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Loans (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Non-Covered and Covered Loans

Loans consist of the following, segregated into non-covered and covered loans, for the periods indicated:


	December 31, 2014
	Non-covered loans
(Dollars in thousands)	Legacy Loans		Acquired Loans		Covered Loans(1)		Total
Commercial loans:
Real estate	$	3,718,058	$	497,949	$	189,126	$	4,405,133
Business		3,284,140		93,549		31,260		3,408,949

		7,002,198		591,498		220,386		7,814,082

Residential mortgage loans:
Residential 1-4 family		495,638		424,579		128,024		1,048,241
Construction / Owner Occupied		32,056		—		—		32,056

		527,694		424,579		128,024		1,080,297

Consumer and other loans:
Home equity		1,290,976		217,699		92,430		1,601,105
Indirect automobile		396,766		392		—		397,158
Other		451,080		93,618		3,704		548,402

		2,138,822		311,709		96,134		2,546,665

Total	$	9,668,714	$	1,327,786	$	444,544	$	11,441,044

	December 31, 2013
	Non-covered loans
(Dollars in thousands)	Legacy Loans		Acquired Loans		Covered Loans		Total
Commercial loans:
Real estate	$	3,134,904	$	345,069	$	387,332	$	3,867,305
Business		2,906,051		53,037		37,025		2,996,113

		6,040,955		398,106		424,357		6,863,418

Residential mortgage loans:
Residential 1-4 family		404,922		18,135		154,025		577,082
Construction / Owner Occupied		9,450		—		—		9,450

		414,372		18,135		154,025		586,532

Consumer and other loans:
Home equity		1,101,227		53,443		137,122		1,291,792
Indirect automobile		373,383		1,853		—		375,236
Other		358,384		12,368		4,289		375,041

		1,832,994		67,664		141,411		2,042,069

Total	$	8,288,321	$	483,905	$	719,793	$	9,492,019

(1)	Included as covered loans at December 31, 2014 is $174.7 million of assets whose reimbursable loss periods ended as of January 1, 2015.

Schedule of Legacy Loans on Nonaccrual Status

The following table provides the recorded investment of legacy loans on non-accrual status at December 31:


(Dollars in thousands)	2014		2013
Commercial real estate - Construction	$	69	$	1,803
Commercial real estate - Other		6,883		7,648
Commercial business		3,028		15,020

Residential mortgage - Prime		10,767		8,611
Residential mortgage - Subprime		3,595		1,626

Consumer - Home equity		7,404		6,808
Consumer - Indirect automobile		1,419		1,275
Consumer - Credit card		1,032		411
Consumer - Other		773		485

Total	$	34,970	$	43,687

Schedule of Carrying Amount of Acquired Covered Loans

The carrying amount of the acquired covered loans at December 31, 2014 and 2013 consisted of loans determined to be impaired at the acquisition date, which are accounted for in accordance with ASC Topic 310-30, and loans that were considered to be performing at the acquisition date, accounted for by analogy to ASC Topic 310-30, as detailed in the following tables.


	December 31, 2014
(Dollars in thousands)	Acquired Impaired Loans		Acquired Performing Loans		Total Covered Loans
Commercial loans:
Real estate	$	1,253	$	187,873	$	189,126
Business		—		31,260		31,260

		1,253		219,133		220,386

Residential mortgage loans:
Residential 1-4 family		22,918		105,106		128,024
Construction / Owner Occupied		—		—		—

		22,918		105,106		128,024

Consumer and other loans:
Home equity		12,872		79,558		92,430
Indirect automobile		—		—		—
Other		489		3,215		3,704

		13,361		82,773		96,134

Total	$	37,532	$	407,012	$	444,544

	December 31, 2013
(Dollars in thousands)	Acquired Impaired Loans		Acquired Performing Loans		Total Covered Loans
Commercial loans:
Real estate	$	14,904	$	372,428	$	387,332
Business		—		37,025		37,025

		14,904		409,453		424,357

Residential mortgage loans:
Residential 1-4 family		28,223		125,802		154,025
Construction / Owner Occupied		—		—		—

		28,223		125,802		154,025

Consumer and other loans:
Home equity		21,768		115,354		137,122
Indirect automobile		—		—		—
Other		1,182		3,107		4,289

		22,950		118,461		141,411

Total	$	66,077	$	653,716	$	719,793

Schedule of Carrying Amount of Loans Acquired

As discussed in Note 4, during 2014, the Company acquired loans of $86.5 million from Trust One-Memphis, $700.5 million from Teche, and $299.3 million from First Private. Of the total $1.1 billion of loans acquired in 2014, $1.0 billion were determined to have no evidence of deteriorated credit quality and are accounted for under ASC Topics 310-10 and 310-20. The remaining $66.7 million were determined to have deteriorated credit quality under ASC Topic 310-30. The tables below show the balances acquired during 2014 for these two subsections of the portfolio as of the acquisition date.


(Dollars in thousands)
Contractually required principal and interest at acquisition	$	1,224,635
Expected losses and foregone interest		(20,790	)

Cash flows expected to be collected at acquisition		1,203,845

Fair value of acquired loans at acquisition	$	1,014,903


(Dollars in thousands)	Acquired Impaired Loans			Acquired Performing Impaired Loans			Total Acquired Loans
Contractually required principal and interest at acquisition	$	71,871		$	15,130		$	87,001
Nonaccretable difference (expected losses and foregone interest)		(6,117	)		(361	)		(6,478	)

Cash flows expected to be collected at acquisition		65,754			14,769			80,523
Accretable yield		(12,312	)		(1,536	)		(13,848	)

Basis in acquired loans at acquisition	$	53,442		$	13,233		$	66,675

Summary of Changes in Accretable Yields of Acquired Loans

The following is a summary of changes in the accretable difference for loans accounted for under ASC 310-30 of acquired impaired loans during the years ended December 31:


	2014
(Dollars in thousands)	Acquired Impaired Loans			Acquired Performing Impaired Loans			Total Acquired Loans
Balance at beginning of period	$	78,349		$	276,543		$	354,892
Acquisition		12,312			1,536			13,848
Transfers from nonaccretable difference to accretable yield		4,405			21,439			25,844
Accretion		(15,095	)		(88,138	)		(103,233	)
Changes in expected cash flows not affecting nonaccretable differences ⁽¹⁾		(5,722	)		2,022			(3,700	)

Balance at end of period	$	74,249		$	213,402		$	287,651

	2013
	Acquired Impaired Loans			Acquired Performing Impaired Loans			Total Acquired Loans
Balance at beginning of period	$	76,623		$	279,770		$	356,393
Transfers from nonaccretable difference to accretable yield		7,849			42,894			50,743
Accretion		(16,273	)		(163,183	)		(179,456	)
Changes in expected cash flows not affecting nonaccretable differences ⁽¹⁾		10,150			117,062			127,212

Balance at end of period	$	78,349		$	276,543		$	354,892

	2012
	Acquired Impaired Loans			Acquired Performing Impaired Loans			Total Acquired Loans
Balance at beginning of period	$	83,834		$	386,977		$	470,811
Acquisition		1,190			22,899			24,089
Transfers from nonaccretable difference to accretable yield		(11,816	)		(47,842	)		(59,658	)
Accretion		(30,417	)		(218,892	)		(249,309	)
Changes in expected cash flows not affecting nonaccretable differences ⁽¹⁾		33,832			136,628			170,460

Balance at end of period	$	76,623		$	279,770		$	356,393

⁽¹⁾	Includes changes in cash flows expected to be collected due to the impact of changes in actual or expected timing of liquidation events, modifications, changes in interest rates and changes in prepayment assumptions.

Schedule of Carrying Amount of Loans Acquired under ASC Topic 310-10

changes in interest rates and changes in prepayment assumptions.

Schedule of Troubled Debt Restructurings


	December 31, 2014								December 31, 2013
	Accruing Loans								Accruing Loans
(Dollars in thousands)	Current		Past Due > 30 days		Nonaccrual TDRs		Total TDRs		Current		Past Due > 30 days		Nonaccrual TDRs		Total TDRs
Commercial real estate - Construction	$	—	$	—	$	—	$	—	$	—		—		—		—
Commercial real estate - Other		355		—		—		355		400		—		4,452		4,852
Commercial business		1,075		—		1,971		3,046		976		—		13,791		14,767

Residential mortgage - Prime		—		—		—		—		—		—		—		—
Residential mortgage - Subprime		—		—		—		—		—		—		—		—

Consumer - Home equity		—		—		238		238		—		—		258		258
Consumer - Indirect automobile		—		—		—		—		—		—		—		—
Consumer - Credit card		—		—		—		—		—		—		—		—
Consumer - Other		—		—		—		—		—		—		—		—

Total	$	1,430	$	—	$	2,209	$	3,639	$	1,376	$	—	$	18,501	$	19,877

Schedule of Modified TDRs

The following table provides information on how the TDRs were modified during years ended December 31:


(Dollars in thousands)	2014		2013
Extended maturities	$	—	$	—
Interest rate adjustment		—		—
Maturity and interest rate adjustment		—		—
Movement to or extension of interest-rate only payments		—		—
Forbearance		—		12,975
Other concession(s) ⁽¹⁾		—		1,587

Total	$	—	$	14,562

⁽¹⁾	Other concessions include concessions or a combination of concessions that do not consist of maturity extensions, interest rate adjustments, forbearance or covenant modifications.

TDRs [Member]

Schedule of Subsequently Defaulted TDRs

Information about the Company’s TDRs occurring in these periods is presented in the following table.


	December 31, 2014						December 31, 2013
(In thousands, except number of loans)	Number of Loans		Pre-modification Outstanding Recorded Investment		Post-modification Outstanding Recorded Investment ⁽¹⁾		Number of Loans		Pre-modification Outstanding Recorded Investment		Post-modification Outstanding Recorded Investment ⁽¹⁾
Commercial business		—		—		—		9		14,835		12,429

Total		—	$	—	$	—		9	$	14,835	$	12,429

⁽¹⁾	Recorded investment includes any allowance for credit losses recorded on the TDRs at the dates indicated.

Information detailing non-covered TDRs that subsequently defaulted during the previous twelve months is presented in the following table. The Company has defined a default as any loan with a loan payment that is currently past due greater than 30 days, or was past due greater than 30 days at any point during the previous twelve months, or since the date of modification, whichever is shorter.


	December 31, 2014				December 31, 2013
(In thousands, except number of loans)	Number of Loans		Recorded Investment		Number of Loans		Recorded Investment
Commercial real estate		30	$	—		35	$	4,452
Commercial business		9		1,600		17		12,808

Residential mortgage - Prime		—		—		—		—

Consumer - Home Equity		—		—		1		45
Consumer - Indirect automobile		—		—		—		—
Consumer - Credit card		—		—		—		—
Consumer - Other		1		—		1		—

Total		40	$	1,600		54	$	17,305

Non-Covered Legacy Loans [Member]

Schedule of Aging of Non-Covered Loans

The following tables provide an analysis of the aging of non-covered loans as of December 31, 2014 and 2013.


	December 31, 2014
	Legacy loans
	Past Due ⁽¹⁾								Current		Total Legacy Loans, Net of Unearned Income		Recorded Investment > 90 days and Accruing
(Dollars in thousands)	30-59 days		60-89 days		> 90 days		Total		Current		Total Legacy Loans, Net of Unearned Income		Recorded Investment > 90 days and Accruing
Commercial real estate - Construction	$	507	$	—	$	69	$	576	$	483,663	$	484,239	$	—
Commercial real estate - Other		11,799		148		6,883		18,830		3,214,989		3,233,819		—
Commercial business		1,589		1,860		3,228		6,677		3,277,463		3,284,140		200

Residential mortgage - Prime		1,389		2,616		11,305		15,310		392,900		408,210		538
Residential mortgage - Subprime		—		—		3,595		3,595		115,889		119,484		—

Consumer - Home equity		4,096		595		7,420		12,111		1,278,865		1,290,976		16
Consumer - Indirect automobile		2,447		396		1,419		4,262		392,504		396,766		—
Consumer - Credit card		253		163		1,032		1,448		71,297		72,745		—
Consumer - Other		1,285		424		773		2,482		375,853		378,335		—

Total	$	23,365	$	6,202	$	35,724	$	65,291	$	9,603,423	$	9,668,714	$	754

	December 31, 2013
	Legacy loans
	Past Due ⁽¹⁾								Current		Total Legacy Loans, Net of Unearned Income		Recorded Investment > 90 days and Accruing
(Dollars in thousands)	30-59 days		60-89 days		> 90 days		Total		Current		Total Legacy Loans, Net of Unearned Income		Recorded Investment > 90 days and Accruing
Commercial real estate - Construction	$	—	$	—	$	1,803	$	1,803	$	381,292	$	383,095	$	—
Commercial real estate - Other		6,098		5,630		7,650		19,378		2,732,431		2,751,809		2
Commercial business		2,117		423		15,020		17,560		2,888,491		2,906,051		—

Residential mortgage - Prime		1,104		852		9,684		11,640		286,167		297,807		1,073
Residential mortgage - Subprime		—		—		1,626		1,626		114,939		116,565		—

Consumer - Home equity		1,956		569		6,808		9,333		1,091,894		1,101,227		—
Consumer - Indirect automobile		1,427		293		1,275		2,995		370,388		373,383		—
Consumer - Credit card		266		92		411		769		62,873		63,642		—
Consumer - Other		458		106		485		1,049		293,693		294,742		—

Total	$	13,426	$	7,965	$	44,762	$	66,153	$	8,222,168	$	8,288,321	$	1,075

⁽¹⁾	Past due loans greater than 90 days include all loans on nonaccrual status, regardless of past due status, as of the period indicated. Nonaccrual loans are presented separately in the “Nonaccrual Loans” section below.

Non-Covered Acquired Loans [Member]

Schedule of Aging of Non-Covered Loans

	December 31, 2014
	Non-covered acquired loans
	Past Due ⁽¹⁾								Current		Discount/ Premium			Total Non-covered Acquired Loans, Net of Unearned Income		Recorded Investment > 90 days and Accruing
(Dollars in thousands)	30-59 days		60-89 days		> 90 days		Total		Current		Discount/ Premium					Recorded Investment > 90 days and Accruing
Commercial real estate - Construction	$	2,740	$	57	$	1,284	$	4,081	$	26,667	$	(1,170	)	$	29,578	$	1,284
Commercial real estate - Other		4,419		840		26,480		31,739		475,751		(39,119	)		468,371		26,376
Commercial business		2,106		70		1,635		3,811		94,962		(5,224	)		93,549		1,635

Residential mortgage - Prime		152		2,367		9,339		11,858		418,552		(5,831	)		424,579		8,087

Consumer - Home equity		649		385		8,774		9,808		216,310		(8,419	)		217,699		8,383
Consumer - Indirect automobile		13		17		9		39		393		(40	)		392		9
Consumer - Other		1,458		113		1,949		3,520		94,315		(4,217	)		93,618		1,829

Total	$	11,537	$	3,849	$	49,470	$	64,856	$	1,326,950	$	(64,020	)	$	1,327,786	$	47,603

	December 31, 2013
	Non-covered acquired loans
	Past Due ⁽¹⁾								Current		Discount/ Premium			Total Non-covered Acquired Loans, Net of Unearned Income		Recorded Investment > 90 days and Accruing
(Dollars in thousands)	30-59 days		60-89 days		> 90 days		Total		Current		Discount/ Premium					Recorded Investment > 90 days and Accruing
Commercial real estate - Construction	$	388	$	—	$	2,542	$	2,930	$	19,833	$	(2,532	)	$	20,231	$	2,542
Commercial real estate - Other		1,798		1,963		27,967		31,728		345,286		(52,176	)		324,838		27,967
Commercial business		544		—		1,218		1,762		54,189		(2,914	)		53,037		1,218

Residential mortgage - Prime		—		—		226		226		18,796		(887	)		18,135		226

Consumer - Home equity		313		516		4,242		5,071		53,995		(5,623	)		53,443		4,242
Consumer - Indirect automobile		33		—		95		128		1,725		—			1,853		95
Consumer - Other		175		101		975		1,251		12,598		(1,481	)		12,368		975

Total	$	3,251	$	2,580	$	37,265	$	43,096	$	506,422	$	(65,613	)	$	483,905	$	37,265

⁽¹⁾	Past due information presents acquired loans at the gross loan balance, prior to application of discounts.