Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'IBERIABANK CORP | ' |
Entity Central Index Key | '0000933141 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 29,775,721 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $260,742 | $248,214 |
Interest-bearing deposits in banks | 292,706 | 722,763 |
Total cash and cash equivalents | 553,448 | 970,977 |
Securities available for sale, at fair value | 1,964,389 | 1,745,004 |
Securities held to maturity, fair values of $155,310 and $211,498, respectively | 155,678 | 205,062 |
Mortgage loans held for sale | 108,285 | 267,475 |
Loans covered by loss share agreements | 807,002 | 1,092,756 |
Non-covered loans, net of unearned income | 8,236,035 | 7,405,824 |
Total loans, net of unearned income | 9,043,037 | 8,498,580 |
Allowance for credit losses | -148,545 | -251,603 |
Loans, net | 8,894,492 | 8,246,977 |
FDIC loss share receivables | 204,885 | 423,069 |
Premises and equipment, net | 289,157 | 303,523 |
Goodwill | 401,872 | 401,872 |
Other assets | 572,871 | 565,719 |
Total Assets | 13,145,077 | 13,129,678 |
Liabilities | ' | ' |
Noninterest-bearing | 2,529,296 | 1,967,662 |
Interest-bearing | 8,421,468 | 8,780,615 |
Total deposits | 10,950,764 | 10,748,277 |
Short-term borrowings | 258,850 | 303,045 |
Long-term debt | 281,101 | 423,377 |
Other liabilities | 129,094 | 125,111 |
Total Liabilities | 11,619,809 | 11,599,810 |
Shareholders' Equity | ' | ' |
Common stock, $1 par value - 50,000,000 shares authorized; 31,917,385 shares issued | 31,917 | 31,917 |
Additional paid-in capital | 1,175,197 | 1,176,180 |
Retained earnings | 420,664 | 411,472 |
Accumulated other comprehensive income (loss) | -1,317 | 24,477 |
Treasury stock at cost - 2,182,926 and 2,427,640 shares, respectively | -101,193 | -114,178 |
Total Shareholders' Equity | 1,525,268 | 1,529,868 |
Total Liabilities and Shareholders' Equity | $13,145,077 | $13,129,678 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Securities held to maturity, fair values | $155,310 | $211,498 |
Common stock, par value | $1 | $1 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 31,917,385 | 31,917,385 |
Treasury stock, shares | 2,182,926 | 2,427,640 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest and Dividend Income | ' | ' | ' | ' |
Loans, including fees | $120,035 | $133,397 | $358,344 | $382,212 |
Mortgage loans held for sale, including fees | 1,289 | 1,466 | 3,965 | 3,747 |
Investment securities: | ' | ' | ' | ' |
Taxable interest | 7,837 | 8,133 | 22,241 | 26,745 |
Tax-exempt interest | 1,649 | 1,809 | 5,082 | 5,589 |
Amortization of FDIC loss share receivable | -22,875 | -33,488 | -68,707 | -89,899 |
Other | 577 | 634 | 2,180 | 2,028 |
Total interest and dividend income | 108,512 | 111,951 | 323,105 | 330,422 |
Interest Expense | ' | ' | ' | ' |
NOW and MMDA | 4,441 | 5,863 | 14,462 | 17,942 |
Savings | 71 | 154 | 238 | 459 |
Time deposits | 4,012 | 5,530 | 13,038 | 19,755 |
Short-term borrowings | 104 | 197 | 365 | 507 |
Long-term debt | 2,432 | 3,481 | 8,196 | 9,999 |
Total interest expense | 11,060 | 15,225 | 36,299 | 48,662 |
Net interest income | 97,452 | 96,726 | 286,806 | 281,760 |
Provision for loan losses | 2,014 | 4,053 | 445 | 15,805 |
Net interest income after provision for loan losses | 95,438 | 92,673 | 286,361 | 265,955 |
Noninterest Income | ' | ' | ' | ' |
Service charges on deposit accounts | 7,512 | 6,952 | 21,415 | 19,557 |
Mortgage income | 15,202 | 23,215 | 51,841 | 55,118 |
Title revenue | 5,482 | 5,623 | 16,199 | 15,495 |
ATM/debit card fee income | 2,476 | 2,377 | 7,017 | 6,566 |
Income from bank owned life insurance | 908 | 916 | 2,747 | 2,771 |
Gain (loss) on sale of available for sale investments | -3 | 41 | 2,259 | 3,743 |
Derivative losses reclassified from other comprehensive income | ' | -409 | -392 | -1,195 |
Broker commissions | 3,950 | 3,092 | 11,347 | 9,254 |
Other income | 7,736 | 4,746 | 17,809 | 14,334 |
Total noninterest income | 43,263 | 46,553 | 130,242 | 125,643 |
Noninterest Expense | ' | ' | ' | ' |
Salaries and employee benefits | 59,234 | 59,938 | 185,578 | 172,878 |
Net occupancy and equipment | 14,572 | 13,869 | 44,050 | 39,496 |
Impairment of FDIC loss share receivables and other long-lived assets | 1,319 | ' | 37,750 | 2,743 |
Franchise and shares tax | 911 | 1,023 | 2,986 | 3,664 |
Communication and delivery | 2,899 | 3,152 | 9,286 | 9,424 |
Marketing and business development | 2,350 | 2,189 | 8,486 | 7,964 |
Data processing | 4,837 | 4,931 | 13,093 | 11,537 |
Printing, stationery and supplies | 581 | 848 | 2,004 | 2,523 |
Amortization of acquisition intangibles | 1,179 | 1,287 | 3,543 | 3,865 |
Professional services | 4,156 | 5,947 | 13,675 | 15,665 |
Costs of OREO property, net | -359 | 270 | 980 | 4,453 |
Credit and other loan related expense | 5,248 | 4,846 | 13,155 | 13,709 |
Insurance | 3,125 | 2,615 | 8,408 | 7,745 |
Travel and entertainment | 1,912 | 2,398 | 6,199 | 7,158 |
Other expenses | 6,188 | 6,535 | 21,217 | 15,920 |
Total noninterest expense | 108,152 | 109,848 | 370,410 | 318,744 |
Income before income tax expense | 30,549 | 29,378 | 46,193 | 72,854 |
Income tax expense | 7,357 | 8,144 | 6,694 | 19,667 |
Net Income | 23,192 | 21,234 | 39,499 | 53,187 |
Income Available to Common Shareholders - Basic | 23,192 | 21,234 | 39,499 | 53,187 |
Earnings Allocated to Unvested Restricted Stock | -425 | -406 | -744 | -1,007 |
Earnings Available to Common Shareholders - Diluted | 22,767 | 20,828 | 38,755 | 52,180 |
Earnings per common share - Basic | $0.78 | $0.73 | $1.34 | $1.81 |
Earnings per common share - Diluted | $0.78 | $0.73 | $1.33 | $1.81 |
Cash dividends declared per common share | $0.34 | $0.34 | $1.02 | $1.02 |
Unrealized gains on securities: | ' | ' | ' | ' |
Unrealized holding gains (losses) arising during the period | 5,528 | 6,099 | -38,769 | 8,236 |
Less: reclassification adjustment for gains (losses) included in net income | 3 | -41 | -2,259 | -3,743 |
Unrealized (loss) gain on securities, before tax | 5,531 | 6,058 | -41,028 | 4,493 |
Fair value of derivative instruments designated as cash flow hedges: | ' | ' | ' | ' |
Change in fair value of derivative instruments designated as cash flow hedges during the period | ' | 800 | 952 | -1,882 |
Less: reclassification adjustment for losses (gains) included in net income | ' | 409 | 392 | 1,195 |
Fair value of derivative instruments designated as cash flow hedges, before tax | ' | 1,209 | 1,344 | -687 |
Other comprehensive income (loss), before tax | 5,531 | 7,267 | -39,684 | 3,806 |
Income tax expense (benefit) related to items of other comprehensive income (loss) | 1,936 | 2,543 | -13,890 | 1,332 |
Other comprehensive income (loss), net of tax | 3,595 | 4,724 | -25,794 | 2,474 |
Comprehensive income | $26,787 | $25,958 | $13,705 | $55,661 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
In Thousands, except Share data | ||||||
Beginning balance at Dec. 31, 2011 | $1,482,661 | $31,163 | $1,135,880 | $375,184 | $24,457 | ($84,023) |
Beginning balance, shares at Dec. 31, 2011 | ' | 31,163,070 | ' | ' | ' | 1,789,165 |
Net income | 53,187 | ' | ' | 53,187 | ' | ' |
Other comprehensive income (loss) | 2,474 | ' | ' | ' | 2,474 | ' |
Cash dividends declared, $1.02 per share | -30,080 | ' | ' | -30,080 | ' | ' |
Reissuance of treasury stock under incentive plan, net of shares surrendered in payment, including tax benefit | 836 | ' | 17 | ' | ' | 819 |
Reissuance of treasury stock under incentive plan, shares | ' | ' | ' | ' | ' | -181,836 |
Common stock issued for acquisitions | 39,203 | 754 | 38,449 | ' | ' | ' |
Common stock issued for acquisitions, shares | ' | 754,334 | ' | ' | ' | ' |
Common stock issued for recognition and retention plan | ' | ' | -7,776 | ' | ' | 7,776 |
Share-based compensation cost | 7,306 | ' | 7,306 | ' | ' | ' |
Treasury stock acquired at cost | -40,433 | ' | ' | ' | ' | -40,433 |
Treasury stock acquired at cost, Shares | ' | ' | ' | ' | ' | 853,308 |
Ending balance at Sep. 30, 2012 | 1,515,154 | 31,917 | 1,173,876 | 398,291 | 26,931 | -115,861 |
Ending balance, shares at Sep. 30, 2012 | ' | 31,917,404 | ' | ' | ' | 2,460,637 |
Beginning balance at Dec. 31, 2012 | 1,529,868 | 31,917 | 1,176,180 | 411,472 | 24,477 | -114,178 |
Beginning balance, shares at Dec. 31, 2012 | ' | 31,917,385 | ' | ' | ' | 2,427,640 |
Net income | 39,499 | ' | ' | 39,499 | ' | ' |
Other comprehensive income (loss) | -25,794 | ' | ' | ' | -25,794 | ' |
Cash dividends declared, $1.02 per share | -30,307 | ' | ' | -30,307 | ' | ' |
Reissuance of treasury stock under incentive plan, net of shares surrendered in payment, including tax benefit | 4,003 | ' | -966 | ' | ' | 4,969 |
Reissuance of treasury stock under incentive plan, shares | ' | ' | ' | ' | ' | -244,714 |
Common stock issued for recognition and retention plan | ' | ' | -8,016 | ' | ' | 8,016 |
Share-based compensation cost | 7,999 | ' | 7,999 | ' | ' | ' |
Ending balance at Sep. 30, 2013 | $1,525,268 | $31,917 | $1,175,197 | $420,664 | ($1,317) | ($101,193) |
Ending balance, shares at Sep. 30, 2013 | ' | 31,917,385 | ' | ' | ' | 2,182,926 |
Consolidated_Statements_of_Sha1
Consolidated Statements of Shareholders' Equity (Parenthetical) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Cash dividends declared per share | $1.02 | $1.02 |
Retained Earnings [Member] | ' | ' |
Cash dividends declared per share | $1.02 | $1.02 |
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 | $39,499 | $53,187 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 19,851 | ' |
Amortization of purchase accounting adjustments, net | -1,186 | ' |
Provision for loan losses | 445 | 15,805 |
Share-based equity compensation expense | -7,999 | -7,306 |
(Gain) loss on sale of assets | -51 | ' |
Gain on sale of available for sale investments | -2,259 | ' |
Gain on sale of OREO | -5,211 | ' |
Loss on abandonment of fixed assets | 4,941 | ' |
Impairment | 31,813 | ' |
Amortization of premium/discount on investments | 15,426 | ' |
Derivative (gains) losses on swaps | -209 | ' |
Benefit for deferred income taxes | -7,802 | ' |
Originations of mortgage loans held for sale | -1,712,557 | ' |
Proceeds from sales of mortgage loans held for sale | 1,923,455 | ' |
Gain on sale of mortgage loans held for sale, net | -51,709 | ' |
Tax benefit associated with share-based payment arrangements | -495 | ' |
(Increase) decrease in other assets | -15,759 | ' |
Other operating activities, net | 30,079 | ' |
Net Cash Provided by Operating Activities | 276,270 | ' |
Cash Flows from Investing Activities | ' | ' |
Proceeds from sales of securities available for sale | 44,672 | ' |
Proceeds from maturities, prepayments and calls of securities available for sale | 618,059 | ' |
Purchases of securities available for sale | -935,341 | ' |
Proceeds from maturities, prepayments and calls of securities held to maturity | 54,372 | ' |
Purchases of securities held to maturity | -5,901 | ' |
FDIC reimbursement of recoverable covered asset losses | 56,311 | ' |
Increase in loans receivable, net | -595,315 | ' |
Proceeds from sale of premises and equipment | 7,371 | ' |
Purchases of premises and equipment | -12,592 | ' |
Proceeds from disposition of real estate owned | 76,150 | ' |
Investment in new market tax credit entities | -1,696 | ' |
Cash received in excess of cash paid for acquisition | ' | ' |
Other investing activities, net | 8,963 | ' |
Net Cash Used in Investing Activities | -684,947 | ' |
Cash Flows from Financing Activities | ' | ' |
Increase in deposits, net of deposits acquired | 202,959 | ' |
Net change in short-term borrowings, net of borrowings acquired | -44,196 | ' |
Proceeds from long-term debt | 2,230 | ' |
Repayments of long-term debt | -143,625 | ' |
Dividends paid to shareholders | -30,223 | ' |
Proceeds from sale of treasury stock for stock options exercised | 5,441 | 1,541 |
Payments to repurchase common stock | -1,933 | ' |
Tax benefit associated with share-based payment arrangements | 495 | 940 |
Net Cash (Used in) Provided by Financing Activities | -8,852 | ' |
Net (Decrease) Increase In Cash and Cash Equivalents | -417,529 | ' |
Cash and Cash Equivalents at Beginning of Period | 970,977 | ' |
Cash and Cash Equivalents at End of Period | 553,448 | ' |
Supplemental Schedule of Noncash Activities | ' | ' |
Acquisition of real estate in settlement of loans | 82,383 | ' |
Common stock issued in acquisition | ' | ' |
Transfers of property into Other Real Estate | 82,383 | ' |
Supplemental Disclosures | ' | ' |
Interest on deposits and borrowings | 36,888 | ' |
Income taxes, net | 19,891 | ' |
Restated [Member] | ' | ' |
Cash Flows from Operating Activities | ' | ' |
Net income | ' | 53,187 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | ' | 15,870 |
Amortization of purchase accounting adjustments, net | ' | -27,896 |
Provision for loan losses | ' | 15,805 |
Share-based equity compensation expense | ' | -7,306 |
(Gain) loss on sale of assets | ' | 144 |
Gain on sale of available for sale investments | ' | -3,743 |
Gain on sale of OREO | ' | -4,083 |
Loss on abandonment of fixed assets | ' | 2,743 |
Impairment | ' | ' |
Amortization of premium/discount on investments | ' | 15,365 |
Derivative (gains) losses on swaps | ' | 1 |
Benefit for deferred income taxes | ' | -5,264 |
Originations of mortgage loans held for sale | ' | -1,749,121 |
Proceeds from sales of mortgage loans held for sale | ' | 1,742,830 |
Gain on sale of mortgage loans held for sale, net | ' | -51,828 |
Tax benefit associated with share-based payment arrangements | ' | -940 |
(Increase) decrease in other assets | ' | 9,823 |
Other operating activities, net | ' | 23,826 |
Net Cash Provided by Operating Activities | ' | 44,025 |
Cash Flows from Investing Activities | ' | ' |
Proceeds from sales of securities available for sale | ' | 153,397 |
Proceeds from maturities, prepayments and calls of securities available for sale | ' | 739,734 |
Purchases of securities available for sale | ' | -795,178 |
Proceeds from maturities, prepayments and calls of securities held to maturity | ' | 40,071 |
Purchases of securities held to maturity | ' | -37,236 |
FDIC reimbursement of recoverable covered asset losses | ' | 114,564 |
Increase in loans receivable, net | ' | -630,229 |
Proceeds from sale of premises and equipment | ' | 355 |
Purchases of premises and equipment | ' | -22,922 |
Proceeds from disposition of real estate owned | ' | 80,282 |
Investment in new market tax credit entities | ' | -20,000 |
Cash received in excess of cash paid for acquisition | ' | 32,425 |
Other investing activities, net | ' | 6,088 |
Net Cash Used in Investing Activities | ' | -338,649 |
Cash Flows from Financing Activities | ' | ' |
Increase in deposits, net of deposits acquired | ' | 339,379 |
Net change in short-term borrowings, net of borrowings acquired | ' | 126,136 |
Proceeds from long-term debt | ' | 23,449 |
Repayments of long-term debt | ' | -74,920 |
Dividends paid to shareholders | ' | -30,053 |
Proceeds from sale of treasury stock for stock options exercised | ' | 1,541 |
Payments to repurchase common stock | ' | -42,078 |
Tax benefit associated with share-based payment arrangements | ' | 940 |
Net Cash (Used in) Provided by Financing Activities | ' | 344,394 |
Net (Decrease) Increase In Cash and Cash Equivalents | ' | 49,770 |
Cash and Cash Equivalents at Beginning of Period | ' | 573,296 |
Cash and Cash Equivalents at End of Period | ' | 623,066 |
Supplemental Schedule of Noncash Activities | ' | ' |
Acquisition of real estate in settlement of loans | ' | 82,780 |
Common stock issued in acquisition | ' | 39,203 |
Transfers of property into Other Real Estate | ' | 82,780 |
Supplemental Disclosures | ' | ' |
Interest on deposits and borrowings | ' | 49,529 |
Income taxes, net | ' | $10,902 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Basis of Presentation | ' | |||
NOTE 1 – BASIS OF PRESENTATION | ||||
The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include information or footnotes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with generally accepted accounting principles. These interim financial statements should be read in conjunction with the audited consolidated financial statements and note disclosures for IBERIABANK Corporation (the “Company”) previously filed with the Securities and Exchange Commission (the “SEC”) in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | ||||
PRINCIPLES OF CONSOLIDATION | ||||
The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, IBERIABANK, Lenders Title Company (“LTC”), IBERIA Capital Partners L.L.C. (“ICP”), IB Aircraft Holdings, LLC, IBERIA Asset Management Inc. (“IAM”), and IBERIA CDE, LLC (“CDE”). All significant intercompany balances and transactions have been eliminated in consolidation. All normal, recurring adjustments which, in the opinion of management are necessary for a fair presentation of the financial statements, have been included. Certain amounts reported in prior periods have been reclassified to conform to the current period presentation. | ||||
NATURE OF OPERATIONS | ||||
The Company offers commercial and retail banking products and services to customers throughout locations in six states through IBERIABANK. The Company also operates mortgage production offices in twelve states through IBERIABANK Mortgage Company (“IMC”), and offers a full line of title insurance and closing services throughout Arkansas and Louisiana through LTC and its subsidiaries. ICP provides equity research, institutional sales and trading, and corporate finance services. IB Aircraft Holdings, LLC owns a fractional share of an aircraft used by management of the Company and its subsidiaries. IAM provides wealth management and trust services for commercial and private banking clients. CDE is engaged in the purchase of tax credits. | ||||
USE OF ESTIMATES | ||||
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are susceptible to significant change in the near term are the allowance for credit losses, valuation of and accounting for loans covered by loss sharing arrangements with the FDIC and the related loss share receivables, valuation of and accounting for acquired loans, and valuation of goodwill, intangible assets and other purchase accounting adjustments. | ||||
CONCENTRATION OF CREDIT RISKS | ||||
Most of the Company’s business activity is with customers located within the States of Louisiana, Florida, Arkansas, Alabama, Texas, and Tennessee. The Company’s lending activity is concentrated in its market areas in those states. The Company has emphasized originations of commercial loans and private banking loans, defined as loans to larger consumer clients. Repayments on loans are expected to come from cash flows of the borrower and/or guarantor. Losses on secured loans are limited by the value of the collateral upon default of the borrowers. The Company does not have any significant concentrations to any one industry or customer. | ||||
SEGMENTS | ||||
All of the Company’s banking operations are considered by management to be aggregated in one reportable operating segment. Because the overall banking operations comprise substantially all of the consolidated operations and none of the Company’s other subsidiaries, either individually or in the aggregate, meet quantitative materiality thresholds, no separate segment disclosures are presented in these consolidated financial statements. The Company has invested in its financial reporting infrastructure to report financial information associated with performance of segments. The Company anticipates reporting this information at the end of 2013. | ||||
FDIC LOSS SHARE RECEIVABLE | ||||
Because the FDIC reimburses the Company for losses on certain loans acquired in 2009 and 2010, indemnification assets were recorded at fair value as of the acquisition dates. The initial values of the indemnification assets were based on estimated cash flows to be received over the expected life of the acquired assets, not to exceed the term of the indemnification agreements. The loss sharing terms of the Company’s commercial and single family residential indemnification agreements are five years and ten years, respectively, from the date of acquisition. | ||||
Because the indemnification assets are measured on the same basis as the indemnified loans, subject to contractual and collectability limitations, the indemnification assets are impacted by changes in expected cash flows on covered assets. Increases in credit losses expected to occur within the loss share term are recorded as current period increases to the allowance for credit losses and increase the amount collectible from the FDIC by the applicable loss share percentage. Decreases in credit losses expected to occur within loss share term reduce the amount collectible from the FDIC and increase the amount collectible from customers in the form of prospective accretion on loans. Increases in the portion of indemnification asset collectible from customers are amortized to income. Periodic amortization represents the amount that is expected to result in symmetrical recognition of pool-level accretion and amortization over the shorter of 1) the life of the loan or 2) the life of the shared loss agreement. | ||||
The Company assesses the indemnification assets for collectability at the acquisition level based on three sources: 1) the FDIC, 2) OREO transactions, and 3) customers. Amounts collectible from the FDIC through loss reimbursements are comprised of losses currently expected within the loss share term. A current period impairment would be recorded to the extent that events or circumstances indicate that losses previously expected to occur within the loss share term are expected to occur subsequent to loss share termination. Amounts collectible through expected gains on the sale of OREO are written-up or impaired each period based on the best available information. Amounts collectible from customers in the form of accretion are deemed collectible to the extent that net acquisition-level yield, which primarily consists of accretion and indemnification asset amortization, are expected to remain positive over the life of the shared loss agreement. Impairment of amounts collectible from customers would be recorded as a current period charge to income, to the extent required to maintain the zero net yield floor. | ||||
Loss assumptions used to measure the basis of the indemnified loans are consistent with the loss assumptions used to measure the indemnification assets. | ||||
A claim receivable is established within other assets when a loss is incurred and the indemnification asset is reduced when cash is received from the FDIC. | ||||
FAIR VALUE MEASUREMENTS | ||||
The Company estimates fair value based on the assumptions market participants would use when selling an asset or transferring a liability and characterizes such measurements within the fair value hierarchy based on the inputs used to develop those assumptions and measure fair value. The hierarchy requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: | ||||
• | Level 1 - Quoted prices in active markets for identical assets or liabilities. | |||
• | Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. | |||
• | Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. | |||
A description of the valuation methodologies used for instruments measured at fair value follows, as well as the classification of such instruments within the valuation hierarchy. | ||||
Investment securities | ||||
Securities are classified within Level 1 where quoted market prices are available in an active market. Inputs include securities that have quoted prices in active markets for identical assets. If quoted market prices are unavailable, fair value is estimated using quoted prices of securities with similar characteristics, at which point the securities would be classified within Level 2 of the hierarchy. Examples may include certain collateralized mortgage and debt obligations. | ||||
Mortgage loans held for sale | ||||
As of September 30, 2013, the Company has $108,285,000 of conforming mortgage loans held for sale. Mortgage loans originated and held for sale are carried at the lower of cost or estimated fair value. The Company obtains quotes or bids on these loans directly from purchasing financial institutions. Mortgage loans held for sale that were recorded at estimated fair value are included in Note 16. | ||||
Impaired loans | ||||
Loans are measured for impairment using the methods permitted by Accounting Standards Codification (“ASC”) Topic 310. Fair value measurements are used in determining impairment using either the loan’s obtainable market price, if available (Level 1) or the fair value of the collateral if the loan is collateral dependent (Level 2). Measuring the impairment of loans using the present value of expected future cash flows, discounted at the loan’s effective interest rate, is not considered a fair value measurement. Fair value of the collateral is determined by appraisals or independent valuation. | ||||
Other real estate owned (OREO) | ||||
Fair values of OREO at September 30, 2013 are determined by sales agreement or appraisal, and costs to sell are based on estimation per the terms and conditions of the sales agreement or amounts commonly used in real estate transactions. Inputs include appraisal values on the properties or recent sales activity for similar assets in the property’s market, and thus OREO measured at fair value would be classified within Level 2 of the hierarchy. The Company included property write-downs of $1,437,000 and $867,000 in earnings for the three months ended September 30, 2013 and 2012, respectively, and $3,993,000 and $4,900,000 for the nine months ended September 30, 2013 and 2012, respectively. | ||||
Derivative financial instruments | ||||
The Company may utilize interest rate swap agreements to convert a portion of its variable-rate debt to a fixed rate (cash flow hedge). The Company also enters into commitments to originate loans whereby the interest rate on the prospective loan is determined prior to funding (“rate lock commitments”). Rate lock commitments on mortgage loans that are intended to be sold are considered to be derivatives. The Company offers its customers a certificate of deposit that provides the purchaser a guaranteed return of principal at maturity plus potential return, which allows the Company to identify a known cost of funds. The rate of return is based on an equity index, and as such represents an embedded derivative. Fair value of interest rate swaps, interest rate lock commitments, forward sales contracts, and equity-linked written and purchased options are estimated using prices of financial instruments with similar characteristics, and thus are classified within Level 2 of the fair value hierarchy. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Changes And Error Corrections [Abstract] | ' |
Recent Accounting Pronouncements | ' |
NOTE 2 – RECENT ACCOUNTING PRONOUNCEMENTS | |
ASU No. 2012-06 | |
For the quarter ended March 31, 2013, the Company adopted the provisions of ASU No. 2012-06, Business Combinations (Topic 805): Subsequent Accounting for an Indemnification Asset Recognized at the Acquisition Date as a Result of a Government-Assisted Acquisition of a Financial Institution, which clarifies the applicable guidance for subsequently measuring an indemnification asset recognized in a government-assisted acquisition of a financial institution that includes a loss-sharing agreement. The ASU addresses the diversity in practice regarding interpretation of the terms “on the same basis” and “contractual limitations” referred to by the applicable accounting guidance. Accounting principles require that an indemnification asset recognized at the acquisition date as a result of a government-assisted acquisition of a financial institution involving an indemnification agreement shall be subsequently measured on the same basis as the indemnified item. The provisions of ASU No. 2012-06 clarify that, upon subsequent remeasurement of an indemnification asset, the effect of the change in expected cash flows of the indemnification agreement shall be amortized. Any amortization of changes in value is limited to the lesser of the contractual term of the indemnification agreement or the remaining life of the indemnified assets. The ASU also clarifies that the pool level is the appropriate unit of account for determining the life of the indemnified loans. The ASU is to be applied prospectively and does not affect the guidance relating to the recognition or initial measurement of an indemnification asset. | |
Application of the ASU’s provisions on a disaggregated basis had the effect of reducing the remaining period over which the indemnification assets will be amortized. As a result of the shortened amortization period, and based on current cash flow expectations and other assumptions, the Company’s indemnification asset amortization increased amortization expense for the three- and nine-month periods ended September 30, 2013 by $5,496,000 and $15,916,000, respectively, however the change in amortization period did not have a material impact on its financial position and liquidity. Adoption of the ASU also requires the Company to assess the indemnification assets for collectability on a standalone basis. Prior to adoption, the Company assessed collectability of the indemnification asset and the covered loans on a linked basis. The transition in collectability assessment methodology did not have an impact on the Company’s consolidated financial statements for the three months ended September 30, 2013. However, future changes in cash flow expectations and/or other assumptions could result in indemnification asset impairment. | |
ASU No. 2013-02 | |
In 2013, the Company adopted the provisions of ASU No. 2013-06, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which requires the Company to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income on the Company’s consolidated statements of comprehensive income if the amount being reclassified is required under US GAAP to be reclassified in its entirety to net income. The ASU does not change the current requirements for reporting net income or other comprehensive income in the consolidated financial statements of the Company, but does require the Company to provide information about the amounts reclassified out of accumulated other comprehensive income by component. | |
The adoption of the ASU affects the format and presentation of the Company’s consolidated financial statements and the footnotes to the consolidated financial statements, but does not represent a departure from accounting principles previously applied and thus the adoption did not have an effect on the Company’s operating results, financial position, or liquidity. The information required to be presented or disclosed by this ASU is incorporated in the Company’s statements of comprehensive income and Note 13 in these unaudited consolidated financial statements. | |
ASU No. 2011-11 and ASU No. 2013-01 | |
In the first quarter of 2013, the Company adopted the provisions of ASU No. 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities, which requires an entity to disclose gross and net information about certain instruments and transactions eligible for offset in the statement of financial position and instruments and certain transactions subject to an agreement similar to a master netting arrangement. The Company also adopted ASU No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which clarifies the scope of ASU 2011-11. Because the guidance provided by the ASU’s is disclosure related, adoption resulted in additional disclosures incorporated in Note 12 of these unaudited consolidated financial statements. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||
NOTE 3 – EARNINGS PER SHARE | |||||||||||||||||
Share-based payment awards that entitle holders to receive non-forfeitable dividends before vesting are considered participating securities and thus included in the calculation of basic earnings per share. These awards are included in the calculation of basic earnings per share under the two-class method. The two-class method allocates earnings for the period between common shareholders and other participating securities holders. The participating awards receiving dividends will be allocated the same amount of income as if they were outstanding shares. | |||||||||||||||||
The following table presents the calculation of basic and diluted earnings per share. | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
30-Sep | 30-Sep | ||||||||||||||||
(Dollars in thousands, except per share data) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Income available to common shareholders | $ | 23,192 | $ | 21,234 | $ | 39,499 | $ | 53,187 | |||||||||
Distributed earnings to unvested restricted stock | (421 | ) | (401 | ) | (744 | ) | (1,009 | ) | |||||||||
Distributed earnings to common shareholders - basic | 22,771 | 20,833 | 38,755 | 52,178 | |||||||||||||
Undistributed earnings reallocated to unvested restricted stock | (4 | ) | (5 | ) | — | 2 | |||||||||||
Distributed and undistributed earnings to common shareholders - diluted | $ | 22,767 | $ | 20,828 | $ | 38,755 | $ | 52,180 | |||||||||
Weighted average shares outstanding - basic (1) | 29,631,799 | 29,066,000 | 29,582,081 | 29,303,849 | |||||||||||||
Weighted average shares outstanding - diluted | 29,147,232 | 28,548,432 | 29,062,238 | 28,812,631 | |||||||||||||
Earnings per common share - basic | $ | 0.78 | $ | 0.73 | $ | 1.34 | $ | 1.81 | |||||||||
Earnings per common share - diluted | 0.78 | 0.73 | 1.33 | 1.81 | |||||||||||||
Earnings per unvested restricted stock share - basic | 0.77 | 0.71 | 1.33 | 1.82 | |||||||||||||
Earnings per unvested restricted stock share - diluted | 0.78 | 0.72 | 1.33 | 1.82 | |||||||||||||
-1 | Weighted average basic shares outstanding include 547,155 and 563,061 shares of unvested restricted stock for the three months ended September 30, 2013 and 2012, respectively, and 559,556 and 554,041 shares for the nine months ended September 30, 2013 and 2012, respectively. | ||||||||||||||||
Additional information on the Company’s basic earnings per common share is shown in the following table. | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands, except per share data) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Distributed earnings to common shareholders | $ | 9,926 | $ | 9,826 | $ | 29,736 | $ | 29,695 | |||||||||
Undistributed earnings to common shareholders | 12,845 | 11,007 | 9,019 | 22,483 | |||||||||||||
Total earnings to common shareholders | $ | 22,771 | $ | 20,833 | $ | 38,755 | $ | 52,178 | |||||||||
Distributed earnings to unvested restricted stock | $ | 183 | $ | 189 | $ | 571 | $ | 574 | |||||||||
Undistributed earnings to unvested restricted stock | 238 | 212 | 173 | 435 | |||||||||||||
Total earnings allocated to unvested restricted stock | $ | 421 | $ | 401 | $ | 744 | $ | 1,009 | |||||||||
Distributed earnings per common share | $ | 0.34 | $ | 0.34 | $ | 1.03 | $ | 1.03 | |||||||||
Undistributed earnings per common share | 0.44 | 0.39 | 0.31 | 0.78 | |||||||||||||
Total earnings per common share - basic | $ | 0.78 | $ | 0.73 | $ | 1.34 | $ | 1.81 | |||||||||
Distributed earnings per unvested restricted stock share | $ | 0.34 | $ | 0.34 | $ | 1.02 | $ | 1.04 | |||||||||
Undistributed earnings per unvested restricted stock share | 0.43 | 0.37 | 0.31 | 0.78 | |||||||||||||
Total earnings per unvested restricted stock share - basic | $ | 0.77 | $ | 0.71 | $ | 1.33 | $ | 1.82 | |||||||||
For the three months ended September 30, 2013 and 2012, the calculations for basic shares outstanding exclude the weighted average shares owned by the Recognition and Retention Plan (“RRP”) of 642,764 and 624,000, respectively, and are adjusted for the weighted average shares in treasury stock of 2,189,978 and 2,036,132, respectively. For the nine months ended September 30, 2013 and 2012, basic shares outstanding exclude 645,793 and 611,646 shares owned by the RRP, respectively, and are adjusted for 2,249,068 and 1,801,572 shares, respectively, of weighted average shares of treasury stock. | |||||||||||||||||
The effect from the assumed exercise of 402,344 and 834,559 stock options was not included in the computation of diluted earnings per share for three months ended September 30, 2013 and 2012, respectively, because such amounts would have had an antidilutive effect on earnings per common share. For the nine months ended September 30, 2013 and 2012, the effect from the assumed exercise of 678,604 and 703,346 stock options, respectively, was not included in the computation of diluted earnings per share because such amounts would have had an antidilutive effect on earnings per common share. |
Acquisition_and_Disposition_Ac
Acquisition and Disposition Activity | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Acquisition and Disposition Activity | ' | ||||||||||||||||
NOTE 4 –ACQUISITION AND DISPOSITION ACTIVITY | |||||||||||||||||
Acquisitions | |||||||||||||||||
During the third quarter of 2013, the Company announced the signing of a definitive agreement pursuant to which IBERIABANK will acquire certain assets and assume certain liabilities of the Memphis, Tennessee operations of Trust One Bank, a division of Synovus Bank. The transaction is expected to close in the first quarter of 2014 and is subject to customary closing conditions, including receipt of certain regulatory approvals. | |||||||||||||||||
Branch Dispositions | |||||||||||||||||
During the fourth quarter of 2012, the Company announced plans to close four branches during 2013 as part of its ongoing business strategy, which includes a periodic review of its branch network to maximize shareholder return. The Company closed these four branches during the first quarter of 2013. During the second quarter of 2013, the Company announced plans to close or consolidate ten additional branches. As part of these branch closures, the Company incurred various disposal costs during the three and nine months ended September 30, 2013, including personnel termination costs, contract termination costs, and fixed asset disposals. The following table shows the costs the Company incurred that are included in its statements of comprehensive income for the periods indicated. | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Employee termination | $ | (70 | ) | $ | 384 | $ | 299 | $ | 384 | ||||||||
Accelerated depreciation | 352 | 284 | 1,033 | 284 | |||||||||||||
Contract termination | 591 | — | 591 | — | |||||||||||||
Impairment | 323 | 2,743 | 4,941 | 2,743 | |||||||||||||
$ | 1,196 | $ | 3,411 | $ | 6,864 | $ | 3,411 | ||||||||||
For the three months ended September 30, 2013, employee termination costs include an adjustment to record the difference between estimated severance costs at the end of the second quarter of 2013 and severance paid to employees during the third quarter of 2013. The difference is a result of a reduction in calculated severance payments due to employee acceptance of other opportunities. The Company estimates future exit costs, which would include additional employee termination costs, fixed asset disposals, and lease termination costs, will not be material. |
Investment_Securities
Investment Securities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Investment Securities | ' | ||||||||||||||||||||||||
NOTE 5 – INVESTMENT SECURITIES | |||||||||||||||||||||||||
The amortized cost and fair values of investment securities, with gross unrealized gains and losses, consist of the following: | |||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Gross | Gross | Estimated | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Gains | Losses | Value | |||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 407,049 | $ | 1,878 | $ | (7,127 | ) | $ | 401,800 | ||||||||||||||||
Obligations of state and political obligations | 109,509 | 2,967 | (235 | ) | 112,241 | ||||||||||||||||||||
Mortgage-backed securities | 1,449,275 | 14,928 | (15,337 | ) | 1,448,866 | ||||||||||||||||||||
Other securities | 1,460 | 22 | — | 1,482 | |||||||||||||||||||||
Total securities available for sale | $ | 1,967,293 | $ | 19,795 | $ | (22,699 | ) | $ | 1,964,389 | ||||||||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 34,471 | $ | 650 | $ | — | $ | 35,121 | |||||||||||||||||
Obligations of state and political obligations | 84,471 | 1,735 | (1,425 | ) | 84,781 | ||||||||||||||||||||
Mortgage-backed securities | 36,736 | 293 | (1,621 | ) | 35,408 | ||||||||||||||||||||
Total securities held to maturity | $ | 155,678 | $ | 2,678 | $ | (3,046 | ) | $ | 155,310 | ||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Gross | Gross | Estimated | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Gains | Losses | Value | |||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 281,746 | $ | 4,364 | $ | (386 | ) | $ | 285,724 | ||||||||||||||||
Obligations of state and political obligations | 120,680 | 6,573 | (178 | ) | 127,075 | ||||||||||||||||||||
Mortgage-backed securities | 1,303,030 | 29,108 | (1,482 | ) | 1,330,656 | ||||||||||||||||||||
Other securities | 1,460 | 89 | — | 1,549 | |||||||||||||||||||||
Total securities available for sale | $ | 1,706,916 | $ | 40,134 | $ | (2,046 | ) | $ | 1,745,004 | ||||||||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 69,949 | $ | 1,244 | $ | — | $ | 71,193 | |||||||||||||||||
Obligations of state and political obligations | 88,909 | 4,730 | (113 | ) | 93,526 | ||||||||||||||||||||
Mortgage-backed securities | 46,204 | 728 | (153 | ) | 46,779 | ||||||||||||||||||||
Total securities held to maturity | $ | 205,062 | $ | 6,702 | $ | (266 | ) | $ | 211,498 | ||||||||||||||||
Securities with carrying values of $1.4 billion and $1.7 billion were pledged to secure public deposits and other borrowings at September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||
Management evaluates securities for other-than-temporary impairment at least quarterly, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to 1) the length of time and extent to which the estimated fair value has been less than amortized cost, 2) the financial condition and near-term prospects of the issuer, and 3) the intent and ability of the Company to retain the investment for a period of time sufficient to allow for any anticipated recovery in estimated fair value above amortized cost. In analyzing an issuer’s financial condition, management considers whether the securities are issued by the federal government or its agencies and whether downgrades by bond rating agencies have occurred, as well as review of issuer financial statements and industry analysts’ reports. | |||||||||||||||||||||||||
Information pertaining to securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position, is as follows: | |||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
Less Than Twelve Months | Over Twelve Months | Total | |||||||||||||||||||||||
(Dollars in thousands) | Gross | Estimated | Gross | Estimated | Gross | Estimated | |||||||||||||||||||
Unrealized | Fair | Unrealized | Fair | Unrealized | Fair | ||||||||||||||||||||
Losses | Value | Losses | Value | Losses | Value | ||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | (7,127 | ) | $ | 274,195 | $ | — | $ | — | $ | (7,127 | ) | $ | 274,195 | |||||||||||
Obligations of state and political obligations | (10 | ) | 326 | (225 | ) | 1,047 | (235 | ) | 1,373 | ||||||||||||||||
Mortgage-backed securities | (14,096 | ) | 671,684 | (1,241 | ) | 38,600 | (15,337 | ) | 710,284 | ||||||||||||||||
Total securities available for sale | $ | (21,233 | ) | $ | 946,205 | $ | (1,466 | ) | $ | 39,647 | $ | (22,699 | ) | $ | 985,852 | ||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
Obligations of state and political obligations | $ | (1,308 | ) | $ | 28,433 | $ | (117 | ) | $ | 2,080 | $ | (1,425 | ) | $ | 30,513 | ||||||||||
Mortgage-backed securities | (850 | ) | 15,490 | (771 | ) | 9,805 | (1,621 | ) | 25,295 | ||||||||||||||||
Total securities held to maturity | $ | (2,158 | ) | $ | 43,923 | $ | (888 | ) | $ | 11,885 | $ | (3,046 | ) | $ | 55,808 | ||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Less Than Twelve Months | Over Twelve Months | Total | |||||||||||||||||||||||
(Dollars in thousands) | Gross | Estimated | Gross | Estimated | Gross | Estimated | |||||||||||||||||||
Unrealized | Fair | Unrealized | Fair | Unrealized | Fair | ||||||||||||||||||||
Losses | Value | Losses | Value | Losses | Value | ||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | (386 | ) | $ | 59,741 | $ | — | $ | — | $ | (386 | ) | $ | 59,741 | |||||||||||
Obligations of state and political obligations | — | — | (178 | ) | 1,094 | (178 | ) | 1,094 | |||||||||||||||||
Mortgage-backed securities | (1,473 | ) | 180,027 | (9 | ) | 3,919 | (1,482 | ) | 183,946 | ||||||||||||||||
Total securities available for sale | $ | (1,859 | ) | $ | 239,768 | $ | (187 | ) | $ | 5,013 | $ | (2,046 | ) | $ | 244,781 | ||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
Obligations of state and political obligations | $ | (113 | ) | $ | 8,242 | $ | — | $ | — | $ | (113 | ) | $ | 8,242 | |||||||||||
Mortgage-backed securities | (153 | ) | 16,262 | — | — | (153 | ) | 16,262 | |||||||||||||||||
Total securities held to maturity | $ | (266 | ) | $ | 24,504 | $ | — | $ | — | $ | (266 | ) | $ | 24,504 | |||||||||||
The Company assessed the nature of the losses in its portfolio as of September 30, 2013 and December, 31, 2012 to determine if there are losses that should be deemed other-than-temporary. In its analysis of these securities, management considered numerous factors to determine whether there were instances where the amortized cost basis of the debt securities would not be fully recoverable, including, but not limited to: | |||||||||||||||||||||||||
• | The length of time and extent to which the estimated fair value of the securities was less than their amortized cost, | ||||||||||||||||||||||||
• | Whether adverse conditions were present in the operations, geographic area, or industry of the issuer, | ||||||||||||||||||||||||
• | The payment structure of the security, including scheduled interest and principal payments, including the issuer’s failures to make scheduled payments, if any, and the likelihood of failure to make scheduled payments in the future, | ||||||||||||||||||||||||
• | Changes to the rating of the security by a rating agency, and | ||||||||||||||||||||||||
• | Subsequent recoveries or additional declines in fair value after the balance sheet date. | ||||||||||||||||||||||||
Management believes it has considered these factors, as well as all relevant information available, when determining the expected future cash flows of the securities in question. Except for the bond discussed below, in each instance, management has determined the cost basis of the securities would be fully recoverable. Management also has the intent and ability to hold debt securities until their maturity or anticipated recovery if the security is classified as available for sale. In addition, management does not believe the Company will be required to sell debt securities before the anticipated recovery of the amortized cost basis of the security. | |||||||||||||||||||||||||
At September 30, 2013, 151 debt securities had unrealized losses of 2.41% of the securities’ amortized cost basis and 1.21% of the Company’s total amortized cost basis. The unrealized losses for each of the 151 securities relate to market interest rate changes. 13 of the 151 securities have been in a continuous loss position for over twelve months at September 30, 2013. These 13 securities had an aggregate amortized cost basis and unrealized loss of $53,886,000 and $2,354,000, respectively. Ten of the 13 securities were issued by either the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), or the Government National Mortgage Association (Ginnie Mae). The Fannie Mae, Freddie Mac, and Ginnie Mae securities are rated AA+ by S&P and Aaa by Moodys. Three of the securities in a continuous loss position for over twelve months were issued by political subdivisions. One of the bond issuers has a credit rating of A+ by S&P. In addition, the bond is insured by a Aaa rated insurer and as a result, the Company concluded that an other-than-temporary impairment charge was not required at September 30, 2013. The second bond in a continuous unrealized loss position for over twelve months carries an issue rating of Aa2 by Moody’s, and is also insured by the same Aaa rated insurer, and as a result, the Company concluded that an other-than-temporary impairment charge was not required at September 30, 2013. The remaining security in a continuous unrealized loss position for over twelve months was issued by a political subdivision and is discussed in further detail below. | |||||||||||||||||||||||||
At December 31, 2012, 49 debt securities had unrealized losses of 0.85% of the securities’ amortized cost basis and 0.12% of the Company’s total amortized cost basis. The unrealized losses for each of the 49 securities relate to market interest rate changes. Three of the 49 securities had been in a continuous loss position for over twelve months at December 31, 2012. These three securities had an aggregate amortized cost basis and unrealized loss of $5,200,000 and $187,000, respectively. Two of the three securities were issued by either the Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac), or the Government National Mortgage Association (Ginnie Mae). The Fannie Mae, Freddie Mac, and Ginnie Mae securities are rated AA+ by S&P and Aaa by Moodys. One of the securities in a continuous unrealized loss position for over twelve months was issued by a political subdivision and is discussed in further detail below. | |||||||||||||||||||||||||
Prior to 2012, management assessed the operating environment of a bond issuer as adverse and concluded that the Company had one unrated revenue municipal bond that warranted an other-than-temporary impairment charge. The specific impairment was related to the loss of the contracted revenue source required for bond repayment. The Company determined the impairment charge using observable market data for similar assets, including third party valuation of the security, as well as information from unobservable inputs, including its best estimate of the recoverability of the amortized cost of the security as outlined above. Changes to the unobservable inputs used by the Company would have resulted in a higher or lower impairment charge, but the unobservable inputs were not highly sensitive and would not result in a material difference in the impairment charge recorded for the year ended December 31, 2011. The Company recorded total impairment of 50% of the par value of the bond and provided a fair value of the bonds that was consistent with current market pricing. During the first nine months of 2013, the Company continued to analyze the operating environment of the bond as it did in 2012 and 2011 and noted no further deterioration in the operating environment of the bond issuer. | |||||||||||||||||||||||||
During the nine months ended September 30, 2013 and 2012, there was no activity related to credit losses on the other-than-temporarily impaired investment security where a portion of the unrealized loss was recognized in other comprehensive income. | |||||||||||||||||||||||||
As a result of the Company’s analysis, no other declines in the estimated fair value of the Company’s investment securities were deemed to be other-than-temporary at September 30, 2013 or December 31, 2012. | |||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities by maturity at September 30, 2013 are shown in the following table. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. Accordingly, actual maturities may differ from contractual maturities. | |||||||||||||||||||||||||
Securities Available for Sale | Securities Held to Maturity | ||||||||||||||||||||||||
(Dollars in thousands) | Weighted | Amortized | Estimated | Weighted | Amortized | Estimated | |||||||||||||||||||
Average | Cost | Fair | Average | Cost | Fair | ||||||||||||||||||||
Yield | Value | Yield | Value | ||||||||||||||||||||||
Within one year or less | 1.99 | % | $ | 16,230 | $ | 16,430 | 1.85 | % | $ | 24,541 | $ | 24,815 | |||||||||||||
One through five years | 1.38 | 220,047 | 220,114 | 3.01 | 18,071 | 18,685 | |||||||||||||||||||
After five through ten years | 1.98 | 596,282 | 597,600 | 2.6 | 24,599 | 25,040 | |||||||||||||||||||
Over ten years | 1.92 | 1,134,734 | 1,130,245 | 2.92 | 88,467 | 86,770 | |||||||||||||||||||
1.88 | % | $ | 1,967,293 | $ | 1,964,389 | 2.71 | % | $ | 155,678 | $ | 155,310 | ||||||||||||||
The following is a summary of realized gains and losses from the sale of securities classified as available for sale. Gains or losses on securities sold are recorded on the trade date, using the specific identification method. | |||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | ||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Realized gains | $ | — | $ | 41 | $ | 2,369 | $ | 3,758 | |||||||||||||||||
Realized losses | (3 | ) | — | (110 | ) | (15 | ) | ||||||||||||||||||
$ | (3 | ) | $ | 41 | $ | 2,259 | $ | 3,743 | |||||||||||||||||
In addition to the gains above, the Company realized certain immaterial gains on calls of held to maturity securities. | |||||||||||||||||||||||||
Other Equity Securities | |||||||||||||||||||||||||
The Company included the following securities in “Other assets” on the consolidated balance sheets: | |||||||||||||||||||||||||
(Dollars in thousands) | September 30 | December 31 | |||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Federal Home Loan Bank (FHLB) stock | $ | 12,759 | $ | 16,860 | |||||||||||||||||||||
Federal Reserve Bank (FRB) stock | 28,098 | 28,155 | |||||||||||||||||||||||
Other investments | 1,306 | 1,201 | |||||||||||||||||||||||
$ | 42,163 | $ | 46,216 | ||||||||||||||||||||||
Loans_Receivable
Loans Receivable | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||
Loans Receivable | ' | ||||||||||||||||||||||||||||||||
NOTE 6 – LOANS RECEIVABLE | |||||||||||||||||||||||||||||||||
Loans receivable consist of the following, segregated into non-covered and covered loans, for the periods indicated: | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | Non-covered loans | Covered loans | Total | ||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 3,320,333 | $ | 459,506 | $ | 3,779,839 | |||||||||||||||||||||||||||
Business | 2,643,822 | 40,422 | 2,684,244 | ||||||||||||||||||||||||||||||
5,964,155 | 499,928 | 6,464,083 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 402,354 | 153,515 | 555,869 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | 7,586 | — | 7,586 | ||||||||||||||||||||||||||||||
409,940 | 153,515 | 563,455 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 1,131,870 | 149,144 | 1,281,014 | ||||||||||||||||||||||||||||||
Indirect automobile | 369,755 | — | 369,755 | ||||||||||||||||||||||||||||||
Other | 360,315 | 4,415 | 364,730 | ||||||||||||||||||||||||||||||
1,861,940 | 153,559 | 2,015,499 | |||||||||||||||||||||||||||||||
$ | 8,236,035 | $ | 807,002 | $ | 9,043,037 | ||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | Non-covered loans | Covered loans | Total | ||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 2,990,700 | $ | 640,843 | $ | 3,631,543 | |||||||||||||||||||||||||||
Business | 2,450,667 | 87,051 | 2,537,718 | ||||||||||||||||||||||||||||||
5,441,367 | 727,894 | 6,169,261 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 284,019 | 187,164 | 471,183 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | 6,021 | — | 6,021 | ||||||||||||||||||||||||||||||
290,040 | 187,164 | 477,204 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 1,076,913 | 174,212 | 1,251,125 | ||||||||||||||||||||||||||||||
Indirect automobile | 327,985 | — | 327,985 | ||||||||||||||||||||||||||||||
Other | 269,519 | 3,486 | 273,005 | ||||||||||||||||||||||||||||||
1,674,417 | 177,698 | 1,852,115 | |||||||||||||||||||||||||||||||
$ | 7,405,824 | $ | 1,092,756 | $ | 8,498,580 | ||||||||||||||||||||||||||||
In 2009, the Company acquired substantially all of the assets and liabilities of CapitalSouth Bank (“CSB”), and certain assets and assumed certain deposit and other liabilities of Orion Bank (“Orion”) and Century Bank (“Century”). In 2010, the Company acquired certain assets and assumed certain deposit and other liabilities of Sterling Bank (“Sterling”). The loans and foreclosed real estate that were acquired in these transactions are covered by loss sharing agreements between the FDIC and IBERIABANK, which afford IBERIABANK loss protection. Refer to Note 8 for additional information regarding the Company’s loss sharing agreements. | |||||||||||||||||||||||||||||||||
Because of the loss protection provided by the FDIC, the risks of the CSB, Orion, Century, and Sterling loans and foreclosed real estate are significantly different from those assets not covered under the loss share agreements. Accordingly, the Company presents loans subject to the loss share agreements as “covered loans” in the information below and loans that are not subject to the loss share agreements as “non-covered loans.” | |||||||||||||||||||||||||||||||||
Deferred loan origination fees were $16,445,000 and $14,040,000 and deferred loan expenses were $7,154,000 and $5,270,000 at September 30, 2013 and December 31, 2012, respectively. In addition to loans issued in the normal course of business, the Company considers overdrafts on customer deposit accounts to be loans and reclassifies these overdrafts as loans in its consolidated balance sheets. At September 30, 2013 and December 31, 2012, overdrafts of $2,319,000 and $3,231,000, respectively, have been reclassified to loans receivable. | |||||||||||||||||||||||||||||||||
Loans with carrying values of $2.2 billion and $1.5 billion were pledged to secure public deposits and other borrowings at September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||||||||||
Non-covered Loans | |||||||||||||||||||||||||||||||||
The following tables provide an analysis of the aging of non-covered loans as of September 30, 2013 and December 31, 2012. Because of the difference in accounting for acquired loans, the tables below further segregate the Company’s non-covered loans receivable between loans acquired from Florida Gulf in 2012, as well as those acquired in 2011, and loans originated by the Company. For purposes of the following tables, subprime mortgage loans are defined as the Company’s mortgage loans that have FICO scores that are less than 620 at the time of origination or were purchased outside of a business combination. | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||
Past Due (1) | Current | Total Non-covered | Recorded | ||||||||||||||||||||||||||||||
Loans, Net of | Investment > 90 days | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 days | 60-89 days | > 90 days | Total | Unearned Income | and Accruing | |||||||||||||||||||||||||||
Commercial real estate construction | $ | — | $ | — | $ | 2,430 | $ | 2,430 | $ | 380,665 | $ | 383,095 | $ | — | |||||||||||||||||||
Commercial real estate - other | 1,933 | — | 9,639 | 11,572 | 2,556,798 | 2,568,370 | 151 | ||||||||||||||||||||||||||
Commercial business | 1,743 | 6 | 14,591 | 16,340 | 2,573,065 | 2,589,405 | — | ||||||||||||||||||||||||||
Residential prime | 517 | 2,297 | 9,326 | 12,140 | 261,615 | 273,755 | 1,267 | ||||||||||||||||||||||||||
Residential subprime | — | — | 442 | 442 | 115,715 | 116,157 | — | ||||||||||||||||||||||||||
Home equity | 1,745 | 577 | 7,092 | 9,414 | 1,063,257 | 1,072,671 | — | ||||||||||||||||||||||||||
Indirect automobile | 1,719 | 439 | 1,056 | 3,214 | 364,094 | 367,308 | — | ||||||||||||||||||||||||||
Credit card | 184 | 102 | 425 | 711 | 59,225 | 59,936 | — | ||||||||||||||||||||||||||
Other | 684 | 460 | 255 | 1,399 | 287,477 | 288,876 | — | ||||||||||||||||||||||||||
$ | 8,525 | $ | 3,881 | $ | 45,256 | $ | 57,662 | $ | 7,661,911 | $ | 7,719,573 | $ | 1,418 | ||||||||||||||||||||
(1) | Past due loans include loans on nonaccrual status as of the period indicated. Nonaccrual loans are presented separately in the “Nonaccrual Loans” section below. | ||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||
Past Due(1) | Total Non-covered | Recorded | |||||||||||||||||||||||||||||||
Loans, Net of | Investment > 90 days | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 days | 60-89 days | > 90 days | Total | Current | Unearned Income | and Accruing | ||||||||||||||||||||||||||
Commercial real estate construction | $ | 60 | $ | — | $ | 5,479 | $ | 5,539 | $ | 288,137 | $ | 293,676 | $ | — | |||||||||||||||||||
Commercial real estate - other | 3,590 | — | 23,559 | 27,149 | 2,224,495 | 2,251,644 | 83 | ||||||||||||||||||||||||||
Commercial business | 1,430 | 13 | 3,687 | 5,130 | 2,362,304 | 2,367,434 | 329 | ||||||||||||||||||||||||||
Residential prime | 662 | 1,156 | 9,168 | 10,986 | 185,843 | 196,829 | 801 | ||||||||||||||||||||||||||
Residential subprime | — | — | — | — | 60,454 | 60,454 | — | ||||||||||||||||||||||||||
Home equity | 2,283 | 796 | 5,793 | 8,872 | 991,766 | 1,000,638 | 158 | ||||||||||||||||||||||||||
Indirect automobile | 1,624 | 326 | 868 | 2,818 | 320,148 | 322,966 | — | ||||||||||||||||||||||||||
Credit card | 130 | 51 | 424 | 605 | 51,117 | 51,722 | — | ||||||||||||||||||||||||||
Other | 566 | 105 | 310 | 981 | 201,161 | 202,142 | — | ||||||||||||||||||||||||||
$ | 10,345 | $ | 2,447 | $ | 49,288 | $ | 62,080 | $ | 6,685,425 | $ | 6,747,505 | $ | 1,371 | ||||||||||||||||||||
(1) | Past due loans include loans on nonaccrual status as of the period indicated. Nonaccrual loans are presented separately in the “Nonaccrual Loans” section below. | ||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||
Past Due (1) | Total Non-covered | Recorded | |||||||||||||||||||||||||||||||
Loans, Net of | Investment > 90 days | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 days | 60-89 days | > 90 days | Total | Current | Discount | Unearned Income | and Accruing | |||||||||||||||||||||||||
Commercial real estate construction | $ | 97 | $ | — | $ | 3,457 | $ | 3,554 | $ | 15,020 | $ | (1,928 | ) | $ | 16,646 | $ | 3,457 | ||||||||||||||||
Commercial real estate - other | 2,240 | 438 | 33,484 | 36,162 | 367,085 | (51,025 | ) | 352,222 | 33,484 | ||||||||||||||||||||||||
Commercial business | 444 | 246 | 1,880 | 2,570 | 59,949 | (8,102 | ) | 54,417 | 1,880 | ||||||||||||||||||||||||
Residential prime | — | — | 226 | 226 | 20,388 | (586 | ) | 20,028 | 226 | ||||||||||||||||||||||||
Home equity | 1,567 | 302 | 4,681 | 6,550 | 56,842 | (4,193 | ) | 59,199 | 4,681 | ||||||||||||||||||||||||
Indirect automobile | 86 | 1 | 102 | 189 | 2,258 | — | 2,447 | 102 | |||||||||||||||||||||||||
Other | 162 | 185 | 948 | 1,295 | 13,859 | (3,651 | ) | 11,503 | 948 | ||||||||||||||||||||||||
$ | 4,596 | $ | 1,172 | $ | 44,778 | $ | 50,546 | $ | 535,401 | $ | (69,485 | ) | $ | 516,462 | $ | 44,778 | |||||||||||||||||
(1) | Past due information includes loans acquired from OMNI, Cameron and Florida Gulf at the gross loan balance, prior to application of discounts. | ||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||
Past Due (1) | Total Non-covered | Recorded | |||||||||||||||||||||||||||||||
Loans, Net of | Investment > 90 days | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 days | 60-89 days | > 90 days | Total | Current | Discount | Unearned Income | and Accruing | |||||||||||||||||||||||||
Commercial real estate construction | $ | 369 | $ | — | $ | 4,067 | $ | 4,436 | $ | 29,098 | $ | (3,968 | ) | $ | 29,566 | $ | 4,067 | ||||||||||||||||
Commercial real estate - other | 5,971 | 1,572 | 38,987 | 46,530 | 426,339 | (57,055 | ) | 415,814 | 38,987 | ||||||||||||||||||||||||
Commercial business | 1,410 | 524 | 3,953 | 5,887 | 89,490 | (12,144 | ) | 83,233 | 3,953 | ||||||||||||||||||||||||
Residential prime | — | — | 779 | 779 | 30,663 | 1,315 | 32,757 | 779 | |||||||||||||||||||||||||
Home equity | 2,379 | 382 | 4,354 | 7,115 | 73,658 | (4,498 | ) | 76,275 | 4,354 | ||||||||||||||||||||||||
Indirect automobile | 171 | 4 | 146 | 321 | 4,698 | — | 5,019 | 146 | |||||||||||||||||||||||||
Other | 202 | 17 | 495 | 714 | 21,746 | (6,805 | ) | 15,655 | 495 | ||||||||||||||||||||||||
$ | 10,502 | $ | 2,499 | $ | 52,781 | $ | 65,782 | $ | 675,692 | $ | (83,155 | ) | $ | 658,319 | $ | 52,781 | |||||||||||||||||
(1) | Past due information includes loans acquired from OMNI, Cameron and Florida Gulf at the gross loan balance, prior to application of discounts. | ||||||||||||||||||||||||||||||||
Nonaccrual Loans | |||||||||||||||||||||||||||||||||
The following table provides the recorded investment of non-covered loans on nonaccrual status at September 30, 2013 and December 31, 2012. Nonaccrual loans in the table exclude acquired loans. | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 2,430 | $ | 5,479 | |||||||||||||||||||||||||||||
Commercial real estate - other | 9,488 | 23,475 | |||||||||||||||||||||||||||||||
Commercial business | 14,591 | 3,358 | |||||||||||||||||||||||||||||||
Residential prime | 8,501 | 8,367 | |||||||||||||||||||||||||||||||
Home equity | 7,092 | 5,635 | |||||||||||||||||||||||||||||||
Indirect automobile | 1,056 | 868 | |||||||||||||||||||||||||||||||
Credit card | 425 | 424 | |||||||||||||||||||||||||||||||
Other | 255 | 310 | |||||||||||||||||||||||||||||||
$ | 43,838 | $ | 47,916 | ||||||||||||||||||||||||||||||
Covered Loans | |||||||||||||||||||||||||||||||||
The carrying amount of the acquired covered loans at September 30, 2013 and December 31, 2012 consisted of loans determined to be impaired at the acquisition date, which are accounted for in accordance with ASC Topic 310-30, and loans that were considered to be performing at the acquisition date, accounted for by analogy to ASC Topic 310-30, as detailed in the following tables. | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | Acquired | Acquired | Total | ||||||||||||||||||||||||||||||
Impaired | Performing | Covered | |||||||||||||||||||||||||||||||
Loans | Loans | Loans | |||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 23,751 | $ | 435,755 | $ | 459,506 | |||||||||||||||||||||||||||
Business | — | 40,422 | 40,422 | ||||||||||||||||||||||||||||||
23,751 | 476,177 | 499,928 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 28,333 | 125,182 | 153,515 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | — | — | — | ||||||||||||||||||||||||||||||
28,333 | 125,182 | 153,515 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 25,195 | 123,949 | 149,144 | ||||||||||||||||||||||||||||||
Indirect automobile | — | — | — | ||||||||||||||||||||||||||||||
Other | 1,205 | 3,210 | 4,415 | ||||||||||||||||||||||||||||||
26,400 | 127,159 | 153,559 | |||||||||||||||||||||||||||||||
$ | 78,484 | $ | 728,518 | $ | 807,002 | ||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | Acquired | Acquired | Total | ||||||||||||||||||||||||||||||
Impaired | Performing | Covered | |||||||||||||||||||||||||||||||
Loans | Loans | Loans | |||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 167,742 | $ | 473,101 | $ | 640,843 | |||||||||||||||||||||||||||
Business | 2,757 | 84,294 | 87,051 | ||||||||||||||||||||||||||||||
170,499 | 557,395 | 727,894 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 20,232 | 166,932 | 187,164 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | — | — | — | ||||||||||||||||||||||||||||||
20,232 | 166,932 | 187,164 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 22,094 | 152,118 | 174,212 | ||||||||||||||||||||||||||||||
Indirect automobile | — | — | — | ||||||||||||||||||||||||||||||
Other | 820 | 2,666 | 3,486 | ||||||||||||||||||||||||||||||
22,914 | 154,784 | 177,698 | |||||||||||||||||||||||||||||||
$ | 213,645 | $ | 879,111 | $ | 1,092,756 | ||||||||||||||||||||||||||||
ASC 310-30 loans | |||||||||||||||||||||||||||||||||
The Company acquired loans (both covered and non-covered) through previous acquisitions which are subject to ASC Topic 310-30. | |||||||||||||||||||||||||||||||||
The following is a summary of changes in the accretable yields of acquired loans during the nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Acquired | Acquired | Total | Acquired | Acquired | Total | |||||||||||||||||||||||||||
Impaired | Performing | Acquired | Impaired | Performing | Acquired | ||||||||||||||||||||||||||||
Loans | Loans | Loans | Loans | Loans | Loans | ||||||||||||||||||||||||||||
Balance at beginning of period | $ | 76,623 | $ | 279,770 | $ | 356,393 | $ | 83,834 | $ | 386,977 | $ | 470,811 | |||||||||||||||||||||
Transfers from nonaccretable difference to accretable yield | 6,148 | 34,480 | 40,628 | 1,062 | 4,245 | 5,307 | |||||||||||||||||||||||||||
Accretion | (13,519 | ) | (119,193 | ) | (132,712 | ) | (21,924 | ) | (165,247 | ) | (187,171 | ) | |||||||||||||||||||||
Changes in expected cash flows not affecting nonaccretable differences (1) | 10,561 | 81,173 | 91,734 | 10,964 | 46,197 | 57,161 | |||||||||||||||||||||||||||
Balance at end of period | $ | 79,813 | $ | 276,230 | $ | 356,043 | $ | 73,936 | $ | 272,172 | $ | 346,108 | |||||||||||||||||||||
-1 | Includes changes in cash flows expected to be collected due to the impact of changes in actual or expected timing of liquidation events, loan modifications, changes in interest rates and changes in prepayment assumptions. | ||||||||||||||||||||||||||||||||
Accretable yield during the first nine months of 2013 increased primarily as a result of changes in expected cash flows not impacting the nonaccretable difference, offset by an increase in accretion recognized during the period. Accretable yield during the first nine months of 2012 decreased primarily as a result of the accretion recognized. | |||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||
Information about the Company’s TDRs at September 30, 2013 and 2012 is presented in the following tables. The Company excludes as TDRs modifications of loans that are accounted for within a pool under ASC Topic 310-30, which include the covered loans above, as well as the loans acquired in the OMNI and Cameron acquisitions completed during 2011 and certain loans acquired from Florida Gulf in 2012. Accordingly, such modifications do not result in the removal of those loans from the pool, even if the modification of those loans would otherwise be considered a TDR. As a result, all covered loans and loans acquired from OMNI and Cameron, and certain Florida Gulf loans that would otherwise meet the criteria for classification as a troubled debt restructuring are excluded from the tables below. | |||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||||
Accruing Loans | Accruing Loans | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | Past Due | Nonaccrual TDRs | Total TDRs | Current | Past Due | Nonaccrual TDRs | Total TDRs | |||||||||||||||||||||||||
> 30 days | > 30 days | ||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Commercial real estate - other | 411 | — | 5,601 | 6,012 | 370 | 264 | 18,985 | 19,619 | |||||||||||||||||||||||||
Commercial business | 1,056 | — | 12,610 | 13,666 | 19 | — | 1,884 | 1,903 | |||||||||||||||||||||||||
Residential prime | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Residential subprime | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Home equity | — | — | 263 | 263 | 94 | — | 224 | 318 | |||||||||||||||||||||||||
Indirect automobile | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
$ | 1,467 | $ | — | $ | 18,474 | $ | 19,941 | $ | 483 | $ | 264 | $ | 21,093 | $ | 21,840 | ||||||||||||||||||
At September 30, 2013, TDRs totaling $19,941,000 included $11,210,000 of TDRs that occurred during the current nine-month period through modification of the original loan terms. Total TDRs of $21,840,000 at September 30, 2012 included $4,391,000 of TDRs that occurred during the nine-month period ended September 30, 2012. The following table provides information on how the TDRs were modified during the periods indicated. | |||||||||||||||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||||||||||
September 30 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||||
Extended maturities | $ | — | $ | 412 | |||||||||||||||||||||||||||||
Interest rate adjustment | — | 481 | |||||||||||||||||||||||||||||||
Maturity and interest rate adjustment | — | 2,389 | |||||||||||||||||||||||||||||||
Movement to or extension of interest-rate only payments | — | 939 | |||||||||||||||||||||||||||||||
Forbearance | 11,210 | 170 | |||||||||||||||||||||||||||||||
$ | 11,210 | $ | 4,391 | ||||||||||||||||||||||||||||||
Information about the Company’s non-covered TDRs occurring in these periods is presented in the following table. | |||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||||
(In thousands, except number of loans) | Number of | Pre-modification | Post-modification | Number of | Pre-modification | Post-modification | |||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | Loans | Outstanding | Outstanding | ||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||
Investment | Investment (1) | Investment | Investment (1) | ||||||||||||||||||||||||||||||
Commercial real estate | 5 | $ | 12,507 | $ | 12,329 | 14 | $ | 4,478 | $ | 3,707 | |||||||||||||||||||||||
Commercial business | — | — | — | 1 | 27 | — | |||||||||||||||||||||||||||
Residential prime | — | — | — | — | — | — | |||||||||||||||||||||||||||
Home Equity | — | — | — | 1 | 94 | 51 | |||||||||||||||||||||||||||
Indirect automobile | — | — | — | — | — | — | |||||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | |||||||||||||||||||||||||||
Other | — | — | — | 1 | — | — | |||||||||||||||||||||||||||
5 | $ | 12,507 | $ | 12,329 | 17 | $ | 4,599 | $ | 3,758 | ||||||||||||||||||||||||
-1 | Recorded investment includes any allowance for credit losses recorded on the TDRs at the dates indicated. | ||||||||||||||||||||||||||||||||
Information detailing non-covered TDRs that subsequently defaulted during the previous twelve months is presented in the following table. The Company has defined a default as any loan with a loan payment that is currently past due greater than 30 days, or was past due greater than 30 days at any point during the previous twelve months, or since the date of modification, whichever is shorter. | |||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||||
(In thousands, except number of loans) | Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||||||
Loans | Investment | Loans | Investment | ||||||||||||||||||||||||||||||
Commercial real estate | 45 | $ | 6,012 | 46 | $ | 19,048 | |||||||||||||||||||||||||||
Commercial business | 13 | 12,370 | 8 | 1,883 | |||||||||||||||||||||||||||||
Residential prime | — | — | — | — | |||||||||||||||||||||||||||||
Home Equity | 1 | 47 | 2 | 275 | |||||||||||||||||||||||||||||
Indirect automobile | — | — | — | — | |||||||||||||||||||||||||||||
Credit card | — | — | — | — | |||||||||||||||||||||||||||||
Other | 1 | — | 1 | — | |||||||||||||||||||||||||||||
60 | $ | 18,429 | 57 | $ | 21,206 | ||||||||||||||||||||||||||||
Allowance_for_Credit_Losses_an
Allowance for Credit Losses and Credit Quality | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses and Credit Quality | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
NOTE 7 – ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY | |||||||||||||||||||||||||||||||||||||||||||||||||
Change in Methodology | |||||||||||||||||||||||||||||||||||||||||||||||||
During the nine-month period ended September 30, 2013, the Company modified its methodology for estimating its allowance for credit losses on its non-covered, non-acquired loan portfolio to incorporate practices, processes, and methodologies consistent with the guidance provided in the Office of the Comptroller of Currency’s (“OCC”) inter-agency policy statement 2006 SR 06-17. The methodology was modified to segregate the reserve for unfunded lending commitments (“RULC”), previously included in the Company’s allowance for credit losses, and to enhance the previous methodology around loss migration. | |||||||||||||||||||||||||||||||||||||||||||||||||
As part of the modification, the Company’s calculation of its allowance for credit losses incorporates a new loss migration model designed by the Company to improve its estimates of credit losses by: | |||||||||||||||||||||||||||||||||||||||||||||||||
• | Providing a greater degree of segmentation of the Company’s non-covered, non-acquired loan portfolio within its existing homogeneous pools with distinct risk characteristics; | ||||||||||||||||||||||||||||||||||||||||||||||||
• | Improving the application of the Company’s specific historical loss rates to effectively generate estimated incurred loss rates for these various pools of the loan portfolio; and | ||||||||||||||||||||||||||||||||||||||||||||||||
• | Facilitating future loan portfolio stress testing. | ||||||||||||||||||||||||||||||||||||||||||||||||
The following changes were made from the Company’s previous methodology utilized through the three months ended March 31, 2013: | |||||||||||||||||||||||||||||||||||||||||||||||||
• | Segregation of the RULC noted above; | ||||||||||||||||||||||||||||||||||||||||||||||||
• | Creation of a transition matrix-based model that calculates current incurred loss estimates derived from Company-specific history of risk rating changes and net charge-offs across multiple loan pools in its portfolio; and | ||||||||||||||||||||||||||||||||||||||||||||||||
• | Elimination of the use of published available expected default frequencies (“EDFs”) adjusted for the Company’s experience in estimating losses in the Company’s commercial real estate and business loan portfolios. | ||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the effect of the change in methodology on the Company’s unaudited consolidated financial statements as of September 30, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current Methodology | Previous Methodolgy | Difference | Per Share Difference | |||||||||||||||||||||||||||||||||||||||||||||
Selected Data | |||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | $ | 64,165 | $ | 73,992 | $ | (9,827 | ) | ||||||||||||||||||||||||||||||||||||||||||
Reserve for unfunded lending commitments | 11,959 | — | 11,959 | ||||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | $ | 76,124 | $ | 73,992 | $ | 2,132 | |||||||||||||||||||||||||||||||||||||||||||
(Reversal of)Provision for loan losses | $ | 2,884 | $ | 2,883 | $ | 1 | $ | (0.00 | ) | ||||||||||||||||||||||||||||||||||||||||
Provision for unfunded lending commitments | 2,131 | — | 2,131 | 0.05 | |||||||||||||||||||||||||||||||||||||||||||||
Total provision for credit losses | $ | 5,015 | $ | 2,883 | $ | 2,132 | $ | 0.05 | |||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses Activity | |||||||||||||||||||||||||||||||||||||||||||||||||
A summary of changes in the allowance for credit losses for the covered loan and non-covered loan portfolios is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Excluding Acquired Loans | Acquired Loans | Covered Loans | Total | |||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 74,211 | $ | 8,816 | $ | 168,576 | $ | 251,603 | |||||||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses before benefit attributable to FDIC loss share agreements | 2,884 | (2,464 | ) | (58,540 | ) | (58,120 | ) | ||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | 58,565 | 58,565 | |||||||||||||||||||||||||||||||||||||||||||||
Net (reversal of) provision for loan losses | 2,884 | (2,464 | ) | 25 | 445 | ||||||||||||||||||||||||||||||||||||||||||||
Decrease in FDIC loss share receivable | — | — | (58,565 | ) | (58,565 | ) | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | (1,013 | ) | (29,302 | ) | (30,315 | ) | ||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to the RULC | (9,828 | ) | — | — | (9,828 | ) | |||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (7,455 | ) | (10 | ) | (1,683 | ) | (9,148 | ) | |||||||||||||||||||||||||||||||||||||||||
Recoveries | 4,353 | — | — | 4,353 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 64,165 | $ | 5,329 | $ | 79,051 | $ | 148,545 | |||||||||||||||||||||||||||||||||||||||||
Reserve for unfunded lending commitments | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||
Transfer of balance from the allowance for loan losses | 9,828 | — | — | 9,828 | |||||||||||||||||||||||||||||||||||||||||||||
Provision for unfunded lending commitments | 2,131 | — | — | 2,131 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 11,959 | $ | — | $ | — | $ | 11,959 | |||||||||||||||||||||||||||||||||||||||||
September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
Excluding Acquired Loans | Acquired Loans | Covered Loans | Total | ||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 74,861 | $ | — | $ | 118,900 | $ | 193,761 | |||||||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses before benefit attributable to FDIC loss share agreements | 6,518 | 5,805 | 37,268 | 49,591 | |||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | (33,786 | ) | (33,786 | ) | |||||||||||||||||||||||||||||||||||||||||||
Net (reversal of) provision for loan losses | 6,518 | 5,805 | 3,482 | 15,805 | |||||||||||||||||||||||||||||||||||||||||||||
Increase in FDIC loss share receivable | — | — | 33,786 | 33,786 | |||||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | (408 | ) | (23,769 | ) | (24,177 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (6,818 | ) | (179 | ) | (13,283 | ) | (20,280 | ) | |||||||||||||||||||||||||||||||||||||||||
Recoveries | 2,455 | 18 | 19 | 2,492 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 77,016 | $ | 5,236 | $ | 119,135 | $ | 201,387 | |||||||||||||||||||||||||||||||||||||||||
A summary of changes in the allowance for credit losses for non-covered loans, by loan portfolio type, is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Commercial | Commercial | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
real estate | business | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 38,264 | $ | 28,721 | $ | 2,125 | $ | 13,917 | $ | — | $ | 83,027 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | (6,926 | ) | (582 | ) | 1,048 | 6,880 | — | 420 | |||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (279 | ) | (81 | ) | (646 | ) | (7 | ) | — | (1,013 | ) | ||||||||||||||||||||||||||||||||||||||
Transfer of balance to the RULC | (2,939 | ) | (3,497 | ) | (40 | ) | (3,352 | ) | — | (9,828 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (1,966 | ) | (531 | ) | (481 | ) | (4,487 | ) | — | (7,465 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 1,498 | 354 | 698 | 1,803 | — | 4,353 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 27,652 | $ | 24,384 | $ | 2,704 | $ | 14,754 | — | $ | 69,494 | ||||||||||||||||||||||||||||||||||||||
Reserve for unfunded commitments | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Transfer of balance from the allowance for loan losses | 2,939 | 3,497 | 40 | 3,352 | — | 9,828 | |||||||||||||||||||||||||||||||||||||||||||
Provision for unfunded commitments | 1,207 | 610 | 38 | 276 | — | 2,131 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 4,146 | $ | 4,107 | $ | 78 | $ | 3,628 | $ | — | $ | 11,959 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | 8 | $ | 801 | $ | 283 | $ | — | $ | — | $ | 1,092 | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 27,644 | 23,583 | 2,421 | 14,754 | — | 68,402 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 3,320,333 | $ | 2,643,822 | $ | 409,940 | $ | 1,861,940 | $ | — | $ | 8,236,035 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | 9,529 | 14,548 | 1,407 | 263 | — | 25,747 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 3,310,804 | 2,629,274 | 408,533 | 1,861,677 | — | 8,210,288 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 16,287 | 45 | 120 | 1,815 | — | 18,267 | |||||||||||||||||||||||||||||||||||||||||||
September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Commercial | Commercial | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
real estate | business | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 35,604 | $ | 25,705 | $ | 897 | $ | 12,655 | $ | — | $ | 74,861 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 4,199 | 3,851 | 1,344 | 2,929 | — | 12,323 | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (62 | ) | — | (337 | ) | (9 | ) | — | (408 | ) | |||||||||||||||||||||||||||||||||||||||
Loans charged off | (1,195 | ) | (769 | ) | (759 | ) | (4,274 | ) | — | (6,997 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 790 | 80 | 30 | 1,573 | — | 2,473 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 39,336 | $ | 28,867 | $ | 1,175 | $ | 12,874 | $ | — | $ | 82,252 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | 1,173 | $ | 162 | $ | 163 | $ | 43 | $ | — | $ | 1,541 | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 38,163 | 28,705 | 1,012 | 12,831 | — | 80,711 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 2,879,836 | $ | 2,357,303 | $ | 266,069 | $ | 1,587,488 | $ | — | $ | 7,090,696 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | 26,353 | 1,888 | 1,703 | 318 | — | 30,262 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 2,853,483 | 2,355,415 | 264,366 | 1,587,170 | — | 7,060,434 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 60,360 | 3,675 | 430 | 5,334 | — | 69,799 | |||||||||||||||||||||||||||||||||||||||||||
A summary of changes in the allowance for credit losses for covered loans, by loan portfolio type, is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Commercial | Commercial | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
real estate | business | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 100,871 | $ | 11,375 | $ | 22,566 | $ | 33,764 | $ | — | $ | 168,576 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 27 | — | (1 | ) | (1 | ) | — | 25 | |||||||||||||||||||||||||||||||||||||||||
(Decrease) Increase in FDIC loss share receivable | (30,853 | ) | (3,137 | ) | (5,734 | ) | (18,841 | ) | — | (58,565 | ) | ||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (22,375 | ) | (314 | ) | (6,614 | ) | 1 | — | (29,302 | ) | |||||||||||||||||||||||||||||||||||||||
Loans charged off | (1,683 | ) | — | — | — | — | (1,683 | ) | |||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 45,987 | $ | 7,924 | $ | 10,217 | $ | 14,923 | $ | — | $ | 79,051 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 45,987 | 7,924 | 10,217 | 14,923 | — | 79,051 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 459,506 | $ | 40,422 | $ | 153,515 | $ | 153,559 | $ | — | $ | 807,002 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 459,506 | 40,422 | 153,515 | 153,559 | — | 807,002 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 23,751 | — | 28,333 | 26,400 | — | 78,484 | |||||||||||||||||||||||||||||||||||||||||||
September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Commercial | Commercial | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
real estate | business | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 69,175 | $ | 9,788 | $ | 21,184 | $ | 18,753 | $ | — | $ | 118,900 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 3,550 | 922 | (1,387 | ) | 397 | — | 3,482 | ||||||||||||||||||||||||||||||||||||||||||
(Decrease) Increase in FDIC loss share receivable | 24,229 | 2,398 | 4,277 | 2,882 | — | 33,786 | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (9,876 | ) | (2,475 | ) | (10,593 | ) | (825 | ) | — | (23,769 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (13,143 | ) | — | (131 | ) | (9 | ) | — | (13,283 | ) | |||||||||||||||||||||||||||||||||||||||
Recoveries | 16 | — | — | 3 | — | 19 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 73,951 | $ | 10,633 | $ | 13,350 | $ | 21,201 | $ | — | $ | 119,135 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 73,951 | 10,633 | 13,350 | 21,201 | — | 119,135 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 670,001 | $ | 91,822 | $ | 197,333 | $ | 180,094 | $ | — | $ | 1,139,250 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 670,001 | 91,822 | 197,333 | 180,094 | — | 1,139,250 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 171,965 | 3,522 | 22,085 | 24,388 | — | 221,960 | |||||||||||||||||||||||||||||||||||||||||||
Credit Quality | |||||||||||||||||||||||||||||||||||||||||||||||||
The Company’s investment in non-covered loans by credit quality indicator is presented in the following tables. Because of the difference in accounting for acquired loans, the tables below further segregate the Company’s non-covered loans receivable between acquired loans and loans that were not acquired. Loan discounts in the tables below represent the adjustment of non-covered acquired loans to fair value at the acquisition date, as adjusted for income accretion and changes in cash flow estimates in subsequent periods. Asset risk classifications for commercial loans reflect the classification as of September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in | Pass | Special | Substandard | Doubtful | Total | Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||||||||||||
thousands) | Mention | Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 374,458 | $ | 4,800 | $ | 3,837 | $ | — | $ | 383,095 | $ | 269,842 | $ | 16,767 | $ | 7,067 | $ | — | $ | 293,676 | |||||||||||||||||||||||||||||
Commercial real estate - other | 2,503,820 | 37,537 | 26,896 | 117 | 2,568,370 | 2,162,989 | 40,547 | 47,710 | 398 | 2,251,644 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 2,546,614 | 9,013 | 32,825 | 953 | 2,589,405 | 2,295,788 | 21,640 | 49,958 | 48 | 2,367,434 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 5,424,892 | $ | 51,350 | $ | 63,558 | $ | 1,070 | 5,540,870 | $ | 4,728,619 | $ | 78,954 | $ | 104,735 | $ | 446 | $ | 4,912,754 | ||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | 30+ Days | Total | Current | 30+ Days | Total | |||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential prime | $ | 261,615 | $ | 12,140 | $ | 273,755 | $ | 185,843 | $ | 10,986 | $ | 196,829 | |||||||||||||||||||||||||||||||||||||
Residential subprime | 115,715 | 442 | 116,157 | 60,454 | — | 60,454 | |||||||||||||||||||||||||||||||||||||||||||
Home equity | 1,063,257 | 9,414 | 1,072,671 | 991,766 | 8,872 | 1,000,638 | |||||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 364,094 | 3,214 | 367,308 | 320,148 | 2,818 | 322,966 | |||||||||||||||||||||||||||||||||||||||||||
Credit card | 59,225 | 711 | 59,936 | 51,117 | 605 | 51,722 | |||||||||||||||||||||||||||||||||||||||||||
Consumer - other | 287,477 | 1,399 | 288,876 | 201,161 | 981 | 202,142 | |||||||||||||||||||||||||||||||||||||||||||
$ | 2,151,383 | $ | 27,320 | $ | 2,178,703 | $ | 1,810,489 | $ | 24,262 | $ | 1,834,751 | ||||||||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in | Pass | Special | Substandard | Doubtful | Discount | Total | Pass | Special | Substandard | Doubtful | Discount | Total | |||||||||||||||||||||||||||||||||||||
thousands) | Mention | Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 12,900 | $ | 1,321 | $ | 4,353 | $ | — | $ | (1,928 | ) | $ | 16,646 | $ | 25,896 | $ | 2,410 | $ | 5,228 | $ | — | $ | (3,968 | ) | $ | 29,566 | |||||||||||||||||||||||
Commercial real estate - other | 320,781 | 18,438 | 63,816 | 212 | (51,025 | ) | 352,222 | 359,046 | 28,185 | 85,420 | 218 | (57,055 | ) | 415,814 | |||||||||||||||||||||||||||||||||||
Commercial business | 56,465 | 2,241 | 3,725 | 88 | (8,102 | ) | 54,417 | 86,201 | 2,159 | 4,808 | 2,209 | (12,144 | ) | 83,233 | |||||||||||||||||||||||||||||||||||
Total | $ | 390,146 | $ | 22,000 | $ | 71,894 | $ | 300 | $ | (61,055 | ) | $ | 423,285 | $ | 471,143 | $ | 32,754 | $ | 95,456 | $ | 2,427 | $ | (73,167 | ) | $ | 528,613 | |||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | 30+ Days | Premium | Total | Current | 30+ Days | Premium | Total | |||||||||||||||||||||||||||||||||||||||||
Past Due | (discount) | Past Due | (discount) | ||||||||||||||||||||||||||||||||||||||||||||||
Residential prime | $ | 20,388 | $ | 226 | $ | (586 | ) | $ | 20,028 | $ | 30,663 | $ | 779 | $ | 1,315 | $ | 32,757 | ||||||||||||||||||||||||||||||||
Home equity | 56,842 | 6,550 | (4,193 | ) | 59,199 | 73,658 | 7,115 | (4,498 | ) | 76,275 | |||||||||||||||||||||||||||||||||||||||
Indirect automobile | 2,258 | 189 | — | 2,447 | 4,698 | 321 | — | 5,019 | |||||||||||||||||||||||||||||||||||||||||
Consumer - other | 13,859 | 1,295 | (3,651 | ) | 11,503 | 21,746 | 714 | (6,805 | ) | 15,655 | |||||||||||||||||||||||||||||||||||||||
$ | 93,347 | $ | 8,260 | $ | (8,430 | ) | $ | 93,177 | $ | 130,765 | $ | 8,929 | $ | (9,988 | ) | $ | 129,706 | ||||||||||||||||||||||||||||||||
Credit quality information in the table above includes loans acquired at the gross loan balance, prior to the application of discounts, at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||||||||||||||||||
The Company’s investment in covered loans by credit quality indicator is presented in the following table. Loan discounts in the tables below represent the adjustment of covered loans to fair value at the date, as adjusted for income accretion and changes in cash flow estimates in subsequent periods. | |||||||||||||||||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Special | Substandard | Doubtful | Total | Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||||||||||||
Mention | Mention | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 44,312 | $ | 8,093 | $ | 42,849 | $ | 497 | $ | 95,751 | $ | 46,201 | $ | 9,888 | $ | 97,315 | $ | 607 | $ | 154,011 | |||||||||||||||||||||||||||||
Commercial real estate - other | 146,103 | 56,182 | 194,785 | 7,496 | 404,566 | 201,261 | 65,498 | 279,171 | 8,530 | 554,460 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 33,112 | 958 | 17,201 | 1,277 | 52,548 | 38,552 | 8,600 | 50,018 | 451 | 97,621 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 223,527 | $ | 65,233 | $ | 254,835 | $ | 9,270 | $ | 552,865 | $ | 286,014 | $ | 83,986 | $ | 426,504 | $ | 9,588 | $ | 806,092 | |||||||||||||||||||||||||||||
Discount | (52,937 | ) | (78,198 | ) | |||||||||||||||||||||||||||||||||||||||||||||
$ | 499,928 | $ | 727,894 | ||||||||||||||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | 30+ Days | Premium | Total | Current | 30+ Days | Premium | Total | |||||||||||||||||||||||||||||||||||||||||
Past Due | (discount) | Past Due | (discount) | ||||||||||||||||||||||||||||||||||||||||||||||
Residential prime | $ | 164,214 | $ | 33,114 | $ | (43,813 | ) | $ | 153,515 | $ | 183,795 | $ | 52,379 | $ | (49,010 | ) | $ | 187,164 | |||||||||||||||||||||||||||||||
Home equity | 150,302 | 41,683 | (42,841 | ) | 149,144 | 168,729 | 65,997 | (60,514 | ) | 174,212 | |||||||||||||||||||||||||||||||||||||||
Credit card | 665 | 36 | — | 701 | 841 | 65 | — | 906 | |||||||||||||||||||||||||||||||||||||||||
Consumer - other | 643 | 204 | 2,867 | 3,714 | 1,154 | 1,523 | (97 | ) | 2,580 | ||||||||||||||||||||||||||||||||||||||||
$ | 315,824 | $ | 75,037 | $ | (83,787 | ) | $ | 307,074 | $ | 354,519 | $ | 119,964 | $ | (109,621 | ) | $ | 364,862 | ||||||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||||||||||||||||||
Information on the Company’s investment in impaired loans is presented in the following tables as of and for the periods indicated. | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Recorded | Unpaid | Related | Recorded | Unpaid | Related | |||||||||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Investment | Principal | Allowance | ||||||||||||||||||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 9,392 | $ | 9,392 | $ | — | $ | 26,151 | $ | 26,151 | $ | — | |||||||||||||||||||||||||||||||||||||
Commercial business | 13,068 | 13,068 | — | 1,824 | 1,824 | — | |||||||||||||||||||||||||||||||||||||||||||
Home equity | 263 | 263 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 2,913 | 2,937 | (24 | ) | 3,464 | 3,663 | (199 | ) | |||||||||||||||||||||||||||||||||||||||||
Commercial business | 2,569 | 2,579 | (10 | ) | 1,334 | 1,810 | (476 | ) | |||||||||||||||||||||||||||||||||||||||||
Residential prime | 9,575 | 9,908 | (333 | ) | 9,861 | 10,070 | (209 | ) | |||||||||||||||||||||||||||||||||||||||||
Home equity | 6,784 | 6,829 | (45 | ) | 5,860 | 5,951 | (91 | ) | |||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 1,050 | 1,056 | (6 | ) | 865 | 868 | (3 | ) | |||||||||||||||||||||||||||||||||||||||||
Credit card | 417 | 425 | (8 | ) | 413 | 424 | (11 | ) | |||||||||||||||||||||||||||||||||||||||||
Other | 252 | 255 | (3 | ) | 307 | 310 | (3 | ) | |||||||||||||||||||||||||||||||||||||||||
$ | 46,283 | $ | 46,712 | $ | (429 | ) | $ | 50,079 | $ | 51,071 | $ | (992 | ) | ||||||||||||||||||||||||||||||||||||
Total commercial loans | 27,942 | 27,976 | (34 | ) | 32,773 | 33,448 | (675 | ) | |||||||||||||||||||||||||||||||||||||||||
Total mortgage loans | 9,575 | 9,908 | (333 | ) | 9,861 | 10,070 | (209 | ) | |||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 8,766 | 8,828 | (62 | ) | 7,445 | 7,553 | (108 | ) | |||||||||||||||||||||||||||||||||||||||||
For the Three Months Ended September 30 | For the Nine Months Ended September 30 | ||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Average | Interest | Average | Interest | Average | Interest | Average | Interest | |||||||||||||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||||||||||||||
Investment | Recognized (1) | Investment | Recognized (1) | Investment | Recognized (1) | Investment | Recognized (1) | ||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 10,703 | $ | 6 | $ | 27,547 | $ | 15 | $ | 12,787 | $ | 22 | $ | 29,872 | $ | 651 | |||||||||||||||||||||||||||||||||
Commercial business | 13,218 | 17 | 2,451 | — | 8,608 | 59 | 3,387 | 71 | |||||||||||||||||||||||||||||||||||||||||
Home Equity | 265 | — | 225 | — | 287 | — | 227 | — | |||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 4,346 | — | 2,731 | 8 | 6,092 | 5 | 2,866 | 22 | |||||||||||||||||||||||||||||||||||||||||
Commercial business | 2,739 | — | 209 | 1 | 2,746 | 3 | 215 | 1 | |||||||||||||||||||||||||||||||||||||||||
Residential prime | 9,650 | — | 9,248 | — | 9,380 | 7 | 7,439 | 148 | |||||||||||||||||||||||||||||||||||||||||
Home equity | 7,244 | — | 6,184 | — | 7,458 | 14 | 6,502 | 110 | |||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 1,349 | — | 1,135 | — | 1,610 | 22 | 1,345 | 20 | |||||||||||||||||||||||||||||||||||||||||
Credit card | 424 | — | 387 | — | 426 | — | 354 | — | |||||||||||||||||||||||||||||||||||||||||
Other | 372 | — | 585 | — | 446 | 4 | 675 | 6 | |||||||||||||||||||||||||||||||||||||||||
$ | 50,310 | $ | 23 | $ | 50,702 | $ | 24 | $ | 49,840 | $ | 136 | $ | 52,882 | $ | 1,029 | ||||||||||||||||||||||||||||||||||
Total commercial loans | 31,006 | 23 | 32,938 | 24 | 30,233 | 89 | 36,340 | 745 | |||||||||||||||||||||||||||||||||||||||||
Total mortgage loans | 9,650 | — | 9,248 | — | 9,380 | 7 | 7,439 | 148 | |||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 9,654 | — | 8,516 | — | 10,227 | 40 | 9,103 | 136 | |||||||||||||||||||||||||||||||||||||||||
-1 | Interest income recognized on impaired loans represents income recognized before loans were placed on nonaccrual status. | ||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 and December 31, 2012, the Company was not committed to lend additional funds to any customer whose loan was classified as impaired or as a troubled debt restructuring. |
Loss_Sharing_Agreements_and_FD
Loss Sharing Agreements and FDIC Loss Share Receivable | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Loss Sharing Agreements and FDIC Loss Share Receivable | ' | ||||||||
NOTE 8 – LOSS SHARING AGREEMENTS AND FDIC LOSS SHARE RECEIVABLE | |||||||||
Loss Sharing Agreements | |||||||||
In 2009, the Company acquired substantially all of the assets and liabilities of CSB, and certain assets and assumed certain deposit and other liabilities of Orion and Century. In 2010, the Company acquired certain assets and assumed certain deposit and other liabilities of Sterling. Excluding consumer loans acquired from Sterling, the loans and foreclosed real estate that were acquired in these transactions are covered by loss share agreements between the FDIC and IBERIABANK, which afford IBERIABANK significant loss protection. | |||||||||
During the reimbursable loss periods, the FDIC will cover 80% of covered loan and foreclosed real estate losses up to certain thresholds for all four acquisitions, and 95% of losses that exceed contractual thresholds for CSB, Orion, and Century. The CapitalSouth reimbursable loss period ends during the third quarter of 2014 for all covered assets excluding single family residential loans and during the third quarter of 2019 for single family residential loans. The Century and Orion reimbursable loss periods end during the fourth quarter of 2014 for all covered assets excluding single family residential loans and during the fourth quarter of 2019 for single family residential loans. The Sterling reimbursable loss period ends during the third quarter of 2015 for all covered assets excluding single family residential loans and during the third quarter of 2020 for single family residential loans. | |||||||||
In addition, all loans excluding single family residential loans have a three year recovery period, which begins upon expiration of the reimbursable loss period. During the recovery periods, the Company must reimburse the FDIC for its share of any recovered losses, consistent with the covered loss reimbursement rates in effect during the reimbursable loss periods. | |||||||||
The Orion, Century, and Sterling loss share agreements include “clawback” provisions. The clawback provisions require the Company to make payments to the FDIC to the extent that specified cumulative loss floors are not incurred. Of the three loss share agreements that contain clawback provisions, cumulative losses under two of these agreements have exceeded the cumulative loss floors that would trigger a clawback payment. The loss floor has not yet been attained for the third agreement. However, the sum of the historical and remaining projected losses under the remaining agreement is in excess of the clawback amount stated in that agreement. The Company has recorded a liability of $797,000 at September 30, 2013 to reserve for the amount of consideration due to the FDIC based on cumulative losses to date. Improvement in the performance of covered assets in excess of current expectations, particularly in regard to improvements in recoveries and/or reduced losses, through expiration of the recovery periods could result in reduced levels of cumulative losses that trigger the clawback provisions within any or all of the applicable loss share agreements. | |||||||||
FDIC loss share receivable | |||||||||
The Company recorded indemnification assets in the form of FDIC loss share receivables as of the acquisition date of each of the four banks covered by loss share agreements. At acquisition, the indemnification assets represented the fair value of the expected cash flows to be received from the FDIC under the loss share agreements. Subsequent to acquisition, the FDIC loss share receivables are updated to reflect changes in actual and expected amounts collectible adjusted for amortization. Note 1 to these unaudited consolidated financial statements provides additional information regarding the Company’s FDIC loss share receivable accounting policy and basis of presentation. | |||||||||
The following is a summary of FDIC loss share receivable year-to-date activity: | |||||||||
September 30 | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Balance at beginning of period | $ | 423,069 | $ | 591,844 | |||||
Change due to (reversal of) credit loss provision recorded on FDIC covered loans | (58,565 | ) | 33,786 | ||||||
Amortization | (68,707 | ) | (89,899 | ) | |||||
Submission of reimbursable losses to the FDIC | (44,910 | ) | (97,511 | ) | |||||
Impairment | (31,813 | ) | — | ||||||
Changes due to a change in cash flow assumptions on OREO and other | (14,189 | ) | (7,053 | ) | |||||
Balance at end of period | $ | 204,885 | $ | 431,167 | |||||
FDIC loss share receivables collectability assessment | |||||||||
The Company assesses the FDIC loss share receivables for collectability on a quarterly basis. Note 1 provides a description of the Company’s policy for assessing the FDIC loss share receivables for collectability. Based on the collectability analysis completed for the three months ended September 30, 2013, the Company concluded that the $204.9 million FDIC loss share receivable is fully collectible as of September 30, 2013. See below for discussion of the impairment charge recognized for the three-month period ended March 31, 2013. | |||||||||
Impairment of FDIC loss share receivables | |||||||||
Based on improving economic trends, their impact on the amount and timing of expected future cash flows, and delays in the foreclosure process, during the loss share receivable collectability assessment completed for the three-months ended March 31, 2013, the Company concluded that certain expected losses were probable of not being collected from either the FDIC or the customer because such projected losses were no longer expected to occur or were expected to occur beyond the reimbursable loss periods specified within the loss share agreements. | |||||||||
On April 10, 2013, the Audit Committee and the Board of Directors concluded that an impairment charge was required under generally accepted accounting principles applicable to the Company and should be recognized in the Company’s unaudited consolidated financial statements during the three-month period ended March 31, 2013. Therefore, the Company recognized a valuation allowance against the indemnification assets in the amount of $31,813,000 through a charge to net income. | |||||||||
Generally accepted accounting principles require that the tax effects of unusual or infrequent items, such as impairment of the FDIC loss share receivables, be recognized in the interim period in which they occur. Recognition of the tax effect of the impairment during the three-month period ended March 31, 2013 resulted in an effective tax rate for that period, and subsequent year to date periods in 2013, that is not customary of the Company’s effective tax rate without recognition of this infrequent item. |
Transfers_and_Servicing_of_Fin
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Transfers And Servicing [Abstract] | ' | ||||||||||||||||||||||||
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) | ' | ||||||||||||||||||||||||
NOTE 9 – TRANSFERS AND SERVICING OF FINANCIAL ASSETS (INCLUDING MORTGAGE BANKING ACTIVITY) | |||||||||||||||||||||||||
Mortgage Banking Activity | |||||||||||||||||||||||||
IBERIABANK through its subsidiary, IMC, originates mortgage loans for sale into the secondary market. The loans originated primarily consist of residential first mortgages that conform to standards established by the GSEs, but can also consist of junior lien loans secured by residential property. These sales are primarily to private companies that are unaffiliated with the GSEs on a servicing released basis. The following table details the mortgage banking activity as of and for the nine months ended September 30: | |||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||
Balance at beginning of period | $ | 267,475 | $ | 153,013 | |||||||||||||||||||||
Originations | 1,712,557 | 1,749,121 | |||||||||||||||||||||||
Sales | (1,871,747 | ) | (1,691,002 | ) | |||||||||||||||||||||
Balance at end of period | $ | 108,285 | $ | 211,132 | |||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||
Fair value changes of derivatives and mortgage loans held for sale, net | $ | (270 | ) | $ | 2,954 | ||||||||||||||||||||
Gains on sales | 51,709 | 51,828 | |||||||||||||||||||||||
Servicing and other income, net | 402 | 336 | |||||||||||||||||||||||
$ | 51,841 | $ | 55,118 | ||||||||||||||||||||||
Mortgage Servicing Rights | |||||||||||||||||||||||||
Mortgage servicing rights are amortized over the remaining servicing life of the loans, with consideration given to prepayment assumptions. Mortgage servicing rights had the following carrying values: | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
(Dollars in thousands) | Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||
Carrying Amount | Amortization | Carrying Amount | Carrying Amount | Amortization | Carrying Amount | ||||||||||||||||||||
Mortgage servicing rights | $ | 1,816 | $ | (543 | ) | $ | 1,273 | $ | 1,234 | $ | (304 | ) | $ | 930 |
Goodwill_and_Other_Acquired_In
Goodwill and Other Acquired Intangible Assets | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Goodwill and Other Acquired Intangible Assets | ' | ||||||||||||||||||||||||
NOTE 10 – GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS | |||||||||||||||||||||||||
Goodwill | |||||||||||||||||||||||||
Changes to the carrying amount of goodwill for the year ended December 31, 2012 and the nine months ended September 30, 2013 are provided in the following table. | |||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Balance, December 31, 2011 | $ | 369,811 | |||||||||||||||||||||||
Goodwill acquired during the year | 32,420 | ||||||||||||||||||||||||
Goodwill adjustment to correct an immaterial error | (359 | ) | |||||||||||||||||||||||
Balance, December 31, 2012 | 401,872 | ||||||||||||||||||||||||
Goodwill acquired during the period | — | ||||||||||||||||||||||||
Balance, September 30, 2013 | $ | 401,872 | |||||||||||||||||||||||
The goodwill acquired during the year ended December 31, 2012 was a result of the Florida Gulf acquisition. | |||||||||||||||||||||||||
The goodwill adjustment in 2012 was a result of the Company’s revised goodwill recorded on its OMNI and Cameron acquisitions. The Company has recorded the adjustment to account for the impact of an immaterial error in accounting for its OMNI and Cameron acquisitions that resulted in a decrease in goodwill of $359,000. The Company revised its valuation of acquired deferred tax assets and property during the first quarter of 2012 as a result of information that existed at the acquisition date but was not available during the prior period. The error was identified in 2012 through the operation of the Company’s internal controls over financial reporting as it related to the Company’s acquisition accounting. | |||||||||||||||||||||||||
The Company performed the required annual goodwill impairment test as of October 1, 2012. The Company’s annual impairment test did not indicate impairment at any of the Company’s reporting units as of the testing date. The Company is in the process of performing its annual goodwill impairment test as of October 1, 2013. | |||||||||||||||||||||||||
Prior to 2011, the Company recognized goodwill impairment of $9,681,000 at the Company’s LTC subsidiary based on a decrease in operating revenue and income, which resulted in the conclusion that the fair value of LTC may have been reduced below its carrying amount. | |||||||||||||||||||||||||
Title plant | |||||||||||||||||||||||||
The Company held title plant assets totaling $6,722,000 at September 30, 2013 and December 31, 2012, respectively. No events or changes in circumstances occurred during 2013 or 2012 to suggest the carrying value of the title plant was not recoverable. | |||||||||||||||||||||||||
Intangible assets subject to amortization | |||||||||||||||||||||||||
Definite-lived intangible assets had the following carrying values for the periods indicated: | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
(Dollars in thousands) | Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||
Carrying Amount | Amortization | Carrying Amount | Carrying Amount | Amortization | Carrying Amount | ||||||||||||||||||||
Core deposit intangibles | $ | 45,406 | $ | (29,659 | ) | $ | 15,747 | $ | 45,406 | $ | (26,284 | ) | $ | 19,122 | |||||||||||
Customer relationship intangible asset | 1,348 | (579 | ) | 769 | 1,348 | (410 | ) | 938 | |||||||||||||||||
$ | 46,754 | $ | (30,238 | ) | $ | 16,516 | $ | 46,754 | $ | (26,694 | ) | $ | 20,060 | ||||||||||||
Other_Real_Estate_Owned
Other Real Estate Owned | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Other Real Estate Owned | ' | ||||||||||||||||||||||||
NOTE 11 – OTHER REAL ESTATE OWNED | |||||||||||||||||||||||||
Other real estate owned, segregated into non-covered and covered properties, consists of the following as of the periods indicated. | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
(Dollars in thousands) | Non-covered | Covered | Total | Non-covered | Covered | Total | |||||||||||||||||||
Real estate owned acquired by foreclosure | $ | 31,261 | $ | 85,616 | $ | 116,877 | $ | 35,080 | $ | 75,784 | $ | 110,864 | |||||||||||||
Real estate acquired for development or resale | 10,518 | — | 10,518 | 9,199 | — | 9,199 | |||||||||||||||||||
Other foreclosed property | 109 | 1,483 | 1,592 | 14 | 1,459 | 1,473 | |||||||||||||||||||
$ | 41,888 | $ | 87,099 | $ | 128,987 | $ | 44,293 | $ | 77,243 | $ | 121,536 | ||||||||||||||
Derivative_Instruments_and_Oth
Derivative Instruments and Other Hedging Activities | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Derivative Instruments and Other Hedging Activities | ' | ||||||||||||||||||||||||||||
NOTE 12 – DERIVATIVE INSTRUMENTS AND OTHER HEDGING ACTIVITIES | |||||||||||||||||||||||||||||
Information pertaining to outstanding derivative instruments is as follows: | |||||||||||||||||||||||||||||
Balance Sheet | Asset Derivatives Fair Value | Balance Sheet | Liability Derivatives Fair Value | ||||||||||||||||||||||||||
(Dollars in thousands) | Location | September 30, 2013 | December 31, 2012 | Location | September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
Derivatives designated as hedging instruments under ASC Topic 815: | |||||||||||||||||||||||||||||
Interest rate contracts | Other assets | $ | — | $ | 499 | Other liabilities | $ | — | $ | 1,843 | |||||||||||||||||||
Total derivatives designated as hedging instruments under ASC Topic 815 | $ | — | $ | 499 | $ | — | $ | 1,843 | |||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC Topic 815: | |||||||||||||||||||||||||||||
Interest rate contracts | Other assets | $ | 14,312 | $ | 25,940 | Other liabilities | $ | 14,312 | $ | 25,940 | |||||||||||||||||||
Forward sales contracts | Other assets | 148 | 2,774 | Other liabilities | 5,289 | 343 | |||||||||||||||||||||||
Written and purchased options | Other assets | 18,009 | 12,906 | Other liabilities | 11,920 | 8,764 | |||||||||||||||||||||||
Total derivatives not designated as hedging instruments under ASC Topic 815 | $ | 32,469 | $ | 41,620 | $ | 31,521 | $ | 35,047 | |||||||||||||||||||||
Total derivatives | $ | 32,469 | $ | 42,119 | $ | 31,521 | $ | 36,890 | |||||||||||||||||||||
Asset Derivatives Notional Amount | Liability Derivatives Notional Amount | ||||||||||||||||||||||||||||
(Dollars in thousands) | September 30, 2013 | December 31, 2012 | September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||
Derivatives designated as hedging instruments under ASC Topic 815: | |||||||||||||||||||||||||||||
Interest rate contracts | $ | — | $ | 35,000 | $ | — | $ | 35,000 | |||||||||||||||||||||
Total derivatives designated as hedging instruments under ASC Topic 815 | $ | — | $ | 35,000 | $ | — | $ | 35,000 | |||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC Topic 815: | |||||||||||||||||||||||||||||
Interest rate contracts | $ | 376,374 | $ | 374,536 | $ | 376,374 | $ | 374,536 | |||||||||||||||||||||
Forward sales contracts | 8,218 | 212,028 | 253,051 | 53,269 | |||||||||||||||||||||||||
Written and purchased options | 366,585 | 388,793 | 196,950 | 185,885 | |||||||||||||||||||||||||
Total derivatives not designated as hedging instruments under ASC Topic 815 | $ | 751,177 | $ | 975,357 | $ | 826,375 | $ | 613,690 | |||||||||||||||||||||
Total derivatives | $ | 751,177 | $ | 1,010,357 | $ | 826,375 | $ | 648,690 | |||||||||||||||||||||
The Company is party to collateral agreements with certain derivative counterparties. Such agreements require that the Company maintain collateral based on the fair values of individual derivative transactions. In the event of default by the Company, the counterparty would be entitled to the collateral. | |||||||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012, the Company was required to post $5,630,000 and $2,650,000, respectively, in cash as collateral for its derivative transactions, which are included in interest-bearing deposits in banks on the Company’s consolidated balance sheets. The Company does not anticipate additional assets will be required to be posted as collateral, nor does it believe additional assets would be required to settle its derivative instruments immediately if contingent features were triggered at September 30, 2013. The Company’s master netting agreements represent written, legally enforceable bilateral agreements that (1) create a single legal obligation for all individual transactions covered by the agreement to the non-defaulting entity upon an event of default of the counterparty, including bankruptcy, insolvency, or similar proceeding, and (2) provide the non-defaulting entity the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to liquidate or set-off collateral promptly upon an event of default of the counterparty. As permitted by generally-accepted accounting principles, the Company does not offset fair value amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral against recognized fair value amounts of derivatives executed with the same counterparty under a master netting agreement. The following table reconciles the gross amounts presented in the consolidated balance sheets to the net amounts that would result in the event of offset. | |||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||
Gross Amounts | Gross Amounts Not Offset | Net | |||||||||||||||||||||||||||
Presented in the | in the Balance Sheet | ||||||||||||||||||||||||||||
(Dollars in thousands) | Balance Sheet | Derivatives | Collateral (1) | ||||||||||||||||||||||||||
Derivatives subject to master netting arrangements | |||||||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 14,312 | — | — | 14,312 | |||||||||||||||||||||||||
Written and purchased options | 11,865 | — | — | 11,865 | |||||||||||||||||||||||||
Total derivative assets subject to master netting arrangements | $ | 26,177 | $ | — | $ | — | $ | 26,177 | |||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 14,312 | — | (5,658 | ) | 8,654 | ||||||||||||||||||||||||
Total derivative liabilities subject to master netting arrangements | $ | 14,312 | $ | — | $ | (5,658 | ) | $ | 8,654 | ||||||||||||||||||||
-1 | Consists of cash collateral recorded at cost, which approximates fair value, and investment securities. | ||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Gross Amounts | Gross Amounts Not Offset | Net | |||||||||||||||||||||||||||
Presented in the | in the Balance Sheet | ||||||||||||||||||||||||||||
(Dollars in thousands) | Balance Sheet | Derivatives | Collateral (1) | ||||||||||||||||||||||||||
Derivatives subject to master netting arrangements | |||||||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | 499 | $ | (499 | ) | $ | — | $ | — | ||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 25,940 | — | — | 25,940 | |||||||||||||||||||||||||
Written and purchased options | 8,763 | — | — | 8,763 | |||||||||||||||||||||||||
Total derivative assets subject to master netting arrangements | $ | 35,202 | $ | (499 | ) | $ | — | $ | 34,703 | ||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | 1,843 | $ | (499 | ) | $ | — | $ | 1,344 | ||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 25,940 | — | (13,350 | ) | 12,590 | ||||||||||||||||||||||||
Total derivative liabilities subject to master netting arrangements | $ | 27,783 | $ | (499 | ) | $ | (13,350 | ) | $ | 13,934 | |||||||||||||||||||
-1 | Consists of cash collateral recorded at cost, which approximates fair value, and investment securities. | ||||||||||||||||||||||||||||
During the nine months ended September 30, 2013 and 2012, the Company has not reclassified into earnings any gain or loss as a result of the discontinuance of cash flow hedges because it was probable the original forecasted transaction would not occur by the end of the originally specified term. | |||||||||||||||||||||||||||||
At September 30, 2013, the fair value of derivatives that will mature within the next twelve months is $690,000. The Company does not expect to reclassify any amount from accumulated other comprehensive income into interest income over the next twelve months for derivatives that will be settled. | |||||||||||||||||||||||||||||
Information pertaining to the effect of the hedging instruments on the consolidated financial statements is as follows: | |||||||||||||||||||||||||||||
Amount of Gain (Loss) | Location of | Amount of Gain | Location of | Amount of Gain | |||||||||||||||||||||||||
Recognized in OCI | Gain (Loss) | (Loss) | Gain (Loss) | (Loss) | |||||||||||||||||||||||||
net of taxes | Reclassified | Reclassified | Recognized in | Recognized in | |||||||||||||||||||||||||
(Effective Portion) | from | from | Income on | Income on | |||||||||||||||||||||||||
Accumulated | Accumulated | Derivative | Derivative | ||||||||||||||||||||||||||
OCI into | OCI into | (Ineffective | (Ineffective | ||||||||||||||||||||||||||
Income | Income | Portion and | Portion and | ||||||||||||||||||||||||||
(Effective | (Effective Portion) | Amount | Amount | ||||||||||||||||||||||||||
Portion) | Excluded from | Excluded from | |||||||||||||||||||||||||||
(Effectiveness | Effectiveness Testing) | ||||||||||||||||||||||||||||
Testing) | |||||||||||||||||||||||||||||
As of September 30 | For the Three Months Ended September 30 | ||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
Derivatives in ASC Topic 815 Cash Flow Hedging Relationships | |||||||||||||||||||||||||||||
Interest rate contracts | $ | — | $ | (2,358 | ) | Other income | $ | — | $ | (408 | ) | Other income | $ | — | $ | — | |||||||||||||
(expense) | (expense) | ||||||||||||||||||||||||||||
$ | — | $ | (2,358 | ) | $ | — | $ | (408 | ) | $ | — | $ | — | ||||||||||||||||
Amount of Gain | Location of | Amount of Gain | Location of | Amount of Gain | |||||||||||||||||||||||||
(Loss) Recognized | Gain (Loss) | (Loss) Reclassified | Gain (Loss) | (Loss) | |||||||||||||||||||||||||
in OCI net of | Reclassified | from Accumulated | Recognized in | Recognized in | |||||||||||||||||||||||||
taxes | from | OCI into Income | Income on | Income on | |||||||||||||||||||||||||
(Effective Portion) | Accumulated | (Effective Portion) | Derivative | Derivative | |||||||||||||||||||||||||
OCI into | (Ineffective | (Ineffective | |||||||||||||||||||||||||||
Income | Portion and | Portion and | |||||||||||||||||||||||||||
(Effective | Amount | Amount | |||||||||||||||||||||||||||
Portion) | Excluded from | Excluded from | |||||||||||||||||||||||||||
(Effectiveness | Effectiveness Testing) | ||||||||||||||||||||||||||||
Testing) | |||||||||||||||||||||||||||||
As of September 30 | For the Nine Months Ended September 30 | ||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
Derivatives in ASC Topic 815 Cash Flow Hedging Relationships | |||||||||||||||||||||||||||||
Interest rate contracts | $ | — | $ | (2,358 | ) | Other income | $ | (392 | ) | $ | (1,195 | ) | Other income | $ | — | $ | — | ||||||||||||
(expense) | (expense) | ||||||||||||||||||||||||||||
$ | — | $ | (2,358 | ) | $ | (392 | ) | $ | (1,195 | ) | $ | — | $ | — | |||||||||||||||
Location of | Amount of Gain (Loss) Recognized in | ||||||||||||||||||||||||||||
Gain (Loss) | Income on Derivatives | ||||||||||||||||||||||||||||
Recognized in | |||||||||||||||||||||||||||||
Income | For the Three Months Ended | For the Nine Months Ended | |||||||||||||||||||||||||||
on Derivatives | September 30 | September 30 | |||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments under ASC Topic 815 | |||||||||||||||||||||||||||||
Interest rate contracts | Other income | $ | 2,061 | 247 | 2,542 | 627 | |||||||||||||||||||||||
(expense) | |||||||||||||||||||||||||||||
Forward sales contracts | Mortgage Income | 3,290 | (1,887 | ) | 897 | (1,887 | ) | ||||||||||||||||||||||
Written and purchased options | Mortgage Income | (7,896 | ) | 3,378 | (3,820 | ) | 5,094 | ||||||||||||||||||||||
$ | (2,545 | ) | $ | 1,738 | $ | (381 | ) | $ | 3,834 | ||||||||||||||||||||
Other_Comprehensive_Income
Other Comprehensive Income | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Other Comprehensive Income | ' | ||||||||||||
NOTE 13 –OTHER COMPREHENSIVE INCOME | |||||||||||||
The following is a summary of the tax effects of each component of other comprehensive income for the periods indicated: | |||||||||||||
Three Months Ended | |||||||||||||
September 30, 2013 | |||||||||||||
(Dollars in thousands) | Before | Tax Expense | Net-of-Tax | ||||||||||
Tax | (Benefit) | Amount | |||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding gains arising during the period | $ | 5,528 | $ | (1,935 | ) | $ | 3,593 | ||||||
Less: reclassification adjustment for losses included in net income | 3 | (1 | ) | 2 | |||||||||
Net unrealized gains | 5,531 | (1,936 | ) | 3,595 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | — | $ | — | $ | — | |||||||
Less: reclassification adjustment for gains included in net income | — | — | — | ||||||||||
Fair value of derivative instruments designated as cash flow hedges | — | — | — | ||||||||||
Total other comprehensive income | $ | 5,531 | $ | (1,936 | ) | $ | 3,595 | ||||||
Three Months Ended | |||||||||||||
30-Sep-12 | |||||||||||||
(Dollars in thousands) | Before | Tax Expense | Net-of-Tax | ||||||||||
Tax | (Benefit) | Amount | |||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding gains arising during the period | $ | 6,099 | $ | (2,135 | ) | $ | 3,964 | ||||||
Less: reclassification adjustment for gains included in net income | (41 | ) | 14 | (27 | ) | ||||||||
Net unrealized gains | 6,058 | (2,121 | ) | 3,937 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | 800 | $ | (280 | ) | $ | 520 | ||||||
Less: reclassification adjustment for losses included in net income | 409 | (142 | ) | 267 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | 1,209 | (422 | ) | 787 | |||||||||
Total other comprehensive income | $ | 7,267 | $ | (2,543 | ) | $ | 4,724 | ||||||
Nine Months Ended | |||||||||||||
September 30, 2013 | |||||||||||||
(Dollars in thousands) | Before | Tax Expense | Net-of-Tax | ||||||||||
Tax | (Benefit) | Amount | |||||||||||
Unrealized loss on securities: | |||||||||||||
Unrealized holding losses arising during the period | $ | (38,769 | ) | $ | 13,569 | $ | (25,200 | ) | |||||
Less: reclassification adjustment for gains included in net income | (2,259 | ) | 791 | (1,468 | ) | ||||||||
Net unrealized losses | (41,028 | ) | 14,360 | (26,668 | ) | ||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | 952 | $ | (333 | ) | $ | 619 | ||||||
Less: reclassification adjustment for losses included in net income | 392 | (137 | ) | 255 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | 1,344 | (470 | ) | 874 | |||||||||
Total other comprehensive loss | $ | (39,684 | ) | $ | 13,890 | $ | (25,794 | ) | |||||
Nine Months Ended | |||||||||||||
30-Sep-12 | |||||||||||||
(Dollars in thousands) | Before | Tax Expense | Net-of-Tax | ||||||||||
Tax | (Benefit) | Amount | |||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding gains arising during the period | $ | 8,236 | $ | (2,883 | ) | $ | 5,353 | ||||||
Less: reclassification adjustment for gains included in net income | (3,743 | ) | 1,310 | (2,433 | ) | ||||||||
Net unrealized gains | 4,493 | (1,573 | ) | 2,920 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | (1,882 | ) | $ | 659 | $ | (1,223 | ) | |||||
Less: reclassification adjustment for losses included in net income | 1,195 | (418 | ) | 777 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | (687 | ) | 241 | (446 | ) | ||||||||
Total other comprehensive income | $ | 3,806 | $ | (1,332 | ) | $ | 2,474 | ||||||
ShareBased_Compensation
Share-Based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Share-Based Compensation | ' | ||||||||||||||||
NOTE 14 – SHARE-BASED COMPENSATION | |||||||||||||||||
The Company has various types of share-based compensation plans. These plans are administered by the Compensation Committee of the Board of Directors, which selects persons eligible to receive awards and determines the number of shares and/or options subject to each award, the terms, conditions and other provisions of the awards. During the nine months ended September 30, 2013 and 2012, the Company did not have any equity awards that were settled in cash. | |||||||||||||||||
Stock option plans | |||||||||||||||||
The Company issues stock options under various plans to directors, officers and other key employees. The option exercise price cannot be less than the fair value of the underlying common stock as of the date of the option grant and the maximum option term cannot exceed ten years. The stock options granted were issued with vesting periods ranging from one-and-a half to seven years. At September 30, 2013, future option or restricted stock awards of 491,346 shares could be made under approved incentive compensation plans. | |||||||||||||||||
The following table represents the compensation expense that is included in salaries and employee benefits expense and related income tax benefits in the accompanying consolidated statements of comprehensive income related to stock options. | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands, except per share data) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Compensation expense related to stock options | $ | 526 | $ | 334 | $ | 1,592 | $ | 1,317 | |||||||||
Income tax benefit related to stock options | 184 | 117 | 557 | 461 | |||||||||||||
Impact on basic earnings per share | 0.01 | 0.01 | 0.03 | 0.03 | |||||||||||||
Impact on diluted earnings per share | 0.01 | 0.01 | 0.03 | 0.03 | |||||||||||||
The Company reported $495,000 and $940,000 of excess tax benefits as financing cash inflows during the nine months ended September 30, 2013 and 2012, respectively, related to the exercise and vesting of stock options. Net cash proceeds from the exercise of stock options were $5,441,000 and $1,541,000 for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||
The Company uses the Black-Scholes option pricing model to estimate the fair value of share-based awards. The following weighted-average assumptions were used for option awards outstanding during the nine-month periods ended September 30: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Expected dividends | 2.6 | % | 2.3 | % | |||||||||||||
Expected volatility | 34.8 | % | 33.9 | % | |||||||||||||
Risk-free interest rate | 1.7 | % | 2.9 | % | |||||||||||||
Expected term (in years) | 8.6 | 5.8 | |||||||||||||||
Weighted-average grant-date fair value | $ | 15.37 | $ | 13.58 | |||||||||||||
The assumptions above are based on multiple factors, including historical stock option exercise patterns and post-vesting employment termination behaviors, expected future exercise patterns and the expected volatility of the Company’s stock price. | |||||||||||||||||
At September 30, 2013, there was $4,485,000 of unrecognized compensation cost related to stock options which is expected to be recognized over a weighted-average period of 4.7 years. | |||||||||||||||||
The following table represents the activity related to stock options during the periods indicated. | |||||||||||||||||
Number of | Weighted | Weighted Average | |||||||||||||||
shares | Average | Remaining Contract Life | |||||||||||||||
Exercise | |||||||||||||||||
Price | |||||||||||||||||
Oustanding options, December 31, 2011 | 1,097,620 | $ | 50.14 | ||||||||||||||
Granted | 226,764 | 51.73 | |||||||||||||||
Issued in connection with acquisition | 32,863 | 41.3 | |||||||||||||||
Exercised | (46,729 | ) | 29.42 | ||||||||||||||
Forfeited or expired | (29,410 | ) | 57.39 | ||||||||||||||
Outstanding options, September 30, 2012 | 1,281,108 | $ | 50.78 | 4.8 | Years | ||||||||||||
Outstanding exercisable at September 30, 2012 | 822,410 | $ | 48.94 | 3 | Years | ||||||||||||
Oustanding options, December 31, 2012 | 1,236,075 | $ | 51.48 | ||||||||||||||
Granted | 75,722 | 52.36 | |||||||||||||||
Exercised | (142,841 | ) | 38.09 | ||||||||||||||
Forfeited or expired | (36,608 | ) | 56.01 | ||||||||||||||
Outstanding options, September 30, 2013 | 1,132,348 | $ | 53.09 | 4.7 | Years | ||||||||||||
Outstanding exercisable at September 30, 2013 | 749,545 | $ | 52.94 | 3.2 | Years | ||||||||||||
At September 30, 2013, the aggregate intrinsic value of shares underlying outstanding stock options and underlying exercisable stock options was $2,090,000 and $1,951,000. Total intrinsic value of options exercised was $1,920,000 and $1,046,000 for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||
Restricted stock plans | |||||||||||||||||
The Company issues restricted stock under various plans for certain officers and directors. A supplemental stock benefit plan adopted in 1999 and the 2001, 2005, 2008, and 2010 Incentive Plans allow grants of restricted stock. The plans allow for the issuance of restricted stock awards that may not be sold or otherwise transferred until certain restrictions have lapsed. The holders of the restricted stock receive dividends and have the right to vote the shares. The fair value of the restricted stock shares awarded under these plans is recorded as unearned share-based compensation, a contra-equity account. The unearned compensation related to these awards is amortized to compensation expense over the vesting period (generally three to seven years). The total share-based compensation expense for these awards is determined based on the market price of the Company’s common stock at the date of grant applied to the total number of shares granted and is amortized over the vesting period. As of September 30, 2013, unearned share-based compensation associated with these awards totaled $23,253,000. | |||||||||||||||||
The following table represents the compensation expense that was included in salaries and employee benefits expense in the accompanying consolidated statements of income related to restricted stock grants: | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Compensation expense related to restricted stock | $ | 2,110 | $ | 1,973 | $ | 6,055 | $ | 5,638 | |||||||||
The following table represents unvested restricted stock award activity for the nine months ended September 30: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Balance at beginning of period | 538,202 | 512,112 | |||||||||||||||
Granted | 166,223 | 174,393 | |||||||||||||||
Forfeited | (27,483 | ) | (8,736 | ) | |||||||||||||
Earned and issued | (136,629 | ) | (120,644 | ) | |||||||||||||
Balance at end of period | 540,313 | 557,125 | |||||||||||||||
Phantom stock awards | |||||||||||||||||
As part of the 2008 Incentive Compensation Plan and 2009 Phantom Stock Plan, the Company issues phantom stock awards to certain key officers and employees. The award is subject to a vesting period of five to seven years and is paid out in cash upon vesting. The amount paid per vesting period is calculated as the number of vested “share equivalents” multiplied by the closing market price of a share of the Company’s common stock on the vesting date. Share equivalents are calculated on the date of grant as the total award’s dollar value divided by the closing market price of a share of the Company’s common stock on the grant date. Award recipients are also entitled to a “dividend equivalent” on each unvested share equivalent held by the award recipient. A dividend equivalent is a dollar amount equal to the cash dividends that the participant would have been entitled to receive if the participant’s share equivalents were issued in shares of common stock. Dividend equivalents will be deemed to be reinvested as share equivalents that will vest and be paid out on the same date as the underlying share equivalents on which the dividend equivalents were paid. The number of share equivalents acquired with a dividend equivalent is determined by dividing the aggregate of dividend equivalents paid on the unvested share equivalents by the closing price of a share of the Company’s common stock on the dividend payment date. | |||||||||||||||||
The following table indicates compensation expense recorded for phantom stock based on the number of share equivalents vested at the end of the period and the current market price of the Company’s stock. | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Compensation expense related to phantom stock | $ | 792 | $ | 245 | $ | 2,602 | $ | 1,426 | |||||||||
The following table represents phantom stock award activity during the periods indicated. | |||||||||||||||||
Number of share | Dividend | Total share | Value of share | ||||||||||||||
equivalents | equivalents | equivalents | equivalents (1) | ||||||||||||||
Balance, December 31, 2011 | 232,921 | 8,942 | 241,863 | $ | 11,924,000 | ||||||||||||
Granted | 117,506 | 6,852 | 124,358 | 5,696,000 | |||||||||||||
Forfeited share equivalents | (8,052 | ) | (242 | ) | (8,294 | ) | (380,000 | ) | |||||||||
Vested share equivalents | (16,735 | ) | (1,144 | ) | (17,879 | ) | (894,000 | ) | |||||||||
Balance, September 30, 2012 | 325,640 | 14,408 | 340,048 | $ | 15,574,000 | ||||||||||||
Balance, December 31, 2012 | 318,729 | 16,035 | 334,764 | $ | 16,444,000 | ||||||||||||
Granted | 166,664 | 8,793 | 175,457 | 9,108,000 | |||||||||||||
Forfeited share equivalents | (16,381 | ) | (681 | ) | (17,062 | ) | (886,000 | ) | |||||||||
Vested share equivalents | (45,065 | ) | (3,327 | ) | (48,392 | ) | (2,453,000 | ) | |||||||||
Balance, September 30, 2013 | 423,947 | 20,820 | 444,767 | $ | 23,088,000 | ||||||||||||
(1) | Except for share equivalents at the beginning of each period, which are based on the value at that time, and vested share payments, which are based on the cash paid at the time of vesting, the value of share equivalents is calculated based on the market price of the Company’s stock at the end of the respective periods. The market price of the Company’s stock was $51.91 and $45.80 on September 30, 2013 and 2012, respectively. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and Contingencies | ' | ||||||||
NOTE 15 – COMMITMENTS AND CONTINGENCIES | |||||||||
Off-balance sheet commitments | |||||||||
The Company is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The credit policies used for these commitments are consistent with those used for on-balance sheet instruments. The Company’s exposure to credit loss in the event of nonperformance by other parties represents the contractual amount of the financial instruments. At September 30, 2013, the fair value of guarantees under commercial and standby letters of credit was $1,067,000. This amount represents the unamortized fee associated with these guarantees and is included in the consolidated balance sheets of the Company. This fair value will decrease as the existing commercial and standby letters of credit approach their expiration dates. | |||||||||
The Company had the following financial instruments outstanding, whose contract amounts represent credit risk: | |||||||||
(Dollars in thousands) | September 30 | December 31 | |||||||
2013 | 2012 | ||||||||
Commitments to grant loans | $ | 342,494 | $ | 192,295 | |||||
Unfunded commitments under lines of credit | 2,972,046 | 2,372,971 | |||||||
Commercial and standby letters of credit | 106,652 | 62,207 | |||||||
Reserve for unfunded lending commitments | 11,959 | — | |||||||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to be drawn upon, the total commitment amounts generally represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral, if any, is based on management’s credit evaluation of the counterparty. | |||||||||
Unfunded commitments under commercial lines-of-credit, revolving credit lines and overdraft protection agreements are commitments for possible future extensions of credit to existing customers. Many of these types of commitments do not contain a specified maturity date and may not be drawn upon to the total extent to which the Company is committed. See Note 7 for additional discussion related to the Company’s unfunded lending commitments. | |||||||||
Commercial and standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper issuance, bond financing, and similar transactions. The credit risk involved in issuing letters or credit is essentially the same as that involved in extending loan facilities to customers and as such, are collateralized when necessary, generally in the form of marketable securities and cash equivalents. | |||||||||
Legal proceedings | |||||||||
The nature of the business of the Company’s banking and other subsidiaries ordinarily results in a certain amount of claims, litigation, investigations and legal and administrative cases and proceedings, all of which are considered incidental to the normal conduct of business. Some of these claims are against entities or assets of which the Company is a successor or acquired in business acquisitions, and certain of these claims will be covered by loss sharing agreements with the FDIC. The Company has asserted defenses to these litigations and, with respect to such legal proceedings, intends to continue to defend itself vigorously, litigating or settling cases according to management’s judgment as to what is in the best interest of the Company and its shareholders. | |||||||||
The Company assesses its liabilities and contingencies in connection with outstanding legal proceedings utilizing the latest information available. Where it is probable that the Company will incur a loss and the amount of the loss can be reasonably estimated, the Company records a liability in its consolidated financial statements. These legal reserves may be increased or decreased to reflect any relevant developments on a quarterly basis. Where a loss is not probable or the amount of loss is not estimable, the Company does not accrue legal reserves. While the outcome of legal proceedings is inherently uncertain, based on information currently available, advice of counsel and available insurance coverage, the Company’s management believes that it has established appropriate legal reserves. Any liabilities arising from pending legal proceedings are not expected to have a material adverse effect on the Company’s consolidated financial position, consolidated results of operations or consolidated cash flows. However, in the event of unexpected future developments, it is possible that the ultimate resolution of these matters, if unfavorable, may be material to the Company’s consolidated financial position, consolidated results of operations or consolidated cash flows. | |||||||||
As of the date of this filing, the Company believes it is reasonably possible to incur losses above amounts already accrued associated with legal proceedings between $0.5 million and $2.2 million. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
NOTE 16 – FAIR VALUE MEASUREMENTS | |||||||||||||||||
The Company has segregated all financial assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to estimate the fair value at the measurement date in the tables below. | |||||||||||||||||
(Dollars in thousands) | September 30, 2013 | ||||||||||||||||
Assets | (Level 1) | (Level 2) | (Level 3) | Total | |||||||||||||
Available for sale securities | $ | 15,220 | $ | 1,949,169 | $ | — | $ | 1,964,389 | |||||||||
Derivative instruments | — | 32,469 | — | 32,469 | |||||||||||||
Total | $ | 15,220 | $ | 1,981,638 | $ | — | $ | 1,996,858 | |||||||||
Liabilities | |||||||||||||||||
Derivative instruments | — | 31,521 | — | 31,521 | |||||||||||||
Total | $ | — | $ | 31,521 | $ | — | $ | 31,521 | |||||||||
(Dollars in thousands) | 31-Dec-12 | ||||||||||||||||
Assets | (Level 1) | (Level 2) | (Level 3) | Total | |||||||||||||
Available for sale securities | $ | — | $ | 1,745,004 | $ | — | $ | 1,745,004 | |||||||||
Derivative instruments | — | 42,119 | — | 42,119 | |||||||||||||
Total | $ | — | $ | 1,787,123 | $ | — | $ | 1,787,123 | |||||||||
Liabilities | |||||||||||||||||
Derivative instruments | — | 36,890 | — | 36,890 | |||||||||||||
Total | $ | — | $ | 36,890 | $ | — | $ | 36,890 | |||||||||
During 2013, available for sale securities with a market value of $15,220,000 were purchased and included in the Level 1 fair value measurement category in the table above. The security was issued by Fannie Mae and was included in the Level 1 category at September 30, 2013 based on a recent trade price in the open market. | |||||||||||||||||
Gains and losses (realized and unrealized) included in earnings (or changes in net assets) for the first nine months of 2013 related to assets and liabilities measured at fair value on a recurring basis are reported in noninterest income or other comprehensive income as follows: | |||||||||||||||||
(Dollars in thousands) | Noninterest | Other | |||||||||||||||
income | comprehensive | ||||||||||||||||
income | |||||||||||||||||
Total gains (losses) included in earnings (or changes in net assets) | $ | (1,056 | ) | $ | — | ||||||||||||
Change in unrealized gains (losses) relating to assets still held at September 30, 2013 | — | (25,794 | ) | ||||||||||||||
The Company has segregated all financial assets and liabilities that are measured at fair value on a nonrecurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the tables below. | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
(Dollars in thousands) | (Level 1) | (Level 2) | (Level 3) | Total | |||||||||||||
Assets | |||||||||||||||||
Loans | $ | — | $ | 1,932 | $ | — | $ | 1,932 | |||||||||
Mortgage loans held for sale | — | 3,213 | — | 3,213 | |||||||||||||
OREO | — | 20,427 | — | 20,427 | |||||||||||||
Total | $ | — | $ | 25,572 | $ | — | $ | 25,572 | |||||||||
December 31, 2012 | |||||||||||||||||
(Dollars in thousands) | (Level 1) | (Level 2) | (Level 3) | Total | |||||||||||||
Assets | |||||||||||||||||
Loans | $ | — | $ | 6,388 | $ | — | $ | 6,388 | |||||||||
Mortgage loans held for sale | — | 32,753 | — | 32,753 | |||||||||||||
OREO | — | 20,427 | — | 20,427 | |||||||||||||
Total | $ | — | $ | 59,568 | $ | — | $ | 59,568 | |||||||||
The tables above exclude the initial measurement of assets and liabilities that were acquired as part of the Florida Gulf, OMNI, Cameron, and Florida Trust Company acquisitions completed in 2012 and 2011. These assets and liabilities were recorded at their fair value upon acquisition in accordance with generally-accepted accounting principles and were not re-measured during the periods presented unless specifically required by generally accepted accounting principles. Acquisition date fair values represent either Level 2 fair value measurements (investment securities, OREO, property, equipment, and debt) or Level 3 fair value measurements (loans, deposits, and core deposit intangible asset). | |||||||||||||||||
In accordance with the provisions of ASC Topic 310, the Company records loans considered impaired at their estimated fair value. A loan is considered impaired if it is probable the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Fair value is measured at the estimated fair value of the collateral for collateral-dependent loans. Impaired non-covered loans with an outstanding balance of $3,024,000 were recorded at their fair value at September 30, 2013. These loans include a reserve of $1,092,000 included in the Company’s allowance for credit losses at September 30, 2013. Impaired non-covered loans with an outstanding balance of $7,269,000 were recorded at their fair value at December 31, 2012. These loans include a reserve of $880,000 included in the Company’s allowance for credit losses at December 31, 2012. | |||||||||||||||||
During the second quarter of 2013, the Company announced plans to close ten branches during the second and third quarters of 2013 as part of its business strategy. The Company has notified customers of these branches and has received the required regulatory approvals to proceed with closure. The Company reviewed the carrying amount of the owned properties and concluded it exceeded the fair value of these branches at that date. As a result, the Company recorded an impairment loss in other noninterest expense of $0 in its consolidated statement of comprehensive income for the nine months ended September 30, 2013. After the impairment loss, the carrying value of the branches was $0 and is included in OREO (as real estate acquired for development or resale) on the Company’s consolidated balance sheet at September 30, 2013. | |||||||||||||||||
Fair value of the branches was based on a third-party broker opinion of value using both a comparable sales and cash flow approach. The Company did not modify the third-party pricing information for unobservable inputs. | |||||||||||||||||
The Company did not record any liabilities at fair value for which measurement of the fair value was made on a nonrecurring basis during the nine months ended September 30, 2013 and 2012. | |||||||||||||||||
The Company may elect the fair value option, which permits the Company to choose to measure eligible financial assets and liabilities at fair value at specified election dates and recognize prospective changes in unrealized gains and losses on items for which the fair value option has been elected in earnings at each reporting date. The Company has currently chosen not to elect the fair value option for any items that are not already required to be measured at fair value in accordance with generally accepted accounting principles, and as such has not included any gains or losses in earnings for the nine months ended September 30, 2013 and 2012. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||
NOTE 17 – FAIR VALUE OF FINANCIAL INSTRUMENTS | |||||||||||||||||
The estimated fair value of a financial instrument is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. ASC Topic 825 excludes certain financial instruments and all non-financial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. | |||||||||||||||||
The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value. Refer to Note 1 to these financial statements for the methods and assumptions used to measure the fair value of investment securities and derivative instruments. | |||||||||||||||||
Cash and cash equivalents | |||||||||||||||||
The carrying amounts of cash and cash equivalents approximate their fair value. | |||||||||||||||||
Loans | |||||||||||||||||
The fair values of non-covered mortgage loans receivable are estimated based on present values using entry-value rates (the interest rate that would be charged for a similar loan to a borrower with similar risk at the indicated balance sheet date) at September 30, 2013 and December 31, 2012, weighted for varying maturity dates. Other non-covered loans receivable are valued based on present values using entry-value interest rates at September 30, 2013 and December 31, 2012 applicable to each category of loans, which would be classified within Level 3 of the hierarchy. Fair values of mortgage loans held for sale are based on commitments on hand from investors or prevailing market prices. Covered loans are measured using projections of expected cash flows, exclusive of the shared-loss agreements with the FDIC. Fair value of the covered loans included in the table below reflects the current fair value of these loans, which is based on an updated estimate of the projected cash flow as of the dates indicated. The fair value associated with the loans include estimates related to expected prepayments and the amount and timing of undiscounted expected principal, interest and other cash flows, which also would be classified within Level 3 of the hierarchy. | |||||||||||||||||
Accrued Interest Receivable and Accrued Interest Payable: The carrying amount of accrued interest approximates fair value because of the short maturity of these financial instruments. | |||||||||||||||||
FDIC Loss Share Receivable: The fair value is determined using projected cash flows from loss sharing agreements based on expected reimbursements for losses at the applicable loss sharing percentages based on the terms of the loss share agreements. Cash flows are discounted to reflect the timing and receipt of the loss sharing reimbursements from the FDIC. The fair value of the Company’s FDIC loss share receivable would be categorized within Level 3 of the hierarchy. | |||||||||||||||||
Deposits | |||||||||||||||||
The fair values of NOW accounts, money market deposits and savings accounts are the amounts payable on demand at the reporting date. Certificates of deposit were valued using a discounted cash flow model based on the weighted-average rate at September 30, 2013 and December 31, 2012 for deposits with similar remaining maturities. The fair value of the Company’s deposits would therefore be categorized within Level 3 of the fair value hierarchy. | |||||||||||||||||
Short-term borrowings | |||||||||||||||||
The carrying amounts of short-term borrowings maturing within ninety days approximate their fair values. | |||||||||||||||||
Long-term debt | |||||||||||||||||
The fair values of long-term debt are estimated using discounted cash flow analyses based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. The fair value of the Company’s long-term debt would therefore be categorized within Level 3 of the fair value hierarchy. | |||||||||||||||||
Off-balance sheet items | |||||||||||||||||
The Company has outstanding commitments to extend credit and standby letters of credit. These off-balance sheet financial instruments are generally exercisable at the market rate prevailing at the date the underlying transaction will be completed. At September 30, 2013 and December 31, 2012, the fair value of guarantees under commercial and standby letters of credit was immaterial. | |||||||||||||||||
The estimated fair values and carrying amounts of the Company’s financial instruments are as follows: | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
(Dollars in thousands) | Carrying | Fair | Carrying | Fair | |||||||||||||
Amount | Value | Amount | Value | ||||||||||||||
Financial Assets | |||||||||||||||||
Cash and cash equivalents | $ | 553,447 | $ | 553,447 | $ | 970,977 | $ | 970,977 | |||||||||
Investment securities | 2,120,067 | 2,119,699 | 1,950,066 | 1,956,502 | |||||||||||||
Loans and loans held for sale | 9,151,322 | 9,257,560 | 8,766,054 | 8,800,563 | |||||||||||||
FDIC loss share receivable | 204,885 | 59,512 | 423,069 | 207,222 | |||||||||||||
Derivative instruments | 32,469 | 32,469 | 42,119 | 42,119 | |||||||||||||
Accrued interest receivable | 31,296 | 31,296 | 32,183 | 32,183 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | $ | 10,950,764 | $ | 10,533,414 | $ | 10,748,277 | $ | 10,594,885 | |||||||||
Short-term borrowings | 258,850 | 258,850 | 303,045 | 303,045 | |||||||||||||
Long-term debt | 281,101 | 239,506 | 423,377 | 394,490 | |||||||||||||
Derivative instruments | 31,521 | 31,521 | 36,890 | 36,890 | |||||||||||||
Accrued interest payable | 6,026 | 6,026 | 6,615 | 6,615 | |||||||||||||
The fair value estimates presented herein are based upon pertinent information available to management as of September 30, 2013 and December 31, 2012. Although management is not aware of any factors that would significantly affect the estimated fair value amounts, such amounts have not been comprehensively revalued for purposes of these financial statements since that date and, therefore, current estimates of fair value may differ significantly from the amounts presented herein. |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Principles of Consolidation | ' | |||
PRINCIPLES OF CONSOLIDATION | ||||
The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, IBERIABANK, Lenders Title Company (“LTC”), IBERIA Capital Partners L.L.C. (“ICP”), IB Aircraft Holdings, LLC, IBERIA Asset Management Inc. (“IAM”), and IBERIA CDE, LLC (“CDE”). All significant intercompany balances and transactions have been eliminated in consolidation. All normal, recurring adjustments which, in the opinion of management are necessary for a fair presentation of the financial statements, have been included. Certain amounts reported in prior periods have been reclassified to conform to the current period presentation. | ||||
Nature of Operations | ' | |||
NATURE OF OPERATIONS | ||||
The Company offers commercial and retail banking products and services to customers throughout locations in six states through IBERIABANK. The Company also operates mortgage production offices in twelve states through IBERIABANK Mortgage Company (“IMC”), and offers a full line of title insurance and closing services throughout Arkansas and Louisiana through LTC and its subsidiaries. ICP provides equity research, institutional sales and trading, and corporate finance services. IB Aircraft Holdings, LLC owns a fractional share of an aircraft used by management of the Company and its subsidiaries. IAM provides wealth management and trust services for commercial and private banking clients. CDE is engaged in the purchase of tax credits. | ||||
Use of Estimates | ' | |||
USE OF ESTIMATES | ||||
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are susceptible to significant change in the near term are the allowance for credit losses, valuation of and accounting for loans covered by loss sharing arrangements with the FDIC and the related loss share receivables, valuation of and accounting for acquired loans, and valuation of goodwill, intangible assets and other purchase accounting adjustments. | ||||
Concentration of Credit Risks | ' | |||
CONCENTRATION OF CREDIT RISKS | ||||
Most of the Company’s business activity is with customers located within the States of Louisiana, Florida, Arkansas, Alabama, Texas, and Tennessee. The Company’s lending activity is concentrated in its market areas in those states. The Company has emphasized originations of commercial loans and private banking loans, defined as loans to larger consumer clients. Repayments on loans are expected to come from cash flows of the borrower and/or guarantor. Losses on secured loans are limited by the value of the collateral upon default of the borrowers. The Company does not have any significant concentrations to any one industry or customer. | ||||
Segments | ' | |||
SEGMENTS | ||||
All of the Company’s banking operations are considered by management to be aggregated in one reportable operating segment. Because the overall banking operations comprise substantially all of the consolidated operations and none of the Company’s other subsidiaries, either individually or in the aggregate, meet quantitative materiality thresholds, no separate segment disclosures are presented in these consolidated financial statements. The Company has invested in its financial reporting infrastructure to report financial information associated with performance of segments. The Company anticipates reporting this information at the end of 2013. | ||||
FDIC Loss Share Receivable | ' | |||
FDIC LOSS SHARE RECEIVABLE | ||||
Because the FDIC reimburses the Company for losses on certain loans acquired in 2009 and 2010, indemnification assets were recorded at fair value as of the acquisition dates. The initial values of the indemnification assets were based on estimated cash flows to be received over the expected life of the acquired assets, not to exceed the term of the indemnification agreements. The loss sharing terms of the Company’s commercial and single family residential indemnification agreements are five years and ten years, respectively, from the date of acquisition. | ||||
Because the indemnification assets are measured on the same basis as the indemnified loans, subject to contractual and collectability limitations, the indemnification assets are impacted by changes in expected cash flows on covered assets. Increases in credit losses expected to occur within the loss share term are recorded as current period increases to the allowance for credit losses and increase the amount collectible from the FDIC by the applicable loss share percentage. Decreases in credit losses expected to occur within loss share term reduce the amount collectible from the FDIC and increase the amount collectible from customers in the form of prospective accretion on loans. Increases in the portion of indemnification asset collectible from customers are amortized to income. Periodic amortization represents the amount that is expected to result in symmetrical recognition of pool-level accretion and amortization over the shorter of 1) the life of the loan or 2) the life of the shared loss agreement. | ||||
The Company assesses the indemnification assets for collectability at the acquisition level based on three sources: 1) the FDIC, 2) OREO transactions, and 3) customers. Amounts collectible from the FDIC through loss reimbursements are comprised of losses currently expected within the loss share term. A current period impairment would be recorded to the extent that events or circumstances indicate that losses previously expected to occur within the loss share term are expected to occur subsequent to loss share termination. Amounts collectible through expected gains on the sale of OREO are written-up or impaired each period based on the best available information. Amounts collectible from customers in the form of accretion are deemed collectible to the extent that net acquisition-level yield, which primarily consists of accretion and indemnification asset amortization, are expected to remain positive over the life of the shared loss agreement. Impairment of amounts collectible from customers would be recorded as a current period charge to income, to the extent required to maintain the zero net yield floor. | ||||
Loss assumptions used to measure the basis of the indemnified loans are consistent with the loss assumptions used to measure the indemnification assets. | ||||
A claim receivable is established within other assets when a loss is incurred and the indemnification asset is reduced when cash is received from the FDIC. | ||||
Fair Value Measurements | ' | |||
FAIR VALUE MEASUREMENTS | ||||
The Company estimates fair value based on the assumptions market participants would use when selling an asset or transferring a liability and characterizes such measurements within the fair value hierarchy based on the inputs used to develop those assumptions and measure fair value. The hierarchy requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: | ||||
• | Level 1 - Quoted prices in active markets for identical assets or liabilities. | |||
• | Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. | |||
• | Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. | |||
A description of the valuation methodologies used for instruments measured at fair value follows, as well as the classification of such instruments within the valuation hierarchy. | ||||
Investment securities | ||||
Securities are classified within Level 1 where quoted market prices are available in an active market. Inputs include securities that have quoted prices in active markets for identical assets. If quoted market prices are unavailable, fair value is estimated using quoted prices of securities with similar characteristics, at which point the securities would be classified within Level 2 of the hierarchy. Examples may include certain collateralized mortgage and debt obligations. | ||||
Mortgage loans held for sale | ||||
As of September 30, 2013, the Company has $108,285,000 of conforming mortgage loans held for sale. Mortgage loans originated and held for sale are carried at the lower of cost or estimated fair value. The Company obtains quotes or bids on these loans directly from purchasing financial institutions. Mortgage loans held for sale that were recorded at estimated fair value are included in Note 16. | ||||
Impaired loans | ||||
Loans are measured for impairment using the methods permitted by Accounting Standards Codification (“ASC”) Topic 310. Fair value measurements are used in determining impairment using either the loan’s obtainable market price, if available (Level 1) or the fair value of the collateral if the loan is collateral dependent (Level 2). Measuring the impairment of loans using the present value of expected future cash flows, discounted at the loan’s effective interest rate, is not considered a fair value measurement. Fair value of the collateral is determined by appraisals or independent valuation. | ||||
Other real estate owned (OREO) | ||||
Fair values of OREO at September 30, 2013 are determined by sales agreement or appraisal, and costs to sell are based on estimation per the terms and conditions of the sales agreement or amounts commonly used in real estate transactions. Inputs include appraisal values on the properties or recent sales activity for similar assets in the property’s market, and thus OREO measured at fair value would be classified within Level 2 of the hierarchy. The Company included property write-downs of $1,437,000 and $867,000 in earnings for the three months ended September 30, 2013 and 2012, respectively, and $3,993,000 and $4,900,000 for the nine months ended September 30, 2013 and 2012, respectively. | ||||
Derivative financial instruments | ||||
The Company may utilize interest rate swap agreements to convert a portion of its variable-rate debt to a fixed rate (cash flow hedge). The Company also enters into commitments to originate loans whereby the interest rate on the prospective loan is determined prior to funding (“rate lock commitments”). Rate lock commitments on mortgage loans that are intended to be sold are considered to be derivatives. The Company offers its customers a certificate of deposit that provides the purchaser a guaranteed return of principal at maturity plus potential return, which allows the Company to identify a known cost of funds. The rate of return is based on an equity index, and as such represents an embedded derivative. Fair value of interest rate swaps, interest rate lock commitments, forward sales contracts, and equity-linked written and purchased options are estimated using prices of financial instruments with similar characteristics, and thus are classified within Level 2 of the fair value hierarchy. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Schedule of Calculation of Basic and Diluted Earnings Per Share | ' | ||||||||||||||||
The following table presents the calculation of basic and diluted earnings per share. | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
30-Sep | 30-Sep | ||||||||||||||||
(Dollars in thousands, except per share data) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Income available to common shareholders | $ | 23,192 | $ | 21,234 | $ | 39,499 | $ | 53,187 | |||||||||
Distributed earnings to unvested restricted stock | (421 | ) | (401 | ) | (744 | ) | (1,009 | ) | |||||||||
Distributed earnings to common shareholders - basic | 22,771 | 20,833 | 38,755 | 52,178 | |||||||||||||
Undistributed earnings reallocated to unvested restricted stock | (4 | ) | (5 | ) | — | 2 | |||||||||||
Distributed and undistributed earnings to common shareholders - diluted | $ | 22,767 | $ | 20,828 | $ | 38,755 | $ | 52,180 | |||||||||
Weighted average shares outstanding - basic (1) | 29,631,799 | 29,066,000 | 29,582,081 | 29,303,849 | |||||||||||||
Weighted average shares outstanding - diluted | 29,147,232 | 28,548,432 | 29,062,238 | 28,812,631 | |||||||||||||
Earnings per common share - basic | $ | 0.78 | $ | 0.73 | $ | 1.34 | $ | 1.81 | |||||||||
Earnings per common share - diluted | 0.78 | 0.73 | 1.33 | 1.81 | |||||||||||||
Earnings per unvested restricted stock share - basic | 0.77 | 0.71 | 1.33 | 1.82 | |||||||||||||
Earnings per unvested restricted stock share - diluted | 0.78 | 0.72 | 1.33 | 1.82 | |||||||||||||
-1 | Weighted average basic shares outstanding include 547,155 and 563,061 shares of unvested restricted stock for the three months ended September 30, 2013 and 2012, respectively, and 559,556 and 554,041 shares for the nine months ended September 30, 2013 and 2012, respectively. | ||||||||||||||||
Schedule of Basic Earnings Per Common Share | ' | ||||||||||||||||
Additional information on the Company’s basic earnings per common share is shown in the following table. | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands, except per share data) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Distributed earnings to common shareholders | $ | 9,926 | $ | 9,826 | $ | 29,736 | $ | 29,695 | |||||||||
Undistributed earnings to common shareholders | 12,845 | 11,007 | 9,019 | 22,483 | |||||||||||||
Total earnings to common shareholders | $ | 22,771 | $ | 20,833 | $ | 38,755 | $ | 52,178 | |||||||||
Distributed earnings to unvested restricted stock | $ | 183 | $ | 189 | $ | 571 | $ | 574 | |||||||||
Undistributed earnings to unvested restricted stock | 238 | 212 | 173 | 435 | |||||||||||||
Total earnings allocated to unvested restricted stock | $ | 421 | $ | 401 | $ | 744 | $ | 1,009 | |||||||||
Distributed earnings per common share | $ | 0.34 | $ | 0.34 | $ | 1.03 | $ | 1.03 | |||||||||
Undistributed earnings per common share | 0.44 | 0.39 | 0.31 | 0.78 | |||||||||||||
Total earnings per common share - basic | $ | 0.78 | $ | 0.73 | $ | 1.34 | $ | 1.81 | |||||||||
Distributed earnings per unvested restricted stock share | $ | 0.34 | $ | 0.34 | $ | 1.02 | $ | 1.04 | |||||||||
Undistributed earnings per unvested restricted stock share | 0.43 | 0.37 | 0.31 | 0.78 | |||||||||||||
Total earnings per unvested restricted stock share - basic | $ | 0.77 | $ | 0.71 | $ | 1.33 | $ | 1.82 | |||||||||
Acquisition_and_Disposition_Ac1
Acquisition and Disposition Activity (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Schedule of Branch Closure Costs | ' | ||||||||||||||||
The following table shows the costs the Company incurred that are included in its statements of comprehensive income for the periods indicated. | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Employee termination | $ | (70 | ) | $ | 384 | $ | 299 | $ | 384 | ||||||||
Accelerated depreciation | 352 | 284 | 1,033 | 284 | |||||||||||||
Contract termination | 591 | — | 591 | — | |||||||||||||
Impairment | 323 | 2,743 | 4,941 | 2,743 | |||||||||||||
$ | 1,196 | $ | 3,411 | $ | 6,864 | $ | 3,411 | ||||||||||
Investment_Securities_Tables
Investment Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Amortized Cost and Fair Values of Investment Securities, with Gross Unrealized Gains and Losses | ' | ||||||||||||||||||||||||
The amortized cost and fair values of investment securities, with gross unrealized gains and losses, consist of the following: | |||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Gross | Gross | Estimated | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Gains | Losses | Value | |||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 407,049 | $ | 1,878 | $ | (7,127 | ) | $ | 401,800 | ||||||||||||||||
Obligations of state and political obligations | 109,509 | 2,967 | (235 | ) | 112,241 | ||||||||||||||||||||
Mortgage-backed securities | 1,449,275 | 14,928 | (15,337 | ) | 1,448,866 | ||||||||||||||||||||
Other securities | 1,460 | 22 | — | 1,482 | |||||||||||||||||||||
Total securities available for sale | $ | 1,967,293 | $ | 19,795 | $ | (22,699 | ) | $ | 1,964,389 | ||||||||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 34,471 | $ | 650 | $ | — | $ | 35,121 | |||||||||||||||||
Obligations of state and political obligations | 84,471 | 1,735 | (1,425 | ) | 84,781 | ||||||||||||||||||||
Mortgage-backed securities | 36,736 | 293 | (1,621 | ) | 35,408 | ||||||||||||||||||||
Total securities held to maturity | $ | 155,678 | $ | 2,678 | $ | (3,046 | ) | $ | 155,310 | ||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Gross | Gross | Estimated | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Gains | Losses | Value | |||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 281,746 | $ | 4,364 | $ | (386 | ) | $ | 285,724 | ||||||||||||||||
Obligations of state and political obligations | 120,680 | 6,573 | (178 | ) | 127,075 | ||||||||||||||||||||
Mortgage-backed securities | 1,303,030 | 29,108 | (1,482 | ) | 1,330,656 | ||||||||||||||||||||
Other securities | 1,460 | 89 | — | 1,549 | |||||||||||||||||||||
Total securities available for sale | $ | 1,706,916 | $ | 40,134 | $ | (2,046 | ) | $ | 1,745,004 | ||||||||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 69,949 | $ | 1,244 | $ | — | $ | 71,193 | |||||||||||||||||
Obligations of state and political obligations | 88,909 | 4,730 | (113 | ) | 93,526 | ||||||||||||||||||||
Mortgage-backed securities | 46,204 | 728 | (153 | ) | 46,779 | ||||||||||||||||||||
Total securities held to maturity | $ | 205,062 | $ | 6,702 | $ | (266 | ) | $ | 211,498 | ||||||||||||||||
Schedule of Securities with Gross Unrealized Losses Aggregated by Investment Category | ' | ||||||||||||||||||||||||
Information pertaining to securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position, is as follows: | |||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
Less Than Twelve Months | Over Twelve Months | Total | |||||||||||||||||||||||
(Dollars in thousands) | Gross | Estimated | Gross | Estimated | Gross | Estimated | |||||||||||||||||||
Unrealized | Fair | Unrealized | Fair | Unrealized | Fair | ||||||||||||||||||||
Losses | Value | Losses | Value | Losses | Value | ||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | (7,127 | ) | $ | 274,195 | $ | — | $ | — | $ | (7,127 | ) | $ | 274,195 | |||||||||||
Obligations of state and political obligations | (10 | ) | 326 | (225 | ) | 1,047 | (235 | ) | 1,373 | ||||||||||||||||
Mortgage-backed securities | (14,096 | ) | 671,684 | (1,241 | ) | 38,600 | (15,337 | ) | 710,284 | ||||||||||||||||
Total securities available for sale | $ | (21,233 | ) | $ | 946,205 | $ | (1,466 | ) | $ | 39,647 | $ | (22,699 | ) | $ | 985,852 | ||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
Obligations of state and political obligations | $ | (1,308 | ) | $ | 28,433 | $ | (117 | ) | $ | 2,080 | $ | (1,425 | ) | $ | 30,513 | ||||||||||
Mortgage-backed securities | (850 | ) | 15,490 | (771 | ) | 9,805 | (1,621 | ) | 25,295 | ||||||||||||||||
Total securities held to maturity | $ | (2,158 | ) | $ | 43,923 | $ | (888 | ) | $ | 11,885 | $ | (3,046 | ) | $ | 55,808 | ||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Less Than Twelve Months | Over Twelve Months | Total | |||||||||||||||||||||||
(Dollars in thousands) | Gross | Estimated | Gross | Estimated | Gross | Estimated | |||||||||||||||||||
Unrealized | Fair | Unrealized | Fair | Unrealized | Fair | ||||||||||||||||||||
Losses | Value | Losses | Value | Losses | Value | ||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | (386 | ) | $ | 59,741 | $ | — | $ | — | $ | (386 | ) | $ | 59,741 | |||||||||||
Obligations of state and political obligations | — | — | (178 | ) | 1,094 | (178 | ) | 1,094 | |||||||||||||||||
Mortgage-backed securities | (1,473 | ) | 180,027 | (9 | ) | 3,919 | (1,482 | ) | 183,946 | ||||||||||||||||
Total securities available for sale | $ | (1,859 | ) | $ | 239,768 | $ | (187 | ) | $ | 5,013 | $ | (2,046 | ) | $ | 244,781 | ||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
Obligations of state and political obligations | $ | (113 | ) | $ | 8,242 | $ | — | $ | — | $ | (113 | ) | $ | 8,242 | |||||||||||
Mortgage-backed securities | (153 | ) | 16,262 | — | — | (153 | ) | 16,262 | |||||||||||||||||
Total securities held to maturity | $ | (266 | ) | $ | 24,504 | $ | — | $ | — | $ | (266 | ) | $ | 24,504 | |||||||||||
Schedule of Amortized Cost and Estimated Fair Value of Investment Securities by Maturity | ' | ||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities by maturity at September 30, 2013 are shown in the following table. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. Accordingly, actual maturities may differ from contractual maturities. | |||||||||||||||||||||||||
Securities Available for Sale | Securities Held to Maturity | ||||||||||||||||||||||||
(Dollars in thousands) | Weighted | Amortized | Estimated | Weighted | Amortized | Estimated | |||||||||||||||||||
Average | Cost | Fair | Average | Cost | Fair | ||||||||||||||||||||
Yield | Value | Yield | Value | ||||||||||||||||||||||
Within one year or less | 1.99 | % | $ | 16,230 | $ | 16,430 | 1.85 | % | $ | 24,541 | $ | 24,815 | |||||||||||||
One through five years | 1.38 | 220,047 | 220,114 | 3.01 | 18,071 | 18,685 | |||||||||||||||||||
After five through ten years | 1.98 | 596,282 | 597,600 | 2.6 | 24,599 | 25,040 | |||||||||||||||||||
Over ten years | 1.92 | 1,134,734 | 1,130,245 | 2.92 | 88,467 | 86,770 | |||||||||||||||||||
1.88 | % | $ | 1,967,293 | $ | 1,964,389 | 2.71 | % | $ | 155,678 | $ | 155,310 | ||||||||||||||
Schedule of Realized Gains and Losses from Sale of Securities Classified as Available for Sale | ' | ||||||||||||||||||||||||
The following is a summary of realized gains and losses from the sale of securities classified as available for sale. Gains or losses on securities sold are recorded on the trade date, using the specific identification method. | |||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | ||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Realized gains | $ | — | $ | 41 | $ | 2,369 | $ | 3,758 | |||||||||||||||||
Realized losses | (3 | ) | — | (110 | ) | (15 | ) | ||||||||||||||||||
$ | (3 | ) | $ | 41 | $ | 2,259 | $ | 3,743 | |||||||||||||||||
Schedule of Securities in Other Assets on Company's Consolidated Balance Sheets | ' | ||||||||||||||||||||||||
The Company included the following securities in “Other assets” on the consolidated balance sheets: | |||||||||||||||||||||||||
(Dollars in thousands) | September 30 | December 31 | |||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Federal Home Loan Bank (FHLB) stock | $ | 12,759 | $ | 16,860 | |||||||||||||||||||||
Federal Reserve Bank (FRB) stock | 28,098 | 28,155 | |||||||||||||||||||||||
Other investments | 1,306 | 1,201 | |||||||||||||||||||||||
$ | 42,163 | $ | 46,216 | ||||||||||||||||||||||
Loans_Receivable_Tables
Loans Receivable (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Schedule of Non-Covered Loans Outstanding | ' | ||||||||||||||||||||||||||||||||
Loans receivable consist of the following, segregated into non-covered and covered loans, for the periods indicated: | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | Non-covered loans | Covered loans | Total | ||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 3,320,333 | $ | 459,506 | $ | 3,779,839 | |||||||||||||||||||||||||||
Business | 2,643,822 | 40,422 | 2,684,244 | ||||||||||||||||||||||||||||||
5,964,155 | 499,928 | 6,464,083 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 402,354 | 153,515 | 555,869 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | 7,586 | — | 7,586 | ||||||||||||||||||||||||||||||
409,940 | 153,515 | 563,455 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 1,131,870 | 149,144 | 1,281,014 | ||||||||||||||||||||||||||||||
Indirect automobile | 369,755 | — | 369,755 | ||||||||||||||||||||||||||||||
Other | 360,315 | 4,415 | 364,730 | ||||||||||||||||||||||||||||||
1,861,940 | 153,559 | 2,015,499 | |||||||||||||||||||||||||||||||
$ | 8,236,035 | $ | 807,002 | $ | 9,043,037 | ||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | Non-covered loans | Covered loans | Total | ||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 2,990,700 | $ | 640,843 | $ | 3,631,543 | |||||||||||||||||||||||||||
Business | 2,450,667 | 87,051 | 2,537,718 | ||||||||||||||||||||||||||||||
5,441,367 | 727,894 | 6,169,261 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 284,019 | 187,164 | 471,183 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | 6,021 | — | 6,021 | ||||||||||||||||||||||||||||||
290,040 | 187,164 | 477,204 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 1,076,913 | 174,212 | 1,251,125 | ||||||||||||||||||||||||||||||
Indirect automobile | 327,985 | — | 327,985 | ||||||||||||||||||||||||||||||
Other | 269,519 | 3,486 | 273,005 | ||||||||||||||||||||||||||||||
1,674,417 | 177,698 | 1,852,115 | |||||||||||||||||||||||||||||||
$ | 7,405,824 | $ | 1,092,756 | $ | 8,498,580 | ||||||||||||||||||||||||||||
Schedule of Non-Covered Loans on Nonaccrual Status | ' | ||||||||||||||||||||||||||||||||
The following table provides the recorded investment of non-covered loans on nonaccrual status at September 30, 2013 and December 31, 2012. Nonaccrual loans in the table exclude acquired loans. | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 2,430 | $ | 5,479 | |||||||||||||||||||||||||||||
Commercial real estate - other | 9,488 | 23,475 | |||||||||||||||||||||||||||||||
Commercial business | 14,591 | 3,358 | |||||||||||||||||||||||||||||||
Residential prime | 8,501 | 8,367 | |||||||||||||||||||||||||||||||
Home equity | 7,092 | 5,635 | |||||||||||||||||||||||||||||||
Indirect automobile | 1,056 | 868 | |||||||||||||||||||||||||||||||
Credit card | 425 | 424 | |||||||||||||||||||||||||||||||
Other | 255 | 310 | |||||||||||||||||||||||||||||||
$ | 43,838 | $ | 47,916 | ||||||||||||||||||||||||||||||
Schedule of Carrying Amount of Acquired Covered Loans | ' | ||||||||||||||||||||||||||||||||
The carrying amount of the acquired covered loans at September 30, 2013 and December 31, 2012 consisted of loans determined to be impaired at the acquisition date, which are accounted for in accordance with ASC Topic 310-30, and loans that were considered to be performing at the acquisition date, accounted for by analogy to ASC Topic 310-30, as detailed in the following tables. | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | Acquired | Acquired | Total | ||||||||||||||||||||||||||||||
Impaired | Performing | Covered | |||||||||||||||||||||||||||||||
Loans | Loans | Loans | |||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 23,751 | $ | 435,755 | $ | 459,506 | |||||||||||||||||||||||||||
Business | — | 40,422 | 40,422 | ||||||||||||||||||||||||||||||
23,751 | 476,177 | 499,928 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 28,333 | 125,182 | 153,515 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | — | — | — | ||||||||||||||||||||||||||||||
28,333 | 125,182 | 153,515 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 25,195 | 123,949 | 149,144 | ||||||||||||||||||||||||||||||
Indirect automobile | — | — | — | ||||||||||||||||||||||||||||||
Other | 1,205 | 3,210 | 4,415 | ||||||||||||||||||||||||||||||
26,400 | 127,159 | 153,559 | |||||||||||||||||||||||||||||||
$ | 78,484 | $ | 728,518 | $ | 807,002 | ||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | Acquired | Acquired | Total | ||||||||||||||||||||||||||||||
Impaired | Performing | Covered | |||||||||||||||||||||||||||||||
Loans | Loans | Loans | |||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 167,742 | $ | 473,101 | $ | 640,843 | |||||||||||||||||||||||||||
Business | 2,757 | 84,294 | 87,051 | ||||||||||||||||||||||||||||||
170,499 | 557,395 | 727,894 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 20,232 | 166,932 | 187,164 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | — | — | — | ||||||||||||||||||||||||||||||
20,232 | 166,932 | 187,164 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 22,094 | 152,118 | 174,212 | ||||||||||||||||||||||||||||||
Indirect automobile | — | — | — | ||||||||||||||||||||||||||||||
Other | 820 | 2,666 | 3,486 | ||||||||||||||||||||||||||||||
22,914 | 154,784 | 177,698 | |||||||||||||||||||||||||||||||
$ | 213,645 | $ | 879,111 | $ | 1,092,756 | ||||||||||||||||||||||||||||
Summary of Changes in Accretable Yields of Acquired Loans | ' | ||||||||||||||||||||||||||||||||
The following is a summary of changes in the accretable yields of acquired loans during the nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Acquired | Acquired | Total | Acquired | Acquired | Total | |||||||||||||||||||||||||||
Impaired | Performing | Acquired | Impaired | Performing | Acquired | ||||||||||||||||||||||||||||
Loans | Loans | Loans | Loans | Loans | Loans | ||||||||||||||||||||||||||||
Balance at beginning of period | $ | 76,623 | $ | 279,770 | $ | 356,393 | $ | 83,834 | $ | 386,977 | $ | 470,811 | |||||||||||||||||||||
Transfers from nonaccretable difference to accretable yield | 6,148 | 34,480 | 40,628 | 1,062 | 4,245 | 5,307 | |||||||||||||||||||||||||||
Accretion | (13,519 | ) | (119,193 | ) | (132,712 | ) | (21,924 | ) | (165,247 | ) | (187,171 | ) | |||||||||||||||||||||
Changes in expected cash flows not affecting nonaccretable differences (1) | 10,561 | 81,173 | 91,734 | 10,964 | 46,197 | 57,161 | |||||||||||||||||||||||||||
Balance at end of period | $ | 79,813 | $ | 276,230 | $ | 356,043 | $ | 73,936 | $ | 272,172 | $ | 346,108 | |||||||||||||||||||||
-1 | Includes changes in cash flows expected to be collected due to the impact of changes in actual or expected timing of liquidation events, loan modifications, changes in interest rates and changes in prepayment assumptions. | ||||||||||||||||||||||||||||||||
Schedule of Troubled Debt Restructurings | ' | ||||||||||||||||||||||||||||||||
Information about the Company’s TDRs at September 30, 2013 and 2012 is presented in the following tables. | |||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||||
Accruing Loans | Accruing Loans | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | Past Due | Nonaccrual TDRs | Total TDRs | Current | Past Due | Nonaccrual TDRs | Total TDRs | |||||||||||||||||||||||||
> 30 days | > 30 days | ||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Commercial real estate - other | 411 | — | 5,601 | 6,012 | 370 | 264 | 18,985 | 19,619 | |||||||||||||||||||||||||
Commercial business | 1,056 | — | 12,610 | 13,666 | 19 | — | 1,884 | 1,903 | |||||||||||||||||||||||||
Residential prime | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Residential subprime | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Home equity | — | — | 263 | 263 | 94 | — | 224 | 318 | |||||||||||||||||||||||||
Indirect automobile | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
$ | 1,467 | $ | — | $ | 18,474 | $ | 19,941 | $ | 483 | $ | 264 | $ | 21,093 | $ | 21,840 | ||||||||||||||||||
Schedule of Modified TDRs | ' | ||||||||||||||||||||||||||||||||
The following table provides information on how the TDRs were modified during the periods indicated. | |||||||||||||||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||||||||||
September 30 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||||
Extended maturities | $ | — | $ | 412 | |||||||||||||||||||||||||||||
Interest rate adjustment | — | 481 | |||||||||||||||||||||||||||||||
Maturity and interest rate adjustment | — | 2,389 | |||||||||||||||||||||||||||||||
Movement to or extension of interest-rate only payments | — | 939 | |||||||||||||||||||||||||||||||
Forbearance | 11,210 | 170 | |||||||||||||||||||||||||||||||
$ | 11,210 | $ | 4,391 | ||||||||||||||||||||||||||||||
Non-Covered Loans Excluding Acquired Loans [Member] | ' | ||||||||||||||||||||||||||||||||
Schedule of Aging of Non-Covered Loans | ' | ||||||||||||||||||||||||||||||||
The following tables provide an analysis of the aging of non-covered loans as of September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||
Past Due (1) | Current | Total Non-covered | Recorded | ||||||||||||||||||||||||||||||
Loans, Net of | Investment > 90 days | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 days | 60-89 days | > 90 days | Total | Unearned Income | and Accruing | |||||||||||||||||||||||||||
Commercial real estate construction | $ | — | $ | — | $ | 2,430 | $ | 2,430 | $ | 380,665 | $ | 383,095 | $ | — | |||||||||||||||||||
Commercial real estate - other | 1,933 | — | 9,639 | 11,572 | 2,556,798 | 2,568,370 | 151 | ||||||||||||||||||||||||||
Commercial business | 1,743 | 6 | 14,591 | 16,340 | 2,573,065 | 2,589,405 | — | ||||||||||||||||||||||||||
Residential prime | 517 | 2,297 | 9,326 | 12,140 | 261,615 | 273,755 | 1,267 | ||||||||||||||||||||||||||
Residential subprime | — | — | 442 | 442 | 115,715 | 116,157 | — | ||||||||||||||||||||||||||
Home equity | 1,745 | 577 | 7,092 | 9,414 | 1,063,257 | 1,072,671 | — | ||||||||||||||||||||||||||
Indirect automobile | 1,719 | 439 | 1,056 | 3,214 | 364,094 | 367,308 | — | ||||||||||||||||||||||||||
Credit card | 184 | 102 | 425 | 711 | 59,225 | 59,936 | — | ||||||||||||||||||||||||||
Other | 684 | 460 | 255 | 1,399 | 287,477 | 288,876 | — | ||||||||||||||||||||||||||
$ | 8,525 | $ | 3,881 | $ | 45,256 | $ | 57,662 | $ | 7,661,911 | $ | 7,719,573 | $ | 1,418 | ||||||||||||||||||||
(1) | Past due loans include loans on nonaccrual status as of the period indicated. Nonaccrual loans are presented separately in the “Nonaccrual Loans” section below. | ||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||
Past Due(1) | Total Non-covered | Recorded | |||||||||||||||||||||||||||||||
Loans, Net of | Investment > 90 days | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 days | 60-89 days | > 90 days | Total | Current | Unearned Income | and Accruing | ||||||||||||||||||||||||||
Commercial real estate construction | $ | 60 | $ | — | $ | 5,479 | $ | 5,539 | $ | 288,137 | $ | 293,676 | $ | — | |||||||||||||||||||
Commercial real estate - other | 3,590 | — | 23,559 | 27,149 | 2,224,495 | 2,251,644 | 83 | ||||||||||||||||||||||||||
Commercial business | 1,430 | 13 | 3,687 | 5,130 | 2,362,304 | 2,367,434 | 329 | ||||||||||||||||||||||||||
Residential prime | 662 | 1,156 | 9,168 | 10,986 | 185,843 | 196,829 | 801 | ||||||||||||||||||||||||||
Residential subprime | — | — | — | — | 60,454 | 60,454 | — | ||||||||||||||||||||||||||
Home equity | 2,283 | 796 | 5,793 | 8,872 | 991,766 | 1,000,638 | 158 | ||||||||||||||||||||||||||
Indirect automobile | 1,624 | 326 | 868 | 2,818 | 320,148 | 322,966 | — | ||||||||||||||||||||||||||
Credit card | 130 | 51 | 424 | 605 | 51,117 | 51,722 | — | ||||||||||||||||||||||||||
Other | 566 | 105 | 310 | 981 | 201,161 | 202,142 | — | ||||||||||||||||||||||||||
$ | 10,345 | $ | 2,447 | $ | 49,288 | $ | 62,080 | $ | 6,685,425 | $ | 6,747,505 | $ | 1,371 | ||||||||||||||||||||
(1) | Past due loans include loans on nonaccrual status as of the period indicated. Nonaccrual loans are presented separately in the “Nonaccrual Loans” section below. | ||||||||||||||||||||||||||||||||
Non-Covered Acquired Loans [Member] | ' | ||||||||||||||||||||||||||||||||
Schedule of Aging of Non-Covered Loans | ' | ||||||||||||||||||||||||||||||||
The following tables provide an analysis of the aging of non-covered loans as of September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||
Past Due (1) | Total Non-covered | Recorded | |||||||||||||||||||||||||||||||
Loans, Net of | Investment > 90 days | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 days | 60-89 days | > 90 days | Total | Current | Discount | Unearned Income | and Accruing | |||||||||||||||||||||||||
Commercial real estate construction | $ | 97 | $ | — | $ | 3,457 | $ | 3,554 | $ | 15,020 | $ | (1,928 | ) | $ | 16,646 | $ | 3,457 | ||||||||||||||||
Commercial real estate - other | 2,240 | 438 | 33,484 | 36,162 | 367,085 | (51,025 | ) | 352,222 | 33,484 | ||||||||||||||||||||||||
Commercial business | 444 | 246 | 1,880 | 2,570 | 59,949 | (8,102 | ) | 54,417 | 1,880 | ||||||||||||||||||||||||
Residential prime | — | — | 226 | 226 | 20,388 | (586 | ) | 20,028 | 226 | ||||||||||||||||||||||||
Home equity | 1,567 | 302 | 4,681 | 6,550 | 56,842 | (4,193 | ) | 59,199 | 4,681 | ||||||||||||||||||||||||
Indirect automobile | 86 | 1 | 102 | 189 | 2,258 | — | 2,447 | 102 | |||||||||||||||||||||||||
Other | 162 | 185 | 948 | 1,295 | 13,859 | (3,651 | ) | 11,503 | 948 | ||||||||||||||||||||||||
$ | 4,596 | $ | 1,172 | $ | 44,778 | $ | 50,546 | $ | 535,401 | $ | (69,485 | ) | $ | 516,462 | $ | 44,778 | |||||||||||||||||
(1) | Past due information includes loans acquired from OMNI, Cameron and Florida Gulf at the gross loan balance, prior to application of discounts. | ||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||
Past Due (1) | Total Non-covered | Recorded | |||||||||||||||||||||||||||||||
Loans, Net of | Investment > 90 days | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 days | 60-89 days | > 90 days | Total | Current | Discount | Unearned Income | and Accruing | |||||||||||||||||||||||||
Commercial real estate construction | $ | 369 | $ | — | $ | 4,067 | $ | 4,436 | $ | 29,098 | $ | (3,968 | ) | $ | 29,566 | $ | 4,067 | ||||||||||||||||
Commercial real estate - other | 5,971 | 1,572 | 38,987 | 46,530 | 426,339 | (57,055 | ) | 415,814 | 38,987 | ||||||||||||||||||||||||
Commercial business | 1,410 | 524 | 3,953 | 5,887 | 89,490 | (12,144 | ) | 83,233 | 3,953 | ||||||||||||||||||||||||
Residential prime | — | — | 779 | 779 | 30,663 | 1,315 | 32,757 | 779 | |||||||||||||||||||||||||
Home equity | 2,379 | 382 | 4,354 | 7,115 | 73,658 | (4,498 | ) | 76,275 | 4,354 | ||||||||||||||||||||||||
Indirect automobile | 171 | 4 | 146 | 321 | 4,698 | — | 5,019 | 146 | |||||||||||||||||||||||||
Other | 202 | 17 | 495 | 714 | 21,746 | (6,805 | ) | 15,655 | 495 | ||||||||||||||||||||||||
$ | 10,502 | $ | 2,499 | $ | 52,781 | $ | 65,782 | $ | 675,692 | $ | (83,155 | ) | $ | 658,319 | $ | 52,781 | |||||||||||||||||
(1) | Past due information includes loans acquired from OMNI, Cameron and Florida Gulf at the gross loan balance, prior to application of discounts. | ||||||||||||||||||||||||||||||||
TDRs [Member] | ' | ||||||||||||||||||||||||||||||||
Schedule of Subsequently Defaulted TDRs | ' | ||||||||||||||||||||||||||||||||
Information about the Company’s non-covered TDRs occurring in these periods is presented in the following table. | |||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||||
(In thousands, except number of loans) | Number of | Pre-modification | Post-modification | Number of | Pre-modification | Post-modification | |||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | Loans | Outstanding | Outstanding | ||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||
Investment | Investment (1) | Investment | Investment (1) | ||||||||||||||||||||||||||||||
Commercial real estate | 5 | $ | 12,507 | $ | 12,329 | 14 | $ | 4,478 | $ | 3,707 | |||||||||||||||||||||||
Commercial business | — | — | — | 1 | 27 | — | |||||||||||||||||||||||||||
Residential prime | — | — | — | — | — | — | |||||||||||||||||||||||||||
Home Equity | — | — | — | 1 | 94 | 51 | |||||||||||||||||||||||||||
Indirect automobile | — | — | — | — | — | — | |||||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | |||||||||||||||||||||||||||
Other | — | — | — | 1 | — | — | |||||||||||||||||||||||||||
5 | $ | 12,507 | $ | 12,329 | 17 | $ | 4,599 | $ | 3,758 | ||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||||
(In thousands, except number of loans) | Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||||||
Loans | Investment | Loans | Investment | ||||||||||||||||||||||||||||||
Commercial real estate | 45 | $ | 6,012 | 46 | $ | 19,048 | |||||||||||||||||||||||||||
Commercial business | 13 | 12,370 | 8 | 1,883 | |||||||||||||||||||||||||||||
Residential prime | — | — | — | — | |||||||||||||||||||||||||||||
Home Equity | 1 | 47 | 2 | 275 | |||||||||||||||||||||||||||||
Indirect automobile | — | — | — | — | |||||||||||||||||||||||||||||
Credit card | — | — | — | — | |||||||||||||||||||||||||||||
Other | 1 | — | 1 | — | |||||||||||||||||||||||||||||
60 | $ | 18,429 | 57 | $ | 21,206 | ||||||||||||||||||||||||||||
-1 | Recorded investment includes any allowance for credit losses recorded on the TDRs at the dates indicated. |
Allowance_for_Credit_Losses_an1
Allowance for Credit Losses and Credit Quality (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Effect of Change in Methodology on the Company's Unaudited Consolidated Financial Statements | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the effect of the change in methodology on the Company’s unaudited consolidated financial statements as of September 30, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current Methodology | Previous Methodolgy | Difference | Per Share Difference | |||||||||||||||||||||||||||||||||||||||||||||
Selected Data | |||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | $ | 64,165 | $ | 73,992 | $ | (9,827 | ) | ||||||||||||||||||||||||||||||||||||||||||
Reserve for unfunded lending commitments | 11,959 | — | 11,959 | ||||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | $ | 76,124 | $ | 73,992 | $ | 2,132 | |||||||||||||||||||||||||||||||||||||||||||
(Reversal of)Provision for loan losses | $ | 2,884 | $ | 2,883 | $ | 1 | $ | (0.00 | ) | ||||||||||||||||||||||||||||||||||||||||
Provision for unfunded lending commitments | 2,131 | — | 2,131 | 0.05 | |||||||||||||||||||||||||||||||||||||||||||||
Total provision for credit losses | $ | 5,015 | $ | 2,883 | $ | 2,132 | $ | 0.05 | |||||||||||||||||||||||||||||||||||||||||
Schedule of Allowance for Loan Losses for Covered Loan and Non-Covered Loan Portfolios | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
A summary of changes in the allowance for credit losses for the covered loan and non-covered loan portfolios is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Excluding Acquired Loans | Acquired Loans | Covered Loans | Total | |||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 74,211 | $ | 8,816 | $ | 168,576 | $ | 251,603 | |||||||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses before benefit attributable to FDIC loss share agreements | 2,884 | (2,464 | ) | (58,540 | ) | (58,120 | ) | ||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | 58,565 | 58,565 | |||||||||||||||||||||||||||||||||||||||||||||
Net (reversal of) provision for loan losses | 2,884 | (2,464 | ) | 25 | 445 | ||||||||||||||||||||||||||||||||||||||||||||
Decrease in FDIC loss share receivable | — | — | (58,565 | ) | (58,565 | ) | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | (1,013 | ) | (29,302 | ) | (30,315 | ) | ||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to the RULC | (9,828 | ) | — | — | (9,828 | ) | |||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (7,455 | ) | (10 | ) | (1,683 | ) | (9,148 | ) | |||||||||||||||||||||||||||||||||||||||||
Recoveries | 4,353 | — | — | 4,353 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 64,165 | $ | 5,329 | $ | 79,051 | $ | 148,545 | |||||||||||||||||||||||||||||||||||||||||
Reserve for unfunded lending commitments | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||
Transfer of balance from the allowance for loan losses | 9,828 | — | — | 9,828 | |||||||||||||||||||||||||||||||||||||||||||||
Provision for unfunded lending commitments | 2,131 | — | — | 2,131 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 11,959 | $ | — | $ | — | $ | 11,959 | |||||||||||||||||||||||||||||||||||||||||
September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
Excluding Acquired Loans | Acquired Loans | Covered Loans | Total | ||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 74,861 | $ | — | $ | 118,900 | $ | 193,761 | |||||||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses before benefit attributable to FDIC loss share agreements | 6,518 | 5,805 | 37,268 | 49,591 | |||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | (33,786 | ) | (33,786 | ) | |||||||||||||||||||||||||||||||||||||||||||
Net (reversal of) provision for loan losses | 6,518 | 5,805 | 3,482 | 15,805 | |||||||||||||||||||||||||||||||||||||||||||||
Increase in FDIC loss share receivable | — | — | 33,786 | 33,786 | |||||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | (408 | ) | (23,769 | ) | (24,177 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (6,818 | ) | (179 | ) | (13,283 | ) | (20,280 | ) | |||||||||||||||||||||||||||||||||||||||||
Recoveries | 2,455 | 18 | 19 | 2,492 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 77,016 | $ | 5,236 | $ | 119,135 | $ | 201,387 | |||||||||||||||||||||||||||||||||||||||||
Schedule of Allowance for Loan Losses for Non-Covered Loans, by Loan Portfolio | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
A summary of changes in the allowance for credit losses for non-covered loans, by loan portfolio type, is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Commercial | Commercial | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
real estate | business | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 38,264 | $ | 28,721 | $ | 2,125 | $ | 13,917 | $ | — | $ | 83,027 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | (6,926 | ) | (582 | ) | 1,048 | 6,880 | — | 420 | |||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (279 | ) | (81 | ) | (646 | ) | (7 | ) | — | (1,013 | ) | ||||||||||||||||||||||||||||||||||||||
Transfer of balance to the RULC | (2,939 | ) | (3,497 | ) | (40 | ) | (3,352 | ) | — | (9,828 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (1,966 | ) | (531 | ) | (481 | ) | (4,487 | ) | — | (7,465 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 1,498 | 354 | 698 | 1,803 | — | 4,353 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 27,652 | $ | 24,384 | $ | 2,704 | $ | 14,754 | — | $ | 69,494 | ||||||||||||||||||||||||||||||||||||||
Reserve for unfunded commitments | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Transfer of balance from the allowance for loan losses | 2,939 | 3,497 | 40 | 3,352 | — | 9,828 | |||||||||||||||||||||||||||||||||||||||||||
Provision for unfunded commitments | 1,207 | 610 | 38 | 276 | — | 2,131 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 4,146 | $ | 4,107 | $ | 78 | $ | 3,628 | $ | — | $ | 11,959 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | 8 | $ | 801 | $ | 283 | $ | — | $ | — | $ | 1,092 | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 27,644 | 23,583 | 2,421 | 14,754 | — | 68,402 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 3,320,333 | $ | 2,643,822 | $ | 409,940 | $ | 1,861,940 | $ | — | $ | 8,236,035 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | 9,529 | 14,548 | 1,407 | 263 | — | 25,747 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 3,310,804 | 2,629,274 | 408,533 | 1,861,677 | — | 8,210,288 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 16,287 | 45 | 120 | 1,815 | — | 18,267 | |||||||||||||||||||||||||||||||||||||||||||
September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Commercial | Commercial | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
real estate | business | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 35,604 | $ | 25,705 | $ | 897 | $ | 12,655 | $ | — | $ | 74,861 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 4,199 | 3,851 | 1,344 | 2,929 | — | 12,323 | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (62 | ) | — | (337 | ) | (9 | ) | — | (408 | ) | |||||||||||||||||||||||||||||||||||||||
Loans charged off | (1,195 | ) | (769 | ) | (759 | ) | (4,274 | ) | — | (6,997 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 790 | 80 | 30 | 1,573 | — | 2,473 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 39,336 | $ | 28,867 | $ | 1,175 | $ | 12,874 | $ | — | $ | 82,252 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | 1,173 | $ | 162 | $ | 163 | $ | 43 | $ | — | $ | 1,541 | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 38,163 | 28,705 | 1,012 | 12,831 | — | 80,711 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 2,879,836 | $ | 2,357,303 | $ | 266,069 | $ | 1,587,488 | $ | — | $ | 7,090,696 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | 26,353 | 1,888 | 1,703 | 318 | — | 30,262 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 2,853,483 | 2,355,415 | 264,366 | 1,587,170 | — | 7,060,434 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 60,360 | 3,675 | 430 | 5,334 | — | 69,799 | |||||||||||||||||||||||||||||||||||||||||||
Schedule of Allowance for Loan Losses for Covered Loans, by Loan Portfolio | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
A summary of changes in the allowance for credit losses for covered loans, by loan portfolio type, is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Commercial | Commercial | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
real estate | business | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 100,871 | $ | 11,375 | $ | 22,566 | $ | 33,764 | $ | — | $ | 168,576 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 27 | — | (1 | ) | (1 | ) | — | 25 | |||||||||||||||||||||||||||||||||||||||||
(Decrease) Increase in FDIC loss share receivable | (30,853 | ) | (3,137 | ) | (5,734 | ) | (18,841 | ) | — | (58,565 | ) | ||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (22,375 | ) | (314 | ) | (6,614 | ) | 1 | — | (29,302 | ) | |||||||||||||||||||||||||||||||||||||||
Loans charged off | (1,683 | ) | — | — | — | — | (1,683 | ) | |||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 45,987 | $ | 7,924 | $ | 10,217 | $ | 14,923 | $ | — | $ | 79,051 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 45,987 | 7,924 | 10,217 | 14,923 | — | 79,051 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 459,506 | $ | 40,422 | $ | 153,515 | $ | 153,559 | $ | — | $ | 807,002 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 459,506 | 40,422 | 153,515 | 153,559 | — | 807,002 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 23,751 | — | 28,333 | 26,400 | — | 78,484 | |||||||||||||||||||||||||||||||||||||||||||
September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Commercial | Commercial | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
real estate | business | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 69,175 | $ | 9,788 | $ | 21,184 | $ | 18,753 | $ | — | $ | 118,900 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 3,550 | 922 | (1,387 | ) | 397 | — | 3,482 | ||||||||||||||||||||||||||||||||||||||||||
(Decrease) Increase in FDIC loss share receivable | 24,229 | 2,398 | 4,277 | 2,882 | — | 33,786 | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (9,876 | ) | (2,475 | ) | (10,593 | ) | (825 | ) | — | (23,769 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (13,143 | ) | — | (131 | ) | (9 | ) | — | (13,283 | ) | |||||||||||||||||||||||||||||||||||||||
Recoveries | 16 | — | — | 3 | — | 19 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 73,951 | $ | 10,633 | $ | 13,350 | $ | 21,201 | $ | — | $ | 119,135 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 73,951 | 10,633 | 13,350 | 21,201 | — | 119,135 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 670,001 | $ | 91,822 | $ | 197,333 | $ | 180,094 | $ | — | $ | 1,139,250 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 670,001 | 91,822 | 197,333 | 180,094 | — | 1,139,250 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 171,965 | 3,522 | 22,085 | 24,388 | — | 221,960 | |||||||||||||||||||||||||||||||||||||||||||
Investment in Covered Loans and Non-Covered Loans by Credit Quality Indicator | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Asset risk classifications for commercial loans reflect the classification as of September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in | Pass | Special | Substandard | Doubtful | Total | Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||||||||||||
thousands) | Mention | Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 374,458 | $ | 4,800 | $ | 3,837 | $ | — | $ | 383,095 | $ | 269,842 | $ | 16,767 | $ | 7,067 | $ | — | $ | 293,676 | |||||||||||||||||||||||||||||
Commercial real estate - other | 2,503,820 | 37,537 | 26,896 | 117 | 2,568,370 | 2,162,989 | 40,547 | 47,710 | 398 | 2,251,644 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 2,546,614 | 9,013 | 32,825 | 953 | 2,589,405 | 2,295,788 | 21,640 | 49,958 | 48 | 2,367,434 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 5,424,892 | $ | 51,350 | $ | 63,558 | $ | 1,070 | 5,540,870 | $ | 4,728,619 | $ | 78,954 | $ | 104,735 | $ | 446 | $ | 4,912,754 | ||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | 30+ Days | Total | Current | 30+ Days | Total | |||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential prime | $ | 261,615 | $ | 12,140 | $ | 273,755 | $ | 185,843 | $ | 10,986 | $ | 196,829 | |||||||||||||||||||||||||||||||||||||
Residential subprime | 115,715 | 442 | 116,157 | 60,454 | — | 60,454 | |||||||||||||||||||||||||||||||||||||||||||
Home equity | 1,063,257 | 9,414 | 1,072,671 | 991,766 | 8,872 | 1,000,638 | |||||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 364,094 | 3,214 | 367,308 | 320,148 | 2,818 | 322,966 | |||||||||||||||||||||||||||||||||||||||||||
Credit card | 59,225 | 711 | 59,936 | 51,117 | 605 | 51,722 | |||||||||||||||||||||||||||||||||||||||||||
Consumer - other | 287,477 | 1,399 | 288,876 | 201,161 | 981 | 202,142 | |||||||||||||||||||||||||||||||||||||||||||
$ | 2,151,383 | $ | 27,320 | $ | 2,178,703 | $ | 1,810,489 | $ | 24,262 | $ | 1,834,751 | ||||||||||||||||||||||||||||||||||||||
Schedule of Investment in Impaired Loan | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Information on the Company’s investment in impaired loans is presented in the following tables as of and for the periods indicated. | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Recorded | Unpaid | Related | Recorded | Unpaid | Related | |||||||||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Investment | Principal | Allowance | ||||||||||||||||||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 9,392 | $ | 9,392 | $ | — | $ | 26,151 | $ | 26,151 | $ | — | |||||||||||||||||||||||||||||||||||||
Commercial business | 13,068 | 13,068 | — | 1,824 | 1,824 | — | |||||||||||||||||||||||||||||||||||||||||||
Home equity | 263 | 263 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 2,913 | 2,937 | (24 | ) | 3,464 | 3,663 | (199 | ) | |||||||||||||||||||||||||||||||||||||||||
Commercial business | 2,569 | 2,579 | (10 | ) | 1,334 | 1,810 | (476 | ) | |||||||||||||||||||||||||||||||||||||||||
Residential prime | 9,575 | 9,908 | (333 | ) | 9,861 | 10,070 | (209 | ) | |||||||||||||||||||||||||||||||||||||||||
Home equity | 6,784 | 6,829 | (45 | ) | 5,860 | 5,951 | (91 | ) | |||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 1,050 | 1,056 | (6 | ) | 865 | 868 | (3 | ) | |||||||||||||||||||||||||||||||||||||||||
Credit card | 417 | 425 | (8 | ) | 413 | 424 | (11 | ) | |||||||||||||||||||||||||||||||||||||||||
Other | 252 | 255 | (3 | ) | 307 | 310 | (3 | ) | |||||||||||||||||||||||||||||||||||||||||
$ | 46,283 | $ | 46,712 | $ | (429 | ) | $ | 50,079 | $ | 51,071 | $ | (992 | ) | ||||||||||||||||||||||||||||||||||||
Total commercial loans | 27,942 | 27,976 | (34 | ) | 32,773 | 33,448 | (675 | ) | |||||||||||||||||||||||||||||||||||||||||
Total mortgage loans | 9,575 | 9,908 | (333 | ) | 9,861 | 10,070 | (209 | ) | |||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 8,766 | 8,828 | (62 | ) | 7,445 | 7,553 | (108 | ) | |||||||||||||||||||||||||||||||||||||||||
For the Three Months Ended September 30 | For the Nine Months Ended September 30 | ||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Average | Interest | Average | Interest | Average | Interest | Average | Interest | |||||||||||||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||||||||||||||
Investment | Recognized (1) | Investment | Recognized (1) | Investment | Recognized (1) | Investment | Recognized (1) | ||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 10,703 | $ | 6 | $ | 27,547 | $ | 15 | $ | 12,787 | $ | 22 | $ | 29,872 | $ | 651 | |||||||||||||||||||||||||||||||||
Commercial business | 13,218 | 17 | 2,451 | — | 8,608 | 59 | 3,387 | 71 | |||||||||||||||||||||||||||||||||||||||||
Home Equity | 265 | — | 225 | — | 287 | — | 227 | — | |||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 4,346 | — | 2,731 | 8 | 6,092 | 5 | 2,866 | 22 | |||||||||||||||||||||||||||||||||||||||||
Commercial business | 2,739 | — | 209 | 1 | 2,746 | 3 | 215 | 1 | |||||||||||||||||||||||||||||||||||||||||
Residential prime | 9,650 | — | 9,248 | — | 9,380 | 7 | 7,439 | 148 | |||||||||||||||||||||||||||||||||||||||||
Home equity | 7,244 | — | 6,184 | — | 7,458 | 14 | 6,502 | 110 | |||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 1,349 | — | 1,135 | — | 1,610 | 22 | 1,345 | 20 | |||||||||||||||||||||||||||||||||||||||||
Credit card | 424 | — | 387 | — | 426 | — | 354 | — | |||||||||||||||||||||||||||||||||||||||||
Other | 372 | — | 585 | — | 446 | 4 | 675 | 6 | |||||||||||||||||||||||||||||||||||||||||
$ | 50,310 | $ | 23 | $ | 50,702 | $ | 24 | $ | 49,840 | $ | 136 | $ | 52,882 | $ | 1,029 | ||||||||||||||||||||||||||||||||||
Total commercial loans | 31,006 | 23 | 32,938 | 24 | 30,233 | 89 | 36,340 | 745 | |||||||||||||||||||||||||||||||||||||||||
Total mortgage loans | 9,650 | — | 9,248 | — | 9,380 | 7 | 7,439 | 148 | |||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 9,654 | — | 8,516 | — | 10,227 | 40 | 9,103 | 136 | |||||||||||||||||||||||||||||||||||||||||
-1 | Interest income recognized on impaired loans represents income recognized before loans were placed on nonaccrual status. | ||||||||||||||||||||||||||||||||||||||||||||||||
Acquired Loans [Member] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment in Covered Loans and Non-Covered Loans by Credit Quality Indicator | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The Company’s investment in covered loans by credit quality indicator is presented in the following table. Loan discounts in the tables below represent the adjustment of covered loans to fair value at the date, as adjusted for income accretion and changes in cash flow estimates in subsequent periods. | |||||||||||||||||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Special | Substandard | Doubtful | Total | Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||||||||||||
Mention | Mention | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 44,312 | $ | 8,093 | $ | 42,849 | $ | 497 | $ | 95,751 | $ | 46,201 | $ | 9,888 | $ | 97,315 | $ | 607 | $ | 154,011 | |||||||||||||||||||||||||||||
Commercial real estate - other | 146,103 | 56,182 | 194,785 | 7,496 | 404,566 | 201,261 | 65,498 | 279,171 | 8,530 | 554,460 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 33,112 | 958 | 17,201 | 1,277 | 52,548 | 38,552 | 8,600 | 50,018 | 451 | 97,621 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 223,527 | $ | 65,233 | $ | 254,835 | $ | 9,270 | $ | 552,865 | $ | 286,014 | $ | 83,986 | $ | 426,504 | $ | 9,588 | $ | 806,092 | |||||||||||||||||||||||||||||
Discount | (52,937 | ) | (78,198 | ) | |||||||||||||||||||||||||||||||||||||||||||||
$ | 499,928 | $ | 727,894 | ||||||||||||||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | 30+ Days | Premium | Total | Current | 30+ Days | Premium | Total | |||||||||||||||||||||||||||||||||||||||||
Past Due | (discount) | Past Due | (discount) | ||||||||||||||||||||||||||||||||||||||||||||||
Residential prime | $ | 164,214 | $ | 33,114 | $ | (43,813 | ) | $ | 153,515 | $ | 183,795 | $ | 52,379 | $ | (49,010 | ) | $ | 187,164 | |||||||||||||||||||||||||||||||
Home equity | 150,302 | 41,683 | (42,841 | ) | 149,144 | 168,729 | 65,997 | (60,514 | ) | 174,212 | |||||||||||||||||||||||||||||||||||||||
Credit card | 665 | 36 | — | 701 | 841 | 65 | — | 906 | |||||||||||||||||||||||||||||||||||||||||
Consumer - other | 643 | 204 | 2,867 | 3,714 | 1,154 | 1,523 | (97 | ) | 2,580 | ||||||||||||||||||||||||||||||||||||||||
$ | 315,824 | $ | 75,037 | $ | (83,787 | ) | $ | 307,074 | $ | 354,519 | $ | 119,964 | $ | (109,621 | ) | $ | 364,862 | ||||||||||||||||||||||||||||||||
Covered Loans [Member] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment in Covered Loans and Non-Covered Loans by Credit Quality Indicator | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in | Pass | Special | Substandard | Doubtful | Discount | Total | Pass | Special | Substandard | Doubtful | Discount | Total | |||||||||||||||||||||||||||||||||||||
thousands) | Mention | Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 12,900 | $ | 1,321 | $ | 4,353 | $ | — | $ | (1,928 | ) | $ | 16,646 | $ | 25,896 | $ | 2,410 | $ | 5,228 | $ | — | $ | (3,968 | ) | $ | 29,566 | |||||||||||||||||||||||
Commercial real estate - other | 320,781 | 18,438 | 63,816 | 212 | (51,025 | ) | 352,222 | 359,046 | 28,185 | 85,420 | 218 | (57,055 | ) | 415,814 | |||||||||||||||||||||||||||||||||||
Commercial business | 56,465 | 2,241 | 3,725 | 88 | (8,102 | ) | 54,417 | 86,201 | 2,159 | 4,808 | 2,209 | (12,144 | ) | 83,233 | |||||||||||||||||||||||||||||||||||
Total | $ | 390,146 | $ | 22,000 | $ | 71,894 | $ | 300 | $ | (61,055 | ) | $ | 423,285 | $ | 471,143 | $ | 32,754 | $ | 95,456 | $ | 2,427 | $ | (73,167 | ) | $ | 528,613 | |||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | 30+ Days | Premium | Total | Current | 30+ Days | Premium | Total | |||||||||||||||||||||||||||||||||||||||||
Past Due | (discount) | Past Due | (discount) | ||||||||||||||||||||||||||||||||||||||||||||||
Residential prime | $ | 20,388 | $ | 226 | $ | (586 | ) | $ | 20,028 | $ | 30,663 | $ | 779 | $ | 1,315 | $ | 32,757 | ||||||||||||||||||||||||||||||||
Home equity | 56,842 | 6,550 | (4,193 | ) | 59,199 | 73,658 | 7,115 | (4,498 | ) | 76,275 | |||||||||||||||||||||||||||||||||||||||
Indirect automobile | 2,258 | 189 | — | 2,447 | 4,698 | 321 | — | 5,019 | |||||||||||||||||||||||||||||||||||||||||
Consumer - other | 13,859 | 1,295 | (3,651 | ) | 11,503 | 21,746 | 714 | (6,805 | ) | 15,655 | |||||||||||||||||||||||||||||||||||||||
$ | 93,347 | $ | 8,260 | $ | (8,430 | ) | $ | 93,177 | $ | 130,765 | $ | 8,929 | $ | (9,988 | ) | $ | 129,706 | ||||||||||||||||||||||||||||||||
Loss_Sharing_Agreements_and_FD1
Loss Sharing Agreements and FDIC Loss Share Receivable (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Schedule of FDIC Loss Share Receivable | ' | ||||||||
The following is a summary of FDIC loss share receivable year-to-date activity: | |||||||||
September 30 | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Balance at beginning of period | $ | 423,069 | $ | 591,844 | |||||
Change due to (reversal of) credit loss provision recorded on FDIC covered loans | (58,565 | ) | 33,786 | ||||||
Amortization | (68,707 | ) | (89,899 | ) | |||||
Submission of reimbursable losses to the FDIC | (44,910 | ) | (97,511 | ) | |||||
Impairment | (31,813 | ) | — | ||||||
Changes due to a change in cash flow assumptions on OREO and other | (14,189 | ) | (7,053 | ) | |||||
Balance at end of period | $ | 204,885 | $ | 431,167 | |||||
Transfers_and_Servicing_of_Fin1
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Components of Mortgage Banking Activity | ' | ||||||||||||||||||||||||
The following table details the mortgage banking activity as of and for the nine months ended September 30: | |||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||
Balance at beginning of period | $ | 267,475 | $ | 153,013 | |||||||||||||||||||||
Originations | 1,712,557 | 1,749,121 | |||||||||||||||||||||||
Sales | (1,871,747 | ) | (1,691,002 | ) | |||||||||||||||||||||
Balance at end of period | $ | 108,285 | $ | 211,132 | |||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||
Fair value changes of derivatives and mortgage loans held for sale, net | $ | (270 | ) | $ | 2,954 | ||||||||||||||||||||
Gains on sales | 51,709 | 51,828 | |||||||||||||||||||||||
Servicing and other income, net | 402 | 336 | |||||||||||||||||||||||
$ | 51,841 | $ | 55,118 | ||||||||||||||||||||||
Schedule of Definite-Lived Intangible Assets | ' | ||||||||||||||||||||||||
Definite-lived intangible assets had the following carrying values for the periods indicated: | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
(Dollars in thousands) | Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||
Carrying Amount | Amortization | Carrying Amount | Carrying Amount | Amortization | Carrying Amount | ||||||||||||||||||||
Core deposit intangibles | $ | 45,406 | $ | (29,659 | ) | $ | 15,747 | $ | 45,406 | $ | (26,284 | ) | $ | 19,122 | |||||||||||
Customer relationship intangible asset | 1,348 | (579 | ) | 769 | 1,348 | (410 | ) | 938 | |||||||||||||||||
$ | 46,754 | $ | (30,238 | ) | $ | 16,516 | $ | 46,754 | $ | (26,694 | ) | $ | 20,060 | ||||||||||||
Mortgage Servicing Rights [Member] | ' | ||||||||||||||||||||||||
Schedule of Definite-Lived Intangible Assets | ' | ||||||||||||||||||||||||
Mortgage servicing rights had the following carrying values: | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
(Dollars in thousands) | Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||
Carrying Amount | Amortization | Carrying Amount | Carrying Amount | Amortization | Carrying Amount | ||||||||||||||||||||
Mortgage servicing rights | $ | 1,816 | $ | (543 | ) | $ | 1,273 | $ | 1,234 | $ | (304 | ) | $ | 930 |
Goodwill_and_Other_Acquired_In1
Goodwill and Other Acquired Intangible Assets (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||
Schedule of Carrying Amount of Goodwill | ' | ||||
Changes to the carrying amount of goodwill for the year ended December 31, 2012 and the nine months ended September 30, 2013 are provided in the following table. | |||||
(Dollars in thousands) | |||||
Balance, December 31, 2011 | $ | 369,811 | |||
Goodwill acquired during the year | 32,420 | ||||
Goodwill adjustment to correct an immaterial error | (359 | ) | |||
Balance, December 31, 2012 | 401,872 | ||||
Goodwill acquired during the period | — | ||||
Balance, September 30, 2013 | $ | 401,872 | |||
Other_Real_Estate_Owned_Tables
Other Real Estate Owned (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Other Real Estate Owned Segregated Into Non-Covered and Covered Properties | ' | ||||||||||||||||||||||||
Other real estate owned, segregated into non-covered and covered properties, consists of the following as of the periods indicated. | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
(Dollars in thousands) | Non-covered | Covered | Total | Non-covered | Covered | Total | |||||||||||||||||||
Real estate owned acquired by foreclosure | $ | 31,261 | $ | 85,616 | $ | 116,877 | $ | 35,080 | $ | 75,784 | $ | 110,864 | |||||||||||||
Real estate acquired for development or resale | 10,518 | — | 10,518 | 9,199 | — | 9,199 | |||||||||||||||||||
Other foreclosed property | 109 | 1,483 | 1,592 | 14 | 1,459 | 1,473 | |||||||||||||||||||
$ | 41,888 | $ | 87,099 | $ | 128,987 | $ | 44,293 | $ | 77,243 | $ | 121,536 | ||||||||||||||
Derivative_Instruments_and_Oth1
Derivative Instruments and Other Hedging Activities (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Outstanding Derivative Instruments | ' | ||||||||||||||||||||||||||||
Information pertaining to outstanding derivative instruments is as follows: | |||||||||||||||||||||||||||||
Balance Sheet | Asset Derivatives Fair Value | Balance Sheet | Liability Derivatives Fair Value | ||||||||||||||||||||||||||
(Dollars in thousands) | Location | September 30, 2013 | December 31, 2012 | Location | September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
Derivatives designated as hedging instruments under ASC Topic 815: | |||||||||||||||||||||||||||||
Interest rate contracts | Other assets | $ | — | $ | 499 | Other liabilities | $ | — | $ | 1,843 | |||||||||||||||||||
Total derivatives designated as hedging instruments under ASC Topic 815 | $ | — | $ | 499 | $ | — | $ | 1,843 | |||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC Topic 815: | |||||||||||||||||||||||||||||
Interest rate contracts | Other assets | $ | 14,312 | $ | 25,940 | Other liabilities | $ | 14,312 | $ | 25,940 | |||||||||||||||||||
Forward sales contracts | Other assets | 148 | 2,774 | Other liabilities | 5,289 | 343 | |||||||||||||||||||||||
Written and purchased options | Other assets | 18,009 | 12,906 | Other liabilities | 11,920 | 8,764 | |||||||||||||||||||||||
Total derivatives not designated as hedging instruments under ASC Topic 815 | $ | 32,469 | $ | 41,620 | $ | 31,521 | $ | 35,047 | |||||||||||||||||||||
Total derivatives | $ | 32,469 | $ | 42,119 | $ | 31,521 | $ | 36,890 | |||||||||||||||||||||
Asset Derivatives Notional Amount | Liability Derivatives Notional Amount | ||||||||||||||||||||||||||||
(Dollars in thousands) | September 30, 2013 | December 31, 2012 | September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||
Derivatives designated as hedging instruments under ASC Topic 815: | |||||||||||||||||||||||||||||
Interest rate contracts | $ | — | $ | 35,000 | $ | — | $ | 35,000 | |||||||||||||||||||||
Total derivatives designated as hedging instruments under ASC Topic 815 | $ | — | $ | 35,000 | $ | — | $ | 35,000 | |||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC Topic 815: | |||||||||||||||||||||||||||||
Interest rate contracts | $ | 376,374 | $ | 374,536 | $ | 376,374 | $ | 374,536 | |||||||||||||||||||||
Forward sales contracts | 8,218 | 212,028 | 253,051 | 53,269 | |||||||||||||||||||||||||
Written and purchased options | 366,585 | 388,793 | 196,950 | 185,885 | |||||||||||||||||||||||||
Total derivatives not designated as hedging instruments under ASC Topic 815 | $ | 751,177 | $ | 975,357 | $ | 826,375 | $ | 613,690 | |||||||||||||||||||||
Total derivatives | $ | 751,177 | $ | 1,010,357 | $ | 826,375 | $ | 648,690 | |||||||||||||||||||||
Reconciliation of Gross Amounts in Consolidated Balance Sheets | ' | ||||||||||||||||||||||||||||
The following table reconciles the gross amounts presented in the consolidated balance sheets to the net amounts that would result in the event of offset. | |||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||
Gross Amounts | Gross Amounts Not Offset | Net | |||||||||||||||||||||||||||
Presented in the | in the Balance Sheet | ||||||||||||||||||||||||||||
(Dollars in thousands) | Balance Sheet | Derivatives | Collateral (1) | ||||||||||||||||||||||||||
Derivatives subject to master netting arrangements | |||||||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 14,312 | — | — | 14,312 | |||||||||||||||||||||||||
Written and purchased options | 11,865 | — | — | 11,865 | |||||||||||||||||||||||||
Total derivative assets subject to master netting arrangements | $ | 26,177 | $ | — | $ | — | $ | 26,177 | |||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 14,312 | — | (5,658 | ) | 8,654 | ||||||||||||||||||||||||
Total derivative liabilities subject to master netting arrangements | $ | 14,312 | $ | — | $ | (5,658 | ) | $ | 8,654 | ||||||||||||||||||||
-1 | Consists of cash collateral recorded at cost, which approximates fair value, and investment securities. | ||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Gross Amounts | Gross Amounts Not Offset | Net | |||||||||||||||||||||||||||
Presented in the | in the Balance Sheet | ||||||||||||||||||||||||||||
(Dollars in thousands) | Balance Sheet | Derivatives | Collateral (1) | ||||||||||||||||||||||||||
Derivatives subject to master netting arrangements | |||||||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | 499 | $ | (499 | ) | $ | — | $ | — | ||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 25,940 | — | — | 25,940 | |||||||||||||||||||||||||
Written and purchased options | 8,763 | — | — | 8,763 | |||||||||||||||||||||||||
Total derivative assets subject to master netting arrangements | $ | 35,202 | $ | (499 | ) | $ | — | $ | 34,703 | ||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | 1,843 | $ | (499 | ) | $ | — | $ | 1,344 | ||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 25,940 | — | (13,350 | ) | 12,590 | ||||||||||||||||||||||||
Total derivative liabilities subject to master netting arrangements | $ | 27,783 | $ | (499 | ) | $ | (13,350 | ) | $ | 13,934 | |||||||||||||||||||
-1 | Consists of cash collateral recorded at cost, which approximates fair value, and investment securities. | ||||||||||||||||||||||||||||
Schedule of Derivative Instruments on Consolidated Financial Statements | ' | ||||||||||||||||||||||||||||
Information pertaining to the effect of the hedging instruments on the consolidated financial statements is as follows: | |||||||||||||||||||||||||||||
Amount of Gain (Loss) | Location of | Amount of Gain | Location of | Amount of Gain | |||||||||||||||||||||||||
Recognized in OCI | Gain (Loss) | (Loss) | Gain (Loss) | (Loss) | |||||||||||||||||||||||||
net of taxes | Reclassified | Reclassified | Recognized in | Recognized in | |||||||||||||||||||||||||
(Effective Portion) | from | from | Income on | Income on | |||||||||||||||||||||||||
Accumulated | Accumulated | Derivative | Derivative | ||||||||||||||||||||||||||
OCI into | OCI into | (Ineffective | (Ineffective | ||||||||||||||||||||||||||
Income | Income | Portion and | Portion and | ||||||||||||||||||||||||||
(Effective | (Effective Portion) | Amount | Amount | ||||||||||||||||||||||||||
Portion) | Excluded from | Excluded from | |||||||||||||||||||||||||||
(Effectiveness | Effectiveness Testing) | ||||||||||||||||||||||||||||
Testing) | |||||||||||||||||||||||||||||
As of September 30 | For the Three Months Ended September 30 | ||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
Derivatives in ASC Topic 815 Cash Flow Hedging Relationships | |||||||||||||||||||||||||||||
Interest rate contracts | $ | — | $ | (2,358 | ) | Other income | $ | — | $ | (408 | ) | Other income | $ | — | $ | — | |||||||||||||
(expense) | (expense) | ||||||||||||||||||||||||||||
$ | — | $ | (2,358 | ) | $ | — | $ | (408 | ) | $ | — | $ | — | ||||||||||||||||
Amount of Gain | Location of | Amount of Gain | Location of | Amount of Gain | |||||||||||||||||||||||||
(Loss) Recognized | Gain (Loss) | (Loss) Reclassified | Gain (Loss) | (Loss) | |||||||||||||||||||||||||
in OCI net of | Reclassified | from Accumulated | Recognized in | Recognized in | |||||||||||||||||||||||||
taxes | from | OCI into Income | Income on | Income on | |||||||||||||||||||||||||
(Effective Portion) | Accumulated | (Effective Portion) | Derivative | Derivative | |||||||||||||||||||||||||
OCI into | (Ineffective | (Ineffective | |||||||||||||||||||||||||||
Income | Portion and | Portion and | |||||||||||||||||||||||||||
(Effective | Amount | Amount | |||||||||||||||||||||||||||
Portion) | Excluded from | Excluded from | |||||||||||||||||||||||||||
(Effectiveness | Effectiveness Testing) | ||||||||||||||||||||||||||||
Testing) | |||||||||||||||||||||||||||||
As of September 30 | For the Nine Months Ended September 30 | ||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
Derivatives in ASC Topic 815 Cash Flow Hedging Relationships | |||||||||||||||||||||||||||||
Interest rate contracts | $ | — | $ | (2,358 | ) | Other income | $ | (392 | ) | $ | (1,195 | ) | Other income | $ | — | $ | — | ||||||||||||
(expense) | (expense) | ||||||||||||||||||||||||||||
$ | — | $ | (2,358 | ) | $ | (392 | ) | $ | (1,195 | ) | $ | — | $ | — | |||||||||||||||
Location of | Amount of Gain (Loss) Recognized in | ||||||||||||||||||||||||||||
Gain (Loss) | Income on Derivatives | ||||||||||||||||||||||||||||
Recognized in | |||||||||||||||||||||||||||||
Income | For the Three Months Ended | For the Nine Months Ended | |||||||||||||||||||||||||||
on Derivatives | September 30 | September 30 | |||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments under ASC Topic 815 | |||||||||||||||||||||||||||||
Interest rate contracts | Other income | $ | 2,061 | 247 | 2,542 | 627 | |||||||||||||||||||||||
(expense) | |||||||||||||||||||||||||||||
Forward sales contracts | Mortgage Income | 3,290 | (1,887 | ) | 897 | (1,887 | ) | ||||||||||||||||||||||
Written and purchased options | Mortgage Income | (7,896 | ) | 3,378 | (3,820 | ) | 5,094 | ||||||||||||||||||||||
$ | (2,545 | ) | $ | 1,738 | $ | (381 | ) | $ | 3,834 | ||||||||||||||||||||
Other_Comprehensive_Income_Tab
Other Comprehensive Income (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Summary of Tax Effects of Each Component of Other Comprehensive Income | ' | ||||||||||||
The following is a summary of the tax effects of each component of other comprehensive income for the periods indicated: | |||||||||||||
Three Months Ended | |||||||||||||
September 30, 2013 | |||||||||||||
(Dollars in thousands) | Before | Tax Expense | Net-of-Tax | ||||||||||
Tax | (Benefit) | Amount | |||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding gains arising during the period | $ | 5,528 | $ | (1,935 | ) | $ | 3,593 | ||||||
Less: reclassification adjustment for losses included in net income | 3 | (1 | ) | 2 | |||||||||
Net unrealized gains | 5,531 | (1,936 | ) | 3,595 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | — | $ | — | $ | — | |||||||
Less: reclassification adjustment for gains included in net income | — | — | — | ||||||||||
Fair value of derivative instruments designated as cash flow hedges | — | — | — | ||||||||||
Total other comprehensive income | $ | 5,531 | $ | (1,936 | ) | $ | 3,595 | ||||||
Three Months Ended | |||||||||||||
30-Sep-12 | |||||||||||||
(Dollars in thousands) | Before | Tax Expense | Net-of-Tax | ||||||||||
Tax | (Benefit) | Amount | |||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding gains arising during the period | $ | 6,099 | $ | (2,135 | ) | $ | 3,964 | ||||||
Less: reclassification adjustment for gains included in net income | (41 | ) | 14 | (27 | ) | ||||||||
Net unrealized gains | 6,058 | (2,121 | ) | 3,937 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | 800 | $ | (280 | ) | $ | 520 | ||||||
Less: reclassification adjustment for losses included in net income | 409 | (142 | ) | 267 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | 1,209 | (422 | ) | 787 | |||||||||
Total other comprehensive income | $ | 7,267 | $ | (2,543 | ) | $ | 4,724 | ||||||
Nine Months Ended | |||||||||||||
September 30, 2013 | |||||||||||||
(Dollars in thousands) | Before | Tax Expense | Net-of-Tax | ||||||||||
Tax | (Benefit) | Amount | |||||||||||
Unrealized loss on securities: | |||||||||||||
Unrealized holding losses arising during the period | $ | (38,769 | ) | $ | 13,569 | $ | (25,200 | ) | |||||
Less: reclassification adjustment for gains included in net income | (2,259 | ) | 791 | (1,468 | ) | ||||||||
Net unrealized losses | (41,028 | ) | 14,360 | (26,668 | ) | ||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | 952 | $ | (333 | ) | $ | 619 | ||||||
Less: reclassification adjustment for losses included in net income | 392 | (137 | ) | 255 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | 1,344 | (470 | ) | 874 | |||||||||
Total other comprehensive loss | $ | (39,684 | ) | $ | 13,890 | $ | (25,794 | ) | |||||
Nine Months Ended | |||||||||||||
30-Sep-12 | |||||||||||||
(Dollars in thousands) | Before | Tax Expense | Net-of-Tax | ||||||||||
Tax | (Benefit) | Amount | |||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding gains arising during the period | $ | 8,236 | $ | (2,883 | ) | $ | 5,353 | ||||||
Less: reclassification adjustment for gains included in net income | (3,743 | ) | 1,310 | (2,433 | ) | ||||||||
Net unrealized gains | 4,493 | (1,573 | ) | 2,920 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | (1,882 | ) | $ | 659 | $ | (1,223 | ) | |||||
Less: reclassification adjustment for losses included in net income | 1,195 | (418 | ) | 777 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | (687 | ) | 241 | (446 | ) | ||||||||
Total other comprehensive income | $ | 3,806 | $ | (1,332 | ) | $ | 2,474 | ||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation Expense Included in Salaries and Employee Benefits Expense and Related Income Tax Benefits | ' | ||||||||||||||||
The following table represents the compensation expense that is included in salaries and employee benefits expense and related income tax benefits in the accompanying consolidated statements of comprehensive income related to stock options. | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands, except per share data) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Compensation expense related to stock options | $ | 526 | $ | 334 | $ | 1,592 | $ | 1,317 | |||||||||
Income tax benefit related to stock options | 184 | 117 | 557 | 461 | |||||||||||||
Impact on basic earnings per share | 0.01 | 0.01 | 0.03 | 0.03 | |||||||||||||
Impact on diluted earnings per share | 0.01 | 0.01 | 0.03 | 0.03 | |||||||||||||
Estimate Fair Value of Share-Based Awards with Weighted-Average Assumptions | ' | ||||||||||||||||
The Company uses the Black-Scholes option pricing model to estimate the fair value of share-based awards. The following weighted-average assumptions were used for option awards outstanding during the nine-month periods ended September 30: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Expected dividends | 2.6 | % | 2.3 | % | |||||||||||||
Expected volatility | 34.8 | % | 33.9 | % | |||||||||||||
Risk-free interest rate | 1.7 | % | 2.9 | % | |||||||||||||
Expected term (in years) | 8.6 | 5.8 | |||||||||||||||
Weighted-average grant-date fair value | $ | 15.37 | $ | 13.58 | |||||||||||||
Activity Related to Stock Options | ' | ||||||||||||||||
The following table represents the activity related to stock options during the periods indicated. | |||||||||||||||||
Number of | Weighted | Weighted Average | |||||||||||||||
shares | Average | Remaining Contract Life | |||||||||||||||
Exercise | |||||||||||||||||
Price | |||||||||||||||||
Oustanding options, December 31, 2011 | 1,097,620 | $ | 50.14 | ||||||||||||||
Granted | 226,764 | 51.73 | |||||||||||||||
Issued in connection with acquisition | 32,863 | 41.3 | |||||||||||||||
Exercised | (46,729 | ) | 29.42 | ||||||||||||||
Forfeited or expired | (29,410 | ) | 57.39 | ||||||||||||||
Outstanding options, September 30, 2012 | 1,281,108 | $ | 50.78 | 4.8 | Years | ||||||||||||
Outstanding exercisable at September 30, 2012 | 822,410 | $ | 48.94 | 3 | Years | ||||||||||||
Oustanding options, December 31, 2012 | 1,236,075 | $ | 51.48 | ||||||||||||||
Granted | 75,722 | 52.36 | |||||||||||||||
Exercised | (142,841 | ) | 38.09 | ||||||||||||||
Forfeited or expired | (36,608 | ) | 56.01 | ||||||||||||||
Outstanding options, September 30, 2013 | 1,132,348 | $ | 53.09 | 4.7 | Years | ||||||||||||
Outstanding exercisable at September 30, 2013 | 749,545 | $ | 52.94 | 3.2 | Years | ||||||||||||
Compensation Expense Included in Salaries and Employee Benefits Expense Related to Restricted Stock Grants | ' | ||||||||||||||||
The following table represents the compensation expense that was included in salaries and employee benefits expense in the accompanying consolidated statements of income related to restricted stock grants: | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Compensation expense related to restricted stock | $ | 2,110 | $ | 1,973 | $ | 6,055 | $ | 5,638 | |||||||||
Unvested Restricted Stock Award Activity | ' | ||||||||||||||||
The following table represents unvested restricted stock award activity for the nine months ended September 30: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Balance at beginning of period | 538,202 | 512,112 | |||||||||||||||
Granted | 166,223 | 174,393 | |||||||||||||||
Forfeited | (27,483 | ) | (8,736 | ) | |||||||||||||
Earned and issued | (136,629 | ) | (120,644 | ) | |||||||||||||
Balance at end of period | 540,313 | 557,125 | |||||||||||||||
Schedule of Share and Dividend Equivalent Share Award Activity | ' | ||||||||||||||||
The following table represents phantom stock award activity during the periods indicated. | |||||||||||||||||
Number of share | Dividend | Total share | Value of share | ||||||||||||||
equivalents | equivalents | equivalents | equivalents (1) | ||||||||||||||
Balance, December 31, 2011 | 232,921 | 8,942 | 241,863 | $ | 11,924,000 | ||||||||||||
Granted | 117,506 | 6,852 | 124,358 | 5,696,000 | |||||||||||||
Forfeited share equivalents | (8,052 | ) | (242 | ) | (8,294 | ) | (380,000 | ) | |||||||||
Vested share equivalents | (16,735 | ) | (1,144 | ) | (17,879 | ) | (894,000 | ) | |||||||||
Balance, September 30, 2012 | 325,640 | 14,408 | 340,048 | $ | 15,574,000 | ||||||||||||
Balance, December 31, 2012 | 318,729 | 16,035 | 334,764 | $ | 16,444,000 | ||||||||||||
Granted | 166,664 | 8,793 | 175,457 | 9,108,000 | |||||||||||||
Forfeited share equivalents | (16,381 | ) | (681 | ) | (17,062 | ) | (886,000 | ) | |||||||||
Vested share equivalents | (45,065 | ) | (3,327 | ) | (48,392 | ) | (2,453,000 | ) | |||||||||
Balance, September 30, 2013 | 423,947 | 20,820 | 444,767 | $ | 23,088,000 | ||||||||||||
(1) | Except for share equivalents at the beginning of each period, which are based on the value at that time, and vested share payments, which are based on the cash paid at the time of vesting, the value of share equivalents is calculated based on the market price of the Company’s stock at the end of the respective periods. The market price of the Company’s stock was $51.91 and $45.80 on September 30, 2013 and 2012, respectively. | ||||||||||||||||
Phantom Stock Awards [Member] | ' | ||||||||||||||||
Compensation Expense Included in Salaries and Employee Benefits Expense and Related Income Tax Benefits | ' | ||||||||||||||||
The following table indicates compensation expense recorded for phantom stock based on the number of share equivalents vested at the end of the period and the current market price of the Company’s stock. | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Compensation expense related to phantom stock | $ | 792 | $ | 245 | $ | 2,602 | $ | 1,426 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Summary of Financial Instruments Outstanding | ' | ||||||||
The Company had the following financial instruments outstanding, whose contract amounts represent credit risk: | |||||||||
(Dollars in thousands) | September 30 | December 31 | |||||||
2013 | 2012 | ||||||||
Commitments to grant loans | $ | 342,494 | $ | 192,295 | |||||
Unfunded commitments under lines of credit | 2,972,046 | 2,372,971 | |||||||
Commercial and standby letters of credit | 106,652 | 62,207 | |||||||
Reserve for unfunded lending commitments | 11,959 | — |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Financial Asset and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
The Company has segregated all financial assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to estimate the fair value at the measurement date in the tables below. | |||||||||||||||||
(Dollars in thousands) | September 30, 2013 | ||||||||||||||||
Assets | (Level 1) | (Level 2) | (Level 3) | Total | |||||||||||||
Available for sale securities | $ | 15,220 | $ | 1,949,169 | $ | — | $ | 1,964,389 | |||||||||
Derivative instruments | — | 32,469 | — | 32,469 | |||||||||||||
Total | $ | 15,220 | $ | 1,981,638 | $ | — | $ | 1,996,858 | |||||||||
Liabilities | |||||||||||||||||
Derivative instruments | — | 31,521 | — | 31,521 | |||||||||||||
Total | $ | — | $ | 31,521 | $ | — | $ | 31,521 | |||||||||
(Dollars in thousands) | 31-Dec-12 | ||||||||||||||||
Assets | (Level 1) | (Level 2) | (Level 3) | Total | |||||||||||||
Available for sale securities | $ | — | $ | 1,745,004 | $ | — | $ | 1,745,004 | |||||||||
Derivative instruments | — | 42,119 | — | 42,119 | |||||||||||||
Total | $ | — | $ | 1,787,123 | $ | — | $ | 1,787,123 | |||||||||
Liabilities | |||||||||||||||||
Derivative instruments | — | 36,890 | — | 36,890 | |||||||||||||
Total | $ | — | $ | 36,890 | $ | — | $ | 36,890 | |||||||||
Gains and Losses Included in Earnings Related to Asset and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
Gains and losses (realized and unrealized) included in earnings (or changes in net assets) for the first nine months of 2013 related to assets and liabilities measured at fair value on a recurring basis are reported in noninterest income or other comprehensive income as follows: | |||||||||||||||||
(Dollars in thousands) | Noninterest | Other | |||||||||||||||
income | comprehensive | ||||||||||||||||
income | |||||||||||||||||
Total gains (losses) included in earnings (or changes in net assets) | $ | (1,056 | ) | $ | — | ||||||||||||
Change in unrealized gains (losses) relating to assets still held at September 30, 2013 | — | (25,794 | ) | ||||||||||||||
Financial Asset and Liabilities Measured at Fair Value on Nonrecurring Basis | ' | ||||||||||||||||
The Company has segregated all financial assets and liabilities that are measured at fair value on a nonrecurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the tables below. | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
(Dollars in thousands) | (Level 1) | (Level 2) | (Level 3) | Total | |||||||||||||
Assets | |||||||||||||||||
Loans | $ | — | $ | 1,932 | $ | — | $ | 1,932 | |||||||||
Mortgage loans held for sale | — | 3,213 | — | 3,213 | |||||||||||||
OREO | — | 20,427 | — | 20,427 | |||||||||||||
Total | $ | — | $ | 25,572 | $ | — | $ | 25,572 | |||||||||
December 31, 2012 | |||||||||||||||||
(Dollars in thousands) | (Level 1) | (Level 2) | (Level 3) | Total | |||||||||||||
Assets | |||||||||||||||||
Loans | $ | — | $ | 6,388 | $ | — | $ | 6,388 | |||||||||
Mortgage loans held for sale | — | 32,753 | — | 32,753 | |||||||||||||
OREO | — | 20,427 | — | 20,427 | |||||||||||||
Total | $ | — | $ | 59,568 | $ | — | $ | 59,568 | |||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Estimated Fair Values and Carrying Amounts of Financial Instruments | ' | ||||||||||||||||
The estimated fair values and carrying amounts of the Company’s financial instruments are as follows: | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
(Dollars in thousands) | Carrying | Fair | Carrying | Fair | |||||||||||||
Amount | Value | Amount | Value | ||||||||||||||
Financial Assets | |||||||||||||||||
Cash and cash equivalents | $ | 553,447 | $ | 553,447 | $ | 970,977 | $ | 970,977 | |||||||||
Investment securities | 2,120,067 | 2,119,699 | 1,950,066 | 1,956,502 | |||||||||||||
Loans and loans held for sale | 9,151,322 | 9,257,560 | 8,766,054 | 8,800,563 | |||||||||||||
FDIC loss share receivable | 204,885 | 59,512 | 423,069 | 207,222 | |||||||||||||
Derivative instruments | 32,469 | 32,469 | 42,119 | 42,119 | |||||||||||||
Accrued interest receivable | 31,296 | 31,296 | 32,183 | 32,183 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | $ | 10,950,764 | $ | 10,533,414 | $ | 10,748,277 | $ | 10,594,885 | |||||||||
Short-term borrowings | 258,850 | 258,850 | 303,045 | 303,045 | |||||||||||||
Long-term debt | 281,101 | 239,506 | 423,377 | 394,490 | |||||||||||||
Derivative instruments | 31,521 | 31,521 | 36,890 | 36,890 | |||||||||||||
Accrued interest payable | 6,026 | 6,026 | 6,615 | 6,615 |
Basis_of_Presentation_Addition
Basis of Presentation - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Basis Of Presentation [Line Items] | ' | ' | ' | ' |
Company mortgage loans held for sale | $108,285,000 | ' | $108,285,000 | ' |
Property write-downs | $1,437,000 | $867,000 | $3,993,000 | $4,900,000 |
Commercial [Member] | ' | ' | ' | ' |
Basis Of Presentation [Line Items] | ' | ' | ' | ' |
Loss sharing indemnification agreements, terms | ' | ' | '5 years | ' |
Single family residential [Member] | ' | ' | ' | ' |
Basis Of Presentation [Line Items] | ' | ' | ' | ' |
Loss sharing indemnification agreements, terms | ' | ' | '10 years | ' |
IBERIABANK Corporation [Member] | ' | ' | ' | ' |
Basis Of Presentation [Line Items] | ' | ' | ' | ' |
Number of operating states | 6 | ' | 6 | ' |
IBERIABANK Mortgage Company [Member] | ' | ' | ' | ' |
Basis Of Presentation [Line Items] | ' | ' | ' | ' |
Number of operating states | 12 | ' | 12 | ' |
Recent_Accounting_Pronouncemen1
Recent Accounting Pronouncements - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2013 | Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' | ' |
Amortization expense | $5,496,000 | $15,916,000 |
Earnings_Per_Share_Schedule_of
Earnings Per Share - Schedule of Calculation of Basic and Diluted Earnings Per Share (Detail) (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 And Diluted, By Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Income available to common shareholders | $23,192 | $21,234 | $39,499 | $53,187 |
Distributed earnings to common shareholders - basic | 22,771 | 20,833 | 38,755 | 52,178 |
Distributed and undistributed earnings to common shareholders - diluted | 22,767 | 20,828 | 38,755 | 52,180 |
Weighted average shares outstanding - basic | 29,631,799 | 29,066,000 | 29,582,081 | 29,303,849 |
Weighted average shares outstanding - diluted | 29,147,232 | 28,548,432 | 29,062,238 | 28,812,631 |
Earnings per common share - Basic | $0.78 | $0.73 | $1.34 | $1.81 |
Earnings per common share - diluted | $0.78 | $0.73 | $1.33 | $1.81 |
Unvested Restricted Stock [Member] | ' | ' | ' | ' |
Earnings Per Share, Basic And Diluted, By Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Distributed earnings to unvested restricted stock | -421 | -401 | -744 | -1,009 |
Undistributed earnings reallocated to unvested restricted stock | ($4) | ($5) | ' | $2 |
Earnings per common share - Basic | $0.77 | $0.71 | $1.33 | $1.82 |
Earnings per common share - diluted | $0.78 | $0.72 | $1.33 | $1.82 |
Earnings_Per_Share_Schedule_of1
Earnings Per Share - Schedule of Calculation of Basic and Diluted Earnings Per Share (Parenthetical) (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Weighted average basic shares outstanding, unvested restricted stock | 547,155 | 563,061 | 559,556 | 554,041 |
Earnings_Per_Share_Schedule_of2
Earnings Per Share - Schedule of Basic Earnings Per Common Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per 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] | ' | ' | ' | ' |
Distributed earnings | $9,926 | $9,826 | $29,736 | $29,695 |
Undistributed earnings to common shareholders | 12,845 | 11,007 | 9,019 | 22,483 |
Total earnings to common shareholders | 22,771 | 20,833 | 38,755 | 52,178 |
Distributed earnings | $0.34 | $0.34 | $1.03 | $1.03 |
Undistributed earnings per common share | $0.44 | $0.39 | $0.31 | $0.78 |
Total earnings per common share - basic | $0.78 | $0.73 | $1.34 | $1.81 |
Unvested Restricted Stock [Member] | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Distributed earnings | 183 | 189 | 571 | 574 |
Undistributed earnings to common shareholders | 238 | 212 | 173 | 435 |
Total earnings allocated to unvested restricted stock | $421 | $401 | $744 | $1,009 |
Distributed earnings | $0.34 | $0.34 | $1.02 | $1.04 |
Undistributed earnings per common share | $0.43 | $0.37 | $0.31 | $0.78 |
Total earnings per common share - basic | $0.77 | $0.71 | $1.33 | $1.82 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Weighted average number of shares, Recognition and Retention Plan | 642,764 | 624,000 | 645,793 | 611,646 |
Weighted average number of shares, treasury stock | 2,189,978 | 2,036,132 | 2,249,068 | 1,801,572 |
Stock options having antidilutive effect on earnings per share | 402,344 | 834,559 | 678,604 | 703,346 |
Acquisition_and_Disposition_Ac2
Acquisition and Disposition Activity - Schedule of Branch Closure Costs (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Business Combinations [Abstract] | ' | ' | ' | ' |
Employee termination | ($70) | $384 | $299 | $384 |
Accelerated depreciation | 352 | 284 | 1,033 | 284 |
Contract termination | 591 | ' | 591 | ' |
Impairment | 323 | 2,743 | 4,941 | 2,743 |
Total | $1,196 | $3,411 | $6,864 | $3,411 |
Investment_Securities_Schedule
Investment Securities - Schedule of Amortized Cost and Fair Values of Investment Securities, with Gross Unrealized Gains and Losses (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | $1,967,293 | $1,706,916 |
Securities available for sale, Gross Unrealized Gains | 19,795 | 40,134 |
Securities available for sale, Gross Unrealized Losses | -22,699 | -2,046 |
Securities available for sale, Estimated Fair Value | 1,964,389 | 1,745,004 |
Securities held to maturity, Amortized Cost | 155,678 | 205,062 |
Securities held to maturity, Gross Unrealized Gains | 2,678 | 6,702 |
Securities held to maturity, Gross Unrealized Losses | -3,046 | -266 |
Securities held to maturity, Estimated Fair Value | 155,310 | 211,498 |
U.S. Government-Sponsored Enterprise Obligations [Member] | ' | ' |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 407,049 | 281,746 |
Securities available for sale, Gross Unrealized Gains | 1,878 | 4,364 |
Securities available for sale, Gross Unrealized Losses | -7,127 | -386 |
Securities available for sale, Estimated Fair Value | 401,800 | 285,724 |
Securities held to maturity, Amortized Cost | 34,471 | 69,949 |
Securities held to maturity, Gross Unrealized Gains | 650 | 1,244 |
Securities held to maturity, Gross Unrealized Losses | ' | ' |
Securities held to maturity, Estimated Fair Value | 35,121 | 71,193 |
Obligations of State and Political Obligations [Member] | ' | ' |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 109,509 | 120,680 |
Securities available for sale, Gross Unrealized Gains | 2,967 | 6,573 |
Securities available for sale, Gross Unrealized Losses | -235 | -178 |
Securities available for sale, Estimated Fair Value | 112,241 | 127,075 |
Securities held to maturity, Amortized Cost | 84,471 | 88,909 |
Securities held to maturity, Gross Unrealized Gains | 1,735 | 4,730 |
Securities held to maturity, Gross Unrealized Losses | -1,425 | -113 |
Securities held to maturity, Estimated Fair Value | 84,781 | 93,526 |
Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 1,449,275 | 1,303,030 |
Securities available for sale, Gross Unrealized Gains | 14,928 | 29,108 |
Securities available for sale, Gross Unrealized Losses | -15,337 | -1,482 |
Securities available for sale, Estimated Fair Value | 1,448,866 | 1,330,656 |
Securities held to maturity, Amortized Cost | 36,736 | 46,204 |
Securities held to maturity, Gross Unrealized Gains | 293 | 728 |
Securities held to maturity, Gross Unrealized Losses | -1,621 | -153 |
Securities held to maturity, Estimated Fair Value | 35,408 | 46,779 |
Other Securities [Member] | ' | ' |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 1,460 | 1,460 |
Securities available for sale, Gross Unrealized Gains | 22 | 89 |
Securities available for sale, Gross Unrealized Losses | ' | ' |
Securities available for sale, Estimated Fair Value | $1,482 | $1,549 |
Investment_Securities_Addition
Investment Securities - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Security | Bonds | ||
Security | |||
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' | ' |
Pledged securities, carrying values | $1,400,000,000 | $1,700,000,000 | ' |
Number of debt securities, held | 151 | 49 | ' |
Unrealized losses on debt securities, percent of amortized cost | 2.41% | 0.85% | ' |
Unrealized losses on debt securities, percent of Company's total amortized cost | 1.21% | 0.12% | ' |
Number of debt securities having unrealized losses | 151 | 49 | ' |
Number of securities recorded with an aggregate amortized cost | 13 | 3 | ' |
Number of securities, continuous unrealized loss position, twelve months or longer, fair value | 13 | 3 | ' |
Available-for-sale securities, amortized cost basis | 53,886,000 | 5,200,000 | ' |
Unrealized loss on securities | $2,354,000 | $187,000 | ' |
Unrated revenue municipal bond | ' | 1 | ' |
Impairment of par value bond, percentage | ' | ' | 50.00% |
Rated AAA by Fannie Mae Freddie Mac and Ginnie Mae Securities [Member] | ' | ' | ' |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' | ' |
Number of securities issued | 13 | ' | ' |
Rated AAA by Fannie Mae Freddie Mac and Ginnie Mae Securities [Member] | Maximum [Member] | ' | ' | ' |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' | ' |
Number of securities issued | 10 | 3 | ' |
Rated AAA by Fannie Mae Freddie Mac and Ginnie Mae Securities [Member] | Minimum [Member] | ' | ' | ' |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' | ' |
Number of securities issued | ' | 2 | ' |
Investment_Securities_Schedule1
Investment Securities - Schedule of Securities with Gross Unrealized Losses Aggregated by Investment Category (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' |
Securities available for sale, Less Than Twelve Months, Gross Unrealized Losses | ($21,233) | ($1,859) |
Securities available for sale, Less Than Twelve Months, Fair Value | 946,205 | 239,768 |
Securities available for sale, Over Twelve Months, Gross Unrealized Losses | -1,466 | -187 |
Securities available for sale, Over Twelve Months, Fair Value | 39,647 | 5,013 |
Securities available for sale, Gross Unrealized Losses, Total | -22,699 | -2,046 |
Securities available for sale, Fair Value, Total | 985,852 | 244,781 |
Securities held to maturity, Less Than Twelve Months, Gross Unrealized Losses | -2,158 | -266 |
Securities held to maturity, Less Than Twelve Months, Fair Value | 43,923 | 24,504 |
Securities held to maturity, Over Twelve Months, Gross Unrealized Losses | -888 | ' |
Securities held to maturity, Over Twelve Months, Fair Value | 11,885 | ' |
Securities held to maturity, Gross Unrealized Losses, Total | -3,046 | -266 |
Securities held to maturity, Fair Value, Total | 55,808 | 24,504 |
U.S. Government-Sponsored Enterprise Obligations [Member] | ' | ' |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' |
Securities available for sale, Less Than Twelve Months, Gross Unrealized Losses | -7,127 | -386 |
Securities available for sale, Less Than Twelve Months, Fair Value | 274,195 | 59,741 |
Securities available for sale, Over Twelve Months, Gross Unrealized Losses | ' | ' |
Securities available for sale, Over Twelve Months, Fair Value | ' | ' |
Securities available for sale, Gross Unrealized Losses, Total | -7,127 | -386 |
Securities available for sale, Fair Value, Total | 274,195 | 59,741 |
Obligations of State and Political Obligations [Member] | ' | ' |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' |
Securities available for sale, Less Than Twelve Months, Gross Unrealized Losses | -10 | ' |
Securities available for sale, Less Than Twelve Months, Fair Value | 326 | ' |
Securities available for sale, Over Twelve Months, Gross Unrealized Losses | -225 | -178 |
Securities available for sale, Over Twelve Months, Fair Value | 1,047 | 1,094 |
Securities available for sale, Gross Unrealized Losses, Total | -235 | -178 |
Securities available for sale, Fair Value, Total | 1,373 | 1,094 |
Securities held to maturity, Less Than Twelve Months, Gross Unrealized Losses | -1,308 | -113 |
Securities held to maturity, Less Than Twelve Months, Fair Value | 28,433 | 8,242 |
Securities held to maturity, Over Twelve Months, Gross Unrealized Losses | -117 | ' |
Securities held to maturity, Over Twelve Months, Fair Value | 2,080 | ' |
Securities held to maturity, Gross Unrealized Losses, Total | -1,425 | -113 |
Securities held to maturity, Fair Value, Total | 30,513 | 8,242 |
Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' |
Securities available for sale, Less Than Twelve Months, Gross Unrealized Losses | -14,096 | -1,473 |
Securities available for sale, Less Than Twelve Months, Fair Value | 671,684 | 180,027 |
Securities available for sale, Over Twelve Months, Gross Unrealized Losses | -1,241 | -9 |
Securities available for sale, Over Twelve Months, Fair Value | 38,600 | 3,919 |
Securities available for sale, Gross Unrealized Losses, Total | -15,337 | -1,482 |
Securities available for sale, Fair Value, Total | 710,284 | 183,946 |
Securities held to maturity, Less Than Twelve Months, Gross Unrealized Losses | -850 | -153 |
Securities held to maturity, Less Than Twelve Months, Fair Value | 15,490 | 16,262 |
Securities held to maturity, Over Twelve Months, Gross Unrealized Losses | -771 | ' |
Securities held to maturity, Over Twelve Months, Fair Value | 9,805 | ' |
Securities held to maturity, Gross Unrealized Losses, Total | -1,621 | -153 |
Securities held to maturity, Fair Value, Total | $25,295 | $16,262 |
Investment_Securities_Schedule2
Investment Securities - Schedule of Amortized Cost and Estimated Fair Value of Investment Securities by Maturity (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investments Debt And Equity Securities [Abstract] | ' | ' |
Securities Available for Sale, Weighted Average Yield, Within one year or less | 1.99% | ' |
Securities Available for Sale, Weighted Average Yield, One through five years | 1.38% | ' |
Securities Available for Sale, Weighted Average Yield, After five through ten years | 1.98% | ' |
Securities Available for Sale, Weighted Average Yield, Over ten years | 1.92% | ' |
Securities Available for Sale, Weighted Average Yield, Totals | 1.88% | ' |
Securities Available for Sale, Amortized Cost, Within one year or less | $16,230 | ' |
Securities Available for Sale, Amortized Cost, One through five years | 220,047 | ' |
Securities Available for Sale, Amortized Cost, After five through ten years | 596,282 | ' |
Securities Available for Sale, Amortized Cost, Over ten years | 1,134,734 | ' |
Securities Available for Sale, Amortized Cost, Totals | 1,967,293 | ' |
Securities Available for Sale, Fair Value, Within one year or less | 16,430 | ' |
Securities Available for Sale, Fair Value, One through five years | 220,114 | ' |
Securities Available for Sale, Fair Value, After five through ten years | 597,600 | ' |
Securities Available for Sale, Fair Value, Over ten years | 1,130,245 | ' |
Securities Available for Sale, Fair Value, Totals | 1,964,389 | ' |
Securities Held to Maturity, Weighted Average Yield, Within one year or less | 1.85% | ' |
Securities Held to Maturity, Weighted Average Yield, One through five years | 3.01% | ' |
Securities Held to Maturity, Weighted Average Yield, After five through ten years | 2.60% | ' |
Securities Held to Maturity, Weighted Average Yield, Over ten years | 2.92% | ' |
Securities Held to Maturity, Weighted Average Yield, Totals | 2.71% | ' |
Securities Held to Maturity, Amortized Cost, Within one year or less | 24,541 | ' |
Securities Held to Maturity, Amortized Cost, One through five years | 18,071 | ' |
Securities Held to Maturity, Amortized Cost, After five through ten years | 24,599 | ' |
Securities Held to Maturity, Amortized Cost, Over ten years | 88,467 | ' |
Securities Held to Maturity, Amortized Cost, Totals | 155,678 | 205,062 |
Securities Held to Maturity, Fair Value, Within one year or less | 24,815 | ' |
Securities Held to Maturity, Fair Value, One through five years | 18,685 | ' |
Securities Held to Maturity, Fair Value, After five through ten years | 25,040 | ' |
Securities Held to Maturity, Fair Value, Over ten years | 86,770 | ' |
Securities Held to Maturity, Fair Value, Totals | $155,310 | $211,498 |
Investment_Securities_Schedule3
Investment Securities - Schedule of Realized Gains and Losses from Sale of Securities Classified as Available for Sale (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Investments Debt And Equity Securities [Abstract] | ' | ' | ' | ' |
Realized gains | ' | $41 | $2,369 | $3,758 |
Realized losses | -3 | ' | -110 | -15 |
Net realized gains | ($3) | $41 | $2,259 | $3,743 |
Investment_Securities_Schedule4
Investment Securities - Schedule of Securities in Other Assets on Company's Consolidated Balance Sheets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investments Debt And Equity Securities [Abstract] | ' | ' |
Federal Home Loan Bank (FHLB) stock | $12,759 | $16,860 |
Federal Reserve Bank (FRB) stock | 28,098 | 28,155 |
Other investments | 1,306 | 1,201 |
Total equity securities | $42,163 | $46,216 |
Loans_Receivable_Schedule_of_L
Loans Receivable - Schedule of Loans Receivable (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | $9,043,037 | $8,498,580 |
Commercial Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 6,464,083 | 6,169,261 |
Commercial Loans [Member] | Real Estate [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 3,779,839 | 3,631,543 |
Commercial Loans [Member] | Business [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 2,684,244 | 2,537,718 |
Residential Mortgage Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 563,455 | 477,204 |
Residential Mortgage Loans [Member] | Residential 1-4 Family [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 555,869 | 471,183 |
Residential Mortgage Loans [Member] | Construction/ Owner Occupied [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 7,586 | 6,021 |
Consumer and Other Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 2,015,499 | 1,852,115 |
Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 1,281,014 | 1,251,125 |
Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 369,755 | 327,985 |
Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 364,730 | 273,005 |
Non-Covered Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 8,236,035 | 7,405,824 |
Non-Covered Loans [Member] | Commercial Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 5,964,155 | 5,441,367 |
Non-Covered Loans [Member] | Commercial Loans [Member] | Real Estate [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 3,320,333 | 2,990,700 |
Non-Covered Loans [Member] | Commercial Loans [Member] | Business [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 2,643,822 | 2,450,667 |
Non-Covered Loans [Member] | Residential Mortgage Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 409,940 | 290,040 |
Non-Covered Loans [Member] | Residential Mortgage Loans [Member] | Residential 1-4 Family [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 402,354 | 284,019 |
Non-Covered Loans [Member] | Residential Mortgage Loans [Member] | Construction/ Owner Occupied [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 7,586 | 6,021 |
Non-Covered Loans [Member] | Consumer and Other Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 1,861,940 | 1,674,417 |
Non-Covered Loans [Member] | Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 1,131,870 | 1,076,913 |
Non-Covered Loans [Member] | Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 369,755 | 327,985 |
Non-Covered Loans [Member] | Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 360,315 | 269,519 |
Covered Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 807,002 | 1,092,756 |
Covered Loans [Member] | Commercial Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 499,928 | 727,894 |
Covered Loans [Member] | Commercial Loans [Member] | Real Estate [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 459,506 | 640,843 |
Covered Loans [Member] | Commercial Loans [Member] | Business [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 40,422 | 87,051 |
Covered Loans [Member] | Residential Mortgage Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 153,515 | 187,164 |
Covered Loans [Member] | Residential Mortgage Loans [Member] | Residential 1-4 Family [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 153,515 | 187,164 |
Covered Loans [Member] | Residential Mortgage Loans [Member] | Construction/ Owner Occupied [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | ' | ' |
Covered Loans [Member] | Consumer and Other Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 153,559 | 177,698 |
Covered Loans [Member] | Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | 149,144 | 174,212 |
Covered Loans [Member] | Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | ' | ' |
Covered Loans [Member] | Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Total loans receivable | $4,415 | $3,486 |
Loans_Receivable_Additional_In
Loans Receivable - Additional Information (Detail) (USD $) | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Loans Receivable [Line Items] | ' | ' | ' |
Deferred loan origination fees | $16,445,000 | ' | $14,040,000 |
Deferred loan expenses | 7,154,000 | ' | 5,270,000 |
Deposit liabilities reclassified as loans receivable | 2,319,000 | ' | 3,231,000 |
Loans with carrying value pledged to secure public deposits and other borrowings | 2,200,000,000 | ' | 1,500,000,000 |
Non-covered troubled debt restructurings modified during the current period | 11,210,000 | 4,391,000 | ' |
Troubled Debt Restructurings [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Total TDRs | $19,941,000 | $21,840,000 | ' |
Loans_Receivable_Schedule_of_A
Loans Receivable - Schedule of Aging of Non-Covered Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | $8,525 | $10,345 |
Past Due, 60-89 days | 3,881 | 2,447 |
Past Due, Greater than 90 days | 45,256 | 49,288 |
Total past due | 57,662 | 62,080 |
Current | 7,661,911 | 6,685,425 |
Total Non-covered loans, Net of Unearned Income | 7,719,573 | 6,747,505 |
Recorded investment > 90 days and Accruing | 1,418 | 1,371 |
Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | ' | 60 |
Past Due, 60-89 days | ' | ' |
Past Due, Greater than 90 days | 2,430 | 5,479 |
Total past due | 2,430 | 5,539 |
Current | 380,665 | 288,137 |
Total Non-covered loans, Net of Unearned Income | 383,095 | 293,676 |
Recorded investment > 90 days and Accruing | ' | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 1,933 | 3,590 |
Past Due, 60-89 days | ' | ' |
Past Due, Greater than 90 days | 9,639 | 23,559 |
Total past due | 11,572 | 27,149 |
Current | 2,556,798 | 2,224,495 |
Total Non-covered loans, Net of Unearned Income | 2,568,370 | 2,251,644 |
Recorded investment > 90 days and Accruing | 151 | 83 |
Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Loans [Member] | Commercial Business [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 1,743 | 1,430 |
Past Due, 60-89 days | 6 | 13 |
Past Due, Greater than 90 days | 14,591 | 3,687 |
Total past due | 16,340 | 5,130 |
Current | 2,573,065 | 2,362,304 |
Total Non-covered loans, Net of Unearned Income | 2,589,405 | 2,367,434 |
Recorded investment > 90 days and Accruing | ' | 329 |
Non-Covered Loans Excluding Acquired Loans [Member] | Residential Mortgage Loans [Member] | Residential Prime [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 517 | 662 |
Past Due, 60-89 days | 2,297 | 1,156 |
Past Due, Greater than 90 days | 9,326 | 9,168 |
Total past due | 12,140 | 10,986 |
Current | 261,615 | 185,843 |
Total Non-covered loans, Net of Unearned Income | 273,755 | 196,829 |
Recorded investment > 90 days and Accruing | 1,267 | 801 |
Non-Covered Loans Excluding Acquired Loans [Member] | Residential Mortgage Loans [Member] | Residential Subprime [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | ' | ' |
Past Due, 60-89 days | ' | ' |
Past Due, Greater than 90 days | 442 | ' |
Total past due | 442 | ' |
Current | 115,715 | 60,454 |
Total Non-covered loans, Net of Unearned Income | 116,157 | 60,454 |
Recorded investment > 90 days and Accruing | ' | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 1,745 | 2,283 |
Past Due, 60-89 days | 577 | 796 |
Past Due, Greater than 90 days | 7,092 | 5,793 |
Total past due | 9,414 | 8,872 |
Current | 1,063,257 | 991,766 |
Total Non-covered loans, Net of Unearned Income | 1,072,671 | 1,000,638 |
Recorded investment > 90 days and Accruing | ' | 158 |
Non-Covered Loans Excluding Acquired Loans [Member] | Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 1,719 | 1,624 |
Past Due, 60-89 days | 439 | 326 |
Past Due, Greater than 90 days | 1,056 | 868 |
Total past due | 3,214 | 2,818 |
Current | 364,094 | 320,148 |
Total Non-covered loans, Net of Unearned Income | 367,308 | 322,966 |
Recorded investment > 90 days and Accruing | ' | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Consumer and Other Loans [Member] | Credit Card [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 184 | 130 |
Past Due, 60-89 days | 102 | 51 |
Past Due, Greater than 90 days | 425 | 424 |
Total past due | 711 | 605 |
Current | 59,225 | 51,117 |
Total Non-covered loans, Net of Unearned Income | 59,936 | 51,722 |
Recorded investment > 90 days and Accruing | ' | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 684 | 566 |
Past Due, 60-89 days | 460 | 105 |
Past Due, Greater than 90 days | 255 | 310 |
Total past due | 1,399 | 981 |
Current | 287,477 | 201,161 |
Total Non-covered loans, Net of Unearned Income | 288,876 | 202,142 |
Recorded investment > 90 days and Accruing | ' | ' |
Non-Covered Acquired Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 4,596 | 10,502 |
Past Due, 60-89 days | 1,172 | 2,499 |
Past Due, Greater than 90 days | 44,778 | 52,781 |
Total past due | 50,546 | 65,782 |
Current | 535,401 | 675,692 |
Discount | -69,485 | -83,155 |
Total Non-covered loans, Net of Unearned Income | 516,462 | 658,319 |
Recorded investment > 90 days and Accruing | 44,778 | 52,781 |
Non-Covered Acquired Loans [Member] | Commercial Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 97 | 369 |
Past Due, 60-89 days | ' | ' |
Past Due, Greater than 90 days | 3,457 | 4,067 |
Total past due | 3,554 | 4,436 |
Current | 15,020 | 29,098 |
Discount | -1,928 | -3,968 |
Total Non-covered loans, Net of Unearned Income | 16,646 | 29,566 |
Recorded investment > 90 days and Accruing | 3,457 | 4,067 |
Non-Covered Acquired Loans [Member] | Commercial Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 2,240 | 5,971 |
Past Due, 60-89 days | 438 | 1,572 |
Past Due, Greater than 90 days | 33,484 | 38,987 |
Total past due | 36,162 | 46,530 |
Current | 367,085 | 426,339 |
Discount | -51,025 | -57,055 |
Total Non-covered loans, Net of Unearned Income | 352,222 | 415,814 |
Recorded investment > 90 days and Accruing | 33,484 | 38,987 |
Non-Covered Acquired Loans [Member] | Commercial Loans [Member] | Commercial Business [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 444 | 1,410 |
Past Due, 60-89 days | 246 | 524 |
Past Due, Greater than 90 days | 1,880 | 3,953 |
Total past due | 2,570 | 5,887 |
Current | 59,949 | 89,490 |
Discount | -8,102 | -12,144 |
Total Non-covered loans, Net of Unearned Income | 54,417 | 83,233 |
Recorded investment > 90 days and Accruing | 1,880 | 3,953 |
Non-Covered Acquired Loans [Member] | Residential Mortgage Loans [Member] | Residential Prime [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | ' | ' |
Past Due, 60-89 days | ' | ' |
Past Due, Greater than 90 days | 226 | 779 |
Total past due | 226 | 779 |
Current | 20,388 | 30,663 |
Discount | -586 | 1,315 |
Total Non-covered loans, Net of Unearned Income | 20,028 | 32,757 |
Recorded investment > 90 days and Accruing | 226 | 779 |
Non-Covered Acquired Loans [Member] | Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 1,567 | 2,379 |
Past Due, 60-89 days | 302 | 382 |
Past Due, Greater than 90 days | 4,681 | 4,354 |
Total past due | 6,550 | 7,115 |
Current | 56,842 | 73,658 |
Discount | -4,193 | -4,498 |
Total Non-covered loans, Net of Unearned Income | 59,199 | 76,275 |
Recorded investment > 90 days and Accruing | 4,681 | 4,354 |
Non-Covered Acquired Loans [Member] | Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 86 | 171 |
Past Due, 60-89 days | 1 | 4 |
Past Due, Greater than 90 days | 102 | 146 |
Total past due | 189 | 321 |
Current | 2,258 | 4,698 |
Discount | ' | ' |
Total Non-covered loans, Net of Unearned Income | 2,447 | 5,019 |
Recorded investment > 90 days and Accruing | 102 | 146 |
Non-Covered Acquired Loans [Member] | Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 162 | 202 |
Past Due, 60-89 days | 185 | 17 |
Past Due, Greater than 90 days | 948 | 495 |
Total past due | 1,295 | 714 |
Current | 13,859 | 21,746 |
Discount | -3,651 | -6,805 |
Total Non-covered loans, Net of Unearned Income | 11,503 | 15,655 |
Recorded investment > 90 days and Accruing | $948 | $495 |
Loans_Receivable_Schedule_of_N
Loans Receivable - Schedule of Non-Covered Loans on Nonaccrual Status (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | $43,838 | $47,916 |
Commercial Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 2,430 | 5,479 |
Commercial Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 9,488 | 23,475 |
Commercial Loans [Member] | Business [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 14,591 | 3,358 |
Residential Mortgage Loans [Member] | Residential Prime [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 8,501 | 8,367 |
Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 7,092 | 5,635 |
Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 1,056 | 868 |
Consumer and Other Loans [Member] | Credit Card [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 425 | 424 |
Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | $255 | $310 |
Loans_Receivable_Schedule_of_C
Loans Receivable - Schedule of Carrying Amount of Acquired Covered Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | $78,484 | $213,645 |
Acquired Performing Loans | 728,518 | 879,111 |
Total Covered Loans | 807,002 | 1,092,756 |
Commercial Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 23,751 | 170,499 |
Acquired Performing Loans | 476,177 | 557,395 |
Total Covered Loans | 499,928 | 727,894 |
Residential Mortgage Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 28,333 | 20,232 |
Acquired Performing Loans | 125,182 | 166,932 |
Total Covered Loans | 153,515 | 187,164 |
Consumer and Other Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 26,400 | 22,914 |
Acquired Performing Loans | 127,159 | 154,784 |
Total Covered Loans | 153,559 | 177,698 |
Real Estate [Member] | Commercial Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 23,751 | 167,742 |
Acquired Performing Loans | 435,755 | 473,101 |
Total Covered Loans | 459,506 | 640,843 |
Business [Member] | Commercial Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | ' | 2,757 |
Acquired Performing Loans | 40,422 | 84,294 |
Total Covered Loans | 40,422 | 87,051 |
Residential 1-4 Family [Member] | Residential Mortgage Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 28,333 | 20,232 |
Acquired Performing Loans | 125,182 | 166,932 |
Total Covered Loans | 153,515 | 187,164 |
Home Equity [Member] | Consumer and Other Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 25,195 | 22,094 |
Acquired Performing Loans | 123,949 | 152,118 |
Total Covered Loans | 149,144 | 174,212 |
Consumer - Other [Member] | Consumer and Other Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 1,205 | 820 |
Acquired Performing Loans | 3,210 | 2,666 |
Total Covered Loans | $4,415 | $3,486 |
Loans_Receivable_Summary_of_Ch
Loans Receivable - Summary of Changes in Accretable Yields of Acquired Loans (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Loans Receivable [Line Items] | ' | ' |
Balance | $356,393 | $470,811 |
Transfers from nonaccretable difference to accretable yield | 40,628 | 5,307 |
Accretion | -132,712 | -187,171 |
Changes in expected cash flows not affecting nonaccretable differences | 91,734 | 57,161 |
Balance | 356,043 | 346,108 |
Acquired Impaired Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Balance | 76,623 | 83,834 |
Transfers from nonaccretable difference to accretable yield | 6,148 | 1,062 |
Accretion | -13,519 | -21,924 |
Changes in expected cash flows not affecting nonaccretable differences | 10,561 | 10,964 |
Balance | 79,813 | 73,936 |
Acquired Performing Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Balance | 279,770 | 386,977 |
Transfers from nonaccretable difference to accretable yield | 34,480 | 4,245 |
Accretion | -119,193 | -165,247 |
Changes in expected cash flows not affecting nonaccretable differences | 81,173 | 46,197 |
Balance | $276,230 | $272,172 |
Loans_Receivable_Schedule_of_T
Loans Receivable - Schedule of Troubled Debt Restructurings (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Commercial Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Accruing Loans, Current | ' | ' |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | ' | ' |
Total TDRs | ' | ' |
Commercial Loans [Member] | Real Estate [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Accruing Loans, Current | 411,000 | 370,000 |
Accruing Loans, Past Due Greater than 30 Days | ' | 264,000 |
Nonaccrual TDRs | 5,601,000 | 18,985,000 |
Total TDRs | 6,012,000 | 19,619,000 |
Commercial Loans [Member] | Business [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Accruing Loans, Current | 1,056,000 | 19,000 |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | 12,610,000 | 1,884,000 |
Total TDRs | 13,666,000 | 1,903,000 |
Residential Mortgage Loans [Member] | Residential Prime [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Accruing Loans, Current | ' | ' |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | ' | ' |
Total TDRs | ' | ' |
Residential Mortgage Loans [Member] | Residential Subprime [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Accruing Loans, Current | ' | ' |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | ' | ' |
Total TDRs | ' | ' |
Consumer and Other Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Accruing Loans, Current | 1,467,000 | 483,000 |
Accruing Loans, Past Due Greater than 30 Days | ' | 264,000 |
Nonaccrual TDRs | 18,474,000 | 21,093,000 |
Total TDRs | 19,941,000 | 21,840,000 |
Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Accruing Loans, Current | ' | 94,000 |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | 263,000 | 224,000 |
Total TDRs | 263,000 | 318,000 |
Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Accruing Loans, Current | ' | ' |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | ' | ' |
Total TDRs | ' | ' |
Consumer and Other Loans [Member] | Credit Card [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Accruing Loans, Current | ' | ' |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | ' | ' |
Total TDRs | ' | ' |
Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Accruing Loans, Current | ' | ' |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | ' | ' |
Total TDRs | ' | ' |
Loans_Receivable_Schedule_of_M
Loans Receivable - Schedule of Modified TDRs (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Receivables [Abstract] | ' | ' |
Extended maturities | ' | $412,000 |
Interest rate adjustment | ' | 481,000 |
Maturity and interest rate adjustment | ' | 2,389,000 |
Movement to or extension of interest-rate only payments | ' | 939,000 |
Forbearance | 11,210,000 | 170,000 |
Total | $11,210,000 | $4,391,000 |
Loans_Receivable_Schedule_of_S
Loans Receivable - Schedule of Subsequently Defaulted TDRs (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
SecurityLoan | SecurityLoan | |
TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | 5 | 17 |
Pre-modification Outstanding Recorded Investment | $12,507 | $4,599 |
Post-modification Outstanding Recorded Investment | 12,329 | 3,758 |
TDRs That Subsequently Defaulted In Past 12 Months [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | 60 | 57 |
Recorded Investment | 18,429 | 21,206 |
Real Estate [Member] | Commercial Loans [Member] | TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | 5 | 14 |
Pre-modification Outstanding Recorded Investment | 12,507 | 4,478 |
Post-modification Outstanding Recorded Investment | 12,329 | 3,707 |
Real Estate [Member] | Commercial Loans [Member] | TDRs That Subsequently Defaulted In Past 12 Months [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | 45 | 46 |
Recorded Investment | 6,012 | 19,048 |
Business [Member] | Commercial Loans [Member] | TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | ' | 1 |
Pre-modification Outstanding Recorded Investment | ' | 27 |
Post-modification Outstanding Recorded Investment | ' | ' |
Business [Member] | Commercial Loans [Member] | TDRs That Subsequently Defaulted In Past 12 Months [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | 13 | 8 |
Recorded Investment | 12,370 | 1,883 |
Residential Prime [Member] | Residential Mortgage Loans [Member] | TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | ' | ' |
Pre-modification Outstanding Recorded Investment | ' | ' |
Post-modification Outstanding Recorded Investment | ' | ' |
Residential Prime [Member] | Residential Mortgage Loans [Member] | TDRs That Subsequently Defaulted In Past 12 Months [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | ' | ' |
Recorded Investment | ' | ' |
Home Equity [Member] | Consumer and Other Loans [Member] | TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | ' | 1 |
Pre-modification Outstanding Recorded Investment | ' | 94 |
Post-modification Outstanding Recorded Investment | ' | 51 |
Home Equity [Member] | Consumer and Other Loans [Member] | TDRs That Subsequently Defaulted In Past 12 Months [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | 1 | 2 |
Recorded Investment | 47 | 275 |
Indirect Automobile [Member] | Consumer and Other Loans [Member] | TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | ' | ' |
Pre-modification Outstanding Recorded Investment | ' | ' |
Post-modification Outstanding Recorded Investment | ' | ' |
Indirect Automobile [Member] | Consumer and Other Loans [Member] | TDRs That Subsequently Defaulted In Past 12 Months [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | ' | ' |
Recorded Investment | ' | ' |
Credit Card [Member] | Consumer and Other Loans [Member] | TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | ' | ' |
Pre-modification Outstanding Recorded Investment | ' | ' |
Post-modification Outstanding Recorded Investment | ' | ' |
Credit Card [Member] | Consumer and Other Loans [Member] | TDRs That Subsequently Defaulted In Past 12 Months [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | ' | ' |
Recorded Investment | ' | ' |
Consumer - Other [Member] | Consumer and Other Loans [Member] | TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | ' | 1 |
Pre-modification Outstanding Recorded Investment | ' | ' |
Post-modification Outstanding Recorded Investment | ' | ' |
Consumer - Other [Member] | Consumer and Other Loans [Member] | TDRs That Subsequently Defaulted In Past 12 Months [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | 1 | 1 |
Recorded Investment | ' | ' |
Allowance_for_Credit_Losses_an2
Allowance for Credit Losses and Credit Quality - Effect of Change in Methodology on Company's Unaudited Consolidated Financial Statements (Detail) (USD $) | 9 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Loan Lease Allowance For Credit Losses Loan Activity And Report By Impairment Methodology [Line Items] | ' | ' | ' | ' |
Allowance for loan losses | $148,545 | $201,387 | $251,603 | $193,761 |
(Reversal of) Provision for loan losses | -445 | -15,805 | ' | ' |
Provision for unfunded lending commitments | 2,131 | ' | ' | ' |
(Reversal of) Provision for loan losses | $0 | ' | ' | ' |
Provision for unfunded lending commitments | $0.05 | ' | ' | ' |
Total provision for credit losses | $0.05 | ' | ' | ' |
Current Methodology [Member] | ' | ' | ' | ' |
Loan Lease Allowance For Credit Losses Loan Activity And Report By Impairment Methodology [Line Items] | ' | ' | ' | ' |
Allowance for loan losses | 64,165 | ' | ' | ' |
Reserve for unfunded lending commitments | 11,959 | ' | ' | ' |
Allowance for credit losses | 76,124 | ' | ' | ' |
(Reversal of) Provision for loan losses | 2,884 | ' | ' | ' |
Provision for unfunded lending commitments | 2,131 | ' | ' | ' |
Total provision for credit losses | 5,015 | ' | ' | ' |
Previous Methodology [Member] | ' | ' | ' | ' |
Loan Lease Allowance For Credit Losses Loan Activity And Report By Impairment Methodology [Line Items] | ' | ' | ' | ' |
Allowance for loan losses | 73,992 | ' | ' | ' |
Reserve for unfunded lending commitments | ' | ' | ' | ' |
Allowance for credit losses | 73,992 | ' | ' | ' |
(Reversal of) Provision for loan losses | 2,883 | ' | ' | ' |
Provision for unfunded lending commitments | ' | ' | ' | ' |
Total provision for credit losses | 2,883 | ' | ' | ' |
Difference of New And Previous Methodology [Member] | ' | ' | ' | ' |
Loan Lease Allowance For Credit Losses Loan Activity And Report By Impairment Methodology [Line Items] | ' | ' | ' | ' |
Allowance for loan losses | -9,827 | ' | ' | ' |
Reserve for unfunded lending commitments | 11,959 | ' | ' | ' |
Allowance for credit losses | 2,132 | ' | ' | ' |
(Reversal of) Provision for loan losses | 1 | ' | ' | ' |
Provision for unfunded lending commitments | 2,131 | ' | ' | ' |
Total provision for credit losses | $2,132 | ' | ' | ' |
Allowance_for_Credit_Losses_an3
Allowance for Credit Losses and Credit Quality - Schedule of Allowance for Loan Losses for Covered Loan and Non-Covered Loan Portfolios (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | $251,603 | $193,761 |
(Reversal of) Provision for loan losses before benefit attributable to FDIC loss share agreements | -58,120 | 49,591 |
Adjustment attributable to FDIC loss share arrangements | 58,565 | -33,786 |
Net (reversal of) provision for loan losses | 445 | 15,805 |
Increase (Decrease) in FDIC loss share receivable | -58,565 | 33,786 |
Transfer of balance to OREO | -30,315 | -24,177 |
Transfer of balance to the RULC | -9,828 | ' |
Loans charged-off | -9,148 | -20,280 |
Recoveries | 4,353 | 2,492 |
Balance at end of period | 148,545 | 201,387 |
Balance at beginning of period | ' | ' |
Transfer of balance from the allowance for loan losses | 9,828 | ' |
Provision for unfunded lending commitments | 2,131 | ' |
Balance at end of period | 11,959 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | 74,211 | 74,861 |
(Reversal of) Provision for loan losses before benefit attributable to FDIC loss share agreements | 2,884 | 6,518 |
Adjustment attributable to FDIC loss share arrangements | ' | ' |
Net (reversal of) provision for loan losses | 2,884 | 6,518 |
Increase (Decrease) in FDIC loss share receivable | ' | ' |
Transfer of balance to OREO | ' | ' |
Transfer of balance to the RULC | -9,828 | ' |
Loans charged-off | -7,455 | -6,818 |
Recoveries | 4,353 | 2,455 |
Balance at end of period | 64,165 | 77,016 |
Balance at beginning of period | ' | ' |
Transfer of balance from the allowance for loan losses | 9,828 | ' |
Provision for unfunded lending commitments | 2,131 | ' |
Balance at end of period | 11,959 | ' |
Non-Covered Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | 8,816 | ' |
(Reversal of) Provision for loan losses before benefit attributable to FDIC loss share agreements | -2,464 | 5,805 |
Adjustment attributable to FDIC loss share arrangements | ' | ' |
Net (reversal of) provision for loan losses | -2,464 | 5,805 |
Increase (Decrease) in FDIC loss share receivable | ' | ' |
Transfer of balance to OREO | -1,013 | -408 |
Transfer of balance to the RULC | ' | ' |
Loans charged-off | -10 | -179 |
Recoveries | ' | 18 |
Balance at end of period | 5,329 | 5,236 |
Balance at beginning of period | ' | ' |
Transfer of balance from the allowance for loan losses | ' | ' |
Provision for unfunded lending commitments | ' | ' |
Balance at end of period | ' | ' |
Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | 168,576 | 118,900 |
(Reversal of) Provision for loan losses before benefit attributable to FDIC loss share agreements | -58,540 | 37,268 |
Adjustment attributable to FDIC loss share arrangements | 58,565 | -33,786 |
Net (reversal of) provision for loan losses | 25 | 3,482 |
Increase (Decrease) in FDIC loss share receivable | -58,565 | 33,786 |
Transfer of balance to OREO | -29,302 | -23,769 |
Transfer of balance to the RULC | ' | ' |
Loans charged-off | -1,683 | -13,283 |
Recoveries | ' | 19 |
Balance at end of period | 79,051 | 119,135 |
Balance at beginning of period | ' | ' |
Transfer of balance from the allowance for loan losses | ' | ' |
Provision for unfunded lending commitments | ' | ' |
Balance at end of period | ' | ' |
Allowance_for_Credit_Losses_an4
Allowance for Credit Losses and Credit Quality - Schedule of Allowance for Loan Losses for Covered Loans, by Loan Portfolio (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | $251,603 | $193,761 |
(Reversal of) Provision for loan losses | 445 | 15,805 |
(Decrease) Increase in FDIC loss share receivable | -58,565 | 33,786 |
Transfer of balance to OREO | -30,315 | -24,177 |
Transfer of balance to the RULC | -9,828 | ' |
Loans charged off | -9,148 | -20,280 |
Recoveries | 4,353 | 2,492 |
Balance at end of period | 148,545 | 201,387 |
Balance at beginning of period | ' | ' |
Transfer of balance from the allowance for loan losses | 9,828 | ' |
Provision for unfunded commitments | 2,131 | ' |
Balance at end of period | 11,959 | ' |
Balance at end of period | 8,894,492 | ' |
Balance at end of period | 8,246,977 | ' |
Non-Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | 83,027 | 74,861 |
(Reversal of) Provision for loan losses | 420 | 12,323 |
Transfer of balance to OREO | -1,013 | -408 |
Transfer of balance to the RULC | -9,828 | ' |
Loans charged off | -7,465 | -6,997 |
Recoveries | 4,353 | 2,473 |
Balance at end of period | 69,494 | 82,252 |
Balance at beginning of period | ' | ' |
Transfer of balance from the allowance for loan losses | 9,828 | ' |
Provision for unfunded commitments | 2,131 | ' |
Balance at end of period | 11,959 | ' |
Allowance on loans individually evaluated for impairment | 1,092 | 1,541 |
Allowance on loans collectively evaluated for impairment | 68,402 | 80,711 |
Balance at end of period | 8,236,035 | 7,090,696 |
Balance at end of period individually evaluated for impairment | 25,747 | 30,262 |
Balance at end of period collectively evaluated for impairment | 8,210,288 | 7,060,434 |
Balance at end of period acquired with deteriorated credit quality | 18,267 | 69,799 |
Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | 168,576 | 118,900 |
(Reversal of) Provision for loan losses | 25 | 3,482 |
(Decrease) Increase in FDIC loss share receivable | -58,565 | 33,786 |
Transfer of balance to OREO | -29,302 | -23,769 |
Transfer of balance to the RULC | ' | ' |
Loans charged off | -1,683 | -13,283 |
Recoveries | ' | 19 |
Balance at end of period | 79,051 | 119,135 |
Balance at beginning of period | ' | ' |
Transfer of balance from the allowance for loan losses | ' | ' |
Provision for unfunded commitments | ' | ' |
Balance at end of period | ' | ' |
Allowance on loans individually evaluated for impairment | ' | ' |
Allowance on loans collectively evaluated for impairment | 79,051 | 119,135 |
Balance at end of period | ' | 1,139,250 |
Balance at end of period | 807,002 | ' |
Balance at end of period individually evaluated for impairment | ' | ' |
Balance at end of period collectively evaluated for impairment | 807,002 | 1,139,250 |
Balance at end of period acquired with deteriorated credit quality | 78,484 | 221,960 |
Commercial Real Estate [Member] | Non-Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | 38,264 | 35,604 |
(Reversal of) Provision for loan losses | -6,926 | 4,199 |
Transfer of balance to OREO | -279 | -62 |
Transfer of balance to the RULC | -2,939 | ' |
Loans charged off | -1,966 | -1,195 |
Recoveries | 1,498 | 790 |
Balance at end of period | 27,652 | 39,336 |
Balance at beginning of period | ' | ' |
Transfer of balance from the allowance for loan losses | 2,939 | ' |
Provision for unfunded commitments | 1,207 | ' |
Balance at end of period | 4,146 | ' |
Allowance on loans individually evaluated for impairment | 8 | 1,173 |
Allowance on loans collectively evaluated for impairment | 27,644 | 38,163 |
Balance at end of period | 3,320,333 | 2,879,836 |
Balance at end of period individually evaluated for impairment | 9,529 | 26,353 |
Balance at end of period collectively evaluated for impairment | 3,310,804 | 2,853,483 |
Balance at end of period acquired with deteriorated credit quality | 16,287 | 60,360 |
Commercial Real Estate [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | 100,871 | 69,175 |
(Reversal of) Provision for loan losses | 27 | 3,550 |
(Decrease) Increase in FDIC loss share receivable | -30,853 | 24,229 |
Transfer of balance to OREO | -22,375 | -9,876 |
Loans charged off | -1,683 | -13,143 |
Recoveries | ' | 16 |
Balance at end of period | 45,987 | 73,951 |
Allowance on loans individually evaluated for impairment | ' | ' |
Allowance on loans collectively evaluated for impairment | 45,987 | 73,951 |
Balance at end of period | ' | 670,001 |
Balance at end of period | 459,506 | ' |
Balance at end of period individually evaluated for impairment | ' | ' |
Balance at end of period collectively evaluated for impairment | 459,506 | 670,001 |
Balance at end of period acquired with deteriorated credit quality | 23,751 | 171,965 |
Commercial Business [Member] | Non-Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | 28,721 | 25,705 |
(Reversal of) Provision for loan losses | -582 | 3,851 |
Transfer of balance to OREO | -81 | ' |
Transfer of balance to the RULC | -3,497 | ' |
Loans charged off | -531 | -769 |
Recoveries | 354 | 80 |
Balance at end of period | 24,384 | 28,867 |
Balance at beginning of period | ' | ' |
Transfer of balance from the allowance for loan losses | 3,497 | ' |
Provision for unfunded commitments | 610 | ' |
Balance at end of period | 4,107 | ' |
Allowance on loans individually evaluated for impairment | 801 | 162 |
Allowance on loans collectively evaluated for impairment | 23,583 | 28,705 |
Balance at end of period | 2,643,822 | 2,357,303 |
Balance at end of period individually evaluated for impairment | 14,548 | 1,888 |
Balance at end of period collectively evaluated for impairment | 2,629,274 | 2,355,415 |
Balance at end of period acquired with deteriorated credit quality | 45 | 3,675 |
Commercial Business [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | 11,375 | 9,788 |
(Reversal of) Provision for loan losses | ' | 922 |
(Decrease) Increase in FDIC loss share receivable | -3,137 | 2,398 |
Transfer of balance to OREO | -314 | -2,475 |
Loans charged off | ' | ' |
Recoveries | ' | ' |
Balance at end of period | 7,924 | 10,633 |
Allowance on loans individually evaluated for impairment | ' | ' |
Allowance on loans collectively evaluated for impairment | 7,924 | 10,633 |
Balance at end of period | ' | 91,822 |
Balance at end of period | 40,422 | ' |
Balance at end of period individually evaluated for impairment | ' | ' |
Balance at end of period collectively evaluated for impairment | 40,422 | 91,822 |
Balance at end of period acquired with deteriorated credit quality | ' | 3,522 |
Mortgage [Member] | Non-Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | 2,125 | 897 |
(Reversal of) Provision for loan losses | 1,048 | 1,344 |
Transfer of balance to OREO | -646 | -337 |
Transfer of balance to the RULC | -40 | ' |
Loans charged off | -481 | -759 |
Recoveries | 698 | 30 |
Balance at end of period | 2,704 | 1,175 |
Balance at beginning of period | ' | ' |
Transfer of balance from the allowance for loan losses | 40 | ' |
Provision for unfunded commitments | 38 | ' |
Balance at end of period | 78 | ' |
Allowance on loans individually evaluated for impairment | 283 | 163 |
Allowance on loans collectively evaluated for impairment | 2,421 | 1,012 |
Balance at end of period | 409,940 | 266,069 |
Balance at end of period individually evaluated for impairment | 1,407 | 1,703 |
Balance at end of period collectively evaluated for impairment | 408,533 | 264,366 |
Balance at end of period acquired with deteriorated credit quality | 120 | 430 |
Consumer [Member] | Non-Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | 13,917 | 12,655 |
(Reversal of) Provision for loan losses | 6,880 | 2,929 |
Transfer of balance to OREO | -7 | -9 |
Transfer of balance to the RULC | -3,352 | ' |
Loans charged off | -4,487 | -4,274 |
Recoveries | 1,803 | 1,573 |
Balance at end of period | 14,754 | 12,874 |
Balance at beginning of period | ' | ' |
Transfer of balance from the allowance for loan losses | 3,352 | ' |
Provision for unfunded commitments | 276 | ' |
Balance at end of period | 3,628 | ' |
Allowance on loans individually evaluated for impairment | ' | 43 |
Allowance on loans collectively evaluated for impairment | 14,754 | 12,831 |
Balance at end of period | 1,861,940 | 1,587,488 |
Balance at end of period individually evaluated for impairment | 263 | 318 |
Balance at end of period collectively evaluated for impairment | 1,861,677 | 1,587,170 |
Balance at end of period acquired with deteriorated credit quality | 1,815 | 5,334 |
Consumer [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | 33,764 | 18,753 |
(Reversal of) Provision for loan losses | -1 | 397 |
(Decrease) Increase in FDIC loss share receivable | -18,841 | 2,882 |
Transfer of balance to OREO | 1 | -825 |
Loans charged off | ' | -9 |
Recoveries | ' | 3 |
Balance at end of period | 14,923 | 21,201 |
Allowance on loans individually evaluated for impairment | ' | ' |
Allowance on loans collectively evaluated for impairment | 14,923 | 21,201 |
Balance at end of period | ' | 180,094 |
Balance at end of period | 153,559 | ' |
Balance at end of period individually evaluated for impairment | ' | ' |
Balance at end of period collectively evaluated for impairment | 153,559 | 180,094 |
Balance at end of period acquired with deteriorated credit quality | 26,400 | 24,388 |
Unallocated [Member] | Non-Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | ' | ' |
(Reversal of) Provision for loan losses | ' | ' |
Transfer of balance to OREO | ' | ' |
Transfer of balance to the RULC | ' | ' |
Loans charged off | ' | ' |
Recoveries | ' | ' |
Balance at end of period | ' | ' |
Balance at beginning of period | ' | ' |
Transfer of balance from the allowance for loan losses | ' | ' |
Provision for unfunded commitments | ' | ' |
Balance at end of period | ' | ' |
Allowance on loans individually evaluated for impairment | ' | ' |
Allowance on loans collectively evaluated for impairment | ' | ' |
Balance at end of period | ' | ' |
Balance at end of period individually evaluated for impairment | ' | ' |
Balance at end of period collectively evaluated for impairment | ' | ' |
Balance at end of period acquired with deteriorated credit quality | ' | ' |
Unallocated [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | ' | ' |
(Reversal of) Provision for loan losses | ' | ' |
(Decrease) Increase in FDIC loss share receivable | ' | ' |
Transfer of balance to OREO | ' | ' |
Loans charged off | ' | ' |
Recoveries | ' | ' |
Balance at end of period | ' | ' |
Allowance on loans individually evaluated for impairment | ' | ' |
Allowance on loans collectively evaluated for impairment | ' | ' |
Balance at end of period | ' | ' |
Balance at end of period | ' | ' |
Balance at end of period individually evaluated for impairment | ' | ' |
Balance at end of period collectively evaluated for impairment | ' | ' |
Balance at end of period acquired with deteriorated credit quality | ' | ' |
Mortgage [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | 22,566 | 21,184 |
(Reversal of) Provision for loan losses | -1 | -1,387 |
(Decrease) Increase in FDIC loss share receivable | -5,734 | 4,277 |
Transfer of balance to OREO | -6,614 | -10,593 |
Loans charged off | ' | -131 |
Recoveries | ' | ' |
Balance at end of period | 10,217 | 13,350 |
Allowance on loans individually evaluated for impairment | ' | ' |
Allowance on loans collectively evaluated for impairment | 10,217 | 13,350 |
Balance at end of period | ' | 197,333 |
Balance at end of period | 153,515 | ' |
Balance at end of period individually evaluated for impairment | ' | ' |
Balance at end of period collectively evaluated for impairment | 153,515 | 197,333 |
Balance at end of period acquired with deteriorated credit quality | $28,333 | $22,085 |
Allowance_for_Credit_Losses_an5
Allowance for Credit Losses and Credit Quality - Investment in Covered Loans and Non-Covered Loans by Credit Quality Indicator (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | $8,236,035 | $7,405,824 |
Total | 807,002 | 1,092,756 |
Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 7,661,911 | 6,685,425 |
30+ Days Past Due | 57,662 | 62,080 |
Total | 2,178,703 | 1,834,751 |
Internally Assigned Grade Loss [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 5,540,870 | 4,912,754 |
Internally Assigned Grade Loss [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 552,865 | 806,092 |
Discount | -52,937 | -78,198 |
Total | 499,928 | 727,894 |
Pass [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 5,424,892 | 4,728,619 |
Pass [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 223,527 | 286,014 |
Special Mention [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 51,350 | 78,954 |
Special Mention [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 65,233 | 83,986 |
Substandard [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 63,558 | 104,735 |
Substandard [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 254,835 | 426,504 |
Doubtful [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 1,070 | 446 |
Doubtful [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 9,270 | 9,588 |
Residential Prime [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 261,615 | 185,843 |
30+ Days Past Due | 12,140 | 10,986 |
Total | 273,755 | 196,829 |
Home Equity [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 1,063,257 | 991,766 |
30+ Days Past Due | 9,414 | 8,872 |
Total | 1,072,671 | 1,000,638 |
Indirect Automobile [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 364,094 | 320,148 |
30+ Days Past Due | 3,214 | 2,818 |
Total | 367,308 | 322,966 |
Consumer - Other [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 287,477 | 201,161 |
30+ Days Past Due | 1,399 | 981 |
Total | 288,876 | 202,142 |
Commercial Real Estate Construction [Member] | Internally Assigned Grade Loss [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 383,095 | 293,676 |
Commercial Real Estate Construction [Member] | Internally Assigned Grade Loss [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 95,751 | 154,011 |
Commercial Real Estate Construction [Member] | Pass [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 374,458 | 269,842 |
Commercial Real Estate Construction [Member] | Pass [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 44,312 | 46,201 |
Commercial Real Estate Construction [Member] | Special Mention [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 4,800 | 16,767 |
Commercial Real Estate Construction [Member] | Special Mention [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 8,093 | 9,888 |
Commercial Real Estate Construction [Member] | Substandard [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 3,837 | 7,067 |
Commercial Real Estate Construction [Member] | Substandard [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 42,849 | 97,315 |
Commercial Real Estate Construction [Member] | Doubtful [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | ' | ' |
Commercial Real Estate Construction [Member] | Doubtful [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 497 | 607 |
Commercial Real Estate - Other [Member] | Internally Assigned Grade Loss [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 2,568,370 | 2,251,644 |
Commercial Real Estate - Other [Member] | Internally Assigned Grade Loss [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 404,566 | 554,460 |
Commercial Real Estate - Other [Member] | Pass [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 2,503,820 | 2,162,989 |
Commercial Real Estate - Other [Member] | Pass [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 146,103 | 201,261 |
Commercial Real Estate - Other [Member] | Special Mention [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 37,537 | 40,547 |
Commercial Real Estate - Other [Member] | Special Mention [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 56,182 | 65,498 |
Commercial Real Estate - Other [Member] | Substandard [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 26,896 | 47,710 |
Commercial Real Estate - Other [Member] | Substandard [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 194,785 | 279,171 |
Commercial Real Estate - Other [Member] | Doubtful [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 117 | 398 |
Commercial Real Estate - Other [Member] | Doubtful [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 7,496 | 8,530 |
Commercial Business [Member] | Internally Assigned Grade Loss [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 2,589,405 | 2,367,434 |
Commercial Business [Member] | Internally Assigned Grade Loss [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 52,548 | 97,621 |
Commercial Business [Member] | Pass [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 2,546,614 | 2,295,788 |
Commercial Business [Member] | Pass [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 33,112 | 38,552 |
Commercial Business [Member] | Special Mention [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 9,013 | 21,640 |
Commercial Business [Member] | Special Mention [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 958 | 8,600 |
Commercial Business [Member] | Substandard [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 32,825 | 49,958 |
Commercial Business [Member] | Substandard [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 17,201 | 50,018 |
Commercial Business [Member] | Doubtful [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 953 | 48 |
Commercial Business [Member] | Doubtful [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 1,277 | 451 |
Residential Subprime [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 115,715 | 60,454 |
30+ Days Past Due | 442 | ' |
Total | 116,157 | 60,454 |
Credit Card [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 59,225 | 51,117 |
30+ Days Past Due | 711 | 605 |
Total | 59,936 | 51,722 |
Non-Covered Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 93,347 | 130,765 |
30+ Days Past Due | 8,260 | 8,929 |
Discount | -8,430 | -9,988 |
Total | 93,177 | 129,706 |
Non-Covered Acquired Loans [Member] | Internally Assigned Grade Loss [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Discount | -61,055 | -73,167 |
Total | 423,285 | 528,613 |
Non-Covered Acquired Loans [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 390,146 | 471,143 |
Non-Covered Acquired Loans [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 22,000 | 32,754 |
Non-Covered Acquired Loans [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 71,894 | 95,456 |
Non-Covered Acquired Loans [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 300 | 2,427 |
Non-Covered Acquired Loans [Member] | Residential Prime [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 20,388 | 30,663 |
30+ Days Past Due | 226 | 779 |
Discount | -586 | 1,315 |
Total | 20,028 | 32,757 |
Non-Covered Acquired Loans [Member] | Home Equity [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 56,842 | 73,658 |
30+ Days Past Due | 6,550 | 7,115 |
Discount | -4,193 | -4,498 |
Total | 59,199 | 76,275 |
Non-Covered Acquired Loans [Member] | Indirect Automobile [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 2,258 | 4,698 |
30+ Days Past Due | 189 | 321 |
Discount | ' | ' |
Total | 2,447 | 5,019 |
Non-Covered Acquired Loans [Member] | Consumer - Other [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 13,859 | 21,746 |
30+ Days Past Due | 1,295 | 714 |
Discount | -3,651 | -6,805 |
Total | 11,503 | 15,655 |
Non-Covered Acquired Loans [Member] | Commercial Real Estate Construction [Member] | Internally Assigned Grade Loss [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Discount | -1,928 | -3,968 |
Total | 16,646 | 29,566 |
Non-Covered Acquired Loans [Member] | Commercial Real Estate Construction [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 12,900 | 25,896 |
Non-Covered Acquired Loans [Member] | Commercial Real Estate Construction [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 1,321 | 2,410 |
Non-Covered Acquired Loans [Member] | Commercial Real Estate Construction [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 4,353 | 5,228 |
Non-Covered Acquired Loans [Member] | Commercial Real Estate Construction [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | ' | ' |
Non-Covered Acquired Loans [Member] | Commercial Real Estate - Other [Member] | Internally Assigned Grade Loss [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Discount | -51,025 | -57,055 |
Total | 352,222 | 415,814 |
Non-Covered Acquired Loans [Member] | Commercial Real Estate - Other [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 320,781 | 359,046 |
Non-Covered Acquired Loans [Member] | Commercial Real Estate - Other [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 18,438 | 28,185 |
Non-Covered Acquired Loans [Member] | Commercial Real Estate - Other [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 63,816 | 85,420 |
Non-Covered Acquired Loans [Member] | Commercial Real Estate - Other [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 212 | 218 |
Non-Covered Acquired Loans [Member] | Commercial Business [Member] | Internally Assigned Grade Loss [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Discount | -8,102 | -12,144 |
Total | 54,417 | 83,233 |
Non-Covered Acquired Loans [Member] | Commercial Business [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 56,465 | 86,201 |
Non-Covered Acquired Loans [Member] | Commercial Business [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 2,241 | 2,159 |
Non-Covered Acquired Loans [Member] | Commercial Business [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 3,725 | 4,808 |
Non-Covered Acquired Loans [Member] | Commercial Business [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit quality indicator by asset risk classification | 88 | 2,209 |
Mortgage [Member] | Residential Prime [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 164,214 | 183,795 |
30+ Days Past Due | 33,114 | 52,379 |
Discount | -43,813 | -49,010 |
Mortgage [Member] | Residential Prime [Member] | Internally Assigned Grade Loss [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 153,515 | 187,164 |
Consumer Loans [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 315,824 | 354,519 |
30+ Days Past Due | 75,037 | 119,964 |
Discount | -83,787 | -109,621 |
Consumer Loans [Member] | Internally Assigned Grade Loss [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 307,074 | 364,862 |
Consumer Loans [Member] | Home Equity [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 150,302 | 168,729 |
30+ Days Past Due | 41,683 | 65,997 |
Discount | -42,841 | -60,514 |
Consumer Loans [Member] | Home Equity [Member] | Internally Assigned Grade Loss [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 149,144 | 174,212 |
Consumer Loans [Member] | Consumer - Other [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 643 | 1,154 |
30+ Days Past Due | 204 | 1,523 |
Discount | 2,867 | -97 |
Consumer Loans [Member] | Consumer - Other [Member] | Internally Assigned Grade Loss [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 3,714 | 2,580 |
Consumer Loans [Member] | Credit Card [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Credit risk by payment status, Current | 665 | 841 |
30+ Days Past Due | 36 | 65 |
Discount | ' | ' |
Consumer Loans [Member] | Credit Card [Member] | Internally Assigned Grade Loss [Member] | Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | $701 | $906 |
Allowance_for_Credit_Losses_an6
Allowance for Credit Losses and Credit Quality - Schedule of Investment in Impaired Loan (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 23, 2013 | Dec. 31, 2012 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' |
Recorded Investment | ' | ' | ' | ' | $46,283 | $50,079 |
Unpaid Principal Balance | ' | ' | ' | ' | 46,712 | 51,071 |
Related Allowance | ' | ' | ' | ' | -429 | -992 |
Average Recorded Investment | 50,310 | 50,702 | 49,840 | 52,882 | ' | ' |
Interest Income Recognized | 23 | 24 | 136 | 1,029 | ' | ' |
Commercial Loans [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' |
Recorded Investment | ' | ' | ' | ' | 27,942 | 32,773 |
Unpaid Principal Balance | ' | ' | ' | ' | 27,976 | 33,448 |
Related Allowance | ' | ' | ' | ' | -34 | -675 |
Average Recorded Investment | 31,006 | 32,938 | 30,233 | 36,340 | ' | ' |
Interest Income Recognized | 23 | 24 | 89 | 745 | ' | ' |
Commercial Loans [Member] | With No Related Allowance Recorded [Member] | Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' |
Recorded Investment | ' | ' | ' | ' | 9,392 | 26,151 |
Unpaid Principal Balance | ' | ' | ' | ' | 9,392 | 26,151 |
Related Allowance | ' | ' | ' | ' | ' | ' |
Average Recorded Investment | 10,703 | 27,547 | 12,787 | 29,872 | ' | ' |
Interest Income Recognized | 6 | 15 | 22 | 651 | ' | ' |
Commercial Loans [Member] | With No Related Allowance Recorded [Member] | Business [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' |
Recorded Investment | ' | ' | ' | ' | 13,068 | 1,824 |
Unpaid Principal Balance | ' | ' | ' | ' | 13,068 | 1,824 |
Related Allowance | ' | ' | ' | ' | ' | ' |
Average Recorded Investment | 13,218 | 2,451 | 8,608 | 3,387 | ' | ' |
Interest Income Recognized | 17 | ' | 59 | 71 | ' | ' |
Commercial Loans [Member] | With No Related Allowance Recorded [Member] | Home Equity [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' |
Recorded Investment | ' | ' | ' | ' | 263 | ' |
Unpaid Principal Balance | ' | ' | ' | ' | 263 | ' |
Related Allowance | ' | ' | ' | ' | ' | ' |
Commercial Loans [Member] | With An Allowance Recorded [Member] | Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' |
Recorded Investment | ' | ' | ' | ' | 2,913 | 3,464 |
Unpaid Principal Balance | ' | ' | ' | ' | 2,937 | 3,663 |
Related Allowance | ' | ' | ' | ' | -24 | -199 |
Average Recorded Investment | 4,346 | 2,731 | 6,092 | 2,866 | ' | ' |
Interest Income Recognized | ' | 8 | 5 | 22 | ' | ' |
Commercial Loans [Member] | With An Allowance Recorded [Member] | Business [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' |
Recorded Investment | ' | ' | ' | ' | 2,569 | 1,334 |
Unpaid Principal Balance | ' | ' | ' | ' | 2,579 | 1,810 |
Related Allowance | ' | ' | ' | ' | -10 | -476 |
Average Recorded Investment | 2,739 | 209 | 2,746 | 215 | ' | ' |
Interest Income Recognized | ' | 1 | 3 | 1 | ' | ' |
Consumer Loans [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' |
Recorded Investment | ' | ' | ' | ' | 8,766 | 7,445 |
Unpaid Principal Balance | ' | ' | ' | ' | 8,828 | 7,553 |
Related Allowance | ' | ' | ' | ' | -62 | -108 |
Average Recorded Investment | 9,654 | 8,516 | 10,227 | 9,103 | ' | ' |
Interest Income Recognized | ' | ' | 40 | 136 | ' | ' |
Consumer Loans [Member] | With No Related Allowance Recorded [Member] | Home Equity [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' |
Average Recorded Investment | 265 | 225 | 287 | 227 | ' | ' |
Interest Income Recognized | ' | ' | ' | ' | ' | ' |
Consumer Loans [Member] | With An Allowance Recorded [Member] | Home Equity [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' |
Recorded Investment | ' | ' | ' | ' | 6,784 | 5,860 |
Unpaid Principal Balance | ' | ' | ' | ' | 6,829 | 5,951 |
Related Allowance | ' | ' | ' | ' | -45 | -91 |
Average Recorded Investment | 7,244 | 6,184 | 7,458 | 6,502 | ' | ' |
Interest Income Recognized | ' | ' | 14 | 110 | ' | ' |
Consumer Loans [Member] | With An Allowance Recorded [Member] | Indirect Automobile [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' |
Recorded Investment | ' | ' | ' | ' | 1,050 | 865 |
Unpaid Principal Balance | ' | ' | ' | ' | 1,056 | 868 |
Related Allowance | ' | ' | ' | ' | -6 | -3 |
Average Recorded Investment | 1,349 | 1,135 | 1,610 | 1,345 | ' | ' |
Interest Income Recognized | ' | ' | 22 | 20 | ' | ' |
Consumer Loans [Member] | With An Allowance Recorded [Member] | Credit Card [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' |
Recorded Investment | ' | ' | ' | ' | 417 | 413 |
Unpaid Principal Balance | ' | ' | ' | ' | 425 | 424 |
Related Allowance | ' | ' | ' | ' | -8 | -11 |
Average Recorded Investment | 424 | 387 | 426 | 354 | ' | ' |
Interest Income Recognized | ' | ' | ' | ' | ' | ' |
Consumer Loans [Member] | With An Allowance Recorded [Member] | Consumer - Other [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' |
Recorded Investment | ' | ' | ' | ' | 252 | 307 |
Unpaid Principal Balance | ' | ' | ' | ' | 255 | 310 |
Related Allowance | ' | ' | ' | ' | -3 | -3 |
Average Recorded Investment | 372 | 585 | 446 | 675 | ' | ' |
Interest Income Recognized | ' | ' | 4 | 6 | ' | ' |
Mortgage Loans [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' |
Recorded Investment | ' | ' | ' | ' | 9,575 | 9,861 |
Unpaid Principal Balance | ' | ' | ' | ' | 9,908 | 10,070 |
Related Allowance | ' | ' | ' | ' | -333 | -209 |
Average Recorded Investment | 9,650 | 9,248 | 9,380 | 7,439 | ' | ' |
Interest Income Recognized | ' | ' | 7 | 148 | ' | ' |
Mortgage Loans [Member] | With An Allowance Recorded [Member] | Residential Prime [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' |
Recorded Investment | ' | ' | ' | ' | 9,575 | 9,861 |
Unpaid Principal Balance | ' | ' | ' | ' | 9,908 | 10,070 |
Related Allowance | ' | ' | ' | ' | -333 | -209 |
Average Recorded Investment | 9,650 | 9,248 | 9,380 | 7,439 | ' | ' |
Interest Income Recognized | ' | ' | $7 | $148 | ' | ' |
Loss_Sharing_Agreements_and_FD2
Loss Sharing Agreements and FDIC Loss Share Receivables - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended |
Mar. 31, 2013 | Sep. 30, 2013 | |
Business | ||
Receivables [Abstract] | ' | ' |
Percentage of covered loan and foreclosed real estate losses | ' | 80.00% |
Losses that exceed contractual thresholds | ' | 95.00% |
Number of acquisitions | ' | 4 |
Recovery period for loans | ' | '3 years |
Liability for reserve for amount of consideration | ' | $797,000 |
FDIC loss share receivables | ' | 204,900,000 |
Valuation allowance against indemnification assets | $31,813,000 | $31,813,000 |
Loss_Sharing_Agreements_and_FD3
Loss Sharing Agreements and FDIC Loss Share Receivables - Schedule of FDIC Loss Share Receivable (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
FDIC Loss Share Receivable [Line Items] | ' | ' | ' | ' | ' |
Balance | ' | $423,069 | ' | $423,069 | ' |
Amortization | -22,875 | ' | -33,488 | -68,707 | -89,899 |
Impairment | ' | 31,813 | ' | 31,813 | ' |
Balance | 204,885 | ' | ' | 204,885 | ' |
FDIC Loss Share Receivable [Member] | ' | ' | ' | ' | ' |
FDIC Loss Share Receivable [Line Items] | ' | ' | ' | ' | ' |
Balance | ' | 423,069 | ' | 423,069 | 591,844 |
Change due to (reversal of) credit loss provision recorded on FDIC covered loans | ' | ' | ' | -58,565 | 33,786 |
Amortization | ' | ' | ' | -68,707 | -89,899 |
Submission of reimbursable losses to the FDIC | ' | ' | ' | -44,910 | -97,511 |
Impairment | ' | ' | ' | -31,813 | ' |
Changes due to a change in cash flow assumptions on OREO and other | ' | ' | ' | -14,189 | -7,053 |
Balance | $204,885 | ' | $431,167 | $204,885 | $431,167 |
Transfers_and_Servicing_of_Fin2
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) - Components of Mortgage Banking Activity (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Mortgage Loan Activity [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | ' | ' | $267,475 | ' |
Originations | ' | ' | 1,712,557 | ' |
Sales | ' | ' | -1,923,455 | ' |
Balance at end of period | 108,285 | ' | 108,285 | ' |
Gains on sales | ' | ' | 51,709 | ' |
Total mortgage income | 15,202 | 23,215 | 51,841 | 55,118 |
Mortgage Loans Held for Sale [Member] | ' | ' | ' | ' |
Mortgage Loan Activity [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | ' | ' | 267,475 | 153,013 |
Originations | ' | ' | 1,712,557 | 1,749,121 |
Sales | ' | ' | -1,871,747 | -1,691,002 |
Balance at end of period | 108,285 | 211,132 | 108,285 | 211,132 |
Mortgage Income [Member] | ' | ' | ' | ' |
Mortgage Loan Activity [Line Items] | ' | ' | ' | ' |
Fair value changes of derivatives and mortgage loans held for sale, net | ' | ' | -270 | 2,954 |
Gains on sales | ' | ' | 51,709 | 51,828 |
Servicing and other income, net | ' | ' | 402 | 336 |
Total mortgage income | ' | ' | $51,841 | $55,118 |
Transfers_and_Servicing_of_Fin3
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) - Schedule of Mortgage Servicing Rights at Carrying Values (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $46,754 | $46,754 |
Accumulated Amortization | -30,238 | -26,694 |
Net Carrying Amount | 16,516 | 20,060 |
Mortgage Servicing Rights [Member] | ' | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 1,816 | 1,234 |
Accumulated Amortization | -543 | -304 |
Net Carrying Amount | $1,273 | $930 |
Goodwill_and_Other_Acquired_In2
Goodwill and Other Acquired Intangible Assets - Schedule of Carrying Amount of Goodwill (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
Beginning Balance | $401,872 | $369,811 |
Goodwill acquired during the period | ' | 32,420 |
Goodwill adjustment to correct an immaterial error | ' | -359 |
Ending Balance | $401,872 | $401,872 |
Goodwill_and_Other_Acquired_In3
Goodwill and Other Acquired Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2012 | Sep. 30, 2013 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
Decrease in goodwill | $359,000 | ' |
Impairment of goodwill | ' | 9,681,000 |
Title plant assets | $6,722,000 | $6,722,000 |
Goodwill_and_Other_Acquired_In4
Goodwill and Other Acquired Intangible Assets - Schedule of Definite-Lived Intangible Assets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill [Line Items] | ' | ' |
Gross Carrying Amount | $46,754 | $46,754 |
Accumulated Amortization | -30,238 | -26,694 |
Net Carrying Amount | 16,516 | 20,060 |
Core Deposit Intangibles [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Gross Carrying Amount | 45,406 | 45,406 |
Accumulated Amortization | -29,659 | -26,284 |
Net Carrying Amount | 15,747 | 19,122 |
Customer Relationship Intangible Asset [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Gross Carrying Amount | 1,348 | 1,348 |
Accumulated Amortization | -579 | -410 |
Net Carrying Amount | $769 | $938 |
Other_Real_Estate_Owned_Schedu
Other Real Estate Owned - Schedule of Other Real Estate Owned Segregated into Non-Covered and Covered Properties (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Real Estate Properties [Line Items] | ' | ' |
Real estate owned acquired by foreclosure | $116,877 | $110,864 |
Real estate acquired for development or resale | 10,518 | 9,199 |
Other foreclosed property | 1,592 | 1,473 |
Total other real estate owned and foreclosed property | 128,987 | 121,536 |
Non-covered Properties [Member] | ' | ' |
Real Estate Properties [Line Items] | ' | ' |
Real estate owned acquired by foreclosure | 31,261 | 35,080 |
Real estate acquired for development or resale | 10,518 | 9,199 |
Other foreclosed property | 109 | 14 |
Total other real estate owned and foreclosed property | 41,888 | 44,293 |
Covered Properties [Member] | ' | ' |
Real Estate Properties [Line Items] | ' | ' |
Real estate owned acquired by foreclosure | 85,616 | 75,784 |
Other foreclosed property | 1,483 | 1,459 |
Total other real estate owned and foreclosed property | $87,099 | $77,243 |
Derivative_Instruments_and_Oth2
Derivative Instruments and Other Hedging Activities - Schedule of Outstanding Derivative Instruments (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Fair Value | $26,177 | $35,202 |
Derivative Liability, Fair Value | 14,312 | 27,783 |
Derivative Asset, Notional Amount | 751,177 | 1,010,357 |
Derivative Liability, Notional Amount | 826,375 | 648,690 |
Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Notional Amount | ' | 35,000 |
Derivative Liability, Notional Amount | ' | 35,000 |
Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Notional Amount | 751,177 | 975,357 |
Derivative Liability, Notional Amount | 826,375 | 613,690 |
Other Assets [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Fair Value | 32,469 | 42,119 |
Other Assets [Member] | Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Fair Value | ' | 499 |
Other Assets [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Fair Value | 32,469 | 41,620 |
Other Liabilities [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Liability, Fair Value | 31,521 | 36,890 |
Other Liabilities [Member] | Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Liability, Fair Value | ' | 1,843 |
Other Liabilities [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Liability, Fair Value | 31,521 | 35,047 |
Interest Rate Contracts [Member] | Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Notional Amount | ' | 35,000 |
Derivative Liability, Notional Amount | ' | 35,000 |
Interest Rate Contracts [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Notional Amount | 376,374 | 374,536 |
Derivative Liability, Notional Amount | 376,374 | 374,536 |
Interest Rate Contracts [Member] | Other Assets [Member] | Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Fair Value | ' | 499 |
Interest Rate Contracts [Member] | Other Assets [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Fair Value | 14,312 | 25,940 |
Interest Rate Contracts [Member] | Other Liabilities [Member] | Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Liability, Fair Value | ' | 1,843 |
Interest Rate Contracts [Member] | Other Liabilities [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Liability, Fair Value | 14,312 | 25,940 |
Forward Sale Contracts [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Notional Amount | 8,218 | 212,028 |
Derivative Liability, Notional Amount | 253,051 | 53,269 |
Forward Sale Contracts [Member] | Other Assets [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Fair Value | 148 | 2,774 |
Forward Sale Contracts [Member] | Other Liabilities [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Liability, Fair Value | 5,289 | 343 |
Written and Purchased Options [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Notional Amount | 366,585 | 388,793 |
Derivative Liability, Notional Amount | 196,950 | 185,885 |
Written and Purchased Options [Member] | Other Assets [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Fair Value | 18,009 | 12,906 |
Written and Purchased Options [Member] | Other Liabilities [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Liability, Fair Value | $11,920 | $8,764 |
Derivative_Instruments_and_Oth3
Derivative Instruments and Other Hedging Activities - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ' |
Cash as collateral for derivative transactions | $5,630,000 | $2,650,000 |
Fair value of derivatives | $690,000 | ' |
Derivative_Instruments_and_Oth4
Derivative Instruments and Other Hedging Activities - Reconciliation of Gross Amounts in Consolidated Balance Sheets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts | $26,177 | $35,202 |
Derivative liabilities subject to master netting arrangements, Gross Amounts | 14,312 | 27,783 |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | 26,177 | 34,703 |
Derivative liabilities subject to master netting arrangements, Gross Amounts Not Offset | 8,654 | 13,934 |
Derivatives [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | ' | -499 |
Derivative liabilities subject to master netting arrangements, Gross Amounts Not Offset | ' | -499 |
Collateral [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | ' | ' |
Derivative liabilities subject to master netting arrangements, Gross Amounts Not Offset | -5,658 | -13,350 |
Interest Rate Contracts [Member] | Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts | ' | 499 |
Derivative liabilities subject to master netting arrangements, Gross Amounts | ' | 1,843 |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | ' | ' |
Derivative liabilities subject to master netting arrangements, Gross Amounts Not Offset | ' | 1,344 |
Interest Rate Contracts [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts | 14,312 | 25,940 |
Derivative liabilities subject to master netting arrangements, Gross Amounts | 14,312 | 25,940 |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | 14,312 | 25,940 |
Derivative liabilities subject to master netting arrangements, Gross Amounts Not Offset | 8,654 | 12,590 |
Interest Rate Contracts [Member] | Derivatives [Member] | Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | ' | -499 |
Derivative liabilities subject to master netting arrangements, Gross Amounts Not Offset | ' | -499 |
Interest Rate Contracts [Member] | Derivatives [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | ' | ' |
Derivative liabilities subject to master netting arrangements, Gross Amounts Not Offset | ' | ' |
Interest Rate Contracts [Member] | Collateral [Member] | Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | ' | ' |
Derivative liabilities subject to master netting arrangements, Gross Amounts Not Offset | ' | ' |
Interest Rate Contracts [Member] | Collateral [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | ' | ' |
Derivative liabilities subject to master netting arrangements, Gross Amounts Not Offset | -5,658 | -13,350 |
Written and Purchased Options [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts | 11,865 | 8,763 |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | 11,865 | 8,763 |
Written and Purchased Options [Member] | Derivatives [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | ' | ' |
Written and Purchased Options [Member] | Collateral [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | ' | ' |
Derivative_Instruments_and_Oth5
Derivative Instruments and Other Hedging Activities - Schedule of Derivative Instruments on Consolidated Financial Statements (Detail) (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 And Hedging Activities [Line Items] | ' | ' | ' | ' |
Amount of Gain (Loss) Recognized in OCI, net of taxes (Effective Portion) | ' | ($2,358) | ' | ($2,358) |
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | ' | -408 | -392 | -1,195 |
Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) | ' | ' | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivatives | ' | ' | 209 | ' |
Not Designated as Hedging Instruments [Member] | ' | ' | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivatives | -2,545 | 1,738 | -381 | 3,834 |
Not Designated as Hedging Instruments [Member] | Forward Sale Contracts [Member] | ' | ' | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivatives | 3,290 | -1,887 | 897 | -1,887 |
Not Designated as Hedging Instruments [Member] | Written and Purchased Options [Member] | ' | ' | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivatives | -7,896 | 3,378 | -3,820 | 5,094 |
Interest Rate Contracts [Member] | Not Designated as Hedging Instruments [Member] | Other Income (Expense) [Member] | ' | ' | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivatives | 2,061 | 247 | 2,542 | 627 |
Interest Rate Contracts [Member] | Cash Flow Hedging [Member] | ' | ' | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' | ' | ' |
Amount of Gain (Loss) Recognized in OCI, net of taxes (Effective Portion) | ' | -2,358 | ' | -2,358 |
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | ' | -408 | -392 | -1,195 |
Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) | ' | ' | ' | ' |
Other_Comprehensive_Income_Sum
Other Comprehensive Income - Summary of Tax Effects of Each Component of Other Comprehensive Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Comprehensive Income Loss [Abstract] | ' | ' | ' | ' |
Unrealized holding gains/losses arising during the period, Before-Tax Amount | $5,528 | $6,099 | ($38,769) | $8,236 |
Less: reclassification adjustment for losses/gains included in net income, Before-Tax Amount | 3 | -41 | -2,259 | -3,743 |
Net unrealized gains/losses, Before-Tax Amount | 5,531 | 6,058 | -41,028 | 4,493 |
Change in fair value of derivative instruments designated as cash flow hedges during the period, Before-Tax Amount | ' | 800 | 952 | -1,882 |
Less: reclassification adjustment for gains/losses included in net income, Before-Tax Amount | ' | 409 | 392 | 1,195 |
Fair value of derivative instruments designated as cash flow hedges, Before-Tax Amount | ' | 1,209 | 1,344 | -687 |
Total other comprehensive income/loss, Before-Tax Amount | 5,531 | 7,267 | -39,684 | 3,806 |
Unrealized holding gains/losses arising during the period, Tax (Expense) Benefit | -1,935 | -2,135 | 13,569 | -2,883 |
Less: reclassification adjustment for gains/losses included in net income, Tax (Expense) Benefit | -1 | 14 | 791 | 1,310 |
Net unrealized gains/losses, Tax (Expense) Benefit | -1,936 | -2,121 | 14,360 | -1,573 |
Change in fair value of derivative instruments designated as cash flow hedges during the period, Tax (Expense) Benefit | ' | -280 | -333 | 659 |
Less: reclassification adjustment for gains/losses included in net income, Tax Expense (Benefit) | ' | -142 | -137 | -418 |
Fair value of derivative instruments designated as cash flow hedges, Tax (Expense) Benefit | ' | -422 | -470 | 241 |
Total other comprehensive income/loss, Tax Expense (Benefit) | -1,936 | -2,543 | 13,890 | -1,332 |
Unrealized holding gains/losses arising during the period, Net-of-Tax Amount | 3,593 | 3,964 | -25,200 | 5,353 |
Less: reclassification adjustment for losses/gains included in net income, Net-of-Tax Amount | 2 | -27 | -1,468 | -2,433 |
Net unrealized gains/losses, Net-of-Tax Amount | 3,595 | 3,937 | -26,668 | 2,920 |
Change in fair value of derivative instruments designated as cash flow hedges during the period, Net-of-Tax Amount | ' | 520 | 619 | -1,223 |
Less: reclassification adjustment for gains/losses included in net income, Net-of-Tax Amount | ' | 267 | 255 | 777 |
Fair value of derivative instruments designated as cash flow hedges, Net-of-Tax Amount | ' | 787 | 874 | -446 |
Total other comprehensive income/loss, Net-of-Tax Amount | $3,595 | $4,724 | ($25,794) | $2,474 |
ShareBased_Compensation_Additi
Share-Based Compensation - Additional Information (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based compensation maximum option term (in years) | '10 years | ' |
Future awards shares under approved incentive compensation plans | 491,346 | ' |
Minimum vesting period (in years) | '1 year 6 months | ' |
Maximum vesting period (in years) | '7 years | ' |
Excess tax benefits as financing cash inflows | $495,000 | $940,000 |
Net cash proceeds from exercise of stock options | 5,441,000 | 1,541,000 |
Aggregate intrinsic value of shares underlying outstanding stock options | 2,090,000 | ' |
Aggregate intrinsic value of shares underlying exercisable stock options | 1,951,000 | ' |
Total intrinsic value of options exercised | 1,920,000 | 1,046,000 |
Maximum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Unearned compensation vesting period (in years) | 7 | ' |
Minimum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Unearned compensation vesting period (in years) | 3 | ' |
Phantom Stock Awards [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Minimum vesting period (in years) | '5 years | ' |
Maximum vesting period (in years) | '7 years | ' |
Employee Stock Option [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Unearned share-based compensation associated with awards | 4,485,000 | ' |
Unrecognized compensation cost related to stock options expected to be recognized over a weighted-average period | '4 years 8 months 12 days | ' |
Restricted Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Unearned share-based compensation associated with awards | $23,253,000 | ' |
ShareBased_Compensation_Compen
Share-Based Compensation - Compensation Expense Included in Salaries and Employee Benefits Expense and Related Income Tax Benefits (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' | ' |
Compensation expense related to stock options | $526 | $334 | $1,592 | $1,317 |
Income tax benefit related to stock options | $184 | $117 | $557 | $461 |
Impact on basic earnings per share | $0.01 | $0.01 | $0.03 | $0.03 |
Impact on diluted earnings per share | $0.01 | $0.01 | $0.03 | $0.03 |
ShareBased_Compensation_Estima
Share-Based Compensation - Estimate Fair Value of Share-Based Awards with Weighted-Average Assumptions (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology [Abstract] | ' | ' |
Expected dividends | 2.60% | 2.30% |
Expected volatility | 34.80% | 33.90% |
Risk-free interest rate | 1.70% | 2.90% |
Expected term (in years) | '8 years 7 months 6 days | '5 years 9 months 18 days |
Weighted-average grant-date fair value | $15.37 | $13.58 |
ShareBased_Compensation_Activi
Share-Based Compensation - Activity Related to Stock Options (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Share Based Compensation Arrangement By Share Based Payment Award Options Additional Disclosures [Abstract] | ' | ' |
Number of shares, Outstanding options, Beginning balance | 1,236,075 | 1,097,620 |
Number of shares, Outstanding options, Granted | 75,722 | 226,764 |
Number of shares, Issued in connection with acquisition | ' | 32,863 |
Number of shares, Outstanding options, Exercised | -142,841 | -46,729 |
Number of shares, Outstanding options, Forfeited or expired | -36,608 | -29,410 |
Number of shares, Outstanding options, Ending balance | 1,132,348 | 1,281,108 |
Number of shares, Exercisable options | 749,545 | 822,410 |
Weighted average exercise price, Outstanding options, Beginning balance | $51.48 | $50.14 |
Weighted average exercise price, Outstanding options, Granted | $52.36 | $51.73 |
Weighted average exercise price, Issued in connection with acquisition | ' | $41.30 |
Weighted average exercise price, Outstanding options, Exercised | $38.09 | $29.42 |
Weighted average exercise price, Outstanding options, Forfeited or expired | $56.01 | $57.39 |
Weighted average exercise price, Outstanding options, Ending balance | $53.09 | $50.78 |
Weighted average exercise price, Exercisable options | $52.94 | $48.94 |
Weighted average remaining contract life, Outstanding options, Ending period | '4 years 8 months 12 days | '4 years 9 months 18 days |
Weighted average remaining contract life, Outstanding exercisable, Ending period | '3 years 2 months 12 days | ' |
Weighted average remaining contract life, Exercisable options | ' | '3 years |
ShareBased_Compensation_Compen1
Share-Based Compensation - Compensation Expense Included in Salaries and Employee Benefits Expense Related to Restricted Stock Grants (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' | ' |
Compensation expense related to restricted stock/phantom stock | $2,110 | $1,973 | $6,055 | $5,638 |
ShareBased_Compensation_Unvest
Share-Based Compensation - Unvested Restricted Stock Award Activity (Detail) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Balance at beginning of period | 538,202 | 512,112 |
Granted | 166,223 | 174,393 |
Forfeited | -27,483 | -8,736 |
Earned and issued | -136,629 | -120,644 |
Balance at end of period | 540,313 | 557,125 |
ShareBased_Compensation_Compen2
Share-Based Compensation - Compensation Expense of Phantom Stock (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Compensation expense related to restricted stock/phantom stock | $2,110 | $1,973 | $6,055 | $5,638 |
Phantom Stock Awards [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Compensation expense related to restricted stock/phantom stock | $792 | $245 | $2,602 | $1,426 |
ShareBased_Compensation_Schedu
Share-Based Compensation - Schedule of Share and Dividend Equivalent Share Award Activity (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Number of share equivalents, Beginning Balance | 318,729 | 232,921 |
Number of share equivalents, Granted | 166,664 | 117,506 |
Number of share equivalents, Forfeited share equivalents | -16,381 | -8,052 |
Number of share equivalents, Vested share equivalents | -45,065 | -16,735 |
Number of share equivalents, Ending Balance | 423,947 | 325,640 |
Dividend equivalents, Beginning Balance | 16,035 | 8,942 |
Dividend equivalents, Granted | 8,793 | 6,852 |
Dividend equivalents, Forfeited share equivalents | -681 | -242 |
Dividend equivalents, Vested share equivalents | -3,327 | -1,144 |
Dividend equivalents, Ending Balance | 20,820 | 14,408 |
Dividend equivalents, Beginning Balance | 334,764 | 241,863 |
Dividend equivalents, Granted | 175,457 | 124,358 |
Dividend equivalents, Forfeited share equivalents | -17,062 | -8,294 |
Dividend equivalents, Vested share equivalents | -48,392 | -17,879 |
Dividend equivalents, Ending Balance | 444,767 | 340,048 |
Value of share equivalents, Beginning Balance | $16,444,000 | $11,924,000 |
Value of share equivalents, Granted | 9,108,000 | 5,696,000 |
Value of share equivalents, Forfeited share equivalents | -886,000 | -380,000 |
Value of share equivalents, Vested share equivalents | -2,453,000 | -894,000 |
Value of share equivalents, Ending Balance | $23,088,000 | $15,574,000 |
ShareBased_Compensation_Schedu1
Share-Based Compensation - Schedule of Share and Dividend Equivalent Share Award Activity (Parenthetical) (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Market price of Company's stock | $51.91 | $45.80 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | Sep. 30, 2013 |
Commitments Contingencies And Guarantees [Line Items] | ' |
Fair value of guarantees under commercial and standby letters of credit | $1,067,000 |
Minimum [Member] | ' |
Commitments Contingencies And Guarantees [Line Items] | ' |
Estimated losses associated with legal proceedings | 500,000 |
Maximum [Member] | ' |
Commitments Contingencies And Guarantees [Line Items] | ' |
Estimated losses associated with legal proceedings | $2,200,000 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Summary of Financial Instruments Outstanding (Detail) (Credit Risk Contract [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Credit Risk Contract [Member] | ' | ' |
Commitments Contingencies And Guarantees [Line Items] | ' | ' |
Commitments to grant loans | $342,494 | $192,295 |
Unfunded commitments under lines of credit | 2,972,046 | 2,372,971 |
Commercial and standby letters of credit | 106,652 | 62,207 |
Reserve for unfunded lending commitments | $11,959 | ' |
Fair_Value_Measurements_Financ
Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale securities, Assets | $1,964,389 | $1,745,004 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale securities, Assets | 1,964,389 | 1,745,004 |
Derivative instruments, Assets | 32,469 | 42,119 |
Total, Assets | 1,996,858 | 1,787,123 |
Derivative instruments, Liabilities | 31,521 | 36,890 |
Total, Liabilities | 31,521 | 36,890 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale securities, Assets | 15,220 | ' |
Derivative instruments, Assets | ' | ' |
Total, Assets | 15,220 | ' |
Derivative instruments, Liabilities | ' | ' |
Total, Liabilities | ' | ' |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale securities, Assets | 1,949,169 | 1,745,004 |
Derivative instruments, Assets | 32,469 | 42,119 |
Total, Assets | 1,981,638 | 1,787,123 |
Derivative instruments, Liabilities | 31,521 | 36,890 |
Total, Liabilities | 31,521 | 36,890 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale securities, Assets | ' | ' |
Derivative instruments, Assets | ' | ' |
Total, Assets | ' | ' |
Derivative instruments, Liabilities | ' | ' |
Total, Liabilities | ' | ' |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Fair Value Disclosures [Abstract] | ' | ' |
Fair value assets additions to Level 1 purchases | $15,220,000 | ' |
Impaired non-covered loans with an outstanding balance | 3,024,000 | 7,269,000 |
Reserve in allowance for credit losses | 1,092,000 | 880,000 |
Asset impairment loss | 4,941,000 | ' |
Book value of company owned branches after impairment loss | $0 | ' |
Fair_Value_Measurements_Gains_
Fair Value Measurements - Gains and Losses Included in Earnings Related to Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Noninterest Income [Member] | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Total gains (losses) included in earnings (or changes in net assets) | ($1,056) |
Change in unrealized gains (losses) relating to assets still held at September 30, 2013 | ' |
Other Comprehensive Income [Member] | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Total gains (losses) included in earnings (or changes in net assets) | ' |
Change in unrealized gains (losses) relating to assets still held at September 30, 2013 | ($25,794) |
Fair_Value_Measurements_Financ1
Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Detail) (Fair Value, Measurements, Nonrecurring [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value Measurements [Line Items] | ' | ' |
Loans, Assets | $1,932 | $6,388 |
Mortgage loans held for sale, Assets | 3,213 | 32,753 |
OREO, Assets | 20,427 | 20,427 |
Total, Assets | 25,572 | 59,568 |
Level 1 [Member] | ' | ' |
Fair Value Measurements [Line Items] | ' | ' |
Loans, Assets | ' | ' |
Mortgage loans held for sale, Assets | ' | ' |
OREO, Assets | ' | ' |
Total, Assets | ' | ' |
Level 2 [Member] | ' | ' |
Fair Value Measurements [Line Items] | ' | ' |
Loans, Assets | 1,932 | 6,388 |
Mortgage loans held for sale, Assets | 3,213 | 32,753 |
OREO, Assets | 20,427 | 20,427 |
Total, Assets | 25,572 | 59,568 |
Level 3 [Member] | ' | ' |
Fair Value Measurements [Line Items] | ' | ' |
Loans, Assets | ' | ' |
Mortgage loans held for sale, Assets | ' | ' |
OREO, Assets | ' | ' |
Total, Assets | ' | ' |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Fair Value Disclosures [Abstract] | ' |
Short-term borrowings maturity period | '90 days |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Estimated Fair Values and Carrying Amounts of Financial Instruments (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial Assets | ' | ' |
Cash and cash equivalents | $553,448 | $970,977 |
FDIC loss share receivable | 204,885 | 423,069 |
Financial Liabilities | ' | ' |
Deposits | 10,950,764 | 10,748,277 |
Short-term borrowings | 258,850 | 303,045 |
Long-term debt | 281,101 | 423,377 |
Carrying Amount [Member] | ' | ' |
Financial Assets | ' | ' |
Cash and cash equivalents | 553,447 | 970,977 |
Investment securities | 2,120,067 | 1,950,066 |
Loans and loans held for sale | 9,151,322 | 8,766,054 |
FDIC loss share receivable | 204,885 | 423,069 |
Derivative instruments | 32,469 | 42,119 |
Accrued interest receivable | 31,296 | 32,183 |
Financial Liabilities | ' | ' |
Deposits | 10,950,764 | 10,748,277 |
Short-term borrowings | 258,850 | 303,045 |
Long-term debt | 281,101 | 423,377 |
Derivative instruments | 31,521 | 36,890 |
Accrued interest payable | 6,026 | 6,615 |
Fair Value [Member] | ' | ' |
Financial Assets | ' | ' |
Cash and cash equivalents | 553,447 | 970,977 |
Investment securities | 2,119,699 | 1,956,502 |
Loans and loans held for sale | 9,257,560 | 8,800,563 |
FDIC loss share receivable | 59,512 | 207,222 |
Derivative instruments | 32,469 | 42,119 |
Accrued interest receivable | 31,296 | 32,183 |
Financial Liabilities | ' | ' |
Deposits | 10,533,414 | 10,594,885 |
Short-term borrowings | 258,850 | 303,045 |
Long-term debt | 239,506 | 394,490 |
Derivative instruments | 31,521 | 36,890 |
Accrued interest payable | $6,026 | $6,615 |