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Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2014
Receivables [Abstract]  
Summary of Allowance for Credit Losses
The following table summarizes the allowance for credit losses at June 30, 2014 and December 31, 2013: 
 
June 30,
2014
 
December 31,
2013
 
(in thousands)
Components of allowance for credit losses:
 
 
 
Allowance for non-covered loans
$
101,942

 
$
106,547

Allowance for covered loans
1,111

 
7,070

Total allowance for loan losses
103,053

 
113,617

Allowance for unfunded letters of credit
2,544

 
3,495

Total allowance for credit losses
$
105,597

 
$
117,112
Summary of Provision for Credit Losses
The following table summarizes the provision for credit losses for the periods indicated:
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2014
 
2013
 
2014
 
2013
 
(in thousands)
Components of provision for credit losses:
 
 
 
 
 
 
 
Provision for non-covered loans
$
—

 
$
2,746

 
$
4,949

 
$
6,456

Provision for covered loans
(5,671
)
 
(110
)
 
(5,671
)
 
(2,276
)
Total provision for loan losses
(5,671
)
 
2,636

 
(722
)
 
4,180

Provision for unfunded letters of credit
—

 
(84
)
 
(951
)
 
141

Total provision for credit losses
$
(5,671
)
 
$
2,552

 
$
(1,673
)
 
$
4,321
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 and six months ended June 30, 2014 and 2013:
 
Commercial
and Industrial
 
Commercial
Real Estate
 
Residential
Mortgage
 
Consumer
 
Unallocated
 
Total
 
(in thousands)
Three Months Ended
June 30, 2014:
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
49,932

 
$
38,382

 
$
6,979

 
$
4,107

 
$
7,309

 
$
106,709

Loans charged-off (1)
(1,340
)
 
(2,032
)
 
(212
)
 
(1,167
)
 
—

 
(4,751
)
Charged-off loans recovered (2)
4,420

 
1,468

 
157

 
721

 
—

 
6,766

Net recoveries (charge-offs)
3,080

 
(564
)
 
(55
)
 
(446
)
 
—

 
2,015

Provision for loan losses
(4,591
)
 
(2,551
)
 
94

 
1,707

 
(330
)
 
(5,671
)
Ending balance
$
48,421

 
$
35,267

 
$
7,018

 
$
5,368

 
$
6,979

 
$
103,053

Three Months Ended
June 30, 2013:
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
55,732

 
$
44,195

 
$
9,331

 
$
5,460

 
$
7,126

 
$
121,844

Loans charged-off (1)
(1,441
)
 
(4,389
)
 
(1,666
)
 
(860
)
 
—

 
(8,356
)
Charged-off loans recovered
602

 
50

 
68

 
600

 
—

 
1,320

Net charge-offs
(839
)
 
(4,339
)
 
(1,598
)
 
(260
)
 
—

 
(7,036
)
Provision for loan losses
(1,161
)
 
3,323

 
788

 
(116
)
 
(198
)
 
2,636

Ending balance
$
53,732

 
$
43,179

 
$
8,521

 
$
5,084

 
$
6,928

 
$
117,444






 
Commercial
and Industrial
 
Commercial
Real Estate
 
Residential
Mortgage
 
Consumer
 
Unallocated
 
Total
 
(in thousands)
Six Months Ended
June 30, 2014:
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
51,551

 
$
42,343

 
$
7,786

 
$
4,359

 
$
7,578

 
$
113,617

Loans charged-off (1) (3)
(9,954
)
 
(6,522
)
 
(275
)
 
(2,239
)
 
—

 
(18,990
)
Charged-off loans recovered (2)
4,964

 
2,805

 
236

 
1,143

 
—

 
9,148

Net charge-offs
(4,990
)
 
(3,717
)
 
(39
)
 
(1,096
)
 
—

 
(9,842
)
Provision for loan losses
1,860

 
(3,359
)
 
(729
)
 
2,105

 
(599
)
 
(722
)
Ending balance
$
48,421

 
$
35,267

 
$
7,018

 
$
5,368

 
$
6,979

 
$
103,053

Six Months Ended
June 30, 2013:
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
64,370

 
$
44,069

 
$
9,423

 
$
5,542

 
$
6,796

 
$
130,200

Loans charged-off (1)
(8,766
)
 
(6,382
)
 
(2,558
)
 
(2,369
)
 
—

 
(20,075
)
Charged-off loans recovered
1,940

 
65

 
138

 
996

 
—

 
3,139

Net charge-offs
(6,826
)
 
(6,317
)
 
(2,420
)
 
(1,373
)
 
—

 
(16,936
)
Provision for loan losses
(3,812
)
 
5,427

 
1,518

 
915

 
132

 
4,180

Ending balance
$
53,732

 
$
43,179

 
$
8,521

 
$
5,084

 
$
6,928

 
$
117,444

 
(1)
Includes covered loans charge-offs totaling $749 thousand for both the three and six months ended June 30, 2014, and $146 thousand for the six months ended June 30, 2013. There were no covered loan charge-offs during the second quarter of 2013.
(2)
Included covered loans recoveries totaling $462 thousand for both the three and six months ended June 30, 2014.
(3)
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.
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 June 30, 2014 and December 31, 2013. 
 
Commercial
and Industrial
 
Commercial
Real Estate
 
Residential
Mortgage
 
Consumer
 
Unallocated
 
Total
 
(in thousands)
June 30, 2014
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
5,586

 
$
6,622

 
$
3,539

 
$
63

 
$
—

 
$
15,810

Collectively evaluated for impairment
41,753

 
28,645

 
3,450

 
5,305

 
6,979

 
86,132

Loans acquired with discounts related to credit quality
1,082

 
—

 
29

 
—

 
—

 
1,111

Total
$
48,421

 
$
35,267

 
$
7,018

 
$
5,368

 
$
6,979

 
$
103,053

Loans:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
31,914

 
$
107,193

 
$
26,326

 
$
1,397

 
$
—

 
$
166,830

Collectively evaluated for impairment
1,879,076

 
4,996,978

 
2,421,648

 
1,673,291

 
—

 
10,970,993

Loans acquired with discounts related to credit quality
169,622

 
448,271

 
20,990

 
36,722

 
—

 
675,605

Total
$
2,080,612

 
$
5,552,442

 
$
2,468,964

 
$
1,711,410

 
$
—

 
$
11,813,428

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