Maryland | 31-0724920 |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
Large accelerated filer | x | Accelerated filer | ¨ |
Non-accelerated filer | ¨ (Do not check if a smaller reporting company) | Smaller reporting company | ¨ |
ABL | Asset Based Lending | |
ABS | Asset-Backed Securities | |
ACL | Allowance for Credit Losses | |
AFCRE | Automobile Finance and Commercial Real Estate | |
AFS | Available-for-Sale | |
ALCO | Asset-Liability Management Committee | |
ALLL | Allowance for Loan and Lease Losses | |
ARM | Adjustable Rate Mortgage | |
ASC | Accounting Standards Codification | |
ASU | Accounting Standards Update | |
ATM | Automated Teller Machine | |
AULC | Allowance for Unfunded Loan Commitments | |
Basel III | Refers to the final rule issued by the FRB and OCC and published in the Federal Register on October 11, 2013 | |
C&I | Commercial and Industrial | |
Camco Financial | Camco Financial Corp. | |
CCAR | Comprehensive Capital Analysis and Review | |
CDO | Collateralized Debt Obligations | |
CDs | Certificate of Deposit | |
CET1 | Common equity tier 1 on a transitional Basel III basis | |
CFPB | Bureau of Consumer Financial Protection | |
CFTC | Commodity Futures Trading Commission | |
CMO | Collateralized Mortgage Obligations | |
CRE | Commercial Real Estate | |
Dodd-Frank Act | Dodd-Frank Wall Street Reform and Consumer Protection Act | |
DTA/DTL | Deferred Tax Asset/Deferred Tax Liability | |
E&P | Exploration and Production | |
EFT | Electronic Fund Transfer | |
EPS | Earnings Per Share | |
EVE | Economic Value of Equity | |
Fannie Mae | (see FNMA) | |
FASB | Financial Accounting Standards Board | |
FDIC | Federal Deposit Insurance Corporation | |
FDICIA | Federal Deposit Insurance Corporation Improvement Act of 1991 | |
FHA | Federal Housing Administration | |
FHLB | Federal Home Loan Bank | |
FHLMC | Federal Home Loan Mortgage Corporation | |
FICO | Fair Isaac Corporation | |
FirstMerit | FirstMerit Corporation | |
FNMA | Federal National Mortgage Association | |
FRB | Federal Reserve Bank | |
Freddie Mac | (see FHLMC) | |
FTE | Fully-Taxable Equivalent | |
FTP | Funds Transfer Pricing | |
GAAP | Generally Accepted Accounting Principles in the United States of America | |
GNMA | Government National Mortgage Association, or Ginnie Mae | |
HAA | Huntington Asset Advisors, Inc. | |
HAMP | Home Affordable Modification Program | |
HARP | Home Affordable Refinance Program | |
HASI | Huntington Asset Services, Inc. | |
HIP | Huntington Investment and Tax Savings Plan | |
HQLA | High Quality Liquid Asset | |
HTM | Held-to-Maturity | |
IRS | Internal Revenue Service | |
LCR | Liquidity Coverage Ratio | |
LGD | Loss-Given-Default | |
LIBOR | London Interbank Offered Rate | |
LIHTC | Low Income Housing Tax Credit | |
LTD | Long-Term Debt | |
LTV | Loan to Value | |
Macquarie | Macquarie Equipment Finance, Inc. (U.S. operations) | |
MBS | Mortgage-Backed Securities | |
MD&A | Management’s Discussion and Analysis of Financial Condition and Results of Operations | |
MSA | Metropolitan Statistical Area | |
MSR | Mortgage Servicing Rights | |
NAICS | North American Industry Classification System | |
NALs | Nonaccrual Loans | |
NCO | Net Charge-off | |
NII | Net Interest Income | |
NIM | Net Interest Margin | |
NPA | Nonperforming Asset | |
N.R. | Not relevant. Denominator of calculation is a gain in the current period compared with a loss in the prior period, or vice-versa | |
OCC | Office of the Comptroller of the Currency | |
OCI | Other Comprehensive Income (Loss) | |
OCR | Optimal Customer Relationship | |
OLEM | Other Loans Especially Mentioned | |
OREO | Other Real Estate Owned | |
OTTI | Other-Than-Temporary Impairment | |
PD | Probability-Of-Default | |
Plan | Huntington Bancshares Retirement Plan | |
Problem Loans | Includes nonaccrual loans and leases (Table 9), troubled debt restructured loans (Table 10), accruing loans and leases past due 90 days or more (aging analysis section of Footnote 4), and Criticized commercial loans (credit quality indicators section of Footnote 4). | |
RBHPCG | Regional Banking and The Huntington Private Client Group | |
RCSA | Risk and Control Self-Assessments | |
REIT | Real Estate Investment Trust | |
ROC | Risk Oversight Committee | |
RWA | Risk-Weighted Assets | |
SAD | Special Assets Division | |
SBA | Small Business Administration | |
SEC | Securities and Exchange Commission | |
SERP | Supplemental Executive Retirement Plan | |
SRIP | Supplemental Retirement Income Plan | |
SSFA | Simplified Supervisory Formula Approach | |
TCE | Tangible Common Equity | |
TDR | Troubled Debt Restructured Loan | |
TRUPS | Trust Preferred Securities | |
U.S. Treasury | U.S. Department of the Treasury | |
UCS | Uniform Classification System | |
UDAP | Unfair or Deceptive Acts or Practices | |
Unified | Unified Financial Securities, Inc. | |
UPB | Unpaid Principal Balance | |
USDA | U.S. Department of Agriculture | |
VIE | Variable Interest Entity | |
XBRL | eXtensible Business Reporting Language | |
• | Executive Overview - Provides a summary of our current financial performance and business overview, including our thoughts on the impact of the economy, legislative and regulatory initiatives, and recent industry developments. This section also provides our outlook regarding our expectations for the next several quarters. |
• | Discussion of Results of Operations - Reviews financial performance from a consolidated Company perspective. It also includes a Significant Items section that summarizes key issues helpful for understanding performance trends. Key consolidated average balance sheet and income statement trends are also discussed in this section. |
• | Risk Management and Capital - Discusses credit, market, liquidity, operational, and compliance risks, including how these are managed, as well as performance trends. It also includes a discussion of liquidity policies, how we obtain funding, and related performance. In addition, there is a discussion of guarantees and/or commitments made for items such as standby letters of credit and commitments to sell loans, and a discussion that reviews the adequacy of capital, including regulatory capital requirements. |
• | Business Segment Discussion - Provides an overview of financial performance for each of our major business segments and provides additional discussion of trends underlying consolidated financial performance. |
• | Additional Disclosures - Provides comments on important matters including forward-looking statements, critical accounting policies and use of significant estimates, and recent accounting pronouncements and developments. |
Table 1 - Selected Quarterly Income Statement Data (1) | |||||||||||||||||||
(dollar amounts in thousands, except per share amounts) | |||||||||||||||||||
Three months ended | |||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | |||||||||||||||
2016 | 2016 | 2015 | 2015 | 2015 | |||||||||||||||
Interest income | $ | 565,658 | $ | 557,251 | $ | 544,153 | $ | 538,477 | $ | 529,795 | |||||||||
Interest expense | 59,777 | 54,185 | 47,242 | 43,022 | 39,109 | ||||||||||||||
Net interest income | 505,881 | 503,066 | 496,911 | 495,455 | 490,686 | ||||||||||||||
Provision for credit losses | 24,509 | 27,582 | 36,468 | 22,476 | 20,419 | ||||||||||||||
Net interest income after provision for credit losses | 481,372 | 475,484 | 460,443 | 472,979 | 470,267 | ||||||||||||||
Service charges on deposit accounts | 75,613 | 70,262 | 72,854 | 75,157 | 70,118 | ||||||||||||||
Cards and payment processing income | 39,184 | 36,447 | 37,594 | 36,664 | 35,886 | ||||||||||||||
Mortgage banking income | 31,591 | 18,543 | 31,418 | 18,956 | 38,518 | ||||||||||||||
Trust services | 22,497 | 22,838 | 25,272 | 24,972 | 26,550 | ||||||||||||||
Insurance income | 15,947 | 16,225 | 15,528 | 16,204 | 17,637 | ||||||||||||||
Brokerage income | 14,599 | 15,502 | 14,462 | 15,059 | 15,184 | ||||||||||||||
Capital markets fees | 13,037 | 13,010 | 13,778 | 12,741 | 13,192 | ||||||||||||||
Bank owned life insurance income | 12,536 | 13,513 | 13,441 | 12,719 | 13,215 | ||||||||||||||
Gain on sale of loans | 9,265 | 5,395 | 10,122 | 5,873 | 12,453 | ||||||||||||||
Securities gains (losses) | 656 | — | 474 | 188 | 82 | ||||||||||||||
Other income | 36,187 | 30,132 | 37,272 | 34,586 | 38,938 | ||||||||||||||
Total noninterest income | 271,112 | 241,867 | 272,215 | 253,119 | 281,773 | ||||||||||||||
Personnel costs | 298,949 | 285,397 | 288,861 | 286,270 | 282,135 | ||||||||||||||
Outside data processing and other services | 63,037 | 61,878 | 63,775 | 58,535 | 58,508 | ||||||||||||||
Equipment | 31,805 | 32,576 | 31,711 | 31,303 | 31,694 | ||||||||||||||
Net occupancy | 30,704 | 31,476 | 32,939 | 29,061 | 28,861 | ||||||||||||||
Marketing | 14,773 | 12,268 | 12,035 | 12,179 | 15,024 | ||||||||||||||
Professional services | 21,488 | 13,538 | 13,010 | 11,961 | 12,593 | ||||||||||||||
Deposit and other insurance expense | 12,187 | 11,208 | 11,105 | 11,550 | 11,787 | ||||||||||||||
Amortization of intangibles | 3,600 | 3,712 | 3,788 | 3,913 | 9,960 | ||||||||||||||
Other expense | 47,118 | 39,027 | 41,542 | 81,736 | 41,215 | ||||||||||||||
Total noninterest expense | 523,661 | 491,080 | 498,766 | 526,508 | 491,777 | ||||||||||||||
Income before income taxes | 228,823 | 226,271 | 233,892 | 199,590 | 260,263 | ||||||||||||||
Provision for income taxes | 54,283 | 54,957 | 55,583 | 47,002 | 64,057 | ||||||||||||||
Net income | 174,540 | 171,314 | 178,309 | 152,588 | 196,206 | ||||||||||||||
Dividends on preferred shares | 19,874 | 7,998 | 7,972 | 7,968 | 7,968 | ||||||||||||||
Net income applicable to common shares | $ | 154,666 | $ | 163,316 | $ | 170,337 | $ | 144,620 | $ | 188,238 | |||||||||
Average common shares—basic | 798,167 | 795,755 | 796,095 | 800,883 | 806,891 | ||||||||||||||
Average common shares—diluted | 810,371 | 808,349 | 810,143 | 814,326 | 820,238 | ||||||||||||||
Net income per common share—basic | $ | 0.19 | $ | 0.21 | $ | 0.21 | $ | 0.18 | $ | 0.23 | |||||||||
Net income per common share—diluted | 0.19 | 0.20 | 0.21 | 0.18 | 0.23 | ||||||||||||||
Cash dividends declared per common share | 0.07 | 0.07 | 0.07 | 0.06 | 0.06 | ||||||||||||||
Return on average total assets | 0.96 | % | 0.96 | % | 1.00 | % | 0.87 | % | 1.16 | % | |||||||||
Return on average common shareholders’ equity | 9.6 | 10.4 | 10.8 | 9.3 | 12.3 | ||||||||||||||
Return on average tangible common shareholders’ equity (2) | 11.0 | 11.9 | 12.4 | 10.7 | 14.4 | ||||||||||||||
Net interest margin (3) | 3.06 | 3.11 | 3.09 | 3.16 | 3.20 | ||||||||||||||
Efficiency ratio (4) | 66.1 | 64.6 | 63.7 | 69.1 | 61.7 | ||||||||||||||
Effective tax rate | 23.7 | 24.3 | 23.8 | 23.5 | 24.6 | ||||||||||||||
Revenue—FTE | |||||||||||||||||||
Net interest income | $ | 505,881 | $ | 503,066 | $ | 496,911 | $ | 495,455 | $ | 490,686 | |||||||||
FTE adjustment | 10,091 | 9,159 | 8,425 | 8,168 | 7,962 |
Net interest income (3) | 515,972 | 512,225 | 505,336 | 503,623 | 498,648 | ||||||||||||||
Noninterest income | 271,112 | 241,867 | 272,215 | 253,119 | 281,773 | ||||||||||||||
Total revenue (3) | $ | 787,084 | $ | 754,092 | $ | 777,551 | $ | 756,742 | $ | 780,421 |
(1) | Comparisons for presented periods are impacted by a number of factors. Refer to the “Significant Items” for additional discussion regarding these key factors. |
(2) | Net income excluding expense for amortization of intangibles for the period divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity equals average total common shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate. |
(3) | On a fully-taxable equivalent (FTE) basis assuming a 35% tax rate. |
(4) | Noninterest expense less amortization of intangibles and goodwill impairment divided by the sum of FTE net interest income and noninterest income excluding securities gains. |
Table 2 - Selected Year to Date Income Statement Data (1) | ||||||||||||||
(dollar amounts in thousands, except per share amounts) | ||||||||||||||
Six months ended June 30, | Change | |||||||||||||
2016 | 2015 | Amount | Percent | |||||||||||
Interest income | $ | 1,122,909 | $ | 1,031,891 | $ | 91,018 | 9 | % | ||||||
Interest expense | 113,962 | 73,520 | 40,442 | 55 | ||||||||||
Net interest income | 1,008,947 | 958,371 | 50,576 | 5 | ||||||||||
Provision for credit losses | 52,091 | 41,010 | 11,081 | 27 | ||||||||||
Net interest income after provision for credit losses | 956,856 | 917,361 | 39,495 | 4 | ||||||||||
Service charges on deposit accounts | 145,875 | 132,338 | 13,537 | 10 | ||||||||||
Cards and payment processing income | 75,631 | 68,457 | 7,174 | 10 | ||||||||||
Mortgage banking income | 50,134 | 61,479 | (11,345 | ) | (18 | ) | ||||||||
Trust services | 45,335 | 55,589 | (10,254 | ) | (18 | ) | ||||||||
Insurance income | 32,172 | 33,532 | (1,360 | ) | (4 | ) | ||||||||
Brokerage income | 30,101 | 30,684 | (583 | ) | (2 | ) | ||||||||
Capital markets fees | 26,047 | 27,097 | (1,050 | ) | (4 | ) | ||||||||
Bank owned life insurance income | 26,049 | 26,240 | (191 | ) | (1 | ) | ||||||||
Gain on sale of loans | 14,660 | 17,042 | (2,382 | ) | (14 | ) | ||||||||
Securities gains (losses) | 656 | 82 | 574 | 700 | ||||||||||
Other income | 66,319 | 60,856 | 5,463 | 9 | ||||||||||
Total noninterest income | 512,979 | 513,396 | (417 | ) | — | |||||||||
Personnel costs | 584,346 | 547,051 | 37,295 | 7 | ||||||||||
Outside data processing and other services | 124,915 | 109,043 | 15,872 | 15 | ||||||||||
Equipment | 64,381 | 61,943 | 2,438 | 4 | ||||||||||
Net occupancy | 62,180 | 59,881 | 2,299 | 4 | ||||||||||
Marketing | 27,041 | 27,999 | (958 | ) | (3 | ) | ||||||||
Professional services | 35,026 | 25,320 | 9,706 | 38 | ||||||||||
Deposit and other insurance expense | 23,395 | 21,954 | 1,441 | 7 | ||||||||||
Amortization of intangibles | 7,312 | 20,166 | (12,854 | ) | (64 | ) | ||||||||
Other expense | 86,145 | 77,277 | 8,868 | 11 | ||||||||||
Total noninterest expense | 1,014,741 | 950,634 | 64,107 | 7 | ||||||||||
Income before income taxes | 455,094 | 480,123 | (25,029 | ) | (5 | ) | ||||||||
Provision for income taxes | 109,240 | 118,063 | (8,823 | ) | (7 | ) | ||||||||
Net income | 345,854 | 362,060 | (16,206 | ) | (4 | ) | ||||||||
Dividends declared on preferred shares | 27,872 | 15,933 | 11,939 | 75 | ||||||||||
Net income applicable to common shares | $ | 317,982 | $ | 346,127 | $ | (28,145 | ) | (8 | )% | |||||
Average common shares—basic | 796,961 | 808,335 | (11,374 | ) | (1 | )% | ||||||||
Average common shares—diluted | 809,360 | 822,023 | (12,663 | ) | (2 | ) | ||||||||
Net income per common share—basic | $ | 0.40 | $ | 0.43 | $ | (0.03 | ) | (7 | ) | |||||
Net income per common share—diluted | 0.39 | 0.42 | (0.03 | ) | (7 | ) | ||||||||
Cash dividends declared per common share | 0.14 | 0.12 | 0.02 | 17 | ||||||||||
Revenue—FTE | ||||||||||||||
Net interest income | $ | 1,008,947 | $ | 958,371 | $ | 50,576 | 5 | % | ||||||
FTE adjustment | 19,250 | 15,522 | 3,728 | 24 | ||||||||||
Net interest income (2) | 1,028,197 | 973,893 | 54,304 | 6 | ||||||||||
Noninterest income | 512,979 | 513,396 | (417 | ) | — | |||||||||
Total revenue (2) | $ | 1,541,176 | $ | 1,487,289 | $ | 53,887 | 4 | % |
(1) | Comparisons for presented periods are impacted by a number of factors. Refer to the “Significant Items” for additional discussion regarding these key factors. |
(2) | On a fully taxable equivalent (FTE) basis assuming a 35% tax rate. |
• | During the 2016 second quarter, $21 million of noninterest expense was recorded related to the pending acquisition of FirstMerit. This resulted in a negative impact of $0.02 per common share. |
• | During the 2016 first quarter, $6 million of noninterest expense was recorded related to the pending acquisition of FirstMerit. This resulted in a negative impact of $0.01 per common share. |
Table 3 - Significant Items Influencing Earnings Performance Comparison | |||||||||||||||||||||||
(dollar amounts in thousands, except per share amounts) | |||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||
June 30, 2016 | March 31, 2016 | June 30, 2015 (4) | |||||||||||||||||||||
After-tax | EPS (2)(3) | After-tax | EPS (2)(3) | After-tax | EPS (2)(3) | ||||||||||||||||||
Net income | $ | 174,540 | $ | 171,314 | $ | 196,206 | |||||||||||||||||
Earnings per share, after-tax | $ | 0.19 | $ | 0.20 | $ | 0.23 | |||||||||||||||||
Significant Items—favorable (unfavorable) impact: | Earnings (1) | EPS (2)(3) | Earnings (1) | EPS (2)(3) | Earnings (1) | EPS (2)(3) | |||||||||||||||||
Mergers and acquisitions, net | $ | (20,789 | ) | $ | (0.02 | ) | $ | (6,406 | ) | $ | (0.01 | ) | $ | — | $ | — |
(1) | Pretax unless otherwise noted. |
(2) | Based on average outstanding diluted common shares. |
(3) | After-tax. |
(4) | The 2015 second quarter included $2 million of merger-related expense that was not considered a Significant Item for the second quarter of 2015, but merger-related expense was determined to be a Significant Item for the 2015 full year. |
Six Months Ended | |||||||||||||||
June 30, 2016 | June 30, 2015 (4) | ||||||||||||||
After-tax | EPS (2)(3) | After-tax | EPS (2)(3) | ||||||||||||
Net income | $ | 345,854 | $ | 362,060 | |||||||||||
Earnings per share, after-tax | $ | 0.39 | $ | 0.42 | |||||||||||
Significant Items—favorable (unfavorable) impact: | Earnings (1) | EPS (2)(3) | Earnings (1) | EPS (2)(3) | |||||||||||
Mergers and acquisitions, net | $ | (27,195 | ) | $ | (0.03 | ) | $ | — | $ | — |
(1) | Pretax unless otherwise noted. |
(2) | Based on average outstanding diluted common shares. |
(3) | After-tax. |
(4) | The 2015 first and second quarter included $3 million and $2 million, respectively of merger-related expense that was not considered a Significant Item for the first six-month period of 2015, but merger-related expense was determined to be a Significant Item for the 2015 full year. |
Table 4 - Consolidated Average Balance Sheet and Net Interest Margin Analysis (3) | ||||||||||||||||||||||||||
(dollar amounts in millions) | ||||||||||||||||||||||||||
Average Balances | ||||||||||||||||||||||||||
Three Months Ended | Change | |||||||||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | 2Q16 vs. 2Q15 | |||||||||||||||||||||
2016 | 2016 | 2015 | 2015 | 2015 | Amount | Percent | ||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||
Interest-bearing deposits in banks | $ | 99 | $ | 98 | $ | 89 | $ | 89 | $ | 89 | $ | 10 | 11 | % | ||||||||||||
Loans held for sale | 571 | 433 | 502 | 464 | 1,272 | (701 | ) | (55 | ) | |||||||||||||||||
Securities: | ||||||||||||||||||||||||||
Available-for-sale and other securities: | ||||||||||||||||||||||||||
Taxable | 6,904 | 6,633 | 8,099 | 8,310 | 7,916 | (1,012 | ) | (13 | ) | |||||||||||||||||
Tax-exempt | 2,510 | 2,358 | 2,257 | 2,136 | 2,028 | 482 | 24 | |||||||||||||||||||
Total available-for-sale and other securities | 9,414 | 8,991 | 10,356 | 10,446 | 9,944 | (530 | ) | (5 | ) | |||||||||||||||||
Trading account securities | 41 | 40 | 39 | 52 | 41 | — | — | |||||||||||||||||||
Held-to-maturity securities—taxable | 5,806 | 6,054 | 4,148 | 3,226 | 3,324 | 2,482 | 75 | |||||||||||||||||||
Total securities | 15,261 | 15,085 | 14,543 | 13,724 | 13,309 | 1,952 | 15 | |||||||||||||||||||
Loans and leases: (2) | ||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||
Commercial and industrial | 21,344 | 20,649 | 20,186 | 19,802 | 19,819 | 1,525 | 8 | |||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||||
Construction | 881 | 923 | 1,108 | 1,101 | 970 | (89 | ) | (9 | ) | |||||||||||||||||
Commercial | 4,345 | 4,283 | 4,158 | 4,193 | 4,214 | 131 | 3 | |||||||||||||||||||
Commercial real estate | 5,226 | 5,206 | 5,266 | 5,294 | 5,184 | 42 | 1 | |||||||||||||||||||
Total commercial | 26,570 | 25,855 | 25,452 | 25,096 | 25,003 | 1,567 | 6 | |||||||||||||||||||
Consumer: | ||||||||||||||||||||||||||
Automobile | 10,146 | 9,730 | 9,286 | 8,879 | 8,083 | 2,063 | 26 | |||||||||||||||||||
Home equity | 8,416 | 8,441 | 8,463 | 8,526 | 8,503 | (87 | ) | (1 | ) | |||||||||||||||||
Residential mortgage | 6,187 | 6,018 | 6,079 | 6,048 | 5,859 | 328 | 6 | |||||||||||||||||||
Other consumer | 613 | 574 | 547 | 497 | 451 | 162 | 36 | |||||||||||||||||||
Total consumer | 25,362 | 24,763 | 24,375 | 23,950 | 22,896 | 2,466 | 11 | |||||||||||||||||||
Total loans and leases | 51,932 | 50,618 | 49,827 | 49,046 | 47,899 | 4,033 | 8 | |||||||||||||||||||
Allowance for loan and lease losses | (616 | ) | (604 | ) | (595 | ) | (609 | ) | (608 | ) | (8 | ) | 1 | |||||||||||||
Net loans and leases | 51,316 | 50,014 | 49,232 | 48,437 | 47,291 | 4,025 | 9 | |||||||||||||||||||
Total earning assets | 67,863 | 66,234 | 64,961 | 63,323 | 62,569 | 5,294 | 8 | |||||||||||||||||||
Cash and due from banks | 1,001 | 1,013 | 1,468 | 1,555 | 926 | 75 | 8 | |||||||||||||||||||
Intangible assets | 726 | 730 | 734 | 739 | 745 | (19 | ) | (3 | ) | |||||||||||||||||
All other assets | 4,149 | 4,223 | 4,233 | 4,273 | 4,233 | (84 | ) | (2 | ) | |||||||||||||||||
Total assets | $ | 73,123 | $ | 71,596 | $ | 70,801 | $ | 69,281 | $ | 67,865 | $ | 5,258 | 8 | % | ||||||||||||
Liabilities and Shareholders’ Equity: | ||||||||||||||||||||||||||
Deposits: | ||||||||||||||||||||||||||
Demand deposits—noninterest-bearing | $ | 16,507 | $ | 16,334 | $ | 17,174 | $ | 17,017 | $ | 15,893 | $ | 614 | 4 | % | ||||||||||||
Demand deposits—interest-bearing | 8,445 | 7,776 | 6,923 | 6,604 | 6,584 | 1,861 | 28 | |||||||||||||||||||
Total demand deposits | 24,952 | 24,110 | 24,097 | 23,621 | 22,477 | 2,475 | 11 | |||||||||||||||||||
Money market deposits | 19,534 | 19,682 | 19,843 | 19,512 | 18,803 | 731 | 4 | |||||||||||||||||||
Savings and other domestic deposits | 5,402 | 5,306 | 5,215 | 5,224 | 5,273 | 129 | 2 | |||||||||||||||||||
Core certificates of deposit | 2,007 | 2,265 | 2,430 | 2,534 | 2,639 | (632 | ) | (24 | ) | |||||||||||||||||
Total core deposits | 51,895 | 51,363 | 51,585 | 50,891 | 49,192 | 2,703 | 5 | |||||||||||||||||||
Other domestic time deposits of $250,000 or more | 402 | 455 | 426 | 217 | 184 | 218 | 118 | |||||||||||||||||||
Brokered deposits and negotiable CDs | 2,909 | 2,897 | 2,929 | 2,779 | 2,701 | 208 | 8 | |||||||||||||||||||
Deposits in foreign offices | 208 | 264 | 398 | 492 | 562 | (354 | ) | (63 | ) |
Total deposits | 55,414 | 54,979 | 55,338 | 54,379 | 52,639 | 2,775 | 5 | |||||||||||||||||||
Short-term borrowings | 1,032 | 1,145 | 524 | 844 | 2,153 | (1,121 | ) | (52 | ) | |||||||||||||||||
Long-term debt | 7,899 | 7,202 | 6,788 | 6,043 | 5,121 | 2,778 | 54 | |||||||||||||||||||
Total interest-bearing liabilities | 47,838 | 46,992 | 45,476 | 44,249 | 44,020 | 3,818 | 9 | |||||||||||||||||||
All other liabilities | 1,416 | 1,515 | 1,515 | 1,442 | 1,435 | (19 | ) | (1 | ) | |||||||||||||||||
Shareholders’ equity | 7,362 | 6,755 | 6,636 | 6,573 | 6,517 | 845 | 13 | |||||||||||||||||||
Total liabilities and shareholders’ equity | $ | 73,123 | $ | 71,596 | $ | 70,801 | $ | 69,281 | $ | 67,865 | $ | 5,258 | 8 | % |
Table 4 - Consolidated Average Balance Sheet and Net Interest Margin Analysis (Continued) (3) | ||||||||||||||
Average Yield Rates (2) | ||||||||||||||
Three Months Ended | ||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||
Fully-taxable equivalent basis (1) | 2016 | 2016 | 2015 | 2015 | 2015 | |||||||||
Assets: | ||||||||||||||
Interest-bearing deposits in banks | 0.25 | % | 0.21 | % | 0.08 | % | 0.06 | % | 0.08 | % | ||||
Loans held for sale | 3.89 | 3.99 | 4.24 | 3.81 | 3.32 | |||||||||
Securities: | ||||||||||||||
Available-for-sale and other securities: | ||||||||||||||
Taxable | 2.37 | 2.39 | 2.50 | 2.51 | 2.60 | |||||||||
Tax-exempt | 3.38 | 3.40 | 3.15 | 3.12 | 3.13 | |||||||||
Total available-for-sale and other securities | 2.64 | 2.65 | 2.64 | 2.63 | 2.71 | |||||||||
Trading account securities | 0.98 | 0.50 | 1.09 | 0.97 | 1.00 | |||||||||
Held-to-maturity securities—taxable | 2.44 | 2.43 | 2.45 | 2.46 | 2.50 | |||||||||
Total securities | 2.56 | 2.56 | 2.58 | 2.59 | 2.65 | |||||||||
Loans and leases: (3) | ||||||||||||||
Commercial: | ||||||||||||||
Commercial and industrial | 3.49 | 3.52 | 3.47 | 3.58 | 3.61 | |||||||||
Commercial real estate: | ||||||||||||||
Construction | 3.70 | 3.51 | 3.45 | 3.52 | 3.60 | |||||||||
Commercial | 3.35 | 3.59 | 3.31 | 3.43 | 3.41 | |||||||||
Commercial real estate | 3.41 | 3.57 | 3.34 | 3.45 | 3.45 | |||||||||
Total commercial | 3.47 | 3.53 | 3.45 | 3.55 | 3.58 | |||||||||
Consumer: | ||||||||||||||
Automobile | 3.15 | 3.17 | 3.22 | 3.23 | 3.20 | |||||||||
Home equity | 4.17 | 4.20 | 4.01 | 4.01 | 3.97 | |||||||||
Residential mortgage | 3.65 | 3.69 | 3.67 | 3.71 | 3.72 | |||||||||
Other consumer | 10.28 | 10.02 | 9.17 | 8.88 | 8.45 | |||||||||
Total consumer | 3.79 | 3.81 | 3.74 | 3.75 | 3.73 | |||||||||
Total loans and leases | 3.63 | 3.67 | 3.59 | 3.65 | 3.65 | |||||||||
Total earning assets | 3.41 | 3.44 | 3.37 | 3.42 | 3.45 | |||||||||
Liabilities: | ||||||||||||||
Deposits: | ||||||||||||||
Demand deposits—noninterest-bearing | — | — | — | — | — | |||||||||
Demand deposits—interest-bearing | 0.09 | 0.09 | 0.08 | 0.07 | 0.06 | |||||||||
Total demand deposits | 0.03 | 0.03 | 0.02 | 0.02 | 0.02 | |||||||||
Money market deposits | 0.24 | 0.24 | 0.23 | 0.23 | 0.22 | |||||||||
Savings and other domestic deposits | 0.11 | 0.13 | 0.14 | 0.14 | 0.14 | |||||||||
Core certificates of deposit | 0.79 | 0.82 | 0.83 | 0.80 | 0.78 | |||||||||
Total core deposits | 0.22 | 0.23 | 0.23 | 0.23 | 0.22 | |||||||||
Other domestic time deposits of $250,000 or more | 0.40 | 0.41 | 0.40 | 0.43 | 0.44 | |||||||||
Brokered deposits and negotiable CDs | 0.40 | 0.38 | 0.19 | 0.17 | 0.17 | |||||||||
Deposits in foreign offices | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | |||||||||
Total deposits | 0.23 | 0.24 | 0.23 | 0.22 | 0.22 | |||||||||
Short-term borrowings | 0.36 | 0.32 | 0.09 | 0.09 | 0.14 | |||||||||
Long-term debt | 1.85 | 1.68 | 1.49 | 1.45 | 1.45 | |||||||||
Total interest-bearing liabilities | 0.50 | 0.46 | 0.41 | 0.39 | 0.36 | |||||||||
Net interest rate spread | 2.91 | 2.98 | 2.96 | 3.03 | 3.09 | |||||||||
Impact of noninterest-bearing funds on margin | 0.15 | 0.13 | 0.13 | 0.13 | 0.11 | |||||||||
Net interest margin | 3.06 | % | 3.11 | % | 3.09 | % | 3.16 | % | 3.20 | % |
(1) | FTE yields are calculated assuming a 35% tax rate. |
(2) | Loan, lease, and deposit average rates include impact of applicable derivatives, non-deferrable fees, and amortized fees. |
(3) | For purposes of this analysis, NALs are reflected in the average balances of loans. |
• | $2.1 billion, or 26%, increase in average automobile loans. The 2016 second quarter represented the tenth consecutive quarter of greater than $1.0 billion in automobile loan originations, while maintaining our underwriting consistency and discipline. |
• | $2.0 billion, or 15%, increase in average securities, primarily reflecting the reinvestment of cash flows and additional investment in Liquidity Coverage Ratio (LCR) Level 1 qualifying securities and a $0.6 billion increase in direct purchase municipal instruments in our Commercial Banking segment. |
• | $1.5 billion, or 8%, increase in average C&I loans and leases, reflecting growth in equipment finance leases, automobile dealer floorplan lending, and corporate banking. |
• | $0.3 billion, or 6%, increase in average residential mortgage loans, reflecting increased demand for mortgage loans across our portfolio. |
• | $0.7 billion, or 55%, decrease in average loans held-for-sale, primarily related to automobile loans that were securitized and sold late in the year-ago quarter. |
• | $2.5 billion, or 11%, increase in average demand deposits, including a $1.9 billion, or 28%, increase in average interest-bearing demand deposits and a $0.6 billion, or 4%, increase in average noninterest-bearing demand deposits. The increase in average total demand deposits was comprised of a $1.6 billion, or 12%, increase in average commercial demand deposits and a $0.8 billion, or 10%, increase in average consumer demand deposits. |
• | $1.7 billion, or 23%, increase in average total debt, reflecting the issuance of $3.1 billion of senior debt over the past five quarters, partially offset by a $1.1 billion, or 52%, decrease in average short-term borrowings. |
• | $0.7 billion, or 4%, increase in average money market deposits, reflecting improvements in cross-sell and targeted marketing. |
• | $0.6 billion, or 24%, decrease in average core certificates of deposit due to the continued strategic focus on changing the funding sources to low- and no-cost demand, savings, and money market deposits. |
• | $0.4 billion, or 63%, decrease in deposits in foreign offices, reflecting targeted sales efforts to move existing sweep account deposit relationships into more efficient domestic, interest-bearing demand deposits. |
Table 5 - Consolidated YTD Average Balance Sheets and Net Interest Margin Analysis | ||||||||||||||||||||
(dollar amounts in millions) | ||||||||||||||||||||
YTD Average Balances | YTD Average Rates (2) | |||||||||||||||||||
Six months ended June 30, | Change | Six months ended June 30, | ||||||||||||||||||
Fully-taxable equivalent basis (1) | 2016 | 2015 | Amount | Percent | 2016 | 2015 | ||||||||||||||
Assets: | ||||||||||||||||||||
Interest-bearing deposits in banks | $ | 98 | $ | 91 | $ | 7 | 8 | % | 0.23 | % | 0.13 | % | ||||||||
Loans held for sale | 502 | 829 | (327 | ) | (39 | ) | 3.93 | 3.39 | ||||||||||||
Securities: | ||||||||||||||||||||
Available-for-sale and other securities: | ||||||||||||||||||||
Taxable | 6,768 | 7,791 | (1,023 | ) | (13 | ) | 2.38 | 2.55 | ||||||||||||
Tax-exempt | 2,434 | 1,952 | 482 | 25 | 3.39 | 3.09 | ||||||||||||||
Total available-for-sale and other securities | 9,202 | 9,743 | (541 | ) | (6 | ) | 2.65 | 2.66 | ||||||||||||
Trading account securities | 40 | 47 | (7 | ) | (15 | ) | 0.75 | 1.10 | ||||||||||||
Held-to-maturity securities—taxable | 5,930 | 3,335 | 2,595 | 78 | 2.44 | 2.48 | ||||||||||||||
Total securities | 15,172 | 13,125 | 2,047 | 16 | 2.56 | 2.61 | ||||||||||||||
Loans and leases: (3) | ||||||||||||||||||||
Commercial: | ||||||||||||||||||||
Commercial and industrial | 20,996 | 19,469 | 1,527 | 8 | 3.51 | 3.47 | ||||||||||||||
Commercial real estate: | ||||||||||||||||||||
Construction | 902 | 929 | (27 | ) | (3 | ) | 3.60 | 3.70 | ||||||||||||
Commercial | 4,314 | 4,244 | 70 | 2 | 3.47 | 3.49 | ||||||||||||||
Commercial real estate | 5,216 | 5,173 | 43 | 1 | 3.49 | 3.53 | ||||||||||||||
Total commercial | 26,212 | 24,642 | 1,570 | 6 | 3.50 | 3.48 | ||||||||||||||
Consumer: | ||||||||||||||||||||
Automobile | 9,938 | 8,431 | 1,507 | 18 | 3.16 | 3.22 | ||||||||||||||
Home equity | 8,429 | 8,494 | (65 | ) | (1 | ) | 4.18 | 4.00 | ||||||||||||
Residential mortgage | 6,102 | 5,835 | 267 | 5 | 3.67 | 3.73 | ||||||||||||||
Other consumer | 594 | 438 | 156 | 36 | 10.16 | 8.33 | ||||||||||||||
Total consumer | 25,063 | 23,198 | 1,865 | 8 | 3.80 | 3.73 | ||||||||||||||
Total loans and leases | 51,275 | 47,840 | 3,435 | 7 | 3.65 | 3.61 | ||||||||||||||
Allowance for loan and lease losses | (610 | ) | (610 | ) | — | — | ||||||||||||||
Net loans and leases | 50,665 | 47,230 | 3,435 | 7 | ||||||||||||||||
Total earning assets | 67,047 | 61,885 | 5,162 | 8 | 3.43 | % | 3.41 | % | ||||||||||||
Cash and due from banks | 1,007 | 930 | 77 | 8 | ||||||||||||||||
Intangible assets | 728 | 670 | 58 | 9 | ||||||||||||||||
All other assets | 4,187 | 4,180 | 7 | — |
Total assets | $ | 72,359 | $ | 67,055 | $ | 5,304 | 8 | % | ||||||||||||
Liabilities and Shareholders’ Equity: | ||||||||||||||||||||
Deposits: | ||||||||||||||||||||
Demand deposits—noninterest-bearing | $ | 16,421 | $ | 15,575 | $ | 846 | 5 | % | — | % | — | % | ||||||||
Demand deposits—interest-bearing | 8,111 | 6,380 | 1,731 | 27 | 0.09 | 0.05 | ||||||||||||||
Total demand deposits | 24,532 | 21,955 | 2,577 | 12 | 0.03 | 0.02 | ||||||||||||||
Money market deposits | 19,608 | 19,084 | 524 | 3 | 0.24 | 0.22 | ||||||||||||||
Savings and other domestic deposits | 5,354 | 5,220 | 134 | 3 | 0.12 | 0.14 | ||||||||||||||
Core certificates of deposit | 2,136 | 2,726 | (590 | ) | (22 | ) | 0.81 | 0.77 | ||||||||||||
Total core deposits | 51,630 | 48,985 | 2,645 | 5 | 0.22 | 0.22 | ||||||||||||||
Other domestic time deposits of $250,000 or more | 429 | 190 | 239 | 126 | 0.40 | 0.43 | ||||||||||||||
Brokered deposits and negotiable CDs | 2,903 | 2,651 | 252 | 10 | 0.39 | 0.17 | ||||||||||||||
Deposits in foreign offices | 236 | 559 | (323 | ) | (58 | ) | 0.13 | 0.13 | ||||||||||||
Total deposits | 55,198 | 52,385 | 2,813 | 5 | 0.24 | 0.22 | ||||||||||||||
Short-term borrowings | 1,089 | 2,018 | (929 | ) | (46 | ) | 0.33 | 0.13 | ||||||||||||
Long-term debt | 7,549 | 4,744 | 2,805 | 59 | 1.77 | 1.38 | ||||||||||||||
Total interest-bearing liabilities | 47,415 | 43,572 | 3,843 | 9 | 0.48 | 0.34 | ||||||||||||||
All other liabilities | 1,465 | 1,441 | 24 | 2 | ||||||||||||||||
Shareholders’ equity | 7,058 | 6,467 | 591 | 9 | ||||||||||||||||
Total liabilities and shareholders’ equity | $ | 72,359 | $ | 67,055 | $ | 5,304 | 8 | % | ||||||||||||
Net interest rate spread | 2.94 | 3.07 | ||||||||||||||||||
Impact of noninterest-bearing funds on margin | 0.14 | 0.10 | ||||||||||||||||||
Net interest margin | 3.08 | % | 3.17 | % |
(1) | FTE yields are calculated assuming a 35% tax rate. |
(2) | Loan, lease, and deposit average rates include the impact of applicable derivatives, non-deferrable fees, and amortized deferred fees. |
(3) | For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans. |
• | $2.0 billion, or 16%, increase in average securities, primarily reflecting the reinvestment of cash flows and additional investment in Liquidity Coverage Ratio (LCR) Level 1 qualifying securities and an increase in direct purchase municipal instruments in our Commercial Banking segment. |
• | $1.5 billion, or 8%, increase in average C&I loans and leases, reflecting growth in equipment finance leases, automobile dealer floorplan lending, and corporate banking. |
• | $1.5 billion, or 18%, increase in average automobile loans. The 2016 second quarter represented the tenth consecutive quarter of greater than $1.0 billion in automobile loan originations, while maintaining our underwriting consistency and discipline. |
Table 6 - Noninterest Income | |||||||||||||||||||||||||||||||||
(dollar amounts in thousands) | |||||||||||||||||||||||||||||||||
Three Months Ended | 2Q16 vs 2Q15 | 2Q16 vs 1Q16 | |||||||||||||||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | Change | Change | |||||||||||||||||||||||||||
2016 | 2016 | 2015 | 2015 | 2015 | Amount | Percent | Amount | Percent | |||||||||||||||||||||||||
Service charges on deposit accounts | $ | 75,613 | $ | 70,262 | $ | 72,854 | $ | 75,157 | $ | 70,118 | $ | 5,495 | 8 | % | $ | 5,351 | 8 | % | |||||||||||||||
Cards and payment processing income | 39,184 | 36,447 | 37,594 | 36,664 | 35,886 | 3,298 | 9 | 2,737 | 8 | ||||||||||||||||||||||||
Mortgage banking income | 31,591 | 18,543 | 31,418 | 18,956 | 38,518 | (6,927 | ) | (18 | ) | 13,048 | 70 | ||||||||||||||||||||||
Trust services | 22,497 | 22,838 | 25,272 | 24,972 | 26,550 | (4,053 | ) | (15 | ) | (341 | ) | (1 | ) | ||||||||||||||||||||
Insurance income | 15,947 | 16,225 | 15,528 | 16,204 | 17,637 | (1,690 | ) | (10 | ) | (278 | ) | (2 | ) | ||||||||||||||||||||
Brokerage income | 14,599 | 15,502 | 14,462 | 15,059 | 15,184 | (585 | ) | (4 | ) | (903 | ) | (6 | ) | ||||||||||||||||||||
Capital markets fees | 13,037 | 13,010 | 13,778 | 12,741 | 13,192 | (155 | ) | (1 | ) | 27 | — | ||||||||||||||||||||||
Bank owned life insurance income | 12,536 | 13,513 | 13,441 | 12,719 | 13,215 | (679 | ) | (5 | ) | (977 | ) | (7 | ) | ||||||||||||||||||||
Gain on sale of loans | 9,265 | 5,395 | 10,122 | 5,873 | 12,453 | (3,188 | ) | (26 | ) | 3,870 | 72 | ||||||||||||||||||||||
Securities gains (losses) | 656 | — | 474 | 188 | 82 | 574 | 700 | 656 | — | ||||||||||||||||||||||||
Other income | 36,187 | 30,132 | 37,272 | 34,586 | 38,938 | (2,751 | ) | (7 | ) | 6,055 | 20 | ||||||||||||||||||||||
Total noninterest income | $ | 271,112 | $ | 241,867 | $ | 272,215 | $ | 253,119 | $ | 281,773 | $ | (10,661 | ) | (4 | )% | $ | 29,245 | 12 | % |
• | $7 million, or 18%, decrease in mortgage banking income, primarily as a result of an $8 million impact from net MSR activity. |
• | $4 million, or 15%, decrease in trust services, primarily related to the sale of HAA, HASI, and Unified, and the transition of the remaining Huntington Funds at the end of the 2015 fourth quarter. |
• | $3 million, or 26%, decrease in gain on sale of loans, primarily reflecting the $5 million gain from the automobile loan securitization in the year-ago quarter. |
• | $5 million, or 8%, increase in service charges on deposit accounts, reflecting the benefit of continued new customer acquisition including a 4% increase in consumer checking households and a 3% increase in commercial checking relationships. |
• | $3 million, or 9%, increase in cards and payment processing income, due to higher card related income and underlying customer growth. |
Table 7 - Noninterest Income—2016 First Six Months vs. 2015 First Six Months | ||||||||||||||
(dollar amounts in thousands) | ||||||||||||||
Six months ended June 30, | Change | |||||||||||||
2016 | 2015 | Amount | Percent | |||||||||||
Service charges on deposit accounts | $ | 145,875 | $ | 132,338 | $ | 13,537 | 10 | % | ||||||
Cards and payment processing income | 75,631 | 68,457 | 7,174 | 10 | ||||||||||
Mortgage banking income | 50,134 | 61,479 | (11,345 | ) | (18 | ) | ||||||||
Trust services | 45,335 | 55,589 | (10,254 | ) | (18 | ) | ||||||||
Insurance income | 32,172 | 33,532 | (1,360 | ) | (4 | ) | ||||||||
Brokerage income | 30,101 | 30,684 | (583 | ) | (2 | ) | ||||||||
Capital markets fees | 26,047 | 27,097 | (1,050 | ) | (4 | ) | ||||||||
Bank owned life insurance income | 26,049 | 26,240 | (191 | ) | (1 | ) | ||||||||
Gain on sale of loans | 14,660 | 17,042 | (2,382 | ) | (14 | ) | ||||||||
Securities gains (losses) | 656 | 82 | 574 | 700 | ||||||||||
Other income | 66,319 | 60,856 | 5,463 | 9 | ||||||||||
Total noninterest income | $ | 512,979 | $ | 513,396 | $ | (417 | ) | — | % |
• | $11 million, or 18%, decrease in mortgage banking income, primarily as a result of a $10 million impact from net MSR activity. |
• | $10 million, or 18%, decrease in trust services, primarily related to the sale of HAA, HASI, and Unified, and the transition of the remaining Huntington Funds at the end of the 2015 fourth quarter. |
• | $14 million, or 10%, increase service charges on deposit accounts, reflecting the benefit of continued new customer acquisition. |
• | $7 million, or 10%, increase in cards and payment processing income, due to higher card related income and underlying customer growth. |
• | $5 million, or 9% increase in other income, primarily reflecting equipment operating lease income related to Huntington Technology Finance. |
Table 8 - Noninterest Expense | |||||||||||||||||||||||||||||||||
(dollar amounts in thousands) | |||||||||||||||||||||||||||||||||
Three Months Ended | 2Q16 vs 2Q15 | 2Q16 vs 1Q16 | |||||||||||||||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | Change | Change | |||||||||||||||||||||||||||
2016 | 2016 | 2015 | 2015 | 2015 | Amount | Percent | Amount | Percent | |||||||||||||||||||||||||
Personnel costs | $ | 298,949 | $ | 285,397 | $ | 288,861 | $ | 286,270 | $ | 282,135 | $ | 16,814 | 6 | % | $ | 13,552 | 5 | % | |||||||||||||||
Outside data processing and other services | 63,037 | 61,878 | 63,775 | 58,535 | 58,508 | 4,529 | 8 | 1,159 | 2 | ||||||||||||||||||||||||
Equipment | 31,805 | 32,576 | 31,711 | 31,303 | 31,694 | 111 | — | (771 | ) | (2 | ) | ||||||||||||||||||||||
Net occupancy | 30,704 | 31,476 | 32,939 | 29,061 | 28,861 | 1,843 | 6 | (772 | ) | (2 | ) | ||||||||||||||||||||||
Marketing | 14,773 | 12,268 | 12,035 | 12,179 | 15,024 | (251 | ) | (2 | ) | 2,505 | 20 | ||||||||||||||||||||||
Professional services | 21,488 | 13,538 | 13,010 | 11,961 | 12,593 | 8,895 | 71 | 7,950 | 59 | ||||||||||||||||||||||||
Deposit and other insurance expense | 12,187 | 11,208 | 11,105 | 11,550 | 11,787 | 400 | 3 | 979 | 9 | ||||||||||||||||||||||||
Amortization of intangibles | 3,600 | 3,712 | 3,788 | 3,913 | 9,960 | (6,360 | ) | (64 | ) | (112 | ) | (3 | ) | ||||||||||||||||||||
Other expense | 47,118 | 39,027 | 41,542 | 81,736 | 41,215 | 5,903 | 14 | 8,091 | 21 | ||||||||||||||||||||||||
Total noninterest expense | $ | 523,661 | $ | 491,080 | $ | 498,766 | $ | 526,508 | $ | 491,777 | $ | 31,884 | 6 | % | $ | 32,581 | 7 | % | |||||||||||||||
Number of employees (average full-time equivalent) | 12,363 | 12,386 | 12,418 | 12,367 | 12,274 | 89 | 1 | % | (23 | ) | — | % |
Three Months Ended | |||||||||||
June 30, | March 31, | June 30, | |||||||||
2016 | 2016 | 2015 | |||||||||
Personnel costs | $ | 4,732 | $ | 474 | $ | 319 | |||||
Outside data processing and other services | 3,045 | 363 | 755 | ||||||||
Equipment | 3 | — | — | ||||||||
Net occupancy | 490 | 20 | — | ||||||||
Marketing | 241 | 13 | 27 | ||||||||
Professional services | 10,709 | 4,288 | 374 | ||||||||
Other expense | 1,569 | 1,248 | 26 | ||||||||
Total noninterest expense adjustments | $ | 20,789 | $ | 6,406 | $ | 1,501 |
Three Months Ended | 2Q16 vs 2Q15 | 2Q16 vs 1Q16 | |||||||||||||||||||||||
June 30, | March 31, | June 30, | Change | Change | |||||||||||||||||||||
2016 | 2016 | 2015 | Amount | Percent | Amount | Percent | |||||||||||||||||||
Personnel costs | $ | 294,217 | $ | 284,923 | $ | 281,816 | $ | 12,401 | 4 | % | $ | 9,294 | 3 | % | |||||||||||
Outside data processing and other services | 59,992 | 61,515 | 57,753 | 2,239 | 4 | (1,523 | ) | (2 | ) | ||||||||||||||||
Equipment | 31,802 | 32,576 | 31,694 | 108 | — | (774 | ) | (2 | ) | ||||||||||||||||
Net occupancy | 30,214 | 31,456 | 28,861 | 1,353 | 5 | (1,242 | ) | (4 | ) | ||||||||||||||||
Marketing | 14,532 | 12,255 | 14,997 | (465 | ) | (3 | ) | 2,277 | 19 | ||||||||||||||||
Professional services | 10,779 | 9,250 | 12,219 | (1,440 | ) | (12 | ) | 1,529 | 17 | ||||||||||||||||
Deposit and other insurance expense | 12,187 | 11,208 | 11,787 | 400 | 3 | 979 | 9 | ||||||||||||||||||
Amortization of intangibles | 3,600 | 3,712 | 9,960 | (6,360 | ) | (64 | ) | (112 | ) | (3 | ) | ||||||||||||||
Other expense | 45,549 | 37,779 | 41,189 | 4,360 | 11 | 7,770 | 21 | ||||||||||||||||||
Total adjusted noninterest expense | $ | 502,872 | $ | 484,674 | $ | 490,276 | $ | 12,596 | 3 | % | $ | 18,198 | 4 | % |
• | $17 million, or 6%, increase in personnel costs, reflecting a $10 million increase in salaries and a $7 million increase in benefits expense. These increases are primarily the result of annual compensation increases coupled with a 1% increase in the number of average full-time equivalent employees, largely related to the build-out of the in-store strategy, as well as higher healthcare expenses. Personnel costs in the 2016 second quarter included $5 million of Significant Items, primarily comprised of personnel expense related to technology development for systems conversions and fully-dedicated personnel for merger and integration efforts. |
• | $9 million, or 71%, increase in professional services expense, primarily reflecting $11 million of legal and consulting expense related to the pending FirstMerit acquisition. |
• | $6 million, or 14%, increase in other expense, primarily impacted by litigation reserve adjustments and included $2 million of Significant Items related to the pending FirstMerit acquisition. |
• | $5 million, or 8%, increase in outside data processing and other services expense, primarily related to ongoing technology investments and including $3 million of Significant Items related to the pending FirstMerit acquisition. |
• | $6 million, or 64%, decrease in amortization of intangibles reflecting the full amortization of the core deposit intangible from the Sky Financial acquisition at the end of the 2015 second quarter. |
Table 9 - Noninterest Expense—2016 First Six Months vs. 2015 First Six Months | ||||||||||||||
(dollar amounts in thousands) | ||||||||||||||
Six months ended June 30, | Change | |||||||||||||
2016 | 2015 | Amount | Percent | |||||||||||
Personnel costs | $ | 584,346 | $ | 547,051 | $ | 37,295 | 7 | % | ||||||
Outside data processing and other services | 124,915 | 109,043 | 15,872 | 15 | ||||||||||
Equipment | 64,381 | 61,943 | 2,438 | 4 | ||||||||||
Net occupancy | 62,180 | 59,881 | 2,299 | 4 | ||||||||||
Marketing | 27,041 | 27,999 | (958 | ) | (3 | ) | ||||||||
Professional services | 35,026 | 25,320 | 9,706 | 38 | ||||||||||
Deposit and other insurance expense | 23,395 | 21,954 | 1,441 | 7 | ||||||||||
Amortization of intangibles | 7,312 | 20,166 | (12,854 | ) | (64 | ) | ||||||||
Other expense | 86,145 | 77,277 | 8,868 | 11 | ||||||||||
Total noninterest expense | $ | 1,014,741 | $ | 950,634 | $ | 64,107 | 7 | % |
Six months ended June 30, | |||||||
2016 | 2015 | ||||||
Personnel costs | $ | 5,206 | $ | 320 | |||
Outside data processing and other services | 3,408 | 806 | |||||
Equipment | 3 | — | |||||
Net occupancy | 510 | — | |||||
Marketing | 254 | 28 | |||||
Professional services | 14,997 | 3,660 | |||||
Other expense | 2,817 | 38 | |||||
Total noninterest expense adjustments | $ | 27,195 | $ | 4,852 |
Six months ended June 30, | Change | |||||||||||||
2016 | 2015 | Amount | Percent | |||||||||||
Personnel costs | $ | 579,140 | $ | 546,731 | $ | 32,409 | 6 | % | ||||||
Outside data processing and other services | 121,507 | 108,237 | 13,270 | 12 | ||||||||||
Equipment | 64,378 | 61,943 | 2,435 | 4 | ||||||||||
Net occupancy | 61,670 | 59,881 | 1,789 | 3 | ||||||||||
Marketing | 26,787 | 27,971 | (1,184 | ) | (4 | ) | ||||||||
Professional services | 20,029 | 21,660 | (1,631 | ) | (8 | ) | ||||||||
Deposit and other insurance expense | 23,395 | 21,954 | 1,441 | 7 | ||||||||||
Amortization of intangibles | 7,312 | 20,166 | (12,854 | ) | (64 | ) | ||||||||
Other expense | 83,328 | 77,239 | 6,089 | 8 | ||||||||||
Total noninterest expense adjustments | $ | 987,546 | $ | 945,782 | $ | 41,764 | 4 | % |
• | $37 million, or 7%, increase in personnel costs. Excluding the impact of significant items, personnel costs increased $32 million, or 6%, primarily due to a $26 million increase in salaries and an $11 million increase in benefit expense. The increase in salaries and benefits reflect annual merit increases, and a less than 1 percent increase in the number of average full-time equivalent employees, along with higher healthcare expenses. |
• | $16 million, or 15%, increase in outside data processing and other services. Excluding the impact of significant items, outside data processing and other services increased $13 million, or 12%, primarily related to ongoing technology investments. |
• | $10 million, or 38%, increase in professional services expense. Excluding the impact of significant items, professional services expense decreased $2 million, or 8%, primarily reflecting decrease in legal and consulting expense not related to the pending FirstMerit acquisition. |
• | $9 million, or 11%, increase in other expense. Excluding the impact of significant items, other expense increased $6 million, or 8%, primarily impacted by litigation reserve adjustments. |
• | $13 million, or 64%, decrease in amortization of intangibles reflecting the full amortization of the core deposit intangible from the Sky Financial acquisition at the end of the 2015 second quarter. |
Table 10 - Loan and Lease Portfolio Composition | ||||||||||||||||||||||||||||||||||
(dollar amounts in millions) | ||||||||||||||||||||||||||||||||||
June 30, 2016 | March 31, 2016 | December 31, 2015 | September 30, 2015 | June 30, 2015 | ||||||||||||||||||||||||||||||
Ending Balances by Type: | ||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 21,372 | 41 | % | $ | 21,254 | 41 | % | $ | 20,560 | 41 | % | $ | 20,040 | 40 | % | $ | 20,003 | 41 | % | ||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||||||||||||
Construction | 856 | 2 | 939 | 2 | 1,031 | 2 | 1,110 | 2 | 1,021 | 2 | ||||||||||||||||||||||||
Commercial | 4,466 | 7 | 4,343 | 8 | 4,237 | 8 | 4,294 | 9 | 4,192 | 9 | ||||||||||||||||||||||||
Commercial real estate | 5,322 | 9 | 5,282 | 10 | 5,268 | 10 | 5,404 | 11 | 5,213 | 11 | ||||||||||||||||||||||||
Total commercial | 26,694 | 50 | 26,536 | 51 | 25,828 | 51 | 25,444 | 51 | 25,216 | 52 | ||||||||||||||||||||||||
Consumer: | ||||||||||||||||||||||||||||||||||
Automobile | 10,381 | 20 | 9,920 | 19 | 9,481 | 19 | 9,160 | 19 | 8,549 | 18 | ||||||||||||||||||||||||
Home equity | 8,447 | 17 | 8,422 | 17 | 8,471 | 17 | 8,461 | 17 | 8,526 | 17 | ||||||||||||||||||||||||
Residential mortgage | 6,377 | 12 | 6,082 | 12 | 5,998 | 12 | 6,071 | 12 | 5,987 | 12 | ||||||||||||||||||||||||
Other consumer | 644 | 1 | 579 | 1 | 563 | 1 | 520 | 1 | 474 | 1 | ||||||||||||||||||||||||
Total consumer | 25,849 | 50 | 25,003 | 49 | 24,513 | 49 | 24,212 | 49 | 23,536 | 48 | ||||||||||||||||||||||||
Total loans and leases | $ | 52,543 | 100 | % | $ | 51,539 | 100 | % | $ | 50,341 | 100 | % | $ | 49,656 | 100 | % | $ | 48,752 | 100 | % |
Table 11 - Loan and Lease Portfolio by Collateral Type | ||||||||||||||||||||||||||||||||||
(dollar amounts in millions) | ||||||||||||||||||||||||||||||||||
June 30, 2016 | March 31, 2016 | December 31, 2015 | September 30, 2015 | June 30, 2015 | ||||||||||||||||||||||||||||||
Secured loans: | ||||||||||||||||||||||||||||||||||
Real estate—commercial | $ | 8,071 | 15 | % | $ | 8,247 | 16 | % | $ | 8,296 | 16 | % | $ | 8,470 | 17 | % | $ | 8,479 | 17 | % | ||||||||||||||
Real estate—consumer | 14,824 | 28 | 14,504 | 28 | 14,469 | 29 | 14,532 | 29 | 14,513 | 30 | ||||||||||||||||||||||||
Vehicles | 12,851 | 24 | 12,374 | 24 | 11,880 | 24 | 11,228 | 23 | 10,527 | 22 | ||||||||||||||||||||||||
Receivables/Inventory | 6,030 | 11 | 6,192 | 12 | 5,961 | 12 | 6,010 | 12 | 6,064 | 12 | ||||||||||||||||||||||||
Machinery/Equipment | 5,871 | 11 | 5,645 | 11 | 5,171 | 10 | 4,950 | 10 | 4,779 | 10 | ||||||||||||||||||||||||
Securities/Deposits | 1,013 | 2 | 969 | 2 | 974 | 2 | 1,054 | 2 | 1,095 | 2 | ||||||||||||||||||||||||
Other | 1,011 | 4 | 1,108 | 2 | 987 | 2 | 1,057 | 2 | 1,076 | 2 | ||||||||||||||||||||||||
Total secured loans and leases | 49,671 | 95 | 49,039 | 95 | 47,738 | 95 | 47,301 | 95 | 46,533 | 95 | ||||||||||||||||||||||||
Unsecured loans and leases | 2,872 | 5 | 2,500 | 5 | 2,603 | 5 | 2,355 | 5 | 2,219 | 5 | ||||||||||||||||||||||||
Total loans and leases | $ | 52,543 | 100 | % | $ | 51,539 | 100 | % | $ | 50,341 | 100 | % | $ | 49,656 | 100 | % | $ | 48,752 | 100 | % |
Table 12 - Selected Home Equity and Residential Mortgage Portfolio Data | |||||||||||||||||||||||
(dollar amounts in millions) | |||||||||||||||||||||||
Home Equity | Residential Mortgage | ||||||||||||||||||||||
Secured by first-lien | Secured by junior-lien | ||||||||||||||||||||||
June 30, 2016 | December 31, 2015 | June 30, 2016 | December 31, 2015 | June 30, 2016 | December 31, 2015 | ||||||||||||||||||
Ending balance | $ | 5,243 | $ | 5,191 | $ | 3,205 | $ | 3,279 | $ | 6,377 | $ | 5,998 | |||||||||||
Portfolio weighted average LTV ratio(1) | 72 | % | 72 | % | 82 | % | 82 | % | 75 | % | 75 | % | |||||||||||
Portfolio weighted average FICO score(2) | 764 | 764 | 755 | 753 | 754 | 752 | |||||||||||||||||
Home Equity | Residential Mortgage (3) | ||||||||||||||||||||||
Secured by first-lien | Secured by junior-lien | ||||||||||||||||||||||
Six months ended June 30, | |||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | 2016 | 2015 | ||||||||||||||||||
Originations | $ | 836 | $ | 840 | $ | 499 | $ | 438 | $ | 781 | $ | 771 | |||||||||||
Origination weighted average LTV ratio(1) | 73 | % | 74 | % | 85 | % | 84 | % | 83 | % | 84 | % | |||||||||||
Origination weighted average FICO score(2) | 777 | 779 | 767 | 768 | 755 | 755 |
(1) | The LTV ratios for home equity loans and home equity lines-of-credit are cumulative and reflect the balance of any senior loans. LTV ratios reflect collateral values at the time of loan origination. |
(2) | Portfolio weighted average FICO scores reflect currently updated customer credit scores whereas origination weighted average FICO scores reflect the customer credit scores at the time of loan origination. |
(3) | Represents only owned-portfolio originations. |
Table 13 - Nonaccrual Loans and Leases and Nonperforming Assets | |||||||||||||||||||
(dollar amounts in thousands) | |||||||||||||||||||
June 30, 2016 | March 31, 2016 | December 31, 2015 | September 30, 2015 | June 30, 2015 | |||||||||||||||
Nonaccrual loans and leases (NALs): (1) | |||||||||||||||||||
Commercial and industrial | $ | 289,811 | $ | 307,824 | $ | 175,195 | $ | 157,902 | $ | 149,713 | |||||||||
Commercial real estate | 23,663 | 30,801 | 28,984 | 27,516 | 43,888 | ||||||||||||||
Automobile | 5,049 | 7,598 | 6,564 | 5,551 | 4,190 | ||||||||||||||
Residential mortgage | 85,174 | 90,303 | 94,560 | 98,908 | 91,198 | ||||||||||||||
Home equity | 56,845 | 62,208 | 66,278 | 66,446 | 75,282 | ||||||||||||||
Other consumer | 5 | — | — | 154 | 68 | ||||||||||||||
Total nonaccrual loans and leases | 460,547 | 498,734 | 371,581 | 356,477 | 364,339 | ||||||||||||||
Other real estate, net: | |||||||||||||||||||
Residential | 26,653 | 23,175 | 24,194 | 21,637 | 25,660 | ||||||||||||||
Commercial | 2,248 | 2,957 | 3,148 | 3,273 | 3,572 | ||||||||||||||
Total other real estate, net | 28,901 | 26,132 | 27,342 | 24,910 | 29,232 | ||||||||||||||
Other NPAs (2) | 376 | — | — | — | 2,440 | ||||||||||||||
Total nonperforming assets | $ | 489,824 | $ | 524,866 | $ | 398,923 | $ | 381,387 | $ | 396,011 | |||||||||
Nonaccrual loans and leases as a % of total loans and leases | 0.88 | % | 0.97 | % | 0.74 | % | 0.72 | % | 0.75 | % | |||||||||
NPA ratio (3) | 0.93 | 1.02 | 0.79 | 0.77 | 0.81 | ||||||||||||||
(NPA+90days)/(Loan+OREO) (4) | 1.12 | 1.22 | 1.00 | 0.98 | 1.03 |
(1) | Excludes loans transferred to held-for-sale. |
(2) | Other nonperforming assets includes certain impaired investment securities. |
(3) | Nonperforming assets divided by the sum of loans and leases, net other real estate owned, and other NPAs. |
(4) | The sum of nonperforming assets and total accruing loans and leases past due 90 days or more divided by the sum of loans and leases and other real estate. |
• | $18 million, or 6%, decline in C&I NALs, primarily the result of resolutions and paydowns during the quarter. |
• | $7 million, or 23%, decline in CRE NALs, reflecting the resolution of one credit during the quarter. |
• | $5 million, or 9%, decline in home equity NALs, reflecting the overall improvement in the real estate market and lower delinquencies as compared to prior periods, consistent with our expectations. |
• | $5 million, or 6%, decline in residential mortgage NALs, reflecting the overall improvement in the real estate market and lower delinquencies as compared to prior periods, consistent with our expectations. |
• | $115 million or 65%, increase in C&I NALs, with the majority of the increase in our energy related E&P and coal portfolios. |
• | $9 million or 14% decline in home equity NALs, reflecting the overall improvement in the real estate market and lower delinquencies as compared to prior periods. |
• | $9 million or 10% decline in residential mortgage NALs, reflecting the overall improvement in the real estate market and lower delinquencies as compared to prior periods. |
• | $5 million, or 18%, decline in CRE NALs, reflecting the resolution of one credit during the year. |
Table 14 - Accruing and Nonaccruing Troubled Debt Restructured Loans (1) | |||||||||||||||||||
(dollar amounts in thousands) | |||||||||||||||||||
June 30, 2016 | March 31, 2016 | December 31, 2015 | September 30, 2015 | June 30, 2015 | |||||||||||||||
Troubled debt restructured loans—accruing: | |||||||||||||||||||
Commercial and industrial | $ | 232,112 | $ | 205,989 | $ | 235,689 | $ | 241,327 | $ | 233,346 | |||||||||
Commercial real estate | 85,015 | 108,861 | 115,074 | 103,767 | 158,056 | ||||||||||||||
Automobile | 25,892 | 25,856 | 24,893 | 24,537 | 24,774 | ||||||||||||||
Home equity | 203,047 | 204,244 | 199,393 | 192,356 | 279,864 | ||||||||||||||
Residential mortgage | 256,859 | 259,750 | 264,666 | 277,154 | 266,986 | ||||||||||||||
Other consumer | 4,522 | 4,768 | 4,488 | 4,569 | 4,722 | ||||||||||||||
Total troubled debt restructured loans—accruing | 807,447 | 809,468 | 844,203 | 843,710 | 967,748 | ||||||||||||||
Troubled debt restructured loans—nonaccruing: | |||||||||||||||||||
Commercial and industrial | 77,592 | 83,600 | 56,919 | 54,933 | 46,303 | ||||||||||||||
Commercial real estate | 6,833 | 14,607 | 16,617 | 12,806 | 19,490 | ||||||||||||||
Automobile | 4,907 | 7,407 | 6,412 | 5,400 | 4,030 | ||||||||||||||
Home equity | 21,145 | 23,211 | 20,996 | 19,188 | 26,568 | ||||||||||||||
Residential mortgage | 63,638 | 68,918 | 71,640 | 68,577 | 65,415 | ||||||||||||||
Other consumer | 142 | 191 | 151 | 152 | 160 | ||||||||||||||
Total troubled debt restructured loans—nonaccruing | 174,257 | 197,934 | 172,735 | 161,056 | 161,966 | ||||||||||||||
Total troubled debt restructured loans | $ | 981,704 | $ | 1,007,402 | $ | 1,016,938 | $ | 1,004,766 | $ | 1,129,714 |
(1) | Excludes TDRs transferred from loans to loans held for sale. |
Table 15 - Troubled Debt Restructured Loan Activity | |||||||||||||||||||
(dollar amounts in thousands) | |||||||||||||||||||
June 30, 2016 | March 31, 2016 | December 31, 2015 | September 30, 2015 | June 30, 2015 | |||||||||||||||
Troubled debt restructured loans—accruing: | |||||||||||||||||||
TDRs, beginning of period | $ | 809,468 | $ | 844,203 | $ | 843,710 | $ | 967,748 | $ | 888,125 | |||||||||
New TDRs | 153,041 | 159,877 | 144,779 | 200,014 | 207,707 | ||||||||||||||
Payments | (72,743 | ) | (51,241 | ) | (51,963 | ) | (86,450 | ) | (59,451 | ) | |||||||||
Charge-offs | (574 | ) | (1,100 | ) | (948 | ) | (1,539 | ) | (1,103 | ) | |||||||||
Sales | (5,316 | ) | (3,631 | ) | (4,074 | ) | (3,332 | ) | (4,127 | ) | |||||||||
Transfer to held-for-sale | — | — | — | (88,415 | ) | — | |||||||||||||
Transfer to OREO | (104 | ) | (206 | ) | (30 | ) | (228 | ) | (410 | ) | |||||||||
Restructured TDRs—accruing (1) | (72,188 | ) | (106,012 | ) | (54,082 | ) | (96,336 | ) | (61,570 | ) | |||||||||
Other (2) | (4,137 | ) | (32,422 | ) | (33,189 | ) | (47,752 | ) | (1,423 | ) | |||||||||
TDRs, end of period | $ | 807,447 | $ | 809,468 | $ | 844,203 | $ | 843,710 | $ | 967,748 | |||||||||
Troubled debt restructured loans—nonaccruing: | |||||||||||||||||||
TDRs, beginning of period | $ | 197,934 | $ | 172,735 | $ | 161,056 | $ | 161,966 | $ | 150,548 | |||||||||
New TDRs | 23,541 | 34,632 | 48,643 | 31,977 | 52,204 | ||||||||||||||
Payments | (24,461 | ) | (20,377 | ) | (20,833 | ) | (31,372 | ) | (5,017 | ) | |||||||||
Charge-offs | (12,183 | ) | (2,858 | ) | (6,323 | ) | (14,010 | ) | (11,204 | ) | |||||||||
Sales | (499 | ) | — | — | — | (381 | ) | ||||||||||||
Transfer to held-for-sale | — | — | — | (8,371 | ) | — | |||||||||||||
Transfer to OREO | (3,742 | ) | (3,164 | ) | (2,052 | ) | (2,050 | ) | (2,973 | ) | |||||||||
Restructured TDRs—nonaccruing (1) | (5,855 | ) | (12,314 | ) | (39,771 | ) | (17,398 | ) | (20,456 | ) | |||||||||
Other (2) | (478 | ) | 29,280 | 32,015 | 40,314 | (755 | ) | ||||||||||||
TDRs, end of period | $ | 174,257 | $ | 197,934 | $ | 172,735 | $ | 161,056 | $ | 161,966 |
(1) | Represents existing TDRs that were re-underwritten with new terms providing a concession. A corresponding amount is included in the New TDRs amount above. |
(2) | Primarily includes transfers between accruing and nonaccruing categories. |
Table 16 - Allocation of Allowance for Credit Losses (1) | ||||||||||||||||||||||||||||||||||
(dollar amounts in thousands) | ||||||||||||||||||||||||||||||||||
June 30, 2016 | March 31, 2016 | December 31, 2015 | September 30, 2015 | June 30, 2015 | ||||||||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 323,465 | 41 | % | $ | 320,367 | 41 | % | $ | 298,746 | 41 | % | $ | 284,329 | 40 | % | $ | 285,041 | 41 | % | ||||||||||||||
Commercial real estate | 101,042 | 9 | 102,074 | 10 | 100,007 | 10 | 109,967 | 11 | 92,060 | 11 | ||||||||||||||||||||||||
Total commercial | 424,507 | 50 | 422,441 | 51 | 398,753 | 51 | 394,296 | 51 | 377,101 | 52 | ||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||||
Automobile | 50,531 | 20 | 48,032 | 19 | 49,504 | 19 | 43,949 | 19 | 39,102 | 18 | ||||||||||||||||||||||||
Home equity | 76,482 | 17 | 78,102 | 17 | 83,671 | 17 | 86,838 | 17 | 111,178 | 17 | ||||||||||||||||||||||||
Residential mortgage | 42,392 | 12 | 40,842 | 12 | 41,646 | 12 | 42,794 | 12 | 51,679 | 12 | ||||||||||||||||||||||||
Other consumer | 29,152 | 1 | 24,302 | 1 | 24,269 | 1 | 24,061 | 1 | 20,482 | 1 | ||||||||||||||||||||||||
Total consumer | 198,557 | 50 | 191,278 | 49 | 199,090 | 49 | 197,642 | 49 | 222,441 | 48 | ||||||||||||||||||||||||
Total allowance for loan and lease losses | 623,064 | 100 | % | 613,719 | 100 | % | 597,843 | 100 | % | 591,938 | 100 | % | 599,542 | 100 | % | |||||||||||||||||||
Allowance for unfunded loan commitments | 73,748 | 75,325 | 72,081 | 64,223 | 55,371 | |||||||||||||||||||||||||||||
Total allowance for credit losses | $ | 696,812 | $ | 689,044 | $ | 669,924 | $ | 656,161 | $ | 654,913 | ||||||||||||||||||||||||
Total allowance for loan and leases losses as % of: | ||||||||||||||||||||||||||||||||||
Total loans and leases | 1.19 | % | 1.19 | % | 1.19 | % | 1.19 | % | 1.23 | % | ||||||||||||||||||||||||
Nonaccrual loans and leases | 135 | 123 | 161 | 166 | 165 | |||||||||||||||||||||||||||||
Nonperforming assets | 127 | 117 | 150 | 155 | 151 | |||||||||||||||||||||||||||||
Total allowance for credit losses as % of: | ||||||||||||||||||||||||||||||||||
Total loans and leases | 1.33 | % | 1.34 | % | 1.33 | % | 1.32 | % | 1.34 | % | ||||||||||||||||||||||||
Nonaccrual loans and leases | 151 | 138 | 180 | 184 | 180 | |||||||||||||||||||||||||||||
Nonperforming assets | 142 | 131 | 168 | 172 | 165 |
(1) | Percentages represent the percentage of each loan and lease category to total loans and leases. |
• | $25 million, or 8%, increase in the ALLL of the C&I portfolio was related to an increase in NALs within our energy related E&P and coal portfolios. |
• | $5 million, or 20%, increase in the ALLL of the other consumer portfolio. The increase was driven by growth in our credit card segment. |
• | $2 million, or 2%, increase in the AULC driven primarily by an increase in criticized unfunded exposures within the energy sector portfolio. |
• | $7 million, or 9%, decline in the ALLL of the home equity portfolio. The decline was driven by a reduction in delinquent and nonaccrual loans. |
Table 17 - Quarterly Net Charge-off Analysis | |||||||||||||||||||
(dollar amounts in thousands) | |||||||||||||||||||
Three months ended | |||||||||||||||||||
June 30, 2016 | March 31, 2016 | December 31, 2015 | September 30, 2015 | June 30, 2015 | |||||||||||||||
Net charge-offs (recoveries) by loan and lease type (1): | |||||||||||||||||||
Commercial: | |||||||||||||||||||
Commercial and industrial | $ | 3,702 | $ | 6,514 | $ | 2,252 | $ | 9,858 | $ | 4,411 | |||||||||
Commercial real estate: | |||||||||||||||||||
Construction | (377 | ) | (104 | ) | (296 | ) | (309 | ) | 164 | ||||||||||
Commercial | (296 | ) | (17,372 | ) | (3,939 | ) | (13,512 | ) | 5,361 | ||||||||||
Commercial real estate | (673 | ) | (17,476 | ) | (4,235 | ) | (13,821 | ) | 5,525 | ||||||||||
Total commercial | 3,029 | (10,962 | ) | (1,983 | ) | (3,963 | ) | 9,936 | |||||||||||
Consumer: | |||||||||||||||||||
Automobile | 4,320 | 6,770 | 7,693 | 4,908 | 3,442 | ||||||||||||||
Home equity | 1,078 | 3,681 | 4,706 | 5,869 | 4,650 | ||||||||||||||
Residential mortgage | 776 | 1,647 | 3,158 | 2,010 | 2,142 | ||||||||||||||
Other consumer | 7,552 | 7,416 | 8,249 | 7,339 | 5,205 | ||||||||||||||
Total consumer | 13,726 | 19,514 | 23,806 | 20,126 | 15,439 | ||||||||||||||
Total net charge-offs | $ | 16,755 | $ | 8,552 | $ | 21,823 | $ | 16,163 | $ | 25,375 | |||||||||
Net charge-offs (recoveries)—annualized percentages: | |||||||||||||||||||
Commercial: | |||||||||||||||||||
Commercial and industrial | 0.07 | % | 0.13 | % | 0.04 | % | 0.20 | % | 0.09 | % | |||||||||
Commercial real estate: | |||||||||||||||||||
Construction | (0.17 | ) | (0.05 | ) | (0.11 | ) | (0.11 | ) | 0.07 | ||||||||||
Commercial | (0.03 | ) | (1.62 | ) | (0.38 | ) | (1.29 | ) | 0.51 | ||||||||||
Commercial real estate | (0.05 | ) | (1.34 | ) | (0.32 | ) | (1.04 | ) | 0.43 | ||||||||||
Total commercial | 0.05 | (0.17 | ) | (0.03 | ) | (0.06 | ) | 0.16 | |||||||||||
Consumer: | |||||||||||||||||||
Automobile | 0.17 | 0.28 | 0.33 | 0.22 | 0.17 | ||||||||||||||
Home equity | 0.05 | 0.17 | 0.22 | 0.28 | 0.22 | ||||||||||||||
Residential mortgage | 0.05 | 0.11 | 0.21 | 0.13 | 0.15 | ||||||||||||||
Other consumer | 4.93 | 5.17 | 6.03 | 5.91 | 4.61 | ||||||||||||||
Total consumer | 0.22 | 0.32 | 0.39 | 0.34 | 0.27 | ||||||||||||||
Net charge-offs as a % of average loans | 0.13 | % | 0.07 | % | 0.18 | % | 0.13 | % | 0.21 | % |
Table 18 - Year to Date Net Charge-off Analysis | |||||||
(dollar amounts in thousands) | |||||||
Six months ended June 30, | |||||||
2016 | 2015 | ||||||
Net charge-offs (recoveries) by loan and lease type (1): | |||||||
Commercial: | |||||||
Commercial and industrial | $ | 10,216 | $ | 15,814 | |||
Commercial real estate: | |||||||
Construction | (481 | ) | (219 | ) | |||
Commercial | (17,668 | ) | 1,732 | ||||
Commercial real estate | (18,149 | ) | 1,513 | ||||
Total commercial | (7,933 | ) | 17,327 | ||||
Consumer: | |||||||
Automobile | 11,090 | 7,690 | |||||
Home equity | 4,759 | 9,275 | |||||
Residential mortgage | 2,423 | 4,958 | |||||
Other consumer | 14,968 | 10,557 | |||||
Total consumer | 33,240 | 32,480 | |||||
Total net charge-offs | $ | 25,307 | $ | 49,807 | |||
Net charge-offs (recoveries) - annualized percentages: | |||||||
Commercial: | |||||||
Commercial and industrial | 0.10 | % | 0.16 | % | |||
Commercial real estate: | |||||||
Construction | (0.11 | ) | (0.05 | ) | |||
Commercial | (0.82 | ) | 0.08 | ||||
Commercial real estate | (0.70 | ) | 0.06 | ||||
Total commercial | (0.06 | ) | 0.14 | ||||
Consumer: | |||||||
Automobile | 0.22 | 0.18 | |||||
Home equity | 0.11 | 0.22 | |||||
Residential mortgage | 0.08 | 0.17 | |||||
Other consumer | 5.04 | 4.81 | |||||
Total consumer | 0.27 | 0.28 | |||||
Net charge-offs as a % of average loans | 0.10 | % | 0.21 | % |
Table 19 - Net Interest Income at Risk | ||||||||
Net Interest Income at Risk (%) | ||||||||
Basis point change scenario | -25 | +100 | +200 | |||||
Board policy limits | N/A | -2.0 | % | -4.0 | % | |||
June 30, 2016 | -0.8 | % | 2.1 | % | 4.1 | % | ||
December 31, 2015 | -0.3 | % | 0.7 | % | 0.3 | % |
Table 20 - Expected Maturity for Asset and Liability Receive-Fixed Cash Flow Swaps | |||||||
(dollar amounts in thousands) | Asset receive fixed-generic cash flow swaps | Liability receive fixed-generic cash flow swaps | |||||
2016 | $ | 1,375,000 | $ | 850,000 | |||
2017 | 3,250,000 | 500,000 | |||||
2018 | 75,000 | 2,610,000 | |||||
2019 | — | 575,000 | |||||
2020 | — | 1,300,000 | |||||
2021 | — | 990,000 |
Table 21 - Economic Value of Equity at Risk | ||||||||
Economic Value of Equity at Risk (%) | ||||||||
Basis point change scenario | -25 | +100 | +200 | |||||
Board policy limits | N/A | -5.0 | % | -12.0 | % | |||
June 30, 2016 | -1.2 | % | 2.5 | % | 2.9 | % | ||
December 31, 2015 | -0.4 | % | -0.5 | % | -2.1 | % |
Table 22 - Expected Life of Investment Securities | |||||||||||||||
(dollar amounts in thousands) | |||||||||||||||
June 30, 2016 | |||||||||||||||
Available-for-Sale & Other Securities | Held-to-Maturity Securities | ||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | ||||||||||||
1 year or less | $ | 682,978 | $ | 672,177 | $ | 19,205 | $ | 19,238 | |||||||
After 1 year through 5 years | 5,454,666 | 5,557,358 | 3,819,702 | 3,901,761 | |||||||||||
After 5 years through 10 years (1) | 2,492,878 | 2,514,932 | 1,813,033 | 1,858,472 | |||||||||||
After 10 years | 547,095 | 562,788 | 6,625 | 6,753 | |||||||||||
Other securities | 345,343 | 345,783 | — | — | |||||||||||
Total | $ | 9,522,960 | $ | 9,653,038 | $ | 5,658,565 | $ | 5,786,224 |
(1) | A portion of the securities with an average life of 5 years to 10 years, are variable rate; resulting in an average duration of 4.12 years. |
Table 23 - Deposit Composition | ||||||||||||||||||||||||||||||||||
(dollar amounts in millions) | ||||||||||||||||||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||||||||||||||||
2016 | 2016 | 2015 | 2015 | 2015 | ||||||||||||||||||||||||||||||
By Type: | ||||||||||||||||||||||||||||||||||
Demand deposits—noninterest-bearing | $ | 16,324 | 30 | % | $ | 16,571 | 30 | % | $ | 16,480 | 30 | % | $ | 16,935 | 31 | % | $ | 17,011 | 32 | % | ||||||||||||||
Demand deposits—interest-bearing | 8,412 | 15 | 8,174 | 15 | 7,682 | 14 | 6,574 | 12 | 6,627 | 12 | ||||||||||||||||||||||||
Money market deposits | 19,480 | 34 | 19,844 | 35 | 19,792 | 36 | 19,494 | 36 | 18,580 | 35 | ||||||||||||||||||||||||
Savings and other domestic deposits | 5,341 | 10 | 5,423 | 10 | 5,246 | 9 | 5,189 | 10 | 5,240 | 10 | ||||||||||||||||||||||||
Core certificates of deposit | 1,866 | 4 | 2,123 | 4 | 2,382 | 4 | 2,483 | 5 | 2,580 | 5 | ||||||||||||||||||||||||
Total core deposits: | 51,423 | 93 | 52,135 | 94 | 51,582 | 93 | 50,675 | 94 | 50,038 | 94 | ||||||||||||||||||||||||
Other domestic deposits of $250,000 or more | 380 | 1 | 424 | 1 | 501 | 1 | 263 | — | 178 | — | ||||||||||||||||||||||||
Brokered deposits and negotiable CDs | 3,017 | 6 | 2,890 | 5 | 2,944 | 5 | 2,904 | 5 | 2,705 | 5 | ||||||||||||||||||||||||
Deposits in foreign offices | 223 | — | 180 | — | 268 | 1 | 403 | 1 | 552 | 1 | ||||||||||||||||||||||||
Total deposits | $ | 55,043 | 100 | % | $ | 55,629 | 100 | % | $ | 55,295 | 100 | % | $ | 54,245 | 100 | % | $ | 53,473 | 100 | % | ||||||||||||||
Total core deposits: | ||||||||||||||||||||||||||||||||||
Commercial | $ | 24,308 | 47 | % | $ | 24,543 | 47 | % | $ | 24,474 | 47 | % | $ | 24,886 | 49 | % | $ | 24,103 | 48 | % | ||||||||||||||
Consumer | 27,115 | 53 | 27,592 | 53 | 27,108 | 53 | 25,789 | 51 | 25,935 | 52 | ||||||||||||||||||||||||
Total core deposits | $ | 51,423 | 100 | % | $ | 52,135 | 100 | % | $ | 51,582 | 100 | % | $ | 50,675 | 100 | % | $ | 50,038 | 100 | % |
Table 24 - Federal Funds Purchased and Repurchase Agreements | |||||||||||||||||||
(dollar amounts in millions) | |||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | |||||||||||||||
2016 | 2016 | 2015 | 2015 | 2015 | |||||||||||||||
Balance at period-end | |||||||||||||||||||
Federal Funds purchased and securities sold under agreements to repurchase | $ | 149 | $ | 204 | $ | 601 | $ | 1,051 | $ | 1,101 | |||||||||
Federal Home Loan Bank advances | 1,800 | 250 | — | 400 | 375 | ||||||||||||||
Other short-term borrowings | 8 | 18 | 14 | 3 | 35 | ||||||||||||||
Weighted average interest rate at period-end | |||||||||||||||||||
Federal Funds purchased and securities sold under agreements to repurchase | 0.05 | % | 0.04 | % | 0.13 | % | 0.05 | % | 0.05 | % | |||||||||
Federal Home Loan Bank advances | 0.42 | 0.41 | — | 0.19 | 0.15 | ||||||||||||||
Other short-term borrowings | 4.19 | 2.13 | 0.27 | 0.19 | 0.17 | ||||||||||||||
Maximum amount outstanding at month-end during the period | |||||||||||||||||||
Federal Funds purchased and securities sold under agreements to repurchase | $ | 258 | $ | 401 | $ | 601 | $ | 1,051 | $ | 1,101 | |||||||||
Federal Home Loan Bank advances | 1,800 | 1,575 | — | 400 | 1,850 | ||||||||||||||
Other short-term borrowings | 21 | 20 | 14 | 3 | 35 | ||||||||||||||
Average amount outstanding during the period | |||||||||||||||||||
Federal Funds purchased and securities sold under agreements to repurchase | $ | 515 | $ | 582 | $ | 503 | $ | 685 | $ | 898 |
Federal Home Loan Bank advances | 504 | 553 | 13 | 136 | 1,236 | ||||||||||||||
Other short-term borrowings | 13 | 9 | 9 | 23 | 19 | ||||||||||||||
Weighted average interest rate during the period | |||||||||||||||||||
Federal Funds purchased and securities sold under agreements to repurchase | 0.25 | % | 0.18 | % | 0.05 | % | 0.05 | % | 0.07 | % | |||||||||
Federal Home Loan Bank advances | 0.42 | 0.40 | 0.25 | 0.16 | 0.16 | ||||||||||||||
Other short-term borrowings | 1.81 | 3.69 | 1.99 | 0.78 | 1.94 |
Table 25 - Capital Under Current Regulatory Standards (transitional Basel III basis) | ||||||||||||||||||||
(dollar amounts in millions except per share amounts) | ||||||||||||||||||||
June 30, 2016 | March 31, 2016 | December 31, 2015 | September 30, 2015 | June 30, 2015 | ||||||||||||||||
Common equity tier 1 risk-based capital ratio: | ||||||||||||||||||||
Total shareholders’ equity | $ | 7,507 | $ | 7,158 | $ | 6,595 | $ | 6,583 | $ | 6,496 | ||||||||||
Regulatory capital adjustments: | ||||||||||||||||||||
Shareholders’ preferred equity | (971 | ) | (773 | ) | (386 | ) | (386 | ) | (386 | ) | ||||||||||
Accumulated other comprehensive loss (income) offset | 134 | 167 | 226 | 140 | 186 | |||||||||||||||
Goodwill and other intangibles, net of taxes | (700 | ) | (703 | ) | (695 | ) | (697 | ) | (701 | ) | ||||||||||
Deferred tax assets that arise from tax loss and credit carryforwards | (21 | ) | (29 | ) | (19 | ) | (15 | ) | (15 | ) | ||||||||||
Common equity tier 1 capital | 5,949 | 5,820 | 5,721 | 5,625 | 5,580 | |||||||||||||||
Additional tier 1 capital | ||||||||||||||||||||
Shareholders’ preferred equity | 971 | 773 | 386 | 386 | 386 | |||||||||||||||
Qualifying capital instruments subject to phase-out | — | — | 76 | 76 | 76 | |||||||||||||||
Other | (14 | ) | (19 | ) | (29 | ) | (22 | ) | (22 | ) | ||||||||||
Tier 1 capital | 6,906 | 6,574 | 6,154 | 6,065 | 6,020 | |||||||||||||||
LTD and other tier 2 qualifying instruments | 590 | 611 | 563 | 623 | 623 | |||||||||||||||
Qualifying allowance for loan and lease losses | 697 | 689 | 670 | 656 | 655 | |||||||||||||||
Tier 2 capital | 1,287 | 1,300 | 1,233 | 1,279 | 1,278 | |||||||||||||||
Total risk-based capital | $ | 8,193 | $ | 7,874 | $ | 7,387 | $ | 7,344 | $ | 7,298 | ||||||||||
Risk-weighted assets (RWA) | $ | 60,721 | $ | 59,798 | $ | 58,420 | $ | 57,839 | $ | 57,850 | ||||||||||
Common equity tier 1 risk-based capital ratio | 9.80 | % | 9.73 | % | 9.79 | % | 9.72 | % | 9.65 | % | ||||||||||
Other regulatory capital data: | ||||||||||||||||||||
Tier 1 leverage ratio | 9.55 | 9.29 | 8.79 | 8.85 | 8.98 | |||||||||||||||
Tier 1 risk-based capital ratio | 11.37 | 10.99 | 10.53 | 10.49 | 10.41 | |||||||||||||||
Total risk-based capital ratio | 13.49 | 13.17 | 12.64 | 12.70 | 12.62 |
Table 26 - Capital Adequacy—Non-Regulatory | |||||||||||||||||||
(dollar amounts in millions) | |||||||||||||||||||
June 30, 2016 | March 31, 2016 | December 31, 2015 | September 30, 2015 | June 30, 2015 | |||||||||||||||
Consolidated capital calculations: | |||||||||||||||||||
Common shareholders’ equity | $ | 6,536 | $ | 6,385 | $ | 6,209 | $ | 6,197 | $ | 6,110 | |||||||||
Preferred shareholders’ equity | 971 | 773 | 386 | 386 | 386 | ||||||||||||||
Total shareholders’ equity | 7,507 | 7,158 | 6,595 | 6,583 | 6,496 | ||||||||||||||
Goodwill | (677 | ) | (677 | ) | (677 | ) | (677 | ) | (678 | ) | |||||||||
Other intangible assets | (48 | ) | (51 | ) | (55 | ) | (59 | ) | (63 | ) | |||||||||
Other intangible assets deferred tax liability (1) | 17 | 18 | 19 | 21 | 22 | ||||||||||||||
Total tangible equity | 6,799 | 6,448 | 5,882 | 5,868 | 5,777 | ||||||||||||||
Preferred shareholders’ equity | (971 | ) | (773 | ) | (386 | ) | (386 | ) | (386 | ) | |||||||||
Total tangible common equity | $ | 5,828 | $ | 5,675 | $ | 5,496 | $ | 5,482 | $ | 5,391 | |||||||||
Total assets | $ | 73,954 | $ | 72,645 | $ | 71,018 | $ | 70,186 | $ | 68,824 | |||||||||
Goodwill | (677 | ) | (677 | ) | (677 | ) | (677 | ) | (678 | ) | |||||||||
Other intangible assets | (48 | ) | (51 | ) | (55 | ) | (59 | ) | (63 | ) | |||||||||
Other intangible assets deferred tax liability (1) | 17 | 18 | 19 | 21 | 22 | ||||||||||||||
Total tangible assets | $ | 73,246 | $ | 71,935 | $ | 70,305 | $ | 69,471 | $ | 68,105 | |||||||||
Tangible equity / tangible asset ratio | 9.28 | % | 8.96 | % | 8.37 | % | 8.45 | % | 8.48 | % | |||||||||
Tangible common equity / tangible asset ratio | 7.96 | 7.89 | 7.82 | 7.89 | 7.92 |
(1) | Calculated assuming a 35% tax rate. |
Table 27 - Regulatory Capital Data | |||||||||||||||||||||
(dollar amounts in millions) | |||||||||||||||||||||
Basel III | |||||||||||||||||||||
June 30, 2016 | March 31, 2016 | December 31, 2015 | September 30, 2015 | June 30, 2015 | |||||||||||||||||
Total risk-weighted assets | Consolidated | $ | 60,721 | $ | 59,798 | $ | 58,420 | $ | 57,839 | $ | 57,850 | ||||||||||
Bank | 60,674 | 59,723 | 58,351 | 57,750 | 57,772 | ||||||||||||||||
Common equity tier I risk-based capital | Consolidated | 5,949 | 5,821 | 5,721 | 5,625 | 5,580 | |||||||||||||||
Bank | 5,578 | 5,518 | 5,519 | 5,475 | 5,497 | ||||||||||||||||
Tier 1 risk-based capital | Consolidated | 6,906 | 6,574 | 6,154 | 6,065 | 6,020 | |||||||||||||||
Bank | 6,221 | 5,672 | 5,735 | 5,692 | 5,716 | ||||||||||||||||
Tier 2 risk-based capital | Consolidated | 1,287 | 1,300 | 1,233 | 1,279 | 1,278 | |||||||||||||||
Bank | 1,331 | 1,119 | 1,115 | 1,101 | 747 | ||||||||||||||||
Total risk-based capital | Consolidated | 8,193 | 7,874 | 7,387 | 7,344 | 7,298 | |||||||||||||||
Bank | 7,552 | 6,791 | 6,851 | 6,793 | 6,463 | ||||||||||||||||
Tier 1 leverage ratio | Consolidated | 9.55 | % | 9.29 | % | 8.79 | % | 8.85 | % | 8.98 | % | ||||||||||
Bank | 8.61 | 8.02 | 8.21 | 8.33 | 8.54 | ||||||||||||||||
Common equity tier I risk-based capital ratio | Consolidated | 9.80 | 9.73 | 9.79 | 9.72 | 9.65 | |||||||||||||||
Bank | 9.19 | 9.24 | 9.46 | 9.48 | 9.51 | ||||||||||||||||
Tier 1 risk-based capital ratio | Consolidated | 11.37 | 10.99 | 10.53 | 10.49 | 10.41 | |||||||||||||||
Bank | 10.25 | 9.50 | 9.83 | 9.86 | 9.89 | ||||||||||||||||
Total risk-based capital ratio | Consolidated | 13.49 | 13.17 | 12.64 | 12.70 | 12.62 | |||||||||||||||
Bank | 12.45 | 11.37 | 11.74 | 11.76 | 11.19 |
• | Level 1 – quoted prices (unadjusted) for identical assets or liabilities in active markets. |
• | Level 2 – inputs include quoted prices for similar assets and liabilities in active markets, quoted prices of identical or similar assets or liabilities in markets that are not active, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. |
• | Level 3 – inputs that are unobservable and significant to the fair value measurement. Financial instruments are considered Level 3 when values are determined using pricing models, discounted cash flow methodologies, or similar techniques, and at least one significant model assumption or input is unobservable. |
Table 28 - Net Income (Loss) by Business Segment | |||||||
(dollar amounts in thousands) | |||||||
Six months ended June 30, | |||||||
2016 | 2015 | ||||||
Retail and Business Banking | $ | 127,153 | $ | 111,061 | |||
Commercial Banking | 74,107 | 102,681 | |||||
AFCRE | 86,689 | 84,698 | |||||
RBHPCG | 23,280 | 4,468 | |||||
Home Lending | 7,908 | 353 | |||||
Treasury/Other | 26,717 | 58,799 | |||||
Total net income | $ | 345,854 | $ | 362,060 |
Table 29 - Consumer Checking Household OCR Cross-sell Report | |||||||||||||||||||
Three Months Ended | |||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | |||||||||||||||
2016 | 2016 | 2015 | 2015 | 2015 | |||||||||||||||
Number of households (1) | 1,549,059 | 1,530,025 | 1,511,474 | 1,508,209 | 1,491,967 | ||||||||||||||
Product Penetration by Number of Services (2) | |||||||||||||||||||
1 Service | 2.6 | % | 2.6 | % | 2.6 | % | 2.6 | % | 2.5 | % | |||||||||
2-3 Services | 16.2 | 16.0 | 16.4 | 16.8 | 17.0 | ||||||||||||||
4-5 Services | 28.8 | 28.8 | 29.1 | 29.2 | 29.5 | ||||||||||||||
6+ Services | 52.4 | 52.6 | 51.9 | 51.4 | 51.0 | ||||||||||||||
Total revenue (in millions) | $ | 308 | $ | 293 | $ | 294 | $ | 289 | $ | 280 |
(1) | Checking account required. |
(2) | The definitions and measurements used in our OCR process are periodically reviewed and updated prospectively. |
Table 30 - Commercial Relationship OCR Cross-sell Report | |||||||||||||||||||
Three Months Ended | |||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | |||||||||||||||
2016 | 2016 | 2015 | 2015 | 2015 | |||||||||||||||
Commercial Relationships (1) | 172,880 | 171,053 | 168,774 | 169,152 | 168,088 | ||||||||||||||
Product Penetration by Number of Services (2) | |||||||||||||||||||
1 Service | 11.8 | % | 12.1 | % | 13.7 | % | 14.0 | % | 14.3 | % | |||||||||
2-3 Services | 40.9 | 40.4 | 42.0 | 42.3 | 42.3 | ||||||||||||||
4+ Services (3) | 47.3 | 47.5 | 44.3 | 43.7 | 43.4 | ||||||||||||||
Total revenue (in millions) | $ | 226 | $ | 221 | $ | 222 | $ | 229 | $ | 222 |
(1) | Checking account required. |
(2) | The definitions and measurements used in our OCR process are periodically reviewed and updated prospectively. |
(3) | During the 2016 first quarter, there was a pricing change to a treasury management product that resulted in a one-time increase in our 4+ services data. |
Retail and Business Banking | ||||||||||||||
Table 31 - Key Performance Indicators for Retail and Business Banking | ||||||||||||||
(dollar amounts in thousands unless otherwise noted) | ||||||||||||||
Six months ended June 30, | Change | |||||||||||||
2016 | 2015 | Amount | Percent | |||||||||||
Net interest income | $ | 535,433 | $ | 505,571 | $ | 29,862 | 6 | % | ||||||
Provision for credit losses | 33,745 | 26,553 | 7,192 | 27 | ||||||||||
Noninterest income | 246,462 | 208,696 | 37,766 | 18 | ||||||||||
Noninterest expense | 552,530 | 516,851 | 35,679 | 7 | ||||||||||
Provision for income taxes | 68,467 | 59,802 | 8,665 | 14 | ||||||||||
Net income | $ | 127,153 | $ | 111,061 | $ | 16,092 | 14 | % | ||||||
Number of employees (average full-time equivalent) | 5,383 | 5,266 | 117 | 2 | % | |||||||||
Total average assets (in millions) | $ | 15,788 | $ | 15,536 | $ | 252 | 2 | |||||||
Total average loans/leases (in millions) | 13,671 | 13,580 | 91 | 1 | ||||||||||
Total average deposits (in millions) | 31,035 | 29,927 | 1,108 | 4 | ||||||||||
Net interest margin | 3.55 | % | 3.48 | % | 0.07 | % | 2 | |||||||
NCOs | $ | 27,278 | $ | 26,789 | $ | 489 | 2 | |||||||
NCOs as a % of average loans and leases | 0.40 | % | 0.39 | % | 0.01 | % | 3 |
Commercial Banking | ||||||||||||||
Table 32 - Key Performance Indicators for Commercial Banking | ||||||||||||||
(dollar amounts in thousands unless otherwise noted) | ||||||||||||||
Six months ended June 30, | Change | |||||||||||||
2016 | 2015 | Amount | Percent | |||||||||||
Net interest income | $ | 202,623 | $ | 169,315 | $ | 33,308 | 20 | % | ||||||
Provision for credit losses | 29,562 | 3,808 | 25,754 | 676 | ||||||||||
Noninterest income | 123,499 | 125,254 | (1,755 | ) | (1 | ) | ||||||||
Noninterest expense | 182,549 | 132,790 | 49,759 | 37 | ||||||||||
Provision for income taxes | 39,904 | 55,290 | (15,386 | ) | (28 | ) | ||||||||
Net income | $ | 74,107 | $ | 102,681 | $ | (28,574 | ) | (28 | )% | |||||
Number of employees (average full-time equivalent) | 1,205 | 1,099 | 106 | 10 | % | |||||||||
Total average assets (in millions) | $ | 17,515 | $ | 15,528 | $ | 1,987 | 13 | |||||||
Total average loans/leases (in millions) | 13,767 | 12,476 | 1,291 | 10 | ||||||||||
Total average deposits (in millions) | 11,075 | 10,988 | 87 | 1 | ||||||||||
Net interest margin | 2.75 | % | 2.60 | % | 0.15 | % | 6 | |||||||
NCOs | $ | 16,261 | $ | 12,261 | $ | 4,000 | 33 | |||||||
NCOs as a % of average loans and leases | 0.24 | % | 0.20 | % | 0.04 | % | 20 |
Automobile Finance and Commercial Real Estate | ||||||||||||||
Table 33 - Key Performance Indicators for Automobile Finance and Commercial Real Estate | ||||||||||||||
(dollar amounts in thousands unless otherwise noted) | ||||||||||||||
Six months ended June 30, | Change | |||||||||||||
2016 | 2015 | Amount | Percent | |||||||||||
Net interest income | $ | 191,171 | $ | 190,204 | $ | 967 | 1 | % | ||||||
Provision (reduction in allowance) for credit losses | (6,891 | ) | 2,115 | (9,006 | ) | (426 | ) | |||||||
Noninterest income | 17,840 | 16,249 | 1,591 | 10 | ||||||||||
Noninterest expense | 82,534 | 74,033 | 8,501 | 11 | ||||||||||
Provision for income taxes | 46,679 | 45,607 | 1,072 | 2 | ||||||||||
Net income | $ | 86,689 | $ | 84,698 | $ | 1,991 | 2 | % | ||||||
Number of employees (average full-time equivalent) | 310 | 294 | 16 | 5 | % | |||||||||
Total average assets (in millions) | $ | 18,350 | $ | 16,679 | $ | 1,671 | 10 | |||||||
Total average loans/leases (in millions) | 17,289 | 15,422 | 1,867 | 12 | ||||||||||
Total average deposits (in millions) | 1,644 | 1,432 | 212 | 15 | ||||||||||
Net interest margin | 2.17 | % | 2.38 | % | (0.21 | )% | (9 | ) | ||||||
NCOs | $ | (16,933 | ) | $ | 4,014 | $ | (20,947 | ) | (522 | ) | ||||
NCOs as a % of average loans and leases | (0.20 | )% | 0.05 | % | (0.25 | )% | (500 | ) |
Regional Banking and The Huntington Private Client Group | ||||||||||||||
Table 34 - Key Performance Indicators for Regional Banking and The Huntington Private Client Group | ||||||||||||||
(dollar amounts in thousands unless otherwise noted) | ||||||||||||||
Six months ended June 30, | Change | |||||||||||||
2016 | 2015 | Amount | Percent | |||||||||||
Net interest income | $ | 79,781 | $ | 54,575 | $ | 25,206 | 46 | % | ||||||
Provision (reduction in allowance) for credit losses | (1,500 | ) | 4,240 | (5,740 | ) | (135 | ) | |||||||
Noninterest income | 55,395 | 78,388 | (22,993 | ) | (29 | ) | ||||||||
Noninterest expense | 100,860 | 121,849 | (20,989 | ) | (17 | ) | ||||||||
Provision for income taxes | 12,536 | 2,406 | 10,130 | 421 | ||||||||||
Net income | $ | 23,280 | $ | 4,468 | $ | 18,812 | 421 | % | ||||||
Number of employees (average full-time equivalent) | 879 | 966 | (87 | ) | (9 | )% | ||||||||
Total average assets (in millions) | $ | 4,340 | $ | 3,361 | $ | 979 | 29 | |||||||
Total average loans/leases (in millions) | 3,894 | 2,910 | 984 | 34 | ||||||||||
Total average deposits (in millions) | 7,879 | 6,758 | 1,121 | 17 | ||||||||||
Net interest margin | 2.06 | % | 1.65 | % | 0.41 | % | 25 | |||||||
NCOs | $ | (3,015 | ) | $ | 4,028 | $ | (7,043 | ) | N.R. | |||||
NCOs as a % of average loans and leases | (0.15 | )% | 0.28 | % | (0.43 | )% | N.R. | |||||||
Total assets under management (in billions)—eop | $ | 12.2 | $ | 14.1 | $ | (1.9 | ) | (13 | ) | |||||
Total trust assets (in billions)—eop | 86.1 | 81.1 | 5.0 | 6 | % |
Home Lending | ||||||||||||||
Table 35 - Key Performance Indicators for Home Lending | ||||||||||||||
(dollar amounts in thousands unless otherwise noted) | ||||||||||||||
Six months ended June 30, | Change | |||||||||||||
2016 | 2015 | Amount | Percent | |||||||||||
Net interest income | $ | 27,433 | $ | 31,630 | $ | (4,197 | ) | (13 | )% | |||||
Provision (reduction in allowance) for credit losses | (2,825 | ) | 4,294 | (7,119 | ) | N.R. | ||||||||
Noninterest income | 33,971 | 50,634 | (16,663 | ) | (33 | ) | ||||||||
Noninterest expense | 52,063 | 77,427 | (25,364 | ) | (33 | ) | ||||||||
Provision for income taxes | 4,258 | 190 | 4,068 | N.R. | ||||||||||
Net income (loss) | $ | 7,908 | $ | 353 | $ | 7,555 | N.R. | |||||||
Number of employees (average full-time equivalent) | 982 | 954 | 28 | 3 | % | |||||||||
Total average assets (in millions) | $ | 3,126 | $ | 3,931 | $ | (805 | ) | (20 | ) | |||||
Total average loans/leases (in millions) | 2,558 | 3,336 | (778 | ) | (23 | ) | ||||||||
Total average deposits (in millions) | 351 | 354 | (3 | ) | (1 | ) | ||||||||
Net interest margin | 1.87 | % | 1.70 | % | 0.17 | % | 10 | |||||||
NCOs | $ | 1,717 | $ | 2,415 | $ | (698 | ) | (29 | ) | |||||
NCOs as a % of average loans and leases | 0.13 | % | 0.14 | % | (0.01 | )% | (7 | ) | ||||||
Mortgage banking origination volume (in millions) | $ | 2,535 | $ | 2,435 | $ | 100 | 4 |
• | Tangible common equity to tangible assets, and |
• | Tangible common equity to risk-weighted assets using Basel III definitions. |
(dollar amounts in thousands, except number of shares) | June 30, | December 31, | |||||
2016 | 2015 | ||||||
Assets | |||||||
Cash and due from banks | $ | 867,180 | $ | 847,156 | |||
Interest-bearing deposits in banks | 44,896 | 51,838 | |||||
Trading account securities | 35,289 | 36,997 | |||||
Loans held for sale (includes $614,626 and $337,577 respectively, measured at fair value) (1) | 786,993 | 474,621 | |||||
Available-for-sale and other securities | 9,653,038 | 8,775,441 | |||||
Held-to-maturity securities | 5,658,565 | 6,159,590 | |||||
Loans and leases (includes $37,903 and $34,637 respectively, measured at fair value) (1) | 52,543,421 | 50,341,099 | |||||
Allowance for loan and lease losses | (623,064 | ) | (597,843 | ) | |||
Net loans and leases | 51,920,357 | 49,743,256 | |||||
Bank owned life insurance | 1,777,628 | 1,757,668 | |||||
Premises and equipment | 596,642 | 620,540 | |||||
Goodwill | 676,869 | 676,869 | |||||
Other intangible assets | 47,666 | 54,978 | |||||
Servicing rights | 159,467 | 189,237 | |||||
Accrued income and other assets | 1,729,427 | 1,630,110 | |||||
Total assets | $ | 73,954,017 | $ | 71,018,301 | |||
Liabilities and shareholders’ equity | |||||||
Liabilities | |||||||
Deposits | $ | 55,043,465 | $ | 55,294,979 | |||
Short-term borrowings | 1,956,745 | 615,279 | |||||
Long-term debt | 7,929,820 | 7,041,364 | |||||
Accrued expenses and other liabilities | 1,516,683 | 1,472,073 | |||||
Total liabilities | 66,446,713 | 64,423,695 | |||||
Shareholders’ equity | |||||||
Preferred stock | 971,278 | 386,291 | |||||
Common stock | 8,015 | 7,970 | |||||
Capital surplus | 7,074,249 | 7,038,502 | |||||
Less treasury shares, at cost | (21,358 | ) | (17,932 | ) | |||
Accumulated other comprehensive loss | (134,042 | ) | (226,158 | ) | |||
Retained (deficit) earnings | (390,838 | ) | (594,067 | ) | |||
Total shareholders’ equity | 7,507,304 | 6,594,606 | |||||
Total liabilities and shareholders’ equity | $ | 73,954,017 | $ | 71,018,301 | |||
Common shares authorized (par value of $0.01) | 1,500,000,000 | 1,500,000,000 | |||||
Common shares issued | 801,528,870 | 796,969,694 | |||||
Common shares outstanding | 799,153,996 | 794,928,886 | |||||
Treasury shares outstanding | 2,374,874 | 2,040,808 | |||||
Preferred stock, authorized shares | 6,617,808 | 6,617,808 | |||||
Preferred shares issued | 2,602,571 | 1,967,071 | |||||
Preferred shares outstanding | 998,006 | 398,006 |
(1) | Amounts represent loans for which Huntington has elected the fair value option. |
Huntington Bancshares Incorporated | ||||||||||||||||
Condensed Consolidated Statements of Income | ||||||||||||||||
(Unaudited) | ||||||||||||||||
(dollar amounts in thousands, except per share amounts) | ||||||||||||||||
Three Months Ended June 30, | Six months ended June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
Interest and fee income: | ||||||||||||||||
Loans and leases | $ | 469,770 | $ | 436,564 | $ | 933,192 | $ | 857,177 | ||||||||
Available-for-sale and other securities | ||||||||||||||||
Taxable | 40,992 | 51,525 | 80,606 | 99,381 | ||||||||||||
Tax-exempt | 13,795 | 10,319 | 26,814 | 19,605 | ||||||||||||
Held-to-maturity securities—taxable | 35,420 | 20,742 | 72,209 | 41,408 | ||||||||||||
Other | 5,681 | 10,645 | 10,088 | 14,320 | ||||||||||||
Total interest income | 565,658 | 529,795 | 1,122,909 | 1,031,891 | ||||||||||||
Interest expense: | ||||||||||||||||
Deposits | 22,324 | 19,865 | 45,342 | 39,433 | ||||||||||||
Short-term borrowings | 913 | 731 | 1,811 | 1,273 | ||||||||||||
Federal Home Loan Bank advances | 72 | 71 | 141 | 447 | ||||||||||||
Subordinated notes and other long-term debt | 36,468 | 18,442 | 66,668 | 32,367 | ||||||||||||
Total interest expense | 59,777 | 39,109 | 113,962 | 73,520 | ||||||||||||
Net interest income | 505,881 | 490,686 | 1,008,947 | 958,371 | ||||||||||||
Provision for credit losses | 24,509 | 20,419 | 52,091 | 41,010 | ||||||||||||
Net interest income after provision for credit losses | 481,372 | 470,267 | 956,856 | 917,361 | ||||||||||||
Service charges on deposit accounts | 75,613 | 70,118 | 145,875 | 132,338 | ||||||||||||
Cards and payment processing income | 39,184 | 35,886 | 75,631 | 68,457 | ||||||||||||
Mortgage banking income | 31,591 | 38,518 | 50,134 | 61,479 | ||||||||||||
Trust services | 22,497 | 26,550 | 45,335 | 55,589 | ||||||||||||
Insurance income | 15,947 | 17,637 | 32,172 | 33,532 | ||||||||||||
Brokerage income | 14,599 | 15,184 | 30,101 | 30,684 | ||||||||||||
Capital markets fees | 13,037 | 13,192 | 26,047 | 27,097 | ||||||||||||
Bank owned life insurance income | 12,536 | 13,215 | 26,049 | 26,240 | ||||||||||||
Gain on sale of loans | 9,265 | 12,453 | 14,660 | 17,042 | ||||||||||||
Net gains on sales of securities | 732 | 82 | 732 | 82 | ||||||||||||
Impairment losses recognized in earnings on available-for-sale securities | (76 | ) | — | (76 | ) | — | ||||||||||
Other noninterest income | 36,187 | 38,938 | 66,319 | 60,856 | ||||||||||||
Total noninterest income | 271,112 | 281,773 | 512,979 | 513,396 | ||||||||||||
Personnel costs | 298,949 | 282,135 | 584,346 | 547,051 | ||||||||||||
Outside data processing and other services | 63,037 | 58,508 | 124,915 | 109,043 | ||||||||||||
Equipment | 31,805 | 31,694 | 64,381 | 61,943 | ||||||||||||
Net occupancy | 30,704 | 28,861 | 62,180 | 59,881 | ||||||||||||
Marketing | 14,773 | 15,024 | 27,041 | 27,999 | ||||||||||||
Professional services | 21,488 | 12,593 | 35,026 | 25,320 | ||||||||||||
Deposit and other insurance expense | 12,187 | 11,787 | 23,395 | 21,954 | ||||||||||||
Amortization of intangibles | 3,600 | 9,960 | 7,312 | 20,166 | ||||||||||||
Other noninterest expense | 47,118 | 41,215 | 86,145 | 77,277 | ||||||||||||
Total noninterest expense | 523,661 | 491,777 | 1,014,741 | 950,634 | ||||||||||||
Income before income taxes | 228,823 | 260,263 | 455,094 | 480,123 | ||||||||||||
Provision for income taxes | 54,283 | 64,057 | 109,240 | 118,063 | ||||||||||||
Net income | 174,540 | 196,206 | 345,854 | 362,060 | ||||||||||||
Dividends on preferred shares | 19,874 | 7,968 | 27,872 | 15,933 | ||||||||||||
Net income applicable to common shares | $ | 154,666 | $ | 188,238 | $ | 317,982 | $ | 346,127 |
Average common shares—basic | 798,167 | 806,891 | 796,961 | 808,335 | ||||||||||||
Average common shares—diluted | 810,371 | 820,238 | 809,360 | 822,023 | ||||||||||||
Per common share: | ||||||||||||||||
Net income—basic | $ | 0.19 | $ | 0.23 | $ | 0.40 | $ | 0.43 | ||||||||
Net income—diluted | 0.19 | 0.23 | 0.39 | 0.42 | ||||||||||||
Cash dividends declared | 0.07 | 0.06 | 0.14 | 0.12 | ||||||||||||
OTTI losses for the periods presented: | ||||||||||||||||
Total OTTI losses | $ | (76 | ) | $ | — | $ | (3,809 | ) | $ | — | ||||||
Noncredit-related portion of loss recognized in OCI | — | — | 3,733 | — | ||||||||||||
Impairment losses recognized in earnings on available-for-sale securities | $ | (76 | ) | $ | — | $ | (76 | ) | $ | — | ||||||
See Notes to Unaudited Condensed Consolidated Financial Statements |
Three Months Ended June 30, | Six months ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Net income | $ | 174,540 | $ | 196,206 | $ | 345,854 | $ | 362,060 | |||||||
Other comprehensive income, net of tax: | |||||||||||||||
Unrealized gains on available-for-sale and other securities: | |||||||||||||||
Non-credit-related impairment recoveries (losses) on debt securities not expected to be sold | 667 | 8,720 | (1,682 | ) | 12,110 | ||||||||||
Unrealized net gains (losses) on available-for-sale and other securities arising during the period, net of reclassification for net realized gains and losses | 30,603 | (33,812 | ) | 82,154 | 5,140 | ||||||||||
Total unrealized gains (losses) on available-for-sale securities | 31,270 | (25,092 | ) | 80,472 | 17,250 | ||||||||||
Unrealized gains (losses) on cash flow hedging derivatives, net of reclassifications to income | 1,134 | (629 | ) | 9,963 | 17,586 | ||||||||||
Change in accumulated unrealized losses for pension and other post-retirement obligations | 840 | 903 | 1,681 | 1,806 | |||||||||||
Other comprehensive income (loss), net of tax | 33,244 | (24,818 | ) | 92,116 | 36,642 | ||||||||||
Comprehensive income | $ | 207,784 | $ | 171,388 | $ | 437,970 | $ | 398,702 |
Accumulated Other Comprehensive Gain (Loss) | Retained Earnings (Deficit) | ||||||||||||||||||||||||||||||||
(All amounts in thousands, except for per share amounts) | Preferred Stock | Common Stock | Capital Surplus | Treasury Stock | |||||||||||||||||||||||||||||
Amount | Shares | Amount | Shares | Amount | Total | ||||||||||||||||||||||||||||
Six months ended June 30, 2015 | |||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 386,292 | 813,136 | $ | 8,131 | $ | 7,221,745 | (1,682 | ) | $ | (13,382 | ) | $ | (222,292 | ) | $ | (1,052,324 | ) | $ | 6,328,170 | |||||||||||||
Net income | 362,060 | 362,060 | |||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 36,642 | 36,642 | |||||||||||||||||||||||||||||||
Repurchase of common stock | (13,783 | ) | (138 | ) | (150,709 | ) | (150,847 | ) | |||||||||||||||||||||||||
Cash dividends declared: | |||||||||||||||||||||||||||||||||
Common ($0.12 per share) | (96,732 | ) | (96,732 | ) | |||||||||||||||||||||||||||||
Preferred Series A ($42.50 per share) | (15,407 | ) | (15,407 | ) | |||||||||||||||||||||||||||||
Preferred Series B ($14.85 per share) | (526 | ) | (526 | ) | |||||||||||||||||||||||||||||
Recognition of the fair value of share-based compensation | 25,573 | 25,573 | |||||||||||||||||||||||||||||||
Other share-based compensation activity | 5,642 | 57 | 12,227 | (1,935 | ) | 10,349 | |||||||||||||||||||||||||||
Other | 41 | — | 657 | (288 | ) | (3,661 | ) | (20 | ) | (3,024 | ) | ||||||||||||||||||||||
Balance, end of period | $ | 386,292 | 805,036 | $ | 8,050 | $ | 7,109,493 | (1,970 | ) | $ | (17,043 | ) | $ | (185,650 | ) | $ | (804,884 | ) | $ | 6,496,258 | |||||||||||||
Six months ended June 30, 2016 | |||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 386,291 | 796,970 | $ | 7,970 | $ | 7,038,502 | (2,041 | ) | $ | (17,932 | ) | $ | (226,158 | ) | $ | (594,067 | ) | $ | 6,594,606 | |||||||||||||
Net income | 345,854 | 345,854 | |||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 92,116 | 92,116 | |||||||||||||||||||||||||||||||
Net proceeds from issuance of Series D preferred stock | 584,987 | 584,987 | |||||||||||||||||||||||||||||||
Cash dividends declared: | |||||||||||||||||||||||||||||||||
Common ($0.14 per share) | (111,735 | ) | (111,735 | ) | |||||||||||||||||||||||||||||
Preferred Series A ($42.50 per share) | (15,407 | ) | (15,407 | ) | |||||||||||||||||||||||||||||
Preferred Series B ($16.63 per share) | (590 | ) | (590 | ) | |||||||||||||||||||||||||||||
Preferred Series D ($19.79 per share) | (11,875 | ) | (11,875 | ) | |||||||||||||||||||||||||||||
Recognition of the fair value of share-based compensation | 27,799 | 27,799 | |||||||||||||||||||||||||||||||
Other share-based compensation activity | 4,559 | 45 | 7,872 | (3,004 | ) | 4,913 | |||||||||||||||||||||||||||
Other | 76 | (334 | ) | (3,426 | ) | (14 | ) | (3,364 | ) | ||||||||||||||||||||||||
Balance, end of period | $ | 971,278 | 801,529 | $ | 8,015 | $ | 7,074,249 | (2,375 | ) | $ | (21,358 | ) | $ | (134,042 | ) | $ | (390,838 | ) | $ | 7,507,304 |
Six months ended June 30, | |||||||
(dollar amounts in thousands) | 2016 | 2015 | |||||
Operating activities | |||||||
Net income | $ | 345,854 | $ | 362,060 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
Provision for credit losses | 52,091 | 41,010 | |||||
Depreciation and amortization | 208,249 | 167,957 | |||||
Share-based compensation expense | 27,799 | 25,573 | |||||
Net gain on sales of securities | (656 | ) | (82 | ) | |||
Net change in: | |||||||
Trading account securities | 1,708 | (16,955 | ) | ||||
Loans held for sale | (307,880 | ) | (242,111 | ) | |||
Accrued income and other assets | (97,334 | ) | (175,467 | ) | |||
Deferred income taxes | (6,864 | ) | 24,138 | ||||
Accrued expense and other liabilities | 70,554 | (84,512 | ) | ||||
Other, net | (6,883 | ) | (15,516 | ) | |||
Net cash provided by (used for) operating activities | 286,638 | 86,095 | |||||
Investing activities | |||||||
Change in interest bearing deposits in banks | 6,942 | (6,850 | ) | ||||
Cash paid for acquisition of a business, net of cash received | — | (457,836 | ) | ||||
Proceeds from: | |||||||
Maturities and calls of available-for-sale and other securities | 467,633 | 916,486 | |||||
Maturities of held-to-maturity securities | 495,645 | 288,706 | |||||
Sales of available-for-sale and other securities | 170,986 | 20,126 | |||||
Purchases of available-for-sale and other securities | (1,405,035 | ) | (1,798,749 | ) | |||
Purchases of held-to-maturity securities | — | (215,447 | ) | ||||
Net proceeds from securitization | — | 780,117 | |||||
Net proceeds from sales of portfolio loans | 234,608 | 203,058 | |||||
Net loan and lease activity, excluding sales and purchases | (2,220,929 | ) | (1,172,432 | ) | |||
Purchases of premises and equipment | (19,846 | ) | (43,093 | ) | |||
Proceeds from sales of other real estate | 13,290 | 21,025 | |||||
Purchases of loans and leases | (341,985 | ) | (58,341 | ) | |||
Other, net | 2,698 | 1,327 | |||||
Net cash provided by (used for) investing activities | (2,595,993 | ) | (1,521,903 | ) | |||
Financing activities | |||||||
Increase (decrease) in deposits | (256,333 | ) | 1,821,169 | ||||
Increase (decrease) in short-term borrowings | 1,335,888 | (888,979 | ) | ||||
Sale of deposits | — | (47,521 | ) | ||||
Net proceeds from issuance of long-term debt | 1,051,794 | 1,746,938 | |||||
Maturity/redemption of long-term debt | (255,750 | ) | (789,408 | ) | |||
Dividends paid on preferred stock | (27,872 | ) | (15,933 | ) | |||
Dividends paid on common stock | (112,087 | ) | (97,310 | ) | |||
Repurchases of common stock | — | (150,847 | ) | ||||
Proceeds from stock options exercised | 3,887 | 6,517 | |||||
Net proceeds from issuance of preferred stock | 584,987 | — | |||||
Other, net | 4,865 | 10,586 | |||||
Net cash provided by (used for) financing activities | 2,329,379 | 1,595,212 |
Increase (decrease) in cash and cash equivalents | 20,024 | 159,404 | |||||
Cash and cash equivalents at beginning of period | 847,156 | 1,220,565 | |||||
Cash and cash equivalents at end of period | $ | 867,180 | $ | 1,379,969 |
Supplemental disclosures: | |||||||
Interest paid | $ | 107,428 | $ | 67,381 | |||
Income taxes paid (refunded) | 3,099 | 87,986 | |||||
Non-cash activities | |||||||
Loans transferred to held-for-sale from portfolio | 266,527 | 111,588 | |||||
Loans transferred to portfolio from held-for-sale | 10,661 | 15,726 | |||||
Transfer of loans to OREO | 12,974 | 13,028 |
(dollar amounts in thousands) | June 30, 2016 | December 31, 2015 | |||||
Loans and leases: | |||||||
Commercial and industrial | $ | 21,372,474 | $ | 20,559,834 | |||
Commercial real estate | 5,322,068 | 5,268,651 | |||||
Automobile | 10,380,644 | 9,480,678 | |||||
Home equity | 8,447,066 | 8,470,482 | |||||
Residential mortgage | 6,377,017 | 5,998,400 | |||||
Other consumer | 644,152 | 563,054 | |||||
Loans and leases | 52,543,421 | 50,341,099 | |||||
Allowance for loan and lease losses | (623,064 | ) | (597,843 | ) | |||
Net loans and leases | $ | 51,920,357 | $ | 49,743,256 |
Portfolio | Class |
Commercial and industrial | Owner occupied |
Purchased credit-impaired | |
Other commercial and industrial | |
Commercial real estate | Retail properties |
Multi-family | |
Office | |
Industrial and warehouse | |
Purchased credit-impaired | |
Other commercial real estate | |
Automobile | NA (1) |
Home equity | Secured by first-lien |
Secured by junior-lien | |
Residential mortgage | Residential mortgage |
Purchased credit-impaired | |
Other consumer | Other consumer |
Purchased credit-impaired |
(1) | Not applicable. The automobile loan portfolio is not further segregated into classes. |
(dollar amounts in thousands) | Commercial and Industrial | Commercial Real Estate | Automobile | Home Equity | Residential Mortgage | Other Consumer | Total | |||||||||||||||||||||
Portfolio loans and leases purchased or transferred from held for sale during the: | ||||||||||||||||||||||||||||
Three-month period ended June 30, 2016 | $ | 35,198 | $ | — | $ | — | $ | — | $ | 1,669 | $ | — | $ | 36,867 | ||||||||||||||
Six-month period ended June 30, 2016 | $ | 338,172 | $ | — | $ | — | $ | — | $ | 3,813 | $ | — | $ | 341,985 | ||||||||||||||
Three-month period ended June 30, 2015 | 31,905 | — | — | — | 2,754 | $ | — | 34,659 | ||||||||||||||||||||
Six-month period ended June 30, 2015 | 44,496 | — | — | — | 6,637 | — | 51,133 | |||||||||||||||||||||
Portfolio loans and leases sold or transferred to loans held for sale during the: | ||||||||||||||||||||||||||||
Three-month period ended June 30, 2016 | $ | 96,278 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 96,278 | ||||||||||||||
Six-month period ended June 30, 2016 | $ | 240,797 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 240,797 | ||||||||||||||
Three-month period ended June 30, 2015 | 100,202 | — | — | — | — | — | 100,202 | |||||||||||||||||||||
Six-month period ended June 30, 2015 | 185,902 | — | 764,540 | (1) | — | — | — | 950,442 |
(1) | Reflects the transfer of approximately $1.0 billion automobile loans to loans held-for-sale at March 31, 2015, net of approximately $262 million of automobile loans transferred back to loans and leases in the 2015 second quarter. |
(dollar amounts in thousands) | June 30, 2016 | December 31, 2015 | |||||
Commercial and industrial: | |||||||
Owner occupied | $ | 27,624 | $ | 35,481 | |||
Other commercial and industrial | 262,187 | 139,714 | |||||
Total commercial and industrial | 289,811 | 175,195 | |||||
Commercial real estate: | |||||||
Retail properties | 2,345 | 7,217 | |||||
Multi-family | 5,819 | 5,819 | |||||
Office | 10,742 | 10,495 | |||||
Industrial and warehouse | 1,864 | 2,202 | |||||
Other commercial real estate | 2,893 | 3,251 | |||||
Total commercial real estate | 23,663 | 28,984 | |||||
Automobile | 5,049 | 6,564 | |||||
Home equity: | |||||||
Secured by first-lien | 33,279 | 35,389 | |||||
Secured by junior-lien | 23,566 | 30,889 | |||||
Total home equity | 56,845 | 66,278 | |||||
Residential mortgage | 85,174 | 94,560 | |||||
Other consumer | 5 | — | |||||
Total nonaccrual loans | $ | 460,547 | $ | 371,581 |
June 30, 2016 | ||||||||||||||||||||||||||||
Past Due | Total Loans and Leases | 90 or more days past due and accruing | ||||||||||||||||||||||||||
(dollar amounts in thousands) | 30-59 Days | 60-89 Days | 90 or more days | Total | Current | |||||||||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||||||||
Owner occupied | $ | 3,143 | $ | 3,336 | $ | 10,779 | $ | 17,258 | $ | 3,934,039 | $ | 3,951,297 | $ | — | ||||||||||||||
Purchased credit-impaired | 178 | 172 | 3,750 | 4,100 | 5,076 | 9,176 | 3,750 | (2) | ||||||||||||||||||||
Other commercial and industrial | 16,936 | 7,229 | 44,420 | 68,585 | 17,343,416 | 17,412,001 | 1,866 | (3) | ||||||||||||||||||||
Total commercial and industrial | 20,257 | 10,737 | 58,949 | 89,943 | 21,282,531 | 21,372,474 | 5,616 | |||||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||||||
Retail properties | 86 | 199 | 810 | 1,095 | 1,600,914 | 1,602,009 | — | |||||||||||||||||||||
Multi-family | 507 | 802 | 1,892 | 3,201 | 999,638 | 1,002,839 | — | |||||||||||||||||||||
Office | — | 40 | 10,519 | 10,559 | 845,284 | 855,843 | — | |||||||||||||||||||||
Industrial and warehouse | 156 | 324 | 894 | 1,374 | 490,912 | 492,286 | — | |||||||||||||||||||||
Purchased credit-impaired | — | 335 | 10,799 | 11,134 | 5,939 | 17,073 | 10,799 | (2) | ||||||||||||||||||||
Other commercial real estate | 351 | 620 | 1,713 | 2,684 | 1,349,334 | 1,352,018 | — |
Total commercial real estate | 1,100 | 2,320 | 26,627 | 30,047 | 5,292,021 | 5,322,068 | 10,799 | |||||||||||||||||||||
Automobile | 61,988 | 13,900 | 5,589 | 81,477 | 10,299,167 | 10,380,644 | 5,452 | |||||||||||||||||||||
Home equity: | ||||||||||||||||||||||||||||
Secured by first-lien | 12,311 | 7,008 | 24,565 | 43,884 | 5,198,668 | 5,242,552 | 4,775 | |||||||||||||||||||||
Secured by junior-lien | 15,514 | 6,844 | 21,261 | 43,619 | 3,160,895 | 3,204,514 | 2,804 | |||||||||||||||||||||
Total home equity | 27,825 | 13,852 | 45,826 | 87,503 | 8,359,563 | 8,447,066 | 7,579 | |||||||||||||||||||||
Residential mortgage: | ||||||||||||||||||||||||||||
Residential mortgage | 86,760 | 35,127 | 110,859 | 232,746 | 6,143,167 | 6,375,913 | 67,488 | (4) | ||||||||||||||||||||
Purchased credit-impaired | — | — | — | — | 1,104 | 1,104 | — | |||||||||||||||||||||
Total residential mortgage | 86,760 | 35,127 | 110,859 | 232,746 | 6,144,271 | 6,377,017 | 67,488 | |||||||||||||||||||||
Other consumer: | ||||||||||||||||||||||||||||
Other consumer | 7,323 | 2,377 | 1,645 | 11,345 | 632,807 | 644,152 | 1,645 | |||||||||||||||||||||
Purchased credit-impaired | — | — | — | — | — | — | — | |||||||||||||||||||||
Total other consumer | 7,323 | 2,377 | 1,645 | 11,345 | 632,807 | 644,152 | 1,645 | |||||||||||||||||||||
Total loans and leases | $ | 205,253 | $ | 78,313 | $ | 249,495 | $ | 533,061 | $ | 52,010,360 | $ | 52,543,421 | $ | 98,579 |
December 31, 2015 | ||||||||||||||||||||||||||||
Past Due | Total Loans and Leases | 90 or more days past due and accruing | ||||||||||||||||||||||||||
(dollar amounts in thousands) | 30-59 Days | 60-89 Days | 90 or more days | Total | Current | |||||||||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||||||||
Owner occupied | $ | 11,947 | $ | 3,613 | $ | 13,793 | $ | 29,353 | $ | 3,983,447 | $ | 4,012,800 | $ | — | ||||||||||||||
Purchased credit-impaired | 292 | 1,436 | 5,949 | 7,677 | 13,340 | 21,017 | 5,949 | (2) | ||||||||||||||||||||
Other commercial and industrial | 32,476 | 8,531 | 27,236 | 68,243 | 16,457,774 | 16,526,017 | 2,775 | (3) | ||||||||||||||||||||
Total commercial and industrial | 44,715 | 13,580 | 46,978 | 105,273 | 20,454,561 | 20,559,834 | 8,724 | |||||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||||||
Retail properties | 1,823 | 195 | 3,637 | 5,655 | 1,501,054 | 1,506,709 | — | |||||||||||||||||||||
Multi family | 961 | 1,137 | 2,691 | 4,789 | 1,073,429 | 1,078,218 | — | |||||||||||||||||||||
Office | 5,022 | 256 | 3,016 | 8,294 | 886,331 | 894,625 | — | |||||||||||||||||||||
Industrial and warehouse | 93 | — | 373 | 466 | 503,701 | 504,167 | — | |||||||||||||||||||||
Purchased credit-impaired | 102 | 3,818 | 9,549 | 13,469 | 289 | 13,758 | 9,549 | (2) | ||||||||||||||||||||
Other commercial real estate | 1,231 | 315 | 2,400 | 3,946 | 1,267,228 | 1,271,174 | — | |||||||||||||||||||||
Total commercial real estate | 9,232 | 5,721 | 21,666 | 36,619 | 5,232,032 | 5,268,651 | 9,549 | |||||||||||||||||||||
Automobile | 69,553 | 14,965 | 7,346 | 91,864 | 9,388,814 | 9,480,678 | 7,162 | |||||||||||||||||||||
Home equity | ||||||||||||||||||||||||||||
Secured by first-lien | 18,349 | 7,576 | 26,304 | 52,229 | 5,139,256 | 5,191,485 | 4,499 | |||||||||||||||||||||
Secured by junior-lien | 18,128 | 9,329 | 29,996 | 57,453 | 3,221,544 | 3,278,997 | 4,545 | |||||||||||||||||||||
Total home equity | 36,477 | 16,905 | 56,300 | 109,682 | 8,360,800 | 8,470,482 | 9,044 | |||||||||||||||||||||
Residential mortgage | ||||||||||||||||||||||||||||
Residential mortgage | 102,670 | 34,298 | 119,354 | 256,322 | 5,740,624 | 5,996,946 | 69,917 | (5) |
Purchased credit-impaired | 103 | — | — | 103 | 1,351 | 1,454 | — | |||||||||||||||||||||
Total residential mortgage | 102,773 | 34,298 | 119,354 | 256,425 | 5,741,975 | 5,998,400 | 69,917 | |||||||||||||||||||||
Other consumer | ||||||||||||||||||||||||||||
Other consumer | 6,469 | 1,852 | 1,395 | 9,716 | 553,286 | 563,002 | 1,394 | |||||||||||||||||||||
Purchased credit-impaired | — | — | — | — | 52 | 52 | — | |||||||||||||||||||||
Total other consumer | 6,469 | 1,852 | 1,395 | 9,716 | 553,338 | 563,054 | 1,394 | |||||||||||||||||||||
Total loans and leases | $ | 269,219 | $ | 87,321 | $ | 253,039 | $ | 609,579 | $ | 49,731,520 | $ | 50,341,099 | $ | 105,790 |
(1) | NALs are included in this aging analysis based on the loan’s past due status. |
(2) | Amounts represent accruing purchased impaired loans related to acquisitions. Under the applicable accounting guidance (ASC 310-30), the loans were recorded at fair value upon acquisition and remain in accruing status. |
(3) | Amounts include Huntington Technology Finance administrative lease delinquencies. |
(4) | Includes $56 million guaranteed by the U.S. government. |
(5) | Includes $56 million guaranteed by the U.S. government. |
(dollar amounts in thousands) | Commercial and Industrial | Commercial Real Estate | Automobile | Home Equity | Residential Mortgage | Other Consumer | Total | ||||||||||||||||||||
Three-month period ended June 30, 2016: | |||||||||||||||||||||||||||
ALLL balance, beginning of period | $ | 320,367 | $ | 102,074 | $ | 48,032 | $ | 78,102 | $ | 40,842 | $ | 24,302 | $ | 613,719 | |||||||||||||
Loan charge-offs | (14,743 | ) | (2,190 | ) | (8,850 | ) | (5,910 | ) | (2,923 | ) | (8,929 | ) | (43,545 | ) | |||||||||||||
Recoveries of loans previously charged-off | 11,041 | 2,863 | 4,530 | 4,832 | 2,147 | 1,377 | 26,790 | ||||||||||||||||||||
Provision (reduction in allowance) for loan and lease losses | 6,800 | (1,705 | ) | 6,819 | (542 | ) | 2,312 | 12,402 | 26,086 | ||||||||||||||||||
Write-downs of loans sold or transferred to loans held for sale | — | — | — | — | 14 | — | 14 | ||||||||||||||||||||
ALLL balance, end of period | $ | 323,465 | $ | 101,042 | $ | 50,531 | $ | 76,482 | $ | 42,392 | $ | 29,152 | $ | 623,064 | |||||||||||||
AULC balance, beginning of period | $ | 58,385 | $ | 7,487 | $ | — | $ | 2,110 | $ | 20 | $ | 7,323 | $ | 75,325 | |||||||||||||
Provision (reduction in allowance) for unfunded loan commitments and letters of credit | (2,343 | ) | 188 | — | 40 | (11 | ) | 549 | (1,577 | ) | |||||||||||||||||
AULC balance, end of period | $ | 56,042 | $ | 7,675 | $ | — | $ | 2,150 | $ | 9 | $ | 7,872 | $ | 73,748 | |||||||||||||
ACL balance, end of period | $ | 379,507 | $ | 108,717 | $ | 50,531 | $ | 78,632 | $ | 42,401 | $ | 37,024 | $ | 696,812 | |||||||||||||
Six-month period ended June 30, 2016: | |||||||||||||||||||||||||||
ALLL balance, beginning of period | $ | 298,746 | $ | 100,007 | $ | 49,504 | $ | 83,671 | $ | 41,646 | $ | 24,269 | $ | 597,843 | |||||||||||||
Loan charge-offs | (31,566 | ) | (14,316 | ) | (20,336 | ) | (13,620 | ) | (5,683 | ) | (17,716 | ) | (103,237 | ) | |||||||||||||
Recoveries of loans previously charged-off | 21,350 | 32,465 | 9,246 | 8,861 | 3,260 | 2,748 | 77,930 | ||||||||||||||||||||
Provision (reduction in allowance) for loan and lease losses | 34,935 | (17,114 | ) | 12,117 | (2,430 | ) | 3,065 | 19,851 | 50,424 | ||||||||||||||||||
Write-downs of loans sold or transferred to loans held for sale | — | — | — | — | 104 | — | 104 | ||||||||||||||||||||
ALLL balance, end of period | $ | 323,465 | $ | 101,042 | $ | 50,531 | $ | 76,482 | $ | 42,392 | $ | 29,152 | $ | 623,064 | |||||||||||||
AULC balance, beginning of period | $ | 55,886 | $ | 7,562 | $ | — | $ | 2,068 | $ | 18 | $ | 6,547 | $ | 72,081 | |||||||||||||
Provision for (reduction in allowance) unfunded loan commitments and letters of credit | 156 | 113 | — | 82 | (9 | ) | 1,325 | 1,667 | |||||||||||||||||||
AULC balance, end of period | $ | 56,042 | $ | 7,675 | $ | — | $ | 2,150 | $ | 9 | $ | 7,872 | $ | 73,748 | |||||||||||||
ACL balance, end of period | $ | 379,507 | $ | 108,717 | $ | 50,531 | $ | 78,632 | $ | 42,401 | $ | 37,024 | $ | 696,812 |
(dollar amounts in thousands) | Commercial and Industrial | Commercial Real Estate | Automobile | Home Equity | Residential Mortgage | Other Consumer | Total | ||||||||||||||||||||
Three-month period ended June 30, 2015: | |||||||||||||||||||||||||||
ALLL balance, beginning of period | $ | 284,573 | $ | 100,752 | $ | 37,125 | $ | 110,280 | $ | 55,380 | $ | 17,016 | $ | 605,126 | |||||||||||||
Loan charge-offs | (12,213 | ) | (8,288 | ) | (7,691 | ) | (8,629 | ) | (3,610 | ) | (6,539 | ) | (46,970 | ) | |||||||||||||
Recoveries of loans previously charged-off | 7,802 | 2,763 | 4,249 | 3,979 | 1,468 | 1,334 | 21,595 | ||||||||||||||||||||
Provision for (reduction in allowance) loan and lease losses | 4,879 | (3,167 | ) | 5,418 | 5,548 | (1,559 | ) | 8,671 | 19,790 | ||||||||||||||||||
Allowance for loans sold or transferred to loans held for sale | — | — | 1 | — | — | — | 1 | ||||||||||||||||||||
ALLL balance, end of period | $ | 285,041 | $ | 92,060 | $ | 39,102 | $ | 111,178 | $ | 51,679 | $ | 20,482 | $ | 599,542 | |||||||||||||
AULC balance, beginning of period | $ | 42,315 | $ | 5,531 | $ | — | $ | 2,639 | $ | 9 | $ | 4,248 | $ | 54,742 | |||||||||||||
Provision for (reduction in allowance) unfunded loan commitments and letters of credit | (466 | ) | 247 | — | (117 | ) | 8 | 957 | 629 | ||||||||||||||||||
AULC balance, end of period | $ | 41,849 | $ | 5,778 | $ | — | $ | 2,522 | $ | 17 | $ | 5,205 | $ | 55,371 | |||||||||||||
ACL balance, end of period | $ | 326,890 | $ | 97,838 | $ | 39,102 | $ | 113,700 | $ | 51,696 | $ | 25,687 | $ | 654,913 | |||||||||||||
Six-month period ended June 30, 2015: | |||||||||||||||||||||||||||
ALLL balance, beginning of period | $ | 286,995 | $ | 102,839 | $ | 33,466 | $ | 96,413 | $ | 47,211 | $ | 38,272 | $ | 605,196 | |||||||||||||
Loan charge-offs | (36,825 | ) | (10,301 | ) | (15,794 | ) | (17,215 | ) | (8,473 | ) | (13,437 | ) | (102,045 | ) | |||||||||||||
Recoveries of loans previously charged-off | 21,011 | 8,788 | 8,104 | 7,940 | 3,515 | 2,880 | 52,238 | ||||||||||||||||||||
Provision for (reduction in allowance) loan and lease losses | 13,860 | (9,266 | ) | 15,618 | 24,040 | 9,426 | (7,233 | ) | 46,445 | ||||||||||||||||||
Allowance for loans sold or transferred to loans held for sale | — | — | (2,292 | ) | — | — | — | (2,292 | ) | ||||||||||||||||||
ALLL balance, end of period | $ | 285,041 | $ | 92,060 | $ | 39,102 | $ | 111,178 | $ | 51,679 | $ | 20,482 | $ | 599,542 | |||||||||||||
AULC balance, beginning of period | $ | 48,988 | $ | 6,041 | $ | — | $ | 1,924 | $ | 8 | $ | 3,845 | $ | 60,806 | |||||||||||||
Provision for (reduction in allowance) unfunded loan commitments and letters of credit | (7,139 | ) | (263 | ) | — | 598 | 9 | 1,360 | (5,435 | ) | |||||||||||||||||
AULC balance, end of period | $ | 41,849 | $ | 5,778 | $ | — | $ | 2,522 | $ | 17 | $ | 5,205 | $ | 55,371 | |||||||||||||
ACL balance, end of period | $ | 326,890 | $ | 97,838 | $ | 39,102 | $ | 113,700 | $ | 51,696 | $ | 25,687 | $ | 654,913 |
June 30, 2016 | |||||||||||||||||||
Credit Risk Profile by UCS Classification | |||||||||||||||||||
(dollar amounts in thousands) | Pass | OLEM | Substandard | Doubtful | Total | ||||||||||||||
Commercial and industrial: | |||||||||||||||||||
Owner occupied | $ | 3,708,602 | $ | 83,694 | $ | 158,248 | $ | 753 | $ | 3,951,297 | |||||||||
Purchased credit-impaired | 1,484 | 293 | 7,379 | 20 | 9,176 | ||||||||||||||
Other commercial and industrial | 16,315,278 | 316,141 | 776,383 | 4,199 | 17,412,001 | ||||||||||||||
Total commercial and industrial | 20,025,364 | 400,128 | 942,010 | 4,972 | 21,372,474 | ||||||||||||||
Commercial real estate: | |||||||||||||||||||
Retail properties | 1,582,809 | 8,297 | 10,903 | — | 1,602,009 | ||||||||||||||
Multi-family | 959,152 | 28,778 | 14,573 | 336 | 1,002,839 | ||||||||||||||
Office | 787,401 | 34,957 | 33,098 | 387 | 855,843 | ||||||||||||||
Industrial and warehouse | 469,083 | 4,500 | 18,703 | — | 492,286 | ||||||||||||||
Purchased credit-impaired | 3,157 | 228 | 12,151 | 1,537 | 17,073 | ||||||||||||||
Other commercial real estate | 1,316,273 | 4,584 | 30,343 | 818 | 1,352,018 | ||||||||||||||
Total commercial real estate | 5,117,875 | 81,344 | 119,771 | 3,078 | 5,322,068 | ||||||||||||||
Credit Risk Profile by FICO Score (1) | |||||||||||||||||||
750+ | 650-749 | <650 | Other (2) | Total | |||||||||||||||
Automobile | 5,205,064 | 3,779,606 | 1,116,762 | 279,212 | 10,380,644 | ||||||||||||||
Home equity: | |||||||||||||||||||
Secured by first-lien | 3,346,422 | 1,463,054 | 264,024 | 169,052 | 5,242,552 | ||||||||||||||
Secured by junior-lien | 1,818,244 | 982,067 | 289,865 | 114,338 | 3,204,514 | ||||||||||||||
Total home equity | 5,164,666 | 2,445,121 | 553,889 | 283,390 | 8,447,066 | ||||||||||||||
Residential mortgage: | |||||||||||||||||||
Residential mortgage | 3,886,423 | 1,848,386 | 522,665 | 118,439 | 6,375,913 | ||||||||||||||
Purchased credit-impaired | 320 | 331 | 453 | — | 1,104 | ||||||||||||||
Total residential mortgage | 3,886,743 | 1,848,717 | 523,118 | 118,439 | 6,377,017 | ||||||||||||||
Other consumer: | |||||||||||||||||||
Other consumer | 257,518 | 313,712 | 59,699 | 13,223 | 644,152 | ||||||||||||||
Purchased credit-impaired | — | — | — | — | — | ||||||||||||||
Total other consumer | $ | 257,518 | $ | 313,712 | $ | 59,699 | $ | 13,223 | $ | 644,152 |
December 31, 2015 | |||||||||||||||||||
Credit Risk Profile by UCS Classification | |||||||||||||||||||
(dollar amounts in thousands) | Pass | OLEM | Substandard | Doubtful | Total | ||||||||||||||
Commercial and industrial: | |||||||||||||||||||
Owner occupied | $ | 3,731,113 | $ | 114,490 | $ | 165,301 | $ | 1,896 | $ | 4,012,800 | |||||||||
Purchased credit-impaired | 3,051 | 674 | 15,661 | 1,631 | 21,017 | ||||||||||||||
Other commercial and industrial | 15,523,625 | 284,175 | 714,615 | 3,602 | 16,526,017 | ||||||||||||||
Total commercial and industrial | 19,257,789 | 399,339 | 895,577 | 7,129 | 20,559,834 | ||||||||||||||
Commercial real estate: | |||||||||||||||||||
Retail properties | 1,473,014 | 10,865 | 22,830 | — | 1,506,709 | ||||||||||||||
Multi-family | 1,029,138 | 28,862 | 19,898 | 320 | 1,078,218 | ||||||||||||||
Office | 822,824 | 35,350 | 36,011 | 440 | 894,625 | ||||||||||||||
Industrial and warehouse | 493,402 | 259 | 10,450 | 56 | 504,167 | ||||||||||||||
Purchased credit-impaired | 7,194 | 397 | 6,167 | — | 13,758 | ||||||||||||||
Other commercial real estate | 1,240,482 | 4,054 | 25,811 | 827 | 1,271,174 | ||||||||||||||
Total commercial real estate | 5,066,054 | 79,787 | 121,167 | 1,643 | 5,268,651 | ||||||||||||||
Credit Risk Profile by FICO Score (1) | |||||||||||||||||||
750+ | 650-749 | <650 | Other (2) | Total | |||||||||||||||
Automobile | 4,680,684 | 3,454,585 | 1,086,914 | 258,495 | 9,480,678 | ||||||||||||||
Home equity: | |||||||||||||||||||
Secured by first-lien | 3,369,657 | 1,441,574 | 258,328 | 121,926 | 5,191,485 | ||||||||||||||
Secured by junior-lien | 1,841,084 | 1,024,851 | 323,998 | 89,064 | 3,278,997 | ||||||||||||||
Total home equity | 5,210,741 | 2,466,425 | 582,326 | 210,990 | 8,470,482 | ||||||||||||||
Residential mortgage | |||||||||||||||||||
Residential mortgage | 3,563,683 | 1,813,002 | 567,688 | 52,573 | 5,996,946 | ||||||||||||||
Purchased credit-impaired | 381 | 777 | 296 | — | 1,454 | ||||||||||||||
Total residential mortgage | 3,564,064 | 1,813,779 | 567,984 | 52,573 | 5,998,400 | ||||||||||||||
Other consumer | |||||||||||||||||||
Other consumer | 233,969 | 269,694 | 49,650 | 9,689 | 563,002 | ||||||||||||||
Purchased credit-impaired | — | 52 | — | — | 52 | ||||||||||||||
Total other consumer | $ | 233,969 | $ | 269,746 | $ | 49,650 | $ | 9,689 | $ | 563,054 |
(1) | Reflects most recent customer credit scores. |
(2) | Reflects deferred fees and costs, loans in process, loans to legal entities, etc. |
(dollar amounts in thousands) | Commercial and Industrial | Commercial Real Estate | Automobile | Home Equity | Residential Mortgage | Other Consumer | Total | ||||||||||||||||||||
ALLL at June 30, 2016: | |||||||||||||||||||||||||||
Portion of ALLL balance: | |||||||||||||||||||||||||||
Attributable to purchased credit-impaired loans | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Attributable to loans individually evaluated for impairment | 30,636 | 4,894 | 1,795 | 12,962 | 16,513 | 309 | 67,109 | ||||||||||||||||||||
Attributable to loans collectively evaluated for impairment | 292,829 | 96,148 | 48,736 | 63,520 | 25,879 | 28,843 | 555,955 | ||||||||||||||||||||
Total ALLL balance | $ | 323,465 | $ | 101,042 | $ | 50,531 | $ | 76,482 | $ | 42,392 | $ | 29,152 | $ | 623,064 | |||||||||||||
Loan and Lease Ending Balances at June 30, 2016: | |||||||||||||||||||||||||||
Portion of loan and lease ending balance: | |||||||||||||||||||||||||||
Attributable to purchased credit-impaired loans | $ | 9,176 | $ | 17,073 | $ | — | $ | — | $ | 1,104 | $ | — | $ | 27,353 | |||||||||||||
Individually evaluated for impairment | 579,003 | 108,187 | 30,800 | 244,917 | 347,412 | 4,664 | 1,314,983 | ||||||||||||||||||||
Collectively evaluated for impairment | 20,784,295 | 5,196,808 | 10,349,844 | 8,202,149 | 6,028,501 | 639,488 | 51,201,085 | ||||||||||||||||||||
Total loans and leases evaluated for impairment | $ | 21,372,474 | $ | 5,322,068 | $ | 10,380,644 | $ | 8,447,066 | $ | 6,377,017 | $ | 644,152 | $ | 52,543,421 |
(dollar amounts in thousands) | Commercial and Industrial | Commercial Real Estate | Automobile | Home Equity | Residential Mortgage | Other Consumer | Total | ||||||||||||||||||||
ALLL at December 31, 2015 | |||||||||||||||||||||||||||
Portion of ALLL balance: | |||||||||||||||||||||||||||
Attributable to purchased credit-impaired loans | $ | 2,602 | $ | — | $ | — | $ | — | $ | 127 | $ | — | $ | 2,729 | |||||||||||||
Attributable to loans individually evaluated for impairment | 19,314 | 8,114 | 1,779 | 16,242 | 16,811 | 176 | 62,436 | ||||||||||||||||||||
Attributable to loans collectively evaluated for impairment | 276,830 | 91,893 | 47,725 | 67,429 | 24,708 | 24,093 | 532,678 | ||||||||||||||||||||
Total ALLL balance: | $ | 298,746 | $ | 100,007 | $ | 49,504 | $ | 83,671 | $ | 41,646 | $ | 24,269 | $ | 597,843 | |||||||||||||
Loan and Lease Ending Balances at December 31, 2015 | |||||||||||||||||||||||||||
Portion of loan and lease ending balances: | |||||||||||||||||||||||||||
Attributable to purchased credit-impaired loans | $ | 21,017 | $ | 13,758 | $ | — | $ | — | $ | 1,454 | $ | 52 | $ | 36,281 | |||||||||||||
Individually evaluated for impairment | 481,033 | 144,977 | 31,304 | 248,839 | 366,995 | 4,640 | 1,277,788 | ||||||||||||||||||||
Collectively evaluated for impairment | 20,057,784 | 5,109,916 | 9,449,374 | 8,221,643 | 5,629,951 | 558,362 | 49,027,030 | ||||||||||||||||||||
Total loans and leases evaluated for impairment | $ | 20,559,834 | $ | 5,268,651 | $ | 9,480,678 | $ | 8,470,482 | $ | 5,998,400 | $ | 563,054 | $ | 50,341,099 |
June 30, 2016 | Three Months Ended June 30, 2016 | Six months ended June 30, 2016 | |||||||||||||||||||||||||
(dollar amounts in thousands) | Ending Balance | Unpaid Principal Balance (5) | Related Allowance | Average Balance | Interest Income Recognized | Average Balance | Interest Income Recognized | ||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||
Commercial and industrial: | |||||||||||||||||||||||||||
Owner occupied | $ | 55,637 | $ | 60,883 | $ | — | $ | 45,108 | $ | 260 | $ | 47,856 | $ | 551 | |||||||||||||
Purchased credit-impaired | 9,176 | 22,219 | — | 11,888 | 1,003 | 14,931 | 2,000 | ||||||||||||||||||||
Other commercial and industrial | 223,863 | 232,421 | — | 232,142 | 1,129 | 221,341 | 2,072 | ||||||||||||||||||||
Total commercial and industrial | 288,676 | 315,523 | — | 289,138 | 2,392 | 284,128 | 4,623 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||
Retail properties | 12,776 | 13,252 | — | 14,461 | 197 | 25,567 | 682 | ||||||||||||||||||||
Multi-family | 20,574 | 20,574 | — | 20,408 | 172 | 13,591 | 229 | ||||||||||||||||||||
Office | 16,248 | 30,258 | — | 16,268 | 142 | 13,469 | 284 | ||||||||||||||||||||
Industrial and warehouse | 227 | 227 | — | 76 | 1 | 609 | 19 | ||||||||||||||||||||
Purchased credit-impaired | 17,073 | 49,728 | — | 14,883 | 1,255 | 14,508 | 2,122 | ||||||||||||||||||||
Other commercial real estate | 6,470 | 6,636 | — | 6,473 | 88 | 4,896 | 136 | ||||||||||||||||||||
Total commercial real estate | 73,368 | 120,675 | — | 72,569 | 1,855 | 72,640 | 3,472 | ||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||
Residential mortgage | — | — | — | — | — | — | — | ||||||||||||||||||||
Purchased credit-impaired | 1,104 | 1,672 | — | 1,298 | 109 | 1,350 | 111 | ||||||||||||||||||||
Total residential mortgage | 1,104 | 1,672 | — | 1,298 | 109 | 1,350 | 111 | ||||||||||||||||||||
Other consumer | |||||||||||||||||||||||||||
Other consumer | — | — | — | — | — | — | — | ||||||||||||||||||||
Purchased credit-impaired | — | — | — | 19 | 2 | 30 | 104 | ||||||||||||||||||||
Total other consumer | — | — | — | 19 | 2 | 30 | 104 | ||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||
Commercial and industrial: (3) | |||||||||||||||||||||||||||
Owner occupied | 55,831 | 66,013 | 3,481 | 60,741 | 579 | 59,120 | 1,164 | ||||||||||||||||||||
Purchased credit-impaired | — | — | — | — | — | — | — | ||||||||||||||||||||
Other commercial and industrial | 243,672 | 262,710 | 27,155 | 231,020 | 1,160 | 210,398 | 2,665 | ||||||||||||||||||||
Total commercial and industrial | 299,503 | 328,723 | 30,636 | 291,761 | 1,739 | 269,518 | 3,829 | ||||||||||||||||||||
Commercial real estate: (4) | |||||||||||||||||||||||||||
Retail properties | 6,217 | 7,334 | 284 | 6,073 | 89 | 7,371 | 174 | ||||||||||||||||||||
Multi-family | 15,212 | 17,773 | 1,205 | 15,738 | 185 | 22,091 | 481 | ||||||||||||||||||||
Office | 5,636 | 9,066 | 586 | 9,727 | 55 | 10,724 | 106 | ||||||||||||||||||||
Industrial and warehouse | 2,793 | 3,338 | 276 | 2,985 | 19 | 5,242 | 39 | ||||||||||||||||||||
Purchased credit-impaired | — | — | — | — | — | — | — | ||||||||||||||||||||
Other commercial real estate | 22,034 | 23,915 | 2,543 | 23,834 | 267 | 24,073 | 573 | ||||||||||||||||||||
Total commercial real estate | 51,892 | 61,426 | 4,894 | 58,357 | 615 | 69,501 | 1,373 | ||||||||||||||||||||
Automobile | 30,800 | 31,247 | 1,795 | 32,032 | 524 | 31,789 | 1,102 | ||||||||||||||||||||
Home equity: | |||||||||||||||||||||||||||
Secured by first-lien | 55,766 | 59,675 | 4,151 | 55,798 | 518 | 54,756 | 1,018 |
Secured by junior-lien | 189,151 | 219,008 | 8,811 | 192,258 | 2,444 | 193,561 | 4,912 | ||||||||||||||||||||
Total home equity | 244,917 | 278,683 | 12,962 | 248,056 | 2,962 | 248,317 | 5,930 | ||||||||||||||||||||
Residential mortgage (6): | |||||||||||||||||||||||||||
Residential mortgage | 347,412 | 386,170 | 16,513 | 352,489 | 3,027 | 357,324 | 6,064 | ||||||||||||||||||||
Purchased credit-impaired | — | — | — | — | — | — | — | ||||||||||||||||||||
Total residential mortgage | 347,412 | 386,170 | 16,513 | 352,489 | 3,027 | 357,324 | 6,064 | ||||||||||||||||||||
Other consumer: | |||||||||||||||||||||||||||
Other consumer | 4,664 | 4,665 | 309 | 4,812 | 53 | 4,754 | 120 | ||||||||||||||||||||
Purchased credit-impaired | — | — | — | — | — | — | — | ||||||||||||||||||||
Total other consumer | $ | 4,664 | $ | 4,665 | $ | 309 | $ | 4,812 | $ | 53 | $ | 4,754 | $ | 120 |
December 31, 2015 | Three Months Ended June 30, 2015 | Six months ended June 30, 2015 | |||||||||||||||||||||||||
(dollar amounts in thousands) | Ending Balance | Unpaid Principal Balance (5) | Related Allowance | Average Balance | Interest Income Recognized | Average Balance | Interest Income Recognized | ||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||
Commercial and industrial: | |||||||||||||||||||||||||||
Owner occupied | $ | 57,832 | $ | 65,812 | $ | — | $ | 21,025 | $ | 72 | $ | 16,645 | $ | 147 | |||||||||||||
Purchased credit-impaired | — | — | — | — | — | — | — | ||||||||||||||||||||
Other commercial and industrial | 197,969 | 213,739 | — | 71,905 | 498 | 56,728 | 836 | ||||||||||||||||||||
Total commercial and industrial | 255,801 | 279,551 | — | 92,930 | 570 | 73,373 | 983 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||
Retail properties | 42,009 | 54,021 | — | 50,905 | 463 | 54,231 | 959 | ||||||||||||||||||||
Multi-family | — | — | — | — | — | — | — | ||||||||||||||||||||
Office | 9,030 | 12,919 | — | 11,515 | 86 | 6,597 | 117 | ||||||||||||||||||||
Industrial and warehouse | 1,720 | 1,741 | — | — | — | 263 | 7 | ||||||||||||||||||||
Purchased credit-impaired | 13,758 | 55,358 | — | 31,468 | 2,163 | 33,769 | 3,941 | ||||||||||||||||||||
Other commercial real estate | 1,743 | 1,775 | — | 1,838 | 16 | 3,096 | 62 | ||||||||||||||||||||
Total commercial real estate | 68,260 | 125,814 | — | 95,726 | 2,728 | 97,956 | 5,086 | ||||||||||||||||||||
Other consumer | — | — | — | — | — | — | — | ||||||||||||||||||||
Purchased credit-impaired | 52 | 101 | — | — | — | — | — | ||||||||||||||||||||
Total other consumer | 52 | 101 | — | — | — | — | — | ||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||
Commercial and industrial: (3) | |||||||||||||||||||||||||||
Owner occupied | 54,092 | 62,527 | 4,171 | 59,605 | 495 | 55,448 | 934 | ||||||||||||||||||||
Purchased credit-impaired | 21,017 | 30,676 | 2,602 | 20,750 | 1,577 | 21,576 | 2,874 | ||||||||||||||||||||
Other commercial and industrial | 171,140 | 181,000 | 15,143 | 183,095 | 1,339 | 61,833 | 1,086 | ||||||||||||||||||||
Total commercial and industrial | 246,249 | 274,203 | 21,916 | 263,450 | 3,411 | 138,857 | 4,894 | ||||||||||||||||||||
Commercial real estate: (4) | |||||||||||||||||||||||||||
Retail properties | 9,096 | 11,121 | 1,190 | 44,213 | 418 | 42,312 | 780 | ||||||||||||||||||||
Multi-family | 34,349 | 37,208 | 1,593 | 16,200 | 184 | 15,884 | 354 | ||||||||||||||||||||
Office | 14,365 | 17,350 | 1,177 | 40,710 | 450 | 45,644 | 1,013 | ||||||||||||||||||||
Industrial and warehouse | 9,721 | 10,550 | 1,540 | 5,835 | 81 | 7,079 | 163 | ||||||||||||||||||||
Purchased credit-impaired | — | — | — | — | — | — | — | ||||||||||||||||||||
Other commercial real estate | 22,944 | 28,701 | 2,614 | 29,405 | 335 | 29,254 | 689 | ||||||||||||||||||||
Total commercial real estate | 90,475 | 104,930 | 8,114 | 136,363 | 1,468 | 140,173 | 2,999 |
Automobile | 31,304 | 31,878 | 1,779 | 29,482 | 544 | 29,859 | 1,105 | ||||||||||||||||||||
Home equity: | |||||||||||||||||||||||||||
Secured by first-lien | 52,672 | 57,224 | 4,359 | 148,892 | 1,715 | 147,783 | 3,299 | ||||||||||||||||||||
Secured by junior-lien | 196,167 | 227,733 | 11,883 | 181,059 | 2,231 | 175,666 | 4,216 | ||||||||||||||||||||
Total home equity | 248,839 | 284,957 | 16,242 | 329,951 | 3,946 | 323,449 | 7,515 | ||||||||||||||||||||
Residential mortgage (6): | |||||||||||||||||||||||||||
Residential mortgage | 366,995 | 408,925 | 16,811 | 369,245 | 2,978 | 369,356 | 6,100 | ||||||||||||||||||||
Purchased credit-impaired | 1,454 | 2,189 | 127 | 2,104 | 4 | 2,040 | 7 | ||||||||||||||||||||
Total residential mortgage | 368,449 | 411,114 | 16,938 | 371,349 | 2,982 | 371,396 | 6,107 | ||||||||||||||||||||
Other consumer: | |||||||||||||||||||||||||||
Other consumer | 4,640 | 4,649 | 176 | 4,963 | 65 | 4,671 | 128 | ||||||||||||||||||||
Purchased credit-impaired | — | — | — | 51 | 160 | 51 | 291 | ||||||||||||||||||||
Total other consumer | $ | 4,640 | $ | 4,649 | $ | 176 | $ | 5,014 | $ | 225 | $ | 4,722 | $ | 419 |
(1) | These tables do not include loans fully charged-off. |
(2) | All automobile, home equity, residential mortgage, and other consumer impaired loans included in these tables are considered impaired due to their status as a TDR. |
(3) | At June 30, 2016, $99 million of the $300 million commercial and industrial loans with an allowance recorded were considered impaired due to their status as a TDR. At December 31, 2015, $91 million of the $246 million commercial and industrial loans with an allowance recorded were considered impaired due to their status as a TDR. |
(4) | At June 30, 2016, $29 million of the $52 million commercial real estate loans with an allowance recorded were considered impaired due to their status as a TDR. At December 31, 2015, $35 million of the $90 million commercial real estate loans with an allowance recorded were considered impaired due to their status as a TDR. |
(5) | The differences between the ending balance and unpaid principal balance amounts represent partial charge-offs. |
(6) | At June 30, 2016, $29 million of the $347 million residential mortgages loans with an allowance recorded were guaranteed by the U.S. government. At December 31, 2015, $29 million of the $368 million residential mortgage loans with an allowance recorded were guaranteed by the U.S. government. |
• | Interest rate reduction: A reduction of the stated interest rate to a nonmarket rate for the remaining original life of the debt. |
• | Amortization or maturity date change beyond what the collateral supports, including any of the following: |
(1) | Lengthens the amortization period of the amortized principal beyond market terms. This concession reduces the minimum monthly payment and could increase the amount of the balloon payment at the end of the term of the loan. Principal is generally not forgiven. |
(2) | Reduces the amount of loan principal to be amortized and increases the amount of the balloon payment at the end of the term of the loan. This concession also reduces the minimum monthly payment. Principal is generally not forgiven. |
(3) | Extends the maturity date or dates of the debt beyond what the collateral supports. This concession generally applies to loans without a balloon payment at the end of the term of the loan. |
• | Chapter 7 bankruptcy: A bankruptcy court’s discharge of a borrower’s debt is considered a concession when the borrower does not reaffirm the discharged debt. |
• | Other: A concession that is not categorized as one of the concessions described above. These concessions include, but are not limited to: principal forgiveness, collateral concessions, covenant concessions, and reduction of accrued interest. |
New Troubled Debt Restructurings During The Three-Month Period Ended (1) | |||||||||||||||||||||
June 30, 2016 | June 30, 2015 | ||||||||||||||||||||
(dollar amounts in thousands) | Number of Contracts | Post-modification Outstanding Ending Balance | Financial effects of modification (2) | Number of Contracts | Post-modification Outstanding Ending Balance | Financial effects of modification (2) | |||||||||||||||
C&I—Owner occupied: | |||||||||||||||||||||
Interest rate reduction | 1 | $ | 22 | $ | — | 2 | $ | 189 | $ | (1 | ) | ||||||||||
Amortization or maturity date change | 47 | 9,047 | (17 | ) | 55 | 36,506 | (1,928 | ) | |||||||||||||
Other | 1 | 228 | — | — | — | — | |||||||||||||||
Total C&I—Owner occupied | 49 | 9,297 | (17 | ) | 57 | 36,695 | (1,929 | ) | |||||||||||||
C&I—Other commercial and industrial: | |||||||||||||||||||||
Interest rate reduction | — | — | — | 4 | 405 | 10 | |||||||||||||||
Amortization or maturity date change | 152 | 124,886 | (3,473 | ) | 153 | 155,849 | (8,415 | ) | |||||||||||||
Other | 1 | 4 | — | 1 | 124 | — | |||||||||||||||
Total C&I—Other commercial and industrial | 153 | 124,890 | (3,473 | ) | 158 | 156,378 | (8,405 | ) | |||||||||||||
CRE—Retail properties: | |||||||||||||||||||||
Interest rate reduction | — | — | — | — | — | — | |||||||||||||||
Amortization or maturity date change | 4 | 1,910 | (1 | ) | 1 | 6,396 | (1,334 | ) |
Other | — | — | — | — | — | — | |||||||||||||||
Total CRE—Retail properties | 4 | 1,910 | (1 | ) | 1 | 6,396 | (1,334 | ) | |||||||||||||
CRE—Multi family: | |||||||||||||||||||||
Interest rate reduction | 1 | 84 | — | 1 | 90 | — | |||||||||||||||
Amortization or maturity date change | 13 | 2,562 | (47 | ) | 11 | 5,191 | (28 | ) | |||||||||||||
Other | 1 | 7 | — | 8 | 216 | (6 | ) | ||||||||||||||
Total CRE—Multi family | 15 | 2,653 | (47 | ) | 20 | 5,497 | (34 | ) | |||||||||||||
CRE—Office: | |||||||||||||||||||||
Interest rate reduction | — | — | — | — | — | — | |||||||||||||||
Amortization or maturity date change | 3 | 555 | (1 | ) | 7 | 4,988 | 103 | ||||||||||||||
Other | 1 | 45 | — | 1 | 30 | (2 | ) | ||||||||||||||
Total CRE—Office | 4 | 600 | (1 | ) | 8 | 5,018 | 101 | ||||||||||||||
CRE—Industrial and warehouse: | |||||||||||||||||||||
Interest rate reduction | — | — | — | — | — | — | |||||||||||||||
Amortization or maturity date change | 1 | 316 | 55 | 4 | 2,160 | 91 | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Total CRE—Industrial and Warehouse | 1 | 316 | 55 | 4 | 2,160 | 91 | |||||||||||||||
CRE—Other commercial real estate: | |||||||||||||||||||||
Interest rate reduction | — | — | — | — | — | — | |||||||||||||||
Amortization or maturity date change | 15 | 10,674 | (729 | ) | 10 | 4,072 | 16 | ||||||||||||||
Other | — | — | — | 1 | 82 | (22 | ) | ||||||||||||||
Total CRE—Other commercial real estate | 15 | 10,674 | (729 | ) | 11 | 4,154 | (6 | ) | |||||||||||||
Automobile: | |||||||||||||||||||||
Interest rate reduction | 3 | 64 | 5 | 12 | 23 | 1 | |||||||||||||||
Amortization or maturity date change | 286 | 2,663 | 202 | 316 | 2,132 | 96 | |||||||||||||||
Chapter 7 bankruptcy | 244 | 1,982 | 114 | 146 | 1,138 | 61 | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Total Automobile | 533 | 4,709 | 321 | 474 | 3,293 | 158 | |||||||||||||||
Residential mortgage: | |||||||||||||||||||||
Interest rate reduction | 5 | 404 | 17 | 4 | 261 | (52 | ) | ||||||||||||||
Amortization or maturity date change | 108 | 10,641 | (420 | ) | 70 | 9,416 | (74 | ) | |||||||||||||
Chapter 7 bankruptcy | 6 | 1,178 | (49 | ) | 35 | 2,884 | (7 | ) | |||||||||||||
Other | 1 | 164 | — | — | — | — | |||||||||||||||
Total Residential mortgage | 120 | 12,387 | (452 | ) | 109 | 12,561 | (133 | ) | |||||||||||||
First-lien home equity: | |||||||||||||||||||||
Interest rate reduction | 5 | 530 | 13 | 11 | 1,160 | 42 | |||||||||||||||
Amortization or maturity date change | 15 | 1,219 | (36 | ) | 65 | 6,432 | (325 | ) | |||||||||||||
Chapter 7 bankruptcy | 19 | 1,743 | 17 | 22 | 1,270 | 54 | |||||||||||||||
Other | — | — | — | — | — | — |
Total First-lien home equity | 39 | 3,492 | (6 | ) | 98 | 8,862 | (229 | ) | |||||||||||||
Junior-lien home equity: | |||||||||||||||||||||
Interest rate reduction | 4 | 97 | 13 | 4 | 98 | 6 | |||||||||||||||
Amortization or maturity date change | 112 | 5,182 | (700 | ) | 419 | 18,077 | (2,615 | ) | |||||||||||||
Chapter 7 bankruptcy | 27 | 371 | 250 | 57 | 650 | 1,358 | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Total Junior-lien home equity | 143 | 5,650 | (437 | ) | 480 | 18,825 | (1,251 | ) | |||||||||||||
Other consumer: | |||||||||||||||||||||
Interest rate reduction | — | — | — | — | — | — | |||||||||||||||
Amortization or maturity date change | 1 | 4 | — | 2 | 33 | 2 | |||||||||||||||
Chapter 7 bankruptcy | — | — | — | 3 | 39 | 8 | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Total Other consumer | 1 | 4 | — | 5 | 72 | 10 | |||||||||||||||
Total new troubled debt restructurings | 1,077 | $ | 176,582 | $ | (4,787 | ) | 1,425 | $ | 259,911 | $ | (12,961 | ) |
(1) | TDRs may include multiple concessions and the disclosure classifications are based on the primary concession provided to the borrower. |
(2) | Amounts represent the financial impact via provision for loan and lease losses as a result of the modification. |
New Troubled Debt Restructurings During The Six-Month Period Ended (1) | |||||||||||||||||||||
June 30, 2016 | June 30, 2015 | ||||||||||||||||||||
(dollar amounts in thousands) | Number of Contracts | Post-modification Outstanding Ending Balance | Financial effects of modification (2) | Number of Contracts | Post-modification Outstanding Ending Balance | Financial effects of modification (2) | |||||||||||||||
C&I—Owner occupied: | |||||||||||||||||||||
Interest rate reduction | 2 | $ | 39 | $ | (1 | ) | 3 | $ | 235 | $ | (2 | ) | |||||||||
Amortization or maturity date change | 99 | 45,556 | 463 | 101 | 46,966 | (2,102 | ) | ||||||||||||||
Other | 3 | 451 | (17 | ) | 3 | 613 | (29 | ) | |||||||||||||
Total C&I—Owner occupied | 104 | 46,046 | 445 | 107 | 47,814 | (2,133 | ) | ||||||||||||||
C&I—Other commercial and industrial: | |||||||||||||||||||||
Interest rate reduction | — | — | — | 5 | 435 | 9 | |||||||||||||||
Amortization or maturity date change | 284 | 211,035 | (3,381 | ) | 270 | 236,226 | (7,601 | ) | |||||||||||||
Other | 7 | 639 | 13 | 6 | 28,512 | (430 | ) | ||||||||||||||
Total C&I—Other commercial and industrial | 291 | 211,674 | (3,368 | ) | 281 | 265,173 | (8,022 | ) | |||||||||||||
CRE—Retail properties: | |||||||||||||||||||||
Interest rate reduction | — | — | — | 1 | 1,657 | (11 | ) | ||||||||||||||
Amortization or maturity date change | 8 | 2,433 | (39 | ) | 12 | 10,973 | (1,533 | ) | |||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Total CRE—Retail properties | 8 | 2,433 | (39 | ) | 13 | 12,630 | (1,544 | ) | |||||||||||||
CRE—Multi family: | |||||||||||||||||||||
Interest rate reduction | 1 | 84 | — | 1 | 90 | — | |||||||||||||||
Amortization or maturity date change | 22 | 25,071 | (152 | ) | 30 | 10,236 | (29 | ) |
Other | 1 | 7 | — | 8 | 216 | (6 | ) | ||||||||||||||
Total CRE—Multi family | 24 | 25,162 | (152 | ) | 39 | 10,542 | (35 | ) | |||||||||||||
CRE—Office: | |||||||||||||||||||||
Interest rate reduction | — | — | — | — | — | — | |||||||||||||||
Amortization or maturity date change | 9 | 8,916 | 430 | 12 | 31,073 | 72 | |||||||||||||||
Other | 2 | 184 | (19 | ) | 1 | 30 | (2 | ) | |||||||||||||
Total CRE—Office | 11 | 9,100 | 411 | 13 | 31,103 | 70 | |||||||||||||||
CRE—Industrial and warehouse: | |||||||||||||||||||||
Interest rate reduction | — | — | — | — | — | — | |||||||||||||||
Amortization or maturity date change | 3 | 688 | (824 | ) | 5 | 2,386 | 91 | ||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Total CRE—Industrial and Warehouse | 3 | 688 | (824 | ) | 5 | 2,386 | 91 | ||||||||||||||
CRE—Other commercial real estate: | |||||||||||||||||||||
Interest rate reduction | — | — | — | — | — | — | |||||||||||||||
Amortization or maturity date change | 18 | 12,704 | (697 | ) | 17 | 7,731 | 27 | ||||||||||||||
Other | 1 | 124 | 35 | 2 | 234 | (22 | ) | ||||||||||||||
Total CRE—Other commercial real estate | 19 | 12,828 | (662 | ) | 19 | 7,965 | 5 | ||||||||||||||
Automobile: | |||||||||||||||||||||
Interest rate reduction | 7 | 106 | 7 | 25 | 42 | 2 | |||||||||||||||
Amortization or maturity date change | 707 | 6,564 | 422 | 812 | 5,484 | 254 | |||||||||||||||
Chapter 7 bankruptcy | 561 | 4,544 | 229 | 290 | 2,361 | 161 | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Total Automobile | 1,275 | 11,214 | 658 | 1,127 | 7,887 | 417 | |||||||||||||||
Residential mortgage: | |||||||||||||||||||||
Interest rate reduction | 10 | 1,061 | (15 | ) | 9 | 737 | (56 | ) | |||||||||||||
Amortization or maturity date change | 200 | 21,400 | (997 | ) | 193 | 23,274 | (195 | ) | |||||||||||||
Chapter 7 bankruptcy | 23 | 2,683 | 21 | 69 | 7,060 | (131 | ) | ||||||||||||||
Other | 1 | 164 | — | 6 | 708 | — | |||||||||||||||
Total Residential mortgage | 234 | 25,308 | (991 | ) | 277 | 31,779 | (382 | ) | |||||||||||||
First-lien home equity: | |||||||||||||||||||||
Interest rate reduction | 17 | 1,501 | 46 | 21 | 2,579 | 68 | |||||||||||||||
Amortization or maturity date change | 40 | 3,269 | (64 | ) | 114 | 10,043 | (628 | ) | |||||||||||||
Chapter 7 bankruptcy | 58 | 4,609 | 139 | 48 | 2,855 | 134 | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Total First-lien home equity | 115 | 9,379 | 121 | 183 | 15,477 | (426 | ) | ||||||||||||||
Junior-lien home equity: | |||||||||||||||||||||
Interest rate reduction | 12 | 510 | 47 | 8 | 349 | 21 | |||||||||||||||
Amortization or maturity date change | 316 | 15,022 | (1,954 | ) | 766 | 34,584 | (551 | ) | |||||||||||||
Chapter 7 bankruptcy | 87 | 1,102 | 861 | 108 | 1,425 | 2,245 |
Other | — | — | — | — | — | — | |||||||||||||||
Total Junior-lien home equity | 415 | 16,634 | (1,046 | ) | 882 | 36,358 | 1,715 | ||||||||||||||
Other consumer: | |||||||||||||||||||||
Interest rate reduction | — | — | — | — | — | — | |||||||||||||||
Amortization or maturity date change | 5 | 559 | 24 | 6 | 128 | 6 | |||||||||||||||
Chapter 7 bankruptcy | 7 | 66 | 7 | 5 | 45 | 9 | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Total Other consumer | 12 | 625 | 31 | 11 | 173 | 15 | |||||||||||||||
Total new troubled debt restructurings | 2,511 | $ | 371,091 | $ | (5,416 | ) | 2,957 | $ | 469,287 | $ | (10,229 | ) |
(1) | TDRs may include multiple concessions and the disclosure classifications are based on the primary concession provided to the borrower. |
(2) | Amount represents the financial impact via provision for loan and lease losses as a result of the modification. |
June 30, 2016 | December 31, 2015 | ||||||||||||||
(dollar amounts in thousands) | Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||
U.S. Treasury, Federal agency, and other agency securities: | |||||||||||||||
U.S. Treasury: | |||||||||||||||
1 year or less | $ | 1,798 | $ | 1,799 | $ | — | $ | — | |||||||
After 1 year through 5 years | 5,468 | 5,521 | 5,457 | 5,472 | |||||||||||
After 5 years through 10 years | — | — | — | — | |||||||||||
After 10 years | — | — | — | — | |||||||||||
Total U.S. Treasury | 7,266 | 7,320 | 5,457 | 5,472 | |||||||||||
Federal agencies: mortgage-backed securities: | |||||||||||||||
1 year or less | 51,000 | 50,982 | 51,146 | 51,050 | |||||||||||
After 1 year through 5 years | 96,565 | 98,664 | 111,655 | 113,393 | |||||||||||
After 5 years through 10 years | 239,445 | 246,718 | 254,397 | 257,765 | |||||||||||
After 10 years | 4,734,778 | 4,821,428 | 4,088,120 | 4,099,480 | |||||||||||
Total Federal agencies: mortgage-backed securities | 5,121,788 | 5,217,792 | 4,505,318 | 4,521,688 | |||||||||||
Other agencies: | |||||||||||||||
1 year or less | 1,650 | 1,688 | 801 | 805 | |||||||||||
After 1 year through 5 years | 7,494 | 7,883 | 9,101 | 9,395 | |||||||||||
After 5 years through 10 years | 73,899 | 76,422 | 105,174 | 105,713 | |||||||||||
After 10 years | — | — | — | — | |||||||||||
Total other agencies | 83,043 | 85,993 | 115,076 | 115,913 |
Total U.S. Treasury, Federal agency, and other agency securities | 5,212,097 | 5,311,105 | 4,625,851 | 4,643,073 | |||||||||||
Municipal securities: | |||||||||||||||
1 year or less | 316,563 | 306,297 | 281,644 | 280,823 | |||||||||||
After 1 year through 5 years | 699,471 | 707,937 | 587,664 | 587,345 | |||||||||||
After 5 years through 10 years | 1,029,450 | 1,049,301 | 1,053,502 | 1,048,550 | |||||||||||
After 10 years | 488,761 | 518,092 | 509,133 | 539,678 | |||||||||||
Total municipal securities | 2,534,245 | 2,581,627 | 2,431,943 | 2,456,396 | |||||||||||
Asset-backed securities: | |||||||||||||||
1 year or less | — | — | — | — | |||||||||||
After 1 year through 5 years | 174,999 | 176,453 | 110,115 | 109,300 | |||||||||||
After 5 years through 10 years | 88,174 | 90,210 | 128,342 | 128,208 | |||||||||||
After 10 years | 656,860 | 623,909 | 662,602 | 623,905 | |||||||||||
Total asset-backed securities | 920,033 | 890,572 | 901,059 | 861,413 | |||||||||||
Corporate debt: | |||||||||||||||
1 year or less | 94,200 | 95,772 | 300 | 302 | |||||||||||
After 1 year through 5 years | 346,755 | 355,944 | 356,513 | 360,653 | |||||||||||
After 5 years through 10 years | 66,337 | 68,288 | 107,394 | 105,522 | |||||||||||
After 10 years | — | — | — | — | |||||||||||
Total corporate debt | 507,292 | 520,004 | 464,207 | 466,477 | |||||||||||
Other: | |||||||||||||||
1 year or less | — | — | — | — | |||||||||||
After 1 year through 5 years | 3,950 | 3,947 | 3,950 | 3,898 | |||||||||||
After 5 years through 10 years | — | — | — | — | |||||||||||
After 10 years | — | — | — | — | |||||||||||
Non-marketable equity securities | 333,751 | 333,751 | 332,786 | 332,786 | |||||||||||
Mutual funds | 11,069 | 11,069 | 10,604 | 10,604 | |||||||||||
Marketable equity securities | 523 | 963 | 523 | 794 | |||||||||||
Total other | 349,293 | 349,730 | 347,863 | 348,082 | |||||||||||
Total available-for-sale and other securities | $ | 9,522,960 | $ | 9,653,038 | $ | 8,770,923 | $ | 8,775,441 |
Unrealized | |||||||||||||||
(dollar amounts in thousands) | Amortized Cost | Gross Gains | Gross Losses | Fair Value | |||||||||||
June 30, 2016 | |||||||||||||||
U.S. Treasury | $ | 7,266 | $ | 54 | $ | — | $ | 7,320 | |||||||
Federal agencies: | |||||||||||||||
Mortgage-backed securities | 5,121,788 | 96,433 | (429 | ) | 5,217,792 | ||||||||||
Other agencies | 83,043 | 2,950 | — | 85,993 | |||||||||||
Total U.S. Treasury, Federal agency securities | 5,212,097 | 99,437 | (429 | ) | 5,311,105 | ||||||||||
Municipal securities | 2,534,245 | 75,326 | (27,944 | ) | 2,581,627 | ||||||||||
Asset-backed securities | 920,033 | 5,408 | (34,869 | ) | 890,572 | ||||||||||
Corporate debt | 507,292 | 12,720 | (8 | ) | 520,004 | ||||||||||
Other securities | 349,293 | 440 | (3 | ) | 349,730 | ||||||||||
Total available-for-sale and other securities | $ | 9,522,960 | $ | 193,331 | $ | (63,253 | ) | $ | 9,653,038 |
Unrealized | |||||||||||||||
(dollar amounts in thousands) | Amortized Cost | Gross Gains | Gross Losses | Fair Value | |||||||||||
December 31, 2015 | |||||||||||||||
U.S. Treasury | $ | 5,457 | $ | 15 | $ | — | $ | 5,472 | |||||||
Federal agencies: | |||||||||||||||
Mortgage-backed securities | 4,505,318 | 30,078 | (13,708 | ) | 4,521,688 | ||||||||||
Other agencies | 115,076 | 888 | (51 | ) | 115,913 | ||||||||||
Total U.S. Treasury, Federal agency securities | 4,625,851 | 30,981 | (13,759 | ) | 4,643,073 | ||||||||||
Municipal securities | 2,431,943 | 51,558 | (27,105 | ) | 2,456,396 | ||||||||||
Asset-backed securities | 901,059 | 535 | (40,181 | ) | 861,413 | ||||||||||
Corporate debt | 464,207 | 4,824 | (2,554 | ) | 466,477 | ||||||||||
Other securities | 347,863 | 271 | (52 | ) | 348,082 | ||||||||||
Total available-for-sale and other securities | $ | 8,770,923 | $ | 88,169 | $ | (83,651 | ) | $ | 8,775,441 |
Less than 12 Months | Over 12 Months | Total | |||||||||||||||||||||
(dollar amounts in thousands ) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||
June 30, 2016 | |||||||||||||||||||||||
Federal agencies: | |||||||||||||||||||||||
Mortgage-backed securities | $ | 104,627 | $ | (263 | ) | $ | 32,718 | $ | (166 | ) | $ | 137,345 | $ | (429 | ) | ||||||||
Other agencies | — | — | — | — | — | — | |||||||||||||||||
Total Federal agency securities | 104,627 | (263 | ) | 32,718 | (166 | ) | 137,345 | (429 | ) | ||||||||||||||
Municipal securities | 537,833 | (20,445 | ) | 187,853 | (7,499 | ) | 725,686 | (27,944 | ) | ||||||||||||||
Asset-backed securities | 244,056 | (2,707 | ) | 124,200 | (32,162 | ) | 368,256 | (34,869 | ) | ||||||||||||||
Corporate debt | — | — | 296 | (8 | ) | 296 | (8 | ) | |||||||||||||||
Other securities | 2,297 | (3 | ) | 2,297 | (3 | ) | |||||||||||||||||
Total temporarily impaired securities | $ | 886,516 | $ | (23,415 | ) | $ | 347,364 | $ | (39,838 | ) | $ | 1,233,880 | $ | (63,253 | ) |
Less than 12 Months | Over 12 Months | Total | |||||||||||||||||||||
(dollar amounts in thousands ) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||
December 31, 2015 | |||||||||||||||||||||||
Federal agencies: | |||||||||||||||||||||||
Mortgage-backed securities | $ | 1,658,516 | $ | (11,341 | ) | $ | 84,147 | $ | (2,367 | ) | $ | 1,742,663 | $ | (13,708 | ) | ||||||||
Other agencies | 37,982 | (51 | ) | — | — | 37,982 | (51 | ) | |||||||||||||||
Total Federal agency securities | 1,696,498 | (11,392 | ) | 84,147 | (2,367 | ) | 1,780,645 | (13,759 | ) | ||||||||||||||
Municipal securities | 570,916 | (15,992 | ) | 248,204 | (11,113 | ) | 819,120 | (27,105 | ) | ||||||||||||||
Asset-backed securities | 552,275 | (5,791 | ) | 207,639 | (34,390 | ) | 759,914 | (40,181 | ) | ||||||||||||||
Corporate debt | 167,144 | (1,673 | ) | 21,965 | (881 | ) | 189,109 | (2,554 | ) | ||||||||||||||
Other securities | 772 | (28 | ) | 1,476 | (24 | ) | 2,248 | (52 | ) | ||||||||||||||
Total temporarily impaired securities | $ | 2,987,605 | $ | (34,876 | ) | $ | 563,431 | $ | (48,775 | ) | $ | 3,551,036 | $ | (83,651 | ) |
Three Months Ended June 30, | Six months ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Gross gains on sales of securities | $ | 3,391 | $ | 82 | $ | 3,391 | $ | 82 | |||||||
Gross (losses) on sales of securities | (2,659 | ) | — | (2,659 | ) | ||||||||||
Net gain on sales of securities | $ | 732 | $ | 82 | $ | 732 | $ | 82 |
Deal Name | Par Value | Amortized Cost | Fair Value | Unrealized Loss (2) | Lowest Credit Rating (3) | # of Issuers Currently Performing/ Remaining (4) | Actual Deferrals and Defaults as a % of Original Collateral | Expected Defaults as a % of Remaining Performing Collateral | Excess Subordination (5) | ||||||||||||||||
ICONS | $ | 18,912 | $ | 18,912 | $ | 14,997 | $ | (3,915 | ) | BB | 19/21 | 7 | 14 | 52 | |||||||||||
MM Comm III | 4,633 | 4,426 | 3,524 | (902 | ) | BB | 5/8 | 5 | 6 | 35 | |||||||||||||||
Pre TSL IX | 5,000 | 3,955 | 2,995 | (960 | ) | C | 27/38 | 18 | 10 | 7 | |||||||||||||||
Pre TSL XI | 25,000 | 19,878 | 14,453 | (5,426 | ) | C | 43/55 | 16 | 8 | 12 | |||||||||||||||
Pre TSL XIII | 27,530 | 19,434 | 15,687 | (3,748 | ) | C | 46/56 | 10 | 11 | 26 | |||||||||||||||
Reg Diversified (1) | 25,500 | 4,754 | 1,800 | (2,953 | ) | D | 22/38 | 33 | 7 | — | |||||||||||||||
Tropic III | 31,000 | 31,000 | 17,924 | (13,076 | ) | BB | 30/40 | 19 | 7 | 39 | |||||||||||||||
Total at June 30, 2016 | $ | 137,575 | $ | 102,359 | $ | 71,380 | $ | (30,980 | ) | ||||||||||||||||
Total at December 31, 2015 | $ | 179,574 | $ | 131,911 | $ | 100,338 | $ | (31,654 | ) |
(1) | Security was determined to have OTTI. As such, the book value is net of recorded credit impairment. |
(2) | The majority of securities have been in a continuous loss position for 12 months or longer. |
(3) | For purposes of comparability, the lowest credit rating expressed is equivalent to Fitch ratings even where the lowest rating is based on another nationally recognized credit rating agency. |
(4) | Includes both banks and/or insurance companies. |
(5) | Excess subordination percentage represents the additional defaults in excess of both current and projected defaults that the CDO can absorb before the bond experiences credit impairment. Excess subordinated percentage is calculated by (a) determining what percentage of defaults a deal can experience before the bond has credit impairment, and (b) subtracting from this default breakage percentage both total current and expected future default percentages. |
Three Months Ended June 30, | Six months ended June 30, | |||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | ||||||||||||
Available-for-sale and other securities: | ||||||||||||||||
Municipal Securities | $ | 76 | $ | — | $ | 76 | $ | — | ||||||||
Total debt securities | 76 | — | 76 | — | ||||||||||||
Total available-for-sale and other securities | $ | 76 | $ | — | $ | 76 | $ | — |
Three Months Ended June 30, | Six months ended June 30, | |||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | ||||||||||||
Balance, beginning of period | $ | 18,368 | $ | 30,869 | $ | 18,368 | $ | 30,869 | ||||||||
Reductions from sales | (8,613 | ) | — | (8,613 | ) | — | ||||||||||
Additional credit losses | 76 | — | 76 | — | ||||||||||||
Balance, end of period | $ | 9,831 | $ | 30,869 | $ | 9,831 | $ | 30,869 |
June 30, 2016 | December 31, 2015 | ||||||||||||||
(dollar amounts in thousands) | Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||
Federal agencies: mortgage-backed securities: | |||||||||||||||
1 year or less | $ | — | $ | — | $ | — | $ | — | |||||||
After 1 year through 5 years | — | — | — | — | |||||||||||
After 5 years through 10 years | 43,441 | 44,543 | 25,909 | 25,227 | |||||||||||
After 10 years | 5,015,636 | 5,126,798 | 5,506,592 | 5,484,407 | |||||||||||
Total Federal agencies: mortgage-backed securities | 5,059,077 | 5,171,341 | 5,532,501 | 5,509,634 | |||||||||||
Other agencies: | |||||||||||||||
1 year or less | — | — | — | — | |||||||||||
After 1 year through 5 years | — | — | — | — | |||||||||||
After 5 years through 10 years | 309,750 | 317,300 | 283,960 | 284,907 | |||||||||||
After 10 years | 283,113 | 290,830 | 336,092 | 334,004 | |||||||||||
Total other agencies | 592,863 | 608,130 | 620,052 | 618,911 | |||||||||||
Total U.S. Government backed agencies | 5,651,940 | 5,779,471 | 6,152,553 | 6,128,545 | |||||||||||
Municipal securities: | |||||||||||||||
1 year or less | — | — | — | — | |||||||||||
After 1 year through 5 years | — | — | — | — | |||||||||||
After 5 years through 10 years | — | — | — | — | |||||||||||
After 10 years | 6,625 | 6,753 | 7,037 | 6,913 | |||||||||||
Total municipal securities | 6,625 | 6,753 | 7,037 | 6,913 | |||||||||||
Total held-to-maturity securities | $ | 5,658,565 | $ | 5,786,224 | $ | 6,159,590 | $ | 6,135,458 |
Unrealized | |||||||||||||||
(dollar amounts in thousands) | Amortized Cost | Gross Gains | Gross Losses | Fair Value | |||||||||||
June 30, 2016 | |||||||||||||||
Federal agencies: | |||||||||||||||
Mortgage-backed securities | $ | 5,059,077 | $ | 114,311 | $ | (2,047 | ) | $ | 5,171,341 | ||||||
Other agencies | 592,863 | 15,267 | — | 608,130 | |||||||||||
Total U.S. Government backed agencies | 5,651,940 | 129,578 | (2,047 | ) | 5,779,471 | ||||||||||
Municipal securities | 6,625 | 128 | — | 6,753 | |||||||||||
Total held-to-maturity securities | $ | 5,658,565 | $ | 129,706 | $ | (2,047 | ) | $ | 5,786,224 |
Unrealized | |||||||||||||||
(dollar amounts in thousands) | Amortized Cost | Gross Gains | Gross Losses | Fair Value | |||||||||||
December 31, 2015 | |||||||||||||||
Federal agencies: | |||||||||||||||
Mortgage-backed securities | $ | 5,532,501 | $ | 14,637 | $ | (37,504 | ) | $ | 5,509,634 | ||||||
Other agencies | 620,052 | 1,645 | (2,786 | ) | 618,911 | ||||||||||
Total U.S. Government backed agencies | 6,152,553 | 16,282 | (40,290 | ) | 6,128,545 | ||||||||||
Municipal securities | 7,037 | — | (124 | ) | 6,913 | ||||||||||
Total held-to-maturity securities | $ | 6,159,590 | $ | 16,282 | $ | (40,414 | ) | $ | 6,135,458 |
Less than 12 Months | Over 12 Months | Total | |||||||||||||||||||||
(dollar amounts in thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||
June 30, 2016 | |||||||||||||||||||||||
Federal agencies: | |||||||||||||||||||||||
Mortgage-backed securities | $ | 96,614 | $ | (560 | ) | $ | 162,973 | $ | (1,487 | ) | $ | 259,587 | $ | (2,047 | ) | ||||||||
Other agencies | — | — | — | — | — | — | |||||||||||||||||
Total U.S. Government backed securities | 96,614 | (560 | ) | 162,973 | (1,487 | ) | 259,587 | (2,047 | ) | ||||||||||||||
Municipal securities | — | — | — | — | — | — | |||||||||||||||||
Total temporarily impaired securities | $ | 96,614 | $ | (560 | ) | $ | 162,973 | $ | (1,487 | ) | $ | 259,587 | $ | (2,047 | ) |
Less than 12 Months | Over 12 Months | Total | |||||||||||||||||||||
(dollar amounts in thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||
December 31, 2015 | |||||||||||||||||||||||
Federal agencies: | |||||||||||||||||||||||
Mortgage-backed securities | $ | 3,692,890 | $ | (25,418 | ) | $ | 519,872 | $ | (12,086 | ) | $ | 4,212,762 | $ | (37,504 | ) | ||||||||
Other agencies | 425,410 | (2,689 | ) | 6,647 | (97 | ) | 432,057 | (2,786 | ) | ||||||||||||||
Total U.S. Government backed securities | 4,118,300 | (28,107 | ) | 526,519 | (12,183 | ) | 4,644,819 | (40,290 | ) | ||||||||||||||
Municipal securities | — | — | 6,913 | (124 | ) | 6,913 | (124 | ) | |||||||||||||||
Total temporarily impaired securities | $ | 4,118,300 | $ | (28,107 | ) | $ | 533,432 | $ | (12,307 | ) | $ | 4,651,732 | $ | (40,414 | ) |
Three Months Ended June 30, | Six months ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Residential mortgage loans sold with servicing retained | $ | 715,589 | $ | 938,412 | $ | 1,348,055 | $ | 1,569,096 | |||||||
Pretax gains resulting from above loan sales (1) | 18,618 | 27,471 | 32,731 | 42,334 |
(1) | Recorded in mortgage banking income. |
Fair Value Method: | Three Months Ended June 30, | Six months ended June 30, | |||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Fair value, beginning of period | $ | 14,819 | $ | 20,455 | $ | 17,585 | $ | 22,786 | |||||||
Change in fair value during the period due to: | |||||||||||||||
Time decay (1) | (245 | ) | (332 | ) | (518 | ) | (671 | ) | |||||||
Payoffs (2) | (465 | ) | (997 | ) | (969 | ) | (1,815 | ) | |||||||
Changes in valuation inputs or assumptions (3) | (1,004 | ) | 1,555 | (2,993 | ) | 381 | |||||||||
Fair value, end of period: | $ | 13,105 | $ | 20,681 | $ | 13,105 | $ | 20,681 | |||||||
Weighted-average life (years) | 5.1 | 5.1 | 5.1 | 5.1 |
(1) | Represents decrease in value due to passage of time, including the impact from both regularly scheduled loan principal payments and partial loan paydowns. |
(2) | Represents decrease in value associated with loans that paid off during the period. |
(3) | Represents change in value resulting primarily from market-driven changes in interest rates and prepayment speeds. |
Amortization Method: | Three Months Ended June 30, | Six months ended June 30, | |||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Carrying value, beginning of period | $ | 127,275 | $ | 125,454 | $ | 143,133 | $ | 132,813 | |||||||
New servicing assets created | 7,277 | 10,338 | 13,386 | 16,792 | |||||||||||
Servicing assets acquired | — | — | — | — | |||||||||||
Impairment (charge) / recovery | (7,295 | ) | 12,970 | (23,635 | ) | 4,980 | |||||||||
Amortization and other | (5,965 | ) | (5,635 | ) | (11,592 | ) | (11,458 | ) | |||||||
Carrying value, end of period | $ | 121,292 | $ | 143,127 | $ | 121,292 | $ | 143,127 | |||||||
Fair value, end of period | $ | 121,464 | $ | 143,434 | $ | 121,464 | $ | 143,434 | |||||||
Weighted-average life (years) | 6.1 | 6.5 | 6.1 | 6.5 |
June 30, 2016 | December 31, 2015 | ||||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||||
(dollar amounts in thousands) | Actual | 10% adverse change | 20% adverse change | Actual | 10% adverse change | 20% adverse change | |||||||||||||||
Constant prepayment rate (annualized) | 12.70 | % | $ | (569 | ) | $ | (1,098 | ) | 14.70 | % | $ | (864 | ) | $ | (1,653 | ) | |||||
Spread over forward interest rate swap rates | 551 bps | (414 | ) | (802 | ) | 539 bps | (559 | ) | (1,083 | ) |
June 30, 2016 | December 31, 2015 | ||||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||||
(dollar amounts in thousands) | Actual | 10% adverse change | 20% adverse change | Actual | 10% adverse change | 20% adverse change | |||||||||||||||
Constant prepayment rate (annualized) | 10.50 | % | $ | (4,375 | ) | $ | (8,445 | ) | 11.10 | % | $ | (5,543 | ) | $ | (10,648 | ) | |||||
Spread over forward interest rate swap rates | 1,208 bps | (3,530 | ) | (6,848 | ) | 875 bps | (4,662 | ) | (9,017 | ) |
Three Months Ended June 30, | Six months ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Carrying value, beginning of period | $ | 7,029 | $ | 5,063 | $ | 8,771 | $ | 6,898 | |||||||
New servicing assets created | — | 11,180 | — | 11,180 | |||||||||||
Amortization and other | (1,571 | ) | (1,913 | ) | (3,313 | ) | (3,748 | ) | |||||||
Carrying value, end of period | $ | 5,458 | $ | 14,330 | $ | 5,458 | $ | 14,330 | |||||||
Fair value, end of period | $ | 5,551 | $ | 14,336 | $ | 5,551 | $ | 14,336 | |||||||
Weighted-average life (years) | 3.0 | 3.2 | 3.0 | 3.2 |
June 30, 2016 | December 31, 2015 | ||||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||||
(dollar amounts in thousands) | Actual | 10% adverse change | 20% adverse change | Actual | 10% adverse change | 20% adverse change | |||||||||||||||
Constant prepayment rate (annualized) | 18.48 | % | $ | (240 | ) | $ | (469 | ) | 18.36 | % | $ | (500 | ) | $ | (895 | ) | |||||
Spread over forward interest rate swap rates | 500 bps | (5 | ) | (10 | ) | 500 bps | (10 | ) | (19 | ) |
Three Months Ended June 30, | Six months ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||
SBA loans sold with servicing retained | $ | 58,629 | $ | 53,534 | $ | 104,518 | $ | 95,935 | |||||||
Pretax gains resulting from above loan sales (1) | 4,662 | 4,696 | 8,183 | 8,270 |
(1) | Recorded in gain on sale of loans. |
Three Months Ended June 30, | Six months ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Carrying value, beginning of period | $ | 19,526 | $ | 17,947 | $ | 19,747 | $ | 18,536 | |||||||
New servicing assets created | 1,868 | 1,839 | 3,380 | 3,296 | |||||||||||
Amortization and other | (1,782 | ) | (1,514 | ) | (3,515 | ) | (3,560 | ) | |||||||
Carrying value, end of period | $ | 19,612 | $ | 18,272 | $ | 19,612 | $ | 18,272 | |||||||
Fair value, end of period | $ | 23,823 | $ | 20,350 | $ | 23,823 | $ | 20,350 | |||||||
Weighted-average life (years) | 3.3 | 3.3 | 3.3 | 3.3 |
June 30, 2016 | December 31, 2015 | ||||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||||
(dollar amounts in thousands) | Actual | 10% adverse change | 20% adverse change | Actual | 10% adverse change | 20% adverse change | |||||||||||||||
Constant prepayment rate (annualized) | 7.50 | % | $ | (326 | ) | $ | (648 | ) | 7.60 | % | $ | (313 | ) | $ | (622 | ) | |||||
Discount rate | 15.00 | (637 | ) | (1,248 | ) | 15.00 | (610 | ) | (1,194 | ) |
Three Months Ended June 30, 2016 | |||||||||||
Tax (Expense) | |||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | ||||||||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | $ | 1,032 | $ | (365 | ) | $ | 667 | ||||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | 50,278 | (18,234 | ) | 32,044 | |||||||
Less: Reclassification adjustment for net losses (gains) included in net income | (2,294 | ) | 811 | (1,483 | ) | ||||||
Net change in unrealized holding gains (losses) on available-for-sale debt securities | 49,016 | (17,788 | ) | 31,228 | |||||||
Net change in unrealized holding gains (losses) on available-for-sale equity securities | 66 | (24 | ) | 42 | |||||||
Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period | 1,989 | (696 | ) | 1,293 | |||||||
Less: Reclassification adjustment for net (gains) losses included in net income | (248 | ) | 89 | (159 | ) | ||||||
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | 1,741 | (607 | ) | 1,134 | |||||||
Net change in pension and other post-retirement obligations | 1,293 | (453 | ) | 840 | |||||||
Total other comprehensive income (loss) | $ | 52,116 | $ | (18,872 | ) | $ | 33,244 |
Three Months Ended June 30, 2015 | |||||||||||
Tax (Expense) | |||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | ||||||||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | $ | 13,490 | $ | (4,770 | ) | $ | 8,720 | ||||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | (52,119 | ) | 18,374 | (33,745 | ) | ||||||
Less: Reclassification adjustment for net losses (gains) included in net income | (120 | ) | 42 | (78 | ) | ||||||
Net change in unrealized holding gains (losses) on available-for-sale debt securities | (38,749 | ) | 13,646 | (25,103 | ) | ||||||
Net change in unrealized holding gains (losses) on available-for-sale equity securities | 16 | (5 | ) | 11 | |||||||
Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period | (829 | ) | 290 | (539 | ) | ||||||
Less: Reclassification adjustment for net (gains) losses included in net income | (138 | ) | 48 | (90 | ) | ||||||
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | (967 | ) | 338 | (629 | ) | ||||||
Net change in pension and other post-retirement obligations | 1,390 | (487 | ) | 903 | |||||||
Total other comprehensive income (loss) | $ | (38,310 | ) | $ | 13,492 | $ | (24,818 | ) |
Six months ended June 30, 2016 | |||||||||||
Tax (expense) | |||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | ||||||||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | $ | (2,602 | ) | $ | 920 | $ | (1,682 | ) | |||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | 130,746 | (46,919 | ) | 83,827 | |||||||
Less: Reclassification adjustment for net losses (gains) included in net income | (2,758 | ) | 975 | (1,783 | ) | ||||||
Net change in unrealized holding gains (losses) on available-for-sale debt securities | 125,386 | (45,024 | ) | 80,362 | |||||||
Net change in unrealized holding gains (losses) on available-for-sale equity securities | 170 | (60 | ) | 110 | |||||||
Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period | 16,218 | (5,676 | ) | 10,542 | |||||||
Less: Reclassification adjustment for net (gains) losses included in net income | (892 | ) | 313 | (579 | ) | ||||||
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | 15,326 | (5,363 | ) | 9,963 | |||||||
Net change in pension and other post-retirement obligations | 2,586 | (905 | ) | 1,681 | |||||||
Total other comprehensive income (loss) | $ | 143,468 | $ | (51,352 | ) | $ | 92,116 |
Six months ended June 30, 2015 | |||||||||||
Tax (expense) | |||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | ||||||||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | $ | 18,735 | $ | (6,625 | ) | $ | 12,110 | ||||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | 8,384 | (3,103 | ) | 5,281 | |||||||
Less: Reclassification adjustment for net losses (gains) included in net income | (241 | ) | 84 | (157 | ) | ||||||
Net change in unrealized holding gains (losses) on available-for-sale debt securities | 26,878 | (9,644 | ) | 17,234 | |||||||
Net change in unrealized holding gains (losses) on available-for-sale equity securities | 25 | (9 | ) | 16 | |||||||
Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period | 27,317 | (9,561 | ) | 17,756 | |||||||
Less: Reclassification adjustment for net (gains) losses included in net income | (261 | ) | 91 | (170 | ) | ||||||
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | 27,056 | (9,470 | ) | 17,586 | |||||||
Net change in pension and other post-retirement obligations | 2,779 | (973 | ) | 1,806 | |||||||
Total other comprehensive income (loss) | $ | 56,738 | $ | (20,096 | ) | $ | 36,642 |
(dollar amounts in thousands) | Unrealized gains and (losses) on debt securities (1) | Unrealized gains and (losses) on equity securities | Unrealized gains and (losses) on cash flow hedging derivatives | Unrealized gains (losses) for pension and other post- retirement obligations | Total | ||||||||||||||
December 31, 2014 | $ | 15,137 | $ | 484 | $ | (12,233 | ) | $ | (225,680 | ) | $ | (222,292 | ) | ||||||
Other comprehensive income before reclassifications | 17,391 | 16 | 17,756 | — | 35,163 | ||||||||||||||
Amounts reclassified from accumulated OCI to earnings | (157 | ) | — | (170 | ) | 1,806 | 1,479 | ||||||||||||
Period change | 17,234 | 16 | 17,586 | 1,806 | 36,642 | ||||||||||||||
June 30, 2015 | $ | 32,371 | $ | 500 | $ | 5,353 | $ | (223,874 | ) | $ | (185,650 | ) | |||||||
December 31, 2015 | $ | 8,361 | $ | 176 | $ | (3,948 | ) | $ | (230,747 | ) | $ | (226,158 | ) | ||||||
Other comprehensive income before reclassifications | 82,145 | 110 | 10,542 | — | 92,797 | ||||||||||||||
Amounts reclassified from accumulated OCI to earnings | (1,783 | ) | — | (579 | ) | 1,681 | (681 | ) | |||||||||||
Period change | 80,362 | 110 | 9,963 | 1,681 | 92,116 | ||||||||||||||
June 30, 2016 | $ | 88,723 | $ | 286 | $ | 6,015 | $ | (229,066 | ) | $ | (134,042 | ) |
(1) | Amount at June 30, 2016 and December 31, 2015 include $7 million and $9 million, respectively, of net unrealized gains on securities transferred from the available-for-sale securities portfolio to the held-to-maturity securities portfolio. The net unrealized gains will be recognized in earnings over the remaining life of the security using the effective interest method. |
Reclassifications out of accumulated OCI | |||||||||
Accumulated OCI components | Amounts reclassified from accumulated OCI | Location of net gain (loss) reclassified from accumulated OCI into earnings | |||||||
Three Months Ended | |||||||||
(dollar amounts in thousands) | June 30, 2016 | June 30, 2015 | |||||||
Gains (losses) on debt securities: | |||||||||
Amortization of unrealized gains (losses) | $ | 740 | $ | 80 | Interest income - held-to-maturity securities - taxable | ||||
Realized gain (loss) on sale of securities | 1,630 | 40 | Noninterest income - net gains (losses) on sale of securities | ||||||
OTTI recorded | (76 | ) | — | Noninterest income - net gains (losses) on sale of securities | |||||
2,294 | 120 | Total before tax | |||||||
(811 | ) | (42 | ) | Tax (expense) benefit | |||||
$ | 1,483 | $ | 78 | Net of tax | |||||
Gains (losses) on cash flow hedging relationships: | |||||||||
Interest rate contracts | $ | 248 | $ | 118 | Interest income - loans and leases | ||||
Interest rate contracts | — | 20 | Noninterest income - other income | ||||||
248 | 138 | Total before tax | |||||||
(89 | ) | (48 | ) | Tax (expense) benefit | |||||
$ | 159 | $ | 90 | Net of tax | |||||
Amortization of defined benefit pension and post-retirement items: | |||||||||
Actuarial gains (losses) | $ | (1,785 | ) | $ | (1,882 | ) | Noninterest expense - personnel costs | ||
Prior service credit | 492 | 492 | Noninterest expense - personnel costs | ||||||
(1,293 | ) | (1,390 | ) | Total before tax | |||||
453 | 487 | Tax (expense) benefit | |||||||
$ | (840 | ) | $ | (903 | ) | Net of tax |
Reclassifications out of accumulated OCI | |||||||||
Accumulated OCI components | Amounts reclassified from accumulated OCI | Location of net gain (loss) reclassified from accumulated OCI into earnings | |||||||
Six months ended | |||||||||
(dollar amounts in thousands) | June 30, 2016 | June 30, 2015 | |||||||
Gains (losses) on debt securities: | |||||||||
Amortization of unrealized gains (losses) | $ | 1,204 | $ | 201 | Interest income - held-to-maturity securities - taxable | ||||
Realized gain (loss) on sale of securities | 1,630 | 40 | Noninterest income - net gains (losses) on sale of securities | ||||||
OTTI recorded | (76 | ) | — | Noninterest income - net gains (losses) on sale of securities | |||||
Total before tax | 2,758 | 241 | |||||||
Tax (expense) benefit | (975 | ) | (84 | ) | |||||
Net of tax | $ | 1,783 | $ | 157 | |||||
Gains (losses) on cash flow hedging relationships: | |||||||||
Interest rate contracts | $ | 893 | $ | 251 | Interest income - loans and leases | ||||
Interest rate contracts | (1 | ) | 10 | Noninterest income - other income | |||||
Total before tax | 892 | 261 | |||||||
Tax (expense) benefit | (313 | ) | (91 | ) | |||||
Net of tax | $ | 579 | $ | 170 | |||||
Amortization of defined benefit pension and post-retirement items: | |||||||||
Actuarial gains (losses) | $ | (3,570 | ) | $ | (3,763 | ) | Noninterest expense - personnel costs | ||
Prior service credit | 984 | 984 | Noninterest expense - personnel costs | ||||||
Total before tax | (2,586 | ) | (2,779 | ) | |||||
Tax (expense) benefit | 905 | 973 | |||||||
Net of tax | $ | (1,681 | ) | $ | (1,806 | ) |
Three Months Ended June 30, | Six months ended June 30, | ||||||||||||||
(dollar amounts in thousands, except per share amounts) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Basic earnings per common share: | |||||||||||||||
Net income | $ | 174,540 | $ | 196,206 | $ | 345,854 | $ | 362,060 | |||||||
Preferred stock dividends | (19,874 | ) | (7,968 | ) | (27,872 | ) | (15,933 | ) | |||||||
Net income available to common shareholders | $ | 154,666 | $ | 188,238 | $ | 317,982 | $ | 346,127 | |||||||
Average common shares issued and outstanding | 798,167 | 806,891 | 796,961 | 808,335 | |||||||||||
Basic earnings per common share | $ | 0.19 | $ | 0.23 | $ | 0.40 | $ | 0.43 | |||||||
Diluted earnings per common share: | |||||||||||||||
Net income available to common shareholders | $ | 154,666 | $ | 188,238 | $ | 317,982 | $ | 346,127 | |||||||
Effect of assumed preferred stock conversion | — | — | — | — | |||||||||||
Net income applicable to diluted earnings per share | $ | 154,666 | $ | 188,238 | $ | 317,982 | $ | 346,127 | |||||||
Average common shares issued and outstanding | 798,167 | 806,891 | 796,961 | 808,335 | |||||||||||
Dilutive potential common shares: | |||||||||||||||
Stock options and restricted stock units and awards | 9,785 | 11,250 | 10,085 | 11,688 | |||||||||||
Shares held in deferred compensation plans | 2,282 | 1,912 | 2,178 | 1,809 | |||||||||||
Other | 137 | 185 | 136 | 191 | |||||||||||
Dilutive potential common shares: | 12,204 | 13,347 | 12,399 | 13,688 | |||||||||||
Total diluted average common shares issued and outstanding | 810,371 | 820,238 | 809,360 | 822,023 | |||||||||||
Diluted earnings per common share | $ | 0.19 | $ | 0.23 | $ | 0.39 | $ | 0.42 |
Pension Benefits | Post Retirement Benefits | ||||||||||||||
Three Months Ended June 30, | Three Months Ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Service cost (1) | $ | 1,025 | $ | 458 | $ | — | $ | — | |||||||
Interest cost | 6,748 | 7,984 | 54 | 142 | |||||||||||
Expected return on plan assets | (10,224 | ) | (11,044 | ) | — | — | |||||||||
Amortization of prior service cost | — | — | (492 | ) | (492 | ) | |||||||||
Amortization of gain (loss) | 1,865 | 1,984 | (72 | ) | (116 | ) | |||||||||
Settlements | 3,400 | 3,100 | — | — | |||||||||||
Benefit expense | $ | 2,814 | $ | 2,482 | $ | (510 | ) | $ | (466 | ) |
Pension Benefits | Post Retirement Benefits | ||||||||||||||
Six months ended June 30, | Six months ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Service cost (1) | $ | 2,050 | $ | 915 | $ | — | $ | — | |||||||
Interest cost | 13,496 | 15,969 | 109 | 283 | |||||||||||
Expected return on plan assets | (20,447 | ) | (22,087 | ) | — | — | |||||||||
Amortization of prior service credit | — | — | (984 | ) | (984 | ) | |||||||||
Amortization of gain (loss) | 3,729 | 3,966 | (144 | ) | (232 | ) | |||||||||
Settlements | 6,800 | 5,650 | — | — | |||||||||||
Benefit expense | $ | 5,628 | $ | 4,413 | $ | (1,019 | ) | $ | (933 | ) |
(1) | Since no participants will be earning benefits after December 31, 2013, the 2015 and 2016 service cost represents only administrative expenses. |
Fair Value | |||||||||||||
(dollar amounts in thousands) | June 30, 2016 | December 31, 2015 | |||||||||||
Cash equivalents: | |||||||||||||
Federated-money market | $ | 5,841 | 1 | % | $ | 15,590 | 3 | % | |||||
Fixed income: | |||||||||||||
Corporate obligations | 220,504 | 36 | 205,081 | 34 | |||||||||
U.S. government obligations | 65,827 | 11 | 64,456 | 11 | |||||||||
Mutual funds-fixed income | 26,661 | 4 | 32,874 | 6 | |||||||||
U.S. government agencies | 7,904 | 1 | 6,979 | 1 | |||||||||
Equities: | |||||||||||||
Mutual funds-equities | 129,997 | 21 | 136,026 | 23 | |||||||||
Preferred stock | 5,100 | 1 | — | — | |||||||||
Common stock | 135,757 | 22 | 120,046 | 20 | |||||||||
Exchange traded funds | 6,574 | 1 | 6,530 | 1 | |||||||||
Limited partnerships | 10,395 | 2 | 6,635 | 1 | |||||||||
Fair value of plan assets | $ | 614,560 | 100 | % | $ | 594,217 | 100 | % |
Three Months Ended June 30, | Six months ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||
SERP & SRIP | $ | 598 | $ | 578 | $ | 1,312 | $ | 1,157 | |||||||
Defined contribution plan | 8,348 | 8,078 | 16,269 | 15,523 | |||||||||||
Benefit cost | $ | 8,946 | $ | 8,656 | $ | 17,581 | $ | 16,680 |
Fair Value Measurements at Reporting Date Using | Netting Adjustments (1) | June 30, 2016 | |||||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Assets | |||||||||||||||||||
Loans held for sale | $ | — | $ | 614,626 | $ | — | $ | — | $ | 614,626 | |||||||||
Loans held for investment | — | 36,978 | — | — | 36,978 | ||||||||||||||
Trading account securities: | |||||||||||||||||||
Municipal securities | — | 2,894 | — | — | 2,894 | ||||||||||||||
Other securities | 32,395 | — | — | — | 32,395 | ||||||||||||||
32,395 | 2,894 | — | — | 35,289 | |||||||||||||||
Available-for-sale and other securities: | |||||||||||||||||||
U.S. Treasury securities | 7,320 | — | — | — | 7,320 | ||||||||||||||
Federal agencies: Mortgage-backed | — | 5,217,792 | — | — | 5,217,792 | ||||||||||||||
Federal agencies: Other agencies | — | 85,993 | — | — | 85,993 | ||||||||||||||
Municipal securities | — | 343,652 | 2,237,975 | — | 2,581,627 | ||||||||||||||
Asset-backed securities | — | 819,194 | 71,379 | — | 890,573 | ||||||||||||||
Corporate debt | — | 520,004 | — | — | 520,004 | ||||||||||||||
Other securities | 12,032 | 3,947 | — | — | 15,979 | ||||||||||||||
19,352 | 6,990,582 | 2,309,354 | — | 9,319,288 | |||||||||||||||
Automobile loans | — | — | 925 | — | 925 | ||||||||||||||
MSRs | — | — | 13,105 | — | 13,105 | ||||||||||||||
Derivative assets | — | 573,837 | 14,935 | (222,765 | ) | 366,007 | |||||||||||||
Liabilities | |||||||||||||||||||
Derivative liabilities | — | 323,675 | 2,184 | (239,910 | ) | 85,949 | |||||||||||||
Short-term borrowings | — | 907 | — | — | 907 |
Fair Value Measurements at Reporting Date Using | Netting Adjustments (1) | December 31, 2015 | |||||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Assets | |||||||||||||||||||
Loans held for sale | $ | — | $ | 337,577 | $ | — | $ | — | $ | 337,577 | |||||||||
Loans held for investment | — | 32,889 | — | — | 32,889 | ||||||||||||||
Trading account securities: | |||||||||||||||||||
Municipal securities | — | 4,159 | — | — | 4,159 | ||||||||||||||
Other securities | 32,475 | 363 | — | — | 32,838 | ||||||||||||||
32,475 | 4,522 | — | — | 36,997 | |||||||||||||||
Available-for-sale and other securities: | |||||||||||||||||||
U.S. Treasury securities | 5,472 | — | — | — | 5,472 | ||||||||||||||
Federal agencies: Mortgage-backed | — | 4,521,688 | — | — | 4,521,688 | ||||||||||||||
Federal agencies: Other agencies | — | 115,913 | — | — | 115,913 | ||||||||||||||
Municipal securities | — | 360,845 | 2,095,551 | — | 2,456,396 | ||||||||||||||
Asset-backed securities | — | 761,076 | 100,337 | — | 861,413 | ||||||||||||||
Corporate debt | — | 466,477 | — | — | 466,477 | ||||||||||||||
Other securities | 11,397 | 3,899 | — | — | 15,296 | ||||||||||||||
16,869 | 6,229,898 | 2,195,888 | — | 8,442,655 | |||||||||||||||
Automobile loans | — | — | 1,748 | — | 1,748 | ||||||||||||||
MSRs | — | — | 17,585 | — | 17,585 | ||||||||||||||
Derivative assets | — | 429,448 | 6,721 | (161,297 | ) | 274,872 | |||||||||||||
Liabilities | |||||||||||||||||||
Derivative liabilities | — | 287,994 | 665 | (144,309 | ) | 144,350 | |||||||||||||
Short-term borrowings | — | 1,770 | — | — | 1,770 |
(1) | Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and cash collateral held or placed with the same counterparties. |
Level 3 Fair Value Measurements Three Months Ended June 30, 2016 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Asset- backed securities | Automobile loans | ||||||||||||||
Opening balance | $ | 14,819 | $ | 10,347 | $ | 2,281,743 | $ | 94,329 | $ | 1,216 | |||||||||
Transfers into Level 3 | — | — | — | — | — | ||||||||||||||
Transfers out of Level 3 (1) | — | (2,508 | ) | — | — | — | |||||||||||||
Total gains/losses for the period: | |||||||||||||||||||
Included in earnings | (1,714 | ) | 4,912 | — | 2 | — | |||||||||||||
Included in OCI | — | — | 7,486 | 5,842 | — | ||||||||||||||
Purchases/originations | — | — | 46,457 | — | — | ||||||||||||||
Sales | — | — | (36,657 | ) | (27,794 | ) | — | ||||||||||||
Repayments | — | — | — | — | (291 | ) | |||||||||||||
Issues | — | — | — | — | — | ||||||||||||||
Settlements | — | — | (61,054 | ) | (1,000 | ) | — | ||||||||||||
Closing balance | $ | 13,105 | $ | 12,751 | $ | 2,237,975 | $ | 71,379 | $ | 925 | |||||||||
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | $ | (1,714 | ) | $ | 4,912 | $ | — | $ | 2 | $ | — |
Level 3 Fair Value Measurements Three Months Ended June 30, 2015 | |||||||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Private- label CMO | Asset- backed securities | Automobile loans | |||||||||||||||||
Opening balance | $ | 20,455 | $ | 7,825 | $ | 1,635,808 | $ | 30,072 | $ | 89,155 | $ | 6,495 | |||||||||||
Transfers into Level 3 | |||||||||||||||||||||||
Transfers out of Level 3 | |||||||||||||||||||||||
Total gains/losses for the period: | |||||||||||||||||||||||
Included in earnings | 226 | (1,780 | ) | 11 | 6 | (213 | ) | ||||||||||||||||
Included in OCI | 2,677 | 505 | 14,351 | ||||||||||||||||||||
Purchases/originations | 99,031 | ||||||||||||||||||||||
Sales | |||||||||||||||||||||||
Repayments | (2,284 | ) | |||||||||||||||||||||
Issues | |||||||||||||||||||||||
Settlements | (879 | ) | (20,671 | ) | (1,159 | ) | (1,441 | ) | |||||||||||||||
Closing balance | $ | 20,681 | $ | 5,166 | $ | 1,716,845 | $ | 29,429 | $ | 102,071 | $ | 3,998 | |||||||||||
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | $ | 226 | $ | (1,780 | ) | $ | 2,677 | $ | 505 | $ | 14,351 | $ | (213 | ) |
Level 3 Fair Value Measurements Six months ended June 30, 2016 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Asset- backed securities | Automobile loans | ||||||||||||||
Opening balance | $ | 17,585 | $ | 6,056 | $ | 2,095,551 | $ | 100,337 | $ | 1,748 | |||||||||
Transfers into Level 3 | — | — | — | — | — | ||||||||||||||
Transfers out of Level 3 (1) | — | (3,423 | ) | — | — | — | |||||||||||||
Total gains/losses for the period: | |||||||||||||||||||
Included in earnings | (4,480 | ) | 10,118 | — | 2 | — | |||||||||||||
Included in OCI | — | — | 19,326 | 674 | — | ||||||||||||||
Purchases/originations | — | — | 283,907 | — | — | ||||||||||||||
Sales | — | — | (36,657 | ) | (27,794 | ) | — | ||||||||||||
Repayments | — | — | — | — | (823 | ) | |||||||||||||
Issues | — | — | — | — | — | ||||||||||||||
Settlements | — | — | (124,152 | ) | (1,840 | ) | — | ||||||||||||
Closing balance | $ | 13,105 | $ | 12,751 | $ | 2,237,975 | $ | 71,379 | $ | 925 | |||||||||
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | $ | (4,480 | ) | $ | 10,218 | $ | — | $ | 2 | $ | — |
Level 3 Fair Value Measurements Six months ended June 30, 2015 | |||||||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Private- label CMO | Asset- backed securities | Automobile loans | |||||||||||||||||
Opening balance | $ | 22,786 | $ | 3,360 | $ | 1,417,593 | $ | 30,464 | $ | 82,738 | $ | 10,590 | |||||||||||
Transfers into Level 3 | — | — | — | — | — | — | |||||||||||||||||
Transfers out of Level 3 | — | — | — | — | — | — | |||||||||||||||||
Total gains/losses for the period: | |||||||||||||||||||||||
Included in earnings | (2,105 | ) | 3,221 | — | 27 | 6 | (426 | ) | |||||||||||||||
Included in OCI | — | — | (1,315 | ) | 523 | 21,863 | — | ||||||||||||||||
Purchases/originations | — | — | 342,028 | — | — | (6,166 | ) | ||||||||||||||||
Sales | — | — | — | — | — | — | |||||||||||||||||
Repayments | — | — | — | — | — | — | |||||||||||||||||
Issues | — | — | — | — | — | — | |||||||||||||||||
Settlements | — | (1,415 | ) | (41,461 | ) | (1,585 | ) | (2,536 | ) | — | |||||||||||||
Closing balance | $ | 20,681 | $ | 5,166 | $ | 1,716,845 | $ | 29,429 | $ | 102,071 | $ | 3,998 | |||||||||||
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | $ | (2,105 | ) | $ | 3,221 | $ | (1,315 | ) | $ | 523 | $ | 21,863 | $ | (426 | ) |
Level 3 Fair Value Measurements Three Months Ended June 30, 2016 | |||||||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Private- label CMO | Asset- backed securities | Automobile loans | |||||||||||||||||
Classification of gains and losses in earnings: | |||||||||||||||||||||||
Mortgage banking income | $ | (1,714 | ) | $ | 4,912 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Securities gains (losses) | — | — | — | — | — | — | |||||||||||||||||
Interest and fee income | — | — | — | — | — | — | |||||||||||||||||
Noninterest income | — | — | — | — | 2 | — | |||||||||||||||||
Total | $ | (1,714 | ) | $ | 4,912 | $ | — | $ | — | $ | 2 | $ | — |
Level 3 Fair Value Measurements Three Months Ended June 30, 2015 | |||||||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Private- label CMO | Asset- backed securities | Automobile loans | |||||||||||||||||
Classification of gains and losses in earnings: | |||||||||||||||||||||||
Mortgage banking income | $ | 226 | $ | (1,780 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||
Securities gains (losses) | — | — | — | — | — | — | |||||||||||||||||
Interest and fee income | — | — | — | 11 | 6 | (213 | ) | ||||||||||||||||
Noninterest income | — | — | — | — | — | — | |||||||||||||||||
Total | $ | 226 | $ | (1,780 | ) | $ | — | $ | 11 | $ | 6 | $ | (213 | ) |
Level 3 Fair Value Measurements Six months ended June 30, 2016 | |||||||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Private- label CMO | Asset- backed securities | Automobile loans | |||||||||||||||||
Classification of gains and losses in earnings: | |||||||||||||||||||||||
Mortgage banking income | $ | (4,480 | ) | $ | 10,118 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Securities gains (losses) | — | — | — | — | — | — | |||||||||||||||||
Interest and fee income | — | — | — | — | — | — | |||||||||||||||||
Noninterest income | — | — | — | — | 2 | — | |||||||||||||||||
Total | $ | (4,480 | ) | $ | 10,118 | $ | — | $ | — | $ | 2 | $ | — |
Level 3 Fair Value Measurements Six months ended June 30, 2015 | |||||||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||||
(dollar amounts in thousands) | MSRs | Derivative instruments | Municipal securities | Private- label CMO | Asset- backed securities | Automobile loans | |||||||||||||||||
Classification of gains and losses in earnings: | |||||||||||||||||||||||
Mortgage banking income | $ | (2,105 | ) | $ | 3,221 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Securities gains (losses) | — | — | — | — | — | — | |||||||||||||||||
Interest and fee income | — | — | — | 27 | 6 | (426 | ) | ||||||||||||||||
Noninterest income | — | — | — | — | — | — | |||||||||||||||||
Total | $ | (2,105 | ) | $ | 3,221 | $ | — | $ | 27 | $ | 6 | $ | (426 | ) |
June 30, 2016 | December 31, 2015 | ||||||||||||||||||||||
(dollar amounts in thousands) | Fair value carrying amount | Aggregate unpaid principal | Difference | Fair value carrying amount | Aggregate unpaid principal | Difference | |||||||||||||||||
Assets | |||||||||||||||||||||||
Loans held for sale | $ | 614,626 | $ | 582,986 | $ | 31,640 | $ | 337,577 | $ | 326,802 | $ | 10,775 | |||||||||||
Loans held for investment | 36,978 | 37,694 | (716 | ) | 32,889 | 33,637 | (748 | ) | |||||||||||||||
Automobile loans | 925 | 925 | — | 1,748 | 1,748 | — |
Net gains (losses) from fair value changes | Net gains (losses) from fair value changes | ||||||||||||||
Three Months Ended June 30, | Six months ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Assets | |||||||||||||||
Loans held for sale | $ | 8,870 | $ | (6,559 | ) | $ | 13,519 | $ | (5,557 | ) | |||||
Automobile loans | — | (213 | ) | — | (426 | ) |
Gains (losses) included in fair value changes associated with instrument specific credit risk | Gains (losses) included in fair value changes associated with instrument specific credit risk | ||||||||||||||
Three Months Ended June 30, | Six months ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Assets | |||||||||||||||
Automobile loans | $ | 97 | $ | 5 | $ | 187 | $ | 70 |
Fair Value Measurements Using | |||||||||||||||||||||||
(dollar amounts in thousands) | Fair Value | Quoted Prices In Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Other Unobservable Inputs (Level 3) | Total Gains/(Losses) Three Months Ended June 30, 2016 | Total Gains/(Losses) Six months ended June 30, 2016 | |||||||||||||||||
MSRs | $ | 120,091 | $ | — | $ | — | $ | 120,091 | $ | (7,296 | ) | $ | (23,636 | ) | |||||||||
Impaired loans | 43,202 | — | — | 43,202 | 4,405 | 5,822 | |||||||||||||||||
Other real estate owned | 28,901 | — | — | 28,901 | (715 | ) | (1,220 | ) |
Quantitative Information about Level 3 Fair Value Measurements at June 30, 2016 | ||||||||||
(dollar amounts in thousands) | Fair Value | Valuation Technique | Significant Unobservable Input | Range (Weighted Average) | ||||||
MSRs | $ | 13,105 | Discounted cash flow | Constant prepayment rate | 7.4% - 26.6% (12.7%) | |||||
Spread over forward interest rate swap rates | 3.0% - 9.2% (5.5%) | |||||||||
Derivative assets | 14,935 | Consensus Pricing | Net market price | -2.0% - 23.4% (2.9%) | ||||||
Derivative liabilities | 2,184 | Estimated Pull through % | 10.2% - 99.8% (79.1%) | |||||||
Municipal securities | 2,237,975 | Discounted cash flow | Discount rate | 0.6% - 7.8% (3.6%) | ||||||
Cumulative default | 0.1% - 56.0% (2.7%) | |||||||||
Loss given default | 5.0% - 80.0% (19.9%) | |||||||||
Asset-backed securities | 71,379 | Discounted cash flow | Discount rate | 4.9% - 11.4% (6.3%) | ||||||
Cumulative prepayment rate | 0.0% - 100% (8.5%) | |||||||||
Cumulative default | 1.4% - 100% (11.5%) | |||||||||
Loss given default | 85% - 100% (96.7%) | |||||||||
Cure given deferral | 0.0% - 75.0% (35.9%) | |||||||||
Automobile loans | 925 | Discounted cash flow | Constant prepayment rate | 154.2 | % | |||||
Discount rate | 0.2% - 5.0% (2.3%) | |||||||||
Life of pool cumulative losses | 2.1 | % | ||||||||
Impaired loans | 43,202 | Appraisal value | NA | NA | ||||||
Other real estate owned | 28,901 | Appraisal value | NA | NA |
Quantitative Information about Level 3 Fair Value Measurements at December 31, 2015 | ||||||||||
(dollar amounts in thousands) | Fair Value | Valuation Technique | Significant Unobservable Input | Range (Weighted Average) | ||||||
MSRs | $ | 17,585 | Discounted cash flow | Constant prepayment rate | 7.9% - 25.7% (14.7%) | |||||
Spread over forward interest rate swap rates | 3.3% - 9.2% (5.4%) | |||||||||
Derivative assets | 6,721 | Consensus Pricing | Net market price | -3.2% - 20.9% (1.9%) | ||||||
Derivative liabilities | 665 | Estimated Pull through % | 11.9% - 99.8% (76.7%) | |||||||
Municipal securities | 2,095,551 | Discounted cash flow | Discount rate | 0.3% - 7.2% (3.1%) | ||||||
Cumulative default | 0.1% - 50.0% (2.1%) | |||||||||
Loss given default | 5.0% - 80.0% (20.5%) | |||||||||
Asset-backed securities | 100,337 | Discounted cash flow | Discount rate | 4.6% - 10.9% (6.2%) | ||||||
Cumulative prepayment rate | 0.0% - 100% (9.6%) | |||||||||
Cumulative default | 1.6% - 100% (11.1%) | |||||||||
Loss given default | 85% - 100% (96.6%) | |||||||||
Cure given deferral | 0.0% - 75.0% (36.8%) | |||||||||
Automobile loans | 1,748 | Discounted cash flow | Constant prepayment rate | 154.2 | % | |||||
Discount rate | 0.2% - 5.0% (2.3%) | |||||||||
Life of pool cumulative losses | 2.1 | % | ||||||||
Impaired loans | 62,029 | Appraisal value | NA | NA | ||||||
Other real estate owned | 27,342 | Appraisal value | NA | NA |
June 30, 2016 | December 31, 2015 | ||||||||||||||
(dollar amounts in thousands) | Carrying Amount | Fair Value | Carrying Amount | Fair Value | |||||||||||
Financial Assets | |||||||||||||||
Cash and short-term assets | $ | 912,076 | $ | 912,076 | $ | 898,994 | $ | 898,994 | |||||||
Trading account securities | 35,289 | 35,289 | 36,997 | 36,997 | |||||||||||
Loans held for sale | 786,993 | 789,608 | 474,621 | 484,511 | |||||||||||
Available-for-sale and other securities | 9,653,038 | 9,653,038 | 8,775,441 | 8,775,441 | |||||||||||
Held-to-maturity securities | 5,658,565 | 5,786,224 | 6,159,590 | 6,135,458 | |||||||||||
Net loans and direct financing leases | 51,920,357 | 50,790,280 | 49,743,256 | 48,024,998 | |||||||||||
Derivatives | 366,007 | 366,007 | 274,872 | 274,872 | |||||||||||
Financial Liabilities | |||||||||||||||
Deposits | 55,043,465 | 55,205,650 | 55,294,979 | 55,299,435 | |||||||||||
Short-term borrowings | 1,956,745 | 1,956,745 | 615,279 | 615,279 | |||||||||||
Long-term debt | 7,929,820 | 7,987,748 | 7,067,614 | 7,043,014 | |||||||||||
Derivatives | 85,949 | 85,949 | 144,350 | 144,350 |
Estimated Fair Value Measurements at Reporting Date Using | June 30, 2016 | ||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | ||||||||||||
Financial Assets | |||||||||||||||
Held-to-maturity securities | $ | — | $ | 5,786,224 | $ | — | $ | 5,786,224 | |||||||
Net loans and direct financing leases | — | — | 50,790,280 | 50,790,280 | |||||||||||
Financial Liabilities | |||||||||||||||
Deposits | — | 52,421,808 | 2,783,842 | 55,205,650 | |||||||||||
Short-term borrowings | — | 907 | 1,955,838 | 1,956,745 | |||||||||||
Long-term debt | — | — | 7,987,748 | 7,987,748 |
Estimated Fair Value Measurements at Reporting Date Using | December 31, 2015 | ||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | ||||||||||||
Financial Assets | |||||||||||||||
Held-to-maturity securities | $ | — | $ | 6,135,458 | $ | — | $ | 6,135,458 | |||||||
Net loans and direct financing leases | — | — | 48,024,998 | 48,024,998 | |||||||||||
Financial Liabilities | |||||||||||||||
Deposits | — | 51,869,105 | 3,430,330 | 55,299,435 | |||||||||||
Short-term borrowings | — | 1,770 | 613,509 | 615,279 | |||||||||||
Long-term debt | — | — | 7,043,014 | 7,043,014 |
(dollar amounts in thousands) | Fair Value Hedges | Cash Flow Hedges | Total | ||||||||
Instruments associated with: | |||||||||||
Loans | $ | — | $ | 4,700,000 | $ | 4,700,000 | |||||
Deposits | — | — | — | ||||||||
Subordinated notes | 450,000 | — | 450,000 | ||||||||
Long-term debt | 6,375,000 | — | 6,375,000 | ||||||||
Total notional value at June 30, 2016 | $ | 6,825,000 | $ | 4,700,000 | $ | 11,525,000 |
Weighted-Average Rate | |||||||||||||||
(dollar amounts in thousands) | Notional Value | Average Maturity (years) | Fair Value | Receive | Pay | ||||||||||
Asset conversion swaps | |||||||||||||||
Receive fixed—generic | $ | 4,700,000 | 0.8 | $ | 12,655 | 0.96 | % | 0.62 | % | ||||||
Liability conversion swaps | |||||||||||||||
Receive fixed—generic | 6,825,000 | 2.6 | 158,779 | 1.50 | 0.65 | ||||||||||
Total swap portfolio at June 30, 2016 | $ | 11,525,000 | 1.9 | $ | 171,434 | 1.28 | % | 0.64 | % |
(dollar amounts in thousands) | June 30, 2016 | December 31, 2015 | |||||
Interest rate contracts designated as hedging instruments | $ | 171,479 | $ | 80,513 | |||
Interest rate contracts not designated as hedging instruments | 329,462 | 190,846 | |||||
Foreign exchange contracts not designated as hedging instruments | 197 | 37,727 | |||||
Commodities contracts not designated as hedging instruments | 71,852 | 117,894 | |||||
Total contracts | $ | 572,990 | $ | 426,980 |
(dollar amounts in thousands) | June 30, 2016 | December 31, 2015 | |||||
Interest rate contracts designated as hedging instruments | $ | 45 | $ | 15,215 | |||
Interest rate contracts not designated as hedging instruments | 248,886 | 121,815 | |||||
Foreign exchange contracts not designated as hedging instruments | 155 | 35,283 | |||||
Commodities contracts not designated as hedging instruments | 67,849 | 114,887 | |||||
Total contracts | $ | 316,935 | $ | 287,200 |
Three Months Ended June 30, | Six months ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Interest rate contracts | |||||||||||||||
Change in fair value of interest rate swaps hedging deposits (1) | $ | — | $ | (245 | ) | $ | (82 | ) | $ | (458 | ) | ||||
Change in fair value of hedged deposits (1) | — | 236 | 72 | 450 | |||||||||||
Change in fair value of interest rate swaps hedging subordinated notes (2) | 4 | (7,362 | ) | 6,809 | (4,131 | ) | |||||||||
Change in fair value of hedged subordinated notes (2) | (4 | ) | 7,362 | (6,809 | ) | 4,131 | |||||||||
Change in fair value of interest rate swaps hedging other long-term debt (2) | 22,017 | (8,129 | ) | 83,049 | 11,896 | ||||||||||
Change in fair value of hedged other long-term debt (2) | (21,047 | ) | 7,382 | (80,834 | ) | (12,263 | ) |
(1) | Effective portion of the hedging relationship is recognized in Interest expense—deposits in the Unaudited Condensed Consolidated Statements of Income. Any resulting ineffective portion of the hedging relationship is recognized in noninterest income in the Unaudited Condensed Consolidated Statements of Income. |
(2) | Effective portion of the hedging relationship is recognized in Interest expense—subordinated notes and other long-term debt in the Unaudited Condensed Consolidated Statements of Income. Any resulting ineffective portion of the hedging relationship is recognized in noninterest income in the Unaudited Condensed Consolidated Statements of Income. |
Derivatives in cash flow hedging relationships | Amount of gain or (loss) recognized in OCI on derivatives (effective portion) (after-tax) | Location of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | Amount of (gain) or loss reclassified from accumulated OCI into earnings (effective portion) | ||||||||||||||
Three months ended June 30, | Three months ended June 30, | ||||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||||
Interest rate contracts | |||||||||||||||||
Loans | $ | 1,293 | $ | (539 | ) | Interest and fee income - loans and leases | $ | (248 | ) | $ | (118 | ) | |||||
Investment Securities | — | Noninterest income - other income | — | (20 | ) | ||||||||||||
Total | $ | 1,293 | $ | (539 | ) | $ | (248 | ) | $ | (138 | ) |
Derivatives in cash flow hedging relationships | Amount of gain or (loss) recognized in OCI on derivatives (effective portion) (after-tax) | Location of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | Amount of (gain) or loss reclassified from accumulated OCI into earnings (effective portion) | ||||||||||||||
Six months ended June 30, | Six months ended June 30, | ||||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||||
Interest rate contracts | |||||||||||||||||
Loans | $ | 10,542 | $ | 17,756 | Interest and fee income - loans and leases | $ | (893 | ) | $ | (250 | ) | ||||||
Investment Securities | — | — | Noninterest income - other income | 1 | (11 | ) | |||||||||||
Total | $ | 10,542 | $ | 17,756 | $ | (892 | ) | $ | (261 | ) |
Three Months Ended June 30, | Six months ended June 30, | ||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Derivatives in cash flow hedging relationships | |||||||||||||||
Interest rate contracts | |||||||||||||||
Loans | $ | 421 | $ | 133 | $ | 377 | $ | (30 | ) |
(dollar amounts in thousands) | June 30, 2016 | December 31, 2015 | |||||
Derivative assets: | |||||||
Interest rate lock agreements | $ | 14,935 | $ | 6,721 | |||
Forward trades and options | 847 | 2,468 | |||||
Total derivative assets | 15,782 | 9,189 | |||||
Derivative liabilities: | |||||||
Interest rate lock agreements | (102 | ) | (220 | ) | |||
Forward trades and options | (8,822 | ) | (1,239 | ) | |||
Total derivative liabilities | (8,924 | ) | (1,459 | ) | |||
Net derivative asset (liability) | $ | 6,858 | $ | 7,730 |
Gross amounts not offset in the condensed consolidated balance sheets | ||||||||||||||||||||||||
(dollar amounts in thousands) | Gross amounts of recognized assets | Gross amounts offset in the condensed consolidated balance sheets | Net amounts of assets presented in the condensed consolidated balance sheets | Financial instruments | Cash collateral received | Net amount | ||||||||||||||||||
Offsetting of Financial Assets and Derivative Assets | ||||||||||||||||||||||||
June 30, 2016 | Derivatives | $ | 588,772 | $ | (222,765 | ) | $ | 366,007 | $ | (48,950 | ) | $ | (3,159 | ) | $ | 313,898 | ||||||||
December 31, 2015 | Derivatives | 436,169 | (161,297 | ) | 274,872 | (39,305 | ) | (3,462 | ) | 232,105 |
Gross amounts not offset in the condensed consolidated balance sheets | ||||||||||||||||||||||||
(dollar amounts in thousands) | Gross amounts of recognized liabilities | Gross amounts offset in the condensed consolidated balance sheets | Net amounts of liabilities presented in the condensed consolidated balance sheets | Financial instruments | Cash collateral delivered | Net amount | ||||||||||||||||||
Offsetting of Financial Liabilities and Derivative Liabilities | ||||||||||||||||||||||||
June 30, 2016 | Derivatives | $ | 325,859 | $ | (239,910 | ) | $ | 85,949 | $ | (57,320 | ) | $ | (4,885 | ) | $ | 23,744 | ||||||||
December 31, 2015 | Derivatives | 288,659 | (144,309 | ) | 144,350 | (62,460 | ) | (20 | ) | 81,870 |
June 30, 2016 | ||||||||||||
Huntington Technology Funding Trust | Other Consolidated VIEs | Total | ||||||||||
(dollar amounts in thousands) | Series 2014A | |||||||||||
Assets: | ||||||||||||
Cash | $ | 1,561 | $ | — | $ | 1,561 | ||||||
Loans and leases | 105,810 | — | 105,810 | |||||||||
Allowance for loan and lease losses | — | — | — | |||||||||
Net loans and leases | 105,810 | — | 105,810 | |||||||||
Accrued income and other assets | — | 219 | 219 | |||||||||
Total assets | $ | 107,371 | $ | 219 | $ | 107,590 | ||||||
Liabilities: | ||||||||||||
Other long-term debt | $ | 86,315 | $ | — | $ | 86,315 | ||||||
Accrued interest and other liabilities | — | 219 | 219 | |||||||||
Total liabilities | 86,315 | 219 | 86,534 | |||||||||
Equity: | ||||||||||||
Beneficial Interest owned by third party | 21,056 | — | 21,056 | |||||||||
Total liabilities and equity | $ | 107,371 | $ | 219 | $ | 107,590 |
December 31, 2015 | |||||||||||||||
Huntington Technology Funding Trust | Other Consolidated VIEs | Total | |||||||||||||
(dollar amounts in thousands) | Series 2012A | Series 2014A | |||||||||||||
Assets: | |||||||||||||||
Cash | $ | 1,377 | $ | 1,561 | $ | — | $ | 2,938 | |||||||
Loans and leases | 32,180 | 152,331 | — | 184,511 | |||||||||||
Allowance for loan and lease losses | — | — | — | — | |||||||||||
Net loans and leases | 32,180 | 152,331 | — | 184,511 | |||||||||||
Accrued income and other assets | — | — | 229 | 229 | |||||||||||
Total assets | $ | 33,557 | $ | 153,892 | $ | 229 | $ | 187,678 | |||||||
Liabilities: | |||||||||||||||
Other long-term debt | $ | 27,153 | $ | 123,577 | $ | — | $ | 150,730 | |||||||
Accrued interest and other liabilities | — | — | 229 | 229 | |||||||||||
Total liabilities | 27,153 | 123,577 | 229 | 150,959 | |||||||||||
Equity: | |||||||||||||||
Beneficial Interest owned by third party | 6,404 | 30,315 | — | 36,719 | |||||||||||
Total liabilities and equity | $ | 33,557 | $ | 153,892 | $ | 229 | $ | 187,678 |
June 30, 2016 | |||||||||||
(dollar amounts in thousands) | Total Assets | Total Liabilities | Maximum Exposure to Loss | ||||||||
2015-1 Automobile Trust | $ | 5,203 | $ | — | $ | 5,203 | |||||
2012-2 Automobile Trust | 147 | — | 147 | ||||||||
Trust Preferred Securities | 13,919 | 317,122 | — | ||||||||
Low Income Housing Tax Credit Partnerships | 452,526 | 210,297 | 452,526 | ||||||||
Other Investments | 62,564 | 24,586 | 62,564 | ||||||||
Total | $ | 534,359 | $ | 552,005 | $ | 520,440 |
December 31, 2015 | |||||||||||
(dollar amounts in thousands) | Total Assets | Total Liabilities | Maximum Exposure to Loss | ||||||||
2015-1 Automobile Trust | $ | 7,695 | $ | — | $ | 7,695 | |||||
2012-1 Automobile Trust | 94 | — | 94 | ||||||||
2012-2 Automobile Trust | 771 | — | 771 | ||||||||
Trust Preferred Securities | 13,919 | 317,106 | — | ||||||||
Low Income Housing Tax Credit Partnerships | 425,500 | 196,001 | 425,500 | ||||||||
Other Investments | 68,746 | 25,762 | 68,746 | ||||||||
Total | $ | 516,725 | $ | 538,869 | $ | 502,806 |
(dollar amounts in thousands) | Rate | Principal amount of subordinated note/ debenture issued to trust (1) | Investment in unconsolidated subsidiary | |||||||
Huntington Capital I | 1.34 | % | (2) | $ | 111,816 | $ | 6,186 | |||
Huntington Capital II | 1.28 | (3) | 54,593 | 3,093 | ||||||
Sky Financial Capital Trust III | 2.03 | (4) | 72,165 | 2,165 | ||||||
Sky Financial Capital Trust IV | 2.03 | (4) | 74,320 | 2,320 | ||||||
Camco Financial Trust | 3.09 | (5) | 4,228 | 155 | ||||||
Total | $ | 317,122 | $ | 13,919 |
(1) | Represents the principal amount of debentures issued to each trust, including unamortized original issue discount. |
(2) | Variable effective rate at June 30, 2016, based on three-month LIBOR +0.70%. |
(3) | Variable effective rate at June 30, 2016, based on three-month LIBOR +0.625%. |
(4) | Variable effective rate at June 30, 2016, based on three-month LIBOR +1.40%. |
(5) | Variable effective rate (including impact of purchase accounting accretion) at June 30, 2016, based on three-month LIBOR +1.33%. |
(dollar amounts in thousands) | June 30, 2016 | December 31, 2015 | |||||
Affordable housing tax credit investments | $ | 725,193 | $ | 674,157 | |||
Less: amortization | (272,667 | ) | (248,657 | ) | |||
Net affordable housing tax credit investments | $ | 452,526 | $ | 425,500 | |||
Unfunded commitments | $ | 210,297 | $ | 196,001 |
Three Months Ended June 30, | Six months ended June 30, | |||||||||||||||
(dollar amounts in thousands) | 2016 | 2015 | 2016 | 2015 | ||||||||||||
Tax credits and other tax benefits recognized | $ | 18,150 | $ | 14,434 | $ | 36,434 | $ | 30,181 | ||||||||
Proportional amortization method | ||||||||||||||||
Tax credit amortization expense included in provision for income taxes | 12,499 | 11,218 | 24,905 | 22,292 | ||||||||||||
Equity method | ||||||||||||||||
Tax credit investment (gains) losses included in non-interest income | 132 | 147 | 264 | 294 |
(dollar amounts in thousands) | June 30, 2016 | December 31, 2015 | |||||
Contract amount represents credit risk: | |||||||
Commitments to extend credit | |||||||
Commercial | $ | 11,629,835 | $ | 11,448,927 | |||
Consumer | 9,088,181 | 8,574,093 | |||||
Commercial real estate | 887,138 | 813,271 | |||||
Standby letters-of-credit | 478,333 | 511,706 | |||||
Commercial letters-of-credit | 29,776 | 56,119 |
Three Months Ended June 30, | |||||||||||||||||||||||||||
Income Statements | Retail & Business Banking | Commercial Banking | AFCRE | RBHPCG | Home Lending | Treasury/Other | Huntington Consolidated | ||||||||||||||||||||
(dollar amounts in thousands) | |||||||||||||||||||||||||||
2016 | |||||||||||||||||||||||||||
Net interest income | $ | 270,745 | $ | 101,760 | $ | 95,602 | $ | 40,502 | $ | 14,417 | $ | (17,145 | ) | $ | 505,881 | ||||||||||||
Provision (reduction in allowance) for credit losses | 21,549 | (5,194 | ) | 9,726 | (1,021 | ) | (551 | ) | — | 24,509 | |||||||||||||||||
Noninterest income | 128,903 | 64,918 | 10,589 | 27,588 | 22,321 | 16,793 | 271,112 | ||||||||||||||||||||
Noninterest expense | 279,286 | 92,121 | 42,331 | 50,863 | 26,455 | 32,605 | 523,661 | ||||||||||||||||||||
Income taxes | 34,585 | 27,913 | 18,947 | 6,387 | 3,792 | (37,341 | ) | 54,283 | |||||||||||||||||||
Net income | $ | 64,228 | $ | 51,838 | $ | 35,187 | $ | 11,861 | $ | 7,042 | $ | 4,384 | $ | 174,540 | |||||||||||||
2015 | |||||||||||||||||||||||||||
Net interest income | $ | 256,921 | $ | 94,397 | $ | 95,042 | $ | 27,751 | $ | 16,353 | $ | 222 | $ | 490,686 | |||||||||||||
Provision (reduction in allowance) for credit losses | 19,401 | (3,027 | ) | 3,498 | 1,596 | (1,049 | ) | — | 20,419 | ||||||||||||||||||
Noninterest income | 112,938 | 70,361 | 11,574 | 37,964 | 31,976 | 16,960 | 281,773 | ||||||||||||||||||||
Noninterest expense | 260,487 | 76,373 | 37,855 | 63,221 | 41,639 | 12,202 | 491,777 | ||||||||||||||||||||
Income taxes | 31,490 | 31,994 | 22,842 | 314 | 2,709 | (25,292 | ) | 64,057 | |||||||||||||||||||
Net income | $ | 58,481 | $ | 59,418 | $ | 42,421 | $ | 584 | $ | 5,030 | $ | 30,272 | $ | 196,206 |
Six months ended June 30, | |||||||||||||||||||||||||||
Income Statements | Retail & Business Banking | Commercial Banking | AFCRE | RBHPCG | Home Lending | Treasury/Other | Huntington Consolidated | ||||||||||||||||||||
(dollar amounts in thousands) | |||||||||||||||||||||||||||
2016 | |||||||||||||||||||||||||||
Net interest income | $ | 535,433 | $ | 202,623 | $ | 191,171 | $ | 79,781 | $ | 27,433 | $ | (27,494 | ) | $ | 1,008,947 | ||||||||||||
Provision (reduction in allowance) for credit losses | 33,745 | 29,562 | (6,891 | ) | (1,500 | ) | (2,825 | ) | — | 52,091 | |||||||||||||||||
Noninterest income | 246,462 | 123,499 | 17,840 | 55,395 | 33,971 | 35,812 | 512,979 | ||||||||||||||||||||
Noninterest expense | 552,530 | 182,549 | 82,534 | 100,860 | 52,063 | 44,205 | 1,014,741 | ||||||||||||||||||||
Income taxes | 68,467 | 39,904 | 46,679 | 12,536 | 4,258 | (62,604 | ) | 109,240 | |||||||||||||||||||
Net income | $ | 127,153 | $ | 74,107 | $ | 86,689 | $ | 23,280 | $ | 7,908 | $ | 26,717 | $ | 345,854 | |||||||||||||
2015 | |||||||||||||||||||||||||||
Net interest income | $ | 505,571 | $ | 169,315 | $ | 190,204 | $ | 54,575 | $ | 31,630 | $ | 7,076 | $ | 958,371 | |||||||||||||
Provision for credit losses | 26,553 | 3,808 | 2,115 | 4,240 | 4,294 | — | 41,010 | ||||||||||||||||||||
Noninterest income | 208,696 | 125,254 | 16,249 | 78,388 | 50,634 | 34,175 | 513,396 | ||||||||||||||||||||
Noninterest expense | 516,851 | 132,790 | 74,033 | 121,849 | 77,427 | 27,684 | 950,634 | ||||||||||||||||||||
Income taxes | 59,802 | 55,290 | 45,607 | 2,406 | 190 | (45,232 | ) | 118,063 | |||||||||||||||||||
Net income | $ | 111,061 | $ | 102,681 | $ | 84,698 | $ | 4,468 | $ | 353 | $ | 58,799 | $ | 362,060 |
Assets at | Deposits at | ||||||||||||||
(dollar amounts in thousands) | June 30, 2016 | December 31, 2015 | June 30, 2016 | December 31, 2015 | |||||||||||
Retail & Business Banking | $ | 15,977,841 | $ | 15,746,086 | $ | 31,095,956 | $ | 30,875,607 | |||||||
Commercial Banking | 17,947,824 | 17,022,387 | 10,353,358 | 11,424,778 | |||||||||||
AFCRE | 20,942,630 | 17,856,368 | 1,692,868 | 1,651,702 | |||||||||||
RBHPCG | 4,476,036 | 4,291,403 | 8,161,115 | 7,690,581 | |||||||||||
Home Lending | 3,464,385 | 3,080,690 | 335,403 | 361,881 | |||||||||||
Treasury / Other | 11,145,301 | 13,021,367 | 3,404,765 | 3,290,430 | |||||||||||
Total | $ | 73,954,017 | $ | 71,018,301 | $ | 55,043,465 | $ | 55,294,979 |
Exhibit Number | Document Description | Report or Registration Statement | SEC File or Registration Number | Exhibit Reference | ||||||
2.1 | Agreement and Plan of Merger, dated as of January 25, 2016, by and among Huntington Bancshares Incorporated, FirstMerit Corporation, and West Subsidiary Corporation. | Current Report on Form 8-K dated January 28, 2016. | 001-34073 | 2.1 | ||||||
3.1 | Articles of Restatement of Charter. | Annual Report on Form 10-K for the year ended December 31, 1993 | 000-02525 | 3 | (i) | |||||
3.2 | Articles of Amendment to Articles of Restatement of Charter. | Current Report on Form 8-K dated May 31, 2007 | 000-02525 | 3.1 | ||||||
3.3 | Articles of Amendment to Articles of Restatement of Charter. | Current Report on Form 8-K dated May 7, 2008 | 000-02525 | 3.1 | ||||||
3.4 | Articles of Amendment to Articles of Restatement of Charter. | Current Report on Form 8-K dated April 27, 2010 | 001-34073 | 3.1 | ||||||
3.5 | Articles Supplementary of Huntington Bancshares Incorporated, as of April 22, 2008. | Current Report on Form 8-K dated April 22, 2008 | 000-02525 | 3.1 | ||||||
3.6 | Articles Supplementary of Huntington Bancshares Incorporated, as of April 22. 2008. | Current Report on Form 8-K dated April 22, 2008 | 000-02525 | 3.2 | ||||||
3.7 | Articles Supplementary of Huntington Bancshares Incorporated, as of November 12, 2008. | Current Report on Form 8-K dated November 12, 2008 | 001-34073 | 3.1 | ||||||
3.8 | Articles Supplementary of Huntington Bancshares Incorporated, as of December 31, 2006. | Annual Report on Form 10-K for the year ended December 31, 2006 | 000-02525 | 3.4 | ||||||
3.9 | Articles Supplementary of Huntington Bancshares Incorporated, as of December 28, 2011. | Current Report on Form 8-K dated December 28, 2011. | 001-34073 | 3.1 | ||||||
3.10 | Articles Supplementary of Huntington Bancshares Incorporated, as of March 18, 2016. | Current Report on Form 8-K dated March 21, 2016. | 001-34073 | 3.1 | ||||||
3.11 | Articles Supplementary of Huntington Bancshares Incorporated, as of May 3, 2016. | Current Report on Form 8-K dated May 5, 2016. | 001-34073 | 3.2 | ||||||
3.12 | Bylaws of Huntington Bancshares Incorporated, as amended and restated, as of July 16, 2014. | Current Report on Form 8-K dated July 17, 2014 | 001-34073 | 3.1 | ||||||
4.1 | Instruments defining the Rights of Security Holders—reference is made to Articles Fifth, Eighth, and Tenth of Articles of Restatement of Charter, as amended and supplemented. Instruments defining the rights of holders of long-term debt will be furnished to the Securities and Exchange Commission upon request. | |||||||||
10.1 | *Huntington Bancshares Incorporated Management Incentive Plan for Covered Officers | Definitive Proxy Statement for the 2016 Annual Meeting of Shareholders | 001-34073 | A | ||||||
10.2 | * Form of 2016 Stock Option Grant Agreement | |||||||||
10.3 | * Form of 2016 Restricted Stock Unit Grant Agreement | |||||||||
10.4 | * Form of 2016 Performance Share Unit Grant Agreement | |||||||||
31.1 | **Rule 13a-14(a) Certification – Chief Executive Officer. | |||||||||
31.2 | **Rule 13a-14(a) Certification – Chief Financial Officer. | |||||||||
32.1 | ***Section 1350 Certification – Chief Executive Officer. | |||||||||
32.2 | ***Section 1350 Certification – Chief Financial Officer. | |||||||||
101 | **The following material from Huntington’s Form 10-Q Report for the quarterly period ended June 30, 2016, formatted in XBRL: (1) Unaudited Condensed Consolidated Balance Sheets, (2) Unaudited Condensed Consolidated Statements of Income, (3) Unaudited Condensed Consolidated Statements of Comprehensive Income (4) Unaudited Condensed Consolidated Statement of Changes in Shareholders’ Equity, (5) Unaudited Condensed Consolidated Statements of Cash Flows, and (6) the Notes to Unaudited Condensed Consolidated Financial Statements. |
* | Denotes management contract or compensatory plan or arrangement |
** | Filed herewith |
*** | Furnished herewith |
Date: | July 29, 2016 | /s/ Stephen D. Steinour | |
Stephen D. Steinour | |||
Chairman, Chief Executive Officer and President | |||
Date: | July 29, 2016 | /s/ Howell D. McCullough III | |
Howell D. McCullough III | |||
Chief Financial Officer |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
1. | Grant of Options. |
2. | Vesting Provisions. |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
3. | Forfeiture Provisions. |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
(1) | within 12 months after a Change in Control occurs, the Employee’s service has been terminated by the Company (provided that such termination is for a reason other than for Cause); or |
(2) | the Company previously terminated the Employee’s service without Cause (i) during the year before the Change in Control was consummated, but (ii) after a third party or the Company had taken steps reasonably calculated to effect a Change in Control. In addition to items (i)-(ii) above, the Employee also must reasonably demonstrate that such termination of service was in connection with or in anticipation of the Change in Control. |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
1. | Solicit, encourage, or induce any person employed by the Company, or attempt to solicit, encourage or induce any person employed by the Company, to terminate his or her employment with the Company or to seek or accept employment with any other person or entity; or |
2. | Contact or attempt to contact any customer or prospective customer of the Company for whom the Employee performed any services or had any direct or indirect business contact for the purposes of identifying his or her new association or his or her change of employment or current affiliation; or |
3. | Contact any customer of the Company for whom the Employee performed any services or had any direct or indirect business contact for the purpose of soliciting, influencing, enticing, attempting to divert, or inducing any such customers to obtain any product or service offered by the Company from any person or entity other than the Company; or |
4. | Contact any customer or prospective customer of the Company whose identity or other customer specific information the Employee obtained or gained access to as an employee of Company for the purpose of soliciting, influencing, enticing, attempting to divert, or inducing any such customers or prospective customers to obtain any product or service provided by the Company from any person or entity other than the Company; or |
5. | Accept or provide assistance in the accepting of business from any customers or any prospective customers of the Company for whom the Employee performed any services or had any direct or indirect business contact, or whose identity or other customer specific information the Employee obtained or gained access to as an employee of the Company. |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Chairman, President, and Chief Executive Officer | Date |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
1. | Grant of Restricted Stock Units. |
2. | Employee RSU Account. |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
3. | Vesting Provisions. |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
4. | Forfeiture Provisions. |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
5. | Change in Control. |
6. | Issuance of Stock. |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
7. | Election to Defer Receipt of Shares. |
8. | Withholding Taxes. |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
9. | Non-transferability of Grant. |
10. | Employee’s Rights Unsecured. |
11. | No Voting Rights as Stockholder. |
12. | Dividends. |
13. | Capital Adjustment Provisions. |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
14. | Securities Law Compliance. |
15. | Plan Governs. |
16. | No Right to Continued Employment. |
17. | Addresses for Notices. |
18. | Captions. |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
19. | Notice Severable. |
20. | Expenses. |
21. | Governing Law / Compliance with Applicable Law. |
22. | Entire Notice; Amendment; Code Section 409A Provisions. |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
1. | Solicit, encourage, or induce any person employed by the Company, or attempt to solicit, encourage or induce any person employed by the Company, to terminate his or her employment with the Company or to seek or accept employment with any other person or entity; or |
2. | Contact or attempt to contact any customer or prospective customer of the Company for whom the Employee performed any services or had any direct or indirect business contact for the purposes of identifying his or her new association or his or her change of employment or current affiliation; or |
3. | Contact any customer of the Company for whom the Employee performed any services or had any direct or indirect business contact for the purpose of soliciting, influencing, enticing, attempting to divert, or inducing any such customers to obtain any product or service offered by the Company from any person or entity other than the Company; or |
4. | Contact any customer or prospective customer of the Company whose identity or other customer specific information the Employee obtained or gained access to as an employee of Company for the purpose of soliciting, influencing, enticing, attempting to divert, or inducing any such customers or prospective customers to obtain any product or service provided by the Company from any person or entity other than the Company; or |
5. | Accept or provide assistance in the accepting of business from any customers or any prospective customers of the Company for whom the Employee performed any services or had any direct or indirect business contact, or whose identity or other customer specific information the Employee obtained or gained access to as an employee of the Company. |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Chairman, President, and Chief Executive Officer | Date |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
1. | Solicit, encourage, or induce any person employed by the Company, or attempt to solicit, encourage or induce any person employed by the Company, to terminate his or her employment with the Company or to seek or accept employment with any other person or entity; or |
2. | Contact or attempt to contact any customer or prospective customer of the Company for whom the Employee performed any services or had any direct or indirect business contact for the purposes of identifying his or her new association or his or her change of employment or current affiliation; or |
3. | Contact any customer of the Company for whom the Employee performed any services or had any direct or indirect business contact for the purpose of soliciting, influencing, enticing, attempting to divert, or inducing any such customers to obtain any product or service offered by the Company from any person or entity other than the Company; or |
4. | Contact any customer or prospective customer of the Company whose identity or other customer specific information the Employee obtained or gained access to as an employee of Company for the purpose of soliciting, influencing, enticing, attempting to divert, or inducing any such customers or prospective customers to obtain any product or service provided by the Company from any person or entity other than the Company; or |
5. | Accept or provide assistance in the accepting of business from any customers or any prospective customers of the Company for whom the Employee performed any services or had any direct or indirect business contact, or whose identity or other customer specific information the Employee obtained or gained access to as an employee of the Company. |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Huntington Bancshares Incorporated Stock Option Grant Agreement |
Chairman, President, and Chief Executive Officer | Date |
1. | I have reviewed this Quarterly Report on Form 10-Q of Huntington Bancshares Incorporated; |
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 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. |
Date: | July 29, 2016 | |||
/s/ | Stephen D. Steinour | |||
Stephen D. Steinour | ||||
Chief Executive Officer |
1. | I have reviewed this Quarterly Report on Form 10-Q of Huntington Bancshares Incorporated; |
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: |
5. | 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; |
a) | 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; |
b) | 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 |
c) | disclosed in this report any change in the registrant’s internal control over financial reporting that 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 |
6. | 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. |
Date: | July 29, 2016 | |||
/s/ | Howell D. McCullough III | |||
Howell D. McCullough III | ||||
Chief Financial Officer |
(1) | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
(2) | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
/s/ | Stephen D. Steinour | |
Stephen D. Steinour | ||
Chief Executive Officer | ||
July 29, 2016 |
(1) | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
(2) | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
/s/ | Howell D. McCullough III | |
Howell D. McCullough III | ||
Chief Financial Officer | ||
July 29, 2016 |
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Document and Entity Information |
6 Months Ended |
---|---|
Jun. 30, 2016
shares
| |
Document and Entity Information [Abstract] | |
Entity Registrant Name | HUNTINGTON BANCSHARES INC/MD |
Entity Central Index Key | 0000049196 |
Document Type | 10-Q |
Document Period End Date | Jun. 30, 2016 |
Amendment Flag | false |
Document Fiscal Year Focus | 2016 |
Document Fiscal Period Focus | Q2 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding (in shares) | 799,153,996 |
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Assets | ||
Loans held for sale, fair value | $ 614,626 | $ 337,577 |
Loans and leases, fair value | $ 37,903 | $ 34,637 |
Shareholders’ equity | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Interest and fee income: | ||||
Loans and leases | $ 469,770 | $ 436,564 | $ 933,192 | $ 857,177 |
Available-for-sale and other securities | ||||
Taxable | 40,992 | 51,525 | 80,606 | 99,381 |
Tax-exempt | 13,795 | 10,319 | 26,814 | 19,605 |
Held-to-maturity securities—taxable | 35,420 | 20,742 | 72,209 | 41,408 |
Other | 5,681 | 10,645 | 10,088 | 14,320 |
Total interest income | 565,658 | 529,795 | 1,122,909 | 1,031,891 |
Interest expense: | ||||
Deposits | 22,324 | 19,865 | 45,342 | 39,433 |
Short-term borrowings | 913 | 731 | 1,811 | 1,273 |
Federal Home Loan Bank advances | 72 | 71 | 141 | 447 |
Subordinated notes and other long-term debt | 36,468 | 18,442 | 66,668 | 32,367 |
Total interest expense | 59,777 | 39,109 | 113,962 | 73,520 |
Net interest income | 505,881 | 490,686 | 1,008,947 | 958,371 |
Provision for credit losses | 24,509 | 20,419 | 52,091 | 41,010 |
Net interest income after provision for credit losses | 481,372 | 470,267 | 956,856 | 917,361 |
Service charges on deposit accounts | 75,613 | 70,118 | 145,875 | 132,338 |
Cards and payment processing income | 39,184 | 35,886 | 75,631 | 68,457 |
Mortgage banking income | 31,591 | 38,518 | 50,134 | 61,479 |
Trust services | 22,497 | 26,550 | 45,335 | 55,589 |
Insurance income | 15,947 | 17,637 | 32,172 | 33,532 |
Brokerage income | 14,599 | 15,184 | 30,101 | 30,684 |
Capital markets fees | 13,037 | 13,192 | 26,047 | 27,097 |
Bank owned life insurance income | 12,536 | 13,215 | 26,049 | 26,240 |
Gain on sale of loans | 9,265 | 12,453 | 14,660 | 17,042 |
Net gains on sales of securities | 732 | 82 | 732 | 82 |
Other noninterest income | 36,187 | 38,938 | 66,319 | 60,856 |
Total noninterest income | 271,112 | 281,773 | 512,979 | 513,396 |
Personnel costs | 298,949 | 282,135 | 584,346 | 547,051 |
Outside data processing and other services | 63,037 | 58,508 | 124,915 | 109,043 |
Equipment | 31,805 | 31,694 | 64,381 | 61,943 |
Net occupancy | 30,704 | 28,861 | 62,180 | 59,881 |
Marketing | 14,773 | 15,024 | 27,041 | 27,999 |
Professional services | 21,488 | 12,593 | 35,026 | 25,320 |
Deposit and other insurance expense | 12,187 | 11,787 | 23,395 | 21,954 |
Amortization of intangibles | 3,600 | 9,960 | 7,312 | 20,166 |
Other noninterest expense | 47,118 | 41,215 | 86,145 | 77,277 |
Total noninterest expense | 523,661 | 491,777 | 1,014,741 | 950,634 |
Income before income taxes | 228,823 | 260,263 | 455,094 | 480,123 |
Provision for income taxes | 54,283 | 64,057 | 109,240 | 118,063 |
Net income | 174,540 | 196,206 | 345,854 | 362,060 |
Dividends on preferred shares | 19,874 | 7,968 | 27,872 | 15,933 |
Net income applicable to common shares | $ 154,666 | $ 188,238 | $ 317,982 | $ 346,127 |
Average common shares—basic (in shares) | 798,167 | 806,891 | 796,961 | 808,335 |
Average common shares—diluted (in shares) | 810,371 | 820,238 | 809,360 | 822,023 |
Per common share: | ||||
Net income—basic (in usd per share) | $ 0.19 | $ 0.23 | $ 0.40 | $ 0.43 |
Net income—diluted (in usd per share) | 0.19 | 0.23 | 0.39 | 0.42 |
Cash dividends declared (in usd per share) | $ 0.07 | $ 0.06 | $ 0.14 | $ 0.12 |
OTTI losses for the periods presented: | ||||
Total OTTI losses | $ (76) | $ 0 | $ (3,809) | $ 0 |
Noncredit-related portion of loss recognized in OCI | 0 | 0 | 3,733 | 0 |
Impairment losses recognized in earnings on available-for-sale securities | $ (76) | $ 0 | $ (76) | $ 0 |
Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 174,540 | $ 196,206 | $ 345,854 | $ 362,060 |
Unrealized gains on available-for-sale and other securities: | ||||
Non-credit-related impairment recoveries (losses) on debt securities not expected to be sold | 667 | 8,720 | (1,682) | 12,110 |
Unrealized net gains (losses) on available-for-sale and other securities arising during the period, net of reclassification for net realized gains and losses | 30,603 | (33,812) | 82,154 | 5,140 |
Total unrealized gains (losses) on available-for-sale securities | 31,270 | (25,092) | 80,472 | 17,250 |
Unrealized gains (losses) on cash flow hedging derivatives, net of reclassifications to income | 1,134 | (629) | 9,963 | 17,586 |
Change in accumulated unrealized losses for pension and other post-retirement obligations | 840 | 903 | 1,681 | 1,806 |
Other comprehensive income (loss), net of tax | 33,244 | (24,818) | 92,116 | 36,642 |
Comprehensive income | $ 207,784 | $ 171,388 | $ 437,970 | $ 398,702 |
Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands |
Total |
Common Stock |
Capital Surplus |
Treasury Stock |
Accumulated Other Comprehensive Loss |
Retained Earnings (Deficit) |
Preferred Stock |
Series A Preferred Stock |
Series A Preferred Stock
Retained Earnings (Deficit)
|
Series B Preferred Stock |
Series B Preferred Stock
Retained Earnings (Deficit)
|
Series D Preferred Stock |
Series D Preferred Stock
Retained Earnings (Deficit)
|
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Balance, beginning of period (in shares) at Dec. 31, 2014 | (813,136) | (1,682) | |||||||||||
Balance, beginning of period at Dec. 31, 2014 | $ 6,328,170 | $ 8,131 | $ 7,221,745 | $ (13,382) | $ (222,292) | $ (1,052,324) | $ 386,292 | ||||||
Comprehensive Income: | |||||||||||||
Net income | 362,060 | 362,060 | |||||||||||
Other comprehensive income (loss) | $ 36,642 | 36,642 | |||||||||||
Repurchase of common stock (in shares) | (13,800) | (13,783) | |||||||||||
Repurchase of common stock | $ (150,847) | $ (138) | (150,709) | ||||||||||
Cash dividends declared: | |||||||||||||
Common stock, dividend | (96,732) | (96,732) | |||||||||||
Preferred stock, dividend | (15,407) | $ (15,407) | $ (526) | $ (526) | |||||||||
Recognition of the fair value of share-based compensation | 25,573 | 25,573 | |||||||||||
Other share-based compensation activity (in shares) | 5,642 | ||||||||||||
Other share-based compensation activity | (10,349) | $ (57) | (12,227) | (1,935) | |||||||||
Other (in shares) | 41 | (288) | |||||||||||
Other | (3,024) | $ 0 | 657 | $ (3,661) | (20) | ||||||||
Balance, end of period (in shares) at Jun. 30, 2015 | (805,036) | (1,970) | |||||||||||
Balance, end of period at Jun. 30, 2015 | 6,496,258 | $ 8,050 | 7,109,493 | $ (17,043) | (185,650) | (804,884) | 386,292 | ||||||
Balance, beginning of period (in shares) at Dec. 31, 2015 | (796,970) | (2,041) | |||||||||||
Balance, beginning of period at Dec. 31, 2015 | 6,594,606 | $ 7,970 | 7,038,502 | $ (17,932) | (226,158) | (594,067) | 386,291 | ||||||
Comprehensive Income: | |||||||||||||
Net income | 345,854 | 345,854 | |||||||||||
Other comprehensive income (loss) | 92,116 | 92,116 | |||||||||||
Stock Issued During Period, Value, New Issues | 584,987 | $ 584,987 | |||||||||||
Cash dividends declared: | |||||||||||||
Common stock, dividend | (111,735) | (111,735) | |||||||||||
Preferred stock, dividend | $ (15,407) | $ (15,407) | $ (590) | $ (590) | $ (11,875) | $ (11,875) | |||||||
Recognition of the fair value of share-based compensation | 27,799 | 27,799 | |||||||||||
Other share-based compensation activity (in shares) | 4,559 | ||||||||||||
Other share-based compensation activity | (4,913) | $ (45) | (7,872) | (3,004) | |||||||||
Other (in shares) | 334 | ||||||||||||
Other | (3,364) | 76 | $ (3,426) | (14) | |||||||||
Balance, end of period (in shares) at Jun. 30, 2016 | (801,529) | (2,375) | |||||||||||
Balance, end of period at Jun. 30, 2016 | $ 7,507,304 | $ 8,015 | $ 7,074,249 | $ (21,358) | $ (134,042) | $ (390,838) | $ 971,278 |
Condensed Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares |
6 Months Ended | |
---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Cash dividends declared: | ||
Common stock, Cash dividend per share (in usd per share) | $ 0.14 | $ 0.12 |
Series A Preferred Stock | ||
Cash dividends declared: | ||
Preferred stock dividend per share (in usd per share) | 42.5 | 42.50 |
Series B Preferred Stock | ||
Cash dividends declared: | ||
Preferred stock dividend per share (in usd per share) | 16.63 | $ 14.85 |
Series D Preferred Stock | ||
Cash dividends declared: | ||
Preferred stock dividend per share (in usd per share) | $ 19.79 |
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Operating activities | ||
Net income | $ 345,854 | $ 362,060 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for credit losses | 52,091 | 41,010 |
Depreciation and amortization | 208,249 | 167,957 |
Share-based compensation expense | 27,799 | 25,573 |
Gain (Loss) on Sale of Investments | 656 | 82 |
Net change in: | ||
Trading account securities | 1,708 | (16,955) |
Loans held for sale | (307,880) | (242,111) |
Accrued income and other assets | (97,334) | (175,467) |
Deferred income taxes | (6,864) | 24,138 |
Accrued expense and other liabilities | 70,554 | (84,512) |
Other, net | 6,883 | 15,516 |
Net cash provided by (used for) operating activities | 286,638 | 86,095 |
Investing activities | ||
Change in interest bearing deposits in banks | 6,942 | (6,850) |
Cash paid for acquisition of a business, net of cash received | 0 | 457,836 |
Proceeds from: | ||
Maturities and calls of available-for-sale and other securities | 467,633 | 916,486 |
Maturities of held-to-maturity securities | 495,645 | 288,706 |
Proceeds from Sale of Available-for-sale Securities | 170,986 | 20,126 |
Purchases of available-for-sale and other securities | (1,405,035) | (1,798,749) |
Purchases of held-to-maturity securities | 0 | (215,447) |
Proceeds from Securitizations of Loans Held-for-investment | 0 | 780,117 |
Net proceeds from sales of portfolio loans | 234,608 | 203,058 |
Net loan and lease activity, excluding sales and purchases | (2,220,929) | (1,172,432) |
Purchases of premises and equipment | (19,846) | (43,093) |
Proceeds from sales of other real estate | 13,290 | 21,025 |
Purchases of loans and leases | (341,985) | (58,341) |
Other, net | 2,698 | 1,327 |
Net cash provided by (used for) investing activities | (2,595,993) | (1,521,903) |
Financing activities | ||
Increase (decrease) in deposits | (256,333) | 1,821,169 |
Increase (decrease) in short-term borrowings | 1,335,888 | (888,979) |
Sale Of Deposits | 0 | 47,521 |
Net proceeds from issuance of long-term debt | 1,051,794 | 1,746,938 |
Maturity/redemption of long-term debt | (255,750) | (789,408) |
Dividends paid on preferred stock | (27,872) | (15,933) |
Dividends paid on common stock | (112,087) | (97,310) |
Repurchases of common stock | 0 | (150,847) |
Proceeds from stock options exercised | 3,887 | 6,517 |
Net proceeds from issuance of preferred stock | 584,987 | 0 |
Other, net | 4,865 | 10,586 |
Net cash provided by (used for) financing activities | 2,329,379 | 1,595,212 |
Increase (decrease) in cash and cash equivalents | 20,024 | 159,404 |
Cash and cash equivalents at beginning of period | 847,156 | 1,220,565 |
Cash and cash equivalents at end of period | 867,180 | 1,379,969 |
Supplemental disclosures: | ||
Interest paid | 3,099 | 67,381 |
Income taxes paid (refunded) | 107,428 | 87,986 |
Non-cash activities | ||
Loans transferred to held-for-sale from portfolio | 266,527 | 111,588 |
Loans transferred to portfolio from held-for-sale | 10,661 | 15,726 |
Transfer of loans to OREO | $ 12,974 | $ 13,028 |
BASIS OF PRESENTATION |
6 Months Ended |
---|---|
Jun. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION | BASIS OF PRESENTATION The accompanying Unaudited Condensed Consolidated Financial Statements of Huntington reflect all adjustments consisting of normal recurring accruals which are, in the opinion of Management, necessary for a fair presentation of the consolidated financial position, the results of operations, and cash flows for the periods presented. The year-end condensed consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP. These Unaudited Condensed Consolidated Financial Statements have been prepared according to the rules and regulations of the SEC and, therefore, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted. The Notes to Consolidated Financial Statements appearing in Huntington’s 2015 Form 10-K, which include descriptions of significant accounting policies, as updated by the information contained in this report, should be read in conjunction with these interim financial statements. For statement of cash flows purposes, cash and cash equivalents are defined as the sum of “Cash and due from banks” which includes amounts on deposit with the Federal Reserve and “Federal funds sold and securities purchased under resale agreements.” In conjunction with applicable accounting standards, all material subsequent events have been either recognized in the Unaudited Condensed Consolidated Financial Statements or disclosed in the Notes to Unaudited Condensed Consolidated Financial Statements. Certain prior period amounts have been reclassified to conform to the current year's presentation. Specifically, Huntington reclassified servicing assets from accrued income and other assets to disclose them as a separate line item on the balance sheets. In addition, debt issuance costs were reclassified to long-term debt from accrued income and other assets as part of adopting ASU 2015-03. |
ACCOUNTING STANDARDS UPDATE |
6 Months Ended |
---|---|
Jun. 30, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
ACCOUNTING STANDARDS UPDATE | ACCOUNTING STANDARDS UPDATE ASU 2014-09 - Revenue from Contracts with Customers (Topic 606): The amendments in ASU 2014-09 supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The general principle of the amendments require an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance sets forth a five step approach to be utilized for revenue recognition. The amendments were originally effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Subsequently, the FASB issued a one-year deferral for implementation, which results in new guidance being effective for annual and interim reporting periods beginning after December 15, 2017. The FASB, however, permitted adoption of the new guidance on the original effective date. Management is currently assessing the impact on Huntington’s Unaudited Condensed Consolidated Financial Statements. ASU 2015-02 - Consolidation (Topic 810): Amendments to the Consolidation Analysis. This Update provides a new scope exception for registered money market funds and similar unregistered money market funds, provides targeted amendments to the current consolidation guidance, and ends the deferral granted to investment companies from applying the variable interest entity accounting guidance. This amendment was effective during the current reporting period and did not have a significant impact on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2015-03 - Imputation of Interest (Topic 835): Simplifying the Presentation of Debt Issuance Costs. This Update was issued to simplify the presentation of debt issuance costs. The amendments require debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction to the carrying amount of that debt liability, consistent with debt discounts. The amendment was effective during the current reporting period. Amounts reclassified in the prior periods were immaterial to Huntington’s Unaudited Condensed Consolidated Financial Statements. For more information, refer to Note 8 “Long-Term Debt”. ASU 2015-10 - Technical Corrections and Improvements. This Update sets forth certain technical corrections and improvements issued in June 2015 with an objective to clarify the Accounting Standards Codification (“Codification”), correct unintended application of guidance, or make minor improvements to the ASU, among other things, requires disclosure of fair value for non-recurring items at the relevant measurement date where the fair value is not measured at the end of the reporting period. Also, for nonrecurring measurements estimated at a date during the reporting period other than the end of the reporting period, a reporting entity is required to clearly indicate that the fair value information presented is not as of the period’s end. The technical correction for fair value disclosure was effective upon issuance and did not have a significant impact on Huntington’s Unaudited Condensed Consolidated Financial Statements. ASU 2015-16 - Simplifying the Accounting for Measurement-Period Adjustments. This Update requires an acquirer to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The acquirer is required to record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The amendments also require an entity to present separately on the face of the income statement, or disclose in the notes, the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. This Update was effective for the current reporting period and did not have a significant impact on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2016-01 - Recognition and Measurement of Financial Assets and Financial Liabilities. This Update sets forth targeted improvements to GAAP including, but not limited to, requiring an entity to recognize the changes in fair value of equity investments in the income statement, requiring public business entities to use the exit price when measuring the fair value of financial instruments for financial statement disclosure purposes, eliminating certain disclosures required by existing GAAP, and providing for additional disclosures. The Update is effective for the fiscal period beginning after December 15, 2017, including interim periods within those fiscal years. A cumulative-effect adjustment to the balance sheet will be required as of the beginning of the fiscal year upon adoption. The Update is not expected to have a significant impact on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2016-02 - Leases. This Update sets forth a new lease accounting model for lessors and lessees. For lessees, all leases will be required to be recognized on the balance sheet by recording a right-of-use asset. Subsequent accounting for leases varies depending on whether the lease is an operating lease or a finance lease. The accounting applied by a lessor is largely unchanged from that applied under the existing guidance. The ASU requires additional qualitative and quantitative disclosures with the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The Update is effective for the fiscal period beginning after December 15, 2018, with early application permitted. Management is currently assessing the impact of the new guidance on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2016-05 - Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships. This Update provides accounting clarification for changes in the counterparty to a derivative instrument that has been designated as a qualified hedging instrument. Specifically, changes in the derivative counterparty should not, in and of itself, require de-designation of that hedging relationship provided that all other hedge accounting criteria continue to be met. This Update is effective for financial statements issued for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early application is permitted. An entity has an option to apply the amendments in this Update on either a prospective basis or a modified retrospective basis. Management does not believe the new guidance will have a significant impact on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2016-06 - Contingent Put and Call Options in Debt Instruments. This Update clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt instruments. An entity performing the assessment set forth in this Update will be required to assess embedded call (put) options solely in accordance with the four-step decision sequence. This Update is effective for financial statements issued for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early adoption is permitted. An entity should apply this Update on a modified retrospective basis to existing debt instruments as of the beginning of the fiscal year for which the amendments are effective. This Update is not expected to have a significant impact on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2016-07 - Simplifying the Transition to the Equity Method of Accounting. This Update eliminates the requirement for the retrospective use of the equity method of accounting as a result of an increase in the level of ownership interest or degree of influence of an investor. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for the equity method accounting. This Update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The amendments are not expected to have a significant impact on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2016-09 - Improvements to Employee Share-Based Payment Accounting. This Update simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification in the statement of cash flows. The amendments, among other things, require all tax benefits and tax deficiencies related to share-based award to be recognized in the income statement. Other changes include an election related to the accounting for forfeitures, changes to the cash flow statement presentation for excess tax benefits, as well as for cash paid by an employer when directly withholding shares for tax withholding purposes. The amendments are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted for any entity in any interim or annual period. Management is currently assessing the impact of this Update on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2016-13 - Financial Instruments - Credit Losses. The amendments in this Update eliminate the probable initial recognition threshold for credit losses on financial assets measured at amortized cost basis. The Update requires those financial assets to be presented at the net amount expected to be collected (i.e., net of expected credit losses). The measurement of expected credit losses should be based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount. The Update is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018. The amendments should be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. Management is currently assessing the impact of this Update on Huntington's Unaudited Condensed Consolidated Financial Statements. |
BUSINESS COMBINATIONS |
6 Months Ended |
---|---|
Jun. 30, 2016 | |
Business Combinations [Abstract] | |
BUSINESS COMBINATIONS | PENDING ACQUISITION OF FIRSTMERIT CORPORATION On January 26, 2016, Huntington announced the signing of a definitive merger agreement under which Ohio-based FirstMerit Corporation, the parent company of FirstMerit Bank, will merge into Huntington in a stock and cash transaction valued at approximately $3.4 billion based on the closing stock price on the day preceding the announcement. FirstMerit Corporation is a diversified financial services company headquartered in Akron, Ohio, which reported assets of approximately $25.5 billion based on their December 31, 2015 balance sheet. Under the terms of the agreement, shareholders of FirstMerit Corporation will receive 1.72 shares of Huntington common stock, and $5.00 in cash, for each share of FirstMerit Corporation common stock. The transaction is expected to be completed in the 2016 third quarter, subject to the satisfaction of customary closing conditions, including regulatory approvals. On June 13, 2016, Huntington and FirstMerit announced that the shareholders of Huntington had approved the Huntington Stock Issuance Proposal and that the shareholders of FirstMerit had approved the Merger Agreement. In connection with proposed merger, Huntington and FirstMerit announced the divestiture of 13 Ohio branches primarily in the Canton and Ashtabula markets to First Commonwealth Bank. On July 29, 2016, Huntington received regulatory approval from the Board of Governors of the Federal Reserve System. We continue to expect that the transaction will be completed in the 2016 third quarter, subject to the satisfaction of customary closing conditions, including OCC approval of the bank merger. |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES |
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LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES | LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES Loans and leases for which Huntington has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are classified in the Unaudited Condensed Consolidated Balance Sheets as loans and leases. Except for loans which are accounted for at fair value, loans are carried at the principal amount outstanding, net of unamortized premiums and discounts and deferred loan fees and costs, which resulted in a net premium of $270 million and $262 million at June 30, 2016 and December 31, 2015, respectively. Loan and Lease Portfolio Composition The following table provides a detailed listing of Huntington’s loan and lease portfolio at June 30, 2016 and December 31, 2015:
As shown in the table above, the primary loan and lease portfolios are: C&I, CRE, automobile, home equity, residential mortgage, and other consumer. For ACL purposes, these portfolios are further disaggregated into classes. The classes within each portfolio are as follows:
Loan Purchases and Sales The following table summarizes significant portfolio loan purchase and sale activity for the three-month and six-month periods ended June 30, 2016 and 2015. The table below excludes mortgage loans originated for sale.
NALs and Past Due Loans Loans are considered past due when the contractual amounts due with respect to principal and interest are not received within 30 days of the contractual due date. Any loan in any portfolio may be placed on nonaccrual status prior to the policies described below when collection of principal or interest is in doubt. When a borrower with debt is discharged in a Chapter 7 bankruptcy and not reaffirmed by the borrower, the loan is determined to be collateral dependent and placed on nonaccrual status. All classes within the C&I and CRE portfolios (except for purchased credit-impaired loans) are placed on nonaccrual status at 90-days past due. Residential mortgage loans are placed on nonaccrual status at 150-days past due, with the exception of residential mortgages guaranteed by government organizations. First-lien home equity loans are placed on nonaccrual status at 150-days past due. Junior-lien home equity loans are placed on nonaccrual status at the earlier of 120-days past due or when the related first-lien loan has been identified as nonaccrual. Automobile and other consumer loans are generally charged-off when the loan is 120-days past due. For all classes within all loan portfolios, when a loan is placed on nonaccrual status, any accrued interest income is reversed with current year accruals charged to interest income, and prior year amounts are recognized as a credit loss. For all classes within all loan portfolios, cash receipts received on NALs are applied entirely against principal until the loan or lease has been collected in full, after which time any additional cash receipts are recognized as interest income. However, for secured non-reaffirmed debt in a Chapter 7 bankruptcy, payments are applied to principal and interest when the borrower has demonstrated a capacity to continue payment of the debt and collection of the debt is reasonably assured. For unsecured non-reaffirmed debt in a Chapter 7 bankruptcy where the carrying value has been fully charged-off, payments are recorded as loan recoveries. Regarding all classes within the C&I and CRE portfolios, the determination of a borrower’s ability to make the required principal and interest payments is based on an examination of the borrower’s current financial statements, industry, management capabilities, and other qualitative measures. For all classes within the consumer loan portfolio, the determination of a borrower’s ability to make the required principal and interest payments is based on multiple factors, including number of days past due and, in some instances, an evaluation of the borrower’s financial condition. When, in Management’s judgment, the borrower’s ability to make required principal and interest payments resumes and collectability is no longer in doubt, supported by sustained repayment history, the loan or lease is returned to accrual status. For these loans that have been returned to accrual status, cash receipts are applied according to the contractual terms of the loan. The following table presents NALs by loan class at June 30, 2016 and December 31, 2015:
The following table presents an aging analysis of loans and leases, including past due loans, by loan class at June 30, 2016 and December 31, 2015: (1)
Allowance for Credit Losses Huntington maintains two reserves, both of which reflect Management’s judgment regarding the appropriate level necessary to absorb credit losses inherent in our loan and lease portfolio: the ALLL and the AULC. Combined, these reserves comprise the total ACL. The determination of the ACL requires significant estimates, including the timing and amounts of expected future cash flows on impaired loans and leases, consideration of current economic conditions, and historical loss experience pertaining to pools of homogeneous loans and leases, all of which may be susceptible to change. The appropriateness of the ACL is based on Management’s current judgments about the credit quality of the loan portfolio. These judgments consider on-going evaluations of the loan and lease portfolio, including such factors as the differing economic risks associated with each loan category, the financial condition of specific borrowers, the level of delinquent loans, the value of any collateral and, where applicable, the existence of any guarantees or other documented support. Further, Management evaluates the impact of changes in interest rates and overall economic conditions on the ability of borrowers to meet their financial obligations when quantifying our exposure to credit losses and assessing the appropriateness of our ACL at each reporting date. In addition to general economic conditions and the other factors described above, additional factors also considered include: the impact of increasing or decreasing residential real estate values; the diversification of CRE loans; the development of new or expanded Commercial business segments such as healthcare, ABL, and energy, and the overall condition of the manufacturing industry. Management’s determinations regarding the appropriateness of the ACL are reviewed and approved by the Company’s board of directors. The ALLL consists of two components: (1) the transaction reserve, which includes a loan level allocation, specific reserves related to loans considered to be impaired, and loans involved in troubled debt restructurings, and (2) the general reserve. The transaction reserve component includes both (1) an estimate of loss based on pools of commercial and consumer loans and leases with similar characteristics, and (2) an estimate of loss based on an impairment review of each impaired C&I and CRE loan where obligor balance is greater than $1 million. For the C&I and CRE portfolios, the estimate of loss based on pools of loans and leases with similar characteristics is made by applying a PD factor and a LGD factor to each individual loan based on a regularly updated loan grade, using a standardized loan grading system. The PD factor and an LGD factor are determined for each loan grade using statistical models based on historical performance data. The PD factor considers on-going reviews of the financial performance of the specific borrower, including cash flow, debt-service coverage ratio, earnings power, debt level, and equity position, in conjunction with an assessment of the borrower’s industry and future prospects. The LGD factor considers analysis of the type of collateral and the relative LTV ratio. These reserve factors are developed and updated periodically based on credit migration models that track historical movements of loans between loan ratings over time and a combination of long-term average loss experience of our own portfolio and external industry data. In the case of other homogeneous portfolios, such as automobile loans, home equity loans, and residential mortgage loans, the determination of the transaction reserve also incorporates PD and LGD factors. The estimate of loss is based on pools of loans and leases with similar characteristics. The PD factor considers current credit scores unless the account is delinquent, in which case a higher PD factor is used. The credit score provides a basis for understanding the borrower’s past and current payment performance, and this information is used to estimate expected losses over the emergence period. The performance of first-lien loans ahead of our junior-lien loans is available to use as part of our updated score process. The LGD factor considers analysis of the type of collateral and the relative LTV ratio. Credit scores, models, analyses, and other factors used to determine both the PD and LGD factors are updated frequently to capture the recent behavioral characteristics of the subject portfolios, as well as any changes in loss mitigation or credit origination strategies, and adjustments to the reserve factors are made as required. The general reserve consists of our risk-profile reserve components, which includes items unique to our structure, policies, processes, and portfolio composition, as well as qualitative measurements and assessments of the loan portfolios including, but not limited to, management quality, concentrations, portfolio composition, industry comparisons, and internal review functions. The estimate for the AULC is determined using the same procedures and methodologies as used for the ALLL. The loss factors used in the AULC are the same as the loss factors used in the ALLL while also considering a historical utilization of unused commitments. The AULC is reflected in accrued expenses and other liabilities in the Unaudited Condensed Consolidated Balance Sheet. The ACL is increased through a provision for credit losses that is charged to earnings, based on Management’s quarterly evaluation of the factors previously mentioned, and is reduced by charge-offs, net of recoveries, and the ACL associated with securitized or sold loans. The following table presents ALLL and AULC activity by portfolio segment for the three-month and six-month periods ended June 30, 2016 and 2015:
Any loan in any portfolio may be charged-off prior to the policies described below if a loss confirming event has occurred. Loss confirming events include, but are not limited to, bankruptcy (unsecured), continued delinquency, foreclosure, or receipt of an asset valuation indicating a collateral deficiency and that asset is the sole source of repayment. Additionally, discharged, collateral dependent non-reaffirmed debt in Chapter 7 bankruptcy filings will result in a charge-off to estimated collateral value, less anticipated selling costs. C&I and CRE loans are either fully or partially charged-off at 90-days past due. Automobile loans and other consumer loans are charged-off at 120-days past due. First-lien and junior-lien home equity loans are charged-off to the estimated fair value of the collateral, less anticipated selling costs, at 150-days past due and 120-days past due, respectively. Residential mortgages are charged-off to the estimated fair value of the collateral, less anticipated selling costs, at 150-days past due. Credit Quality Indicators To facilitate the monitoring of credit quality for C&I and CRE loans, and for purposes of determining an appropriate ACL level for these loans, Huntington utilizes the following categories of credit grades: Pass - Higher quality loans that do not fit any of the other categories described below. OLEM - The credit risk may be relatively minor yet represent a risk given certain specific circumstances. If the potential weaknesses are not monitored or mitigated, the loan may weaken or the collateral may be inadequate to protect Huntington’s position in the future. For these reasons, Huntington considers the loans to be potential problem loans. Substandard - Inadequately protected loans by the borrower’s ability to repay, equity, and/or the collateral pledged to secure the loan. These loans have identified weaknesses that could hinder normal repayment or collection of the debt. It is likely Huntington will sustain some loss if any identified weaknesses are not mitigated. Doubtful - Loans that have all of the weaknesses inherent in those loans classified as Substandard, with the added elements of the full collection of the loan is improbable and that the possibility of loss is high. The categories above, which are derived from standard regulatory rating definitions, are assigned upon initial approval of the loan or lease and subsequently updated as appropriate. Commercial loans categorized as OLEM, Substandard, or Doubtful are considered Criticized loans. Commercial loans categorized as Substandard or Doubtful are also considered Classified loans. For all classes within all consumer loan portfolios, each loan is assigned a specific PD factor that is partially based on the borrower’s most recent credit bureau score, which we update quarterly. A credit bureau score is a credit score developed by Fair Isaac Corporation based on data provided by the credit bureaus. The credit bureau score is widely accepted as the standard measure of consumer credit risk used by lenders, regulators, rating agencies, and consumers. The higher the credit bureau score, the higher likelihood of repayment and therefore, an indicator of higher credit quality. Huntington assesses the risk in the loan portfolio by utilizing numerous risk characteristics. The classifications described above, and also presented in the table below, represent one of those characteristics that are closely monitored in the overall credit risk management processes. The following table presents each loan and lease class by credit quality indicator at June 30, 2016 and December 31, 2015:
Impaired Loans For all classes within the C&I and CRE portfolios, all loans with an obligor balance of $1 million or greater are considered for individual evaluation on a quarterly basis for impairment. Generally, consumer loans within any class are not individually evaluated on a regular basis for impairment. However, certain home equity and residential mortgage loans are measured for impairment based on the underlying collateral value. All TDRs, regardless of the outstanding balance amount, are also considered to be impaired. Loans acquired with evidence of deterioration of credit quality since origination for which it is probable at acquisition that all contractually required payments will not be collected are also considered to be impaired. Once a loan has been identified for an assessment of impairment, the loan is considered impaired when, based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected. This determination requires significant judgment and use of estimates, and the eventual outcome may differ significantly from those estimates. When a loan in any class has been determined to be impaired, the amount of the impairment is measured using the present value of expected future cash flows discounted at the loan’s effective interest rate or, as a practical expedient, the observable market price of the loan, or the fair value of the collateral, less anticipated selling costs, if the loan is collateral dependent. When the present value of expected future cash flows is used, the effective interest rate is the original contractual interest rate of the loan adjusted for any premium, discount, fees, or costs. A specific reserve is established as a component of the ALLL when a commercial loan has been determined to be impaired. Subsequent to the initial measurement of impairment, if there is a significant change to the impaired loan’s expected future cash flows, or if actual cash flows are significantly different from the cash flows previously estimated, Huntington recalculates the impairment and appropriately adjusts the specific reserve. Similarly, if Huntington measures impairment based on the observable market price of an impaired loan or the fair value of the collateral of an impaired collateral dependent loan, Huntington will adjust the specific reserve. When a loan within any class is impaired, the accrual of interest income is discontinued unless the receipt of principal and interest is no longer in doubt. Interest income on TDRs is accrued when all principal and interest is expected to be collected under the post-modification terms. Cash receipts received on nonaccruing impaired loans within any class are generally applied entirely against principal until the loan has been collected in full (including already charged-off portion), after which time any additional cash receipts are recognized as interest income. Cash receipts received on accruing impaired loans within any class are applied in the same manner as accruing loans that are not considered impaired. The following tables present the balance of the ALLL attributable to loans by portfolio segment individually and collectively evaluated for impairment and the related loan and lease balance at June 30, 2016 and December 31, 2015:
The following tables present by class the ending, unpaid principal balance, and the related ALLL, along with the average balance and interest income recognized only for loans and leases individually evaluated for impairment and purchased credit-impaired loans: (1), (2)
TDR Loans TDRs are modified loans where a concession was provided to a borrower experiencing financial difficulties. Loan modifications are considered TDRs when the concessions provided are not available to the borrower through either normal channels or other sources. However, not all loan modifications are TDRs. TDR Concession Types The Company’s standards relating to loan modifications consider, among other factors, minimum verified income requirements, cash flow analyses, and collateral valuations. Each potential loan modification is reviewed individually and the terms of the loan are modified to meet a borrower’s specific circumstances at a point in time. All commercial TDRs are reviewed and approved by our SAD. The types of concessions provided to borrowers include:
Principal forgiveness may result from any TDR modification of any concession type. However, the aggregate amount of principal forgiven as a result of loans modified as TDRs during the three-month and six-month periods ended June 30, 2016 and 2015, was not significant. Following is a description of TDRs by the different loan types: Commercial loan TDRs – Commercial accruing TDRs often result from loans receiving a concession with terms that are not considered a market transaction to Huntington. The TDR remains in accruing status as long as the customer is less than 90-days past due on payments per the restructured loan terms and no loss is expected. Commercial nonaccrual TDRs result from either: (1) an accruing commercial TDR being placed on nonaccrual status, or (2) a workout where an existing commercial NAL is restructured and a concession is given. At times, these workouts restructure the NAL so that two or more new notes are created. The primary note is underwritten based upon our normal underwriting standards and is sized so projected cash flows are sufficient to repay contractual principal and interest. The terms on the secondary note(s) vary by situation, and may include notes that defer principal and interest payments until after the primary note is repaid. Creating two or more notes often allows the borrower to continue a project and allows Huntington to right-size a loan based upon the current expectations for a borrower’s or project’s performance. Our strategy involving TDR borrowers includes working with these borrowers to allow them time to improve their financial position and remain our customer through refinancing their notes according to market terms and conditions in the future or to refinance elsewhere. A subsequent refinancing or modification of a loan may occur when either the loan matures according to the terms of the TDR-modified agreement or the borrower requests a change to the loan agreements. At that time, the loan is evaluated to determine if it is creditworthy. It is subjected to the normal underwriting standards and processes for other similar credit extensions, both new and existing. The refinanced note is evaluated to determine if it is considered a new loan or a continuation of the prior loan. A new loan is considered for removal of the TDR designation, whereas a continuation of the prior note requires a continuation of the TDR designation. In order for a TDR designation to be removed, the borrower must no longer be experiencing financial difficulties and the terms of the refinanced loan must not represent a concession. Residential Mortgage loan TDRs – Residential mortgage TDRs represent loan modifications associated with traditional first-lien mortgage loans in which a concession has been provided to the borrower. The primary concessions given to residential mortgage borrowers are amortization or maturity date changes and interest rate reductions. Residential mortgages identified as TDRs involve borrowers unable to refinance their mortgages through the Company’s normal mortgage origination channels or through other independent sources. Some, but not all, of the loans may be delinquent. Automobile, Home Equity, and Other Consumer loan TDRs – The Company may make similar interest rate, term, and principal concessions as with residential mortgage loan TDRs. TDR Impact on Credit Quality Huntington’s ALLL is largely determined by updated risk ratings assigned to commercial loans, updated borrower credit scores on consumer loans, and borrower delinquency history in both the commercial and consumer portfolios. These updated risk ratings and credit scores consider the default history of the borrower, including payment redefaults. As such, the provision for credit losses is impacted primarily by changes in borrower payment performance rather than the TDR classification. TDRs can be classified as either accrual or nonaccrual loans. Nonaccrual TDRs are included in NALs whereas accruing TDRs are excluded from NALs as it is probable that all contractual principal and interest due under the restructured terms will be collected. Our TDRs may include multiple concessions and the disclosure classifications are presented based on the primary concession provided to the borrower. The majority of our concessions for the C&I and CRE portfolios are the extension of the maturity date. TDR concessions may also result in the reduction of the ALLL within the C&I and CRE portfolios. This reduction is derived from payments and the resulting application of the reserve calculation within the ALLL. The transaction reserve for non-TDR C&I and CRE loans is calculated based upon several estimated probability factors, such as PD and LGD, both of which were previously discussed. Upon the occurrence of a TDR in our C&I and CRE portfolios, the reserve is measured based on discounted expected cash flows or collateral value, less anticipated selling costs, of the modified loan in accordance with ASC 310-10. The resulting TDR ALLL calculation often results in a lower ALLL amount because (1) the discounted expected cash flows or collateral value, less anticipated selling costs, indicate a lower estimated loss, (2) if the modification includes a rate increase, the discounting of the cash flows on the modified loan, using the pre-modification interest rate, exceeds the carrying value of the loan, or (3) payments may occur as part of the modification. The ALLL for C&I and CRE loans may increase as a result of the modification, as the discounted cash flow analysis may indicate additional reserves are required. TDR concessions on consumer loans may increase the ALLL. The concessions made to these borrowers often include interest rate reductions, and therefore, the TDR ALLL calculation results in a greater ALLL compared with the non-TDR calculation as the reserve is measured based on the estimation of the discounted expected cash flows or collateral value, less anticipated selling costs, on the modified loan in accordance with ASC 310-10. The resulting TDR ALLL calculation often results in a higher ALLL amount because (1) the discounted expected cash flows or collateral value, less anticipated selling costs, indicate a higher estimated loss or, (2) due to the rate decrease, the discounting of the cash flows on the modified loan, using the pre-modification interest rate, indicates a reduction in the present value of expected cash flows or collateral value, less anticipated selling costs. In certain instances, the ALLL may decrease as a result of payments made in connection with the modification. Commercial loan TDRs – In instances where the bank substantiates that it will collect its outstanding balance in full, the note is considered for return to accrual status upon the borrower showing a sustained period of repayment performance for a minimum six-month period of time. This six-month period could extend before or after the restructure date. If a charge-off was taken as part of the restructuring, any interest or principal payments received on that note are applied to first reduce the bank’s outstanding book balance and then to recoveries of charged-off principal, unpaid interest, and/or fee expenses while the TDR is in nonaccrual status. Residential Mortgage, Automobile, Home Equity, and Other Consumer loan TDRs – Modified loans identified as TDRs are aggregated into pools for analysis. Cash flows and weighted average interest rates are used to calculate impairment at the pooled-loan level. Once the loans are aggregated into the pool, they continue to be classified as TDRs until contractually repaid or charged-off. Residential mortgage loans not guaranteed by a U.S. government agency such as the FHA, VA, and the USDA, including TDR loans, are reported as accrual or nonaccrual based upon delinquency status. Nonaccrual TDRs are those that are greater than 150-days contractually past due. Loans guaranteed by U.S. government organizations continue to accrue interest on guaranteed rates upon delinquency. The following tables present by class and by the reason for the modification, the number of contracts, post-modification outstanding balance, and the financial effects of the modification for the three-month and six-month periods ended June 30, 2016 an 2015:
Pledged Loans and Leases At June 30, 2016, the Bank has access to the Federal Reserve’s discount window and advances from the FHLB – Cincinnati. As of June 30, 2016, these borrowings and advances are secured by $18.0 billion of loans and securities. On March 31, 2015, Huntington completed its acquisition of Macquarie Equipment Finance, which we have re-branded Huntington Technology Finance. Huntington assumed debt associated with two securitizations. As of June 30, 2016, the debt is secured by $106 million of leases held by the trusts. |
AVAILABLE-FOR-SALE AND OTHER SECURITIES |
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Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AVAILABLE-FOR-SALE AND OTHER SECURITIES | AVAILABLE-FOR-SALE AND OTHER SECURITIES Listed below are the contractual maturities (1 year or less, 1-5 years, 6-10 years, and over 10 years) of available-for-sale and other securities at June 30, 2016 and December 31, 2015:
Non-marketable equity securities at June 30, 2016 and December 31, 2015 include $157 million of stock issued by the FHLB of Cincinnati and $177 million and $176 million, respectively of Federal Reserve Bank stock. Non-marketable equity securities are recorded at amortized cost. The following tables provide amortized cost, fair value, and gross unrealized gains and losses recognized in OCI by investment category at June 30, 2016 and December 31, 2015:
At June 30, 2016, the carrying value of investment securities pledged to secure public and trust deposits, trading account liabilities, U.S. Treasury demand notes, and security repurchase agreements totaled $2.5 billion. There were no securities of a single issuer, which are not governmental or government-sponsored, that exceeded 10% of shareholders’ equity at June 30, 2016. The following tables provide detail on investment securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position, at June 30, 2016 and December 31, 2015:
The following table is a summary of realized securities gains and losses for the three-month and six-month periods ended June 30, 2016 and 2015:
Security Impairment Huntington evaluates the available-for-sale securities portfolio on a quarterly basis for impairment. We conduct a comprehensive security-level assessment on all available-for-sale securities. Impairment would exist when the present value of the expected cash flows are not sufficient to recover the entire amortized cost basis at the balance sheet date. Under these circumstances, any impairment would be recognized in earnings. The contractual terms and/or cash flows of the investments do not permit the issuer to settle the securities at a price less than the amortized cost. Huntington does not intend to sell, nor does it believe it will be required to sell these securities until the amortized cost is recovered, which may be maturity. The highest risk segment in our investment portfolio is the trust preferred CDO securities which are in the asset-backed securities portfolio. This portfolio is in run off, and we have not purchased these types of securities since 2005. The fair values of the CDO assets have been impacted by various market conditions. The unrealized losses are primarily the result of wider liquidity spreads on asset-backed securities and the longer expected average lives of the trust-preferred CDO securities, due to changes in the expectations of when the underlying securities will be repaid. Collateralized Debt Obligations are backed by a pool of debt securities issued by financial institutions. The collateral generally consists of trust-preferred securities and subordinated debt securities issued by banks, bank holding companies, and insurance companies. Many collateral issuers have the option of deferring interest payments on their debt for up to five years. A full cash flow analysis is used to estimate fair values and assess impairment for each security within this portfolio. A third party pricing specialist with direct industry experience in pooled-trust-preferred security evaluations is engaged to provide assistance estimating the fair value and expected cash flows on this portfolio. The full cash flow analysis is completed by evaluating the relevant credit and structural aspects of each pooled-trust-preferred security in the portfolio, including collateral performance projections for each piece of collateral in the security and terms of the security’s structure. The credit review includes an analysis of profitability, credit quality, operating efficiency, leverage, and liquidity using available financial and regulatory information for each underlying collateral issuer. The analysis also includes a review of historical industry default data, current / near-term operating conditions, and the impact of macroeconomic and regulatory changes. Using the results of our analysis, we estimate appropriate default and recovery probabilities for each piece of collateral then estimate the expected cash flows for each security. The fair value of each security is obtained by discounting the expected cash flows at a market discount rate. The market discount rate is determined by reference to yields observed in the market for similarly rated collateralized debt obligations, specifically high-yield collateralized loan obligations. The relatively high market discount rate is reflective of the uncertainty of the cash flows and illiquid nature of these securities. The large differential between the fair value and amortized cost of some of the securities reflects the high market discount rate and the expectation that the majority of the cash flows will not be received until near the final maturity of the security (the final maturities range from 2032 to 2035). On December 10, 2013, the Federal Reserve, the OCC, the FDIC, the CFTC and the SEC issued final rules to implement the Volcker Rule contained in section 619 of the Dodd-Frank Act, generally to become effective on July 21, 2015. The Volcker Rule prohibits an insured depository institution and its affiliates (referred to as “banking entities”) from: (i) engaging in “proprietary trading” and (ii) investing in or sponsoring certain types of funds (“covered funds”) subject to certain limited exceptions. These prohibitions impact the ability of U.S. banking entities to provide investment management products and services that are competitive with nonbanking firms generally and with non-U.S. banking organizations in overseas markets. The rule also effectively prohibits short-term trading strategies by any U.S. banking entity if those strategies involve instruments other than those specifically permitted for trading. On July 6, 2016, the Federal Reserve extended the conformance period under section 13 of the BHC Act for all banking entities to conform investments in, and relationships with, legacy covered funds until July 21, 2017. On January 14, 2014, the five federal agencies approved an interim final rule to permit banking entities to retain interests in certain collateralized debt obligations backed primarily by trust preferred securities from the investment prohibitions of section 619 of the Volcker Rule. Under the interim final rule, the agencies permit the retention of an interest in or sponsorship of covered funds by banking entities if certain qualifications are met. In addition, the agencies released a non-exclusive list of issuers that meet the requirements of the interim final rule. At June 30, 2016, we had investments in seven different pools of trust preferred securities. Six of our pools are included in the list of non-exclusive issuers. We have analyzed the ICONS pool that was not included on the list and believe that it is more likely than not that we will be able to hold the ICONS security to recovery under the final Volcker Rule regulations. The following table summarizes the relevant characteristics of our CDO securities portfolio, which are included in asset-backed securities, at June 30, 2016. Each security is part of a pool of issuers and supports a more senior tranche of securities except for the MM Comm III securities which are the most senior class. Collateralized Debt Obligation Data June 30, 2016 (dollar amounts in thousands)
For the three-month and six-month periods ended June 30, 2016 and 2015, the following table summarizes by security type the total OTTI losses recognized in the Unaudited Condensed Consolidated Statements of Income for securities evaluated for impairment as described above.
The following table rolls forward the OTTI recognized in earnings on debt securities held by Huntington for the three-month and six-month periods ended June 30, 2016 and 2015 as follows:
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HELD-TO-MATURITY SECURITIES |
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Held-to-maturity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HELD-TO-MATURITY SECURITIES | HELD-TO-MATURITY SECURITIES These are debt securities that Huntington has the intent and ability to hold until maturity. The debt securities are carried at amortized cost and adjusted for amortization of premiums and accretion of discounts using the interest method. During 2015, Huntington transferred $3.0 billion of federal agencies, mortgage-backed securities and other agency securities from the available-for-sale securities portfolio to the held-to-maturity securities portfolio. At the time of the transfer, $6 million of unrealized net gains were recognized in OCI. The amounts in OCI will be recognized in earnings over the remaining life of the securities as an offset to the adjustment of yield in a manner consistent with the amortization of the premium on the same transferred securities, resulting in an immaterial impact on net income. Listed below are the contractual maturities (1 year or less, 1-5 years, 6-10 years, and over 10 years) of held-to-maturity securities at June 30, 2016 and December 31, 2015:
The following table provides amortized cost, gross unrealized gains and losses, and fair value by investment category at June 30, 2016 and December 31, 2015:
The following tables provide detail on held-to-maturity securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position, at June 30, 2016 and December 31, 2015:
Security Impairment Huntington evaluates the held-to-maturity securities portfolio on a quarterly basis for impairment. Impairment would exist when the present value of the expected cash flows is not sufficient to recover the entire amortized cost basis at the balance sheet date. Under these circumstances, any impairment would be recognized in earnings. As of June 30, 2016, Management has evaluated held-to-maturity securities with unrealized losses for impairment and concluded no OTTI is required. |
LOAN SALES AND SECURITIZATIONS |
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Transfers and Servicing [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LOAN SALES AND SECURITIZATIONS | LOAN SALES AND SECURITIZATIONS Residential Mortgage Loans The following table summarizes activity relating to residential mortgage loans sold with servicing retained for the three-month and six-month periods ended June 30, 2016 and 2015:
A MSR is established only when the servicing is contractually separated from the underlying mortgage loans by sale or securitization of the loans with servicing rights retained. At initial recognition, the MSR asset is established at its fair value using assumptions consistent with assumptions used to estimate the fair value of existing MSRs. At the time of initial capitalization, MSRs may be recorded using either the fair value method or the amortization method. The election of the fair value method or amortization method is made at the time each servicing class is established. Subsequently, servicing rights are accounted for based on the methodology chosen for each respective servicing class. Any increase or decrease in the fair value of MSRs carried under the fair value method, as well as amortization or impairment of MSRs recorded using the amortization method, during the period is recorded as an increase or decrease in mortgage banking income, which is reflected in noninterest income in the Unaudited Condensed Consolidated Statements of Income. The following tables summarize the changes in MSRs recorded using either the fair value method or the amortization method for the three-month and six-month periods ended June 30, 2016 and 2015:
MSRs do not trade in an active, open market with readily observable prices. While sales of MSRs occur, the precise terms and conditions are typically not readily available. Therefore, the fair value of MSRs is estimated using a discounted future cash flow model. The model considers portfolio characteristics, contractually specified servicing fees and assumptions related to prepayments, delinquency rates, late charges, other ancillary revenues, costs to service, and other economic factors. Changes in the assumptions used may have a significant impact on the valuation of MSRs. MSR values are very sensitive to movements in interest rates as expected future net servicing income depends on the projected outstanding principal balances of the underlying loans, which can be greatly impacted by the level of prepayments. Huntington hedges the value of certain MSRs against changes in value attributable to changes in interest rates using a combination of derivative instruments and trading securities. For MSRs under the fair value method, a summary of key assumptions and the sensitivity of the MSR value at June 30, 2016 and December 31, 2015, to changes in these assumptions follows:
For MSRs under the amortization method, a summary of key assumptions and the sensitivity of the MSR value at June 30, 2016 and December 31, 2015, to changes in these assumptions follows:
Total servicing, late and other ancillary fees included in mortgage banking income amounted to $12 million and $11 million for the three-month periods ended June 30, 2016 and 2015, respectively. For the six-month periods ended June 30, 2016 and 2015, total net servicing fees included in mortgage banking income were $24 million and $23 million, respectively. The unpaid principal balance of residential mortgage loans serviced for third parties was $16.2 billion and $16.2 billion at June 30, 2016 and December 31, 2015, respectively. Automobile Loans and Leases Huntington has retained servicing responsibilities on sold automobile loans and receives annual servicing fees and other ancillary fees on the outstanding loan balances. Automobile loan servicing rights are accounted for using the amortization method. A servicing asset is established at fair value at the time of the sale. The servicing asset is then amortized against servicing income. Impairment, if any, is recognized when carrying value exceeds the fair value as determined by calculating the present value of expected net future cash flows. The primary risk characteristic for measuring servicing assets is payoff rates of the underlying loan pools. Valuation calculations rely on the predicted payoff assumption and, if actual payoff is quicker than expected, then future value would be impaired. Changes in the carrying value of automobile loan servicing rights for the three-month and six-month periods ended June 30, 2016 and 2015, and the fair value at the end of each period were as follows:
A summary of key assumptions and the sensitivity of the automobile loan servicing rights value to changes in these assumptions at June 30, 2016 and December 31, 2015 follows:
Servicing income amounted to $2 million and $3 million for the three-month periods ending June 30, 2016, and 2015, respectively. For the six-month periods ended June 30, 2016 and 2015, total servicing income was $5 million and $7 million, respectively. The unpaid principal balance of automobile loans serviced for third parties was $0.6 billion and $0.9 billion at June 30, 2016 and December 31, 2015, respectively. Small Business Administration (SBA) Portfolio The following table summarizes activity relating to SBA loans sold with servicing retained for the three-month and six-month periods ended June 30, 2016 and 2015:
Huntington has retained servicing responsibilities on sold SBA loans and receives annual servicing fees on the outstanding loan balances. SBA loan servicing rights are accounted for using the amortization method. A servicing asset is established at fair value at the time of the sale using a discounted future cash flow model. The servicing asset is then amortized against servicing income. Impairment, if any, is recognized when carrying value exceeds the fair value as determined by calculating the present value of expected net future cash flows. The following tables summarize the changes in the carrying value of the servicing asset for the three-month and six-month periods ended June 30, 2016 and 2015, and the fair value at the end of each period were as follows:
A summary of key assumptions and the sensitivity of the SBA loan servicing rights value to changes in these assumptions at June 30, 2016 and December 31, 2015 follows:
Servicing income amounted to $2 million and $2 million for the three-month periods ending June 30, 2016, and 2015, respectively. For the six-month periods ended June 30, 2016 and 2015, total servicing income was $5 million and $4 million, respectively. The unpaid principal balance of SBA loans serviced for third parties was $1.1 billion and $1.0 billion at June 30, 2016 and December 31, 2015, respectively. |
LONG-TERM DEBT |
6 Months Ended |
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Jun. 30, 2016 | |
Debt Disclosure [Abstract] | |
LONG-TERM DEBT | LONG-TERM DEBT In March 2016, Huntington issued $1.0 billion of senior notes at 99.803% of face value. The senior notes mature on March 14, 2021 and have a fixed coupon rate of 3.15%. Debt issuance costs of $6 million related to the note are reported on the balance sheet as a direct deduction from the face amount of the note. |
OTHER COMPREHENSIVE INCOME |
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Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OTHER COMPREHENSIVE INCOME | OTHER COMPREHENSIVE INCOME The components of other comprehensive income for the three-month and six-month periods ended June 30, 2016 and 2015, were as follows:
The following table presents activity in accumulated other comprehensive income (loss), net of tax, for the six-month periods ended June 30, 2016 and 2015:
The following table presents the reclassification adjustments out of accumulated OCI included in net income and the impacted line items as listed on the Unaudited Condensed Consolidated Statements of Income for the three-month and six-month periods ended June 30, 2016 and 2015:
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SHAREHOLDERS' EQUITY SHAREHOLDERS' EQUITY |
6 Months Ended |
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Jun. 30, 2016 | |
Stockholders' Equity Note [Abstract] | |
SHAREHOLDERS' EQUITY | SHAREHOLDERS’ EQUITY Preferred D Stock issued and outstanding During the 2016 first and second quarter, Huntington issued $400 million and $200 million of preferred stock, respectively. As part of these transactions, Huntington issued 24,000,000 depositary shares, each representing a 1/40th ownership interest in a share of 6.250% Series D Non-Cumulative Perpetual Preferred Stock (Preferred D Stock), par value $0.01 per share, with a liquidation preference of $1,000 per share (equivalent to $25 per depositary share). Each holder of a depositary share, will be entitled to all proportional rights and preferences of the Preferred D Stock (including dividend, voting, redemption and liquidation rights). Costs of $15 million related to the issuance of the Preferred D Stock are reported as a direct deduction from the face amount of the stock. Dividends on the Preferred D Stock will be non-cumulative and payable quarterly in arrears, when, as and if authorized by our board of directors or a duly authorized committee of our board and declared by us, at an annual rate of 6.25% per year on the liquidation preference of $1,000 per share, equivalent to $25 per depositary share. The dividend payment dates will be the fifteenth day of each January, April, July and October, commencing on July 15, 2016, or the next business day if any such day is not a business day. The Preferred D Stock is perpetual and has no maturity date. Huntington may redeem the Preferred D Stock at our option, (i) in whole or in part, from time to time, on any dividend payment date on or after April 15, 2021 or (ii) in whole but not in part, within 90 days following a regulatory capital treatment event, in each case, at a redemption price equal to $1,000 per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends and, in the case of a redemption following a regulatory capital treatment event, the pro rated portion of dividends, whether or not declared, for the dividend period in which such redemption occurs. Notwithstanding the foregoing, pursuant to a commitment we have made to the Federal Reserve, for at least five years after the date of the issuance of depositary shares offered by the prospectus supplement, we will not redeem or repurchase the Preferred D Stock, whether issued on March 21, 2016 or on the date of the issuance of the depositary shares offered by the prospectus supplement. If Huntington redeems the Preferred D Stock, the depositary will redeem a proportional number of depositary shares. Neither the holders of Preferred D Stock nor holders of depositary shares will have the right to require the redemption or repurchase of the Preferred D Stock or the depositary shares. Any redemption of the Preferred D Stock is subject to Huntington's receipt of any required prior approval by the Board of Governors of the Federal Reserve System. 2016 Comprehensive Capital Analysis and Review (CCAR) On June 29, 2016, Huntington announced that the Federal Reserve did not object to the proposed capital actions included in Huntington's capital plan submitted to the Federal Reserve in April 2016 as part of the 2016 Comprehensive Capital Analysis and Review (CCAR). These actions included an increase in the quarterly dividend per common share to $0.08, starting in the fourth quarter of 2016. Huntington’s capital plan also included the issuance of capital in connection with the pending acquisition of FirstMerit Corporation and continues the previously announced suspension of the company’s 2015 share repurchase program. 2015 Share Repurchase Program On March 11, 2015, Huntington announced that the Federal Reserve did not object to the proposed capital actions included in Huntington’s capital plan submitted to the Federal Reserve in January 2015. These actions included a potential repurchase of up to $366 million of common stock from the second quarter of 2015 through the second quarter of 2016. Purchases of common stock may include open market purchases, privately negotiated transactions, and accelerated repurchase programs. Huntington’s board of directors authorized a share repurchase program consistent with Huntington’s capital plan. This program replaced the previously authorized share repurchase program authorized by Huntington’s board of directors in 2014. On January 26, 2016, Huntington announced the signing of a definitive merger agreement under which Ohio-based FirstMerit Corporation, the parent company of FirstMerit Bank, will merge into Huntington in a stock and cash transaction (see Note 3). As a result, Huntington did not repurchase any shares during 2016. During the three months ended June 30, 2015, Huntington repurchased a total of 8.8 million shares of common stock at a weighted average share price of $11.20. During the six months ended June 30, 2015 Huntington repurchased a total of 13.8 million shares of common stock at a weighted average share price of $10.92. |
EARNINGS PER SHARE |
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EARNINGS PER SHARE | EARNINGS PER SHARE Basic earnings per share is the amount of earnings (adjusted for dividends declared on preferred stock) available to each share of common stock outstanding during the reporting period. Diluted earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares. Potentially dilutive common shares include incremental shares issued for stock options, restricted stock units and awards, distributions from deferred compensation plans, and the conversion of the Company’s convertible preferred. Potentially dilutive common shares are excluded from the computation of diluted earnings per share in periods in which the effect would be antidilutive. For diluted earnings per share, net income available to common shares can be affected by the conversion of the Company’s convertible preferred stock. Where the effect of this conversion would be dilutive, net income available to common shareholders is adjusted by the associated preferred dividends and deemed dividend. The calculation of basic and diluted earnings per share for three and six-month periods ended June 30, 2016 and 2015, was as follows:
For the three-month periods ended June 30, 2016 and 2015, approximately 4.7 million and 1.5 million, respectively, of options to purchase shares of common stock were not included in the computation of diluted earnings per share because the effect would be antidilutive. For the six-month periods ended June 30, 2016 and 2015, approximately 4.0 million and 1.3 million were not included, respectively, |
BENEFIT PLANS |
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Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BENEFIT PLANS | .BENEFIT PLANS Huntington sponsors the Plan, a non-contributory defined benefit pension plan covering substantially all employees hired or rehired prior to January 1, 2010. The Plan, which was modified in 2013 and no longer accrues service benefits to participants, provides benefits based upon length of service and compensation levels. The funding policy of Huntington is to contribute an annual amount that is at least equal to the minimum funding requirements but not more than the amount deductible under the Internal Revenue Code. There is no required minimum contribution for 2016. During the 2013 third quarter, the board of directors approved, and management communicated, a curtailment of the Company’s pension plan effective December 31, 2013. In addition, Huntington has an unfunded defined benefit post-retirement plan that provides certain healthcare and life insurance benefits to retired employees who have attained the age of 55 and have at least 10 years of vesting service under this plan. For additional information on benefit plans, see the Benefit Plan footnote in our 2015 Form 10-K. On January 1, 2015, Huntington terminated the Company sponsored retiree health care plan for Medicare eligible retirees and their dependents. Instead, Huntington partnered with a third party to assist the retirees and their dependents in selecting individual policies from a variety of carriers on a private exchange. This plan amendment resulted in a measurement of the liability at the approval date. The result of the measurement was a $5 million reduction of the liability and increase in accumulated other comprehensive income during the 2014 third quarter. It also resulted in a reduction of expense over the estimated life of plan participants. The following table shows the components of net periodic benefit expense of the Plan and the Post-Retirement Benefit Plan:
The Bank, as trustee, held all Plan assets at June 30, 2016 and December 31, 2015. The Plan assets consisted of the following investments:
Investments of the Plan are accounted for at cost on the trade date and are reported at fair value. The valuation methodologies used to measure the fair value of pension plan assets vary depending on the type of asset. At June 30, 2016, equities and money market funds are classified as Level 1; mutual funds-fixed income, corporate obligations, U.S. government obligations, and U.S. government agencies are classified as Level 2; and limited partnerships are classified as Level 3. In general, investments of the Plan are exposed to various risks such as interest rate risk, credit risk, and overall market volatility. Due to the level of risk associated with certain investments, it is reasonably possible changes in the values of investments will occur in the near term and such changes could materially affect the amounts reported in the Plan assets. The investment objective of the Plan is to maximize the return on Plan assets over a long-time period, while meeting the Plan obligations. At June 30, 2016, Plan assets were invested 47% in equity investments, 52% in bonds, and 1% in cash equivalents with an average duration of 12.9 years on bond investments. The estimated life of benefit obligations was 11.9 years. Although it may fluctuate with market conditions, Management has targeted a long-term allocation of Plan assets of 20% to 50% in equity investments and 80% to 50% in bond investments. The allocation of Plan assets between equity investments and fixed income investments will change from time to time with the allocation to fixed income investments increasing as the funding level increases. Huntington also sponsors other nonqualified retirement plans, the most significant being the SERP and the SRIP. The SERP provides certain former officers and directors, and the SRIP provides certain current and former officers and directors of Huntington and its subsidiaries with defined pension benefits in excess of limits imposed by federal tax law. During the 2013 third quarter, the board of directors approved, and management communicated, a curtailment of the Company’s SRIP plan effective December 31, 2013. Huntington has a defined contribution plan that is available to eligible employees. Huntington matches participant contributions, up to the first 4% of base pay contributed to the Plan. For 2015, a discretionary profit-sharing contribution equal to 1% of eligible participants’ 2015 base pay was awarded during the 2016 first quarter. The following table shows the costs of providing the SERP, SRIP, and defined contribution plans:
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FAIR VALUES OF ASSETS AND LIABILITIES |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FAIR VALUES OF ASSETS AND LIABILITIES | FAIR VALUES OF ASSETS AND LIABILITIES See Note 17 “Fair Value of Assets and Liabilities” to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2015 for a description of valuation methodologies for assets and liabilities measured at fair value on a recurring and non-recurring basis. Assets and liabilities measured at fair value rarely transfer between Level 1 and Level 2 measurements. There were no such transfers during the three-month and six-month periods ended June 30, 2016 and 2015. Assets and Liabilities measured at fair value on a recurring basis Assets and liabilities measured at fair value on a recurring basis at June 30, 2016 and December 31, 2015 are summarized below:
The tables below present a rollforward of the balance sheet amounts for the three-month and six-month periods ended June 30, 2016 and 2015, for financial instruments measured on a recurring basis and classified as Level 3. The classification of an item as Level 3 is based on the significance of the unobservable inputs to the overall fair value measurement. However, Level 3 measurements may also include observable components of value that can be validated externally. Accordingly, the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology.
(1) Transfers out of Level 3 represent the settlement value of the derivative instruments (i.e. interest rate lock agreements) that is transferred to loans held for sale, which is classified as Level 2.
(1) Transfers out of Level 3 represent the settlement value of the derivative instruments (i.e. interest rate lock agreements) that is transferred to loans held for sale, which is classified as Level 2.
The tables below summarize the classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities for the three-month and six-month periods ended June 30, 2016 and 2015:
Assets and liabilities under the fair value option The following table presents the fair value and aggregate principal balance of certain assets and liabilities under the fair value option:
The following tables present the net gains (losses) from fair value changes, including net gains (losses) associated with instrument specific credit risk for the three-month and six-month periods ended June 30, 2016 and 2015:
Assets and Liabilities measured at fair value on a nonrecurring basis Certain assets and liabilities may be required to be measured at fair value on a nonrecurring basis in periods subsequent to their initial recognition. These assets and liabilities are not measured at fair value on an ongoing basis; however, they are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. Assets measured at fair value on a nonrecurring basis were as follows:
MSRs accounted for under the amortization method are subject to nonrecurring fair value measurement when the fair value is lower than the carrying amount. Periodically, Huntington records nonrecurring adjustments of collateral-dependent loans measured for impairment when establishing the ACL. Such amounts are generally based on the fair value of the underlying collateral supporting the loan. Appraisals are generally obtained to support the fair value of the collateral and incorporate measures such as recent sales prices for comparable properties and cost of construction. In cases where the carrying value exceeds the fair value of the collateral less cost to sell, an impairment charge is recognized. Other real estate owned properties are included in accrued income and other assets and valued based on appraisals and third party price opinions, less estimated selling costs. The appraisals supporting the fair value of the collateral to recognize loan impairment or unrealized loss on other real estate owned properties may not have been obtained as of June 30, 2016. Significant unobservable inputs for assets and liabilities measured at fair value on a recurring and nonrecurring basis The table below presents quantitative information about the significant unobservable inputs for assets and liabilities measured at fair value on a recurring and nonrecurring basis at June 30, 2016 and December 31, 2015:
The following provides a general description of the impact of a change in an unobservable input on the fair value measurement and the interrelationship between unobservable inputs, where relevant/significant. Interrelationships may also exist between observable and unobservable inputs. Such relationships have not been included in the discussion below. A significant change in the unobservable inputs may result in a significant change in the ending fair value measurement of Level 3 instruments. In general, prepayment rates increase when market interest rates decline and decrease when market interest rates rise and higher prepayment rates generally result in lower fair values for MSR assets, Private-label CMO securities, Asset-backed securities, and Automobile loans. Credit loss estimates, such as probability of default, constant default, cumulative default, loss given default, cure given deferral, and loss severity, are driven by the ability of the borrowers to pay their loans and the value of the underlying collateral and are impacted by changes in macroeconomic conditions, typically increasing when economic conditions worsen and decreasing when conditions improve. An increase in the estimated prepayment rate typically results in a decrease in estimated credit losses and vice versa. Higher credit loss estimates generally result in lower fair values. Credit spreads generally increase when liquidity risks and market volatility increase and decrease when liquidity conditions and market volatility improve. Discount rates and spread over forward interest rate swap rates typically increase when market interest rates increase and/or credit and liquidity risks increase and decrease when market interest rates decline and/or credit and liquidity conditions improve. Higher discount rates and credit spreads generally result in lower fair market values. Net market price and pull through percentages generally increase when market interest rates increase and decline when market interest rates decline. Higher net market price and pull through percentages generally result in higher fair values. Fair values of financial instruments The following table provides the carrying amounts and estimated fair values of Huntington’s financial instruments that are carried either at fair value or cost at June 30, 2016 and December 31, 2015:
The following table presents the level in the fair value hierarchy for the estimated fair values of only Huntington’s financial instruments that are not already on the Unaudited Condensed Consolidated Balance Sheets at fair value at June 30, 2016 and December 31, 2015:
The short-term nature of certain assets and liabilities result in their carrying value approximating fair value. These include trading account securities, customers’ acceptance liabilities, short-term borrowings, bank acceptances outstanding, FHLB advances, and cash and short-term assets, which include cash and due from banks, interest-bearing deposits in banks, and federal funds sold and securities purchased under resale agreements. Loan commitments and letters-of-credit generally have short-term, variable-rate features and contain clauses that limit Huntington’s exposure to changes in customer credit quality. Accordingly, their carrying values, which are immaterial at the respective balance sheet dates, are reasonable estimates of fair value. Not all the financial instruments listed in the table above are subject to the disclosure provisions of ASC Topic 820. Certain assets, the most significant being operating lease assets, bank owned life insurance, and premises and equipment, do not meet the definition of a financial instrument and are excluded from this disclosure. Similarly, mortgage and nonmortgage servicing rights, deposit base, and other customer relationship intangibles are not considered financial instruments and are not included above. Accordingly, this fair value information is not intended to, and does not, represent Huntington’s underlying value. Many of the assets and liabilities subject to the disclosure requirements are not actively traded, requiring fair values to be estimated by Management. These estimations necessarily involve the use of judgment about a wide variety of factors, including but not limited to, relevancy of market prices of comparable instruments, expected future cash flows, and appropriate discount rates. The following methods and assumptions were used by Huntington to estimate the fair value of the remaining classes of financial instruments: Held-to-maturity securities Fair values are determined by using models that are based on security-specific details, as well as relevant industry and economic factors. The most significant of these inputs are quoted market prices, and interest rate spreads on relevant benchmark securities. Loans and Direct Financing Leases Variable-rate loans that reprice frequently are based on carrying amounts, as adjusted for estimated credit losses. The fair values for other loans and leases are estimated using discounted cash flow analyses and employ interest rates currently being offered for loans and leases with similar terms. The rates take into account the position of the yield curve, as well as an adjustment for prepayment risk, operating costs, and profit. This value is also reduced by an estimate of expected losses and the credit risk associated in the loan and lease portfolio. The valuation of the loan portfolio reflected discounts that Huntington believed are consistent with transactions occurring in the marketplace. Deposits Demand deposits, savings accounts, and money market deposits are, by definition, equal to the amount payable on demand. The fair values of fixed-rate time deposits are estimated by discounting cash flows using interest rates currently being offered on certificates with similar maturities. Debt Long-term debt is based upon quoted market prices, which are inclusive of Huntington’s credit risk. In the absence of quoted market prices, discounted cash flows using market rates for similar debt with the same maturities are used in the determination of fair value. |
DERIVATIVE FINANCIAL INSTRUMENTS |
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DERIVATIVE FINANCIAL INSTRUMENTS | DERIVATIVE FINANCIAL INSTRUMENTS Derivative financial instruments are recorded in the Consolidated Balance Sheet as either an asset or a liability (in accrued income and other assets or accrued expenses and other liabilities, respectively) and measured at fair value. Derivative financial instruments can be designated as accounting hedges under GAAP. Designating a derivative as an accounting hedge allows Huntington to recognize gains and losses, less any ineffectiveness, in the income statement within the same period that the hedged item affects earnings. Gains and losses on derivatives that are not designated to an effective hedge relationship under GAAP immediately impact earnings within the period they occur. Derivatives used in Asset and Liability Management Activities Huntington engages in balance sheet hedging activity, principally for asset liability management purposes, to convert fixed rate assets or liabilities into floating rate or vice versa. Balance sheet hedging activity is arranged to receive hedge accounting treatment and is classified as either fair value or cash flow hedges. Fair value hedges are purchased to convert deposits and subordinated and other long-term debt from fixed-rate obligations to floating rate. Cash flow hedges are also used to convert floating rate loans made to customers into fixed rate loans. The following table presents the gross notional values of derivatives used in Huntington’s asset and liability management activities at June 30, 2016, identified by the underlying interest rate-sensitive instruments:
The following table presents additional information about the interest rate swaps used in Huntington’s asset and liability management activities at June 30, 2016:
These derivative financial instruments were entered into for the purpose of managing the interest rate risk of assets and liabilities. Consequently, net amounts receivable or payable on contracts hedging either interest earning assets or interest bearing liabilities were accrued as an adjustment to either interest income or interest expense. The net amounts resulted in an increase to net interest income of $19 million and $26 million for the three-month periods ended June 30, 2016, and 2015, respectively. For the six-month periods ended June 30, 2016, and 2015, the net amounts resulted in an increase to net interest income of $40 million and $51 million, respectively. In connection with the sale of Huntington’s Class B Visa® shares, Huntington entered into a swap agreement with the purchaser of the shares. The swap agreement adjusts for dilution in the conversion ratio of Class B shares resulting from the Visa® litigation. At June 30, 2016, the fair value of the swap liability of $2 million is an estimate of the exposure liability based upon Huntington’s assessment of the potential Visa® litigation losses. The following table presents the fair values at June 30, 2016 and December 31, 2015 of Huntington’s derivatives that are designated and not designated as hedging instruments. Amounts in the table below are presented gross without the impact of any net collateral arrangements: Asset derivatives included in accrued income and other assets:
Liability derivatives included in accrued expenses and other liabilities:
The changes in fair value of the fair value hedges are, to the extent that the hedging relationship is effective, recorded through earnings and offset against changes in the fair value of the hedged item. The following table presents the change in fair value for derivatives designated as fair value hedges as well as the offsetting change in fair value on the hedged item for the three-month and six-month periods ended June 30, 2016, and 2015:
The following table presents the gains and (losses) recognized in OCI and the location in the Unaudited Condensed Consolidated Statements of Income of gains and (losses) reclassified from OCI into earnings for derivatives designated as effective cash flow hedges:
Reclassified gains and losses on swaps related to loans and investment securities and swaps related to subordinated debt are recorded within interest income and interest expense, respectively. During the next twelve months, Huntington expects to reclassify to earnings $6 million after-tax unrealized gains on cash flow hedging derivatives currently in OCI. To the extent these derivatives are effective in offsetting the variability of the hedged cash flows, changes in the derivatives’ fair value will not be included in current earnings but are reported as a component of OCI in the Unaudited Condensed Consolidated Statements of Shareholders’ Equity. These changes in fair value will be included in earnings of future periods when earnings are also affected by the changes in the hedged cash flows. To the extent these derivatives are not effective, changes in their fair values are immediately included in noninterest income. The following table presents the gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as cash flow hedges for the three and six-month periods ended June 30, 2016 and 2015:
Derivatives used in mortgage banking activities Mortgage loan origination hedging activity Huntington’s mortgage origination hedging activity is related to the hedging of the mortgage pricing commitments to customers and the secondary sale to third parties. The value of a newly originated mortgage is not firm until the interest rate is committed or locked. The interest rate lock commitments are derivative positions offset by forward commitments to sell loans. Huntington uses two types of mortgage-backed securities in its forward commitment to sell loans. The first type of forward commitment is a “To Be Announced” (or TBA), the second is a “Specified Pool” mortgage-backed security. Huntington uses these derivatives to hedge the value of mortgage-backed securities until they are sold. The following table summarizes the derivative assets and liabilities used in mortgage banking activities:
MSR hedging activity Huntington’s MSR economic hedging activity uses securities and derivatives to manage the value of the MSR asset and to mitigate the various types of risk inherent in the MSR asset, including risks related to duration, basis, convexity, volatility, and yield curve. The hedging instruments include forward commitments, interest rate swaps, and options on interest rate swaps. The total notional value of these derivative financial instruments at June 30, 2016 and December 31, 2015, was $0.2 billion and $0.5 billion, respectively. The total notional amount at June 30, 2016, corresponds to trading assets with a fair value of $12 million and no trading liabilities. Net trading gains and (losses) related to MSR hedging for the three-month periods ended June 30, 2016 and 2015, were $6 million and $(9) million, and $18 million and $(4) million for the six-month periods ended June 30, 2016 and 2015, respectively. These amounts are included in mortgage banking income in the Unaudited Condensed Consolidated Statements of Income. Derivatives used in trading activities Various derivative financial instruments are offered to enable customers to meet their financing and investing objectives and for their risk management purposes. Derivative financial instruments used in trading activities consisted of commodity, interest rate, and foreign exchange contracts. The derivative contracts grant the option holder the right to buy or sell an underlying financial instrument for a predetermined price before the contract expires. Huntington may enter into offsetting third-party contracts with approved, reputable counterparties with substantially matching terms and currencies in order to economically hedge significant exposure related to derivatives used in trading activities. The interest rate risk of customer derivatives is mitigated by entering into similar derivatives having offsetting terms with other counterparties. The credit risk to these customers is evaluated and included in the calculation of fair value. Foreign currency derivatives help the customer hedge risk and reduce exposure to fluctuations in exchange rates. Transactions are primarily in liquid currencies with Canadian dollars and Euros comprising a majority of all transactions. The net fair values of these derivative financial instruments, for which the gross amounts are included in accrued income and other assets or accrued expenses and other liabilities at June 30, 2016 and December 31, 2015, were $72 million and $76 million, respectively. The total notional values of derivative financial instruments used by Huntington on behalf of customers, including offsetting derivatives, were $15.0 billion and $14.6 billion at June 30, 2016 and December 31, 2015, respectively. Huntington’s credit risks from interest rate swaps used for trading purposes were $349 million and $224 million at the same dates, respectively. Risk Participation Agreements Huntington periodically enters into risk participation agreement in order to manage credit risk of its derivative positions. These agreements transfer counterparty credit risk related to interest rate swaps to and from other financial institutions. Huntington can mitigate exposure to certain counterparties or take on exposure to generate additional income. Huntington’s notional exposure for interest rate swaps originated by other financial institutions was $400 million and $344 million at June 30, 2016 and December 31, 2015, respectively. Huntington will make payments under these agreements if a customer defaults on its obligation to perform under the terms of the underlying interest rate derivative contract. The amount Huntington will have to pay if all counterparties defaulted on their swap contracts is the fair value of these risk participations, which was $11 million and $6 million at June 30, 2016 and December 31, 2015, respectively. These contracts mature between 2016 and 2043 and are deemed investment grade. Financial assets and liabilities that are offset in the Condensed Consolidated Balance Sheets Huntington records derivatives at fair value as further described in Note 13. Huntington records these derivatives net of any master netting arrangement in the Unaudited Condensed Consolidated Balance Sheets. Collateral agreements are regularly entered into as part of the underlying derivative agreements with Huntington’s counterparties to mitigate counterparty credit risk. All derivatives are carried on the Unaudited Condensed Consolidated Balance Sheets at fair value. Derivative balances are presented on a net basis taking into consideration the effects of legally enforceable master netting agreements. Cash collateral exchanged with counterparties is also netted against the applicable derivative fair values. Huntington enters into derivative transactions with two primary groups: broker-dealers and banks, and Huntington’s customers. Different methods are utilized for managing counterparty credit exposure and credit risk for each of these groups. Huntington enters into transactions with broker-dealers and banks for various risk management purposes. These types of transactions generally are high dollar volume. Huntington enters into bilateral collateral and master netting agreements with these counterparties, and routinely exchange cash and high quality securities collateral with these counterparties. Huntington enters into transactions with customers to meet their financing, investing, payment and risk management needs. These types of transactions generally are low dollar volume. Huntington generally enters into master netting agreements with customer counterparties, however collateral is generally not exchanged with customer counterparties. At June 30, 2016 and December 31, 2015, aggregate credit risk associated with these derivatives, net of collateral that has been pledged by the counterparty, was $28 million and $15 million, respectively. The credit risk associated with interest rate swaps is calculated after considering master netting agreements with broker-dealers and banks. At June 30, 2016, Huntington pledged $138 million of investment securities and cash collateral to counterparties, while other counterparties pledged $111 million of investment securities and cash collateral to Huntington to satisfy collateral netting agreements. In the event of credit downgrades, Huntington would not be required to provide additional collateral. The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Unaudited Condensed Consolidated Balance Sheets at June 30, 2016 and December 31, 2015: Offsetting of Financial Assets and Derivative Assets
Offsetting of Financial Liabilities and Derivative Liabilities
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
VIEs | VIEs Consolidated VIEs Consolidated VIEs at June 30, 2016, consisted of certain loan and lease securitization trusts. Huntington has determined the trusts are VIEs. Huntington has concluded that it is the primary beneficiary of these trusts because it has the power to direct the activities of the entity that most significantly affect the entity’s economic performance and it has either the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. During the 2015 first quarter, Huntington acquired two securitization trusts with its acquisition of Huntington Technology Finance. During the 2016 first quarter, Huntington canceled the Series 2012A Trust. As a result, any remaining assets at the time of the cancellation were no longer part of the trust. The following tables present the carrying amount and classification of the consolidated trusts’ assets and liabilities that were included in the Unaudited Condensed Consolidated Balance Sheets at June 30, 2016 and December 31, 2015:
The loans and leases were designated to repay the securitized notes. Huntington services the loans and leases and uses the proceeds from principal and interest payments to pay the securitized notes during the amortization period. Huntington has not provided financial or other support that was not previously contractually required. Unconsolidated VIEs The following tables provide a summary of the assets and liabilities included in Huntington’s Unaudited Condensed Consolidated Financial Statements, as well as the maximum exposure to losses, associated with its interests related to unconsolidated VIEs for which Huntington holds an interest, but is not the primary beneficiary, to the VIE at June 30, 2016, and December 31, 2015:
2015-1, 2012-1, 2012-2, and 2011 AUTOMOBILE TRUST During the 2015 second quarter, 2012 fourth quarter, 2012 first quarter and 2011 third quarter, we transferred automobile loans totaling $0.8 billion, $1.0 billion, $1.3 billion and $1.0 billion, respectively, to trusts in securitization transactions. The securitizations and the resulting sale of all underlying securities qualified for sale accounting. The interest Huntington holds in the VIEs relates to servicing rights which are included within accrued income and other assets of Huntington’s Unaudited Condensed Consolidated Balance Sheets. The maximum exposure to loss is equal to the carrying value of the servicing asset. During the 2016 first quarter, Huntington canceled the 2012-1 Automobile Trust. As a result, any remaining assets at the time of the cancellation were no longer part of the trust. In July 2016, Huntington has elected to exercise its option to purchase the assets of the 2012-2 Automobile Trust. As a result, any remaining assets at the time of the exercise will no longer be part of the trust. TRUST PREFERRED SECURITIES Huntington has certain wholly-owned trusts whose assets, liabilities, equity, income, and expenses are not included within Huntington’s Unaudited Condensed Consolidated Financial Statements. These trusts have been formed for the sole purpose of issuing trust-preferred securities, from which the proceeds are then invested in Huntington junior subordinated debentures, which are reflected in Huntington’s Unaudited Condensed Consolidated Balance Sheets as subordinated notes. The trust securities are the obligations of the trusts, and as such, are not consolidated within Huntington’s Unaudited Condensed Consolidated Financial Statements. A list of trust preferred securities outstanding at June 30, 2016 follows:
Each issue of the junior subordinated debentures has an interest rate equal to the corresponding trust securities distribution rate. Huntington has the right to defer payment of interest on the debentures at any time, or from time-to-time for a period not exceeding five years provided that no extension period may extend beyond the stated maturity of the related debentures. During any such extension period, distributions to the trust securities will also be deferred and Huntington’s ability to pay dividends on its common stock will be restricted. Periodic cash payments and payments upon liquidation or redemption with respect to trust securities are guaranteed by Huntington to the extent of funds held by the trusts. The guarantee ranks subordinate and junior in right of payment to all indebtedness of the Company to the same extent as the junior subordinated debt. The guarantee does not place a limitation on the amount of additional indebtedness that may be incurred by Huntington. LOW INCOME HOUSING TAX CREDIT PARTNERSHIPS Huntington makes certain equity investments in various limited partnerships that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit (LIHTC) pursuant to Section 42 of the Internal Revenue Code. The purpose of these investments is to achieve a satisfactory return on capital, to facilitate the sale of additional affordable housing product offerings, and to assist in achieving goals associated with the Community Reinvestment Act. The primary activities of the limited partnerships include the identification, development, and operation of multi family housing that is leased to qualifying residential tenants. Generally, these types of investments are funded through a combination of debt and equity. Huntington uses the proportional amortization method to account for a majority of its investments in these entities. These investments are included in accrued income and other assets. Investments that do not meet the requirements of the proportional amortization method are recognized using the equity method. Investment gains/losses related to these investments are included in noninterest-income in the Unaudited Condensed Consolidated Statements of Income. The following table presents the balances of Huntington’s affordable housing tax credit investments and related unfunded commitments at June 30, 2016 and December 31, 2015:
The following table presents other information relating to Huntington’s affordable housing tax credit investments for the three-month and six-month periods ended June 30, 2016 and 2015:
Huntington recognized immaterial impairment losses on tax credit investments during the three-month and six-month periods ended June 30, 2016 and 2015. The impairment losses recognized related to the fair value of the tax credit investments that were less than carrying value. OTHER INVESTMENTS Other investments determined to be VIE’s include investments in Historic Tax Credit Investments, Small Business Investment Companies, Rural Business Investment Companies, certain equity method investments and other miscellaneous investments. |
COMMITMENTS AND CONTINGENT LIABILITIES |
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Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
COMMITMENTS AND CONTINGENT LIABILITIES | COMMITMENTS AND CONTINGENT LIABILITIES Commitments to extend credit In the ordinary course of business, Huntington makes various commitments to extend credit that are not reflected in the Unaudited Condensed Consolidated Financial Statements. The contract amounts of these financial agreements at June 30, 2016 and December 31, 2015, were as follows:
Commitments to extend credit generally have fixed expiration dates, are variable-rate, and contain clauses that permit Huntington to terminate or otherwise renegotiate the contracts in the event of a significant deterioration in the customer’s credit quality. These arrangements normally require the payment of a fee by the customer, the pricing of which is based on prevailing market conditions, credit quality, probability of funding, and other relevant factors. Since many of these commitments are expected to expire without being drawn upon, the contract amounts are not necessarily indicative of future cash requirements. The interest rate risk arising from these financial instruments is insignificant as a result of their predominantly short-term, variable-rate nature. Standby letters-of-credit are conditional commitments issued to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. Most of these arrangements mature within two years. The carrying amount of deferred revenue associated with these guarantees was $8 million and $7 million at June 30, 2016 and December 31, 2015, respectively. Through the Company’s credit process, Huntington monitors the credit risks of outstanding standby letters-of-credit. When it is probable that a standby letter-of-credit will be drawn and not repaid in full, losses are recognized in the provision for credit losses. At June 30, 2016, Huntington had $478 million of standby letters-of-credit outstanding, of which 82% were collateralized. Included in this $478 million total are letters-of-credit issued by the Bank that support securities that were issued by customers and remarketed by The Huntington Investment Company, the Company’s broker-dealer subsidiary. Huntington uses an internal grading system to assess an estimate of loss on its loan and lease portfolio. This same loan grading system is used to monitor credit risk associated with standby letters-of-credit. Under this risk rating system as of June 30, 2016, approximately $156 million of the standby letters-of-credit were rated strong with sufficient asset quality, liquidity, and good debt capacity and coverage; approximately $323 million were rated average with acceptable asset quality, liquidity, and modest debt capacity; and $0 million were rated substandard with negative financial trends, structural weaknesses, operating difficulties, and higher leverage. Commercial letters-of-credit represent short-term, self-liquidating instruments that facilitate customer trade transactions and generally have maturities of no longer than 90 days. The goods or cargo being traded normally secures these instruments. Commitments to sell loans Activity related to our mortgage origination activity supports the hedging of the mortgage pricing commitments to customers and the secondary sale to third parties. At June 30, 2016 and December 31, 2015, Huntington had commitments to sell residential real estate loans of $1.1 billion and $659 million, respectively. These contracts mature in less than one year. Litigation The nature of Huntington’s business ordinarily results in a certain amount of pending as well as threatened claims, litigation, investigations, regulatory and legal and administrative cases, matters and proceedings, all of which are considered incidental to the normal conduct of business. When the Company determines it has meritorious defenses to the claims asserted, it vigorously defends itself. The Company considers settlement of cases when, in Management’s judgment, it is in the best interests of both the Company and its shareholders to do so. On at least a quarterly basis, Huntington assesses its liabilities and contingencies in connection with threatened and outstanding legal cases, matters and proceedings, utilizing the latest information available. For cases, matters and proceedings where it is both probable the Company will incur a loss and the amount can be reasonably estimated, Huntington establishes an accrual for the loss. Once established, the accrual is adjusted as appropriate to reflect any relevant developments. For cases, matters or proceedings where a loss is not probable or the amount of the loss cannot be estimated, no accrual is established. In certain cases, matters and proceedings, exposure to loss exists in excess of the accrual to the extent such loss is reasonably possible, but not probable. Management believes an estimate of the aggregate range of reasonably possible losses, in excess of amounts accrued, for current legal proceedings is from $0 to approximately $50 million at June 30, 2016. For certain other cases, and matters, Management cannot reasonably estimate the possible loss at this time. Any estimate involves significant judgment, given the varying stages of the proceedings (including the fact that many of them are currently in preliminary stages), the existence of multiple defendants in several of the current proceedings whose share of liability has yet to be determined, the numerous unresolved issues in many of the proceedings, and the inherent uncertainty of the various potential outcomes of such proceedings. Accordingly, Management’s estimate will change from time-to-time, and actual losses may be more or less than the current estimate. While the final outcome of legal cases, matters, and proceedings is inherently uncertain, based on information currently available, advice of counsel, and available insurance coverage, Management believes that the amount it has already accrued is adequate and any incremental liability arising from the Company’s legal cases, matters, or proceedings will not have a material negative adverse effect on the Company’s consolidated financial position as a whole. However, in the event of unexpected future developments, it is possible that the ultimate resolution of these cases, matters, and proceedings, if unfavorable, may be material to the Company’s consolidated financial position in a particular period. Cyberco Litigation. Huntington has been named a defendant in two lawsuits, arising from Huntington’s commercial lending, depository, and equipment leasing relationships with Cyberco Holdings, Inc. (Cyberco), based in Grand Rapids, Michigan. In November 2004, an equipment leasing fraud was uncovered, whereby Cyberco sought financing from equipment lessors and financial institutions, including Huntington, allegedly to purchase computer equipment from Teleservices Group, Inc. (Teleservices). Cyberco created fraudulent documentation to close the financing transactions when, in fact, no computer equipment was ever purchased or leased from Teleservices, which later proved to be a shell corporation. Bankruptcy proceedings for both Cyberco and Teleservices later ensued. On March 30, 2012, the U.S. Bankruptcy Court for the Western District of Michigan issued an opinion determining Huntington was the initial transferee of the certain payments made payable to it and was a subsequent transferee of all deposits into Cyberco’s accounts. The Bankruptcy Court ruled Cyberco’s deposits were themselves transfers to Huntington under the Bankruptcy Code, and Huntington was liable for both the payments and the deposits, totaling approximately $73 million. On September 28, 2015, the U.S. District Court for the Western District of Michigan entered a judgment against Huntington in the amount of $72 million plus costs and pre- and post-judgment interest. While Huntington has appealed the decision to the U.S. Sixth Circuit Court of Appeals and plans to continue to aggressively contest the claims of this complex case, Huntington increased its legal reserves by approximately $38 million in the 2015 third quarter to fully accrue for the amount of the judgment. MERSCORP Litigation. Huntington is a defendant in an action filed on January 17, 2012 against MERSCORP, Inc. and numerous other financial institutions that participate in the mortgage electronic registration system (MERS). The putative class action was filed on behalf of all 88 counties in Ohio. The plaintiffs allege that the recording of mortgages and assignments thereof is mandatory under Ohio law and seek a declaratory judgment that the defendants are required to record every mortgage and assignment on real property located in Ohio and pay the attendant statutory recording fees. The complaint also seeks damages, attorney’s fees and costs. Huntington along with the other defendant financial institutions filed a motion to dismiss the complaint, which has been fully briefed, but no ruling has been issued by the Geauga County, Ohio Court of Common Pleas. Similar litigation has been initiated against MERSCORP, Inc. and other financial institutions in other jurisdictions throughout the country, however, Huntington has not been named a defendant in those other cases. On May 17, 2016, the Court granted the defendants’ motion to dismiss. The plaintiffs have filed an appeal, but given the trial court’s decision as well as decisions in similar cases in other jurisdictions, Huntington no longer believes this matter is material and therefore will not include it in subsequent filings. Powell v. Huntington National Bank. Huntington is a defendant in a putative class action filed on October 15, 2013. The plaintiffs filed the action in West Virginia state court on behalf of themselves and other West Virginia mortgage loan borrowers who allege they were charged late fees in violation of West Virginia law and the loan documents. Plaintiffs seek statutory civil penalties, compensatory damages and attorney’s fees. Huntington removed the case to federal court, answered the complaint, and, on January 17, 2014, filed a motion for judgment on the pleadings, asserting that West Virginia law is preempted by federal law and therefore does not apply to Huntington. Following further briefing by the parties, the federal district court denied Huntington’s motion for judgment on the pleadings on September 26, 2014. On June 8, 2015, the Fourth Circuit Court of Appeals granted Huntington’s motion for an interlocutory appeal of the district court’s decision. The matter was briefed and oral argument held, but after the oral argument, the Fourth Circuit dismissed the appeal as improvidently granted and remanded the case back to the district court for further proceedings. The matter is moving forward in the trial court and Huntington has filed an early motion for summary judgment. The discovery stay has been lifted, and plaintiffs have served requests for documents and to take the deposition of Huntington personnel. Trial is now set for January 24, 2017. FirstMerit Merger Shareholder Litigation. Huntington is a defendant in five lawsuits filed in February and March of 2016 in state and federal courts in Ohio relating to the FirstMerit merger. The plaintiffs in each case are FirstMerit shareholders and have filed class action and derivative claims seeking to enjoin the merger. The plaintiffs also claim that the registration statement filed regarding the merger contained material omissions and/or misrepresentations and seek the filing of a revised registration statement, as well as money damages. Specifically as to Huntington, the plaintiffs claim Huntington aided and abetted in alleged breaches of fiduciary duties by the FirstMerit board of directors in approving the merger, and in one complaint, allege that Huntington had direct involvement in making omissions and/or misrepresentations in the registration statement. Huntington is preparing its defense to the complaints. The state court cases have been consolidated and stayed pending the outcome of the federal court cases, and plaintiffs' motion for expedited discovery was denied. The federal court cases have been consolidated and the defendants filed a joint motion to dismiss on numerous grounds. The court stayed discovery pending the outcome of the defendants' motion to dismiss. The plaintiffs filed a motion for preliminary injunction to delay the shareholder vote scheduled for June 13, 2016 on the basis that supplemental disclosures should be provided to the shareholders. A hearing took place on the preliminary injunction motion for Friday, June 10. The parties in the federal court cases have entered into a tentative settlement. The defendants made agreed supplemental disclosures in advance of the shareholder vote in exchange for which plaintiffs agreed to withdraw their preliminary injunction motion and agreed to a release of all claims in the federal and state actions. Approval of the settlement by the federal court will be necessary, and the parties have agreed to limited confirmatory discovery. The plaintiffs in the state court cases did not join in the settlement, and one of them filed a motion to be appointed the lead plaintiff in the state cases, which the federal court has denied. Should the settlement be approved, however, the claims in the state court cases will be released. |
SEGMENT REPORTING |
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SEGMENT REPORTING | SEGMENT REPORTING Our business segments are based on our internally-aligned segment leadership structure, which is how we monitor results and assess performance. We have five major business segments: Retail and Business Banking, Commercial Banking, Automobile Finance and Commercial Real Estate (AFCRE), Regional Banking and The Huntington Private Client Group (RBHPCG), and Home Lending. The Treasury / Other function includes our technology and operations, other unallocated assets, liabilities, revenue, and expense. Business segment results are determined based upon our management reporting system, which assigns balance sheet and income statement items to each of the business segments. The process is designed around our organizational and management structure and, accordingly, the results derived are not necessarily comparable with similar information published by other financial institutions. Additionally, because of the interrelationships of the various segments, the information presented is not indicative of how the segments would perform if they operated as independent entities. Revenue is recorded in the business segment responsible for the related product or service. Fee sharing is recorded to allocate portions of such revenue to other business segments involved in selling to, or providing service to customers. Results of operations for the business segments reflect these fee sharing allocations. The management accounting process that develops the business segment reporting utilizes various estimates and allocation methodologies to measure the performance of the business segments. Expenses are allocated to business segments using a two-phase approach. The first phase consists of measuring and assigning unit costs (activity-based costs) to activities related to product origination and servicing. These activity-based costs are then extended, based on volumes, with the resulting amount allocated to business segments that own the related products. The second phase consists of the allocation of overhead costs to all five business segments from Treasury / Other. We utilize a full-allocation methodology, where all Treasury / Other expenses, except reported Significant Items, and a small amount of other residual unallocated expenses, are allocated to the five business segments. We use an active and centralized Funds Transfer Pricing (FTP) methodology to attribute appropriate income to the business segments. The intent of the FTP methodology is to transfer interest rate risk from the business segments by providing matched duration funding of assets and liabilities. The result is to centralize the financial impact, management, and reporting of interest rate risk in the Treasury / Other function where it can be centrally monitored and managed. The Treasury / Other function charges (credits) an internal cost of funds for assets held in (or pays for funding provided by) each business segment. The FTP rate is based on prevailing market interest rates for comparable duration assets (or liabilities). Retail and Business Banking - The Retail and Business Banking segment provides a wide array of financial products and services to consumer and small business customers including but not limited to checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans. Other financial services available to consumer and small business customers include investments, insurance, interest rate risk protection, foreign exchange, and treasury management. Business Banking is defined as serving companies with revenues up to $20 million and consists of approximately 165,000 businesses. Commercial Banking - Through a relationship banking model, this segment provides a wide array of products and services to the middle market, large corporate, and government public sector customers located primarily within our geographic footprint. The segment is divided into seven business units: middle market, large corporate, specialty banking, asset finance, capital markets, treasury management, and insurance. Automobile Finance and Commercial Real Estate - This segment provides lending and other banking products and services to customers outside of our traditional retail and commercial banking segments. Our products and services include providing financing for the purchase of vehicles by customers at franchised automotive dealerships, financing the acquisition of new and used vehicle inventory of franchised automotive dealerships, and financing for land, buildings, and other commercial real estate owned or constructed by real estate developers, automobile dealerships, or other customers with real estate project financing needs. Products and services are delivered through highly specialized relationship-focused bankers and product partners. Regional Banking and The Huntington Private Client Group - Regional Banking and The Huntington Private Client Group is closely aligned with our eleven regional banking markets. The Huntington Private Client Group is organized into units consisting of The Huntington Private Bank, The Huntington Trust, and The Huntington Investment Company. Our private banking, trust, and investment functions focus their efforts in our Midwest footprint and Florida. Home Lending - Home Lending originates and services consumer loans and mortgages for customers who are generally located in our primary banking markets. Consumer and mortgage lending products are primarily distributed through the Retail and Business Banking segment, as well as through commissioned loan originators. Home lending earns interest on loans held in the warehouse and portfolio, earns fee income from the origination and servicing of mortgage loans, and recognizes gains or losses from the sale of mortgage loans. Home Lending supports the origination and servicing of mortgage loans across all segments. Listed below is certain operating basis financial information reconciled to Huntington’s June 30, 2016, December 31, 2015, and June 30, 2015, reported results by business segment:
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ACCOUNTING STANDARDS UPDATE (Policies) |
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New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
ACCOUNTING STANDARDS UPDATE | ACCOUNTING STANDARDS UPDATE ASU 2014-09 - Revenue from Contracts with Customers (Topic 606): The amendments in ASU 2014-09 supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The general principle of the amendments require an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance sets forth a five step approach to be utilized for revenue recognition. The amendments were originally effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Subsequently, the FASB issued a one-year deferral for implementation, which results in new guidance being effective for annual and interim reporting periods beginning after December 15, 2017. The FASB, however, permitted adoption of the new guidance on the original effective date. Management is currently assessing the impact on Huntington’s Unaudited Condensed Consolidated Financial Statements. ASU 2015-02 - Consolidation (Topic 810): Amendments to the Consolidation Analysis. This Update provides a new scope exception for registered money market funds and similar unregistered money market funds, provides targeted amendments to the current consolidation guidance, and ends the deferral granted to investment companies from applying the variable interest entity accounting guidance. This amendment was effective during the current reporting period and did not have a significant impact on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2015-03 - Imputation of Interest (Topic 835): Simplifying the Presentation of Debt Issuance Costs. This Update was issued to simplify the presentation of debt issuance costs. The amendments require debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction to the carrying amount of that debt liability, consistent with debt discounts. The amendment was effective during the current reporting period. Amounts reclassified in the prior periods were immaterial to Huntington’s Unaudited Condensed Consolidated Financial Statements. For more information, refer to Note 8 “Long-Term Debt”. ASU 2015-10 - Technical Corrections and Improvements. This Update sets forth certain technical corrections and improvements issued in June 2015 with an objective to clarify the Accounting Standards Codification (“Codification”), correct unintended application of guidance, or make minor improvements to the ASU, among other things, requires disclosure of fair value for non-recurring items at the relevant measurement date where the fair value is not measured at the end of the reporting period. Also, for nonrecurring measurements estimated at a date during the reporting period other than the end of the reporting period, a reporting entity is required to clearly indicate that the fair value information presented is not as of the period’s end. The technical correction for fair value disclosure was effective upon issuance and did not have a significant impact on Huntington’s Unaudited Condensed Consolidated Financial Statements. ASU 2015-16 - Simplifying the Accounting for Measurement-Period Adjustments. This Update requires an acquirer to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The acquirer is required to record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The amendments also require an entity to present separately on the face of the income statement, or disclose in the notes, the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. This Update was effective for the current reporting period and did not have a significant impact on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2016-01 - Recognition and Measurement of Financial Assets and Financial Liabilities. This Update sets forth targeted improvements to GAAP including, but not limited to, requiring an entity to recognize the changes in fair value of equity investments in the income statement, requiring public business entities to use the exit price when measuring the fair value of financial instruments for financial statement disclosure purposes, eliminating certain disclosures required by existing GAAP, and providing for additional disclosures. The Update is effective for the fiscal period beginning after December 15, 2017, including interim periods within those fiscal years. A cumulative-effect adjustment to the balance sheet will be required as of the beginning of the fiscal year upon adoption. The Update is not expected to have a significant impact on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2016-02 - Leases. This Update sets forth a new lease accounting model for lessors and lessees. For lessees, all leases will be required to be recognized on the balance sheet by recording a right-of-use asset. Subsequent accounting for leases varies depending on whether the lease is an operating lease or a finance lease. The accounting applied by a lessor is largely unchanged from that applied under the existing guidance. The ASU requires additional qualitative and quantitative disclosures with the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The Update is effective for the fiscal period beginning after December 15, 2018, with early application permitted. Management is currently assessing the impact of the new guidance on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2016-05 - Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships. This Update provides accounting clarification for changes in the counterparty to a derivative instrument that has been designated as a qualified hedging instrument. Specifically, changes in the derivative counterparty should not, in and of itself, require de-designation of that hedging relationship provided that all other hedge accounting criteria continue to be met. This Update is effective for financial statements issued for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early application is permitted. An entity has an option to apply the amendments in this Update on either a prospective basis or a modified retrospective basis. Management does not believe the new guidance will have a significant impact on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2016-06 - Contingent Put and Call Options in Debt Instruments. This Update clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt instruments. An entity performing the assessment set forth in this Update will be required to assess embedded call (put) options solely in accordance with the four-step decision sequence. This Update is effective for financial statements issued for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early adoption is permitted. An entity should apply this Update on a modified retrospective basis to existing debt instruments as of the beginning of the fiscal year for which the amendments are effective. This Update is not expected to have a significant impact on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2016-07 - Simplifying the Transition to the Equity Method of Accounting. This Update eliminates the requirement for the retrospective use of the equity method of accounting as a result of an increase in the level of ownership interest or degree of influence of an investor. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for the equity method accounting. This Update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The amendments are not expected to have a significant impact on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2016-09 - Improvements to Employee Share-Based Payment Accounting. This Update simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification in the statement of cash flows. The amendments, among other things, require all tax benefits and tax deficiencies related to share-based award to be recognized in the income statement. Other changes include an election related to the accounting for forfeitures, changes to the cash flow statement presentation for excess tax benefits, as well as for cash paid by an employer when directly withholding shares for tax withholding purposes. The amendments are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted for any entity in any interim or annual period. Management is currently assessing the impact of this Update on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2016-13 - Financial Instruments - Credit Losses. The amendments in this Update eliminate the probable initial recognition threshold for credit losses on financial assets measured at amortized cost basis. The Update requires those financial assets to be presented at the net amount expected to be collected (i.e., net of expected credit losses). The measurement of expected credit losses should be based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount. The Update is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018. The amendments should be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. Management is currently assessing the impact of this Update on Huntington's Unaudited Condensed Consolidated Financial Statements. |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES (Tables) |
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Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan and Lease Portfolio | The following table provides a detailed listing of Huntington’s loan and lease portfolio at June 30, 2016 and December 31, 2015:
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Loans acquired with deteriorated credit quality | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan Purchases and Sales | The following table summarizes significant portfolio loan purchase and sale activity for the three-month and six-month periods ended June 30, 2016 and 2015. The table below excludes mortgage loans originated for sale.
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NALs and Past Due Loans | The following table presents NALs by loan class at June 30, 2016 and December 31, 2015:
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Aging analysis of loans and leases | The following table presents an aging analysis of loans and leases, including past due loans, by loan class at June 30, 2016 and December 31, 2015: (1)
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ALLL and AULC activity by portfolio segment | The following table presents ALLL and AULC activity by portfolio segment for the three-month and six-month periods ended June 30, 2016 and 2015:
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Loan and lease balances by credit quality indicator | The following table presents each loan and lease class by credit quality indicator at June 30, 2016 and December 31, 2015:
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Summarized data for impaired loans and the related ALLL by portfolio segment | The following tables present the balance of the ALLL attributable to loans by portfolio segment individually and collectively evaluated for impairment and the related loan and lease balance at June 30, 2016 and December 31, 2015:
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Detailed impaired loan information by class | The following tables present by class the ending, unpaid principal balance, and the related ALLL, along with the average balance and interest income recognized only for loans and leases individually evaluated for impairment and purchased credit-impaired loans: (1), (2)
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Detailed troubled debt restructuring information by class | The following tables present by class and by the reason for the modification, the number of contracts, post-modification outstanding balance, and the financial effects of the modification for the three-month and six-month periods ended June 30, 2016 an 2015:
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AVAILABLE-FOR-SALE AND OTHER SECURITIES (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractual maturities of investment securities | Listed below are the contractual maturities (1 year or less, 1-5 years, 6-10 years, and over 10 years) of available-for-sale and other securities at June 30, 2016 and December 31, 2015:
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Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | The following tables provide amortized cost, fair value, and gross unrealized gains and losses recognized in OCI by investment category at June 30, 2016 and December 31, 2015:
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Available for sale securities in an unrealized loss position table text block | The following tables provide detail on investment securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position, at June 30, 2016 and December 31, 2015:
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Realized securities gains and losses | The following table is a summary of realized securities gains and losses for the three-month and six-month periods ended June 30, 2016 and 2015:
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Trust Preferred Securities Data | The following table summarizes the relevant characteristics of our CDO securities portfolio, which are included in asset-backed securities, at June 30, 2016. Each security is part of a pool of issuers and supports a more senior tranche of securities except for the MM Comm III securities which are the most senior class. Collateralized Debt Obligation Data June 30, 2016 (dollar amounts in thousands)
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Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | For the three-month and six-month periods ended June 30, 2016 and 2015, the following table summarizes by security type the total OTTI losses recognized in the Unaudited Condensed Consolidated Statements of Income for securities evaluated for impairment as described above.
The following table rolls forward the OTTI recognized in earnings on debt securities held by Huntington for the three-month and six-month periods ended June 30, 2016 and 2015 as follows:
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HELD-TO-MATURITY SECURITIES (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Held-to-maturity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractual maturities of held-to-maturity securities | Listed below are the contractual maturities (1 year or less, 1-5 years, 6-10 years, and over 10 years) of held-to-maturity securities at June 30, 2016 and December 31, 2015:
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Amortized cost, gross unrealized gains and losses, and fair value by investment category | The following table provides amortized cost, gross unrealized gains and losses, and fair value by investment category at June 30, 2016 and December 31, 2015:
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Investment securities in an unrealized loss position | The following tables provide detail on held-to-maturity securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position, at June 30, 2016 and December 31, 2015:
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LOAN SALES AND SECURITIZATIONS (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers and Servicing [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summarizes activity relating to loans securitized sold with servicing retained | The following table summarizes activity relating to residential mortgage loans sold with servicing retained for the three-month and six-month periods ended June 30, 2016 and 2015:
The following table summarizes activity relating to SBA loans sold with servicing retained for the three-month and six-month periods ended June 30, 2016 and 2015:
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Summarizes activity relating to loans sold with servicing retained using the fair value method | The following tables summarize the changes in MSRs recorded using either the fair value method or the amortization method for the three-month and six-month periods ended June 30, 2016 and 2015:
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Summarizes activity relating to loans sold with servicing retained using the amortization method | Changes in the carrying value of automobile loan servicing rights for the three-month and six-month periods ended June 30, 2016 and 2015, and the fair value at the end of each period were as follows:
The following tables summarize the changes in the carrying value of the servicing asset for the three-month and six-month periods ended June 30, 2016 and 2015, and the fair value at the end of each period were as follows:
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Summary of key assumptions and the sensitivity of the servicing rights value to changes in the assumptions | A summary of key assumptions and the sensitivity of the SBA loan servicing rights value to changes in these assumptions at June 30, 2016 and December 31, 2015 follows:
For MSRs under the fair value method, a summary of key assumptions and the sensitivity of the MSR value at June 30, 2016 and December 31, 2015, to changes in these assumptions follows:
For MSRs under the amortization method, a summary of key assumptions and the sensitivity of the MSR value at June 30, 2016 and December 31, 2015, to changes in these assumptions follows:
A summary of key assumptions and the sensitivity of the automobile loan servicing rights value to changes in these assumptions at June 30, 2016 and December 31, 2015 follows:
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OTHER COMPREHENSIVE INCOME (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of other comprehensive income | The components of other comprehensive income for the three-month and six-month periods ended June 30, 2016 and 2015, were as follows:
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Activity in accumulated other comprehensive income, net of tax | The following table presents activity in accumulated other comprehensive income (loss), net of tax, for the six-month periods ended June 30, 2016 and 2015:
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Reclassification Out Of Accumulated OCI | The following table presents the reclassification adjustments out of accumulated OCI included in net income and the impacted line items as listed on the Unaudited Condensed Consolidated Statements of Income for the three-month and six-month periods ended June 30, 2016 and 2015:
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EARNINGS PER SHARE (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basic and diluted earnings loss per share | The calculation of basic and diluted earnings per share for three and six-month periods ended June 30, 2016 and 2015, was as follows:
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BENEFIT PLANS (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Net Benefit Costs | The following table shows the components of net periodic benefit expense of the Plan and the Post-Retirement Benefit Plan:
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Schedule of Allocation of Plan Assets | Bank, as trustee, held all Plan assets at June 30, 2016 and December 31, 2015. The Plan assets consisted of the following investments:
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Schedule of Costs of Retirement Plans | following table shows the costs of providing the SERP, SRIP, and defined contribution plans:
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FAIR VALUES OF ASSETS AND LIABILITIES (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis | Assets and Liabilities measured at fair value on a recurring basis Assets and liabilities measured at fair value on a recurring basis at June 30, 2016 and December 31, 2015 are summarized below:
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Rollforward of financial instruments measured on a recurring basis and classified as Level 3 |
(1) Transfers out of Level 3 represent the settlement value of the derivative instruments (i.e. interest rate lock agreements) that is transferred to loans held for sale, which is classified as Level 2.
(1) Transfers out of Level 3 represent the settlement value of the derivative instruments (i.e. interest rate lock agreements) that is transferred to loans held for sale, which is classified as Level 2.
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Classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities | The tables below summarize the classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities for the three-month and six-month periods ended June 30, 2016 and 2015:
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Assets and liabilities under the fair value option | The following table presents the fair value and aggregate principal balance of certain assets and liabilities under the fair value option:
The following tables present the net gains (losses) from fair value changes, including net gains (losses) associated with instrument specific credit risk for the three-month and six-month periods ended June 30, 2016 and 2015:
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Assets measured at fair value on a nonrecurring basis | Assets measured at fair value on a nonrecurring basis were as follows:
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Quantitative information about significant unobservable level 3 fair value measurement inputs |
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Carrying amounts and estimated fair values of financial instruments | The following table provides the carrying amounts and estimated fair values of Huntington’s financial instruments that are carried either at fair value or cost at June 30, 2016 and December 31, 2015:
The following table presents the level in the fair value hierarchy for the estimated fair values of only Huntington’s financial instruments that are not already on the Unaudited Condensed Consolidated Balance Sheets at fair value at June 30, 2016 and December 31, 2015:
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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross notional values of derivatives used in asset and liability management activities | The following table presents the gross notional values of derivatives used in Huntington’s asset and liability management activities at June 30, 2016, identified by the underlying interest rate-sensitive instruments:
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Additional information about the interest rate swaps used in asset and liability management activities | The following table presents additional information about the interest rate swaps used in Huntington’s asset and liability management activities at June 30, 2016:
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Asset and liability derivatives included in accrued income and other assets | The following table presents the fair values at June 30, 2016 and December 31, 2015 of Huntington’s derivatives that are designated and not designated as hedging instruments. Amounts in the table below are presented gross without the impact of any net collateral arrangements: Asset derivatives included in accrued income and other assets:
Liability derivatives included in accrued expenses and other liabilities:
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Increase or (decrease) to interest expense for derivatives designated as fair value hedges | The following table presents the change in fair value for derivatives designated as fair value hedges as well as the offsetting change in fair value on the hedged item for the three-month and six-month periods ended June 30, 2016, and 2015:
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Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | The following table presents the gains and (losses) recognized in OCI and the location in the Unaudited Condensed Consolidated Statements of Income of gains and (losses) reclassified from OCI into earnings for derivatives designated as effective cash flow hedges:
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Gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as fair value and cash flow hedges | The following table presents the gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as cash flow hedges for the three and six-month periods ended June 30, 2016 and 2015:
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Derivative assets and liabilities used in mortgage banking activities [Table Text Block] | The following table summarizes the derivative assets and liabilities used in mortgage banking activities:
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Offsetting of financial liabilities and derivative liabilities | Offsetting of Financial Liabilities and Derivative Liabilities
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Offsetting of financial assets and derivatives assets | The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Unaudited Condensed Consolidated Balance Sheets at June 30, 2016 and December 31, 2015: Offsetting of Financial Assets and Derivative Assets
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VIEs (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying amount and classification of the trusts assets and liabilities | The following tables provide a summary of the assets and liabilities included in Huntington’s Unaudited Condensed Consolidated Financial Statements, as well as the maximum exposure to losses, associated with its interests related to unconsolidated VIEs for which Huntington holds an interest, but is not the primary beneficiary, to the VIE at June 30, 2016, and December 31, 2015:
The following tables present the carrying amount and classification of the consolidated trusts’ assets and liabilities that were included in the Unaudited Condensed Consolidated Balance Sheets at June 30, 2016 and December 31, 2015:
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Summary of Outstanding Trust Preferred Securities | A list of trust preferred securities outstanding at June 30, 2016 follows:
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Affordable housing tax credit investments | The following table presents the balances of Huntington’s affordable housing tax credit investments and related unfunded commitments at June 30, 2016 and December 31, 2015:
The following table presents other information relating to Huntington’s affordable housing tax credit investments for the three-month and six-month periods ended June 30, 2016 and 2015:
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COMMITMENTS AND CONTINGENT LIABILITIES (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contract amounts of various commitments to extend credit | In the ordinary course of business, Huntington makes various commitments to extend credit that are not reflected in the Unaudited Condensed Consolidated Financial Statements. The contract amounts of these financial agreements at June 30, 2016 and December 31, 2015, were as follows:
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SEGMENT REPORTING (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | Listed below is certain operating basis financial information reconciled to Huntington’s June 30, 2016, December 31, 2015, and June 30, 2015, reported results by business segment:
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Segment Disclosure of Assets and Deposits |
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BUSINESS COMBINATIONS BUSINESS COMBINATIONS (Details) $ / shares in Units, $ in Thousands |
3 Months Ended | ||
---|---|---|---|
Sep. 30, 2016
USD ($)
$ / shares
|
Jun. 30, 2016
USD ($)
|
Dec. 31, 2015
USD ($)
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Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract] | |||
Goodwill | $ 676,869 | $ 676,869 | |
Subsequent Event [Member] | Scenario, Forecast [Member] | FirstMerit Bank [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Consideration Transferred | $ 3,400,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract] | |||
Business Acquisition, Assets Reported by Acquired Entity for Last Annual Period | $ 25,500,000 | ||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Per Share | 1.72 | ||
Business Combination, Consideration Transferred, Cash Paid for Each Share of Acquired Entity's Shares | $ / shares | $ 5.00 |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Narrative (Details) |
3 Months Ended | 6 Months Ended | |||||
---|---|---|---|---|---|---|---|
Jun. 30, 2016
USD ($)
reserve
component
|
Jun. 30, 2016
USD ($)
reserve
securitization
component
|
Mar. 31, 2016
USD ($)
|
Dec. 31, 2015
USD ($)
|
Jun. 30, 2015
USD ($)
|
Mar. 31, 2015
USD ($)
|
Dec. 31, 2014
USD ($)
|
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans and leases receivable net premium | $ 270,000,000 | $ 270,000,000 | $ 262,000,000 | ||||
Allowance for loan and lease losses | $ 623,064,000 | $ 623,064,000 | $ 613,719,000 | 597,843,000 | $ 599,542,000 | $ 605,126,000 | $ 605,196,000 |
Number of days past due | 30 days | ||||||
Allowance number of reserves | reserve | 2 | 2 | |||||
Allowance number of components of reserve | component | 2 | 2 | |||||
Collateral for secured borrowings | $ 18,000,000,000 | $ 18,000,000,000 | |||||
Macquarie Equipment Finance | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Collateral for secured borrowings | 106,000,000 | $ 106,000,000 | |||||
Number of securitizations acquired | securitization | 2 | ||||||
Commercial Real Estate | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan and lease losses | 101,042,000 | $ 101,042,000 | 102,074,000 | 100,007,000 | 92,060,000 | 100,752,000 | 102,839,000 |
Threshold period past due for nonperforming status | 90 days | ||||||
Threshold outstanding balance for quarterly impairment evaluation | $ 1,000,000.0 | ||||||
Threshold period past due for write-off | 90 days | ||||||
Other Consumer | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan and lease losses | 29,152,000 | $ 29,152,000 | 24,302,000 | 24,269,000 | 20,482,000 | 17,016,000 | 38,272,000 |
Threshold period past due for nonperforming status | 120 days | ||||||
Threshold period past due for write-off | 120 days | ||||||
Commercial and Industrial | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan and lease losses | $ 323,465,000 | $ 323,465,000 | 320,367,000 | 298,746,000 | 285,041,000 | 284,573,000 | 286,995,000 |
Threshold period past due for nonperforming status | 90 days | ||||||
Threshold outstanding balance for quarterly impairment evaluation | $ 1,000,000.0 | ||||||
Threshold period past due for write-off | 90 days | ||||||
Residential Mortgage | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan and lease losses | $ 42,392,000 | $ 42,392,000 | 40,842,000 | 41,646,000 | 51,679,000 | 55,380,000 | 47,211,000 |
Threshold period past due for nonperforming status | 150 days | ||||||
Threshold period past due for write-off | 150 days | ||||||
Home Equity | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan and lease losses | $ 76,482,000 | $ 76,482,000 | 78,102,000 | 83,671,000 | 111,178,000 | 110,280,000 | 96,413,000 |
Automobile | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan and lease losses | $ 50,531,000 | $ 50,531,000 | $ 48,032,000 | $ 49,504,000 | $ 39,102,000 | $ 37,125,000 | $ 33,466,000 |
Threshold period past due for nonperforming status | 120 days | ||||||
Threshold period past due for write-off | 120 days | ||||||
Secured by first-lien | Home Equity | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Threshold period past due for nonperforming status | 150 days | ||||||
Threshold period past due for write-off | 150 days | ||||||
Secured by junior-lien | Home Equity | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Threshold period past due for nonperforming status | 120 days | ||||||
Threshold period past due for write-off | 120 days |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Loan and Lease Portfolio Composition (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
||
---|---|---|---|---|---|---|---|---|
Loan and Lease Portfolio | ||||||||
Commercial and industrial | $ 21,372,474 | $ 20,559,834 | ||||||
Commercial real estate | 5,322,068 | 5,268,651 | ||||||
Automobile | 10,380,644 | 9,480,678 | ||||||
Home equity | 8,447,066 | 8,470,482 | ||||||
Residential mortgage | 6,377,017 | 5,998,400 | ||||||
Other consumer | 644,152 | 563,054 | ||||||
Loans and leases | [1] | 52,543,421 | 50,341,099 | |||||
Allowance for loan and lease losses | (623,064) | $ (613,719) | (597,843) | $ (599,542) | $ (605,126) | $ (605,196) | ||
Net loans and leases | $ 51,920,357 | $ 49,743,256 | ||||||
|
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Loan Purchases and Sales (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Dec. 31, 2015 |
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Significant Purchases | $ 36,867 | $ 34,659 | $ 341,985 | $ 51,133 | |
Financing Receivable, Significant Sales | 96,278 | 100,202 | 240,797 | 950,442 | |
Loans and leases receivable net premium | 270,000 | 270,000 | $ 262,000 | ||
Commercial and Industrial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Significant Purchases | 35,198 | 31,905 | 338,172 | 44,496 | |
Financing Receivable, Significant Sales | 96,278 | 100,202 | 240,797 | 185,902 | |
Commercial Real Estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Significant Purchases | 0 | 0 | 0 | 0 | |
Financing Receivable, Significant Sales | 0 | 0 | 0 | 0 | |
Automobile | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Significant Purchases | 0 | 0 | 0 | 0 | |
Financing Receivable, Significant Sales | 1,000,000 | ||||
Financing Receivable, Significant Sales | 0 | 0 | 0 | 764,540 | |
Home Equity | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Significant Purchases | 0 | 0 | 0 | 0 | |
Financing Receivable, Significant Sales | 0 | 0 | 0 | 0 | |
Residential Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Significant Purchases | 1,669 | 2,754 | 3,813 | 6,637 | |
Financing Receivable, Significant Sales | 0 | 0 | 0 | 0 | |
Other Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Significant Purchases | 0 | 0 | 0 | 0 | |
Financing Receivable, Significant Sales | $ 0 | $ 0 | $ 0 | $ 0 |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Nonaccrual Loans by Loan Class (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | $ 460,547 | $ 371,581 |
Commercial and Industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 289,811 | 175,195 |
Commercial and Industrial | Owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 27,624 | 35,481 |
Commercial and Industrial | Other commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 262,187 | 139,714 |
Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 23,663 | 28,984 |
Commercial Real Estate | Retail properties | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 2,345 | 7,217 |
Commercial Real Estate | Multi-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 5,819 | 5,819 |
Commercial Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 10,742 | 10,495 |
Commercial Real Estate | Industrial and warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 1,864 | 2,202 |
Commercial Real Estate | Other commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 2,893 | 3,251 |
Automobile | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 5,049 | 6,564 |
Home Equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 56,845 | 66,278 |
Home Equity | Secured by first-lien | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 33,279 | 35,389 |
Home Equity | Secured by junior-lien | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 23,566 | 30,889 |
Residential Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 85,174 | 94,560 |
Other Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | $ 5 | $ 0 |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - NALs Past Due (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
||
---|---|---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | $ 533,061 | $ 609,579 | ||
Current | 52,010,360 | 49,731,520 | ||
Loans and leases | [1] | 52,543,421 | 50,341,099 | |
90 or more days past due and accruing | 98,579 | 105,790 | ||
Amount guaranteed by government | 56,000 | 56,000 | ||
30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 205,253 | 269,219 | ||
60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 78,313 | 87,321 | ||
90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 249,495 | 253,039 | ||
Commercial and Industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 89,943 | 105,273 | ||
Current | 21,282,531 | 20,454,561 | ||
Loans and leases | 21,372,474 | 20,559,834 | ||
90 or more days past due and accruing | 5,616 | 8,724 | ||
Commercial and Industrial | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 20,257 | 44,715 | ||
Commercial and Industrial | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 10,737 | 13,580 | ||
Commercial and Industrial | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 58,949 | 46,978 | ||
Commercial and Industrial | Purchased credit-impaired | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 4,100 | 7,677 | ||
Current | 5,076 | 13,340 | ||
Loans and leases | 9,176 | 21,017 | ||
90 or more days past due and accruing | 3,750 | 5,949 | ||
Commercial and Industrial | Purchased credit-impaired | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 178 | 292 | ||
Commercial and Industrial | Purchased credit-impaired | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 172 | 1,436 | ||
Commercial and Industrial | Purchased credit-impaired | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 3,750 | 5,949 | ||
Commercial and Industrial | Owner occupied | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 17,258 | 29,353 | ||
Current | 3,934,039 | 3,983,447 | ||
Loans and leases | 3,951,297 | 4,012,800 | ||
90 or more days past due and accruing | 0 | 0 | ||
Commercial and Industrial | Owner occupied | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 3,143 | 11,947 | ||
Commercial and Industrial | Owner occupied | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 3,336 | 3,613 | ||
Commercial and Industrial | Owner occupied | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 10,779 | 13,793 | ||
Commercial and Industrial | Other commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 68,585 | 68,243 | ||
Current | 17,343,416 | 16,457,774 | ||
Loans and leases | 17,412,001 | 16,526,017 | ||
90 or more days past due and accruing | 1,866 | 2,775 | ||
Commercial and Industrial | Other commercial and industrial | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 16,936 | 32,476 | ||
Commercial and Industrial | Other commercial and industrial | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 7,229 | 8,531 | ||
Commercial and Industrial | Other commercial and industrial | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 44,420 | 27,236 | ||
Commercial Real Estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 30,047 | 36,619 | ||
Current | 5,292,021 | 5,232,032 | ||
Loans and leases | 5,322,068 | 5,268,651 | ||
90 or more days past due and accruing | 10,799 | 9,549 | ||
Commercial Real Estate | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 1,100 | 9,232 | ||
Commercial Real Estate | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 2,320 | 5,721 | ||
Commercial Real Estate | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 26,627 | 21,666 | ||
Commercial Real Estate | Purchased credit-impaired | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 11,134 | 13,469 | ||
Current | 5,939 | 289 | ||
Loans and leases | 17,073 | 13,758 | ||
90 or more days past due and accruing | 10,799 | 9,549 | ||
Commercial Real Estate | Purchased credit-impaired | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 0 | 102 | ||
Commercial Real Estate | Purchased credit-impaired | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 335 | 3,818 | ||
Commercial Real Estate | Purchased credit-impaired | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 10,799 | 9,549 | ||
Commercial Real Estate | Retail properties | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 1,095 | 5,655 | ||
Current | 1,600,914 | 1,501,054 | ||
Loans and leases | 1,602,009 | 1,506,709 | ||
90 or more days past due and accruing | 0 | 0 | ||
Commercial Real Estate | Retail properties | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 86 | 1,823 | ||
Commercial Real Estate | Retail properties | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 199 | 195 | ||
Commercial Real Estate | Retail properties | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 810 | 3,637 | ||
Commercial Real Estate | Multi-family | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 3,201 | 4,789 | ||
Current | 999,638 | 1,073,429 | ||
Loans and leases | 1,002,839 | 1,078,218 | ||
90 or more days past due and accruing | 0 | 0 | ||
Commercial Real Estate | Multi-family | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 507 | 961 | ||
Commercial Real Estate | Multi-family | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 802 | 1,137 | ||
Commercial Real Estate | Multi-family | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 1,892 | 2,691 | ||
Commercial Real Estate | Office | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 10,559 | 8,294 | ||
Current | 845,284 | 886,331 | ||
Loans and leases | 855,843 | 894,625 | ||
90 or more days past due and accruing | 0 | 0 | ||
Commercial Real Estate | Office | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 0 | 5,022 | ||
Commercial Real Estate | Office | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 40 | 256 | ||
Commercial Real Estate | Office | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 10,519 | 3,016 | ||
Commercial Real Estate | Industrial and warehouse | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 1,374 | 466 | ||
Current | 490,912 | 503,701 | ||
Loans and leases | 492,286 | 504,167 | ||
90 or more days past due and accruing | 0 | 0 | ||
Commercial Real Estate | Industrial and warehouse | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 156 | 93 | ||
Commercial Real Estate | Industrial and warehouse | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 324 | 0 | ||
Commercial Real Estate | Industrial and warehouse | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 894 | 373 | ||
Commercial Real Estate | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 2,684 | 3,946 | ||
Current | 1,349,334 | 1,267,228 | ||
Loans and leases | 1,352,018 | 1,271,174 | ||
90 or more days past due and accruing | 0 | 0 | ||
Commercial Real Estate | Other commercial real estate | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 351 | 1,231 | ||
Commercial Real Estate | Other commercial real estate | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 620 | 315 | ||
Commercial Real Estate | Other commercial real estate | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 1,713 | 2,400 | ||
Automobile | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 81,477 | 91,864 | ||
Current | 10,299,167 | 9,388,814 | ||
Loans and leases | 10,380,644 | 9,480,678 | ||
90 or more days past due and accruing | 5,452 | 7,162 | ||
Automobile | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 61,988 | 69,553 | ||
Automobile | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 13,900 | 14,965 | ||
Automobile | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 5,589 | 7,346 | ||
Home Equity | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 87,503 | 109,682 | ||
Current | 8,359,563 | 8,360,800 | ||
Loans and leases | 8,447,066 | 8,470,482 | ||
90 or more days past due and accruing | 7,579 | 9,044 | ||
Home Equity | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 27,825 | 36,477 | ||
Home Equity | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 13,852 | 16,905 | ||
Home Equity | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 45,826 | 56,300 | ||
Home Equity | Secured by first-lien | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 43,884 | 52,229 | ||
Current | 5,198,668 | 5,139,256 | ||
Loans and leases | 5,242,552 | 5,191,485 | ||
90 or more days past due and accruing | 4,775 | 4,499 | ||
Home Equity | Secured by first-lien | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 12,311 | 18,349 | ||
Home Equity | Secured by first-lien | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 7,008 | 7,576 | ||
Home Equity | Secured by first-lien | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 24,565 | 26,304 | ||
Home Equity | Secured by junior-lien | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 43,619 | 57,453 | ||
Current | 3,160,895 | 3,221,544 | ||
Loans and leases | 3,204,514 | 3,278,997 | ||
90 or more days past due and accruing | 2,804 | 4,545 | ||
Home Equity | Secured by junior-lien | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 15,514 | 18,128 | ||
Home Equity | Secured by junior-lien | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 6,844 | 9,329 | ||
Home Equity | Secured by junior-lien | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 21,261 | 29,996 | ||
Residential Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 232,746 | 256,425 | ||
Current | 6,144,271 | 5,741,975 | ||
Loans and leases | 6,377,017 | 5,998,400 | ||
90 or more days past due and accruing | 67,488 | 69,917 | ||
Residential Mortgage | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 86,760 | 102,773 | ||
Residential Mortgage | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 35,127 | 34,298 | ||
Residential Mortgage | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 110,859 | 119,354 | ||
Residential Mortgage | Purchased credit-impaired | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 0 | 103 | ||
Current | 1,104 | 1,351 | ||
Loans and leases | 1,104 | 1,454 | ||
90 or more days past due and accruing | 0 | 0 | ||
Residential Mortgage | Purchased credit-impaired | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 0 | 103 | ||
Residential Mortgage | Purchased credit-impaired | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 0 | 0 | ||
Residential Mortgage | Purchased credit-impaired | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 0 | 0 | ||
Residential Mortgage | Residential mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 232,746 | 256,322 | ||
Current | 6,143,167 | 5,740,624 | ||
Loans and leases | 6,375,913 | 5,996,946 | ||
90 or more days past due and accruing | 67,488 | 69,917 | ||
Residential Mortgage | Residential mortgage | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 86,760 | 102,670 | ||
Residential Mortgage | Residential mortgage | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 35,127 | 34,298 | ||
Residential Mortgage | Residential mortgage | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 110,859 | 119,354 | ||
Other Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 11,345 | 9,716 | ||
Current | 632,807 | 553,338 | ||
Loans and leases | 644,152 | 563,054 | ||
90 or more days past due and accruing | 1,645 | 1,394 | ||
Other Consumer | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 7,323 | 6,469 | ||
Other Consumer | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 2,377 | 1,852 | ||
Other Consumer | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 1,645 | 1,395 | ||
Other Consumer | Purchased credit-impaired | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 0 | 0 | ||
Current | 0 | 52 | ||
Loans and leases | 0 | 52 | ||
90 or more days past due and accruing | 0 | 0 | ||
Other Consumer | Purchased credit-impaired | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 0 | 0 | ||
Other Consumer | Purchased credit-impaired | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 0 | 0 | ||
Other Consumer | Purchased credit-impaired | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 0 | 0 | ||
Other Consumer | Other consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 11,345 | 9,716 | ||
Current | 632,807 | 553,286 | ||
Loans and leases | 644,152 | 563,002 | ||
90 or more days past due and accruing | 1,645 | 1,394 | ||
Other Consumer | Other consumer | 30-59 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 7,323 | 6,469 | ||
Other Consumer | Other consumer | 60-89 Days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 2,377 | 1,852 | ||
Other Consumer | Other consumer | 90 or more days | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | $ 1,645 | $ 1,395 | ||
|
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Allowance for Credit Losses (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
|
Allowance For Credit Losses Roll Forward [Abstract] | ||||||||
ALLL balance, beginning of period | $ 613,719 | $ 605,126 | $ 597,843 | $ 605,196 | ||||
Loan charge-offs | (43,545) | (46,970) | (103,237) | (102,045) | ||||
Recoveries of loans previously charged-off | 26,790 | 21,595 | 77,930 | 52,238 | ||||
Provision for loan and lease losses | (26,086) | (19,790) | (50,424) | (46,445) | ||||
Allowance for loans sold or transferred to loans held for sale | (14) | (1) | (104) | (2,292) | ||||
ALLL balance, end of period | 623,064 | 599,542 | 623,064 | 599,542 | ||||
Provision for unfunded loan commitments and letters of credit | 1,577 | (629) | (1,667) | 5,435 | ||||
AULC Balance, end of period | 73,748 | 55,371 | 73,748 | 55,371 | $ 75,325 | $ 72,081 | $ 54,742 | $ 60,806 |
ACL balance, end of period | 696,812 | 654,913 | 696,812 | 654,913 | ||||
Commercial and Industrial | ||||||||
Allowance For Credit Losses Roll Forward [Abstract] | ||||||||
ALLL balance, beginning of period | 320,367 | 284,573 | 298,746 | 286,995 | ||||
Loan charge-offs | (14,743) | (12,213) | (31,566) | (36,825) | ||||
Recoveries of loans previously charged-off | 11,041 | 7,802 | 21,350 | 21,011 | ||||
Provision for loan and lease losses | (6,800) | (4,879) | (34,935) | (13,860) | ||||
Allowance for loans sold or transferred to loans held for sale | 0 | 0 | 0 | 0 | ||||
ALLL balance, end of period | 323,465 | 285,041 | 323,465 | 285,041 | ||||
Provision for unfunded loan commitments and letters of credit | 2,343 | 466 | (156) | 7,139 | ||||
AULC Balance, end of period | 56,042 | 41,849 | 56,042 | 41,849 | 58,385 | 55,886 | 42,315 | 48,988 |
ACL balance, end of period | 379,507 | 326,890 | 379,507 | 326,890 | ||||
Commercial Real Estate | ||||||||
Allowance For Credit Losses Roll Forward [Abstract] | ||||||||
ALLL balance, beginning of period | 102,074 | 100,752 | 100,007 | 102,839 | ||||
Loan charge-offs | (2,190) | (8,288) | (14,316) | (10,301) | ||||
Recoveries of loans previously charged-off | 2,863 | 2,763 | 32,465 | 8,788 | ||||
Provision for loan and lease losses | 1,705 | 3,167 | 17,114 | 9,266 | ||||
Allowance for loans sold or transferred to loans held for sale | 0 | 0 | 0 | 0 | ||||
ALLL balance, end of period | 101,042 | 92,060 | 101,042 | 92,060 | ||||
Provision for unfunded loan commitments and letters of credit | (188) | (247) | (113) | 263 | ||||
AULC Balance, end of period | 7,675 | 5,778 | 7,675 | 5,778 | 7,487 | 7,562 | 5,531 | 6,041 |
ACL balance, end of period | 108,717 | 97,838 | 108,717 | 97,838 | ||||
Automobile | ||||||||
Allowance For Credit Losses Roll Forward [Abstract] | ||||||||
ALLL balance, beginning of period | 48,032 | 37,125 | 49,504 | 33,466 | ||||
Loan charge-offs | (8,850) | (7,691) | (20,336) | (15,794) | ||||
Recoveries of loans previously charged-off | 4,530 | 4,249 | 9,246 | 8,104 | ||||
Provision for loan and lease losses | (6,819) | (5,418) | (12,117) | (15,618) | ||||
Allowance for loans sold or transferred to loans held for sale | 0 | (1) | 0 | (2,292) | ||||
ALLL balance, end of period | 50,531 | 39,102 | 50,531 | 39,102 | ||||
Provision for unfunded loan commitments and letters of credit | 0 | 0 | 0 | 0 | ||||
AULC Balance, end of period | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
ACL balance, end of period | 50,531 | 39,102 | 50,531 | 39,102 | ||||
Home Equity | ||||||||
Allowance For Credit Losses Roll Forward [Abstract] | ||||||||
ALLL balance, beginning of period | 78,102 | 110,280 | 83,671 | 96,413 | ||||
Loan charge-offs | (5,910) | (8,629) | (13,620) | (17,215) | ||||
Recoveries of loans previously charged-off | 4,832 | 3,979 | 8,861 | 7,940 | ||||
Provision for loan and lease losses | 542 | (5,548) | 2,430 | (24,040) | ||||
Allowance for loans sold or transferred to loans held for sale | 0 | 0 | 0 | 0 | ||||
ALLL balance, end of period | 76,482 | 111,178 | 76,482 | 111,178 | ||||
Provision for unfunded loan commitments and letters of credit | (40) | 117 | (82) | (598) | ||||
AULC Balance, end of period | 2,150 | 2,522 | 2,150 | 2,522 | 2,110 | 2,068 | 2,639 | 1,924 |
ACL balance, end of period | 78,632 | 113,700 | 78,632 | 113,700 | ||||
Residential Mortgage | ||||||||
Allowance For Credit Losses Roll Forward [Abstract] | ||||||||
ALLL balance, beginning of period | 40,842 | 55,380 | 41,646 | 47,211 | ||||
Loan charge-offs | (2,923) | (3,610) | (5,683) | (8,473) | ||||
Recoveries of loans previously charged-off | 2,147 | 1,468 | 3,260 | 3,515 | ||||
Provision for loan and lease losses | (2,312) | 1,559 | (3,065) | (9,426) | ||||
Allowance for loans sold or transferred to loans held for sale | (14) | 0 | (104) | 0 | ||||
ALLL balance, end of period | 42,392 | 51,679 | 42,392 | 51,679 | ||||
Provision for unfunded loan commitments and letters of credit | 11 | (8) | 9 | (9) | ||||
AULC Balance, end of period | 9 | 17 | 9 | 17 | 20 | 18 | 9 | 8 |
ACL balance, end of period | 42,401 | 51,696 | 42,401 | 51,696 | ||||
Other Consumer | ||||||||
Allowance For Credit Losses Roll Forward [Abstract] | ||||||||
ALLL balance, beginning of period | 24,302 | 17,016 | 24,269 | 38,272 | ||||
Loan charge-offs | (8,929) | (6,539) | (17,716) | (13,437) | ||||
Recoveries of loans previously charged-off | 1,377 | 1,334 | 2,748 | 2,880 | ||||
Provision for loan and lease losses | (12,402) | (8,671) | (19,851) | 7,233 | ||||
Allowance for loans sold or transferred to loans held for sale | 0 | 0 | 0 | 0 | ||||
ALLL balance, end of period | 29,152 | 20,482 | 29,152 | 20,482 | ||||
Provision for unfunded loan commitments and letters of credit | (549) | (957) | (1,325) | (1,360) | ||||
AULC Balance, end of period | 7,872 | 5,205 | 7,872 | 5,205 | $ 7,323 | $ 6,547 | $ 4,248 | $ 3,845 |
ACL balance, end of period | $ 37,024 | $ 25,687 | $ 37,024 | $ 25,687 |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Credit Quality Indicators (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | $ 21,372,474 | $ 20,559,834 |
Commercial real estate | 5,322,068 | 5,268,651 |
Automobile | 10,380,644 | 9,480,678 |
Home equity | 8,447,066 | 8,470,482 |
Residential mortgage | 6,377,017 | 5,998,400 |
Other consumer | 644,152 | 563,054 |
Commercial and Industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 21,372,474 | 20,559,834 |
Commercial and Industrial | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 20,025,364 | 19,257,789 |
Commercial and Industrial | OLEM | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 400,128 | 399,339 |
Commercial and Industrial | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 942,010 | 895,577 |
Commercial and Industrial | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 4,972 | 7,129 |
Commercial and Industrial | Purchased credit-impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 9,176 | 21,017 |
Commercial and Industrial | Purchased credit-impaired | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 1,484 | 3,051 |
Commercial and Industrial | Purchased credit-impaired | OLEM | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 293 | 674 |
Commercial and Industrial | Purchased credit-impaired | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 7,379 | 15,661 |
Commercial and Industrial | Purchased credit-impaired | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 20 | 1,631 |
Commercial and Industrial | Owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 3,951,297 | 4,012,800 |
Commercial and Industrial | Owner occupied | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 3,708,602 | 3,731,113 |
Commercial and Industrial | Owner occupied | OLEM | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 83,694 | 114,490 |
Commercial and Industrial | Owner occupied | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 158,248 | 165,301 |
Commercial and Industrial | Owner occupied | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 753 | 1,896 |
Commercial and Industrial | Other commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 17,412,001 | 16,526,017 |
Commercial and Industrial | Other commercial and industrial | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 16,315,278 | 15,523,625 |
Commercial and Industrial | Other commercial and industrial | OLEM | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 316,141 | 284,175 |
Commercial and Industrial | Other commercial and industrial | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 776,383 | 714,615 |
Commercial and Industrial | Other commercial and industrial | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 4,199 | 3,602 |
Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 5,322,068 | 5,268,651 |
Commercial Real Estate | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 5,117,875 | 5,066,054 |
Commercial Real Estate | OLEM | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 81,344 | 79,787 |
Commercial Real Estate | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 119,771 | 121,167 |
Commercial Real Estate | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 3,078 | 1,643 |
Commercial Real Estate | Purchased credit-impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 17,073 | 13,758 |
Commercial Real Estate | Purchased credit-impaired | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 3,157 | 7,194 |
Commercial Real Estate | Purchased credit-impaired | OLEM | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 228 | 397 |
Commercial Real Estate | Purchased credit-impaired | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 12,151 | 6,167 |
Commercial Real Estate | Purchased credit-impaired | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 1,537 | 0 |
Commercial Real Estate | Retail properties | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 1,602,009 | 1,506,709 |
Commercial Real Estate | Retail properties | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 1,582,809 | 1,473,014 |
Commercial Real Estate | Retail properties | OLEM | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 8,297 | 10,865 |
Commercial Real Estate | Retail properties | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 10,903 | 22,830 |
Commercial Real Estate | Retail properties | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 0 | 0 |
Commercial Real Estate | Multi-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 1,002,839 | 1,078,218 |
Commercial Real Estate | Multi-family | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 959,152 | 1,029,138 |
Commercial Real Estate | Multi-family | OLEM | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 28,778 | 28,862 |
Commercial Real Estate | Multi-family | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 14,573 | 19,898 |
Commercial Real Estate | Multi-family | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 336 | 320 |
Commercial Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 855,843 | 894,625 |
Commercial Real Estate | Office | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 787,401 | 822,824 |
Commercial Real Estate | Office | OLEM | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 34,957 | 35,350 |
Commercial Real Estate | Office | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 33,098 | 36,011 |
Commercial Real Estate | Office | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 387 | 440 |
Commercial Real Estate | Industrial and warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 492,286 | 504,167 |
Commercial Real Estate | Industrial and warehouse | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 469,083 | 493,402 |
Commercial Real Estate | Industrial and warehouse | OLEM | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 4,500 | 259 |
Commercial Real Estate | Industrial and warehouse | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 18,703 | 10,450 |
Commercial Real Estate | Industrial and warehouse | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 0 | 56 |
Commercial Real Estate | Other commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 1,352,018 | 1,271,174 |
Commercial Real Estate | Other commercial real estate | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 1,316,273 | 1,240,482 |
Commercial Real Estate | Other commercial real estate | OLEM | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 4,584 | 4,054 |
Commercial Real Estate | Other commercial real estate | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 30,343 | 25,811 |
Commercial Real Estate | Other commercial real estate | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial real estate | 818 | 827 |
Automobile | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Automobile | 10,380,644 | 9,480,678 |
Automobile | Greater than 750 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Automobile | 5,205,064 | 4,680,684 |
Automobile | 650-749 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Automobile | 3,779,606 | 3,454,585 |
Automobile | Less Than 650 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Automobile | 1,116,762 | 1,086,914 |
Automobile | Other FICO score | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Automobile | 279,212 | 258,495 |
Home Equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Home equity | 8,447,066 | 8,470,482 |
Home Equity | Greater than 750 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Home equity | 5,164,666 | 5,210,741 |
Home Equity | 650-749 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Home equity | 2,445,121 | 2,466,425 |
Home Equity | Less Than 650 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Home equity | 553,889 | 582,326 |
Home Equity | Other FICO score | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Home equity | 283,390 | 210,990 |
Home Equity | Secured by first-lien | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Home equity | 5,242,552 | 5,191,485 |
Home Equity | Secured by first-lien | Greater than 750 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Home equity | 3,346,422 | 3,369,657 |
Home Equity | Secured by first-lien | 650-749 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Home equity | 1,463,054 | 1,441,574 |
Home Equity | Secured by first-lien | Less Than 650 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Home equity | 264,024 | 258,328 |
Home Equity | Secured by first-lien | Other FICO score | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Home equity | 169,052 | 121,926 |
Home Equity | Secured by junior-lien | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Home equity | 3,204,514 | 3,278,997 |
Home Equity | Secured by junior-lien | Greater than 750 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Home equity | 1,818,244 | 1,841,084 |
Home Equity | Secured by junior-lien | 650-749 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Home equity | 982,067 | 1,024,851 |
Home Equity | Secured by junior-lien | Less Than 650 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Home equity | 289,865 | 323,998 |
Home Equity | Secured by junior-lien | Other FICO score | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Home equity | 114,338 | 89,064 |
Residential Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage | 6,377,017 | 5,998,400 |
Residential Mortgage | Greater than 750 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage | 3,886,743 | 3,564,064 |
Residential Mortgage | 650-749 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage | 1,848,717 | 1,813,779 |
Residential Mortgage | Less Than 650 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage | 523,118 | 567,984 |
Residential Mortgage | Other FICO score | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage | 118,439 | 52,573 |
Residential Mortgage | Purchased credit-impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage | 1,104 | 1,454 |
Residential Mortgage | Purchased credit-impaired | Greater than 750 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage | 320 | 381 |
Residential Mortgage | Purchased credit-impaired | 650-749 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage | 331 | 777 |
Residential Mortgage | Purchased credit-impaired | Less Than 650 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage | 453 | 296 |
Residential Mortgage | Purchased credit-impaired | Other FICO score | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage | 0 | 0 |
Residential Mortgage | Residential mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage | 6,375,913 | 5,996,946 |
Residential Mortgage | Residential mortgage | Greater than 750 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage | 3,886,423 | 3,563,683 |
Residential Mortgage | Residential mortgage | 650-749 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage | 1,848,386 | 1,813,002 |
Residential Mortgage | Residential mortgage | Less Than 650 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage | 522,665 | 567,688 |
Residential Mortgage | Residential mortgage | Other FICO score | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential mortgage | 118,439 | 52,573 |
Other Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other consumer | 644,152 | 563,054 |
Other Consumer | Greater than 750 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other consumer | 257,518 | 233,969 |
Other Consumer | 650-749 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other consumer | 313,712 | 269,746 |
Other Consumer | Less Than 650 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other consumer | 59,699 | 49,650 |
Other Consumer | Other FICO score | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other consumer | 13,223 | 9,689 |
Other Consumer | Purchased credit-impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other consumer | 0 | 52 |
Other Consumer | Purchased credit-impaired | Greater than 750 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other consumer | 0 | 0 |
Other Consumer | Purchased credit-impaired | 650-749 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other consumer | 0 | 52 |
Other Consumer | Purchased credit-impaired | Less Than 650 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other consumer | 0 | 0 |
Other Consumer | Purchased credit-impaired | Other FICO score | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other consumer | 0 | 0 |
Other Consumer | Other consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other consumer | 644,152 | 563,002 |
Other Consumer | Other consumer | Greater than 750 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other consumer | 257,518 | 233,969 |
Other Consumer | Other consumer | 650-749 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other consumer | 313,712 | 269,694 |
Other Consumer | Other consumer | Less Than 650 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other consumer | 59,699 | 49,650 |
Other Consumer | Other consumer | Other FICO score | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other consumer | $ 13,223 | $ 9,689 |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - ALLL Attributable to Loans by Portfolio Segment (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
||
---|---|---|---|---|---|---|---|---|
Portion of ALLL balance: | ||||||||
Attributable to loans collectively evaluated for impairment | $ 555,955 | $ 532,678 | ||||||
Attributable to loans individually evaluated for impairment | 67,109 | 62,436 | ||||||
Total ALLL balance | 623,064 | $ 613,719 | 597,843 | $ 599,542 | $ 605,126 | $ 605,196 | ||
Portion of loan and lease ending balance: | ||||||||
Collectively evaluated for impairment | 51,201,085 | 49,027,030 | ||||||
Individually evaluated for impairment | 1,314,983 | 1,277,788 | ||||||
Loans and leases | [1] | 52,543,421 | 50,341,099 | |||||
Commercial and Industrial | ||||||||
Portion of ALLL balance: | ||||||||
Attributable to loans collectively evaluated for impairment | 292,829 | 276,830 | ||||||
Attributable to loans individually evaluated for impairment | 30,636 | 19,314 | ||||||
Total ALLL balance | 323,465 | 320,367 | 298,746 | 285,041 | 284,573 | 286,995 | ||
Portion of loan and lease ending balance: | ||||||||
Collectively evaluated for impairment | 20,784,295 | 20,057,784 | ||||||
Individually evaluated for impairment | 579,003 | 481,033 | ||||||
Loans and leases | 21,372,474 | 20,559,834 | ||||||
Commercial Real Estate | ||||||||
Portion of ALLL balance: | ||||||||
Attributable to loans collectively evaluated for impairment | 96,148 | 91,893 | ||||||
Attributable to loans individually evaluated for impairment | 4,894 | 8,114 | ||||||
Total ALLL balance | 101,042 | 102,074 | 100,007 | 92,060 | 100,752 | 102,839 | ||
Portion of loan and lease ending balance: | ||||||||
Collectively evaluated for impairment | 5,196,808 | 5,109,916 | ||||||
Individually evaluated for impairment | 108,187 | 144,977 | ||||||
Loans and leases | 5,322,068 | 5,268,651 | ||||||
Automobile | ||||||||
Portion of ALLL balance: | ||||||||
Attributable to loans collectively evaluated for impairment | 48,736 | 47,725 | ||||||
Attributable to loans individually evaluated for impairment | 1,795 | 1,779 | ||||||
Total ALLL balance | 50,531 | 48,032 | 49,504 | 39,102 | 37,125 | 33,466 | ||
Portion of loan and lease ending balance: | ||||||||
Collectively evaluated for impairment | 10,349,844 | 9,449,374 | ||||||
Individually evaluated for impairment | 30,800 | 31,304 | ||||||
Loans and leases | 10,380,644 | 9,480,678 | ||||||
Home Equity | ||||||||
Portion of ALLL balance: | ||||||||
Attributable to loans collectively evaluated for impairment | 63,520 | 67,429 | ||||||
Attributable to loans individually evaluated for impairment | 12,962 | 16,242 | ||||||
Total ALLL balance | 76,482 | 78,102 | 83,671 | 111,178 | 110,280 | 96,413 | ||
Portion of loan and lease ending balance: | ||||||||
Collectively evaluated for impairment | 8,202,149 | 8,221,643 | ||||||
Individually evaluated for impairment | 244,917 | 248,839 | ||||||
Loans and leases | 8,447,066 | 8,470,482 | ||||||
Residential Mortgage | ||||||||
Portion of ALLL balance: | ||||||||
Attributable to loans collectively evaluated for impairment | 25,879 | 24,708 | ||||||
Attributable to loans individually evaluated for impairment | 16,513 | 16,811 | ||||||
Total ALLL balance | 42,392 | 40,842 | 41,646 | 51,679 | 55,380 | 47,211 | ||
Portion of loan and lease ending balance: | ||||||||
Collectively evaluated for impairment | 6,028,501 | 5,629,951 | ||||||
Individually evaluated for impairment | 347,412 | 366,995 | ||||||
Loans and leases | 6,377,017 | 5,998,400 | ||||||
Other Consumer | ||||||||
Portion of ALLL balance: | ||||||||
Attributable to loans collectively evaluated for impairment | 28,843 | 24,093 | ||||||
Attributable to loans individually evaluated for impairment | 309 | 176 | ||||||
Total ALLL balance | 29,152 | $ 24,302 | 24,269 | $ 20,482 | $ 17,016 | $ 38,272 | ||
Portion of loan and lease ending balance: | ||||||||
Collectively evaluated for impairment | 639,488 | 558,362 | ||||||
Individually evaluated for impairment | 4,664 | 4,640 | ||||||
Loans and leases | 644,152 | 563,054 | ||||||
Purchased credit-impaired | ||||||||
Portion of ALLL balance: | ||||||||
Attributable to loans collectively evaluated for impairment | 0 | 2,729 | ||||||
Portion of loan and lease ending balance: | ||||||||
Collectively evaluated for impairment | 27,353 | 36,281 | ||||||
Purchased credit-impaired | Commercial and Industrial | ||||||||
Portion of ALLL balance: | ||||||||
Attributable to loans collectively evaluated for impairment | 0 | 2,602 | ||||||
Portion of loan and lease ending balance: | ||||||||
Collectively evaluated for impairment | 9,176 | 21,017 | ||||||
Loans and leases | 9,176 | 21,017 | ||||||
Purchased credit-impaired | Commercial Real Estate | ||||||||
Portion of ALLL balance: | ||||||||
Attributable to loans collectively evaluated for impairment | 0 | 0 | ||||||
Portion of loan and lease ending balance: | ||||||||
Collectively evaluated for impairment | 17,073 | 13,758 | ||||||
Loans and leases | 17,073 | 13,758 | ||||||
Purchased credit-impaired | Automobile | ||||||||
Portion of ALLL balance: | ||||||||
Attributable to loans collectively evaluated for impairment | 0 | 0 | ||||||
Portion of loan and lease ending balance: | ||||||||
Collectively evaluated for impairment | 0 | 0 | ||||||
Purchased credit-impaired | Home Equity | ||||||||
Portion of ALLL balance: | ||||||||
Attributable to loans collectively evaluated for impairment | 0 | 0 | ||||||
Portion of loan and lease ending balance: | ||||||||
Collectively evaluated for impairment | 0 | 0 | ||||||
Purchased credit-impaired | Residential Mortgage | ||||||||
Portion of ALLL balance: | ||||||||
Attributable to loans collectively evaluated for impairment | 0 | 127 | ||||||
Portion of loan and lease ending balance: | ||||||||
Collectively evaluated for impairment | 1,104 | 1,454 | ||||||
Loans and leases | 1,104 | 1,454 | ||||||
Purchased credit-impaired | Other Consumer | ||||||||
Portion of ALLL balance: | ||||||||
Attributable to loans collectively evaluated for impairment | 0 | 0 | ||||||
Portion of loan and lease ending balance: | ||||||||
Collectively evaluated for impairment | 0 | 52 | ||||||
Loans and leases | $ 0 | $ 52 | ||||||
|
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Impaired Loans (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Dec. 31, 2015 |
|
Commercial and Industrial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | $ 288,676 | $ 288,676 | $ 255,801 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 315,523 | 315,523 | 279,551 | ||
Average balance of impaired loans with no allowance recorded | 289,138 | $ 92,930 | 284,128 | $ 73,373 | |
Interest income recognized on impaired loans with no allowance recorded | 2,392 | 570 | 4,623 | 983 | |
Ending balance of impaired loans with allowance recorded | 299,503 | 299,503 | 246,249 | ||
Unpaid principal balance of impaired loans with allowance recorded | 328,723 | 328,723 | 274,203 | ||
Related Allowance | 30,636 | 30,636 | 21,916 | ||
Average balance of impaired loans with allowance recorded | 291,761 | 263,450 | 269,518 | 138,857 | |
Interest income recognized on impaired loans with allowance recorded | 1,739 | 3,411 | 3,829 | 4,894 | |
Loans considered impaired due to status as a TDR | 99,000 | 99,000 | 91,000 | ||
Commercial and Industrial | Purchased credit-impaired | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 9,176 | 9,176 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 22,219 | 22,219 | 0 | ||
Average balance of impaired loans with no allowance recorded | 11,888 | 0 | 14,931 | 0 | |
Interest income recognized on impaired loans with no allowance recorded | 1,003 | 0 | 2,000 | 0 | |
Ending balance of impaired loans with allowance recorded | 0 | 0 | 21,017 | ||
Unpaid principal balance of impaired loans with allowance recorded | 0 | 0 | 30,676 | ||
Related Allowance | 0 | 0 | 2,602 | ||
Average balance of impaired loans with allowance recorded | 0 | 20,750 | 0 | 21,576 | |
Interest income recognized on impaired loans with allowance recorded | 0 | 1,577 | 0 | 2,874 | |
Commercial and Industrial | Owner occupied | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 55,637 | 55,637 | 57,832 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 60,883 | 60,883 | 65,812 | ||
Average balance of impaired loans with no allowance recorded | 45,108 | 21,025 | 47,856 | 16,645 | |
Interest income recognized on impaired loans with no allowance recorded | 260 | 72 | 551 | 147 | |
Ending balance of impaired loans with allowance recorded | 55,831 | 55,831 | 54,092 | ||
Unpaid principal balance of impaired loans with allowance recorded | 66,013 | 66,013 | 62,527 | ||
Related Allowance | 3,481 | 3,481 | 4,171 | ||
Average balance of impaired loans with allowance recorded | 60,741 | 59,605 | 59,120 | 55,448 | |
Interest income recognized on impaired loans with allowance recorded | 579 | 495 | 1,164 | 934 | |
Commercial and Industrial | Other commercial and industrial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 223,863 | 223,863 | 197,969 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 232,421 | 232,421 | 213,739 | ||
Average balance of impaired loans with no allowance recorded | 232,142 | 71,905 | 221,341 | 56,728 | |
Interest income recognized on impaired loans with no allowance recorded | 1,129 | 498 | 2,072 | 836 | |
Ending balance of impaired loans with allowance recorded | 243,672 | 243,672 | 171,140 | ||
Unpaid principal balance of impaired loans with allowance recorded | 262,710 | 262,710 | 181,000 | ||
Related Allowance | 27,155 | 27,155 | 15,143 | ||
Average balance of impaired loans with allowance recorded | 231,020 | 183,095 | 210,398 | 61,833 | |
Interest income recognized on impaired loans with allowance recorded | 1,160 | 1,339 | 2,665 | 1,086 | |
Commercial Real Estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 73,368 | 73,368 | 68,260 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 120,675 | 120,675 | 125,814 | ||
Average balance of impaired loans with no allowance recorded | 72,569 | 95,726 | 72,640 | 97,956 | |
Interest income recognized on impaired loans with no allowance recorded | 1,855 | 2,728 | 3,472 | 5,086 | |
Ending balance of impaired loans with allowance recorded | 51,892 | 51,892 | 90,475 | ||
Unpaid principal balance of impaired loans with allowance recorded | 61,426 | 61,426 | 104,930 | ||
Related Allowance | 4,894 | 4,894 | 8,114 | ||
Average balance of impaired loans with allowance recorded | 58,357 | 136,363 | 69,501 | 140,173 | |
Interest income recognized on impaired loans with allowance recorded | 615 | 1,468 | 1,373 | 2,999 | |
Loans considered impaired due to status as a TDR | 29,000 | 29,000 | 35,000 | ||
Commercial Real Estate | Purchased credit-impaired | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 17,073 | 17,073 | 13,758 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 49,728 | 49,728 | 55,358 | ||
Average balance of impaired loans with no allowance recorded | 14,883 | 31,468 | 14,508 | 33,769 | |
Interest income recognized on impaired loans with no allowance recorded | 1,255 | 2,163 | 2,122 | 3,941 | |
Ending balance of impaired loans with allowance recorded | 0 | 0 | 0 | ||
Unpaid principal balance of impaired loans with allowance recorded | 0 | 0 | 0 | ||
Related Allowance | 0 | 0 | 0 | ||
Average balance of impaired loans with allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized on impaired loans with allowance recorded | 0 | 0 | 0 | 0 | |
Commercial Real Estate | Retail properties | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 12,776 | 12,776 | 42,009 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 13,252 | 13,252 | 54,021 | ||
Average balance of impaired loans with no allowance recorded | 14,461 | 50,905 | 25,567 | 54,231 | |
Interest income recognized on impaired loans with no allowance recorded | 197 | 463 | 682 | 959 | |
Ending balance of impaired loans with allowance recorded | 6,217 | 6,217 | 9,096 | ||
Unpaid principal balance of impaired loans with allowance recorded | 7,334 | 7,334 | 11,121 | ||
Related Allowance | 284 | 284 | 1,190 | ||
Average balance of impaired loans with allowance recorded | 6,073 | 44,213 | 7,371 | 42,312 | |
Interest income recognized on impaired loans with allowance recorded | 89 | 418 | 174 | 780 | |
Commercial Real Estate | Multi-family | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 20,574 | 20,574 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 20,574 | 20,574 | 0 | ||
Average balance of impaired loans with no allowance recorded | 20,408 | 0 | 13,591 | 0 | |
Interest income recognized on impaired loans with no allowance recorded | 172 | 0 | 229 | 0 | |
Ending balance of impaired loans with allowance recorded | 15,212 | 15,212 | 34,349 | ||
Unpaid principal balance of impaired loans with allowance recorded | 17,773 | 17,773 | 37,208 | ||
Related Allowance | 1,205 | 1,205 | 1,593 | ||
Average balance of impaired loans with allowance recorded | 15,738 | 16,200 | 22,091 | 15,884 | |
Interest income recognized on impaired loans with allowance recorded | 185 | 184 | 481 | 354 | |
Commercial Real Estate | Office | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 16,248 | 16,248 | 9,030 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 30,258 | 30,258 | 12,919 | ||
Average balance of impaired loans with no allowance recorded | 16,268 | 11,515 | 13,469 | 6,597 | |
Interest income recognized on impaired loans with no allowance recorded | 142 | 86 | 284 | 117 | |
Ending balance of impaired loans with allowance recorded | 5,636 | 5,636 | 14,365 | ||
Unpaid principal balance of impaired loans with allowance recorded | 9,066 | 9,066 | 17,350 | ||
Related Allowance | 586 | 586 | 1,177 | ||
Average balance of impaired loans with allowance recorded | 9,727 | 40,710 | 10,724 | 45,644 | |
Interest income recognized on impaired loans with allowance recorded | 55 | 450 | 106 | 1,013 | |
Commercial Real Estate | Industrial and warehouse | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 227 | 227 | 1,720 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 227 | 227 | 1,741 | ||
Average balance of impaired loans with no allowance recorded | 76 | 0 | 609 | 263 | |
Interest income recognized on impaired loans with no allowance recorded | 1 | 0 | 19 | 7 | |
Ending balance of impaired loans with allowance recorded | 2,793 | 2,793 | 9,721 | ||
Unpaid principal balance of impaired loans with allowance recorded | 3,338 | 3,338 | 10,550 | ||
Related Allowance | 276 | 276 | 1,540 | ||
Average balance of impaired loans with allowance recorded | 2,985 | 5,835 | 5,242 | 7,079 | |
Interest income recognized on impaired loans with allowance recorded | 19 | 81 | 39 | 163 | |
Commercial Real Estate | Other commercial real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 6,470 | 6,470 | 1,743 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 6,636 | 6,636 | 1,775 | ||
Average balance of impaired loans with no allowance recorded | 6,473 | 1,838 | 4,896 | 3,096 | |
Interest income recognized on impaired loans with no allowance recorded | 88 | 16 | 136 | 62 | |
Ending balance of impaired loans with allowance recorded | 22,034 | 22,034 | 22,944 | ||
Unpaid principal balance of impaired loans with allowance recorded | 23,915 | 23,915 | 28,701 | ||
Related Allowance | 2,543 | 2,543 | 2,614 | ||
Average balance of impaired loans with allowance recorded | 23,834 | 29,405 | 24,073 | 29,254 | |
Interest income recognized on impaired loans with allowance recorded | 267 | 335 | 573 | 689 | |
Automobile | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with allowance recorded | 30,800 | 30,800 | 31,304 | ||
Unpaid principal balance of impaired loans with allowance recorded | 31,247 | 31,247 | 31,878 | ||
Related Allowance | 1,795 | 1,795 | 1,779 | ||
Average balance of impaired loans with allowance recorded | 32,032 | 29,482 | 31,789 | 29,859 | |
Interest income recognized on impaired loans with allowance recorded | 524 | 544 | 1,102 | 1,105 | |
Home Equity | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with allowance recorded | 244,917 | 244,917 | 248,839 | ||
Unpaid principal balance of impaired loans with allowance recorded | 278,683 | 278,683 | 284,957 | ||
Related Allowance | 12,962 | 12,962 | 16,242 | ||
Average balance of impaired loans with allowance recorded | 248,056 | 329,951 | 248,317 | 323,449 | |
Interest income recognized on impaired loans with allowance recorded | 2,962 | 3,946 | 5,930 | 7,515 | |
Home Equity | Secured by first-lien | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with allowance recorded | 55,766 | 55,766 | 52,672 | ||
Unpaid principal balance of impaired loans with allowance recorded | 59,675 | 59,675 | 57,224 | ||
Related Allowance | 4,151 | 4,151 | 4,359 | ||
Average balance of impaired loans with allowance recorded | 55,798 | 148,892 | 54,756 | 147,783 | |
Interest income recognized on impaired loans with allowance recorded | 518 | 1,715 | 1,018 | 3,299 | |
Home Equity | Secured by junior-lien | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with allowance recorded | 189,151 | 189,151 | 196,167 | ||
Unpaid principal balance of impaired loans with allowance recorded | 219,008 | 219,008 | 227,733 | ||
Related Allowance | 8,811 | 8,811 | 11,883 | ||
Average balance of impaired loans with allowance recorded | 192,258 | 181,059 | 193,561 | 175,666 | |
Interest income recognized on impaired loans with allowance recorded | 2,444 | 2,231 | 4,912 | 4,216 | |
Residential Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with allowance recorded | 347,412 | 347,412 | 368,449 | ||
Unpaid principal balance of impaired loans with allowance recorded | 386,170 | 386,170 | 411,114 | ||
Related Allowance | 16,513 | 16,513 | 16,938 | ||
Average balance of impaired loans with allowance recorded | 352,489 | 371,349 | 357,324 | 371,396 | |
Interest income recognized on impaired loans with allowance recorded | 3,027 | 2,982 | 6,064 | 6,107 | |
Amount of TDRs guaranteed by the U.S. government | 29,000 | 29,000 | 29,000 | ||
Residential Mortgage | Purchased credit-impaired | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with allowance recorded | 0 | 0 | 1,454 | ||
Unpaid principal balance of impaired loans with allowance recorded | 0 | 0 | 2,189 | ||
Related Allowance | 0 | 0 | 127 | ||
Average balance of impaired loans with allowance recorded | 0 | 2,104 | 0 | 2,040 | |
Interest income recognized on impaired loans with allowance recorded | 0 | 4 | 0 | 7 | |
Residential Mortgage | Residential Mortgage Other [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with allowance recorded | 347,412 | 347,412 | 366,995 | ||
Unpaid principal balance of impaired loans with allowance recorded | 386,170 | 386,170 | 408,925 | ||
Related Allowance | 16,513 | 16,513 | 16,811 | ||
Average balance of impaired loans with allowance recorded | 352,489 | 369,245 | 357,324 | 369,356 | |
Interest income recognized on impaired loans with allowance recorded | 3,027 | 2,978 | 6,064 | 6,100 | |
Other Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | 52 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | 101 | ||
Average balance of impaired loans with no allowance recorded | 19 | 0 | 30 | 0 | |
Interest income recognized on impaired loans with no allowance recorded | 2 | 0 | 104 | 0 | |
Ending balance of impaired loans with allowance recorded | 4,664 | 4,664 | 4,640 | ||
Unpaid principal balance of impaired loans with allowance recorded | 4,665 | 4,665 | 4,649 | ||
Related Allowance | 309 | 309 | 176 | ||
Average balance of impaired loans with allowance recorded | 4,812 | 5,014 | 4,754 | 4,722 | |
Interest income recognized on impaired loans with allowance recorded | 53 | 225 | 120 | 419 | |
Other Consumer | Purchased credit-impaired | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | 52 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | 101 | ||
Average balance of impaired loans with no allowance recorded | 19 | 0 | 30 | 0 | |
Interest income recognized on impaired loans with no allowance recorded | 2 | 0 | 104 | 0 | |
Ending balance of impaired loans with allowance recorded | 0 | 0 | 0 | ||
Unpaid principal balance of impaired loans with allowance recorded | 0 | 0 | 0 | ||
Related Allowance | 0 | 0 | 0 | ||
Average balance of impaired loans with allowance recorded | 0 | 51 | 0 | 51 | |
Interest income recognized on impaired loans with allowance recorded | 0 | 160 | 0 | 291 | |
Other Consumer | Other consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | 0 | ||
Average balance of impaired loans with no allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | 0 | 0 | |
Ending balance of impaired loans with allowance recorded | 4,664 | 4,664 | 4,640 | ||
Unpaid principal balance of impaired loans with allowance recorded | 4,665 | 4,665 | 4,649 | ||
Related Allowance | 309 | 309 | $ 176 | ||
Average balance of impaired loans with allowance recorded | 4,812 | 4,963 | 4,754 | 4,671 | |
Interest income recognized on impaired loans with allowance recorded | 53 | $ 65 | 120 | $ 128 | |
Residential Mortgage Purchased Impaired [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 1,104 | 1,104 | |||
Unpaid principal balance of impaired loans with no allowance recorded | 1,672 | 1,672 | |||
Average balance of impaired loans with no allowance recorded | 1,298 | 1,350 | |||
Interest income recognized on impaired loans with no allowance recorded | 109 | 111 | |||
Residential Mortgage Other [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | |||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | |||
Average balance of impaired loans with no allowance recorded | 0 | 0 | |||
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | |||
Residential Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 1,104 | 1,104 | |||
Unpaid principal balance of impaired loans with no allowance recorded | 1,672 | 1,672 | |||
Average balance of impaired loans with no allowance recorded | 1,298 | 1,350 | |||
Interest income recognized on impaired loans with no allowance recorded | $ 109 | $ 111 |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - TDRs (Details) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016
USD ($)
contract
|
Jun. 30, 2015
USD ($)
contract
|
Jun. 30, 2016
USD ($)
contract
note
|
Jun. 30, 2015
USD ($)
contract
|
|
Financing Receivable, Modifications [Line Items] | ||||
Number of new notes potentially created in NAL restructuring | note | 2 | |||
New Troubled Debt Restructuring, Number of Contracts | contract | 1,077 | 1,425 | 2,511 | 2,957 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 176,582,000 | $ 259,911,000 | $ 371,091,000 | $ 469,287,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (4,787,000) | $ (12,961,000) | $ (5,416,000) | $ (10,229,000) |
Commercial and Industrial | Owner occupied | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 49 | 57 | 104 | 107 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 9,297,000 | $ 36,695,000 | $ 46,046,000 | $ 47,814,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (17,000) | $ (1,929,000) | $ (445,000) | $ (2,133,000) |
Commercial and Industrial | Owner occupied | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 1 | 2 | 2 | 3 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 22,000 | $ 189,000 | $ 39,000 | $ 235,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ (1,000) | $ (1,000) | $ (2,000) |
Commercial and Industrial | Owner occupied | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 47 | 55 | 99 | 101 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 9,047,000 | $ 36,506,000 | $ 45,556,000 | $ 46,966,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (17,000) | $ (1,928,000) | $ (463,000) | $ (2,102,000) |
Commercial and Industrial | Owner occupied | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 1 | 0 | 3 | 3 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 228,000 | $ 0 | $ 451,000 | $ 613,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ (17,000) | $ (29,000) |
Commercial and Industrial | Other commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 153 | 158 | 291 | 281 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 124,890,000 | $ 156,378,000 | $ 211,674,000 | $ 265,173,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (3,473,000) | $ (8,405,000) | $ (3,368,000) | $ (8,022,000) |
Commercial and Industrial | Other commercial and industrial | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | 0 | 4 | 0 | 5 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 405,000 | $ 0 | $ 435,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ (10,000) | $ 0 | $ (9,000) |
Commercial and Industrial | Other commercial and industrial | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 152 | 153 | 284 | 270 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 124,886,000 | $ 155,849,000 | $ 211,035,000 | $ 236,226,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (3,473,000) | $ (8,415,000) | $ (3,381,000) | $ (7,601,000) |
Commercial and Industrial | Other commercial and industrial | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 1 | 1 | 7 | 6 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 4,000 | $ 124,000 | $ 639,000 | $ 28,512,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ (13,000) | $ (430,000) |
Commercial Real Estate | Retail properties | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 4 | 1 | 8 | 13 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 1,910,000 | $ 6,396,000 | $ 2,433,000 | $ 12,630,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (1,000) | $ (1,334,000) | $ (39,000) | $ (1,544,000) |
Commercial Real Estate | Retail properties | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 0 | 1 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 1,657,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ (11,000) |
Commercial Real Estate | Retail properties | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 4 | 1 | 8 | 12 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 1,910,000 | $ 6,396,000 | $ 2,433,000 | $ 10,973,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (1,000) | $ (1,334,000) | $ (39,000) | $ (1,533,000) |
Commercial Real Estate | Retail properties | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 0 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate | Multi-family | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 15 | 20 | 24 | 39 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 2,653,000 | $ 5,497,000 | $ 25,162,000 | $ 10,542,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (47,000) | $ (34,000) | $ (152,000) | $ (35,000) |
Commercial Real Estate | Multi-family | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 1 | 1 | 1 | 1 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 84,000 | $ 90,000 | $ 84,000 | $ 90,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate | Multi-family | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 13 | 11 | 22 | 30 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 2,562,000 | $ 5,191,000 | $ 25,071,000 | $ 10,236,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (47,000) | $ (28,000) | $ (152,000) | $ (29,000) |
Commercial Real Estate | Multi-family | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 1 | 8 | 1 | 8 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 7,000 | $ 216,000 | $ 7,000 | $ 216,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ (6,000) | $ 0 | $ (6,000) |
Commercial Real Estate | Office | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 4 | 8 | 11 | 13 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 600,000 | $ 5,018,000 | $ 9,100,000 | $ 31,103,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (1,000) | $ (101,000) | $ (411,000) | $ (70,000) |
Commercial Real Estate | Office | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 0 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate | Office | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 3 | 7 | 9 | 12 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 555,000 | $ 4,988,000 | $ 8,916,000 | $ 31,073,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (1,000) | $ (103,000) | $ (430,000) | $ (72,000) |
Commercial Real Estate | Office | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 1 | 1 | 2 | 1 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 45,000 | $ 30,000 | $ 184,000 | $ 30,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ (2,000) | $ (19,000) | $ (2,000) |
Commercial Real Estate | Industrial and warehouse | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 1 | 4 | 3 | 5 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 316,000 | $ 2,160,000 | $ 688,000 | $ 2,386,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (55,000) | $ (91,000) | $ (824,000) | $ (91,000) |
Commercial Real Estate | Industrial and warehouse | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 0 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate | Industrial and warehouse | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 1 | 4 | 3 | 5 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 316,000 | $ 2,160,000 | $ 688,000 | $ 2,386,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (55,000) | $ (91,000) | $ (824,000) | $ (91,000) |
Commercial Real Estate | Industrial and warehouse | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 0 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate | Other commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 15 | 11 | 19 | 19 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 10,674,000 | $ 4,154,000 | $ 12,828,000 | $ 7,965,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (729,000) | $ (6,000) | $ (662,000) | $ (5,000) |
Commercial Real Estate | Other commercial real estate | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 0 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate | Other commercial real estate | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 15 | 10 | 18 | 17 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 10,674,000 | $ 4,072,000 | $ 12,704,000 | $ 7,731,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (729,000) | $ (16,000) | $ (697,000) | $ (27,000) |
Commercial Real Estate | Other commercial real estate | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 1 | 1 | 2 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 82,000 | $ 124,000 | $ 234,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ (22,000) | $ (35,000) | $ (22,000) |
Automobile | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 533 | 474 | 1,275 | 1,127 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 4,709,000 | $ 3,293,000 | $ 11,214,000 | $ 7,887,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (321,000) | $ (158,000) | $ (658,000) | $ (417,000) |
Automobile | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 3 | 12 | 7 | 25 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 64,000 | $ 23,000 | $ 106,000 | $ 42,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (5,000) | $ (1,000) | $ (7,000) | $ (2,000) |
Automobile | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 286 | 316 | 707 | 812 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 2,663,000 | $ 2,132,000 | $ 6,564,000 | $ 5,484,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (202,000) | $ (96,000) | $ (422,000) | $ (254,000) |
Automobile | Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 244 | 146 | 561 | 290 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 1,982,000 | $ 1,138,000 | $ 4,544,000 | $ 2,361,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (114,000) | $ (61,000) | $ (229,000) | $ (161,000) |
Automobile | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 0 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Residential Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 120 | 109 | 234 | 277 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 12,387,000 | $ 12,561,000 | $ 25,308,000 | $ 31,779,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (452,000) | $ (133,000) | $ (991,000) | $ (382,000) |
Residential Mortgage | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 5 | 4 | 10 | 9 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 404,000 | $ 261,000 | $ 1,061,000 | $ 737,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (17,000) | $ (52,000) | $ (15,000) | $ (56,000) |
Residential Mortgage | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 108 | 70 | 200 | 193 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 10,641,000 | $ 9,416,000 | $ 21,400,000 | $ 23,274,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (420,000) | $ (74,000) | $ (997,000) | $ (195,000) |
Residential Mortgage | Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 6 | 35 | 23 | 69 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 1,178,000 | $ 2,884,000 | $ 2,683,000 | $ 7,060,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (49,000) | $ (7,000) | $ (21,000) | $ (131,000) |
Residential Mortgage | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 1 | 0 | 1 | 6 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 164,000 | $ 0 | $ 164,000 | $ 708,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Home Equity | Secured by first-lien | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 39 | 98 | 115 | 183 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 3,492,000 | $ 8,862,000 | $ 9,379,000 | $ 15,477,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (6,000) | $ (229,000) | $ (121,000) | $ (426,000) |
Home Equity | Secured by first-lien | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 5 | 11 | 17 | 21 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 530,000 | $ 1,160,000 | $ 1,501,000 | $ 2,579,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (13,000) | $ (42,000) | $ (46,000) | $ (68,000) |
Home Equity | Secured by first-lien | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 15 | 65 | 40 | 114 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 1,219,000 | $ 6,432,000 | $ 3,269,000 | $ 10,043,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (36,000) | $ (325,000) | $ (64,000) | $ (628,000) |
Home Equity | Secured by first-lien | Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 19 | 22 | 58 | 48 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 1,743,000 | $ 1,270,000 | $ 4,609,000 | $ 2,855,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (17,000) | $ (54,000) | $ (139,000) | $ (134,000) |
Home Equity | Secured by first-lien | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 0 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Home Equity | Secured by junior-lien | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 143 | 480 | 415 | 882 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 5,650,000 | $ 18,825,000 | $ 16,634,000 | $ 36,358,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (437,000) | $ (1,251,000) | $ (1,046,000) | $ (1,715,000) |
Home Equity | Secured by junior-lien | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 4 | 4 | 12 | 8 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 97,000 | $ 98,000 | $ 510,000 | $ 349,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (13,000) | $ (6,000) | $ (47,000) | $ (21,000) |
Home Equity | Secured by junior-lien | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 112 | 419 | 316 | 766 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 5,182,000 | $ 18,077,000 | $ 15,022,000 | $ 34,584,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (700,000) | $ (2,615,000) | $ (1,954,000) | $ (551,000) |
Home Equity | Secured by junior-lien | Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 27 | 57 | 87 | 108 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 371,000 | $ 650,000 | $ 1,102,000 | $ 1,425,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ (250,000) | $ (1,358,000) | $ (861,000) | $ (2,245,000) |
Home Equity | Secured by junior-lien | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 0 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Other Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 1 | 5 | 12 | 11 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 4,000 | $ 72,000 | $ 625,000 | $ 173,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ (10,000) | $ (31,000) | $ (15,000) |
Other Consumer | Interest rate reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 0 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
Other Consumer | Amortization or maturity date change | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 1 | 2 | 5 | 6 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 4,000 | $ 33,000 | $ 559,000 | $ 128,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ (2,000) | $ (24,000) | $ (6,000) |
Other Consumer | Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 3 | 7 | 5 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 39,000 | $ 66,000 | $ 45,000 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ (8,000) | $ (7,000) | $ (9,000) |
Other Consumer | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 0 | 0 | 0 | 0 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
New Troubled Debt Restructuring, Financial effects of modification | $ 0 | $ 0 | $ 0 | $ 0 |
AVAILABLE-FOR-SALE AND OTHER SECURITIES - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Dec. 31, 2015 |
|
Schedule of Available-for-sale Securities [Line Items] | |||||
Pledged investment securities to secure public and trust deposits, trading account liabilities, US Treasury demand notes and security repurchase agreements | $ 2,500.0 | $ 2,500.0 | |||
Non-marketable equity securities | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Stock issued by Federal Reserve Banks included in other securities | 177.0 | 177.0 | $ 176.0 | ||
Federal Home Loan Bank of Cincinnati [Member] | Non-marketable equity securities | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Stock issued by the Federal Home Loan Bank included in other securities | 157.0 | 157.0 | $ 157.0 | ||
Commercial | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Contractually Specified Servicing Fees, Late Fees, and Ancillary Fees Earned in Exchange for Servicing Financial Assets | $ 2.0 | $ 2.0 | $ 4.5 | $ 4.1 |
AVAILABLE-FOR-SALE AND OTHER SECURITIES - Contractual Maturities (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost | $ 9,522,960 | $ 8,770,923 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale and other securities | 9,653,038 | 8,775,441 |
U.S. Treasury | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost, Under 1 year | 1,798 | 0 |
Amortized Cost, 1-5 years | 5,468 | 5,457 |
Amortized Cost, 6-10 years | 0 | 0 |
Amortized Cost, Over 10 years | 0 | 0 |
Amortized Cost | 7,266 | 5,457 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 1,799 | 0 |
Fair Value, 1-5 years | 5,521 | 5,472 |
Fair Value, 6-10 years | 0 | 0 |
Fair Value, Over 10 years | 0 | 0 |
Available-for-sale and other securities | 7,320 | 5,472 |
Federal agencies: Mortgage-backed securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost, Under 1 year | 51,000 | 51,146 |
Amortized Cost, 1-5 years | 96,565 | 111,655 |
Amortized Cost, 6-10 years | 239,445 | 254,397 |
Amortized Cost, Over 10 years | 4,734,778 | 4,088,120 |
Amortized Cost | 5,121,788 | 4,505,318 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 50,982 | 51,050 |
Fair Value, 1-5 years | 98,664 | 113,393 |
Fair Value, 6-10 years | 246,718 | 257,765 |
Fair Value, Over 10 years | 4,821,428 | 4,099,480 |
Available-for-sale and other securities | 5,217,792 | 4,521,688 |
Federal agencies, Other agencies | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost, Under 1 year | 1,650 | 801 |
Amortized Cost, 1-5 years | 7,494 | 9,101 |
Amortized Cost, 6-10 years | 73,899 | 105,174 |
Amortized Cost, Over 10 years | 0 | 0 |
Amortized Cost | 83,043 | 115,076 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 1,688 | 805 |
Fair Value, 1-5 years | 7,883 | 9,395 |
Fair Value, 6-10 years | 76,422 | 105,713 |
Fair Value, Over 10 years | 0 | 0 |
Available-for-sale and other securities | 85,993 | 115,913 |
Total U.S. Treasury, Federal agency securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost | 5,212,097 | 4,625,851 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale and other securities | 5,311,105 | 4,643,073 |
Municipal securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost, Under 1 year | 316,563 | 281,644 |
Amortized Cost, 1-5 years | 699,471 | 587,664 |
Amortized Cost, 6-10 years | 1,029,450 | 1,053,502 |
Amortized Cost, Over 10 years | 488,761 | 509,133 |
Amortized Cost | 2,534,245 | 2,431,943 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 306,297 | 280,823 |
Fair Value, 1-5 years | 707,937 | 587,345 |
Fair Value, 6-10 years | 1,049,301 | 1,048,550 |
Fair Value, Over 10 years | 518,092 | 539,678 |
Available-for-sale and other securities | 2,581,627 | 2,456,396 |
Asset-backed securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost, Under 1 year | 0 | 0 |
Amortized Cost, 1-5 years | 174,999 | 110,115 |
Amortized Cost, 6-10 years | 88,174 | 128,342 |
Amortized Cost, Over 10 years | 656,860 | 662,602 |
Amortized Cost | 920,033 | 901,059 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 176,453 | 109,300 |
Fair Value, 6-10 years | 90,210 | 128,208 |
Fair Value, Over 10 years | 623,909 | 623,905 |
Available-for-sale and other securities | 890,572 | 861,413 |
Corporate debt | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost, Under 1 year | 94,200 | 300 |
Amortized Cost, 1-5 years | 346,755 | 356,513 |
Amortized Cost, 6-10 years | 66,337 | 107,394 |
Amortized Cost, Over 10 years | 0 | 0 |
Amortized Cost | 507,292 | 464,207 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 95,772 | 302 |
Fair Value, 1-5 years | 355,944 | 360,653 |
Fair Value, 6-10 years | 68,288 | 105,522 |
Fair Value, Over 10 years | 0 | 0 |
Available-for-sale and other securities | 520,004 | 466,477 |
Other securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost, Under 1 year | 0 | 0 |
Amortized Cost, 1-5 years | 3,950 | 3,950 |
Amortized Cost, 6-10 years | 0 | 0 |
Amortized Cost, Over 10 years | 0 | 0 |
Amortized Cost | 349,293 | 347,863 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 3,947 | 3,898 |
Fair Value, 6-10 years | 0 | 0 |
Fair Value, Over 10 years | 0 | 0 |
Available-for-sale and other securities | 349,730 | 348,082 |
Non-marketable equity securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost | 333,751 | 332,786 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale and other securities | 333,751 | 332,786 |
Mutual funds | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost | 11,069 | 10,604 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale and other securities | 11,069 | 10,604 |
Marketable equity securities | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | ||
Amortized Cost | 523 | 523 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale and other securities | $ 963 | $ 794 |
AVAILABLE-FOR-SALE AND OTHER SECURITIES - Schedule of Amortized Cost, Fair Value, and Gross Unrealized Gains and Losses (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 9,522,960 | $ 8,770,923 |
Unrealized Gross Gains | 193,331 | 88,169 |
Unrealized Gross Losses | (63,253) | (83,651) |
Fair Value | 9,653,038 | 8,775,441 |
U.S. Treasury | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 7,266 | 5,457 |
Unrealized Gross Gains | 54 | 15 |
Unrealized Gross Losses | 0 | 0 |
Fair Value | 7,320 | 5,472 |
Federal agencies: Mortgage-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 5,121,788 | 4,505,318 |
Unrealized Gross Gains | 96,433 | 30,078 |
Unrealized Gross Losses | (429) | (13,708) |
Fair Value | 5,217,792 | 4,521,688 |
Federal agencies, Other agencies | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 83,043 | 115,076 |
Unrealized Gross Gains | 2,950 | 888 |
Unrealized Gross Losses | 0 | (51) |
Fair Value | 85,993 | 115,913 |
Total U.S. Treasury, Federal agency securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 5,212,097 | 4,625,851 |
Unrealized Gross Gains | 99,437 | 30,981 |
Unrealized Gross Losses | (429) | (13,759) |
Fair Value | 5,311,105 | 4,643,073 |
Municipal securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,534,245 | 2,431,943 |
Unrealized Gross Gains | 75,326 | 51,558 |
Unrealized Gross Losses | (27,944) | (27,105) |
Fair Value | 2,581,627 | 2,456,396 |
Asset-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 920,033 | 901,059 |
Unrealized Gross Gains | 5,408 | 535 |
Unrealized Gross Losses | (34,869) | (40,181) |
Fair Value | 890,572 | 861,413 |
Corporate debt | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 507,292 | 464,207 |
Unrealized Gross Gains | 12,720 | 4,824 |
Unrealized Gross Losses | (8) | (2,554) |
Fair Value | 520,004 | 466,477 |
Other securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 349,293 | 347,863 |
Unrealized Gross Gains | 440 | 271 |
Unrealized Gross Losses | (3) | (52) |
Fair Value | $ 349,730 | $ 348,082 |
AVAILABLE-FOR-SALE AND OTHER SECURITIES AVAILABLE-FOR-SALE AND OTHER SECURITIES - Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Fair Value | ||
Less than 12 Months | $ 886,516 | $ 2,987,605 |
Over 12 Months | 347,364 | 563,431 |
Total | 1,233,880 | 3,551,036 |
Unrealized Losses | ||
Less than 12 Months | (23,415) | (34,876) |
Over 12 Months | (39,838) | (48,775) |
Total | (63,253) | (83,651) |
Federal agencies: Mortgage-backed securities | ||
Fair Value | ||
Less than 12 Months | 104,627 | 1,658,516 |
Over 12 Months | 32,718 | 84,147 |
Total | 137,345 | 1,742,663 |
Unrealized Losses | ||
Less than 12 Months | (263) | (11,341) |
Over 12 Months | (166) | (2,367) |
Total | (429) | (13,708) |
Federal agencies, Other agencies | ||
Fair Value | ||
Less than 12 Months | 0 | 37,982 |
Over 12 Months | 0 | 0 |
Total | 0 | 37,982 |
Unrealized Losses | ||
Less than 12 Months | 0 | (51) |
Over 12 Months | 0 | 0 |
Total | 0 | (51) |
Total U.S. Treasury, Federal agency securities | ||
Fair Value | ||
Less than 12 Months | 104,627 | 1,696,498 |
Over 12 Months | 32,718 | 84,147 |
Total | 137,345 | 1,780,645 |
Unrealized Losses | ||
Less than 12 Months | (263) | (11,392) |
Over 12 Months | (166) | (2,367) |
Total | (429) | (13,759) |
Municipal securities | ||
Fair Value | ||
Less than 12 Months | 537,833 | 570,916 |
Over 12 Months | 187,853 | 248,204 |
Total | 725,686 | 819,120 |
Unrealized Losses | ||
Less than 12 Months | (20,445) | (15,992) |
Over 12 Months | (7,499) | (11,113) |
Total | (27,944) | (27,105) |
Asset-backed securities | ||
Fair Value | ||
Less than 12 Months | 244,056 | 552,275 |
Over 12 Months | 124,200 | 207,639 |
Total | 368,256 | 759,914 |
Unrealized Losses | ||
Less than 12 Months | (2,707) | (5,791) |
Over 12 Months | (32,162) | (34,390) |
Total | (34,869) | (40,181) |
Corporate debt | ||
Fair Value | ||
Less than 12 Months | 0 | 167,144 |
Over 12 Months | 296 | 21,965 |
Total | 296 | 189,109 |
Unrealized Losses | ||
Less than 12 Months | 0 | (1,673) |
Over 12 Months | (8) | (881) |
Total | (8) | (2,554) |
Other securities | ||
Fair Value | ||
Less than 12 Months | 772 | |
Over 12 Months | 2,297 | 1,476 |
Total | 2,297 | 2,248 |
Unrealized Losses | ||
Less than 12 Months | (28) | |
Over 12 Months | (3) | (24) |
Total | $ (3) | $ (52) |
AVAILABLE-FOR-SALE AND OTHER SECURITIES AVAILABLE-FOR-SALE AND OTHER SECURITIES - Gross Realized Gains (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Investments, Debt and Equity Securities [Abstract] | ||||
Available-for-sale Securities, Gross Realized Gains | $ 3,391 | $ 82 | $ 3,391 | $ 82 |
Available-for-sale Securities, Gross Realized Losses | 2,659 | 0 | 2,659 | |
Available-for-sale Securities, Gross Realized Gain (Loss) | $ 732 | $ 82 | $ 732 | $ 82 |
AVAILABLE-FOR-SALE AND OTHER SECURITIES - Collateralized Debt Obligation (Details) $ in Thousands |
Jan. 14, 2014
agency
|
Jun. 30, 2016
USD ($)
pool
|
Dec. 31, 2015
USD ($)
|
---|---|---|---|
Schedule of Available-for-sale Securities [Line Items] | |||
Unrealized Gross Losses | $ (63,253) | $ (83,651) | |
Pooled Trust Preferred | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Number of federal agencies | agency | 5 | ||
Number of pools of trust preferred securities | pool | 7 | ||
Number of pools of trust preferred securities included in the no-exclusive list | pool | 6 | ||
Par Value | $ 137,575 | 179,574 | |
Amortized Cost | 102,359 | 131,911 | |
Fair Value | 71,380 | 100,338 | |
Unrealized Gross Losses | (30,980) | $ (31,654) | |
Pooled Trust Preferred | ICONS | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Par Value | 18,912 | ||
Amortized Cost | 18,912 | ||
Fair Value | 14,997 | ||
Unrealized Gross Losses | $ (3,915) | ||
Actual Deferrals and Defaults as Percent of Original Collateral | 7.00% | ||
Expected Defaults as Percent of Remaining Performing Collateral | 14.00% | ||
Excess Subordination | 52.00% | ||
Pooled Trust Preferred | MM Comm III | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Par Value | $ 4,633 | ||
Amortized Cost | 4,426 | ||
Fair Value | 3,524 | ||
Unrealized Gross Losses | $ (902) | ||
Actual Deferrals and Defaults as Percent of Original Collateral | 5.00% | ||
Expected Defaults as Percent of Remaining Performing Collateral | 6.00% | ||
Excess Subordination | 35.00% | ||
Pooled Trust Preferred | Pre TSL IX | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Par Value | $ 5,000 | ||
Amortized Cost | 3,955 | ||
Fair Value | 2,995 | ||
Unrealized Gross Losses | $ (960) | ||
Actual Deferrals and Defaults as Percent of Original Collateral | 18.00% | ||
Expected Defaults as Percent of Remaining Performing Collateral | 10.00% | ||
Excess Subordination | 7.00% | ||
Pooled Trust Preferred | Pre TSL XI | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Par Value | $ 25,000 | ||
Amortized Cost | 19,878 | ||
Fair Value | 14,453 | ||
Unrealized Gross Losses | $ (5,426) | ||
Actual Deferrals and Defaults as Percent of Original Collateral | 16.00% | ||
Expected Defaults as Percent of Remaining Performing Collateral | 8.00% | ||
Excess Subordination | 12.00% | ||
Pooled Trust Preferred | Pre TSL XIII | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Par Value | $ 27,530 | ||
Amortized Cost | 19,434 | ||
Fair Value | 15,687 | ||
Unrealized Gross Losses | $ (3,748) | ||
Actual Deferrals and Defaults as Percent of Original Collateral | 10.00% | ||
Expected Defaults as Percent of Remaining Performing Collateral | 11.00% | ||
Excess Subordination | 26.00% | ||
Pooled Trust Preferred | Reg Diversified | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Par Value | $ 25,500 | ||
Amortized Cost | 4,754 | ||
Fair Value | 1,800 | ||
Unrealized Gross Losses | $ (2,953) | ||
Actual Deferrals and Defaults as Percent of Original Collateral | 33.00% | ||
Expected Defaults as Percent of Remaining Performing Collateral | 7.00% | ||
Excess Subordination | 0.00% | ||
Pooled Trust Preferred | Tropic III | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Par Value | $ 31,000 | ||
Amortized Cost | 31,000 | ||
Fair Value | 17,924 | ||
Unrealized Gross Losses | $ (13,076) | ||
Actual Deferrals and Defaults as Percent of Original Collateral | 19.00% | ||
Expected Defaults as Percent of Remaining Performing Collateral | 7.00% | ||
Excess Subordination | 39.00% |
AVAILABLE-FOR-SALE AND OTHER SECURITIES - OTTI by Security Type (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Schedule of Available-for-sale Securities [Line Items] | ||||
Impairment losses recognized in earnings on available-for-sale securities | $ 76 | $ 0 | $ 76 | $ 0 |
Reductions from sales | (8,613) | 0 | (8,613) | 0 |
Additional credit losses | 76 | 0 | 76 | 0 |
Debt Securities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Impairment losses recognized in earnings on available-for-sale securities | 76 | 0 | 76 | 0 |
Fixed Income Securities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Impairment losses recognized in earnings on available-for-sale securities | $ 76 | $ 0 | $ 76 | $ 0 |
AVAILABLE-FOR-SALE AND OTHER SECURITIES AVAILABLE-FOR-SALE AND OTHER SECURITIES - Security Impairment (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||||
Impairment losses recognized in earnings on available-for-sale securities | $ 76 | $ 0 | $ 76 | $ 0 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||||
Balance, beginning of year | 18,368 | 30,869 | 18,368 | 30,869 |
Reductions from sales | (8,613) | 0 | (8,613) | 0 |
Additional credit losses | 76 | 0 | 76 | 0 |
Balance, end of year | 9,831 | 30,869 | 9,831 | 30,869 |
Fixed Income Securities | ||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||||
Impairment losses recognized in earnings on available-for-sale securities | 76 | 0 | 76 | 0 |
Debt Securities | ||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||||
Impairment losses recognized in earnings on available-for-sale securities | $ 76 | $ 0 | $ 76 | $ 0 |
HELD-TO-MATURITY SECURITIES - Narrative (Details) - USD ($) |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2016 |
Dec. 31, 2015 |
|
Held-to-maturity Securities [Abstract] | ||
Available For Sale Securities Transferred To Held To Maturity Securities | $ 3,000,000,000 | |
Unrealized Net Losses Recognized In Oci At Time Of Transfer Of Available For Sale Securities Transferred To Held To Maturity Securities | $ 6,000,000 | |
Other than temporary impairment losses, held-to-maturity securities | $ 0 |
HELD-TO-MATURITY SECURITIES - Contractual Maturities (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | ||
Held-to-maturity securities | $ 5,658,565 | $ 6,159,590 |
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value | 5,786,224 | 6,135,458 |
Federal agencies: Mortgage-backed securities | ||
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | ||
Held-to-maturity Securities, Under 1 year | 0 | 0 |
Held-to-maturity Securities, 1-5 years | 0 | 0 |
Held-to-maturity Securities, 6-10 years | 43,441 | 25,909 |
Held-to-maturity Securities, Over 10 years | 5,015,636 | 5,506,592 |
Held-to-maturity securities | 5,059,077 | 5,532,501 |
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 0 | 0 |
Fair Value, 6-10 years | 44,543 | 25,227 |
Fair Value, Over 10 years | 5,126,798 | 5,484,407 |
Fair Value | 5,171,341 | 5,509,634 |
Federal agencies, Other agencies | ||
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | ||
Held-to-maturity Securities, Under 1 year | 0 | 0 |
Held-to-maturity Securities, 1-5 years | 0 | 0 |
Held-to-maturity Securities, 6-10 years | 309,750 | 283,960 |
Held-to-maturity Securities, Over 10 years | 283,113 | 336,092 |
Held-to-maturity securities | 592,863 | 620,052 |
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 0 | 0 |
Fair Value, 6-10 years | 317,300 | 284,907 |
Fair Value, Over 10 years | 290,830 | 334,004 |
Fair Value | 608,130 | 618,911 |
Total U.S. Treasury, Federal agency securities | ||
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | ||
Held-to-maturity securities | 5,651,940 | 6,152,553 |
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value | 5,779,471 | 6,128,545 |
Municipal securities | ||
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | ||
Held-to-maturity Securities, Under 1 year | 0 | 0 |
Held-to-maturity Securities, 1-5 years | 0 | 0 |
Held-to-maturity Securities, 6-10 years | 0 | 0 |
Held-to-maturity Securities, Over 10 years | 6,625 | 7,037 |
Held-to-maturity securities | 6,625 | 7,037 |
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 0 | 0 |
Fair Value, 6-10 years | 0 | 0 |
Fair Value, Over 10 years | 6,753 | 6,913 |
Fair Value | $ 6,753 | $ 6,913 |
HELD-TO-MATURITY SECURITIES - Amortized Cost, Gross Unrealized Gains and Losses, & Fair Value (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 5,658,565 | $ 6,159,590 |
Unrealized Gross Gains | 129,706 | 16,282 |
Unrealized Gross Losses | (2,047) | (40,414) |
Fair Value | 5,786,224 | 6,135,458 |
Federal agencies: Mortgage-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 5,059,077 | 5,532,501 |
Unrealized Gross Gains | 114,311 | 14,637 |
Unrealized Gross Losses | (2,047) | (37,504) |
Fair Value | 5,171,341 | 5,509,634 |
Federal agencies, Other agencies | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 592,863 | 620,052 |
Unrealized Gross Gains | 15,267 | 1,645 |
Unrealized Gross Losses | 0 | (2,786) |
Fair Value | 608,130 | 618,911 |
Total U.S. Treasury, Federal agency securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 5,651,940 | 6,152,553 |
Unrealized Gross Gains | 129,578 | 16,282 |
Unrealized Gross Losses | (2,047) | (40,290) |
Fair Value | 5,779,471 | 6,128,545 |
Municipal securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 6,625 | 7,037 |
Unrealized Gross Gains | 128 | 0 |
Unrealized Gross Losses | 0 | (124) |
Fair Value | $ 6,753 | $ 6,913 |
HELD-TO-MATURITY SECURITIES - Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Fair Value | ||
Less than 12 Months | $ 96,614 | $ 4,118,300 |
Over 12 Months | 162,973 | 533,432 |
Total | 259,587 | 4,651,732 |
Unrealized Losses | ||
Less than 12 Months | (560) | (28,107) |
Over 12 Months | (1,487) | (12,307) |
Total | (2,047) | (40,414) |
Federal agencies: Mortgage-backed securities | ||
Fair Value | ||
Less than 12 Months | 96,614 | 3,692,890 |
Over 12 Months | 162,973 | 519,872 |
Total | 259,587 | 4,212,762 |
Unrealized Losses | ||
Less than 12 Months | (560) | (25,418) |
Over 12 Months | (1,487) | (12,086) |
Total | (2,047) | (37,504) |
Federal agencies, Other agencies | ||
Fair Value | ||
Less than 12 Months | 0 | 425,410 |
Over 12 Months | 0 | 6,647 |
Total | 0 | 432,057 |
Unrealized Losses | ||
Less than 12 Months | 0 | (2,689) |
Over 12 Months | 0 | (97) |
Total | 0 | (2,786) |
Total U.S. Treasury, Federal agency securities | ||
Fair Value | ||
Less than 12 Months | 96,614 | 4,118,300 |
Over 12 Months | 162,973 | 526,519 |
Total | 259,587 | 4,644,819 |
Unrealized Losses | ||
Less than 12 Months | (560) | (28,107) |
Over 12 Months | (1,487) | (12,183) |
Total | (2,047) | (40,290) |
Municipal securities | ||
Fair Value | ||
Less than 12 Months | 0 | 0 |
Over 12 Months | 0 | 6,913 |
Total | 0 | 6,913 |
Unrealized Losses | ||
Less than 12 Months | 0 | 0 |
Over 12 Months | 0 | (124) |
Total | $ 0 | $ (124) |
LOAN SALES AND SECURITIZATIONS - Narrative (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Dec. 31, 2012 |
Mar. 31, 2012 |
Sep. 30, 2011 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Dec. 31, 2015 |
|
Servicing Assets at Fair Value [Line Items] | ||||||||
Total of automobile loans transferred in securitization transactions | $ 800,000 | $ 1,000,000 | $ 1,300,000 | $ 1,000,000 | ||||
Residential Mortgage | ||||||||
Servicing Assets at Fair Value [Line Items] | ||||||||
Loans with servicing retained sold | $ 715,589 | 938,412 | $ 1,348,055 | $ 1,569,096 | ||||
Servicing income | 12,000 | 11,000 | 23,800 | 23,000 | ||||
Pretax gains resulting from above loan sales | 18,618 | 27,471 | 32,731 | 42,334 | ||||
Unpaid principal balance of third party serviced loans | 16,200,000 | 16,200,000 | $ 16,200,000 | |||||
Automobile Loan | ||||||||
Servicing Assets at Fair Value [Line Items] | ||||||||
Loans with servicing retained sold | 0 | 0 | 750,000 | 0 | ||||
Servicing income | 2,000 | 3,000 | 4,900 | 6,600 | ||||
Pretax gains resulting from above loan sales | 0 | 0 | 5,333 | 0 | ||||
Unpaid principal balance of third party serviced loans | 600,000 | 600,000 | 900,000 | |||||
Small Business Association (SBA) Loan | ||||||||
Servicing Assets at Fair Value [Line Items] | ||||||||
Loans with servicing retained sold | 58,629 | 53,534 | 104,518 | 95,935 | ||||
Servicing income | 2,000 | 2,000 | 4,500 | 4,100 | ||||
Pretax gains resulting from above loan sales | 4,662 | $ 4,696 | 8,183 | $ 8,270 | ||||
Unpaid principal balance of third party serviced loans | $ 1,100,000 | $ 1,100,000 | $ 1,000,000 |
LOAN SALES AND SECURITIZATIONS - Residential Mortgage Portfolio (Details) - Residential Mortgage - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Servicing Asset at Amortized Cost [Line Items] | ||||
Loans sold with servicing retained | $ 715,589 | $ 938,412 | $ 1,348,055 | $ 1,569,096 |
Pretax gains resulting from above loan sales | $ 18,618 | $ 27,471 | $ 32,731 | $ 42,334 |
LOAN SALES AND SECURITIZATIONS - Residential Mortgage Portfolio, MSRs Fair Value Method (Details) - Residential Mortgage - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Servicing Asset at Fair Value, Amount [Roll Forward] | ||||
Fair value, beginning of period | $ 14,819 | $ 20,455 | $ 17,585 | $ 22,786 |
Time decay | (245) | (332) | (518) | (671) |
Payoffs | (465) | (997) | (969) | (1,815) |
Changes in valuation inputs or assumptions | (1,004) | 1,555 | (2,993) | 381 |
Fair value, end of period: | $ 13,105 | $ 20,681 | $ 13,105 | $ 20,681 |
Fair value method | ||||
Servicing Asset at Fair Value, Amount [Roll Forward] | ||||
Weighted-average life (years) | 5 years 1 month | 5 years 1 month | 5 years 1 month | 5 years 1 month |
LOAN SALES AND SECURITIZATIONS - Residential Mortgage Portfolio, MSRs Amortization Method (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Dec. 31, 2015 |
|
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Fair value, end of period | $ 159,467 | $ 159,467 | $ 189,237 | ||
Residential Mortgage | |||||
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Carrying value, beginning of period | 127,275 | $ 125,454 | 143,133 | $ 132,813 | |
New servicing assets created | 7,277 | 10,338 | 13,386 | 16,792 | |
Servicing assets acquired | 0 | 0 | 0 | 0 | |
Impairment (charge) / recovery | (7,295) | 12,970 | (23,635) | 4,980 | |
Amortization and other | (5,965) | (5,635) | (11,592) | (11,458) | |
Carrying value, end of period | 121,292 | 143,127 | 121,292 | 143,127 | |
Fair value, end of period | $ 121,464 | $ 143,434 | $ 121,464 | $ 143,434 | |
Residential Mortgage | Amortization method | |||||
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Weighted-average life (years) | 6 years 1 month | 6 years 6 months | 6 years 1 month | 6 years 6 months |
LOAN SALES AND SECURITIZATIONS LOAN SALES AND SECURTIZIATIONS - Residential Mortgage Portfolio, MSRs Fair Value Method Key Assumptions (Details) - Fair value method - Residential Mortgage - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2016 |
Dec. 31, 2015 |
|
Servicing Assets at Fair Value [Line Items] | ||
Constant prepayment rate (annualized), actual | 12.70% | 14.70% |
Constant prepayment rate (annualized), 10% adverse change | $ (569) | $ (864) |
Constant prepayment rate (annualized), 20% adverse change | $ (1,098) | $ (1,653) |
Spread over forward interest rate swap rates, actual | 5.51% | 5.39% |
Spread over forward interest rate swap rates, 10% adverse change | $ (414) | $ (559) |
Spread over forward interest rate swap rates, 20% adverse change | $ (802) | $ (1,083) |
LOAN SALES AND SECURITIZATIONS - Residential Mortgage Portfolio, MSRs Amortization Method Key Assumptions (Details) - Amortization method - Residential Mortgage - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2016 |
Dec. 31, 2015 |
|
Servicing Asset at Amortized Cost [Line Items] | ||
Constant prepayment rate (annualized), actual | 10.50% | 11.10% |
Constant prepayment rate (annualized), 10% adverse change | $ (4,375) | $ (5,543) |
Constant prepayment rate (annualized), 20% adverse change | $ (8,445) | $ (10,648) |
Spread over forward interest rate swap rates, actual | 12.08% | 8.75% |
Spread over forward interest rate swap rates, 10% adverse change | $ (3,530) | $ (4,662) |
Spread over forward interest rate swap rates, 20% adverse change | $ (6,848) | $ (9,017) |
LOAN SALES AND SECURITIZATIONS LOAN SALES AND SECURITIZATIONS - Automobile Loans (Details) - Automobile Loan - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Transfer of Financial Assets Accounted for as Sales [Line Items] | ||||
Loans with servicing retained sold | $ 0 | $ 0 | $ 750,000 | $ 0 |
Pretax gains resulting from above loan sales | $ 0 | $ 0 | $ 5,333 | $ 0 |
LOAN SALES AND SECURITIZATIONS - Automobile Loans, MSRs Amortization Method (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Dec. 31, 2015 |
|
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Fair value, end of period | $ 159,467 | $ 159,467 | $ 189,237 | ||
Automobile Loan | |||||
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Carrying value, beginning of period | 7,029 | $ 5,063 | 8,771 | $ 6,898 | |
New servicing assets created | 0 | 11,180 | 0 | 11,180 | |
Amortization and other | (1,571) | (1,913) | (3,313) | (3,748) | |
Fair value, end of period | 5,551 | 14,336 | 5,551 | 14,336 | |
Carrying value, end of period | $ 5,458 | $ 14,330 | $ 5,458 | $ 14,330 | |
Automobile Loan | Amortization method | |||||
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Weighted-average life (years) | 3 years | 3 years 2 months | 3 years | 3 years 2 months |
LOAN SALES AND SECURITIZATIONS - Automobile Loans, MSRs Amortizations Method Key Assumptions (Details) - Amortization method - Automobile Loan - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2016 |
Dec. 31, 2015 |
|
Servicing Asset at Amortized Cost [Line Items] | ||
Constant prepayment rate (annualized), actual | 18.48% | 18.36% |
Constant prepayment rate (annualized), 10% adverse change | $ (240) | $ (500) |
Constant prepayment rate (annualized), 20% adverse change | $ (469) | $ (895) |
Spread over forward interest rate swap rates, actual | 5.00% | 5.00% |
Spread over forward interest rate swap rates, 10% adverse change | $ (5) | $ (10) |
Spread over forward interest rate swap rates, 20% adverse change | $ (10) | $ (19) |
LOAN SALES AND SECURITIZATIONS - Small Business Association Portfolio (Details) - Small Business Association (SBA) Loan - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Transfer of Financial Assets Accounted for as Sales [Line Items] | ||||
Loans with servicing retained sold | $ 58,629 | $ 53,534 | $ 104,518 | $ 95,935 |
Pretax gains resulting from above loan sales | $ 4,662 | $ 4,696 | $ 8,183 | $ 8,270 |
LOAN SALES AND SECURITIZATIONS - Small Business Association Portfolio, MSRs Amortization Method (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Dec. 31, 2015 |
|
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Fair value, end of period | $ 159,467 | $ 159,467 | $ 189,237 | ||
Small Business Association (SBA) Loan | |||||
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Carrying value, beginning of period | 19,526 | $ 17,947 | 19,747 | $ 18,536 | |
New servicing assets created | 1,868 | 1,839 | 3,380 | 3,296 | |
Amortization and other | (1,782) | (1,514) | (3,515) | (3,560) | |
Carrying value, end of period | 19,612 | 18,272 | 19,612 | 18,272 | |
Fair value, end of period | $ 23,823 | $ 20,350 | $ 23,823 | $ 20,350 | |
Weighted-average life (years) | 3 years 4 months | 3 years 4 months | 3 years 3 months 18 days | 3 years 4 months |
LOAN SALES AND SECURITIZATIONS - Small Business Association Portfolio, MSRs Amortization Method Key Assumptions (Details) - Small Business Association (SBA) Loan - Amortization method - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2016 |
Dec. 31, 2015 |
|
Servicing Asset at Amortized Cost [Line Items] | ||
Constant prepayment rate (annualized), actual | 7.50% | 7.60% |
Constant prepayment rate (annualized), 10% adverse change | $ (326) | $ (313) |
Constant prepayment rate (annualized), 20% adverse change | $ (648) | $ (622) |
Spread over forward interest rate swap rates, actual | 15.00% | 15.00% |
Spread over forward interest rate swap rates, 10% adverse change | $ (637) | $ (610) |
Spread over forward interest rate swap rates, 20% adverse change | $ (1,248) | $ (1,194) |
LONG-TERM DEBT (Details) - Senior Notes - 3.15% Senior notes Due March 2021 |
Mar. 14, 2016
USD ($)
|
---|---|
Debt Instrument [Line Items] | |
Debt face amount | $ 1,000,000,000.0 |
Debt percent of value | 99.803% |
Debt stated interest rate | 3.15% |
Debt issuance costs | $ 6,000,000 |
OTHER COMPREHENSIVE INCOME - Activity (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI for Write-down of Securities, before Tax | $ 1,032 | $ 13,490 | ||
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI for Write-down of Securities, Tax | 365 | 4,770 | ||
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI for Write-down of Securities, Net of Tax | 667 | 8,720 | ||
Pretax | ||||
Non-credit-related impairment losses (recoveries) on debt (equity) securities not expected to be sold, before-tax | $ (2,602) | $ 18,735 | ||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period, pretax | 1,989 | (829) | 16,218 | 27,317 |
Less: Reclassification adjustment for net losses (gains) losses included in net income, pretax | (248) | (138) | (892) | (261) |
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships, pretax | 1,741 | (967) | 15,326 | 27,056 |
Change in pension and post-retirement benefit plan assets and liabilities, pretax | 1,293 | 1,390 | 2,586 | 2,779 |
Total other comprehensive income (loss), pretax | 52,116 | (38,310) | 143,468 | 56,738 |
Tax (Expense) Benefit | ||||
Non-credit-related impairment losses (recoveries) on debt (equity) securities not expected to be sold, tax (expense) benefit | 920 | (6,625) | ||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period, tax (expense) benefit | (696) | 290 | (5,676) | (9,561) |
Less: Reclassification adjustment for net losses (gains) losses included in net income, tax (expense) benefit | 89 | 48 | 313 | 91 |
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | (607) | 338 | (5,363) | (9,470) |
Change in pension and post-retirement benefit plan assets and liabilities, tax (expense) benefit | (453) | (487) | (905) | (973) |
Total other comprehensive income (loss), tax (expense) benefit | (18,872) | 13,492 | (51,352) | (20,096) |
After-tax | ||||
Transition obligation | 667 | 8,720 | (1,682) | 12,110 |
Unrealized net gains (losses) on available-for-sale and other securities arising during the period, net of reclassification for net realized gains | 30,603 | (33,812) | 82,154 | 5,140 |
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period, after-tax | 1,293 | (539) | 10,542 | 17,756 |
Less: Reclassification adjustment for net losses (gains) losses included in net income, after-tax | (159) | (90) | (579) | (170) |
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships, after tax | 1,134 | (629) | 9,963 | 17,586 |
Change in pension and post-retirement benefit plan assets and liabilities, after-tax | 840 | 903 | 1,681 | 1,806 |
Other comprehensive income (loss), net of tax | 33,244 | (24,818) | 92,116 | 36,642 |
Debt Securities | ||||
Pretax | ||||
Unrealized holding gains (losses) on debt (equity) securities available for sale arising during the period, pretax | 50,278 | (52,119) | 130,746 | 8,384 |
Less: Reclassification adjustment for net losses (gains) losses included in net income, pretax | (2,294) | (120) | (2,758) | (241) |
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, pretax | 49,016 | (38,749) | 125,386 | 26,878 |
Tax (Expense) Benefit | ||||
Unrealized holding gains (losses) on debt (equity) securities available for sale arising during the period, tax (expense) benefit | (18,234) | 18,374 | (46,919) | (3,103) |
Less: Reclassification adjustment for net losses (gains) losses included in net income, tax (expense) benefit | 811 | 42 | 975 | 84 |
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, tax (expense) benefit | (17,788) | 13,646 | (45,024) | (9,644) |
After-tax | ||||
Unrealized holding gains (losses) on debt (equity) securities available for sale arising during the period, after-tax | 32,044 | (33,745) | 83,827 | 5,281 |
Less: Reclassification adjustment for net losses (gains) losses included in net income, after-tax | (1,483) | (78) | (1,783) | (157) |
Unrealized net gains (losses) on available-for-sale and other securities arising during the period, net of reclassification for net realized gains | 31,228 | (25,103) | 80,362 | 17,234 |
Equity Securities | ||||
Pretax | ||||
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, pretax | 66 | 16 | 170 | 25 |
Tax (Expense) Benefit | ||||
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, tax (expense) benefit | (24) | (5) | (60) | (9) |
After-tax | ||||
Unrealized net gains (losses) on available-for-sale and other securities arising during the period, net of reclassification for net realized gains | $ 42 | $ 11 | 110 | 16 |
Accumulated Other Comprehensive Loss | ||||
After-tax | ||||
Other comprehensive income (loss), net of tax | $ 92,116 | $ 36,642 |
OTHER COMPREHENSIVE INCOME OTHER COMPREHENSIVE INCOME - AOCI Roll Forward (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |
---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Balance, beginning of period | $ 6,594,606 | $ 6,328,170 | |
Other comprehensive income before reclassifications | 92,797 | 35,163 | |
Amounts reclassified from accumulated OCI to earnings | (681) | 1,479 | |
Period change | 36,642 | ||
Balance, end of period | $ 7,507,304 | 7,507,304 | 6,496,258 |
Unrealized gains and (losses) on debt securities | Debt Securities | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Balance, beginning of period | 8,361 | 15,137 | |
Other comprehensive income before reclassifications | 82,145 | 17,391 | |
Amounts reclassified from accumulated OCI to earnings | (1,783) | (157) | |
Period change | 80,362 | 17,234 | |
Balance, end of period | 88,723 | 88,723 | 32,371 |
Unrealized gains and (losses) on debt securities | Equity Securities | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Balance, beginning of period | 176 | 484 | |
Other comprehensive income before reclassifications | 110 | 16 | |
Amounts reclassified from accumulated OCI to earnings | 0 | 0 | |
Period change | 110 | 16 | |
Balance, end of period | 286 | 286 | 500 |
Unrealized gains and (losses) on cash flow hedging derivatives | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Balance, beginning of period | (3,948) | (12,233) | |
Other comprehensive income before reclassifications | 10,542 | 17,756 | |
Amounts reclassified from accumulated OCI to earnings | (579) | (170) | |
Period change | 9,963 | 17,586 | |
Balance, end of period | 6,015 | 6,015 | 5,353 |
Unrealized gains (losses) for pension and other post- retirement obligations | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Balance, beginning of period | (230,747) | (225,680) | |
Other comprehensive income before reclassifications | 0 | 0 | |
Amounts reclassified from accumulated OCI to earnings | 1,681 | 1,806 | |
Period change | 1,681 | 1,806 | |
Balance, end of period | (229,066) | (229,066) | (223,874) |
Accumulated Other Comprehensive Loss | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Balance, beginning of period | (226,158) | (222,292) | |
Period change | 92,116 | ||
Balance, end of period | $ (134,042) | (134,042) | (185,650) |
Reclassification out of Accumulated Other Comprehensive Income | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Net unrealized loss on securities transfer | $ 7,000 | $ 9,000 |
OTHER COMPREHENSIVE INCOME - Reclassifications (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - held-to-maturity securities - taxable | $ 35,420 | $ 20,742 | $ 72,209 | $ 41,408 |
Interest income - loans and leases | 469,770 | 436,564 | 933,192 | 857,177 |
Noninterest income - other income | 36,187 | 38,938 | 66,319 | 60,856 |
Income before income taxes | 228,823 | 260,263 | 455,094 | 480,123 |
Provision for income taxes | (54,283) | (64,057) | (109,240) | (118,063) |
Net income applicable to common shares | 154,666 | 188,238 | 317,982 | 346,127 |
Gain (Loss) on Sale of Securities, Net | 732 | 82 | 732 | 82 |
Impairment losses recognized in earnings on available-for-sale securities | 76 | 0 | 76 | 0 |
Unrealized gains and (losses) on debt securities | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - held-to-maturity securities - taxable | 740 | 80 | 1,204 | 201 |
Income before income taxes | 2,294 | 120 | 2,758 | 241 |
Provision for income taxes | (811) | (42) | (975) | (84) |
Net income applicable to common shares | 1,483 | 78 | 1,783 | 157 |
Gain (Loss) on Sale of Securities, Net | 1,630 | 40 | 1,630 | 40 |
Impairment losses recognized in earnings on available-for-sale securities | 76 | 0 | 76 | 0 |
Unrealized gains and (losses) on cash flow hedging derivatives | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Income before income taxes | 892 | 261 | ||
Provision for income taxes | (313) | (91) | ||
Net income applicable to common shares | 579 | 170 | ||
Unrealized gains and (losses) on cash flow hedging derivatives | Interest Rate Contract | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - loans and leases | 248 | 118 | 893 | 251 |
Noninterest income - other income | 0 | 20 | (1) | 10 |
Income before income taxes | 248 | 138 | ||
Provision for income taxes | (89) | (48) | ||
Net income applicable to common shares | 159 | 90 | ||
Amortization of defined benefit pension and post-retirement items: actuarial gains (losses) | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Amortization of defined benefit pension and post-retirement items | (3,570) | (3,763) | ||
Amortization of defined benefit pension and post-retirement items: Prior service credit | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Amortization of defined benefit pension and post-retirement items | 984 | 984 | ||
Unrealized gains (losses) for pension and other post- retirement obligations | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Income before income taxes | (1,293) | (1,390) | (2,586) | (2,779) |
Provision for income taxes | 453 | 487 | 905 | 973 |
Net income applicable to common shares | (840) | (903) | $ (1,681) | $ (1,806) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Gain (Loss), before Tax | (1,785) | (1,882) | ||
Prior service credit | $ 492 | $ 492 |
SHAREHOLDERS' EQUITY (Details) - USD ($) |
3 Months Ended | 6 Months Ended | |||||
---|---|---|---|---|---|---|---|
Jun. 29, 2016 |
Mar. 14, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
May 05, 2016 |
Mar. 11, 2015 |
|
Equity, Class of Treasury Stock [Line Items] | |||||||
Depositary shares issued (in shares) | 24,000,000 | ||||||
Increase in Dividends, Per Share | $ 0.08 | ||||||
Purchase of common stock shares | 8,800,000 | 13,800,000 | |||||
Purchase of common stock, average price per share (in usd per share) | $ 11.20 | $ 10.92 | |||||
2015 Share Repurchase Program | |||||||
Equity, Class of Treasury Stock [Line Items] | |||||||
Stock repurchase program authorized amount | $ 366,000,000 | ||||||
Series D Preferred Stock | |||||||
Equity, Class of Treasury Stock [Line Items] | |||||||
Preferred stock | $ 400,000,000 | $ 200,000,000 | |||||
Preferred Stock, fixed rate | 6.25% | ||||||
Preferred Stock, par value (in dollars per share) | $ 0.01 | ||||||
Preferred Stock, liquidation value per share (in dollars per share) | 1,000 | ||||||
Depositary shares, liquidation value per share (in dollars per share) | $ 25 | ||||||
Redemption period | 90 days | ||||||
Stock issuance costs | $ 15,000,000 |
EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Basic earnings per common share: | ||||
Net income | $ 174,540 | $ 196,206 | $ 345,854 | $ 362,060 |
Preferred stock dividends | (19,874) | (7,968) | (27,872) | (15,933) |
Net income available to common shareholders | $ 154,666 | $ 188,238 | $ 317,982 | $ 346,127 |
Average common shares issued and outstanding (in shares) | 798,167 | 806,891 | 796,961 | 808,335 |
Basic earnings per common share (in usd per share) | $ 0.19 | $ 0.23 | $ 0.40 | $ 0.43 |
Diluted earnings per common share: | ||||
Net income available to common shareholders | $ 154,666 | $ 188,238 | $ 317,982 | $ 346,127 |
Dilutive potential common shares: | ||||
Stock options and restricted stock units and awards | 9,785 | 11,250 | 10,085 | 11,688 |
Shares held in deferred compensation plans | 2,282 | 1,912 | 2,178 | 1,809 |
Other | 137 | 185 | 136 | 191 |
Dilutive potential common shares: | 12,204 | 13,347 | 12,399 | 13,688 |
Total diluted average common shares issued and outstanding (in shares) | 810,371 | 820,238 | 809,360 | 822,023 |
Diluted earnings per common share (in usd per share) | $ 0.19 | $ 0.23 | $ 0.39 | $ 0.42 |
Employee Stock Option | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Options outstanding to purchase common stock shares having antidilutive effect | 4,700 | 1,500 | 4,000 | 1,300 |
BENEFIT PLANS - Narrative (Details) $ in Millions |
6 Months Ended | |
---|---|---|
Jun. 30, 2016
USD ($)
year
|
Dec. 31, 2015 |
|
Defined Benefit Plan, Information about Plan Assets [Abstract] | ||
Fair value of plan assets, Percentage | 100.00% | 100.00% |
Average duration of plan assets investment in bonds, years | 12 years 10 months 11 days | |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | ||
Match - Base pay contributed to the plan | matches participant contributions, up to the first 4% | |
Base Pay Contributed To Plan Profit Sharing | profit-sharing contribution equal to 1% of eligible participants’ 2015 | |
Pension Benefits | ||
Defined Benefit Plan, Information about Plan Assets [Abstract] | ||
Estimated Life Of Benefit Obligations | 11 years 10 months 25 days | |
Post Retirement Benefits | ||
Benefit Plans (Textuals) [Abstract] | ||
Employees retirement age for health care and life insurance benefits under unfunded defined benefit post-retirement plan | year | 55 | |
Deferred Compensation Arrangement With Individual Requisite Service Period | 10 years | |
Plan Amendment Measurement Reduction In Liability | $ | $ 5 | |
Equity Securities | ||
Defined Benefit Plan, Information about Plan Assets [Abstract] | ||
Fair value of plan assets, Percentage | 22.00% | 20.00% |
Defined Benefit Plan, Actual Plan Asset Allocations | 47.00% | |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 20.00% | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 50.00% | |
Covered Bonds | ||
Defined Benefit Plan, Information about Plan Assets [Abstract] | ||
Defined Benefit Plan, Actual Plan Asset Allocations | 52.00% | |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 50.00% | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 80.00% | |
Cash and Cash Equivalents | ||
Defined Benefit Plan, Information about Plan Assets [Abstract] | ||
Defined Benefit Plan, Actual Plan Asset Allocations | 1.00% |
BENEFIT PLANS - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Pension Benefits | ||||
Components of net periodic benefit expense [Abstract] | ||||
Service cost | $ 1,025 | $ 458 | $ 2,050 | $ 915 |
Interest cost | 6,748 | 7,984 | 13,496 | 15,969 |
Expected return on plan assets | (10,224) | (11,044) | (20,447) | (22,087) |
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Amortization of gains (losses) | 1,865 | 1,984 | 3,729 | 3,966 |
Settlements | 3,400 | 3,100 | 6,800 | 5,650 |
Benefit cost (reduction) | 2,814 | 2,482 | 5,628 | 4,413 |
Post Retirement Benefits | ||||
Components of net periodic benefit expense [Abstract] | ||||
Service cost | 0 | 0 | 0 | 0 |
Interest cost | 54 | 142 | 109 | 283 |
Expected return on plan assets | 0 | 0 | 0 | 0 |
Amortization of prior service cost | (492) | (492) | (984) | (984) |
Amortization of gains (losses) | (72) | (116) | (144) | (232) |
Settlements | 0 | 0 | 0 | 0 |
Benefit cost (reduction) | $ (510) | $ (466) | $ (1,019) | $ (933) |
BENEFIT PLANS - Fair Value of Plan Assets (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Summary of plan assets investments | ||
Fair value of plan assets | $ 614,560 | $ 594,217 |
Fair value of plan assets, Percentage | 100.00% | 100.00% |
Huntington funds - money market | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 5,841 | $ 15,590 |
Fair value of plan assets, Percentage | 1.00% | 3.00% |
Corporate Obligations | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 220,504 | $ 205,081 |
Fair value of plan assets, Percentage | 36.00% | 34.00% |
U.S. Government Obligations | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 65,827 | $ 64,456 |
Fair value of plan assets, Percentage | 11.00% | 11.00% |
Mutual funds - fixed income | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 26,661 | $ 32,874 |
Fair value of plan assets, Percentage | 4.00% | 6.00% |
U.S. Government Agencies | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 7,904 | $ 6,979 |
Fair value of plan assets, Percentage | 1.00% | 1.00% |
Mutual Funds - equities | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 129,997 | $ 136,026 |
Fair value of plan assets, Percentage | 21.00% | 23.00% |
Common Stock | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 135,757 | $ 120,046 |
Fair value of plan assets, Percentage | 22.00% | 20.00% |
Exchange Traded Funds | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 6,574 | $ 6,530 |
Fair value of plan assets, Percentage | 1.00% | 1.00% |
Limited Partnerships | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 10,395 | $ 6,635 |
Fair value of plan assets, Percentage | 2.00% | 1.00% |
EquitySecuritiesMember - Huntington Preferred Stock | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 5,100 | $ 0 |
Fair value of plan assets, Percentage | 1.00% |
BENEFIT PLANS - Costs of Retirement Plans (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Compensation and Retirement Disclosure [Abstract] | ||||
Supplemental Executive Retirement Plan And Supplemental Retirement Income Plan | $ 598 | $ 578 | $ 1,312 | $ 1,157 |
Defined Contribution Plan, Cost Recognized | 8,348 | 8,078 | 16,269 | 15,523 |
Benefit Cost | $ 8,946 | $ 8,656 | $ 17,581 | $ 16,680 |
FAIR VALUES OF ASSETS AND LIABILITIES - Recurring Basis (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Assets measured at fair value on a recurring basis | ||
Loans held for investment | $ 36,978 | $ 32,889 |
Trading account securities | 35,289 | 36,997 |
Available-for-sale and other securities | 9,653,038 | 8,775,441 |
U.S. Treasury | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 7,320 | 5,472 |
Federal agencies: Mortgage-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 5,217,792 | 4,521,688 |
Federal agencies, Other agencies | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 85,993 | 115,913 |
Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 2,581,627 | 2,456,396 |
Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 520,004 | 466,477 |
Recurring Basis | ||
Assets measured at fair value on a recurring basis | ||
Loans held for sale | 614,626 | 337,577 |
Trading account securities | 35,289 | 36,997 |
Available-for-sale and other securities | 9,319,288 | 8,442,655 |
Automobile loans | 925 | 1,748 |
MSRs | 13,105 | 17,585 |
Derivative assets netting | (222,765) | (161,297) |
Derivatives assets | 366,007 | 274,872 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts offset in the condensed consolidated balance sheets | (239,910) | (144,309) |
Derivative liabilities | 85,949 | 144,350 |
Short-term borrowings | 907 | 1,770 |
Recurring Basis | U.S. Treasury | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 7,320 | 5,472 |
Recurring Basis | Federal agencies: Mortgage-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 5,217,792 | 4,521,688 |
Recurring Basis | Federal agencies, Other agencies | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 85,993 | 115,913 |
Recurring Basis | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 2,894 | 4,159 |
Available-for-sale and other securities | 2,581,627 | 2,456,396 |
Recurring Basis | Asset-backed Securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 890,573 | 861,413 |
Recurring Basis | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 520,004 | 466,477 |
Recurring Basis | Other Debt Obligations [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 32,395 | 32,838 |
Available-for-sale and other securities | 15,979 | 15,296 |
Recurring Basis | Level 1 | ||
Assets measured at fair value on a recurring basis | ||
Loans held for sale | 0 | 0 |
Loans held for investment | 0 | 0 |
Trading account securities | 32,395 | 32,475 |
Available-for-sale and other securities | 19,352 | 16,869 |
Automobile loans | 0 | 0 |
MSRs | 0 | 0 |
Gross amounts of recognized assets | 0 | 0 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts of recognized liabilities | 0 | 0 |
Short-term borrowings | 0 | 0 |
Recurring Basis | Level 1 | U.S. Treasury | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 7,320 | 5,472 |
Recurring Basis | Level 1 | Federal agencies: Mortgage-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Federal agencies, Other agencies | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Asset-backed Securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 1 | Other Debt Obligations [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 32,395 | 32,475 |
Available-for-sale and other securities | 12,032 | 11,397 |
Recurring Basis | Level 2 | ||
Assets measured at fair value on a recurring basis | ||
Loans held for sale | 614,626 | 337,577 |
Loans held for investment | 36,978 | 32,889 |
Trading account securities | 2,894 | 4,522 |
Available-for-sale and other securities | 6,990,582 | 6,229,898 |
Automobile loans | 0 | 0 |
MSRs | 0 | 0 |
Gross amounts of recognized assets | 573,837 | 429,448 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts of recognized liabilities | 323,675 | 287,994 |
Short-term borrowings | 907 | 1,770 |
Recurring Basis | Level 2 | U.S. Treasury | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 2 | Federal agencies: Mortgage-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 5,217,792 | 4,521,688 |
Recurring Basis | Level 2 | Federal agencies, Other agencies | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 85,993 | 115,913 |
Recurring Basis | Level 2 | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 2,894 | 4,159 |
Available-for-sale and other securities | 343,652 | 360,845 |
Recurring Basis | Level 2 | Asset-backed Securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 819,194 | 761,076 |
Recurring Basis | Level 2 | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 520,004 | 466,477 |
Recurring Basis | Level 2 | Other Debt Obligations [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 363 |
Available-for-sale and other securities | 3,947 | 3,899 |
Recurring Basis | Level 3 | ||
Assets measured at fair value on a recurring basis | ||
Loans held for sale | 0 | 0 |
Loans held for investment | 0 | 0 |
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 2,309,354 | 2,195,888 |
Automobile loans | 925 | 1,748 |
MSRs | 13,105 | 17,585 |
Gross amounts of recognized assets | 14,935 | 6,721 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts of recognized liabilities | 2,184 | 665 |
Short-term borrowings | 0 | 0 |
Recurring Basis | Level 3 | U.S. Treasury | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 3 | Federal agencies: Mortgage-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 3 | Federal agencies, Other agencies | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 3 | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | 2,237,975 | 2,095,551 |
Recurring Basis | Level 3 | Asset-backed Securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 71,379 | 100,337 |
Recurring Basis | Level 3 | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale and other securities | 0 | 0 |
Recurring Basis | Level 3 | Other Debt Obligations [Member] | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale and other securities | $ 0 | $ 0 |
FAIR VALUES OF ASSETS AND LIABILITIES - Level 3 Roll Forward (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Net Derivative Instruments Level 3 Roll Forward: | ||||
Opening balance | $ 6,056 | $ 3,360 | ||
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 | (3,423) | 0 | ||
Total gains/losses for the period: | ||||
Included in earnings | 10,118 | 3,221 | ||
Included in OCI | 0 | 0 | ||
Purchases/originations | 0 | 0 | ||
Sales | 0 | 0 | ||
Repayments | 0 | 0 | ||
Issues | 0 | 0 | ||
Settlements | 0 | (1,415) | ||
Closing balance | $ 12,751 | $ 5,166 | 12,751 | 5,166 |
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | 10,218 | 3,221 | ||
MSRs | ||||
Assets Level 3 Roll Forward: | ||||
Opening balance | 14,819 | 20,455 | 17,585 | 22,786 |
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 (1) | 0 | 0 | ||
Total gains/losses for the period: | ||||
Included in earnings | (1,714) | 226 | (4,480) | (2,105) |
Included in OCI | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | |
Repayments | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | |
Settlements | 0 | 0 | 0 | |
Closing balance | 13,105 | 20,681 | 13,105 | 20,681 |
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | (1,714) | 226 | (4,480) | (2,105) |
Net Derivative Instruments Level 3 Roll Forward: | ||||
Transfers into Level 3 | 0 | |||
Transfers out of Level 3 | 0 | |||
Derivative Instruments [Member] | ||||
Assets Level 3 Roll Forward: | ||||
Opening balance | 10,347 | 7,825 | ||
Total gains/losses for the period: | ||||
Included in earnings | 4,912 | (1,780) | ||
Included in OCI | 0 | |||
Purchases | 0 | |||
Sales | 0 | |||
Repayments | 0 | |||
Issuances | 0 | |||
Settlements | 0 | (879) | ||
Closing balance | 12,751 | 5,166 | 12,751 | 5,166 |
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | 4,912 | (1,780) | ||
Net Derivative Instruments Level 3 Roll Forward: | ||||
Transfers into Level 3 | 0 | |||
Transfers out of Level 3 | 2,508 | |||
Municipal securities | ||||
Assets Level 3 Roll Forward: | ||||
Opening balance | 2,281,743 | 1,635,808 | 2,095,551 | 1,417,593 |
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 (1) | 0 | 0 | ||
Total gains/losses for the period: | ||||
Included in earnings | 0 | 0 | 0 | |
Included in OCI | 7,486 | 2,677 | 19,326 | (1,315) |
Purchases | 46,457 | 99,031 | 283,907 | 342,028 |
Sales | (36,657) | (36,657) | 0 | |
Repayments | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | |
Settlements | (61,054) | (20,671) | (124,152) | (41,461) |
Closing balance | 2,237,975 | 1,716,845 | 2,237,975 | 1,716,845 |
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | 0 | 2,677 | 0 | (1,315) |
Net Derivative Instruments Level 3 Roll Forward: | ||||
Transfers into Level 3 | 0 | |||
Transfers out of Level 3 | 0 | |||
Private label CMO | ||||
Assets Level 3 Roll Forward: | ||||
Opening balance | 30,072 | 30,464 | ||
Transfers into Level 3 | 0 | |||
Transfers out of Level 3 (1) | 0 | |||
Total gains/losses for the period: | ||||
Included in earnings | 11 | 0 | 27 | |
Included in OCI | 505 | 523 | ||
Purchases | 0 | |||
Sales | 0 | |||
Repayments | 0 | |||
Issuances | 0 | |||
Settlements | (1,159) | (1,585) | ||
Closing balance | 29,429 | 29,429 | ||
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | 505 | 523 | ||
Net Derivative Instruments Level 3 Roll Forward: | ||||
Transfers into Level 3 | ||||
Transfers out of Level 3 | ||||
Asset-backed Securities | ||||
Assets Level 3 Roll Forward: | ||||
Opening balance | 94,329 | 89,155 | 100,337 | 82,738 |
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 (1) | 0 | 0 | ||
Total gains/losses for the period: | ||||
Included in earnings | 2 | 6 | 2 | 6 |
Included in OCI | 5,842 | 14,351 | 674 | 21,863 |
Purchases | 0 | 0 | 0 | |
Sales | (27,794) | (27,794) | 0 | |
Repayments | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | |
Settlements | (1,000) | (1,441) | (1,840) | (2,536) |
Closing balance | 71,379 | 102,071 | 71,379 | 102,071 |
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | 2 | 14,351 | 2 | 21,863 |
Net Derivative Instruments Level 3 Roll Forward: | ||||
Transfers into Level 3 | 0 | |||
Transfers out of Level 3 | 0 | |||
Automobile Loan | ||||
Assets Level 3 Roll Forward: | ||||
Opening balance | 1,216 | 6,495 | 1,748 | 10,590 |
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 (1) | 0 | 0 | ||
Total gains/losses for the period: | ||||
Included in earnings | 0 | (213) | 0 | (426) |
Included in OCI | 0 | 0 | 0 | |
Purchases | 0 | 0 | (6,166) | |
Sales | 0 | 0 | 0 | |
Repayments | (291) | (2,284) | (823) | 0 |
Issuances | 0 | 0 | 0 | |
Settlements | 0 | 0 | 0 | |
Closing balance | 925 | 3,998 | 925 | 3,998 |
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | 0 | (213) | $ 0 | $ (426) |
Net Derivative Instruments Level 3 Roll Forward: | ||||
Transfers into Level 3 | 0 | |||
Transfers out of Level 3 | $ 0 |
FAIR VALUES OF ASSETS AND LIABILITIES - Level 3 Classification of Gains/Losses (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net derivative asset (liability), gain (loss) included in earnings | $ 10,118 | $ 3,221 | ||
Mortgage banking income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net derivative asset (liability), gain (loss) included in earnings | 10,118 | 3,221 | ||
Securities gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net derivative asset (liability), gain (loss) included in earnings | 0 | 0 | ||
Interest and fee income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net derivative asset (liability), gain (loss) included in earnings | 0 | 0 | ||
Noninterest income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net derivative asset (liability), gain (loss) included in earnings | 0 | 0 | ||
MSRs | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair Value Asset Measured On Recurring Basis Gain Loss Included In Mortgage banking income loss | $ 1,714 | $ (226) | ||
Asset, gain (loss) included in earnings | (1,714) | 226 | (4,480) | (2,105) |
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Securities Gains Losses | 0 | 0 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Interest and fee income | 0 | 0 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Noninterest income | 0 | 0 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Earnings | (1,714) | 226 | ||
MSRs | Mortgage banking income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | (4,480) | (2,105) | ||
MSRs | Securities gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
MSRs | Interest and fee income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
MSRs | Noninterest income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Derivative Instrument Asset, Net [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair Value Asset Measured On Recurring Basis Gain Loss Included In Mortgage banking income loss | (4,912) | 1,780 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Securities Gains Losses | 0 | 0 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Interest and fee income | 0 | 0 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Noninterest income | 0 | 0 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Earnings | 4,912 | (1,780) | ||
Municipal securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair Value Asset Measured On Recurring Basis Gain Loss Included In Mortgage banking income loss | 0 | 0 | ||
Asset, gain (loss) included in earnings | 0 | 0 | 0 | |
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Securities Gains Losses | 0 | 0 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Interest and fee income | 0 | 0 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Noninterest income | 0 | 0 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Earnings | 0 | 0 | ||
Municipal securities | Mortgage banking income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Municipal securities | Securities gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Municipal securities | Interest and fee income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Municipal securities | Noninterest income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Private label CMO | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair Value Asset Measured On Recurring Basis Gain Loss Included In Mortgage banking income loss | 0 | 0 | ||
Asset, gain (loss) included in earnings | 11 | 0 | 27 | |
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Securities Gains Losses | 0 | 0 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Interest and fee income | 0 | 11 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Noninterest income | 0 | 0 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Earnings | 0 | 11 | ||
Private label CMO | Mortgage banking income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Private label CMO | Securities gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Private label CMO | Interest and fee income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 27 | ||
Private label CMO | Noninterest income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Asset-backed Securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair Value Asset Measured On Recurring Basis Gain Loss Included In Mortgage banking income loss | 0 | 0 | ||
Asset, gain (loss) included in earnings | 2 | 6 | 2 | 6 |
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Securities Gains Losses | 0 | 0 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Interest and fee income | 0 | 6 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Noninterest income | 2 | 0 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Earnings | 2 | 6 | ||
Asset-backed Securities | Mortgage banking income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Asset-backed Securities | Securities gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Asset-backed Securities | Interest and fee income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 6 | ||
Asset-backed Securities | Noninterest income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 2 | 0 | ||
Automobile Loan | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair Value Asset Measured On Recurring Basis Gain Loss Included In Mortgage banking income loss | 0 | 0 | ||
Asset, gain (loss) included in earnings | 0 | (213) | 0 | (426) |
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Securities Gains Losses | 0 | 0 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Interest and fee income | 0 | (213) | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Noninterest income | 0 | 0 | ||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Earnings | $ 0 | $ (213) | ||
Automobile Loan | Mortgage banking income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Automobile Loan | Securities gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | 0 | ||
Automobile Loan | Interest and fee income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | 0 | (426) | ||
Automobile Loan | Noninterest income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Asset, gain (loss) included in earnings | $ 0 | $ 0 |
FAIR VALUES OF ASSETS AND LIABILITIES - Fair Value Option (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for investment, fair value carrying amount | $ 36,978 | $ 32,889 |
Loans held for sale | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for sale, fair value carrying amount | 614,626 | 337,577 |
Loans held for sale, aggregate unpaid principal | 582,986 | 326,802 |
Difference | 31,640 | 10,775 |
Loans held for investment | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for investment, fair value carrying amount | 36,978 | 32,889 |
Loans held for investment, aggregate unpaid principal | 37,694 | 33,637 |
Difference | (716) | (748) |
Automobile loans | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Automobile loans | 925 | 1,748 |
Automobile loans, aggregate unpaid principal | 925 | 1,748 |
Difference | $ 0 | $ 0 |
FAIR VALUES OF ASSETS AND LIABILITIES - Fair Value Option-Changs in Fair Value (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Loans held for sale | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Net gains (losses) from fair value changes | $ 8,870 | $ (6,559) | $ 13,519 | $ (5,557) |
Automobile loans | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Net gains (losses) from fair value changes | 0 | (213) | 0 | (426) |
Gains (losses) included in fair value changes associated with instrument specific credit risk | $ 97 | $ 5 | $ 187 | $ 70 |
FAIR VALUES OF ASSETS AND LIABILITIES - Non-Recurring Basis (Details) - USD ($) $ in Thousands |
3 Months Ended | |
---|---|---|
Jun. 30, 2016 |
Dec. 31, 2015 |
|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | $ 7,929,820 | $ 7,041,364 |
Held-to-maturity securities | 5,658,565 | 6,159,590 |
Assets measured at fair value on a nonrecurring basis | ||
Net loans and direct financing leases | 51,920,357 | 49,743,256 |
Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 7,987,748 | 7,043,014 |
Held-to-maturity securities | 5,786,224 | 6,135,458 |
Assets measured at fair value on a nonrecurring basis | ||
Net loans and direct financing leases | 50,790,280 | 48,024,998 |
Level 1 | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 0 | 0 |
Held-to-maturity securities | 0 | 0 |
Assets measured at fair value on a nonrecurring basis | ||
Net loans and direct financing leases | 0 | 0 |
Level 2 | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 0 | 0 |
Held-to-maturity securities | 5,786,224 | 6,135,458 |
Assets measured at fair value on a nonrecurring basis | ||
Net loans and direct financing leases | 0 | 0 |
Level 3 | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 7,987,748 | 7,043,014 |
Held-to-maturity securities | 0 | 0 |
Assets measured at fair value on a nonrecurring basis | ||
Net loans and direct financing leases | 50,790,280 | 48,024,998 |
Nonrecurring Basis | ||
Assets measured at fair value on a nonrecurring basis | ||
Impaired loans | $ 62,029 | |
Nonrecurring Basis | Fair Value | ||
Assets measured at fair value on a nonrecurring basis | ||
MSRs | (120,091) | |
Impaired loans | 43,202 | |
Other real estate owned | (28,901) | |
Nonrecurring Basis | Total Gains/(Losses) | ||
Assets measured at fair value on a nonrecurring basis | ||
MSRs | (23,636) | |
Impaired loans | 5,822 | |
Other real estate owned | (1,220) | |
Nonrecurring Basis | Level 1 | Fair Value | ||
Assets measured at fair value on a nonrecurring basis | ||
MSRs | 0 | |
Impaired loans | 0 | |
Other real estate owned | 0 | |
Nonrecurring Basis | Level 2 | Fair Value | ||
Assets measured at fair value on a nonrecurring basis | ||
MSRs | 0 | |
Impaired loans | 0 | |
Other real estate owned | 0 | |
Nonrecurring Basis | Level 3 | ||
Assets measured at fair value on a nonrecurring basis | ||
Gain Losses MSRs | (7,296) | |
Gain Losses Impaired Loans | 4,405 | |
Gain Losses Accrued Income And Other Assets | (715) | |
Nonrecurring Basis | Level 3 | Fair Value | ||
Assets measured at fair value on a nonrecurring basis | ||
MSRs | (120,091) | |
Impaired loans | 43,202 | |
Other real estate owned | $ (28,901) |
FAIR VALUES OF ASSETS AND LIABILITIES - Significant Unobservable Level 3 Inputs (Details) - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2016 |
Dec. 31, 2015 |
|
Fair Value Disclosures [Abstract] | ||
Available-for-sale and other securities | $ 9,653,038 | $ 8,775,441 |
Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
MSRs | 13,105 | 17,585 |
Available-for-sale and other securities | 9,319,288 | 8,442,655 |
Automobile loans | 925 | 1,748 |
Fair Value, Measurements, Recurring | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
MSRs | 13,105 | 17,585 |
Gross amounts of recognized assets | 14,935 | 6,721 |
Gross amounts of recognized liabilities | 2,184 | 665 |
Available-for-sale and other securities | 2,309,354 | 2,195,888 |
Automobile loans | 925 | 1,748 |
Fair Value, Measurements, Nonrecurring | ||
Fair Value Disclosures [Abstract] | ||
Impaired loans Fair Value Disclosure | 62,029 | |
Accrued income and other assets Fair Value Disclosure | 27,342 | |
Asset-backed Securities | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Available-for-sale and other securities | 890,573 | 861,413 |
Asset-backed Securities | Fair Value, Measurements, Recurring | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Available-for-sale and other securities | 71,379 | 100,337 |
Municipal securities | ||
Fair Value Disclosures [Abstract] | ||
Available-for-sale and other securities | 2,581,627 | 2,456,396 |
Municipal securities | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Available-for-sale and other securities | 2,581,627 | 2,456,396 |
Municipal securities | Fair Value, Measurements, Recurring | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Available-for-sale and other securities | $ 2,237,975 | $ 2,095,551 |
Cost Approach Valuation Technique | Maximum | MSRs | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Constant prepayment rate | 26.60% | 25.70% |
Spread over forward interest rate swap rates | 0.092 | 0.092 |
Cost Approach Valuation Technique | Maximum | Private label CMO | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Discount rate | 7.80% | 7.20% |
Cumulative default | 56.00% | 50.00% |
Loss given default | 80.00% | 80.00% |
Cost Approach Valuation Technique | Maximum | Asset-backed Securities | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Discount rate | 11.40% | 10.90% |
Cumulative prepayment rate | 100.00% | 100.00% |
Cumulative default | 100.00% | 100.00% |
Loss given default | 100.00% | 100.00% |
Cure given deferral | 75.00% | 75.00% |
Cost Approach Valuation Technique | Maximum | Automobile Loan | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Discount rate | 5.00% | 5.00% |
Cost Approach Valuation Technique | Minimum | MSRs | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Constant prepayment rate | 7.40% | 7.90% |
Spread over forward interest rate swap rates | 0.030 | 0.033 |
Cost Approach Valuation Technique | Minimum | Private label CMO | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Discount rate | 0.60% | 0.30% |
Cumulative default | 0.10% | 0.10% |
Loss given default | 5.00% | 5.00% |
Cost Approach Valuation Technique | Minimum | Asset-backed Securities | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Discount rate | 4.90% | 4.60% |
Cumulative prepayment rate | 0.00% | 0.00% |
Cumulative default | 1.40% | 1.60% |
Loss given default | 85.00% | 85.00% |
Cure given deferral | 0.00% | 0.00% |
Cost Approach Valuation Technique | Minimum | Automobile Loan | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Discount rate | 0.20% | 0.20% |
Cost Approach Valuation Technique | Weighted Average | MSRs | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Constant prepayment rate | 12.70% | 14.70% |
Spread over forward interest rate swap rates | 0.055 | 0.054 |
Cost Approach Valuation Technique | Weighted Average | Private label CMO | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Discount rate | 3.60% | 3.10% |
Cumulative default | 2.70% | 2.10% |
Loss given default | 19.90% | 20.50% |
Cost Approach Valuation Technique | Weighted Average | Asset-backed Securities | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Discount rate | 6.30% | 6.20% |
Cumulative prepayment rate | 8.50% | 9.60% |
Cumulative default | 11.50% | 11.10% |
Loss given default | 96.70% | 96.60% |
Cure given deferral | 35.90% | 36.80% |
Cost Approach Valuation Technique | Weighted Average | Automobile Loan | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Constant prepayment rate | 154.20% | 154.20% |
Discount rate | 2.30% | 2.30% |
Life of pool cumulative losses | 2.10% | 2.10% |
Market Approach Valuation Technique | Maximum | Derivative Instruments [Member] | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Net market price | 23.40% | 20.90% |
Estimated Pull through % | 99.80% | 99.80% |
Market Approach Valuation Technique | Minimum | Derivative Instruments [Member] | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Net market price | (2.00%) | (3.20%) |
Estimated Pull through % | 10.20% | 11.90% |
Market Approach Valuation Technique | Weighted Average | Derivative Instruments [Member] | Level 3 | ||
Fair Value Disclosures [Abstract] | ||
Net market price | 2.90% | 1.90% |
Estimated Pull through % | 79.10% | 76.70% |
FAIR VALUES OF ASSETS AND LIABILITIES - Balance Sheet Location (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
||
---|---|---|---|---|
Financial Assets: | ||||
Trading account securities | $ 35,289 | $ 36,997 | ||
Loans held for sale | [1] | 786,993 | 474,621 | |
Available-for-sale and other securities | 9,653,038 | 8,775,441 | ||
Held-to-maturity securities, Total | 5,658,565 | 6,159,590 | ||
Net loans and direct financing leases | 51,920,357 | 49,743,256 | ||
Financial Liabilities: | ||||
Deposits | 55,043,465 | 55,294,979 | ||
Short-term borrowings | 1,956,745 | 615,279 | ||
Long-term borrowings | 7,929,820 | 7,041,364 | ||
Carrying Amount | ||||
Financial Assets: | ||||
Cash and short-term assets | 912,076 | 898,994 | ||
Trading account securities | 35,289 | 36,997 | ||
Loans held for sale | 786,993 | 474,621 | ||
Available-for-sale and other securities | 9,653,038 | 8,775,441 | ||
Held-to-maturity securities, Total | 5,658,565 | 6,159,590 | ||
Net loans and direct financing leases | 51,920,357 | 49,743,256 | ||
Derivatives | 366,007 | 274,872 | ||
Financial Liabilities: | ||||
Deposits | 55,043,465 | 55,294,979 | ||
Short-term borrowings | 1,956,745 | 615,279 | ||
Long-term borrowings | 7,929,820 | 7,067,614 | ||
Derivatives | 85,949 | 144,350 | ||
Fair Value | ||||
Financial Assets: | ||||
Cash and short-term assets | 912,076 | 898,994 | ||
Trading account securities | 35,289 | 36,997 | ||
Loans held for sale | 789,608 | 484,511 | ||
Available-for-sale and other securities | 9,653,038 | 8,775,441 | ||
Held-to-maturity securities, Total | 5,786,224 | 6,135,458 | ||
Net loans and direct financing leases | 50,790,280 | 48,024,998 | ||
Derivatives | 366,007 | 274,872 | ||
Financial Liabilities: | ||||
Deposits | 55,205,650 | 55,299,435 | ||
Short-term borrowings | 1,956,745 | 615,279 | ||
Long-term borrowings | 7,987,748 | 7,043,014 | ||
Derivatives | 85,949 | 144,350 | ||
Fair Value | Level 1 | ||||
Financial Assets: | ||||
Held-to-maturity securities, Total | 0 | 0 | ||
Net loans and direct financing leases | 0 | 0 | ||
Financial Liabilities: | ||||
Deposits | 0 | 0 | ||
Short-term borrowings | 0 | 0 | ||
Long-term borrowings | 0 | 0 | ||
Fair Value | Level 2 | ||||
Financial Assets: | ||||
Held-to-maturity securities, Total | 5,786,224 | 6,135,458 | ||
Net loans and direct financing leases | 0 | 0 | ||
Financial Liabilities: | ||||
Deposits | 52,421,808 | 51,869,105 | ||
Short-term borrowings | 907 | 1,770 | ||
Long-term borrowings | 0 | 0 | ||
Fair Value | Level 3 | ||||
Financial Assets: | ||||
Held-to-maturity securities, Total | 0 | 0 | ||
Net loans and direct financing leases | 50,790,280 | 48,024,998 | ||
Financial Liabilities: | ||||
Deposits | 2,783,842 | 3,430,330 | ||
Short-term borrowings | 1,955,838 | 613,509 | ||
Long-term borrowings | $ 7,987,748 | $ 7,043,014 | ||
|
DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2016
USD ($)
|
Jun. 30, 2015
USD ($)
|
Jun. 30, 2016
USD ($)
group
|
Jun. 30, 2015
USD ($)
|
Dec. 31, 2015
USD ($)
|
|
Derivative [Line Items] | |||||
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | $ 6,000 | $ 6,000 | |||
Derivative Financial Instruments (Textuals) [Abstract] | |||||
Purchase of interest rate caps and derivative financial instruments, notional value | 11,525,000 | 11,525,000 | $ 500,000 | ||
Total notional amount corresponds to trading assets, fair value | 12,000 | 12,000 | |||
Notional amount corresponds to trading liabilities, fair value (less than) | 0 | 0 | |||
Credit risks from interest rate swaps used for trading purposes | 349,000 | $ 349,000 | 224,000 | ||
Additional Derivative Financial Instruments (Textuals) [Abstract] | |||||
Number of primary groups | group | 2 | ||||
Aggregate credit risk, net of collateral | 28,000 | $ 28,000 | 15,000 | ||
Investment securities and cash collateral pledged by Huntington | 138,000 | 138,000 | |||
Investment securities and cash collateral pledged to Huntington | 111,000 | 111,000 | |||
Increase (decrease) to net interest income due to derivative adjustment | 19,000 | $ 26,000 | 40,000 | $ 51,000 | |
Derivative used in trading activity | |||||
Derivative Financial Instruments (Textuals) [Abstract] | |||||
Net derivative asset (liability) | 72,000 | 72,000 | 76,000 | ||
Derivative financial instruments used by Huntington on behalf of customers including offsetting derivatives, notional value | 15,000,000 | 15,000,000 | 14,600,000 | ||
Derivative used in Mortgage Banking Activities | |||||
Derivative Financial Instruments (Textuals) [Abstract] | |||||
Net derivative asset (liability) | 6,858 | 6,858 | 7,730 | ||
Purchase of interest rate caps and derivative financial instruments, notional value | 200,000 | 200,000 | |||
Gains (losses) related to derivative instruments Included in total MSR | 6,000 | $ (9,000) | 18,000 | $ (4,000) | |
Total derivative liabilities | 8,924 | 8,924 | 1,459 | ||
Other Credit Derivatives | |||||
Derivative Financial Instruments (Textuals) [Abstract] | |||||
Derivative Asset, Notional Amount | $ 400,000 | $ 400,000 | $ 344,000 |
DERIVATIVE FINANCIAL INSTRUMENTS - Asset and Liability Management (Details) - USD ($) |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | $ 11,525,000,000 | $ 500,000,000 |
Fair Value Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 6,825,000,000 | |
Cash Flow Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 4,700,000,000 | |
Loan | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 4,700,000,000 | |
Loan | Fair Value Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 0 | |
Loan | Cash Flow Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 4,700,000,000 | |
Deposits | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 0 | |
Deposits | Fair Value Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 0 | |
Deposits | Cash Flow Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 0 | |
Subordinated notes | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 450,000,000 | |
Subordinated notes | Fair Value Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 450,000,000 | |
Subordinated notes | Cash Flow Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 0 | |
Other long-term debt | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 6,375,000,000 | |
Other long-term debt | Fair Value Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | 6,375,000,000 | |
Other long-term debt | Cash Flow Hedging | ||
Notional Disclosures [Abstract] | ||
Derivative, Notional Amount | $ 0 |
DERIVATIVE FINANCIAL INSTRUMENTS - Asset and Liability Managemen Add Info (Details Add Info) - USD ($) |
6 Months Ended | |
---|---|---|
Jun. 30, 2016 |
Dec. 31, 2015 |
|
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 11,525,000,000 | $ 500,000,000 |
Additional information about the interest rate swaps used in companies Asset and Liability Management | ||
Notional Amount Of Interest Rate Derivatives | $ 11,525,000,000 | |
Average Maturity (years) | 1 year 10 months 24 days | |
Fair Value | $ 171,434,000 | |
Weighted-Average Rate Receive | 1.28% | |
Weighted-Average Rate Pay | 0.64% | |
Asset conversion swaps - Receive Fixed - Generic | ||
Additional information about the interest rate swaps used in companies Asset and Liability Management | ||
Notional Amount Of Interest Rate Derivatives | $ 4,700,000,000 | |
Average Maturity (years) | 9 months 18 days | |
Fair Value | $ 12,655,000 | |
Weighted-Average Rate Receive | 0.96% | |
Weighted-Average Rate Pay | 0.62% | |
Liability conversion swaps - Receive Fixed - Generic | ||
Additional information about the interest rate swaps used in companies Asset and Liability Management | ||
Notional Amount Of Interest Rate Derivatives | $ 6,825,000,000 | |
Average Maturity (years) | 2 years 7 months 6 days | |
Fair Value | $ 158,779,000 | |
Weighted-Average Rate Receive | 1.50% | |
Weighted-Average Rate Pay | 0.65% | |
Fair Value Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 6,825,000,000 | |
Cash Flow Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 4,700,000,000 | |
Loan | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 4,700,000,000 | |
Loan | Fair Value Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 0 | |
Loan | Cash Flow Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 4,700,000,000 | |
Deposits | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 0 | |
Deposits | Fair Value Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 0 | |
Deposits | Cash Flow Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 0 | |
Subordinated notes | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 450,000,000 | |
Subordinated notes | Fair Value Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 450,000,000 | |
Subordinated notes | Cash Flow Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 0 | |
Other long term debt | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 6,375,000,000 | |
Other long term debt | Fair Value Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 6,375,000,000 | |
Other long term debt | Cash Flow Hedging | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 0 |
DERIVATIVE FINANCIAL INSTRUMENTS - Hedging Instruments (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Accrued income and other assets | ||
Asset derivatives included in accrued income and other assets | ||
Interest rate contracts designated as hedging instruments | $ 171,479 | $ 80,513 |
Interest rate contracts not designated as hedging instruments | 329,462 | 190,846 |
Foreign exchange contracts not designated as hedging instruments | 197 | 37,727 |
Commodities contracts not designated as hedging instruments | 71,852 | 117,894 |
Total contracts | 572,990 | 426,980 |
Accrued expenses and other liabilities | ||
Liability derivatives included in accrued expenses and other liabilities | ||
Interest rate contracts designated as hedging instruments | 45 | 15,215 |
Interest rate contracts not designated as hedging instruments | 248,886 | 121,815 |
Foreign exchange contracts not designated as hedging instruments | 155 | 35,283 |
Commodities contracts not designated as hedging instruments | 67,849 | 114,887 |
Total contracts | $ 316,935 | $ 287,200 |
DERIVATIVE FINANCIAL INSTRUMENTS - Cash Flow Hedges (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Cash Flow Hedging | ||||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | ||||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | $ 1,293 | $ (539) | $ 10,542 | $ 17,756 |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | 248 | 138 | 892 | 261 |
Hedged Other long term debt | Interest expense subordinated notes and other long term debt | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | (21,047) | 7,382 | (80,834) | (12,263) |
Hedged Subordinated notes | Interest expense subordinated notes and other long term debt | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | (4) | 7,362 | (6,809) | 4,131 |
Hedged Deposits | Interest expense deposits | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | 0 | 236 | 72 | 450 |
Loans | Interest and fee income loans and leases | Cash Flow Hedging | ||||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | ||||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | 1,293 | (539) | 10,542 | 17,756 |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | 248 | 118 | 893 | 250 |
Investment securities | Interest and fee income investment securities | Cash Flow Hedging | ||||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | ||||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | 0 | 0 | 0 | |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | 0 | 20 | (1) | 11 |
Deposits | Interest expense deposits | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | 0 | (245) | (82) | (458) |
Subordinated notes | Interest expense subordinated notes and other long term debt | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | 4 | (7,362) | 6,809 | (4,131) |
Other long-term debt | Interest expense subordinated notes and other long term debt | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | ||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | $ 22,017 | $ (8,129) | $ 83,049 | $ 11,896 |
DERIVATIVE FINANCIAL INSTRUMENTS - Fair Value Hedges (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Loan | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as cash flow hedges | $ 421 | $ 133 | $ 377 | $ (30) |
DERIVATIVE FINANCIAL INSTRUMENTS - Mortgage Banking Activities (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Derivative used in Mortgage Banking Activities | ||
Derivative assets: | ||
Total derivative assets | $ 15,782 | $ 9,189 |
Derivative liabilities: | ||
Total derivative liabilities | (8,924) | (1,459) |
Net derivative asset (liability) | 6,858 | 7,730 |
Interest rate lock agreements | ||
Derivative assets: | ||
Total derivative assets | 14,935 | 6,721 |
Derivative liabilities: | ||
Total derivative liabilities | (102) | (220) |
Forward trades and options | ||
Derivative assets: | ||
Total derivative assets | 847 | 2,468 |
Derivative liabilities: | ||
Total derivative liabilities | $ (8,822) | $ (1,239) |
DERIVATIVE FINANCIAL INSTRUMENTS DERIVATIVE FINANCIAL INSTRUMENTS - Credit Derivatives (Details) - USD ($) $ in Millions |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Credit Derivatives [Line Items] | ||
Credit Risk Derivative Assets, at Fair Value | $ 11 | $ 6 |
Other Credit Derivatives | ||
Credit Derivatives [Line Items] | ||
Derivative Asset, Notional Amount | $ 400 | $ 344 |
DERIVATIVE FINANCIAL INSTRUMENTS - Offsetting Assets (Details) - Derivative Contract - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Offsetting Derivative Assets [Abstract] | ||
Gross amounts of recognized assets | $ 588,772 | $ 436,169 |
Gross amounts offset in the condensed consolidated balance sheets | 222,765 | 161,297 |
Net amounts of assets presented in the condensed consolidated balance sheets | 366,007 | 274,872 |
Gross amounts not offset in the condensed consolidated balance sheets, Financial instruments | (48,950) | (39,305) |
Gross amounts not offset in the condensed consolidated balance sheets, cash collateral received | (3,159) | (3,462) |
Net amount | $ 313,898 | $ 232,105 |
DERIVATIVE FINANCIAL INSTRUMENTS - Offsetting Liabilities (Details) - Derivative Contract - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts of recognized liabilities | $ 325,859 | $ 288,659 |
Gross amounts offset in the condensed consolidated balance sheets | (239,910) | (144,309) |
Derivative liabilities | 85,949 | 144,350 |
Gross amounts not offset in the condensed consolidated balance sheets, Financial instruments | (57,320) | (62,460) |
Gross amounts not offset in the condensed consolidated balance sheets, Cash collateral received | (4,885) | (20) |
Net amount | $ 23,744 | $ 81,870 |
VIEs - Narrative (Details) $ in Billions |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2015
USD ($)
|
Dec. 31, 2012
USD ($)
|
Mar. 31, 2012
USD ($)
|
Sep. 30, 2011
USD ($)
|
Jun. 30, 2015
trust
|
|
Variable Interest Entity [Line Items] | |||||
Number of securitization trusts acquired | trust | 2 | ||||
Total of automobile loans transferred in securitization transactions | $ | $ 0.8 | $ 1.0 | $ 1.3 | $ 1.0 |
VIEs - Consolidated (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
||
---|---|---|---|---|---|---|---|---|
Assets | ||||||||
Cash | $ 867,180 | $ 847,156 | ||||||
Loans and leases | [1] | 52,543,421 | 50,341,099 | |||||
Allowance for loan and lease losses | (623,064) | $ (613,719) | (597,843) | $ (599,542) | $ (605,126) | $ (605,196) | ||
Net loans and leases | 51,920,357 | 49,743,256 | ||||||
Accrued income and other assets | 1,729,427 | 1,630,110 | ||||||
Total assets | 73,954,017 | 71,018,301 | ||||||
Liabilities | ||||||||
Long-term borrowings | 7,929,820 | 7,041,364 | ||||||
Accrued interest and other liabilities | 1,516,683 | 1,472,073 | ||||||
Total liabilities | 66,446,713 | 64,423,695 | ||||||
Equity | ||||||||
Total liabilities and shareholders’ equity | 73,954,017 | 71,018,301 | ||||||
Macquarie Equipment Funding Trust Series 2012A | ||||||||
Assets | ||||||||
Cash | 1,377 | |||||||
Loans and leases | 32,180 | |||||||
Allowance for loan and lease losses | 0 | |||||||
Net loans and leases | 32,180 | |||||||
Accrued income and other assets | 0 | |||||||
Total assets | 33,557 | |||||||
Liabilities | ||||||||
Long-term borrowings | 27,153 | |||||||
Accrued interest and other liabilities | 0 | |||||||
Total liabilities | 27,153 | |||||||
Equity | ||||||||
Beneficial interest owned by third party | 6,404 | |||||||
Total liabilities and shareholders’ equity | 33,557 | |||||||
Huntington Technology Funding Trust Series 2014A | ||||||||
Assets | ||||||||
Cash | 1,561 | 1,561 | ||||||
Loans and leases | 105,810 | 152,331 | ||||||
Allowance for loan and lease losses | 0 | 0 | ||||||
Net loans and leases | 105,810 | 152,331 | ||||||
Accrued income and other assets | 0 | 0 | ||||||
Total assets | 107,371 | 153,892 | ||||||
Liabilities | ||||||||
Long-term borrowings | 86,315 | 123,577 | ||||||
Accrued interest and other liabilities | 0 | 0 | ||||||
Total liabilities | 86,315 | 123,577 | ||||||
Equity | ||||||||
Beneficial interest owned by third party | 21,056 | 30,315 | ||||||
Total liabilities and shareholders’ equity | 107,371 | 153,892 | ||||||
Franklin 2009 Trust | ||||||||
Assets | ||||||||
Cash | 0 | 0 | ||||||
Loans and leases | 0 | 0 | ||||||
Allowance for loan and lease losses | 0 | 0 | ||||||
Net loans and leases | 0 | 0 | ||||||
Accrued income and other assets | 219 | 229 | ||||||
Total assets | 219 | 229 | ||||||
Liabilities | ||||||||
Long-term borrowings | 0 | 0 | ||||||
Accrued interest and other liabilities | 219 | 229 | ||||||
Total liabilities | 219 | 229 | ||||||
Equity | ||||||||
Beneficial interest owned by third party | 0 | 0 | ||||||
Total liabilities and shareholders’ equity | 219 | 229 | ||||||
Consolidated Trusts | ||||||||
Assets | ||||||||
Cash | 1,561 | 2,938 | ||||||
Loans and leases | 105,810 | 184,511 | ||||||
Allowance for loan and lease losses | 0 | 0 | ||||||
Net loans and leases | 105,810 | 184,511 | ||||||
Accrued income and other assets | 219 | 229 | ||||||
Total assets | 107,590 | 187,678 | ||||||
Liabilities | ||||||||
Long-term borrowings | 86,315 | 150,730 | ||||||
Accrued interest and other liabilities | 219 | 229 | ||||||
Total liabilities | 86,534 | 150,959 | ||||||
Equity | ||||||||
Beneficial interest owned by third party | 21,056 | 36,719 | ||||||
Total liabilities and shareholders’ equity | $ 107,590 | $ 187,678 | ||||||
|
VIEs - Unconsolidated VIEs (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
2015-1 Automobile Trust | ||
Variable Interest Entity [Line Items] | ||
Total Assets | $ 5,203 | $ 7,695 |
Total Liabilities | 0 | 0 |
Maximum Exposure to Loss | 5,203 | 7,695 |
2012-1 Automobile Trust | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 94 | |
Total Liabilities | 0 | |
Maximum Exposure to Loss | 94 | |
2012-2 Automobile Trust | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 147 | 771 |
Total Liabilities | 0 | 0 |
Maximum Exposure to Loss | 147 | 771 |
Trust Preferred Securities | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 13,919 | 13,919 |
Total Liabilities | 317,122 | 317,106 |
Maximum Exposure to Loss | 0 | 0 |
Low Income Housing Tax Credit Partnerships | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 452,526 | 425,500 |
Total Liabilities | 210,297 | 196,001 |
Maximum Exposure to Loss | 452,526 | 425,500 |
Other Investments | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 62,564 | 68,746 |
Total Liabilities | 24,586 | 25,762 |
Maximum Exposure to Loss | 62,564 | 68,746 |
Total | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 534,359 | 516,725 |
Total Liabilities | 552,005 | 538,869 |
Maximum Exposure to Loss | $ 520,440 | $ 502,806 |
VIEs - Trust preferred Securities (Details) $ in Thousands |
3 Months Ended |
---|---|
Jun. 30, 2016
USD ($)
| |
Summary of Outstanding Trust Preferred Securities | |
Principal amount of subordinated note/ debenture issued to trust | $ 317,122 |
Investment in unconsolidated subsidiary | $ 13,919 |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Maximum year to defer payment of interest on Debenture | 5 years |
Huntington Capital I | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 1.34% |
Principal amount of subordinated note/ debenture issued to trust | $ 111,816 |
Investment in unconsolidated subsidiary | $ 6,186 |
Huntington Capital I | Three-Month LIBOR | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 0.70% |
Huntington Capital II | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 1.28% |
Principal amount of subordinated note/ debenture issued to trust | $ 54,593 |
Investment in unconsolidated subsidiary | $ 3,093 |
Huntington Capital II | Three-Month LIBOR | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 0.625% |
Sky Financial Capital Trust III | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 2.03% |
Principal amount of subordinated note/ debenture issued to trust | $ 72,165 |
Investment in unconsolidated subsidiary | $ 2,165 |
Sky Financial Capital Trust III | Three-Month LIBOR | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 1.40% |
Sky Financial Capital Trust IV | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 2.03% |
Principal amount of subordinated note/ debenture issued to trust | $ 74,320 |
Investment in unconsolidated subsidiary | $ 2,320 |
Camco Financial Trust | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 3.09% |
Principal amount of subordinated note/ debenture issued to trust | $ 4,228 |
Investment in unconsolidated subsidiary | $ 155 |
Camco Financial Trust | Three-Month LIBOR | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 1.33% |
VIEs - Low Income Housing Tax Credit Partnership (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Dec. 31, 2015 |
|
Low Income Housing Tax Credit Partnerships | |||||
Variable Interest Entity [Line Items] | |||||
Affordable housing tax credit investments | $ 725,193 | $ 725,193 | $ 674,157 | ||
Less: amortization | (272,667) | (272,667) | (248,657) | ||
Net affordable housing tax credit investments | 452,526 | 452,526 | 425,500 | ||
Unfunded commitments | 210,297 | 210,297 | $ 196,001 | ||
Tax credits and other tax benefits recognized | 18,150 | $ 14,434 | 36,434 | $ 30,181 | |
Proportional Amortization Method | |||||
Variable Interest Entity [Line Items] | |||||
Tax credit amortization expense included in provision for income taxes | 12,499 | 11,218 | 24,905 | 22,292 | |
Equity Method | |||||
Variable Interest Entity [Line Items] | |||||
Tax credit investment (gains) losses included in non-interest income | $ 132 | $ 147 | $ 264 | $ 294 |
COMMITMENTS AND CONTINGENT LIABILITIES - Commitments to Extend Credit (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Commercial | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Contract amount represents credit risk | $ 11,629,835 | $ 11,448,927 |
Consumer | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Contract amount represents credit risk | 9,088,181 | 8,574,093 |
Commercial Real Estate | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Contract amount represents credit risk | 887,138 | 813,271 |
Standby Letters of Credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Contract amount represents credit risk | 478,333 | 511,706 |
Commercial letters-of-credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Contract amount represents credit risk | $ 29,776 | $ 56,119 |
COMMITMENTS AND CONTINGENT LIABILITIES - Narrative (Details) |
2 Months Ended | 3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|---|
Jan. 17, 2012
county
|
Mar. 31, 2016
lawsuit
complaint
|
Sep. 30, 2015
USD ($)
|
Jun. 30, 2016
USD ($)
lawsuit
|
Dec. 31, 2015
USD ($)
|
Sep. 28, 2015
USD ($)
|
Mar. 30, 2012
USD ($)
|
|
Loss Contingencies [Line Items] | |||||||
Maturity period of majority of standby letters of credit | P2Y | ||||||
Maturity period of Commercial letters of credit | P90D | ||||||
Maturity period of forward contracts relating mortgage banking business | 1 year | ||||||
Cyberco Litigation | |||||||
Loss Contingencies [Line Items] | |||||||
Number of lawsuits | lawsuit | 2 | ||||||
Fraudulent transfers alleged by Teleservices bankruptcy trustee | $ 73,000,000 | ||||||
Bankruptcy Court recommended judgment amount in Cyberco case, principal | $ 72,000,000 | ||||||
Loss contingency period increase (decrease) | $ 38,000,000 | ||||||
MERSCORP Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Number of counties | county | 88 | ||||||
FirstMerit Merger Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Number of lawsuits | lawsuit | 5 | ||||||
Number of complaints | complaint | 1 | ||||||
Standby Letters of Credit | |||||||
Loss Contingencies [Line Items] | |||||||
Carrying amount of deferred revenue associated with guarantees | $ 8,000,000 | $ 7,000,000 | |||||
Outstanding standby letters of credit | $ 478,333,000 | 511,706,000 | |||||
Percentage of Outstanding standby letters of credit collateralized | 82.00% | ||||||
Commercial letters-of-credit | |||||||
Loss Contingencies [Line Items] | |||||||
Outstanding standby letters of credit | $ 29,776,000 | 56,119,000 | |||||
Commitments to Sell Loans | |||||||
Loss Contingencies [Line Items] | |||||||
Commitments to sell residential real estate loans | 1,112,000,000 | $ 659,000,000 | |||||
Risk Level, Low | |||||||
Loss Contingencies [Line Items] | |||||||
Outstanding standby letters of credit | 156,000,000 | ||||||
Risk Level, High | |||||||
Loss Contingencies [Line Items] | |||||||
Outstanding standby letters of credit | 0 | ||||||
Risk Level, Medium | |||||||
Loss Contingencies [Line Items] | |||||||
Outstanding standby letters of credit | 323,000,000 | ||||||
Maximum | |||||||
Loss Contingencies [Line Items] | |||||||
Aggregate range of reasonably possible losses current legal proceedings | 50,000,000 | ||||||
Minimum | |||||||
Loss Contingencies [Line Items] | |||||||
Aggregate range of reasonably possible losses current legal proceedings | $ 0 |
SEGMENT REPORTING (Details) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2016
USD ($)
reporting_unit
banking_market
|
Jun. 30, 2015
USD ($)
|
Jun. 30, 2016
USD ($)
business
segments
|
Jun. 30, 2015
USD ($)
|
Dec. 31, 2015
USD ($)
|
|
Segment Reporting Information [Line Items] | |||||
Number of reporting segments | segments | 5 | ||||
Maximum business banking customer's revenue | $ 20,000 | ||||
Number of business banking businesses | business | 165,000 | ||||
Net interest income | $ 505,881 | $ 490,686 | $ 1,008,947 | $ 958,371 | |
Provision (reduction in allowance) for credit losses | (24,509) | (20,419) | (52,091) | (41,010) | |
Noninterest income | 271,112 | 281,773 | 512,979 | 513,396 | |
Noninterest expense | 523,661 | 491,777 | 1,014,741 | 950,634 | |
Income taxes | 54,283 | 64,057 | 109,240 | 118,063 | |
Net income | 174,540 | 196,206 | 345,854 | 362,060 | |
Assets | 73,954,017 | 73,954,017 | $ 71,018,301 | ||
Deposits | 55,043,465 | 55,043,465 | 55,294,979 | ||
Retail & Business Banking | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 270,745 | 256,921 | |||
Provision (reduction in allowance) for credit losses | (21,549) | (19,401) | |||
Noninterest income | 128,903 | 112,938 | |||
Noninterest expense | 279,286 | 260,487 | |||
Income taxes | 34,585 | 31,490 | |||
Net income | 64,228 | 58,481 | |||
Commercial Banking | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 94,397 | ||||
Provision (reduction in allowance) for credit losses | 3,027 | ||||
Noninterest income | 70,361 | ||||
Noninterest expense | 76,373 | ||||
Income taxes | 31,994 | ||||
Net income | 59,418 | ||||
AFCRE | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 95,042 | ||||
Provision (reduction in allowance) for credit losses | (3,498) | ||||
Noninterest income | 11,574 | ||||
Noninterest expense | 37,855 | ||||
Income taxes | 22,842 | ||||
Net income | 42,421 | ||||
RBPCG | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 27,751 | ||||
Provision (reduction in allowance) for credit losses | (1,596) | ||||
Noninterest income | 37,964 | ||||
Noninterest expense | 63,221 | ||||
Income taxes | 314 | ||||
Net income | 584 | ||||
Home Lending | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 16,353 | ||||
Provision (reduction in allowance) for credit losses | 1,049 | ||||
Noninterest income | 31,976 | ||||
Noninterest expense | 41,639 | ||||
Income taxes | 2,709 | ||||
Net income | 5,030 | ||||
Operating Segments | Retail & Business Banking | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 535,433 | 505,571 | |||
Provision (reduction in allowance) for credit losses | (33,745) | (26,553) | |||
Noninterest income | 246,462 | 208,696 | |||
Noninterest expense | 552,530 | 516,851 | |||
Income taxes | 68,467 | 59,802 | |||
Net income | 127,153 | 111,061 | |||
Assets | 15,977,841 | 15,977,841 | 15,746,086 | ||
Deposits | $ 31,095,956 | 31,095,956 | 30,875,607 | ||
Operating Segments | Commercial Banking | |||||
Segment Reporting Information [Line Items] | |||||
Number of reporting units | reporting_unit | 7 | ||||
Net interest income | $ 101,760 | 202,623 | 169,315 | ||
Provision (reduction in allowance) for credit losses | 5,194 | (29,562) | (3,808) | ||
Noninterest income | 64,918 | 123,499 | 125,254 | ||
Noninterest expense | 92,121 | 182,549 | 132,790 | ||
Income taxes | 27,913 | 39,904 | 55,290 | ||
Net income | 51,838 | 74,107 | 102,681 | ||
Assets | 17,947,824 | 17,947,824 | 17,022,387 | ||
Deposits | 10,353,358 | 10,353,358 | 11,424,778 | ||
Operating Segments | AFCRE | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 95,602 | 191,171 | 190,204 | ||
Provision (reduction in allowance) for credit losses | (9,726) | 6,891 | (2,115) | ||
Noninterest income | 10,589 | 17,840 | 16,249 | ||
Noninterest expense | 42,331 | 82,534 | 74,033 | ||
Income taxes | 18,947 | 46,679 | 45,607 | ||
Net income | 35,187 | 86,689 | 84,698 | ||
Assets | 20,942,630 | 20,942,630 | 17,856,368 | ||
Deposits | $ 1,692,868 | 1,692,868 | 1,651,702 | ||
Operating Segments | RBPCG | |||||
Segment Reporting Information [Line Items] | |||||
Number of regional banking markets | banking_market | 11 | ||||
Net interest income | $ 40,502 | 79,781 | 54,575 | ||
Provision (reduction in allowance) for credit losses | 1,021 | 1,500 | (4,240) | ||
Noninterest income | 27,588 | 55,395 | 78,388 | ||
Noninterest expense | 50,863 | 100,860 | 121,849 | ||
Income taxes | 6,387 | 12,536 | 2,406 | ||
Net income | 11,861 | 23,280 | 4,468 | ||
Assets | 4,476,036 | 4,476,036 | 4,291,403 | ||
Deposits | 8,161,115 | 8,161,115 | 7,690,581 | ||
Operating Segments | Home Lending | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 14,417 | 27,433 | 31,630 | ||
Provision (reduction in allowance) for credit losses | 551 | 2,825 | (4,294) | ||
Noninterest income | 22,321 | 33,971 | 50,634 | ||
Noninterest expense | 26,455 | 52,063 | 77,427 | ||
Income taxes | 3,792 | 4,258 | 190 | ||
Net income | 7,042 | 7,908 | 353 | ||
Assets | 3,464,385 | 3,464,385 | 3,080,690 | ||
Deposits | 335,403 | 335,403 | 361,881 | ||
Treasury/ Other | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | (17,145) | 222 | |||
Provision (reduction in allowance) for credit losses | 0 | 0 | 0 | 0 | |
Noninterest income | 16,793 | 16,960 | |||
Noninterest expense | 32,605 | 12,202 | |||
Income taxes | (37,341) | (25,292) | |||
Net income | 4,384 | $ 30,272 | |||
Treasury/ Other | Others [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | (27,494) | 7,076 | |||
Noninterest income | 35,812 | 34,175 | |||
Noninterest expense | 44,205 | 27,684 | |||
Income taxes | (62,604) | (45,232) | |||
Net income | 26,717 | $ 58,799 | |||
Treasury/ Other | Treasury/Other | |||||
Segment Reporting Information [Line Items] | |||||
Assets | 11,145,301 | 11,145,301 | 13,021,367 | ||
Deposits | $ 3,404,765 | $ 3,404,765 | $ 3,290,430 |
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