Loans and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2017

Loans and Allowance for Loan Losses [Abstract]

Schedule of Current, Accruing Past Due, and Nonaccrual Loans

The following is a summary of current, accruing past due, and non-accrual loans by portfolio class as of March 31, 2017 and December 31, 2016.



Current, Accruing Past Due, and Non-accrual Loans
	March 31, 2017
(in thousands)	Current		Accruing 30-89 Days Past Due	Accruing 90 Days or Greater Past Due	Total Accruing Past Due	Non-accrual	Total
Investment properties	$	6,009,438	3,574	—	3,574	3,040	6,016,052
1-4 family properties	848,034		4,136	298	4,434	8,803	861,271
Land and development	559,447		8,029	72	8,101	14,352	581,900
Total commercial real estate	7,416,919		15,739	370	16,109	26,195	7,459,223
Commercial, financial and agricultural	6,978,658		16,313	680	16,993	60,381	7,056,032
Owner-occupied	4,650,611		7,559	—	7,559	26,564	4,684,734
Total commercial and industrial	11,629,269		23,872	680	24,552	86,945	11,740,766
Home equity lines	1,558,111		5,961	112	6,073	22,918	1,587,102
Consumer mortgages	2,323,543		7,313	—	7,313	19,874	2,350,730
Credit cards	221,018		1,716	1,615	3,331	—	224,349
Other consumer loans	914,825		4,759	—	4,759	2,434	922,018
Total consumer	5,017,497		19,749	1,727	21,476	45,226	5,084,199
Total loans	$	24,063,685	59,360	2,777	62,137	158,366	24,284,188	⁽¹	⁾

	December 31, 2016
(in thousands)	Current		Accruing 30-89 Days Past Due	Accruing 90 Days or Greater Past Due	Total Accruing Past Due	Non-accrual	Total
Investment properties	$	5,861,198	2,795	—	2,795	5,268	5,869,261
1-4 family properties	873,231		4,801	161	4,962	9,114	887,307
Land and development	591,732		1,441	—	1,441	16,233	609,406
Total commercial real estate	7,326,161		9,037	161	9,198	30,615	7,365,974
Commercial, financial and agricultural	6,846,591		9,542	720	10,262	59,074	6,915,927
Owner-occupied	4,601,356		17,913	244	18,157	16,503	4,636,016
Total commercial and industrial	11,447,947		27,455	964	28,419	75,577	11,551,943
Home equity lines	1,585,228		10,013	473	10,486	21,551	1,617,265
Consumer mortgages	2,265,966		7,876	81	7,957	22,681	2,296,604
Credit cards	229,177		1,819	1,417	3,236	—	232,413
Other consumer loans	809,419		5,771	39	5,810	2,954	818,183
Total consumer	4,889,790		25,479	2,010	27,489	47,186	4,964,465
Total loans	$	23,663,898	61,971	3,135	65,106	153,378	23,882,382	⁽²	⁾

⁽¹⁾Total before net deferred fees and costs of $25.7 million.

⁽²⁾Total before net deferred fees and costs of $26.0 million.

Loan Portfolio Credit Exposure

In the following tables, consumer loans are generally assigned a risk grade similar to the classifications described above; however, upon reaching 90 days and 120 days past due, they are generally downgraded to Substandard and Loss, respectively, in accordance with the FFIEC Uniform Retail Credit Classification and Account Management Policy. Additionally, in accordance with the Interagency Supervisory Guidance on Allowance for Loan and Lease Losses Estimation Practices for Loans and Lines of Credit Secured by Junior Liens on 1-4 Family Residential Properties, the risk grade classifications of consumer loans (home equity lines and consumer mortgages) secured by junior liens on 1-4 family residential properties also consider available information on the payment status of the associated senior lien with other financial institutions.



Loan Portfolio Credit Exposure by Risk Grade
	March 31, 2017
(in thousands)	Pass		Special Mention	Substandard⁽¹⁾	Doubtful⁽²⁾	Loss		Total
Investment properties	$	5,945,008	46,057	24,987	—	—		6,016,052
1-4 family properties	812,321		24,801	23,901	248	—		861,271
Land and development	506,779		44,332	23,876	6,913	—		581,900
Total commercial real estate	7,264,108		115,190	72,764	7,161	—		7,459,223
Commercial, financial and agricultural	6,765,031		138,102	146,329	6,430	140	⁽³⁾	7,056,032
Owner-occupied	4,522,172		50,774	110,378	1,410	—		4,684,734
Total commercial and industrial	11,287,203		188,876	256,707	7,840	140		11,740,766
Home equity lines	1,557,077		—	25,157	2,263	2,605	⁽³⁾	1,587,102
Consumer mortgages	2,329,408		—	20,094	1,061	167	⁽³⁾	2,350,730
Credit cards	222,733		—	391	—	1,225	⁽⁴⁾	224,349
Other consumer loans	919,415		—	2,516	42	45	⁽³⁾	922,018
Total consumer	5,028,633		—	48,158	3,366	4,042		5,084,199
Total loans	$	23,579,944	304,066	377,629	18,367	4,182		24,284,188	⁽⁵	⁾

	December 31, 2016
(in thousands)	Pass		Special Mention	Substandard⁽¹⁾	Doubtful⁽²⁾	Loss		Total
Investment properties	$	5,794,626	43,336	31,299	—	—		5,869,261
1-4 family properties	826,311		33,928	26,790	278	—		887,307
Land and development	514,853		60,205	27,361	6,987	—		609,406
Total commercial real estate	7,135,790		137,469	85,450	7,265	—		7,365,974
Commercial, financial and agricultural	6,642,648		126,268	140,425	6,445	141	⁽³⁾	6,915,927
Owner-occupied	4,462,420		60,856	111,330	1,410	—		4,636,016
Total commercial and industrial	11,105,068		187,124	251,755	7,855	141		11,551,943
Home equity lines	1,589,199		—	22,774	2,892	2,400	⁽³⁾	1,617,265
Consumer mortgages	2,271,916		—	23,268	1,283	137	⁽³⁾	2,296,604
Credit cards	230,997		—	637	—	779	⁽⁴⁾	232,413
Other consumer loans	814,844		—	3,233	42	64	⁽³⁾	818,183
Total consumer	4,906,956		—	49,912	4,217	3,380		4,964,465
Total loans	$	23,147,814	324,593	387,117	19,337	3,521		23,882,382	₍₆	₎

⁽¹⁾ Includes $241.8 million and $256.6 million of Substandard accruing loans at March 31, 2017 and December 31, 2016, respectively.

⁽²⁾ The loans within this risk grade are on non-accrual status. Commercial loans generally have an allowance for loan losses in accordance with ASC 310, and retail loans generally have an allowance for loan losses equal to 50% of the loan amount.

⁽³⁾ The loans within this risk grade are on non-accrual status and have an allowance for loan losses equal to the full loan amount.

⁽⁴⁾Represent amounts that were 120 days past due. These credits are downgraded to the Loss category with an allowance for loan losses equal to the full loan amount and are generally charged off upon reaching 181 days past due in accordance with the FFIEC Uniform Retail Credit Classification and Account Management Policy.

⁽⁵⁾Total before net deferred fees and costs of $25.7 million.

⁽⁶⁾Total before net deferred fees and costs of $26.0 million.

Schedule of Allowances for Loan Losses and Recorded Investment in Loans



Allowance for Loan Losses and Recorded Investment in Loans
	As Of and For The Three Months Ended March 31, 2017
(in thousands)	Commercial Real Estate			Commercial & Industrial		Consumer		Total
Allowance for loan losses:
Beginning balance	$	81,816		125,778		44,164		251,758
Charge-offs	(1,908		)	(6,893	)	(3,934	)	(12,735	)
Recoveries	2,889			1,824		1,104		5,817
Provision for loan losses	(4,483		)	6,387		6,770		8,674
Ending balance⁽¹⁾	$	78,314		127,096		48,104		253,514
Ending balance: individually evaluated for impairment	6,917			11,085		1,705		19,707
Ending balance: collectively evaluated for impairment	$	71,397		116,011		46,399		233,807
Loans:
Ending balance: total loans⁽¹⁾⁽²⁾	$	7,459,223		11,740,766		5,084,199		24,284,188
Ending balance: individually evaluated for impairment	79,203			120,470		35,083		234,756
Ending balance: collectively evaluated for impairment	$	7,380,020		11,620,296		5,049,116		24,049,432

	As Of and For The Three Months Ended March 31, 2016
(in thousands)	Commercial Real Estate			Commercial & Industrial		Consumer		Total
Allowance for loan losses:
Beginning balance	$	87,133		122,989		42,374		252,496
Charge-offs	(1,822		)	(5,525	)	(3,968	)	(11,315	)
Recoveries	1,293			1,264		1,401		3,958
Provision for loan losses	(2,047		)	6,150		5,274		9,377
Ending balance⁽¹⁾	$	84,557		124,878		45,081		254,516
Ending balance: individually evaluated for impairment	17,603			14,033		1,337		32,973
Ending balance: collectively evaluated for impairment	$	66,954		110,845		43,744		221,543
Loans:
Ending balance: total loans⁽¹⁾⁽³⁾	$	7,613,635		10,809,472		4,364,427		22,787,534
Ending balance: individually evaluated for impairment	136,826			123,557		37,402		297,785
Ending balance: collectively evaluated for impairment	$	7,476,809		10,685,915		4,327,025		22,489,749

⁽¹⁾For the three months ended March 31, 2017 and 2016, there were no purchased credit-impaired loans and no allowance for loan losses for purchased credit-impaired loans.

⁽²⁾Total before net deferred fees and costs of $25.7 million.

⁽³⁾Total before net deferred fees and costs of $29.3 million.

Schedule of Impaired Loans

The tables below summarize impaired loans (including accruing TDRs) as of March 31, 2017 and December 31, 2016.



Impaired Loans (including accruing TDRs)
	March 31, 2017				Three Months Ended March 31, 2017
(in thousands)	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
With no related allowance recorded
Investment properties	$	—	—	—	492	—
1-4 family properties	581		2,909	—	612	—
Land and development	2,096		6,868	—	2,096	—
Total commercial real estate	2,677		9,777	—	3,200	—
Commercial, financial and agricultural	20,267		24,000	—	17,495	—
Owner-occupied	9,912		13,156	—	7,552	—
Total commercial and industrial	30,179		37,156	—	25,047	—
Home equity lines	1,064		1,064	—	1,055	—
Consumer mortgages	744		941	—	744	—
Credit cards	—		—	—	—	—
Other consumer loans	—		—	—	—	—
Total consumer	1,808		2,005	—	1,799	—
Total impaired loans with no related allowance recorded	$	34,664	48,938	—	30,046	—
With allowance recorded
Investment properties	$	29,401	29,401	1,749	29,886	291
1-4 family properties	15,964		15,964	441	17,857	136
Land and development	31,161		31,217	4,727	29,564	173
Total commercial real estate	76,526		76,582	6,917	77,307	600
Commercial, financial and agricultural	47,190		49,739	5,994	44,084	351
Owner-occupied	43,101		43,147	5,091	49,559	338
Total commercial and industrial	90,291		92,886	11,085	93,643	689
Home equity lines	8,913		8,913	977	9,207	236
Consumer mortgages	19,541		19,541	584	20,433	91
Credit cards	—		—	—	—	—
Other consumer loans	4,821		4,821	144	4,917	73
Total consumer	33,275		33,275	1,705	34,557	400
Total impaired loans with allowance recorded	$	200,092	202,743	19,707	205,507	1,689
Total impaired loans
Investment properties	$	29,401	29,401	1,749	30,378	291
1-4 family properties	16,545		18,873	441	18,469	136
Land and development	33,257		38,085	4,727	31,660	173
Total commercial real estate	79,203		86,359	6,917	80,507	600
Commercial, financial and agricultural	67,457		73,739	5,994	61,579	351
Owner-occupied	53,013		56,303	5,091	57,111	338
Total commercial and industrial	120,470		130,042	11,085	118,690	689
Home equity lines	9,977		9,977	977	10,262	236
Consumer mortgages	20,285		20,482	584	21,177	91
Credit cards	—		—	—	—	—
Other consumer loans	4,821		4,821	144	4,917	73
Total consumer	35,083		35,280	1,705	36,356	400
Total impaired loans	$	234,756	251,681	19,707	235,553	1,689



Impaired Loans (including accruing TDRs)
	December 31, 2016				Year Ended December 31, 2016
(in thousands)	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
With no related allowance recorded
Investment properties	$	748	793	—	2,013	—
1-4 family properties	643		2,939	—	1,021	—
Land and development	2,099		7,243	—	6,769	—
Total commercial real estate	3,490		10,975	—	9,803	—
Commercial, financial and agricultural	17,958		20,577	—	6,321	—
Owner-occupied	5,508		7,377	—	8,394	—
Total commercial and industrial	23,466		27,954	—	14,715	—
Home equity lines	1,051		1,051	—	1,045	—
Consumer mortgages	744		814	—	870	—
Credit cards	—		—	—	—	—
Other consumer loans	—		—	—	—	—
Total consumer	1,795		1,865	—	1,915	—
Total impaired loans with no related allowance recorded	$	28,751	40,794	—	26,433	—
With allowance recorded
Investment properties	$	31,489	31,489	2,044	42,659	1,436
1-4 family properties	23,642		23,649	769	39,864	855
Land and development	32,789		32,788	5,103	25,568	995
Total commercial real estate	87,920		87,926	7,916	108,091	3,286
Commercial, financial and agricultural	43,386		45,913	5,687	51,968	1,215
Owner-occupied	53,708		53,942	2,697	52,300	1,946
Total commercial and industrial	97,094		99,855	8,384	104,268	3,161
Home equity lines	9,638		9,638	971	9,668	432
Consumer mortgages	20,953		20,953	673	20,993	1,014
Credit cards	—		—	—	—	—
Other consumer loans	5,140		5,140	167	5,062	303
Total consumer	35,731		35,731	1,811	35,723	1,749
Total impaired loans with allowance recorded	$	220,745	223,512	18,111	248,082	8,196
Total impaired loans
Investment properties	$	32,237	32,282	2,044	44,672	1,436
1-4 family properties	24,285		26,588	769	40,885	855
Land and development	34,888		40,031	5,103	32,337	995
Total commercial real estate	91,410		98,901	7,916	117,894	3,286
Commercial, financial and agricultural	61,344		66,490	5,687	58,289	1,215
Owner-occupied	59,216		61,319	2,697	60,694	1,946
Total commercial and industrial	120,560		127,809	8,384	118,983	3,161
Home equity lines	10,689		10,689	971	10,713	432
Consumer mortgages	21,697		21,767	673	21,863	1,014
Credit cards	—		—	—	—	—
Other consumer loans	5,140		5,140	167	5,062	303
Total consumer	37,526		37,596	1,811	37,638	1,749
Total impaired loans	$	249,496	264,306	18,111	274,515	8,196

Troubled Debt Restructurings

The following tables represent, by concession type, the post-modification balance for loans modified or renewed during the three months ended March 31, 2017 and 2016 that were reported as accruing or non-accruing TDRs.



TDRs by Concession Type
	Three Months Ended March 31, 2017
(in thousands, except contract data)	Number of Contracts	Principal Forgiveness		Below Market Interest Rate	Term Extensions and/or Other Concessions	Total
Investment properties	—	$	—	—	—	—
1-4 family properties	8	—		1,611	317	1,928
Land and development	—	—		—	—	—
Total commercial real estate	8	—		1,611	317	1,928
Commercial, financial and agricultural	18	—		3,865	5,539	9,404
Owner-occupied	—	—		—	—	—
Total commercial and industrial	18	—		3,865	5,539	9,404
Home equity lines	—	—		—	—	—
Consumer mortgages	—	—		—	—	—
Credit cards	—	—		—	—	—
Other consumer loans	3	—		—	275	275
Total consumer	3	—		—	275	275
Total TDRs	29	$	—	5,476	6,131	11,607	⁽¹	⁾

⁽¹⁾No net charge-offs were recorded during the three months ended March 31, 2017 upon restructuring of these loans.



TDRs by Concession Type
	Three Months Ended March 31, 2016
(in thousands, except contract data)	Number of Contracts	Principal Forgiveness		Below Market Interest Rate	Term Extensions and/or Other Concessions	Total
Investment properties	1	$	—	437	—	437
1-4 family properties	6	—		395	786	1,181
Land and development	8	—		—	737	737
Total commercial real estate	15	—		832	1,523	2,355
Commercial, financial and agricultural	30	—		12,014	3,387	15,401
Owner-occupied	4	—		1,535	448	1,983
Total commercial and industrial	34	—		13,549	3,835	17,384
Home equity lines	2	—		196	—	196
Consumer mortgages	3	—		154	—	154
Credit cards	—	—		—	—	—
Other consumer loans	7	—		230	85	315
Total consumer	12	—		580	85	665
Total TDRs	61	$	—	14,961	5,443	20,404	⁽²	⁾

⁽²⁾ No net charge-offs were recorded during the three months ended March 31, 2016 upon restructuring of these loans.