Loans (Tables)
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9 Months Ended |
Sep. 30, 2015 |
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| Loans and Leases Receivable Disclosure [Abstract] |
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| Summary of Loan Portfolio |
The following table shows the Company’s loan portfolio by category as of the dates shown: | | | | | | | | | | | | | | September 30, | | December 31, | | September 30, | (Dollars in thousands) | 2015 | | 2014 | | 2014 | Balance: | | | | | | Commercial | $ | 4,400,185 |
| | $ | 3,924,394 |
| | $ | 3,689,671 |
| Commercial real estate | 5,307,566 |
| | 4,505,753 |
| | 4,510,375 |
| Home equity | 797,465 |
| | 716,293 |
| | 720,058 |
| Residential real estate | 571,743 |
| | 483,542 |
| | 470,319 |
| Premium finance receivables—commercial | 2,407,075 |
| | 2,350,833 |
| | 2,377,892 |
| Premium finance receivables—life insurance | 2,700,275 |
| | 2,277,571 |
| | 2,134,405 |
| Consumer and other | 131,902 |
| | 151,012 |
| | 149,339 |
| Total loans, net of unearned income, excluding covered loans | $ | 16,316,211 |
| | $ | 14,409,398 |
| | $ | 14,052,059 |
| Covered loans | 168,609 |
| | 226,709 |
| | 254,605 |
| Total loans | $ | 16,484,820 |
| | $ | 14,636,107 |
| | $ | 14,306,664 |
| Mix: | | | | | | Commercial | 27 | % | | 26 | % | | 26 | % | Commercial real estate | 32 |
| | 31 |
| | 31 |
| Home equity | 5 |
| | 5 |
| | 5 |
| Residential real estate | 3 |
| | 3 |
| | 3 |
| Premium finance receivables—commercial | 15 |
| | 16 |
| | 17 |
| Premium finance receivables—life insurance | 16 |
| | 16 |
| | 15 |
| Consumer and other | 1 |
| | 1 |
| | 1 |
| Total loans, net of unearned income, excluding covered loans | 99 | % | | 98 | % | | 98 | % | Covered loans | 1 |
| | 2 |
| | 2 |
| Total loans | 100 | % | | 100 | % | | 100 | % |
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| Schedule of Unpaid Principal Balance and Carrying Value of Acquired Loans |
The following table presents the unpaid principal balance and carrying value for these acquired loans: | | | | | | | | | | | | | | | | | | September 30, 2015 | | December 31, 2014 | | Unpaid Principal | | Carrying | | Unpaid Principal | | Carrying | (Dollars in thousands) | Balance | | Value | | Balance | | Value | Bank acquisitions | $ | 356,615 |
| | $ | 295,801 |
| | $ | 285,809 |
| | $ | 227,229 |
| Life insurance premium finance loans acquisition | 378,040 |
| | 373,586 |
| | 399,665 |
| | 393,479 |
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| Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period |
The following table provides estimated details as of the date of acquisition on loans acquired in 2015 with evidence of credit quality deterioration since origination: | | | | | | | | | | | | | | | | | (Dollars in thousands) | North Bank | | CBWGE | | Suburban | | Delavan | Contractually required payments including interest | $ | 8,563 |
| | $ | 38,656 |
| | $ | 95,804 |
| | $ | 15,791 |
| Less: Nonaccretable difference | 1,027 |
| | 4,437 |
| | 13,888 |
| | 1,442 |
| Cash flows expected to be collected (1) | 7,536 |
| | 34,219 |
| | 81,916 |
| | 14,349 |
| Less: Accretable yield | 866 |
| | 2,895 |
| | 5,334 |
| | 898 |
| Fair value of PCI loans acquired | 6,670 |
| | 31,324 |
| | 76,582 |
| | 13,451 |
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(1) Represents undiscounted expected principal and interest cash at acquisition. |
| Activity Related to Accretable Yield of Loans Acquired With Evidence of Credit Quality Deterioratio Since Origination |
The following table provides activity for the accretable yield of PCI loans: | | | | | | | | | | | | | | | | |
| Three Months Ended | | Nine Months Ended | (Dollars in thousands) | September 30, 2015 |
| September 30, 2014 |
| September 30, 2015 |
| September 30, 2014 | Accretable yield, beginning balance | $ | 63,643 |
| | $ | 97,281 |
| | $ | 79,102 |
| | $ | 115,909 |
| Acquisitions | 9,095 |
| | — |
| | 9,993 |
| | — |
| Accretable yield amortized to interest income | (5,939 | ) | | (7,847 | ) | | (18,359 | ) | | (28,438 | ) | Accretable yield amortized to indemnification asset (1) | (3,280 | ) | | (8,784 | ) | | (10,945 | ) | | (25,593 | ) | Reclassification from non-accretable difference (2) | 2,298 |
| | 2,584 |
| | 5,154 |
| | 29,092 |
| Increases (decreases) in interest cash flows due to payments and changes in interest rates | (610 | ) | | 4,675 |
| | 262 |
| | (3,061 | ) | Accretable yield, ending balance (3) | $ | 65,207 |
| | $ | 87,909 |
| | $ | 65,207 |
| | $ | 87,909 |
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| | (1) | Represents the portion of the current period accreted yield, resulting from lower expected losses, applied to reduce the loss share indemnification asset. |
| | (2) | Reclassification is the result of subsequent increases in expected principal cash flows. |
| | (3) | As of September 30, 2015, the Company estimates that the remaining accretable yield balance to be amortized to the indemnification asset for the bank acquisitions is $10.0 million. The remainder of the accretable yield related to bank acquisitions is expected to be amortized to interest income. |
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