|
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 |
|
| |
|
|
|
|
|
|