at December 31 | 143,241 | 151,332 | 137,452 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value of plan assets, beginning balance | 155,618 | 0 | |
Actual return on plan assets | 87 | 6,486 | |
Benefits paid | (4,812) | (1,242) | |
Fair value of plan assets, ending balance | 150,893 | 155,618 | $ 0 |
Funded status | $ 7,652 | $ 4,286 |
Employee Benefit Plans (Amounts
Employee Benefit Plans (Amounts Recognized in the Financial Statements) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Bancorporation Plan | ||
Amounts recognized in the consolidated balance sheets | ||
Other assets | $ 0 | $ 0 |
Other liabilities | 7,652 | 4,286 |
Net asset (liability) recognized | 7,652 | 4,286 |
Amount recognized in accumulated other comprehensive income | ||
Net loss (gain) | 7,505 | 9,123 |
Less prior service cost | 0 | 0 |
Accumulated other comprehensive loss, excluding income taxes | 7,505 | 9,123 |
BancShares Plan | ||
Amounts recognized in the consolidated balance sheets | ||
Other assets | 0 | 0 |
Other liabilities | (61,477) | (82,689) |
Net asset (liability) recognized | (61,477) | (82,689) |
Amount recognized in accumulated other comprehensive income | ||
Net loss (gain) | 70,358 | 80,806 |
Less prior service cost | 556 | 767 |
Accumulated other comprehensive loss, excluding income taxes | 70,914 | $ 81,573 |
Actuarial loss | 6,398 | |
Prior service cost | 210 | |
Total | $ 6,608 |
Employee Benefit Plans (Net Ben
Employee Benefit Plans (Net Benefit Cost) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Total change in pension obligation, net of tax | $ 11,586 | $ 5,358 | $ 17,195 |
BancShares Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Service cost | 14,083 | 12,332 | 16,332 |
Interest cost | 26,975 | 25,615 | 23,686 |
Expected return on assets | (33,198) | (31,269) | (27,733) |
Amortization of prior service cost | (210) | (210) | (210) |
Amortization of net actuarial loss | 11,376 | 5,148 | 16,985 |
Total pension expense | 19,446 | 12,036 | 29,480 |
Current year actuarial gain (loss) | (927) | (69,349) | 123,557 |
Total change in pension obligation, net of tax | (10,659) | 63,991 | (140,752) |
Total recognized in net periodic benefit cost and other comprehensive income | 8,787 | 76,027 | $ (111,272) |
Bancorporation Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Service cost | 3,341 | 832 | |
Interest cost | 6,393 | 1,488 | |
Expected return on assets | (11,482) | (2,807) | |
Defined Benefit Plan, Curtailments | (2,076) | 0 | |
Total pension expense | (1,748) | (487) | |
Current year actuarial gain (loss) | (458) | (9,123) | |
Total change in pension obligation, net of tax | (1,618) | 9,123 | |
Total recognized in net periodic benefit cost and other comprehensive income | $ (3,366) | $ 8,636 |
Employee Benefit Plans (Assumpt
Employee Benefit Plans (Assumptions Used) (Details) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
BancShares Plan | |||
Assumptions used to determine the benefit obligations | |||
Discount rate | 4.68% | 4.27% | |
Rate of compensation increase | 4.00% | 4.00% | |
Assumptions used to determine net periodic benefit cost | |||
Discount rate | 4.27% | 4.90% | 4.00% |
Rate of compensation increase | 4.00% | 4.00% | 4.00% |
Expected long-term rate of return on plan assets (percent) | 7.50% | 7.50% | 7.25% |
Bancorporation Plan | |||
Assumptions used to determine the benefit obligations | |||
Discount rate | 4.68% | 4.27% | |
Rate of compensation increase | 4.00% | 4.00% | |
Assumptions used to determine net periodic benefit cost | |||
Discount rate | 4.27% | 4.35% | |
Rate of compensation increase | 4.00% | 4.00% | |
Expected long-term rate of return on plan assets (percent) | 7.50% | 7.50% |
Employee Benefit Plans (Fair Va
Employee Benefit Plans (Fair Value and Allocation Of Plan Assets) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Oct. 01, 2014 | Dec. 31, 2013 | |
BancShares Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 550,025 | $ 544,956 | $ 524,017 | |
Actual % of Plan Assets | 100.00% | 100.00% | ||
BancShares Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 550,025 | $ 544,956 | ||
BancShares Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 469,647 | 391,028 | ||
BancShares Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 80,378 | 153,928 | ||
BancShares Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | 0 | ||
Bancorporation Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 150,893 | 155,618 | $ 150,374 | $ 0 |
Bancorporation Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 150,893 | 155,618 | ||
Bancorporation Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 126,392 | 143,938 | ||
Bancorporation Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 24,501 | 11,680 | ||
Bancorporation Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 0 | $ 0 | ||
Cash and equivalents | BancShares Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Actual % of Plan Assets | 5.00% | 1.00% | ||
Cash and equivalents | BancShares Plan | Minimum | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation | 0.00% | 0.00% | ||
Cash and equivalents | BancShares Plan | Maximum | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation | 1.00% | 1.00% | ||
Cash and equivalents | BancShares Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 26,613 | $ 3,854 | ||
Cash and equivalents | BancShares Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 26,613 | 3,854 | ||
Cash and equivalents | BancShares Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | 0 | ||
Cash and equivalents | BancShares Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 0 | $ 0 | ||
Cash and equivalents | Bancorporation Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Actual % of Plan Assets | 8.90% | 8.40% | ||
Cash and equivalents | Bancorporation Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 13,437 | $ 13,077 | ||
Cash and equivalents | Bancorporation Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 13,437 | 13,077 | ||
Cash and equivalents | Bancorporation Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | 0 | ||
Cash and equivalents | Bancorporation Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 0 | $ 0 | ||
Equity Securities | BancShares Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Actual % of Plan Assets | 63.00% | 62.00% | ||
Equity Securities | BancShares Plan | Minimum | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation | 55.00% | 55.00% | ||
Equity Securities | BancShares Plan | Maximum | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation | 65.00% | 65.00% | ||
Equity Securities | BancShares Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 267,037 | $ 284,656 | ||
Equity Securities | BancShares Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 267,037 | 284,656 | ||
Equity Securities | BancShares Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | 0 | ||
Equity Securities | BancShares Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 0 | $ 0 | ||
Equity Securities | Bancorporation Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation | 60.00% | |||
Actual % of Plan Assets | 63.00% | 69.00% | ||
Equity Securities | Bancorporation Plan | Maximum | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation | 70.00% | |||
Equity Securities | Bancorporation Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 80,676 | $ 101,540 | ||
Equity Securities | Bancorporation Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 80,676 | 101,540 | ||
Equity Securities | Bancorporation Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | 0 | ||
Equity Securities | Bancorporation Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 0 | $ 0 | ||
Debt Securities | BancShares Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Actual % of Plan Assets | 26.00% | 28.00% | ||
Debt Securities | BancShares Plan | Minimum | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation | 25.00% | 25.00% | ||
Debt Securities | BancShares Plan | Maximum | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation | 40.00% | 40.00% | ||
Debt Securities | Bancorporation Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Actual % of Plan Assets | 22.00% | 23.00% | ||
Equity mutual funds | BancShares Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 78,645 | $ 52,379 | ||
Equity mutual funds | BancShares Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 78,645 | 52,379 | ||
Equity mutual funds | BancShares Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | 0 | ||
Equity mutual funds | BancShares Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | 0 | ||
Equity mutual funds | Bancorporation Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 15,005 | 5,793 | ||
Equity mutual funds | Bancorporation Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 15,005 | 5,793 | ||
Equity mutual funds | Bancorporation Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | 0 | ||
Equity mutual funds | Bancorporation Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | 0 | ||
US government and government agency securities | BancShares Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 58,526 | 23,528 | ||
US government and government agency securities | BancShares Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 48,957 | 23,528 | ||
US government and government agency securities | BancShares Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 9,569 | 0 | ||
US government and government agency securities | BancShares Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | 0 | ||
US government and government agency securities | Bancorporation Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 20,476 | |||
US government and government agency securities | Bancorporation Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 3,986 | |||
US government and government agency securities | Bancorporation Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 16,490 | |||
US government and government agency securities | Bancorporation Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | |||
Corporate Bonds | BancShares Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 70,809 | |||
Corporate Bonds | BancShares Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | |||
Corporate Bonds | BancShares Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 70,809 | |||
Corporate Bonds | BancShares Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | |||
Corporate Bonds | Bancorporation Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 8,011 | 11,680 | ||
Corporate Bonds | Bancorporation Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | 0 | ||
Corporate Bonds | Bancorporation Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 8,011 | 11,680 | ||
Corporate Bonds | Bancorporation Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | 0 | ||
Fixed Income Mutual Funds | BancShares Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 17,351 | 153,928 | ||
Fixed Income Mutual Funds | BancShares Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 17,351 | 0 | ||
Fixed Income Mutual Funds | BancShares Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | 153,928 | ||
Fixed Income Mutual Funds | BancShares Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | $ 0 | ||
Fixed Income Mutual Funds | Bancorporation Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 4,198 | |||
Fixed Income Mutual Funds | Bancorporation Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 4,198 | |||
Fixed Income Mutual Funds | Bancorporation Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | |||
Fixed Income Mutual Funds | Bancorporation Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 0 | |||
Alternative investments | BancShares Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Actual % of Plan Assets | 6.00% | 9.00% | ||
Alternative investments | BancShares Plan | Minimum | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation | 0.00% | 0.00% | ||
Alternative investments | BancShares Plan | Maximum | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation | 10.00% | 8.00% | ||
Alternative investments | BancShares Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 31,044 | $ 50,139 | ||
Alternative investments | BancShares Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 31,044 | 50,139 | ||
Alternative investments | BancShares Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | 0 | ||
Alternative investments | BancShares Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 0 | $ 0 | ||
Alternative investments | Bancorporation Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Actual % of Plan Assets | 6.00% | |||
Defined Benefit Plan, Target Allocation Percentage | 0.05 | |||
Alternative investments | Bancorporation Plan | Fair Value | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 9,090 | |||
Alternative investments | Bancorporation Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 9,090 | |||
Alternative investments | Bancorporation Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | 0 | |||
Alternative investments | Bancorporation Plan | Fair Value, Inputs, Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets | $ 0 | |||
Fixed Income And Cash | Bancorporation Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target Allocation | 35.00% |
Employee Benefit Plans (Project
Employee Benefit Plans (Projected Benefit Payments) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | $ 30,000 | |
BancShares Plan | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Accumulated Benefit Obligation | 533,125 | $ 536,956 |
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | 30,000 | 0 |
2,014 | 21,607 | |
2,015 | 23,268 | |
2,016 | 24,895 | |
2,017 | 26,450 | |
2,018 | 28,207 | |
2019-2023 | 166,567 | |
Bancorporation Plan | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Accumulated Benefit Obligation | 131,879 | $ 136,425 |
2,014 | 5,463 | |
2,015 | 5,969 | |
2,016 | 6,420 | |
2,017 | 6,791 | |
2,018 | 7,209 | |
2019-2023 | $ 43,671 |
Employee Benefit Plans (Present
Employee Benefit Plans (Present Value of Accrued Liability) (Details) - Executives Directors And Officer Of Acquired Entities [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Present Value Of Accrued Liability [Roll Forward] | ||
Present value of accrued liability as of January 1 | $ 43,211 | $ 23,960 |
Executive compensation liability acquired from 1st Financial | 0 | 1,455 |
Executive compensation liability acquired from Bancorporation | 0 | 17,333 |
Benefit expense | 1,386 | 2,682 |
Benefits paid | (4,485) | (2,219) |
Benefits forfeited | (234) | 0 |
Present value of accrued liability as of December 31 | $ 39,878 | $ 43,211 |
Other Noninterest Income and 97
Other Noninterest Income and Other Noninterest Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Income | $ 36,359 | $ 29,277 | $ 49,749 |
Other Noninterest Expense | 269,858 | 210,629 | 193,014 |
PCI Loans | |||
Other Operating Cost and Expense [Line Items] | |||
Proceeds from Recoveries of Loans Previously Charged off | 21,200 | 16,200 | 29,700 |
Telecommunication | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 14,406 | 10,834 | 10,033 |
Cardholder Reward Programs | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 11,069 | 8,252 | 6,266 |
Processing Fees Paid To Third Parties | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 18,779 | 17,089 | 15,095 |
Cardholder Processing | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 21,735 | 15,133 | 13,780 |
Merchant Processing | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 58,231 | 42,661 | 35,279 |
Collection | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 9,649 | 11,595 | 21,209 |
Consultant | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 8,925 | 10,168 | 9,740 |
Core Deposit Intangible Amortization [Member] | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 18,892 | 6,955 | 2,308 |
Advertising | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 12,431 | 11,461 | 8,286 |
Other Expense | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | $ 95,741 | $ 76,481 | $ 71,018 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Current tax expense | |||
Federal | $ 105,367 | $ 84,430 | $ 46,848 |
State | 16,111 | 13,941 | 7,080 |
Total current tax expense | 121,478 | 98,371 | 53,928 |
Deferred Income Tax Expense (Benefit) | |||
Federal | (2,758) | (30,658) | 38,731 |
State | 3,308 | (2,681) | 8,915 |
Total deferred tax expense (benefit) | 550 | (33,339) | 47,646 |
Total income tax expense | $ 122,028 | 65,032 | 101,574 |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | |||
Federal statutory rate | 35.00% | ||
Income taxes at statutory rates | $ 116,345 | 71,258 | 93,956 |
Nontaxable income on loans, leases and investments, net of nondeductible expenses | (3,020) | (1,832) | (1,185) |
State and local income taxes, including change in valuation allowance, net of federal income tax benefit | 12,622 | 7,319 | 10,397 |
Effective Income Tax Rate Reconciliation, Acquisition Stock Settlement, Amount | 0 | (10,185) | 0 |
Tax credits | (3,060) | (2,896) | (960) |
Other, net | (859) | 1,368 | (634) |
Total income tax expense | 122,028 | 65,032 | $ 101,574 |
Deferred Tax Assets, Net [Abstract] | |||
Allowance for loan and lease losses | 78,878 | 79,537 | |
Pension liability | 7,206 | 17,147 | |
Executive separation from service agreements | 9,856 | 13,753 | |
State operating loss carryforwards | 21 | 29 | |
Unrealized loss on cash flow hedge | 537 | 1,673 | |
Net unrealized loss on securities included in accumulated other comprehensive loss | 9,379 | 0 | |
Deferred Tax Assets, Property, Plant and Equipment | 13,195 | 3,495 | |
Deferred Tax Assets, FDIC-Assisted Transaction Timing Differences, Amount | 66,456 | 77,388 | |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Reserves | 10,772 | 12,770 | |
Other | 29,279 | 26,788 | |
Gross deferred tax asset | 225,579 | 232,580 | |
Lease financing activities | 15,492 | 12,706 | |
Net unrealized gain on securities included in accumulated other comprehensive loss | 0 | 3,245 | |
Net deferred loan fees and costs | 6,051 | 4,532 | |
Intangible assets | 2,040 | 7,789 | |
Deferred Tax Liability, Mark to Market Section 475, Amount | 31,486 | 40,910 | |
Other | 12,026 | 13,287 | |
Deferred tax liability | 67,095 | 82,469 | |
Net deferred tax assets | $ 158,484 | $ 150,111 |
Transactions with Related Per99
Transactions with Related Persons (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Related Party Transaction [Line Items] | |||
Loans Sold In Branch Sale | $ 8,700 | ||
Deposits Sold In Branch Sale | 31,200 | ||
Deposit Premium On Deposits Sold Inc Branch Sale | 301 | ||
Payments For Branch Sale | 22,200 | ||
Gain On Sale Of Branch | 216 | ||
Loans and Leases Receivable, Related Parties [Roll Forward] | |||
Beginning balance | 1,045 | $ 1,825 | |
New loans | 5 | 39 | |
Repayments | (971) | (819) | |
Ending balance | 79 | 1,045 | $ 1,825 |
Unfunded loan commitments available to related parties | 1,400 | 1,300 | |
Revenue from related parties | 100 | 17,200 | 21,600 |
Revenue from largest individual institution related parties | $ 100 | 16,800 | $ 20,400 |
Investment Securities Available For Sale Related Parties | 25,000 | ||
Investment Cost Related Parties | $ 23,000 |
Derivatives (Narrative) (Detail
Derivatives (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Derivative [Line Items] | |||
Fair value of collateral pledged to secure interest rate contracts | $ 2,017 | $ 7,000 | |
Incremental interest expense paid to interest rate swap counterparties | 3,294 | $ 3,321 | $ 3,281 |
Interest Rate Swap | |||
Derivative [Line Items] | |||
Gain (loss) expected to be reclassified in next 12 months | (1,136) | ||
2011 Interest Rate Swap | |||
Derivative [Line Items] | |||
Notional amount of interest rate derivatives | $ 93,500 | ||
Fixed rate payments, interest rate | 5.50% | 5.50% | 5.50% |
Variable rate payment rate | 1.75% | 1.75% | 1.75% |
Derivatives (Schedule Of Intere
Derivatives (Schedule Of Interest Rate Swaps) (Details) - 2011 Interest Rate Swap - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Derivative [Line Items] | ||
Estimated fair value of liability | $ 1,429 | $ 4,337 |
Derivative, Notional Amount | $ 93,500 | $ 93,500 |
Goodwill and Intangible Asse102
Goodwill and Intangible Assets (Details) | Oct. 02, 2014USD ($) | Jan. 02, 2014USD ($) | Dec. 31, 2015USD ($)$ / loansRate | Dec. 31, 2014USD ($)$ / loansRate | Dec. 31, 2013USD ($) |
Servicing Asset at Amortized Cost [Line Items] | |||||
Servicing Asset at Amortized Cost | $ 19,351,000 | $ 16,688,000 | $ 16,000 | ||
Servicing Asset at Amortized Cost, Additions | 5,910,000 | 727,000 | |||
Valuation Allowance for Impairment of Recognized Servicing Assets, Balance | 95,000 | 850,000 | 0 | ||
Residential Mortgage Loans Serviced | $ 2,150,000,000 | $ 1,950,000,000 | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | Rate | 11.01% | 14.25% | |||
Contractually Specified Servicing Fees, Late Fees, and Ancillary Fees Earned in Exchange for Servicing Financial Assets | $ 5,400,000 | $ 600,000 | 300,000 | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Cost to Service Loans | $ / loans | 56,610 | 56,020 | |||
Amortization | $ (4,002,000) | $ (919,000) | (205,000) | ||
Goodwill [Roll Forward] | |||||
Beginning goodwill | $ 102,625,000 | 139,773,000 | 102,625,000 | ||
Ending goodwill | 139,773,000 | 139,773,000 | 102,625,000 | ||
Finite-lived Intangible Assets [Roll Forward] | |||||
Beginning balance | 106,610,000 | ||||
Finite Lived Intangible Assets Removed Due To Branch Sale | (85,000) | 0 | |||
Amortization | (18,892,000) | (6,955,000) | |||
Ending balance | 90,986,000 | 106,610,000 | |||
Finite-Lived Intangible Assets [Abstract] | |||||
Gross balance | 115,201,000 | 114,596,000 | |||
Accumulated amortization | (43,566,000) | (24,674,000) | |||
Carrying value | 71,635,000 | 89,922,000 | |||
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |||||
2,015 | 16,440,000 | ||||
2,016 | 14,075,000 | ||||
2,017 | 11,710,000 | ||||
2,018 | 9,457,000 | ||||
2,019 | 7,492,000 | ||||
Other Intangible Assets, Net | 71,635,000 | 89,922,000 | $ 1,247,000 | ||
Valuation Allowance for Impairment of Recognized Servicing Assets, Provisions (Recoveries) | 755,000 | (850,000) | |||
Capitol City Bank and Trust | |||||
Finite-lived Intangible Assets [Roll Forward] | |||||
Intangible assets acquired | 690,000 | 0 | |||
1st Financial | |||||
Servicing Asset at Amortized Cost [Line Items] | |||||
Finite-Lived Core Deposits, Gross | 3,800,000 | ||||
Servicing Asset at Fair Value, Additions | 0 | 148,000 | |||
Goodwill [Roll Forward] | |||||
Goodwill acquired | $ 32,915,000 | $ 0 | 32,915,000 | ||
Useful life | 3 months | ||||
Finite-lived Intangible Assets [Roll Forward] | |||||
Intangible assets acquired | $ 0 | 3,780,000 | |||
Bancorporation | |||||
Servicing Asset at Amortized Cost [Line Items] | |||||
Finite-Lived Core Deposits, Gross | 91,900,000 | ||||
Servicing Asset at Fair Value, Additions | 0 | 17,566,000 | |||
Goodwill [Roll Forward] | |||||
Goodwill acquired | $ 4,233,000 | $ 0 | 4,233,000 | ||
Useful life | 5 years 6 months | ||||
Finite-lived Intangible Assets [Roll Forward] | |||||
Intangible assets acquired | $ 0 | $ 91,850,000 | |||
Conventional fixed loans | |||||
Servicing Asset at Amortized Cost [Line Items] | |||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | Rate | 9.31% | 7.20% | |||
All loans and leases excluding conventional fixed loans [Member] | |||||
Servicing Asset at Amortized Cost [Line Items] | |||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | Rate | 10.31% | 9.20% | |||
Core deposits | Minimum | |||||
Goodwill [Roll Forward] | |||||
Useful life | 2 years | ||||
Core deposits | Maximum | |||||
Goodwill [Roll Forward] | |||||
Useful life | 9 years |
Shareholders' Equity, Divide103
Shareholders' Equity, Dividends Restrictions and Other Regulatory Matters (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015USD ($)voteshares | Dec. 31, 2014USD ($)shares | Dec. 31, 2013USD ($) | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Trust Preferred Securities included in Tier 1 capital | $ 32,100 | $ 128,500 | |
Capital required for common equity Tier 1 capital to risk-weighted assets | 4.50% | ||
Tier 1 Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | ||
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | ||
Leverage Capital Required Ratio To Tangible Assets | 4.00% | ||
Percent Of Trust Preferred Securities Excluded From Tier One Starting In 2013 | 75.00% | ||
Remaining Percent of Trust Preferred Securities Excluded from Tier One After 2015 | 25.00% | ||
Tier 2 capital | $ 6,000 | $ 9,000 | |
Subordinated Debt, Annual Tier 2 Discount Percentage | 20.00% | ||
Maximum Undivided Profits Elgible For Dividend Payment Without Changing Well Capitalized Status | $ 902,600 | ||
Average Required Maintence Of Non Interst Bearing Reserve Balance | $ 531,600 | ||
Capital Conservation Buffer, Annual Percentage Increase | 0.625% | ||
Capital Conservation Buffer | 2.50% | ||
Common Class A [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Votes per share of common stock | vote | 1 | ||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | shares | 100,000 | ||
Stock Repurchased During Period, Shares | shares | 167,600 | ||
Class B Common Stock | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Votes per share of common stock | vote | 16 | ||
Stock Repurchased and Retired During Period, Shares | shares | 0 | 45,900 | |
Parent | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Dividend Income, Banking Subsidiaries | $ 75,006 | $ 82,419 | $ 131,006 |
BancShares [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Tier 1 Capital for Capital Adequacy | 2,831,242 | 2,690,324 | |
Capital Required for Capital Adequacy | 3,140,212 | 2,904,123 | |
Leverage Capital Required for Capital Adequacy | $ 2,831,242 | $ 2,690,324 | |
Tier 1 Risk Based Capital to Risk Weighted Assets | 12.65% | 13.61% | |
Capital to Risk Weighted Assets | 14.03% | 14.69% | |
Leverage Capital to Average Assets | 8.96% | 8.91% | |
Tier 1 Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | 6.00% | |
Common equity Tier 1 | $ 2,799,163 | ||
Common equity Tier 1 to risk-weighted assets | 12.50965% | ||
Common equity Tier 1 required to be well capitalized to risk-weighted assets | 6.50% | ||
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-SC [Member] [Domain] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Tier 1 Capital for Capital Adequacy | $ 653,515 | ||
Capital Required for Capital Adequacy | 657,475 | ||
Leverage Capital Required for Capital Adequacy | $ 653,515 | ||
Tier 1 Risk Based Capital to Risk Weighted Assets | 15.11% | ||
Capital to Risk Weighted Assets | 15.20% | ||
Leverage Capital to Average Assets | 7.89% | ||
Tier 1 Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.00% | ||
Capital Required to be Well Capitalized | 10.00% | ||
Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | ||
FCB [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Tier 1 Capital for Capital Adequacy | $ 2,821,475 | $ 2,019,595 | |
Capital Required for Capital Adequacy | 3,038,070 | 2,212,163 | |
Leverage Capital Required for Capital Adequacy | $ 2,821,475 | $ 2,019,595 | |
Tier 1 Risk Based Capital to Risk Weighted Assets | 12.64% | 13.12% | |
Capital to Risk Weighted Assets | 13.61% | 14.37% | |
Leverage Capital to Average Assets | 8.95% | 9.30% | |
Tier 1 Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | 6.00% | |
Common equity Tier 1 | $ 2,821,475 | ||
Common equity Tier 1 to risk-weighted assets | 12.63988% | ||
Common equity Tier 1 required to be well capitalized to risk-weighted assets | 6.50% | ||
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] | Parent | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Dividends from subsidiaries | $ 75,006 | $ 30,000 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Guarantor Obligations [Line Items] | ||||
Amortization Method Qualified Affordable Housing Project Investments | $ 85,600 | $ 57,100 | ||
FDIC loss share receivable | 4,054 | 28,701 | $ 93,397 | $ 270,192 |
FDIC loss share payable | 126,453 | 116,535 | ||
Commitments to Extend Credit | ||||
Guarantor Obligations [Line Items] | ||||
Unused Commitments to Extend Credit | 7,950,000 | 7,190,000 | ||
Affordable Housing Program Obligation | 41,800 | 16,800 | ||
Standby Letters of Credit | ||||
Guarantor Obligations [Line Items] | ||||
Guarantor obligations amount | $ 77,939 | 77,374 | ||
Recourse Obligation on Mortgage Loans Sold | ||||
Guarantor Obligations [Line Items] | ||||
Recourse Period, Maximum1 | 120 days | |||
Obligation to Repurchase Receivables Sold | ||||
Guarantor Obligations [Line Items] | ||||
Reserve for estimated losses arising from repurchase of loans | $ 3,000 | $ 3,203 |
Accumulated Other Comprehens105
Accumulated Other Comprehensive Loss (Schedule Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |||
Accumulated Other Comprehensive Income (Loss), before Tax | $ (104,352) | $ (86,690) | |||
Long-term obligations | 924,905 | 710,097 | $ 740,186 | ||
Deferred tax expense (benefit) | (39,912) | (33,709) | |||
Accumulated other comprehensive income (loss), net of tax | (64,440) | (52,981) | (25,268) | ||
Income taxes | (122,028) | (65,032) | (101,574) | ||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | [1] | 81 | 14,598 | ||
Securities gains (losses) | 10,817 | 29,096 | 0 | ||
Unrealized Gains on Investment Securities Available for Sale | |||||
Accumulated Other Comprehensive Income (Loss), before Tax | (24,504) | 8,343 | |||
Deferred tax expense (benefit) | (9,379) | 3,245 | |||
Accumulated other comprehensive income (loss), net of tax | [2] | (15,125) | 5,098 | (10,091) | |
Income taxes | [1] | (4,138) | (11,224) | ||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | [1],[2] | 6,679 | 17,872 | ||
Securities gains (losses) | [1] | 10,817 | 29,096 | ||
Funded Status of Defined Benefit Plan | |||||
Accumulated Other Comprehensive Income (Loss), before Tax | (78,419) | (90,696) | |||
Deferred tax expense (benefit) | (29,996) | (35,281) | |||
Accumulated other comprehensive income (loss), net of tax | [2] | (48,423) | (55,415) | (10,743) | |
Income taxes | [1] | 4,988 | 2,084 | ||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | [1],[2] | (6,598) | (3,274) | ||
Employee Benefits, prior service costs | [1] | (210) | (210) | ||
Reclassification adjustment for losses included in income before income taxes | [1] | (11,376) | (5,148) | ||
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, before Tax | (11,586) | (5,358) | [1] | ||
Unrealized Loss on Cash Flow Hedges | |||||
Accumulated Other Comprehensive Income (Loss), before Tax | (1,429) | (4,337) | |||
Deferred tax expense (benefit) | (537) | (1,673) | |||
Accumulated other comprehensive income (loss), net of tax | [2] | (892) | (2,664) | $ (4,434) | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | [2] | $ 0 | $ 0 | ||
[1] | (Dollars in thousands) Year ended December 31, 2015Details about accumulated other comprehensive income (loss) Amount reclassified from accumulated other comprehensive income (loss)(1) Affected line item in the statement where net income is presentedUnrealized gains and losses on available for sale securities $10,817 Securities gains (4,138) Income taxes $6,679 Net income Amortization of defined benefit pension items Prior service costs $(210) Employee benefitsActuarial losses (11,376) Employee benefits (11,586) Employee benefits 4,988 Income taxes $(6,598) Net incomeTotal reclassifications for the period $81 Year ended December 31, 2014Details about accumulated other comprehensive income (loss) Amount reclassified from accumulated other comprehensive income (loss)(1) Affected line item in the statement where net income is presentedUnrealized gains and losses on available for sale securities $29,096 Securities gains (11,224) Income taxes $17,872 Net income Amortization of defined benefit pension items Prior service costs $(210) Employee benefitsActuarial losses (5,148) Employee benefits (5,358) Employee benefits 2,084 Income taxes $(3,274) Net incomeTotal reclassifications for the period $14,598 (1) Amounts in parentheses indicate debits to profit/loss. | ||||
[2] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Accumulated Other Comprehens106
Accumulated Other Comprehensive Loss (Components of AOCI) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | $ (52,981) | $ (25,268) | ||
Other comprehensive income (loss) before reclassifications | (11,378) | (13,115) | ||
Amounts reclassified from accumulated other comprehensive (loss) income | [1] | (81) | (14,598) | |
Net current period other comprehensive (loss) income | (11,459) | (27,713) | $ 56,838 | |
Ending balance | (64,440) | (52,981) | (25,268) | |
Unrealized Loss on Cash Flow Hedges | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | [2] | (2,664) | (4,434) | |
Other comprehensive income (loss) before reclassifications | [2] | 1,772 | 1,770 | |
Amounts reclassified from accumulated other comprehensive (loss) income | [2] | 0 | 0 | |
Net current period other comprehensive (loss) income | [2] | 1,772 | 1,770 | |
Ending balance | [2] | (892) | (2,664) | (4,434) |
Unrealized Gains on Investment Securities Available for Sale | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | [2] | 5,098 | (10,091) | |
Other comprehensive income (loss) before reclassifications | [2] | (13,544) | 33,061 | |
Amounts reclassified from accumulated other comprehensive (loss) income | [1],[2] | (6,679) | (17,872) | |
Net current period other comprehensive (loss) income | [2] | (20,223) | 15,189 | |
Ending balance | [2] | (15,125) | 5,098 | (10,091) |
Defined Benefit Pension Items | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | [2] | (55,415) | (10,743) | |
Other comprehensive income (loss) before reclassifications | [2] | 394 | (47,946) | |
Amounts reclassified from accumulated other comprehensive (loss) income | [1],[2] | 6,598 | 3,274 | |
Net current period other comprehensive (loss) income | [2] | 6,992 | (44,672) | |
Ending balance | [2] | $ (48,423) | $ (55,415) | $ (10,743) |
[1] | (Dollars in thousands) Year ended December 31, 2015Details about accumulated other comprehensive income (loss) Amount reclassified from accumulated other comprehensive income (loss)(1) Affected line item in the statement where net income is presentedUnrealized gains and losses on available for sale securities $10,817 Securities gains (4,138) Income taxes $6,679 Net income Amortization of defined benefit pension items Prior service costs $(210) Employee benefitsActuarial losses (11,376) Employee benefits (11,586) Employee benefits 4,988 Income taxes $(6,598) Net incomeTotal reclassifications for the period $81 Year ended December 31, 2014Details about accumulated other comprehensive income (loss) Amount reclassified from accumulated other comprehensive income (loss)(1) Affected line item in the statement where net income is presentedUnrealized gains and losses on available for sale securities $29,096 Securities gains (11,224) Income taxes $17,872 Net income Amortization of defined benefit pension items Prior service costs $(210) Employee benefitsActuarial losses (5,148) Employee benefits (5,358) Employee benefits 2,084 Income taxes $(3,274) Net incomeTotal reclassifications for the period $14,598 (1) Amounts in parentheses indicate debits to profit/loss. | |||
[2] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Accumulated Other Comprehens107
Accumulated Other Comprehensive Loss (Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Long-term obligations | $ 924,905 | $ 710,097 | $ 740,186 | ||
Securities gains (losses) | 10,817 | 29,096 | 0 | ||
Income taxes | (122,028) | (65,032) | $ (101,574) | ||
Amounts reclassified from accumulated other comprehensive income, net of tax | [1] | (81) | (14,598) | ||
Unrealized Loss on Cash Flow Hedges | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Amounts reclassified from accumulated other comprehensive income, net of tax | [2] | 0 | 0 | ||
Unrealized Gains on Investment Securities Available for Sale | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Securities gains (losses) | [1] | 10,817 | 29,096 | ||
Income taxes | [1] | (4,138) | (11,224) | ||
Amounts reclassified from accumulated other comprehensive income, net of tax | [1],[2] | (6,679) | (17,872) | ||
Defined Benefit Pension Items | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Employee Benefits, prior service costs | [1] | (210) | (210) | ||
Reclassification adjustment for losses included in income before income taxes | [1] | (11,376) | (5,148) | ||
Total before taxes | (11,586) | (5,358) | [1] | ||
Income taxes | [1] | 4,988 | 2,084 | ||
Amounts reclassified from accumulated other comprehensive income, net of tax | [1],[2] | $ 6,598 | $ 3,274 | ||
[1] | (Dollars in thousands) Year ended December 31, 2015Details about accumulated other comprehensive income (loss) Amount reclassified from accumulated other comprehensive income (loss)(1) Affected line item in the statement where net income is presentedUnrealized gains and losses on available for sale securities $10,817 Securities gains (4,138) Income taxes $6,679 Net income Amortization of defined benefit pension items Prior service costs $(210) Employee benefitsActuarial losses (11,376) Employee benefits (11,586) Employee benefits 4,988 Income taxes $(6,598) Net incomeTotal reclassifications for the period $81 Year ended December 31, 2014Details about accumulated other comprehensive income (loss) Amount reclassified from accumulated other comprehensive income (loss)(1) Affected line item in the statement where net income is presentedUnrealized gains and losses on available for sale securities $29,096 Securities gains (11,224) Income taxes $17,872 Net income Amortization of defined benefit pension items Prior service costs $(210) Employee benefitsActuarial losses (5,148) Employee benefits (5,358) Employee benefits 2,084 Income taxes $(3,274) Net incomeTotal reclassifications for the period $14,598 (1) Amounts in parentheses indicate debits to profit/loss. | ||||
[2] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Parent Company Financial Sta108
Parent Company Financial Statements (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Assets | ||||
Investment securities | $ 6,861,293,000 | $ 7,171,917,000 | ||
Other assets | 417,391,000 | 394,027,000 | ||
Total assets | 31,475,934,000 | 30,075,113,000 | ||
Liabilities and Shareholders' Equity | ||||
Short-term borrowings | 594,733,000 | 987,184,000 | ||
Long-term obligations | 704,155,000 | 351,320,000 | ||
Other liabilities | 247,729,000 | 253,903,000 | ||
Stockholders' equity | 2,872,109,000 | 2,687,594,000 | $ 2,071,462,000 | $ 1,859,624,000 |
Total liabilities and shareholders' equity | 31,475,934,000 | 30,075,113,000 | ||
Income Statement [Abstract] | ||||
Interest expense | 44,304,000 | 50,351,000 | 56,618,000 | |
Net interest income (loss) | 924,905,000 | 710,097,000 | 740,186,000 | |
Income tax benefit | 122,028,000 | 65,032,000 | 101,574,000 | |
Net income | 210,386,000 | 138,562,000 | 166,869,000 | |
OPERATING ACTIVITIES | ||||
Net income | 210,386,000 | 138,562,000 | 166,869,000 | |
Net amortization of premiums and accretion of discounts | (85,066,000) | (48,374,000) | (112,759,000) | |
Gain on elimination of acquired debt | 0 | (1,988,000) | 0 | |
Securities (gains) losses | (10,817,000) | (29,096,000) | 0 | |
Gain on sale of other assets | 0 | 0 | (4,085,000) | |
Other than temporary impairment on securities | 0 | |||
Change in other assets | (12,904,000) | (72,680,000) | 100,437,000 | |
Change in other liabilities | 14,458,000 | 1,319,000 | 49,177,000 | |
INVESTING ACTIVITIES | ||||
Net change in short-term borrowings | (397,952,000) | (25,321,000) | (57,087,000) | |
Retirement of long-term obligations | (5,896,000) | (54,301,000) | (4,152,000) | |
Stock issuance costs | 0 | (619,000) | 0 | |
Repurchase of common stock | 0 | 0 | (321,000) | |
Cash dividends paid | (18,015,000) | (11,543,000) | (8,663,000) | |
Net change in cash | (70,096,000) | 70,583,000 | (106,131,000) | |
Cash and due from banks at beginning of period | 604,182,000 | 533,599,000 | 639,730,000 | |
Cash and due from banks at end of period | 534,086,000 | 604,182,000 | 533,599,000 | |
Cash payments for | ||||
Interest | 46,785,000 | 48,894,000 | 59,234,000 | |
Income taxes | 136,900,000 | 127,970,000 | 102,890,000 | |
Parent | ||||
Assets | ||||
Cash | 26,285,000 | 24,026,000 | ||
Investment securities | 21,137,000 | 110,644,000 | ||
Investment in Banking Subsidiaries | 2,874,581,000 | 2,750,201,000 | ||
Investment in Other Subsidiaries | 43,117,000 | 65,665,000 | ||
Due from subsidiaries | 0 | 295,994,000 | ||
Other assets | 73,944,000 | 74,157,000 | ||
Total assets | 3,039,064,000 | 3,320,687,000 | ||
Liabilities and Shareholders' Equity | ||||
Short-term borrowings | 0 | 485,207,000 | ||
Long-term obligations | 133,775,000 | 136,717,000 | ||
Due to Affiliate | 29,682,000 | 0 | ||
Other liabilities | 3,498,000 | 11,169,000 | ||
Stockholders' equity | 2,872,109,000 | 2,687,594,000 | ||
Total liabilities and shareholders' equity | 3,039,064,000 | 3,320,687,000 | ||
Income Statement [Abstract] | ||||
Interest income | 645,000 | 1,784,000 | 1,387,000 | |
Interest expense | 6,793,000 | 9,694,000 | 7,065,000 | |
Net interest income (loss) | (6,148,000) | (7,910,000) | (5,678,000) | |
Dividend Income, Banking Subsidiaries | 75,006,000 | 82,419,000 | 131,006,000 | |
Dividends from subsidiaries | 23,500,000 | 0 | 0 | |
Other income (loss) | 1,870,000 | 33,600,000 | 3,620,000 | |
Other operating expense | 2,634,000 | 6,534,000 | 2,344,000 | |
Income before income tax benefit and equity in undistributed net income of subsidiaries | 91,594,000 | 101,575,000 | 126,604,000 | |
Income tax benefit | (2,618,000) | (2,590,000) | (2,095,000) | |
Income before equity in undistributed net income of subsidiaries | 94,212,000 | 104,165,000 | 128,699,000 | |
Excess distributions (undistributed ) net income of subsidiaries | (116,174,000) | (34,397,000) | (38,170,000) | |
Net income | 210,386,000 | 138,562,000 | 166,869,000 | |
OPERATING ACTIVITIES | ||||
Net income | 210,386,000 | 138,562,000 | 166,869,000 | |
Excess distributions (undistributed ) net income of subsidiaries | (116,174,000) | (34,397,000) | (38,170,000) | |
Net amortization of premiums and accretion of discounts | (2,712,000) | 594,000 | 334,000 | |
Gain on elimination of acquired debt | 0 | (1,988,000) | 0 | |
Securities (gains) losses | (236,000) | (29,126,000) | 0 | |
Gain on sale of other assets | 0 | 0 | (1,331,000) | |
Change in other assets | (3,070,000) | 93,385,000 | (61,704,000) | |
Change in other liabilities | (1,157,000) | 2,250,000 | (2,096,000) | |
Net cash provided by (Used in) Operating Activities | 87,037,000 | 169,280,000 | 63,902,000 | |
INVESTING ACTIVITIES | ||||
Net change in due from subsidiaries | 295,994,000 | (150,328,000) | (67,154,000) | |
Purchases of investment securities | (7,818,000) | (33,243,000) | (126,197,000) | |
Maturities and sales of investment securities | 100,586,000 | 114,208,000 | 135,000,000 | |
Investment in subsidiaries | 0 | 1,579,000 | 1,489,000 | |
Business acquisitions, net of cash acquired | 0 | (24,772,000) | 0 | |
Net Cash Provided by (Used in) Investing Activities | 388,762,000 | (92,556,000) | (56,862,000) | |
Change in Due to Subsidiaries | 29,682,000 | 0 | 0 | |
Net change in short-term borrowings | (485,207,000) | (1,211,000) | 12,860,000 | |
Retirement of long-term obligations | 0 | (52,372,000) | 0 | |
Stock issuance costs | 0 | (619,000) | 0 | |
Repurchase of common stock | 0 | 0 | (321,000) | |
Cash dividends paid | (18,015,000) | (11,543,000) | (8,663,000) | |
Net cash used by financing activities | (473,540,000) | (65,745,000) | 3,876,000 | |
Net change in cash | 2,259,000 | 10,979,000 | 10,916,000 | |
Cash and due from banks at beginning of period | 24,026,000 | 13,047,000 | 2,131,000 | |
Cash and due from banks at end of period | $ 26,285,000 | $ 24,026,000 | $ 13,047,000 |