Allowance for Expected Credit Losses and Credit Quality (Tables)

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Schedule of Allowance for Loan Losses for Covered and Non-Covered Loan Portfolios

A summary of changes in the allowance for expected credit losses for the three months ended March 31 was as follows:

(in thousands)	2020			2019
Allowance for loan and lease losses at beginning of period	$	146,588		$	140,571
Transition adjustment for ASC 326	83,194			—
Allowance for loan and lease losses, as adjusted	229,782			140,571
Provision for loan and lease losses	66,431			12,612
Transfer of balance to OREO and other	—			(2,885		)
Charge-offs	(12,119		)	(8,918		)
Recoveries	2,591			1,586
Allowance for loan and lease losses at end of period	$	286,685		$	142,966
Reserve for unfunded commitments at beginning of period	$	16,637		$	14,830
Transition adjustment for ASC 326	(875		)	—
Reserve for unfunded lending commitments, as adjusted	15,762			14,830
Provision for unfunded lending commitments	2,540			1,151
Reserve for unfunded commitments at end of period	$	18,302		$	15,981
Allowance for expected credit losses at end of period	$	304,987		$	158,947

A summary of changes in the allowance for expected credit losses, by loan portfolio type, for the three months ended March 31 was as follows:

	Three Months Ended March 31, 2020
	Commercial
	Real Estate												Consumer
(in thousands)	Construction			Owner-occupied			Non-owner-occupied			Commercial and Industrial			Residential Mortgage			Home Equity			Other			Total
Allowance for loan and lease losses at beginning of period	$	5,983		$	15,770		$	36,541		$	55,634		$	9,647		$	12,153		$	10,860		$	146,588
Transition adjustment for ASC 326	2,307			(8,163		)	29,850			(14,659		)	70,521			3,620			(282		)	83,194
Allowance for loan and lease losses, as adjusted	8,290			7,607			66,391			40,975			80,168			15,773			10,578			229,782
Provision for loan and lease losses	940			2,603			30,500			11,833			10,535			7,313			2,707			66,431
Charge-offs	(14		)	—			(240		)	(7,895		)	(450		)	(1,435		)	(2,085		)	(12,119		)
Recoveries	219			25			132			1,037			329			386			463			2,591
Allowance for loan and lease losses at end of period	$	9,435		$	10,235		$	96,783		$	45,950		$	90,582		$	22,037		$	11,663		$	286,685
Reserve for unfunded lending commitments at beginning of period	$	4,010		$	345		$	1,629		$	6,478		$	562		$	2,078		$	1,535		$	16,637
Transition adjustment for ASC 326	1,025			627			(991		)	3			743			(812		)	(1,470		)	(875		)
Reserve for unfunded lending commitments, as adjusted	5,035			972			638			6,481			1,305			1,266			65			15,762
Provision for (reversal of) unfunded commitments	492			418			91			925			215			433			(34		)	2,540
Reserve for unfunded lending commitments at end of period	5,527			1,390			729			7,406			1,520			1,699			31			18,302
Allowance for expected credit losses at end of period	$	14,962		$	11,625		$	97,512		$	53,356		$	92,102		$	23,736		$	11,694		$	304,987

	Three Months Ended March 31, 2019
	Commercial
	Real Estate										Consumer
(in thousands)	Construction		Owner-occupied			Non-owner-occupied		Commercial and Industrial			Residential Mortgage			Home Equity			Other			Total
Allowance for loan and lease losses at beginning of period	$	4,743	$	12,549		$	34,514	$	54,096		$	12,998		$	10,181		$	11,490		$	140,571
Provision for loan and lease losses	936		1,303			4,648		2,876			1,749			1,056			44			12,612
Transfer of balance to OREO and other	—		—			—		—			(2,881		)	(4		)	—			(2,885		)
Charge-offs	—		(72		)	—		(4,931		)	(28		)	(1,401		)	(2,486		)	(8,918		)
Recoveries	3		35			65		446			32			314			691			1,586
Allowance for loan and lease losses at end of period	$	5,682	$	13,815		$	39,227	$	52,487		$	11,870		$	10,146		$	9,739		$	142,966
Reserve for unfunded commitments at beginning of period	$	3,249	$	316		$	1,304	$	6,198		$	866		$	1,783		$	1,114		$	14,830
Provision for unfunded commitments	333		60			401		128			22			28			179			1,151
Reserve for unfunded commitments at end of period	3,582		376			1,705		6,326			888			1,811			1,293			15,981
Allowance for credit losses at end of period	$	9,264	$	14,191		$	40,932	$	58,813		$	12,758		$	11,957		$	11,032		$	158,947

Investment in Legacy and Acquired Loans by Credit Quality Indicator

	Term Loans
(in thousands)	2020		2019		2018		2017		2016		Prior		Revolving loans		Revolving loans Converted to Term		Total
Commercial loans and leases
Real Estate- Construction
Pass	$	45,117	$	336,900	$	599,002	$	172,612	$	65,200	$	51,622	$	40,147	$	—	$	1,310,600
Special Mention	—		—		—		—		10		105		2,156		—		2,271
Substandard	—		—		9,213		—		—		475		65		—		9,753
Doubtful	—		—		—		—		—		3		—		—		3
Total Real Estate- Construction	45,117		336,900		608,215		172,612		65,210		52,205		42,368		—		1,322,627
Real Estate- Owner- occupied
Pass	69,996		379,882		319,249		357,057		274,226		895,032		66,866		—		2,362,308
Special Mention	—		—		7,306		681		399		13,419		400		—		22,205
Substandard	—		234		1,011		8,204		3,518		23,856		387		—		37,210
Doubtful	—		—		—		—		—		2,416		—		—		2,416
Total Real Estate- Owner-occupied	69,996		380,116		327,566		365,942		278,143		934,723		67,653		—		2,424,139
Real Estate- Non-owner-occupied
Pass	261,614		1,323,506		961,036		987,814		867,303		1,867,101		130,929		—		6,399,303
Special Mention	—		—		806		1,497		10,248		14,561		1,900		—		29,012
Substandard	—		591		2,059		10,066		6,038		31,481		635		—		50,870
Doubtful	—		—		104		—		—		4,968		—		—		5,072
Total Real Estate- Non-owner-occupied	261,614		1,324,097		964,005		999,377		883,589		1,918,111		133,464		—		6,484,257
Commercial and Industrial (1)
Pass	649,228		1,957,486		1,307,679		455,600		218,485		551,933		1,635,017		—		6,775,428
Special Mention	259		1,463		23,811		500		8,093		1,436		7,896		—		43,458
Substandard	4,102		16,838		3,023		20,486		1,151		19,194		5,846		—		70,640
Doubtful	—		5,323		9,517		2,353		648		2,474		—		—		20,315
Total Commercial and Industrial	653,589		1,981,110		1,344,030		478,939		228,377		575,037		1,648,759		—		6,909,841
Total Commercial Loans and Leases	$	1,030,316	$	4,022,223	$	3,243,816	$	2,016,870	$	1,455,319	$	3,480,076	$	1,892,244	$	—	$	17,140,864
(1) Includes equipment financing leases

	Term Loans
(in thousands)	2020		2019		2018		2017		2016		Prior		Revolving loans		Revolving loans Converted to Term		Total
Consumer Loans:
Residential Mortgage
781 and above	$	45,204	$	332,402	$	263,099	$	185,336	$	153,118	$	387,923	$	—	$	—	$	1,367,082
723-780	72,666		452,401		360,319		233,243		199,457		410,212		—		—		1,728,298
700-722	14,430		94,286		93,264		49,705		47,736		116,470		—		—		415,891
660-699	8,549		103,361		83,700		37,108		54,661		144,238		—		—		431,617
620-659	3,273		39,018		26,883		15,701		15,481		94,296		—		—		194,652
580-619	—		13,756		11,717		8,358		11,281		51,387		—		—		96,499
579 and below	101,641		52,459		53,362		58,542		84,198		264,878		—		—		615,080
Total Residential Mortgage	245,763		1,087,683		892,344		587,993		565,932		1,469,404		—		—		4,849,119
Home Equity
781 and above	2,052		8,710		28,297		16,579		15,903		56,995		374,502		21,481		524,519
723-780	1,160		13,680		25,948		19,278		25,677		81,172		498,082		27,061		692,058
700-722	103		2,226		7,915		7,696		5,276		18,320		130,949		13,029		185,514
660-699	747		3,823		10,975		6,434		6,112		32,755		163,267		17,238		241,351
620-659	351		1,418		1,894		4,355		3,630		19,419		73,928		13,822		118,817
580-619	2,735		875		5,331		2,006		2,581		13,452		27,526		6,484		60,990
579 and below	5,988		2,742		10,009		5,850		2,592		18,201		45,334		12,788		103,504
Total Home Equity	13,136		33,474		90,369		62,198		61,771		240,314		1,313,588		111,903		1,926,753
Other Consumer Loans
781 and above	3,357		11,136		8,566		14,957		5,938		22,047		69,402		—		135,403
723-780	5,717		11,388		22,356		12,895		5,490		32,481		76,717		—		167,044
700-722	1,089		22,224		4,560		3,345		4,133		11,551		16,713		—		63,615
660-699	1,803		4,688		5,120		4,057		1,113		18,128		20,797		—		55,706
620-659	751		4,245		2,432		1,702		3,745		8,142		13,553		—		34,570
580-619	337		1,754		2,689		674		1,611		4,922		8,499		—		20,486
579 and below	22,670		2,038		3,282		3,137		2,585		106,144		8,216		—		148,072
Total Other Consumer	35,724		57,473		49,005		40,767		24,615		203,415		213,897		—		624,896
Total Consumer Loans	294,623		1,178,630		1,031,718		690,958		652,318		1,913,133		1,527,485		111,903		7,400,768
Total Loans and Leases	$	1,324,939	$	5,200,853	$	4,275,534	$	2,707,828	$	2,107,637	$	5,393,209	$	3,419,729	$	111,903	$	24,541,632