10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________________________________________

FORM 10-Q

____________________________________________________

xQuarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended June 30, 2015

or

¨Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Commission File Number: 001-16715

____________________________________________________

First Citizens BancShares, Inc.

(Exact name of Registrant as specified in its charter)

____________________________________________________

Delaware	56-1528994
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification Number)
4300 Six Forks Road, Raleigh, North Carolina	27609
(Address of principle executive offices)	(Zip code)

(919) 716-7000

(Registrant’s telephone number, including area code)

____________________________________________________

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding twelve months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past ninety days.    Yes  x   No  ¨

Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or such shorter period that the Registrant was required to submit and post such files)    Yes  x    No  ¨

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of ‘accelerated filer’ and ‘large accelerated filer’ in Rule 12b-2 of the Exchange Act:

Large accelerated filer	x	Accelerated filer	¨
Non-accelerated filer	¨	Smaller reporting company	¨

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x

Class A Common Stock—$1 Par Value—11,005,220 shares

Class B Common Stock—$1 Par Value—1,005,185 shares

(Number of shares outstanding, by class, as of August 4, 2015)

INDEX

		Page No.
PART I.	FINANCIAL INFORMATION
Item 1.	Financial Statements
	Consolidated Balance Sheets (Unaudited)	3
	Consolidated Statements of Income (Unaudited)	4
	Consolidated Statements of Comprehensive Income (Unaudited)	5
	Consolidated Statements of Changes in Shareholders’ Equity (Unaudited)	6
	Consolidated Statements of Cash Flows (Unaudited)	7
	Notes to Consolidated Financial Statements (Unaudited)	8
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	45
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	66
Item 4.	Controls and Procedures	66
PART II.	OTHER INFORMATION
Item 1.	Legal Proceedings	67
Item 1A.	Risk Factors	67
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	68
Item 6.	Exhibits	68

2

PART I

Item 1. Financial Statements

First Citizens BancShares, Inc. and Subsidiaries

Consolidated Balance Sheets

(Dollars in thousands, unaudited)	June 30, 2015			December 31, 2014
Assets
Cash and due from banks	$	514,404		$	604,182
Overnight investments	1,703,341			1,724,919
Investment securities available for sale	7,350,194			7,171,917
Investment securities held to maturity	351			518
Loans held for sale	85,040			63,696
Loans and leases	19,520,185			18,769,465
Less allowance for loan and lease losses	(208,317		)	(204,466		)
Net loans and leases	19,311,868			18,564,999
Premises and equipment	1,121,421			1,125,081
Other real estate owned:
Covered under loss share agreements	12,890			22,982
Not covered under loss share agreements	60,358			70,454
Income earned not collected	66,729			57,254
FDIC loss share receivable	5,808			28,701
Goodwill	139,773			139,773
Other intangible assets	98,998			106,610
Other assets	425,680			394,027
Total assets	$	30,896,855		$	30,075,113
Liabilities
Deposits:
Noninterest-bearing	$	8,970,056		$	8,086,784
Interest-bearing	17,541,840			17,591,793
Total deposits	26,511,896			25,678,577
Short-term borrowings	723,225			987,184
Long-term obligations	475,568			351,320
FDIC loss share payable	122,038			116,535
Other liabilities	270,238			253,903
Total liabilities	28,102,965			27,387,519
Shareholders’ equity
Common stock:
Class A - $1 par value (16,000,000 shares authorized; 11,005,220 shares issued and outstanding at June 30, 2015 and December 31, 2014)	11,005			11,005
Class B - $1 par value (2,000,000 shares authorized; 1,005,185 shares issued and outstanding at June 30, 2015 and December 31, 2014)	1,005			1,005
Surplus	658,918			658,918
Retained earnings	2,174,121			2,069,647
Accumulated other comprehensive loss	(51,159		)	(52,981		)
Total shareholders’ equity	2,793,890			2,687,594
Total liabilities and shareholders’ equity	$	30,896,855		$	30,075,113

See accompanying Notes to Consolidated Financial Statements.

3

First Citizens BancShares, Inc. and Subsidiaries

Consolidated Statements of Income

	Three months ended June 30						Six months ended June 30
(Dollars in thousands, except per share data, unaudited)	2015			2014			2015			2014
Interest income
Loans and leases	$	222,682		$	164,108		$	433,544		$	325,142
Investment securities and dividend income	21,806			12,447			41,116			24,195
Overnight investments	1,525			756			2,863			1,368
Total interest income	246,013			177,311			477,523			350,705
Interest expense
Deposits	5,534			6,006			11,163			12,831
Short-term borrowings	1,658			1,551			3,592			2,136
Long-term obligations	4,171			4,056			7,953			9,109
Total interest expense	11,363			11,613			22,708			24,076
Net interest income	234,650			165,698			454,815			326,629
Provision (credit) for loan and lease losses	7,719			(7,299		)	13,511			(9,202		)
Net interest income after provision (credit) for loan and lease losses	226,931			172,997			441,304			335,831
Noninterest income
Gain on acquisition	—			—			42,930			—
Cardholder services	19,214			13,257			37,615			25,089
Merchant services	22,070			15,035			40,950			28,556
Service charges on deposit accounts	22,361			15,265			44,419			29,705
Wealth management services	21,555			15,815			42,435			30,695
Fees from processing services	45			5,682			95			10,543
Securities gains	147			—			5,273			—
Other service charges and fees	5,685			4,250			11,140			8,194
Mortgage income	5,571			1,210			10,120			2,165
Insurance commissions	2,456			2,253			5,753			5,540
ATM income	1,825			1,260			3,489			2,462
Adjustments to FDIC loss share receivable	(4,553		)	(15,295		)	(5,600		)	(27,644		)
Other(1)	11,074			7,857			19,584			13,598
Total noninterest income	107,450			66,589			258,203			128,903
Noninterest expense
Salaries and wages	110,685			81,839			217,228			161,192
Employee benefits	27,212			19,741			57,358			39,841
Occupancy expense	25,532			20,300			51,152			40,710
Equipment expense	23,296			19,581			46,837			38,354
FDIC insurance expense	4,551			2,640			8,822			5,276
Foreclosure-related expenses	1,019			3,858			3,576			9,268
Merger-related expenses	4,573			3,450			7,570			5,903
Other	67,823			47,611			130,314			89,506
Total noninterest expense	264,691			199,020			522,857			390,050
Income before income taxes	69,690			40,566			176,650			74,684
Income taxes(1)	25,168			13,880			64,970			25,519
Net income(1)	$	44,522		$	26,686		$	111,680		$	49,165
Average shares outstanding	12,010,405			9,618,941			12,010,405			9,618,941
Net income per share(1)	$	3.71		$	2.77		$	9.30		$	5.11

⁽¹⁾ Amounts for the 2014 period have been updated to reflect the fourth quarter 2014 adoption of Accounting Standard Update (ASU) 2014-01 related to investments in qualified affordable housing projects.

See accompanying Notes to Consolidated Financial Statements.

4

First Citizens BancShares, Inc. and Subsidiaries

Consolidated Statements of Comprehensive Income

	Three months ended June 30						Six months ended June 30
(Dollars in thousands, unaudited)	2015			2014			2015			2014
Net income(1)	$	44,522		$	26,686		$	111,680		$	49,165
Other comprehensive income:
Unrealized (losses) gains on securities:
Change in unrealized securities (losses) gains arising during period	(29,226		)	31,550			1,189			43,449
Tax effect	11,352			(12,225		)	(461		)	(16,868		)
Reclassification adjustment for net gains realized and included in income before income taxes	(147		)	—			(5,273		)	—
Tax effect	74			—			2,051			—
Total change in unrealized (losses) gains on securities, net of tax	(17,947		)	19,325			(2,494		)	26,581
Change in fair value of cash flow hedges:
Change in unrecognized loss on cash flow hedges	709			568			1,285			1,287
Tax effect	(274		)	(218		)	(496		)	(496		)
Total change in unrecognized loss on cash flow hedges, net of tax	435			350			789			791
Change in pension obligation:
Amortization of actuarial losses and prior service cost	2,887			1,598			5,773			3,197
Tax effect	(1,123		)	(622		)	(2,246		)	(1,244		)
Total change in pension obligation, net of tax	1,764			976			3,527			1,953
Other comprehensive income	(15,748		)	20,651			1,822			29,325
Total comprehensive income(1)	$	28,774		$	47,337		$	113,502		$	78,490

⁽¹⁾ Amounts for 2014 period have been updated to reflect the fourth quarter 2014 adoption of ASU 2014-01 related to investments in qualified affordable housing projects.

See accompanying Notes to Consolidated Financial Statements.

5

First Citizens BancShares, Inc. and Subsidiaries

Consolidated Statements of Changes in Shareholders’ Equity

(Dollars in thousands, unaudited)	Class A Common Stock		Class B Common Stock		Surplus		Retained Earnings			Accumulated Other Comprehensive (Loss) Income			Total Shareholders’ Equity
Balance at December 31, 2013	$	8,586	$	1,033	$	143,766	$	1,943,345		$	(25,268	)	$	2,071,462
Net income(1)	—		—		—		49,165			—			49,165
Other comprehensive income, net of tax	—		—		—		—			29,325			29,325
Cash dividends ($0.60 per share)	—		—		—		(5,771		)	—			(5,771		)
Balance at June 30, 2014	$	8,586	$	1,033	$	143,766	$	1,986,739		$	4,057		$	2,144,181
Balance at December 31, 2014	$	11,005	$	1,005	$	658,918	$	2,069,647		$	(52,981	)	$	2,687,594
Net income	—		—		—		111,680			—			111,680
Other comprehensive income, net of tax	—		—		—		—			1,822			1,822
Cash dividends ($0.60 per share)	—		—		—		(7,206		)	—			(7,206		)
Balance at June 30, 2015	$	11,005	$	1,005	$	658,918	$	2,174,121		$	(51,159	)	$	2,793,890

⁽¹⁾ Amount for the 2014 period has been updated to reflect the fourth quarter 2014 adoption of ASU 2014-01 related to investments in qualified affordable housing projects.

See accompanying Notes to Consolidated Financial Statements.

6

First Citizens BancShares, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

	Six months ended June 30
(Dollars in thousands, unaudited)	2015			2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income(1)	$	111,680		$	49,165
Adjustments to reconcile net income to cash provided by operating activities:
Provision (credit) for loan and lease losses	13,511			(9,202		)
Deferred tax benefit(1)	(23,762		)	(3,640		)
Net change in current taxes	(25,261		)	5,973
Depreciation	44,312			35,455
Net change in accrued interest payable	(2,359		)	560
Net increase in income earned not collected	(9,475		)	(629		)
Gain on acquisition	(42,930		)	—
Securities gains	(5,273		)	—
Origination of loans held for sale	(355,819		)	(123,144		)
Proceeds from sale of loans held for sale	338,466			123,967
Gain on sale of loans	(3,991		)	(2,220		)
Net writedowns/losses on other real estate	3,188			6,993
Net amortization of premiums and discounts(1)	(45,662		)	(17,288		)
Amortization of intangible assets	8,302			1,207
Reduction in FDIC receivable for loss share agreements	27,291			17,121
Increase in FDIC payable for loss share agreements	5,503			4,903
Net change in other assets(1)	14,243			(32,693		)
Net change in other liabilities	25,085			35,033
Net cash provided by operating activities	77,049			91,561
CASH FLOWS FROM INVESTING ACTIVITIES
Net increase in loans outstanding	(566,524		)	(57,271		)
Purchases of investment securities available for sale	(1,435,387		)	(1,409,878		)
Proceeds from maturities/calls of investment securities held to maturity	167			214
Proceeds from maturities/calls of investment securities available for sale	757,780			1,529,687
Proceeds from sales of investment securities available for sale	522,024			—
Net change in overnight investments	21,578			(259,150		)
Cash paid to the FDIC for loss share agreements	(10,890		)	(4,350		)
Proceeds from sales of other real estate	47,391			38,370
Additions to premises and equipment	(31,921		)	(39,550		)
Business acquisition, net cash acquired	123,137			18,194
Net cash used by investing activities	(572,645		)	(183,734		)
CASH FLOWS FROM FINANCING ACTIVITIES
Net decrease in time deposits	(359,125		)	(219,297		)
Net increase in demand and other interest-bearing deposits	926,092			270,118
Net change in short-term borrowings	(269,460		)	81,716
Repayment of long-term obligations	(4,483		)	(1,240		)
Origination of long-term obligations	120,000			—
Cash dividends paid	(7,206		)	(5,771		)
Net cash provided by financing activities	405,818			125,526
Change in cash and due from banks	(89,778		)	33,353
Cash and due from banks at beginning of period	604,182			533,599
Cash and due from banks at end of period	$	514,404		$	566,952
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Transfers of loans to other real estate	$	30,350		$	25,080
Dividends declared but not paid	3,603			2,886

⁽¹⁾ Amounts for the 2014 period have been updated to reflect the fourth quarter 2014 adoption of ASU 2014-01 related to investments in qualified affordable housing projects.

See accompanying Notes to Consolidated Financial Statements.

7

First Citizens BancShares, Inc. and Subsidiaries

Notes to Unaudited Consolidated Financial Statements

NOTE A - ACCOUNTING POLICIES AND BASIS OF PRESENTATION

First Citizens BancShares, Inc. (BancShares) is a financial holding company organized under the laws of Delaware and conducts operations through its banking subsidiary, First-Citizens Bank & Trust Company (FCB), which is headquartered in Raleigh, North Carolina.

General

These consolidated financial statements and notes thereto are presented in accordance with instructions for Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include all information and notes necessary for a complete presentation of financial position, results of operations and cash flow activity required in accordance with accounting principles generally accepted in the United States of America (GAAP). In the opinion of management, all normal recurring adjustments necessary for a fair presentation of the consolidated financial position and consolidated results of operations have been made. The unaudited interim consolidated financial statements included in this Form 10-Q should be read in conjunction with the consolidated financial statements and footnotes included in BancShares' Annual Report on Form 10-K for the year ended December 31, 2014.

Reclassifications

Prior period financial statements reflect the retrospective application of Accounting Standards Update (ASU) 2014-01, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments Qualified Affordable Housing Projects which was adopted effective in the fourth quarter of 2014 and did not have a material impact on our consolidated financial condition or results of operations. In certain instances other than the retrospective adoption of ASU 2014-01, amounts reported in prior years' consolidated financial statements have been reclassified to conform to the current financial statement presentation. Such reclassifications had no effect on previously reported shareholders' equity or net income.

Fair values recorded as a result of acquisitions are subject to refinement for up to one year after the closing date of the transaction as additional information regarding closing date fair values becomes available. We have increased previously reported amounts of gain on acquisition, net income and retained earnings for the six months ended June 30, 2015 by $3.3 million, net of tax, as a result of adjustments made to the fair value of assets acquired in the FDIC-assisted acquisition of Capitol City Bank & Trust (CCBT) of Atlanta, Georgia in the first quarter of 2015.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates, and different assumptions in the application of these policies could result in material changes in BancShares' consolidated financial position, the consolidated results of its operations or related disclosures. Material estimates that are particularly susceptible to significant change include:

• Allowance for loan and lease losses

• Fair value of financial instruments, including acquired assets and assumed liabilities

• Pension plan assumptions

• Cash flow estimates on purchased credit-impaired loans

• Receivable from and payable to the FDIC for loss share agreements

• Income tax assets, liabilities and expense

Recently Adopted Accounting Pronouncements

Financial Accounting Standards Board (FASB) ASU 2015-10 Technical Corrections and Improvements

The amendments in this ASU represent changes to clarify the Codification, correct unintended application of guidance and make minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Additionally, some of the amendments will make the Codification easier to understand and easier to apply by eliminating inconsistencies, providing needed clarifications, and improving the presentation of guidance in the Codification.

8

The transition guidance varies based on the amendments in this ASU. The amendments in this ASU that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. All other amendments will be effective upon the issuance. We adopted the amendments effective second quarter of 2015. The adoption did not have an impact on our consolidated financial position or consolidated results of operations.

FASB ASU 2015-08 Business Combinations (Topic 805): Pushdown Accounting - Amendments to Securities and Exchange Commission (SEC) Paragraphs Pursuant to Staff Accounting Bulletin No. 115

The amendments in this ASU remove references to SEC Staff Accounting Bulletin (SAB) Topic 5.J as the SEC staff previously rescinded its guidance with the issuance of SAB No. 115 when the FASB issued its own pushdown accounting guidance in ASU 2014-17, an amendment we adopted effective fourth quarter of 2014. We adopted the amendments in ASU 2015-08 effective second quarter of 2015. The adoption did not have an impact on our consolidated financial position or consolidated results of operations.

FASB ASU 2014-14, Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure

This ASU requires a reporting entity to derecognize a mortgage loan and recognize a separate other receivable upon foreclosure if the following conditions are met: the loan has a government guarantee that is not separable from the loan before foreclosure; at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim and at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance expected to be recovered from the guarantor.

The amendments in this ASU were effective for public entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. We adopted this guidance effective first quarter of 2015. The initial adoption did not have any effect on our consolidated financial position or consolidated results of operations.

FASB ASU 2014-11, Transfers and Servicing (Topic 860)

This ASU aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as a repurchase financing with the accounting for other typical repurchase agreements. Going forward, these transactions would all be accounted for as secured borrowings. The guidance eliminates sale accounting for repurchase-to-maturity transactions and supersedes the guidance under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement, which has resulted in outcomes referred to as off-balance-sheet accounting. The ASU requires a new disclosure for transactions economically similar to repurchase agreements in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction. The ASU also requires expanded disclosures about the nature of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings.

The accounting changes in this ASU were effective for fiscal years beginning after December 15, 2014. In addition, the disclosure for certain transactions accounted for as a sale was effective for the fiscal period beginning after December 15, 2014, the disclosures for transactions accounted for as secured borrowings were required to be presented for fiscal periods beginning after December 15, 2014, and interim periods beginning after March 15, 2015. We adopted the guidance effective first quarter of 2015. The initial adoption did not have any effect on our consolidated financial position or consolidated results of operations. The new disclosures required by this ASU are included in Note I.

FASB ASU 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40)

This ASU clarifies that an in-substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction.

The amendments in this ASU were effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. We adopted the guidance effective first quarter of 2015. The initial adoption did not have any effect on our consolidated financial position or consolidated results of operations. The new disclosures required by this ASU are included in Note F.

9

FASB ASU 2014-01, Investments - Equity Method and Joint Ventures (Topic 323) - Accounting for Investments in Qualified Affordable Housing Projects

This ASU permits an accounting policy election to account for investments in qualified affordable housing projects (LIHTC) using the proportional amortization method if certain conditions are met. Under the proportional amortization method, the initial cost of the investment is amortized in proportion to the tax credits and other tax benefits received and recognize the net investment performance in the income statement as a component of income tax expense (benefit).

For those investments in qualified affordable housing projects not accounted for using the proportional amortization method, the investment should be accounted for as an equity method investment or a cost method investment in accordance with ASC 970-323.

The decision to apply the proportional amortization method of accounting will be applied consistently to all qualifying affordable housing project investments rather than a decision to be applied to individual investments.

BancShares early adopted the guidance effective in the fourth quarter of 2014. Previously, LIHTC investments were accounted for under the cost or equity method, and the amortization was recorded as a reduction to other noninterest income, with the tax credits and other benefits received recorded as a component of the provision for income taxes. BancShares believes the proportional amortization method better represents the economics of LIHTC investments and provides users with a better understanding of the returns from such investments than the cost or equity method. LIHTC investments were $76.4 million and $57.1 million at June 30, 2015 and December 31, 2014, respectively, included in "other assets" on the Consolidated Balance Sheets.

The cumulative effect of the retrospective application of the change in amortization method was a $2.4 million decrease to both "other assets" and "retained earnings" on the Consolidated Balance Sheets as of January 1, 2012. Under the new amortization method of accounting, amortization expense is recognized in income tax expense in the Consolidated Statements of Income and is offset by the tax effect of tax losses and tax credits received from the investments. This change resulted in a reclassification of expense previously recorded as a reduction in other noninterest income to income tax expense along with additional amortization recognized under the new method of accounting in the Consolidated Statements of Income. An additional change resulting from the new amortization method of accounting was that a deferred tax asset or liability no longer exists as a result of these investments, thus in the retrospective application of the new method, the removal of the deferred tax asset previously reported as well as the additional amortization of the investments, both recorded in other assets, reflected in the Consolidated Balance Sheets were removed. We do not believe the impact of this change in accounting principle is material.

Recently Issued Accounting Pronouncements

FASB ASU 2015-03, Interest–Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs

This ASU simplifies the presentation of debt issuance costs by requiring that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of debt liability, consistent with debt discounts or premiums. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update.

This ASU is effective for interim and annual periods beginning after December 15, 2015 for public companies, and is to be applied retrospectively. Early adoption is permitted. We will adopt the guidance effective in the first quarter of 2016 and do not anticipate any impact on our consolidated financial position or consolidated results of operations as a result of adoption.

FASB ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis

This ASU improves targeted areas of consolidation guidance for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. In addition to reducing the number of consolidation models from four to two, the new standard places more emphasis on risk of loss when determining a controlling financial interest, reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a variable interest entity ("VIE"), and changing consolidation conclusions for public and private companies in several industries that typically make use of limited partnerships or VIEs.

The amendments in this ASU are effective for periods beginning after December 15, 2015 for public companies. Early adoption is permitted. We will adopt the guidance effective in the first quarter of 2016 and do not anticipate any significant impact on our consolidated financial position or consolidated results of operations as a result of adoption.

FASB ASU 2014-09, Revenue from Contracts with Customers (Topic 606)

In May 2014, the FASB issued a standard on the recognition of revenue from contracts with customers with the core principle being for companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard also results

10

in enhanced disclosures about revenue, provides guidance for transactions that were not previously addressed comprehensively and improves guidance for multiple-element arrangements.

The ASU was deferred and is effective for fiscal periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted for fiscal periods beginning after December 15, 2016. We are currently evaluating the impact of the new standard and we will adopt during the first quarter of 2018 using one of two retrospective application methods.

NOTE B - BUSINESS COMBINATIONS

Capitol City Bank & Trust Company

On February 13, 2015, FCB entered into an agreement with the Federal Deposit Insurance Corporation (FDIC), as Receiver, to purchase certain assets and assume certain liabilities of CCBT. The acquisition expanded FCB's presence in Georgia as CCBT operated eight branch locations in Atlanta, Stone Mountain, Albany, Augusta and Savannah, Georgia. In June of 2015, FCB closed one of the branches in Atlanta.

The fair value of the assets acquired recorded was $211.9 million, including $154.5 million in loans and $690 thousand of identifiable intangible assets. Liabilities assumed were $272.5 million of which $266.4 million were deposits. During the second quarter of 2015, adjustments were made to the acquisition fair values primarily based upon updated collateral valuations resulting in an increase of $5.4 million to the gain on acquisition. These adjustments were applied retroactively to the first quarter of 2015 and brought the total gain on the transaction to $42.9 million which is included in noninterest income in the Consolidated Statements of Income. The total after-tax impact of the gain was $26.2 million.

The CCBT transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as additional information regarding closing date fair values becomes available.

The following table provides the identifiable assets acquired and liabilities assumed at their estimated fair values as of the acquisition date.

(Dollars in thousands)	As recorded by FCB
Assets
Cash and cash equivalents	$	19,622
Investment securities	35,413
Loans	154,496
Intangible assets	690
Other assets	1,714
Total assets acquired	211,935
Liabilities
Deposits	266,352
Short-term borrowings	5,501
Other liabilities	667
Total liabilities assumed	272,520
Fair value of net liabilities assumed	(60,585		)
Cash received from FDIC	103,515
Gain on acquisition of CCBT	$	42,930

Merger-related expenses of $1.1 million and $1.3 million were recorded in the Consolidated Statements of Income for the three and six months ended June 30, 2015, respectively. Loan-related interest income generated from CCBT was approximately $2.4 million for the second quarter of 2015 and $3.7 million since the acquisition date.

All loans resulting from the CCBT transaction were recorded at the acquisition date with a discount attributable, at least in part, to credit quality, and are therefore accounted for as purchased credit-impaired (PCI) loans under ASC 310-30.

First Citizens Bancorporation, Inc. and First Citizens Bank and Trust Company, Inc.

On October 1, 2014, BancShares completed the merger of First Citizens Bancorporation, Inc. (Bancorporation) with and into BancShares pursuant to an Agreement and Plan of Merger dated June 10, 2014, as amended on July 29, 2014. First Citizens Bank and Trust Company, Inc. merged with and into FCB on January 1, 2015.

11

Under the terms of the Merger Agreement, each share of Bancorporation common stock was converted into the right to receive 4.00 shares of BancShares' Class A common stock and $50.00 cash, unless the holder elected for each share to be converted into the right to receive 3.58 shares of BancShares' Class A common stock and 0.42 shares of BancShares' Class B common stock. BancShares issued 2,586,762 Class A common shares at a fair value of $560.4 million and 18,202 Class B common shares at a fair value of $3.9 million to Bancorporation shareholders. Also, cash paid to Bancorporation shareholders was $30.4 million. At the time of the merger, Bancorporation owned 32,042 shares of common stock in Bancorporation with an approximate fair value of $29.6 million. The fair value of common stock owned by BancShares in Bancorporation was considered part of the purchase price, and the shares ceased to exist after completion of the merger.

The Bancorporation transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition. Assets acquired, excluding goodwill, totaled $8.28 billion, including $4.49 billion in loans and leases, $2.01 billion of investment securities available for sale, $1.28 billion in cash and overnight investments, and $109.4 million of identifiable intangible assets. Liabilities assumed were $7.66 billion, including $7.17 billion of deposits. Goodwill of $4.2 million was recorded equaling the excess purchase price over the estimated fair value of the net assets acquired on the acquisition date.

The following unaudited pro forma financial information reflects the consolidated results of operations of BancShares. These results combine the historical results of Bancorporation in the BancShares' Consolidated Statements of Income and, while certain adjustments were made for the estimated impact of certain fair value adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition taken place at the beginning of the period presented. The unaudited pro forma information has been presented for illustrative purposes only and is not necessarily indicative of the consolidated results of operations that would have been achieved or the future results of operations of BancShares.

	Three months ended June 30		Six months ended June 30
(Dollars in thousands)	2014		2014
Total revenue (interest income plus noninterest income)	$	330,253	$	653,777
Net income	$	40,259	$	77,489

12

NOTE C - INVESTMENTS

The amortized cost and fair value of investment securities classified as available for sale and held to maturity at June 30, 2015 and December 31, 2014, are as follows:

	June 30, 2015
(Dollars in thousands)	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Investment securities available for sale
U.S. Treasury	$	2,198,027	$	8,832	$	—	$	2,206,859
Government agency	774,962		1,667		385		776,244
Mortgage-backed securities	4,372,946		11,664		17,519		4,367,091
Total investment securities available for sale	$	7,345,935	$	22,163	$	17,904	$	7,350,194
	December 31, 2014
	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
U.S. Treasury	$	2,626,900	$	2,922	$	152	$	2,629,670
Government agency	908,362		702		247		908,817
Mortgage-backed securities	3,628,187		16,964		11,847		3,633,304
Municipal securities	125		1		—		126
Total investment securities available for sale	$	7,163,574	$	20,589	$	12,246	$	7,171,917
	June 30, 2015
	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Investment securities held to maturity
Mortgage-backed securities	$	351	$	14	$	—	$	365
	December 31, 2014
	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Mortgage-backed securities	$	518	$	26	$	—	$	544

Investments in mortgage-backed securities primarily represent securities issued by the Government National Mortgage Association, Federal National Mortgage Association and Federal Home Loan Mortgage Corporation.The following table provides the amortized cost and fair value by contractual maturity. Expected maturities will differ from contractual maturities on certain securities because borrowers and issuers may have the right to call or prepay obligations with or without prepayment penalties. Repayments of mortgage-backed securities are dependent on the repayments of the underlying loan balances.

	June 30, 2015				December 31, 2014
(Dollars in thousands)	Cost		Fair value		Cost		Fair value
Investment securities available for sale
Non-amortizing securities maturing in:
One year or less	$	412,357	$	412,720	$	447,866	$	447,992
One through five years	2,560,632		2,570,383		3,087,521		3,090,621
Mortgage-backed securities	4,372,946		4,367,091		3,628,187		3,633,304
Total investment securities available for sale	$	7,345,935	$	7,350,194	$	7,163,574	$	7,171,917
Investment securities held to maturity
Mortgage-backed securities held to maturity	$	351	$	365	$	518	$	544

13

For each period presented, securities gains (losses) included the following:

	Three months ended June 30					Six months ended June 30
(Dollars in thousands)	2015			2014		2015			2014
Gross gains on sales of investment securities available for sale	$	151		$	—	$	5,286		$	—
Gross losses on sales of investment securities available for sale	(4		)	—		(13		)	—
Total net securities gain	$	147		$	—	$	5,273		$	—

The following table provides information regarding securities with unrealized losses as of June 30, 2015 and December 31, 2014.

	June 30, 2015
	Less than 12 months				12 months or more				Total
(Dollars in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Investment securities available for sale:
Government agency	90,567		385		—		—		90,567		385
Mortgage-backed securities	1,872,344		12,736		296,170		4,783		2,168,514		17,519
Total	$	1,962,911	$	13,121	$	296,170	$	4,783	$	2,259,081	$	17,904
	December 31, 2014
	Less than 12 months				12 months or more				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Investment securities available for sale:
U.S. Treasury	$	338,612	$	151	$	1,015	$	1	$	339,627	$	152
Government agency	261,288		247		—		—		261,288		247
Mortgage-backed securities	573,374		1,805		831,405		10,042		1,404,779		11,847
Total	$	1,173,274	$	2,203	$	832,420	$	10,043	$	2,005,694	$	12,246

Investment securities with an aggregate fair value of $296.2 million and $832.4 million had continuous unrealized losses for more than 12 months as of June 30, 2015 and December 31, 2014, respectively, with an aggregate unrealized loss of $4.8 million and $10.0 million, respectively. As of June 30, 2015, all 38 of these investments are government sponsored enterprise-issued mortgage-backed securities. None of the unrealized losses identified as of June 30, 2015 or December 31, 2014 relate to the marketability of the securities or the issuer’s ability to honor redemption obligations. Rather, the unrealized losses relate to changes in interest rates relative to when the investment securities were purchased. For all periods presented, BancShares had the ability and intent to retain these securities for a period of time sufficient to recover all unrealized losses. Therefore, none of the securities were deemed to be other than temporarily impaired.

Investment securities having an aggregate carrying value of $4.69 billion at June 30, 2015 and $4.37 billion at December 31, 2014 were pledged as collateral to secure public funds on deposit and certain short-term borrowings, and for other purposes as required by law.

14

NOTE D - LOANS AND LEASES

BancShares' accounting methods for loans and leases differ depending on whether they are purchased credit-impaired (PCI) or non-PCI. Non-PCI loans and leases include originated commercial, originated noncommercial, purchased revolving, and purchased non-impaired loans. For purchased non-impaired loans to be included as non-PCI, it must be determined that the loans that do not have a discount, due at least in part, to credit quality at the time of acquisition. Conversely, loans for which it is probable at acquisition that all required payments will not be collected in accordance with contractual terms are considered PCI loans. PCI loans are evaluated at acquisition and where a discount is required at least in part due to credit quality, the nonrevolving loans are accounted for under the guidance in ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality. PCI loans and leases are recorded at fair value at the date of acquisition. No allowance for loan and lease losses is recorded on the acquisition date as the fair value of the acquired assets incorporates assumptions regarding credit risk. An allowance is recorded if there is additional credit deterioration after the acquisition date.

BancShares reports PCI and non-PCI loan portfolios separately, and each portfolio is further divided into commercial and non-commercial based on the type of borrower, purpose, collateral, and/or our underlying credit management processes. Additionally, loans are assigned to loan classes, which further disaggregate loans based upon common risk characteristics.

Commercial –Commercial loans include construction and land development, mortgage, other commercial real estate, commercial and industrial, lease financing and other.

Construction and land development – Construction and land development consists of loans to finance land for development, investment, and use in a commercial business enterprise; multifamily apartments; and other commercial buildings that may be owner-occupied or income generating investments for the owner.

Commercial mortgage – Commercial mortgage consists of loans to purchase or refinance owner-occupied nonresidential and investment properties. Investment properties include office buildings and other facilities that are rented or leased to unrelated parties.

Other commercial real estate – Other commercial real estate consists of loans secured by farmland (including residential farms and other improvements) and multifamily (5 or more) residential properties.

Commercial and industrial – Commercial and industrial consists of loans or lines of credit to finance corporate credit cards, accounts receivable, inventory and other general business purposes.

Lease financing – Lease financing consists solely of lease financing agreements for business equipment, vehicles and other assets.

Other – Other consists of all other commercial loans not classified in one of the preceding classes. These typically include loans to non-profit organizations such as churches, hospitals, educational and charitable organizations.

Noncommercial – Noncommercial consist of residential and revolving mortgage, construction and land development, and consumer loans.

Residential mortgage – Residential real estate consists of loans to purchase, construct or refinance the borrower's primary dwelling, second residence or vacation home.

Revolving mortgage – Revolving mortgage consists of home equity lines of credit that are secured by first or second liens on the borrower's primary residence.

Construction and land development – Construction and land development consists of loans to construct the borrower's primary or secondary residence or vacant land upon which the owner intends to construct a dwelling at a future date.

Consumer – Consumer loans consist of installment loans to finance purchases of vehicles, unsecured home improvements and revolving lines of credit that can be secured or unsecured, including personal credit cards.

15

Loans and leases outstanding included the following at June 30, 2015 and December 31, 2014:

(Dollars in thousands)	June 30, 2015		December 31, 2014
Non-PCI loans and leases:
Commercial:
Construction and land development	$	547,151	$	493,133
Commercial mortgage	7,861,590		7,552,948
Other commercial real estate	288,214		244,875
Commercial and industrial	2,199,591		1,988,934
Lease financing	643,508		571,916
Other	338,389		353,833
Total commercial loans	11,878,443		11,205,639
Noncommercial:
Residential mortgage	2,597,064		2,493,058
Revolving mortgage	2,529,936		2,561,800
Construction and land development	227,280		205,016
Consumer	1,164,223		1,117,454
Total noncommercial loans	6,518,503		6,377,328
Total non-PCI loans and leases	18,396,946		17,582,967
PCI loans:
Commercial:
Construction and land development	48,208		78,079
Commercial mortgage	611,505		577,518
Other commercial real estate	14,353		40,193
Commercial and industrial	20,382		27,254
Other	2,597		3,079
Total commercial loans	697,045		726,123
Noncommercial:
Residential mortgage	358,307		382,340
Revolving mortgage	64,340		74,109
Construction and land development	345		912
Consumer	3,202		3,014
Total noncommercial loans	426,194		460,375
Total PCI loans	1,123,239		1,186,498
Total loans and leases	$	19,520,185	$	18,769,465

At June 30, 2015, $319.7 million of total loans and leases were covered under loss share agreements, compared to $485.3 million at December 31, 2014. At the beginning of the second quarter of 2015, loss share protection expired for non-single family residential loans acquired from Sun American Bank ("SAB") and all loans acquired from First Regional Bank ("FRB"). Loan balances at June 30, 2015 for the expiring agreements from SAB and FRB were $30.9 million and $9.0 million, respectively. Loss share protection for Williamsburg First National Bank non-single family residential loans with a balance of $8.2 million at June 30, 2015 will expire at the beginning of the fourth quarter of 2015.

At June 30, 2015, $3.31 billion in noncovered loans with a lendable collateral value of $2.38 billion were used to secure $290.3 million in Federal Home Loan Bank ("FHLB") of Atlanta advances, resulting in additional borrowing capacity of $2.09 billion. At December 31, 2014, $3.16 billion in noncovered loans with a lendable collateral value of $2.20 billion were used to secure $240.3 million in FHLB of Atlanta advances, resulting additional borrowing capacity of $1.96 billion.

The unamortized discount related to the non-PCI loans and leases acquired in the Bancorporation merger totaled $49.3 million and $61.2 million at June 30, 2015 and December 31, 2014, respectively.

16

Credit quality indicators

Loans and leases are monitored for credit quality on a recurring basis. The credit quality indicators used are dependent on the portfolio segment to which the loan relates. Commercial and noncommercial loans and leases have different credit quality indicators as a result of the unique characteristics of the loan segment being evaluated. The credit quality indicators for non-PCI and PCI commercial loans and leases are developed through a review of individual borrowers on an ongoing basis. Each commercial loan is evaluated annually with more frequent evaluation of more severely criticized loans or leases. The credit quality indicators for non-PCI and PCI noncommercial loans are based on the delinquency status of the borrower. As the borrower becomes more delinquent, the likelihood of loss increases. The indicators represent the rating for loans or leases as of the date presented based on the most recent assessment performed. These credit quality indicators are defined as follows:

Pass – A pass rated asset is not adversely classified because it does not display any of the characteristics for adverse classification.

Special mention – A special mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention assets are not adversely classified and do not warrant adverse classification.

Substandard – A substandard asset is inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Assets classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These assets are characterized by the distinct possibility of loss if the deficiencies are not corrected.

Doubtful – An asset classified as doubtful has all the weaknesses inherent in an asset classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable on the basis of currently existing facts, conditions and values.

Loss – Assets classified as loss are considered uncollectible and of such little value that it is inappropriate to be carried as an asset. This classification is not necessarily equivalent to no potential for recovery or salvage value, but rather that it is not appropriate to defer a full charge-off even though partial recovery may be effected in the future.

Ungraded – Ungraded loans represent loans that are not included in the individual credit grading process due to their relatively small balances or borrower type. The majority of ungraded loans at June 30, 2015 and December 31, 2014 relate to business credit cards. Business credit card loans are subject to automatic charge-off when they become 120 days past due in the same manner as unsecured consumer lines of credit. The remaining balance is comprised of a small amount of commercial mortgage and other commercial real estate loans.

17

Non-PCI loans and leases outstanding at June 30, 2015 and December 31, 2014 by credit quality indicator are provided below:

	June 30, 2015
(Dollars in thousands)	Non-PCI commercial loans and leases
Grade:	Construction  and land development		Commercial mortgage		Other commercial real estate		Commercial  and industrial		Lease financing		Other		Total non-PCI commercial loans and leases
Pass	$	532,286	$	7,613,114	$	285,339	$	2,050,360	$	635,084	$	334,601	$	11,450,784
Special mention	12,385		102,773		267		17,861		4,797		1,859		139,942
Substandard	2,331		141,061		1,043		16,471		3,294		1,929		166,129
Doubtful	—		1,553		—		2,333		325		—		4,211
Ungraded	149		3,089		1,565		112,566		8		—		117,377
Total	$	547,151	$	7,861,590	$	288,214	$	2,199,591	$	643,508	$	338,389	$	11,878,443
	December 31, 2014
	Non-PCI commercial loans and leases
	Construction  and land development		Commercial mortgage		Other commercial real estate		Commercial  and industrial		Lease financing		Other		Total non-PCI commercial loans and leases
Pass	$	474,374	$	7,284,714	$	242,053	$	1,859,415	$	564,319	$	349,111	$	10,773,986
Special mention	13,927		129,247		909		27,683		3,205		1,384		176,355
Substandard	4,720		134,677		1,765		8,878		3,955		3,338		157,333
Doubtful	—		2,366		—		164		365		—		2,895
Ungraded	112		1,944		148		92,794		72		—		95,070
Total	$	493,133	$	7,552,948	$	244,875	$	1,988,934	$	571,916	$	353,833	$	11,205,639

	June 30, 2015
	Non-PCI noncommercial loans and leases
(Dollars in thousands)	Residential mortgage		Revolving mortgage		Construction and land development		Consumer		Total non-PCI noncommercial loans and leases
Current	$	2,559,874	$	2,516,158	$	224,776	$	1,156,148	$	6,456,956
30-59 days past due	22,118		6,174		1,542		5,060		34,894
60-89 days past due	6,039		2,372		469		1,928		10,808
90 days or greater past due	9,033		5,232		493		1,087		15,845
Total	$	2,597,064	$	2,529,936	$	227,280	$	1,164,223	$	6,518,503
	December 31, 2014
	Non-PCI noncommercial loans and leases
	Residential mortgage		Revolving mortgage		Construction and land development		Consumer		Total non-PCI noncommercial loans and leases
Current	$	2,454,797	$	2,542,807	$	202,344	$	1,110,153	$	6,310,101
30-59 days past due	23,288		11,097		1,646		4,577		40,608
60-89 days past due	6,018		2,433		824		1,619		10,894
90 days or greater past due	8,955		5,463		202		1,105		15,725
Total	$	2,493,058	$	2,561,800	$	205,016	$	1,117,454	$	6,377,328

18

PCI loans and leases outstanding at June 30, 2015 and December 31, 2014 by credit quality indicator are provided below:

	June 30, 2015
(Dollars in thousands)	PCI commercial loans
Grade:	Construction and land development		Commercial mortgage		Other commercial real estate		Commercial and industrial		Other		Total PCI commercial loans
Pass	$	18,052	$	324,320	$	8,456	$	11,681	$	796	$	363,305
Special mention	2,506		100,609		13		1,934		—		105,062
Substandard	21,917		172,577		5,549		5,796		1,801		207,640
Doubtful	4,341		13,571		—		307		—		18,219
Ungraded	1,392		428		335		664		—		2,819
Total	$	48,208	$	611,505	$	14,353	$	20,382	$	2,597	$	697,045
	December 31, 2014
	PCI commercial loans
	Construction and land development		Commercial mortgage		Other commercial real estate		Commercial and industrial		Other		Total PCI commercial loans
Pass	$	13,514	$	300,187	$	11,033	$	16,637	$	801	$	342,172
Special mention	6,063		98,724		16,271		4,137		—		125,195
Substandard	53,739		171,920		12,889		6,312		2,278		247,138
Doubtful	2,809		6,302		—		130		—		9,241
Ungraded	1,954		385		—		38		—		2,377
Total	$	78,079	$	577,518	$	40,193	$	27,254	$	3,079	$	726,123

	June 30, 2015
	PCI noncommercial loans
(Dollars in thousands)	Residential mortgage		Revolving mortgage		Construction and land development		Consumer		Total PCI noncommercial loans
Current	$	311,880	$	57,529	$	314	$	2,902	$	372,625
30-59 days past due	11,435		4,434		31		112		16,012
60-89 days past due	3,882		147		—		45		4,074
90 days or greater past due	31,110		2,230		—		143		33,483
Total	$	358,307	$	64,340	$	345	$	3,202	$	426,194
	December 31, 2014
	PCI noncommercial loans
	Residential mortgage		Revolving mortgage		Construction and land development		Consumer		Total PCI noncommercial loans
Current	$	326,589	$	68,548	$	506	$	2,582	$	398,225
30-59 days past due	11,432		1,405		—		147		12,984
60-89 days past due	10,073		345		—		25		10,443
90 days or greater past due	34,246		3,811		406		260		38,723
Total	$	382,340	$	74,109	$	912	$	3,014	$	460,375

19

The aging of the outstanding non-PCI loans and leases, by class, at June 30, 2015 and December 31, 2014 is provided in the table below.

The calculation of days past due begins on the day after payment is due and includes all days through which all required interest or principal has not been paid. Loans and leases 30 days or less past due are considered current as various grace periods allow borrowers to make payments within a stated period after the due date and still remain in compliance with the loan agreement.

	June 30, 2015
(Dollars in thousands)	30-59 days past due		60-89 days past due		90 days or greater		Total past due		Current		Total loans and leases
Non-PCI loans and leases:
Construction and land development - commercial	$	1,632	$	612	$	921	$	3,165	$	543,986	$	547,151
Commercial mortgage	11,903		4,896		14,676		31,475		7,830,115		7,861,590
Other commercial real estate	49		—		188		237		287,977		288,214
Commercial and industrial	6,275		1,010		1,050		8,335		2,191,256		2,199,591
Lease financing	1,161		90		308		1,559		641,949		643,508
Residential mortgage	22,118		6,039		9,033		37,190		2,559,874		2,597,064
Revolving mortgage	6,174		2,372		5,232		13,778		2,516,158		2,529,936
Construction and land development - noncommercial	1,542		469		493		2,504		224,776		227,280
Consumer	5,060		1,928		1,087		8,075		1,156,148		1,164,223
Other	338		—		210		548		337,841		338,389
Total non-PCI loans and leases	$	56,252	$	17,416	$	33,198	$	106,866	$	18,290,080	$	18,396,946
	December 31, 2014
	30-59 days past due		60-89 days past due		90 days or greater		Total past due		Current		Total loans and leases
Non-PCI loans and leases:
Construction and land development - commercial	$	520	$	283	$	330	$	1,133	$	492,000	$	493,133
Commercial mortgage	11,367		4,782		8,061		24,210		7,528,738		7,552,948
Other commercial real estate	206		70		102		378		244,497		244,875
Commercial and industrial	2,843		1,545		378		4,766		1,984,168		1,988,934
Lease financing	1,631		8		2		1,641		570,275		571,916
Residential mortgage	23,288		6,018		8,955		38,261		2,454,797		2,493,058
Revolving mortgage	11,097		2,433		5,463		18,993		2,542,807		2,561,800
Construction and land development - noncommercial	1,646		824		202		2,672		202,344		205,016
Consumer	4,577		1,619		1,105		7,301		1,110,153		1,117,454
Other	146		1,966		—		2,112		351,721		353,833
Total non-PCI loans and leases	$	57,321	$	19,548	$	24,598	$	101,467	$	17,481,500	$	17,582,967

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The recorded investment, by class, in loans and leases on nonaccrual status, and loans and leases greater than 90 days past due and still accruing at June 30, 2015 and December 31, 2014 for non-PCI loans, were as follows:

	June 30, 2015				December 31, 2014
(Dollars in thousands)	Nonaccrual loans and leases		Loans and leases > 90 days and accruing		Nonaccrual loans and leases		Loans and leases > 90 days and accruing
Non-PCI loans and leases:
Construction and land development - commercial	$	1,401	$	102	$	343	$	56
Commercial mortgage	34,140		2,863		24,720		1,003
Other commercial real estate	588		30		619		35
Commercial and industrial	4,158		555		1,741		239
Lease financing	353		37		374		2
Residential mortgage	20,044		671		14,242		3,191
Revolving mortgage	11,765		19		—		5,463
Construction and land development - noncommercial	1		—		—		202
Consumer	852		606		—		1,059
Other	133		77		1,966		—
Total non-PCI loans and leases	$	73,435	$	4,960	$	44,005	$	11,250

Purchased credit-impaired loans (PCI) loans

The following table relates to PCI loans acquired in the CCBT acquisition and summarizes the contractually required payments, which include principal and interest, expected cash flows to be collected, and the fair value of PCI loans and leases at the acquisition date.

(Dollars in thousands)
Contractually required payments	$	247,812
Cash flows expected to be collected	$	207,688
Fair value of loans at acquisition	$	154,496

The recorded fair values of PCI loans acquired in the CCBT acquisition as of the acquisition date were as follows:

(Dollars in thousands)
Commercial:
Construction and land development	$	4,116
Commercial mortgage	129,732
Other commercial real estate	3,202
Commercial and industrial	2,844
Total commercial loans	139,894
Noncommercial:
Residential mortgage	13,251
Consumer	1,351
Total noncommercial loans	14,602
Total PCI loans and leases	$	154,496

The following table provides changes in the carrying value of all purchased credit-impaired loans during the six months ended June 30, 2015 and June 30, 2014:

(Dollars in thousands)	2015			2014
Balance at January 1	$	1,186,498		$	1,029,426
Fair value of acquired loans	154,496			316,327
Accretion	59,182			60,660
Payments received and other changes, net	(276,937		)	(296,480		)
Balance at June 30	$	1,123,239		$	1,109,933
Unpaid principal balance at June 30	$	2,025,905		$	1,888,475

The carrying value of loans on the cost recovery method was $12.2 million at June 30, 2015 and $33.4 million at December 31, 2014. The cost recovery method is applied to loans when the timing of future cash flows is not reasonably estimable due to

21

borrower nonperformance or uncertainty in the ultimate disposition of the asset. The recorded investment of PCI loans on nonaccrual status was $8.7 million and $33.4 million at June 30, 2015 and December 31, 2014, respectively.

For PCI loans, improved cash flow estimates and receipt of unscheduled loan payments result in the reclassification of nonaccretable difference to accretable yield. Accretable yield resulting from the improved ability to estimate future cash flows generally does not represent amounts previously identified as nonaccretable difference.

The following table documents changes to the amount of accretable yield for the first six months of 2015 and 2014.

(Dollars in thousands)	2015			2014
Balance at January 1	$	418,160		$	439,990
Additions from acquisitions	53,192			84,295
Accretion	(59,182		)	(60,660		)
Reclassifications from nonaccretable difference	12,322			9,992
Changes in expected cash flows that do not affect nonaccretable difference	(45,391		)	(17,126		)
Balance at June 30	$	379,101		$	456,491

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NOTE E - ALLOWANCE FOR LOAN AND LEASE LOSSES ("ALLL")

The following tables present the activity in the ALLL for non-PCI loan and lease losses by loan class for the three months ended June 30, 2015 and June 30, 2014:

	Three months ended June 30, 2015
(Dollars in thousands)	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Lease financing			Other			Residential mortgage			Revolving mortgage			Construction and land development - non- commercial			Consumer			Total
Non-PCI Loans
Allowance for loan and lease losses:
Balance at April 1	$	13,108		$	82,038		$	1,031		$	36,954		$	4,293		$	2,981		$	11,328		$	17,529		$	1,056		$	17,616		$	187,934
Provision	88			(1,878		)	(227		)	4,547			408			(1,824		)	1,162			31			74			6,613			8,994
Charge-offs	(221		)	(47		)	(9		)	(2,318		)	(6		)	—			(90		)	(616		)	—			(2,743		)	(6,050		)
Recoveries	104			323			9			209			11			31			305			346			3			630			1,971
Balance at June 30	$	13,079		$	80,436		$	804		$	39,392		$	4,706		$	1,188		$	12,705		$	17,290		$	1,133		$	22,116		$	192,849
	Three months ended June 30, 2014
	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Lease financing			Other			Residential mortgage			Revolving mortgage			Construction and land development - non- commercial			Consumer			Total
Balance at April 1	$	12,246		$	94,217		$	945		$	24,021		$	4,183		$	454		$	10,944		$	16,408		$	1,249		$	13,282		$	177,949
Provision	(1,135		)	(1,961		)	(155		)	3,033			176			163			(1,557		)	1,252			(323		)	2,737			2,230
Charge-offs	—			(272		)	—			(531		)	(14		)	(5		)	(234		)	(1,064		)	(23		)	(2,628		)	(4,771		)
Recoveries	5			145			16			386			20			—			148			201			2			584			1,507
Balance at June 30	$	11,116		$	92,129		$	806		$	26,909		$	4,365		$	612		$	9,301		$	16,797		$	905		$	13,975		$	176,915
	Six months ended June 30, 2015
	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and  industrial			Lease financing			Other			Residential mortgage			Revolving mortgage			Construction and land development - non- commercial			Consumer			Total
Balance at January 1	$	11,961		$	85,189		$	732		$	30,727		$	4,286		$	3,184		$	10,661		$	18,650		$	892		$	16,555		$	182,837
Provision	1,191			(5,557		)	231			12,093			419			(2,042		)	1,975			(431		)	192			9,579			17,650
Charge-offs	(239		)	(280		)	(178		)	(4,031		)	(21		)	—			(374		)	(1,409		)	(22		)	(5,526		)	(12,080		)
Recoveries	166			1,084			19			603			22			46			443			480			71			1,508			4,442
Balance at June 30	$	13,079		$	80,436		$	804		$	39,392		$	4,706		$	1,188		$	12,705		$	17,290		$	1,133		$	22,116		$	192,849
	Six months ended June 30, 2014
	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and  industrial			Lease financing			Other			Residential mortgage			Revolving mortgage			Construction and land development - non- commercial			Consumer			Total
Balance at January 1	$	10,335		$	100,257		$	1,009		$	22,362		$	4,749		$	190		$	10,511		$	16,239		$	681		$	13,541		$	179,874
Provision	750			(8,940		)	(229		)	5,009			(348		)	435			(948		)	2,605			254			4,012			2,600
Charge-offs	—			(440		)	—			(1,027		)	(72		)	(13		)	(418		)	(2,324		)	(94		)	(4,805		)	(9,193		)
Recoveries	31			1,252			26			565			36			—			156			277			64			1,227			3,634
Balance at June 30	$	11,116		$	92,129		$	806		$	26,909		$	4,365		$	612		$	9,301		$	16,797		$	905		$	13,975		$	176,915

The provision expense for commercial and industrial loans totaled $4.5 million and $12.1 million for the three and six months ended June 30, 2015, respectively, compared to $3.0 million and $5.0 million for the same respective periods of 2014. Loan growth during 2015 was higher than the prior year causing the increases in provision expense.

The other loan class had a net provision credit of $1.8 million and $2.0 million for the three and six months ended June 30, 2015, respectively, compared to provision expense of $163 thousand and $435 thousand for the same respective periods of 2014. The current net provision credits were the result of the reversal of previously identified impairment on individually impaired loans due to credit quality improvement.

The provision for the residential mortgage loan class totaled $1.2 million and $2.0 million for the three and six months ended June 30, 2015, respectively, compared to net provision credits of $1.6 million and $948 thousand for the same respective periods of 2014. The increases in the provision expense were attributable to newly originated non-PCI loans and stable credit quality in the current periods. In 2014, improved credit quality trends resulted in a release of reserves for the three and six months ended June 30, 2014.

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Revolving mortgage loans had net provision expense of $31 thousand and a net provision credit of $431 thousand for the three and six months ended June 30, 2015, respectively, compared to net provision expense of $1.3 million and $2.6 million for the three and six months ended June 30, 2014, respectively. The decline in provision expense for both periods was due to lower net charge-offs and improved credit quality trends within the loan class.

The provision for consumer loans totaled $6.6 million and $9.6 million for the three and six months ended June 30, 2015, respectively. Provision expense for the three and six month periods ended June 30, 2014 totaled $2.7 million and $4.0 million, respectively. The increase in provision expense was primarily due to higher loan growth in newly originated non-PCI loans in 2015.

The following tables present the allowance for non-PCI loan losses and the recorded investment in loans, by loan class, based on impairment method as of June 30, 2015 and December 31, 2014:

	June 30, 2015
(Dollars in thousands)	Construction and land development - commercial		Commercial mortgage		Other commercial real estate		Commercial and industrial		Lease financing		Other		Residential mortgage		Revolving mortgage		Construction and land development - non-commercial		Consumer		Total
Allowance for loan and lease losses:
ALLL for loans and leases individually evaluated for impairment	$	445	$	7,744	$	101	$	1,771	$	146	$	17	$	1,623	$	168	$	—	$	577	$	12,592
ALLL for loans and leases collectively evaluated for impairment	12,634		72,692		703		37,621		4,560		1,171		11,082		17,122		1,133		21,539		180,257
Total allowance for loan and lease losses	$	13,079	$	80,436	$	804	$	39,392	$	4,706	$	1,188	$	12,705	$	17,290	$	1,133	$	22,116	$	192,849
Loans and leases:
Loans and leases individually evaluated for impairment	$	3,092	$	83,555	$	401	$	12,416	$	1,448	$	1,732	$	16,424	$	3,961	$	860	$	1,117	$	125,006
Loans and leases collectively evaluated for impairment	544,059		7,778,035		287,813		2,187,175		642,060		336,657		2,580,640		2,525,975		226,420		1,163,106		18,271,940
Total loan and leases	$	547,151	$	7,861,590	$	288,214	$	2,199,591	$	643,508	$	338,389	$	2,597,064	$	2,529,936	$	227,280	$	1,164,223	$	18,396,946
	December 31, 2014
(Dollars in thousands)	Construction and land development - commercial		Commercial mortgage		Other commercial real estate		Commercial and industrial		Lease financing		Other		Residential mortgage		Revolving mortgage		Construction and land development - non-commercial		Consumer		Total
Allowance for loan and lease losses:
ALLL for loans and leases individually evaluated for impairment	$	92	$	8,610	$	112	$	1,743	$	150	$	1,972	$	1,360	$	1,052	$	71	$	555	$	15,717
ALLL for loans and leases collectively evaluated for impairment	11,869		76,579		620		28,984		4,136		1,212		9,301		17,598		821		16,000		167,120
Total allowance for loan and lease losses	$	11,961	$	85,189	$	732	$	30,727	$	4,286	$	3,184	$	10,661	$	18,650	$	892	$	16,555	$	182,837
Loans and leases:
Loans and leases individually evaluated for impairment	$	1,620	$	82,803	$	584	$	11,040	$	623	$	2,000	$	14,913	$	3,675	$	1,340	$	995	$	119,593
Loans and leases collectively evaluated for impairment	491,513		7,470,145		244,291		1,977,894		571,293		351,833		2,478,145		2,558,125		203,676		1,116,459		17,463,374
Total loan and leases	$	493,133	$	7,552,948	$	244,875	$	1,988,934	$	571,916	$	353,833	$	2,493,058	$	2,561,800	$	205,016	$	1,117,454	$	17,582,967

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The following tables show the activity in the allowance for PCI loan and lease losses by loan class for the three months and six months ended June 30, 2015 and June 30, 2014.

	Three months ended June 30, 2015
(Dollars in thousands)	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Residential mortgage			Revolving mortgage			Construction and land development - noncommercial			Consumer and other			Total
PCI Loans
Allowance for loan and lease losses:
Balance at April 1	$	341		$	8,876		$	194		$	11		$	4,872		$	3,271		$	31		$	23		$	17,619
Provision	325			(2,065		)	(125		)	399			1,165			(1,112		)	(31		)	169			(1,275		)
Charge-offs	(97		)	(383		)	—			(87		)	(195		)	(108		)	—			(6		)	(876		)
Recoveries	—			—			—			—			—			—			—			—			—
Balance at June 30	$	569		$	6,428		$	69		$	323		$	5,842		$	2,051		$	—		$	186		$	15,468
	Three months ended June 30, 2014
(Dollars in thousands)	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Residential mortgage			Revolving mortgage			Construction and land development - noncommercial			Consumer and other			Total
Balance at April 1	$	4,476		$	23,003		$	1,204		$	2,256		$	9,764		$	3,493		$	583		$	214		$	44,993
Provision	(77		)	(1,185		)	(797		)	(1,729		)	(2,176		)	(3,031		)	(583		)	49			(9,529		)
Charge-offs	(596		)	(4,503		)	—			(152		)	(495		)	(381		)	—			(6		)	(6,133		)
Recoveries	—			—			—			—			—			—			—			—			—
Balance at June 30	$	3,803		$	17,315		$	407		$	375		$	7,093		$	81		$	—		$	257		$	29,331
	Six months ended June 30, 2015
(Dollars in thousands)	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Residential mortgage			Revolving mortgage			Construction and land development - noncommercial			Consumer and other			Total
Balance at January 1	$	150		$	10,135		$	75		$	1,240		$	5,820		$	3,999		$	183		$	27		$	21,629
Provision	516			(2,990		)	(6		)	(632		)	302			(1,767		)	(183		)	621			(4,139		)
Charge-offs	(97		)	(717		)	—			(285		)	(280		)	(181		)	—			(462		)	(2,022		)
Recoveries	—			—			—			—			—			—			—			—			—
Balance at June 30	$	569		$	6,428		$	69		$	323		$	5,842		$	2,051		$	—		$	186		$	15,468
	Six months ended June 30, 2014
(Dollars in thousands)	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Residential mortgage			Revolving mortgage			Construction and land development - noncommercial			Consumer and other			Total
Balance at January 1	$	1,320		$	29,906		$	1,354		$	5,275		$	11,802		$	2,959		$	682		$	222		$	53,520
Provision	3,278			(4,571		)	(947		)	(2,065		)	(4,476		)	(2,397		)	(682		)	58			(11,802		)
Charge-offs	(795		)	(8,020		)	—			(2,835		)	(233		)	(481		)	—			(23		)	(12,387		)
Recoveries	—			—			—			—			—			—			—			—			—
Balance at June 30	$	3,803		$	17,315		$	407		$	375		$	7,093		$	81		$	—		$	257		$	29,331

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The following tables show the ending balances of PCI loans and leases and related allowance by class of loans as of June 30, 2015 and December 31, 2014:

	June 30, 2015
(Dollars in thousands)	Construction and land development - commercial		Commercial mortgage		Other commercial real estate		Commercial and industrial		Residential mortgage		Revolving mortgage		Construction and land development - noncommercial		Consumer and other		Total
ALLL for loans and leases acquired with deteriorated credit quality	$	569	$	6,428	$	69	$	323	$	5,842	$	2,051	$	—	$	186	$	15,468
Loans and leases acquired with deteriorated credit quality	48,208		611,505		14,353		20,382		358,307		64,340		345		5,799		1,123,239
	December 31, 2014
(Dollars in thousands)	Construction and land development - commercial		Commercial mortgage		Other commercial real estate		Commercial and industrial		Residential mortgage		Revolving mortgage		Construction and land development - noncommercial		Consumer and other		Total
ALLL for loans and leases acquired with deteriorated credit quality	$	150	$	10,135	$	75	$	1,240	$	5,820	$	3,999	$	183	$	27	$	21,629
Loans and leases acquired with deteriorated credit quality	78,079		577,518		40,193		27,254		382,340		74,109		912		6,093		1,186,498

As of June 30, 2015, and December 31, 2014, $570.6 million and $285.6 million, respectively, in PCI loans experienced an adverse change in expected cash flows since the date of acquisition. The corresponding valuation reserve was $15.5 million and $21.6 million, respectively.

26

The following tables provide information on non-PCI impaired loans and leases, exclusive of loans and leases evaluated collectively as a homogenous group, as of June 30, 2015 and December 31, 2014 including interest income recognized in the period during which the loans and leases were considered impaired.

	June 30, 2015
(Dollars in thousands)	With a recorded allowance		With no recorded allowance		Total		Unpaid principal balance		Related allowance recorded
Non-PCI impaired loans and leases:
Construction and land development - commercial	$	2,620	$	472	$	3,092	$	8,514	$	445
Commercial mortgage	53,733		29,822		83,555		89,251		7,744
Other commercial real estate	101		300		401		848		101
Commercial and industrial	9,162		3,254		12,416		15,816		1,771
Lease financing	1,177		271		1,448		1,448		146
Other	1,732		—		1,732		1,732		17
Residential mortgage	8,760		7,664		16,424		17,118		1,623
Revolving mortgage	1,458		2,503		3,961		5,403		168
Construction and land development - noncommercial	—		860		860		860		—
Consumer	994		123		1,117		1,194		577
Total non-PCI impaired loans and leases	$	79,737	$	45,269	$	125,006	$	142,184	$	12,592
	December 31, 2014
(Dollars in thousands)	With a recorded allowance		With no recorded allowance		Total		Unpaid principal balance		Related allowance recorded
Non-PCI impaired loans and leases:
Construction and land development - commercial	$	996	$	624	$	1,620	$	6,945	$	92
Commercial mortgage	57,324		25,479		82,803		87,702		8,610
Other commercial real estate	112		472		584		913		112
Commercial and industrial	10,319		721		11,040		12,197		1,743
Lease financing	319		304		623		623		150
Other	2,000		—		2,000		2,000		1,972
Residential mortgage	10,198		4,715		14,913		15,746		1,360
Revolving mortgage	3,675		—		3,675		4,933		1,052
Construction and land development - noncommercial	1,077		263		1,340		1,340		71
Consumer	987		8		995		1,067		555
Total non-PCI impaired loans and leases	$	87,007	$	32,586	$	119,593	$	133,466	$	15,717

27

The following tables show the average non-PCI impaired loan balance and the interest income recognized by loan class for the three and six months ended June 30, 2015 and June 30, 2014:

	Three months ended June 30, 2015				Three months ended June 30, 2014
(Dollars in thousands)	Average balance		Interest income recognized		Average balance		Interest income recognized
Non-PCI impaired loans and leases:
Construction and land development - commercial	$	3,134	$	35	$	2,592	$	28
Commercial mortgage	86,253		840		87,687		799
Other commercial real estate	403		—		1,981		7
Commercial and industrial	14,088		146		11,208		113
Lease financing	1,463		16		384		4
Other	1,835		—		48		1
Residential mortgage	16,819		135		15,592		107
Revolving mortgage	4,015		23		3,779		29
Construction and land development - noncommercial	779		9		2,061		26
Consumer	1,154		20		986		17
Total non-PCI impaired loans and leases	$	129,943	$	1,224	$	126,318	$	1,131
	Six months ended June 30, 2015				Six months ended June 30, 2014
(Dollars in thousands)	Average balance		Interest income recognized		Average balance		Interest income recognized
Non-PCI impaired loans and leases:
Construction and land development - commercial	$	3,093	$	70	$	1,413	$	31
Commercial mortgage	83,115		1,602		84,359		1,716
Other commercial real estate	477		1		2,731		60
Commercial and industrial	12,220		249		15,690		353
Lease financing	1,527		34		732		21
Other	1,913		—		24		1
Residential mortgage	16,092		260		15,824		284
Revolving mortgage	3,501		39		4,262		76
Construction and land development - noncommercial	719		16		1,946		50
Consumer	1,088		39		2,058		51
Total non-PCI impaired loans and leases	$	123,745	$	2,310	$	129,039	$	2,643

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Troubled Debt Restructurings

BancShares accounts for certain loan modifications or restructurings as troubled debt restructurings ("TDRs"). In general, the modification or restructuring of a loan is considered a TDR if, for economic reasons or legal reasons related to a borrower's financial difficulties, a concession is granted to the borrower that creditors would not otherwise grant. Concessions may relate to the contractual interest rate, maturity date, payment structure or other actions. In accordance with GAAP, acquired loans accounted for under ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality, are not initially considered to be TDRs, but can be classified as such if a modification is made subsequent to acquisition. Subsequent modifications of a PCI loan accounted for in a pool that would otherwise meet the definition of a TDR is not reported, or accounted for, as a TDR since pooled PCI loans are excluded from the scope of TDR accounting.

The following table provides a summary of total TDRs by accrual status.

	June 30, 2015						December 31, 2014
(Dollars in thousands)	Accruing		Nonaccruing		Total		Accruing		Nonaccruing		Total
Commercial loans
Construction and land development - commercial	$	3,500	$	633	$	4,133	$	2,591	$	446	$	3,037
Commercial mortgage	83,059		12,588		95,647		92,184		8,937		101,121
Other commercial real estate	1,898		401		2,299		2,374		449		2,823
Commercial and industrial	8,689		2,970		11,659		9,864		664		10,528
Lease	1,122		325		1,447		258		365		623
Other	—		—		—		34		—		34
Total commercial TDRs	98,268		16,917		115,185		107,305		10,861		118,166
Noncommercial
Residential mortgage	23,268		5,663		28,931		22,597		4,655		27,252
Revolving mortgage	2,412		1,361		3,773		3,675		—		3,675
Construction and land development - noncommercial	860		—		860		1,391		—		1,391
Consumer and other	2,774		54		2,828		995		—		995
Total noncommercial TDRs	29,314		7,078		36,392		28,658		4,655		33,313
Total TDRs	$	127,582	$	23,995	$	151,577	$	135,963	$	15,516	$	151,479

The majority of TDRs are included in the special mention, substandard or doubtful grading categories. When a restructured loan subsequently defaults, it is evaluated and downgraded if appropriate. The more severely graded the loan, the lower the estimated expected cash flows and the greater the allowance recorded. Further, TDRs over $500,000 and graded substandard or lower are evaluated individually for impairment through a review of collateral values.

The following table shows the accrual status of non-PCI and PCI TDRs.

(Dollars in thousands)	June 30, 2015		December 31, 2014
Accruing TDRs:
PCI	$	41,355	$	44,647
Non-PCI	86,227		91,316
Total accruing TDRs	127,582		135,963
Nonaccruing TDRs:
PCI	1,975		2,225
Non-PCI	22,020		13,291
Total nonaccruing TDRs	23,995		15,516
All TDRs:
PCI	43,330		46,872
Non-PCI	108,247		104,607
Total TDRs	$	151,577	$	151,479

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The following tables provide the types of TDRs made during the three and six months ended June 30, 2015 and June 30, 2014, as well as a summary of loans that were modified as a TDR during the twelve months ended June 30, 2015 and June 30, 2014 that subsequently defaulted during the three and six months ended June 30, 2015 and June 30, 2014. BancShares defines payment default as movement of the TDR to nonaccrual status, which is generally 90 days past due for TDRs, foreclosure or charge-off, whichever occurs first.

	Three months ended June 30, 2015						Three months ended June 30, 2014
	All restructurings			Restructurings with payment default			All restructurings			Restructurings with payment default
(Dollars in thousands)	Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end
Non-PCI loans and leases
Interest only period provided
Commercial mortgage	2	$	69	—	$	—	2	$	720	1	$	494
Other	—	—		—	—		1	46		—	—
Total interest only	2	69		—	—		3	766		1	494
Loan term extension
Construction and land development - commercial	—	—		—	—		2	191		—	—
Commercial mortgage	2	840		—	—		—	—		—	—
Commercial and industrial	—	—		—	—		4	2,069		—	—
Residential mortgage	—	—		—	—		6	260		—	—
Consumer	—	—		—	—		1	10		—	—
Total loan term extension	2	840		—	—		13	2,530		—	—
Below market interest rate
Construction and land development - commercial	3	251		—	—		—	—		—	—
Commercial mortgage	6	1,510		—	—		3	1,991		5	1,563
Commercial and industrial	4	521		1	142		—	—		—	—
Other commercial real estate	—	—		—	—		1	365		—	—
Residential mortgage	15	646		1	15		10	427		—	—
Consumer	3	40		—	—		—	—		—	—
Total below market interest rate	31	2,968		2	157		14	2,783		5	1,563
Discharged from bankruptcy
Commercial and industrial	1	17		—	—		—	—		—	—
Residential mortgage	2	35		—	—		1	13		—	—
Revolving mortgage	7	203		3	60		2	39		—	—
Consumer	3	45		—	—		2	8		—	—
Total discharged from bankruptcy	13	300		3	60		5	60		—	—
Total non-PCI restructurings	48	$	4,177	5	$	217	35	$	6,139	6	$	2,057

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	Six months ended June 30, 2015						Six months ended June 30, 2014
	All restructurings			Restructurings with payment default			All restructurings			Restructurings with payment default
(Dollars in thousands)	Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end
Non-PCI loans and leases
Interest only period provided
Commercial mortgage	2	$	69	—	$	—	6	$	2,600	2	$	708
Commercial and industrial	1	1,872		1	1,872		1	196		—	—
Lease financing	—	—		—	—		2	144		—	—
Other	—	—		—	—		1	46		—	—
Total interest only	3	1,941		1	1,872		10	2,986		2	708
Loan term extension
Construction and land development - commercial	1	212		1	212		2	191		—	—
Commercial mortgage	5	1,371		—	—		5	2,584		—	—
Commercial and industrial	—	—		—	—		4	2,069		—	—
Lease financing	—	—		—	—		2	224		—	—
Residential mortgage	—	—		—	—		11	593		—	—
Revolving mortgage	1	9		—	—		—	—		—	—
Consumer	1	5		—	—		3	44		—	—
Total loan term extension	8	1,597		1	212		27	5,705		—	—
Below market interest rate
Construction and land development - commercial	5	296		—	—		10	363		—	—
Commercial mortgage	16	5,226		1	498		15	6,591		6	2,011
Commercial and industrial	7	673		1	142		6	143		—	—
Other commercial real estate	—	—		—	—		1	365		—	—
Residential mortgage	42	1,698		3	58		18	820		1	140
Revolving mortgage	3	63		—	—		5	274		—	—
Construction & land development - noncommercial	2	253		—	—		8	1,248		—	—
Consumer	7	85		—	—		—	—		—	—
Other	1	1,732		—	—		—	—		—	—
Total below market interest rate	83	10,026		5	698		63	9,804		7	2,151
Discharged from bankruptcy
Commercial mortgage	1	622		—	—		1	983		—	—
Commercial and industrial	1	17		—	—		—	—		—	—
Residential mortgage	8	434		—	—		8	649		2	85
Revolving mortgage	16	632		5	158		7	442		—	—
Construction & land development - noncommercial	—	—		—	—		1	62		—	—
Consumer	4	48		—	—		3	26		—	—
Total discharged from bankruptcy	30	1,753		5	158		20	2,162		2	85
Total non-PCI restructurings	124	$	15,317	12	$	2,940	120	$	20,657	11	$	2,944

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	Three months ended June 30, 2015						Three months ended June 30, 2014
	All restructurings			Restructurings with payment default			All restructurings			Restructurings with payment default
(Dollars in thousands)	Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end
PCI loans
Loan term extension
Residential mortgage	—	$	—	—	$	—	1	$	53	1	$	53
Total loan term extension	—	—		—	—		1	53		1	53
Below market interest rate
Construction and land development - commercial	—	—		—	—		1	273		—	—
Commercial mortgage	—	—		—	—		5	1,811		—	—
Commercial and industrial	—	—		—	—		1	23		—	—
Residential mortgage	1	60		—	—		23	2,963		1	23
Total below market interest rate	1	60		—	—		30	5,070		1	23
Discharged from bankruptcy
Residential mortgage	—	—		—	—		26	1,828		2	94
Total discharged from bankruptcy	—	—		—	—		26	1,828		2	94
Total PCI restructurings	1	$	60	—	$	—	31	$	5,123	2	$	76

	Six months ended June 30, 2015						Six months ended June 30, 2014
	All restructurings			Restructurings with payment default			All restructurings			Restructurings with payment default
(Dollars in thousands)	Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end
PCI loans
Interest only period provided
Commercial mortgage	—	$	—	—	$	—	2	$	—	2	$	44
Total interest only	—	—		—	—		2	—		2	44
Loan term extension
Construction and land development - commercial	—	—		—	—		1	276		—	—
Residential mortgage	—	—		—	—		1	53		1	53
Total loan term extension	—	—		—	—		2	329		1	53
Below market interest rate
Construction and land development - commercial	—	—		—	—		2	308		—	—
Commercial mortgage	—	—		—	—		9	5,060		1	39
Commercial and industrial	—	—		—	—		1	23		—	—
Residential mortgage	8	545		—	—		25	3,066		2	23
Total below market interest rate	8	545		—	—		37	8,457		3	62
Discharged from bankruptcy
Residential mortgage	1	78		—	—		26	1,828		2	94
Total discharged from bankruptcy	1	78		—	—		26	1,828		2	94
Total PCI restructurings	9	$	623	—	$	—	67	$	10,614	8	$	253

For the three and six months ended June 30, 2015 and June 30, 2014, the recorded investment in TDRs subsequent to modification was not materially impacted by the modification since forgiveness of principal is not a restructuring option frequently used by BancShares.

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NOTE F - OTHER REAL ESTATE OWNED (OREO)

The following table explains changes in other real estate owned during the six months ended June 30, 2015 and June 30, 2014.

(Dollars in thousands)	Covered			Noncovered			Total
Balance at December 31, 2013	$	47,081		$	36,898		$	83,979
Additions	16,186			8,894			25,080
Additions acquired in the 1st Financial merger	—			11,591			11,591
Sales	(18,522		)	(19,150		)	(37,672		)
Writedowns	(4,609		)	(3,082		)	(7,691		)
Balance at June 30, 2014	$	40,136		$	35,151		$	75,287
Balance at December 31, 2014	$	22,982		$	70,454		$	93,436
Additions	5,833			24,558			30,391
Sales	(12,962		)	(34,324		)	(47,286		)
Writedowns	(857		)	(2,436		)	(3,293		)
Transfers (1)	(2,106		)	2,106			—
Balance at June 30, 2015	$	12,890		$	60,358		$	73,248

⁽¹⁾ Transfers include OREO balances associated with expired loss share agreements.

At June 30, 2015 and December 31, 2014, BancShares had $17.6 million and $29.0 million, respectively, of foreclosed residential real estate property in OREO. The recorded investment in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure totaled $18.1 million and $24.8 million at June 30, 2015 and December 31, 2014, respectively.

NOTE G - FDIC LOSS SHARE RECEIVABLE

The following table provides changes in the receivable from the FDIC for the three and six months ended June 30, 2015 and June 30, 2014.

	Three months ended June 30						Six months ended June 30
(Dollars in thousands)	2015			2014			2015			2014
Beginning balance	$	21,340		$	74,784		$	28,701		$	93,397
Amortization	(1,461		)	(12,922		)	(6,492		)	(30,667		)
Net cash payments to FDIC	5,128			859			10,890			4,350
Post-acquisition adjustments	(19,199		)	(12,762		)	(27,291		)	(17,121		)
Ending balance	$	5,808		$	49,959		$	5,808		$	49,959

The receivable from the FDIC for loss share agreements is measured separately from the related covered assets and is recorded at fair value at the acquisition date using projected cash flows based on the expected reimbursements for losses and the applicable loss share percentages. See Note Lfor information related to FCB's recorded payable to the FDIC for loss share agreements.

Amortization reflects changes in the FDIC loss share receivable due to improvements in expected cash flows that are being recognized over the remaining term of the loss share agreement. Cash payments to FDIC represent the net impact of loss share loan recoveries, charge-offs and related expenses as calculated and reported in FDIC loss share certificates. Post-acquisition adjustments represent the net change in loss estimates related to acquired loans and covered OREO as a result of changes in expected cash flows and the ALLL related to those covered loans. For loans covered by loss share agreements, subsequent decreases in the amount expected to be collected from the borrower or collateral liquidation result in a provision for loan and lease losses, an increase in the ALLL and a proportional adjustment to the receivable from the FDIC for the estimated amount to be reimbursed. Subsequent increases in the amount expected to be collected from the borrower or collateral liquidation result in the reversal of some or all previously recorded provision for loan and lease losses, a decrease in the related ALLL and a proportional adjustment to the receivable from the FDIC, or prospective adjustment to the accretable yield and the related receivable from the FDIC if no provision for loan and lease losses had been recorded previously. The loss share agreements for FRB and non-single family residential loans acquired from SAB expired at the beginning of the second quarter of 2015. The loss share agreement for non-single family residential loans for Williamsburg First National Bank will expire at the beginning of the fourth quarter of 2015.

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NOTE H - MORTGAGE SERVICING RIGHTS

Our portfolio of residential mortgage loans serviced for third parties was $2.00 billion and $1.95 billion as of June 30, 2015 and December 31, 2014, respectively.  These loans were originated by BancShares and sold to third parties on a non-recourse basis with servicing rights retained.  These retained servicing rights are recorded as a servicing asset on the Consolidated Balance Sheets and are initially recorded at fair value.

The activity of the servicing asset for the three and six months ended June 30, 2015 and 2014 is presented in the following table:

	Three months ended June 30					Six months ended June 30
(Dollars in thousands)	2015			2014		2015			2014
Beginning balance	$	16,436		$	—	$	16,688		$	16
Servicing rights originated	1,927			—		2,589			—
Amortization	(1,110		)	—		(1,962		)	(164		)
Servicing rights acquired in the 1st Financial merger	—			—		—			148
Valuation allowance reversal	$	909		$	—	$	847		$	—
Ending balance	$	18,162		$	—	$	18,162		$	—

The following table presents the activity in the servicing asset valuation allowance for the three and six months ended June 30, 2015 and 2014:

	Three months ended June 30					Six months ended June 30
(Dollars in thousands)	2015			2014		2015			2014
Beginning balance	$	912		$	—	$	850		$	—
Valuation allowance reversal	(909		)	—		(847		)	—
Ending balance	$	3		$	—	$	3		$	—

As of June 30, 2015, the carrying value of BancShares' mortgage servicing rights was $18.2 million. Contractually specified mortgage servicing fees, late fees, and ancillary fees earned for the three and six months ended June 30, 2015 were $4.2 million and $6.1 million, respectively, and are included in mortgage income in the Consolidated Statements of Income. Mortgage servicing fees, late fees or ancillary fees earned for the three and six months ended June 30, 2014 were insignificant.

The amortization expense related to mortgage servicing rights, included as a reduction of mortgage income in the Consolidated Statements of Income, was $1.1 million for the three months ended June 30, 2015. For the six months ended June 30, 2015 and 2014 the amortization expense related to mortgage servicing rights was $2.0 million and $164 thousand, respectively. Amortization expense included a reversal of $909 thousand and $847 thousand for the three and six months ended June 30, 2015. No net valuation allowance impairment was recorded for the three and six months ended June 30, 2014.

Valuation of mortgage servicing rights is performed using a pooling methodology. Similar loans are pooled together and evaluated on a discounted earnings basis to determine the present value of future earnings. Key economic assumptions used to value mortgage servicing rights as of June 30, 2015 and December 31, 2014 were as follows:

	June 30, 2015			December 31, 2014
Discount rate - conventional fixed loans	7.35		%	7.20		%
Discount rate - all loans excluding conventional fixed loans	9.35		%	9.20		%
Weighted average constant prepayment rate	13.24		%	14.25		%
Weighted average cost to service a loan	$	56.61		$	56.02

NOTE I - REPURCHASE AGREEMENTS

We utilize securities sold under agreements to repurchase to facilitate the needs of our customers and secure long-term funding needs. Repurchase agreements are transactions whereby we offer to sell to a counterparty an undivided interest in an eligible security at an agreed upon purchase price, and which obligates BancShares to repurchase the security on an agreed upon date at an agreed upon repurchase price plus interest at an agreed upon rate. Securities sold under agreements to repurchase are recorded at the amount of cash received in connection with the transaction and are reflected as short-term borrowings on the Consolidated Balance Sheets.

We monitor collateral levels on a continuous basis and maintain records of each transaction specifically describing the applicable security and the counterparty’s fractional interest in that security, and we segregate the security from its general assets in accordance with regulations governing custodial holdings of securities. The primary risk with our repurchase agreements is market risk

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associated with the investments securing the transactions, as we may be required to provide additional collateral based on fair value changes of the underlying investments. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents. The carrying value of available for sale investment securities pledged as collateral under repurchase agreements totaled $869.0 million and $418.3 million at June 30, 2015 and December 31, 2014, respectively.

The remaining contractual maturity of the securities sold under agreements to repurchase by class of collateral pledged included in short-term borrowings in the Consolidated Balance Sheets as of June 30, 2015 and December 31, 2014 is presented in the following tables.

	June 30, 2015
	Remaining Contractual Maturity of the Agreements
(Dollars in thousands)	Overnight and continuous		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
Repurchase agreements
U.S. Treasury	$	710,674	$	—	$	—	$	23,092	$	733,766
Government agency	—		—		—		6,908		6,908
Total borrowings	$	710,674	$	—	$	—	$	30,000	$	740,674
Gross amount of recognized liabilities for repurchase agreements									$	740,674
	December 31, 2014
	Remaining Contractual Maturity of the Agreements
	Overnight and continuous		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
Repurchase agreements
U.S. Treasury	$	162,924	$	—	$	—	$	23,086	$	186,010
Government agency	—		—		—		6,914		6,914
Mortgage-backed securities	131,501		—		—		—		131,501
Total borrowings	$	294,425	$	—	$	—	$	30,000	$	324,425
Gross amount of recognized liabilities for repurchase agreements									$	324,425

NOTE J - ESTIMATED FAIR VALUES

Fair value estimates are intended to represent the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. Where there is no active market for a financial instrument, BancShares has made estimates using discounted cash flows or other valuation techniques. Inputs to these valuation methods are subjective in nature, involve uncertainties and require significant judgment and therefore cannot be determined with precision. Accordingly, the derived fair value estimates presented below are not necessarily indicative of the amounts BancShares could realize in a current market exchange.

ASC 820, Fair Value Measurements and Disclosures, indicates that assets and liabilities are recorded at fair value according to a fair value hierarchy comprised of three levels. The levels are based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. The level within the fair value hierarchy for an asset or liability is based on the highest level of input that is significant to the fair value measurement (with level 1 considered highest and level 3 considered lowest). A brief description of each level follows:

• Level 1 values are based on quoted prices for identical instruments in active markets.

• Level 2 values are based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market.

• Level 3 values are generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates that market participants would use in pricing the asset or liability. Valuation techniques include the use of discounted cash flow models and similar techniques.

Valuation adjustments, such as those pertaining to counterparty and BancShares' own credit quality and liquidity, may be necessary to ensure that assets and liabilities are recorded at fair value. Credit valuation adjustments are made when market pricing does not accurately reflect the counterparty's credit quality. As determined by BancShares management, liquidity

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valuation adjustments may be made to the fair value of certain assets to reflect the uncertainty in the pricing and trading of the instruments when we are unable to observe recent market transactions for identical or similar instruments.

BancShares management reviews any changes to its valuation methodologies to ensure they are appropriate and justified, and refines valuation methodologies as more market-based data becomes available. Transfers between levels of the fair value hierarchy are recognized at the end of the reporting period.

The methodologies used to estimate the fair value of financial assets and financial liabilities are discussed below:

Investment securities available for sale. U.S.Treasury, government agency, mortgage-backed securities, municipal securities and trust preferred securities are generally measured at fair value using a third party pricing service or recent comparable market transactions in similar or identical securities and are classified as level 2 instruments.

Loans held for sale. Certain residential real estate loans are originated to be sold to investors, which are carried at fair value as BancShares elected the fair value option on loans held for sale in 2014. The fair value is based on quoted market prices for similar types of loans. Accordingly, the inputs used to calculate fair value of residential real estate loans held for sale are classified as level 2 inputs.

Net loans and leases (PCI and Non-PCI). Fair value is estimated based on discounted future cash flows using the current interest rates at which loans with similar terms would be made to borrowers of similar credit quality. An additional valuation adjustment is made for liquidity. The inputs used in the fair value measurements for loans and leases are considered level 3 inputs.

FHLB stock. The carrying amount of FHLB stock is a reasonable estimate of fair value as these securities are not readily marketable and are evaluated for impairment based on the ultimate recoverability of the par value. BancShares considers positive and negative evidence, including the profitability and asset quality of the issuer, dividend payment history and recent redemption experience, when determining the ultimate recoverability of the par value. BancShares believes its investment in FHLB stock is ultimately recoverable at par. The inputs used in the fair value measurement for the FHLB stock are considered level 2 inputs.

Preferred stock issued under the TARP program and other acquired financial assets. Preferred securities issued under the Troubled Asset Recovery Program are recorded at cost and are evaluated quarterly for impairment based on the ultimate recoverability of the purchase price. The fair value of these securities is derived from a third-party proprietary model that is considered to be a level 3 input. Other acquired financial assets represent acquired investments in various entities for Community Reinvestment Act and correspondent banking purposes. These investments were recorded at fair value at acquisition date based on level 2 inputs.

Mortgage servicing rights. Mortgage servicing rights are carried at the lower of amortized cost or market and are, therefore, carried at fair value only when fair value is less than the asset cost. The fair value of mortgage servicing rights is performed using a pooling methodology. Similar loans are pooled together and a model that relies on discount rates, estimates of prepayment rates and the weighted average cost to service the loans is used to determine the fair value. The inputs used in the fair value measurement for mortgage servicing rights are considered level 3 inputs.

Deposits. For non-time deposits, carrying value is a reasonable estimate of fair value. The fair value of time deposits is estimated by discounting future cash flows using the interest rates currently offered for deposits of similar remaining maturities. The inputs used in the fair value measurement for deposits are considered level 2 inputs.    

Long-term obligations. For fixed rate trust preferred securities, the fair values are determined based on recent trades of the actual security if available. For other long-term obligations, fair values are estimated by discounting future cash flows using current interest rates for similar financial instruments. The inputs used in the fair value measurement for long-term obligations are considered level 2 inputs.

Payable to the FDIC for loss share agreements. The fair value of the payable to the FDIC for loss share agreements is determined by the projected cash flows based on expected payments to the FDIC in accordance with the loss share agreements. Cash flows are discounted using current discount rates to reflect the timing of the estimated amounts due to the FDIC. The inputs used in the fair value measurement for the payable to the FDIC are considered level 3 inputs.

Interest rate swap. Under the terms of the existing cash flow hedge, BancShares pays a fixed payment to the counterparty in exchange for receipt of a variable payment that is determined based on the three-month LIBOR rate. The fair value of the cash

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flow hedge is, therefore, based on projected LIBOR rates for the duration of the hedge, values that, while observable in the market, are subject to adjustment due to pricing considerations for the specific instrument. The inputs used in the fair value measurement of the interest rate swap are considered level 2 inputs.

Off-balance-sheet commitments and contingencies. Carrying amounts are reasonable estimates of the fair values for such financial instruments. Carrying amounts include unamortized fee income and, in some cases, reserves for any credit losses from those financial instruments. These amounts are not material to BancShares' financial position.

For all other financial assets and financial liabilities, the carrying value is a reasonable estimate of the fair value as of June 30, 2015 and December 31, 2014. The carrying value and fair value for these assets and liabilities are equivalent because they are relatively short term in nature and there is no interest rate or credit risk that would cause the fair value to differ from the carrying value.

(Dollars in thousands)	June 30, 2015				December 31, 2014
	Carrying value		Fair value		Carrying value		Fair value
Cash and due from banks	$	514,404	$	514,404	$	604,182	$	604,182
Overnight investments	1,703,341		1,703,341		1,724,919		1,724,919
Investment securities available for sale	7,350,194		7,350,194		7,171,917		7,171,917
Investment securities held to maturity	351		365		518		544
Loans held for sale	85,040		85,040		63,696		63,696
Net loans and leases	19,311,868		18,755,676		18,564,999		18,046,497
Receivable from the FDIC for loss share agreements (1)	5,808		5,808		28,701		18,218
Income earned not collected	66,729		66,729		57,254		57,254
Federal Home Loan Bank stock	27,736		27,736		39,113		39,113
Preferred stock and other acquired financial assets	3,016		3,061		13,689		14,708
Mortgage servicing rights	18,162		20,078		16,688		16,736
Deposits	26,511,896		25,915,474		25,678,577		25,164,683
Short-term borrowings	723,225		723,225		987,184		987,184
Long-term obligations	475,568		493,715		351,320		367,732
Payable to the FDIC for loss share agreements	122,038		128,049		116,535		122,168
Accrued interest payable	5,835		5,835		8,194		8,194
Interest rate swap	3,052		3,052		4,337		4,337

⁽¹⁾ At June 30, 2015, the carrying value of the FDIC receivable approximates the fair value due to the short term nature of the majority of loss share agreements. At December 31, 2014, the fair value of the FDIC receivable is estimated based on discounted future cash flows using current discount rates and excludes receivable related to accretable yield to be amortized in prospective periods.

Among BancShares’ assets and liabilities, investment securities available for sale, loans held for sale and interest rate swaps accounted for as cash flow hedges are reported at their fair values on a recurring basis. Certain other assets are adjusted to their fair value on a nonrecurring basis, including impaired loans, OREO, goodwill, which is periodically tested for impairment and mortgage servicing rights, which are carried at the lower of amortized cost or market. Non-impaired loans held for investment, deposits, short-term borrowings and long-term obligations are not reported at fair value.

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For assets and liabilities carried at fair value on a recurring basis, the following table provides fair value information as of June 30, 2015 and December 31, 2014.

	June 30, 2015
			Fair value measurements using:
(Dollars in thousands)	Fair value		Level 1 inputs		Level 2 inputs		Level 3 inputs
Assets measured at fair value
Investment securities available for sale
U.S. Treasury	$	2,206,859	$	—	$	2,206,859	$	—
Government agency	776,244		—		776,244		—
Mortgage-backed securities	4,367,091		—		4,367,091		—
Total investment securities available for sale	7,350,194		—		7,350,194		—
Loans held for sale	85,040		—		85,040		—
Liabilities measured at fair value
Interest rate swaps accounted for as cash flow hedges	$	3,052	$	—	$	3,052	$	—
	December 31, 2014
			Fair value measurements using:
	Fair value		Level 1 inputs		Level 2 inputs		Level 3 inputs
Assets measured at fair value
Investment securities available for sale
U.S. Treasury	$	2,629,670	$	—	$	2,629,670	$	—
Government agency	908,817		—		908,817		—
Mortgage-backed securities	3,633,304		—		3,633,304		—
Municipal securities	126		—		126		—
Total investment securities available for sale	7,171,917		—		7,171,917		—
Loans held for sale	63,696		—		63,696		—
Liabilities measured at fair value
Interest rate swaps accounted for as cash flow hedges	$	4,337	$	—	$	4,337	$	—

There were no transfers between levels during the six months ended June 30, 2015.

Fair Value Option

Beginning in the fourth quarter of 2014, BancShares elected the fair value option for residential real estate loans held for sale. This election reduces certain timing differences in the Consolidated Statement of Income and better aligns with the management of the portfolio from a business perspective.

The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for residential real estate loans held for sale measured at fair value as of June 30, 2015 and December 31, 2014.

	June 30, 2015
(Dollars in thousands)	Fair Value		Aggregate Unpaid Principal Balance		Difference
Loans held for sale	$	85,040	$	84,257	$	783
	December 31, 2014
	Fair Value		Aggregate Unpaid Principal Balance		Difference
Loans held for sale	$	63,696	$	62,996	$	700

No loans held for sale were 90 or more days past due or on nonaccrual status as of June 30, 2015 or December 31, 2014.

The changes in fair value for residential real estate loans held for sale for which we elected the fair value option are included in the table below for the three and six months ended June 30, 2015.

	Three months ended June 30, 2015			Six months ended June 30, 2015
(Dollars in thousands)	Gains(Losses) From Fair Value Changes			Gains(Losses) From Fair Value Changes
Loans held for sale	$	(461	)	$	(31	)

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The changes in fair value in the table above are recorded as a component of mortgage income on the Consolidated Statements of Income.

Certain other assets are adjusted to their fair value on a nonrecurring basis, including impaired loans, OREO, goodwill, which are periodically tested for impairment, and mortgage servicing rights, which are carried at the lower of amortized cost or market. Non-impaired loans held for investment, deposits, short-term borrowings and long-term obligations are not reported at fair value.

Impaired loans are deemed to be at fair value if an associated allowance or current period charge-off has been recorded. The value of impaired loans is determined by either collateral valuations or discounted present value of the expected cash flow calculations. Collateral values are determined using appraisals or other third-party value estimates of the subject property with discounts generally between 10 and 14 percent applied for estimated holding and selling costs and other external factors that may impact the marketability of the property. Impaired loans are assigned to an asset manager and monitored monthly for significant changes since the last valuation date. If significant changes are noted, the asset manager orders a new valuation or adjusts the valuation accordingly. Expected cash flows are determined using expected payment information at the individual loan level, discounted using the effective interest rate. The effective interest rate generally ranges between 2 and 16 percent.

OREO is measured and reported at fair value using collateral valuations. Collateral values are determined using appraisals or other third-party value estimates of the subject property with discounts generally between 10 and 14 percent applied for estimated holding and selling costs and other external factors that may impact the marketability of the property. Changes to the value of the assets between scheduled valuation dates are monitored through continued communication with brokers and monthly reviews by the asset manager assigned to each asset. The asset manager uses the information gathered from brokers and other market sources to identify any significant changes in the market or the subject property as they occur. Valuations are then adjusted or new appraisals are ordered to ensure the reported values reflect the most current information. OREO that has been acquired or written down in the current year is deemed to be at fair value and included in the table below.

Mortgage servicing rights are carried at the lower of cost or market and are, therefore, carried at fair value only when fair value is less than the amortized asset cost. The fair value of mortgage servicing rights is performed using a pooling methodology. Similar loans are pooled together and a discounted cash flow model, which takes into consideration discount rates, prepayment rates, and the weighted average cost to service the loans, is used to determine the fair value. See Note H for further information on the discount rates, prepayment rates and the weighted average cost to service the loans.

For financial assets and liabilities carried at fair value on a nonrecurring basis, the following table provides fair value information as of June 30, 2015 and December 31, 2014.

	June 30, 2015
			Fair value measurements using:
(Dollars in thousands)	Fair value		Level 1 inputs		Level 2 inputs		Level 3 inputs
Impaired loans	$	70,446	$	—	$	—	$	70,446
Other real estate not covered under loss share agreements remeasured during current year	22,644		—		—		22,644
Other real estate covered under loss share agreements remeasured during current year	3,749		—		—		3,749
Mortgage servicing rights	221		—		—		221
	December 31, 2014
			Fair value measurements using:
	Fair value		Level 1 inputs		Level 2 inputs		Level 3 inputs
Impaired loans	$	73,170	$	—	$	—	$	73,170
Other real estate not covered under loss share agreements remeasured during current year	40,714		—		—		40,714
Other real estate covered under loss share agreements remeasured during current year	17,664		—		—		17,664
Mortgage servicing rights	13,562		—		—		13,562

No financial liabilities were carried at fair value on a nonrecurring basis as of June 30, 2015 and December 31, 2014.

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NOTE K - EMPLOYEE BENEFIT PLANS

BancShares sponsors noncontributory defined benefit pension plans for its qualifying employees (BancShares Plan) and legacy Bancorporation employees (Bancorporation Plan). Net periodic benefit cost is a component of employee benefits expense.

BancShares Plan

For the three and six months ended June 30, 2015 and 2014, the components of net periodic benefit cost are as follows:

	Three months ended June 30						Six months ended June 30
(Dollars in thousands)	2015			2014			2015			2014
Service cost	$	3,603		$	2,785		$	7,203		$	6,166
Interest cost	6,750			6,251			13,498			12,807
Expected return on assets	(8,299		)	(8,340		)	(16,594		)	(16,152		)
Amortization of prior service cost	52			52			105			105
Amortization of net actuarial loss	2,835			1,546			5,668			3,092
Net periodic benefit cost	$	4,941		$	2,294		$	9,880		$	6,018

Bancorporation Plan

For the three and six months ended June 30, 2015, the components of net periodic benefit cost are as follows:

	Three months ended June 30			Six months ended June 30
(Dollars in thousands)	2015			2015
Service cost	$	932		$	1,865
Interest cost	1,627			3,255
Expected return on assets	(2,870		)	(5,739		)
Amortization of prior service cost	—			—
Amortization of net actuarial loss	—			—
Net periodic benefit cost	$	(311	)	$	(619	)

No contributions were made during the three and six months ended June 30, 2015 to the BancShares or Bancorporation pension plans. BancShares does not expect to make any contributions to either of the defined benefit pension plans during 2015.

NOTE L - COMMITMENTS AND CONTINGENCIES

To meet the financing needs of its customers, BancShares and its subsidiaries have financial instruments with off-balance sheet risk. These financial instruments include commitments to extend credit, standby letters of credit and recourse obligations on mortgage loans sold. These instruments involve elements of credit, interest rate or liquidity risk.

Commitments to extend credit are legally binding agreements to lend to customers. Commitments generally have fixed expiration dates or other termination clauses and may require payment of fees. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future liquidity requirements. Established credit standards control the credit risk exposure associated with these commitments. In some cases, BancShares requires that collateral be pledged to secure the commitment, including cash deposits, securities and other assets. At June 30, 2015, BancShares had unused commitments totaling $7.72 billion, compared to $7.19 billion at December 31, 2014. Total unfunded commitments relating to investments in affordable housing projects totaled $32.9 million and $16.8 million at June 30, 2015 and December 31, 2014, respectively, and are included in other liabilities on BancShares' Consolidated Balance Sheets.

Standby letters of credit are commitments guaranteeing performance of a customer to a third party. Those commitments are primarily issued to support public and private borrowing arrangements. To mitigate its risk, BancShares’ follows its credit policies in the issuance of standby letters of credit. At June 30, 2015 and December 31, 2014, BancShares had standby letters of credit amounting to $77.6 million and $77.4 million, respectively. The credit risk related to the issuance of these letters of credit is essentially the same as that involved in extending loans to clients and, therefore, these letters of credit are collateralized when necessary.

Pursuant to standard representations and warranties relating to residential mortgage loan sales, contingent obligations exist for various events that may occur following the loan sale. If underwriting or documentation deficiencies are discovered at any point in the life of the loan or if the loan becomes nonperforming within 120 days of its sale, the investor may require

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BancShares to repurchase the loan or to repay a portion of the sale proceeds. Other liabilities included reserves of $3.1 million and $3.2 million as of June 30, 2015 and December 31, 2014, respectively, for estimated losses arising from these standard representation and warranty provisions.

BancShares has recorded a receivable from the FDIC totaling $5.8 million and $28.7 million as of June 30, 2015 and December 31, 2014, respectively, for the expected reimbursement of losses on assets covered under the various loss share agreements. These loss share agreements impose certain obligations on us that, in the event of noncompliance, could result in the delay or disallowance of some or all of our rights under those agreements. Requests for reimbursement are subject to FDIC review and may be delayed or disallowed for noncompliance. The loss share agreements are subject to interpretation by both the FDIC and BancShares, and disagreements may arise regarding coverage of losses, expenses and contingencies.

The loss share agreements for five FDIC-assisted transactions include provisions related to contingent payments that may be owed to the FDIC at the termination of the agreements (clawback liability).The clawback liability represents a payment by BancShares to the FDIC if actual cumulative losses on acquired covered assets are lower than the cumulative losses originally estimated by the FDIC at the time of acquisition. The clawback liability is estimated by discounting estimated future payments and is recorded in the Consolidated Balance Sheets as a payable to the FDIC under the relevant loss share agreements. As of June 30, 2015 and December 31, 2014, the estimated clawback liability was $122.0 million and $116.5 million, respectively.

BancShares and various subsidiaries have been named as defendants in legal actions arising from their normal business activities in which damages in various amounts are claimed. BancShares is also exposed to litigation risk relating to the prior business activities of banks from which assets were acquired and liabilities assumed in the various FDIC-assisted transactions. Although the amount of any ultimate liability with respect to such matters cannot be determined, in the opinion of management, any such liability will not have a material effect on BancShares’ consolidated financial statements.

NOTE M - DERIVATIVES

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At June 30, 2015, BancShares had an interest rate swap entered into during 2011 that qualifies as a cash flow hedge under GAAP. For all periods presented, the fair value of the outstanding derivative is included in other liabilities in the consolidated balance sheets, and the net change in fair value is included in the consolidated statements of cash flows under the caption net change in other liabilities.

The following table provides the notional amount of the interest rate swap and the fair value of the liability as of June 30, 2015 and December 31, 2014.

	June 30, 2015				December 31, 2014
(Dollars in thousands)	Notional  amount		Estimated fair value of liability		Notional  amount		Estimated fair value of liability
2011 interest rate swap hedging variable rate exposure on trust preferred securities 2011-2016	$	93,500	$	3,052	$	93,500	$	4,337

The interest rate swap is used for interest rate risk management purposes and converts variable-rate exposure on outstanding debt to a fixed rate. The interest rate swap has a notional amount of $93.5 million, representing the amount of variable rate trust preferred capital securities issued during 2006 and still outstanding at the swap inception date. The interest rate swap hedges interest payments through June 2016 and requires fixed-rate payments by BancShares at 5.50 percent in exchange for variable-rate payments of 175 basis points above the three-month LIBOR, which is equal to the interest paid to the holders of the trust preferred capital securities. Settlement of the swap occurs quarterly. As of June 30, 2015 and December 31, 2014, collateral with a fair value of $2.0 million and $7.0 million, respectively, was pledged to secure the existing obligation under the interest rate swap.

For cash flow hedges, the effective portion of the gain or loss due to changes in the fair value of the derivative hedging instrument is included in other comprehensive income, while the ineffective portion, representing the excess of the cumulative change in the fair value of the derivative over the cumulative change in expected future discounted cash flows on the hedged transaction, is recorded in the consolidated statement of income. BancShares’ interest rate swap has been fully effective since inception. Therefore, changes in the fair value of the interest rate swap have had no impact on net income. For the three months ended June 30, 2015 and 2014, BancShares recognized interest expense of $830 thousand and $831 thousand, respectively, resulting from incremental interest paid to the interest rate swap counterparty, none of which related to ineffectiveness. For the six months ended June 30, 2015 and 2014, BancShares recognized interest expense of $1.7 million during both periods, resulting from incremental interest paid to the interest swap counterparty, none of which related to ineffectiveness.

BancShares monitors the credit risk of the interest rate swap counterparty.

NOTE N - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) included the following as of June 30, 2015 and December 31, 2014:

	June 30, 2015									December 31, 2014
(Dollars in thousands)	Accumulated other comprehensive income (loss)			Deferred tax expense (benefit)			Accumulated other comprehensive income (loss), net of tax			Accumulated other comprehensive income (loss)			Deferred tax expense (benefit)			Accumulated other comprehensive income (loss), net of tax
Unrealized gains on investment securities available for sale, net	$	4,259		$	1,655		$	2,604		$	8,343		$	3,245		$	5,098
Unrealized loss on cash flow hedge	(3,052		)	(1,177		)	(1,875		)	(4,337		)	(1,673		)	(2,664		)
Funded status of defined benefit plan	(84,923		)	(33,035		)	(51,888		)	(90,696		)	(35,281		)	(55,415		)
Total	$	(83,716	)	$	(32,557	)	$	(51,159	)	$	(86,690	)	$	(33,709	)	$	(52,981	)

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The following table highlights changes in accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2015 and June 30, 2014:

	Three months ended June 30, 2015
(Dollars in thousands)	Unrealized gains (losses) on available for sale securities1			Gains (losses) on cash flow hedges1			Defined benefit pension items1			Total
Beginning balance	$	20,551		$	(2,310	)	$	(53,652	)	$	(35,411	)
Other comprehensive (loss) income before reclassifications	(17,874		)	435			—			(17,439		)
Amounts reclassified from accumulated other comprehensive income (loss)	(73		)	—			1,764			1,691
Net current period other comprehensive (loss) income	(17,947		)	435			1,764			(15,748		)
Ending balance	$	2,604		$	(1,875	)	$	(51,888	)	$	(51,159	)
	Three months ended June 30, 2014
	Unrealized gains (losses) on available for sale securities1			Gains (losses) on cash flow hedges1			Defined benefit pension items1			Total
Beginning balance	$	(2,835	)	$	(3,993	)	$	(9,766	)	$	(16,594	)
Other comprehensive income before reclassifications	19,325			350			—			19,675
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			976			976
Net current period other comprehensive income	19,325			350			976			20,651
Ending balance	$	16,490		$	(3,643	)	$	(8,790	)	$	4,057
	Six months ended June 30, 2015
	Unrealized gains (losses) on available for sale securities1			Gains (losses) on cash flow hedges1			Defined benefit pension items1			Total
Beginning balance	$	5,098		$	(2,664	)	$	(55,415	)	$	(52,981	)
Other comprehensive income before reclassifications	728			789			—			1,517
Amounts reclassified from accumulated other comprehensive income (loss)	(3,222		)	—			3,527			305
Net current period other comprehensive (loss) income	(2,494		)	789			3,527			1,822
Ending balance	$	2,604		$	(1,875	)	$	(51,888	)	$	(51,159	)
	Six months ended June 30, 2014
	Unrealized gains (losses) on available for sale securities1			Gains (losses) on cash flow hedges1			Defined benefit pension items1			Total
Beginning balance	$	(10,091	)	$	(4,434	)	$	(10,743	)	$	(25,268	)
Other comprehensive income before reclassifications	26,581			791			—			27,372
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			1,953			1,953
Net current period other comprehensive income	26,581			791			1,953			29,325
Ending balance	$	16,490		$	(3,643	)	$	(8,790	)	$	4,057

¹ All amounts are net of tax. Amounts in parentheses indicate debits.

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The following table presents the amounts reclassified from accumulated other comprehensive income (loss) and the line item affected in the statement where net income is presented for the six months ended June 30, 2015 and June 30, 2014:

(Dollars in thousands)	Three months ended June 30, 2015
Details about accumulated other comprehensive income (loss)	Amount reclassified from accumulated other comprehensive income (loss)1			Affected line item in the statement where net income is presented
Unrealized gains and losses on available for sale securities	$	147		Securities gains
	(74		)	Income taxes
	$	73		Net income
Amortization of defined benefit pension items
Prior service costs	$	(52	)	Employee benefits
Actuarial losses	(2,835		)	Employee benefits
	(2,887		)	Employee benefits
	1,123			Income taxes
	$	(1,764	)	Net income
Total reclassifications for the period	$	(1,691	)
	Three months ended June 30, 2014
Details about accumulated other comprehensive income (loss)	Amount reclassified from accumulated other comprehensive income (loss)1			Affected line item in the statement where net income is presented
Amortization of defined benefit pension items
Prior service costs	$	(52	)	Employee benefits
Actuarial losses	(1,546		)	Employee benefits
	(1,598		)	Employee benefits
	622			Income taxes
	$	(976	)	Net income
Total reclassifications for the period	$	(976	)
	Six months ended June 30, 2015
Details about accumulated other comprehensive income (loss)	Amount reclassified from accumulated other comprehensive income (loss)1			Affected line item in the statement where net income is presented
Unrealized gains and losses on available for sale securities	$	5,273		Securities gains
	(2,051		)	Income taxes
	$	3,222		Net income
Amortization of defined benefit pension items
Prior service costs	$	(105	)	Employee benefits
Actuarial losses	(5,668		)	Employee benefits
	(5,773		)	Employee benefits
	2,246			Income taxes
	$	(3,527	)	Net income
Total reclassifications for the period	$	(305	)
	Six months ended June 30, 2014
Details about accumulated other comprehensive icnome (loss)	Amount reclassified from accumulated other comprehensive income (loss)1			Affected line item in the statement where net income is presented
Amortization of defined benefit pension items
Prior service costs	$	(105	)	Employee benefits
Actuarial losses	(3,092		)	Employee benefits
	(3,197		)	Employee benefits
	1,244			Income taxes
	$	(1,953	)	Net income
Total reclassifications for the period	$	(1,953	)

¹ Amounts in parentheses indicate debits to profit/loss.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

INTRODUCTION

Management’s discussion and analysis ("MD&A") of earnings and related financial data are presented to assist in understanding the financial condition and results of operations of First Citizens BancShares, Inc. and Subsidiaries (BancShares). This discussion and analysis should be read in conjunction with the unaudited consolidated financial statements and related notes presented within this report along with our financial statements and related MD&A of financial condition and results of operations included in our 2014 Annual Report on Form 10-K. In the MD&A, asset yields and net interest margin are presented on a fully taxable equivalent ("FTE") basis. Intercompany accounts and transactions have been eliminated. Although certain amounts for prior years have been reclassified to conform to statement presentations for 2015, the reclassifications had no material effect on shareholders’ equity or net income as previously reported. Unless otherwise noted, the terms "we," "us" and "BancShares" refer to the consolidated financial position and consolidated results of operations for BancShares.

BancShares is a financial holding company headquartered in Raleigh, North Carolina, that offers full-service banking through its wholly-owned banking subsidiary, First-Citizens Bank & Trust Company ("FCB"). FCB is a state-chartered bank organized under the laws of the state of North Carolina. As of August 5, 2015, FCB operated 571 branches in North Carolina, South Carolina, Virginia, West Virginia, Maryland, Tennessee, Washington, California, Florida, Georgia, Texas, Arizona, New Mexico, Oregon, Colorado, Oklahoma, Kansas, Missouri, and Washington, DC.

BancShares’ earnings and cash flows are primarily derived from its commercial banking activities. We gather deposits from retail and commercial customers and also secure funding through various non-deposit sources. We invest the liquidity generated from these funding sources in interest-earning assets, including loans and leases, investment securities and overnight investments. We also invest in bank premises, hardware, software, furniture and equipment used to conduct our commercial banking business. We provide treasury services products, cardholder and merchant services, wealth management services and various other products and services typically offered by commercial banks.

EXECUTIVE OVERVIEW

Recent Economic and Industry Developments

Various external factors influence the focus of our business efforts, and the results of our operations can change significantly based on those external factors. Based on the latest real gross domestic product ("GDP") information available, the Bureau of Economic Analysis’ advance estimate of second quarter2015 GDP indicatedgrowth of 2.3 percent, up from the 0.6 percent growth during the first quarter of 2015. The growth in real GDP during the second quarter was primarily due to consumer spending, exports, residential fixed investments, and state and local government spending, offset by negative contributions from private inventory investments, nonresidential fixed investments and government spending.

Second quarter 2015 results indicate continuing job growth as the unemployment rate fell to 5.3 percent, the lowest rate since April 2008. According to the U.S. Department of Labor, the economy added 664,000 new nonfarm payroll jobs during the second quarter of 2015 while average hourly wages remained flat. Housing activity continues to improve as a result of increased demand fueled by historically low mortgage rates and solid job growth. Purchases of homes increased to a seasonally adjusted annual rate of 482,000 homes in June 2015, in comparison to the June 2014 estimate of 408,000 homes.

The Federal Reserve’s Federal Open Market Committee ("FOMC") indicated in the second quarter that economic activity has been expanding moderately after limited growth in first quarter with household spending rising moderately and the housing sector showing improvement. The FOMC stated it will maintain its target range for the federal funds rate and reiterated it would assess progress, both realized and expected, towards its objectives of maximum employment and 2.0 percent inflation. The FOMC anticipates that, even after employment and inflation are near its target objectives, economic conditions may warrant keeping the target federal funds rate below levels the FOMC views as normal in the longer run.

The trends in the banking industry are similar to those of the broader economy as shown in the latest national banking results from the first quarter of 2015. Strengthening loan growth helped increase revenues at most banks, as aggregate industry net income increased 6.9 percent compared to the first quarter of 2014. Growth in interest-earning assets contributed to an increase in net interest income compared to a year earlier, while higher trading revenue and income from sales and servicing of residential real estate loans contributed to an increase in noninterest income from the prior year. Across the industry, bank average net interest margin declined to 3.02 percent from 3.12 percent in the fourth quarter of 2014 and 3.16 percent in first quarter 2014, as higher-yielding assets matured and were replaced by lower-yielding investments in an environment of low interest rates. Despite net interest margin declines, 62.7 percent of banks reported year-over-year growth in quarterly

45

earnings. Credit improvement remains key to earnings growth. Net charge-offs and delinquent loans and lease balances continue to decline, with reductions across all major loan categories except loans to commercial and industrial borrowers.

Other industry trends noted based on review of first quarter 2015 data, in comparison to the same quarter in 2014, unless otherwise specified, include the following:

•Loan loss provisions increased 9.9 percent, while the quarterly net charge-offs posted a year-over-year decline for the 19th consecutive quarter. The largest improvement in net charge-offs occurred in home equity lines of credit and credit cards.

•The amount of noncurrent loan and lease balances (90 days or more past due or in nonaccrual status) fell for the 20th quarter in a row. The percentage of loans and leases that were noncurrent at the end of the first quarter was 1.83 percent, the lowest level since the middle of 2008.

•Loan-loss reserves fell for the 20th consecutive quarter. Despite the decline in reserves, the average coverage ratio of reserves to noncurrent loans improved for a 10th consecutive quarter as a result of the decline in noncurrent loan balances.

•Total loan and lease balances rose by 0.6 percent, showing increases in commercial and industrial loans, real estate loans secured by non-farm nonresidential real estate properties and residential mortgage loans.

Financial Performance Highlights for Second Quarter 2015

BancShares' consolidated net income during the second quarter of 2015 was $44.5 million, or $3.71 per share, compared to $67.2 million, or $5.59 per share, in the first quarter of 2015 and $26.7 million, or $2.77 per share in the second quarter of 2014. The annualized returns on average assets and equity were 0.58 percent and 6.42 percent, respectively, during the second quarter of 2015, compared to 0.90 percent and 10.00 percent during the first quarter of 2015, and 0.49 percent and 5.05 percent during the second quarter of 2014. Net interest margin for the second quarter of 2015 was 3.31 percent, compared to 3.18 percent for the first quarter of 2015 and 3.29 percent for the second quarter of the prior year. The impact of lending strategic initiatives and improved economic stability have contributed to organic loan growth and improved credit quality in comparison to the first quarter of 2015 and second quarter of 2014.

For the first six months of 2015, net income was $111.7 million, or $9.30 per share, compared to $49.2 million, or $5.11 per share, reported for the same period of 2014. Annualized returns on average assets and average equity for the first six months of 2015 were 0.74 percent and 8.19 percent, respectively, compared to 0.45 percent and 4.71 percent, respectively, for the same period a year earlier.

Earnings for the first quarter of 2015 include an acquisition gain of $42.9 million recognized in connection with the acquisition of Capitol City Bank & Trust (CCBT) of Atlanta, Georgia. During the second quarter of 2015, adjustments were made to the CCBT gain based on additional information regarding the acquisition date fair values primarily related to updated collateral valuations. The CCBT gain originally recorded in the first quarter includes an additional $5.4 million identified during the second quarter and retroactively reported in first quarter 2015 financial results. The total after-tax impact of the gain was $26.2 million. For up to one year following the closing date of the CCBT acquisition, fair values are subject to refinement. The balances from the CCBT acquisition at June 30, 2015 consisted of $145.1 million of loans and leases and $137.1 million of deposits.

When comparing net income for the quarter and six months ended June 30, 2015, to the same periods of 2014, the increases were primarily driven by the impact of the First Citizens Bancorporation, Inc. (Bancorporation) merger and the FDIC-assisted acquisition of CCBT, which occurred on October 1, 2014 and February 13, 2015, respectively. The Bancorporation acquisition added $2.01 billion of investment securities, $4.49 billion of loans and leases, and $7.17 billion of deposits as of the acquisition date. The impact of the acquisitions is reflected in Bancshares' financial results from the respective acquisition dates. As such, the following discussion will focus on sequential quarter comparisons between the second quarter of 2015 and first quarter of 2015, both of which include operating results from the Bancorporation and CCBT acquisitions.

Key drivers of financial performance for the second quarter of 2015 include:

• Loan growth continued during the second quarter of 2015, as the net increase in total loans was $423.2 million, reflecting strong originated portfolio growth of $552.5 million. Total purchased-credit impaired (PCI) loans declined, down $129.3 million, due to payoffs and resolution of problem assets.

• Nonperforming assets decreased $27.6 million, or by 15.1 percent, due to a $16.7 million decline in other real estate owned (OREO) and a $10.9 million decline in nonaccrual loans as credit quality continues to improve.

• Yield on the investment portfolio continues to improve, while borrowing and deposit funding costs remain low and consistent with the prior quarter.

46

• The allowance for loan and lease losses as a percentage of total loans and leases ended the quarter at 1.07 percent, compared to 1.08 percent at March 31, 2015. Credit quality improvements in the originated loan portfolio resulted in a slight decline in the allowance ratio.

• BancShares' liquidity position was strong with $4.15 billion in free liquidity at June 30, 2015.

• BancShares remained well-capitalized under Basel III capital requirements with a leverage capital ratio of 8.92 percent, Tier 1 risk-based capital ratio of 12.66 percent, common equity Tier 1 ratio of 12.52 and total risk-based capital ratio of 14.10 percent at June 30, 2015.

47

Table 1

Selected Quarterly Data

	2015						2014										Six months ended June 30
	Second			First			Fourth			Third			Second
(Dollars in thousands, except share data)	Quarter			Quarter			Quarter			Quarter			Quarter				2015			2014
SUMMARY OF OPERATIONS
Interest income	$	246,013		$	231,510		$	232,122		$	177,621		$	177,311			$	477,523		$	350,705
Interest expense	11,363			11,345			14,876			11,399			11,613				22,708			24,076
Net interest income	234,650			220,165			217,246			166,222			165,698				454,815			326,629
Provision (credit) for loan and lease losses	7,719			5,792			8,305			1,537			(7,299		)		13,511			(9,202		)
Net interest income after provision (credit) for loan and lease losses	226,931			214,373			208,941			164,685			172,997				441,304			335,831
Gains on acquisitions	—			42,930			—			—			—				42,930			—
Noninterest income excluding gains on acquisitions(1)	107,450			107,823			132,924			78,599			66,589				215,273			128,903
Noninterest expense	264,691			258,166			254,429			201,810			199,020				522,857			390,050
Income before income taxes(1)	69,690			106,960			87,436			41,474			40,566				176,650			74,684
Income taxes(1)	25,168			39,802			24,540			14,973			13,880				64,970			25,519
Net income(1)	$	44,522		$	67,158		$	62,896		$	26,501		$	26,686			$	111,680		$	49,165
Net interest income, taxable equivalent	$	236,456		$	221,452		$	218,436		$	167,150		$	166,570			$	457,907		$	328,263
PER SHARE DATA
Net income(1)	$	3.71		$	5.59		$	5.24		$	2.76		$	2.77			$	9.30		$	5.11
Cash dividends	0.30			0.30			0.30			0.30			0.30				0.60			0.60
Market price at period end (Class A)	263.04			259.69			252.79			216.63			245.00				263.04			245.00
Book value at period end(1)	232.62			230.53			223.77			224.75			222.91				232.62			222.91
SELECTED PERIOD AVERAGE BALANCES
Total assets(1)	$	30,835,749		$	30,414,322		$	30,376,207		$	22,092,940		$	22,017,501			$	30,626,200		$	21,942,854
Investment securities	7,149,691			6,889,752			7,110,799			5,616,730			5,629,467				7,020,440			5,618,157
Loans and leases (PCI and non-PCI)	19,354,823			18,922,028			18,538,553			13,670,217			13,566,612				19,139,621			13,513,580
Interest-earning assets	28,660,246			28,231,922			28,064,279			20,351,369			20,304,777				28,447,268			20,222,418
Deposits	26,342,821			25,833,068			25,851,672			18,506,778			18,561,927				26,089,355			18,527,311
Long-term obligations	473,434			460,713			404,363			313,695			398,615				467,109			449,428
Interest-bearing liabilities	18,933,611			19,171,958			19,011,554			13,836,025			14,020,480				19,052,128			14,104,388
Shareholders' equity(1)	$	2,781,648		$	2,724,719		$	2,712,905		$	2,150,119		$	2,120,275			$	2,750,964		$	2,105,569
Shares outstanding	12,010,405			12,010,405			12,010,405			9,618,941			9,618,941				12,010,405			9,618,941
SELECTED PERIOD-END BALANCES
Total assets(1)	$	30,896,855		$	30,862,932		$	30,075,113		$	21,937,665		$	22,057,876			$	30,896,855		$	22,057,876
Investment securities	7,350,545			7,045,550			7,172,435			5,648,701			5,538,859				7,350,545			5,538,859
Loans and leases:
PCI	1,123,239			1,252,545			1,186,498			996,280			1,109,933				1,123,239			1,109,933
Non-PCI	18,396,946			17,844,414			17,582,967			12,806,511			12,415,023				18,396,946			12,415,023
Deposits	26,511,896			26,300,830			25,678,577			18,406,941			18,556,758				26,511,896			18,556,758
Long-term obligations	475,568			468,180			351,320			313,768			314,529				475,568			314,529
Shareholders' equity(1)	$	2,793,890		$	2,768,719		$	2,687,594		$	2,161,881		$	2,144,181			$	2,793,890		$	2,144,181
Shares outstanding	12,010,405			12,010,405			12,010,405			9,618,941			9,618,941				12,010,405			9,618,941
SELECTED RATIOS AND OTHER DATA
Rate of return on average assets (annualized)(1)	0.58		%	0.90		%	0.82		%	0.48		%	0.49			%	0.74		%	0.45			%
Rate of return on average shareholders' equity (annualized)(1)	6.42			10.00			9.20			4.89			5.05				8.19			4.71
Net yield on interest-earning assets (taxable equivalent)	3.31			3.18			3.09			3.26			3.29				3.24			3.27
Allowance for loan and lease losses to total loans and leases:
PCI	1.38			1.41			1.82			2.59			2.64				1.38			2.64
Non-PCI	1.05			1.05			1.04			1.37			1.43				1.05			1.43
Nonperforming assets to total loans and leases and other real estate at period end:
Covered	4.70			8.42			9.84			11.98			10.97				4.70			10.97
Noncovered	0.73			0.77			0.66			0.73			0.64				0.73			0.64
Total	0.79			0.95			0.91			1.13			1.29				0.79			1.29
Tier 1 risk-based capital ratio(1)	12.66			12.92			13.61			14.23			14.58				12.66			14.58
Tier 1 common equity ratio	12.52			12.77			N/A			N/A			N/A				12.52			N/A
Total risk-based capital ratio(1)	14.10			14.42			14.69			15.57			15.93				14.10			15.93
Leverage capital ratio(1)	8.92			8.90			8.91			9.77			9.69				8.92			9.69
Dividend payout ratio(1)	8.09			5.37			5.73			10.87			10.83				6.45			11.74
Average loans and leases to average deposits	73.47			73.25			71.71			73.87			73.09				73.36			72.94

⁽¹⁾ Amounts for 2014 periods have been updated to reflect the fourth quarter 2014 adoption of Accounting Standard Update (ASU) 2014-01 related to investments in qualified affordable housing projects.

48

BUSINESS COMBINATIONS

Capitol City Bank & Trust Company

In February 2015, FCB entered into an agreement with the FDIC to purchase certain assets and assume certain liabilities of Capitol City Bank & Trust Company of Atlanta, Georgia (CCBT). The transaction allowed FCB to expand its presence in Georgia as CCBT operated eight branches in Atlanta, Stone Mountain, Albany, Augusta and Savannah. In June of 2015, FCB closed one of the branches in Atlanta. This is an FDIC-assisted transaction; however, it has no loss share agreement.

During the second quarter of 2015, adjustments were made to the acquisition fair values primarily based upon updated collateral valuations resulting in an increase of $5.4 million to the gain on acquisition. These adjustments were applied retroactively to the first quarter of 2015 and brought the total gain on the transaction to $42.9 million which is included in noninterest income on the Consolidated Statements of Income. The total after-tax impact of the gain was $26.2 million.

The CCBT transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as additional information regarding closing date fair values becomes available.

The following table provides the identifiable assets acquired and liabilities assumed at their estimated fair values as of the acquisition date.

Table 2

Capitol City Bank & Trust Company

(Dollars in thousands)	As recorded by FCB
Assets
Cash and cash equivalents	$	19,622
Investment securities	35,413
Loans	154,496
Intangible assets	690
Other assets	1,714
Total assets acquired	211,935
Liabilities
Deposits	266,352
Short-term borrowings	5,501
Other liabilities	667
Total liabilities assumed	272,520
Fair value of net liabilities assumed	(60,585		)
Cash received from FDIC	103,515
Gain on acquisition of CCBT	$	42,930

Merger-related expenses of $1.1 million and $1.3 million were recorded in the Consolidated Statements of Income for the three and six months ended June 30, 2015. Loan-related interest income generated from CCBT was approximately $2.4 million for the second quarter of 2015 and $3.7 million since the acquisition date.

All loans resulting from the CCBT transaction were recognized upon acquisition date with a discount attributable, at least in part, to credit quality, and are therefore accounted for as PCI loans.

First Citizens Bancorporation, Inc and First Citizens Bank and Trust Company, Inc.

On October 1, 2014, BancShares completed the merger of Bancorporation with and into BancShares pursuant to an Agreement and Plan of Merger dated June 10, 2014, as amended on July 29, 2014. First Citizens Bank and Trust Company, Inc. merged with and into FCB on January 1, 2015.

The Bancorporation transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at estimated fair value on the acquisition date. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition. Assets acquired, excluding goodwill, totaled $8.28 billion, including $4.49 billion in loans and leases, $2.01 billion of investment securities available for sale, $1.28 billion in cash and overnight investments, and $109.4 million of identifiable intangible assets. Liabilities assumed were $7.66 billion, including $7.17 billion of deposits. Goodwill of $4.2 million was recorded as result of the excess purchase price over the estimated fair value of the net assets acquired.

49

BancShares incurred merger-related expenses of $3.5 million and $6.3 million, respectively, for the three and six months ended June 30, 2015, and $953 thousand and $1.2 million, respectively, for the three and six months ended June 30, 2014. Total merger-related costs for the Bancorporation transaction are estimated to be between $28.0 million and $32.0 million of which $14.3 million has been incurred as of June 30, 2015.

FDIC-Assisted Transactions with Loss Share Agreements

We participated in six FDIC-assisted transactions that included loss share agreements between 2009 and 2011 that provided significant growth opportunities and continue to provide significant contributions to our results of operations. These transactions allowed us to increase our presence in existing markets and to expand our banking presence into adjacent markets. Also, as a result of the merger with Bancorporation, BancShares assumed three additional FDIC loss share agreements. The loss share agreements protect us from a substantial portion of the credit and asset quality risk we would otherwise incur.

Generally, losses on single family residential loans are covered for ten years. All other loans are generally covered for five years. At June 30, 2015, $319.7 million of total loans and leases remain covered under loss share agreements. The loss share protection expired for non-single family residential loans acquired from Temecula Valley Bank, Venture Bank and Georgian Bank in 2014. At the beginning of the second quarter of 2015, the loss share protection expired for non-single family residential loans acquired from Sun American Bank (SAB) and all loans acquired from First Regional Bank (FRB). The loan balances at June 30, 2015 for the expired agreements from SAB and FRB were $30.9 million and $9.0 million, respectively. The loss share protection for non-single family residential loans, with a balance of $8.2 million at June 30, 2015, will expire at the beginning of the fourth quarter of 2015 for Williamsburg First National Bank. Protection for all other covered assets extends beyond December 31, 2015. We will process all necessary filings in accordance with the agreements before expiration to collect the earned loss share receivables. Going forward, we will continue to manage these loans and loan relationships in accordance with our standard credit administration policies and procedures.

50

Table 3

Consolidated Quarter-to-Date Average Taxable-Equivalent Balance Sheets

	Three months ended
	June 30, 2015							March 31, 2015							June 30, 2014
				Interest							Interest							Interest
	Average			Income/		Yield/		Average			Income/		Yield/		Average			Income/		Yield/
(Dollars in thousands)	Balance			Expense		Rate		Balance			Expense		Rate		Balance			Expense		Rate
Assets
Loans and leases	$	19,354,823		$	224,235	4.65	%	$	18,922,028		$	211,885	4.54	%	$	13,566,612		$	164,794	4.87	%
Investment securities:
U. S. Treasury	2,224,933			4,346		0.78		2,355,234			4,593		0.79		1,481,051			2,435		0.66
Government agency	915,976			2,195		0.96		938,356			1,708		0.73		1,559,337			2,160		0.55
Mortgage-backed securities	4,008,782			15,518		1.55		3,592,499			13,220		1.47		2,565,403			7,813		1.22
State, county and municipal	—			—		—		3,663			53		5.77		186			4		8.60
Other	—			—		—		—			—		—		23,490			220		3.76
Total investment securities	7,149,691			22,059		1.23		6,889,752			19,574		1.14		5,629,467			12,632		0.90
Overnight investments	2,155,732			1,525		0.28		2,420,143			1,338		0.22		1,108,698			756		0.27
Total interest-earning assets	28,660,246			$	247,819	3.47	%	28,231,923			$	232,797	3.34	%	20,304,777			$	178,182	3.52	%
Cash and due from banks	453,347							463,784							464,877
Premises and equipment	1,121,776							1,123,323							882,256
FDIC loss share receivable	20,779							28,430							67,574
Allowance for loan and lease losses	(206,463		)					(203,389		)					(216,337		)
Other real estate owned	84,057							91,729							81,074
Other assets (1)	702,007							678,522							433,280
Total assets (1)	$	30,835,749						$	30,414,322						$	22,017,501
Liabilities
Interest-bearing deposits:
Checking with interest	$	4,712,074		$	428	0.04	%	$	4,608,049		$	415	0.04	%	$	2,553,941		$	125	0.02	%
Savings	1,833,259			98		0.02		1,765,540			92		0.02		1,200,145			152		0.05
Money market accounts	7,666,121			1,629		0.09		7,821,438			1,641		0.09		6,182,997			1,540		0.10
Time deposits	3,414,991			3,379		0.40		3,515,525			3,481		0.40		2,999,262			4,189		0.56
Total interest-bearing deposits	17,626,445			5,534		0.13		17,710,552			5,629		0.13		12,936,345			6,006		0.19
Repurchase agreements	622,547			387		0.25		305,918			121		0.16		101,744			64		0.25
Other short-term borrowings	211,185			1,271		2.41		694,775			1,813		1.05		583,776			1,487		1.02
Long-term obligations	473,434			4,171		3.52		460,713			3,782		3.28		398,615			4,055		4.07
Total interest-bearing liabilities	18,933,611			$	11,363	0.24	%	19,171,958			$	11,345	0.24	%	14,020,480			$	11,612	0.33	%
Demand deposits	8,716,376							8,122,516							5,625,582
Other liabilities	404,114							395,129							251,164
Shareholders' equity (1)	2,781,648							2,724,719							2,120,275
Total liabilities and shareholders'  equity (1)	$	30,835,749						$	30,414,322						$	22,017,501
Interest rate spread						3.23	%						3.10	%						3.19	%
Net interest income and net yield on interest-earning assets				$	236,456	3.31	%				$	221,452	3.18	%				$	166,570	3.29	%

⁽¹⁾ Amounts for 2014 have been updated to reflect the fourth quarter 2014 adoption of ASU 2014-01 related to investments in qualified affordable housing projects.

Loans and leases include PCI loans, non-PCI loans, nonaccrual loans and loans held for sale. Yields related to loans, leases and securities exempt from both federal and state income taxes, federal income taxes only, or state income taxes only are stated on a taxable-equivalent basis assuming statutory federal income tax rates of 35.0 percent for each period and state income tax rates of 6.0 percent, 6.0 percent and 6.2 percent for the three months ended June 30, 2015, March 31, 2015 and June 30, 2014, respectively. The taxable-equivalent adjustment was $1,806, $1,287 and $872 for the three months ended June 30, 2015, March 31, 2015 and June 30, 2014, respectively. The rate/volume variance is allocated equally between the changes in volume and rate.

51

Table 4

Consolidated Year-to-Date Average Taxable-Equivalent Balance Sheets

	Six months ended
	June 30, 2015							June 30, 2014
				Interest							Interest
	Average			Income/		Yield/		Average			Income/		Yield/
(Dollars in thousands)	Balance			Expense		Rate		Balance			Expense		Rate
Assets
Loans and leases	$	19,139,621		$	436,120	4.59	%	$	13,513,580		$	326,430	4.87	%
Investment securities:
U.S. Treasury	2,289,724			8,938		0.79		1,131,539			3,521		0.63
Government agency	927,104			3,903		0.84		1,917,664			5,122		0.53
Mortgage-backed securities	3,801,791			28,738		1.51		2,545,457			15,576		1.22
State, county and municipal	1,821			53		5.81		186			7		7.53
Other	—			—		—		23,311			316		2.73
Total investment securities	7,020,440			41,632		1.19		5,618,157			24,542		0.87
Overnight investments	2,287,207			2,863		0.25		1,090,681			1,368		0.25
Total interest-earning assets	28,447,268			$	480,615	3.40	%	20,222,418			$	352,340	3.51	%
Cash and due from banks	458,537							471,424
Premises and equipment	1,122,545							879,849
FDIC loss share receivable	24,584							77,507
Allowance for loan and lease losses	(204,935		)					(220,714		)
Other real estate owned	87,872							85,960
Other assets (1)	690,329							426,410
Total assets (1)	$	30,626,200						$	21,942,854
Liabilities
Interest-bearing deposits:
Checking with interest	$	4,660,349		$	842	0.04	%	$	2,524,474		$	278	0.02	%
Savings	1,799,587			190		0.02		1,190,250			443		0.08
Money market accounts	7,743,351			3,270		0.09		6,268,862			3,429		0.11
Time deposits	3,464,981			6,861		0.40		3,056,296			8,682		0.57
Total interest-bearing deposits	17,668,268			11,163		0.13		13,039,882			12,832		0.20
Repurchase agreements	465,107			508		0.22		99,641			139		0.28
Other short-term borrowings	451,644			3,084		1.37		515,437			1,997		0.78
Long-term obligations	467,109			7,953		3.41		449,428			9,109		4.05
Total interest-bearing liabilities	19,052,128			$	22,708	0.24	%	14,104,388			$	24,077	0.34	%
Demand deposits	8,421,087							5,487,429
Other liabilities	402,021							245,468
Shareholders' equity (1)	2,750,964							2,105,569
Total liabilities and shareholders' equity (1)	$	30,626,200						$	21,942,854
Interest rate spread						3.16	%						3.17	%
Net interest income and net yield on interest-earning assets				$	457,907	3.24	%				$	328,263	3.27	%

⁽¹⁾ Amounts for 2014 have been updated to reflect the fourth quarter 2014 adoption of ASU 2014-01 related to investments in qualified affordable housing projects.

Loans and leases include PCI loans, non-PCI loans, nonaccrual loans and loans held for sale. Yields related to loans, leases and securities exempt from both federal and state income taxes, federal income taxes only, or state income taxes only are stated on a taxable-equivalent basis assuming statutory federal income tax rates of 35.0 percent for each period and state income tax rates of 6.0 percent and 6.2 percent for the six months ended June 30, 2015 and June 30, 2014, respectively. The taxable-equivalent adjustment was $3,092 and $1,634 for the six months ended June 30, 2015 and June 30, 2014, respectively. The rate/volume variance is allocated equally between the changes in volume and rate.

52

Table 5

Changes in Consolidated Taxable Equivalent Net Interest Income

	Three months ended June 30, 2015									Six months ended June 30, 2015
	Change from prior year period due to:									Change from prior year period due to:
(Dollars in thousands)	Volume			Yield/Rate			Total Change			Volume			Yield/Rate			Total Change
Assets
Loans and leases	$	68,580		$	(9,139	)	$	59,441		$	132,161		$	(22,471	)	$	109,690
Investment securities:
U. S. Treasury	1,346			565			1,911			4,069			1,348			5,417
Government agency	(1,224		)	1,259			35			(3,408		)	2,189			(1,219		)
Mortgage-backed securities	4,995			2,710			7,705			8,567			4,595			13,162
State, county and municipal	(4		)	—			(4		)	55			(9		)	46
Other	(220		)	—			(220		)	(316		)	—			(316		)
Total investment securities	4,893			4,534			9,427			8,967			8,123			17,090
Overnight investments	723			46			769			1,489			6			1,495
Total interest-earning assets	$	74,196		$	(4,559	)	$	69,637		$	142,617		$	(14,342	)	$	128,275
Liabilities
Interest-bearing deposits:
Checking with interest	$	142		$	161		$	303		$	263		$	301		$	564
Savings	57			(111		)	(54		)	171			(424		)	(253		)
Money market accounts	306			(217		)	89			634			(793		)	(159		)
Time deposits	483			(1,293		)	(810		)	955			(2,776		)	(1,821		)
Total interest-bearing deposits	988			(1,460		)	(472		)	2,023			(3,692		)	(1,669		)
Repurchase agreements	324			(1		)	323			453			(84		)	369
Other short-term borrowings	(1,593		)	1,377			(216		)	(334		)	1,421			1,087
Long-term obligations	713			(597		)	116			320			(1,476		)	(1,156		)
Total interest-bearing liabilities	432			(681		)	(249		)	2,462			(3,831		)	(1,369		)
Change in net interest income	$	73,764		$	(3,878	)	$	69,886		$	140,155		$	(10,511	)	$	129,644

Loans and leases include PCI loans, non-PCI loans, nonaccrual loans and loans held for sale.

RESULTS OF OPERATIONS

Net Interest Income and Margin

Second Quarter 2015

The second quarter results reflect notable differences in net interest income, net interest margin and average-asset yields compared to the same quarter of 2014 and first quarter of 2015. The most significant impact from the same quarter of 2014 resulted from theOctober 1, 2014 acquisition of Bancorporation, adding $2.01 billion of investment securities, $4.49 billion of loans and leases, and $7.17 billion of deposits as of the acquisition date. Other significant drivers for quarterly changes are specifically noted below.

Compared to the first quarter of 2015, net interest income increased $14.5 million, or by 6.6 percent, to $234.7 million in the second quarter. Loan interest income was up $11.8 million primarily due to paydowns on the PCI loan portfolio which accelerated income recognition, higher originated loan growth, and a $2.5 million improvement in investment securities interest income as a result of reinvesting matured cash flows and overnight investments into higher yielding investments. Net interest income increased $69.0 million, or by 41.6 percent, during the second quarter of 2015, compared to the same quarter of 2014, primarily as a result of the Bancorporation merger.

PCI loan accretion income, which is included in interest income, may be accelerated in the event of unscheduled repayments and various other post-acquisition events. During the three months ended June 30, 2015, accretion income on PCI loans equaled $34.1 million compared to $30.5 million during the second quarter of 2014. The increase was due to significant paydowns on the PCI loan portfolio which accelerated income recognition.

The taxable-equivalent net interest margin for the second quarter of 2015 was 3.31 percent, an increase of 13 basis points from 3.18 percent recorded in the first quarter of 2015, and a 2 basis point increase from 3.29 percent recorded in the same quarter of 2014. The margin increase was due to higher investment yields, higher interest income from originated loan growth, and additional accretion income in the PCI loan portfolio. Borrowing and deposit funding rates remained low and consistent with the prior quarter. The margin increase compared to the second quarter of 2014 was primarily due to organic loan growth, a 33

53

basis point improvement in the investment securities yield and lower funding costs, offset by loan yield compression. The improvement in the yield on investment securities was due to reinvesting matured cash flows and overnight investments into higher yielding investments.

Average quarter-to-date interest earning assets increased by $428.3 million, since the first quarter of 2015, which was driven by a $432.8 million increase in average outstanding loans and a $259.9 million increase in average investment securities, offset by a $264.4 million decline in average overnight investments. The increase in average outstanding loans from the first quarter of 2015 was driven by organic loan growth, which exceeded PCI loan portfolio runoff. Investment securities purchase activity increased as market interest rates recovered during the the quarter, causing total average investment securities to increase as purchases exceeded sales, maturities and paydowns during the quarter. Average quarter-to-date interest earning assets increased by $8.36 billion, compared to the same quarter in the prior year, primarily as a result of the Bancorporation merger.

The taxable-equivalent yield on interest-earning assets improved 13 basis points to 3.47 percent for the second quarter of 2015, compared to 3.34 percent for the first quarter of 2015 due to improvement in the investment yield, a change in asset mix due to growth in loans and higher PCI loan interest income. The taxable-equivalent yield on interest-earning assets declined by 5 basis points from 3.52 percent for the same period of 2014 as improvements from the investment yield and loan growth were offset by a decline in the yield earned on loans. Improvement in the investment yield is driven by a shift in the mix of the portfolio to higher yielding securities. The decline in the loan yield was due to continued low interest rates and competitive loan pricing.

Average interest-bearing liabilities decreased by $238.3 million during the second quarter of 2015, due to an $84.1 million decline in interest-bearing deposits and a $167.0 million decline in short-term borrowings primarily as a result of subordinated debt maturities totaling $200.0 million. The rate on interest-bearing liabilities of 0.24 percent remained consistent with the first quarter of 2015. Average interest-bearing liabilities increased $4.91 billion during the second quarter of 2015 from the same quarter in the prior year, primarily reflecting the impact of the Bancorporation merger. The rate on interest-bearing liabilities declined by 9 basis points from 0.33 percent in the second quarter of 2014 due to lower borrowing costs and a 6 basis point reduction in the cost of funding deposits.

Year-to-date 2015

Similar to the quarter over quarter comparison, the year-to-date 2015 results show notable differences when compared to the same period of 2014 due to the October 1, 2014 Bancorporation merger. Other significant drivers for changes during the period are specifically noted below.

Net interest income for the first six months of 2015 totaled $454.8 million, an increase of $128.2 million, or 39.2 percent, compared to the same period of 2014. The increase was primarily due to a $108.4 million increase in loan interest income as a result of organic loan growth and the impact of the Bancorporation merger, coupled with a $16.9 million increase in investment securities interest income as a result of reinvesting matured cash flows and overnight investments into higher yielding investments and investment securities acquired in the Bancorporation merger. Accretion income on PCI loans for the first six months of 2015 totaled $59.2 million compared to $60.7 million during the same period of 2014. Net interest income also benefited from decreased interest expense of $1.4 million in comparison to the same six-month period of the prior year, as additional interest expense from the Bancorporation merger was offset by movement from time deposits to demand and lower interest bearing deposit products.

The taxable-equivalent net interest margin totaled 3.24 percent, compared to 3.27 percent for the same six-month period in 2014. The decrease in the year-to-date margin is predominately driven by reductions in the loan portfolio yields due to continued low interest rates and competitive loan pricing, offset by improvements in investment yields and a reduction in funding costs.

Interest-earning assets averaged $28.45 billion, an increase of $8.22 billion in comparison to the same period of 2014 primarily as a result of the Bancorporation merger. Average loans and leases increased $5.63 billion in comparison to the first six months of 2014 as a result of organic loan growth and loans acquired in the CCBT and Bancorporation acquisitions, offset by reductions in the remaining PCI loan portfolio. Average investment securities increased $1.40 billion in comparison to the first six months of 2014, with a 32 basis point increase in the taxable-equivalent yield. The increase in average investments is primarily driven by the Bancorporation merger and redeployment of excess cash. Average overnight investments increased $1.20 billion compared to the year-to-date average in the prior year due to the Bancorporation merger.

Average interest-bearing liabilities totaled $19.05 billion, an increase of $4.95 billion when compared to the same period of 2014. The year-to-date 2015 rate on interest-bearing liabilities decreased to 0.24 percent, or a 10 basis point decrease when compared to year-to-date 2014 primarily due to lower borrowing costs and a reduction in deposit funding costs. Average interest-bearing deposits totaled $17.67 billion, an increase of $4.63 billion from the same period of 2014. This increase includes deposits acquired in the Bancorporation and CCBT acquisitions. The year-to-date 2015 rate on interest-bearing deposits decreased to 0.13 percent, or a 7 basis point decline when compared to the first six months of 2014.

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Noninterest Income

Noninterest income is an essential component of our total revenue and is critical to our ability to sustain adequate profitability levels. The primary sources of noninterest income have traditionally consisted of cardholder services income, merchant services income, service charges on deposit accounts and revenues derived from wealth management services. Recoveries on PCI loans that have been previously charged-off are additional sources of noninterest income. BancShares records these recoveries as noninterest income rather than as an adjustment to the allowance for loan and lease losses since charge-offs on PCI loans are primarily recorded through the nonaccretable difference.

Table 6

Noninterest Income

	Three months ended									Six months ended
(Dollars in thousands)	June 30, 2015			March 31, 2015			June 30, 2014			June 30, 2015			June 30, 2014
Gain on acquisitions	$	—		$	42,930		$	—		$	42,930		$	—
Cardholder services	19,214			18,401			13,257			37,615			25,089
Merchant services	22,070			18,880			15,035			40,950			28,556
Service charges on deposit accounts	22,361			22,058			15,265			44,419			29,705
Wealth management services	21,555			20,880			15,815			42,435			30,695
Fees from processing services	45			50			5,682			95			10,543
Securities gains	147			5,126			—			5,273			—
Other service charges and fees	5,685			5,455			4,250			11,140			8,194
Mortgage income	5,571			4,549			1,210			10,120			2,165
Insurance commissions	2,456			3,297			2,253			5,753			5,540
ATM income	1,825			1,664			1,260			3,489			2,462
Adjustments to FDIC receivable for loss share agreements	(4,553		)	(1,047		)	(15,295		)	(5,600		)	(27,644		)
Recoveries of acquired loans previously charged off	6,321			4,336			5,400			10,657			8,869
Other (1)	4,753			4,174			2,457			8,927			4,729
Total noninterest income (1)	$	107,450		$	150,753		$	66,589		$	258,203		$	128,903

⁽¹⁾Amounts for the 2014 periods have been updated to reflect the fourth quarter 2014 adoption of ASU 2014-01 related to investments in qualified affordable housing projects.

Noninterest income decreased by $43.3 million during the second quarter of 2015, compared to the first quarter of 2015. The decline was driven by the $42.9 million acquisition gain recognized as a result of the CCBT acquisition in the first quarter, a $5.0 million decrease in securities gains, and an unfavorable $3.5 million increase in adjustments to the FDIC receivable related to lower claimable OREO expenses. These decreases were offset by an increase of $4.0 million in merchant and cardholder income due to higher sales volume, an increase of $1.0 million in mortgage income due to increased production and sales of loans and a $2.0 million increase in recoveries of acquired loans previously charged off.

Noninterest income for the second quarter of 2015 and the first six months of 2015 totaled $107.5 million and $258.2 million, respectively, compared to $66.6 million and $128.9 million for the same periods of 2014. The increase for both periods was primarily driven by the impact of the Bancorporation merger and favorable reductions in adjustments to the FDIC receivable resulting from lower amortization expense as five loss share agreements expired. The year-to-date increase was also attributable to the $42.9 million acquisition gain recognized as a result of the CCBT acquisition during 2015. The quarter-to-date and year-to-date increases were partially offset by $5.6 million and $10.4 million respective declines in fees from processing services, as substantially all fees recorded in 2014 related to payments received from Bancorporation prior to the merger.

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Noninterest Expense

The primary components of noninterest expense are salaries and related employee benefits, occupancy costs, facilities and equipment expense and merchant processing expenses.

Table 7

Noninterest Expense

	Three months ended						Six months ended
(Dollars in thousands)	June 30, 2015		March 31, 2015		June 30, 2014		June 30, 2015		June 30, 2014
Salaries and wages	$	110,685	106,543		$	81,839	$	217,228	$	161,192
Employee benefits	27,212		30,146		19,741		57,358		39,841
Occupancy expense	25,532		25,620		20,300		51,152		40,710
Equipment expense	23,296		23,541		19,581		46,837		38,354
FDIC insurance expense	4,551		4,271		2,640		8,822		5,276
Foreclosure-related expenses	1,019		2,557		3,858		3,576		9,268
Merger-related expenses	4,573		2,997		3,450		7,570		5,903
Merchant processing	15,132		13,856		9,755		28,988		18,236
Processing fees paid to third parties	4,777		5,395		4,173		10,172		7,980
Card processing	4,078		3,813		3,033		7,891		5,630
Consultant	2,248		2,128		3,433		4,376		5,569
Collection	2,585		2,300		2,647		4,885		4,482
Advertising	2,324		1,913		1,568		4,237		2,664
Other	36,679		33,086		23,002		69,765		44,945
Total noninterest expense	$	264,691	$	258,166	$	199,020	$	522,857	$	390,050

Noninterest expense increased $6.5 million in the second quarter of 2015 to $264.7 million, compared to $258.2 million in the first quarter of 2015. The increase was primarily due to a $4.1 million increase in salaries and wages due to annual merit increases effective in the second quarter and higher incentives, a $1.6 million increase in merger-related expenses due to CCBT and Bancorporation conversion costs and a $1.5 million increase in merchant and card processing expenses aligned to increased sales volume. These increases were partially offset by a $2.9 million decline in employee benefits due to lower healthcare costs and payroll taxes, and a $1.5 million reduction in foreclosure-related expenses resulting from higher gains on the sale of OREO.

Noninterest expense for the second quarter of 2015 and the first six months of 2015 totaled $264.7 million and $522.9 million, respectively, compared to $199.0 million and $390.1 million for the same periods of 2014. The quarter-to-date and year-to-date respective increases of $65.7 million and $132.8 million were primarily driven by the impact of the Bancorporation merger. Excluding the impact of the Bancorporation merger, several expense categories experienced fluctuations when comparing second quarter of 2015 and the first six months of 2015 to the same periods of 2014. Benefits expense increased due to higher pension costs as the discount rate declined in 2015. Equipment expense also increased due to depreciation of recent upgrades of our technology systems placed in service at the beginning of 2015. Foreclosure-related expenses and collection costs declined resulting from lower losses on the sale of OREO and managing fewer nonperforming assets.

Income Taxes

Income tax expense totaled $25.2 million, $39.8 million and $13.9 million for the second quarter of 2015, first quarter of 2015 and second quarter of 2014, respectively, representing effective tax rates of 36.1 percent, 37.2 percent and 34.2 percent during the respective periods. Income tax expense totaled $65.0 million and $25.5 million for the six months ended June 30, 2015 and 2014, respectively, representing effective tax rates of 36.8 percent and 34.2 percent for the respective six month periods. The increased effective tax rate in 2015 was the result of the comparable levels of permanent differences on higher pre-tax earnings.

We monitor and evaluate the potential impact of current events on the estimates used to establish income tax expenses and income tax liabilities. On a periodic basis, we evaluate our income tax positions based on current tax law, positions taken by various tax auditors within the jurisdictions where BancShares is required to file income tax returns, as well as potential or pending audits or assessments by tax auditors.

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BALANCE SHEET ANALYSIS

BancShares focuses on maintaining high asset quality, which results in a loan and lease portfolio subjected to strenuous underwriting and monitoring procedures, and corresponding tighter margins. We avoid high-risk industry concentrations, but we do maintain a concentration of owner-occupied real estate loans to borrowers in medical and medical-related fields. The credit department actively monitors all loan concentrations to ensure potential risks are identified timely and managed accordingly. Our focus on asset quality also influences the composition of our investment securities portfolio. At June 30, 2015, mortgage-backed securities represented 59.4 percent of investment securities available for sale, compared to U.S. Treasury and government agency securities, which represented 30.0 percent and 10.6 percent, respectively, of the portfolio. Investments in mortgage-backed securities primarily represent securities issued by government or government-sponsored entities. Overnight investments include interest-bearing deposits at the Federal Reserve Bank and other financial institutions, and federal funds sold.

Investment Securities

Investment securities available for sale equaled $7.35 billion at June 30, 2015, compared to $7.17 billion and $5.54 billion at December 31, 2014 and June 30, 2014, respectively. The $1.81 billion increase in the portfolio from June 30, 2014 to June 30, 2015 was primarily due to the Bancorporation merger. Available for sale securities are reported at their aggregate fair value, and unrealized gains and losses are included as a component of other comprehensive income, net of deferred taxes. As of June 30, 2015, investment securities available for sale had a net unrealized gain of $4.3 million, compared to a net unrealized gain of $8.3 million and $26.8 million as of December 31, 2014 and June 30, 2014, respectively. In determining whether we had any other than temporary impairment for securities with unrealized losses we consider the amount and duration of the impairment, whether the impairment is industry-wide or specific to the financial condition of the issuer, our ability to hold the investment for recovery, adverse actions by rating agencies and deferred interest payments on debt securities. Management concluded that no other than temporary impairment existed as of June 30, 2015.

Changes in the amount of our investment securities portfolio result from changes in our liquidity position. When inflows arising from deposit and treasury services products exceed loan and lease demand, we generally invest excess funds in the securities portfolio. Conversely, when loan demand exceeds growth in deposits and short-term borrowings, we generally allow overnight investments to decline and use proceeds from maturing securities to fund loan demand.

Table 8

Investment Securities

	June 30, 2015				December 31, 2014				June 30, 2014
(Dollars in thousands)	Cost		Fair value		Cost		Fair value		Cost		Fair Value
Investment securities available for sale:
U.S. Treasury	$	2,198,027	$	2,206,859	$	2,626,900	$	2,629,670	$	1,623,564	$	1,625,630
Government agency	774,962		776,244		908,362		908,817		1,281,724		1,283,566
Mortgage-backed securities	4,372,946		4,367,091		3,628,187		3,633,304		2,605,333		2,596,286
Equity securities	—		—		—		—		543		32,498
Municipal securities	—		—		125		126		185		186
Total investment securities available for sale	7,345,935		7,350,194		7,163,574		7,171,917		5,511,349		5,538,166
Investment securities held to maturity:
Mortgage-backed securities	351		365		518		544		693		729
Total investment securities	$	7,346,286	$	7,350,559	$	7,164,092	$	7,172,461	$	5,512,042	$	5,538,895

Since December 31, 2014, proceeds from the sales, maturities and calls of U.S. Treasury and government agency securities were primarily reinvested into mortgage-backed securities at higher-yielding rates.

57

Loans and Leases

BancShares' accounting methods for loans and leases differ depending on whether they are purchased credit-impaired (PCI) or non-PCI. Non-PCI loans and leases include originated commercial, originated noncommercial, purchased revolving, and purchased non-impaired loans. For purchased non-impaired loans to be included as non-PCI, it must be determined that the loans that do not have a discount, due at least in part, to credit quality at the time of acquisition. Conversely, loans for which it is probable at acquisition that all required payments will not be collected in accordance with contractual terms are considered PCI loans. PCI loans are evaluated at acquisition and where a discount is required at least in part due to credit quality, the nonrevolving loans are accounted for under the guidance in ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality. PCI loans and leases are recorded at fair value at the date of acquisition. No allowance for loan and lease losses is recorded on the acquisition date as the fair value of the acquired assets incorporates assumptions regarding credit risk. An allowance is recorded if there is additional credit deterioration after the acquisition date.

We report our PCI and non-PCI loan portfolios separately, and each portfolio is further divided into commercial and non-commercial based on the type of borrower, purpose, collateral, and/or our underlying credit management processes. Additionally, loans are assigned to loan classes, which further disaggregate loans based upon common risk characteristics, such as commercial and industrial or residential mortgage. See Note D to the Consolidated Financial Statements, "Loans and Leases," for definitions of each loan class.

Table 9

Loans and Leases

(Dollars in thousands)	June 30, 2015		December 31, 2014		June 30, 2014
Non-PCI loans and leases:
Commercial:
Construction and land development	$	547,151	$	493,133	$	342,021
Commercial mortgage	7,861,590		7,552,948		6,367,096
Other commercial real estate	288,214		244,875		178,899
Commercial and industrial	2,199,591		1,988,934		1,292,213
Lease financing	643,508		571,916		413,422
Other	338,389		353,833		131,051
Total commercial loans	11,878,443		11,205,639		8,724,702
Noncommercial:
Residential mortgage	2,597,064		2,493,058		1,071,089
Revolving mortgage	2,529,936		2,561,800		2,122,675
Construction and land development	227,280		205,016		119,420
Consumer	1,164,223		1,117,454		377,137
Total noncommercial loans	6,518,503		6,377,328		3,690,321
Total non-PCI loans and leases	18,396,946		17,582,967		12,415,023
PCI loans:
Commercial:
Construction and land development	$	48,208	$	78,079	$	80,827
Commercial mortgage	611,505		577,518		637,481
Other commercial real estate	14,353		40,193		34,688
Commercial and industrial	20,382		27,254		33,851
Other	2,597		3,079		1,270
Total commercial loans	697,045		726,123		788,117
Noncommercial:
Residential mortgage	358,307		382,340		270,688
Revolving mortgage	64,340		74,109		20,129
Construction and land development	345		912		28,759
Consumer	3,202		3,014		2,240
Total noncommercial loans	426,194		460,375		321,816
Total PCI loans	1,123,239		1,186,498		1,109,933
Total loans and leases	$	19,520,185	$	18,769,465	$	13,524,956

Loan balances increased $750.7 million, or 8.0 percent annualized, since December 31, 2014, primarily the result of $814.0 million of organic growth in the non-PCI portfolio. The PCI portfolio declined over this period by $63.3 million reflecting

58

continued loan run-off of $208.4 million offset by the impact of the CCBT acquisition in the first quarter of 2015 which contributed $145.1 million to PCI loan balances at June 30, 2015.

Non-PCI loans increased by $5.98 billion, compared to the second quarter of 2014, reflecting originated loan growth and the Bancorporation contribution of $4.49 billion in loans at fair value as of the acquisition date. PCI loans increased by $13.3 million from the second quarter of 2014, due to PCI loans acquired through the Bancorporation and CCBT acquisitions, offset by the continued reduction in the PCI loan portfolio as aligned with original forecasts.

Allowance for Loan and Lease Losses ("ALLL")

The ALLL totaled $208.3 million at June 30, 2015, representing an increase of $3.9 million since December 31, 2014 primarily due to strong loan growth. The ALLL as a percentage of total loans at June 30, 2015 was 1.07 percent, compared to 1.09 percent at December 31, 2014. At June 30, 2015, the ALLL allocated to non-PCI loans totaled $192.8 million, or 1.05 percent of non-PCI loans and leases, compared to $182.8 million, or 1.04 percent, at December 31, 2014. An additional ALLL of $15.5 million relates to PCI loans at June 30, 2015, compared to $21.6 million at December 31, 2014. The ALLL on the PCI loan portfolio continues to decline which aligns with the forecasted run-off of this portfolio.

The ALLL allocated to originated non-PCI loans and leases was 1.27 percent of originated non-PCI loans and leases at June 30, 2015, compared to 1.33 percent at December 31, 2014. The decline in the allowance ratio was related to credit improvement throughout the originated non-PCI loan portfolio. Originated non-PCI loans totaled $15.21 billion and $13.72 billion at June 30, 2015 and December 31, 2014, respectively, and do not include purchased revolving, purchased non-impaired loans or PCI loans.

The allowance for loan and lease losses as a percentage of total loans and leases ended the quarter at 1.07 percent, compared to 1.08 percent at March 31, 2015. Credit quality improvements in the originated loan portfolio resulted in a slight decline in the allowance ratio.

BancShares recorded $7.7 million net provision expense for loan and lease losses during the second quarter of 2015, compared to net provision expense of $5.8 million in the first quarter of 2015. The increase in provision expense was primarily due to originated loan growth and lower impairment reversals on the PCI loan portfolio.

Non-PCI loan provision expense totaled $9.0 million during the second quarter of 2015, an increase of $0.3 million from the first quarter of 2015, resulting from continued loan growth and a slight increase in net charge-offs. Net charge-offs for non-PCI loans totaled $4.1 million during the second quarter of 2015, compared to $3.6 million during the first quarter of 2015. On an annualized basis, net charge-offs as a percentage of average loans and leases during the second quarter of 2015 remained consistent at 0.10 percent when compared to the first quarter of 2015.

The PCI loan net provision credit totaled $1.3 million during the second quarter of 2015, compared to a net provision credit of $2.9 million for the first quarter of 2015. The current quarter net provision credit resulted from reversals of prior impairment due to accelerated paydowns and credit quality improvement.

The ALLL increased by $2.1 million to $208.3 million at June 30, 2015 compared to June 30, 2014 as the increase in the ALLL for non-PCI loans offset the reduction in the ALLL for PCI loans. The ALLL as a percentage of total loans at June 30, 2015 was 1.07 percent, compared to 1.52 percent at June 30, 2014. This ratio change was attributable to improved credit quality trends and the impact of non-PCI loans acquired in the Bancorporation merger. Loans acquired in the Bancorporation merger were recorded at fair value replacing the historical allowance with a fair value discount.

We recorded $7.7 million and $13.5 million net provision expense for loan and lease losses for the three and six months ended June 30, 2015, compared to net provision credits of $7.3 million and $9.2 million for the same periods of 2014. The increases in provision expense were due primarily to originated non-PCI loan growth and lower impairment reversals on the PCI loan portfolio.

Management considers the ALLL adequate to absorb estimated inherent losses that relate to loans and leases outstanding at June 30, 2015, although future adjustments may be necessary based on changes in economic conditions and other factors. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the ALLL. Such agencies may require adjustments to the ALLL based on information available to them at the time of their examination.

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Table 10

Allowance for Loan and Lease Losses

	2015			2014												Six months ended June 30
	Second			First			Fourth			Third			Second
(Dollars in thousands)	Quarter			Quarter			Quarter			Quarter			Quarter			2015			2014
ALLL at beginning of period	$	205,553		$	204,466		$	200,905		$	206,246		$	222,942		$	204,466		$	233,394
Provision (credit) for loan and lease losses:
PCI loans	(1,275		)	(2,864		)	(2,622		)	(197		)	(9,529		)	(4,139		)	(11,802		)
Non-PCI loans	8,994			8,656			10,927			1,734			2,230			17,650			2,600
Net charge-offs of loans and leases:
Charge-offs	(6,926		)	(7,176		)	(7,469		)	(8,721		)	(10,904		)	(14,102		)	(21,580		)
Recoveries	1,971			2,471			2,725			1,843			1,507			4,442			3,634
Net charge-offs of loans and leases	(4,955		)	(4,705		)	(4,744		)	(6,878		)	(9,397		)	(9,660		)	(17,946		)
ALLL at end of period	$	208,317		$	205,553		$	204,466		$	200,905		$	206,246		$	208,317		$	206,246
ALLL at end of period allocated to loans and leases:
PCI	$	15,468		$	17,619		$	21,629		$	25,800		$	29,331		$	15,468		$	29,331
Non-PCI	192,849			187,934			182,837			175,105			176,915			192,849			176,915
ALLL at end of period	$	208,317		$	205,553		$	204,466		$	200,905		$	206,246		$	208,317		$	206,246
Net charge-offs of loans and leases:
PCI	$	876		$	1,146		$	1,549		$	3,334		$	6,133		$	2,022		$	12,387
Non-PCI	4,079			3,559			3,195			3,544			3,264			7,638			5,559
Total net charge-offs	$	4,955		$	4,705		$	4,744		$	6,878		$	9,397		$	9,660		$	17,946
Reserve for unfunded commitments	$	389		$	404		$	333		$	328		$	380		$	389		$	380
Average loans and leases:
PCI	$	1,173,105		$	1,200,484		$	1,244,910		$	1,005,045		$	1,183,464		$	1,186,719		$	1,249,989
Non-PCI	18,181,718			17,721,544			17,293,643			12,665,172			12,383,148			17,952,902			12,263,591
Loans and leases at period-end:
PCI	1,123,239			1,252,545			1,186,498			996,280			1,109,933			1,123,239			1,109,933
Non-PCI	18,396,946			17,844,414			17,582,967			12,806,511			12,415,023			18,396,946			12,415,023

Ratios
Net charge-offs (annualized) to average loans and leases:
PCI	0.30	%	0.39	%	0.49	%	1.32	%	2.08	%	0.34	%	2.00	%
Non-PCI	0.09		0.08		0.07		0.11		0.11		0.09		0.09
Total	0.10		0.10		0.10		0.20		0.28		0.10		0.27
ALLL to total loans and leases:
PCI	1.38		1.41		1.82		2.59		2.64		1.38		2.64
Non-PCI	1.05		1.05		1.04		1.37		1.43		1.05		1.43
Total	1.07		1.08		1.09		1.46		1.52		1.07		1.52

Asset Quality

Asset quality continues to be strong due to prudent underwriting standards and management of nonperforming assets. Nonperforming assets include nonaccrual loans and leases and OREO resulting from both PCI and non-PCI loans.

As of June 30, 2015, BancShares’ nonperforming assets amounted to $155.4 million, a decrease of $15.5 million from $170.9 million at December 31, 2014, related to an overall reduction in OREO balances. Compared to the same quarter a year ago, nonperforming assets are down $20.5 million from $175.8 million at June 30, 2014. Nonperforming assets as a percentage of total loans and leases plus OREO amounted to 0.79 percent, compared to 0.91 percent and 1.29 percent at December 31, 2014 and June 30, 2014, respectively. Of the $155.4 million in nonperforming assets at June 30, 2015, $15.6 million related to loans and OREO covered by loss share agreements and $139.7 million relates to noncovered loans and OREO. Covered nonperforming assets at June 30, 2015 decreased $78.6 million, or 83.41 percent, when compared to June 30, 2014 related to the expiration of FDIC loss share agreements, loan resolutions and OREO dispositions. Covered nonperforming assets represent 4.70 percent of covered loans and OREO, compared to 9.84 percent and 10.97 percent as of December 31, 2014 and June 30, 2014, respectively. Noncovered nonperforming assets represented 0.73 percent of noncovered loans and leases plus OREO as of June 30, 2015, in comparison to 0.66 percent and 0.64 percent as of December 31, 2014 and June 30, 2014, respectively.

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Table 11

Nonperforming Assets

	2015		2014
	Second		First		Fourth		Third		Second
(Dollars in thousands)	Quarter		Quarter		Quarter		Quarter		Quarter
Risk Elements
Nonaccrual loans and leases:
Covered under loss share agreements	$	2,732	$	21,440	$	27,020	$	30,415	$	54,036
Not covered under loss share agreements	79,375		71,536		50,407		54,203		46,485
Other real estate:
Covered	12,890		17,302		22,982		29,272		40,136
Noncovered	60,358		72,690		70,454		43,186		35,151
Total nonperforming assets	$	155,355	$	182,968	$	170,863	$	157,076	$	175,808
Nonperforming assets:
Covered	$	15,622	$	38,742	$	50,002	$	59,687	$	94,172
Noncovered	139,733		144,226		120,861		97,389		81,636
Total nonperforming assets	$	155,355	$	182,968	$	170,863	$	157,076	$	175,808
Loans and leases:
Covered	$	319,665	$	443,055	$	485,308	$	469,038	$	818,235
Noncovered	19,200,520		18,653,904		18,284,157		13,333,753		12,706,721
Accruing loans and leases 90 days or more past due	86,015		99,130		115,680		75,227		79,532

Ratio of nonperforming assets to total loans, leases and other real estate owned:
Covered	4.70	%	8.42	%	9.84	%	11.98	%	10.97	%
Noncovered	0.73		0.77		0.66		0.73		0.64
Total	0.79		0.95		0.91		1.13		1.29

Troubled Debt Restructurings

Troubled debt restructurings ("TDRs") are selectively made to provide relief to customers experiencing liquidity challenges or other circumstances that could affect their ability to meet their debt obligations. Typical modifications include short-term deferral of interest or modification of payment terms. Nonperforming TDRs are not accruing interest and are included as nonperforming assets within nonaccrual loans and leases. TDRs which are accruing at the time of restructure and continue to perform based on the restructured terms are considered performing.

At June 30, 2015, accruing TDRs totaled $127.6 million, a decrease of $8.4 million and $28.9 million, from $136.0 million and $156.5 million at December 31, 2014 and June 30, 2014, respectively. At June 30, 2015, nonaccruing TDRs totaled $24.0 million, an increase of $8.5 million from December 31, 2014 and a decrease of $15.4 million from June 30, 2014. The increase in nonaccruing TDRs from December 31, 2014 is related toa significant loan acquired in the Bancorporation merger and certain residential and revolving mortgage loans moving to nonaccrual status from accruing past due as a result of system enhancements during the first quarter of 2015.

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Table 12

Troubled Debt Restructurings

(Dollars in thousands)	June 30, 2015		December 31, 2014		June 30, 2014
Accruing TDRs:
PCI	$	41,355	$	44,647	$	62,592
Non-PCI	86,227		91,316		93,904
Total accruing TDRs	127,582		135,963		156,496
Nonaccruing TDRs:
PCI	1,975		2,225		17,861
Non-PCI	22,020		13,291		21,564
Total nonaccruing TDRs	23,995		15,516		39,425
All TDRs:
PCI	43,330		46,872		80,453
Non-PCI	108,247		104,607		115,468
Total TDRs	$	151,577	$	151,479	$	195,921

Interest-Bearing Liabilities

Interest-bearing liabilities include interest-bearing deposits, short-term borrowings and long-term obligations. Interest-bearing liabilities totaled $18.74 billion and $18.93 billion at June 30, 2015 and December 31, 2014, respectively. The $189.7 million decrease from December 31, 2014 was due to a $264.0 million decrease in short term borrowings as a result of maturities of $200.0 million in subordinated debt and $70.0 million of FHLB borrowings, offset by an increase in long-term obligations as a result of a $120.0 million new Federal Home Loan Bank ("FHLB") borrowing in 2015. Interest-bearing liabilities totaled $18.74 billion at June 30, 2015, an increase of $4.86 billion from June 30, 2014 primarily due to the Bancorporation merger.

Deposits

At June 30, 2015, total deposits equaled $26.51 billion, an increase of $833.3 million, or 3.25 percent, when compared to December 31, 2014 resulting from organic growth in demand and checking with interest as well as deposits acquired in the CCBT acquisition of $137.1 million at June 30, 2015. Deposits increased $7.96 billion, or by 42.9 percent, when compared to June 30, 2014, primarily as a result of the Bancorporation merger.

Due to our focus on maintaining a strong liquidity position, core deposit retention remains a key business objective. We believe that traditional bank deposit products remain an attractive option for many customers, but as economic conditions improve, we recognize that our liquidity position could be adversely affected as bank deposits are withdrawn and invested elsewhere. Our ability to fund future loan growth is dependent on our success at retaining existing deposits and generating new deposits at a reasonable cost.

Short-Term Borrowings

At June 30, 2015, short-term borrowings totaled $723.2 million compared to $987.2 million and $788.5 million at December 31, 2014 and June 30, 2014, respectively. The $264.0 million decline from December 31, 2014 was due to maturities of $70.0 million in FHLB borrowings and $200.0 million in subordinated debt during 2015. Additionally, master notes declined $410.3 million while repurchase agreements increased by $416.2 million, resulting from a migration from master notes to customer repurchasing products as the master notes product was discontinued in the second quarter of 2015. The $65.3 million decrease from June 30, 2014 was due to maturities of FHLB borrowings and subordinated debt of $195.0 million, FHLB borrowings of $10.0 million with maturities less than one year being reclassified from long-term obligations, and the migration from master notes to customer repurchasing products. Master notes decreased $491.5 million and repurchase agreements increased $611.2 million from June 30, 2014 as a result of the discontinuation of the master notes product, coupled with the Bancorporation merger contribution of $218.4 million in repurchase agreements as of the October 1, 2014 acquisition date.

Long-Term Obligations

Long-term obligations equaled $475.6 million at June 30, 2015, up $124.2 million from December 31, 2014 as a result of a new $120.0 million FHLB borrowing in the first quarter of 2015. Long-term obligations were up $161.0 million from June 30, 2014

primarily due to $124.9 million in long-term obligations added as a result of the October 1, 2014 Bancorporation merger and a new $120.0 million FHLB borrowing in 2015, partially offset by maturities of FHLB borrowings totaling $70.0 million in first quarter 2015.

At June 30, 2015 and December 31, 2014, long-term obligations included $132.5 million and $132.9 million, respectively, in junior subordinated debentures representing obligations to FCB/NC Capital Trust III, FCB/SC Capital Trust II, and SCB Capital Trust I, special purpose entities and grantor trusts for $128.5 million of trust preferred securities. At June 30, 2014 long-

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term obligations included $96.4 million in junior subordinated debentures representing obligations to FCB/NC Capital Trust III, a special purpose entity and grantor trust for $93.5 million of trust preferred securities. FCB/NC Capital Trust III, FCB/SC Capital Trust II, and SCB Capital Trust I's ("the Trusts") trust preferred securities mature in 2036, 2034, and 2034, respectively, and may be redeemed at par in whole or in part at any time. FCB/SC Capital Trust II, and SCB Capital Trust I were former capital trust subsidiaries of Bancorporation. BancShares has guaranteed all obligations of the Trusts.

Shareholders' Equity and Capital Adequacy

BancShares and FCB are required to meet minimum requirements imposed by regulatory authorities. Failure to meet certain capital requirements may result in actions by regulatory agencies that could have a material impact on our consolidated financial statements.

In accordance with accounting principles generally accepted in the United States of America (GAAP), unrealized gains and losses on certain assets and liabilities, net of deferred taxes, are included in accumulated other comprehensive income (AOCI)within shareholder's equity. These amounts are excluded from shareholders' equity in the calculation of our capital ratios. In the aggregate, these items represented a net decrease in shareholders' equity of $51.2 million at June 30, 2015, compared to a net reduction of $53.0 million at December 31, 2014 and a net increase of $4.1 million at June 30, 2014. The $1.8 million increase in AOCI from December 31, 2014 reflects the amortization of prior service cost and the net actuarial losses of the defined benefit plan and a decrease in unrealized gains on investment securities available for sale. The $55.2 million reduction in AOCI from June 30, 2014 primarily reflects the change in the funded status of the defined benefit plan.

Table 13

Analysis of Capital Adequacy

	June 30, 2015 (1)		December 31, 2014		June 30, 2014		Regulatory minimum (2)		Well-capitalized requirement (2)
BancShares
Risk-based capital ratios(3)
Tier 1 capital	12.66	%	13.61	%	14.58	%	6.00	%	8.00	%
Tier 1 common equity(4)	12.52		N/A		N/A		4.50		6.50
Total capital	14.10		14.69		15.93		8.00		10.00
Tier 1 leverage ratio(3)	8.92		8.91		9.69		4.00		5.00
Bank
Risk-based capital ratios(3)
Tier 1 capital	12.61	%	13.12	%	14.58	%	6.00	%	8.00	%
Tier 1 common equity(4)	12.61		N/A		N/A		4.50		6.50
Total capital	13.62		14.37		15.93		8.00		10.00
Tier 1 leverage ratio(3)	8.90		9.30		9.69		4.00		5.00

⁽¹⁾ June 30, 2015 calculated under Basel III guidelines, which became effective January 1, 2015.

⁽²⁾ Regulatory minimum and well-capitalized requirements are based on 2015 Basel III regulatory capital guidelines.

⁽³⁾ Amounts for the June 30, 2014 period have been updated to reflect the fourth quarter 2014 adoption of Accounting Standard Update (ASU) 2014-01 related to investments for qualified affordable housing projects.

⁽⁴⁾ Tier 1 common equity ratio requirements were established under Basel III guidelines; therefore, this ratio is not applicable for periods prior to January 1, 2015.

Bank regulatory agencies approved regulatory capital guidelines ("Basel III") aimed at strengthening existing capital requirements for banking organizations. Under the final rules, minimum requirements increase for both the quantity and quality of capital held by BancShares. The rules include a new common equity Tier 1 capital to risk-weighted assets minimum ratio of 4.50 percent, raise the minimum ratio of Tier 1 capital to risk-weighted assets from 4.00 percent to 6.00 percent, require a minimum ratio of total capital to risk-weighted assets of 8.00 percent, and require a minimum Tier 1 leverage ratio of 4.00 percent. A new capital conservation buffer, comprised of common equity Tier 1 capital, was also established above the regulatory minimum capital requirements. This capital conservation buffer will be phased in beginning January 1, 2016 at 0.625 percent of risk-weighted assets and increase each subsequent year by an additional 0.625 percent until reaching its final level of 2.50 percent on January 1, 2019. Strict eligibility criteria for regulatory capital instruments were also implemented under the final rules. The final rules also revise the definition and calculation of Tier 1 capital, total capital, and risk-weighted assets.

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The phase-in period for the final rules became effective for BancShares on January 1, 2015, with full compliance of all the final rules' requirements phased in over a multi-year schedule, to be fully phased-in by January 1, 2019. As of June 30, 2015, BancShares continues to exceed minimum capital standards and FCB remains well-capitalized under the new rules.

The implementation of Basel III increased risk-weighted assets in comparison to December 31, 2014, resulting in a decrease in our Tier 1 capital ratio and total capital ratio at June 30, 2015 due to the phasing out of trust preferred capital securities from Tier 1 to Tier 2 capital. Risk-weighted assets have also increased due to organic loan growth including unfunded commitments, the expiration of loss share coverage on lower risk-weighted covered loans and a shift in mix to higher risk-weighted securities from cash. As aligned with expectations and incorporated in our capital planning process, BancShares remained well capitalized with a leverage capital ratio of 8.92 percent, Tier 1 risk-based capital ratio of 12.66 percent, common equity Tier 1 ratio of 12.52 and total risk-based capital ratio of 14.10 percent under Basel III guidelines at June 30, 2015.

BancShares had $32.1 million of trust preferred capital securities included in Tier 1 capital at June 30, 2015, compared to $128.5 million at December 31, 2014. The decrease during 2015 was due to the implementation of Basel III. Effective January 1, 2015, 75 percent of our trust preferred capital securities were excluded from Tier 1 capital, with the remaining 25 percent to be phased out on January 1, 2016.

RISK MANAGEMENT

Effective risk management is critical to our success. The board of directors has established a Risk Committee that provides oversight of enterprise-wide risk management. The Risk Committee is responsible for establishing risk appetite and supporting tolerances for credit, market and operational risk and ensuring that risk is managed within those tolerances, monitoring compliance with laws and regulations, reviewing the investment securities portfolio to ensure that portfolio returns are managed within market risk tolerance and monitoring our legal activity and associated risk. With guidance from and oversight by the Risk Committee, management continually refines and enhances its risk management policies and procedures to maintain effective risk management programs and processes.

Mortgage reform rules mandated by the Dodd-Frank Act became effective in January 2014, requiring lenders to make a reasonable, good faith determination of a borrower's ability to repay any consumer credit transaction secured by a dwelling and to limit prepayment penalties. Increased risks of legal challenge, private right of action and regulatory enforcement are presented by these rules. BancShares implemented the required system, process, procedural and product changes prior to the effective date of the new rules. We have also modified our underwriting standards to ensure compliance with the ability to repay requirements and have determined that we will continue to offer both qualified and non-qualified mortgage products. Historical performance and conservative underwriting of impacted loan portfolios mitigates the risks of non-compliance.

Credit risk management. Credit risk is the risk of not collecting payments pursuant to the contractual terms of loans, leases and investment securities. Loans and leases, other than acquired loans, were underwritten in accordance with our credit policies and procedures and are subject to periodic ongoing reviews. Acquired loans were recorded at fair value as of the acquisition date and are subject to periodic reviews to identify any further credit deterioration. Our independent credit review function conducts risk reviews and analyses of both acquired and originated loans to ensure compliance with credit policies and to monitor asset quality trends. The risk reviews include portfolio analysis by geographic location, industry, collateral type and product. We strive to identify potential problem loans as early as possible, to record charge-offs or write-downs as appropriate and to maintain an adequate ALLL that accounts for losses inherent in the loan and lease portfolio.

Interest rate risk management. Interest rate risk (IRR) results principally from assets and liabilities maturing or repricing at different points in time, from assets and liabilities repricing at the same point in time but in different amounts and from short-term and long-term interest rates changing in different magnitudes.

We assess our short term IRR by forecasting net interest income over 24 months under various interest rate scenarios and comparing those results to forecast net interest income assuming stable rates. Rate shock scenarios represent an instantaneous and parallel shift in rates, up or down, from a base yield curve. Due to the existence of contractual floors on certain loans, competitive pressures that constrain our ability to reduce deposit interest rates and the current extraordinarily low level of interest rates, it is unlikely that the rates on most interest-earning assets and interest-bearing liabilities can decline materially from current levels. Our shock projections incorporate assumptions of likely customer migration of low rate deposit instruments to intermediate term fixed rate instruments, such as certificates of deposit, as rates rise. Various other IRR scenarios

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are modeled to supplement shock scenarios. This may include interest rate ramps, changes in the shape of the yield curve and changes in the relationships of FCB rates to market rates.

Table 14

Net Interest Income Sensitivity Simulation Analysis

This table provides the impact on net interest income over 24 months resulting from various interest rate shock scenarios as of June 30, 2015 and December 31, 2014.

	Estimated increase (decrease) in net interest income
Change in interest rate (basis point)	June 30, 2015		December 31, 2014
+100	2.28	%	2.90	%
+200	1.70		4.10
+300	(2.55	)	2.40

Table 15

Economic Value of Equity Modeling Analysis

Long-term interest rate risk exposure is measured using the economic value of equity ("EVE") sensitivity analysis to study the impact of long-term cash flows on earnings and capital. EVE represents the difference between the sum of the present value of all asset cash flows and the sum of the present value of the liability cash flows. EVE sensitivity analysis involves discounting cash flows of balance sheet items under different interest rate scenarios. Cash flows will vary by interest rate scenario, resulting in variations in EVE. The base-case measurement and its sensitivity to shifts in the yield curve allow management to measure longer-term repricing and option risk in the balance sheet. This table presents the EVE profile as of June 30, 2015 and December 31, 2014.

	Estimated increase (decrease) in EVE
Change in interest rate (basis point)	June 30, 2015		December 31, 2014
+100	3.71	%	2.80	%
+200	2.48		2.20
+300	(2.58	)	(0.90	)

We do not typically utilize interest rate swaps, floors, collars or other derivative financial instruments to attempt to hedge our overall balance sheet rate sensitivity and interest rate risk. However, we have entered into an interest rate swap to synthetically convert the variable rate on $93.5 million of junior subordinated debentures to a fixed rate of 5.50 percent through June 2016. The interest rate swap qualifies as a hedge under GAAP. See Note M to the Consolidated Financial Statements, "Derivatives," for additional discussion of this interest rate swap.

Liquidity risk management. Liquidity risk is the risk that an institution will be unable to generate or obtain sufficient cash or its equivalents on a cost-effective basis to meet commitments as they fall due. The most common sources of liquidity risk arise from mismatches in the timing and value of on-balance sheet and off-balance sheet cash inflows and outflows. In general, on-balance sheet mismatches generate liquidity risk when the effective maturity of assets exceeds the effective maturity of liabilities. A commonly cited example of a balance sheet liquidity mismatch is when long-term loans (assets) are funded with short-term deposits (liabilities). Other forms of liquidity risk include market constraints on the ability to convert assets into cash at expected levels, an inability to access funding sources at sufficient levels at a reasonable cost, and changes in economic conditions or exposure to credit, market, operation, legal and reputation risks that can affect an institution’s liquidity risk profile.

We utilize various limit-based measures to monitor, measure and control liquidity risk across three different types of liquidity:

• Tactical liquidity measures the risk of a negative cash flow position whereby cash outflows exceed cash inflows over a short-term horizon out to nine weeks;

• Structural liquidity measures the amount by which illiquid assets are supported by long-term funding; and

• Contingent liquidity utilizes cash flow stress testing across three crisis scenarios to determine the adequacy of our liquidity.

We aim to maintain a diverse mix of liquidity sources to support the liquidity management function, while aiming to avoid funding concentrations by diversifying our external funding with respect to maturities, counterparties and nature. Our primary source of liquidity is our retail deposit book due to the generally stable balances and low cost it offers. Other primary sources of liquidity include cash in excess of our reserve requirement at the Federal Reserve Bank and various other corresponding bank

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accounts as well as unencumbered securities. This free liquidity totaled $4.15 billion at June 30, 2015 compared to $4.29 billion at December 31, 2014. Another principal source of available liquidity is advances from the FHLB of Atlanta. Outstanding FHLB advances equaled $300.3 million as of June 30, 2015, and we had sufficient collateral pledged to secure $2.09 billion of additional borrowings. Additionally, we maintain Federal Funds lines and other borrowing facilities that totaled $740.0 million at June 30, 2015.

CRITICAL ACCOUNTING POLICIES

There have been no significant changes in our Critical Accounting Policies as described in our 2014 Annual Report on Form 10-K.

FORWARD-LOOKING STATEMENTS

Statements in this Report and exhibits relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, expectations or beliefs about future events or results and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

Forward-looking statements may be identified by terms such as “may,” “will,” “should,” “could,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “forecasts,” “projects,” “potential” or “continue,” or similar terms or the negative of these terms, or other statements concerning opinions or judgments of BancShares’ management about future events.

Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors which include, but are not limited to, factors discussed in our Annual Report on Form 10-K and in other documents filed by us from time to time with the Securities and Exchange Commission.

Factors that could influence the accuracy of those forward-looking statements include, but are not limited to, the financial success or changing strategies of our customers, customer acceptance of our services, products and fee structure, the competitive nature of the financial services industry, our ability to compete effectively against other financial institutions in our banking markets, actions of government regulators, the level of market interest rates and our ability to manage our interest rate risk, changes in general economic conditions that affect our loan and lease portfolio, the abilities of our borrowers to repay their loans and leases, the values of real estate and other collateral, the impact of the FDIC-assisted transactions and other developments or changes in our business that we do not expect.

Actual results may differ materially from those expressed in or implied by any forward-looking statements. Except to the extent required by applicable law or regulation, BancShares undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

Market risk is the potential economic loss resulting from changes in market prices and interest rates. This risk can either result in diminished current fair values of financial instruments or reduced net interest income in future periods. As of June 30, 2015, BancShares’ market risk profile has not changed significantly from December 31, 2014, as discussed in the Form 10-K. Changes in fair value that result from movement in market rates cannot be predicted with any degree of certainty. Therefore, the impact that future changes in market rates will have on the fair values of financial instruments is uncertain.

Item 4. Controls and Procedures

BancShares' management, with the participation of its Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the design and operation of BancShares' disclosure controls and procedures as of the end of the period covered by this Quarterly Report, in accordance with Rule 13a-15 of the Securities Exchange Act of 1934 (Exchange Act). Based upon that evaluation, as of the end of the period covered by this report, the Chief Executive Officer and the Chief Financial Officer concluded that BancShares' disclosure controls and procedures were effective to provide reasonable assurance that it is able to record, process, summarize and report in a timely manner the information required to be disclosed in the reports it files under the Exchange Act.

No change in BancShares' internal control over financial reporting occurred during the second quarter of 2015 that had materially affected or is reasonably likely to materially affect, BancShares' internal control over financial reporting.

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PART II

Item 1. Legal Proceedings

BancShares and various subsidiaries have been named as defendants in various legal actions arising from our normal business activities in which damages in various amounts are claimed. Although the amount of any ultimate liability with respect to those other matters cannot be determined, in the opinion of management, any such liability will not have a material effect on BancShares’ consolidated financial statements.

Additional information relating to legal proceedings is set forth in Note L of BancShares' Notes to Unaudited Consolidated Financial Statements.

Item 1A. Risk Factors

Except as discussed below, there have been no material changes from the risk factors previously disclosed in our Form 10-K for the year ended December 31, 2014.

Additional risks and uncertainties that are not currently known or that management does not currently deem to be material could also have a material adverse impact on our financial condition, the results of our operations or our business. If such risks and uncertainties were to become reality or the likelihood of those risks was to increase, the market price of our common stock could decline significantly.

Certain risks continue to receive attention from regulators and financial statement users and therefore have been included in the 10-Q.

Completing the integration of BancShares and Bancorporation may be more difficult, costly, or time-consuming than expected, and the anticipated benefits and cost savings of the merger may not be fully realized.

BancShares merged with Bancorporation on October 1, 2014. The ultimate success of the merger will depend, in part, on our ability to realize the anticipated benefits and cost savings from combining and integrating the businesses, and to do so in a manner that permits growth opportunities and cost savings to be realized without materially disrupting existing customer relationships or decreasing revenues due to loss of customers. While significant strides have been made in combining the companies, the process is not yet completed. The remaining steps and events could result in the loss of key employees, the disruption of ongoing business, and inconsistencies in standards, controls, procedures and policies that affect adversely the our ability to maintain relationships with customers and employees or achieve the anticipated benefits and cost savings of the merger. The loss of key employees or delays or other problems in implementing planned system conversions could adversely affect our ability to successfully conduct business, which could have an adverse effect on our financial results and the value of our common stock. If we experience difficulties with the remaining integration processes, the anticipated benefits of the merger may not be realized fully or at all, or may take longer to realize than expected. As with any merger of financial institutions, there also may be business disruptions that cause us to lose customers or cause customers to remove their accounts from FCB and move their business to competing financial institutions. These integration matters could have an adverse effect on us. If we are not able to achieve our business objectives in the merger, the anticipated benefits and cost savings of the merger may not be realized fully or at all or may take longer to realize than expected.

Breaches of our and our vendor's information security systems could expose us to hacking and the loss of customer information, which could damage our business reputation and expose us to significant liability

We maintain and transmit large amounts of sensitive information electronically, including personal and financial information of our customers. In addition to our own systems, we also rely on external vendors to provide certain services and are, therefore,

exposed to their information security risk. While we seek to mitigate internal and external information security risks, the volume of business conducted through electronic devices continues to grow, and our computer systems and network infrastructure, as well as the systems of external vendors and customers, present security risks including susceptibility to hacking and/or identity theft.

We are also subject to risks arising from a broad range of attacks by doing business on the Internet, which arise from both domestic and international sources and seek to obtain customer information for fraudulent purposes or, in some cases, to disrupt business activities. Information security risks could result in reputational damage and lead to a material adverse impact on our business, financial condition and financial results of operations.

67

We continue to encounter technological change for which we expect to incur significant expense

The technological complexity necessary for a competitive array of financial products and services to customers continues to increase. Our future success requires that we maintain technology and associated facilities that will support our ability to meet the banking and other financial needs of our customers. In 2013, we undertook projects to modernize our systems and associated facilities, strengthen our business continuity and disaster recovery efforts, and reduce operational risk. As these projects have evolved over time, we have identified other areas that require improvements to infrastructure, and have accordingly expanded the projects’ scope. In 2014, we increased the total projected spend to approximately $130 million. Of this projected spend, $99.1 million has been incurred, with $87.9 million capitalized and $11.2 million expensed through June 30, 2015. As remaining projects are completed over the next several quarters, we expect expenses to increase as the projects are amortized over their expected useful lives. If the remaining projects' objectives are not achieved or if the cost of the projects materially exceeds the estimate, our business, financial condition and financial results could be adversely impacted.

We rely on external vendors

Third party vendors provide key components of our business infrastructure, including certain data processing and information services. A number of our vendors are large national entities with dominant market presence in their respective fields, and their services could be difficult to quickly replace in the event of failure or other interruption in service. Failures of certain vendors to provide services could adversely affect our ability to deliver products and services to our customers. External vendors also present information security risks. We monitor vendor risks, including the financial stability of critical vendors. The failure of a critical external vendor could disrupt our business and cause us to incur significant expense.

We face significant operational risks in our businesses

Safely conducting and growing our business requires that we create and maintain an appropriate operational and organizational control infrastructure. Operational risk can arise in numerous ways, including employee fraud, customer fraud, and control lapses in bank operations and information technology. Our dependence on our employees, and internal and third party automated systems, to record and process transactions may further increase the risk that technical failures or system-tampering will result in losses that are difficult to detect. We may be subject to disruptions of our operating systems arising from events that are wholly or partially beyond our control. Failure to maintain appropriate operational infrastructure and oversight can lead to loss of service to customers, legal actions and noncompliance with various laws and regulations. We have implemented internal controls to safeguard and maintain our operational and organizational infrastructure and information.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 6. Exhibits

68

31.1	Certification of Chief Executive Officer (filed herewith)
31.2	Certification of Chief Financial Officer (filed herewith)
32.1	Certification of Chief Executive Officer (filed herewith)
32.2	Certification of Chief Financial Officer (filed herewith)
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema
101.CAL	XBRL Taxonomy Extension Calculation Linkbase
101.DEF	XBRL Taxonomy Extension Definition Linkbase
101.LAB	XBRL Taxonomy Extension Label Linkbase
101.PRE	XBRL Taxonomy Extension Presentation Linkbase

69

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date:	August 5, 2015		FIRST CITIZENS BANCSHARES, INC.
			(Registrant)
		By:	/s/ CRAIG L. NIX
			Craig L. Nix
			Chief Financial Officer

70

EX-31.1

Exhibit 31.1

CERTIFICATION

I, Frank B. Holding, Jr., certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of First Citizens BancShares, Inc.;

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.

5. The registrant’s other certifying officer(s) 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: August 5, 2015

/s/ Frank B. Holding, Jr.

Frank B. Holding, Jr.

Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION

I, Craig L. Nix, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of First Citizens BancShares, Inc.;

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.

5. The registrant’s other certifying officer(s) 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: August 5, 2015

/s/ Craig L. Nix

Craig L. Nix

Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION

The undersigned hereby certifies that (i) the Form 10-Q filed by First Citizens BancShares, Inc. (the “Issuer”) for the period ended June 30, 2015, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and (ii) the information contained in that report fairly presents, in all material respects, the financial condition and results of operations of the Issuer on the dates and for the periods presented therein.

August 5, 2015

/s/ Frank B. Holding, Jr.

Frank B. Holding, Jr.

Chief Executive Officer

EX-32.2

Exhibit 32.2

CERTIFICATION

The undersigned hereby certifies that (i) the Form 10-Q filed by First Citizens BancShares, Inc. (the “Issuer”) for the period ended June 30, 2015, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and (ii) the information contained in that report fairly presents, in all material respects, the financial condition and results of operations of the Issuer on the dates and for the periods presented therein.

August 5, 2015

/s/ Craig L. Nix

Craig L. Nix

Chief Financial Officer

XML

Investments (Aggregate Values and Unrealized Gains and Losses) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Investment securities available for sale
Cost	$ 7,345,935	$ 7,163,574
Gross Unrealized Gains	22,163	20,589
Gross Unrealized Losses	17,904	12,246
Fair Value	7,350,194	7,171,917
Investment securities held to maturity
Cost	351	518
U. S. Treasury
Investment securities available for sale
Cost	2,198,027	2,626,900
Gross Unrealized Gains	8,832	2,922
Gross Unrealized Losses	0	152
Fair Value	2,206,859	2,629,670
Government Agency
Investment securities available for sale
Cost	774,962	908,362
Gross Unrealized Gains	1,667	702
Gross Unrealized Losses	385	247
Fair Value	776,244	908,817
Mortgage Backed Securities, Other [Member]
Investment securities available for sale
Cost	4,372,946	3,628,187
Gross Unrealized Gains	11,664	16,964
Gross Unrealized Losses	17,519	11,847
Fair Value	4,367,091	3,633,304
Investment securities held to maturity
Cost	351	518
Held To Maturity Securities Accumulated Unrecognized Holding Gain	14	26
Held To Maturity Securities Accumulated Unrecognized Holding Loss	0	0
Fair Value	$ 365	544
State, County and Municipal
Investment securities available for sale
Cost		125
Gross Unrealized Gains		1
Gross Unrealized Losses		0
Fair Value		$ 126

XML

Allowance for Loan and Lease Losses (Allocation of Allowance for Loan and Lease Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Unpaid principal balance	$ 2,025,905	$ 1,888,475	$ 2,025,905	$ 1,888,475
Allowance for loan and lease losses	208,317		208,317		$ 204,466
Loans and Leases Receivable, Net Amount	19,311,868		19,311,868		18,564,999
PCI Loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired loans which have adverse change in expected cash flows	570,600		570,600		285,600
Provision for Loan, Lease, and Other Losses	(1,275)	(9,529)	(4,139)	(11,802)
Financing Receivable, Allowance for Credit Losses, Write-downs	876	6,133	2,022	12,387
Recoveries	0	0	0	0
PCI Loans | Commercial | Construction and land development
Financing Receivable, Allowance for Credit Losses [Line Items]
Provision for Loan, Lease, and Other Losses	325	(77)	516	3,278
Financing Receivable, Allowance for Credit Losses, Write-downs	97	596	97	795
Recoveries	0	0	0	0
PCI Loans | Commercial | Mortgage
Financing Receivable, Allowance for Credit Losses [Line Items]
Provision for Loan, Lease, and Other Losses	(2,065)	(1,185)	(2,990)	(4,571)
Financing Receivable, Allowance for Credit Losses, Write-downs	383	4,503	717	8,020
Recoveries	0	0	0	0
PCI Loans | Commercial | Other commercial real estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Provision for Loan, Lease, and Other Losses	(125)	(797)	(6)	(947)
Financing Receivable, Allowance for Credit Losses, Write-downs	0	0	0	0
Recoveries	0	0	0	0
PCI Loans | Commercial | Commercial and industrial
Financing Receivable, Allowance for Credit Losses [Line Items]
Provision for Loan, Lease, and Other Losses	399	(1,729)	(632)	(2,065)
Financing Receivable, Allowance for Credit Losses, Write-downs	87	152	285	2,835
Recoveries	0	0	0	0
PCI Loans | Noncommerical | Construction and land development
Financing Receivable, Allowance for Credit Losses [Line Items]
Provision for Loan, Lease, and Other Losses	(31)	(583)	(183)	(682)
Financing Receivable, Allowance for Credit Losses, Write-downs	0	0	0	0
Recoveries	0	0	0	0
PCI Loans | Noncommerical | Consumer and Other
Financing Receivable, Allowance for Credit Losses [Line Items]
Provision for Loan, Lease, and Other Losses	169	49	621	58
Financing Receivable, Allowance for Credit Losses, Write-downs	6	6	462	23
Recoveries	0	0	0	0
PCI Loans | Noncommerical | Mortgage
Financing Receivable, Allowance for Credit Losses [Line Items]
Provision for Loan, Lease, and Other Losses	1,165	(2,176)	302	(4,476)
Financing Receivable, Allowance for Credit Losses, Write-downs	195	495	280	233
Recoveries	0	0	0	0
PCI Loans | Noncommerical | Revolving mortgage
Financing Receivable, Allowance for Credit Losses [Line Items]
Provision for Loan, Lease, and Other Losses	(1,112)	(3,031)	(1,767)	(2,397)
Financing Receivable, Allowance for Credit Losses, Write-downs	108	381	181	481
Recoveries	0	0	0	0
Non-PCI Loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Total impaired noncovered loans and leases	125,006		125,006		119,593
Unpaid principal balance	142,184		142,184		133,466
Impaired Financing Receivable, Related Allowance	12,592		12,592		15,717
ALLL for loans and leases individually evaluated for impairment	12,592		12,592		15,717
Impaired Financing Receivable, with Related Allowance, Recorded Investment	79,737		79,737		87,007
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	45,269		45,269		32,586
Financing Receivable, Individually Evaluated for Impairment	125,006		125,006		119,593
Average balance	129,943	126,318	123,745	129,039
Interest income recognized	1,224	1,131	2,310	2,643
Provision for Loan, Lease, and Other Losses	8,994	2,230	17,650	2,600
Financing Receivable, Allowance for Credit Losses, Write-downs	6,050	4,771	12,080	9,193
Recoveries	1,971	1,507	4,442	3,634
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	180,257		180,257		167,120
Financing Receivable, Collectively Evaluated for Impairment	18,271,940		18,271,940		17,463,374
Loans and Leases Receivable, Net Amount	18,396,946		18,396,946		17,582,967
Non-PCI Loans | Commercial | Construction and land development
Financing Receivable, Allowance for Credit Losses [Line Items]
Unpaid principal balance	8,514		8,514		6,945
ALLL for loans and leases individually evaluated for impairment	445		445		92
Impaired Financing Receivable, with Related Allowance, Recorded Investment	2,620		2,620		996
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	472		472		624
Financing Receivable, Individually Evaluated for Impairment	3,092		3,092		1,620
Average balance	3,134	2,592	3,093	1,413
Interest income recognized	35	28	70	31
Provision for Loan, Lease, and Other Losses	88	(1,135)	1,191	750
Financing Receivable, Allowance for Credit Losses, Write-downs	221	0	239	0
Recoveries	104	5	166	31
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	12,634		12,634		11,869
Financing Receivable, Collectively Evaluated for Impairment	544,059		544,059		491,513
Loans and Leases Receivable, Net Amount	547,151		547,151		493,133
Non-PCI Loans | Commercial | Mortgage
Financing Receivable, Allowance for Credit Losses [Line Items]
Unpaid principal balance	89,251		89,251		87,702
ALLL for loans and leases individually evaluated for impairment	7,744		7,744		8,610
Impaired Financing Receivable, with Related Allowance, Recorded Investment	53,733		53,733		57,324
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	29,822		29,822		25,479
Financing Receivable, Individually Evaluated for Impairment	83,555		83,555		82,803
Average balance	86,253	87,687	83,115	84,359
Interest income recognized	840	799	1,602	1,716
Provision for Loan, Lease, and Other Losses	(1,878)	(1,961)	(5,557)	(8,940)
Financing Receivable, Allowance for Credit Losses, Write-downs	47	272	280	440
Recoveries	323	145	1,084	1,252
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	72,692		72,692		76,579
Financing Receivable, Collectively Evaluated for Impairment	7,778,035		7,778,035		7,470,145
Loans and Leases Receivable, Net Amount	7,861,590		7,861,590		7,552,948
Non-PCI Loans | Commercial | Other commercial real estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Unpaid principal balance	848		848		913
ALLL for loans and leases individually evaluated for impairment	101		101		112
Impaired Financing Receivable, with Related Allowance, Recorded Investment	101		101		112
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	300		300		472
Financing Receivable, Individually Evaluated for Impairment	401		401		584
Average balance	403	1,981	477	2,731
Interest income recognized	0	7	1	60
Provision for Loan, Lease, and Other Losses	(227)	(155)	231	(229)
Financing Receivable, Allowance for Credit Losses, Write-downs	9	0	178	0
Recoveries	9	16	19	26
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	703		703		620
Financing Receivable, Collectively Evaluated for Impairment	287,813		287,813		244,291
Loans and Leases Receivable, Net Amount	288,214		288,214		244,875
Non-PCI Loans | Commercial | Commercial and industrial
Financing Receivable, Allowance for Credit Losses [Line Items]
Unpaid principal balance	15,816		15,816		12,197
ALLL for loans and leases individually evaluated for impairment	1,771		1,771		1,743
Impaired Financing Receivable, with Related Allowance, Recorded Investment	9,162		9,162		10,319
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	3,254		3,254		721
Financing Receivable, Individually Evaluated for Impairment	12,416		12,416		11,040
Average balance	14,088	11,208	12,220	15,690
Interest income recognized	146	113	249	353
Provision for Loan, Lease, and Other Losses	4,547	3,033	12,093	5,009
Financing Receivable, Allowance for Credit Losses, Write-downs	2,318	531	4,031	1,027
Recoveries	209	386	603	565
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	37,621		37,621		28,984
Financing Receivable, Collectively Evaluated for Impairment	2,187,175		2,187,175		1,977,894
Loans and Leases Receivable, Net Amount	2,199,591		2,199,591		1,988,934
Non-PCI Loans | Commercial | Lease financing
Financing Receivable, Allowance for Credit Losses [Line Items]
Unpaid principal balance	1,448		1,448		623
ALLL for loans and leases individually evaluated for impairment	146		146		150
Impaired Financing Receivable, with Related Allowance, Recorded Investment	1,177		1,177		319
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	271		271		304
Financing Receivable, Individually Evaluated for Impairment	1,448		1,448		623
Average balance	1,463	384	1,527	732
Interest income recognized	16	4	34	21
Provision for Loan, Lease, and Other Losses	408	176	419	(348)
Financing Receivable, Allowance for Credit Losses, Write-downs	6	14	21	72
Recoveries	11	20	22	36
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	4,560		4,560		4,136
Financing Receivable, Collectively Evaluated for Impairment	642,060		642,060		571,293
Loans and Leases Receivable, Net Amount	643,508		643,508		571,916
Non-PCI Loans | Commercial | Other
Financing Receivable, Allowance for Credit Losses [Line Items]
Unpaid principal balance	1,732		1,732		2,000
ALLL for loans and leases individually evaluated for impairment	17		17		1,972
Impaired Financing Receivable, with Related Allowance, Recorded Investment	1,732		1,732		2,000
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	0		0		0
Financing Receivable, Individually Evaluated for Impairment	1,732		1,732		2,000
Average balance	1,835	48	1,913	24
Interest income recognized	0	1	0	1
Provision for Loan, Lease, and Other Losses	(1,824)	163	(2,042)	435
Financing Receivable, Allowance for Credit Losses, Write-downs	0	5	0	13
Recoveries	31	0	46	0
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	1,171		1,171		1,212
Financing Receivable, Collectively Evaluated for Impairment	336,657		336,657		351,833
Loans and Leases Receivable, Net Amount	338,389		338,389		353,833
Non-PCI Loans | Noncommerical | Construction and land development
Financing Receivable, Allowance for Credit Losses [Line Items]
Unpaid principal balance	860		860		1,340
ALLL for loans and leases individually evaluated for impairment	0		0		71
Impaired Financing Receivable, with Related Allowance, Recorded Investment	0		0		1,077
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	860		860		263
Financing Receivable, Individually Evaluated for Impairment	860		860		1,340
Average balance	779	2,061	719	1,946
Interest income recognized	9	26	16	50
Provision for Loan, Lease, and Other Losses	74	(323)	192	254
Financing Receivable, Allowance for Credit Losses, Write-downs	0	23	22	94
Recoveries	3	2	71	64
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	1,133		1,133		821
Financing Receivable, Collectively Evaluated for Impairment	226,420		226,420		203,676
Loans and Leases Receivable, Net Amount	227,280		227,280		205,016
Non-PCI Loans | Noncommerical | Mortgage
Financing Receivable, Allowance for Credit Losses [Line Items]
Unpaid principal balance	17,118		17,118		15,746
ALLL for loans and leases individually evaluated for impairment	1,623		1,623		1,360
Impaired Financing Receivable, with Related Allowance, Recorded Investment	8,760		8,760		10,198
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	7,664		7,664		4,715
Financing Receivable, Individually Evaluated for Impairment	16,424		16,424		14,913
Average balance	16,819	15,592	16,092	15,824
Interest income recognized	135	107	260	284
Provision for Loan, Lease, and Other Losses	1,162	(1,557)	1,975	(948)
Financing Receivable, Allowance for Credit Losses, Write-downs	90	234	374	418
Recoveries	305	148	443	156
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	11,082		11,082		9,301
Financing Receivable, Collectively Evaluated for Impairment	2,580,640		2,580,640		2,478,145
Loans and Leases Receivable, Net Amount	2,597,064		2,597,064		2,493,058
Non-PCI Loans | Noncommerical | Revolving mortgage
Financing Receivable, Allowance for Credit Losses [Line Items]
Unpaid principal balance	5,403		5,403		4,933
ALLL for loans and leases individually evaluated for impairment	168		168		1,052
Impaired Financing Receivable, with Related Allowance, Recorded Investment	1,458		1,458		3,675
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	2,503		2,503		0
Financing Receivable, Individually Evaluated for Impairment	3,961		3,961		3,675
Average balance	4,015	3,779	3,501	4,262
Interest income recognized	23	29	39	76
Provision for Loan, Lease, and Other Losses	31	1,252	(431)	2,605
Financing Receivable, Allowance for Credit Losses, Write-downs	616	1,064	1,409	2,324
Recoveries	346	201	480	277
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	17,122		17,122		17,598
Financing Receivable, Collectively Evaluated for Impairment	2,525,975		2,525,975		2,558,125
Loans and Leases Receivable, Net Amount	2,529,936		2,529,936		2,561,800
Non-PCI Loans | Noncommerical | Consumer
Financing Receivable, Allowance for Credit Losses [Line Items]
Unpaid principal balance	1,194		1,194		1,067
ALLL for loans and leases individually evaluated for impairment	577		577		555
Impaired Financing Receivable, with Related Allowance, Recorded Investment	994		994		987
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	123		123		8
Financing Receivable, Individually Evaluated for Impairment	1,117		1,117		995
Average balance	1,154	986	1,088	2,058
Interest income recognized	20	17	39	51
Provision for Loan, Lease, and Other Losses	6,613	2,737	9,579	4,012
Financing Receivable, Allowance for Credit Losses, Write-downs	2,743	2,628	5,526	4,805
Recoveries	630	$ 584	1,508	$ 1,227
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	21,539		21,539		16,000
Financing Receivable, Collectively Evaluated for Impairment	1,163,106		1,163,106		1,116,459
Loans and Leases Receivable, Net Amount	$ 1,164,223		$ 1,164,223		$ 1,117,454

XML

Loans and Leases (Aging Of The Outstanding Loans and Leases By Class Excluding Loans Impaired At Acquisition Date) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Financing Receivable, Recorded Investment, Past Due [Line Items]
PCI loans	$ 1,123,239	$ 1,186,498	$ 1,109,933	$ 1,029,426
Commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
PCI loans	697,045	726,123
Non-PCI loans	11,878,443	11,205,639
Commercial | Construction and land development
Financing Receivable, Recorded Investment, Past Due [Line Items]
PCI loans	48,208	78,079
Non-PCI loans	547,151	493,133
Commercial | Mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
PCI loans	611,505	577,518
Non-PCI loans	7,861,590	7,552,948
Commercial | Other commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
PCI loans	14,353	40,193
Non-PCI loans	288,214	244,875
Commercial | Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
PCI loans	20,382	27,254
Non-PCI loans	2,199,591	1,988,934
Commercial | Lease financing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-PCI loans	643,508	571,916
Commercial | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
PCI loans	2,597	3,079
Non-PCI loans	338,389	353,833
Noncommerical
Financing Receivable, Recorded Investment, Past Due [Line Items]
PCI loans	426,194	460,375
Noncommerical | Construction and land development
Financing Receivable, Recorded Investment, Past Due [Line Items]
PCI loans	345	912
Noncommerical | Mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
PCI loans	358,307	382,340
Noncommerical | Revolving mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
PCI loans	64,340	74,109
Noncommerical | Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
PCI loans	3,202	3,014
PCI Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
PCI loans	1,123,239	1,186,498
PCI Loans | Noncommerical
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current loans	372,625	398,225
PCI Loans | Noncommerical | Construction and land development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current loans	314	506
PCI Loans | Noncommerical | Mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current loans	311,880	326,589
PCI Loans | Noncommerical | Revolving mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current loans	57,529	68,548
PCI Loans | Noncommerical | Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current loans	2,902	2,582
Non-PCI Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	106,866	101,467
Current loans	18,290,080	17,481,500
Non-PCI loans	18,396,946	17,582,967
Non-PCI Loans | Commercial | Construction and land development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	3,165	1,133
Current loans	543,986	492,000
Non-PCI loans	547,151	493,133
Non-PCI Loans | Commercial | Mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	31,475	24,210
Current loans	7,830,115	7,528,738
Non-PCI loans	7,861,590	7,552,948
Non-PCI Loans | Commercial | Other commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	237	378
Current loans	287,977	244,497
Non-PCI loans	288,214	244,875
Non-PCI Loans | Commercial | Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	8,335	4,766
Current loans	2,191,256	1,984,168
Non-PCI loans	2,199,591	1,988,934
Non-PCI Loans | Commercial | Lease financing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	1,559	1,641
Current loans	641,949	570,275
Non-PCI loans	643,508	571,916
Non-PCI Loans | Commercial | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	548	2,112
Current loans	337,841	351,721
Non-PCI loans	338,389	353,833
Non-PCI Loans | Noncommerical
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current loans	6,456,956	6,310,101
Non-PCI loans	6,518,503	6,377,328
Non-PCI Loans | Noncommerical | Construction and land development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	2,504	2,672
Current loans	224,776	202,344
Non-PCI loans	227,280	205,016
Non-PCI Loans | Noncommerical | Mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	37,190	38,261
Current loans	2,559,874	2,454,797
Non-PCI loans	2,597,064	2,493,058
Non-PCI Loans | Noncommerical | Revolving mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	13,778	18,993
Current loans	2,516,158	2,542,807
Non-PCI loans	2,529,936	2,561,800
Non-PCI Loans | Noncommerical | Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	8,075	7,301
Current loans	1,156,148	1,110,153
Non-PCI loans	1,164,223	1,117,454
90 Days or greater | PCI Loans | Noncommerical
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	33,483	38,723
90 Days or greater | PCI Loans | Noncommerical | Construction and land development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	0	406
90 Days or greater | PCI Loans | Noncommerical | Mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	31,110	34,246
90 Days or greater | PCI Loans | Noncommerical | Revolving mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	2,230	3,811
90 Days or greater | PCI Loans | Noncommerical | Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	143	260
90 Days or greater | Non-PCI Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	33,198	24,598
90 Days or greater | Non-PCI Loans | Commercial | Construction and land development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	921	330
90 Days or greater | Non-PCI Loans | Commercial | Mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	14,676	8,061
90 Days or greater | Non-PCI Loans | Commercial | Other commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	188	102
90 Days or greater | Non-PCI Loans | Commercial | Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	1,050	378
90 Days or greater | Non-PCI Loans | Commercial | Lease financing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	308	2
90 Days or greater | Non-PCI Loans | Commercial | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	210	0
90 Days or greater | Non-PCI Loans | Noncommerical
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	15,845	15,725
90 Days or greater | Non-PCI Loans | Noncommerical | Construction and land development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	493	202
90 Days or greater | Non-PCI Loans | Noncommerical | Mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	9,033	8,955
90 Days or greater | Non-PCI Loans | Noncommerical | Revolving mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	5,232	5,463
90 Days or greater | Non-PCI Loans | Noncommerical | Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	1,087	1,105
60 to 89 Days past due | PCI Loans | Noncommerical
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	4,074	10,443
60 to 89 Days past due | PCI Loans | Noncommerical | Construction and land development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	0	0
60 to 89 Days past due | PCI Loans | Noncommerical | Mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	3,882	10,073
60 to 89 Days past due | PCI Loans | Noncommerical | Revolving mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	147	345
60 to 89 Days past due | PCI Loans | Noncommerical | Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	45	25
60 to 89 Days past due | Non-PCI Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	17,416	19,548
60 to 89 Days past due | Non-PCI Loans | Commercial | Construction and land development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	612	283
60 to 89 Days past due | Non-PCI Loans | Commercial | Mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	4,896	4,782
60 to 89 Days past due | Non-PCI Loans | Commercial | Other commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	0	70
60 to 89 Days past due | Non-PCI Loans | Commercial | Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	1,010	1,545
60 to 89 Days past due | Non-PCI Loans | Commercial | Lease financing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	90	8
60 to 89 Days past due | Non-PCI Loans | Commercial | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	0	1,966
60 to 89 Days past due | Non-PCI Loans | Noncommerical
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	10,808	10,894
60 to 89 Days past due | Non-PCI Loans | Noncommerical | Construction and land development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	469	824
60 to 89 Days past due | Non-PCI Loans | Noncommerical | Mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	6,039	6,018
60 to 89 Days past due | Non-PCI Loans | Noncommerical | Revolving mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	2,372	2,433
60 to 89 Days past due | Non-PCI Loans | Noncommerical | Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	1,928	1,619
30 to 59 Days past due | PCI Loans | Noncommerical
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	16,012	12,984
30 to 59 Days past due | PCI Loans | Noncommerical | Construction and land development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	31	0
30 to 59 Days past due | PCI Loans | Noncommerical | Mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	11,435	11,432
30 to 59 Days past due | PCI Loans | Noncommerical | Revolving mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	4,434	1,405
30 to 59 Days past due | PCI Loans | Noncommerical | Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	112	147
30 to 59 Days past due | Non-PCI Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	56,252	57,321
30 to 59 Days past due | Non-PCI Loans | Commercial | Construction and land development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	1,632	520
30 to 59 Days past due | Non-PCI Loans | Commercial | Mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	11,903	11,367
30 to 59 Days past due | Non-PCI Loans | Commercial | Other commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	49	206
30 to 59 Days past due | Non-PCI Loans | Commercial | Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	6,275	2,843
30 to 59 Days past due | Non-PCI Loans | Commercial | Lease financing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	1,161	1,631
30 to 59 Days past due | Non-PCI Loans | Commercial | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	338	146
30 to 59 Days past due | Non-PCI Loans | Noncommerical
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	34,894	40,608
30 to 59 Days past due | Non-PCI Loans | Noncommerical | Construction and land development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	1,542	1,646
30 to 59 Days past due | Non-PCI Loans | Noncommerical | Mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	22,118	23,288
30 to 59 Days past due | Non-PCI Loans | Noncommerical | Revolving mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	6,174	11,097
30 to 59 Days past due | Non-PCI Loans | Noncommerical | Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	$ 5,060	$ 4,577

XML

Employee Benefit Plans (Narrative) (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total	Total
BancShares Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Contributions by Employer	$ 0.0	$ 0.0
Bancorporation Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Contributions by Employer	$ 0.0	$ 0.0

XML

Allowance for Loan and Lease Losses (Troubled Debt Restructuring) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015 USD ($) loans	Jun. 30, 2014 USD ($) loans	Jun. 30, 2015 USD ($) loans	Jun. 30, 2014 USD ($) loans	Dec. 31, 2014 USD ($)
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	$ 151,577		$ 151,577		$ 151,479
Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	48	35	124	120
Financing Receivable, Modifications, Recorded Investment	$ 108,247		$ 108,247		104,607
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 4,177	$ 6,139	$ 15,317	$ 20,657
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	5	6	12	11
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 217	$ 2,057	$ 2,940	$ 2,944
PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	1	31	9	67
Financing Receivable, Modifications, Recorded Investment	$ 43,330		$ 43,330		46,872
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 60	$ 5,123	$ 623	$ 10,614
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	2	0	8
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 76	$ 0	$ 253
Commercial
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	115,185		115,185		118,166
Commercial | Construction and land development
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	4,133		4,133		3,037
Commercial | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	95,647		95,647		101,121
Commercial | Other commercial real estate
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	2,299		2,299		2,823
Commercial | Commercial and industrial
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	11,659		11,659		10,528
Commercial | Lease financing
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,447		1,447		623
Commercial | Other
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	0		0		34
Noncommerical
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	36,392		36,392		33,313
Noncommerical | Construction and land development
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	860		860		1,391
Noncommerical | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	28,931		28,931		27,252
Noncommerical | Revolving mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	3,773		3,773		3,675
Noncommerical | Consumer and Other
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	2,828		2,828		995
Accruing
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	127,582		127,582		135,963
Accruing | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	86,227		86,227		91,316
Accruing | PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	41,355		41,355		44,647
Accruing | Commercial
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	98,268		98,268		107,305
Accruing | Commercial | Construction and land development
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	3,500		3,500		2,591
Accruing | Commercial | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	83,059		83,059		92,184
Accruing | Commercial | Other commercial real estate
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,898		1,898		2,374
Accruing | Commercial | Commercial and industrial
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	8,689		8,689		9,864
Accruing | Commercial | Lease financing
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,122		1,122		258
Accruing | Commercial | Other
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	0		0		34
Accruing | Noncommerical
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	29,314		29,314		28,658
Accruing | Noncommerical | Construction and land development
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	860		860		1,391
Accruing | Noncommerical | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	23,268		23,268		22,597
Accruing | Noncommerical | Revolving mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	2,412		2,412		3,675
Accruing | Noncommerical | Consumer and Other
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	2,774		2,774		995
Nonaccruing
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	23,995		23,995		15,516
Nonaccruing | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	22,020		22,020		13,291
Nonaccruing | PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,975		1,975		2,225
Nonaccruing | Commercial
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	16,917		16,917		10,861
Nonaccruing | Commercial | Construction and land development
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	633		633		446
Nonaccruing | Commercial | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	12,588		12,588		8,937
Nonaccruing | Commercial | Other commercial real estate
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	401		401		449
Nonaccruing | Commercial | Commercial and industrial
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	2,970		2,970		664
Nonaccruing | Commercial | Lease financing
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	325		325		365
Nonaccruing | Commercial | Other
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	0		0		0
Nonaccruing | Noncommerical
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	7,078		7,078		4,655
Nonaccruing | Noncommerical | Construction and land development
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	0		0		0
Nonaccruing | Noncommerical | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	5,663		5,663		4,655
Nonaccruing | Noncommerical | Revolving mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	1,361		1,361		0
Nonaccruing | Noncommerical | Consumer and Other
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Recorded Investment	$ 54		$ 54		$ 0
Interest only period provided | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	2	3	3	10
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 69	$ 766	$ 1,941	$ 2,986
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	1	1	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 494	$ 1,872	$ 708
Interest only period provided | PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			0	2
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 0	$ 0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 44
Interest only period provided | Commercial | Mortgage | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	2	2	2	6
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 69	$ 720	$ 69	$ 2,600
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	1	0	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 494	$ 0	$ 708
Interest only period provided | Commercial | Mortgage | PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			0	2
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 0	$ 0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 44
Interest only period provided | Commercial | Commercial and industrial | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			1	1
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 1,872	$ 196
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			1	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 1,872	$ 0
Interest only period provided | Commercial | Lease financing | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			0	2
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 0	$ 144
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Interest only period provided | Commercial | Other | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	1	0	1
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 46	$ 0	$ 46
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Loan term extension | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	2	13	8	27
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 840	$ 2,530	$ 1,597	$ 5,705
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	1	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 212	$ 0
Loan term extension | PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	1	0	2
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 53	$ 0	$ 329
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	1	0	1
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 53	$ 0	$ 53
Loan term extension | Commercial | Construction and land development | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	2	1	2
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 191	$ 212	$ 191
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	1	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 212	$ 0
Loan term extension | Commercial | Construction and land development | PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			0	1
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 0	$ 276
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Loan term extension | Commercial | Mortgage | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	2	0	5	5
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 840	$ 0	$ 1,371	$ 2,584
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Loan term extension | Commercial | Commercial and industrial | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	4	0	4
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 2,069	$ 0	$ 2,069
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Loan term extension | Commercial | Lease financing | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			0	2
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 0	$ 224
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Loan term extension | Noncommerical | Consumer | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	1	1	3
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 10	$ 5	$ 44
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Loan term extension | Noncommerical | Mortgage | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	6	0	11
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 260	$ 0	$ 593
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Loan term extension | Noncommerical | Mortgage | PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	1	0	1
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 53	$ 0	$ 53
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	1	0	1
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 53	$ 0	$ 53
Loan term extension | Noncommerical | Revolving mortgage | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			1	0
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 9	$ 0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Below market interest rate | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	31	14	83	63
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 2,968	$ 2,783	$ 10,026	$ 9,804
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	2	5	5	7
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 157	$ 1,563	$ 698	$ 2,151
Below market interest rate | PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	1	30	8	37
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 60	$ 5,070	$ 545	$ 8,457
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	1	0	3
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 23	$ 0	$ 62
Below market interest rate | Commercial | Construction and land development | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	3	0	5	10
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 251	$ 0	$ 296	$ 363
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Below market interest rate | Commercial | Construction and land development | PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	1	0	2
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 273	$ 0	$ 308
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Below market interest rate | Commercial | Mortgage | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	6	3	16	15
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 1,510	$ 1,991	$ 5,226	$ 6,591
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	5	1	6
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 1,563	$ 498	$ 2,011
Below market interest rate | Commercial | Mortgage | PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	5	0	9
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 1,811	$ 0	$ 5,060
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	1
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 39
Below market interest rate | Commercial | Other commercial real estate | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	1	0	1
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 365	$ 0	$ 365
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Below market interest rate | Commercial | Commercial and industrial | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	4	0	7	6
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 521	$ 0	$ 673	$ 143
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	1	0	1	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 142	$ 0	$ 142	$ 0
Below market interest rate | Commercial | Commercial and industrial | PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	1	0	1
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 23	$ 0	$ 23
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Below market interest rate | Commercial | Other | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			1	0
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 1,732	$ 0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Below market interest rate | Noncommerical | Construction and land development | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			2	8
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 253	$ 1,248
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Below market interest rate | Noncommerical | Consumer | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	3	0	7	0
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 40	$ 0	$ 85	$ 0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Below market interest rate | Noncommerical | Mortgage | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	15	10	42	18
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 646	$ 427	$ 1,698	$ 820
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	1	0	3	1
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 15	$ 0	$ 58	$ 140
Below market interest rate | Noncommerical | Mortgage | PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	1	23	8	25
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 60	$ 2,963	$ 545	$ 3,066
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	1	0	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 23	$ 0	$ 23
Below market interest rate | Noncommerical | Revolving mortgage | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			3	5
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 63	$ 274
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Discharged from bankruptcy | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	13	5	30	20
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 300	$ 60	$ 1,753	$ 2,162
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	3	0	5	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 60	$ 0	$ 158	$ 85
Discharged from bankruptcy | PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	26	1	26
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 1,828	$ 78	$ 1,828
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	2	0	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 94	$ 0	$ 94
Discharged from bankruptcy | Commercial | Mortgage | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			1	1
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 622	$ 983
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Discharged from bankruptcy | Commercial | Commercial and industrial | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	1	0	1	0
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 17	$ 0	$ 17	$ 0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Discharged from bankruptcy | Noncommerical | Construction and land development | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			0	1
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 0	$ 62
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Discharged from bankruptcy | Noncommerical | Consumer | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	3	2	4	3
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 45	$ 8	$ 48	$ 26
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Discharged from bankruptcy | Noncommerical | Mortgage | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	2	1	8	8
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 35	$ 13	$ 434	$ 649
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 85
Discharged from bankruptcy | Noncommerical | Mortgage | PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	26	1	26
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 1,828	$ 78	$ 1,828
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	2	0	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 94	$ 0	$ 94
Discharged from bankruptcy | Noncommerical | Revolving mortgage | Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	7	2	16	7
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 203	$ 39	$ 632	$ 442
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	3	0	5	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 60	$ 0	$ 158	$ 0

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Loans and Leases (Loans Acquired By Loan Class) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	$ 1,123,239	$ 1,186,498	$ 1,109,933	$ 1,029,426
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	697,045	726,123
Commercial | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	48,208	78,079
Commercial | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	611,505	577,518
Commercial | Other commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	14,353	40,193
Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	20,382	27,254
Commercial | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	2,597	3,079
Noncommerical
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	426,194	460,375
Noncommerical | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	345	912
Noncommerical | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	358,307	382,340
Noncommerical | Revolving mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	64,340	74,109
Noncommerical | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	$ 3,202	$ 3,014

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Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2015

BancShares Plan

Defined Benefit Plan Disclosure [Line Items]

Schedule of Net Benefit Costs

BancShares Plan

For the three and six months ended June 30, 2015 and 2014, the components of net periodic benefit cost are as follows:

	Three months ended June 30						Six months ended June 30
(Dollars in thousands)	2015			2014			2015			2014
Service cost	$	3,603		$	2,785		$	7,203		$	6,166
Interest cost	6,750			6,251			13,498			12,807
Expected return on assets	(8,299		)	(8,340		)	(16,594		)	(16,152		)
Amortization of prior service cost	52			52			105			105
Amortization of net actuarial loss	2,835			1,546			5,668			3,092
Net periodic benefit cost	$	4,941		$	2,294		$	9,880		$	6,018

Bancorporation Plan

Defined Benefit Plan Disclosure [Line Items]

Schedule of Net Benefit Costs

Bancorporation Plan

For the three and six months ended June 30, 2015, the components of net periodic benefit cost are as follows:

	Three months ended June 30			Six months ended June 30
(Dollars in thousands)	2015			2015
Service cost	$	932		$	1,865
Interest cost	1,627			3,255
Expected return on assets	(2,870		)	(5,739		)
Amortization of prior service cost	—			—
Amortization of net actuarial loss	—			—
Net periodic benefit cost	$	(311	)	$	(619	)

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Derivatives (Schedule Of Interest Rate Swaps) (Details) - 2011 Interest Rate Swap - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Derivative [Line Items]
Estimated fair value of liability	$ 3,052	$ 4,337
Derivative, Notional Amount	$ 93,500	$ 93,500

XML

Other Real Estate Owned (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Real Estate Properties [Line Items]
Mortgage Loans in Process of Foreclosure, Amount	$ 18,100		$ 24,800
Covered
Beginning balance	22,982	$ 47,081
Additions	5,833	16,186
Sales	(12,962)	(18,522)
Writedowns	(857)	(4,609)
Other Real Estate Covered Transfers	(2,106)
Ending balance	12,890	40,136
Noncovered
Beginning balance	70,454	36,898
Additions	24,558	8,894
Sales	(34,324)	(19,150)
Writedowns	(2,436)	(3,082)
Other Real Estate Non Covered Transfers	2,106
Ending balance	60,358	35,151
Total
Beginning balance	93,436	83,979
Additions	30,391	25,080
Sales	(47,286)	(37,672)
Writedowns	(3,293)	(7,691)
Other Real Estate Transfers	0
Ending balance	73,248	75,287
Mortgage
Total
Beginning balance	29,048
Ending balance	$ 17,641
1st Financial
Covered
Additions		0
Noncovered
Additions		11,591
Total
Additions		$ 11,591

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Accumulated Other Comprehensive Loss (Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Securities gains (losses)		$ 147	$ 0	$ 5,273	$ 0
Reclassification adjustment for losses included in income before income taxes		2,887	1,598	5,773	3,197
Amounts reclassified from accumulated other comprehensive income, net of tax		1,691	976	305	1,953
Unrealized Loss on Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from accumulated other comprehensive income, net of tax	[1]	0	0	0	0
Unrealized Gains on Investment Securities Available for Sale
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Securities gains (losses)		147		5,273
Income taxes		(74)		(2,051)
Amounts reclassified from accumulated other comprehensive income, net of tax	[1]	(73)	0	(3,222)	0
Defined Benefit Pension Items
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Employee Benefits, prior service costs		(52)	(52)	(105)	(105)
Reclassification adjustment for losses included in income before income taxes		(2,835)	(1,546)	(5,668)	(3,092)
Total before taxes		(2,887)	(1,598)	(5,773)	(3,197)
Income taxes		1,123	622	2,246	1,244
Amounts reclassified from accumulated other comprehensive income, net of tax	[1]	$ 1,764	$ 976	$ 3,527	$ 1,953

[1] All amounts are net of tax.

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Commitments and Contingencies (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Guarantor Obligations [Line Items]
FDIC Indemnification Asset	$ 5,808	$ 21,340	$ 28,701	$ 49,959	$ 74,784	$ 93,397
FDIC loss share payable	122,038		116,535
Commitments to Extend Credit
Guarantor Obligations [Line Items]
Unused Commitments to Extend Credit	7,720,000		7,190,000
Qualified Affordable Housing Project Investments, Commitment	32,900		16,800
Standby Letters of Credit
Guarantor Obligations [Line Items]
Guarantor obligations amount	$ 77,600		77,400
Recourse Obligation on Mortgage Loans Sold
Guarantor Obligations [Line Items]
Recourse Period, Maximum1	120 days
Obligation to Repurchase Receivables Sold
Guarantor Obligations [Line Items]
Reserve for estimated losses arising from repurchase of loans	$ 3,100		$ 3,200

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Investments (Tables)

6 Months Ended

Jun. 30, 2015

Investments [Abstract]

Aggregate Values And Unrealized Gains And Losses Of Investment Securities

The amortized cost and fair value of investment securities classified as available for sale and held to maturity at June 30, 2015 and December 31, 2014, are as follows:

	June 30, 2015
(Dollars in thousands)	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Investment securities available for sale
U.S. Treasury	$	2,198,027	$	8,832	$	—	$	2,206,859
Government agency	774,962		1,667		385		776,244
Mortgage-backed securities	4,372,946		11,664		17,519		4,367,091
Total investment securities available for sale	$	7,345,935	$	22,163	$	17,904	$	7,350,194
	December 31, 2014
	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
U.S. Treasury	$	2,626,900	$	2,922	$	152	$	2,629,670
Government agency	908,362		702		247		908,817
Mortgage-backed securities	3,628,187		16,964		11,847		3,633,304
Municipal securities	125		1		—		126
Total investment securities available for sale	$	7,163,574	$	20,589	$	12,246	$	7,171,917
	June 30, 2015
	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Investment securities held to maturity
Mortgage-backed securities	$	351	$	14	$	—	$	365
	December 31, 2014
	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Mortgage-backed securities	$	518	$	26	$	—	$	544

Investment Securities Maturity Information

The following table provides the amortized cost and fair value by contractual maturity. Expected maturities will differ from contractual maturities on certain securities because borrowers and issuers may have the right to call or prepay obligations with or without prepayment penalties. Repayments of mortgage-backed securities are dependent on the repayments of the underlying loan balances.

	June 30, 2015				December 31, 2014
(Dollars in thousands)	Cost		Fair value		Cost		Fair value
Investment securities available for sale
Non-amortizing securities maturing in:
One year or less	$	412,357	$	412,720	$	447,866	$	447,992
One through five years	2,560,632		2,570,383		3,087,521		3,090,621
Mortgage-backed securities	4,372,946		4,367,091		3,628,187		3,633,304
Total investment securities available for sale	$	7,345,935	$	7,350,194	$	7,163,574	$	7,171,917
Investment securities held to maturity
Mortgage-backed securities held to maturity	$	351	$	365	$	518	$	544

Securities Gains (Losses)

For each period presented, securities gains (losses) included the following:

	Three months ended June 30					Six months ended June 30
(Dollars in thousands)	2015			2014		2015			2014
Gross gains on sales of investment securities available for sale	$	151		$	—	$	5,286		$	—
Gross losses on sales of investment securities available for sale	(4		)	—		(13		)	—
Total net securities gain	$	147		$	—	$	5,273		$	—

Investment Securities With Unrealized Losses

The following table provides information regarding securities with unrealized losses as of June 30, 2015 and December 31, 2014.

	June 30, 2015
	Less than 12 months				12 months or more				Total
(Dollars in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Investment securities available for sale:
Government agency	90,567		385		—		—		90,567		385
Mortgage-backed securities	1,872,344		12,736		296,170		4,783		2,168,514		17,519
Total	$	1,962,911	$	13,121	$	296,170	$	4,783	$	2,259,081	$	17,904
	December 31, 2014
	Less than 12 months				12 months or more				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Investment securities available for sale:
U.S. Treasury	$	338,612	$	151	$	1,015	$	1	$	339,627	$	152
Government agency	261,288		247		—		—		261,288		247
Mortgage-backed securities	573,374		1,805		831,405		10,042		1,404,779		11,847
Total	$	1,173,274	$	2,203	$	832,420	$	10,043	$	2,005,694	$	12,246

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Loans and Leases (Changes In Carrying Value Of Acquired Impaired Loans) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Feb. 13, 2015	Dec. 31, 2014	Jan. 01, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired Financing Receivable, Unpaid Principal Balance	$ 2,025,905	$ 1,888,475
Carrying Value of Acquired Impaired Loans [Roll Forward]
Beginning balance	1,186,498	1,029,426
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value			$ 154,496		$ 316,327
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Accretion	59,182	60,660
Reductions for repayments, foreclosures and changes in carrying value, net of accretion	(276,937)	(296,480)
Ending balance	1,123,239	$ 1,109,933
Loans on the Cost Recovery Method
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans on cost recovery method	12,200			$ 33,400
Commercial
Carrying Value of Acquired Impaired Loans [Roll Forward]
Beginning balance	726,123
Ending balance	697,045
Noncommerical
Carrying Value of Acquired Impaired Loans [Roll Forward]
Beginning balance	460,375
Ending balance	426,194
Construction and land development | Commercial
Carrying Value of Acquired Impaired Loans [Roll Forward]
Beginning balance	78,079
Ending balance	48,208
Construction and land development | Noncommerical
Carrying Value of Acquired Impaired Loans [Roll Forward]
Beginning balance	912
Ending balance	345
Mortgage | Commercial
Carrying Value of Acquired Impaired Loans [Roll Forward]
Beginning balance	577,518
Ending balance	611,505
Mortgage | Noncommerical
Carrying Value of Acquired Impaired Loans [Roll Forward]
Beginning balance	382,340
Ending balance	358,307
Other commercial real estate | Commercial
Carrying Value of Acquired Impaired Loans [Roll Forward]
Beginning balance	40,193
Ending balance	14,353
Commercial and industrial | Commercial
Carrying Value of Acquired Impaired Loans [Roll Forward]
Beginning balance	27,254
Ending balance	20,382
Consumer | Noncommerical
Carrying Value of Acquired Impaired Loans [Roll Forward]
Beginning balance	3,014
Ending balance	$ 3,202
Capitol City Bank and Trust
Carrying Value of Acquired Impaired Loans [Roll Forward]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value			154,496
Capitol City Bank and Trust | Commercial
Carrying Value of Acquired Impaired Loans [Roll Forward]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value			139,894
Capitol City Bank and Trust | Noncommerical
Carrying Value of Acquired Impaired Loans [Roll Forward]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value			14,602
Capitol City Bank and Trust | Construction and land development | Commercial
Carrying Value of Acquired Impaired Loans [Roll Forward]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value			4,116
Capitol City Bank and Trust | Mortgage | Commercial
Carrying Value of Acquired Impaired Loans [Roll Forward]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value			129,732
Capitol City Bank and Trust | Mortgage | Noncommerical
Carrying Value of Acquired Impaired Loans [Roll Forward]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value			13,251
Capitol City Bank and Trust | Other commercial real estate | Commercial
Carrying Value of Acquired Impaired Loans [Roll Forward]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value			3,202
Capitol City Bank and Trust | Commercial and industrial | Commercial
Carrying Value of Acquired Impaired Loans [Roll Forward]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value			2,844
Capitol City Bank and Trust | Consumer | Noncommerical
Carrying Value of Acquired Impaired Loans [Roll Forward]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value			$ 1,351

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Investments (Narrative) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2015 USD ($) investments	Jun. 30, 2014 USD ($)	Jun. 30, 2015 USD ($) investments	Jun. 30, 2014 USD ($)	Dec. 31, 2014 USD ($)
Investments [Abstract]
Securities gains (losses)	$ 147,000	$ 0	$ 5,273,000	$ 0
Unrealized Losses Related to Marketability of Securities or Issuer's Ability to Honor Redemption Obligations	0		0		$ 0
Fair Value, 12 months or more in unrealized loss position	296,170,000		296,170,000		832,420,000
Unrealized Losses, Greater than 12 months	$ 4,783,000		$ 4,783,000		10,043,000
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | investments	38		38
Investment value deemed to be OTTI	$ 0		$ 0
Investment securities, aggregate carrying value, pledged as collateral	$ 4,690,000,000		$ 4,690,000,000		$ 4,370,000,000

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Accumulated Other Comprehensive Loss (Components of AOCI) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		$ (35,411)	$ (16,594)	$ (52,981)	$ (25,268)
Other comprehensive income before reclassifications		(17,439)	19,675	1,517	27,372
Amounts reclassified from accumulated other comprehensive (loss) income		1,691	976	305	1,953
Net current period other comprehensive income		(15,748)	20,651	1,822	29,325
Ending balance		(51,159)	4,057	(51,159)	4,057
Unrealized Loss on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	[1]	(2,310)	(3,993)	(2,664)	(4,434)
Other comprehensive income before reclassifications	[1]	435	350	789	791
Amounts reclassified from accumulated other comprehensive (loss) income	[1]	0	0	0	0
Net current period other comprehensive income	[1]	435	350	789	791
Ending balance	[1]	(1,875)	(3,643)	(1,875)	(3,643)
Unrealized Gains on Investment Securities Available for Sale
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	[1]	20,551	(2,835)	5,098	(10,091)
Other comprehensive income before reclassifications	[1]	(17,874)	19,325	728	26,581
Amounts reclassified from accumulated other comprehensive (loss) income	[1]	(73)	0	(3,222)	0
Net current period other comprehensive income	[1]	(17,947)	19,325	(2,494)	26,581
Ending balance	[1]	2,604	16,490	2,604	16,490
Defined Benefit Pension Items
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	[1]	(53,652)	(9,766)	(55,415)	(10,743)
Other comprehensive income before reclassifications	[1]	0	0	0	0
Amounts reclassified from accumulated other comprehensive (loss) income	[1]	1,764	976	3,527	1,953
Net current period other comprehensive income	[1]	1,764	976	3,527	1,953
Ending balance	[1]	$ (51,888)	$ (8,790)	$ (51,888)	$ (8,790)

[1] All amounts are net of tax.

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Business Combinations (Details) - USD ($)			3 Months Ended		6 Months Ended
	Feb. 14, 2015	Oct. 02, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Feb. 13, 2015	Oct. 01, 2014	Jan. 01, 2014
Business Acquisition [Line Items]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value							$ 154,496,000		$ 316,327,000
Gain on acquisition			$ 0	$ 0	$ 42,930,000	$ 0
Merger-related expenses			4,573,000	$ 3,450,000	7,570,000	$ 5,903,000
Bancorporation
Business Acquisition [Line Items]
BancShares number of shares owned in Bancorporation		32,042
Fair value of Bancorporation shares owned by BancShares								$ 29,551,000
Investment securities available for sale								2,011,263,000
Loans								4,491,067,000
Intangible asset								109,416,000
Total assets acquired								8,275,367,000
Deposits								7,174,817,000
Total liabilities assumed								7,655,408,000
Cash paid to shareholders		$ (30,394,000)
Cash and overnight investments								1,280,000,000
Goodwill acquired		$ 4,233,000
Pro forma revenue			330,253,000		653,777,000
Pro forma net income			40,259,000		77,489,000
Capitol City Bank and Trust
Business Acquisition [Line Items]
Cash and cash equivalents							19,622,000
Investment securities available for sale							35,413,000
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value							154,496,000
Intangible asset							690,000
Other assets							1,714,000
Total assets acquired							211,935,000
Deposits							266,352,000
Business Combination Bargain Purchase Gain Adjustment			5,400,000
Short-term borrowings							5,501,000
Other liabilities							667,000
Total liabilities assumed							272,520,000
Fair value of net assets (liabilities) assumed							(60,585,000)
Cash received from FDIC							$ 103,515,000
Gain on acquisition	$ 42,930,000
Bargain Purchase After Tax Gain	$ 26,200,000
Merger-related expenses			1,100,000		1,300,000
Revenue generated			$ 2,400,000		$ 3,700,000
Class A Common Stock | Bancorporation
Business Acquisition [Line Items]
Right to receive number of shares conversion		2,586,762
Value of shares of BancShares common stock issued to Bancorporation								560,370,000
Class B Common Stock | Bancorporation
Business Acquisition [Line Items]
Right to receive number of shares conversion		18,202
Value of shares of BancShares common stock issued to Bancorporation								$ 3,877,000
Shares and Cash | Bancorporation
Business Acquisition [Line Items]
Right to receive cash per share		$ 50.00
Shares and Cash | Class A Common Stock | Bancorporation
Business Acquisition [Line Items]
Right to receive number of shares conversion		4.00
Shares Only | Class A Common Stock | Bancorporation
Business Acquisition [Line Items]
Right to receive number of shares conversion		3.58
Shares Only | Class B Common Stock | Bancorporation
Business Acquisition [Line Items]
Right to receive number of shares conversion		0.42

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Loans and Leases Loans and Leases (Schedule of Contractually Required Payments Including Principal and Interest, Expected Cash Flows to be Collected and Fair Values) (Details) - USD ($) $ in Thousands	Feb. 13, 2015	Jan. 01, 2014
Investments, Debt and Equity Securities [Abstract]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition	$ 247,812
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition	207,688
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value	$ 154,496	$ 316,327

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Estimated Fair Values (Assets And Liabilities Carried At Fair Value On A Nonrecurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Real Estate, Non Covered	$ 60,358		$ 70,454	$ 35,151		$ 36,898
Other Real Estate, Covered	12,890		22,982	40,136		47,081
Mortgage servicing rights	18,162	$ 16,436	16,688	$ 0	$ 0	$ 16
Fair Value, Measurements, Nonrecurring | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans not covered by loss share agreements	70,446		73,170
Other Real Estate, Non Covered	22,644		40,714
Other Real Estate, Covered	3,749		17,664
Mortgage servicing rights	221		13,562
Fair Value, Measurements, Nonrecurring | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans not covered by loss share agreements	0		0
Other Real Estate, Non Covered	0		0
Other Real Estate, Covered	0		0
Mortgage servicing rights	0		0
Fair Value, Measurements, Nonrecurring | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans not covered by loss share agreements	0		0
Other Real Estate, Non Covered	0		0
Other Real Estate, Covered	0		0
Mortgage servicing rights	0		0
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans not covered by loss share agreements	70,446		73,170
Other Real Estate, Non Covered	22,644		40,714
Other Real Estate, Covered	3,749		17,664
Mortgage servicing rights	$ 221		$ 13,562

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Mortgage Servicing Rights (Economic Assumptions) (Details) - $ / loans	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Servicing Asset Key Economic Assumptions [Line Items]
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed	13.24%	14.25%
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Cost to Service Loans	56.61	56.02
Conventional fixed loans
Servicing Asset Key Economic Assumptions [Line Items]
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate	7.35%	7.20%
All loans excluding conventional fixed loans
Servicing Asset Key Economic Assumptions [Line Items]
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate	9.35%	9.20%

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Loans and Leases (Composition of the Loans and Leases Outstanding By Credit Quality Indicator) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	$ 1,123,239	$ 1,186,498	$ 1,109,933	$ 1,029,426
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	11,878,443	11,205,639
PCI loans	697,045	726,123
Commercial | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	7,861,590	7,552,948
PCI loans	611,505	577,518
Commercial | Other commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	288,214	244,875
PCI loans	14,353	40,193
Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	2,199,591	1,988,934
PCI loans	20,382	27,254
Commercial | Lease financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	643,508	571,916
Commercial | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	338,389	353,833
PCI loans	2,597	3,079
Commercial | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	547,151	493,133
PCI loans	48,208	78,079
Commercial | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	11,450,784	10,773,986
PCI loans	363,305	342,172
Commercial | Pass | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	7,613,114	7,284,714
PCI loans	324,320	300,187
Commercial | Pass | Other commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	285,339	242,053
PCI loans	8,456	11,033
Commercial | Pass | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	2,050,360	1,859,415
PCI loans	11,681	16,637
Commercial | Pass | Lease financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	635,084	564,319
Commercial | Pass | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	334,601	349,111
PCI loans	796	801
Commercial | Pass | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	532,286	474,374
PCI loans	18,052	13,514
Commercial | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	139,942	176,355
PCI loans	105,062	125,195
Commercial | Special Mention | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	102,773	129,247
PCI loans	100,609	98,724
Commercial | Special Mention | Other commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	267	909
PCI loans	13	16,271
Commercial | Special Mention | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	17,861	27,683
PCI loans	1,934	4,137
Commercial | Special Mention | Lease financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	4,797	3,205
Commercial | Special Mention | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	1,859	1,384
PCI loans	0	0
Commercial | Special Mention | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	12,385	13,927
PCI loans	2,506	6,063
Commercial | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	166,129	157,333
PCI loans	207,640	247,138
Commercial | Substandard | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	141,061	134,677
PCI loans	172,577	171,920
Commercial | Substandard | Other commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	1,043	1,765
PCI loans	5,549	12,889
Commercial | Substandard | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	16,471	8,878
PCI loans	5,796	6,312
Commercial | Substandard | Lease financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	3,294	3,955
Commercial | Substandard | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	1,929	3,338
PCI loans	1,801	2,278
Commercial | Substandard | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	2,331	4,720
PCI loans	21,917	53,739
Commercial | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	4,211	2,895
PCI loans	18,219	9,241
Commercial | Doubtful | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	1,553	2,366
PCI loans	13,571	6,302
Commercial | Doubtful | Other commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	0	0
PCI loans	0	0
Commercial | Doubtful | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	2,333	164
PCI loans	307	130
Commercial | Doubtful | Lease financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	325	365
Commercial | Doubtful | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	0	0
PCI loans	0	0
Commercial | Doubtful | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	0	0
PCI loans	4,341	2,809
Commercial | Ungraded
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	117,377	95,070
PCI loans	2,819	2,377
Commercial | Ungraded | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	3,089	1,944
PCI loans	428	385
Commercial | Ungraded | Other commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	1,565	148
PCI loans	335	0
Commercial | Ungraded | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	112,566	92,794
PCI loans	664	38
Commercial | Ungraded | Lease financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	8	72
Commercial | Ungraded | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	0	0
PCI loans	0	0
Commercial | Ungraded | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	149	112
PCI loans	1,392	1,954
Noncommerical
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	426,194	460,375
Noncommerical | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	358,307	382,340
Noncommerical | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	345	912
Noncommerical | Revolving mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	64,340	74,109
Noncommerical | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	3,202	3,014
Non-PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	18,396,946	17,582,967
Past due loans	106,866	101,467
Current loans	18,290,080	17,481,500
Non-PCI Loans | Commercial | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	7,861,590	7,552,948
Past due loans	31,475	24,210
Current loans	7,830,115	7,528,738
Non-PCI Loans | Commercial | Other commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	288,214	244,875
Past due loans	237	378
Current loans	287,977	244,497
Non-PCI Loans | Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	2,199,591	1,988,934
Past due loans	8,335	4,766
Current loans	2,191,256	1,984,168
Non-PCI Loans | Commercial | Lease financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	643,508	571,916
Past due loans	1,559	1,641
Current loans	641,949	570,275
Non-PCI Loans | Commercial | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	338,389	353,833
Past due loans	548	2,112
Current loans	337,841	351,721
Non-PCI Loans | Commercial | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	547,151	493,133
Past due loans	3,165	1,133
Current loans	543,986	492,000
Non-PCI Loans | Noncommerical
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	6,518,503	6,377,328
Current loans	6,456,956	6,310,101
Non-PCI Loans | Noncommerical | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	2,597,064	2,493,058
Past due loans	37,190	38,261
Current loans	2,559,874	2,454,797
Non-PCI Loans | Noncommerical | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	227,280	205,016
Past due loans	2,504	2,672
Current loans	224,776	202,344
Non-PCI Loans | Noncommerical | Revolving mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	2,529,936	2,561,800
Past due loans	13,778	18,993
Current loans	2,516,158	2,542,807
Non-PCI Loans | Noncommerical | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-PCI loans	1,164,223	1,117,454
Past due loans	8,075	7,301
Current loans	1,156,148	1,110,153
PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
PCI loans	1,123,239	1,186,498
PCI Loans | Noncommerical
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current loans	372,625	398,225
PCI Loans | Noncommerical | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current loans	311,880	326,589
PCI Loans | Noncommerical | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current loans	314	506
PCI Loans | Noncommerical | Revolving mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current loans	57,529	68,548
PCI Loans | Noncommerical | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current loans	2,902	2,582
90 Days or greater | Non-PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	33,198	24,598
90 Days or greater | Non-PCI Loans | Commercial | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	14,676	8,061
90 Days or greater | Non-PCI Loans | Commercial | Other commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	188	102
90 Days or greater | Non-PCI Loans | Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	1,050	378
90 Days or greater | Non-PCI Loans | Commercial | Lease financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	308	2
90 Days or greater | Non-PCI Loans | Commercial | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	210	0
90 Days or greater | Non-PCI Loans | Commercial | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	921	330
90 Days or greater | Non-PCI Loans | Noncommerical
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	15,845	15,725
90 Days or greater | Non-PCI Loans | Noncommerical | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	9,033	8,955
90 Days or greater | Non-PCI Loans | Noncommerical | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	493	202
90 Days or greater | Non-PCI Loans | Noncommerical | Revolving mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	5,232	5,463
90 Days or greater | Non-PCI Loans | Noncommerical | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	1,087	1,105
90 Days or greater | PCI Loans | Noncommerical
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	33,483	38,723
90 Days or greater | PCI Loans | Noncommerical | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	31,110	34,246
90 Days or greater | PCI Loans | Noncommerical | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	0	406
90 Days or greater | PCI Loans | Noncommerical | Revolving mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	2,230	3,811
90 Days or greater | PCI Loans | Noncommerical | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	143	260
60 to 89 Days past due | Non-PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	17,416	19,548
60 to 89 Days past due | Non-PCI Loans | Commercial | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	4,896	4,782
60 to 89 Days past due | Non-PCI Loans | Commercial | Other commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	0	70
60 to 89 Days past due | Non-PCI Loans | Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	1,010	1,545
60 to 89 Days past due | Non-PCI Loans | Commercial | Lease financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	90	8
60 to 89 Days past due | Non-PCI Loans | Commercial | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	0	1,966
60 to 89 Days past due | Non-PCI Loans | Commercial | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	612	283
60 to 89 Days past due | Non-PCI Loans | Noncommerical
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	10,808	10,894
60 to 89 Days past due | Non-PCI Loans | Noncommerical | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	6,039	6,018
60 to 89 Days past due | Non-PCI Loans | Noncommerical | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	469	824
60 to 89 Days past due | Non-PCI Loans | Noncommerical | Revolving mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	2,372	2,433
60 to 89 Days past due | Non-PCI Loans | Noncommerical | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	1,928	1,619
60 to 89 Days past due | PCI Loans | Noncommerical
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	4,074	10,443
60 to 89 Days past due | PCI Loans | Noncommerical | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	3,882	10,073
60 to 89 Days past due | PCI Loans | Noncommerical | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	0	0
60 to 89 Days past due | PCI Loans | Noncommerical | Revolving mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	147	345
60 to 89 Days past due | PCI Loans | Noncommerical | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	45	25
30 to 59 Days past due | Non-PCI Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	56,252	57,321
30 to 59 Days past due | Non-PCI Loans | Commercial | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	11,903	11,367
30 to 59 Days past due | Non-PCI Loans | Commercial | Other commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	49	206
30 to 59 Days past due | Non-PCI Loans | Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	6,275	2,843
30 to 59 Days past due | Non-PCI Loans | Commercial | Lease financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	1,161	1,631
30 to 59 Days past due | Non-PCI Loans | Commercial | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	338	146
30 to 59 Days past due | Non-PCI Loans | Commercial | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	1,632	520
30 to 59 Days past due | Non-PCI Loans | Noncommerical
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	34,894	40,608
30 to 59 Days past due | Non-PCI Loans | Noncommerical | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	22,118	23,288
30 to 59 Days past due | Non-PCI Loans | Noncommerical | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	1,542	1,646
30 to 59 Days past due | Non-PCI Loans | Noncommerical | Revolving mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	6,174	11,097
30 to 59 Days past due | Non-PCI Loans | Noncommerical | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	5,060	4,577
30 to 59 Days past due | PCI Loans | Noncommerical
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	16,012	12,984
30 to 59 Days past due | PCI Loans | Noncommerical | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	11,435	11,432
30 to 59 Days past due | PCI Loans | Noncommerical | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	31	0
30 to 59 Days past due | PCI Loans | Noncommerical | Revolving mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	4,434	1,405
30 to 59 Days past due | PCI Loans | Noncommerical | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due loans	$ 112	$ 147

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Accounting Policies and Basis of Presentation

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Accounting Policies and Basis of Presentation

ACCOUNTING POLICIES AND BASIS OF PRESENTATION

First Citizens BancShares, Inc. (BancShares) is a financial holding company organized under the laws of Delaware and conducts operations through its banking subsidiary, First-Citizens Bank & Trust Company (FCB), which is headquartered in Raleigh, North Carolina.

General

These consolidated financial statements and notes thereto are presented in accordance with instructions for Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include all information and notes necessary for a complete presentation of financial position, results of operations and cash flow activity required in accordance with accounting principles generally accepted in the United States of America (GAAP). In the opinion of management, all normal recurring adjustments necessary for a fair presentation of the consolidated financial position and consolidated results of operations have been made. The unaudited interim consolidated financial statements included in this Form 10-Q should be read in conjunction with the consolidated financial statements and footnotes included in BancShares' Annual Report on Form 10-K for the year ended December 31, 2014.

Reclassifications

Prior period financial statements reflect the retrospective application of Accounting Standards Update (ASU) 2014-01, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments Qualified Affordable Housing Projects which was adopted effective in the fourth quarter of 2014 and did not have a material impact on our consolidated financial condition or results of operations. In certain instances other than the retrospective adoption of ASU 2014-01, amounts reported in prior years' consolidated financial statements have been reclassified to conform to the current financial statement presentation. Such reclassifications had no effect on previously reported shareholders' equity or net income.

Fair values recorded as a result of acquisitions are subject to refinement for up to one year after the closing date of the transaction as additional information regarding closing date fair values becomes available. We have increased previously reported amounts of gain on acquisition, net income and retained earnings for the six months ended June 30, 2015 by $3.3 million, net of tax, as a result of adjustments made to the fair value of assets acquired in the FDIC-assisted acquisition of Capitol City Bank & Trust (CCBT) of Atlanta, Georgia in the first quarter of 2015.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates, and different assumptions in the application of these policies could result in material changes in BancShares' consolidated financial position, the consolidated results of its operations or related disclosures. Material estimates that are particularly susceptible to significant change include:

• Allowance for loan and lease losses

• Fair value of financial instruments, including acquired assets and assumed liabilities

• Pension plan assumptions

• Cash flow estimates on purchased credit-impaired loans

• Receivable from and payable to the FDIC for loss share agreements

• Income tax assets, liabilities and expense

Recently Adopted Accounting Pronouncements

Financial Accounting Standards Board (FASB) ASU 2015-10 Technical Corrections and Improvements

The amendments in this ASU represent changes to clarify the Codification, correct unintended application of guidance and make minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Additionally, some of the amendments will make the Codification easier to understand and easier to apply by eliminating inconsistencies, providing needed clarifications, and improving the presentation of guidance in the Codification.

The transition guidance varies based on the amendments in this ASU. The amendments in this ASU that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. All other amendments will be effective upon the issuance. We adopted the amendments effective second quarter of 2015. The adoption did not have an impact on our consolidated financial position or consolidated results of operations.

FASB ASU 2015-08 Business Combinations (Topic 805): Pushdown Accounting - Amendments to Securities and Exchange Commission (SEC) Paragraphs Pursuant to Staff Accounting Bulletin No. 115

The amendments in this ASU remove references to SEC Staff Accounting Bulletin (SAB) Topic 5.J as the SEC staff previously rescinded its guidance with the issuance of SAB No. 115 when the FASB issued its own pushdown accounting guidance in ASU 2014-17, an amendment we adopted effective fourth quarter of 2014. We adopted the amendments in ASU 2015-08 effective second quarter of 2015. The adoption did not have an impact on our consolidated financial position or consolidated results of operations.

FASB ASU 2014-14, Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure

This ASU requires a reporting entity to derecognize a mortgage loan and recognize a separate other receivable upon foreclosure if the following conditions are met: the loan has a government guarantee that is not separable from the loan before foreclosure; at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim and at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance expected to be recovered from the guarantor.

The amendments in this ASU were effective for public entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. We adopted this guidance effective first quarter of 2015. The initial adoption did not have any effect on our consolidated financial position or consolidated results of operations.

FASB ASU 2014-11, Transfers and Servicing (Topic 860)

This ASU aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as a repurchase financing with the accounting for other typical repurchase agreements. Going forward, these transactions would all be accounted for as secured borrowings. The guidance eliminates sale accounting for repurchase-to-maturity transactions and supersedes the guidance under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement, which has resulted in outcomes referred to as off-balance-sheet accounting. The ASU requires a new disclosure for transactions economically similar to repurchase agreements in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction. The ASU also requires expanded disclosures about the nature of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings.

The accounting changes in this ASU were effective for fiscal years beginning after December 15, 2014. In addition, the disclosure for certain transactions accounted for as a sale was effective for the fiscal period beginning after December 15, 2014, the disclosures for transactions accounted for as secured borrowings were required to be presented for fiscal periods beginning after December 15, 2014, and interim periods beginning after March 15, 2015. We adopted the guidance effective first quarter of 2015. The initial adoption did not have any effect on our consolidated financial position or consolidated results of operations. The new disclosures required by this ASU are included in Note I.

FASB ASU 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40)

This ASU clarifies that an in-substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction.

The amendments in this ASU were effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. We adopted the guidance effective first quarter of 2015. The initial adoption did not have any effect on our consolidated financial position or consolidated results of operations. The new disclosures required by this ASU are included in Note F.

FASB ASU 2014-01, Investments - Equity Method and Joint Ventures (Topic 323) - Accounting for Investments in Qualified Affordable Housing Projects

This ASU permits an accounting policy election to account for investments in qualified affordable housing projects (LIHTC) using the proportional amortization method if certain conditions are met. Under the proportional amortization method, the initial cost of the investment is amortized in proportion to the tax credits and other tax benefits received and recognize the net investment performance in the income statement as a component of income tax expense (benefit).

For those investments in qualified affordable housing projects not accounted for using the proportional amortization method, the investment should be accounted for as an equity method investment or a cost method investment in accordance with ASC 970-323.

The decision to apply the proportional amortization method of accounting will be applied consistently to all qualifying affordable housing project investments rather than a decision to be applied to individual investments.

BancShares early adopted the guidance effective in the fourth quarter of 2014. Previously, LIHTC investments were accounted for under the cost or equity method, and the amortization was recorded as a reduction to other noninterest income, with the tax credits and other benefits received recorded as a component of the provision for income taxes. BancShares believes the proportional amortization method better represents the economics of LIHTC investments and provides users with a better understanding of the returns from such investments than the cost or equity method. LIHTC investments were $76.4 million and $57.1 million at June 30, 2015 and December 31, 2014, respectively, included in "other assets" on the Consolidated Balance Sheets.

The cumulative effect of the retrospective application of the change in amortization method was a $2.4 million decrease to both "other assets" and "retained earnings" on the Consolidated Balance Sheets as of January 1, 2012. Under the new amortization method of accounting, amortization expense is recognized in income tax expense in the Consolidated Statements of Income and is offset by the tax effect of tax losses and tax credits received from the investments. This change resulted in a reclassification of expense previously recorded as a reduction in other noninterest income to income tax expense along with additional amortization recognized under the new method of accounting in the Consolidated Statements of Income. An additional change resulting from the new amortization method of accounting was that a deferred tax asset or liability no longer exists as a result of these investments, thus in the retrospective application of the new method, the removal of the deferred tax asset previously reported as well as the additional amortization of the investments, both recorded in other assets, reflected in the Consolidated Balance Sheets were removed. We do not believe the impact of this change in accounting principle is material.

Recently Issued Accounting Pronouncements

FASB ASU 2015-03, Interest–Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs

This ASU simplifies the presentation of debt issuance costs by requiring that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of debt liability, consistent with debt discounts or premiums. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update.

This ASU is effective for interim and annual periods beginning after December 15, 2015 for public companies, and is to be applied retrospectively. Early adoption is permitted. We will adopt the guidance effective in the first quarter of 2016 and do not anticipate any impact on our consolidated financial position or consolidated results of operations as a result of adoption.

FASB ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis

This ASU improves targeted areas of consolidation guidance for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. In addition to reducing the number of consolidation models from four to two, the new standard places more emphasis on risk of loss when determining a controlling financial interest, reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a variable interest entity ("VIE"), and changing consolidation conclusions for public and private companies in several industries that typically make use of limited partnerships or VIEs.

The amendments in this ASU are effective for periods beginning after December 15, 2015 for public companies. Early adoption is permitted. We will adopt the guidance effective in the first quarter of 2016 and do not anticipate any significant impact on our consolidated financial position or consolidated results of operations as a result of adoption.

FASB ASU 2014-09, Revenue from Contracts with Customers (Topic 606)

In May 2014, the FASB issued a standard on the recognition of revenue from contracts with customers with the core principle being for companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard also results in enhanced disclosures about revenue, provides guidance for transactions that were not previously addressed comprehensively and improves guidance for multiple-element arrangements.

The ASU was deferred and is effective for fiscal periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted for fiscal periods beginning after December 15, 2016. We are currently evaluating the impact of the new standard and we will adopt during the first quarter of 2018 using one of two retrospective application methods.

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Mortgage Servicing Rights (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Mortgage Servicing Rights [Abstract]
Residential Mortgage Loans Serviced	$ 2,000,000		$ 2,000,000			$ 1,950,000
Mortgage servicing rights	18,162	$ 0	18,162	$ 0	$ 16,436	$ 16,688	$ 0	$ 16
Contractually Specified Servicing Fees, Late Fees, and Ancillary Fees Earned in Exchange for Servicing Financial Assets	4,200		6,100
Amortization of Mortgage Servicing Rights (MSRs)	(1,110)	0	(1,962)	(164)
Valuation allowance provision	$ (909)	$ 0	$ (847)	$ 0

XML

Investments (Securities Gains (Losses)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Investments [Abstract]
Gross gains on sales of investment securities available for sale	$ 151	$ 0	$ 5,286	$ 0
Gross losses on sales of investment securities available for sale	4	0	13	0
Total securities gains (losses)	$ 147	$ 0	$ 5,273	$ 0

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Receivable from FDIC for Loss Share Agreements (Tables)

6 Months Ended

Jun. 30, 2015

Receivable From FDIC For Loss Share Agreements [Abstract]

Changes in Receivable From FDIC

The following table provides changes in the receivable from the FDIC for the three and six months ended June 30, 2015 and June 30, 2014.

	Three months ended June 30						Six months ended June 30
(Dollars in thousands)	2015			2014			2015			2014
Beginning balance	$	21,340		$	74,784		$	28,701		$	93,397
Amortization	(1,461		)	(12,922		)	(6,492		)	(30,667		)
Net cash payments to FDIC	5,128			859			10,890			4,350
Post-acquisition adjustments	(19,199		)	(12,762		)	(27,291		)	(17,121		)
Ending balance	$	5,808		$	49,959		$	5,808		$	49,959

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Other Real Estate Owned (Tables)

6 Months Ended

Jun. 30, 2015

Banking and Thrift [Abstract]

Changes in other real estate owned

The following table explains changes in other real estate owned during the six months ended June 30, 2015 and June 30, 2014.

(Dollars in thousands)	Covered			Noncovered			Total
Balance at December 31, 2013	$	47,081		$	36,898		$	83,979
Additions	16,186			8,894			25,080
Additions acquired in the 1st Financial merger	—			11,591			11,591
Sales	(18,522		)	(19,150		)	(37,672		)
Writedowns	(4,609		)	(3,082		)	(7,691		)
Balance at June 30, 2014	$	40,136		$	35,151		$	75,287
Balance at December 31, 2014	$	22,982		$	70,454		$	93,436
Additions	5,833			24,558			30,391
Sales	(12,962		)	(34,324		)	(47,286		)
Writedowns	(857		)	(2,436		)	(3,293		)
Transfers (1)	(2,106		)	2,106			—
Balance at June 30, 2015	$	12,890		$	60,358		$	73,248

⁽¹⁾ Transfers include OREO balances associated with expired loss share agreements.

At June 30, 2015 and December 31, 2014, BancShares had $17.6 million and $29.0 million, respectively, of foreclosed residential real estate property in OREO. The recorded investment in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure totaled $18.1 million and $24.8 million at June 30, 2015 and December 31, 2014, respectively.

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Allowance for Loan and Lease Losses (Note Restructurings During Period) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015 USD ($) loans	Jun. 30, 2014 USD ($) loans	Jun. 30, 2015 USD ($) loans	Jun. 30, 2014 USD ($) loans
PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	1	31	9	67
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 60	$ 5,123	$ 623	$ 10,614
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	2	0	8
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 76	$ 0	$ 253
PCI Loans | Loan term extension
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	1	0	2
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 53	$ 0	$ 329
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	1	0	1
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 53	$ 0	$ 53
PCI Loans | Loan term extension | Commercial | Construction and land development
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			0	1
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 0	$ 276
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
PCI Loans | Loan term extension | Noncommerical | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	1	0	1
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 53	$ 0	$ 53
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	1	0	1
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 53	$ 0	$ 53
PCI Loans | Interest only period provided
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			0	2
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 0	$ 0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 44
PCI Loans | Interest only period provided | Commercial | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			0	2
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 0	$ 0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 44
PCI Loans | Below market interest rate
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	1	30	8	37
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 60	$ 5,070	$ 545	$ 8,457
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	1	0	3
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 23	$ 0	$ 62
PCI Loans | Below market interest rate | Commercial | Construction and land development
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	1	0	2
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 273	$ 0	$ 308
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
PCI Loans | Below market interest rate | Commercial | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	5	0	9
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 1,811	$ 0	$ 5,060
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	1
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 39
PCI Loans | Below market interest rate | Commercial | Commercial and industrial
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	1	0	1
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 23	$ 0	$ 23
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
PCI Loans | Below market interest rate | Noncommerical | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	1	23	8	25
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 60	$ 2,963	$ 545	$ 3,066
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	1	0	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 23	$ 0	$ 23
PCI Loans | Discharged from bankruptcy
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	26	1	26
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 1,828	$ 78	$ 1,828
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	2	0	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 94	$ 0	$ 94
PCI Loans | Discharged from bankruptcy | Noncommerical | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	26	1	26
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 1,828	$ 78	$ 1,828
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	2	0	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 94	$ 0	$ 94
Non-PCI Loans
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	48	35	124	120
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 4,177	$ 6,139	$ 15,317	$ 20,657
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	5	6	12	11
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 217	$ 2,057	$ 2,940	$ 2,944
Non-PCI Loans | Loan term extension
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	2	13	8	27
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 840	$ 2,530	$ 1,597	$ 5,705
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	1	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 212	$ 0
Non-PCI Loans | Loan term extension | Commercial | Construction and land development
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	2	1	2
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 191	$ 212	$ 191
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	1	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 212	$ 0
Non-PCI Loans | Loan term extension | Commercial | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	2	0	5	5
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 840	$ 0	$ 1,371	$ 2,584
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Non-PCI Loans | Loan term extension | Commercial | Commercial and industrial
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	4	0	4
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 2,069	$ 0	$ 2,069
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Non-PCI Loans | Loan term extension | Commercial | Lease financing
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			0	2
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 0	$ 224
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Non-PCI Loans | Loan term extension | Noncommerical | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	6	0	11
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 260	$ 0	$ 593
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Non-PCI Loans | Loan term extension | Noncommerical | Revolving mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			1	0
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 9	$ 0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Non-PCI Loans | Loan term extension | Noncommerical | Consumer
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	1	1	3
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 10	$ 5	$ 44
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Non-PCI Loans | Interest only period provided
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	2	3	3	10
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 69	$ 766	$ 1,941	$ 2,986
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	1	1	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 494	$ 1,872	$ 708
Non-PCI Loans | Interest only period provided | Commercial | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	2	2	2	6
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 69	$ 720	$ 69	$ 2,600
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	1	0	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 494	$ 0	$ 708
Non-PCI Loans | Interest only period provided | Commercial | Commercial and industrial
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			1	1
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 1,872	$ 196
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			1	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 1,872	$ 0
Non-PCI Loans | Interest only period provided | Commercial | Lease financing
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			0	2
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 0	$ 144
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Non-PCI Loans | Interest only period provided | Commercial | Other
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	1	0	1
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 46	$ 0	$ 46
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Non-PCI Loans | Below market interest rate
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	31	14	83	63
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 2,968	$ 2,783	$ 10,026	$ 9,804
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	2	5	5	7
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 157	$ 1,563	$ 698	$ 2,151
Non-PCI Loans | Below market interest rate | Commercial | Construction and land development
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	3	0	5	10
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 251	$ 0	$ 296	$ 363
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Non-PCI Loans | Below market interest rate | Commercial | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	6	3	16	15
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 1,510	$ 1,991	$ 5,226	$ 6,591
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	5	1	6
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 1,563	$ 498	$ 2,011
Non-PCI Loans | Below market interest rate | Commercial | Other commercial real estate
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	0	1	0	1
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 365	$ 0	$ 365
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Non-PCI Loans | Below market interest rate | Commercial | Commercial and industrial
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	4	0	7	6
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 521	$ 0	$ 673	$ 143
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	1	0	1	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 142	$ 0	$ 142	$ 0
Non-PCI Loans | Below market interest rate | Commercial | Other
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			1	0
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 1,732	$ 0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Non-PCI Loans | Below market interest rate | Noncommerical | Construction and land development
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			2	8
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 253	$ 1,248
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Non-PCI Loans | Below market interest rate | Noncommerical | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	15	10	42	18
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 646	$ 427	$ 1,698	$ 820
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	1	0	3	1
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 15	$ 0	$ 58	$ 140
Non-PCI Loans | Below market interest rate | Noncommerical | Revolving mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			3	5
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 63	$ 274
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Non-PCI Loans | Below market interest rate | Noncommerical | Consumer
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	3	0	7	0
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 40	$ 0	$ 85	$ 0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Non-PCI Loans | Discharged from bankruptcy
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	13	5	30	20
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 300	$ 60	$ 1,753	$ 2,162
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	3	0	5	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 60	$ 0	$ 158	$ 85
Non-PCI Loans | Discharged from bankruptcy | Commercial | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			1	1
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 622	$ 983
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Non-PCI Loans | Discharged from bankruptcy | Commercial | Commercial and industrial
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	1	0	1	0
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 17	$ 0	$ 17	$ 0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0
Non-PCI Loans | Discharged from bankruptcy | Noncommerical | Construction and land development
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans			0	1
Financing Receivable, Modifications, Post-Modification Recorded Investment			$ 0	$ 62
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans			0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment			$ 0	$ 0
Non-PCI Loans | Discharged from bankruptcy | Noncommerical | Mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	2	1	8	8
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 35	$ 13	$ 434	$ 649
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	2
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 85
Non-PCI Loans | Discharged from bankruptcy | Noncommerical | Revolving mortgage
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	7	2	16	7
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 203	$ 39	$ 632	$ 442
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	3	0	5	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 60	$ 0	$ 158	$ 0
Non-PCI Loans | Discharged from bankruptcy | Noncommerical | Consumer
Financing Receivable, Modifications [Line Items]
Financing Receivable, Modifications, Number of Contracts | loans	3	2	4	3
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 45	$ 8	$ 48	$ 26
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	$ 0	$ 0	$ 0	$ 0

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Loans and Leases (Narrative) (Details) - Internal Credit Assessment [Domain] - Class of Financing Receivable [Domain] - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Financing Receivable, Recorded Investment [Line Items]
PCI loans	$ 1,123,239	$ 1,186,498	$ 1,109,933	$ 1,029,426
Noncovered loans pledged to secure debt obligations	$ 3,310,000	3,160,000
Threshold period past due for write-off of Business credit card loans (days)	120 days
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged	$ 2,380,000	2,200,000
Advances from Federal Home Loan Banks	290,300	240,300
Federal Home Loan Bank Advances, Current Borrowing Capacity	2,090,000	1,960,000
Loans and Leases Receivable, Gross, Carrying Amount, Covered	319,700	485,300
PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Nonaccruing	8,672	33,422
PCI loans	1,123,239	1,186,498
Bancorporation
Financing Receivable, Recorded Investment [Line Items]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Purchase Discount Remaining	49,300	$ 61,200
Sun American Bank
Financing Receivable, Recorded Investment [Line Items]
PCI loans	30,900
First Regional Bank
Financing Receivable, Recorded Investment [Line Items]
PCI loans	9,000
Williamsburg First National Bank
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Covered	$ 8,200

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Mortgage Servicing Rights (Tables)

6 Months Ended

Jun. 30, 2015

Mortgage Servicing Rights [Abstract]

Mortgage servicing rights

Our portfolio of residential mortgage loans serviced for third parties was $2.00 billion and $1.95 billion as of June 30, 2015 and December 31, 2014, respectively.  These loans were originated by BancShares and sold to third parties on a non-recourse basis with servicing rights retained.  These retained servicing rights are recorded as a servicing asset on the Consolidated Balance Sheets and are initially recorded at fair value.

The activity of the servicing asset for the three and six months ended June 30, 2015 and 2014 is presented in the following table:

	Three months ended June 30					Six months ended June 30
(Dollars in thousands)	2015			2014		2015			2014
Beginning balance	$	16,436		$	—	$	16,688		$	16
Servicing rights originated	1,927			—		2,589			—
Amortization	(1,110		)	—		(1,962		)	(164		)
Servicing rights acquired in the 1st Financial merger	—			—		—			148
Valuation allowance reversal	$	909		$	—	$	847		$	—
Ending balance	$	18,162		$	—	$	18,162		$	—

Mortgage servicing rights valuation allowance

The following table presents the activity in the servicing asset valuation allowance for the three and six months ended June 30, 2015 and 2014:

	Three months ended June 30					Six months ended June 30
(Dollars in thousands)	2015			2014		2015			2014
Beginning balance	$	912		$	—	$	850		$	—
Valuation allowance reversal	(909		)	—		(847		)	—
Ending balance	$	3		$	—	$	3		$	—

Mortgage servicing rights economic assumptions

Valuation of mortgage servicing rights is performed using a pooling methodology. Similar loans are pooled together and evaluated on a discounted earnings basis to determine the present value of future earnings. Key economic assumptions used to value mortgage servicing rights as of June 30, 2015 and December 31, 2014 were as follows:

	June 30, 2015			December 31, 2014
Discount rate - conventional fixed loans	7.35		%	7.20		%
Discount rate - all loans excluding conventional fixed loans	9.35		%	9.20		%
Weighted average constant prepayment rate	13.24		%	14.25		%
Weighted average cost to service a loan	$	56.61		$	56.02

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Repurchase Agreements (Tables)

6 Months Ended

Jun. 30, 2015

Repurchase Agreements [Abstract]

Schedule of Repurchase Agreements [Table Text Block]

The remaining contractual maturity of the securities sold under agreements to repurchase by class of collateral pledged included in short-term borrowings in the Consolidated Balance Sheets as of June 30, 2015 and December 31, 2014 is presented in the following tables.

	June 30, 2015
	Remaining Contractual Maturity of the Agreements
(Dollars in thousands)	Overnight and continuous		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
Repurchase agreements
U.S. Treasury	$	710,674	$	—	$	—	$	23,092	$	733,766
Government agency	—		—		—		6,908		6,908
Total borrowings	$	710,674	$	—	$	—	$	30,000	$	740,674
Gross amount of recognized liabilities for repurchase agreements									$	740,674
	December 31, 2014
	Remaining Contractual Maturity of the Agreements
	Overnight and continuous		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
Repurchase agreements
U.S. Treasury	$	162,924	$	—	$	—	$	23,086	$	186,010
Government agency	—		—		—		6,914		6,914
Mortgage-backed securities	131,501		—		—		—		131,501
Total borrowings	$	294,425	$	—	$	—	$	30,000	$	324,425
Gross amount of recognized liabilities for repurchase agreements									$	324,425

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Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
OPERATING ACTIVITIES
Net income	$ 111,680	$ 49,165
Adjustments to reconcile net income to cash provided by operating activities:
Provision (credit) for loan and lease losses	13,511	(9,202)
Deferred tax expense (benefit)	(23,762)	(3,640)
Net change in current taxes	(25,261)	5,973
Depreciation	44,312	35,455
Increase (decrease) in accrued interest payable	(2,359)	560
Net (increase) decrease in income earned not collected	(9,475)	(629)
Gain on acquisition	42,930	0
Securities (gains) losses	(5,273)	0
Origination of loans held for sale	(355,819)	(123,144)
Proceeds from sale of loans held for sale	338,466	123,967
Gain on sale of loans	(3,991)	(2,220)
Net writedowns/losses on other real estate	3,188	6,993
Net amortization of premiums and discounts	(45,662)	(17,288)
Amortization of intangible assets	8,302	1,207
FDIC receivable for loss share agreements	27,291	17,121
FDIC payable for loss share agreements	5,503	4,903
Net change in other assets	14,243	(32,693)
Net change in other liabilities	25,085	35,033
Net cash provided by operating activities	77,049	91,561
INVESTING ACTIVITIES
Net change in loans outstanding	(566,524)	(57,271)
Purchases of investment securities available for sale	(1,435,387)	(1,409,878)
Proceeds from maturities of investment securities held to maturity	167	214
Proceeds from maturities of investment securities available for sale	757,780	1,529,687
Proceeds from sales of investment securities available for sale	522,024	0
Net change in overnight investments	21,578	(259,150)
Cash (paid to) received from the FDIC for loss share agreements	(10,890)	(4,350)
Proceeds from sale of other real estate	47,391	38,370
Additions to premises and equipment	(31,921)	(39,550)
Business acquisition, net of cash acquired	123,137	18,194
Net cash (used) provided by investing activities	(572,645)	(183,734)
FINANCING ACTIVITIES
Net change in time deposits	(359,125)	(219,297)
Net change in demand and other interest-bearing deposits	926,092	270,118
Net change in short-term borrowings	(269,460)	81,716
Repayment of long-term obligations	(4,483)	(1,240)
Origination of long-term obligations	120,000	0
Cash dividends paid	(7,206)	(5,771)
Net cash provided (used) by financing activities	405,818	125,526
Change in cash and due from banks	(89,778)	33,353
Cash and due from banks at beginning of period	604,182	533,599
Cash and due from banks at end of period	514,404	566,952
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Transfers of loans to other real estate	30,350	25,080
Dividends Declared but not Paid	$ 3,603	$ 2,886

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Estimated Fair Values (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Estimated Fair Values For Certain Financial Assets And Financial Liabilities

For all other financial assets and financial liabilities, the carrying value is a reasonable estimate of the fair value as of June 30, 2015 and December 31, 2014. The carrying value and fair value for these assets and liabilities are equivalent because they are relatively short term in nature and there is no interest rate or credit risk that would cause the fair value to differ from the carrying value.

(Dollars in thousands)	June 30, 2015				December 31, 2014
	Carrying value		Fair value		Carrying value		Fair value
Cash and due from banks	$	514,404	$	514,404	$	604,182	$	604,182
Overnight investments	1,703,341		1,703,341		1,724,919		1,724,919
Investment securities available for sale	7,350,194		7,350,194		7,171,917		7,171,917
Investment securities held to maturity	351		365		518		544
Loans held for sale	85,040		85,040		63,696		63,696
Net loans and leases	19,311,868		18,755,676		18,564,999		18,046,497
Receivable from the FDIC for loss share agreements (1)	5,808		5,808		28,701		18,218
Income earned not collected	66,729		66,729		57,254		57,254
Federal Home Loan Bank stock	27,736		27,736		39,113		39,113
Preferred stock and other acquired financial assets	3,016		3,061		13,689		14,708
Mortgage servicing rights	18,162		20,078		16,688		16,736
Deposits	26,511,896		25,915,474		25,678,577		25,164,683
Short-term borrowings	723,225		723,225		987,184		987,184
Long-term obligations	475,568		493,715		351,320		367,732
Payable to the FDIC for loss share agreements	122,038		128,049		116,535		122,168
Accrued interest payable	5,835		5,835		8,194		8,194
Interest rate swap	3,052		3,052		4,337		4,337

⁽¹⁾ At June 30, 2015, the carrying value of the FDIC receivable approximates the fair value due to the short term nature of the majority of loss share agreements. At December 31, 2014, the fair value of the FDIC receivable is estimated based on discounted future cash flows using current discount rates and excludes receivable related to accretable yield to be amortized in prospective periods.

Assets And Liabilities Carried At Fair Value On A Recurring Basis

For assets and liabilities carried at fair value on a recurring basis, the following table provides fair value information as of June 30, 2015 and December 31, 2014.

	June 30, 2015
			Fair value measurements using:
(Dollars in thousands)	Fair value		Level 1 inputs		Level 2 inputs		Level 3 inputs
Assets measured at fair value
Investment securities available for sale
U.S. Treasury	$	2,206,859	$	—	$	2,206,859	$	—
Government agency	776,244		—		776,244		—
Mortgage-backed securities	4,367,091		—		4,367,091		—
Total investment securities available for sale	7,350,194		—		7,350,194		—
Loans held for sale	85,040		—		85,040		—
Liabilities measured at fair value
Interest rate swaps accounted for as cash flow hedges	$	3,052	$	—	$	3,052	$	—
	December 31, 2014
			Fair value measurements using:
	Fair value		Level 1 inputs		Level 2 inputs		Level 3 inputs
Assets measured at fair value
Investment securities available for sale
U.S. Treasury	$	2,629,670	$	—	$	2,629,670	$	—
Government agency	908,817		—		908,817		—
Mortgage-backed securities	3,633,304		—		3,633,304		—
Municipal securities	126		—		126		—
Total investment securities available for sale	7,171,917		—		7,171,917		—
Loans held for sale	63,696		—		63,696		—
Liabilities measured at fair value
Interest rate swaps accounted for as cash flow hedges	$	4,337	$	—	$	4,337	$	—

Fair Value Option

The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for residential real estate loans held for sale measured at fair value as of June 30, 2015 and December 31, 2014.

	June 30, 2015
(Dollars in thousands)	Fair Value		Aggregate Unpaid Principal Balance		Difference
Loans held for sale	$	85,040	$	84,257	$	783
	December 31, 2014
	Fair Value		Aggregate Unpaid Principal Balance		Difference
Loans held for sale	$	63,696	$	62,996	$	700

No loans held for sale were 90 or more days past due or on nonaccrual status as of June 30, 2015 or December 31, 2014.

The changes in fair value for residential real estate loans held for sale for which we elected the fair value option are included in the table below for the three and six months ended June 30, 2015.

	Three months ended June 30, 2015			Six months ended June 30, 2015
(Dollars in thousands)	Gains(Losses) From Fair Value Changes			Gains(Losses) From Fair Value Changes
Loans held for sale	$	(461	)	$	(31	)

Assets And Liabilities Carried At Fair Value On A Nonrecurring Basis

For financial assets and liabilities carried at fair value on a nonrecurring basis, the following table provides fair value information as of June 30, 2015 and December 31, 2014.

	June 30, 2015
			Fair value measurements using:
(Dollars in thousands)	Fair value		Level 1 inputs		Level 2 inputs		Level 3 inputs
Impaired loans	$	70,446	$	—	$	—	$	70,446
Other real estate not covered under loss share agreements remeasured during current year	22,644		—		—		22,644
Other real estate covered under loss share agreements remeasured during current year	3,749		—		—		3,749
Mortgage servicing rights	221		—		—		221
	December 31, 2014
			Fair value measurements using:
	Fair value		Level 1 inputs		Level 2 inputs		Level 3 inputs
Impaired loans	$	73,170	$	—	$	—	$	73,170
Other real estate not covered under loss share agreements remeasured during current year	40,714		—		—		40,714
Other real estate covered under loss share agreements remeasured during current year	17,664		—		—		17,664
Mortgage servicing rights	13,562		—		—		13,562

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Investments (Maturity Information) (Details) - Investments [Domain] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Investment securities available for sale
Total investment securities available for sale, cost	$ 7,345,935	$ 7,163,574
Total investment securities available for sale, fair value	7,350,194	7,171,917
Investment securities held to maturity
Investment securities held to maturity	351	518
Debt Securities
Investment securities available for sale
Maturing in one year or less, cost	412,357	447,866
Maturing in one through five years, cost	2,560,632	3,087,521
Maturing in one year or less, fair value	412,720	447,992
Maturing in one through five years, fair value	$ 2,570,383	$ 3,090,621

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Allowance for Loan and Lease Losses (Summary of Activity In Allowance for Loan and Lease Losses) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired Loans and Leases, Baseline for Meaurement						$ 500,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Net loans and leases					$ 19,311,868,000	18,564,999,000
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract]
Loans and leases acquired with deteriorated credit quality					1,123,239,000	1,186,498,000	$ 1,109,933,000	$ 1,029,426,000
Allowance for loan and lease losses					208,317,000	204,466,000
Commercial
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract]
Loans and leases acquired with deteriorated credit quality					697,045,000	726,123,000
Commercial | Construction and land development
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract]
Loans and leases acquired with deteriorated credit quality					48,208,000	78,079,000
Commercial | Mortgage
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract]
Loans and leases acquired with deteriorated credit quality					611,505,000	577,518,000
Commercial | Other commercial real estate
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract]
Loans and leases acquired with deteriorated credit quality					14,353,000	40,193,000
Commercial | Commercial and industrial
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract]
Loans and leases acquired with deteriorated credit quality					20,382,000	27,254,000
Commercial | Other
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract]
Loans and leases acquired with deteriorated credit quality					2,597,000	3,079,000
Noncommerical
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract]
Loans and leases acquired with deteriorated credit quality					426,194,000	460,375,000
Noncommerical | Construction and land development
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract]
Loans and leases acquired with deteriorated credit quality					345,000	912,000
Noncommerical | Mortgage
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract]
Loans and leases acquired with deteriorated credit quality					358,307,000	382,340,000
Noncommerical | Revolving mortgage
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract]
Loans and leases acquired with deteriorated credit quality					64,340,000	74,109,000
Noncommerical | Consumer
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract]
Loans and leases acquired with deteriorated credit quality					3,202,000	3,014,000
Non-PCI Loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired Financing Receivable, Related Allowance					12,592,000	15,717,000
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 187,934,000	$ 177,949,000	$ 182,837,000	$ 179,874,000
Provision for Loan, Lease, and Other Losses	8,994,000	2,230,000	17,650,000	2,600,000
Charge-offs	(6,050,000)	(4,771,000)	(12,080,000)	(9,193,000)
Recoveries	1,971,000	1,507,000	4,442,000	3,634,000
Ending balance	192,849,000	176,915,000	192,849,000	176,915,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Loans and leases individually evaluated for impairment					125,006,000	119,593,000
Loans and leases collectively evaluated for impairment					18,271,940,000	17,463,374,000
Net loans and leases					18,396,946,000	17,582,967,000
ALLL for loans and leases individually evaluated for impairment					12,592,000	15,717,000
ALLL for loans and leases collectively evaluated for impairment					180,257,000	167,120,000
Total allowance for loan and lease losses	187,934,000	177,949,000	182,837,000	179,874,000	192,849,000	182,837,000	176,915,000	179,874,000
Non-PCI Loans | Commercial | Construction and land development
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	13,108,000	12,246,000	11,961,000	10,335,000
Provision for Loan, Lease, and Other Losses	88,000	(1,135,000)	1,191,000	750,000
Charge-offs	(221,000)	0	(239,000)	0
Recoveries	104,000	5,000	166,000	31,000
Ending balance	13,079,000	11,116,000	13,079,000	11,116,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Loans and leases individually evaluated for impairment					3,092,000	1,620,000
Loans and leases collectively evaluated for impairment					544,059,000	491,513,000
Net loans and leases					547,151,000	493,133,000
ALLL for loans and leases individually evaluated for impairment					445,000	92,000
ALLL for loans and leases collectively evaluated for impairment					12,634,000	11,869,000
Total allowance for loan and lease losses	13,108,000	12,246,000	11,961,000	10,335,000	13,079,000	11,961,000	11,116,000	10,335,000
Non-PCI Loans | Commercial | Mortgage
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	82,038,000	94,217,000	85,189,000	100,257,000
Provision for Loan, Lease, and Other Losses	(1,878,000)	(1,961,000)	(5,557,000)	(8,940,000)
Charge-offs	(47,000)	(272,000)	(280,000)	(440,000)
Recoveries	323,000	145,000	1,084,000	1,252,000
Ending balance	80,436,000	92,129,000	80,436,000	92,129,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Loans and leases individually evaluated for impairment					83,555,000	82,803,000
Loans and leases collectively evaluated for impairment					7,778,035,000	7,470,145,000
Net loans and leases					7,861,590,000	7,552,948,000
ALLL for loans and leases individually evaluated for impairment					7,744,000	8,610,000
ALLL for loans and leases collectively evaluated for impairment					72,692,000	76,579,000
Total allowance for loan and lease losses	82,038,000	94,217,000	85,189,000	100,257,000	80,436,000	85,189,000	92,129,000	100,257,000
Non-PCI Loans | Commercial | Other commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	1,031,000	945,000	732,000	1,009,000
Provision for Loan, Lease, and Other Losses	(227,000)	(155,000)	231,000	(229,000)
Charge-offs	(9,000)	0	(178,000)	0
Recoveries	9,000	16,000	19,000	26,000
Ending balance	804,000	806,000	804,000	806,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Loans and leases individually evaluated for impairment					401,000	584,000
Loans and leases collectively evaluated for impairment					287,813,000	244,291,000
Net loans and leases					288,214,000	244,875,000
ALLL for loans and leases individually evaluated for impairment					101,000	112,000
ALLL for loans and leases collectively evaluated for impairment					703,000	620,000
Total allowance for loan and lease losses	1,031,000	945,000	732,000	1,009,000	804,000	732,000	806,000	1,009,000
Non-PCI Loans | Commercial | Commercial and industrial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	36,954,000	24,021,000	30,727,000	22,362,000
Provision for Loan, Lease, and Other Losses	4,547,000	3,033,000	12,093,000	5,009,000
Charge-offs	(2,318,000)	(531,000)	(4,031,000)	(1,027,000)
Recoveries	209,000	386,000	603,000	565,000
Ending balance	39,392,000	26,909,000	39,392,000	26,909,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Loans and leases individually evaluated for impairment					12,416,000	11,040,000
Loans and leases collectively evaluated for impairment					2,187,175,000	1,977,894,000
Net loans and leases					2,199,591,000	1,988,934,000
ALLL for loans and leases individually evaluated for impairment					1,771,000	1,743,000
ALLL for loans and leases collectively evaluated for impairment					37,621,000	28,984,000
Total allowance for loan and lease losses	36,954,000	24,021,000	30,727,000	22,362,000	39,392,000	30,727,000	26,909,000	22,362,000
Non-PCI Loans | Commercial | Lease financing
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	4,293,000	4,183,000	4,286,000	4,749,000
Provision for Loan, Lease, and Other Losses	408,000	176,000	419,000	(348,000)
Charge-offs	(6,000)	(14,000)	(21,000)	(72,000)
Recoveries	11,000	20,000	22,000	36,000
Ending balance	4,706,000	4,365,000	4,706,000	4,365,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Loans and leases individually evaluated for impairment					1,448,000	623,000
Loans and leases collectively evaluated for impairment					642,060,000	571,293,000
Net loans and leases					643,508,000	571,916,000
ALLL for loans and leases individually evaluated for impairment					146,000	150,000
ALLL for loans and leases collectively evaluated for impairment					4,560,000	4,136,000
Total allowance for loan and lease losses	4,293,000	4,183,000	4,286,000	4,749,000	4,706,000	4,286,000	4,365,000	4,749,000
Non-PCI Loans | Commercial | Other
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	2,981,000	454,000	3,184,000	190,000
Provision for Loan, Lease, and Other Losses	(1,824,000)	163,000	(2,042,000)	435,000
Charge-offs	0	(5,000)	0	(13,000)
Recoveries	31,000	0	46,000	0
Ending balance	1,188,000	612,000	1,188,000	612,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Loans and leases individually evaluated for impairment					1,732,000	2,000,000
Loans and leases collectively evaluated for impairment					336,657,000	351,833,000
Net loans and leases					338,389,000	353,833,000
ALLL for loans and leases individually evaluated for impairment					17,000	1,972,000
ALLL for loans and leases collectively evaluated for impairment					1,171,000	1,212,000
Total allowance for loan and lease losses	2,981,000	454,000	3,184,000	190,000	1,188,000	3,184,000	612,000	190,000
Non-PCI Loans | Noncommerical | Construction and land development
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	1,056,000	1,249,000	892,000	681,000
Provision for Loan, Lease, and Other Losses	74,000	(323,000)	192,000	254,000
Charge-offs	0	(23,000)	(22,000)	(94,000)
Recoveries	3,000	2,000	71,000	64,000
Ending balance	1,133,000	905,000	1,133,000	905,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Loans and leases individually evaluated for impairment					860,000	1,340,000
Loans and leases collectively evaluated for impairment					226,420,000	203,676,000
Net loans and leases					227,280,000	205,016,000
ALLL for loans and leases individually evaluated for impairment					0	71,000
ALLL for loans and leases collectively evaluated for impairment					1,133,000	821,000
Total allowance for loan and lease losses	1,056,000	1,249,000	892,000	681,000	1,133,000	892,000	905,000	681,000
Non-PCI Loans | Noncommerical | Mortgage
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	11,328,000	10,944,000	10,661,000	10,511,000
Provision for Loan, Lease, and Other Losses	1,162,000	(1,557,000)	1,975,000	(948,000)
Charge-offs	(90,000)	(234,000)	(374,000)	(418,000)
Recoveries	305,000	148,000	443,000	156,000
Ending balance	12,705,000	9,301,000	12,705,000	9,301,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Loans and leases individually evaluated for impairment					16,424,000	14,913,000
Loans and leases collectively evaluated for impairment					2,580,640,000	2,478,145,000
Net loans and leases					2,597,064,000	2,493,058,000
ALLL for loans and leases individually evaluated for impairment					1,623,000	1,360,000
ALLL for loans and leases collectively evaluated for impairment					11,082,000	9,301,000
Total allowance for loan and lease losses	11,328,000	10,944,000	10,661,000	10,511,000	12,705,000	10,661,000	9,301,000	10,511,000
Non-PCI Loans | Noncommerical | Revolving mortgage
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	17,529,000	16,408,000	18,650,000	16,239,000
Provision for Loan, Lease, and Other Losses	31,000	1,252,000	(431,000)	2,605,000
Charge-offs	(616,000)	(1,064,000)	(1,409,000)	(2,324,000)
Recoveries	346,000	201,000	480,000	277,000
Ending balance	17,290,000	16,797,000	17,290,000	16,797,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Loans and leases individually evaluated for impairment					3,961,000	3,675,000
Loans and leases collectively evaluated for impairment					2,525,975,000	2,558,125,000
Net loans and leases					2,529,936,000	2,561,800,000
ALLL for loans and leases individually evaluated for impairment					168,000	1,052,000
ALLL for loans and leases collectively evaluated for impairment					17,122,000	17,598,000
Total allowance for loan and lease losses	17,529,000	16,408,000	18,650,000	16,239,000	17,290,000	18,650,000	16,797,000	16,239,000
Non-PCI Loans | Noncommerical | Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	17,616,000	13,282,000	16,555,000	13,541,000
Provision for Loan, Lease, and Other Losses	6,613,000	2,737,000	9,579,000	4,012,000
Charge-offs	(2,743,000)	(2,628,000)	(5,526,000)	(4,805,000)
Recoveries	630,000	584,000	1,508,000	1,227,000
Ending balance	22,116,000	13,975,000	22,116,000	13,975,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Loans and leases individually evaluated for impairment					1,117,000	995,000
Loans and leases collectively evaluated for impairment					1,163,106,000	1,116,459,000
Net loans and leases					1,164,223,000	1,117,454,000
ALLL for loans and leases individually evaluated for impairment					577,000	555,000
ALLL for loans and leases collectively evaluated for impairment					21,539,000	16,000,000
Total allowance for loan and lease losses	17,616,000	13,282,000	16,555,000	13,541,000	22,116,000	16,555,000	13,975,000	13,541,000
PCI Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	17,619,000	44,993,000	21,629,000	53,520,000
Provision for Loan, Lease, and Other Losses	(1,275,000)	(9,529,000)	(4,139,000)	(11,802,000)
Charge-offs	(876,000)	(6,133,000)	(2,022,000)	(12,387,000)
Recoveries	0	0	0	0
Ending balance	15,468,000	29,331,000	15,468,000	29,331,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Total allowance for loan and lease losses	17,619,000	44,993,000	21,629,000	53,520,000	15,468,000	21,629,000	29,331,000	53,520,000
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract]
Loans and leases acquired with deteriorated credit quality					1,123,239,000	1,186,498,000
PCI Loans | Commercial | Construction and land development
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	341,000	4,476,000	150,000	1,320,000
Provision for Loan, Lease, and Other Losses	325,000	(77,000)	516,000	3,278,000
Charge-offs	(97,000)	(596,000)	(97,000)	(795,000)
Recoveries	0	0	0	0
Ending balance	569,000	3,803,000	569,000	3,803,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Total allowance for loan and lease losses	341,000	4,476,000	150,000	1,320,000	569,000	150,000	3,803,000	1,320,000
PCI Loans | Commercial | Mortgage
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	8,876,000	23,003,000	10,135,000	29,906,000
Provision for Loan, Lease, and Other Losses	(2,065,000)	(1,185,000)	(2,990,000)	(4,571,000)
Charge-offs	(383,000)	(4,503,000)	(717,000)	(8,020,000)
Recoveries	0	0	0	0
Ending balance	6,428,000	17,315,000	6,428,000	17,315,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Total allowance for loan and lease losses	8,876,000	23,003,000	10,135,000	29,906,000	6,428,000	10,135,000	17,315,000	29,906,000
PCI Loans | Commercial | Other commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	194,000	1,204,000	75,000	1,354,000
Provision for Loan, Lease, and Other Losses	(125,000)	(797,000)	(6,000)	(947,000)
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Ending balance	69,000	407,000	69,000	407,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Total allowance for loan and lease losses	194,000	1,204,000	75,000	1,354,000	69,000	75,000	407,000	1,354,000
PCI Loans | Commercial | Commercial and industrial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	11,000	2,256,000	1,240,000	5,275,000
Provision for Loan, Lease, and Other Losses	399,000	(1,729,000)	(632,000)	(2,065,000)
Charge-offs	(87,000)	(152,000)	(285,000)	(2,835,000)
Recoveries	0	0	0	0
Ending balance	323,000	375,000	323,000	375,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Total allowance for loan and lease losses	11,000	2,256,000	1,240,000	5,275,000	323,000	1,240,000	375,000	5,275,000
PCI Loans | Noncommerical | Construction and land development
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	31,000	583,000	183,000	682,000
Provision for Loan, Lease, and Other Losses	(31,000)	(583,000)	(183,000)	(682,000)
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Ending balance	0	0	0	0
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Total allowance for loan and lease losses	31,000	583,000	183,000	682,000	0	183,000	0	682,000
PCI Loans | Noncommerical | Mortgage
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	4,872,000	9,764,000	5,820,000	11,802,000
Provision for Loan, Lease, and Other Losses	1,165,000	(2,176,000)	302,000	(4,476,000)
Charge-offs	(195,000)	(495,000)	(280,000)	(233,000)
Recoveries	0	0	0	0
Ending balance	5,842,000	7,093,000	5,842,000	7,093,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Total allowance for loan and lease losses	4,872,000	9,764,000	5,820,000	11,802,000	5,842,000	5,820,000	7,093,000	11,802,000
PCI Loans | Noncommerical | Revolving mortgage
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	3,271,000	3,493,000	3,999,000	2,959,000
Provision for Loan, Lease, and Other Losses	(1,112,000)	(3,031,000)	(1,767,000)	(2,397,000)
Charge-offs	(108,000)	(381,000)	(181,000)	(481,000)
Recoveries	0	0	0	0
Ending balance	2,051,000	81,000	2,051,000	81,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Total allowance for loan and lease losses	3,271,000	3,493,000	3,999,000	2,959,000	2,051,000	3,999,000	81,000	2,959,000
PCI Loans | Noncommerical | Consumer and Other
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	23,000	214,000	27,000	222,000
Provision for Loan, Lease, and Other Losses	169,000	49,000	621,000	58,000
Charge-offs	(6,000)	(6,000)	(462,000)	(23,000)
Recoveries	0	0	0	0
Ending balance	186,000	257,000	186,000	257,000
Allowance for Loans and Leases Evaluated for Impairment [Abstract]
Total allowance for loan and lease losses	$ 23,000	$ 214,000	$ 27,000	$ 222,000	186,000	27,000	$ 257,000	$ 222,000
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract]
Loans and leases acquired with deteriorated credit quality					$ 5,799,000	$ 6,093,000

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Derivatives (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Derivative [Line Items]
Fair value of collateral pledged to secure interest rate contracts	$ 2,000		$ 2,000		$ 7,000
Incremental interest expense paid to interest rate swap counterparties	830	$ 831	1,700	$ 1,700
2011 Interest Rate Swap
Derivative [Line Items]
Notional amount of interest rate derivatives	$ 93,500		$ 93,500
Fixed rate payments, interest rate	5.50%		5.50%		5.50%
Variable rate payment rate	1.75%		1.75%		1.75%

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Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Cash and due from banks	$ 514,404	$ 604,182
Overnight investments	1,703,341	1,724,919
Investment securities available for sale	7,350,194	7,171,917
Investment securities held to maturity	351	518
Loans held for sale	85,040	63,696
Purchased credit-impaired (PCI)	1,123,239	1,186,498
Less allowance for loan and lease losses	(208,317)	(204,466)
Net loans and leases	19,311,868	18,564,999
Loans and Leases Receivable, Gross	19,520,185	18,769,465
Premises and equipment	1,121,421	1,125,081
Other real estate owned:
Other Real Estate, Covered	12,890	22,982
Other Real Estate, Non Covered	60,358	70,454
Income earned not collected	66,729	57,254
FDIC Indemnification Asset	5,808	28,701
Goodwill	139,773	139,773
Other intangible assets	98,998	106,610
Other assets	425,680	394,027
Total assets	30,896,855	30,075,113
Liabilities
Noninterest-bearing	8,970,056	8,086,784
Interest-bearing	17,541,840	17,591,793
Total deposits	26,511,896	25,678,577
Short-term borrowings	723,225	987,184
Long-term obligations	475,568	351,320
FDIC loss share payable	122,038	116,535
Other liabilities	270,238	253,903
Total liabilities	28,102,965	27,387,519
Shareholders' Equity
Surplus	658,918	658,918
Retained earnings	2,174,121	2,069,647
Accumulated other comprehensive loss	(51,159)	(52,981)
Total shareholders' equity	2,793,890	2,687,594
Total liabilities and shareholders' equity	30,896,855	30,075,113
Class A Common Stock
Shareholders' Equity
Common stock	11,005	11,005
Class B Common Stock
Shareholders' Equity
Common stock	$ 1,005	$ 1,005

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Loans and Leases (Loans and Leases Outstanding) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Non-PCI loans	$ 18,396,946	$ 17,582,967
PCI loans	1,123,239	1,186,498	$ 1,109,933	$ 1,029,426
Total loans and leases	19,520,185	18,769,465
Commercial
Non-PCI loans	11,878,443	11,205,639
PCI loans	697,045	726,123
Commercial | Construction and land development
Non-PCI loans	547,151	493,133
PCI loans	48,208	78,079
Commercial | Mortgage
Non-PCI loans	7,861,590	7,552,948
PCI loans	611,505	577,518
Commercial | Other commercial real estate
Non-PCI loans	288,214	244,875
PCI loans	14,353	40,193
Commercial | Commercial and industrial
Non-PCI loans	2,199,591	1,988,934
PCI loans	20,382	27,254
Commercial | Lease financing
Non-PCI loans	643,508	571,916
Commercial | Other
Non-PCI loans	338,389	353,833
PCI loans	2,597	3,079
Noncommerical
Non-PCI loans	6,518,503	6,377,328
PCI loans	426,194	460,375
Noncommerical | Construction and land development
Non-PCI loans	227,280	205,016
PCI loans	345	912
Noncommerical | Mortgage
Non-PCI loans	2,597,064	2,493,058
PCI loans	358,307	382,340
Noncommerical | Revolving mortgage
Non-PCI loans	2,529,936	2,561,800
PCI loans	64,340	74,109
Noncommerical | Consumer
Non-PCI loans	1,164,223	1,117,454
PCI loans	$ 3,202	$ 3,014

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Consolidated Statements of Changes In Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Surplus	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2013	$ 2,071,462	$ 8,586	$ 1,033	$ 143,766	$ 1,943,345	$ (25,268)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	49,165	0	0	0	49,165	0
Net current period other comprehensive income	29,325	0	0	0	0	29,325
Cash dividends	(5,771)	0	0	0	(5,771)	0
Ending balance at Jun. 30, 2014	2,144,181	8,586	1,033	143,766	1,986,739	4,057
Beginning balance at Dec. 31, 2014	2,687,594	11,005	1,005	658,918	2,069,647	(52,981)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	111,680	0	0	0		0
Net current period other comprehensive income	1,822	0	0	0	0
Cash dividends	(7,206)	0	0	0	(7,206)	0
Ending balance at Jun. 30, 2015	$ 2,793,890	$ 11,005	$ 1,005	$ 658,918	$ 2,174,121	$ (51,159)

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Mortgage Servicing Rights (MSR Carrying Value) ((Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Servicing Asset at Amortized Cost [Line Items]
Mortgage servicing rights	$ 18,162	$ 0	$ 18,162	$ 0	$ 16,436	$ 16,688	$ 0	$ 16
Amortization of Mortgage Servicing Rights (MSRs)	(1,110)	0	(1,962)	(164)
Servicing Asset at Amortized Cost, Additions	1,927	0	2,589	0
Valuation allowance provision	909	0	847	0
1st Financial
Servicing Asset at Amortized Cost [Line Items]
Servicing Asset at Amortized Cost, Additions	$ 0	$ 0	$ 0	$ 148

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Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2015

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule Of Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss) included the following as of June 30, 2015 and December 31, 2014:

	June 30, 2015									December 31, 2014
(Dollars in thousands)	Accumulated other comprehensive income (loss)			Deferred tax expense (benefit)			Accumulated other comprehensive income (loss), net of tax			Accumulated other comprehensive income (loss)			Deferred tax expense (benefit)			Accumulated other comprehensive income (loss), net of tax
Unrealized gains on investment securities available for sale, net	$	4,259		$	1,655		$	2,604		$	8,343		$	3,245		$	5,098
Unrealized loss on cash flow hedge	(3,052		)	(1,177		)	(1,875		)	(4,337		)	(1,673		)	(2,664		)
Funded status of defined benefit plan	(84,923		)	(33,035		)	(51,888		)	(90,696		)	(35,281		)	(55,415		)
Total	$	(83,716	)	$	(32,557	)	$	(51,159	)	$	(86,690	)	$	(33,709	)	$	(52,981	)

The following table highlights changes in accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2015 and June 30, 2014:

	Three months ended June 30, 2015
(Dollars in thousands)	Unrealized gains (losses) on available for sale securities1			Gains (losses) on cash flow hedges1			Defined benefit pension items1			Total
Beginning balance	$	20,551		$	(2,310	)	$	(53,652	)	$	(35,411	)
Other comprehensive (loss) income before reclassifications	(17,874		)	435			—			(17,439		)
Amounts reclassified from accumulated other comprehensive income (loss)	(73		)	—			1,764			1,691
Net current period other comprehensive (loss) income	(17,947		)	435			1,764			(15,748		)
Ending balance	$	2,604		$	(1,875	)	$	(51,888	)	$	(51,159	)
	Three months ended June 30, 2014
	Unrealized gains (losses) on available for sale securities1			Gains (losses) on cash flow hedges1			Defined benefit pension items1			Total
Beginning balance	$	(2,835	)	$	(3,993	)	$	(9,766	)	$	(16,594	)
Other comprehensive income before reclassifications	19,325			350			—			19,675
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			976			976
Net current period other comprehensive income	19,325			350			976			20,651
Ending balance	$	16,490		$	(3,643	)	$	(8,790	)	$	4,057
	Six months ended June 30, 2015
	Unrealized gains (losses) on available for sale securities1			Gains (losses) on cash flow hedges1			Defined benefit pension items1			Total
Beginning balance	$	5,098		$	(2,664	)	$	(55,415	)	$	(52,981	)
Other comprehensive income before reclassifications	728			789			—			1,517
Amounts reclassified from accumulated other comprehensive income (loss)	(3,222		)	—			3,527			305
Net current period other comprehensive (loss) income	(2,494		)	789			3,527			1,822
Ending balance	$	2,604		$	(1,875	)	$	(51,888	)	$	(51,159	)
	Six months ended June 30, 2014
	Unrealized gains (losses) on available for sale securities1			Gains (losses) on cash flow hedges1			Defined benefit pension items1			Total
Beginning balance	$	(10,091	)	$	(4,434	)	$	(10,743	)	$	(25,268	)
Other comprehensive income before reclassifications	26,581			791			—			27,372
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			1,953			1,953
Net current period other comprehensive income	26,581			791			1,953			29,325
Ending balance	$	16,490		$	(3,643	)	$	(8,790	)	$	4,057

¹ All amounts are net of tax.

Reclassification out of Accumulated Other Comprehensive Income

(Dollars in thousands)	Three months ended June 30, 2015
Details about accumulated other comprehensive income (loss)	Amount reclassified from accumulated other comprehensive income (loss)1			Affected line item in the statement where net income is presented
Unrealized gains and losses on available for sale securities	$	147		Securities gains
	(74		)	Income taxes
	$	73		Net income
Amortization of defined benefit pension items
Prior service costs	$	(52	)	Employee benefits
Actuarial losses	(2,835		)	Employee benefits
	(2,887		)	Employee benefits
	1,123			Income taxes
	$	(1,764	)	Net income
Total reclassifications for the period	$	(1,691	)
	Three months ended June 30, 2014
Details about accumulated other comprehensive income (loss)	Amount reclassified from accumulated other comprehensive income (loss)1			Affected line item in the statement where net income is presented
Amortization of defined benefit pension items
Prior service costs	$	(52	)	Employee benefits
Actuarial losses	(1,546		)	Employee benefits
	(1,598		)	Employee benefits
	622			Income taxes
	$	(976	)	Net income
Total reclassifications for the period	$	(976	)
	Six months ended June 30, 2015
Details about accumulated other comprehensive income (loss)	Amount reclassified from accumulated other comprehensive income (loss)1			Affected line item in the statement where net income is presented
Unrealized gains and losses on available for sale securities	$	5,273		Securities gains
	(2,051		)	Income taxes
	$	3,222		Net income
Amortization of defined benefit pension items
Prior service costs	$	(105	)	Employee benefits
Actuarial losses	(5,668		)	Employee benefits
	(5,773		)	Employee benefits
	2,246			Income taxes
	$	(3,527	)	Net income
Total reclassifications for the period	$	(305	)
	Six months ended June 30, 2014
Details about accumulated other comprehensive icnome (loss)	Amount reclassified from accumulated other comprehensive income (loss)1			Affected line item in the statement where net income is presented
Amortization of defined benefit pension items
Prior service costs	$	(105	)	Employee benefits
Actuarial losses	(3,092		)	Employee benefits
	(3,197		)	Employee benefits
	1,244			Income taxes
	$	(1,953	)	Net income
Total reclassifications for the period	$	(1,953	)

¹ Amounts in parentheses indicate debits to profit/loss.

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Estimated Fair Values (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investment securities available for sale, fair value	$ 7,350,194	$ 7,171,917
Liability transfers between Level 1 and Level 2	0
Asset transfers between Level 1 and Level 2	0
Liability transfers between Level 2 and Level 1	0
Asset transfers between Level 2 and Level 1	0
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability measured at fair value on nonrecurring basis	$ 0	$ 0
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discounts for collateral value estimates due to estimated holding and selling costs (percent)	10.00%	10.00%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discounts for collateral value estimates due to estimated holding and selling costs (percent)	14.00%	14.00%

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Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2015

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Loss

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) included the following as of June 30, 2015 and December 31, 2014:

	June 30, 2015									December 31, 2014
(Dollars in thousands)	Accumulated other comprehensive income (loss)			Deferred tax expense (benefit)			Accumulated other comprehensive income (loss), net of tax			Accumulated other comprehensive income (loss)			Deferred tax expense (benefit)			Accumulated other comprehensive income (loss), net of tax
Unrealized gains on investment securities available for sale, net	$	4,259		$	1,655		$	2,604		$	8,343		$	3,245		$	5,098
Unrealized loss on cash flow hedge	(3,052		)	(1,177		)	(1,875		)	(4,337		)	(1,673		)	(2,664		)
Funded status of defined benefit plan	(84,923		)	(33,035		)	(51,888		)	(90,696		)	(35,281		)	(55,415		)
Total	$	(83,716	)	$	(32,557	)	$	(51,159	)	$	(86,690	)	$	(33,709	)	$	(52,981	)

The following table highlights changes in accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2015 and June 30, 2014:

	Three months ended June 30, 2015
(Dollars in thousands)	Unrealized gains (losses) on available for sale securities1			Gains (losses) on cash flow hedges1			Defined benefit pension items1			Total
Beginning balance	$	20,551		$	(2,310	)	$	(53,652	)	$	(35,411	)
Other comprehensive (loss) income before reclassifications	(17,874		)	435			—			(17,439		)
Amounts reclassified from accumulated other comprehensive income (loss)	(73		)	—			1,764			1,691
Net current period other comprehensive (loss) income	(17,947		)	435			1,764			(15,748		)
Ending balance	$	2,604		$	(1,875	)	$	(51,888	)	$	(51,159	)
	Three months ended June 30, 2014
	Unrealized gains (losses) on available for sale securities1			Gains (losses) on cash flow hedges1			Defined benefit pension items1			Total
Beginning balance	$	(2,835	)	$	(3,993	)	$	(9,766	)	$	(16,594	)
Other comprehensive income before reclassifications	19,325			350			—			19,675
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			976			976
Net current period other comprehensive income	19,325			350			976			20,651
Ending balance	$	16,490		$	(3,643	)	$	(8,790	)	$	4,057
	Six months ended June 30, 2015
	Unrealized gains (losses) on available for sale securities1			Gains (losses) on cash flow hedges1			Defined benefit pension items1			Total
Beginning balance	$	5,098		$	(2,664	)	$	(55,415	)	$	(52,981	)
Other comprehensive income before reclassifications	728			789			—			1,517
Amounts reclassified from accumulated other comprehensive income (loss)	(3,222		)	—			3,527			305
Net current period other comprehensive (loss) income	(2,494		)	789			3,527			1,822
Ending balance	$	2,604		$	(1,875	)	$	(51,888	)	$	(51,159	)
	Six months ended June 30, 2014
	Unrealized gains (losses) on available for sale securities1			Gains (losses) on cash flow hedges1			Defined benefit pension items1			Total
Beginning balance	$	(10,091	)	$	(4,434	)	$	(10,743	)	$	(25,268	)
Other comprehensive income before reclassifications	26,581			791			—			27,372
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			1,953			1,953
Net current period other comprehensive income	26,581			791			1,953			29,325
Ending balance	$	16,490		$	(3,643	)	$	(8,790	)	$	4,057

¹ All amounts are net of tax. Amounts in parentheses indicate debits.

The following table presents the amounts reclassified from accumulated other comprehensive income (loss) and the line item affected in the statement where net income is presented for the six months ended June 30, 2015 and June 30, 2014:

(Dollars in thousands)	Three months ended June 30, 2015
Details about accumulated other comprehensive income (loss)	Amount reclassified from accumulated other comprehensive income (loss)1			Affected line item in the statement where net income is presented
Unrealized gains and losses on available for sale securities	$	147		Securities gains
	(74		)	Income taxes
	$	73		Net income
Amortization of defined benefit pension items
Prior service costs	$	(52	)	Employee benefits
Actuarial losses	(2,835		)	Employee benefits
	(2,887		)	Employee benefits
	1,123			Income taxes
	$	(1,764	)	Net income
Total reclassifications for the period	$	(1,691	)
	Three months ended June 30, 2014
Details about accumulated other comprehensive income (loss)	Amount reclassified from accumulated other comprehensive income (loss)1			Affected line item in the statement where net income is presented
Amortization of defined benefit pension items
Prior service costs	$	(52	)	Employee benefits
Actuarial losses	(1,546		)	Employee benefits
	(1,598		)	Employee benefits
	622			Income taxes
	$	(976	)	Net income
Total reclassifications for the period	$	(976	)
	Six months ended June 30, 2015
Details about accumulated other comprehensive income (loss)	Amount reclassified from accumulated other comprehensive income (loss)1			Affected line item in the statement where net income is presented
Unrealized gains and losses on available for sale securities	$	5,273		Securities gains
	(2,051		)	Income taxes
	$	3,222		Net income
Amortization of defined benefit pension items
Prior service costs	$	(105	)	Employee benefits
Actuarial losses	(5,668		)	Employee benefits
	(5,773		)	Employee benefits
	2,246			Income taxes
	$	(3,527	)	Net income
Total reclassifications for the period	$	(305	)
	Six months ended June 30, 2014
Details about accumulated other comprehensive icnome (loss)	Amount reclassified from accumulated other comprehensive income (loss)1			Affected line item in the statement where net income is presented
Amortization of defined benefit pension items
Prior service costs	$	(105	)	Employee benefits
Actuarial losses	(3,092		)	Employee benefits
	(3,197		)	Employee benefits
	1,244			Income taxes
	$	(1,953	)	Net income
Total reclassifications for the period	$	(1,953	)

¹ Amounts in parentheses indicate debits to profit/loss.

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Accounting Policies and Basis of Presentation Accounting Policies and Basis of Presentation (Recently Adopted Accounting Standards) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2012	Dec. 31, 2014
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Prior Period Reclassification Adjustment	$ 3,300
Qualified Affordable Housing Project Investments	$ 76,400		$ 57,100
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification		$ 2,400

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Business Combinations (Tables)

6 Months Ended

Jun. 30, 2015

Business Combinations [Abstract]

Pro Forma Financial Information for Bancorporation Acquisition

	Three months ended June 30		Six months ended June 30
(Dollars in thousands)	2014		2014
Total revenue (interest income plus noninterest income)	$	330,253	$	653,777
Net income	$	40,259	$	77,489

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Estimated Fair Values Estimated Fair Values (Fair Value Option) (Details) - Loans Held For Sale - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) From Fair Value Changes	$ (461)	$ (31)
Fair Value Of Items For Which Fair Value Option Was Elected Assets	85,040	85,040	$ 63,696
Aggregate Unpaid Principal Balance Of Items For Which Fair Value Option Was Elected Assets	84,257	84,257	62,996
Fair Value Option Aggregate Difference Assets	$ 783	$ 783	$ 700

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Consolidated Statements of Changes In Shareholders' Equity (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)		$ 0.30
Class A Common Stock
Statement of Stockholders' Equity [Abstract]
Repurchase of common stock (in shares)	0	0
Class B Common Stock
Statement of Stockholders' Equity [Abstract]
Repurchase of common stock (in shares)	0	0

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Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Class A Common Stock
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shared authorized	16,000,000	16,000,000
Common stock, shares issued	11,005,220	11,005,220
Common stock, shares outstanding	11,005,220	11,005,220
Class B Common Stock
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shared authorized	2,000,000	2,000,000
Common stock, shares issued	1,005,185	1,005,185
Common stock, shares outstanding	1,005,185	1,005,185

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Repurchase Agreements

6 Months Ended

Jun. 30, 2015

Repurchase Agreements [Abstract]

Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block]

NOTE I - REPURCHASE AGREEMENTS

We utilize securities sold under agreements to repurchase to facilitate the needs of our customers and secure long-term funding needs. Repurchase agreements are transactions whereby we offer to sell to a counterparty an undivided interest in an eligible security at an agreed upon purchase price, and which obligates BancShares to repurchase the security on an agreed upon date at an agreed upon repurchase price plus interest at an agreed upon rate. Securities sold under agreements to repurchase are recorded at the amount of cash received in connection with the transaction and are reflected as short-term borrowings on the Consolidated Balance Sheets.

We monitor collateral levels on a continuous basis and maintain records of each transaction specifically describing the applicable security and the counterparty’s fractional interest in that security, and we segregate the security from its general assets in accordance with regulations governing custodial holdings of securities. The primary risk with our repurchase agreements is market risk associated with the investments securing the transactions, as we may be required to provide additional collateral based on fair value changes of the underlying investments. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents. The carrying value of available for sale investment securities pledged as collateral under repurchase agreements totaled $869.0 million and $418.3 million at June 30, 2015 and December 31, 2014, respectively.

The remaining contractual maturity of the securities sold under agreements to repurchase by class of collateral pledged included in short-term borrowings in the Consolidated Balance Sheets as of June 30, 2015 and December 31, 2014 is presented in the following tables.

	June 30, 2015
	Remaining Contractual Maturity of the Agreements
(Dollars in thousands)	Overnight and continuous		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
Repurchase agreements
U.S. Treasury	$	710,674	$	—	$	—	$	23,092	$	733,766
Government agency	—		—		—		6,908		6,908
Total borrowings	$	710,674	$	—	$	—	$	30,000	$	740,674
Gross amount of recognized liabilities for repurchase agreements									$	740,674
	December 31, 2014
	Remaining Contractual Maturity of the Agreements
	Overnight and continuous		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
Repurchase agreements
U.S. Treasury	$	162,924	$	—	$	—	$	23,086	$	186,010
Government agency	—		—		—		6,914		6,914
Mortgage-backed securities	131,501		—		—		—		131,501
Total borrowings	$	294,425	$	—	$	—	$	30,000	$	324,425
Gross amount of recognized liabilities for repurchase agreements									$	324,425

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Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 04, 2015
Entity Registrant Name	FIRST CITIZENS BANCSHARES INC /DE/
Entity Central Index Key	0000798941
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Stock
Entity Common Stock, Shares Outstanding		11,005,220
Class B Common Stock
Entity Common Stock, Shares Outstanding		1,005,185

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Estimated Fair Values

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Estimated Fair Values

ESTIMATED FAIR VALUES

Fair value estimates are intended to represent the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. Where there is no active market for a financial instrument, BancShares has made estimates using discounted cash flows or other valuation techniques. Inputs to these valuation methods are subjective in nature, involve uncertainties and require significant judgment and therefore cannot be determined with precision. Accordingly, the derived fair value estimates presented below are not necessarily indicative of the amounts BancShares could realize in a current market exchange.

ASC 820, Fair Value Measurements and Disclosures, indicates that assets and liabilities are recorded at fair value according to a fair value hierarchy comprised of three levels. The levels are based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. The level within the fair value hierarchy for an asset or liability is based on the highest level of input that is significant to the fair value measurement (with level 1 considered highest and level 3 considered lowest). A brief description of each level follows:

• Level 1 values are based on quoted prices for identical instruments in active markets.

• Level 2 values are based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market.

• Level 3 values are generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates that market participants would use in pricing the asset or liability. Valuation techniques include the use of discounted cash flow models and similar techniques.

Valuation adjustments, such as those pertaining to counterparty and BancShares' own credit quality and liquidity, may be necessary to ensure that assets and liabilities are recorded at fair value. Credit valuation adjustments are made when market pricing does not accurately reflect the counterparty's credit quality. As determined by BancShares management, liquidity valuation adjustments may be made to the fair value of certain assets to reflect the uncertainty in the pricing and trading of the instruments when we are unable to observe recent market transactions for identical or similar instruments.

BancShares management reviews any changes to its valuation methodologies to ensure they are appropriate and justified, and refines valuation methodologies as more market-based data becomes available. Transfers between levels of the fair value hierarchy are recognized at the end of the reporting period.

The methodologies used to estimate the fair value of financial assets and financial liabilities are discussed below:

Investment securities available for sale. U.S.Treasury, government agency, mortgage-backed securities, municipal securities and trust preferred securities are generally measured at fair value using a third party pricing service or recent comparable market transactions in similar or identical securities and are classified as level 2 instruments.

Loans held for sale. Certain residential real estate loans are originated to be sold to investors, which are carried at fair value as BancShares elected the fair value option on loans held for sale in 2014. The fair value is based on quoted market prices for similar types of loans. Accordingly, the inputs used to calculate fair value of residential real estate loans held for sale are classified as level 2 inputs.

Net loans and leases (PCI and Non-PCI). Fair value is estimated based on discounted future cash flows using the current interest rates at which loans with similar terms would be made to borrowers of similar credit quality. An additional valuation adjustment is made for liquidity. The inputs used in the fair value measurements for loans and leases are considered level 3 inputs.

FHLB stock. The carrying amount of FHLB stock is a reasonable estimate of fair value as these securities are not readily marketable and are evaluated for impairment based on the ultimate recoverability of the par value. BancShares considers positive and negative evidence, including the profitability and asset quality of the issuer, dividend payment history and recent redemption experience, when determining the ultimate recoverability of the par value. BancShares believes its investment in FHLB stock is ultimately recoverable at par. The inputs used in the fair value measurement for the FHLB stock are considered level 2 inputs.

Preferred stock issued under the TARP program and other acquired financial assets. Preferred securities issued under the Troubled Asset Recovery Program are recorded at cost and are evaluated quarterly for impairment based on the ultimate recoverability of the purchase price. The fair value of these securities is derived from a third-party proprietary model that is considered to be a level 3 input. Other acquired financial assets represent acquired investments in various entities for Community Reinvestment Act and correspondent banking purposes. These investments were recorded at fair value at acquisition date based on level 2 inputs.

Mortgage servicing rights. Mortgage servicing rights are carried at the lower of amortized cost or market and are, therefore, carried at fair value only when fair value is less than the asset cost. The fair value of mortgage servicing rights is performed using a pooling methodology. Similar loans are pooled together and a model that relies on discount rates, estimates of prepayment rates and the weighted average cost to service the loans is used to determine the fair value. The inputs used in the fair value measurement for mortgage servicing rights are considered level 3 inputs.

Deposits. For non-time deposits, carrying value is a reasonable estimate of fair value. The fair value of time deposits is estimated by discounting future cash flows using the interest rates currently offered for deposits of similar remaining maturities. The inputs used in the fair value measurement for deposits are considered level 2 inputs.    

Long-term obligations. For fixed rate trust preferred securities, the fair values are determined based on recent trades of the actual security if available. For other long-term obligations, fair values are estimated by discounting future cash flows using current interest rates for similar financial instruments. The inputs used in the fair value measurement for long-term obligations are considered level 2 inputs.

Payable to the FDIC for loss share agreements. The fair value of the payable to the FDIC for loss share agreements is determined by the projected cash flows based on expected payments to the FDIC in accordance with the loss share agreements. Cash flows are discounted using current discount rates to reflect the timing of the estimated amounts due to the FDIC. The inputs used in the fair value measurement for the payable to the FDIC are considered level 3 inputs.

Interest rate swap. Under the terms of the existing cash flow hedge, BancShares pays a fixed payment to the counterparty in exchange for receipt of a variable payment that is determined based on the three-month LIBOR rate. The fair value of the cash flow hedge is, therefore, based on projected LIBOR rates for the duration of the hedge, values that, while observable in the market, are subject to adjustment due to pricing considerations for the specific instrument. The inputs used in the fair value measurement of the interest rate swap are considered level 2 inputs.

Off-balance-sheet commitments and contingencies. Carrying amounts are reasonable estimates of the fair values for such financial instruments. Carrying amounts include unamortized fee income and, in some cases, reserves for any credit losses from those financial instruments. These amounts are not material to BancShares' financial position.

For all other financial assets and financial liabilities, the carrying value is a reasonable estimate of the fair value as of June 30, 2015 and December 31, 2014. The carrying value and fair value for these assets and liabilities are equivalent because they are relatively short term in nature and there is no interest rate or credit risk that would cause the fair value to differ from the carrying value.

(Dollars in thousands)	June 30, 2015				December 31, 2014
	Carrying value		Fair value		Carrying value		Fair value
Cash and due from banks	$	514,404	$	514,404	$	604,182	$	604,182
Overnight investments	1,703,341		1,703,341		1,724,919		1,724,919
Investment securities available for sale	7,350,194		7,350,194		7,171,917		7,171,917
Investment securities held to maturity	351		365		518		544
Loans held for sale	85,040		85,040		63,696		63,696
Net loans and leases	19,311,868		18,755,676		18,564,999		18,046,497
Receivable from the FDIC for loss share agreements (1)	5,808		5,808		28,701		18,218
Income earned not collected	66,729		66,729		57,254		57,254
Federal Home Loan Bank stock	27,736		27,736		39,113		39,113
Preferred stock and other acquired financial assets	3,016		3,061		13,689		14,708
Mortgage servicing rights	18,162		20,078		16,688		16,736
Deposits	26,511,896		25,915,474		25,678,577		25,164,683
Short-term borrowings	723,225		723,225		987,184		987,184
Long-term obligations	475,568		493,715		351,320		367,732
Payable to the FDIC for loss share agreements	122,038		128,049		116,535		122,168
Accrued interest payable	5,835		5,835		8,194		8,194
Interest rate swap	3,052		3,052		4,337		4,337

⁽¹⁾ At June 30, 2015, the carrying value of the FDIC receivable approximates the fair value due to the short term nature of the majority of loss share agreements. At December 31, 2014, the fair value of the FDIC receivable is estimated based on discounted future cash flows using current discount rates and excludes receivable related to accretable yield to be amortized in prospective periods.

Among BancShares’ assets and liabilities, investment securities available for sale, loans held for sale and interest rate swaps accounted for as cash flow hedges are reported at their fair values on a recurring basis. Certain other assets are adjusted to their fair value on a nonrecurring basis, including impaired loans, OREO, goodwill, which is periodically tested for impairment and mortgage servicing rights, which are carried at the lower of amortized cost or market. Non-impaired loans held for investment, deposits, short-term borrowings and long-term obligations are not reported at fair value.

For assets and liabilities carried at fair value on a recurring basis, the following table provides fair value information as of June 30, 2015 and December 31, 2014.

	June 30, 2015
			Fair value measurements using:
(Dollars in thousands)	Fair value		Level 1 inputs		Level 2 inputs		Level 3 inputs
Assets measured at fair value
Investment securities available for sale
U.S. Treasury	$	2,206,859	$	—	$	2,206,859	$	—
Government agency	776,244		—		776,244		—
Mortgage-backed securities	4,367,091		—		4,367,091		—
Total investment securities available for sale	7,350,194		—		7,350,194		—
Loans held for sale	85,040		—		85,040		—
Liabilities measured at fair value
Interest rate swaps accounted for as cash flow hedges	$	3,052	$	—	$	3,052	$	—
	December 31, 2014
			Fair value measurements using:
	Fair value		Level 1 inputs		Level 2 inputs		Level 3 inputs
Assets measured at fair value
Investment securities available for sale
U.S. Treasury	$	2,629,670	$	—	$	2,629,670	$	—
Government agency	908,817		—		908,817		—
Mortgage-backed securities	3,633,304		—		3,633,304		—
Municipal securities	126		—		126		—
Total investment securities available for sale	7,171,917		—		7,171,917		—
Loans held for sale	63,696		—		63,696		—
Liabilities measured at fair value
Interest rate swaps accounted for as cash flow hedges	$	4,337	$	—	$	4,337	$	—

There were no transfers between levels during the six months ended June 30, 2015.

Fair Value Option

Beginning in the fourth quarter of 2014, BancShares elected the fair value option for residential real estate loans held for sale. This election reduces certain timing differences in the Consolidated Statement of Income and better aligns with the management of the portfolio from a business perspective.

The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for residential real estate loans held for sale measured at fair value as of June 30, 2015 and December 31, 2014.

	June 30, 2015
(Dollars in thousands)	Fair Value		Aggregate Unpaid Principal Balance		Difference
Loans held for sale	$	85,040	$	84,257	$	783
	December 31, 2014
	Fair Value		Aggregate Unpaid Principal Balance		Difference
Loans held for sale	$	63,696	$	62,996	$	700

No loans held for sale were 90 or more days past due or on nonaccrual status as of June 30, 2015 or December 31, 2014.

The changes in fair value for residential real estate loans held for sale for which we elected the fair value option are included in the table below for the three and six months ended June 30, 2015.

	Three months ended June 30, 2015			Six months ended June 30, 2015
(Dollars in thousands)	Gains(Losses) From Fair Value Changes			Gains(Losses) From Fair Value Changes
Loans held for sale	$	(461	)	$	(31	)

The changes in fair value in the table above are recorded as a component of mortgage income on the Consolidated Statements of Income.

Certain other assets are adjusted to their fair value on a nonrecurring basis, including impaired loans, OREO, goodwill, which are periodically tested for impairment, and mortgage servicing rights, which are carried at the lower of amortized cost or market. Non-impaired loans held for investment, deposits, short-term borrowings and long-term obligations are not reported at fair value.

Impaired loans are deemed to be at fair value if an associated allowance or current period charge-off has been recorded. The value of impaired loans is determined by either collateral valuations or discounted present value of the expected cash flow calculations. Collateral values are determined using appraisals or other third-party value estimates of the subject property with discounts generally between 10 and 14 percent applied for estimated holding and selling costs and other external factors that may impact the marketability of the property. Impaired loans are assigned to an asset manager and monitored monthly for significant changes since the last valuation date. If significant changes are noted, the asset manager orders a new valuation or adjusts the valuation accordingly. Expected cash flows are determined using expected payment information at the individual loan level, discounted using the effective interest rate. The effective interest rate generally ranges between 2 and 16 percent.

OREO is measured and reported at fair value using collateral valuations. Collateral values are determined using appraisals or other third-party value estimates of the subject property with discounts generally between 10 and 14 percent applied for estimated holding and selling costs and other external factors that may impact the marketability of the property. Changes to the value of the assets between scheduled valuation dates are monitored through continued communication with brokers and monthly reviews by the asset manager assigned to each asset. The asset manager uses the information gathered from brokers and other market sources to identify any significant changes in the market or the subject property as they occur. Valuations are then adjusted or new appraisals are ordered to ensure the reported values reflect the most current information. OREO that has been acquired or written down in the current year is deemed to be at fair value and included in the table below.

Mortgage servicing rights are carried at the lower of cost or market and are, therefore, carried at fair value only when fair value is less than the amortized asset cost. The fair value of mortgage servicing rights is performed using a pooling methodology. Similar loans are pooled together and a discounted cash flow model, which takes into consideration discount rates, prepayment rates, and the weighted average cost to service the loans, is used to determine the fair value. See Note H for further information on the discount rates, prepayment rates and the weighted average cost to service the loans.

For financial assets and liabilities carried at fair value on a nonrecurring basis, the following table provides fair value information as of June 30, 2015 and December 31, 2014.

	June 30, 2015
			Fair value measurements using:
(Dollars in thousands)	Fair value		Level 1 inputs		Level 2 inputs		Level 3 inputs
Impaired loans	$	70,446	$	—	$	—	$	70,446
Other real estate not covered under loss share agreements remeasured during current year	22,644		—		—		22,644
Other real estate covered under loss share agreements remeasured during current year	3,749		—		—		3,749
Mortgage servicing rights	221		—		—		221
	December 31, 2014
			Fair value measurements using:
	Fair value		Level 1 inputs		Level 2 inputs		Level 3 inputs
Impaired loans	$	73,170	$	—	$	—	$	73,170
Other real estate not covered under loss share agreements remeasured during current year	40,714		—		—		40,714
Other real estate covered under loss share agreements remeasured during current year	17,664		—		—		17,664
Mortgage servicing rights	13,562		—		—		13,562

No financial liabilities were carried at fair value on a nonrecurring basis as of June 30, 2015 and December 31, 2014.

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Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest income
Loans and leases	$ 222,682	$ 164,108	$ 433,544	$ 325,142
Investment securities:
Total investment securities interest and dividend income	21,806	12,447	41,116	24,195
Overnight investments	1,525	756	2,863	1,368
Total interest income	246,013	177,311	477,523	350,705
Interest expense
Deposits	5,534	6,006	11,163	12,831
Short-term borrowings	1,658	1,551	3,592	2,136
Long-term obligations	4,171	4,056	7,953	9,109
Total interest expense	11,363	11,613	22,708	24,076
Net interest income	234,650	165,698	454,815	326,629
Provision (credit) for loan and lease losses	7,719	(7,299)	13,511	(9,202)
Net interest income after provision for loan and lease losses	226,931	172,997	441,304	335,831
Noninterest income
Gain on acquisition	0	0	42,930	0
Cardholder services	19,214	13,257	37,615	25,089
Merchant services	22,070	15,035	40,950	28,556
Service charges on deposit accounts	22,361	15,265	44,419	29,705
Wealth management services	21,555	15,815	42,435	30,695
Fees and Commissions, Correspondent Clearing	45	5,682	95	10,543
Securities gains (losses)	147	0	5,273	0
Other service charges and fees	5,685	4,250	11,140	8,194
Mortgage income	5,571	1,210	10,120	2,165
Insurance commissions	2,456	2,253	5,753	5,540
ATM income	1,825	1,260	3,489	2,462
Adjustments for FDIC receivable for loss share agreements	(4,553)	(15,295)	(5,600)	(27,644)
Other	11,074	7,857	19,584	13,598
Total noninterest income	107,450	66,589	258,203	128,903
Noninterest expense
Salaries and wages	110,685	81,839	217,228	161,192
Employee benefits	27,212	19,741	57,358	39,841
Occupancy expense	25,532	20,300	51,152	40,710
Equipment expense	23,296	19,581	46,837	38,354
FDIC insurance expense	4,551	2,640	8,822	5,276
Foreclosure-related expenses	1,019	3,858	3,576	9,268
Merger-related expenses	4,573	3,450	7,570	5,903
Other	67,823	47,611	130,314	89,506
Total noninterest expense	264,691	199,020	522,857	390,050
Income before income taxes	69,690	40,566	176,650	74,684
Income taxes	25,168	13,880	64,970	25,519
Net income	$ 44,522	$ 26,686	$ 111,680	$ 49,165
Average shares outstanding (in shares)	12,010,405	9,618,941	12,010,405	9,618,941
Net income per share	$ 3.71	$ 2.77	$ 9.30	$ 5.11

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Loans and Leases

6 Months Ended

Jun. 30, 2015

Loans and Leases Receivable Disclosure [Abstract]

Loans and Leases

LOANS AND LEASES

BancShares' accounting methods for loans and leases differ depending on whether they are purchased credit-impaired (PCI) or non-PCI. Non-PCI loans and leases include originated commercial, originated noncommercial, purchased revolving, and purchased non-impaired loans. For purchased non-impaired loans to be included as non-PCI, it must be determined that the loans that do not have a discount, due at least in part, to credit quality at the time of acquisition. Conversely, loans for which it is probable at acquisition that all required payments will not be collected in accordance with contractual terms are considered PCI loans. PCI loans are evaluated at acquisition and where a discount is required at least in part due to credit quality, the nonrevolving loans are accounted for under the guidance in ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality. PCI loans and leases are recorded at fair value at the date of acquisition. No allowance for loan and lease losses is recorded on the acquisition date as the fair value of the acquired assets incorporates assumptions regarding credit risk. An allowance is recorded if there is additional credit deterioration after the acquisition date.

BancShares reports PCI and non-PCI loan portfolios separately, and each portfolio is further divided into commercial and non-commercial based on the type of borrower, purpose, collateral, and/or our underlying credit management processes. Additionally, loans are assigned to loan classes, which further disaggregate loans based upon common risk characteristics.

Commercial –Commercial loans include construction and land development, mortgage, other commercial real estate, commercial and industrial, lease financing and other.

Construction and land development – Construction and land development consists of loans to finance land for development, investment, and use in a commercial business enterprise; multifamily apartments; and other commercial buildings that may be owner-occupied or income generating investments for the owner.

Commercial mortgage – Commercial mortgage consists of loans to purchase or refinance owner-occupied nonresidential and investment properties. Investment properties include office buildings and other facilities that are rented or leased to unrelated parties.

Other commercial real estate – Other commercial real estate consists of loans secured by farmland (including residential farms and other improvements) and multifamily (5 or more) residential properties.

Commercial and industrial – Commercial and industrial consists of loans or lines of credit to finance corporate credit cards, accounts receivable, inventory and other general business purposes.

Lease financing – Lease financing consists solely of lease financing agreements for business equipment, vehicles and other assets.

Other – Other consists of all other commercial loans not classified in one of the preceding classes. These typically include loans to non-profit organizations such as churches, hospitals, educational and charitable organizations.

Noncommercial – Noncommercial consist of residential and revolving mortgage, construction and land development, and consumer loans.

Residential mortgage – Residential real estate consists of loans to purchase, construct or refinance the borrower's primary dwelling, second residence or vacation home.

Revolving mortgage – Revolving mortgage consists of home equity lines of credit that are secured by first or second liens on the borrower's primary residence.

Construction and land development – Construction and land development consists of loans to construct the borrower's primary or secondary residence or vacant land upon which the owner intends to construct a dwelling at a future date.

Consumer – Consumer loans consist of installment loans to finance purchases of vehicles, unsecured home improvements and revolving lines of credit that can be secured or unsecured, including personal credit cards.

Loans and leases outstanding included the following at June 30, 2015 and December 31, 2014:

(Dollars in thousands)	June 30, 2015		December 31, 2014
Non-PCI loans and leases:
Commercial:
Construction and land development	$	547,151	$	493,133
Commercial mortgage	7,861,590		7,552,948
Other commercial real estate	288,214		244,875
Commercial and industrial	2,199,591		1,988,934
Lease financing	643,508		571,916
Other	338,389		353,833
Total commercial loans	11,878,443		11,205,639
Noncommercial:
Residential mortgage	2,597,064		2,493,058
Revolving mortgage	2,529,936		2,561,800
Construction and land development	227,280		205,016
Consumer	1,164,223		1,117,454
Total noncommercial loans	6,518,503		6,377,328
Total non-PCI loans and leases	18,396,946		17,582,967
PCI loans:
Commercial:
Construction and land development	48,208		78,079
Commercial mortgage	611,505		577,518
Other commercial real estate	14,353		40,193
Commercial and industrial	20,382		27,254
Other	2,597		3,079
Total commercial loans	697,045		726,123
Noncommercial:
Residential mortgage	358,307		382,340
Revolving mortgage	64,340		74,109
Construction and land development	345		912
Consumer	3,202		3,014
Total noncommercial loans	426,194		460,375
Total PCI loans	1,123,239		1,186,498
Total loans and leases	$	19,520,185	$	18,769,465

At June 30, 2015, $319.7 million of total loans and leases were covered under loss share agreements, compared to $485.3 million at December 31, 2014. At the beginning of the second quarter of 2015, loss share protection expired for non-single family residential loans acquired from Sun American Bank ("SAB") and all loans acquired from First Regional Bank ("FRB"). Loan balances at June 30, 2015 for the expiring agreements from SAB and FRB were $30.9 million and $9.0 million, respectively. Loss share protection for Williamsburg First National Bank non-single family residential loans with a balance of $8.2 million at June 30, 2015 will expire at the beginning of the fourth quarter of 2015.

At June 30, 2015, $3.31 billion in noncovered loans with a lendable collateral value of $2.38 billion were used to secure $290.3 million in Federal Home Loan Bank ("FHLB") of Atlanta advances, resulting in additional borrowing capacity of $2.09 billion. At December 31, 2014, $3.16 billion in noncovered loans with a lendable collateral value of $2.20 billion were used to secure $240.3 million in FHLB of Atlanta advances, resulting additional borrowing capacity of $1.96 billion.

The unamortized discount related to the non-PCI loans and leases acquired in the Bancorporation merger totaled $49.3 million and $61.2 million at June 30, 2015 and December 31, 2014, respectively.

Credit quality indicators

Loans and leases are monitored for credit quality on a recurring basis. The credit quality indicators used are dependent on the portfolio segment to which the loan relates. Commercial and noncommercial loans and leases have different credit quality indicators as a result of the unique characteristics of the loan segment being evaluated. The credit quality indicators for non-PCI and PCI commercial loans and leases are developed through a review of individual borrowers on an ongoing basis. Each commercial loan is evaluated annually with more frequent evaluation of more severely criticized loans or leases. The credit quality indicators for non-PCI and PCI noncommercial loans are based on the delinquency status of the borrower. As the borrower becomes more delinquent, the likelihood of loss increases. The indicators represent the rating for loans or leases as of the date presented based on the most recent assessment performed. These credit quality indicators are defined as follows:

Pass – A pass rated asset is not adversely classified because it does not display any of the characteristics for adverse classification.

Special mention – A special mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention assets are not adversely classified and do not warrant adverse classification.

Substandard – A substandard asset is inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Assets classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These assets are characterized by the distinct possibility of loss if the deficiencies are not corrected.

Doubtful – An asset classified as doubtful has all the weaknesses inherent in an asset classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable on the basis of currently existing facts, conditions and values.

Loss – Assets classified as loss are considered uncollectible and of such little value that it is inappropriate to be carried as an asset. This classification is not necessarily equivalent to no potential for recovery or salvage value, but rather that it is not appropriate to defer a full charge-off even though partial recovery may be effected in the future.

Ungraded – Ungraded loans represent loans that are not included in the individual credit grading process due to their relatively small balances or borrower type. The majority of ungraded loans at June 30, 2015 and December 31, 2014 relate to business credit cards. Business credit card loans are subject to automatic charge-off when they become 120 days past due in the same manner as unsecured consumer lines of credit. The remaining balance is comprised of a small amount of commercial mortgage and other commercial real estate loans.

Non-PCI loans and leases outstanding at June 30, 2015 and December 31, 2014 by credit quality indicator are provided below:

	June 30, 2015
(Dollars in thousands)	Non-PCI commercial loans and leases
Grade:	Construction  and land development		Commercial mortgage		Other commercial real estate		Commercial  and industrial		Lease financing		Other		Total non-PCI commercial loans and leases
Pass	$	532,286	$	7,613,114	$	285,339	$	2,050,360	$	635,084	$	334,601	$	11,450,784
Special mention	12,385		102,773		267		17,861		4,797		1,859		139,942
Substandard	2,331		141,061		1,043		16,471		3,294		1,929		166,129
Doubtful	—		1,553		—		2,333		325		—		4,211
Ungraded	149		3,089		1,565		112,566		8		—		117,377
Total	$	547,151	$	7,861,590	$	288,214	$	2,199,591	$	643,508	$	338,389	$	11,878,443
	December 31, 2014
	Non-PCI commercial loans and leases
	Construction  and land development		Commercial mortgage		Other commercial real estate		Commercial  and industrial		Lease financing		Other		Total non-PCI commercial loans and leases
Pass	$	474,374	$	7,284,714	$	242,053	$	1,859,415	$	564,319	$	349,111	$	10,773,986
Special mention	13,927		129,247		909		27,683		3,205		1,384		176,355
Substandard	4,720		134,677		1,765		8,878		3,955		3,338		157,333
Doubtful	—		2,366		—		164		365		—		2,895
Ungraded	112		1,944		148		92,794		72		—		95,070
Total	$	493,133	$	7,552,948	$	244,875	$	1,988,934	$	571,916	$	353,833	$	11,205,639

	June 30, 2015
	Non-PCI noncommercial loans and leases
(Dollars in thousands)	Residential mortgage		Revolving mortgage		Construction and land development		Consumer		Total non-PCI noncommercial loans and leases
Current	$	2,559,874	$	2,516,158	$	224,776	$	1,156,148	$	6,456,956
30-59 days past due	22,118		6,174		1,542		5,060		34,894
60-89 days past due	6,039		2,372		469		1,928		10,808
90 days or greater past due	9,033		5,232		493		1,087		15,845
Total	$	2,597,064	$	2,529,936	$	227,280	$	1,164,223	$	6,518,503
	December 31, 2014
	Non-PCI noncommercial loans and leases
	Residential mortgage		Revolving mortgage		Construction and land development		Consumer		Total non-PCI noncommercial loans and leases
Current	$	2,454,797	$	2,542,807	$	202,344	$	1,110,153	$	6,310,101
30-59 days past due	23,288		11,097		1,646		4,577		40,608
60-89 days past due	6,018		2,433		824		1,619		10,894
90 days or greater past due	8,955		5,463		202		1,105		15,725
Total	$	2,493,058	$	2,561,800	$	205,016	$	1,117,454	$	6,377,328

PCI loans and leases outstanding at June 30, 2015 and December 31, 2014 by credit quality indicator are provided below:

	June 30, 2015
(Dollars in thousands)	PCI commercial loans
Grade:	Construction and land development		Commercial mortgage		Other commercial real estate		Commercial and industrial		Other		Total PCI commercial loans
Pass	$	18,052	$	324,320	$	8,456	$	11,681	$	796	$	363,305
Special mention	2,506		100,609		13		1,934		—		105,062
Substandard	21,917		172,577		5,549		5,796		1,801		207,640
Doubtful	4,341		13,571		—		307		—		18,219
Ungraded	1,392		428		335		664		—		2,819
Total	$	48,208	$	611,505	$	14,353	$	20,382	$	2,597	$	697,045
	December 31, 2014
	PCI commercial loans
	Construction and land development		Commercial mortgage		Other commercial real estate		Commercial and industrial		Other		Total PCI commercial loans
Pass	$	13,514	$	300,187	$	11,033	$	16,637	$	801	$	342,172
Special mention	6,063		98,724		16,271		4,137		—		125,195
Substandard	53,739		171,920		12,889		6,312		2,278		247,138
Doubtful	2,809		6,302		—		130		—		9,241
Ungraded	1,954		385		—		38		—		2,377
Total	$	78,079	$	577,518	$	40,193	$	27,254	$	3,079	$	726,123

	June 30, 2015
	PCI noncommercial loans
(Dollars in thousands)	Residential mortgage		Revolving mortgage		Construction and land development		Consumer		Total PCI noncommercial loans
Current	$	311,880	$	57,529	$	314	$	2,902	$	372,625
30-59 days past due	11,435		4,434		31		112		16,012
60-89 days past due	3,882		147		—		45		4,074
90 days or greater past due	31,110		2,230		—		143		33,483
Total	$	358,307	$	64,340	$	345	$	3,202	$	426,194
	December 31, 2014
	PCI noncommercial loans
	Residential mortgage		Revolving mortgage		Construction and land development		Consumer		Total PCI noncommercial loans
Current	$	326,589	$	68,548	$	506	$	2,582	$	398,225
30-59 days past due	11,432		1,405		—		147		12,984
60-89 days past due	10,073		345		—		25		10,443
90 days or greater past due	34,246		3,811		406		260		38,723
Total	$	382,340	$	74,109	$	912	$	3,014	$	460,375

The aging of the outstanding non-PCI loans and leases, by class, at June 30, 2015 and December 31, 2014 is provided in the table below.

The calculation of days past due begins on the day after payment is due and includes all days through which all required interest or principal has not been paid. Loans and leases 30 days or less past due are considered current as various grace periods allow borrowers to make payments within a stated period after the due date and still remain in compliance with the loan agreement.

	June 30, 2015
(Dollars in thousands)	30-59 days past due		60-89 days past due		90 days or greater		Total past due		Current		Total loans and leases
Non-PCI loans and leases:
Construction and land development - commercial	$	1,632	$	612	$	921	$	3,165	$	543,986	$	547,151
Commercial mortgage	11,903		4,896		14,676		31,475		7,830,115		7,861,590
Other commercial real estate	49		—		188		237		287,977		288,214
Commercial and industrial	6,275		1,010		1,050		8,335		2,191,256		2,199,591
Lease financing	1,161		90		308		1,559		641,949		643,508
Residential mortgage	22,118		6,039		9,033		37,190		2,559,874		2,597,064
Revolving mortgage	6,174		2,372		5,232		13,778		2,516,158		2,529,936
Construction and land development - noncommercial	1,542		469		493		2,504		224,776		227,280
Consumer	5,060		1,928		1,087		8,075		1,156,148		1,164,223
Other	338		—		210		548		337,841		338,389
Total non-PCI loans and leases	$	56,252	$	17,416	$	33,198	$	106,866	$	18,290,080	$	18,396,946
	December 31, 2014
	30-59 days past due		60-89 days past due		90 days or greater		Total past due		Current		Total loans and leases
Non-PCI loans and leases:
Construction and land development - commercial	$	520	$	283	$	330	$	1,133	$	492,000	$	493,133
Commercial mortgage	11,367		4,782		8,061		24,210		7,528,738		7,552,948
Other commercial real estate	206		70		102		378		244,497		244,875
Commercial and industrial	2,843		1,545		378		4,766		1,984,168		1,988,934
Lease financing	1,631		8		2		1,641		570,275		571,916
Residential mortgage	23,288		6,018		8,955		38,261		2,454,797		2,493,058
Revolving mortgage	11,097		2,433		5,463		18,993		2,542,807		2,561,800
Construction and land development - noncommercial	1,646		824		202		2,672		202,344		205,016
Consumer	4,577		1,619		1,105		7,301		1,110,153		1,117,454
Other	146		1,966		—		2,112		351,721		353,833
Total non-PCI loans and leases	$	57,321	$	19,548	$	24,598	$	101,467	$	17,481,500	$	17,582,967

The recorded investment, by class, in loans and leases on nonaccrual status, and loans and leases greater than 90 days past due and still accruing at June 30, 2015 and December 31, 2014 for non-PCI loans, were as follows:

	June 30, 2015				December 31, 2014
(Dollars in thousands)	Nonaccrual loans and leases		Loans and leases > 90 days and accruing		Nonaccrual loans and leases		Loans and leases > 90 days and accruing
Non-PCI loans and leases:
Construction and land development - commercial	$	1,401	$	102	$	343	$	56
Commercial mortgage	34,140		2,863		24,720		1,003
Other commercial real estate	588		30		619		35
Commercial and industrial	4,158		555		1,741		239
Lease financing	353		37		374		2
Residential mortgage	20,044		671		14,242		3,191
Revolving mortgage	11,765		19		—		5,463
Construction and land development - noncommercial	1		—		—		202
Consumer	852		606		—		1,059
Other	133		77		1,966		—
Total non-PCI loans and leases	$	73,435	$	4,960	$	44,005	$	11,250

Purchased credit-impaired loans (PCI) loans

The following table relates to PCI loans acquired in the CCBT acquisition and summarizes the contractually required payments, which include principal and interest, expected cash flows to be collected, and the fair value of PCI loans and leases at the acquisition date.

(Dollars in thousands)
Contractually required payments	$	247,812
Cash flows expected to be collected	$	207,688
Fair value of loans at acquisition	$	154,496

The recorded fair values of PCI loans acquired in the CCBT acquisition as of the acquisition date were as follows:

(Dollars in thousands)
Commercial:
Construction and land development	$	4,116
Commercial mortgage	129,732
Other commercial real estate	3,202
Commercial and industrial	2,844
Total commercial loans	139,894
Noncommercial:
Residential mortgage	13,251
Consumer	1,351
Total noncommercial loans	14,602
Total PCI loans and leases	$	154,496

The following table provides changes in the carrying value of all purchased credit-impaired loans during the six months ended June 30, 2015 and June 30, 2014:

(Dollars in thousands)	2015			2014
Balance at January 1	$	1,186,498		$	1,029,426
Fair value of acquired loans	154,496			316,327
Accretion	59,182			60,660
Payments received and other changes, net	(276,937		)	(296,480		)
Balance at June 30	$	1,123,239		$	1,109,933
Unpaid principal balance at June 30	$	2,025,905		$	1,888,475

The carrying value of loans on the cost recovery method was $12.2 million at June 30, 2015 and $33.4 million at December 31, 2014. The cost recovery method is applied to loans when the timing of future cash flows is not reasonably estimable due to borrower nonperformance or uncertainty in the ultimate disposition of the asset. The recorded investment of PCI loans on nonaccrual status was $8.7 million and $33.4 million at June 30, 2015 and December 31, 2014, respectively.

For PCI loans, improved cash flow estimates and receipt of unscheduled loan payments result in the reclassification of nonaccretable difference to accretable yield. Accretable yield resulting from the improved ability to estimate future cash flows generally does not represent amounts previously identified as nonaccretable difference.

The following table documents changes to the amount of accretable yield for the first six months of 2015 and 2014.

(Dollars in thousands)	2015			2014
Balance at January 1	$	418,160		$	439,990
Additions from acquisitions	53,192			84,295
Accretion	(59,182		)	(60,660		)
Reclassifications from nonaccretable difference	12,322			9,992
Changes in expected cash flows that do not affect nonaccretable difference	(45,391		)	(17,126		)
Balance at June 30	$	379,101		$	456,491

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Investments

6 Months Ended

Jun. 30, 2015

Investments [Abstract]

Investments

INVESTMENTS

The amortized cost and fair value of investment securities classified as available for sale and held to maturity at June 30, 2015 and December 31, 2014, are as follows:

	June 30, 2015
(Dollars in thousands)	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Investment securities available for sale
U.S. Treasury	$	2,198,027	$	8,832	$	—	$	2,206,859
Government agency	774,962		1,667		385		776,244
Mortgage-backed securities	4,372,946		11,664		17,519		4,367,091
Total investment securities available for sale	$	7,345,935	$	22,163	$	17,904	$	7,350,194
	December 31, 2014
	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
U.S. Treasury	$	2,626,900	$	2,922	$	152	$	2,629,670
Government agency	908,362		702		247		908,817
Mortgage-backed securities	3,628,187		16,964		11,847		3,633,304
Municipal securities	125		1		—		126
Total investment securities available for sale	$	7,163,574	$	20,589	$	12,246	$	7,171,917
	June 30, 2015
	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Investment securities held to maturity
Mortgage-backed securities	$	351	$	14	$	—	$	365
	December 31, 2014
	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Mortgage-backed securities	$	518	$	26	$	—	$	544

Investments in mortgage-backed securities primarily represent securities issued by the Government National Mortgage Association, Federal National Mortgage Association and Federal Home Loan Mortgage Corporation.The following table provides the amortized cost and fair value by contractual maturity. Expected maturities will differ from contractual maturities on certain securities because borrowers and issuers may have the right to call or prepay obligations with or without prepayment penalties. Repayments of mortgage-backed securities are dependent on the repayments of the underlying loan balances.

	June 30, 2015				December 31, 2014
(Dollars in thousands)	Cost		Fair value		Cost		Fair value
Investment securities available for sale
Non-amortizing securities maturing in:
One year or less	$	412,357	$	412,720	$	447,866	$	447,992
One through five years	2,560,632		2,570,383		3,087,521		3,090,621
Mortgage-backed securities	4,372,946		4,367,091		3,628,187		3,633,304
Total investment securities available for sale	$	7,345,935	$	7,350,194	$	7,163,574	$	7,171,917
Investment securities held to maturity
Mortgage-backed securities held to maturity	$	351	$	365	$	518	$	544

For each period presented, securities gains (losses) included the following:

	Three months ended June 30					Six months ended June 30
(Dollars in thousands)	2015			2014		2015			2014
Gross gains on sales of investment securities available for sale	$	151		$	—	$	5,286		$	—
Gross losses on sales of investment securities available for sale	(4		)	—		(13		)	—
Total net securities gain	$	147		$	—	$	5,273		$	—

The following table provides information regarding securities with unrealized losses as of June 30, 2015 and December 31, 2014.

	June 30, 2015
	Less than 12 months				12 months or more				Total
(Dollars in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Investment securities available for sale:
Government agency	90,567		385		—		—		90,567		385
Mortgage-backed securities	1,872,344		12,736		296,170		4,783		2,168,514		17,519
Total	$	1,962,911	$	13,121	$	296,170	$	4,783	$	2,259,081	$	17,904
	December 31, 2014
	Less than 12 months				12 months or more				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Investment securities available for sale:
U.S. Treasury	$	338,612	$	151	$	1,015	$	1	$	339,627	$	152
Government agency	261,288		247		—		—		261,288		247
Mortgage-backed securities	573,374		1,805		831,405		10,042		1,404,779		11,847
Total	$	1,173,274	$	2,203	$	832,420	$	10,043	$	2,005,694	$	12,246

Investment securities with an aggregate fair value of $296.2 million and $832.4 million had continuous unrealized losses for more than 12 months as of June 30, 2015 and December 31, 2014, respectively, with an aggregate unrealized loss of $4.8 million and $10.0 million, respectively. As of June 30, 2015, all 38 of these investments are government sponsored enterprise-issued mortgage-backed securities. None of the unrealized losses identified as of June 30, 2015 or December 31, 2014 relate to the marketability of the securities or the issuer’s ability to honor redemption obligations. Rather, the unrealized losses relate to changes in interest rates relative to when the investment securities were purchased. For all periods presented, BancShares had the ability and intent to retain these securities for a period of time sufficient to recover all unrealized losses. Therefore, none of the securities were deemed to be other than temporarily impaired.

Investment securities having an aggregate carrying value of $4.69 billion at June 30, 2015 and $4.37 billion at December 31, 2014 were pledged as collateral to secure public funds on deposit and certain short-term borrowings, and for other purposes as required by law.

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Accounting Policies and Basis of Presentation Policies (Policies)

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Reclassification, Policy [Policy Text Block]

Reclassifications

Prior period financial statements reflect the retrospective application of Accounting Standards Update (ASU) 2014-01, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments Qualified Affordable Housing Projects which was adopted effective in the fourth quarter of 2014 and did not have a material impact on our consolidated financial condition or results of operations. In certain instances other than the retrospective adoption of ASU 2014-01, amounts reported in prior years' consolidated financial statements have been reclassified to conform to the current financial statement presentation. Such reclassifications had no effect on previously reported shareholders' equity or net income.

Fair values recorded as a result of acquisitions are subject to refinement for up to one year after the closing date of the transaction as additional information regarding closing date fair values becomes available. We have increased previously reported amounts of gain on acquisition, net income and retained earnings for the six months ended June 30, 2015 by $3.3 million, net of tax, as a result of adjustments made to the fair value of assets acquired in the FDIC-assisted acquisition of Capitol City Bank & Trust (CCBT) of Atlanta, Georgia in the first quarter of 2015.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates, and different assumptions in the application of these policies could result in material changes in BancShares' consolidated financial position, the consolidated results of its operations or related disclosures. Material estimates that are particularly susceptible to significant change include:

• Allowance for loan and lease losses

• Fair value of financial instruments, including acquired assets and assumed liabilities

• Pension plan assumptions

• Cash flow estimates on purchased credit-impaired loans

• Receivable from and payable to the FDIC for loss share agreements

• Income tax assets, liabilities and expense

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Adopted Accounting Pronouncements

Financial Accounting Standards Board (FASB) ASU 2015-10 Technical Corrections and Improvements

The amendments in this ASU represent changes to clarify the Codification, correct unintended application of guidance and make minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Additionally, some of the amendments will make the Codification easier to understand and easier to apply by eliminating inconsistencies, providing needed clarifications, and improving the presentation of guidance in the Codification.

The transition guidance varies based on the amendments in this ASU. The amendments in this ASU that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. All other amendments will be effective upon the issuance. We adopted the amendments effective second quarter of 2015. The adoption did not have an impact on our consolidated financial position or consolidated results of operations.

FASB ASU 2015-08 Business Combinations (Topic 805): Pushdown Accounting - Amendments to Securities and Exchange Commission (SEC) Paragraphs Pursuant to Staff Accounting Bulletin No. 115

The amendments in this ASU remove references to SEC Staff Accounting Bulletin (SAB) Topic 5.J as the SEC staff previously rescinded its guidance with the issuance of SAB No. 115 when the FASB issued its own pushdown accounting guidance in ASU 2014-17, an amendment we adopted effective fourth quarter of 2014. We adopted the amendments in ASU 2015-08 effective second quarter of 2015. The adoption did not have an impact on our consolidated financial position or consolidated results of operations.

FASB ASU 2014-14, Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure

This ASU requires a reporting entity to derecognize a mortgage loan and recognize a separate other receivable upon foreclosure if the following conditions are met: the loan has a government guarantee that is not separable from the loan before foreclosure; at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim and at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance expected to be recovered from the guarantor.

The amendments in this ASU were effective for public entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. We adopted this guidance effective first quarter of 2015. The initial adoption did not have any effect on our consolidated financial position or consolidated results of operations.

FASB ASU 2014-11, Transfers and Servicing (Topic 860)

This ASU aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as a repurchase financing with the accounting for other typical repurchase agreements. Going forward, these transactions would all be accounted for as secured borrowings. The guidance eliminates sale accounting for repurchase-to-maturity transactions and supersedes the guidance under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement, which has resulted in outcomes referred to as off-balance-sheet accounting. The ASU requires a new disclosure for transactions economically similar to repurchase agreements in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction. The ASU also requires expanded disclosures about the nature of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings.

The accounting changes in this ASU were effective for fiscal years beginning after December 15, 2014. In addition, the disclosure for certain transactions accounted for as a sale was effective for the fiscal period beginning after December 15, 2014, the disclosures for transactions accounted for as secured borrowings were required to be presented for fiscal periods beginning after December 15, 2014, and interim periods beginning after March 15, 2015. We adopted the guidance effective first quarter of 2015. The initial adoption did not have any effect on our consolidated financial position or consolidated results of operations. The new disclosures required by this ASU are included in Note I.

FASB ASU 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40)

This ASU clarifies that an in-substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction.

The amendments in this ASU were effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. We adopted the guidance effective first quarter of 2015. The initial adoption did not have any effect on our consolidated financial position or consolidated results of operations. The new disclosures required by this ASU are included in Note F.

FASB ASU 2014-01, Investments - Equity Method and Joint Ventures (Topic 323) - Accounting for Investments in Qualified Affordable Housing Projects

This ASU permits an accounting policy election to account for investments in qualified affordable housing projects (LIHTC) using the proportional amortization method if certain conditions are met. Under the proportional amortization method, the initial cost of the investment is amortized in proportion to the tax credits and other tax benefits received and recognize the net investment performance in the income statement as a component of income tax expense (benefit).

For those investments in qualified affordable housing projects not accounted for using the proportional amortization method, the investment should be accounted for as an equity method investment or a cost method investment in accordance with ASC 970-323.

The decision to apply the proportional amortization method of accounting will be applied consistently to all qualifying affordable housing project investments rather than a decision to be applied to individual investments.

BancShares early adopted the guidance effective in the fourth quarter of 2014. Previously, LIHTC investments were accounted for under the cost or equity method, and the amortization was recorded as a reduction to other noninterest income, with the tax credits and other benefits received recorded as a component of the provision for income taxes. BancShares believes the proportional amortization method better represents the economics of LIHTC investments and provides users with a better understanding of the returns from such investments than the cost or equity method. LIHTC investments were $76.4 million and $57.1 million at June 30, 2015 and December 31, 2014, respectively, included in "other assets" on the Consolidated Balance Sheets.

The cumulative effect of the retrospective application of the change in amortization method was a $2.4 million decrease to both "other assets" and "retained earnings" on the Consolidated Balance Sheets as of January 1, 2012. Under the new amortization method of accounting, amortization expense is recognized in income tax expense in the Consolidated Statements of Income and is offset by the tax effect of tax losses and tax credits received from the investments. This change resulted in a reclassification of expense previously recorded as a reduction in other noninterest income to income tax expense along with additional amortization recognized under the new method of accounting in the Consolidated Statements of Income. An additional change resulting from the new amortization method of accounting was that a deferred tax asset or liability no longer exists as a result of these investments, thus in the retrospective application of the new method, the removal of the deferred tax asset previously reported as well as the additional amortization of the investments, both recorded in other assets, reflected in the Consolidated Balance Sheets were removed. We do not believe the impact of this change in accounting principle is material.

Recently Issued Accounting Pronouncements

FASB ASU 2015-03, Interest–Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs

This ASU simplifies the presentation of debt issuance costs by requiring that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of debt liability, consistent with debt discounts or premiums. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update.

This ASU is effective for interim and annual periods beginning after December 15, 2015 for public companies, and is to be applied retrospectively. Early adoption is permitted. We will adopt the guidance effective in the first quarter of 2016 and do not anticipate any impact on our consolidated financial position or consolidated results of operations as a result of adoption.

FASB ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis

This ASU improves targeted areas of consolidation guidance for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. In addition to reducing the number of consolidation models from four to two, the new standard places more emphasis on risk of loss when determining a controlling financial interest, reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a variable interest entity ("VIE"), and changing consolidation conclusions for public and private companies in several industries that typically make use of limited partnerships or VIEs.

The amendments in this ASU are effective for periods beginning after December 15, 2015 for public companies. Early adoption is permitted. We will adopt the guidance effective in the first quarter of 2016 and do not anticipate any significant impact on our consolidated financial position or consolidated results of operations as a result of adoption.

FASB ASU 2014-09, Revenue from Contracts with Customers (Topic 606)

In May 2014, the FASB issued a standard on the recognition of revenue from contracts with customers with the core principle being for companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard also results in enhanced disclosures about revenue, provides guidance for transactions that were not previously addressed comprehensively and improves guidance for multiple-element arrangements.

The ASU was deferred and is effective for fiscal periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted for fiscal periods beginning after December 15, 2016. We are currently evaluating the impact of the new standard and we will adopt during the first quarter of 2018 using one of two retrospective application methods.

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Employee Benefit Plans

6 Months Ended

Jun. 30, 2015

General Discussion of Pension and Other Postretirement Benefits [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

BancShares sponsors noncontributory defined benefit pension plans for its qualifying employees (BancShares Plan) and legacy Bancorporation employees (Bancorporation Plan). Net periodic benefit cost is a component of employee benefits expense.

BancShares Plan

For the three and six months ended June 30, 2015 and 2014, the components of net periodic benefit cost are as follows:

	Three months ended June 30						Six months ended June 30
(Dollars in thousands)	2015			2014			2015			2014
Service cost	$	3,603		$	2,785		$	7,203		$	6,166
Interest cost	6,750			6,251			13,498			12,807
Expected return on assets	(8,299		)	(8,340		)	(16,594		)	(16,152		)
Amortization of prior service cost	52			52			105			105
Amortization of net actuarial loss	2,835			1,546			5,668			3,092
Net periodic benefit cost	$	4,941		$	2,294		$	9,880		$	6,018

Bancorporation Plan

For the three and six months ended June 30, 2015, the components of net periodic benefit cost are as follows:

	Three months ended June 30			Six months ended June 30
(Dollars in thousands)	2015			2015
Service cost	$	932		$	1,865
Interest cost	1,627			3,255
Expected return on assets	(2,870		)	(5,739		)
Amortization of prior service cost	—			—
Amortization of net actuarial loss	—			—
Net periodic benefit cost	$	(311	)	$	(619	)

No contributions were made during the three and six months ended June 30, 2015 to the BancShares or Bancorporation pension plans. BancShares does not expect to make any contributions to either of the defined benefit pension plans during 2015.

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Receivable from FDIC for Loss Share Agreements

6 Months Ended

Jun. 30, 2015

Receivable From FDIC For Loss Share Agreements [Abstract]

Receivable from FDIC for Loss Share Agreements

FDIC LOSS SHARE RECEIVABLE

The following table provides changes in the receivable from the FDIC for the three and six months ended June 30, 2015 and June 30, 2014.

	Three months ended June 30						Six months ended June 30
(Dollars in thousands)	2015			2014			2015			2014
Beginning balance	$	21,340		$	74,784		$	28,701		$	93,397
Amortization	(1,461		)	(12,922		)	(6,492		)	(30,667		)
Net cash payments to FDIC	5,128			859			10,890			4,350
Post-acquisition adjustments	(19,199		)	(12,762		)	(27,291		)	(17,121		)
Ending balance	$	5,808		$	49,959		$	5,808		$	49,959

The receivable from the FDIC for loss share agreements is measured separately from the related covered assets and is recorded at fair value at the acquisition date using projected cash flows based on the expected reimbursements for losses and the applicable loss share percentages. See Note Lfor information related to FCB's recorded payable to the FDIC for loss share agreements.

Amortization reflects changes in the FDIC loss share receivable due to improvements in expected cash flows that are being recognized over the remaining term of the loss share agreement. Cash payments to FDIC represent the net impact of loss share loan recoveries, charge-offs and related expenses as calculated and reported in FDIC loss share certificates. Post-acquisition adjustments represent the net change in loss estimates related to acquired loans and covered OREO as a result of changes in expected cash flows and the ALLL related to those covered loans. For loans covered by loss share agreements, subsequent decreases in the amount expected to be collected from the borrower or collateral liquidation result in a provision for loan and lease losses, an increase in the ALLL and a proportional adjustment to the receivable from the FDIC for the estimated amount to be reimbursed. Subsequent increases in the amount expected to be collected from the borrower or collateral liquidation result in the reversal of some or all previously recorded provision for loan and lease losses, a decrease in the related ALLL and a proportional adjustment to the receivable from the FDIC, or prospective adjustment to the accretable yield and the related receivable from the FDIC if no provision for loan and lease losses had been recorded previously. The loss share agreements for FRB and non-single family residential loans acquired from SAB expired at the beginning of the second quarter of 2015. The loss share agreement for non-single family residential loans for Williamsburg First National Bank will expire at the beginning of the fourth quarter of 2015.

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Mortgage Servicing Rights (Valuation allowance) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Valuation Allowance for Impairment of Recognized Servicing Assets [Line Items]
Valuation allowance	$ 3	$ 0	$ 3	$ 0	$ 912	$ 850	$ 0	$ 0
Valuation allowance provision	$ (909)	$ 0	$ (847)	$ 0

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Allowance for Loan and Lease Losses

6 Months Ended

Jun. 30, 2015

Loans and Leases Receivable, Allowance [Abstract]

Allowance

NOTE E - ALLOWANCE FOR LOAN AND LEASE LOSSES ("ALLL")

The following tables present the activity in the ALLL for non-PCI loan and lease losses by loan class for the three months ended June 30, 2015 and June 30, 2014:

	Three months ended June 30, 2015
(Dollars in thousands)	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Lease financing			Other			Residential mortgage			Revolving mortgage			Construction and land development - non- commercial			Consumer			Total
Non-PCI Loans
Allowance for loan and lease losses:
Balance at April 1	$	13,108		$	82,038		$	1,031		$	36,954		$	4,293		$	2,981		$	11,328		$	17,529		$	1,056		$	17,616		$	187,934
Provision	88			(1,878		)	(227		)	4,547			408			(1,824		)	1,162			31			74			6,613			8,994
Charge-offs	(221		)	(47		)	(9		)	(2,318		)	(6		)	—			(90		)	(616		)	—			(2,743		)	(6,050		)
Recoveries	104			323			9			209			11			31			305			346			3			630			1,971
Balance at June 30	$	13,079		$	80,436		$	804		$	39,392		$	4,706		$	1,188		$	12,705		$	17,290		$	1,133		$	22,116		$	192,849
	Three months ended June 30, 2014
	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Lease financing			Other			Residential mortgage			Revolving mortgage			Construction and land development - non- commercial			Consumer			Total
Balance at April 1	$	12,246		$	94,217		$	945		$	24,021		$	4,183		$	454		$	10,944		$	16,408		$	1,249		$	13,282		$	177,949
Provision	(1,135		)	(1,961		)	(155		)	3,033			176			163			(1,557		)	1,252			(323		)	2,737			2,230
Charge-offs	—			(272		)	—			(531		)	(14		)	(5		)	(234		)	(1,064		)	(23		)	(2,628		)	(4,771		)
Recoveries	5			145			16			386			20			—			148			201			2			584			1,507
Balance at June 30	$	11,116		$	92,129		$	806		$	26,909		$	4,365		$	612		$	9,301		$	16,797		$	905		$	13,975		$	176,915
	Six months ended June 30, 2015
	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and  industrial			Lease financing			Other			Residential mortgage			Revolving mortgage			Construction and land development - non- commercial			Consumer			Total
Balance at January 1	$	11,961		$	85,189		$	732		$	30,727		$	4,286		$	3,184		$	10,661		$	18,650		$	892		$	16,555		$	182,837
Provision	1,191			(5,557		)	231			12,093			419			(2,042		)	1,975			(431		)	192			9,579			17,650
Charge-offs	(239		)	(280		)	(178		)	(4,031		)	(21		)	—			(374		)	(1,409		)	(22		)	(5,526		)	(12,080		)
Recoveries	166			1,084			19			603			22			46			443			480			71			1,508			4,442
Balance at June 30	$	13,079		$	80,436		$	804		$	39,392		$	4,706		$	1,188		$	12,705		$	17,290		$	1,133		$	22,116		$	192,849
	Six months ended June 30, 2014
	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and  industrial			Lease financing			Other			Residential mortgage			Revolving mortgage			Construction and land development - non- commercial			Consumer			Total
Balance at January 1	$	10,335		$	100,257		$	1,009		$	22,362		$	4,749		$	190		$	10,511		$	16,239		$	681		$	13,541		$	179,874
Provision	750			(8,940		)	(229		)	5,009			(348		)	435			(948		)	2,605			254			4,012			2,600
Charge-offs	—			(440		)	—			(1,027		)	(72		)	(13		)	(418		)	(2,324		)	(94		)	(4,805		)	(9,193		)
Recoveries	31			1,252			26			565			36			—			156			277			64			1,227			3,634
Balance at June 30	$	11,116		$	92,129		$	806		$	26,909		$	4,365		$	612		$	9,301		$	16,797		$	905		$	13,975		$	176,915

The provision expense for commercial and industrial loans totaled $4.5 million and $12.1 million for the three and six months ended June 30, 2015, respectively, compared to $3.0 million and $5.0 million for the same respective periods of 2014. Loan growth during 2015 was higher than the prior year causing the increases in provision expense.

The other loan class had a net provision credit of $1.8 million and $2.0 million for the three and six months ended June 30, 2015, respectively, compared to provision expense of $163 thousand and $435 thousand for the same respective periods of 2014. The current net provision credits were the result of the reversal of previously identified impairment on individually impaired loans due to credit quality improvement.

The provision for the residential mortgage loan class totaled $1.2 million and $2.0 million for the three and six months ended June 30, 2015, respectively, compared to net provision credits of $1.6 million and $948 thousand for the same respective periods of 2014. The increases in the provision expense were attributable to newly originated non-PCI loans and stable credit quality in the current periods. In 2014, improved credit quality trends resulted in a release of reserves for the three and six months ended June 30, 2014.

Revolving mortgage loans had net provision expense of $31 thousand and a net provision credit of $431 thousand for the three and six months ended June 30, 2015, respectively, compared to net provision expense of $1.3 million and $2.6 million for the three and six months ended June 30, 2014, respectively. The decline in provision expense for both periods was due to lower net charge-offs and improved credit quality trends within the loan class.

The provision for consumer loans totaled $6.6 million and $9.6 million for the three and six months ended June 30, 2015, respectively. Provision expense for the three and six month periods ended June 30, 2014 totaled $2.7 million and $4.0 million, respectively. The increase in provision expense was primarily due to higher loan growth in newly originated non-PCI loans in 2015.

The following tables present the allowance for non-PCI loan losses and the recorded investment in loans, by loan class, based on impairment method as of June 30, 2015 and December 31, 2014:

	June 30, 2015
(Dollars in thousands)	Construction and land development - commercial		Commercial mortgage		Other commercial real estate		Commercial and industrial		Lease financing		Other		Residential mortgage		Revolving mortgage		Construction and land development - non-commercial		Consumer		Total
Allowance for loan and lease losses:
ALLL for loans and leases individually evaluated for impairment	$	445	$	7,744	$	101	$	1,771	$	146	$	17	$	1,623	$	168	$	—	$	577	$	12,592
ALLL for loans and leases collectively evaluated for impairment	12,634		72,692		703		37,621		4,560		1,171		11,082		17,122		1,133		21,539		180,257
Total allowance for loan and lease losses	$	13,079	$	80,436	$	804	$	39,392	$	4,706	$	1,188	$	12,705	$	17,290	$	1,133	$	22,116	$	192,849
Loans and leases:
Loans and leases individually evaluated for impairment	$	3,092	$	83,555	$	401	$	12,416	$	1,448	$	1,732	$	16,424	$	3,961	$	860	$	1,117	$	125,006
Loans and leases collectively evaluated for impairment	544,059		7,778,035		287,813		2,187,175		642,060		336,657		2,580,640		2,525,975		226,420		1,163,106		18,271,940
Total loan and leases	$	547,151	$	7,861,590	$	288,214	$	2,199,591	$	643,508	$	338,389	$	2,597,064	$	2,529,936	$	227,280	$	1,164,223	$	18,396,946
	December 31, 2014
(Dollars in thousands)	Construction and land development - commercial		Commercial mortgage		Other commercial real estate		Commercial and industrial		Lease financing		Other		Residential mortgage		Revolving mortgage		Construction and land development - non-commercial		Consumer		Total
Allowance for loan and lease losses:
ALLL for loans and leases individually evaluated for impairment	$	92	$	8,610	$	112	$	1,743	$	150	$	1,972	$	1,360	$	1,052	$	71	$	555	$	15,717
ALLL for loans and leases collectively evaluated for impairment	11,869		76,579		620		28,984		4,136		1,212		9,301		17,598		821		16,000		167,120
Total allowance for loan and lease losses	$	11,961	$	85,189	$	732	$	30,727	$	4,286	$	3,184	$	10,661	$	18,650	$	892	$	16,555	$	182,837
Loans and leases:
Loans and leases individually evaluated for impairment	$	1,620	$	82,803	$	584	$	11,040	$	623	$	2,000	$	14,913	$	3,675	$	1,340	$	995	$	119,593
Loans and leases collectively evaluated for impairment	491,513		7,470,145		244,291		1,977,894		571,293		351,833		2,478,145		2,558,125		203,676		1,116,459		17,463,374
Total loan and leases	$	493,133	$	7,552,948	$	244,875	$	1,988,934	$	571,916	$	353,833	$	2,493,058	$	2,561,800	$	205,016	$	1,117,454	$	17,582,967

The following tables show the activity in the allowance for PCI loan and lease losses by loan class for the three months and six months ended June 30, 2015 and June 30, 2014.

	Three months ended June 30, 2015
(Dollars in thousands)	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Residential mortgage			Revolving mortgage			Construction and land development - noncommercial			Consumer and other			Total
PCI Loans
Allowance for loan and lease losses:
Balance at April 1	$	341		$	8,876		$	194		$	11		$	4,872		$	3,271		$	31		$	23		$	17,619
Provision	325			(2,065		)	(125		)	399			1,165			(1,112		)	(31		)	169			(1,275		)
Charge-offs	(97		)	(383		)	—			(87		)	(195		)	(108		)	—			(6		)	(876		)
Recoveries	—			—			—			—			—			—			—			—			—
Balance at June 30	$	569		$	6,428		$	69		$	323		$	5,842		$	2,051		$	—		$	186		$	15,468
	Three months ended June 30, 2014
(Dollars in thousands)	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Residential mortgage			Revolving mortgage			Construction and land development - noncommercial			Consumer and other			Total
Balance at April 1	$	4,476		$	23,003		$	1,204		$	2,256		$	9,764		$	3,493		$	583		$	214		$	44,993
Provision	(77		)	(1,185		)	(797		)	(1,729		)	(2,176		)	(3,031		)	(583		)	49			(9,529		)
Charge-offs	(596		)	(4,503		)	—			(152		)	(495		)	(381		)	—			(6		)	(6,133		)
Recoveries	—			—			—			—			—			—			—			—			—
Balance at June 30	$	3,803		$	17,315		$	407		$	375		$	7,093		$	81		$	—		$	257		$	29,331
	Six months ended June 30, 2015
(Dollars in thousands)	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Residential mortgage			Revolving mortgage			Construction and land development - noncommercial			Consumer and other			Total
Balance at January 1	$	150		$	10,135		$	75		$	1,240		$	5,820		$	3,999		$	183		$	27		$	21,629
Provision	516			(2,990		)	(6		)	(632		)	302			(1,767		)	(183		)	621			(4,139		)
Charge-offs	(97		)	(717		)	—			(285		)	(280		)	(181		)	—			(462		)	(2,022		)
Recoveries	—			—			—			—			—			—			—			—			—
Balance at June 30	$	569		$	6,428		$	69		$	323		$	5,842		$	2,051		$	—		$	186		$	15,468
	Six months ended June 30, 2014
(Dollars in thousands)	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Residential mortgage			Revolving mortgage			Construction and land development - noncommercial			Consumer and other			Total
Balance at January 1	$	1,320		$	29,906		$	1,354		$	5,275		$	11,802		$	2,959		$	682		$	222		$	53,520
Provision	3,278			(4,571		)	(947		)	(2,065		)	(4,476		)	(2,397		)	(682		)	58			(11,802		)
Charge-offs	(795		)	(8,020		)	—			(2,835		)	(233		)	(481		)	—			(23		)	(12,387		)
Recoveries	—			—			—			—			—			—			—			—			—
Balance at June 30	$	3,803		$	17,315		$	407		$	375		$	7,093		$	81		$	—		$	257		$	29,331

The following tables show the ending balances of PCI loans and leases and related allowance by class of loans as of June 30, 2015 and December 31, 2014:

	June 30, 2015
(Dollars in thousands)	Construction and land development - commercial		Commercial mortgage		Other commercial real estate		Commercial and industrial		Residential mortgage		Revolving mortgage		Construction and land development - noncommercial		Consumer and other		Total
ALLL for loans and leases acquired with deteriorated credit quality	$	569	$	6,428	$	69	$	323	$	5,842	$	2,051	$	—	$	186	$	15,468
Loans and leases acquired with deteriorated credit quality	48,208		611,505		14,353		20,382		358,307		64,340		345		5,799		1,123,239
	December 31, 2014
(Dollars in thousands)	Construction and land development - commercial		Commercial mortgage		Other commercial real estate		Commercial and industrial		Residential mortgage		Revolving mortgage		Construction and land development - noncommercial		Consumer and other		Total
ALLL for loans and leases acquired with deteriorated credit quality	$	150	$	10,135	$	75	$	1,240	$	5,820	$	3,999	$	183	$	27	$	21,629
Loans and leases acquired with deteriorated credit quality	78,079		577,518		40,193		27,254		382,340		74,109		912		6,093		1,186,498

As of June 30, 2015, and December 31, 2014, $570.6 million and $285.6 million, respectively, in PCI loans experienced an adverse change in expected cash flows since the date of acquisition. The corresponding valuation reserve was $15.5 million and $21.6 million, respectively.

The following tables provide information on non-PCI impaired loans and leases, exclusive of loans and leases evaluated collectively as a homogenous group, as of June 30, 2015 and December 31, 2014 including interest income recognized in the period during which the loans and leases were considered impaired.

	June 30, 2015
(Dollars in thousands)	With a recorded allowance		With no recorded allowance		Total		Unpaid principal balance		Related allowance recorded
Non-PCI impaired loans and leases:
Construction and land development - commercial	$	2,620	$	472	$	3,092	$	8,514	$	445
Commercial mortgage	53,733		29,822		83,555		89,251		7,744
Other commercial real estate	101		300		401		848		101
Commercial and industrial	9,162		3,254		12,416		15,816		1,771
Lease financing	1,177		271		1,448		1,448		146
Other	1,732		—		1,732		1,732		17
Residential mortgage	8,760		7,664		16,424		17,118		1,623
Revolving mortgage	1,458		2,503		3,961		5,403		168
Construction and land development - noncommercial	—		860		860		860		—
Consumer	994		123		1,117		1,194		577
Total non-PCI impaired loans and leases	$	79,737	$	45,269	$	125,006	$	142,184	$	12,592
	December 31, 2014
(Dollars in thousands)	With a recorded allowance		With no recorded allowance		Total		Unpaid principal balance		Related allowance recorded
Non-PCI impaired loans and leases:
Construction and land development - commercial	$	996	$	624	$	1,620	$	6,945	$	92
Commercial mortgage	57,324		25,479		82,803		87,702		8,610
Other commercial real estate	112		472		584		913		112
Commercial and industrial	10,319		721		11,040		12,197		1,743
Lease financing	319		304		623		623		150
Other	2,000		—		2,000		2,000		1,972
Residential mortgage	10,198		4,715		14,913		15,746		1,360
Revolving mortgage	3,675		—		3,675		4,933		1,052
Construction and land development - noncommercial	1,077		263		1,340		1,340		71
Consumer	987		8		995		1,067		555
Total non-PCI impaired loans and leases	$	87,007	$	32,586	$	119,593	$	133,466	$	15,717

The following tables show the average non-PCI impaired loan balance and the interest income recognized by loan class for the three and six months ended June 30, 2015 and June 30, 2014:

	Three months ended June 30, 2015				Three months ended June 30, 2014
(Dollars in thousands)	Average balance		Interest income recognized		Average balance		Interest income recognized
Non-PCI impaired loans and leases:
Construction and land development - commercial	$	3,134	$	35	$	2,592	$	28
Commercial mortgage	86,253		840		87,687		799
Other commercial real estate	403		—		1,981		7
Commercial and industrial	14,088		146		11,208		113
Lease financing	1,463		16		384		4
Other	1,835		—		48		1
Residential mortgage	16,819		135		15,592		107
Revolving mortgage	4,015		23		3,779		29
Construction and land development - noncommercial	779		9		2,061		26
Consumer	1,154		20		986		17
Total non-PCI impaired loans and leases	$	129,943	$	1,224	$	126,318	$	1,131
	Six months ended June 30, 2015				Six months ended June 30, 2014
(Dollars in thousands)	Average balance		Interest income recognized		Average balance		Interest income recognized
Non-PCI impaired loans and leases:
Construction and land development - commercial	$	3,093	$	70	$	1,413	$	31
Commercial mortgage	83,115		1,602		84,359		1,716
Other commercial real estate	477		1		2,731		60
Commercial and industrial	12,220		249		15,690		353
Lease financing	1,527		34		732		21
Other	1,913		—		24		1
Residential mortgage	16,092		260		15,824		284
Revolving mortgage	3,501		39		4,262		76
Construction and land development - noncommercial	719		16		1,946		50
Consumer	1,088		39		2,058		51
Total non-PCI impaired loans and leases	$	123,745	$	2,310	$	129,039	$	2,643

Troubled Debt Restructurings

BancShares accounts for certain loan modifications or restructurings as troubled debt restructurings ("TDRs"). In general, the modification or restructuring of a loan is considered a TDR if, for economic reasons or legal reasons related to a borrower's financial difficulties, a concession is granted to the borrower that creditors would not otherwise grant. Concessions may relate to the contractual interest rate, maturity date, payment structure or other actions. In accordance with GAAP, acquired loans accounted for under ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality, are not initially considered to be TDRs, but can be classified as such if a modification is made subsequent to acquisition. Subsequent modifications of a PCI loan accounted for in a pool that would otherwise meet the definition of a TDR is not reported, or accounted for, as a TDR since pooled PCI loans are excluded from the scope of TDR accounting.

The following table provides a summary of total TDRs by accrual status.

	June 30, 2015						December 31, 2014
(Dollars in thousands)	Accruing		Nonaccruing		Total		Accruing		Nonaccruing		Total
Commercial loans
Construction and land development - commercial	$	3,500	$	633	$	4,133	$	2,591	$	446	$	3,037
Commercial mortgage	83,059		12,588		95,647		92,184		8,937		101,121
Other commercial real estate	1,898		401		2,299		2,374		449		2,823
Commercial and industrial	8,689		2,970		11,659		9,864		664		10,528
Lease	1,122		325		1,447		258		365		623
Other	—		—		—		34		—		34
Total commercial TDRs	98,268		16,917		115,185		107,305		10,861		118,166
Noncommercial
Residential mortgage	23,268		5,663		28,931		22,597		4,655		27,252
Revolving mortgage	2,412		1,361		3,773		3,675		—		3,675
Construction and land development - noncommercial	860		—		860		1,391		—		1,391
Consumer and other	2,774		54		2,828		995		—		995
Total noncommercial TDRs	29,314		7,078		36,392		28,658		4,655		33,313
Total TDRs	$	127,582	$	23,995	$	151,577	$	135,963	$	15,516	$	151,479

The majority of TDRs are included in the special mention, substandard or doubtful grading categories. When a restructured loan subsequently defaults, it is evaluated and downgraded if appropriate. The more severely graded the loan, the lower the estimated expected cash flows and the greater the allowance recorded. Further, TDRs over $500,000 and graded substandard or lower are evaluated individually for impairment through a review of collateral values.

The following table shows the accrual status of non-PCI and PCI TDRs.

(Dollars in thousands)	June 30, 2015		December 31, 2014
Accruing TDRs:
PCI	$	41,355	$	44,647
Non-PCI	86,227		91,316
Total accruing TDRs	127,582		135,963
Nonaccruing TDRs:
PCI	1,975		2,225
Non-PCI	22,020		13,291
Total nonaccruing TDRs	23,995		15,516
All TDRs:
PCI	43,330		46,872
Non-PCI	108,247		104,607
Total TDRs	$	151,577	$	151,479

The following tables provide the types of TDRs made during the three and six months ended June 30, 2015 and June 30, 2014, as well as a summary of loans that were modified as a TDR during the twelve months ended June 30, 2015 and June 30, 2014 that subsequently defaulted during the three and six months ended June 30, 2015 and June 30, 2014. BancShares defines payment default as movement of the TDR to nonaccrual status, which is generally 90 days past due for TDRs, foreclosure or charge-off, whichever occurs first.

	Three months ended June 30, 2015						Three months ended June 30, 2014
	All restructurings			Restructurings with payment default			All restructurings			Restructurings with payment default
(Dollars in thousands)	Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end
Non-PCI loans and leases
Interest only period provided
Commercial mortgage	2	$	69	—	$	—	2	$	720	1	$	494
Other	—	—		—	—		1	46		—	—
Total interest only	2	69		—	—		3	766		1	494
Loan term extension
Construction and land development - commercial	—	—		—	—		2	191		—	—
Commercial mortgage	2	840		—	—		—	—		—	—
Commercial and industrial	—	—		—	—		4	2,069		—	—
Residential mortgage	—	—		—	—		6	260		—	—
Consumer	—	—		—	—		1	10		—	—
Total loan term extension	2	840		—	—		13	2,530		—	—
Below market interest rate
Construction and land development - commercial	3	251		—	—		—	—		—	—
Commercial mortgage	6	1,510		—	—		3	1,991		5	1,563
Commercial and industrial	4	521		1	142		—	—		—	—
Other commercial real estate	—	—		—	—		1	365		—	—
Residential mortgage	15	646		1	15		10	427		—	—
Consumer	3	40		—	—		—	—		—	—
Total below market interest rate	31	2,968		2	157		14	2,783		5	1,563
Discharged from bankruptcy
Commercial and industrial	1	17		—	—		—	—		—	—
Residential mortgage	2	35		—	—		1	13		—	—
Revolving mortgage	7	203		3	60		2	39		—	—
Consumer	3	45		—	—		2	8		—	—
Total discharged from bankruptcy	13	300		3	60		5	60		—	—
Total non-PCI restructurings	48	$	4,177	5	$	217	35	$	6,139	6	$	2,057

	Six months ended June 30, 2015						Six months ended June 30, 2014
	All restructurings			Restructurings with payment default			All restructurings			Restructurings with payment default
(Dollars in thousands)	Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end
Non-PCI loans and leases
Interest only period provided
Commercial mortgage	2	$	69	—	$	—	6	$	2,600	2	$	708
Commercial and industrial	1	1,872		1	1,872		1	196		—	—
Lease financing	—	—		—	—		2	144		—	—
Other	—	—		—	—		1	46		—	—
Total interest only	3	1,941		1	1,872		10	2,986		2	708
Loan term extension
Construction and land development - commercial	1	212		1	212		2	191		—	—
Commercial mortgage	5	1,371		—	—		5	2,584		—	—
Commercial and industrial	—	—		—	—		4	2,069		—	—
Lease financing	—	—		—	—		2	224		—	—
Residential mortgage	—	—		—	—		11	593		—	—
Revolving mortgage	1	9		—	—		—	—		—	—
Consumer	1	5		—	—		3	44		—	—
Total loan term extension	8	1,597		1	212		27	5,705		—	—
Below market interest rate
Construction and land development - commercial	5	296		—	—		10	363		—	—
Commercial mortgage	16	5,226		1	498		15	6,591		6	2,011
Commercial and industrial	7	673		1	142		6	143		—	—
Other commercial real estate	—	—		—	—		1	365		—	—
Residential mortgage	42	1,698		3	58		18	820		1	140
Revolving mortgage	3	63		—	—		5	274		—	—
Construction & land development - noncommercial	2	253		—	—		8	1,248		—	—
Consumer	7	85		—	—		—	—		—	—
Other	1	1,732		—	—		—	—		—	—
Total below market interest rate	83	10,026		5	698		63	9,804		7	2,151
Discharged from bankruptcy
Commercial mortgage	1	622		—	—		1	983		—	—
Commercial and industrial	1	17		—	—		—	—		—	—
Residential mortgage	8	434		—	—		8	649		2	85
Revolving mortgage	16	632		5	158		7	442		—	—
Construction & land development - noncommercial	—	—		—	—		1	62		—	—
Consumer	4	48		—	—		3	26		—	—
Total discharged from bankruptcy	30	1,753		5	158		20	2,162		2	85
Total non-PCI restructurings	124	$	15,317	12	$	2,940	120	$	20,657	11	$	2,944

	Three months ended June 30, 2015						Three months ended June 30, 2014
	All restructurings			Restructurings with payment default			All restructurings			Restructurings with payment default
(Dollars in thousands)	Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end
PCI loans
Loan term extension
Residential mortgage	—	$	—	—	$	—	1	$	53	1	$	53
Total loan term extension	—	—		—	—		1	53		1	53
Below market interest rate
Construction and land development - commercial	—	—		—	—		1	273		—	—
Commercial mortgage	—	—		—	—		5	1,811		—	—
Commercial and industrial	—	—		—	—		1	23		—	—
Residential mortgage	1	60		—	—		23	2,963		1	23
Total below market interest rate	1	60		—	—		30	5,070		1	23
Discharged from bankruptcy
Residential mortgage	—	—		—	—		26	1,828		2	94
Total discharged from bankruptcy	—	—		—	—		26	1,828		2	94
Total PCI restructurings	1	$	60	—	$	—	31	$	5,123	2	$	76

	Six months ended June 30, 2015						Six months ended June 30, 2014
	All restructurings			Restructurings with payment default			All restructurings			Restructurings with payment default
(Dollars in thousands)	Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end
PCI loans
Interest only period provided
Commercial mortgage	—	$	—	—	$	—	2	$	—	2	$	44
Total interest only	—	—		—	—		2	—		2	44
Loan term extension
Construction and land development - commercial	—	—		—	—		1	276		—	—
Residential mortgage	—	—		—	—		1	53		1	53
Total loan term extension	—	—		—	—		2	329		1	53
Below market interest rate
Construction and land development - commercial	—	—		—	—		2	308		—	—
Commercial mortgage	—	—		—	—		9	5,060		1	39
Commercial and industrial	—	—		—	—		1	23		—	—
Residential mortgage	8	545		—	—		25	3,066		2	23
Total below market interest rate	8	545		—	—		37	8,457		3	62
Discharged from bankruptcy
Residential mortgage	1	78		—	—		26	1,828		2	94
Total discharged from bankruptcy	1	78		—	—		26	1,828		2	94
Total PCI restructurings	9	$	623	—	$	—	67	$	10,614	8	$	253

For the three and six months ended June 30, 2015 and June 30, 2014, the recorded investment in TDRs subsequent to modification was not materially impacted by the modification since forgiveness of principal is not a restructuring option frequently used by BancShares.

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Other Real Estate Owned

6 Months Ended

Jun. 30, 2015

Banking and Thrift [Abstract]

Other Real Estate Owned

OTHER REAL ESTATE OWNED (OREO)

The following table explains changes in other real estate owned during the six months ended June 30, 2015 and June 30, 2014.

(Dollars in thousands)	Covered			Noncovered			Total
Balance at December 31, 2013	$	47,081		$	36,898		$	83,979
Additions	16,186			8,894			25,080
Additions acquired in the 1st Financial merger	—			11,591			11,591
Sales	(18,522		)	(19,150		)	(37,672		)
Writedowns	(4,609		)	(3,082		)	(7,691		)
Balance at June 30, 2014	$	40,136		$	35,151		$	75,287
Balance at December 31, 2014	$	22,982		$	70,454		$	93,436
Additions	5,833			24,558			30,391
Sales	(12,962		)	(34,324		)	(47,286		)
Writedowns	(857		)	(2,436		)	(3,293		)
Transfers (1)	(2,106		)	2,106			—
Balance at June 30, 2015	$	12,890		$	60,358		$	73,248

⁽¹⁾ Transfers include OREO balances associated with expired loss share agreements.

At June 30, 2015 and December 31, 2014, BancShares had $17.6 million and $29.0 million, respectively, of foreclosed residential real estate property in OREO. The recorded investment in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure totaled $18.1 million and $24.8 million at June 30, 2015 and December 31, 2014, respectively.

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Mortgage Servicing Rights (Notes)

6 Months Ended

Jun. 30, 2015

Mortgage Servicing Rights [Abstract]

Transfers and Servicing of Financial Assets [Text Block]

NOTE H - MORTGAGE SERVICING RIGHTS

Our portfolio of residential mortgage loans serviced for third parties was $2.00 billion and $1.95 billion as of June 30, 2015 and December 31, 2014, respectively.  These loans were originated by BancShares and sold to third parties on a non-recourse basis with servicing rights retained.  These retained servicing rights are recorded as a servicing asset on the Consolidated Balance Sheets and are initially recorded at fair value.

The activity of the servicing asset for the three and six months ended June 30, 2015 and 2014 is presented in the following table:

	Three months ended June 30					Six months ended June 30
(Dollars in thousands)	2015			2014		2015			2014
Beginning balance	$	16,436		$	—	$	16,688		$	16
Servicing rights originated	1,927			—		2,589			—
Amortization	(1,110		)	—		(1,962		)	(164		)
Servicing rights acquired in the 1st Financial merger	—			—		—			148
Valuation allowance reversal	$	909		$	—	$	847		$	—
Ending balance	$	18,162		$	—	$	18,162		$	—

The following table presents the activity in the servicing asset valuation allowance for the three and six months ended June 30, 2015 and 2014:

	Three months ended June 30					Six months ended June 30
(Dollars in thousands)	2015			2014		2015			2014
Beginning balance	$	912		$	—	$	850		$	—
Valuation allowance reversal	(909		)	—		(847		)	—
Ending balance	$	3		$	—	$	3		$	—

As of June 30, 2015, the carrying value of BancShares' mortgage servicing rights was $18.2 million. Contractually specified mortgage servicing fees, late fees, and ancillary fees earned for the three and six months ended June 30, 2015 were $4.2 million and $6.1 million, respectively, and are included in mortgage income in the Consolidated Statements of Income. Mortgage servicing fees, late fees or ancillary fees earned for the three and six months ended June 30, 2014 were insignificant.

The amortization expense related to mortgage servicing rights, included as a reduction of mortgage income in the Consolidated Statements of Income, was $1.1 million for the three months ended June 30, 2015. For the six months ended June 30, 2015 and 2014 the amortization expense related to mortgage servicing rights was $2.0 million and $164 thousand, respectively. Amortization expense included a reversal of $909 thousand and $847 thousand for the three and six months ended June 30, 2015. No net valuation allowance impairment was recorded for the three and six months ended June 30, 2014.

Valuation of mortgage servicing rights is performed using a pooling methodology. Similar loans are pooled together and evaluated on a discounted earnings basis to determine the present value of future earnings. Key economic assumptions used to value mortgage servicing rights as of June 30, 2015 and December 31, 2014 were as follows:

	June 30, 2015			December 31, 2014
Discount rate - conventional fixed loans	7.35		%	7.20		%
Discount rate - all loans excluding conventional fixed loans	9.35		%	9.20		%
Weighted average constant prepayment rate	13.24		%	14.25		%
Weighted average cost to service a loan	$	56.61		$	56.02

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Estimated Fair Values (Estimated Fair Values For Certain Financial Assets And Financial Liabilities) (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks		$ 514,404		$ 604,182
Overnight investments		1,703,341		1,724,919
Investment securities available for sale		7,350,194		7,171,917
Investment securities held to maturity		351		518
Loans held for sale		85,040		63,696
Loans and Leases Receivable, Net Amount		19,311,868		18,564,999
FDIC Indemnification Asset		5,808	$ 21,340	28,701	$ 49,959	$ 74,784	$ 93,397
Income earned not collected		66,729		57,254
Mortgage servicing rights		18,162	$ 16,436	16,688	$ 0	$ 0	$ 16
Deposits		26,511,896		25,678,577
FDIC loss share payable		122,038		116,535
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks		514,404		604,182
Overnight investments		1,703,341		1,724,919
Investment securities available for sale		7,350,194		7,171,917
Investment securities held to maturity		351		518
Loans held for sale		85,040		63,696
Loans and Leases Receivable, Net Amount		19,311,868		18,564,999
FDIC Indemnification Asset	[1]	5,808		28,701
Income earned not collected		66,729		57,254
Stock issued by Federal Home Loan Bank		27,736		39,113
Preferred stock and other acquired financial assets		3,016		13,689
Mortgage servicing rights		18,162		16,688
Deposits		26,511,896		25,678,577
Short-term borrowings		723,225		987,184
Long-term obligations		475,568		351,320
FDIC loss share payable		122,038		116,535
Accrued interest payable		5,835		8,194
Interest rate swap		3,052		4,337
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks		514,404		604,182
Overnight investments		1,703,341		1,724,919
Investment securities available for sale		7,350,194		7,171,917
Investment securities held to maturity		365		544
Loans held for sale		85,040		63,696
Loans and Leases Receivable, Net Amount		18,755,676		18,046,497
FDIC Indemnification Asset	[1]	5,808		18,218
Income earned not collected		66,729		57,254
Stock issued by Federal Home Loan Bank		27,736		39,113
Preferred stock and other acquired financial assets		3,061		14,708
Mortgage servicing rights		20,078		16,736
Deposits		25,915,474		25,164,683
Short-term borrowings		723,225		987,184
Long-term obligations		493,715		367,732
FDIC loss share payable		128,049		122,168
Accrued interest payable		5,835		8,194
Interest rate swap		$ 3,052		$ 4,337

[1] (1) At June 30, 2015, the carrying value of the FDIC receivable approximates the fair value due to the short term nature of the majority of loss share agreements. At December 31, 2014, the fair value of the FDIC receivable is estimated based on discounted future cash flows using current discount rates and excludes receivable related to accretable yield to be amortized in prospective periods.

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Estimated Fair Values (Assets And Liabilities Carried At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	$ 7,350,194	$ 7,171,917
Fair Value, Measurements, Recurring | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	7,350,194	7,171,917
Loans held for sale	85,040	63,696
Interest rate swaps accounted for as cash flow hedges	3,052	4,337
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	0	0
Loans held for sale	0	0
Interest rate swaps accounted for as cash flow hedges	0	0
Fair Value, Measurements, Recurring | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	7,350,194	7,171,917
Loans held for sale	85,040	63,696
Interest rate swaps accounted for as cash flow hedges	3,052	4,337
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	0	0
Loans held for sale	0	0
Interest rate swaps accounted for as cash flow hedges	0	0
Fair Value, Measurements, Recurring | U.S. Treasury | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	2,206,859	2,629,670
Fair Value, Measurements, Recurring | U.S. Treasury | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | U.S. Treasury | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	2,206,859	2,629,670
Fair Value, Measurements, Recurring | U.S. Treasury | Significant Unobservable Inputs (Level 3 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Government Agency | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	776,244	908,817
Fair Value, Measurements, Recurring | Government Agency | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Government Agency | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	776,244	908,817
Fair Value, Measurements, Recurring | Government Agency | Significant Unobservable Inputs (Level 3 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Mortgage Backed Securities, Other [Member] | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	4,367,091	3,633,304
Fair Value, Measurements, Recurring | Mortgage Backed Securities, Other [Member] | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Mortgage Backed Securities, Other [Member] | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	4,367,091	3,633,304
Fair Value, Measurements, Recurring | Mortgage Backed Securities, Other [Member] | Significant Unobservable Inputs (Level 3 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	$ 0	0
Fair Value, Measurements, Recurring | State, County, Municipal | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale		126
Fair Value, Measurements, Recurring | State, County, Municipal | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale		0
Fair Value, Measurements, Recurring | State, County, Municipal | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale		126
Fair Value, Measurements, Recurring | State, County, Municipal | Significant Unobservable Inputs (Level 3 Inputs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale		$ 0

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Repurchase Agreements (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	$ 869,000	$ 418,300
Securities Sold under Agreements to Repurchase	740,674	324,425
Securities Sold under Agreements to Repurchase, Gross	740,674	324,425
Government Agency
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	6,908	6,914
U. S. Treasury
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	733,766	186,010
Mortgage Backed Securities, Other [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase		131,501
Overnight and continuous
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	710,674	294,425
Overnight and continuous | Government Agency
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	0	0
Overnight and continuous | U. S. Treasury
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	710,674	162,924
Overnight and continuous | Mortgage Backed Securities, Other [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase		131,501
Up to 30 days
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	0	0
Up to 30 days | Government Agency
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	0	0
Up to 30 days | U. S. Treasury
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	0	0
Up to 30 days | Mortgage Backed Securities, Other [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase		0
30 - 90 days
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	0	0
30 - 90 days | Government Agency
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	0	0
30 - 90 days | U. S. Treasury
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	0	0
30 - 90 days | Mortgage Backed Securities, Other [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase		0
Greater than 90 days
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	30,000	30,000
Greater than 90 days | Government Agency
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	6,908	6,914
Greater than 90 days | U. S. Treasury
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase	$ 23,092	23,086
Greater than 90 days | Mortgage Backed Securities, Other [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Sold under Agreements to Repurchase		$ 0

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Derivatives (Tables)

6 Months Ended

Jun. 30, 2015

Interest Rate Swap

Derivative [Line Items]

Schedule Of Interest Rate Swaps

	June 30, 2015				December 31, 2014
(Dollars in thousands)	Notional  amount		Estimated fair value of liability		Notional  amount		Estimated fair value of liability
2011 interest rate swap hedging variable rate exposure on trust preferred securities 2011-2016	$	93,500	$	3,052	$	93,500	$	4,337

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Loans and Leases (Changes In Carrying Amount Of Accretable Yield) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Loans and Leases Receivable Disclosure [Abstract]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield	$ 379,101	$ 456,491	$ 418,160	$ 439,990
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Additions	53,192	84,295
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Accretion	(59,182)	(60,660)
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference	12,322	9,992
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Changes in Expected Cash Flows Not Affecting Nonaccretable Difference	$ (45,391)	$ (17,126)

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Derivatives

6 Months Ended

Jun. 30, 2015

Summary of Derivative Instruments [Abstract]

Derivatives

DERIVATIVES

At June 30, 2015, BancShares had an interest rate swap entered into during 2011 that qualifies as a cash flow hedge under GAAP. For all periods presented, the fair value of the outstanding derivative is included in other liabilities in the consolidated balance sheets, and the net change in fair value is included in the consolidated statements of cash flows under the caption net change in other liabilities.

The following table provides the notional amount of the interest rate swap and the fair value of the liability as of June 30, 2015 and December 31, 2014.

	June 30, 2015				December 31, 2014
(Dollars in thousands)	Notional  amount		Estimated fair value of liability		Notional  amount		Estimated fair value of liability
2011 interest rate swap hedging variable rate exposure on trust preferred securities 2011-2016	$	93,500	$	3,052	$	93,500	$	4,337

The interest rate swap is used for interest rate risk management purposes and converts variable-rate exposure on outstanding debt to a fixed rate. The interest rate swap has a notional amount of $93.5 million, representing the amount of variable rate trust preferred capital securities issued during 2006 and still outstanding at the swap inception date. The interest rate swap hedges interest payments through June 2016 and requires fixed-rate payments by BancShares at 5.50 percent in exchange for variable-rate payments of 175 basis points above the three-month LIBOR, which is equal to the interest paid to the holders of the trust preferred capital securities. Settlement of the swap occurs quarterly. As of June 30, 2015 and December 31, 2014, collateral with a fair value of $2.0 million and $7.0 million, respectively, was pledged to secure the existing obligation under the interest rate swap.

For cash flow hedges, the effective portion of the gain or loss due to changes in the fair value of the derivative hedging instrument is included in other comprehensive income, while the ineffective portion, representing the excess of the cumulative change in the fair value of the derivative over the cumulative change in expected future discounted cash flows on the hedged transaction, is recorded in the consolidated statement of income. BancShares’ interest rate swap has been fully effective since inception. Therefore, changes in the fair value of the interest rate swap have had no impact on net income. For the three months ended June 30, 2015 and 2014, BancShares recognized interest expense of $830 thousand and $831 thousand, respectively, resulting from incremental interest paid to the interest rate swap counterparty, none of which related to ineffectiveness. For the six months ended June 30, 2015 and 2014, BancShares recognized interest expense of $1.7 million during both periods, resulting from incremental interest paid to the interest swap counterparty, none of which related to ineffectiveness.

BancShares monitors the credit risk of the interest rate swap counterparty.

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Loans and Leases (Tables)

6 Months Ended

Jun. 30, 2015

Loans and Leases Receivable Disclosure [Abstract]

Loans And Leases Outstanding

Loans and leases outstanding included the following at June 30, 2015 and December 31, 2014:

(Dollars in thousands)	June 30, 2015		December 31, 2014
Non-PCI loans and leases:
Commercial:
Construction and land development	$	547,151	$	493,133
Commercial mortgage	7,861,590		7,552,948
Other commercial real estate	288,214		244,875
Commercial and industrial	2,199,591		1,988,934
Lease financing	643,508		571,916
Other	338,389		353,833
Total commercial loans	11,878,443		11,205,639
Noncommercial:
Residential mortgage	2,597,064		2,493,058
Revolving mortgage	2,529,936		2,561,800
Construction and land development	227,280		205,016
Consumer	1,164,223		1,117,454
Total noncommercial loans	6,518,503		6,377,328
Total non-PCI loans and leases	18,396,946		17,582,967
PCI loans:
Commercial:
Construction and land development	48,208		78,079
Commercial mortgage	611,505		577,518
Other commercial real estate	14,353		40,193
Commercial and industrial	20,382		27,254
Other	2,597		3,079
Total commercial loans	697,045		726,123
Noncommercial:
Residential mortgage	358,307		382,340
Revolving mortgage	64,340		74,109
Construction and land development	345		912
Consumer	3,202		3,014
Total noncommercial loans	426,194		460,375
Total PCI loans	1,123,239		1,186,498
Total loans and leases	$	19,520,185	$	18,769,465

Composition Of The Loans And Leases Outstanding By Credit Quality Indicator

Non-PCI loans and leases outstanding at June 30, 2015 and December 31, 2014 by credit quality indicator are provided below:

	June 30, 2015
(Dollars in thousands)	Non-PCI commercial loans and leases
Grade:	Construction  and land development		Commercial mortgage		Other commercial real estate		Commercial  and industrial		Lease financing		Other		Total non-PCI commercial loans and leases
Pass	$	532,286	$	7,613,114	$	285,339	$	2,050,360	$	635,084	$	334,601	$	11,450,784
Special mention	12,385		102,773		267		17,861		4,797		1,859		139,942
Substandard	2,331		141,061		1,043		16,471		3,294		1,929		166,129
Doubtful	—		1,553		—		2,333		325		—		4,211
Ungraded	149		3,089		1,565		112,566		8		—		117,377
Total	$	547,151	$	7,861,590	$	288,214	$	2,199,591	$	643,508	$	338,389	$	11,878,443
	December 31, 2014
	Non-PCI commercial loans and leases
	Construction  and land development		Commercial mortgage		Other commercial real estate		Commercial  and industrial		Lease financing		Other		Total non-PCI commercial loans and leases
Pass	$	474,374	$	7,284,714	$	242,053	$	1,859,415	$	564,319	$	349,111	$	10,773,986
Special mention	13,927		129,247		909		27,683		3,205		1,384		176,355
Substandard	4,720		134,677		1,765		8,878		3,955		3,338		157,333
Doubtful	—		2,366		—		164		365		—		2,895
Ungraded	112		1,944		148		92,794		72		—		95,070
Total	$	493,133	$	7,552,948	$	244,875	$	1,988,934	$	571,916	$	353,833	$	11,205,639

	June 30, 2015
	Non-PCI noncommercial loans and leases
(Dollars in thousands)	Residential mortgage		Revolving mortgage		Construction and land development		Consumer		Total non-PCI noncommercial loans and leases
Current	$	2,559,874	$	2,516,158	$	224,776	$	1,156,148	$	6,456,956
30-59 days past due	22,118		6,174		1,542		5,060		34,894
60-89 days past due	6,039		2,372		469		1,928		10,808
90 days or greater past due	9,033		5,232		493		1,087		15,845
Total	$	2,597,064	$	2,529,936	$	227,280	$	1,164,223	$	6,518,503
	December 31, 2014
	Non-PCI noncommercial loans and leases
	Residential mortgage		Revolving mortgage		Construction and land development		Consumer		Total non-PCI noncommercial loans and leases
Current	$	2,454,797	$	2,542,807	$	202,344	$	1,110,153	$	6,310,101
30-59 days past due	23,288		11,097		1,646		4,577		40,608
60-89 days past due	6,018		2,433		824		1,619		10,894
90 days or greater past due	8,955		5,463		202		1,105		15,725
Total	$	2,493,058	$	2,561,800	$	205,016	$	1,117,454	$	6,377,328

PCI loans and leases outstanding at June 30, 2015 and December 31, 2014 by credit quality indicator are provided below:

	June 30, 2015
(Dollars in thousands)	PCI commercial loans
Grade:	Construction and land development		Commercial mortgage		Other commercial real estate		Commercial and industrial		Other		Total PCI commercial loans
Pass	$	18,052	$	324,320	$	8,456	$	11,681	$	796	$	363,305
Special mention	2,506		100,609		13		1,934		—		105,062
Substandard	21,917		172,577		5,549		5,796		1,801		207,640
Doubtful	4,341		13,571		—		307		—		18,219
Ungraded	1,392		428		335		664		—		2,819
Total	$	48,208	$	611,505	$	14,353	$	20,382	$	2,597	$	697,045
	December 31, 2014
	PCI commercial loans
	Construction and land development		Commercial mortgage		Other commercial real estate		Commercial and industrial		Other		Total PCI commercial loans
Pass	$	13,514	$	300,187	$	11,033	$	16,637	$	801	$	342,172
Special mention	6,063		98,724		16,271		4,137		—		125,195
Substandard	53,739		171,920		12,889		6,312		2,278		247,138
Doubtful	2,809		6,302		—		130		—		9,241
Ungraded	1,954		385		—		38		—		2,377
Total	$	78,079	$	577,518	$	40,193	$	27,254	$	3,079	$	726,123

	June 30, 2015
	PCI noncommercial loans
(Dollars in thousands)	Residential mortgage		Revolving mortgage		Construction and land development		Consumer		Total PCI noncommercial loans
Current	$	311,880	$	57,529	$	314	$	2,902	$	372,625
30-59 days past due	11,435		4,434		31		112		16,012
60-89 days past due	3,882		147		—		45		4,074
90 days or greater past due	31,110		2,230		—		143		33,483
Total	$	358,307	$	64,340	$	345	$	3,202	$	426,194
	December 31, 2014
	PCI noncommercial loans
	Residential mortgage		Revolving mortgage		Construction and land development		Consumer		Total PCI noncommercial loans
Current	$	326,589	$	68,548	$	506	$	2,582	$	398,225
30-59 days past due	11,432		1,405		—		147		12,984
60-89 days past due	10,073		345		—		25		10,443
90 days or greater past due	34,246		3,811		406		260		38,723
Total	$	382,340	$	74,109	$	912	$	3,014	$	460,375

Aging Of The Outstanding Loans And Leases By Class Excluding Loans Impaired At Acquisition Date

The aging of the outstanding non-PCI loans and leases, by class, at June 30, 2015 and December 31, 2014 is provided in the table below.

The calculation of days past due begins on the day after payment is due and includes all days through which all required interest or principal has not been paid. Loans and leases 30 days or less past due are considered current as various grace periods allow borrowers to make payments within a stated period after the due date and still remain in compliance with the loan agreement.

	June 30, 2015
(Dollars in thousands)	30-59 days past due		60-89 days past due		90 days or greater		Total past due		Current		Total loans and leases
Non-PCI loans and leases:
Construction and land development - commercial	$	1,632	$	612	$	921	$	3,165	$	543,986	$	547,151
Commercial mortgage	11,903		4,896		14,676		31,475		7,830,115		7,861,590
Other commercial real estate	49		—		188		237		287,977		288,214
Commercial and industrial	6,275		1,010		1,050		8,335		2,191,256		2,199,591
Lease financing	1,161		90		308		1,559		641,949		643,508
Residential mortgage	22,118		6,039		9,033		37,190		2,559,874		2,597,064
Revolving mortgage	6,174		2,372		5,232		13,778		2,516,158		2,529,936
Construction and land development - noncommercial	1,542		469		493		2,504		224,776		227,280
Consumer	5,060		1,928		1,087		8,075		1,156,148		1,164,223
Other	338		—		210		548		337,841		338,389
Total non-PCI loans and leases	$	56,252	$	17,416	$	33,198	$	106,866	$	18,290,080	$	18,396,946
	December 31, 2014
	30-59 days past due		60-89 days past due		90 days or greater		Total past due		Current		Total loans and leases
Non-PCI loans and leases:
Construction and land development - commercial	$	520	$	283	$	330	$	1,133	$	492,000	$	493,133
Commercial mortgage	11,367		4,782		8,061		24,210		7,528,738		7,552,948
Other commercial real estate	206		70		102		378		244,497		244,875
Commercial and industrial	2,843		1,545		378		4,766		1,984,168		1,988,934
Lease financing	1,631		8		2		1,641		570,275		571,916
Residential mortgage	23,288		6,018		8,955		38,261		2,454,797		2,493,058
Revolving mortgage	11,097		2,433		5,463		18,993		2,542,807		2,561,800
Construction and land development - noncommercial	1,646		824		202		2,672		202,344		205,016
Consumer	4,577		1,619		1,105		7,301		1,110,153		1,117,454
Other	146		1,966		—		2,112		351,721		353,833
Total non-PCI loans and leases	$	57,321	$	19,548	$	24,598	$	101,467	$	17,481,500	$	17,582,967

Recorded Investment, By Class, In Loans And Leases On Nonaccrual Status And Loans And Leases Greater Than 90 Days Past Due And Still Accruing

The recorded investment, by class, in loans and leases on nonaccrual status, and loans and leases greater than 90 days past due and still accruing at June 30, 2015 and December 31, 2014 for non-PCI loans, were as follows:

	June 30, 2015				December 31, 2014
(Dollars in thousands)	Nonaccrual loans and leases		Loans and leases > 90 days and accruing		Nonaccrual loans and leases		Loans and leases > 90 days and accruing
Non-PCI loans and leases:
Construction and land development - commercial	$	1,401	$	102	$	343	$	56
Commercial mortgage	34,140		2,863		24,720		1,003
Other commercial real estate	588		30		619		35
Commercial and industrial	4,158		555		1,741		239
Lease financing	353		37		374		2
Residential mortgage	20,044		671		14,242		3,191
Revolving mortgage	11,765		19		—		5,463
Construction and land development - noncommercial	1		—		—		202
Consumer	852		606		—		1,059
Other	133		77		1,966		—
Total non-PCI loans and leases	$	73,435	$	4,960	$	44,005	$	11,250

Changes In Carrying Value Of PCI Loans

The recorded fair values of PCI loans acquired in the CCBT acquisition as of the acquisition date were as follows:

(Dollars in thousands)
Commercial:
Construction and land development	$	4,116
Commercial mortgage	129,732
Other commercial real estate	3,202
Commercial and industrial	2,844
Total commercial loans	139,894
Noncommercial:
Residential mortgage	13,251
Consumer	1,351
Total noncommercial loans	14,602
Total PCI loans and leases	$	154,496

The following table provides changes in the carrying value of all purchased credit-impaired loans during the six months ended June 30, 2015 and June 30, 2014:

(Dollars in thousands)	2015			2014
Balance at January 1	$	1,186,498		$	1,029,426
Fair value of acquired loans	154,496			316,327
Accretion	59,182			60,660
Payments received and other changes, net	(276,937		)	(296,480		)
Balance at June 30	$	1,123,239		$	1,109,933
Unpaid principal balance at June 30	$	2,025,905		$	1,888,475

Schedule of Contractually Required Payments Including Principal and Interest Expected Cash Flows to be Collected and Fair Values [Table Text Block]

The following table relates to PCI loans acquired in the CCBT acquisition and summarizes the contractually required payments, which include principal and interest, expected cash flows to be collected, and the fair value of PCI loans and leases at the acquisition date.

(Dollars in thousands)
Contractually required payments	$	247,812
Cash flows expected to be collected	$	207,688
Fair value of loans at acquisition	$	154,496

Changes In Carrying Value of Accretable Yield for PCI Loans

The following table documents changes to the amount of accretable yield for the first six months of 2015 and 2014.

(Dollars in thousands)	2015			2014
Balance at January 1	$	418,160		$	439,990
Additions from acquisitions	53,192			84,295
Accretion	(59,182		)	(60,660		)
Reclassifications from nonaccretable difference	12,322			9,992
Changes in expected cash flows that do not affect nonaccretable difference	(45,391		)	(17,126		)
Balance at June 30	$	379,101		$	456,491

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Loans and Leases (Recorded Investment, By Class, In Loans And Leases On Nonaccrual Status And Loans And Leases Greater Than 90 Days Past Due And Still Accruing) (Details) - Non-PCI Loans - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccruing	$ 73,435	$ 44,005
Loans and leases greater than 90 days and accruing	4,960	11,250
Commercial | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccruing	1,401	343
Loans and leases greater than 90 days and accruing	102	56
Commercial | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccruing	34,140	24,720
Loans and leases greater than 90 days and accruing	2,863	1,003
Commercial | Other commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccruing	588	619
Loans and leases greater than 90 days and accruing	30	35
Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccruing	4,158	1,741
Loans and leases greater than 90 days and accruing	555	239
Commercial | Lease financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccruing	353	374
Loans and leases greater than 90 days and accruing	37	2
Noncommerical | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccruing	1	0
Loans and leases greater than 90 days and accruing	0	202
Noncommerical | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccruing	20,044	14,242
Loans and leases greater than 90 days and accruing	671	3,191
Noncommerical | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccruing	133	1,966
Loans and leases greater than 90 days and accruing	77	0
Noncommerical | Revolving mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccruing	11,765	0
Loans and leases greater than 90 days and accruing	19	5,463
Noncommerical | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccruing	852	0
Loans and leases greater than 90 days and accruing	$ 606	$ 1,059

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Investments (Unrealized Losses) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Investment securities available for sale:
Fair Value, Less than 12 months	$ 1,962,911	$ 1,173,274
Unrealized Losses, Less than 12 months	13,121	2,203
Fair Value, 12 months or more	296,170	832,420
Unrealized Losses, Greater than 12 months	4,783	10,043
Fair Value, Total	2,259,081	2,005,694
Unrealized Losses, Total	17,904	12,246
U. S. Treasury
Investment securities available for sale:
Fair Value, Less than 12 months		338,612
Unrealized Losses, Less than 12 months		151
Fair Value, 12 months or more		1,015
Unrealized Losses, Greater than 12 months		1
Fair Value, Total		339,627
Unrealized Losses, Total	0	152
Government Agency
Investment securities available for sale:
Fair Value, Less than 12 months	90,567	261,288
Unrealized Losses, Less than 12 months	385	247
Fair Value, 12 months or more	0	0
Unrealized Losses, Greater than 12 months	0	0
Fair Value, Total	90,567	261,288
Unrealized Losses, Total	385	247
Mortgage Backed Securities, Other [Member]
Investment securities available for sale:
Fair Value, Less than 12 months	1,872,344	573,374
Unrealized Losses, Less than 12 months	12,736	1,805
Fair Value, 12 months or more	296,170	831,405
Unrealized Losses, Greater than 12 months	4,783	10,042
Fair Value, Total	2,168,514	1,404,779
Unrealized Losses, Total	$ 17,519	11,847
State, County and Municipal
Investment securities available for sale:
Unrealized Losses, Total		$ 0

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Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 44,522	$ 26,686	$ 111,680	$ 49,165
Unrealized gains and losses on securities:
Change in unrealized securities gains (losses) arising during period	(29,226)	31,550	1,189	43,449
Tax effect	11,352	(12,225)	(461)	(16,868)
Reclassification adjustment for net gains realized and included in income before income taxes	147	0	5,273	0
Tax effect	74	0	2,051	0
Total change in unrealized gains and losses on securities, net of tax	(17,947)	19,325	(2,494)	26,581
Change in fair value of cash flow hedges:
Change in unrecognized loss on cash flow hedges	709	568	1,285	1,287
Tax effect	(274)	(218)	(496)	(496)
Total change in unrecognized loss on cash flow hedges, net of tax	435	350	789	791
Change in pension obligation:
Reclassification adjustment for losses included in income before income taxes	2,887	1,598	5,773	3,197
Tax effect	(1,123)	(622)	(2,246)	(1,244)
Total change in pension obligation, net of tax	1,764	976	3,527	1,953
Net current period other comprehensive income	(15,748)	20,651	1,822	29,325
Total comprehensive income	$ 28,774	$ 47,337	$ 113,502	$ 78,490

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Business Combinations

6 Months Ended

Jun. 30, 2015

Business Combinations [Abstract]

Business Combinations

NOTE B - BUSINESS COMBINATIONS

Capitol City Bank & Trust Company

On February 13, 2015, FCB entered into an agreement with the Federal Deposit Insurance Corporation (FDIC), as Receiver, to purchase certain assets and assume certain liabilities of CCBT. The acquisition expanded FCB's presence in Georgia as CCBT operated eight branch locations in Atlanta, Stone Mountain, Albany, Augusta and Savannah, Georgia. In June of 2015, FCB closed one of the branches in Atlanta.

The fair value of the assets acquired recorded was $211.9 million, including $154.5 million in loans and $690 thousand of identifiable intangible assets. Liabilities assumed were $272.5 million of which $266.4 million were deposits. During the second quarter of 2015, adjustments were made to the acquisition fair values primarily based upon updated collateral valuations resulting in an increase of $5.4 million to the gain on acquisition. These adjustments were applied retroactively to the first quarter of 2015 and brought the total gain on the transaction to $42.9 million which is included in noninterest income in the Consolidated Statements of Income. The total after-tax impact of the gain was $26.2 million.

The CCBT transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as additional information regarding closing date fair values becomes available.

The following table provides the identifiable assets acquired and liabilities assumed at their estimated fair values as of the acquisition date.

(Dollars in thousands)	As recorded by FCB
Assets
Cash and cash equivalents	$	19,622
Investment securities	35,413
Loans	154,496
Intangible assets	690
Other assets	1,714
Total assets acquired	211,935
Liabilities
Deposits	266,352
Short-term borrowings	5,501
Other liabilities	667
Total liabilities assumed	272,520
Fair value of net liabilities assumed	(60,585		)
Cash received from FDIC	103,515
Gain on acquisition of CCBT	$	42,930

Merger-related expenses of $1.1 million and $1.3 million were recorded in the Consolidated Statements of Income for the three and six months ended June 30, 2015, respectively. Loan-related interest income generated from CCBT was approximately $2.4 million for the second quarter of 2015 and $3.7 million since the acquisition date.

All loans resulting from the CCBT transaction were recorded at the acquisition date with a discount attributable, at least in part, to credit quality, and are therefore accounted for as purchased credit-impaired (PCI) loans under ASC 310-30.

First Citizens Bancorporation, Inc. and First Citizens Bank and Trust Company, Inc.

On October 1, 2014, BancShares completed the merger of First Citizens Bancorporation, Inc. (Bancorporation) with and into BancShares pursuant to an Agreement and Plan of Merger dated June 10, 2014, as amended on July 29, 2014. First Citizens Bank and Trust Company, Inc. merged with and into FCB on January 1, 2015.

Under the terms of the Merger Agreement, each share of Bancorporation common stock was converted into the right to receive 4.00 shares of BancShares' Class A common stock and $50.00 cash, unless the holder elected for each share to be converted into the right to receive 3.58 shares of BancShares' Class A common stock and 0.42 shares of BancShares' Class B common stock. BancShares issued 2,586,762 Class A common shares at a fair value of $560.4 million and 18,202 Class B common shares at a fair value of $3.9 million to Bancorporation shareholders. Also, cash paid to Bancorporation shareholders was $30.4 million. At the time of the merger, Bancorporation owned 32,042 shares of common stock in Bancorporation with an approximate fair value of $29.6 million. The fair value of common stock owned by BancShares in Bancorporation was considered part of the purchase price, and the shares ceased to exist after completion of the merger.

The Bancorporation transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition. Assets acquired, excluding goodwill, totaled $8.28 billion, including $4.49 billion in loans and leases, $2.01 billion of investment securities available for sale, $1.28 billion in cash and overnight investments, and $109.4 million of identifiable intangible assets. Liabilities assumed were $7.66 billion, including $7.17 billion of deposits. Goodwill of $4.2 million was recorded equaling the excess purchase price over the estimated fair value of the net assets acquired on the acquisition date.

The following unaudited pro forma financial information reflects the consolidated results of operations of BancShares. These results combine the historical results of Bancorporation in the BancShares' Consolidated Statements of Income and, while certain adjustments were made for the estimated impact of certain fair value adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition taken place at the beginning of the period presented. The unaudited pro forma information has been presented for illustrative purposes only and is not necessarily indicative of the consolidated results of operations that would have been achieved or the future results of operations of BancShares.

	Three months ended June 30		Six months ended June 30
(Dollars in thousands)	2014		2014
Total revenue (interest income plus noninterest income)	$	330,253	$	653,777
Net income	$	40,259	$	77,489

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Receivable from FDIC for Loss Share Agreements (Changes in Receivable from FDIC) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Receivable From FDIC For Loss Share Agreements [Abstract]
FDIC Indemnification Asset	$ 5,808	$ 49,959	$ 5,808	$ 49,959	$ 21,340	$ 28,701	$ 74,784	$ 93,397
Receivable From FDIC For Loss Share Agreements [Roll Forward]
Accretion of discounts and premiums, net	(1,461)	(12,922)	(6,492)	(30,667)
Receipt of payments from FDIC	5,128	859	10,890	4,350
Post-acquisition and other adjustments, net	$ (19,199)	$ (12,762)	$ (27,291)	$ (17,121)

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Employee Benefit Plans (Components Of Pension Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
BancShares Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 3,603	$ 2,785	$ 7,203	$ 6,166
Interest cost	6,750	6,251	13,498	12,807
Expected return on assets	(8,299)	(8,340)	(16,594)	(16,152)
Amortization of prior service cost	52	52	105	105
Amortization of net actuarial loss	2,835	1,546	5,668	3,092
Total pension expense	4,941	$ 2,294	9,880	$ 6,018
Bancorporation Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	932		1,865
Interest cost	1,627		3,255
Expected return on assets	(2,870)		(5,739)
Amortization of prior service cost	0		0
Amortization of net actuarial loss	0		0
Total pension expense	$ (311)		$ (619)

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Allowance for Loan and Lease Losses (Tables)

6 Months Ended

Jun. 30, 2015

Loans and Leases Receivable, Allowance [Abstract]

Allowance for Loan and Lease Losses

The following tables show the activity in the allowance for PCI loan and lease losses by loan class for the three months and six months ended June 30, 2015 and June 30, 2014.

	Three months ended June 30, 2015
(Dollars in thousands)	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Residential mortgage			Revolving mortgage			Construction and land development - noncommercial			Consumer and other			Total
PCI Loans
Allowance for loan and lease losses:
Balance at April 1	$	341		$	8,876		$	194		$	11		$	4,872		$	3,271		$	31		$	23		$	17,619
Provision	325			(2,065		)	(125		)	399			1,165			(1,112		)	(31		)	169			(1,275		)
Charge-offs	(97		)	(383		)	—			(87		)	(195		)	(108		)	—			(6		)	(876		)
Recoveries	—			—			—			—			—			—			—			—			—
Balance at June 30	$	569		$	6,428		$	69		$	323		$	5,842		$	2,051		$	—		$	186		$	15,468
	Three months ended June 30, 2014
(Dollars in thousands)	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Residential mortgage			Revolving mortgage			Construction and land development - noncommercial			Consumer and other			Total
Balance at April 1	$	4,476		$	23,003		$	1,204		$	2,256		$	9,764		$	3,493		$	583		$	214		$	44,993
Provision	(77		)	(1,185		)	(797		)	(1,729		)	(2,176		)	(3,031		)	(583		)	49			(9,529		)
Charge-offs	(596		)	(4,503		)	—			(152		)	(495		)	(381		)	—			(6		)	(6,133		)
Recoveries	—			—			—			—			—			—			—			—			—
Balance at June 30	$	3,803		$	17,315		$	407		$	375		$	7,093		$	81		$	—		$	257		$	29,331
	Six months ended June 30, 2015
(Dollars in thousands)	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Residential mortgage			Revolving mortgage			Construction and land development - noncommercial			Consumer and other			Total
Balance at January 1	$	150		$	10,135		$	75		$	1,240		$	5,820		$	3,999		$	183		$	27		$	21,629
Provision	516			(2,990		)	(6		)	(632		)	302			(1,767		)	(183		)	621			(4,139		)
Charge-offs	(97		)	(717		)	—			(285		)	(280		)	(181		)	—			(462		)	(2,022		)
Recoveries	—			—			—			—			—			—			—			—			—
Balance at June 30	$	569		$	6,428		$	69		$	323		$	5,842		$	2,051		$	—		$	186		$	15,468
	Six months ended June 30, 2014
(Dollars in thousands)	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Residential mortgage			Revolving mortgage			Construction and land development - noncommercial			Consumer and other			Total
Balance at January 1	$	1,320		$	29,906		$	1,354		$	5,275		$	11,802		$	2,959		$	682		$	222		$	53,520
Provision	3,278			(4,571		)	(947		)	(2,065		)	(4,476		)	(2,397		)	(682		)	58			(11,802		)
Charge-offs	(795		)	(8,020		)	—			(2,835		)	(233		)	(481		)	—			(23		)	(12,387		)
Recoveries	—			—			—			—			—			—			—			—			—
Balance at June 30	$	3,803		$	17,315		$	407		$	375		$	7,093		$	81		$	—		$	257		$	29,331

The following tables provide information on non-PCI impaired loans and leases, exclusive of loans and leases evaluated collectively as a homogenous group, as of June 30, 2015 and December 31, 2014 including interest income recognized in the period during which the loans and leases were considered impaired.

	June 30, 2015
(Dollars in thousands)	With a recorded allowance		With no recorded allowance		Total		Unpaid principal balance		Related allowance recorded
Non-PCI impaired loans and leases:
Construction and land development - commercial	$	2,620	$	472	$	3,092	$	8,514	$	445
Commercial mortgage	53,733		29,822		83,555		89,251		7,744
Other commercial real estate	101		300		401		848		101
Commercial and industrial	9,162		3,254		12,416		15,816		1,771
Lease financing	1,177		271		1,448		1,448		146
Other	1,732		—		1,732		1,732		17
Residential mortgage	8,760		7,664		16,424		17,118		1,623
Revolving mortgage	1,458		2,503		3,961		5,403		168
Construction and land development - noncommercial	—		860		860		860		—
Consumer	994		123		1,117		1,194		577
Total non-PCI impaired loans and leases	$	79,737	$	45,269	$	125,006	$	142,184	$	12,592
	December 31, 2014
(Dollars in thousands)	With a recorded allowance		With no recorded allowance		Total		Unpaid principal balance		Related allowance recorded
Non-PCI impaired loans and leases:
Construction and land development - commercial	$	996	$	624	$	1,620	$	6,945	$	92
Commercial mortgage	57,324		25,479		82,803		87,702		8,610
Other commercial real estate	112		472		584		913		112
Commercial and industrial	10,319		721		11,040		12,197		1,743
Lease financing	319		304		623		623		150
Other	2,000		—		2,000		2,000		1,972
Residential mortgage	10,198		4,715		14,913		15,746		1,360
Revolving mortgage	3,675		—		3,675		4,933		1,052
Construction and land development - noncommercial	1,077		263		1,340		1,340		71
Consumer	987		8		995		1,067		555
Total non-PCI impaired loans and leases	$	87,007	$	32,586	$	119,593	$	133,466	$	15,717

The following tables show the average non-PCI impaired loan balance and the interest income recognized by loan class for the three and six months ended June 30, 2015 and June 30, 2014:

	Three months ended June 30, 2015				Three months ended June 30, 2014
(Dollars in thousands)	Average balance		Interest income recognized		Average balance		Interest income recognized
Non-PCI impaired loans and leases:
Construction and land development - commercial	$	3,134	$	35	$	2,592	$	28
Commercial mortgage	86,253		840		87,687		799
Other commercial real estate	403		—		1,981		7
Commercial and industrial	14,088		146		11,208		113
Lease financing	1,463		16		384		4
Other	1,835		—		48		1
Residential mortgage	16,819		135		15,592		107
Revolving mortgage	4,015		23		3,779		29
Construction and land development - noncommercial	779		9		2,061		26
Consumer	1,154		20		986		17
Total non-PCI impaired loans and leases	$	129,943	$	1,224	$	126,318	$	1,131
	Six months ended June 30, 2015				Six months ended June 30, 2014
(Dollars in thousands)	Average balance		Interest income recognized		Average balance		Interest income recognized
Non-PCI impaired loans and leases:
Construction and land development - commercial	$	3,093	$	70	$	1,413	$	31
Commercial mortgage	83,115		1,602		84,359		1,716
Other commercial real estate	477		1		2,731		60
Commercial and industrial	12,220		249		15,690		353
Lease financing	1,527		34		732		21
Other	1,913		—		24		1
Residential mortgage	16,092		260		15,824		284
Revolving mortgage	3,501		39		4,262		76
Construction and land development - noncommercial	719		16		1,946		50
Consumer	1,088		39		2,058		51
Total non-PCI impaired loans and leases	$	123,745	$	2,310	$	129,039	$	2,643

The following tables present the activity in the ALLL for non-PCI loan and lease losses by loan class for the three months ended June 30, 2015 and June 30, 2014:

	Three months ended June 30, 2015
(Dollars in thousands)	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Lease financing			Other			Residential mortgage			Revolving mortgage			Construction and land development - non- commercial			Consumer			Total
Non-PCI Loans
Allowance for loan and lease losses:
Balance at April 1	$	13,108		$	82,038		$	1,031		$	36,954		$	4,293		$	2,981		$	11,328		$	17,529		$	1,056		$	17,616		$	187,934
Provision	88			(1,878		)	(227		)	4,547			408			(1,824		)	1,162			31			74			6,613			8,994
Charge-offs	(221		)	(47		)	(9		)	(2,318		)	(6		)	—			(90		)	(616		)	—			(2,743		)	(6,050		)
Recoveries	104			323			9			209			11			31			305			346			3			630			1,971
Balance at June 30	$	13,079		$	80,436		$	804		$	39,392		$	4,706		$	1,188		$	12,705		$	17,290		$	1,133		$	22,116		$	192,849
	Three months ended June 30, 2014
	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and industrial			Lease financing			Other			Residential mortgage			Revolving mortgage			Construction and land development - non- commercial			Consumer			Total
Balance at April 1	$	12,246		$	94,217		$	945		$	24,021		$	4,183		$	454		$	10,944		$	16,408		$	1,249		$	13,282		$	177,949
Provision	(1,135		)	(1,961		)	(155		)	3,033			176			163			(1,557		)	1,252			(323		)	2,737			2,230
Charge-offs	—			(272		)	—			(531		)	(14		)	(5		)	(234		)	(1,064		)	(23		)	(2,628		)	(4,771		)
Recoveries	5			145			16			386			20			—			148			201			2			584			1,507
Balance at June 30	$	11,116		$	92,129		$	806		$	26,909		$	4,365		$	612		$	9,301		$	16,797		$	905		$	13,975		$	176,915
	Six months ended June 30, 2015
	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and  industrial			Lease financing			Other			Residential mortgage			Revolving mortgage			Construction and land development - non- commercial			Consumer			Total
Balance at January 1	$	11,961		$	85,189		$	732		$	30,727		$	4,286		$	3,184		$	10,661		$	18,650		$	892		$	16,555		$	182,837
Provision	1,191			(5,557		)	231			12,093			419			(2,042		)	1,975			(431		)	192			9,579			17,650
Charge-offs	(239		)	(280		)	(178		)	(4,031		)	(21		)	—			(374		)	(1,409		)	(22		)	(5,526		)	(12,080		)
Recoveries	166			1,084			19			603			22			46			443			480			71			1,508			4,442
Balance at June 30	$	13,079		$	80,436		$	804		$	39,392		$	4,706		$	1,188		$	12,705		$	17,290		$	1,133		$	22,116		$	192,849
	Six months ended June 30, 2014
	Construction and land development - commercial			Commercial mortgage			Other commercial real estate			Commercial and  industrial			Lease financing			Other			Residential mortgage			Revolving mortgage			Construction and land development - non- commercial			Consumer			Total
Balance at January 1	$	10,335		$	100,257		$	1,009		$	22,362		$	4,749		$	190		$	10,511		$	16,239		$	681		$	13,541		$	179,874
Provision	750			(8,940		)	(229		)	5,009			(348		)	435			(948		)	2,605			254			4,012			2,600
Charge-offs	—			(440		)	—			(1,027		)	(72		)	(13		)	(418		)	(2,324		)	(94		)	(4,805		)	(9,193		)
Recoveries	31			1,252			26			565			36			—			156			277			64			1,227			3,634
Balance at June 30	$	11,116		$	92,129		$	806		$	26,909		$	4,365		$	612		$	9,301		$	16,797		$	905		$	13,975		$	176,915

Allocation of Allowance for Loan and Lease Losses

The following tables show the ending balances of PCI loans and leases and related allowance by class of loans as of June 30, 2015 and December 31, 2014:

	June 30, 2015
(Dollars in thousands)	Construction and land development - commercial		Commercial mortgage		Other commercial real estate		Commercial and industrial		Residential mortgage		Revolving mortgage		Construction and land development - noncommercial		Consumer and other		Total
ALLL for loans and leases acquired with deteriorated credit quality	$	569	$	6,428	$	69	$	323	$	5,842	$	2,051	$	—	$	186	$	15,468
Loans and leases acquired with deteriorated credit quality	48,208		611,505		14,353		20,382		358,307		64,340		345		5,799		1,123,239
	December 31, 2014
(Dollars in thousands)	Construction and land development - commercial		Commercial mortgage		Other commercial real estate		Commercial and industrial		Residential mortgage		Revolving mortgage		Construction and land development - noncommercial		Consumer and other		Total
ALLL for loans and leases acquired with deteriorated credit quality	$	150	$	10,135	$	75	$	1,240	$	5,820	$	3,999	$	183	$	27	$	21,629
Loans and leases acquired with deteriorated credit quality	78,079		577,518		40,193		27,254		382,340		74,109		912		6,093		1,186,498

The following tables present the allowance for non-PCI loan losses and the recorded investment in loans, by loan class, based on impairment method as of June 30, 2015 and December 31, 2014:

	June 30, 2015
(Dollars in thousands)	Construction and land development - commercial		Commercial mortgage		Other commercial real estate		Commercial and industrial		Lease financing		Other		Residential mortgage		Revolving mortgage		Construction and land development - non-commercial		Consumer		Total
Allowance for loan and lease losses:
ALLL for loans and leases individually evaluated for impairment	$	445	$	7,744	$	101	$	1,771	$	146	$	17	$	1,623	$	168	$	—	$	577	$	12,592
ALLL for loans and leases collectively evaluated for impairment	12,634		72,692		703		37,621		4,560		1,171		11,082		17,122		1,133		21,539		180,257
Total allowance for loan and lease losses	$	13,079	$	80,436	$	804	$	39,392	$	4,706	$	1,188	$	12,705	$	17,290	$	1,133	$	22,116	$	192,849
Loans and leases:
Loans and leases individually evaluated for impairment	$	3,092	$	83,555	$	401	$	12,416	$	1,448	$	1,732	$	16,424	$	3,961	$	860	$	1,117	$	125,006
Loans and leases collectively evaluated for impairment	544,059		7,778,035		287,813		2,187,175		642,060		336,657		2,580,640		2,525,975		226,420		1,163,106		18,271,940
Total loan and leases	$	547,151	$	7,861,590	$	288,214	$	2,199,591	$	643,508	$	338,389	$	2,597,064	$	2,529,936	$	227,280	$	1,164,223	$	18,396,946
	December 31, 2014
(Dollars in thousands)	Construction and land development - commercial		Commercial mortgage		Other commercial real estate		Commercial and industrial		Lease financing		Other		Residential mortgage		Revolving mortgage		Construction and land development - non-commercial		Consumer		Total
Allowance for loan and lease losses:
ALLL for loans and leases individually evaluated for impairment	$	92	$	8,610	$	112	$	1,743	$	150	$	1,972	$	1,360	$	1,052	$	71	$	555	$	15,717
ALLL for loans and leases collectively evaluated for impairment	11,869		76,579		620		28,984		4,136		1,212		9,301		17,598		821		16,000		167,120
Total allowance for loan and lease losses	$	11,961	$	85,189	$	732	$	30,727	$	4,286	$	3,184	$	10,661	$	18,650	$	892	$	16,555	$	182,837
Loans and leases:
Loans and leases individually evaluated for impairment	$	1,620	$	82,803	$	584	$	11,040	$	623	$	2,000	$	14,913	$	3,675	$	1,340	$	995	$	119,593
Loans and leases collectively evaluated for impairment	491,513		7,470,145		244,291		1,977,894		571,293		351,833		2,478,145		2,558,125		203,676		1,116,459		17,463,374
Total loan and leases	$	493,133	$	7,552,948	$	244,875	$	1,988,934	$	571,916	$	353,833	$	2,493,058	$	2,561,800	$	205,016	$	1,117,454	$	17,582,967

Troubled Debt Restructurings on Financing Receivables

	Three months ended June 30, 2015						Three months ended June 30, 2014
	All restructurings			Restructurings with payment default			All restructurings			Restructurings with payment default
(Dollars in thousands)	Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end
Non-PCI loans and leases
Interest only period provided
Commercial mortgage	2	$	69	—	$	—	2	$	720	1	$	494
Other	—	—		—	—		1	46		—	—
Total interest only	2	69		—	—		3	766		1	494
Loan term extension
Construction and land development - commercial	—	—		—	—		2	191		—	—
Commercial mortgage	2	840		—	—		—	—		—	—
Commercial and industrial	—	—		—	—		4	2,069		—	—
Residential mortgage	—	—		—	—		6	260		—	—
Consumer	—	—		—	—		1	10		—	—
Total loan term extension	2	840		—	—		13	2,530		—	—
Below market interest rate
Construction and land development - commercial	3	251		—	—		—	—		—	—
Commercial mortgage	6	1,510		—	—		3	1,991		5	1,563
Commercial and industrial	4	521		1	142		—	—		—	—
Other commercial real estate	—	—		—	—		1	365		—	—
Residential mortgage	15	646		1	15		10	427		—	—
Consumer	3	40		—	—		—	—		—	—
Total below market interest rate	31	2,968		2	157		14	2,783		5	1,563
Discharged from bankruptcy
Commercial and industrial	1	17		—	—		—	—		—	—
Residential mortgage	2	35		—	—		1	13		—	—
Revolving mortgage	7	203		3	60		2	39		—	—
Consumer	3	45		—	—		2	8		—	—
Total discharged from bankruptcy	13	300		3	60		5	60		—	—
Total non-PCI restructurings	48	$	4,177	5	$	217	35	$	6,139	6	$	2,057

	Six months ended June 30, 2015						Six months ended June 30, 2014
	All restructurings			Restructurings with payment default			All restructurings			Restructurings with payment default
(Dollars in thousands)	Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end		Number of Loans	Recorded investment at period end
Non-PCI loans and leases
Interest only period provided
Commercial mortgage	2	$	69	—	$	—	6	$	2,600	2	$	708
Commercial and industrial	1	1,872		1	1,872		1	196		—	—
Lease financing	—	—		—	—		2	144		—	—
Other	—	—		—	—		1	46		—	—
Total interest only	3	1,941		1	1,872		10	2,986		2	708
Loan term extension
Construction and land development - commercial	1	212		1	212		2	191		—	—
Commercial mortgage	5	1,371		—	—		5	2,584		—	—
Commercial and industrial	—	—		—	—		4	2,069		—	—
Lease financing	—	—		—	—		2	224		—	—
Residential mortgage	—	—		—	—		11	593		—	—
Revolving mortgage	1	9		—	—		—	—		—	—
Consumer	1	5		—	—		3	44		—	—
Total loan term extension	8	1,597		1	212		27	5,705		—	—
Below market interest rate
Construction and land development - commercial	5	296		—	—		10	363		—	—
Commercial mortgage	16	5,226		1	498		15	6,591		6	2,011
Commercial and industrial	7	673		1	142		6	143		—	—
Other commercial real estate	—	—		—	—		1	365		—	—
Residential mortgage	42	1,698		3	58		18	820		1	140
Revolving mortgage	3	63		—	—		5	274		—	—
Construction & land development - noncommercial	2	253		—	—		8	1,248		—	—
Consumer	7	85		—	—		—	—		—	—
Other	1	1,732		—	—		—	—		—	—
Total below market interest rate	83	10,026		5	698		63	9,804		7	2,151
Discharged from bankruptcy
Commercial mortgage	1	622		—	—		1	983		—	—
Commercial and industrial	1	17		—	—		—	—		—	—
Residential mortgage	8	434		—	—		8	649		2	85
Revolving mortgage	16	632		5	158		7	442		—	—
Construction & land development - noncommercial	—	—		—	—		1	62		—	—
Consumer	4	48		—	—		3	26		—	—
Total discharged from bankruptcy	30	1,753		5	158		20	2,162		2	85
Total non-PCI restructurings	124	$	15,317	12	$	2,940	120	$	20,657	11	$	2,944

	Three months ended June 30, 2015						Three months ended June 30, 2014
	All restructurings			Restructurings with payment default			All restructurings			Restructurings with payment default
(Dollars in thousands)	Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end
PCI loans
Loan term extension
Residential mortgage	—	$	—	—	$	—	1	$	53	1	$	53
Total loan term extension	—	—		—	—		1	53		1	53
Below market interest rate
Construction and land development - commercial	—	—		—	—		1	273		—	—
Commercial mortgage	—	—		—	—		5	1,811		—	—
Commercial and industrial	—	—		—	—		1	23		—	—
Residential mortgage	1	60		—	—		23	2,963		1	23
Total below market interest rate	1	60		—	—		30	5,070		1	23
Discharged from bankruptcy
Residential mortgage	—	—		—	—		26	1,828		2	94
Total discharged from bankruptcy	—	—		—	—		26	1,828		2	94
Total PCI restructurings	1	$	60	—	$	—	31	$	5,123	2	$	76

	Six months ended June 30, 2015						Six months ended June 30, 2014
	All restructurings			Restructurings with payment default			All restructurings			Restructurings with payment default
(Dollars in thousands)	Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end		Number of loans	Recorded investment at period end
PCI loans
Interest only period provided
Commercial mortgage	—	$	—	—	$	—	2	$	—	2	$	44
Total interest only	—	—		—	—		2	—		2	44
Loan term extension
Construction and land development - commercial	—	—		—	—		1	276		—	—
Residential mortgage	—	—		—	—		1	53		1	53
Total loan term extension	—	—		—	—		2	329		1	53
Below market interest rate
Construction and land development - commercial	—	—		—	—		2	308		—	—
Commercial mortgage	—	—		—	—		9	5,060		1	39
Commercial and industrial	—	—		—	—		1	23		—	—
Residential mortgage	8	545		—	—		25	3,066		2	23
Total below market interest rate	8	545		—	—		37	8,457		3	62
Discharged from bankruptcy
Residential mortgage	1	78		—	—		26	1,828		2	94
Total discharged from bankruptcy	1	78		—	—		26	1,828		2	94
Total PCI restructurings	9	$	623	—	$	—	67	$	10,614	8	$	253

The following table provides a summary of total TDRs by accrual status.

	June 30, 2015						December 31, 2014
(Dollars in thousands)	Accruing		Nonaccruing		Total		Accruing		Nonaccruing		Total
Commercial loans
Construction and land development - commercial	$	3,500	$	633	$	4,133	$	2,591	$	446	$	3,037
Commercial mortgage	83,059		12,588		95,647		92,184		8,937		101,121
Other commercial real estate	1,898		401		2,299		2,374		449		2,823
Commercial and industrial	8,689		2,970		11,659		9,864		664		10,528
Lease	1,122		325		1,447		258		365		623
Other	—		—		—		34		—		34
Total commercial TDRs	98,268		16,917		115,185		107,305		10,861		118,166
Noncommercial
Residential mortgage	23,268		5,663		28,931		22,597		4,655		27,252
Revolving mortgage	2,412		1,361		3,773		3,675		—		3,675
Construction and land development - noncommercial	860		—		860		1,391		—		1,391
Consumer and other	2,774		54		2,828		995		—		995
Total noncommercial TDRs	29,314		7,078		36,392		28,658		4,655		33,313
Total TDRs	$	127,582	$	23,995	$	151,577	$	135,963	$	15,516	$	151,479

The majority of TDRs are included in the special mention, substandard or doubtful grading categories. When a restructured loan subsequently defaults, it is evaluated and downgraded if appropriate. The more severely graded the loan, the lower the estimated expected cash flows and the greater the allowance recorded. Further, TDRs over $500,000 and graded substandard or lower are evaluated individually for impairment through a review of collateral values.

The following table shows the accrual status of non-PCI and PCI TDRs.

(Dollars in thousands)	June 30, 2015		December 31, 2014
Accruing TDRs:
PCI	$	41,355	$	44,647
Non-PCI	86,227		91,316
Total accruing TDRs	127,582		135,963
Nonaccruing TDRs:
PCI	1,975		2,225
Non-PCI	22,020		13,291
Total nonaccruing TDRs	23,995		15,516
All TDRs:
PCI	43,330		46,872
Non-PCI	108,247		104,607
Total TDRs	$	151,577	$	151,479

XML

Accumulated Other Comprehensive Loss (Schedule Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss), before Tax		$ (83,716)		$ (83,716)			$ (86,690)
Deferred tax expense (benefit)		(32,557)		(32,557)			(33,709)
Accumulated other comprehensive income (loss), net of tax		(51,159)	$ 4,057	(51,159)	$ 4,057	$ (35,411)	(52,981)	$ (16,594)	$ (25,268)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		(1,691)	(976)	(305)	(1,953)
Reclassification adjustment for losses included in income before income taxes		2,887	1,598	5,773	3,197
Unrealized Gains on Investment Securities Available for Sale
Accumulated Other Comprehensive Income (Loss), before Tax		4,259		4,259			8,343
Deferred tax expense (benefit)		1,655		1,655			3,245
Accumulated other comprehensive income (loss), net of tax	[1]	2,604	16,490	2,604	16,490	20,551	5,098	(2,835)	(10,091)
Income taxes		(74)		(2,051)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	[1]	73	0	3,222	0
Funded Status of Defined Benefit Plan
Accumulated Other Comprehensive Income (Loss), before Tax		(84,923)		(84,923)			(90,696)
Deferred tax expense (benefit)		(33,035)		(33,035)			(35,281)
Accumulated other comprehensive income (loss), net of tax	[1]	(51,888)	(8,790)	(51,888)	(8,790)	(53,652)	(55,415)	(9,766)	(10,743)
Income taxes		1,123	622	2,246	1,244
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	[1]	(1,764)	(976)	(3,527)	(1,953)
Employee Benefits, prior service costs		(52)	(52)	(105)	(105)
Reclassification adjustment for losses included in income before income taxes		(2,835)	(1,546)	(5,668)	(3,092)
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, before Tax		(2,887)	(1,598)	(5,773)	(3,197)
Unrealized Loss on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), before Tax		(3,052)		(3,052)			(4,337)
Deferred tax expense (benefit)		(1,177)		(1,177)			(1,673)
Accumulated other comprehensive income (loss), net of tax	[1]	(1,875)	(3,643)	(1,875)	(3,643)	$ (2,310)	$ (2,664)	$ (3,993)	$ (4,434)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	[1]	$ 0	$ 0	$ 0	$ 0

[1] All amounts are net of tax.

XML

Label	Element	Value
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	$ 26,686
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	44,522
Provision for Loan and Lease Losses	us-gaap_ProvisionForLoanAndLeaseLosses	(7,299)
Provision for Loan and Lease Losses	us-gaap_ProvisionForLoanAndLeaseLosses	$ 7,719

XML

Business Combinations (Loans Acquired) (Details) - USD ($) $ in Thousands	Feb. 13, 2015	Jan. 01, 2014
Business Acquisition [Line Items]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value	$ 154,496	$ 316,327

XML

Commitments and Contingencies

6 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

To meet the financing needs of its customers, BancShares and its subsidiaries have financial instruments with off-balance sheet risk. These financial instruments include commitments to extend credit, standby letters of credit and recourse obligations on mortgage loans sold. These instruments involve elements of credit, interest rate or liquidity risk.

Commitments to extend credit are legally binding agreements to lend to customers. Commitments generally have fixed expiration dates or other termination clauses and may require payment of fees. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future liquidity requirements. Established credit standards control the credit risk exposure associated with these commitments. In some cases, BancShares requires that collateral be pledged to secure the commitment, including cash deposits, securities and other assets. At June 30, 2015, BancShares had unused commitments totaling $7.72 billion, compared to $7.19 billion at December 31, 2014. Total unfunded commitments relating to investments in affordable housing projects totaled $32.9 million and $16.8 million at June 30, 2015 and December 31, 2014, respectively, and are included in other liabilities on BancShares' Consolidated Balance Sheets.

Standby letters of credit are commitments guaranteeing performance of a customer to a third party. Those commitments are primarily issued to support public and private borrowing arrangements. To mitigate its risk, BancShares’ follows its credit policies in the issuance of standby letters of credit. At June 30, 2015 and December 31, 2014, BancShares had standby letters of credit amounting to $77.6 million and $77.4 million, respectively. The credit risk related to the issuance of these letters of credit is essentially the same as that involved in extending loans to clients and, therefore, these letters of credit are collateralized when necessary.

Pursuant to standard representations and warranties relating to residential mortgage loan sales, contingent obligations exist for various events that may occur following the loan sale. If underwriting or documentation deficiencies are discovered at any point in the life of the loan or if the loan becomes nonperforming within 120 days of its sale, the investor may require BancShares to repurchase the loan or to repay a portion of the sale proceeds. Other liabilities included reserves of $3.1 million and $3.2 million as of June 30, 2015 and December 31, 2014, respectively, for estimated losses arising from these standard representation and warranty provisions.

BancShares has recorded a receivable from the FDIC totaling $5.8 million and $28.7 million as of June 30, 2015 and December 31, 2014, respectively, for the expected reimbursement of losses on assets covered under the various loss share agreements. These loss share agreements impose certain obligations on us that, in the event of noncompliance, could result in the delay or disallowance of some or all of our rights under those agreements. Requests for reimbursement are subject to FDIC review and may be delayed or disallowed for noncompliance. The loss share agreements are subject to interpretation by both the FDIC and BancShares, and disagreements may arise regarding coverage of losses, expenses and contingencies.

The loss share agreements for five FDIC-assisted transactions include provisions related to contingent payments that may be owed to the FDIC at the termination of the agreements (clawback liability).The clawback liability represents a payment by BancShares to the FDIC if actual cumulative losses on acquired covered assets are lower than the cumulative losses originally estimated by the FDIC at the time of acquisition. The clawback liability is estimated by discounting estimated future payments and is recorded in the Consolidated Balance Sheets as a payable to the FDIC under the relevant loss share agreements. As of June 30, 2015 and December 31, 2014, the estimated clawback liability was $122.0 million and $116.5 million, respectively.

BancShares and various subsidiaries have been named as defendants in legal actions arising from their normal business activities in which damages in various amounts are claimed. BancShares is also exposed to litigation risk relating to the prior business activities of banks from which assets were acquired and liabilities assumed in the various FDIC-assisted transactions. Although the amount of any ultimate liability with respect to such matters cannot be determined, in the opinion of management, any such liability will not have a material effect on BancShares’ consolidated financial statements.