Loans and Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2011

Receivables [Abstract]

Summary of Gross Loans by Type

Loans, net of unearned income are summarized as follows as of December 31:

	2011			2010
	(in thousands)
Real estate – commercial mortgage	$	4,602,596		$	4,375,980
Commercial – industrial, financial and agricultural	3,639,368			3,704,384
Real estate – home equity	1,624,562			1,641,777
Real estate – residential mortgage	1,097,192			995,990
Real estate – construction	615,445			801,185
Consumer	318,101			350,161
Leasing and other	63,254			61,017
Overdrafts	15,446			10,011
Loans, gross of unearned income	11,975,964			11,940,505
Unearned income	(6,994		)	(7,198		)
Loans, net of unearned income	$	11,968,970		$	11,933,307

Schedule of Allowance for Credit Losses

The following table presents the components of the allowance for credit losses as of December 31:

	2011		2010		2009
	(in thousands)
Allowance for loan losses	$	256,471	$	274,271	$	256,698
Reserve for unfunded lending commitments	1,706		1,227		855
Allowance for credit losses	$	258,177	$	275,498	$	257,553

Activity in the Allowance for Credit Losses

The following table presents the activity in the allowance for credit losses for the years ended December 31:

	2011			2010			2009
	(in thousands)
Balance at beginning of year	$	275,498		$	257,553		$	180,137
Loans charged off	(161,333		)	(151,425		)	(119,074		)
Recoveries of loans previously charged off	9,012			9,370			6,470
Net loans charged off	(152,321		)	(142,055		)	(112,604		)
Provision for credit losses	135,000			160,000			190,020
Balance at end of year	$	258,177		$	275,498		$	257,553

The following table presents activity in the allowance for loan losses, by portfolio segment for the year ended December 31, 2011 and loans, net of unearned income and their related allowance for loan losses, by portfolio segment, as of December 31, 2011:

	Real Estate - Commercial Mortgage			Commercial - Industrial, Financial and Agricultural			Real Estate - Home Equity			Real Estate - Residential Mortgage			Real Estate - Construction			Consumer			Leasing and other and overdrafts			Unallocated (1)			Total
	(in thousands)
Balance at January 1, 2011	$	40,831		$	101,436		$	6,454		$	17,425		$	58,117		$	4,669		$	3,840		$	41,499		$	274,271
Loans charged off	(26,032		)	(52,301		)	(6,397		)	(32,533		)	(38,613		)	(3,289		)	(2,168		)	—			(161,333		)
Recoveries of loans previously charged off	1,967			2,521			63			325			1,746			1,368			1,022			—			9,012
Net loans charged off	(24,065		)	(49,780		)	(6,334		)	(32,208		)	(36,867		)	(1,921		)	(1,146		)	—			(152,321		)
Provision for loan losses (2)	45,463			36,628			9,031			29,873			33,587			2,411			647			(23,119		)	134,521
Impact of change in allowance methodology	22,883			(13,388		)	3,690			7,896			(24,771		)	(3,076		)	(944		)	7,710			—
Provision for loan losses, including impact of change in allowance methodology	68,346			23,240			12,721			37,769			8,816			(665		)	(297		)	(15,409		)	134,521
Balance at December 31, 2011	$	85,112		$	74,896		$	12,841		$	22,986		$	30,066		$	2,083		$	2,397		$	26,090		$	256,471
Allowance for loan losses at December 31, 2011:
Evaluated for impairment under FASB ASC Subtopic 450-20	$	49,052		$	46,471		$	9,765		$	6,691		$	17,610		$	1,855		$	2,360		$	26,090		$	159,894
Evaluated for impairment under FASB ASC Section 310-10-35	36,060			28,425			3,076			16,295			12,456			228			37			N/A			96,577
	$	85,112		$	74,896		$	12,841		$	22,986		$	30,066		$	2,083		$	2,397		$	26,090		$	256,471
Loans, net of unearned income at December 31, 2011:
Evaluated for impairment under FASB ASC Subtopic 450-20	$	4,476,262		$	3,560,487		$	1,619,069		$	1,057,274		$	553,106		$	317,733		$	71,650		N/A			$	11,655,581
Evaluated for impairment under FASB ASC Section 310-10-35	126,334			78,881			5,493			39,918			62,339			368			56			N/A			313,389
	$	4,602,596		$	3,639,368		$	1,624,562		$	1,097,192		$	615,445		$	318,101		$	71,706		N/A			$	11,968,970
Allowance for loan losses at December 31, 2010:
Evaluated for impairment under FASB ASC Subtopic 450-20	$	22,836		$	32,323		$	6,454		$	11,475		$	35,247		$	4,669		$	3,840		$	41,499		$	158,343
Evaluated for impairment under FASB ASC Section 310-10-35	17,995			69,113			—			5,950			22,870			—			—			N/A			115,928
	$	40,831		$	101,436		$	6,454		$	17,425		$	58,117		$	4,669		$	3,840		$	41,499		$	274,271
Loans, net of unearned income at December 31, 2010:
Evaluated for impairment under FASB ASC Subtopic 450-20	$	4,217,660		$	3,469,775		$	1,641,777		$	956,260		$	660,238		$	350,161		$	63,830		N/A			$	11,359,701
Evaluated for impairment under FASB ASC Section 310-10-35	158,320			234,609			—			39,730			140,947			—			—			N/A			573,606
	$	4,375,980		$	3,704,384		$	1,641,777		$	995,990		$	801,185		$	350,161		$	63,830		N/A			$	11,933,307

(1) The Corporation’s unallocated allowance, which was approximately 10% and 15% as of December 31, 2011 and December 31, 2010, respectively, was reasonable and appropriate as the estimates used in the allocation process are inherently imprecise.

(2) Provision for loan losses is net of a $479,000 decrease in provision applied to unfunded commitments for the year ended December 31, 2011. The total provision for credit losses, comprised of allocations for both funded and unfunded loans, was $135.0 million for the year ended December 31, 2011.

N/A – Not applicable.

Schedule Of Non Performing Residential Mortgages

Below is a summary of the transaction (in thousands):

Recorded investment in loans sold	$	34,810
Proceeds from sale, net of selling expenses	17,420
Total charge-off	$	(17,390	)
Existing allocation for credit losses on sold loans	$	(12,360	)

Total Impaired Loans by Class Segment

The following table presents total impaired loans by class segment as of December 31:

							Year ended
	2011						December 31, 2011				2010
	Unpaid Principal Balance		Recorded Investment		Related Allowance		Average Recorded Investment		Interest Income Recognized (1)		Unpaid Principal Balance		Recorded Investment		Related Allowance
	(in thousands)
With no related allowance recorded:
Real estate - commercial mortgage	$	54,445	$	46,768	N/A		$	44,486	$	647	$	68,583	$	54,251	N/A
Commercial - secured	35,529		28,440		N/A		30,829		182		38,366		27,745		N/A
Commercial - unsecured	—		—		N/A		177		3		710		587		N/A
Real estate - home equity	199		199		N/A		80		—		—		—		N/A
Real estate - residential mortgage	—		—		N/A		4,242		43		21,598		21,212		N/A
Construction - commercial residential	62,822		31,233		N/A		24,770		195		69,624		32,354		N/A
Construction - commercial	3,604		3,298		N/A		2,989		22		5,637		2,125		N/A
	156,599		109,938				107,573		1,092		204,518		138,274
With a related allowance recorded:
Real estate - commercial mortgage	100,529		79,566		36,060		79,831		1,270		111,190		104,069		17,995
Commercial - secured	61,970		47,652		26,248		78,380		1,231		202,824		197,674		64,922
Commercial - unsecured	3,139		2,789		2,177		3,864		34		8,681		8,603		4,191
Real estate - home equity	5,294		5,294		3,076		1,952		—		—		—		—
Real estate - residential mortgage	39,918		39,918		16,295		53,610		1,458		18,518		18,518		5,950
Construction - commercial residential	41,176		25,632		11,287		47,529		457		110,465		103,826		22,155
Construction - commercial	3,221		1,049		506		1,090		17		2,642		2,642		715
Construction - other	1,127		1,127		663		1,100		1		—		—		—
Consumer - direct	368		368		228		189		2		—		—		—
Leasing and other and overdrafts	56		56		37		59		—		—		—		—
	256,798		203,451		96,577		267,604		4,470		454,320		435,332		115,928
Total	$	413,397	$	313,389	$	96,577	$	375,177	$	5,562	$	658,838	$	573,606	$	115,928

(1) Effective April 1, 2011, all impaired loans, excluding certain accruing TDRs, were non-accrual loans.

N/A – Not applicable.

Financing Receivable Credit Quality Indicators

The following table presents internal risk ratings for commercial loans, commercial mortgages and certain construction loans, by class segment:

	Pass						Special Mention						Substandard or Lower						Total
	December 31, 2011			December 31, 2010			December 31, 2011			December 31, 2010			December 31, 2011			December 31, 2010			December 31, 2011			December 31, 2010
	(dollars in thousands)
Real estate - commercial mortgage	$	4,099,103		$	3,776,714		$	160,935		$	306,926		$	342,558		$	292,340		$	4,602,596		$	4,375,980
Commercial - secured	2,977,957			2,903,184			166,588			244,927			249,014			323,187			3,393,559			3,471,298
Commercial -unsecured	230,962			211,298			6,066			14,177			8,781			7,611			245,809			233,086
Total commercial - industrial, financial and agricultural	3,208,919			3,114,482			172,654			259,104			257,795			330,798			3,639,368			3,704,384
Construction - commercial residential	175,706			251,159			50,854			84,774			126,378			156,966			352,938			492,899
Construction - commercial	186,049			222,357			7,022			10,221			16,309			11,859			209,380			244,437
Total real estate - construction (excluding Construction - other)	361,755			473,516			57,876			94,995			142,687			168,825			562,318			737,336
Total	$	7,669,777		$	7,364,712		$	391,465		$	661,025		$	743,040		$	791,963		$	8,804,282		$	8,817,700
% of Total	87.1		%	83.5		%	4.5		%	7.5		%	8.4		%	9.0		%	100.0		%	100.0		%

The following table presents a summary of delinquency status for home equity, residential mortgage, consumer, leasing and other and certain construction loans by class segment:

	Performing						Delinquent (1)						Non-performing (2)						Total
	December 31, 2011			December 31, 2010			December 31, 2011			December 31, 2010			December 31, 2011			December 31, 2010			December 31, 2011			December 31, 2010
	(dollars in thousands)
Real estate - home equity	$	1,601,722		$	1,619,684		$	11,633		$	11,905		$	11,207		$	10,188		$	1,624,562		$	1,641,777
Real estate - residential mortgage	1,043,733			909,247			37,123			36,331			16,336			50,412			1,097,192			995,990
Real estate - construction - other	49,593			60,956			2,341			—			1,193			2,893			53,127			63,849
Consumer - direct	34,263			45,942			657			935			518			212			35,438			47,089
Consumer - indirect	151,112			166,531			2,437			2,275			183			290			153,732			169,096
Consumer - other	122,894			129,911			3,354			2,413			2,683			1,652			128,931			133,976
Total consumer	308,269			342,384			6,448			5,623			3,384			2,154			318,101			350,161
Leasing and other and overdrafts	70,550			63,087			1,049			516			107			227			71,706			63,830
Total	$	3,073,867		$	2,995,358		$	58,594		$	54,375		$	32,227		$	65,874		$	3,164,688		$	3,115,607
% of Total	97.1		%	96.2		%	1.9		%	1.7		%	1.0		%	2.1		%	100.0		%	100.0		%

(1)Includes all accruing loans 30 days to 89 days past due.

(2)Includes all accruing loans 90 days or more past due and all non-accrual loans

Non-Performing Assets

The following table presents non-performing assets as of December 31:

	2011		2010
	(in thousands)
Non-accrual loans	$	257,761	$	280,688
Accruing loans greater than 90 days past due	28,767		48,084
Total non-performing loans	286,528		328,772
Other real estate owned	30,803		32,959
Total non-performing assets	$	317,331	$	361,731

Troubled Debt Restructurings on Financing Receivables

The following table presents loans whose terms were modified under TDRs as of December 31:

	2011		2010
	(in thousands)
Real estate – residential mortgage	$	32,331	$	37,826
Real estate – commercial mortgage	22,425		18,778
Real estate – construction	7,645		5,440
Commercial – industrial, financial and agricultural	3,581		5,502
Consumer	193		263
Total accruingTDRs	66,175		67,809
Non-accrual TDRs (1)	32,587		51,175
Total TDRs	$	98,762	$	118,984

(1)Included within non-accrual loans in the preceding table

Loan Terms Modified Under Troubled Debt Restructurings during The Period By Class Segment

.

The following table presents loans modified as TDRs during the year ended December 31, 2011 and classified as TDRs as of December 31, 2011, by class segment:

	Number of Loans	Recorded Investment
	(dollars in thousands)
Real estate - commercial mortgage	20	$	18,821
Construction - commercial residential	4	8,991
Real estate - residential mortgage	17	3,912
Commercial - secured	11	3,150
Commercial - unsecured	1	132
	53	$	35,006

Schedule Of TDRs Modified Last 12 Months Which Had Payment Default In 2011

The following table presents loans modified during 2011, and classified as TDRs as of December 31, 2011, which had a payment default during the year ended December 31, 2011 , by class segment:

	Number of Loans	Recorded Investment
	(dollars in thousands)
Real estate - commercial mortgage	12	$	12,045
Construction - commercial residential	2	5,803
Real estate - residential mortgage	10	2,032
Commercial - secured	3	133
	27	$	20,013

Past due Loan Status and Non-Accrual Loans by Portfolio Segment

The following table presents past due status and non-accrual loans by portfolio segment and class segment:

	December 31, 2011
	31-59 Days Past Due		60-89 Days Past Due		≥ 90 Days Past Due and Accruing		Non- accrual		Total ≥ 90 Days		Total Past Due		Current		Total
	(in thousands)
Real estate - commercial mortgage	$	11,167	$	14,437	$	4,394	$	109,412	$	113,806	$	139,410	$	4,463,186	$	4,602,596
Commercial - secured	9,284		4,498		4,831		73,048		77,879		91,661		3,301,899		3,393,560
Commercial - unsecured	671		515		409		2,656		3,065		4,251		241,557		245,808
Total Commercial - industrial, financial and agricultural	9,955		5,013		5,240		75,704		80,944		95,912		3,543,456		3,639,368
Real estate - home equity	7,439		4,194		5,714		5,493		11,207		22,840		1,601,722		1,624,562
Real estate - residential mortgage	23,877		13,246		8,502		7,834		16,336		53,459		1,043,733		1,097,192
Construction - commercial residential	2,372		4,824		1,656		53,420		55,076		62,272		290,665		352,937
Construction - commercial	31		—		128		4,347		4,475		4,506		204,875		209,381
Construction - other	2,341		—		66		1,127		1,193		3,534		49,593		53,127
Total Real estate - construction	4,744		4,824		1,850		58,894		60,744		70,312		545,133		615,445
Consumer - direct	455		202		150		368		518		1,175		34,263		35,438
Consumer - indirect	1,997		440		183		—		183		2,620		151,112		153,732
Consumer - other	2,251		1,103		2,683		—		2,683		6,037		122,894		128,931
Total Consumer	4,703		1,745		3,016		368		3,384		9,832		308,269		318,101
Leasing and other and overdrafts	925		124		51		56		107		1,156		70,550		71,706
	$	62,810	$	43,583	$	28,767	$	257,761	$	286,528	$	392,921	$	11,576,049	$	11,968,970
	December 31, 2010
	31-59 Days Past Due		60-89 Days Past Due		≥ 90 Days Past Due and Accruing		Non- accrual		Total ≥ 90 Days		Total Past Due		Current		Total
	(in thousands)
Real estate - commercial mortgage	$	15,898	$	8,491	$	6,744	$	86,976	$	93,720	$	118,109	$	4,257,871	$	4,375,980
Commercial - secured	5,274		6,837		13,374		72,162		85,536		97,647		3,373,651		3,471,298
Commercial - unsecured	629		553		731		1,188		1,919		3,101		229,985		233,086
Total Commercial - industrial, financial and agricultural	5,903		7,390		14,105		73,350		87,455		100,748		3,603,636		3,704,384
Real estate - home equity	8,138		3,767		10,024		164		10,188		22,093		1,619,684		1,641,777
Real estate - residential mortgage	24,237		12,094		13,346		37,066		50,412		86,743		909,247		995,990
Construction - commercial residential	3,872		3,401		884		75,552		76,436		83,709		409,190		492,899
Construction - commercial	—		—		195		5,092		5,287		5,287		239,150		244,437
Construction - other	—		—		491		2,402		2,893		2,893		60,956		63,849
Total Real estate - construction	3,872		3,401		1,570		83,046		84,616		91,889		709,296		801,185
Consumer - direct	707		228		212		—		212		1,147		45,942		47,089
Consumer - indirect	1,916		359		290		—		290		2,565		166,531		169,096
Consumer - other	1,751		662		1,638		14		1,652		4,065		129,911		133,976
Total Consumer	4,374		1,249		2,140		14		2,154		7,777		342,384		350,161
Leasing and other and overdrafts	473		43		155		72		227		743		63,087		63,830
	$	62,895	$	36,435	$	48,084	$	280,688	$	328,772	$	428,102	$	11,505,205	$	11,933,307