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Loans And Allowance For Loan Losses (Tables)
 9 Months Ended
Sep. 30, 2012
Loans And Allowance For Loan Losses [Abstract]  
Summary Classification Of Held To Maturity Loan Portfolio
Major classifications within the Company’s held to maturity loan portfolio at September 30, 2012 and December 31, 2011 are as follows:

(In thousands)
 
September 30, 2012
 
December 31, 2011
Commercial:
 
 
 
 
Business
 
$
3,098,908

 
$
2,808,265

Real estate – construction and land
 
335,113

 
386,598

Real estate – business
 
2,193,206

 
2,180,100

Personal Banking:
 
 
 
 
Real estate – personal
 
1,556,754

 
1,428,777

Consumer
 
1,243,400

 
1,114,889

Revolving home equity
 
453,527

 
463,587

Consumer credit card
 
748,885

 
788,701

Overdrafts
 
8,852

 
6,561

Total loans
 
$
9,638,645

 
$
9,177,478
Summary Of Activity In The Allowance For Loan Losses
A summary of the activity in the allowance for loan losses during the three and nine months ended September 30, 2012 follows:
 
 
For the Three Months Ended September 30
 
For the Nine Months Ended September 30

(In thousands)
 
Commercial
Personal Banking

Total
 
Commercial
Personal Banking

Total
Balance at beginning of period
$
114,671

$
63,862

$
178,533

 
$
122,497

$
62,035

$
184,532

Provision
(2,479
)
8,060

5,581

 
(10,125
)
29,086

18,961

Deductions:
 
 
 
 
 
 
 
   Loans charged off
1,795

12,480

14,275

 
7,502

39,710

47,212

   Less recoveries on loans
1,720

3,473

5,193

 
7,247

11,504

18,751

Net loans charged off
75

9,007

9,082

 
255

28,206

28,461

Balance September 30, 2012
$
112,117

$
62,915

$
175,032

 
$
112,117

$
62,915

$
175,032


A summary of the activity in the allowance for loan losses during the three and nine months ended September 30, 2011 follows:
 
 
For the Three Months Ended September 30
 
For the Nine Months Ended September 30
(In thousands)
 
Commercial
Personal Banking

Total
 
Commercial
Personal Banking

Total
Balance at beginning of period
$
127,263

$
64,275

$
191,538

 
$
119,946

$
77,592

$
197,538

Provision
1,503

9,892

11,395

 
16,783

22,589

39,372

Deductions:
 
 
 
 
 
 
 
   Loans charged off
4,047

14,831

18,878

 
14,357

47,512

61,869

   Less recoveries on loans
514

3,469

3,983

 
2,861

10,136

12,997

Net loans charged off
3,533

11,362

14,895

 
11,496

37,376

48,872

Balance September 30, 2011
$
125,233

$
62,805

$
188,038

 
$
125,233

$
62,805

$
188,038
Allowance For Loan Losses And Related Loan Balance Disaggregated On The Basis Of Impairment Methodology
The following table shows the balance in the allowance for loan losses and the related loan balance at September 30, 2012 and December 31, 2011, disaggregated on the basis of impairment methodology. Impaired loans evaluated under ASC 310-10-35 include loans on non-accrual status, which are individually evaluated for impairment, and other impaired loans discussed below, which are deemed to have similar risk characteristics and are collectively evaluated. All other loans are collectively evaluated for impairment under ASC 450-20.
 
Impaired Loans
 
All Other Loans

(In thousands)
Allowance for Loan Losses
Loans Outstanding
 
Allowance for Loan Losses
Loans Outstanding
September 30, 2012
 
 
 
 
 
Commercial
$
6,542

$
88,678

 
$
105,575

$
5,538,549

Personal Banking
1,952

26,284

 
60,963

3,985,134

Total
$
8,494

$
114,962

 
$
166,538

$
9,523,683

December 31, 2011
 
 
 
 
 
Commercial
$
6,668

$
108,167

 
$
115,829

$
5,266,796

Personal Banking
4,090

31,088

 
57,945

3,771,427

Total
$
10,758

$
139,255

 
$
173,774

$
9,038,223
Investment In Impaired Loans

The table below shows the Company’s investment in impaired loans at September 30, 2012 and December 31, 2011. These loans consist of loans on non-accrual status and other restructured loans whose terms have been modified and classified as troubled debt restructurings under ASC 310-40. The restructured loans have been extended to borrowers who are experiencing financial difficulty and who have been granted a concession. They are largely comprised of certain business, construction and business real estate loans classified as substandard. Upon maturity, the loans renewed at interest rates that were judged not to be market rates for new debt with similar risk, and as a result were classified as troubled debt restructurings. These loans totaled $44.4 million at September 30, 2012 and $41.3 million at December 31, 2011. These restructured loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. Restructured loans also include certain credit card loans under various debt management and assistance programs, which totaled $15.4 million at September 30, 2012 and $22.4 million at December 31, 2011.
(In thousands)
 
Sept. 30, 2012
 
Dec. 31, 2011
Non-accrual loans
 
$
55,201

 
$
75,482

Restructured loans (accruing)
 
59,761

 
63,773

Total impaired loans
 
$
114,962

 
$
139,255
Additional Information About Impaired Loans Held
The following table provides additional information about impaired loans held by the Company at September 30, 2012 and December 31, 2011, segregated between loans for which an allowance for credit losses has been provided and loans for which no allowance has been provided.


(In thousands)
Recorded Investment
Unpaid Principal
Balance
 Related
Allowance
September 30, 2012
 
 
 
With no related allowance recorded:
 
 
 
Business
$
10,674

$
12,291

$
—

Real estate – construction and land
7,173

13,558

—

Real estate – business
7,289

8,524

—

Real estate – personal
1,262

1,390

—

Revolving home equity
510

843

—

 
$
26,908

$
36,606

$
—

With an allowance recorded:
 
 
 
Business
$
19,644

$
23,758

$
1,873

Real estate – construction and land
27,101

40,728

2,328

Real estate – business
16,797

22,336

2,341

Real estate – personal
7,601

10,746

764

Consumer
1,435

1,475

21

Revolving home equity
73

73

1

Consumer credit card
15,403

15,403

1,166

 
$
88,054

$
114,519

$
8,494

Total
$
114,962

$
151,125

$
8,494

December 31, 2011
 
 
 
With no related allowance recorded:
 
 
 
Business
$
19,759

$
22,497

$
—

Real estate – construction and land
8,391

22,746

—

Real estate – business
6,853

9,312

—

Real estate – personal
793

793

—

 
$
35,796

$
55,348

$
—

With an allowance recorded:
 
 
 
Business
$
15,604

$
19,286

$
1,500

Real estate – construction and land
37,387

47,516

2,580

Real estate – business
20,173

24,799

2,588

Real estate – personal
7,867

10,671

795

Consumer credit card
22,428

22,428

3,295

 
$
103,459

$
124,700

$
10,758

Total
$
139,255

$
180,048

$
10,758
Total Average Impaired Loans
Total average impaired loans for the three and nine month periods ending September 30, 2012 and 2011, respectively, are shown in the table below.

(In thousands)
Commercial
Personal Banking
Total
Average Impaired Loans:
 
 
 
For the three months ended September 30, 2012
 
 
 
Non-accrual loans
$
51,337

$
7,621

$
58,958

Restructured loans (accruing)
41,885

19,750

61,635

Total
$
93,222

$
27,371

$
120,593

For the nine months ended September 30, 2012
 
 
 
Non-accrual loans
$
59,159

$
7,399

$
66,558

Restructured loans (accruing)
44,063

21,204

65,267

Total
$
103,222

$
28,603

$
131,825

For the three months ended September 30, 2011
 
 
 
Non-accrual loans
$
68,554

$
7,733

$
76,287

Restructured loans (accruing)
41,993

22,522

64,515

Total
$
110,547

$
30,255

$
140,802

For the nine months ended September 30, 2011
 
 
 
Non-accrual loans
$
70,962

$
7,277

$
78,239

Restructured loans (accruing)
43,652

21,584

65,236

Total
$
114,614

$
28,861

$
143,475
Interest Income Recognized On Impaired Loans
The table below shows interest income recognized during the three and nine month periods ending September 30, 2012 and 2011 for impaired loans held at the end of each respective period. This interest relates to accruing restructured loans, as discussed above.
 
For the Three Months Ended September 30
 
For the Nine Months Ended September 30
(In thousands)
2012
2011
 
2012
2011
Interest income recognized on impaired loans:
 
 
 
 
 
Business
$
248

$
72

 
$
745

$
217

Real estate – construction and land
210

192

 
630

575

Real estate – business
72

174

 
216

522

Real estate – personal
22

8

 
65

24

Consumer
16

—

 
47

—

Revolving home equity
1

—

 
2

—

Consumer credit card
328

484

 
983

1,451

Total
$
897

$
930

 
$
2,688

$
2,789
Aging Information On Past Due And Nonaccrual Loans
The following table provides aging information on the Company’s past due and accruing loans, in addition to the balances of loans on non-accrual status, at September 30, 2012 and December 31, 2011.




(In thousands)
Current or Less Than 30 Days Past Due

30 – 89
Days Past Due
90 Days Past Due and Still Accruing
Non-accrual



Total
September 30, 2012
 
 
 
 
 
Commercial:
 
 
 
 
 
Business
$
3,081,649

$
2,598

$
595

$
14,066

$
3,098,908

Real estate – construction and land
318,841

549

300

15,423

335,113

Real estate – business
2,158,019

16,668

90

18,429

2,193,206

Personal Banking:
 
 
 
 
 
Real estate – personal
1,535,326

12,988

1,798

6,642

1,556,754

Consumer
1,226,713

15,350

1,206

131

1,243,400

Revolving home equity
450,540

1,494

983

510

453,527

Consumer credit card
732,749

8,876

7,260

—

748,885

Overdrafts
8,516

336

—

—

8,852

Total
$
9,512,353

$
58,859

$
12,232

$
55,201

$
9,638,645

December 31, 2011
 
 
 
 
 
Commercial:
 
 
 
 
 
Business
$
2,777,578

$
4,368

$
595

$
25,724

$
2,808,265

Real estate – construction and land
362,592

1,113

121

22,772

386,598

Real estate – business
2,151,822

8,875

29

19,374

2,180,100

Personal Banking:
 
 
 
 
 
Real estate – personal
1,406,449

11,671

3,045

7,612

1,428,777

Consumer
1,096,742

15,917

2,230

—

1,114,889

Revolving home equity
461,941

1,003

643

—

463,587

Consumer credit card
769,922

10,484

8,295

—

788,701

Overdrafts
6,173

388

—

—

6,561

Total
$
9,033,219

$
53,819

$
14,958

$
75,482

$
9,177,478
Credit Quality Of Commercial Loan Portfolio
The following table provides information about the credit quality of the Commercial loan portfolio, using the Company’s internal rating system as an indicator. The internal rating system is a series of grades reflecting management’s risk assessment, based on its analysis of the borrower’s financial condition. The “pass” category consists of a range of loan grades that reflect increasing, though still acceptable, risk. Movement of risk through the various grade levels in the “pass” category is monitored for early identification of credit deterioration. The “special mention” rating is attached to loans where the borrower exhibits negative financial trends due to borrower specific or systemic conditions that, if left uncorrected, threaten its capacity to meet its debt obligations. The borrower is believed to have sufficient financial flexibility to react to and resolve its negative financial situation. It is a transitional grade that is closely monitored for improvement or deterioration. The “substandard” rating is applied to loans where the borrower exhibits well-defined weaknesses that jeopardize its continued performance and are of a severity that the distinct possibility of default exists. Loans are placed on “non-accrual” when management does not expect to collect payments consistent with acceptable and agreed upon terms of repayment.
Commercial Loans


(In thousands)


Business
Real
 Estate-Construction
Real
Estate-
Business


Total
September 30, 2012
 
 
 
 
Pass
$
2,978,076

$
276,077

$
2,057,584

$
5,311,737

Special mention
56,130

7,388

44,936

108,454

Substandard
50,636

36,225

72,257

159,118

Non-accrual
14,066

15,423

18,429

47,918

Total
$
3,098,908

$
335,113

$
2,193,206

$
5,627,227

December 31, 2011
 
 
 
 
Pass
$
2,669,868

$
304,408

$
1,994,391

$
4,968,667

Special mention
37,460

4,722

52,683

94,865

Substandard
75,213

54,696

113,652

243,561

Non-accrual
25,724

22,772

19,374

67,870

Total
$
2,808,265

$
386,598

$
2,180,100

$
5,374,963
Summary Of Loans In The Personal Banking Portfolio Percentage Of Balances Outstanding
For the remainder of loans in the Personal Banking portfolio, the table below shows the percentage of balances outstanding at September 30, 2012 and December 31, 2011 by FICO score.
   Personal Banking Loans
 
% of Loan Category
 
Real Estate - Personal
Consumer
Revolving Home Equity
Consumer Credit Card
September 30, 2012
 
 
 
 
FICO score:
 
 
 
 
Under 600
2.4
%
6.5
%
2.4
%
4.4
%
600 - 659
3.6

10.4

5.6

11.6

660 - 719
10.0

24.3

16.3

32.7

720 - 779
26.7

26.7

29.0

28.4

780 and Over
57.3

32.1

46.7

22.9

Total
100.0
%
100.0
%
100.0
%
100.0
%
December 31, 2011
 
 
 
 
FICO score:
 
 
 
 
Under 600
3.4
%
8.4
%
2.6
%
4.9
%
600 - 659
4.1

11.0

4.9

11.2

660 - 719
12.2

23.2

15.1

31.0

720 - 779
29.2

26.0

26.3

29.0

780 and Over
51.1

31.4

51.1

23.9

Total
100.0
%
100.0
%
100.0
%
100.0
%
Outstanding Balance Of Loans Classified As Troubled Debt Restructurings
The following table shows the outstanding balances at September 30, 2012 of loans classified as troubled debt restructurings, in addition to the outstanding balances of these restructured loans which the Company considers to have been in default at any time during the past twelve months. For purposes of this disclosure, the Company considers "default" to mean 90 days or more past due as to interest or principal.
(In thousands)
September 30, 2012
Balance 90 days past due at any time during previous 12 months
Commercial:
 
 
Business
$
25,951

$
974

Real estate - construction and land
32,180

8,189

Real estate - business
8,003

357

Personal Banking:
 
 
Real estate - personal
4,350

553

Consumer
1,304

—

Revolving home equity
73

49

Consumer credit card
15,403

887

Total restructured loans
$
87,264

$
11,009