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Loans (Tables)
 9 Months Ended
Sep. 30, 2017
Receivables [Abstract]  
Schedule of Non-Covered and Covered Loans
Loans consist of the following, segregated into legacy and acquired loans, for the periods indicated:
 
September 30, 2017
(Dollars in thousands)
Legacy Loans
 
Acquired Loans
 
Total
Commercial loans:
 
 
 
 
 
Commercial real estate- construction
$
1,053,245

 
$
244,726

 
$
1,297,971

Commercial real estate- owner-occupied
1,807,670

 
606,836

 
2,414,506

Commercial real estate- non-owner-occupied
3,326,556

 
1,690,592

 
5,017,148

Commercial and industrial
3,497,374

 
945,711

 
4,443,085

Energy-related
610,610

 
1,003

 
611,613

 
10,295,455

 
3,488,868

 
13,784,323

 
 
 
 
 
 
Residential mortgage loans:
1,041,660

 
1,983,310

 
3,024,970

 


 


 


Consumer and other loans:
 
 
 
 
 
Home equity
1,885,226

 
435,007

 
2,320,233

Indirect automobile
76,165

 
24

 
76,189

Other
535,310

 
54,060

 
589,370

 
2,496,701

 
489,091

 
2,985,792

Total
$
13,833,816

 
$
5,961,269

 
$
19,795,085

 
December 31, 2016
(Dollars in thousands)
Legacy Loans
 
Acquired Loans
 
Total
Commercial loans:
 
 
 
 
 
Commercial real estate- construction
$
740,761

 
$
61,408

 
$
802,169

Commercial real estate- owner-occupied
1,784,624

 
450,012

 
2,234,636

Commercial real estate- non-owner-occupied
3,097,929

 
667,532

 
3,765,461

Commercial and industrial
3,194,796

 
348,326

 
3,543,122

Energy-related
559,289

 
1,904

 
561,193

 
9,377,399

 
1,529,182

 
10,906,581

 
 
 
 
 
 
Residential mortgage loans:
854,216

 
413,184

 
1,267,400

 


 


 


Consumer and other loans:
 
 
 
 
 
Home equity
1,783,421

 
372,505

 
2,155,926

Indirect automobile
131,048

 
4

 
131,052

Other
548,840

 
55,172

 
604,012

 
2,463,309

 
427,681

 
2,890,990

Total
$
12,694,924

 
$
2,370,047

 
$
15,064,971
Schedule of Aging of Loans
The following tables provide an analysis of the aging of loans as of September 30, 2017 and December 31, 2016. Due to the difference in accounting for acquired loans, the tables below further segregate the Company’s loans between loans originated, or renewed and underwritten by the Company ("legacy loans") and acquired loans. Loan premiums/discounts in the tables below include preliminary discounts recorded on acquired Sabadell United loans, which are subject to change upon receipt of final fair value estimates during the measurement period.
 
September 30, 2017
 
Legacy loans
 
Accruing
 
 
 
 
(Dollars in thousands)
Current or less than 30 days past due
 
30-59 days
 
60-89 days
 
> 90 days
 
Total Past Due
 
Non-accrual Loans
 
Total Loans
Commercial real estate - construction
$
1,051,124

 
$
690

 
$
—

 
$
—

 
$
690

 
$
1,431

 
$
1,053,245

Commercial real estate - owner-occupied
1,792,517

 
4,694

 
131

 
—

 
4,825

 
10,328

 
1,807,670

Commercial real estate- non-owner-occupied
3,319,997

 
289

 
1,063

 
136

 
1,488

 
5,071

 
3,326,556

Commercial and industrial
3,464,455

 
4,797

 
1,584

 
1,373

 
7,754

 
25,165

 
3,497,374

Energy-related
546,006

 
—

 
2,175

 
—

 
2,175

 
62,429

 
610,610

Residential mortgage
1,023,475

 
4,030

 
1,785

 
464

 
6,279

 
11,906

 
1,041,660

Consumer - home equity
1,866,137

 
6,184

 
2,202

 
—

 
8,386

 
10,703

 
1,885,226

Consumer - indirect automobile
73,499

 
1,683

 
262

 
12

 
1,957

 
709

 
76,165

Consumer - credit card
87,109

 
256

 
144

 
—

 
400

 
445

 
87,954

Consumer - other
442,059

 
3,515

 
647

 
6

 
4,168

 
1,129

 
447,356

Total
$
13,666,378

 
$
26,138

 
$
9,993

 
$
1,991

 
$
38,122

 
$
129,316

 
$
13,833,816


 
December 31, 2016
 
Legacy loans
 
Accruing
 
 
 
 
(Dollars in thousands)
Current or less than 30 days past due
 
30-59 days
 
60-89 days
 
> 90 days
 
Total Past Due
 
Non-accrual Loans
 
Total Loans
Commercial real estate - construction
$
740,761

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
740,761

Commercial real estate - owner-occupied
1,775,695

 
959

 
127

 
—

 
1,086

 
7,843

 
1,784,624

Commercial real estate- non-owner-occupied
3,088,207

 
902

 
224

 
—

 
1,126

 
8,596

 
3,097,929

Commercial and industrial
3,158,700

 
3,999

 
870

 
—

 
4,869

 
31,227

 
3,194,796

Energy-related
407,434

 
—

 
1,526

 
—

 
1,526

 
150,329

 
559,289

Residential mortgage
836,509

 
2,012

 
1,577

 
1,104

 
4,693

 
13,014

 
854,216

Consumer - home equity
1,768,763

 
5,249

 
1,430

 
—

 
6,679

 
7,979

 
1,783,421

Consumer - indirect automobile
127,054

 
2,551

 
405

 
—

 
2,956

 
1,038

 
131,048

Consumer - credit card
81,602

 
199

 
99

 
—

 
298

 
624

 
82,524

Consumer - other
462,650

 
2,155

 
618

 
—

 
2,773

 
893

 
466,316

Total
$
12,447,375

 
$
18,026

 
$
6,876

 
$
1,104

 
$
26,006

 
$
221,543

 
$
12,694,924





 
September 30, 2017
 
Acquired loans (1) (2)
 
Accruing
 
 
 
 
 
 
 
 
(Dollars in thousands)
Current or Less Than 30 days past due
 
30-59 days
 
60-89 days
 
> 90 days
 
Total Past Due
 
Non-accrual Loans
 
Discount/Premium
 
Acquired Impaired Loans
 
Total Loans
Commercial real estate - construction
$
212,655

 
$
3,405

 
$
—

 
$
—

 
$
3,405

 
$
1,207

 
$
(8,599
)
 
$
36,058

 
$
244,726

Commercial real estate - owner-occupied
498,667

 
606

 
—

 
—

 
606

 
5,974

 
(4,775
)
 
106,364

 
606,836

Commercial real estate- non-owner-occupied
1,615,204

 
9,847

 
936

 
—

 
10,783

 
3,869

 
(38,537
)
 
99,273

 
1,690,592

Commercial and industrial
911,877

 
469

 
—

 
2

 
471

 
2,464

 
(642
)
 
31,541

 
945,711

Energy-related
855

 
149

 
—

 
—

 
149

 
—

 
(1
)
 
—

 
1,003

Residential mortgage
1,899,229

 
3,663

 
333

 
200

 
4,196

 
1,373

 
(50,868
)
 
129,380

 
1,983,310

Consumer - home equity
360,526

 
2,142

 
393

 
—

 
2,535

 
1,024

 
(3,822
)
 
74,744

 
435,007

Consumer - indirect automobile
18

 
—

 
—

 
—

 
—

 
—

 
—

 
6

 
24

Consumer - credit card
—

 
—

 
—

 
—

 
—

 
—

 
—

 
501

 
501

Consumer - other
49,438

 
596

 
103

 
—

 
699

 
195

 
(791
)
 
4,018

 
53,559

Total
$
5,548,469

 
$
20,877

 
$
1,765

 
$
202

 
$
22,844

 
$
16,106

 
$
(108,035
)
 
$
481,885

 
$
5,961,269


 
December 31, 2016
 
Acquired loans (1) (2)
 
Accruing
 
 
 
 
 
 
 
 
(Dollars in thousands)
Current or Less Than 30 days past due
 
30-59 days
 
60-89 days
 
> 90 days
 
Total Past Due
 
Non-accrual Loans
 
Discount/Premium
 
Acquired Impaired Loans
 
Total Loans
Commercial real estate - construction
$
26,714

 
$
—

 
$
—

 
$
—

 
$
—

 
$
1,946

 
$
(243
)
 
$
32,991

 
$
61,408

Commercial real estate - owner-occupied
326,761

 
493

 
55

 
—

 
548

 
166

 
(3,084
)
 
125,621

 
450,012

Commercial real estate- non-owner-occupied
544,731

 
223

 
—

 
32

 
255

 
1,055

 
(565
)
 
122,056

 
667,532

Commercial and industrial
314,990

 
73

 
51

 
—

 
124

 
1,317

 
(837
)
 
32,732

 
348,326

Energy-related
1,910

 
—

 
—

 
—

 
—

 
—

 
(6
)
 
—

 
1,904

Residential mortgage
290,031

 
328

 
989

 
—

 
1,317

 
719

 
(1,835
)
 
122,952

 
413,184

Consumer - home equity
286,411

 
1,078

 
189

 
250

 
1,517

 
1,395

 
(5,237
)
 
88,419

 
372,505

Consumer - indirect automobile
—

 
—

 
—

 
—

 
—

 
—

 
—

 
4

 
4

Consumer - credit card
468

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
468

Consumer - other
49,449

 
391

 
97

 
—

 
488

 
360

 
(1,004
)
 
5,411

 
54,704

Total
$
1,841,465

 
$
2,586

 
$
1,381

 
$
282

 
$
4,249

 
$
6,958

 
$
(12,811
)
 
$
530,186

 
$
2,370,047


(1) 
Past due and non-accrual information presents acquired loans at the gross loan balance, prior to application of discounts.
(2) 
Past due and non-accrual loan amounts exclude acquired impaired loans, even if contractually past due or if the Company does not expect to receive payment in full, as the Company is currently accreting interest income over the expected life of the loans.
Schedule of Acquired Financing Receivables
The tables below show the balances acquired during the third quarter of 2017 for these two subsections of the portfolio as of the acquisition date. These amounts are subject to change due to the finalization of purchase accounting adjustments.
(Dollars in thousands)
Acquired Non-Impaired Loans
Contractually required principal and interest at acquisition
$
4,914,185

Expected losses and foregone interest
(54,226
)
Cash flows expected to be collected at acquisition
4,859,959

Fair value of acquired loans at acquisition
$
3,960,308

(Dollars in thousands)
Acquired Impaired Loans
Contractually required principal and interest at acquisition
$
111,114

Non-accretable difference (expected losses and foregone interest)
(12,245
)
Cash flows expected to be collected at acquisition
98,869

Accretable yield
(32,937
)
Basis in acquired loans at acquisition
$
65,932
Summary of Changes in Accretable Yields of Acquired Loans
The following is a summary of changes in the accretable difference for all loans accounted for under ASC 310-30 during the nine months ended September 30:
(Dollars in thousands)
 
2017
 
2016
Balance at beginning of period
 
$
175,054

 
$
227,502

Additions
 
32,937

 
—

Transfers from non-accretable difference to accretable yield
 
4,977

 
5,491

Accretion
 
(42,435
)
 
(52,603
)
Changes in expected cash flows not affecting non-accretable differences (1)
 
(242
)
 
12,743

Balance at end of period
 
$
170,291

 
$
193,133


(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 Modified TDRs
The following table provides information on how the TDRs were modified during the periods indicated:
 
Three Months Ended September 30
 
Nine Months Ended September 30
(Dollars in thousands)
2017
 
2016
 
2017
 
2016
Extended maturities
$
3,184

 
$
19,620

 
$
18,177

 
$
76,059

Maturity and interest rate adjustment
204

 
1,958

 
5,151

 
26,372

Movement to or extension of interest-rate only payments
3,560

 
1,256

 
3,692

 
1,689

Interest rate adjustment
—

 
—

 
25

 
133

Forbearance
841

 
51,285

 
5,528

 
75,953

Other concession(s) (1)
16,797

 
949

 
18,944

 
38,390

Total
$
24,586

 
$
75,068

 
$
51,517

 
$
218,596

(1) 
Other concessions may include covenant waivers, forgiveness of principal or interest associated with a customer bankruptcy, or a combination of any of the above concessions.
Schedule of Subsequently Defaulted TDRs
The following table presents the end of period balance for loans modified in a TDR during the periods indicated:
 
Three Months Ended September 30
 
2017
 
2016
(In thousands, except number of loans)
Number of Loans
 
Pre-modification Outstanding Recorded Investment
 
Post-modification Outstanding Recorded Investment
 
Number of Loans
 
Pre-modification Outstanding Recorded Investment
 
Post-modification Outstanding Recorded Investment
Commercial real estate- construction
2

 
$
1,166

 
$
1,164

 
—

 
$
—

 
$
—

Commercial real estate- owner-occupied
3

 
717

 
713

 
5

 
1,254

 
1,254

Commercial real estate- non-owner-occupied
10

 
5,306

 
5,298

 
6

 
9,512

 
3,688

Commercial and industrial
11

 
11,650

 
12,502

 
24

 
20,207

 
20,175

Energy-related
—

 
—

 
—

 
11

 
51,979

 
45,682

Residential mortgage
7

 
409

 
392

 
7

 
937

 
910

Consumer - home equity
38

 
3,495

 
3,479

 
37

 
2,570

 
2,371

Consumer - indirect
11

 
126

 
114

 
19

 
273

 
244

Consumer - other
25

 
952

 
924

 
32

 
750

 
744

Total
107

 
$
23,821

 
$
24,586

 
141

 
$
87,482

 
$
75,068

 
Nine Months Ended September 30
 
2017
 
2016
(In thousands, except number of loans)
Number of Loans
 
Pre-modification Outstanding Recorded Investment
 
Post-modification Outstanding Recorded Investment
 
Number of Loans
 
Pre-modification Outstanding Recorded Investment
 
Post-modification Outstanding Recorded Investment
Commercial real estate- construction
2

 
$
1,166

 
$
1,164

 
1

 
$
28

 
$
25

Commercial real estate- owner-occupied
5

 
2,447

 
2,411

 
9

 
8,069

 
8,043

Commercial real estate- non-owner-occupied
21

 
9,645

 
11,505

 
13

 
14,668

 
8,373

Commercial and industrial
44

 
18,743

 
19,399

 
49

 
44,144

 
43,083

Energy-related
—

 
—

 
—

 
28

 
143,012

 
145,298

Residential mortgage
16

 
1,126

 
1,030

 
31

 
4,784

 
4,659

Consumer - home equity
99

 
13,573

 
13,471

 
104

 
7,071

 
6,805

Consumer - indirect
36

 
398

 
279

 
63

 
691

 
693

Consumer - other
70

 
2,347

 
2,258

 
79

 
1,681

 
1,617

Total
293

 
$
49,445

 
$
51,517

 
377

 
$
224,148

 
$
218,596






Information detailing TDRs that defaulted during the three-month and nine-month periods ended September 30, 2017 and 2016, and were modified in the previous twelve months (i.e., the twelve months prior to the default) is presented in the following tables. 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 respective periods, or since the date of modification, whichever is shorter.
 
Three Months Ended September 30
 
2017
 
2016
(In thousands, except number of loans)
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
Commercial real estate- construction
2

 
$
1,164

 
—

 
$
—

Commercial real estate- owner-occupied
4

 
1,304

 
2

 
238

Commercial real estate- non-owner-occupied
11

 
2,206

 
2

 
280

Commercial and industrial
16

 
1,008

 
8

 
1,434

Energy-related
—

 
—

 
—

 
—

Residential mortgage
13

 
819

 
1

 
69

Consumer - home equity
23

 
2,150

 
11

 
602

Consumer - indirect automobile
26

 
242

 
—

 
—

Consumer - other
23

 
553

 
6

 
197

Total
118

 
$
9,446

 
30

 
$
2,820

 
Nine Months Ended September 30
 
2017
 
2016
(In thousands, except number of loans)
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
Commercial real estate- construction
2

 
$
1,164

 
—

 
$
—

Commercial real estate- owner-occupied
8

 
3,234

 
2

 
239

Commercial real estate- non-owner-occupied
16

 
4,929

 
3

 
429

Commercial and industrial
31

 
5,939

 
21

 
7,476

Energy-related
—

 
—

 
1

 
1,394

Residential mortgage
18

 
1,243

 
5

 
364

Consumer - home equity
34

 
3,215

 
16

 
1,037

Consumer - indirect automobile
34

 
308

 
—

 
—

Consumer - other
31

 
956

 
13

 
278

Total
174

 
$
20,988

 
61

 
$
11,217