Summary of Activity in Allowance for Loan Losses |
The following table details activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2014 and 2013: | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial and Industrial | | Commercial Real Estate | | Residential Mortgage | | Consumer | | Unallocated | | Total | | (in thousands) | Three Months Ended March 31, 2014: | | | | | | | | | | | | Allowance for loan losses: | | | | | | | | | | | | Beginning balance | $ | 51,551 |
| | $ | 42,343 |
| | $ | 7,786 |
| | $ | 4,359 |
| | $ | 7,578 |
| | $ | 113,617 |
| Loans charged-off * | (8,614 | ) | | (4,490 | ) | | (63 | ) | | (1,072 | ) | | — |
| | (14,239 | ) | Charged-off loans recovered | 544 |
| | 1,337 |
| | 79 |
| | 422 |
| | — |
| | 2,382 |
| Net charge-offs | (8,070 | ) | | (3,153 | ) | | 16 |
| | (650 | ) | | — |
| | (11,857 | ) | Provision for loan losses | 6,451 |
| | (808 | ) | | (823 | ) | | 398 |
| | (269 | ) | | 4,949 |
| Ending balance | $ | 49,932 |
| | $ | 38,382 |
| | $ | 6,979 |
| | $ | 4,107 |
| | $ | 7,309 |
| | $ | 106,709 |
| Three Months Ended March 31, 2013: | | | | | | | | | | | | Allowance for loan losses: | | | | | | | | | | | | Beginning balance | $ | 64,370 |
| | $ | 44,069 |
| | $ | 9,423 |
| | $ | 5,542 |
| | $ | 6,796 |
| | $ | 130,200 |
| Loans charged-off | (7,325 | ) | | (1,993 | ) | | (892 | ) | | (1,509 | ) | | — |
| | (11,719 | ) | Charged-off loans recovered | 1,338 |
| | 15 |
| | 70 |
| | 396 |
| | — |
| | 1,819 |
| Net charge-offs | (5,987 | ) | | (1,978 | ) | | (822 | ) | | (1,113 | ) | | — |
| | (9,900 | ) | Provision for loan losses | (2,651 | ) | | 2,104 |
| | 730 |
| | 1,031 |
| | 330 |
| | 1,544 |
| Ending balance | $ | 55,732 |
| | $ | 44,195 |
| | $ | 9,331 |
| | $ | 5,460 |
| | $ | 7,126 |
| | $ | 121,844 |
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| | * | The commercial and industrial loan and commercial real estate loan categories included $4.8 million and $3.5 million of charge-offs, respectively, related to the valuation of non-performing loans transferred to loans held for sale at March 31, 2014. |
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Summary of Allocation of Allowance for Loan Losses and Related Loans by Loan Portfolio Segment Disaggregated Based on Impairment Methodology |
The following table represents the allocation of the allowance for loan losses and the related loans by loan portfolio segment disaggregated based on the impairment methodology at March 31, 2014 and December 31, 2013. | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial and Industrial | | Commercial Real Estate | | Residential Mortgage | | Consumer | | Unallocated | | Total | | (in thousands) | March 31, 2014 | | | | | | | | | | | | Allowance for loan losses: | | | | | | | | | | | | Individually evaluated for impairment | $ | 6,319 |
| | $ | 7,153 |
| | $ | 3,512 |
| | $ | 98 |
| | $ | — |
| | $ | 17,082 |
| Collectively evaluated for impairment | 43,101 |
| | 24,797 |
| | 3,344 |
| | 4,006 |
| | 7,309 |
| | 82,557 |
| Loans acquired with discounts related to credit quality | 512 |
| | 6,432 |
| | 123 |
| | 3 |
| | — |
| | 7,070 |
| Total | $ | 49,932 |
| | $ | 38,382 |
| | $ | 6,979 |
| | $ | 4,107 |
| | $ | 7,309 |
| | $ | 106,709 |
| Loans: | | | | | | | | | | | | Individually evaluated for impairment | $ | 36,123 |
| | $ | 102,916 |
| | $ | 26,628 |
| | $ | 1,321 |
| | $ | — |
| | $ | 166,988 |
| Collectively evaluated for impairment | 1,817,815 |
| | 4,950,003 |
| | 2,431,049 |
| | 1,586,140 |
| | — |
| | 10,785,007 |
| Loans acquired with discounts related to credit quality | 186,000 |
| | 496,816 |
| | 21,439 |
| | 38,344 |
| | — |
| | 742,599 |
| Total | $ | 2,039,938 |
| | $ | 5,549,735 |
| | $ | 2,479,116 |
| | $ | 1,625,805 |
| | $ | — |
| | $ | 11,694,594 |
| December 31, 2013 | | | | | | | | | | | | Allowance for loan losses: | | | | | | | | | | | | Individually evaluated for impairment | $ | 11,032 |
| | $ | 8,676 |
| | $ | 3,735 |
| | $ | 82 |
| | $ | — |
| | $ | 23,525 |
| Collectively evaluated for impairment | 40,007 |
| | 27,235 |
| | 3,928 |
| | 4,274 |
| | 7,578 |
| | 83,022 |
| Loans acquired with discounts related to credit quality | 512 |
| | 6,432 |
| | 123 |
| | 3 |
| | — |
| | 7,070 |
| Total | $ | 51,551 |
| | $ | 42,343 |
| | $ | 7,786 |
| | $ | 4,359 |
| | $ | 7,578 |
| | $ | 113,617 |
| Loans: | | | | | | | | | | | | Individually evaluated for impairment | $ | 47,303 |
| | $ | 114,638 |
| | $ | 28,313 |
| | $ | 1,094 |
| | $ | — |
| | $ | 191,348 |
| Collectively evaluated for impairment | 1,772,833 |
| | 4,814,159 |
| | 2,456,926 |
| | 1,526,078 |
| | — |
| | 10,569,996 |
| Loans acquired with discounts related to credit quality | 201,197 |
| | 543,603 |
| | 22,349 |
| | 39,119 |
| | — |
| | 806,268 |
| Total | $ | 2,021,333 |
| | $ | 5,472,400 |
| | $ | 2,507,588 |
| | $ | 1,566,291 |
| | $ | — |
| | $ | 11,567,612 |
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