x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
¨ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
OHIO | 34-1339938 | |
(State or other jurisdiction of incorporation or organization) | (IRS Employer Identification Number) |
Large accelerated filer | x | Accelerated filer | ¨ | |
Non-accelerated filer | ¨ (Do not check if a smaller reporting company) | Smaller reporting company | ¨ |
TABLE OF CONTENTS | ||
PART 1. FINANCIAL INFORMATION | ||
ITEM 1. FINANCIAL STATEMENTS | ||
ITEM 4. MINE SAFETY DISCLOSURES | ||
EX-31.1 | ||
EX-31.2 | ||
EX-32.1 | ||
EX-32.2 | ||
EX-101 INSTANCE DOCUMENT | ||
EX-101 SCHEMA DOCUMENT | ||
EX-101 CALCULATION LINKBASE DOCUMENT | ||
EX-101 LABELS LINKBASE DOCUMENT | ||
EX-101 PRESENTATION LINKBASE DOCUMENT | ||
EX-101 DEFINITION LINKBASE DOCUMENT |
(Dollars in thousands) (Unaudited, except December 31, 2011, which is derived from the audited financial statements) | September 30, 2012 | December 31, 2011 | September 30, 2011 | ||||||||
ASSETS | |||||||||||
Cash and due from banks | $ | 201,359 | $ | 219,256 | $ | 202,886 | |||||
Interest-bearing deposits in banks | 37,058 | 158,063 | 116,059 | ||||||||
Total cash and cash equivalents | 238,417 | 377,319 | 318,945 | ||||||||
Investment securities | |||||||||||
Held-to-maturity | 620,631 | 82,764 | 92,214 | ||||||||
Available-for-sale | 2,911,993 | 3,353,553 | 3,198,046 | ||||||||
Other investments | 140,730 | 140,726 | 160,793 | ||||||||
Loans held for sale | 17,540 | 30,077 | 39,340 | ||||||||
Noncovered loans: | |||||||||||
Commercial | 5,511,678 | 5,107,747 | 5,018,857 | ||||||||
Residential mortgage | 439,062 | 413,664 | 397,309 | ||||||||
Installment | 1,321,081 | 1,263,665 | 1,271,327 | ||||||||
Home equity | 789,743 | 743,982 | 743,377 | ||||||||
Credit cards | 143,918 | 146,356 | 142,710 | ||||||||
Leases | 110,938 | 73,530 | 57,992 | ||||||||
Total noncovered loans | 8,316,420 | 7,748,944 | 7,631,572 | ||||||||
Allowance for noncovered loan losses | (98,942 | ) | (107,699 | ) | (109,187 | ) | |||||
Net noncovered loans | 8,217,478 | 7,641,245 | 7,522,385 | ||||||||
Covered loans (includes loss share receivable of $131.9 million, $205.7 million and $220.5million at September 30, 2012, December 31, 2011 and September 30, 2011, respectively) | 1,174,929 | 1,497,140 | 1,647,218 | ||||||||
Allowance for covered loan losses | (43,644 | ) | (36,417 | ) | (34,603 | ) | |||||
Net covered loans | 1,131,285 | 1,460,723 | 1,612,615 | ||||||||
Net loans | 9,348,763 | 9,101,968 | 9,135,000 | ||||||||
Premises and equipment, net | 182,043 | 192,949 | 193,075 | ||||||||
Goodwill | 460,044 | 460,044 | 460,044 | ||||||||
Intangible assets | 6,817 | 8,239 | 8,782 | ||||||||
Covered other real estate (includes loss share receivable of $0.1 million, $1.3 million and $3.5 million at September 30, 2012, December 31, 2011 and September 30, 2011, respectively) | 56,795 | 54,505 | 61,890 | ||||||||
Accrued interest receivable and other assets | 645,070 | 639,558 | 1,020,149 | ||||||||
Total assets | $ | 14,628,843 | $ | 14,441,702 | $ | 14,688,278 | |||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||
Deposits: | |||||||||||
Noninterest-bearing | $ | 3,231,500 | $ | 3,030,225 | $ | 2,971,555 | |||||
Interest-bearing | 1,079,913 | 1,062,896 | 967,574 | ||||||||
Savings and money market accounts | 5,744,103 | 5,595,409 | 5,513,472 | ||||||||
Certificates and other time deposits | 1,476,910 | 1,743,079 | 1,943,520 | ||||||||
Total deposits | 11,532,426 | 11,431,609 | 11,396,121 | ||||||||
Federal funds purchased and securities sold under agreements to repurchase | 963,455 | 866,265 | 987,030 | ||||||||
Wholesale borrowings | 178,083 | 203,462 | 248,006 | ||||||||
Accrued taxes, expenses, and other liabilities | 330,175 | 374,413 | 486,467 | ||||||||
Total liabilities | 13,004,139 | 12,875,749 | 13,117,624 | ||||||||
Shareholders’ equity: | |||||||||||
Preferred stock, without par value: authorized and unissued 7,000,000 shares | — | — | — | ||||||||
Preferred stock, Series A, without par value: designated 800,000 shares; none outstanding | — | — | — | ||||||||
Convertible preferred stock, Series B, without par value: designated 220,000 shares; none outstanding | — | — | — | ||||||||
Common stock, without par value; authorized 300,000,000 shares; issued: September 30, 2012, December 31, 2011 and September 30, 2011 - 115,121,731 shares | 127,937 | 127,937 | 127,937 | ||||||||
Capital surplus | 473,781 | 479,882 | 478,738 | ||||||||
Accumulated other comprehensive loss | (13,900 | ) | (23,887 | ) | (4,654 | ) | |||||
Retained earnings | 1,175,001 | 1,131,203 | 1,118,027 | ||||||||
Treasury stock, at cost: September 30, 2012 - 5,468,853 shares; December 31, 2011 - 5,870,923 shares; September 30, 2011 -5,874,748 shares | (138,115 | ) | (149,182 | ) | (149,394 | ) | |||||
Total shareholders’ equity | 1,624,704 | 1,565,953 | 1,570,654 | ||||||||
Total liabilities and shareholders’ equity | $ | 14,628,843 | $ | 14,441,702 | $ | 14,688,278 |
(Dollars in thousands except per share data) | Quarters ended | Nine Months Ended | |||||||||||||
(Unaudited) | September 30, | September 30, | |||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Interest income: | |||||||||||||||
Loans and loans held for sale | $ | 103,005 | $ | 108,417 | $ | 309,213 | $ | 330,877 | |||||||
Investment securities | |||||||||||||||
Taxable | 20,633 | 21,949 | 64,834 | 65,610 | |||||||||||
Tax-exempt | 3,844 | 3,189 | 11,270 | 9,521 | |||||||||||
Total investment securities interest | 24,477 | 25,138 | 76,104 | 75,131 | |||||||||||
Total interest income | 127,482 | 133,555 | 385,317 | 406,008 | |||||||||||
Interest expense: | |||||||||||||||
Deposits: | |||||||||||||||
Demand-interest bearing | 243 | 218 | 726 | 579 | |||||||||||
Savings and money market accounts | 5,166 | 6,929 | 15,302 | 22,172 | |||||||||||
Certificates and other time deposits | 2,743 | 4,370 | 9,436 | 16,803 | |||||||||||
Securities sold under agreements to repurchase | 310 | 977 | 854 | 2,832 | |||||||||||
Wholesale borrowings | 1,130 | 1,669 | 3,399 | 4,963 | |||||||||||
Total interest expense | 9,592 | 14,163 | 29,717 | 47,349 | |||||||||||
Net interest income | 117,890 | 119,392 | 355,600 | 358,659 | |||||||||||
Provision for noncovered loan losses | 9,965 | 14,604 | 26,860 | 41,760 | |||||||||||
Provision for covered loan losses | 6,214 | 4,768 | 15,576 | 17,580 | |||||||||||
Net interest income after provision for loan losses | 101,711 | 100,020 | 313,164 | 299,319 | |||||||||||
Other income: | |||||||||||||||
Trust department income | 6,124 | 5,607 | 17,481 | 16,983 | |||||||||||
Service charges on deposits | 14,603 | 17,838 | 43,490 | 48,460 | |||||||||||
Credit card fees | 11,006 | 13,640 | 32,402 | 39,357 | |||||||||||
ATM and other service fees | 3,680 | 3,801 | 11,360 | 9,781 | |||||||||||
Bank owned life insurance income | 3,094 | 3,182 | 9,073 | 11,439 | |||||||||||
Investment services and insurance | 2,208 | 1,965 | 6,843 | 6,384 | |||||||||||
Investment securities gains, net | 553 | 4,402 | 1,361 | 5,291 | |||||||||||
Loan sales and servicing income | 7,255 | 3,426 | 19,085 | 9,102 | |||||||||||
Other operating income | 6,402 | 6,911 | 20,857 | 18,222 | |||||||||||
Total other income | 54,925 | 60,772 | 161,952 | 165,019 | |||||||||||
Other expenses: | |||||||||||||||
Salaries, wages, pension and employee benefits | 58,061 | 61,232 | 183,632 | 177,815 | |||||||||||
Net occupancy expense | 8,077 | 8,464 | 24,640 | 25,144 | |||||||||||
Equipment expense | 7,143 | 7,073 | 21,845 | 20,725 | |||||||||||
Stationery, supplies and postage | 2,210 | 2,517 | 6,638 | 7,972 | |||||||||||
Bankcard, loan processing and other costs | 8,424 | 8,449 | 24,935 | 24,278 | |||||||||||
Professional services | 4,702 | 5,732 | 17,361 | 17,466 | |||||||||||
Amortization of intangibles | 456 | 543 | 1,422 | 1,629 | |||||||||||
FDIC expense | 1,832 | 3,240 | 9,015 | 12,187 | |||||||||||
Other operating expense | 17,682 | 18,707 | 51,944 | 53,254 | |||||||||||
Total other expenses | 108,587 | 115,957 | 341,432 | 340,470 | |||||||||||
Income before income tax expense | 48,049 | 44,835 | 133,684 | 123,868 | |||||||||||
Income tax expense | 13,096 | 13,098 | 37,802 | 34,808 | |||||||||||
Net income | $ | 34,953 | $ | 31,737 | $ | 95,882 | $ | 89,060 | |||||||
Other comprehensive income, net of taxes | |||||||||||||||
Changes in unrealized securities' holding gains and losses | $ | 4,884 | $ | 7,353 | $ | 10,872 | $ | 24,889 | |||||||
Reclassification for realized securities' gains | (359 | ) | (2,862 | ) | (885 | ) | (3,440 | ) | |||||||
Total other comprehensive gain, net of taxes | 4,525 | 4,491 | 9,987 | 21,449 | |||||||||||
Comprehensive income | $ | 39,478 | $ | 36,228 | $ | 105,869 | $ | 110,509 | |||||||
Net income applicable to common shares | $ | 34,953 | $ | 31,737 | $ | 95,882 | $ | 89,060 | |||||||
Net income used in diluted EPS calculation | $ | 34,953 | $ | 31,737 | $ | 95,882 | $ | 89,060 | |||||||
Weighted average number of common shares outstanding - basic | 109,645 | 109,245 | 109,473 | 109,052 | |||||||||||
Weighted average number of common shares outstanding - diluted | 109,645 | 109,246 | 109,473 | 109,053 | |||||||||||
Basic earnings per common share | $ | 0.32 | $ | 0.29 | $ | 0.88 | $ | 0.82 | |||||||
Diluted earnings per common share | $ | 0.32 | $ | 0.29 | $ | 0.88 | $ | 0.82 | |||||||
Dividend per common share | $ | 0.16 | $ | 0.16 | $ | 0.48 | $ | 0.48 |
(In thousands) | Preferred Stock | Common Stock | Common Stock Warrant | Capital Surplus | Accumulated Other Comprehensive Income (Loss) | Retained Earnings | Treasury Stock | Total Shareholders’ Equity | |||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||||
Balance at December 31, 2010 | $ | — | $ | 127,937 | $ | — | $ | 485,567 | $ | (26,103 | ) | $ | 1,080,900 | $ | (160,586 | ) | $ | 1,507,715 | |||||||||||||
Net income | — | — | — | — | — | 89,060 | — | 89,060 | |||||||||||||||||||||||
Cash dividends - common stock ($0.48 per share) | — | — | — | — | — | (51,933 | ) | — | (51,933 | ) | |||||||||||||||||||||
Nonvested (restricted) shares granted (576,138 shares) | — | — | — | (13,985 | ) | — | — | 13,985 | — | ||||||||||||||||||||||
Restricted stock activity (145,668 shares) | — | — | — | 494 | — | — | (2,751 | ) | (2,257 | ) | |||||||||||||||||||||
Deferred compensation trust (10,182 increase in shares) | — | — | — | 42 | — | — | (42 | ) | — | ||||||||||||||||||||||
Share-based compensation | — | — | — | 6,620 | — | — | — | 6,620 | |||||||||||||||||||||||
Net unrealized gains on investment securities, net of taxes | — | — | — | — | 21,449 | — | — | 21,449 | |||||||||||||||||||||||
Balance at September 30, 2011 | $ | — | $ | 127,937 | $ | — | $ | 478,738 | $ | (4,654 | ) | $ | 1,118,027 | $ | (149,394 | ) | $ | 1,570,654 | |||||||||||||
Balance at December 31, 2011 | $ | — | $ | 127,937 | $ | — | $ | 479,882 | $ | (23,887 | ) | $ | 1,131,203 | $ | (149,182 | ) | $ | 1,565,953 | |||||||||||||
Net income | — | — | — | — | — | 95,882 | — | 95,882 | |||||||||||||||||||||||
Cash dividends - common stock ($0.48 per share) | — | — | — | — | — | (52,084 | ) | — | (52,084 | ) | |||||||||||||||||||||
Nonvested (restricted) shares granted (588,765 shares) | — | — | — | (14,481 | ) | — | — | 14,481 | — | ||||||||||||||||||||||
Restricted stock activity (186,695 shares) | — | — | — | 1,023 | — | — | (3,364 | ) | (2,341 | ) | |||||||||||||||||||||
Deferred compensation trust (86,174 increase in shares) | — | — | — | 50 | — | — | (50 | ) | — | ||||||||||||||||||||||
Share-based compensation | — | — | — | 7,258 | — | — | — | 7,258 | |||||||||||||||||||||||
Net unrealized gains on investment securities, net of taxes | — | — | — | — | 9,987 | — | — | 9,987 | |||||||||||||||||||||||
Other | — | — | — | 49 | — | — | — | 49 | |||||||||||||||||||||||
Balance at September 30, 2012 | $ | — | $ | 127,937 | $ | — | $ | 473,781 | $ | (13,900 | ) | $ | 1,175,001 | $ | (138,115 | ) | $ | 1,624,704 |
Nine months ended September 30, | |||||||
(Dollars in thousands) | 2012 | 2011 | |||||
(Unaudited) | |||||||
Operating Activities | |||||||
Net income | $ | 95,882 | $ | 89,060 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
Provision for loan losses | 42,436 | 59,340 | |||||
Depreciation and amortization | 17,307 | 17,016 | |||||
Benefit attributable to FDIC loss share | 12,601 | 31,078 | |||||
Accretion of acquired loans | (62,191 | ) | (91,872 | ) | |||
Accretion income for lease financing | (2,168 | ) | (1,928 | ) | |||
Amortization and accretion of securities, net | |||||||
Available for sale | 11,352 | 11,129 | |||||
Held to maturity | 1,239 | 25 | |||||
Gain on sales and calls of investment securities, net | |||||||
Available for sale | (1,361 | ) | (5,291 | ) | |||
Originations of loans held for sale | (575,972 | ) | (322,760 | ) | |||
Proceeds from sales of loans, primarily mortgage loans sold in the secondary mortgage markets | 596,412 | 329,967 | |||||
Gains on sales of loans, net | (7,903 | ) | (5,208 | ) | |||
Amortization of intangible assets | 1,422 | 1,629 | |||||
Net change in assets and liabilities | |||||||
Interest receivable | (1,375 | ) | (195 | ) | |||
Interest payable | (1,117 | ) | (1,934 | ) | |||
Prepaid assets | 2,420 | (5,989 | ) | ||||
Bank owned life insurance | (9,073 | ) | (7,378 | ) | |||
Employee pension liability | (258 | ) | (2,287 | ) | |||
Other assets and liabilities | 3,888 | (1,501 | ) | ||||
NET CASH PROVIDED BY OPERATING ACTIVITIES | 123,541 | 92,901 | |||||
Investing Activities | |||||||
Proceeds from sales of securities | |||||||
Available for sale | 190,813 | 182,781 | |||||
Proceeds from prepayments, calls, and maturities | |||||||
Available for sale | 611,382 | 778,697 | |||||
Held to maturity | 42,409 | 18,901 | |||||
Other | — | 12 | |||||
Purchases of securities | |||||||
Available for sale | (878,624 | ) | (1,338,279 | ) | |||
Held to maturity | (98,893 | ) | (51,151 | ) | |||
Other | (42 | ) | (79 | ) | |||
Net decrease in loans and leases | (241,290 | ) | (81,096 | ) | |||
Purchases of premises and equipment, net | (6,401 | ) | (12,225 | ) | |||
NET CASH USED BY INVESTING ACTIVITIES | (380,646 | ) | (502,439 | ) | |||
Financing Activities | |||||||
Net increase in demand accounts | 218,292 | 280,175 | |||||
Net increase in savings and money market accounts | 148,694 | 701,689 | |||||
Net decrease in certificates and other time deposits | (266,169 | ) | (853,748 | ) | |||
Net increase in securities sold under agreements to repurchase | 97,190 | 209,445 | |||||
Net decrease in wholesale borrowings | (25,379 | ) | (78,001 | ) | |||
Cash dividends - common | (52,084 | ) | (51,933 | ) | |||
Restricted stock activity | (2,341 | ) | (2,257 | ) | |||
NET CASH PROVIDED BY FINANCING ACTIVITIES | 118,203 | 205,370 | |||||
Decrease in cash and cash equivalents | (138,902 | ) | (204,168 | ) | |||
Cash and cash equivalents at beginning of period | 377,319 | 523,113 | |||||
Cash and cash equivalents at end of period | $ | 238,417 | $ | 318,945 | |||
SUPPLEMENTAL DISCLOSURES | |||||||
Cash paid during the period for: | |||||||
Interest, net of amounts capitalized | $ | 27,462 | $ | 43,055 | |||
Federal income taxes | $ | 43,421 | $ | 7,915 |
Employee Separation | Contract Termination | Long-Lived Asset Charges | Other | Total | |||||||||||||||
Total expected restructuring charge | $ | 3,254 | $ | 415 | $ | 337 | $ | 200 | $ | 4,206 | |||||||||
Balance at June 30, 2012 | $ | 1,443 | $ | — | $ | — | $ | — | $ | 1,443 | |||||||||
Charge to expense | — | 415 | — | 38 | 453 | ||||||||||||||
Cash payments | (1,128 | ) | (168 | ) | — | (38 | ) | (1,334 | ) | ||||||||||
Noncash utilization | — | — | — | — | — | ||||||||||||||
Balance at September 30, 2012 | $ | 315 | $ | 247 | $ | — | $ | — | $ | 562 | |||||||||
Remaining expected restructuring charge | $ | — | $ | — | $ | — | $ | — | $ | — |
September 30, 2012 | |||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | ||||||||||||
Securities available for sale | |||||||||||||||
Debt Securities | |||||||||||||||
U.S. government agency debentures | $ | 35,109 | $ | 28 | $ | — | $ | 35,137 | |||||||
U.S. States and political subdivisions | 241,436 | 17,003 | (21 | ) | 258,418 | ||||||||||
Residential mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 1,216,671 | 61,160 | — | 1,277,831 | |||||||||||
Commercial mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 15,434 | 233 | — | 15,667 | |||||||||||
Residential collateralized mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 1,188,072 | 17,836 | (383 | ) | 1,205,525 | ||||||||||
Non-agency | 12 | — | — | 12 | |||||||||||
Commercial collateralized mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 66,316 | 2,349 | — | 68,665 | |||||||||||
Corporate debt securities | 61,527 | — | (14,034 | ) | 47,493 | ||||||||||
Total debt securities | 2,824,577 | 98,609 | (14,438 | ) | 2,908,748 | ||||||||||
Marketable equity securities | 3,245 | — | — | 3,245 | |||||||||||
Total securities available for sale | $ | 2,827,822 | $ | 98,609 | $ | (14,438 | ) | $ | 2,911,993 | ||||||
Securities held to maturity | |||||||||||||||
Debt Securities | |||||||||||||||
U.S. States and political subdivisions | $ | 262,091 | $ | 6,946 | $ | (17 | ) | $ | 269,020 | ||||||
Commercial mortgage-backed securities: | |||||||||||||||
U.S. government agency obligations | 33,149 | 792 | — | 33,941 | |||||||||||
Residential collateralized mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 129,265 | 396 | — | 129,661 | |||||||||||
Commercial collateralized mortgage obligations: | |||||||||||||||
U.S. government agency obligations | 98,961 | 1,054 | — | 100,015 | |||||||||||
Corporate debt securities | 97,165 | 1,435 | — | 98,600 | |||||||||||
Total securities held to maturity | $ | 620,631 | $ | 10,623 | $ | (17 | ) | $ | 631,237 |
December 31, 2011 | |||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | ||||||||||||
Securities available for sale | |||||||||||||||
Debt Securities | |||||||||||||||
U.S. government agency debentures | $ | 122,711 | $ | 358 | $ | — | $ | 123,069 | |||||||
U.S. States and political subdivisions | 334,916 | 22,865 | (50 | ) | 357,731 | ||||||||||
Residential mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 1,407,345 | 53,129 | (131 | ) | 1,460,343 | ||||||||||
Residential collateralized mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 1,115,832 | 22,058 | (55 | ) | 1,137,835 | ||||||||||
Non-agency | 43,225 | 82 | — | 43,307 | |||||||||||
Commercial collateralized mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 127,624 | 1,648 | (145 | ) | 129,127 | ||||||||||
Corporate debt securities | 115,947 | 276 | (17,381 | ) | 98,842 | ||||||||||
Total debt securities | 3,267,600 | 100,416 | (17,762 | ) | 3,350,254 | ||||||||||
Marketable equity securities | 3,299 | — | — | 3,299 | |||||||||||
Total securities available for sale | $ | 3,270,899 | $ | 100,416 | $ | (17,762 | ) | $ | 3,353,553 | ||||||
Securities held to maturity | |||||||||||||||
Debt Securities | |||||||||||||||
U.S. States and political subdivisions | $ | 82,764 | $ | 2,348 | $ | — | $ | 85,112 | |||||||
Total securities held to maturity | $ | 82,764 | $ | 2,348 | $ | — | $ | 85,112 |
September 30, 2011 | |||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | ||||||||||||
Securities available for sale | |||||||||||||||
Debt Securities | |||||||||||||||
U.S. government agency debentures | $ | 203,148 | $ | 590 | $ | (20 | ) | $ | 203,718 | ||||||
U.S. States and political subdivisions | 298,140 | 16,426 | (125 | ) | 314,441 | ||||||||||
Residential mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 1,419,808 | 61,416 | (2 | ) | 1,481,222 | ||||||||||
Residential collateralized mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 1,080,627 | 23,327 | (45 | ) | 1,103,909 | ||||||||||
Non-agency | 44,715 | 139 | — | 44,854 | |||||||||||
Corporate debt securities | 61,474 | — | (15,287 | ) | 46,187 | ||||||||||
Total debt securities | 3,107,912 | 101,898 | (15,479 | ) | 3,194,331 | ||||||||||
Marketable equity securities | 3,715 | — | — | 3,715 | |||||||||||
Total securities available for sale | $ | 3,111,627 | $ | 101,898 | $ | (15,479 | ) | $ | 3,198,046 | ||||||
Securities held to maturity | |||||||||||||||
Debt Securities | |||||||||||||||
U.S. States and political subdivisions | $ | 92,214 | $ | 2,707 | $ | — | $ | 94,921 | |||||||
Total securities held to maturity | $ | 92,214 | $ | 2,707 | $ | — | $ | 94,921 |
September 30, 2012 | December 31, 2011 | September 30, 2011 | |||||||||
FRB stock | $ | 21,045 | $ | 21,003 | $ | 20,804 | |||||
FHLB stock | 119,145 | 119,145 | 139,398 | ||||||||
Other | 540 | 578 | 591 | ||||||||
Total other investments | $ | 140,730 | $ | 140,726 | $ | 160,793 |
September 30, 2012 | |||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||
Fair Value | Unrealized Losses | Number of Impaired Securities | Fair Value | Unrealized Losses | Number of Impaired Securities | Fair Value | Unrealized Losses | ||||||||||||||||||||||
Debt Securities | |||||||||||||||||||||||||||||
U.S. government agency debentures | $ | — | $ | — | — | $ | — | $ | — | — | $ | — | $ | — | |||||||||||||||
U.S. States and political subdivisions | 3,560 | (21 | ) | 8 | — | — | — | 3,560 | (21 | ) | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||
U.S. government agencies | — | — | — | 14 | — | 1 | 14 | — | |||||||||||||||||||||
Commercial mortgage-backed securities: | |||||||||||||||||||||||||||||
U.S. government agencies | — | — | — | — | — | — | — | — | |||||||||||||||||||||
Residential collateralized mortgage-backed securities: | |||||||||||||||||||||||||||||
U.S. government agencies | 121,427 | (379 | ) | 8 | 1,581 | (4 | ) | 1 | 123,008 | (383 | ) | ||||||||||||||||||
U.S. non agencies | — | — | — | 2 | — | 1 | 2 | — | |||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | |||||||||||||||||||||||||||||
U.S. government agencies | — | — | — | — | — | — | — | — | |||||||||||||||||||||
Corporate debt securities | — | — | — | 47,493 | (14,034 | ) | 8 | 47,493 | (14,034 | ) | |||||||||||||||||||
Total temporarily impaired securities | $ | 124,987 | $ | (400 | ) | 16 | $ | 49,090 | $ | (14,038 | ) | 11 | $ | 174,077 | $ | (14,438 | ) |
December 31, 2011 | |||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||
Fair Value | Unrealized Losses | Number of Impaired Securities | Fair Value | Unrealized Losses | Number of Impaired Securities | Fair Value | Unrealized Losses | ||||||||||||||||||||||
Debt Securities | |||||||||||||||||||||||||||||
U.S. States and political subdivisions | $ | 5,249 | $ | (50 | ) | 6 | $ | — | $ | — | — | $ | 5,249 | $ | (50 | ) | |||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||
U.S. government agencies | 40,020 | (129 | ) | 4 | 149 | (2 | ) | 1 | 40,169 | (131 | ) | ||||||||||||||||||
Residential collateralized mortgage-backed securities: | |||||||||||||||||||||||||||||
U.S. government agencies | 48,003 | (55 | ) | 6 | — | — | — | 48,003 | (55 | ) | |||||||||||||||||||
Non-agency | — | — | — | 2 | — | 1 | 2 | — | |||||||||||||||||||||
Commercial collateralized mortgage-backed securities: | |||||||||||||||||||||||||||||
U.S. government agencies | 30,227 | (145 | ) | 2 | — | — | — | 30,227 | (145 | ) | |||||||||||||||||||
Corporate debt securities | 24,846 | (127 | ) | 8 | 44,234 | (17,254 | ) | 8 | 69,080 | (17,381 | ) | ||||||||||||||||||
Total temporarily impaired securities | $ | 148,345 | $ | (506 | ) | 26 | $ | 44,385 | $ | (17,256 | ) | 10 | $ | 192,730 | $ | (17,762 | ) |
September 30, 2011 | |||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||
Fair Value | Unrealized Losses | Number of Impaired Securities | Fair Value | Unrealized Losses | Number of Impaired Securities | Fair Value | Unrealized Losses | ||||||||||||||||||||||
Debt Securities | |||||||||||||||||||||||||||||
U.S. government agency debentures | $ | 15,032 | $ | (20 | ) | 1 | $ | — | $ | — | — | $ | 15,032 | $ | (20 | ) | |||||||||||||
U.S. States and political subdivisions | 16,180 | (102 | ) | 18 | 648 | (23 | ) | 1 | 16,828 | (125 | ) | ||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||
U.S. government agencies | — | — | — | 174 | (2 | ) | 2 | 174 | (2 | ) | |||||||||||||||||||
Residential collateralized mortgage-backed securities: | |||||||||||||||||||||||||||||
U.S. government agencies | 21,505 | (45 | ) | 3 | — | — | — | 21,505 | (45 | ) | |||||||||||||||||||
Corporate debt securities | — | — | — | 46,187 | (15,287 | ) | 8 | 46,187 | (15,287 | ) | |||||||||||||||||||
Total temporarily impaired securities | $ | 52,717 | $ | (167 | ) | 22 | $ | 47,009 | $ | (15,312 | ) | 11 | $ | 99,726 | $ | (15,479 | ) |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Proceeds | $ | 29,735 | $ | 179,133 | $ | 190,813 | $ | 182,781 | |||||||
Realized gains | 553 | 4,473 | 1,361 | 5,418 | |||||||||||
Realized losses | — | (71 | ) | — | (127 | ) | |||||||||
Net securities gains | $ | 553 | $ | 4,402 | $ | 1,361 | $ | 5,291 |
U.S. Government agency debentures | U.S. States and political subdivisions obligations | Residential mortgage-backed securities - U.S govt. agency obligations | Commercial mortgage-backed securities - U.S govt. agency obligations | Residential collateralized mortgage obligations - U.S. govt. agency obligations | Residential collateralized mortgage obligations - non - U.S. govt. agency issued | Commercial collateralized mortgage obligations - U.S. govt. agency obligations | Corporate debt securities | Total | Weighted Average Yield | |||||||||||||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||||||||||||||||||||
Remaining maturity: | ||||||||||||||||||||||||||||||||||||||
One year or less | $ | 35,137 | $ | 7,322 | $ | 4,032 | $ | 5,073 | $ | 62,769 | $ | — | $ | — | $ | — | $ | 114,333 | 2.68 | % | ||||||||||||||||||
Over one year through five years | — | 27,234 | 1,265,886 | — | 1,111,218 | 12 | 63,358 | — | 2,467,708 | 2.55 | % | |||||||||||||||||||||||||||
Over five years through ten years | — | 177,836 | 7,913 | 10,594 | 31,538 | — | 5,307 | — | 233,188 | 4.74 | % | |||||||||||||||||||||||||||
Over ten years | — | 46,026 | — | — | — | — | — | 47,493 | 93,519 | 2.74 | % | |||||||||||||||||||||||||||
Fair Value | $ | 35,137 | $ | 258,418 | $ | 1,277,831 | $ | 15,667 | $ | 1,205,525 | $ | 12 | $ | 68,665 | $ | 47,493 | $ | 2,908,748 | 2.74 | % | ||||||||||||||||||
Amortized Cost | $ | 35,109 | $ | 241,436 | $ | 1,216,671 | $ | 15,434 | $ | 1,188,072 | $ | 12 | $ | 66,316 | $ | 61,527 | $ | 2,824,577 | ||||||||||||||||||||
Weighted-Average Yield | 0.73 | % | 5.37 | % | 2.98 | % | 1.75 | % | 2.14 | % | 3.81 | % | 2.13 | % | 1.09 | % | 2.74 | % | ||||||||||||||||||||
Weighted-Average Maturity | 0.14 | 7.83 | 3.02 | 4.00 | 2.94 | 1.92 | 4.35 | 15.06 | 3.66 | |||||||||||||||||||||||||||||
Securities Held to Maturity | ||||||||||||||||||||||||||||||||||||||
Remaining maturity: | ||||||||||||||||||||||||||||||||||||||
One year or less | $ | — | $ | 45,126 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 45,126 | 1.61 | % | ||||||||||||||||||
Over one year through five years | — | 15,116 | — | — | 129,661 | — | 21,160 | 33,529 | 199,466 | 2.17 | % | |||||||||||||||||||||||||||
Over five years through ten years | — | 30,309 | — | 33,941 | — | — | 78,855 | 65,071 | 208,176 | 2.81 | % | |||||||||||||||||||||||||||
Over ten years | — | 178,469 | — | — | — | — | — | — | 178,469 | 5.14 | % | |||||||||||||||||||||||||||
Fair Value | $ | — | $ | 269,020 | $ | — | $ | 33,941 | $ | 129,661 | $ | — | $ | 100,015 | $ | 98,600 | $ | 631,237 | 3.18 | % | ||||||||||||||||||
Amortized Cost | $ | — | $ | 262,091 | $ | — | $ | 33,149 | $ | 129,265 | $ | — | $ | 98,961 | $ | 97,165 | $ | 620,631 | ||||||||||||||||||||
Weighted-Average Yield | — | % | 5.10 | % | — | % | 1.42 | % | 1.89 | % | — | % | 2.91 | % | 2.23 | % | 3.18 | % | ||||||||||||||||||||
Weighted-Average Maturity | — | 13.48 | — | 6.03 | 2.70 | — | 6.86 | 5.29 | 7.35 |
September 30, 2012 | December 31, 2011 | September 30, 2011 | |||||||||
Commercial | $ | 5,511,678 | $ | 5,107,747 | $ | 5,018,857 | |||||
Residential mortgage | 439,062 | 413,664 | 397,309 | ||||||||
Installment | 1,321,081 | 1,263,665 | 1,271,327 | ||||||||
Home equity | 789,743 | 743,982 | 743,377 | ||||||||
Credit card | 143,918 | 146,356 | 142,710 | ||||||||
Leases | 110,938 | 73,530 | 57,992 | ||||||||
Total noncovered loans (a) | 8,316,420 | 7,748,944 | 7,631,572 | ||||||||
Allowance for noncovered loan losses | (98,942 | ) | (107,699 | ) | (109,187 | ) | |||||
Net noncovered loans | 8,217,478 | 7,641,245 | 7,522,385 | ||||||||
Covered loans (b) | 1,174,929 | 1,497,140 | 1,647,218 | ||||||||
Allowance for covered loan losses | (43,644 | ) | (36,417 | ) | (34,603 | ) | |||||
Net covered loans | 1,131,285 | 1,460,723 | 1,612,615 | ||||||||
Net loans | $ | 9,348,763 | $ | 9,101,968 | $ | 9,135,000 |
(a) | Includes acquired, noncovered loans of $56.0 million, $113.2 million and $178.0 million as of September 30, 2012, December 31, 2011 and September 30, 2011, respectively. |
(b) | Includes loss share receivable of $131.9 million, $205.7 million and $220.5 million as of September 30, 2012, December 31, 2011 and September 30, 2011, respectively. |
Three Months Ended | Nine Months Ended | ||||||||||||||
September 30, 2012 | September 30, 2011 | September 30, 2012 | September 30, 2011 | ||||||||||||
Balance at beginning of period | $ | 152,615 | $ | 239,424 | $ | 205,664 | $ | 288,605 | |||||||
Accretion | (8,401 | ) | (9,322 | ) | (26,935 | ) | (30,821 | ) | |||||||
Increase due to impairment | 1,484 | 8,224 | 12,601 | 31,077 | |||||||||||
FDIC reimbursement | (12,597 | ) | (14,493 | ) | (50,678 | ) | (62,895 | ) | |||||||
Covered loans paid in full | (1,229 | ) | (3,362 | ) | (8,780 | ) | (5,495 | ) | |||||||
Balance at end of the period | $ | 131,872 | $ | 220,471 | $ | 131,872 | $ | 220,471 | |||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||
September 30, 2012 | September 30, 2011 | September 30, 2012 | September 30, 2011 | ||||||||||||||||||||||||||||
Accretable Yield | Carrying Amount | Accretable Yield | Carrying Amount | Accretable Yield | Carrying Amount | Accretable Yield | Carrying Amount | ||||||||||||||||||||||||
Balance at beginning of period | $ | 147,576 | $ | 964,314 | $ | 196,525 | $ | 1,337,921 | $ | 176,736 | $ | 1,128,978 | $ | 227,652 | $ | 1,512,817 | |||||||||||||||
Accretion | (23,631 | ) | 23,631 | (31,120 | ) | 31,120 | (75,478 | ) | 75,478 | (101,244 | ) | 101,244 | |||||||||||||||||||
Net Reclassifications from non-accretable to accretable | 6,008 | — | 27,160 | — | 30,814 | — | 67,118 | — | |||||||||||||||||||||||
Payments received, net | — | (96,593 | ) | — | (114,500 | ) | — | (313,104 | ) | — | (359,520 | ) | |||||||||||||||||||
Disposals | (1,929 | ) | — | (1,057 | ) | — | (4,048 | ) | — | (2,018 | ) | — | |||||||||||||||||||
Balance at end of period | $ | 128,024 | $ | 891,352 | $ | 191,508 | $ | 1,254,541 | $ | 128,024 | $ | 891,352 | $ | 191,508 | $ | 1,254,541 |
September 30, 2012 | September 30, 2011 | ||||||
Contractual required payments receivable | $ | 1,333,127 | $ | 1,742,815 | |||
Nonaccretable difference | (313,751 | ) | (296,766 | ) | |||
Expected cash flows | 1,019,376 | 1,446,049 | |||||
Accretable yield | (128,024 | ) | (191,508 | ) | |||
Carrying balance | $ | 891,352 | $ | 1,254,541 | |||
As of September 30, 2012 | |||||||||||||||||||||||||||||||
Legacy Loans | ≥ 90 Days Past Due and Accruing (a) | ||||||||||||||||||||||||||||||
Days Past Due | Total Past Due | Current | Total Loans | Nonaccrual Loans (b) | |||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||
C&I | $ | 8,781 | $ | 2,795 | $ | 1,469 | $ | 13,045 | $ | 3,033,770 | $ | 3,046,815 | $ | 57 | $ | 9,926 | |||||||||||||||
CRE | 3,197 | 3,856 | 14,311 | 21,364 | 2,099,760 | 2,121,124 | 1,862 | 17,812 | |||||||||||||||||||||||
Construction | 116 | — | 853 | 969 | 308,136 | 309,105 | — | 923 | |||||||||||||||||||||||
Leases | 7 | — | — | 7 | 110,931 | 110,938 | — | — | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||
Installment | 8,884 | 3,430 | 4,834 | 17,148 | 1,301,995 | 1,319,143 | 4,439 | 3,267 | |||||||||||||||||||||||
Home Equity Lines | 1,784 | 463 | 1,311 | 3,558 | 768,013 | 771,571 | 409 | 1,858 | |||||||||||||||||||||||
Credit Cards | 991 | 556 | 808 | 2,355 | 141,563 | 143,918 | 393 | 525 | |||||||||||||||||||||||
Residential Mortgages | 14,364 | 2,777 | 6,233 | 23,374 | 414,438 | 437,812 | 2,399 | 13,169 | |||||||||||||||||||||||
Total | $ | 38,124 | $ | 13,877 | $ | 29,819 | $ | 81,820 | $ | 8,178,606 | $ | 8,260,426 | $ | 9,559 | $ | 47,480 |
Acquired Loans (Noncovered) | |||||||||||||||||||||||||||||||
Days Past Due | Total Past Due | Current | Total Loans | ≥ 90 Days Past Due and Accruing | Nonaccrual Loans | ||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||
C&I | $ | — | $ | — | $ | 50 | $ | 50 | $ | 2,366 | $ | 2,416 | $ | — | $ | 69 | |||||||||||||||
CRE | — | — | 2,565 | 2,565 | 29,653 | 32,218 | — | 2,762 | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||
Installment | 50 | — | — | 50 | 1,888 | 1,938 | — | — | |||||||||||||||||||||||
Home Equity Lines | 56 | 9 | 100 | 165 | 18,007 | 18,172 | 132 | — | |||||||||||||||||||||||
Residential Mortgages | 63 | — | — | 63 | 1,187 | 1,250 | — | — | |||||||||||||||||||||||
Total | $ | 169 | $ | 9 | $ | 2,715 | $ | 2,893 | $ | 53,101 | $ | 55,994 | $ | 132 | $ | 2,831 |
Covered Loans (c) | ≥ 90 Days Past Due and Accruing (d) | ||||||||||||||||||||||||||
Days Past Due | Total Past Due | Current | Total Loans | Nonaccrual Loans (d) | |||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||
C&I | $ | 2,962 | $ | 973 | $ | 27,035 | $ | 30,970 | $ | 131,721 | $ | 162,691 | n/a | n/a | |||||||||||||
CRE | 4,965 | 21,919 | 184,067 | 210,951 | 412,323 | 623,274 | n/a | n/a | |||||||||||||||||||
Construction | — | 998 | 41,325 | 42,323 | 19,453 | 61,776 | n/a | n/a | |||||||||||||||||||
Consumer | |||||||||||||||||||||||||||
Installment | 2,289 | — | 35 | 2,324 | 6,036 | 8,360 | n/a | n/a | |||||||||||||||||||
Home Equity Lines | 1,398 | 435 | 1,981 | 3,814 | 119,364 | 123,178 | n/a | n/a | |||||||||||||||||||
Residential Mortgages | 10,382 | 1,248 | 8,576 | 20,206 | 43,573 | 63,779 | n/a | n/a | |||||||||||||||||||
Total | $ | 21,996 | $ | 25,573 | $ | 263,019 | $ | 310,588 | $ | 732,470 | $ | 1,043,058 | n/a | n/a |
(a) | Installment loans 90 days or more past due and accruing include $3.1 million of loans guaranteed by the U.S. government as of September 30, 2012. |
(b) | Nonaccrual loans at September 30, 2012 include $10.6 million of loans resulting from consumer loans classified as troubled debt restructurings where the borrower's obligation to the Corporation has been restructured in bankruptcy. |
(c) | Excludes loss share receivable of $131.9 million as of September 30, 2012. |
(d) | Acquired impaired loans were not classified as nonperforming assets at September 30, 2012 as the loans are considered to be performing under ASC 310-30. As a result interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired impaired loans. These asset quality disclosures are, therefore, not applicable to acquired impaired loans. |
As of December 31, 2011 | |||||||||||||||||||||||||||||||
Legacy Loans | Total Past Due | Current | Total Loans | ≥ 90 Days Past Due and Accruing (a) | Nonaccrual Loans | ||||||||||||||||||||||||||
Days Past Due | |||||||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||
C&I | $ | 1,521 | $ | 940 | $ | 5,490 | $ | 7,951 | $ | 2,740,751 | $ | 2,748,702 | $ | 465 | $ | 9,266 | |||||||||||||||
CRE | 6,187 | 4,819 | 29,976 | 40,982 | 1,951,211 | 1,992,193 | 984 | 36,025 | |||||||||||||||||||||||
Construction | 39 | — | 7,837 | 7,876 | 269,459 | 277,335 | 609 | 7,575 | |||||||||||||||||||||||
Leases | — | — | — | — | 73,530 | 73,530 | — | — | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||
Installment | 11,531 | 3,388 | 5,167 | 20,086 | 1,241,059 | 1,261,145 | 4,864 | 624 | |||||||||||||||||||||||
Home Equity Lines | 2,627 | 778 | 1,241 | 4,646 | 720,045 | 724,691 | 796 | 1,102 | |||||||||||||||||||||||
Credit Cards | 1,090 | 707 | 1,019 | 2,816 | 143,540 | 146,356 | 403 | 622 | |||||||||||||||||||||||
Residential Mortgages | 11,778 | 2,059 | 9,719 | 23,556 | 388,268 | 411,824 | 3,252 | 6,468 | |||||||||||||||||||||||
Total | $ | 34,773 | $ | 12,691 | $ | 60,449 | $ | 107,913 | $ | 7,527,863 | $ | 7,635,776 | $ | 11,373 | $ | 61,682 |
Acquired Loans (Noncovered) | Total Past Due | Current | Total Loans | ≥ 90 Days Past Due and Accruing | Nonaccrual Loans | ||||||||||||||||||||||||||
Days Past Due | |||||||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||
C&I | $ | — | $ | — | $ | 66 | $ | 66 | $ | 26,708 | $ | 26,774 | $ | — | $ | 69 | |||||||||||||||
CRE | — | 452 | 1,675 | 2,127 | 60,616 | 62,743 | — | 2,880 | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||
Installment | — | — | 1 | 1 | 2,519 | 2,520 | 1 | — | |||||||||||||||||||||||
Home Equity Lines | 67 | — | 1 | 68 | 19,223 | 19,291 | 2 | — | |||||||||||||||||||||||
Residential Mortgages | — | — | — | — | 1,840 | 1,840 | — | — | |||||||||||||||||||||||
Total | $ | 67 | $ | 452 | $ | 1,743 | $ | 2,262 | $ | 110,906 | $ | 113,168 | $ | 3 | $ | 2,949 |
Covered Loans (b) | Total Past Due | Current | Total Loans | ≥ 90 Days Past Due and Accruing (c) | Nonaccrual Loans (c) | ||||||||||||||||||||||
Days Past Due | |||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||
C&I | $ | 7,451 | $ | 2,137 | $ | 25,801 | $ | 35,389 | $ | 162,150 | $ | 197,539 | n/a | n/a | |||||||||||||
CRE | 20,379 | 12,895 | 170,795 | 204,069 | 573,779 | 777,848 | n/a | n/a | |||||||||||||||||||
Construction | 4,206 | 1,674 | 57,978 | 63,858 | 26,051 | 89,909 | n/a | n/a | |||||||||||||||||||
Consumer | |||||||||||||||||||||||||||
Installment | 24 | 25 | 60 | 109 | 10,013 | 10,122 | n/a | n/a | |||||||||||||||||||
Home Equity Lines | 2,656 | 1,094 | 1,088 | 4,838 | 136,710 | 141,548 | n/a | n/a | |||||||||||||||||||
Residential Mortgages | 14,106 | 164 | 14,254 | 28,524 | 45,986 | 74,510 | n/a | n/a | |||||||||||||||||||
Total | $ | 48,822 | $ | 17,989 | $ | 269,976 | $ | 336,787 | $ | 954,689 | $ | 1,291,476 | n/a | n/a |
(a) | Installment loans 90 days or more past due and accruing include $3.0 million of loans guaranteed by the U.S. government as of December 31, 2011. |
(b) | Excludes loss share receivable of $205.7 million as of December 31, 2011. |
(c) | Acquired impaired loans were not classified as nonperforming assets at December 31, 2011 as the loans are considered to be performing under ASC 310-30. As a result interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired impaired loans. These asset quality disclosures are, therefore, not applicable to acquired impaired loans. |
As of September 30, 2011 | |||||||||||||||||||||||||||||||
Legacy Loans | ≥ 90 Days Past Due and Accruing | ||||||||||||||||||||||||||||||
Days Past Due | Total Past Due | Current | Total Loans | Nonaccrual Loans | |||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||
C&I | $ | 12,639 | $ | 6,255 | $ | 5,361 | $ | 24,255 | $ | 2,633,735 | $ | 2,657,990 | $ | 123 | $ | 6,096 | |||||||||||||||
CRE | 5,145 | 11,030 | 33,003 | 49,178 | 1,907,048 | 1,956,226 | — | 39,560 | |||||||||||||||||||||||
Construction | 779 | 1,719 | 8,943 | 11,441 | 241,137 | 252,578 | — | 10,580 | |||||||||||||||||||||||
Leases | — | — | — | — | 57,992 | 57,992 | — | — | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||
Installment | 9,090 | 4,225 | 5,052 | 18,367 | 1,249,676 | 1,268,043 | 1,125 | 438 | |||||||||||||||||||||||
Home Equity Lines | 2,474 | 731 | 922 | 4,127 | 718,494 | 722,621 | 922 | 753 | |||||||||||||||||||||||
Credit Cards | 1,222 | 701 | 771 | 2,694 | 140,016 | 142,710 | 357 | 614 | |||||||||||||||||||||||
Residential Mortgages | 9,687 | 2,412 | 7,648 | 19,747 | 375,706 | 395,453 | 1,481 | 6,166 | |||||||||||||||||||||||
Total | $ | 41,036 | $ | 27,073 | $ | 61,700 | $ | 129,809 | $ | 7,323,804 | $ | 7,453,613 | $ | 4,008 | $ | 64,207 |
Acquired Loans (Noncovered) | ≥ 90 Days Past Due and Accruing | ||||||||||||||||||||||||||||||
Days Past Due | Total Past Due | Current | Total Loans | Nonaccrual Loans | |||||||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||
C&I | $ | 448 | $ | — | $ | 138 | $ | 586 | $ | 43,682 | $ | 44,268 | $ | — | $ | 138 | |||||||||||||||
CRE | 1,746 | 1,696 | 3,284 | 6,726 | 101,069 | 107,795 | 394 | 3,558 | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||
Installment | 1 | — | — | 1 | 3,283 | 3,284 | — | — | |||||||||||||||||||||||
Home Equity Lines | — | 37 | 1 | 38 | 20,718 | 20,756 | 1 | — | |||||||||||||||||||||||
Residential Mortgages | 78 | — | — | 78 | 1,778 | 1,856 | — | — | |||||||||||||||||||||||
Total | $ | 2,273 | $ | 1,733 | $ | 3,423 | $ | 7,429 | $ | 170,530 | $ | 177,959 | $ | 395 | $ | 3,696 |
Covered Loans (b) | ≥ 90 Days Past Due and Accruing(c) | ||||||||||||||||||||||||||
Days Past Due | Total Past Due | Current | Total Loans | Nonaccrual Loans (c) | |||||||||||||||||||||||
30-59 | 60-89 | ≥ 90 | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||
C&I | $ | 3,913 | $ | 2,108 | $ | 32,491 | $ | 38,512 | $ | 178,882 | $ | 217,394 | n/a | n/a | |||||||||||||
CRE | 17,486 | 11,963 | 198,957 | 228,406 | 649,812 | 878,218 | n/a | n/a | |||||||||||||||||||
Construction | 913 | 1,346 | 68,016 | 70,275 | 29,779 | 100,054 | n/a | n/a | |||||||||||||||||||
Consumer | |||||||||||||||||||||||||||
Installment | 505 | 136 | 42 | 683 | 10,455 | 11,138 | n/a | n/a | |||||||||||||||||||
Home Equity Lines | 500 | 896 | 979 | 2,375 | 143,757 | 146,132 | n/a | n/a | |||||||||||||||||||
Residential Mortgages | 14,807 | 1,062 | 9,364 | 25,233 | 48,578 | 73,811 | n/a | n/a | |||||||||||||||||||
Total | $ | 38,124 | $ | 17,511 | $ | 309,849 | $ | 365,484 | $ | 1,061,263 | $ | 1,426,747 | n/a | n/a |
As of September 30, 2012 | |||||||||||||||
Legacy Loans | |||||||||||||||
Commercial | |||||||||||||||
C&I | CRE | Construction | Leases | ||||||||||||
Grade 1 | $ | 37,327 | $ | — | $ | — | $ | 13,785 | |||||||
Grade 2 | 105,504 | 3,170 | — | 190 | |||||||||||
Grade 3 | 573,561 | 278,017 | 19,312 | 8,857 | |||||||||||
Grade 4 | 2,213,241 | 1,709,667 | 282,438 | 87,259 | |||||||||||
Grade 5 | 60,544 | 53,980 | 2,893 | 514 | |||||||||||
Grade 6 | 56,638 | 76,290 | 4,462 | 333 | |||||||||||
Grade 7 | — | — | — | — | |||||||||||
$ | 3,046,815 | $ | 2,121,124 | $ | 309,105 | $ | 110,938 |
Acquired Loans (Noncovered) | |||||||||||||||
Commercial | |||||||||||||||
C&I | CRE | Construction | Leases | ||||||||||||
Grade 1 | $ | — | $ | — | $ | — | $ | — | |||||||
Grade 2 | — | — | — | — | |||||||||||
Grade 3 | — | — | — | — | |||||||||||
Grade 4 | 2,095 | 28,590 | — | — | |||||||||||
Grade 5 | 259 | 675 | — | — | |||||||||||
Grade 6 | 62 | 2,953 | — | — | |||||||||||
Grade 7 | — | — | — | — | |||||||||||
$ | 2,416 | $ | 32,218 | $ | — | $ | — |
Covered Loans | |||||||||||||||
Commercial | |||||||||||||||
C&I | CRE | Construction | Leases | ||||||||||||
Grade 1 | $ | — | $ | — | $ | — | $ | — | |||||||
Grade 2 | 1,742 | — | — | — | |||||||||||
Grade 3 | 92 | 449 | — | — | |||||||||||
Grade 4 | 91,101 | 240,630 | 494 | — | |||||||||||
Grade 5 | 3,844 | 39,883 | — | — | |||||||||||
Grade 6 | 61,192 | 340,063 | 58,586 | — | |||||||||||
Grade 7 | 4,720 | 2,249 | 2,696 | — | |||||||||||
$ | 162,691 | $ | 623,274 | $ | 61,776 | $ | — |
As of December 31, 2011 | |||||||||||||||
Legacy Loans | |||||||||||||||
Commercial | |||||||||||||||
C&I | CRE | Construction | Leases | ||||||||||||
Grade 1 | $ | 37,607 | $ | — | $ | — | $ | 10,636 | |||||||
Grade 2 | 122,124 | 4,218 | 615 | — | |||||||||||
Grade 3 | 479,119 | 249,382 | 16,752 | 5,868 | |||||||||||
Grade 4 | 1,973,671 | 1,548,420 | 241,302 | 57,026 | |||||||||||
Grade 5 | 50,789 | 58,942 | 4,583 | — | |||||||||||
Grade 6 | 85,392 | 130,968 | 14,083 | — | |||||||||||
Grade 7 | — | 263 | — | — | |||||||||||
$ | 2,748,702 | $ | 1,992,193 | $ | 277,335 | $ | 73,530 |
Acquired Loans (Noncovered) | |||||||||||||||
Commercial | |||||||||||||||
C&I | CRE | Construction | Leases | ||||||||||||
Grade 1 | $ | — | $ | — | $ | — | $ | — | |||||||
Grade 2 | — | — | — | — | |||||||||||
Grade 3 | — | 1,871 | — | — | |||||||||||
Grade 4 | 26,036 | 55,129 | — | — | |||||||||||
Grade 5 | — | — | — | — | |||||||||||
Grade 6 | 738 | 5,743 | — | — | |||||||||||
Grade 7 | — | — | — | — | |||||||||||
$ | 26,774 | $ | 62,743 | $ | — | $ | — |
Covered Loans | |||||||||||||||
Commercial | |||||||||||||||
C&I | CRE | Construction | Leases | ||||||||||||
Grade 1 | $ | 948 | $ | — | $ | — | $ | — | |||||||
Grade 2 | 1,376 | — | — | — | |||||||||||
Grade 3 | — | 516 | — | — | |||||||||||
Grade 4 | 109,360 | 303,231 | 487 | — | |||||||||||
Grade 5 | 9,661 | 103,919 | 1,567 | — | |||||||||||
Grade 6 | 69,330 | 344,445 | 80,009 | — | |||||||||||
Grade 7 | 6,864 | 25,737 | 7,846 | — | |||||||||||
$ | 197,539 | $ | 777,848 | $ | 89,909 | $ | — |
As of September 30, 2011 | |||||||||||||||
Legacy Loans | |||||||||||||||
Commercial | |||||||||||||||
C&I | CRE | Construction | Leases | ||||||||||||
Grade 1 | $ | 48,173 | $ | 11,299 | $ | 1,429 | $ | — | |||||||
Grade 2 | 100,058 | 3,843 | 620 | — | |||||||||||
Grade 3 | 487,017 | 245,756 | 18,067 | 4,219 | |||||||||||
Grade 4 | 1,930,074 | 1,490,214 | 209,307 | 53,771 | |||||||||||
Grade 5 | 49,251 | 73,815 | 4,851 | — | |||||||||||
Grade 6 | 43,417 | 130,584 | 18,304 | 2 | |||||||||||
Grade 7 | — | 715 | — | — | |||||||||||
$ | 2,657,990 | $ | 1,956,226 | $ | 252,578 | $ | 57,992 |
Acquired Loans (Noncovered) | |||||||||||||||
Commercial | |||||||||||||||
C&I | CRE | Construction | Leases | ||||||||||||
Grade 1 | $ | — | $ | — | $ | — | $ | — | |||||||
Grade 2 | — | — | — | — | |||||||||||
Grade 3 | 3 | 1,968 | — | — | |||||||||||
Grade 4 | 43,250 | 98,668 | — | — | |||||||||||
Grade 5 | 160 | — | — | — | |||||||||||
Grade 6 | 855 | 6,491 | — | — | |||||||||||
Grade 7 | — | 668 | — | — | |||||||||||
$ | 44,268 | $ | 107,795 | $ | — | $ | — |
Covered Loans | |||||||||||||||
Commercial | |||||||||||||||
C&I | CRE | Construction | Leases | ||||||||||||
Grade 1 | $ | 915 | $ | — | $ | — | $ | — | |||||||
Grade 2 | 1,801 | — | — | — | |||||||||||
Grade 3 | — | 538 | — | — | |||||||||||
Grade 4 | 101,794 | 343,697 | 4,207 | — | |||||||||||
Grade 5 | 32,094 | 154,591 | 1,992 | — | |||||||||||
Grade 6 | 78,153 | 348,152 | 83,051 | — | |||||||||||
Grade 7 | 2,637 | 31,240 | 10,804 | — | |||||||||||
$ | 217,394 | $ | 878,218 | $ | 100,054 | $ | — |
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | |||||||||||||||||||||||||||
Allowance for loan losses, beginning balance | $ | 32,363 | $ | 31,857 | $ | 5,173 | $ | 341 | $ | 17,981 | $ | 6,766 | $ | 7,369 | $ | 5,849 | $ | 107,699 | |||||||||||||||||
Charge-offs | (19,906 | ) | (3,496 | ) | (165 | ) | — | (14,441 | ) | (7,373 | ) | (4,618 | ) | (3,431 | ) | (53,430 | ) | ||||||||||||||||||
Recoveries | 3,120 | 825 | 364 | 38 | 9,104 | 2,588 | 1,583 | 191 | 17,813 | ||||||||||||||||||||||||||
Provision for noncovered loan losses | 23,582 | (4,008 | ) | (568 | ) | 127 | (809 | ) | 2,904 | 2,901 | 2,731 | 26,860 | |||||||||||||||||||||||
Allowance for loan losses, ending balance | $ | 39,159 | $ | 25,178 | $ | 4,804 | $ | 506 | $ | 11,835 | $ | 4,885 | $ | 7,235 | $ | 5,340 | $ | 98,942 |
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | |||||||||||||||||||||||||||
Allowance for loan losses, beginning balance | $ | 40,327 | $ | 27,186 | $ | 5,147 | $ | 358 | $ | 13,029 | $ | 5,449 | $ | 6,690 | $ | 5,663 | $ | 103,849 | |||||||||||||||||
Charge-offs | (8,773 | ) | (727 | ) | (127 | ) | — | (5,507 | ) | (2,784 | ) | (1,390 | ) | (1,691 | ) | (20,999 | ) | ||||||||||||||||||
Recoveries | 1,408 | 180 | 61 | — | 2,883 | 1,007 | 488 | 100 | 6,127 | ||||||||||||||||||||||||||
Provision for noncovered loan losses | 6,197 | (1,461 | ) | (277 | ) | 148 | 1,430 | 1,213 | 1,447 | 1,268 | 9,965 | ||||||||||||||||||||||||
Allowance for loan losses, ending balance | $ | 39,159 | $ | 25,178 | $ | 4,804 | $ | 506 | $ | 11,835 | $ | 4,885 | $ | 7,235 | $ | 5,340 | $ | 98,942 | |||||||||||||||||
Nine Months Ended September 30, 2011 | |||||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | |||||||||||||||||||||||||||
Allowance for loan losses, beginning balance | $ | 29,764 | $ | 32,026 | $ | 7,180 | $ | 475 | $ | 21,555 | $ | 7,217 | $ | 11,107 | $ | 5,366 | $ | 114,690 | |||||||||||||||||
Charge-offs | (13,517 | ) | (7,763 | ) | (3,245 | ) | (778 | ) | (20,204 | ) | (8,356 | ) | (6,135 | ) | (3,786 | ) | (63,784 | ) | |||||||||||||||||
Recoveries | 1,254 | 54 | 545 | 35 | 10,812 | 1,840 | 1,789 | 192 | 16,521 | ||||||||||||||||||||||||||
Provision for noncovered loan losses | 12,837 | 8,984 | 2,335 | 593 | 6,160 | 5,542 | 1,235 | 4,074 | 41,760 | ||||||||||||||||||||||||||
Allowance for loan losses, ending balance | $ | 30,338 | $ | 33,301 | $ | 6,815 | $ | 325 | $ | 18,323 | $ | 6,243 | $ | 7,996 | $ | 5,846 | $ | 109,187 | |||||||||||||||||
Three Months Ended September 30, 2011 | |||||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | |||||||||||||||||||||||||||
Allowance for loan losses, beginning balance | $ | 28,366 | $ | 32,946 | $ | 7,876 | $ | 353 | $ | 18,089 | $ | 7,142 | $ | 8,403 | $ | 6,012 | $ | 109,187 | |||||||||||||||||
Charge-offs | (4,528 | ) | (3,304 | ) | (550 | ) | (651 | ) | (5,911 | ) | (2,779 | ) | (1,520 | ) | (771 | ) | (20,014 | ) | |||||||||||||||||
Recoveries | 540 | 6 | 171 | 1 | 3,375 | 658 | 585 | 74 | 5,410 | ||||||||||||||||||||||||||
Provision for noncovered loan losses | 5,960 | 3,653 | (682 | ) | 622 | 2,770 | 1,222 | 528 | 531 | 14,604 | |||||||||||||||||||||||||
Allowance for loan losses, ending balance | $ | 30,338 | $ | 33,301 | $ | 6,815 | $ | 325 | $ | 18,323 | $ | 6,243 | $ | 7,996 | $ | 5,846 | $ | 109,187 | |||||||||||||||||
As of September 30, 2012 | |||||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | |||||||||||||||||||||||||||
Ending allowance for noncovered loan losses balance attributable to loans: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 2,900 | $ | 1,953 | $ | 117 | $ | — | $ | 1,674 | $ | 95 | $ | 106 | $ | 1,599 | $ | 8,444 | |||||||||||||||||
Collectively evaluated for impairment | 36,259 | 23,225 | 4,687 | 506 | 10,161 | 4,790 | 7,129 | 3,741 | 90,498 | ||||||||||||||||||||||||||
Total ending allowance for noncovered loan losses balance | $ | 39,159 | $ | 25,178 | $ | 4,804 | $ | 506 | $ | 11,835 | $ | 4,885 | $ | 7,235 | $ | 5,340 | $ | 98,942 | |||||||||||||||||
Noncovered loans: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 9,994 | $ | 28,972 | $ | 3,577 | $ | — | $ | 32,577 | $ | 6,922 | $ | 1,767 | $ | 24,569 | $ | 108,378 | |||||||||||||||||
Collectively evaluated for impairment | 3,039,235 | 2,124,370 | 305,528 | 110,938 | 1,288,505 | 782,820 | 142,152 | 414,494 | 8,208,042 | ||||||||||||||||||||||||||
Total ending noncovered loan balance | $ | 3,049,229 | $ | 2,153,342 | $ | 309,105 | $ | 110,938 | $ | 1,321,082 | $ | 789,742 | $ | 143,919 | $ | 439,063 | $ | 8,316,420 | |||||||||||||||||
As of December 31, 2011 | |||||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | |||||||||||||||||||||||||||
Ending allowance for noncovered loan losses balance attributable to loans: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 2,497 | $ | 1,599 | $ | 99 | $ | — | $ | 1,382 | $ | 31 | $ | 108 | $ | 1,364 | $ | 7,080 | |||||||||||||||||
Collectively evaluated for impairment | 29,866 | 30,258 | 5,074 | 341 | 16,599 | 6,735 | 7,261 | 4,485 | 100,619 | ||||||||||||||||||||||||||
Total ending allowance for noncovered loan losses balance | $ | 32,363 | $ | 31,857 | $ | 5,173 | $ | 341 | $ | 17,981 | $ | 6,766 | $ | 7,369 | $ | 5,849 | $ | 107,699 | |||||||||||||||||
Noncovered loans: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 8,269 | $ | 36,087 | $ | 9,320 | $ | — | $ | 33,571 | $ | 4,763 | $ | 2,202 | $ | 17,398 | $ | 111,610 | |||||||||||||||||
Collectively evaluated for impairment | 2,767,207 | 2,018,849 | 268,015 | 73,530 | 1,230,094 | 739,219 | 144,154 | 396,266 | 7,637,334 | ||||||||||||||||||||||||||
Total ending noncovered loan balance | $ | 2,775,476 | $ | 2,054,936 | $ | 277,335 | $ | 73,530 | $ | 1,263,665 | $ | 743,982 | $ | 146,356 | $ | 413,664 | $ | 7,748,944 |
As of September 30, 2011 | |||||||||||||||||||||||||||||||||||
C&I | CRE | Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | |||||||||||||||||||||||||||
Ending allowance for noncovered loan losses balance attributable to loans: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 256 | $ | 2,064 | $ | 1,264 | $ | — | $ | 1,568 | $ | 52 | $ | 121 | $ | 1,346 | $ | 6,671 | |||||||||||||||||
Collectively evaluated for impairment | 30,082 | 31,237 | 5,551 | 325 | 16,755 | 6,191 | 7,875 | 4,500 | 102,516 | ||||||||||||||||||||||||||
Total ending allowance for noncovered loan losses balance | $ | 30,338 | $ | 33,301 | $ | 6,815 | $ | 325 | $ | 18,323 | $ | 6,243 | $ | 7,996 | $ | 5,846 | $ | 109,187 | |||||||||||||||||
Noncovered loans: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 4,271 | $ | 39,288 | $ | 11,789 | $ | — | $ | 34,654 | $ | 4,413 | $ | 2,356 | $ | 16,316 | $ | 113,087 | |||||||||||||||||
Collectively evaluated for impairment | 2,697,987 | 2,024,734 | 240,788 | 57,992 | 1,236,673 | 738,964 | 140,354 | 380,993 | 7,518,485 | ||||||||||||||||||||||||||
Total ending noncovered loan balance | $ | 2,702,258 | $ | 2,064,022 | $ | 252,577 | $ | 57,992 | $ | 1,271,327 | $ | 743,377 | $ | 142,710 | $ | 397,309 | $ | 7,631,572 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Balance at beginning of the period | $ | 42,606 | $ | 33,360 | $ | 36,417 | $ | 13,733 | |||||||
Provision for loan losses before benefit attributable to FDIC loss share agreements | 7,698 | 12,992 | 28,177 | 48,657 | |||||||||||
Benefit attributable to FDIC loss share agreements | (1,484 | ) | (8,224 | ) | (12,601 | ) | (31,077 | ) | |||||||
Net provision for covered loan losses | 6,214 | 4,768 | 15,576 | 17,580 | |||||||||||
Increase in indemnification asset | 1,484 | 8,224 | 12,601 | 31,077 | |||||||||||
Loans charged-off | (6,660 | ) | (11,749 | ) | (20,950 | ) | (27,787 | ) | |||||||
Balance at end of the period | $ | 43,644 | $ | 34,603 | $ | 43,644 | $ | 34,603 |
As of September 30, 2012 | |||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | ||||||||||||
Impaired loans with no related allowance | |||||||||||||||
Commercial | |||||||||||||||
C&I | $ | 1,443 | $ | 10,154 | $ | — | $ | 9,903 | |||||||
CRE | 16,910 | 22,337 | — | 19,217 | |||||||||||
Construction | 3,370 | 3,944 | — | 4,080 | |||||||||||
Consumer | |||||||||||||||
Installment | 2,902 | 4,739 | — | 4,888 | |||||||||||
Home equity line | 959 | 1,239 | — | 1,237 | |||||||||||
Credit card | 4 | 4 | — | 4 | |||||||||||
Residential mortgages | 10,693 | 12,838 | — | 11,542 | |||||||||||
Subtotal | $ | 36,281 | $ | 55,255 | $ | — | $ | 50,871 | |||||||
Impaired loans with a related allowance | |||||||||||||||
Commercial | |||||||||||||||
C&I | 8,551 | 12,555 | 2,900 | 10,163 | |||||||||||
CRE | 11,543 | 14,113 | 1,953 | 10,559 | |||||||||||
Construction | 726 | 726 | 117 | 733 | |||||||||||
Consumer | |||||||||||||||
Installment | 29,675 | 29,675 | 1,674 | 30,361 | |||||||||||
Home equity line | 5,963 | 5,963 | 95 | 6,206 | |||||||||||
Credit card | 1,763 | 1,763 | 106 | 1,975 | |||||||||||
Residential mortgages | 13,876 | 13,967 | 1,599 | 13,946 | |||||||||||
Subtotal | 72,097 | 78,762 | 8,444 | 73,943 | |||||||||||
Total impaired loans | $ | 108,378 | $ | 134,017 | $ | 8,444 | $ | 124,814 |
As of December 31, 2011 | |||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | ||||||||||||
Impaired loans with no related allowance | |||||||||||||||
Commercial | |||||||||||||||
C&I | $ | 6,999 | $ | 9,121 | $ | — | $ | 8,442 | |||||||
CRE | 29,566 | 46,744 | — | 37,720 | |||||||||||
Construction | 7,522 | 13,675 | — | 9,908 | |||||||||||
Consumer | |||||||||||||||
Installment | — | — | — | — | |||||||||||
Home equity line | — | — | — | — | |||||||||||
Credit card | — | — | — | — | |||||||||||
Residential mortgages | 4,244 | 5,746 | — | 4,450 | |||||||||||
Subtotal | 48,331 | 75,286 | — | 60,520 | |||||||||||
Impaired loans with a related allowance | |||||||||||||||
Commercial | |||||||||||||||
C&I | 1,270 | 1,769 | 2,497 | 752 | |||||||||||
CRE | 6,521 | 6,789 | 1,599 | 3,247 | |||||||||||
Construction | 1,798 | 2,864 | 99 | 1,929 | |||||||||||
Consumer | |||||||||||||||
Installment | 33,571 | 33,723 | 1,382 | 33,742 | |||||||||||
Home equity line | 4,763 | 4,763 | 31 | 4,996 | |||||||||||
Credit card | 2,202 | 2,202 | 108 | 2,497 | |||||||||||
Residential mortgages | 13,154 | 13,167 | 1,364 | 13,155 | |||||||||||
Subtotal | 63,279 | 65,277 | 7,080 | 60,318 | |||||||||||
Total impaired loans | $ | 111,610 | $ | 140,563 | $ | 7,080 | $ | 120,838 |
As of September 30, 2011 | |||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | ||||||||||||
Impaired loans with no related allowance | |||||||||||||||
Commercial | |||||||||||||||
C&I | $ | 843 | $ | 1,831 | $ | — | $ | 1,613 | |||||||
CRE | 28,728 | 40,092 | — | 34,838 | |||||||||||
Construction | 5,883 | 8,657 | — | 6,850 | |||||||||||
Consumer | |||||||||||||||
Installment | — | — | — | — | |||||||||||
Home equity line | — | — | — | — | |||||||||||
Credit card | — | — | — | — | |||||||||||
Residential mortgages | 2,872 | 4,229 | — | 2,999 | |||||||||||
Subtotal | $ | 38,326 | $ | 54,809 | $ | — | $ | 46,300 | |||||||
Impaired loans with a related allowance | |||||||||||||||
Commercial | |||||||||||||||
C&I | 3,428 | 4,725 | 256 | 4,053 | |||||||||||
CRE | 10,560 | 15,444 | 2,064 | 12,286 | |||||||||||
Construction | 5,906 | 8,840 | 1,264 | 6,386 | |||||||||||
Consumer | |||||||||||||||
Installment | 34,654 | 34,703 | 1,568 | 34,485 | |||||||||||
Home equity line | 4,413 | 4,412 | 52 | 4,581 | |||||||||||
Credit card | 2,359 | 2,359 | 121 | 2,560 | |||||||||||
Residential mortgages | 13,444 | 13,469 | 1,346 | 13,409 | |||||||||||
Subtotal | 74,764 | 83,952 | 6,671 | 77,760 | |||||||||||
Total impaired loans | $ | 113,090 | $ | 138,761 | $ | 6,671 | $ | 124,060 |
As of September 30, 2012 | |||||||||||||
Number of Loans | Recorded Investment | Unpaid Principal Balance | |||||||||||
Noncovered loans | |||||||||||||
Commercial | |||||||||||||
C&I | 22 | $ | 2,413 | $ | 8,478 | ||||||||
CRE | 36 | 17,763 | 21,307 | ||||||||||
Construction | 27 | 3,577 | 4,025 | ||||||||||
Subtotal | 85 | 23,753 | 33,810 | ||||||||||
Consumer | |||||||||||||
Installment | 1,840 | 32,577 | 34,414 | ||||||||||
Home equity lines | 229 | 6,922 | 7,202 | ||||||||||
Credit card | 426 | 1,767 | 1,767 | ||||||||||
Residential mortgages | 308 | 24,569 | 26,805 | ||||||||||
Subtotal | 2,803 | 65,835 | 70,188 | ||||||||||
Covered loans | |||||||||||||
Commercial | |||||||||||||
C&I | 11 | 5,278 | 6,216 | ||||||||||
CRE | 25 | 52,079 | 57,681 | ||||||||||
Construction | 10 | 14,640 | 42,567 | ||||||||||
Subtotal | 46 | 71,997 | 106,464 | ||||||||||
Consumer | |||||||||||||
Home equity lines | 30 | 4,742 | 4,774 | ||||||||||
Total | 2,964 | $ | 166,327 | $ | 215,236 |
As of December 31, 2011 | |||||||||||||
Number of Loans | Recorded Investment | Unpaid Principal Balance | |||||||||||
Noncovered loans | |||||||||||||
Commercial | |||||||||||||
C&I | 14 | $ | 2,512 | $ | 4,336 | ||||||||
CRE | 28 | 9,167 | 12,659 | ||||||||||
Construction | 22 | 3,323 | 3,985 | ||||||||||
Subtotal | 64 | 15,002 | 20,980 | ||||||||||
Consumer | |||||||||||||
Installment | 1,547 | 33,571 | 33,723 | ||||||||||
Home equity lines | 174 | 4,763 | 4,763 | ||||||||||
Credit card | 496 | 2,202 | 2,202 | ||||||||||
Residential mortgages | 177 | 17,398 | 18,913 | ||||||||||
Subtotal | 2,394 | 57,934 | 59,601 | ||||||||||
Covered loans | |||||||||||||
Commercial | |||||||||||||
C&I | 15 | 7,578 | 10,812 | ||||||||||
CRE | 21 | 57,786 | 62,159 | ||||||||||
Construction | 8 | 12,056 | 32,035 | ||||||||||
Subtotal | 44 | 77,420 | 105,006 | ||||||||||
Total | 2,502 | $ | 150,356 | $ | 185,587 |
As of September 30, 2011 | |||||||||||||
Number of Loans | Recorded Investment | Unpaid Principal Balance | |||||||||||
Noncovered loans | |||||||||||||
Commercial | |||||||||||||
C&I | 8 | $ | 1,096 | $ | 2,654 | ||||||||
CRE | 20 | 8,068 | 10,725 | ||||||||||
Construction | 16 | 3,443 | 3,657 | ||||||||||
Subtotal | 44 | 12,607 | 17,036 | ||||||||||
Consumer | |||||||||||||
Installment | 1,568 | 34,654 | 34,703 | ||||||||||
Home equity lines | 166 | 4,413 | 4,412 | ||||||||||
Credit card | 529 | 2,359 | 2,359 | ||||||||||
Residential mortgages | 161 | 16,316 | 17,698 | ||||||||||
Subtotal | 2,424 | 57,742 | 59,172 | ||||||||||
Covered loans | |||||||||||||
Commercial | |||||||||||||
C&I | 8 | 7,287 | 10,901 | ||||||||||
CRE | 15 | 41,403 | 45,282 | ||||||||||
Construction | 11 | 10,940 | 21,918 | ||||||||||
Subtotal | 34 | 59,630 | 78,101 | ||||||||||
Total | 2,502 | $ | 129,979 | $ | 154,309 |
As of September 30, 2012 | |||||||||||||||||||||||||||||||
Accruing TDRs | Nonaccruing TDRs | Total | Total | ||||||||||||||||||||||||||||
Current | Delinquent | Total | Current | Delinquent | Total | TDRS | Allowance | ||||||||||||||||||||||||
Noncovered loans | |||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||
C&I | $ | 955 | $ | — | $ | 955 | $ | 865 | $ | 593 | $ | 1,458 | $ | 2,413 | $ | 126 | |||||||||||||||
CRE | 11,609 | 2,464 | 14,073 | 473 | 3,217 | 3,690 | 17,763 | 401 | |||||||||||||||||||||||
Construction | 3,507 | — | 3,507 | 70 | — | 70 | 3,577 | 117 | |||||||||||||||||||||||
Total noncovered commercial | 16,071 | 2,464 | 18,535 | 1,408 | 3,810 | 5,218 | 23,753 | 644 | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||
Installment | 28,604 | 1,071 | 29,675 | 2,882 | 20 | 2,902 | 32,577 | 1,674 | |||||||||||||||||||||||
Home equity lines | 5,394 | 171 | 5,565 | 1,131 | 226 | 1,357 | 6,922 | 95 | |||||||||||||||||||||||
Credit card | 1,655 | 109 | 1,764 | — | 3 | 3 | 1,767 | 106 | |||||||||||||||||||||||
Residential mortgages | 11,386 | 3,339 | 14,725 | 6,611 | 3,233 | 9,844 | 24,569 | 1,599 | |||||||||||||||||||||||
Total noncovered consumer | 47,039 | 4,690 | 51,729 | 10,624 | 3,482 | 14,106 | 65,835 | 3,474 | |||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||
C&I | 1,000 | 4,278 | 5,278 | — | — | — | 5,278 | 1,527 | |||||||||||||||||||||||
CRE | 17,298 | 34,782 | 52,080 | — | — | — | 52,080 | 8,088 | |||||||||||||||||||||||
Construction | 6,324 | 8,315 | 14,639 | — | — | — | 14,639 | 1,632 | |||||||||||||||||||||||
Total covered commercial | 24,622 | 47,375 | 71,997 | — | — | — | 71,997 | 11,247 | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||
Home equity lines | 4,698 | 44 | 4,742 | — | — | — | 4,742 | — | |||||||||||||||||||||||
Total TDRs | $ | 92,430 | $ | 54,573 | $ | 147,003 | $ | 12,032 | $ | 7,292 | $ | 19,324 | $ | 166,327 | $ | 15,365 |
As of December 31, 2011 | |||||||||||||||||||||||||||||||
Accruing TDRs | Nonaccruing TDRs | Total | Total | ||||||||||||||||||||||||||||
Current | Delinquent | Total | Current | Delinquent | Total | TDRS | Allowance | ||||||||||||||||||||||||
Noncovered loans | |||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||
C&I | $ | 91 | $ | — | $ | 91 | $ | — | $ | 2,421 | $ | 2,421 | $ | 2,512 | $ | 247 | |||||||||||||||
CRE | 3,305 | 513 | 3,818 | 3,590 | 1,759 | 5,349 | 9,167 | 236 | |||||||||||||||||||||||
Construction | 2,782 | — | 2,782 | 304 | 237 | 541 | 3,323 | 99 | |||||||||||||||||||||||
Total noncovered commercial | 6,178 | 513 | 6,691 | 3,894 | 4,417 | 8,311 | 15,002 | 582 | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||
Installment | 31,637 | 1,800 | 33,437 | — | 134 | 134 | 33,571 | 1,382 | |||||||||||||||||||||||
Home equity lines | 4,226 | 222 | 4,448 | 76 | 239 | 315 | 4,763 | 31 | |||||||||||||||||||||||
Credit card | 2,073 | 110 | 2,183 | — | 19 | 19 | 2,202 | 108 | |||||||||||||||||||||||
Residential mortgages | 13,736 | 688 | 14,424 | 1,622 | 1,352 | 2,974 | 17,398 | 1,364 | |||||||||||||||||||||||
Total noncovered consumer | 51,672 | 2,820 | 54,492 | 1,698 | 1,744 | 3,442 | 57,934 | 2,885 | |||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||
C&I | 1,587 | 5,991 | 7,578 | — | — | — | 7,578 | 1,384 | |||||||||||||||||||||||
CRE | 35,083 | 22,703 | 57,786 | — | — | — | 57,786 | 6,567 | |||||||||||||||||||||||
Construction | 5,838 | 6,218 | 12,056 | — | — | — | 12,056 | 696 | |||||||||||||||||||||||
Total covered commercial | 42,508 | 34,912 | 77,420 | — | — | — | 77,420 | 8,647 | |||||||||||||||||||||||
Total TDRs | $ | 100,358 | $ | 38,245 | $ | 138,603 | $ | 5,592 | $ | 6,161 | $ | 11,753 | $ | 150,356 | $ | 12,114 |
As of September 30, 2011 | |||||||||||||||||||||||||||||||
Accruing TDRs | Nonaccruing TDRs | Total | Total | ||||||||||||||||||||||||||||
Current | Delinquent | Total | Current | Delinquent | Total | TDRS | Allowance | ||||||||||||||||||||||||
Noncovered loans | |||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||
C&I | $ | 129 | $ | — | $ | 129 | $ | — | $ | 967 | $ | 967 | $ | 1,096 | $ | 215 | |||||||||||||||
CRE | 4,778 | — | 4,778 | 1,215 | 2,075 | 3,290 | 8,068 | 125 | |||||||||||||||||||||||
Construction | 2,760 | — | 2,760 | 180 | 503 | 683 | 3,443 | 772 | |||||||||||||||||||||||
Total noncovered commercial | 7,667 | — | 7,667 | 1,395 | 3,545 | 4,940 | 12,607 | 1,112 | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||
Installment | 32,882 | 1,772 | 34,654 | — | — | — | 34,654 | 1,568 | |||||||||||||||||||||||
Home equity lines | 3,885 | 528 | 4,413 | — | — | — | 4,413 | 52 | |||||||||||||||||||||||
Credit card | 2,201 | 158 | 2,359 | — | — | — | 2,359 | 121 | |||||||||||||||||||||||
Residential mortgages | 12,313 | 1,570 | 13,883 | 1,485 | 948 | 2,433 | 16,316 | 1,346 | |||||||||||||||||||||||
Total noncovered consumer | 51,281 | 4,028 | 55,309 | 1,485 | 948 | 2,433 | 57,742 | 3,087 | |||||||||||||||||||||||
Covered loans | |||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||
C&I | 6,052 | 1,235 | 7,287 | — | — | — | 7,287 | 746 | |||||||||||||||||||||||
CRE | 41,403 | — | 41,403 | — | — | — | 41,403 | 1,542 | |||||||||||||||||||||||
Construction | 10,940 | — | 10,940 | — | — | — | 10,940 | 394 | |||||||||||||||||||||||
Total covered commercial | 58,395 | 1,235 | 59,630 | — | — | — | 59,630 | 2,682 | |||||||||||||||||||||||
Total TDRs | $ | 117,343 | $ | 5,263 | $ | 122,606 | $ | 2,880 | $ | 4,493 | $ | 7,373 | $ | 129,979 | $ | 6,881 |
As of September 30, 2012 | ||||||
Number of Loans | Recorded Investment | |||||
Noncovered loans | ||||||
Commercial | ||||||
C&I | — | $ | — | |||
CRE | — | — | ||||
Construction | — | — | ||||
Total noncovered commercial | — | — | ||||
Consumer | ||||||
Installment | 122 | 4,385 | ||||
Home equity lines | 15 | 669 | ||||
Credit card | 18 | 122 | ||||
Residential mortgages | 1 | 80 | ||||
Total noncovered consumer | 156 | 5,256 | ||||
Covered loans | ||||||
Commercial | ||||||
C&I | — | — | ||||
CRE | — | — | ||||
Construction | — | — | ||||
Total covered commercial | — | — | ||||
Total | 156 | $ | 5,256 |
September 30, 2012 | |||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||
Core deposit intangibles | $ | 16,759 | $ | (10,117 | ) | $ | 6,642 | ||||
Non-compete covenant | 102 | (70 | ) | 32 | |||||||
Lease intangible | 618 | (475 | ) | 143 | |||||||
$ | 17,479 | $ | (10,662 | ) | $ | 6,817 |
December 31, 2011 | |||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||
Core deposit intangibles | $ | 16,759 | $ | (8,829 | ) | $ | 7,930 | ||||
Non-compete covenant | 102 | (51 | ) | 51 | |||||||
Lease intangible | 618 | (360 | ) | 258 | |||||||
$ | 17,479 | $ | (9,240 | ) | $ | 8,239 |
September 30, 2011 | |||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||
Core deposit intangibles | $ | 16,760 | $ | (8,339 | ) | $ | 8,421 | ||||
Non-compete covenant | 102 | (45 | ) | 57 | |||||||
Lease intangible | 617 | (313 | ) | 304 | |||||||
$ | 17,479 | $ | (8,697 | ) | $ | 8,782 |
Three Months Ended | Nine Months Ended | ||||||||||||||
September 30, 2012 | September 30, 2011 | September 30, 2012 | September 30, 2011 | ||||||||||||
BASIC EPS: | |||||||||||||||
Net income | $ | 34,953 | $ | 31,737 | $ | 95,882 | $ | 89,060 | |||||||
Net income available to common shareholders | $ | 34,953 | $ | 31,737 | $ | 95,882 | $ | 89,060 | |||||||
Average common shares outstanding | 109,645 | 109,245 | 109,473 | 109,052 | |||||||||||
Basic net income per share | $ | 0.32 | $ | 0.29 | $ | 0.88 | $ | 0.82 | |||||||
DILUTED EPS: | |||||||||||||||
Income used in diluted earnings per share calculation | $ | 34,953 | $ | 31,737 | $ | 95,882 | $ | 89,060 | |||||||
Average common and common stock equivalent shares outstanding | 109,645 | 109,246 | 109,473 | 109,053 | |||||||||||
Diluted net income per share | $ | 0.32 | $ | 0.29 | $ | 0.88 | $ | 0.82 |
Commercial | Retail | Wealth | Other | Consolidated | |||||||||||||||||||||||||||||||||||
September 30, 2012 | 3rd Qtr | YTD | 3rd Qtr | YTD | 3rd Qtr | YTD | 3rd Qtr | YTD | 3rd Qtr | YTD | |||||||||||||||||||||||||||||
OPERATIONS: | |||||||||||||||||||||||||||||||||||||||
Net interest income (loss) | $ | 65,446 | $ | 193,776 | $ | 51,181 | $ | 158,745 | $ | 4,223 | $ | 13,412 | $ | (2,960 | ) | $ | (10,333 | ) | $ | 117,890 | $ | 355,600 | |||||||||||||||||
Provision for loan losses | 10,401 | 22,970 | 1,194 | 5,459 | (519 | ) | (318 | ) | 5,103 | 14,325 | 16,179 | 42,436 | |||||||||||||||||||||||||||
Other income | 15,247 | 47,603 | 26,783 | 76,226 | 8,528 | 24,987 | 4,367 | 13,136 | 54,925 | 161,952 | |||||||||||||||||||||||||||||
Other expenses | 39,595 | 123,074 | 53,788 | 169,618 | 9,711 | 29,718 | 5,493 | 19,022 | 108,587 | 341,432 | |||||||||||||||||||||||||||||
Net income (loss) | 19,954 | 61,967 | 14,939 | 38,931 | 2,313 | 5,849 | (2,253 | ) | (10,865 | ) | 34,953 | 95,882 | |||||||||||||||||||||||||||
AVERAGES: | |||||||||||||||||||||||||||||||||||||||
Assets | $ | 6,466,355 | $ | 6,386,617 | $ | 2,960,336 | $ | 2,929,911 | $ | 242,539 | $ | 238,899 | $ | 5,064,786 | $ | 5,041,099 | $ | 14,734,016 | $ | 14,596,526 |
Commercial | Retail | Wealth | Other | Consolidated | |||||||||||||||||||||||||||||||||||
September 30, 2011 | 3rd Qtr | YTD | 3rd Qtr | YTD | 3rd Qtr | YTD | 3rd Qtr | YTD | 3rd Qtr | YTD | |||||||||||||||||||||||||||||
OPERATIONS: | |||||||||||||||||||||||||||||||||||||||
Net interest income (loss) | $ | 65,998 | $ | 198,197 | $ | 56,705 | $ | 168,718 | $ | 4,568 | $ | 14,205 | $ | (7,879 | ) | $ | (22,461 | ) | $ | 119,392 | $ | 358,659 | |||||||||||||||||
Provision for loan losses | 4,546 | 29,653 | 5,249 | 17,715 | 1,261 | 2,587 | 8,316 | 9,385 | 19,372 | 59,340 | |||||||||||||||||||||||||||||
Other income | 16,219 | 43,632 | 28,333 | 78,309 | 7,784 | 24,066 | 8,436 | 19,012 | 60,772 | 165,019 | |||||||||||||||||||||||||||||
Other expenses | 36,745 | 110,073 | 57,567 | 177,201 | 10,004 | 30,363 | 11,641 | 22,833 | 115,957 | 340,470 | |||||||||||||||||||||||||||||
Net income (loss) | 40,644 | 100,519 | 20,464 | 45,779 | 1,199 | 5,420 | (30,570 | ) | (62,658 | ) | 31,737 | 89,060 | |||||||||||||||||||||||||||
AVERAGES: | |||||||||||||||||||||||||||||||||||||||
Assets | $ | 6,258,625 | $ | 6,162,742 | $ | 2,925,345 | $ | 2,937,888 | $ | 237,638 | $ | 240,919 | $ | 5,189,020 | $ | 5,110,001 | $ | 14,610,628 | $ | 14,451,550 |
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2012 | December 31, 2011 | September 30, 2011 | September 30, 2012 | December 31, 2011 | September 30, 2011 | ||||||||||||||||||||||||||||||||||||||||||
Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (b) | Notional/ Contract Amount | Fair Value (b) | Notional/ Contract Amount | Fair Value (b) | ||||||||||||||||||||||||||||||||||||
Interest rate swaps: | |||||||||||||||||||||||||||||||||||||||||||||||
Fair value hedges | $ | — | $ | — | $ | 819 | $ | — | $ | — | $ | — | $ | 182,950 | $ | 22,071 | $ | 234,330 | $ | 25,889 | $ | 248,447 | $ | 28,278 |
(a) | Included in Other Assets on the Consolidated Balance Sheets |
(b) | Included in Other Liabilities on the Consolidated Balance Sheets |
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2012 | December 31, 2011 | September 30, 2011 | September 30, 2012 | December 31, 2011 | September 30, 2011 | ||||||||||||||||||||||||||||||||||||||||||
Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (a) | Notional/ Contract Amount | Fair Value (b) | Notional/ Contract Amount | Fair Value (b) | Notional/ Contract Amount | Fair Value (b) | ||||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | 1,166,765 | $ | 62,796 | $ | 976,823 | $ | 58,875 | $ | 934,248 | $ | 61,299 | $ | 1,166,765 | $ | 62,796 | $ | 976,823 | $ | 58,875 | $ | 934,248 | $ | 61,299 | |||||||||||||||||||||||
Mortgage loan commitments | 221,057 | 7,394 | 191,514 | 4,959 | 227,999 | 5,525 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Forward sales contracts | 144,849 | (2,223 | ) | 159,377 | (1,798 | ) | 182,588 | (1,591 | ) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Credit contracts | — | — | — | — | — | — | 20,861 | — | 17,951 | — | 24,435 | — | |||||||||||||||||||||||||||||||||||
Foreign exchange | 4,363 | 80 | 3,582 | 65 | 2,461 | 85 | 4,371 | 71 | 3,793 | 62 | 2,456 | 80 | |||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | 27,898 | — | 21,094 | 1,324 | 17,809 | — | |||||||||||||||||||||||||||||||||||
Total | $ | 1,537,034 | $ | 68,047 | $ | 1,331,296 | $ | 62,101 | $ | 1,347,296 | $ | 65,318 | $ | 1,219,895 | $ | 62,867 | $ | 1,019,661 | $ | 60,261 | $ | 978,948 | $ | 61,379 |
(a) | Included in Other Assets on the Consolidated Balance Sheet |
(b) | Included in Other Liabilities on the Consolidated Balance Sheet |
Amount of Gain / (Loss) Recognized in Income on Derivatives | ||||||||||
Three Months Ended, | Three Months Ended, | |||||||||
September 30, 2012 | September 30, 2011 | |||||||||
Mortgage loan commitments | Loan sales and servicing income | $ | 2,146 | $ | 3,986 | |||||
Forward sales contracts | Loan sales and servicing income | (1,023 | ) | (1,596 | ) | |||||
Foreign exchange contracts | Other income | 136 | 6 | |||||||
Total | $ | 1,259 | $ | 2,396 |
Pension Benefits | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Components of Net Periodic Pension Cost | |||||||||||||||
Service Cost | $ | 1,799 | $ | 1,531 | $ | 5,397 | $ | 4,593 | |||||||
Interest Cost | 2,965 | 2,860 | 8,895 | 8,580 | |||||||||||
Expected return on assets | (3,034 | ) | (3,328 | ) | (9,102 | ) | (9,984 | ) | |||||||
Amortization of unrecognized prior service costs | 97 | 98 | 291 | 294 | |||||||||||
Cumulative net loss | 2,593 | 1,780 | 7,779 | 5,340 | |||||||||||
Net periodic pension cost | $ | 4,420 | $ | 2,941 | $ | 13,260 | $ | 8,823 |
Postretirement Benefits | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Components of Net Periodic Postretirement Cost | |||||||||||||||
Service Cost | $ | 19 | $ | 14 | $ | 57 | $ | 42 | |||||||
Interest Cost | 174 | 221 | 522 | 663 | |||||||||||
Amortization of unrecognized prior service costs | (117 | ) | — | (351 | ) | — | |||||||||
Cumulative net loss | 72 | 28 | 216 | 84 | |||||||||||
Net periodic postretirement cost | $ | 148 | $ | 263 | $ | 444 | $ | 789 |
12. | Fair Value Measurement |
• | Level 1 - Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. |
• | Level 2 - Significant other observable inputs other than Level 1 prices such quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. |
• | Level 3 - Significant unobservable inputs that reflect a company's own assumptions about the assumptions that market participants would use in pricing an asset or liability. |
• | the amount of time since the last relevant valuation; |
• | whether there is an actual trade or relevant external quote available at the measurement date; and |
• | volatility associated with the primary pricing components. |
• | an independent review and approval of valuation models; |
• | recurring detailed reviews of profit and loss; and |
• | a validation of valuation model components against benchmark data and similar products, where possible. |
Fair Value by Hierarchy | |||||||||||||||
September 30, 2012 | Level 1 | Level 2 | Level 3 | ||||||||||||
Recurring fair value measurement | |||||||||||||||
Available-for-sale securities: | |||||||||||||||
Money market mutual funds | $ | 3,245 | $ | 3,245 | $ | — | $ | — | |||||||
U.S. government agency debentures | 35,137 | — | 35,137 | — | |||||||||||
U.S. States and political subdivisions | 258,418 | — | 258,418 | — | |||||||||||
Residential mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 1,277,831 | — | 1,277,831 | — | |||||||||||
Commercial mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 15,667 | — | 15,667 | — | |||||||||||
Residential collateralized mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 1,205,525 | — | 1,205,525 | — | |||||||||||
Non-agency | 12 | — | 1 | 11 | |||||||||||
Commercial collateralized mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 68,665 | — | 68,665 | — | |||||||||||
Corporate debt securities | 47,493 | — | — | 47,493 | |||||||||||
Total available-for-sale securities | 2,911,993 | 3,245 | 2,861,244 | 47,504 | |||||||||||
Residential loans held for sale | 17,540 | — | 17,540 | — | |||||||||||
Derivative assets: | |||||||||||||||
Interest rate swaps - fair value hedges | — | — | — | — | |||||||||||
Interest rate swaps - nondesignated | 62,796 | — | 62,796 | — | |||||||||||
Mortgage loan commitments | 7,394 | — | 7,394 | — | |||||||||||
Forward sale contracts | (2,223 | ) | — | (2,223 | ) | — | |||||||||
Foreign exchange | 80 | — | 80 | — | |||||||||||
Total derivative assets | 68,047 | — | 68,047 | — | |||||||||||
Total fair value of assets (a) | $ | 2,997,580 | $ | 3,245 | $ | 2,946,831 | $ | 47,504 | |||||||
Derivative liabilities: | |||||||||||||||
Interest rate swaps - fair value hedges | 22,071 | — | 22,071 | — | |||||||||||
Interest rate swaps - nondesignated | 62,796 | — | 62,796 | — | |||||||||||
Foreign exchange | 71 | — | 71 | — | |||||||||||
Total derivative liabilities | 84,938 | — | 84,938 | — | |||||||||||
True-up liability | 12,642 | — | — | 12,642 | |||||||||||
Total fair value of liabilities (a) | $ | 97,580 | $ | — | $ | 84,938 | $ | 12,642 | |||||||
Nonrecurring fair value measurement | |||||||||||||||
Mortgage servicing rights (b) | $ | 17,294 | $ | — | $ | — | $ | 17,294 | |||||||
Impaired loans (c) | 44,010 | — | — | 44,010 | |||||||||||
Other property (d) | 6,333 | — | — | 6,333 | |||||||||||
Other real estate covered by loss share (e) | 14,695 | — | — | 14,695 | |||||||||||
Total fair value | $ | 82,332 | $ | — | $ | — | $ | 82,332 |
Fair Value by Hierarchy | |||||||||||||||
December 31, 2011 | Level 1 | Level 2 | Level 3 | ||||||||||||
Recurring fair value measurement | |||||||||||||||
Available-for-sale securities: | |||||||||||||||
Money market mutual funds | $ | 3,299 | $ | 3,299 | $ | — | $ | — | |||||||
U.S. government agency debentures | 123,069 | — | 123,069 | — | |||||||||||
U.S. States and political subdivisions | 357,731 | — | 357,731 | — | |||||||||||
Residential mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 1,460,343 | — | 1,460,343 | — | |||||||||||
Residential collateralized mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 1,137,835 | — | 1,137,835 | — | |||||||||||
Non-agency | 43,307 | — | 2 | 43,305 | |||||||||||
Commercial collateralized mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 129,127 | — | 129,127 | — | |||||||||||
Corporate debt securities | 98,842 | — | 54,608 | 44,234 | |||||||||||
Total available-for-sale securities | 3,353,553 | 3,299 | 3,262,715 | 87,539 | |||||||||||
Residential loans held for sale | 30,077 | — | 30,077 | — | |||||||||||
Derivative assets: | |||||||||||||||
Interest rate swaps - fair value hedges | — | — | — | — | |||||||||||
Interest rate swaps - nondesignated | 58,875 | — | 58,875 | — | |||||||||||
Mortgage loan commitments | 4,959 | — | 4,959 | — | |||||||||||
Forward sale contracts | (1,798 | ) | — | (1,798 | ) | — | |||||||||
Foreign exchange | 20 | — | 65 | — | |||||||||||
Total derivative assets | 62,056 | — | 62,101 | — | |||||||||||
Total fair value of assets (a) | $ | 3,445,686 | $ | 3,299 | $ | 3,354,893 | $ | 87,539 | |||||||
Derivative liabilities: | |||||||||||||||
Interest rate swaps - fair value hedges | 25,889 | — | 25,889 | — | |||||||||||
Interest rate swaps - nondesignated | 58,875 | — | 58,875 | — | |||||||||||
Foreign exchange | 18 | — | 62 | — | |||||||||||
Other | 1,324 | — | 1,324 | — | |||||||||||
Total derivative liabilities | 86,106 | — | 86,150 | — | |||||||||||
True-up liability | 11,551 | — | — | 11,551 | |||||||||||
Total fair value of liabilities (a) | $ | 97,657 | $ | — | $ | 86,150 | $ | 11,551 | |||||||
Nonrecurring fair value measurement | |||||||||||||||
Mortgage servicing rights (b) | $ | 17,749 | $ | — | $ | — | $ | 17,749 | |||||||
Impaired loans (c) | 56,739 | — | — | 56,739 | |||||||||||
Other property (d) | 4,087 | — | — | 4,087 | |||||||||||
Other real estate covered by loss share (e) | 18,707 | — | — | 18,707 | |||||||||||
Total fair value | $ | 97,282 | $ | — | $ | — | $ | 97,282 |
Fair Value by Hierarchy | |||||||||||||||
September 30, 2011 | Level 1 | Level 2 | Level 3 | ||||||||||||
Recurring fair value measurement | |||||||||||||||
Available-for-sale securities: | |||||||||||||||
Money market mutual funds | $ | 3,715 | $ | 3,715 | $ | — | $ | — | |||||||
U.S. government agency debentures | 203,718 | — | 203,718 | — | |||||||||||
U.S. States and political subdivisions | 314,441 | — | 314,441 | — | |||||||||||
Residential mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 1,481,222 | — | 1,481,222 | — | |||||||||||
Residential collateralized mortgage-backed securities: | |||||||||||||||
U.S. government agencies | 1,103,906 | — | 1,103,906 | — | |||||||||||
Non-agency | 44,857 | — | 3 | 44,854 | |||||||||||
Commercial collateralized mortgage-backed securities: | |||||||||||||||
U.S. government agencies | — | — | — | — | |||||||||||
Corporate debt securities | 46,187 | — | — | 46,187 | |||||||||||
Total available-for-sale securities | 3,198,046 | 3,715 | 3,103,290 | 91,041 | |||||||||||
Residential loans held for sale | 39,340 | — | 39,340 | — | |||||||||||
Derivative assets: | |||||||||||||||
Interest rate swaps - fair value hedges | — | — | — | — | |||||||||||
Interest rate swaps - nondesignated | 61,299 | — | 61,299 | — | |||||||||||
Mortgage loan commitments | 5,525 | — | 5,525 | — | |||||||||||
Forward sale contracts | (1,591 | ) | — | (1,591 | ) | — | |||||||||
Foreign exchange | 85 | — | 85 | — | |||||||||||
Total derivative assets | 65,318 | — | 65,318 | — | |||||||||||
Total fair value of assets (a) | $ | 3,302,704 | $ | 3,715 | $ | 3,207,948 | $ | 91,041 | |||||||
Derivative liabilities: | |||||||||||||||
Interest rate swaps - fair value hedges | 28,278 | — | 28,278 | — | |||||||||||
Interest rate swaps - nondesignated | 61,299 | — | 61,299 | — | |||||||||||
Foreign exchange | 80 | — | 80 | — | |||||||||||
Other | — | — | — | — | |||||||||||
Total derivative liabilities | 89,657 | — | 89,657 | — | |||||||||||
True-up liability | 11,913 | — | — | 11,913 | |||||||||||
Total fair value of liabilities (a) | $ | 101,570 | $ | — | $ | 89,657 | $ | 11,913 | |||||||
Nonrecurring fair value measurement | |||||||||||||||
Mortgage servicing rights (b) | $ | 16,866 | $ | — | $ | — | $ | 16,866 | |||||||
Impaired loans (c) | 59,155 | — | — | 59,155 | |||||||||||
Other property (d) | 8,648 | — | — | 8,648 | |||||||||||
Other real estate covered by loss share (e) | 29,350 | — | — | 29,350 | |||||||||||
Total fair value | $ | 114,019 | $ | — | $ | — | $ | 114,019 |
Three months ended | Nine Months Ended | ||||||||||||||||||||||||||||||
September 30, 2012 | September 30, 2011 | September 30, 2012 | September 30, 2011 | ||||||||||||||||||||||||||||
Available-for-sale securities | True-up liability | Available-for-sale securities | True-up liability | Available-for-sale securities | True-up liability | Available-for-sale securities | True-up liability | ||||||||||||||||||||||||
Balance at beginning of period | $ | 48,096 | $ | 11,820 | $ | 144,570 | $ | 12,196 | $ | 87,539 | $ | 11,551 | $ | 60,344 | $ | 12,061 | |||||||||||||||
(Gains) losses included in earnings (a) | — | 822 | — | (283 | ) | — | 1,091 | — | (148 | ) | |||||||||||||||||||||
Unrealized gains (losses) (b) | (605 | ) | — | (4,549 | ) | — | 3,137 | — | (4,199 | ) | — | ||||||||||||||||||||
Purchases | — | — | — | — | — | — | 83,876 | — | |||||||||||||||||||||||
Sales | — | — | (44,924 | ) | — | (40,520 | ) | — | (44,924 | ) | — | ||||||||||||||||||||
Settlements | 13 | — | (4,056 | ) | — | (2,652 | ) | — | (4,056 | ) | — | ||||||||||||||||||||
Net transfers into (out of) Level 3 | — | — | — | — | — | — | — | — | |||||||||||||||||||||||
Balance at ending of period | $ | 47,504 | $ | 12,642 | $ | 91,041 | $ | 11,913 | $ | 47,504 | $ | 12,642 | $ | 91,041 | $ | 11,913 |
Quarter ended | Year ended | Quarter ended | |||||||||
September 30, 2012 | December 31, 2011 | September 30, 2011 | |||||||||
Aggregate fair value | $ | 17,540 | $ | 30,077 | $ | 39,340 | |||||
Contractual balance | 16,635 | 28,948 | 37,786 | ||||||||
Gain (a) | 905 | 1,129 | 1,554 | ||||||||
September 30, 2012 | |||||||||||||||||||
Carrying Amount | Fair Value | ||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets: | |||||||||||||||||||
Cash and due from banks | $ | 238,417 | $ | 238,417 | $ | — | $ | 238,417 | $ | — | |||||||||
Available for sale securities | 2,911,993 | 2,911,993 | 3,245 | 2,861,244 | 47,504 | ||||||||||||||
Held to maturity securities | 620,631 | 631,237 | — | 631,237 | — | ||||||||||||||
Other securities | 140,730 | 140,730 | — | 140,730 | — | ||||||||||||||
Loans held for sale | 17,540 | 17,540 | — | 17,540 | — | ||||||||||||||
Net noncovered loans | 8,217,478 | 7,898,195 | — | — | 7,898,195 | ||||||||||||||
Net covered loans and loss share receivable | 1,131,285 | 1,131,285 | — | — | 1,131,285 | ||||||||||||||
Accrued interest receivable | 43,901 | 43,901 | — | 43,901 | — | ||||||||||||||
Derivatives | 68,047 | 68,047 | — | 68,047 | — | ||||||||||||||
Financial liabilities: | |||||||||||||||||||
Deposits | $ | 11,532,426 | $ | 11,540,681 | $ | — | $ | 11,540,681 | $ | — | |||||||||
Federal funds purchased and securities sold under agreements to repurchase | 963,455 | 963,455 | — | 963,455 | — | ||||||||||||||
Wholesale borrowings | 178,083 | 187,230 | — | 187,230 | — | ||||||||||||||
Accrued interest payable | 2,798 | 2,798 | — | 2,798 | — | ||||||||||||||
Derivatives | 84,938 | 84,938 | — | 84,938 | — |
December 31, 2011 | |||||||||||||||||||
Carrying Amount | Fair Value | ||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets: | |||||||||||||||||||
Cash and due from banks | $ | 377,319 | $ | 377,319 | $ | — | $ | 377,319 | $ | — | |||||||||
Available for sale securities | 3,353,553 | 3,353,553 | 3,299 | 3,262,715 | 87,539 | ||||||||||||||
Held to maturity securities | 82,764 | 85,112 | — | 85,112 | — | ||||||||||||||
Other securities | 140,726 | 140,726 | — | 140,726 | — | ||||||||||||||
Loans held for sale | 30,077 | 30,077 | — | 30,077 | — | ||||||||||||||
Net noncovered loans | 7,641,245 | 7,373,801 | — | — | 7,373,801 | ||||||||||||||
Net covered loans and loss share receivable | 1,460,723 | 1,460,723 | — | — | 1,460,723 | ||||||||||||||
Accrued interest receivable | 42,274 | 42,274 | — | 42,274 | — | ||||||||||||||
Derivatives | 62,056 | 62,101 | — | 62,101 | — | ||||||||||||||
Financial liabilities: | |||||||||||||||||||
Deposits | $ | 11,431,609 | $ | 11,445,777 | $ | — | $ | 11,445,777 | $ | — | |||||||||
Federal funds purchased and securities sold under agreements to repurchase | 866,265 | 866,265 | — | 866,265 | — | ||||||||||||||
Wholesale borrowings | 203,462 | 211,623 | — | 211,623 | — | ||||||||||||||
Accrued interest payable | 3,915 | 3,915 | — | 3,915 | — | ||||||||||||||
Derivatives | 86,106 | 86,150 | — | 86,150 | — |
September 30, 2011 | |||||||||||||||||||
Carrying Amount | Fair Value | ||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets: | |||||||||||||||||||
Cash and due from banks | $ | 318,945 | $ | 318,945 | $ | — | $ | 318,945 | $ | — | |||||||||
Available for sale securities | 3,198,046 | 3,198,046 | 3,715 | 3,103,290 | 91,041 | ||||||||||||||
Held to maturity securities | 92,214 | 94,921 | — | 94,921 | — | ||||||||||||||
Other securities | 160,793 | 160,793 | — | 160,793 | — | ||||||||||||||
Loans held for sale | 39,340 | 39,340 | — | 39,340 | — | ||||||||||||||
Net noncovered loans | 7,522,385 | 7,148,775 | — | — | 7,148,775 | ||||||||||||||
Net covered loans and loss share receivable | 1,612,615 | 1,612,615 | — | — | 1,612,615 | ||||||||||||||
Accrued interest receivable | 41,199 | 41,199 | — | 41,199 | — | ||||||||||||||
Derivatives | 65,318 | 65,318 | — | 65,318 | — | ||||||||||||||
Financial liabilities: | |||||||||||||||||||
Deposits | $ | 11,396,121 | $ | 11,412,576 | $ | — | $ | 11,412,576 | $ | — | |||||||||
Federal funds purchased and securities sold under agreements to repurchase | 987,030 | 991,304 | — | 991,304 | — | ||||||||||||||
Wholesale borrowings | 248,006 | 256,069 | — | 256,069 | — | ||||||||||||||
Accrued interest payable | 4,627 | 4,627 | — | 4,627 | — | ||||||||||||||
Derivatives | 89,657 | 89,657 | — | 89,657 | — |
13. | Mortgage Servicing Rights and Mortgage Servicing Activity |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Balance at beginning of period | $ | 21,273 | $ | 21,094 | $ | 21,179 | $ | 21,317 | |||||||
Additions | 1,408 | 798 | 4,597 | 2,660 | |||||||||||
Amortization | (1,390 | ) | (1,111 | ) | (4,485 | ) | (3,196 | ) | |||||||
Balance at end of period | 21,291 | 20,781 | 21,291 | 20,781 | |||||||||||
Valuation allowance at beginning of period | (3,488 | ) | (350 | ) | (3,539 | ) | — | ||||||||
Recoveries (Additions) | (590 | ) | (3,639 | ) | (539 | ) | (3,989 | ) | |||||||
Valuation allowance at end of period | (4,078 | ) | (3,989 | ) | (4,078 | ) | (3,989 | ) | |||||||
Mortgage servicing rights, net carrying balance | $ | 17,213 | $ | 16,792 | $ | 17,213 | $ | 16,792 | |||||||
Fair value at end of period | $ | 17,294 | $ | 16,866 | $ | 17,294 | $ | 16,866 | |||||||
Prepayment speed assumption (annual CPR) | 17.5 | % | |
Decrease in fair value from 10% adverse change | $ | 921 | |
Decrease in fair value from 25% adverse change | 2,193 | ||
Discount rate assumption | 9.7 | % | |
Decrease in fair value from 100 basis point adverse change | $ | 478 | |
Decrease in fair value from 200 basis point adverse change | 926 | ||
Expected weighted-average life (in months) | 71.5 |
September 30, 2012 | December 31, 2011 | September 30, 2011 | |||||||||
Loan Commitments | |||||||||||
Commercial | $ | 2,406,226 | $ | 2,023,284 | $ | 2,047,840 | |||||
Consumer | 1,687,955 | 1,585,655 | 1,610,924 | ||||||||
Total loan commitments | $ | 4,094,181 | $ | 3,608,939 | $ | 3,658,764 | |||||
September 30, 2012 | December 31, 2011 | September 30, 2011 | |||||||||
Financial guarantees | |||||||||||
Standby letters of credit | $ | 125,791 | $ | 135,039 | $ | 130,186 | |||||
Loans sold with recourse | 39,251 | 38,808 | 40,763 | ||||||||
Total financial guarantees | $ | 165,042 | $ | 173,847 | $ | 170,949 | |||||
Three Months Ended September 30, 2012 | |||||||||||
Reserve on residential mortgage loans | Reserve on manufactured housing loans | Total repurchase reserve | |||||||||
Balance at beginning of period | $ | 750 | $ | 1,263 | $ | 2,013 | |||||
Net realized losses | (202 | ) | — | (202 | ) | ||||||
Net increase to reserve | 552 | (70 | ) | 482 | |||||||
Balance at end of period | $ | 1,100 | $ | 1,193 | $ | 2,293 | |||||
Three Months Ended September 30, 2011 | |||||||||||
Reserve on residential mortgage loans | Reserve on manufactured housing loans | Total repurchase reserve | |||||||||
Balance at beginning of period | $ | 465 | $ | 1,598 | $ | 2,063 | |||||
Net realized losses | (96 | ) | — | (96 | ) | ||||||
Net increase to reserve | 1 | 6 | 7 | ||||||||
Balance at end of period | $ | 370 | $ | 1,604 | $ | 1,974 | |||||
Nine Months Ended September 30, 2012 | |||||||||||
Reserve on residential mortgage loans | Reserve on manufactured housing loans | Total repurchase reserve | |||||||||
Balance at beginning of period | $ | 470 | $ | 1,273 | $ | 1,743 | |||||
Net realized losses | (569 | ) | — | (569 | ) | ||||||
Net increase to reserve | 1,199 | (80 | ) | 1,119 | |||||||
Balance at end of period | $ | 1,100 | $ | 1,193 | $ | 2,293 |
Nine Months Ended September 30, 2011 | |||||||||||
Reserve on residential mortgage loans | Reserve on manufactured housing loans | Total repurchase reserve | |||||||||
Balance at beginning of period | $ | 600 | $ | 2,233 | $ | 2,833 | |||||
Net realized losses | (321 | ) | (35 | ) | (356 | ) | |||||
Net increase to reserve | 91 | (594 | ) | (503 | ) | ||||||
Balance at end of period | $ | 370 | $ | 1,604 | $ | 1,974 |
ITEM 2. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. |
Average Consolidated Balance Sheets (Unaudited) | ||||||||||||||||||||||
Fully Tax-equivalent Interest Rates and Interest Differential | ||||||||||||||||||||||
Three months ended | Three months ended | |||||||||||||||||||||
September 30, 2012 | September 30, 2011 | |||||||||||||||||||||
(Dollars in thousands) | Average Balance | Interest | Average Rate | Average Balance | Interest | Average Rate | ||||||||||||||||
ASSETS | ||||||||||||||||||||||
Cash and due from banks | $ | 440,231 | $ | 517,150 | ||||||||||||||||||
Investment securities and federal funds sold: | ||||||||||||||||||||||
U.S. Treasury securities and U.S. Government agency obligations (taxable) | 2,688,658 | $ | 17,981 | 2.66 | % | 2,974,656 | $ | 19,864 | 2.65 | % | ||||||||||||
Obligations of states and political subdivisions (tax exempt) | 660,143 | 6,332 | 3.82 | % | 385,055 | 5,275 | 5.44 | % | ||||||||||||||
Other securities and federal funds sold | 344,823 | 2,652 | 3.06 | % | 316,383 | 2,084 | 2.61 | % | ||||||||||||||
Total investment securities and federal funds sold | 3,693,624 | 26,965 | 2.90 | % | 3,676,094 | 27,223 | 2.94 | % | ||||||||||||||
Loans held for sale | 23,631 | 240 | 4.04 | % | 24,524 | 284 | 4.59 | % | ||||||||||||||
Loans, including loss share receivable | 9,402,218 | 103,128 | 4.36 | % | 9,177,487 | 108,444 | 4.69 | % | ||||||||||||||
Total earning assets | 13,119,473 | 130,333 | 3.95 | % | 12,878,105 | 135,951 | 4.19 | % | ||||||||||||||
Total allowance for loan losses | (145,061 | ) | (138,441 | ) | ||||||||||||||||||
Other assets | 1,319,373 | 1,353,814 | ||||||||||||||||||||
Total assets | $ | 14,734,016 | $ | 14,610,628 | ||||||||||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||||||||
Deposits: | ||||||||||||||||||||||
Noninterest-bearing | $ | 3,236,703 | $ | — | — | % | $ | 2,988,521 | $ | — | — | |||||||||||
Interest-bearing | 1,080,841 | 243 | 0.09 | % | 913,252 | 218 | 0.09 | % | ||||||||||||||
Savings and money market accounts | 5,746,210 | 5,166 | 0.36 | % | 5,446,351 | 6,929 | 0.50 | % | ||||||||||||||
Certificates and other time deposits | 1,528,177 | 2,743 | 0.71 | % | 2,099,558 | 4,370 | 0.83 | % | ||||||||||||||
Total deposits | 11,591,931 | 8,152 | 0.28 | % | 11,447,682 | 11,517 | 0.40 | % | ||||||||||||||
Securities sold under agreements to repurchase | 1,032,401 | 310 | 0.12 | % | 969,020 | 977 | 0.40 | % | ||||||||||||||
Wholesale borrowings | 178,022 | 1,130 | 2.53 | % | 320,691 | 1,669 | 2.06 | % | ||||||||||||||
Total interest-bearing liabilities | 9,565,651 | 9,592 | 0.40 | % | 9,748,872 | 14,163 | 0.58 | % | ||||||||||||||
Other liabilities | 315,093 | 302,824 | ||||||||||||||||||||
Shareholders’ equity | 1,616,569 | 1,570,411 | ||||||||||||||||||||
Total liabilities and shareholders’ equity | $ | 14,734,016 | $ | 14,610,628 | ||||||||||||||||||
Net yield on earning assets | $ | 13,119,473 | $ | 120,741 | 3.66 | % | $ | 12,878,105 | $ | 121,788 | 3.75 | % | ||||||||||
Interest rate spread | 3.55 | % | 3.61 | % |
Average Consolidated Balance Sheets (Unaudited) | |||||||||||||||||||||
Fully Tax-equivalent Interest Rates and Interest Differential | |||||||||||||||||||||
Nine Months Ended | Nine Months Ended | ||||||||||||||||||||
September 30, 2012 | September 30, 2011 | ||||||||||||||||||||
(Dollars in thousands) | Average Balance | Interest | Average Rate | Average Balance | Interest | Average Rate | |||||||||||||||
ASSETS | |||||||||||||||||||||
Cash and due from banks | $ | 409,944 | $ | 541,992 | |||||||||||||||||
Investment securities and federal funds sold: | |||||||||||||||||||||
U.S. Treasury securities and U.S. Government agency obligations (taxable) | 2,797,521 | $ | 56,688 | 2.71 | % | 2,906,269 | $ | 59,174 | 2.72 | % | |||||||||||
Obligations of states and political subdivisions (tax exempt) | 526,962 | 18,450 | 4.68 | % | 370,553 | 15,709 | 5.67 | % | |||||||||||||
Other securities and federal funds sold | 369,639 | 8,146 | 2.94 | % | 296,976 | 6,436 | 2.90 | % | |||||||||||||
Total investment securities and federal funds sold | 3,694,122 | 83,284 | 3.01 | % | 3,573,798 | 81,319 | 3.04 | % | |||||||||||||
Loans held for sale | 24,279 | 761 | 4.19 | % | 21,877 | 779 | 4.76 | % | |||||||||||||
Loans, including loss share receivable | 9,295,866 | 309,530 | 4.45 | % | 9,126,596 | 330,965 | 4.85 | % | |||||||||||||
Total earning assets | 13,014,267 | 393,575 | 4.04 | % | 12,722,271 | 413,063 | 4.34 | % | |||||||||||||
Allowance for loan losses | (143,756 | ) | (138,758 | ) | |||||||||||||||||
Other assets | 1,316,071 | 1,326,045 | |||||||||||||||||||
Total assets | $ | 14,596,526 | $ | 14,451,550 | |||||||||||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Noninterest-bearing | $ | 3,139,515 | $ | — | — | % | $ | 2,954,172 | $ | — | — | % | |||||||||
Interest-bearing | 1,069,290 | 726 | 0.09 | % | 859,903 | 579 | 0.09 | % | |||||||||||||
Savings and money market accounts | 5,717,860 | 15,302 | 0.36 | % | 5,236,540 | 22,172 | 0.57 | % | |||||||||||||
Certificates and other time deposits | 1,613,270 | 9,436 | 0.78 | % | 2,360,522 | 16,803 | 0.95 | % | |||||||||||||
Total deposits | 11,539,935 | 25,464 | 0.29 | % | 11,411,137 | 39,554 | 0.46 | % | |||||||||||||
Securities sold under agreements to repurchase | 947,135 | 854 | 0.12 | % | 900,920 | 2,832 | 0.42 | % | |||||||||||||
Wholesale borrowings | 180,215 | 3,399 | 2.52 | % | 323,678 | 4,963 | 2.05 | % | |||||||||||||
Total interest bearing liabilities | 9,527,770 | 29,717 | 0.42 | % | 9,681,563 | 47,349 | 0.65 | % | |||||||||||||
Other liabilities | 330,254 | 275,452 | |||||||||||||||||||
Shareholders' equity | 1,598,987 | 1,540,363 | |||||||||||||||||||
Total liabilities and shareholders' equity | $ | 14,596,526 | $ | 14,451,550 | |||||||||||||||||
Net yield on earning assets | $ | 13,014,267 | $ | 363,858 | 3.73 | % | $ | 12,722,271 | $ | 365,714 | 3.84 | % | |||||||||
Interest rate spread | 3.62 | % | 3.69 | % | |||||||||||||||||
RATE/VOLUME ANALYSIS | Three Months Ended September 30, 2012 and 2011 | Nine Months Ended September 30, 2012 and 2011 | |||||||||||||||||||||
Increases (Decreases) | Increases (Decreases) | ||||||||||||||||||||||
(Dollars in thousands) | Volume | Rate | Total | Volume | Rate | Total | |||||||||||||||||
INTEREST INCOME - FTE | |||||||||||||||||||||||
Investment securities and federal funds sold: | |||||||||||||||||||||||
Taxable | $ | (1,745 | ) | $ | 430 | $ | (1,315 | ) | $ | (739 | ) | $ | (37 | ) | $ | (776 | ) | ||||||
Tax-exempt | 2,973 | (1,916 | ) | 1,057 | 5,813 | (3,072 | ) | 2,741 | |||||||||||||||
Loans held for sale | (10 | ) | (34 | ) | (44 | ) | 80 | (98 | ) | (18 | ) | ||||||||||||
Loans | 2,607 | (7,923 | ) | (5,316 | ) | 6,045 | (27,480 | ) | (21,435 | ) | |||||||||||||
Total interest income - FTE | 3,825 | (9,443 | ) | (5,618 | ) | 11,199 | (30,687 | ) | (19,488 | ) | |||||||||||||
INTEREST EXPENSE | |||||||||||||||||||||||
Interest on deposits: | |||||||||||||||||||||||
Interest-bearing | 38 | (13 | ) | 25 | 142 | 5 | 147 | ||||||||||||||||
Savings and money market accounts | 364 | (2,127 | ) | (1,763 | ) | 1,888 | (8,758 | ) | (6,870 | ) | |||||||||||||
Certificates of deposits and other time deposits | (1,081 | ) | (546 | ) | (1,627 | ) | (4,713 | ) | (2,654 | ) | (7,367 | ) | |||||||||||
Securities sold under agreements to repurchase | 60 | (727 | ) | (667 | ) | 139 | (2,117 | ) | (1,978 | ) | |||||||||||||
Wholesale borrowings | (852 | ) | 313 | (539 | ) | (2,533 | ) | 969 | (1,564 | ) | |||||||||||||
Total interest expense | (1,471 | ) | (3,100 | ) | (4,571 | ) | (5,077 | ) | (12,555 | ) | (17,632 | ) | |||||||||||
Net interest income - FTE | $ | 5,296 | $ | (6,343 | ) | $ | (1,047 | ) | $ | 16,276 | $ | (18,132 | ) | $ | (1,856 | ) |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(Dollars in thousands) | 2012 | 2011 | 2012 | 2011 | |||||||||||
Net interest income | $ | 117,890 | $ | 119,392 | $ | 355,600 | $ | 358,659 | |||||||
Tax equivalent adjustment | 2,851 | 2,396 | 8,258 | 7,055 | |||||||||||
Net interest income - FTE | $ | 120,741 | $ | 121,788 | $ | 363,858 | $ | 365,714 | |||||||
Average earning assets | $ | 13,119,473 | $ | 12,878,105 | $ | 13,014,267 | $ | 12,722,271 | |||||||
Net interest margin - FTE | 3.66 | % | 3.75 | % | 3.73 | % | 3.84 | % |
Three Months Ended | Nine Months Ended | ||||||||||||||
(In thousands) | September 30, 2012 | September 30, 2011 | September 30, 2012 | September 30, 2011 | |||||||||||
Trust department income | $ | 6,124 | $ | 5,607 | $ | 17,481 | $ | 16,983 | |||||||
Service charges on deposits | 14,603 | 17,838 | 43,490 | 48,460 | |||||||||||
Credit card fees | 11,006 | 13,640 | 32,402 | 39,357 | |||||||||||
ATM and other service fees | 3,680 | 3,801 | 11,360 | 9,781 | |||||||||||
Bank owned life insurance income | 3,094 | 3,182 | 9,073 | 11,439 | |||||||||||
Investment services and life insurance | 2,208 | 1,965 | 6,843 | 6,384 | |||||||||||
Investment securities gains, net | 553 | 4,402 | 1,361 | 5,291 | |||||||||||
Loan sales and servicing income | 7,255 | 3,426 | 19,085 | 9,102 | |||||||||||
Other operating income | 6,402 | 6,911 | 20,857 | 18,222 | |||||||||||
Total other income | $ | 54,925 | $ | 60,772 | $ | 161,952 | $ | 165,019 |
Three Months Ended | Nine Months Ended | ||||||||||||||
September 30, 2012 | September 30, 2011 | September 30, 2012 | September 30, 2011 | ||||||||||||
Salaries, wages, pension and employee benefits | $ | 58,061 | $ | 61,232 | $ | 183,632 | $ | 177,815 | |||||||
Net occupancy expense | 8,077 | 8,464 | 24,640 | 25,144 | |||||||||||
Equipment expense | 7,143 | 7,073 | 21,845 | 20,725 | |||||||||||
Taxes, other than federal income taxes | 2,051 | 1,507 | 6,025 | 4,389 | |||||||||||
Stationery, supplies and postage | 2,210 | 2,517 | 6,638 | 7,972 | |||||||||||
Bankcard, loan processing, and other costs | 8,424 | 8,449 | 24,935 | 24,278 | |||||||||||
Advertising | 2,472 | 2,391 | 6,436 | 7,061 | |||||||||||
Professional services | 4,702 | 5,732 | 17,361 | 17,466 | |||||||||||
Telephone | 1,316 | 1,570 | 4,094 | 4,518 | |||||||||||
Amortization of intangibles | 456 | 543 | 1,422 | 1,629 | |||||||||||
FDIC expense | 1,832 | 3,240 | 9,015 | 12,187 | |||||||||||
Other operating expense | 11,843 | 13,239 | 35,389 | 37,286 | |||||||||||
Total other expense | $ | 108,587 | $ | 115,957 | $ | 341,432 | $ | 340,470 |
Commercial | Retail | Wealth | Other | FirstMerit Consolidated | ||||||||||||||||||||||||||||||||||||
September 30, 2012 | QTD | YTD | QTD | YTD | QTD | YTD | QTD | YTD | QTD | YTD | ||||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net interest income (loss) - FTE | $ | 66,446 | $ | 196,729 | $ | 51,181 | $ | 158,745 | $ | 4,223 | $ | 13,412 | $ | (1,109 | ) | $ | (5,028 | ) | $ | 120,741 | $ | 363,858 | ||||||||||||||||||
Provision for loan losses | 10,401 | 22,970 | 1,194 | 5,459 | (519 | ) | (318 | ) | 5,103 | 14,325 | 16,179 | 42,436 | ||||||||||||||||||||||||||||
Other income | 15,247 | 47,603 | 26,783 | 76,226 | 8,528 | 24,987 | 4,367 | 13,136 | 54,925 | 161,952 | ||||||||||||||||||||||||||||||
Other expenses | 39,595 | 123,074 | 53,788 | 169,618 | 9,711 | 29,718 | 5,493 | 19,022 | 108,587 | 341,432 | ||||||||||||||||||||||||||||||
Net income (loss) | 20,954 | 64,920 | 14,939 | 38,931 | 2,313 | 5,849 | (3,253 | ) | (13,818 | ) | 34,953 | 95,882 | ||||||||||||||||||||||||||||
AVERAGES : | ||||||||||||||||||||||||||||||||||||||||
Assets | $ | 6,466,355 | $ | 6,386,617 | $ | 2,960,336 | $ | 2,929,911 | $ | 242,539 | $ | 238,899 | $ | 5,064,786 | $ | 5,041,099 | $ | 14,734,016 | $ | 14,596,526 | ||||||||||||||||||||
Loans (noncovered and covered) | 6,424,591 | 6,355,908 | 2,683,439 | 2,653,490 | 228,973 | 225,349 | 65,215 | 61,119 | 9,402,218 | 9,295,866 | ||||||||||||||||||||||||||||||
Earnings assets | 6,529,888 | 6,454,874 | 2,716,445 | 2,686,854 | 228,998 | 225,375 | 3,644,142 | 3,647,164 | 13,119,473 | 13,014,267 | ||||||||||||||||||||||||||||||
Deposits | 3,391,783 | 3,245,210 | 7,357,534 | 7,450,182 | 706,616 | 703,724 | 135,998 | 140,819 | 11,591,931 | 11,539,935 | ||||||||||||||||||||||||||||||
Economic Capital | 395,725 | 391,731 | 215,412 | 213,227 | 49,781 | 49,138 | 955,651 | 944,891 | 1,616,569 | 1,598,987 |
Commercial | Retail | Wealth | Other | FirstMerit Consolidated | ||||||||||||||||||||||||||||||||||||
September 30, 2011 | QTD | YTD | QTD | YTD | QTD | YTD | QTD | YTD | QTD | YTD | ||||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net interest income (loss) - FTE | $ | 66,674 | $ | 200,154 | $ | 56,705 | $ | 168,718 | $ | 4,568 | $ | 14,205 | $ | (6,159 | ) | $ | (17,363 | ) | $ | 121,788 | $ | 365,714 | ||||||||||||||||||
Provision for loan losses | 4,546 | 29,653 | 5,249 | 17,715 | 1,261 | 2,587 | 8,316 | 9,385 | 19,372 | 59,340 | ||||||||||||||||||||||||||||||
Other income | 16,219 | 43,632 | 28,333 | 78,309 | 7,784 | 24,066 | 8,436 | 19,012 | 60,772 | 165,019 | ||||||||||||||||||||||||||||||
Other expenses | 36,745 | 110,073 | 57,567 | 177,201 | 10,004 | 30,363 | 11,641 | 22,833 | 115,957 | 340,470 | ||||||||||||||||||||||||||||||
Net income (loss) | 27,674 | 69,392 | 14,448 | 33,876 | 708 | 3,455 | (11,093 | ) | (17,663 | ) | 31,737 | 89,060 | ||||||||||||||||||||||||||||
AVERAGES : | ||||||||||||||||||||||||||||||||||||||||
Assets | $ | 6,258,625 | $ | 6,162,742 | $ | 2,925,345 | $ | 2,937,888 | $ | 237,638 | $ | 240,919 | $ | 5,189,020 | $ | 5,110,001 | $ | 14,610,628 | $ | 14,451,550 | ||||||||||||||||||||
Loans (noncovered and covered) | 6,247,841 | 6,164,243 | 2,644,160 | 2,667,285 | 224,077 | 227,851 | 61,409 | 67,217 | 9,177,487 | 9,126,596 | ||||||||||||||||||||||||||||||
Earnings assets | 6,333,506 | 6,240,618 | 2,677,173 | 2,723,413 | 224,077 | 227,850 | 3,643,349 | 3,530,390 | 12,878,105 | 12,722,271 | ||||||||||||||||||||||||||||||
Deposits | 3,131,268 | 2,982,536 | 7,463,753 | 7,531,653 | 628,028 | 640,232 | 224,633 | 256,716 | 11,447,682 | 11,411,137 | ||||||||||||||||||||||||||||||
Economic Capital | 368,948 | 368,901 | 220,946 | 222,097 | 44,320 | 50,574 | 936,197 | 898,791 | 1,570,411 | 1,540,363 |
September 30, 2012 | December 31, 2011 | September 30, 2011 | |||||||||
(dollars in thousands) | |||||||||||
Commercial | $ | 5,511,678 | $ | 5,107,747 | $ | 5,018,857 | |||||
Residential mortgage | 439,062 | 413,664 | 397,309 | ||||||||
Installment | 1,321,081 | 1,263,665 | 1,271,327 | ||||||||
Home equity | 789,743 | 743,982 | 743,377 | ||||||||
Credit card | 143,918 | 146,356 | 142,710 | ||||||||
Leases | 110,938 | 73,530 | 57,992 | ||||||||
Total noncovered loans (a) | 8,316,420 | 7,748,944 | 7,631,572 | ||||||||
Allowance for noncovered loan losses | (98,942 | ) | (107,699 | ) | (109,187 | ) | |||||
Net noncovered loans | 8,217,478 | 7,641,245 | 7,522,385 | ||||||||
Covered loans (b) | 1,174,929 | 1,497,140 | 1,647,218 | ||||||||
Allowance for covered loan losses | (43,644 | ) | (36,417 | ) | (34,603 | ) | |||||
Net covered loans | 1,131,285 | 1,460,723 | 1,612,615 | ||||||||
Net loans | $ | 9,348,763 | $ | 9,101,968 | $ | 9,135,000 |
Three Months Ended | Nine Months Ended | ||||||||||||||
September 30, 2012 | September 30, 2011 | September 30, 2012 | September 30, 2011 | ||||||||||||
(dollars in thousands) | |||||||||||||||
Allowance for Noncovered Loan Losses | |||||||||||||||
Allowance for loan losses-beginning of period | $ | 103,849 | $ | 109,187 | $ | 107,699 | $ | 114,690 | |||||||
Provision for loan losses | 9,965 | 14,604 | 26,860 | 41,760 | |||||||||||
(Less) net charge-offs | 14,872 | 14,604 | 35,617 | 47,263 | |||||||||||
Allowance for loan losses-end of period | $ | 98,942 | $ | 109,187 | $ | 98,942 | $ | 109,187 | |||||||
Reserve for Unfunded Lending Commitments | |||||||||||||||
Balance at beginning of period | $ | 5,666 | $ | 5,799 | $ | 6,372 | $ | 8,849 | |||||||
Provision for/(relief of) credit losses | 94 | 561 | (612 | ) | (2,489 | ) | |||||||||
Balance at end of period | 5,760 | 6,360 | 5,760 | 6,360 | |||||||||||
Allowance for credit losses | $ | 104,702 | $ | 115,547 | $ | 104,702 | $ | 115,547 | |||||||
Annualized net charge-offs as a % of average noncovered loans | 0.72 | % | 0.77 | % | 0.60 | % | 0.86 | % | |||||||
Allowance for noncovered loan losses: | |||||||||||||||
As a percentage of period-end noncovered loans | 1.19 | % | 1.43 | % | 1.19 | % | 1.43 | % | |||||||
As a percentage of nonperforming noncovered loans | 196.66 | % | 160.80 | % | 196.66 | % | 160.80 | % | |||||||
As a multiple of annualized net charge offs | 1.67 | 1.88 | 2.08 | 1.73 | |||||||||||
Allowance for credit losses: | |||||||||||||||
As a percentage of period-end noncovered loans | 1.26 | % | 1.51 | % | 1.26 | % | 1.51 | % | |||||||
As a percentage of nonperforming noncovered loans | 208.11 | % | 170.16 | % | 208.11 | % | 170.16 | % | |||||||
As a multiple of annualized net charge offs | 1.77 | 1.99 | 2.20 | 1.83 |
At September 30, 2012 | |||||||||||||||||||||||||||||||
Loan Type | |||||||||||||||||||||||||||||||
Allowance for Loan Losses Components: | C&I | CRE and Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||
Individually Impaired Loan Component: | |||||||||||||||||||||||||||||||
Loan balance | $ | 9,994 | $ | 32,549 | $ | — | $ | 32,577 | $ | 6,922 | $ | 1,767 | $ | 24,569 | $ | 108,378 | |||||||||||||||
Allowance | 2,900 | 2,070 | — | 1,674 | 95 | 106 | 1,599 | 8,444 | |||||||||||||||||||||||
Collective Loan Impairment Components: | |||||||||||||||||||||||||||||||
Credit risk-graded loans | |||||||||||||||||||||||||||||||
Grade 1 loan balance | 37,327 | — | 13,785 | 51,112 | |||||||||||||||||||||||||||
Grade 1 allowance | 16 | — | 6 | 22 | |||||||||||||||||||||||||||
Grade 2 loan balance | 105,504 | 3,170 | 190 | 108,864 | |||||||||||||||||||||||||||
Grade 2 allowance | 96 | 5 | — | 101 | |||||||||||||||||||||||||||
Grade 3 loan balance | 573,561 | 297,329 | 8,857 | 879,747 | |||||||||||||||||||||||||||
Grade 3 allowance | 749 | 939 | 16 | 1,704 | |||||||||||||||||||||||||||
Grade 4 loan balance | 2,215,334 | 2,012,160 | 87,259 | 4,314,753 | |||||||||||||||||||||||||||
Grade 4 allowance | 23,035 | 15,991 | 430 | 39,456 | |||||||||||||||||||||||||||
Grade 5 (Special Mention) loan balance | 60,803 | 56,802 | 514 | 118,119 | |||||||||||||||||||||||||||
Grade 5 allowance | 3,068 | 2,441 | 20 | 5,529 | |||||||||||||||||||||||||||
Grade 6 (Substandard) loan balance | 46,706 | 60,437 | 333 | 107,476 | |||||||||||||||||||||||||||
Grade 6 allowance | 9,295 | 8,536 | 34 | 17,865 | |||||||||||||||||||||||||||
Grade 7 (Doubtful) loan balance | — | — | — | — | |||||||||||||||||||||||||||
Grade 7 allowance | — | — | — | — | |||||||||||||||||||||||||||
Consumer loans based on payment status: | |||||||||||||||||||||||||||||||
Current loan balances | 1,272,397 | 779,494 | 139,909 | 397,628 | 2,589,428 | ||||||||||||||||||||||||||
Current loans allowance | 7,657 | 3,496 | 4,916 | 2,364 | 18,433 | ||||||||||||||||||||||||||
30 days past due loan balance | 8,234 | 1,683 | 957 | 10,672 | 21,546 | ||||||||||||||||||||||||||
30 days past due allowance | 664 | 310 | 589 | 473 | 2,036 | ||||||||||||||||||||||||||
60 days past due loan balance | 3,193 | 462 | 506 | 2,159 | 6,320 | ||||||||||||||||||||||||||
60 days past due allowance | 675 | 189 | 530 | 410 | 1,804 | ||||||||||||||||||||||||||
90+ days past due loan balance | 4,681 | 1,181 | 780 | 4,035 | 10,677 | ||||||||||||||||||||||||||
90+ days past due allowance | 1,165 | 795 | 1,094 | 494 | 3,548 | ||||||||||||||||||||||||||
Total loans | $ | 3,049,229 | $ | 2,462,447 | $ | 110,938 | $ | 1,321,082 | $ | 789,742 | $ | 143,919 | $ | 439,063 | $ | 8,316,420 | |||||||||||||||
Total Allowance for Loan Losses | $ | 39,159 | $ | 29,982 | $ | 506 | $ | 11,835 | $ | 4,885 | $ | 7,235 | $ | 5,340 | $ | 98,942 |
At December 31, 2011 | |||||||||||||||||||||||||||||||
Loan Type | |||||||||||||||||||||||||||||||
Allowance for Loan Losses Components: | C&I | CRE and Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||
Individually Impaired Loan Component: | |||||||||||||||||||||||||||||||
Loan balance | $ | 8,269 | $ | 45,407 | $ | — | $ | 33,571 | $ | 4,763 | $ | 2,202 | $ | 17,398 | $ | 111,610 | |||||||||||||||
Allowance | 2,497 | 1,698 | — | 1,382 | 31 | 108 | 1,364 | 7,080 | |||||||||||||||||||||||
Collective Loan Impairment Components: | |||||||||||||||||||||||||||||||
Credit risk-graded loans | |||||||||||||||||||||||||||||||
Grade 1 loan balance | 37,607 | — | 10,636 | 48,243 | |||||||||||||||||||||||||||
Grade 1 allowance | 15 | — | 6 | 21 | |||||||||||||||||||||||||||
Grade 2 loan balance | 122,124 | 4,833 | — | 126,957 | |||||||||||||||||||||||||||
Grade 2 allowance | 117 | 12 | — | 129 | |||||||||||||||||||||||||||
Grade 3 loan balance | 479,119 | 268,005 | 5,868 | 752,992 | |||||||||||||||||||||||||||
Grade 3 allowance | 756 | 1,015 | 9 | 1,780 | |||||||||||||||||||||||||||
Grade 4 loan balance | 1,999,707 | 1,844,851 | 57,026 | 3,901,584 | |||||||||||||||||||||||||||
Grade 4 allowance | 17,643 | 16,968 | 326 | 34,937 | |||||||||||||||||||||||||||
Grade 5 (Special Mention) loan balance | 50,789 | 63,525 | — | 114,314 | |||||||||||||||||||||||||||
Grade 5 allowance | 2,226 | 2,841 | — | 5,067 | |||||||||||||||||||||||||||
Grade 6 (Substandard) loan balance | 77,861 | 105,387 | — | 183,248 | |||||||||||||||||||||||||||
Grade 6 allowance | 9,109 | 14,496 | — | 23,605 | |||||||||||||||||||||||||||
Grade 7 (Doubtful) loan balance | — | 263 | — | 263 | |||||||||||||||||||||||||||
Grade 7 allowance | — | — | — | — | |||||||||||||||||||||||||||
Consumer loans based on payment status: | |||||||||||||||||||||||||||||||
Current loan balances | 1,210,007 | 734,505 | 141,338 | 372,710 | 2,458,560 | ||||||||||||||||||||||||||
Current loans allowance | 12,286 | 4,619 | 5,158 | 3,045 | 25,108 | ||||||||||||||||||||||||||
30 days past due loan balance | 11,531 | 2,694 | 1,090 | 11,778 | 27,093 | ||||||||||||||||||||||||||
30 days past due allowance | 1,333 | 623 | 529 | 498 | 2,983 | ||||||||||||||||||||||||||
60 days past due loan balance | 3,388 | 778 | 707 | 2,059 | 6,932 | ||||||||||||||||||||||||||
60 days past due allowance | 1,104 | 442 | 530 | 315 | 2,391 | ||||||||||||||||||||||||||
90+ days past due loan balance | 5,168 | 1,242 | 1,019 | 9,719 | 17,148 | ||||||||||||||||||||||||||
90+ days past due allowance | 1,876 | 1,051 | 1,044 | 627 | 4,598 | ||||||||||||||||||||||||||
Total loans | $ | 2,775,476 | $ | 2,332,271 | $ | 73,530 | $ | 1,263,665 | $ | 743,982 | $ | 146,356 | $ | 413,664 | $ | 7,748,944 | |||||||||||||||
Total Allowance for Loan Losses | $ | 32,363 | $ | 37,030 | $ | 341 | $ | 17,981 | $ | 6,766 | $ | 7,369 | $ | 5,849 | $ | 107,699 |
September 30, 2011 | |||||||||||||||||||||||||||||||
Loan Type | |||||||||||||||||||||||||||||||
Allowance for Loan Losses Components: | C&I | CRE and Construction | Leases | Installment | Home Equity Lines | Credit Cards | Residential Mortgages | Total | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||
Individually Impaired Loan Component: | |||||||||||||||||||||||||||||||
Loan balance | $ | 4,271 | $ | 51,077 | $ | — | $ | 34,654 | $ | 4,413 | $ | 2,356 | $ | 16,316 | $ | 113,087 | |||||||||||||||
Allowance | 256 | 3,328 | — | 1,568 | 52 | 121 | 1,346 | 6,671 | |||||||||||||||||||||||
Collective Loan Impairment Components: | |||||||||||||||||||||||||||||||
Credit risk-graded loans | |||||||||||||||||||||||||||||||
Grade 1 loan balance | 48,173 | 12,728 | — | 60,901 | |||||||||||||||||||||||||||
Grade 1 allowance | 15 | — | 4 | 19 | |||||||||||||||||||||||||||
Grade 2 loan balance | 100,058 | 4,463 | — | 104,521 | |||||||||||||||||||||||||||
Grade 2 allowance | 116 | 12 | — | 128 | |||||||||||||||||||||||||||
Grade 3 loan balance | 487,020 | 265,791 | 4,219 | 757,030 | |||||||||||||||||||||||||||
Grade 3 allowance | 871 | 1,155 | 7 | 2,033 | |||||||||||||||||||||||||||
Grade 4 loan balance | 1,973,312 | 1,796,912 | 53,771 | 3,823,995 | |||||||||||||||||||||||||||
Grade 4 allowance | 20,482 | 17,728 | 314 | 38,524 | |||||||||||||||||||||||||||
Grade 5 (Special Mention) loan balance | 49,411 | 78,198 | — | 127,609 | |||||||||||||||||||||||||||
Grade 5 allowance | 3,153 | 3,826 | — | 6,979 | |||||||||||||||||||||||||||
Grade 6 (Substandard) loan balance | 40,013 | 106,762 | 2 | 146,777 | |||||||||||||||||||||||||||
Grade 6 allowance | 5,445 | 14,067 | — | 19,512 | |||||||||||||||||||||||||||
Grade 7 (Doubtful) loan balance | — | 668 | — | 668 | |||||||||||||||||||||||||||
Grade 7 allowance | — | — | — | — | |||||||||||||||||||||||||||
Consumer loans based on payment status: | |||||||||||||||||||||||||||||||
Current loan balances | 1,220,076 | 735,364 | 137,815 | 363,685 | 2,456,940 | ||||||||||||||||||||||||||
Current loans allowance | 13,528 | 4,496 | 5,889 | 3,052 | 26,965 | ||||||||||||||||||||||||||
30 days past due loan balance | 7,918 | 1,994 | 1,123 | 9,765 | 20,800 | ||||||||||||||||||||||||||
30 days past due allowance | 1,098 | 542 | 625 | 538 | 2,803 | ||||||||||||||||||||||||||
60 days past due loan balance | 3,728 | 721 | 676 | 1,751 | 6,876 | ||||||||||||||||||||||||||
60 days past due allowance | 1,251 | 399 | 544 | 287 | 2,481 | ||||||||||||||||||||||||||
90+ days past due loan balance | 4,951 | 885 | 740 | 5,792 | 12,368 | ||||||||||||||||||||||||||
90+ days past due allowance | 878 | 754 | 817 | 623 | 3,072 | ||||||||||||||||||||||||||
Total loans | $ | 2,702,258 | $ | 2,316,599 | $ | 57,992 | $ | 1,271,327 | $ | 743,377 | $ | 142,710 | $ | 397,309 | $ | 7,631,572 | |||||||||||||||
Total Allowance for Loan Losses | $ | 30,338 | $ | 40,116 | $ | 325 | $ | 18,323 | $ | 6,243 | $ | 7,996 | $ | 5,846 | $ | 109,187 |
• | Nonaccrual loans on which interest is no longer accrued because its collection is doubtful. |
• | Restructured loans on which, due to deterioration in the borrower’s financial condition, the original terms have been modified in favor of the borrower or either principal or interest has been forgiven. |
• | Nonaccrual loans on which interest is no longer accrued because its collection is doubtful. |
• | Restructured loans on which, due to deterioration in the borrower’s financial condition, the original terms have been modified in favor of the borrower or either principal or interest has been forgiven. |
• | Other real estate (“ORE”) acquired through foreclosure in satisfaction of a loan. |
(Dollars in thousands) | September 30, 2012 | December 31, 2011 | September 30, 2011 | ||||||||
Nonperforming noncovered loans: | |||||||||||
Restructured nonaccrual noncovered loans: | |||||||||||
Commercial loans | $ | 5,218 | $ | 8,311 | $ | 4,940 | |||||
Consumer loans | 14,106 | 3,465 | 2,433 | ||||||||
Total restructured loans | 19,324 | 11,776 | 7,373 | ||||||||
Other nonaccrual noncovered loans: | |||||||||||
Commercial loans | 26,274 | 47,504 | 54,992 | ||||||||
Consumer loans | 4,713 | 5,351 | 5,538 | ||||||||
Total nonaccrual loans | 30,987 | 52,855 | 60,530 | ||||||||
Total nonperforming noncovered loans | 50,311 | 64,631 | 67,903 | ||||||||
Other noncovered real estate | 13,744 | 16,463 | 22,172 | ||||||||
Total nonperforming noncovered assets | $ | 64,055 | $ | 81,094 | $ | 90,075 | |||||
Noncovered loans past due 90 days or more accruing interest | $ | 9,691 | $ | 11,376 | $ | 4,403 | |||||
Total nonperforming noncovered assets as a percentage of total noncovered loans and ORE | 0.77 | % | 1.05 | % | 1.18 | % |
Three Months Ended | |||||||||||||||||||
September 30, 2012 | June 30, 2012 | March 31, 2012 | December 31, 2011 | September 30, 2011 | |||||||||||||||
Nonaccrual noncovered commercial loans beginning of period | $ | 38,381 | $ | 44,546 | $ | 55,815 | $ | 59,932 | $ | 63,688 | |||||||||
Credit Actions: | |||||||||||||||||||
New | 25,182 | 10,091 | 5,980 | 11,402 | 9,232 | ||||||||||||||
Loan and lease losses | (400 | ) | (6,675 | ) | (3,296 | ) | (648 | ) | (5,047 | ) | |||||||||
Charged down | (9,227 | ) | (266 | ) | (3,703 | ) | (6,769 | ) | (3,987 | ) | |||||||||
Return to accruing status | (2,177 | ) | (1,247 | ) | (1,990 | ) | (119 | ) | (38 | ) | |||||||||
Payments | (20,267 | ) | (8,068 | ) | (8,260 | ) | (7,983 | ) | (3,916 | ) | |||||||||
Nonaccrual noncovered commercial loans end of period | $ | 31,492 | $ | 38,381 | $ | 44,546 | $ | 55,815 | $ | 59,932 |
Three Months Ended | ||||||||||||||||||||
September 30, 2012 | December 31, 2011 | September 30, 2011 | ||||||||||||||||||
Average Balance | Average Rate | Average Balance | Average Rate | Average Balance | Average Rate | |||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Noninterest-bearing | $ | 3,236,703 | — | $ | 3,144,183 | — | $ | 2,988,521 | — | |||||||||||
Interest-bearing | 1,080,841 | 0.09 | % | 1,060,771 | 0.09 | % | 913,252 | 0.09 | % | |||||||||||
Savings and money market accounts | 5,746,210 | 0.36 | % | 5,732,007 | 0.35 | % | 5,446,351 | 0.50 | % | |||||||||||
Certificates and other time deposits | 1,528,177 | 0.71 | % | 1,618,322 | 0.79 | % | 2,099,558 | 0.83 | % | |||||||||||
Total customer deposits | 11,591,931 | 0.28 | % | 11,555,283 | 0.29 | % | 11,447,682 | 0.40 | % | |||||||||||
Securities sold under agreements to repurchase | 1,032,401 | 0.12 | % | 920,352 | 0.12 | % | 969,020 | 0.40 | % | |||||||||||
Wholesale borrowings | 178,022 | 2.53 | % | 177,987 | 2.53 | % | 320,691 | 2.06 | % | |||||||||||
Total funds | $ | 12,802,354 | $ | 12,653,622 | $ | 12,737,393 |
Amount | |||
Time until maturity: | (In thousands) | ||
Under 3 months | $ | 126,357 | |
3 to 6 months | 110,978 | ||
6 to 12 months | 172,281 | ||
Over 1 year through 3 years | 92,916 | ||
Over 3 years | 20,711 | ||
$ | 523,243 | ||
September 30, 2012 | December 31, 2011 | September 30, 2011 | ||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Consolidated | ||||||||||||||||||||
Total equity | $ | 1,624,704 | 11.11 | % | $ | 1,565,953 | 10.84 | % | $ | 1,570,654 | 10.69 | % | ||||||||
Common equity | 1,624,704 | 11.11 | % | 1,565,953 | 10.84 | % | 1,570,654 | 10.69 | % | |||||||||||
Tangible common equity (a) | 1,157,843 | 8.18 | % | 1,097,670 | 7.86 | % | 1,101,828 | 7.75 | % | |||||||||||
Tier 1 capital (b) | 1,170,095 | 11.37 | % | 1,119,892 | 11.48 | % | 1,104,869 | 11.02 | % | |||||||||||
Total risk-based capital (c) | 1,298,944 | 12.63 | % | 1,242,177 | 12.73 | % | 1,230,519 | 12.27 | % | |||||||||||
Leverage (d) | 1,170,095 | 8.25 | % | 1,119,892 | 7.95 | % | 1,104,869 | 7.86 | % | |||||||||||
Bank Only | ||||||||||||||||||||
Total equity | $ | 1,565,513 | 10.71 | % | $ | 1,483,743 | 10.29 | % | $ | 1,487,926 | 10.14 | % | ||||||||
Common equity | 1,565,513 | 10.71 | % | 1,483,743 | 10.29 | % | 1,487,926 | 10.14 | % | |||||||||||
Tangible common equity (a) | 1,098,652 | 7.77 | % | 1,015,460 | 7.28 | % | 1,019,100 | 7.18 | % | |||||||||||
Tier 1 capital (b) | 1,106,099 | 10.77 | % | 1,033,171 | 10.62 | % | 1,017,738 | 10.17 | % | |||||||||||
Total risk-based capital (c) | 1,229,922 | 11.98 | % | 1,150,675 | 11.82 | % | 1,138,725 | 11.38 | % | |||||||||||
Leverage (d) | 1,106,099 | 7.81 | % | 1,033,171 | 7.35 | % | 1,017,738 | 7.26 | % |
(a) | Common equity less all intangibles; computed as a ratio to total assets less intangible assets. |
(b) | Shareholders' equity less goodwill; computed as a ratio to risk-adjusted assets, as defined in the 1992 risk-based capital guidelines. |
(c) | Tier 1 capital plus qualifying loan loss allowance, computed as a ratio to risk adjusted assets as defined in the 1992 risk-based capital guidelines. |
(d) | Tier 1 capital computed as a ratio to the latest quarter's average assets less goodwill. |
Immediate Change in Rates and Resulting Percentage Increase/(Decrease) in Net Interest Income: | |||||||||||
- 100 basis points | + 100 basis points | + 200 basis points | + 300 basis points | ||||||||
September 30, 2012 | (7.65 | )% | 3.40 | % | 5.80 | % | 7.70 | % | |||
September 30, 2011 | (3.06 | )% | 2.79 | % | 3.92 | % | 4.81 | % |
Immediate Change in Rates and Resulting Percentage Increase/(Decrease) in EVE: | ||||||||||||
- 100 basis points | + 100 basis points | + 200 basis points | + 300 basis points | |||||||||
September 30, 2012 | (3.02 | )% | 1.66 | % | 1.74 | % | 0.45 | % | ||||
September 30, 2011 | 0.18 | % | 4.77 | % | 7.01 | % | 7.89 | % |
ITEM 3. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
ITEM 4. | CONTROLS AND PROCEDURES. |
ITEM 1. | LEGAL PROCEEDINGS. |
ITEM 1A. | RISK FACTORS. |
ITEM 2. | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS. |
Total Number of Shares Purchased (1) | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2) | Maximum Number of Shares that May Yet Be Purchased Under Plans or Programs (2) | |||||||||
Balances as of December 31, 2011 | 396,272 | |||||||||||
July 1, 2012 - July 31, 2012 | 248 | $ | 24.63 | — | 396,272 | |||||||
August 1, 2012 - August 31, 2012 | 936 | 16.49 | — | 396,272 | ||||||||
September 1, 2012 - September 30, 2012 | 4,953 | 19.61 | — | 396,272 | ||||||||
Balances as of September 30, 2012 | 6,137 | $ | 19.34 | — | 396,272 |
(1) | Reflects 6,137 shares of common stock purchased as a result of either: (1) delivered by the option holder with respect to the exercise of stock options; (2) shares withheld to pay income taxes or other tax liabilities associated with vested restricted shares of common stock; or (3) shares returned upon the resignation of the restricted shareholder. No shares were purchased under the program referred to in note (2) to this table during the third quarter of 2012. |
(2) | On January 19, 2006, the Board of Directors authorized the repurchase of up to 3 million shares of common stock (the “New Repurchase Plan”). The New Repurchase Plan, which has no expiration date, superseded all other repurchase programs, including that authorized by the Board of Directors on July 15, 2004. |
ITEM 3. | DEFAULTS UPON SENIOR SECURITIES. |
ITEM 4. | MINE SAFETY DISCLOSURES. |
ITEM 5. | OTHER INFORMATION. |
ITEM 6. | EXHIBITS. |
Exhibit Number | ||
2.1 | Agreement and Plan of Merger, dated September 12, 2012, by and between FirstMerit Corporation and Citizens Republic Bancorp, Inc. (incorporated by reference from Exhibit 2.1 to the Current Report on Form 8-K filed by FirstMerit Corporation on September 13, 2012). | |
3.1 | Second Amended and Restated Articles of Incorporation of FirstMerit Corporation, as amended (incorporated by reference from Exhibit 3.1 to the Quarterly Report on Form 10-Q for the quarter ended March 31, 2010 (File No. 000-10161) filed by FirstMerit Corporation on May 10, 2010). | |
3.2 | Second Amended and Restated Code of Regulations of FirstMerit Corporation, as amended (incorporated by reference from Exhibit 3.2 to the Quarterly Report on Form 10-Q for the quarter ended March 31, 2010 (File No. 000-10161) filed by FirstMerit Corporation on May 10, 2010). | |
10.1 | Transition and Retirement Agreement, dated August 31, 2012, by and between FirstMerit Bank, N.A. and Larry A.Shoff. | |
10.53 | FirstMerit Corporation Form of Indemnification Agreement with Officers and Directors. | |
31.1 | Rule 13a-14(a)/Section 302 Certification of Paul G. Greig, Chief Executive Officer of FirstMerit Corporation. | |
31.2 | Rule 13a-14(a)/Section 302 Certification of Terrence E. Bichsel, Executive Vice President and Chief Financial Officer of FirstMerit Corporation. | |
32.1 | Rule 13a-14(b)/Section 906 Certification of Paul G. Greig, Chief Executive Officer of FirstMerit Corporation. | |
32.2 | Rule 13a-14(b)/Section 906 Certification of Terrence E. Bichsel, Executive Vice President and Chief Financial Officer of FirstMerit Corporation. | |
101 | The following materials from FirstMerit Corporation’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2012, formatted in XBRL (Extensible Business Reporting Language): (i) the Consolidated Balance Sheets; (ii) the Consolidated Statements of Comprehensive Income; (iii) the Consolidated Statements of Changes in Shareholders’ Equity; (iv) the Consolidated Statements of Cash Flows; and (iv) Notes to Consolidated Financial Statements. |
FIRSTMERIT CORPORATION | ||
By: | /s/ TERRENCE E. BICHSEL | |
Terrence E. Bichsel, Executive Vice President and Chief Financial Officer (duly authorized officer of registrant and principal financial officer) |
[1] | The events leading to this Agreement and the facts, terms, existence and amount of this Agreement are confidential and shall not be disclosed by the Parties or their attorneys except as required by legal process and then only after notice is first given by the party seeking to make disclosure such that the other party will have a reasonable opportunity to oppose disclosure. The Parties and their counsel agree that they will exercise their best efforts to cause their attorneys, representatives and other agents to maintain the confidentiality and terms and provisions of this Agreement. The Parties |
[2] | The Parties and their counsel agree not to disclose to any person, including any members of the press or any other media or in any non-judicial public or private forum, any information concerning the terms, facts, existence and amount of this Agreement; and |
[3] | The Parties represent and agree that they have not disclosed the facts, terms, existence or amount of this Agreement to anyone other than their attorneys, spouses or financial advisors. |
By: /s/ Christopher J. Maurer Christopher J. Maurer | Date signed:August 31, 2012 |
Title: Executive Vice President Human Resources |
By: /s/ Larry A. Shoff Larry A. Shoff | Date signed:August 31, 2012 |
By: ___________________ | Date signed: |
Title:________________________________ |
By: Larry A. Shoff | Date signed: |
1. | I have reviewed this quarterly report on Form 10-Q of FirstMerit Corporation; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b. | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c. | Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d. | Disclosed in this report any change in the registrant's internal control over financial reporting that has occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and |
5. | The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): |
a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and |
b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |
Dated: | November 2, 2012 | By: | /s/ Paul G. Greig |
Printed Name: | Paul G. Greig | ||
Title: | Chairman, President and Chief Executive Officer |
1. | I have reviewed this quarterly report on Form 10-Q of FirstMerit Corporation; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b. | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c. | Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d. | Disclosed in this report any change in the registrant's internal control over financial reporting that has occurred during the most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and |
5. | The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): |
a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and |
b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |
Dated: | November 2, 2012 | By: | /s/ Terrence E. Bichsel |
Printed Name: | Terrence E. Bichsel | ||
Title: | Executive Vice President and Chief Financial Officer |
Dated: | November 2, 2012 | By: | /s/ Paul G. Greig | |
Chairman, President and Chief Executive Officer | ||||
Dated: | November 2, 2012 | By: | /s/ Terrence E. Bichsel | |
Executive Vice President and Chief Financial Officer | ||||
Investment Securities (Details 1) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2012
|
Dec. 31, 2011
|
Sep. 30, 2011
|
---|---|---|---|
Other investments | |||
FRB stock | $ 21,045 | $ 21,003 | $ 20,804 |
FHLB stock | 119,145 | 119,145 | 139,398 |
Other | 540 | 578 | 591 |
Total other investments | $ 140,730 | $ 140,726 | $ 160,793 |
Allowance for loan losses (Details 5) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Jun. 30, 2012
|
Dec. 31, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total | $ 166,327 | $ 129,979 | $ 166,327 | $ 129,979 | $ 150,356 | ||||||||||||||
Accruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 92,430 | 117,343 | 92,430 | 117,343 | 100,358 | ||||||||||||||
Delinquent | 54,573 | 5,263 | 54,573 | 5,263 | 38,245 | ||||||||||||||
Total | 147,003 | 122,606 | 147,003 | 122,606 | 138,603 | ||||||||||||||
Nonaccruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 12,032 | 2,880 | 12,032 | 2,880 | 5,592 | ||||||||||||||
Delinquent | 7,292 | 4,493 | 7,292 | 4,493 | 6,161 | ||||||||||||||
Total | 19,324 | 7,373 | 19,324 | 7,373 | 11,753 | ||||||||||||||
Total Tdr Allowance [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 15,365 | 6,881 | 15,365 | 6,881 | 12,114 | ||||||||||||||
Noncovered Loans [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total | 23,753 | 12,607 | 23,753 | 12,607 | 15,002 | ||||||||||||||
Total Allowance | 98,942 | 109,187 | 98,942 | 109,187 | 103,849 | 107,699 | 109,187 | 114,690 | |||||||||||
Financing Receivable, Allowance for Credit Losses, Charge-offs | (20,999) | (20,014) | (53,430) | (63,784) | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Recoveries | 6,127 | 5,410 | 17,813 | 16,521 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Provisions | 9,965 | 14,604 | 26,860 | 41,760 | |||||||||||||||
Noncovered Loans [Member] | Accruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 16,071 | 7,667 | 16,071 | 7,667 | 6,178 | ||||||||||||||
Delinquent | 2,464 | 0 | 2,464 | 0 | 513 | ||||||||||||||
Total | 18,535 | 7,667 | 18,535 | 7,667 | 6,691 | ||||||||||||||
Noncovered Loans [Member] | Nonaccruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 1,408 | 1,395 | 1,408 | 1,395 | 3,894 | ||||||||||||||
Delinquent | 3,810 | 3,545 | 3,810 | 3,545 | 4,417 | ||||||||||||||
Total | 5,218 | 4,940 | 5,218 | 4,940 | 8,311 | ||||||||||||||
Noncovered Loans [Member] | Total Tdr Allowance [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 644 | 1,112 | 644 | 1,112 | 582 | ||||||||||||||
Noncovered Loans [Member] | Commercial and Industrial Financing Receivable [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total | 2,413 | 1,096 | 2,413 | 1,096 | 2,512 | ||||||||||||||
Noncovered Loans [Member] | Commercial and Industrial Financing Receivable [Member] | Accruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 955 | 129 | 955 | 129 | 91 | ||||||||||||||
Delinquent | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Total | 955 | 129 | 955 | 129 | 91 | ||||||||||||||
Noncovered Loans [Member] | Commercial and Industrial Financing Receivable [Member] | Nonaccruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 865 | 0 | 865 | 0 | 0 | ||||||||||||||
Delinquent | 593 | 967 | 593 | 967 | 2,421 | ||||||||||||||
Total | 1,458 | 967 | 1,458 | 967 | 2,421 | ||||||||||||||
Noncovered Loans [Member] | Commercial and Industrial Financing Receivable [Member] | Total Tdr Allowance [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 126 | 215 | 126 | 215 | 247 | ||||||||||||||
Noncovered Loans [Member] | Commercial Real Estate [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total | 17,763 | 8,068 | 17,763 | 8,068 | 9,167 | ||||||||||||||
Noncovered Loans [Member] | Commercial Real Estate [Member] | Accruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 11,609 | 4,778 | 11,609 | 4,778 | 3,305 | ||||||||||||||
Delinquent | 2,464 | 0 | 2,464 | 0 | 513 | ||||||||||||||
Total | 14,073 | 4,778 | 14,073 | 4,778 | 3,818 | ||||||||||||||
Noncovered Loans [Member] | Commercial Real Estate [Member] | Nonaccruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 473 | 1,215 | 473 | 1,215 | 3,590 | ||||||||||||||
Delinquent | 3,217 | 2,075 | 3,217 | 2,075 | 1,759 | ||||||||||||||
Total | 3,690 | 3,290 | 3,690 | 3,290 | 5,349 | ||||||||||||||
Noncovered Loans [Member] | Commercial Real Estate [Member] | Total Tdr Allowance [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 401 | 125 | 401 | 125 | 236 | ||||||||||||||
Noncovered Loans [Member] | Commercial Real Estate Construction Financing Receivable [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total | 3,577 | 3,443 | 3,577 | 3,443 | 3,323 | ||||||||||||||
Noncovered Loans [Member] | Commercial Real Estate Construction Financing Receivable [Member] | Accruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 3,507 | 2,760 | 3,507 | 2,760 | 2,782 | ||||||||||||||
Delinquent | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Total | 3,507 | 2,760 | 3,507 | 2,760 | 2,782 | ||||||||||||||
Noncovered Loans [Member] | Commercial Real Estate Construction Financing Receivable [Member] | Nonaccruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 70 | 180 | 70 | 180 | 304 | ||||||||||||||
Delinquent | 0 | 503 | 0 | 503 | 237 | ||||||||||||||
Total | 70 | 683 | 70 | 683 | 541 | ||||||||||||||
Noncovered Loans [Member] | Commercial Real Estate Construction Financing Receivable [Member] | Total Tdr Allowance [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 117 | 772 | 117 | 772 | 99 | ||||||||||||||
Noncovered Consumer Loans [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total | 65,835 | 57,742 | 65,835 | 57,742 | 57,934 | ||||||||||||||
Noncovered Consumer Loans [Member] | Accruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 47,039 | 51,281 | 47,039 | 51,281 | 51,672 | ||||||||||||||
Delinquent | 4,690 | 4,028 | 4,690 | 4,028 | 2,820 | ||||||||||||||
Total | 51,729 | 55,309 | 51,729 | 55,309 | 54,492 | ||||||||||||||
Noncovered Consumer Loans [Member] | Nonaccruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 10,624 | 1,485 | 10,624 | 1,485 | 1,698 | ||||||||||||||
Delinquent | 3,482 | 948 | 3,482 | 948 | 1,744 | ||||||||||||||
Total | 14,106 | 2,433 | 14,106 | 2,433 | 3,442 | ||||||||||||||
Noncovered Consumer Loans [Member] | Total Tdr Allowance [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 3,474 | 3,087 | 3,474 | 3,087 | 2,885 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Installment [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total | 32,577 | 34,654 | 32,577 | 34,654 | 33,571 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Installment [Member] | Accruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 28,604 | 32,882 | 28,604 | 32,882 | 31,637 | ||||||||||||||
Delinquent | 1,071 | 1,772 | 1,071 | 1,772 | 1,800 | ||||||||||||||
Total | 29,675 | 34,654 | 29,675 | 34,654 | 33,437 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Installment [Member] | Nonaccruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 2,882 | 0 | 2,882 | 0 | 0 | ||||||||||||||
Delinquent | 20 | 0 | 20 | 0 | 134 | ||||||||||||||
Total | 2,902 | 0 | 2,902 | 0 | 134 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Installment [Member] | Total Tdr Allowance [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 1,674 | 1,568 | 1,674 | 1,568 | 1,382 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Home Equity Lines Financing Receivable [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total | 6,922 | 4,413 | 6,922 | 4,413 | 4,763 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Home Equity Lines Financing Receivable [Member] | Accruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 5,394 | 3,885 | 5,394 | 3,885 | 4,226 | ||||||||||||||
Delinquent | 171 | 528 | 171 | 528 | 222 | ||||||||||||||
Total | 5,565 | 4,413 | 5,565 | 4,413 | 4,448 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Home Equity Lines Financing Receivable [Member] | Nonaccruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 1,131 | 0 | 1,131 | 0 | 76 | ||||||||||||||
Delinquent | 226 | 0 | 226 | 0 | 239 | ||||||||||||||
Total | 1,357 | 0 | 1,357 | 0 | 315 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Home Equity Lines Financing Receivable [Member] | Total Tdr Allowance [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 95 | 52 | 95 | 52 | 31 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Credit Card Financing Receivable [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total | 1,767 | 2,359 | 1,767 | 2,359 | 2,202 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Credit Card Financing Receivable [Member] | Accruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 1,655 | 2,201 | 1,655 | 2,201 | 2,073 | ||||||||||||||
Delinquent | 109 | 158 | 109 | 158 | 110 | ||||||||||||||
Total | 1,764 | 2,359 | 1,764 | 2,359 | 2,183 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Credit Card Financing Receivable [Member] | Nonaccruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Delinquent | 3 | 0 | 3 | 0 | 19 | ||||||||||||||
Total | 3 | 0 | 3 | 0 | 19 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Credit Card Financing Receivable [Member] | Total Tdr Allowance [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 106 | 121 | 106 | 121 | 108 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Residential Mortgages Financing Receivable [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total | 24,569 | 16,316 | 24,569 | 16,316 | 17,398 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Residential Mortgages Financing Receivable [Member] | Accruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 11,386 | 12,313 | 11,386 | 12,313 | 13,736 | ||||||||||||||
Delinquent | 3,339 | 1,570 | 3,339 | 1,570 | 688 | ||||||||||||||
Total | 14,725 | 13,883 | 14,725 | 13,883 | 14,424 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Residential Mortgages Financing Receivable [Member] | Nonaccruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 6,611 | 1,485 | 6,611 | 1,485 | 1,622 | ||||||||||||||
Delinquent | 3,233 | 948 | 3,233 | 948 | 1,352 | ||||||||||||||
Total | 9,844 | 2,433 | 9,844 | 2,433 | 2,974 | ||||||||||||||
Noncovered Consumer Loans [Member] | Consumer Residential Mortgages Financing Receivable [Member] | Total Tdr Allowance [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 1,599 | 1,346 | 1,599 | 1,346 | 1,364 | ||||||||||||||
Covered Loans [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 732,470 | [1] | 1,061,263 | [2] | 732,470 | [1] | 1,061,263 | [2] | 954,689 | [3] | |||||||||
Delinquent | 310,588 | [1] | 365,484 | [2] | 310,588 | [1] | 365,484 | [2] | 336,787 | [3] | |||||||||
Total | 71,997 | 59,630 | 71,997 | 59,630 | 77,420 | ||||||||||||||
Covered Loans [Member] | Accruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 24,622 | 58,395 | 24,622 | 58,395 | 42,508 | ||||||||||||||
Delinquent | 47,375 | 1,235 | 47,375 | 1,235 | 34,912 | ||||||||||||||
Total | 71,997 | 59,630 | 71,997 | 59,630 | 77,420 | ||||||||||||||
Covered Loans [Member] | Nonaccruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Delinquent | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Total | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Covered Loans [Member] | Total Tdr Allowance [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 11,247 | 2,682 | 11,247 | 2,682 | 8,647 | ||||||||||||||
Covered Loans [Member] | Commercial and Industrial Financing Receivable [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total | 5,278 | 7,287 | 5,278 | 7,287 | 7,578 | ||||||||||||||
Covered Loans [Member] | Commercial and Industrial Financing Receivable [Member] | Accruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 1,000 | 6,052 | 1,000 | 6,052 | 1,587 | ||||||||||||||
Delinquent | 4,278 | 1,235 | 4,278 | 1,235 | 5,991 | ||||||||||||||
Total | 5,278 | 7,287 | 5,278 | 7,287 | 7,578 | ||||||||||||||
Covered Loans [Member] | Commercial and Industrial Financing Receivable [Member] | Nonaccruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Delinquent | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Total | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Covered Loans [Member] | Commercial and Industrial Financing Receivable [Member] | Total Tdr Allowance [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 1,527 | 746 | 1,527 | 746 | 1,384 | ||||||||||||||
Covered Loans [Member] | Commercial Real Estate [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total | 52,080 | 41,403 | 52,080 | 41,403 | 57,786 | ||||||||||||||
Covered Loans [Member] | Commercial Real Estate [Member] | Accruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 17,298 | 41,403 | 17,298 | 41,403 | 35,083 | ||||||||||||||
Delinquent | 34,782 | 0 | 34,782 | 0 | 22,703 | ||||||||||||||
Total | 52,080 | 41,403 | 52,080 | 41,403 | 57,786 | ||||||||||||||
Covered Loans [Member] | Commercial Real Estate [Member] | Nonaccruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Delinquent | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Total | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Covered Loans [Member] | Commercial Real Estate [Member] | Total Tdr Allowance [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 8,088 | 1,542 | 8,088 | 1,542 | 6,567 | ||||||||||||||
Covered Loans [Member] | Commercial Real Estate Construction Financing Receivable [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total | 14,639 | 10,940 | 14,639 | 10,940 | 12,056 | ||||||||||||||
Covered Loans [Member] | Commercial Real Estate Construction Financing Receivable [Member] | Accruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 6,324 | 10,940 | 6,324 | 10,940 | 5,838 | ||||||||||||||
Delinquent | 8,315 | 0 | 8,315 | 0 | 6,218 | ||||||||||||||
Total | 14,639 | 10,940 | 14,639 | 10,940 | 12,056 | ||||||||||||||
Covered Loans [Member] | Commercial Real Estate Construction Financing Receivable [Member] | Nonaccruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Delinquent | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Total | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Covered Loans [Member] | Commercial Real Estate Construction Financing Receivable [Member] | Total Tdr Allowance [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 1,632 | 394 | 1,632 | 394 | 696 | ||||||||||||||
Covered Loans [Member] | Consumer Home Equity Lines Financing Receivable [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total | 4,742 | 4,742 | |||||||||||||||||
Covered Loans [Member] | Consumer Home Equity Lines Financing Receivable [Member] | Accruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 4,698 | 4,698 | |||||||||||||||||
Delinquent | 44 | 44 | |||||||||||||||||
Total | 4,742 | 4,742 | |||||||||||||||||
Covered Loans [Member] | Consumer Home Equity Lines Financing Receivable [Member] | Nonaccruing TDRs [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Current | 0 | 0 | |||||||||||||||||
Delinquent | 0 | 0 | |||||||||||||||||
Total | 0 | 0 | |||||||||||||||||
Covered Loans [Member] | Consumer Home Equity Lines Financing Receivable [Member] | Total Tdr Allowance [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 0 | 0 | |||||||||||||||||
Commercial Portfolio Segment [Member] | Noncovered Loans [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 39,159 | 30,338 | 39,159 | 30,338 | 40,327 | 32,363 | 28,366 | 29,764 | |||||||||||
Financing Receivable, Allowance for Credit Losses, Charge-offs | 8,773 | (4,528) | 19,906 | 13,517 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Recoveries | 1,408 | 540 | 3,120 | 1,254 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Provisions | 6,197 | 5,960 | 23,582 | 12,837 | |||||||||||||||
Commercial Real Estate Portfolio Segment [Member] | Noncovered Loans [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 25,178 | 33,301 | 25,178 | 33,301 | 27,186 | 31,857 | 32,946 | 32,026 | |||||||||||
Financing Receivable, Allowance for Credit Losses, Charge-offs | 727 | (3,304) | 3,496 | 7,763 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Recoveries | 180 | 6 | 825 | 54 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Provisions | (1,461) | 3,653 | (4,008) | 8,984 | |||||||||||||||
Commercial Construction Financing Receivable Portfolio Segment [Member] | Noncovered Loans [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 4,804 | 6,815 | 4,804 | 6,815 | 5,147 | 5,173 | 7,876 | 7,180 | |||||||||||
Financing Receivable, Allowance for Credit Losses, Charge-offs | 127 | (550) | 165 | 3,245 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Recoveries | 61 | 171 | 364 | 545 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Provisions | (277) | (682) | (568) | 2,335 | |||||||||||||||
Finance Leases Portfolio Segment [Member] | Noncovered Loans [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 506 | 325 | 506 | 325 | 358 | 341 | 353 | 475 | |||||||||||
Financing Receivable, Allowance for Credit Losses, Charge-offs | 0 | (651) | 0 | 778 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Recoveries | 0 | 1 | 38 | 35 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Provisions | 148 | 622 | 127 | 593 | |||||||||||||||
Installment Financing Receivable Portfolio Segment [Member] | Noncovered Loans [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 11,835 | 18,323 | 11,835 | 18,323 | 13,029 | 17,981 | 18,089 | 21,555 | |||||||||||
Financing Receivable, Allowance for Credit Losses, Charge-offs | 5,507 | (5,911) | 14,441 | 20,204 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Recoveries | 2,883 | 3,375 | 9,104 | 10,812 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Provisions | 1,430 | 2,770 | (809) | 6,160 | |||||||||||||||
Home Equity Receivable Portfolio Segment [Member] | Noncovered Loans [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 4,885 | 6,243 | 4,885 | 6,243 | 5,449 | 6,766 | 7,142 | 7,217 | |||||||||||
Financing Receivable, Allowance for Credit Losses, Charge-offs | 2,784 | (2,779) | 7,373 | 8,356 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Recoveries | 1,007 | 658 | 2,588 | 1,840 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Provisions | 1,213 | 1,222 | 2,904 | 5,542 | |||||||||||||||
Credit Card Receivables Portfolio Segment [Member] | Noncovered Loans [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 7,235 | 7,996 | 7,235 | 7,996 | 6,690 | 7,369 | 8,403 | 11,107 | |||||||||||
Financing Receivable, Allowance for Credit Losses, Charge-offs | 1,390 | (1,520) | 4,618 | 6,135 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Recoveries | 488 | 585 | 1,583 | 1,789 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Provisions | 1,447 | 528 | 2,901 | 1,235 | |||||||||||||||
Residential Portfolio Segment [Member] | Noncovered Loans [Member]
|
|||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||
Total Allowance | 5,340 | 5,846 | 5,340 | 5,846 | 5,663 | 5,849 | 6,012 | 5,366 | |||||||||||
Financing Receivable, Allowance for Credit Losses, Charge-offs | 1,691 | (771) | 3,431 | 3,786 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Recoveries | 100 | 74 | 191 | 192 | |||||||||||||||
Financing Receivable, Allowance for Credit Losses, Provisions | $ 1,268 | $ 531 | $ 2,731 | $ 4,074 | |||||||||||||||
|
Loans (Details Textual) (USD $)
|
3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Dec. 31, 2011
|
Sep. 30, 2012
Covered Loans [Member]
|
Sep. 30, 2011
Covered Loans [Member]
|
Sep. 30, 2012
Covered Loans [Member]
|
Sep. 30, 2011
Covered Loans [Member]
|
Dec. 31, 2011
Covered Loans [Member]
|
Sep. 30, 2012
Acquired Loans Noncovered [Member]
|
Dec. 31, 2011
Acquired Loans Noncovered [Member]
|
Sep. 30, 2011
Acquired Loans Noncovered [Member]
|
Sep. 30, 2012
Loss Share Receivable [Member]
|
Jun. 30, 2012
Loss Share Receivable [Member]
|
Dec. 31, 2011
Loss Share Receivable [Member]
|
Sep. 30, 2011
Loss Share Receivable [Member]
|
Jun. 30, 2011
Loss Share Receivable [Member]
|
Dec. 31, 2010
Loss Share Receivable [Member]
|
Sep. 30, 2012
Legacy Loans [Member]
|
Dec. 31, 2011
Legacy Loans [Member]
|
Sep. 30, 2011
Legacy Loans [Member]
|
Sep. 30, 2012
Consumer Loan [Member]
|
Sep. 30, 2012
Commercial Real Estate Other Receivable [Member]
Covered Loans [Member]
|
Dec. 31, 2011
Commercial Real Estate Other Receivable [Member]
Covered Loans [Member]
|
Sep. 30, 2011
Commercial Real Estate Other Receivable [Member]
Covered Loans [Member]
|
Sep. 30, 2012
Commercial Real Estate Other Receivable [Member]
Acquired Loans Noncovered [Member]
|
Dec. 31, 2011
Commercial Real Estate Other Receivable [Member]
Acquired Loans Noncovered [Member]
|
Sep. 30, 2011
Commercial Real Estate Other Receivable [Member]
Acquired Loans Noncovered [Member]
|
Sep. 30, 2012
Commercial Real Estate Other Receivable [Member]
Legacy Loans [Member]
|
Dec. 31, 2011
Commercial Real Estate Other Receivable [Member]
Legacy Loans [Member]
|
Sep. 30, 2011
Commercial Real Estate Other Receivable [Member]
Legacy Loans [Member]
|
Sep. 30, 2012
Commercial Construction Financing Receivable [Member]
Covered Loans [Member]
|
Dec. 31, 2011
Commercial Construction Financing Receivable [Member]
Covered Loans [Member]
|
Sep. 30, 2011
Commercial Construction Financing Receivable [Member]
Covered Loans [Member]
|
Sep. 30, 2012
Commercial Construction Financing Receivable [Member]
Legacy Loans [Member]
|
Dec. 31, 2011
Commercial Construction Financing Receivable [Member]
Legacy Loans [Member]
|
Sep. 30, 2011
Commercial Construction Financing Receivable [Member]
Legacy Loans [Member]
|
Sep. 30, 2012
Commercial Leases Financing Receivable [Member]
Covered Loans [Member]
|
Dec. 31, 2011
Commercial Leases Financing Receivable [Member]
Covered Loans [Member]
|
Sep. 30, 2011
Commercial Leases Financing Receivable [Member]
Covered Loans [Member]
|
Sep. 30, 2012
Commercial Leases Financing Receivable [Member]
Acquired Loans Noncovered [Member]
|
Dec. 31, 2011
Commercial Leases Financing Receivable [Member]
Acquired Loans Noncovered [Member]
|
Sep. 30, 2011
Commercial Leases Financing Receivable [Member]
Acquired Loans Noncovered [Member]
|
Sep. 30, 2012
Commercial Leases Financing Receivable [Member]
Legacy Loans [Member]
|
Dec. 31, 2011
Commercial Leases Financing Receivable [Member]
Legacy Loans [Member]
|
Sep. 30, 2011
Commercial Leases Financing Receivable [Member]
Legacy Loans [Member]
|
Sep. 30, 2012
Consumer Installment Financing Receivable [Member]
Covered Loans [Member]
|
Dec. 31, 2011
Consumer Installment Financing Receivable [Member]
Covered Loans [Member]
|
Sep. 30, 2011
Consumer Installment Financing Receivable [Member]
Covered Loans [Member]
|
Sep. 30, 2012
Consumer Installment Financing Receivable [Member]
Acquired Loans Noncovered [Member]
|
Dec. 31, 2011
Consumer Installment Financing Receivable [Member]
Acquired Loans Noncovered [Member]
|
Sep. 30, 2011
Consumer Installment Financing Receivable [Member]
Acquired Loans Noncovered [Member]
|
Sep. 30, 2012
Consumer Installment Financing Receivable [Member]
Legacy Loans [Member]
|
Dec. 31, 2011
Consumer Installment Financing Receivable [Member]
Legacy Loans [Member]
|
Sep. 30, 2011
Consumer Installment Financing Receivable [Member]
Legacy Loans [Member]
|
Sep. 30, 2012
Consumer Home Equity Lines Financing Receivable [Member]
Covered Loans [Member]
|
Dec. 31, 2011
Consumer Home Equity Lines Financing Receivable [Member]
Covered Loans [Member]
|
Sep. 30, 2011
Consumer Home Equity Lines Financing Receivable [Member]
Covered Loans [Member]
|
Sep. 30, 2012
Consumer Home Equity Lines Financing Receivable [Member]
Acquired Loans Noncovered [Member]
|
Dec. 31, 2011
Consumer Home Equity Lines Financing Receivable [Member]
Acquired Loans Noncovered [Member]
|
Sep. 30, 2011
Consumer Home Equity Lines Financing Receivable [Member]
Acquired Loans Noncovered [Member]
|
Sep. 30, 2012
Consumer Home Equity Lines Financing Receivable [Member]
Legacy Loans [Member]
|
Dec. 31, 2011
Consumer Home Equity Lines Financing Receivable [Member]
Legacy Loans [Member]
|
Sep. 30, 2011
Consumer Home Equity Lines Financing Receivable [Member]
Legacy Loans [Member]
|
Sep. 30, 2012
Consumer Credit Card Financing Receivable [Member]
Legacy Loans [Member]
|
Dec. 31, 2011
Consumer Credit Card Financing Receivable [Member]
Legacy Loans [Member]
|
Sep. 30, 2011
Consumer Credit Card Financing Receivable [Member]
Legacy Loans [Member]
|
Sep. 30, 2012
Consumer Residential Mortgages Financing Receivable [Member]
Covered Loans [Member]
|
Dec. 31, 2011
Consumer Residential Mortgages Financing Receivable [Member]
Covered Loans [Member]
|
Sep. 30, 2011
Consumer Residential Mortgages Financing Receivable [Member]
Covered Loans [Member]
|
Sep. 30, 2012
Consumer Residential Mortgages Financing Receivable [Member]
Acquired Loans Noncovered [Member]
|
Dec. 31, 2011
Consumer Residential Mortgages Financing Receivable [Member]
Acquired Loans Noncovered [Member]
|
Sep. 30, 2011
Consumer Residential Mortgages Financing Receivable [Member]
Acquired Loans Noncovered [Member]
|
Sep. 30, 2012
Consumer Residential Mortgages Financing Receivable [Member]
Legacy Loans [Member]
|
Dec. 31, 2011
Consumer Residential Mortgages Financing Receivable [Member]
Legacy Loans [Member]
|
Sep. 30, 2011
Consumer Residential Mortgages Financing Receivable [Member]
Legacy Loans [Member]
|
Sep. 30, 2012
Commercial and Industrial Financing Receivable [Member]
Covered Loans [Member]
|
Dec. 31, 2011
Commercial and Industrial Financing Receivable [Member]
Covered Loans [Member]
|
Sep. 30, 2011
Commercial and Industrial Financing Receivable [Member]
Covered Loans [Member]
|
Sep. 30, 2012
Commercial and Industrial Financing Receivable [Member]
Acquired Loans Noncovered [Member]
|
Dec. 31, 2011
Commercial and Industrial Financing Receivable [Member]
Acquired Loans Noncovered [Member]
|
Sep. 30, 2011
Commercial and Industrial Financing Receivable [Member]
Acquired Loans Noncovered [Member]
|
Sep. 30, 2012
Commercial and Industrial Financing Receivable [Member]
Legacy Loans [Member]
|
Dec. 31, 2011
Commercial and Industrial Financing Receivable [Member]
Legacy Loans [Member]
|
Sep. 30, 2011
Commercial and Industrial Financing Receivable [Member]
Legacy Loans [Member]
|
May 14, 2010
Midwest Transaction [Member]
|
Feb. 19, 2010
First Bank Branches [Member]
|
Feb. 19, 2010
George Washington [Member]
|
|||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable, Gross, Carrying Amount | $ 8,316,420,000 | [1] | $ 7,631,572,000 | [1] | $ 8,316,420,000 | [1] | $ 7,631,572,000 | [1] | $ 7,748,944,000 | [1] | $ 56,000,000 | $ 113,200,000 | $ 178,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Covered Loans and Leases Receivable Gross | 1,174,929,000 | [2] | 1,647,218,000 | [2] | 1,174,929,000 | [2] | 1,647,218,000 | [2] | 1,497,140,000 | 131,872,000 | 152,615,000 | 205,664,000 | 220,471,000 | 239,424,000 | 288,605,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | 5,800,000 | 5,800,000 | 5,800,000 | 5,800,000 | 6,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 1,800,000,000 | 275,600,000 | 177,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquired Non Impaired Loans | 162,600,000 | 162,600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,333,127,000 | 1,742,815,000 | 1,333,127,000 | 1,742,815,000 | 1,609,852,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference | 6,008,000 | 27,160,000 | 30,814,000 | 67,118,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Provision for Loan Losses Before Benefit Attributable to FDIC Loss Share Agreements | 7,698,000 | 12,992,000 | 28,177,000 | 48,657,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Benefit Attributable to FDIC Loss Share Agreements | (1,484,000) | (8,224,000) | (12,601,000) | (31,077,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans Payments Past Due | 90 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Card Loans Past Due | 120 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | 6,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 263,019,000 | [3] | 309,849,000 | [4] | 263,019,000 | [3] | 309,849,000 | [4] | 269,976,000 | [5] | 2,715,000 | 1,743,000 | 3,423,000 | 29,819,000 | 60,449,000 | 61,700,000 | 184,067,000 | [3] | 170,795,000 | [5] | 198,957,000 | [4] | 2,565,000 | 1,675,000 | 3,284,000 | 14,311,000 | 29,976,000 | 33,003,000 | 41,325,000 | [3] | 57,978,000 | [5] | 68,016,000 | [4] | 853,000 | 7,837,000 | 8,943,000 | 0 | 0 | 0 | 35,000 | [3] | 60,000 | [5] | 42,000 | [4] | 0 | 1,000 | 0 | 4,834,000 | 5,167,000 | 5,052,000 | 1,981,000 | [3] | 1,088,000 | [5] | 979,000 | [4] | 100,000 | 1,000 | 1,000 | 1,311,000 | 1,241,000 | 922,000 | 808,000 | 1,019,000 | 771,000 | 8,576,000 | [3] | 14,254,000 | [5] | 9,364,000 | [4] | 0 | 0 | 0 | 6,233,000 | 9,719,000 | 7,648,000 | 27,035,000 | [3] | 25,801,000 | [5] | 32,491,000 | [4] | 50,000 | 66,000 | 138,000 | 1,469,000 | 5,490,000 | 5,361,000 | ||||||||||||||||||||||||||||||||||||
Financing Receivable, Recorded Investment, Past Due | 310,588,000 | [3] | 365,484,000 | [4] | 310,588,000 | [3] | 365,484,000 | [4] | 336,787,000 | [5] | 2,893,000 | 2,262,000 | 7,429,000 | 81,820,000 | 107,913,000 | 129,809,000 | 210,951,000 | [3] | 204,069,000 | [5] | 228,406,000 | [4] | 2,565,000 | 2,127,000 | 6,726,000 | 21,364,000 | 40,982,000 | 49,178,000 | 42,323,000 | [3] | 63,858,000 | [5] | 70,275,000 | [4] | 969,000 | 7,876,000 | 11,441,000 | 7,000 | 0 | 0 | 2,324,000 | [3] | 109,000 | [5] | 683,000 | [4] | 50,000 | 1,000 | 1,000 | 17,148,000 | 20,086,000 | 18,367,000 | 3,814,000 | [3] | 4,838,000 | [5] | 2,375,000 | [4] | 165,000 | 68,000 | 38,000 | 3,558,000 | 4,646,000 | 4,127,000 | 2,355,000 | 2,816,000 | 2,694,000 | 20,206,000 | [3] | 28,524,000 | [5] | 25,233,000 | [4] | 63,000 | 0 | 78,000 | 23,374,000 | 23,556,000 | 19,747,000 | 30,970,000 | [3] | 35,389,000 | [5] | 38,512,000 | [4] | 50,000 | 66,000 | 586,000 | 13,045,000 | 7,951,000 | 24,255,000 | ||||||||||||||||||||||||||||||||||||
Financing Receivable, Recorded Investment, Current | 732,470,000 | [3] | 1,061,263,000 | [4] | 732,470,000 | [3] | 1,061,263,000 | [4] | 954,689,000 | [5] | 53,101,000 | 110,906,000 | 170,530,000 | 8,178,606,000 | 7,527,863,000 | 7,323,804,000 | 412,323,000 | [3] | 573,779,000 | [5] | 649,812,000 | [4] | 29,653,000 | 60,616,000 | 101,069,000 | 2,099,760,000 | 1,951,211,000 | 1,907,048,000 | 19,453,000 | [3] | 26,051,000 | [5] | 29,779,000 | [4] | 308,136,000 | 269,459,000 | 241,137,000 | 110,931,000 | 73,530,000 | 57,992,000 | 6,036,000 | [3] | 10,013,000 | [5] | 10,455,000 | [4] | 1,888,000 | 2,519,000 | 3,283,000 | 1,301,995,000 | 1,241,059,000 | 1,249,676,000 | 119,364,000 | [3] | 136,710,000 | [5] | 143,757,000 | [4] | 18,007,000 | 19,223,000 | 20,718,000 | 768,013,000 | 720,045,000 | 718,494,000 | 141,563,000 | 143,540,000 | 140,016,000 | 43,573,000 | [3] | 45,986,000 | [5] | 48,578,000 | [4] | 1,187,000 | 1,840,000 | 1,778,000 | 414,438,000 | 388,268,000 | 375,706,000 | 131,721,000 | [3] | 162,150,000 | [5] | 178,882,000 | [4] | 2,366,000 | 26,708,000 | 43,682,000 | 3,033,770,000 | 2,740,751,000 | 2,633,735,000 | ||||||||||||||||||||||||||||||||||||
Financing Receivable | 8,316,420,000 | 8,316,420,000 | 1,043,058,000 | [3] | 1,426,747,000 | [4] | 1,043,058,000 | [3] | 1,426,747,000 | [4] | 1,291,476,000 | [5] | 55,994,000 | 113,168,000 | 177,959,000 | 8,260,426,000 | 7,635,776,000 | 7,453,613,000 | 623,274,000 | [3] | 777,848,000 | [5] | 878,218,000 | [4] | 32,218,000 | 62,743,000 | 107,795,000 | 2,121,124,000 | 1,992,193,000 | 1,956,226,000 | 61,776,000 | [3] | 89,909,000 | [5] | 100,054,000 | [4] | 309,105,000 | 277,335,000 | 252,578,000 | 0 | 0 | 0 | 0 | 0 | 0 | 110,938,000 | 73,530,000 | 57,992,000 | 8,360,000 | [3] | 10,122,000 | [5] | 11,138,000 | [4] | 1,938,000 | 2,520,000 | 3,284,000 | 1,319,143,000 | 1,261,145,000 | 1,268,043,000 | 123,178,000 | [3] | 141,548,000 | [5] | 146,132,000 | [4] | 18,172,000 | 19,291,000 | 20,756,000 | 771,571,000 | 724,691,000 | 722,621,000 | 143,918,000 | 146,356,000 | 142,710,000 | 63,779,000 | [3] | 74,510,000 | [5] | 73,811,000 | [4] | 1,250,000 | 1,840,000 | 1,856,000 | 437,812,000 | 411,824,000 | 395,453,000 | 162,691,000 | [3] | 197,539,000 | [5] | 217,394,000 | [4] | 2,416,000 | 26,774,000 | 44,268,000 | 3,046,815,000 | 2,748,702,000 | 2,657,990,000 | ||||||||||||||||||||||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 132,000 | 3,000 | 395,000 | 9,559,000 | 11,373,000 | 4,008,000 | 0 | 0 | 394,000 | 1,862,000 | 984,000 | 0 | 0 | 609,000 | 0 | 0 | 0 | 0 | 0 | 1,000 | 0 | 4,439,000 | 4,864,000 | 1,125,000 | 132,000 | 2,000 | 1,000 | 409,000 | 796,000 | 922,000 | 393,000 | 403,000 | 357,000 | 0 | 0 | 0 | 2,399,000 | 3,252,000 | 1,481,000 | 0 | 0 | 0 | 57,000 | 465,000 | 123,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,831,000 | 2,949,000 | 3,696,000 | 47,480,000 | 61,682,000 | 64,207,000 | 10,600,000 | 2,762,000 | 2,880,000 | 3,558,000 | 17,812,000 | 36,025,000 | 39,560,000 | 923,000 | 7,575,000 | 10,580,000 | 0 | 0 | 0 | 0 | 0 | 0 | 3,267,000 | 624,000 | 438,000 | 0 | 0 | 0 | 1,858,000 | 1,102,000 | 753,000 | 525,000 | 622,000 | 614,000 | 0 | 0 | 0 | 13,169,000 | 6,468,000 | 6,166,000 | 69,000 | 69,000 | 138,000 | 9,926,000 | 9,266,000 | 6,096,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Covered Loans Loss Share Receivable | $ 131,872,000 | $ 220,471,000 | $ 131,872,000 | $ 220,471,000 | $ 205,664,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Allowance for loan losses (Details Textual) (Details) (USD $)
|
3 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2012
payment_cycles
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Sep. 30, 2012
Acquired Non Impaired Loans [Member]
|
Sep. 30, 2011
Acquired Non Impaired Loans [Member]
|
Dec. 31, 2011
Acquired Non Impaired Loans [Member]
|
Sep. 30, 2012
Loans with No Related Allowance [Member]
|
Sep. 30, 2012
Covered Loans [Member]
|
Sep. 30, 2011
Covered Loans [Member]
|
Sep. 30, 2012
Covered Loans [Member]
|
Sep. 30, 2011
Covered Loans [Member]
|
Jun. 30, 2012
Covered Loans [Member]
|
Dec. 31, 2011
Covered Loans [Member]
|
Mar. 31, 2011
Covered Loans [Member]
|
Dec. 31, 2010
Covered Loans [Member]
|
Sep. 30, 2012
Consumer Loan [Member]
|
|
Financing Receivable, Modifications [Line Items] | ||||||||||||||||
Minimum Non Performing Substandard Loans Outstanding for Allowance for Credit Losses | $ 300,000 | |||||||||||||||
Minimum Non Performing Substandard Doubtful Loans Outstanding for Allowance for Credit Losses | 100,000 | |||||||||||||||
Loans and Leases Receivable, Allowance | 98,942,000 | 107,699,000 | 109,187,000 | 43,644,000 | 34,603,000 | 43,644,000 | 34,603,000 | 42,606,000 | 36,417,000 | 33,360,000 | 13,733,000 | |||||
Provision for Loan Losses Before Benefit Attributable to FDIC Loss Share Agreements | 7,698,000 | 12,992,000 | 28,177,000 | 48,657,000 | ||||||||||||
Benefit Attributable to FDIC Loss Share Agreements | (1,484,000) | (8,224,000) | (12,601,000) | (31,077,000) | ||||||||||||
Net provision for covered loan losses | 300,000 | 600,000 | 700,000 | 6,214,000 | 4,768,000 | 15,576,000 | 17,580,000 | |||||||||
Maximum term in which concessionary modifications are considered short-term | 90 days | |||||||||||||||
Minimum number of consecutive payment cycles after restructuring date with modified term | 6 | |||||||||||||||
Impaired Financing Receivable, Recorded Investment | 108,378,000 | 111,610,000 | 113,090,000 | 300,000 | ||||||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 10,600,000 |
Loans Loans (Details 2) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2012
|
Dec. 31, 2011
|
Sep. 30, 2011
|
|||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable | $ 8,316,420 | |||||||||||
Covered Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 21,996 | [1] | 48,822 | [2] | 38,124 | [3] | ||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 25,573 | [1] | 17,989 | [2] | 17,511 | [3] | ||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 263,019 | [1] | 269,976 | [2] | 309,849 | [3] | ||||||
Financing Receivable, Recorded Investment, Past Due | 310,588 | [1] | 336,787 | [2] | 365,484 | [3] | ||||||
Financing Receivable, Recorded Investment, Current | 732,470 | [1] | 954,689 | [2] | 1,061,263 | [3] | ||||||
Financing Receivable | 1,043,058 | [1] | 1,291,476 | [2] | 1,426,747 | [3] | ||||||
Acquired Loans Noncovered [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 169 | 67 | 2,273 | |||||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 9 | 452 | 1,733 | |||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 2,715 | 1,743 | 3,423 | |||||||||
Financing Receivable, Recorded Investment, Past Due | 2,893 | 2,262 | 7,429 | |||||||||
Financing Receivable, Recorded Investment, Current | 53,101 | 110,906 | 170,530 | |||||||||
Financing Receivable | 55,994 | 113,168 | 177,959 | |||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 132 | 3 | 395 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,831 | 2,949 | 3,696 | |||||||||
Legacy Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 38,124 | 34,773 | 41,036 | |||||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 13,877 | 12,691 | 27,073 | |||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 29,819 | 60,449 | 61,700 | |||||||||
Financing Receivable, Recorded Investment, Past Due | 81,820 | 107,913 | 129,809 | |||||||||
Financing Receivable, Recorded Investment, Current | 8,178,606 | 7,527,863 | 7,323,804 | |||||||||
Financing Receivable | 8,260,426 | 7,635,776 | 7,453,613 | |||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 9,559 | 11,373 | 4,008 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 47,480 | 61,682 | 64,207 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Covered Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 2,962 | [1] | 7,451 | [2] | 3,913 | [3] | ||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 973 | [1] | 2,137 | [2] | 2,108 | [3] | ||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 27,035 | [1] | 25,801 | [2] | 32,491 | [3] | ||||||
Financing Receivable, Recorded Investment, Past Due | 30,970 | [1] | 35,389 | [2] | 38,512 | [3] | ||||||
Financing Receivable, Recorded Investment, Current | 131,721 | [1] | 162,150 | [2] | 178,882 | [3] | ||||||
Financing Receivable | 162,691 | [1] | 197,539 | [2] | 217,394 | [3] | ||||||
Commercial and Industrial Financing Receivable [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 0 | 0 | 448 | |||||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 | 0 | |||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 50 | 66 | 138 | |||||||||
Financing Receivable, Recorded Investment, Past Due | 50 | 66 | 586 | |||||||||
Financing Receivable, Recorded Investment, Current | 2,366 | 26,708 | 43,682 | |||||||||
Financing Receivable | 2,416 | 26,774 | 44,268 | |||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | 0 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 69 | 69 | 138 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Legacy Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 8,781 | 1,521 | 12,639 | |||||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 2,795 | 940 | 6,255 | |||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,469 | 5,490 | 5,361 | |||||||||
Financing Receivable, Recorded Investment, Past Due | 13,045 | 7,951 | 24,255 | |||||||||
Financing Receivable, Recorded Investment, Current | 3,033,770 | 2,740,751 | 2,633,735 | |||||||||
Financing Receivable | 3,046,815 | 2,748,702 | 2,657,990 | |||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 57 | 465 | 123 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 9,926 | 9,266 | 6,096 | |||||||||
Commercial Real Estate Other Receivable [Member] | Covered Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 4,965 | [1] | 20,379 | [2] | 17,486 | [3] | ||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 21,919 | [1] | 12,895 | [2] | 11,963 | [3] | ||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 184,067 | [1] | 170,795 | [2] | 198,957 | [3] | ||||||
Financing Receivable, Recorded Investment, Past Due | 210,951 | [1] | 204,069 | [2] | 228,406 | [3] | ||||||
Financing Receivable, Recorded Investment, Current | 412,323 | [1] | 573,779 | [2] | 649,812 | [3] | ||||||
Financing Receivable | 623,274 | [1] | 777,848 | [2] | 878,218 | [3] | ||||||
Commercial Real Estate Other Receivable [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 0 | 0 | 1,746 | |||||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 452 | 1,696 | |||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 2,565 | 1,675 | 3,284 | |||||||||
Financing Receivable, Recorded Investment, Past Due | 2,565 | 2,127 | 6,726 | |||||||||
Financing Receivable, Recorded Investment, Current | 29,653 | 60,616 | 101,069 | |||||||||
Financing Receivable | 32,218 | 62,743 | 107,795 | |||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | 394 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,762 | 2,880 | 3,558 | |||||||||
Commercial Real Estate Other Receivable [Member] | Legacy Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 3,197 | 6,187 | 5,145 | |||||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 3,856 | 4,819 | 11,030 | |||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 14,311 | 29,976 | 33,003 | |||||||||
Financing Receivable, Recorded Investment, Past Due | 21,364 | 40,982 | 49,178 | |||||||||
Financing Receivable, Recorded Investment, Current | 2,099,760 | 1,951,211 | 1,907,048 | |||||||||
Financing Receivable | 2,121,124 | 1,992,193 | 1,956,226 | |||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 1,862 | 984 | 0 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 17,812 | 36,025 | 39,560 | |||||||||
Commercial Construction Financing Receivable [Member] | Covered Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 0 | [1] | 4,206 | [2] | 913 | [3] | ||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 998 | [1] | 1,674 | [2] | 1,346 | [3] | ||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 41,325 | [1] | 57,978 | [2] | 68,016 | [3] | ||||||
Financing Receivable, Recorded Investment, Past Due | 42,323 | [1] | 63,858 | [2] | 70,275 | [3] | ||||||
Financing Receivable, Recorded Investment, Current | 19,453 | [1] | 26,051 | [2] | 29,779 | [3] | ||||||
Financing Receivable | 61,776 | [1] | 89,909 | [2] | 100,054 | [3] | ||||||
Commercial Construction Financing Receivable [Member] | Legacy Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 116 | 39 | 779 | |||||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 | 1,719 | |||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 853 | 7,837 | 8,943 | |||||||||
Financing Receivable, Recorded Investment, Past Due | 969 | 7,876 | 11,441 | |||||||||
Financing Receivable, Recorded Investment, Current | 308,136 | 269,459 | 241,137 | |||||||||
Financing Receivable | 309,105 | 277,335 | 252,578 | |||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 609 | 0 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 923 | 7,575 | 10,580 | |||||||||
Commercial Leases Financing Receivable [Member] | Covered Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Legacy Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 7 | 0 | 0 | |||||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 | 0 | |||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 0 | 0 | |||||||||
Financing Receivable, Recorded Investment, Past Due | 7 | 0 | 0 | |||||||||
Financing Receivable, Recorded Investment, Current | 110,931 | 73,530 | 57,992 | |||||||||
Financing Receivable | 110,938 | 73,530 | 57,992 | |||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | 0 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | 0 | |||||||||
Consumer Installment Financing Receivable [Member] | Covered Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 2,289 | [1] | 24 | [2] | 505 | [3] | ||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | [1] | 25 | [2] | 136 | [3] | ||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 35 | [1] | 60 | [2] | 42 | [3] | ||||||
Financing Receivable, Recorded Investment, Past Due | 2,324 | [1] | 109 | [2] | 683 | [3] | ||||||
Financing Receivable, Recorded Investment, Current | 6,036 | [1] | 10,013 | [2] | 10,455 | [3] | ||||||
Financing Receivable | 8,360 | [1] | 10,122 | [2] | 11,138 | [3] | ||||||
Consumer Installment Financing Receivable [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 50 | 0 | 1 | |||||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 | 0 | |||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 1 | 0 | |||||||||
Financing Receivable, Recorded Investment, Past Due | 50 | 1 | 1 | |||||||||
Financing Receivable, Recorded Investment, Current | 1,888 | 2,519 | 3,283 | |||||||||
Financing Receivable | 1,938 | 2,520 | 3,284 | |||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 1 | 0 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | 0 | |||||||||
Consumer Installment Financing Receivable [Member] | Legacy Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 8,884 | 11,531 | 9,090 | |||||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 3,430 | 3,388 | 4,225 | |||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 4,834 | 5,167 | 5,052 | |||||||||
Financing Receivable, Recorded Investment, Past Due | 17,148 | 20,086 | 18,367 | |||||||||
Financing Receivable, Recorded Investment, Current | 1,301,995 | 1,241,059 | 1,249,676 | |||||||||
Financing Receivable | 1,319,143 | 1,261,145 | 1,268,043 | |||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 4,439 | 4,864 | 1,125 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,267 | 624 | 438 | |||||||||
Consumer Home Equity Lines Financing Receivable [Member] | Covered Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 1,398 | [1] | 2,656 | [2] | 500 | [3] | ||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 435 | [1] | 1,094 | [2] | 896 | [3] | ||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,981 | [1] | 1,088 | [2] | 979 | [3] | ||||||
Financing Receivable, Recorded Investment, Past Due | 3,814 | [1] | 4,838 | [2] | 2,375 | [3] | ||||||
Financing Receivable, Recorded Investment, Current | 119,364 | [1] | 136,710 | [2] | 143,757 | [3] | ||||||
Financing Receivable | 123,178 | [1] | 141,548 | [2] | 146,132 | [3] | ||||||
Consumer Home Equity Lines Financing Receivable [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 56 | 67 | 0 | |||||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 9 | 0 | 37 | |||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 100 | 1 | 1 | |||||||||
Financing Receivable, Recorded Investment, Past Due | 165 | 68 | 38 | |||||||||
Financing Receivable, Recorded Investment, Current | 18,007 | 19,223 | 20,718 | |||||||||
Financing Receivable | 18,172 | 19,291 | 20,756 | |||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 132 | 2 | 1 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | 0 | |||||||||
Consumer Home Equity Lines Financing Receivable [Member] | Legacy Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 1,784 | 2,627 | 2,474 | |||||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 463 | 778 | 731 | |||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,311 | 1,241 | 922 | |||||||||
Financing Receivable, Recorded Investment, Past Due | 3,558 | 4,646 | 4,127 | |||||||||
Financing Receivable, Recorded Investment, Current | 768,013 | 720,045 | 718,494 | |||||||||
Financing Receivable | 771,571 | 724,691 | 722,621 | |||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 409 | 796 | 922 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,858 | 1,102 | 753 | |||||||||
Consumer Credit Card Financing Receivable [Member] | Legacy Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 991 | 1,090 | 1,222 | |||||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 556 | 707 | 701 | |||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 808 | 1,019 | 771 | |||||||||
Financing Receivable, Recorded Investment, Past Due | 2,355 | 2,816 | 2,694 | |||||||||
Financing Receivable, Recorded Investment, Current | 141,563 | 143,540 | 140,016 | |||||||||
Financing Receivable | 143,918 | 146,356 | 142,710 | |||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 393 | 403 | 357 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 525 | 622 | 614 | |||||||||
Consumer Residential Mortgages Financing Receivable [Member] | Covered Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 10,382 | [1] | 14,106 | [2] | 14,807 | [3] | ||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,248 | [1] | 164 | [2] | 1,062 | [3] | ||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 8,576 | [1] | 14,254 | [2] | 9,364 | [3] | ||||||
Financing Receivable, Recorded Investment, Past Due | 20,206 | [1] | 28,524 | [2] | 25,233 | [3] | ||||||
Financing Receivable, Recorded Investment, Current | 43,573 | [1] | 45,986 | [2] | 48,578 | [3] | ||||||
Financing Receivable | 63,779 | [1] | 74,510 | [2] | 73,811 | [3] | ||||||
Consumer Residential Mortgages Financing Receivable [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 63 | 0 | 78 | |||||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 | 0 | |||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 0 | 0 | |||||||||
Financing Receivable, Recorded Investment, Past Due | 63 | 0 | 78 | |||||||||
Financing Receivable, Recorded Investment, Current | 1,187 | 1,840 | 1,778 | |||||||||
Financing Receivable | 1,250 | 1,840 | 1,856 | |||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | 0 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | 0 | |||||||||
Consumer Residential Mortgages Financing Receivable [Member] | Legacy Loans [Member]
|
||||||||||||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||||||||||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 14,364 | 11,778 | 9,687 | |||||||||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 2,777 | 2,059 | 2,412 | |||||||||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 6,233 | 9,719 | 7,648 | |||||||||
Financing Receivable, Recorded Investment, Past Due | 23,374 | 23,556 | 19,747 | |||||||||
Financing Receivable, Recorded Investment, Current | 414,438 | 388,268 | 375,706 | |||||||||
Financing Receivable | 437,812 | 411,824 | 395,453 | |||||||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 2,399 | 3,252 | 1,481 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 13,169 | $ 6,468 | $ 6,166 | |||||||||
|
Mortgage Servicing Rights and Mortgage Servicing Activity (Tables)
|
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2012
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Transfers and Servicing [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in the carrying amount of mortgage servicing rights | Changes in the carrying amount of mortgage servicing rights and the mortgage servicing rights valuation allowance are as follows:
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Changes in Key economics assumptions |
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Mortgage Servicing Rights and Mortgage Servicing Activity (Details Textual) (USD $)
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3 Months Ended | 9 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2012
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Sep. 30, 2012
|
Sep. 30, 2011
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Mar. 31, 2011
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Sep. 30, 2012
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
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Dec. 31, 2011
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
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Mar. 31, 2011
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
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||||
Servicing Assets at Fair Value [Line Items] | ||||||||||
Servicing Asset at Amortized Value, Fair Value | $ 17,294,000 | $ 17,294,000 | $ 16,866,000 | $ 17,294,000 | [1] | $ 17,749,000 | $ 16,866,000 | |||
Proceeds from Sale of Mortgage Loans Held-for-sale | 596,412,000 | 329,967,000 | ||||||||
Unpaid principal balances from sale of residential mortgage loans | 588.6 | 324.8 | ||||||||
Recognized pretax gains | 7,900,000 | 5,200,000 | ||||||||
Related mortgage servicing rights from loans sold and receives servicing fees | 560,900,000 | 560,900,000 | 283,200,000 | |||||||
Principal amount of loans serviced | 2,400,000,000 | 2,400,000,000 | 2,200,000,000 | |||||||
Loan servicing fees | $ 4,200,000 | $ 4,000,000 | ||||||||
Minimum percentage adverse change in prepayment speed | 10.00% | |||||||||
Maximum percentage adverse change in prepayment speed | 25.00% | |||||||||
Percentage of variation in prepayment speed | 10.00% | 10.00% | ||||||||
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Goodwill and Other Intangible Assets (Details Textual) (USD $)
|
3 Months Ended | 9 Months Ended | ||||
---|---|---|---|---|---|---|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
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Sep. 30, 2011
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Dec. 31, 2012
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Dec. 31, 2011
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Goodwill [Line Items] | ||||||
Goodwill | $ 460,044,000 | $ 460,044,000 | $ 460,044,000 | $ 460,044,000 | $ 460,044,000 | $ 460,044,000 |
Future Amortization Expense, Year One | 400,000 | |||||
Future Amortization Expense, Year Two | 1,200,000 | |||||
Future Amortization Expense, Year Three | 1,100,000 | |||||
Future Amortization Expense, Year Four | 1,000,000 | |||||
Future Amortization Expense, Year Five | 900,000 | |||||
Amortization of Intangible Assets | $ 456,000 | $ 543,000 | $ 1,422,000 | $ 1,629,000 |
Contingencies and Guarantees (Schedule of Guarantor Obligations) (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2012
|
Dec. 31, 2011
|
Sep. 30, 2011
|
---|---|---|---|
Standby Letters of Credit [Member]
|
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Guarantor Obligations [Line Items] | |||
Guarantor Obligations, Current Carrying Value | $ 125,791 | $ 135,039 | $ 130,186 |
Loans Sold with Recourse [Member]
|
|||
Guarantor Obligations [Line Items] | |||
Guarantor Obligations, Current Carrying Value | 39,251 | 38,808 | 40,763 |
Guarantee Obligations [Member]
|
|||
Guarantor Obligations [Line Items] | |||
Guarantor Obligations, Current Carrying Value | $ 165,042 | $ 173,847 | $ 170,949 |
Contingencies and Guarantees Contingencies and Guarantees (Schedule of Changes in Repurchase Reserve) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | |||
---|---|---|---|---|---|
Sep. 30, 2012
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Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
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Mar. 31, 2011
|
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Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Balance at beginning of period | $ 2,013 | $ 2,063 | $ 1,743 | $ 2,833 | |
Net realized losses | (202) | (96) | (569) | (356) | |
Net increase to reserve | 482 | 7 | 1,119 | (503) | |
Balance at end of period | 2,293 | 1,974 | 2,293 | 1,974 | |
Residential Mortgage [Member]
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|||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Balance at beginning of period | 750 | 470 | 600 | 465 | |
Net realized losses | (202) | (96) | (569) | (321) | |
Net increase to reserve | 552 | 1 | 1,199 | 91 | |
Balance at end of period | 1,100 | 370 | 1,100 | 370 | 465 |
Manufactured housing [Member]
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|||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Balance at beginning of period | 1,263 | 1,273 | 2,233 | 1,598 | |
Net realized losses | 0 | 0 | 0 | (35) | |
Net increase to reserve | (70) | 6 | (80) | (594) | |
Balance at end of period | $ 1,193 | $ 1,604 | $ 1,193 | $ 1,604 | $ 1,598 |
Fair Value Measurement (Details Textual) (USD $)
|
Sep. 30, 2012
|
Dec. 31, 2011
|
Sep. 30, 2011
|
---|---|---|---|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
MSR Net Carrying Amount | $ 17,213,000 | $ 17,600,000 | $ 16,792,000 |
True-up Liabitlity Discount Rate | 2.99% | 3.81% | |
True-up Liability Effect of Change in Discount Rate Increase By One Percent | 900,000 | ||
True-up Liability Effect of Change in Discount Rate Decrease by One Percent | 1,000,000 | ||
George Washington [Member]
|
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Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Estimated fair value of true up liability | 5,000,000 | 4,300,000 | 4,600,000 |
Midwest [Member]
|
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Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Estimated fair value of true up liability | $ 7,700,000 | $ 7,200,000 | $ 7,300,000 |
Loans (Tables)
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Sep. 30, 2012
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Loans [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non Covered and Covered Loans Outstanding [Table Text Block] | Total noncovered and covered loans outstanding as of September 30, 2012, December 31, 2011 and September 30, 2011 were as follows:
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Changes in Loss Share Receivable Associated with Covered Loans [Table Text Block] | Changes in the loss share receivable associated with covered loans for the three and nine months ended September 30, 2012 and 2011 were as follows:
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Past Due Financing Receivables [Table Text Block] |
(a) Installment loans 90 days or more past due and accruing include $2.6 million of loans guaranteed by the U.S. government as of September 30, 2011. (b) Excludes loss share receivable of $220.5 million as of September 30, 2011. (c) Acquired impaired loans were not classified as nonperforming assets at September 30, 2011 as the loans are considered to be performing under ASC 310-30. As a result interest income, through the accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all acquired impaired loans. These asset quality disclosures are, therefore, not applicable to acquired impaired loans |
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Changes in Carrying Amount of Accretable Yield for Purchased Loans [Table Text Block] | Changes in the carrying amount and accretable yield for Acquired Impaired Loans were as follows for the three and nine months ended September 30, 2012 and 2011:
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Financing Receivable Credit Quality Indicators [Table Text Block] | The following tables provide a summary of loans by portfolio type and the Corporation’s internal credit quality rating:
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Reconcilation fo Carrying Amount of Acquired Impaired Loans [Table Text Block] | A reconciliation of the contractual required payments receivable to the carrying amount of Acquired Impaired Loans as of September 30, 2012 and 2011 is as follows:
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Allowance for loan losses (Details 1) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2012
|
Jun. 30, 2012
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
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---|---|---|---|---|---|---|
Legacy Loans | ||||||
Total ending balance | $ 8,316,420 | |||||
Commercial Portfolio Segment [Member]
|
||||||
Legacy Loans | ||||||
Total ending balance | 3,049,229 | |||||
Commercial Real Estate Portfolio Segment [Member]
|
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Legacy Loans | ||||||
Total ending balance | 2,153,342 | |||||
Commercial Construction Financing Receivable Portfolio Segment [Member]
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Legacy Loans | ||||||
Total ending balance | 309,105 | |||||
Finance Leases Portfolio Segment [Member]
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Legacy Loans | ||||||
Total ending balance | 110,938 | |||||
Installment Financing Receivable Portfolio Segment [Member]
|
||||||
Legacy Loans | ||||||
Total ending balance | 1,321,082 | |||||
Home Equity Receivable Portfolio Segment [Member]
|
||||||
Legacy Loans | ||||||
Total ending balance | 789,742 | |||||
Credit Card Receivables Portfolio Segment [Member]
|
||||||
Legacy Loans | ||||||
Total ending balance | 143,919 | |||||
Residential Portfolio Segment [Member]
|
||||||
Legacy Loans | ||||||
Total ending balance | 439,063 | |||||
Noncovered Loans [Member]
|
||||||
Allowance for loan losses | ||||||
Individually evaluated for impairment | 8,444 | 7,080 | 6,671 | |||
Collectively evaluated for impairment | 90,498 | 100,619 | 102,516 | |||
Financing Receivable, Allowance for Credit Losses | 98,942 | 103,849 | 107,699 | 109,187 | 109,187 | 114,690 |
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 108,378 | |||||
Ending Balance: Collectively Evaluated | 8,208,042 | |||||
Total ending balance | 7,748,944 | 7,631,572 | ||||
Noncovered Loans [Member] | Commercial Portfolio Segment [Member]
|
||||||
Allowance for loan losses | ||||||
Individually evaluated for impairment | (2,900) | (2,497) | (256) | |||
Collectively evaluated for impairment | (36,259) | (29,866) | (30,082) | |||
Financing Receivable, Allowance for Credit Losses | 39,159 | 40,327 | 32,363 | 30,338 | 28,366 | 29,764 |
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 9,994 | |||||
Ending Balance: Collectively Evaluated | 3,039,235 | |||||
Noncovered Loans [Member] | Commercial Real Estate Portfolio Segment [Member]
|
||||||
Allowance for loan losses | ||||||
Individually evaluated for impairment | 1,953 | 1,599 | 2,064 | |||
Collectively evaluated for impairment | 23,225 | 30,258 | 31,237 | |||
Financing Receivable, Allowance for Credit Losses | 25,178 | 27,186 | 31,857 | 33,301 | 32,946 | 32,026 |
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 28,972 | |||||
Ending Balance: Collectively Evaluated | 2,124,370 | |||||
Noncovered Loans [Member] | Commercial Construction Financing Receivable Portfolio Segment [Member]
|
||||||
Allowance for loan losses | ||||||
Individually evaluated for impairment | 117 | 99 | 1,264 | |||
Collectively evaluated for impairment | 4,687 | 5,074 | 5,551 | |||
Financing Receivable, Allowance for Credit Losses | 4,804 | 5,147 | 5,173 | 6,815 | 7,876 | 7,180 |
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 3,577 | |||||
Ending Balance: Collectively Evaluated | 305,528 | |||||
Noncovered Loans [Member] | Finance Leases Portfolio Segment [Member]
|
||||||
Allowance for loan losses | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | |||
Collectively evaluated for impairment | (506) | (341) | (325) | |||
Financing Receivable, Allowance for Credit Losses | 506 | 358 | 341 | 325 | 353 | 475 |
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 0 | |||||
Ending Balance: Collectively Evaluated | 110,938 | |||||
Noncovered Loans [Member] | Installment Financing Receivable Portfolio Segment [Member]
|
||||||
Allowance for loan losses | ||||||
Individually evaluated for impairment | 1,674 | 1,382 | 1,568 | |||
Collectively evaluated for impairment | 10,161 | 16,599 | 16,755 | |||
Financing Receivable, Allowance for Credit Losses | 11,835 | 13,029 | 17,981 | 18,323 | 18,089 | 21,555 |
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 32,577 | |||||
Ending Balance: Collectively Evaluated | 1,288,505 | |||||
Noncovered Loans [Member] | Home Equity Receivable Portfolio Segment [Member]
|
||||||
Allowance for loan losses | ||||||
Individually evaluated for impairment | (95) | (31) | (52) | |||
Collectively evaluated for impairment | (4,790) | (6,735) | (6,191) | |||
Financing Receivable, Allowance for Credit Losses | 4,885 | 5,449 | 6,766 | 6,243 | 7,142 | 7,217 |
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 6,922 | |||||
Ending Balance: Collectively Evaluated | 782,820 | |||||
Noncovered Loans [Member] | Credit Card Receivables Portfolio Segment [Member]
|
||||||
Allowance for loan losses | ||||||
Individually evaluated for impairment | 106 | 108 | 121 | |||
Collectively evaluated for impairment | 7,129 | 7,261 | 7,875 | |||
Financing Receivable, Allowance for Credit Losses | 7,235 | 6,690 | 7,369 | 7,996 | 8,403 | 11,107 |
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 1,767 | |||||
Ending Balance: Collectively Evaluated | 142,152 | |||||
Noncovered Loans [Member] | Residential Portfolio Segment [Member]
|
||||||
Allowance for loan losses | ||||||
Individually evaluated for impairment | 1,599 | 1,364 | 1,346 | |||
Collectively evaluated for impairment | 3,741 | 4,485 | 4,500 | |||
Financing Receivable, Allowance for Credit Losses | 5,340 | 5,663 | 5,849 | 5,846 | 6,012 | 5,366 |
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 24,569 | |||||
Ending Balance: Collectively Evaluated | 414,494 | |||||
Legacy Loans [Member]
|
||||||
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 111,610 | 113,087 | ||||
Ending Balance: Collectively Evaluated | 7,637,334 | 7,518,485 | ||||
Total ending balance | 8,260,426 | 7,635,776 | 7,453,613 | |||
Legacy Loans [Member] | Commercial Portfolio Segment [Member]
|
||||||
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 8,269 | 4,271 | ||||
Ending Balance: Collectively Evaluated | 2,767,207 | 2,697,987 | ||||
Total ending balance | 2,775,476 | 2,702,258 | ||||
Legacy Loans [Member] | Commercial Real Estate Portfolio Segment [Member]
|
||||||
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 36,087 | 39,288 | ||||
Ending Balance: Collectively Evaluated | 2,018,849 | 2,024,734 | ||||
Total ending balance | 2,054,936 | 2,064,022 | ||||
Legacy Loans [Member] | Commercial Construction Financing Receivable Portfolio Segment [Member]
|
||||||
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 9,320 | 11,789 | ||||
Ending Balance: Collectively Evaluated | 268,015 | 240,788 | ||||
Total ending balance | 277,335 | 252,577 | ||||
Legacy Loans [Member] | Finance Leases Portfolio Segment [Member]
|
||||||
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 0 | 0 | ||||
Ending Balance: Collectively Evaluated | 73,530 | 57,992 | ||||
Total ending balance | 73,530 | 57,992 | ||||
Legacy Loans [Member] | Installment Financing Receivable Portfolio Segment [Member]
|
||||||
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 33,571 | 34,654 | ||||
Ending Balance: Collectively Evaluated | 1,230,094 | 1,236,673 | ||||
Total ending balance | 1,263,665 | 1,271,327 | ||||
Legacy Loans [Member] | Home Equity Receivable Portfolio Segment [Member]
|
||||||
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 4,763 | 4,413 | ||||
Ending Balance: Collectively Evaluated | 739,219 | 738,964 | ||||
Total ending balance | 743,982 | 743,377 | ||||
Legacy Loans [Member] | Credit Card Receivables Portfolio Segment [Member]
|
||||||
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 2,202 | 2,356 | ||||
Ending Balance: Collectively Evaluated | 144,154 | 140,354 | ||||
Total ending balance | 146,356 | 142,710 | ||||
Legacy Loans [Member] | Residential Portfolio Segment [Member]
|
||||||
Legacy Loans | ||||||
Ending Balance: Individually Evaluated | 17,398 | 16,316 | ||||
Ending Balance: Collectively Evaluated | 396,266 | 380,993 | ||||
Total ending balance | $ 413,664 | $ 397,309 |
Investment Securities (Details 4) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2012
|
---|---|
Securities Available for Sale | |
One year or less | $ 114,333 |
Over one year through five years | 2,467,708 |
Over five years through ten years | 233,188 |
Over ten years | 93,519 |
Fair Value | 2,908,748 |
Weighted Average Yield, one year or less | 2.68% |
Weighted Average Yield, over one year through five years | 2.55% |
Weighted Average Yield, over five years through ten years | 4.74% |
Weighted Average Yield, over ten years | 2.74% |
Weighted Average Yield, Total | 2.74% |
Amortized Cost | 2,824,577 |
Weighted-Average Yield | 2.74% |
Weighted-Average Maturity | 3.66 |
Securities Held to Maturity | |
One year or less | 45,126 |
Over one year through five years | 199,466 |
Over five years through ten years | 208,176 |
Over ten years | 178,469 |
Fair Value | 631,237 |
Weighted Average Yield, one year or less | 1.61% |
Weighted Average Yield, over one year through five years | 2.17% |
Weighted Average Yield, over five years through ten years | 2.81% |
Weighted Average Yield, over ten years | 5.14% |
Weighted Average Yield, Total | 3.18% |
Amortized Cost | 620,631 |
Weighted Average Yield | 3.18% |
Weighted-Average Maturity | 7.35 |
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises [Member]
|
|
Securities Held to Maturity | |
Amortized Cost | 33,149 |
Weighted-Average Maturity | 6.03 |
US Government Agencies Debt Securities [Member]
|
|
Securities Available for Sale | |
One year or less | 35,137 |
Over one year through five years | 0 |
Over five years through ten years | 0 |
Over ten years | 0 |
Fair Value | 35,137 |
Amortized Cost | 35,109 |
Weighted-Average Yield | 0.73% |
Weighted-Average Maturity | 0.14 |
US States and Political Subdivisions Debt Securities [Member]
|
|
Securities Available for Sale | |
One year or less | 7,322 |
Over one year through five years | 27,234 |
Over five years through ten years | 177,836 |
Over ten years | 46,026 |
Fair Value | 258,418 |
Amortized Cost | 241,436 |
Weighted-Average Yield | 5.37% |
Weighted-Average Maturity | 7.83 |
Securities Held to Maturity | |
Amortized Cost | 262,091 |
Residential Mortgage Backed Securities Issued by US Government Sponsored Enterprises [Member]
|
|
Securities Available for Sale | |
One year or less | 4,032 |
Over one year through five years | 1,265,886 |
Over five years through ten years | 7,913 |
Over ten years | 0 |
Fair Value | 1,277,831 |
Amortized Cost | 1,216,671 |
Weighted-Average Yield | 2.98% |
Weighted-Average Maturity | 3.02 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
|
|
Securities Available for Sale | |
One year or less | 5,073 |
Over one year through five years | 0 |
Over five years through ten years | 10,594 |
Over ten years | 0 |
Fair Value | 15,667 |
Amortized Cost | 15,434 |
Weighted-Average Yield | 1.75% |
Weighted-Average Maturity | 4.00 |
Residential Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises [Member]
|
|
Securities Available for Sale | |
One year or less | 62,769 |
Over one year through five years | 1,111,218 |
Over five years through ten years | 31,538 |
Over ten years | 0 |
Fair Value | 1,205,525 |
Amortized Cost | 1,188,072 |
Weighted-Average Yield | 2.14% |
Weighted-Average Maturity | 2.94 |
Securities Held to Maturity | |
Amortized Cost | 129,265 |
Weighted-Average Maturity | 2.7 |
Non-agency [Member]
|
|
Securities Available for Sale | |
One year or less | 0 |
Over one year through five years | 12 |
Over five years through ten years | 0 |
Over ten years | 0 |
Fair Value | 12 |
Amortized Cost | 12 |
Weighted-Average Yield | 3.81% |
Weighted-Average Maturity | 1.92 |
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises [Member]
|
|
Securities Available for Sale | |
One year or less | 0 |
Over one year through five years | 63,358 |
Over five years through ten years | 5,307 |
Over ten years | 0 |
Fair Value | 68,665 |
Amortized Cost | 66,316 |
Weighted-Average Yield | 2.13% |
Weighted-Average Maturity | 4.35 |
Securities Held to Maturity | |
Amortized Cost | 98,961 |
Weighted-Average Maturity | 6.86 |
Corporate Debt Securities [Member]
|
|
Securities Available for Sale | |
One year or less | 0 |
Over one year through five years | 0 |
Over five years through ten years | 0 |
Over ten years | 47,493 |
Fair Value | 47,493 |
Amortized Cost | 61,527 |
Weighted-Average Yield | 1.09% |
Weighted-Average Maturity | 15.06 |
Securities Held to Maturity | |
Amortized Cost | 97,165 |
Residential Mortgage Backed Securities [Member]
|
|
Securities Held to Maturity | |
Fair Value | 0 |
Corporate Debt Securities [Member]
|
|
Securities Held to Maturity | |
Over one year through five years | 33,529 |
Over five years through ten years | 65,071 |
Fair Value | 98,600 |
Weighted Average Yield | 2.23% |
Weighted-Average Maturity | 5.29 |
Commercial Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises [Member]
|
|
Securities Held to Maturity | |
Over one year through five years | 21,160 |
Over five years through ten years | 78,855 |
Fair Value | 100,015 |
Weighted Average Yield | 2.91% |
Residential Collateralized Mortgage Backed Securities Issued by Non Agency [Member]
|
|
Securities Held to Maturity | |
Fair Value | 0 |
Residential Collateralized Mortgage Backed Securities Issued by US Government Sponsored Enterprises [Member]
|
|
Securities Held to Maturity | |
Over one year through five years | 129,661 |
Fair Value | 129,661 |
Weighted Average Yield | 1.89% |
US States and Political Subdivisions Debt Securities [Member]
|
|
Securities Held to Maturity | |
One year or less | 45,126 |
Over one year through five years | 15,116 |
Over five years through ten years | 30,309 |
Over ten years | 178,469 |
Fair Value | 269,020 |
Weighted Average Yield | 5.10% |
Weighted-Average Maturity | 13.48 |
Commercial Mortgage Backed Securities Issued by US Government Sponsored Enterprises [Member]
|
|
Securities Held to Maturity | |
Over five years through ten years | 33,941 |
Fair Value | $ 33,941 |
Weighted Average Yield | 1.42% |
Contingencies and Guarantees (Schedule of Remaining Contractual Loan Commitments by Class) (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2012
|
Dec. 31, 2011
|
Sep. 30, 2011
|
---|---|---|---|
Commercial [Member]
|
|||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Loan Commitments | $ 2,406,226 | $ 2,023,284 | $ 2,047,840 |
Consumer Loan [Member]
|
|||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Loan Commitments | 1,687,955 | 1,585,655 | 1,610,924 |
Commitments to Extend Credit [Member]
|
|||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Loan Commitments | $ 4,094,181 | $ 3,608,939 | $ 3,658,764 |
Business Combinations (Details Textual) (USD $)
|
3 Months Ended | 9 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Dec. 31, 2012
|
Sep. 30, 2012
Branch
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Mar. 31, 2011
Midwest Bank and Trust Company [Member]
|
May 14, 2010
Midwest Bank and Trust Company [Member]
|
Mar. 31, 2010
George Washington Savings Bank [Member]
|
Sep. 30, 2011
George Washington Savings Bank [Member]
|
|
Business Acquisition [Line Items] | ||||||||
Number of branches | 24 | |||||||
Cash received to assume net liabilities | $ 40,200,000 | |||||||
Bargain purchase gain | 1,000,000 | |||||||
Bargain purchase, net of tax | 700,000 | |||||||
Cash payment made by bank to FDIC | 227,500,000 | |||||||
Goodwill | $ 460,044,000 | $ 460,044,000 | $ 460,044,000 | $ 460,044,000 | $ 272,100,000 |
Allowance for loan losses (Details 3) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |
---|---|---|---|
Sep. 30, 2012
|
Sep. 30, 2011
|
Dec. 31, 2011
|
|
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | $ 108,378 | $ 113,090 | $ 111,610 |
Unpaid Principal Balance | 134,017 | 138,761 | 140,563 |
Related Allowance | 8,444 | 6,671 | 7,080 |
Average Recorded Investment | 124,814 | 124,060 | 120,838 |
Total impaired loans with no related allowance [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 36,281 | 38,326 | 48,331 |
Unpaid Principal Balance | 55,255 | 54,809 | 75,286 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 50,871 | 46,300 | 60,520 |
Total impaired loans with no related allowance [Member] | Commercial Loan [Member] | Commercial and Industrial Financing Receivable [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 1,443 | 843 | 6,999 |
Unpaid Principal Balance | 10,154 | 1,831 | 9,121 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 9,903 | 1,613 | 8,442 |
Total impaired loans with no related allowance [Member] | Commercial Loan [Member] | Commercial Real Estate [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 16,910 | 28,728 | 29,566 |
Unpaid Principal Balance | 22,337 | 40,092 | 46,744 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 19,217 | 34,838 | 37,720 |
Total impaired loans with no related allowance [Member] | Commercial Loan [Member] | Commercial Real Estate Construction Financing Receivable [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 3,370 | 5,883 | 7,522 |
Unpaid Principal Balance | 3,944 | 8,657 | 13,675 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 4,080 | 6,850 | 9,908 |
Total impaired loans with no related allowance [Member] | Consumer Loan [Member] | Consumer Installment Financing Receivable [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 2,902 | 0 | 0 |
Unpaid Principal Balance | 4,739 | 0 | 0 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 4,888 | 0 | 0 |
Total impaired loans with no related allowance [Member] | Consumer Loan [Member] | Consumer Home Equity Lines Financing Receivable [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 959 | 0 | 0 |
Unpaid Principal Balance | 1,239 | 0 | 0 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 1,237 | 0 | 0 |
Total impaired loans with no related allowance [Member] | Consumer Loan [Member] | Consumer Credit Card Financing Receivable [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 4 | 0 | 0 |
Unpaid Principal Balance | 4 | 0 | 0 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 4 | 0 | 0 |
Total impaired loans with no related allowance [Member] | Consumer Loan [Member] | Consumer Residential Mortgages Financing Receivable [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 10,693 | 2,872 | 4,244 |
Unpaid Principal Balance | 12,838 | 4,229 | 5,746 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 11,542 | 2,999 | 4,450 |
Total impaired loans with a related allowance [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 72,097 | 74,764 | 63,279 |
Unpaid Principal Balance | 78,762 | 83,952 | 65,277 |
Related Allowance | 8,444 | 6,671 | 7,080 |
Average Recorded Investment | 73,943 | 77,760 | 60,318 |
Total impaired loans with a related allowance [Member] | Commercial Loan [Member] | Commercial and Industrial Financing Receivable [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 8,551 | 3,428 | 1,270 |
Unpaid Principal Balance | 12,555 | 4,725 | 1,769 |
Related Allowance | 2,900 | 256 | 2,497 |
Average Recorded Investment | 10,163 | 4,053 | 752 |
Total impaired loans with a related allowance [Member] | Commercial Loan [Member] | Commercial Real Estate [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 11,543 | 10,560 | 6,521 |
Unpaid Principal Balance | 14,113 | 15,444 | 6,789 |
Related Allowance | 1,953 | 2,064 | 1,599 |
Average Recorded Investment | 10,559 | 12,286 | 3,247 |
Total impaired loans with a related allowance [Member] | Commercial Loan [Member] | Commercial Real Estate Construction Financing Receivable [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 726 | 5,906 | 1,798 |
Unpaid Principal Balance | 726 | 8,840 | 2,864 |
Related Allowance | 117 | 1,264 | 99 |
Average Recorded Investment | 733 | 6,386 | 1,929 |
Total impaired loans with a related allowance [Member] | Consumer Loan [Member] | Consumer Installment Financing Receivable [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 29,675 | 34,654 | 33,571 |
Unpaid Principal Balance | 29,675 | 34,703 | 33,723 |
Related Allowance | 1,674 | 1,568 | 1,382 |
Average Recorded Investment | 30,361 | 34,485 | 33,742 |
Total impaired loans with a related allowance [Member] | Consumer Loan [Member] | Consumer Home Equity Lines Financing Receivable [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 5,963 | 4,413 | 4,763 |
Unpaid Principal Balance | 5,963 | 4,412 | 4,763 |
Related Allowance | 95 | 52 | 31 |
Average Recorded Investment | 6,206 | 4,581 | 4,996 |
Total impaired loans with a related allowance [Member] | Consumer Loan [Member] | Consumer Credit Card Financing Receivable [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 1,763 | 2,359 | 2,202 |
Unpaid Principal Balance | 1,763 | 2,359 | 2,202 |
Related Allowance | 106 | 121 | 108 |
Average Recorded Investment | 1,975 | 2,560 | 2,497 |
Total impaired loans with a related allowance [Member] | Consumer Loan [Member] | Consumer Residential Mortgages Financing Receivable [Member]
|
|||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment | 13,876 | 13,444 | 13,154 |
Unpaid Principal Balance | 13,967 | 13,469 | 13,167 |
Related Allowance | 1,599 | 1,346 | 1,364 |
Average Recorded Investment | $ 13,946 | $ 13,409 | $ 13,155 |
Benefit Plans (Schedule of Net Benefit Costs) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
|
Pension Benefits [Member]
|
||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 1,799 | $ 1,531 | $ 5,397 | $ 4,593 |
Interest cost | 2,965 | 2,860 | 8,895 | 8,580 |
Expected return on assets | (3,034) | (3,328) | (9,102) | (9,984) |
Amortization of prior service costs | 97 | 98 | 291 | 294 |
Cumulative net loss | 2,593 | 1,780 | 7,779 | 5,340 |
Net periodic pension/postretirement cost (benefit) | 4,420 | 2,941 | 13,260 | 8,823 |
Postretirement Benefits [Member]
|
||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 19 | 14 | 57 | 42 |
Interest cost | 174 | 221 | 522 | 663 |
Amortization of prior service costs | (117) | 0 | (351) | 0 |
Cumulative net loss | 72 | 28 | 216 | 84 |
Net periodic pension/postretirement cost (benefit) | $ 148 | $ 263 | $ 444 | $ 789 |
Derivatives and Hedging Activities (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2012
|
Dec. 31, 2011
|
Sep. 30, 2011
|
|||||||
---|---|---|---|---|---|---|---|---|---|---|
Derivatives designated in hedge relationships | ||||||||||
Derivative Asset, Fair Value | $ 68,047 | $ 62,056 | $ 65,318 | |||||||
Derivative Liability, Fair Value | 84,938 | 86,106 | 89,657 | |||||||
Interest rate swaps [Member] | Designated as Hedging Instrument [Member]
|
||||||||||
Derivatives designated in hedge relationships | ||||||||||
Derivative Asset, Notional/Contract Amount | 0 | 819 | 0 | |||||||
Derivative Asset, Fair Value | 0 | [1] | 0 | [1] | 0 | [1] | ||||
Derivative Liability, Notional/Contract Amount | 182,950 | 234,330 | 248,447 | |||||||
Derivative Liability, Fair Value | $ 22,071 | [2] | $ 25,889 | [2] | $ 28,278 | [2] | ||||
|
Loans (Details 3) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2012
|
Dec. 31, 2011
|
Sep. 30, 2011
|
|||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | $ 8,316,420 | |||||||||||
Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 8,260,426 | 7,635,776 | 7,453,613 | |||||||||
Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 55,994 | 113,168 | 177,959 | |||||||||
Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 1,043,058 | [1] | 1,291,476 | [2] | 1,426,747 | [3] | ||||||
Commercial Real Estate Other Receivable [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 2,121,124 | 1,992,193 | 1,956,226 | |||||||||
Commercial Real Estate Other Receivable [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 32,218 | 62,743 | 107,795 | |||||||||
Commercial Real Estate Other Receivable [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 623,274 | [1] | 777,848 | [2] | 878,218 | [3] | ||||||
Commercial Real Estate Other Receivable [Member] | Grade Two [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 3,170 | 4,218 | 3,843 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Two [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Two [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Three [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 278,017 | 249,382 | 245,756 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Three [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 1,871 | 1,968 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Three [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 449 | 516 | 538 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Four [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 1,709,667 | 1,548,420 | 1,490,214 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Four [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 28,590 | 55,129 | 98,668 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Four [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 240,630 | 303,231 | 343,697 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Five [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 53,980 | 58,942 | 73,815 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Five [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 675 | 0 | 0 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Five [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 39,883 | 103,919 | 154,591 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Six [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 76,290 | 130,968 | 130,584 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Six [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 2,953 | 5,743 | 6,491 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Six [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 340,063 | 344,445 | 348,152 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Seven [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 263 | 715 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Seven [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 668 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade Seven [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 2,249 | 25,737 | 31,240 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade One [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 11,299 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade One [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Real Estate Other Receivable [Member] | Grade One [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 309,105 | 277,335 | 252,578 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 61,776 | 89,909 | 100,054 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Two [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 615 | 620 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Two [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Two [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Three [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 19,312 | 16,752 | 18,067 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Three [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Three [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Four [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 282,438 | 241,302 | 209,307 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Four [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Four [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 494 | 487 | 4,207 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Five [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 2,893 | 4,583 | 4,851 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Five [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Five [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 1,567 | 1,992 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Six [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 4,462 | 14,083 | 18,304 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Six [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Six [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 58,586 | 80,009 | 83,051 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Seven [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Seven [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade Seven [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 2,696 | 7,846 | 10,804 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade One [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 1,429 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade One [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Real Estate Construction Financing Receivable [Member] | Grade One [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 110,938 | 73,530 | 57,992 | |||||||||
Commercial Leases Financing Receivable [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Two [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 190 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Two [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Two [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Three [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 8,857 | 5,868 | 4,219 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Three [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Three [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Four [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 87,259 | 57,026 | 53,771 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Four [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Four [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Five [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 514 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Five [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Five [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Six [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 333 | 0 | 2 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Six [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Six [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Seven [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Seven [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade Seven [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade One [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 13,785 | 10,636 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade One [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial Leases Financing Receivable [Member] | Grade One [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 3,046,815 | 2,748,702 | 2,657,990 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 2,416 | 26,774 | 44,268 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 162,691 | [1] | 197,539 | [2] | 217,394 | [3] | ||||||
Commercial and Industrial Financing Receivable [Member] | Grade Two [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 105,504 | 122,124 | 100,058 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Two [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Two [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 1,742 | 1,376 | 1,801 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Three [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 573,561 | 479,119 | 487,017 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Three [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 3 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Three [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 92 | 0 | 0 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Four [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 2,213,241 | 1,973,671 | 1,930,074 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Four [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 2,095 | 26,036 | 43,250 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Four [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 91,101 | 109,360 | 101,794 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Five [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 60,544 | 50,789 | 49,251 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Five [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 259 | 0 | 160 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Five [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 3,844 | 9,661 | 32,094 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Six [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 56,638 | 85,392 | 43,417 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Six [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 62 | 738 | 855 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Six [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 61,192 | 69,330 | 78,153 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Seven [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Seven [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade Seven [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 4,720 | 6,864 | 2,637 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade One [Member] | Legacy Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 37,327 | 37,607 | 48,173 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade One [Member] | Acquired Loans Noncovered [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | 0 | 0 | 0 | |||||||||
Commercial and Industrial Financing Receivable [Member] | Grade One [Member] | Covered Loans [Member]
|
||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||
Financing Receivable | $ 0 | $ 948 | $ 915 | |||||||||
|
Restructuring
|
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2012
|
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Restructuring [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Related Activities Disclosure [Text Block] | Restructuring During the quarter ended June 30, 2012, Management announced its implementation plans to enhance the operating efficiency and profitability of the Corporation. The efficiency initiative is a long-term plan to optimize service channels and lower the overall cost structure. It includes the elimination of assistant branch manager positions and closing of eight full service branches. As a result of the initiative, the Corporation estimated that it would reduce its workforce by approximately 340 positions. The elimination of the assistant branch manager positions represent the majority of those reductions. The majority of these positions were eliminated as of June 30, 2012. Management expects to complete its reduction in workforce by December 31, 2012. All branch closures occurred in the quarter ended September 30, 2012. During the quarter ended September 30, 2012, the Corporation recognized the balance of estimated restructuring costs of $0.5 million which primarily consisted of costs associated with the closing of the branches. The following table summarizes the restructuring activity, including the reserves established and the total amount expected to be incurred.
Severance expense of $3.3 million was recognized in the quarter ended June 30, 2012. The remaining obligation related to employee separation costs is included in accrued taxes, expenses and other liabilities in the accompanying unaudited consolidated balance sheets as of September 30, 2012. The Corporation recognized $5.2 million in professional service fees in the quarter ended June 30, 2012 related to the efficiency initiative which was reported in professional services in the accompanying unaudited consolidated statements of comprehensive income. Other costs include costs related to closing the branches and other expenditures associated with the Corporation's restructuring initiative and are expensed as incurred. |
Segment Information (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
|
OPERATIONS: | ||||
Net interest income (loss) | $ 117,890 | $ 119,392 | $ 355,600 | $ 358,659 |
Provision for loan losses | 16,179 | 19,372 | 42,436 | 59,340 |
Other income | 54,925 | 60,772 | 161,952 | 165,019 |
Other expenses | 108,587 | 115,957 | 341,432 | 340,470 |
Net income (loss) | 34,953 | 31,737 | 95,882 | 89,060 |
SegmentReportingInformationAverageAssets1 | 14,734,016 | 14,610,628 | 14,596,526 | 14,451,550 |
Commercial [Member]
|
||||
OPERATIONS: | ||||
Net interest income (loss) | 65,446 | 65,998 | 193,776 | 198,197 |
Provision for loan losses | 10,401 | 4,546 | 22,970 | 29,653 |
Other income | 15,247 | 16,219 | 47,603 | 43,632 |
Other expenses | 39,595 | 36,745 | 123,074 | 110,073 |
Net income (loss) | 19,954 | 40,644 | 61,967 | 100,519 |
SegmentReportingInformationAverageAssets1 | 6,466,355 | 6,258,625 | 6,386,617 | 6,162,742 |
Retail [Member]
|
||||
OPERATIONS: | ||||
Net interest income (loss) | 51,181 | 56,705 | 158,745 | 168,718 |
Provision for loan losses | 1,194 | 5,249 | 5,459 | 17,715 |
Other income | 26,783 | 28,333 | 76,226 | 78,309 |
Other expenses | 53,788 | 57,567 | 169,618 | 177,201 |
Net income (loss) | 14,939 | 20,464 | 38,931 | 45,779 |
SegmentReportingInformationAverageAssets1 | 2,960,336 | 2,925,345 | 2,929,911 | 2,937,888 |
Wealth [Member]
|
||||
OPERATIONS: | ||||
Net interest income (loss) | 4,223 | 4,568 | 13,412 | 14,205 |
Provision for loan losses | (519) | 1,261 | (318) | 2,587 |
Other income | 8,528 | 7,784 | 24,987 | 24,066 |
Other expenses | 9,711 | 10,004 | 29,718 | 30,363 |
Net income (loss) | 2,313 | 1,199 | 5,849 | 5,420 |
SegmentReportingInformationAverageAssets1 | 242,539 | 237,638 | 238,899 | 240,919 |
Other [Member]
|
||||
OPERATIONS: | ||||
Net interest income (loss) | (2,960) | (7,879) | (10,333) | (22,461) |
Provision for loan losses | 5,103 | 8,316 | 14,325 | 9,385 |
Other income | 4,367 | 8,436 | 13,136 | 19,012 |
Other expenses | 5,493 | 11,641 | 19,022 | 22,833 |
Net income (loss) | (2,253) | (30,570) | (10,865) | (62,658) |
SegmentReportingInformationAverageAssets1 | $ 5,064,786 | $ 5,189,020 | $ 5,041,099 | $ 5,110,001 |