Allowance for Credit Losses (Tables)

6 Months Ended

Jun. 30, 2015

The following table summarizes the allowance for credit losses at June 30, 2015 and December 31, 2014:



	June 30, 2015		December 31, 2014
	(in thousands)
Components of allowance for credit losses:
Allowance for non-covered loans	$	102,635	$	102,153
Allowance for covered loans	200		200
Total allowance for loan losses	102,835		102,353
Allowance for unfunded letters of credit	2,052		1,934
Total allowance for credit losses	$	104,887	$	104,287

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,
	2015		2014			2015		2014
	(in thousands)
Components of provision for credit losses:
Provision for non-covered loans	$	4,382	$	—		$	4,382	$	4,949
Provision for covered loans	—		(5,671		)	—		(5,671		)
Total provision for loan losses	4,382		(5,671		)	4,382		(722		)
Provision for unfunded letters of credit	118		—			118		(951		)
Total provision for credit losses	$	4,500	$	(5,671	)	$	4,500	$	(1,673	)

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, 2015 and 2014:



	Commercial and Industrial			Commercial Real Estate			Residential Mortgage			Consumer			Unallocated			Total
	(in thousands)
Three Months Ended June 30, 2015:
Allowance for loan losses:
Beginning balance	$	44,893		$	41,656		$	4,092		$	4,972		$	7,018		$	102,631
Loans charged-off ⁽¹⁾	(3,226		)	(2,590		)	(339		)	(1,194		)	—			(7,349		)
Charged-off loans recovered	1,986			690			130			365			—			3,171
Net charge-offs	(1,240		)	(1,900		)	(209		)	(829		)	—			(4,178		)
Provision for loan losses	(1,939		)	4,429			1,172			1,399			(679		)	4,382
Ending balance	$	41,714		$	44,185		$	5,055		$	5,542		$	6,339		$	102,835
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



	Commercial and Industrial			Commercial Real Estate			Residential Mortgage			Consumer			Unallocated			Total
	(in thousands)
Six Months Ended June 30, 2015:
Allowance for loan losses:
Beginning balance	$	43,676		$	42,840		$	5,093		$	5,179		$	5,565		$	102,353
Loans charged-off ⁽¹⁾	(3,979		)	(2,740		)	(388		)	(1,908		)	—			(9,015		)
Charged-off loans recovered	3,037			1,150			244			684			—			5,115
Net charge-offs	(942		)	(1,590		)	(144		)	(1,224		)	—			(3,900		)
Provision for loan losses	(1,020		)	2,935			106			1,587			774			4,382
Ending balance	$	41,714		$	44,185		$	5,055		$	5,542		$	6,339		$	102,835
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⁾	(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


(1)	Includes covered loans charge-offs totaling $749 thousand for both the three and six months ended June 30, 2014. There were no covered loan charge-offs during 2015.


(2)	Included covered loans recoveries totaling $462 thousand for both the three and six months ended June 30, 2014. There were no covered loan recoveries during 2015.

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, 2015 and December 31, 2014.



	Commercial and Industrial		Commercial Real Estate		Residential Mortgage		Consumer		Unallocated		Total
	(in thousands)
June 30, 2015
Allowance for loan losses:
Individually evaluated for impairment	$	3,724	$	4,682	$	1,427	$	818	$	—	$	10,651
Collectively evaluated for impairment	37,820		39,503		3,598		4,724		6,339		91,984
Loans acquired with discounts related to credit quality	170		—		30		—		—		200
Total	$	41,714	$	44,185	$	5,055	$	5,542	$	6,339	$	102,835
Loans:
Individually evaluated for impairment	$	24,839	$	93,926	$	22,889	$	4,713	$	—	$	146,367
Collectively evaluated for impairment	2,086,193		6,211,168		2,536,242		1,928,852		—		12,762,455
Loans acquired with discounts related to credit quality	260,999		1,064,123		144,950		101,400		—		1,571,472
Total	$	2,372,031	$	7,369,217	$	2,704,081	$	2,034,965	$	—	$	14,480,294
December 31, 2014
Allowance for loan losses:
Individually evaluated for impairment	$	4,929	$	5,502	$	1,629	$	465	$	—	$	12,525
Collectively evaluated for impairment	38,577		37,338		3,434		4,714		5,565		89,628
Loans acquired with discounts related to credit quality	170		—		30		—		—		200
Total	$	43,676	$	42,840	$	5,093	$	5,179	$	5,565	$	102,353
Loans:
Individually evaluated for impairment	$	28,224	$	91,298	$	22,340	$	3,146	$	—	$	145,008
Collectively evaluated for impairment	1,931,703		5,438,538		2,396,704		1,840,159		—		11,607,104
Loans acquired with discounts related to credit quality	291,184		1,164,179		157,328		109,110		—		1,721,801
Total	$	2,251,111	$	6,694,015	$	2,576,372	$	1,952,415	$	—	$	13,473,913