XML 73 R36.htm IDEA: XBRL DOCUMENT v2.4.0.6
Loans, Allowance for Loan and Lease Losses, and Reserve for Off-Balance Sheet Credit Commitments (Tables)
12 Months Ended
Dec. 31, 2012
Loans, Allowance for Loan and Lease Losses, and Reserve for Off-Balance Sheet Credit Commitments  
Summary of loans


(in thousands)
  December 31,
2012
  December 31,
2011
 

Commercial

  $ 6,211,353   $ 4,846,594  

Commercial real estate mortgages

    2,829,694     2,110,749  

Residential mortgages

    3,962,205     3,763,218  

Real estate construction

    222,780     315,609  

Equity lines of credit

    711,750     741,081  

Installment

    142,793     132,647  

Lease financing

    737,720     399,487  
           

Loans and leases, excluding covered loans

    14,818,295     12,309,385  

Less: Allowance for loan and lease losses

    (277,888 )   (262,557 )
           

Loans and leases, excluding covered loans, net

    14,540,407     12,046,828  

Covered loans

    1,031,004     1,481,854  

Less: Allowance for loan losses

    (44,781 )   (64,565 )
           

Covered loans, net

    986,223     1,417,289  
           

Total loans and leases

  $ 15,849,299   $ 13,791,239  
           

Total loans and leases, net

  $ 15,526,630   $ 13,464,117  
           
Summary of major categories of covered loans

 

 

(in thousands)
  December 31,
2012
  December 31,
2011
 

Commercial

  $ 10,561   $ 30,911  

Commercial real estate mortgages

    931,758     1,288,352  

Residential mortgages

    5,652     14,931  

Real estate construction

    78,554     140,992  

Equity lines of credit

    3,790     5,167  

Installment

    689     1,501  
           

Covered loans

    1,031,004     1,481,854  

Less: Allowance for loan losses

    (44,781 )   (64,565 )
           

Covered loans, net

  $ 986,223   $ 1,417,289  
           
Summary of accretable yield for acquired impaired loans

 

 

 
  For the year ended
December 31,
 
(in thousands)
  2012   2011  

Balance, beginning of period

  $ 436,374   $ 562,826  

Additions

        10,871  

Accretion

    (79,839 )   (104,056 )

Reclassifications from nonaccretable yield

    11,664     33,704  

Disposals and other

    (72,386 )   (66,971 )
           

Balance, end of period

  $ 295,813   $ 436,374  
           
Summary of allowance for loan and lease losses on non-covered loans

 

 

(in thousands)
  Commercial
(1)
  Commercial
Real Estate
Mortgages
  Residential
Mortgages
  Real Estate
Construction
  Equity Lines
of Credit
  Installment   Unallocated   Total  

Year ended December 31, 2012

                                                 

Allowance for loan and lease losses:

                                                 

Beginning balance

  $ 82,965   $ 45,967   $ 14,029   $ 23,347   $ 8,024   $ 1,959   $ 86,266   $ 262,557  

Provision for credit losses (2)

    10,750     2,357     (1,951 )   (8,757 )   382     (1,028 )   6,507     8,260  

Charge-offs

    (24,407 )   (1,611 )   (2,402 )   (9,769 )   (1,258 )   (1,066 )       (40,513 )

Recoveries

    34,848     1,527     823     8,309     95     1,982         47,584  
                                   

Net (charge-offs) recoveries

    10,441     (84 )   (1,579 )   (1,460 )   (1,163 )   916         7,071  
                                   

Ending balance

  $ 104,156   $ 48,240   $ 10,499   $ 13,130   $ 7,243   $ 1,847   $ 92,773   $ 277,888  
                                   

Ending balance of allowance:

                                                 

Individually evaluated for impairment

  $ 952   $ 1,326   $ 9   $   $ 116   $   $   $ 2,403  

Collectively evaluated for impairment

    103,204     46,914     10,490     13,130     7,127     1,847     92,773     275,485  

Loans and leases, excluding covered loans

                                                 

Ending balance of loans and leases:

                                                 

Loans and leases, excluding covered loans

  $ 6,949,073   $ 2,829,694   $ 3,962,205   $ 222,780   $ 711,750   $ 142,793   $   $ 14,818,295  

Individually evaluated for impairment

    26,277     53,085     8,810     45,510     4,461     449         138,592  

Collectively evaluated for impairment

    6,922,796     2,776,609     3,953,395     177,270     707,289     142,344         14,679,703  

(1)
Includes lease financing loans.

(2)
Provision for credit losses in the allowance rollforward for 2012 includes total provision expense of $10.0 million, net of total transfers to the reserve for off-balance sheet credit commitments of $1.7 million.

(in thousands)
  Commercial
(1)
  Commercial
Real Estate
Mortgages
  Residential
Mortgages
  Real Estate
Construction
  Equity Lines
of Credit
  Installment   Unallocated   Total  

Year ended December 31, 2011

                                                 

Allowance for loan and lease losses:

                                                 

Beginning balance

  $ 82,451   $ 52,516   $ 16,753   $ 40,824   $ 7,229   $ 3,931   $ 53,303   $ 257,007  

Provision for credit losses (2)

    15,284     (13,491 )   (1,641 )   (22,507 )   2,561     (2,237 )   32,963     10,932  

Charge-offs

    (30,512 )   (4,573 )   (1,475 )   (8,897 )   (1,834 )   (914 )       (48,205 )

Recoveries

    15,742     11,515     392     13,927     68     1,179         42,823  
                                   

Net (charge-offs) recoveries

    (14,770 )   6,942     (1,083 )   5,030     (1,766 )   265         (5,382 )
                                   

Ending balance

  $ 82,965   $ 45,967   $ 14,029   $ 23,347   $ 8,024   $ 1,959   $ 86,266   $ 262,557  
                                   

Ending balance of allowance:

                                                 

Individually evaluated for impairment

  $ 7,135   $ 1,551   $ 108   $ 4,377   $ 91   $   $   $ 13,262  

Collectively evaluated for impairment

    75,830     44,416     13,921     18,970     7,933     1,959     86,266     249,295  

Loans and leases, excluding covered loans

                                                 

Ending balance of loans and leases:

                                                 

Loans and leases, excluding covered loans

  $ 5,246,081   $ 2,110,749   $ 3,763,218   $ 315,609   $ 741,081   $ 132,647   $   $ 12,309,385  

Individually evaluated for impairment

    25,808     30,678     9,146     75,811     6,633     658         148,734  

Collectively evaluated for impairment

    5,220,273     2,080,071     3,754,072     239,798     734,448     131,989         12,160,651  

(1)
Includes lease financing loans.

(2)
Provision for credit losses in the allowance rollforward for 2011 includes total provision expense of $12.5 million, net of total transfers to the reserve for off-balance sheet credit commitments of $1.6 million.
Summary of activity in the reserve for off-balance sheet credit commitments

 

 

 
  For the year ended
December 31,
 
(in thousands)
  2012   2011  

Balance, beginning of the year

  $ 23,097   $ 21,529  

Transfers from allowance for loan and lease losses

    1,740     1,568  
           

Balance, end of the year

  $ 24,837   $ 23,097  
           
Schedule of impaired loans, excluding covered loans

 

 

(in thousands)
  Recorded
Investment
  Unpaid
Contractual
Principal
Balance
  Related
Allowance
  Average
Recorded
Investment
  Interest
Income
Recognized
 

Year ended December 31, 2012

                               

With no related allowance recorded:

                               

Commercial

  $ 18,761   $ 24,135   $   $ 23,538   $  

Commercial real estate mortgages

    42,882     49,110         29,190     189  

Residential mortgages:

                               

Fixed

    3,482     3,757         3,134      

Variable

    4,865     5,437         4,981     48  
                       

Total residential mortgages

    8,347     9,194         8,115     48  
                       

Real estate construction:

                               

Construction

    19,762     33,267         27,303     692  

Land

    25,748     41,016         23,361     265  
                       

Total real estate construction

    45,510     74,283         50,664     957  
                       

Equity lines of credit

    3,562     4,660         4,288      

Installment:

                               

Consumer

    449     927         531      
                       

Total installment

    449     927         531      
                       

Lease financing

                6      
                       

Total with no related allowance

  $ 119,511   $ 162,309   $   $ 116,332   $ 1,194  
                       

With an allowance recorded:

                               

Commercial

  $ 7,516   $ 8,038   $ 952   $ 10,532   $  

Commercial real estate mortgages

    10,203     10,783     1,326     12,765      

Residential mortgages:

                               

Fixed

    463     507     9     1,568      

Variable

                1,503     4  
                       

Total residential mortgages

    463     507     9     3,071     4  
                       

Real estate construction:

                               

Land

                11,760      
                       

Total real estate construction

                11,760      
                       

Equity lines of credit

    899     965     116     1,112      
                       

Total with an allowance

  $ 19,081   $ 20,293   $ 2,403   $ 39,240   $ 4  
                       

Total impaired loans by type:

                               

Commercial

  $ 26,277   $ 32,173   $ 952   $ 34,070   $  

Commercial real estate mortgages

    53,085     59,893     1,326     41,955     189  

Residential mortgages

    8,810     9,701     9     11,186     52  

Real estate construction

    45,510     74,283         62,424     957  

Equity lines of credit

    4,461     5,625     116     5,400      

Installment

    449     927         531      

Lease financing

                6      
                       

Total impaired loans

  $ 138,592   $ 182,602   $ 2,403   $ 155,572   $ 1,198  
                       

 

(in thousands)
  Recorded
Investment
  Unpaid
Contractual
Principal
Balance (1)
  Related
Allowance
  Average
Recorded
Investment
  Interest
Income
Recognized
 

Year ended December 31, 2011

                               

With no related allowance recorded:

                               

Commercial

  $ 10,153   $ 11,588   $   $ 6,525   $  

Commercial real estate mortgages

    19,867     23,983         18,585     269  

Residential mortgages:

                               

Fixed

    3,493     4,035         6,592     170  

Variable

    3,689     4,000         3,796     54  
                       

Total residential mortgages

    7,182     8,035         10,388     224  
                       

Real estate construction:

                               

Construction

    27,435     40,605         47,710     787  

Land

    28,991     32,335         22,252      
                       

Total real estate construction

    56,426     72,940         69,962     787  
                       

Equity lines of credit

    5,341     6,325         3,951      

Installment:

                               

Consumer

    658     976         287      
                       

Total installment

    658     976         287      
                       

Lease financing

    28     5,225         699     98  
                       

Total with no related allowance

  $ 99,655   $ 129,072   $   $ 110,397   $ 1,378  
                       

With an allowance recorded:

                               

Commercial

  $ 15,627   $ 21,377   $ 7,135   $ 14,477   $  

Commercial real estate mortgages

    10,811     11,215     1,551     11,169      

Residential mortgages:

                               

Fixed

    515     535     40     740      

Variable

    1,449     1,476     68     1,153      
                       

Total residential mortgages

    1,964     2,011     108     1,893      
                       

Real estate construction:

                               

Construction

                3,534      

Land

    19,385     29,381     4,377     8,298      
                       

Total real estate construction

    19,385     29,381     4,377     11,832      
                       

Equity lines of credit

    1,292     1,461     91     1,435     6  

Installment:

                               

Commercial

                1,380      
                       

Total installment

                1,380      
                       

Lease financing

                171      
                       

Total with an allowance

  $ 49,079   $ 65,445   $ 13,262   $ 42,357   $ 6  
                       

Total impaired loans by type:

                               

Commercial

  $ 25,780   $ 32,965   $ 7,135   $ 21,002   $  

Commercial real estate mortgages

    30,678     35,198     1,551     29,754     269  

Residential mortgages

    9,146     10,046     108     12,281     224  

Real estate construction

    75,811     102,321     4,377     81,794     787  

Equity lines of credit

    6,633     7,786     91     5,386     6  

Installment

    658     976         1,667      

Lease financing

    28     5,225         870     98  
                       

Total impaired loans

  $ 148,734   $ 194,517   $ 13,262   $ 152,754   $ 1,384  
                       

(1)
The table has been revised to present unpaid contractual principal balances, whereas the Company had previously disclosed unpaid contractual principal balances that were net of charge-offs.
Schedule of troubled debt restructured loans

 

 

(in thousands)
  Number of
Contracts
  Pre-Modification
Outstanding
Principal
  Period-End
Outstanding
Principal
  Financial
Effects
(1)
 

Year ended December 31, 2012

                         

Commercial

    20   $ 38,371   $ 19,671   $ 10,528  

Commercial real estate mortgages

    2     15,833     16,287      

Residential mortgages:

                         

Fixed

    4     2,233     1,068     485  

Real estate construction:

                         

Construction

    3     14,857     4,633      

Land

    1     8,420     7,918     264  
                   

Total real estate construction

    4     23,277     12,551     264  
                   

Equity lines of credit

    1     256     146      
                   

Total troubled debt restructured loans

    31   $ 79,970   $ 49,723   $ 11,277  
                   

Year ended December 31, 2011

                         

Commercial

    12   $ 12,305   $ 12,111   $ 1,490  

Commercial real estate mortgages

    5     12,908     12,899      

Residential mortgages:

                         

Variable

    1     969     933      

Real estate construction:

                         

Construction

    6     26,814     26,814      

Land

    6     29,153     29,042     1,813  
                   

Total real estate construction

    12     55,967     55,856     1,813  
                   

Lease financing

    9     765          
                   

Total troubled debt restructured loans

    39   $ 82,914   $ 81,799   $ 3,303  
                   

(1)
Financial effects are comprised of charge-offs and specific reserves recognized on TDR loans at modification date.
Schedule of troubled debt restructured loans that have subsequently defaulted

 

 

 
  Year ended December 31, 2012   Year ended December 31, 2011  
(in thousands)
  Number of
Contracts
  Period-End
Outstanding
Principal
  Period-End
Specific
Reserve
  Number of
Contracts
  Period-End
Outstanding
Principal
  Period-End
Specific
Reserve
 

Commercial

    6   $ 689   $ 300     1   $ 45   $ 1  

Commercial real estate mortgages

    1     13,802                  

Real estate construction:

                                     

Land

    2     420         2     6,339      
                           

Total loans that subsequently defaulted

    9   $ 14,911   $ 300     3   $ 6,384   $ 1  
                           
Summary of past due loans, excluding covered loans, based upon the length of time the loans have been past due

 

 

(in thousands)
  30-59 Days
Past Due
  60-89 Days
Past Due
  Greater
Than 90
Days and
Accruing
  Nonaccrual   Total Past
Due and
Nonaccrual
Loans
  Current   Total Loans
and Leases
 

December 31, 2012

                                           

Commercial

  $ 6,207   $ 4,219   $ 602   $ 9,087   $ 20,115   $ 6,191,238   $ 6,211,353  

Commercial real estate mortgages

    16,968     3,249         33,198     53,415     2,776,279     2,829,694  

Residential mortgages:

                                           

Fixed

        1,969     379     4,902     7,250     1,458,224     1,465,474  

Variable

                4,701     4,701     2,492,030     2,496,731  
                               

Total residential mortgages

        1,969     379     9,603     11,951     3,950,254     3,962,205  
                               

Real estate construction:

                                           

Construction

                15,067     15,067     150,548     165,615  

Land

        859         25,815     26,674     30,491     57,165  
                               

Total real estate construction

        859         40,882     41,741     181,039     222,780  
                               

Equity lines of credit

    3,407     480         6,424     10,311     701,439     711,750  

Installment:

                                           

Commercial

                        437     437  

Consumer

    58     35         473     566     141,790     142,356  
                               

Total installment

    58     35         473     566     142,227     142,793  
                               

Lease financing

    2,633     2         120     2,755     734,965     737,720  
                               

Total

  $ 29,273   $ 10,813   $ 981   $ 99,787   $ 140,854   $ 14,677,441   $ 14,818,295  
                               

December 31, 2011

                                           

Commercial

  $ 6,817   $ 1,003   $   $ 19,888   $ 27,708   $ 4,818,886   $ 4,846,594  

Commercial real estate mortgages

    5,838             21,948     27,786     2,082,963     2,110,749  

Residential mortgages:

                                           

Fixed

    662     525     379     5,572     7,138     1,574,658     1,581,796  

Variable

        2,983         4,199     7,182     2,174,240     2,181,422  
                               

Total residential mortgages

    662     3,508     379     9,771     14,320     3,748,898     3,763,218  
                               

Real estate construction:

                                           

Construction

                15,582     15,582     202,279     217,861  

Land

                35,294     35,294     62,454     97,748  
                               

Total real estate construction

                50,876     50,876     264,733     315,609  
                               

Equity lines of credit

            74     8,669     8,743     732,338     741,081  

Installment:

                                           

Commercial

                4     4     601     605  

Consumer

    150             870     1,020     131,022     132,042  
                               

Total installment

    150             874     1,024     131,623     132,647  
                               

Lease financing

                        399,487     399,487  
                               

Total

  $ 13,467   $ 4,511   $ 453   $ 112,026   $ 130,457   $ 12,178,928   $ 12,309,385  
                               
Summary of contractual interest foregone on nonaccrual loans, excluding covered loans

 

 

 
  December 31,  
(in thousands)
  2012   2011   2010  

Interest income that would have been recognized had nonaccrual loans performed in accordance with their original terms

  $ 8,549   $ 15,465   $ 17,869  

Less: Interest income recognized on nonaccrual loans on a cash basis

    (1,446 )   (1,494 )   (1,689 )
               

Interest income foregone on nonaccrual loans

  $ 7,103   $ 13,971   $ 16,180  
               
Summary of the loan and lease portfolio, excluding covered loans, by loan type and credit quality classification

 

 

 
  December 31, 2012   December 31, 2011  
(in thousands)
  Nonclassified   Classified   Total   Nonclassified   Classified   Total  

Commercial

  $ 6,073,459   $ 137,894   $ 6,211,353   $ 4,732,663   $ 113,931   $ 4,846,594  

Commercial real estate mortgages

    2,705,469     124,225     2,829,694     1,930,001     180,748     2,110,749  

Residential mortgages:

                                     

Fixed

    1,449,270     16,204     1,465,474     1,565,420     16,376     1,581,796  

Variable

    2,479,449     17,282     2,496,731     2,163,458     17,964     2,181,422  
                           

Total residential mortgages

    3,928,719     33,486     3,962,205     3,728,878     34,340     3,763,218  
                           

Real estate construction:

                                     

Construction

    119,189     46,426     165,615     147,916     69,945     217,861  

Land

    27,492     29,673     57,165     43,717     54,031     97,748  
                           

Total real estate construction

    146,681     76,099     222,780     191,633     123,976     315,609  
                           

Equity lines of credit

    685,011     26,739     711,750     724,045     17,036     741,081  

Installment:

                                     

Commercial

    437         437     601     4     605  

Consumer

    141,662     694     142,356     130,921     1,121     132,042  
                           

Total installment

    142,099     694     142,793     131,522     1,125     132,647  
                           

Lease financing

    733,803     3,917     737,720     396,256     3,231     399,487  
                           

Total

  $ 14,415,241   $ 403,054   $ 14,818,295   $ 11,834,998   $ 474,387   $ 12,309,385  
                           
Summary of the allowance for loan losses on covered loans

 

 

 
  For the year ended
December 31,
 
(in thousands)
  2012   2011  

Balance, beginning of period

  $ 64,565   $ 67,389  

Provision for losses

    45,346     43,646  

Charge-offs

        (325 )

Reduction in allowance due to loan removals

    (65,130 )   (46,145 )
           

Balance, end of period

  $ 44,781   $ 64,565