Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 21, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'IBERIABANK CORP | ' | ' |
Entity Central Index Key | '0000933141 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 29,922,661 | ' |
Entity Public Float | ' | ' | $1,500,000,000 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $238,672 | $248,214 |
Interest-bearing deposits in banks | 152,724 | 722,763 |
Total cash and cash equivalents | 391,396 | 970,977 |
Securities available for sale, at fair value | 1,936,797 | 1,745,004 |
Securities held to maturity, fair values of $152,566 and $211,498, respectively | 154,109 | 205,062 |
Mortgage loans held for sale ($97,273 and $0 recorded at fair value) | 128,442 | 267,475 |
Loans covered by loss share agreements | 719,793 | 1,092,756 |
Non-covered loans, net of unearned income | 8,772,226 | 7,405,824 |
Total loans, net of unearned income | 9,492,019 | 8,498,580 |
Allowance for credit losses | -143,074 | -251,603 |
Loans, net | 9,348,945 | 8,246,977 |
FDIC loss share receivables | 162,312 | 423,069 |
Premises and equipment, net | 287,510 | 303,523 |
Goodwill | 401,872 | 401,872 |
Other assets | 554,167 | 565,719 |
Total Assets | 13,365,550 | 13,129,678 |
Liabilities | ' | ' |
Non-interest-bearing | 2,575,939 | 1,967,662 |
Interest-bearing | 8,161,061 | 8,780,615 |
Total deposits | 10,737,000 | 10,748,277 |
Short-term borrowings | 680,344 | 303,045 |
Long-term debt | 280,699 | 423,377 |
Other liabilities | 136,528 | 125,111 |
Total Liabilities | 11,834,571 | 11,599,810 |
Shareholders' Equity | ' | ' |
Preferred stock, $1 par value - 5,000,000 shares authorized | ' | ' |
Common stock, $1 par value - 50,000,000 shares authorized; 31,917,385 shares issued | 31,917 | 31,917 |
Additional paid-in capital | 1,178,284 | 1,176,180 |
Retained earnings | 436,141 | 411,472 |
Accumulated other comprehensive income (loss) | -16,491 | 24,477 |
Treasury stock at cost - 2,130,841 and 2,427,640 shares, respectively | -98,872 | -114,178 |
Total Shareholders' Equity | 1,530,979 | 1,529,868 |
Total Liabilities and Shareholders' Equity | $13,365,550 | $13,129,678 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Securities held to maturity, fair values | $152,566 | $211,498 |
Mortgage loans held for sale recorded at fair value | $97,273 | $0 |
Preferred stock, par value | $1 | $1 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
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 | 2,130,841 | 2,427,640 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest and Dividend Income | ' | ' | ' |
Loans, including fees | $488,936 | $513,936 | $436,172 |
Mortgage loans held for sale, including fees | 5,108 | 5,318 | 3,479 |
Investment securities: | ' | ' | ' |
Taxable interest | 31,562 | 33,890 | 44,760 |
Tax-exempt interest | 6,668 | 7,375 | 5,956 |
Amortization of FDIC loss share receivable | -97,849 | -118,100 | -72,086 |
Other | 2,772 | 2,781 | 2,046 |
Total interest and dividend income | 437,197 | 445,200 | 420,327 |
Interest Expense | ' | ' | ' |
NOW and MMDA | 18,933 | 23,936 | 28,914 |
Savings | 309 | 573 | 656 |
Time deposits | 16,604 | 24,855 | 40,984 |
Short-term borrowings | 490 | 650 | 577 |
Long-term debt | 10,617 | 13,436 | 10,938 |
Total interest expense | 46,953 | 63,450 | 82,069 |
Net interest income | 390,244 | 381,750 | 338,258 |
Provision for loan losses | 5,145 | 20,671 | 25,867 |
Net interest income after provision for loan losses | 385,099 | 361,079 | 312,391 |
Non-interest Income | ' | ' | ' |
Service charges on deposit accounts | 28,871 | 26,852 | 25,915 |
Mortgage income | 64,197 | 78,053 | 45,177 |
Title revenue | 20,526 | 20,987 | 18,048 |
ATM/debit card fee income | 9,510 | 8,978 | 11,008 |
Income from bank owned life insurance | 3,647 | 3,680 | 3,296 |
Gain on sale of assets | 251 | 42 | 943 |
Gain on sale of available for sale investments | 2,277 | 3,739 | 3,422 |
Derivative losses reclassified from other comprehensive income | -391 | -1,618 | -1,723 |
Broker commissions | 16,333 | 13,446 | 10,224 |
Other income | 23,737 | 21,838 | 15,549 |
Total Non-interest income | 168,958 | 175,997 | 131,859 |
Non-interest Expense | ' | ' | ' |
Salaries and employee benefits | 244,981 | 233,777 | 193,773 |
Net occupancy and equipment | 58,037 | 54,672 | 49,600 |
Impairment of FDIC loss share receivables and other long-lived assets | 37,893 | 2,902 | ' |
Franchise and shares tax | 3,757 | 3,809 | 4,243 |
Communication and delivery | 12,024 | 12,671 | 11,510 |
Marketing and business development | 10,143 | 12,546 | 9,754 |
Data processing | 17,853 | 15,590 | 14,531 |
Printing, stationery and supplies | 2,555 | 3,298 | 3,298 |
Amortization of acquisition intangibles | 4,720 | 5,150 | 5,121 |
Professional services | 18,217 | 21,095 | 15,085 |
Costs of OREO property, net | 1,943 | 6,352 | 10,029 |
Credit and other loan related expense | 15,931 | 18,095 | 15,348 |
Insurance | 11,272 | 10,771 | 10,022 |
Travel and entertainment | 8,126 | 9,563 | 7,615 |
Other expenses | 25,633 | 21,894 | 23,802 |
Total Non-interest expense | 473,085 | 432,185 | 373,731 |
Income (loss) before income taxes expenses | 80,972 | 104,891 | 70,519 |
Income tax expense | 15,869 | 28,496 | 16,981 |
Net Income | 65,103 | 76,395 | 53,538 |
Income Available to Common Shareholders - Basic | 65,103 | 76,395 | 53,538 |
Earnings Allocated to Unvested Restricted Stock | -1,209 | -1,437 | -967 |
Earnings Available to Common Shareholders - Diluted | 63,894 | 74,958 | 52,571 |
Earnings per common share - basic | $2.20 | $2.59 | $1.88 |
Earnings per common share - Diluted | $2.20 | $2.59 | $1.87 |
Cash dividends declared per common share | $1.36 | $1.36 | $1.36 |
Unrealized gains on securities: | ' | ' | ' |
Unrealized holding (losses) gains arising during the period | -62,095 | 2,174 | 36,328 |
Other than temporary impairment realized in net income | ' | ' | -509 |
Less: reclassification adjustment for gains included in net income | -2,277 | -3,739 | -3,422 |
Unrealized (loss) gain on securities, before tax | -64,372 | -1,565 | 32,397 |
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 | 953 | -22 | -19,078 |
Less: reclassification adjustment for losses included in net income | 391 | 1,618 | 1,723 |
Fair value of derivative instruments designated as cash flow hedges, before tax | 1,344 | 1,596 | -17,355 |
Other comprehensive (loss) income, before tax | -63,028 | 31 | 15,042 |
Income tax (benefit) expense related to items of other comprehensive (loss) income | -22,060 | 11 | 5,265 |
Other comprehensive (loss) income, net of tax | -40,968 | 20 | 9,777 |
Comprehensive income | $24,135 | $76,415 | $63,315 |
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, 2010 | $1,303,457 | $28,080 | $956,864 | $361,055 | $14,680 | ($57,222) |
Beginning balance, shares at Dec. 31, 2010 | ' | 28,079,841 | ' | ' | ' | 1,205,228 |
Net income | 53,538 | ' | ' | 53,538 | ' | ' |
Other comprehensive income (loss) | 9,777 | ' | ' | ' | 9,777 | ' |
Cash dividends declared, $1.36 per share | -39,409 | ' | ' | -39,409 | ' | ' |
Reissuance of treasury stock under incentive plans, net of shares surrendered in payment, including tax benefit | 6,430 | ' | -2,596 | ' | ' | 9,026 |
Reissuance of treasury stock under incentive plans, shares | ' | ' | ' | ' | ' | -316,063 |
Common stock issued for acquisitions | 181,140 | 3,083 | 178,057 | ' | ' | ' |
Common stock issued for acquisitions, shares | ' | 3,083,229 | ' | ' | ' | ' |
Common stock issued for recognition and retention plans | ' | ' | -5,559 | ' | ' | 5,559 |
Share-based compensation cost | 9,114 | ' | 9,114 | ' | ' | ' |
Treasury stock acquired at cost | -41,386 | ' | ' | ' | ' | -41,386 |
Treasury stock acquired at cost, Shares | ' | ' | ' | ' | ' | 900,000 |
Ending balance at Dec. 31, 2011 | 1,482,661 | 31,163 | 1,135,880 | 375,184 | 24,457 | -84,023 |
Ending balance, shares at Dec. 31, 2011 | ' | 31,163,070 | ' | ' | ' | 1,789,165 |
Net income | 76,395 | ' | ' | 76,395 | ' | ' |
Other comprehensive income (loss) | 20 | ' | ' | ' | 20 | ' |
Cash dividends declared, $1.36 per share | -40,107 | ' | ' | -40,107 | ' | ' |
Reissuance of treasury stock under incentive plans, net of shares surrendered in payment, including tax benefit | 2,222 | ' | -354 | ' | ' | 2,576 |
Reissuance of treasury stock under incentive plans, shares | ' | ' | ' | ' | ' | -214,833 |
Common stock issued for acquisitions | 39,203 | 754 | 38,449 | ' | ' | ' |
Common stock issued for acquisitions, shares | ' | 754,315 | ' | ' | ' | ' |
Common stock issued for recognition and retention plans | ' | ' | -7,702 | ' | ' | 7,702 |
Share-based compensation cost | 9,907 | ' | 9,907 | ' | ' | ' |
Treasury stock acquired at cost | -40,433 | ' | ' | ' | ' | -40,433 |
Treasury stock acquired at cost, Shares | ' | ' | ' | ' | ' | 853,308 |
Ending balance at Dec. 31, 2012 | 1,529,868 | 31,917 | 1,176,180 | 411,472 | 24,477 | -114,178 |
Ending balance, shares at Dec. 31, 2012 | ' | 31,917,385 | ' | ' | ' | 2,427,640 |
Net income | 65,103 | ' | ' | 65,103 | ' | ' |
Other comprehensive income (loss) | -40,968 | ' | ' | ' | -40,968 | ' |
Cash dividends declared, $1.36 per share | -40,434 | ' | ' | -40,434 | ' | ' |
Reissuance of treasury stock under incentive plans, net of shares surrendered in payment, including tax benefit | 6,707 | ' | -607 | ' | ' | 7,314 |
Reissuance of treasury stock under incentive plans, shares | ' | ' | ' | ' | ' | -296,799 |
Common stock issued for recognition and retention plans | ' | ' | -7,992 | ' | ' | 7,992 |
Share-based compensation cost | 10,703 | ' | 10,703 | ' | ' | ' |
Ending balance at Dec. 31, 2013 | $1,530,979 | $31,917 | $1,178,284 | $436,141 | ($16,491) | ($98,872) |
Ending balance, shares at Dec. 31, 2013 | ' | 31,917,385 | ' | ' | ' | 2,130,841 |
Consolidated_Statements_of_Sha1
Consolidated Statements of Shareholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Cash dividends declared per share | $1.36 | $1.36 | $1.36 |
Retained Earnings [Member] | ' | ' | ' |
Cash dividends declared per share | $1.36 | $1.36 | $1.36 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Cash Flows from Operating Activities | ' | ' | ' |
Net income | $65,103,000 | $76,395,000 | $53,538,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 25,388,000 | 21,685,000 | 16,772,000 |
Amortization of purchase accounting adjustments, net | -5,965,000 | -47,383,000 | -30,653,000 |
Provision for loan losses | 5,145,000 | 20,671,000 | 25,867,000 |
Share-based equity compensation expense | 10,703,000 | 9,907,000 | 9,114,000 |
Gain on sale of assets | -251,000 | -42,000 | -943,000 |
Gain on sale of available for sale investments | -2,277,000 | -3,739,000 | -3,422,000 |
Gain on sale of OREO | -6,022,000 | -4,985,000 | -1,476,000 |
Loss on abandonment of fixed assets | 4,941,000 | 2,743,000 | ' |
Loss on impaired securities | ' | ' | 509,000 |
Impairment | 31,813,000 | ' | ' |
Amortization of premium/discount on investments | 18,953,000 | 21,013,000 | 18,233,000 |
Derivative (gains) losses on swaps | -209,000 | 1,000 | 2,000 |
Benefit for deferred income taxes | -35,943,000 | -7,527,000 | -11,750,000 |
Originations of mortgage loans held for sale | -2,116,460,000 | -2,432,367,000 | -1,659,226,000 |
Proceeds from sales of mortgage loans held for sale | 2,320,885,000 | 2,388,716,000 | 1,637,458,000 |
Gain on sale of mortgage loans held for sale, net | -65,393,000 | -70,811,000 | -43,955,000 |
Tax benefit associated with share-based payment arrangements | -886,000 | -1,221,000 | -1,454,000 |
(Increase) decrease in other assets | -17,534,000 | 7,437,000 | 5,572,000 |
Other operating activities, net | 77,792,000 | 7,319,000 | 1,572,000 |
Net Cash Provided by (Used in) Operating Activities | 309,783,000 | -12,188,000 | 15,758,000 |
Cash Flows from Investing Activities | ' | ' | ' |
Proceeds from sales of securities available for sale | 44,677,000 | 154,222,000 | 130,305,000 |
Proceeds from maturities, prepayments and calls of securities available for sale | 709,977,000 | 880,425,000 | 626,004,000 |
Purchases of securities available for sale | -1,026,290,000 | -935,164,000 | -499,899,000 |
Proceeds from maturities, prepayments and calls of securities held to maturity | 55,706,000 | 43,535,000 | 120,075,000 |
Purchases of securities held to maturity | -5,901,000 | -57,075,000 | -22,803,000 |
FDIC reimbursement of recoverable covered asset losses | 68,233,000 | 157,694,000 | 139,852,000 |
Increase in loans receivable, net | -1,030,545,000 | -870,577,000 | -560,635,000 |
Proceeds from sale of premises and equipment | 8,714,000 | 1,274,000 | 3,227,000 |
Purchases of premises and equipment | -16,941,000 | -32,825,000 | -44,055,000 |
Proceeds from disposition of real estate owned | 116,612,000 | 109,067,000 | 61,713,000 |
Investment in new market tax credit entities | -2,213,000 | -21,368,000 | -9,425,000 |
Cash received in excess of cash paid for acquisition | ' | 32,425,000 | 79,288,000 |
Other investing activities, net | -2,636,000 | 10,691,000 | 2,085,000 |
Net Cash (Used in) Provided by Investing Activities | -1,080,607,000 | -527,676,000 | 25,732,000 |
Cash Flows from Financing Activities | ' | ' | ' |
(Decrease) increase in deposits, net of deposits acquired | -10,689,000 | 1,174,829,000 | 174,809,000 |
Net change in short-term borrowings, net of borrowings acquired | 377,299,000 | -102,320,000 | 136,786,000 |
Proceeds from long-term debt | 2,867,000 | 24,086,000 | 3,176,000 |
Repayments of long-term debt | -144,609,000 | -80,770,000 | -47,227,000 |
Dividends paid to shareholders | -40,332,000 | -40,069,000 | -38,558,000 |
Proceeds from sale of treasury stock for stock options exercised | 8,101,000 | 2,813,000 | 6,807,000 |
Payments to repurchase common stock | -2,280,000 | -42,245,000 | -43,219,000 |
Tax benefit associated with share-based payment arrangements | 886,000 | 1,221,000 | 1,454,000 |
Net Cash Provided by Financing Activities | 191,243,000 | 937,545,000 | 194,028,000 |
Net (Decrease) Increase In Cash and Cash Equivalents | -579,581,000 | 397,681,000 | 235,518,000 |
Cash and Cash Equivalents at Beginning of Period | 970,977,000 | 573,296,000 | 337,778,000 |
Cash and Cash Equivalents at End of Period | 391,396,000 | 970,977,000 | 573,296,000 |
Supplemental Schedule of Noncash Activities | ' | ' | ' |
Acquisition of real estate in settlement of loans | 93,040,000 | 99,134,000 | 104,855,000 |
Common stock issued in acquisition | ' | 39,203,000 | 181,140,000 |
Transfers of property into Other Real Estate | 93,040,000 | 106,427,000 | 104,855,000 |
Exercise of stock options with payment in company stock | ' | 16,000 | ' |
Supplemental Disclosures Cash paid for: | ' | ' | ' |
Interest on deposits and borrowings | 47,466,000 | 63,984,000 | 84,452,000 |
Income taxes, net | $29,063,000 | $15,957,000 | $41,594,000 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Summary of Significant Accounting Policies | ' | |||
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||
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, L.L.C. (“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. Refer to Note 5 for the Company’s credit risks in its investment securities portfolio. | ||||
CASH AND CASH EQUIVALENTS | ||||
For purposes of presentation in the consolidated statements of cash flows, cash and cash equivalents are defined as cash, interest-bearing deposits and non-interest-bearing demand deposits at other financial institutions with original maturities less than three months. IBERIABANK may be required to maintain average balances on hand or with the Federal Reserve Bank to meet regulatory reserve and clearing requirements. At December 31, 2013 and 2012, the required reserve balances were $6,709,000 and $2,555,000, respectively. IBERIABANK had enough cash deposited with the Federal Reserve at December 31, 2013 and 2012 to cover the required reserve balance. | ||||
INVESTMENT SECURITIES | ||||
Debt securities that management has the ability and intent to hold to maturity are classified as held to maturity and carried at cost, adjusted for amortization of premiums and accretion of discounts using methods approximating the interest method. Securities not classified as held to maturity or trading, including equity securities with readily determinable fair values, are classified as available for sale and recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income. Declines in the value of individual held to maturity and available for sale securities below their cost that are other than temporary are included in earnings as realized losses. In estimating other than temporary impairment losses, management considers 1) the length of time and the extent to which the fair value has been less than cost, 2) the financial condition and near-term prospects of the issuer, 3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value, and 4) for debt securities, the recovery of contractual principal and interest. Gains or losses on securities sold are recorded on the trade date, using the specific identification method. | ||||
LOANS HELD FOR SALE | ||||
Loans held for sale primarily consist of fixed rate single-family residential mortgage loans originated and under contract to be sold in the secondary market. The Company has elected the fair value option for the majority of mortgage loans held for sale (See Note 23). Any other loans held for sale are carried at the lower of cost or estimated fair value. For mortgage loans for which the Company has elected the fair value option, gains and losses are included in mortgage income. For any other loans held for sale, net unrealized losses, if any, are recognized through a valuation allowance that is recorded as a charge to income. See Note 24 for further discussion of the determination of fair value for loans held for sale. In most cases, loans in this category are sold within thirty days and are generally sold with the mortgage servicing rights released. Buyers generally have recourse to return a purchased loan to the Company under limited circumstances. Recourse conditions may include early payment default, breach of representations or warranties, and documentation deficiencies. During 2013 and 2012, an insignificant number of loans were returned to the Company. | ||||
LOANS (EXCLUDING ACQUIRED LOANS) | ||||
The Company grants mortgage, commercial and consumer loans to customers. Except for loans acquired, loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at the unpaid principal balances, less the allowance for credit losses and net deferred loan origination fees and unearned discounts. | ||||
Interest income on loans is accrued over the term of the loans based on the principal balance outstanding. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the related loan yield, using the effective interest method. | ||||
The accrual of interest on loans is discontinued at the time the loan is 90 days delinquent unless the credit is well-secured and in process of collection. Mortgage, credit card and other personal loans are typically charged down to net collateral value, less cost to sell, no later than 180 days past due. Past due status is based on the contractual terms of loans. In all cases, loans are placed on nonaccrual status or charged off at an earlier date if collection of principal or interest is considered doubtful. | ||||
The Company’s covered loan portfolio and non-covered loan portfolio, which is delineated between a) non-covered loans, excluding acquired loans and b) acquired loans, are disaggregated into portfolio segments for purposes of determining the allowance for credit losses. The Company’s portfolio segments include commercial real estate, commercial business, mortgage, and consumer. The Company further disaggregates each commercial real estate, mortgage, and consumer portfolio segment into classes for purposes of monitoring and assessing credit quality based on certain risk characteristics. Classes within each commercial real estate portfolio segment include commercial real estate construction, commercial land, owner-occupied commercial, and commercial real estate – other. Classes within each mortgage portfolio segment include mortgage – prime and mortgage – subprime, as well as junior and senior lien mortgages. Classes within each consumer portfolio segment include indirect auto, credit card, home equity, and consumer – other. Each commercial business portfolio segment, including loans to the energy industry, is also considered a class. | ||||
Credit Quality | ||||
The Company utilizes an asset risk classification system in accordance with guidelines established by the Federal Reserve Board as part of its efforts to monitor commercial asset quality. “Special mention” loans are defined as loans where known information about possible credit problems of the borrower cause management to have some doubt as to the ability of these borrowers to comply with the present loan repayment terms and which may result in future disclosure of these loans as nonperforming. For assets with identified credit issues, the Company has two primary classifications for problem assets: “substandard” and “doubtful.” Substandard assets have one or more defined weaknesses and are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful assets have the weaknesses of substandard assets with the additional characteristic that the weaknesses make collection or liquidation in full satisfaction of the loan balance outstanding questionable, which makes probability of loss based on currently existing facts, conditions and values higher. Loans classified as “Pass” do not meet the criteria set forth for special mention, substandard, or doubtful classification and are not considered criticized. Asset risk classifications are periodically reviewed and changed if, in the opinion of management, the risk profile of the customer has changed since the last review of the loan relationship. | ||||
A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Impairment losses are measured on a loan by loan basis for commercial and certain consumer loans based on either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. | ||||
In general, all interest accrued but not collected for loans that are placed on nonaccrual status or charged off is reversed against interest income. The interest on these loans is accounted for on the cash-basis method or cost-recovery method, until the loans qualify for a return to accrual status. Loans are returned to accrual status when all principal and interest amounts contractually due are brought current and future payments are reasonably assured. | ||||
Troubled Debt Restructurings | ||||
During the course of its lending operations, the Company periodically grants concessions to its customers in an attempt to protect as much of its investment as possible and minimize risk of loss. These concessions may include restructuring the terms of a customer loan to alleviate the burden of the customer’s near-term cash requirements. In order to be considered a troubled debt restructuring (“TDR”), the Company must conclude that the restructuring constitutes a concession and the customer is experiencing financial difficulties. The Company defines a concession to the customer as a modification of existing terms for economic or legal reasons that it would otherwise not consider. The concession is either granted through an agreement with the customer or is imposed by a court or law. Concessions include modifying original loan terms to reduce or defer cash payments required as part of the loan agreement, including but not limited to: | ||||
• | a reduction of the stated interest rate for the remaining original life of the debt, | |||
• | extension of the maturity date or dates at a stated interest rate lower than the current market rate for new debt with similar risk characteristics, | |||
• | reduction of the face amount or maturity amount of the debt as stated in the agreement, or | |||
• | reduction of accrued interest receivable on the debt. | |||
In its determination of whether the customer is experiencing financial difficulties, the Company considers numerous indicators, including, but not limited to: | ||||
• | whether the customer is currently in default on its existing loan, or is in an economic position where it is probable the customer will be in default on its loan in the foreseeable future without a modification, | |||
• | whether the customer has declared or is in the process of declaring bankruptcy, | |||
• | whether there is substantial doubt about the customer’s ability to continue as a going concern, | |||
• | whether, based on its projections of the customer’s current capabilities, the Company believes the customer’s future cash flows will be insufficient to service the debt, including interest, in accordance with the contractual terms of the existing agreement for the foreseeable future, and | |||
• | whether, without modification, the customer cannot obtain sufficient funds from other sources at an effective interest rate equal to the current market rate for similar debt for a nontroubled debtor. | |||
If the Company concludes that both a concession has been granted and the concession was granted to a customer experiencing financial difficulties, the Company identifies the loan as a TDR. For purposes of the determination of an allowance for credit losses for TDRs, the Company considers a loss probable on the loan, which is reviewed for specific impairment in accordance with the Company’s allowance for loan loss methodology. If it is determined that losses are probable on such TDRs, either because of delinquency or other credit quality indicator, the Company establishes specific reserves for these loans. For additional information on the Company’s allowance for credit losses, see Note 7 to these consolidated financial statements. | ||||
ACQUIRED LOANS AND RELATED FDIC LOSS SHARE RECEIVABLE | ||||
The Company accounts for its acquisitions under the purchase method, where all identifiable assets acquired, including loans, are recorded at fair value. The fair value of the loans acquired incorporates assumptions regarding credit risk, and as a result credit discounts are included in the determination of fair value. Therefore, an allowance for credit losses is not recorded at the acquisition date. | ||||
Loans acquired are recorded at fair value in accordance with the fair value methodology consistent with the exit price concept and exclusive of the shared-loss agreements with the FDIC from certain of the Company’s acquisitions in 2010 and 2009. The fair value estimates associated with the loans include estimates related to discount rates, expected prepayments and the amount and timing of undiscounted expected principal, interest and other cash flows. At the time of acquisition, the Company estimates the fair value of the acquired loan portfolio by segregating the acquired portfolio into loan pools with similar characteristics, which include: | ||||
• | whether the loan is performing according to contractual terms at the time of acquisition, | |||
• | the loan type based on regulatory reporting guidelines, namely whether the loan was a mortgage, consumer, or commercial loan | |||
• | the nature of collateral, | |||
• | the interest rate type, whether fixed or variable rate, and | |||
• | the loan payment type, primarily whether the loan is amortizing or interest-only. | |||
From these pools, the Company uses certain loan information, including outstanding principal balance, estimated expected losses, weighted average maturity, weighted average term to re-price (if a variable rate loan), weighted average margin, and weighted average interest rate to estimate the expected cash flow for each loan pool. | ||||
Acquired loans are evaluated at acquisition and classified as purchase impaired or purchased non-impaired. Purchased impaired loans reflect credit deterioration since origination to the extent that it is probable at the time of acquisition that the Company will be unable to collect all contractually required payments. For purchased impaired loans, expected cash flows at the acquisition date in excess of the fair value of loans are recorded as interest income over the life of the loans using a level yield method if the timing and amount of future cash flows is reasonably estimable. | ||||
Subsequent to acquisition, the Company performs cash flow re-estimations at least quarterly for each purchased impaired loan and/or loan pool. Increases in estimated cash flows above those expected at acquisition are recognized on a prospective basis as interest income over the remaining life of the pool. Decreases in expected cash flows subsequent to acquisition result in recognition of a provision for credit loss. | ||||
Acquired loans are placed on nonaccrual status when the Company cannot reasonably estimate cash flows on a loan or loan pool. | ||||
Pursuant to an AICPA letter dated December 18, 2009, the AICPA summarized the SEC staff’s view regarding the accounting in subsequent periods for discount accretion associated with loan receivables acquired in a business combination or asset purchase. Regarding the accounting for such loan receivables that, in the absence of further standard setting, the AICPA understands the SEC staff would not object to an accounting policy based on contractual cash flows (ASC Topic 310-20 approach) or an accounting policy based on expected cash flows (ASC 310-30 approach). The Company believes analogizing to ASC Topic 310-30 is the more appropriate option to follow in accounting for the fair value discount. However, in cases where a loan is acquired at a premium or slight discount, the Company believes that the contractual yield approach outlined in ASC Topic 310-20 is the more appropriate approach to apply. | ||||
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. | ||||
ALLOWANCE FOR CREDIT LOSSES | ||||
The allowance for credit losses represents management’s best estimate of probable credit losses inherent in the loan portfolios and off-balance sheet lending commitments at the balance-sheet date. The allowance for credit losses is maintained at a level the Company considers appropriate and is based on quarterly assessments and evaluations of the collectability and historical loss experience, including both industry and Company specific considerations. While management uses the best information available to establish the allowance for credit losses, future adjustments may be necessary if economic conditions differ substantially from the assumptions used in determining the allowance or, if required by regulators, based upon information available to them at the time of their examinations, or if mandated by revisions to, new interpretations of, or issuance of new accounting standards. See Note 7 for an analysis of the Company’s allowance for credit losses by portfolio and portfolio segment, and credit quality information by class. The entire amount of the allowance for credit losses is available to absorb losses on any category or lending-related commitment for non-acquired loans. The allowance related to acquired loans represents management’s best estimate of cumulative impairment as described further in “Acquired Loans”. | ||||
The Company’s strategy for credit risk management includes a combination of conservative exposure limits, which are significantly below legal lending limits and conservative underwriting, documentation and collection standards. The strategy emphasizes geographic, industry, and customer diversification within the Company’s operating footprint, regular credit examinations, and regular management reviews of large credit exposures and loans experiencing credit quality deterioration. | ||||
In the current year, the Company changed its methodology for determining the allowance for credit losses on its non-acquired, non-covered loans. See Note 7 for a discussion of changes in the calculation of its allowance for credit losses. | ||||
Allowance for credit losses discussion below includes discussion specific to loans accounted for under the contractual yield method, referred to as “contractual loans”, and loans accounted for as acquired credit impaired loans. | ||||
Contractual Loans (Excluding Acquired Credit Impaired Loans) | ||||
Contractual loans represent loans accounted for under the contractual yield method. The Company’s contractual loans include loans originated by the Company and acquired loans that are not accounted for as acquired credit impaired loans, typically referred to as legacy loans. Credit losses on contractual loans are charged and recoveries are credited to the allowance for credit losses. Provisions for loan losses are based on the Company’s review of historical industry and Company specific loss experience, and factors that management determines should be considered in estimating probable credit losses. | ||||
Loans identified as impaired are subject to individual quarterly review for probable loss. The Company considers the current value of collateral, credit quality of any guarantees, the guarantor’s liquidity and willingness to cooperate, and other factors when evaluating whether an individual loan is impaired. Other factors may include the industry and geographic location of the borrower, size and financial condition of the borrower, cash flow and leverage of the borrower, and evaluation of the borrower’s management. When individual loans are impaired, allowances are estimated based on management’s assessment of the borrower’s ability to repay the loan given the availability of collateral and other sources of cash flow, including evaluation of available legal options. Allowances for individually impaired loans are estimated based on the present value of expected future cash flows discounted at the loan’s effective interest rate, fair value of the underlying collateral or readily observable secondary market values. Collectability of principal and interest is evaluated in assessing the need for a loss accrual. | ||||
The Company also estimates reserves for collective impairment that reflect an estimated measurement of losses related to loans not subject to individual review as of the balance sheet date. Such loans are grouped in homogenous pools or segments, which are consistent with the segments and classes described above. Embedded loss rates are derived from migration analyses, which track net charge-off experience sustained on loans according to their risk grade, and may be adjusted for Company-specific and/or industry factors. Loss rates are reviewed quarterly and adjusted as management deems necessary based on changing borrower and/or collateral conditions and actual collections and charge-off experience. | ||||
Based on observations made through a qualitative review, management may apply qualitative adjustments to the quantitatively determined loss estimates at a pool and/or portfolio segment level as deemed appropriate. Primary qualitative and environmental factors that may not be directly reflected in quantitative estimates include: | ||||
• | asset quality trends, | |||
• | changes in lending and risk management practices and procedures | |||
• | trends in the nature and volume of the loan portfolio, including the existence and effect of any portfolio concentrations | |||
• | changes in experience and depth of lending staff | |||
• | legal, regulatory and competitive environment | |||
• | national and regional economic trends | |||
• | data availability and applicability | |||
Changes in these factors are considered in determining the directional consistency of changes in the allowance for credit losses. The impact of these factors on the Company’s qualitative assessment of the allowance for credit losses can change from period to period based on management’s assessment of the extent to which these factors are already reflected in historic loss rates. The uncertainty inherent in the estimation process is also considered in evaluating the allowance for credit losses. | ||||
The process used for estimating the allowance for credit losses on the loan portfolio is generally consistent with the process used to estimate the reserve for off-balance sheet lending commitments. | ||||
Acquired Credit Impaired Loans | ||||
Acquired loans represent loans acquired by the Company, which are accounted for in accordance with ASC 310-30. Credit losses incurred subsequent to acquisition are charged to the allowance for credit losses. Recoveries are credited to the allowance for credit losses to the extent the losses were incurred subsequent to acquisition. Recoveries related to credit losses incurred prior to acquisition are reflected as prospective adjustments to yield, which are accreted to income over the remaining life of the associated pool of loans. Provisions for credit losses are based on the Company’s determination of the timing and amount of expected cash flows. Provisions for credit losses associated with loans covered by loss share agreements with the FDIC are partially offset by increases in the FDIC loss share receivable. | ||||
The allowance for credit losses related to acquired loans is based on management’s re-estimation of expected cash flows for each loan pool. An allowance for credit losses is established to the extent that the expected cash flows of a loan pool have decreased since acquisition. | ||||
OFF-BALANCE SHEET CREDIT RELATED FINANCIAL INSTRUMENTS | ||||
The Company accounts for its guarantees in accordance with the provisions of ASC Topic 460. In the ordinary course of business, the Company has entered into commitments to extend credit, including commitments under commercial construction arrangements, commercial and home equity lines of credit, credit card arrangements, commercial letters of credit and standby letters of credit. Such financial instruments are recorded when they are funded. | ||||
DERIVATIVE FINANCIAL INSTRUMENTS | ||||
ASC Topic 815 requires that all derivatives be recognized as assets or liabilities in the balance sheet at fair value. The Company may enter into derivative contracts to manage exposure to interest rate risk or to meet the financing and/or investing needs of its customers. | ||||
In the course of its business operations, the Company is exposed to certain risks, including interest rate, liquidity, and credit risk. The Company manages its risks through the use of derivative financial instruments, primarily through management of exposure due to the receipt or payment of future cash amounts based on interest rates. The Company’s derivative financial instruments manage the differences in the timing, amount, and duration of expected cash receipts and payments. | ||||
The primary types of derivatives used by the Company include interest rate swap agreements, forward sales contracts, interest rate lock commitments, and written and purchased options. | ||||
Hedging Activities | ||||
As part of its activities to manage interest rate risk due to interest rate movements from time to time, the Company engages in interest rate swap transactions to manage exposure to interest rate risk through modification of the Company’s net interest sensitivity to levels deemed to be appropriate. The Company utilizes these interest rate swap agreements to convert a portion of its variable-rate debt to a fixed rate (cash flow hedge). Interest rate swaps are contracts in which a series of interest rate flows are exchanged over a prescribed period. The notional amount on which the interest payments are based is not exchanged. | ||||
Because the Company designates the swap agreements used to manage interest rate risk as hedging instruments, which manage exposure to variable cash flows of forecasted transactions, the effective portion of a derivative gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings when the forecasted transaction affects earnings or when the hedge is terminated. The ineffective portion of the gain or loss is reported in earnings immediately. | ||||
In applying hedge accounting for derivatives, the Company establishes a method for assessing the effectiveness of the hedging derivative and a measurement approach for determining the ineffective aspect of the hedge upon the inception of the hedge. These methods are consistent with the Company’s approach to managing risk. At December 31, 2013, there were no hedging relationships designated for hedge accounting purposes. | ||||
Other Derivative Instruments | ||||
Interest rate swap agreements | ||||
In addition to using derivative instruments as an interest rate risk management tool, the Company also enters into derivative instruments to help its commercial customers manage their exposure to interest rate fluctuations. To mitigate the interest rate risk associated with these customer contracts, the Company enters into offsetting derivative contract positions. The Company manages its credit risk, or potential risk of default by its commercial customers, through credit limit approval and monitoring procedures. | ||||
For interest rate swap agreements that are not designated as hedging instruments, changes in the fair value of the derivatives are recognized in earnings immediately. | ||||
Rate lock commitments | ||||
The Company enters into commitments to originate loans intended for sale whereby the interest rate on the prospective loan is determined prior to funding (“rate lock commitments”). A rate lock is given to a borrower, subject to conditional performance obligations, for a specified period of time that typically does not exceed 60 days. Simultaneously with the issuance of the rate lock to the borrower, a rate lock is received from an investor for a best efforts or mandatory delivery of the loan. Under the terms of the best efforts delivery lock, the investor commits to purchase the loan at a specified price, provided the loan is funded and delivered prior to a specified date and provided that the credit and loan characteristics meet pre-established criteria for such loans. Rate lock commitments on mortgage loans that are intended to be sold are considered to be derivatives. Accordingly, such commitments are recorded at fair value as derivative assets or liabilities, with changes in fair value recorded in mortgage income. | ||||
Forward sales contracts | ||||
The Company uses forward sales commitments to protect the value of the mortgage loan pipeline and mortgage loans held for sale from changes in interest rates and pricing between the origination and sale of these loans, as changes in interest rates have the potential to cause a decline in value of the mortgage loans included in the held for sale portfolio. These commitments are considered to be derivatives and are recorded at fair value as derivative assets or liabilities, with changes in fair value recorded in mortgage income. | ||||
Equity-indexed certificates of deposit | ||||
IBERIABANK offers its customers a certificate of deposit that provides the purchaser a guaranteed return of principal at maturity plus potential return, which allows IBERIABANK to identify a known cost of funds. The rate of return is based on the performance of a basket of publically traded stocks that represent a variety of industry segments. Because it is based on an equity index, the rate of return represents an embedded derivative that is not clearly and closely related to the host instrument and is to be accounted for separately. Accordingly, the certificate of deposit is separated into two components: a zero coupon certificate of deposit (the host instrument) and a written option purchased by the depositor (an embedded derivative). The discount on the zero coupon deposit is amortized over the life of the deposit, and the written option is carried at fair value on the Company’s consolidated balance sheet, with changes in fair value recorded through earnings. IBERIABANK offsets the risks of the written option by purchasing an option with terms that mirror the written option and that is also carried at fair value on the Company’s consolidated balance sheet. | ||||
PREMISES AND EQUIPMENT | ||||
Land is carried at cost. Buildings, furniture, fixtures, and equipment are carried at cost, less accumulated depreciation computed on a straight line basis over the estimated useful lives of 10 to 40 years for buildings and 3 to 15 years for furniture, fixtures and equipment. Capitalized leasehold improvements are amortized over the length of the initial lease agreement or their useful life, whichever is shorter. | ||||
OTHER REAL ESTATE | ||||
Other real estate includes all real estate, other than bank premises used in bank operations, owned or controlled by the Company, including real estate acquired in settlement of loans. Properties are recorded at the balance of the loan (which is the pro-rata carrying value of loans accounted for in accordance with ASC 310-30) or at estimated fair value less estimated selling costs, whichever is less, at the date acquired. Subsequent to foreclosure, management periodically performs valuations and the assets are carried at the lower of cost or fair value less estimated selling costs. Revenue and expenses from operations, gain or loss on sale and changes in the valuation allowance are included in net expenses from foreclosed assets. | ||||
For further discussion of the Company’s other real estate owned, see Note 12 to the consolidated financial statements. | ||||
GOODWILL AND OTHER INTANGIBLE ASSETS | ||||
Goodwill | ||||
Goodwill is accounted for in accordance with ASC Topic 350, and accordingly is not amortized but is evaluated at least annually for impairment. As part of its testing, the Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the results of the qualitative assessment indicate impairment, the Company determines the fair value of a reporting unit relative to its carrying amount to determine whether quantitative indicators of impairment are present. When the Company determines that the fair value of the reporting unit is below its carrying amount, the Company determines the fair value of the reporting unit’s assets and liabilities, considering deferred taxes, and then measures impairment loss by comparing the implied fair value of goodwill with the carrying amount of that goodwill. | ||||
Title Plant | ||||
The Company records its title plant assets in accordance with ASC Topic 950. Under ASC Topic 950, costs incurred to construct a title plant, including the costs incurred to obtain, organize, and summarize historical information, are capitalized until the title plant can be used to perform title searches. Purchased title plant, including a purchased undivided interest in title plant, is recorded at cost at the date of acquisition. For title plant acquired separately or as part of a company acquisition, cost is measured as the fair value of the consideration given. Capitalized costs of title plant are not depreciated or charged to income unless circumstances indicate that the carrying amount of the title plant has been impaired. Impairment identifiers include a change in legal requirements or statutory practices, identification of obsolescence, and abandonment of the title plant, among other identifiers. | ||||
Intangible assets subject to amortization | ||||
The Company’s acquired intangible assets that are subject to amortization include core deposit intangibles, amortized on a straight line or accelerated basis over a 10 year average life and a customer relationship intangible asset, amortized on an accelerated basis over a 9.5 year life. | ||||
TRANSFERS OF FINANCIAL ASSETS | ||||
Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when 1) the assets have been isolated from the Company, 2) the transferee obtains the right, free of conditions that constrain it from taking advantage of that right, to pledge or exchange the transferred assets, and 3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Should the transfer not meet these three criteria, the transaction is treated as a secured financing. | ||||
INCOME TAXES | ||||
The Company and all subsidiaries file a consolidated federal income tax return on a calendar year basis. The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions through IBERIABANK, LTC and their subsidiaries. In lieu of Louisiana state income tax, IBERIABANK is subject to the Louisiana bank shares tax, which is included in non-interest expense or income tax expense in the Company’s consolidated financial statements. With few exceptions, the Company is no longer subject to U.S. federal, state or local income tax examinations for years before 2010. | ||||
Deferred income tax assets and liabilities are determined using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is determined based on the tax effects of the temporary differences between the book and tax bases of the various balance sheet assets and liabilities and gives current recognition to changes in tax rates and laws. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that, based on available evidence, are not expected to be realized. | ||||
The Company recognizes interest and penalties accrued related to unrecognized tax benefits, if applicable, in non-interest expense. | ||||
STOCK COMPENSATION PLANS | ||||
The Company issues stock options and restricted stock under various plans to directors, officers and other key employees. The Company accounts for its stock compensation plans in accordance with ASC Topics 718 and 505. Under those provisions, the Company has adopted a fair value based method of accounting for employee stock compensation plans, whereby compensation cost is measured at the grant date based on the value of the award and is recognized on a straight-line basis over the service period, which is usually the vesting period, taking into account retirement eligibility. For service awards with graded vesting, the Company recognizes compensation cost on a straight-line basis. As a result, compensation expense relating to stock options and restricted stock is reflected in net income as part of “Salaries and employee benefits” on the consolidated statements of comprehensive income for employees and “Professional services” for non-employee directors. The Company’s practice has been to grant options at no less than the fair market value of the stock at the grant date. | ||||
See Note 20 for additional information on the Company’s share-based compensation plans. | ||||
EARNINGS PER COMMON SHARE | ||||
Basic earnings per share represents income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares, in the form of stock options, had been issued, as well as any adjustment to income that would result from the assumed issuance. Participating common shares issued by the Company relate to unvested outstanding restricted stock awards, the earnings allocated to which are used in determining income available to common shareholders under the two-class method. | ||||
See Note 3 for additional information on the Company’s calculation of earnings per share. | ||||
TREASURY STOCK | ||||
The purchase of the Company’s common stock is recorded at cost. At the date of retirement or subsequent reissuance, treasury stock is reduced by the cost of such stock with differences recorded in additional paid-in capital or retained earnings, as applicable. | ||||
COMPREHENSIVE INCOME | ||||
Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities and cash flow hedges, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income. | ||||
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 | ||||
Excluding loans held for sale that are recorded at fair value under the fair value option, mortgage loans originated and held for sale are carried at the lower of cost or estimated fair value. When determining the fair value of loans held for sale, 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 24. | ||||
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 observable 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 December 31, 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 $4,813,000, $6,409,000, and $7,250,000 in earnings for the years ended December 31, 2013, 2012, and 2011, respectively. | ||||
Derivative financial instruments | ||||
The Company enters into commitments to originate loans whereby the interest rate on the prospective loan is determined prior to funding. 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 | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Changes And Error Corrections [Abstract] | ' |
Recent Accounting Pronouncements | ' |
NOTE 2 – RECENT ACCOUNTING PRONOUNCEMENTS | |
ASU No. 2012-06 | |
During 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 expense for the year ended December 31, 2013 increased by $23,324,000, however the change in amortization period did not have a material impact on the Company’s 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 as of and for the year ended December 31, 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 18 in these consolidated financial statements. | |
ASU No. 2011-11 and ASU No. 2013-01 | |
During 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 13 of these consolidated financial statements. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | ||||||||||||
Dec. 31, 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 Years Ended December 31, | |||||||||||||
(Dollars in thousands, except per share data) | 2013 | 2012 | 2011 | ||||||||||
Income available to common shareholders | $ | 65,103 | $ | 76,395 | $ | 53,538 | |||||||
Distributed earnings to unvested restricted stock | (1,206 | ) | (1,443 | ) | (988 | ) | |||||||
Distributed earnings to common shareholders - basic | 63,897 | 74,952 | 52,550 | ||||||||||
Undistributed earnings reallocated to unvested restricted stock | (3 | ) | 6 | 21 | |||||||||
Distributed and undistributed earnings to common shareholders - diluted | $ | 63,894 | $ | 74,958 | $ | 52,571 | |||||||
Weighted average shares outstanding - basic (1) | 29,605,088 | 29,454,084 | 28,500,420 | ||||||||||
Weighted average shares outstanding - diluted | 29,105,098 | 28,957,696 | 28,141,300 | ||||||||||
Earnings per common share - basic | $ | 2.2 | $ | 2.59 | $ | 1.88 | |||||||
Earnings per common share - diluted | 2.2 | 2.59 | 1.87 | ||||||||||
Earnings per unvested restricted stock share - basic | 2.18 | 2.61 | 2.04 | ||||||||||
Earnings per unvested restricted stock share - diluted | 2.18 | 2.6 | 2 | ||||||||||
-1 | Weighted average basic shares outstanding include 553,016, 552,609, and 484,361 shares of unvested restricted stock for the years ended December 31, 2013, 2012, and 2011, respectively. | ||||||||||||
Additional information on the Company’s basic earnings per common share is shown in the following table. | |||||||||||||
For the Years Ended December 31, | |||||||||||||
(Dollars in thousands, except per share data) | 2013 | 2012 | 2011 | ||||||||||
Distributed earnings to common shareholders | $ | 39,685 | $ | 39,349 | $ | 38,681 | |||||||
Undistributed earnings to common shareholders | 24,212 | 35,603 | 13,869 | ||||||||||
Total earnings to common shareholders | $ | 63,897 | $ | 74,952 | $ | 52,550 | |||||||
Distributed earnings to unvested restricted stock | $ | 749 | $ | 758 | $ | 727 | |||||||
Undistributed earnings to unvested restricted stock | 457 | 685 | 261 | ||||||||||
Total earnings allocated to unvested restricted stock | $ | 1,206 | $ | 1,443 | $ | 988 | |||||||
Distributed earnings per common share | $ | 1.37 | $ | 1.36 | $ | 1.38 | |||||||
Undistributed earnings per common share | 0.83 | 1.23 | 0.5 | ||||||||||
Total earnings per common share - basic | $ | 2.2 | $ | 2.59 | $ | 1.88 | |||||||
Distributed earnings per unvested restricted stock share | $ | 1.35 | $ | 1.37 | $ | 1.5 | |||||||
Undistributed earnings per unvested restricted stock share | 0.83 | 1.24 | 0.54 | ||||||||||
Total earnings per unvested restricted stock share - basic | $ | 2.18 | $ | 2.61 | $ | 2.04 | |||||||
For the years ended December 31, 2013, 2012, and 2011, the calculations for basic shares outstanding exclude the weighted average shares owned by the Recognition and Retention Plan (“RRP”) of 642,008, 612,097, and 571,262, respectively, and are adjusted for the weighted average shares in treasury stock of 2,223,306, 1,964,825, and 1,300,222, respectively. | |||||||||||||
The effects from the assumed exercises of 483,696, 752,188, and 542,716 stock options were not included in the computation of diluted earnings per share for years ended December 31, 2013, 2012 and 2011, respectively, because such amounts would have had an antidilutive effect on earnings per common share. |
Disposition_Activity
Disposition Activity | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||
Disposition Activity | ' | ||||||||
NOTE 4 – DISPOSITION ACTIVITY | |||||||||
Branch Dispositions | |||||||||
In 2012, the Company closed ten branches as part of its ongoing business strategy, which includes a periodic review of its branch network to maximize shareholder return. In 2013, the Company closed or consolidated an additional 14 branches. As part of these branch closures, the Company incurred various disposal costs during the years ended December 31, 2013 and 2012, 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 years indicated. The Company estimates future exit costs, which would include additional employee termination costs, fixed asset disposals, and lease termination costs, will not be material. | |||||||||
For the Years Ended December 31, | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Employee termination | $ | 299 | $ | 477 | |||||
Accelerated depreciation | 1,033 | 576 | |||||||
Contract termination | 659 | 20 | |||||||
Impairment | 4,941 | 2,743 | |||||||
$ | 6,932 | $ | 3,816 | ||||||
Investment_Securities
Investment Securities | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 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: | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
(Dollars in thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 406,092 | $ | 1,382 | $ | (11,913 | ) | $ | 395,561 | ||||||||||||||||
Obligations of state and political obligations | 105,300 | 2,435 | (256 | ) | 107,479 | ||||||||||||||||||||
Mortgage-backed securities | 1,450,194 | 10,031 | (27,947 | ) | 1,432,278 | ||||||||||||||||||||
Other securities | 1,460 | 19 | — | 1,479 | |||||||||||||||||||||
Total securities available for sale | $ | 1,963,046 | $ | 13,867 | $ | (40,116 | ) | $ | 1,936,797 | ||||||||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 34,478 | $ | 484 | $ | — | $ | 34,962 | |||||||||||||||||
Obligations of state and political obligations | 84,290 | 1,463 | (1,624 | ) | 84,129 | ||||||||||||||||||||
Mortgage-backed securities | 35,341 | 258 | (2,124 | ) | 33,475 | ||||||||||||||||||||
Total securities held to maturity | $ | 154,109 | $ | 2,205 | $ | (3,748 | ) | $ | 152,566 | ||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
(Dollars in thousands) | Cost | 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 | ||||||||||||||||
At December 31, 2013, the Company’s exposure to two investment security issuers individually exceeded 10% of shareholders’ equity: | |||||||||||||||||||||||||
(Dollars in thousands) | Amortized Cost | Market Value | |||||||||||||||||||||||
Federal National Mortgage Association (Fannie Mae) | $ | 1,099,986 | $ | 1,084,466 | |||||||||||||||||||||
Federal Home Loan Mortgage Corporation (Freddie Mac) | 633,222 | 619,101 | |||||||||||||||||||||||
$ | 1,733,208 | $ | 1,703,567 | ||||||||||||||||||||||
Securities with carrying values of $1.5 billion and $1.7 billion were pledged to secure public deposits and other borrowings at December 31, 2013 and 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: | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Less Than Twelve Months | Over Twelve Months | Total | |||||||||||||||||||||||
Gross | Estimated | Gross | Estimated | Gross | Estimated | ||||||||||||||||||||
Unrealized | Fair | Unrealized | Fair | Unrealized | Fair | ||||||||||||||||||||
(Dollars in thousands) | Losses | Value | Losses | Value | Losses | Value | |||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | (11,764 | ) | $ | 298,515 | $ | (149 | ) | $ | 5,515 | $ | (11,913 | ) | $ | 304,030 | ||||||||||
Obligations of state and political obligations | (30 | ) | 2,415 | (226 | ) | 1,047 | (256 | ) | 3,462 | ||||||||||||||||
Mortgage-backed securities | (23,749 | ) | 864,899 | (4,198 | ) | 81,870 | (27,947 | ) | 946,769 | ||||||||||||||||
Total securities available for sale | $ | (35,543 | ) | $ | 1,165,829 | $ | (4,573 | ) | $ | 88,432 | $ | (40,116 | ) | $ | 1,254,261 | ||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
Obligations of state and political obligations | $ | (1,181 | ) | $ | 29,355 | $ | (443 | ) | $ | 6,240 | $ | (1,624 | ) | $ | 35,595 | ||||||||||
Mortgage-backed securities | (952 | ) | 12,913 | (1,172 | ) | 11,616 | (2,124 | ) | 24,529 | ||||||||||||||||
Total securities held to maturity | $ | (2,133 | ) | $ | 42,268 | $ | (1,615 | ) | $ | 17,856 | $ | (3,748 | ) | $ | 60,124 | ||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Less Than Twelve Months | Over Twelve Months | Total | |||||||||||||||||||||||
Gross | Estimated | Gross | Estimated | Gross | Estimated | ||||||||||||||||||||
Unrealized | Fair | Unrealized | Fair | Unrealized | Fair | ||||||||||||||||||||
(Dollars in thousands) | 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 December, 31, 2013 and 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 December 31, 2013, 207 debt securities had unrealized losses of 3.23% of the securities’ amortized cost basis and 2.07% of the Company’s total amortized cost basis. The unrealized losses for each of the 207 securities relate to market interest rate changes. Twenty-five of the 207 securities have been in a continuous loss position for over twelve months at December 31, 2013. These 25 securities had an aggregate amortized cost basis and unrealized loss of $112,476,000 and $6,188,000, respectively. Twenty of the 25 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. Five 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 December 31, 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 December 31, 2013. The third bond issuer has a credit rating of AA+ by S&P and as a result, the Company concluded that an other-than-temporary impairment charge was not required at December 31, 2013. The fourth bond issuer has a credit rating of Aaa by Moody’s and AAA by S&P and as a result, the Company concluded that an other-than-temporary impairment charge was not required at December 31, 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 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. | |||||||||||||||||||||||||
The following table reflects activity during the years ended December 31, 2013, 2012, and 2011 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. | |||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Balance at beginning of period | $ | (1,273 | ) | $ | (1,273 | ) | $ | (764 | ) | ||||||||||||||||
Credit losses on securities not previously considered other-than-temporarily impaired | — | — | — | ||||||||||||||||||||||
Credit losses on securities for which OTTI was previously recognized | — | — | (509 | ) | |||||||||||||||||||||
Reduction for securities sold/settled during the period | — | — | — | ||||||||||||||||||||||
Balance at end of period | $ | (1,273 | ) | $ | (1,273 | ) | $ | (1,273 | ) | ||||||||||||||||
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 December 31, 2013 or 2012. | |||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities by maturity at December 31, 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. Weighted average yields are calculated on the basis of the yield to maturity based on the amortized cost of each security. | |||||||||||||||||||||||||
Securities Available for Sale | Securities Held to Maturity | ||||||||||||||||||||||||
Weighted | Estimated | Weighted | Estimated | ||||||||||||||||||||||
Average | Amortized | Fair | Average | Amortized | Fair | ||||||||||||||||||||
(Dollars in thousands) | Yield | Cost | Value | Yield | Cost | Value | |||||||||||||||||||
Within one year or less | 2.03 | % | $ | 17,184 | $ | 17,355 | 1.85 | % | $ | 24,548 | $ | 24,719 | |||||||||||||
One through five years | 1.36 | 231,505 | 230,338 | 3.01 | 18,026 | 18,557 | |||||||||||||||||||
After five through ten years | 2.09 | 558,892 | 552,993 | 2.74 | 24,692 | 24,971 | |||||||||||||||||||
Over ten years | 2.19 | 1,155,465 | 1,136,111 | 3.1 | 86,843 | 84,319 | |||||||||||||||||||
2.06 | % | $ | 1,963,046 | $ | 1,936,797 | 2.83 | % | $ | 154,109 | $ | 152,566 | ||||||||||||||
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. | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Realized gains | $ | 2,387 | $ | 3,754 | $ | 3,429 | |||||||||||||||||||
Realized losses | (110 | ) | (15 | ) | (7 | ) | |||||||||||||||||||
$ | 2,277 | $ | 3,739 | $ | 3,422 | ||||||||||||||||||||
In addition to the gains above, the Company realized certain immaterial gains on calls of held to maturity securities. | |||||||||||||||||||||||||
Other Equity Securities | |||||||||||||||||||||||||
At December 31, 2013 and 2012, the Company included the following securities in “Other assets” on the consolidated balance sheets: | |||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||
Federal Home Loan Bank (FHLB) stock | $ | 24,369 | $ | 16,860 | |||||||||||||||||||||
Federal Reserve Bank (FRB) stock | 28,098 | 28,155 | |||||||||||||||||||||||
Other investments | 1,306 | 1,201 | |||||||||||||||||||||||
$ | 53,773 | $ | 46,216 | ||||||||||||||||||||||
Loans_Receivable
Loans Receivable | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 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: | |||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | Non-covered loans | Covered loans | Total | ||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 3,479,973 | $ | 387,332 | $ | 3,867,305 | |||||||||||||||||||||||||||
Business | 2,959,088 | 37,025 | 2,996,113 | ||||||||||||||||||||||||||||||
6,439,061 | 424,357 | 6,863,418 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 423,057 | 154,025 | 577,082 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | 9,450 | — | 9,450 | ||||||||||||||||||||||||||||||
432,507 | 154,025 | 586,532 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 1,154,670 | 137,122 | 1,291,792 | ||||||||||||||||||||||||||||||
Indirect automobile | 375,236 | — | 375,236 | ||||||||||||||||||||||||||||||
Other | 370,752 | 4,289 | 375,041 | ||||||||||||||||||||||||||||||
1,900,658 | 141,411 | 2,042,069 | |||||||||||||||||||||||||||||||
$ | 8,772,226 | $ | 719,793 | $ | 9,492,019 | ||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
(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 deposits, 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”). Substantially all of 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” and loans that are not subject to the loss share agreements as “non-covered loans.” | |||||||||||||||||||||||||||||||||
Deferred loan origination fees were $18,634,000 and $14,040,000 and deferred loan expenses were $7,618,000 and $5,270,000 at December 31, 2013 and 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 December 31, 2013 and 2012, overdrafts of $3,065,000 and $3,231,000, respectively, have been reclassified to loans receivable. | |||||||||||||||||||||||||||||||||
Loans with carrying values of $2.3 billion and $1.5 billion were pledged to secure public deposits and other borrowings at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||
Non-covered Loans | |||||||||||||||||||||||||||||||||
The following tables provide an analysis of the aging of non-covered loans as of December 31, 2013 and 2012. 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 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. | |||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||
Total Non-covered | Recorded | ||||||||||||||||||||||||||||||||
Past Due (1) | 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 | $ | — | $ | — | $ | 1,803 | $ | 1,803 | $ | 381,292 | $ | 383,095 | $ | — | |||||||||||||||||||
Commercial real estate - other | 6,098 | 5,630 | 7,650 | 19,378 | 2,732,431 | 2,751,809 | 2 | ||||||||||||||||||||||||||
Commercial business | 2,117 | 423 | 15,020 | 17,560 | 2,888,491 | 2,906,051 | — | ||||||||||||||||||||||||||
Residential prime | 1,104 | 852 | 9,684 | 11,640 | 286,167 | 297,807 | 1,073 | ||||||||||||||||||||||||||
Residential subprime | — | — | 1,626 | 1,626 | 114,939 | 116,565 | — | ||||||||||||||||||||||||||
Home equity | 1,956 | 569 | 6,808 | 9,333 | 1,091,894 | 1,101,227 | — | ||||||||||||||||||||||||||
Indirect automobile | 1,427 | 293 | 1,275 | 2,995 | 370,388 | 373,383 | — | ||||||||||||||||||||||||||
Credit card | 266 | 92 | 411 | 769 | 62,873 | 63,642 | — | ||||||||||||||||||||||||||
Other | 458 | 106 | 485 | 1,049 | 293,693 | 294,742 | — | ||||||||||||||||||||||||||
$ | 13,426 | $ | 7,965 | $ | 44,762 | $ | 66,153 | $ | 8,222,168 | $ | 8,288,321 | $ | 1,075 | ||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||
Total Non-covered | Recorded | ||||||||||||||||||||||||||||||||
Past Due (1) | 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. | ||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||
Total Non-covered | Recorded | ||||||||||||||||||||||||||||||||
Past Due (1) | 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 | $ | 388 | $ | — | $ | 2,542 | $ | 2,930 | $ | 19,833 | $ | (2,532 | ) | $ | 20,231 | $ | 2,542 | ||||||||||||||||
Commercial real estate - other | 1,798 | 1,963 | 27,967 | 31,728 | 345,286 | (52,176 | ) | 324,838 | 27,967 | ||||||||||||||||||||||||
Commercial business | 544 | — | 1,218 | 1,762 | 54,189 | (2,914 | ) | 53,037 | 1,218 | ||||||||||||||||||||||||
Residential prime | — | — | 226 | 226 | 18,796 | (887 | ) | 18,135 | 226 | ||||||||||||||||||||||||
Home equity | 313 | 516 | 4,242 | 5,071 | 53,995 | (5,623 | ) | 53,443 | 4,242 | ||||||||||||||||||||||||
Indirect automobile | 33 | — | 95 | 128 | 1,725 | — | 1,853 | 95 | |||||||||||||||||||||||||
Other | 175 | 101 | 975 | 1,251 | 12,598 | (1,481 | ) | 12,368 | 975 | ||||||||||||||||||||||||
$ | 3,251 | $ | 2,580 | $ | 37,265 | $ | 43,096 | $ | 506,422 | $ | (65,613 | ) | $ | 483,905 | $ | 37,265 | |||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||
Total Non-covered | Recorded | ||||||||||||||||||||||||||||||||
Past Due (1) | 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 excluding acquired loans on nonaccrual status at December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 1,803 | $ | 5,479 | |||||||||||||||||||||||||||||
Commercial real estate - other | 7,648 | 23,476 | |||||||||||||||||||||||||||||||
Commercial business | 15,020 | 3,358 | |||||||||||||||||||||||||||||||
Residential prime | 8,611 | 8,367 | |||||||||||||||||||||||||||||||
Residential subprime | 1,626 | — | |||||||||||||||||||||||||||||||
Home equity | 6,808 | 5,635 | |||||||||||||||||||||||||||||||
Indirect automobile | 1,275 | 868 | |||||||||||||||||||||||||||||||
Credit card | 411 | 424 | |||||||||||||||||||||||||||||||
Other | 485 | 310 | |||||||||||||||||||||||||||||||
$ | 43,687 | $ | 47,917 | ||||||||||||||||||||||||||||||
The amount of interest income that would have been recorded in 2013, 2012 and 2011 if total nonaccrual loans had been current in accordance with their contractual terms was approximately $2,867,000, $3,193,000 and $4,113,000, respectively. | |||||||||||||||||||||||||||||||||
Covered Loans | |||||||||||||||||||||||||||||||||
The carrying amount of the acquired covered loans at December 31, 2013 and 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. | |||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Covered | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Loans | Loans | Loans | ||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 14,904 | $ | 372,428 | $ | 387,332 | |||||||||||||||||||||||||||
Business | — | 37,025 | 37,025 | ||||||||||||||||||||||||||||||
14,904 | 409,453 | 424,357 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 28,223 | 125,802 | 154,025 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | — | — | — | ||||||||||||||||||||||||||||||
28,223 | 125,802 | 154,025 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 21,768 | 115,354 | 137,122 | ||||||||||||||||||||||||||||||
Indirect automobile | — | — | — | ||||||||||||||||||||||||||||||
Other | 1,182 | 3,107 | 4,289 | ||||||||||||||||||||||||||||||
22,950 | 118,461 | 141,411 | |||||||||||||||||||||||||||||||
$ | 66,077 | $ | 653,716 | $ | 719,793 | ||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Covered | |||||||||||||||||||||||||||||||
(Dollars in thousands) | 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 difference of acquired loans during the years ended December 31, 2013, 2012 and 2011. | |||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Acquired | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Loans | Loans | Loans | ||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 76,623 | $ | 279,770 | $ | 356,393 | |||||||||||||||||||||||||||
Transfers from nonaccretable difference to accretable yield | 7,849 | 42,894 | 50,743 | ||||||||||||||||||||||||||||||
Accretion | (16,273 | ) | (163,183 | ) | (179,456 | ) | |||||||||||||||||||||||||||
Changes in expected cash flows not affecting nonaccretable differences (1) | 10,150 | 117,062 | 127,212 | ||||||||||||||||||||||||||||||
Balance at end of period | $ | 78,349 | $ | 276,543 | $ | 354,892 | |||||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Acquired | |||||||||||||||||||||||||||||||
Loans | Loans | Loans | |||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 83,834 | $ | 386,977 | $ | 470,811 | |||||||||||||||||||||||||||
Acquisition | 1,190 | 22,899 | 24,089 | ||||||||||||||||||||||||||||||
Transfers from nonaccretable difference to accretable yield | (11,816 | ) | (47,842 | ) | (59,658 | ) | |||||||||||||||||||||||||||
Accretion | (30,417 | ) | (218,892 | ) | (249,309 | ) | |||||||||||||||||||||||||||
Changes in expected cash flows not affecting nonaccretable differences (1) | 33,832 | 136,628 | 170,460 | ||||||||||||||||||||||||||||||
Balance at end of period | $ | 76,623 | $ | 279,770 | $ | 356,393 | |||||||||||||||||||||||||||
2011 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Acquired | |||||||||||||||||||||||||||||||
Loans | Loans | Loans | |||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 82,381 | $ | 626,190 | $ | 708,571 | |||||||||||||||||||||||||||
Acquisition | 7,346 | 139,163 | 146,509 | ||||||||||||||||||||||||||||||
Net transfers from (to) nonaccretable difference to (from) accretable yield | 37,687 | (216,551 | ) | (178,864 | ) | ||||||||||||||||||||||||||||
Accretion | (43,580 | ) | (161,825 | ) | (205,405 | ) | |||||||||||||||||||||||||||
Balance at end of period | $ | 83,834 | $ | 386,977 | $ | 470,811 | |||||||||||||||||||||||||||
-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 difference during 2013 and 2012 decreased primarily as a result of accretion recognized, offset by changes in expected cash flows not impacting the nonaccretable difference in each respective period. Accretable difference during 2011 decreased primarily as a result of a change in expected cash flows on the Company’s loans during 2011. | |||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||
Information about the Company’s TDRs at December 31, 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 TDR are excluded from the tables below. | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Accruing Loans | Accruing Loans | ||||||||||||||||||||||||||||||||
Past Due | Past Due | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | > 30 days | Nonaccrual TDRs | Total TDRs | Current | > 30 days | Nonaccrual TDRs | Total TDRs | |||||||||||||||||||||||||
Commercial real estate construction | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Commercial real estate - other | 400 | — | 4,452 | 4,852 | 1,057 | — | 14,853 | 15,910 | |||||||||||||||||||||||||
Commercial business | 976 | — | 13,791 | 14,767 | 1,204 | — | 281 | 1,485 | |||||||||||||||||||||||||
Residential prime | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Residential subprime | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Home equity | — | — | 258 | 258 | 93 | — | 222 | 315 | |||||||||||||||||||||||||
Indirect automobile | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
$ | 1,376 | $ | — | $ | 18,501 | $ | 19,877 | $ | 2,354 | $ | — | $ | 15,356 | $ | 17,710 | ||||||||||||||||||
At December 31, 2013, TDRs totaling $19,877,000 included $14,562,000 of TDRs that occurred during the current year through modification of the original loan terms. Total TDRs of $17,710,000 at December 31, 2012 included $4,649,000 of TDRs that occurred during the year ended December 31, 2012. The following table provides information on how the TDRs were modified during the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||||
Extended maturities | $ | — | $ | 412 | |||||||||||||||||||||||||||||
Interest rate adjustment | — | 277 | |||||||||||||||||||||||||||||||
Maturity and interest rate adjustment | — | 1,249 | |||||||||||||||||||||||||||||||
Movement to or extension of interest-rate only payments | — | 2,543 | |||||||||||||||||||||||||||||||
Forbearance | 12,975 | 168 | |||||||||||||||||||||||||||||||
Other concession(s) (1) | 1,587 | — | |||||||||||||||||||||||||||||||
$ | 14,562 | $ | 4,649 | ||||||||||||||||||||||||||||||
-1 | Other concessions include concessions or a combination of concessions that do not consist of maturity extensions, interest rate adjustments, forbearance or covenant modifications. | ||||||||||||||||||||||||||||||||
Information about the Company’s TDRs occurring in these periods is presented in the following table. | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Pre-modification | Post-modification | Pre-modification | Post-modification | ||||||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | ||||||||||||||||||||||||||||
(In thousands, except number of loans) | Loans | Investment | Investment (1) | Loans | Investment | Investment (1) | |||||||||||||||||||||||||||
Commercial real estate | — | $ | — | $ | — | 14 | $ | 3,852 | $ | 3,312 | |||||||||||||||||||||||
Commercial business | 9 | 14,835 | 12,429 | 4 | 1,215 | 1,188 | |||||||||||||||||||||||||||
Residential prime | — | — | — | — | — | — | |||||||||||||||||||||||||||
Home Equity | — | — | — | 1 | 94 | 51 | |||||||||||||||||||||||||||
Indirect automobile | — | — | — | — | — | — | |||||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | |||||||||||||||||||||||||||
Other | — | — | — | 1 | — | — | |||||||||||||||||||||||||||
9 | $ | 14,835 | $ | 12,429 | 20 | $ | 5,161 | $ | 4,551 | ||||||||||||||||||||||||
-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. | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||||||
(In thousands, except number of loans) | Loans | Investment | Loans | Investment | |||||||||||||||||||||||||||||
Commercial real estate | 35 | $ | 4,452 | 44 | $ | 14,615 | |||||||||||||||||||||||||||
Commercial business | 17 | 12,808 | 9 | 1,469 | |||||||||||||||||||||||||||||
Residential prime | — | — | — | — | |||||||||||||||||||||||||||||
Home Equity | 1 | 45 | 2 | 273 | |||||||||||||||||||||||||||||
Indirect automobile | — | — | — | — | |||||||||||||||||||||||||||||
Credit card | — | — | — | — | |||||||||||||||||||||||||||||
Other | 1 | — | 1 | — | |||||||||||||||||||||||||||||
54 | $ | 17,305 | 56 | $ | 16,357 | ||||||||||||||||||||||||||||
Allowance_for_Credit_Losses_an
Allowance for Credit Losses and Credit Quality | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses and Credit Quality | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
NOTE 7 – ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY | |||||||||||||||||||||||||||||||||||||||||||||||||
Change in Methodology | |||||||||||||||||||||||||||||||||||||||||||||||||
During 2013, the Company modified its methodology for estimating its allowance for credit losses on its non-covered, non-acquired loan portfolio to further incorporate practices, processes, and methodologies consistent with the guidance provided in the Interagency Policy Statement on the Allowance for Loan and Lease Losses jointly issued by the Federal Reserve Board and other federal banking agencies (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 implemented 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 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. | ||||||||||||||||||||||||||||||||||||||||||||||||
Additionally, the following changes were made from the Company’s previous methodology utilized through the three months ended March 31, 2013: | |||||||||||||||||||||||||||||||||||||||||||||||||
• | Segregation of the RULC, which was previously included in the Company’s allowance for loan losses, 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. | ||||||||||||||||||||||||||||||||||||||||||||||||
Although comparison of the Company’s current and previous methodologies is inherently imprecise given economic conditions and other factors, the following table presents the effect of the change in methodology on the Company’s consolidated financial statements as of December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands, except per share data) | Current Methodology | Previous Methodolgy (1) | Difference | Per Share Difference | |||||||||||||||||||||||||||||||||||||||||||||
Selected Data | |||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | $ | 67,342 | $ | 77,759 | $ | (10,417 | ) | ||||||||||||||||||||||||||||||||||||||||||
Reserve for unfunded lending commitments | 11,147 | — | 11,147 | ||||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | $ | 78,489 | $ | 77,759 | $ | 730 | |||||||||||||||||||||||||||||||||||||||||||
Provision for loan losses | $ | 6,828 | $ | 7,417 | $ | (589 | ) | $ | (0.01 | ) | |||||||||||||||||||||||||||||||||||||||
Provision for unfunded lending commitments | 1,319 | — | 1,319 | 0.03 | |||||||||||||||||||||||||||||||||||||||||||||
Total provision for credit losses | $ | 8,147 | $ | 7,417 | $ | 730 | $ | 0.02 | |||||||||||||||||||||||||||||||||||||||||
-1 | The RULC was previously presented as part of the allowance for loan losses. | ||||||||||||||||||||||||||||||||||||||||||||||||
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: | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 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 | 6,828 | (3,158 | ) | (54,610 | ) | (50,940 | ) | ||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | 56,085 | 56,085 | |||||||||||||||||||||||||||||||||||||||||||||
Net (reversal of) provision for loan losses | 6,828 | (3,158 | ) | 1,475 | 5,145 | ||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | (56,085 | ) | (56,085 | ) | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | (1,085 | ) | (27,041 | ) | (28,126 | ) | ||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to the RULC | (9,828 | ) | — | — | (9,828 | ) | |||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (10,686 | ) | (31 | ) | (15,764 | ) | (26,481 | ) | |||||||||||||||||||||||||||||||||||||||||
Recoveries | 6,817 | 15 | 14 | 6,846 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 67,342 | $ | 4,557 | $ | 71,175 | $ | 143,074 | |||||||||||||||||||||||||||||||||||||||||
Reserve for unfunded lending commitments | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||
Transfer of balance from the allowance for loan losses | 9,828 | — | — | 9,828 | |||||||||||||||||||||||||||||||||||||||||||||
Provision for unfunded lending commitments | 1,319 | — | — | 1,319 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 11,147 | $ | — | $ | — | $ | 11,147 | |||||||||||||||||||||||||||||||||||||||||
December 31, 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 | |||||||||||||||||||||||||||||||||||||||||
Provision for loan losses before adjustment attributable to FDIC loss share agreements | 3,804 | 9,799 | 91,153 | 104,756 | |||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | (84,085 | ) | (84,085 | ) | |||||||||||||||||||||||||||||||||||||||||||
Net provision for loan losses | 3,804 | 9,799 | 7,068 | 20,671 | |||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | 84,085 | 84,085 | |||||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | (826 | ) | (26,343 | ) | (27,169 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (9,728 | ) | (179 | ) | (15,153 | ) | (25,060 | ) | |||||||||||||||||||||||||||||||||||||||||
Recoveries | 5,274 | 22 | 19 | 5,315 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 74,211 | $ | 8,816 | $ | 168,576 | $ | 251,603 | |||||||||||||||||||||||||||||||||||||||||
31-Dec-11 | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
Excluding Acquired Loans | Acquired Loans | Covered Loans | Total | ||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 62,460 | $ | — | $ | 73,640 | $ | 136,100 | |||||||||||||||||||||||||||||||||||||||||
Provision for loan losses before adjustment attributable to FDIC loss share agreements | 19,974 | — | 63,014 | 82,988 | |||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | (57,121 | ) | (57,121 | ) | |||||||||||||||||||||||||||||||||||||||||||
Net provision for loan losses | 19,974 | — | 5,893 | 25,867 | |||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | 57,121 | 57,121 | |||||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | — | (17,143 | ) | (17,143 | ) | |||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (15,022 | ) | — | (1,137 | ) | (16,159 | ) | ||||||||||||||||||||||||||||||||||||||||||
Recoveries | 7,449 | — | 526 | 7,975 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 74,861 | $ | — | $ | 118,900 | $ | 193,761 | |||||||||||||||||||||||||||||||||||||||||
A summary of changes in the allowance for credit losses for non-covered loans, by loan portfolio type, is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
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 | (8,830 | ) | 3,543 | 860 | 8,097 | — | 3,670 | ||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (319 | ) | (113 | ) | (646 | ) | (7 | ) | — | (1,085 | ) | ||||||||||||||||||||||||||||||||||||||
Transfer of balance to the RULC | (2,939 | ) | (3,497 | ) | (40 | ) | (3,352 | ) | — | (9,828 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (2,940 | ) | (516 | ) | (518 | ) | (6,743 | ) | — | (10,717 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 3,354 | 377 | 765 | 2,336 | — | 6,832 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 26,590 | $ | 28,515 | $ | 2,546 | $ | 14,248 | — | $ | 71,899 | ||||||||||||||||||||||||||||||||||||||
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 | 150 | 1,342 | 32 | (205 | ) | — | 1,319 | ||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 3,089 | $ | 4,839 | $ | 72 | $ | 3,147 | $ | — | $ | 11,147 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | 8 | $ | 841 | $ | 180 | $ | — | $ | — | $ | 1,029 | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 26,582 | 27,674 | 2,366 | 14,248 | — | 70,870 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 3,479,973 | $ | 2,959,088 | $ | 432,507 | $ | 1,900,658 | $ | — | $ | 8,772,226 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | 8,705 | 15,812 | 1,407 | 258 | — | 26,182 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 3,471,268 | 2,943,276 | 431,100 | 1,900,400 | — | 8,746,044 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 12,240 | 30 | 126 | 1,387 | — | 13,783 | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 35,604 | $ | 25,705 | $ | 897 | $ | 12,655 | $ | — | $ | 74,861 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 1,786 | 4,021 | 2,578 | 5,218 | — | 13,603 | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (292 | ) | — | (525 | ) | (9 | ) | — | (826 | ) | |||||||||||||||||||||||||||||||||||||||
Loans charged off | (2,000 | ) | (1,116 | ) | (863 | ) | (5,928 | ) | — | (9,907 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 3,166 | 111 | 38 | 1,981 | — | 5,296 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 38,264 | $ | 28,721 | $ | 2,125 | $ | 13,917 | $ | — | $ | 83,027 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | 226 | $ | 449 | $ | 163 | $ | 42 | $ | — | $ | 880 | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 38,038 | 28,272 | 1,962 | 13,875 | — | 82,147 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 2,990,700 | $ | 2,450,667 | $ | 290,040 | $ | 1,674,417 | $ | — | $ | 7,405,824 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | 28,052 | 4,401 | 1,703 | 315 | — | 34,471 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 2,962,648 | 2,446,266 | 288,337 | 1,674,102 | — | 7,371,353 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 55,856 | 3,470 | 330 | 5,035 | — | 64,691 | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 31,390 | $ | 16,473 | $ | 1,265 | $ | 13,332 | $ | — | $ | 62,460 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 6,809 | 9,533 | (215 | ) | 3,847 | — | 19,974 | ||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans charged off | (7,656 | ) | (471 | ) | (222 | ) | (6,673 | ) | — | (15,022 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 5,061 | 170 | 69 | 2,149 | — | 7,449 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 35,604 | $ | 25,705 | $ | 897 | $ | 12,655 | $ | — | $ | 74,861 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | 1,874 | $ | 179 | $ | 133 | $ | — | $ | — | $ | 2,186 | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 33,730 | 25,526 | 764 | 12,655 | — | 72,675 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 2,591,013 | $ | 1,896,496 | $ | 283,113 | $ | 1,282,966 | $ | — | $ | 6,053,588 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | 34,541 | 6,530 | 1,009 | 231 | — | 42,311 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 2,556,472 | 1,889,966 | 282,104 | 1,282,735 | — | 6,011,277 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 4,835 | 26,531 | — | 4,129 | — | 35,495 | |||||||||||||||||||||||||||||||||||||||||||
A summary of changes in the allowance for credit losses for covered loans, by loan portfolio type, is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
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 | 1,523 | (649 | ) | 286 | 315 | — | 1,475 | ||||||||||||||||||||||||||||||||||||||||||
(Decrease) Increase in FDIC loss share receivable | (28,238 | ) | (5,032 | ) | (4,896 | ) | (17,919 | ) | — | (56,085 | ) | ||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (19,634 | ) | (314 | ) | (7,067 | ) | (26 | ) | — | (27,041 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (15,764 | ) | — | — | — | — | (15,764 | ) | |||||||||||||||||||||||||||||||||||||||||
Recoveries | 14 | — | — | — | — | 14 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 38,772 | $ | 5,380 | $ | 10,889 | $ | 16,134 | $ | — | $ | 71,175 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 38,772 | 5,380 | 10,889 | 16,134 | — | 71,175 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 387,332 | $ | 37,025 | $ | 154,025 | $ | 141,411 | $ | — | $ | 719,793 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 387,332 | 37,025 | 154,025 | 141,411 | — | 719,793 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 14,904 | — | 28,223 | 22,950 | — | 66,077 | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
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 | 4,970 | 964 | 323 | 811 | — | 7,068 | |||||||||||||||||||||||||||||||||||||||||||
(Decrease) Increase in FDIC loss share receivable | 51,543 | 3,616 | 13,895 | 15,031 | — | 84,085 | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (11,202 | ) | (2,993 | ) | (11,323 | ) | (825 | ) | — | (26,343 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (13,631 | ) | — | (1,513 | ) | (9 | ) | — | (15,153 | ) | |||||||||||||||||||||||||||||||||||||||
Recoveries | 16 | — | — | 3 | — | 19 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 100,871 | $ | 11,375 | $ | 22,566 | $ | 33,764 | $ | — | $ | 168,576 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 100,871 | 11,375 | 22,566 | 33,764 | — | 168,576 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 640,843 | $ | 87,051 | $ | 187,164 | $ | 177,698 | $ | — | $ | 1,092,756 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 640,843 | 87,051 | 187,164 | 177,698 | — | 1,092,756 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 167,742 | 2,757 | 20,232 | 22,914 | — | 213,645 | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 26,439 | $ | 6,657 | $ | 28,343 | $ | 12,201 | $ | — | $ | 73,640 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 6,762 | 392 | (2,232 | ) | 971 | — | 5,893 | ||||||||||||||||||||||||||||||||||||||||||
(Decrease) Increase in FDIC loss share receivable | 50,079 | 2,899 | (3,045 | ) | 7,188 | — | 57,121 | ||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (13,316 | ) | (160 | ) | (1,962 | ) | (1,705 | ) | — | (17,143 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (1,073 | ) | — | (22 | ) | (42 | ) | — | (1,137 | ) | |||||||||||||||||||||||||||||||||||||||
Recoveries | 284 | — | 102 | 140 | — | 526 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 69,175 | $ | 9,788 | $ | 21,184 | $ | 18,753 | $ | — | $ | 118,900 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 69,175 | 9,788 | 21,184 | 18,753 | — | 118,900 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 772,877 | $ | 108,738 | $ | 255,387 | $ | 197,447 | $ | — | $ | 1,334,449 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 772,877 | 108,738 | 255,387 | 197,447 | — | 1,334,449 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 54,691 | 4,169 | 35,794 | 29,473 | — | 124,127 | |||||||||||||||||||||||||||||||||||||||||||
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 premiums/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 December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Special | Substandard | Doubtful | Total | Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||||||||||||
Mention | Mention | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 370,824 | $ | 9,309 | $ | 2,962 | $ | — | $ | 383,095 | $ | 269,842 | $ | 16,767 | $ | 7,067 | $ | — | $ | 293,676 | |||||||||||||||||||||||||||||
Commercial real estate - other | 2,694,161 | 27,227 | 30,308 | 113 | 2,751,809 | 2,162,989 | 40,547 | 47,710 | 398 | 2,251,644 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 2,866,794 | 6,164 | 32,167 | 926 | 2,906,051 | 2,295,788 | 21,640 | 49,958 | 48 | 2,367,434 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 5,931,779 | $ | 42,700 | $ | 65,437 | $ | 1,039 | 6,040,955 | $ | 4,728,619 | $ | 78,954 | $ | 104,735 | $ | 446 | $ | 4,912,754 | ||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | 30+ Days | Total | Current | 30+ Days | Total | |||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential prime | $ | 286,167 | $ | 11,640 | $ | 297,807 | $ | 185,843 | $ | 10,986 | $ | 196,829 | |||||||||||||||||||||||||||||||||||||
Residential subprime | 114,939 | 1,626 | 116,565 | 60,454 | — | 60,454 | |||||||||||||||||||||||||||||||||||||||||||
Home equity | 1,091,894 | 9,333 | 1,101,227 | 991,766 | 8,872 | 1,000,638 | |||||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 370,388 | 2,995 | 373,383 | 320,148 | 2,818 | 322,966 | |||||||||||||||||||||||||||||||||||||||||||
Credit card | 62,873 | 769 | 63,642 | 51,117 | 605 | 51,722 | |||||||||||||||||||||||||||||||||||||||||||
Consumer - other | 293,693 | 1,049 | 294,742 | 201,161 | 981 | 202,142 | |||||||||||||||||||||||||||||||||||||||||||
$ | 2,219,954 | $ | 27,412 | $ | 2,247,366 | $ | 1,810,489 | $ | 24,262 | $ | 1,834,751 | ||||||||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Special | Substandard | Doubtful | Discount | Total | Pass | Special | Substandard | Doubtful | Discount | Total | |||||||||||||||||||||||||||||||||||||
Mention | Mention | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 21,244 | $ | — | $ | 1,519 | $ | — | $ | (2,532 | ) | $ | 20,231 | $ | 25,896 | $ | 2,410 | $ | 5,228 | $ | — | $ | (3,968 | ) | $ | 29,566 | |||||||||||||||||||||||
Commercial real estate - other | 350,412 | 5,096 | 21,413 | 93 | (52,176 | ) | 324,838 | 359,046 | 28,185 | 85,420 | 218 | (57,055 | ) | 415,814 | |||||||||||||||||||||||||||||||||||
Commercial business | 53,533 | 517 | 1,901 | — | (2,914 | ) | 53,037 | 86,201 | 2,159 | 4,808 | 2,209 | (12,144 | ) | 83,233 | |||||||||||||||||||||||||||||||||||
Total | $ | 425,189 | $ | 5,613 | $ | 24,833 | $ | 93 | $ | (57,622 | ) | $ | 398,106 | $ | 471,143 | $ | 32,754 | $ | 95,456 | $ | 2,427 | $ | (73,167 | ) | $ | 528,613 | |||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 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 | $ | 18,796 | $ | 226 | $ | (887 | ) | $ | 18,135 | $ | 30,663 | $ | 779 | $ | 1,315 | $ | 32,757 | ||||||||||||||||||||||||||||||||
Home equity | 53,995 | 5,071 | (5,623 | ) | 53,443 | 73,658 | 7,115 | (4,498 | ) | 76,275 | |||||||||||||||||||||||||||||||||||||||
Indirect automobile | 1,725 | 128 | — | 1,853 | 4,698 | 321 | — | 5,019 | |||||||||||||||||||||||||||||||||||||||||
Consumer - other | 12,598 | 1,251 | (1,481 | ) | 12,368 | 21,746 | 714 | (6,805 | ) | 15,655 | |||||||||||||||||||||||||||||||||||||||
$ | 87,114 | $ | 6,676 | $ | (7,991 | ) | $ | 85,799 | $ | 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 premiums/discounts, at December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||||||||||||||
The Company’s investment in covered loans by credit quality indicator is presented in the following table. Loan premiums/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 | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Special | Substandard | Doubtful | Total | Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||||||||||||
Mention | Mention | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 42,886 | $ | 7,401 | $ | 23,891 | $ | 497 | $ | 74,675 | $ | 46,201 | $ | 9,888 | $ | 97,315 | $ | 607 | $ | 154,011 | |||||||||||||||||||||||||||||
Commercial real estate - other | 148,579 | 49,699 | 144,680 | 3,267 | 346,225 | 201,261 | 65,498 | 279,171 | 8,530 | 554,460 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 30,710 | 780 | 14,556 | 984 | 47,030 | 38,552 | 8,600 | 50,018 | 451 | 97,621 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 222,175 | $ | 57,880 | $ | 183,127 | $ | 4,748 | $ | 467,930 | $ | 286,014 | $ | 83,986 | $ | 426,504 | $ | 9,588 | $ | 806,092 | |||||||||||||||||||||||||||||
Discount | (43,573 | ) | (78,198 | ) | |||||||||||||||||||||||||||||||||||||||||||||
$ | 424,357 | $ | 727,894 | ||||||||||||||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 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 | $ | 158,710 | $ | 30,814 | $ | (35,499 | ) | $ | 154,025 | $ | 183,795 | $ | 52,379 | $ | (49,010 | ) | $ | 187,164 | |||||||||||||||||||||||||||||||
Home equity | 143,236 | 35,811 | (41,925 | ) | 137,122 | 168,729 | 65,997 | (60,514 | ) | 174,212 | |||||||||||||||||||||||||||||||||||||||
Credit card | 648 | 31 | — | 679 | 841 | 65 | — | 906 | |||||||||||||||||||||||||||||||||||||||||
Consumer - other | 591 | 144 | 2,875 | 3,610 | 1,154 | 1,523 | (97 | ) | 2,580 | ||||||||||||||||||||||||||||||||||||||||
$ | 303,185 | $ | 66,800 | $ | (74,549 | ) | $ | 295,436 | $ | 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. | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 8,567 | $ | 8,567 | $ | — | $ | 10,443 | $ | 43 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 13,256 | 13,256 | — | 11,074 | 170 | ||||||||||||||||||||||||||||||||||||||||||||
Home equity | 258 | 258 | — | 281 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 1,268 | 1,284 | (16 | ) | 4,414 | 8 | |||||||||||||||||||||||||||||||||||||||||||
Commercial business | 1,927 | 2,770 | (843 | ) | 2,892 | 100 | |||||||||||||||||||||||||||||||||||||||||||
Residential prime | 9,791 | 10,019 | (228 | ) | 8,096 | 98 | |||||||||||||||||||||||||||||||||||||||||||
Residential subprime | 1,617 | 1,626 | (9 | ) | 1,579 | — | |||||||||||||||||||||||||||||||||||||||||||
Home equity | 6,506 | 6,550 | (44 | ) | 7,593 | 93 | |||||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 1,267 | 1,275 | (8 | ) | 2,090 | 55 | |||||||||||||||||||||||||||||||||||||||||||
Credit card | 404 | 411 | (7 | ) | 418 | — | |||||||||||||||||||||||||||||||||||||||||||
Other | 481 | 485 | (4 | ) | 765 | 19 | |||||||||||||||||||||||||||||||||||||||||||
$ | 45,342 | $ | 46,501 | $ | (1,159 | ) | $ | 49,645 | $ | 587 | |||||||||||||||||||||||||||||||||||||||
Total commercial loans | 25,018 | 25,877 | (859 | ) | 28,823 | 321 | |||||||||||||||||||||||||||||||||||||||||||
Total mortgage loans | 11,408 | 11,645 | (237 | ) | 9,675 | 98 | |||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 8,916 | 8,979 | (63 | ) | 11,147 | 168 | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 26,151 | $ | 26,151 | $ | — | $ | 34,682 | $ | 168 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 1,824 | 1,824 | — | 2,621 | 33 | ||||||||||||||||||||||||||||||||||||||||||||
Home equity | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 3,464 | 3,663 | (199 | ) | 3,678 | 123 | |||||||||||||||||||||||||||||||||||||||||||
Commercial business | 1,334 | 1,810 | (476 | ) | 1,889 | 47 | |||||||||||||||||||||||||||||||||||||||||||
Residential prime | 9,861 | 10,070 | (209 | ) | 7,955 | 131 | |||||||||||||||||||||||||||||||||||||||||||
Residential subprime | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Home equity | 5,860 | 5,951 | (91 | ) | 6,713 | 51 | |||||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 865 | 868 | (3 | ) | 1,514 | 28 | |||||||||||||||||||||||||||||||||||||||||||
Credit card | 413 | 424 | (11 | ) | 372 | — | |||||||||||||||||||||||||||||||||||||||||||
Other | 307 | 310 | (3 | ) | 601 | 5 | |||||||||||||||||||||||||||||||||||||||||||
$ | 50,079 | $ | 51,071 | $ | (992 | ) | $ | 60,025 | $ | 586 | |||||||||||||||||||||||||||||||||||||||
Total commercial loans | 32,773 | 33,448 | (675 | ) | 42,870 | 371 | |||||||||||||||||||||||||||||||||||||||||||
Total mortgage loans | 9,861 | 10,070 | (209 | ) | 7,955 | 131 | |||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 7,445 | 7,553 | (108 | ) | 9,200 | 84 | |||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 and 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 | 12 Months Ended | ||||||||
Dec. 31, 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, deposits, and other liabilities of Orion and Century. In 2010, the Company acquired certain assets, deposits, 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 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 CSB reimbursable loss period ends during the third quarter of 2014 for all covered assets excluding single family residential assets 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 assets and during the fourth quarter of 2019 for single family residential assets. The Sterling reimbursable loss period ends during the third quarter of 2015 for all covered assets excluding single family residential assets and during the third quarter of 2020 for single family residential assets. | |||||||||
In addition, all covered assets excluding single family residential assets 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, net of certain expenses, consistent with the covered loss reimbursement rates in effect during the recovery 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 all of these agreements have exceeded the cumulative loss floors that would trigger a clawback payment. However, the sum of the historical and remaining projected losses and recoveries under one agreement is less than the clawback threshold stated in that agreement. The Company has recorded a liability of $797,000 at December 31, 2013 to reserve for the amount of consideration due to the FDIC based on projected net losses. 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 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 receivables year-to-date activity: | |||||||||
December 31, | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Balance at beginning of period | $ | 423,069 | $ | 591,844 | |||||
Change due to (reversal of) loan loss provision recorded on FDIC covered loans | (56,085 | ) | 84,085 | ||||||
Amortization | (97,849 | ) | (118,100 | ) | |||||
Submission of reimbursable losses to the FDIC | (52,586 | ) | (123,986 | ) | |||||
Impairment | (31,813 | ) | — | ||||||
Changes due to a change in cash flow assumptions on OREO and other changes | (22,424 | ) | (10,774 | ) | |||||
Balance at end of period | $ | 162,312 | $ | 423,069 | |||||
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 year ended December 31, 2013, the Company concluded that the $162,312,000 FDIC loss share receivable is fully collectible as of December 31, 2013. See below for discussion of the impairment charge recognized in 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 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. |
Transfers_and_Servicing_of_Fin
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 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) | |||||||||||||||||||||||||
Commercial Banking Activity | |||||||||||||||||||||||||
Loans serviced for others, consisting primarily of commercial loan participations sold, are not included in the accompanying consolidated balance sheets. The unpaid principal balances of loans serviced for others were $345,016,000 and $257,883,000 at December 31, 2013 and 2012, respectively. Custodial escrow balances maintained in connection with the foregoing portfolio of loans serviced for others, and included in demand deposits, were immaterial at December 31, 2013 and 2012. | |||||||||||||||||||||||||
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 government-sponsored enterprises (“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 years ended December 31: | |||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Balance at beginning of period | $ | 267,475 | $ | 153,013 | $ | 83,905 | |||||||||||||||||||
Balance acquired during the period | — | — | 3,385 | ||||||||||||||||||||||
Originations | 2,116,460 | 2,432,367 | 1,659,226 | ||||||||||||||||||||||
Sales | (2,255,493 | ) | (2,317,905 | ) | (1,593,503 | ) | |||||||||||||||||||
Balance at end of period | $ | 128,442 | $ | 267,475 | $ | 153,013 | |||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Fair value changes of derivatives and mortgage loans held for sale, net | $ | (1,722 | ) | $ | 6,772 | $ | 937 | ||||||||||||||||||
Gains on sales | 65,393 | 70,811 | 43,955 | ||||||||||||||||||||||
Servicing and other income, net | 526 | 470 | 285 | ||||||||||||||||||||||
$ | 64,197 | $ | 78,053 | $ | 45,177 | ||||||||||||||||||||
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 as of the periods indicated: | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
(Dollars in thousands) | Carrying Amount | Amortization | Carrying Amount | Carrying Amount | Amortization | Carrying Amount | |||||||||||||||||||
Mortgage servicing rights | $ | 2,146 | $ | (638 | ) | $ | 1,508 | $ | 1,234 | $ | (304 | ) | $ | 930 | |||||||||||
The related amortization expense of mortgage servicing intangible assets is as follows: | |||||||||||||||||||||||||
(Dollars in thousands) | Amount | ||||||||||||||||||||||||
Aggregate amortization expense for the year ended December 31: | |||||||||||||||||||||||||
2011 | $ | 115 | |||||||||||||||||||||||
2012 | 225 | ||||||||||||||||||||||||
2013 | 480 | ||||||||||||||||||||||||
Estimated amortization expense for the year ended December 31: | |||||||||||||||||||||||||
2014 | $ | 473 | |||||||||||||||||||||||
2015 | 382 | ||||||||||||||||||||||||
2016 | 291 | ||||||||||||||||||||||||
2017 | 202 | ||||||||||||||||||||||||
2018 | 123 | ||||||||||||||||||||||||
2019 and thereafter | 37 |
Premises_and_Equipment
Premises and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Premises and Equipment | ' | ||||||||
NOTE 10 – PREMISES AND EQUIPMENT | |||||||||
Premises and equipment at December 31, 2013 and 2012 consisted of the following: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Land | $ | 77,113 | $ | 81,761 | |||||
Buildings | 217,469 | 221,022 | |||||||
Furniture, fixtures and equipment | 110,663 | 101,907 | |||||||
Total premises and equipment | 405,245 | 404,690 | |||||||
Accumulated depreciation | (117,735 | ) | (101,167 | ) | |||||
Total premises and equipment, net | $ | 287,510 | $ | 303,523 | |||||
Depreciation expense was $19,552,000, $18,286,000, and $13,431,000, for the years ended December 31, 2013, 2012, and 2011, respectively. | |||||||||
The Company actively engages in leasing office space available in buildings it owns. Leases have different terms ranging from monthly rental to six-year leases. For the year ended December 31, 2013, income from these leases averaged $122,000 per month. Total lease income for the years ended December 31, 2013, 2012, and 2011 was $1,470,000, $1,572,000, and $1,542,000, respectively. Income from leases is reported as a reduction in occupancy and equipment expense. The total allocated cost of the portion of the buildings held for lease at December 31, 2013 and 2012 was $9,549,000 and $9,992,000, respectively, with related accumulated depreciation of $2,985,000 and $2,497,000, respectively. | |||||||||
The Company leases certain branch and corporate offices, land and ATM facilities through non-cancelable operating leases with terms that range from one to 50 years, with renewal options thereafter. Certain of the leases have escalation clauses and renewal options ranging from monthly renewal to 50 years. Total rent expense for the years ended December 31, 2013, 2012, and 2011 totaled $11,399,000, $10,614,000, and $9,803,000, respectively. | |||||||||
Minimum future annual rent commitments under these agreements for the indicated periods follow: | |||||||||
(Dollars in thousands) | |||||||||
2014 | $ | 11,357 | |||||||
2015 | 10,404 | ||||||||
2016 | 8,925 | ||||||||
2017 | 7,242 | ||||||||
2018 | 6,411 | ||||||||
2019 and thereafter | 36,985 | ||||||||
$ | 81,324 | ||||||||
Goodwill_and_Other_Acquired_In
Goodwill and Other Acquired Intangible Assets | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Goodwill and Other Acquired Intangible Assets | ' | ||||||||||||||||||||||||
NOTE 11 – GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS | |||||||||||||||||||||||||
Goodwill | |||||||||||||||||||||||||
Changes to the carrying amount of goodwill for the years ended December 31, 2013 and 2012 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, December 31, 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, 2013. During 2013, the Company performed a quantitative assessment to evaluate goodwill impairment and allocate goodwill to the operating segments described in Note 26 and detailed in the table below. The Company’s annual impairment test did not indicate impairment in any of the Company’s reporting units as of the testing date, and subsequent to that date, management is not aware of any events or changes in circumstances since the impairment test that would indicate that goodwill might be impaired. | |||||||||||||||||||||||||
At December 31, 2013, goodwill is allocated to the Company’s reportable segments as follows: | |||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
IBERIABANK | $ | 373,905 | |||||||||||||||||||||||
IMC | 23,178 | ||||||||||||||||||||||||
Lenders | 4,789 | ||||||||||||||||||||||||
$ | 401,872 | ||||||||||||||||||||||||
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 both December 31, 2013 and 2012. 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 as of the periods indicated: | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
(Dollars in thousands) | Carrying Amount | Amortization | Carrying Amount | Carrying Amount | Amortization | Carrying Amount | |||||||||||||||||||
Core deposit intangibles | $ | 45,406 | $ | (30,784 | ) | $ | 14,622 | $ | 45,406 | $ | (26,284 | ) | $ | 19,122 | |||||||||||
Customer relationship intangible asset | 1,348 | (631 | ) | 717 | 1,348 | (410 | ) | 938 | |||||||||||||||||
$ | 46,754 | $ | (31,415 | ) | $ | 15,339 | $ | 46,754 | $ | (26,694 | ) | $ | 20,060 | ||||||||||||
The related amortization expense of purchase accounting intangible assets is as follows: | |||||||||||||||||||||||||
(Dollars in thousands) | Amount | ||||||||||||||||||||||||
Aggregate amortization expense for the year ended December 31: | |||||||||||||||||||||||||
2011 | $ | 5,121 | |||||||||||||||||||||||
2012 | 5,150 | ||||||||||||||||||||||||
2013 | 4,720 | ||||||||||||||||||||||||
Estimated amortization expense for the year ended December 31: | |||||||||||||||||||||||||
2014 | $ | 4,346 | |||||||||||||||||||||||
2015 | 3,546 | ||||||||||||||||||||||||
2016 | 3,177 | ||||||||||||||||||||||||
2017 | 1,694 | ||||||||||||||||||||||||
2018 | 1,156 | ||||||||||||||||||||||||
2019 and thereafter | 1,420 |
Other_Real_Estate_Owned
Other Real Estate Owned | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Other Real Estate Owned | ' | ||||||||||||||||||||||||
NOTE 12 – OTHER REAL ESTATE OWNED | |||||||||||||||||||||||||
Other real estate owned, segregated into non-covered and covered properties, consists of the following for the periods indicated. For further discussion of loss share coverage periods applicable to the covered foreclosed assets, see Note 8 to these consolidated financial statements. | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
(Dollars in thousands) | Non-covered | Covered | Total | Non-covered | Covered | Total | |||||||||||||||||||
Real estate owned acquired by foreclosure | $ | 28,072 | $ | 60,474 | $ | 88,546 | $ | 35,080 | $ | 75,784 | $ | 110,864 | |||||||||||||
Real estate acquired for development or resale | 9,206 | — | 9,206 | 9,199 | — | 9,199 | |||||||||||||||||||
Other foreclosed property | 93 | 1,328 | 1,421 | 14 | 1,459 | 1,473 | |||||||||||||||||||
$ | 37,371 | $ | 61,802 | $ | 99,173 | $ | 44,293 | $ | 77,243 | $ | 121,536 | ||||||||||||||
Derivative_Instruments_and_Oth
Derivative Instruments and Other Hedging Activities | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Derivative Instruments and Other Hedging Activities | ' | ||||||||||||||||||||||||||||
NOTE 13 – DERIVATIVE INSTRUMENTS AND OTHER HEDGING ACTIVITIES | |||||||||||||||||||||||||||||
Information pertaining to outstanding derivative instruments is as follows: | |||||||||||||||||||||||||||||
Asset Derivatives Fair Value | Liability Derivatives Fair Value | ||||||||||||||||||||||||||||
(Dollars in thousands) | Balance Sheet | December 31, | December 31, | Balance Sheet | December 31, | December 31, | |||||||||||||||||||||||
Location | 2013 | 2012 | Location | 2013 | 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 | $ | 10,621 | $ | 25,940 | Other liabilities | $ | 10,620 | $ | 25,940 | |||||||||||||||||||
Forward sales contracts | Other assets | 1,468 | 2,774 | Other liabilities | 287 | 343 | |||||||||||||||||||||||
Written and purchased options | Other assets | 17,987 | 12,906 | Other liabilities | 15,828 | 8,764 | |||||||||||||||||||||||
Total derivatives not designated as hedging instruments under ASC Topic 815 | $ | 30,076 | $ | 41,620 | $ | 26,735 | $ | 35,047 | |||||||||||||||||||||
Total derivatives | $ | 30,076 | $ | 42,119 | $ | 26,735 | $ | 36,890 | |||||||||||||||||||||
Asset Derivatives Notional Amount | Liability Derivatives Notional Amount | ||||||||||||||||||||||||||||
(Dollars in thousands) | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 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 | $ | 380,303 | $ | 374,536 | $ | 380,303 | $ | 374,536 | |||||||||||||||||||||
Forward sales contracts | 192,876 | 212,028 | 45,091 | 53,269 | |||||||||||||||||||||||||
Written and purchased options | 295,425 | 388,793 | 199,061 | 185,885 | |||||||||||||||||||||||||
Total derivatives not designated as hedging instruments under ASC Topic 815 | $ | 868,604 | $ | 975,357 | $ | 624,455 | $ | 613,690 | |||||||||||||||||||||
Total derivatives | $ | 868,604 | $ | 1,010,357 | $ | 624,455 | $ | 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 December 31, 2013 and 2012, the Company was required to post $4,976,000 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 December 31, 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. | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Gross Amounts | Gross Amounts Not Offset | ||||||||||||||||||||||||||||
(Dollars in thousands) | Presented in the | in the Balance Sheet | |||||||||||||||||||||||||||
Derivatives subject to master netting arrangements | Balance Sheet | Derivatives | Collateral (1) | Net | |||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 10,621 | — | — | 10,621 | |||||||||||||||||||||||||
Written and purchased options | 15,801 | — | — | 15,801 | |||||||||||||||||||||||||
Total derivative assets subject to master netting arrangements | $ | 26,422 | $ | — | $ | — | $ | 26,422 | |||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 10,620 | — | (5,419 | ) | 5,201 | ||||||||||||||||||||||||
Total derivative liabilities subject to master netting arrangements | $ | 10,620 | $ | — | $ | (5,419 | ) | $ | 5,201 | ||||||||||||||||||||
-1 | Consists of cash collateral recorded at cost, which approximates fair value, and investment securities. | ||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Gross Amounts | Gross Amounts Not Offset | ||||||||||||||||||||||||||||
(Dollars in thousands) | Presented in the | in the Balance Sheet | |||||||||||||||||||||||||||
Derivatives subject to master netting arrangements | Balance Sheet | Derivatives | Collateral (1) | Net | |||||||||||||||||||||||||
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 years ended December 31, 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 December 31, 2013, the fair value of derivatives that will mature within the next twelve months is $506,000. 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. | |||||||||||||||||||||||||||||
At December 31, 2013 and 2012, and for the years then ended, information pertaining to the effect of the hedging instruments on the consolidated financial statements is as follows: | |||||||||||||||||||||||||||||
Amount of | Location of Gain (Loss) | Amount of Gain | Location of Gain (Loss) | Amount of | |||||||||||||||||||||||||
Gain (Loss) | Reclassified from | (Loss) | Recognized in Income on | Gain (Loss) | |||||||||||||||||||||||||
Recognized in | Accumulated OCI into | Reclassified | Derivative (Ineffective | Recognized | |||||||||||||||||||||||||
OCI | Income (Effective Portion) | from | Portion and Amount | in Income | |||||||||||||||||||||||||
net of taxes | Accumulated | Excluded from | on | ||||||||||||||||||||||||||
(Effective | OCI into | (Effectiveness Testing) | Derivative | ||||||||||||||||||||||||||
Portion) | Income | (Ineffective | |||||||||||||||||||||||||||
(Effective | Portion and | ||||||||||||||||||||||||||||
Portion) | Amount | ||||||||||||||||||||||||||||
Excluded | |||||||||||||||||||||||||||||
from | |||||||||||||||||||||||||||||
Effectiveness | |||||||||||||||||||||||||||||
Testing) | |||||||||||||||||||||||||||||
(Dollars in thousands) | As of December 31, | For the Years Ended December 31 | |||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||
Derivatives in ASC Topic 815 Cash Flow Hedging Relationships | |||||||||||||||||||||||||||||
Interest rate contracts | $ | — | $ | (874 | ) | Other income (expense) | $ | (392 | ) | $ | (1,618 | ) | Other income (expense) | $ | 1 | $ | — | ||||||||||||
$ | — | $ | (874 | ) | $ | (392 | ) | $ | (1,618 | ) | $ | 1 | $ | — | |||||||||||||||
(Dollars in thousands) | Location of Gain (Loss) | Amount of Gain (Loss) Recognized in Income | |||||||||||||||||||||||||||
Recognized in Income on | on Derivatives | ||||||||||||||||||||||||||||
Derivatives | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments under ASC Topic 815 | |||||||||||||||||||||||||||||
Interest rate contracts | Other income (expense) | $ | 2,991 | 872 | |||||||||||||||||||||||||
Forward sales contracts | Mortgage Income | (1,716 | ) | 2,431 | |||||||||||||||||||||||||
Written and purchased options | Mortgage Income | (3,032 | ) | 7,119 | |||||||||||||||||||||||||
$ | (1,757 | ) | $ | 10,422 | |||||||||||||||||||||||||
At December 31, 2013 and 2012, additional information pertaining to outstanding interest rate swap agreements is as follows: | |||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||
Weighted average pay rate | 3 | % | 3.3 | % | |||||||||||||||||||||||||
Weighted average receive rate | 0.2 | % | 0.3 | ||||||||||||||||||||||||||
Weighted average maturity in years | 7.6 | 7.1 | |||||||||||||||||||||||||||
Unrealized gain (loss) relating to interest rate swaps | $ | — | $ | (1,344 | ) |
Deposits
Deposits | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Banking And Thrift [Abstract] | ' | ||||||||
Deposits | ' | ||||||||
NOTE 14 – DEPOSITS | |||||||||
Deposits at December 31, 2013 and 2012 are summarized as follows: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Negotiable order of withdrawal (NOW) | $ | 4,859,430 | $ | 4,490,914 | |||||
Money market deposits accounts (MMDA) | 3,779,581 | 3,738,480 | |||||||
Savings deposits | 387,397 | 364,703 | |||||||
Certificates of deposit and other time deposits | 1,710,592 | 2,154,180 | |||||||
$ | 10,737,000 | $ | 10,748,277 | ||||||
Total time deposits summarized by denomination at December 31, 2013 and 2012 are as follows: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Time deposits less than $100,000 | $ | 804,250 | $ | 1,007,665 | |||||
Time deposits greater than $100,000 | 906,342 | 1,146,515 | |||||||
$ | 1,710,592 | $ | 2,154,180 | ||||||
A schedule of maturities of all certificates of deposit as of December 31, 2013 is as follows: | |||||||||
(Dollars in thousands) | |||||||||
Year ending December 31, | |||||||||
2014 | $ | 1,264,077 | |||||||
2015 | 214,924 | ||||||||
2016 | 126,102 | ||||||||
2017 | 36,563 | ||||||||
2018 | 39,330 | ||||||||
2019 and thereafter | 29,596 | ||||||||
$ | 1,710,592 | ||||||||
ShortTerm_Borrowings
Short-Term Borrowings | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
Short-Term Borrowings | ' | ||||||||||||
NOTE 15 – SHORT-TERM BORROWINGS | |||||||||||||
Short-term borrowings at December 31, 2013 and 2012 are summarized as follows: | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||
Federal Home Loan Bank advances | $ | 375,000 | $ | — | |||||||||
Securities sold under agreements to repurchase | 305,344 | 303,045 | |||||||||||
$ | 680,344 | $ | 303,045 | ||||||||||
Securities sold under agreements to repurchase, which are classified as secured borrowings, generally mature daily and are reflected at the amount of cash received in connection with the transaction. The Company may be required to provide additional collateral based on the fair value of the underlying securities. | |||||||||||||
Additional information on the Company’s short-term borrowings for the years indicated is as follows: | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Outstanding at December 31 | $ | 680,344 | $ | 303,045 | $ | 395,543 | |||||||
Maximum month-end outstanding balance | 680,344 | 640,768 | 395,543 | ||||||||||
Average daily outstanding balance | 303,352 | 284,201 | 220,146 | ||||||||||
Average rate during the year | 0.16 | % | 0.22 | % | 0.26 | % | |||||||
Average rate at year end | 0.15 | % | 0.22 | % | 0.27 | % |
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-Term Debt | ' | ||||||||
NOTE 16 – LONG-TERM DEBT | |||||||||
Long-term debt at December 31, 2013 and 2012 is summarized as follows: | |||||||||
(Dollars in thousands) | |||||||||
2013 | 2012 | ||||||||
IBERIABANK: | |||||||||
Federal Home Loan Bank notes, 2.395% to 7.04% | $ | 92,267 | $ | 233,812 | |||||
Notes payable - Investment fund contribution, 7 to 40 year term, 0.50% to 5.00% fixed | 76,570 | 77,703 | |||||||
168,837 | 311,515 | ||||||||
IBERIABANK Corporation: | |||||||||
Statutory Trust I, 3 month LIBOR (1), plus 3.25% | 10,310 | 10,310 | |||||||
Statutory Trust II, 3 month LIBOR (1), plus 3.15% | 10,310 | 10,310 | |||||||
Statutory Trust III, 3 month LIBOR (1), plus 2.00% | 10,310 | 10,310 | |||||||
Statutory Trust IV, 3 month LIBOR (1), plus 1.60% | 15,464 | 15,464 | |||||||
American Horizons Statutory Trust I, 3 month LIBOR (1), plus 3.15% | 6,186 | 6,186 | |||||||
Statutory Trust V, 3 month LIBOR (1), plus 1.435% | 10,310 | 10,310 | |||||||
Statutory Trust VI, 3 month LIBOR (1), plus 2.75% | 12,372 | 12,372 | |||||||
Statutory Trust VII, 3 month LIBOR (1), plus 2.54% | 13,403 | 13,403 | |||||||
Statutory Trust VIII, 3 month LIBOR (1), plus 3.50% | 7,217 | 7,217 | |||||||
OMNI Trust I, 3 month LIBOR (1), plus 3.30% | 8,248 | 8,248 | |||||||
OMNI Trust II, 3 month LIBOR (1), plus 2.79% | 7,732 | 7,732 | |||||||
111,862 | 111,862 | ||||||||
$ | 280,699 | $ | 423,377 | ||||||
-1 | The interest rate on the Company’s long-term debt indexed to LIBOR is based on the 3-month LIBOR rate. The 3-month LIBOR rate was 0.25% and 0.31% at December 31, 2013 and 2012, respectively. | ||||||||
Outstanding FHLB advances are amortized over periods ranging from 6 to 30 years, and have a balloon feature at maturity. Advances are collateralized by a blanket pledge of eligible loans, subject to contractual adjustments which reduce the borrowing base, as well as a secondary pledge of FHLB stock and FHLB demand deposits, the amount of which can exceed the amounts borrowed based on contractually required adjustments. Total additional advances available from the FHLB at December 31, 2013 were $1,780,487,000 under the blanket floating lien and an additional $376,233,000 with a pledge of investment securities. The weighted average advance rate was 3.95% and 4.31% at December 31, 2013 and 2012, respectively. | |||||||||
The Company has various funding arrangements with commercial banks providing up to $155,000,000 in the form of federal funds and other lines of credit. At December 31, 2013, there were no balances outstanding on these lines and all of the funding was available to the Company. | |||||||||
Junior subordinated debt consists of a total of $111,862,000 in Junior Subordinated Deferrable Interest Debentures of the Company issued to statutory trusts that were funded by the issuance of floating rate capital securities of the trusts. Issuances of $10,310,000 each were completed in November 2002, June 2003, September 2004, and June 2007 and an issuance of $15,464,000 was completed in October 2006. The issue of $6,186,000 completed in March 2003 was assumed in the American Horizons acquisition. The Company issued $25,775,000 in November 2007 and $7,217,000 in March 2008 to provide funding for various business activities, primarily loan growth. Issuances of $8,248,000 and $7,732,000 were assumed in the OMNI acquisition during 2011. | |||||||||
The term of the securities is 30 years, and they are callable at par by the Company anytime after 5 years. Interest is payable quarterly and may be deferred at any time at the election of the Company for up to 20 consecutive quarterly periods. During a deferral period, the Company is subject to certain restrictions, including being prohibited from declaring and paying dividends to its common shareholders. | |||||||||
The debentures qualify as Tier 1 Capital and the capital note qualifies as Tier 2 capital for regulatory purposes. | |||||||||
Advances and long-term debt at December 31, 2013 have maturities or call dates in future years as follows: | |||||||||
(Dollars in thousands) | |||||||||
2014 | $ | 10,344 | |||||||
2015 | 1,220 | ||||||||
2016 | 28,863 | ||||||||
2017 | 50,567 | ||||||||
2018 | 7,900 | ||||||||
2019 and thereafter | 181,805 | ||||||||
$ | 280,699 | ||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
NOTE 17 – INCOME TAXES | |||||||||||||
The provision for income tax expense consists of the following for the years ended December 31: | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Current expense | $ | 62,468 | $ | 44,125 | $ | 33,116 | |||||||
Deferred benefit | (35,943 | ) | (7,527 | ) | (11,750 | ) | |||||||
Tax credits | (11,690 | ) | (8,756 | ) | (6,734 | ) | |||||||
Tax benefits attributable to items charged to equity and goodwill | 1,034 | 654 | 2,349 | ||||||||||
$ | 15,869 | $ | 28,496 | $ | 16,981 | ||||||||
There was a balance payable of $7,603,000 and a balance receivable of $7,830,000 for federal and state income taxes at December 31, 2013 and 2012, respectively. The provision for federal income taxes differs from the amount computed by applying the federal income tax statutory rate of 35 percent on income from operations as indicated in the following analysis for the years ended December 31: | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Federal tax based on statutory rate | $ | 28,340 | $ | 36,712 | $ | 24,682 | |||||||
Increase (decrease) resulting from: | |||||||||||||
Effect of tax-exempt income | (7,282 | ) | (7,558 | ) | (6,633 | ) | |||||||
Interest and other nondeductible expenses | 2,007 | 1,847 | 1,487 | ||||||||||
State taxes | 3,237 | 4,938 | 3,034 | ||||||||||
Tax credits | (11,690 | ) | (8,756 | ) | (6,734 | ) | |||||||
Other | 1,257 | 1,313 | 1,145 | ||||||||||
$ | 15,869 | $ | 28,496 | $ | 16,981 | ||||||||
Effective tax rate | 19.6 | % | 27.2 | % | 24.1 | % | |||||||
The net deferred tax asset at December 31, 2013 and net deferred tax liability at December 31, 2012 is as follows: | |||||||||||||
(Dollars in thousands) | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax asset: | |||||||||||||
NOL carryforward | $ | 1,001 | $ | 1,720 | |||||||||
Allowance for credit losses | 85,101 | 78,817 | |||||||||||
Discount on purchased loans | — | 158 | |||||||||||
Deferred compensation | 6,315 | 5,193 | |||||||||||
Unrealized loss on cash flow hedges | — | 471 | |||||||||||
Unrealized loss on available for sale investments | 8,880 | — | |||||||||||
Basis difference in acquired assets | 70,136 | 120,893 | |||||||||||
OREO | 31,943 | 18,467 | |||||||||||
Other | 19,509 | 20,419 | |||||||||||
222,885 | 246,138 | ||||||||||||
Deferred tax liability: | |||||||||||||
Basis difference in acquired assets | (130,426 | ) | (170,860 | ) | |||||||||
Gain on acquisition | (17,693 | ) | (34,358 | ) | |||||||||
FHLB stock | (36 | ) | (19 | ) | |||||||||
Premises and equipment | (10,209 | ) | (13,050 | ) | |||||||||
Acquisition intangibles | (12,113 | ) | (11,267 | ) | |||||||||
Deferred loan costs | (2,915 | ) | (3,405 | ) | |||||||||
Unrealized gain on available for sale investments | — | (13,650 | ) | ||||||||||
Investments acquired | (235 | ) | (224 | ) | |||||||||
Swap gain | (75 | ) | (2 | ) | |||||||||
Other | (11,089 | ) | (14,300 | ) | |||||||||
(184,791 | ) | (261,135 | ) | ||||||||||
$ | 38,094 | $ | (14,997 | ) | |||||||||
Retained earnings at December 31, 2013 and 2012 included approximately $21,864,000 accumulated prior to January 1, 1987 for which no provision for federal income taxes has been made. If this portion of retained earnings is used in the future for any purpose other than to absorb bad debts, it will be added to future taxable income. | |||||||||||||
The Company does not believe it has any unrecognized tax benefits included in its consolidated financial statements. The Company has not had any settlements in the current period with taxing authorities, nor has it recognized tax benefits as a result of a lapse of the applicable statute of limitations. | |||||||||||||
During the years ended December 31, 2013, 2012, and 2011, the Company did not recognize any interest or penalties in its consolidated financial statements, nor has it recorded an accrued liability for interest or penalty payments. |
Shareholders_Equity_and_Other_
Shareholders' Equity and Other Comprehensive Income | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Shareholders' Equity and Other Comprehensive Income | ' | ||||||||||||
NOTE 18 – SHAREHOLDERS’ EQUITY AND OTHER COMPREHENSIVE INCOME | |||||||||||||
Other Comprehensive Income | |||||||||||||
The following is a summary of the tax effects of each component of other comprehensive income for the years ended December 31 for the periods indicated: | |||||||||||||
2013 | |||||||||||||
(Dollars in thousands) | Before | Tax Expense | Net-of-Tax | ||||||||||
Tax | (Benefit) | Amount | |||||||||||
Unrealized loss on securities: | |||||||||||||
Unrealized holding losses arising during the period | $ | (62,095 | ) | $ | 21,733 | $ | (40,362 | ) | |||||
Less: reclassification adjustment for gains included in net income | (2,277 | ) | 797 | (1,480 | ) | ||||||||
Net unrealized losses | (64,372 | ) | 22,530 | (41,842 | ) | ||||||||
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 | $ | 953 | $ | (333 | ) | $ | 620 | ||||||
Less: reclassification adjustment for losses included in net income | 391 | (137 | ) | 254 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | 1,344 | (470 | ) | 874 | |||||||||
Total other comprehensive loss | $ | (63,028 | ) | $ | 22,060 | $ | (40,968 | ) | |||||
2012 | |||||||||||||
(Dollars in thousands) | Before | Tax Expense | Net-of-Tax | ||||||||||
Tax | (Benefit) | Amount | |||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding gains arising during the period | $ | 2,174 | $ | (761 | ) | $ | 1,413 | ||||||
Less: reclassification adjustment for gains included in net income | (3,739 | ) | 1,308 | (2,431 | ) | ||||||||
Net unrealized gains | (1,565 | ) | 547 | (1,018 | ) | ||||||||
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 | $ | (22 | ) | $ | 8 | $ | (14 | ) | |||||
Less: reclassification adjustment for losses included in net income | 1,618 | (566 | ) | 1,052 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | 1,596 | (558 | ) | 1,038 | |||||||||
Total other comprehensive income | $ | 31 | $ | (11 | ) | $ | 20 | ||||||
2011 | |||||||||||||
(Dollars in thousands) | Before | Tax Expense | Net-of-Tax | ||||||||||
Tax | (Benefit) | Amount | |||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding gains arising during the period | $ | 36,328 | $ | (12,715 | ) | $ | 23,613 | ||||||
Other-than-temporary impairment realized in net income | (509 | ) | 178 | (331 | ) | ||||||||
Less: reclassification adjustment for gains included in net income | (3,422 | ) | 1,198 | (2,224 | ) | ||||||||
Net unrealized gains | 32,397 | (11,339 | ) | 21,058 | |||||||||
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 | $ | (19,078 | ) | $ | 6,677 | $ | (12,401 | ) | |||||
Less: reclassification adjustment for losses included in net income | 1,723 | (603 | ) | 1,120 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | (17,355 | ) | 6,074 | (11,281 | ) | ||||||||
Total other comprehensive income | $ | 15,042 | $ | (5,265 | ) | $ | 9,777 | ||||||
Treasury share repurchases | |||||||||||||
Share repurchases may be made from time to time, on the open market or in privately negotiated transactions. Such repurchases are authorized by the Board of Directors through a share repurchase program and are executed at the discretion of the management of the Company. The approved share repurchase program does not obligate the Company to repurchase any dollar amount or number of shares, and the program may be extended, modified, suspended, or discontinued at any time. Stock repurchases generally are affected through open market purchases, and may be made through unsolicited negotiated transactions. The timing of these repurchases will depend on market conditions and other requirements. | |||||||||||||
In October 2011, the Board of Directors authorized the repurchase of up to 900,000 shares of common stock. Purchases are based on the settlement date of the transactions. The average price paid per share includes commissions paid. No shares were repurchased during 2013. There are 46,692 shares available for repurchase at December 31, 2013 pursuant to the publicly announced plan. |
Capital_Requirements_and_Other
Capital Requirements and Other Regulatory Matters | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Capital Requirements and Other Regulatory Matters | ' | ||||||||||||||||||||||||
NOTE 19 – CAPITAL REQUIREMENTS AND OTHER REGULATORY MATTERS | |||||||||||||||||||||||||
The Company and IBERIABANK are subject to various regulatory capital requirements administered by the federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and IBERIABANK must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Prompt corrective action provisions are not applicable to bank holding companies. | |||||||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Company and IBERIABANK to maintain minimum amounts and ratios of total and Tier 1 capital to risk-weighted assets and of Tier 1 capital to average assets. Management believes, as of December 31, 2013 and 2012, that the Company and IBERIABANK met all capital adequacy requirements to which they are subject. | |||||||||||||||||||||||||
As of December 31, 2013, the most recent notification from the Federal Deposit Insurance Corporation categorized IBERIABANK as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, an institution must maintain minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the following table. There are no conditions or events since the notification that management believes have changed that categorization. The Company’s and IBERIABANK’s actual capital amounts and ratios as of December 31, 2013 and 2012 are presented in the following table. | |||||||||||||||||||||||||
(Dollars in thousands) | December 31, 2013 | ||||||||||||||||||||||||
Minimum | Well Capitalized | Actual | |||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
Tier 1 Leverage | |||||||||||||||||||||||||
Consolidated | $ | 507,760 | 4 | % | $ | N/A | N/A | % | $ | 1,231,886 | 9.7 | % | |||||||||||||
IBERIABANK | 505,723 | 4 | 632,154 | 5 | 1,069,783 | 8.46 | |||||||||||||||||||
Tier 1 risk-based capital | |||||||||||||||||||||||||
Consolidated | $ | 426,002 | 4 | % | $ | N/A | N/A | % | $ | 1,231,886 | 11.57 | % | |||||||||||||
IBERIABANK | 424,578 | 4 | 636,868 | 6 | 1,069,783 | 10.08 | |||||||||||||||||||
Total risk-based capital | |||||||||||||||||||||||||
Consolidated | $ | 852,005 | 8 | % | $ | N/A | N/A | % | $ | 1,365,280 | 12.82 | % | |||||||||||||
IBERIABANK | 849,157 | 8 | 1,061,446 | 10 | 1,202,738 | 11.33 | |||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Minimum | Well Capitalized | Actual | |||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
Tier 1 Leverage | |||||||||||||||||||||||||
Consolidated | $ | 488,803 | 4 | % | $ | N/A | N/A | % | $ | 1,185,144 | 9.7 | % | |||||||||||||
IBERIABANK | 486,307 | 4 | 607,884 | 5 | 1,041,540 | 8.57 | |||||||||||||||||||
Tier 1 risk-based capital | |||||||||||||||||||||||||
Consolidated | $ | 366,792 | 4 | % | $ | N/A | N/A | % | $ | 1,185,144 | 12.92 | % | |||||||||||||
IBERIABANK | 365,230 | 4 | 547,845 | 6 | 1,041,540 | 11.41 | |||||||||||||||||||
Total risk-based capital | |||||||||||||||||||||||||
Consolidated | $ | 733,583 | 8 | % | $ | N/A | N/A | % | $ | 1,301,498 | 14.19 | % | |||||||||||||
IBERIABANK | 730,461 | 8 | 913,076 | 10 | 1,157,412 | 12.68 | |||||||||||||||||||
ShareBased_Compensation
Share-Based Compensation | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||
Share-Based Compensation | ' | ||||||||||||||||||
NOTE 20 – 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 years ended December 31, 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 December 31, 2013, future option or restricted stock awards of 504,027 shares could be made under approved incentive compensation plans. | |||||||||||||||||||
The following table represents the compensation expense that is included in non-interest expense and related income tax benefits in the accompanying consolidated statements of comprehensive income related to stock options for the years ended December 31 of the periods indicated: | |||||||||||||||||||
(Dollars in thousands, except per share data) | 2013 | 2012 | 2011 | ||||||||||||||||
Compensation expense related to stock options | $ | 2,110 | $ | 1,873 | $ | 1,343 | |||||||||||||
Income tax benefit related to stock options | 739 | 656 | 470 | ||||||||||||||||
Impact on basic earnings per share | 0.05 | 0.04 | 0.03 | ||||||||||||||||
Impact on diluted earnings per share | 0.05 | 0.04 | 0.03 | ||||||||||||||||
The Company reported $886,000, $1,221,000 and $1,454,000 of excess tax benefits as financing cash inflows during the years ended December 31, 2013, 2012, and 2011, respectively, related to the exercise and vesting of stock options. Net cash proceeds from the exercise of stock options were $8,101,000, $2,813,000 and $6,807,000 for the years ended December 31, 2013, 2012, and 2011, 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 years ended December 31st: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Expected dividends | 2.6 | % | 2.7 | % | 2.4 | % | |||||||||||||
Expected volatility | 34.8 | % | 40.1 | % | 35.5 | % | |||||||||||||
Risk-free interest rate | 1.7 | % | 0.8 | % | 1.5 | % | |||||||||||||
Expected term (in years) | 8.6 | 5 | 4 | ||||||||||||||||
Weighted-average grant-date fair value | $ | 15.37 | $ | 14.5 | $ | 12.83 | |||||||||||||
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 December 31, 2013, there was $3,963,000 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 shares | Weighted Average | Weighted Average | |||||||||||||||||
Exercise Price | Remaining Contract Life | ||||||||||||||||||
Outstanding options, December 31, 2010 | 1,301,539 | $ | 45.52 | ||||||||||||||||
Granted | 55,121 | 55.15 | |||||||||||||||||
Issued in connection with acquisition | 41,975 | 72.35 | |||||||||||||||||
Exercised | (264,647 | ) | 30.99 | ||||||||||||||||
Forfeited or expired | (36,368 | ) | 57.51 | ||||||||||||||||
Outstanding options, December 31, 2011 | 1,097,620 | $ | 50.14 | ||||||||||||||||
Granted | 230,665 | 51.69 | |||||||||||||||||
Issued in connection with acquisition | 32,863 | 41.3 | |||||||||||||||||
Exercised | (92,092 | ) | 30.43 | ||||||||||||||||
Forfeited or expired | (32,981 | ) | 56.79 | ||||||||||||||||
Outstanding options, December 31, 2012 | 1,236,075 | $ | 51.48 | ||||||||||||||||
Granted | 75,722 | 52.36 | |||||||||||||||||
Exercised | (200,748 | ) | 40.35 | ||||||||||||||||
Forfeited or expired | (38,220 | ) | 55.87 | ||||||||||||||||
Outstanding options, December 31, 2013 | 1,072,829 | $ | 53.47 | 4.7 Years | |||||||||||||||
Outstanding exercisable at December 31, 2011 | 789,952 | $ | 47.64 | ||||||||||||||||
Outstanding exercisable at December 31, 2012 | 792,444 | 50.05 | |||||||||||||||||
Outstanding exercisable at December 31, 2013 | 707,934 | 53.54 | 3.1 Years | ||||||||||||||||
The following table presents weighted average remaining life as of December 31, 2013 for options outstanding within the stated exercise prices: | |||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||
Exercise Price Range Per Share | Number of | Weighted Average | Weighted Average | Number of | Weighted Average | ||||||||||||||
Options | Exercise Price | Remaining Life | Options | Exercise Price | |||||||||||||||
$26.82 to $45.58 | 72,333 | $ | 42.61 | 1.4 Years | 72,047 | $ | 42.61 | ||||||||||||
$45.59 to $48.35 | 150,564 | 46.91 | 1.6 Years | 140,696 | 46.91 | ||||||||||||||
$48.36 to $51.69 | 173,624 | 50.15 | 5.1 Years | 91,673 | 49.46 | ||||||||||||||
$51.70 to $55.42 | 275,968 | 53 | 7.7 Years | 90,084 | 53.91 | ||||||||||||||
$55.43 to $58.34 | 202,415 | 56.97 | 3.9 Years | 158,166 | 57.19 | ||||||||||||||
$58.35 to $111.71 | 197,925 | 62.42 | 4.3 Years | 155,268 | 63.09 | ||||||||||||||
Total options | 1,072,829 | $ | 53.47 | 4.7 Years | 707,934 | $ | 53.54 | ||||||||||||
At December 31, 2013, the aggregate intrinsic value of shares underlying outstanding stock options and underlying exercisable stock options was $10,574,000 and $7,105,000. Total intrinsic value of options exercised was $2,740,000, $1,765,000 and $6,783,000 for the years ended December 31, 2013, 2012, and 2011, 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 December 31, 2013, unearned share-based compensation associated with these awards totaled $21,054,000. | |||||||||||||||||||
The following table represents the compensation expense that was included in non-interest expense in the accompanying consolidated statements of comprehensive income related to restricted stock grants for the years ended December 31st: | |||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||
Compensation expense related to restricted stock | $ | 8,593 | $ | 8,035 | $ | 7,258 | |||||||||||||
The following table represents unvested restricted stock award activity for the years ended December 31: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Balance at beginning of period | 538,202 | 512,112 | 539,195 | ||||||||||||||||
Granted | 167,095 | 176,669 | 139,509 | ||||||||||||||||
Forfeited | (28,713 | ) | (13,164 | ) | (35,823 | ) | |||||||||||||
Earned and issued | (152,828 | ) | (137,415 | ) | (130,769 | ) | |||||||||||||
Balance at end of period | 523,756 | 538,202 | 512,112 | ||||||||||||||||
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 periods indicated and the current market price of the Company’s stock at that time. | |||||||||||||||||||
For the Year Ended December 31, | |||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||
Compensation expense related to phantom stock | $ | 4,855 | $ | 2,185 | $ | 1,368 | |||||||||||||
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, 2010 | 119,194 | 3,741 | 122,935 | $ | 7,269,000 | ||||||||||||||
Granted | 131,099 | 6,152 | 137,251 | 6,766,000 | |||||||||||||||
Forfeited share equivalents | (5,917 | ) | (179 | ) | (6,096 | ) | 301,000 | ||||||||||||
Vested share equivalents | (11,455 | ) | (772 | ) | (12,227 | ) | 622,000 | ||||||||||||
Balance, December 31, 2011 | 232,921 | 8,942 | 241,863 | $ | 11,924,000 | ||||||||||||||
Granted | 119,038 | 9,152 | 128,190 | 6,297,000 | |||||||||||||||
Forfeited share equivalents | (10,949 | ) | (367 | ) | (11,316 | ) | 556,000 | ||||||||||||
Vested share equivalents | (22,281 | ) | (1,692 | ) | (23,973 | ) | 1,180,000 | ||||||||||||
Balance, December 31, 2012 | 318,729 | 16,035 | 334,764 | $ | 16,444,000 | ||||||||||||||
Granted | 169,662 | 11,189 | 180,851 | 11,366,000 | |||||||||||||||
Forfeited share equivalents | (18,975 | ) | (785 | ) | (19,760 | ) | 1,242,000 | ||||||||||||
Vested share equivalents | (52,178 | ) | (4,088 | ) | (56,266 | ) | 2,922,000 | ||||||||||||
Balance, December 31, 2013 | 417,238 | 22,351 | 439,589 | $ | 27,628,000 | ||||||||||||||
-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 $62.85, $49.12, and $49.30 on December 31, 2013, 2012, and 2011, respectively. | ||||||||||||||||||
401(k) defined contribution plan | |||||||||||||||||||
The Company has a 401(k) Profit Sharing Plan covering substantially all of its employees. Annual employer contributions to the plan are set by the Board of Directors. The Company made contributions of $1,345,000, $1,305,000, and $1,177,000 for the years ended December 31, 2013, 2012, and 2011, respectively. The Plan provides, among other things, that participants in the Plan be able to direct the investment of their account balances within the Profit Sharing Plan into alternative investment funds. Participant deferrals under the salary reduction election may be matched by the employer based on a percentage to be determined annually by the employer. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and Contingencies | ' | ||||||||
NOTE 21 – 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 December 31, 2013, the fair value of guarantees under commercial and standby letters of credit was $1,050,000. 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. | |||||||||
At December 31, 2013 and 2012, the Company had the following financial instruments outstanding, whose contract amounts represent credit risk: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Commitments to grant loans | $ | 221,627 | $ | 192,295 | |||||
Unfunded commitments under lines of credit | 3,326,448 | 2,372,971 | |||||||
Commercial and standby letters of credit | 105,026 | 62,207 | |||||||
Reserve for unfunded lending commitments | 11,147 | — | |||||||
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 and $725,000. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
NOTE 22 – RELATED PARTY TRANSACTIONS | |
In the ordinary course of business, the Company has granted loans to executive officers and directors and their affiliates amounting to $101,000 and $750,000 at December 31, 2013 and 2012, respectively. During the years ended December 31, 2013, 2012, and 2011, total principal additions were $41,000, $252,000, and $931,000, respectively. Total principal payments were $690,000, $883,000, and $317,000 for the years ended December 31, 2013, 2012, and 2011, respectively. Unfunded commitments to executive officers and directors and their affiliates totaled $37,000 and $390,000 at December 31, 2013 and 2012, respectively. None of the related party loans were classified as nonaccrual, past due, restructured or potential problem loans at December 31, 2013 or 2012. | |
Deposits from related parties held by the Company through IBERIABANK at December 31, 2013 and 2012 amounted to $5,920,000 and $6,155,000, respectively. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
NOTE 23 – FAIR VALUE MEASUREMENTS | |||||||||||||||||
Fair value option | |||||||||||||||||
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. | |||||||||||||||||
Beginning in 2013, the Company has elected the fair value option for certain residential mortgage loans held for sale originated on or after December 2, 2013, which allows for a more effective offset of the changes in fair values of the loans and the derivative instruments used to hedge them without the burden of complying with the requirements for hedge accounting. | |||||||||||||||||
The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for mortgage loans held for sale measured at fair value: | |||||||||||||||||
(Dollars in thousands) | December 31, 2013 | ||||||||||||||||
Aggregate | Aggregate | Aggregate Fair Value | |||||||||||||||
Fair Value | Unpaid Principal | Less Unpaid Principal | |||||||||||||||
Mortgage loans held for sale, at fair value | $ | 97,273 | $ | 96,875 | $ | 398 | |||||||||||
Interest income on mortgage loans held for sale is recognized based on contractual rates and is reflected in interest income on loans held for sale in the consolidated statements of comprehensive income. Net gains (losses) resulting from the change in fair value of these loans that were recorded in mortgage income in the consolidated statement of comprehensive income for the year ended December 31, 2013 totaled $398,000. The changes in fair value are mostly offset by economic hedging activities, with an immaterial portion of these changes attributable to changes in instrument-specific credit risk. | |||||||||||||||||
Items measured at fair value on a 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) | December 31, 2013 | ||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||
Assets | |||||||||||||||||
Available for sale securities | $ | 15,496 | $ | 1,921,301 | $ | — | $ | 1,936,797 | |||||||||
Mortgage loans held for sale | — | 97,273 | — | 97,273 | |||||||||||||
Derivative instruments | — | 30,076 | — | 30,076 | |||||||||||||
Total | $ | 15,496 | $ | 2,048,650 | $ | — | $ | 2,064,146 | |||||||||
Liabilities | |||||||||||||||||
Derivative instruments | — | 26,735 | — | 26,735 | |||||||||||||
Total | $ | — | $ | 26,735 | $ | — | $ | 26,735 | |||||||||
31-Dec-12 | |||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||
Assets | |||||||||||||||||
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 $15,496,000 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 December 31, 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) during 2013 related to assets and liabilities measured at fair value on a recurring basis are reported in non-interest 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) | $ | (2,862 | ) | $ | — | ||||||||||||
Change in unrealized gains (losses) relating to assets still held at December 31, 2013 | — | (40,968 | ) | ||||||||||||||
Items measured at fair value on a non-recurring 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. | |||||||||||||||||
(Dollars in thousands) | December 31, 2013 | ||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||
Assets | |||||||||||||||||
Loans | $ | — | $ | 3,070 | $ | — | $ | 3,070 | |||||||||
Mortgage loans held for sale | — | 11,876 | — | 11,876 | |||||||||||||
OREO | — | 14,598 | — | 14,598 | |||||||||||||
Total | $ | — | $ | 29,544 | $ | — | $ | 29,544 | |||||||||
(Dollars in thousands) | 31-Dec-12 | ||||||||||||||||
(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 certain 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 $4,099,000 and $7,269,000 were recorded at their fair value at December 31, 2013 and 2012, respectively. These loans include a reserve of $1,029,000 and $880,000 included in the Company’s allowance for credit losses at December 31, 2013 and 2012, respectively. | |||||||||||||||||
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 notified customers of these branches and 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 non-interest expense of $4,941,000 in its consolidated statement of comprehensive income for the year ended December 31, 2013. After the impairment loss, the carrying value of the branches was $5,131,000 and is included in OREO (as real estate acquired for development or resale) on the Company’s consolidated balance sheet at December 31, 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 years ended December 31, 2013 and 2012. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||
NOTE 24 – 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 December 31, 2013 and 2012, weighted for varying maturity dates. Other non-covered loans receivable are valued based on present values using entry-value interest rates at December 31, 2013 and 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, a Level 2 measurement. 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 December 31, 2013 and 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 December 31, 2013 and 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: | |||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||
(Dollars in thousands) | Carrying | Fair | Carrying | Fair | |||||||||||||
Amount | Value | Amount | Value | ||||||||||||||
Financial Assets | |||||||||||||||||
Cash and cash equivalents | $ | 391,396 | $ | 391,396 | $ | 626,517 | $ | 626,517 | |||||||||
Investment securities | 2,090,906 | 2,089,363 | 2,149,990 | 1,956,502 | |||||||||||||
Loans and loans held for sale | 9,620,461 | 9,724,432 | 8,783,011 | 8,800,563 | |||||||||||||
FDIC loss share receivable | 162,312 | 21,918 | 284,471 | 207,222 | |||||||||||||
Derivative instruments | 30,076 | 30,076 | 42,119 | 42,119 | |||||||||||||
Accrued interest receivable | 32,143 | 32,143 | 32,707 | 32,707 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | $ | 10,737,000 | $ | 10,226,573 | $ | 10,686,268 | $ | 10,594,885 | |||||||||
Short-term borrowings | 680,344 | 680,344 | 294,156 | 294,156 | |||||||||||||
Long-term debt | 280,699 | 235,503 | 323,046 | 394,490 | |||||||||||||
Derivative instruments | 26,735 | 26,735 | 36,890 | 36,890 | |||||||||||||
Accrued interest payable | 6,102 | 6,102 | 6,421 | 6,421 | |||||||||||||
The fair value estimates presented herein are based upon pertinent information available to management as of December 31, 2013 and 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. |
Restrictions_on_Dividends_Loan
Restrictions on Dividends, Loans and Advances | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Restrictions on Dividends, Loans and Advances | ' |
NOTE 25 – RESTRICTIONS ON DIVIDENDS, LOANS AND ADVANCES | |
IBERIABANK is restricted under applicable laws in the payment of dividends to an amount equal to current year earnings plus undistributed earnings for the immediately preceding year, unless prior permission is received from the Commissioner of Financial Institutions for the State of Louisiana. Dividends payable by IBERIABANK in 2014 without permission will be limited to 2014 earnings plus an additional $23,580,000. | |
Funds available for loans or advances by IBERIABANK to the Company amounted to $122,401,000. In addition, any dividends that may be paid by IBERIABANK to the Company would be prohibited if the effect thereof would cause IBERIABANK’s capital to be reduced below applicable minimum capital requirements. | |
During any deferral period under the Company’s junior subordinated debt, the Company would be prohibited from declaring and paying dividends to common shareholders. See Note 16 to the consolidated financial statements for additional information. |
Business_Segments
Business Segments | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Business Segments | ' | ||||||||||||||||
NOTE 26 – BUSINESS SEGMENTS | |||||||||||||||||
Each of the Company’s reportable operating segments is a business unit that serves the specific needs of the Company’s customers based on the products and services it offers. The reportable segments are based upon those revenue-producing components for which separate financial information is produced internally and are subject to evaluation by the chief operating decision maker in deciding how to allocate resources to segments. The Company reports the results of its operations through three business segments: IBERIABANK, IMC, and Lenders. | |||||||||||||||||
The IBERIABANK segment represents the Company’s commercial and retail banking functions including its lending, investment, and deposit activities. IBERIABANK also includes the Company’s wealth management, capital markets, trust, and other corporate functions that are not specifically related to a strategic business unit. The IMC segment represents the Company’s origination, funding and subsequent sale of one-to-four family residential mortgage loans. The Lenders segment represents the Company’s title insurance and loan closing services. Certain expenses not directly attributable to a specific reportable segment are allocated to segments based on pre-determined means that reflect utilization. | |||||||||||||||||
Also within IBERIABANK are certain reconciling items in order to translate reportable segment results into consolidated results. The following tables present certain information regarding our operations by reportable segment, including a reconciliation of segment results to reported consolidated results for the periods presented. Reconciling items between segment results and reported results include: | |||||||||||||||||
• | Elimination of interest income and interest expense representing interest earned by IBERIABANK on interest-bearing checking accounts held by related companies, as well as the elimination of the related deposit balances at the IBERIABANK segment | ||||||||||||||||
• | Elimination of investment in subsidiary balances on certain operating segments included in total and average segment assets | ||||||||||||||||
• | Elimination of intercompany due to and due from balances on certain operating segments that are included in total and average segment assets. | ||||||||||||||||
IBERIABANK is considered a reportable segment based on the quantitative thresholds specified within ASC Topic 280, Segment Reporting (“ASC 280”). The Company’s IMC and Lenders segments do not meet the quantitative thresholds specified by ASC 280 and are reported because management believes information about those segments is useful to users of the financial statements. The Company’s wealth management, capital markets, and trust operating segments are aggregated within the IBERIABANK reportable operating segment because they do not meet the thresholds specified by ASC 280 based on the qualitative factors presented within ASC 280. | |||||||||||||||||
(Dollars in thousands) | Year Ended December 31, 2013 | ||||||||||||||||
IBERIABANK | IMC | Lenders | Consolidated | ||||||||||||||
Interest income | $ | 431,418 | $ | 5,747 | $ | 32 | $ | 437,197 | |||||||||
Interest expense | 45,150 | 1,803 | — | 46,953 | |||||||||||||
Net interest income | 386,268 | 3,944 | 32 | 390,244 | |||||||||||||
Provision for loan losses | 5,123 | 22 | — | 5,145 | |||||||||||||
Mortgage income | 2 | 64,195 | — | 64,197 | |||||||||||||
Title income | — | — | 20,526 | 20,526 | |||||||||||||
Other non-interest income | 84,243 | (10 | ) | 2 | 84,235 | ||||||||||||
Core deposit intangible amortization | 4,499 | — | — | 4,499 | |||||||||||||
Allocated expenses | (7,453 | ) | 5,417 | 2,036 | — | ||||||||||||
Other non-interest expenses | 402,170 | 49,723 | 16,693 | 468,586 | |||||||||||||
Income before income taxes | 66,174 | $ | 12,967 | $ | 1,831 | $ | 80,972 | ||||||||||
Income tax provision (benefit) | 10,035 | 5,093 | 741 | 15,869 | |||||||||||||
Net income (loss) | $ | 56,139 | $ | 7,874 | $ | 1,090 | $ | 65,103 | |||||||||
Total loans and loans held for sale | $ | 9,472,908 | $ | 147,553 | $ | — | $ | 9,620,461 | |||||||||
Total assets | 13,168,162 | 173,131 | 24,257 | 13,365,550 | |||||||||||||
Total deposits | 10,735,030 | 2,970 | (1,000 | ) | 10,737,000 | ||||||||||||
Average assets | 12,795,123 | 183,513 | 25,352 | 13,003,988 | |||||||||||||
(Dollars in thousands) | Year Ended December 31, 2012 | ||||||||||||||||
IBERIABANK | IMC | Lenders | Consolidated | ||||||||||||||
Interest income | $ | 439,245 | $ | 5,858 | $ | 97 | $ | 445,200 | |||||||||
Interest expense | 61,349 | 2,101 | — | 63,450 | |||||||||||||
Net interest income | 377,896 | 3,757 | 97 | 381,750 | |||||||||||||
Provision for loan losses | 20,550 | 121 | — | 20,671 | |||||||||||||
Mortgage income | 6 | 78,047 | — | 78,053 | |||||||||||||
Title income | — | — | 20,987 | 20,987 | |||||||||||||
Other non-interest income | 76,967 | (10 | ) | — | 76,957 | ||||||||||||
Core deposit intangible amortization | 4,900 | — | — | 4,900 | |||||||||||||
Allocated expenses | (3,282 | ) | 2,340 | 942 | — | ||||||||||||
Other non-interest expenses | 361,428 | 49,084 | 16,773 | 427,285 | |||||||||||||
Income before income taxes | 71,273 | 30,249 | 3,369 | 104,891 | |||||||||||||
Income tax provision (benefit) | 15,192 | 11,871 | 1,433 | 28,496 | |||||||||||||
Net income (loss) | $ | 56,081 | $ | 18,378 | $ | 1,936 | $ | 76,395 | |||||||||
Total loans and loans held for sale | $ | 8,485,363 | $ | 280,692 | $ | — | $ | 8,766,055 | |||||||||
Total assets | 12,796,811 | 308,152 | 24,715 | 13,129,678 | |||||||||||||
Total deposits | 10,745,528 | 2,749 | — | 10,748,277 | |||||||||||||
Average assets | 11,879,761 | 194,832 | 22,379 | 12,096,972 | |||||||||||||
(Dollars in thousands) | Year Ended December 31, 2011 | ||||||||||||||||
IBERIABANK | IMC | Lenders | Consolidated | ||||||||||||||
Interest income | $ | 416,118 | $ | 3,917 | $ | 292 | $ | 420,327 | |||||||||
Interest expense | 80,861 | 808 | 400 | 82,069 | |||||||||||||
Net interest income | 335,257 | 3,109 | (108 | ) | 338,258 | ||||||||||||
Provision for loan losses | 25,706 | 161 | — | 25,867 | |||||||||||||
Mortgage income | (114 | ) | 45,291 | — | 45,177 | ||||||||||||
Title income | — | — | 18,048 | 18,048 | |||||||||||||
Other non-interest income | 68,631 | 3 | — | 68,634 | |||||||||||||
Core deposit intangible amortization | 4,961 | — | — | 4,961 | |||||||||||||
Allocated expenses | (2,649 | ) | 1,747 | 902 | — | ||||||||||||
Other non-interest expenses | 315,406 | 36,320 | 17,044 | 368,770 | |||||||||||||
Income before income taxes | 60,350 | 10,175 | (6 | ) | 70,519 | ||||||||||||
Income tax provision (benefit) | 12,921 | 3,993 | 67 | 16,981 | |||||||||||||
Net income (loss) | $ | 47,429 | $ | 6,182 | $ | (73 | ) | $ | 53,538 | ||||||||
Total loans and loans held for sale | $ | 7,377,540 | $ | 163,510 | $ | — | $ | 7,541,050 | |||||||||
Total assets | 11,550,594 | 181,261 | 26,073 | 11,757,928 | |||||||||||||
Total deposits | 9,287,929 | 1,079 | 5 | 9,289,013 | |||||||||||||
Average assets | 10,756,795 | 106,773 | 26,622 | 10,890,190 |
Condensed_Parent_Company_Only_
Condensed Parent Company Only Financial Statements | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Condensed Parent Company Only Financial Statements | ' | ||||||||||||
NOTE 27 – CONDENSED PARENT COMPANY ONLY FINANCIAL STATEMENTS | |||||||||||||
Condensed financial statements of IBERIABANK Corporation (parent company only) are shown below. The parent company has no significant operating activities. | |||||||||||||
Condensed Balance Sheets | |||||||||||||
December 31, 2013 and 2012 | |||||||||||||
(Dollars in thousands) | |||||||||||||
2013 | 2012 | ||||||||||||
Assets | |||||||||||||
Cash in bank | $ | 98,108 | $ | 63,207 | |||||||||
Investment in subsidiaries | 1,487,337 | 1,506,671 | |||||||||||
Other assets | 80,528 | 89,966 | |||||||||||
$ | 1,665,973 | $ | 1,659,844 | ||||||||||
Liabilities and Shareholders’ Equity | |||||||||||||
Liabilities | $ | 134,994 | $ | 129,976 | |||||||||
Shareholders’ Equity | 1,530,979 | 1,529,868 | |||||||||||
$ | 1,665,973 | $ | 1,659,844 | ||||||||||
Condensed Statements of Income | |||||||||||||
Years Ended December 31, 2013, 2012 and 2011 | |||||||||||||
(Dollars in thousands) | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Operating income | |||||||||||||
Dividends from bank subsidiary | $ | 49,000 | $ | 70,000 | $ | — | |||||||
Dividends from non-bank subsidiaries | 1,511 | — | — | ||||||||||
Reimbursement of management expenses | 34,474 | 94,053 | 74,664 | ||||||||||
Other income | 869 | (836 | ) | (1,176 | ) | ||||||||
Total operating income | 85,854 | 163,217 | 73,488 | ||||||||||
Operating expenses | |||||||||||||
Interest expense | 3,232 | 3,427 | 2,101 | ||||||||||
Salaries and employee benefits expense | 29,159 | 76,527 | 63,505 | ||||||||||
Other expenses | 13,676 | 47,309 | 33,546 | ||||||||||
Total operating expenses | 46,067 | 127,263 | 99,152 | ||||||||||
Income (loss) before income tax (expense) benefit and increase in equity in undistributed earnings of subsidiaries | 39,787 | 35,954 | (25,664 | ) | |||||||||
Income tax benefit | (2,808 | ) | (11,842 | ) | (8,219 | ) | |||||||
Income (loss) before equity in undistributed earnings of subsidiaries | 42,595 | 47,796 | (17,445 | ) | |||||||||
Equity in undistributed earnings of subsidiaries | 22,508 | 28,599 | 70,983 | ||||||||||
Net income | $ | 65,103 | $ | 76,395 | $ | 53,538 | |||||||
Condensed Statements of Cash Flows | |||||||||||||
Years Ended December 31, 2013, 2012, and 2011 | |||||||||||||
(Dollars in thousands) | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cash Flow from Operating Activities | |||||||||||||
Net income | $ | 65,103 | $ | 76,395 | $ | 53,538 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||
Depreciation and amortization | 2,035 | 4,926 | 1,071 | ||||||||||
Net income of subsidiaries | (73,019 | ) | (98,599 | ) | (70,983 | ) | |||||||
Noncash compensation expense | 10,703 | 9,907 | 9,114 | ||||||||||
Loss on sale of assets | — | 7 | — | ||||||||||
Derivative losses on swaps | — | 2 | — | ||||||||||
Tax benefit associated with share-based payment arrangements | (886 | ) | (1,221 | ) | (1,454 | ) | |||||||
Other, net | 7,575 | (10,557 | ) | (23,278 | ) | ||||||||
Net Cash Provided by (Used in) Operating Activities | 11,511 | (19,140 | ) | (31,992 | ) | ||||||||
Cash Flow from Investing Activities | |||||||||||||
Cash received in excess of cash paid in acquisition | — | 1,272 | — | ||||||||||
Proceeds from sale of premises and equipment | 11,751 | 5 | 10 | ||||||||||
Purchases of premises and equipment | (5,247 | ) | (4,173 | ) | (3,655 | ) | |||||||
Capital contributed to subsidiary | — | (2,000 | ) | (12,963 | ) | ||||||||
Dividends received from subsidiaries | 50,511 | 70,000 | — | ||||||||||
Acquisition | — | — | — | ||||||||||
Net Cash Provided by (Used In) Investing Activities | 57,015 | 65,104 | (16,608 | ) | |||||||||
Cash Flow from Financing Activities | |||||||||||||
Proceeds from long-term debt | — | — | — | ||||||||||
Repayments of long-term debt | — | (2,867 | ) | (13,500 | ) | ||||||||
Dividends paid to shareholders | (40,332 | ) | (40,069 | ) | (38,558 | ) | |||||||
Proceeds from sale of treasury stock for stock options exercised | 8,101 | 2,813 | 6,807 | ||||||||||
Payments to repurchase common stock | (2,280 | ) | (42,245 | ) | (43,219 | ) | |||||||
Tax benefit associated with share-based payment arrangements | 886 | 1,221 | 1,454 | ||||||||||
Net Cash Used In Financing Activities | (33,625 | ) | (81,147 | ) | (87,016 | ) | |||||||
Net Increase (Decrease) in Cash and Cash Equivalents | 34,901 | (35,183 | ) | (135,616 | ) | ||||||||
Cash and Cash Equivalents at Beginning of Period | 63,207 | 98,390 | 234,006 | ||||||||||
Cash and Cash Equivalents at End of Period | $ | 98,108 | $ | 63,207 | $ | 98,390 | |||||||
Quarterly_Results_of_Operation
Quarterly Results of Operations and Selected Cash Flow Data (Unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Results of Operations and Selected Cash Flow Data (Unaudited) | ' | ||||||||||||||||
NOTE 28 – QUARTERLY RESULTS OF OPERATIONS AND SELECTED CASH FLOW DATA (UNAUDITED) | |||||||||||||||||
2013 | |||||||||||||||||
(Dollars in thousands, except per share data) | Fourth Quarter | Third Quarter | Second Quarter | First Quarter | |||||||||||||
Total interest income | $ | 114,092 | $ | 108,512 | $ | 108,177 | $ | 106,416 | |||||||||
Total interest expense | 10,654 | 11,060 | 11,695 | 13,545 | |||||||||||||
Net interest income | 103,438 | 97,452 | 96,482 | 92,871 | |||||||||||||
Provision for (Reversal of) loan losses | 4,700 | 2,014 | 1,807 | (3,377 | ) | ||||||||||||
Net interest income after provision for loan losses | 98,738 | 95,438 | 94,675 | 96,248 | |||||||||||||
Gain (loss) on sale of investments, net | 19 | 13 | (57 | ) | 2,359 | ||||||||||||
Other noninterest income | 38,696 | 43,250 | 42,546 | 42,132 | |||||||||||||
Noninterest expense | 102,674 | 108,152 | 117,361 | 144,898 | |||||||||||||
Income (loss) before income taxes | 34,779 | 30,549 | 19,803 | (4,159 | ) | ||||||||||||
Income tax expense (benefit) | 9,175 | 7,357 | 4,213 | (4,876 | ) | ||||||||||||
Net income | $ | 25,604 | $ | 23,192 | $ | 15,590 | $ | 717 | |||||||||
Preferred stock dividends | — | — | — | — | |||||||||||||
Income available to common shareholders | 25,604 | 23,192 | 15,590 | 717 | |||||||||||||
Earnings allocated to unvested restricted stock | (456 | ) | (425 | ) | (293 | ) | (20 | ) | |||||||||
Earnings available to common shareholders - Diluted | $ | 25,148 | $ | 22,767 | $ | 15,297 | $ | 697 | |||||||||
Earnings per share - Basic | $ | 0.86 | $ | 0.78 | $ | 0.53 | $ | 0.02 | |||||||||
Earnings per share - Diluted | 0.86 | 0.78 | 0.53 | 0.02 | |||||||||||||
Cash dividends declared per common share | 0.34 | 0.34 | 0.34 | 0.34 | |||||||||||||
2012 | |||||||||||||||||
Fourth Quarter | Third Quarter | Second Quarter | First Quarter | ||||||||||||||
Total interest income | $ | 114,779 | $ | 111,951 | $ | 109,283 | $ | 109,187 | |||||||||
Total interest expense | 14,789 | 15,225 | 16,111 | 17,326 | |||||||||||||
Net interest income | 99,990 | 96,726 | 93,172 | 91,861 | |||||||||||||
Provision for loan losses | 4,866 | 4,053 | 8,895 | 2,857 | |||||||||||||
Net interest income after provision for loan losses | 95,124 | 92,673 | 84,277 | 89,004 | |||||||||||||
Gain (loss) on sale of investments, net | (4 | ) | 41 | 901 | 2,836 | ||||||||||||
Other noninterest income | 50,358 | 46,512 | 40,793 | 34,560 | |||||||||||||
Noninterest expense | 113,441 | 109,848 | 109,022 | 99,873 | |||||||||||||
Income before income taxes | 32,037 | 29,378 | 16,949 | 26,527 | |||||||||||||
Income tax expense | 8,829 | 8,144 | 4,389 | 7,134 | |||||||||||||
Net income | $ | 23,208 | $ | 21,234 | $ | 12,560 | $ | 19,393 | |||||||||
Preferred stock dividends | — | — | — | — | |||||||||||||
Income available to common shareholders | 23,208 | 21,234 | 12,560 | 19,393 | |||||||||||||
Earnings allocated to unvested restricted stock | (428 | ) | (406 | ) | (240 | ) | (364 | ) | |||||||||
Earnings available to common shareholders - Diluted | $ | 22,780 | $ | 20,828 | $ | 12,320 | $ | 19,029 | |||||||||
Earnings per share - Basic | $ | 0.79 | $ | 0.73 | $ | 0.43 | $ | 0.66 | |||||||||
Earnings per share - Diluted | 0.79 | 0.73 | 0.43 | 0.66 | |||||||||||||
Cash dividends declared per common share | 0.34 | 0.34 | 0.34 | 0.34 |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
NOTE 29 – SUBSEQUENT EVENTS | |
Acquisitions | |
Acquisition of Certain Assets and Liabilities of Trust One Bank | |
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 closed on January 17, 2014. | |
Acquisition of Teche Holding Company | |
During the first quarter of 2014, the Company announced the signing of a definitive agreement to acquire Teche Holding Company (“Teche”), the holding company of Teche Federal Bank, a New Iberia, Louisiana-based bank with 20 branch locations servicing south Louisiana. The proposed acquisition of Teche has been approved by the Board of Directors of each company and is expected to close in the second quarter of 2014, subject to customary closing conditions, including the receipt of required regulatory approvals and the approval of Teche’s shareholders. | |
Under terms of the agreement, Teche shareholders will receive 1.162 shares of the Company’s common stock for each of the Teche common stock shares outstanding, subject to certain market price adjustments provided for in the agreement. All unexercised Teche stock options, whether or not vested, will be cashed out and shares of restricted stock will become fully vested in connection with the acquisition. | |
Acquisition of First Private Holdings, Inc. | |
During the first quarter of 2014, the Company announced the signing of a definitive agreement to acquire First Private Holdings, Inc. (“First Private”), the holding company of First Private Bank of Texas, a Dallas, Texas-based bank with two branch locations. The acquisition has been approved by the Board of Directors of each company and is expected to close in the second quarter of 2014, subject to customary closing conditions, including the receipt of required regulatory approvals and the approval of First Private’s shareholders. | |
Under terms of the agreement, First Private shareholders will receive 0.27 shares of the Company’s common stock for each of the First Private common stock shares outstanding, subject to certain market price adjustments provided for in the agreement. All unexercised First Private options and warrants, whether or not vested, will be cashed out. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |||
Dec. 31, 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, L.L.C. (“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. Refer to Note 5 for the Company’s credit risks in its investment securities portfolio. | ||||
Cash and Cash Equivalents | ' | |||
CASH AND CASH EQUIVALENTS | ||||
For purposes of presentation in the consolidated statements of cash flows, cash and cash equivalents are defined as cash, interest-bearing deposits and non-interest-bearing demand deposits at other financial institutions with original maturities less than three months. IBERIABANK may be required to maintain average balances on hand or with the Federal Reserve Bank to meet regulatory reserve and clearing requirements. At December 31, 2013 and 2012, the required reserve balances were $6,709,000 and $2,555,000, respectively. IBERIABANK had enough cash deposited with the Federal Reserve at December 31, 2013 and 2012 to cover the required reserve balance. | ||||
Investment Securities | ' | |||
INVESTMENT SECURITIES | ||||
Debt securities that management has the ability and intent to hold to maturity are classified as held to maturity and carried at cost, adjusted for amortization of premiums and accretion of discounts using methods approximating the interest method. Securities not classified as held to maturity or trading, including equity securities with readily determinable fair values, are classified as available for sale and recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income. Declines in the value of individual held to maturity and available for sale securities below their cost that are other than temporary are included in earnings as realized losses. In estimating other than temporary impairment losses, management considers 1) the length of time and the extent to which the fair value has been less than cost, 2) the financial condition and near-term prospects of the issuer, 3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value, and 4) for debt securities, the recovery of contractual principal and interest. Gains or losses on securities sold are recorded on the trade date, using the specific identification method. | ||||
Loans Held for Sale | ' | |||
LOANS HELD FOR SALE | ||||
Loans held for sale primarily consist of fixed rate single-family residential mortgage loans originated and under contract to be sold in the secondary market. The Company has elected the fair value option for the majority of mortgage loans held for sale (See Note 23). Any other loans held for sale are carried at the lower of cost or estimated fair value. For mortgage loans for which the Company has elected the fair value option, gains and losses are included in mortgage income. For any other loans held for sale, net unrealized losses, if any, are recognized through a valuation allowance that is recorded as a charge to income. See Note 24 for further discussion of the determination of fair value for loans held for sale. In most cases, loans in this category are sold within thirty days and are generally sold with the mortgage servicing rights released. Buyers generally have recourse to return a purchased loan to the Company under limited circumstances. Recourse conditions may include early payment default, breach of representations or warranties, and documentation deficiencies. During 2013 and 2012, an insignificant number of loans were returned to the Company. | ||||
Loans (Excluding Acquired Loans) | ' | |||
LOANS (EXCLUDING ACQUIRED LOANS) | ||||
The Company grants mortgage, commercial and consumer loans to customers. Except for loans acquired, loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at the unpaid principal balances, less the allowance for credit losses and net deferred loan origination fees and unearned discounts. | ||||
Interest income on loans is accrued over the term of the loans based on the principal balance outstanding. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the related loan yield, using the effective interest method. | ||||
The accrual of interest on loans is discontinued at the time the loan is 90 days delinquent unless the credit is well-secured and in process of collection. Mortgage, credit card and other personal loans are typically charged down to net collateral value, less cost to sell, no later than 180 days past due. Past due status is based on the contractual terms of loans. In all cases, loans are placed on nonaccrual status or charged off at an earlier date if collection of principal or interest is considered doubtful. | ||||
The Company’s covered loan portfolio and non-covered loan portfolio, which is delineated between a) non-covered loans, excluding acquired loans and b) acquired loans, are disaggregated into portfolio segments for purposes of determining the allowance for credit losses. The Company’s portfolio segments include commercial real estate, commercial business, mortgage, and consumer. The Company further disaggregates each commercial real estate, mortgage, and consumer portfolio segment into classes for purposes of monitoring and assessing credit quality based on certain risk characteristics. Classes within each commercial real estate portfolio segment include commercial real estate construction, commercial land, owner-occupied commercial, and commercial real estate – other. Classes within each mortgage portfolio segment include mortgage – prime and mortgage – subprime, as well as junior and senior lien mortgages. Classes within each consumer portfolio segment include indirect auto, credit card, home equity, and consumer – other. Each commercial business portfolio segment, including loans to the energy industry, is also considered a class. | ||||
Credit Quality | ||||
The Company utilizes an asset risk classification system in accordance with guidelines established by the Federal Reserve Board as part of its efforts to monitor commercial asset quality. “Special mention” loans are defined as loans where known information about possible credit problems of the borrower cause management to have some doubt as to the ability of these borrowers to comply with the present loan repayment terms and which may result in future disclosure of these loans as nonperforming. For assets with identified credit issues, the Company has two primary classifications for problem assets: “substandard” and “doubtful.” Substandard assets have one or more defined weaknesses and are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful assets have the weaknesses of substandard assets with the additional characteristic that the weaknesses make collection or liquidation in full satisfaction of the loan balance outstanding questionable, which makes probability of loss based on currently existing facts, conditions and values higher. Loans classified as “Pass” do not meet the criteria set forth for special mention, substandard, or doubtful classification and are not considered criticized. Asset risk classifications are periodically reviewed and changed if, in the opinion of management, the risk profile of the customer has changed since the last review of the loan relationship. | ||||
A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Impairment losses are measured on a loan by loan basis for commercial and certain consumer loans based on either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. | ||||
In general, all interest accrued but not collected for loans that are placed on nonaccrual status or charged off is reversed against interest income. The interest on these loans is accounted for on the cash-basis method or cost-recovery method, until the loans qualify for a return to accrual status. Loans are returned to accrual status when all principal and interest amounts contractually due are brought current and future payments are reasonably assured. | ||||
Troubled Debt Restructurings | ||||
During the course of its lending operations, the Company periodically grants concessions to its customers in an attempt to protect as much of its investment as possible and minimize risk of loss. These concessions may include restructuring the terms of a customer loan to alleviate the burden of the customer’s near-term cash requirements. In order to be considered a troubled debt restructuring (“TDR”), the Company must conclude that the restructuring constitutes a concession and the customer is experiencing financial difficulties. The Company defines a concession to the customer as a modification of existing terms for economic or legal reasons that it would otherwise not consider. The concession is either granted through an agreement with the customer or is imposed by a court or law. Concessions include modifying original loan terms to reduce or defer cash payments required as part of the loan agreement, including but not limited to: | ||||
• | a reduction of the stated interest rate for the remaining original life of the debt, | |||
• | extension of the maturity date or dates at a stated interest rate lower than the current market rate for new debt with similar risk characteristics, | |||
• | reduction of the face amount or maturity amount of the debt as stated in the agreement, or | |||
• | reduction of accrued interest receivable on the debt. | |||
In its determination of whether the customer is experiencing financial difficulties, the Company considers numerous indicators, including, but not limited to: | ||||
• | whether the customer is currently in default on its existing loan, or is in an economic position where it is probable the customer will be in default on its loan in the foreseeable future without a modification, | |||
• | whether the customer has declared or is in the process of declaring bankruptcy, | |||
• | whether there is substantial doubt about the customer’s ability to continue as a going concern, | |||
• | whether, based on its projections of the customer’s current capabilities, the Company believes the customer’s future cash flows will be insufficient to service the debt, including interest, in accordance with the contractual terms of the existing agreement for the foreseeable future, and | |||
• | whether, without modification, the customer cannot obtain sufficient funds from other sources at an effective interest rate equal to the current market rate for similar debt for a nontroubled debtor. | |||
If the Company concludes that both a concession has been granted and the concession was granted to a customer experiencing financial difficulties, the Company identifies the loan as a TDR. For purposes of the determination of an allowance for credit losses for TDRs, the Company considers a loss probable on the loan, which is reviewed for specific impairment in accordance with the Company’s allowance for loan loss methodology. If it is determined that losses are probable on such TDRs, either because of delinquency or other credit quality indicator, the Company establishes specific reserves for these loans. For additional information on the Company’s allowance for credit losses, see Note 7 to these consolidated financial statements. | ||||
Acquired Loans and Related FDIC Loss Share Receivable | ' | |||
ACQUIRED LOANS AND RELATED FDIC LOSS SHARE RECEIVABLE | ||||
The Company accounts for its acquisitions under the purchase method, where all identifiable assets acquired, including loans, are recorded at fair value. The fair value of the loans acquired incorporates assumptions regarding credit risk, and as a result credit discounts are included in the determination of fair value. Therefore, an allowance for credit losses is not recorded at the acquisition date. | ||||
Loans acquired are recorded at fair value in accordance with the fair value methodology consistent with the exit price concept and exclusive of the shared-loss agreements with the FDIC from certain of the Company’s acquisitions in 2010 and 2009. The fair value estimates associated with the loans include estimates related to discount rates, expected prepayments and the amount and timing of undiscounted expected principal, interest and other cash flows. At the time of acquisition, the Company estimates the fair value of the acquired loan portfolio by segregating the acquired portfolio into loan pools with similar characteristics, which include: | ||||
• | whether the loan is performing according to contractual terms at the time of acquisition, | |||
• | the loan type based on regulatory reporting guidelines, namely whether the loan was a mortgage, consumer, or commercial loan | |||
• | the nature of collateral, | |||
• | the interest rate type, whether fixed or variable rate, and | |||
• | the loan payment type, primarily whether the loan is amortizing or interest-only. | |||
From these pools, the Company uses certain loan information, including outstanding principal balance, estimated expected losses, weighted average maturity, weighted average term to re-price (if a variable rate loan), weighted average margin, and weighted average interest rate to estimate the expected cash flow for each loan pool. | ||||
Acquired loans are evaluated at acquisition and classified as purchase impaired or purchased non-impaired. Purchased impaired loans reflect credit deterioration since origination to the extent that it is probable at the time of acquisition that the Company will be unable to collect all contractually required payments. For purchased impaired loans, expected cash flows at the acquisition date in excess of the fair value of loans are recorded as interest income over the life of the loans using a level yield method if the timing and amount of future cash flows is reasonably estimable. | ||||
Subsequent to acquisition, the Company performs cash flow re-estimations at least quarterly for each purchased impaired loan and/or loan pool. Increases in estimated cash flows above those expected at acquisition are recognized on a prospective basis as interest income over the remaining life of the pool. Decreases in expected cash flows subsequent to acquisition result in recognition of a provision for credit loss. | ||||
Acquired loans are placed on nonaccrual status when the Company cannot reasonably estimate cash flows on a loan or loan pool. | ||||
Pursuant to an AICPA letter dated December 18, 2009, the AICPA summarized the SEC staff’s view regarding the accounting in subsequent periods for discount accretion associated with loan receivables acquired in a business combination or asset purchase. Regarding the accounting for such loan receivables that, in the absence of further standard setting, the AICPA understands the SEC staff would not object to an accounting policy based on contractual cash flows (ASC Topic 310-20 approach) or an accounting policy based on expected cash flows (ASC 310-30 approach). The Company believes analogizing to ASC Topic 310-30 is the more appropriate option to follow in accounting for the fair value discount. However, in cases where a loan is acquired at a premium or slight discount, the Company believes that the contractual yield approach outlined in ASC Topic 310-20 is the more appropriate approach to apply. | ||||
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. | ||||
Allowance For Credit Losses | ' | |||
ALLOWANCE FOR CREDIT LOSSES | ||||
The allowance for credit losses represents management’s best estimate of probable credit losses inherent in the loan portfolios and off-balance sheet lending commitments at the balance-sheet date. The allowance for credit losses is maintained at a level the Company considers appropriate and is based on quarterly assessments and evaluations of the collectability and historical loss experience, including both industry and Company specific considerations. While management uses the best information available to establish the allowance for credit losses, future adjustments may be necessary if economic conditions differ substantially from the assumptions used in determining the allowance or, if required by regulators, based upon information available to them at the time of their examinations, or if mandated by revisions to, new interpretations of, or issuance of new accounting standards. See Note 7 for an analysis of the Company’s allowance for credit losses by portfolio and portfolio segment, and credit quality information by class. The entire amount of the allowance for credit losses is available to absorb losses on any category or lending-related commitment for non-acquired loans. The allowance related to acquired loans represents management’s best estimate of cumulative impairment as described further in “Acquired Loans”. | ||||
The Company’s strategy for credit risk management includes a combination of conservative exposure limits, which are significantly below legal lending limits and conservative underwriting, documentation and collection standards. The strategy emphasizes geographic, industry, and customer diversification within the Company’s operating footprint, regular credit examinations, and regular management reviews of large credit exposures and loans experiencing credit quality deterioration. | ||||
In the current year, the Company changed its methodology for determining the allowance for credit losses on its non-acquired, non-covered loans. See Note 7 for a discussion of changes in the calculation of its allowance for credit losses. | ||||
Allowance for credit losses discussion below includes discussion specific to loans accounted for under the contractual yield method, referred to as “contractual loans”, and loans accounted for as acquired credit impaired loans. | ||||
Contractual Loans (Excluding Acquired Credit Impaired Loans) | ||||
Contractual loans represent loans accounted for under the contractual yield method. The Company’s contractual loans include loans originated by the Company and acquired loans that are not accounted for as acquired credit impaired loans, typically referred to as legacy loans. Credit losses on contractual loans are charged and recoveries are credited to the allowance for credit losses. Provisions for loan losses are based on the Company’s review of historical industry and Company specific loss experience, and factors that management determines should be considered in estimating probable credit losses. | ||||
Loans identified as impaired are subject to individual quarterly review for probable loss. The Company considers the current value of collateral, credit quality of any guarantees, the guarantor’s liquidity and willingness to cooperate, and other factors when evaluating whether an individual loan is impaired. Other factors may include the industry and geographic location of the borrower, size and financial condition of the borrower, cash flow and leverage of the borrower, and evaluation of the borrower’s management. When individual loans are impaired, allowances are estimated based on management’s assessment of the borrower’s ability to repay the loan given the availability of collateral and other sources of cash flow, including evaluation of available legal options. Allowances for individually impaired loans are estimated based on the present value of expected future cash flows discounted at the loan’s effective interest rate, fair value of the underlying collateral or readily observable secondary market values. Collectability of principal and interest is evaluated in assessing the need for a loss accrual. | ||||
The Company also estimates reserves for collective impairment that reflect an estimated measurement of losses related to loans not subject to individual review as of the balance sheet date. Such loans are grouped in homogenous pools or segments, which are consistent with the segments and classes described above. Embedded loss rates are derived from migration analyses, which track net charge-off experience sustained on loans according to their risk grade, and may be adjusted for Company-specific and/or industry factors. Loss rates are reviewed quarterly and adjusted as management deems necessary based on changing borrower and/or collateral conditions and actual collections and charge-off experience. | ||||
Based on observations made through a qualitative review, management may apply qualitative adjustments to the quantitatively determined loss estimates at a pool and/or portfolio segment level as deemed appropriate. Primary qualitative and environmental factors that may not be directly reflected in quantitative estimates include: | ||||
• | asset quality trends, | |||
• | changes in lending and risk management practices and procedures | |||
• | trends in the nature and volume of the loan portfolio, including the existence and effect of any portfolio concentrations | |||
• | changes in experience and depth of lending staff | |||
• | legal, regulatory and competitive environment | |||
• | national and regional economic trends | |||
• | data availability and applicability | |||
Changes in these factors are considered in determining the directional consistency of changes in the allowance for credit losses. The impact of these factors on the Company’s qualitative assessment of the allowance for credit losses can change from period to period based on management’s assessment of the extent to which these factors are already reflected in historic loss rates. The uncertainty inherent in the estimation process is also considered in evaluating the allowance for credit losses. | ||||
The process used for estimating the allowance for credit losses on the loan portfolio is generally consistent with the process used to estimate the reserve for off-balance sheet lending commitments. | ||||
Acquired Credit Impaired Loans | ||||
Acquired loans represent loans acquired by the Company, which are accounted for in accordance with ASC 310-30. Credit losses incurred subsequent to acquisition are charged to the allowance for credit losses. Recoveries are credited to the allowance for credit losses to the extent the losses were incurred subsequent to acquisition. Recoveries related to credit losses incurred prior to acquisition are reflected as prospective adjustments to yield, which are accreted to income over the remaining life of the associated pool of loans. Provisions for credit losses are based on the Company’s determination of the timing and amount of expected cash flows. Provisions for credit losses associated with loans covered by loss share agreements with the FDIC are partially offset by increases in the FDIC loss share receivable. | ||||
The allowance for credit losses related to acquired loans is based on management’s re-estimation of expected cash flows for each loan pool. An allowance for credit losses is established to the extent that the expected cash flows of a loan pool have decreased since acquisition. | ||||
Off-Balance Sheet Credit Related Financial Instruments | ' | |||
OFF-BALANCE SHEET CREDIT RELATED FINANCIAL INSTRUMENTS | ||||
The Company accounts for its guarantees in accordance with the provisions of ASC Topic 460. In the ordinary course of business, the Company has entered into commitments to extend credit, including commitments under commercial construction arrangements, commercial and home equity lines of credit, credit card arrangements, commercial letters of credit and standby letters of credit. Such financial instruments are recorded when they are funded. | ||||
Derivative Financial Instruments | ' | |||
DERIVATIVE FINANCIAL INSTRUMENTS | ||||
ASC Topic 815 requires that all derivatives be recognized as assets or liabilities in the balance sheet at fair value. The Company may enter into derivative contracts to manage exposure to interest rate risk or to meet the financing and/or investing needs of its customers. | ||||
In the course of its business operations, the Company is exposed to certain risks, including interest rate, liquidity, and credit risk. The Company manages its risks through the use of derivative financial instruments, primarily through management of exposure due to the receipt or payment of future cash amounts based on interest rates. The Company’s derivative financial instruments manage the differences in the timing, amount, and duration of expected cash receipts and payments. | ||||
The primary types of derivatives used by the Company include interest rate swap agreements, forward sales contracts, interest rate lock commitments, and written and purchased options. | ||||
Hedging Activities | ||||
As part of its activities to manage interest rate risk due to interest rate movements from time to time, the Company engages in interest rate swap transactions to manage exposure to interest rate risk through modification of the Company’s net interest sensitivity to levels deemed to be appropriate. The Company utilizes these interest rate swap agreements to convert a portion of its variable-rate debt to a fixed rate (cash flow hedge). Interest rate swaps are contracts in which a series of interest rate flows are exchanged over a prescribed period. The notional amount on which the interest payments are based is not exchanged. | ||||
Because the Company designates the swap agreements used to manage interest rate risk as hedging instruments, which manage exposure to variable cash flows of forecasted transactions, the effective portion of a derivative gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings when the forecasted transaction affects earnings or when the hedge is terminated. The ineffective portion of the gain or loss is reported in earnings immediately. | ||||
In applying hedge accounting for derivatives, the Company establishes a method for assessing the effectiveness of the hedging derivative and a measurement approach for determining the ineffective aspect of the hedge upon the inception of the hedge. These methods are consistent with the Company’s approach to managing risk. At December 31, 2013, there were no hedging relationships designated for hedge accounting purposes. | ||||
Other Derivative Instruments | ||||
Interest rate swap agreements | ||||
In addition to using derivative instruments as an interest rate risk management tool, the Company also enters into derivative instruments to help its commercial customers manage their exposure to interest rate fluctuations. To mitigate the interest rate risk associated with these customer contracts, the Company enters into offsetting derivative contract positions. The Company manages its credit risk, or potential risk of default by its commercial customers, through credit limit approval and monitoring procedures. | ||||
For interest rate swap agreements that are not designated as hedging instruments, changes in the fair value of the derivatives are recognized in earnings immediately. | ||||
Rate lock commitments | ||||
The Company enters into commitments to originate loans intended for sale whereby the interest rate on the prospective loan is determined prior to funding (“rate lock commitments”). A rate lock is given to a borrower, subject to conditional performance obligations, for a specified period of time that typically does not exceed 60 days. Simultaneously with the issuance of the rate lock to the borrower, a rate lock is received from an investor for a best efforts or mandatory delivery of the loan. Under the terms of the best efforts delivery lock, the investor commits to purchase the loan at a specified price, provided the loan is funded and delivered prior to a specified date and provided that the credit and loan characteristics meet pre-established criteria for such loans. Rate lock commitments on mortgage loans that are intended to be sold are considered to be derivatives. Accordingly, such commitments are recorded at fair value as derivative assets or liabilities, with changes in fair value recorded in mortgage income. | ||||
Forward sales contracts | ||||
The Company uses forward sales commitments to protect the value of the mortgage loan pipeline and mortgage loans held for sale from changes in interest rates and pricing between the origination and sale of these loans, as changes in interest rates have the potential to cause a decline in value of the mortgage loans included in the held for sale portfolio. These commitments are considered to be derivatives and are recorded at fair value as derivative assets or liabilities, with changes in fair value recorded in mortgage income. | ||||
Equity-indexed certificates of deposit | ||||
IBERIABANK offers its customers a certificate of deposit that provides the purchaser a guaranteed return of principal at maturity plus potential return, which allows IBERIABANK to identify a known cost of funds. The rate of return is based on the performance of a basket of publically traded stocks that represent a variety of industry segments. Because it is based on an equity index, the rate of return represents an embedded derivative that is not clearly and closely related to the host instrument and is to be accounted for separately. Accordingly, the certificate of deposit is separated into two components: a zero coupon certificate of deposit (the host instrument) and a written option purchased by the depositor (an embedded derivative). The discount on the zero coupon deposit is amortized over the life of the deposit, and the written option is carried at fair value on the Company’s consolidated balance sheet, with changes in fair value recorded through earnings. IBERIABANK offsets the risks of the written option by purchasing an option with terms that mirror the written option and that is also carried at fair value on the Company’s consolidated balance sheet. | ||||
Premises and Equipment | ' | |||
PREMISES AND EQUIPMENT | ||||
Land is carried at cost. Buildings, furniture, fixtures, and equipment are carried at cost, less accumulated depreciation computed on a straight line basis over the estimated useful lives of 10 to 40 years for buildings and 3 to 15 years for furniture, fixtures and equipment. Capitalized leasehold improvements are amortized over the length of the initial lease agreement or their useful life, whichever is shorter. | ||||
Other Real Estate | ' | |||
OTHER REAL ESTATE | ||||
Other real estate includes all real estate, other than bank premises used in bank operations, owned or controlled by the Company, including real estate acquired in settlement of loans. Properties are recorded at the balance of the loan (which is the pro-rata carrying value of loans accounted for in accordance with ASC 310-30) or at estimated fair value less estimated selling costs, whichever is less, at the date acquired. Subsequent to foreclosure, management periodically performs valuations and the assets are carried at the lower of cost or fair value less estimated selling costs. Revenue and expenses from operations, gain or loss on sale and changes in the valuation allowance are included in net expenses from foreclosed assets. | ||||
For further discussion of the Company’s other real estate owned, see Note 12 to the consolidated financial statements. | ||||
Goodwill and Other Intangible Assets | ' | |||
GOODWILL AND OTHER INTANGIBLE ASSETS | ||||
Goodwill | ||||
Goodwill is accounted for in accordance with ASC Topic 350, and accordingly is not amortized but is evaluated at least annually for impairment. As part of its testing, the Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the results of the qualitative assessment indicate impairment, the Company determines the fair value of a reporting unit relative to its carrying amount to determine whether quantitative indicators of impairment are present. When the Company determines that the fair value of the reporting unit is below its carrying amount, the Company determines the fair value of the reporting unit’s assets and liabilities, considering deferred taxes, and then measures impairment loss by comparing the implied fair value of goodwill with the carrying amount of that goodwill. | ||||
Title Plant | ||||
The Company records its title plant assets in accordance with ASC Topic 950. Under ASC Topic 950, costs incurred to construct a title plant, including the costs incurred to obtain, organize, and summarize historical information, are capitalized until the title plant can be used to perform title searches. Purchased title plant, including a purchased undivided interest in title plant, is recorded at cost at the date of acquisition. For title plant acquired separately or as part of a company acquisition, cost is measured as the fair value of the consideration given. Capitalized costs of title plant are not depreciated or charged to income unless circumstances indicate that the carrying amount of the title plant has been impaired. Impairment identifiers include a change in legal requirements or statutory practices, identification of obsolescence, and abandonment of the title plant, among other identifiers. | ||||
Intangible assets subject to amortization | ||||
The Company’s acquired intangible assets that are subject to amortization include core deposit intangibles, amortized on a straight line or accelerated basis over a 10 year average life and a customer relationship intangible asset, amortized on an accelerated basis over a 9.5 year life. | ||||
Transfers of Financial Assets | ' | |||
TRANSFERS OF FINANCIAL ASSETS | ||||
Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when 1) the assets have been isolated from the Company, 2) the transferee obtains the right, free of conditions that constrain it from taking advantage of that right, to pledge or exchange the transferred assets, and 3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Should the transfer not meet these three criteria, the transaction is treated as a secured financing. | ||||
Income Taxes | ' | |||
INCOME TAXES | ||||
The Company and all subsidiaries file a consolidated federal income tax return on a calendar year basis. The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions through IBERIABANK, LTC and their subsidiaries. In lieu of Louisiana state income tax, IBERIABANK is subject to the Louisiana bank shares tax, which is included in non-interest expense or income tax expense in the Company’s consolidated financial statements. With few exceptions, the Company is no longer subject to U.S. federal, state or local income tax examinations for years before 2010. | ||||
Deferred income tax assets and liabilities are determined using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is determined based on the tax effects of the temporary differences between the book and tax bases of the various balance sheet assets and liabilities and gives current recognition to changes in tax rates and laws. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that, based on available evidence, are not expected to be realized. | ||||
The Company recognizes interest and penalties accrued related to unrecognized tax benefits, if applicable, in non-interest expense. | ||||
Stock Compensation Plans | ' | |||
STOCK COMPENSATION PLANS | ||||
The Company issues stock options and restricted stock under various plans to directors, officers and other key employees. The Company accounts for its stock compensation plans in accordance with ASC Topics 718 and 505. Under those provisions, the Company has adopted a fair value based method of accounting for employee stock compensation plans, whereby compensation cost is measured at the grant date based on the value of the award and is recognized on a straight-line basis over the service period, which is usually the vesting period, taking into account retirement eligibility. For service awards with graded vesting, the Company recognizes compensation cost on a straight-line basis. As a result, compensation expense relating to stock options and restricted stock is reflected in net income as part of “Salaries and employee benefits” on the consolidated statements of comprehensive income for employees and “Professional services” for non-employee directors. The Company’s practice has been to grant options at no less than the fair market value of the stock at the grant date. | ||||
See Note 20 for additional information on the Company’s share-based compensation plans. | ||||
Earnings Per Common Share | ' | |||
EARNINGS PER COMMON SHARE | ||||
Basic earnings per share represents income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares, in the form of stock options, had been issued, as well as any adjustment to income that would result from the assumed issuance. Participating common shares issued by the Company relate to unvested outstanding restricted stock awards, the earnings allocated to which are used in determining income available to common shareholders under the two-class method. | ||||
See Note 3 for additional information on the Company’s calculation of earnings per share. | ||||
Treasury Stock | ' | |||
TREASURY STOCK | ||||
The purchase of the Company’s common stock is recorded at cost. At the date of retirement or subsequent reissuance, treasury stock is reduced by the cost of such stock with differences recorded in additional paid-in capital or retained earnings, as applicable. | ||||
Comprehensive Income | ' | |||
COMPREHENSIVE INCOME | ||||
Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities and cash flow hedges, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income. | ||||
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 | ||||
Excluding loans held for sale that are recorded at fair value under the fair value option, mortgage loans originated and held for sale are carried at the lower of cost or estimated fair value. When determining the fair value of loans held for sale, 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 24. | ||||
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 observable 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 December 31, 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 $4,813,000, $6,409,000, and $7,250,000 in earnings for the years ended December 31, 2013, 2012, and 2011, respectively. | ||||
Derivative financial instruments | ||||
The Company enters into commitments to originate loans whereby the interest rate on the prospective loan is determined prior to funding. 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) | 12 Months Ended | ||||||||||||
Dec. 31, 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 Years Ended December 31, | |||||||||||||
(Dollars in thousands, except per share data) | 2013 | 2012 | 2011 | ||||||||||
Income available to common shareholders | $ | 65,103 | $ | 76,395 | $ | 53,538 | |||||||
Distributed earnings to unvested restricted stock | (1,206 | ) | (1,443 | ) | (988 | ) | |||||||
Distributed earnings to common shareholders - basic | 63,897 | 74,952 | 52,550 | ||||||||||
Undistributed earnings reallocated to unvested restricted stock | (3 | ) | 6 | 21 | |||||||||
Distributed and undistributed earnings to common shareholders - diluted | $ | 63,894 | $ | 74,958 | $ | 52,571 | |||||||
Weighted average shares outstanding - basic (1) | 29,605,088 | 29,454,084 | 28,500,420 | ||||||||||
Weighted average shares outstanding - diluted | 29,105,098 | 28,957,696 | 28,141,300 | ||||||||||
Earnings per common share - basic | $ | 2.2 | $ | 2.59 | $ | 1.88 | |||||||
Earnings per common share - diluted | 2.2 | 2.59 | 1.87 | ||||||||||
Earnings per unvested restricted stock share - basic | 2.18 | 2.61 | 2.04 | ||||||||||
Earnings per unvested restricted stock share - diluted | 2.18 | 2.6 | 2 | ||||||||||
-1 | Weighted average basic shares outstanding include 553,016, 552,609, and 484,361 shares of unvested restricted stock for the years ended December 31, 2013, 2012, and 2011, 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 Years Ended December 31, | |||||||||||||
(Dollars in thousands, except per share data) | 2013 | 2012 | 2011 | ||||||||||
Distributed earnings to common shareholders | $ | 39,685 | $ | 39,349 | $ | 38,681 | |||||||
Undistributed earnings to common shareholders | 24,212 | 35,603 | 13,869 | ||||||||||
Total earnings to common shareholders | $ | 63,897 | $ | 74,952 | $ | 52,550 | |||||||
Distributed earnings to unvested restricted stock | $ | 749 | $ | 758 | $ | 727 | |||||||
Undistributed earnings to unvested restricted stock | 457 | 685 | 261 | ||||||||||
Total earnings allocated to unvested restricted stock | $ | 1,206 | $ | 1,443 | $ | 988 | |||||||
Distributed earnings per common share | $ | 1.37 | $ | 1.36 | $ | 1.38 | |||||||
Undistributed earnings per common share | 0.83 | 1.23 | 0.5 | ||||||||||
Total earnings per common share - basic | $ | 2.2 | $ | 2.59 | $ | 1.88 | |||||||
Distributed earnings per unvested restricted stock share | $ | 1.35 | $ | 1.37 | $ | 1.5 | |||||||
Undistributed earnings per unvested restricted stock share | 0.83 | 1.24 | 0.54 | ||||||||||
Total earnings per unvested restricted stock share - basic | $ | 2.18 | $ | 2.61 | $ | 2.04 | |||||||
Disposition_Activity_Tables
Disposition Activity (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||
Schedule of Branch Closure Costs | ' | ||||||||
disposals. The following table shows the costs the Company incurred that are included in its statements of comprehensive income for the years indicated. The Company estimates future exit costs, which would include additional employee termination costs, fixed asset disposals, and lease termination costs, will not be material. | |||||||||
For the Years Ended December 31, | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Employee termination | $ | 299 | $ | 477 | |||||
Accelerated depreciation | 1,033 | 576 | |||||||
Contract termination | 659 | 20 | |||||||
Impairment | 4,941 | 2,743 | |||||||
$ | 6,932 | $ | 3,816 | ||||||
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 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: | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
(Dollars in thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 406,092 | $ | 1,382 | $ | (11,913 | ) | $ | 395,561 | ||||||||||||||||
Obligations of state and political obligations | 105,300 | 2,435 | (256 | ) | 107,479 | ||||||||||||||||||||
Mortgage-backed securities | 1,450,194 | 10,031 | (27,947 | ) | 1,432,278 | ||||||||||||||||||||
Other securities | 1,460 | 19 | — | 1,479 | |||||||||||||||||||||
Total securities available for sale | $ | 1,963,046 | $ | 13,867 | $ | (40,116 | ) | $ | 1,936,797 | ||||||||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 34,478 | $ | 484 | $ | — | $ | 34,962 | |||||||||||||||||
Obligations of state and political obligations | 84,290 | 1,463 | (1,624 | ) | 84,129 | ||||||||||||||||||||
Mortgage-backed securities | 35,341 | 258 | (2,124 | ) | 33,475 | ||||||||||||||||||||
Total securities held to maturity | $ | 154,109 | $ | 2,205 | $ | (3,748 | ) | $ | 152,566 | ||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
(Dollars in thousands) | Cost | 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 Exposure to Investment Security Issuers Exceed Ten Percentage of Shareholders' Equity | ' | ||||||||||||||||||||||||
At December 31, 2013, the Company’s exposure to two investment security issuers individually exceeded 10% of shareholders’ equity: | |||||||||||||||||||||||||
(Dollars in thousands) | Amortized Cost | Market Value | |||||||||||||||||||||||
Federal National Mortgage Association (Fannie Mae) | $ | 1,099,986 | $ | 1,084,466 | |||||||||||||||||||||
Federal Home Loan Mortgage Corporation (Freddie Mac) | 633,222 | 619,101 | |||||||||||||||||||||||
$ | 1,733,208 | $ | 1,703,567 | ||||||||||||||||||||||
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: | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Less Than Twelve Months | Over Twelve Months | Total | |||||||||||||||||||||||
Gross | Estimated | Gross | Estimated | Gross | Estimated | ||||||||||||||||||||
Unrealized | Fair | Unrealized | Fair | Unrealized | Fair | ||||||||||||||||||||
(Dollars in thousands) | Losses | Value | Losses | Value | Losses | Value | |||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | (11,764 | ) | $ | 298,515 | $ | (149 | ) | $ | 5,515 | $ | (11,913 | ) | $ | 304,030 | ||||||||||
Obligations of state and political obligations | (30 | ) | 2,415 | (226 | ) | 1,047 | (256 | ) | 3,462 | ||||||||||||||||
Mortgage-backed securities | (23,749 | ) | 864,899 | (4,198 | ) | 81,870 | (27,947 | ) | 946,769 | ||||||||||||||||
Total securities available for sale | $ | (35,543 | ) | $ | 1,165,829 | $ | (4,573 | ) | $ | 88,432 | $ | (40,116 | ) | $ | 1,254,261 | ||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
Obligations of state and political obligations | $ | (1,181 | ) | $ | 29,355 | $ | (443 | ) | $ | 6,240 | $ | (1,624 | ) | $ | 35,595 | ||||||||||
Mortgage-backed securities | (952 | ) | 12,913 | (1,172 | ) | 11,616 | (2,124 | ) | 24,529 | ||||||||||||||||
Total securities held to maturity | $ | (2,133 | ) | $ | 42,268 | $ | (1,615 | ) | $ | 17,856 | $ | (3,748 | ) | $ | 60,124 | ||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Less Than Twelve Months | Over Twelve Months | Total | |||||||||||||||||||||||
Gross | Estimated | Gross | Estimated | Gross | Estimated | ||||||||||||||||||||
Unrealized | Fair | Unrealized | Fair | Unrealized | Fair | ||||||||||||||||||||
(Dollars in thousands) | 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 Other-Than-Temporarily Impaired Investment Security Portion of Unrealized Loss Recognized in Other Comprehensive Income | ' | ||||||||||||||||||||||||
The following table reflects activity during the years ended December 31, 2013, 2012, and 2011 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. | |||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Balance at beginning of period | $ | (1,273 | ) | $ | (1,273 | ) | $ | (764 | ) | ||||||||||||||||
Credit losses on securities not previously considered other-than-temporarily impaired | — | — | — | ||||||||||||||||||||||
Credit losses on securities for which OTTI was previously recognized | — | — | (509 | ) | |||||||||||||||||||||
Reduction for securities sold/settled during the period | — | — | — | ||||||||||||||||||||||
Balance at end of period | $ | (1,273 | ) | $ | (1,273 | ) | $ | (1,273 | ) | ||||||||||||||||
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 December 31, 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. Weighted average yields are calculated on the basis of the yield to maturity based on the amortized cost of each security. | |||||||||||||||||||||||||
Securities Available for Sale | Securities Held to Maturity | ||||||||||||||||||||||||
Weighted | Estimated | Weighted | Estimated | ||||||||||||||||||||||
Average | Amortized | Fair | Average | Amortized | Fair | ||||||||||||||||||||
(Dollars in thousands) | Yield | Cost | Value | Yield | Cost | Value | |||||||||||||||||||
Within one year or less | 2.03 | % | $ | 17,184 | $ | 17,355 | 1.85 | % | $ | 24,548 | $ | 24,719 | |||||||||||||
One through five years | 1.36 | 231,505 | 230,338 | 3.01 | 18,026 | 18,557 | |||||||||||||||||||
After five through ten years | 2.09 | 558,892 | 552,993 | 2.74 | 24,692 | 24,971 | |||||||||||||||||||
Over ten years | 2.19 | 1,155,465 | 1,136,111 | 3.1 | 86,843 | 84,319 | |||||||||||||||||||
2.06 | % | $ | 1,963,046 | $ | 1,936,797 | 2.83 | % | $ | 154,109 | $ | 152,566 | ||||||||||||||
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. | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Realized gains | $ | 2,387 | $ | 3,754 | $ | 3,429 | |||||||||||||||||||
Realized losses | (110 | ) | (15 | ) | (7 | ) | |||||||||||||||||||
$ | 2,277 | $ | 3,739 | $ | 3,422 | ||||||||||||||||||||
Schedule of Securities in Other Assets on Company's Consolidated Balance Sheets | ' | ||||||||||||||||||||||||
At December 31, 2013 and 2012, the Company included the following securities in “Other assets” on the consolidated balance sheets: | |||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||
Federal Home Loan Bank (FHLB) stock | $ | 24,369 | $ | 16,860 | |||||||||||||||||||||
Federal Reserve Bank (FRB) stock | 28,098 | 28,155 | |||||||||||||||||||||||
Other investments | 1,306 | 1,201 | |||||||||||||||||||||||
$ | 53,773 | $ | 46,216 | ||||||||||||||||||||||
Loans_Receivable_Tables
Loans Receivable (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Schedule of Non-Covered Loans Outstanding | ' | ||||||||||||||||||||||||||||||||
Loans receivable consist of the following, segregated into non-covered and covered loans, for the periods indicated: | |||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | Non-covered loans | Covered loans | Total | ||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 3,479,973 | $ | 387,332 | $ | 3,867,305 | |||||||||||||||||||||||||||
Business | 2,959,088 | 37,025 | 2,996,113 | ||||||||||||||||||||||||||||||
6,439,061 | 424,357 | 6,863,418 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 423,057 | 154,025 | 577,082 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | 9,450 | — | 9,450 | ||||||||||||||||||||||||||||||
432,507 | 154,025 | 586,532 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 1,154,670 | 137,122 | 1,291,792 | ||||||||||||||||||||||||||||||
Indirect automobile | 375,236 | — | 375,236 | ||||||||||||||||||||||||||||||
Other | 370,752 | 4,289 | 375,041 | ||||||||||||||||||||||||||||||
1,900,658 | 141,411 | 2,042,069 | |||||||||||||||||||||||||||||||
$ | 8,772,226 | $ | 719,793 | $ | 9,492,019 | ||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
(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 excluding acquired loans on nonaccrual status at December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 1,803 | $ | 5,479 | |||||||||||||||||||||||||||||
Commercial real estate - other | 7,648 | 23,476 | |||||||||||||||||||||||||||||||
Commercial business | 15,020 | 3,358 | |||||||||||||||||||||||||||||||
Residential prime | 8,611 | 8,367 | |||||||||||||||||||||||||||||||
Residential subprime | 1,626 | — | |||||||||||||||||||||||||||||||
Home equity | 6,808 | 5,635 | |||||||||||||||||||||||||||||||
Indirect automobile | 1,275 | 868 | |||||||||||||||||||||||||||||||
Credit card | 411 | 424 | |||||||||||||||||||||||||||||||
Other | 485 | 310 | |||||||||||||||||||||||||||||||
$ | 43,687 | $ | 47,917 | ||||||||||||||||||||||||||||||
Schedule of Carrying Amount of Acquired Covered Loans | ' | ||||||||||||||||||||||||||||||||
The carrying amount of the acquired covered loans at December 31, 2013 and 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. | |||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Covered | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Loans | Loans | Loans | ||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 14,904 | $ | 372,428 | $ | 387,332 | |||||||||||||||||||||||||||
Business | — | 37,025 | 37,025 | ||||||||||||||||||||||||||||||
14,904 | 409,453 | 424,357 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 28,223 | 125,802 | 154,025 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | — | — | — | ||||||||||||||||||||||||||||||
28,223 | 125,802 | 154,025 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 21,768 | 115,354 | 137,122 | ||||||||||||||||||||||||||||||
Indirect automobile | — | — | — | ||||||||||||||||||||||||||||||
Other | 1,182 | 3,107 | 4,289 | ||||||||||||||||||||||||||||||
22,950 | 118,461 | 141,411 | |||||||||||||||||||||||||||||||
$ | 66,077 | $ | 653,716 | $ | 719,793 | ||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Covered | |||||||||||||||||||||||||||||||
(Dollars in thousands) | 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 difference of acquired loans during the years ended December 31, 2013, 2012 and 2011. | |||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Acquired | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Loans | Loans | Loans | ||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 76,623 | $ | 279,770 | $ | 356,393 | |||||||||||||||||||||||||||
Transfers from nonaccretable difference to accretable yield | 7,849 | 42,894 | 50,743 | ||||||||||||||||||||||||||||||
Accretion | (16,273 | ) | (163,183 | ) | (179,456 | ) | |||||||||||||||||||||||||||
Changes in expected cash flows not affecting nonaccretable differences (1) | 10,150 | 117,062 | 127,212 | ||||||||||||||||||||||||||||||
Balance at end of period | $ | 78,349 | $ | 276,543 | $ | 354,892 | |||||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Acquired | |||||||||||||||||||||||||||||||
Loans | Loans | Loans | |||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 83,834 | $ | 386,977 | $ | 470,811 | |||||||||||||||||||||||||||
Acquisition | 1,190 | 22,899 | 24,089 | ||||||||||||||||||||||||||||||
Transfers from nonaccretable difference to accretable yield | (11,816 | ) | (47,842 | ) | (59,658 | ) | |||||||||||||||||||||||||||
Accretion | (30,417 | ) | (218,892 | ) | (249,309 | ) | |||||||||||||||||||||||||||
Changes in expected cash flows not affecting nonaccretable differences (1) | 33,832 | 136,628 | 170,460 | ||||||||||||||||||||||||||||||
Balance at end of period | $ | 76,623 | $ | 279,770 | $ | 356,393 | |||||||||||||||||||||||||||
2011 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Acquired | |||||||||||||||||||||||||||||||
Loans | Loans | Loans | |||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 82,381 | $ | 626,190 | $ | 708,571 | |||||||||||||||||||||||||||
Acquisition | 7,346 | 139,163 | 146,509 | ||||||||||||||||||||||||||||||
Net transfers from (to) nonaccretable difference to (from) accretable yield | 37,687 | (216,551 | ) | (178,864 | ) | ||||||||||||||||||||||||||||
Accretion | (43,580 | ) | (161,825 | ) | (205,405 | ) | |||||||||||||||||||||||||||
Balance at end of period | $ | 83,834 | $ | 386,977 | $ | 470,811 | |||||||||||||||||||||||||||
-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 December 31, 2013 and 2012 is presented in the following tables. | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Accruing Loans | Accruing Loans | ||||||||||||||||||||||||||||||||
Past Due | Past Due | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | > 30 days | Nonaccrual TDRs | Total TDRs | Current | > 30 days | Nonaccrual TDRs | Total TDRs | |||||||||||||||||||||||||
Commercial real estate construction | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Commercial real estate - other | 400 | — | 4,452 | 4,852 | 1,057 | — | 14,853 | 15,910 | |||||||||||||||||||||||||
Commercial business | 976 | — | 13,791 | 14,767 | 1,204 | — | 281 | 1,485 | |||||||||||||||||||||||||
Residential prime | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Residential subprime | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Home equity | — | — | 258 | 258 | 93 | — | 222 | 315 | |||||||||||||||||||||||||
Indirect automobile | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
$ | 1,376 | $ | — | $ | 18,501 | $ | 19,877 | $ | 2,354 | $ | — | $ | 15,356 | $ | 17,710 | ||||||||||||||||||
Schedule of Modified TDRs | ' | ||||||||||||||||||||||||||||||||
The following table provides information on how the TDRs were modified during the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||||
Extended maturities | $ | — | $ | 412 | |||||||||||||||||||||||||||||
Interest rate adjustment | — | 277 | |||||||||||||||||||||||||||||||
Maturity and interest rate adjustment | — | 1,249 | |||||||||||||||||||||||||||||||
Movement to or extension of interest-rate only payments | — | 2,543 | |||||||||||||||||||||||||||||||
Forbearance | 12,975 | 168 | |||||||||||||||||||||||||||||||
Other concession(s) (1) | 1,587 | — | |||||||||||||||||||||||||||||||
$ | 14,562 | $ | 4,649 | ||||||||||||||||||||||||||||||
-1 | Other concessions include concessions or a combination of concessions that do not consist of maturity extensions, interest rate adjustments, forbearance or covenant modifications. | ||||||||||||||||||||||||||||||||
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 December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||
Total Non-covered | Recorded | ||||||||||||||||||||||||||||||||
Past Due (1) | 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 | $ | — | $ | — | $ | 1,803 | $ | 1,803 | $ | 381,292 | $ | 383,095 | $ | — | |||||||||||||||||||
Commercial real estate - other | 6,098 | 5,630 | 7,650 | 19,378 | 2,732,431 | 2,751,809 | 2 | ||||||||||||||||||||||||||
Commercial business | 2,117 | 423 | 15,020 | 17,560 | 2,888,491 | 2,906,051 | — | ||||||||||||||||||||||||||
Residential prime | 1,104 | 852 | 9,684 | 11,640 | 286,167 | 297,807 | 1,073 | ||||||||||||||||||||||||||
Residential subprime | — | — | 1,626 | 1,626 | 114,939 | 116,565 | — | ||||||||||||||||||||||||||
Home equity | 1,956 | 569 | 6,808 | 9,333 | 1,091,894 | 1,101,227 | — | ||||||||||||||||||||||||||
Indirect automobile | 1,427 | 293 | 1,275 | 2,995 | 370,388 | 373,383 | — | ||||||||||||||||||||||||||
Credit card | 266 | 92 | 411 | 769 | 62,873 | 63,642 | — | ||||||||||||||||||||||||||
Other | 458 | 106 | 485 | 1,049 | 293,693 | 294,742 | — | ||||||||||||||||||||||||||
$ | 13,426 | $ | 7,965 | $ | 44,762 | $ | 66,153 | $ | 8,222,168 | $ | 8,288,321 | $ | 1,075 | ||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||
Total Non-covered | Recorded | ||||||||||||||||||||||||||||||||
Past Due (1) | 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 December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||
Total Non-covered | Recorded | ||||||||||||||||||||||||||||||||
Past Due (1) | 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 | $ | 388 | $ | — | $ | 2,542 | $ | 2,930 | $ | 19,833 | $ | (2,532 | ) | $ | 20,231 | $ | 2,542 | ||||||||||||||||
Commercial real estate - other | 1,798 | 1,963 | 27,967 | 31,728 | 345,286 | (52,176 | ) | 324,838 | 27,967 | ||||||||||||||||||||||||
Commercial business | 544 | — | 1,218 | 1,762 | 54,189 | (2,914 | ) | 53,037 | 1,218 | ||||||||||||||||||||||||
Residential prime | — | — | 226 | 226 | 18,796 | (887 | ) | 18,135 | 226 | ||||||||||||||||||||||||
Home equity | 313 | 516 | 4,242 | 5,071 | 53,995 | (5,623 | ) | 53,443 | 4,242 | ||||||||||||||||||||||||
Indirect automobile | 33 | — | 95 | 128 | 1,725 | — | 1,853 | 95 | |||||||||||||||||||||||||
Other | 175 | 101 | 975 | 1,251 | 12,598 | (1,481 | ) | 12,368 | 975 | ||||||||||||||||||||||||
$ | 3,251 | $ | 2,580 | $ | 37,265 | $ | 43,096 | $ | 506,422 | $ | (65,613 | ) | $ | 483,905 | $ | 37,265 | |||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||
Total Non-covered | Recorded | ||||||||||||||||||||||||||||||||
Past Due (1) | 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 TDRs occurring in these periods is presented in the following table. | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Pre-modification | Post-modification | Pre-modification | Post-modification | ||||||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | ||||||||||||||||||||||||||||
(In thousands, except number of loans) | Loans | Investment | Investment (1) | Loans | Investment | Investment (1) | |||||||||||||||||||||||||||
Commercial real estate | — | $ | — | $ | — | 14 | $ | 3,852 | $ | 3,312 | |||||||||||||||||||||||
Commercial business | 9 | 14,835 | 12,429 | 4 | 1,215 | 1,188 | |||||||||||||||||||||||||||
Residential prime | — | — | — | — | — | — | |||||||||||||||||||||||||||
Home Equity | — | — | — | 1 | 94 | 51 | |||||||||||||||||||||||||||
Indirect automobile | — | — | — | — | — | — | |||||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | |||||||||||||||||||||||||||
Other | — | — | — | 1 | — | — | |||||||||||||||||||||||||||
9 | $ | 14,835 | $ | 12,429 | 20 | $ | 5,161 | $ | 4,551 | ||||||||||||||||||||||||
-1 | Recorded investment includes any allowance for credit losses recorded on the TDRs at the dates indicated. | ||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||||||
(In thousands, except number of loans) | Loans | Investment | Loans | Investment | |||||||||||||||||||||||||||||
Commercial real estate | 35 | $ | 4,452 | 44 | $ | 14,615 | |||||||||||||||||||||||||||
Commercial business | 17 | 12,808 | 9 | 1,469 | |||||||||||||||||||||||||||||
Residential prime | — | — | — | — | |||||||||||||||||||||||||||||
Home Equity | 1 | 45 | 2 | 273 | |||||||||||||||||||||||||||||
Indirect automobile | — | — | — | — | |||||||||||||||||||||||||||||
Credit card | — | — | — | — | |||||||||||||||||||||||||||||
Other | 1 | — | 1 | — | |||||||||||||||||||||||||||||
54 | $ | 17,305 | 56 | $ | 16,357 | ||||||||||||||||||||||||||||
Allowance_for_Credit_Losses_an1
Allowance for Credit Losses and Credit Quality (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Effect of Change in Methodology on the Company's Consolidated Financial Statements | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the effect of the change in methodology on the Company’s consolidated financial statements as of December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands, except per share data) | Current Methodology | Previous Methodolgy (1) | Difference | Per Share Difference | |||||||||||||||||||||||||||||||||||||||||||||
Selected Data | |||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | $ | 67,342 | $ | 77,759 | $ | (10,417 | ) | ||||||||||||||||||||||||||||||||||||||||||
Reserve for unfunded lending commitments | 11,147 | — | 11,147 | ||||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | $ | 78,489 | $ | 77,759 | $ | 730 | |||||||||||||||||||||||||||||||||||||||||||
Provision for loan losses | $ | 6,828 | $ | 7,417 | $ | (589 | ) | $ | (0.01 | ) | |||||||||||||||||||||||||||||||||||||||
Provision for unfunded lending commitments | 1,319 | — | 1,319 | 0.03 | |||||||||||||||||||||||||||||||||||||||||||||
Total provision for credit losses | $ | 8,147 | $ | 7,417 | $ | 730 | $ | 0.02 | |||||||||||||||||||||||||||||||||||||||||
-1 | The RULC was previously presented as part of the allowance for loan losses. | ||||||||||||||||||||||||||||||||||||||||||||||||
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: | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 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 | 6,828 | (3,158 | ) | (54,610 | ) | (50,940 | ) | ||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | 56,085 | 56,085 | |||||||||||||||||||||||||||||||||||||||||||||
Net (reversal of) provision for loan losses | 6,828 | (3,158 | ) | 1,475 | 5,145 | ||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | (56,085 | ) | (56,085 | ) | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | (1,085 | ) | (27,041 | ) | (28,126 | ) | ||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to the RULC | (9,828 | ) | — | — | (9,828 | ) | |||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (10,686 | ) | (31 | ) | (15,764 | ) | (26,481 | ) | |||||||||||||||||||||||||||||||||||||||||
Recoveries | 6,817 | 15 | 14 | 6,846 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 67,342 | $ | 4,557 | $ | 71,175 | $ | 143,074 | |||||||||||||||||||||||||||||||||||||||||
Reserve for unfunded lending commitments | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||
Transfer of balance from the allowance for loan losses | 9,828 | — | — | 9,828 | |||||||||||||||||||||||||||||||||||||||||||||
Provision for unfunded lending commitments | 1,319 | — | — | 1,319 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 11,147 | $ | — | $ | — | $ | 11,147 | |||||||||||||||||||||||||||||||||||||||||
December 31, 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 | |||||||||||||||||||||||||||||||||||||||||
Provision for loan losses before adjustment attributable to FDIC loss share agreements | 3,804 | 9,799 | 91,153 | 104,756 | |||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | (84,085 | ) | (84,085 | ) | |||||||||||||||||||||||||||||||||||||||||||
Net provision for loan losses | 3,804 | 9,799 | 7,068 | 20,671 | |||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | 84,085 | 84,085 | |||||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | (826 | ) | (26,343 | ) | (27,169 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (9,728 | ) | (179 | ) | (15,153 | ) | (25,060 | ) | |||||||||||||||||||||||||||||||||||||||||
Recoveries | 5,274 | 22 | 19 | 5,315 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 74,211 | $ | 8,816 | $ | 168,576 | $ | 251,603 | |||||||||||||||||||||||||||||||||||||||||
31-Dec-11 | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
Excluding Acquired Loans | Acquired Loans | Covered Loans | Total | ||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 62,460 | $ | — | $ | 73,640 | $ | 136,100 | |||||||||||||||||||||||||||||||||||||||||
Provision for loan losses before adjustment attributable to FDIC loss share agreements | 19,974 | — | 63,014 | 82,988 | |||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | (57,121 | ) | (57,121 | ) | |||||||||||||||||||||||||||||||||||||||||||
Net provision for loan losses | 19,974 | — | 5,893 | 25,867 | |||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | 57,121 | 57,121 | |||||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | — | (17,143 | ) | (17,143 | ) | |||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (15,022 | ) | — | (1,137 | ) | (16,159 | ) | ||||||||||||||||||||||||||||||||||||||||||
Recoveries | 7,449 | — | 526 | 7,975 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 74,861 | $ | — | $ | 118,900 | $ | 193,761 | |||||||||||||||||||||||||||||||||||||||||
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: | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
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 | (8,830 | ) | 3,543 | 860 | 8,097 | — | 3,670 | ||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (319 | ) | (113 | ) | (646 | ) | (7 | ) | — | (1,085 | ) | ||||||||||||||||||||||||||||||||||||||
Transfer of balance to the RULC | (2,939 | ) | (3,497 | ) | (40 | ) | (3,352 | ) | — | (9,828 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (2,940 | ) | (516 | ) | (518 | ) | (6,743 | ) | — | (10,717 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 3,354 | 377 | 765 | 2,336 | — | 6,832 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 26,590 | $ | 28,515 | $ | 2,546 | $ | 14,248 | — | $ | 71,899 | ||||||||||||||||||||||||||||||||||||||
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 | 150 | 1,342 | 32 | (205 | ) | — | 1,319 | ||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 3,089 | $ | 4,839 | $ | 72 | $ | 3,147 | $ | — | $ | 11,147 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | 8 | $ | 841 | $ | 180 | $ | — | $ | — | $ | 1,029 | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 26,582 | 27,674 | 2,366 | 14,248 | — | 70,870 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 3,479,973 | $ | 2,959,088 | $ | 432,507 | $ | 1,900,658 | $ | — | $ | 8,772,226 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | 8,705 | 15,812 | 1,407 | 258 | — | 26,182 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 3,471,268 | 2,943,276 | 431,100 | 1,900,400 | — | 8,746,044 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 12,240 | 30 | 126 | 1,387 | — | 13,783 | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 35,604 | $ | 25,705 | $ | 897 | $ | 12,655 | $ | — | $ | 74,861 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 1,786 | 4,021 | 2,578 | 5,218 | — | 13,603 | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (292 | ) | — | (525 | ) | (9 | ) | — | (826 | ) | |||||||||||||||||||||||||||||||||||||||
Loans charged off | (2,000 | ) | (1,116 | ) | (863 | ) | (5,928 | ) | — | (9,907 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 3,166 | 111 | 38 | 1,981 | — | 5,296 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 38,264 | $ | 28,721 | $ | 2,125 | $ | 13,917 | $ | — | $ | 83,027 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | 226 | $ | 449 | $ | 163 | $ | 42 | $ | — | $ | 880 | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 38,038 | 28,272 | 1,962 | 13,875 | — | 82,147 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 2,990,700 | $ | 2,450,667 | $ | 290,040 | $ | 1,674,417 | $ | — | $ | 7,405,824 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | 28,052 | 4,401 | 1,703 | 315 | — | 34,471 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 2,962,648 | 2,446,266 | 288,337 | 1,674,102 | — | 7,371,353 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 55,856 | 3,470 | 330 | 5,035 | — | 64,691 | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 31,390 | $ | 16,473 | $ | 1,265 | $ | 13,332 | $ | — | $ | 62,460 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 6,809 | 9,533 | (215 | ) | 3,847 | — | 19,974 | ||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans charged off | (7,656 | ) | (471 | ) | (222 | ) | (6,673 | ) | — | (15,022 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 5,061 | 170 | 69 | 2,149 | — | 7,449 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 35,604 | $ | 25,705 | $ | 897 | $ | 12,655 | $ | — | $ | 74,861 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | 1,874 | $ | 179 | $ | 133 | $ | — | $ | — | $ | 2,186 | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 33,730 | 25,526 | 764 | 12,655 | — | 72,675 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 2,591,013 | $ | 1,896,496 | $ | 283,113 | $ | 1,282,966 | $ | — | $ | 6,053,588 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | 34,541 | 6,530 | 1,009 | 231 | — | 42,311 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 2,556,472 | 1,889,966 | 282,104 | 1,282,735 | — | 6,011,277 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 4,835 | 26,531 | — | 4,129 | — | 35,495 | |||||||||||||||||||||||||||||||||||||||||||
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: | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
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 | 1,523 | (649 | ) | 286 | 315 | — | 1,475 | ||||||||||||||||||||||||||||||||||||||||||
(Decrease) Increase in FDIC loss share receivable | (28,238 | ) | (5,032 | ) | (4,896 | ) | (17,919 | ) | — | (56,085 | ) | ||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (19,634 | ) | (314 | ) | (7,067 | ) | (26 | ) | — | (27,041 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (15,764 | ) | — | — | — | — | (15,764 | ) | |||||||||||||||||||||||||||||||||||||||||
Recoveries | 14 | — | — | — | — | 14 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 38,772 | $ | 5,380 | $ | 10,889 | $ | 16,134 | $ | — | $ | 71,175 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 38,772 | 5,380 | 10,889 | 16,134 | — | 71,175 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 387,332 | $ | 37,025 | $ | 154,025 | $ | 141,411 | $ | — | $ | 719,793 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 387,332 | 37,025 | 154,025 | 141,411 | — | 719,793 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 14,904 | — | 28,223 | 22,950 | — | 66,077 | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
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 | 4,970 | 964 | 323 | 811 | — | 7,068 | |||||||||||||||||||||||||||||||||||||||||||
(Decrease) Increase in FDIC loss share receivable | 51,543 | 3,616 | 13,895 | 15,031 | — | 84,085 | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (11,202 | ) | (2,993 | ) | (11,323 | ) | (825 | ) | — | (26,343 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (13,631 | ) | — | (1,513 | ) | (9 | ) | — | (15,153 | ) | |||||||||||||||||||||||||||||||||||||||
Recoveries | 16 | — | — | 3 | — | 19 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 100,871 | $ | 11,375 | $ | 22,566 | $ | 33,764 | $ | — | $ | 168,576 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 100,871 | 11,375 | 22,566 | 33,764 | — | 168,576 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 640,843 | $ | 87,051 | $ | 187,164 | $ | 177,698 | $ | — | $ | 1,092,756 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 640,843 | 87,051 | 187,164 | 177,698 | — | 1,092,756 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 167,742 | 2,757 | 20,232 | 22,914 | — | 213,645 | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 26,439 | $ | 6,657 | $ | 28,343 | $ | 12,201 | $ | — | $ | 73,640 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 6,762 | 392 | (2,232 | ) | 971 | — | 5,893 | ||||||||||||||||||||||||||||||||||||||||||
(Decrease) Increase in FDIC loss share receivable | 50,079 | 2,899 | (3,045 | ) | 7,188 | — | 57,121 | ||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (13,316 | ) | (160 | ) | (1,962 | ) | (1,705 | ) | — | (17,143 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (1,073 | ) | — | (22 | ) | (42 | ) | — | (1,137 | ) | |||||||||||||||||||||||||||||||||||||||
Recoveries | 284 | — | 102 | 140 | — | 526 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 69,175 | $ | 9,788 | $ | 21,184 | $ | 18,753 | $ | — | $ | 118,900 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 69,175 | 9,788 | 21,184 | 18,753 | — | 118,900 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 772,877 | $ | 108,738 | $ | 255,387 | $ | 197,447 | $ | — | $ | 1,334,449 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 772,877 | 108,738 | 255,387 | 197,447 | — | 1,334,449 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 54,691 | 4,169 | 35,794 | 29,473 | — | 124,127 | |||||||||||||||||||||||||||||||||||||||||||
Investment in Covered Loans and Non-Covered Loans by Credit Quality Indicator | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Asset risk classifications for commercial loans reflect the classification as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Special | Substandard | Doubtful | Total | Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||||||||||||
Mention | Mention | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 370,824 | $ | 9,309 | $ | 2,962 | $ | — | $ | 383,095 | $ | 269,842 | $ | 16,767 | $ | 7,067 | $ | — | $ | 293,676 | |||||||||||||||||||||||||||||
Commercial real estate - other | 2,694,161 | 27,227 | 30,308 | 113 | 2,751,809 | 2,162,989 | 40,547 | 47,710 | 398 | 2,251,644 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 2,866,794 | 6,164 | 32,167 | 926 | 2,906,051 | 2,295,788 | 21,640 | 49,958 | 48 | 2,367,434 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 5,931,779 | $ | 42,700 | $ | 65,437 | $ | 1,039 | 6,040,955 | $ | 4,728,619 | $ | 78,954 | $ | 104,735 | $ | 446 | $ | 4,912,754 | ||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | 30+ Days | Total | Current | 30+ Days | Total | |||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential prime | $ | 286,167 | $ | 11,640 | $ | 297,807 | $ | 185,843 | $ | 10,986 | $ | 196,829 | |||||||||||||||||||||||||||||||||||||
Residential subprime | 114,939 | 1,626 | 116,565 | 60,454 | — | 60,454 | |||||||||||||||||||||||||||||||||||||||||||
Home equity | 1,091,894 | 9,333 | 1,101,227 | 991,766 | 8,872 | 1,000,638 | |||||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 370,388 | 2,995 | 373,383 | 320,148 | 2,818 | 322,966 | |||||||||||||||||||||||||||||||||||||||||||
Credit card | 62,873 | 769 | 63,642 | 51,117 | 605 | 51,722 | |||||||||||||||||||||||||||||||||||||||||||
Consumer - other | 293,693 | 1,049 | 294,742 | 201,161 | 981 | 202,142 | |||||||||||||||||||||||||||||||||||||||||||
$ | 2,219,954 | $ | 27,412 | $ | 2,247,366 | $ | 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. | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 8,567 | $ | 8,567 | $ | — | $ | 10,443 | $ | 43 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 13,256 | 13,256 | — | 11,074 | 170 | ||||||||||||||||||||||||||||||||||||||||||||
Home equity | 258 | 258 | — | 281 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 1,268 | 1,284 | (16 | ) | 4,414 | 8 | |||||||||||||||||||||||||||||||||||||||||||
Commercial business | 1,927 | 2,770 | (843 | ) | 2,892 | 100 | |||||||||||||||||||||||||||||||||||||||||||
Residential prime | 9,791 | 10,019 | (228 | ) | 8,096 | 98 | |||||||||||||||||||||||||||||||||||||||||||
Residential subprime | 1,617 | 1,626 | (9 | ) | 1,579 | — | |||||||||||||||||||||||||||||||||||||||||||
Home equity | 6,506 | 6,550 | (44 | ) | 7,593 | 93 | |||||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 1,267 | 1,275 | (8 | ) | 2,090 | 55 | |||||||||||||||||||||||||||||||||||||||||||
Credit card | 404 | 411 | (7 | ) | 418 | — | |||||||||||||||||||||||||||||||||||||||||||
Other | 481 | 485 | (4 | ) | 765 | 19 | |||||||||||||||||||||||||||||||||||||||||||
$ | 45,342 | $ | 46,501 | $ | (1,159 | ) | $ | 49,645 | $ | 587 | |||||||||||||||||||||||||||||||||||||||
Total commercial loans | 25,018 | 25,877 | (859 | ) | 28,823 | 321 | |||||||||||||||||||||||||||||||||||||||||||
Total mortgage loans | 11,408 | 11,645 | (237 | ) | 9,675 | 98 | |||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 8,916 | 8,979 | (63 | ) | 11,147 | 168 | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 26,151 | $ | 26,151 | $ | — | $ | 34,682 | $ | 168 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 1,824 | 1,824 | — | 2,621 | 33 | ||||||||||||||||||||||||||||||||||||||||||||
Home equity | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 3,464 | 3,663 | (199 | ) | 3,678 | 123 | |||||||||||||||||||||||||||||||||||||||||||
Commercial business | 1,334 | 1,810 | (476 | ) | 1,889 | 47 | |||||||||||||||||||||||||||||||||||||||||||
Residential prime | 9,861 | 10,070 | (209 | ) | 7,955 | 131 | |||||||||||||||||||||||||||||||||||||||||||
Residential subprime | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Home equity | 5,860 | 5,951 | (91 | ) | 6,713 | 51 | |||||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 865 | 868 | (3 | ) | 1,514 | 28 | |||||||||||||||||||||||||||||||||||||||||||
Credit card | 413 | 424 | (11 | ) | 372 | — | |||||||||||||||||||||||||||||||||||||||||||
Other | 307 | 310 | (3 | ) | 601 | 5 | |||||||||||||||||||||||||||||||||||||||||||
$ | 50,079 | $ | 51,071 | $ | (992 | ) | $ | 60,025 | $ | 586 | |||||||||||||||||||||||||||||||||||||||
Total commercial loans | 32,773 | 33,448 | (675 | ) | 42,870 | 371 | |||||||||||||||||||||||||||||||||||||||||||
Total mortgage loans | 9,861 | 10,070 | (209 | ) | 7,955 | 131 | |||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 7,445 | 7,553 | (108 | ) | 9,200 | 84 | |||||||||||||||||||||||||||||||||||||||||||
Covered Loans [Member] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment in Covered Loans and Non-Covered Loans by Credit Quality Indicator | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Special | Substandard | Doubtful | Discount | Total | Pass | Special | Substandard | Doubtful | Discount | Total | |||||||||||||||||||||||||||||||||||||
Mention | Mention | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 21,244 | $ | — | $ | 1,519 | $ | — | $ | (2,532 | ) | $ | 20,231 | $ | 25,896 | $ | 2,410 | $ | 5,228 | $ | — | $ | (3,968 | ) | $ | 29,566 | |||||||||||||||||||||||
Commercial real estate - other | 350,412 | 5,096 | 21,413 | 93 | (52,176 | ) | 324,838 | 359,046 | 28,185 | 85,420 | 218 | (57,055 | ) | 415,814 | |||||||||||||||||||||||||||||||||||
Commercial business | 53,533 | 517 | 1,901 | — | (2,914 | ) | 53,037 | 86,201 | 2,159 | 4,808 | 2,209 | (12,144 | ) | 83,233 | |||||||||||||||||||||||||||||||||||
Total | $ | 425,189 | $ | 5,613 | $ | 24,833 | $ | 93 | $ | (57,622 | ) | $ | 398,106 | $ | 471,143 | $ | 32,754 | $ | 95,456 | $ | 2,427 | $ | (73,167 | ) | $ | 528,613 | |||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 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 | $ | 18,796 | $ | 226 | $ | (887 | ) | $ | 18,135 | $ | 30,663 | $ | 779 | $ | 1,315 | $ | 32,757 | ||||||||||||||||||||||||||||||||
Home equity | 53,995 | 5,071 | (5,623 | ) | 53,443 | 73,658 | 7,115 | (4,498 | ) | 76,275 | |||||||||||||||||||||||||||||||||||||||
Indirect automobile | 1,725 | 128 | — | 1,853 | 4,698 | 321 | — | 5,019 | |||||||||||||||||||||||||||||||||||||||||
Consumer - other | 12,598 | 1,251 | (1,481 | ) | 12,368 | 21,746 | 714 | (6,805 | ) | 15,655 | |||||||||||||||||||||||||||||||||||||||
$ | 87,114 | $ | 6,676 | $ | (7,991 | ) | $ | 85,799 | $ | 130,765 | $ | 8,929 | $ | (9,988 | ) | $ | 129,706 | ||||||||||||||||||||||||||||||||
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 premiums/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 | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Special | Substandard | Doubtful | Total | Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||||||||||||
Mention | Mention | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 42,886 | $ | 7,401 | $ | 23,891 | $ | 497 | $ | 74,675 | $ | 46,201 | $ | 9,888 | $ | 97,315 | $ | 607 | $ | 154,011 | |||||||||||||||||||||||||||||
Commercial real estate - other | 148,579 | 49,699 | 144,680 | 3,267 | 346,225 | 201,261 | 65,498 | 279,171 | 8,530 | 554,460 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 30,710 | 780 | 14,556 | 984 | 47,030 | 38,552 | 8,600 | 50,018 | 451 | 97,621 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 222,175 | $ | 57,880 | $ | 183,127 | $ | 4,748 | $ | 467,930 | $ | 286,014 | $ | 83,986 | $ | 426,504 | $ | 9,588 | $ | 806,092 | |||||||||||||||||||||||||||||
Discount | (43,573 | ) | (78,198 | ) | |||||||||||||||||||||||||||||||||||||||||||||
$ | 424,357 | $ | 727,894 | ||||||||||||||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 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 | $ | 158,710 | $ | 30,814 | $ | (35,499 | ) | $ | 154,025 | $ | 183,795 | $ | 52,379 | $ | (49,010 | ) | $ | 187,164 | |||||||||||||||||||||||||||||||
Home equity | 143,236 | 35,811 | (41,925 | ) | 137,122 | 168,729 | 65,997 | (60,514 | ) | 174,212 | |||||||||||||||||||||||||||||||||||||||
Credit card | 648 | 31 | — | 679 | 841 | 65 | — | 906 | |||||||||||||||||||||||||||||||||||||||||
Consumer - other | 591 | 144 | 2,875 | 3,610 | 1,154 | 1,523 | (97 | ) | 2,580 | ||||||||||||||||||||||||||||||||||||||||
$ | 303,185 | $ | 66,800 | $ | (74,549 | ) | $ | 295,436 | $ | 354,519 | $ | 119,964 | $ | (109,621 | ) | $ | 364,862 | ||||||||||||||||||||||||||||||||
Loss_Sharing_Agreements_and_FD1
Loss Sharing Agreements and FDIC Loss Share Receivable (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Schedule of FDIC Loss Share Receivables | ' | ||||||||
The following is a summary of FDIC loss share receivables year-to-date activity: | |||||||||
December 31, | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Balance at beginning of period | $ | 423,069 | $ | 591,844 | |||||
Change due to (reversal of) loan loss provision recorded on FDIC covered loans | (56,085 | ) | 84,085 | ||||||
Amortization | (97,849 | ) | (118,100 | ) | |||||
Submission of reimbursable losses to the FDIC | (52,586 | ) | (123,986 | ) | |||||
Impairment | (31,813 | ) | — | ||||||
Changes due to a change in cash flow assumptions on OREO and other changes | (22,424 | ) | (10,774 | ) | |||||
Balance at end of period | $ | 162,312 | $ | 423,069 | |||||
Transfers_and_Servicing_of_Fin1
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Components of Mortgage Banking Activity | ' | ||||||||||||||||||||||||
The following table details the mortgage banking activity as of and for the years ended December 31: | |||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Balance at beginning of period | $ | 267,475 | $ | 153,013 | $ | 83,905 | |||||||||||||||||||
Balance acquired during the period | — | — | 3,385 | ||||||||||||||||||||||
Originations | 2,116,460 | 2,432,367 | 1,659,226 | ||||||||||||||||||||||
Sales | (2,255,493 | ) | (2,317,905 | ) | (1,593,503 | ) | |||||||||||||||||||
Balance at end of period | $ | 128,442 | $ | 267,475 | $ | 153,013 | |||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Fair value changes of derivatives and mortgage loans held for sale, net | $ | (1,722 | ) | $ | 6,772 | $ | 937 | ||||||||||||||||||
Gains on sales | 65,393 | 70,811 | 43,955 | ||||||||||||||||||||||
Servicing and other income, net | 526 | 470 | 285 | ||||||||||||||||||||||
$ | 64,197 | $ | 78,053 | $ | 45,177 | ||||||||||||||||||||
Schedule of Definite-Lived Intangible Assets | ' | ||||||||||||||||||||||||
Definite-lived intangible assets had the following carrying values as of the periods indicated: | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
(Dollars in thousands) | Carrying Amount | Amortization | Carrying Amount | Carrying Amount | Amortization | Carrying Amount | |||||||||||||||||||
Core deposit intangibles | $ | 45,406 | $ | (30,784 | ) | $ | 14,622 | $ | 45,406 | $ | (26,284 | ) | $ | 19,122 | |||||||||||
Customer relationship intangible asset | 1,348 | (631 | ) | 717 | 1,348 | (410 | ) | 938 | |||||||||||||||||
$ | 46,754 | $ | (31,415 | ) | $ | 15,339 | $ | 46,754 | $ | (26,694 | ) | $ | 20,060 | ||||||||||||
Schedule of Amortization Expense of Purchase Accounting Intangible Assets | ' | ||||||||||||||||||||||||
The related amortization expense of purchase accounting intangible assets is as follows: | |||||||||||||||||||||||||
(Dollars in thousands) | Amount | ||||||||||||||||||||||||
Aggregate amortization expense for the year ended December 31: | |||||||||||||||||||||||||
2011 | $ | 5,121 | |||||||||||||||||||||||
2012 | 5,150 | ||||||||||||||||||||||||
2013 | 4,720 | ||||||||||||||||||||||||
Estimated amortization expense for the year ended December 31: | |||||||||||||||||||||||||
2014 | $ | 4,346 | |||||||||||||||||||||||
2015 | 3,546 | ||||||||||||||||||||||||
2016 | 3,177 | ||||||||||||||||||||||||
2017 | 1,694 | ||||||||||||||||||||||||
2018 | 1,156 | ||||||||||||||||||||||||
2019 and thereafter | 1,420 | ||||||||||||||||||||||||
Mortgage Servicing Rights [Member] | ' | ||||||||||||||||||||||||
Schedule of Definite-Lived Intangible Assets | ' | ||||||||||||||||||||||||
Mortgage servicing rights had the following carrying values as of the periods indicated: | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
(Dollars in thousands) | Carrying Amount | Amortization | Carrying Amount | Carrying Amount | Amortization | Carrying Amount | |||||||||||||||||||
Mortgage servicing rights | $ | 2,146 | $ | (638 | ) | $ | 1,508 | $ | 1,234 | $ | (304 | ) | $ | 930 | |||||||||||
Schedule of Amortization Expense of Purchase Accounting Intangible Assets | ' | ||||||||||||||||||||||||
The related amortization expense of mortgage servicing intangible assets is as follows: | |||||||||||||||||||||||||
(Dollars in thousands) | Amount | ||||||||||||||||||||||||
Aggregate amortization expense for the year ended December 31: | |||||||||||||||||||||||||
2011 | $ | 115 | |||||||||||||||||||||||
2012 | 225 | ||||||||||||||||||||||||
2013 | 480 | ||||||||||||||||||||||||
Estimated amortization expense for the year ended December 31: | |||||||||||||||||||||||||
2014 | $ | 473 | |||||||||||||||||||||||
2015 | 382 | ||||||||||||||||||||||||
2016 | 291 | ||||||||||||||||||||||||
2017 | 202 | ||||||||||||||||||||||||
2018 | 123 | ||||||||||||||||||||||||
2019 and thereafter | 37 |
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Schedule of Premises and Equipment | ' | ||||||||
Premises and equipment at December 31, 2013 and 2012 consisted of the following: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Land | $ | 77,113 | $ | 81,761 | |||||
Buildings | 217,469 | 221,022 | |||||||
Furniture, fixtures and equipment | 110,663 | 101,907 | |||||||
Total premises and equipment | 405,245 | 404,690 | |||||||
Accumulated depreciation | (117,735 | ) | (101,167 | ) | |||||
Total premises and equipment, net | $ | 287,510 | $ | 303,523 | |||||
Schedule of Minimum Future Annual Rent Commitments | ' | ||||||||
Minimum future annual rent commitments under these agreements for the indicated periods follow: | |||||||||
(Dollars in thousands) | |||||||||
2014 | $ | 11,357 | |||||||
2015 | 10,404 | ||||||||
2016 | 8,925 | ||||||||
2017 | 7,242 | ||||||||
2018 | 6,411 | ||||||||
2019 and thereafter | 36,985 | ||||||||
$ | 81,324 | ||||||||
Goodwill_and_Other_Acquired_In1
Goodwill and Other Acquired Intangible Assets (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||
Schedule of Carrying Amount of Goodwill | ' | ||||
Changes to the carrying amount of goodwill for the years ended December 31, 2013 and 2012 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, December 31, 2013 | $ | 401,872 | |||
Schedule of Goodwill by Segments | ' | ||||
At December 31, 2013, goodwill is allocated to the Company’s reportable segments as follows: | |||||
(Dollars in thousands) | |||||
IBERIABANK | $ | 373,905 | |||
IMC | 23,178 | ||||
Lenders | 4,789 | ||||
$ | 401,872 | ||||
Other_Real_Estate_Owned_Tables
Other Real Estate Owned (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 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 for the periods indicated. For further discussion of loss share coverage periods applicable to the covered foreclosed assets, see Note 8 to these consolidated financial statements. | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
(Dollars in thousands) | Non-covered | Covered | Total | Non-covered | Covered | Total | |||||||||||||||||||
Real estate owned acquired by foreclosure | $ | 28,072 | $ | 60,474 | $ | 88,546 | $ | 35,080 | $ | 75,784 | $ | 110,864 | |||||||||||||
Real estate acquired for development or resale | 9,206 | — | 9,206 | 9,199 | — | 9,199 | |||||||||||||||||||
Other foreclosed property | 93 | 1,328 | 1,421 | 14 | 1,459 | 1,473 | |||||||||||||||||||
$ | 37,371 | $ | 61,802 | $ | 99,173 | $ | 44,293 | $ | 77,243 | $ | 121,536 | ||||||||||||||
Derivative_Instruments_and_Oth1
Derivative Instruments and Other Hedging Activities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Outstanding Derivative Instruments | ' | ||||||||||||||||||||||||||||
Information pertaining to outstanding derivative instruments is as follows: | |||||||||||||||||||||||||||||
Asset Derivatives Fair Value | Liability Derivatives Fair Value | ||||||||||||||||||||||||||||
(Dollars in thousands) | Balance Sheet | December 31, | December 31, | Balance Sheet | December 31, | December 31, | |||||||||||||||||||||||
Location | 2013 | 2012 | Location | 2013 | 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 | $ | 10,621 | $ | 25,940 | Other liabilities | $ | 10,620 | $ | 25,940 | |||||||||||||||||||
Forward sales contracts | Other assets | 1,468 | 2,774 | Other liabilities | 287 | 343 | |||||||||||||||||||||||
Written and purchased options | Other assets | 17,987 | 12,906 | Other liabilities | 15,828 | 8,764 | |||||||||||||||||||||||
Total derivatives not designated as hedging instruments under ASC Topic 815 | $ | 30,076 | $ | 41,620 | $ | 26,735 | $ | 35,047 | |||||||||||||||||||||
Total derivatives | $ | 30,076 | $ | 42,119 | $ | 26,735 | $ | 36,890 | |||||||||||||||||||||
Asset Derivatives Notional Amount | Liability Derivatives Notional Amount | ||||||||||||||||||||||||||||
(Dollars in thousands) | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 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 | $ | 380,303 | $ | 374,536 | $ | 380,303 | $ | 374,536 | |||||||||||||||||||||
Forward sales contracts | 192,876 | 212,028 | 45,091 | 53,269 | |||||||||||||||||||||||||
Written and purchased options | 295,425 | 388,793 | 199,061 | 185,885 | |||||||||||||||||||||||||
Total derivatives not designated as hedging instruments under ASC Topic 815 | $ | 868,604 | $ | 975,357 | $ | 624,455 | $ | 613,690 | |||||||||||||||||||||
Total derivatives | $ | 868,604 | $ | 1,010,357 | $ | 624,455 | $ | 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. | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Gross Amounts | Gross Amounts Not Offset | ||||||||||||||||||||||||||||
(Dollars in thousands) | Presented in the | in the Balance Sheet | |||||||||||||||||||||||||||
Derivatives subject to master netting arrangements | Balance Sheet | Derivatives | Collateral (1) | Net | |||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 10,621 | — | — | 10,621 | |||||||||||||||||||||||||
Written and purchased options | 15,801 | — | — | 15,801 | |||||||||||||||||||||||||
Total derivative assets subject to master netting arrangements | $ | 26,422 | $ | — | $ | — | $ | 26,422 | |||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 10,620 | — | (5,419 | ) | 5,201 | ||||||||||||||||||||||||
Total derivative liabilities subject to master netting arrangements | $ | 10,620 | $ | — | $ | (5,419 | ) | $ | 5,201 | ||||||||||||||||||||
-1 | Consists of cash collateral recorded at cost, which approximates fair value, and investment securities. | ||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Gross Amounts | Gross Amounts Not Offset | ||||||||||||||||||||||||||||
(Dollars in thousands) | Presented in the | in the Balance Sheet | |||||||||||||||||||||||||||
Derivatives subject to master netting arrangements | Balance Sheet | Derivatives | Collateral (1) | Net | |||||||||||||||||||||||||
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 | ' | ||||||||||||||||||||||||||||
At December 31, 2013 and 2012, and for the years then ended, information pertaining to the effect of the hedging instruments on the consolidated financial statements is as follows: | |||||||||||||||||||||||||||||
Amount of | Location of Gain (Loss) | Amount of Gain | Location of Gain (Loss) | Amount of | |||||||||||||||||||||||||
Gain (Loss) | Reclassified from | (Loss) | Recognized in Income on | Gain (Loss) | |||||||||||||||||||||||||
Recognized in | Accumulated OCI into | Reclassified | Derivative (Ineffective | Recognized | |||||||||||||||||||||||||
OCI | Income (Effective Portion) | from | Portion and Amount | in Income | |||||||||||||||||||||||||
net of taxes | Accumulated | Excluded from | on | ||||||||||||||||||||||||||
(Effective | OCI into | (Effectiveness Testing) | Derivative | ||||||||||||||||||||||||||
Portion) | Income | (Ineffective | |||||||||||||||||||||||||||
(Effective | Portion and | ||||||||||||||||||||||||||||
Portion) | Amount | ||||||||||||||||||||||||||||
Excluded | |||||||||||||||||||||||||||||
from | |||||||||||||||||||||||||||||
Effectiveness | |||||||||||||||||||||||||||||
Testing) | |||||||||||||||||||||||||||||
(Dollars in thousands) | As of December 31, | For the Years Ended December 31 | |||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||
Derivatives in ASC Topic 815 Cash Flow Hedging Relationships | |||||||||||||||||||||||||||||
Interest rate contracts | $ | — | $ | (874 | ) | Other income (expense) | $ | (392 | ) | $ | (1,618 | ) | Other income (expense) | $ | 1 | $ | — | ||||||||||||
$ | — | $ | (874 | ) | $ | (392 | ) | $ | (1,618 | ) | $ | 1 | $ | — | |||||||||||||||
(Dollars in thousands) | Location of Gain (Loss) | Amount of Gain (Loss) Recognized in Income | |||||||||||||||||||||||||||
Recognized in Income on | on Derivatives | ||||||||||||||||||||||||||||
Derivatives | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments under ASC Topic 815 | |||||||||||||||||||||||||||||
Interest rate contracts | Other income (expense) | $ | 2,991 | 872 | |||||||||||||||||||||||||
Forward sales contracts | Mortgage Income | (1,716 | ) | 2,431 | |||||||||||||||||||||||||
Written and purchased options | Mortgage Income | (3,032 | ) | 7,119 | |||||||||||||||||||||||||
$ | (1,757 | ) | $ | 10,422 | |||||||||||||||||||||||||
Outstanding Interest Rate Swap Agreements | ' | ||||||||||||||||||||||||||||
At December 31, 2013 and 2012, additional information pertaining to outstanding interest rate swap agreements is as follows: | |||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||
Weighted average pay rate | 3 | % | 3.3 | % | |||||||||||||||||||||||||
Weighted average receive rate | 0.2 | % | 0.3 | ||||||||||||||||||||||||||
Weighted average maturity in years | 7.6 | 7.1 | |||||||||||||||||||||||||||
Unrealized gain (loss) relating to interest rate swaps | $ | — | $ | (1,344 | ) |
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Banking And Thrift [Abstract] | ' | ||||||||
Schedule of Deposits by Type | ' | ||||||||
Deposits at December 31, 2013 and 2012 are summarized as follows: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Negotiable order of withdrawal (NOW) | $ | 4,859,430 | $ | 4,490,914 | |||||
Money market deposits accounts (MMDA) | 3,779,581 | 3,738,480 | |||||||
Savings deposits | 387,397 | 364,703 | |||||||
Certificates of deposit and other time deposits | 1,710,592 | 2,154,180 | |||||||
$ | 10,737,000 | $ | 10,748,277 | ||||||
Schedule of Time Deposits | ' | ||||||||
Total time deposits summarized by denomination at December 31, 2013 and 2012 are as follows: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Time deposits less than $100,000 | $ | 804,250 | $ | 1,007,665 | |||||
Time deposits greater than $100,000 | 906,342 | 1,146,515 | |||||||
$ | 1,710,592 | $ | 2,154,180 | ||||||
Schedule of Maturities of Certificates of Deposit | ' | ||||||||
A schedule of maturities of all certificates of deposit as of December 31, 2013 is as follows: | |||||||||
(Dollars in thousands) | |||||||||
Year ending December 31, | |||||||||
2014 | $ | 1,264,077 | |||||||
2015 | 214,924 | ||||||||
2016 | 126,102 | ||||||||
2017 | 36,563 | ||||||||
2018 | 39,330 | ||||||||
2019 and thereafter | 29,596 | ||||||||
$ | 1,710,592 | ||||||||
ShortTerm_Borrowings_Tables
Short-Term Borrowings (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
Summary of Short-Term Borrowings | ' | ||||||||||||
Short-term borrowings at December 31, 2013 and 2012 are summarized as follows: | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||
Federal Home Loan Bank advances | $ | 375,000 | $ | — | |||||||||
Securities sold under agreements to repurchase | 305,344 | 303,045 | |||||||||||
$ | 680,344 | $ | 303,045 | ||||||||||
Additional Information on Short-Term Borrowings | ' | ||||||||||||
Additional information on the Company’s short-term borrowings for the years indicated is as follows: | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Outstanding at December 31 | $ | 680,344 | $ | 303,045 | $ | 395,543 | |||||||
Maximum month-end outstanding balance | 680,344 | 640,768 | 395,543 | ||||||||||
Average daily outstanding balance | 303,352 | 284,201 | 220,146 | ||||||||||
Average rate during the year | 0.16 | % | 0.22 | % | 0.26 | % | |||||||
Average rate at year end | 0.15 | % | 0.22 | % | 0.27 | % |
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Long-Term Debt | ' | ||||||||
Long-term debt at December 31, 2013 and 2012 is summarized as follows: | |||||||||
(Dollars in thousands) | |||||||||
2013 | 2012 | ||||||||
IBERIABANK: | |||||||||
Federal Home Loan Bank notes, 2.395% to 7.04% | $ | 92,267 | $ | 233,812 | |||||
Notes payable - Investment fund contribution, 7 to 40 year term, 0.50% to 5.00% fixed | 76,570 | 77,703 | |||||||
168,837 | 311,515 | ||||||||
IBERIABANK Corporation: | |||||||||
Statutory Trust I, 3 month LIBOR (1), plus 3.25% | 10,310 | 10,310 | |||||||
Statutory Trust II, 3 month LIBOR (1), plus 3.15% | 10,310 | 10,310 | |||||||
Statutory Trust III, 3 month LIBOR (1), plus 2.00% | 10,310 | 10,310 | |||||||
Statutory Trust IV, 3 month LIBOR (1), plus 1.60% | 15,464 | 15,464 | |||||||
American Horizons Statutory Trust I, 3 month LIBOR (1), plus 3.15% | 6,186 | 6,186 | |||||||
Statutory Trust V, 3 month LIBOR (1), plus 1.435% | 10,310 | 10,310 | |||||||
Statutory Trust VI, 3 month LIBOR (1), plus 2.75% | 12,372 | 12,372 | |||||||
Statutory Trust VII, 3 month LIBOR (1), plus 2.54% | 13,403 | 13,403 | |||||||
Statutory Trust VIII, 3 month LIBOR (1), plus 3.50% | 7,217 | 7,217 | |||||||
OMNI Trust I, 3 month LIBOR (1), plus 3.30% | 8,248 | 8,248 | |||||||
OMNI Trust II, 3 month LIBOR (1), plus 2.79% | 7,732 | 7,732 | |||||||
111,862 | 111,862 | ||||||||
$ | 280,699 | $ | 423,377 | ||||||
-1 | The interest rate on the Company’s long-term debt indexed to LIBOR is based on the 3-month LIBOR rate. The 3-month LIBOR rate was 0.25% and 0.31% at December 31, 2013 and 2012, respectively. | ||||||||
Maturities of Long-Term Debt and Advances | ' | ||||||||
Advances and long-term debt at December 31, 2013 have maturities or call dates in future years as follows: | |||||||||
(Dollars in thousands) | |||||||||
2014 | $ | 10,344 | |||||||
2015 | 1,220 | ||||||||
2016 | 28,863 | ||||||||
2017 | 50,567 | ||||||||
2018 | 7,900 | ||||||||
2019 and thereafter | 181,805 | ||||||||
$ | 280,699 | ||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Provision for Income Tax Expense | ' | ||||||||||||
The provision for income tax expense consists of the following for the years ended December 31: | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Current expense | $ | 62,468 | $ | 44,125 | $ | 33,116 | |||||||
Deferred benefit | (35,943 | ) | (7,527 | ) | (11,750 | ) | |||||||
Tax credits | (11,690 | ) | (8,756 | ) | (6,734 | ) | |||||||
Tax benefits attributable to items charged to equity and goodwill | 1,034 | 654 | 2,349 | ||||||||||
$ | 15,869 | $ | 28,496 | $ | 16,981 | ||||||||
Reconciliation of Effective Tax Rate | ' | ||||||||||||
The provision for federal income taxes differs from the amount computed by applying the federal income tax statutory rate of 35 percent on income from operations as indicated in the following analysis for the years ended December 31: | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Federal tax based on statutory rate | $ | 28,340 | $ | 36,712 | $ | 24,682 | |||||||
Increase (decrease) resulting from: | |||||||||||||
Effect of tax-exempt income | (7,282 | ) | (7,558 | ) | (6,633 | ) | |||||||
Interest and other nondeductible expenses | 2,007 | 1,847 | 1,487 | ||||||||||
State taxes | 3,237 | 4,938 | 3,034 | ||||||||||
Tax credits | (11,690 | ) | (8,756 | ) | (6,734 | ) | |||||||
Other | 1,257 | 1,313 | 1,145 | ||||||||||
$ | 15,869 | $ | 28,496 | $ | 16,981 | ||||||||
Effective tax rate | 19.6 | % | 27.2 | % | 24.1 | % | |||||||
Deferred Tax Assets and Liabilities | ' | ||||||||||||
The net deferred tax asset at December 31, 2013 and net deferred tax liability at December 31, 2012 is as follows: | |||||||||||||
(Dollars in thousands) | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax asset: | |||||||||||||
NOL carryforward | $ | 1,001 | $ | 1,720 | |||||||||
Allowance for credit losses | 85,101 | 78,817 | |||||||||||
Discount on purchased loans | — | 158 | |||||||||||
Deferred compensation | 6,315 | 5,193 | |||||||||||
Unrealized loss on cash flow hedges | — | 471 | |||||||||||
Unrealized loss on available for sale investments | 8,880 | — | |||||||||||
Basis difference in acquired assets | 70,136 | 120,893 | |||||||||||
OREO | 31,943 | 18,467 | |||||||||||
Other | 19,509 | 20,419 | |||||||||||
222,885 | 246,138 | ||||||||||||
Deferred tax liability: | |||||||||||||
Basis difference in acquired assets | (130,426 | ) | (170,860 | ) | |||||||||
Gain on acquisition | (17,693 | ) | (34,358 | ) | |||||||||
FHLB stock | (36 | ) | (19 | ) | |||||||||
Premises and equipment | (10,209 | ) | (13,050 | ) | |||||||||
Acquisition intangibles | (12,113 | ) | (11,267 | ) | |||||||||
Deferred loan costs | (2,915 | ) | (3,405 | ) | |||||||||
Unrealized gain on available for sale investments | — | (13,650 | ) | ||||||||||
Investments acquired | (235 | ) | (224 | ) | |||||||||
Swap gain | (75 | ) | (2 | ) | |||||||||
Other | (11,089 | ) | (14,300 | ) | |||||||||
(184,791 | ) | (261,135 | ) | ||||||||||
$ | 38,094 | $ | (14,997 | ) | |||||||||
Shareholders_Equity_and_Other_1
Shareholders' Equity and Other Comprehensive Income (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 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 years ended December 31 for the periods indicated: | |||||||||||||
2013 | |||||||||||||
(Dollars in thousands) | Before | Tax Expense | Net-of-Tax | ||||||||||
Tax | (Benefit) | Amount | |||||||||||
Unrealized loss on securities: | |||||||||||||
Unrealized holding losses arising during the period | $ | (62,095 | ) | $ | 21,733 | $ | (40,362 | ) | |||||
Less: reclassification adjustment for gains included in net income | (2,277 | ) | 797 | (1,480 | ) | ||||||||
Net unrealized losses | (64,372 | ) | 22,530 | (41,842 | ) | ||||||||
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 | $ | 953 | $ | (333 | ) | $ | 620 | ||||||
Less: reclassification adjustment for losses included in net income | 391 | (137 | ) | 254 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | 1,344 | (470 | ) | 874 | |||||||||
Total other comprehensive loss | $ | (63,028 | ) | $ | 22,060 | $ | (40,968 | ) | |||||
2012 | |||||||||||||
(Dollars in thousands) | Before | Tax Expense | Net-of-Tax | ||||||||||
Tax | (Benefit) | Amount | |||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding gains arising during the period | $ | 2,174 | $ | (761 | ) | $ | 1,413 | ||||||
Less: reclassification adjustment for gains included in net income | (3,739 | ) | 1,308 | (2,431 | ) | ||||||||
Net unrealized gains | (1,565 | ) | 547 | (1,018 | ) | ||||||||
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 | $ | (22 | ) | $ | 8 | $ | (14 | ) | |||||
Less: reclassification adjustment for losses included in net income | 1,618 | (566 | ) | 1,052 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | 1,596 | (558 | ) | 1,038 | |||||||||
Total other comprehensive income | $ | 31 | $ | (11 | ) | $ | 20 | ||||||
2011 | |||||||||||||
(Dollars in thousands) | Before | Tax Expense | Net-of-Tax | ||||||||||
Tax | (Benefit) | Amount | |||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding gains arising during the period | $ | 36,328 | $ | (12,715 | ) | $ | 23,613 | ||||||
Other-than-temporary impairment realized in net income | (509 | ) | 178 | (331 | ) | ||||||||
Less: reclassification adjustment for gains included in net income | (3,422 | ) | 1,198 | (2,224 | ) | ||||||||
Net unrealized gains | 32,397 | (11,339 | ) | 21,058 | |||||||||
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 | $ | (19,078 | ) | $ | 6,677 | $ | (12,401 | ) | |||||
Less: reclassification adjustment for losses included in net income | 1,723 | (603 | ) | 1,120 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | (17,355 | ) | 6,074 | (11,281 | ) | ||||||||
Total other comprehensive income | $ | 15,042 | $ | (5,265 | ) | $ | 9,777 | ||||||
Capital_Requirements_and_Other1
Capital Requirements and Other Regulatory Matters (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Actual Capital Amounts and Ratio's | ' | ||||||||||||||||||||||||
The Company’s and IBERIABANK’s actual capital amounts and ratios as of December 31, 2013 and 2012 are presented in the following table. | |||||||||||||||||||||||||
(Dollars in thousands) | December 31, 2013 | ||||||||||||||||||||||||
Minimum | Well Capitalized | Actual | |||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
Tier 1 Leverage | |||||||||||||||||||||||||
Consolidated | $ | 507,760 | 4 | % | $ | N/A | N/A | % | $ | 1,231,886 | 9.7 | % | |||||||||||||
IBERIABANK | 505,723 | 4 | 632,154 | 5 | 1,069,783 | 8.46 | |||||||||||||||||||
Tier 1 risk-based capital | |||||||||||||||||||||||||
Consolidated | $ | 426,002 | 4 | % | $ | N/A | N/A | % | $ | 1,231,886 | 11.57 | % | |||||||||||||
IBERIABANK | 424,578 | 4 | 636,868 | 6 | 1,069,783 | 10.08 | |||||||||||||||||||
Total risk-based capital | |||||||||||||||||||||||||
Consolidated | $ | 852,005 | 8 | % | $ | N/A | N/A | % | $ | 1,365,280 | 12.82 | % | |||||||||||||
IBERIABANK | 849,157 | 8 | 1,061,446 | 10 | 1,202,738 | 11.33 | |||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Minimum | Well Capitalized | Actual | |||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
Tier 1 Leverage | |||||||||||||||||||||||||
Consolidated | $ | 488,803 | 4 | % | $ | N/A | N/A | % | $ | 1,185,144 | 9.7 | % | |||||||||||||
IBERIABANK | 486,307 | 4 | 607,884 | 5 | 1,041,540 | 8.57 | |||||||||||||||||||
Tier 1 risk-based capital | |||||||||||||||||||||||||
Consolidated | $ | 366,792 | 4 | % | $ | N/A | N/A | % | $ | 1,185,144 | 12.92 | % | |||||||||||||
IBERIABANK | 365,230 | 4 | 547,845 | 6 | 1,041,540 | 11.41 | |||||||||||||||||||
Total risk-based capital | |||||||||||||||||||||||||
Consolidated | $ | 733,583 | 8 | % | $ | N/A | N/A | % | $ | 1,301,498 | 14.19 | % | |||||||||||||
IBERIABANK | 730,461 | 8 | 913,076 | 10 | 1,157,412 | 12.68 | |||||||||||||||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Compensation Expense Included in Noninterest Expense and Related Income Tax Benefits | ' | ||||||||||||||||||
The following table represents the compensation expense that is included in non-interest expense and related income tax benefits in the accompanying consolidated statements of comprehensive income related to stock options for the years ended December 31 of the periods indicated: | |||||||||||||||||||
(Dollars in thousands, except per share data) | 2013 | 2012 | 2011 | ||||||||||||||||
Compensation expense related to stock options | $ | 2,110 | $ | 1,873 | $ | 1,343 | |||||||||||||
Income tax benefit related to stock options | 739 | 656 | 470 | ||||||||||||||||
Impact on basic earnings per share | 0.05 | 0.04 | 0.03 | ||||||||||||||||
Impact on diluted earnings per share | 0.05 | 0.04 | 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 years ended December 31st: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Expected dividends | 2.6 | % | 2.7 | % | 2.4 | % | |||||||||||||
Expected volatility | 34.8 | % | 40.1 | % | 35.5 | % | |||||||||||||
Risk-free interest rate | 1.7 | % | 0.8 | % | 1.5 | % | |||||||||||||
Expected term (in years) | 8.6 | 5 | 4 | ||||||||||||||||
Weighted-average grant-date fair value | $ | 15.37 | $ | 14.5 | $ | 12.83 | |||||||||||||
Activity Related to Stock Options | ' | ||||||||||||||||||
The following table represents the activity related to stock options during the periods indicated. | |||||||||||||||||||
Number of shares | Weighted Average | Weighted Average | |||||||||||||||||
Exercise Price | Remaining Contract Life | ||||||||||||||||||
Outstanding options, December 31, 2010 | 1,301,539 | $ | 45.52 | ||||||||||||||||
Granted | 55,121 | 55.15 | |||||||||||||||||
Issued in connection with acquisition | 41,975 | 72.35 | |||||||||||||||||
Exercised | (264,647 | ) | 30.99 | ||||||||||||||||
Forfeited or expired | (36,368 | ) | 57.51 | ||||||||||||||||
Outstanding options, December 31, 2011 | 1,097,620 | $ | 50.14 | ||||||||||||||||
Granted | 230,665 | 51.69 | |||||||||||||||||
Issued in connection with acquisition | 32,863 | 41.3 | |||||||||||||||||
Exercised | (92,092 | ) | 30.43 | ||||||||||||||||
Forfeited or expired | (32,981 | ) | 56.79 | ||||||||||||||||
Outstanding options, December 31, 2012 | 1,236,075 | $ | 51.48 | ||||||||||||||||
Granted | 75,722 | 52.36 | |||||||||||||||||
Exercised | (200,748 | ) | 40.35 | ||||||||||||||||
Forfeited or expired | (38,220 | ) | 55.87 | ||||||||||||||||
Outstanding options, December 31, 2013 | 1,072,829 | $ | 53.47 | 4.7 Years | |||||||||||||||
Outstanding exercisable at December 31, 2011 | 789,952 | $ | 47.64 | ||||||||||||||||
Outstanding exercisable at December 31, 2012 | 792,444 | 50.05 | |||||||||||||||||
Outstanding exercisable at December 31, 2013 | 707,934 | 53.54 | 3.1 Years | ||||||||||||||||
Schedule of Weighted Average Remaining Life of Options Outstanding within Stated Exercise Prices | ' | ||||||||||||||||||
The following table presents weighted average remaining life as of December 31, 2013 for options outstanding within the stated exercise prices: | |||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||
Exercise Price Range Per Share | Number of | Weighted Average | Weighted Average | Number of | Weighted Average | ||||||||||||||
Options | Exercise Price | Remaining Life | Options | Exercise Price | |||||||||||||||
$26.82 to $45.58 | 72,333 | $ | 42.61 | 1.4 Years | 72,047 | $ | 42.61 | ||||||||||||
$45.59 to $48.35 | 150,564 | 46.91 | 1.6 Years | 140,696 | 46.91 | ||||||||||||||
$48.36 to $51.69 | 173,624 | 50.15 | 5.1 Years | 91,673 | 49.46 | ||||||||||||||
$51.70 to $55.42 | 275,968 | 53 | 7.7 Years | 90,084 | 53.91 | ||||||||||||||
$55.43 to $58.34 | 202,415 | 56.97 | 3.9 Years | 158,166 | 57.19 | ||||||||||||||
$58.35 to $111.71 | 197,925 | 62.42 | 4.3 Years | 155,268 | 63.09 | ||||||||||||||
Total options | 1,072,829 | $ | 53.47 | 4.7 Years | 707,934 | $ | 53.54 | ||||||||||||
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 non-interest expense in the accompanying consolidated statements of comprehensive income related to restricted stock grants for the years ended December 31st: | |||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||
Compensation expense related to restricted stock | $ | 8,593 | $ | 8,035 | $ | 7,258 | |||||||||||||
Unvested Restricted Stock Award Activity | ' | ||||||||||||||||||
The following table represents unvested restricted stock award activity for the years ended December 31: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Balance at beginning of period | 538,202 | 512,112 | 539,195 | ||||||||||||||||
Granted | 167,095 | 176,669 | 139,509 | ||||||||||||||||
Forfeited | (28,713 | ) | (13,164 | ) | (35,823 | ) | |||||||||||||
Earned and issued | (152,828 | ) | (137,415 | ) | (130,769 | ) | |||||||||||||
Balance at end of period | 523,756 | 538,202 | 512,112 | ||||||||||||||||
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, 2010 | 119,194 | 3,741 | 122,935 | $ | 7,269,000 | ||||||||||||||
Granted | 131,099 | 6,152 | 137,251 | 6,766,000 | |||||||||||||||
Forfeited share equivalents | (5,917 | ) | (179 | ) | (6,096 | ) | 301,000 | ||||||||||||
Vested share equivalents | (11,455 | ) | (772 | ) | (12,227 | ) | 622,000 | ||||||||||||
Balance, December 31, 2011 | 232,921 | 8,942 | 241,863 | $ | 11,924,000 | ||||||||||||||
Granted | 119,038 | 9,152 | 128,190 | 6,297,000 | |||||||||||||||
Forfeited share equivalents | (10,949 | ) | (367 | ) | (11,316 | ) | 556,000 | ||||||||||||
Vested share equivalents | (22,281 | ) | (1,692 | ) | (23,973 | ) | 1,180,000 | ||||||||||||
Balance, December 31, 2012 | 318,729 | 16,035 | 334,764 | $ | 16,444,000 | ||||||||||||||
Granted | 169,662 | 11,189 | 180,851 | 11,366,000 | |||||||||||||||
Forfeited share equivalents | (18,975 | ) | (785 | ) | (19,760 | ) | 1,242,000 | ||||||||||||
Vested share equivalents | (52,178 | ) | (4,088 | ) | (56,266 | ) | 2,922,000 | ||||||||||||
Balance, December 31, 2013 | 417,238 | 22,351 | 439,589 | $ | 27,628,000 | ||||||||||||||
-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 $62.85, $49.12, and $49.30 on December 31, 2013, 2012, and 2011, respectively. | ||||||||||||||||||
Phantom Stock Awards [Member] | ' | ||||||||||||||||||
Compensation Expense Included in Noninterest 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 periods indicated and the current market price of the Company’s stock at that time. | |||||||||||||||||||
For the Year Ended December 31, | |||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||
Compensation expense related to phantom stock | $ | 4,855 | $ | 2,185 | $ | 1,368 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Summary of Financial Instruments Outstanding | ' | ||||||||
At December 31, 2013 and 2012, the Company had the following financial instruments outstanding, whose contract amounts represent credit risk: | |||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||
Commitments to grant loans | $ | 221,627 | $ | 192,295 | |||||
Unfunded commitments under lines of credit | 3,326,448 | 2,372,971 | |||||||
Commercial and standby letters of credit | 105,026 | 62,207 | |||||||
Reserve for unfunded lending commitments | 11,147 | — |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Summary of Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance for Mortgage Loans Held for Sale | ' | ||||||||||||||||
The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for mortgage loans held for sale measured at fair value: | |||||||||||||||||
(Dollars in thousands) | December 31, 2013 | ||||||||||||||||
Aggregate | Aggregate | Aggregate Fair Value | |||||||||||||||
Fair Value | Unpaid Principal | Less Unpaid Principal | |||||||||||||||
Mortgage loans held for sale, at fair value | $ | 97,273 | $ | 96,875 | $ | 398 | |||||||||||
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) | December 31, 2013 | ||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||
Assets | |||||||||||||||||
Available for sale securities | $ | 15,496 | $ | 1,921,301 | $ | — | $ | 1,936,797 | |||||||||
Mortgage loans held for sale | — | 97,273 | — | 97,273 | |||||||||||||
Derivative instruments | — | 30,076 | — | 30,076 | |||||||||||||
Total | $ | 15,496 | $ | 2,048,650 | $ | — | $ | 2,064,146 | |||||||||
Liabilities | |||||||||||||||||
Derivative instruments | — | 26,735 | — | 26,735 | |||||||||||||
Total | $ | — | $ | 26,735 | $ | — | $ | 26,735 | |||||||||
31-Dec-12 | |||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||
Assets | |||||||||||||||||
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) during 2013 related to assets and liabilities measured at fair value on a recurring basis are reported in non-interest 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) | $ | (2,862 | ) | $ | — | ||||||||||||
Change in unrealized gains (losses) relating to assets still held at December 31, 2013 | — | (40,968 | ) | ||||||||||||||
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. | |||||||||||||||||
(Dollars in thousands) | December 31, 2013 | ||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||
Assets | |||||||||||||||||
Loans | $ | — | $ | 3,070 | $ | — | $ | 3,070 | |||||||||
Mortgage loans held for sale | — | 11,876 | — | 11,876 | |||||||||||||
OREO | — | 14,598 | — | 14,598 | |||||||||||||
Total | $ | — | $ | 29,544 | $ | — | $ | 29,544 | |||||||||
(Dollars in thousands) | 31-Dec-12 | ||||||||||||||||
(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) | 12 Months Ended | ||||||||||||||||
Dec. 31, 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: | |||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||
(Dollars in thousands) | Carrying | Fair | Carrying | Fair | |||||||||||||
Amount | Value | Amount | Value | ||||||||||||||
Financial Assets | |||||||||||||||||
Cash and cash equivalents | $ | 391,396 | $ | 391,396 | $ | 626,517 | $ | 626,517 | |||||||||
Investment securities | 2,090,906 | 2,089,363 | 2,149,990 | 1,956,502 | |||||||||||||
Loans and loans held for sale | 9,620,461 | 9,724,432 | 8,783,011 | 8,800,563 | |||||||||||||
FDIC loss share receivable | 162,312 | 21,918 | 284,471 | 207,222 | |||||||||||||
Derivative instruments | 30,076 | 30,076 | 42,119 | 42,119 | |||||||||||||
Accrued interest receivable | 32,143 | 32,143 | 32,707 | 32,707 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | $ | 10,737,000 | $ | 10,226,573 | $ | 10,686,268 | $ | 10,594,885 | |||||||||
Short-term borrowings | 680,344 | 680,344 | 294,156 | 294,156 | |||||||||||||
Long-term debt | 280,699 | 235,503 | 323,046 | 394,490 | |||||||||||||
Derivative instruments | 26,735 | 26,735 | 36,890 | 36,890 | |||||||||||||
Accrued interest payable | 6,102 | 6,102 | 6,421 | 6,421 |
Business_Segments_Tables
Business Segments (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Schedule of Discontinued Operations | ' | ||||||||||||||||
(Dollars in thousands) | Year Ended December 31, 2013 | ||||||||||||||||
IBERIABANK | IMC | Lenders | Consolidated | ||||||||||||||
Interest income | $ | 431,418 | $ | 5,747 | $ | 32 | $ | 437,197 | |||||||||
Interest expense | 45,150 | 1,803 | — | 46,953 | |||||||||||||
Net interest income | 386,268 | 3,944 | 32 | 390,244 | |||||||||||||
Provision for loan losses | 5,123 | 22 | — | 5,145 | |||||||||||||
Mortgage income | 2 | 64,195 | — | 64,197 | |||||||||||||
Title income | — | — | 20,526 | 20,526 | |||||||||||||
Other non-interest income | 84,243 | (10 | ) | 2 | 84,235 | ||||||||||||
Core deposit intangible amortization | 4,499 | — | — | 4,499 | |||||||||||||
Allocated expenses | (7,453 | ) | 5,417 | 2,036 | — | ||||||||||||
Other non-interest expenses | 402,170 | 49,723 | 16,693 | 468,586 | |||||||||||||
Income before income taxes | 66,174 | $ | 12,967 | $ | 1,831 | $ | 80,972 | ||||||||||
Income tax provision (benefit) | 10,035 | 5,093 | 741 | 15,869 | |||||||||||||
Net income (loss) | $ | 56,139 | $ | 7,874 | $ | 1,090 | $ | 65,103 | |||||||||
Total loans and loans held for sale | $ | 9,472,908 | $ | 147,553 | $ | — | $ | 9,620,461 | |||||||||
Total assets | 13,168,162 | 173,131 | 24,257 | 13,365,550 | |||||||||||||
Total deposits | 10,735,030 | 2,970 | (1,000 | ) | 10,737,000 | ||||||||||||
Average assets | 12,795,123 | 183,513 | 25,352 | 13,003,988 | |||||||||||||
(Dollars in thousands) | Year Ended December 31, 2012 | ||||||||||||||||
IBERIABANK | IMC | Lenders | Consolidated | ||||||||||||||
Interest income | $ | 439,245 | $ | 5,858 | $ | 97 | $ | 445,200 | |||||||||
Interest expense | 61,349 | 2,101 | — | 63,450 | |||||||||||||
Net interest income | 377,896 | 3,757 | 97 | 381,750 | |||||||||||||
Provision for loan losses | 20,550 | 121 | — | 20,671 | |||||||||||||
Mortgage income | 6 | 78,047 | — | 78,053 | |||||||||||||
Title income | — | — | 20,987 | 20,987 | |||||||||||||
Other non-interest income | 76,967 | (10 | ) | — | 76,957 | ||||||||||||
Core deposit intangible amortization | 4,900 | — | — | 4,900 | |||||||||||||
Allocated expenses | (3,282 | ) | 2,340 | 942 | — | ||||||||||||
Other non-interest expenses | 361,428 | 49,084 | 16,773 | 427,285 | |||||||||||||
Income before income taxes | 71,273 | 30,249 | 3,369 | 104,891 | |||||||||||||
Income tax provision (benefit) | 15,192 | 11,871 | 1,433 | 28,496 | |||||||||||||
Net income (loss) | $ | 56,081 | $ | 18,378 | $ | 1,936 | $ | 76,395 | |||||||||
Total loans and loans held for sale | $ | 8,485,363 | $ | 280,692 | $ | — | $ | 8,766,055 | |||||||||
Total assets | 12,796,811 | 308,152 | 24,715 | 13,129,678 | |||||||||||||
Total deposits | 10,745,528 | 2,749 | — | 10,748,277 | |||||||||||||
Average assets | 11,879,761 | 194,832 | 22,379 | 12,096,972 | |||||||||||||
(Dollars in thousands) | Year Ended December 31, 2011 | ||||||||||||||||
IBERIABANK | IMC | Lenders | Consolidated | ||||||||||||||
Interest income | $ | 416,118 | $ | 3,917 | $ | 292 | $ | 420,327 | |||||||||
Interest expense | 80,861 | 808 | 400 | 82,069 | |||||||||||||
Net interest income | 335,257 | 3,109 | (108 | ) | 338,258 | ||||||||||||
Provision for loan losses | 25,706 | 161 | — | 25,867 | |||||||||||||
Mortgage income | (114 | ) | 45,291 | — | 45,177 | ||||||||||||
Title income | — | — | 18,048 | 18,048 | |||||||||||||
Other non-interest income | 68,631 | 3 | — | 68,634 | |||||||||||||
Core deposit intangible amortization | 4,961 | — | — | 4,961 | |||||||||||||
Allocated expenses | (2,649 | ) | 1,747 | 902 | — | ||||||||||||
Other non-interest expenses | 315,406 | 36,320 | 17,044 | 368,770 | |||||||||||||
Income before income taxes | 60,350 | 10,175 | (6 | ) | 70,519 | ||||||||||||
Income tax provision (benefit) | 12,921 | 3,993 | 67 | 16,981 | |||||||||||||
Net income (loss) | $ | 47,429 | $ | 6,182 | $ | (73 | ) | $ | 53,538 | ||||||||
Total loans and loans held for sale | $ | 7,377,540 | $ | 163,510 | $ | — | $ | 7,541,050 | |||||||||
Total assets | 11,550,594 | 181,261 | 26,073 | 11,757,928 | |||||||||||||
Total deposits | 9,287,929 | 1,079 | 5 | 9,289,013 | |||||||||||||
Average assets | 10,756,795 | 106,773 | 26,622 | 10,890,190 |
Condensed_Parent_Company_Only_1
Condensed Parent Company Only Financial Statements (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Condensed Balance Sheets | ' | ||||||||||||
Condensed financial statements of IBERIABANK Corporation (parent company only) are shown below. The parent company has no significant operating activities. | |||||||||||||
Condensed Balance Sheets | |||||||||||||
December 31, 2013 and 2012 | |||||||||||||
(Dollars in thousands) | |||||||||||||
2013 | 2012 | ||||||||||||
Assets | |||||||||||||
Cash in bank | $ | 98,108 | $ | 63,207 | |||||||||
Investment in subsidiaries | 1,487,337 | 1,506,671 | |||||||||||
Other assets | 80,528 | 89,966 | |||||||||||
$ | 1,665,973 | $ | 1,659,844 | ||||||||||
Liabilities and Shareholders’ Equity | |||||||||||||
Liabilities | $ | 134,994 | $ | 129,976 | |||||||||
Shareholders’ Equity | 1,530,979 | 1,529,868 | |||||||||||
$ | 1,665,973 | $ | 1,659,844 | ||||||||||
Condensed Statements of Income | ' | ||||||||||||
Condensed Statements of Income | |||||||||||||
Years Ended December 31, 2013, 2012 and 2011 | |||||||||||||
(Dollars in thousands) | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Operating income | |||||||||||||
Dividends from bank subsidiary | $ | 49,000 | $ | 70,000 | $ | — | |||||||
Dividends from non-bank subsidiaries | 1,511 | — | — | ||||||||||
Reimbursement of management expenses | 34,474 | 94,053 | 74,664 | ||||||||||
Other income | 869 | (836 | ) | (1,176 | ) | ||||||||
Total operating income | 85,854 | 163,217 | 73,488 | ||||||||||
Operating expenses | |||||||||||||
Interest expense | 3,232 | 3,427 | 2,101 | ||||||||||
Salaries and employee benefits expense | 29,159 | 76,527 | 63,505 | ||||||||||
Other expenses | 13,676 | 47,309 | 33,546 | ||||||||||
Total operating expenses | 46,067 | 127,263 | 99,152 | ||||||||||
Income (loss) before income tax (expense) benefit and increase in equity in undistributed earnings of subsidiaries | 39,787 | 35,954 | (25,664 | ) | |||||||||
Income tax benefit | (2,808 | ) | (11,842 | ) | (8,219 | ) | |||||||
Income (loss) before equity in undistributed earnings of subsidiaries | 42,595 | 47,796 | (17,445 | ) | |||||||||
Equity in undistributed earnings of subsidiaries | 22,508 | 28,599 | 70,983 | ||||||||||
Net income | $ | 65,103 | $ | 76,395 | $ | 53,538 | |||||||
Condensed Statements of Cash Flows | ' | ||||||||||||
Condensed Statements of Cash Flows | |||||||||||||
Years Ended December 31, 2013, 2012, and 2011 | |||||||||||||
(Dollars in thousands) | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cash Flow from Operating Activities | |||||||||||||
Net income | $ | 65,103 | $ | 76,395 | $ | 53,538 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||
Depreciation and amortization | 2,035 | 4,926 | 1,071 | ||||||||||
Net income of subsidiaries | (73,019 | ) | (98,599 | ) | (70,983 | ) | |||||||
Noncash compensation expense | 10,703 | 9,907 | 9,114 | ||||||||||
Loss on sale of assets | — | 7 | — | ||||||||||
Derivative losses on swaps | — | 2 | — | ||||||||||
Tax benefit associated with share-based payment arrangements | (886 | ) | (1,221 | ) | (1,454 | ) | |||||||
Other, net | 7,575 | (10,557 | ) | (23,278 | ) | ||||||||
Net Cash Provided by (Used in) Operating Activities | 11,511 | (19,140 | ) | (31,992 | ) | ||||||||
Cash Flow from Investing Activities | |||||||||||||
Cash received in excess of cash paid in acquisition | — | 1,272 | — | ||||||||||
Proceeds from sale of premises and equipment | 11,751 | 5 | 10 | ||||||||||
Purchases of premises and equipment | (5,247 | ) | (4,173 | ) | (3,655 | ) | |||||||
Capital contributed to subsidiary | — | (2,000 | ) | (12,963 | ) | ||||||||
Dividends received from subsidiaries | 50,511 | 70,000 | — | ||||||||||
Acquisition | — | — | — | ||||||||||
Net Cash Provided by (Used In) Investing Activities | 57,015 | 65,104 | (16,608 | ) | |||||||||
Cash Flow from Financing Activities | |||||||||||||
Proceeds from long-term debt | — | — | — | ||||||||||
Repayments of long-term debt | — | (2,867 | ) | (13,500 | ) | ||||||||
Dividends paid to shareholders | (40,332 | ) | (40,069 | ) | (38,558 | ) | |||||||
Proceeds from sale of treasury stock for stock options exercised | 8,101 | 2,813 | 6,807 | ||||||||||
Payments to repurchase common stock | (2,280 | ) | (42,245 | ) | (43,219 | ) | |||||||
Tax benefit associated with share-based payment arrangements | 886 | 1,221 | 1,454 | ||||||||||
Net Cash Used In Financing Activities | (33,625 | ) | (81,147 | ) | (87,016 | ) | |||||||
Net Increase (Decrease) in Cash and Cash Equivalents | 34,901 | (35,183 | ) | (135,616 | ) | ||||||||
Cash and Cash Equivalents at Beginning of Period | 63,207 | 98,390 | 234,006 | ||||||||||
Cash and Cash Equivalents at End of Period | $ | 98,108 | $ | 63,207 | $ | 98,390 | |||||||
Quarterly_Results_of_Operation1
Quarterly Results of Operations and Selected Cash Flow Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Results of Operations | ' | ||||||||||||||||
2013 | |||||||||||||||||
(Dollars in thousands, except per share data) | Fourth Quarter | Third Quarter | Second Quarter | First Quarter | |||||||||||||
Total interest income | $ | 114,092 | $ | 108,512 | $ | 108,177 | $ | 106,416 | |||||||||
Total interest expense | 10,654 | 11,060 | 11,695 | 13,545 | |||||||||||||
Net interest income | 103,438 | 97,452 | 96,482 | 92,871 | |||||||||||||
Provision for (Reversal of) loan losses | 4,700 | 2,014 | 1,807 | (3,377 | ) | ||||||||||||
Net interest income after provision for loan losses | 98,738 | 95,438 | 94,675 | 96,248 | |||||||||||||
Gain (loss) on sale of investments, net | 19 | 13 | (57 | ) | 2,359 | ||||||||||||
Other noninterest income | 38,696 | 43,250 | 42,546 | 42,132 | |||||||||||||
Noninterest expense | 102,674 | 108,152 | 117,361 | 144,898 | |||||||||||||
Income (loss) before income taxes | 34,779 | 30,549 | 19,803 | (4,159 | ) | ||||||||||||
Income tax expense (benefit) | 9,175 | 7,357 | 4,213 | (4,876 | ) | ||||||||||||
Net income | $ | 25,604 | $ | 23,192 | $ | 15,590 | $ | 717 | |||||||||
Preferred stock dividends | — | — | — | — | |||||||||||||
Income available to common shareholders | 25,604 | 23,192 | 15,590 | 717 | |||||||||||||
Earnings allocated to unvested restricted stock | (456 | ) | (425 | ) | (293 | ) | (20 | ) | |||||||||
Earnings available to common shareholders - Diluted | $ | 25,148 | $ | 22,767 | $ | 15,297 | $ | 697 | |||||||||
Earnings per share - Basic | $ | 0.86 | $ | 0.78 | $ | 0.53 | $ | 0.02 | |||||||||
Earnings per share - Diluted | 0.86 | 0.78 | 0.53 | 0.02 | |||||||||||||
Cash dividends declared per common share | 0.34 | 0.34 | 0.34 | 0.34 | |||||||||||||
2012 | |||||||||||||||||
Fourth Quarter | Third Quarter | Second Quarter | First Quarter | ||||||||||||||
Total interest income | $ | 114,779 | $ | 111,951 | $ | 109,283 | $ | 109,187 | |||||||||
Total interest expense | 14,789 | 15,225 | 16,111 | 17,326 | |||||||||||||
Net interest income | 99,990 | 96,726 | 93,172 | 91,861 | |||||||||||||
Provision for loan losses | 4,866 | 4,053 | 8,895 | 2,857 | |||||||||||||
Net interest income after provision for loan losses | 95,124 | 92,673 | 84,277 | 89,004 | |||||||||||||
Gain (loss) on sale of investments, net | (4 | ) | 41 | 901 | 2,836 | ||||||||||||
Other noninterest income | 50,358 | 46,512 | 40,793 | 34,560 | |||||||||||||
Noninterest expense | 113,441 | 109,848 | 109,022 | 99,873 | |||||||||||||
Income before income taxes | 32,037 | 29,378 | 16,949 | 26,527 | |||||||||||||
Income tax expense | 8,829 | 8,144 | 4,389 | 7,134 | |||||||||||||
Net income | $ | 23,208 | $ | 21,234 | $ | 12,560 | $ | 19,393 | |||||||||
Preferred stock dividends | — | — | — | — | |||||||||||||
Income available to common shareholders | 23,208 | 21,234 | 12,560 | 19,393 | |||||||||||||
Earnings allocated to unvested restricted stock | (428 | ) | (406 | ) | (240 | ) | (364 | ) | |||||||||
Earnings available to common shareholders - Diluted | $ | 22,780 | $ | 20,828 | $ | 12,320 | $ | 19,029 | |||||||||
Earnings per share - Basic | $ | 0.79 | $ | 0.73 | $ | 0.43 | $ | 0.66 | |||||||||
Earnings per share - Diluted | 0.79 | 0.73 | 0.43 | 0.66 | |||||||||||||
Cash dividends declared per common share | 0.34 | 0.34 | 0.34 | 0.34 |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Required reserve cash balances | $6,709,000 | $2,555,000 | ' |
Number of days due to be considered for accrual interest on loans discontinued (in days) | '90 days | ' | ' |
Number of days due to be considered for accrual interest on loans discontinued for mortgage, credit card & personal loan (in days) | '180 days | ' | ' |
Rate lock period (days) | '60 days | ' | ' |
Amortized intangible assets average life (in years) | '10 years | ' | ' |
Property write-downs | $4,813,000 | $6,409,000 | $7,250,000 |
Customer Relationship [Member] | ' | ' | ' |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Amortized intangible assets average life (in years) | '9 years 6 months | ' | ' |
Minimum [Member] | Buildings [Member] | ' | ' | ' |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Premises and equipment, useful life | '10 years | ' | ' |
Minimum [Member] | Furniture, Fixtures and Equipment [Member] | ' | ' | ' |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Premises and equipment, useful life | '3 years | ' | ' |
Maximum [Member] | Buildings [Member] | ' | ' | ' |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Premises and equipment, useful life | '40 years | ' | ' |
Maximum [Member] | Furniture, Fixtures and Equipment [Member] | ' | ' | ' |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Premises and equipment, useful life | '15 years | ' | ' |
Commercial [Member] | ' | ' | ' |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Loss sharing indemnification agreements, terms | '5 years | ' | ' |
Single Family Residential [Member] | ' | ' | ' |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Loss sharing indemnification agreements, terms | '10 years | ' | ' |
IBERIABANK Corporation [Member] | ' | ' | ' |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Number of operating states | 6 | ' | ' |
IMC [Member] | ' | ' | ' |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Number of operating states | 12 | ' | ' |
Recent_Accounting_Pronouncemen1
Recent Accounting Pronouncements - Additional Information (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Changes And Error Corrections [Abstract] | ' |
Amortization expense | $23,324,000 |
Earnings_Per_Share_Schedule_of
Earnings Per Share - Schedule of Calculation of Basic and Diluted Earnings Per Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share, Basic And Diluted, By Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income available to common shareholders | $25,604 | $23,192 | $15,590 | $717 | $23,208 | $21,234 | $12,560 | $19,393 | $65,103 | $76,395 | $53,538 |
Distributed earnings to common shareholders - basic | ' | ' | ' | ' | ' | ' | ' | ' | 63,897 | 74,952 | 52,550 |
Distributed and undistributed earnings to common shareholders - diluted | ' | ' | ' | ' | ' | ' | ' | ' | 63,894 | 74,958 | 52,571 |
Weighted average shares outstanding - basic | ' | ' | ' | ' | ' | ' | ' | ' | 29,605,088 | 29,454,084 | 28,500,420 |
Weighted average shares outstanding - diluted | ' | ' | ' | ' | ' | ' | ' | ' | 29,105,098 | 28,957,696 | 28,141,300 |
Earnings per common share - basic | $0.86 | $0.78 | $0.53 | $0.02 | $0.79 | $0.73 | $0.43 | $0.66 | $2.20 | $2.59 | $1.88 |
Earnings per common share - diluted | $0.86 | $0.78 | $0.53 | $0.02 | $0.79 | $0.73 | $0.43 | $0.66 | $2.20 | $2.59 | $1.87 |
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 | ' | ' | ' | ' | ' | ' | ' | ' | -1,206 | -1,443 | -988 |
Undistributed earnings reallocated to unvested restricted stock | ' | ' | ' | ' | ' | ' | ' | ' | ($3) | $6 | $21 |
Earnings per common share - basic | ' | ' | ' | ' | ' | ' | ' | ' | $2.18 | $2.61 | $2.04 |
Earnings per common share - diluted | ' | ' | ' | ' | ' | ' | ' | ' | $2.18 | $2.60 | $2 |
Earnings_Per_Share_Schedule_of1
Earnings Per Share - Schedule of Calculation of Basic and Diluted Earnings Per Share (Parenthetical) (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Earnings Per Share [Abstract] | ' | ' | ' |
Weighted average basic shares outstanding, unvested restricted stock | 553,016 | 552,609 | 484,361 |
Earnings_Per_Share_Schedule_of2
Earnings Per Share - Schedule of Basic Earnings Per Common Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributed earnings | ' | ' | ' | ' | ' | ' | ' | ' | $39,685 | $39,349 | $38,681 |
Undistributed earnings to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | 24,212 | 35,603 | 13,869 |
Total earnings to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | 63,897 | 74,952 | 52,550 |
Distributed earnings | ' | ' | ' | ' | ' | ' | ' | ' | $1.37 | $1.36 | $1.38 |
Undistributed earnings per common share | ' | ' | ' | ' | ' | ' | ' | ' | $0.83 | $1.23 | $0.50 |
Total earnings per common share - basic | $0.86 | $0.78 | $0.53 | $0.02 | $0.79 | $0.73 | $0.43 | $0.66 | $2.20 | $2.59 | $1.88 |
Unvested Restricted Stock [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributed earnings | ' | ' | ' | ' | ' | ' | ' | ' | 749 | 758 | 727 |
Undistributed earnings to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | 457 | 685 | 261 |
Total earnings allocated to unvested restricted stock | ' | ' | ' | ' | ' | ' | ' | ' | $1,206 | $1,443 | $988 |
Distributed earnings | ' | ' | ' | ' | ' | ' | ' | ' | $1.35 | $1.37 | $1.50 |
Undistributed earnings per common share | ' | ' | ' | ' | ' | ' | ' | ' | $0.83 | $1.24 | $0.54 |
Total earnings per common share - basic | ' | ' | ' | ' | ' | ' | ' | ' | $2.18 | $2.61 | $2.04 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Earnings Per Share [Abstract] | ' | ' | ' |
Weighted average number of shares, Recognition and Retention Plan | 642,008 | 612,097 | 571,262 |
Weighted average number of shares, treasury stock | 2,223,306 | 1,964,825 | 1,300,222 |
Stock options having antidilutive effect on earnings per share | 483,696 | 752,188 | 542,716 |
Disposition_Activity_Schedule_
Disposition Activity - Schedule of Branch Closure Costs (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Business Combinations [Abstract] | ' | ' |
Employee termination | $299 | $477 |
Accelerated depreciation | 1,033 | 576 |
Contract termination | 659 | 20 |
Impairment | 4,941 | 2,743 |
Total | $6,932 | $3,816 |
Investment_Securities_Schedule
Investment Securities - Schedule of Amortized Cost and Fair Values of Investment Securities, with Gross Unrealized Gains and Losses (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | $1,963,046 | $1,706,916 |
Securities available for sale, Gross Unrealized Gains | 13,867 | 40,134 |
Securities available for sale, Gross Unrealized Losses | -40,116 | -2,046 |
Securities available for sale, Estimated Fair Value | 1,936,797 | 1,745,004 |
Securities held to maturity, Amortized Cost | 154,109 | 205,062 |
Securities held to maturity, Gross Unrealized Gains | 2,205 | 6,702 |
Securities held to maturity, Gross Unrealized Losses | -3,748 | -266 |
Securities held to maturity, Estimated Fair Value | 152,566 | 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 | 406,092 | 281,746 |
Securities available for sale, Gross Unrealized Gains | 1,382 | 4,364 |
Securities available for sale, Gross Unrealized Losses | -11,913 | -386 |
Securities available for sale, Estimated Fair Value | 395,561 | 285,724 |
Securities held to maturity, Amortized Cost | 34,478 | 69,949 |
Securities held to maturity, Gross Unrealized Gains | 484 | 1,244 |
Securities held to maturity, Gross Unrealized Losses | ' | ' |
Securities held to maturity, Estimated Fair Value | 34,962 | 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 | 105,300 | 120,680 |
Securities available for sale, Gross Unrealized Gains | 2,435 | 6,573 |
Securities available for sale, Gross Unrealized Losses | -256 | -178 |
Securities available for sale, Estimated Fair Value | 107,479 | 127,075 |
Securities held to maturity, Amortized Cost | 84,290 | 88,909 |
Securities held to maturity, Gross Unrealized Gains | 1,463 | 4,730 |
Securities held to maturity, Gross Unrealized Losses | -1,624 | -113 |
Securities held to maturity, Estimated Fair Value | 84,129 | 93,526 |
Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 1,450,194 | 1,303,030 |
Securities available for sale, Gross Unrealized Gains | 10,031 | 29,108 |
Securities available for sale, Gross Unrealized Losses | -27,947 | -1,482 |
Securities available for sale, Estimated Fair Value | 1,432,278 | 1,330,656 |
Securities held to maturity, Amortized Cost | 35,341 | 46,204 |
Securities held to maturity, Gross Unrealized Gains | 258 | 728 |
Securities held to maturity, Gross Unrealized Losses | -2,124 | -153 |
Securities held to maturity, Estimated Fair Value | 33,475 | 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 | 19 | 89 |
Securities available for sale, Gross Unrealized Losses | ' | ' |
Securities available for sale, Estimated Fair Value | $1,479 | $1,549 |
Investment_Securities_Schedule1
Investment Securities - Schedule of Exposure to Investment Security Issuers Exceed Ten Percentage of Shareholders' Equity (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Investments [Line Items] | ' | ' |
Market Value | $1,936,797 | $1,745,004 |
Two Investment Security Issuers Exceeding Ten Percent of Shareholders Equity [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Amortized Cost | 1,733,208 | ' |
Market Value | 1,703,567 | ' |
Two Investment Security Issuers Exceeding Ten Percent of Shareholders Equity [Member] | Federal National Mortgage Association (Fannie Mae) [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Amortized Cost | 1,099,986 | ' |
Market Value | 1,084,466 | ' |
Two Investment Security Issuers Exceeding Ten Percent of Shareholders Equity [Member] | Federal Home Loan Mortgage Corporation (Freddie Mac) [Member] | ' | ' |
Schedule of Investments [Line Items] | ' | ' |
Amortized Cost | 633,222 | ' |
Market Value | $619,101 | ' |
Investment_Securities_Addition
Investment Securities - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 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 | $1,500,000,000 | $1,700,000,000 | ' |
Number of debt securities, held | 207 | 49 | ' |
Unrealized losses on debt securities, percent of amortized cost | 3.23% | 0.85% | ' |
Unrealized losses on debt securities, percent of Company's total amortized cost | 2.07% | 0.12% | ' |
Number of debt securities having unrealized losses | 207 | 49 | ' |
Number of securities recorded with an aggregate amortized cost | 25 | 3 | ' |
Number of securities, continuous unrealized loss position, twelve months or longer, fair value | 25 | 3 | ' |
Available-for-sale securities, amortized cost basis | 112,476,000 | 5,200,000 | ' |
Unrealized loss on securities | $6,188,000 | $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] | Maximum [Member] | ' | ' | ' |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' | ' |
Number of securities issued | 25 | 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 | 20 | 2 | ' |
Investment_Securities_Schedule2
Investment Securities - Schedule of Securities with Gross Unrealized Losses Aggregated by Investment Category (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 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 | ($35,543) | ($1,859) |
Securities available for sale, Less Than Twelve Months, Estimated Fair Value | 1,165,829 | 239,768 |
Securities available for sale, Over Twelve Months, Gross Unrealized Losses | -4,573 | -187 |
Securities available for sale, Over Twelve Months, Estimated Fair Value | 88,432 | 5,013 |
Securities available for sale, Gross Unrealized Losses, Total | -40,116 | -2,046 |
Securities available for sale, Estimated Fair Value, Total | 1,254,261 | 244,781 |
Securities held to maturity, Less Than Twelve Months, Gross Unrealized Losses | -2,133 | -266 |
Securities held to maturity, Less Than Twelve Months, Estimated Fair Value | 42,268 | 24,504 |
Securities held to maturity, Over Twelve Months, Gross Unrealized Losses | -1,615 | ' |
Securities held to maturity, Over Twelve Months, Estimated Fair Value | 17,856 | ' |
Securities held to maturity, Gross Unrealized Losses, Total | -3,748 | -266 |
Securities held to maturity, Estimated Fair Value, Total | 60,124 | 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 | -11,764 | -386 |
Securities available for sale, Less Than Twelve Months, Estimated Fair Value | 298,515 | 59,741 |
Securities available for sale, Over Twelve Months, Gross Unrealized Losses | -149 | ' |
Securities available for sale, Over Twelve Months, Estimated Fair Value | 5,515 | ' |
Securities available for sale, Gross Unrealized Losses, Total | -11,913 | -386 |
Securities available for sale, Estimated Fair Value, Total | 304,030 | 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 | -30 | ' |
Securities available for sale, Less Than Twelve Months, Estimated Fair Value | 2,415 | ' |
Securities available for sale, Over Twelve Months, Gross Unrealized Losses | -226 | -178 |
Securities available for sale, Over Twelve Months, Estimated Fair Value | 1,047 | 1,094 |
Securities available for sale, Gross Unrealized Losses, Total | -256 | -178 |
Securities available for sale, Estimated Fair Value, Total | 3,462 | 1,094 |
Securities held to maturity, Less Than Twelve Months, Gross Unrealized Losses | -1,181 | -113 |
Securities held to maturity, Less Than Twelve Months, Estimated Fair Value | 29,355 | 8,242 |
Securities held to maturity, Over Twelve Months, Gross Unrealized Losses | -443 | ' |
Securities held to maturity, Over Twelve Months, Estimated Fair Value | 6,240 | ' |
Securities held to maturity, Gross Unrealized Losses, Total | -1,624 | -113 |
Securities held to maturity, Estimated Fair Value, Total | 35,595 | 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 | -23,749 | -1,473 |
Securities available for sale, Less Than Twelve Months, Estimated Fair Value | 864,899 | 180,027 |
Securities available for sale, Over Twelve Months, Gross Unrealized Losses | -4,198 | -9 |
Securities available for sale, Over Twelve Months, Estimated Fair Value | 81,870 | 3,919 |
Securities available for sale, Gross Unrealized Losses, Total | -27,947 | -1,482 |
Securities available for sale, Estimated Fair Value, Total | 946,769 | 183,946 |
Securities held to maturity, Less Than Twelve Months, Gross Unrealized Losses | -952 | -153 |
Securities held to maturity, Less Than Twelve Months, Estimated Fair Value | 12,913 | 16,262 |
Securities held to maturity, Over Twelve Months, Gross Unrealized Losses | -1,172 | ' |
Securities held to maturity, Over Twelve Months, Estimated Fair Value | 11,616 | ' |
Securities held to maturity, Gross Unrealized Losses, Total | -2,124 | -153 |
Securities held to maturity, Estimated Fair Value, Total | $24,529 | $16,262 |
Investment_Securities_Schedule3
Investment Securities - Schedule of Other-Than-Temporarily Impaired Investment Security Portion of Unrealized Loss Recognized in Other Comprehensive Income (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Investments Debt And Equity Securities [Abstract] | ' | ' | ' |
Balance at beginning of period | ($1,273) | ($1,273) | ($764) |
Credit losses on securities not previously considered other-than-temporarily impaired | ' | ' | ' |
Credit losses on securities for which OTTI was previously recognized | ' | ' | -509 |
Reduction for securities sold/settled during the period | ' | ' | ' |
Balance at end of period | ($1,273) | ($1,273) | ($1,273) |
Investment_Securities_Schedule4
Investment Securities - Schedule of Amortized Cost and Estimated Fair Value of Investment Securities by Maturity (Detail) (USD $) | Dec. 31, 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 | 2.03% | ' |
Securities Available for Sale, Weighted Average Yield, One through five years | 1.36% | ' |
Securities Available for Sale, Weighted Average Yield, After five through ten years | 2.09% | ' |
Securities Available for Sale, Weighted Average Yield, Over ten years | 2.19% | ' |
Securities Available for Sale, Weighted Average Yield, Totals | 2.06% | ' |
Securities Available for Sale, Amortized Cost, Within one year or less | $17,184 | ' |
Securities Available for Sale, Amortized Cost, One through five years | 231,505 | ' |
Securities Available for Sale, Amortized Cost, After five through ten years | 558,892 | ' |
Securities Available for Sale, Amortized Cost, Over ten years | 1,155,465 | ' |
Securities Available for Sale, Amortized Cost, Totals | 1,963,046 | ' |
Securities Available for Sale, Estimated Fair Value, Within one year or less | 17,355 | ' |
Securities Available for Sale, Estimated Fair Value, One through five years | 230,338 | ' |
Securities Available for Sale, Estimated Fair Value, After five through ten years | 552,993 | ' |
Securities Available for Sale, Estimated Fair Value, Over ten years | 1,136,111 | ' |
Securities Available for Sale, Estimated Fair Value, Totals | 1,936,797 | ' |
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 | 2.74% | ' |
Securities Held to Maturity, Weighted Average Yield, Over ten years | 3.10% | ' |
Securities Held to Maturity, Weighted Average Yield, Totals | 2.83% | ' |
Securities Held to Maturity, Amortized Cost, Within one year or less | 24,548 | ' |
Securities Held to Maturity, Amortized Cost, One through five years | 18,026 | ' |
Securities Held to Maturity, Amortized Cost, After five through ten years | 24,692 | ' |
Securities Held to Maturity, Amortized Cost, Over ten years | 86,843 | ' |
Securities Held to Maturity, Amortized Cost, Totals | 154,109 | 205,062 |
Securities Held to Maturity, Estimated Fair Value, Within one year or less | 24,719 | ' |
Securities Held to Maturity, Estimated Fair Value, One through five years | 18,557 | ' |
Securities Held to Maturity, Estimated Fair Value, After five through ten years | 24,971 | ' |
Securities Held to Maturity, Estimated Fair Value, Over ten years | 84,319 | ' |
Securities Held to Maturity, Estimated Fair Value, Totals | $152,566 | $211,498 |
Investment_Securities_Schedule5
Investment Securities - Schedule of Realized Gains and Losses from Sale of Securities Classified as Available for Sale (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Investments Debt And Equity Securities [Abstract] | ' | ' | ' |
Realized gains | $2,387 | $3,754 | $3,429 |
Realized losses | -110 | -15 | -7 |
Net realized gains | $2,277 | $3,739 | $3,422 |
Investment_Securities_Schedule6
Investment Securities - Schedule of Securities in Other Assets on Company's Consolidated Balance Sheets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investments Debt And Equity Securities [Abstract] | ' | ' |
Federal Home Loan Bank (FHLB) stock | $24,369 | $16,860 |
Federal Reserve Bank (FRB) stock | 28,098 | 28,155 |
Other investments | 1,306 | 1,201 |
Total equity securities | $53,773 | $46,216 |
Loans_Receivable_Schedule_of_L
Loans Receivable - Schedule of Loans Receivable (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Loans Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | $8,772,226 | $7,405,824 | ' |
Covered loans receivable | 719,793 | 1,092,756 | ' |
Total loans receivable | 9,492,019 | 8,498,580 | ' |
Commercial Loans [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 424,357 | 727,894 | ' |
Total loans receivable | 6,863,418 | 6,169,261 | ' |
Commercial Loans [Member] | Real Estate [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 387,332 | 640,843 | ' |
Total loans receivable | 3,867,305 | 3,631,543 | ' |
Commercial Loans [Member] | Business [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 37,025 | 87,051 | ' |
Total loans receivable | 2,996,113 | 2,537,718 | ' |
Residential Mortgage Loans [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 154,025 | 187,164 | ' |
Total loans receivable | 586,532 | 477,204 | ' |
Residential Mortgage Loans [Member] | Residential 1-4 Family [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 154,025 | 187,164 | ' |
Total loans receivable | 577,082 | 471,183 | ' |
Residential Mortgage Loans [Member] | Construction/ Owner Occupied [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | ' | ' | ' |
Total loans receivable | 9,450 | 6,021 | ' |
Consumer and Other Loans [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 141,411 | 177,698 | ' |
Total loans receivable | 2,042,069 | 1,852,115 | ' |
Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 137,122 | 174,212 | ' |
Total loans receivable | 1,291,792 | 1,251,125 | ' |
Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | ' | ' | ' |
Total loans receivable | 375,236 | 327,985 | ' |
Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 4,289 | 3,486 | ' |
Total loans receivable | 375,041 | 273,005 | ' |
Non-Covered Loans [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 8,772,226 | 7,405,824 | ' |
Non-Covered Loans [Member] | Commercial Loans [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 6,439,061 | 5,441,367 | ' |
Non-Covered Loans [Member] | Commercial Loans [Member] | Real Estate [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 3,479,973 | 2,990,700 | ' |
Non-Covered Loans [Member] | Commercial Loans [Member] | Business [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 2,959,088 | 2,450,667 | ' |
Non-Covered Loans [Member] | Residential Mortgage Loans [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 432,507 | 290,040 | ' |
Non-Covered Loans [Member] | Residential Mortgage Loans [Member] | Residential 1-4 Family [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 423,057 | 284,019 | ' |
Non-Covered Loans [Member] | Residential Mortgage Loans [Member] | Construction/ Owner Occupied [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 9,450 | 6,021 | ' |
Non-Covered Loans [Member] | Consumer and Other Loans [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 1,900,658 | 1,674,417 | ' |
Non-Covered Loans [Member] | Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 1,154,670 | 1,076,913 | ' |
Non-Covered Loans [Member] | Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 375,236 | 327,985 | ' |
Non-Covered Loans [Member] | Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 370,752 | 269,519 | ' |
Covered Loans [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 719,793 | 1,092,756 | 1,334,449 |
Covered Loans [Member] | Commercial Loans [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 424,357 | 727,894 | ' |
Covered Loans [Member] | Commercial Loans [Member] | Real Estate [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 387,332 | 640,843 | ' |
Covered Loans [Member] | Commercial Loans [Member] | Business [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 37,025 | 87,051 | ' |
Covered Loans [Member] | Residential Mortgage Loans [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 154,025 | 187,164 | ' |
Covered Loans [Member] | Residential Mortgage Loans [Member] | Residential 1-4 Family [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 154,025 | 187,164 | ' |
Covered Loans [Member] | Residential Mortgage Loans [Member] | Construction/ Owner Occupied [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | ' | ' | ' |
Covered Loans [Member] | Consumer and Other Loans [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 141,411 | 177,698 | ' |
Covered Loans [Member] | Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 137,122 | 174,212 | ' |
Covered Loans [Member] | Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | ' | ' | ' |
Covered Loans [Member] | Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | $4,289 | $3,486 | ' |
Loans_Receivable_Additional_In
Loans Receivable - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Loans Receivable [Line Items] | ' | ' | ' |
Deferred loan origination fees | $18,634,000 | $14,040,000 | ' |
Deferred loan expenses | 7,618,000 | 5,270,000 | ' |
Deposit liabilities reclassified as loans receivable | 3,065,000 | 3,231,000 | ' |
Loans with carrying value pledged to secure public deposits and other borrowings | 2,300,000,000 | 1,500,000,000 | ' |
Interest income, nonaccrual loans | 2,867,000 | 3,193,000 | 4,113,000 |
Non-covered troubled debt restructurings modified during the current period | 14,562,000 | 4,649,000 | ' |
Troubled Debt Restructurings [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Total TDRs | $19,877,000 | $17,710,000 | ' |
Loans_Receivable_Schedule_of_A
Loans Receivable - Schedule of Aging of Non-Covered Loans (Detail) (USD $) | Dec. 31, 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 | $13,426 | $10,345 |
Past Due, 60-89 days | 7,965 | 2,447 |
Past Due, Greater than 90 days | 44,762 | 49,288 |
Total past due | 66,153 | 62,080 |
Current | 8,222,168 | 6,685,425 |
Total Non-covered loans, Net of Unearned Income | 8,288,321 | 6,747,505 |
Recorded investment > 90 days and Accruing | 1,075 | 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 | 1,803 | 5,479 |
Total past due | 1,803 | 5,539 |
Current | 381,292 | 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 | 6,098 | 3,590 |
Past Due, 60-89 days | 5,630 | ' |
Past Due, Greater than 90 days | 7,650 | 23,559 |
Total past due | 19,378 | 27,149 |
Current | 2,732,431 | 2,224,495 |
Total Non-covered loans, Net of Unearned Income | 2,751,809 | 2,251,644 |
Recorded investment > 90 days and Accruing | 2 | 83 |
Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Loans [Member] | Commercial Business [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 2,117 | 1,430 |
Past Due, 60-89 days | 423 | 13 |
Past Due, Greater than 90 days | 15,020 | 3,687 |
Total past due | 17,560 | 5,130 |
Current | 2,888,491 | 2,362,304 |
Total Non-covered loans, Net of Unearned Income | 2,906,051 | 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 | 1,104 | 662 |
Past Due, 60-89 days | 852 | 1,156 |
Past Due, Greater than 90 days | 9,684 | 9,168 |
Total past due | 11,640 | 10,986 |
Current | 286,167 | 185,843 |
Total Non-covered loans, Net of Unearned Income | 297,807 | 196,829 |
Recorded investment > 90 days and Accruing | 1,073 | 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 | 1,626 | ' |
Total past due | 1,626 | ' |
Current | 114,939 | 60,454 |
Total Non-covered loans, Net of Unearned Income | 116,565 | 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 | 1,956 | 2,283 |
Past Due, 60-89 days | 569 | 796 |
Past Due, Greater than 90 days | 6,808 | 5,793 |
Total past due | 9,333 | 8,872 |
Current | 1,091,894 | 991,766 |
Total Non-covered loans, Net of Unearned Income | 1,101,227 | 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 | 1,427 | 1,624 |
Past Due, 60-89 days | 293 | 326 |
Past Due, Greater than 90 days | 1,275 | 868 |
Total past due | 2,995 | 2,818 |
Current | 370,388 | 320,148 |
Total Non-covered loans, Net of Unearned Income | 373,383 | 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 | 266 | 130 |
Past Due, 60-89 days | 92 | 51 |
Past Due, Greater than 90 days | 411 | 424 |
Total past due | 769 | 605 |
Current | 62,873 | 51,117 |
Total Non-covered loans, Net of Unearned Income | 63,642 | 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 | 458 | 566 |
Past Due, 60-89 days | 106 | 105 |
Past Due, Greater than 90 days | 485 | 310 |
Total past due | 1,049 | 981 |
Current | 293,693 | 201,161 |
Total Non-covered loans, Net of Unearned Income | 294,742 | 202,142 |
Recorded investment > 90 days and Accruing | ' | ' |
Non-Covered Acquired Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 3,251 | 10,502 |
Past Due, 60-89 days | 2,580 | 2,499 |
Past Due, Greater than 90 days | 37,265 | 52,781 |
Total past due | 43,096 | 65,782 |
Current | 506,422 | 675,692 |
Discount | -65,613 | -83,155 |
Total Non-covered loans, Net of Unearned Income | 483,905 | 658,319 |
Recorded investment > 90 days and Accruing | 37,265 | 52,781 |
Non-Covered Acquired Loans [Member] | Commercial Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 388 | 369 |
Past Due, 60-89 days | ' | ' |
Past Due, Greater than 90 days | 2,542 | 4,067 |
Total past due | 2,930 | 4,436 |
Current | 19,833 | 29,098 |
Discount | -2,532 | -3,968 |
Total Non-covered loans, Net of Unearned Income | 20,231 | 29,566 |
Recorded investment > 90 days and Accruing | 2,542 | 4,067 |
Non-Covered Acquired Loans [Member] | Commercial Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 1,798 | 5,971 |
Past Due, 60-89 days | 1,963 | 1,572 |
Past Due, Greater than 90 days | 27,967 | 38,987 |
Total past due | 31,728 | 46,530 |
Current | 345,286 | 426,339 |
Discount | -52,176 | -57,055 |
Total Non-covered loans, Net of Unearned Income | 324,838 | 415,814 |
Recorded investment > 90 days and Accruing | 27,967 | 38,987 |
Non-Covered Acquired Loans [Member] | Commercial Loans [Member] | Commercial Business [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 544 | 1,410 |
Past Due, 60-89 days | ' | 524 |
Past Due, Greater than 90 days | 1,218 | 3,953 |
Total past due | 1,762 | 5,887 |
Current | 54,189 | 89,490 |
Discount | -2,914 | -12,144 |
Total Non-covered loans, Net of Unearned Income | 53,037 | 83,233 |
Recorded investment > 90 days and Accruing | 1,218 | 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 | 18,796 | 30,663 |
Discount | -887 | 1,315 |
Total Non-covered loans, Net of Unearned Income | 18,135 | 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 | 313 | 2,379 |
Past Due, 60-89 days | 516 | 382 |
Past Due, Greater than 90 days | 4,242 | 4,354 |
Total past due | 5,071 | 7,115 |
Current | 53,995 | 73,658 |
Discount | -5,623 | -4,498 |
Total Non-covered loans, Net of Unearned Income | 53,443 | 76,275 |
Recorded investment > 90 days and Accruing | 4,242 | 4,354 |
Non-Covered Acquired Loans [Member] | Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 33 | 171 |
Past Due, 60-89 days | ' | 4 |
Past Due, Greater than 90 days | 95 | 146 |
Total past due | 128 | 321 |
Current | 1,725 | 4,698 |
Discount | ' | ' |
Total Non-covered loans, Net of Unearned Income | 1,853 | 5,019 |
Recorded investment > 90 days and Accruing | 95 | 146 |
Non-Covered Acquired Loans [Member] | Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 175 | 202 |
Past Due, 60-89 days | 101 | 17 |
Past Due, Greater than 90 days | 975 | 495 |
Total past due | 1,251 | 714 |
Current | 12,598 | 21,746 |
Discount | -1,481 | -6,805 |
Total Non-covered loans, Net of Unearned Income | 12,368 | 15,655 |
Recorded investment > 90 days and Accruing | $975 | $495 |
Loans_Receivable_Schedule_of_N
Loans Receivable - Schedule of Non-Covered Loans on Nonaccrual Status (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | $43,687 | $47,917 |
Commercial Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 1,803 | 5,479 |
Commercial Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 7,648 | 23,476 |
Commercial Loans [Member] | Business [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 15,020 | 3,358 |
Residential Mortgage Loans [Member] | Residential Prime [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 8,611 | 8,367 |
Residential Mortgage Loans [Member] | Residential Subprime [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 1,626 | ' |
Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 6,808 | 5,635 |
Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 1,275 | 868 |
Consumer and Other Loans [Member] | Credit Card [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 411 | 424 |
Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | $485 | $310 |
Loans_Receivable_Schedule_of_C
Loans Receivable - Schedule of Carrying Amount of Acquired Covered Loans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | $66,077 | $213,645 |
Acquired Performing Loans | 653,716 | 879,111 |
Balance at end of period | 719,793 | 1,092,756 |
Commercial Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 14,904 | 170,499 |
Acquired Performing Loans | 409,453 | 557,395 |
Balance at end of period | 424,357 | 727,894 |
Residential Mortgage Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 28,223 | 20,232 |
Acquired Performing Loans | 125,802 | 166,932 |
Balance at end of period | 154,025 | 187,164 |
Consumer and Other Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 22,950 | 22,914 |
Acquired Performing Loans | 118,461 | 154,784 |
Balance at end of period | 141,411 | 177,698 |
Real Estate [Member] | Commercial Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 14,904 | 167,742 |
Acquired Performing Loans | 372,428 | 473,101 |
Balance at end of period | 387,332 | 640,843 |
Business [Member] | Commercial Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | ' | 2,757 |
Acquired Performing Loans | 37,025 | 84,294 |
Balance at end of period | 37,025 | 87,051 |
Residential 1-4 Family [Member] | Residential Mortgage Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 28,223 | 20,232 |
Acquired Performing Loans | 125,802 | 166,932 |
Balance at end of period | 154,025 | 187,164 |
Construction/ Owner Occupied [Member] | Residential Mortgage Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | ' | ' |
Acquired Performing Loans | ' | ' |
Balance at end of period | ' | ' |
Home Equity [Member] | Consumer and Other Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 21,768 | 22,094 |
Acquired Performing Loans | 115,354 | 152,118 |
Balance at end of period | 137,122 | 174,212 |
Indirect Automobile [Member] | Consumer and Other Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | ' | ' |
Acquired Performing Loans | ' | ' |
Balance at end of period | ' | ' |
Consumer - Other [Member] | Consumer and Other Loans [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 1,182 | 820 |
Acquired Performing Loans | 3,107 | 2,666 |
Balance at end of period | $4,289 | $3,486 |
Loans_Receivable_Summary_of_Ch
Loans Receivable - Summary of Changes in Accretable Yields of Acquired Loans (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Loans Receivable [Line Items] | ' | ' | ' |
Balance | $356,393 | $470,811 | $708,571 |
Acquisition | ' | 24,089 | 146,509 |
Net transfers from (to) nonaccretable difference to (from) accretable yield | 50,743 | -59,658 | -178,864 |
Accretion | -179,456 | -249,309 | -205,405 |
Changes in expected cash flows not affecting nonaccretable differences | 127,212 | 170,460 | ' |
Balance | 354,892 | 356,393 | 470,811 |
Acquired Impaired Loans [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Balance | 76,623 | 83,834 | 82,381 |
Acquisition | ' | 1,190 | 7,346 |
Net transfers from (to) nonaccretable difference to (from) accretable yield | 7,849 | -11,816 | 37,687 |
Accretion | -16,273 | -30,417 | -43,580 |
Changes in expected cash flows not affecting nonaccretable differences | 10,150 | 33,832 | ' |
Balance | 78,349 | 76,623 | 83,834 |
Acquired Performing Loans [Member] | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' |
Balance | 279,770 | 386,977 | 626,190 |
Acquisition | ' | 22,899 | 139,163 |
Net transfers from (to) nonaccretable difference to (from) accretable yield | 42,894 | -47,842 | -216,551 |
Accretion | -163,183 | -218,892 | -161,825 |
Changes in expected cash flows not affecting nonaccretable differences | 117,062 | 136,628 | ' |
Balance | $276,543 | $279,770 | $386,977 |
Loans_Receivable_Schedule_of_T
Loans Receivable - Schedule of Troubled Debt Restructurings (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 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 | 400,000 | 1,057,000 |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | 4,452,000 | 14,853,000 |
Total TDRs | 4,852,000 | 15,910,000 |
Commercial Loans [Member] | Business [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Accruing Loans, Current | 976,000 | 1,204,000 |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | 13,791,000 | 281,000 |
Total TDRs | 14,767,000 | 1,485,000 |
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 | 1,376,000 | 2,354,000 |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | 18,501,000 | 15,356,000 |
Total TDRs | 19,877,000 | 17,710,000 |
Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Accruing Loans, Current | ' | 93,000 |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | 258,000 | 222,000 |
Total TDRs | 258,000 | 315,000 |
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 $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Receivables [Abstract] | ' | ' |
Extended maturities | ' | $412,000 |
Interest rate adjustment | ' | 277,000 |
Maturity and interest rate adjustment | ' | 1,249,000 |
Movement to or extension of interest-rate only payments | ' | 2,543,000 |
Forbearance | 12,975,000 | 168,000 |
Other concession(s) (1) | 1,587,000 | ' |
Total | $14,562,000 | $4,649,000 |
Loans_Receivable_Schedule_of_S
Loans Receivable - Schedule of Subsequently Defaulted TDRs (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
SecurityLoan | SecurityLoan | |
TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | 9 | 20 |
Pre-modification Outstanding Recorded Investment | $14,835 | $5,161 |
Post-modification Outstanding Recorded Investment | 12,429 | 4,551 |
TDRs That Subsequently Defaulted In Past 12 Months [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | 54 | 56 |
Recorded Investment | 17,305 | 16,357 |
Real Estate [Member] | Commercial Loans [Member] | TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | ' | 14 |
Pre-modification Outstanding Recorded Investment | ' | 3,852 |
Post-modification Outstanding Recorded Investment | ' | 3,312 |
Real Estate [Member] | Commercial Loans [Member] | TDRs That Subsequently Defaulted In Past 12 Months [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | 35 | 44 |
Recorded Investment | 4,452 | 14,615 |
Business [Member] | Commercial Loans [Member] | TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | 9 | 4 |
Pre-modification Outstanding Recorded Investment | 14,835 | 1,215 |
Post-modification Outstanding Recorded Investment | 12,429 | 1,188 |
Business [Member] | Commercial Loans [Member] | TDRs That Subsequently Defaulted In Past 12 Months [Member] | ' | ' |
Loans Receivable [Line Items] | ' | ' |
Number of Loans | 17 | 9 |
Recorded Investment | 12,808 | 1,469 |
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 | 45 | 273 |
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 Consolidated Financial Statements (Detail) (USD $) | 12 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Loan Lease Allowance For Credit Losses Loan Activity And Report By Impairment Methodology [Line Items] | ' | ' | ' | ' |
Allowance for loan losses | ($143,074) | ($251,603) | ($193,761) | ($136,100) |
Provision for loan losses | -5,145 | -20,671 | -25,867 | ' |
Provision for unfunded lending commitments | 1,319 | ' | ' | ' |
Provision for loan losses | ($0.01) | ' | ' | ' |
Provision for unfunded lending commitments | $0.03 | ' | ' | ' |
Total provision for credit losses | $0.02 | ' | ' | ' |
Current Methodology [Member] | ' | ' | ' | ' |
Loan Lease Allowance For Credit Losses Loan Activity And Report By Impairment Methodology [Line Items] | ' | ' | ' | ' |
Allowance for loan losses | 67,342 | ' | ' | ' |
Reserve for unfunded lending commitments | 11,147 | ' | ' | ' |
Allowance for credit losses | 78,489 | ' | ' | ' |
Provision for loan losses | 6,828 | ' | ' | ' |
Provision for unfunded lending commitments | 1,319 | ' | ' | ' |
Total provision for credit losses | 8,147 | ' | ' | ' |
Previous Methodology [Member] | ' | ' | ' | ' |
Loan Lease Allowance For Credit Losses Loan Activity And Report By Impairment Methodology [Line Items] | ' | ' | ' | ' |
Allowance for loan losses | 77,759 | ' | ' | ' |
Reserve for unfunded lending commitments | ' | ' | ' | ' |
Allowance for credit losses | 77,759 | ' | ' | ' |
Provision for loan losses | 7,417 | ' | ' | ' |
Provision for unfunded lending commitments | ' | ' | ' | ' |
Total provision for credit losses | 7,417 | ' | ' | ' |
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 | -10,417 | ' | ' | ' |
Reserve for unfunded lending commitments | 11,147 | ' | ' | ' |
Allowance for credit losses | 730 | ' | ' | ' |
Provision for loan losses | -589 | ' | ' | ' |
Provision for unfunded lending commitments | 1,319 | ' | ' | ' |
Total provision for credit losses | $730 | ' | ' | ' |
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 $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | $251,603 | $193,761 | $136,100 |
(Reversal of) Provision for loan losses before benefit attributable to FDIC loss share agreements | -50,940 | 104,756 | 82,988 |
Adjustment attributable to FDIC loss share arrangements | 56,085 | -84,085 | -57,121 |
Net (reversal of) provision for loan losses | 5,145 | 20,671 | 25,867 |
Adjustment attributable to FDIC loss share arrangements | -56,085 | 84,085 | 57,121 |
Transfer of balance to OREO | -28,126 | -27,169 | -17,143 |
Transfer of balance to the RULC | -9,828 | ' | ' |
Loans charged-off | -26,481 | -25,060 | -16,159 |
Recoveries | 6,846 | 5,315 | 7,975 |
Balance at end of period | 143,074 | 251,603 | 193,761 |
Balance at beginning of period | ' | ' | ' |
Transfer of balance from the allowance for loan losses | 9,828 | ' | ' |
Provision for unfunded lending commitments | 1,319 | ' | ' |
Balance at end of period | 11,147 | ' | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 74,211 | 74,861 | 62,460 |
(Reversal of) Provision for loan losses before benefit attributable to FDIC loss share agreements | 6,828 | 3,804 | 19,974 |
Adjustment attributable to FDIC loss share arrangements | ' | ' | ' |
Net (reversal of) provision for loan losses | 6,828 | 3,804 | 19,974 |
Adjustment attributable to FDIC loss share arrangements | ' | ' | ' |
Transfer of balance to OREO | ' | ' | ' |
Transfer of balance to the RULC | -9,828 | ' | ' |
Loans charged-off | -10,686 | -9,728 | -15,022 |
Recoveries | 6,817 | 5,274 | 7,449 |
Balance at end of period | 67,342 | 74,211 | 74,861 |
Balance at beginning of period | ' | ' | ' |
Transfer of balance from the allowance for loan losses | 9,828 | ' | ' |
Provision for unfunded lending commitments | 1,319 | ' | ' |
Balance at end of period | 11,147 | ' | ' |
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 | -3,158 | 9,799 | ' |
Adjustment attributable to FDIC loss share arrangements | ' | ' | ' |
Net (reversal of) provision for loan losses | -3,158 | 9,799 | ' |
Adjustment attributable to FDIC loss share arrangements | ' | ' | ' |
Transfer of balance to OREO | -1,085 | -826 | ' |
Transfer of balance to the RULC | ' | ' | ' |
Loans charged-off | -31 | -179 | ' |
Recoveries | 15 | 22 | ' |
Balance at end of period | 4,557 | 8,816 | ' |
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 | 73,640 |
(Reversal of) Provision for loan losses before benefit attributable to FDIC loss share agreements | -54,610 | 91,153 | 63,014 |
Adjustment attributable to FDIC loss share arrangements | 56,085 | -84,085 | -57,121 |
Net (reversal of) provision for loan losses | 1,475 | 7,068 | 5,893 |
Adjustment attributable to FDIC loss share arrangements | -56,085 | 84,085 | 57,121 |
Transfer of balance to OREO | -27,041 | -26,343 | -17,143 |
Transfer of balance to the RULC | ' | ' | ' |
Loans charged-off | -15,764 | -15,153 | -1,137 |
Recoveries | 14 | 19 | 526 |
Balance at end of period | 71,175 | 168,576 | 118,900 |
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 $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | $251,603 | $193,761 | $136,100 |
(Reversal of) Provision for loan losses | 5,145 | 20,671 | 25,867 |
Transfer of balance to OREO | -28,126 | -27,169 | -17,143 |
Transfer of balance to the RULC | -9,828 | ' | ' |
Loans charged off | -26,481 | -25,060 | -16,159 |
Recoveries | 6,846 | 5,315 | 7,975 |
Balance at end of period | 143,074 | 251,603 | 193,761 |
Balance at beginning of period | ' | ' | ' |
Transfer of balance from the allowance for loan losses | 9,828 | ' | ' |
Provision for unfunded commitments | 1,319 | ' | ' |
Balance at end of period | 11,147 | ' | ' |
Balance at end of period | 719,793 | 1,092,756 | ' |
Non-Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 83,027 | 74,861 | 62,460 |
(Reversal of) Provision for loan losses | 3,670 | 13,603 | 19,974 |
Transfer of balance to OREO | -1,085 | -826 | ' |
Transfer of balance to the RULC | -9,828 | ' | ' |
Loans charged off | -10,717 | -9,907 | -15,022 |
Recoveries | 6,832 | 5,296 | 7,449 |
Balance at end of period | 71,899 | 83,027 | 74,861 |
Balance at beginning of period | ' | ' | ' |
Transfer of balance from the allowance for loan losses | 9,828 | ' | ' |
Provision for unfunded commitments | 1,319 | ' | ' |
Balance at end of period | 11,147 | ' | ' |
Allowance on loans individually evaluated for impairment | 1,029 | 880 | 2,186 |
Allowance on loans collectively evaluated for impairment | 70,870 | 82,147 | 72,675 |
Balance at end of period | 8,772,226 | 405,824 | 6,053,588 |
Balance at end of period individually evaluated for impairment | 26,182 | 34,471 | 42,311 |
Balance at end of period collectively evaluated for impairment | 8,746,044 | 371,353 | 6,011,277 |
Balance at end of period acquired with deteriorated credit quality | 13,783 | 64,691 | 35,495 |
Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 168,576 | 118,900 | 73,640 |
(Reversal of) Provision for loan losses | 1,475 | 7,068 | 5,893 |
(Decrease) Increase in FDIC loss share receivable | -56,085 | 84,085 | 57,121 |
Transfer of balance to OREO | -27,041 | -26,343 | -17,143 |
Transfer of balance to the RULC | ' | ' | ' |
Loans charged off | -15,764 | -15,153 | -1,137 |
Recoveries | 14 | 19 | 526 |
Balance at end of period | 71,175 | 168,576 | 118,900 |
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 | 71,175 | 168,576 | 118,900 |
Balance at end of period | 719,793 | 1,092,756 | 1,334,449 |
Balance at end of period individually evaluated for impairment | ' | ' | ' |
Balance at end of period collectively evaluated for impairment | 719,793 | 1,092,756 | 1,334,449 |
Balance at end of period acquired with deteriorated credit quality | 66,077 | 213,645 | 124,127 |
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 | 31,390 |
(Reversal of) Provision for loan losses | -8,830 | 1,786 | 6,809 |
Transfer of balance to OREO | -319 | -292 | ' |
Transfer of balance to the RULC | -2,939 | ' | ' |
Loans charged off | -2,940 | -2,000 | -7,656 |
Recoveries | 3,354 | 3,166 | 5,061 |
Balance at end of period | 26,590 | 38,264 | 35,604 |
Balance at beginning of period | ' | ' | ' |
Transfer of balance from the allowance for loan losses | 2,939 | ' | ' |
Provision for unfunded commitments | 150 | ' | ' |
Balance at end of period | 3,089 | ' | ' |
Allowance on loans individually evaluated for impairment | 8 | 226 | 1,874 |
Allowance on loans collectively evaluated for impairment | 26,582 | 38,038 | 33,730 |
Balance at end of period | 3,479,973 | 2,990,700 | 2,591,013 |
Balance at end of period individually evaluated for impairment | 8,705 | 28,052 | 34,541 |
Balance at end of period collectively evaluated for impairment | 3,471,268 | 2,962,648 | 2,556,472 |
Balance at end of period acquired with deteriorated credit quality | 12,240 | 55,856 | 4,835 |
Commercial Real Estate [Member] | Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 100,871 | 69,175 | 26,439 |
(Reversal of) Provision for loan losses | 1,523 | 4,970 | 6,762 |
(Decrease) Increase in FDIC loss share receivable | -28,238 | 51,543 | 50,079 |
Transfer of balance to OREO | -19,634 | -11,202 | -13,316 |
Loans charged off | -15,764 | -13,631 | -1,073 |
Recoveries | 14 | 16 | 284 |
Balance at end of period | 38,772 | 100,871 | 69,175 |
Allowance on loans individually evaluated for impairment | ' | ' | ' |
Allowance on loans collectively evaluated for impairment | 38,772 | 100,871 | 69,175 |
Balance at end of period | 387,332 | 640,843 | 772,877 |
Balance at end of period individually evaluated for impairment | ' | ' | ' |
Balance at end of period collectively evaluated for impairment | 387,332 | 640,843 | 772,877 |
Balance at end of period acquired with deteriorated credit quality | 14,904 | 167,742 | 54,691 |
Commercial Business [Member] | Non-Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 28,721 | 25,705 | 16,473 |
(Reversal of) Provision for loan losses | 3,543 | 4,021 | 9,533 |
Transfer of balance to OREO | -113 | ' | ' |
Transfer of balance to the RULC | -3,497 | ' | ' |
Loans charged off | -516 | -1,116 | -471 |
Recoveries | 377 | 111 | 170 |
Balance at end of period | 28,515 | 28,721 | 25,705 |
Balance at beginning of period | ' | ' | ' |
Transfer of balance from the allowance for loan losses | 3,497 | ' | ' |
Provision for unfunded commitments | 1,342 | ' | ' |
Balance at end of period | 4,839 | ' | ' |
Allowance on loans individually evaluated for impairment | 841 | 449 | 179 |
Allowance on loans collectively evaluated for impairment | 27,674 | 28,272 | 25,526 |
Balance at end of period | 2,959,088 | 2,450,667 | 1,896,496 |
Balance at end of period individually evaluated for impairment | 15,812 | 4,401 | 6,530 |
Balance at end of period collectively evaluated for impairment | 2,943,276 | 2,446,266 | 1,889,966 |
Balance at end of period acquired with deteriorated credit quality | 30 | 3,470 | 26,531 |
Commercial Business [Member] | Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 11,375 | 9,788 | 6,657 |
(Reversal of) Provision for loan losses | -649 | 964 | 392 |
(Decrease) Increase in FDIC loss share receivable | -5,032 | 3,616 | 2,899 |
Transfer of balance to OREO | -314 | -2,993 | -160 |
Loans charged off | ' | ' | ' |
Recoveries | ' | ' | ' |
Balance at end of period | 5,380 | 11,375 | 9,788 |
Allowance on loans individually evaluated for impairment | ' | ' | ' |
Allowance on loans collectively evaluated for impairment | 5,380 | 11,375 | 9,788 |
Balance at end of period | 37,025 | 87,051 | 108,738 |
Balance at end of period individually evaluated for impairment | ' | ' | ' |
Balance at end of period collectively evaluated for impairment | 37,025 | 87,051 | 108,738 |
Balance at end of period acquired with deteriorated credit quality | ' | 2,757 | 4,169 |
Mortgage [Member] | Non-Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 2,125 | 897 | 1,265 |
(Reversal of) Provision for loan losses | 860 | 2,578 | -215 |
Transfer of balance to OREO | -646 | -525 | ' |
Transfer of balance to the RULC | -40 | ' | ' |
Loans charged off | -518 | -863 | -222 |
Recoveries | 765 | 38 | 69 |
Balance at end of period | 2,546 | 2,125 | 897 |
Balance at beginning of period | ' | ' | ' |
Transfer of balance from the allowance for loan losses | 40 | ' | ' |
Provision for unfunded commitments | 32 | ' | ' |
Balance at end of period | 72 | ' | ' |
Allowance on loans individually evaluated for impairment | 180 | 163 | 133 |
Allowance on loans collectively evaluated for impairment | 2,366 | 1,962 | 764 |
Balance at end of period | 432,507 | 290,040 | 283,113 |
Balance at end of period individually evaluated for impairment | 1,407 | 1,703 | 1,009 |
Balance at end of period collectively evaluated for impairment | 431,100 | 288,337 | 282,104 |
Balance at end of period acquired with deteriorated credit quality | 126 | 330 | ' |
Consumer [Member] | Non-Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 13,917 | 12,655 | 13,332 |
(Reversal of) Provision for loan losses | 8,097 | 5,218 | 3,847 |
Transfer of balance to OREO | -7 | -9 | ' |
Transfer of balance to the RULC | -3,352 | ' | ' |
Loans charged off | -6,743 | -5,928 | -6,673 |
Recoveries | 2,336 | 1,981 | 2,149 |
Balance at end of period | 14,248 | 13,917 | 12,655 |
Balance at beginning of period | ' | ' | ' |
Transfer of balance from the allowance for loan losses | 3,352 | ' | ' |
Provision for unfunded commitments | -205 | ' | ' |
Balance at end of period | 3,147 | ' | ' |
Allowance on loans individually evaluated for impairment | ' | 42 | ' |
Allowance on loans collectively evaluated for impairment | 14,248 | 13,875 | 12,655 |
Balance at end of period | 1,900,658 | 1,674,417 | 1,282,966 |
Balance at end of period individually evaluated for impairment | 258 | 315 | 231 |
Balance at end of period collectively evaluated for impairment | 1,900,400 | 1,674,102 | 1,282,735 |
Balance at end of period acquired with deteriorated credit quality | 1,387 | 5,035 | 4,129 |
Consumer [Member] | Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 33,764 | 18,753 | 12,201 |
(Reversal of) Provision for loan losses | 315 | 811 | 971 |
(Decrease) Increase in FDIC loss share receivable | -17,919 | 15,031 | 7,188 |
Transfer of balance to OREO | -26 | -825 | -1,705 |
Loans charged off | ' | -9 | -42 |
Recoveries | ' | 3 | 140 |
Balance at end of period | 16,134 | 33,764 | 18,753 |
Allowance on loans individually evaluated for impairment | ' | ' | ' |
Allowance on loans collectively evaluated for impairment | 16,134 | 33,764 | 18,753 |
Balance at end of period | 141,411 | 177,698 | 197,447 |
Balance at end of period individually evaluated for impairment | ' | ' | ' |
Balance at end of period collectively evaluated for impairment | 141,411 | 177,698 | 197,447 |
Balance at end of period acquired with deteriorated credit quality | 22,950 | 22,914 | 29,473 |
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 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 | 28,343 |
(Reversal of) Provision for loan losses | 286 | 323 | -2,232 |
(Decrease) Increase in FDIC loss share receivable | -4,896 | 13,895 | -3,045 |
Transfer of balance to OREO | -7,067 | -11,323 | -1,962 |
Loans charged off | ' | -1,513 | -22 |
Recoveries | ' | ' | 102 |
Balance at end of period | 10,889 | 22,566 | 21,184 |
Allowance on loans individually evaluated for impairment | ' | ' | ' |
Allowance on loans collectively evaluated for impairment | 10,889 | 22,566 | 21,184 |
Balance at end of period | 154,025 | 187,164 | 255,387 |
Balance at end of period individually evaluated for impairment | ' | ' | ' |
Balance at end of period collectively evaluated for impairment | 154,025 | 187,164 | 255,387 |
Balance at end of period acquired with deteriorated credit quality | $28,223 | $20,232 | $35,794 |
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 $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | $8,772,226 | $7,405,824 | ' |
Total | 719,793 | 1,092,756 | ' |
Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 87,114 | 130,765 | ' |
30+ Days Past Due | 6,676 | 8,929 | ' |
Discount | -7,991 | -9,988 | ' |
Total | 85,799 | 129,706 | ' |
Residential Prime [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 18,796 | 30,663 | ' |
30+ Days Past Due | 226 | 779 | ' |
Discount | -887 | 1,315 | ' |
Total | 18,135 | 32,757 | ' |
Home Equity [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 53,995 | 73,658 | ' |
30+ Days Past Due | 5,071 | 7,115 | ' |
Discount | -5,623 | -4,498 | ' |
Total | 53,443 | 76,275 | ' |
Indirect Automobile [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 1,725 | 4,698 | ' |
30+ Days Past Due | 128 | 321 | ' |
Discount | ' | ' | ' |
Total | 1,853 | 5,019 | ' |
Consumer - Other [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 12,598 | 21,746 | ' |
30+ Days Past Due | 1,251 | 714 | ' |
Discount | -1,481 | -6,805 | ' |
Total | 12,368 | 15,655 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Current | 2,219,954 | 1,810,489 | ' |
30+ Days Past Due | 27,412 | 24,262 | ' |
Total | 2,247,366 | 1,834,751 | ' |
Credit risk by payment status, Current | 8,222,168 | 6,685,425 | ' |
30+ Days Past Due | 66,153 | 62,080 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Residential Prime [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Current | 286,167 | 185,843 | ' |
30+ Days Past Due | 11,640 | 10,986 | ' |
Total | 297,807 | 196,829 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Home Equity [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Current | 1,091,894 | 991,766 | ' |
30+ Days Past Due | 9,333 | 8,872 | ' |
Total | 1,101,227 | 1,000,638 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Indirect Automobile [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Current | 370,388 | 320,148 | ' |
30+ Days Past Due | 2,995 | 2,818 | ' |
Total | 373,383 | 322,966 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Consumer - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Current | 293,693 | 201,161 | ' |
30+ Days Past Due | 1,049 | 981 | ' |
Total | 294,742 | 202,142 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Credit Card [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Current | 62,873 | 51,117 | ' |
30+ Days Past Due | 769 | 605 | ' |
Total | 63,642 | 51,722 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Residential Subprime [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Current | 114,939 | 60,454 | ' |
30+ Days Past Due | 1,626 | ' | ' |
Total | 116,565 | 60,454 | ' |
Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 719,793 | 1,092,756 | 1,334,449 |
Covered Loans [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 303,185 | 354,519 | ' |
30+ Days Past Due | 66,800 | 119,964 | ' |
Discount | -74,549 | -109,621 | ' |
Covered Loans [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 37,025 | 87,051 | 108,738 |
Covered Loans [Member] | Residential Prime [Member] | Mortgage [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 158,710 | 183,795 | ' |
30+ Days Past Due | 30,814 | 52,379 | ' |
Discount | -35,499 | -49,010 | ' |
Covered Loans [Member] | Home Equity [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 143,236 | 168,729 | ' |
30+ Days Past Due | 35,811 | 65,997 | ' |
Discount | -41,925 | -60,514 | ' |
Covered Loans [Member] | Consumer - Other [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 591 | 1,154 | ' |
30+ Days Past Due | 144 | 1,523 | ' |
Discount | 2,875 | -97 | ' |
Covered Loans [Member] | Credit Card [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 648 | 841 | ' |
30+ Days Past Due | 31 | 65 | ' |
Discount | ' | ' | ' |
Internally Assigned Grade Loss [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Discount | -57,622 | -73,167 | ' |
Total | 398,106 | 528,613 | ' |
Internally Assigned Grade Loss [Member] | Commercial Real Estate Construction [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Discount | -2,532 | -3,968 | ' |
Total | 20,231 | 29,566 | ' |
Internally Assigned Grade Loss [Member] | Commercial Real Estate - Other [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Discount | -52,176 | -57,055 | ' |
Total | 324,838 | 415,814 | ' |
Internally Assigned Grade Loss [Member] | Commercial Business [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Discount | -2,914 | -12,144 | ' |
Total | 53,037 | 83,233 | ' |
Internally Assigned Grade Loss [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 6,040,955 | 4,912,754 | ' |
Internally Assigned Grade Loss [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 383,095 | 293,676 | ' |
Internally Assigned Grade Loss [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 2,751,809 | 2,251,644 | ' |
Internally Assigned Grade Loss [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 2,906,051 | 2,367,434 | ' |
Internally Assigned Grade Loss [Member] | Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 467,930 | 806,092 | ' |
Discount | -43,573 | -78,198 | ' |
Total | 424,357 | 727,894 | ' |
Internally Assigned Grade Loss [Member] | Covered Loans [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 295,436 | 364,862 | ' |
Internally Assigned Grade Loss [Member] | Covered Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 74,675 | 154,011 | ' |
Internally Assigned Grade Loss [Member] | Covered Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 346,225 | 554,460 | ' |
Internally Assigned Grade Loss [Member] | Covered Loans [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 47,030 | 97,621 | ' |
Internally Assigned Grade Loss [Member] | Covered Loans [Member] | Residential Prime [Member] | Mortgage [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 154,025 | 187,164 | ' |
Internally Assigned Grade Loss [Member] | Covered Loans [Member] | Home Equity [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 137,122 | 174,212 | ' |
Internally Assigned Grade Loss [Member] | Covered Loans [Member] | Consumer - Other [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 3,610 | 2,580 | ' |
Internally Assigned Grade Loss [Member] | Covered Loans [Member] | Credit Card [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 679 | 906 | ' |
Pass [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 425,189 | 471,143 | ' |
Pass [Member] | Commercial Real Estate Construction [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 21,244 | 25,896 | ' |
Pass [Member] | Commercial Real Estate - Other [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 350,412 | 359,046 | ' |
Pass [Member] | Commercial Business [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 53,533 | 86,201 | ' |
Pass [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 5,931,779 | 4,728,619 | ' |
Pass [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 370,824 | 269,842 | ' |
Pass [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 2,694,161 | 2,162,989 | ' |
Pass [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 2,866,794 | 2,295,788 | ' |
Pass [Member] | Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 222,175 | 286,014 | ' |
Pass [Member] | Covered Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 42,886 | 46,201 | ' |
Pass [Member] | Covered Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 148,579 | 201,261 | ' |
Pass [Member] | Covered Loans [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 30,710 | 38,552 | ' |
Special Mention [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 5,613 | 32,754 | ' |
Special Mention [Member] | Commercial Real Estate Construction [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | ' | 2,410 | ' |
Special Mention [Member] | Commercial Real Estate - Other [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 5,096 | 28,185 | ' |
Special Mention [Member] | Commercial Business [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 517 | 2,159 | ' |
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 | 42,700 | 78,954 | ' |
Special Mention [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 9,309 | 16,767 | ' |
Special Mention [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 27,227 | 40,547 | ' |
Special Mention [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 6,164 | 21,640 | ' |
Special Mention [Member] | Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 57,880 | 83,986 | ' |
Special Mention [Member] | Covered Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 7,401 | 9,888 | ' |
Special Mention [Member] | Covered Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 49,699 | 65,498 | ' |
Special Mention [Member] | Covered Loans [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 780 | 8,600 | ' |
Substandard [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 24,833 | 95,456 | ' |
Substandard [Member] | Commercial Real Estate Construction [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 1,519 | 5,228 | ' |
Substandard [Member] | Commercial Real Estate - Other [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 21,413 | 85,420 | ' |
Substandard [Member] | Commercial Business [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 1,901 | 4,808 | ' |
Substandard [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 65,437 | 104,735 | ' |
Substandard [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 2,962 | 7,067 | ' |
Substandard [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 30,308 | 47,710 | ' |
Substandard [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 32,167 | 49,958 | ' |
Substandard [Member] | Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 183,127 | 426,504 | ' |
Substandard [Member] | Covered Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 23,891 | 97,315 | ' |
Substandard [Member] | Covered Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 144,680 | 279,171 | ' |
Substandard [Member] | Covered Loans [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 14,556 | 50,018 | ' |
Doubtful [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 93 | 2,427 | ' |
Doubtful [Member] | Commercial Real Estate Construction [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | ' | ' | ' |
Doubtful [Member] | Commercial Real Estate - Other [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 93 | 218 | ' |
Doubtful [Member] | Commercial Business [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | ' | 2,209 | ' |
Doubtful [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 1,039 | 446 | ' |
Doubtful [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | ' | ' | ' |
Doubtful [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 113 | 398 | ' |
Doubtful [Member] | Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 926 | 48 | ' |
Doubtful [Member] | Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 4,748 | 9,588 | ' |
Doubtful [Member] | Covered Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 497 | 607 | ' |
Doubtful [Member] | Covered Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 3,267 | 8,530 | ' |
Doubtful [Member] | Covered Loans [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | $984 | $451 | ' |
Allowance_for_Credit_Losses_an6
Allowance for Credit Losses and Credit Quality - Schedule of Investment in Impaired Loan (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment | $45,342 | $50,079 |
Unpaid Principal Balance | 46,501 | 51,071 |
Related Allowance | -1,159 | -992 |
Average Recorded Investment | 49,645 | 60,025 |
Interest Income Recognized | 587 | 586 |
Commercial Loans [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment | 25,018 | 32,773 |
Unpaid Principal Balance | 25,877 | 33,448 |
Related Allowance | -859 | -675 |
Average Recorded Investment | 28,823 | 42,870 |
Interest Income Recognized | 321 | 371 |
Commercial Loans [Member] | With No Related Allowance Recorded [Member] | Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment | 8,567 | 26,151 |
Unpaid Principal Balance | 8,567 | 26,151 |
Related Allowance | ' | ' |
Average Recorded Investment | 10,443 | 34,682 |
Interest Income Recognized | 43 | 168 |
Commercial Loans [Member] | With No Related Allowance Recorded [Member] | Business [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment | 13,256 | 1,824 |
Unpaid Principal Balance | 13,256 | 1,824 |
Related Allowance | ' | ' |
Average Recorded Investment | 11,074 | 2,621 |
Interest Income Recognized | 170 | 33 |
Commercial Loans [Member] | With No Related Allowance Recorded [Member] | Home Equity [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment | 258 | ' |
Unpaid Principal Balance | 258 | ' |
Related Allowance | ' | ' |
Average Recorded Investment | 281 | ' |
Interest Income Recognized | 1 | ' |
Commercial Loans [Member] | With An Allowance Recorded [Member] | Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment | 1,268 | 3,464 |
Unpaid Principal Balance | 1,284 | 3,663 |
Related Allowance | -16 | -199 |
Average Recorded Investment | 4,414 | 3,678 |
Interest Income Recognized | 8 | 123 |
Commercial Loans [Member] | With An Allowance Recorded [Member] | Business [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment | 1,927 | 1,334 |
Unpaid Principal Balance | 2,770 | 1,810 |
Related Allowance | -843 | -476 |
Average Recorded Investment | 2,892 | 1,889 |
Interest Income Recognized | 100 | 47 |
Mortgage Loans [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment | 11,408 | 9,861 |
Unpaid Principal Balance | 11,645 | 10,070 |
Related Allowance | -237 | -209 |
Average Recorded Investment | 9,675 | 7,955 |
Interest Income Recognized | 98 | 131 |
Mortgage Loans [Member] | With An Allowance Recorded [Member] | Residential Prime [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment | 9,791 | 9,861 |
Unpaid Principal Balance | 10,019 | 10,070 |
Related Allowance | -228 | -209 |
Average Recorded Investment | 8,096 | 7,955 |
Interest Income Recognized | 98 | 131 |
Mortgage Loans [Member] | With An Allowance Recorded [Member] | Residential Subprime [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment | 1,617 | ' |
Unpaid Principal Balance | 1,626 | ' |
Related Allowance | -9 | ' |
Average Recorded Investment | 1,579 | ' |
Interest Income Recognized | ' | ' |
Consumer Loans [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment | 8,916 | 7,445 |
Unpaid Principal Balance | 8,979 | 7,553 |
Related Allowance | -63 | -108 |
Average Recorded Investment | 11,147 | 9,200 |
Interest Income Recognized | 168 | 84 |
Consumer Loans [Member] | With An Allowance Recorded [Member] | Home Equity [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment | 6,506 | 5,860 |
Unpaid Principal Balance | 6,550 | 5,951 |
Related Allowance | -44 | -91 |
Average Recorded Investment | 7,593 | 6,713 |
Interest Income Recognized | 93 | 51 |
Consumer Loans [Member] | With An Allowance Recorded [Member] | Indirect Automobile [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment | 1,267 | 865 |
Unpaid Principal Balance | 1,275 | 868 |
Related Allowance | -8 | -3 |
Average Recorded Investment | 2,090 | 1,514 |
Interest Income Recognized | 55 | 28 |
Consumer Loans [Member] | With An Allowance Recorded [Member] | Credit Card [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment | 404 | 413 |
Unpaid Principal Balance | 411 | 424 |
Related Allowance | -7 | -11 |
Average Recorded Investment | 418 | 372 |
Interest Income Recognized | ' | ' |
Consumer Loans [Member] | With An Allowance Recorded [Member] | Consumer - Other [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment | 481 | 307 |
Unpaid Principal Balance | 485 | 310 |
Related Allowance | -4 | -3 |
Average Recorded Investment | 765 | 601 |
Interest Income Recognized | $19 | $5 |
Loss_Sharing_Agreements_and_FD2
Loss Sharing Agreements and FDIC Loss Share Receivables - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
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 covered assets | ' | '3 years | ' | ' |
Liability for reserve for amount of consideration. | ' | $797,000 | ' | ' |
FDIC loss share receivables | ' | 162,312,000 | ' | ' |
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 Receivables (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
FDIC Loss Share Receivable [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | $423,069,000 | $423,069,000 | ' | ' |
Amortization | ' | -97,849,000 | -118,100,000 | -72,086,000 |
Impairment | 31,813,000 | 31,813,000 | ' | ' |
Balance at end of period | ' | 162,312,000 | 423,069,000 | ' |
FDIC Loss Share Receivable [Member] | ' | ' | ' | ' |
FDIC Loss Share Receivable [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 423,069,000 | 423,069,000 | 591,844,000 | ' |
Change due to (reversal of) loan loss provision recorded on FDIC covered loans | ' | -56,085,000 | 84,085,000 | ' |
Amortization | ' | -97,849,000 | -118,100,000 | ' |
Submission of reimbursable losses to the FDIC | ' | -52,586,000 | -123,986,000 | ' |
Impairment | ' | -31,813,000 | ' | ' |
Changes due to a change in cash flow assumptions on OREO and other changes | ' | -22,424,000 | -10,774,000 | ' |
Balance at end of period | ' | $162,312,000 | $423,069,000 | ' |
Transfers_and_Servicing_of_Fin2
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Mortgage Banking [Abstract] | ' | ' |
Unpaid principal balances of loans serviced | $345,016,000 | $257,883,000 |
Transfers_and_Servicing_of_Fin3
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) - Components of Mortgage Banking Activity (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Mortgage Loan Activity [Line Items] | ' | ' | ' |
Balance at beginning of period | $267,475 | ' | ' |
Originations | 2,116,460 | 2,432,367 | 1,659,226 |
Sales | -2,320,885 | -2,388,716 | -1,637,458 |
Balance at end of period | 128,442 | 267,475 | ' |
Gains on sales | 65,393 | 70,811 | 43,955 |
Total mortgage income | 64,197 | 78,053 | 45,177 |
Mortgage Loans Held for Sale [Member] | ' | ' | ' |
Mortgage Loan Activity [Line Items] | ' | ' | ' |
Balance at beginning of period | 267,475 | 153,013 | 83,905 |
Balance acquired during the period | ' | ' | 3,385 |
Originations | 2,116,460 | 2,432,367 | 1,659,226 |
Sales | -2,255,493 | -2,317,905 | -1,593,503 |
Balance at end of period | 128,442 | 267,475 | 153,013 |
Mortgage Income [Member] | ' | ' | ' |
Mortgage Loan Activity [Line Items] | ' | ' | ' |
Fair value changes of derivatives and mortgage loans held for sale, net | -1,722 | 6,772 | 937 |
Gains on sales | 65,393 | 70,811 | 43,955 |
Servicing and other income, net | 526 | 470 | 285 |
Total mortgage income | $64,197 | $78,053 | $45,177 |
Transfers_and_Servicing_of_Fin4
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) - Schedule of Mortgage Servicing Rights at Carrying Values (Detail) (USD $) | Dec. 31, 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 | -31,415 | -26,694 |
Net Carrying Amount | 15,339 | 20,060 |
Mortgage Servicing Rights [Member] | ' | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 2,146 | 1,234 |
Accumulated Amortization | -638 | -304 |
Net Carrying Amount | $1,508 | $930 |
Transfers_and_Servicing_of_Fin5
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) - Schedule of Related Amortization Expense of Mortgage Servicing Assets (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule Of Identifiable Intangible Assets Acquired As Part Of Business Combination [Line Items] | ' | ' | ' |
Aggregate amortization expense | $4,720 | $5,150 | $5,121 |
2014 | 4,346 | ' | ' |
2015 | 3,546 | ' | ' |
2016 | 3,177 | ' | ' |
2017 | 1,694 | ' | ' |
2018 | 1,156 | ' | ' |
2019 and thereafter | 1,420 | ' | ' |
Mortgage Servicing Rights [Member] | ' | ' | ' |
Schedule Of Identifiable Intangible Assets Acquired As Part Of Business Combination [Line Items] | ' | ' | ' |
Aggregate amortization expense | 480 | 225 | 115 |
2014 | 473 | ' | ' |
2015 | 382 | ' | ' |
2016 | 291 | ' | ' |
2017 | 202 | ' | ' |
2018 | 123 | ' | ' |
2019 and thereafter | $37 | ' | ' |
Premises_and_Equipment_Schedul
Premises and Equipment - Schedule of Premises and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property Plant And Equipment Useful Life And Values [Abstract] | ' | ' |
Land | $77,113 | $81,761 |
Buildings | 217,469 | 221,022 |
Furniture, fixtures and equipment | 110,663 | 101,907 |
Total premises and equipment | 405,245 | 404,690 |
Accumulated depreciation | -117,735 | -101,167 |
Total premises and equipment, net | $287,510 | $303,523 |
Premises_and_Equipment_Additio
Premises and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation expense | $19,552,000 | $18,286,000 | $13,431,000 |
Maximum lease term | '6 years | ' | ' |
Average lease income | 122,000 | ' | ' |
Total lease income | 1,470,000 | 1,572,000 | 1,542,000 |
Maximum lease renewal period | '50 years | ' | ' |
Total rent expense | 11,399,000 | 10,614,000 | 9,803,000 |
Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Operating leases in terms of years | '1 year | ' | ' |
Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Operating leases in terms of years | '50 years | ' | ' |
Buildings [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Total allocated cost of portion of buildings held for lease | 9,549,000 | 9,992,000 | ' |
Accumulated depreciation | $2,985,000 | $2,497,000 | ' |
Premises_and_Equipment_Schedul1
Premises and Equipment - Schedule of Minimum Future Annual Rent Commitments (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Property Plant And Equipment Useful Life And Values [Abstract] | ' |
2014 | $11,357 |
2015 | 10,404 |
2016 | 8,925 |
2017 | 7,242 |
2018 | 6,411 |
2019 and thereafter | 36,985 |
Total | $81,324 |
Goodwill_and_Other_Acquired_In2
Goodwill and Other Acquired Intangible Assets - Schedule of Carrying Amount of Goodwill (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 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 | Dec. 31, 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 Goodwill by Segments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Schedule Of Goodwill By Segment [Line Items] | ' | ' | ' |
Goodwill | $401,872 | $401,872 | $369,811 |
Iberiabank [Member] | ' | ' | ' |
Schedule Of Goodwill By Segment [Line Items] | ' | ' | ' |
Goodwill | 373,905 | ' | ' |
IMC [Member] | ' | ' | ' |
Schedule Of Goodwill By Segment [Line Items] | ' | ' | ' |
Goodwill | 23,178 | ' | ' |
Lenders [Member] | ' | ' | ' |
Schedule Of Goodwill By Segment [Line Items] | ' | ' | ' |
Goodwill | $4,789 | ' | ' |
Goodwill_and_Other_Acquired_In5
Goodwill and Other Acquired Intangible Assets - Schedule of Definite-Lived Intangible Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill [Line Items] | ' | ' |
Gross Carrying Amount | $46,754 | $46,754 |
Accumulated Amortization | -31,415 | -26,694 |
Net Carrying Amount | 15,339 | 20,060 |
Core Deposit Intangibles [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Gross Carrying Amount | 45,406 | 45,406 |
Accumulated Amortization | -30,784 | -26,284 |
Net Carrying Amount | 14,622 | 19,122 |
Customer Relationship Intangible Asset [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Gross Carrying Amount | 1,348 | 1,348 |
Accumulated Amortization | -631 | -410 |
Net Carrying Amount | $717 | $938 |
Goodwill_and_Other_Acquired_In6
Goodwill and Other Acquired Intangible Assets - Schedule of Amortization Expense of Purchase Accounting Intangible Assets (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Aggregate amortization expense | $4,720 | $5,150 | $5,121 |
2014 | 4,346 | ' | ' |
2015 | 3,546 | ' | ' |
2016 | 3,177 | ' | ' |
2017 | 1,694 | ' | ' |
2018 | 1,156 | ' | ' |
2019 and thereafter | $1,420 | ' | ' |
Other_Real_Estate_Owned_Schedu
Other Real Estate Owned - Schedule of Other Real Estate Owned Segregated into Non-Covered and Covered Properties (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Real Estate Properties [Line Items] | ' | ' |
Real estate owned acquired by foreclosure | $88,546 | $110,864 |
Real estate acquired for development or resale | 9,206 | 9,199 |
Other foreclosed property | 1,421 | 1,473 |
Total other real estate owned and foreclosed property | 99,173 | 121,536 |
Non-covered Properties [Member] | ' | ' |
Real Estate Properties [Line Items] | ' | ' |
Real estate owned acquired by foreclosure | 28,072 | 35,080 |
Real estate acquired for development or resale | 9,206 | 9,199 |
Other foreclosed property | 93 | 14 |
Total other real estate owned and foreclosed property | 37,371 | 44,293 |
Covered Properties [Member] | ' | ' |
Real Estate Properties [Line Items] | ' | ' |
Real estate owned acquired by foreclosure | 60,474 | 75,784 |
Real estate acquired for development or resale | ' | ' |
Other foreclosed property | 1,328 | 1,459 |
Total other real estate owned and foreclosed property | $61,802 | $77,243 |
Derivative_Instruments_and_Oth2
Derivative Instruments and Other Hedging Activities - Schedule of Outstanding Derivative Instruments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Fair Value | $26,422 | $35,202 |
Derivative Liability, Fair Value | 10,620 | 27,783 |
Derivative Asset, Notional Amount | 868,604 | 1,010,357 |
Derivative Liability, Notional Amount | 624,455 | 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 | 868,604 | 975,357 |
Derivative Liability, Notional Amount | 624,455 | 613,690 |
Other Assets [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Fair Value | 30,076 | 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 | 30,076 | 41,620 |
Other Liabilities [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Liability, Fair Value | 26,735 | 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 | 26,735 | 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 | 380,303 | 374,536 |
Derivative Liability, Notional Amount | 380,303 | 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 | 10,621 | 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 | 10,620 | 25,940 |
Forward Sale Contracts [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Notional Amount | 192,876 | 212,028 |
Derivative Liability, Notional Amount | 45,091 | 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 | 1,468 | 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 | 287 | 343 |
Written and Purchased Options [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative Asset, Notional Amount | 295,425 | 388,793 |
Derivative Liability, Notional Amount | 199,061 | 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 | 17,987 | 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 | $15,828 | $8,764 |
Derivative_Instruments_and_Oth3
Derivative Instruments and Other Hedging Activities - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ' |
Cash as collateral for derivative transactions | $4,976,000 | $2,650,000 |
Fair value of derivatives | $506,000 | ' |
Derivative_Instruments_and_Oth4
Derivative Instruments and Other Hedging Activities - Reconciliation of Gross Amounts in Consolidated Balance Sheets (Detail) (USD $) | Dec. 31, 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 | $26,422 | $35,202 |
Derivative liabilities subject to master netting arrangements, Gross Amounts | 10,620 | 27,783 |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | 26,422 | 34,703 |
Derivative liabilities subject to master netting arrangements, Gross Amounts Not Offset | 5,201 | 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 | -5,419 | -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 | 10,621 | 25,940 |
Derivative liabilities subject to master netting arrangements, Gross Amounts | 10,620 | 25,940 |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | 10,621 | 25,940 |
Derivative liabilities subject to master netting arrangements, Gross Amounts Not Offset | 5,201 | 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 | -5,419 | -13,350 |
Written and Purchased Options [Member] | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts | 15,801 | 8,763 |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | 15,801 | 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 $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in OCI, net of taxes (Effective Portion) | ' | ($874) | ' |
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | -392 | -1,618 | ' |
Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 1 | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivatives | 209 | -1 | -2 |
Not Designated as Hedging Instruments [Member] | ' | ' | ' |
Derivative Instruments And Hedging Activities [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivatives | -1,757 | 10,422 | ' |
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 | -1,716 | 2,431 | ' |
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 | -3,032 | 7,119 | ' |
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 | 2,991 | 872 | ' |
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) | ' | -874 | ' |
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | -392 | -1,618 | ' |
Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) | $1 | ' | ' |
Derivative_Instruments_and_Hed
Derivative Instruments and Hedging Activities - Outstanding Interest Rate Swap Agreements (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Offsetting [Abstract] | ' | ' |
Weighted average pay rate | 3.00% | 3.30% |
Weighted average receive rate | 0.20% | 0.30% |
Weighted average maturity in years | '7 years 7 months 6 days | '7 years 1 month 6 days |
Unrealized gain (loss) relating to interest rate swaps | ' | ($1,344) |
Deposits_Schedule_of_Deposits_
Deposits - Schedule of Deposits by Type (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investments Schedule [Abstract] | ' | ' |
Negotiable order of withdrawal (NOW) | $4,859,430 | $4,490,914 |
Money market deposits accounts (MMDA) | 3,779,581 | 3,738,480 |
Savings deposits | 387,397 | 364,703 |
Certificates of deposit and other time deposits | 1,710,592 | 2,154,180 |
Total deposits | $10,737,000 | $10,748,277 |
Deposits_Schedule_of_Time_Depo
Deposits - Schedule of Time Deposits (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investments Schedule [Abstract] | ' | ' |
Time deposits less than $100,000 | $804,250 | $1,007,665 |
Time deposits greater than $100,000 | 906,342 | 1,146,515 |
Total certificates of deposit and other time deposits | $1,710,592 | $2,154,180 |
Deposits_Schedule_of_Maturitie
Deposits - Schedule of Maturities of Certificates of Deposit (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investments Schedule [Abstract] | ' | ' |
2014 | $1,264,077 | ' |
2015 | 214,924 | ' |
2016 | 126,102 | ' |
2017 | 36,563 | ' |
2018 | 39,330 | ' |
2019 and thereafter | 29,596 | ' |
Total certificates of deposit and other time deposits | $1,710,592 | $2,154,180 |
ShortTerm_Borrowings_Summary_o
Short-Term Borrowings - Summary of Short-Term Borrowings (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Debt Disclosure [Abstract] | ' | ' | ' |
Federal Home Loan Bank advances | $375,000 | ' | ' |
Securities sold under agreements to repurchase | 305,344 | 303,045 | ' |
Total short-term borrowings | $680,344 | $303,045 | $395,543 |
ShortTerm_Borrowings_Additiona
Short-Term Borrowings - Additional Information on Short-Term Borrowings (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Debt Disclosure [Abstract] | ' | ' | ' |
Outstanding at December 31 | $680,344 | $303,045 | $395,543 |
Maximum month-end outstanding balance | 680,344 | 640,768 | 395,543 |
Average daily outstanding balance | $303,352 | $284,201 | $220,146 |
Average rate during the year | 0.16% | 0.22% | 0.26% |
Average rate at year end | 0.15% | 0.22% | 0.27% |
LongTerm_Debt_Schedule_of_Long
Long-Term Debt - Schedule of Long-Term Debt (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Notes payable - Investment fund contributions | $168,837 | $311,515 |
Junior subordinated debt | 111,862 | 111,862 |
Total long-term debt | 280,699 | 423,377 |
2.395% to 7.04% [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Federal Home Loan Bank notes | 92,267 | 233,812 |
0.50% to 5.00% Fixed [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Notes payable - Investment fund contributions | 76,570 | 77,703 |
Statutory Trust I, 3 Month LIBOR Plus 3.25% [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Junior subordinated debt | 10,310 | 10,310 |
Statutory Trust II, 3 Month LIBOR Plus 3.15% [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Junior subordinated debt | 10,310 | 10,310 |
Statutory Trust III, 3 Month LIBOR Plus 2.00% [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Junior subordinated debt | 10,310 | 10,310 |
Statutory Trust IV, 3 Month LIBOR Plus 1.60% [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Junior subordinated debt | 15,464 | 15,464 |
American Horizons Statutory Trust I, 3 Month LIBOR Plus 3.15% [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Junior subordinated debt | 6,186 | 6,186 |
Statutory Trust V, 3 Month LIBOR Plus 1.435% [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Junior subordinated debt | 10,310 | 10,310 |
Statutory Trust VI, 3 Month LIBOR Plus 2.75% [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Junior subordinated debt | 12,372 | 12,372 |
Statutory Trust VII, 3 Month LIBOR Plus 2.54% [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Junior subordinated debt | 13,403 | 13,403 |
Statutory Trust VIII, 3 Month LIBOR Plus 3.50% [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Junior subordinated debt | 7,217 | 7,217 |
OMNI Trust I, 3 Month LIBOR Plus 3.30% [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Junior subordinated debt | 8,248 | 8,248 |
OMNI Trust II, 3 Month LIBOR Plus 2.79% [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Junior subordinated debt | $7,732 | $7,732 |
LongTerm_Debt_Schedule_of_Long1
Long-Term Debt - Schedule of Long-Term Debt (Parenthetical) (Detail) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
2.395% to 7.04% [Member] | 2.395% to 7.04% [Member] | 0.50% to 5.00% Fixed [Member] | 0.50% to 5.00% Fixed [Member] | Statutory Trust I, 3 Month LIBOR Plus 3.25% [Member] | Statutory Trust II, 3 Month LIBOR Plus 3.15% [Member] | Statutory Trust III, 3 Month LIBOR Plus 2.00% [Member] | Statutory Trust IV, 3 Month LIBOR Plus 1.60% [Member] | American Horizons Statutory Trust I, 3 Month LIBOR Plus 3.15% [Member] | Statutory Trust V, 3 Month LIBOR Plus 1.435% [Member] | Statutory Trust VI, 3 Month LIBOR Plus 2.75% [Member] | Statutory Trust VII, 3 Month LIBOR Plus 2.54% [Member] | Statutory Trust VIII, 3 Month LIBOR Plus 3.50% [Member] | OMNI Trust I, 3 Month LIBOR Plus 3.30% [Member] | OMNI Trust II, 3 Month LIBOR Plus 2.79% [Member] | |||
Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | ||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, fixed interest, percentage rate | ' | ' | 7.04% | 2.40% | 5.00% | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument maturity date period, (in years) | ' | ' | ' | ' | 'P40Y | 'P7Y | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LIBOR plus rate | ' | ' | ' | ' | ' | ' | 3.25% | 3.15% | 2.00% | 1.60% | 3.15% | 1.44% | 2.75% | 2.54% | 3.50% | 3.30% | 2.79% |
3-month LIBOR rate | 0.25% | 0.31% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Nov. 30, 2007 | |
Debt Instrument [Line Items] | ' | ' | ' |
FHLB advance amortization period, in years, minimum | '6 years | ' | ' |
FHLB advance amortization period, in years, maximum | '30 years | ' | ' |
Weighted average advance rate on FHLB advances | 3.95% | 4.31% | ' |
Line of credit facility, maximum borrowing capacity | $155,000,000 | ' | ' |
Junior subordinated debt | ' | ' | 25,775,000 |
Securities maturity term, years | '30 years | ' | ' |
Securities earliest call date, years | '5 years | ' | ' |
Securities earliest call date, quarterly | '60 months | ' | ' |
Junior Subordinated Deferrable Interest Debentures [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Junior subordinated debt | 111,862,000 | ' | ' |
Statutory Trust I, 3 Month LIBOR Plus 3.25% [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Junior subordinated debt | 10,310,000 | 10,310,000 | ' |
Statutory Trust II, 3 Month LIBOR Plus 3.15% [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Junior subordinated debt | 10,310,000 | 10,310,000 | ' |
Statutory Trust III, 3 Month LIBOR Plus 2.00% [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Junior subordinated debt | 10,310,000 | 10,310,000 | ' |
Statutory Trust V, 3 Month LIBOR Plus 1.435% [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Junior subordinated debt | 10,310,000 | 10,310,000 | ' |
Statutory Trust IV, 3 Month LIBOR Plus 1.60% [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Junior subordinated debt | 15,464,000 | 15,464,000 | ' |
American Horizons Statutory Trust I, 3 Month LIBOR Plus 3.15% [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Junior subordinated debt | 6,186,000 | 6,186,000 | ' |
Statutory Trust VIII, 3 Month LIBOR Plus 3.50% [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Junior subordinated debt | 7,217,000 | 7,217,000 | ' |
OMNI Trust I, 3 Month LIBOR Plus 3.30% [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Junior subordinated debt | 8,248,000 | 8,248,000 | ' |
OMNI Trust II, 3 Month LIBOR Plus 2.79% [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Junior subordinated debt | 7,732,000 | 7,732,000 | ' |
Blanket Floating Lien [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Additional advances available from FHLB | 1,780,487,000 | ' | ' |
Pledge of Investment Securities [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Additional advances available from FHLB | $376,233,000 | ' | ' |
LongTerm_Debt_Maturities_of_Lo
Long-Term Debt - Maturities of Long-Term Debt and Advances (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
2014 | $10,344 | ' |
2015 | 1,220 | ' |
2016 | 28,863 | ' |
2017 | 50,567 | ' |
2018 | 7,900 | ' |
2019 and thereafter | 181,805 | ' |
Total long-term debt | $280,699 | $423,377 |
Income_Taxes_Schedule_of_Provi
Income Taxes - Schedule of Provision for Income Tax Expense (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current expense | ' | ' | ' | ' | ' | ' | ' | ' | $62,468 | $44,125 | $33,116 |
Deferred benefit | ' | ' | ' | ' | ' | ' | ' | ' | -35,943 | -7,527 | -11,750 |
Tax credits | ' | ' | ' | ' | ' | ' | ' | ' | -11,690 | -8,756 | -6,734 |
Tax benefits attributable to items charged to equity and goodwill | ' | ' | ' | ' | ' | ' | ' | ' | 1,034 | 654 | 2,349 |
Total income tax expense | ($9,175) | ($7,357) | ($4,213) | $4,876 | ($8,829) | ($8,144) | ($4,389) | ($7,134) | $15,869 | $28,496 | $16,981 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Tax payable, federal and state income taxes | $7,603,000 | ' | ' |
Tax receivable, federal and state income taxes | ' | 7,830,000 | ' |
Income tax rate reconciliation, federal statutory income tax rate | ' | 35.00% | ' |
Retained earnings of prior period | 21,864,000 | 21,864,000 | ' |
Interest or penalties recognized | $0 | $0 | $0 |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Effective Tax Rate (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal tax based on statutory rate | ' | ' | ' | ' | ' | ' | ' | ' | $28,340 | $36,712 | $24,682 |
Effect of tax-exempt income | ' | ' | ' | ' | ' | ' | ' | ' | -7,282 | -7,558 | -6,633 |
Interest and other nondeductible expenses | ' | ' | ' | ' | ' | ' | ' | ' | 2,007 | 1,847 | 1,487 |
State taxes | ' | ' | ' | ' | ' | ' | ' | ' | 3,237 | 4,938 | 3,034 |
Tax credits | ' | ' | ' | ' | ' | ' | ' | ' | -11,690 | -8,756 | -6,734 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 1,257 | 1,313 | 1,145 |
Total income tax expense | ($9,175) | ($7,357) | ($4,213) | $4,876 | ($8,829) | ($8,144) | ($4,389) | ($7,134) | $15,869 | $28,496 | $16,981 |
Effective tax rate | ' | ' | ' | ' | ' | ' | ' | ' | 19.60% | 27.20% | 24.10% |
Income_Taxes_Deferred_Tax_Asse
Income Taxes - Deferred Tax Assets and Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax asset: | ' | ' |
NOL carryforward | $1,001 | $1,720 |
Allowance for credit losses | 85,101 | 78,817 |
Discount on purchased loans | ' | 158 |
Deferred compensation | 6,315 | 5,193 |
Unrealized loss on cash flow hedges | ' | 471 |
Unrealized loss on available for sale investments | 8,880 | ' |
Basis difference in acquired assets | 70,136 | 120,893 |
OREO | 31,943 | 18,467 |
Other | 19,509 | 20,419 |
Subtotal | 222,885 | 246,138 |
Deferred tax liability: | ' | ' |
Basis difference in acquired assets | -130,426 | -170,860 |
Gain on acquisition | -17,693 | -34,358 |
FHLB stock | -36 | -19 |
Premises and equipment | -10,209 | -13,050 |
Acquisition intangibles | -12,113 | -11,267 |
Deferred loan costs | -2,915 | -3,405 |
Unrealized gain on available for sale investments | ' | -13,650 |
Investments acquired | -235 | -224 |
Swap gain | -75 | -2 |
Other | -11,089 | -14,300 |
Subtotal | -184,791 | -261,135 |
Deferred tax liability, net | $38,094 | ($14,997) |
Shareholders_Equity_and_Other_2
Shareholders' Equity and Other Comprehensive Income - Summary of Tax Effects of Each Component of Other Comprehensive Income (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Equity [Abstract] | ' | ' | ' |
Unrealized holding gains/losses arising during the period, Before-Tax Amount | ($62,095) | $2,174 | $36,328 |
Other-than-temporary impairment realized in net income, Before-Tax Amount | ' | ' | -509 |
Less: reclassification adjustment for losses/gains included in net income, Before-Tax Amount | -2,277 | -3,739 | -3,422 |
Net unrealized gains/losses, Before-Tax Amount | -64,372 | -1,565 | 32,397 |
Change in fair value of derivative instruments designated as cash flow hedges during the period, Before-Tax Amount | 953 | -22 | -19,078 |
Less: reclassification adjustment for gains/losses included in net income, Before-Tax Amount | 391 | 1,618 | 1,723 |
Fair value of derivative instruments designated as cash flow hedges, Before-Tax Amount | 1,344 | 1,596 | -17,355 |
Total other comprehensive income/loss, Before-Tax Amount | -63,028 | 31 | 15,042 |
Unrealized holding gains/losses arising during the period, Tax (Expense) Benefit | 21,733 | -761 | -12,715 |
Other-than-temporary impairment realized in net income, Tax (Expense) Benefit | ' | ' | 178 |
Less: reclassification adjustment for gains/losses included in net income, Tax (Expense) Benefit | 797 | 1,308 | 1,198 |
Net unrealized gains/losses, Tax (Expense) Benefit | 22,530 | 547 | -11,339 |
Change in fair value of derivative instruments designated as cash flow hedges during the period, Tax (Expense) Benefit | -333 | 8 | 6,677 |
Less: reclassification adjustment for gains/losses included in net income, Tax Expense (Benefit) | -137 | -566 | -603 |
Fair value of derivative instruments designated as cash flow hedges, Tax (Expense) Benefit | -470 | -558 | 6,074 |
Total other comprehensive income/loss, Tax Expense (Benefit) | 22,060 | -11 | -5,265 |
Unrealized holding gains/losses arising during the period, Net-of-Tax Amount | -40,362 | 1,413 | 23,613 |
Other-than-temporary impairment realized in net income, Net-of-Tax Amount | ' | ' | -331 |
Less: reclassification adjustment for losses/gains included in net income, Net-of-Tax Amount | -1,480 | -2,431 | -2,224 |
Net unrealized gains/losses, Net-of-Tax Amount | -41,842 | -1,018 | 21,058 |
Change in fair value of derivative instruments designated as cash flow hedges during the period, Net-of-Tax Amount | 620 | -14 | -12,401 |
Less: reclassification adjustment for gains/losses included in net income, Net-of-Tax Amount | 254 | 1,052 | 1,120 |
Fair value of derivative instruments designated as cash flow hedges, Net-of-Tax Amount | 874 | 1,038 | -11,281 |
Other comprehensive (loss) income, net of tax | ($40,968) | $20 | $9,777 |
Shareholders_Equity_and_Other_3
Shareholders' Equity and Other Comprehensive Income - Additional Information (Detail) | Dec. 31, 2013 | Oct. 31, 2011 |
Equity [Abstract] | ' | ' |
Number of shares authorized to repurchase | ' | 900,000 |
Shares available for repurchase | 46,692 | ' |
Capital_Requirements_and_Other2
Capital Requirements and Other Regulatory Matters - Actual Capital Amounts and Ratio's (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Consolidated [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tier 1 leverage, Minimum Amount | $507,760 | $488,803 |
Tier 1 risk-based capital, Minimum Amount | 426,002 | 366,792 |
Total risk-based capital, Minimum Amount | 852,005 | 733,583 |
Tier 1 leverage capital, Minimum Ratio | 4.00% | 4.00% |
Tier 1 risk-based capital, Minimum Ratio | 4.00% | 4.00% |
Total risk-based capital, Minimum Ratio | 8.00% | 8.00% |
Tier 1 leverage, Actual Amount | 1,231,886 | 1,185,144 |
Tier 1 risk-based capital, Actual Amount | 1,231,886 | 1,185,144 |
Total risk-based capital, Actual Amount | 1,365,280 | 1,301,498 |
Tier 1 leverage, Actual Ratio | 9.70% | 9.70% |
Tier 1 risk-based capital, Actual Ratio | 11.57% | 12.92% |
Total risk-based capital, Actual Ratio | 12.82% | 14.19% |
IBERIABANK [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tier 1 leverage, Minimum Amount | 505,723 | 486,307 |
Tier 1 risk-based capital, Minimum Amount | 424,578 | 365,230 |
Total risk-based capital, Minimum Amount | 849,157 | 730,461 |
Tier 1 leverage capital, Minimum Ratio | 4.00% | 4.00% |
Tier 1 risk-based capital, Minimum Ratio | 4.00% | 4.00% |
Total risk-based capital, Minimum Ratio | 8.00% | 8.00% |
Tier 1 leverage capital, Well Capitalized Amount | 632,154 | 607,884 |
Tier 1 risk-based capital, Well Capitalized Amount | 636,868 | 547,845 |
Total risk-based capital, Well Capitalized Amount | 1,061,446 | 913,076 |
Tier 1 leverage capital, Well Capitalized Ratio | 5.00% | 5.00% |
Tier 1 risk-based capital, Well Capitalized Ratio | 6.00% | 6.00% |
Total risk-based capital, Well Capitalized Ratio | 10.00% | 10.00% |
Tier 1 leverage, Actual Amount | 1,069,783 | 1,041,540 |
Tier 1 risk-based capital, Actual Amount | 1,069,783 | 1,041,540 |
Total risk-based capital, Actual Amount | $1,202,738 | $1,157,412 |
Tier 1 leverage, Actual Ratio | 8.46% | 8.57% |
Tier 1 risk-based capital, Actual Ratio | 10.08% | 11.41% |
Total risk-based capital, Actual Ratio | 11.33% | 12.68% |
ShareBased_Compensation_Additi
Share-Based Compensation - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
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 | 504,027 | ' | ' |
Minimum vesting period (in years) | '1 year 6 months | ' | ' |
Maximum vesting period (in years) | '7 years | ' | ' |
Excess tax benefits as financing cash inflows | $886,000 | $1,221,000 | $1,454,000 |
Net cash proceeds from exercise of stock options | 8,101,000 | 2,813,000 | 6,807,000 |
Aggregate intrinsic value of shares underlying outstanding stock options | 10,574,000 | ' | ' |
Aggregate intrinsic value of shares underlying exercisable stock options | 7,105,000 | ' | ' |
Total intrinsic value of options exercised | 2,740,000 | 1,765,000 | 6,783,000 |
Contributions made by the company to 401(k) plan | 1,345,000 | 1,305,000 | 1,177,000 |
Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Unearned compensation vesting period (in years) | '7 years | ' | ' |
Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Unearned compensation vesting period (in years) | '3 years | ' | ' |
Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Unearned share-based compensation associated with awards | 21,054,000 | ' | ' |
Employee Stock Option [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Unearned share-based compensation associated with awards | $3,963,000 | ' | ' |
Unrecognized compensation cost related to stock options expected to be recognized over a weighted-average period | '4 years 8 months 12 days | ' | ' |
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 | ' | ' |
ShareBased_Compensation_Compen
Share-Based Compensation - Compensation Expense Included in Noninterest Expense and Related Income Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Compensation expense related to stock options | $2,110 | $1,873 | $1,343 |
Income tax benefit related to stock options | $739 | $656 | $470 |
Impact on basic earnings per share | $0.05 | $0.04 | $0.03 |
Impact on diluted earnings per share | $0.05 | $0.04 | $0.03 |
ShareBased_Compensation_Estima
Share-Based Compensation - Estimate Fair Value of Share-Based Awards with Weighted-Average Assumptions (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology [Abstract] | ' | ' | ' |
Expected dividends | 2.60% | 2.70% | 2.40% |
Expected volatility | 34.80% | 40.10% | 35.50% |
Risk-free interest rate | 1.70% | 0.80% | 1.50% |
Expected term (in years) | '8 years 7 months 6 days | '5 years | '4 years |
Weighted-average grant-date fair value | $15.37 | $14.50 | $12.83 |
ShareBased_Compensation_Activi
Share-Based Compensation - Activity Related to Stock Options (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
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 | 1,301,539 |
Number of shares, Outstanding options, Granted | 75,722 | 230,665 | 55,121 |
Number of shares, Issued in connection with acquisition | ' | 32,863 | 41,975 |
Number of shares, Outstanding options, Exercised | -200,748 | -92,092 | -264,647 |
Number of shares, Outstanding options, Forfeited or expired | -38,220 | -32,981 | -36,368 |
Number of shares, Outstanding options, Ending balance | 1,072,829 | 1,236,075 | 1,097,620 |
Weighted average exercise price, Outstanding options, Beginning balance | $51.48 | $50.14 | $45.52 |
Number of shares, Exercisable options | 707,934 | 792,444 | 789,952 |
Weighted average exercise price, Outstanding options, Granted | $52.36 | $51.69 | $55.15 |
Weighted average exercise price, Issued in connection with acquisition | ' | $41.30 | $72.35 |
Weighted average exercise price, Outstanding options, Exercised | $40.35 | $30.43 | $30.99 |
Weighted average exercise price, Outstanding options, Forfeited or expired | $55.87 | $56.79 | $57.51 |
Weighted average exercise price, Outstanding options, Ending balance | $53.47 | $51.48 | $50.14 |
Weighted average exercise price, Exercisable options | $53.54 | $50.05 | $47.64 |
Weighted average remaining contract life, Outstanding options, Ending period | '4 years 8 months 12 days | ' | ' |
Weighted average remaining contract life, Exercisable options | '3 years 1 month 6 days | ' | ' |
ShareBased_Compensation_Schedu
Share-Based Compensation - Schedule of Weighted Average Remaining Life of Options Outstanding within Stated Exercise Prices (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price Range Per Share, Options Outstanding, Number of Options | 1,072,829 |
Exercise Price Range Per Share, Options Outstanding, Weighted Average Exercise Price | $53.47 |
Exercise Price Range Per Share, Options Outstanding, Weighted Average Remaining Life | '4 years 8 months 12 days |
Exercise Price Range Per Share, Options Exercisable, Number of Options | 707,934 |
Exercise Price Range Per Share, Options Exercisable, Weighted Average Exercise Price | $53.54 |
Exercise Price Range Per Share From 26.82 to $45.58 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price Range Per Share, Options Outstanding, Number of Options | 72,333 |
Exercise Price Range Per Share, Options Outstanding, Weighted Average Exercise Price | $42.61 |
Exercise Price Range Per Share, Options Outstanding, Weighted Average Remaining Life | '1 year 4 months 24 days |
Exercise Price Range Per Share, Options Exercisable, Number of Options | 72,047 |
Exercise Price Range Per Share, Options Exercisable, Weighted Average Exercise Price | $42.61 |
Exercise Price Range Per Share, Minimum | $26.82 |
Exercise Price Range Per Share, Maximum | $45.58 |
Exercise Price Range Per Share From 45.59 to $48.35 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price Range Per Share, Options Outstanding, Number of Options | 150,564 |
Exercise Price Range Per Share, Options Outstanding, Weighted Average Exercise Price | $46.91 |
Exercise Price Range Per Share, Options Outstanding, Weighted Average Remaining Life | '1 year 7 months 6 days |
Exercise Price Range Per Share, Options Exercisable, Number of Options | 140,696 |
Exercise Price Range Per Share, Options Exercisable, Weighted Average Exercise Price | $46.91 |
Exercise Price Range Per Share, Minimum | $45.59 |
Exercise Price Range Per Share, Maximum | $48.35 |
Exercise Price Range Per Share From 48.36 to $51.69 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price Range Per Share, Options Outstanding, Number of Options | 173,624 |
Exercise Price Range Per Share, Options Outstanding, Weighted Average Exercise Price | $50.15 |
Exercise Price Range Per Share, Options Outstanding, Weighted Average Remaining Life | '5 years 1 month 6 days |
Exercise Price Range Per Share, Options Exercisable, Number of Options | 91,673 |
Exercise Price Range Per Share, Options Exercisable, Weighted Average Exercise Price | $49.46 |
Exercise Price Range Per Share, Minimum | $48.36 |
Exercise Price Range Per Share, Maximum | $51.69 |
Exercise Price Range Per Share From 51.70 to $55.42 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price Range Per Share, Options Outstanding, Number of Options | 275,968 |
Exercise Price Range Per Share, Options Outstanding, Weighted Average Exercise Price | $53 |
Exercise Price Range Per Share, Options Outstanding, Weighted Average Remaining Life | '7 years 8 months 12 days |
Exercise Price Range Per Share, Options Exercisable, Number of Options | 90,084 |
Exercise Price Range Per Share, Options Exercisable, Weighted Average Exercise Price | $53.91 |
Exercise Price Range Per Share, Minimum | $51.70 |
Exercise Price Range Per Share, Maximum | $55.42 |
Exercise Price Range Per Share From 55.43 to $58.34 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price Range Per Share, Options Outstanding, Number of Options | 202,415 |
Exercise Price Range Per Share, Options Outstanding, Weighted Average Exercise Price | $56.97 |
Exercise Price Range Per Share, Options Outstanding, Weighted Average Remaining Life | '3 years 10 months 24 days |
Exercise Price Range Per Share, Options Exercisable, Number of Options | 158,166 |
Exercise Price Range Per Share, Options Exercisable, Weighted Average Exercise Price | $57.19 |
Exercise Price Range Per Share, Minimum | $55.43 |
Exercise Price Range Per Share, Maximum | $58.34 |
Exercise Price Range Per Share From 58.35 to $111.71 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price Range Per Share, Options Outstanding, Number of Options | 197,925 |
Exercise Price Range Per Share, Options Outstanding, Weighted Average Exercise Price | $62.42 |
Exercise Price Range Per Share, Options Outstanding, Weighted Average Remaining Life | '4 years 3 months 18 days |
Exercise Price Range Per Share, Options Exercisable, Number of Options | 155,268 |
Exercise Price Range Per Share, Options Exercisable, Weighted Average Exercise Price | $63.09 |
Exercise Price Range Per Share, Minimum | $58.35 |
Exercise Price Range Per Share, Maximum | $111.71 |
ShareBased_Compensation_Compen1
Share-Based Compensation - Compensation Expense Included in Salaries and Employee Benefits Expense Related to Restricted Stock Grants (Detail) (Restricted Stock [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Compensation expense related to restricted stock | $8,593 | $8,035 | $7,258 |
ShareBased_Compensation_Unvest
Share-Based Compensation - Unvested Restricted Stock Award Activity (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Balance at beginning of period | 538,202 | 512,112 | 539,195 |
Granted | 167,095 | 176,669 | 139,509 |
Forfeited | -28,713 | -13,164 | -35,823 |
Earned and issued | -152,828 | -137,415 | -130,769 |
Balance at end of period | 523,756 | 538,202 | 512,112 |
ShareBased_Compensation_Compen2
Share-Based Compensation - Compensation Expense of Phantom Stock (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Compensation expense related to stock options | $2,110 | $1,873 | $1,343 |
Phantom Stock Awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Compensation expense related to stock options | $4,855 | $2,185 | $1,368 |
ShareBased_Compensation_Schedu1
Share-Based Compensation - Schedule of Share and Dividend Equivalent Share Award Activity (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Number of share equivalents, Beginning Balance | 318,729 | 232,921 | 119,194 |
Number of share equivalents, Granted | 169,662 | 119,038 | 131,099 |
Number of share equivalents, Forfeited share equivalents | -18,975 | -10,949 | -5,917 |
Number of share equivalents, Vested share equivalents | -52,178 | -22,281 | -11,455 |
Number of share equivalents, Ending Balance | 417,238 | 318,729 | 232,921 |
Dividend equivalents, Beginning Balance | 16,035 | 8,942 | 3,741 |
Dividend equivalents, Granted | 11,189 | 9,152 | 6,152 |
Dividend equivalents, Forfeited share equivalents | -785 | -367 | -179 |
Dividend equivalents, Vested share equivalents | -4,088 | -1,692 | -772 |
Dividend equivalents, Ending Balance | 22,351 | 16,035 | 8,942 |
Dividend equivalents, Beginning Balance | 334,764 | 241,863 | 122,935 |
Dividend equivalents, Granted | 180,851 | 128,190 | 137,251 |
Dividend equivalents, Forfeited share equivalents | -19,760 | -11,316 | -6,096 |
Dividend equivalents, Vested share equivalents | -56,266 | -23,973 | -12,227 |
Dividend equivalents, Ending Balance | 439,589 | 334,764 | 241,863 |
Value of share equivalents, Beginning Balance | $16,444,000 | $11,924,000 | $7,269,000 |
Value of share equivalents, Granted | 11,366,000 | 6,297,000 | 6,766,000 |
Value of share equivalents, Forfeited share equivalents | 1,242,000 | 556,000 | 301,000 |
Value of share equivalents, Vested share equivalents | 2,922,000 | 1,180,000 | 622,000 |
Value of share equivalents, Ending Balance | $27,628,000 | $16,444,000 | $11,924,000 |
ShareBased_Compensation_Schedu2
Share-Based Compensation - Schedule of Share and Dividend Equivalent Share Award Activity (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Market price of Company's stock | $62.85 | $49.12 | $49.30 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | Dec. 31, 2013 |
Commitments Contingencies And Guarantees [Line Items] | ' |
Fair value of guarantees under commercial and standby letters of credit | $1,050,000 |
Minimum [Member] | ' |
Commitments Contingencies And Guarantees [Line Items] | ' |
Estimated losses associated with legal proceedings | 0 |
Maximum [Member] | ' |
Commitments Contingencies And Guarantees [Line Items] | ' |
Estimated losses associated with legal proceedings | $725,000 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Summary of Financial Instruments Outstanding (Detail) (Credit Risk Contract [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Credit Risk Contract [Member] | ' | ' |
Commitments Contingencies And Guarantees [Line Items] | ' | ' |
Commitments to grant loans | $221,627 | $192,295 |
Unfunded commitments under lines of credit | 3,326,448 | 2,372,971 |
Commercial and standby letters of credit | 105,026 | 62,207 |
Reserve for unfunded lending commitments | $11,147 | ' |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Schedule of Other Related Party Transactions [Line Items] | ' | ' | ' |
Deposits from related parties | $5,920,000 | $6,155,000 | ' |
Executive Officers And Directors And Their Affiliates [Member] | ' | ' | ' |
Schedule of Other Related Party Transactions [Line Items] | ' | ' | ' |
Loans and leases receivable, related parties | 101,000 | 750,000 | ' |
Total principal additions on loan | 41,000 | 252,000 | 931,000 |
Total principal payments on loan | 690,000 | 883,000 | 317,000 |
Related party, unfunded commitments | $37,000 | $390,000 | ' |
Fair_Value_Measurements_Summar
Fair Value Measurements - Summary of Difference Between the Aggregate Fair Value and the Aggregate Unpaid Prinicipal Balance for Mortgage Loans Held for Sale (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value Disclosures [Abstract] | ' | ' |
Mortgage loans held for sale, at fair value, Aggregate Fair Value | $97,273 | $0 |
Mortgage loans held for sale, at fair value, Aggregate Unpaid Principal | 96,875 | ' |
Mortgage loans held for sale, at fair value, Aggregate Fair Value Less Unpaid Principal | $398 | ' |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value Disclosures [Abstract] | ' | ' |
Total mortgage income in the consolidated statement of comprehensive income | $398,000 | ' |
Fair value assets additions to Level 1 purchases | 15,496,000 | ' |
Impaired non-covered loans with an outstanding balance | 4,099,000 | 7,269,000 |
Reserve in allowance for credit losses | 1,029,000 | 880,000 |
Asset impairment loss | 4,941,000 | 2,743,000 |
Book value of company owned branches after impairment loss | $5,131,000 | ' |
Fair_Value_Measurements_Financ
Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available for sale securities, Assets | $1,936,797 | $1,745,004 |
Mortgage loans held for sale, Assets | 97,273 | 0 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available for sale securities, Assets | 1,936,797 | 1,745,004 |
Mortgage loans held for sale, Assets | 97,273 | ' |
Derivative instruments, Assets | 30,076 | 42,119 |
Total, Assets | 2,064,146 | 1,787,123 |
Derivative instruments, Liabilities | 26,735 | 36,890 |
Total, Liabilities | 26,735 | 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 | 15,496 | ' |
Mortgage loans held for sale, Assets | ' | ' |
Derivative instruments, Assets | ' | ' |
Total, Assets | 15,496 | ' |
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 | 1,921,301 | 1,745,004 |
Mortgage loans held for sale, Assets | 97,273 | ' |
Derivative instruments, Assets | 30,076 | 42,119 |
Total, Assets | 2,048,650 | 1,787,123 |
Derivative instruments, Liabilities | 26,735 | 36,890 |
Total, Liabilities | 26,735 | 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 | ' | ' |
Mortgage loans held for sale, Assets | ' | ' |
Derivative instruments, Assets | ' | ' |
Total, Assets | ' | ' |
Derivative instruments, Liabilities | ' | ' |
Total, Liabilities | ' | ' |
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 $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 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) | ($2,862) |
Other Comprehensive Income [Member] | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Change in unrealized gains (losses) relating to assets still held at December 31, 2013 | ($40,968) |
Fair_Value_Measurements_Financ1
Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value Measurements [Line Items] | ' | ' |
Mortgage loans held for sale, Assets | $97,273 | $0 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Measurements [Line Items] | ' | ' |
Loans, Assets | 3,070 | 6,388 |
Mortgage loans held for sale, Assets | 11,876 | 32,753 |
OREO, Assets | 14,598 | 20,427 |
Total, Assets | 29,544 | 59,568 |
Fair Value, Measurements, Nonrecurring [Member] | Level 1 [Member] | ' | ' |
Fair Value Measurements [Line Items] | ' | ' |
Loans, Assets | ' | ' |
Mortgage loans held for sale, Assets | ' | ' |
OREO, Assets | ' | ' |
Total, Assets | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | ' | ' |
Fair Value Measurements [Line Items] | ' | ' |
Loans, Assets | 3,070 | 6,388 |
Mortgage loans held for sale, Assets | 11,876 | 32,753 |
OREO, Assets | 14,598 | 20,427 |
Total, Assets | 29,544 | 59,568 |
Fair Value, Measurements, Nonrecurring [Member] | 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) | 12 Months Ended |
Dec. 31, 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 $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Financial Assets | ' | ' | ' | ' |
Cash and cash equivalents | $391,396 | $970,977 | $573,296 | $337,778 |
FDIC loss share receivable | 162,312 | 423,069 | ' | ' |
Financial Liabilities | ' | ' | ' | ' |
Deposits | 10,737,000 | 10,748,277 | ' | ' |
Short-term borrowings | 680,344 | 303,045 | 395,543 | ' |
Long-term debt | 280,699 | 423,377 | ' | ' |
Carrying Amount [Member] | ' | ' | ' | ' |
Financial Assets | ' | ' | ' | ' |
Cash and cash equivalents | 391,396 | 626,517 | ' | ' |
Investment securities | 2,090,906 | 2,149,990 | ' | ' |
Loans and loans held for sale | 9,620,461 | 8,783,011 | ' | ' |
FDIC loss share receivable | 162,312 | 284,471 | ' | ' |
Derivative instruments | 30,076 | 42,119 | ' | ' |
Accrued interest receivable | 32,143 | 32,707 | ' | ' |
Financial Liabilities | ' | ' | ' | ' |
Deposits | 10,737,000 | 10,686,268 | ' | ' |
Short-term borrowings | 680,344 | 294,156 | ' | ' |
Long-term debt | 280,699 | 323,046 | ' | ' |
Derivative instruments | 26,735 | 36,890 | ' | ' |
Accrued interest payable | 6,102 | 6,421 | ' | ' |
Fair Value [Member] | ' | ' | ' | ' |
Financial Assets | ' | ' | ' | ' |
Cash and cash equivalents | 391,396 | 626,517 | ' | ' |
Investment securities | 2,089,363 | 1,956,502 | ' | ' |
Loans and loans held for sale | 9,724,432 | 8,800,563 | ' | ' |
FDIC loss share receivable | 21,918 | 207,222 | ' | ' |
Derivative instruments | 30,076 | 42,119 | ' | ' |
Accrued interest receivable | 32,143 | 32,707 | ' | ' |
Financial Liabilities | ' | ' | ' | ' |
Deposits | 10,226,573 | 10,594,885 | ' | ' |
Short-term borrowings | 680,344 | 294,156 | ' | ' |
Long-term debt | 235,503 | 394,490 | ' | ' |
Derivative instruments | 26,735 | 36,890 | ' | ' |
Accrued interest payable | $6,102 | $6,421 | ' | ' |
Restrictions_on_Dividends_Loan1
Restrictions on Dividends, Loans and Advances - Additional Information (Detail) (USD $) | Dec. 31, 2013 |
Disclosure Restrictions On Dividends Loans And Advances Narrative [Abstract] | ' |
Dividends payable by parent | $23,580,000 |
Funds available for loans or advances | $122,401,000 |
Business_Segments_Additional_I
Business Segments - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Segment | |
Segment Reporting [Abstract] | ' |
No of business segments | 3 |
Business_Segments_Schedule_of_
Business Segments - Schedule of Discontinued Operations (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | $114,092 | $108,512 | $108,177 | $106,416 | $114,779 | $111,951 | $109,283 | $109,187 | $437,197 | $445,200 | $420,327 |
Interest expense | 10,654 | 11,060 | 11,695 | 13,545 | 14,789 | 15,225 | 16,111 | 17,326 | 46,953 | 63,450 | 82,069 |
Net interest income | 103,438 | 97,452 | 96,482 | 92,871 | 99,990 | 96,726 | 93,172 | 91,861 | 390,244 | 381,750 | 338,258 |
Provision for loan losses | -4,700 | -2,014 | -1,807 | 3,377 | -4,866 | -4,053 | -8,895 | -2,857 | 5,145 | 20,671 | 25,867 |
Mortgage income | ' | ' | ' | ' | ' | ' | ' | ' | 64,197 | 78,053 | 45,177 |
Title income | ' | ' | ' | ' | ' | ' | ' | ' | 20,526 | 20,987 | 18,048 |
Other non-interest income | 38,696 | 43,250 | 42,546 | 42,132 | 50,358 | 46,512 | 40,793 | 34,560 | ' | ' | ' |
Other non-interest expenses | ' | ' | ' | ' | ' | ' | ' | ' | 25,633 | 21,894 | 23,802 |
Income (loss) before income taxes expenses | 34,779 | 30,549 | 19,803 | -4,159 | 32,037 | 29,378 | 16,949 | 26,527 | 80,972 | 104,891 | 70,519 |
Income tax provision (benefit) | -9,175 | -7,357 | -4,213 | 4,876 | -8,829 | -8,144 | -4,389 | -7,134 | 15,869 | 28,496 | 16,981 |
Net income (loss) | 25,604 | 23,192 | 15,590 | 717 | 23,208 | 21,234 | 12,560 | 19,393 | 65,103 | 76,395 | 53,538 |
Total assets | 13,365,550 | ' | ' | ' | 13,129,678 | ' | ' | ' | 13,365,550 | 13,129,678 | ' |
Total deposits | 10,737,000 | ' | ' | ' | 10,748,277 | ' | ' | ' | 10,737,000 | 10,748,277 | ' |
Operating Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 437,197 | 445,200 | 420,327 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 46,953 | 63,450 | 82,069 |
Net interest income | ' | ' | ' | ' | ' | ' | ' | ' | 390,244 | 381,750 | 338,258 |
Provision for loan losses | ' | ' | ' | ' | ' | ' | ' | ' | 5,145 | 20,671 | 25,867 |
Mortgage income | ' | ' | ' | ' | ' | ' | ' | ' | 64,197 | 78,053 | 45,177 |
Title income | ' | ' | ' | ' | ' | ' | ' | ' | 20,526 | 20,987 | 18,048 |
Other non-interest income | ' | ' | ' | ' | ' | ' | ' | ' | 84,235 | 76,957 | 68,634 |
Core deposit intangible amortization | ' | ' | ' | ' | ' | ' | ' | ' | 4,499 | 4,900 | 4,961 |
Allocated expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other non-interest expenses | ' | ' | ' | ' | ' | ' | ' | ' | 468,586 | 427,285 | 368,770 |
Income (loss) before income taxes expenses | ' | ' | ' | ' | ' | ' | ' | ' | 80,972 | 104,891 | 70,519 |
Income tax provision (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 15,869 | 28,496 | 16,981 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 65,103 | 76,395 | 53,538 |
Total loans and loans held for sale | 9,620,461 | ' | ' | ' | 8,766,055 | ' | ' | ' | 9,620,461 | 8,766,055 | 7,541,050 |
Total assets | 13,365,550 | ' | ' | ' | 13,129,678 | ' | ' | ' | 13,365,550 | 13,129,678 | 11,757,928 |
Total deposits | 10,737,000 | ' | ' | ' | 10,748,277 | ' | ' | ' | 10,737,000 | 10,748,277 | 9,289,013 |
Average assets | ' | ' | ' | ' | ' | ' | ' | ' | 13,003,988 | 12,096,972 | 10,890,190 |
Operating Segments [Member] | Iberiabank [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 431,418 | 439,245 | 416,118 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 45,150 | 61,349 | 80,861 |
Net interest income | ' | ' | ' | ' | ' | ' | ' | ' | 386,268 | 377,896 | 335,257 |
Provision for loan losses | ' | ' | ' | ' | ' | ' | ' | ' | 5,123 | 20,550 | 25,706 |
Mortgage income | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 6 | -114 |
Title income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other non-interest income | ' | ' | ' | ' | ' | ' | ' | ' | 84,243 | 76,967 | 68,631 |
Core deposit intangible amortization | ' | ' | ' | ' | ' | ' | ' | ' | 4,499 | 4,900 | 4,961 |
Allocated expenses | ' | ' | ' | ' | ' | ' | ' | ' | 7,453 | 3,282 | -2,649 |
Other non-interest expenses | ' | ' | ' | ' | ' | ' | ' | ' | 402,170 | 361,428 | 315,406 |
Income (loss) before income taxes expenses | ' | ' | ' | ' | ' | ' | ' | ' | 66,174 | 71,273 | 60,350 |
Income tax provision (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 10,035 | 15,192 | 12,921 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 56,139 | 56,081 | 47,429 |
Total loans and loans held for sale | 9,472,908 | ' | ' | ' | 8,485,363 | ' | ' | ' | 9,472,908 | 8,485,363 | 7,377,540 |
Total assets | 13,168,162 | ' | ' | ' | 12,796,811 | ' | ' | ' | 13,168,162 | 12,796,811 | 11,550,594 |
Total deposits | 10,735,030 | ' | ' | ' | 10,745,528 | ' | ' | ' | 10,735,030 | 10,745,528 | 9,287,929 |
Average assets | ' | ' | ' | ' | ' | ' | ' | ' | 12,795,123 | 11,879,761 | 10,756,795 |
Operating Segments [Member] | IMC [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 5,747 | 5,858 | 3,917 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 1,803 | 2,101 | 808 |
Net interest income | ' | ' | ' | ' | ' | ' | ' | ' | 3,944 | 3,757 | 3,109 |
Provision for loan losses | ' | ' | ' | ' | ' | ' | ' | ' | 22 | 121 | 161 |
Mortgage income | ' | ' | ' | ' | ' | ' | ' | ' | 64,195 | 78,047 | 45,291 |
Title income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other non-interest income | ' | ' | ' | ' | ' | ' | ' | ' | -10 | -10 | 3 |
Core deposit intangible amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allocated expenses | ' | ' | ' | ' | ' | ' | ' | ' | -5,471 | -2,340 | 1,747 |
Other non-interest expenses | ' | ' | ' | ' | ' | ' | ' | ' | 49,723 | 49,084 | 36,320 |
Income (loss) before income taxes expenses | ' | ' | ' | ' | ' | ' | ' | ' | 12,967 | 30,249 | 10,175 |
Income tax provision (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 5,093 | 11,871 | 3,993 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 7,874 | 18,378 | 6,182 |
Total loans and loans held for sale | 147,553 | ' | ' | ' | 280,692 | ' | ' | ' | 147,553 | 280,692 | 163,510 |
Total assets | 173,131 | ' | ' | ' | 308,152 | ' | ' | ' | 173,131 | 308,152 | 181,261 |
Total deposits | 2,970 | ' | ' | ' | 2,749 | ' | ' | ' | 2,970 | 2,749 | 1,079 |
Average assets | ' | ' | ' | ' | ' | ' | ' | ' | 183,513 | 194,832 | 106,773 |
Operating Segments [Member] | Lenders [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 32 | 97 | 292 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400 |
Net interest income | ' | ' | ' | ' | ' | ' | ' | ' | 32 | 97 | -108 |
Provision for loan losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mortgage income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Title income | ' | ' | ' | ' | ' | ' | ' | ' | 20,526 | 20,987 | 18,048 |
Other non-interest income | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' |
Core deposit intangible amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allocated expenses | ' | ' | ' | ' | ' | ' | ' | ' | -2,036 | -942 | 902 |
Other non-interest expenses | ' | ' | ' | ' | ' | ' | ' | ' | 16,693 | 16,773 | 17,044 |
Income (loss) before income taxes expenses | ' | ' | ' | ' | ' | ' | ' | ' | 1,831 | 3,369 | -6 |
Income tax provision (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 741 | 1,433 | 67 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 1,090 | 1,936 | -73 |
Total loans and loans held for sale | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | 24,257 | ' | ' | ' | 24,715 | ' | ' | ' | 24,257 | 24,715 | 26,073 |
Total deposits | -1,000 | ' | ' | ' | ' | ' | ' | ' | -1,000 | ' | 5 |
Average assets | ' | ' | ' | ' | ' | ' | ' | ' | $25,352 | $22,379 | $26,622 |
Recovered_Sheet1
Condensed Parent Company only Financial Statements - Condensed Balance Sheets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Cash in bank | $238,672 | $248,214 | ' | ' |
Other assets | 554,167 | 565,719 | ' | ' |
Total Assets | 13,365,550 | 13,129,678 | ' | ' |
Liabilities | 11,834,571 | 11,599,810 | ' | ' |
Shareholders' Equity | 1,530,979 | 1,529,868 | 1,482,661 | 1,303,457 |
Total liabilities and shareholders' equity | 13,365,550 | 13,129,678 | ' | ' |
IBERIABANK Corporation [Member] | ' | ' | ' | ' |
Cash in bank | 98,108 | 63,207 | ' | ' |
Investment in subsidiaries | 1,487,337 | 1,506,671 | ' | ' |
Other assets | 80,528 | 89,966 | ' | ' |
Total Assets | 1,665,973 | 1,659,844 | ' | ' |
Liabilities | 134,994 | 129,976 | ' | ' |
Shareholders' Equity | 1,530,979 | 1,529,868 | ' | ' |
Total liabilities and shareholders' equity | $1,665,973 | $1,659,844 | ' | ' |
Recovered_Sheet2
Condensed Parent Company only Financial Statements - Condensed Statements of Income (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | $23,737 | $21,838 | $15,549 |
Interest expense | 10,654 | 11,060 | 11,695 | 13,545 | 14,789 | 15,225 | 16,111 | 17,326 | 46,953 | 63,450 | 82,069 |
Salaries and employee benefits expense | ' | ' | ' | ' | ' | ' | ' | ' | 244,981 | 233,777 | 193,773 |
Other expenses | ' | ' | ' | ' | ' | ' | ' | ' | 25,633 | 21,894 | 23,802 |
Income (loss) before income tax (expense) benefit and increase in equity in undistributed earnings of subsidiaries | 34,779 | 30,549 | 19,803 | -4,159 | 32,037 | 29,378 | 16,949 | 26,527 | 80,972 | 104,891 | 70,519 |
Income tax benefit | -9,175 | -7,357 | -4,213 | 4,876 | -8,829 | -8,144 | -4,389 | -7,134 | 15,869 | 28,496 | 16,981 |
Net Income | 25,604 | 23,192 | 15,590 | 717 | 23,208 | 21,234 | 12,560 | 19,393 | 65,103 | 76,395 | 53,538 |
IBERIABANK Corporation [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends from bank subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 49,000 | 70,000 | ' |
Dividends from non-bank subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 1,511 | ' | ' |
Reimbursement of management expenses | ' | ' | ' | ' | ' | ' | ' | ' | 34,474 | 94,053 | 74,664 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 869 | -836 | -1,176 |
Total operating income | ' | ' | ' | ' | ' | ' | ' | ' | 85,854 | 163,217 | 73,488 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 3,232 | 3,427 | 2,101 |
Salaries and employee benefits expense | ' | ' | ' | ' | ' | ' | ' | ' | 29,159 | 76,527 | 63,505 |
Other expenses | ' | ' | ' | ' | ' | ' | ' | ' | 13,676 | 47,309 | 33,546 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 46,067 | 127,263 | 99,152 |
Income (loss) before income tax (expense) benefit and increase in equity in undistributed earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 39,787 | 35,954 | -25,664 |
Income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | -2,808 | -11,842 | -8,219 |
Income (loss) before equity in undistributed earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 42,595 | 47,796 | -17,445 |
Equity in undistributed earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 22,508 | 28,599 | 70,983 |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | $65,103 | $76,395 | $53,538 |
Condensed_Parent_Company_only_2
Condensed Parent Company only Financial Statements - Condensed Statements of Cash Flows (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income | $65,103 | $76,395 | $53,538 |
Depreciation and amortization | 25,388 | 21,685 | 16,772 |
Loss on sale of assets | -251 | -42 | -943 |
Derivative losses on swaps | ' | 874 | ' |
Tax benefit associated with share-based payment arrangements | -886 | -1,221 | -1,454 |
Other, net | 77,792 | 7,319 | 1,572 |
Net Cash Provided by (Used in) Operating Activities | 309,783 | -12,188 | 15,758 |
Cash received in excess of cash paid in acquisition | ' | 32,425 | 79,288 |
Proceeds from sale of premises and equipment | 8,714 | 1,274 | 3,227 |
Purchases of premises and equipment | -16,941 | -32,825 | -44,055 |
Net Cash (Used in) Provided by Investing Activities | -1,080,607 | -527,676 | 25,732 |
Proceeds from long-term debt | 2,867 | 24,086 | 3,176 |
Repayments of long-term debt | -144,609 | -80,770 | -47,227 |
Dividends paid to shareholders | -40,332 | -40,069 | -38,558 |
Proceeds from sale of treasury stock for stock options exercised | 8,101 | 2,813 | 6,807 |
Payments to repurchase common stock | -2,280 | -42,245 | -43,219 |
Tax benefit associated with share-based payment arrangements | 886 | 1,221 | 1,454 |
Net Cash Provided by Financing Activities | 191,243 | 937,545 | 194,028 |
Net Increase (Decrease) in Cash and Cash Equivalents | -579,581 | 397,681 | 235,518 |
Cash and Cash Equivalents at Beginning of Period | 970,977 | 573,296 | 337,778 |
Cash and Cash Equivalents at End of Period | 391,396 | 970,977 | 573,296 |
IBERIABANK Corporation [Member] | ' | ' | ' |
Net income | 65,103 | 76,395 | 53,538 |
Depreciation and amortization | 2,035 | 4,926 | 1,071 |
Net income of subsidiaries | -73,019 | -98,599 | -70,983 |
Noncash compensation expense | 10,703 | 9,907 | 9,114 |
Loss on sale of assets | ' | 7 | ' |
Derivative losses on swaps | ' | 2 | ' |
Tax benefit associated with share-based payment arrangements | -886 | -1,221 | -1,454 |
Other, net | 7,575 | -10,557 | -23,278 |
Net Cash Provided by (Used in) Operating Activities | 11,511 | -19,140 | -31,992 |
Cash received in excess of cash paid in acquisition | ' | 1,272 | ' |
Proceeds from sale of premises and equipment | 11,751 | 5 | 10 |
Purchases of premises and equipment | -5,247 | -4,173 | -3,655 |
Capital contributed to subsidiary | ' | -2,000 | -12,963 |
Dividends received from subsidiaries | 50,511 | 70,000 | ' |
Acquisition | ' | ' | ' |
Net Cash (Used in) Provided by Investing Activities | 57,015 | 65,104 | -16,608 |
Proceeds from long-term debt | ' | ' | ' |
Repayments of long-term debt | ' | -2,867 | -13,500 |
Dividends paid to shareholders | -40,332 | -40,069 | -38,558 |
Proceeds from sale of treasury stock for stock options exercised | 8,101 | 2,813 | 6,807 |
Payments to repurchase common stock | -2,280 | -42,245 | -43,219 |
Tax benefit associated with share-based payment arrangements | 886 | 1,221 | 1,454 |
Net Cash Provided by Financing Activities | -33,625 | -81,147 | -87,016 |
Net Increase (Decrease) in Cash and Cash Equivalents | 34,901 | -35,183 | -135,616 |
Cash and Cash Equivalents at Beginning of Period | 63,207 | 98,390 | 234,006 |
Cash and Cash Equivalents at End of Period | $98,108 | $63,207 | $98,390 |
Quarterly_Results_of_Operation2
Quarterly Results of Operations - Schedule of Quarterly Results of Operations (Unaudited) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total interest income | $114,092 | $108,512 | $108,177 | $106,416 | $114,779 | $111,951 | $109,283 | $109,187 | $437,197 | $445,200 | $420,327 |
Total interest expense | 10,654 | 11,060 | 11,695 | 13,545 | 14,789 | 15,225 | 16,111 | 17,326 | 46,953 | 63,450 | 82,069 |
Net interest income | 103,438 | 97,452 | 96,482 | 92,871 | 99,990 | 96,726 | 93,172 | 91,861 | 390,244 | 381,750 | 338,258 |
Provision for (Reversal of) loan losses | 4,700 | 2,014 | 1,807 | -3,377 | 4,866 | 4,053 | 8,895 | 2,857 | -5,145 | -20,671 | -25,867 |
Net interest income after provision for loan losses | 98,738 | 95,438 | 94,675 | 96,248 | 95,124 | 92,673 | 84,277 | 89,004 | 385,099 | 361,079 | 312,391 |
Gain (loss) on sale of investments, net | 19 | 13 | -57 | 2,359 | -4 | 41 | 901 | 2,836 | 2,277 | 3,739 | 3,422 |
Other noninterest income | 38,696 | 43,250 | 42,546 | 42,132 | 50,358 | 46,512 | 40,793 | 34,560 | ' | ' | ' |
Noninterest expense | 102,674 | 108,152 | 117,361 | 144,898 | 113,441 | 109,848 | 109,022 | 99,873 | 473,085 | 432,185 | 373,731 |
Income (loss) before income taxes expenses | 34,779 | 30,549 | 19,803 | -4,159 | 32,037 | 29,378 | 16,949 | 26,527 | 80,972 | 104,891 | 70,519 |
Income tax expense | 9,175 | 7,357 | 4,213 | -4,876 | 8,829 | 8,144 | 4,389 | 7,134 | -15,869 | -28,496 | -16,981 |
Net income | 25,604 | 23,192 | 15,590 | 717 | 23,208 | 21,234 | 12,560 | 19,393 | 65,103 | 76,395 | 53,538 |
Preferred stock dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income available to common shareholders | 25,604 | 23,192 | 15,590 | 717 | 23,208 | 21,234 | 12,560 | 19,393 | 65,103 | 76,395 | 53,538 |
Earnings Allocated to Unvested Restricted Stock | -456 | -425 | -293 | -20 | -428 | -406 | -240 | -364 | -1,209 | -1,437 | -967 |
Earnings available to common shareholders - Diluted | $25,148 | $22,767 | $15,297 | $697 | $22,780 | $20,828 | $12,320 | $19,029 | $63,894 | $74,958 | $52,571 |
Earnings per share - Basic | $0.86 | $0.78 | $0.53 | $0.02 | $0.79 | $0.73 | $0.43 | $0.66 | $2.20 | $2.59 | $1.88 |
Earnings per share - Diluted | $0.86 | $0.78 | $0.53 | $0.02 | $0.79 | $0.73 | $0.43 | $0.66 | $2.20 | $2.59 | $1.87 |
Cash dividends declared per common share | $0.34 | $0.34 | $0.34 | $0.34 | $0.34 | $0.34 | $0.34 | $0.34 | $1.36 | $1.36 | $1.36 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 |
Subsequent Events [Member] | Subsequent Events [Member] | ||
Teche [Member] | First Private [Member] | ||
Branch | Branch | ||
Subsequent Event [Line Items] | ' | ' | ' |
Number of branches | ' | 20 | 2 |
Shares received | 1.162 | ' | 0.27 |