Loans and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2016

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, 2016 and December 31, 2015.



Current, Accruing Past Due, and Non-accrual Loans
	March 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	$	5,954,011	9,484	—	9,484	23,749	5,987,244
1-4 family properties	1,113,140		3,860	234	4,094	17,358	1,134,592
Land acquisition	453,042		2,424	—	2,424	14,416	469,882
Total commercial real estate	7,520,193		15,768	234	16,002	55,523	7,591,718
Commercial, financial and agricultural	6,477,031		18,403	425	18,828	63,312	6,559,171
Owner-occupied	4,246,794		6,581	261	6,842	18,582	4,272,218
Total commercial and industrial	10,723,825		24,984	686	25,670	81,894	10,831,389
Home equity lines	1,647,483		5,321	170	5,491	16,432	1,669,406
Consumer mortgages	1,937,378		10,415	644	11,059	21,756	1,970,193
Credit cards	229,613		1,470	1,471	2,941	—	232,554
Other retail loans	487,023		2,680	9	2,689	2,562	492,274
Total retail	4,301,497		19,886	2,294	22,180	40,750	4,364,427
Total loans	$	22,545,515	60,638	3,214	63,852	178,167	22,787,534	⁽¹	⁾

	December 31, 2015
(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	$	5,726,307	2,284	—	2,284	23,040	5,751,631
1-4 family properties	1,086,612		6,300	103	6,403	16,839	1,109,854
Land acquisition	495,542		639	32	671	17,768	513,981
Total commercial real estate	7,308,461		9,223	135	9,358	57,647	7,375,466
Commercial, financial and agricultural	6,410,338		12,222	785	13,007	49,137	6,472,482
Owner-occupied	4,293,308		5,254	95	5,349	20,293	4,318,950
Total commercial and industrial	10,703,646		17,476	880	18,356	69,430	10,791,432
Home equity lines	1,667,552		5,882	—	5,882	16,480	1,689,914
Consumer mortgages	1,907,644		8,657	134	8,791	22,248	1,938,683
Credit cards	237,742		1,663	1,446	3,109	—	240,851
Other retail loans	418,337		2,390	26	2,416	2,565	423,318
Total retail	4,231,275		18,592	1,606	20,198	41,293	4,292,766
Total loans	$	22,243,382	45,291	2,621	47,912	168,370	22,459,664	⁽²	⁾

⁽¹⁾Total before net deferred fees and costs of $29.3 million.

⁽²⁾Total before net deferred fees and costs of $30.1 million.

Loan Portfolio Credit Exposure

In the following tables, retail 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 retail 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, 2016
(in thousands)	Pass	Special Mention	Substandard⁽¹⁾	Doubtful⁽²⁾	Loss		Total
Investment properties	$5,810,969	104,404	71,871	—	—		5,987,244
1-4 family properties	1,011,558	56,557	59,284	7,193	—		1,134,592
Land acquisition	397,821	44,868	26,857	336	—		469,882
Total commercial real estate	7,220,348	205,829	158,012	7,529	—		7,591,718
Commercial, financial and agricultural	6,301,436	131,577	107,164	18,155	839	⁽³⁾	6,559,171
Owner-occupied	4,083,220	72,771	114,341	1,427	459	⁽³⁾	4,272,218
Total commercial and industrial	10,384,656	204,348	221,505	19,582	1,298		10,831,389
Home equity lines	1,645,741	—	20,906	1,109	1,650	⁽³⁾	1,669,406
Consumer mortgages	1,941,082	—	27,167	1,697	247	⁽³⁾	1,970,193
Credit cards	231,083	—	603	—	868	⁽⁴⁾	232,554
Other retail loans	487,912	—	4,278	—	84	⁽³⁾	492,274
Total retail	4,305,818	—	52,954	2,806	2,849		4,364,427
Total loans	21,910,822	410,177	432,471	29,917	4,147		22,787,534	⁽⁵	⁾

	December 31, 2015
(in thousands)	Pass	Special Mention	Substandard⁽¹⁾	Doubtful⁽²⁾	Loss		Total
Investment properties	$5,560,595	114,705	76,331	—	—		5,751,631
1-4 family properties	976,601	64,325	61,726	7,202	—		1,109,854
Land acquisition	436,835	46,208	30,574	364	—		513,981
Total commercial real estate	6,974,031	225,238	168,631	7,566	—		7,375,466
Commercial, financial and agricultural	6,203,481	152,189	100,658	13,330	2,824	⁽³⁾	6,472,482
Owner-occupied	4,118,631	78,490	121,272	98	459	⁽³⁾	4,318,950
Total commercial and industrial	10,322,112	230,679	221,930	13,428	3,283		10,791,432
Home equity lines	1,666,586	—	20,456	1,206	1,666	⁽³⁾	1,689,914
Consumer mortgages	1,910,649	—	26,041	1,700	293	⁽³⁾	1,938,683
Credit cards	239,405	—	480	—	966	⁽⁴⁾	240,851
Other retail loans	418,929	—	4,315	—	74	⁽³⁾	423,318
Total retail	4,235,569	—	51,292	2,906	2,999		4,292,766
Total loans	21,531,712	455,917	441,853	23,900	6,282		22,459,664	₍₆	₎

⁽¹⁾ Includes $288.4 million and $303.7 million of Substandard accruing loans at March 31, 2016 and December 31, 2015, 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 $29.3 million.

⁽⁶⁾Total before net deferred fees and costs of $30.1 million.

Schedule of Allowances for Loan Losses and Recorded Investment in Loans

The following table details the changes in the allowance for loan losses by loan segment for the three months ended March 31, 2016 and 2015.



Allowance for Loan Losses and Recorded Investment in Loans
	As Of and For The Three Months Ended March 31, 2016
(in thousands)	Commercial Real Estate			Commercial & Industrial			Retail			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⁾⁽²⁾	$	7,591,718		10,831,389			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	$	7,454,892		10,707,832			4,327,025			22,489,749

	As Of and For The Three Months Ended March 31, 2015
(in thousands)	Commercial Real Estate			Commercial & Industrial			Retail			Total
Allowance for loan losses:
Beginning balance	$	101,471		118,110			41,736			261,317
Charge-offs	(7,440		)	(5,272		)	(7,912		)	(20,624		)
Recoveries	3,941			2,266			2,074			8,281
Provision for loan losses	(3,764		)	2,702			5,459			4,397
Ending balance⁽¹⁾	$	94,208		$	117,806		$	41,357		$	253,371
Ending balance: individually evaluated for impairment	18,558			9,411			1,037			29,006
Ending balance: collectively evaluated for impairment	$	75,650		108,395			40,320			224,365
Loans:
Ending balance: total loans⁽¹⁾⁽³⁾	6,898,159			10,316,689			3,920,733			21,135,581
Ending balance: individually evaluated for impairment	237,167			130,197			41,321			408,685
Ending balance: collectively evaluated for impairment	$	6,660,992		10,186,492			3,879,412			20,726,896

⁽¹⁾As of and for the three months ended March 31, 2016 and 2015, 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 $29.3 million.

⁽³⁾Total before net deferred fees and costs of $29.4 million.

Schedule of Impaired Loans

The tables below summarize impaired loans (including accruing TDRs) as of March 31, 2016 and December 31, 2015.



Impaired Loans (including accruing TDRs)
	March 31, 2016				Three Months Ended March 31, 2016
(in thousands)	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
With no related allowance recorded
Investment properties	$	8,557	11,192	—	9,359	—
1-4 family properties	1,504		5,525	—	1,505	—
Land acquisition	3,991		10,554	—	6,005	—
Total commercial real estate	14,052		27,271	—	16,869	—
Commercial, financial and agricultural	6,185		8,585	—	5,715	—
Owner-occupied	9,492		11,033	—	8,570	—
Total commercial and industrial	15,677		19,618	—	14,285	—
Home equity lines	1,044		1,044	—	1,035	—
Consumer mortgages	814		2,065	—	814	—
Credit cards	—		—	—	—	—
Other retail loans	—		—	—	—	—
Total retail	1,858		3,109	—	1,849	—
Total impaired loans with no related allowance recorded	$	31,587	49,998	—	33,003	—
With allowance recorded
Investment properties	$	53,449	53,475	9,158	58,015	656
1-4 family properties	49,048		49,048	5,899	49,434	117
Land acquisition	20,277		23,094	2,546	23,088	128
Total commercial real estate	122,774		125,617	17,603	130,537	901
Commercial, financial and agricultural	58,312		61,865	12,399	49,547	189
Owner-occupied	49,568		49,760	1,634	49,404	444
Total commercial and industrial	107,880		111,625	14,033	98,951	633
Home equity lines	9,772		9,772	165	9,618	116
Consumer mortgages	21,224		21,224	1,029	21,821	262
Credit cards	—		—	—	—	—
Other retail loans	4,548		4,548	143	4,679	72
Total retail	35,544		35,544	1,337	36,118	450
Total impaired loans with allowance recorded	$	266,198	272,786	32,973	265,606	1,984
Total impaired loans
Investment properties	$	62,006	64,667	9,158	67,374	656
1-4 family properties	50,552		54,573	5,899	50,939	117
Land acquisition	24,268		33,648	2,546	29,093	128
Total commercial real estate	136,826		152,888	17,603	147,406	901
Commercial, financial and agricultural	64,497		70,450	12,399	55,262	189
Owner-occupied	59,060		60,793	1,634	57,974	444
Total commercial and industrial	123,557		131,243	14,033	113,236	633
Home equity lines	10,816		10,816	165	10,653	116
Consumer mortgages	22,038		23,289	1,029	22,635	262
Credit cards	—		—	—	—	—
Other retail loans	4,548		4,548	143	4,679	72
Total retail	37,402		38,653	1,337	37,967	450
Total impaired loans	$	297,785	322,784	32,973	298,609	1,984



Impaired Loans (including accruing TDRs)
	December 31, 2015				Year Ended December 31, 2015
(in thousands)	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
With no related allowance recorded
Investment properties	$	10,051	12,946	—	11,625	—
1-4 family properties	1,507		5,526	—	2,546	—
Land acquisition	8,551		39,053	—	13,897	—
Total commercial real estate	20,109		57,525	—	28,068	—
Commercial, financial and agricultural	4,393		7,606	—	5,737	—
Owner-occupied	8,762		11,210	—	14,657	—
Total commercial and industrial	13,155		18,816	—	20,394	—
Home equity lines	1,030		1,030	—	573	—
Consumer mortgages	814		941	—	995	—
Credit cards	—		—	—	—	—
Other retail loans	—		—	—	—	—
Total retail	1,844		1,971	—	1,568	—
Total impaired loans with no related allowance recorded	$	35,108	78,312	—	50,030	—
With allowance recorded
Investment properties	$	62,305	62,305	10,070	73,211	2,131
1-4 family properties	51,376		51,376	6,184	61,690	1,618
Land acquisition	24,168		24,738	2,715	34,793	936
Total commercial real estate	137,849		138,419	18,969	169,694	4,685
Commercial, financial and agricultural	42,914		44,374	8,339	43,740	1,125
Owner-occupied	49,530		49,688	2,138	55,323	1,814
Total commercial and industrial	92,444		94,062	10,477	99,063	2,939
Home equity lines	9,575		9,575	206	8,318	346
Consumer mortgages	22,173		23,297	651	26,044	1,229
Credit cards	—		—	—	—	—
Other retail loans	4,651		4,651	132	5,105	323
Total retail	36,399		37,523	989	39,467	1,898
Total impaired loans with allowance recorded	$	266,692	270,004	30,435	308,224	9,522
Total impaired loans
Investment properties	$	72,356	75,251	10,070	84,836	2,131
1-4 family properties	52,883		56,902	6,184	64,236	1,618
Land acquisition	32,719		63,791	2,715	48,690	936
Total commercial real estate	157,958		195,944	18,969	197,762	4,685
Commercial, financial and agricultural	47,307		51,980	8,339	49,477	1,125
Owner-occupied	58,292		60,898	2,138	69,980	1,814
Total commercial and industrial	105,599		112,878	10,477	119,457	2,939
Home equity lines	10,605		10,605	206	8,891	346
Consumer mortgages	22,987		24,238	651	27,039	1,229
Credit cards	—		—	—	—	—
Other retail loans	4,651		4,651	132	5,105	323
Total retail	38,243		39,494	989	41,035	1,898
Total impaired loans	$	301,800	348,316	30,435	358,254	9,522

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, 2016 and 2015 that were reported as accruing or non-accruing TDRs.



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	2	$	—	437	148	585
1-4 family properties	7	—		395	840	1,235
Land acquisition	6	—		—	535	535
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 retail loans	7	—		230	85	315
Total retail	12	—		580	85	665
Total TDRs	61	$	—	14,961	5,443	20,404	⁽¹	⁾

⁽¹⁾No net charge-offs were recorded during the three months ended March 31, 2016 upon restructuring of these loans.



TDRs by Concession Type
	Three Months Ended March 31, 2015
(in thousands, except contract data)	Number of Contracts	Principal Forgiveness		Below Market Interest Rate	Term Extensions and/or Other Concessions	Total
Investment properties	3	$	—	16,932	3,604	20,536
1-4 family properties	13	14,823		2,856	150	17,829
Land acquisition	3	—		255	708	963
Total commercial real estate	19	14,823		20,043	4,462	39,328
Commercial, financial and agricultural	25	—		1,015	1,890	2,905
Owner-occupied	2	—		1,739	—	1,739
Total commercial and industrial	27	—		2,754	1,890	4,644
Home equity lines	11	—		975	135	1,110
Consumer mortgages	11	—		245	786	1,031
Credit cards	—	—		—	—	—
Other retail loans	6	—		257	64	321
Total retail	28	—		1,477	985	2,462
Total TDRs	74	$	14,823	24,274	7,337	46,434	⁽²	⁾

⁽²⁾ Net charge-offs of $4.0 million were recorded during the three months ended March 31, 2015 upon restructuring of these loans.