Loans and leases (Tables)

12 Months Ended

Dec. 31, 2012

Total Loans and Leases Outstanding

Total loans and leases outstanding were comprised of the following:

	December 31
	2012			2011
	(In thousands)
Loans
Commercial, financial, etc	$	16,500,202		$	14,419,490
Real estate:
Residential		11,161,323			7,889,569
Commercial		22,333,036			20,312,648
Construction		3,772,413			4,203,324
Consumer		11,550,274			12,020,229
Total loans		65,317,248			58,845,260
Leases
Commercial		1,472,938			1,532,615
Total loans and leases		66,790,186			60,377,875
Less: unearned discount		(219,229	)		(281,870	)
Total loans and leases, net of unearned discount	$	66,570,957		$	60,096,005

Outstanding Principal Balance and Carrying Amount of Loans that is Included in Consolidated Balance Sheet

The outstanding principal balance and the carrying amount of acquired loans that were recorded at fair value at the acquisition date that is included in the consolidated balance sheet were as follows:

	December 31
	2012		2011
	(In thousands)
Outstanding principal balance	$	6,705,120	$	9,203,366
Carrying amount:
Commercial, financial, leasing, etc		928,107		1,331,198
Commercial real estate		2,567,050		3,879,518
Residential real estate		707,309		915,371
Consumer		1,637,887		2,033,700
	$	5,840,353	$	8,159,787

Summary of Changes in Accretable Yield for Acquired Loans

A summary of changes in the accretable yield for acquired loans for the years ended December 31, 2012, 2011 and 2010 follows:

For Year Ended December 31,	2012						2011						2010
	Purchased			Other			Purchased			Other			Purchased			Other
	Impaired			Acquired			Impaired			Acquired			Impaired			Acquired
							(In thousands)
Balance at beginning of period	$	30,805		$	807,960		$	9,245		$	447,505		$	4,318		$	531,546
Additions		—			—			39,358			648,631			4,922			13,747
Interest income		(40,551	)		(295,654	)		(26,221	)		(268,315	)		(5,826	)		(171,207	)
Reclassifications from (to) nonaccretable balance, net		51,998			148,490			8,629			1,800			5,831			34,000
Other (a)		—			(22,524	)		(206	)		(21,661	)		—			39,419
Balance at end of period	$	42,252		$	638,272		$	30,805		$	807,960		$	9,245		$	447,505

(a) Other changes in expected cash flows including changes in interest rates and prepayment assumptions.

Summary of Current, Past Due and Nonaccrual Loans

A summary of current, past due and nonaccrual loans as of December 31, 2012 and 2011 were as follows:

					90 Days or More Past Due and Accruing
	Current		30-89 Days Past Due		Non- acquired		Acquired(a)		Purchased Impaired (b)		Nonaccrual		Total
	(In thousands)
December 31, 2012
Commercial, financial, leasing, etc.	$	17,511,052	$	62,479	$	23,490	$	10,587	$	17,437	$	151,908	$	17,776,953
Real estate:
Commercial		21,759,997		118,249		13,111		54,995		132,962		193,859		22,273,173
Residential builder and developer		757,311		35,419		3,258		23,909		187,764		181,865		1,189,526
Other commercial construction		2,379,953		35,274		509		9,572		68,971		36,812		2,531,091
Residential		9,811,956		337,969		313,184		45,124		36,769		249,314		10,794,316
Residential Alt-A		331,021		19,692		—		—		—		95,808		446,521
Consumer:
Home equity lines and loans		6,199,591		40,759		—		20,318		3,211		58,071		6,321,950
Automobile		2,442,502		40,461		—		251		—		25,107		2,508,321
Other		2,661,432		40,599		4,845		1,798		—		20,432		2,729,106
Total	$	63,854,815	$	730,901	$	358,397	$	166,554	$	447,114	$	1,013,176	$	66,570,957
December 31, 2011
Commercial, financial, leasing, etc.	$	15,493,803	$	37,112	$	7,601	$	8,560	$	23,762	$	163,598	$	15,734,436
Real estate:
Commercial		19,658,761		172,641		9,983		54,148		192,804		171,111		20,259,448
Residential builder and developer		845,680		49,353		13,603		21,116		297,005		281,576		1,508,333
Other commercial construction		2,393,304		41,049		968		23,582		78,105		106,325		2,643,333
Residential		6,626,182		256,017		250,472		37,982		56,741		172,681		7,400,075
Residential Alt-A		383,834		34,077		—		—		—		105,179		523,090
Consumer:
Home equity lines and loans		6,570,675		43,516		—		15,409		4,635		47,150		6,681,385
Automobile		2,644,330		48,342		—		601		—		26,835		2,720,108
Other		2,551,225		43,547		5,249		2,340		310		23,126		2,625,797
Total	$	57,167,794	$	725,654	$	287,876	$	163,738	$	653,362	$	1,097,581	$	60,096,005

(a) Acquired loans that were recorded at fair value at acquisition date. This category does not include purchased impaired loans that are presented separately.

(b) Accruing loans that were impaired at acquisition date and were recorded at fair value.

Loan Modification Activities that were Considered Troubled Debt Restructurings

The table below summarizes the Company’s loan modification activities that were considered troubled debt restructurings for the year ended December 31, 2012:

			Recorded Investment				Financial Effects of Modification
	Number		Pre- modifica- tion		Post- modifica- tion		Recorded Investment (a)			Interest (b)
	(Dollars in thousands)
Commercial, financial, leasing, etc.
Principal deferral		61	$	23,888	$	22,456	$	(1,432	)	$	—
Other		3		2,967		3,052		85			—
Combination of concession types		5		628		740		112			(102	)
Real estate:
Commercial
Principal deferral		24		22,855		23,059		204			—
Interest rate reduction		2		665		708		43			(129	)
Combination of concession types		7		1,637		1,656		19			(351	)
Residential builder and developer
Principal deferral		23		36,868		34,740		(2,128	)		—
Combination of concession types		7		37,602		36,148		(1,454	)		—
Other commercial construction
Principal deferral		6		81,062		79,312		(1,750	)		—
Residential
Principal deferral		36		4,643		4,808		165			—
Interest rate reduction		1		109		109		—			(20	)
Combination of concession types		62		12,886		13,146		260			(657	)
Residential Alt-A
Principal deferral		7		968		989		21			—
Combination of concession types		38		8,525		8,717		192			(159	)
Consumer:
Home equity lines and loans
Principal deferral		15		1,285		1,285		—			—
Interest rate reduction		1		144		144		—			(6	)
Combination of concession types		29		2,332		2,332		—			(368	)
Automobile
Principal deferral		618		8,347		8,347		—			—
Interest rate reduction		22		328		328		—			(24	)
Other		67		300		300		—			—
Combination of concession types		375		5,857		5,857		—			(684	)
Other
Principal deferral		80		1,201		1,201		—			—
Interest rate reduction		22		515		515		—			(85	)
Other		13		54		54		—			—
Combination of concession types		84		1,015		1,015		—			(268	)
Total		1,608	$	256,681	$	251,018	$	(5,663	)	$	(2,853	)

(a) Financial effects impacting the recorded investment included principal payments or advances, charge-offs and capitalized escrow arrearages.

(b) Represents the present value of interest rate concessions discounted at the effective rate of the original loan.

The table below summarizes the Company’s loan modification activities that were considered troubled debt restructurings for the year ended December 31, 2011:

			Recorded Investment				Financial Effects of Modification
	Number		Pre- modifica- tion		Post- modifica- tion		Recorded Investment (a)			Interest (b)
	(Dollars in thousands)
Commercial, financial, leasing, etc.
Principal deferral		53	$	10,703	$	10,778	$	75		$	—
Combination of concession types		3		2,049		2,046		(3	)		(654	)
Real estate:
Commercial
Principal deferral		29		16,804		16,704		(100	)		—
Combination of concession types		3		15,778		15,777		(1	)		(1,463	)
Residential builder and developer
Principal deferral		9		33,208		26,811		(6,397	)		—
Other		6		118,114		110,156		(7,958	)		—
Combination of concession types		5		2,540		2,561		21			—
Other commercial construction
Principal deferral		3		8,436		8,553		117			—
Combination of concession types		3		65,813		60,973		(4,840	)		—
Residential
Principal deferral		37		8,175		8,235		60			—
Interest rate reduction		14		1,926		1,991		65			(318	)
Combination of concession types		111		19,508		19,934		426			(1,559	)
Residential Alt-A
Principal deferral		3		800		835		35			—
Combination of concession types		34		6,813		6,978		165			(889	)
Consumer:
Home equity lines and loans
Principal deferral		3		259		259		—			—
Other		3		86		86		—			—
Combination of concession types		26		2,156		2,158		2			(444	)
Automobile
Principal deferral		746		10,053		10,053		—			—
Interest rate reduction		17		183		183		—			(13	)
Other		111		739		739		—			—
Combination of concession types		431		6,703		6,703		—			(808	)
Other
Principal deferral		23		400		400		—			—
Interest rate reduction		1		8		8		—			(1	)
Other		4		103		103		—			—
Combination of concession types		102		803		803		—			(189	)
Total		1,780	$	332,160	$	313,827	$	(18,333	)	$	(6,338	)

(a) Financial effects impacting the recorded investment included principal payments or advances, charge-offs and capitalized escrow arrearages.

(b) Represents the present value of interest rate concessions discounted at the effective rate of the original loan.

Summary of Lease Financing Receivables

A summary of lease financing receivables follows:

	December 31
	2012			2011
	(In thousands)
Commercial leases:
Direct financings:
Lease payments receivable	$	1,106,434		$	1,137,310
Estimated residual value of leased assets		96,468			96,479
Unearned income		(134,428	)		(153,704	)
Investment in direct financings		1,068,474			1,080,085
Leveraged leases:
Lease payments receivable		132,466			154,551
Estimated residual value of leased assets		137,570			144,275
Unearned income		(50,378	)		(53,847	)
Investment in leveraged leases		219,658			244,979
Total investment in leases.	$	1,288,132		$	1,325,064
Deferred taxes payable arising from leveraged leases	$	172,026		$	180,731

Minimum Future Lease Payments to be Received from Lease Financings

At December 31, 2012, the minimum future lease payments to be received from lease financings were as follows:

	Total
	(In thousands)
Year ending December 31:
2013	$	279,758
2014		243,227
2015		190,000
2016		148,341
2017		85,699
Later years		291,875
	$	1,238,900