Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 31, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'IBKC | ' |
Entity Registrant Name | 'IBERIABANK CORP | ' |
Entity Central Index Key | '0000933141 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 33,446,577 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $257,147 | $238,672 |
Interest-bearing deposits in banks | 410,860 | 152,724 |
Total cash and cash equivalents | 668,007 | 391,396 |
Securities available for sale, at fair value | 2,103,828 | 1,936,797 |
Securities held to maturity (fair values of $122,458 and $152,566, respectively) | 120,520 | 154,109 |
Mortgage loans held for sale ($148,530 and $97,273 recorded at fair value, respectively) | 148,530 | 128,442 |
Loans covered by loss share agreements | 524,189 | 719,793 |
Non-covered loans, net of unearned income | 10,555,010 | 8,772,226 |
Total loans, net of unearned income | 11,079,199 | 9,492,019 |
Allowance for loan losses | -134,540 | -143,074 |
Loans, net | 10,944,659 | 9,348,945 |
FDIC loss share receivables | 94,712 | 162,312 |
Premises and equipment, net | 307,868 | 287,510 |
Goodwill | 526,242 | 401,872 |
Other assets | 602,243 | 554,167 |
Total Assets | 15,516,609 | 13,365,550 |
Liabilities | ' | ' |
Non-interest-bearing | 3,157,453 | 2,575,939 |
Interest-bearing | 9,220,322 | 8,161,061 |
Total deposits | 12,377,775 | 10,737,000 |
Short-term borrowings | 812,783 | 680,344 |
Long-term debt | 355,569 | 280,699 |
Other liabilities | 152,934 | 136,528 |
Total Liabilities | 13,699,061 | 11,834,571 |
Shareholders' Equity | ' | ' |
Preferred stock, $1 par value-5,000,000 shares authorized | ' | ' |
Common stock, $1 par value-50,000,000 shares authorized; 35,262,901 and 31,917,385 shares issued, respectively | 35,263 | 31,917 |
Additional paid-in capital | 1,394,618 | 1,178,284 |
Retained earnings | 473,885 | 436,141 |
Accumulated other comprehensive income (loss) | -256 | -16,491 |
Treasury stock at cost-1,822,042 and 2,130,841 shares, respectively | -85,962 | -98,872 |
Total Shareholders' Equity | 1,817,548 | 1,530,979 |
Total Liabilities and Shareholders' Equity | $15,516,609 | $13,365,550 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Securities held to maturity, fair values | $122,458 | $152,566 |
Mortgage loans held for sale recorded at fair value | $148,530 | $97,273 |
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 | 35,262,901 | 31,917,385 |
Treasury stock, shares | 1,822,042 | 2,130,841 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Interest and Dividend Income | ' | ' | ' | ' |
Loans, including fees | $144,846 | $120,035 | $389,124 | $358,344 |
Mortgage loans held for sale, including fees | 1,594 | 1,289 | 3,953 | 3,965 |
Investment securities: | ' | ' | ' | ' |
Taxable interest | 9,551 | 7,837 | 28,411 | 22,241 |
Tax-exempt interest | 1,443 | 1,649 | 4,500 | 5,082 |
Amortization of FDIC loss share receivable | -25,120 | -22,875 | -61,393 | -68,707 |
Other | 853 | 577 | 2,024 | 2,180 |
Total interest and dividend income | 133,167 | 108,512 | 366,619 | 323,105 |
Interest Expense | ' | ' | ' | ' |
NOW and MMDA | 5,046 | 4,441 | 13,353 | 14,462 |
Savings | 88 | 71 | 235 | 238 |
Time deposits | 4,067 | 4,012 | 10,093 | 13,038 |
Short-term borrowings | 406 | 104 | 1,022 | 365 |
Long-term debt | 2,519 | 2,432 | 7,489 | 8,196 |
Total interest expense | 12,126 | 11,060 | 32,192 | 36,299 |
Net interest income | 121,041 | 97,452 | 334,427 | 286,806 |
Provision for loan losses | 5,714 | 2,014 | 12,565 | 445 |
Net interest income after provision for loan losses | 115,327 | 95,438 | 321,862 | 286,361 |
Non-interest Income | ' | ' | ' | ' |
Service charges on deposit accounts | 10,205 | 7,512 | 25,421 | 21,415 |
Mortgage income | 12,814 | 15,202 | 40,903 | 51,841 |
Title revenue | 5,577 | 5,482 | 15,007 | 16,199 |
ATM/debit card fee income | 3,287 | 2,476 | 8,691 | 7,017 |
Income from bank owned life insurance | 1,047 | 908 | 4,423 | 2,747 |
Gain (loss) on sale of available for sale investments | 582 | -3 | 609 | 2,259 |
Derivative losses reclassified from other comprehensive income | ' | ' | ' | -392 |
Broker commissions | 5,297 | 3,950 | 14,823 | 11,347 |
Other income | 6,854 | 7,736 | 19,430 | 17,809 |
Total non-interest income | 45,663 | 43,263 | 129,307 | 130,242 |
Non-interest Expense | ' | ' | ' | ' |
Salaries and employee benefits | 64,934 | 59,234 | 193,641 | 185,578 |
Net occupancy and equipment | 14,883 | 14,572 | 44,977 | 44,050 |
Impairment of FDIC loss share receivables and other long-lived assets | 4,741 | 1,319 | 5,378 | 37,750 |
Communication and delivery | 2,525 | 2,899 | 8,756 | 9,286 |
Marketing and business development | 2,624 | 2,350 | 8,886 | 8,486 |
Data processing | 5,693 | 4,837 | 21,196 | 13,093 |
Amortization of acquisition intangibles | 1,493 | 1,179 | 3,954 | 3,543 |
Professional services | 4,267 | 4,156 | 13,575 | 13,675 |
Costs of OREO property, net | -587 | -359 | 1,070 | 980 |
Credit and other loan related expense | 4,569 | 5,248 | 11,208 | 13,093 |
Insurance | 3,846 | 3,125 | 10,518 | 8,408 |
Travel and entertainment | 2,290 | 1,912 | 6,745 | 6,199 |
Other expenses | 8,782 | 7,680 | 24,959 | 26,269 |
Total non-interest expense | 120,060 | 108,152 | 354,863 | 370,410 |
Income before income tax expense | 40,930 | 30,549 | 96,306 | 46,193 |
Income tax expense | 11,186 | 7,357 | 25,619 | 6,694 |
Net Income | 29,744 | 23,192 | 70,687 | 39,499 |
Income Available to Common Shareholders-Basic | 29,744 | 23,192 | 70,687 | 39,499 |
Earnings Allocated to Unvested Restricted Stock | -448 | -425 | -1,159 | -744 |
Earnings Available to Common Shareholders-Diluted | 29,296 | 22,767 | 69,528 | 38,755 |
Earnings per common share-Basic | $0.89 | $0.78 | $2.26 | $1.34 |
Earnings per common share-Diluted | $0.89 | $0.78 | $2.25 | $1.33 |
Cash dividends declared per common share | $0.34 | $0.34 | $1.02 | $1.02 |
Unrealized gains on securities: | ' | ' | ' | ' |
Unrealized holding gains (losses) arising during the period | -7,032 | 5,528 | 25,586 | -38,769 |
Less: reclassification adjustment for (gains) losses included in net income | -582 | 3 | -609 | -2,259 |
Net unrealized losses/gains, Before-Tax Amount | -7,614 | 5,531 | 24,977 | -41,028 |
Fair value of derivative instruments designated as cash flow hedges: | ' | ' | ' | ' |
Change in fair value of derivative instruments designated as cash flow hedges during the period | ' | ' | ' | 952 |
Less: reclassification adjustment for losses (gains) included in net income | ' | ' | ' | 392 |
Fair value of derivative instruments designated as cash flow hedges, before tax | ' | ' | ' | 1,344 |
Other comprehensive income (loss), before tax | -7,614 | 5,531 | 24,977 | -39,684 |
Income tax expense (benefit) related to items of other comprehensive (loss) income | -2,665 | 1,936 | 8,742 | -13,890 |
Other comprehensive income (loss), net of tax | -4,949 | 3,595 | 16,235 | -25,794 |
Comprehensive income (loss) | $24,795 | $26,787 | $86,922 | $13,705 |
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, 2012 | $1,529,868 | $31,917 | $1,176,180 | $411,472 | $24,477 | ($114,178) |
Beginning balance, Shares at Dec. 31, 2012 | ' | 31,917,385 | ' | ' | ' | 2,427,640 |
Net income | 39,499 | ' | ' | 39,499 | ' | ' |
Other comprehensive income (loss) | -25,794 | ' | ' | ' | -25,794 | ' |
Cash dividends declared, $1.02 per share | -30,307 | ' | ' | -30,307 | ' | ' |
Reissuance of treasury stock under incentive plans, net of shares surrendered in payment, including tax benefit | 4,003 | ' | -966 | ' | ' | 4,969 |
Reissuance of treasury stock under incentive plans, Shares | ' | ' | ' | ' | ' | -94,949 |
Treasury stock issued for recognition and retention plans | ' | ' | -8,016 | ' | ' | 8,016 |
Treasury stock issued for recognition and retention plans, Shares | ' | ' | ' | ' | ' | -149,765 |
Share-based compensation cost | 7,999 | ' | 7,999 | ' | ' | ' |
Ending balance at Sep. 30, 2013 | 1,525,268 | 31,917 | 1,175,197 | 420,664 | -1,317 | -101,193 |
Ending balance, Shares at Sep. 30, 2013 | ' | 31,917,385 | ' | ' | ' | 2,182,926 |
Beginning balance at Dec. 31, 2013 | 1,530,979 | 31,917 | 1,178,284 | 436,141 | -16,491 | -98,872 |
Beginning balance, Shares at Dec. 31, 2013 | ' | 31,917,385 | ' | ' | ' | 2,130,841 |
Net income | 70,687 | ' | ' | 70,687 | ' | ' |
Other comprehensive income (loss) | 16,235 | ' | ' | ' | 16,235 | ' |
Cash dividends declared, $1.02 per share | -32,943 | ' | ' | -32,943 | ' | ' |
Reissuance of treasury stock under incentive plans, net of shares surrendered in payment, including tax benefit | 8,998 | ' | 2,168 | ' | ' | 6,830 |
Reissuance of treasury stock under incentive plans, Shares | ' | ' | ' | ' | ' | -180,423 |
Common stock issued for acquisitions | 214,665 | 3,346 | 211,319 | ' | ' | ' |
Common stock issued for acquisitions, Shares | ' | 3,345,516 | ' | ' | ' | ' |
Treasury stock issued for recognition and retention plans | ' | ' | -6,080 | ' | ' | 6,080 |
Treasury stock issued for recognition and retention plans, Shares | ' | ' | ' | ' | ' | -128,376 |
Share-based compensation cost | 8,927 | ' | 8,927 | ' | ' | ' |
Ending balance at Sep. 30, 2014 | $1,817,548 | $35,263 | $1,394,618 | $473,885 | ($256) | ($85,962) |
Ending balance, Shares at Sep. 30, 2014 | ' | 35,262,901 | ' | ' | ' | 1,822,042 |
Consolidated_Statements_of_Sha1
Consolidated Statements of Shareholders' Equity (Parenthetical) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Cash dividends declared per share | $1.02 | $1.02 |
Retained Earnings [Member] | ' | ' |
Cash dividends declared per share | $1.02 | $1.02 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Cash Flows from Operating Activities | ' | ' |
Net income | $70,687 | $39,499 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 12,190 | 19,851 |
Amortization of purchase accounting adjustments, net | 7,899 | -1,186 |
Provision for loan losses | 12,565 | 445 |
Share-based equity compensation expense | 8,927 | 7,999 |
Loss (Gain) on sale of assets, net | 7 | -51 |
Gain on sale of available for sale investments | -609 | -2,259 |
Gain on sale of OREO, net | -3,253 | -5,211 |
Loss on abandonment of fixed assets | ' | 4,941 |
Impairment of FDIC loss share receivables | 5,097 | 31,813 |
Amortization of premium/discount on investments | 10,248 | 15,426 |
Derivative (gains) losses on swaps | 1 | -209 |
(Benefit) provision for deferred income taxes | -24,328 | -7,802 |
Originations of mortgage loans held for sale | -1,218,684 | -1,712,557 |
Proceeds from sales of mortgage loans held for sale | 1,234,694 | 1,923,455 |
Gain on sale of mortgage loans held for sale, net | -41,412 | -51,709 |
Tax benefit associated with share-based payment arrangements | -1,163 | -495 |
Decrease (Increase) in other assets | 21,553 | -15,759 |
Other operating activities, net | -14,634 | 30,079 |
Net Cash Provided by Operating Activities | 79,785 | 276,270 |
Cash Flows from Investing Activities | ' | ' |
Proceeds from sales of securities available for sale | 20,531 | 44,672 |
Proceeds from maturities, prepayments and calls of securities available for sale | 413,069 | 618,059 |
Purchases of securities available for sale | -540,197 | -935,341 |
Proceeds from maturities, prepayments and calls of securities held to maturity | 32,880 | 54,372 |
Purchases of securities held to maturity | ' | -5,901 |
Reimbursement of recoverable covered asset losses (to) from the FDIC | -457 | 56,311 |
Increase in loans receivable, net | -476,329 | -595,315 |
Proceeds from sale of premises and equipment | 6,217 | 7,371 |
Purchases of premises and equipment | -26,587 | -12,592 |
Proceeds from disposition of real estate owned | 69,124 | 76,150 |
Investment in tax credit entities | -10,384 | -1,696 |
Cash received in excess of cash paid for acquisition | 188,803 | ' |
Other investing activities, net | -16,073 | 8,963 |
Net Cash Used in Investing Activities | -339,403 | -684,947 |
Cash Flows from Financing Activities | ' | ' |
Increase in deposits, net of deposits acquired | 497,970 | 202,959 |
Net change in short-term borrowings, net of borrowings acquired | 77,338 | -44,196 |
Proceeds from long-term debt | 4,637 | 2,230 |
Repayments of long-term debt | -21,012 | -143,625 |
Dividends paid to shareholders | -31,701 | -30,223 |
Proceeds from sale of treasury stock for stock options exercised | 11,141 | 5,441 |
Payments to repurchase common stock | -3,307 | -1,933 |
Common stock issued | ' | ' |
Tax benefit associated with share-based payment arrangements | 1,163 | 495 |
Net Cash Provided by (Used in) Financing Activities | 536,229 | -8,852 |
Net Increase (Decrease) In Cash and Cash Equivalents | 276,611 | -417,529 |
Cash and Cash Equivalents at Beginning of Period | 391,396 | 970,977 |
Cash and Cash Equivalents at End of Period | 668,007 | 553,448 |
Supplemental Schedule of Noncash Activities | ' | ' |
Acquisition of real estate in settlement of loans | 20,219 | 82,383 |
Common stock issued in acquisition | 214,665 | ' |
Transfers of property into Other Real Estate | 30,442 | 82,383 |
Supplemental Disclosures Cash paid for: | ' | ' |
Interest on deposits and borrowings | 30,984 | 36,888 |
Income taxes, net | $42,933 | $19,891 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended | |||
Sep. 30, 2014 | ||||
Accounting Policies [Abstract] | ' | |||
Basis of Presentation | ' | |||
NOTE 1 – BASIS OF PRESENTATION | ||||
The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include information or footnotes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with generally accepted accounting principles. These interim financial statements should be read in conjunction with the audited consolidated financial statements and note disclosures for IBERIABANK Corporation (the “Company”) previously filed with the Securities and Exchange Commission (the “SEC”) in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | ||||
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, 1887 Leasing 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. 1887 Leasing LLC owns an aircraft used by management of the Company, and IB Aircraft Holdings, LLC owns a fractional share of a separate aircraft also used by management. 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. | ||||
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 | ||||
Mortgage loans originated and held for sale are recorded at fair value under the fair value option, unless otherwise noted. When determining the fair value of loans held for sale, the Company obtains quotes or bids on these loans directly from the purchasing financial institutions (Level 2). See Note 17 for additional information related to mortgage loans held for sale. | ||||
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 (Level 1), if available, or the fair value of the collateral if the loan is collateral dependent (Level 2). Measuring the impairment of loans using the present value of expected future cash flows, discounted at the loan’s effective interest rate, is not considered a fair value measurement. Fair value of the collateral is determined by appraisals or independent valuation. | ||||
Other real estate owned (OREO) | ||||
Fair values of OREO at September 30, 2014 and 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 $0.5 million and $1.4 million in earnings for the three months ended September 30, 2014 and 2013, respectively, and $1.9 million and $4.0 million for the nine months ended September 30, 2014 and 2013, 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. See Note 12 for further discussion and details related to derivative financial instruments. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Changes and Error Corrections [Abstract] | ' |
Recent Accounting Pronouncements | ' |
NOTE 2 – RECENT ACCOUNTING PRONOUNCEMENTS | |
ASU No. 2014-01 | |
In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-01, Investments – Equity Method and Joint Ventures, in order to provide guidance on accounting for investments in flow-through limited liability entities that manage or invest in affordable housing projects that qualify for low-income housing tax credit (“LIHTC”). Through the Company’s investments in these entities, the Company receives tax credits and/or tax deductions from operating losses, which are allowable on the Company’s filed income tax returns over a 10-year period, subject to recapture over a 15-year period beginning with the first year the tax credits are earned. | |
Under current U.S. generally accepted accounting principles (“U.S. GAAP”), the Company may elect to account for the investments using the effective yield method if certain conditions are met, and if they are not met, the investments are accounted for under either the equity method or the cost method. The Company currently accounts for its investments under the equity method. Alternatively, the provisions of ASU No. 2014-01 permit the Company to make an accounting policy election to account for its investments in LIHTC entities using the proportional amortization method if certain conditions are met. Under the proportional amortization method, the Company would amortize the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognize the net investment performance in the Company’s consolidated statements of comprehensive income as a component of income tax expense or benefit. ASU No. 2014-01 would also require the Company to disclose information that enables users of the consolidated financial statements to understand the nature of the Company’s investments, the measurement of these investments, and their effect on the Company’s financial position and results of operations. | |
ASU No. 2014-01 is effective beginning with the Company’s first quarter ending March 31, 2015, with early adoption permitted. If adopted, the provisions of ASU No. 2014-01 would be applied retrospectively to all financial statement periods presented. The Company is currently assessing the effect that a change in accounting policy would have on its consolidated financial statements, but does not anticipate that the potential accounting policy change to the proportional amortization method would be material to the financial condition, results of operations, or liquidity of the Company. The expanded disclosures required by ASU No. 2014-01 will be incorporated in the Company’s future consolidated financial statements upon adoption. | |
ASU No. 2014-04 | |
In January 2014, the FASB issued ASU No. 2014-04, Receivables-Troubled Debt Restructurings by Creditors: Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure, in order to clarify when a creditor should reclassify mortgage loans collateralized by residential real estate from their loan portfolio to other real estate owned (“OREO”) upon foreclosure. ASU No. 2014-04 clarifies that an in-substance repossession or foreclosure has occurred when either the creditor obtains legal title to the property or the borrower conveys all interest in the property to the creditor to satisfy the loan through completion of a deed in-lieu-of foreclosure or similar legal agreement. Additionally, ASU No. 2014-04 requires the Company to disclose both the amount of foreclosed residential real estate property held and the investment in consumer mortgage loans collateralized by residential real estate that are in the process of foreclosure. | |
ASU No. 2014-04 is effective beginning with the Company’s first quarter ending March 31, 2015, with early adoption permitted. When adopting the provisions of ASU No. 2014-04, the Company could apply the provisions using either a prospective transition method or a modified retrospective method. The Company is currently assessing the effect that the adoption would have on its consolidated financial statements, but does not anticipate that adoption would materially affect the Company’s financial condition, results of operations, or liquidity. The expanded disclosures required by this ASU will be incorporated in the Company’s future consolidated financial statements upon adoption. | |
ASU No. 2014-09 | |
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which implements a common revenue standard and clarifies the principles used for recognizing revenue. The amendments in the ASU clarify that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. As part of that principle, the entity should identify the contract(s) with the customer, identify the performance obligations of the contract, determine the transaction price, allocate that transaction price to the performance obligation(s) of the contract, and then recognize revenue when or as the entity satisfies the performance obligation(s). | |
ASU No. 2014-09 is effective beginning with the Company’s first quarter ending March 31, 2017. The Company is currently assessing the effect the adoption of this ASU will have on its consolidated financial statements, but the Company does not expect adoption will have a significant impact on the Company’s consolidated financial statements. | |
ASU No. 2014-11 | |
In June 2014, the FASB issued ASU No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosure, which will implement two accounting changes. | |
ASU No. 2014-11 changes the accounting for repurchase-to-maturity transactions to secured borrowing accounting. For repurchase financing arrangements, ASU 2014-11 requires separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. The amendments in ASU 2014-11 also require certain disclosures for transfer of financial assets and repurchase agreements. | |
ASU 2014-11 is effective beginning with the Company’s first quarter ending March 31, 2015. Early adoption is not permitted. Changes will be applied as a cumulative-effect adjustment to retained earnings at the beginning of the adoption period. The disclosures of certain transactions accounted for as a sale is required to be presented beginning with the Company’s first quarter ending March 31, 2015. The company is currently assessing the effect that the adoption of this ASU will have on its Consolidated financial statements, but the Company does not expect that such adoption will have a significant impact on the Company’s consolidated financial statements. | |
ASU No. 2014-14 | |
In August 2014, the FASB issued ASU No. 2014-14, Receivables- Troubled Debt Restructurings by Creditors: Classification of Certain Government-Guaranteed Mortgage Loans Upon Foreclosure, in order to clarify how creditors classify government-guaranteed mortgage loans upon foreclosure, including loans guaranteed by the Federal Housing Administration (“FHA”) of the U.S. Department of Housing and Urban Development and the U.S. Department of Veteran Affairs (“VA”). | |
ASU No. 2014-14 clarifies that a mortgage loan should be derecognized and that a separate other receivable be recognized upon foreclosure in creditor financial statements if 1) the loan has a government guarantee that is not separable from the loan before foreclosure, 2) at the time of foreclosure the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and 3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance, including principal and interest, expected to be recovered from the guarantor. | |
ASU No. 2014-14 is effective beginning with the Company’s first quarter ending March 31, 2015, using either a prospective transition method (application of the amendments of the ASU to foreclosures occurring after the adoption date) or modified retrospective transition method (by means of a cumulative-effect adjustment through a reclassification to a separate other receivable). The Company is currently assessing the effect that the adoption of this ASU will have on its consolidated financial statements, but the Company does not expect that such adoption will have a significant impact on the Company’s consolidated financial statements. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
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 periods indicated. | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands, except per share data) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Income available to common shareholders | $ | 29,744 | $ | 23,192 | $ | 70,687 | $ | 39,499 | |||||||||
Distributed earnings (capital) to unvested restricted stock | (444 | ) | (421 | ) | (1,134 | ) | (744 | ) | |||||||||
Distributed earnings (capital) to common shareholders—basic | 29,300 | 22,771 | 69,553 | 38,755 | |||||||||||||
Undistributed earnings reallocated to unvested restricted stock | (4 | ) | (4 | ) | (25 | ) | — | ||||||||||
Distributed and undistributed earnings to common shareholders—diluted | $ | 29,296 | $ | 22,767 | $ | 69,528 | $ | 38,755 | |||||||||
Weighted average shares outstanding—basic (1) | 33,309,881 | 29,631,799 | 31,316,267 | 29,582,081 | |||||||||||||
Weighted average shares outstanding—diluted | 32,926,969 | 29,147,232 | 30,923,050 | 29,062,238 | |||||||||||||
Earnings per common share—basic | $ | 0.89 | $ | 0.78 | $ | 2.26 | $ | 1.34 | |||||||||
Earnings per common share—diluted | 0.89 | 0.78 | 2.25 | 1.33 | |||||||||||||
Earnings per unvested restricted stock share—basic | 0.88 | 0.77 | 2.16 | 1.33 | |||||||||||||
Earnings per unvested restricted stock share—diluted | 0.89 | 0.78 | 2.21 | 1.33 | |||||||||||||
-1 | Weighted average basic shares outstanding include 506,464 and 547,155 shares of unvested restricted stock for the three months ended September 30, 2014 and 2013, respectively, and 525,441 and 559,556 shares for the nine months ended September 30, 2014 and 2013, respectively. | ||||||||||||||||
Additional information on the Company’s basic earnings per common share is shown in the following table. | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands, except per share data) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Distributed earnings to common shareholders | $ | 11,200 | $ | 9,926 | $ | 32,430 | $ | 29,736 | |||||||||
Undistributed earnings (distributed capital) to common shareholders | 18,100 | 12,845 | 37,123 | 9,019 | |||||||||||||
Total earnings to common shareholders | $ | 29,300 | $ | 22,771 | $ | 69,553 | $ | 38,755 | |||||||||
Distributed earnings to unvested restricted stock | $ | 170 | $ | 183 | $ | 529 | $ | 571 | |||||||||
Undistributed earnings (distributed capital) to unvested restricted stock | 274 | 238 | 605 | 173 | |||||||||||||
Total earnings allocated to restricted stock | $ | 444 | $ | 421 | $ | 1,134 | $ | 744 | |||||||||
Distributed earnings per common share | $ | 0.34 | $ | 0.34 | $ | 1.05 | $ | 1.03 | |||||||||
Undistributed earnings (distributed capital) per common share | 0.55 | 0.44 | 1.21 | 0.31 | |||||||||||||
Total earnings per common share—basic | $ | 0.89 | $ | 0.78 | $ | 2.26 | $ | 1.34 | |||||||||
Distributed earnings per unvested restricted stock share | $ | 0.34 | $ | 0.34 | $ | 1.01 | $ | 1.02 | |||||||||
Undistributed earnings (distributed capital) per unvested restricted stock share | 0.54 | 0.43 | 1.15 | 0.31 | |||||||||||||
Total earnings per unvested restricted stock share—basic | $ | 0.88 | $ | 0.77 | $ | 2.16 | $ | 1.33 | |||||||||
For the three months ended September 30, 2014 and 2013, the calculations for basic shares outstanding exclude the weighted average shares owned by the Recognition and Retention Plan (“RRP”) of 621,341 and 642,764, respectively, and are adjusted for the weighted average shares in treasury stock of 1,838,144 and 2,189,978, respectively. For the nine months ended September 30, 2014 and 2013, basic shares outstanding exclude 630,320 and 645,793 shares owned by the RRP, respectively, and are adjusted for 1,901,277 and 2,249,068 shares, respectively, of weighted average shares of treasury stock. | |||||||||||||||||
The effects from the assumed exercises of 12,765 and 402,344 stock options were not included in the computation of diluted earnings per share for the three months ended September 30, 2014 and 2013, respectively, because such amounts would have had an antidilutive effect on earnings per common share. For the nine months ended September 30, 2014 and 2013, the effects from the assumed exercise of 12,765 and 678,604 stock options, respectively, was not included in the computation of diluted earnings per share because such amounts would have had an antidilutive effect on earnings per common share. |
Acquisition_Activity
Acquisition Activity | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||
Acquisition Activity | ' | ||||||||||||
NOTE 4 –ACQUISITION ACTIVITY | |||||||||||||
Acquisition of Certain Assets and Liabilities of Trust One Bank | |||||||||||||
On January 17, 2014, IBERIABANK acquired certain assets and assumed certain liabilities of the Memphis, Tennessee operations of Trust One Bank, a division of Synovus Bank (hereby referred to as “Trust One-Memphis”). Under terms of the agreement, Synovus Bank paid IBERIABANK $91.6 million in cash to acquire four Trust One-Memphis branches in the Memphis, Tennessee market, which resulted in goodwill of $8.6 million. With this acquisition, IBERIABANK expanded its presence in the Memphis, Tennessee Metropolitan Statistical Area (“MSA”) through the addition of four branches and an experienced in-market team that enhances IBERIABANK’s ability to compete in that market. | |||||||||||||
Acquisition of Teche Holding Company | |||||||||||||
On May 31, 2014, the Company acquired Teche Holding Company (“Teche”), the holding company of Teche Federal Bank, a New Iberia, Louisiana-based commercial bank servicing south Louisiana. Under terms of the agreement, for each share of Teche stock outstanding, Teche shareholders received 1.162 shares of the Company’s common stock, as well as a cash payment for any fractional share and unexercised option to purchase Teche stock. The Company acquired all of the outstanding common stock of the former Teche shareholders for total consideration of $156.7 million, which resulted in goodwill of $84.8 million, as shown in the table below. With this acquisition, IBERIABANK expanded its presence in the Acadiana region of Louisiana through the addition of 20 branches and an experienced in-market team that enhances IBERIABANK’s ability to compete in that market. The Company projects cost savings will be recognized in future periods through the elimination of redundant operations. The following summarizes consideration paid and a preliminary allocation of purchase price to net assets acquired. | |||||||||||||
(Dollars in thousands) | Number of Shares | Amount | |||||||||||
Equity consideration | |||||||||||||
Common stock issued | 2,498,007 | $ | 156,026 | ||||||||||
Total equity consideration | 156,026 | ||||||||||||
Non-Equity consideration | |||||||||||||
Cash | 714 | ||||||||||||
Total consideration paid | 156,740 | ||||||||||||
Fair value of net assets assumed including identifiable intangible assets | 71,954 | ||||||||||||
Goodwill | $ | 84,786 | |||||||||||
Acquisition of First Private Holdings, Inc. | |||||||||||||
On June 30, 2014, the Company acquired First Private Holdings, Inc. (“First Private”), the holding company of First Private Bank of Texas, a Dallas, Texas-based commercial bank with four branch locations, including two mobile branches. Under terms of the agreement, for each share of First Private stock outstanding, First Private shareholders received 0.27 of a share of the Company’s common stock, as well as a cash payment for any fractional share. The Company acquired all of the outstanding common stock of the former First Private shareholders for total consideration of $58.6 million, which resulted in goodwill of $30.6 million, as shown in the table below. With this acquisition, IBERIABANK expanded its presence into the Dallas, Texas MSA through the addition of branches and an experienced in-market team. The Company projects cost savings will be recognized in future periods through the elimination of redundant operations. The following summarizes consideration paid and a preliminary allocation of purchase price to net assets acquired. | |||||||||||||
(Dollars in thousands) | Number of Shares | Amount | |||||||||||
Equity consideration | |||||||||||||
Common stock issued | 847,509 | $ | 58,639 | ||||||||||
Total equity consideration | 58,639 | ||||||||||||
Non-Equity consideration | |||||||||||||
Cash | 1 | ||||||||||||
Total consideration paid | 58,640 | ||||||||||||
Fair value of net liabilities assumed including identifiable intangible assets | 28,029 | ||||||||||||
Goodwill | $ | 30,611 | |||||||||||
The Company accounted for the aforementioned business combinations as purchase business combinations. Accordingly, the purchase price is allocated to the fair value of the assets acquired and liabilities assumed as of the date of acquisition. The following purchase price allocations on these acquisitions are preliminary and will be finalized upon the receipt of final valuations on certain assets and liabilities. Upon receipt of final fair value estimates, which must be within one year of the acquisition dates, the Company will make any final adjustments to the purchase price allocation and retrospectively adjust any goodwill recorded. Material adjustments to acquisition date estimated fair values would be recorded in the period in which the acquisition occurred, and as a result, previously reported results are subject to change. Information regarding the Company’s loan discount and related deferred tax asset, core deposit intangible asset and related deferred tax liability, as well as income taxes payable and the related deferred tax balances, recorded in the acquisitions may be adjusted as the Company refines its estimates of the current and deferred tax balances acquired, as well as the fair values of loans acquired, core deposit intangible asset, and the deferred tax assets or liabilities created from the acquisition. Determining the fair value of assets and liabilities, particularly illiquid assets and liabilities, is a complicated process involving significant judgment regarding estimates and assumptions used to calculate estimated fair value. Fair value adjustments based on updated estimates could materially affect the goodwill recorded on the acquisition. The Company may incur losses on the acquired loans that are materially different from losses the Company originally projected. | |||||||||||||
The acquired assets and liabilities, as well as the preliminary adjustments to record the assets and liabilities at their estimated fair values, are presented in the following tables. | |||||||||||||
Trust One - Memphis | Preliminary | ||||||||||||
Fair Value | As recorded by | ||||||||||||
(Dollars in thousands) | As Acquired | Adjustments | IBERIABANK | ||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 92,060 | $ | — | $ | 92,060 | |||||||
Loans | 88,179 | (1,726 | )(1) | 86,453 | |||||||||
Other real estate owned | 1,325 | — | 1,325 | ||||||||||
Core deposit intangible | — | 2,597 | (2) | 2,597 | |||||||||
Other assets | 368 | — | 368 | ||||||||||
Total Assets | $ | 181,932 | $ | 871 | $ | 182,803 | |||||||
Liabilities | |||||||||||||
Interest-bearing deposits | $ | 164,942 | $ | — | $ | 164,942 | |||||||
Non-interest-bearing deposits | 26,373 | — | 26,373 | ||||||||||
Deferred tax liability | — | — | — | ||||||||||
Other liabilities | 84 | — | 84 | ||||||||||
Total Liabilities | $ | 191,399 | $ | — | $ | 191,399 | |||||||
Explanation of certain fair value adjustments | |||||||||||||
(1) | The amount represents the adjustment of the book value of Trust One-Memphis loans to their estimated fair value based on current interest rates and expected cash flows, which includes estimates of expected credit losses inherent in the portfolio. | ||||||||||||
(2) | The amount represents the fair value of the core deposit intangible asset created in the acquisition. | ||||||||||||
Teche | Preliminary | ||||||||||||
Fair Value | As recorded by | ||||||||||||
(Dollars in thousands) | As Acquired | Adjustments | IBERIABANK | ||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 71,611 | $ | — | $ | 71,611 | |||||||
Investment securities | 24,077 | 1,092 | (1) | 25,169 | |||||||||
Loans | 716,196 | (16,636 | )(2) | 699,560 | |||||||||
Other real estate owned | 329 | (153 | )(3) | 176 | |||||||||
Core deposit intangible | — | 2,055 | (4) | 2,055 | |||||||||
Deferred tax asset | 1,057 | 7,337 | (5) | 8,394 | |||||||||
Other assets | 56,752 | (6,261 | )(6) | 50,491 | |||||||||
Total Assets | $ | 870,022 | $ | (12,566 | ) | $ | 857,456 | ||||||
Liabilities | |||||||||||||
Interest-bearing deposits | $ | 520,446 | $ | 902 | (7) | $ | 521,348 | ||||||
Non-interest-bearing deposits | 118,256 | — | 118,256 | ||||||||||
Borrowings | 134,228 | 6,304 | (8) | 140,532 | |||||||||
Other liabilities | 5,366 | — | 5,366 | ||||||||||
Total Liabilities | $ | 778,296 | $ | 7,206 | $ | 785,502 | |||||||
Explanation of certain fair value adjustments | |||||||||||||
(1) | The amount represents the adjustment to the book value of Teche’s investments to their estimated fair value based on fair values on the date of acquisition. | ||||||||||||
(2) | The amount represents the adjustment of the book value of Teche loans to their estimated fair value based on current interest rates and expected cash flows, which includes estimates of expected credit losses inherent in the portfolio. | ||||||||||||
(3) | The amount represents the adjustment to the book value of Teche’s OREO to their estimated fair value on the date of acquisition. | ||||||||||||
(4) | The amount represents the fair value of the core deposit intangible asset created in the acquisition. | ||||||||||||
(5) | The amount represents the deferred tax asset recognized on the fair value adjustment of Teche acquired assets and assumed liabilities. | ||||||||||||
(6) | The amount represents the write down of the book value of Teche’s property, equipment, and other assets to their estimated fair value at the acquisition date based on their appraised value. | ||||||||||||
(7) | The adjustment is necessary because the weighted average interest rate of Teche’s deposits exceeded the cost of similar funding at the time of acquisition. The fair value adjustment will be amortized to reduce future interest expense over the life of the portfolio, which is estimated at 85 months. | ||||||||||||
(8) | The adjustment is necessary because the interest rate of Teche’s borrowings exceeded current interest rates on similar borrowings. | ||||||||||||
First Private | Preliminary | ||||||||||||
Fair Value | As recorded by | ||||||||||||
(Dollars in thousands) | As Acquired | Adjustments | IBERIABANK | ||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 26,621 | $ | — | $ | 26,621 | |||||||
Investment securities | 18,920 | 297 | (1) | 19,217 | |||||||||
Loans | 295,736 | (910 | )(2) | 294,826 | |||||||||
Other real estate owned | — | — | — | ||||||||||
Core deposit intangible | — | 506 | (3) | 506 | |||||||||
Deferred tax asset (liability) | 530 | 122 | (4) | 652 | |||||||||
Other assets | 5,230 | — | 5,230 | ||||||||||
Total Assets | $ | 347,037 | $ | 15 | $ | 347,052 | |||||||
Liabilities | |||||||||||||
Interest-bearing deposits | $ | 261,713 | $ | 220 | (5) | $ | 261,933 | ||||||
Non-interest-bearing deposits | 50,333 | — | 50,333 | ||||||||||
Borrowings | 6,451 | — | 6,451 | ||||||||||
Other liabilities | 306 | — | 306 | ||||||||||
Total Liabilities | $ | 318,803 | $ | 220 | $ | 319,023 | |||||||
Explanation of certain fair value adjustments | |||||||||||||
(1) | The amount represents the adjustment to the book value of First Private’s investments to their estimated fair value based on fair values on the date of acquisition. | ||||||||||||
(2) | The amount represents the adjustment of the book value of First Private loans to their estimated fair value based on current interest rates and expected cash flows, which includes estimates of expected credit losses inherent in the portfolio. | ||||||||||||
(3) | The amount represents the fair value of the core deposit intangible asset created in the acquisition. | ||||||||||||
(4) | The amount represents the deferred tax liability recognized on the fair value adjustment of First Private acquired assets and assumed liabilities. | ||||||||||||
(5) | The adjustment is necessary because the weighted average interest rate of First Private’s deposits exceeded the cost of similar funding at the time of acquisition. The fair value adjustment will be amortized to reduce future interest expense over the life of the portfolio, which is estimated at 85 months. | ||||||||||||
Acquisitions of LTC | |||||||||||||
On February 24, 2014, the Company’s subsidiary, LTC, acquired the assets of The Title Company LLC. Under terms of the agreement, LTC paid $0.4 million in cash to acquire a title office in Baton Rouge, Louisiana, which resulted in goodwill of $0.2 million. | |||||||||||||
On May 1, 2014, LTC acquired the assets of Louisiana Abstract and Title, LLC. Under terms of the agreement, LTC paid $0.2 million in cash to acquire a title office in Shreveport, Louisiana. In addition, the agreement provides for potential additional cash consideration based on earnings over a four-year period after the acquisition. | |||||||||||||
The acquisitions were accounted for under the purchase method of accounting in accordance with ASC Topic 805. Purchased assets were recorded at their acquisition date fair values. Identifiable intangible assets were recorded at fair value. Because the consideration paid was greater than the net fair value of the acquired assets, the Company recorded goodwill as part of the acquisitions. The goodwill recognized was the result of LTC’s expanded presence into the Baton Rouge and Shreveport Louisiana MSAs and experienced in-market teams that enhance its ability to compete in those markets. As part of the acquisitions, LTC also acquired or created the following other assets: | |||||||||||||
Louisiana Abstract and Title | |||||||||||||
(Dollars in thousands) | The Title Company LLC | LLC | |||||||||||
Goodwill | $ | 221 | $ | 155 | |||||||||
Non-compete agreement | 63 | 100 | |||||||||||
Title plant | 14 | 9 | |||||||||||
Other intangible assets | 75 | 130 | |||||||||||
Other assets | 3 | 6 | |||||||||||
Total Assets | $ | 376 | $ | 400 | |||||||||
Supplemental unaudited pro forma information | |||||||||||||
The following unaudited pro forma information for the nine months ended September 30, 2013 reflects the Company’s estimated consolidated results of operations as if the acquisitions of Trust One-Memphis, Teche, and First Private occurred at January 1, 2013, unadjusted for potential cost savings and preliminary purchase price adjustments. | |||||||||||||
(Dollars in thousands, except per share data) | 2013 | ||||||||||||
Interest and non-interest income | $ | 500,638 | |||||||||||
Net income | 46,139 | ||||||||||||
Earnings per share—basic | 1.4 | ||||||||||||
Earnings per share—diluted | 1.4 | ||||||||||||
The Company’s consolidated financial statements as of and for the nine months ended September 30, 2014 include the operating results of the acquired assets and assumed liabilities for the days subsequent to the respective acquisition dates. Due to the system conversion of the acquired entities throughout the current nine-month period and subsequent integration of the operating activities of the acquired branches into existing Company markets, historical reporting for the former Trust One-Memphis, Teche, and First Private branches is impracticable and thus disclosure of the revenue from the assets acquired and income before income taxes is impracticable for the period subsequent to acquisition. |
Investment_Securities
Investment Securities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Investment Securities | ' | ||||||||||||||||||||||||
NOTE 5 – INVESTMENT SECURITIES | |||||||||||||||||||||||||
The amortized cost and fair values of investment securities, with gross unrealized gains and losses, consist of the following: | |||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
(Dollars in thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 359,404 | $ | 1,465 | $ | (5,926 | ) | $ | 354,943 | ||||||||||||||||
Obligations of state and political obligations | 87,895 | 3,891 | — | 91,786 | |||||||||||||||||||||
Mortgage-backed securities | 1,656,341 | 11,613 | (12,338 | ) | 1,655,616 | ||||||||||||||||||||
Other securities | 1,460 | 23 | — | 1,483 | |||||||||||||||||||||
Total securities available for sale | $ | 2,105,100 | $ | 16,992 | $ | (18,264 | ) | $ | 2,103,828 | ||||||||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 10,000 | $ | 157 | $ | — | $ | 10,157 | |||||||||||||||||
Obligations of state and political obligations | 79,309 | 3,044 | (266 | ) | 82,087 | ||||||||||||||||||||
Mortgage-backed securities | 31,211 | 197 | (1,194 | ) | 30,214 | ||||||||||||||||||||
Total securities held to maturity | $ | 120,520 | $ | 3,398 | $ | (1,460 | ) | $ | 122,458 | ||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
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 | ||||||||||||||||
Securities with carrying values of $1.4 billion and $1.5 billion were pledged to secure public deposits and other borrowings at September 30, 2014 and December 31, 2013, 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 of the Company to retain the investment for a period of time sufficient to allow for any anticipated recovery in estimated fair value above amortized cost. In analyzing an issuer’s financial condition, management considers whether the securities are issued by the federal government or its agencies and whether downgrades by bond rating agencies have occurred, as well as review of issuer financial statements and industry analysts’ reports. | |||||||||||||||||||||||||
Information pertaining to securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position, is as follows: | |||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
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 | $ | — | $ | — | $ | (5,926 | ) | $ | 258,521 | $ | (5,926 | ) | $ | 258,521 | |||||||||||
Obligations of state and political obligations | — | 186 | — | — | — | 186 | |||||||||||||||||||
Mortgage-backed securities | (2,846 | ) | 552,357 | (9,492 | ) | 333,795 | (12,338 | ) | 886,152 | ||||||||||||||||
Total securities available for sale | $ | (2,846 | ) | $ | 552,543 | $ | (15,418 | ) | $ | 592,316 | $ | (18,264 | ) | $ | 1,144,859 | ||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
Obligations of state and political obligations | $ | (1 | ) | $ | 564 | $ | (265 | ) | $ | 10,811 | $ | (266 | ) | $ | 11,375 | ||||||||||
Mortgage-backed securities | — | 72 | (1,194 | ) | 24,303 | (1,194 | ) | 24,375 | |||||||||||||||||
Total securities held to maturity | $ | (1 | ) | $ | 636 | $ | (1,459 | ) | $ | 35,114 | $ | (1,460 | ) | $ | 35,750 | ||||||||||
31-Dec-13 | |||||||||||||||||||||||||
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 | ||||||||||
The Company assessed the nature of the losses in its portfolio as of September 30, 2014 and December, 31, 2013 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 particular municipal bond discussed below, in each instance, management has determined the cost basis of the securities would be fully recoverable. Management also has the intent to hold debt securities until their maturity or anticipated recovery if the security is classified as available for sale. In addition, management does not believe the Company will be required to sell debt securities before the anticipated recovery of the amortized cost basis of the security. | |||||||||||||||||||||||||
At September 30, 2014, 162 debt securities had unrealized losses of 1.64% of the securities’ amortized cost basis and 0.89% of the Company’s total amortized cost basis. 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 securities related to market interest rate changes. Additional information on securities that have been in a continuous loss position for over twelve months at September 30, 2014 and December 31, 2013 is presented in the following table. | |||||||||||||||||||||||||
(Dollars in thousands) | September 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Number of securities | |||||||||||||||||||||||||
Issued by Fannie Mae, Freddie Mac, or Ginnie Mae | 78 | 20 | |||||||||||||||||||||||
Issued by political subdivisions | 6 | 5 | |||||||||||||||||||||||
84 | 25 | ||||||||||||||||||||||||
Amortized Cost Basis | |||||||||||||||||||||||||
Issued by Fannie Mae, Freddie Mac, or Ginnie Mae | $ | 633,230 | $ | 104,520 | |||||||||||||||||||||
Issued by political subdivisions | 11,076 | 7,956 | |||||||||||||||||||||||
$ | 644,306 | $ | 112,476 | ||||||||||||||||||||||
Unrealized Loss | |||||||||||||||||||||||||
Issued by Fannie Mae, Freddie Mac, or Ginnie Mae | $ | 16,611 | $ | 5,519 | |||||||||||||||||||||
Issued by political subdivisions | 265 | 669 | |||||||||||||||||||||||
$ | 16,876 | $ | 6,188 | ||||||||||||||||||||||
The Fannie Mae, Freddie Mac, and Ginnie Mae securities are rated AA+ by S&P and Aaa by Moodys. Six of the securities in a continuous loss position for over twelve months were issued by political subdivisions. The securities issued by political subdivisions have credit ratings by S&P ranging from A+ to AAA and credit ratings from Moody’s ranging from A2 to Aaa. | |||||||||||||||||||||||||
Prior to 2013, 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. The Company recorded total impairment of 50% of the par value of the bond and provided a fair value of the bond that was consistent with current market pricing. During the third quarter of 2014, the Company sold the municipal bond and recorded a gain of $0.6 million in the Company’s unaudited consolidated statements of comprehensive income for the three and nine months ended September 30, 2014. | |||||||||||||||||||||||||
During the nine months ended September 30, 2014 and 2013, there was no activity related to credit losses on the other-than temporarily impaired investment security where a portion of the unrealized loss was recognized in other comprehensive income. | |||||||||||||||||||||||||
As a result of the Company’s analysis, no declines in the estimated fair value of the Company’s investment securities were deemed to be other-than-temporary at September 30, 2014 or December 31, 2013. | |||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities by maturity at September 30, 2014 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 | 1.27 | % | $ | 15,397 | $ | 15,488 | 2.65 | % | $ | 10,000 | $ | 10,157 | |||||||||||||
One through five years | 1.54 | 241,992 | 241,502 | 2.84 | 12,968 | 13,352 | |||||||||||||||||||
After five through ten years | 2.1 | 474,758 | 476,954 | 2.97 | 17,983 | 18,591 | |||||||||||||||||||
Over ten years | 2.18 | 1,372,953 | 1,369,884 | 3.05 | 79,569 | 80,358 | |||||||||||||||||||
Total | 2.08 | % | $ | 2,105,100 | $ | 2,103,828 | 2.98 | % | $ | 120,520 | $ | 122,458 | |||||||||||||
The following is a summary of realized gains and losses from the sale of securities classified as available for sale. Gains or losses on securities sold are recorded on the trade date, using the specific identification method. | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30 | September 30 | ||||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Realized gains | $ | 582 | $ | — | $ | 609 | $ | 2,369 | |||||||||||||||||
Realized losses | — | (3 | ) | — | (110 | ) | |||||||||||||||||||
Net realized gains (losses) | $ | 582 | $ | (3 | ) | $ | 609 | $ | 2,259 | ||||||||||||||||
In addition to the gains above, the Company realized certain immaterial gains on calls of held to maturity securities. | |||||||||||||||||||||||||
Other Equity Securities | |||||||||||||||||||||||||
At September 30, 2014 and December 31, 2013, the Company included the following securities in “Other assets” on the consolidated balance sheets: | |||||||||||||||||||||||||
September 30 | December 31 | ||||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||||||||||||||||
Federal Home Loan Bank (FHLB) stock | $ | 41,011 | $ | 24,369 | |||||||||||||||||||||
Federal Reserve Bank (FRB) stock | 34,348 | 28,098 | |||||||||||||||||||||||
Other investments | 1,306 | 1,306 | |||||||||||||||||||||||
Total | $ | 76,665 | $ | 53,773 |
Loans_Receivable
Loans Receivable | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||
Loans Receivable | ' | ||||||||||||||||||||||||||||||||
NOTE 6 – LOANS RECEIVABLE | |||||||||||||||||||||||||||||||||
Loans receivable consist of the following, segregated into non-covered and covered loans, for the periods indicated: | |||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | Non-covered loans | Covered loans | Total | ||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 4,032,419 | $ | 247,156 | $ | 4,279,575 | |||||||||||||||||||||||||||
Business | 3,193,098 | 34,234 | 3,227,332 | ||||||||||||||||||||||||||||||
7,225,517 | 281,390 | 7,506,907 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 911,099 | 130,976 | 1,042,075 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | 27,888 | — | 27,888 | ||||||||||||||||||||||||||||||
938,987 | 130,976 | 1,069,963 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 1,458,067 | 107,811 | 1,565,878 | ||||||||||||||||||||||||||||||
Indirect automobile | 394,691 | — | 394,691 | ||||||||||||||||||||||||||||||
Other | 537,748 | 4,012 | 541,760 | ||||||||||||||||||||||||||||||
2,390,506 | 111,823 | 2,502,329 | |||||||||||||||||||||||||||||||
Total | $ | 10,555,010 | $ | 524,189 | $ | 11,079,199 | |||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
(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 | |||||||||||||||||||||||||||||||
Total | $ | 8,772,226 | $ | 719,793 | $ | 9,492,019 | |||||||||||||||||||||||||||
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 $19.4 million and $18.6 million and deferred loan expenses were $9.0 million and $7.6 million at September 30, 2014 and December 31, 2013, respectively. In addition to loans issued in the normal course of business, the Company considers overdrafts on customer deposit accounts to be loans and reclassifies these overdrafts as loans in its consolidated balance sheets. At September 30, 2014 and December 31, 2013, overdrafts of $3.7 million and $3.1 million, respectively, have been reclassified to loans receivable. | |||||||||||||||||||||||||||||||||
Loans with carrying values of $2.7 billion and $2.3 billion were pledged to secure public deposits and other borrowings at September 30, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||||||||||||||
Non-covered Loans | |||||||||||||||||||||||||||||||||
The following tables provide an analysis of the aging of non-covered loans as of September 30, 2014 and December 31, 2013. 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. | |||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
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 | $ | 84 | $ | — | $ | 1,317 | $ | 1,401 | $ | 634,593 | $ | 635,994 | $ | — | |||||||||||||||||||
Commercial real estate—other | 1,347 | 640 | 6,789 | 8,776 | 2,882,842 | 2,891,618 | — | ||||||||||||||||||||||||||
Commercial business | 1,475 | 44 | 2,737 | 4,256 | 3,089,617 | 3,093,873 | — | ||||||||||||||||||||||||||
Residential prime | 1,859 | 1,349 | 10,973 | 14,181 | 362,513 | 376,694 | — | ||||||||||||||||||||||||||
Residential subprime | — | 2 | 6,197 | 6,199 | 114,182 | 120,381 | — | ||||||||||||||||||||||||||
Home equity | 1,783 | 201 | 7,310 | 9,294 | 1,220,704 | 1,229,998 | 4 | ||||||||||||||||||||||||||
Indirect automobile | 1,825 | 502 | 1,338 | 3,665 | 390,413 | 394,078 | — | ||||||||||||||||||||||||||
Credit card | 149 | 123 | 987 | 1,259 | 67,472 | 68,731 | — | ||||||||||||||||||||||||||
Other | 720 | 337 | 416 | 1,473 | 367,102 | 368,575 | — | ||||||||||||||||||||||||||
Total | $ | 9,242 | $ | 3,198 | $ | 38,064 | $ | 50,504 | $ | 9,129,438 | $ | 9,179,942 | $ | 4 | |||||||||||||||||||
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 | — | ||||||||||||||||||||||||||
Total | $ | 13,426 | $ | 7,965 | $ | 44,762 | $ | 66,153 | $ | 8,222,168 | $ | 8,288,321 | $ | 1,075 | |||||||||||||||||||
(1) | Past due loans include loans on nonaccrual status as of the period indicated. Nonaccrual loans are presented separately in the “Nonaccrual Loans” section below. | ||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||
Total Non-covered | Recorded | ||||||||||||||||||||||||||||||||
Past Due (1) | Loans, Net of | Investment > 90 days | |||||||||||||||||||||||||||||||
(Dollars in | 30-59 days | 60-89 days | > 90 days | Total | Current | Discount/ Premium | Unearned Income | and Accruing | |||||||||||||||||||||||||
thousands) | |||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 340 | $ | 45 | $ | 2,118 | $ | 2,503 | $ | 36,832 | $ | (2,061 | ) | $ | 37,274 | $ | 1,821 | ||||||||||||||||
Commercial real estate—other | 1,464 | 277 | 22,081 | 23,822 | 486,238 | (42,527 | ) | 467,533 | 20,614 | ||||||||||||||||||||||||
Commercial business | 717 | 25 | 1,905 | 2,647 | 101,722 | (5,144 | ) | 99,225 | 1,892 | ||||||||||||||||||||||||
Residential prime | 76 | 931 | 7,437 | 8,444 | 432,837 | 631 | 441,912 | 369 | |||||||||||||||||||||||||
Home equity | 1,615 | 1,003 | 8,203 | 10,821 | 228,051 | (10,803 | ) | 228,069 | 4,102 | ||||||||||||||||||||||||
Indirect automobile | 7 | 1 | 43 | 51 | 606 | (44 | ) | 613 | 43 | ||||||||||||||||||||||||
Other | 337 | 7 | 2,051 | 2,395 | 109,599 | (11,552 | ) | 100,442 | 389 | ||||||||||||||||||||||||
Total | $ | 4,556 | $ | 2,289 | $ | 43,838 | $ | 50,683 | $ | 1,395,885 | $ | (71,500 | ) | $ | 1,375,068 | $ | 29,230 | ||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||
Total Non-covered | Recorded | ||||||||||||||||||||||||||||||||
Past Due (1) | Loans, Net of | Investment > 90 days | |||||||||||||||||||||||||||||||
(Dollars in | 30-59 days | 60-89 days | > 90 days | Total | Current | Discount/ Premium | Unearned Income | and Accruing | |||||||||||||||||||||||||
thousands) | |||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||
Total | $ | 3,251 | $ | 2,580 | $ | 37,265 | $ | 43,096 | $ | 506,422 | $ | (65,613 | ) | $ | 483,905 | $ | 37,265 | ||||||||||||||||
(1) | Past due information presents acquired loans at the gross loan balance, prior to application of discounts. | ||||||||||||||||||||||||||||||||
Non-accrual Loans | |||||||||||||||||||||||||||||||||
The following table provides the recorded investment of non-covered loans, excluding acquired loans, on non-accrual status at September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||||||
September 30 | December 31 | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 1,317 | $ | 1,803 | |||||||||||||||||||||||||||||
Commercial real estate—other | 6,789 | 7,648 | |||||||||||||||||||||||||||||||
Commercial business | 2,737 | 15,020 | |||||||||||||||||||||||||||||||
Residential prime | 10,973 | 8,611 | |||||||||||||||||||||||||||||||
Residential subprime | 6,197 | 1,626 | |||||||||||||||||||||||||||||||
Home equity | 7,306 | 6,808 | |||||||||||||||||||||||||||||||
Indirect automobile | 1,338 | 1,275 | |||||||||||||||||||||||||||||||
Credit card | 987 | 411 | |||||||||||||||||||||||||||||||
Other | 416 | 485 | |||||||||||||||||||||||||||||||
Total | $ | 38,060 | $ | 43,687 | |||||||||||||||||||||||||||||
Covered Loans | |||||||||||||||||||||||||||||||||
The carrying amount of the acquired covered loans at September 30, 2014 and December 31, 2013 consisted of loans determined to be impaired at the acquisition date, which are accounted for in accordance with ASC Topic 310-30, and loans that were considered to be performing at the acquisition date, accounted for by analogy to ASC Topic 310-30, as detailed in the following tables. | |||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Covered | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Loans | Loans | Loans | ||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 4,678 | $ | 242,478 | $ | 247,156 | |||||||||||||||||||||||||||
Business | 620 | 33,614 | 34,234 | ||||||||||||||||||||||||||||||
5,298 | 276,092 | 281,390 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 24,304 | 106,672 | 130,976 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | — | — | — | ||||||||||||||||||||||||||||||
24,304 | 106,672 | 130,976 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 16,210 | 91,601 | 107,811 | ||||||||||||||||||||||||||||||
Indirect automobile | — | — | — | ||||||||||||||||||||||||||||||
Other | 489 | 3,523 | 4,012 | ||||||||||||||||||||||||||||||
16,699 | 95,124 | 111,823 | |||||||||||||||||||||||||||||||
Total | $ | 46,301 | $ | 477,888 | $ | 524,189 | |||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||
Total | $ | 66,077 | $ | 653,716 | $ | 719,793 | |||||||||||||||||||||||||||
Loans Acquired | |||||||||||||||||||||||||||||||||
The Company acquired loans (both covered and non-covered) through previous acquisitions, which are subject to ASC Topic 310-30. | |||||||||||||||||||||||||||||||||
As discussed in Note 4, during 2014, the Company acquired loans of $86.5 million from Trust One-Memphis, $699.6 million from Teche, and $294.8 million from First Private in the current period. Acquired loans totaling $1.1 billion are accounted for under ASC Topic 310-10, while the carrying amounts of the loans acquired in the current period subject to ASC Topic 310-30 are detailed in the following table as of the purchase date. The allocation of loans acquired from both Teche and First Private between loans subject to ASC Topic 310-30 and those subject to ASC Topic 310-10 is preliminary and subject to change up to one year after the acquisition date as information on these loans becomes available. | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Acquired | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Loans | Loans | Loans | ||||||||||||||||||||||||||||||
Contractually required principal and interest at acquisition | $ | 82,967 | $ | 15,130 | $ | 98,097 | |||||||||||||||||||||||||||
Nonaccretable difference (expected losses and foregone interest) | (4,197 | ) | (361 | ) | (4,558 | ) | |||||||||||||||||||||||||||
Cash flows expected to be collected at acquisition | 78,770 | 14,769 | 93,539 | ||||||||||||||||||||||||||||||
Accretable yield | (8,242 | ) | (1,536 | ) | (9,778 | ) | |||||||||||||||||||||||||||
Basis in acquired loans at acquisition | $ | 70,528 | $ | 13,233 | $ | 83,761 | |||||||||||||||||||||||||||
The following is a summary of changes in the accretable difference of acquired loans during the nine months ended September 30, 2014 and 2013. | |||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Acquired | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Loans | Loans | Loans | ||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 78,349 | $ | 276,543 | $ | 354,892 | |||||||||||||||||||||||||||
Acquisition | 8,242 | 1,536 | 9,778 | ||||||||||||||||||||||||||||||
Transfers from nonaccretable difference to accretable yield | 3,952 | 13,872 | 17,824 | ||||||||||||||||||||||||||||||
Accretion | (12,766 | ) | (66,590 | ) | (79,356 | ) | |||||||||||||||||||||||||||
Changes in expected cash flows not affecting nonaccretable differences (1) | (6,873 | ) | (19,377 | ) | (26,250 | ) | |||||||||||||||||||||||||||
Balance at end of period | $ | 70,904 | $ | 205,984 | $ | 276,888 | |||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Acquired | |||||||||||||||||||||||||||||||
Loans | Loans | Loans | |||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 76,623 | $ | 279,770 | $ | 356,393 | |||||||||||||||||||||||||||
Transfers from nonaccretable difference to accretable yield | 6,148 | 34,480 | 40,628 | ||||||||||||||||||||||||||||||
Accretion | (13,519 | ) | (119,193 | ) | (132,712 | ) | |||||||||||||||||||||||||||
Changes in expected cash flows not affecting nonaccretable differences (1) | 10,561 | 81,173 | 91,734 | ||||||||||||||||||||||||||||||
Balance at end of period | $ | 79,813 | $ | 276,230 | $ | 356,043 | |||||||||||||||||||||||||||
(1) | Includes changes in cash flows expected to be collected due to the impact of changes in actual or expected timing of liquidation events, modifications, changes in interest rates and changes in prepayment assumptions. | ||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||
Information about the Company’s troubled debt restructurings (“TDRs”) at September 30, 2014 and 2013 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 acquired loans. 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 and acquired loans that would otherwise meet the criteria for classification as a TDR are excluded from the tables below. | |||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||
Accruing Loans | Accruing Loans | ||||||||||||||||||||||||||||||||
Past Due | Nonaccrual | Past Due | Nonaccrual | ||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | > 30 days | TDRs | Total TDRs | Current | > 30 days | TDRs | Total TDRs | |||||||||||||||||||||||||
Commercial real estate construction | $ | — | $ | — | $ | — | $ | — | $ | — | — | — | — | ||||||||||||||||||||
Commercial real estate—other | 367 | — | 58 | 425 | 411 | — | 5,601 | 6,012 | |||||||||||||||||||||||||
Commercial business | 726 | — | 2,027 | 2,753 | 1,056 | — | 12,610 | 13,666 | |||||||||||||||||||||||||
Residential prime | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Residential subprime | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Home equity | — | — | 243 | 243 | — | — | 263 | 263 | |||||||||||||||||||||||||
Indirect automobile | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Total | $ | 1,093 | $ | — | $ | 2,328 | $ | 3,421 | $ | 1,467 | $ | — | $ | 18,474 | $ | 19,941 | |||||||||||||||||
At September 30, 2014, there were no TDRs that occurred during the first nine months through modification of the original loan terms. TDRs totaling $11.2 million occurred during the nine-month period ending September 30, 2013 and were subsequently charged off during the same period. The following table provides information on how the TDRs were modified during the nine months ended September 30: | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||||||||||||||||||||||||
Extended maturities | $ | — | $ | — | |||||||||||||||||||||||||||||
Interest rate adjustment | — | — | |||||||||||||||||||||||||||||||
Maturity and interest rate adjustment | — | — | |||||||||||||||||||||||||||||||
Movement to or extension of interest-rate only payments | — | — | |||||||||||||||||||||||||||||||
Forbearance | — | — | |||||||||||||||||||||||||||||||
Other concession(s) (1) | — | 11,210 | |||||||||||||||||||||||||||||||
Total | $ | — | $ | 11,210 | |||||||||||||||||||||||||||||
(1) | Other concessions include concessions or a combination of concessions that do not consist of maturity extensions, interest rate adjustments, forbearance or covenant modifications. | ||||||||||||||||||||||||||||||||
The Company had no commercial business, mortgage or consumer TDRs that were added during the nine month periods for September 30, 2014 and 2013. Information about the Company’s TDRs occurring in these periods is presented in the following table. | |||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||
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 | — | $ | — | $ | — | 5 | $ | 12,507 | $ | 12,329 | |||||||||||||||||||||||
Total | — | $ | — | $ | — | 5 | $ | 12,507 | $ | 12,329 | |||||||||||||||||||||||
(1) | Recorded investment includes any allowance for credit losses recorded on the TDRs at the dates indicated. | ||||||||||||||||||||||||||||||||
Information detailing non-covered TDRs that subsequently defaulted during the previous twelve months is presented in the following table. The Company has defined a default as any loan with a loan payment that is currently past due greater than 30 days, or was past due greater than 30 days at any point during the previous twelve months, or since the date of modification, whichever is shorter. | |||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||||||
(In thousands, except number of loans) | Loans | Investment | Loans | Investment | |||||||||||||||||||||||||||||
Commercial real estate | 31 | $ | 58 | 45 | $ | 6,012 | |||||||||||||||||||||||||||
Commercial business | 11 | 1,767 | 13 | 12,370 | |||||||||||||||||||||||||||||
Residential prime | — | — | — | — | |||||||||||||||||||||||||||||
Home Equity | — | — | 1 | 47 | |||||||||||||||||||||||||||||
Indirect automobile | — | — | — | — | |||||||||||||||||||||||||||||
Credit card | — | — | — | — | |||||||||||||||||||||||||||||
Other | 1 | — | 1 | — | |||||||||||||||||||||||||||||
Total | 43 | $ | 1,825 | 60 | $ | 18,429 |
Allowance_for_Credit_Losses_an
Allowance for Credit Losses and Credit Quality | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses and Credit Quality | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
NOTE 7 – ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY | |||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses Activity | |||||||||||||||||||||||||||||||||||||||||||||||||
A summary of changes in the allowance for credit losses for the covered loan and non-covered loan portfolios for the nine months ended September 30, 2014 and 2013 is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
Excluding | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Acquired Loans | Acquired Loans | Covered Loans | Total | |||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 67,342 | $ | 4,557 | $ | 71,175 | $ | 143,074 | |||||||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses before benefit attributable to FDIC loss share agreements | 9,099 | (1,259 | ) | 5,878 | 13,718 | ||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | (1,153 | ) | (1,153 | ) | |||||||||||||||||||||||||||||||||||||||||||
Net (reversal of) provision for loan losses | 9,099 | (1,259 | ) | 4,725 | 12,565 | ||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | 1,153 | 1,153 | |||||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | (207 | ) | (5,171 | ) | (5,378 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (8,242 | ) | (586 | ) | (12,823 | ) | (21,651 | ) | |||||||||||||||||||||||||||||||||||||||||
Recoveries | 4,338 | 401 | 38 | 4,777 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 72,537 | $ | 2,906 | $ | 59,097 | $ | 134,540 | |||||||||||||||||||||||||||||||||||||||||
Reserve for unfunded lending commitments | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 11,147 | $ | — | $ | — | $ | 11,147 | |||||||||||||||||||||||||||||||||||||||||
Provision for unfunded lending commitments | 952 | — | — | 952 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 12,099 | $ | — | $ | — | $ | 12,099 | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
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 adjustment attributable to FDIC loss share agreements | 2,884 | (2,464 | ) | (58,540 | ) | (58,120 | ) | ||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | 58,565 | 58,565 | |||||||||||||||||||||||||||||||||||||||||||||
Net (reversal of) provision for loan losses | 2,884 | (2,464 | ) | 25 | 445 | ||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | (58,565 | ) | (58,565 | ) | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | (1,013 | ) | (29,302 | ) | (30,315 | ) | ||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to the RULC | (9,828 | ) | — | — | (9,828 | ) | |||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (7,455 | ) | (10 | ) | (1,683 | ) | (9,148 | ) | |||||||||||||||||||||||||||||||||||||||||
Recoveries | 4,353 | — | — | 4,353 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | 64,165 | 5,329 | $ | 79,051 | $ | 148,545 | |||||||||||||||||||||||||||||||||||||||||||
Reserve for unfunded lending commitments | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of period | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Transfer of balance from the allowance for loan losses | 9,828 | — | — | 9,828 | |||||||||||||||||||||||||||||||||||||||||||||
Provision for unfunded lending commitments | 2,131 | — | — | 2,131 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 11,959 | $ | — | $ | — | $ | 11,959 | |||||||||||||||||||||||||||||||||||||||||
A summary of changes in the allowance for credit losses for non-covered loans, by loan portfolio type, for the nine months ended September 30, 2014 and 2013 is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 26,590 | $ | 28,515 | $ | 2,546 | $ | 14,248 | $ | — | $ | 71,899 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 611 | 2,187 | 514 | 4,528 | — | 7,840 | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | (130 | ) | (12 | ) | (65 | ) | — | (207 | ) | |||||||||||||||||||||||||||||||||||||||
Loans charged off | (1,214 | ) | (1,097 | ) | (607 | ) | (5,910 | ) | — | (8,828 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 2,209 | 93 | 134 | 2,303 | — | 4,739 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 28,196 | $ | 29,568 | $ | 2,575 | $ | 15,104 | $ | — | $ | 75,443 | |||||||||||||||||||||||||||||||||||||
Reserve for unfunded commitments | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 3,089 | $ | 4,839 | $ | 72 | $ | 3,147 | $ | — | $ | 11,147 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for unfunded commitments | 726 | 192 | 11 | 23 | — | 952 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 3,815 | $ | 5,031 | $ | 83 | $ | 3,170 | $ | — | $ | 12,099 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | 25 | $ | — | $ | — | $ | — | $ | — | $ | 25 | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 28,171 | 29,568 | 2,575 | 15,104 | — | 75,418 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 4,032,419 | $ | 3,193,098 | $ | 938,987 | $ | 2,390,506 | $ | — | $ | 10,555,010 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | 7,357 | 3,276 | — | 706 | — | 11,339 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 4,025,062 | 3,189,822 | 938,987 | 2,389,800 | — | 10,543,671 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 15,061 | 2,562 | 160 | 1,707 | — | 19,490 | |||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 38,264 | $ | 28,721 | $ | 2,125 | $ | 13,917 | $ | — | $ | 83,027 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | (6,926 | ) | (582 | ) | 1,048 | 6,880 | — | 420 | |||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (279 | ) | (81 | ) | (646 | ) | (7 | ) | — | (1,013 | ) | ||||||||||||||||||||||||||||||||||||||
Transfer of balance to the RULC | (2,939 | ) | (3,497 | ) | (40 | ) | (3,352 | ) | — | (9,828 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (1,966 | ) | (531 | ) | (481 | ) | (4,487 | ) | — | (7,465 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 1,498 | 354 | 698 | 1,803 | — | 4,353 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 27,652 | $ | 24,384 | $ | 2,704 | $ | 14,754 | $ | — | $ | 69,494 | |||||||||||||||||||||||||||||||||||||
Reserve for unfunded commitments | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Transfer of balance from the allowance for loan losses | 2,939 | 3,497 | 40 | 3,352 | 9,828 | ||||||||||||||||||||||||||||||||||||||||||||
Provision for unfunded commitments | 1,207 | 610 | 38 | 276 | 2,131 | ||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 4,146 | $ | 4,107 | $ | 78 | $ | 3,628 | $ | — | $ | 11,959 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | 8 | $ | 801 | $ | 283 | $ | — | $ | — | $ | 1,092 | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 27,644 | 23,583 | 2,421 | 14,754 | — | 68,402 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 3,320,333 | $ | 2,643,822 | $ | 409,940 | $ | 1,861,940 | $ | — | $ | 8,236,035 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | 9,529 | 14,548 | 1,407 | 263 | — | 25,747 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 3,310,804 | 2,629,274 | 408,533 | 1,861,677 | — | 8,210,288 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 16,287 | 45 | 120 | 1,815 | — | 18,267 | |||||||||||||||||||||||||||||||||||||||||||
A summary of changes in the allowance for credit losses for covered loans, by loan portfolio type, for the nine months ended September 30, 2014 and 2013 is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 38,772 | $ | 5,380 | $ | 10,889 | $ | 16,134 | $ | — | $ | 71,175 | |||||||||||||||||||||||||||||||||||||
Provision for loan losses | 2,544 | 376 | 971 | 834 | — | 4,725 | |||||||||||||||||||||||||||||||||||||||||||
(Decrease) Increase in FDIC loss share receivable | 734 | 609 | (2,911 | ) | 2,721 | — | 1,153 | ||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (1,874 | ) | (1,162 | ) | (648 | ) | (1,487 | ) | — | (5,171 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (9,578 | ) | (2,192 | ) | (90 | ) | (963 | ) | — | (12,823 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 38 | — | — | — | — | 38 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 30,636 | $ | 3,011 | $ | 8,211 | $ | 17,239 | $ | — | $ | 59,097 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 30,636 | 3,011 | 8,211 | 17,239 | — | 59,097 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 247,156 | $ | 34,234 | $ | 130,976 | $ | 111,823 | $ | — | $ | 524,189 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 247,156 | 34,234 | 130,976 | 111,823 | — | 524,189 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 4,678 | 620 | 24,304 | 16,699 | — | 46,301 | |||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 100,871 | $ | 11,375 | $ | 22,566 | $ | 33,764 | $ | — | $ | 168,576 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 27 | — | (1 | ) | (1 | ) | — | 25 | |||||||||||||||||||||||||||||||||||||||||
(Decrease) Increase in FDIC loss share receivable | (30,853 | ) | (3,137 | ) | (5,734 | ) | (18,841 | ) | — | (58,565 | ) | ||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (22,375 | ) | (314 | ) | (6,614 | ) | 1 | — | (29,302 | ) | |||||||||||||||||||||||||||||||||||||||
Loans charged off | (1,683 | ) | — | — | — | — | (1,683 | ) | |||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 45,987 | $ | 7,924 | $ | 10,217 | $ | 14,923 | $ | — | $ | 79,051 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 45,987 | 7,924 | 10,217 | 14,923 | — | 79,051 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 459,506 | $ | 40,422 | $ | 153,515 | $ | 153,559 | $ | — | $ | 807,002 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 459,506 | 40,422 | 153,515 | 153,559 | — | 807,002 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 23,751 | — | 28,333 | 26,400 | — | 78,484 | |||||||||||||||||||||||||||||||||||||||||||
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 September 30, 2014 and December 31, 2013, respectively. Credit quality information in the tables below includes loans acquired at the gross loan balance, prior to the application of premiums/discounts, at September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Special | Special | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Mention | Substandard | Doubtful | Total | Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 624,592 | $ | 249 | $ | 11,153 | $ | — | $ | 635,994 | $ | 370,824 | $ | 9,309 | $ | 2,962 | $ | — | $ | 383,095 | |||||||||||||||||||||||||||||
Commercial real estate—other | 2,817,777 | 46,718 | 26,700 | 423 | 2,891,618 | 2,694,161 | 27,227 | 30,308 | 113 | 2,751,809 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 3,047,885 | 23,093 | 20,921 | 1,974 | 3,093,873 | 2,866,794 | 6,164 | 32,167 | 926 | 2,906,051 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 6,490,254 | $ | 70,060 | $ | 58,774 | $ | 2,397 | $ | 6,621,485 | $ | 5,931,779 | $ | 42,700 | $ | 65,437 | $ | 1,039 | $ | 6,040,955 | |||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||||||||
30+ Days | 30+ Days | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | Past Due | Total | Current | Past Due | Total | |||||||||||||||||||||||||||||||||||||||||||
Residential prime | $ | 362,513 | $ | 14,181 | $ | 376,694 | $ | 286,167 | $ | 11,640 | $ | 297,807 | |||||||||||||||||||||||||||||||||||||
Residential subprime | 114,182 | 6,199 | 120,381 | 114,939 | 1,626 | 116,565 | |||||||||||||||||||||||||||||||||||||||||||
Home equity | 1,220,704 | 9,294 | 1,229,998 | 1,091,894 | 9,333 | 1,101,227 | |||||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 390,413 | 3,665 | 394,078 | 370,388 | 2,995 | 373,383 | |||||||||||||||||||||||||||||||||||||||||||
Credit card | 67,472 | 1,259 | 68,731 | 62,873 | 769 | 63,642 | |||||||||||||||||||||||||||||||||||||||||||
Consumer—other | 367,102 | 1,473 | 368,575 | 293,693 | 1,049 | 294,742 | |||||||||||||||||||||||||||||||||||||||||||
Total | $ | 2,522,386 | $ | 36,071 | $ | 2,558,457 | $ | 2,219,954 | $ | 27,412 | $ | 2,247,366 | |||||||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Special | Special | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Mention | Substandard | Doubtful | Discount | Total | Pass | Mention | Substandard | Doubtful | Discount | Total | |||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 30,675 | $ | 3,671 | $ | 4,989 | $ | — | $ | (2,061 | ) | $ | 37,274 | $ | 17,132 | $ | 196 | $ | 5,435 | $ | — | $ | (2,532 | ) | $ | 20,231 | |||||||||||||||||||||||
Commercial real estate—other | 456,790 | 11,065 | 42,027 | 178 | (42,527 | ) | 467,533 | 310,303 | 15,351 | 51,267 | 93 | (52,176 | ) | 324,838 | |||||||||||||||||||||||||||||||||||
Commercial business | 97,383 | 2,203 | 4,571 | 212 | (5,144 | ) | 99,225 | 51,414 | 1,920 | 2,586 | 31 | (2,914 | ) | 53,037 | |||||||||||||||||||||||||||||||||||
Total | $ | 584,848 | $ | 16,939 | $ | 51,587 | $ | 390 | $ | (49,732 | ) | $ | 604,032 | $ | 378,849 | $ | 17,467 | $ | 59,288 | $ | 124 | $ | (57,622 | ) | $ | 398,106 | |||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
30+ Days | Premium | 30+ Days | Premium | ||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | Past Due | (discount) | Total | Current | Past Due | (discount) | Total | |||||||||||||||||||||||||||||||||||||||||
Residential prime | $ | 432,837 | $ | 8,444 | $ | 631 | $ | 441,912 | $ | 18,796 | $ | 226 | $ | (887 | ) | $ | 18,135 | ||||||||||||||||||||||||||||||||
Home equity | 228,051 | 10,821 | (10,803 | ) | 228,069 | 53,995 | 5,071 | (5,623 | ) | 53,443 | |||||||||||||||||||||||||||||||||||||||
Indirect automobile | 606 | 51 | (44 | ) | 613 | 1,725 | 128 | — | 1,853 | ||||||||||||||||||||||||||||||||||||||||
Consumer—other | 109,599 | 2,395 | (11,552 | ) | 100,442 | 12,598 | 1,251 | (1,481 | ) | 12,368 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 771,093 | $ | 21,711 | $ | (21,768 | ) | $ | 771,036 | $ | 87,114 | $ | 6,676 | $ | (7,991 | ) | $ | 85,799 | |||||||||||||||||||||||||||||||
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 indicated, as adjusted for income accretion and changes in cash flow estimates in subsequent periods. | |||||||||||||||||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||||||||
Special | Special | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Mention | Substandard | Doubtful | Total | Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 40,754 | $ | 1,822 | $ | 9,285 | $ | — | $ | 51,861 | $ | 42,886 | $ | 7,401 | $ | 23,891 | $ | 497 | $ | 74,675 | |||||||||||||||||||||||||||||
Commercial real estate—other | 113,309 | 22,277 | 75,353 | — | 210,939 | 148,579 | 49,699 | 144,680 | 3,267 | 346,225 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 26,087 | 887 | 8,814 | 46 | 35,834 | 30,710 | 780 | 14,556 | 984 | 47,030 | |||||||||||||||||||||||||||||||||||||||
$ | 180,150 | $ | 24,986 | $ | 93,452 | $ | 46 | $ | 298,634 | $ | 222,175 | $ | 57,880 | $ | 183,127 | $ | 4,748 | $ | 467,930 | ||||||||||||||||||||||||||||||
Discount | (17,244 | ) | (43,573 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 281,390 | $ | 424,357 | |||||||||||||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
30+ Days | Premium | 30+ Days | Premium | ||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | Past Due | (discount) | Total | Current | Past Due | (discount) | Total | |||||||||||||||||||||||||||||||||||||||||
Residential prime | $ | 143,529 | $ | 23,993 | $ | (36,546 | ) | $ | 130,976 | $ | 158,710 | $ | 30,814 | $ | (35,499 | ) | $ | 154,025 | |||||||||||||||||||||||||||||||
Home equity | 115,813 | 19,403 | (27,405 | ) | 107,811 | 143,236 | 35,811 | (41,925 | ) | 137,122 | |||||||||||||||||||||||||||||||||||||||
Credit card | 588 | 33 | — | 621 | 648 | 31 | — | 679 | |||||||||||||||||||||||||||||||||||||||||
Consumer—other | 498 | 23 | 2,870 | 3,391 | 591 | 144 | 2,875 | 3,610 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 260,428 | $ | 43,452 | $ | (61,081 | ) | $ | 242,799 | $ | 303,185 | $ | 66,800 | $ | (74,549 | ) | $ | 295,436 | |||||||||||||||||||||||||||||||
Legacy Impaired Loans | |||||||||||||||||||||||||||||||||||||||||||||||||
Information on the Company’s investment in legacy impaired loans is presented in the following tables as of and for the periods indicated. | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Unpaid | Unpaid | ||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Principal | Related | ||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Investment | Balance | Allowance | Investment | Balance | Allowance | |||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 6,990 | $ | 6,990 | $ | — | $ | 8,567 | $ | 8,567 | $ | — | |||||||||||||||||||||||||||||||||||||
Commercial business | 3,276 | 3,276 | — | 13,256 | 13,256 | — | |||||||||||||||||||||||||||||||||||||||||||
Home equity | 689 | 689 | — | 258 | 258 | — | |||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 1,450 | 1,483 | (33 | ) | 1,268 | 1,284 | (16 | ) | |||||||||||||||||||||||||||||||||||||||||
Commercial business | 186 | 188 | (2 | ) | 1,927 | 2,770 | (843 | ) | |||||||||||||||||||||||||||||||||||||||||
Residential prime | 10,746 | 10,973 | (227 | ) | 9,791 | 10,019 | (228 | ) | |||||||||||||||||||||||||||||||||||||||||
Residential subprime | 6,169 | 6,197 | (28 | ) | 1,617 | 1,626 | (9 | ) | |||||||||||||||||||||||||||||||||||||||||
Home equity | 7,017 | 7,064 | (47 | ) | 6,506 | 6,550 | (44 | ) | |||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 1,330 | 1,338 | (8 | ) | 1,267 | 1,275 | (8 | ) | |||||||||||||||||||||||||||||||||||||||||
Credit card | 968 | 987 | (19 | ) | 404 | 411 | (7 | ) | |||||||||||||||||||||||||||||||||||||||||
Other | 429 | 433 | (4 | ) | 481 | 485 | (4 | ) | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 39,250 | $ | 39,618 | $ | (368 | ) | $ | 45,342 | $ | 46,501 | (1,159 | ) | ||||||||||||||||||||||||||||||||||||
Total commercial loans | 11,902 | 11,937 | (35 | ) | 25,018 | 25,877 | (859 | ) | |||||||||||||||||||||||||||||||||||||||||
Total mortgage loans | 16,915 | 17,170 | (255 | ) | 11,408 | 11,645 | (237 | ) | |||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 10,433 | 10,511 | (78 | ) | 8,916 | 8,979 | (63 | ) | |||||||||||||||||||||||||||||||||||||||||
For the Three Months Ended September 30 | For the Nine Months Ended September 30 | ||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | Average | Interest | Average | Interest | ||||||||||||||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Investment | Recognized | Investment | Recognized | Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 7,026 | $ | 6 | $ | 10,703 | $ | 6 | $ | 7,114 | $ | 20 | $ | 12,787 | $ | 22 | |||||||||||||||||||||||||||||||||
Commercial business | 3,553 | 11 | 13,218 | 17 | 4,417 | 48 | 8,608 | 59 | |||||||||||||||||||||||||||||||||||||||||
Home equity | 692 | — | 265 | — | 700 | 14 | 287 | — | |||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 1,631 | — | 4,346 | — | 1,533 | 91 | 6,092 | 5 | |||||||||||||||||||||||||||||||||||||||||
Commercial business | 312 | — | 2,739 | — | 584 | 9 | 2,746 | 3 | |||||||||||||||||||||||||||||||||||||||||
Residential prime | 11,077 | — | 9,650 | — | 10,226 | 119 | 9,380 | 7 | |||||||||||||||||||||||||||||||||||||||||
Residential subprime | 6,228 | — | — | — | 6,115 | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Home equity | 7,177 | 5 | 7,244 | — | 7,404 | 40 | 7,458 | 14 | |||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 1,544 | — | 1,349 | — | 1,720 | 27 | 1,610 | 22 | |||||||||||||||||||||||||||||||||||||||||
Credit card | 1,051 | — | 424 | — | 724 | — | 426 | — | |||||||||||||||||||||||||||||||||||||||||
Other | 470 | — | 372 | — | 489 | 11 | 446 | 4 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 40,761 | $ | 22 | $ | 50,310 | $ | 23 | $ | 41,026 | $ | 379 | $ | 49,840 | $ | 136 | |||||||||||||||||||||||||||||||||
Total commercial loans | 12,522 | 17 | 31,006 | 23 | 13,648 | 168 | 30,233 | 89 | |||||||||||||||||||||||||||||||||||||||||
Total mortgage loans | 17,305 | — | 9,650 | — | 16,341 | 119 | 9,380 | 7 | |||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 10,934 | 5 | 9,654 | — | 11,037 | 92 | 10,227 | 40 | |||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 and December 31, 2013, the Company was not committed to lend additional funds to any customer whose loan was classified as impaired or as a troubled debt restructuring. |
Loss_Sharing_Agreements_and_FD
Loss Sharing Agreements and FDIC Loss Share Receivable | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Text Block [Abstract] | ' | ||||||||
Loss Sharing Agreements and FDIC Loss Share Receivable | ' | ||||||||
NOTE 8 – LOSS SHARING AGREEMENTS AND FDIC LOSS SHARE RECEIVABLE | |||||||||
Loss Sharing Agreements | |||||||||
In 2009, the Company acquired substantially all of the assets and liabilities of CSB, and certain assets and assumed certain deposit and other liabilities of Orion and Century. In 2010, the Company acquired certain assets, 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 ended as of October 1, 2014 for all covered assets excluding single family residential assets. The CSB reimbursable loss period for single family residential assets will end during the third quarter of 2019. 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. To the extent that loss share coverage ends prior to triggering events on covered assets that would enable the Company to collect these amounts from the FDIC, future impairments may be required. | |||||||||
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 met. For each of the three loss share agreements that contain clawback provisions, cumulative losses have exceeded the cumulative loss floors that would trigger a clawback payment. Previously, the sum of the historical and remaining projected losses and recoveries under one agreement was less than the clawback threshold stated in that agreement. The Company had $0.8 million recorded at December 31, 2013, to reserve for the amount of clawback consideration due to the FDIC based on projected net losses. As of September 30, 2014, projected net losses indicate that a clawback payment is no longer probable. Accordingly, the reserve balance was reversed in the third quarter of 2014 through a reduction of expense in the Company’s statement of comprehensive income for the three and nine months ended September 30, 2014. 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 receivables | |||||||||
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. | |||||||||
The following is a summary of FDIC loss share receivables year-to-date activity: | |||||||||
Nine Months Ended | |||||||||
September 30 | |||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||
Balance at beginning of period | $ | 162,312 | $ | 423,069 | |||||
Change due to (reversal of) loan loss provision recorded on FDIC covered loans | 1,153 | (58,565 | ) | ||||||
Amortization | (61,393 | ) | (68,707 | ) | |||||
Submission of reimbursable losses to (recoveries payable to) the FDIC | 4,901 | (44,910 | ) | ||||||
Impairment | (5,097 | ) | (31,813 | ) | |||||
Changes due to a change in cash flow assumptions on OREO and other changes | (7,164 | ) | (14,189 | ) | |||||
Balance at end of period | $ | 94,712 | $ | 204,885 | |||||
FDIC loss share receivables collectability assessment | |||||||||
The Company assesses the FDIC loss share receivables for collectability on a quarterly basis. Based on the collectability analysis completed for the nine months ended September 30, 2014, the Company concluded that the $94.7 million FDIC loss share receivable is fully collectible as of September 30, 2014. See below for discussion of the impairment charges recognized in 2014 and 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 September 30, 2014, June 30, 2014 and 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, management concluded and the Board of Directors agreed 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 $31.8 million through a charge to net income. | |||||||||
Management deemed an impairment charge necessary for the nine-month period ended September 30, 2014 for $5.1 million. |
Transfers_and_Servicing_of_Fin
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Transfers and Servicing [Abstract] | ' | ||||||||||||||||||||||||
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) | ' | ||||||||||||||||||||||||
NOTE 9 –TRANSFERS AND SERVICING OF FINANCIAL ASSETS (INCLUDING MORTGAGE BANKING ACTIVITY) | |||||||||||||||||||||||||
Mortgage Banking Activity | |||||||||||||||||||||||||
IBERIABANK through its subsidiary, IMC, originates mortgage loans for sale into the secondary market. The loans originated primarily consist of residential first mortgages that conform to standards established by the 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 nine months ended September 30: | |||||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||||||||||||||||
Balance at beginning of period | $ | 128,442 | $ | 267,475 | |||||||||||||||||||||
Originations and purchases | 1,218,684 | 1,712,557 | |||||||||||||||||||||||
Sales, net of gains | (1,193,282 | ) | (1,871,747 | ) | |||||||||||||||||||||
Other | (5,314 | ) | — | ||||||||||||||||||||||
Balance at end of period | $ | 148,530 | $ | 108,285 | |||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||||||||||||||||
Fair value changes of derivatives and mortgage loans held for sale, net | $ | (1,081 | ) | $ | (270 | ) | |||||||||||||||||||
Gains on sales | 41,412 | 51,709 | |||||||||||||||||||||||
Servicing and other income, net | 572 | 402 | |||||||||||||||||||||||
Total mortgage income | $ | 40,903 | $ | 51,841 | |||||||||||||||||||||
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: | |||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | Gross Carrying | Accumulated | Net Carrying | ||||||||||||||||||||
(Dollars in thousands) | Amount | Amortization | Amount | Amount | Amortization | Amount | |||||||||||||||||||
Mortgage servicing rights | $ | 2,787 | $ | (1,020 | ) | $ | 1,767 | $ | 2,146 | $ | (638 | ) | $ | 1,508 |
Goodwill_and_Other_Acquired_In
Goodwill and Other Acquired Intangible Assets | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Goodwill and Other Acquired Intangible Assets | ' | ||||||||||||||||||||||||
NOTE 10 – GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS | |||||||||||||||||||||||||
Goodwill | |||||||||||||||||||||||||
Changes to the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2014 and the year ended December 31, 2013 are provided in the following table. | |||||||||||||||||||||||||
(Dollars in thousands) | IBERIABANK | IMC | LTC | Total | |||||||||||||||||||||
Balance, December 31, 2012 | $ | 373,905 | $ | 23,178 | $ | 4,789 | $ | 401,872 | |||||||||||||||||
Goodwill acquired during the year | — | — | — | — | |||||||||||||||||||||
Balance, December 31, 2013 | 373,905 | $ | 23,178 | $ | 4,789 | 401,872 | |||||||||||||||||||
Goodwill acquired during the period | 123,995 | — | 375 | 124,370 | |||||||||||||||||||||
Balance, September 30, 2014 | $ | 497,900 | $ | 23,178 | $ | 5,164 | $ | 526,242 | |||||||||||||||||
The goodwill acquired during the nine months ended September 30, 2014 was a result of the Trust One-Memphis, Teche, First Private, and The Title Company LLC acquisitions. See Note 4 for further information. Allocation of the goodwill acquired during the nine months ended September 30, 2014 to reportable segments is preliminary and subject to change. | |||||||||||||||||||||||||
The Company performed the required annual goodwill impairment test as of October 1, 2013. The Company’s annual impairment test did not indicate impairment in any of the Company’s reporting units as of the testing date. Subsequent to the testing date, management has not become aware of any events or changes in circumstances that would indicate that goodwill might be impaired. The Company is currently in the process of performing its annual impairment tests as of October 1, 2014. | |||||||||||||||||||||||||
Title Plant | |||||||||||||||||||||||||
The Company held title plant assets totaling $6.7 million at both September 30, 2014 and December 31, 2013. No events or changes in circumstances occurred during 2014 or 2013 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 included in Other assets on the Company’s consolidated balance sheet as of the periods indicated: | |||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
Carrying | Carrying | Carrying | Carrying | ||||||||||||||||||||||
(Dollars in thousands) | Amount | Amortization | Amount | Amount | Amortization | Amount | |||||||||||||||||||
Core deposit intangibles | $ | 50,564 | $ | (34,564 | ) | $ | 16,000 | $ | 45,406 | $ | (30,784 | ) | $ | 14,622 | |||||||||||
Customer relationship intangible asset | 1,348 | (777 | ) | 571 | 1,348 | (631 | ) | 717 | |||||||||||||||||
Non-compete agreement | 163 | (53 | ) | 110 | — | — | — | ||||||||||||||||||
Other intangible assets | 205 | (29 | ) | 176 | — | — | — | ||||||||||||||||||
Total | $ | 52,280 | $ | (35,423 | ) | $ | 16,857 | $ | 46,754 | $ | (31,415 | ) | $ | 15,339 |
Other_Real_Estate_Owned
Other Real Estate Owned | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Banking and Thrift [Abstract] | ' | ||||||||||||||||||||||||
Other Real Estate Owned | ' | ||||||||||||||||||||||||
NOTE 11 – OTHER REAL ESTATE OWNED | |||||||||||||||||||||||||
Other real estate owned is included in Other assets on the Company’s consolidated balance sheet. 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. | |||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
(Dollars in thousands) | Non-covered | Covered(1) | Total | Non-covered | Covered | Total | |||||||||||||||||||
Real estate owned acquired by foreclosure | $ | 18,627 | $ | 30,991 | $ | 49,618 | $ | 28,072 | $ | 60,474 | $ | 88,546 | |||||||||||||
Real estate acquired for development or resale | 12,734 | — | 12,734 | 9,206 | — | 9,206 | |||||||||||||||||||
Other foreclosed property | 63 | 971 | 1,034 | 93 | 1,328 | 1,421 | |||||||||||||||||||
Total | $ | 31,424 | $ | 31,962 | $ | 63,386 | $ | 37,371 | $ | 61,802 | $ | 99,173 | |||||||||||||
(1) | Included in covered OREO at September 30, 2014 is $20.6 million that will lose loss share coverage within the next 12 months. |
Derivative_Instruments_and_Oth
Derivative Instruments and Other Hedging Activities | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Derivative Instruments and Other Hedging Activities | ' | ||||||||||||||||||||||||||||
NOTE 12 – DERIVATIVE INSTRUMENTS AND OTHER HEDGING ACTIVITIES | |||||||||||||||||||||||||||||
Information pertaining to outstanding derivative instruments is as follows: | |||||||||||||||||||||||||||||
(Dollars in thousands) | Balance Sheet | Asset Derivatives Fair Value | Balance Sheet | Liability Derivatives Fair Value | |||||||||||||||||||||||||
Location | September 30, 2014 | December 31, 2013 | Location | September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC Topic 815: | |||||||||||||||||||||||||||||
Interest rate contracts | Other assets | $ | 11,839 | $ | 10,621 | Other liabilities | $ | 11,839 | $ | 10,620 | |||||||||||||||||||
Forward sales contracts | Other assets | 104 | 1,468 | Other liabilities | 2,215 | 287 | |||||||||||||||||||||||
Written and purchased options | Other assets | 20,347 | 17,987 | Other liabilities | 15,786 | 15,828 | |||||||||||||||||||||||
Total derivatives not designated as hedging instruments under ASC Topic 815 | 32,290 | 30,076 | 29,840 | 26,735 | |||||||||||||||||||||||||
Total | $ | 32,290 | $ | 30,076 | $ | 29,840 | $ | 26,735 | |||||||||||||||||||||
(Dollars in thousands) | Asset Derivatives Notional Amount | Liability Derivatives Notional Amount | |||||||||||||||||||||||||||
30-Sep-14 | 31-Dec-13 | 30-Sep-14 | 31-Dec-13 | ||||||||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC Topic 815: | |||||||||||||||||||||||||||||
Interest rate contracts | $ | 421,523 | $ | 380,303 | $ | 421,523 | $ | 380,303 | |||||||||||||||||||||
Forward sales contracts | 88,190 | 192,876 | 351,861 | 45,091 | |||||||||||||||||||||||||
Written and purchased options | 363,239 | 295,425 | 197,044 | 199,061 | |||||||||||||||||||||||||
Total derivatives not designated as hedging instruments under ASC Topic 815 | 872,952 | 868,604 | 970,428 | 624,455 | |||||||||||||||||||||||||
Total | $ | 872,952 | $ | 868,604 | $ | 970,428 | $ | 624,455 | |||||||||||||||||||||
The Company is party to collateral agreements with certain derivative counterparties. Such agreements require that the Company maintain collateral based on the fair values of individual derivative transactions. In the event of default by the Company, the counterparty would be entitled to the collateral. | |||||||||||||||||||||||||||||
At September 30, 2014 and December 31, 2013, the Company was required to post $8.4 and $5.0 million, respectively, in cash as collateral for its derivative transactions, which are included in interest-bearing deposits in banks on the Company’s consolidated balance sheets. The Company does not anticipate additional assets will be required to be posted as collateral, nor does it believe additional assets would be required to settle its derivative instruments immediately if contingent features were triggered at September 30, 2014. 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 master agreement and (2) in the event of default, provide the non-defaulting counterparty the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to promptly liquidate or set-off collateral posted by the defaulting counterparty. As permitted by U.S. GAAP, the Company does not offset fair value amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral against recognized fair value amounts of derivatives executed with the same counterparty under a master netting agreement. The following table reconciles the gross amounts presented in the consolidated balance sheets to the net amounts that would result in the event of offset. | |||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||
(Dollars in thousands) | Gross Amounts | Gross Amounts Not Offset | |||||||||||||||||||||||||||
Presented in the | in the Balance Sheet | ||||||||||||||||||||||||||||
Balance Sheet | Derivatives | Collateral (1) | Net | ||||||||||||||||||||||||||
Derivatives subject to master netting arrangements | |||||||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 11,839 | — | — | 11,839 | |||||||||||||||||||||||||
Written and purchased options | 15,423 | — | — | 15,423 | |||||||||||||||||||||||||
Total derivative assets subject to master netting arrangements | $ | 27,262 | $ | — | $ | — | $ | 27,262 | |||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 11,839 | — | (3,892 | ) | 7,947 | ||||||||||||||||||||||||
Total derivative liabilities subject to master netting arrangements | $ | 11,839 | $ | — | $ | (3,892 | ) | $ | 7,947 | ||||||||||||||||||||
-1 | Consists of cash collateral recorded at cost, which approximates fair value, and investment securities. | ||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
(Dollars in thousands) | Gross Amounts | Gross Amounts Not Offset | |||||||||||||||||||||||||||
Presented in the | in the Balance Sheet | ||||||||||||||||||||||||||||
Balance Sheet | Derivatives | Collateral (1) | Net | ||||||||||||||||||||||||||
Derivatives subject to master netting arrangements | |||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||
During the nine months ended September 30, 2014 and 2013, the Company has not reclassified into earnings any gain or loss as a result of the discontinuance of cash flow hedges because it was probable the original forecasted transaction would not occur by the end of the originally specified term. | |||||||||||||||||||||||||||||
At September 30, 2014, the fair value of derivatives that will mature within the next twelve months is $0.1 million. 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 September 30, 2014 and 2013, and for the three and nine months then ended, information pertaining to the effect of the hedging instruments on the consolidated financial statements is as follows: | |||||||||||||||||||||||||||||
(Dollars in thousands) | Amount of Gain (Loss) | Location of Gain | Amount of | Location of | Amount of Gain (Loss) | ||||||||||||||||||||||||
Recognized | (Loss) | Gain (Loss) | Gain (Loss) | Recognized in Income | |||||||||||||||||||||||||
in OCI net of taxes | Reclassified | Reclassified | Recognized | on Derivative (Ineffective | |||||||||||||||||||||||||
(Effective Portion) | from | from | in Income on | Portion and Amount | |||||||||||||||||||||||||
Accumulated | Accumulated | Derivative | Excluded from | ||||||||||||||||||||||||||
OCI into Income | OCI into | (Ineffective | Effectiveness Testing) | ||||||||||||||||||||||||||
(Effective | Income | Portion and | |||||||||||||||||||||||||||
Portion) | (Effective | Amount | |||||||||||||||||||||||||||
Portion) | Excluded from | ||||||||||||||||||||||||||||
Effectiveness | |||||||||||||||||||||||||||||
Testing | |||||||||||||||||||||||||||||
As of September 30 | For the Three Months Ended September 30 | ||||||||||||||||||||||||||||
Derivatives in ASC Topic 815 Cash | |||||||||||||||||||||||||||||
Flow Hedging Relationships | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||
Interest rate contracts | $ | — | $ | — | Other income | $ | — | $ | — | Other income | $ | — | $ | — | |||||||||||||||
(expense) | (expense) | ||||||||||||||||||||||||||||
Total | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Location of Gain | Amount of Gain | ||||||||||||||||||||||||||||
(Loss) | |||||||||||||||||||||||||||||
Recognized in | (Loss) | ||||||||||||||||||||||||||||
Income on | Recognized in | ||||||||||||||||||||||||||||
Location of Gain | Amount of Gain | Derivative (Ineffective | Income on | ||||||||||||||||||||||||||
Amount of Gain (Loss) | (Loss) Reclassified | (Loss) Reclassified | Portion and Amount | Derivative (Ineffective | |||||||||||||||||||||||||
Recognized in OCI net of | from Accumulated | from Accumulated OCI | Excluded from | Portion and Amount | |||||||||||||||||||||||||
taxes (Effective | OCI into Income | into Income | Effectiveness | Excluded from | |||||||||||||||||||||||||
Portion) | (Effective Portion) | (Effective Portion) | Testing | Effectiveness Testing) | |||||||||||||||||||||||||
As of September 30 | For the Nine Months Ended September 30 | ||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
$ — | $ | — | Other income | $ | — | $ | (392 | ) | Other income | $ | (1 | ) | $ | — | |||||||||||||||
(expense | ) | (expense | ) | ||||||||||||||||||||||||||
$ — | $ | — | $ | — | $ | (392 | ) | $ | (1 | ) | $ | — | |||||||||||||||||
(Dollars in thousands) | Amount of Gain (Loss) Recognized in Income on Derivatives | ||||||||||||||||||||||||||||
Derivatives Not Designated as | Location of Gain (Loss) | ||||||||||||||||||||||||||||
Hedging Instruments under ASC | Recognized in Income on | For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||||
Topic 815 | Derivatives | September 30 | September 30 | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Interest rate contracts | Other income (expense) | $ | 406 | $ | 2,061 | 1,971 | 2,542 | ||||||||||||||||||||||
Forward sales contracts | Mortgage Income | (3,648 | ) | 3,290 | (7,512 | ) | 897 | ||||||||||||||||||||||
Written and purchased options | Mortgage Income | 773 | (7,896 | ) | 2,401 | (3,820 | ) | ||||||||||||||||||||||
Total | $ | (2,469 | ) | $ | (2,545 | ) | $ | (3,140 | ) | $ | (381 | ) |
Shareholders_Equity_and_Other_
Shareholders' Equity and Other Comprehensive Income (Loss) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Shareholders' Equity and Other Comprehensive Income (Loss) | ' | ||||||||||||
NOTE 13 – SHAREHOLDERS’ EQUITY AND OTHER COMPREHENSIVE INCOME (LOSS) | |||||||||||||
Other Comprehensive Income | |||||||||||||
The following is a summary of the tax effects of each component of other comprehensive income for the periods indicated: | |||||||||||||
Three Months Ended | |||||||||||||
30-Sep-14 | |||||||||||||
Before | Tax Expense | Net-of-Tax | |||||||||||
(Dollars in thousands) | Tax | (Benefit) | Amount | ||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding losses arising during the period | $ | (7,032 | ) | $ | 2,461 | $ | (4,571 | ) | |||||
Less: reclassification adjustment for gains included in net income | (582 | ) | 204 | (378 | ) | ||||||||
Net unrealized losses | (7,614 | ) | 2,665 | (4,949 | ) | ||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | — | $ | — | $ | — | |||||||
Less: reclassification adjustment for losses (gains) included in net income | — | — | — | ||||||||||
Fair value of derivative instruments designated as cash flow hedges | — | — | — | ||||||||||
Total other comprehensive loss | $ | (7,614 | ) | $ | 2,665 | $ | (4,949 | ) | |||||
Three Months Ended | |||||||||||||
30-Sep-13 | |||||||||||||
Before | Tax Expense | Net-of-Tax | |||||||||||
(Dollars in thousands) | Tax | (Benefit) | Amount | ||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding gains arising during the period | $ | 5,528 | $ | (1,935 | ) | $ | 3,593 | ||||||
Less: reclassification adjustment for losses included in net income | 3 | (1 | ) | 2 | |||||||||
Net unrealized losses | 5,531 | (1,936 | ) | 3,595 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | — | $ | — | $ | — | |||||||
Less: reclassification adjustment for gains included in net income | — | — | — | ||||||||||
Fair value of derivative instruments designated as cash flow hedges | — | — | — | ||||||||||
Total other comprehensive income | $ | 5,531 | $ | (1,936 | ) | $ | 3,595 | ||||||
Nine Months Ended | |||||||||||||
30-Sep-14 | |||||||||||||
Before | Tax Expense | Net-of-Tax | |||||||||||
(Dollars in thousands) | Tax | (Benefit) | Amount | ||||||||||
Unrealized loss on securities: | |||||||||||||
Unrealized holding gains arising during the period | $ | 25,586 | $ | (8,955 | ) | $ | 16,631 | ||||||
Less: reclassification adjustment for gains included in net income | (609 | ) | 213 | (396 | ) | ||||||||
Net unrealized gains | 24,977 | (8,742 | ) | 16,235 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | — | $ | — | $ | — | |||||||
Less: reclassification adjustment for losses (gains) included in net income | — | — | — | ||||||||||
Fair value of derivative instruments designated as cash flow hedges | — | — | — | ||||||||||
Total other comprehensive income | $ | 24,977 | $ | (8,742 | ) | $ | 16,235 | ||||||
Nine Months Ended | |||||||||||||
30-Sep-13 | |||||||||||||
Before | Tax Expense | Net-of-Tax | |||||||||||
(Dollars in thousands) | Tax | (Benefit) | Amount | ||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding losses arising during the period | $ | (38,769 | ) | $ | 13,569 | $ | (25,200 | ) | |||||
Less: reclassification adjustment for gains included in net income | (2,259 | ) | 791 | (1,468 | ) | ||||||||
Net unrealized losses | (41,028 | ) | 14,360 | (26,668 | ) | ||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | 952 | $ | (333 | ) | $ | 619 | ||||||
Less: reclassification adjustment for losses included in net income | 392 | (137 | ) | 255 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | 1,344 | (470 | ) | 874 | |||||||||
Total other comprehensive loss | $ | (39,684 | ) | $ | 13,890 | $ | (25,794 | ) |
Capital_Requirements_and_Other
Capital Requirements and Other Regulatory Matters | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Banking and Thrift [Abstract] | ' | ||||||||||||||||||||||||
Capital Requirements and Other Regulatory Matters | ' | ||||||||||||||||||||||||
NOTE 14 – 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, as applicable, 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. | |||||||||||||||||||||||||
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 September 30, 2014 and December 31, 2013, that the Company and IBERIABANK met all capital adequacy requirements to which they are subject. | |||||||||||||||||||||||||
As of September 30, 2014, the most recent notification from the Federal Deposit Insurance Corporation categorized IBERIABANK as well capitalized under the regulatory framework for prompt corrective action (the prompt corrective action requirements are not applicable to the Company). 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 September 30, 2014 and December 31, 2013 are presented in the following table. | |||||||||||||||||||||||||
(Dollars in thousands) | September 30, 2014 | ||||||||||||||||||||||||
Minimum | Well Capitalized | Actual | |||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
Tier 1 Leverage | |||||||||||||||||||||||||
Consolidated | $ | 596,945 | 4 | % | $ | N/A | N/A | % | $ | 1,376,283 | 9.22 | % | |||||||||||||
IBERIABANK | 594,578 | 4 | 743,223 | 5 | 1,225,980 | 8.25 | |||||||||||||||||||
Tier 1 risk-based capital | |||||||||||||||||||||||||
Consolidated | 490,391 | 4 | % | $ | N/A | N/A | % | $ | 1,376,283 | 11.23 | % | ||||||||||||||
IBERIABANK | 489,049 | 4 | 733,574 | 6 | 1,225,980 | 10.03 | |||||||||||||||||||
Total risk-based capital | |||||||||||||||||||||||||
Consolidated | 980,781 | 8 | % | $ | N/A | N/A | % | $ | 1,522,932 | 12.42 | % | ||||||||||||||
IBERIABANK | 978,099 | 8 | 1,222,624 | 10 | 1,372,629 | 11.23 | |||||||||||||||||||
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 |
ShareBased_Compensation
Share-Based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Share-Based Compensation | ' | ||||||||||||||||
NOTE 15 – SHARE-BASED COMPENSATION | |||||||||||||||||
The Company has various types of share-based compensation plans. These plans are administered by the Compensation Committee of the Board of Directors, which selects persons eligible to receive awards and determines the number of shares and/or options subject to each award, the terms, conditions and other provisions of the awards. During the nine months ended September 30, 2014 and 2013, the Company did not have any equity awards that were settled in cash. | |||||||||||||||||
Stock option awards | |||||||||||||||||
The Company issues stock options under various plans to directors, officers and other key employees. The option exercise price cannot be less than the fair value of the underlying common stock as of the date of the option grant and the maximum option term cannot exceed ten years. The stock options granted were issued with vesting periods ranging from one-and-a half to seven years. At September 30, 2014, future option or restricted stock awards of 1,040,092 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 three-month and nine-month periods ended September 30: | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands, except per share data) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Compensation expense related to stock options | $ | 508 | $ | 526 | $ | 1,545 | $ | 1,592 | |||||||||
Income tax benefit related to stock options | 178 | 184 | 541 | 557 | |||||||||||||
Impact on basic earnings per share | 0.01 | 0.01 | 0.03 | 0.03 | |||||||||||||
Impact on diluted earnings per share | 0.01 | 0.01 | 0.03 | 0.03 | |||||||||||||
The Company reported $1.2 million and $0.5 million of excess tax benefits as financing cash inflows during the nine months ended September 30, 2014 and 2013, respectively, related to the exercise and vesting of stock options. Net cash proceeds from the exercise of stock options were $11.1 million and $5.4 million for the nine months ended September 30, 2014 and 2013, respectively. | |||||||||||||||||
The Company uses the Black-Scholes option pricing model to estimate the fair value of share-based awards. The following weighted-average assumptions were used for option awards outstanding during the nine-month periods ended September 30: | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Expected dividends | 2.1 | % | 2.6 | % | |||||||||||||
Expected volatility | 35.8 | % | 34.8 | % | |||||||||||||
Risk-free interest rate | 2.3 | % | 1.7 | % | |||||||||||||
Expected term (in years) | 7.5 | 8.6 | |||||||||||||||
Weighted-average grant-date fair value | $ | 21.25 | $ | 15.37 | |||||||||||||
The assumptions above are based on multiple factors, including historical stock option exercise patterns and post-vesting employment termination behaviors, expected future exercise patterns and the expected volatility of the Company’s stock price. | |||||||||||||||||
At September 30, 2014, there was $3.7 million of unrecognized compensation cost related to stock options that is expected to be recognized over a weighted-average period of 5.2 years. | |||||||||||||||||
The following table represents the activity related to stock options during the periods indicated. | |||||||||||||||||
Weighted Average | Weighted Average | ||||||||||||||||
Number of shares | Exercise Price | Remaining Contract Life | |||||||||||||||
Outstanding options, December 31, 2012 | 1,236,075 | $ | 51.48 | ||||||||||||||
Granted | 75,722 | 52.36 | |||||||||||||||
Exercised | (142,841 | ) | 38.09 | ||||||||||||||
Forfeited or expired | (36,608 | ) | 56.01 | ||||||||||||||
Outstanding options, September 30, 2013 | 1,132,348 | $ | 53.09 | 4.7 Years | |||||||||||||
Exercisable options, September 30, 2013 | 749,545 | 52.94 | 3.2 Years | ||||||||||||||
Outstanding options, December 31, 2013 | 1,072,829 | $ | 53.47 | ||||||||||||||
Granted | 77,098 | 65.3 | |||||||||||||||
Exercised | (234,363 | ) | 48.36 | ||||||||||||||
Forfeited or expired | (13,446 | ) | 60.82 | ||||||||||||||
Outstanding options, September 30, 2014 | 902,118 | $ | 55.7 | 5.2 Years | |||||||||||||
Exercisable options, September 30, 2014 | 581,423 | 55.65 | 3.8 Years | ||||||||||||||
At September 30, 2014, the aggregate intrinsic value of shares underlying outstanding stock options and underlying exercisable stock options was $6.8 million and $4.4 million, respectively. Total intrinsic value of options exercised was $4.1 million and $1.9 million for the nine months ended September 30, 2014 and 2013, respectively. | |||||||||||||||||
Restricted stock awards | |||||||||||||||||
The Company issues restricted stock under various plans for certain officers and directors. A supplemental stock benefit plan adopted in 1999 and the 2001, 2005, 2008, and 2010 Incentive Plans allow grants of restricted stock. The plans allow for the issuance of restricted stock awards that may not be sold or otherwise transferred until certain restrictions have lapsed. The holders of the restricted stock receive dividends and have the right to vote the shares. The fair value of the restricted stock shares awarded under these plans is recorded as unearned share-based compensation, a contra-equity account. The unearned compensation related to these awards is amortized to compensation expense over the vesting period (generally three to seven years). The total share-based compensation expense for these awards is determined based on the market price of the Company’s common stock at the date of grant applied to the total number of shares granted and is amortized over the vesting period. As of September 30, 2014 and 2013, unearned share-based compensation associated with these awards totaled $22.2 million and $23.3 million, respectively. | |||||||||||||||||
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 Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Compensation expense related to restricted stock | $ | 2,497 | $ | 2,212 | $ | 7,382 | $ | 6,407 | |||||||||
The following table represents unvested restricted stock award activity for the nine months ended September 30: | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Balance at beginning of period | 523,756 | 538,202 | |||||||||||||||
Granted | 146,547 | 166,223 | |||||||||||||||
Forfeited | (18,171 | ) | (27,483 | ) | |||||||||||||
Earned and issued | (152,112 | ) | (136,629 | ) | |||||||||||||
Balance at end of period | 500,020 | 540,313 | |||||||||||||||
Phantom stock awards | |||||||||||||||||
As part of the IBKC Phantom Award 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 Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Compensation expense related to phantom stock | $ | 619 | $ | 792 | $ | 3,692 | $ | 2,602 | |||||||||
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, 2012 | 318,729 | 16,035 | 334,764 | $ | 16,444,000 | ||||||||||||
Granted | 166,664 | 8,793 | 175,457 | 9,108,000 | |||||||||||||
Forfeited share equivalents | (16,381 | ) | (681 | ) | (17,062 | ) | (886,000 | ) | |||||||||
Vested share equivalents | (45,065 | ) | (3,327 | ) | (48,392 | ) | (2,453,000 | ) | |||||||||
Balance, September 30, 2013 | 423,947 | 20,820 | 444,767 | $ | 23,088,000 | ||||||||||||
Balance, December 31, 2013 | 417,238 | 22,351 | 439,589 | $ | 27,628,000 | ||||||||||||
Granted | 115,620 | 7,147 | 122,767 | 7,674,000 | |||||||||||||
Forfeited share equivalents | (19,498 | ) | (1,751 | ) | (21,249 | ) | (1,328,000 | ) | |||||||||
Vested share equivalents | (68,480 | ) | (6,615 | ) | (75,095 | ) | (5,002,000 | ) | |||||||||
Balance, September 30, 2014 | 444,880 | 21,132 | 466,012 | $ | 29,130,000 | ||||||||||||
(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 $62.51 and $51.91 on September 30, 2014 and 2013, respectively. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and Contingencies | ' | ||||||||
NOTE 16 – COMMITMENTS AND CONTINGENCIES | |||||||||
Off-balance sheet commitments | |||||||||
The Company is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The credit policies used for these commitments are consistent with those used for on-balance sheet instruments. The Company’s exposure to credit loss in the event of nonperformance by other parties represents the contractual amount of the financial instruments. At September 30, 2014, and December 31, 2013, the fair value of guarantees under commercial and standby letters of credit was $1.3 million and $1.1 million, respectively. 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 September 30, 2014 and December 31, 2013, the Company had the following financial instruments outstanding, whose contract amounts represent credit risk: | |||||||||
(Dollars in thousands) | September 30 | December 31 | |||||||
2014 | 2013 | ||||||||
Commitments to grant loans | $ | 242,137 | $ | 221,627 | |||||
Unfunded commitments under lines of credit | 3,834,107 | 3,326,448 | |||||||
Commercial and standby letters of credit | 131,347 | 105,026 | |||||||
Reserve for unfunded lending commitments | 12,099 | 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 the amount of losses associated with legal proceedings that it is reasonably possible to incur above amounts already accrued is immaterial. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||||||
NOTE 17 – 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 originated residential mortgage loans held for sale, 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: | |||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
(Dollars in thousands) | Aggregate | Aggregate | Aggregate | Aggregate | Aggregate | Aggregate | |||||||||||||||||||
Fair Value | Unpaid | Fair Value | Fair Value | Unpaid | Fair Value | ||||||||||||||||||||
Principal | Less Unpaid | Principal | Less Unpaid | ||||||||||||||||||||||
Principal | Principal | ||||||||||||||||||||||||
Mortgage loans held for sale, at fair value | $ | 148,530 | $ | 142,381 | $ | 6,149 | $ | 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 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 three-month period ended September 30, 2014 totaled $1.6 million, while net gains resulting from the change in fair value of these loans were $4.0 million for the nine-month period ended September 30, 2014. There were no net gains or losses recorded in mortgage income for the corresponding periods ended September 30, 2013 resulting from the change in fair value of loans accounted for under the fair value option. 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) | September 30, 2014 | ||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Available for sale securities | $ | 46,261 | $ | 2,057,567 | $ | — | $ | 2,103,828 | |||||||||||||||||
Mortgage loans held for sale | — | 148,530 | — | 148,530 | |||||||||||||||||||||
Derivative instruments | — | 32,290 | — | 32,290 | |||||||||||||||||||||
Total | $ | 46,261 | $ | 2,238,387 | $ | — | $ | 2,284,648 | |||||||||||||||||
Liabilities | |||||||||||||||||||||||||
Derivative instruments | — | 29,840 | — | 29,840 | |||||||||||||||||||||
Total | $ | — | $ | 29,840 | $ | — | $ | 29,840 | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(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 | |||||||||||||||||
Available for sale securities with a market value of $14.7 million at September 30, 2014 were transferred from the Level 1 to Level 2 fair value category in the table above. The security was issued by Freddie Mac 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 2014 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) | $ | (1,697 | ) | $ | — | ||||||||||||||||||||
Change in unrealized gains (losses) relating to assets still held at September 30, 2014 | — | 16,235 | |||||||||||||||||||||||
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 non-recurring 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) | September 30, 2014 | ||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Loans | $ | — | $ | 1,086 | $ | — | $ | 1,086 | |||||||||||||||||
OREO | — | 6,974 | — | 6,974 | |||||||||||||||||||||
Total | $ | — | $ | 8,060 | $ | — | $ | 8,060 | |||||||||||||||||
(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 | |||||||||||||||||
The tables above exclude the initial measurement of assets and liabilities that were acquired as part of the acquisitions completed in 2011 through 2014. These assets and liabilities were recorded at their fair value upon acquisition in accordance with U.S. GAAP and were not re-measured during the periods presented unless specifically required by U.S. GAAP. 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 310-30, 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 $1.1 million and $4.1 million were recorded at their fair value at September 30, 2014 and December 31, 2013, respectively. These loans include a reserve of $25 thousand and $1.0 million included in the Company’s allowance for credit losses at September 30, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||||||
During the second quarter of 2013, the Company announced plans to close ten branches as part of its business strategy. In addition, during the second quarter of 2014, the Company closed nine branches as part of its acquisition of Teche. The Company notified customers of these branch closings and received the required regulatory approvals to proceed with closure. The Company reviewed the carrying amount of the owned properties and concluded carrying amounts exceeded the fair value of certain branches at that date. 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. As a result, the Company recorded impairment losses in other non-interest expense in its consolidated statement of comprehensive income for the nine months ended September 30, 2014 and the year ended December 31, 2013. After the impairment losses, the carrying value of the closed branches was $3.1 million and $5.1 million at September 30, 2014 and December 31, 2013, respectively, and is included in OREO (as real estate acquired for development or resale) on the Company’s consolidated balance sheet. | |||||||||||||||||||||||||
The Company did not record any liabilities at fair value for which measurement of the fair value was made on a nonrecurring basis at September 30, 2014 and December 31, 2013. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||
NOTE 18 – FAIR VALUE OF FINANCIAL INSTRUMENTS | |||||||||||||||||
The estimated fair value of a financial instrument is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. ASC Topic 825 excludes certain financial instruments and all non-financial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. | |||||||||||||||||
The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value. Refer to Note 1 to these financial statements for the methods and assumptions used to measure the fair value of investment securities and derivative instruments. | |||||||||||||||||
Cash and cash equivalents | |||||||||||||||||
The carrying amounts of cash and cash equivalents approximate their fair value. | |||||||||||||||||
Loans | |||||||||||||||||
The fair values of non-covered mortgage loans receivable are estimated based on present values using entry-value rates (the interest rate that would be charged for a similar loan to a borrower with similar risk at the indicated balance sheet date) at September 30, 2014 and December 31, 2013, weighted for varying maturity dates. Other non-covered loans receivable are valued based on present values using entry-value interest rates at September 30, 2014 and December 31, 2013 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 includes estimates related to expected prepayments and the amount and timing of undiscounted expected principal, interest and other cash flows, which also would be classified within Level 3 of the hierarchy. | |||||||||||||||||
Accrued Interest Receivable and Accrued Interest Payable | |||||||||||||||||
The carrying amount of accrued interest approximates fair value because of the short maturity of these financial instruments. | |||||||||||||||||
FDIC Loss Share Receivable | |||||||||||||||||
The fair value is determined using projected cash flows from loss sharing agreements based on expected reimbursements for losses at the applicable loss sharing percentages based on the terms of the loss share agreements. Cash flows are discounted to reflect the timing and receipt of the loss sharing reimbursements from the FDIC. The fair value of the Company’s FDIC loss share receivable would be categorized within Level 3 of the hierarchy. | |||||||||||||||||
Deposits | |||||||||||||||||
The fair values of NOW accounts, money market deposits and savings accounts are the amounts payable on demand at the reporting date. Certificates of deposit were valued using a discounted cash flow model based on the weighted-average rate at September 30, 2014 and December 31, 2013 for deposits with similar remaining maturities. The fair value of the Company’s deposits would therefore be categorized within Level 3 of the fair value hierarchy. | |||||||||||||||||
Short-term borrowings | |||||||||||||||||
The carrying amounts of short-term borrowings maturing within ninety days approximate their fair values. | |||||||||||||||||
Long-term debt | |||||||||||||||||
The fair values of long-term debt are estimated using discounted cash flow analyses based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. The fair value of the Company’s long-term debt would therefore be categorized within Level 3 of the fair value hierarchy. | |||||||||||||||||
Off-balance sheet items | |||||||||||||||||
The Company has outstanding commitments to extend credit and standby letters of credit. These off-balance sheet financial instruments are generally exercisable at the market rate prevailing at the date the underlying transaction will be completed. At September 30, 2014 and December 31, 2013, the fair value of guarantees under commercial and standby letters of credit was immaterial. | |||||||||||||||||
The estimated fair values and carrying amounts of the Company’s financial instruments are as follows: | |||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
(Dollars in thousands) | Amount | Value | Amount | Value | |||||||||||||
Financial Assets | |||||||||||||||||
Cash and cash equivalents | $ | 668,007 | $ | 668,007 | $ | 391,396 | $ | 391,396 | |||||||||
Investment securities | 2,224,348 | 2,226,286 | 2,090,906 | 2,089,363 | |||||||||||||
Loans and loans held for sale | 11,227,729 | 11,247,080 | 9,620,461 | 9,724,432 | |||||||||||||
FDIC loss share receivable | 94,712 | 27,922 | 162,312 | 21,918 | |||||||||||||
Derivative instruments | 32,290 | 32,290 | 30,076 | 30,076 | |||||||||||||
Accrued interest receivable | 37,143 | 37,143 | 32,143 | 32,143 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | $ | 12,377,775 | $ | 11,986,233 | $ | 10,737,000 | $ | 10,226,573 | |||||||||
Short-term borrowings | 812,783 | 812,783 | 680,344 | 680,344 | |||||||||||||
Long-term debt | 355,569 | 324,282 | 280,699 | 235,503 | |||||||||||||
Derivative instruments | 29,840 | 29,840 | 26,735 | 26,735 | |||||||||||||
Accrued interest payable | 7,972 | 7,972 | 6,102 | 6,102 | |||||||||||||
The fair value estimates presented herein are based upon pertinent information available to management as of September 30, 2014 and December 31, 2013. 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. |
Business_Segments
Business Segments | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Business Segments | ' | ||||||||||||||||
NOTE 19 – 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 LTC. | |||||||||||||||||
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, 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 LTC 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; and | ||||||||||||||||
• | 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 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 and based on the qualitative factors presented within ASC 280. The Company’s IMC and LTC segments do not meet the quantitative thresholds specified by ASC 280, but are reported because management believes information about those segments is useful to users of the financial statements. | |||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||
(Dollars in thousands) | IBERIABANK | IMC | LTC | Consolidated | |||||||||||||
Interest income | $ | 131,362 | $ | 1,804 | $ | 1 | $ | 133,167 | |||||||||
Interest expense | 11,501 | 625 | — | 12,126 | |||||||||||||
Net interest income | 119,861 | 1,179 | 1 | 121,041 | |||||||||||||
Provision for loan losses | 5,621 | 93 | — | 5,714 | |||||||||||||
Mortgage income | (5 | ) | 12,819 | — | 12,814 | ||||||||||||
Title income | — | — | 5,577 | 5,577 | |||||||||||||
Other non-interest income | 27,311 | (37 | ) | (2 | ) | 27,272 | |||||||||||
Core deposit intangible amortization | 1,429 | — | — | 1,429 | |||||||||||||
Allocated expenses | (2,386 | ) | 1,697 | 689 | — | ||||||||||||
Other non-interest expenses | 102,692 | 11,624 | 4,315 | 118,631 | |||||||||||||
Income before income taxes | 39,811 | 547 | 572 | 40,930 | |||||||||||||
Income tax expense | 10,739 | 217 | 230 | 11,186 | |||||||||||||
Net income | $ | 29,072 | $ | 330 | $ | 342 | $ | 29,744 | |||||||||
Total loans and loans held for sale | $ | 11,055,809 | $ | 171,920 | $ | — | $ | 11,227,729 | |||||||||
Total assets | 15,288,157 | 202,923 | 25,529 | 15,516,609 | |||||||||||||
Total deposits | 12,371,606 | 6,169 | — | 12,377,775 | |||||||||||||
Average assets | 15,239,174 | 213,936 | 25,296 | 15,478,406 | |||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||
(Dollars in thousands) | IBERIABANK | IMC | LTC | Consolidated | |||||||||||||
Interest income | $ | 107,051 | $ | 1,459 | $ | 2 | $ | 108,512 | |||||||||
Interest expense | 10,731 | 329 | — | 11,060 | |||||||||||||
Net interest income | 96,320 | 1,130 | 2 | 97,452 | |||||||||||||
Provision for loan losses | 1,868 | 146 | — | 2,014 | |||||||||||||
Mortgage income | 5 | 15,197 | — | 15,202 | |||||||||||||
Title income | — | — | 5,482 | 5,482 | |||||||||||||
Other non-interest income | 22,579 | — | — | 22,579 | |||||||||||||
Core deposit intangible amortization | 1,125 | — | — | 1,125 | |||||||||||||
Allocated expenses | (2,658 | ) | 1,933 | 725 | — | ||||||||||||
Other non-interest expenses | 90,858 | 12,016 | 4,153 | 107,027 | |||||||||||||
Income before income taxes | 27,711 | 2,232 | 606 | 30,549 | |||||||||||||
Income tax expense | 6,228 | 877 | 252 | 7,357 | |||||||||||||
Net income | $ | 21,483 | $ | 1,355 | $ | 354 | $ | 23,192 | |||||||||
Total loans and loans held for sale | $ | 9,024,959 | $ | 126,363 | $ | — | $ | 9,151,322 | |||||||||
Total assets | 12,965,373 | 153,402 | 26,302 | 13,145,077 | |||||||||||||
Total deposits | 10,946,453 | 4,311 | — | 10,950,764 | |||||||||||||
Average assets | 12,761,165 | 157,144 | 26,126 | 12,944,435 | |||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||
(Dollars in thousands) | IBERIABANK | IMC | LTC | Consolidated | |||||||||||||
Interest income | $ | 362,054 | $ | 4,563 | $ | 2 | $ | 366,619 | |||||||||
Interest expense | 30,869 | 1,323 | — | 32,192 | |||||||||||||
Net interest income | 331,185 | 3,240 | 2 | 334,427 | |||||||||||||
Provision for loan losses | 12,481 | 84 | — | 12,565 | |||||||||||||
Mortgage income | 80 | 40,823 | — | 40,903 | |||||||||||||
Title income | — | — | 15,007 | 15,007 | |||||||||||||
Other non-interest income | 73,460 | (61 | ) | (2 | ) | 73,397 | |||||||||||
Core deposit intangible amortization | 3,779 | — | — | 3,779 | |||||||||||||
Allocated expenses | (9,110 | ) | 6,432 | 2,678 | — | ||||||||||||
Other non-interest expenses | 305,121 | 33,558 | 12,405 | 351,084 | |||||||||||||
Income (loss) before income taxes | 92,454 | 3,928 | (76 | ) | 96,306 | ||||||||||||
Income tax expense (benefit) | 24,081 | 1,552 | (14 | ) | 25,619 | ||||||||||||
Net income (loss) | $ | 68,373 | $ | 2,376 | $ | (62 | ) | $ | 70,687 | ||||||||
Total loans and loans held for sale | $ | 11,055,809 | $ | 171,920 | $ | — | $ | 11,227,729 | |||||||||
Total assets | 15,288,157 | 202,923 | 25,529 | 15,516,609 | |||||||||||||
Total deposits | 12,371,606 | 6,169 | — | 12,377,775 | |||||||||||||
Average assets | 14,097,930 | 179,218 | 25,003 | 14,302,151 | |||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||
(Dollars in thousands) | IBERIABANK | IMC | LTC | Consolidated | |||||||||||||
Interest income | $ | 318,646 | $ | 4,428 | $ | 31 | $ | 323,105 | |||||||||
Interest expense | 34,786 | 1,513 | — | 36,299 | |||||||||||||
Net interest income | 283,860 | 2,915 | 31 | 286,806 | |||||||||||||
Provision for loan losses | 320 | 125 | — | 445 | |||||||||||||
Mortgage income | 2 | 51,839 | — | 51,841 | |||||||||||||
Title income | — | — | 16,199 | 16,199 | |||||||||||||
Other non-interest income | 62,206 | (4 | ) | — | 62,202 | ||||||||||||
Core deposit intangible amortization | 3,375 | — | — | 3,375 | |||||||||||||
Allocated expenses | (4,402 | ) | 3,213 | 1,189 | — | ||||||||||||
Other non-interest expenses | 315,332 | 38,942 | 12,761 | 367,035 | |||||||||||||
Income before income taxes | 31,443 | 12,470 | 2,280 | 46,193 | |||||||||||||
Income tax expense (benefit) | 884 | 4,897 | 913 | 6,694 | |||||||||||||
Net income | $ | 30,559 | $ | 7,573 | $ | 1,367 | $ | 39,499 | |||||||||
Total loans and loans held for sale | $ | 9,024,959 | $ | 126,363 | $ | — | $ | 9,151,322 | |||||||||
Total assets | 12,965,373 | 153,402 | 26,302 | 13,145,077 | |||||||||||||
Total deposits | 10,946,453 | 4,311 | — | 10,950,764 | |||||||||||||
Average assets | 12,747,602 | 193,463 | 25,454 | 12,966,519 |
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
NOTE 20 – SUBSEQUENT EVENTS | |
Acquisition of Florida Bank Group, Inc. | |
During the forth quarter of 2014, the Company announced the signing of a definitive agreement pursuant to which IBERIABANK will acquire Florida Bank Group, Inc. (“Florida Bank Group”). The proposed acquisition of Florida Bank Group has been approved by the Board of Directors of each company and is expected to close in the first quarter of 2015, subject to customary closing conditions, including the receipt of required regulatory approvals and the approval of Florida Bank Group’s shareholders. | |
Under the terms of the agreement, Florida Bank Group shareholders will receive a combination of cash and shares of the Company’s common stock. Florida Bank Group shareholders will receive cash equal to $7.81 per share of then outstanding Florida Bank Group common stock, including shares of preferred stock that will convert to common shares in the acquisition. Each Florida Bank Group common share will be exchanged for 0.149 share of the Company’s common stock, subject to certain market price adjustments provided for in the agreement. All unexercised Florida Bank Group stock options, whether or not vested, will be cashed out. | |
Acquisition of Old Florida Bancshares, Inc. | |
During the fourth quarter of 2014, the Company announced the signing of a definitive agreement pursuant to which IBERIABANK will acquire Old Florida Bancshares, Inc. (“Old Florida”), holding company of Old Florida Bank and New Traditions Bank. The proposed acquisition has been approved by the Board of Directors of each company and is expected to close in the first quarter of 2015, subject to customary closing conditions, including the receipt of required regulatory approvals and the approval of Old Florida’s shareholders. | |
Under the terms of the agreement, Old Florida shareholders will receive 0.34 share of the Company’s common stock for each of the Old Florida common stock shares outstanding, subject to certain market price adjustments provided for in the agreement. All unexercised Old Florida stock options, whether or not vested, will be cashed out. |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 9 Months Ended | |||
Sep. 30, 2014 | ||||
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, 1887 Leasing 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. 1887 Leasing LLC owns an aircraft used by management of the Company, and IB Aircraft Holdings, LLC owns a fractional share of a separate aircraft also used by management. 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. | ||||
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 | ||||
Mortgage loans originated and held for sale are recorded at fair value under the fair value option, unless otherwise noted. When determining the fair value of loans held for sale, the Company obtains quotes or bids on these loans directly from the purchasing financial institutions (Level 2). See Note 17 for additional information related to mortgage loans held for sale. | ||||
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 (Level 1), if available, or the fair value of the collateral if the loan is collateral dependent (Level 2). Measuring the impairment of loans using the present value of expected future cash flows, discounted at the loan’s effective interest rate, is not considered a fair value measurement. Fair value of the collateral is determined by appraisals or independent valuation. | ||||
Other real estate owned (OREO) | ||||
Fair values of OREO at September 30, 2014 and 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 $0.5 million and $1.4 million in earnings for the three months ended September 30, 2014 and 2013, respectively, and $1.9 million and $4.0 million for the nine months ended September 30, 2014 and 2013, 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. See Note 12 for further discussion and details related to derivative financial instruments. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
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 periods indicated. | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands, except per share data) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Income available to common shareholders | $ | 29,744 | $ | 23,192 | $ | 70,687 | $ | 39,499 | |||||||||
Distributed earnings (capital) to unvested restricted stock | (444 | ) | (421 | ) | (1,134 | ) | (744 | ) | |||||||||
Distributed earnings (capital) to common shareholders—basic | 29,300 | 22,771 | 69,553 | 38,755 | |||||||||||||
Undistributed earnings reallocated to unvested restricted stock | (4 | ) | (4 | ) | (25 | ) | — | ||||||||||
Distributed and undistributed earnings to common shareholders—diluted | $ | 29,296 | $ | 22,767 | $ | 69,528 | $ | 38,755 | |||||||||
Weighted average shares outstanding—basic (1) | 33,309,881 | 29,631,799 | 31,316,267 | 29,582,081 | |||||||||||||
Weighted average shares outstanding—diluted | 32,926,969 | 29,147,232 | 30,923,050 | 29,062,238 | |||||||||||||
Earnings per common share—basic | $ | 0.89 | $ | 0.78 | $ | 2.26 | $ | 1.34 | |||||||||
Earnings per common share—diluted | 0.89 | 0.78 | 2.25 | 1.33 | |||||||||||||
Earnings per unvested restricted stock share—basic | 0.88 | 0.77 | 2.16 | 1.33 | |||||||||||||
Earnings per unvested restricted stock share—diluted | 0.89 | 0.78 | 2.21 | 1.33 | |||||||||||||
-1 | Weighted average basic shares outstanding include 506,464 and 547,155 shares of unvested restricted stock for the three months ended September 30, 2014 and 2013, respectively, and 525,441 and 559,556 shares for the nine months ended September 30, 2014 and 2013, respectively. | ||||||||||||||||
Schedule of Basic Earnings Per Common Share | ' | ||||||||||||||||
Additional information on the Company’s basic earnings per common share is shown in the following table. | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands, except per share data) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Distributed earnings to common shareholders | $ | 11,200 | $ | 9,926 | $ | 32,430 | $ | 29,736 | |||||||||
Undistributed earnings (distributed capital) to common shareholders | 18,100 | 12,845 | 37,123 | 9,019 | |||||||||||||
Total earnings to common shareholders | $ | 29,300 | $ | 22,771 | $ | 69,553 | $ | 38,755 | |||||||||
Distributed earnings to unvested restricted stock | $ | 170 | $ | 183 | $ | 529 | $ | 571 | |||||||||
Undistributed earnings (distributed capital) to unvested restricted stock | 274 | 238 | 605 | 173 | |||||||||||||
Total earnings allocated to restricted stock | $ | 444 | $ | 421 | $ | 1,134 | $ | 744 | |||||||||
Distributed earnings per common share | $ | 0.34 | $ | 0.34 | $ | 1.05 | $ | 1.03 | |||||||||
Undistributed earnings (distributed capital) per common share | 0.55 | 0.44 | 1.21 | 0.31 | |||||||||||||
Total earnings per common share—basic | $ | 0.89 | $ | 0.78 | $ | 2.26 | $ | 1.34 | |||||||||
Distributed earnings per unvested restricted stock share | $ | 0.34 | $ | 0.34 | $ | 1.01 | $ | 1.02 | |||||||||
Undistributed earnings (distributed capital) per unvested restricted stock share | 0.54 | 0.43 | 1.15 | 0.31 | |||||||||||||
Total earnings per unvested restricted stock share—basic | $ | 0.88 | $ | 0.77 | $ | 2.16 | $ | 1.33 |
Acquisition_Activity_Tables
Acquisition Activity (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Schedule of Assets Acquired under Business Acquisitions | ' | ||||||||||||
As part of the acquisitions, LTC also acquired or created the following other assets: | |||||||||||||
Louisiana Abstract and Title | |||||||||||||
(Dollars in thousands) | The Title Company LLC | LLC | |||||||||||
Goodwill | $ | 221 | $ | 155 | |||||||||
Non-compete agreement | 63 | 100 | |||||||||||
Title plant | 14 | 9 | |||||||||||
Other intangible assets | 75 | 130 | |||||||||||
Other assets | 3 | 6 | |||||||||||
Total Assets | $ | 376 | $ | 400 | |||||||||
Supplemental Pro Forma Information | ' | ||||||||||||
The following unaudited pro forma information for the nine months ended September 30, 2013 reflects the Company’s estimated consolidated results of operations as if the acquisitions of Trust One-Memphis, Teche, and First Private occurred at January 1, 2013, unadjusted for potential cost savings and preliminary purchase price adjustments. | |||||||||||||
(Dollars in thousands, except per share data) | 2013 | ||||||||||||
Interest and non-interest income | $ | 500,638 | |||||||||||
Net income | 46,139 | ||||||||||||
Earnings per share—basic | 1.4 | ||||||||||||
Earnings per share—diluted | 1.4 | ||||||||||||
Teche [Member] | ' | ||||||||||||
Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable | ' | ||||||||||||
The following summarizes consideration paid and a preliminary allocation of purchase price to net assets acquired. | |||||||||||||
(Dollars in thousands) | Number of Shares | Amount | |||||||||||
Equity consideration | |||||||||||||
Common stock issued | 2,498,007 | $ | 156,026 | ||||||||||
Total equity consideration | 156,026 | ||||||||||||
Non-Equity consideration | |||||||||||||
Cash | 714 | ||||||||||||
Total consideration paid | 156,740 | ||||||||||||
Fair value of net assets assumed including identifiable intangible assets | 71,954 | ||||||||||||
Goodwill | $ | 84,786 | |||||||||||
Schedule of Business Acquisitions, by Acquisition | ' | ||||||||||||
Teche | Preliminary | ||||||||||||
Fair Value | As recorded by | ||||||||||||
(Dollars in thousands) | As Acquired | Adjustments | IBERIABANK | ||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 71,611 | $ | — | $ | 71,611 | |||||||
Investment securities | 24,077 | 1,092 | (1) | 25,169 | |||||||||
Loans | 716,196 | (16,636 | )(2) | 699,560 | |||||||||
Other real estate owned | 329 | (153 | )(3) | 176 | |||||||||
Core deposit intangible | — | 2,055 | (4) | 2,055 | |||||||||
Deferred tax asset | 1,057 | 7,337 | (5) | 8,394 | |||||||||
Other assets | 56,752 | (6,261 | )(6) | 50,491 | |||||||||
Total Assets | $ | 870,022 | $ | (12,566 | ) | $ | 857,456 | ||||||
Liabilities | |||||||||||||
Interest-bearing deposits | $ | 520,446 | $ | 902 | (7) | $ | 521,348 | ||||||
Non-interest-bearing deposits | 118,256 | — | 118,256 | ||||||||||
Borrowings | 134,228 | 6,304 | (8) | 140,532 | |||||||||
Other liabilities | 5,366 | — | 5,366 | ||||||||||
Total Liabilities | $ | 778,296 | $ | 7,206 | $ | 785,502 | |||||||
Explanation of certain fair value adjustments | |||||||||||||
(1) | The amount represents the adjustment to the book value of Teche’s investments to their estimated fair value based on fair values on the date of acquisition. | ||||||||||||
(2) | The amount represents the adjustment of the book value of Teche loans to their estimated fair value based on current interest rates and expected cash flows, which includes estimates of expected credit losses inherent in the portfolio. | ||||||||||||
(3) | The amount represents the adjustment to the book value of Teche’s OREO to their estimated fair value on the date of acquisition. | ||||||||||||
(4) | The amount represents the fair value of the core deposit intangible asset created in the acquisition. | ||||||||||||
(5) | The amount represents the deferred tax asset recognized on the fair value adjustment of Teche acquired assets and assumed liabilities. | ||||||||||||
(6) | The amount represents the write down of the book value of Teche’s property, equipment, and other assets to their estimated fair value at the acquisition date based on their appraised value. | ||||||||||||
(7) | The adjustment is necessary because the weighted average interest rate of Teche’s deposits exceeded the cost of similar funding at the time of acquisition. The fair value adjustment will be amortized to reduce future interest expense over the life of the portfolio, which is estimated at 85 months. | ||||||||||||
(8) | The adjustment is necessary because the interest rate of Teche’s borrowings exceeded current interest rates on similar borrowings. | ||||||||||||
First Private [Member] | ' | ||||||||||||
Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable | ' | ||||||||||||
The following summarizes consideration paid and a preliminary allocation of purchase price to net assets acquired. | |||||||||||||
(Dollars in thousands) | Number of Shares | Amount | |||||||||||
Equity consideration | |||||||||||||
Common stock issued | 847,509 | $ | 58,639 | ||||||||||
Total equity consideration | 58,639 | ||||||||||||
Non-Equity consideration | |||||||||||||
Cash | 1 | ||||||||||||
Total consideration paid | 58,640 | ||||||||||||
Fair value of net liabilities assumed including identifiable intangible assets | 28,029 | ||||||||||||
Goodwill | $ | 30,611 | |||||||||||
Schedule of Business Acquisitions, by Acquisition | ' | ||||||||||||
First Private | Preliminary | ||||||||||||
Fair Value | As recorded by | ||||||||||||
(Dollars in thousands) | As Acquired | Adjustments | IBERIABANK | ||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 26,621 | $ | — | $ | 26,621 | |||||||
Investment securities | 18,920 | 297 | (1) | 19,217 | |||||||||
Loans | 295,736 | (910 | )(2) | 294,826 | |||||||||
Other real estate owned | — | — | — | ||||||||||
Core deposit intangible | — | 506 | (3) | 506 | |||||||||
Deferred tax asset (liability) | 530 | 122 | (4) | 652 | |||||||||
Other assets | 5,230 | — | 5,230 | ||||||||||
Total Assets | $ | 347,037 | $ | 15 | $ | 347,052 | |||||||
Liabilities | |||||||||||||
Interest-bearing deposits | $ | 261,713 | $ | 220 | (5) | $ | 261,933 | ||||||
Non-interest-bearing deposits | 50,333 | — | 50,333 | ||||||||||
Borrowings | 6,451 | — | 6,451 | ||||||||||
Other liabilities | 306 | — | 306 | ||||||||||
Total Liabilities | $ | 318,803 | $ | 220 | $ | 319,023 | |||||||
Explanation of certain fair value adjustments | |||||||||||||
(1) | The amount represents the adjustment to the book value of First Private’s investments to their estimated fair value based on fair values on the date of acquisition. | ||||||||||||
(2) | The amount represents the adjustment of the book value of First Private loans to their estimated fair value based on current interest rates and expected cash flows, which includes estimates of expected credit losses inherent in the portfolio. | ||||||||||||
(3) | The amount represents the fair value of the core deposit intangible asset created in the acquisition. | ||||||||||||
(4) | The amount represents the deferred tax liability recognized on the fair value adjustment of First Private acquired assets and assumed liabilities. | ||||||||||||
(5) | The adjustment is necessary because the weighted average interest rate of First Private’s deposits exceeded the cost of similar funding at the time of acquisition. The fair value adjustment will be amortized to reduce future interest expense over the life of the portfolio, which is estimated at 85 months. | ||||||||||||
Trust One- Memphis [Member] | ' | ||||||||||||
Schedule of Business Acquisitions, by Acquisition | ' | ||||||||||||
The acquired assets and liabilities, as well as the preliminary adjustments to record the assets and liabilities at their estimated fair values, are presented in the following tables. | |||||||||||||
Trust One - Memphis | Preliminary | ||||||||||||
Fair Value | As recorded by | ||||||||||||
(Dollars in thousands) | As Acquired | Adjustments | IBERIABANK | ||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 92,060 | $ | — | $ | 92,060 | |||||||
Loans | 88,179 | (1,726 | )(1) | 86,453 | |||||||||
Other real estate owned | 1,325 | — | 1,325 | ||||||||||
Core deposit intangible | — | 2,597 | (2) | 2,597 | |||||||||
Other assets | 368 | — | 368 | ||||||||||
Total Assets | $ | 181,932 | $ | 871 | $ | 182,803 | |||||||
Liabilities | |||||||||||||
Interest-bearing deposits | $ | 164,942 | $ | — | $ | 164,942 | |||||||
Non-interest-bearing deposits | 26,373 | — | 26,373 | ||||||||||
Deferred tax liability | — | — | — | ||||||||||
Other liabilities | 84 | — | 84 | ||||||||||
Total Liabilities | $ | 191,399 | $ | — | $ | 191,399 | |||||||
Explanation of certain fair value adjustments | |||||||||||||
(1) | The amount represents the adjustment of the book value of Trust One-Memphis loans to their estimated fair value based on current interest rates and expected cash flows, which includes estimates of expected credit losses inherent in the portfolio. | ||||||||||||
(2) | The amount represents the fair value of the core deposit intangible asset created in the acquisition. |
Investment_Securities_Tables
Investment Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Amortized Cost and Fair Values of Investment Securities, with Gross Unrealized Gains and Losses | ' | ||||||||||||||||||||||||
The amortized cost and fair values of investment securities, with gross unrealized gains and losses, consist of the following: | |||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
(Dollars in thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 359,404 | $ | 1,465 | $ | (5,926 | ) | $ | 354,943 | ||||||||||||||||
Obligations of state and political obligations | 87,895 | 3,891 | — | 91,786 | |||||||||||||||||||||
Mortgage-backed securities | 1,656,341 | 11,613 | (12,338 | ) | 1,655,616 | ||||||||||||||||||||
Other securities | 1,460 | 23 | — | 1,483 | |||||||||||||||||||||
Total securities available for sale | $ | 2,105,100 | $ | 16,992 | $ | (18,264 | ) | $ | 2,103,828 | ||||||||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprise obligations | $ | 10,000 | $ | 157 | $ | — | $ | 10,157 | |||||||||||||||||
Obligations of state and political obligations | 79,309 | 3,044 | (266 | ) | 82,087 | ||||||||||||||||||||
Mortgage-backed securities | 31,211 | 197 | (1,194 | ) | 30,214 | ||||||||||||||||||||
Total securities held to maturity | $ | 120,520 | $ | 3,398 | $ | (1,460 | ) | $ | 122,458 | ||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
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 | ||||||||||||||||
Schedule of Securities with Gross Unrealized Losses Aggregated by Investment Category | ' | ||||||||||||||||||||||||
Information pertaining to securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position, is as follows: | |||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
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 | $ | — | $ | — | $ | (5,926 | ) | $ | 258,521 | $ | (5,926 | ) | $ | 258,521 | |||||||||||
Obligations of state and political obligations | — | 186 | — | — | — | 186 | |||||||||||||||||||
Mortgage-backed securities | (2,846 | ) | 552,357 | (9,492 | ) | 333,795 | (12,338 | ) | 886,152 | ||||||||||||||||
Total securities available for sale | $ | (2,846 | ) | $ | 552,543 | $ | (15,418 | ) | $ | 592,316 | $ | (18,264 | ) | $ | 1,144,859 | ||||||||||
Securities held to maturity: | |||||||||||||||||||||||||
Obligations of state and political obligations | $ | (1 | ) | $ | 564 | $ | (265 | ) | $ | 10,811 | $ | (266 | ) | $ | 11,375 | ||||||||||
Mortgage-backed securities | — | 72 | (1,194 | ) | 24,303 | (1,194 | ) | 24,375 | |||||||||||||||||
Total securities held to maturity | $ | (1 | ) | $ | 636 | $ | (1,459 | ) | $ | 35,114 | $ | (1,460 | ) | $ | 35,750 | ||||||||||
31-Dec-13 | |||||||||||||||||||||||||
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 | ||||||||||
Additional Information on Securities in a Continuous Loss Position | ' | ||||||||||||||||||||||||
Additional information on securities that have been in a continuous loss position for over twelve months at September 30, 2014 and December 31, 2013 is presented in the following table. | |||||||||||||||||||||||||
(Dollars in thousands) | September 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Number of securities | |||||||||||||||||||||||||
Issued by Fannie Mae, Freddie Mac, or Ginnie Mae | 78 | 20 | |||||||||||||||||||||||
Issued by political subdivisions | 6 | 5 | |||||||||||||||||||||||
84 | 25 | ||||||||||||||||||||||||
Amortized Cost Basis | |||||||||||||||||||||||||
Issued by Fannie Mae, Freddie Mac, or Ginnie Mae | $ | 633,230 | $ | 104,520 | |||||||||||||||||||||
Issued by political subdivisions | 11,076 | 7,956 | |||||||||||||||||||||||
$ | 644,306 | $ | 112,476 | ||||||||||||||||||||||
Unrealized Loss | |||||||||||||||||||||||||
Issued by Fannie Mae, Freddie Mac, or Ginnie Mae | $ | 16,611 | $ | 5,519 | |||||||||||||||||||||
Issued by political subdivisions | 265 | 669 | |||||||||||||||||||||||
$ | 16,876 | $ | 6,188 | ||||||||||||||||||||||
Schedule of Amortized Cost and Estimated Fair Value of Investment Securities by Maturity | ' | ||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities by maturity at September 30, 2014 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 | 1.27 | % | $ | 15,397 | $ | 15,488 | 2.65 | % | $ | 10,000 | $ | 10,157 | |||||||||||||
One through five years | 1.54 | 241,992 | 241,502 | 2.84 | 12,968 | 13,352 | |||||||||||||||||||
After five through ten years | 2.1 | 474,758 | 476,954 | 2.97 | 17,983 | 18,591 | |||||||||||||||||||
Over ten years | 2.18 | 1,372,953 | 1,369,884 | 3.05 | 79,569 | 80,358 | |||||||||||||||||||
Total | 2.08 | % | $ | 2,105,100 | $ | 2,103,828 | 2.98 | % | $ | 120,520 | $ | 122,458 | |||||||||||||
Schedule of Realized Gains and Losses from Sale of Securities Classified as Available for Sale | ' | ||||||||||||||||||||||||
The following is a summary of realized gains and losses from the sale of securities classified as available for sale. Gains or losses on securities sold are recorded on the trade date, using the specific identification method. | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30 | September 30 | ||||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Realized gains | $ | 582 | $ | — | $ | 609 | $ | 2,369 | |||||||||||||||||
Realized losses | — | (3 | ) | — | (110 | ) | |||||||||||||||||||
Net realized gains (losses) | $ | 582 | $ | (3 | ) | $ | 609 | $ | 2,259 | ||||||||||||||||
Schedule of Securities in Other Assets on Company's Consolidated Balance Sheets | ' | ||||||||||||||||||||||||
At September 30, 2014 and December 31, 2013, the Company included the following securities in “Other assets” on the consolidated balance sheets: | |||||||||||||||||||||||||
September 30 | December 31 | ||||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||||||||||||||||
Federal Home Loan Bank (FHLB) stock | $ | 41,011 | $ | 24,369 | |||||||||||||||||||||
Federal Reserve Bank (FRB) stock | 34,348 | 28,098 | |||||||||||||||||||||||
Other investments | 1,306 | 1,306 | |||||||||||||||||||||||
Total | $ | 76,665 | $ | 53,773 |
Loans_Receivable_Tables
Loans Receivable (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||
Schedule of Non-Covered and Covered Loans | ' | ||||||||||||||||||||||||||||||||
Loans receivable consist of the following, segregated into non-covered and covered loans, for the periods indicated: | |||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | Non-covered loans | Covered loans | Total | ||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 4,032,419 | $ | 247,156 | $ | 4,279,575 | |||||||||||||||||||||||||||
Business | 3,193,098 | 34,234 | 3,227,332 | ||||||||||||||||||||||||||||||
7,225,517 | 281,390 | 7,506,907 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 911,099 | 130,976 | 1,042,075 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | 27,888 | — | 27,888 | ||||||||||||||||||||||||||||||
938,987 | 130,976 | 1,069,963 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 1,458,067 | 107,811 | 1,565,878 | ||||||||||||||||||||||||||||||
Indirect automobile | 394,691 | — | 394,691 | ||||||||||||||||||||||||||||||
Other | 537,748 | 4,012 | 541,760 | ||||||||||||||||||||||||||||||
2,390,506 | 111,823 | 2,502,329 | |||||||||||||||||||||||||||||||
Total | $ | 10,555,010 | $ | 524,189 | $ | 11,079,199 | |||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
(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 | |||||||||||||||||||||||||||||||
Total | $ | 8,772,226 | $ | 719,793 | $ | 9,492,019 | |||||||||||||||||||||||||||
Schedule of Non-Covered Loans on Nonaccrual Status | ' | ||||||||||||||||||||||||||||||||
The following table provides the recorded investment of non-covered loans, excluding acquired loans, on non-accrual status at September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||||||
September 30 | December 31 | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 1,317 | $ | 1,803 | |||||||||||||||||||||||||||||
Commercial real estate—other | 6,789 | 7,648 | |||||||||||||||||||||||||||||||
Commercial business | 2,737 | 15,020 | |||||||||||||||||||||||||||||||
Residential prime | 10,973 | 8,611 | |||||||||||||||||||||||||||||||
Residential subprime | 6,197 | 1,626 | |||||||||||||||||||||||||||||||
Home equity | 7,306 | 6,808 | |||||||||||||||||||||||||||||||
Indirect automobile | 1,338 | 1,275 | |||||||||||||||||||||||||||||||
Credit card | 987 | 411 | |||||||||||||||||||||||||||||||
Other | 416 | 485 | |||||||||||||||||||||||||||||||
Total | $ | 38,060 | $ | 43,687 | |||||||||||||||||||||||||||||
Schedule of Carrying Amount of Acquired Covered Loans | ' | ||||||||||||||||||||||||||||||||
The carrying amount of the acquired covered loans at September 30, 2014 and December 31, 2013 consisted of loans determined to be impaired at the acquisition date, which are accounted for in accordance with ASC Topic 310-30, and loans that were considered to be performing at the acquisition date, accounted for by analogy to ASC Topic 310-30, as detailed in the following tables. | |||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Covered | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Loans | Loans | Loans | ||||||||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||||||||||
Real estate | $ | 4,678 | $ | 242,478 | $ | 247,156 | |||||||||||||||||||||||||||
Business | 620 | 33,614 | 34,234 | ||||||||||||||||||||||||||||||
5,298 | 276,092 | 281,390 | |||||||||||||||||||||||||||||||
Residential mortgage loans: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 24,304 | 106,672 | 130,976 | ||||||||||||||||||||||||||||||
Construction / Owner Occupied | — | — | — | ||||||||||||||||||||||||||||||
24,304 | 106,672 | 130,976 | |||||||||||||||||||||||||||||||
Consumer and other loans: | |||||||||||||||||||||||||||||||||
Home equity | 16,210 | 91,601 | 107,811 | ||||||||||||||||||||||||||||||
Indirect automobile | — | — | — | ||||||||||||||||||||||||||||||
Other | 489 | 3,523 | 4,012 | ||||||||||||||||||||||||||||||
16,699 | 95,124 | 111,823 | |||||||||||||||||||||||||||||||
Total | $ | 46,301 | $ | 477,888 | $ | 524,189 | |||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||
Total | $ | 66,077 | $ | 653,716 | $ | 719,793 | |||||||||||||||||||||||||||
Schedule of Carrying Amount of Loans Acquired | ' | ||||||||||||||||||||||||||||||||
The Company acquired loans (both covered and non-covered) through previous acquisitions, which are subject to ASC Topic 310-30. | |||||||||||||||||||||||||||||||||
As discussed in Note 4, during 2014, the Company acquired loans of $86.5 million from Trust One-Memphis, $699.6 million from Teche, and $294.8 million from First Private in the current period. Acquired loans totaling $1.0 billion are accounted for under ASC Topic 310-10, while the carrying amounts of the loans acquired in the current period subject to ASC Topic 310-30 are detailed in the following table as of the purchase date. The allocation of loans acquired from both Teche and First Private between loans subject to ASC Topic 310-30 and those subject to ASC Topic 310-10 is preliminary and subject to change up to one year after the acquisition date as information on these loans becomes available. | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Acquired | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Loans | Loans | Loans | ||||||||||||||||||||||||||||||
Contractually required principal and interest at acquisition | $ | 82,967 | $ | 15,130 | $ | 98,097 | |||||||||||||||||||||||||||
Nonaccretable difference (expected losses and foregone interest) | (4,197 | ) | (361 | ) | (4,558 | ) | |||||||||||||||||||||||||||
Cash flows expected to be collected at acquisition | 78,770 | 14,769 | 93,539 | ||||||||||||||||||||||||||||||
Accretable yield | (8,242 | ) | (1,536 | ) | (9,778 | ) | |||||||||||||||||||||||||||
Basis in acquired loans at acquisition | $ | 70,528 | $ | 13,233 | $ | 83,761 | |||||||||||||||||||||||||||
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 nine months ended September 30, 2014 and 2013. | |||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Acquired | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Loans | Loans | Loans | ||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 78,349 | $ | 276,543 | $ | 354,892 | |||||||||||||||||||||||||||
Acquisition | 8,242 | 1,536 | 9,778 | ||||||||||||||||||||||||||||||
Transfers from nonaccretable difference to accretable yield | 3,952 | 13,872 | 17,824 | ||||||||||||||||||||||||||||||
Accretion | (12,766 | ) | (66,590 | ) | (79,356 | ) | |||||||||||||||||||||||||||
Changes in expected cash flows not affecting nonaccretable differences (1) | (6,873 | ) | (19,377 | ) | (26,250 | ) | |||||||||||||||||||||||||||
Balance at end of period | $ | 70,904 | $ | 205,984 | $ | 276,888 | |||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||
Acquired | Acquired | Total | |||||||||||||||||||||||||||||||
Impaired | Performing | Acquired | |||||||||||||||||||||||||||||||
Loans | Loans | Loans | |||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 76,623 | $ | 279,770 | $ | 356,393 | |||||||||||||||||||||||||||
Transfers from nonaccretable difference to accretable yield | 6,148 | 34,480 | 40,628 | ||||||||||||||||||||||||||||||
Accretion | (13,519 | ) | (119,193 | ) | (132,712 | ) | |||||||||||||||||||||||||||
Changes in expected cash flows not affecting nonaccretable differences (1) | 10,561 | 81,173 | 91,734 | ||||||||||||||||||||||||||||||
Balance at end of period | $ | 79,813 | $ | 276,230 | $ | 356,043 | |||||||||||||||||||||||||||
(1) | Includes changes in cash flows expected to be collected due to the impact of changes in actual or expected timing of liquidation events, modifications, changes in interest rates and changes in prepayment assumptions. | ||||||||||||||||||||||||||||||||
Schedule of Troubled Debt Restructurings | ' | ||||||||||||||||||||||||||||||||
Information about the Company’s troubled debt restructurings (“TDRs”) at September 30, 2014 and 2013 is presented in the following tables. | |||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||
Accruing Loans | Accruing Loans | ||||||||||||||||||||||||||||||||
Past Due | Nonaccrual | Past Due | Nonaccrual | ||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | > 30 days | TDRs | Total TDRs | Current | > 30 days | TDRs | Total TDRs | |||||||||||||||||||||||||
Commercial real estate construction | $ | — | $ | — | $ | — | $ | — | $ | — | — | — | — | ||||||||||||||||||||
Commercial real estate—other | 367 | — | 58 | 425 | 411 | — | 5,601 | 6,012 | |||||||||||||||||||||||||
Commercial business | 726 | — | 2,027 | 2,753 | 1,056 | — | 12,610 | 13,666 | |||||||||||||||||||||||||
Residential prime | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Residential subprime | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Home equity | — | — | 243 | 243 | — | — | 263 | 263 | |||||||||||||||||||||||||
Indirect automobile | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Credit card | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Total | $ | 1,093 | $ | — | $ | 2,328 | $ | 3,421 | $ | 1,467 | $ | — | $ | 18,474 | $ | 19,941 | |||||||||||||||||
TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock | ' | ||||||||||||||||||||||||||||||||
The following table provides information on how the TDRs were modified during the nine months ended September 30: | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||||||||||||||||||||||||
Extended maturities | $ | — | $ | — | |||||||||||||||||||||||||||||
Interest rate adjustment | — | — | |||||||||||||||||||||||||||||||
Maturity and interest rate adjustment | — | — | |||||||||||||||||||||||||||||||
Movement to or extension of interest-rate only payments | — | — | |||||||||||||||||||||||||||||||
Forbearance | — | — | |||||||||||||||||||||||||||||||
Other concession(s) (1) | — | 11,210 | |||||||||||||||||||||||||||||||
Total | $ | — | $ | 11,210 | |||||||||||||||||||||||||||||
(1) | Other concessions include concessions or a combination of concessions that do not consist of maturity extensions, interest rate adjustments, forbearance or covenant modifications. | ||||||||||||||||||||||||||||||||
TDRs [Member] | ' | ||||||||||||||||||||||||||||||||
Schedule of Subsequently Defaulted TDRs | ' | ||||||||||||||||||||||||||||||||
Information about the Company’s TDRs occurring in these periods is presented in the following table. | |||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||
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 | — | $ | — | $ | — | 5 | $ | 12,507 | $ | 12,329 | |||||||||||||||||||||||
Total | — | $ | — | $ | — | 5 | $ | 12,507 | $ | 12,329 | |||||||||||||||||||||||
(1) | Recorded investment includes any allowance for credit losses recorded on the TDRs at the dates indicated. | ||||||||||||||||||||||||||||||||
Information detailing non-covered TDRs that subsequently defaulted during the previous twelve months is presented in the following table. The Company has defined a default as any loan with a loan payment that is currently past due greater than 30 days, or was past due greater than 30 days at any point during the previous twelve months, or since the date of modification, whichever is shorter. | |||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||||||
(In thousands, except number of loans) | Loans | Investment | Loans | Investment | |||||||||||||||||||||||||||||
Commercial real estate | 31 | $ | 58 | 45 | $ | 6,012 | |||||||||||||||||||||||||||
Commercial business | 11 | 1,767 | 13 | 12,370 | |||||||||||||||||||||||||||||
Residential prime | — | — | — | — | |||||||||||||||||||||||||||||
Home Equity | — | — | 1 | 47 | |||||||||||||||||||||||||||||
Indirect automobile | — | — | — | — | |||||||||||||||||||||||||||||
Credit card | — | — | — | — | |||||||||||||||||||||||||||||
Other | 1 | — | 1 | — | |||||||||||||||||||||||||||||
Total | 43 | $ | 1,825 | 60 | $ | 18,429 | |||||||||||||||||||||||||||
Non-Covered Loans Excluding Acquired Loans [Member] | ' | ||||||||||||||||||||||||||||||||
Schedule of Aging of Non-Covered Loans | ' | ||||||||||||||||||||||||||||||||
The following tables provide an analysis of the aging of non-covered loans as of September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
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 | $ | 84 | $ | — | $ | 1,317 | $ | 1,401 | $ | 634,593 | $ | 635,994 | $ | — | |||||||||||||||||||
Commercial real estate—other | 1,347 | 640 | 6,789 | 8,776 | 2,882,842 | 2,891,618 | — | ||||||||||||||||||||||||||
Commercial business | 1,475 | 44 | 2,737 | 4,256 | 3,089,617 | 3,093,873 | — | ||||||||||||||||||||||||||
Residential prime | 1,859 | 1,349 | 10,973 | 14,181 | 362,513 | 376,694 | — | ||||||||||||||||||||||||||
Residential subprime | — | 2 | 6,197 | 6,199 | 114,182 | 120,381 | — | ||||||||||||||||||||||||||
Home equity | 1,783 | 201 | 7,310 | 9,294 | 1,220,704 | 1,229,998 | 4 | ||||||||||||||||||||||||||
Indirect automobile | 1,825 | 502 | 1,338 | 3,665 | 390,413 | 394,078 | — | ||||||||||||||||||||||||||
Credit card | 149 | 123 | 987 | 1,259 | 67,472 | 68,731 | — | ||||||||||||||||||||||||||
Other | 720 | 337 | 416 | 1,473 | 367,102 | 368,575 | — | ||||||||||||||||||||||||||
Total | $ | 9,242 | $ | 3,198 | $ | 38,064 | $ | 50,504 | $ | 9,129,438 | $ | 9,179,942 | $ | 4 | |||||||||||||||||||
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 | — | ||||||||||||||||||||||||||
Total | $ | 13,426 | $ | 7,965 | $ | 44,762 | $ | 66,153 | $ | 8,222,168 | $ | 8,288,321 | $ | 1,075 | |||||||||||||||||||
(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 | ' | ||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||
Total Non-covered | Recorded | ||||||||||||||||||||||||||||||||
Past Due (1) | Loans, Net of | Investment > 90 days | |||||||||||||||||||||||||||||||
(Dollars in | 30-59 days | 60-89 days | > 90 days | Total | Current | Discount/ Premium | Unearned Income | and Accruing | |||||||||||||||||||||||||
thousands) | |||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 340 | $ | 45 | $ | 2,118 | $ | 2,503 | $ | 36,832 | $ | (2,061 | ) | $ | 37,274 | $ | 1,821 | ||||||||||||||||
Commercial real estate—other | 1,464 | 277 | 22,081 | 23,822 | 486,238 | (42,527 | ) | 467,533 | 20,614 | ||||||||||||||||||||||||
Commercial business | 717 | 25 | 1,905 | 2,647 | 101,722 | (5,144 | ) | 99,225 | 1,892 | ||||||||||||||||||||||||
Residential prime | 76 | 931 | 7,437 | 8,444 | 432,837 | 631 | 441,912 | 369 | |||||||||||||||||||||||||
Home equity | 1,615 | 1,003 | 8,203 | 10,821 | 228,051 | (10,803 | ) | 228,069 | 4,102 | ||||||||||||||||||||||||
Indirect automobile | 7 | 1 | 43 | 51 | 606 | (44 | ) | 613 | 43 | ||||||||||||||||||||||||
Other | 337 | 7 | 2,051 | 2,395 | 109,599 | (11,552 | ) | 100,442 | 389 | ||||||||||||||||||||||||
Total | $ | 4,556 | $ | 2,289 | $ | 43,838 | $ | 50,683 | $ | 1,395,885 | $ | (71,500 | ) | $ | 1,375,068 | $ | 29,230 | ||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||
Total Non-covered | Recorded | ||||||||||||||||||||||||||||||||
Past Due (1) | Loans, Net of | Investment > 90 days | |||||||||||||||||||||||||||||||
(Dollars in | 30-59 days | 60-89 days | > 90 days | Total | Current | Discount/ Premium | Unearned Income | and Accruing | |||||||||||||||||||||||||
thousands) | |||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||
Total | $ | 3,251 | $ | 2,580 | $ | 37,265 | $ | 43,096 | $ | 506,422 | $ | (65,613 | ) | $ | 483,905 | $ | 37,265 | ||||||||||||||||
(1) | Past due information presents acquired loans at the gross loan balance, prior to application of discounts. |
Allowance_for_Credit_Losses_an1
Allowance for Credit Losses and Credit Quality (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
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 for the nine months ended September 30, 2014 and 2013 is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
Excluding | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Acquired Loans | Acquired Loans | Covered Loans | Total | |||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 67,342 | $ | 4,557 | $ | 71,175 | $ | 143,074 | |||||||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses before benefit attributable to FDIC loss share agreements | 9,099 | (1,259 | ) | 5,878 | 13,718 | ||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | (1,153 | ) | (1,153 | ) | |||||||||||||||||||||||||||||||||||||||||||
Net (reversal of) provision for loan losses | 9,099 | (1,259 | ) | 4,725 | 12,565 | ||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | 1,153 | 1,153 | |||||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | (207 | ) | (5,171 | ) | (5,378 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (8,242 | ) | (586 | ) | (12,823 | ) | (21,651 | ) | |||||||||||||||||||||||||||||||||||||||||
Recoveries | 4,338 | 401 | 38 | 4,777 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 72,537 | $ | 2,906 | $ | 59,097 | $ | 134,540 | |||||||||||||||||||||||||||||||||||||||||
Reserve for unfunded lending commitments | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 11,147 | $ | — | $ | — | $ | 11,147 | |||||||||||||||||||||||||||||||||||||||||
Provision for unfunded lending commitments | 952 | — | — | 952 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 12,099 | $ | — | $ | — | $ | 12,099 | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
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 adjustment attributable to FDIC loss share agreements | 2,884 | (2,464 | ) | (58,540 | ) | (58,120 | ) | ||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | 58,565 | 58,565 | |||||||||||||||||||||||||||||||||||||||||||||
Net (reversal of) provision for loan losses | 2,884 | (2,464 | ) | 25 | 445 | ||||||||||||||||||||||||||||||||||||||||||||
Adjustment attributable to FDIC loss share arrangements | — | — | (58,565 | ) | (58,565 | ) | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | (1,013 | ) | (29,302 | ) | (30,315 | ) | ||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to the RULC | (9,828 | ) | — | — | (9,828 | ) | |||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (7,455 | ) | (10 | ) | (1,683 | ) | (9,148 | ) | |||||||||||||||||||||||||||||||||||||||||
Recoveries | 4,353 | — | — | 4,353 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | 64,165 | 5,329 | $ | 79,051 | $ | 148,545 | |||||||||||||||||||||||||||||||||||||||||||
Reserve for unfunded lending commitments | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of period | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Transfer of balance from the allowance for loan losses | 9,828 | — | — | 9,828 | |||||||||||||||||||||||||||||||||||||||||||||
Provision for unfunded lending commitments | 2,131 | — | — | 2,131 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 11,959 | $ | — | $ | — | $ | 11,959 | |||||||||||||||||||||||||||||||||||||||||
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, for the nine months ended September 30, 2014 and 2013 is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 26,590 | $ | 28,515 | $ | 2,546 | $ | 14,248 | $ | — | $ | 71,899 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 611 | 2,187 | 514 | 4,528 | — | 7,840 | |||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | — | (130 | ) | (12 | ) | (65 | ) | — | (207 | ) | |||||||||||||||||||||||||||||||||||||||
Loans charged off | (1,214 | ) | (1,097 | ) | (607 | ) | (5,910 | ) | — | (8,828 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 2,209 | 93 | 134 | 2,303 | — | 4,739 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 28,196 | $ | 29,568 | $ | 2,575 | $ | 15,104 | $ | — | $ | 75,443 | |||||||||||||||||||||||||||||||||||||
Reserve for unfunded commitments | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 3,089 | $ | 4,839 | $ | 72 | $ | 3,147 | $ | — | $ | 11,147 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for unfunded commitments | 726 | 192 | 11 | 23 | — | 952 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 3,815 | $ | 5,031 | $ | 83 | $ | 3,170 | $ | — | $ | 12,099 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | 25 | $ | — | $ | — | $ | — | $ | — | $ | 25 | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 28,171 | 29,568 | 2,575 | 15,104 | — | 75,418 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 4,032,419 | $ | 3,193,098 | $ | 938,987 | $ | 2,390,506 | $ | — | $ | 10,555,010 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | 7,357 | 3,276 | — | 706 | — | 11,339 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 4,025,062 | 3,189,822 | 938,987 | 2,389,800 | — | 10,543,671 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 15,061 | 2,562 | 160 | 1,707 | — | 19,490 | |||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 38,264 | $ | 28,721 | $ | 2,125 | $ | 13,917 | $ | — | $ | 83,027 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | (6,926 | ) | (582 | ) | 1,048 | 6,880 | — | 420 | |||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (279 | ) | (81 | ) | (646 | ) | (7 | ) | — | (1,013 | ) | ||||||||||||||||||||||||||||||||||||||
Transfer of balance to the RULC | (2,939 | ) | (3,497 | ) | (40 | ) | (3,352 | ) | — | (9,828 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (1,966 | ) | (531 | ) | (481 | ) | (4,487 | ) | — | (7,465 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 1,498 | 354 | 698 | 1,803 | — | 4,353 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 27,652 | $ | 24,384 | $ | 2,704 | $ | 14,754 | $ | — | $ | 69,494 | |||||||||||||||||||||||||||||||||||||
Reserve for unfunded commitments | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Transfer of balance from the allowance for loan losses | 2,939 | 3,497 | 40 | 3,352 | 9,828 | ||||||||||||||||||||||||||||||||||||||||||||
Provision for unfunded commitments | 1,207 | 610 | 38 | 276 | 2,131 | ||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 4,146 | $ | 4,107 | $ | 78 | $ | 3,628 | $ | — | $ | 11,959 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | 8 | $ | 801 | $ | 283 | $ | — | $ | — | $ | 1,092 | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 27,644 | 23,583 | 2,421 | 14,754 | — | 68,402 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 3,320,333 | $ | 2,643,822 | $ | 409,940 | $ | 1,861,940 | $ | — | $ | 8,236,035 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | 9,529 | 14,548 | 1,407 | 263 | — | 25,747 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 3,310,804 | 2,629,274 | 408,533 | 1,861,677 | — | 8,210,288 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 16,287 | 45 | 120 | 1,815 | — | 18,267 | |||||||||||||||||||||||||||||||||||||||||||
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, for the nine months ended September 30, 2014 and 2013 is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 38,772 | $ | 5,380 | $ | 10,889 | $ | 16,134 | $ | — | $ | 71,175 | |||||||||||||||||||||||||||||||||||||
Provision for loan losses | 2,544 | 376 | 971 | 834 | — | 4,725 | |||||||||||||||||||||||||||||||||||||||||||
(Decrease) Increase in FDIC loss share receivable | 734 | 609 | (2,911 | ) | 2,721 | — | 1,153 | ||||||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (1,874 | ) | (1,162 | ) | (648 | ) | (1,487 | ) | — | (5,171 | ) | ||||||||||||||||||||||||||||||||||||||
Loans charged off | (9,578 | ) | (2,192 | ) | (90 | ) | (963 | ) | — | (12,823 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 38 | — | — | — | — | 38 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 30,636 | $ | 3,011 | $ | 8,211 | $ | 17,239 | $ | — | $ | 59,097 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 30,636 | 3,011 | 8,211 | 17,239 | — | 59,097 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 247,156 | $ | 34,234 | $ | 130,976 | $ | 111,823 | $ | — | $ | 524,189 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 247,156 | 34,234 | 130,976 | 111,823 | — | 524,189 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 4,678 | 620 | 24,304 | 16,699 | — | 46,301 | |||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | real estate | business | Mortgage | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 100,871 | $ | 11,375 | $ | 22,566 | $ | 33,764 | $ | — | $ | 168,576 | |||||||||||||||||||||||||||||||||||||
(Reversal of) Provision for loan losses | 27 | — | (1 | ) | (1 | ) | — | 25 | |||||||||||||||||||||||||||||||||||||||||
(Decrease) Increase in FDIC loss share receivable | (30,853 | ) | (3,137 | ) | (5,734 | ) | (18,841 | ) | — | (58,565 | ) | ||||||||||||||||||||||||||||||||||||||
Transfer of balance to OREO | (22,375 | ) | (314 | ) | (6,614 | ) | 1 | — | (29,302 | ) | |||||||||||||||||||||||||||||||||||||||
Loans charged off | (1,683 | ) | — | — | — | — | (1,683 | ) | |||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 45,987 | $ | 7,924 | $ | 10,217 | $ | 14,923 | $ | — | $ | 79,051 | |||||||||||||||||||||||||||||||||||||
Allowance on loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Allowance on loans collectively evaluated for impairment | 45,987 | 7,924 | 10,217 | 14,923 | — | 79,051 | |||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income: | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 459,506 | $ | 40,422 | $ | 153,515 | $ | 153,559 | $ | — | $ | 807,002 | |||||||||||||||||||||||||||||||||||||
Balance at end of period individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period collectively evaluated for impairment | 459,506 | 40,422 | 153,515 | 153,559 | — | 807,002 | |||||||||||||||||||||||||||||||||||||||||||
Balance at end of period acquired with deteriorated credit quality | 23,751 | — | 28,333 | 26,400 | — | 78,484 | |||||||||||||||||||||||||||||||||||||||||||
Investment in Covered Loans and Non-Covered Loans by Credit Quality Indicator | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality information in the tables below includes loans acquired at the gross loan balance, prior to the application of premiums/discounts, at September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Special | Special | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Mention | Substandard | Doubtful | Total | Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 624,592 | $ | 249 | $ | 11,153 | $ | — | $ | 635,994 | $ | 370,824 | $ | 9,309 | $ | 2,962 | $ | — | $ | 383,095 | |||||||||||||||||||||||||||||
Commercial real estate—other | 2,817,777 | 46,718 | 26,700 | 423 | 2,891,618 | 2,694,161 | 27,227 | 30,308 | 113 | 2,751,809 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 3,047,885 | 23,093 | 20,921 | 1,974 | 3,093,873 | 2,866,794 | 6,164 | 32,167 | 926 | 2,906,051 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 6,490,254 | $ | 70,060 | $ | 58,774 | $ | 2,397 | $ | 6,621,485 | $ | 5,931,779 | $ | 42,700 | $ | 65,437 | $ | 1,039 | $ | 6,040,955 | |||||||||||||||||||||||||||||
Non-covered loans excluding acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||||||||
30+ Days | 30+ Days | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | Past Due | Total | Current | Past Due | Total | |||||||||||||||||||||||||||||||||||||||||||
Residential prime | $ | 362,513 | $ | 14,181 | $ | 376,694 | $ | 286,167 | $ | 11,640 | $ | 297,807 | |||||||||||||||||||||||||||||||||||||
Residential subprime | 114,182 | 6,199 | 120,381 | 114,939 | 1,626 | 116,565 | |||||||||||||||||||||||||||||||||||||||||||
Home equity | 1,220,704 | 9,294 | 1,229,998 | 1,091,894 | 9,333 | 1,101,227 | |||||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 390,413 | 3,665 | 394,078 | 370,388 | 2,995 | 373,383 | |||||||||||||||||||||||||||||||||||||||||||
Credit card | 67,472 | 1,259 | 68,731 | 62,873 | 769 | 63,642 | |||||||||||||||||||||||||||||||||||||||||||
Consumer—other | 367,102 | 1,473 | 368,575 | 293,693 | 1,049 | 294,742 | |||||||||||||||||||||||||||||||||||||||||||
Total | $ | 2,522,386 | $ | 36,071 | $ | 2,558,457 | $ | 2,219,954 | $ | 27,412 | $ | 2,247,366 | |||||||||||||||||||||||||||||||||||||
Schedule of Investment in Legacy Impaired Loan | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Information on the Company’s investment in legacy impaired loans is presented in the following tables as of and for the periods indicated. | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Unpaid | Unpaid | ||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Principal | Related | ||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Investment | Balance | Allowance | Investment | Balance | Allowance | |||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 6,990 | $ | 6,990 | $ | — | $ | 8,567 | $ | 8,567 | $ | — | |||||||||||||||||||||||||||||||||||||
Commercial business | 3,276 | 3,276 | — | 13,256 | 13,256 | — | |||||||||||||||||||||||||||||||||||||||||||
Home equity | 689 | 689 | — | 258 | 258 | — | |||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 1,450 | 1,483 | (33 | ) | 1,268 | 1,284 | (16 | ) | |||||||||||||||||||||||||||||||||||||||||
Commercial business | 186 | 188 | (2 | ) | 1,927 | 2,770 | (843 | ) | |||||||||||||||||||||||||||||||||||||||||
Residential prime | 10,746 | 10,973 | (227 | ) | 9,791 | 10,019 | (228 | ) | |||||||||||||||||||||||||||||||||||||||||
Residential subprime | 6,169 | 6,197 | (28 | ) | 1,617 | 1,626 | (9 | ) | |||||||||||||||||||||||||||||||||||||||||
Home equity | 7,017 | 7,064 | (47 | ) | 6,506 | 6,550 | (44 | ) | |||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 1,330 | 1,338 | (8 | ) | 1,267 | 1,275 | (8 | ) | |||||||||||||||||||||||||||||||||||||||||
Credit card | 968 | 987 | (19 | ) | 404 | 411 | (7 | ) | |||||||||||||||||||||||||||||||||||||||||
Other | 429 | 433 | (4 | ) | 481 | 485 | (4 | ) | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 39,250 | $ | 39,618 | $ | (368 | ) | $ | 45,342 | $ | 46,501 | (1,159 | ) | ||||||||||||||||||||||||||||||||||||
Total commercial loans | 11,902 | 11,937 | (35 | ) | 25,018 | 25,877 | (859 | ) | |||||||||||||||||||||||||||||||||||||||||
Total mortgage loans | 16,915 | 17,170 | (255 | ) | 11,408 | 11,645 | (237 | ) | |||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 10,433 | 10,511 | (78 | ) | 8,916 | 8,979 | (63 | ) | |||||||||||||||||||||||||||||||||||||||||
For the Three Months Ended September 30 | For the Nine Months Ended September 30 | ||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | Average | Interest | Average | Interest | ||||||||||||||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Investment | Recognized | Investment | Recognized | Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 7,026 | $ | 6 | $ | 10,703 | $ | 6 | $ | 7,114 | $ | 20 | $ | 12,787 | $ | 22 | |||||||||||||||||||||||||||||||||
Commercial business | 3,553 | 11 | 13,218 | 17 | 4,417 | 48 | 8,608 | 59 | |||||||||||||||||||||||||||||||||||||||||
Home equity | 692 | — | 265 | — | 700 | 14 | 287 | — | |||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 1,631 | — | 4,346 | — | 1,533 | 91 | 6,092 | 5 | |||||||||||||||||||||||||||||||||||||||||
Commercial business | 312 | — | 2,739 | — | 584 | 9 | 2,746 | 3 | |||||||||||||||||||||||||||||||||||||||||
Residential prime | 11,077 | — | 9,650 | — | 10,226 | 119 | 9,380 | 7 | |||||||||||||||||||||||||||||||||||||||||
Residential subprime | 6,228 | — | — | — | 6,115 | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Home equity | 7,177 | 5 | 7,244 | — | 7,404 | 40 | 7,458 | 14 | |||||||||||||||||||||||||||||||||||||||||
Indirect automobile | 1,544 | — | 1,349 | — | 1,720 | 27 | 1,610 | 22 | |||||||||||||||||||||||||||||||||||||||||
Credit card | 1,051 | — | 424 | — | 724 | — | 426 | — | |||||||||||||||||||||||||||||||||||||||||
Other | 470 | — | 372 | — | 489 | 11 | 446 | 4 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 40,761 | $ | 22 | $ | 50,310 | $ | 23 | $ | 41,026 | $ | 379 | $ | 49,840 | $ | 136 | |||||||||||||||||||||||||||||||||
Total commercial loans | 12,522 | 17 | 31,006 | 23 | 13,648 | 168 | 30,233 | 89 | |||||||||||||||||||||||||||||||||||||||||
Total mortgage loans | 17,305 | — | 9,650 | — | 16,341 | 119 | 9,380 | 7 | |||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 10,934 | 5 | 9,654 | — | 11,037 | 92 | 10,227 | 40 | |||||||||||||||||||||||||||||||||||||||||
Covered Loans [Member] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment in Covered Loans and Non-Covered Loans by Credit Quality Indicator | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Special | Special | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Mention | Substandard | Doubtful | Discount | Total | Pass | Mention | Substandard | Doubtful | Discount | Total | |||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 30,675 | $ | 3,671 | $ | 4,989 | $ | — | $ | (2,061 | ) | $ | 37,274 | $ | 17,132 | $ | 196 | $ | 5,435 | $ | — | $ | (2,532 | ) | $ | 20,231 | |||||||||||||||||||||||
Commercial real estate—other | 456,790 | 11,065 | 42,027 | 178 | (42,527 | ) | 467,533 | 310,303 | 15,351 | 51,267 | 93 | (52,176 | ) | 324,838 | |||||||||||||||||||||||||||||||||||
Commercial business | 97,383 | 2,203 | 4,571 | 212 | (5,144 | ) | 99,225 | 51,414 | 1,920 | 2,586 | 31 | (2,914 | ) | 53,037 | |||||||||||||||||||||||||||||||||||
Total | $ | 584,848 | $ | 16,939 | $ | 51,587 | $ | 390 | $ | (49,732 | ) | $ | 604,032 | $ | 378,849 | $ | 17,467 | $ | 59,288 | $ | 124 | $ | (57,622 | ) | $ | 398,106 | |||||||||||||||||||||||
Non-covered acquired loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
30+ Days | Premium | 30+ Days | Premium | ||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | Past Due | (discount) | Total | Current | Past Due | (discount) | Total | |||||||||||||||||||||||||||||||||||||||||
Residential prime | $ | 432,837 | $ | 8,444 | $ | 631 | $ | 441,912 | $ | 18,796 | $ | 226 | $ | (887 | ) | $ | 18,135 | ||||||||||||||||||||||||||||||||
Home equity | 228,051 | 10,821 | (10,803 | ) | 228,069 | 53,995 | 5,071 | (5,623 | ) | 53,443 | |||||||||||||||||||||||||||||||||||||||
Indirect automobile | 606 | 51 | (44 | ) | 613 | 1,725 | 128 | — | 1,853 | ||||||||||||||||||||||||||||||||||||||||
Consumer—other | 109,599 | 2,395 | (11,552 | ) | 100,442 | 12,598 | 1,251 | (1,481 | ) | 12,368 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 771,093 | $ | 21,711 | $ | (21,768 | ) | $ | 771,036 | $ | 87,114 | $ | 6,676 | $ | (7,991 | ) | $ | 85,799 | |||||||||||||||||||||||||||||||
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 indicated, as adjusted for income accretion and changes in cash flow estimates in subsequent periods. | |||||||||||||||||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||||||||
Special | Special | ||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Mention | Substandard | Doubtful | Total | Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | $ | 40,754 | $ | 1,822 | $ | 9,285 | $ | — | $ | 51,861 | $ | 42,886 | $ | 7,401 | $ | 23,891 | $ | 497 | $ | 74,675 | |||||||||||||||||||||||||||||
Commercial real estate—other | 113,309 | 22,277 | 75,353 | — | 210,939 | 148,579 | 49,699 | 144,680 | 3,267 | 346,225 | |||||||||||||||||||||||||||||||||||||||
Commercial business | 26,087 | 887 | 8,814 | 46 | 35,834 | 30,710 | 780 | 14,556 | 984 | 47,030 | |||||||||||||||||||||||||||||||||||||||
$ | 180,150 | $ | 24,986 | $ | 93,452 | $ | 46 | $ | 298,634 | $ | 222,175 | $ | 57,880 | $ | 183,127 | $ | 4,748 | $ | 467,930 | ||||||||||||||||||||||||||||||
Discount | (17,244 | ) | (43,573 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 281,390 | $ | 424,357 | |||||||||||||||||||||||||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||
30+ Days | Premium | 30+ Days | Premium | ||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | Past Due | (discount) | Total | Current | Past Due | (discount) | Total | |||||||||||||||||||||||||||||||||||||||||
Residential prime | $ | 143,529 | $ | 23,993 | $ | (36,546 | ) | $ | 130,976 | $ | 158,710 | $ | 30,814 | $ | (35,499 | ) | $ | 154,025 | |||||||||||||||||||||||||||||||
Home equity | 115,813 | 19,403 | (27,405 | ) | 107,811 | 143,236 | 35,811 | (41,925 | ) | 137,122 | |||||||||||||||||||||||||||||||||||||||
Credit card | 588 | 33 | — | 621 | 648 | 31 | — | 679 | |||||||||||||||||||||||||||||||||||||||||
Consumer—other | 498 | 23 | 2,870 | 3,391 | 591 | 144 | 2,875 | 3,610 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 260,428 | $ | 43,452 | $ | (61,081 | ) | $ | 242,799 | $ | 303,185 | $ | 66,800 | $ | (74,549 | ) | $ | 295,436 |
Loss_Sharing_Agreements_and_FD1
Loss Sharing Agreements and FDIC Loss Share Receivable (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Text Block [Abstract] | ' | ||||||||
Schedule of FDIC Loss Share Receivables | ' | ||||||||
The following is a summary of FDIC loss share receivables year-to-date activity: | |||||||||
Nine Months Ended | |||||||||
September 30 | |||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||
Balance at beginning of period | $ | 162,312 | $ | 423,069 | |||||
Change due to (reversal of) loan loss provision recorded on FDIC covered loans | 1,153 | (58,565 | ) | ||||||
Amortization | (61,393 | ) | (68,707 | ) | |||||
Submission of reimbursable losses to (recoveries payable to) the FDIC | 4,901 | (44,910 | ) | ||||||
Impairment | (5,097 | ) | (31,813 | ) | |||||
Changes due to a change in cash flow assumptions on OREO and other changes | (7,164 | ) | (14,189 | ) | |||||
Balance at end of period | $ | 94,712 | $ | 204,885 |
Transfers_and_Servicing_of_Fin1
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Transfers and Servicing [Abstract] | ' | ||||||||
Components of Mortgage Banking Activity | ' | ||||||||
The following table details the mortgage banking activity as of and for the nine months ended September 30: | |||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||
Balance at beginning of period | $ | 128,442 | $ | 267,475 | |||||
Originations and purchases | 1,218,684 | 1,712,557 | |||||||
Sales, net of gains | (1,193,282 | ) | (1,871,747 | ) | |||||
Other | (5,314 | ) | — | ||||||
Balance at end of period | $ | 148,530 | $ | 108,285 | |||||
(Dollars in thousands) | 2014 | 2013 | |||||||
Fair value changes of derivatives and mortgage loans held for sale, net | $ | (1,081 | ) | $ | (270 | ) | |||
Gains on sales | 41,412 | 51,709 | |||||||
Servicing and other income, net | 572 | 402 | |||||||
Total mortgage income | $ | 40,903 | $ | 51,841 |
Goodwill_and_Other_Acquired_In1
Goodwill and Other Acquired Intangible Assets (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Schedule of Definite-Lived Intangible Assets | ' | ||||||||||||||||||||||||
Definite-lived intangible assets had the following carrying values included in Other assets on the Company’s consolidated balance sheet as of the periods indicated: | |||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
Carrying | Carrying | Carrying | Carrying | ||||||||||||||||||||||
(Dollars in thousands) | Amount | Amortization | Amount | Amount | Amortization | Amount | |||||||||||||||||||
Core deposit intangibles | $ | 50,564 | $ | (34,564 | ) | $ | 16,000 | $ | 45,406 | $ | (30,784 | ) | $ | 14,622 | |||||||||||
Customer relationship intangible asset | 1,348 | (777 | ) | 571 | 1,348 | (631 | ) | 717 | |||||||||||||||||
Non-compete agreement | 163 | (53 | ) | 110 | — | — | — | ||||||||||||||||||
Other intangible assets | 205 | (29 | ) | 176 | — | — | — | ||||||||||||||||||
Total | $ | 52,280 | $ | (35,423 | ) | $ | 16,857 | $ | 46,754 | $ | (31,415 | ) | $ | 15,339 | |||||||||||
Schedule of Carrying Amount of Goodwill | ' | ||||||||||||||||||||||||
Changes to the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2014 and the year ended December 31, 2013 are provided in the following table. | |||||||||||||||||||||||||
(Dollars in thousands) | IBERIABANK | IMC | LTC | Total | |||||||||||||||||||||
Balance, December 31, 2012 | $ | 373,905 | $ | 23,178 | $ | 4,789 | $ | 401,872 | |||||||||||||||||
Goodwill acquired during the year | — | — | — | — | |||||||||||||||||||||
Balance, December 31, 2013 | 373,905 | $ | 23,178 | $ | 4,789 | 401,872 | |||||||||||||||||||
Goodwill acquired during the period | 123,995 | — | 375 | 124,370 | |||||||||||||||||||||
Balance, September 30, 2014 | $ | 497,900 | $ | 23,178 | $ | 5,164 | $ | 526,242 | |||||||||||||||||
Mortgage Servicing Rights [Member] | ' | ||||||||||||||||||||||||
Schedule of Definite-Lived Intangible Assets | ' | ||||||||||||||||||||||||
Mortgage servicing rights had the following carrying values as of the periods indicated: | |||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | Gross Carrying | Accumulated | Net Carrying | ||||||||||||||||||||
(Dollars in thousands) | Amount | Amortization | Amount | Amount | Amortization | Amount | |||||||||||||||||||
Mortgage servicing rights | $ | 2,787 | $ | (1,020 | ) | $ | 1,767 | $ | 2,146 | $ | (638 | ) | $ | 1,508 |
Other_Real_Estate_Owned_Tables
Other Real Estate Owned (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Banking and Thrift [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Other Real Estate Owned Segregated Into Non-Covered and Covered Properties | ' | ||||||||||||||||||||||||
Other real estate owned is included in Other assets on the Company’s consolidated balance sheet. 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. | |||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
(Dollars in thousands) | Non-covered | Covered(1) | Total | Non-covered | Covered | Total | |||||||||||||||||||
Real estate owned acquired by foreclosure | $ | 18,627 | $ | 30,991 | $ | 49,618 | $ | 28,072 | $ | 60,474 | $ | 88,546 | |||||||||||||
Real estate acquired for development or resale | 12,734 | — | 12,734 | 9,206 | — | 9,206 | |||||||||||||||||||
Other foreclosed property | 63 | 971 | 1,034 | 93 | 1,328 | 1,421 | |||||||||||||||||||
Total | $ | 31,424 | $ | 31,962 | $ | 63,386 | $ | 37,371 | $ | 61,802 | $ | 99,173 | |||||||||||||
(1) | Included in covered OREO at September 30, 2014 is $20.6 million that will lose loss share coverage within the next 12 months. |
Derivative_Instruments_and_Oth1
Derivative Instruments and Other Hedging Activities (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Outstanding Derivative Instruments | ' | ||||||||||||||||||||||||||||
Information pertaining to outstanding derivative instruments is as follows: | |||||||||||||||||||||||||||||
(Dollars in thousands) | Balance Sheet | Asset Derivatives Fair Value | Balance Sheet | Liability Derivatives Fair Value | |||||||||||||||||||||||||
Location | September 30, 2014 | December 31, 2013 | Location | September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC Topic 815: | |||||||||||||||||||||||||||||
Interest rate contracts | Other assets | $ | 11,839 | $ | 10,621 | Other liabilities | $ | 11,839 | $ | 10,620 | |||||||||||||||||||
Forward sales contracts | Other assets | 104 | 1,468 | Other liabilities | 2,215 | 287 | |||||||||||||||||||||||
Written and purchased options | Other assets | 20,347 | 17,987 | Other liabilities | 15,786 | 15,828 | |||||||||||||||||||||||
Total derivatives not designated as hedging instruments under ASC Topic 815 | 32,290 | 30,076 | 29,840 | 26,735 | |||||||||||||||||||||||||
Total | $ | 32,290 | $ | 30,076 | $ | 29,840 | $ | 26,735 | |||||||||||||||||||||
(Dollars in thousands) | Asset Derivatives Notional Amount | Liability Derivatives Notional Amount | |||||||||||||||||||||||||||
30-Sep-14 | 31-Dec-13 | 30-Sep-14 | 31-Dec-13 | ||||||||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC Topic 815: | |||||||||||||||||||||||||||||
Interest rate contracts | $ | 421,523 | $ | 380,303 | $ | 421,523 | $ | 380,303 | |||||||||||||||||||||
Forward sales contracts | 88,190 | 192,876 | 351,861 | 45,091 | |||||||||||||||||||||||||
Written and purchased options | 363,239 | 295,425 | 197,044 | 199,061 | |||||||||||||||||||||||||
Total derivatives not designated as hedging instruments under ASC Topic 815 | 872,952 | 868,604 | 970,428 | 624,455 | |||||||||||||||||||||||||
Total | $ | 872,952 | $ | 868,604 | $ | 970,428 | $ | 624,455 | |||||||||||||||||||||
Reconciliation of Gross Amounts in Consolidated Balance Sheets | ' | ||||||||||||||||||||||||||||
The following table reconciles the gross amounts presented in the consolidated balance sheets to the net amounts that would result in the event of offset. | |||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||
(Dollars in thousands) | Gross Amounts | Gross Amounts Not Offset | |||||||||||||||||||||||||||
Presented in the | in the Balance Sheet | ||||||||||||||||||||||||||||
Balance Sheet | Derivatives | Collateral (1) | Net | ||||||||||||||||||||||||||
Derivatives subject to master netting arrangements | |||||||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 11,839 | — | — | 11,839 | |||||||||||||||||||||||||
Written and purchased options | 15,423 | — | — | 15,423 | |||||||||||||||||||||||||
Total derivative assets subject to master netting arrangements | $ | 27,262 | $ | — | $ | — | $ | 27,262 | |||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||
Interest rate contracts not designated as hedging instruments | 11,839 | — | (3,892 | ) | 7,947 | ||||||||||||||||||||||||
Total derivative liabilities subject to master netting arrangements | $ | 11,839 | $ | — | $ | (3,892 | ) | $ | 7,947 | ||||||||||||||||||||
-1 | Consists of cash collateral recorded at cost, which approximates fair value, and investment securities. | ||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
(Dollars in thousands) | Gross Amounts | Gross Amounts Not Offset | |||||||||||||||||||||||||||
Presented in the | in the Balance Sheet | ||||||||||||||||||||||||||||
Balance Sheet | Derivatives | Collateral (1) | Net | ||||||||||||||||||||||||||
Derivatives subject to master netting arrangements | |||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||
Effect of Hedging Instruments on Consolidated Financial Statements | ' | ||||||||||||||||||||||||||||
At September 30, 2014 and 2013, and for the three and nine months then ended, information pertaining to the effect of the hedging instruments on the consolidated financial statements is as follows: | |||||||||||||||||||||||||||||
(Dollars in thousands) | Amount of Gain (Loss) | Location of Gain | Amount of | Location of | Amount of Gain (Loss) | ||||||||||||||||||||||||
Recognized | (Loss) | Gain (Loss) | Gain (Loss) | Recognized in Income | |||||||||||||||||||||||||
in OCI net of taxes | Reclassified | Reclassified | Recognized | on Derivative (Ineffective | |||||||||||||||||||||||||
(Effective Portion) | from | from | in Income on | Portion and Amount | |||||||||||||||||||||||||
Accumulated | Accumulated | Derivative | Excluded from | ||||||||||||||||||||||||||
OCI into Income | OCI into | (Ineffective | Effectiveness Testing) | ||||||||||||||||||||||||||
(Effective | Income | Portion and | |||||||||||||||||||||||||||
Portion) | (Effective | Amount | |||||||||||||||||||||||||||
Portion) | Excluded from | ||||||||||||||||||||||||||||
Effectiveness | |||||||||||||||||||||||||||||
Testing | |||||||||||||||||||||||||||||
As of September 30 | For the Three Months Ended September 30 | ||||||||||||||||||||||||||||
Derivatives in ASC Topic 815 Cash | |||||||||||||||||||||||||||||
Flow Hedging Relationships | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||
Interest rate contracts | $ | — | $ | — | Other income | $ | — | $ | — | Other income | $ | — | $ | — | |||||||||||||||
(expense) | (expense) | ||||||||||||||||||||||||||||
Total | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Location of Gain | Amount of Gain | ||||||||||||||||||||||||||||
(Loss) | |||||||||||||||||||||||||||||
Recognized in | (Loss) | ||||||||||||||||||||||||||||
Income on | Recognized in | ||||||||||||||||||||||||||||
Location of Gain | Amount of Gain | Derivative (Ineffective | Income on | ||||||||||||||||||||||||||
Amount of Gain (Loss) | (Loss) Reclassified | (Loss) Reclassified | Portion and Amount | Derivative (Ineffective | |||||||||||||||||||||||||
Recognized in OCI net of | from Accumulated | from Accumulated OCI | Excluded from | Portion and Amount | |||||||||||||||||||||||||
taxes (Effective | OCI into Income | into Income | Effectiveness | Excluded from | |||||||||||||||||||||||||
Portion) | (Effective Portion) | (Effective Portion) | Testing | Effectiveness Testing) | |||||||||||||||||||||||||
As of September 30 | For the Nine Months Ended September 30 | ||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
$ — | $ | — | Other income | $ | — | $ | (392 | ) | Other income | $ | (1 | ) | $ | — | |||||||||||||||
(expense | ) | (expense | ) | ||||||||||||||||||||||||||
$ — | $ | — | $ | — | $ | (392 | ) | $ | (1 | ) | $ | — | |||||||||||||||||
(Dollars in thousands) | Amount of Gain (Loss) Recognized in Income on Derivatives | ||||||||||||||||||||||||||||
Derivatives Not Designated as | Location of Gain (Loss) | ||||||||||||||||||||||||||||
Hedging Instruments under ASC | Recognized in Income on | For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||||
Topic 815 | Derivatives | September 30 | September 30 | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Interest rate contracts | Other income (expense) | $ | 406 | $ | 2,061 | 1,971 | 2,542 | ||||||||||||||||||||||
Forward sales contracts | Mortgage Income | (3,648 | ) | 3,290 | (7,512 | ) | 897 | ||||||||||||||||||||||
Written and purchased options | Mortgage Income | 773 | (7,896 | ) | 2,401 | (3,820 | ) | ||||||||||||||||||||||
Total | $ | (2,469 | ) | $ | (2,545 | ) | $ | (3,140 | ) | $ | (381 | ) |
Shareholders_Equity_and_Other_1
Shareholders' Equity and Other Comprehensive Income (Loss) (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Summary of Tax Effects of Each Component of Other Comprehensive Income | ' | ||||||||||||
The following is a summary of the tax effects of each component of other comprehensive income for the periods indicated: | |||||||||||||
Three Months Ended | |||||||||||||
30-Sep-14 | |||||||||||||
Before | Tax Expense | Net-of-Tax | |||||||||||
(Dollars in thousands) | Tax | (Benefit) | Amount | ||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding losses arising during the period | $ | (7,032 | ) | $ | 2,461 | $ | (4,571 | ) | |||||
Less: reclassification adjustment for gains included in net income | (582 | ) | 204 | (378 | ) | ||||||||
Net unrealized losses | (7,614 | ) | 2,665 | (4,949 | ) | ||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | — | $ | — | $ | — | |||||||
Less: reclassification adjustment for losses (gains) included in net income | — | — | — | ||||||||||
Fair value of derivative instruments designated as cash flow hedges | — | — | — | ||||||||||
Total other comprehensive loss | $ | (7,614 | ) | $ | 2,665 | $ | (4,949 | ) | |||||
Three Months Ended | |||||||||||||
30-Sep-13 | |||||||||||||
Before | Tax Expense | Net-of-Tax | |||||||||||
(Dollars in thousands) | Tax | (Benefit) | Amount | ||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding gains arising during the period | $ | 5,528 | $ | (1,935 | ) | $ | 3,593 | ||||||
Less: reclassification adjustment for losses included in net income | 3 | (1 | ) | 2 | |||||||||
Net unrealized losses | 5,531 | (1,936 | ) | 3,595 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | — | $ | — | $ | — | |||||||
Less: reclassification adjustment for gains included in net income | — | — | — | ||||||||||
Fair value of derivative instruments designated as cash flow hedges | — | — | — | ||||||||||
Total other comprehensive income | $ | 5,531 | $ | (1,936 | ) | $ | 3,595 | ||||||
Nine Months Ended | |||||||||||||
30-Sep-14 | |||||||||||||
Before | Tax Expense | Net-of-Tax | |||||||||||
(Dollars in thousands) | Tax | (Benefit) | Amount | ||||||||||
Unrealized loss on securities: | |||||||||||||
Unrealized holding gains arising during the period | $ | 25,586 | $ | (8,955 | ) | $ | 16,631 | ||||||
Less: reclassification adjustment for gains included in net income | (609 | ) | 213 | (396 | ) | ||||||||
Net unrealized gains | 24,977 | (8,742 | ) | 16,235 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | — | $ | — | $ | — | |||||||
Less: reclassification adjustment for losses (gains) included in net income | — | — | — | ||||||||||
Fair value of derivative instruments designated as cash flow hedges | — | — | — | ||||||||||
Total other comprehensive income | $ | 24,977 | $ | (8,742 | ) | $ | 16,235 | ||||||
Nine Months Ended | |||||||||||||
30-Sep-13 | |||||||||||||
Before | Tax Expense | Net-of-Tax | |||||||||||
(Dollars in thousands) | Tax | (Benefit) | Amount | ||||||||||
Unrealized gain on securities: | |||||||||||||
Unrealized holding losses arising during the period | $ | (38,769 | ) | $ | 13,569 | $ | (25,200 | ) | |||||
Less: reclassification adjustment for gains included in net income | (2,259 | ) | 791 | (1,468 | ) | ||||||||
Net unrealized losses | (41,028 | ) | 14,360 | (26,668 | ) | ||||||||
Fair value of derivative instruments designated as cash flow hedges | |||||||||||||
Change in fair value of derivative instruments designated as cash flow hedges during the period | $ | 952 | $ | (333 | ) | $ | 619 | ||||||
Less: reclassification adjustment for losses included in net income | 392 | (137 | ) | 255 | |||||||||
Fair value of derivative instruments designated as cash flow hedges | 1,344 | (470 | ) | 874 | |||||||||
Total other comprehensive loss | $ | (39,684 | ) | $ | 13,890 | $ | (25,794 | ) |
Capital_Requirements_and_Other1
Capital Requirements and Other Regulatory Matters (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Banking and Thrift [Abstract] | ' | ||||||||||||||||||||||||
Actual Capital Amounts and Ratios | ' | ||||||||||||||||||||||||
The Company’s and IBERIABANK’s actual capital amounts and ratios as of September 30, 2014 and December 31, 2013 are presented in the following table. | |||||||||||||||||||||||||
(Dollars in thousands) | September 30, 2014 | ||||||||||||||||||||||||
Minimum | Well Capitalized | Actual | |||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
Tier 1 Leverage | |||||||||||||||||||||||||
Consolidated | $ | 596,945 | 4 | % | $ | N/A | N/A | % | $ | 1,376,283 | 9.22 | % | |||||||||||||
IBERIABANK | 594,578 | 4 | 743,223 | 5 | 1,225,980 | 8.25 | |||||||||||||||||||
Tier 1 risk-based capital | |||||||||||||||||||||||||
Consolidated | 490,391 | 4 | % | $ | N/A | N/A | % | $ | 1,376,283 | 11.23 | % | ||||||||||||||
IBERIABANK | 489,049 | 4 | 733,574 | 6 | 1,225,980 | 10.03 | |||||||||||||||||||
Total risk-based capital | |||||||||||||||||||||||||
Consolidated | 980,781 | 8 | % | $ | N/A | N/A | % | $ | 1,522,932 | 12.42 | % | ||||||||||||||
IBERIABANK | 978,099 | 8 | 1,222,624 | 10 | 1,372,629 | 11.23 | |||||||||||||||||||
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 |
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Compensation Expense Included in Non-Interest 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 three-month and nine-month periods ended September 30: | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands, except per share data) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Compensation expense related to stock options | $ | 508 | $ | 526 | $ | 1,545 | $ | 1,592 | |||||||||
Income tax benefit related to stock options | 178 | 184 | 541 | 557 | |||||||||||||
Impact on basic earnings per share | 0.01 | 0.01 | 0.03 | 0.03 | |||||||||||||
Impact on diluted earnings per share | 0.01 | 0.01 | 0.03 | 0.03 | |||||||||||||
Estimate Fair Value of Share-Based Awards with Weighted-Average Assumptions | ' | ||||||||||||||||
The Company uses the Black-Scholes option pricing model to estimate the fair value of share-based awards. The following weighted-average assumptions were used for option awards outstanding during the nine-month periods ended September 30: | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Expected dividends | 2.1 | % | 2.6 | % | |||||||||||||
Expected volatility | 35.8 | % | 34.8 | % | |||||||||||||
Risk-free interest rate | 2.3 | % | 1.7 | % | |||||||||||||
Expected term (in years) | 7.5 | 8.6 | |||||||||||||||
Weighted-average grant-date fair value | $ | 21.25 | $ | 15.37 | |||||||||||||
Activity Related to Stock Options | ' | ||||||||||||||||
The following table represents the activity related to stock options during the periods indicated. | |||||||||||||||||
Weighted Average | Weighted Average | ||||||||||||||||
Number of shares | Exercise Price | Remaining Contract Life | |||||||||||||||
Outstanding options, December 31, 2012 | 1,236,075 | $ | 51.48 | ||||||||||||||
Granted | 75,722 | 52.36 | |||||||||||||||
Exercised | (142,841 | ) | 38.09 | ||||||||||||||
Forfeited or expired | (36,608 | ) | 56.01 | ||||||||||||||
Outstanding options, September 30, 2013 | 1,132,348 | $ | 53.09 | 4.7 Years | |||||||||||||
Exercisable options, September 30, 2013 | 749,545 | 52.94 | 3.2 Years | ||||||||||||||
Outstanding options, December 31, 2013 | 1,072,829 | $ | 53.47 | ||||||||||||||
Granted | 77,098 | 65.3 | |||||||||||||||
Exercised | (234,363 | ) | 48.36 | ||||||||||||||
Forfeited or expired | (13,446 | ) | 60.82 | ||||||||||||||
Outstanding options, September 30, 2014 | 902,118 | $ | 55.7 | 5.2 Years | |||||||||||||
Exercisable options, September 30, 2014 | 581,423 | 55.65 | 3.8 Years | ||||||||||||||
Unvested Restricted Stock Award Activity | ' | ||||||||||||||||
The following table represents unvested restricted stock award activity for the nine months ended September 30: | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Balance at beginning of period | 523,756 | 538,202 | |||||||||||||||
Granted | 146,547 | 166,223 | |||||||||||||||
Forfeited | (18,171 | ) | (27,483 | ) | |||||||||||||
Earned and issued | (152,112 | ) | (136,629 | ) | |||||||||||||
Balance at end of period | 500,020 | 540,313 | |||||||||||||||
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, 2012 | 318,729 | 16,035 | 334,764 | $ | 16,444,000 | ||||||||||||
Granted | 166,664 | 8,793 | 175,457 | 9,108,000 | |||||||||||||
Forfeited share equivalents | (16,381 | ) | (681 | ) | (17,062 | ) | (886,000 | ) | |||||||||
Vested share equivalents | (45,065 | ) | (3,327 | ) | (48,392 | ) | (2,453,000 | ) | |||||||||
Balance, September 30, 2013 | 423,947 | 20,820 | 444,767 | $ | 23,088,000 | ||||||||||||
Balance, December 31, 2013 | 417,238 | 22,351 | 439,589 | $ | 27,628,000 | ||||||||||||
Granted | 115,620 | 7,147 | 122,767 | 7,674,000 | |||||||||||||
Forfeited share equivalents | (19,498 | ) | (1,751 | ) | (21,249 | ) | (1,328,000 | ) | |||||||||
Vested share equivalents | (68,480 | ) | (6,615 | ) | (75,095 | ) | (5,002,000 | ) | |||||||||
Balance, September 30, 2014 | 444,880 | 21,132 | 466,012 | $ | 29,130,000 | ||||||||||||
(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 $62.51 and $51.91 on September 30, 2014 and 2013, respectively. | ||||||||||||||||
Restricted Stock [Member] | ' | ||||||||||||||||
Compensation Expense Included in Non-Interest Expense and Related Income Tax Benefits | ' | ||||||||||||||||
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 Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Compensation expense related to restricted stock | $ | 2,497 | $ | 2,212 | $ | 7,382 | $ | 6,407 | |||||||||
Phantom Stock Awards [Member] | ' | ||||||||||||||||
Compensation Expense Included in Non-Interest 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 Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30 | September 30 | ||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Compensation expense related to phantom stock | $ | 619 | $ | 792 | $ | 3,692 | $ | 2,602 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Summary of Financial Instruments Outstanding | ' | ||||||||
At September 30, 2014 and December 31, 2013, the Company had the following financial instruments outstanding, whose contract amounts represent credit risk: | |||||||||
(Dollars in thousands) | September 30 | December 31 | |||||||
2014 | 2013 | ||||||||
Commitments to grant loans | $ | 242,137 | $ | 221,627 | |||||
Unfunded commitments under lines of credit | 3,834,107 | 3,326,448 | |||||||
Commercial and standby letters of credit | 131,347 | 105,026 | |||||||
Reserve for unfunded lending commitments | 12,099 | 11,147 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
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: | |||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
(Dollars in thousands) | Aggregate | Aggregate | Aggregate | Aggregate | Aggregate | Aggregate | |||||||||||||||||||
Fair Value | Unpaid | Fair Value | Fair Value | Unpaid | Fair Value | ||||||||||||||||||||
Principal | Less Unpaid | Principal | Less Unpaid | ||||||||||||||||||||||
Principal | Principal | ||||||||||||||||||||||||
Mortgage loans held for sale, at fair value | $ | 148,530 | $ | 142,381 | $ | 6,149 | $ | 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) | September 30, 2014 | ||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Available for sale securities | $ | 46,261 | $ | 2,057,567 | $ | — | $ | 2,103,828 | |||||||||||||||||
Mortgage loans held for sale | — | 148,530 | — | 148,530 | |||||||||||||||||||||
Derivative instruments | — | 32,290 | — | 32,290 | |||||||||||||||||||||
Total | $ | 46,261 | $ | 2,238,387 | $ | — | $ | 2,284,648 | |||||||||||||||||
Liabilities | |||||||||||||||||||||||||
Derivative instruments | — | 29,840 | — | 29,840 | |||||||||||||||||||||
Total | $ | — | $ | 29,840 | $ | — | $ | 29,840 | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(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 | |||||||||||||||||
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 2014 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) | $ | (1,697 | ) | $ | — | ||||||||||||||||||||
Change in unrealized gains (losses) relating to assets still held at September 30, 2014 | — | 16,235 | |||||||||||||||||||||||
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 non-recurring 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) | September 30, 2014 | ||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Loans | $ | — | $ | 1,086 | $ | — | $ | 1,086 | |||||||||||||||||
OREO | — | 6,974 | — | 6,974 | |||||||||||||||||||||
Total | $ | — | $ | 8,060 | $ | — | $ | 8,060 | |||||||||||||||||
(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 | |||||||||||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Estimated Fair Values and Carrying Amounts of Financial Instruments | ' | ||||||||||||||||
The estimated fair values and carrying amounts of the Company’s financial instruments are as follows: | |||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
(Dollars in thousands) | Amount | Value | Amount | Value | |||||||||||||
Financial Assets | |||||||||||||||||
Cash and cash equivalents | $ | 668,007 | $ | 668,007 | $ | 391,396 | $ | 391,396 | |||||||||
Investment securities | 2,224,348 | 2,226,286 | 2,090,906 | 2,089,363 | |||||||||||||
Loans and loans held for sale | 11,227,729 | 11,247,080 | 9,620,461 | 9,724,432 | |||||||||||||
FDIC loss share receivable | 94,712 | 27,922 | 162,312 | 21,918 | |||||||||||||
Derivative instruments | 32,290 | 32,290 | 30,076 | 30,076 | |||||||||||||
Accrued interest receivable | 37,143 | 37,143 | 32,143 | 32,143 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | $ | 12,377,775 | $ | 11,986,233 | $ | 10,737,000 | $ | 10,226,573 | |||||||||
Short-term borrowings | 812,783 | 812,783 | 680,344 | 680,344 | |||||||||||||
Long-term debt | 355,569 | 324,282 | 280,699 | 235,503 | |||||||||||||
Derivative instruments | 29,840 | 29,840 | 26,735 | 26,735 | |||||||||||||
Accrued interest payable | 7,972 | 7,972 | 6,102 | 6,102 |
Business_Segments_Tables
Business Segments (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Schedule of Segment Reporting Information | ' | ||||||||||||||||
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 and based on the qualitative factors presented within ASC 280. The Company’s IMC and LTC segments do not meet the quantitative thresholds specified by ASC 280, but are reported because management believes information about those segments is useful to users of the financial statements. | |||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||
(Dollars in thousands) | IBERIABANK | IMC | LTC | Consolidated | |||||||||||||
Interest income | $ | 131,362 | $ | 1,804 | $ | 1 | $ | 133,167 | |||||||||
Interest expense | 11,501 | 625 | — | 12,126 | |||||||||||||
Net interest income | 119,861 | 1,179 | 1 | 121,041 | |||||||||||||
Provision for loan losses | 5,621 | 93 | — | 5,714 | |||||||||||||
Mortgage income | (5 | ) | 12,819 | — | 12,814 | ||||||||||||
Title income | — | — | 5,577 | 5,577 | |||||||||||||
Other non-interest income | 27,311 | (37 | ) | (2 | ) | 27,272 | |||||||||||
Core deposit intangible amortization | 1,429 | — | — | 1,429 | |||||||||||||
Allocated expenses | (2,386 | ) | 1,697 | 689 | — | ||||||||||||
Other non-interest expenses | 102,692 | 11,624 | 4,315 | 118,631 | |||||||||||||
Income before income taxes | 39,811 | 547 | 572 | 40,930 | |||||||||||||
Income tax expense | 10,739 | 217 | 230 | 11,186 | |||||||||||||
Net income | $ | 29,072 | $ | 330 | $ | 342 | $ | 29,744 | |||||||||
Total loans and loans held for sale | $ | 11,055,809 | $ | 171,920 | $ | — | $ | 11,227,729 | |||||||||
Total assets | 15,288,157 | 202,923 | 25,529 | 15,516,609 | |||||||||||||
Total deposits | 12,371,606 | 6,169 | — | 12,377,775 | |||||||||||||
Average assets | 15,239,174 | 213,936 | 25,296 | 15,478,406 | |||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||
(Dollars in thousands) | IBERIABANK | IMC | LTC | Consolidated | |||||||||||||
Interest income | $ | 107,051 | $ | 1,459 | $ | 2 | $ | 108,512 | |||||||||
Interest expense | 10,731 | 329 | — | 11,060 | |||||||||||||
Net interest income | 96,320 | 1,130 | 2 | 97,452 | |||||||||||||
Provision for loan losses | 1,868 | 146 | — | 2,014 | |||||||||||||
Mortgage income | 5 | 15,197 | — | 15,202 | |||||||||||||
Title income | — | — | 5,482 | 5,482 | |||||||||||||
Other non-interest income | 22,579 | — | — | 22,579 | |||||||||||||
Core deposit intangible amortization | 1,125 | — | — | 1,125 | |||||||||||||
Allocated expenses | (2,658 | ) | 1,933 | 725 | — | ||||||||||||
Other non-interest expenses | 90,858 | 12,016 | 4,153 | 107,027 | |||||||||||||
Income before income taxes | 27,711 | 2,232 | 606 | 30,549 | |||||||||||||
Income tax expense | 6,228 | 877 | 252 | 7,357 | |||||||||||||
Net income | $ | 21,483 | $ | 1,355 | $ | 354 | $ | 23,192 | |||||||||
Total loans and loans held for sale | $ | 9,024,959 | $ | 126,363 | $ | — | $ | 9,151,322 | |||||||||
Total assets | 12,965,373 | 153,402 | 26,302 | 13,145,077 | |||||||||||||
Total deposits | 10,946,453 | 4,311 | — | 10,950,764 | |||||||||||||
Average assets | 12,761,165 | 157,144 | 26,126 | 12,944,435 | |||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||
(Dollars in thousands) | IBERIABANK | IMC | LTC | Consolidated | |||||||||||||
Interest income | $ | 362,054 | $ | 4,563 | $ | 2 | $ | 366,619 | |||||||||
Interest expense | 30,869 | 1,323 | — | 32,192 | |||||||||||||
Net interest income | 331,185 | 3,240 | 2 | 334,427 | |||||||||||||
Provision for loan losses | 12,481 | 84 | — | 12,565 | |||||||||||||
Mortgage income | 80 | 40,823 | — | 40,903 | |||||||||||||
Title income | — | — | 15,007 | 15,007 | |||||||||||||
Other non-interest income | 73,460 | (61 | ) | (2 | ) | 73,397 | |||||||||||
Core deposit intangible amortization | 3,779 | — | — | 3,779 | |||||||||||||
Allocated expenses | (9,110 | ) | 6,432 | 2,678 | — | ||||||||||||
Other non-interest expenses | 305,121 | 33,558 | 12,405 | 351,084 | |||||||||||||
Income (loss) before income taxes | 92,454 | 3,928 | (76 | ) | 96,306 | ||||||||||||
Income tax expense (benefit) | 24,081 | 1,552 | (14 | ) | 25,619 | ||||||||||||
Net income (loss) | $ | 68,373 | $ | 2,376 | $ | (62 | ) | $ | 70,687 | ||||||||
Total loans and loans held for sale | $ | 11,055,809 | $ | 171,920 | $ | — | $ | 11,227,729 | |||||||||
Total assets | 15,288,157 | 202,923 | 25,529 | 15,516,609 | |||||||||||||
Total deposits | 12,371,606 | 6,169 | — | 12,377,775 | |||||||||||||
Average assets | 14,097,930 | 179,218 | 25,003 | 14,302,151 | |||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||
(Dollars in thousands) | IBERIABANK | IMC | LTC | Consolidated | |||||||||||||
Interest income | $ | 318,646 | $ | 4,428 | $ | 31 | $ | 323,105 | |||||||||
Interest expense | 34,786 | 1,513 | — | 36,299 | |||||||||||||
Net interest income | 283,860 | 2,915 | 31 | 286,806 | |||||||||||||
Provision for loan losses | 320 | 125 | — | 445 | |||||||||||||
Mortgage income | 2 | 51,839 | — | 51,841 | |||||||||||||
Title income | — | — | 16,199 | 16,199 | |||||||||||||
Other non-interest income | 62,206 | (4 | ) | — | 62,202 | ||||||||||||
Core deposit intangible amortization | 3,375 | — | — | 3,375 | |||||||||||||
Allocated expenses | (4,402 | ) | 3,213 | 1,189 | — | ||||||||||||
Other non-interest expenses | 315,332 | 38,942 | 12,761 | 367,035 | |||||||||||||
Income before income taxes | 31,443 | 12,470 | 2,280 | 46,193 | |||||||||||||
Income tax expense (benefit) | 884 | 4,897 | 913 | 6,694 | |||||||||||||
Net income | $ | 30,559 | $ | 7,573 | $ | 1,367 | $ | 39,499 | |||||||||
Total loans and loans held for sale | $ | 9,024,959 | $ | 126,363 | $ | — | $ | 9,151,322 | |||||||||
Total assets | 12,965,373 | 153,402 | 26,302 | 13,145,077 | |||||||||||||
Total deposits | 10,946,453 | 4,311 | — | 10,950,764 | |||||||||||||
Average assets | 12,747,602 | 193,463 | 25,454 | 12,966,519 |
Basis_of_Presentation_Addition
Basis of Presentation - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Property write-downs | $0.50 | $1.40 | $1.90 | $4 |
IBERIABANK Corporation [Member] | ' | ' | ' | ' |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Number of operating states | 6 | ' | 6 | ' |
IMC [Member] | ' | ' | ' | ' |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Number of operating states | 12 | ' | 12 | ' |
Recent_Accounting_Pronouncemen1
Recent Accounting Pronouncements - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2014 | |
Equity Method Investments and Joint Ventures [Abstract] | ' |
Income tax examination description | 'The Company receives tax credits and/or tax deductions from operating losses, which are allowable on the Company's filed income tax returns over a 10-year period, subject to recapture over a 15-year period beginning with the first year the tax credits are earned. |
Earnings_Per_Share_Schedule_of
Earnings Per Share - Schedule of Calculation of Basic and Diluted Earnings Per Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Earnings Per Share, Basic And Diluted, By Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Income available to common shareholders | $29,744 | $23,192 | $70,687 | $39,499 |
Distributed earnings (capital) to common shareholders-basic | 29,300 | 22,771 | 69,553 | 38,755 |
Distributed and undistributed earnings to common shareholders-diluted | 29,296 | 22,767 | 69,528 | 38,755 |
Weighted average shares outstanding-basic | 33,309,881 | 29,631,799 | 31,316,267 | 29,582,081 |
Weighted average shares outstanding-diluted | 32,926,969 | 29,147,232 | 30,923,050 | 29,062,238 |
Earnings per common share - Basic | $0.89 | $0.78 | $2.26 | $1.34 |
Earnings per common share - Diluted | $0.89 | $0.78 | $2.25 | $1.33 |
Unvested Restricted Stock [Member] | ' | ' | ' | ' |
Earnings Per Share, Basic And Diluted, By Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Distributed earnings (capital) to unvested restricted stock | -444 | -421 | -1,134 | -744 |
Undistributed earnings reallocated to unvested restricted stock | ($4) | ($4) | ($25) | ' |
Earnings per common share - Basic | $0.88 | $0.77 | $2.16 | $1.33 |
Earnings per common share - Diluted | $0.89 | $0.78 | $2.21 | $1.33 |
Earnings_Per_Share_Schedule_of1
Earnings Per Share - Schedule of Calculation of Basic and Diluted Earnings Per Share (Parenthetical) (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Weighted average basic shares outstanding, unvested restricted stock | 506,464 | 547,155 | 525,441 | 559,556 |
Earnings_Per_Share_Schedule_of2
Earnings Per Share - Schedule of Basic Earnings Per Common Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Distributed earnings to common shareholders | $11,200 | $9,926 | $32,430 | $29,736 |
Undistributed earnings (distributed capital) to common shareholders | 18,100 | 12,845 | 37,123 | 9,019 |
Total earnings to common shareholders | 29,300 | 22,771 | 69,553 | 38,755 |
Distributed earnings per common share | $0.34 | $0.34 | $1.05 | $1.03 |
Undistributed earnings (distributed capital) per common share | $0.55 | $0.44 | $1.21 | $0.31 |
Total earnings per common share-basic | $0.89 | $0.78 | $2.26 | $1.34 |
Unvested Restricted Stock [Member] | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Distributed earnings to common shareholders | 170 | 183 | 529 | 571 |
Undistributed earnings (distributed capital) to common shareholders | 274 | 238 | 605 | 173 |
Total earnings allocated to restricted stock | $444 | $421 | $1,134 | $744 |
Distributed earnings per common share | $0.34 | $0.34 | $1.01 | $1.02 |
Undistributed earnings (distributed capital) per common share | $0.54 | $0.43 | $1.15 | $0.31 |
Total earnings per common share-basic | $0.88 | $0.77 | $2.16 | $1.33 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Earnings Per Share Basic And Diluted [Line Items] | ' | ' | ' | ' |
Weighted average number of shares, Recognition and Retention Plan | 621,341 | 642,764 | 630,320 | 645,793 |
Weighted average number of shares, treasury stock | 1,838,144 | 2,189,978 | 1,901,277 | 2,249,068 |
Stock Options [Member] | ' | ' | ' | ' |
Earnings Per Share Basic And Diluted [Line Items] | ' | ' | ' | ' |
Stock options having antidilutive effect on earnings per share | 12,765 | 402,344 | 12,765 | 678,604 |
Acquisition_Activity_Additiona
Acquisition Activity - Additional Information (Detail) (USD $) | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||
Jan. 17, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-14 | Sep. 30, 2014 | 31-May-14 | Jun. 30, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Feb. 24, 2014 | Sep. 30, 2014 | Feb. 24, 2014 | 1-May-14 | Sep. 30, 2014 | |
Trust | Teche [Member] | Teche [Member] | Teche [Member] | First Private [Member] | First Private [Member] | First Private [Member] | First Private [Member] | Title Company LLC [Member] | Title Company LLC [Member] | Title Company LLC [Member] | Louisiana Abstract and Title Llc [Member] | Louisiana Abstract and Title Llc [Member] | ||||
Branch | Branch | Mobile Branches [Member] | ||||||||||||||
Branch | ||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash payment to acquire business | $91,600,000 | ' | ' | ' | ' | $714,000 | ' | ' | $1,000 | ' | ' | $400,000 | ' | ' | $200,000 | ' |
Goodwill | 8,600,000 | 526,242,000 | 401,872,000 | 401,872,000 | ' | 84,786,000 | 84,800,000 | ' | 30,611,000 | 30,600,000 | ' | ' | 221,000 | 200,000 | ' | 155,000 |
Number of branches acquired | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares received | ' | ' | ' | ' | ' | ' | 1.162 | ' | ' | 0.27 | ' | ' | ' | ' | ' | ' |
Total consideration paid | ' | ' | ' | ' | 156,700,000 | 156,740,000 | ' | 58,600,000 | 58,640,000 | ' | ' | ' | ' | ' | ' | ' |
Business combination date of acquisition | ' | ' | ' | ' | ' | 31-May-14 | ' | ' | 30-Jun-14 | ' | ' | ' | ' | ' | ' | ' |
Number of branches | ' | ' | ' | ' | ' | 20 | ' | 4 | ' | ' | 2 | ' | ' | ' | ' | ' |
Goodwill created in the acquisition deductible for income tax purposes | ' | ' | ' | ' | ' | ' | $0 | ' | ' | $0 | ' | ' | ' | ' | ' | ' |
Maximum period for subject to change estimated fair values after acquisition date | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition_Activity_Schedule_
Acquisition Activity - Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable (Detail) (USD $) | 0 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | |||||
In Thousands, except Share data, unless otherwise specified | Jan. 17, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-14 | Sep. 30, 2014 | 31-May-14 | Jun. 30, 2014 | Sep. 30, 2014 | Jun. 30, 2014 |
Teche [Member] | Teche [Member] | Teche [Member] | First Private [Member] | First Private [Member] | First Private [Member] | |||||
Equity consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued, Amount | ' | ' | ' | ' | ' | $156,026 | ' | ' | $58,639 | ' |
Common stock issued, Number of Shares | ' | ' | ' | ' | ' | 2,498,007 | ' | ' | 847,509 | ' |
Total equity consideration | ' | ' | ' | ' | ' | 156,026 | ' | ' | 58,639 | ' |
Non-Equity consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | 91,600 | ' | ' | ' | ' | 714 | ' | ' | 1 | ' |
Total consideration paid | ' | ' | ' | ' | 156,700 | 156,740 | ' | 58,600 | 58,640 | ' |
Fair value of net assets assumed including identifiable intangible assets | ' | ' | ' | ' | ' | 71,954 | ' | ' | ' | ' |
Fair value of net liabilities assumed including identifiable intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 28,029 | ' |
Goodwill | $8,600 | $526,242 | $401,872 | $401,872 | ' | $84,786 | $84,800 | ' | $30,611 | $30,600 |
Acquisition_Activity_Schedule_1
Acquisition Activity - Schedule of Business Acquisitions, by Acquisition (Detail) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
As Acquired [Member] | Teche [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash and cash equivalents | $71,611 |
Investment securities | 24,077 |
Loans | 716,196 |
Other real estate owned | 329 |
Core deposit intangible | ' |
Deferred tax asset (liability) | 1,057 |
Other assets | 56,752 |
Total Assets | 870,022 |
Interest-bearing deposits | 520,446 |
Non-interest-bearing deposits | 118,256 |
Borrowings | 134,228 |
Other liabilities | 5,366 |
Total Liabilities | 778,296 |
As Acquired [Member] | First Private [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash and cash equivalents | 26,621 |
Investment securities | 18,920 |
Loans | 295,736 |
Other real estate owned | ' |
Core deposit intangible | ' |
Deferred tax asset (liability) | 530 |
Other assets | 5,230 |
Total Assets | 347,037 |
Interest-bearing deposits | 261,713 |
Non-interest-bearing deposits | 50,333 |
Borrowings | 6,451 |
Other liabilities | 306 |
Total Liabilities | 318,803 |
As Acquired [Member] | Trust One- Memphis [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash and cash equivalents | 92,060 |
Loans | 88,179 |
Other real estate owned | 1,325 |
Core deposit intangible | ' |
Other assets | 368 |
Total Assets | 181,932 |
Interest-bearing deposits | 164,942 |
Non-interest-bearing deposits | 26,373 |
Deferred tax liability | ' |
Other liabilities | 84 |
Total Liabilities | 191,399 |
Preliminary Fair Value Adjustments [Member] | Teche [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash and cash equivalents | ' |
Investment securities | 1,092 |
Loans | -16,636 |
Other real estate owned | -153 |
Core deposit intangible | 2,055 |
Deferred tax asset (liability) | 7,337 |
Other assets | -6,261 |
Total Assets | -12,566 |
Interest-bearing deposits | 902 |
Non-interest-bearing deposits | ' |
Borrowings | 6,304 |
Other liabilities | ' |
Total Liabilities | 7,206 |
Preliminary Fair Value Adjustments [Member] | First Private [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash and cash equivalents | ' |
Investment securities | 297 |
Loans | -910 |
Other real estate owned | ' |
Core deposit intangible | 506 |
Deferred tax asset (liability) | 122 |
Other assets | ' |
Total Assets | 15 |
Interest-bearing deposits | 220 |
Non-interest-bearing deposits | ' |
Borrowings | ' |
Other liabilities | ' |
Total Liabilities | 220 |
Preliminary Fair Value Adjustments [Member] | Trust One- Memphis [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash and cash equivalents | ' |
Loans | -1,726 |
Other real estate owned | ' |
Core deposit intangible | 2,597 |
Other assets | ' |
Total Assets | 871 |
Interest-bearing deposits | ' |
Non-interest-bearing deposits | ' |
Deferred tax liability | ' |
Other liabilities | ' |
Total Liabilities | ' |
As Recorded by IBERIABANK [Member] | Teche [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash and cash equivalents | 71,611 |
Investment securities | 25,169 |
Loans | 699,560 |
Other real estate owned | 176 |
Core deposit intangible | 2,055 |
Deferred tax asset (liability) | 8,394 |
Other assets | 50,491 |
Total Assets | 857,456 |
Interest-bearing deposits | 521,348 |
Non-interest-bearing deposits | 118,256 |
Borrowings | 140,532 |
Other liabilities | 5,366 |
Total Liabilities | 785,502 |
As Recorded by IBERIABANK [Member] | First Private [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash and cash equivalents | 26,621 |
Investment securities | 19,217 |
Loans | 294,826 |
Other real estate owned | ' |
Core deposit intangible | 506 |
Deferred tax asset (liability) | 652 |
Other assets | 5,230 |
Total Assets | 347,052 |
Interest-bearing deposits | 261,933 |
Non-interest-bearing deposits | 50,333 |
Borrowings | 6,451 |
Other liabilities | 306 |
Total Liabilities | 319,023 |
As Recorded by IBERIABANK [Member] | Trust One- Memphis [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash and cash equivalents | 92,060 |
Loans | 86,453 |
Other real estate owned | 1,325 |
Core deposit intangible | 2,597 |
Other assets | 368 |
Total Assets | 182,803 |
Interest-bearing deposits | 164,942 |
Non-interest-bearing deposits | 26,373 |
Deferred tax liability | ' |
Other liabilities | 84 |
Total Liabilities | $191,399 |
Acquisition_Activity_Schedule_2
Acquisition Activity - Schedule of Assets Acquired under Business Acquisitions (Detail) (USD $) | Sep. 30, 2014 | Jan. 17, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Feb. 24, 2014 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | Title Company LLC [Member] | Title Company LLC [Member] | Louisiana Abstract and Title Llc [Member] | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Goodwill | $526,242 | $8,600 | $401,872 | $401,872 | $221 | $200 | $155 |
Non-compete agreement | ' | ' | ' | ' | 63 | ' | 100 |
Title plant | ' | ' | ' | ' | 14 | ' | 9 |
Other intangible assets | ' | ' | ' | ' | 75 | ' | 130 |
Other assets | ' | ' | ' | ' | 3 | ' | 6 |
Total Assets | ' | ' | ' | ' | $376 | ' | $400 |
Acquisition_Activity_Supplemen
Acquisition Activity - Supplemental Pro Forma Information (Detail) (USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Business Acquisition, Pro Forma Information [Abstract] | ' |
Interest and non-interest income | $500,638 |
Net income | $46,139 |
Earnings per share-basic | $1.40 |
Earnings per share-diluted | $1.40 |
Investment_Securities_Schedule
Investment Securities - Schedule of Amortized Cost and Fair Values of Investment Securities, with Gross Unrealized Gains and Losses (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | $2,105,100 | $1,963,046 |
Securities available for sale, Gross Unrealized Gains | 16,992 | 13,867 |
Securities available for sale, Gross Unrealized Losses | -18,264 | -40,116 |
Securities available for sale, Estimated Fair Value | 2,103,828 | 1,936,797 |
Securities held to maturity, Amortized Cost | 120,520 | 154,109 |
Securities held to maturity, Gross Unrealized Gains | 3,398 | 2,205 |
Securities held to maturity, Gross Unrealized Losses | -1,460 | -3,748 |
Securities held to maturity, Estimated Fair Value | 122,458 | 152,566 |
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 | 359,404 | 406,092 |
Securities available for sale, Gross Unrealized Gains | 1,465 | 1,382 |
Securities available for sale, Gross Unrealized Losses | -5,926 | -11,913 |
Securities available for sale, Estimated Fair Value | 354,943 | 395,561 |
Securities held to maturity, Amortized Cost | 10,000 | 34,478 |
Securities held to maturity, Gross Unrealized Gains | 157 | 484 |
Securities held to maturity, Gross Unrealized Losses | ' | ' |
Securities held to maturity, Estimated Fair Value | 10,157 | 34,962 |
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 | 87,895 | 105,300 |
Securities available for sale, Gross Unrealized Gains | 3,891 | 2,435 |
Securities available for sale, Gross Unrealized Losses | ' | -256 |
Securities available for sale, Estimated Fair Value | 91,786 | 107,479 |
Securities held to maturity, Amortized Cost | 79,309 | 84,290 |
Securities held to maturity, Gross Unrealized Gains | 3,044 | 1,463 |
Securities held to maturity, Gross Unrealized Losses | -266 | -1,624 |
Securities held to maturity, Estimated Fair Value | 82,087 | 84,129 |
Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Securities Available-for-sale And Held To Maturity [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 1,656,341 | 1,450,194 |
Securities available for sale, Gross Unrealized Gains | 11,613 | 10,031 |
Securities available for sale, Gross Unrealized Losses | -12,338 | -27,947 |
Securities available for sale, Estimated Fair Value | 1,655,616 | 1,432,278 |
Securities held to maturity, Amortized Cost | 31,211 | 35,341 |
Securities held to maturity, Gross Unrealized Gains | 197 | 258 |
Securities held to maturity, Gross Unrealized Losses | -1,194 | -2,124 |
Securities held to maturity, Estimated Fair Value | 30,214 | 33,475 |
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 | 23 | 19 |
Securities available for sale, Gross Unrealized Losses | ' | ' |
Securities available for sale, Estimated Fair Value | $1,483 | $1,479 |
Investment_Securities_Addition
Investment Securities - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Security | Security | Bonds | |||
Security | |||||
Net Investment Income [Line Items] | ' | ' | ' | ' | ' |
Pledged securities, carrying values | $1,400,000,000 | ' | $1,400,000,000 | ' | $1,500,000,000 |
Number of debt securities, held | 162 | ' | 162 | ' | 207 |
Unrealized losses on debt securities, percent of amortized cost | 1.64% | ' | 1.64% | ' | 3.23% |
Unrealized losses on debt securities, percent of Company's total amortized cost | 0.89% | ' | 0.89% | ' | 2.07% |
Unrated revenue municipal bond | ' | ' | ' | ' | 1 |
Impairment of par value bond, percentage | ' | ' | 50.00% | ' | ' |
Gain (loss) on sale of available for sale investments | $582,000 | ($3,000) | $609,000 | $2,259,000 | ' |
Obligations of State and Political Obligations [Member] | ' | ' | ' | ' | ' |
Net Investment Income [Line Items] | ' | ' | ' | ' | ' |
Number of securities, continuous loss position, over twelve months | 6 | ' | 6 | ' | ' |
Investment_Securities_Schedule1
Investment Securities - Schedule of Securities with Gross Unrealized Losses Aggregated by Investment Category (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Net Investment Income [Line Items] | ' | ' |
Securities available for sale, Less Than Twelve Months, Gross Unrealized Losses | ($2,846) | ($35,543) |
Securities available for sale, Less Than Twelve Months, Estimated Fair Value | 552,543 | 1,165,829 |
Securities available for sale, Over Twelve Months, Gross Unrealized Losses | -15,418 | -4,573 |
Securities available for sale, Over Twelve Months, Estimated Fair Value | 592,316 | 88,432 |
Securities available for sale, Gross Unrealized Losses, Total | -18,264 | -40,116 |
Securities available for sale, Estimated Fair Value, Total | 1,144,859 | 1,254,261 |
Securities held to maturity, Less Than Twelve Months, Gross Unrealized Losses | -1 | -2,133 |
Securities held to maturity, Less Than Twelve Months, Estimated Fair Value | 636 | 42,268 |
Securities held to maturity, Over Twelve Months, Gross Unrealized Losses | -1,459 | -1,615 |
Securities held to maturity, Over Twelve Months, Estimated Fair Value | 35,114 | 17,856 |
Securities held to maturity, Gross Unrealized Losses, Total | -1,460 | -3,748 |
Securities held to maturity, Estimated Fair Value, Total | 35,750 | 60,124 |
Obligations of State and Political Obligations [Member] | ' | ' |
Net Investment Income [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 | 186 | 2,415 |
Securities available for sale, Over Twelve Months, Gross Unrealized Losses | ' | -226 |
Securities available for sale, Over Twelve Months, Estimated Fair Value | ' | 1,047 |
Securities available for sale, Gross Unrealized Losses, Total | ' | -256 |
Securities available for sale, Estimated Fair Value, Total | 186 | 3,462 |
Securities held to maturity, Less Than Twelve Months, Gross Unrealized Losses | -1 | -1,181 |
Securities held to maturity, Less Than Twelve Months, Estimated Fair Value | 564 | 29,355 |
Securities held to maturity, Over Twelve Months, Gross Unrealized Losses | -265 | -443 |
Securities held to maturity, Over Twelve Months, Estimated Fair Value | 10,811 | 6,240 |
Securities held to maturity, Gross Unrealized Losses, Total | -266 | -1,624 |
Securities held to maturity, Estimated Fair Value, Total | 11,375 | 35,595 |
Mortgage-Backed Securities [Member] | ' | ' |
Net Investment Income [Line Items] | ' | ' |
Securities available for sale, Less Than Twelve Months, Gross Unrealized Losses | -2,846 | -23,749 |
Securities available for sale, Less Than Twelve Months, Estimated Fair Value | 552,357 | 864,899 |
Securities available for sale, Over Twelve Months, Gross Unrealized Losses | -9,492 | -4,198 |
Securities available for sale, Over Twelve Months, Estimated Fair Value | 333,795 | 81,870 |
Securities available for sale, Gross Unrealized Losses, Total | -12,338 | -27,947 |
Securities available for sale, Estimated Fair Value, Total | 886,152 | 946,769 |
Securities held to maturity, Less Than Twelve Months, Gross Unrealized Losses | ' | -952 |
Securities held to maturity, Less Than Twelve Months, Estimated Fair Value | 72 | 12,913 |
Securities held to maturity, Over Twelve Months, Gross Unrealized Losses | -1,194 | -1,172 |
Securities held to maturity, Over Twelve Months, Estimated Fair Value | 24,303 | 11,616 |
Securities held to maturity, Gross Unrealized Losses, Total | -1,194 | -2,124 |
Securities held to maturity, Estimated Fair Value, Total | 24,375 | 24,529 |
U.S. Government-Sponsored Enterprise Obligations [Member] | ' | ' |
Net Investment Income [Line Items] | ' | ' |
Securities available for sale, Less Than Twelve Months, Gross Unrealized Losses | ' | -11,764 |
Securities available for sale, Less Than Twelve Months, Estimated Fair Value | ' | 298,515 |
Securities available for sale, Over Twelve Months, Gross Unrealized Losses | -5,926 | -149 |
Securities available for sale, Over Twelve Months, Estimated Fair Value | 258,521 | 5,515 |
Securities available for sale, Gross Unrealized Losses, Total | -5,926 | -11,913 |
Securities available for sale, Estimated Fair Value, Total | $258,521 | $304,030 |
Investment_Securities_Addition1
Investment Securities - Additional Information on Securities in a Continuous Loss Position (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Securities | Securities | |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Number of securities, available for sale securities | 84 | 25 |
Number of securities, amortized costs | $644,306 | $112,476 |
Number of securities, unrealized loss | 16,876 | 6,188 |
Fannie Mae Freddie Mac or Ginnie Mae [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Number of securities, available for sale securities | 78 | 20 |
Number of securities, amortized costs | 633,230 | 104,520 |
Number of securities, unrealized loss | 16,611 | 5,519 |
Political Subdivisions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Number of securities, available for sale securities | 6 | 5 |
Number of securities, amortized costs | 11,076 | 7,956 |
Number of securities, unrealized loss | $265 | $669 |
Investment_Securities_Schedule2
Investment Securities - Schedule of Amortized Cost and Estimated Fair Value of Investment Securities by Maturity (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Securities Available for Sale, Weighted Average Yield, Within one year or less | 1.27% | ' |
Securities Available for Sale, Weighted Average Yield, One through five years | 1.54% | ' |
Securities Available for Sale, Weighted Average Yield, After five through ten years | 2.10% | ' |
Securities Available for Sale, Weighted Average Yield, Over ten years | 2.18% | ' |
Securities Available for Sale, Weighted Average Yield, Total | 2.08% | ' |
Securities Available for Sale, Amortized Cost, Within one year or less | $15,397 | ' |
Securities Available for Sale, Amortized Cost, One through five years | 241,992 | ' |
Securities Available for Sale, Amortized Cost, After five through ten years | 474,758 | ' |
Securities Available for Sale, Amortized Cost, Over ten years | 1,372,953 | ' |
Securities Available for Sale, Amortized Cost, Total | 2,105,100 | ' |
Securities Available for Sale, Estimated Fair Value, Within one year or less | 15,488 | ' |
Securities Available for Sale, Estimated Fair Value, One through five years | 241,502 | ' |
Securities Available for Sale, Estimated Fair Value, After five through ten years | 476,954 | ' |
Securities Available for Sale, Estimated Fair Value, Over ten years | 1,369,884 | ' |
Securities Available for Sale, Estimated Fair Value, Totals | 2,103,828 | 1,936,797 |
Securities Held to Maturity, Weighted Average Yield, Within one year or less | 2.65% | ' |
Securities Held to Maturity, Weighted Average Yield, One through five years | 2.84% | ' |
Securities Held to Maturity, Weighted Average Yield, After five through ten years | 2.97% | ' |
Securities Held to Maturity, Weighted Average Yield, Over ten years | 3.05% | ' |
Securities Held to Maturity, Weighted Average Yield, Totals | 2.98% | ' |
Securities Held to Maturity, Amortized Cost, Within one year or less | 10,000 | ' |
Securities Held to Maturity, Amortized Cost, One through five years | 12,968 | ' |
Securities Held to Maturity, Amortized Cost, After five through ten years | 17,983 | ' |
Securities Held to Maturity, Amortized Cost, Over ten years | 79,569 | ' |
Securities Held to Maturity, Amortized Cost, Totals | 120,520 | 154,109 |
Securities Held to Maturity, Estimated Fair Value, Within one year or less | 10,157 | ' |
Securities Held to Maturity, Estimated Fair Value, One through five years | 13,352 | ' |
Securities Held to Maturity, Estimated Fair Value, After five through ten years | 18,591 | ' |
Securities Held to Maturity, Estimated Fair Value, Over ten years | 80,358 | ' |
Securities held to maturity, Estimated Fair Value | $122,458 | $152,566 |
Investment_Securities_Schedule3
Investment Securities - Schedule of Realized Gains and Losses from Sale of Securities Classified as Available for Sale (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' | ' |
Realized gains | $582 | ' | $609 | $2,369 |
Realized losses | ' | -3 | ' | -110 |
Net realized gains (losses) | $582 | ($3) | $609 | $2,259 |
Investment_Securities_Schedule4
Investment Securities - Schedule of Securities in Other Assets on Company's Consolidated Balance Sheets (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Federal Home Loan Bank (FHLB) stock | $41,011 | $24,369 |
Federal Reserve Bank (FRB) stock | 34,348 | 28,098 |
Other investments | 1,306 | 1,306 |
Total | $76,665 | $53,773 |
Loans_Receivable_Schedule_of_N
Loans Receivable - Schedule of Non-Covered and Covered Loans (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | $10,555,010 | $8,772,226 | ' |
Covered loans receivable | 524,189 | 719,793 | ' |
Total loans receivable | 11,079,199 | 9,492,019 | ' |
Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 524,189 | 719,793 | 807,002 |
Non-Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 10,555,010 | 8,772,226 | ' |
Commercial Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 281,390 | 424,357 | ' |
Total loans receivable | 7,506,907 | 6,863,418 | ' |
Commercial Loans [Member] | Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 247,156 | 387,332 | ' |
Total loans receivable | 4,279,575 | 3,867,305 | ' |
Commercial Loans [Member] | Business [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 34,234 | 37,025 | ' |
Total loans receivable | 3,227,332 | 2,996,113 | ' |
Commercial Loans [Member] | Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 281,390 | 424,357 | ' |
Commercial Loans [Member] | Covered Loans [Member] | Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 247,156 | 387,332 | ' |
Commercial Loans [Member] | Covered Loans [Member] | Business [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 34,234 | 37,025 | ' |
Commercial Loans [Member] | Non-Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 7,225,517 | 6,439,061 | ' |
Commercial Loans [Member] | Non-Covered Loans [Member] | Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 4,032,419 | 3,479,973 | ' |
Commercial Loans [Member] | Non-Covered Loans [Member] | Business [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 3,193,098 | 2,959,088 | ' |
Residential Mortgage Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 130,976 | 154,025 | ' |
Total loans receivable | 1,069,963 | 586,532 | ' |
Residential Mortgage Loans [Member] | Residential 1-4 Family [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 130,976 | 154,025 | ' |
Total loans receivable | 1,042,075 | 577,082 | ' |
Residential Mortgage Loans [Member] | Construction / Owner Occupied [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | ' | ' | ' |
Total loans receivable | 27,888 | 9,450 | ' |
Residential Mortgage Loans [Member] | Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 130,976 | 154,025 | ' |
Residential Mortgage Loans [Member] | Covered Loans [Member] | Residential 1-4 Family [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 130,976 | 154,025 | ' |
Residential Mortgage Loans [Member] | Non-Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 938,987 | 432,507 | ' |
Residential Mortgage Loans [Member] | Non-Covered Loans [Member] | Residential 1-4 Family [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 911,099 | 423,057 | ' |
Residential Mortgage Loans [Member] | Non-Covered Loans [Member] | Construction / Owner Occupied [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 27,888 | 9,450 | ' |
Consumer and Other Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 111,823 | 141,411 | ' |
Total loans receivable | 2,502,329 | 2,042,069 | ' |
Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 107,811 | 137,122 | ' |
Total loans receivable | 1,565,878 | 1,291,792 | ' |
Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | ' | ' | ' |
Total loans receivable | 394,691 | 375,236 | ' |
Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 4,012 | 4,289 | ' |
Total loans receivable | 541,760 | 375,041 | ' |
Consumer and Other Loans [Member] | Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 111,823 | 141,411 | ' |
Consumer and Other Loans [Member] | Covered Loans [Member] | Home Equity [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 107,811 | 137,122 | ' |
Consumer and Other Loans [Member] | Covered Loans [Member] | Consumer - Other [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans receivable | 4,012 | 4,289 | ' |
Consumer and Other Loans [Member] | Non-Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 2,390,506 | 1,900,658 | ' |
Consumer and Other Loans [Member] | Non-Covered Loans [Member] | Home Equity [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 1,458,067 | 1,154,670 | ' |
Consumer and Other Loans [Member] | Non-Covered Loans [Member] | Indirect Automobile [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | 394,691 | 375,236 | ' |
Consumer and Other Loans [Member] | Non-Covered Loans [Member] | Consumer - Other [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-Covered loans receivable | $537,748 | $370,752 | ' |
Loans_Receivable_Additional_In
Loans Receivable - Additional Information (Detail) (USD $) | 9 Months Ended | 9 Months Ended | |||||
Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | |
Trust One- Memphis [Member] | Teche [Member] | First Private [Member] | Troubled Debt Restructurings [Member] | Troubled Debt Restructurings [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Deferred loan origination fees | $19,400,000 | $18,600,000 | ' | ' | ' | ' | ' |
Deferred loan expenses | 9,000,000 | 7,600,000 | ' | ' | ' | ' | ' |
Deposit liabilities reclassified as loans receivable | 3,700,000 | 3,100,000 | ' | ' | ' | ' | ' |
Loans with carrying value pledged to secure public deposits and other borrowings | 2,700,000,000 | 2,300,000,000 | ' | ' | ' | ' | ' |
Acquired loans | ' | ' | 86,500,000 | 699,600,000 | 294,800,000 | ' | ' |
Carrying amounts of loans acquired | 1,100,000,000 | ' | ' | ' | ' | ' | ' |
Maximum period for subject to change estimated fair values after acquisition date | '1 year | ' | ' | ' | ' | ' | ' |
Total TDRs | ' | ' | ' | ' | ' | $0 | $11,200,000 |
Loans_Receivable_Schedule_of_A
Loans Receivable - Schedule of Aging of Non-Covered Loans (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Non-Covered Acquired Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | $4,556 | $3,251 |
Past Due, 60-89 days | 2,289 | 2,580 |
Past Due, Greater than 90 days | 43,838 | 37,265 |
Total Past Due | 50,683 | 43,096 |
Current | 1,395,885 | 506,422 |
Discount | -71,500 | -65,613 |
Total Non-covered Loans, Net of Unearned Income | 1,375,068 | 483,905 |
Recorded Investment > 90 days and Accruing | 29,230 | 37,265 |
Non-Covered Acquired Loans [Member] | Commercial Real Estate Construction [Member] | Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 340 | 388 |
Past Due, 60-89 days | 45 | ' |
Past Due, Greater than 90 days | 2,118 | 2,542 |
Total Past Due | 2,503 | 2,930 |
Current | 36,832 | 19,833 |
Discount | -2,061 | -2,532 |
Total Non-covered Loans, Net of Unearned Income | 37,274 | 20,231 |
Recorded Investment > 90 days and Accruing | 1,821 | 2,542 |
Non-Covered Acquired Loans [Member] | Commercial Real Estate - Other [Member] | Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 1,464 | 1,798 |
Past Due, 60-89 days | 277 | 1,963 |
Past Due, Greater than 90 days | 22,081 | 27,967 |
Total Past Due | 23,822 | 31,728 |
Current | 486,238 | 345,286 |
Discount | -42,527 | -52,176 |
Total Non-covered Loans, Net of Unearned Income | 467,533 | 324,838 |
Recorded Investment > 90 days and Accruing | 20,614 | 27,967 |
Non-Covered Acquired Loans [Member] | Commercial Business [Member] | Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 717 | 544 |
Past Due, 60-89 days | 25 | ' |
Past Due, Greater than 90 days | 1,905 | 1,218 |
Total Past Due | 2,647 | 1,762 |
Current | 101,722 | 54,189 |
Discount | -5,144 | -2,914 |
Total Non-covered Loans, Net of Unearned Income | 99,225 | 53,037 |
Recorded Investment > 90 days and Accruing | 1,892 | 1,218 |
Non-Covered Acquired Loans [Member] | Residential Prime [Member] | Residential Mortgage Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 76 | ' |
Past Due, 60-89 days | 931 | ' |
Past Due, Greater than 90 days | 7,437 | 226 |
Total Past Due | 8,444 | 226 |
Current | 432,837 | 18,796 |
Discount | 631 | -887 |
Total Non-covered Loans, Net of Unearned Income | 441,912 | 18,135 |
Recorded Investment > 90 days and Accruing | 369 | 226 |
Non-Covered Acquired Loans [Member] | Home Equity [Member] | Consumer and Other Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 1,615 | 313 |
Past Due, 60-89 days | 1,003 | 516 |
Past Due, Greater than 90 days | 8,203 | 4,242 |
Total Past Due | 10,821 | 5,071 |
Current | 228,051 | 53,995 |
Discount | -10,803 | -5,623 |
Total Non-covered Loans, Net of Unearned Income | 228,069 | 53,443 |
Recorded Investment > 90 days and Accruing | 4,102 | 4,242 |
Non-Covered Acquired Loans [Member] | Indirect Automobile [Member] | Consumer and Other Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 7 | 33 |
Past Due, 60-89 days | 1 | ' |
Past Due, Greater than 90 days | 43 | 95 |
Total Past Due | 51 | 128 |
Current | 606 | 1,725 |
Discount | -44 | ' |
Total Non-covered Loans, Net of Unearned Income | 613 | 1,853 |
Recorded Investment > 90 days and Accruing | 43 | 95 |
Non-Covered Acquired Loans [Member] | Consumer - Other [Member] | Consumer and Other Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 337 | 175 |
Past Due, 60-89 days | 7 | 101 |
Past Due, Greater than 90 days | 2,051 | 975 |
Total Past Due | 2,395 | 1,251 |
Current | 109,599 | 12,598 |
Discount | -11,552 | -1,481 |
Total Non-covered Loans, Net of Unearned Income | 100,442 | 12,368 |
Recorded Investment > 90 days and Accruing | 389 | 975 |
Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 9,242 | 13,426 |
Past Due, 60-89 days | 3,198 | 7,965 |
Past Due, Greater than 90 days | 38,064 | 44,762 |
Total Past Due | 50,504 | 66,153 |
Current | 9,129,438 | 8,222,168 |
Total Non-covered Loans, Net of Unearned Income | 9,179,942 | 8,288,321 |
Recorded Investment > 90 days and Accruing | 4 | 1,075 |
Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Real Estate Construction [Member] | Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 84 | ' |
Past Due, Greater than 90 days | 1,317 | 1,803 |
Total Past Due | 1,401 | 1,803 |
Current | 634,593 | 381,292 |
Total Non-covered Loans, Net of Unearned Income | 635,994 | 383,095 |
Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Real Estate - Other [Member] | Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 1,347 | 6,098 |
Past Due, 60-89 days | 640 | 5,630 |
Past Due, Greater than 90 days | 6,789 | 7,650 |
Total Past Due | 8,776 | 19,378 |
Current | 2,882,842 | 2,732,431 |
Total Non-covered Loans, Net of Unearned Income | 2,891,618 | 2,751,809 |
Recorded Investment > 90 days and Accruing | ' | 2 |
Non-Covered Loans Excluding Acquired Loans [Member] | Commercial Business [Member] | Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 1,475 | 2,117 |
Past Due, 60-89 days | 44 | 423 |
Past Due, Greater than 90 days | 2,737 | 15,020 |
Total Past Due | 4,256 | 17,560 |
Current | 3,089,617 | 2,888,491 |
Total Non-covered Loans, Net of Unearned Income | 3,093,873 | 2,906,051 |
Non-Covered Loans Excluding Acquired Loans [Member] | Residential Prime [Member] | Residential Mortgage Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 1,859 | 1,104 |
Past Due, 60-89 days | 1,349 | 852 |
Past Due, Greater than 90 days | 10,973 | 9,684 |
Total Past Due | 14,181 | 11,640 |
Current | 362,513 | 286,167 |
Total Non-covered Loans, Net of Unearned Income | 376,694 | 297,807 |
Recorded Investment > 90 days and Accruing | ' | 1,073 |
Non-Covered Loans Excluding Acquired Loans [Member] | Home Equity [Member] | Consumer and Other Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 1,783 | 1,956 |
Past Due, 60-89 days | 201 | 569 |
Past Due, Greater than 90 days | 7,310 | 6,808 |
Total Past Due | 9,294 | 9,333 |
Current | 1,220,704 | 1,091,894 |
Total Non-covered Loans, Net of Unearned Income | 1,229,998 | 1,101,227 |
Recorded Investment > 90 days and Accruing | 4 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Indirect Automobile [Member] | Consumer and Other Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 1,825 | 1,427 |
Past Due, 60-89 days | 502 | 293 |
Past Due, Greater than 90 days | 1,338 | 1,275 |
Total Past Due | 3,665 | 2,995 |
Current | 390,413 | 370,388 |
Total Non-covered Loans, Net of Unearned Income | 394,078 | 373,383 |
Non-Covered Loans Excluding Acquired Loans [Member] | Consumer - Other [Member] | Consumer and Other Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 720 | 458 |
Past Due, 60-89 days | 337 | 106 |
Past Due, Greater than 90 days | 416 | 485 |
Total Past Due | 1,473 | 1,049 |
Current | 367,102 | 293,693 |
Total Non-covered Loans, Net of Unearned Income | 368,575 | 294,742 |
Non-Covered Loans Excluding Acquired Loans [Member] | Residential Subprime [Member] | Residential Mortgage Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 60-89 days | 2 | ' |
Past Due, Greater than 90 days | 6,197 | 1,626 |
Total Past Due | 6,199 | 1,626 |
Current | 114,182 | 114,939 |
Total Non-covered Loans, Net of Unearned Income | 120,381 | 116,565 |
Non-Covered Loans Excluding Acquired Loans [Member] | Credit Card [Member] | Consumer and Other Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past Due, 30-59 days | 149 | 266 |
Past Due, 60-89 days | 123 | 92 |
Past Due, Greater than 90 days | 987 | 411 |
Total Past Due | 1,259 | 769 |
Current | 67,472 | 62,873 |
Total Non-covered Loans, Net of Unearned Income | $68,731 | $63,642 |
Loans_Receivable_Schedule_of_N1
Loans Receivable - Schedule of Non-Covered Loans on Nonaccrual Status (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | $38,060 | $43,687 |
Commercial Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 1,317 | 1,803 |
Commercial Loans [Member] | Commercial Real Estate - Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 6,789 | 7,648 |
Commercial Loans [Member] | Business [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 2,737 | 15,020 |
Residential Mortgage Loans [Member] | Residential Prime [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 10,973 | 8,611 |
Residential Mortgage Loans [Member] | Residential Subprime [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 6,197 | 1,626 |
Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 7,306 | 6,808 |
Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 1,338 | 1,275 |
Consumer and Other Loans [Member] | Credit Card [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | 987 | 411 |
Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total loans on nonaccrual status | $416 | $485 |
Loans_Receivable_Schedule_of_C
Loans Receivable - Schedule of Carrying Amount of Acquired Covered Loans (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | $46,301 | $66,077 |
Acquired Performing Loans | 477,888 | 653,716 |
Balance at end of period | 524,189 | 719,793 |
Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 5,298 | 14,904 |
Acquired Performing Loans | 276,092 | 409,453 |
Balance at end of period | 281,390 | 424,357 |
Commercial Loans [Member] | Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 4,678 | 14,904 |
Acquired Performing Loans | 242,478 | 372,428 |
Balance at end of period | 247,156 | 387,332 |
Commercial Loans [Member] | Business [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 620 | ' |
Acquired Performing Loans | 33,614 | 37,025 |
Balance at end of period | 34,234 | 37,025 |
Residential Mortgage Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 24,304 | 28,223 |
Acquired Performing Loans | 106,672 | 125,802 |
Balance at end of period | 130,976 | 154,025 |
Residential Mortgage Loans [Member] | Residential 1-4 Family [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 24,304 | 28,223 |
Acquired Performing Loans | 106,672 | 125,802 |
Balance at end of period | 130,976 | 154,025 |
Residential Mortgage Loans [Member] | Construction / Owner Occupied [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | ' | ' |
Acquired Performing Loans | ' | ' |
Balance at end of period | ' | ' |
Consumer and Other Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 16,699 | 22,950 |
Acquired Performing Loans | 95,124 | 118,461 |
Balance at end of period | 111,823 | 141,411 |
Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 16,210 | 21,768 |
Acquired Performing Loans | 91,601 | 115,354 |
Balance at end of period | 107,811 | 137,122 |
Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | ' | ' |
Acquired Performing Loans | ' | ' |
Balance at end of period | ' | ' |
Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Acquired Impaired Loans | 489 | 1,182 |
Acquired Performing Loans | 3,523 | 3,107 |
Balance at end of period | $4,012 | $4,289 |
Loans_Receivable_Schedule_of_C1
Loans Receivable - Schedule of Carrying Amount of Loans Acquired (Detail) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Contractually required principal and interest at acquisition | $98,097 |
Nonaccretable difference (expected losses and foregone interest) | -4,558 |
Cash flows expected to be collected at acquisition | 93,539 |
Accretable yield | -9,778 |
Basis in acquired loans at acquisition | 83,761 |
Acquired Impaired Loans [Member] | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Contractually required principal and interest at acquisition | 82,967 |
Nonaccretable difference (expected losses and foregone interest) | -4,197 |
Cash flows expected to be collected at acquisition | 78,770 |
Accretable yield | -8,242 |
Basis in acquired loans at acquisition | 70,528 |
Acquired Performing Loans [Member] | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Contractually required principal and interest at acquisition | 15,130 |
Nonaccretable difference (expected losses and foregone interest) | -361 |
Cash flows expected to be collected at acquisition | 14,769 |
Accretable yield | -1,536 |
Basis in acquired loans at acquisition | $13,233 |
Loans_Receivable_Summary_of_Ch
Loans Receivable - Summary of Changes in Accretable Yields of Acquired Loans (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of period | $354,892 | $356,393 |
Acquisition | 9,778 | ' |
Transfers from nonaccretable difference to accretable yield | 17,824 | 40,628 |
Accretion | -79,356 | -132,712 |
Changes in expected cash flows not affecting nonaccretable differences | -26,250 | 91,734 |
Balance at end of period | 276,888 | 356,043 |
Acquired Impaired Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of period | 78,349 | 76,623 |
Acquisition | 8,242 | ' |
Transfers from nonaccretable difference to accretable yield | 3,952 | 6,148 |
Accretion | -12,766 | -13,519 |
Changes in expected cash flows not affecting nonaccretable differences | -6,873 | 10,561 |
Balance at end of period | 70,904 | 79,813 |
Acquired Performing Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Balance at beginning of period | 276,543 | 279,770 |
Acquisition | 1,536 | ' |
Transfers from nonaccretable difference to accretable yield | 13,872 | 34,480 |
Accretion | -66,590 | -119,193 |
Changes in expected cash flows not affecting nonaccretable differences | -19,377 | 81,173 |
Balance at end of period | $205,984 | $276,230 |
Loans_Receivable_Schedule_of_T
Loans Receivable - Schedule of Troubled Debt Restructurings (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Commercial Loans [Member] | Commercial Real Estate Construction [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Commercial Loans [Member] | Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accruing Loans, Current | 367 | 411 |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | 58 | 5,601 |
Total TDRs | 425 | 6,012 |
Commercial Loans [Member] | Business [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accruing Loans, Current | 726 | 1,056 |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | 2,027 | 12,610 |
Total TDRs | 2,753 | 13,666 |
Residential Mortgage Loans [Member] | Residential Prime [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Residential Mortgage Loans [Member] | Residential Subprime [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Consumer and Other Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accruing Loans, Current | 1,093 | 1,467 |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | 2,328 | 18,474 |
Total TDRs | 3,421 | 19,941 |
Consumer and Other Loans [Member] | Home Equity [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Nonaccrual TDRs | 243 | 263 |
Total TDRs | 243 | 263 |
Consumer and Other Loans [Member] | Indirect Automobile [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Consumer and Other Loans [Member] | Credit Card [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Consumer and Other Loans [Member] | Consumer - Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accruing Loans, Past Due Greater than 30 Days | ' | ' |
Loans_Receivable_Schedule_of_M
Loans Receivable - Schedule of Modified TDRs (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Receivables [Abstract] | ' | ' |
Extended maturities | ' | ' |
Interest rate adjustment | ' | ' |
Maturity and interest rate adjustment | ' | ' |
Movement to or extension of interest-rate only payments | ' | ' |
Forbearance | ' | ' |
Other concession(s) | ' | 11,210 |
Total | ' | $11,210 |
Loans_Receivable_Schedule_of_S
Loans Receivable - Schedule of Subsequently Defaulted TDRs (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
SecurityLoan | SecurityLoan | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Number of Loans | ' | 5 |
Pre-modification Outstanding Recorded Investment | ' | $12,507 |
Post-modification Outstanding Recorded Investment | ' | 12,329 |
TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Number of Loans | 43 | 60 |
Recorded Investment | 1,825 | 18,429 |
Real Estate [Member] | Commercial Loans [Member] | TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Number of Loans | ' | 5 |
Pre-modification Outstanding Recorded Investment | ' | 12,507 |
Post-modification Outstanding Recorded Investment | ' | 12,329 |
Number of Loans | 31 | 45 |
Recorded Investment | 58 | 6,012 |
Business [Member] | Commercial Loans [Member] | TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Number of Loans | 11 | 13 |
Recorded Investment | 1,767 | 12,370 |
Home Equity [Member] | Consumer and Other Loans [Member] | TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Number of Loans | ' | 1 |
Recorded Investment | ' | $47 |
Consumer - Other [Member] | Consumer and Other Loans [Member] | TDRs Occurring During The Period [Member] | Non-Covered TDRs [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Number of Loans | 1 | 1 |
Allowance_for_Credit_Losses_an2
Allowance for Credit Losses and Credit Quality - Schedule of Allowance for Loan Losses for Covered Loan and Non-Covered Loan Portfolios (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | $143,074 | $251,603 |
(Reversal of) Provision for loan losses before adjustment attributable to FDIC loss share agreements | 13,718 | -58,120 |
Adjustment attributable to FDIC loss share arrangements | -1,153 | 58,565 |
Net (reversal of) provision for loan losses | 12,565 | 445 |
Adjustment attributable to FDIC loss share arrangements | 1,153 | -58,565 |
Transfer of balance to OREO | -5,378 | -30,315 |
Transfer of balance to the RULC | ' | -9,828 |
Loans charged-off | -21,651 | -9,148 |
Recoveries | 4,777 | 4,353 |
Balance at end of period | 134,540 | 148,545 |
Balance at beginning of period | 11,147 | ' |
Transfer of balance from the allowance for loan losses | ' | 9,828 |
Provision for unfunded lending commitments | 952 | 2,131 |
Balance at end of period | 12,099 | 11,959 |
Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | 67,342 | 74,211 |
(Reversal of) Provision for loan losses before adjustment attributable to FDIC loss share agreements | 9,099 | 2,884 |
Adjustment attributable to FDIC loss share arrangements | ' | ' |
Net (reversal of) provision for loan losses | 9,099 | 2,884 |
Adjustment attributable to FDIC loss share arrangements | ' | ' |
Transfer of balance to OREO | ' | ' |
Transfer of balance to the RULC | ' | -9,828 |
Loans charged-off | -8,242 | -7,455 |
Recoveries | 4,338 | 4,353 |
Balance at end of period | 72,537 | 64,165 |
Balance at beginning of period | 11,147 | ' |
Transfer of balance from the allowance for loan losses | ' | 9,828 |
Provision for unfunded lending commitments | 952 | 2,131 |
Balance at end of period | 12,099 | 11,959 |
Non-Covered Acquired Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at beginning of period | 4,557 | 8,816 |
(Reversal of) Provision for loan losses before adjustment attributable to FDIC loss share agreements | -1,259 | -2,464 |
Adjustment attributable to FDIC loss share arrangements | ' | ' |
Net (reversal of) provision for loan losses | -1,259 | -2,464 |
Adjustment attributable to FDIC loss share arrangements | ' | ' |
Transfer of balance to OREO | -207 | -1,013 |
Transfer of balance to the RULC | ' | ' |
Loans charged-off | -586 | -10 |
Recoveries | 401 | ' |
Balance at end of period | 2,906 | 5,329 |
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 | 71,175 | 168,576 |
(Reversal of) Provision for loan losses before adjustment attributable to FDIC loss share agreements | 5,878 | -58,540 |
Adjustment attributable to FDIC loss share arrangements | -1,153 | 58,565 |
Net (reversal of) provision for loan losses | 4,725 | 25 |
Adjustment attributable to FDIC loss share arrangements | 1,153 | -58,565 |
Transfer of balance to OREO | -5,171 | -29,302 |
Transfer of balance to the RULC | ' | ' |
Loans charged-off | -12,823 | -1,683 |
Recoveries | 38 | ' |
Balance at end of period | 59,097 | 79,051 |
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_an3
Allowance for Credit Losses and Credit Quality - Schedule of Allowance for Loan Losses for Covered Loans, by Loan Portfolio (Detail) (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Transfer of balance to OREO | ($5,378) | ($30,315) | ' |
Transfer of balance to the RULC | ' | -9,828 | ' |
Loans charged off | -21,651 | -9,148 | ' |
Recoveries | 4,777 | 4,353 | ' |
Balance at beginning of period | 11,147 | ' | ' |
Transfer of balance from the allowance for loan losses | ' | 9,828 | ' |
Balance at end of period | 12,099 | 11,959 | ' |
Balance at end of period | 524,189 | ' | 719,793 |
Non-Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 71,899 | 83,027 | ' |
(Reversal of) Provision for loan losses | 7,840 | 420 | ' |
Transfer of balance to OREO | -207 | -1,013 | ' |
Transfer of balance to the RULC | ' | -9,828 | ' |
Loans charged off | -8,828 | -7,465 | ' |
Recoveries | 4,739 | 4,353 | ' |
Balance at end of period | 75,443 | 69,494 | ' |
Balance at beginning of period | 11,147 | ' | ' |
Transfer of balance from the allowance for loan losses | ' | 9,828 | ' |
(Reversal of) Provision for unfunded commitments | 952 | 2,131 | ' |
Balance at end of period | 12,099 | 11,959 | ' |
Allowance on loans individually evaluated for impairment | 25 | 1,092 | ' |
Allowance on loans collectively evaluated for impairment | 75,418 | 68,402 | ' |
Balance at end of period | 10,555,010 | 8,236,035 | ' |
Balance at end of period individually evaluated for impairment | 11,339 | 25,747 | ' |
Balance at end of period collectively evaluated for impairment | 10,543,671 | 8,210,288 | ' |
Balance at end of period acquired with deteriorated credit quality | 19,490 | 18,267 | ' |
Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 71,175 | 168,576 | ' |
(Reversal of) Provision for loan losses | 4,725 | 25 | ' |
(Decrease) Increase in FDIC loss share receivable | 1,153 | -58,565 | ' |
Transfer of balance to OREO | -5,171 | -29,302 | ' |
Transfer of balance to the RULC | ' | ' | ' |
Loans charged off | -12,823 | -1,683 | ' |
Recoveries | 38 | ' | ' |
Balance at end of period | 59,097 | 79,051 | ' |
Balance at beginning of period | ' | ' | ' |
Transfer of balance from the allowance for loan losses | ' | ' | ' |
Balance at end of period | ' | ' | ' |
Allowance on loans collectively evaluated for impairment | 59,097 | 79,051 | ' |
Balance at end of period | 524,189 | 807,002 | 719,793 |
Balance at end of period collectively evaluated for impairment | 524,189 | 807,002 | ' |
Balance at end of period acquired with deteriorated credit quality | 46,301 | 78,484 | ' |
Commercial Real Estate [Member] | Non-Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 26,590 | 38,264 | ' |
(Reversal of) Provision for loan losses | 611 | -6,926 | ' |
Transfer of balance to OREO | ' | -279 | ' |
Transfer of balance to the RULC | ' | -2,939 | ' |
Loans charged off | -1,214 | -1,966 | ' |
Recoveries | 2,209 | 1,498 | ' |
Balance at end of period | 28,196 | 27,652 | ' |
Balance at beginning of period | 3,089 | ' | ' |
Transfer of balance from the allowance for loan losses | ' | 2,939 | ' |
(Reversal of) Provision for unfunded commitments | 726 | 1,207 | ' |
Balance at end of period | 3,815 | 4,146 | ' |
Allowance on loans individually evaluated for impairment | 25 | 8 | ' |
Allowance on loans collectively evaluated for impairment | 28,171 | 27,644 | ' |
Balance at end of period | 4,032,419 | 3,320,333 | ' |
Balance at end of period individually evaluated for impairment | 7,357 | 9,529 | ' |
Balance at end of period collectively evaluated for impairment | 4,025,062 | 3,310,804 | ' |
Balance at end of period acquired with deteriorated credit quality | 15,061 | 16,287 | ' |
Commercial Real Estate [Member] | Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 38,772 | 100,871 | ' |
(Reversal of) Provision for loan losses | 2,544 | 27 | ' |
(Decrease) Increase in FDIC loss share receivable | 734 | -30,853 | ' |
Transfer of balance to OREO | -1,874 | -22,375 | ' |
Loans charged off | -9,578 | -1,683 | ' |
Recoveries | 38 | ' | ' |
Balance at end of period | 30,636 | 45,987 | ' |
Allowance on loans collectively evaluated for impairment | 30,636 | 45,987 | ' |
Balance at end of period | 247,156 | 459,506 | ' |
Balance at end of period collectively evaluated for impairment | 247,156 | 459,506 | ' |
Balance at end of period acquired with deteriorated credit quality | 4,678 | 23,751 | ' |
Commercial Business [Member] | Non-Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 28,515 | 28,721 | ' |
(Reversal of) Provision for loan losses | 2,187 | -582 | ' |
Transfer of balance to OREO | -130 | -81 | ' |
Transfer of balance to the RULC | ' | -3,497 | ' |
Loans charged off | -1,097 | -531 | ' |
Recoveries | 93 | 354 | ' |
Balance at end of period | 29,568 | 24,384 | ' |
Balance at beginning of period | 4,839 | ' | ' |
Transfer of balance from the allowance for loan losses | ' | 3,497 | ' |
(Reversal of) Provision for unfunded commitments | 192 | 610 | ' |
Balance at end of period | 5,031 | 4,107 | ' |
Allowance on loans individually evaluated for impairment | ' | 801 | ' |
Allowance on loans collectively evaluated for impairment | 29,568 | 23,583 | ' |
Balance at end of period | 3,193,098 | 2,643,822 | ' |
Balance at end of period individually evaluated for impairment | 3,276 | 14,548 | ' |
Balance at end of period collectively evaluated for impairment | 3,189,822 | 2,629,274 | ' |
Balance at end of period acquired with deteriorated credit quality | 2,562 | 45 | ' |
Commercial Business [Member] | Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 5,380 | 11,375 | ' |
(Reversal of) Provision for loan losses | 376 | ' | ' |
(Decrease) Increase in FDIC loss share receivable | 609 | -3,137 | ' |
Transfer of balance to OREO | -1,162 | -314 | ' |
Loans charged off | -2,192 | ' | ' |
Balance at end of period | 3,011 | 7,924 | ' |
Allowance on loans collectively evaluated for impairment | 3,011 | 7,924 | ' |
Balance at end of period | 34,234 | 40,422 | ' |
Balance at end of period collectively evaluated for impairment | 34,234 | 40,422 | ' |
Balance at end of period acquired with deteriorated credit quality | 620 | ' | ' |
Mortgage [Member] | Non-Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 2,546 | 2,125 | ' |
(Reversal of) Provision for loan losses | 514 | 1,048 | ' |
Transfer of balance to OREO | -12 | -646 | ' |
Transfer of balance to the RULC | ' | -40 | ' |
Loans charged off | -607 | -481 | ' |
Recoveries | 134 | 698 | ' |
Balance at end of period | 2,575 | 2,704 | ' |
Balance at beginning of period | 72 | ' | ' |
Transfer of balance from the allowance for loan losses | ' | 40 | ' |
(Reversal of) Provision for unfunded commitments | 11 | 38 | ' |
Balance at end of period | 83 | 78 | ' |
Allowance on loans individually evaluated for impairment | ' | 283 | ' |
Allowance on loans collectively evaluated for impairment | 2,575 | 2,421 | ' |
Balance at end of period | 938,987 | 409,940 | ' |
Balance at end of period individually evaluated for impairment | ' | 1,407 | ' |
Balance at end of period collectively evaluated for impairment | 938,987 | 408,533 | ' |
Balance at end of period acquired with deteriorated credit quality | 160 | 120 | ' |
Consumer [Member] | Non-Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 14,248 | 13,917 | ' |
(Reversal of) Provision for loan losses | 4,528 | 6,880 | ' |
Transfer of balance to OREO | -65 | -7 | ' |
Transfer of balance to the RULC | ' | -3,352 | ' |
Loans charged off | -5,910 | -4,487 | ' |
Recoveries | 2,303 | 1,803 | ' |
Balance at end of period | 15,104 | 14,754 | ' |
Balance at beginning of period | 3,147 | ' | ' |
Transfer of balance from the allowance for loan losses | ' | 3,352 | ' |
(Reversal of) Provision for unfunded commitments | 23 | 276 | ' |
Balance at end of period | 3,170 | 3,628 | ' |
Allowance on loans collectively evaluated for impairment | 15,104 | 14,754 | ' |
Balance at end of period | 2,390,506 | 1,861,940 | ' |
Balance at end of period individually evaluated for impairment | 706 | 263 | ' |
Balance at end of period collectively evaluated for impairment | 2,389,800 | 1,861,677 | ' |
Balance at end of period acquired with deteriorated credit quality | 1,707 | 1,815 | ' |
Consumer [Member] | Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 16,134 | 33,764 | ' |
(Reversal of) Provision for loan losses | 834 | -1 | ' |
(Decrease) Increase in FDIC loss share receivable | 2,721 | -18,841 | ' |
Transfer of balance to OREO | -1,487 | 1 | ' |
Loans charged off | -963 | ' | ' |
Balance at end of period | 17,239 | 14,923 | ' |
Allowance on loans collectively evaluated for impairment | 17,239 | 14,923 | ' |
Balance at end of period | 111,823 | 153,559 | ' |
Balance at end of period collectively evaluated for impairment | 111,823 | 153,559 | ' |
Balance at end of period acquired with deteriorated credit quality | 16,699 | 26,400 | ' |
Mortgage [Member] | Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 10,889 | 22,566 | ' |
(Reversal of) Provision for loan losses | 971 | -1 | ' |
(Decrease) Increase in FDIC loss share receivable | -2,911 | -5,734 | ' |
Transfer of balance to OREO | -648 | -6,614 | ' |
Loans charged off | -90 | ' | ' |
Balance at end of period | 8,211 | 10,217 | ' |
Allowance on loans collectively evaluated for impairment | 8,211 | 10,217 | ' |
Balance at end of period | 130,976 | 153,515 | ' |
Balance at end of period collectively evaluated for impairment | 130,976 | 153,515 | ' |
Balance at end of period acquired with deteriorated credit quality | $24,304 | $28,333 | ' |
Allowance_for_Credit_Losses_an4
Allowance for Credit Losses and Credit Quality - Investment in Covered Loans and Non-Covered Loans by Credit Quality Indicator (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | $10,555,010 | $8,772,226 | ' |
Total | 524,189 | 719,793 | ' |
Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 771,093 | 87,114 | ' |
30+ Days Past Due | 21,711 | 6,676 | ' |
Discount | -21,768 | -7,991 | ' |
Total | 771,036 | 85,799 | ' |
Residential Prime [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 432,837 | 18,796 | ' |
30+ Days Past Due | 8,444 | 226 | ' |
Discount | 631 | -887 | ' |
Total | 441,912 | 18,135 | ' |
Home Equity [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 228,051 | 53,995 | ' |
30+ Days Past Due | 10,821 | 5,071 | ' |
Discount | -10,803 | -5,623 | ' |
Total | 228,069 | 53,443 | ' |
Indirect Automobile [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 606 | 1,725 | ' |
30+ Days Past Due | 51 | 128 | ' |
Discount | -44 | ' | ' |
Total | 613 | 1,853 | ' |
Consumer - Other [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 109,599 | 12,598 | ' |
30+ Days Past Due | 2,395 | 1,251 | ' |
Discount | -11,552 | -1,481 | ' |
Total | 100,442 | 12,368 | ' |
Internally Assigned Grade Loss [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Discount | -49,732 | -57,622 | ' |
Total | 604,032 | 398,106 | ' |
Internally Assigned Grade Loss [Member] | Commercial Real Estate Construction [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Discount | -2,061 | -2,532 | ' |
Total | 37,274 | 20,231 | ' |
Internally Assigned Grade Loss [Member] | Commercial Real Estate - Other [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Discount | -42,527 | -52,176 | ' |
Total | 467,533 | 324,838 | ' |
Internally Assigned Grade Loss [Member] | Commercial Business [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Discount | -5,144 | -2,914 | ' |
Total | 99,225 | 53,037 | ' |
Pass [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 584,848 | 378,849 | ' |
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 | 30,675 | 17,132 | ' |
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 | 456,790 | 310,303 | ' |
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 | 97,383 | 51,414 | ' |
Special Mention [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 16,939 | 17,467 | ' |
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 | 3,671 | 196 | ' |
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 | 11,065 | 15,351 | ' |
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 | 2,203 | 1,920 | ' |
Substandard [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 51,587 | 59,288 | ' |
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 | 4,989 | 5,435 | ' |
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 | 42,027 | 51,267 | ' |
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 | 4,571 | 2,586 | ' |
Doubtful [Member] | Non-Covered Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 390 | 124 | ' |
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 | 178 | 93 | ' |
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 | 212 | 31 | ' |
Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 524,189 | 719,793 | 807,002 |
Covered Loans [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 260,428 | 303,185 | ' |
30+ Days Past Due | 43,452 | 66,800 | ' |
Discount | -61,081 | -74,549 | ' |
Covered Loans [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 34,234 | ' | 40,422 |
Covered Loans [Member] | Residential Prime [Member] | Mortgage [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 143,529 | 158,710 | ' |
30+ Days Past Due | 23,993 | 30,814 | ' |
Discount | -36,546 | -35,499 | ' |
Covered Loans [Member] | Home Equity [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 115,813 | 143,236 | ' |
30+ Days Past Due | 19,403 | 35,811 | ' |
Discount | -27,405 | -41,925 | ' |
Covered Loans [Member] | Credit Card [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 588 | 648 | ' |
30+ Days Past Due | 33 | 31 | ' |
Covered Loans [Member] | Consumer - Other [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit risk by payment status, Current | 498 | 591 | ' |
30+ Days Past Due | 23 | 144 | ' |
Discount | 2,870 | 2,875 | ' |
Covered Loans [Member] | Internally Assigned Grade Loss [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 298,634 | 467,930 | ' |
Discount | -17,244 | -43,573 | ' |
Total | 281,390 | 424,357 | ' |
Covered Loans [Member] | Internally Assigned Grade Loss [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 242,799 | 295,436 | ' |
Covered Loans [Member] | Internally Assigned Grade Loss [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 51,861 | 74,675 | ' |
Covered Loans [Member] | Internally Assigned Grade Loss [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 210,939 | 346,225 | ' |
Covered Loans [Member] | Internally Assigned Grade Loss [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 35,834 | 47,030 | ' |
Covered Loans [Member] | Internally Assigned Grade Loss [Member] | Residential Prime [Member] | Mortgage [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 130,976 | 154,025 | ' |
Covered Loans [Member] | Internally Assigned Grade Loss [Member] | Home Equity [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 107,811 | 137,122 | ' |
Covered Loans [Member] | Internally Assigned Grade Loss [Member] | Credit Card [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 621 | 679 | ' |
Covered Loans [Member] | Internally Assigned Grade Loss [Member] | Consumer - Other [Member] | Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 3,391 | 3,610 | ' |
Covered Loans [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 180,150 | 222,175 | ' |
Covered Loans [Member] | Pass [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 40,754 | 42,886 | ' |
Covered Loans [Member] | Pass [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 113,309 | 148,579 | ' |
Covered Loans [Member] | Pass [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 26,087 | 30,710 | ' |
Covered Loans [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 24,986 | 57,880 | ' |
Covered Loans [Member] | Special Mention [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 1,822 | 7,401 | ' |
Covered Loans [Member] | Special Mention [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 22,277 | 49,699 | ' |
Covered Loans [Member] | Special Mention [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 887 | 780 | ' |
Covered Loans [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 93,452 | 183,127 | ' |
Covered Loans [Member] | Substandard [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 9,285 | 23,891 | ' |
Covered Loans [Member] | Substandard [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 75,353 | 144,680 | ' |
Covered Loans [Member] | Substandard [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 8,814 | 14,556 | ' |
Covered Loans [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 46 | 4,748 | ' |
Covered Loans [Member] | Doubtful [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | ' | 497 | ' |
Covered Loans [Member] | Doubtful [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | ' | 3,267 | ' |
Covered Loans [Member] | Doubtful [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 46 | 984 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Current | 2,522,386 | 2,219,954 | ' |
30+ Days Past Due | 36,071 | 27,412 | ' |
Total | 2,558,457 | 2,247,366 | ' |
Credit risk by payment status, Current | 9,129,438 | 8,222,168 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Residential Prime [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Current | 362,513 | 286,167 | ' |
30+ Days Past Due | 14,181 | 11,640 | ' |
Total | 376,694 | 297,807 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Residential Subprime [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Current | 114,182 | 114,939 | ' |
30+ Days Past Due | 6,199 | 1,626 | ' |
Total | 120,381 | 116,565 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Home Equity [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Current | 1,220,704 | 1,091,894 | ' |
30+ Days Past Due | 9,294 | 9,333 | ' |
Total | 1,229,998 | 1,101,227 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Indirect Automobile [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Current | 390,413 | 370,388 | ' |
30+ Days Past Due | 3,665 | 2,995 | ' |
Total | 394,078 | 373,383 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Credit Card [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Current | 67,472 | 62,873 | ' |
30+ Days Past Due | 1,259 | 769 | ' |
Total | 68,731 | 63,642 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Consumer - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Current | 367,102 | 293,693 | ' |
30+ Days Past Due | 1,473 | 1,049 | ' |
Total | 368,575 | 294,742 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Internally Assigned Grade Loss [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 6,621,485 | 6,040,955 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Internally Assigned Grade Loss [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 635,994 | 383,095 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Internally Assigned Grade Loss [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 2,891,618 | 2,751,809 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Internally Assigned Grade Loss [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total | 3,093,873 | 2,906,051 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 6,490,254 | 5,931,779 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Pass [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 624,592 | 370,824 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Pass [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 2,817,777 | 2,694,161 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Pass [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 3,047,885 | 2,866,794 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 70,060 | 42,700 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Special Mention [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 249 | 9,309 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Special Mention [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 46,718 | 27,227 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Special Mention [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 23,093 | 6,164 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 58,774 | 65,437 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Substandard [Member] | Commercial Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 11,153 | 2,962 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Substandard [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 26,700 | 30,308 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Substandard [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 20,921 | 32,167 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 2,397 | 1,039 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Doubtful [Member] | Commercial Real Estate - Other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | 423 | 113 | ' |
Non-Covered Loans Excluding Acquired Loans [Member] | Doubtful [Member] | Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Credit quality indicator by asset risk classification | $1,974 | $926 | ' |
Allowance_for_Credit_Losses_an5
Allowance for Credit Losses and Credit Quality - Schedule of Investment in Impaired Loan (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | $39,250 | ' | $39,250 | ' | $45,342 |
Unpaid Principal Balance | 39,618 | ' | 39,618 | ' | 46,501 |
Related Allowance | -368 | ' | -368 | ' | -1,159 |
Average Recorded Investment | 40,761 | 50,310 | 41,026 | 49,840 | ' |
Interest Income Recognized | 22 | 23 | 379 | 136 | ' |
Commercial Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 11,902 | ' | 11,902 | ' | 25,018 |
Unpaid Principal Balance | 11,937 | ' | 11,937 | ' | 25,877 |
Related Allowance | -35 | ' | -35 | ' | -859 |
Average Recorded Investment | 12,522 | 31,006 | 13,648 | 30,233 | ' |
Interest Income Recognized | 17 | 23 | 168 | 89 | ' |
Commercial Loans [Member] | With No Related Allowance Recorded [Member] | Real Estate [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 6,990 | ' | 6,990 | ' | 8,567 |
Unpaid Principal Balance | 6,990 | ' | 6,990 | ' | 8,567 |
Related Allowance | ' | ' | ' | ' | ' |
Average Recorded Investment | 7,026 | 10,703 | 7,114 | 12,787 | ' |
Interest Income Recognized | 6 | 6 | 20 | 22 | ' |
Commercial Loans [Member] | With No Related Allowance Recorded [Member] | Business [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 3,276 | ' | 3,276 | ' | 13,256 |
Unpaid Principal Balance | 3,276 | ' | 3,276 | ' | 13,256 |
Related Allowance | ' | ' | ' | ' | ' |
Average Recorded Investment | 3,553 | 13,218 | 4,417 | 8,608 | ' |
Interest Income Recognized | 11 | 17 | 48 | 59 | ' |
Commercial Loans [Member] | With No Related Allowance Recorded [Member] | Home Equity [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 689 | ' | 689 | ' | 258 |
Unpaid Principal Balance | 689 | ' | 689 | ' | 258 |
Related Allowance | ' | ' | ' | ' | ' |
Average Recorded Investment | 692 | 265 | 700 | 287 | ' |
Interest Income Recognized | ' | ' | 14 | ' | ' |
Commercial Loans [Member] | With An Allowance Recorded [Member] | Real Estate [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 1,450 | ' | 1,450 | ' | 1,268 |
Unpaid Principal Balance | 1,483 | ' | 1,483 | ' | 1,284 |
Related Allowance | -33 | ' | -33 | ' | -16 |
Average Recorded Investment | 1,631 | 4,346 | 1,533 | 6,092 | ' |
Interest Income Recognized | ' | ' | 91 | 5 | ' |
Commercial Loans [Member] | With An Allowance Recorded [Member] | Business [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 186 | ' | 186 | ' | 1,927 |
Unpaid Principal Balance | 188 | ' | 188 | ' | 2,770 |
Related Allowance | -2 | ' | -2 | ' | -843 |
Average Recorded Investment | 312 | 2,739 | 584 | 2,746 | ' |
Interest Income Recognized | ' | ' | 9 | 3 | ' |
Mortgage Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 16,915 | ' | 16,915 | ' | 11,408 |
Unpaid Principal Balance | 17,170 | ' | 17,170 | ' | 11,645 |
Related Allowance | -255 | ' | -255 | ' | -237 |
Average Recorded Investment | 17,305 | 9,650 | 16,341 | 9,380 | ' |
Interest Income Recognized | ' | ' | 119 | 7 | ' |
Mortgage Loans [Member] | With An Allowance Recorded [Member] | Residential Prime [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 10,746 | ' | 10,746 | ' | 9,791 |
Unpaid Principal Balance | 10,973 | ' | 10,973 | ' | 10,019 |
Related Allowance | -227 | ' | -227 | ' | -228 |
Average Recorded Investment | 11,077 | 9,650 | 10,226 | 9,380 | ' |
Interest Income Recognized | ' | ' | 119 | 7 | ' |
Mortgage Loans [Member] | With An Allowance Recorded [Member] | Residential Subprime [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 6,169 | ' | 6,169 | ' | 1,617 |
Unpaid Principal Balance | 6,197 | ' | 6,197 | ' | 1,626 |
Related Allowance | -28 | ' | -28 | ' | -9 |
Average Recorded Investment | 6,228 | ' | 6,115 | ' | ' |
Interest Income Recognized | ' | ' | ' | ' | ' |
Consumer Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 10,433 | ' | 10,433 | ' | 8,916 |
Unpaid Principal Balance | 10,511 | ' | 10,511 | ' | 8,979 |
Related Allowance | -78 | ' | -78 | ' | -63 |
Average Recorded Investment | 10,934 | 9,654 | 11,037 | 10,227 | ' |
Interest Income Recognized | 5 | ' | 92 | 40 | ' |
Consumer Loans [Member] | With An Allowance Recorded [Member] | Home Equity [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 7,017 | ' | 7,017 | ' | 6,506 |
Unpaid Principal Balance | 7,064 | ' | 7,064 | ' | 6,550 |
Related Allowance | -47 | ' | -47 | ' | -44 |
Average Recorded Investment | 7,177 | 7,244 | 7,404 | 7,458 | ' |
Interest Income Recognized | 5 | ' | 40 | 14 | ' |
Consumer Loans [Member] | With An Allowance Recorded [Member] | Indirect Automobile [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 1,330 | ' | 1,330 | ' | 1,267 |
Unpaid Principal Balance | 1,338 | ' | 1,338 | ' | 1,275 |
Related Allowance | -8 | ' | -8 | ' | -8 |
Average Recorded Investment | 1,544 | 1,349 | 1,720 | 1,610 | ' |
Interest Income Recognized | ' | ' | 27 | 22 | ' |
Consumer Loans [Member] | With An Allowance Recorded [Member] | Credit Card [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 968 | ' | 968 | ' | 404 |
Unpaid Principal Balance | 987 | ' | 987 | ' | 411 |
Related Allowance | -19 | ' | -19 | ' | -7 |
Average Recorded Investment | 1,051 | 424 | 724 | 426 | ' |
Interest Income Recognized | ' | ' | ' | ' | ' |
Consumer Loans [Member] | With An Allowance Recorded [Member] | Consumer - Other [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 429 | ' | 429 | ' | 481 |
Unpaid Principal Balance | 433 | ' | 433 | ' | 485 |
Related Allowance | -4 | ' | -4 | ' | -4 |
Average Recorded Investment | 470 | 372 | 489 | 446 | ' |
Interest Income Recognized | ' | ' | $11 | $4 | ' |
Loss_Sharing_Agreements_and_FD2
Loss Sharing Agreements and FDIC Loss Share Receivable - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Business | ||||
Receivables [Abstract] | ' | ' | ' | ' |
Percentage of covered loan and foreclosed real estate losses | ' | 80.00% | ' | ' |
Losses that exceed contractual thresholds | ' | 95.00% | ' | ' |
Number of acquisitions | ' | 4 | ' | ' |
Recovery period for covered assets | ' | '3 years | ' | ' |
Liability for reserve for amount of consideration | ' | ' | ' | $800,000 |
FDIC loss share receivables | ' | 94,700,000 | ' | ' |
Valuation allowance against indemnification assets | $31,800,000 | ($5,097,000) | ($31,813,000) | ' |
Loss_Sharing_Agreements_and_FD3
Loss Sharing Agreements and FDIC Loss Share Receivable - Schedule of FDIC Loss Share Receivables (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
FDIC Loss Share Receivable [Line Items] | ' | ' | ' | ' | ' |
Balance at beginning of period | ' | $162,312 | ' | $162,312 | ' |
Change due to (reversal of) loan loss provision recorded on FDIC covered loans | ' | ' | ' | 1,153 | -58,565 |
Amortization | -25,120 | ' | -22,875 | -61,393 | -68,707 |
Impairment | ' | -31,800 | ' | 5,097 | 31,813 |
Balance at end of period | 94,712 | ' | ' | 94,712 | ' |
FDIC Loss Share Receivables [Member] | ' | ' | ' | ' | ' |
FDIC Loss Share Receivable [Line Items] | ' | ' | ' | ' | ' |
Balance at beginning of period | ' | 162,312 | ' | 162,312 | 423,069 |
Change due to (reversal of) loan loss provision recorded on FDIC covered loans | ' | ' | ' | 1,153 | -58,565 |
Amortization | ' | ' | ' | -61,393 | -68,707 |
Submission of reimbursable losses to (recoveries payable to) the FDIC | ' | ' | ' | 4,901 | -44,910 |
Impairment | ' | ' | ' | -5,097 | -31,813 |
Changes due to a change in cash flow assumptions on OREO and other changes | ' | ' | ' | -7,164 | -14,189 |
Balance at end of period | $94,712 | ' | $204,885 | $94,712 | $204,885 |
Transfers_and_Servicing_of_Fin2
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) - Components of Mortgage Banking Activity (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Participating Mortgage Loans [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | ' | ' | $128,442 | ' |
Originations and purchases | ' | ' | 1,218,684 | 1,712,557 |
Balance at end of period | 148,530 | ' | 148,530 | ' |
Gains on sales | ' | ' | 41,412 | 51,709 |
Total mortgage income | 12,814 | 15,202 | 40,903 | 51,841 |
Mortgage Loans Held for Sale [Member] | ' | ' | ' | ' |
Participating Mortgage Loans [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | ' | ' | 128,442 | 267,475 |
Originations and purchases | ' | ' | 1,218,684 | 1,712,557 |
Sales, net of gains | ' | ' | -1,193,282 | -1,871,747 |
Other | ' | ' | -5,314 | ' |
Balance at end of period | 148,530 | 108,285 | 148,530 | 108,285 |
Mortgage Income [Member] | ' | ' | ' | ' |
Participating Mortgage Loans [Line Items] | ' | ' | ' | ' |
Fair value changes of derivatives and mortgage loans held for sale, net | ' | ' | -1,081 | -270 |
Gains on sales | ' | ' | 41,412 | 51,709 |
Servicing and other income, net | ' | ' | 572 | 402 |
Total mortgage income | ' | ' | $40,903 | $51,841 |
Transfers_and_Servicing_of_Fin3
Transfers and Servicing of Financial Assets (Including Mortgage Banking Activity) - Schedule of Mortgage Servicing Rights at Carrying Values (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $52,280 | $46,754 |
Accumulated Amortization | -35,423 | -31,415 |
Net Carrying Amount | 16,857 | 15,339 |
Mortgage Servicing Rights [Member] | ' | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 2,787 | 2,146 |
Accumulated Amortization | -1,020 | -638 |
Net Carrying Amount | $1,767 | $1,508 |
Goodwill_and_Other_Acquired_In2
Goodwill and Other Acquired Intangible Assets - Schedule of Carrying Amount of Goodwill (Detail) (USD $) | 9 Months Ended | 9 Months Ended | 9 Months Ended | |||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Jan. 17, 2014 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2012 |
IBERIABANK [Member] | IBERIABANK [Member] | IMC [Member] | IMC [Member] | IMC [Member] | LTC [Member] | LTC [Member] | ||||
Goodwill And Other Intangibles [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, December 31, 2012 | $401,872 | $8,600 | $401,872 | $373,905 | $373,905 | $23,178 | $23,178 | $23,178 | $4,789 | $4,789 |
Goodwill acquired during the period | 124,370 | ' | ' | 123,995 | ' | ' | ' | ' | 375 | ' |
Balance, December 31, 2013 | $526,242 | $8,600 | $401,872 | $497,900 | $373,905 | $23,178 | $23,178 | $23,178 | $5,164 | $4,789 |
Goodwill_and_Other_Acquired_In3
Goodwill and Other Acquired Intangible Assets - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' |
Title plant assets | $6.70 | $6.70 |
Goodwill_and_Other_Acquired_In4
Goodwill and Other Acquired Intangible Assets - Schedule of Definite-Lived Intangible Assets (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $52,280 | $46,754 |
Accumulated Amortization | -35,423 | -31,415 |
Net Carrying Amount | 16,857 | 15,339 |
Core Deposit Intangibles [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 50,564 | 45,406 |
Accumulated Amortization | -34,564 | -30,784 |
Net Carrying Amount | 16,000 | 14,622 |
Customer Relationship Intangible Asset [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 1,348 | 1,348 |
Accumulated Amortization | -777 | -631 |
Net Carrying Amount | 571 | 717 |
Noncompete Agreements [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 163 | ' |
Accumulated Amortization | -53 | ' |
Net Carrying Amount | 110 | ' |
Other Intangible Assets [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 205 | ' |
Accumulated Amortization | -29 | ' |
Net Carrying Amount | $176 | ' |
Other_Real_Estate_Owned_Schedu
Other Real Estate Owned - Schedule of Other Real Estate Owned Segregated into Non-Covered and Covered Properties (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Real Estate Properties [Line Items] | ' | ' |
Real estate owned acquired by foreclosure | $49,618 | $88,546 |
Real estate acquired for development or resale | 12,734 | 9,206 |
Other foreclosed property | 1,034 | 1,421 |
Total other real estate owned and foreclosed property | 63,386 | 99,173 |
Non-covered Properties [Member] | ' | ' |
Real Estate Properties [Line Items] | ' | ' |
Real estate owned acquired by foreclosure | 18,627 | 28,072 |
Real estate acquired for development or resale | 12,734 | 9,206 |
Other foreclosed property | 63 | 93 |
Total other real estate owned and foreclosed property | 31,424 | 37,371 |
Covered Properties [Member] | ' | ' |
Real Estate Properties [Line Items] | ' | ' |
Real estate owned acquired by foreclosure | 30,991 | 60,474 |
Real estate acquired for development or resale | ' | ' |
Other foreclosed property | 971 | 1,328 |
Total other real estate owned and foreclosed property | $31,962 | $61,802 |
Other_Real_Estate_Owned_Schedu1
Other Real Estate Owned - Schedule of Other Real Estate Owned Segregated into Non-Covered and Covered Properties (Parenthetical) (Detail) (USD $) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
Statement of Financial Position [Abstract] | ' |
Covered other real estate owned | $20.60 |
Derivative_Instruments_and_Oth2
Derivative Instruments and Other Hedging Activities - Schedule of Outstanding Derivative Instruments (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative Asset, Notional Amount | $872,952 | $868,604 |
Derivative Liability, Notional Amount | 970,428 | 624,455 |
Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative Asset, Notional Amount | 872,952 | 868,604 |
Derivative Liability, Notional Amount | 970,428 | 624,455 |
Not Designated as Hedging Instruments [Member] | Interest Rate Contracts [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative Asset, Notional Amount | 421,523 | 380,303 |
Derivative Liability, Notional Amount | 421,523 | 380,303 |
Not Designated as Hedging Instruments [Member] | Forward Sales Contracts [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative Asset, Notional Amount | 88,190 | 192,876 |
Derivative Liability, Notional Amount | 351,861 | 45,091 |
Not Designated as Hedging Instruments [Member] | Written and Purchased Options [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative Asset, Notional Amount | 363,239 | 295,425 |
Derivative Liability, Notional Amount | 197,044 | 199,061 |
Other Assets [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative Asset, Fair Value | 32,290 | 30,076 |
Other Assets [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative Asset, Fair Value | 32,290 | 30,076 |
Other Assets [Member] | Not Designated as Hedging Instruments [Member] | Interest Rate Contracts [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative Asset, Fair Value | 11,839 | 10,621 |
Other Assets [Member] | Not Designated as Hedging Instruments [Member] | Forward Sales Contracts [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative Asset, Fair Value | 104 | 1,468 |
Other Assets [Member] | Not Designated as Hedging Instruments [Member] | Written and Purchased Options [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative Asset, Fair Value | 20,347 | 17,987 |
Other Liabilities [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative Liability, Fair Value | 29,840 | 26,735 |
Other Liabilities [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative Liability, Fair Value | 29,840 | 26,735 |
Other Liabilities [Member] | Not Designated as Hedging Instruments [Member] | Interest Rate Contracts [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative Liability, Fair Value | 11,839 | 10,620 |
Other Liabilities [Member] | Not Designated as Hedging Instruments [Member] | Forward Sales Contracts [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative Liability, Fair Value | 2,215 | 287 |
Other Liabilities [Member] | Not Designated as Hedging Instruments [Member] | Written and Purchased Options [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative Liability, Fair Value | $15,786 | $15,828 |
Derivative_Instruments_and_Oth3
Derivative Instruments and Other Hedging Activities - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ' |
Cash as collateral for derivative transactions | $8.40 | $5 |
Fair value of derivatives | $0.10 | ' |
Derivative_Instruments_and_Oth4
Derivative Instruments and Other Hedging Activities - Reconciliation of Gross Amounts in Consolidated Balance Sheets (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts | $27,262 | $26,422 |
Derivative liabilities subject to master netting arrangements, Gross Amounts | 11,839 | 10,620 |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | 27,262 | 26,422 |
Derivative liabilities subject to master netting arrangements, Gross Amounts Not Offset | 7,947 | 5,201 |
Collateral [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative liabilities subject to master netting arrangements, Gross Amounts Not Offset | -3,892 | -5,419 |
Interest Rate Contracts [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts | 11,839 | 10,621 |
Derivative liabilities subject to master netting arrangements, Gross Amounts | 11,839 | 10,620 |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | 11,839 | 10,621 |
Derivative liabilities subject to master netting arrangements, Gross Amounts Not Offset | 7,947 | 5,201 |
Interest Rate Contracts [Member] | Collateral [Member] | Not Designated as Hedging Instruments [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative liabilities subject to master netting arrangements, Gross Amounts Not Offset | -3,892 | -5,419 |
Written and Purchased Options [Member] | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' |
Derivative assets subject to master netting arrangements, Gross Amounts | 15,423 | 15,801 |
Derivative assets subject to master netting arrangements, Gross Amounts Not Offset | $15,423 | $15,801 |
Derivative_Instruments_and_Oth5
Derivative Instruments and Other Hedging Activities - Effect of Hedging Instruments on Consolidated Financial Statements (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' | ' |
Amount of Gain (Loss) Recognized in OCI net of taxes (Effective Portion) | ' | ' | ' | ' |
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | ' | ' | ' | -392 |
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 | ' | ' | -1 | 209 |
Not Designated as Hedging Instruments [Member] | ' | ' | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivatives | -2,469 | -2,545 | -3,140 | -381 |
Not Designated as Hedging Instruments [Member] | Interest Rate Contracts [Member] | Other Income (Expense) [Member] | ' | ' | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivatives | 406 | 2,061 | 1,971 | 2,542 |
Not Designated as Hedging Instruments [Member] | Forward Sale Contracts [Member] | Mortgage Income [Member] | ' | ' | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivatives | -3,648 | 3,290 | -7,512 | 897 |
Not Designated as Hedging Instruments [Member] | Written and Purchased Options [Member] | Mortgage Income [Member] | ' | ' | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivatives | 773 | -7,896 | 2,401 | -3,820 |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | ' | ' | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' | ' |
Amount of Gain (Loss) Recognized in OCI net of taxes (Effective Portion) | ' | ' | ' | ' |
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | ' | ' | ' | -392 |
Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) | ' | ' | ($1) | ' |
Shareholders_Equity_and_Other_2
Shareholders' Equity and Other Comprehensive Income (Loss) - Summary of Tax Effects of Each Component of Other Comprehensive Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Equity [Abstract] | ' | ' | ' | ' |
Unrealized holding gains/losses arising during the period, Before-Tax Amount | ($7,032) | $5,528 | $25,586 | ($38,769) |
Less: reclassification adjustment for losses/gains included in net income, Before-Tax Amount | -582 | 3 | -609 | -2,259 |
Net unrealized losses/gains, Before-Tax Amount | -7,614 | 5,531 | 24,977 | -41,028 |
Change in fair value of derivative instruments designated as cash flow hedges during the period, Before-Tax Amount | ' | ' | ' | 952 |
Less: reclassification adjustment for gains/losses included in net income, Before-Tax Amount | ' | ' | ' | 392 |
Fair value of derivative instruments designated as cash flow hedges, Before-Tax Amount | ' | ' | ' | 1,344 |
Total other comprehensive income/loss, Before-Tax Amount | -7,614 | 5,531 | 24,977 | -39,684 |
Unrealized holding gains/losses arising during the period, Tax Expense (Benefit) | 2,461 | -1,935 | -8,955 | 13,569 |
Less: reclassification adjustment for losses/gain included in net income, Tax Expense (Benefit) | 204 | -1 | 213 | 791 |
Net unrealized gains/losses, Tax Expense (Benefit) | 2,665 | -1,936 | -8,742 | 14,360 |
Change in fair value of derivative instruments designated as cash flow hedges during the period, Tax Expense (Benefit) | ' | ' | ' | -333 |
Less: reclassification adjustment for gains/losses included in net income, Tax Expense (Benefit) | ' | ' | ' | -137 |
Fair value of derivative instruments designated as cash flow hedges, Tax Expense (Benefit) | ' | ' | ' | -470 |
Total other comprehensive income/loss, Tax Expense (Benefit) | 2,665 | -1,936 | -8,742 | 13,890 |
Unrealized holding gains/losses arising during the period, Net-of-Tax Amount | -4,571 | 3,593 | 16,631 | -25,200 |
Less: reclassification adjustment for gains/losses included in net income, Net-of-Tax Amount | -378 | 2 | -396 | -1,468 |
Net unrealized gains/losses, Net-of-Tax Amount | -4,949 | 3,595 | 16,235 | -26,668 |
Change in fair value of derivative instruments designated as cash flow hedges during the period, Net-of-Tax Amount | ' | ' | ' | 619 |
Less: reclassification adjustment for gains/losses included in net income, Net-of-Tax Amount | ' | ' | ' | 255 |
Fair value of derivative instruments designated as cash flow hedges, Net-of-Tax Amount | ' | ' | ' | 874 |
Other comprehensive income (loss), net of tax | ($4,949) | $3,595 | $16,235 | ($25,794) |
Capital_Requirements_and_Other2
Capital Requirements and Other Regulatory Matters - Actual Capital Amounts and Ratios (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Consolidated [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tier 1 Leverage, Minimum Amount | $596,945 | $507,760 |
Tier 1 risk-based capital, Minimum Amount | 490,391 | 426,002 |
Total risk-based capital, Minimum Amount | 980,781 | 852,005 |
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 | 1,376,283 | 1,231,886 |
Tier 1 risk-based capital, Actual Amount | 1,376,283 | 1,231,886 |
Total risk-based capital, Actual Amount | 1,522,932 | 1,365,280 |
Tier 1 Leverage, Actual Ratio | 9.22% | 9.70% |
Tier 1 risk-based capital, Actual Ratio | 11.23% | 11.57% |
Total risk-based capital, Actual Ratio | 12.42% | 12.82% |
IBERIABANK [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tier 1 Leverage, Minimum Amount | 594,578 | 505,723 |
Tier 1 risk-based capital, Minimum Amount | 489,049 | 424,578 |
Total risk-based capital, Minimum Amount | 978,099 | 849,157 |
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 | 743,223 | 632,154 |
Tier 1 risk-based capital, Well Capitalized Amount | 733,574 | 636,868 |
Total risk-based capital, Well Capitalized Amount | 1,222,624 | 1,061,446 |
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 | 1,225,980 | 1,069,783 |
Tier 1 risk-based capital, Actual Amount | 1,225,980 | 1,069,783 |
Total risk-based capital, Actual Amount | $1,372,629 | $1,202,738 |
Tier 1 Leverage, Actual Ratio | 8.25% | 8.46% |
Tier 1 risk-based capital, Actual Ratio | 10.03% | 10.08% |
Total risk-based capital, Actual Ratio | 11.23% | 11.33% |
ShareBased_Compensation_Additi
Share-Based Compensation - Additional Information (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Equity awards settled in cash | $0 | $0 |
Share-based compensation maximum option term (in years) | '10 years | ' |
Future awards shares under approved incentive compensation plans | 1,040,092 | ' |
Minimum vesting period (in years) | '1 year 6 months | ' |
Maximum vesting period (in years) | '7 years | ' |
Excess tax benefits as financing cash inflows | 1,163,000 | 495,000 |
Net cash proceeds from exercise of stock options | 11,141,000 | 5,441,000 |
Aggregate intrinsic value of shares underlying outstanding stock options | 6,800,000 | ' |
Aggregate intrinsic value of shares underlying exercisable stock options | 4,400,000 | ' |
Total intrinsic value of options exercised | 4,100,000 | 1,900,000 |
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 | ' |
Employee Stock Option [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Unearned share-based compensation associated with awards | 3,700,000 | ' |
Unrecognized compensation cost related to stock options expected to be recognized over a weighted-average period | '5 years 2 months 12 days | ' |
Restricted Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Unearned share-based compensation associated with awards | $22,200,000 | $23,300,000 |
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 Non-Interest Expense and Related Income Tax Benefits (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' | ' |
Compensation expense related to stock options | $508 | $526 | $1,545 | $1,592 |
Income tax benefit related to stock options | $178 | $184 | $541 | $557 |
Impact on basic earnings per share | $0.01 | $0.01 | $0.03 | $0.03 |
Impact on diluted earnings per share | $0.01 | $0.01 | $0.03 | $0.03 |
ShareBased_Compensation_Estima
Share-Based Compensation - Estimate Fair Value of Share-Based Awards with Weighted-Average Assumptions (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' |
Expected dividends | 2.10% | 2.60% |
Expected volatility | 35.80% | 34.80% |
Risk-free interest rate | 2.30% | 1.70% |
Expected term (in years) | '7 years 6 months | '8 years 7 months 6 days |
Weighted-average grant-date fair value | $21.25 | $15.37 |
ShareBased_Compensation_Activi
Share-Based Compensation - Activity Related to Stock Options (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' | ' |
Number of shares, Outstanding options, Beginning balance | 1,072,829 | 1,236,075 |
Number of shares, Outstanding options, Granted | 77,098 | 75,722 |
Number of shares, Outstanding options, Exercised | -234,363 | -142,841 |
Number of shares, Outstanding options, Forfeited or expired | -13,446 | -36,608 |
Number of shares, Outstanding options, Ending balance | 902,118 | 1,132,348 |
Number of shares, Exercisable options | 581,423 | 749,545 |
Weighted Average Exercise Price, Outstanding options, Beginning balance | $53.47 | $51.48 |
Weighted Average Exercise Price, Outstanding options, Granted | $65.30 | $52.36 |
Weighted Average Exercise Price, Outstanding options, Exercised | $48.36 | $38.09 |
Weighted Average Exercise Price, Outstanding options, Forfeited or expired | $60.82 | $56.01 |
Weighted Average Exercise Price, Outstanding options, Ending balance | $55.70 | $53.09 |
Weighted Average Exercise Price, Exercisable options | $55.65 | $52.94 |
Weighted Average Remaining Contract Life, Outstanding options | '5 years 2 months 12 days | '4 years 8 months 12 days |
Weighted Average Remaining Contract Life, Exercisable options | '3 years 9 months 18 days | '3 years 2 months 12 days |
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 $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Restricted Stock [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Compensation expense related to restricted stock | $2,497 | $2,212 | $7,382 | $6,407 |
ShareBased_Compensation_Unvest
Share-Based Compensation - Unvested Restricted Stock Award Activity (Detail) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' |
Balance at beginning of period | 523,756 | 538,202 |
Granted | 146,547 | 166,223 |
Forfeited | -18,171 | -27,483 |
Earned and issued | -152,112 | -136,629 |
Balance at end of period | 500,020 | 540,313 |
ShareBased_Compensation_Compen2
Share-Based Compensation - Compensation Expense of Phantom Stock (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Compensation expense related to phantom stock | $508 | $526 | $1,545 | $1,592 |
Phantom Stock Awards [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Compensation expense related to phantom stock | $619 | $792 | $3,692 | $2,602 |
ShareBased_Compensation_Schedu
Share-Based Compensation - Schedule of Share and Dividend Equivalent Share Award Activity (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' |
Number of share equivalents, Beginning Balance | 417,238 | 318,729 |
Number of share equivalents, Granted | 115,620 | 166,664 |
Number of share equivalents, Forfeited share equivalents | -19,498 | -16,381 |
Number of share equivalents, Vested share equivalents | -68,480 | -45,065 |
Number of share equivalents, Ending Balance | 444,880 | 423,947 |
Dividend equivalents, Beginning Balance | 22,351 | 16,035 |
Dividend equivalents, Granted | 7,147 | 8,793 |
Dividend equivalents, Forfeited share equivalents | -1,751 | -681 |
Dividend equivalents, Vested share equivalents | -6,615 | -3,327 |
Dividend equivalents, Ending Balance | 21,132 | 20,820 |
Total share equivalents, Beginning Balance | 439,589 | 334,764 |
Total share equivalents, Granted | 122,767 | 175,457 |
Total share equivalents, Forfeited share equivalents | -21,249 | -17,062 |
Total share equivalents, Vested share equivalents | -75,095 | -48,392 |
Total share equivalents, Ending Balance | 466,012 | 444,767 |
Value of share equivalents, Beginning Balance | $27,628,000 | $16,444,000 |
Value of share equivalents, Granted | 7,674,000 | 9,108,000 |
Value of share equivalents, Forfeited share equivalents | -1,328,000 | -886,000 |
Value of share equivalents, Vested share equivalents | -5,002,000 | -2,453,000 |
Value of share equivalents, Ending Balance | $29,130,000 | $23,088,000 |
ShareBased_Compensation_Schedu1
Share-Based Compensation - Schedule of Share and Dividend Equivalent Share Award Activity (Parenthetical) (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' |
Market price of Company's stock | $62.51 | $51.91 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Commitments and Contingencies Disclosure [Abstract] | ' | ' |
Fair value of guarantees under commercial and standby letters of credit | $1.30 | $1.10 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Summary of Financial Instruments Outstanding (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Loss Contingencies [Line Items] | ' | ' | ' |
Reserve for unfunded lending commitments | $12,099 | $11,147 | $11,959 |
Credit Risk Contract [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Commitments to grant loans | 242,137 | 221,627 | ' |
Unfunded commitments under lines of credit | 3,834,107 | 3,326,448 | ' |
Commercial and standby letters of credit | 131,347 | 105,026 | ' |
Reserve for unfunded lending commitments | $12,099 | $11,147 | ' |
Fair_Value_Measurements_Summar
Fair Value Measurements - Summary of Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance for Mortgage Loans Held for Sale (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Fair Value Disclosures [Abstract] | ' | ' |
Mortgage loans held for sale, at fair value, Aggregate Fair Value | $148,530 | $97,273 |
Mortgage loans held for sale, at fair value, Aggregate Unpaid Principal | 142,381 | 96,875 |
Mortgage loans held for sale, at fair value, Aggregate Fair Value Less Unpaid Principal | $6,149 | $398 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | |
Branch | Branch | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Total mortgage income (loss) in the consolidated statement of comprehensive income | ($1,600,000) | $0 | ' | $4,000,000 | $0 | ' | ' |
Impaired non-covered loans with an outstanding balance | 1,100,000 | ' | ' | 1,100,000 | ' | ' | 4,100,000 |
Reserve in allowance for credit losses | 25,000 | ' | ' | 25,000 | ' | ' | 1,000,000 |
Company announced plans to close branches | ' | ' | 10 | ' | ' | ' | ' |
Number of branches closed | ' | ' | ' | ' | ' | 9 | ' |
Book value of company's closed branches after impairment losses | 3,100,000 | ' | ' | 3,100,000 | ' | ' | 5,100,000 |
Available-for-sale Securities [Member] | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Fair value assets transferred from Level 1 to Level 2 | 14,700,000 | ' | ' | 14,700,000 | ' | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Fair value of liabilities | $0 | ' | ' | $0 | ' | ' | $0 |
Fair_Value_Measurements_Financ
Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities, Assets | $2,103,828,000 | $1,936,797,000 |
Mortgage loans held for sale, Assets | 148,530,000 | 97,273,000 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities, Assets | 2,103,828,000 | 1,936,797,000 |
Mortgage loans held for sale, Assets | 148,530,000 | 97,273,000 |
Derivative instruments, Assets | 32,290,000 | 30,076,000 |
Total, Assets | 2,284,648,000 | 2,064,146,000 |
Derivative instruments, Liabilities | 29,840,000 | 26,735,000 |
Total, Liabilities | 29,840,000 | 26,735,000 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities, Assets | 46,261,000 | 15,496,000 |
Mortgage loans held for sale, Assets | ' | ' |
Derivative instruments, Assets | ' | ' |
Total, Assets | 46,261,000 | 15,496,000 |
Derivative instruments, Liabilities | ' | ' |
Total, Liabilities | ' | ' |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities, Assets | 2,057,567,000 | 1,921,301,000 |
Mortgage loans held for sale, Assets | 148,530,000 | 97,273,000 |
Derivative instruments, Assets | 32,290,000 | 30,076,000 |
Total, Assets | 2,238,387,000 | 2,048,650,000 |
Derivative instruments, Liabilities | 29,840,000 | 26,735,000 |
Total, Liabilities | 29,840,000 | 26,735,000 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [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 $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Noninterest Income [Member] | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Total gains (losses) included in earnings (or changes in net assets) | ($1,697) |
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 September 30, 2014 | $16,235 |
Fair_Value_Measurements_Financ1
Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Mortgage loans held for sale, Assets | $148,530 | $97,273 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans, Assets | 1,086 | 3,070 |
Mortgage loans held for sale, Assets | ' | 11,876 |
OREO, Assets | 6,974 | 14,598 |
Total, Assets | 8,060 | 29,544 |
Fair Value, Measurements, Nonrecurring [Member] | Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans, Assets | ' | ' |
Mortgage loans held for sale, Assets | ' | ' |
OREO, Assets | ' | ' |
Total, Assets | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans, Assets | 1,086 | 3,070 |
Mortgage loans held for sale, Assets | ' | 11,876 |
OREO, Assets | 6,974 | 14,598 |
Total, Assets | 8,060 | 29,544 |
Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans, Assets | ' | ' |
Mortgage loans held for sale, Assets | ' | ' |
OREO, Assets | ' | ' |
Total, Assets | ' | ' |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2014 | |
Fair Value Disclosures [Abstract] | ' |
Short-term borrowings maturity period | '90 days |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Estimated Fair Values and Carrying Amounts of Financial Instruments (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Financial Assets | ' | ' | ' | ' |
Cash and cash equivalents | $668,007 | $391,396 | $553,448 | $970,977 |
Loans and loans held for sale | 11,227,729 | ' | 9,151,322 | ' |
FDIC loss share receivable | 94,712 | 162,312 | ' | ' |
Financial Liabilities | ' | ' | ' | ' |
Deposits | 12,377,775 | 10,737,000 | 10,950,764 | ' |
Short-term borrowings | 812,783 | 680,344 | ' | ' |
Long-term debt | 355,569 | 280,699 | ' | ' |
Carrying Amount [Member] | ' | ' | ' | ' |
Financial Assets | ' | ' | ' | ' |
Cash and cash equivalents | 668,007 | 391,396 | ' | ' |
Investment securities | 2,224,348 | 2,090,906 | ' | ' |
Loans and loans held for sale | 11,227,729 | 9,620,461 | ' | ' |
FDIC loss share receivable | 94,712 | 162,312 | ' | ' |
Derivative instruments | 32,290 | 30,076 | ' | ' |
Accrued interest receivable | 37,143 | 32,143 | ' | ' |
Financial Liabilities | ' | ' | ' | ' |
Deposits | 12,377,775 | 10,737,000 | ' | ' |
Short-term borrowings | 812,783 | 680,344 | ' | ' |
Long-term debt | 355,569 | 280,699 | ' | ' |
Derivative instruments | 29,840 | 26,735 | ' | ' |
Accrued interest payable | 7,972 | 6,102 | ' | ' |
Fair Value [Member] | ' | ' | ' | ' |
Financial Assets | ' | ' | ' | ' |
Cash and cash equivalents | 668,007 | 391,396 | ' | ' |
Investment securities | 2,226,286 | 2,089,363 | ' | ' |
Loans and loans held for sale | 11,247,080 | 9,724,432 | ' | ' |
FDIC loss share receivable | 27,922 | 21,918 | ' | ' |
Derivative instruments | 32,290 | 30,076 | ' | ' |
Accrued interest receivable | 37,143 | 32,143 | ' | ' |
Financial Liabilities | ' | ' | ' | ' |
Deposits | 11,986,233 | 10,226,573 | ' | ' |
Short-term borrowings | 812,783 | 680,344 | ' | ' |
Long-term debt | 324,282 | 235,503 | ' | ' |
Derivative instruments | 29,840 | 26,735 | ' | ' |
Accrued interest payable | $7,972 | $6,102 | ' | ' |
Business_Segments_Additional_I
Business Segments - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2014 | |
Segment | |
Segment Reporting [Abstract] | ' |
No of business segments | 3 |
Business_Segments_Schedule_of_
Business Segments - Schedule of Segment Reporting Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Interest income | $133,167 | $108,512 | $366,619 | $323,105 | ' |
Interest expense | 12,126 | 11,060 | 32,192 | 36,299 | ' |
Net interest income | 121,041 | 97,452 | 334,427 | 286,806 | ' |
Provision for loan losses | 5,714 | 2,014 | 12,565 | 445 | ' |
Mortgage income | 12,814 | 15,202 | 40,903 | 51,841 | ' |
Title income | 5,577 | 5,482 | 15,007 | 16,199 | ' |
Other non-interest income | 27,272 | 22,579 | 73,397 | 62,202 | ' |
Core deposit intangible amortization | 1,429 | 1,125 | 3,779 | 3,375 | ' |
Other non-interest expenses | 118,631 | 107,027 | 351,084 | 367,035 | ' |
Income before income tax expense | 40,930 | 30,549 | 96,306 | 46,193 | ' |
Income tax expense (benefit) | 11,186 | 7,357 | 25,619 | 6,694 | ' |
Net income (loss) | 29,744 | 23,192 | 70,687 | 39,499 | ' |
Total loans and loans held for sale | 11,227,729 | 9,151,322 | 11,227,729 | 9,151,322 | ' |
Total assets | 15,516,609 | 13,145,077 | 15,516,609 | 13,145,077 | 13,365,550 |
Total deposits | 12,377,775 | 10,950,764 | 12,377,775 | 10,950,764 | 10,737,000 |
Average assets | 15,478,406 | 12,944,435 | 14,302,151 | 12,966,519 | ' |
IBERIABANK [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Interest income | 131,362 | 107,051 | 362,054 | 318,646 | ' |
Interest expense | 11,501 | 10,731 | 30,869 | 34,786 | ' |
Net interest income | 119,861 | 96,320 | 331,185 | 283,860 | ' |
Provision for loan losses | 5,621 | 1,868 | 12,481 | 320 | ' |
Mortgage income | -5 | 5 | 80 | 2 | ' |
Other non-interest income | 27,311 | 22,579 | 73,460 | 62,206 | ' |
Core deposit intangible amortization | 1,429 | 1,125 | 3,779 | 3,375 | ' |
Allocated expenses | -2,386 | -2,658 | -9,110 | -4,402 | ' |
Other non-interest expenses | 102,692 | 90,858 | 305,121 | 315,332 | ' |
Income before income tax expense | 39,811 | 27,711 | 92,454 | 31,443 | ' |
Income tax expense (benefit) | 10,739 | 6,228 | 24,081 | 884 | ' |
Net income (loss) | 29,072 | 21,483 | 68,373 | 30,559 | ' |
Total loans and loans held for sale | 11,055,809 | 9,024,959 | 11,055,809 | 9,024,959 | ' |
Total assets | 15,288,157 | 12,965,373 | 15,288,157 | 12,965,373 | ' |
Total deposits | 12,371,606 | 10,946,453 | 12,371,606 | 10,946,453 | ' |
Average assets | 15,239,174 | 12,761,165 | 14,097,930 | 12,747,602 | ' |
IMC [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Interest income | 1,804 | 1,459 | 4,563 | 4,428 | ' |
Interest expense | 625 | 329 | 1,323 | 1,513 | ' |
Net interest income | 1,179 | 1,130 | 3,240 | 2,915 | ' |
Provision for loan losses | 93 | 146 | 84 | 125 | ' |
Mortgage income | 12,819 | 15,197 | 40,823 | 51,839 | ' |
Other non-interest income | -37 | ' | -61 | -4 | ' |
Allocated expenses | 1,697 | 1,933 | 6,432 | 3,213 | ' |
Other non-interest expenses | 11,624 | 12,016 | 33,558 | 38,942 | ' |
Income before income tax expense | 547 | 2,232 | 3,928 | 12,470 | ' |
Income tax expense (benefit) | 217 | 877 | 1,552 | 4,897 | ' |
Net income (loss) | 330 | 1,355 | 2,376 | 7,573 | ' |
Total loans and loans held for sale | 171,920 | 126,363 | 171,920 | 126,363 | ' |
Total assets | 202,923 | 153,402 | 202,923 | 153,402 | ' |
Total deposits | 6,169 | 4,311 | 6,169 | 4,311 | ' |
Average assets | 213,936 | 157,144 | 179,218 | 193,463 | ' |
LTC [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Interest income | 1 | 2 | 2 | 31 | ' |
Net interest income | 1 | 2 | 2 | 31 | ' |
Title income | 5,577 | 5,482 | 15,007 | 16,199 | ' |
Other non-interest income | -2 | ' | -2 | ' | ' |
Allocated expenses | 689 | 725 | 2,678 | 1,189 | ' |
Other non-interest expenses | 4,315 | 4,153 | 12,405 | 12,761 | ' |
Income before income tax expense | 572 | 606 | -76 | 2,280 | ' |
Income tax expense (benefit) | 230 | 252 | -14 | 913 | ' |
Net income (loss) | 342 | 354 | -62 | 1,367 | ' |
Total assets | 25,529 | 26,302 | 25,529 | 26,302 | ' |
Average assets | $25,296 | $26,126 | $25,003 | $25,454 | ' |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (Subsequent Events [Member], USD $) | 3 Months Ended | |
Dec. 30, 2014 | Dec. 31, 2014 | |
Florida Bank Group, Inc. [Member] | Old Florida Bancshares, Inc. [Member] | |
Subsequent Event [Line Items] | ' | ' |
Cash paid per share | $7.81 | ' |
Shares received | 0.149 | 0.34 |