Document_and_Entity_Informatio
Document and Entity Information Document | 9 Months Ended | |
Sep. 30, 2013 | Nov. 01, 2013 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'BOSTON PRIVATE FINANCIAL HOLDINGS INC | ' |
Entity Central Index Key | '0000821127 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 79,823,366 |
Consolidated_Balance_Sheets_St
Consolidated Balance Sheets Statement (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Cash and cash equivalents | $323,941 | $308,744 |
Investment securities available for sale (amortized cost of $704,968 and $690,556 at September 30, 2013 and December 31, 2012, respectively) | 702,944 | 699,300 |
Loans held for sale | 1,745 | 308,390 |
Total loans | 4,922,222 | 4,814,136 |
Less: Allowance for loan losses | 77,177 | 84,057 |
Net loans | 4,845,045 | 4,730,079 |
Other real estate owned (“OREOâ€) | 776 | 3,616 |
Stock in Federal Home Loan Banks | 39,715 | 41,981 |
Premises and equipment, net | 29,319 | 27,081 |
Goodwill | 110,180 | 110,180 |
Intangible assets, net | 21,656 | 24,874 |
Fees receivable | 10,653 | 8,836 |
Accrued interest receivable | 13,442 | 14,723 |
Deferred income taxes, net | 60,853 | 62,245 |
Other assets | 114,670 | 124,956 |
Total assets | 6,274,939 | 6,465,005 |
Liabilities: | ' | ' |
Deposits | 4,942,765 | 4,885,059 |
Deposits held for sale | 0 | 194,084 |
Securities sold under agreements to repurchase | 92,499 | 116,319 |
Federal Home Loan Bank borrowings | 391,466 | 408,121 |
Junior subordinated debentures | 110,487 | 143,647 |
Other liabilities | 97,461 | 95,386 |
Total liabilities | 5,634,678 | 5,842,616 |
Redeemable Noncontrolling Interests | 17,224 | 19,287 |
Stockholders’ Equity: | ' | ' |
Preferred stock, $1.00 par value; authorized: 2,000,000 shares | 47,753 | 58,089 |
Common stock, $1.00 par value; authorized: 170,000,000 shares; issued and outstanding: 79,821,898 shares at September 30, 2013 and 78,743,518 shares at December 31, 2012 | 79,822 | 78,744 |
Additional paid-in capital | 623,485 | 640,891 |
Accumulated deficit | -123,879 | -176,746 |
Accumulated other comprehensive income/ (loss) | -4,283 | 2,124 |
Total Company's shareholders’ equity | 622,898 | 603,102 |
Noncontrolling interests | 139 | 0 |
Total shareholders' equity | 623,037 | 603,102 |
Total liabilities, redeemable noncontrolling interests and shareholders’ equity | $6,274,939 | $6,465,005 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets Parentheticals (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Investment securities available for sale at amortized cost | $704,968 | $690,556 |
Preferred Stock, Par or Stated Value Per Share | $1 | $1 |
Preferred Stock, Shares Authorized | 2,000,000 | 2,000,000 |
Common Stock, Par or Stated Value Per Share | $1 | $1 |
Common Stock, Shares Authorized | 170,000,000 | 170,000,000 |
Common Stock, Shares, Issued | 79,821,898 | 78,743,518 |
Common Stock, Shares, Outstanding | 79,821,898 | 78,743,518 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Interest and dividend income: | ' | ' | ' | ' | ||||
Loans | $46,484 | $52,533 | $144,173 | $157,882 | ||||
Taxable investment securities | 548 | 890 | 1,555 | 3,225 | ||||
Non-taxable investment securities | 746 | 782 | 2,363 | 2,382 | ||||
Mortgage-backed securities | 1,338 | 1,537 | 4,080 | 4,743 | ||||
Federal funds sold and other | 273 | 290 | 624 | 511 | ||||
Total interest and dividend income | 49,389 | 56,032 | 152,795 | 168,743 | ||||
Interest expense: | ' | ' | ' | ' | ||||
Deposits | 3,206 | 4,206 | 10,112 | 13,544 | ||||
Federal Home Loan Bank borrowings | 2,750 | 3,501 | 8,399 | 11,193 | ||||
Junior subordinated debentures | 1,119 | 1,507 | 3,429 | 4,950 | ||||
Repurchase agreements and other short-term borrowings | 12 | 452 | 378 | 1,326 | ||||
Total interest expense | 7,087 | 9,666 | 22,318 | 31,013 | ||||
Net interest income | 42,302 | 46,366 | 130,477 | 137,730 | ||||
Provision/ (credit) for loan losses | -6,000 | -4,000 | -8,000 | 1,700 | ||||
Net interest income after provision for loan losses | 48,302 | 50,366 | 138,477 | 136,030 | ||||
Fees and other income: | ' | ' | ' | ' | ||||
Investment Advisory, Management and Administrative Fees | 17,019 | 15,906 | 51,227 | 46,628 | ||||
Wealth advisory fees | 10,698 | 9,495 | 31,083 | 27,914 | ||||
Other banking fee income | 1,679 | 1,547 | 5,181 | 4,209 | ||||
Gain on sale of loans, net | 430 | 648 | 2,363 | 1,499 | ||||
Gain on repurchase of debt | 0 | 976 | 620 | 2,570 | ||||
Gain on sale of investments, net | 7 | 25 | 35 | 878 | ||||
Gain/(loss) on OREO, net | 0 | -104 | -13 | 221 | ||||
Gain on sale of Pacific Northwest offices | 0 | 0 | 10,574 | 0 | ||||
Other | 261 | 111 | 476 | 148 | ||||
Total fees and other income | 30,094 | 28,604 | 101,546 | 84,067 | ||||
Operating expense: | ' | ' | ' | ' | ||||
Salaries and employee benefits | 33,102 | 34,688 | 104,605 | 106,071 | ||||
Occupancy and equipment | 7,302 | 8,078 | 22,399 | 23,274 | ||||
Professional services | 3,451 | 3,455 | 8,697 | 9,415 | ||||
Marketing and business development | 1,201 | 1,346 | 5,417 | 4,454 | ||||
Contract services and data processing | 1,462 | 1,446 | 4,514 | 3,989 | ||||
Amortization of intangibles | 1,056 | 1,082 | 3,275 | 3,263 | ||||
FDIC insurance | 823 | 1,138 | 2,817 | 2,969 | ||||
Restructuring expense | 0 | 3,581 | 0 | 4,280 | ||||
Other | 3,556 | 3,336 | 13,481 | 11,397 | ||||
Total operating expense | 51,953 | 58,150 | 165,205 | 169,112 | ||||
Income before income taxes | 26,443 | 20,820 | 74,818 | 50,985 | ||||
Income tax expense | 8,557 | 5,124 | 25,005 | 14,215 | ||||
Net income from continuing operations | 17,886 | 15,696 | 49,813 | 36,770 | ||||
Net income from discontinued operations | 1,321 | 1,672 | 5,824 | 5,816 | ||||
Net income before attrubution to noncontrolling interests | 19,207 | 17,368 | 55,637 | 42,586 | ||||
Less: Net income attributable to noncontrolling interests | 871 | 855 | 2,770 | 2,407 | ||||
Net income attributable to the Company | 18,336 | 16,513 | 52,867 | 40,179 | ||||
Adjustments to net income attributable to the Company to arrive at net income/(loss) attributable to common shareholders | -825 | -2,067 | -14,968 | -4,582 | ||||
Net income attributable to common shareholders for earnings/ (loss) per share calculation | $17,511 | $14,446 | $37,899 | $35,597 | ||||
Basic earnings/(loss) per share attributable to common shareholders: | ' | ' | ' | ' | ||||
From continuing operations: | $0.21 | $0.17 | $0.42 | $0.40 | ||||
From discontinued operations: | $0.02 | $0.02 | $0.07 | $0.07 | ||||
Total attributable to common shareholders: | $0.23 | $0.19 | $0.49 | $0.47 | ||||
Diluted earnings/(loss) per share attributable to common shareholders: | ' | ' | ' | ' | ||||
From continuing operations: | $0.20 | $0.17 | $0.41 | $0.39 | ||||
From discontinued operations: | $0.02 | $0.02 | $0.07 | $0.07 | ||||
Total attributable to common shareholders: | $0.22 | $0.19 | $0.48 | $0.46 | ||||
Common Stock [Member] | ' | ' | ' | ' | ||||
Basic earnings/(loss) per share attributable to common shareholders: | ' | ' | ' | ' | ||||
Weighted average basic common shares outstanding | 77,670,017 | 76,290,382 | 77,249,660 | 75,911,520 | ||||
Diluted earnings/(loss) per share attributable to common shareholders: | ' | ' | ' | ' | ||||
Weighted average diluted common shares outstanding | 79,193,748 | [1] | 77,367,611 | [1] | 78,488,170 | [1] | 76,814,203 | [1] |
[1] | The diluted EPS computations for the three and nine months ended September 30, 2013 and 2012 do not assume the conversion, exercise, or contingent issuance of the following shares for these periods because the result would have been anti-dilutive for the periods indicated. As a result of the anti-dilution, the potential common shares excluded from the diluted EPS computation are as follows: Three months ended September 30, Nine months ended September 30, 2013 2012 2013 2012Shares excluded due to anti-dilution (treasury method):(In thousands)Potential common shares from: Convertible trust preferred securities (a)1 784 1 784Total shares excluded due to anti-dilution1 784 1 784 Three months ended September 30, Nine months ended September 30, 2013 2012 2013 2012Shares excluded due to exercise price exceeding the average market price of common shares during the period (total outstanding):(In thousands)Potential common shares from: Stock options or other dilutive securities (b)1,214 2,102 1,446 2,180Total shares excluded due to exercise price exceeding the average market price of common shares during the period1,214 2,102 1,446 2,180(a) If the effect of the conversion of the trust preferred securities would have been dilutive, interest expense, net of tax, related to the convertible trust preferred securities of $0.2 million and $0.8 million for the three and nine months ended September 30, 2012, respectively, would have been added back to net income attributable to common shareholders for diluted EPS computations for the period presented. None would be added back for the three or nine months ended September 30, 2013.(b)Options to purchase shares of common stock and other dilutive securities that were outstanding at period ends were not included in the computation of diluted EPS or in the above anti-dilution table because their exercise or conversion prices were greater than the average market price of the common shares during the respective periods. |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Document Fiscal Year Focus | ' | ' | '2013 | ' |
Net income attributable to the Company | $18,336 | $16,513 | $52,867 | $40,179 |
Unrealized gain/ (loss) on securities available for sale | -550 | 675 | -6,521 | 836 |
Reclassification adjustment for net realized gain/ (loss) included in net income | 4 | 14 | 20 | 560 |
Adjustment for sale of discontinued operations | 0 | 0 | 0 | -23 |
Net unrealized gain/ (loss) on securities available for sale | -554 | 661 | -6,541 | 299 |
Unrealized gain/ (loss) on cash flow hedges | -964 | -366 | -280 | -881 |
Reclassification adjustment for net realized gain/ (loss) included in net income | -316 | -253 | -856 | -746 |
Net change in unrealized gain/ (loss) on cash flow hedges | -648 | -113 | 576 | -135 |
Net unrealized gain/ (loss) on other | 0 | 2 | -442 | -138 |
Other comprehensive income/ (loss), net of tax | -1,202 | 550 | -6,407 | 26 |
Total comprehensive income/ (loss), attributable to the Company, net | $17,134 | $17,063 | $46,460 | $40,205 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock [Member] | Preferred Stock Including Additional Paid in Capital [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] |
In Thousands, unless otherwise specified | |||||||
Beginning Balance at Dec. 31, 2011 | $566,125 | $78,023 | $58,089 | $656,436 | ($230,017) | $3,594 | $0 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to the Company | 40,179 | 0 | 0 | 0 | 40,179 | 0 | 0 |
Other comprehensive income/ (loss), net of tax | 26 | 0 | 0 | 0 | 0 | 26 | 0 |
Dividends paid to common shareholders | 2,344 | 0 | 0 | 2,344 | 0 | 0 | 0 |
Dividends paid to preferred shareholders | 218 | 0 | 0 | 218 | 0 | 0 | 0 |
Repurchase of Carlyle warrants and Director's warrants | -15,000 | 0 | 0 | -15,000 | 0 | 0 | 0 |
Net proceeds from issuance of: | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock | 1,215 | 194 | 0 | 1,021 | 0 | 0 | 0 |
Shares through incentive stock grants, net of cancellations and forfeitures | 0 | 626 | 0 | -626 | 0 | 0 | 0 |
Amortization of stock compensation and employee stock purchase plan | 5,832 | 0 | 0 | 5,832 | 0 | 0 | 0 |
Stock options exercised | 603 | 87 | 0 | 516 | 0 | 0 | 0 |
Tax deficiency from certain stock compensation awards | -1,098 | 0 | 0 | -1,098 | 0 | 0 | 0 |
Other equity adjustments | 282 | 0 | 0 | 282 | 0 | 0 | 0 |
Ending Balance at Sep. 30, 2012 | 595,602 | 78,930 | 58,089 | 644,801 | -189,838 | 3,620 | 0 |
Beginning Balance at Dec. 31, 2012 | 603,102 | 78,744 | 58,089 | 640,891 | -176,746 | 2,124 | 0 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to the Company | 52,867 | 0 | 0 | 0 | 52,867 | 0 | 0 |
Other comprehensive income/ (loss), net of tax | -6,407 | 0 | 0 | 0 | 0 | -6,407 | 0 |
Dividends paid to common shareholders | 13,542 | 0 | 0 | 13,542 | 0 | 0 | 0 |
Dividends paid to preferred shareholders | 1,792 | 0 | 0 | 1,792 | 0 | 0 | 0 |
Repurchase of Non-Cumulative Perpetual Contingent Convertible Preferred Stock, Series B | -69,827 | 0 | -58,089 | -11,738 | 0 | 0 | 0 |
Issuance of 6.95% Non-Cumulative Perpetual Preferred Stock, Series D, net of issuance costs | 47,753 | 0 | 47,753 | 0 | 0 | 0 | 0 |
Issuance of noncontrolling interests | 139 | 0 | 0 | 0 | 0 | 0 | 139 |
Net proceeds from issuance of: | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock | 1,230 | 157 | 0 | 1,073 | 0 | 0 | 0 |
Shares through incentive stock grants, net of cancellations and forfeitures | 0 | 638 | 0 | -638 | 0 | 0 | 0 |
Amortization of stock compensation and employee stock purchase plan | 5,282 | 0 | 0 | 5,282 | 0 | 0 | 0 |
Stock options exercised | 2,127 | 283 | 0 | 1,844 | 0 | 0 | 0 |
Tax deficiency from certain stock compensation awards | -597 | 0 | 0 | -597 | 0 | 0 | 0 |
Other equity adjustments | 2,702 | 0 | 0 | 2,702 | 0 | 0 | 0 |
Ending Balance at Sep. 30, 2013 | $623,037 | $79,822 | $47,753 | $623,485 | ($123,879) | ($4,283) | $139 |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity Parentheticals (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Shares of common stock issued | 156,983 | 193,517 |
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 677,620 | 626,414 |
Common Stock, Dividends, Per Share, Cash Paid | $0.17 | $0.03 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net income attributable to the Company | $52,867 | $40,179 |
Adjustments to arrive at net income from continuing operations [Abstract] | ' | ' |
Net Income Attributable to Noncontrolling Interest | 2,770 | 2,407 |
(Income) Before Tax of Discontinued Operations Not Including Gain on Disposal | -10,353 | -6,778 |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | 0 | 221 |
Discontinued Operation, Tax Effect of Discontinued Operation | 4,529 | 1,183 |
Net income/(loss) from continuing operations | 49,813 | 36,770 |
Adjustments to reconcile net income/(loss) from continuing operations to net cash provided by/(used in) operating activities: | ' | ' |
Depreciation and amortization | 14,715 | 14,403 |
Net income/ (loss) attributable to noncontrolling interests | -2,770 | -2,407 |
Equity issued as compensation | 5,282 | 5,832 |
Provision for loan losses | -8,000 | 1,700 |
Loans originated for sale | -205,085 | -144,024 |
Proceeds from sale of loans held for sale | 232,114 | 146,730 |
Gain on repurchase of debt | -620 | -2,570 |
Gain on sale of Pacific Northwest offices | -10,574 | 0 |
Deferred income tax expense/ (benefit) | 4,931 | 2,465 |
Net decrease/(increase) in other operating activities | 9,350 | -1,485 |
Net cash provided by/(used in) operating activities of continuing operations | 89,156 | 57,414 |
Net cash provided by/(used in) operating activities of discontinued operations | 5,824 | -5,161 |
Net cash provided by/(used in) operating activities | 94,980 | 52,253 |
Investment securities available for sale: | ' | ' |
Purchases | -211,450 | -274,894 |
Sales | 3,472 | 49,323 |
Maturities, redemptions, and principal payments | 188,100 | 311,245 |
(Investments)/distributions in trusts, net | 169 | -691 |
(Purchase)/ redemption of Federal Home Loan Banks stock | 2,266 | 828 |
Net (increase)/ decrease in portfolio loans | -119,349 | -456,026 |
Proceeds from recoveries of loans previously charged-off | 5,406 | 6,473 |
Proceeds from sale of OREO | 2,455 | 3,275 |
Proceeds from sale of portfolio loans | 9,449 | 0 |
Proceeds from sale of Pacific Northwest offices | 123,693 | 0 |
Capital expenditures | -6,895 | -4,522 |
Cash received from sale of discontinued operations | 0 | 5,218 |
Cash used in other investing activities | 224 | 0 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | -2,908 | -359,771 |
Cash Provided by (Used in) Investing Activities, Discontinued Operations | 0 | -21 |
Net cash provided by/(used in) investing activities | -2,908 | -359,792 |
Cash flows from financing activities: | ' | ' |
Net increase/ (decrease) in deposits, including deposits held for sale | 31,776 | 132,383 |
Net (decrease)/ increase in securities sold under agreements to repurchase | -23,820 | -24,078 |
Net (decrease)/increase in federal funds purchased | 0 | 85,000 |
Net (decrease)/increase in short-term Federal Home Loan Bank borrowings | -40,000 | 130,000 |
Advances of long-term Federal Home Loan Bank borrowings | 120,000 | 30,000 |
Repayments of long-term Federal Home Loan Bank borrowings | -96,655 | -128,881 |
Repurchase of debt | -31,536 | -20,094 |
Dividends paid to common stockholders | -13,542 | -2,344 |
Dividends paid to preferred stockholders | -1,792 | -218 |
Proceeds from Issuance of Preferred Stock and Preference Stock | 47,753 | 0 |
Payments for Repurchase of Preferred Stock and Preference Stock | -69,827 | 0 |
Repurchase of Warrants | 0 | -15,000 |
Tax deficiency from certain stock compensation awards | -597 | -1,098 |
Proceeds from stock option exercises | 2,127 | 603 |
Proceeds from issuance of common stock, net | 1,230 | 1,215 |
Distributions paid to noncontrolling interests | -2,341 | ' |
Other equity adjustments | 349 | 282 |
Net cash provided by/ (used in) financing activities of continuing operations | -76,875 | 187,770 |
Net cash provided by (used in) financing activities of discontinued operations | 0 | 0 |
Net cash provided by/(used in) financing activities | -76,875 | 187,770 |
Net increase/(decrease) in cash and cash equivalents | 15,197 | -119,769 |
Cash and cash equivalents at beginning of year | 308,744 | 203,354 |
Cash and cash equivalents at end of period | 323,941 | 83,585 |
Supplementary schedule of non-cash investing and financing activities: | ' | ' |
Cash paid for interest | 22,533 | 31,984 |
Cash paid for income taxes, net of (refunds received) | 25,261 | 12,473 |
Net unrealized gain/ (loss) on securities available for sale | -6,541 | 299 |
Net unrealized gain/ (loss) on cash flow hedges | 576 | -135 |
Net unrealized gain/ (loss) on other | -442 | -138 |
Loans transferred into other real estate owned from held for sale or portfolio | -372 | 1,137 |
Loans transferred into/(out of) held for sale from/(to) portfolio | $5,593 | $124,375 |
Basis_of_Presentation_and_Summ
Basis of Presentation and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Presentation and Significant Accounting Policies [Text Block] | ' |
Basis of Presentation and Summary of Significant Accounting Policies | |
Boston Private Financial Holdings, Inc. (the “Company” or “BPFH”), is a bank holding company with three reportable segments: Private Banking, Investment Management, and Wealth Advisory. | |
Boston Private Bank & Trust Company (the “Bank” or “Boston Private Bank”) is a trust company chartered by The Commonwealth of Massachusetts, insured by the Federal Deposit Insurance Corporation (the “FDIC”), and a wholly-owned subsidiary of the Company. In December 2012, the Bank entered into a definitive agreement to sell its three offices in the Pacific Northwest market. The sale was completed in May 2013. Boston Private Bank currently operates in three geographic markets: New England, San Francisco Bay, and Southern California. | |
The Investment Management segment has two consolidated affiliates, consisting of Dalton, Greiner, Hartman, Maher & Co., LLC (“DGHM”) and Anchor Capital Advisors, LLC (“Anchor”) (together, the “Investment Managers”), both of which are registered investment advisers. Effective January 1, 2013, Anchor/Russell Capital Advisors LLC (“Anchor Russell”) merged into Anchor, with Anchor as the surviving entity. Anchor Capital Holdings, LLC, the former holding company of Anchor and Anchor Russell, which was dissolved upon the merger of Anchor and Anchor Russell, has been reinstated but will remain a pass through entity with no operations. It will continue to be disregarded for tax purposes. | |
The Wealth Advisory segment has two consolidated affiliates, consisting of KLS Professional Advisors Group, LLC (“KLS”) and Bingham, Osborn & Scarborough, LLC (“BOS”) (together, the “Wealth Advisors”). In the second quarter of 2012, the Company sold its affiliate Davidson Trust Company (“DTC”). Accordingly, prior period financial information related to DTC is included with discontinued operations. | |
The Company conducts substantially all of its business through its three reportable segments. All significant intercompany accounts and transactions have been eliminated in consolidation. | |
The unaudited interim consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), and include all necessary adjustments of a normal recurring nature which, in the opinion of management, are required for a fair presentation of the results of operations and financial condition of the Company. The interim results of consolidated operations are not necessarily indicative of the results for the entire year. | |
The information in this report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Annual Report on Form 10-K for the year ended December 31, 2012, as filed with the Securities and Exchange Commission (“SEC”). Prior period amounts are reclassified whenever necessary to conform to the current period presentation. | |
The Company’s significant accounting policies are described in Part II. Item 8. “Financial Statements and Supplementary Data - Note 1: Basis of Presentation and Summary of Significant Accounting Policies” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012, as filed with the SEC. For interim reporting purposes, the Company follows the same significant accounting policies. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings Per Share [Text Block] | ' | |||||||||||||||
Earnings Per Share | ||||||||||||||||
The two class method of calculating earnings per share (“EPS”) is presented below for the three and nine months ended September 30, 2013 and 2012. The following tables present the computations of basic and diluted EPS: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands, except share and per share data) | ||||||||||||||||
Basic earnings/ (loss) per share - Numerator: | ||||||||||||||||
Net income from continuing operations | $ | 17,886 | $ | 15,696 | $ | 49,813 | $ | 36,770 | ||||||||
Less: Net income attributable to noncontrolling interests | 871 | 855 | 2,770 | 2,407 | ||||||||||||
Net income from continuing operations attributable to the Company | 17,015 | 14,841 | 47,043 | 34,363 | ||||||||||||
Decrease/ (increase) in noncontrolling interests’ redemption values (1) | 274 | (344 | ) | 162 | (267 | ) | ||||||||||
Dividends on participating securities (2) | (939 | ) | (91 | ) | (13,752 | ) | (275 | ) | ||||||||
Total adjustments to income attributable to common shareholders | (665 | ) | (435 | ) | (13,590 | ) | (542 | ) | ||||||||
Net income from continuing operations attributable to common shareholders, before allocation to participating securities | 16,350 | 14,406 | 33,453 | 33,821 | ||||||||||||
Less: Amount allocated to participating securities | (143 | ) | (1,454 | ) | (1,069 | ) | (3,411 | ) | ||||||||
Net income from continuing operations attributable to common shareholders, after allocation to participating securities | $ | 16,207 | $ | 12,952 | $ | 32,384 | $ | 30,410 | ||||||||
Net income from discontinued operations, before allocation to participating securities | $ | 1,321 | $ | 1,672 | $ | 5,824 | $ | 5,816 | ||||||||
Less: Amount allocated to participating securities | (17 | ) | (178 | ) | (309 | ) | (629 | ) | ||||||||
Net income from discontinued operations, after allocation to participating securities | $ | 1,304 | $ | 1,494 | $ | 5,515 | $ | 5,187 | ||||||||
Net income attributable to common shareholders, before allocation to participating securities | $ | 17,671 | $ | 16,078 | $ | 39,277 | $ | 39,637 | ||||||||
Less: Amount allocated to participating securities | (160 | ) | (1,632 | ) | (1,378 | ) | (4,040 | ) | ||||||||
Net income attributable to common shareholders, after allocation to participating securities | $ | 17,511 | $ | 14,446 | $ | 37,899 | $ | 35,597 | ||||||||
Basic earnings/ (loss) per share - Denominator: | ||||||||||||||||
Weighted average basic common shares outstanding | 77,670,017 | 76,290,382 | 77,249,660 | 75,911,520 | ||||||||||||
Per share data - Basic earnings/ (loss) per share from: | ||||||||||||||||
Continuing operations | $ | 0.21 | $ | 0.17 | $ | 0.42 | $ | 0.4 | ||||||||
Discontinued operations | $ | 0.02 | $ | 0.02 | $ | 0.07 | $ | 0.07 | ||||||||
Total attributable to common shareholders | $ | 0.23 | $ | 0.19 | $ | 0.49 | $ | 0.47 | ||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands, except share and per share data) | ||||||||||||||||
Diluted earnings/ (loss) per share - Numerator: | ||||||||||||||||
Net income from continuing operations attributable to common shareholders, after allocation to participating securities | $ | 16,207 | $ | 12,952 | $ | 32,384 | $ | 30,410 | ||||||||
Add back: income allocated to dilutive securities | — | — | — | — | ||||||||||||
Net income from continuing operations attributable to common shareholders, after allocation to participating securities, after assumed dilution | 16,207 | 12,952 | 32,384 | 30,410 | ||||||||||||
Net income from discontinued operations, after allocation to participating securities | 1,304 | 1,494 | 5,515 | 5,187 | ||||||||||||
Net income attributable to common shareholders, after allocation to participating securities, after assumed dilution | $ | 17,511 | $ | 14,446 | $ | 37,899 | $ | 35,597 | ||||||||
Diluted earnings/ (loss) per share - Denominator: | ||||||||||||||||
Weighted average basic common shares outstanding | 77,670,017 | 76,290,382 | 77,249,660 | 75,911,520 | ||||||||||||
Dilutive effect of: | ||||||||||||||||
Stock options and performance-based restricted stock (3) | 708,745 | 621,308 | 604,893 | 531,523 | ||||||||||||
Warrants to purchase common stock (3) | 814,986 | 455,921 | 633,617 | 371,160 | ||||||||||||
Dilutive common shares | 1,523,731 | 1,077,229 | 1,238,510 | 902,683 | ||||||||||||
Weighted average diluted common shares outstanding (3) | 79,193,748 | 77,367,611 | 78,488,170 | 76,814,203 | ||||||||||||
Per share data - Diluted earnings/ (loss) per share from: | ||||||||||||||||
Continuing operations | $ | 0.2 | $ | 0.17 | $ | 0.41 | $ | 0.39 | ||||||||
Discontinued operations | $ | 0.02 | $ | 0.02 | $ | 0.07 | $ | 0.07 | ||||||||
Total attributable to common shareholders | $ | 0.22 | $ | 0.19 | $ | 0.48 | $ | 0.46 | ||||||||
Dividends per share declared on common stock | $ | 0.07 | $ | 0.01 | $ | 0.17 | $ | 0.03 | ||||||||
_____________________ | ||||||||||||||||
-1 | See Part II. Item 8. “Financial Statements and Supplementary Data—Note 14: Noncontrolling Interests” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 for a description of the redemption values related to the redeemable noncontrolling interests. In accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”), an increase in redemption value from period to period reduces income attributable to common shareholders. Decreases in redemption value from period to period increase income attributable to common shareholders, but only to the extent that the cumulative change in redemption value remains a cumulative increase since adoption of this standard in the first quarter of 2009. | |||||||||||||||
-2 | Consideration paid in excess of carrying value for the repurchase of the Series B preferred stock of $11.7 million is considered a deemed dividend and, for purposes of calculating EPS, reduces net income attributable to common shareholders for the nine months ended September 30, 2013. | |||||||||||||||
-3 | The diluted EPS computations for the three and nine months ended September 30, 2013 and 2012 do not assume the conversion, exercise, or contingent issuance of the following shares for these periods because the result would have been anti-dilutive for the periods indicated. As a result of the anti-dilution, the potential common shares excluded from the diluted EPS computation are as follows: | |||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Shares excluded due to anti-dilution (treasury method): | (In thousands) | |||||||||||||||
Potential common shares from: | ||||||||||||||||
Convertible trust preferred securities (a) | 1 | 784 | 1 | 784 | ||||||||||||
Total shares excluded due to anti-dilution | 1 | 784 | 1 | 784 | ||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Shares excluded due to exercise price exceeding the average market price of common shares during the period (total outstanding): | (In thousands) | |||||||||||||||
Potential common shares from: | ||||||||||||||||
Stock options or other dilutive securities (b) | 1,214 | 2,102 | 1,446 | 2,180 | ||||||||||||
Total shares excluded due to exercise price exceeding the average market price of common shares during the period | 1,214 | 2,102 | 1,446 | 2,180 | ||||||||||||
(a) | If the effect of the conversion of the trust preferred securities would have been dilutive, interest expense, net of tax, related to the convertible trust preferred securities of $0.2 million and $0.8 million for the three and nine months ended September 30, 2012, respectively, would have been added back to net income attributable to common shareholders for diluted EPS computations for the period presented. None would be added back for the three or nine months ended September 30, 2013. | |||||||||||||||
(b) | Options to purchase shares of common stock and other dilutive securities that were outstanding at period ends were not included in the computation of diluted EPS or in the above anti-dilution table because their exercise or conversion prices were greater than the average market price of the common shares during the respective periods. |
Reportable_Segments
Reportable Segments | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | |||||||||||||||||||||||
Reportable segments | ||||||||||||||||||||||||
Management Reporting | ||||||||||||||||||||||||
The Company has three reportable segments (Private Banking, Investment Management, and Wealth Advisory) and the Parent Company (Boston Private Financial Holdings, Inc.) (the “Holding Company”). The financial performance of the Company is managed and evaluated by these three areas. The segments are managed separately as a result of the concentrations in each function. | ||||||||||||||||||||||||
Measurement of Segment Profit and Assets | ||||||||||||||||||||||||
The accounting policies of the segments are the same as those described in Part II. Item 8. “Financial Statements and Supplementary Data - Note 1: Basis of Presentation and Summary of Significant Accounting Policies” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | ||||||||||||||||||||||||
Revenues, expenses, and assets are recorded by each segment, and separate financial statements are reviewed by their management and the Company’s segment chief executive officers. | ||||||||||||||||||||||||
Reconciliation of Reportable Segment Items | ||||||||||||||||||||||||
The following tables present a reconciliation of the revenues, profits, assets, and other significant items of reportable segments as of and for the three and nine months ended September 30, 2013 and 2012. Interest expense on junior subordinated debentures is reported at the Holding Company. | ||||||||||||||||||||||||
Three months ended September 30, | ||||||||||||||||||||||||
Net interest income | Non-interest income | Total revenues | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Total Bank | $ | 43,371 | $ | 47,812 | $ | 8,873 | $ | 7,937 | $ | 52,244 | $ | 55,749 | ||||||||||||
Total Investment Managers | 5 | 6 | 10,518 | 10,043 | 10,523 | 10,049 | ||||||||||||||||||
Total Wealth Advisors | 15 | 6 | 10,698 | 9,494 | 10,713 | 9,500 | ||||||||||||||||||
Total Segments | 43,391 | 47,824 | 30,089 | 27,474 | 73,480 | 75,298 | ||||||||||||||||||
Holding Company and Eliminations | (1,089 | ) | (1,458 | ) | 5 | 1,130 | (1,084 | ) | (328 | ) | ||||||||||||||
Total Company | $ | 42,302 | $ | 46,366 | $ | 30,094 | $ | 28,604 | $ | 72,396 | $ | 74,970 | ||||||||||||
Three months ended September 30, | ||||||||||||||||||||||||
Non-interest expense (1) | Income tax expense | Net income from | ||||||||||||||||||||||
continuing operations | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Total Bank | $ | 32,717 | $ | 36,785 | $ | 8,774 | $ | 8,133 | $ | 16,753 | $ | 14,831 | ||||||||||||
Total Investment Managers | 8,376 | 7,841 | 714 | 748 | 1,433 | 1,460 | ||||||||||||||||||
Total Wealth Advisors | 7,341 | 6,806 | 1,282 | 996 | 2,090 | 1,698 | ||||||||||||||||||
Total Segments | 48,434 | 51,432 | 10,770 | 9,877 | 20,276 | 17,989 | ||||||||||||||||||
Holding Company and Eliminations | 3,519 | 6,718 | (2,213 | ) | (4,753 | ) | (2,390 | ) | (2,293 | ) | ||||||||||||||
Total Company | $ | 51,953 | $ | 58,150 | $ | 8,557 | $ | 5,124 | $ | 17,886 | $ | 15,696 | ||||||||||||
Three months ended September 30, | ||||||||||||||||||||||||
Net income | Net income | Amortization of intangibles | ||||||||||||||||||||||
attributable to | attributable to | |||||||||||||||||||||||
noncontrolling interests | the Company (2) | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Total Bank | $ | — | $ | — | $ | 16,753 | $ | 14,831 | $ | 69 | $ | 26 | ||||||||||||
Total Investment Managers | 438 | 444 | 995 | 1,016 | 739 | 800 | ||||||||||||||||||
Total Wealth Advisors | 433 | 411 | 1,657 | 1,287 | 248 | 256 | ||||||||||||||||||
Total Segments | 871 | 855 | 19,405 | 17,134 | 1,056 | 1,082 | ||||||||||||||||||
Holding Company and Eliminations | — | — | (1,069 | ) | (621 | ) | — | — | ||||||||||||||||
Total Company | $ | 871 | $ | 855 | $ | 18,336 | $ | 16,513 | $ | 1,056 | $ | 1,082 | ||||||||||||
As of September 30, | Three months ended September 30, | |||||||||||||||||||||||
Assets | AUM (3) | Depreciation | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(In thousands) | (In millions) | (In thousands) | ||||||||||||||||||||||
Total Bank | $ | 6,090,343 | $ | 6,071,302 | $ | 4,263 | $ | 3,784 | $ | 1,282 | $ | 1,496 | ||||||||||||
Total Investment Managers | 101,981 | 105,349 | 9,697 | 8,553 | 58 | 59 | ||||||||||||||||||
Total Wealth Advisors | 71,172 | 71,936 | 8,809 | 7,797 | 89 | 91 | ||||||||||||||||||
Total Segments | 6,263,496 | 6,248,587 | 22,769 | 20,134 | 1,429 | 1,646 | ||||||||||||||||||
Holding Company and Eliminations | 11,443 | 24,197 | (21 | ) | (20 | ) | 76 | 58 | ||||||||||||||||
Total Company | $ | 6,274,939 | $ | 6,272,784 | $ | 22,748 | $ | 20,114 | $ | 1,505 | $ | 1,704 | ||||||||||||
Nine months ended September 30, | ||||||||||||||||||||||||
Net interest income | Non-interest income (4) | Total revenues | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Total Bank | $ | 133,738 | $ | 142,467 | $ | 38,078 | $ | 24,233 | $ | 171,816 | $ | 166,700 | ||||||||||||
Total Investment Managers | 15 | 21 | 31,480 | 29,110 | 31,495 | 29,131 | ||||||||||||||||||
Total Wealth Advisors | 51 | 19 | 31,081 | 27,900 | 31,132 | 27,919 | ||||||||||||||||||
Total Segments | 133,804 | 142,507 | 100,639 | 81,243 | 234,443 | 223,750 | ||||||||||||||||||
Holding Company and Eliminations | (3,327 | ) | (4,777 | ) | 907 | 2,824 | (2,420 | ) | (1,953 | ) | ||||||||||||||
Total Company | $ | 130,477 | $ | 137,730 | $ | 101,546 | $ | 84,067 | $ | 232,023 | $ | 221,797 | ||||||||||||
Nine months ended September 30, | ||||||||||||||||||||||||
Non-interest expense (1) | Income tax expense | Net income from | ||||||||||||||||||||||
continuing operations | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Total Bank | $ | 103,857 | $ | 108,030 | $ | 26,190 | $ | 19,312 | $ | 49,769 | $ | 37,658 | ||||||||||||
Total Investment Managers | 24,422 | 23,351 | 2,329 | 1,977 | 4,744 | 3,803 | ||||||||||||||||||
Total Wealth Advisors | 21,809 | 20,334 | 3,463 | 2,771 | 5,860 | 4,814 | ||||||||||||||||||
Total Segments | 150,088 | 151,715 | 31,982 | 24,060 | 60,373 | 46,275 | ||||||||||||||||||
Holding Company and Eliminations | 15,117 | 17,397 | (6,977 | ) | (9,845 | ) | (10,560 | ) | (9,505 | ) | ||||||||||||||
Total Company | $ | 165,205 | $ | 169,112 | $ | 25,005 | $ | 14,215 | $ | 49,813 | $ | 36,770 | ||||||||||||
Nine months ended September 30, | ||||||||||||||||||||||||
Net income | Net income | Amortization of intangibles | ||||||||||||||||||||||
attributable to | attributable to | |||||||||||||||||||||||
noncontrolling interests | the Company (2) | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Total Bank | $ | — | $ | — | $ | 49,769 | $ | 37,658 | $ | 210 | $ | 79 | ||||||||||||
Total Investment Managers | 1,425 | 1,184 | 3,319 | 2,619 | 2,319 | 2,401 | ||||||||||||||||||
Total Wealth Advisors | 1,345 | 1,223 | 4,515 | 3,591 | 746 | 783 | ||||||||||||||||||
Total Segments | 2,770 | 2,407 | 57,603 | 43,868 | 3,275 | 3,263 | ||||||||||||||||||
Holding Company and Eliminations | — | — | (4,736 | ) | (3,689 | ) | — | — | ||||||||||||||||
Total Company | $ | 2,770 | $ | 2,407 | $ | 52,867 | $ | 40,179 | $ | 3,275 | $ | 3,263 | ||||||||||||
Nine months ended September 30, | ||||||||||||||||||||||||
Depreciation | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Total Bank | $ | 4,050 | $ | 4,364 | ||||||||||||||||||||
Total Investment Managers | 164 | 189 | ||||||||||||||||||||||
Total Wealth Advisors | 277 | 269 | ||||||||||||||||||||||
Total Segments | 4,491 | 4,822 | ||||||||||||||||||||||
Holding Company and Eliminations | 167 | 148 | ||||||||||||||||||||||
Total Company | $ | 4,658 | $ | 4,970 | ||||||||||||||||||||
___________________ | ||||||||||||||||||||||||
-1 | Non-interest expense for the three and nine months ended September 30, 2013 includes no restructuring expense. Non-interest expense for the three and nine months ended September 30, 2012 includes $3.6 million and $4.3 million, respectively, of restructuring expense. Restructuring expenses were incurred in the Private Banking segment as well as at the Holding Company. | |||||||||||||||||||||||
-2 | Net income from discontinued operations for the three months ended September 30, 2013, and 2012 of $1.3 million, and $1.7 million, respectively, and for the nine months ended September 30, 2013, and 2012, of $5.8 million and $5.8 million, respectively, are included in Holding Company and Eliminations in the calculation of net income attributable to the Company. | |||||||||||||||||||||||
-3 | “AUM” represents Assets Under Management and Advisory at the affiliates. AUM at DTC have been removed since DTC operations are classified with discontinued operations. | |||||||||||||||||||||||
-4 | Included in Bank non-interest income for the nine months ended September 30, 2013 is the $10.6 million gain on sale of its three offices in the Pacific Northwest region. |
Investments
Investments | 9 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||
Investments [Abstract] | ' | ||||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | ||||||||||||||||||||||||||
Investments | |||||||||||||||||||||||||||
The following table presents a summary of investment securities: | |||||||||||||||||||||||||||
Amortized | Unrealized | Fair | |||||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||
Available for sale securities at fair value: | |||||||||||||||||||||||||||
U.S. government and agencies | $ | 2,309 | $ | 19 | $ | (29 | ) | $ | 2,299 | ||||||||||||||||||
Government-sponsored entities | 222,522 | 362 | (941 | ) | 221,943 | ||||||||||||||||||||||
Municipal bonds | 216,361 | 1,423 | (1,818 | ) | 215,966 | ||||||||||||||||||||||
Mortgage-backed securities (1) | 248,502 | 2,722 | (3,986 | ) | 247,238 | ||||||||||||||||||||||
Other | 15,274 | 231 | (7 | ) | 15,498 | ||||||||||||||||||||||
Total | $ | 704,968 | $ | 4,757 | $ | (6,781 | ) | $ | 702,944 | ||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||
Available for sale securities at fair value: | |||||||||||||||||||||||||||
U.S. government and agencies | $ | 2,781 | $ | — | $ | (28 | ) | $ | 2,753 | ||||||||||||||||||
Government-sponsored entities | 154,058 | 962 | (18 | ) | 155,002 | ||||||||||||||||||||||
Municipal bonds | 207,952 | 3,172 | (140 | ) | 210,984 | ||||||||||||||||||||||
Mortgage-backed securities (1) | 313,239 | 5,597 | (909 | ) | 317,927 | ||||||||||||||||||||||
Other | 12,526 | 120 | (12 | ) | 12,634 | ||||||||||||||||||||||
Total | $ | 690,556 | $ | 9,851 | $ | (1,107 | ) | $ | 699,300 | ||||||||||||||||||
___________________ | |||||||||||||||||||||||||||
-1 | All mortgage-backed securities are guaranteed by U.S. government agencies or government-sponsored entities. | ||||||||||||||||||||||||||
The following table presents the maturities of investment securities available for sale, based on contractual maturity, as of September 30, 2013. Certain securities are callable before their final maturity. Additionally, certain securities (such as mortgage-backed securities) are shown within the table below based on their final (contractual) maturity, but, due to prepayments and amortization, are expected to have shorter lives. | |||||||||||||||||||||||||||
Available for Sale Securities | |||||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||||
cost | value | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
Within one year | $ | 64,191 | $ | 64,570 | |||||||||||||||||||||||
After one, but within five years | 320,013 | 320,262 | |||||||||||||||||||||||||
After five, but within ten years | 84,421 | 83,968 | |||||||||||||||||||||||||
Greater than ten years | 236,343 | 234,144 | |||||||||||||||||||||||||
Total | $ | 704,968 | $ | 702,944 | |||||||||||||||||||||||
The following table presents the proceeds from sales, gross realized gains and gross realized losses for securities available for sale that were sold during the following periods: | |||||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||
Proceeds from sales | $ | 1,982 | $ | 86 | $ | 3,472 | $ | 49,323 | |||||||||||||||||||
Realized gains | 7 | 25 | 35 | 924 | |||||||||||||||||||||||
Realized losses | — | — | — | (46 | ) | ||||||||||||||||||||||
The following table presents information regarding securities as of September 30, 2013 having temporary impairment, due to the fair values having declined below the amortized cost of the individual securities, and the time period that the investments have been temporarily impaired. | |||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | # of | |||||||||||||||||||||
value | losses | value | losses | value | losses | securities | |||||||||||||||||||||
Available for sale securities | (In thousands) | ||||||||||||||||||||||||||
U.S. government and agencies | $ | — | $ | — | $ | 1,122 | $ | (29 | ) | $ | 1,122 | $ | (29 | ) | 1 | ||||||||||||
Government-sponsored entities | 133,454 | (941 | ) | — | — | 133,454 | (941 | ) | 11 | ||||||||||||||||||
Municipal bonds | 96,618 | (1,818 | ) | — | — | 96,618 | (1,818 | ) | 56 | ||||||||||||||||||
Mortgage-backed securities | 118,115 | (3,066 | ) | 28,778 | (920 | ) | 146,893 | (3,986 | ) | 32 | |||||||||||||||||
Other | 30 | (5 | ) | 36 | (2 | ) | 66 | (7 | ) | 6 | |||||||||||||||||
Total | $ | 348,217 | $ | (5,830 | ) | $ | 29,936 | $ | (951 | ) | $ | 378,153 | $ | (6,781 | ) | 106 | |||||||||||
The U.S. government and agencies securities, government-sponsored entities securities and mortgage-backed securities in the table above as of September 30, 2013 had Standard and Poor’s credit ratings of AA+. The municipal bonds in the table above had Moody’s credit ratings of at least A3 or Standard and Poor’s credit ratings of AA. The other securities consisted of equity securities. | |||||||||||||||||||||||||||
As of September 30, 2013, the amount of investment securities in an unrealized loss position greater than 12 months, as well as in total, was not significant and was primarily due to movements in interest rates. The Company has no intent to sell any securities in an unrealized loss position as of September 30, 2013 and it is not more likely than not that the Company would be forced to sell any of these securities prior to the full recovery of all unrealized loss amounts. | |||||||||||||||||||||||||||
Cost method investments, which are included in other assets, can be temporarily impaired when the fair values decline below the amortized costs of the individual investments. There were no cost method investments with unrealized losses as of September 30, 2013. There were $0.1 million of cost method investments with unrealized losses at December 31, 2012. The Company’s cost method investments primarily include low income housing partnerships which generate tax credits. The Company also holds partnership interests in venture capital funds formed to provide financing to small businesses and to promote community development. The Company had $25.9 million and $24.9 million in cost method investments included in other assets as of September 30, 2013 and December 31, 2012, respectively. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | |||||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||||||
Fair value is defined under GAAP as the exchange price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. The Company determines the fair values of its financial instruments based on the fair value hierarchy established in ASC 820, Fair Value Measurements and Disclosures (“ASC 820”), which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value. Financial instruments are considered Level 1 when valuation can be based on quoted prices in active markets for identical assets or liabilities. Level 2 financial instruments are valued using quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or models using inputs that are observable or can be corroborated by observable market data of substantially the full term of the assets or liabilities. Financial instruments are considered Level 3 when their values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable and when determination of the fair value requires significant management judgment or estimation. | ||||||||||||||||||||||||
The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012, aggregated by the level in the fair value hierarchy within which those measurements fall: | ||||||||||||||||||||||||
As of September 30, 2013 | Fair value measurements at reporting date using: | |||||||||||||||||||||||
Quoted prices in | Significant | Significant | ||||||||||||||||||||||
active markets | other | unobservable | ||||||||||||||||||||||
for identical | observable | inputs (Level 3) | ||||||||||||||||||||||
assets (Level 1) | inputs (Level 2) | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Available for sale securities: | ||||||||||||||||||||||||
U.S. government and agencies | $ | 2,299 | $ | — | $ | 2,299 | $ | — | ||||||||||||||||
Government-sponsored entities | 221,943 | — | 221,943 | — | ||||||||||||||||||||
Municipal bonds | 215,966 | — | 215,966 | — | ||||||||||||||||||||
Mortgage-backed securities | 247,238 | — | 247,238 | — | ||||||||||||||||||||
Other | 15,498 | 15,498 | — | — | ||||||||||||||||||||
Total available for sale securities | 702,944 | 15,498 | 687,446 | — | ||||||||||||||||||||
Derivatives - interest rate customer swaps | 1,742 | — | 1,742 | — | ||||||||||||||||||||
Other investments | 5,616 | 5,038 | 578 | — | ||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Derivatives - interest rate customer swaps | $ | 1,807 | $ | — | $ | 1,807 | $ | — | ||||||||||||||||
Derivatives - junior subordinated debenture interest rate swap | 3,839 | — | 3,839 | — | ||||||||||||||||||||
Derivatives - interest rate swaps | 333 | — | 333 | — | ||||||||||||||||||||
Fair value measurements at reporting date using: | ||||||||||||||||||||||||
As of December 31, 2012 | Quoted prices in | Significant | Significant | |||||||||||||||||||||
active markets | other | unobservable | ||||||||||||||||||||||
for identical | observable | inputs (Level 3) | ||||||||||||||||||||||
assets (Level 1) | inputs (Level 2) | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Available for sale securities: | ||||||||||||||||||||||||
U.S. government and agencies | $ | 2,753 | $ | — | $ | 2,753 | $ | — | ||||||||||||||||
Government-sponsored entities | 155,002 | — | 155,002 | — | ||||||||||||||||||||
Municipal bonds | 210,984 | — | 210,984 | — | ||||||||||||||||||||
Mortgage-backed securities | 317,927 | — | 317,927 | — | ||||||||||||||||||||
Other | 12,634 | 12,634 | — | — | ||||||||||||||||||||
Total available for sale securities | 699,300 | 12,634 | 686,666 | — | ||||||||||||||||||||
Derivatives - interest rate customer swaps | 2,915 | — | 2,915 | — | ||||||||||||||||||||
Derivatives - customer foreign exchange forwards | 120 | — | 120 | — | ||||||||||||||||||||
Other investments | 5,892 | 5,206 | 686 | — | ||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Derivatives - interest rate customer swaps | $ | 3,047 | $ | — | $ | 3,047 | $ | — | ||||||||||||||||
Derivatives - customer foreign exchange forwards | 120 | — | 120 | — | ||||||||||||||||||||
Derivatives - junior subordinated debenture interest rate swap | 5,189 | — | 5,189 | — | ||||||||||||||||||||
As of September 30, 2013 and December 31, 2012, available for sale securities consisted primarily of U.S. government and agencies securities, government-sponsored entities securities, municipal bonds, mortgage-backed securities, and other available for sale securities. The equities (which are categorized as other available for sale securities) are valued with prices quoted in active markets. Therefore, they have been categorized as a Level 1 measurement. The government-sponsored entities securities, municipal bonds, mortgage-backed securities, and certain investments in Small Business Administration (“SBA”) loans (which are categorized as U.S. government and agencies securities) generally have quoted prices but are traded less frequently than exchange-traded securities and can be priced using market data from similar assets. Therefore, they have been categorized as a Level 2 measurement. No investments held at September 30, 2013 or December 31, 2012 were categorized as Level 3. | ||||||||||||||||||||||||
The Company uses interest rate customer swaps, interest rate swaps and a junior subordinated debenture interest rate swap to manage its interest rate risk, and customer foreign exchange forward contracts to manage its foreign exchange risk, if any. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. Therefore, they have been categorized as a Level 2 measurement as of September 30, 2013 and December 31, 2012. See Part I. Item 1. “Notes to Unaudited Consolidated Financial Statements-Note 8: Derivatives and Hedging Activities” for further details. | ||||||||||||||||||||||||
To comply with the provisions of ASC 820, the Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. Counterparty exposure is evaluated by netting positions that are subject to master netting agreements, as well as considering the amount of collateral securing the position. | ||||||||||||||||||||||||
The Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, although the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy as of September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||
Other investments, which are not considered available for sale investments, consist of deferred compensation trusts for the benefit of certain current or former employees, which consist of publicly traded mutual fund investments that are valued at prices quoted in active markets. Therefore, they have been categorized as a Level 1 measurement as of September 30, 2013 and December 31, 2012. The remaining other investments categorized as Level 2 consist of the Company’s cost-method investments as of September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||
There were no Level 3 assets at September 30, 2013 or December 31, 2012. | ||||||||||||||||||||||||
The following tables present the Company’s assets and liabilities measured at fair value on a non-recurring basis during the periods ended September 30, 2013 and 2012, respectively, aggregated by the level in the fair value hierarchy within which those measurements fall: | ||||||||||||||||||||||||
As of September 30, 2013 | Fair value measurements at reporting date using: | Gain (losses) from fair value changes | ||||||||||||||||||||||
Quoted prices in | Significant | Significant | Three months ended September 30, 2013 | Nine months ended September 30, 2013 | ||||||||||||||||||||
active markets | other | unobservable | ||||||||||||||||||||||
for identical | observable | inputs (Level 3) | ||||||||||||||||||||||
assets (Level 1) | inputs (Level 2) | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Impaired loans (1) | $ | 9,464 | $ | — | $ | — | $ | 9,464 | $ | — | $ | (1,845 | ) | |||||||||||
$ | 9,464 | $ | — | $ | — | $ | 9,464 | $ | — | $ | (1,845 | ) | ||||||||||||
___________________ | ||||||||||||||||||||||||
-1 | Collateral-dependent impaired loans held at September 30, 2013 that had write-downs in fair value or whose specific reserve changed during the first nine months of 2013. | |||||||||||||||||||||||
As of September 30, 2012 | Fair value measurements at reporting date using: | Gain (losses) from fair value changes | ||||||||||||||||||||||
Quoted prices in | Significant | Significant | Three months ended September 30, 2012 | Nine months ended September 30, 2012 | ||||||||||||||||||||
active markets | other | unobservable | ||||||||||||||||||||||
for identical | observable | inputs (Level 3) | ||||||||||||||||||||||
assets (Level 1) | inputs (Level 2) | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Impaired loans (1) | $ | 20,230 | $ | — | $ | — | $ | 20,230 | $ | (4,598 | ) | $ | (5,186 | ) | ||||||||||
OREO (2) | 379 | — | — | 379 | (102 | ) | (102 | ) | ||||||||||||||||
$ | 20,609 | $ | — | $ | — | $ | 20,609 | $ | (4,700 | ) | $ | (5,288 | ) | |||||||||||
________________ | ||||||||||||||||||||||||
-1 | Collateral-dependent impaired loans held at September 30, 2012 that had write-downs in fair value or whose specific reserve changed during the first nine months of 2012. | |||||||||||||||||||||||
-2 | One OREO property held at September 30, 2012 had a write-down during the first nine months of 2012. | |||||||||||||||||||||||
The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company has utilized Level 3 inputs to determine fair value: | ||||||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Range of | Weighted | ||||||||||||||||||||
technique | Input | Inputs | Average of | |||||||||||||||||||||
Utilized | Inputs | |||||||||||||||||||||||
Utilized | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired Loans | $ | 9,464 | Appraisals of Collateral | Discount for costs to sell | 0% - 13% | 8% | ||||||||||||||||||
Appraisal adjustments | 0% - 45% | 24% | ||||||||||||||||||||||
As of September 30, 2012 | ||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Range of | Weighted | ||||||||||||||||||||
technique | Input | Inputs | Average of | |||||||||||||||||||||
Utilized | Inputs | |||||||||||||||||||||||
Utilized | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired Loans | $ | 20,230 | Appraisals of Collateral | Discount for costs to sell | 6% - 13% | 8% | ||||||||||||||||||
Appraisal adjustments | 0% - 30% | 11% | ||||||||||||||||||||||
OREO | $ | 379 | Appraisals of Collateral | Discount for costs to sell | 8% | 8% | ||||||||||||||||||
Appraisal adjustments | —% | —% | ||||||||||||||||||||||
Impaired loans include those loans that were adjusted to the fair value of underlying collateral as required under ASC 310, Receivables. The amount does not include impaired loans that are measured based on expected future cash flows discounted at the respective loan’s original effective interest rate, as that amount is not considered a fair value measurement. The Company uses appraisals, which management may adjust to reflect estimated fair value declines, or apply other discounts to appraised values for unobservable factors resulting from its knowledge of the property or consideration of broker quotes. The appraisers use a market, income, and/or a cost approach in determining the value of the collateral. Therefore they have been categorized as a Level 3 measurement. | ||||||||||||||||||||||||
The following tables present the carrying values and fair values of the Company’s financial instruments that are not measured at fair value on a recurring basis (other than certain loans, as noted below): | ||||||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||
Book Value | Fair Value | Quoted prices | Significant | Significant | ||||||||||||||||||||
in active | other | unobservable | ||||||||||||||||||||||
markets for | observable | inputs (Level 3) | ||||||||||||||||||||||
identical assets | inputs (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
FINANCIAL ASSETS: | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 323,941 | $ | 323,941 | $ | 323,941 | $ | — | $ | — | ||||||||||||||
Loans, net | 4,845,045 | 4,822,432 | — | — | 4,822,432 | |||||||||||||||||||
Loans held for sale | 1,745 | 1,745 | — | 1,745 | — | |||||||||||||||||||
Other financial assets | 116,194 | 116,194 | — | 116,194 | — | |||||||||||||||||||
FINANCIAL LIABILITIES: | ||||||||||||||||||||||||
Deposits | 4,942,765 | 4,945,589 | — | 4,945,589 | — | |||||||||||||||||||
Securities sold under agreements to repurchase | 92,499 | 92,490 | — | 92,490 | — | |||||||||||||||||||
Federal Home Loan Bank borrowings | 391,466 | 402,158 | — | 402,158 | — | |||||||||||||||||||
Junior subordinated debentures | 110,487 | 100,487 | — | 7,394 | 93,093 | |||||||||||||||||||
Other financial liabilities | 9,708 | 9,708 | — | 9,708 | — | |||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||
Book Value | Fair Value | Quoted prices | Significant | Significant | ||||||||||||||||||||
in active | other | unobservable | ||||||||||||||||||||||
markets for | observable | inputs (Level 3) | ||||||||||||||||||||||
identical assets | inputs (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
FINANCIAL ASSETS: | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 308,744 | $ | 308,744 | $ | 308,744 | $ | — | $ | — | ||||||||||||||
Loans, net | 4,730,079 | 4,766,574 | — | — | 4,766,574 | |||||||||||||||||||
Loans held for sale | 308,390 | 308,908 | — | 308,908 | — | |||||||||||||||||||
Other financial assets | 118,087 | 118,087 | — | 118,087 | — | |||||||||||||||||||
FINANCIAL LIABILITIES: | ||||||||||||||||||||||||
Deposits | 4,885,059 | 4,891,465 | — | 4,891,465 | — | |||||||||||||||||||
Deposits held for sale | 194,084 | 182,592 | — | 182,592 | — | |||||||||||||||||||
Securities sold under agreements to repurchase | 116,319 | 117,885 | — | 117,885 | — | |||||||||||||||||||
Federal Home Loan Bank borrowings | 408,121 | 428,037 | — | 428,037 | — | |||||||||||||||||||
Junior subordinated debentures | 143,647 | 117,502 | — | 12,804 | 104,698 | |||||||||||||||||||
Other financial liabilities | 10,058 | 10,058 | — | 10,058 | — | |||||||||||||||||||
The estimated fair values have been determined by using available quoted market information or other appropriate valuation methodologies. The aggregate fair value amounts presented do not represent the underlying value of the Company taken as a whole. | ||||||||||||||||||||||||
The fair value estimates provided are made at a specific point in time, based on relevant market information and the characteristics of the financial instrument. The estimates do not provide for any premiums or discounts that could result from concentrations of ownership of a financial instrument. Because no active market exists for some of the Company’s financial instruments, certain fair value estimates are based on subjective judgments regarding current economic conditions, risk characteristics of the financial instruments, future expected loss experience, prepayment assumptions, and other factors. The resulting estimates involve uncertainties and therefore cannot be determined with precision. Changes made to any of the underlying assumptions could significantly affect the estimates. | ||||||||||||||||||||||||
Cash and cash equivalents | ||||||||||||||||||||||||
The carrying value reported in the balance sheets for cash and cash equivalents approximates fair value due to the short-term nature of their maturities and are classified as Level 1. | ||||||||||||||||||||||||
Loans, net | ||||||||||||||||||||||||
Fair value estimates are based on loans with similar financial characteristics. Fair values of commercial and residential mortgage loans are estimated by discounting contractual cash flows adjusted for prepayment estimates and using discount rates approximately equal to current market rates on loans with similar credit and interest rate characteristics and maturities. The fair value estimates for home equity and other loans are based on outstanding loan terms and pricing in the local markets. The method of estimating the fair value of the loans disclosed in the table above does not incorporate the exit price concept in the presentation of the fair value of these financial instruments. Net loans are included in the Level 3 fair value category based upon the inputs and valuation techniques used. | ||||||||||||||||||||||||
Loans held for sale | ||||||||||||||||||||||||
Loans held for sale are recorded at the lower of cost or fair value in the aggregate. Fair value estimates are based on actual commitments to sell the loans to investors at an agreed upon price or current market prices if rates have changed since the time the loan closed. In December 2012, the Bank entered into an agreement to sell its three offices in the Pacific Northwest market. The loans related to this transaction were transferred from the loan portfolio to loans held for sale. The fair value indicated for these loans held for sale was based on the agreed upon offer in the pending transaction. Accordingly, loans held for sale are included in the Level 2 fair value category. | ||||||||||||||||||||||||
Other financial assets | ||||||||||||||||||||||||
Other financial assets consist of accrued interest and fees receivable, stock in Federal Home Loan Banks (“FHLBs”), and the cash surrender value of bank-owned life insurance, for which the carrying amount approximates fair value, and are classified as Level 2. | ||||||||||||||||||||||||
Deposits | ||||||||||||||||||||||||
The fair values reported for transaction accounts (demand, NOW, savings, and money market) equal their respective book values reported on the balance sheets and are classified as Level 2. The fair values disclosed are, by definition, equal to the amount payable on demand at the reporting date. The fair values for certificates of deposit are based on the discounted value of contractual cash flows. The discount rates used are representative of approximate rates currently offered on certificates of deposit with similar remaining maturities and are classified as Level 2. | ||||||||||||||||||||||||
Deposits held for sale | ||||||||||||||||||||||||
Deposits held for sale are recorded at the lower of cost or fair value. All of the deposits held for sale at December 31, 2012 relate to the Pacific Northwest transaction. Fair value estimates are based on actual agreed upon price and premium per the agreement. Accordingly, deposits held for sale are included in the Level 2 fair value category. | ||||||||||||||||||||||||
Securities sold under agreements to repurchase | ||||||||||||||||||||||||
The fair value of securities sold under agreements to repurchase are estimated based on contractual cash flows discounted at the Bank’s incremental borrowing rate for FHLB borrowings with similar maturities and have been classified as Level 2. | ||||||||||||||||||||||||
Federal Home Loan Bank borrowings | ||||||||||||||||||||||||
The fair value reported for FHLB borrowings is estimated based on the discounted value of contractual cash flows. The discount rate used is based on the Bank’s estimated current incremental borrowing rate for FHLB borrowings of similar maturities and have been classified as Level 2. | ||||||||||||||||||||||||
Junior subordinated debentures | ||||||||||||||||||||||||
The fair value of the junior subordinated debentures issued by Boston Private Capital Trust I and the junior subordinated debentures acquired in the acquisitions of First Private Bank & Trust (“FPB”), Gibraltar Private Bank & Trust Company (“Gibraltar”) (Gibraltar was subsequently sold in 2009), and Charter Private Bank (“Charter”) are estimated based on either agreements to redeem the securities at par value and/ or the future expectation of the Company to redeem the securities at par value and therefore have been classified as Level 2. The fair value of the junior subordinated debentures issued by Boston Private Capital Trust II was estimated using Level 3 inputs such as the interest rates on these securities, current rates for similar debt, and a consideration for illiquidity of trading in the debt. | ||||||||||||||||||||||||
At December 31, 2012, the Company did not expect to redeem the junior subordinated debentures acquired in the acquisitions of FPB, Gibraltar, and Charter, and at that date the fair value of these junior subordinated debentures was estimated using Level 3 inputs such as the interest rates on these securities, current rates for similar debt, and a consideration for illiquidity of trading in the debt. | ||||||||||||||||||||||||
The junior subordinated debentures issued by FPB and Gibraltar were redeemed in the third quarter of 2013, and the junior subordinated debentures issued by Charter were redeemed in October 2013. | ||||||||||||||||||||||||
Other financial liabilities | ||||||||||||||||||||||||
Other financial liabilities consist of accrued interest payable and deferred compensation for which the carrying amount approximates fair value and are classified as Level 2. | ||||||||||||||||||||||||
Financial instruments with off-balance sheet risk | ||||||||||||||||||||||||
The Bank’s commitments to originate loans and for unused lines and outstanding letters of credit are primarily at market interest rates and therefore, the carrying amount approximates fair value. |
Loan_Portfolio_and_Credit_Qual
Loan Portfolio and Credit Quality | 9 Months Ended | |||||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||||
Financing Receivables [Text Block] | ' | |||||||||||||||||||||||||||||||||
Loan Portfolio and Credit Quality | ||||||||||||||||||||||||||||||||||
The Bank’s lending activities are conducted principally in the regions of New England, San Francisco Bay, and Southern California. In December 2012, the Bank entered into an agreement to sell its three banking offices in the Pacific Northwest market, and therefore the loans included in the Pacific Northwest transaction were classified as held for sale and are not included in the December 31, 2012 data below. The sale was completed in May 2013. | ||||||||||||||||||||||||||||||||||
The Bank originates single and multi-family residential loans, commercial real estate loans, commercial and industrial loans, construction and land loans, and home equity and other consumer loans. Most loans are secured by borrowers’ personal or business assets. The ability of the Bank’s single family residential and consumer borrowers to honor their repayment commitments is generally dependent on the overall economic conditions within the Bank’s lending areas. Commercial, construction, and land borrowers’ ability to repay is generally dependent upon the health of the economy and real estate values, including, in particular, the performance of the construction sector. Accordingly, the ultimate collectability of a substantial portion of the Bank’s loan portfolio is susceptible to changing conditions in the New England, San Francisco Bay, and Southern California economies and real estate markets. | ||||||||||||||||||||||||||||||||||
Total loans include deferred loan fees/ (costs), net, of ($4.2) million as of both September 30, 2013 and December 31, 2012. Deferred loan fees/ (costs) include unamortized premiums or discounts related to mortgage loans purchased by the Bank. | ||||||||||||||||||||||||||||||||||
The following table presents a summary of the loan portfolio based on the portfolio segment as of the dates indicated: | ||||||||||||||||||||||||||||||||||
September 30, | December 31, 2012 | |||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 788,425 | $ | 806,326 | ||||||||||||||||||||||||||||||
Commercial real estate | 1,722,031 | 1,691,350 | ||||||||||||||||||||||||||||||||
Construction and land | 154,609 | 137,570 | ||||||||||||||||||||||||||||||||
Residential | 2,006,702 | 1,906,089 | ||||||||||||||||||||||||||||||||
Home equity | 118,094 | 123,551 | ||||||||||||||||||||||||||||||||
Consumer and other | 132,361 | 149,250 | ||||||||||||||||||||||||||||||||
Total Loans | $ | 4,922,222 | $ | 4,814,136 | ||||||||||||||||||||||||||||||
The following table presents nonaccrual loans receivable by class of receivable as of the dates indicated: | ||||||||||||||||||||||||||||||||||
September 30, | December 31, 2012 | |||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 4,575 | $ | 4,337 | ||||||||||||||||||||||||||||||
Commercial real estate | 27,996 | 41,696 | ||||||||||||||||||||||||||||||||
Construction and land | 4,920 | 2,213 | ||||||||||||||||||||||||||||||||
Residential | 13,140 | 11,744 | ||||||||||||||||||||||||||||||||
Home equity | 134 | 660 | ||||||||||||||||||||||||||||||||
Consumer and other | 27 | 95 | ||||||||||||||||||||||||||||||||
Total | $ | 50,792 | $ | 60,745 | ||||||||||||||||||||||||||||||
The Bank’s policy is to discontinue the accrual of interest on a loan when the collectability of principal or interest is in doubt. In certain instances, although infrequent, loans that have become 90 days or more past due may remain on accrual status if the value of the collateral securing the loan is sufficient to cover principal and interest and the loan is in the process of collection. There were $1.7 million of loans 90 days or more past due, but still accruing, as of September 30, 2013 and $3.6 million as of December 31, 2012. The Bank’s policy for returning a loan to accrual status requires the loan to be brought current and for the client to show a history of making timely payments (generally six consecutive months). For troubled debt restructured loans (“TDRs”), a return to accrual status generally requires timely payments for a period of six months in accordance with the restructured loan terms, along with meeting other criteria. | ||||||||||||||||||||||||||||||||||
The following tables show the payment status of loans receivable by class of receivable as of the dates indicated: | ||||||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||||
Accruing Past Due | Nonaccrual Loans | |||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90+ Days Past Due | Total Accruing Past Due | Current Payment Status | 30-89 Days Past Due | 90+ Days Past Due | Total Non-Accrual Loans | Current Accruing Loans | Total Loans Receivable | |||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,128 | $ | 13 | $ | — | $ | 1,141 | $ | 1,351 | $ | — | $ | 3,224 | $ | 4,575 | $ | 782,709 | $ | 788,425 | ||||||||||||||
Commercial real estate | 1,018 | 525 | 1,647 | 3,190 | 13,548 | — | 14,448 | 27,996 | 1,690,845 | 1,722,031 | ||||||||||||||||||||||||
Construction and land | 679 | 13 | 65 | 757 | 3,988 | 49 | 883 | 4,920 | 148,932 | 154,609 | ||||||||||||||||||||||||
Residential | — | 3,758 | — | 3,758 | 5,648 | 216 | 7,276 | 13,140 | 1,989,804 | 2,006,702 | ||||||||||||||||||||||||
Home equity | 1,020 | — | — | 1,020 | 39 | — | 95 | 134 | 116,940 | 118,094 | ||||||||||||||||||||||||
Consumer and other | 27 | 2 | — | 29 | — | 4 | 23 | 27 | 132,305 | 132,361 | ||||||||||||||||||||||||
Total | $ | 3,872 | $ | 4,311 | $ | 1,712 | $ | 9,895 | $ | 24,574 | $ | 269 | $ | 25,949 | $ | 50,792 | $ | 4,861,535 | $ | 4,922,222 | ||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||
Accruing Past Due | Nonaccrual Loans | |||||||||||||||||||||||||||||||||
30-59 Days Past Due (1) | 60-89 Days Past Due | 90+ Days Past Due | Total Accruing Past Due | Current Payment Status | 30-89 Days Past Due | 90+ Days Past Due | Total Non-Accrual Loans | Current Accruing Loans | Total Loans Receivable | |||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 10,684 | $ | 210 | $ | 257 | $ | 11,151 | $ | 3,073 | $ | — | $ | 1,264 | $ | 4,337 | $ | 790,838 | $ | 806,326 | ||||||||||||||
Commercial real estate | 3,331 | 4,572 | 3,249 | 11,152 | 29,125 | 8,913 | 3,658 | 41,696 | 1,638,502 | 1,691,350 | ||||||||||||||||||||||||
Construction and land | 42 | 3,216 | 50 | 3,308 | 723 | 137 | 1,353 | 2,213 | 132,049 | 137,570 | ||||||||||||||||||||||||
Residential | 20,194 | 3,218 | — | 23,412 | 5,101 | 1,980 | 4,663 | 11,744 | 1,870,933 | 1,906,089 | ||||||||||||||||||||||||
Home equity | 119 | 39 | — | 158 | 300 | — | 360 | 660 | 122,733 | 123,551 | ||||||||||||||||||||||||
Consumer and other | 569 | 182 | — | 751 | 93 | — | 2 | 95 | 148,404 | 149,250 | ||||||||||||||||||||||||
Total | $ | 34,939 | $ | 11,437 | $ | 3,556 | $ | 49,932 | $ | 38,415 | $ | 11,030 | $ | 11,300 | $ | 60,745 | $ | 4,703,459 | $ | 4,814,136 | ||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Does not include one commercial and industrial 30-59 day delinquent loan totaling $0.3 million in loans held for sale as of December 31, 2012. | |||||||||||||||||||||||||||||||||
Nonaccruing and delinquent loans are affected by factors, such as economic and business conditions, interest rates, unemployment levels, and real estate collateral values, among others. In periods of prolonged economic declines, borrowers may become more severely impacted over time as liquidity levels decline and the borrower’s ability to continue to make payments deteriorates. With respect to real estate collateral values, the declines from the peak, as well as the value of the real estate at the time of origination versus the current value, can impact the level of problem loans. For instance, if the loan to value ratio at the time of renewal has increased due to the decline in the real estate value since origination, the loan may no longer meet the Bank’s underwriting standards and may not be renewed. | ||||||||||||||||||||||||||||||||||
Generally when a collateral dependent commercial loan becomes impaired, an updated appraisal of the collateral, if appropriate, is obtained. In limited circumstances, an updated appraisal is obtained on residential and home equity loans that are classified as impaired. If the impaired loan has not been upgraded to a performing status within a reasonable amount of time, the Bank continues to obtain newer appraisals, approximately every 12 to 18 months or sooner, if deemed necessary, especially during periods of declining values. | ||||||||||||||||||||||||||||||||||
The past due status of a loan is determined in accordance with its contractual repayment terms. All loan types are reported past due when one scheduled payment is due and unpaid for 30 days or more. | ||||||||||||||||||||||||||||||||||
Credit Quality Indicators | ||||||||||||||||||||||||||||||||||
The Bank uses a risk rating system to monitor the credit quality of its loan portfolio. Loan classifications are assessments made by the Bank of the status of the loans based on the facts and circumstances known to the Bank, including management’s judgment, at the time of assessment. Some or all of these classifications may change in the future if there are unexpected changes in the financial condition of the borrower, including but not limited to, changes resulting from continuing deterioration in general economic conditions on a national basis or in the local markets in which the Bank operates adversely affecting, among other things, real estate values. Such conditions, as well as other factors which adversely affect borrowers’ ability to service or repay loans, typically result in changes in loan default and charge-off rates, and increased provisions for loan losses, which would adversely affect the Company’s financial performance and financial condition. These circumstances are not entirely foreseeable and, as a result, it may not be possible to accurately reflect them in the Company’s analysis of credit risk. | ||||||||||||||||||||||||||||||||||
A summary of the rating system used by the Bank, repeated here from Part II. Item 8. “Financial Statements and Supplementary Data—Note 1: Basis of Presentation and Summary of Significant Accounting Policies,” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012, follows: | ||||||||||||||||||||||||||||||||||
Acceptable or Pass - All loans graded as acceptable or pass are considered acceptable credit quality by the Bank and are grouped for purposes of calculating the allowance for loan losses. Only commercial loans, including commercial real estate, commercial and industrial loans, and construction and land loans are given a numerical grade. For residential, home equity and consumer loans, the Bank classifies loans as acceptable or pass unless there is known information such as delinquency or client requests for modifications which would then generally result in a risk rating such as special mention or more severe depending on the factors. | ||||||||||||||||||||||||||||||||||
Special Mention - Loans rated in this category are defined as having potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may, at some future date, result in the deterioration of the repayment prospects for the credit or the Bank’s credit position. These loans are currently protected but have the potential to deteriorate to a substandard rating. For commercial loans, the borrower’s financial performance may be inconsistent or below forecast, creating the possibility of liquidity problems and shrinking debt service coverage. In loans having this rating, the primary source of repayment is still good, but there is increasing reliance on collateral or guarantor support. Collectability of the loan is not yet in jeopardy. In particular, loans in this category are considered more variable than other categories, since they will typically migrate through categories more quickly. | ||||||||||||||||||||||||||||||||||
Substandard - Loans rated in this category are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. A substandard credit has a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Substandard loans may be either still accruing or nonaccruing depending upon the severity of the risk and other factors such as the value of the collateral, if any, and past due status. | ||||||||||||||||||||||||||||||||||
Doubtful - Loans rated in this category indicate that collection or liquidation in full on the basis of currently existing facts, conditions and values, is highly questionable and improbable. Loans in this category are usually on nonaccrual and classified as impaired. | ||||||||||||||||||||||||||||||||||
The following tables present the loan portfolio’s credit risk profile by internally assigned grade by class of receivable as of the dates indicated: | ||||||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||||
By Loan Grade or Nonaccrual Status | ||||||||||||||||||||||||||||||||||
Pass | Special Mention | Accruing Substandard | Nonaccrual Loans | Total | ||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 766,285 | $ | 11,075 | $ | 6,490 | $ | 4,575 | $ | 788,425 | ||||||||||||||||||||||||
Commercial real estate | 1,629,671 | 41,988 | 22,376 | 27,996 | 1,722,031 | |||||||||||||||||||||||||||||
Construction and land | 128,828 | 20,209 | 652 | 4,920 | 154,609 | |||||||||||||||||||||||||||||
Residential | 1,980,499 | — | 13,063 | 13,140 | 2,006,702 | |||||||||||||||||||||||||||||
Home equity | 116,239 | — | 1,721 | 134 | 118,094 | |||||||||||||||||||||||||||||
Consumer and other | 131,390 | 937 | 7 | 27 | 132,361 | |||||||||||||||||||||||||||||
Total | $ | 4,752,912 | $ | 74,209 | $ | 44,309 | $ | 50,792 | $ | 4,922,222 | ||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||
By Loan Grade or Nonaccrual Status | ||||||||||||||||||||||||||||||||||
Pass | Special Mention (1) | Accruing Substandard | Nonaccrual Loans | Total | ||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 779,236 | $ | 13,691 | $ | 9,062 | $ | 4,337 | $ | 806,326 | ||||||||||||||||||||||||
Commercial real estate | 1,531,701 | 54,000 | 63,953 | 41,696 | 1,691,350 | |||||||||||||||||||||||||||||
Construction and land | 110,940 | 17,048 | 7,369 | 2,213 | 137,570 | |||||||||||||||||||||||||||||
Residential | 1,886,273 | — | 8,072 | 11,744 | 1,906,089 | |||||||||||||||||||||||||||||
Home equity | 121,218 | — | 1,673 | 660 | 123,551 | |||||||||||||||||||||||||||||
Consumer and other | 149,155 | — | — | 95 | 149,250 | |||||||||||||||||||||||||||||
Total | $ | 4,578,523 | $ | 84,739 | $ | 90,129 | $ | 60,745 | $ | 4,814,136 | ||||||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Does not include five commercial and industrial special mention loans totaling $0.9 million and three commercial real estate special mention loans totaling $3.0 million in loans held for sale as of December 31, 2012. | |||||||||||||||||||||||||||||||||
The following tables present, by class of receivable, the balance of impaired loans with and without a related allowance, the associated allowance for those impaired loans with a related allowance, and the total unpaid principal on impaired loans: | ||||||||||||||||||||||||||||||||||
As of and for the three and nine months ended September 30, 2013 | ||||||||||||||||||||||||||||||||||
Recorded Investment (1) | Unpaid Principal Balance | Related Allowance | QTD Average Recorded Investment | YTD Average Recorded Investment | QTD Interest Income Recognized while Impaired | YTD Interest Income Recognized while Impaired | ||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,068 | $ | 3,299 | n/a | $ | 2,558 | $ | 4,521 | $ | 62 | $ | 332 | |||||||||||||||||||||
Commercial real estate | 30,965 | 42,572 | n/a | 30,847 | 34,896 | 247 | 781 | |||||||||||||||||||||||||||
Construction and land | 1,078 | 1,800 | n/a | 1,083 | 1,605 | 6 | 103 | |||||||||||||||||||||||||||
Residential | 3,662 | 5,340 | n/a | 3,229 | 4,141 | 20 | 106 | |||||||||||||||||||||||||||
Home equity | 89 | 89 | n/a | 89 | 141 | 3 | 4 | |||||||||||||||||||||||||||
Consumer and other | 7 | 7 | n/a | 2 | 1 | — | — | |||||||||||||||||||||||||||
Subtotal | 37,869 | 53,107 | n/a | 37,808 | 45,305 | 338 | 1,326 | |||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 2,558 | 2,644 | $ | 253 | 2,496 | 2,385 | 1 | 23 | ||||||||||||||||||||||||||
Commercial real estate | 13,905 | 15,197 | 1,508 | 17,630 | 19,909 | 89 | 677 | |||||||||||||||||||||||||||
Construction and land | 4,185 | 4,405 | 794 | 4,185 | 3,260 | — | — | |||||||||||||||||||||||||||
Residential | 12,844 | 12,844 | 1,746 | 13,171 | 12,680 | 100 | 389 | |||||||||||||||||||||||||||
Home equity | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Subtotal | 33,492 | 35,090 | 4,301 | 37,482 | 38,234 | 190 | 1,089 | |||||||||||||||||||||||||||
Total: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 4,626 | 5,943 | 253 | 5,054 | 6,906 | 63 | 355 | |||||||||||||||||||||||||||
Commercial real estate | 44,870 | 57,769 | 1,508 | 48,477 | 54,805 | 336 | 1,458 | |||||||||||||||||||||||||||
Construction and land | 5,263 | 6,205 | 794 | 5,268 | 4,865 | 6 | 103 | |||||||||||||||||||||||||||
Residential | 16,506 | 18,184 | 1,746 | 16,400 | 16,821 | 120 | 495 | |||||||||||||||||||||||||||
Home equity | 89 | 89 | — | 89 | 141 | 3 | 4 | |||||||||||||||||||||||||||
Consumer and other | 7 | 7 | — | 2 | 1 | — | — | |||||||||||||||||||||||||||
Total | $ | 71,361 | $ | 88,197 | $ | 4,301 | $ | 75,290 | $ | 83,539 | $ | 528 | $ | 2,415 | ||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, which was applied to principal. | |||||||||||||||||||||||||||||||||
As of and for the three and nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||
Recorded Investment (1) | Unpaid Principal Balance | Related Allowance | QTD Average Recorded Investment | YTD Average Recorded Investment | QTD Interest Income Recognized while Impaired | YTD Interest Income Recognized while Impaired | ||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 5,064 | $ | 8,361 | n/a | $ | 3,686 | $ | 4,826 | $ | — | $ | — | |||||||||||||||||||||
Commercial real estate | 34,789 | 55,034 | n/a | 28,714 | 30,315 | 39 | 226 | |||||||||||||||||||||||||||
Construction and land | 4,630 | 6,783 | n/a | 5,655 | 6,115 | — | 97 | |||||||||||||||||||||||||||
Residential | 9,764 | 11,195 | n/a | 9,482 | 9,747 | 71 | 243 | |||||||||||||||||||||||||||
Home equity | 360 | 360 | n/a | 360 | 354 | 1 | 3 | |||||||||||||||||||||||||||
Consumer and other | — | — | n/a | 73 | 53 | — | — | |||||||||||||||||||||||||||
Subtotal | 54,607 | 81,733 | n/a | 47,970 | 51,410 | 111 | 569 | |||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 1,285 | 1,285 | $ | 123 | 2,731 | 1,983 | — | — | ||||||||||||||||||||||||||
Commercial real estate | 25,516 | 26,901 | 2,507 | 24,462 | 25,190 | 200 | 562 | |||||||||||||||||||||||||||
Construction and land | 1,018 | 1,062 | 425 | 2,187 | 1,662 | — | — | |||||||||||||||||||||||||||
Residential | 12,067 | 12,067 | 1,080 | 12,885 | 11,604 | 119 | 277 | |||||||||||||||||||||||||||
Home equity | 131 | 131 | 131 | 131 | 131 | 1 | 4 | |||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Subtotal | 40,017 | 41,446 | 4,266 | 42,396 | 40,570 | 320 | 843 | |||||||||||||||||||||||||||
Total: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 6,349 | 9,646 | 123 | 6,417 | 6,809 | — | — | |||||||||||||||||||||||||||
Commercial real estate | 60,305 | 81,935 | 2,507 | 53,176 | 55,505 | 239 | 788 | |||||||||||||||||||||||||||
Construction and land | 5,648 | 7,845 | 425 | 7,842 | 7,777 | — | 97 | |||||||||||||||||||||||||||
Residential | 21,831 | 23,262 | 1,080 | 22,367 | 21,351 | 190 | 520 | |||||||||||||||||||||||||||
Home equity | 491 | 491 | 131 | 491 | 485 | 2 | 7 | |||||||||||||||||||||||||||
Consumer and other | — | — | — | 73 | 53 | — | — | |||||||||||||||||||||||||||
Total | $ | 94,624 | $ | 123,179 | $ | 4,266 | $ | 90,366 | $ | 91,980 | $ | 431 | $ | 1,412 | ||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, which was applied to principal. | |||||||||||||||||||||||||||||||||
As of and for the year ended December 31, 2012 | ||||||||||||||||||||||||||||||||||
Recorded Investment (1) | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized while Impaired | ||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 3,274 | $ | 4,499 | n/a | $ | 4,707 | $ | — | |||||||||||||||||||||||||
Commercial real estate | 40,133 | 64,424 | n/a | 31,736 | 283 | |||||||||||||||||||||||||||||
Construction and land | 1,310 | 2,682 | n/a | 5,532 | 97 | |||||||||||||||||||||||||||||
Residential | 2,337 | 2,594 | n/a | 8,885 | 312 | |||||||||||||||||||||||||||||
Home equity | 360 | 360 | n/a | 355 | 3 | |||||||||||||||||||||||||||||
Consumer and other | — | — | n/a | 40 | — | |||||||||||||||||||||||||||||
Subtotal | 47,414 | 74,559 | n/a | 51,255 | 695 | |||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 1,149 | 1,191 | $ | 118 | 1,855 | 1 | ||||||||||||||||||||||||||||
Commercial real estate | 18,519 | 19,814 | 1,667 | 24,510 | 727 | |||||||||||||||||||||||||||||
Construction and land | 903 | 953 | 189 | 1,486 | — | |||||||||||||||||||||||||||||
Residential | 13,539 | 13,798 | 1,403 | 11,781 | 374 | |||||||||||||||||||||||||||||
Home equity | — | — | — | 114 | 5 | |||||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | |||||||||||||||||||||||||||||
Subtotal | 34,110 | 35,756 | 3,377 | 39,746 | 1,107 | |||||||||||||||||||||||||||||
Total: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 4,423 | 5,690 | 118 | 6,562 | 1 | |||||||||||||||||||||||||||||
Commercial real estate | 58,652 | 84,238 | 1,667 | 56,246 | 1,010 | |||||||||||||||||||||||||||||
Construction and land | 2,213 | 3,635 | 189 | 7,018 | 97 | |||||||||||||||||||||||||||||
Residential | 15,876 | 16,392 | 1,403 | 20,666 | 686 | |||||||||||||||||||||||||||||
Home equity | 360 | 360 | — | 469 | 8 | |||||||||||||||||||||||||||||
Consumer and other | — | — | — | 40 | — | |||||||||||||||||||||||||||||
Total | $ | 81,524 | $ | 110,315 | $ | 3,377 | $ | 91,001 | $ | 1,802 | ||||||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, which was applied to principal. | |||||||||||||||||||||||||||||||||
When management determines that it is probable that the Bank will not collect all principal and interest on a loan in accordance with the original loan terms, or in accordance with its restructured terms, if the loan is a TDR, the loan is designated as impaired. | ||||||||||||||||||||||||||||||||||
Loans that are designated as impaired require an analysis to determine the amount of impairment, if any. Impairment would be indicated as a result of the carrying value of the loan exceeding the estimated collateral value, less costs to sell, for collateral dependent loans or the net present value of the projected cash flow, discounted at the loan’s contractual effective interest rate, for loans not considered to be collateral dependent. Generally, shortfalls in the analysis on collateral dependent loans would result in the impairment amount being charged-off to the allowance for loan losses. Shortfalls on cash flow dependent loans may be carried as specific reserve allocations to the general reserve unless a known loss is determined to have occurred, in which case such known loss is charged-off. | ||||||||||||||||||||||||||||||||||
Loans in the held for sale category are carried at the lower of cost or estimated fair value in the aggregate and are excluded from the allowance for loan losses analysis. | ||||||||||||||||||||||||||||||||||
The Bank may, under certain circumstances, restructure loans as a concession to borrowers who are experiencing financial difficulty. Such loans are classified as TDRs and are included in impaired loans. TDRs typically result from the Bank’s loss mitigation activities which, among other things, could include rate reductions, payment extensions, and/or principal forgiveness. TDRs totaled $59.5 million and $54.5 million at September 30, 2013 and December 31, 2012, respectively. Of the $59.5 million in TDRs at September 30, 2013, $28.0 million were on accrual status. Of the $54.5 million in TDRs at December 31, 2012, $26.7 million were on accrual status. | ||||||||||||||||||||||||||||||||||
Since all TDRs are considered impaired loans, they are individually evaluated for impairment. The resulting impairment, if any, would have an impact on the allowance for loan losses as a specific reserve or charge-off. If, prior to the classification as a TDR, the loan was not impaired, there would have been a general reserve on the particular loan. Therefore, depending upon the result of the impairment analysis, there could be an increase or decrease in the related allowance for loan losses. Many loans initially categorized as TDRs are already on nonaccrual status and are already considered impaired. Therefore, there is generally not a material change to the allowance for loan losses when a nonaccruing loan is categorized as a TDR. | ||||||||||||||||||||||||||||||||||
The following tables present the balance of TDRs that were restructured or defaulted during the periods indicated: | ||||||||||||||||||||||||||||||||||
As of and for the three months ended September 30, 2013 | ||||||||||||||||||||||||||||||||||
Restructured Current Quarter | TDRs that defaulted in the current | |||||||||||||||||||||||||||||||||
quarter that were restructured | ||||||||||||||||||||||||||||||||||
in prior twelve months | ||||||||||||||||||||||||||||||||||
# of | Pre- | Post- | # of | Post- | ||||||||||||||||||||||||||||||
Loans | modification | modification | Loans | modification | ||||||||||||||||||||||||||||||
recorded | recorded | recorded | ||||||||||||||||||||||||||||||||
investment | investment | investment | ||||||||||||||||||||||||||||||||
(Dollars In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial | — | $ | — | $ | — | 1 | $ | 983 | ||||||||||||||||||||||||||
Commercial real estate (1) | 2 | 2,198 | 2,198 | 2 | 1,517 | |||||||||||||||||||||||||||||
Construction and land | — | — | — | — | — | |||||||||||||||||||||||||||||
Residential (2) | 2 | 227 | 227 | — | — | |||||||||||||||||||||||||||||
Home equity | — | — | — | — | — | |||||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | |||||||||||||||||||||||||||||
Total | 4 | $ | 2,425 | $ | 2,425 | 3 | $ | 2,500 | ||||||||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Represents the following concessions: combination of concessions. | |||||||||||||||||||||||||||||||||
-2 | Represents the following concessions: temporary reduction of interest rate. | |||||||||||||||||||||||||||||||||
As of and for the nine months ended September 30, 2013 | ||||||||||||||||||||||||||||||||||
Restructured Year to Date | TDRs that defaulted year to date that were restructured in prior twelve months | |||||||||||||||||||||||||||||||||
# of | Pre- | Post- | # of | Post- | ||||||||||||||||||||||||||||||
Loans | modification | modification | Loans | modification | ||||||||||||||||||||||||||||||
recorded | recorded | recorded | ||||||||||||||||||||||||||||||||
investment | investment | investment | ||||||||||||||||||||||||||||||||
(Dollars In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial (1) | 3 | $ | 1,369 | $ | 1,369 | 1 | $ | 983 | ||||||||||||||||||||||||||
Commercial real estate (2) | 7 | 11,361 | 11,361 | 5 | 5,072 | |||||||||||||||||||||||||||||
Construction and land (3) | 4 | 3,604 | 3,604 | — | — | |||||||||||||||||||||||||||||
Residential (4) | 10 | 934 | 934 | 1 | 1,116 | |||||||||||||||||||||||||||||
Home equity (5) | 1 | 40 | 40 | — | — | |||||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | |||||||||||||||||||||||||||||
Total | 25 | $ | 17,308 | $ | 17,308 | 7 | $ | 7,171 | ||||||||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Represents the following concessions: extension of term (1 loan; post-modification recorded investment of $1.0 million), temporary reduction of interest rate (1 loan; post-modification recorded investment of $0.2 million), and combination of concessions (1 loan; post-modification recorded investment of $0.2 million). | |||||||||||||||||||||||||||||||||
-2 | Represents the following concessions: extension of term (4 loans; post-modification recorded investment of $9.0 million) and combination of concessions (3 loans; post-modification recorded investment of $2.4 million). | |||||||||||||||||||||||||||||||||
-3 | Represents the following concessions: extension of term. | |||||||||||||||||||||||||||||||||
-4 | Represents the following concessions: temporary reduction of interest rate. | |||||||||||||||||||||||||||||||||
-5 | Represents the following concessions: extension of term. | |||||||||||||||||||||||||||||||||
As of and for the three months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||
Restructured Current Quarter | TDRs that defaulted in the current | |||||||||||||||||||||||||||||||||
quarter that were restructured | ||||||||||||||||||||||||||||||||||
in prior twelve months | ||||||||||||||||||||||||||||||||||
# of | Pre- | Post- | # of | Post- | ||||||||||||||||||||||||||||||
Loans | modification | modification | Loans | modification | ||||||||||||||||||||||||||||||
recorded | recorded | recorded | ||||||||||||||||||||||||||||||||
investment | investment | investment | ||||||||||||||||||||||||||||||||
(Dollars In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial (1) | 2 | $ | 1,807 | $ | 1,807 | — | $ | — | ||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | — | |||||||||||||||||||||||||||||
Construction and land | — | — | — | — | — | |||||||||||||||||||||||||||||
Residential (2) | 1 | 3,150 | 3,150 | 3 | 1,282 | |||||||||||||||||||||||||||||
Home equity | — | — | — | — | — | |||||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | |||||||||||||||||||||||||||||
Total | 3 | $ | 4,957 | $ | 4,957 | 3 | $ | 1,282 | ||||||||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Represents the following concessions: extension of term. | |||||||||||||||||||||||||||||||||
-2 | Represents the following concessions: temporary reduction of interest rate. | |||||||||||||||||||||||||||||||||
As of and for the nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||
Restructured Year to Date | TDRs that defaulted year to date that were restructured in prior twelve months | |||||||||||||||||||||||||||||||||
# of | Pre- | Post- | # of | Post- | ||||||||||||||||||||||||||||||
Loans | modification | modification | Loans | modification | ||||||||||||||||||||||||||||||
recorded | recorded | recorded | ||||||||||||||||||||||||||||||||
investment | investment | investment | ||||||||||||||||||||||||||||||||
(Dollars In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial (1) | 2 | $ | 1,807 | $ | 1,807 | — | $ | — | ||||||||||||||||||||||||||
Commercial real estate (2) | 6 | 7,387 | 7,468 | — | — | |||||||||||||||||||||||||||||
Construction and land | — | — | — | — | — | |||||||||||||||||||||||||||||
Residential (3) | 12 | 7,172 | 7,172 | 3 | 1,282 | |||||||||||||||||||||||||||||
Home equity | — | — | — | — | — | |||||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | |||||||||||||||||||||||||||||
Total | 20 | $ | 16,366 | $ | 16,447 | 3 | $ | 1,282 | ||||||||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Represents the following concessions: extension of term. | |||||||||||||||||||||||||||||||||
-2 | Represents the following concessions: extension of term (5 loans; post-modification recorded investment of $4.7 million) and combination of concessions (1 loan; post-modification recorded investment of $2.8 million). | |||||||||||||||||||||||||||||||||
-3 | Represents the following concessions: payment deferral (1 loan; post-modification recorded investment of $1.9 million), temporary reduction of interest rate (10 loans; post-modification recorded investment of $4.0 million), and combination of concessions (1 loan; post-modification recorded investment of $1.3 million). |
Allowance_for_Loan_Losses
Allowance for Loan Losses | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Allowance for Loan Losses [Abstract] | ' | |||||||||||||||
Allowance for Credit Losses [Text Block] | ' | |||||||||||||||
Allowance for Loan Losses | ||||||||||||||||
The allowance for loan losses is reported as a reduction of outstanding loan balances, and totaled $77.2 million and $84.1 million at September 30, 2013 and December 31, 2012, respectively. | ||||||||||||||||
The following tables present a summary of the changes in the allowance for loan losses for the periods indicated: | ||||||||||||||||
As of and for the three months ended September 30, | As of and for the nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||||
Allowance for loan losses, beginning of period: | ||||||||||||||||
Commercial and industrial | $ | 11,883 | $ | 13,243 | $ | 11,825 | $ | 12,163 | ||||||||
Commercial real estate | 48,744 | 64,577 | 52,497 | 63,625 | ||||||||||||
Construction and land | 4,923 | 6,163 | 5,016 | 6,382 | ||||||||||||
Residential | 11,625 | 10,844 | 10,892 | 9,286 | ||||||||||||
Home equity | 1,201 | 1,489 | 1,085 | 1,535 | ||||||||||||
Consumer and other | 412 | 740 | 540 | 1,149 | ||||||||||||
Unallocated | 2,012 | 1,998 | 2,202 | 1,974 | ||||||||||||
Total allowance for loan losses, beginning of period | 80,800 | 99,054 | 84,057 | 96,114 | ||||||||||||
Provision/ (credit) for loan losses: | ||||||||||||||||
Commercial and industrial | (533 | ) | (1,339 | ) | (1,441 | ) | 1,766 | |||||||||
Commercial real estate | (5,719 | ) | (3,035 | ) | (8,266 | ) | (2,147 | ) | ||||||||
Construction and land | (427 | ) | (1,448 | ) | (1,250 | ) | (2,177 | ) | ||||||||
Residential | 549 | 1,659 | 2,687 | 4,498 | ||||||||||||
Home equity | (9 | ) | 69 | 444 | (38 | ) | ||||||||||
Consumer and other | 18 | (38 | ) | (105 | ) | (358 | ) | |||||||||
Unallocated | 121 | 132 | (69 | ) | 156 | |||||||||||
Total provision/ (credit) for loan losses | (6,000 | ) | (4,000 | ) | (8,000 | ) | 1,700 | |||||||||
Loans charged-off: | ||||||||||||||||
Commercial and industrial | (41 | ) | (1,108 | ) | (68 | ) | (3,777 | ) | ||||||||
Commercial real estate | — | (2,339 | ) | (2,339 | ) | (5,606 | ) | |||||||||
Construction and land | — | (710 | ) | (100 | ) | (710 | ) | |||||||||
Residential | — | (1,544 | ) | (1,405 | ) | (2,825 | ) | |||||||||
Home equity | — | (129 | ) | (360 | ) | (129 | ) | |||||||||
Consumer and other | (9 | ) | (19 | ) | (14 | ) | (111 | ) | ||||||||
Total charge-offs | (50 | ) | (5,849 | ) | (4,286 | ) | (13,158 | ) | ||||||||
Recoveries on loans previously charged-off: | ||||||||||||||||
Commercial and industrial | 91 | 794 | 1,084 | 1,438 | ||||||||||||
Commercial real estate | 1,958 | 59 | 3,091 | 3,390 | ||||||||||||
Construction and land | 378 | 1,065 | 1,208 | 1,575 | ||||||||||||
Residential | — | — | — | — | ||||||||||||
Home equity | — | — | 23 | 61 | ||||||||||||
Consumer and other | — | 6 | — | 9 | ||||||||||||
Total recoveries | 2,427 | 1,924 | 5,406 | 6,473 | ||||||||||||
As of and for the three months ended September 30, | As of and for the nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||||
Allowance for loan losses at end of period: | ||||||||||||||||
Commercial and industrial | 11,400 | 11,590 | 11,400 | 11,590 | ||||||||||||
Commercial real estate | 44,983 | 59,262 | 44,983 | 59,262 | ||||||||||||
Construction and land | 4,874 | 5,070 | 4,874 | 5,070 | ||||||||||||
Residential | 12,174 | 10,959 | 12,174 | 10,959 | ||||||||||||
Home equity | 1,192 | 1,429 | 1,192 | 1,429 | ||||||||||||
Consumer and other | 421 | 689 | 421 | 689 | ||||||||||||
Unallocated | 2,133 | 2,130 | 2,133 | 2,130 | ||||||||||||
Total allowance for loan losses at end of period | $ | 77,177 | $ | 91,129 | $ | 77,177 | $ | 91,129 | ||||||||
The following tables present the Company’s allowance for loan losses and loan portfolio at September 30, 2013 and December 31, 2012 by portfolio segment, disaggregated by method of impairment analysis. The Company had no loans acquired with deteriorated credit quality at September 30, 2013 or December 31, 2012. | ||||||||||||||||
Commercial and industrial | Commercial real estate | Construction and land | Residential | |||||||||||||
(In thousands) | ||||||||||||||||
Allowance for loan losses balance at September 30, 2013 attributable to: | ||||||||||||||||
Loans collectively evaluated | $ | 11,147 | $ | 43,475 | $ | 4,080 | $ | 10,428 | ||||||||
Loans individually evaluated | 253 | 1,508 | 794 | 1,746 | ||||||||||||
Total allowance for loan losses | $ | 11,400 | $ | 44,983 | $ | 4,874 | $ | 12,174 | ||||||||
Recorded investment (loan balance) at September 30, 2013: | ||||||||||||||||
Loans collectively evaluated | $ | 783,799 | $ | 1,677,161 | $ | 149,346 | $ | 1,990,196 | ||||||||
Loans individually evaluated | 4,626 | 44,870 | 5,263 | 16,506 | ||||||||||||
Total Loans | $ | 788,425 | $ | 1,722,031 | $ | 154,609 | $ | 2,006,702 | ||||||||
Home equity | Consumer | Unallocated | Total | |||||||||||||
and other | ||||||||||||||||
(Continued from above) | (In thousands) | |||||||||||||||
Allowance for loan losses balance at September 30, 2013 attributable to: | ||||||||||||||||
Loans collectively evaluated | $ | 1,192 | $ | 421 | $ | 2,133 | $ | 72,876 | ||||||||
Loans individually evaluated | — | — | — | 4,301 | ||||||||||||
Total allowance for loan losses | $ | 1,192 | $ | 421 | $ | 2,133 | $ | 77,177 | ||||||||
Recorded investment (loan balance) at September 30, 2013: | ||||||||||||||||
Loans collectively evaluated | $ | 118,005 | $ | 132,354 | $ | — | $ | 4,850,861 | ||||||||
Loans individually evaluated | 89 | 7 | — | 71,361 | ||||||||||||
Total Loans | $ | 118,094 | $ | 132,361 | $ | — | $ | 4,922,222 | ||||||||
Commercial and industrial | Commercial real estate | Construction and land | Residential | |||||||||||||
(In thousands) | ||||||||||||||||
Allowance for loan losses balance at December 31, 2012 attributable to: | ||||||||||||||||
Loans collectively evaluated | $ | 11,707 | $ | 50,830 | $ | 4,827 | $ | 9,489 | ||||||||
Loans individually evaluated | 118 | 1,667 | 189 | 1,403 | ||||||||||||
Total allowance for loan losses | $ | 11,825 | $ | 52,497 | $ | 5,016 | $ | 10,892 | ||||||||
Recorded investment (loan balance) at December 31, 2012: | ||||||||||||||||
Loans collectively evaluated | $ | 801,903 | $ | 1,632,698 | $ | 135,357 | $ | 1,890,213 | ||||||||
Loans individually evaluated | 4,423 | 58,652 | 2,213 | 15,876 | ||||||||||||
Total Loans | $ | 806,326 | $ | 1,691,350 | $ | 137,570 | $ | 1,906,089 | ||||||||
Home equity | Consumer | Unallocated | Total | |||||||||||||
and other | ||||||||||||||||
(Continued from above) | (In thousands) | |||||||||||||||
Allowance for loan losses balance at December 31, 2012 attributable to: | ||||||||||||||||
Loans collectively evaluated | $ | 1,085 | $ | 540 | $ | 2,202 | $ | 80,680 | ||||||||
Loans individually evaluated | — | — | — | 3,377 | ||||||||||||
Total allowance for loan losses | $ | 1,085 | $ | 540 | $ | 2,202 | $ | 84,057 | ||||||||
Recorded investment (loan balance) at December 31, 2012: | ||||||||||||||||
Loans collectively evaluated | $ | 123,191 | $ | 149,250 | $ | — | $ | 4,732,612 | ||||||||
Loans individually evaluated | 360 | — | — | 81,524 | ||||||||||||
Total Loans | $ | 123,551 | $ | 149,250 | $ | — | $ | 4,814,136 | ||||||||
Derivatives_and_Hedging_Activi
Derivatives and Hedging Activities | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' | |||||||||||||||||||||||
Derivatives and Hedging Activities | ||||||||||||||||||||||||
The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities and, to a lesser extent, the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are generally determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to certain fixed and variable rate loan assets and fixed and variable rate borrowings. | ||||||||||||||||||||||||
The following table presents the fair value of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets as of September 30, 2013 and December 31, 2012: | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
Asset derivatives | Liability derivatives | Asset derivatives | Liability derivatives | |||||||||||||||||||||
Balance | Fair value (1) | Balance | Fair value (1) | Balance | Fair value (1) | Balance | Fair value (1) | |||||||||||||||||
sheet | sheet | sheet | sheet | |||||||||||||||||||||
location | location | location | location | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||||||||||||
Interest rate products | Other | $ | — | Other | $ | (4,172 | ) | Other | $ | — | Other | $ | (5,189 | ) | ||||||||||
assets | liabilities | assets | liabilities | |||||||||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||
Interest rate products | Other | 1,742 | Other | (1,807 | ) | Other | 2,915 | Other | (3,047 | ) | ||||||||||||||
assets | liabilities | assets | liabilities | |||||||||||||||||||||
Foreign exchange contracts | Other assets | — | Other | — | Other assets | 120 | Other | (120 | ) | |||||||||||||||
liabilities | liabilities | |||||||||||||||||||||||
Total | $ | 1,742 | $ | (5,979 | ) | $ | 3,035 | $ | (8,356 | ) | ||||||||||||||
___________________ | ||||||||||||||||||||||||
-1 | For additional details, see Part I. Item 1. “Notes to Unaudited Consolidated Financial Statements-Note 5: Fair Value Measurements.” | |||||||||||||||||||||||
The following table presents the effect of the Company’s derivative financial instruments in the consolidated statements of operations for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||
Derivatives in cash | Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | Location of gain or (loss) reclassified from accumulated OCI into income (effective portion) | Amount of gain or (loss) reclassified from accumulated OCI into income (effective portion) | |||||||||||||||||||||
flow hedging | three months ended September 30, | three months ended September 30, | ||||||||||||||||||||||
relationships | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Interest rate products | $ | (1,643 | ) | $ | (641 | ) | Interest income | $ | (553 | ) | $ | (443 | ) | |||||||||||
Total | $ | (1,643 | ) | $ | (641 | ) | $ | (553 | ) | $ | (443 | ) | ||||||||||||
Derivatives in cash | Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | Location of gain or (loss) reclassified from accumulated OCI into income (effective portion) | Amount of gain or (loss) reclassified from accumulated OCI into income (effective portion) | |||||||||||||||||||||
flow hedging | nine months ended September 30, | nine months ended September 30, | ||||||||||||||||||||||
relationships | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Interest rate products | $ | (469 | ) | $ | (1,652 | ) | Interest income | $ | (1,486 | ) | $ | (1,295 | ) | |||||||||||
Total | $ | (469 | ) | $ | (1,652 | ) | $ | (1,486 | ) | $ | (1,295 | ) | ||||||||||||
The following table presents the components of the Company’s accumulated other comprehensive income/ (loss) related to the derivatives for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Accumulated other comprehensive income on cash flow hedges, balance at beginning of period | $ | (1,745 | ) | $ | (3,128 | ) | $ | (2,969 | ) | $ | (3,106 | ) | ||||||||||||
Net change in unrealized gain/ (loss) on cash flow hedges | (648 | ) | (113 | ) | 576 | (135 | ) | |||||||||||||||||
Accumulated other comprehensive income on cash flow hedges, balance at end of period | $ | (2,393 | ) | $ | (3,241 | ) | $ | (2,393 | ) | $ | (3,241 | ) | ||||||||||||
Cash Flow Hedges of Interest Rate Risk | ||||||||||||||||||||||||
The Company’s objective in using derivatives is to add stability to interest income and expense and to manage the risk related to exposure to changes in interest rates. To accomplish this objective, the Holding Company entered into an interest rate swap in the second quarter of 2010 with a notional amount of $75 million related to the Holding Company’s cash outflows associated with the subordinated debt related to trust preferred securities to protect against an increase in the London Interbank Offered Rate (“LIBOR”). The interest rate swap had an effective date of December 30, 2010 and a term of five years. As of December 30, 2010, the subordinated debt switched from a fixed rate of 6.25% to a variable rate of three-month LIBOR plus 1.68%. The interest rate swap effectively fixed the Holding Company’s interest rate payments on the $75 million of debt at 4.45%. | ||||||||||||||||||||||||
The Bank also entered into five interest rate swaps during the first nine months of 2013, each with a notional amount of $25 million. The interest rate swaps have effective dates of August 1, 2013, March 1, 2014, June 1, 2014, September 2, 2014, and December 1, 2014 and have terms ranging from three to six years. The Bank’s risk management objective and strategy for these interest rate swaps is to reduce its exposure to variability in interest-related cash outflows attributable to changes in the LIBOR swap rate associated with borrowing programs for each of the periods, initially expected to be accomplished with LIBOR-indexed brokered deposits, but may also include LIBOR-indexed FHLB advances. The interest rate swaps will effectively fix the Bank’s interest payments on $125 million of its LIBOR-indexed debt at rates between 1.68% and 2.32%, and a weighted average rate of 1.98%. | ||||||||||||||||||||||||
The Company uses the “Hypothetical Derivative Method” described in ASC 815, Derivatives and Hedging (“ASC 815”), for quarterly prospective and retrospective assessments of hedge effectiveness, as well as for measurements of hedge ineffectiveness. Under this method, the Company assesses the effectiveness of each hedging relationship by comparing the changes in cash flows of the derivative hedging instrument with the changes in cash flows of the designated hedged transactions. The effective portion of changes in the fair value of the derivative is initially reported in other comprehensive income (“OCI”) (outside of earnings) and subsequently reclassified to earnings in interest and dividend income when the hedged transactions affect earnings. Ineffectiveness resulting from the hedge is recorded as a gain or loss in the consolidated statement of operations as part of fees and other income. The Company had no hedge ineffectiveness recognized in earnings during the three and nine months ended September 30, 2013 and 2012. The Company also monitors the risk of counterparty default on an ongoing basis. | ||||||||||||||||||||||||
A portion of the balance reported in accumulated other comprehensive income related to derivatives will be reclassified to interest income or expense as interest payments are made or received on the Company’s interest rate swap. During the next twelve months, the Company estimates that $2.6 million will be reclassified as an increase in interest expense. | ||||||||||||||||||||||||
Non-designated Hedges | ||||||||||||||||||||||||
Derivatives not designated as hedges are not speculative and result from two different services the Bank provides to qualified commercial clients. The Bank offers certain derivative products directly to such clients. The Bank economically hedges derivative transactions executed with commercial clients by entering into mirror-image, offsetting derivatives with third parties. Derivative transactions executed as part of these programs are not designated in ASC 815-qualifying hedging relationships and are, therefore, marked-to-market through earnings each period. Because the derivatives have mirror-image contractual terms, the changes in fair value substantially offset through earnings. Fees earned in connection with the execution of derivatives related to this program are recognized in the consolidated statement of operations in other income. The derivative asset and liability values above include an adjustment related to the consideration of credit risk required under ASC 820, of less than $0.1 million in earnings for the three and nine months ended September 30, 2013 and 2012, respectively. As of September 30, 2013 and December 31, 2012, the Bank had six and 11 interest rate swaps with an aggregate notional amount of $24.8 million and $55.7 million, respectively, related to this program. As of September 30, 2013, the Bank had no foreign currency exchange contracts outstanding related to this program. As of December 31, 2012, the Bank had six foreign currency exchange contracts with notional amounts of $3.7 million related to this program. | ||||||||||||||||||||||||
The following table presents the effect of the Bank’s derivative financial instruments, not designated as hedging instruments, in the consolidated statement of operations for the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||||||||||
Amount of gain or (loss), net, recognized in income on derivatives | ||||||||||||||||||||||||
Derivatives not | Location of gain or (loss) recognized in income on derivative | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||
designated as hedging | ||||||||||||||||||||||||
instruments | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Interest rate products | Other income/ (expense) | $ | (5 | ) | $ | (21 | ) | $ | 14 | $ | 62 | |||||||||||||
Foreign exchange contracts | Other income/ (expense) | 3 | 4 | 8 | 5 | |||||||||||||||||||
Total | $ | (2 | ) | $ | (17 | ) | $ | 22 | $ | 67 | ||||||||||||||
The Holding Company and the Bank have agreements with their derivative counterparties that contain provisions where, if the Holding Company or Bank defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Holding Company or the Bank could also be declared in default on its derivative obligations. The Holding Company and the Bank were in compliance with these provisions as of September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||
The Holding Company and the Bank also have agreements with certain of their derivative counterparties that contain provisions where, if the Holding Company or Bank fails to maintain its status as a well- or adequately-capitalized institution, then the counterparty could terminate the derivative positions and the Holding Company or the Bank would be required to settle its obligations under the agreements. The Holding Company and the Bank were in compliance with these provisions as of September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||
Certain of the Holding Company and the Bank’s agreements with their derivative counterparties contain provisions where, if specified events or conditions occur that materially change the Holding Company’s or the Bank’s creditworthiness in an adverse manner, the Holding Company or the Bank may be required to fully collateralize their obligations under the derivative instruments. The Holding Company and the Bank were in compliance with these provisions as of September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||
As of September 30, 2013 and December 31, 2012, the termination amounts related to collateral determinations of derivatives in a liability position was $6.4 million and $8.4 million, respectively. The Company has minimum collateral posting thresholds with its derivative counterparty and has posted collateral of $7.3 million and $10.4 million as of September 30, 2013 and December 31, 2012, respectively, against its obligation under this agreement. |
Income_Taxes
Income Taxes | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Income Tax Disclosure [Abstract] | ' | |||||||
Income Tax Disclosure [Text Block] | ' | |||||||
Income Taxes | ||||||||
The following table presents the components of income tax expense for continuing operations, discontinued operations, noncontrolling interests and the Company: | ||||||||
Nine months ended September 30, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Income from continuing operations: | ||||||||
Income before income taxes | $ | 74,818 | $ | 50,985 | ||||
Income tax expense | 25,005 | 14,215 | ||||||
Net income from continuing operations | $ | 49,813 | $ | 36,770 | ||||
Effective tax rate, continuing operations | 33.4 | % | 27.9 | % | ||||
Income from discontinued operations: | ||||||||
Income before income taxes | $ | 10,353 | $ | 6,999 | ||||
Income tax expense | 4,529 | 1,183 | ||||||
Net income from discontinued operations | $ | 5,824 | $ | 5,816 | ||||
Effective tax rate, discontinued operations | 43.7 | % | 16.9 | % | ||||
Less: Income attributable to noncontrolling interests: | ||||||||
Income before income taxes | $ | 2,770 | $ | 2,407 | ||||
Income tax expense | — | — | ||||||
Net income attributable to noncontrolling interests | $ | 2,770 | $ | 2,407 | ||||
Effective tax rate, noncontrolling interests | — | % | — | % | ||||
Income attributable to the Company | ||||||||
Income before income taxes | $ | 82,401 | $ | 55,577 | ||||
Income tax expense | 29,534 | 15,398 | ||||||
Net income attributable to the Company | $ | 52,867 | $ | 40,179 | ||||
Effective tax rate attributable to the Company | 35.8 | % | 27.7 | % | ||||
The effective tax rate for continuing operations for the nine months ended September 30, 2013 of 33.4%, with related tax expense of $25.0 million, was calculated based on a projected 2013 annual effective tax rate. The effective tax rate was less than the statutory rate of 35% due primarily to earnings from tax-exempt investments, income tax credits, and income attributable to noncontrolling interests. These items were partially offset by state and local income taxes and an increase in unrecognized tax benefits. | ||||||||
The effective tax rate for continuing operations for the nine months ended September 30, 2012 of 27.9%, with related tax expense of $14.2 million, was calculated based on a projected 2012 annual effective tax rate. The effective tax rate was less than the statutory rate of 35% due primarily to earnings from tax-exempt investments, income tax credits, and income attributable to noncontrolling interests. These items were partially offset by state and local income taxes. | ||||||||
The effective tax rate for continuing operations for the nine months ended September 30, 2013 is greater than the effective tax rate for the same period in 2012 due primarily to an increase in unrecognized tax benefits, an increase in state and local income taxes, and a higher level of income before taxes in 2013 as compared to 2012. | ||||||||
As of September 30, 2013, the Company’s gross amount of unrecognized tax benefits is $2.0 million and the net amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate is $1.2 million. During the nine months ended September 30, 2013, the Company’s gross amount of unrecognized tax benefits decreased by $2.8 million, from $4.8 million at December 31, 2012, to $2.0 million at September 30, 2013. The $2.8 million decrease includes the release of $4.3 million of timing-related uncertainties as a result of the Company filing an accounting method change for income tax purposes, net against a $1.5 million increase related primarily to a change in the interpretation of tax law with respect to certain tax positions taken on previously filed tax returns. The Company believes it is reasonably possible that the gross amount of unrecognized tax benefits may decrease within the next twelve months by $1.5 million as a result of settlements with state taxing authorities. | ||||||||
Contingent consideration related to the 2009 and 2012 divestiture of certain affiliates, primarily related to the revenue sharing agreement with Westfield Capital Management Company, LLC, is also reflected under “discontinued operations” in the table above. The profits and losses attributable to owners other than the Company are reflected under “noncontrolling interests” in the table above. |
Noncontrolling_Interests
Noncontrolling Interests | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Noncontrolling Interest [Abstract] | ' | |||||||
Noncontrolling Interest Disclosure [Text Block] | ' | |||||||
Noncontrolling Interests | ||||||||
At the Company, noncontrolling interests typically consist of equity owned by management of the Company’s respective majority-owned affiliates. Net income attributable to noncontrolling interests in the consolidated statements of operations represents the net income allocated to the noncontrolling interest owners of the affiliates. Net income allocated to the noncontrolling interest owners was $0.9 million for each of the three month periods ended September 30, 2013 and 2012, and $2.8 million and $2.4 million for the nine months ended September 30, 2013 and 2012, respectively. | ||||||||
On the consolidated balance sheets, noncontrolling interests are included as the sum of the capital and undistributed profits allocated to the noncontrolling interest owners. Typically, this balance is included in a company’s permanent shareholders’ equity in the consolidated balance sheets. When the noncontrolling interest owners’ rights include certain redemption features, as described in ASC 480, Distinguishing Liabilities from Equity, such redeemable noncontrolling interests are classified as mezzanine equity and are not included in permanent shareholders’ equity. Due to the redemption features of the noncontrolling interests, the Company had redeemable noncontrolling interests held in mezzanine equity in the accompanying consolidated balance sheets of of $17.2 million and $19.3 million at September 30, 2013 and December 31, 2012, respectively. The aggregate amount of such redeemable noncontrolling equity interests are recorded at the estimated maximum redemption values. In addition, as discussed below, the Company had $0.1 million noncontrolling interests included in permanent shareholder’s equity at September 30, 2013. | ||||||||
Each non-wholly owned affiliate operating agreement provides the Company and/or the noncontrolling interests with contingent call or put redemption features used for the orderly transfer of noncontrolling equity interests between the affiliate noncontrolling interest owners and the Company at either a contractually predetermined fair value, multiple of earnings before interest, taxes, depreciation, and amortization (EBITDA), or fair value. The Company may liquidate these noncontrolling interests in cash, shares of the Company’s common stock, or other forms of consideration dependent on the operating agreement. These agreements are discussed in Part II. Item 8. “Financial Statements and Supplementary Data – Note 14: Noncontrolling Interests” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | ||||||||
Generally, these put and call redemption features refer to shareholder rights of both the Company and the noncontrolling interest owners of the Company’s majority-owned affiliate companies. The affiliate company noncontrolling interests generally take the form of limited liability company (LLC) units, profits interests, or common stock (collectively, the “noncontrolling equity interests”). In most circumstances, the put and call redemption features generally relate to the Company’s right and, in some cases, obligation to purchase and the noncontrolling equity interests’ right to sell their equity interests. There are various events that could cause the puts or calls to be exercised, such as a change in control, death, disability, retirement, resignation or termination. The puts and calls are generally to be exercised at the then fair value or a contractually agreed upon approximation thereof. The terms of these rights vary and are governed by the respective individual operating and legal documents. | ||||||||
During the second quarter of 2013, the Company sold certain repurchased noncontrolling interests to principals at Anchor with modified contingent call and put redemption features. These modified noncontrolling interests have the same terms and conditions as the previously issued noncontrolling interests with the exception that they require the approval of the Company’s CEO in order to be exercised. Therefore, these modified noncontrolling interests are not considered to be mandatorily redeemable and are not included in the redeemable noncontrolling interests within mezzanine equity, but rather within permanent equity. | ||||||||
The following table presents the contractually determined maximum redemption values to repurchase the noncontrolling interests at the periods indicated: | ||||||||
September 30, 2013 | December 31, 2012 | |||||||
(In thousands) | ||||||||
Anchor | $ | 10,919 | $ | 11,105 | ||||
BOS | 4,206 | 5,782 | ||||||
DGHM | 2,238 | 2,400 | ||||||
Total | $ | 17,363 | $ | 19,287 | ||||
Redeemable noncontrolling interests | $ | 17,224 | $ | 19,287 | ||||
Noncontrolling interests | $ | 139 | $ | — | ||||
The following table presents an analysis of the Company’s redeemable noncontrolling interests for the periods indicated: | ||||||||
Nine months ended September 30, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Redeemable noncontrolling interests at beginning of year | $ | 19,287 | $ | 21,691 | ||||
Net income attributable to noncontrolling interests | 2,770 | 2,407 | ||||||
Distributions | (2,341 | ) | (3,168 | ) | ||||
DTC disposition | — | (1,470 | ) | |||||
Adjustments to fair value | (2,492 | ) | 215 | |||||
Redeemable noncontrolling interests at end of period | $ | 17,224 | $ | 19,675 | ||||
Equity_Notes
Equity (Notes) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Class of Stock [Line Items] | ' | |||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | |||||||
Equity | ||||||||
On April 24, 2013, the Company closed the public offering of 2,000,000 depositary shares (the “Depositary Shares”) pursuant to an Underwriting Agreement dated April 17, 2013, previously disclosed by the Company. Each Depositary Share represents a 1/40th interest in a share of the Company’s 6.95% Non-Cumulative Perpetual Preferred Stock, Series D, par value $1.00 per share and liquidation preference of $1,000 per share (the “Series D preferred stock”). The Company received $47.8 million from the issuance, after issuance costs. | ||||||||
Upon the issuance of the Series D preferred stock on April 24, 2013, the ability of the Company to declare and pay dividends on, or purchase, redeem or otherwise acquire, shares of its preferred stock or any securities of the Company that rank junior to the Series D preferred stock was subject to certain restrictions in the event that the Company does not declare and pay (or set aside) dividends on the Series D preferred stock for the last preceding quarterly dividend period. | ||||||||
Also on April 24, 2013, the Company repurchased all 400.81221 shares of the Company’s Series B Non-Cumulative Perpetual Contingent Convertible Preferred Stock, par value $1.00 per share (the “Series B preferred stock”), held by BP Holdco, L.P., a subsidiary of The Carlyle Group, L.P., pursuant to a Stock Repurchase Agreement, dated as of April 16, 2013, previously disclosed by the Company. | ||||||||
The following table presents the details of the classes of preferred stock outstanding as of the dates indicated: | ||||||||
September 30, 2013 | December 31, 2012 | |||||||
(Dollars in thousands) | ||||||||
Preferred stock, $1.00 par value; authorized: 2,000,000 shares: | ||||||||
Series B, issued and outstanding (contingently convertible): 0 shares at September 30, 2013 and 401 shares at December 31, 2012; liquidation value: $100,000 per share | $ | — | $ | 58,089 | ||||
Series D, 6.95% Non-Cumulative Perpetual, issued and outstanding: 50,000 shares at September 30, 2013, 0 shares at December 31, 2012; liquidation preference: $1,000 per share | 47,753 | — | ||||||
Total preferred stock | $ | 47,753 | $ | 58,089 | ||||
Restructuring
Restructuring | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||||||||||||
Restructuring and Related Activities Disclosure [Text Block] | ' | |||||||||||||||||||
Restructuring | ||||||||||||||||||||
On May 27, 2011, the Company completed the merger of its four private banks, operating in the New England, San Francisco Bay, Southern California and Pacific Northwest markets, under a single Massachusetts charter. During this period of restructuring, the Company sought to reduce expenses by simplifying the portfolio businesses, streamlining the Holding Company structure, while incurring certain merger-related expenses such as severance charges, costs to terminate contracts, legal, audit and consulting costs, and other costs. The Company had substantially completed the merger-related restructuring as planned in the first half of 2012. | ||||||||||||||||||||
During the second half of 2012, the Company implemented a senior executive restructuring of the Holding Company leadership and Bank management. The purpose of this restructuring was to create a more streamlined organization and to refine the Company’s cost base. To implement the new structure the Company incurred an additional severance charge of $4.8 million, all during the second half of 2012. The Company expects no additional severance charges associated with this initiative. | ||||||||||||||||||||
Restructuring expenses incurred since the plans of restructuring were first implemented in 2011 totaled $14.0 million with the Private Banking segment incurring $9.5 million, and the remaining $4.5 million incurred by the Holding Company. | ||||||||||||||||||||
The following table presents a summary of the restructuring activity for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||
Severance Charges | Contract Termination Fees | Professional Expenses | Other Associated Costs | Total | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Accrued charges at December 31, 2011 | $ | 2,658 | $ | 211 | $ | 230 | $ | — | $ | 3,099 | ||||||||||
Costs incurred | (1 | ) | — | 128 | 8 | 135 | ||||||||||||||
Costs paid | (459 | ) | — | (254 | ) | (8 | ) | (721 | ) | |||||||||||
Accrued charges at March 31, 2012 | 2,198 | 211 | 104 | — | 2,513 | |||||||||||||||
Costs incurred | 22 | 255 | 183 | 104 | 564 | |||||||||||||||
Costs paid | (1,039 | ) | (255 | ) | (287 | ) | (104 | ) | (1,685 | ) | ||||||||||
Accrued charges at June 30, 2012 | 1,181 | 211 | — | — | 1,392 | |||||||||||||||
Costs incurred | 3,409 | 147 | 22 | 3 | 3,581 | |||||||||||||||
Costs paid | (577 | ) | (260 | ) | (22 | ) | (3 | ) | (862 | ) | ||||||||||
Accrued charges at September 30, 2012 | $ | 4,013 | $ | 98 | $ | — | $ | — | $ | 4,111 | ||||||||||
Accrued charges at December 31, 2012 | $ | 3,517 | $ | 98 | $ | 8 | $ | — | $ | 3,623 | ||||||||||
Costs incurred | — | — | — | — | — | |||||||||||||||
Costs paid | (736 | ) | — | (8 | ) | — | (744 | ) | ||||||||||||
Accrued charges at March 31, 2013 | 2,781 | 98 | — | — | 2,879 | |||||||||||||||
Costs incurred | — | — | — | — | — | |||||||||||||||
Costs paid | (976 | ) | — | — | — | (976 | ) | |||||||||||||
Accrued charges at June 30, 2013 | 1,805 | 98 | — | — | 1,903 | |||||||||||||||
Costs incurred | — | — | — | — | — | |||||||||||||||
Costs paid | (1,006 | ) | — | — | — | (1,006 | ) | |||||||||||||
Accrued charges at September 30, 2013 | $ | 799 | $ | 98 | $ | — | $ | — | $ | 897 | ||||||||||
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | ' |
Recent Accounting Pronouncements | |
In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. The amendments to this update require entities to present information about reclassifications out of accumulated other comprehensive income in a single note or on the face of the financial statements. The new guidance was effective for fiscal years, and interim periods within those years, beginning after December 15, 2012, with early adoption permitted. The Company did not early adopt. The adoption of this ASU did not have a material effect on the Company’s consolidated financial statements. | |
In July 2012, the FASB issued updated guidance, ASU 2012-02, Intangibles - Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment. The amendments in this update regarding the impairment testing applicable to indefinite-lived intangible assets, is similar to the impairment guidance issued in ASU 2011-08, Intangibles - Goodwill and Other (Topic 350): Testing Goodwill for Impairment, applicable to goodwill. Under the updated guidance, an entity may assess qualitative factors (such as changes in management, key personnel, strategy, key technology or customers) that may impact the fair value of the indefinite-lived intangible asset and lead to the determination that it is more likely than not that the fair value of the asset is less than its carrying value. If an entity determines that it is more likely than not that the fair value of the intangible asset is less than its carrying value, an impairment test must be performed. The impairment test requires an entity to calculate the estimated fair value of the indefinite-lived intangible asset. If the carrying value of the indefinite-lived intangible asset exceeds its estimated fair value, an impairment loss is recognized in an amount equal to the excess. The updated guidance is effective for annual and interim indefinite-lived intangible asset impairment tests performed for fiscal years beginning after September 15, 2012 and early adoption is permitted provided the company has not yet performed its 2012 impairment test or issued its financial statements. The Company did not early adopt. The adoption of this ASU did not have a material effect on the Company’s consolidated financial statements. | |
In December 2011, the FASB issued new guidance, ASU 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities and in January 2013, the FASB issued ASU 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. ASU 2011-11 requires entities to disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. ASU 2013-01 limits the scope of disclosures to derivatives, repurchase agreements and securities lending arrangements. The new guidance is effective for fiscal years, and interim periods within those years, beginning after January 1, 2013 and requires a retrospective application for all comparative periods which are presented. The adoption of these ASUs did not have a material effect on the Company’s consolidated financial statements. |
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
Subsequent Events | |
The Company evaluated subsequent events through the date the accompanying unaudited interim consolidated financial statements were issued. Pursuant to the requirements of ASC 855, Subsequent Events, there were no events or transactions during the subsequent event reporting period that required disclosure in the unaudited consolidated interim financial statements. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | ' | |||||||||||||||
The following tables present the computations of basic and diluted EPS: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands, except share and per share data) | ||||||||||||||||
Basic earnings/ (loss) per share - Numerator: | ||||||||||||||||
Net income from continuing operations | $ | 17,886 | $ | 15,696 | $ | 49,813 | $ | 36,770 | ||||||||
Less: Net income attributable to noncontrolling interests | 871 | 855 | 2,770 | 2,407 | ||||||||||||
Net income from continuing operations attributable to the Company | 17,015 | 14,841 | 47,043 | 34,363 | ||||||||||||
Decrease/ (increase) in noncontrolling interests’ redemption values (1) | 274 | (344 | ) | 162 | (267 | ) | ||||||||||
Dividends on participating securities (2) | (939 | ) | (91 | ) | (13,752 | ) | (275 | ) | ||||||||
Total adjustments to income attributable to common shareholders | (665 | ) | (435 | ) | (13,590 | ) | (542 | ) | ||||||||
Net income from continuing operations attributable to common shareholders, before allocation to participating securities | 16,350 | 14,406 | 33,453 | 33,821 | ||||||||||||
Less: Amount allocated to participating securities | (143 | ) | (1,454 | ) | (1,069 | ) | (3,411 | ) | ||||||||
Net income from continuing operations attributable to common shareholders, after allocation to participating securities | $ | 16,207 | $ | 12,952 | $ | 32,384 | $ | 30,410 | ||||||||
Net income from discontinued operations, before allocation to participating securities | $ | 1,321 | $ | 1,672 | $ | 5,824 | $ | 5,816 | ||||||||
Less: Amount allocated to participating securities | (17 | ) | (178 | ) | (309 | ) | (629 | ) | ||||||||
Net income from discontinued operations, after allocation to participating securities | $ | 1,304 | $ | 1,494 | $ | 5,515 | $ | 5,187 | ||||||||
Net income attributable to common shareholders, before allocation to participating securities | $ | 17,671 | $ | 16,078 | $ | 39,277 | $ | 39,637 | ||||||||
Less: Amount allocated to participating securities | (160 | ) | (1,632 | ) | (1,378 | ) | (4,040 | ) | ||||||||
Net income attributable to common shareholders, after allocation to participating securities | $ | 17,511 | $ | 14,446 | $ | 37,899 | $ | 35,597 | ||||||||
Basic earnings/ (loss) per share - Denominator: | ||||||||||||||||
Weighted average basic common shares outstanding | 77,670,017 | 76,290,382 | 77,249,660 | 75,911,520 | ||||||||||||
Per share data - Basic earnings/ (loss) per share from: | ||||||||||||||||
Continuing operations | $ | 0.21 | $ | 0.17 | $ | 0.42 | $ | 0.4 | ||||||||
Discontinued operations | $ | 0.02 | $ | 0.02 | $ | 0.07 | $ | 0.07 | ||||||||
Total attributable to common shareholders | $ | 0.23 | $ | 0.19 | $ | 0.49 | $ | 0.47 | ||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands, except share and per share data) | ||||||||||||||||
Diluted earnings/ (loss) per share - Numerator: | ||||||||||||||||
Net income from continuing operations attributable to common shareholders, after allocation to participating securities | $ | 16,207 | $ | 12,952 | $ | 32,384 | $ | 30,410 | ||||||||
Add back: income allocated to dilutive securities | — | — | — | — | ||||||||||||
Net income from continuing operations attributable to common shareholders, after allocation to participating securities, after assumed dilution | 16,207 | 12,952 | 32,384 | 30,410 | ||||||||||||
Net income from discontinued operations, after allocation to participating securities | 1,304 | 1,494 | 5,515 | 5,187 | ||||||||||||
Net income attributable to common shareholders, after allocation to participating securities, after assumed dilution | $ | 17,511 | $ | 14,446 | $ | 37,899 | $ | 35,597 | ||||||||
Diluted earnings/ (loss) per share - Denominator: | ||||||||||||||||
Weighted average basic common shares outstanding | 77,670,017 | 76,290,382 | 77,249,660 | 75,911,520 | ||||||||||||
Dilutive effect of: | ||||||||||||||||
Stock options and performance-based restricted stock (3) | 708,745 | 621,308 | 604,893 | 531,523 | ||||||||||||
Warrants to purchase common stock (3) | 814,986 | 455,921 | 633,617 | 371,160 | ||||||||||||
Dilutive common shares | 1,523,731 | 1,077,229 | 1,238,510 | 902,683 | ||||||||||||
Weighted average diluted common shares outstanding (3) | 79,193,748 | 77,367,611 | 78,488,170 | 76,814,203 | ||||||||||||
Per share data - Diluted earnings/ (loss) per share from: | ||||||||||||||||
Continuing operations | $ | 0.2 | $ | 0.17 | $ | 0.41 | $ | 0.39 | ||||||||
Discontinued operations | $ | 0.02 | $ | 0.02 | $ | 0.07 | $ | 0.07 | ||||||||
Total attributable to common shareholders | $ | 0.22 | $ | 0.19 | $ | 0.48 | $ | 0.46 | ||||||||
Dividends per share declared on common stock | $ | 0.07 | $ | 0.01 | $ | 0.17 | $ | 0.03 | ||||||||
_____________________ | ||||||||||||||||
-1 | See Part II. Item 8. “Financial Statements and Supplementary Data—Note 14: Noncontrolling Interests” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 for a description of the redemption values related to the redeemable noncontrolling interests. In accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”), an increase in redemption value from period to period reduces income attributable to common shareholders. Decreases in redemption value from period to period increase income attributable to common shareholders, but only to the extent that the cumulative change in redemption value remains a cumulative increase since adoption of this standard in the first quarter of 2009. | |||||||||||||||
-2 | Consideration paid in excess of carrying value for the repurchase of the Series B preferred stock of $11.7 million is considered a deemed dividend and, for purposes of calculating EPS, reduces net income attributable to common shareholders for the nine months ended September 30, 2013. | |||||||||||||||
-3 | The diluted EPS computations for the three and nine months ended September 30, 2013 and 2012 do not assume the conversion, exercise, or contingent issuance of the following shares for these periods because the result would have been anti-dilutive for the periods indicated. As a result of the anti-dilution, the potential common shares excluded from the diluted EPS computation are as follows: | |||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Shares excluded due to anti-dilution (treasury method): | (In thousands) | |||||||||||||||
Potential common shares from: | ||||||||||||||||
Convertible trust preferred securities (a) | 1 | 784 | 1 | 784 | ||||||||||||
Total shares excluded due to anti-dilution | 1 | 784 | 1 | 784 | ||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Shares excluded due to exercise price exceeding the average market price of common shares during the period (total outstanding): | (In thousands) | |||||||||||||||
Potential common shares from: | ||||||||||||||||
Stock options or other dilutive securities (b) | 1,214 | 2,102 | 1,446 | 2,180 | ||||||||||||
Total shares excluded due to exercise price exceeding the average market price of common shares during the period | 1,214 | 2,102 | 1,446 | 2,180 | ||||||||||||
(a) | If the effect of the conversion of the trust preferred securities would have been dilutive, interest expense, net of tax, related to the convertible trust preferred securities of $0.2 million and $0.8 million for the three and nine months ended September 30, 2012, respectively, would have been added back to net income attributable to common shareholders for diluted EPS computations for the period presented. None would be added back for the three or nine months ended September 30, 2013. | |||||||||||||||
(b) | Options to purchase shares of common stock and other dilutive securities that were outstanding at period ends were not included in the computation of diluted EPS or in the above anti-dilution table because their exercise or conversion prices were greater than the average market price of the common shares during the respective periods. |
Reportable_Segments_Tables
Reportable Segments (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||||||||||||
The following tables present a reconciliation of the revenues, profits, assets, and other significant items of reportable segments as of and for the three and nine months ended September 30, 2013 and 2012. Interest expense on junior subordinated debentures is reported at the Holding Company. | ||||||||||||||||||||||||
Three months ended September 30, | ||||||||||||||||||||||||
Net interest income | Non-interest income | Total revenues | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Total Bank | $ | 43,371 | $ | 47,812 | $ | 8,873 | $ | 7,937 | $ | 52,244 | $ | 55,749 | ||||||||||||
Total Investment Managers | 5 | 6 | 10,518 | 10,043 | 10,523 | 10,049 | ||||||||||||||||||
Total Wealth Advisors | 15 | 6 | 10,698 | 9,494 | 10,713 | 9,500 | ||||||||||||||||||
Total Segments | 43,391 | 47,824 | 30,089 | 27,474 | 73,480 | 75,298 | ||||||||||||||||||
Holding Company and Eliminations | (1,089 | ) | (1,458 | ) | 5 | 1,130 | (1,084 | ) | (328 | ) | ||||||||||||||
Total Company | $ | 42,302 | $ | 46,366 | $ | 30,094 | $ | 28,604 | $ | 72,396 | $ | 74,970 | ||||||||||||
Three months ended September 30, | ||||||||||||||||||||||||
Non-interest expense (1) | Income tax expense | Net income from | ||||||||||||||||||||||
continuing operations | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Total Bank | $ | 32,717 | $ | 36,785 | $ | 8,774 | $ | 8,133 | $ | 16,753 | $ | 14,831 | ||||||||||||
Total Investment Managers | 8,376 | 7,841 | 714 | 748 | 1,433 | 1,460 | ||||||||||||||||||
Total Wealth Advisors | 7,341 | 6,806 | 1,282 | 996 | 2,090 | 1,698 | ||||||||||||||||||
Total Segments | 48,434 | 51,432 | 10,770 | 9,877 | 20,276 | 17,989 | ||||||||||||||||||
Holding Company and Eliminations | 3,519 | 6,718 | (2,213 | ) | (4,753 | ) | (2,390 | ) | (2,293 | ) | ||||||||||||||
Total Company | $ | 51,953 | $ | 58,150 | $ | 8,557 | $ | 5,124 | $ | 17,886 | $ | 15,696 | ||||||||||||
Three months ended September 30, | ||||||||||||||||||||||||
Net income | Net income | Amortization of intangibles | ||||||||||||||||||||||
attributable to | attributable to | |||||||||||||||||||||||
noncontrolling interests | the Company (2) | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Total Bank | $ | — | $ | — | $ | 16,753 | $ | 14,831 | $ | 69 | $ | 26 | ||||||||||||
Total Investment Managers | 438 | 444 | 995 | 1,016 | 739 | 800 | ||||||||||||||||||
Total Wealth Advisors | 433 | 411 | 1,657 | 1,287 | 248 | 256 | ||||||||||||||||||
Total Segments | 871 | 855 | 19,405 | 17,134 | 1,056 | 1,082 | ||||||||||||||||||
Holding Company and Eliminations | — | — | (1,069 | ) | (621 | ) | — | — | ||||||||||||||||
Total Company | $ | 871 | $ | 855 | $ | 18,336 | $ | 16,513 | $ | 1,056 | $ | 1,082 | ||||||||||||
As of September 30, | Three months ended September 30, | |||||||||||||||||||||||
Assets | AUM (3) | Depreciation | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(In thousands) | (In millions) | (In thousands) | ||||||||||||||||||||||
Total Bank | $ | 6,090,343 | $ | 6,071,302 | $ | 4,263 | $ | 3,784 | $ | 1,282 | $ | 1,496 | ||||||||||||
Total Investment Managers | 101,981 | 105,349 | 9,697 | 8,553 | 58 | 59 | ||||||||||||||||||
Total Wealth Advisors | 71,172 | 71,936 | 8,809 | 7,797 | 89 | 91 | ||||||||||||||||||
Total Segments | 6,263,496 | 6,248,587 | 22,769 | 20,134 | 1,429 | 1,646 | ||||||||||||||||||
Holding Company and Eliminations | 11,443 | 24,197 | (21 | ) | (20 | ) | 76 | 58 | ||||||||||||||||
Total Company | $ | 6,274,939 | $ | 6,272,784 | $ | 22,748 | $ | 20,114 | $ | 1,505 | $ | 1,704 | ||||||||||||
Nine months ended September 30, | ||||||||||||||||||||||||
Net interest income | Non-interest income (4) | Total revenues | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Total Bank | $ | 133,738 | $ | 142,467 | $ | 38,078 | $ | 24,233 | $ | 171,816 | $ | 166,700 | ||||||||||||
Total Investment Managers | 15 | 21 | 31,480 | 29,110 | 31,495 | 29,131 | ||||||||||||||||||
Total Wealth Advisors | 51 | 19 | 31,081 | 27,900 | 31,132 | 27,919 | ||||||||||||||||||
Total Segments | 133,804 | 142,507 | 100,639 | 81,243 | 234,443 | 223,750 | ||||||||||||||||||
Holding Company and Eliminations | (3,327 | ) | (4,777 | ) | 907 | 2,824 | (2,420 | ) | (1,953 | ) | ||||||||||||||
Total Company | $ | 130,477 | $ | 137,730 | $ | 101,546 | $ | 84,067 | $ | 232,023 | $ | 221,797 | ||||||||||||
Nine months ended September 30, | ||||||||||||||||||||||||
Non-interest expense (1) | Income tax expense | Net income from | ||||||||||||||||||||||
continuing operations | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Total Bank | $ | 103,857 | $ | 108,030 | $ | 26,190 | $ | 19,312 | $ | 49,769 | $ | 37,658 | ||||||||||||
Total Investment Managers | 24,422 | 23,351 | 2,329 | 1,977 | 4,744 | 3,803 | ||||||||||||||||||
Total Wealth Advisors | 21,809 | 20,334 | 3,463 | 2,771 | 5,860 | 4,814 | ||||||||||||||||||
Total Segments | 150,088 | 151,715 | 31,982 | 24,060 | 60,373 | 46,275 | ||||||||||||||||||
Holding Company and Eliminations | 15,117 | 17,397 | (6,977 | ) | (9,845 | ) | (10,560 | ) | (9,505 | ) | ||||||||||||||
Total Company | $ | 165,205 | $ | 169,112 | $ | 25,005 | $ | 14,215 | $ | 49,813 | $ | 36,770 | ||||||||||||
Nine months ended September 30, | ||||||||||||||||||||||||
Net income | Net income | Amortization of intangibles | ||||||||||||||||||||||
attributable to | attributable to | |||||||||||||||||||||||
noncontrolling interests | the Company (2) | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Total Bank | $ | — | $ | — | $ | 49,769 | $ | 37,658 | $ | 210 | $ | 79 | ||||||||||||
Total Investment Managers | 1,425 | 1,184 | 3,319 | 2,619 | 2,319 | 2,401 | ||||||||||||||||||
Total Wealth Advisors | 1,345 | 1,223 | 4,515 | 3,591 | 746 | 783 | ||||||||||||||||||
Total Segments | 2,770 | 2,407 | 57,603 | 43,868 | 3,275 | 3,263 | ||||||||||||||||||
Holding Company and Eliminations | — | — | (4,736 | ) | (3,689 | ) | — | — | ||||||||||||||||
Total Company | $ | 2,770 | $ | 2,407 | $ | 52,867 | $ | 40,179 | $ | 3,275 | $ | 3,263 | ||||||||||||
Nine months ended September 30, | ||||||||||||||||||||||||
Depreciation | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Total Bank | $ | 4,050 | $ | 4,364 | ||||||||||||||||||||
Total Investment Managers | 164 | 189 | ||||||||||||||||||||||
Total Wealth Advisors | 277 | 269 | ||||||||||||||||||||||
Total Segments | 4,491 | 4,822 | ||||||||||||||||||||||
Holding Company and Eliminations | 167 | 148 | ||||||||||||||||||||||
Total Company | $ | 4,658 | $ | 4,970 | ||||||||||||||||||||
___________________ | ||||||||||||||||||||||||
-1 | Non-interest expense for the three and nine months ended September 30, 2013 includes no restructuring expense. Non-interest expense for the three and nine months ended September 30, 2012 includes $3.6 million and $4.3 million, respectively, of restructuring expense. Restructuring expenses were incurred in the Private Banking segment as well as at the Holding Company. | |||||||||||||||||||||||
-2 | Net income from discontinued operations for the three months ended September 30, 2013, and 2012 of $1.3 million, and $1.7 million, respectively, and for the nine months ended September 30, 2013, and 2012, of $5.8 million and $5.8 million, respectively, are included in Holding Company and Eliminations in the calculation of net income attributable to the Company. | |||||||||||||||||||||||
-3 | “AUM” represents Assets Under Management and Advisory at the affiliates. AUM at DTC have been removed since DTC operations are classified with discontinued operations. | |||||||||||||||||||||||
-4 | Included in Bank non-interest income for the nine months ended September 30, 2013 is the $10.6 million gain on sale of its three offices in the Pacific Northwest region. |
Investments_Tables
Investments (Tables) | 9 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||
Investments [Abstract] | ' | ||||||||||||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | ' | ||||||||||||||||||||||||||
The following table presents a summary of investment securities: | |||||||||||||||||||||||||||
Amortized | Unrealized | Fair | |||||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||
Available for sale securities at fair value: | |||||||||||||||||||||||||||
U.S. government and agencies | $ | 2,309 | $ | 19 | $ | (29 | ) | $ | 2,299 | ||||||||||||||||||
Government-sponsored entities | 222,522 | 362 | (941 | ) | 221,943 | ||||||||||||||||||||||
Municipal bonds | 216,361 | 1,423 | (1,818 | ) | 215,966 | ||||||||||||||||||||||
Mortgage-backed securities (1) | 248,502 | 2,722 | (3,986 | ) | 247,238 | ||||||||||||||||||||||
Other | 15,274 | 231 | (7 | ) | 15,498 | ||||||||||||||||||||||
Total | $ | 704,968 | $ | 4,757 | $ | (6,781 | ) | $ | 702,944 | ||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||
Available for sale securities at fair value: | |||||||||||||||||||||||||||
U.S. government and agencies | $ | 2,781 | $ | — | $ | (28 | ) | $ | 2,753 | ||||||||||||||||||
Government-sponsored entities | 154,058 | 962 | (18 | ) | 155,002 | ||||||||||||||||||||||
Municipal bonds | 207,952 | 3,172 | (140 | ) | 210,984 | ||||||||||||||||||||||
Mortgage-backed securities (1) | 313,239 | 5,597 | (909 | ) | 317,927 | ||||||||||||||||||||||
Other | 12,526 | 120 | (12 | ) | 12,634 | ||||||||||||||||||||||
Total | $ | 690,556 | $ | 9,851 | $ | (1,107 | ) | $ | 699,300 | ||||||||||||||||||
___________________ | |||||||||||||||||||||||||||
-1 | All mortgage-backed securities are guaranteed by U.S. government agencies or government-sponsored entities. | ||||||||||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||||||||||||||
The following table presents the maturities of investment securities available for sale, based on contractual maturity, as of September 30, 2013. Certain securities are callable before their final maturity. Additionally, certain securities (such as mortgage-backed securities) are shown within the table below based on their final (contractual) maturity, but, due to prepayments and amortization, are expected to have shorter lives. | |||||||||||||||||||||||||||
Available for Sale Securities | |||||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||||
cost | value | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
Within one year | $ | 64,191 | $ | 64,570 | |||||||||||||||||||||||
After one, but within five years | 320,013 | 320,262 | |||||||||||||||||||||||||
After five, but within ten years | 84,421 | 83,968 | |||||||||||||||||||||||||
Greater than ten years | 236,343 | 234,144 | |||||||||||||||||||||||||
Total | $ | 704,968 | $ | 702,944 | |||||||||||||||||||||||
Realized Gain (Loss) on Investments [Table Text Block] | ' | ||||||||||||||||||||||||||
The following table presents the proceeds from sales, gross realized gains and gross realized losses for securities available for sale that were sold during the following periods: | |||||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||
Proceeds from sales | $ | 1,982 | $ | 86 | $ | 3,472 | $ | 49,323 | |||||||||||||||||||
Realized gains | 7 | 25 | 35 | 924 | |||||||||||||||||||||||
Realized losses | — | — | — | (46 | ) | ||||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | ||||||||||||||||||||||||||
The following table presents information regarding securities as of September 30, 2013 having temporary impairment, due to the fair values having declined below the amortized cost of the individual securities, and the time period that the investments have been temporarily impaired. | |||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | # of | |||||||||||||||||||||
value | losses | value | losses | value | losses | securities | |||||||||||||||||||||
Available for sale securities | (In thousands) | ||||||||||||||||||||||||||
U.S. government and agencies | $ | — | $ | — | $ | 1,122 | $ | (29 | ) | $ | 1,122 | $ | (29 | ) | 1 | ||||||||||||
Government-sponsored entities | 133,454 | (941 | ) | — | — | 133,454 | (941 | ) | 11 | ||||||||||||||||||
Municipal bonds | 96,618 | (1,818 | ) | — | — | 96,618 | (1,818 | ) | 56 | ||||||||||||||||||
Mortgage-backed securities | 118,115 | (3,066 | ) | 28,778 | (920 | ) | 146,893 | (3,986 | ) | 32 | |||||||||||||||||
Other | 30 | (5 | ) | 36 | (2 | ) | 66 | (7 | ) | 6 | |||||||||||||||||
Total | $ | 348,217 | $ | (5,830 | ) | $ | 29,936 | $ | (951 | ) | $ | 378,153 | $ | (6,781 | ) | 106 | |||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | |||||||||||||||||||||||
The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012, aggregated by the level in the fair value hierarchy within which those measurements fall: | ||||||||||||||||||||||||
As of September 30, 2013 | Fair value measurements at reporting date using: | |||||||||||||||||||||||
Quoted prices in | Significant | Significant | ||||||||||||||||||||||
active markets | other | unobservable | ||||||||||||||||||||||
for identical | observable | inputs (Level 3) | ||||||||||||||||||||||
assets (Level 1) | inputs (Level 2) | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Available for sale securities: | ||||||||||||||||||||||||
U.S. government and agencies | $ | 2,299 | $ | — | $ | 2,299 | $ | — | ||||||||||||||||
Government-sponsored entities | 221,943 | — | 221,943 | — | ||||||||||||||||||||
Municipal bonds | 215,966 | — | 215,966 | — | ||||||||||||||||||||
Mortgage-backed securities | 247,238 | — | 247,238 | — | ||||||||||||||||||||
Other | 15,498 | 15,498 | — | — | ||||||||||||||||||||
Total available for sale securities | 702,944 | 15,498 | 687,446 | — | ||||||||||||||||||||
Derivatives - interest rate customer swaps | 1,742 | — | 1,742 | — | ||||||||||||||||||||
Other investments | 5,616 | 5,038 | 578 | — | ||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Derivatives - interest rate customer swaps | $ | 1,807 | $ | — | $ | 1,807 | $ | — | ||||||||||||||||
Derivatives - junior subordinated debenture interest rate swap | 3,839 | — | 3,839 | — | ||||||||||||||||||||
Derivatives - interest rate swaps | 333 | — | 333 | — | ||||||||||||||||||||
Fair value measurements at reporting date using: | ||||||||||||||||||||||||
As of December 31, 2012 | Quoted prices in | Significant | Significant | |||||||||||||||||||||
active markets | other | unobservable | ||||||||||||||||||||||
for identical | observable | inputs (Level 3) | ||||||||||||||||||||||
assets (Level 1) | inputs (Level 2) | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Available for sale securities: | ||||||||||||||||||||||||
U.S. government and agencies | $ | 2,753 | $ | — | $ | 2,753 | $ | — | ||||||||||||||||
Government-sponsored entities | 155,002 | — | 155,002 | — | ||||||||||||||||||||
Municipal bonds | 210,984 | — | 210,984 | — | ||||||||||||||||||||
Mortgage-backed securities | 317,927 | — | 317,927 | — | ||||||||||||||||||||
Other | 12,634 | 12,634 | — | — | ||||||||||||||||||||
Total available for sale securities | 699,300 | 12,634 | 686,666 | — | ||||||||||||||||||||
Derivatives - interest rate customer swaps | 2,915 | — | 2,915 | — | ||||||||||||||||||||
Derivatives - customer foreign exchange forwards | 120 | — | 120 | — | ||||||||||||||||||||
Other investments | 5,892 | 5,206 | 686 | — | ||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Derivatives - interest rate customer swaps | $ | 3,047 | $ | — | $ | 3,047 | $ | — | ||||||||||||||||
Derivatives - customer foreign exchange forwards | 120 | — | 120 | — | ||||||||||||||||||||
Derivatives - junior subordinated debenture interest rate swap | 5,189 | — | 5,189 | — | ||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block] | ' | |||||||||||||||||||||||
The following tables present the Company’s assets and liabilities measured at fair value on a non-recurring basis during the periods ended September 30, 2013 and 2012, respectively, aggregated by the level in the fair value hierarchy within which those measurements fall: | ||||||||||||||||||||||||
As of September 30, 2013 | Fair value measurements at reporting date using: | Gain (losses) from fair value changes | ||||||||||||||||||||||
Quoted prices in | Significant | Significant | Three months ended September 30, 2013 | Nine months ended September 30, 2013 | ||||||||||||||||||||
active markets | other | unobservable | ||||||||||||||||||||||
for identical | observable | inputs (Level 3) | ||||||||||||||||||||||
assets (Level 1) | inputs (Level 2) | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Impaired loans (1) | $ | 9,464 | $ | — | $ | — | $ | 9,464 | $ | — | $ | (1,845 | ) | |||||||||||
$ | 9,464 | $ | — | $ | — | $ | 9,464 | $ | — | $ | (1,845 | ) | ||||||||||||
___________________ | ||||||||||||||||||||||||
-1 | Collateral-dependent impaired loans held at September 30, 2013 that had write-downs in fair value or whose specific reserve changed during the first nine months of 2013. | |||||||||||||||||||||||
As of September 30, 2012 | Fair value measurements at reporting date using: | Gain (losses) from fair value changes | ||||||||||||||||||||||
Quoted prices in | Significant | Significant | Three months ended September 30, 2012 | Nine months ended September 30, 2012 | ||||||||||||||||||||
active markets | other | unobservable | ||||||||||||||||||||||
for identical | observable | inputs (Level 3) | ||||||||||||||||||||||
assets (Level 1) | inputs (Level 2) | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Impaired loans (1) | $ | 20,230 | $ | — | $ | — | $ | 20,230 | $ | (4,598 | ) | $ | (5,186 | ) | ||||||||||
OREO (2) | 379 | — | — | 379 | (102 | ) | (102 | ) | ||||||||||||||||
$ | 20,609 | $ | — | $ | — | $ | 20,609 | $ | (4,700 | ) | $ | (5,288 | ) | |||||||||||
________________ | ||||||||||||||||||||||||
-1 | Collateral-dependent impaired loans held at September 30, 2012 that had write-downs in fair value or whose specific reserve changed during the first nine months of 2012. | |||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Table Text Block] | ' | |||||||||||||||||||||||
The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company has utilized Level 3 inputs to determine fair value: | ||||||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Range of | Weighted | ||||||||||||||||||||
technique | Input | Inputs | Average of | |||||||||||||||||||||
Utilized | Inputs | |||||||||||||||||||||||
Utilized | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired Loans | $ | 9,464 | Appraisals of Collateral | Discount for costs to sell | 0% - 13% | 8% | ||||||||||||||||||
Appraisal adjustments | 0% - 45% | 24% | ||||||||||||||||||||||
As of September 30, 2012 | ||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Range of | Weighted | ||||||||||||||||||||
technique | Input | Inputs | Average of | |||||||||||||||||||||
Utilized | Inputs | |||||||||||||||||||||||
Utilized | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Impaired Loans | $ | 20,230 | Appraisals of Collateral | Discount for costs to sell | 6% - 13% | 8% | ||||||||||||||||||
Appraisal adjustments | 0% - 30% | 11% | ||||||||||||||||||||||
OREO | $ | 379 | Appraisals of Collateral | Discount for costs to sell | 8% | 8% | ||||||||||||||||||
Appraisal adjustments | —% | —% | ||||||||||||||||||||||
Impaired loans include those loans that were adjusted to the fair value of underlying collateral as required under ASC 310, Receivables. The amount does not include impaired loans that are measured based on expected future cash flows discounted at the respective loan’s original effective interest rate, as that amount is not considered a fair value measurement. The Company uses appraisals, which management may adjust to reflect estimated fair value declines, or apply other discounts to appraised values for unobservable factors resulting from its knowledge of the property or consideration of broker quotes. The appraisers use a market, income, and/or a cost approach in determining the value of the collateral. Therefore they have been categorized as a Level 3 measurement. | ||||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | |||||||||||||||||||||||
The following tables present the carrying values and fair values of the Company’s financial instruments that are not measured at fair value on a recurring basis (other than certain loans, as noted below): | ||||||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||
Book Value | Fair Value | Quoted prices | Significant | Significant | ||||||||||||||||||||
in active | other | unobservable | ||||||||||||||||||||||
markets for | observable | inputs (Level 3) | ||||||||||||||||||||||
identical assets | inputs (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
FINANCIAL ASSETS: | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 323,941 | $ | 323,941 | $ | 323,941 | $ | — | $ | — | ||||||||||||||
Loans, net | 4,845,045 | 4,822,432 | — | — | 4,822,432 | |||||||||||||||||||
Loans held for sale | 1,745 | 1,745 | — | 1,745 | — | |||||||||||||||||||
Other financial assets | 116,194 | 116,194 | — | 116,194 | — | |||||||||||||||||||
FINANCIAL LIABILITIES: | ||||||||||||||||||||||||
Deposits | 4,942,765 | 4,945,589 | — | 4,945,589 | — | |||||||||||||||||||
Securities sold under agreements to repurchase | 92,499 | 92,490 | — | 92,490 | — | |||||||||||||||||||
Federal Home Loan Bank borrowings | 391,466 | 402,158 | — | 402,158 | — | |||||||||||||||||||
Junior subordinated debentures | 110,487 | 100,487 | — | 7,394 | 93,093 | |||||||||||||||||||
Other financial liabilities | 9,708 | 9,708 | — | 9,708 | — | |||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||
Book Value | Fair Value | Quoted prices | Significant | Significant | ||||||||||||||||||||
in active | other | unobservable | ||||||||||||||||||||||
markets for | observable | inputs (Level 3) | ||||||||||||||||||||||
identical assets | inputs (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
FINANCIAL ASSETS: | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 308,744 | $ | 308,744 | $ | 308,744 | $ | — | $ | — | ||||||||||||||
Loans, net | 4,730,079 | 4,766,574 | — | — | 4,766,574 | |||||||||||||||||||
Loans held for sale | 308,390 | 308,908 | — | 308,908 | — | |||||||||||||||||||
Other financial assets | 118,087 | 118,087 | — | 118,087 | — | |||||||||||||||||||
FINANCIAL LIABILITIES: | ||||||||||||||||||||||||
Deposits | 4,885,059 | 4,891,465 | — | 4,891,465 | — | |||||||||||||||||||
Deposits held for sale | 194,084 | 182,592 | — | 182,592 | — | |||||||||||||||||||
Securities sold under agreements to repurchase | 116,319 | 117,885 | — | 117,885 | — | |||||||||||||||||||
Federal Home Loan Bank borrowings | 408,121 | 428,037 | — | 428,037 | — | |||||||||||||||||||
Junior subordinated debentures | 143,647 | 117,502 | — | 12,804 | 104,698 | |||||||||||||||||||
Other financial liabilities | 10,058 | 10,058 | — | 10,058 | — | |||||||||||||||||||
The estimated fair values have been determined by using available quoted market information or other appropriate valuation methodologies. The aggregate fair value amounts presented do not represent the underlying value of the Company taken as a whole. |
Loan_Portfolio_and_Credit_Qual1
Loan Portfolio and Credit Quality (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | |||||||||||||||||||||||||||||||||
The following table presents a summary of the loan portfolio based on the portfolio segment as of the dates indicated: | ||||||||||||||||||||||||||||||||||
September 30, | December 31, 2012 | |||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 788,425 | $ | 806,326 | ||||||||||||||||||||||||||||||
Commercial real estate | 1,722,031 | 1,691,350 | ||||||||||||||||||||||||||||||||
Construction and land | 154,609 | 137,570 | ||||||||||||||||||||||||||||||||
Residential | 2,006,702 | 1,906,089 | ||||||||||||||||||||||||||||||||
Home equity | 118,094 | 123,551 | ||||||||||||||||||||||||||||||||
Consumer and other | 132,361 | 149,250 | ||||||||||||||||||||||||||||||||
Total Loans | $ | 4,922,222 | $ | 4,814,136 | ||||||||||||||||||||||||||||||
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | ' | |||||||||||||||||||||||||||||||||
The following table presents nonaccrual loans receivable by class of receivable as of the dates indicated: | ||||||||||||||||||||||||||||||||||
September 30, | December 31, 2012 | |||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 4,575 | $ | 4,337 | ||||||||||||||||||||||||||||||
Commercial real estate | 27,996 | 41,696 | ||||||||||||||||||||||||||||||||
Construction and land | 4,920 | 2,213 | ||||||||||||||||||||||||||||||||
Residential | 13,140 | 11,744 | ||||||||||||||||||||||||||||||||
Home equity | 134 | 660 | ||||||||||||||||||||||||||||||||
Consumer and other | 27 | 95 | ||||||||||||||||||||||||||||||||
Total | $ | 50,792 | $ | 60,745 | ||||||||||||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||||||||||||
The following tables show the payment status of loans receivable by class of receivable as of the dates indicated: | ||||||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||||
Accruing Past Due | Nonaccrual Loans | |||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90+ Days Past Due | Total Accruing Past Due | Current Payment Status | 30-89 Days Past Due | 90+ Days Past Due | Total Non-Accrual Loans | Current Accruing Loans | Total Loans Receivable | |||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,128 | $ | 13 | $ | — | $ | 1,141 | $ | 1,351 | $ | — | $ | 3,224 | $ | 4,575 | $ | 782,709 | $ | 788,425 | ||||||||||||||
Commercial real estate | 1,018 | 525 | 1,647 | 3,190 | 13,548 | — | 14,448 | 27,996 | 1,690,845 | 1,722,031 | ||||||||||||||||||||||||
Construction and land | 679 | 13 | 65 | 757 | 3,988 | 49 | 883 | 4,920 | 148,932 | 154,609 | ||||||||||||||||||||||||
Residential | — | 3,758 | — | 3,758 | 5,648 | 216 | 7,276 | 13,140 | 1,989,804 | 2,006,702 | ||||||||||||||||||||||||
Home equity | 1,020 | — | — | 1,020 | 39 | — | 95 | 134 | 116,940 | 118,094 | ||||||||||||||||||||||||
Consumer and other | 27 | 2 | — | 29 | — | 4 | 23 | 27 | 132,305 | 132,361 | ||||||||||||||||||||||||
Total | $ | 3,872 | $ | 4,311 | $ | 1,712 | $ | 9,895 | $ | 24,574 | $ | 269 | $ | 25,949 | $ | 50,792 | $ | 4,861,535 | $ | 4,922,222 | ||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||
Accruing Past Due | Nonaccrual Loans | |||||||||||||||||||||||||||||||||
30-59 Days Past Due (1) | 60-89 Days Past Due | 90+ Days Past Due | Total Accruing Past Due | Current Payment Status | 30-89 Days Past Due | 90+ Days Past Due | Total Non-Accrual Loans | Current Accruing Loans | Total Loans Receivable | |||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 10,684 | $ | 210 | $ | 257 | $ | 11,151 | $ | 3,073 | $ | — | $ | 1,264 | $ | 4,337 | $ | 790,838 | $ | 806,326 | ||||||||||||||
Commercial real estate | 3,331 | 4,572 | 3,249 | 11,152 | 29,125 | 8,913 | 3,658 | 41,696 | 1,638,502 | 1,691,350 | ||||||||||||||||||||||||
Construction and land | 42 | 3,216 | 50 | 3,308 | 723 | 137 | 1,353 | 2,213 | 132,049 | 137,570 | ||||||||||||||||||||||||
Residential | 20,194 | 3,218 | — | 23,412 | 5,101 | 1,980 | 4,663 | 11,744 | 1,870,933 | 1,906,089 | ||||||||||||||||||||||||
Home equity | 119 | 39 | — | 158 | 300 | — | 360 | 660 | 122,733 | 123,551 | ||||||||||||||||||||||||
Consumer and other | 569 | 182 | — | 751 | 93 | — | 2 | 95 | 148,404 | 149,250 | ||||||||||||||||||||||||
Total | $ | 34,939 | $ | 11,437 | $ | 3,556 | $ | 49,932 | $ | 38,415 | $ | 11,030 | $ | 11,300 | $ | 60,745 | $ | 4,703,459 | $ | 4,814,136 | ||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Does not include one commercial and industrial 30-59 day delinquent loan totaling $0.3 million in loans held for sale as of December 31, 2012. | |||||||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | |||||||||||||||||||||||||||||||||
The following tables present the loan portfolio’s credit risk profile by internally assigned grade by class of receivable as of the dates indicated: | ||||||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||||
By Loan Grade or Nonaccrual Status | ||||||||||||||||||||||||||||||||||
Pass | Special Mention | Accruing Substandard | Nonaccrual Loans | Total | ||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 766,285 | $ | 11,075 | $ | 6,490 | $ | 4,575 | $ | 788,425 | ||||||||||||||||||||||||
Commercial real estate | 1,629,671 | 41,988 | 22,376 | 27,996 | 1,722,031 | |||||||||||||||||||||||||||||
Construction and land | 128,828 | 20,209 | 652 | 4,920 | 154,609 | |||||||||||||||||||||||||||||
Residential | 1,980,499 | — | 13,063 | 13,140 | 2,006,702 | |||||||||||||||||||||||||||||
Home equity | 116,239 | — | 1,721 | 134 | 118,094 | |||||||||||||||||||||||||||||
Consumer and other | 131,390 | 937 | 7 | 27 | 132,361 | |||||||||||||||||||||||||||||
Total | $ | 4,752,912 | $ | 74,209 | $ | 44,309 | $ | 50,792 | $ | 4,922,222 | ||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||
By Loan Grade or Nonaccrual Status | ||||||||||||||||||||||||||||||||||
Pass | Special Mention (1) | Accruing Substandard | Nonaccrual Loans | Total | ||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 779,236 | $ | 13,691 | $ | 9,062 | $ | 4,337 | $ | 806,326 | ||||||||||||||||||||||||
Commercial real estate | 1,531,701 | 54,000 | 63,953 | 41,696 | 1,691,350 | |||||||||||||||||||||||||||||
Construction and land | 110,940 | 17,048 | 7,369 | 2,213 | 137,570 | |||||||||||||||||||||||||||||
Residential | 1,886,273 | — | 8,072 | 11,744 | 1,906,089 | |||||||||||||||||||||||||||||
Home equity | 121,218 | — | 1,673 | 660 | 123,551 | |||||||||||||||||||||||||||||
Consumer and other | 149,155 | — | — | 95 | 149,250 | |||||||||||||||||||||||||||||
Total | $ | 4,578,523 | $ | 84,739 | $ | 90,129 | $ | 60,745 | $ | 4,814,136 | ||||||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Does not include five commercial and industrial special mention loans totaling $0.9 million and three commercial real estate special mention loans totaling $3.0 million in loans held for sale as of December 31, 2012. | |||||||||||||||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||||||||||||
The following tables present, by class of receivable, the balance of impaired loans with and without a related allowance, the associated allowance for those impaired loans with a related allowance, and the total unpaid principal on impaired loans: | ||||||||||||||||||||||||||||||||||
As of and for the three and nine months ended September 30, 2013 | ||||||||||||||||||||||||||||||||||
Recorded Investment (1) | Unpaid Principal Balance | Related Allowance | QTD Average Recorded Investment | YTD Average Recorded Investment | QTD Interest Income Recognized while Impaired | YTD Interest Income Recognized while Impaired | ||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,068 | $ | 3,299 | n/a | $ | 2,558 | $ | 4,521 | $ | 62 | $ | 332 | |||||||||||||||||||||
Commercial real estate | 30,965 | 42,572 | n/a | 30,847 | 34,896 | 247 | 781 | |||||||||||||||||||||||||||
Construction and land | 1,078 | 1,800 | n/a | 1,083 | 1,605 | 6 | 103 | |||||||||||||||||||||||||||
Residential | 3,662 | 5,340 | n/a | 3,229 | 4,141 | 20 | 106 | |||||||||||||||||||||||||||
Home equity | 89 | 89 | n/a | 89 | 141 | 3 | 4 | |||||||||||||||||||||||||||
Consumer and other | 7 | 7 | n/a | 2 | 1 | — | — | |||||||||||||||||||||||||||
Subtotal | 37,869 | 53,107 | n/a | 37,808 | 45,305 | 338 | 1,326 | |||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 2,558 | 2,644 | $ | 253 | 2,496 | 2,385 | 1 | 23 | ||||||||||||||||||||||||||
Commercial real estate | 13,905 | 15,197 | 1,508 | 17,630 | 19,909 | 89 | 677 | |||||||||||||||||||||||||||
Construction and land | 4,185 | 4,405 | 794 | 4,185 | 3,260 | — | — | |||||||||||||||||||||||||||
Residential | 12,844 | 12,844 | 1,746 | 13,171 | 12,680 | 100 | 389 | |||||||||||||||||||||||||||
Home equity | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Subtotal | 33,492 | 35,090 | 4,301 | 37,482 | 38,234 | 190 | 1,089 | |||||||||||||||||||||||||||
Total: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 4,626 | 5,943 | 253 | 5,054 | 6,906 | 63 | 355 | |||||||||||||||||||||||||||
Commercial real estate | 44,870 | 57,769 | 1,508 | 48,477 | 54,805 | 336 | 1,458 | |||||||||||||||||||||||||||
Construction and land | 5,263 | 6,205 | 794 | 5,268 | 4,865 | 6 | 103 | |||||||||||||||||||||||||||
Residential | 16,506 | 18,184 | 1,746 | 16,400 | 16,821 | 120 | 495 | |||||||||||||||||||||||||||
Home equity | 89 | 89 | — | 89 | 141 | 3 | 4 | |||||||||||||||||||||||||||
Consumer and other | 7 | 7 | — | 2 | 1 | — | — | |||||||||||||||||||||||||||
Total | $ | 71,361 | $ | 88,197 | $ | 4,301 | $ | 75,290 | $ | 83,539 | $ | 528 | $ | 2,415 | ||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, which was applied to principal. | |||||||||||||||||||||||||||||||||
As of and for the three and nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||
Recorded Investment (1) | Unpaid Principal Balance | Related Allowance | QTD Average Recorded Investment | YTD Average Recorded Investment | QTD Interest Income Recognized while Impaired | YTD Interest Income Recognized while Impaired | ||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 5,064 | $ | 8,361 | n/a | $ | 3,686 | $ | 4,826 | $ | — | $ | — | |||||||||||||||||||||
Commercial real estate | 34,789 | 55,034 | n/a | 28,714 | 30,315 | 39 | 226 | |||||||||||||||||||||||||||
Construction and land | 4,630 | 6,783 | n/a | 5,655 | 6,115 | — | 97 | |||||||||||||||||||||||||||
Residential | 9,764 | 11,195 | n/a | 9,482 | 9,747 | 71 | 243 | |||||||||||||||||||||||||||
Home equity | 360 | 360 | n/a | 360 | 354 | 1 | 3 | |||||||||||||||||||||||||||
Consumer and other | — | — | n/a | 73 | 53 | — | — | |||||||||||||||||||||||||||
Subtotal | 54,607 | 81,733 | n/a | 47,970 | 51,410 | 111 | 569 | |||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 1,285 | 1,285 | $ | 123 | 2,731 | 1,983 | — | — | ||||||||||||||||||||||||||
Commercial real estate | 25,516 | 26,901 | 2,507 | 24,462 | 25,190 | 200 | 562 | |||||||||||||||||||||||||||
Construction and land | 1,018 | 1,062 | 425 | 2,187 | 1,662 | — | — | |||||||||||||||||||||||||||
Residential | 12,067 | 12,067 | 1,080 | 12,885 | 11,604 | 119 | 277 | |||||||||||||||||||||||||||
Home equity | 131 | 131 | 131 | 131 | 131 | 1 | 4 | |||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Subtotal | 40,017 | 41,446 | 4,266 | 42,396 | 40,570 | 320 | 843 | |||||||||||||||||||||||||||
Total: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 6,349 | 9,646 | 123 | 6,417 | 6,809 | — | — | |||||||||||||||||||||||||||
Commercial real estate | 60,305 | 81,935 | 2,507 | 53,176 | 55,505 | 239 | 788 | |||||||||||||||||||||||||||
Construction and land | 5,648 | 7,845 | 425 | 7,842 | 7,777 | — | 97 | |||||||||||||||||||||||||||
Residential | 21,831 | 23,262 | 1,080 | 22,367 | 21,351 | 190 | 520 | |||||||||||||||||||||||||||
Home equity | 491 | 491 | 131 | 491 | 485 | 2 | 7 | |||||||||||||||||||||||||||
Consumer and other | — | — | — | 73 | 53 | — | — | |||||||||||||||||||||||||||
Total | $ | 94,624 | $ | 123,179 | $ | 4,266 | $ | 90,366 | $ | 91,980 | $ | 431 | $ | 1,412 | ||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, which was applied to principal. | |||||||||||||||||||||||||||||||||
As of and for the year ended December 31, 2012 | ||||||||||||||||||||||||||||||||||
Recorded Investment (1) | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized while Impaired | ||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 3,274 | $ | 4,499 | n/a | $ | 4,707 | $ | — | |||||||||||||||||||||||||
Commercial real estate | 40,133 | 64,424 | n/a | 31,736 | 283 | |||||||||||||||||||||||||||||
Construction and land | 1,310 | 2,682 | n/a | 5,532 | 97 | |||||||||||||||||||||||||||||
Residential | 2,337 | 2,594 | n/a | 8,885 | 312 | |||||||||||||||||||||||||||||
Home equity | 360 | 360 | n/a | 355 | 3 | |||||||||||||||||||||||||||||
Consumer and other | — | — | n/a | 40 | — | |||||||||||||||||||||||||||||
Subtotal | 47,414 | 74,559 | n/a | 51,255 | 695 | |||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 1,149 | 1,191 | $ | 118 | 1,855 | 1 | ||||||||||||||||||||||||||||
Commercial real estate | 18,519 | 19,814 | 1,667 | 24,510 | 727 | |||||||||||||||||||||||||||||
Construction and land | 903 | 953 | 189 | 1,486 | — | |||||||||||||||||||||||||||||
Residential | 13,539 | 13,798 | 1,403 | 11,781 | 374 | |||||||||||||||||||||||||||||
Home equity | — | — | — | 114 | 5 | |||||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | |||||||||||||||||||||||||||||
Subtotal | 34,110 | 35,756 | 3,377 | 39,746 | 1,107 | |||||||||||||||||||||||||||||
Total: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 4,423 | 5,690 | 118 | 6,562 | 1 | |||||||||||||||||||||||||||||
Commercial real estate | 58,652 | 84,238 | 1,667 | 56,246 | 1,010 | |||||||||||||||||||||||||||||
Construction and land | 2,213 | 3,635 | 189 | 7,018 | 97 | |||||||||||||||||||||||||||||
Residential | 15,876 | 16,392 | 1,403 | 20,666 | 686 | |||||||||||||||||||||||||||||
Home equity | 360 | 360 | — | 469 | 8 | |||||||||||||||||||||||||||||
Consumer and other | — | — | — | 40 | — | |||||||||||||||||||||||||||||
Total | $ | 81,524 | $ | 110,315 | $ | 3,377 | $ | 91,001 | $ | 1,802 | ||||||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, which was applied to principal. | |||||||||||||||||||||||||||||||||
The following tables present the Company’s allowance for loan losses and loan portfolio at September 30, 2013 and December 31, 2012 by portfolio segment, disaggregated by method of impairment analysis. The Company had no loans acquired with deteriorated credit quality at September 30, 2013 or December 31, 2012. | ||||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial real estate | Construction and land | Residential | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
Allowance for loan losses balance at September 30, 2013 attributable to: | ||||||||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 11,147 | $ | 43,475 | $ | 4,080 | $ | 10,428 | ||||||||||||||||||||||||||
Loans individually evaluated | 253 | 1,508 | 794 | 1,746 | ||||||||||||||||||||||||||||||
Total allowance for loan losses | $ | 11,400 | $ | 44,983 | $ | 4,874 | $ | 12,174 | ||||||||||||||||||||||||||
Recorded investment (loan balance) at September 30, 2013: | ||||||||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 783,799 | $ | 1,677,161 | $ | 149,346 | $ | 1,990,196 | ||||||||||||||||||||||||||
Loans individually evaluated | 4,626 | 44,870 | 5,263 | 16,506 | ||||||||||||||||||||||||||||||
Total Loans | $ | 788,425 | $ | 1,722,031 | $ | 154,609 | $ | 2,006,702 | ||||||||||||||||||||||||||
Home equity | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||
and other | ||||||||||||||||||||||||||||||||||
(Continued from above) | (In thousands) | |||||||||||||||||||||||||||||||||
Allowance for loan losses balance at September 30, 2013 attributable to: | ||||||||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 1,192 | $ | 421 | $ | 2,133 | $ | 72,876 | ||||||||||||||||||||||||||
Loans individually evaluated | — | — | — | 4,301 | ||||||||||||||||||||||||||||||
Total allowance for loan losses | $ | 1,192 | $ | 421 | $ | 2,133 | $ | 77,177 | ||||||||||||||||||||||||||
Recorded investment (loan balance) at September 30, 2013: | ||||||||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 118,005 | $ | 132,354 | $ | — | $ | 4,850,861 | ||||||||||||||||||||||||||
Loans individually evaluated | 89 | 7 | — | 71,361 | ||||||||||||||||||||||||||||||
Total Loans | $ | 118,094 | $ | 132,361 | $ | — | $ | 4,922,222 | ||||||||||||||||||||||||||
Commercial and industrial | Commercial real estate | Construction and land | Residential | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||
Allowance for loan losses balance at December 31, 2012 attributable to: | ||||||||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 11,707 | $ | 50,830 | $ | 4,827 | $ | 9,489 | ||||||||||||||||||||||||||
Loans individually evaluated | 118 | 1,667 | 189 | 1,403 | ||||||||||||||||||||||||||||||
Total allowance for loan losses | $ | 11,825 | $ | 52,497 | $ | 5,016 | $ | 10,892 | ||||||||||||||||||||||||||
Recorded investment (loan balance) at December 31, 2012: | ||||||||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 801,903 | $ | 1,632,698 | $ | 135,357 | $ | 1,890,213 | ||||||||||||||||||||||||||
Loans individually evaluated | 4,423 | 58,652 | 2,213 | 15,876 | ||||||||||||||||||||||||||||||
Total Loans | $ | 806,326 | $ | 1,691,350 | $ | 137,570 | $ | 1,906,089 | ||||||||||||||||||||||||||
Home equity | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||
and other | ||||||||||||||||||||||||||||||||||
(Continued from above) | (In thousands) | |||||||||||||||||||||||||||||||||
Allowance for loan losses balance at December 31, 2012 attributable to: | ||||||||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 1,085 | $ | 540 | $ | 2,202 | $ | 80,680 | ||||||||||||||||||||||||||
Loans individually evaluated | — | — | — | 3,377 | ||||||||||||||||||||||||||||||
Total allowance for loan losses | $ | 1,085 | $ | 540 | $ | 2,202 | $ | 84,057 | ||||||||||||||||||||||||||
Recorded investment (loan balance) at December 31, 2012: | ||||||||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 123,191 | $ | 149,250 | $ | — | $ | 4,732,612 | ||||||||||||||||||||||||||
Loans individually evaluated | 360 | — | — | 81,524 | ||||||||||||||||||||||||||||||
Total Loans | $ | 123,551 | $ | 149,250 | $ | — | $ | 4,814,136 | ||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||||||||||||
The following tables present the balance of TDRs that were restructured or defaulted during the periods indicated: | ||||||||||||||||||||||||||||||||||
As of and for the three months ended September 30, 2013 | ||||||||||||||||||||||||||||||||||
Restructured Current Quarter | TDRs that defaulted in the current | |||||||||||||||||||||||||||||||||
quarter that were restructured | ||||||||||||||||||||||||||||||||||
in prior twelve months | ||||||||||||||||||||||||||||||||||
# of | Pre- | Post- | # of | Post- | ||||||||||||||||||||||||||||||
Loans | modification | modification | Loans | modification | ||||||||||||||||||||||||||||||
recorded | recorded | recorded | ||||||||||||||||||||||||||||||||
investment | investment | investment | ||||||||||||||||||||||||||||||||
(Dollars In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial | — | $ | — | $ | — | 1 | $ | 983 | ||||||||||||||||||||||||||
Commercial real estate (1) | 2 | 2,198 | 2,198 | 2 | 1,517 | |||||||||||||||||||||||||||||
Construction and land | — | — | — | — | — | |||||||||||||||||||||||||||||
Residential (2) | 2 | 227 | 227 | — | — | |||||||||||||||||||||||||||||
Home equity | — | — | — | — | — | |||||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | |||||||||||||||||||||||||||||
Total | 4 | $ | 2,425 | $ | 2,425 | 3 | $ | 2,500 | ||||||||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Represents the following concessions: combination of concessions. | |||||||||||||||||||||||||||||||||
-2 | Represents the following concessions: temporary reduction of interest rate. | |||||||||||||||||||||||||||||||||
As of and for the nine months ended September 30, 2013 | ||||||||||||||||||||||||||||||||||
Restructured Year to Date | TDRs that defaulted year to date that were restructured in prior twelve months | |||||||||||||||||||||||||||||||||
# of | Pre- | Post- | # of | Post- | ||||||||||||||||||||||||||||||
Loans | modification | modification | Loans | modification | ||||||||||||||||||||||||||||||
recorded | recorded | recorded | ||||||||||||||||||||||||||||||||
investment | investment | investment | ||||||||||||||||||||||||||||||||
(Dollars In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial (1) | 3 | $ | 1,369 | $ | 1,369 | 1 | $ | 983 | ||||||||||||||||||||||||||
Commercial real estate (2) | 7 | 11,361 | 11,361 | 5 | 5,072 | |||||||||||||||||||||||||||||
Construction and land (3) | 4 | 3,604 | 3,604 | — | — | |||||||||||||||||||||||||||||
Residential (4) | 10 | 934 | 934 | 1 | 1,116 | |||||||||||||||||||||||||||||
Home equity (5) | 1 | 40 | 40 | — | — | |||||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | |||||||||||||||||||||||||||||
Total | 25 | $ | 17,308 | $ | 17,308 | 7 | $ | 7,171 | ||||||||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Represents the following concessions: extension of term (1 loan; post-modification recorded investment of $1.0 million), temporary reduction of interest rate (1 loan; post-modification recorded investment of $0.2 million), and combination of concessions (1 loan; post-modification recorded investment of $0.2 million). | |||||||||||||||||||||||||||||||||
-2 | Represents the following concessions: extension of term (4 loans; post-modification recorded investment of $9.0 million) and combination of concessions (3 loans; post-modification recorded investment of $2.4 million). | |||||||||||||||||||||||||||||||||
-3 | Represents the following concessions: extension of term. | |||||||||||||||||||||||||||||||||
-4 | Represents the following concessions: temporary reduction of interest rate. | |||||||||||||||||||||||||||||||||
-5 | Represents the following concessions: extension of term. | |||||||||||||||||||||||||||||||||
As of and for the three months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||
Restructured Current Quarter | TDRs that defaulted in the current | |||||||||||||||||||||||||||||||||
quarter that were restructured | ||||||||||||||||||||||||||||||||||
in prior twelve months | ||||||||||||||||||||||||||||||||||
# of | Pre- | Post- | # of | Post- | ||||||||||||||||||||||||||||||
Loans | modification | modification | Loans | modification | ||||||||||||||||||||||||||||||
recorded | recorded | recorded | ||||||||||||||||||||||||||||||||
investment | investment | investment | ||||||||||||||||||||||||||||||||
(Dollars In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial (1) | 2 | $ | 1,807 | $ | 1,807 | — | $ | — | ||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | — | |||||||||||||||||||||||||||||
Construction and land | — | — | — | — | — | |||||||||||||||||||||||||||||
Residential (2) | 1 | 3,150 | 3,150 | 3 | 1,282 | |||||||||||||||||||||||||||||
Home equity | — | — | — | — | — | |||||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | |||||||||||||||||||||||||||||
Total | 3 | $ | 4,957 | $ | 4,957 | 3 | $ | 1,282 | ||||||||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Represents the following concessions: extension of term. | |||||||||||||||||||||||||||||||||
-2 | Represents the following concessions: temporary reduction of interest rate. | |||||||||||||||||||||||||||||||||
As of and for the nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||
Restructured Year to Date | TDRs that defaulted year to date that were restructured in prior twelve months | |||||||||||||||||||||||||||||||||
# of | Pre- | Post- | # of | Post- | ||||||||||||||||||||||||||||||
Loans | modification | modification | Loans | modification | ||||||||||||||||||||||||||||||
recorded | recorded | recorded | ||||||||||||||||||||||||||||||||
investment | investment | investment | ||||||||||||||||||||||||||||||||
(Dollars In thousands) | ||||||||||||||||||||||||||||||||||
Commercial and industrial (1) | 2 | $ | 1,807 | $ | 1,807 | — | $ | — | ||||||||||||||||||||||||||
Commercial real estate (2) | 6 | 7,387 | 7,468 | — | — | |||||||||||||||||||||||||||||
Construction and land | — | — | — | — | — | |||||||||||||||||||||||||||||
Residential (3) | 12 | 7,172 | 7,172 | 3 | 1,282 | |||||||||||||||||||||||||||||
Home equity | — | — | — | — | — | |||||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | |||||||||||||||||||||||||||||
Total | 20 | $ | 16,366 | $ | 16,447 | 3 | $ | 1,282 | ||||||||||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||||||||
-1 | Represents the following concessions: extension of term. | |||||||||||||||||||||||||||||||||
-2 | Represents the following concessions: extension of term (5 loans; post-modification recorded investment of $4.7 million) and combination of concessions (1 loan; post-modification recorded investment of $2.8 million). | |||||||||||||||||||||||||||||||||
-3 | Represents the following concessions: payment deferral (1 loan; post-modification recorded investment of $1.9 million), temporary reduction of interest rate (10 loans; post-modification recorded investment of $4.0 million), and combination of concessions (1 loan; post-modification recorded investment of $1.3 million). |
Allowance_for_Loan_Losses_Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Allowance for Loan Losses [Abstract] | ' | |||||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||||||
The following tables present a summary of the changes in the allowance for loan losses for the periods indicated: | ||||||||||||||||||||||||||||
As of and for the three months ended September 30, | As of and for the nine months ended September 30, | |||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses, beginning of period: | ||||||||||||||||||||||||||||
Commercial and industrial | $ | 11,883 | $ | 13,243 | $ | 11,825 | $ | 12,163 | ||||||||||||||||||||
Commercial real estate | 48,744 | 64,577 | 52,497 | 63,625 | ||||||||||||||||||||||||
Construction and land | 4,923 | 6,163 | 5,016 | 6,382 | ||||||||||||||||||||||||
Residential | 11,625 | 10,844 | 10,892 | 9,286 | ||||||||||||||||||||||||
Home equity | 1,201 | 1,489 | 1,085 | 1,535 | ||||||||||||||||||||||||
Consumer and other | 412 | 740 | 540 | 1,149 | ||||||||||||||||||||||||
Unallocated | 2,012 | 1,998 | 2,202 | 1,974 | ||||||||||||||||||||||||
Total allowance for loan losses, beginning of period | 80,800 | 99,054 | 84,057 | 96,114 | ||||||||||||||||||||||||
Provision/ (credit) for loan losses: | ||||||||||||||||||||||||||||
Commercial and industrial | (533 | ) | (1,339 | ) | (1,441 | ) | 1,766 | |||||||||||||||||||||
Commercial real estate | (5,719 | ) | (3,035 | ) | (8,266 | ) | (2,147 | ) | ||||||||||||||||||||
Construction and land | (427 | ) | (1,448 | ) | (1,250 | ) | (2,177 | ) | ||||||||||||||||||||
Residential | 549 | 1,659 | 2,687 | 4,498 | ||||||||||||||||||||||||
Home equity | (9 | ) | 69 | 444 | (38 | ) | ||||||||||||||||||||||
Consumer and other | 18 | (38 | ) | (105 | ) | (358 | ) | |||||||||||||||||||||
Unallocated | 121 | 132 | (69 | ) | 156 | |||||||||||||||||||||||
Total provision/ (credit) for loan losses | (6,000 | ) | (4,000 | ) | (8,000 | ) | 1,700 | |||||||||||||||||||||
Loans charged-off: | ||||||||||||||||||||||||||||
Commercial and industrial | (41 | ) | (1,108 | ) | (68 | ) | (3,777 | ) | ||||||||||||||||||||
Commercial real estate | — | (2,339 | ) | (2,339 | ) | (5,606 | ) | |||||||||||||||||||||
Construction and land | — | (710 | ) | (100 | ) | (710 | ) | |||||||||||||||||||||
Residential | — | (1,544 | ) | (1,405 | ) | (2,825 | ) | |||||||||||||||||||||
Home equity | — | (129 | ) | (360 | ) | (129 | ) | |||||||||||||||||||||
Consumer and other | (9 | ) | (19 | ) | (14 | ) | (111 | ) | ||||||||||||||||||||
Total charge-offs | (50 | ) | (5,849 | ) | (4,286 | ) | (13,158 | ) | ||||||||||||||||||||
Recoveries on loans previously charged-off: | ||||||||||||||||||||||||||||
Commercial and industrial | 91 | 794 | 1,084 | 1,438 | ||||||||||||||||||||||||
Commercial real estate | 1,958 | 59 | 3,091 | 3,390 | ||||||||||||||||||||||||
Construction and land | 378 | 1,065 | 1,208 | 1,575 | ||||||||||||||||||||||||
Residential | — | — | — | — | ||||||||||||||||||||||||
Home equity | — | — | 23 | 61 | ||||||||||||||||||||||||
Consumer and other | — | 6 | — | 9 | ||||||||||||||||||||||||
Total recoveries | 2,427 | 1,924 | 5,406 | 6,473 | ||||||||||||||||||||||||
As of and for the three months ended September 30, | As of and for the nine months ended September 30, | |||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses at end of period: | ||||||||||||||||||||||||||||
Commercial and industrial | 11,400 | 11,590 | 11,400 | 11,590 | ||||||||||||||||||||||||
Commercial real estate | 44,983 | 59,262 | 44,983 | 59,262 | ||||||||||||||||||||||||
Construction and land | 4,874 | 5,070 | 4,874 | 5,070 | ||||||||||||||||||||||||
Residential | 12,174 | 10,959 | 12,174 | 10,959 | ||||||||||||||||||||||||
Home equity | 1,192 | 1,429 | 1,192 | 1,429 | ||||||||||||||||||||||||
Consumer and other | 421 | 689 | 421 | 689 | ||||||||||||||||||||||||
Unallocated | 2,133 | 2,130 | 2,133 | 2,130 | ||||||||||||||||||||||||
Total allowance for loan losses at end of period | $ | 77,177 | $ | 91,129 | $ | 77,177 | $ | 91,129 | ||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||||||
The following tables present, by class of receivable, the balance of impaired loans with and without a related allowance, the associated allowance for those impaired loans with a related allowance, and the total unpaid principal on impaired loans: | ||||||||||||||||||||||||||||
As of and for the three and nine months ended September 30, 2013 | ||||||||||||||||||||||||||||
Recorded Investment (1) | Unpaid Principal Balance | Related Allowance | QTD Average Recorded Investment | YTD Average Recorded Investment | QTD Interest Income Recognized while Impaired | YTD Interest Income Recognized while Impaired | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,068 | $ | 3,299 | n/a | $ | 2,558 | $ | 4,521 | $ | 62 | $ | 332 | |||||||||||||||
Commercial real estate | 30,965 | 42,572 | n/a | 30,847 | 34,896 | 247 | 781 | |||||||||||||||||||||
Construction and land | 1,078 | 1,800 | n/a | 1,083 | 1,605 | 6 | 103 | |||||||||||||||||||||
Residential | 3,662 | 5,340 | n/a | 3,229 | 4,141 | 20 | 106 | |||||||||||||||||||||
Home equity | 89 | 89 | n/a | 89 | 141 | 3 | 4 | |||||||||||||||||||||
Consumer and other | 7 | 7 | n/a | 2 | 1 | — | — | |||||||||||||||||||||
Subtotal | 37,869 | 53,107 | n/a | 37,808 | 45,305 | 338 | 1,326 | |||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||
Commercial and industrial | 2,558 | 2,644 | $ | 253 | 2,496 | 2,385 | 1 | 23 | ||||||||||||||||||||
Commercial real estate | 13,905 | 15,197 | 1,508 | 17,630 | 19,909 | 89 | 677 | |||||||||||||||||||||
Construction and land | 4,185 | 4,405 | 794 | 4,185 | 3,260 | — | — | |||||||||||||||||||||
Residential | 12,844 | 12,844 | 1,746 | 13,171 | 12,680 | 100 | 389 | |||||||||||||||||||||
Home equity | — | — | — | — | — | — | — | |||||||||||||||||||||
Consumer and other | — | — | — | — | — | — | — | |||||||||||||||||||||
Subtotal | 33,492 | 35,090 | 4,301 | 37,482 | 38,234 | 190 | 1,089 | |||||||||||||||||||||
Total: | ||||||||||||||||||||||||||||
Commercial and industrial | 4,626 | 5,943 | 253 | 5,054 | 6,906 | 63 | 355 | |||||||||||||||||||||
Commercial real estate | 44,870 | 57,769 | 1,508 | 48,477 | 54,805 | 336 | 1,458 | |||||||||||||||||||||
Construction and land | 5,263 | 6,205 | 794 | 5,268 | 4,865 | 6 | 103 | |||||||||||||||||||||
Residential | 16,506 | 18,184 | 1,746 | 16,400 | 16,821 | 120 | 495 | |||||||||||||||||||||
Home equity | 89 | 89 | — | 89 | 141 | 3 | 4 | |||||||||||||||||||||
Consumer and other | 7 | 7 | — | 2 | 1 | — | — | |||||||||||||||||||||
Total | $ | 71,361 | $ | 88,197 | $ | 4,301 | $ | 75,290 | $ | 83,539 | $ | 528 | $ | 2,415 | ||||||||||||||
___________________ | ||||||||||||||||||||||||||||
-1 | Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, which was applied to principal. | |||||||||||||||||||||||||||
As of and for the three and nine months ended September 30, 2012 | ||||||||||||||||||||||||||||
Recorded Investment (1) | Unpaid Principal Balance | Related Allowance | QTD Average Recorded Investment | YTD Average Recorded Investment | QTD Interest Income Recognized while Impaired | YTD Interest Income Recognized while Impaired | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Commercial and industrial | $ | 5,064 | $ | 8,361 | n/a | $ | 3,686 | $ | 4,826 | $ | — | $ | — | |||||||||||||||
Commercial real estate | 34,789 | 55,034 | n/a | 28,714 | 30,315 | 39 | 226 | |||||||||||||||||||||
Construction and land | 4,630 | 6,783 | n/a | 5,655 | 6,115 | — | 97 | |||||||||||||||||||||
Residential | 9,764 | 11,195 | n/a | 9,482 | 9,747 | 71 | 243 | |||||||||||||||||||||
Home equity | 360 | 360 | n/a | 360 | 354 | 1 | 3 | |||||||||||||||||||||
Consumer and other | — | — | n/a | 73 | 53 | — | — | |||||||||||||||||||||
Subtotal | 54,607 | 81,733 | n/a | 47,970 | 51,410 | 111 | 569 | |||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||
Commercial and industrial | 1,285 | 1,285 | $ | 123 | 2,731 | 1,983 | — | — | ||||||||||||||||||||
Commercial real estate | 25,516 | 26,901 | 2,507 | 24,462 | 25,190 | 200 | 562 | |||||||||||||||||||||
Construction and land | 1,018 | 1,062 | 425 | 2,187 | 1,662 | — | — | |||||||||||||||||||||
Residential | 12,067 | 12,067 | 1,080 | 12,885 | 11,604 | 119 | 277 | |||||||||||||||||||||
Home equity | 131 | 131 | 131 | 131 | 131 | 1 | 4 | |||||||||||||||||||||
Consumer and other | — | — | — | — | — | — | — | |||||||||||||||||||||
Subtotal | 40,017 | 41,446 | 4,266 | 42,396 | 40,570 | 320 | 843 | |||||||||||||||||||||
Total: | ||||||||||||||||||||||||||||
Commercial and industrial | 6,349 | 9,646 | 123 | 6,417 | 6,809 | — | — | |||||||||||||||||||||
Commercial real estate | 60,305 | 81,935 | 2,507 | 53,176 | 55,505 | 239 | 788 | |||||||||||||||||||||
Construction and land | 5,648 | 7,845 | 425 | 7,842 | 7,777 | — | 97 | |||||||||||||||||||||
Residential | 21,831 | 23,262 | 1,080 | 22,367 | 21,351 | 190 | 520 | |||||||||||||||||||||
Home equity | 491 | 491 | 131 | 491 | 485 | 2 | 7 | |||||||||||||||||||||
Consumer and other | — | — | — | 73 | 53 | — | — | |||||||||||||||||||||
Total | $ | 94,624 | $ | 123,179 | $ | 4,266 | $ | 90,366 | $ | 91,980 | $ | 431 | $ | 1,412 | ||||||||||||||
___________________ | ||||||||||||||||||||||||||||
-1 | Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, which was applied to principal. | |||||||||||||||||||||||||||
As of and for the year ended December 31, 2012 | ||||||||||||||||||||||||||||
Recorded Investment (1) | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized while Impaired | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Commercial and industrial | $ | 3,274 | $ | 4,499 | n/a | $ | 4,707 | $ | — | |||||||||||||||||||
Commercial real estate | 40,133 | 64,424 | n/a | 31,736 | 283 | |||||||||||||||||||||||
Construction and land | 1,310 | 2,682 | n/a | 5,532 | 97 | |||||||||||||||||||||||
Residential | 2,337 | 2,594 | n/a | 8,885 | 312 | |||||||||||||||||||||||
Home equity | 360 | 360 | n/a | 355 | 3 | |||||||||||||||||||||||
Consumer and other | — | — | n/a | 40 | — | |||||||||||||||||||||||
Subtotal | 47,414 | 74,559 | n/a | 51,255 | 695 | |||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||
Commercial and industrial | 1,149 | 1,191 | $ | 118 | 1,855 | 1 | ||||||||||||||||||||||
Commercial real estate | 18,519 | 19,814 | 1,667 | 24,510 | 727 | |||||||||||||||||||||||
Construction and land | 903 | 953 | 189 | 1,486 | — | |||||||||||||||||||||||
Residential | 13,539 | 13,798 | 1,403 | 11,781 | 374 | |||||||||||||||||||||||
Home equity | — | — | — | 114 | 5 | |||||||||||||||||||||||
Consumer and other | — | — | — | — | — | |||||||||||||||||||||||
Subtotal | 34,110 | 35,756 | 3,377 | 39,746 | 1,107 | |||||||||||||||||||||||
Total: | ||||||||||||||||||||||||||||
Commercial and industrial | 4,423 | 5,690 | 118 | 6,562 | 1 | |||||||||||||||||||||||
Commercial real estate | 58,652 | 84,238 | 1,667 | 56,246 | 1,010 | |||||||||||||||||||||||
Construction and land | 2,213 | 3,635 | 189 | 7,018 | 97 | |||||||||||||||||||||||
Residential | 15,876 | 16,392 | 1,403 | 20,666 | 686 | |||||||||||||||||||||||
Home equity | 360 | 360 | — | 469 | 8 | |||||||||||||||||||||||
Consumer and other | — | — | — | 40 | — | |||||||||||||||||||||||
Total | $ | 81,524 | $ | 110,315 | $ | 3,377 | $ | 91,001 | $ | 1,802 | ||||||||||||||||||
___________________ | ||||||||||||||||||||||||||||
-1 | Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, which was applied to principal. | |||||||||||||||||||||||||||
The following tables present the Company’s allowance for loan losses and loan portfolio at September 30, 2013 and December 31, 2012 by portfolio segment, disaggregated by method of impairment analysis. The Company had no loans acquired with deteriorated credit quality at September 30, 2013 or December 31, 2012. | ||||||||||||||||||||||||||||
Commercial and industrial | Commercial real estate | Construction and land | Residential | |||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses balance at September 30, 2013 attributable to: | ||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 11,147 | $ | 43,475 | $ | 4,080 | $ | 10,428 | ||||||||||||||||||||
Loans individually evaluated | 253 | 1,508 | 794 | 1,746 | ||||||||||||||||||||||||
Total allowance for loan losses | $ | 11,400 | $ | 44,983 | $ | 4,874 | $ | 12,174 | ||||||||||||||||||||
Recorded investment (loan balance) at September 30, 2013: | ||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 783,799 | $ | 1,677,161 | $ | 149,346 | $ | 1,990,196 | ||||||||||||||||||||
Loans individually evaluated | 4,626 | 44,870 | 5,263 | 16,506 | ||||||||||||||||||||||||
Total Loans | $ | 788,425 | $ | 1,722,031 | $ | 154,609 | $ | 2,006,702 | ||||||||||||||||||||
Home equity | Consumer | Unallocated | Total | |||||||||||||||||||||||||
and other | ||||||||||||||||||||||||||||
(Continued from above) | (In thousands) | |||||||||||||||||||||||||||
Allowance for loan losses balance at September 30, 2013 attributable to: | ||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 1,192 | $ | 421 | $ | 2,133 | $ | 72,876 | ||||||||||||||||||||
Loans individually evaluated | — | — | — | 4,301 | ||||||||||||||||||||||||
Total allowance for loan losses | $ | 1,192 | $ | 421 | $ | 2,133 | $ | 77,177 | ||||||||||||||||||||
Recorded investment (loan balance) at September 30, 2013: | ||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 118,005 | $ | 132,354 | $ | — | $ | 4,850,861 | ||||||||||||||||||||
Loans individually evaluated | 89 | 7 | — | 71,361 | ||||||||||||||||||||||||
Total Loans | $ | 118,094 | $ | 132,361 | $ | — | $ | 4,922,222 | ||||||||||||||||||||
Commercial and industrial | Commercial real estate | Construction and land | Residential | |||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses balance at December 31, 2012 attributable to: | ||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 11,707 | $ | 50,830 | $ | 4,827 | $ | 9,489 | ||||||||||||||||||||
Loans individually evaluated | 118 | 1,667 | 189 | 1,403 | ||||||||||||||||||||||||
Total allowance for loan losses | $ | 11,825 | $ | 52,497 | $ | 5,016 | $ | 10,892 | ||||||||||||||||||||
Recorded investment (loan balance) at December 31, 2012: | ||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 801,903 | $ | 1,632,698 | $ | 135,357 | $ | 1,890,213 | ||||||||||||||||||||
Loans individually evaluated | 4,423 | 58,652 | 2,213 | 15,876 | ||||||||||||||||||||||||
Total Loans | $ | 806,326 | $ | 1,691,350 | $ | 137,570 | $ | 1,906,089 | ||||||||||||||||||||
Home equity | Consumer | Unallocated | Total | |||||||||||||||||||||||||
and other | ||||||||||||||||||||||||||||
(Continued from above) | (In thousands) | |||||||||||||||||||||||||||
Allowance for loan losses balance at December 31, 2012 attributable to: | ||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 1,085 | $ | 540 | $ | 2,202 | $ | 80,680 | ||||||||||||||||||||
Loans individually evaluated | — | — | — | 3,377 | ||||||||||||||||||||||||
Total allowance for loan losses | $ | 1,085 | $ | 540 | $ | 2,202 | $ | 84,057 | ||||||||||||||||||||
Recorded investment (loan balance) at December 31, 2012: | ||||||||||||||||||||||||||||
Loans collectively evaluated | $ | 123,191 | $ | 149,250 | $ | — | $ | 4,732,612 | ||||||||||||||||||||
Loans individually evaluated | 360 | — | — | 81,524 | ||||||||||||||||||||||||
Total Loans | $ | 123,551 | $ | 149,250 | $ | — | $ | 4,814,136 | ||||||||||||||||||||
Derivatives_and_Hedging_Activi1
Derivatives and Hedging Activities (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract] | ' | |||||||||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | ' | |||||||||||||||||||||||
The following table presents the fair value of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets as of September 30, 2013 and December 31, 2012: | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
Asset derivatives | Liability derivatives | Asset derivatives | Liability derivatives | |||||||||||||||||||||
Balance | Fair value (1) | Balance | Fair value (1) | Balance | Fair value (1) | Balance | Fair value (1) | |||||||||||||||||
sheet | sheet | sheet | sheet | |||||||||||||||||||||
location | location | location | location | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||||||||||||
Interest rate products | Other | $ | — | Other | $ | (4,172 | ) | Other | $ | — | Other | $ | (5,189 | ) | ||||||||||
assets | liabilities | assets | liabilities | |||||||||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||
Interest rate products | Other | 1,742 | Other | (1,807 | ) | Other | 2,915 | Other | (3,047 | ) | ||||||||||||||
assets | liabilities | assets | liabilities | |||||||||||||||||||||
Foreign exchange contracts | Other assets | — | Other | — | Other assets | 120 | Other | (120 | ) | |||||||||||||||
liabilities | liabilities | |||||||||||||||||||||||
Total | $ | 1,742 | $ | (5,979 | ) | $ | 3,035 | $ | (8,356 | ) | ||||||||||||||
___________________ | ||||||||||||||||||||||||
-1 | For additional details, see Part I. Item 1. “Notes to Unaudited Consolidated Financial Statements-Note 5: Fair Value Measurements.” | |||||||||||||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | ' | |||||||||||||||||||||||
The following table presents the effect of the Company’s derivative financial instruments in the consolidated statements of operations for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||
Derivatives in cash | Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | Location of gain or (loss) reclassified from accumulated OCI into income (effective portion) | Amount of gain or (loss) reclassified from accumulated OCI into income (effective portion) | |||||||||||||||||||||
flow hedging | three months ended September 30, | three months ended September 30, | ||||||||||||||||||||||
relationships | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Interest rate products | $ | (1,643 | ) | $ | (641 | ) | Interest income | $ | (553 | ) | $ | (443 | ) | |||||||||||
Total | $ | (1,643 | ) | $ | (641 | ) | $ | (553 | ) | $ | (443 | ) | ||||||||||||
Derivatives in cash | Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | Location of gain or (loss) reclassified from accumulated OCI into income (effective portion) | Amount of gain or (loss) reclassified from accumulated OCI into income (effective portion) | |||||||||||||||||||||
flow hedging | nine months ended September 30, | nine months ended September 30, | ||||||||||||||||||||||
relationships | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Interest rate products | $ | (469 | ) | $ | (1,652 | ) | Interest income | $ | (1,486 | ) | $ | (1,295 | ) | |||||||||||
Total | $ | (469 | ) | $ | (1,652 | ) | $ | (1,486 | ) | $ | (1,295 | ) | ||||||||||||
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||||||||||||
The following table presents the components of the Company’s accumulated other comprehensive income/ (loss) related to the derivatives for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Accumulated other comprehensive income on cash flow hedges, balance at beginning of period | $ | (1,745 | ) | $ | (3,128 | ) | $ | (2,969 | ) | $ | (3,106 | ) | ||||||||||||
Net change in unrealized gain/ (loss) on cash flow hedges | (648 | ) | (113 | ) | 576 | (135 | ) | |||||||||||||||||
Accumulated other comprehensive income on cash flow hedges, balance at end of period | $ | (2,393 | ) | $ | (3,241 | ) | $ | (2,393 | ) | $ | (3,241 | ) | ||||||||||||
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | ' | |||||||||||||||||||||||
The following table presents the effect of the Bank’s derivative financial instruments, not designated as hedging instruments, in the consolidated statement of operations for the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||||||||||
Amount of gain or (loss), net, recognized in income on derivatives | ||||||||||||||||||||||||
Derivatives not | Location of gain or (loss) recognized in income on derivative | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||
designated as hedging | ||||||||||||||||||||||||
instruments | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Interest rate products | Other income/ (expense) | $ | (5 | ) | $ | (21 | ) | $ | 14 | $ | 62 | |||||||||||||
Foreign exchange contracts | Other income/ (expense) | 3 | 4 | 8 | 5 | |||||||||||||||||||
Total | $ | (2 | ) | $ | (17 | ) | $ | 22 | $ | 67 | ||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Income Tax Disclosure [Abstract] | ' | |||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | |||||||
The following table presents the components of income tax expense for continuing operations, discontinued operations, noncontrolling interests and the Company: | ||||||||
Nine months ended September 30, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Income from continuing operations: | ||||||||
Income before income taxes | $ | 74,818 | $ | 50,985 | ||||
Income tax expense | 25,005 | 14,215 | ||||||
Net income from continuing operations | $ | 49,813 | $ | 36,770 | ||||
Effective tax rate, continuing operations | 33.4 | % | 27.9 | % | ||||
Income from discontinued operations: | ||||||||
Income before income taxes | $ | 10,353 | $ | 6,999 | ||||
Income tax expense | 4,529 | 1,183 | ||||||
Net income from discontinued operations | $ | 5,824 | $ | 5,816 | ||||
Effective tax rate, discontinued operations | 43.7 | % | 16.9 | % | ||||
Less: Income attributable to noncontrolling interests: | ||||||||
Income before income taxes | $ | 2,770 | $ | 2,407 | ||||
Income tax expense | — | — | ||||||
Net income attributable to noncontrolling interests | $ | 2,770 | $ | 2,407 | ||||
Effective tax rate, noncontrolling interests | — | % | — | % | ||||
Income attributable to the Company | ||||||||
Income before income taxes | $ | 82,401 | $ | 55,577 | ||||
Income tax expense | 29,534 | 15,398 | ||||||
Net income attributable to the Company | $ | 52,867 | $ | 40,179 | ||||
Effective tax rate attributable to the Company | 35.8 | % | 27.7 | % |
Noncontrolling_Interests_Table
Noncontrolling Interests (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Noncontrolling interests redemption values [Abstract] | ' | |||||||
Redeemable Noncontrolling Interest [Table Text Block] | ' | |||||||
The following table presents the contractually determined maximum redemption values to repurchase the noncontrolling interests at the periods indicated: | ||||||||
September 30, 2013 | December 31, 2012 | |||||||
(In thousands) | ||||||||
Anchor | $ | 10,919 | $ | 11,105 | ||||
BOS | 4,206 | 5,782 | ||||||
DGHM | 2,238 | 2,400 | ||||||
Total | $ | 17,363 | $ | 19,287 | ||||
Redeemable noncontrolling interests | $ | 17,224 | $ | 19,287 | ||||
Noncontrolling interests | $ | 139 | $ | — | ||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Table Text Block] | ' | |||||||
The following table presents an analysis of the Company’s redeemable noncontrolling interests for the periods indicated: | ||||||||
Nine months ended September 30, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Redeemable noncontrolling interests at beginning of year | $ | 19,287 | $ | 21,691 | ||||
Net income attributable to noncontrolling interests | 2,770 | 2,407 | ||||||
Distributions | (2,341 | ) | (3,168 | ) | ||||
DTC disposition | — | (1,470 | ) | |||||
Adjustments to fair value | (2,492 | ) | 215 | |||||
Redeemable noncontrolling interests at end of period | $ | 17,224 | $ | 19,675 | ||||
Equity_Preferred_Stock_Detail_
Equity Preferred Stock Detail (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Preferred Stock Detail [Abstract] | ' | |||||||
Schedule of Stock by Class [Table Text Block] | ' | |||||||
The following table presents the details of the classes of preferred stock outstanding as of the dates indicated: | ||||||||
September 30, 2013 | December 31, 2012 | |||||||
(Dollars in thousands) | ||||||||
Preferred stock, $1.00 par value; authorized: 2,000,000 shares: | ||||||||
Series B, issued and outstanding (contingently convertible): 0 shares at September 30, 2013 and 401 shares at December 31, 2012; liquidation value: $100,000 per share | $ | — | $ | 58,089 | ||||
Series D, 6.95% Non-Cumulative Perpetual, issued and outstanding: 50,000 shares at September 30, 2013, 0 shares at December 31, 2012; liquidation preference: $1,000 per share | 47,753 | — | ||||||
Total preferred stock | $ | 47,753 | $ | 58,089 | ||||
Restructuring_Tables
Restructuring (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||||||||||||
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | ' | |||||||||||||||||||
The following table presents a summary of the restructuring activity for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||
Severance Charges | Contract Termination Fees | Professional Expenses | Other Associated Costs | Total | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Accrued charges at December 31, 2011 | $ | 2,658 | $ | 211 | $ | 230 | $ | — | $ | 3,099 | ||||||||||
Costs incurred | (1 | ) | — | 128 | 8 | 135 | ||||||||||||||
Costs paid | (459 | ) | — | (254 | ) | (8 | ) | (721 | ) | |||||||||||
Accrued charges at March 31, 2012 | 2,198 | 211 | 104 | — | 2,513 | |||||||||||||||
Costs incurred | 22 | 255 | 183 | 104 | 564 | |||||||||||||||
Costs paid | (1,039 | ) | (255 | ) | (287 | ) | (104 | ) | (1,685 | ) | ||||||||||
Accrued charges at June 30, 2012 | 1,181 | 211 | — | — | 1,392 | |||||||||||||||
Costs incurred | 3,409 | 147 | 22 | 3 | 3,581 | |||||||||||||||
Costs paid | (577 | ) | (260 | ) | (22 | ) | (3 | ) | (862 | ) | ||||||||||
Accrued charges at September 30, 2012 | $ | 4,013 | $ | 98 | $ | — | $ | — | $ | 4,111 | ||||||||||
Accrued charges at December 31, 2012 | $ | 3,517 | $ | 98 | $ | 8 | $ | — | $ | 3,623 | ||||||||||
Costs incurred | — | — | — | — | — | |||||||||||||||
Costs paid | (736 | ) | — | (8 | ) | — | (744 | ) | ||||||||||||
Accrued charges at March 31, 2013 | 2,781 | 98 | — | — | 2,879 | |||||||||||||||
Costs incurred | — | — | — | — | — | |||||||||||||||
Costs paid | (976 | ) | — | — | — | (976 | ) | |||||||||||||
Accrued charges at June 30, 2013 | 1,805 | 98 | — | — | 1,903 | |||||||||||||||
Costs incurred | — | — | — | — | — | |||||||||||||||
Costs paid | (1,006 | ) | — | — | — | (1,006 | ) | |||||||||||||
Accrued charges at September 30, 2013 | $ | 799 | $ | 98 | $ | — | $ | — | $ | 897 | ||||||||||
Earnings_Per_Share_Basic_Earni
Earnings Per Share Basic Earnings Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ||||
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | $17,886 | $15,696 | $49,813 | $36,770 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 871 | 855 | 2,770 | 2,407 | ||||
Income (Loss) from Continuing Operations Attributable to Parent | 17,015 | 14,841 | 47,043 | 34,363 | ||||
Noncontrolling Interest, Change in Redemption Value | 274 | [1] | -344 | [1] | 162 | [1] | -267 | [1] |
Preferred Stock Dividends and Other Adjustments | -939 | -91 | -13,752 | [2] | -275 | |||
Other Preferred Stock Dividends and Adjustments | -665 | -435 | -13,590 | -542 | ||||
Net Income Loss Continuing Available to Common Shareholders Basic Before Participating | 16,350 | 14,406 | 33,453 | 33,821 | ||||
Undistributed Earnings Continuing Ops Allocated to Participating Securities | -143 | -1,454 | -1,069 | -3,411 | ||||
Net Income (Loss) from Continuing Ops Available to Common Stockholders, Basic | 16,207 | 12,952 | 32,384 | 30,410 | ||||
Net income from discontinued operations | 1,321 | 1,672 | 5,824 | 5,816 | ||||
Undistributed Earnings Discontinued Operations Allocated to Participating Securities | -17 | -178 | -309 | -629 | ||||
Net Income from Discontinued Ops Available to Common Stockholders, Basic | 1,304 | 1,494 | 5,515 | 5,187 | ||||
Net Income (Loss) Available to Common Stockholders Basic before Allocation to Participating Securities | 17,671 | 16,078 | 39,277 | 39,637 | ||||
Undistributed Earnings Allocated to Participating Securities | -160 | -1,632 | -1,378 | -4,040 | ||||
Net income attributable to common shareholders for earnings/ (loss) per share calculation | 17,511 | 14,446 | 37,899 | 35,597 | ||||
Income (Loss) from Continuing Operations, Per Basic Share | $0.21 | $0.17 | $0.42 | $0.40 | ||||
Income (Loss) from Discontinued Operations, Net of Tax, Per Basic Share | $0.02 | $0.02 | $0.07 | $0.07 | ||||
Earnings Per Share, Basic | $0.23 | $0.19 | $0.49 | $0.47 | ||||
Series B Preferred Stock [Member] | ' | ' | ' | ' | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ||||
Preferred Stock Dividends and Other Adjustments | ' | ' | ($11,700) | ' | ||||
Common Stock [Member] | ' | ' | ' | ' | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ||||
Weighted Average Basic Common Shares Outstanding | 77,670,017 | 76,290,382 | 77,249,660 | 75,911,520 | ||||
[1] | See Part II. Item 8. “Financial Statements and Supplementary Data—Note 14: Noncontrolling Interests†in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 for a description of the redemption values related to the redeemable noncontrolling interests. In accordance with the Financial Accounting Standards Board (“FASBâ€) Accounting Standards Codification (“ASCâ€) 480, Distinguishing Liabilities from Equity (“ASC 480â€), an increase in redemption value from period to period reduces income attributable to common shareholders. Decreases in redemption value from period to period increase income attributable to common shareholders, but only to the extent that the cumulative change in redemption value remains a cumulative increase since adoption of this standard in the first quarter of 2009. | |||||||
[2] | Consideration paid in excess of carrying value for the repurchase of the Series B preferred stock of $11.7 million is considered a deemed dividend and, for purposes of calculating EPS, reduces net income attributable to common shareholders for the nine months ended September 30, 2013. |
Earnings_Per_Share_Diluted_Ear
Earnings Per Share Diluted Earnings Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ||||
Net Income (Loss) from Continuing Ops Available to Common Stockholders, Basic | $16,207 | $12,952 | $32,384 | $30,410 | ||||
Dilutive Securities, Effect on Basic Earnings Per Share | 0 | 0 | 0 | 0 | ||||
Net Income (Loss) from Continuing Operations Available to Common Stockholders, Diluted | 16,207 | 12,952 | 32,384 | 30,410 | ||||
Net Income from Discontinued Ops Available to Common Stockholders, Basic | 1,304 | 1,494 | 5,515 | 5,187 | ||||
Net Income (Loss) Available to Common Stockholders, Diluted | $17,511 | $14,446 | $37,899 | $35,597 | ||||
Income (Loss) from Continuing Operations, Per Diluted Share | $0.20 | $0.17 | $0.41 | $0.39 | ||||
Income (Loss) from Discontinued Operations, Net of Tax, Per Diluted Share | $0.02 | $0.02 | $0.07 | $0.07 | ||||
Earnings Per Share, Diluted | $0.22 | $0.19 | $0.48 | $0.46 | ||||
Common Stock, Dividends, Per Share, Cash Paid | $0.07 | $0.01 | $0.17 | $0.03 | ||||
Common Stock [Member] | ' | ' | ' | ' | ||||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ||||
Weighted Average Basic Common Shares Outstanding | 77,670,017 | 76,290,382 | 77,249,660 | 75,911,520 | ||||
Incremental Common Shares Attributable to Share-based Payment Arrangements | 708,745 | [1] | 621,308 | [1] | 604,893 | [1] | 531,523 | [1] |
Incremental Common Shares Attributable to Call Options and Warrants | 814,986 | [1] | 455,921 | [1] | 633,617 | [1] | 371,160 | [1] |
Weighted Average Number Diluted Shares Outstanding Adjustment | 1,523,731 | 1,077,229 | 1,238,510 | 902,683 | ||||
Weighted Average Number of Shares Outstanding, Diluted | 79,193,748 | [1] | 77,367,611 | [1] | 78,488,170 | [1] | 76,814,203 | [1] |
[1] | The diluted EPS computations for the three and nine months ended September 30, 2013 and 2012 do not assume the conversion, exercise, or contingent issuance of the following shares for these periods because the result would have been anti-dilutive for the periods indicated. As a result of the anti-dilution, the potential common shares excluded from the diluted EPS computation are as follows: Three months ended September 30, Nine months ended September 30, 2013 2012 2013 2012Shares excluded due to anti-dilution (treasury method):(In thousands)Potential common shares from: Convertible trust preferred securities (a)1 784 1 784Total shares excluded due to anti-dilution1 784 1 784 Three months ended September 30, Nine months ended September 30, 2013 2012 2013 2012Shares excluded due to exercise price exceeding the average market price of common shares during the period (total outstanding):(In thousands)Potential common shares from: Stock options or other dilutive securities (b)1,214 2,102 1,446 2,180Total shares excluded due to exercise price exceeding the average market price of common shares during the period1,214 2,102 1,446 2,180(a) If the effect of the conversion of the trust preferred securities would have been dilutive, interest expense, net of tax, related to the convertible trust preferred securities of $0.2 million and $0.8 million for the three and nine months ended September 30, 2012, respectively, would have been added back to net income attributable to common shareholders for diluted EPS computations for the period presented. None would be added back for the three or nine months ended September 30, 2013.(b)Options to purchase shares of common stock and other dilutive securities that were outstanding at period ends were not included in the computation of diluted EPS or in the above anti-dilution table because their exercise or conversion prices were greater than the average market price of the common shares during the respective periods. |
Earnings_Per_Share_Antidilutiv
Earnings Per Share Antidilutive Securities (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
Share data in Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1 | 784 | 1 | 784 | ||||
Expense Related to Antidilutive Securities that Would Have Been Added Back to Income if Securities Were Dilutive | $0 | $200,000 | $0 | $800,000 | ||||
Convertible Debt Securities [Member] | ' | ' | ' | ' | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1 | [1] | 784 | [1] | 1 | [1] | 784 | [1] |
[1] | If the effect of the conversion of the trust preferred securities would have been dilutive, interest expense, net of tax, related to the convertible trust preferred securities of $0.2 million and $0.8 million for the three and nine months ended September 30, 2012, respectively, would have been added back to net income attributable to common shareholders for diluted EPS computations for the period presented. None would be added back for the three or nine months ended September 30, 2013. |
Earnings_Per_Share_Securities_
Earnings Per Share Securities Excluded Due to Exercise Price Exceeding Average Price During Period (Details) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Shares Excluded Due to Exercise Price Exceeding Average Price During Period [Line Items] | ' | ' | ' | ' | ||||
Shares Excluded Due to Exercise Price Exceeding Average Price During Period | 1,214 | 2,102 | 1,446 | 2,180 | ||||
Outstanding Stock Awards [Member] | ' | ' | ' | ' | ||||
Shares Excluded Due to Exercise Price Exceeding Average Price During Period [Line Items] | ' | ' | ' | ' | ||||
Shares Excluded Due to Exercise Price Exceeding Average Price During Period | 1,214 | [1] | 2,102 | [1] | 1,446 | [1] | 2,180 | [1] |
[1] | Options to purchase shares of common stock and other dilutive securities that were outstanding at period ends were not included in the computation of diluted EPS or in the above anti-dilution table because their exercise or conversion prices were greater than the average market price of the common shares during the respective periods. |
Reportable_Segments_Details
Reportable Segments (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Interest Income (Expense), Net | $42,302,000 | $46,366,000 | $130,477,000 | $137,730,000 | ' | ||||
Noninterest Income | 30,094,000 | 28,604,000 | 101,546,000 | 84,067,000 | ' | ||||
Revenues | 72,396,000 | 74,970,000 | 232,023,000 | 221,797,000 | ' | ||||
Noninterest Expense | 51,953,000 | 58,150,000 | 165,205,000 | 169,112,000 | ' | ||||
Income tax expense | 8,557,000 | 5,124,000 | 25,005,000 | 14,215,000 | ' | ||||
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | 17,886,000 | 15,696,000 | 49,813,000 | 36,770,000 | ' | ||||
Net Income Attributable to Noncontrolling Interest | 871,000 | 855,000 | 2,770,000 | 2,407,000 | ' | ||||
Net Income (Loss) Attributable to Parent | 18,336,000 | 16,513,000 | 52,867,000 | 40,179,000 | ' | ||||
Amortization of intangibles | 1,056,000 | 1,082,000 | 3,275,000 | 3,263,000 | ' | ||||
Total assets | 6,274,939,000 | 6,272,784,000 | 6,274,939,000 | 6,272,784,000 | 6,465,005,000 | ||||
Assets under Management, Carrying Amount | 22,748,000,000 | [1] | 20,114,000,000 | [1] | 22,748,000,000 | [1] | 20,114,000,000 | [1] | ' |
Depreciation | 1,505,000 | 1,704,000 | 4,658,000 | 4,970,000 | ' | ||||
Restructuring Charges | 0 | 3,581,000 | 0 | 4,280,000 | ' | ||||
Net income from discontinued operations | 1,321,000 | 1,672,000 | 5,824,000 | 5,816,000 | ' | ||||
Gain on sale of Pacific Northwest offices | 0 | 0 | 10,574,000 | 0 | ' | ||||
Reportable Segment [Member] | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Interest Income (Expense), Net | 43,391,000 | 47,824,000 | 133,804,000 | 142,507,000 | ' | ||||
Noninterest Income | 30,089,000 | 27,474,000 | 100,639,000 | 81,243,000 | ' | ||||
Revenues | 73,480,000 | 75,298,000 | 234,443,000 | 223,750,000 | ' | ||||
Noninterest Expense | 48,434,000 | 51,432,000 | 150,088,000 | 151,715,000 | ' | ||||
Income tax expense | 10,770,000 | 9,877,000 | 31,982,000 | 24,060,000 | ' | ||||
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | 20,276,000 | 17,989,000 | 60,373,000 | 46,275,000 | ' | ||||
Net Income Attributable to Noncontrolling Interest | 871,000 | 855,000 | 2,770,000 | 2,407,000 | ' | ||||
Net Income (Loss) Attributable to Parent | 19,405,000 | 17,134,000 | 57,603,000 | 43,868,000 | ' | ||||
Amortization of intangibles | 1,056,000 | 1,082,000 | 3,275,000 | 3,263,000 | ' | ||||
Total assets | 6,263,496,000 | 6,248,587,000 | 6,263,496,000 | 6,248,587,000 | ' | ||||
Assets under Management, Carrying Amount | 22,769,000,000 | [1] | 20,134,000,000 | [1] | 22,769,000,000 | [1] | 20,134,000,000 | [1] | ' |
Depreciation | 1,429,000 | 1,646,000 | 4,491,000 | 4,822,000 | ' | ||||
Private Banking Segment [Member] | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Interest Income (Expense), Net | 43,371,000 | 47,812,000 | 133,738,000 | 142,467,000 | ' | ||||
Noninterest Income | 8,873,000 | 7,937,000 | 38,078,000 | [2] | 24,233,000 | ' | |||
Revenues | 52,244,000 | 55,749,000 | 171,816,000 | 166,700,000 | ' | ||||
Noninterest Expense | 32,717,000 | [3] | 36,785,000 | [3] | 103,857,000 | [3] | 108,030,000 | [3] | ' |
Income tax expense | 8,774,000 | 8,133,000 | 26,190,000 | 19,312,000 | ' | ||||
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | 16,753,000 | 14,831,000 | 49,769,000 | 37,658,000 | ' | ||||
Net Income Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 | ' | ||||
Net Income (Loss) Attributable to Parent | 16,753,000 | 14,831,000 | 49,769,000 | 37,658,000 | ' | ||||
Amortization of intangibles | 69,000 | 26,000 | 210,000 | 79,000 | ' | ||||
Total assets | 6,090,343,000 | 6,071,302,000 | 6,090,343,000 | 6,071,302,000 | ' | ||||
Assets under Management, Carrying Amount | 4,263,000,000 | [1] | 3,784,000,000 | [1] | 4,263,000,000 | [1] | 3,784,000,000 | [1] | ' |
Depreciation | 1,282,000 | 1,496,000 | 4,050,000 | 4,364,000 | ' | ||||
Investment Managers Segment [Member] | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Interest Income (Expense), Net | 5,000 | 6,000 | 15,000 | 21,000 | ' | ||||
Noninterest Income | 10,518,000 | 10,043,000 | 31,480,000 | 29,110,000 | ' | ||||
Revenues | 10,523,000 | 10,049,000 | 31,495,000 | 29,131,000 | ' | ||||
Noninterest Expense | 8,376,000 | 7,841,000 | 24,422,000 | 23,351,000 | ' | ||||
Income tax expense | 714,000 | 748,000 | 2,329,000 | 1,977,000 | ' | ||||
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | 1,433,000 | 1,460,000 | 4,744,000 | 3,803,000 | ' | ||||
Net Income Attributable to Noncontrolling Interest | 438,000 | 444,000 | 1,425,000 | 1,184,000 | ' | ||||
Net Income (Loss) Attributable to Parent | 995,000 | 1,016,000 | 3,319,000 | 2,619,000 | ' | ||||
Amortization of intangibles | 739,000 | 800,000 | 2,319,000 | 2,401,000 | ' | ||||
Total assets | 101,981,000 | 105,349,000 | 101,981,000 | 105,349,000 | ' | ||||
Assets under Management, Carrying Amount | 9,697,000,000 | [1] | 8,553,000,000 | [1] | 9,697,000,000 | [1] | 8,553,000,000 | [1] | ' |
Depreciation | 58,000 | 59,000 | 164,000 | 189,000 | ' | ||||
Wealth Advisors Segment [Member] | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Interest Income (Expense), Net | 15,000 | 6,000 | 51,000 | 19,000 | ' | ||||
Noninterest Income | 10,698,000 | 9,494,000 | 31,081,000 | 27,900,000 | ' | ||||
Revenues | 10,713,000 | 9,500,000 | 31,132,000 | 27,919,000 | ' | ||||
Noninterest Expense | 7,341,000 | 6,806,000 | 21,809,000 | 20,334,000 | ' | ||||
Income tax expense | 1,282,000 | 996,000 | 3,463,000 | 2,771,000 | ' | ||||
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | 2,090,000 | 1,698,000 | 5,860,000 | 4,814,000 | ' | ||||
Net Income Attributable to Noncontrolling Interest | 433,000 | 411,000 | 1,345,000 | 1,223,000 | ' | ||||
Net Income (Loss) Attributable to Parent | 1,657,000 | 1,287,000 | 4,515,000 | 3,591,000 | ' | ||||
Amortization of intangibles | 248,000 | 256,000 | 746,000 | 783,000 | ' | ||||
Total assets | 71,172,000 | 71,936,000 | 71,172,000 | 71,936,000 | ' | ||||
Assets under Management, Carrying Amount | 8,809,000,000 | [1] | 7,797,000,000 | [1] | 8,809,000,000 | [1] | 7,797,000,000 | [1] | ' |
Depreciation | 89,000 | 91,000 | 277,000 | 269,000 | ' | ||||
Holding Company and Eliminations Segment [Domain] | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Interest Income (Expense), Net | -1,089,000 | -1,458,000 | -3,327,000 | -4,777,000 | ' | ||||
Noninterest Income | 5,000 | 1,130,000 | 907,000 | 2,824,000 | ' | ||||
Revenues | -1,084,000 | -328,000 | -2,420,000 | -1,953,000 | ' | ||||
Noninterest Expense | 3,519,000 | [3] | 6,718,000 | [3] | 15,117,000 | [3] | 17,397,000 | [3] | ' |
Income tax expense | -2,213,000 | -4,753,000 | -6,977,000 | -9,845,000 | ' | ||||
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | -2,390,000 | -2,293,000 | -10,560,000 | -9,505,000 | ' | ||||
Net Income Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 | ' | ||||
Net Income (Loss) Attributable to Parent | -1,069,000 | [4] | -621,000 | [4] | -4,736,000 | [4] | -3,689,000 | [4] | ' |
Amortization of intangibles | 0 | 0 | 0 | 0 | ' | ||||
Total assets | 11,443,000 | 24,197,000 | 11,443,000 | 24,197,000 | ' | ||||
Assets under Management, Carrying Amount | -21,000,000 | [1] | -20,000,000 | [1] | -21,000,000 | [1] | -20,000,000 | [1] | ' |
Depreciation | $76,000 | $58,000 | $167,000 | $148,000 | ' | ||||
[1] | “AUM†represents Assets Under Management and Advisory at the affiliates. AUM at DTC have been removed since DTC operations are classified with discontinued operations. | ||||||||
[2] | Included in Bank non-interest income for the nine months ended September 30, 2013 is the $10.6 million gain on sale of its three offices in the Pacific Northwest region. | ||||||||
[3] | Non-interest expense for the three and nine months ended September 30, 2013 includes no restructuring expense. Non-interest expense for the three and nine months ended September 30, 2012 includes $3.6 million and $4.3 million, respectively, of restructuring expense. Restructuring expenses were incurred in the Private Banking segment as well as at the Holding Company. | ||||||||
[4] | Net income from discontinued operations for the three months ended September 30, 2013, and 2012 of $1.3 million, and $1.7 million, respectively, and for the nine months ended September 30, 2013, and 2012, of $5.8 million and $5.8 million, respectively, are included in Holding Company and Eliminations in the calculation of net income attributable to the Company. |
Reportable_Segments_Segments_T
Reportable Segments Segments Text Disclosure (Details) | 9 Months Ended |
Sep. 30, 2013 | |
segments | |
Segment Reporting Information [Line Items] | ' |
Number of Reportable Segments | 3 |
Investments_Schedule_of_Availa
Investments Schedule of Available-for-sale Securities (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Available-for-sale Securities, Amortized Cost Basis | $704,968 | $690,556 | ||
Available-for-sale Securities, Gross Unrealized Gains | 4,757 | 9,851 | ||
Available-for-sale Securities, Gross Unrealized Losses | -6,781 | -1,107 | ||
Available-for-sale securities at fair value | 702,944 | 699,300 | ||
US Government and Government Agencies and Authorities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Available-for-sale Securities, Amortized Cost Basis | 2,309 | 2,781 | ||
Available-for-sale Securities, Gross Unrealized Gains | 19 | 0 | ||
Available-for-sale Securities, Gross Unrealized Losses | -29 | -28 | ||
Available-for-sale securities at fair value | 2,299 | 2,753 | ||
US Government-sponsored Enterprises Debt Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Available-for-sale Securities, Amortized Cost Basis | 222,522 | 154,058 | ||
Available-for-sale Securities, Gross Unrealized Gains | 362 | 962 | ||
Available-for-sale Securities, Gross Unrealized Losses | -941 | -18 | ||
Available-for-sale securities at fair value | 221,943 | 155,002 | ||
Municipal Bonds [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Available-for-sale Securities, Amortized Cost Basis | 216,361 | 207,952 | ||
Available-for-sale Securities, Gross Unrealized Gains | 1,423 | 3,172 | ||
Available-for-sale Securities, Gross Unrealized Losses | -1,818 | -140 | ||
Available-for-sale securities at fair value | 215,966 | 210,984 | ||
Mortgage Backed Securities, Other [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Available-for-sale Securities, Amortized Cost Basis | 248,502 | [1] | 313,239 | [1] |
Available-for-sale Securities, Gross Unrealized Gains | 2,722 | [1] | 5,597 | [1] |
Available-for-sale Securities, Gross Unrealized Losses | -3,986 | [1] | -909 | [1] |
Available-for-sale securities at fair value | 247,238 | [1] | 317,927 | [1] |
Other Aggregated Investments [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Available-for-sale Securities, Amortized Cost Basis | 15,274 | 12,526 | ||
Available-for-sale Securities, Gross Unrealized Gains | 231 | 120 | ||
Available-for-sale Securities, Gross Unrealized Losses | -7 | -12 | ||
Available-for-sale securities at fair value | $15,498 | $12,634 | ||
[1] | All mortgage-backed securities are guaranteed by U.S. government agencies or government-sponsored entities. |
Investments_Maturities_of_AFS_
Investments Maturities of AFS Securities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | $64,191 | ' |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 320,013 | ' |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 84,421 | ' |
Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis | 236,343 | ' |
Investment securities available for sale at amortized cost | 704,968 | 690,556 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 64,570 | ' |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 320,262 | ' |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 83,968 | ' |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 234,144 | ' |
Available-for-sale Securities | $702,944 | $699,300 |
Investments_Realized_gains_and
Investments Realized gains and losses from sales of AFS Investments (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Gain (Loss) on Investments [Line Items] | ' | ' | ' | ' |
Proceeds from Sale of Available-for-sale Securities | $1,982 | $86 | $3,472 | $49,323 |
Available-for-sale Securities, Gross Realized Gains | 7 | 25 | 35 | 924 |
Available-for-sale Securities, Gross Realized Losses | $0 | $0 | $0 | $46 |
Investments_Available_for_Sale
Investments Available for Sale Securities in Unrealized Loss Position (Details) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
securities | |
Schedule of Available-for-sale Securities [Line Items] | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $348,217 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 29,936 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 378,153 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 5,830 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 951 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 6,781 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 106 |
US Government and Government Agencies and Authorities [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,122 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,122 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 29 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 29 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 1 |
US Government-sponsored Enterprises Debt Securities [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 133,454 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 133,454 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 941 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 941 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 11 |
Municipal Bonds [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 96,618 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 96,618 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 1,818 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 1,818 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 56 |
Mortgage Backed Securities, Other [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 118,115 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 28,778 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 146,893 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 3,066 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 920 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 3,986 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 32 |
Other Aggregated Investments [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 30 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 36 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 66 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | $7 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 6 |
Investments_Other_Investment_D
Investments Other Investment Disclosures (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Investments, Other Disclosures [Abstract] | ' | ' |
Cost Method Investments, Additional Information | '0 | '0.1 |
Cost Method Investments | $25.90 | $24.90 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements Fair Value Recurring Basis (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | $702,944 | $699,300 | ||
US Government and Government Agencies and Authorities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 2,299 | 2,753 | ||
US Government-sponsored Enterprises Debt Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 221,943 | 155,002 | ||
Municipal Bonds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 215,966 | 210,984 | ||
Mortgage Backed Securities, Other [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 247,238 | [1] | 317,927 | [1] |
Other Aggregated Investments [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 15,498 | 12,634 | ||
Fair Value, Measurements, Recurring [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 702,944 | 699,300 | ||
Alternative Investments, Fair Value Disclosure | 5,616 | 5,892 | ||
Fair Value, Measurements, Recurring [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 3,839 | 5,189 | ||
Fair Value, Measurements, Recurring [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 333 | ' | ||
Fair Value, Measurements, Recurring [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Assets | 1,742 | 2,915 | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 1,807 | 3,047 | ||
Fair Value, Measurements, Recurring [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | ' | 120 | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | ' | 120 | ||
Fair Value, Measurements, Recurring [Member] | US Government and Government Agencies and Authorities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 2,299 | 2,753 | ||
Fair Value, Measurements, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 221,943 | 155,002 | ||
Fair Value, Measurements, Recurring [Member] | Municipal Bonds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 215,966 | 210,984 | ||
Fair Value, Measurements, Recurring [Member] | Mortgage Backed Securities, Other [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 247,238 | 317,927 | ||
Fair Value, Measurements, Recurring [Member] | Other Aggregated Investments [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 15,498 | 12,634 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 15,498 | 12,634 | ||
Alternative Investments, Fair Value Disclosure | 5,038 | 5,206 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 0 | ' | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Assets | 0 | 0 | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | ' | 0 | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | ' | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Government and Government Agencies and Authorities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Municipal Bonds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage Backed Securities, Other [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other Aggregated Investments [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 15,498 | 12,634 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 687,446 | 686,666 | ||
Alternative Investments, Fair Value Disclosure | 578 | 686 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 3,839 | 5,189 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 333 | ' | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Assets | 1,742 | 2,915 | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 1,807 | 3,047 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | ' | 120 | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | ' | 120 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Government and Government Agencies and Authorities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 2,299 | 2,753 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 221,943 | 155,002 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Municipal Bonds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 215,966 | 210,984 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage Backed Securities, Other [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 247,238 | 317,927 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other Aggregated Investments [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0 | 0 | ||
Available-for-sale Securities | 0 | 0 | ||
Alternative Investments, Fair Value Disclosure | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 0 | ' | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Assets | 0 | 0 | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | ' | 0 | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | ' | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Government and Government Agencies and Authorities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Municipal Bonds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage Backed Securities, Other [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Aggregated Investments [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale Securities | $0 | $0 | ||
[1] | All mortgage-backed securities are guaranteed by U.S. government agencies or government-sponsored entities. |
Fair_Value_Measurements_Fair_V1
Fair Value Measurements Fair Value Nonrecurring Basis (Details) (Fair Value, Measurements, Nonrecurring [Member], USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ||||
Loans Receivable, Fair Value Disclosure | $9,464 | [1] | $20,230 | [2] | $9,464 | [1] | $20,230 | [2] |
Loans Receivable, Fair Value Adjustment | 0 | -4,598 | -1,845 | -5,186 | ||||
Other Real Estate Owned, Fair Value Disclosure | ' | 379 | [3] | ' | 379 | [3] | ||
Other Real Estate Owned, Fair Value Adjustment | ' | -102 | ' | -102 | ||||
Assets, Fair Value Disclosure | 9,464 | 20,609 | 9,464 | 20,609 | ||||
Assets, Fair Value Adjustment | 0 | -4,700 | -1,845 | -5,288 | ||||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ||||
Loans Receivable, Fair Value Disclosure | 0 | [1] | 0 | [2] | 0 | [1] | 0 | [2] |
Other Real Estate Owned, Fair Value Disclosure | ' | 0 | [3] | ' | 0 | [3] | ||
Assets, Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ||||
Loans Receivable, Fair Value Disclosure | 0 | [1] | 0 | [2] | 0 | [1] | 0 | [2] |
Other Real Estate Owned, Fair Value Disclosure | ' | 0 | [3] | ' | 0 | [3] | ||
Assets, Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ||||
Loans Receivable, Fair Value Disclosure | 9,464 | [1] | 20,230 | [2] | 9,464 | [1] | 20,230 | [2] |
Other Real Estate Owned, Fair Value Disclosure | ' | 379 | [3] | ' | 379 | [3] | ||
Assets, Fair Value Disclosure | $9,464 | $20,609 | $9,464 | $20,609 | ||||
[1] | Collateral-dependent impaired loans held at September 30, 2013 that had write-downs in fair value or whose specific reserve changed during the first nine months of 2013. | |||||||
[2] | Collateral-dependent impaired loans held at September 30, 2012 that had write-downs in fair value or whose specific reserve changed during the first nine months of 2012. | |||||||
[3] | One OREO property held at September 30, 2012 had a write-down during the first nine months of 2012. |
Fair_Value_Measurements_Quanti
Fair Value Measurements Quantitiative Information about Level 3 Non-Recurring Assets (Details) (Fair Value, Measurements, Nonrecurring [Member], USD $) | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' | ||
Loans Receivable, Fair Value Disclosure | 9,464 | [1] | 20,230 | [2] |
Other Real Estate Owned, Fair Value Disclosure | ' | 379 | [3] | |
Loans Receivable [Member] | Weighted Average [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' | ||
Fair Value Inputs, Discount Rate | 8.00% | 8.00% | ||
Fair Value Inputs, Comparability Adjustments | 24.00% | 11.00% | ||
Loans Receivable [Member] | Minimum [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' | ||
Fair Value Inputs, Discount Rate | 0.00% | 6.00% | ||
Fair Value Inputs, Comparability Adjustments | 0.00% | 0.00% | ||
Loans Receivable [Member] | Maximum [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' | ||
Fair Value Inputs, Discount Rate | 13.00% | 13.00% | ||
Fair Value Inputs, Comparability Adjustments | 45.00% | 30.00% | ||
Other Real Estate Owned [Member] | Weighted Average [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' | ||
Fair Value Inputs, Discount Rate | ' | 8.00% | ||
Fair Value Inputs, Comparability Adjustments | ' | 0.00% | ||
Other Real Estate Owned [Member] | Minimum [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' | ||
Fair Value Inputs, Discount Rate | ' | 8.00% | ||
Fair Value Inputs, Comparability Adjustments | ' | 0.00% | ||
Other Real Estate Owned [Member] | Maximum [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | ' | ' | ||
Fair Value Inputs, Discount Rate | ' | 8.00% | ||
Fair Value Inputs, Comparability Adjustments | ' | 0.00% | ||
[1] | Collateral-dependent impaired loans held at September 30, 2013 that had write-downs in fair value or whose specific reserve changed during the first nine months of 2013. | |||
[2] | Collateral-dependent impaired loans held at September 30, 2012 that had write-downs in fair value or whose specific reserve changed during the first nine months of 2012. | |||
[3] | One OREO property held at September 30, 2012 had a write-down during the first nine months of 2012. |
Fair_Value_Measurements_Not_Me
Fair Value Measurements Not Measured at Fair Value on a Recurring Basis (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||||||
In Thousands, unless otherwise specified | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Portion at Fair Value, Fair Value Disclosure [Member] | Portion at Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Portion at Fair Value, Fair Value Disclosure [Member] | Portion at Fair Value, Fair Value Disclosure [Member] | Portion at Fair Value, Fair Value Disclosure [Member] | Portion at Fair Value, Fair Value Disclosure [Member] | Portion at Fair Value, Fair Value Disclosure [Member] | Portion at Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cash and Cash Equivalents, Fair Value Disclosure | $323,941 | $308,744 | $323,941 | $308,744 | $323,941 | $308,744 | $0 | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Loans Receivable, Fair Value Disclosure | 4,845,045 | 4,730,079 | 4,822,432 | 4,766,574 | 0 | 0 | 0 | 0 | 4,822,432 | 4,766,574 | 9,464 | [1] | 20,230 | [2] | 0 | [1] | 0 | [2] | 0 | [1] | 0 | [2] | 9,464 | [1] | 20,230 | [2] |
Loans Held-for-sale, Fair Value Disclosure | 1,745 | 308,390 | 1,745 | 308,908 | 0 | 0 | 1,745 | 308,908 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Other Assets, Fair Value Disclosure | 116,194 | 118,087 | 116,194 | 118,087 | 0 | 0 | 116,194 | 118,087 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Deposits, Fair Value Disclosure | 4,942,765 | 4,885,059 | 4,945,589 | 4,891,465 | 0 | 0 | 4,945,589 | 4,891,465 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Deposits Held For Sale, Fair Value Disclosure | ' | 194,084 | ' | 182,592 | ' | 0 | ' | 182,592 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Securities Loaned or Sold under Agreements to Repurchase, Fair Value Disclosure | 92,499 | 116,319 | 92,490 | 117,885 | 0 | 0 | 92,490 | 117,885 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Federal Home Loan Bank Borrowings, Fair Value Disclosure | 391,466 | 408,121 | 402,158 | 428,037 | 0 | 0 | 402,158 | 428,037 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Subordinated Debt Obligations, Fair Value Disclosure | 110,487 | 143,647 | 100,487 | 117,502 | 0 | 0 | 7,394 | 12,804 | 93,093 | 104,698 | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Other Liabilities, Fair Value Disclosure | $9,708 | $10,058 | $9,708 | $10,058 | $0 | $0 | $9,708 | $10,058 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
[1] | Collateral-dependent impaired loans held at September 30, 2013 that had write-downs in fair value or whose specific reserve changed during the first nine months of 2013. | |||||||||||||||||||||||||
[2] | Collateral-dependent impaired loans held at September 30, 2012 that had write-downs in fair value or whose specific reserve changed during the first nine months of 2012. |
Loan_Portfolio_and_Credit_Qual2
Loan Portfolio and Credit Quality Loans by Portfolio Segment (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total loans | $4,922,222 | $4,814,136 |
Commercial and industrial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total loans | 788,425 | 806,326 |
Commercial real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total loans | 1,722,031 | 1,691,350 |
Construction and land [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total loans | 154,609 | 137,570 |
Residential [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total loans | 2,006,702 | 1,906,089 |
Home equity [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total loans | 118,094 | 123,551 |
Consumer and other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total loans | $132,361 | $149,250 |
Loan_Portfolio_and_Credit_Qual3
Loan Portfolio and Credit Quality Nonaccrual Loans by Class of Financing Receivable (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | $50,792 | $60,745 |
Commercial and industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,575 | 4,337 |
Commercial real estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 27,996 | 41,696 |
Construction and land [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,920 | 2,213 |
Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 13,140 | 11,744 |
Home equity [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 134 | 660 |
Consumer and other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | $27 | $95 |
Loan_Portfolio_and_Credit_Qual4
Loan Portfolio and Credit Quality Loans by Past Due Status (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | |
Financing Receivable Recorded Investment 30 to 59 Days Past Due Still Accruing | $3,872,000 | $34,939,000 | [1] |
Financing Receivable Recorded Investment 60 to 89 Days Past Due Still Accruing | 4,311,000 | 11,437,000 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 1,712,000 | 3,556,000 | |
Financing Receivable Recorded Investment Still Accruing | 9,895,000 | 49,932,000 | |
Financing Receivable Recorded Investment Nonaccrual Current Payment Status | 24,574,000 | 38,415,000 | |
Financing Receivable Recorded Investment Nonaccrual 30 to 89 Days Past Due | 269,000 | 11,030,000 | |
Financing Receivable Recorded Investment Nonaccrual Over 89 Days Past Due | 25,949,000 | 11,300,000 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 50,792,000 | 60,745,000 | |
Financing Receivable, Recorded Investment, Current | 4,861,535,000 | 4,703,459,000 | |
Total loans | 4,922,222,000 | 4,814,136,000 | |
Commercial and industrial [Member] | ' | ' | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | |
Financing Receivable Recorded Investment 30 to 59 Days Past Due Still Accruing | 1,128,000 | 10,684,000 | [1] |
Financing Receivable Recorded Investment 60 to 89 Days Past Due Still Accruing | 13,000 | 210,000 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 257,000 | |
Financing Receivable Recorded Investment Still Accruing | 1,141,000 | 11,151,000 | |
Financing Receivable Recorded Investment Nonaccrual Current Payment Status | 1,351,000 | 3,073,000 | |
Financing Receivable Recorded Investment Nonaccrual 30 to 89 Days Past Due | 0 | 0 | |
Financing Receivable Recorded Investment Nonaccrual Over 89 Days Past Due | 3,224,000 | 1,264,000 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,575,000 | 4,337,000 | |
Financing Receivable, Recorded Investment, Current | 782,709,000 | 790,838,000 | |
Total loans | 788,425,000 | 806,326,000 | |
Number of Loans Held for Sale 30-59 Days Past Due | ' | 1 | |
Loans Held For Sale 30 to 59 Days Past Due Still Accruing | ' | 300,000 | |
Commercial real estate [Member] | ' | ' | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | |
Financing Receivable Recorded Investment 30 to 59 Days Past Due Still Accruing | 1,018,000 | 3,331,000 | |
Financing Receivable Recorded Investment 60 to 89 Days Past Due Still Accruing | 525,000 | 4,572,000 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 1,647,000 | 3,249,000 | |
Financing Receivable Recorded Investment Still Accruing | 3,190,000 | 11,152,000 | |
Financing Receivable Recorded Investment Nonaccrual Current Payment Status | 13,548,000 | 29,125,000 | |
Financing Receivable Recorded Investment Nonaccrual 30 to 89 Days Past Due | 0 | 8,913,000 | |
Financing Receivable Recorded Investment Nonaccrual Over 89 Days Past Due | 14,448,000 | 3,658,000 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 27,996,000 | 41,696,000 | |
Financing Receivable, Recorded Investment, Current | 1,690,845,000 | 1,638,502,000 | |
Total loans | 1,722,031,000 | 1,691,350,000 | |
Construction and land [Member] | ' | ' | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | |
Financing Receivable Recorded Investment 30 to 59 Days Past Due Still Accruing | 679,000 | 42,000 | |
Financing Receivable Recorded Investment 60 to 89 Days Past Due Still Accruing | 13,000 | 3,216,000 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 65,000 | 50,000 | |
Financing Receivable Recorded Investment Still Accruing | 757,000 | 3,308,000 | |
Financing Receivable Recorded Investment Nonaccrual Current Payment Status | 3,988,000 | 723,000 | |
Financing Receivable Recorded Investment Nonaccrual 30 to 89 Days Past Due | 49,000 | 137,000 | |
Financing Receivable Recorded Investment Nonaccrual Over 89 Days Past Due | 883,000 | 1,353,000 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,920,000 | 2,213,000 | |
Financing Receivable, Recorded Investment, Current | 148,932,000 | 132,049,000 | |
Total loans | 154,609,000 | 137,570,000 | |
Residential [Member] | ' | ' | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | |
Financing Receivable Recorded Investment 30 to 59 Days Past Due Still Accruing | 0 | 20,194,000 | |
Financing Receivable Recorded Investment 60 to 89 Days Past Due Still Accruing | 3,758,000 | 3,218,000 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | |
Financing Receivable Recorded Investment Still Accruing | 3,758,000 | 23,412,000 | |
Financing Receivable Recorded Investment Nonaccrual Current Payment Status | 5,648,000 | 5,101,000 | |
Financing Receivable Recorded Investment Nonaccrual 30 to 89 Days Past Due | 216,000 | 1,980,000 | |
Financing Receivable Recorded Investment Nonaccrual Over 89 Days Past Due | 7,276,000 | 4,663,000 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 13,140,000 | 11,744,000 | |
Financing Receivable, Recorded Investment, Current | 1,989,804,000 | 1,870,933,000 | |
Total loans | 2,006,702,000 | 1,906,089,000 | |
Home equity [Member] | ' | ' | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | |
Financing Receivable Recorded Investment 30 to 59 Days Past Due Still Accruing | 1,020,000 | 119,000 | |
Financing Receivable Recorded Investment 60 to 89 Days Past Due Still Accruing | 0 | 39,000 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | |
Financing Receivable Recorded Investment Still Accruing | 1,020,000 | 158,000 | |
Financing Receivable Recorded Investment Nonaccrual Current Payment Status | 39,000 | 300,000 | |
Financing Receivable Recorded Investment Nonaccrual 30 to 89 Days Past Due | 0 | 0 | |
Financing Receivable Recorded Investment Nonaccrual Over 89 Days Past Due | 95,000 | 360,000 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 134,000 | 660,000 | |
Financing Receivable, Recorded Investment, Current | 116,940,000 | 122,733,000 | |
Total loans | 118,094,000 | 123,551,000 | |
Consumer and other [Member] | ' | ' | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | |
Financing Receivable Recorded Investment 30 to 59 Days Past Due Still Accruing | 27,000 | 569,000 | |
Financing Receivable Recorded Investment 60 to 89 Days Past Due Still Accruing | 2,000 | 182,000 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | |
Financing Receivable Recorded Investment Still Accruing | 29,000 | 751,000 | |
Financing Receivable Recorded Investment Nonaccrual Current Payment Status | 0 | 93,000 | |
Financing Receivable Recorded Investment Nonaccrual 30 to 89 Days Past Due | 4,000 | 0 | |
Financing Receivable Recorded Investment Nonaccrual Over 89 Days Past Due | 23,000 | 2,000 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 27,000 | 95,000 | |
Financing Receivable, Recorded Investment, Current | 132,305,000 | 148,404,000 | |
Total loans | $132,361,000 | $149,250,000 | |
[1] | Does not include one commercial and industrial 30-59 day delinquent loan totaling $0.3 million in loans held for sale as of December 31, 2012. |
Loan_Portfolio_and_Credit_Qual5
Loan Portfolio and Credit Quality Loans by Grade or Nonaccrual Status (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | $4,922,222 | $4,814,136 | |
Loans held for sale | 1,745 | 308,390 | |
Pass [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 4,752,912 | 4,578,523 | |
Special Mention [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 74,209 | 84,739 | [1] |
Accruing Substandard [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 44,309 | 90,129 | |
Nonperforming Financing Receivable [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 50,792 | 60,745 | |
Commercial and industrial [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 788,425 | 806,326 | |
Commercial and industrial [Member] | Pass [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 766,285 | 779,236 | |
Commercial and industrial [Member] | Special Mention [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 11,075 | 13,691 | [1] |
Number of Loans Held for Sale | ' | 5 | |
Loans held for sale | ' | 900 | |
Commercial and industrial [Member] | Accruing Substandard [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 6,490 | 9,062 | |
Commercial and industrial [Member] | Nonperforming Financing Receivable [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 4,575 | 4,337 | |
Commercial real estate [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 1,722,031 | 1,691,350 | |
Commercial real estate [Member] | Pass [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 1,629,671 | 1,531,701 | |
Commercial real estate [Member] | Special Mention [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 41,988 | 54,000 | [1] |
Number of Loans Held for Sale | ' | 3 | |
Loans held for sale | ' | 3,000 | |
Commercial real estate [Member] | Accruing Substandard [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 22,376 | 63,953 | |
Commercial real estate [Member] | Nonperforming Financing Receivable [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 27,996 | 41,696 | |
Construction and land [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 154,609 | 137,570 | |
Construction and land [Member] | Pass [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 128,828 | 110,940 | |
Construction and land [Member] | Special Mention [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 20,209 | 17,048 | |
Construction and land [Member] | Accruing Substandard [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 652 | 7,369 | |
Construction and land [Member] | Nonperforming Financing Receivable [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 4,920 | 2,213 | |
Residential [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 2,006,702 | 1,906,089 | |
Residential [Member] | Pass [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 1,980,499 | 1,886,273 | |
Residential [Member] | Special Mention [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 0 | 0 | |
Residential [Member] | Accruing Substandard [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 13,063 | 8,072 | |
Residential [Member] | Nonperforming Financing Receivable [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 13,140 | 11,744 | |
Home equity [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 118,094 | 123,551 | |
Home equity [Member] | Pass [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 116,239 | 121,218 | |
Home equity [Member] | Special Mention [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 0 | 0 | |
Home equity [Member] | Accruing Substandard [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 1,721 | 1,673 | |
Home equity [Member] | Nonperforming Financing Receivable [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 134 | 660 | |
Consumer and other [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 132,361 | 149,250 | |
Consumer and other [Member] | Pass [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 131,390 | 149,155 | |
Consumer and other [Member] | Special Mention [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 937 | 0 | |
Consumer and other [Member] | Accruing Substandard [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | 7 | 0 | |
Consumer and other [Member] | Nonperforming Financing Receivable [Member] | ' | ' | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | |
Total loans | $27 | $95 | |
[1] | Does not include five commercial and industrial special mention loans totaling $0.9 million and three commercial real estate special mention loans totaling $3.0 million in loans held for sale as of December 31, 2012. |
Loan_Portfolio_and_Credit_Qual6
Loan Portfolio and Credit Quality Impaired Loans With and Without Related Allowance (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | $37,869 | [1] | $54,607 | [1] | $37,869 | [1] | $54,607 | [1] | $47,414 | [1] |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 33,492 | [1] | 40,017 | [1] | 33,492 | [1] | 40,017 | [1] | 34,110 | [1] |
Impaired Financing Receivable, Recorded Investment | 71,361 | [1] | 94,624 | [1] | 71,361 | [1] | 94,624 | [1] | 81,524 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 53,107 | 81,733 | 53,107 | 81,733 | 74,559 | |||||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 35,090 | 41,446 | 35,090 | 41,446 | 35,756 | |||||
Impaired Financing Receivable, Unpaid Principal Balance | 88,197 | 123,179 | 88,197 | 123,179 | 110,315 | |||||
Impaired Financing Receivable, Related Allowance | 4,301 | 4,266 | 4,301 | 4,266 | 3,377 | |||||
Impaired Financing Receivable, Related Allowance | 4,301 | 4,266 | 4,301 | 4,266 | 3,377 | |||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 37,808 | 47,970 | 45,305 | 51,410 | 51,255 | |||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 37,482 | 42,396 | 38,234 | 40,570 | 39,746 | |||||
Impaired Financing Receivable, Average Recorded Investment | 75,290 | 90,366 | 83,539 | 91,980 | 91,001 | |||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 338 | 111 | 1,326 | 569 | 695 | |||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 190 | 320 | 1,089 | 843 | 1,107 | |||||
Impaired Financing Receivable, Interest Income, Cash Basis Method | 528 | 431 | 2,415 | 1,412 | 1,802 | |||||
Commercial and industrial [Member] | ' | ' | ' | ' | ' | |||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 2,068 | [1] | 5,064 | [1] | 2,068 | [1] | 5,064 | [1] | 3,274 | [1] |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,558 | [1] | 1,285 | [1] | 2,558 | [1] | 1,285 | [1] | 1,149 | [1] |
Impaired Financing Receivable, Recorded Investment | 4,626 | [1] | 6,349 | [1] | 4,626 | [1] | 6,349 | [1] | 4,423 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 3,299 | 8,361 | 3,299 | 8,361 | 4,499 | |||||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 2,644 | 1,285 | 2,644 | 1,285 | 1,191 | |||||
Impaired Financing Receivable, Unpaid Principal Balance | 5,943 | 9,646 | 5,943 | 9,646 | 5,690 | |||||
Impaired Financing Receivable, Related Allowance | 253 | 123 | 253 | 123 | 118 | |||||
Impaired Financing Receivable, Related Allowance | 253 | 123 | 253 | 123 | 118 | |||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 2,558 | 3,686 | 4,521 | 4,826 | 4,707 | |||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 2,496 | 2,731 | 2,385 | 1,983 | 1,855 | |||||
Impaired Financing Receivable, Average Recorded Investment | 5,054 | 6,417 | 6,906 | 6,809 | 6,562 | |||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 62 | 0 | 332 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 1 | 0 | 23 | 0 | 1 | |||||
Impaired Financing Receivable, Interest Income, Cash Basis Method | 63 | 0 | 355 | 0 | 1 | |||||
Commercial real estate [Member] | ' | ' | ' | ' | ' | |||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 30,965 | [1] | 34,789 | [1] | 30,965 | [1] | 34,789 | [1] | 40,133 | [1] |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 13,905 | [1] | 25,516 | [1] | 13,905 | [1] | 25,516 | [1] | 18,519 | [1] |
Impaired Financing Receivable, Recorded Investment | 44,870 | [1] | 60,305 | [1] | 44,870 | [1] | 60,305 | [1] | 58,652 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 42,572 | 55,034 | 42,572 | 55,034 | 64,424 | |||||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 15,197 | 26,901 | 15,197 | 26,901 | 19,814 | |||||
Impaired Financing Receivable, Unpaid Principal Balance | 57,769 | 81,935 | 57,769 | 81,935 | 84,238 | |||||
Impaired Financing Receivable, Related Allowance | 1,508 | 2,507 | 1,508 | 2,507 | 1,667 | |||||
Impaired Financing Receivable, Related Allowance | 1,508 | 2,507 | 1,508 | 2,507 | 1,667 | |||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 30,847 | 28,714 | 34,896 | 30,315 | 31,736 | |||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 17,630 | 24,462 | 19,909 | 25,190 | 24,510 | |||||
Impaired Financing Receivable, Average Recorded Investment | 48,477 | 53,176 | 54,805 | 55,505 | 56,246 | |||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 247 | 39 | 781 | 226 | 283 | |||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 89 | 200 | 677 | 562 | 727 | |||||
Impaired Financing Receivable, Interest Income, Cash Basis Method | 336 | 239 | 1,458 | 788 | 1,010 | |||||
Construction and land [Member] | ' | ' | ' | ' | ' | |||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,078 | [1] | 4,630 | [1] | 1,078 | [1] | 4,630 | [1] | 1,310 | [1] |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 4,185 | [1] | 1,018 | [1] | 4,185 | [1] | 1,018 | [1] | 903 | [1] |
Impaired Financing Receivable, Recorded Investment | 5,263 | [1] | 5,648 | [1] | 5,263 | [1] | 5,648 | [1] | 2,213 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,800 | 6,783 | 1,800 | 6,783 | 2,682 | |||||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 4,405 | 1,062 | 4,405 | 1,062 | 953 | |||||
Impaired Financing Receivable, Unpaid Principal Balance | 6,205 | 7,845 | 6,205 | 7,845 | 3,635 | |||||
Impaired Financing Receivable, Related Allowance | 794 | 425 | 794 | 425 | 189 | |||||
Impaired Financing Receivable, Related Allowance | 794 | 425 | 794 | 425 | 189 | |||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,083 | 5,655 | 1,605 | 6,115 | 5,532 | |||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 4,185 | 2,187 | 3,260 | 1,662 | 1,486 | |||||
Impaired Financing Receivable, Average Recorded Investment | 5,268 | 7,842 | 4,865 | 7,777 | 7,018 | |||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 6 | 0 | 103 | 97 | 97 | |||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 0 | 0 | 0 | 0 | 0 | |||||
Impaired Financing Receivable, Interest Income, Cash Basis Method | 6 | 0 | 103 | 97 | 97 | |||||
Residential [Member] | ' | ' | ' | ' | ' | |||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 3,662 | [1] | 9,764 | [1] | 3,662 | [1] | 9,764 | [1] | 2,337 | [1] |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 12,844 | [1] | 12,067 | [1] | 12,844 | [1] | 12,067 | [1] | 13,539 | [1] |
Impaired Financing Receivable, Recorded Investment | 16,506 | [1] | 21,831 | [1] | 16,506 | [1] | 21,831 | [1] | 15,876 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 5,340 | 11,195 | 5,340 | 11,195 | 2,594 | |||||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 12,844 | 12,067 | 12,844 | 12,067 | 13,798 | |||||
Impaired Financing Receivable, Unpaid Principal Balance | 18,184 | 23,262 | 18,184 | 23,262 | 16,392 | |||||
Impaired Financing Receivable, Related Allowance | 1,746 | 1,080 | 1,746 | 1,080 | 1,403 | |||||
Impaired Financing Receivable, Related Allowance | 1,746 | 1,080 | 1,746 | 1,080 | 1,403 | |||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 3,229 | 9,482 | 4,141 | 9,747 | 8,885 | |||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 13,171 | 12,885 | 12,680 | 11,604 | 11,781 | |||||
Impaired Financing Receivable, Average Recorded Investment | 16,400 | 22,367 | 16,821 | 21,351 | 20,666 | |||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 20 | 71 | 106 | 243 | 312 | |||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 100 | 119 | 389 | 277 | 374 | |||||
Impaired Financing Receivable, Interest Income, Cash Basis Method | 120 | 190 | 495 | 520 | 686 | |||||
Home equity [Member] | ' | ' | ' | ' | ' | |||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 89 | [1] | 360 | [1] | 89 | [1] | 360 | [1] | 360 | [1] |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | [1] | 131 | [1] | 0 | [1] | 131 | [1] | 0 | [1] |
Impaired Financing Receivable, Recorded Investment | 89 | [1] | 491 | [1] | 89 | [1] | 491 | [1] | 360 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 89 | 360 | 89 | 360 | 360 | |||||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 131 | 0 | 131 | 0 | |||||
Impaired Financing Receivable, Unpaid Principal Balance | 89 | 491 | 89 | 491 | 360 | |||||
Impaired Financing Receivable, Related Allowance | 0 | 131 | 0 | 131 | 0 | |||||
Impaired Financing Receivable, Related Allowance | 0 | 131 | 0 | 131 | 0 | |||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 89 | 360 | 141 | 354 | 355 | |||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 131 | 0 | 131 | 114 | |||||
Impaired Financing Receivable, Average Recorded Investment | 89 | 491 | 141 | 485 | 469 | |||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 3 | 1 | 4 | 3 | 3 | |||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 0 | 1 | 0 | 4 | 5 | |||||
Impaired Financing Receivable, Interest Income, Cash Basis Method | 3 | 2 | 4 | 7 | 8 | |||||
Consumer and other [Member] | ' | ' | ' | ' | ' | |||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 7 | [1] | 0 | [1] | 7 | [1] | 0 | [1] | 0 | [1] |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Impaired Financing Receivable, Recorded Investment | 7 | [1] | 0 | [1] | 7 | [1] | 0 | [1] | 0 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 7 | 0 | 7 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 0 | 0 | 0 | 0 | |||||
Impaired Financing Receivable, Unpaid Principal Balance | 7 | 0 | 7 | 0 | 0 | |||||
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | 0 | 0 | |||||
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | 0 | 0 | |||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 2 | 73 | 1 | 53 | 40 | |||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 0 | 0 | 0 | 0 | |||||
Impaired Financing Receivable, Average Recorded Investment | 2 | 73 | 1 | 53 | 40 | |||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 0 | 0 | 0 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 0 | 0 | 0 | 0 | 0 | |||||
Impaired Financing Receivable, Interest Income, Cash Basis Method | $0 | $0 | $0 | $0 | $0 | |||||
[1] | Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, which was applied to principal. |
Loan_Portfolio_and_Credit_Qual7
Loan Portfolio and Credit Quality TDR Loans Restructured or Defaulted in Period (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Loans | Loans | Loans | Loans | |||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | 4 | 3 | 25 | 20 | ||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $2,425 | $4,957 | $17,308 | $16,366 | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 2,425 | 4,957 | 17,308 | 16,447 | ||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 3 | 3 | 7 | 3 | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2,500 | 1,282 | 7,171 | 1,282 | ||||
Commercial and industrial [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | 0 | 2 | [1] | 3 | [2] | 2 | [1] | |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 0 | 1,807 | [1] | 1,369 | [2] | 1,807 | [1] | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 1,807 | [1] | 1,369 | [2] | 1,807 | [1] | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 0 | 1 | 0 | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 983 | 0 | 983 | 0 | ||||
Commercial and industrial [Member] | Temporary Rate Reduction [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | ' | ' | 1 | ' | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 200 | ' | ||||
Commercial and industrial [Member] | Combination of Concessions [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | ' | ' | 1 | ' | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 200 | ' | ||||
Commercial and industrial [Member] | Extension of Term [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | ' | 2 | 1 | 2 | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | 1,800 | 1,000 | 1,800 | ||||
Commercial real estate [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | 2 | [3] | 0 | 7 | [4] | 6 | [5] | |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 2,198 | [3] | 0 | 11,361 | [4] | 7,387 | [5] | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 2,198 | [3] | 0 | 11,361 | [4] | 7,468 | [5] | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 2 | 0 | 5 | 0 | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 1,517 | 0 | 5,072 | 0 | ||||
Commercial real estate [Member] | Combination of Concessions [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | 2 | ' | 3 | 1 | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 2,200 | ' | 2,400 | 2,800 | ||||
Commercial real estate [Member] | Extension of Term [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | ' | ' | 4 | 5 | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 9,000 | 4,700 | ||||
Construction and land [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 4 | [1] | 0 | |||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 0 | 0 | 3,604 | [1] | 0 | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 3,604 | [1] | 0 | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | 0 | 0 | ||||
Construction and land [Member] | Extension of Term [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | ' | ' | 4 | ' | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 3,600 | ' | ||||
Residential [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | 2 | [6] | 1 | [6] | 10 | [6] | 12 | [7] |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 227 | [6] | 3,150 | [6] | 934 | [6] | 7,172 | [7] |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 227 | [6] | 3,150 | [6] | 934 | [6] | 7,172 | [7] |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 3 | 1 | 3 | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 1,282 | 1,116 | 1,282 | ||||
Residential [Member] | Payment Deferral [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | ' | ' | ' | 1 | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | ' | 1,900 | ||||
Residential [Member] | Temporary Rate Reduction [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | 2 | 1 | 10 | 10 | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 200 | 3,200 | 900 | 4,000 | ||||
Residential [Member] | Combination of Concessions [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | ' | ' | ' | 1 | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | ' | 1,300 | ||||
Residential [Member] | Extension of Term [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | ' | ' | ||||
Home equity [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 1 | [1] | 0 | |||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 0 | 0 | 40 | [1] | 0 | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 40 | [1] | 0 | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 0 | 0 | 0 | ||||
Home equity [Member] | Extension of Term [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | ' | ' | 1 | ' | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 0 | ' | ||||
Consumer and other [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 0 | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $0 | $0 | $0 | $0 | ||||
[1] | Represents the following concessions: extension of term. | |||||||
[2] | Represents the following concessions: extension of term (1 loan; post-modification recorded investment of $1.0 million), temporary reduction of interest rate (1 loan; post-modification recorded investment of $0.2 million), and combination of concessions (1 loan; post-modification recorded investment of $0.2 million). | |||||||
[3] | Represents the following concessions: combination of concessions. | |||||||
[4] | Represents the following concessions: extension of term (4 loans; post-modification recorded investment of $9.0 million) and combination of concessions (3 loans; post-modification recorded investment of $2.4 million). | |||||||
[5] | Represents the following concessions: extension of term (5 loans; post-modification recorded investment of $4.7 million) and combination of concessions (1 loan; post-modification recorded investment of $2.8 million). | |||||||
[6] | Represents the following concessions: temporary reduction of interest rate. | |||||||
[7] | Represents the following concessions: payment deferral (1 loan; post-modification recorded investment of $1.9 million), temporary reduction of interest rate (10 loans; post-modification recorded investment of $4.0 million), and combination of concessions (1 loan; post-modification recorded investment of $1.3 million). |
Loan_Portfolio_and_Credit_Qual8
Loan Portfolio and Credit Quality Loan footnote text disclosures (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Deferred Income | ($4,200,000) | ($4,200,000) |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 1,712,000 | 3,556,000 |
Loans Held-for-sale, Other | 1,745,000 | 308,390,000 |
Financing Receivable, Modifications, Recorded Investment | 59,500,000 | 54,500,000 |
Minimum [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Time to obtain new appraisal on impaired loans | 12 | ' |
Maximum [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Time to obtain new appraisal on impaired loans | 18 | ' |
Accruing Troubled Debt Restructured Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Modifications, Recorded Investment | $28,000,000 | $26,700,000 |
Allowance_for_Loan_Losses_Allo
Allowance for Loan Losses Allowance Rollforward (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance at Beginning of Period | $80,800 | $99,054 | $84,057 | $96,114 |
Provision/ (credit) for loan losses | -6,000 | -4,000 | -8,000 | 1,700 |
Financing Receivable, Allowance for Credit Losses, Charge-offs | 50 | 5,849 | 4,286 | 13,158 |
Financing Receivable, Allowance for Credit Losses, Recoveries | 2,427 | 1,924 | 5,406 | 6,473 |
Loans and Leases Receivable, Allowance at End of Period | 77,177 | 91,129 | 77,177 | 91,129 |
Commercial and industrial [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance at Beginning of Period | 11,883 | 13,243 | 11,825 | 12,163 |
Provision/ (credit) for loan losses | -533 | -1,339 | -1,441 | 1,766 |
Financing Receivable, Allowance for Credit Losses, Charge-offs | 41 | 1,108 | 68 | 3,777 |
Financing Receivable, Allowance for Credit Losses, Recoveries | 91 | 794 | 1,084 | 1,438 |
Loans and Leases Receivable, Allowance at End of Period | 11,400 | 11,590 | 11,400 | 11,590 |
Commercial real estate [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance at Beginning of Period | 48,744 | 64,577 | 52,497 | 63,625 |
Provision/ (credit) for loan losses | -5,719 | -3,035 | -8,266 | -2,147 |
Financing Receivable, Allowance for Credit Losses, Charge-offs | 0 | 2,339 | 2,339 | 5,606 |
Financing Receivable, Allowance for Credit Losses, Recoveries | 1,958 | 59 | 3,091 | 3,390 |
Loans and Leases Receivable, Allowance at End of Period | 44,983 | 59,262 | 44,983 | 59,262 |
Construction and land [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance at Beginning of Period | 4,923 | 6,163 | 5,016 | 6,382 |
Provision/ (credit) for loan losses | -427 | -1,448 | -1,250 | -2,177 |
Financing Receivable, Allowance for Credit Losses, Charge-offs | 0 | 710 | 100 | 710 |
Financing Receivable, Allowance for Credit Losses, Recoveries | 378 | 1,065 | 1,208 | 1,575 |
Loans and Leases Receivable, Allowance at End of Period | 4,874 | 5,070 | 4,874 | 5,070 |
Residential [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance at Beginning of Period | 11,625 | 10,844 | 10,892 | 9,286 |
Provision/ (credit) for loan losses | 549 | 1,659 | 2,687 | 4,498 |
Financing Receivable, Allowance for Credit Losses, Charge-offs | 0 | 1,544 | 1,405 | 2,825 |
Financing Receivable, Allowance for Credit Losses, Recoveries | 0 | 0 | 0 | 0 |
Loans and Leases Receivable, Allowance at End of Period | 12,174 | 10,959 | 12,174 | 10,959 |
Home equity [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance at Beginning of Period | 1,201 | 1,489 | 1,085 | 1,535 |
Provision/ (credit) for loan losses | -9 | 69 | 444 | -38 |
Financing Receivable, Allowance for Credit Losses, Charge-offs | 0 | 129 | 360 | 129 |
Financing Receivable, Allowance for Credit Losses, Recoveries | 0 | 0 | 23 | 61 |
Loans and Leases Receivable, Allowance at End of Period | 1,192 | 1,429 | 1,192 | 1,429 |
Consumer and other [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance at Beginning of Period | 412 | 740 | 540 | 1,149 |
Provision/ (credit) for loan losses | 18 | -38 | -105 | -358 |
Financing Receivable, Allowance for Credit Losses, Charge-offs | 9 | 19 | 14 | 111 |
Financing Receivable, Allowance for Credit Losses, Recoveries | 0 | 6 | 0 | 9 |
Loans and Leases Receivable, Allowance at End of Period | 421 | 689 | 421 | 689 |
Unallocated Financing Receivables [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance at Beginning of Period | 2,012 | 1,998 | 2,202 | 1,974 |
Provision/ (credit) for loan losses | 121 | 132 | -69 | 156 |
Loans and Leases Receivable, Allowance at End of Period | $2,133 | $2,130 | $2,133 | $2,130 |
Allowance_for_Loan_Losses_Allo1
Allowance for Loan Losses Allowance by impairment analysis method (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | $72,876 | ' | $80,680 | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 4,301 | ' | 3,377 | ' | ' | ' |
Loans and Leases Receivable, Allowance | 77,177 | 80,800 | 84,057 | 91,129 | 99,054 | 96,114 |
Financing Receivable, Collectively Evaluated for Impairment | 4,850,861 | ' | 4,732,612 | ' | ' | ' |
Financing Receivable, Individually Evaluated for Impairment | 71,361 | ' | 81,524 | ' | ' | ' |
Total loans | 4,922,222 | ' | 4,814,136 | ' | ' | ' |
Commercial and industrial [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 11,147 | ' | 11,707 | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 253 | ' | 118 | ' | ' | ' |
Loans and Leases Receivable, Allowance | 11,400 | 11,883 | 11,825 | 11,590 | 13,243 | 12,163 |
Financing Receivable, Collectively Evaluated for Impairment | 783,799 | ' | 801,903 | ' | ' | ' |
Financing Receivable, Individually Evaluated for Impairment | 4,626 | ' | 4,423 | ' | ' | ' |
Total loans | 788,425 | ' | 806,326 | ' | ' | ' |
Commercial real estate [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 43,475 | ' | 50,830 | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,508 | ' | 1,667 | ' | ' | ' |
Loans and Leases Receivable, Allowance | 44,983 | 48,744 | 52,497 | 59,262 | 64,577 | 63,625 |
Financing Receivable, Collectively Evaluated for Impairment | 1,677,161 | ' | 1,632,698 | ' | ' | ' |
Financing Receivable, Individually Evaluated for Impairment | 44,870 | ' | 58,652 | ' | ' | ' |
Total loans | 1,722,031 | ' | 1,691,350 | ' | ' | ' |
Construction and land [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 4,080 | ' | 4,827 | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 794 | ' | 189 | ' | ' | ' |
Loans and Leases Receivable, Allowance | 4,874 | 4,923 | 5,016 | 5,070 | 6,163 | 6,382 |
Financing Receivable, Collectively Evaluated for Impairment | 149,346 | ' | 135,357 | ' | ' | ' |
Financing Receivable, Individually Evaluated for Impairment | 5,263 | ' | 2,213 | ' | ' | ' |
Total loans | 154,609 | ' | 137,570 | ' | ' | ' |
Residential [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 10,428 | ' | 9,489 | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,746 | ' | 1,403 | ' | ' | ' |
Loans and Leases Receivable, Allowance | 12,174 | 11,625 | 10,892 | 10,959 | 10,844 | 9,286 |
Financing Receivable, Collectively Evaluated for Impairment | 1,990,196 | ' | 1,890,213 | ' | ' | ' |
Financing Receivable, Individually Evaluated for Impairment | 16,506 | ' | 15,876 | ' | ' | ' |
Total loans | 2,006,702 | ' | 1,906,089 | ' | ' | ' |
Home equity [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,192 | ' | 1,085 | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | ' | 0 | ' | ' | ' |
Loans and Leases Receivable, Allowance | 1,192 | 1,201 | 1,085 | 1,429 | 1,489 | 1,535 |
Financing Receivable, Collectively Evaluated for Impairment | 118,005 | ' | 123,191 | ' | ' | ' |
Financing Receivable, Individually Evaluated for Impairment | 89 | ' | 360 | ' | ' | ' |
Total loans | 118,094 | ' | 123,551 | ' | ' | ' |
Consumer and other [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 421 | ' | 540 | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | ' | 0 | ' | ' | ' |
Loans and Leases Receivable, Allowance | 421 | 412 | 540 | 689 | 740 | 1,149 |
Financing Receivable, Collectively Evaluated for Impairment | 132,354 | ' | 149,250 | ' | ' | ' |
Financing Receivable, Individually Evaluated for Impairment | 7 | ' | 0 | ' | ' | ' |
Total loans | 132,361 | ' | 149,250 | ' | ' | ' |
Unallocated Financing Receivables [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 2,133 | ' | 2,202 | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | ' | 0 | ' | ' | ' |
Loans and Leases Receivable, Allowance | 2,133 | 2,012 | 2,202 | 2,130 | 1,998 | 1,974 |
Financing Receivable, Collectively Evaluated for Impairment | 0 | ' | 0 | ' | ' | ' |
Financing Receivable, Individually Evaluated for Impairment | 0 | ' | 0 | ' | ' | ' |
Total loans | $0 | ' | $0 | ' | ' | ' |
Derivatives_and_Hedging_Activi2
Derivatives and Hedging Activities Derivatives Fair Value and Balance Sheet Classification (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Other Assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | $1,742 | [1] | $3,035 | [1] |
Other Assets [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 0 | [1] | 0 | [1] |
Other Assets [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 1,742 | [1] | 2,915 | [1] |
Other Assets [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 0 | [1] | 120 | [1] |
Other Liabilities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | -5,979 | [1] | -8,356 | [1] |
Other Liabilities [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | -4,172 | [1] | -5,189 | [1] |
Other Liabilities [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | -1,807 | [1] | -3,047 | [1] |
Other Liabilities [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | $0 | [1] | ($120) | [1] |
[1] | For additional details, see Part I. Item 1. “Notes to Unaudited Consolidated Financial Statements-Note 5: Fair Value Measurements.†|
Derivatives_and_Hedging_Activi3
Derivatives and Hedging Activities Effect of Derivative Instruments on Statement of Operations (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | ($1,643) | ($641) | ($469) | ($1,652) |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | -553 | -443 | -1,486 | -1,295 |
Interest Rate Contract [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | -1,643 | -641 | -469 | -1,652 |
Interest Income [Member] | Interest Rate Contract [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | ($553) | ($443) | ($1,486) | ($1,295) |
Derivatives_and_Hedging_Activi4
Derivatives and Hedging Activities Accumulated Other Comprehensive Income Related to Derivatives (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income on cash flow hedges, balance at beginning of year | ($1,745) | ($3,128) | ($2,969) | ($3,106) |
Net change in unrealized gain/ (loss) on cash flow hedges | -648 | -113 | 576 | -135 |
Accumulated other comprehensive income on cash flow hedges, balance at end of period | ($2,393) | ($3,241) | ($2,393) | ($3,241) |
Derivatives_and_Hedging_Activi5
Derivatives and Hedging Activities Derivatives not designated as hedges, effect on statement of operations (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Description of Location of Gain (Loss) on Interest Rate Derivative on Income Statement | ' | ' | 'Other income/ (expense) | ' |
Description of Location of Gain (Loss) on Foreign Currency Derivative in Financial Statements | ' | ' | 'Other income/ (expense) | ' |
Not Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | ($2) | ($17) | $22 | $67 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | -5 | -21 | 14 | 62 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $3 | $4 | $8 | $5 |
Derivatives_and_Hedging_Activi6
Derivatives and Hedging Activities Cash Flow Hedges Text Description (Details) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Trust II $75m Cash Flow Hedge [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | Private Banking Segment [Member] | |||||
Interest Rate Swap [Member] | Interest Rate Swap [Member] | contracts | Designated as Hedging Instrument [Member] | Bank $25m LIBOR Swap effective 8/1/13 [Member] | Bank $25m LIBOR Swap effective 8/1/13 [Member] | Bank $25m LIBOR Swap effective 8/1/13 [Member] | Bank $25m LIBOR Swap effective 8/1/13 [Member] | Bank $25m LIBOR Swap effective 3/1/14 [Member] | Bank $25m LIBOR Swap effective 3/1/14 [Member] | Bank $25m LIBOR Swap effective 3/1/14 [Member] | Bank $25m LIBOR Swap effective 3/1/14 [Member] | Bank $25m LIBOR Swap effective 6/1/14 [Member] | Bank $25m LIBOR Swap effective 6/1/14 [Member] | Bank $25m LIBOR Swap effective 6/1/14 [Member] | Bank $25m LIBOR Swap effective 6/1/14 [Member] | Bank $25m LIBOR Swap effective 9/2/14 [Member] | Bank $25m LIBOR Swap effective 9/2/14 [Member] | Bank $25m LIBOR Swap effective 9/2/14 [Member] | Bank $25m LIBOR Swap effective 9/2/14 [Member] | Bank $25m LIBOR Swap effective 12/1/14 [Member] | Bank $25m LIBOR Swap effective 12/1/14 [Member] | Bank $25m LIBOR Swap effective 12/1/14 [Member] | Bank $25m LIBOR Swap effective 12/1/14 [Member] | ||||||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | |||||||||
Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | ||||||||||
Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Minimum [Member] | Maximum [Member] | Weighted Average [Member] | Minimum [Member] | Maximum [Member] | Weighted Average [Member] | |||||||||||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Asset, Notional Amount | ' | ' | ' | ' | ' | ' | $75,000,000 | ' | ' | $25,000,000 | ' | ' | ' | $25,000,000 | ' | ' | ' | $25,000,000 | ' | ' | ' | $25,000,000 | ' | ' | ' | $25,000,000 | ' | ' | ' |
Derivatives, Total Notional Amount | ' | ' | ' | ' | ' | ' | ' | ' | 125,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Inception Date | ' | ' | ' | ' | ' | ' | 30-Dec-10 | ' | ' | 1-Aug-13 | ' | ' | ' | 1-Mar-14 | ' | ' | ' | 1-Jun-14 | ' | ' | ' | 2-Sep-14 | ' | ' | ' | 1-Dec-14 | ' | ' | ' |
Number of Interest Rate Derivatives Held | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Term of Contract | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | '3 years | '6 years | ' | ' | '3 years | '6 years | ' | ' | '3 years | '6 years | ' | ' | '3 years | '6 years | ' | ' | '3 years | '6 years | ' |
Objectives for Using Derivative Instruments | ' | ' | ' | ' | ' | ' | 'related to the Holding Company’s cash outflows associated with the subordinated debt related to trust preferred securities to protect against an increase in the London Interbank Offered Rate (“LIBORâ€) | ' | ' | 'to reduce its exposure to variability in interest-related cash outflows attributable to changes in the LIBOR swap rate associated with borrowing programs for each of the periods, initially expected to be accomplished with LIBOR-indexed brokered deposits, but may also include LIBOR-indexed FHLB advances | ' | ' | ' | 'to reduce its exposure to variability in interest-related cash outflows attributable to changes in the LIBOR swap rate associated with borrowing programs for each of the periods, initially expected to be accomplished with LIBOR-indexed brokered deposits, but may also include LIBOR-indexed FHLB advances | ' | ' | ' | 'to reduce its exposure to variability in interest-related cash outflows attributable to changes in the LIBOR swap rate associated with borrowing programs for each of the periods, initially expected to be accomplished with LIBOR-indexed brokered deposits, but may also include LIBOR-indexed FHLB advances | ' | ' | ' | 'to reduce its exposure to variability in interest-related cash outflows attributable to changes in the LIBOR swap rate associated with borrowing programs for each of the periods, initially expected to be accomplished with LIBOR-indexed brokered deposits, but may also include LIBOR-indexed FHLB advances | ' | ' | ' | 'to reduce its exposure to variability in interest-related cash outflows attributable to changes in the LIBOR swap rate associated with borrowing programs for each of the periods, initially expected to be accomplished with LIBOR-indexed brokered deposits, but may also include LIBOR-indexed FHLB advances | ' | ' | ' |
Derivative, Fixed Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.68% | 2.32% | 1.98% | ' | 1.68% | 2.32% | 1.98% | ' | 1.68% | 2.32% | 1.98% | ' | 1.68% | 2.32% | 1.98% | ' | 1.68% | 2.32% | 1.98% |
Derivative, Description of Hedged Item | ' | ' | ' | ' | ' | ' | 6.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Description of Variable Rate Basis | ' | ' | ' | ' | ' | ' | 'three-month LIBOR plus 1.68% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Average Variable Interest Rate | ' | ' | ' | ' | ' | ' | 4.45% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on Cash Flow Hedge Ineffectiveness | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Collateral, Right to Reclaim Cash | ' | ' | ' | ' | 7,300,000 | 10,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | $2,600,000 | ' | $2,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivatives_and_Hedging_Activi7
Derivatives and Hedging Activities Non-designated Hedges Text description (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] |
Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | |||
contracts | contracts | contracts | contracts | |||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Collateral, Obligation to Return Cash | ' | ' | $6.40 | $8.40 | ' | ' | ' | ' |
Derivative, Collateral, Right to Reclaim Cash | ' | ' | ' | ' | 7.3 | 10.4 | ' | ' |
Derivative Credit Risk Valuation Adjustment, Derivative Assets | 0 | 0 | ' | ' | ' | ' | ' | ' |
Derivative, Number of Instruments Held | ' | ' | 6 | 11 | ' | ' | 0 | 6 |
Derivative, Notional Amount | ' | ' | $24.80 | $55.70 | ' | ' | ' | $3.70 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Expense Components [Line Items] | ' | ' | ' | ' |
Income before income taxes | $26,443 | $20,820 | $74,818 | $50,985 |
Income tax expense | 8,557 | 5,124 | 25,005 | 14,215 |
Net income/(loss) from continuing operations | 17,886 | 15,696 | 49,813 | 36,770 |
Effective Income Tax Rate, Continuing Operations | ' | ' | 33.40% | 27.90% |
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | ' | ' | 10,353 | 6,999 |
Discontinued Operation, Tax Effect of Discontinued Operation | ' | ' | 4,529 | 1,183 |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 1,321 | 1,672 | 5,824 | 5,816 |
Effective Tax Rate Discontinued Operations | ' | ' | 43.70% | 16.90% |
Tax effect Attributable to Noncontrolling Interests | ' | ' | 0 | 0 |
Effective Tax Rate Noncontrolling Interests | ' | ' | 0.00% | 0.00% |
Net Income Attributable to Noncontrolling Interest | 871 | 855 | 2,770 | 2,407 |
Income from Continuing and Discontinued Operations Attributable to Parent Before Tax | ' | ' | 82,401 | 55,577 |
Tax Expense (Benefit) Total | ' | ' | 29,534 | 15,398 |
Net income attributable to the Company | $18,336 | $16,513 | $52,867 | $40,179 |
Effective Tax Rate Total | ' | ' | 35.80% | 27.70% |
Income_Taxes_Income_Taxes_Disc
Income Taxes Income Taxes Discussion (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ' | ' | ' | ' | ' |
Unrecognized Tax Benefits | $2,000,000 | ' | $2,000,000 | ' | $4,800,000 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 1,200,000 | ' | 1,200,000 | ' | ' |
Unrecognized Tax Benefits, Period Increase (Decrease) | ' | ' | -2,800,000 | ' | ' |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | ' | ' | -4,300,000 | ' | ' |
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions | ' | ' | 1,500,000 | ' | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Estimated Range of Change, Lower Bound | 1,500,000 | ' | 1,500,000 | ' | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Other Information | ' | ' | 'as a result of settlements with state taxing authorities | ' | ' |
Effective Income Tax Rate Reconciliation, Percent | ' | ' | 33.40% | 27.90% | ' |
Income tax expense | $8,557,000 | $5,124,000 | $25,005,000 | $14,215,000 | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | ' | ' | 35.00% | 35.00% | ' |
filing an accounting method change for income tax purposes [Member] | ' | ' | ' | ' | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ' | ' | ' | ' | ' |
Significant Change in Unrecognized Tax Benefits, Nature of Event | ' | ' | 'timing-related uncertainties as a result of the Company filing an accounting method change for income tax purposes | ' | ' |
change in interpretation of tax law with respect to certain positions previously taken [Member] | ' | ' | ' | ' | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ' | ' | ' | ' | ' |
Significant Change in Unrecognized Tax Benefits, Nature of Event | ' | ' | 'a change in the interpretation of tax law with respect to certain tax positions taken on previously filed tax returns | ' | ' |
Noncontrolling_Interests_Compo
Noncontrolling Interests Components of Noncontrolling Interests (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Redeemable Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Stockholders' Equity Attributable to Noncontrolling Interest | $17,363 | $19,287 | ' | ' |
Redeemable Noncontrolling Interests | 17,224 | 19,287 | 19,675 | 21,691 |
Nonredeemable Noncontrolling Interest | 139 | 0 | ' | ' |
Anchor [Member] | ' | ' | ' | ' |
Redeemable Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Stockholders' Equity Attributable to Noncontrolling Interest | 10,919 | 11,105 | ' | ' |
BOS [Member] | ' | ' | ' | ' |
Redeemable Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Stockholders' Equity Attributable to Noncontrolling Interest | 4,206 | 5,782 | ' | ' |
DGHM [Member] | ' | ' | ' | ' |
Redeemable Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Stockholders' Equity Attributable to Noncontrolling Interest | $2,238 | $2,400 | ' | ' |
Noncontrolling_Interests_Redee
Noncontrolling Interests Redeemable Noncontrolilng Interests Rollforward (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Redeemable Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Redeemable noncontrolling interests at beginning of year | ' | ' | $19,287 | $21,691 |
Net Income Attributable to Noncontrolling Interest | 871 | 855 | 2,770 | 2,407 |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | ' | ' | -2,341 | -3,168 |
Noncontrolling Interest, adjustment to fair value | ' | ' | -2,492 | 215 |
Redeemable noncontrolling interests at end of period | 17,224 | 19,675 | 17,224 | 19,675 |
DTC [Member] | ' | ' | ' | ' |
Redeemable Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Redeemable Noncontrolling Interest Decrease, Sale of ownership interest | ' | ' | $0 | ($1,470) |
Noncontrolling_Interests_Nonco
Noncontrolling Interests Noncontrolling Interests - Text Details (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Noncontrolling Interest [Abstract] | ' | ' | ' | ' | ' | ' |
Net Income Attributable to Noncontrolling Interest | $871 | $855 | $2,770 | $2,407 | ' | ' |
Redeemable Noncontrolling Interest, Equity, Carrying Amount | 17,224 | 19,675 | 17,224 | 19,675 | 19,287 | 21,691 |
Nonredeemable Noncontrolling Interest | $139 | ' | $139 | ' | $0 | ' |
Equity_Details
Equity (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | Series D Preferred Stock [Member] | Series D Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | ||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Depositary Shares, Issued | 2,000,000 | ' | ' | ' | ' | ' | ' |
Preferred Stock, Contract Terms | ' | ' | 'Each Depositary Share represents a 1/40th interest in a share | ' | ' | ' | ' |
Preferred Stock, Dividend Rate, Percentage | ' | ' | 6.95% | ' | ' | ' | ' |
Preferred Stock, Par or Stated Value Per Share | $1 | $1 | $1 | ' | $1 | ' | ' |
Preferred Stock, Liquidation Preference Per Share | ' | ' | $1,000 | $0 | $0 | ' | $100,000 |
Preferred Stock, Value, Issued | $47,753 | $58,089 | $47,753 | $0 | $0 | ' | $58,089 |
Preferred Stock, Shares Issued | ' | ' | 50,000 | 0 | 0 | 401 | 401 |
Equity_Preferred_stock_details
Equity Preferred stock details (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | |||
Class of Stock [Line Items] | ' | ' | ' |
Preferred Stock, Value, Issued | $47,753 | ' | $58,089 |
Preferred Stock, Par or Stated Value Per Share | $1 | ' | $1 |
Preferred Stock, Shares Authorized | 2,000,000 | ' | 2,000,000 |
Series B Preferred Stock [Member] | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Preferred Stock, Value, Issued | 0 | ' | 58,089 |
Preferred Stock, Par or Stated Value Per Share | $1 | ' | ' |
Preferred Stock, Shares Issued | 0 | 401 | 401 |
Preferred Stock, Shares Outstanding | 0 | ' | 401 |
Preferred Stock, Liquidation Preference Per Share | $0 | ' | $100,000 |
Series D Preferred Stock [Member] | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Preferred Stock, Value, Issued | $47,753 | ' | $0 |
Preferred Stock, Par or Stated Value Per Share | $1 | ' | ' |
Preferred Stock, Shares Issued | 50,000 | ' | 0 |
Preferred Stock, Shares Outstanding | 50,000 | ' | 0 |
Preferred Stock, Liquidation Preference Per Share | $1,000 | ' | $0 |
Restructuring_Details
Restructuring (Details) (USD $) | 3 Months Ended | 33 Months Ended | |||||||
Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring and Related Cost, Cost Incurred to Date | ' | ' | ' | ' | ' | ' | $14,000,000 | ' | ' |
Restructuring Reserve | 1,903,000 | 2,879,000 | 897,000 | 1,392,000 | 2,513,000 | 4,111,000 | ' | 3,623,000 | 3,099,000 |
Restructuring and Related Cost, Incurred Cost | 0 | 0 | 0 | 564,000 | 135,000 | 3,581,000 | ' | ' | ' |
Restructuring Reserve, Settled with Cash | -976,000 | -744,000 | -1,006,000 | -1,685,000 | -721,000 | -862,000 | ' | ' | ' |
Employee Severance [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring and Related Cost, Expected Cost | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Restructuring Reserve | 1,805,000 | 2,781,000 | 799,000 | 1,181,000 | 2,198,000 | 4,013,000 | ' | 3,517,000 | 2,658,000 |
Restructuring and Related Cost, Incurred Cost | 0 | 0 | 0 | 22,000 | -1,000 | 3,409,000 | ' | ' | ' |
Restructuring Reserve, Settled with Cash | -976,000 | -736,000 | -1,006,000 | -1,039,000 | -459,000 | -577,000 | ' | ' | ' |
Contract Termination [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Reserve | 98,000 | 98,000 | 98,000 | 211,000 | 211,000 | 98,000 | ' | 98,000 | 211,000 |
Restructuring and Related Cost, Incurred Cost | 0 | 0 | 0 | 255,000 | 0 | 147,000 | ' | ' | ' |
Restructuring Reserve, Settled with Cash | 0 | 0 | 0 | -255,000 | 0 | -260,000 | ' | ' | ' |
Restructuring Related Professional Fees [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Reserve | 0 | 0 | 0 | 0 | 104,000 | 0 | ' | 8,000 | 230,000 |
Restructuring and Related Cost, Incurred Cost | 0 | 0 | 0 | 183,000 | 128,000 | 22,000 | ' | ' | ' |
Restructuring Reserve, Settled with Cash | 0 | -8,000 | 0 | -287,000 | -254,000 | -22,000 | ' | ' | ' |
Other Expense [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Reserve | 0 | 0 | 0 | 0 | 0 | 0 | ' | 0 | 0 |
Restructuring and Related Cost, Incurred Cost | 0 | 0 | 0 | 104,000 | 8,000 | 3,000 | ' | ' | ' |
Restructuring Reserve, Settled with Cash | 0 | 0 | 0 | -104,000 | -8,000 | -3,000 | ' | ' | ' |
Private Banking Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring and Related Cost, Cost Incurred to Date | ' | ' | ' | ' | ' | ' | 9,500,000 | ' | ' |
Holding Company and Eliminations Segment [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring and Related Cost, Cost Incurred to Date | ' | ' | ' | ' | ' | ' | 4,500,000 | ' | ' |
Senior Executive Restructuring Plan 2012 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring and Related Cost, Cost Incurred to Date | ' | ' | ' | ' | ' | ' | $4,800,000 | ' | ' |