Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Oct. 26, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | UMBF | |
Entity Registrant Name | UMB FINANCIAL CORP | |
Entity Central Index Key | 101,382 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 49,867,273 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
ASSETS | ||
Loans: | $ 10,997,028 | $ 10,540,383 |
Allowance for loan losses | (98,389) | (91,649) |
Net loans | 10,898,639 | 10,448,734 |
Loans held for sale | 4,525 | 5,279 |
Investment securities: | ||
Available for sale | 5,848,960 | 6,466,334 |
Held to maturity (fair value of $1,181,747 and $1,106,027, respectively) | 1,276,252 | 1,115,932 |
Trading securities | 60,660 | 39,536 |
Other securities | 63,543 | 68,306 |
Total investment securities | 7,249,415 | 7,690,108 |
Federal funds sold and securities purchased under agreements to resell | 244,436 | 324,327 |
Interest-bearing due from banks | 221,856 | 715,823 |
Cash and due from banks | 366,169 | 422,117 |
Premises and equipment, net | 277,454 | 289,007 |
Accrued income | 103,076 | 99,045 |
Goodwill | 180,867 | 180,867 |
Other intangibles, net | 23,477 | 26,630 |
Other assets | 655,846 | 425,205 |
Discontinued assets – goodwill and other intangibles, net | 53,743 | 55,390 |
Total assets | 20,279,503 | 20,682,532 |
Deposits: | ||
Noninterest-bearing demand | 5,812,117 | 6,654,584 |
Interest-bearing demand and savings | 9,063,079 | 8,780,309 |
Time deposits under $250,000 | 576,035 | 613,589 |
Time deposits of $250,000 or more | 548,373 | 522,132 |
Total deposits | 15,999,604 | 16,570,614 |
Federal funds purchased and repurchase agreements | 1,856,837 | 1,856,937 |
Long-term debt | 76,071 | 76,772 |
Accrued expenses and taxes | 193,978 | 172,967 |
Other liabilities | 51,470 | 42,858 |
Total liabilities | 18,177,960 | 18,720,148 |
SHAREHOLDERS' EQUITY | ||
Common stock, $1.00 par value; 80,000,000 shares authorized; 55,056,730 shares issued; and 49,862,453 and 49,673,056 shares outstanding, respectively | 55,057 | 55,057 |
Capital surplus | 1,042,022 | 1,033,419 |
Retained earnings | 1,239,865 | 1,142,887 |
Accumulated other comprehensive loss, net | (22,668) | (57,542) |
Treasury stock, 5,194,277 and 5,383,674 shares, at cost, respectively | (212,733) | (211,437) |
Total shareholders' equity | 2,101,543 | 1,962,384 |
Total liabilities and shareholders' equity | $ 20,279,503 | $ 20,682,532 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Statement Of Financial Position [Abstract] | ||
Held to Maturity, Fair value | $ 1,181,747 | $ 1,106,027 |
Common stock, par value | $ 1 | $ 1 |
Common stock, shares authorized | 80,000,000 | 80,000,000 |
Common stock, shares issued | 55,056,730 | 55,056,730 |
Common stock, shares outstanding | 49,862,453 | 49,673,056 |
Treasury stock, shares | 5,194,277 | 5,383,674 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
INTEREST INCOME | ||||
Loans | $ 119,132 | $ 98,820 | $ 338,416 | $ 283,313 |
Securities: | ||||
Taxable interest | 17,720 | 17,012 | 55,351 | 55,221 |
Tax-exempt interest | 18,893 | 14,797 | 54,372 | 41,377 |
Total securities income | 36,613 | 31,809 | 109,723 | 96,598 |
Federal funds and resell agreements | 1,008 | 790 | 2,638 | 1,939 |
Interest-bearing due from banks | 753 | 445 | 1,884 | 1,772 |
Trading securities | 389 | 174 | 1,135 | 399 |
Total interest income | 157,895 | 132,038 | 453,796 | 384,021 |
INTEREST EXPENSE | ||||
Deposits | 10,181 | 4,626 | 23,982 | 12,817 |
Federal funds and repurchase agreements | 5,811 | 1,894 | 14,274 | 4,750 |
Other | 1,045 | 753 | 2,973 | 2,587 |
Total interest expense | 17,037 | 7,273 | 41,229 | 20,154 |
Net interest income | 140,858 | 124,765 | 412,567 | 363,867 |
Provision for loan losses | 11,500 | 13,000 | 35,000 | 25,000 |
Net interest income after provision for loan losses | 129,358 | 111,765 | 377,567 | 338,867 |
NONINTEREST INCOME | ||||
Trust and securities processing | 45,060 | 41,812 | 132,412 | 123,984 |
Trading and investment banking | 4,453 | 6,114 | 18,168 | 16,382 |
Service charges on deposit accounts | 21,510 | 21,832 | 66,316 | 65,713 |
Insurance fees and commissions | 425 | 698 | 1,584 | 3,355 |
Brokerage fees | 5,815 | 4,712 | 17,081 | 13,159 |
Bankcard fees | 17,427 | 17,086 | 55,413 | 52,636 |
Gain on sales of securities available for sale, net | 2,390 | 2,978 | 4,138 | 8,509 |
Equity (losses) earnings on alternative investments | (584) | 1,594 | (1,393) | 2,191 |
Other | 7,810 | 6,716 | 23,810 | 18,352 |
Total noninterest income | 104,306 | 103,542 | 317,529 | 304,281 |
NONINTEREST EXPENSE | ||||
Salaries and employee benefits | 99,749 | 99,403 | 306,174 | 293,294 |
Occupancy, net | 11,285 | 11,224 | 33,314 | 32,996 |
Equipment | 17,880 | 16,029 | 53,318 | 48,807 |
Supplies and services | 4,076 | 4,472 | 12,962 | 13,875 |
Marketing and business development | 5,056 | 5,090 | 14,929 | 15,273 |
Processing fees | 11,151 | 9,084 | 31,093 | 27,118 |
Legal and consulting | 5,844 | 4,437 | 17,361 | 14,107 |
Bankcard | 5,130 | 5,015 | 15,066 | 16,199 |
Amortization of other intangible assets | 1,715 | 2,088 | 5,685 | 6,644 |
Regulatory fees | 3,798 | 3,370 | 11,702 | 10,491 |
Other | 6,137 | 4,999 | 20,966 | 20,094 |
Total noninterest expense | 171,821 | 165,211 | 522,570 | 498,898 |
Income before income taxes | 61,843 | 50,096 | 172,526 | 144,250 |
Income tax expense | 12,971 | 10,674 | 36,907 | 34,016 |
Income from continuing operations | 48,872 | 39,422 | 135,619 | 110,234 |
Discontinued Operations | ||||
(Loss) income from discontinued operations before income taxes | (1,030) | 3,834 | (722) | 8,792 |
Income tax (benefit) expense | (300) | 1,310 | (247) | 3,159 |
(Loss) income from discontinued operations | (730) | 2,524 | (475) | 5,633 |
NET INCOME | $ 48,142 | $ 41,946 | $ 135,144 | $ 115,867 |
Basic: | ||||
Income from continuing operations | $ 0.99 | $ 0.81 | $ 2.76 | $ 2.26 |
(Loss) income from discontinued operations | (0.01) | 0.05 | (0.01) | 0.11 |
Net income – basic | 0.98 | 0.86 | 2.75 | 2.37 |
Diluted: | ||||
Income from continuing operations | 0.98 | 0.80 | 2.72 | 2.24 |
(Loss) income from discontinued operations | (0.01) | 0.05 | (0.01) | 0.12 |
Net income - diluted | 0.97 | 0.85 | 2.71 | 2.36 |
Dividends | $ 0.255 | $ 0.245 | $ 0.765 | $ 0.735 |
Weighted average shares outstanding - basic | 49,283,322 | 48,849,251 | 49,221,629 | 48,792,419 |
Weighted average shares outstanding - diluted | 49,833,141 | 49,284,280 | 49,838,619 | 49,162,200 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net Income | $ 48,142 | $ 41,946 | $ 135,144 | $ 115,867 |
Unrealized gains (losses) on securities: | ||||
Change in unrealized holding gains (losses), net | 5,064 | (16,946) | 62,646 | 90,639 |
Less: Reclassification adjustment for gains included in net income | (2,390) | (2,978) | (4,138) | (8,509) |
Change in unrealized gains (losses) on securities during the period | 2,674 | (19,924) | 58,508 | 82,130 |
Change in unrealized losses on derivative hedges | (169) | (643) | (1,080) | (7,677) |
Income tax (expense) benefit | (1,548) | 7,784 | (22,554) | (28,223) |
Other comprehensive income (loss) | 957 | (12,783) | 34,874 | 46,230 |
Comprehensive income | $ 49,099 | $ 29,163 | $ 170,018 | $ 162,097 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock | Capital Surplus | Retained Earnings | Accumulated Other Comprehensive (Loss) Income | Treasury Stock | |
Beginning Balance at Dec. 31, 2015 | $ 1,893,694 | $ 55,057 | $ 1,019,889 | $ 1,033,990 | $ (3,718) | $ (211,524) | |
Total comprehensive income | 162,097 | 115,867 | 46,230 | ||||
Cash dividends | (36,388) | (36,388) | |||||
Purchase of treasury stock | (14,189) | (14,189) | |||||
Issuance of equity awards | 429 | (3,373) | 3,802 | ||||
Recognition of equity-based compensation | 8,253 | 8,253 | |||||
Sale of treasury stock | 836 | 362 | 474 | ||||
Exercise of stock options | 9,414 | 2,400 | 7,014 | ||||
Cumulative effect adjustment | [1] | 482 | 1,338 | (856) | |||
Ending Balance at Sep. 30, 2016 | 2,024,628 | 55,057 | 1,028,869 | 1,112,613 | 42,512 | (214,423) | |
Beginning Balance at Dec. 31, 2016 | 1,962,384 | 55,057 | 1,033,419 | 1,142,887 | (57,542) | (211,437) | |
Total comprehensive income | 170,018 | 135,144 | 34,874 | ||||
Cash dividends | (38,166) | (38,166) | |||||
Purchase of treasury stock | (14,369) | (14,369) | |||||
Issuance of equity awards | 471 | (3,364) | 3,835 | ||||
Recognition of equity-based compensation | 9,576 | 9,576 | |||||
Sale of treasury stock | 849 | 468 | 381 | ||||
Exercise of stock options | 10,780 | 1,923 | 8,857 | ||||
Ending Balance at Sep. 30, 2017 | $ 2,101,543 | $ 55,057 | $ 1,042,022 | $ 1,239,865 | $ (22,668) | $ (212,733) | |
[1] | See Note 3, “New Accounting Pronouncements,” for a discussion of the adoption of Accounting Standards Update (ASU) 2016-09. |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statement Of Stockholders Equity [Abstract] | ||||
Cash Dividends, per share | $ 0.255 | $ 0.245 | $ 0.765 | $ 0.735 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Operating Activities | ||
Net Income | $ 135,144 | $ 115,867 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 35,000 | 25,000 |
Net accretion of premiums and discounts from acquisition | (1,810) | (1,711) |
Depreciation and amortization | 41,538 | 40,949 |
Deferred income tax expense | 1,555 | 911 |
Net increase in trading securities | (17,680) | (30,635) |
Gains on sales of securities available for sale, net | (4,138) | (8,509) |
Gains on sales of assets | (484) | (136) |
Amortization of securities premiums, net of discount accretion | 36,571 | 43,467 |
Originations of loans held for sale | (53,207) | (71,726) |
Gains on sales of loans held for sale, net | (1,188) | (1,281) |
Proceeds from sales of loans held for sale | 55,149 | 61,716 |
Equity-based compensation | 10,047 | 8,682 |
Net tax benefit (expense) related to equity compensation plans | 3,149 | (261) |
Changes in: | ||
Accrued income | (4,031) | (2,889) |
Accrued expenses and taxes | 21,011 | 4,789 |
Other assets and liabilities, net | (12,336) | (14,466) |
Net cash provided by operating activities | 244,290 | 169,767 |
Investing Activities | ||
Proceeds from maturities of securities held to maturity | 64,079 | 29,757 |
Proceeds from sales of securities available for sale | 573,062 | 951,263 |
Proceeds from maturities of securities available for sale | 1,005,585 | 1,300,372 |
Purchases of securities held to maturity | (225,445) | (373,520) |
Purchases of securities available for sale | (1,107,842) | (1,689,198) |
Net increase in loans | (481,593) | (876,784) |
Net decrease (increase) in fed funds sold and resell agreements | 79,891 | (71,264) |
Net cash activity from acquisitions and branch sales | (2,532) | |
Net increase in interest bearing balances due from other financial institutions | 34,164 | 65,203 |
Purchases of premises and equipment | (24,748) | (38,950) |
Proceeds from sales of premises and equipment | 1,650 | 2,164 |
Increase in COLI/BOLI cash surrender value | (62,800) | (7,095) |
Net cash used in investing activities | (146,529) | (708,052) |
Financing Activities | ||
Net (decrease) increase in demand and savings deposits | (559,697) | 460,129 |
Net decrease in time deposits | (11,313) | (173,783) |
Net (decrease) increase in fed funds purchased and repurchase agreements | (100) | 203,061 |
Net decrease in short-term debt | (5,000) | |
Repayment of long-term debt | (1,491) | (11,285) |
Payment of contingent consideration on acquisitions | (3,031) | |
Cash dividends paid | (38,171) | (36,385) |
Proceeds from exercise of stock options and sales of treasury shares | 11,629 | 10,250 |
Purchases of treasury stock | (14,369) | (14,189) |
Net cash (used in) provided by financing activities | (613,512) | 429,767 |
Decrease in cash and cash equivalents | (515,751) | (108,518) |
Cash and cash equivalents at beginning of period | 1,063,967 | 819,112 |
Cash and cash equivalents at end of period | 548,216 | 710,594 |
Supplemental Disclosures: | ||
Income taxes paid | 37,109 | 30,995 |
Total interest paid | $ 40,245 | $ 20,555 |
Financial Statement Presentatio
Financial Statement Presentation | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Financial Statement Presentation | 1. Financial Statement Presentation The Consolidated Financial Statements include the accounts of UMB Financial Corporation and its subsidiaries (collectively, the Company) after elimination of all intercompany transactions. In the opinion of management of the Company, all adjustments relating to items that are of a normal recurring nature and necessary for a fair presentation of the financial position and results of operations have been made. The results of operations and cash flows for the interim periods presented may not be indicative of the results of the full year ending December 31, 2017. The financial statements should be read in conjunction with “Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations” within this Quarterly Report on Form 10-Q (the Form 10-Q) and in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 filed with the Securities and Exchange Commission (SEC) on February 23, 2017 (the Form 10-K). On April 20, 2017, the Company announced the execution of an agreement to sell all of the outstanding stock of Scout Investments, Inc. (Scout), its institutional investment management subsidiary, for $172.5 million in cash, subject to customary purchase price adjustments at closing, which is expected to occur in the fourth quarter of 2017. See Items 1.01 and 5.02 in the Company’s Current Report on Form 8-K that was filed April 20, 2017. In accordance with Accounting Standards Codification (ASC) Topic 205-20, Discontinued Operations |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies The Company is a financial holding company, which offers a wide range of banking and other financial services to its customers through its branches and offices in Missouri, Kansas, Colorado, Illinois, Oklahoma, Texas, Arizona, Nebraska, Pennsylvania, South Dakota, Indiana, Utah, Minnesota, California, and Wisconsin. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. These estimates and assumptions also impact reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. A summary of the significant accounting policies to assist the reader in understanding the financial presentation is provided in the Notes to Consolidated Financial Statements in the Form 10-K. Cash and cash equivalents Cash and cash equivalents include Cash and due from banks and amounts due from the Federal Reserve Bank. Cash on hand, cash items in the process of collection, and amounts due from correspondent banks are included in Cash and due from banks. Amounts due from the Federal Reserve Bank are interest-bearing for all periods presented and are included in the Interest-bearing due from banks line on the Company’s Consolidated Balance Sheets. This table provides a summary of cash and cash equivalents as presented on the Consolidated Statements of Cash Flows as of September 30, 2017 and September 30, 2016 (in thousands) September 30, 2017 2016 Due from the Federal Reserve Bank $ 182,047 $ 356,410 Cash and due from banks 366,169 354,184 Cash and cash equivalents at end of period $ 548,216 $ 710,594 Also included in the Interest-bearing due from banks, but not considered cash and cash equivalents, are interest-bearing accounts held at other financial institutions, which totaled $39.8 million and $96.8 million at September 30, 2017 and September 30, 2016, respectively. Per Share Data Basic net income per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted quarter-to-date net income per share includes the dilutive effect of 549,819 and 435,029 shares issuable upon the exercise of options granted by the Company and outstanding at September 30, 2017 and 2016, respectively. Diluted year-to-date net income per share includes the dilutive effect of 616,990 and 369,781 shares issuable upon the exercise of stock options granted by the Company and outstanding at September 30, 2017 and 2016, respectively. Options issued under employee benefits plans to purchase 150,739 shares of common stock were outstanding at September 30, 2017, but were not included in the computation of quarter-to-date and year-to-date diluted EPS because the options were anti-dilutive. Options issued under employee benefits plans to purchase 394,863 shares of common stock were outstanding at September 30, 2016, but were not included in the computation of quarter-to-date diluted EPS because the options were anti-dilutive. Options issued under employee benefits plans to purchase 628,698 shares of common stock were outstanding at September 30, 2016, but were not included in the computation of year-to-date diluted EPS because the options were anti-dilutive. |
New Accounting Pronouncements
New Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Changes And Error Corrections [Abstract] | |
New Accounting Pronouncements | 3. New Accounting Pronouncements Revenue Recognition In May 2014, the Financial Accounting Standards Board (FASB) issued ASU No. 2014-09, “Revenue from Contracts with Customers.” The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. In August 2015, the FASB issued ASU No. 2015-14, which deferred the effective date of ASU No. 2014-09 to annual reporting periods that begin after December 15, 2017. In March, April, and May 2016, the FASB issued implementation amendments to the May 2014 ASU (collectively, the amended guidance). The amended guidance affects any entity that enters into contracts with customers to transfer goods and services, unless those contracts are within the scope of other standards. The amended guidance specifically excludes interest income, as well as other revenues associated with financial assets and liabilities, including loans, leases, securities, and derivatives. The amended guidance permits the use of either the full retrospective approach or a modified retrospective approach. The Company plans to adopt the amended guidance using the modified retrospective approach on January 1, 2018. The Company is progressing in implementing the amended guidance. The Company has assessed its revenue streams and identified those contracts that are specifically excluded from the scope of the amended guidance and those that may be subject to the amended guidance. Subsequent to this initial scoping, the Company selected a representative sample of contracts from the in-scope revenue streams for review under the amended guidance (key contracts). Upon completion of the review of the key contracts, the Company grouped the remaining contracts based on the conclusions reached through the key contract review and evaluated specific contracts that could not be grouped. Based on the evaluation of key contracts performed, the adoption of this accounting pronouncement is not expected to have a significant impact on the Company’s Consolidated Financial Statements. The Company continues to evaluate the impact the amended guidance will have on its related disclosures. Financial Instruments In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” The amendment is intended to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments in this update are effective for interim and annual periods beginning after December 15, 2017. The standard requires the use of the cumulative effect transition method as of the beginning of the year of adoption. Except for certain provisions, early adoption is not permitted. The Company is currently evaluating the impact that this standard will have on its Consolidated Financial Statements. Leases In February 2016, the FASB issued ASU No. 2016-02, “Leases.” The amendment changes the accounting treatment of leases, in that lessees will recognize most leases on-balance sheet. This will increase reported assets and liabilities, as lessees will be required to recognize a right-of-use asset along with a lease liability, measured on a discounted basis. Lessees are allowed to account for short-term leases (those with a term of twelve months or less) off-balance sheet. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The standard requires the use of the modified retrospective transition method. Early adoption is permitted. The Company is currently evaluating the impact that this standard will have on its Consolidated Financial Statements. Extinguishments of Liabilities In March 2016, the FASB issued ASU No. 2016-04, “Recognition of Breakage for Certain Prepaid Stored-Value Products.” The amendment is intended to reduce the diversity in practice related to the recognition of breakage. Breakage refers to the portion of a prepaid stored-value product, such as a gift card, that goes unused wholly or partially for an indefinite period of time. This amendment requires that breakage be accounted for consistent with the breakage guidance within ASU No. 2014-09, “Revenue from Contracts with Customers.” The amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The standard permits the use of either the modified retrospective or full retrospective transition method. Early adoption is permitted. The Company will adopt ASU No. 2016-04 in conjunction with its adoption of ASU No. 2014-09. The adoption of this accounting pronouncement is not expected to have a significant impact on the Company’s Consolidated Financial Statements. Equity-Based Compensation In March 2016, the FASB issued ASU No. 2016-09, “Improvements to Employee Share-Based Payment Accounting.” The amendment is part of the FASB’s simplification initiative and is intended to simplify the accounting around share-based payment award transactions. The amendments include changing the recording of excess tax benefits from being recognized as a part of surplus capital to being charged directly to the income statement, changing the classification of excess tax benefits within the statement of cash flows, and allowing companies to account for forfeitures on an actual basis, as well as tax withholding changes. The amendment requires different transition methods for various components of the standard. The amendments in this update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted. In September 2016, the Company early adopted ASU No. 2016-09 with an effective date of January 1, 2016. As part of the adoption of this standard, the Company made an accounting policy election to account for forfeitures on an actual basis and discontinued the use of an estimated forfeiture approach. Additionally, the Company selected the retrospective transition method for the reclassification of the “Net tax benefit related to equity compensation plans” from the financing section to the operating section of the Company’s Consolidated Statement of Cash Flows. The impact to the Company’s Consolidated Statements of Income for adopting all provisions of the standard was an increase to net income of $158 thousand for the three-month period ended March 31, 2016 and an increase to net income of $220 thousand for the three-month period ended June 30, 2016. Upon adoption, the Company recorded a cumulative effect adjustment to the Company’s Consolidated Balance Sheets of $482 thousand as an increase to total equity. Credit Losses In September 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” This update replaces the current incurred loss methodology for recognizing credit losses with a current expected credit loss model, which requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This amendment broadens the information that an entity must consider in developing its expected credit loss estimates. Additionally, the update amends the accounting for credit losses for available-for-sale debt securities and purchased financial assets with a more-than-insignificant amount of credit deterioration since origination. This update requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of a company’s loan portfolio. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption in fiscal years beginning after December 15, 2018 is permitted. The amendment requires the use of the modified retrospective approach for adoption. The Company is currently evaluating the impact that this standard will have on its Consolidated Financial Statements. Statement of Cash Flows In August 2016, the FASB issued ASU 2016-15 “Classification of Certain Receipts and Cash Payments.” This amendment adds to and clarifies existing guidance regarding the classification of certain cash receipts and payments in the statement of cash flows with the intent of reducing diversity in practice with respect to eight types of cash flows. The amendments in this update require full retrospective adoption and are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact that this standard will have on its Consolidated Statements of Cash Flows. Derivatives and Hedging In August 2017, the FASB issued ASU No. 2017-12, “Targeted Improvements to Accounting for Hedging Activities.” The purpose of this updated guidance is to better align financial reporting for hedging activities with the economic objectives of those activities. The amendments in this update are effective for fiscal years beginning after December 15, 2018, with early adoption, including adoption in an interim period, permitted. The standard requires the modified retrospective transition approach as of the date of adoption. The Company is currently evaluating the impact that this standard will have on its Consolidated Financial Statements. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | 4. Loans and Allowance for Loan Losses Loan Origination/Risk Management The Company has certain lending policies and procedures in place that are designed to minimize the level of risk within the loan portfolio. Diversification of the loan portfolio manages the risk associated with fluctuations in economic conditions. Authority levels are established for the extension of credit to ensure consistency throughout the Company. It is necessary that policies, processes and practices implemented to control the risks of individual credit transactions and portfolio segments are sound and adhered to. The Company maintains an independent loan review department that reviews and validates the risk assessment on a continual basis. Management regularly evaluates the results of the loan reviews. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures. Commercial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Commercial loans are made based on the identified cash flows of the borrower and on the underlying collateral provided by the borrower. The cash flows of the borrower, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts from its customers. Commercial credit cards are generally unsecured and are underwritten with criteria similar to commercial loans including an analysis of the borrower’s cash flow, available business capital, and overall credit-worthiness of the borrower. Asset-based loans are offered primarily in the form of revolving lines of credit to commercial borrowers that do not generally qualify for traditional bank financing. Asset-based loans are underwritten based primarily upon the value of the collateral pledged to secure the loan, rather than on the borrower’s general financial condition. The Company utilizes pre-loan due diligence techniques, monitoring disciplines, and loan management practices common within the asset-based lending industry to underwrite loans to these borrowers. Factoring loans provide working capital through the purchase and/or financing of accounts receivable to borrowers in the transportation industry and to commercial borrowers that do not generally qualify for traditional bank financing. Commercial real estate loans are subject to underwriting standards and processes similar to commercial loans, in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts, and the repayment of these loans is largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. The Company requires that an appraisal of the collateral be made at origination and on an as-needed basis, in conformity with current market conditions and regulatory requirements. The underwriting standards address both owner and non-owner occupied real estate. Construction loans are underwritten using feasibility studies, independent appraisal reviews, sensitivity analysis or absorption and lease rates and financial analysis of the developers and property owners. Construction loans are based upon estimates of costs and value associated with the complete project. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their repayment being sensitive to interest rate changes, governmental regulation of real property, economic conditions, and the availability of long-term financing. Underwriting standards for residential real estate and home equity loans are based on the borrower’s loan-to-value percentage, collection remedies, and overall credit history. Consumer loans are underwritten based on the borrower’s repayment ability. The Company monitors delinquencies on all of its consumer loans and leases and periodically reviews the distribution of FICO scores relative to historical periods to monitor credit risk on its credit card loans. The underwriting and review practices combined with the relatively small loan amounts that are spread across many individual borrowers, minimizes risk. Consumer loans and leases that are 90 days past due or more are considered non-performing. Credit risk is a potential loss resulting from nonpayment of either the primary or secondary exposure. Credit risk is mitigated with formal risk management practices and a thorough initial credit-granting process including consistent underwriting standards and approval process. Control factors or techniques to minimize credit risk include knowing the client, understanding total exposure, analyzing the client and debtor’s financial capacity, and monitoring the client’s activities. Credit risk and portions of the portfolio risk are managed through concentration considerations, average risk ratings, and other aggregate characteristics. Loan Aging Analysis This table provides a summary of loan classes and an aging of past due loans at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 30-89 Days Past Due and Accruing Greater than 90 Days Past Due and Accruing Non- Accrual Loans Total Past Due Current Total Loans Loans Commercial: Commercial $ 15,092 $ 59 $ 39,107 $ 54,258 $ 4,367,307 $ 4,421,565 Asset-based — — — — 310,030 310,030 Factoring — — — — 195,882 195,882 Commercial – credit card 325 98 — 423 174,359 174,782 Real estate: Real estate – construction 547 4 93 644 809,416 810,060 Real estate – commercial 4,522 — 10,769 15,291 3,345,936 3,361,227 Real estate – residential 943 157 745 1,845 612,751 614,596 Real estate – HELOC 397 — 3,138 3,535 658,456 661,991 Consumer: Consumer – credit card 1,913 1,721 357 3,991 239,744 243,735 Consumer – other 613 49 22 684 178,031 178,715 Leases — — — — 24,445 24,445 Total loans $ 24,352 $ 2,088 $ 54,231 $ 80,671 $ 10,916,357 $ 10,997,028 December 31, 2016 30-89 Days Past Due and Accruing Greater than 90 Days Past Due and Accruing Non- Accrual Loans Total Past Due PCI Loans Current Total Loans Loans Commercial: Commercial $ 3,285 $ 49 $ 35,777 $ 39,111 $ — $ 4,371,695 $ 4,410,806 Asset-based — — — — — 225,878 225,878 Factoring — — — — — 139,902 139,902 Commercial – credit card 612 10 8 630 — 146,105 146,735 Real estate: Real estate – construction 3 — 181 184 — 741,620 741,804 Real estate – commercial 1,303 1,004 16,423 18,730 — 3,147,192 3,165,922 Real estate – residential 1,034 6 1,344 2,384 — 545,966 548,350 Real estate – HELOC 588 — 4,736 5,324 — 706,470 711,794 Consumer: Consumer – credit card 2,228 2,115 475 4,818 — 265,280 270,098 Consumer – other 1,061 181 11,315 12,557 800 126,205 139,562 Leases — — — — — 39,532 39,532 Total loans $ 10,114 $ 3,365 $ 70,259 $ 83,738 $ 800 $ 10,455,845 $ 10,540,383 The Company had total purchased credit impaired (PCI) loans from its acquisition of Marquette Financial Companies (Marquette) of $800 thousand as of December 31, 2016. The PCI loans are accounted for in accordance with ASC Topic 310-30, Loans and Debt Securities Purchased with Deteriorated Credit Quality. The Company sold residential real estate loans with proceeds of $55.1 million and $61.7 million in the secondary market without recourse during the nine months ended September 30, 2017 and September 30, 2016, respectively. The Company has ceased the recognition of interest on loans with a carrying value of $54.2 million and $70.3 million at September 30, 2017 and December 31, 2016, respectively. Restructured loans totaled $49.2 million and $52.5 million at September 30, 2017 and December 31, 2016, respectively. Loans 90 days past due and still accruing interest amounted to $2.1 million and $3.4 million at September 30, 2017 and December 31, 2016, respectively. There was an insignificant amount of interest recognized on impaired loans during 2017 and 2016. Credit Quality Indicators As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to the risk grading of specified classes of loans, net charge-offs, non-performing loans, and general economic conditions. The Company utilizes a risk grading matrix to assign a rating to each of its commercial, commercial real estate, and construction real estate loans. The loan ratings are summarized into the following categories: Non-watch list, Watch, Special Mention, and Substandard. Any loan not classified in one of the categories described below is considered to be a Non-watch list loan. A description of the general characteristics of the loan rating categories is as follows: • Watch – This rating represents credit exposure that presents higher than average risk and warrants greater than routine attention by Company personnel due to conditions affecting the borrower, the borrower’s industry or the economic environment. These conditions have resulted in some degree of uncertainty that results in higher than average credit risk. • Special Mention – This rating reflects a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or the borrower’s credit position at some future date. The rating is not adversely classified and does not expose an institution to sufficient risk to warrant adverse classification. • Substandard – This rating represents an asset inadequately protected by the current sound worth and paying capacity of the borrower or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Loans in this category are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Loss potential, while existing in the aggregate amount of substandard assets, does not have to exist in individual assets classified substandard. This category may include loans where the collection of full principal is doubtful or remote. All other classes of loans are generally evaluated and monitored based on payment activity. Non-performing loans include restructured loans on non-accrual and all other non-accrual loans. This table provides an analysis of the credit risk profile of each loan class excluded from ASC 310-30 at September 30, 2017 and December 31, 2016 (in thousands): Credit Exposure Credit Risk Profile by Risk Rating Commercial Asset-based Factoring September 30, December 31, September 30, December 31, September 30, December 31, 2017 2016 2017 2016 2017 2016 Non-watch list $ 3,987,758 $ 4,043,704 $ 270,418 $ 198,695 $ 193,264 $ 139,358 Watch 69,066 99,815 — — — — Special Mention 110,140 32,240 39,612 24,809 2,224 129 Substandard 254,601 235,047 — 2,374 394 415 Total $ 4,421,565 $ 4,410,806 $ 310,030 $ 225,878 $ 195,882 $ 139,902 Real estate – construction Real estate – commercial September 30, December 31, September 30, December 31, 2017 2016 2017 2016 Non-watch list $ 804,932 $ 741,022 $ 3,233,122 $ 3,071,804 Watch 1,445 149 48,898 43,015 Special Mention 3,281 — 33,901 5,140 Substandard 402 633 45,306 45,963 Total $ 810,060 $ 741,804 $ 3,361,227 $ 3,165,922 Credit Exposure Credit Risk Profile Based on Payment Activity Commercial – credit card Real estate – residential Real estate – HELOC September 30, December 31, September 30, December 31, September 30, December 31, 2017 2016 2017 2016 2017 2016 Performing $ 174,782 $ 146,727 $ 613,851 $ 547,006 $ 658,853 $ 707,058 Non-performing — 8 745 1,344 3,138 4,736 Total $ 174,782 $ 146,735 $ 614,596 $ 548,350 $ 661,991 $ 711,794 Consumer – credit card Consumer – other Leases September 30, December 31, September 30, December 31, September 30, December 31, 2017 2016 2017 2016 2017 2016 Performing $ 243,378 $ 269,623 $ 178,693 $ 127,447 $ 24,445 $ 39,532 Non-performing 357 475 22 11,315 — — Total $ 243,735 $ 270,098 $ 178,715 $ 138,762 $ 24,445 $ 39,532 Allowance for Loan Losses The allowance for loan losses is a reserve established through a provision for loan losses charged to expense, which represents management’s judgment of inherent probable losses within the Company’s loan portfolio as of the balance sheet date. The allowance is necessary to reserve for estimated loan losses and risks inherent in the loan portfolio. Accordingly, the methodology is based on historical loss trends. The Company’s process for determining the appropriate level of the allowance for loan losses is designed to account for credit deterioration as it occurs. The provision for probable loan losses reflects loan quality trends, including the levels of, and trends related to, non-accrual loans, past due loans, potential problem loans, criticized loans and net charge-offs or recoveries, among other factors. The level of the allowance reflects management’s continuing evaluation of industry concentrations, specific credit risks, loan loss experience, current loan portfolio quality, present economic, political and regulatory conditions and estimated losses inherent in the current loan portfolio. Portions of the allowance may be allocated for specific loans; however, the entire allowance is available for any loan that, in management’s judgment, should be charged off. While management utilizes its best judgment and information available at the time, the adequacy of the allowance is dependent upon a variety of factors beyond the Company’s control, including, among other things, the performance of the Company’s loan portfolio, the economy, changes in interest rates and changes in the regulatory environment. The Company’s allowance for loan losses consists of specific valuation allowances and general valuation allowances based on historical loan loss experience for similar loans with similar characteristics and trends, general economic conditions and other qualitative risk factors both internal and external to the Company. The allowances established for probable losses on specific loans are based on a regular analysis and evaluation of impaired loans. Loans are classified based on an internal risk grading process that evaluates the obligor’s ability to repay, the underlying collateral, if any, and the economic environment and industry in which the borrower operates. When a loan is considered impaired, the loan is analyzed to determine the need, if any, to specifically allocate a portion of the allowance for loan losses to the loan. Specific valuation allowances are determined by analyzing the borrower’s ability to repay amounts owed, collateral deficiencies, the relative risk rating of the loan and economic conditions affecting the borrower’s industry. General valuation allowances are calculated based on the historical loss experience of specific types of loans including an evaluation of the time span and volume of the actual charge-off. The Company calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool. The historical loss ratios are updated based on actual charge-off experience. A valuation allowance is established for each pool of similar loans based upon the product of the historical loss ratio, time span to charge-off, and the total dollar amount of the loans in the pool. The Company’s pools of similar loans include similarly risk-graded groups of commercial loans, commercial real estate loans, commercial credit card, home equity loans, consumer real estate loans and consumer and other loans. The Company also considers a loan migration analysis for criticized loans. This analysis includes an assessment of the probability that a loan will move to a loss position based on its risk rating. The consumer credit card pool is evaluated based on delinquencies and credit scores. In addition, a portion of the allowance is determined by a review of qualitative factors by management. Generally, the unsecured portion of a commercial or commercial real estate loan is charged off when, after analyzing the borrower’s financial condition, it is determined that the borrower is incapable of servicing the debt, little or no prospect for near term improvement exists, and no realistic and significant strengthening action is pending. For collateral dependent commercial or commercial real estate loans, an analysis is completed regarding the Company’s collateral position to determine if the amounts due from the borrower are in excess of the calculated current fair value of the collateral. Specific allocations of the allowance for loan losses are made for any collateral deficiency. If a collateral deficiency is ultimately deemed to be uncollectible, the amount is charged off. Revolving commercial loans (such as commercial credit cards) which are past due 90 cumulative days are classified as a loss and charged off. Generally, a consumer loan, or a portion thereof, is charged off in accordance with regulatory guidelines which provide that such loans be charged off when the Company becomes aware of the loss, such as from a triggering event that may include, but is not limited to, new information about a borrower’s intent and ability to repay the loan, bankruptcy, fraud, or death. However, the charge-off timeframe should not exceed the specified delinquency time frames, which state that closed-end retail loans (such as real estate mortgages, home equity loans and consumer installment loans) that become past due ALLOWANCE FOR LOAN LOSSES AND RECORDED INVESTMENT IN LOANS This table provides a rollforward of the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2017 (in thousands): Three Months Ended September 30, 2017 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 76,858 $ 11,905 $ 8,961 $ 73 $ 97,797 Charge-offs (9,151 ) (439 ) (2,281 ) — (11,871 ) Recoveries 190 201 572 — 963 Provision 8,166 1,844 1,495 (5 ) 11,500 Ending balance $ 76,063 $ 13,511 $ 8,747 $ 68 $ 98,389 Nine Months Ended September 30, 2017 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 71,657 $ 10,569 $ 9,311 $ 112 $ 91,649 Charge-offs (24,734 ) (888 ) (7,442 ) — (33,064 ) Recoveries 2,519 620 1,665 — 4,804 Provision 26,621 3,210 5,213 (44 ) 35,000 Ending balance $ 76,063 $ 13,511 $ 8,747 $ 68 $ 98,389 Ending balance: individually evaluated for impairment $ 3,060 $ 125 $ — $ — $ 3,185 Ending balance: collectively evaluated for impairment 73,003 13,386 8,747 68 95,204 Loans: Ending balance: loans $ 5,102,259 $ 5,447,874 $ 422,450 $ 24,445 $ 10,997,028 Ending balance: individually evaluated for impairment 62,872 8,310 — — 71,182 Ending balance: collectively evaluated for impairment 5,039,387 5,439,564 422,450 24,445 10,925,846 This table provides a rollforward of the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2016 (in thousands): Three Months Ended September 30, 2016 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 64,561 $ 10,683 $ 9,319 $ 103 $ 84,666 Charge-offs (5,667 ) (142 ) (2,335 ) — (8,144 ) Recoveries 129 209 544 — 882 Provision 4,844 6,280 1,888 (12 ) 13,000 Ending balance $ 63,867 $ 17,030 $ 9,416 $ 91 $ 90,404 Nine Months Ended September 30, 2016 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 63,847 $ 8,220 $ 8,949 $ 127 $ 81,143 Charge-offs (11,542 ) (2,938 ) (6,951 ) — (21,431 ) Recoveries 3,477 540 1,675 — 5,692 Provision 8,085 11,208 5,743 (36 ) 25,000 Ending balance $ 63,867 $ 17,030 $ 9,416 $ 91 $ 90,404 Ending balance: individually evaluated for impairment $ 1,759 $ 4,726 $ — $ — $ 6,485 Ending balance: collectively evaluated for impairment 62,108 12,304 9,416 91 83,919 Loans: Ending balance: loans $ 4,948,341 $ 4,926,253 $ 387,371 $ 31,529 $ 10,293,494 Ending balance: individually evaluated for impairment 80,769 16,122 2,158 — 99,049 Ending balance: collectively evaluated for impairment 4,867,572 4,910,131 384,178 31,529 10,193,410 Ending balance: PCI Loans — — 1,035 — 1,035 Impaired Loans This table provides an analysis of impaired loans by class at September 30, 2017 and December 31, 2016 (in thousands): As of September 30, 2017 Unpaid Principal Balance Recorded Investment with No Allowance Recorded Investment with Allowance Total Recorded Investment Related Allowance Average Recorded Investment Commercial: Commercial $ 83,289 $ 42,987 $ 19,885 $ 62,872 $ 3,060 $ 68,724 Asset-based — — — — — — Factoring — — — — — — Commercial – credit card — — — — — — Real estate: Real estate – construction 108 93 — 93 — 199 Real estate – commercial 11,586 6,825 1,173 7,998 51 10,592 Real estate – residential 223 121 98 219 74 174 Real estate – HELOC — — — — — — Consumer: Consumer – credit card — — — — — — Consumer – other — — — — — 8 Leases — — — — — — Total $ 95,206 $ 50,026 $ 21,156 $ 71,182 $ 3,185 $ 79,697 As of December 31, 2016 Unpaid Principal Balance Recorded Investment with No Allowance Recorded Investment with Allowance Total Recorded Investment Related Allowance Average Recorded Investment Commercial: Commercial $ 80,405 $ 43,260 $ 31,091 $ 74,351 $ 7,866 $ 69,776 Asset-based — — — — — — Factoring — — — — — — Commercial – credit card — — — — — — Real estate: Real estate – construction 510 181 113 294 68 405 Real estate – commercial 18,107 12,303 487 12,790 — 8,956 Real estate – residential 231 230 — 230 — 520 Real estate – HELOC — — — — — 79 Consumer: Consumer – credit card — — — — — — Consumer – other — — — — — 1,981 Leases — — — — — — Total $ 99,253 $ 55,974 $ 31,691 $ 87,665 $ 7,934 $ 81,717 Troubled Debt Restructurings A loan modification is considered a troubled debt restructuring (TDR) when a concession has been granted to a debtor experiencing financial difficulties. The Company’s modifications generally include interest rate adjustments, principal reductions, and amortization and maturity date extensions. These modifications allow the debtor short-term cash relief to allow them to improve their financial condition. The Company’s restructured loans are individually evaluated for impairment and evaluated as part of the allowance for loan loss as described above in the Allowance for Loan Losses section of this note. The Company had $2.4 million and $148 thousand in commitments to lend to borrowers with loan modifications classified as TDRs as of September 30, 2017 and September 30, 2016, respectively. The Company monitors loan payments on an on-going basis to determine if a loan is considered to have a payment default. Determination of payment default involves analyzing the economic conditions that exist for each customer and their ability to generate positive cash flows during the loan term. For the three month period ended September 30, 2017, the Company had one residential real estate TDR with a pre-modification loan balance of $97 thousand and a post-modification loan balance of $98 thousand. For the three month period ended September 30, 2016, the Company had one one commercial TDR with a pre- and post-modification loan balance of $12.7 million. For the nine months ended September 30, 2017, the Company had one commercial and one residential real estate TDR with a pre- and post-modification loan balance of $7.3 million. For the nine months ended September 30, 2016, the Company had three commercial TDRs with a pre- and post-modification balance of $24.8 million. |
Securities
Securities | 9 Months Ended |
Sep. 30, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
Securities | 5. Securities Securities Available for Sale This table provides detailed information about securities available for sale at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury $ 40,090 $ 10 $ (1,159 ) $ 38,941 U.S. Agencies 14,758 — (1 ) 14,757 Mortgage-backed 3,267,134 3,336 (47,048 ) 3,223,422 State and political subdivisions 2,542,275 20,584 (9,595 ) 2,553,264 Corporates 18,586 1 (11 ) 18,576 Total $ 5,882,843 $ 23,931 $ (57,814 ) $ 5,848,960 December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury $ 95,315 $ 37 $ (1,526 ) $ 93,826 U.S. Agencies 198,158 67 (48 ) 198,177 Mortgage-backed 3,773,090 7,069 (68,460 ) 3,711,699 State and political subdivisions 2,425,155 7,391 (36,789 ) 2,395,757 Corporates 66,997 5 (127 ) 66,875 Total $ 6,558,715 $ 14,569 $ (106,950 ) $ 6,466,334 The following table presents contractual maturity information for securities available for sale at September 30, 2017 (in thousands): Amortized Fair Cost Value Due in 1 year or less $ 282,095 $ 282,264 Due after 1 year through 5 years 1,128,049 1,136,754 Due after 5 years through 10 years 846,560 849,476 Due after 10 years 359,005 357,044 Total 2,615,709 2,625,538 Mortgage-backed securities 3,267,134 3,223,422 Total securities available for sale $ 5,882,843 $ 5,848,960 Securities may be disposed of before contractual maturities due to sales by the Company or because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. For the nine months ended September 30, 2017, proceeds from the sales of securities available for sale were $573.1 million compared to $951.3 million for the same period in 2016. Securities transactions resulted in gross realized gains of $4.1 million and $8.5 million for the nine months ended September 30, 2017 and 2016, respectively. There were no gross realized losses for the nine months ended September 30, 2017 and gross realized losses of $1 thousand for the nine months ended September 30, 2016. Securities available for sale with a market value of $4.9 billion at September 30, 2017 and $5.7 billion at December 31, 2016 were pledged to secure U.S. Government deposits, other public deposits, certain trust deposits, derivative transactions, and repurchase agreements. Of this amount, securities with a market value of $1.8 billion at both September 30, 2017 and The following table shows the Company’s available for sale investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 Less than 12 months 12 months or more Total Description of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury $ — $ — $ 29,026 $ (1,159 ) $ 29,026 $ (1,159 ) U.S. Agencies 11,184 (1 ) — — 11,184 (1 ) Mortgage-backed 1,680,656 (14,636 ) 1,113,725 (32,412 ) 2,794,381 (47,048 ) State and political subdivisions 512,368 (2,532 ) 369,661 (7,063 ) 882,029 (9,595 ) Corporates 16,361 (11 ) — — 16,361 (11 ) Total $ 2,220,569 $ (17,180 ) $ 1,512,412 $ (40,634 ) $ 3,732,981 $ (57,814 ) December 31, 2016 Less than 12 months 12 months or more Total Description of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury $ 48,678 $ (1,526 ) $ — $ — $ 48,678 $ (1,526 ) U.S. Agencies 103,979 (34 ) 9,989 (14 ) 113,968 (48 ) Mortgage-backed 2,735,868 (55,035 ) 269,637 (13,425 ) 3,005,505 (68,460 ) State and political subdivisions 1,748,922 (36,639 ) 8,565 (150 ) 1,757,487 (36,789 ) Corporates 41,966 (90 ) 17,982 (37 ) 59,948 (127 ) Total $ 4,679,413 $ (93,324 ) $ 306,173 $ (13,626 ) $ 4,985,586 $ (106,950 ) The unrealized losses in the Company’s investments in U.S. treasury obligations, U.S. government agencies, Government Sponsored Entity (GSE) mortgage-backed securities, municipal securities, and corporates were caused by changes in interest rates. The Company does not have the intent to sell these securities and does not believe it is more likely than not that the Company will be required to sell these securities before a recovery of amortized cost. The Company expects to recover its cost basis in the securities and does not consider these investments to be other-than-temporarily impaired at September 30, 2017. Securities Held to Maturity The following table shows the Company’s held to maturity investments’ amortized cost, fair value, and gross unrealized gains and losses at September 30, 2017 and December 31, 2016, respectively (in thousands): Gross Gross Amortized Unrealized Unrealized Fair September 30, 2017 Cost Gains Losses Value State and political subdivisions: Due in 1 year or less $ 4,674 $ 3 $ (11 ) $ 4,666 Due after 1 year through 5 years 103,885 2,756 (2,652 ) 103,989 Due after 5 years through 10 years 375,612 5,040 (21,040 ) 359,612 Due after 10 years 792,081 5,816 (84,417 ) 713,480 Total state and political subdivisions $ 1,276,252 $ 13,615 $ (108,120 ) $ 1,181,747 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2016 Cost Gains Losses Value State and political subdivisions: Due in 1 year or less $ 6,077 $ 5 $ (947 ) $ 5,135 Due after 1 year through 5 years 82,650 2,376 (1,474 ) 83,552 Due after 5 years through 10 years 341,741 8,854 (3,021 ) 347,574 Due after 10 years 685,464 15,717 (31,415 ) 669,766 Total state and political subdivisions $ 1,115,932 $ 26,952 $ (36,857 ) $ 1,106,027 Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. There were no sales of securities held to maturity during the nine months ended September 30, 2017 or 2016. Trading Securities The net unrealized losses on trading securities at September 30, 2017 were $214 thousand and the net unrealized gains on trading securities at September 30, 2016 were $14 thousand. These unrealized gains and losses were included in trading and investment banking income on the Consolidated Statements of Income. In order to offset interest rate risk exposure within the trading portfolio, the Company has begun short selling U.S. Treasury and Corporate securities in which the Company enters into agreements to sell securities at a fixed price on a fixed date prior to purchasing the related securities. Securities sold not yet purchased totaled $3.3 million at September 30, 2017 and is classified within the Other liabilities line of the Company’s Consolidated Balance Sheets. Other Securities The table below provides detailed information for Federal Reserve Bank (FRB) stock and Federal Home Loan Bank (FHLB) stock and other securities at September 30, 2017 and December 31, 2016 (in thousands): Gross Gross Amortized Unrealized Unrealized Fair September 30, 2017 Cost Gains Losses Value FRB and FHLB stock $ 33,262 $ — $ — $ 33,262 Other securities – marketable 3 5,167 — 5,170 Other securities – non-marketable 23,328 1,783 — 25,111 Total Other securities $ 56,593 $ 6,950 $ — $ 63,543 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2016 Cost Gains Losses Value FRB and FHLB stock $ 33,262 $ — $ — $ 33,262 Other securities – marketable 4 9,948 — 9,952 Other securities – non-marketable 24,272 820 — 25,092 Total Other securities $ 57,538 $ 10,768 $ — $ 68,306 Investment in FRB stock is based on the capital structure of the investing bank, and investment in FHLB stock is mainly tied to the level of borrowings from the FHLB. These holdings are carried at cost. Other marketable and non-marketable securities include Prairie Capital Management (PCM) alternative investments in hedge funds and private equity funds, which are accounted for as equity-method investments. The fair value of other marketable securities includes alternative investment securities of $5.2 million at September 30, 2017 and $10.0 million at December 31, 2016. The fair value of other non-marketable securities includes alternative investment securities of $3.0 million at September 30, 2017 and $2.0 million at December 31, 2016. Unrealized gains or losses on alternative investments are recognized in the Equity (losses) earnings line on alternative investments of the Company’s Consolidated Statements of Income. |
Goodwill and Other Intangibles
Goodwill and Other Intangibles | 9 Months Ended |
Sep. 30, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangibles | 6. Goodwill and Other Intangibles Changes in the carrying amount of goodwill for the periods ended September 30, 2017 and December 31, 2016 by reportable segment are as follows (in thousands): Bank Institutional Investment Management Asset Servicing Total Balances as of January 1, 2017 $ 161,391 $ 47,529 $ 19,476 $ 228,396 Discontinued assets — (47,529 ) — (47,529 ) Balances as of September 30, 2017 $ 161,391 $ — $ 19,476 $ 180,867 Balances as of January 1, 2016 $ 161,341 $ 47,529 $ 19,476 $ 228,346 Acquisition of Marquette 50 — — 50 Discontinued assets — (47,529 ) — (47,529 ) Balances as of December 31, 2016 $ 161,391 $ — $ 19,476 $ 180,867 The following table lists the finite-lived intangible assets that continue to be subject to amortization as of September 30, 2017 and December 31, 2016 (in thousands) As of September 30, 2017 Core Deposit Intangible Assets Customer Relationships Other Intangible Assets Total Gross carrying amount $ 50,059 $ 74,243 $ 3,254 $ 127,556 Accumulated amortization 41,424 59,401 3,254 104,079 Net carrying amount $ 8,635 $ 14,842 $ — $ 23,477 As of December 31, 2016 Core Deposit Intangible Assets Customer Relationships Other Intangible Assets Total Gross carrying amount $ 47,527 $ 74,243 $ 3,254 $ 125,024 Accumulated amortization 39,040 56,352 3,002 98,394 Net carrying amount $ 8,487 $ 17,891 $ 252 $ 26,630 The following table has the aggregate amortization expense recognized in each period (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Aggregate amortization expense $ 1,715 $ 2,088 $ 5,685 $ 6,644 The following table lists estimated amortization expense of intangible assets in future periods (in thousands): For the three months ending December 31, 2017 $ 1,679 For the year ending December 31, 2018 6,126 For the year ending December 31, 2019 5,063 For the year ending December 31, 2020 4,044 For the year ending December 31, 2021 2,975 For the year ending December 31, 2022 1,971 |
Securities Sold Under Agreement
Securities Sold Under Agreements to Repurchase | 9 Months Ended |
Sep. 30, 2017 | |
Banking And Thrift [Abstract] | |
Securities Sold Under Agreements to Repurchase | 7. Securities Sold Under Agreements to Repurchase The Company utilizes repurchase agreements to facilitate the needs of customers and to facilitate secured short-term funding needs. Repurchase agreements are stated at the amount of cash received in connection with the transaction. The Company monitors collateral levels on a continuous basis and may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with the Company’s safekeeping agents. The table below presents the remaining contractual maturities of repurchase agreements outstanding at September 30, 2017, in addition to the various types of marketable securities that have been pledged as collateral for these borrowings (in thousands): As of September 30, 2017 Remaining Contractual Maturities of the Agreements Repurchase agreements, secured by: On Demand 2-29 Days Over 90 Days Total U.S. Treasury $ — $ 13,376 $ — $ 13,376 U.S. Agencies 2,500 1,019,353 800 1,022,653 Total repurchase agreements $ 2,500 $ 1,032,729 $ 800 $ 1,036,029 |
Business Segment Reporting
Business Segment Reporting | 9 Months Ended |
Sep. 30, 2017 | |
Segment Reporting [Abstract] | |
Business Segment Reporting | 8. Business Segment Reporting The Company has strategically aligned its operations into the following two reportable segments (collectively, the Business Segments): Bank and Asset Servicing. Senior executive officers regularly evaluate business segment financial results produced by the Company’s internal reporting system in deciding how to allocate resources and assess performance for individual Business Segments. Previously, the Company had the following three Business Segments: Bank, Institutional Investment Management, and Asset Servicing. On April 20, 2017, the Company announced the execution of an agreement to sell all of the outstanding stock of Scout, its institutional investment management subsidiary. As the operations of Scout are now included in discontinued operations, the Company no longer presents this segment’s operations as one of its business segments. The Company’s reportable segments include certain corporate overhead, technology and service costs that are allocated based on methodologies that are applied consistently between periods. For comparability purposes, amounts in all periods are based on methodologies in effect at September 30, 2017. Previously reported results have been reclassified in this filing to conform to the current organizational structure. The following summaries provide information about the activities of each segment: The Bank Asset Servicing provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts. Services include fund administration, fund accounting, investor services, transfer agency, distribution, marketing, custody, alternative investment services, and collective and multiple-series trust services. Business Segment Information Segment financial results were as follows (in thousands): Three Months Ended September 30, 2017 Bank Asset Servicing Total Net interest income $ 137,331 $ 3,527 $ 140,858 Provision for loan losses 11,500 — 11,500 Noninterest income 79,759 24,547 104,306 Noninterest expense 150,057 21,764 171,821 Income before taxes 55,533 6,310 61,843 Income tax expense 11,649 1,322 12,971 Income from continuing operations $ 43,884 $ 4,988 $ 48,872 Average assets $ 19,542,050 $ 770,950 $ 20,313,000 Three Months Ended September 30, 2016 Bank Asset Servicing Total Net interest income $ 121,963 $ 2,802 $ 124,765 Provision for loan losses 13,000 — 13,000 Noninterest income 80,540 23,002 103,542 Noninterest expense 144,450 20,761 165,211 Income before taxes 45,053 5,043 50,096 Income tax expense 9,560 1,114 10,674 Income from continuing operations $ 35,493 $ 3,929 $ 39,422 Average assets $ 18,441,950 $ 1,250,050 $ 19,692,000 Nine Months Ended September 30, 2017 Bank Asset Servicing Total Net interest income $ 403,450 $ 9,117 $ 412,567 Provision for loan losses 35,000 — 35,000 Noninterest income 245,583 71,946 317,529 Noninterest expense 456,680 65,890 522,570 Income before taxes 157,353 15,173 172,526 Income tax expense 33,733 3,174 36,907 Income from continuing operations $ 123,620 $ 11,999 $ 135,619 Average assets $ 19,501,000 $ 787,000 $ 20,288,000 Nine Months Ended September 30, 2016 Bank Asset Total Net interest income $ 355,847 $ 8,020 $ 363,867 Provision for loan losses 25,000 — 25,000 Noninterest income 234,643 69,638 304,281 Noninterest expense 435,708 63,190 498,898 Income before taxes 129,782 14,468 144,250 Income tax expense 30,478 3,538 34,016 Income from continuing operations $ 99,304 $ 10,930 $ 110,234 Average assets $ 18,205,900 $ 1,282,100 $ 19,488,000 |
Commitments, Contingencies and
Commitments, Contingencies and Guarantees | 9 Months Ended |
Sep. 30, 2017 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments, Contingencies and Guarantees | 9. Commitments, Contingencies and Guarantees In the normal course of business, the Company is party to financial instruments with off-balance-sheet risk in order to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These financial instruments include commitments to extend credit, commercial letters of credit, standby letters of credit, forward foreign exchange contracts and spot foreign exchange contracts. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the Consolidated Balance Sheets. The contractual or notional amount of those instruments reflects the extent of involvement the Company has in particular classes of financial instruments. Many of the commitments expire without being drawn upon; therefore, the total amount of these commitments does not necessarily represent the future cash requirements of the Company. The Company’s exposure to credit loss in the event of nonperformance by the counterparty to the financial instruments for commitments to extend credit, commercial letters of credit, and standby letters of credit is represented by the contract or notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. The following table summarizes the Company’s off-balance sheet financial instruments. Contract or Notional Amount (in thousands): September 30, December 31, 2017 2016 Commitments to extend credit for loans (excluding credit card loans) $ 6,451,746 $ 6,471,404 Commitments to extend credit under credit card loans 2,952,064 2,798,433 Commercial letters of credit 659 1,098 Standby letters of credit 305,756 376,617 Forward contracts 46,793 49,352 Spot foreign exchange contracts 1,185 3,725 |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 9 Months Ended |
Sep. 30, 2017 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | 10. Derivatives and Hedging Activities Risk Management Objective of Using Derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to certain fixed rate assets and liabilities. The Company also has interest rate derivatives that result from a service provided to certain qualifying customers and, therefore, are not used to manage interest rate risk of the Company’s assets or liabilities. The Company has entered into an offsetting position for each of these derivative instruments with a matching instrument from another financial institution in order to minimize its net risk exposure resulting from such transactions. Fair Values of Derivative Instruments on the Consolidated Balance Sheets The table below presents the fair value of the Company’s derivative financial instruments as of September 30, 2017 and December 31, 2016. The Company’s derivative assets and derivative liabilities are located within Other assets and Other liabilities, respectively, on the Company’s Consolidated Balance Sheets. This table provides a summary of the fair value of the Company’s derivative assets and liabilities as of September 30, 2017 and December 31, 2016 ( in thousands Derivative Assets Derivative Liabilities September 30, December 31, September 30, December 31, Fair Value 2017 2016 2017 2016 Interest Rate Products: Derivatives not designated as hedging instruments $ 11,692 $ 10,555 $ 7,276 $ 10,581 Derivatives designated as hedging instruments 102 318 1,608 748 Total $ 11,794 $ 10,873 $ 8,884 $ 11,329 Fair Value Hedges of Interest Rate Risk The Company is exposed to changes in the fair value of certain of its fixed rate assets and liabilities due to changes in the benchmark interest rate, LIBOR. Interest rate swaps designated as fair value hedges involve either making fixed rate payments to a counterparty in exchange for the Company receiving variable rate payments, or making variable rate payments to a counterparty in exchange for the Company receiving fixed rate payments, over the life of the agreements without the exchange of the underlying notional amount. As of September 30, 2017, the Company had two interest rate swaps with a notional amount of $15.6 million that were designated as fair value hedges of interest rate risk associated with the Company’s fixed rate loan assets and brokered time deposits. For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in earnings. The Company includes the gain or loss on the hedged items in the same line item as the offsetting loss or gain on the related derivatives. Cash Flow Hedges of Interest Rate Risk The Company is exposed to changes in the fair value of certain of its variable-rate liabilities due to changes in the benchmark interest rate, LIBOR. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. As of September 30, 2017, the Company had two interest rate swaps with a notional amount of $51.5 million that were designated as cash flow hedges of interest rate risk associated with the Company’s variable rate subordinated debentures issued by Marquette Capital Trusts III and IV. For derivatives designated and that qualify as cash flow hedges, the effective portion of changes in fair value is recorded in accumulated other comprehensive income (AOCI) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly into earnings for the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk. During the three and nine months ended September 30, 2017, the Company recognized net losses of $169 thousand and $1.1 million, respectively, in AOCI for the effective portion of the change in fair value of these cash flow hedges. During the three and nine months ended September 30, 2016, the Company recognized net losses of $643 thousand and $7.7 million, respectively, in AOCI for the effective portion of the change in fair value of these cash flow hedges. During the three and nine months ended September 30, 2017 and September 30, 2016, the Company did not record any hedge ineffectiveness in earnings. Amounts reported in AOCI related to derivatives will be reclassified to Interest expense as interest payments are received or paid on the Company’s derivatives. The Company does not expect to reclassify any amounts from AOCI to Interest expense during the next 12 months as the Company’s derivatives are effective after December 2018. As of September 30, 2017, the Company is hedging its exposure to the variability in future cash flows for forecasted transactions over a maximum period of 19.0 years. Non-designated Hedges The remainder of the Company’s derivatives are not designated in qualifying hedging relationships. Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain customers. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously offset by interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. As of September 30, 2017, the Company had 76 interest rate swaps with an aggregate notional amount of $947.3 million related to this program. During the three and nine months ended September 30, 2017, the Company recognized $140 thousand and $656 thousand of net losses, respectively, related to changes in fair value of these swaps. During the three and nine months ended September 30, 2016, the Company recognized $76 thousand and $868 thousand of net losses, respectively, related to changes in the fair value of these swaps. Effect of Derivative Instruments on the Consolidated Statements of Income This table provides a summary of the amount of gain or loss recognized in other noninterest expense in the Consolidated Statements of Income related to the Company’s derivative assets and liabilities for the three and nine months ended September 30, 2017 and September 30, 2016 (in thousands) Amount of Gain (Loss) Recognized For the Three Months Ended For the Nine Months Ended September 30, September 30, September 30, September 30, 2017 2016 2017 2016 Interest Rate Products Derivatives not designated as hedging instruments $ (140 ) $ (76 ) $ (656 ) $ (868 ) Total $ (140 ) $ (76 ) $ (656 ) $ (868 ) Interest Rate Products Derivatives designated as hedging instruments: Fair value adjustments on derivatives $ (56 ) $ (64 ) $ (188 ) $ (395 ) Fair value adjustments on hedged items 55 63 189 392 Total $ (1 ) $ (1 ) $ 1 $ (3 ) This table provides a summary of the amount of gain or loss recognized in AOCI in the Consolidated Statements of Comprehensive Income related to the Company’s derivative assets and liabilities as of September 30, 2017 and September 30, 2016 (in thousands) Amount of Loss Recognized in Other Comprehensive Income on Derivatives (Effective Portion) For the Three Months Ended For the Nine Months Ended September 30, September 30, September 30, September 30, Derivatives in Cash Flow Hedging Relationships 2017 2016 2017 2016 Interest Rate Products Derivatives designated as cash flow hedging instruments $ (169 ) $ (643 ) $ (1,080 ) $ (7,677 ) Total $ (169 ) $ (643 ) $ (1,080 ) $ (7,677 ) Credit-risk-related Contingent Features The Company has agreements with certain of its derivative counterparties that contain a provision that if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. As of September 30, 2017, the termination value of derivatives in a net liability position, which includes accrued interest, related to these agreements was $10.7 million. The Company has minimum collateral posting thresholds with certain of its derivative counterparties. At September 30, 2017 the Company had posted $557 thousand of collateral. If the Company had breached any of these provisions at September 30, 2017, it could have been required to settle its obligations under the agreements at the termination value. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 11. Fair Value Measurements The following table presents information about the Company’s assets measured at fair value on a recurring basis as of September 30, 2017, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. Fair values determined by Level 1 inputs utilize quoted prices in active markets for identical assets and liabilities that the Company has the ability to access. Fair values determined by Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. In certain cases, the inputs used to measure fair value may fall into different levels of the hierarchy. In such cases, the fair value is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Assets measured at fair value on a recurring basis as of September 30, 2017 and December 31, 2016 (in thousands): Fair Value Measurement at September 30, 2017 Description September 30, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets U.S. Treasury $ 25 $ 25 $ — $ — U.S. Agencies 6,255 — 6,255 — Mortgage-backed 2,555 — 2,555 — State and political subdivisions 36,192 — 36,192 — Corporates 3,294 3,294 — — Trading – other 12,339 11,766 573 — Trading securities 60,660 15,085 45,575 — U.S. Treasury 38,941 38,941 — — U.S. Agencies 14,757 — 14,757 — Mortgage-backed 3,223,422 — 3,223,422 — State and political subdivisions 2,553,264 — 2,553,264 — Corporates 18,576 18,576 — — Available for sale securities 5,848,960 57,517 5,791,443 — Company-owned life insurance 59,431 — 59,431 — Bank-owned life insurance 264,741 — 264,741 — Derivatives 11,794 — 11,794 — Total $ 6,245,586 $ 72,602 $ 6,172,984 $ — Liabilities Deferred compensation $ 57,048 $ 57,048 $ — $ — Derivatives 8,884 — 8,884 — Securities sold not yet purchased 3,266 — 3,266 — Total $ 69,198 $ 57,048 $ 12,150 $ — Fair Value Measurement at December 31, 2016 Description December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets U.S. Treasury $ — $ — $ — $ — U.S. Agencies 1,306 — 1,306 — Mortgage-backed 313 — 313 — State and political subdivisions 9,295 — 9,295 — Trading – other 28,622 28,495 127 — Trading securities 39,536 28,495 11,041 — U.S. Treasury 93,826 93,826 — — U.S. Agencies 198,177 — 198,177 — Mortgage-backed 3,711,699 — 3,711,699 — State and political subdivisions 2,395,757 — 2,395,757 — Corporates 66,875 66,875 — — Available for sale securities 6,466,334 160,701 6,305,633 — Company-owned life insurance 41,333 — 41,333 — Bank-owned life insurance 209,686 — 209,686 — Derivatives 10,873 — 10,873 — Total $ 6,767,762 $ 189,196 $ 6,578,566 $ — Liabilities Deferred compensation $ 42,797 $ 42,797 $ — $ — Derivatives 11,329 — 11,329 — Total $ 54,126 $ 42,797 $ 11,329 $ — Valuation methods for instruments measured at fair value on a recurring basis The following methods and assumptions were used to estimate the fair value of each class of financial instruments measured on a recurring basis: Trading Securities Fair values for trading securities (including financial futures), are based on quoted market prices where available. If quoted market prices are not available, fair values are based on quoted market prices for similar securities. Securities Available for Sale Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Prices are provided by third-party pricing services and are based on observable market inputs. On an annual basis, the Company compares a sample of these prices to other independent sources for the same securities. Additionally, throughout the year if securities are sold, comparisons are made between the pricing services prices and the market prices at which the securities were sold. Variances are analyzed, and, if appropriate, additional research is conducted with the third-party pricing services. Based on this research, the pricing services may affirm or revise their quoted price. No significant adjustments have been made to the prices provided by the pricing services. The pricing services also provide documentation on an ongoing basis that includes reference data, inputs and methodology by asset class, which is reviewed to ensure that security placement within the fair value hierarchy is appropriate. Company-owned Life Insurance Fair value is equal to the cash surrender value of the life insurance policies. Bank-owned Life Insurance Fair value is equal to the cash surrender value of the life insurance policies. Derivatives Fair values are determined using valuation techniques including discounted cash flow analysis on the expected cash flows from each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, foreign exchange rates, and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Deferred Compensation Fair values are based on quoted market prices. Securities sold not yet purchased Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Prices are provided by third-party pricing services and are based on observable market inputs. Assets measured at fair value on a non-recurring basis as of September 30, 2017 and December 31, 2016 (in thousands): Fair Value Measurement at September 30, 2017 Using Description September 30, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Recognized During the Nine Months Ended September 30 Impaired loans $ 17,971 $ — $ — $ 17,971 $ 4,749 Other real estate owned 712 — — 712 — Total $ 18,683 $ — $ — $ 18,683 $ 4,749 Fair Value Measurement at December 31, 2016 Using Description December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Recognized During the Twelve Months Ended December 31 Impaired loans $ 23,757 $ — $ — $ 23,757 $ (2,070 ) Other real estate owned 89 — — 89 — Total $ 23,846 $ — $ — $ 23,846 $ (2,070 ) Valuation methods for instruments measured at fair value on a nonrecurring basis The following methods and assumptions were used to estimate the fair value of each class of financial instruments measured on a non-recurring basis: Impaired loans While the overall loan portfolio is not carried at fair value, adjustments are recorded on certain loans to reflect write-downs that are based on the external appraised value of the underlying collateral. The external appraisals are generally based on recent sales of comparable properties which are then adjusted for the unique characteristics of the property being valued. In the case of non-real estate collateral, reliance is placed on a variety of sources, including external estimates of value and judgments based on the experience and expertise of internal specialists within the Company’s property management group and the Company’s credit department. The valuation of the impaired loans is reviewed on a quarterly basis. Because many of these inputs are not observable, the measurements are classified as Level 3. Other real estate owned Other real estate owned consists of loan collateral which has been repossessed through foreclosure. This collateral is comprised of commercial and residential real estate and other non-real estate property, including auto, recreational and marine vehicles. Other real estate owned is recorded as held for sale initially at the lower of the loan balance or fair value of the collateral. The initial valuation of the foreclosed property is obtained through an appraisal process similar to the process described in the impaired loans paragraph above. Subsequent to foreclosure, valuations are reviewed quarterly and updated periodically, and the assets may be marked down further, reflecting a new cost basis. Fair value measurements may be based upon appraisals, third-party price opinions, or internally developed pricing methods and those measurements are classified as Level 3. Goodwill Valuation of goodwill to determine impairment is performed annually, or more frequently if there is an event or circumstance that would indicate impairment may have occurred. The process involves calculations to determine the fair value of each reporting unit on a stand-alone basis. A combination of formulas using current market multiples, based on recent sales of financial institutions within the Company’s geographic marketplace, is used to estimate the fair value of each reporting unit. That fair value is compared to the carrying amount of the reporting unit, including its recorded goodwill. Impairment is considered to have occurred if the fair value of the reporting unit is lower than the carrying amount of the reporting unit. The fair value of the Company’s common stock relative to its computed book value per share is also considered as part of the overall evaluation. These measurements are classified as Level 3. Fair value disclosures require disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The estimated fair value of the Company’s financial instruments at September 30, 2017 and December 31, 2016 are as follows (in thousands): Fair Value Measurement at September 30, 2017 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Estimated Fair Value FINANCIAL ASSETS Cash and short-term investments $ 832,461 $ 591,172 $ 241,289 $ — $ 832,461 Securities available for sale 5,848,960 57,517 5,791,443 — 5,848,960 Securities held to maturity 1,276,252 — 1,181,747 — 1,181,747 Trading securities 60,660 15,085 45,575 — 60,660 Other securities 63,543 — 63,543 — 63,543 Loans (exclusive of allowance for loan loss) 11,001,553 — 11,052,253 — 11,052,253 Derivatives 11,794 — 11,794 — 11,794 FINANCIAL LIABILITIES Demand and savings deposits 14,875,196 14,875,196 — — 14,875,196 Time deposits 1,124,408 — 1,124,408 — 1,124,408 Other borrowings 1,856,837 820,808 1,036,029 — 1,856,837 Long-term debt 76,071 — 76,330 — 76,330 Derivatives 8,884 — 8,884 — 8,884 OFF-BALANCE SHEET ARRANGEMENTS Commitments to extend credit for loans 5,140 Commercial letters of credit 97 Standby letters of credit 1,887 Fair Value Measurement at December 31, 2016 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Estimated Fair Value FINANCIAL ASSETS Cash and short-term investments $ 1,462,267 $ 1,138,850 $ 323,417 $ — $ 1,462,267 Securities available for sale 6,466,334 160,701 6,305,633 — 6,466,334 Securities held to maturity 1,115,932 — 1,106,027 — 1,106,027 Trading securities 39,536 28,495 11,041 — 39,536 Other securities 68,306 — 68,306 — 68,306 Loans (exclusive of allowance for loan loss) 10,545,662 — 10,572,292 — 10,572,292 Derivatives 10,873 — 10,873 — 10,873 FINANCIAL LIABILITIES Demand and savings deposits 15,434,893 15,434,893 — — 15,434,893 Time deposits 1,135,721 — 1,135,721 — 1,135,721 Other borrowings 1,856,937 419,843 1,437,094 — 1,856,937 Long-term debt 76,772 — 77,025 — 77,025 Derivatives 11,329 — 11,329 — 11,329 OFF-BALANCE SHEET ARRANGEMENTS Commitments to extend credit for loans 5,604 Commercial letters of credit 142 Standby letters of credit 2,527 Cash and short-term investments The carrying amounts of cash and due from banks, federal funds sold and resell agreements are reasonable estimates of their fair values. Securities held to maturity Fair value of held-to-maturity securities are estimated by discounting the future cash flows using current market rates. Other securities Amount consists of FRB and FHLB stock held by the Company, PCM equity-method investments, and other miscellaneous investments. The carrying amount of the FRB and FHLB stock equals its fair value because the shares can only be redeemed by the FRB and FHLB at their carrying amount. The fair value of PCM marketable equity-method investments are based on quoted market prices used to estimate the value of the underlying investment. For non-marketable equity-method investments, the Company’s proportionate share of the income or loss is recognized on a one-quarter lag based on the valuation of the underlying investment(s). Loans Fair values are estimated for portfolios with similar financial characteristics. Loans are segregated by type, such as commercial, real estate, consumer, and credit card. Each loan category is further segmented into fixed and variable interest rate categories. The fair value of loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Demand and savings deposits The fair value of demand deposits and savings accounts is the amount payable on demand at September 30, 2017 and December 31, 2016. Time deposits The fair value of fixed-maturity certificates of deposit is estimated by discounting the future cash flows using the rates that are currently offered for deposits of similar remaining maturities. Other borrowings The carrying amounts of federal funds purchased, repurchase agreements and other short-term debt are reasonable estimates of their fair value because of the short-term nature of their maturities. Long-term debt Rates currently available to the Company for debt with similar terms and remaining maturities are used to estimate fair value of existing debt. Other off-balance sheet instruments The fair value of loan commitments and letters of credit are determined based on the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreement and the present creditworthiness of the counterparties. Neither the fees earned during the year on these instruments nor their fair value at period-end are significant to the Company’s consolidated financial position. |
Discontinued Operations
Discontinued Operations | 9 Months Ended |
Sep. 30, 2017 | |
Discontinued Operations And Disposal Groups [Abstract] | |
Discontinued Operations | 12. Discontinued Operations On April 20, 2017, the Company announced the execution of an agreement to sell all of the outstanding stock of Scout, its institutional investment management subsidiary, for $172.5 million in cash, subject to customary purchase price adjustments at closing. The Company plans to use the proceeds from the transaction for general corporate purposes and to support its continued organic growth in the commercial, consumer, private wealth, institutional banking, healthcare, and asset servicing businesses. This table summarizes the components of (loss) income from discontinued operations, net of taxes, for the three and nine months ended September 30, 2017 and September 30, 2016 presented in the Consolidated Statements of Income are as follows (in thousands) For the Three Months Ended For the Nine Months Ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Total noninterest income $ 18,193 $ 18,406 $ 53,912 $ 55,464 Total noninterest expense 19,223 14,572 54,634 46,672 (Loss) income from discontinued operations (1,030 ) 3,834 (722 ) 8,792 Income tax (benefit) expense (300 ) 1,310 (247 ) 3,159 Net (loss) income on discontinued operations $ (730 ) $ 2,524 $ (475 ) $ 5,633 The discontinued assets of Scout included on the Consolidated Balance Sheets are as follows (in thousands) September 30, December 31, 2017 2016 Goodwill $ 47,529 $ 47,529 Other intangibles, net 6,214 7,861 Discontinued assets – goodwill and other intangibles, net $ 53,743 $ 55,390 The components of net cash provided by operating activities of discontinued operations included in the Consolidated Statements of Cash Flows are as follows (in thousands) Nine Months Ended September 30, 2017 2016 (Loss) income from discontinued operations $ (475 ) $ 5,633 Depreciation and amortization 1,647 2,719 Net cash provided by operating activities of discontinued operations $ 1,172 $ 8,352 |
Summary of Significant Accoun21
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Nature of Operations | The Company is a financial holding company, which offers a wide range of banking and other financial services to its customers through its branches and offices in Missouri, Kansas, Colorado, Illinois, Oklahoma, Texas, Arizona, Nebraska, Pennsylvania, South Dakota, Indiana, Utah, Minnesota, California, and Wisconsin. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. These estimates and assumptions also impact reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. A summary of the significant accounting policies to assist the reader in understanding the financial presentation is provided in the Notes to Consolidated Financial Statements in the Form 10-K. |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents include Cash and due from banks and amounts due from the Federal Reserve Bank. Cash on hand, cash items in the process of collection, and amounts due from correspondent banks are included in Cash and due from banks. Amounts due from the Federal Reserve Bank are interest-bearing for all periods presented and are included in the Interest-bearing due from banks line on the Company’s Consolidated Balance Sheets. This table provides a summary of cash and cash equivalents as presented on the Consolidated Statements of Cash Flows as of September 30, 2017 and September 30, 2016 (in thousands) September 30, 2017 2016 Due from the Federal Reserve Bank $ 182,047 $ 356,410 Cash and due from banks 366,169 354,184 Cash and cash equivalents at end of period $ 548,216 $ 710,594 Also included in the Interest-bearing due from banks, but not considered cash and cash equivalents, are interest-bearing accounts held at other financial institutions, which totaled $39.8 million and $96.8 million at September 30, 2017 and September 30, 2016, respectively. |
Per Share Data | Per Share Data Basic net income per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted quarter-to-date net income per share includes the dilutive effect of 549,819 and 435,029 shares issuable upon the exercise of options granted by the Company and outstanding at September 30, 2017 and 2016, respectively. Diluted year-to-date net income per share includes the dilutive effect of 616,990 and 369,781 shares issuable upon the exercise of stock options granted by the Company and outstanding at September 30, 2017 and 2016, respectively. Options issued under employee benefits plans to purchase 150,739 shares of common stock were outstanding at September 30, 2017, but were not included in the computation of quarter-to-date and year-to-date diluted EPS because the options were anti-dilutive. Options issued under employee benefits plans to purchase 394,863 shares of common stock were outstanding at September 30, 2016, but were not included in the computation of quarter-to-date diluted EPS because the options were anti-dilutive. Options issued under employee benefits plans to purchase 628,698 shares of common stock were outstanding at September 30, 2016, but were not included in the computation of year-to-date diluted EPS because the options were anti-dilutive. |
Summary of Significant Accoun22
Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Summary of Cash and Cash Equivalents | This table provides a summary of cash and cash equivalents as presented on the Consolidated Statements of Cash Flows as of September 30, 2017 and September 30, 2016 (in thousands) September 30, 2017 2016 Due from the Federal Reserve Bank $ 182,047 $ 356,410 Cash and due from banks 366,169 354,184 Cash and cash equivalents at end of period $ 548,216 $ 710,594 |
Loans and Allowance for Loan 23
Loans and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
Summary of Loan Classes and Aging of Past Due Loans | This table provides a summary of loan classes and an aging of past due loans at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 30-89 Days Past Due and Accruing Greater than 90 Days Past Due and Accruing Non- Accrual Loans Total Past Due Current Total Loans Loans Commercial: Commercial $ 15,092 $ 59 $ 39,107 $ 54,258 $ 4,367,307 $ 4,421,565 Asset-based — — — — 310,030 310,030 Factoring — — — — 195,882 195,882 Commercial – credit card 325 98 — 423 174,359 174,782 Real estate: Real estate – construction 547 4 93 644 809,416 810,060 Real estate – commercial 4,522 — 10,769 15,291 3,345,936 3,361,227 Real estate – residential 943 157 745 1,845 612,751 614,596 Real estate – HELOC 397 — 3,138 3,535 658,456 661,991 Consumer: Consumer – credit card 1,913 1,721 357 3,991 239,744 243,735 Consumer – other 613 49 22 684 178,031 178,715 Leases — — — — 24,445 24,445 Total loans $ 24,352 $ 2,088 $ 54,231 $ 80,671 $ 10,916,357 $ 10,997,028 December 31, 2016 30-89 Days Past Due and Accruing Greater than 90 Days Past Due and Accruing Non- Accrual Loans Total Past Due PCI Loans Current Total Loans Loans Commercial: Commercial $ 3,285 $ 49 $ 35,777 $ 39,111 $ — $ 4,371,695 $ 4,410,806 Asset-based — — — — — 225,878 225,878 Factoring — — — — — 139,902 139,902 Commercial – credit card 612 10 8 630 — 146,105 146,735 Real estate: Real estate – construction 3 — 181 184 — 741,620 741,804 Real estate – commercial 1,303 1,004 16,423 18,730 — 3,147,192 3,165,922 Real estate – residential 1,034 6 1,344 2,384 — 545,966 548,350 Real estate – HELOC 588 — 4,736 5,324 — 706,470 711,794 Consumer: Consumer – credit card 2,228 2,115 475 4,818 — 265,280 270,098 Consumer – other 1,061 181 11,315 12,557 800 126,205 139,562 Leases — — — — — 39,532 39,532 Total loans $ 10,114 $ 3,365 $ 70,259 $ 83,738 $ 800 $ 10,455,845 $ 10,540,383 |
Credit Risk Profile by Risk Rating and Based on Payment Activity | This table provides an analysis of the credit risk profile of each loan class excluded from ASC 310-30 at September 30, 2017 and December 31, 2016 (in thousands): Credit Exposure Credit Risk Profile by Risk Rating Commercial Asset-based Factoring September 30, December 31, September 30, December 31, September 30, December 31, 2017 2016 2017 2016 2017 2016 Non-watch list $ 3,987,758 $ 4,043,704 $ 270,418 $ 198,695 $ 193,264 $ 139,358 Watch 69,066 99,815 — — — — Special Mention 110,140 32,240 39,612 24,809 2,224 129 Substandard 254,601 235,047 — 2,374 394 415 Total $ 4,421,565 $ 4,410,806 $ 310,030 $ 225,878 $ 195,882 $ 139,902 Real estate – construction Real estate – commercial September 30, December 31, September 30, December 31, 2017 2016 2017 2016 Non-watch list $ 804,932 $ 741,022 $ 3,233,122 $ 3,071,804 Watch 1,445 149 48,898 43,015 Special Mention 3,281 — 33,901 5,140 Substandard 402 633 45,306 45,963 Total $ 810,060 $ 741,804 $ 3,361,227 $ 3,165,922 Credit Exposure Credit Risk Profile Based on Payment Activity Commercial – credit card Real estate – residential Real estate – HELOC September 30, December 31, September 30, December 31, September 30, December 31, 2017 2016 2017 2016 2017 2016 Performing $ 174,782 $ 146,727 $ 613,851 $ 547,006 $ 658,853 $ 707,058 Non-performing — 8 745 1,344 3,138 4,736 Total $ 174,782 $ 146,735 $ 614,596 $ 548,350 $ 661,991 $ 711,794 Consumer – credit card Consumer – other Leases September 30, December 31, September 30, December 31, September 30, December 31, 2017 2016 2017 2016 2017 2016 Performing $ 243,378 $ 269,623 $ 178,693 $ 127,447 $ 24,445 $ 39,532 Non-performing 357 475 22 11,315 — — Total $ 243,735 $ 270,098 $ 178,715 $ 138,762 $ 24,445 $ 39,532 |
Rollforward of Allowance for Loan Losses by Portfolio Segment | This table provides a rollforward of the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2017 (in thousands): Three Months Ended September 30, 2017 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 76,858 $ 11,905 $ 8,961 $ 73 $ 97,797 Charge-offs (9,151 ) (439 ) (2,281 ) — (11,871 ) Recoveries 190 201 572 — 963 Provision 8,166 1,844 1,495 (5 ) 11,500 Ending balance $ 76,063 $ 13,511 $ 8,747 $ 68 $ 98,389 Nine Months Ended September 30, 2017 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 71,657 $ 10,569 $ 9,311 $ 112 $ 91,649 Charge-offs (24,734 ) (888 ) (7,442 ) — (33,064 ) Recoveries 2,519 620 1,665 — 4,804 Provision 26,621 3,210 5,213 (44 ) 35,000 Ending balance $ 76,063 $ 13,511 $ 8,747 $ 68 $ 98,389 Ending balance: individually evaluated for impairment $ 3,060 $ 125 $ — $ — $ 3,185 Ending balance: collectively evaluated for impairment 73,003 13,386 8,747 68 95,204 Loans: Ending balance: loans $ 5,102,259 $ 5,447,874 $ 422,450 $ 24,445 $ 10,997,028 Ending balance: individually evaluated for impairment 62,872 8,310 — — 71,182 Ending balance: collectively evaluated for impairment 5,039,387 5,439,564 422,450 24,445 10,925,846 This table provides a rollforward of the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2016 (in thousands): Three Months Ended September 30, 2016 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 64,561 $ 10,683 $ 9,319 $ 103 $ 84,666 Charge-offs (5,667 ) (142 ) (2,335 ) — (8,144 ) Recoveries 129 209 544 — 882 Provision 4,844 6,280 1,888 (12 ) 13,000 Ending balance $ 63,867 $ 17,030 $ 9,416 $ 91 $ 90,404 Nine Months Ended September 30, 2016 Commercial Real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 63,847 $ 8,220 $ 8,949 $ 127 $ 81,143 Charge-offs (11,542 ) (2,938 ) (6,951 ) — (21,431 ) Recoveries 3,477 540 1,675 — 5,692 Provision 8,085 11,208 5,743 (36 ) 25,000 Ending balance $ 63,867 $ 17,030 $ 9,416 $ 91 $ 90,404 Ending balance: individually evaluated for impairment $ 1,759 $ 4,726 $ — $ — $ 6,485 Ending balance: collectively evaluated for impairment 62,108 12,304 9,416 91 83,919 Loans: Ending balance: loans $ 4,948,341 $ 4,926,253 $ 387,371 $ 31,529 $ 10,293,494 Ending balance: individually evaluated for impairment 80,769 16,122 2,158 — 99,049 Ending balance: collectively evaluated for impairment 4,867,572 4,910,131 384,178 31,529 10,193,410 Ending balance: PCI Loans — — 1,035 — 1,035 |
Analysis of Impaired Loans | This table provides an analysis of impaired loans by class at September 30, 2017 and December 31, 2016 (in thousands): As of September 30, 2017 Unpaid Principal Balance Recorded Investment with No Allowance Recorded Investment with Allowance Total Recorded Investment Related Allowance Average Recorded Investment Commercial: Commercial $ 83,289 $ 42,987 $ 19,885 $ 62,872 $ 3,060 $ 68,724 Asset-based — — — — — — Factoring — — — — — — Commercial – credit card — — — — — — Real estate: Real estate – construction 108 93 — 93 — 199 Real estate – commercial 11,586 6,825 1,173 7,998 51 10,592 Real estate – residential 223 121 98 219 74 174 Real estate – HELOC — — — — — — Consumer: Consumer – credit card — — — — — — Consumer – other — — — — — 8 Leases — — — — — — Total $ 95,206 $ 50,026 $ 21,156 $ 71,182 $ 3,185 $ 79,697 As of December 31, 2016 Unpaid Principal Balance Recorded Investment with No Allowance Recorded Investment with Allowance Total Recorded Investment Related Allowance Average Recorded Investment Commercial: Commercial $ 80,405 $ 43,260 $ 31,091 $ 74,351 $ 7,866 $ 69,776 Asset-based — — — — — — Factoring — — — — — — Commercial – credit card — — — — — — Real estate: Real estate – construction 510 181 113 294 68 405 Real estate – commercial 18,107 12,303 487 12,790 — 8,956 Real estate – residential 231 230 — 230 — 520 Real estate – HELOC — — — — — 79 Consumer: Consumer – credit card — — — — — — Consumer – other — — — — — 1,981 Leases — — — — — — Total $ 99,253 $ 55,974 $ 31,691 $ 87,665 $ 7,934 $ 81,717 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Securities Available for Sale | This table provides detailed information about securities available for sale at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury $ 40,090 $ 10 $ (1,159 ) $ 38,941 U.S. Agencies 14,758 — (1 ) 14,757 Mortgage-backed 3,267,134 3,336 (47,048 ) 3,223,422 State and political subdivisions 2,542,275 20,584 (9,595 ) 2,553,264 Corporates 18,586 1 (11 ) 18,576 Total $ 5,882,843 $ 23,931 $ (57,814 ) $ 5,848,960 December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury $ 95,315 $ 37 $ (1,526 ) $ 93,826 U.S. Agencies 198,158 67 (48 ) 198,177 Mortgage-backed 3,773,090 7,069 (68,460 ) 3,711,699 State and political subdivisions 2,425,155 7,391 (36,789 ) 2,395,757 Corporates 66,997 5 (127 ) 66,875 Total $ 6,558,715 $ 14,569 $ (106,950 ) $ 6,466,334 |
Gross Unrealized Losses and Fair Value of Investment Securities Available for Sale | The following table shows the Company’s available for sale investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 Less than 12 months 12 months or more Total Description of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury $ — $ — $ 29,026 $ (1,159 ) $ 29,026 $ (1,159 ) U.S. Agencies 11,184 (1 ) — — 11,184 (1 ) Mortgage-backed 1,680,656 (14,636 ) 1,113,725 (32,412 ) 2,794,381 (47,048 ) State and political subdivisions 512,368 (2,532 ) 369,661 (7,063 ) 882,029 (9,595 ) Corporates 16,361 (11 ) — — 16,361 (11 ) Total $ 2,220,569 $ (17,180 ) $ 1,512,412 $ (40,634 ) $ 3,732,981 $ (57,814 ) December 31, 2016 Less than 12 months 12 months or more Total Description of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury $ 48,678 $ (1,526 ) $ — $ — $ 48,678 $ (1,526 ) U.S. Agencies 103,979 (34 ) 9,989 (14 ) 113,968 (48 ) Mortgage-backed 2,735,868 (55,035 ) 269,637 (13,425 ) 3,005,505 (68,460 ) State and political subdivisions 1,748,922 (36,639 ) 8,565 (150 ) 1,757,487 (36,789 ) Corporates 41,966 (90 ) 17,982 (37 ) 59,948 (127 ) Total $ 4,679,413 $ (93,324 ) $ 306,173 $ (13,626 ) $ 4,985,586 $ (106,950 ) |
Schedule of Federal Reserve Bank Stock and Federal Home Loan Bank Stock and Other Securities | The table below provides detailed information for Federal Reserve Bank (FRB) stock and Federal Home Loan Bank (FHLB) stock and other securities at September 30, 2017 and December 31, 2016 (in thousands): Gross Gross Amortized Unrealized Unrealized Fair September 30, 2017 Cost Gains Losses Value FRB and FHLB stock $ 33,262 $ — $ — $ 33,262 Other securities – marketable 3 5,167 — 5,170 Other securities – non-marketable 23,328 1,783 — 25,111 Total Other securities $ 56,593 $ 6,950 $ — $ 63,543 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2016 Cost Gains Losses Value FRB and FHLB stock $ 33,262 $ — $ — $ 33,262 Other securities – marketable 4 9,948 — 9,952 Other securities – non-marketable 24,272 820 — 25,092 Total Other securities $ 57,538 $ 10,768 $ — $ 68,306 |
Available-for-sale Securities [Member] | |
Contractual Maturity Information | The following table presents contractual maturity information for securities available for sale at September 30, 2017 (in thousands): Amortized Fair Cost Value Due in 1 year or less $ 282,095 $ 282,264 Due after 1 year through 5 years 1,128,049 1,136,754 Due after 5 years through 10 years 846,560 849,476 Due after 10 years 359,005 357,044 Total 2,615,709 2,625,538 Mortgage-backed securities 3,267,134 3,223,422 Total securities available for sale $ 5,882,843 $ 5,848,960 |
Held-to-maturity Securities [Member] | |
Contractual Maturity Information | The following table shows the Company’s held to maturity investments’ amortized cost, fair value, and gross unrealized gains and losses at September 30, 2017 and December 31, 2016, respectively (in thousands): Gross Gross Amortized Unrealized Unrealized Fair September 30, 2017 Cost Gains Losses Value State and political subdivisions: Due in 1 year or less $ 4,674 $ 3 $ (11 ) $ 4,666 Due after 1 year through 5 years 103,885 2,756 (2,652 ) 103,989 Due after 5 years through 10 years 375,612 5,040 (21,040 ) 359,612 Due after 10 years 792,081 5,816 (84,417 ) 713,480 Total state and political subdivisions $ 1,276,252 $ 13,615 $ (108,120 ) $ 1,181,747 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2016 Cost Gains Losses Value State and political subdivisions: Due in 1 year or less $ 6,077 $ 5 $ (947 ) $ 5,135 Due after 1 year through 5 years 82,650 2,376 (1,474 ) 83,552 Due after 5 years through 10 years 341,741 8,854 (3,021 ) 347,574 Due after 10 years 685,464 15,717 (31,415 ) 669,766 Total state and political subdivisions $ 1,115,932 $ 26,952 $ (36,857 ) $ 1,106,027 |
Goodwill and Other Intangibles
Goodwill and Other Intangibles (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Changes in Carrying Amount of Goodwill | Changes in the carrying amount of goodwill for the periods ended September 30, 2017 and December 31, 2016 by reportable segment are as follows (in thousands): Bank Institutional Investment Management Asset Servicing Total Balances as of January 1, 2017 $ 161,391 $ 47,529 $ 19,476 $ 228,396 Discontinued assets — (47,529 ) — (47,529 ) Balances as of September 30, 2017 $ 161,391 $ — $ 19,476 $ 180,867 Balances as of January 1, 2016 $ 161,341 $ 47,529 $ 19,476 $ 228,346 Acquisition of Marquette 50 — — 50 Discontinued assets — (47,529 ) — (47,529 ) Balances as of December 31, 2016 $ 161,391 $ — $ 19,476 $ 180,867 |
Changes in Intangible Assets | The following table lists the finite-lived intangible assets that continue to be subject to amortization as of September 30, 2017 and December 31, 2016 (in thousands) As of September 30, 2017 Core Deposit Intangible Assets Customer Relationships Other Intangible Assets Total Gross carrying amount $ 50,059 $ 74,243 $ 3,254 $ 127,556 Accumulated amortization 41,424 59,401 3,254 104,079 Net carrying amount $ 8,635 $ 14,842 $ — $ 23,477 As of December 31, 2016 Core Deposit Intangible Assets Customer Relationships Other Intangible Assets Total Gross carrying amount $ 47,527 $ 74,243 $ 3,254 $ 125,024 Accumulated amortization 39,040 56,352 3,002 98,394 Net carrying amount $ 8,487 $ 17,891 $ 252 $ 26,630 |
Aggregate Amortization Expense Recognized | The following table has the aggregate amortization expense recognized in each period (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Aggregate amortization expense $ 1,715 $ 2,088 $ 5,685 $ 6,644 |
Estimated Amortization Expense of Intangible Assets | The following table lists estimated amortization expense of intangible assets in future periods (in thousands): For the three months ending December 31, 2017 $ 1,679 For the year ending December 31, 2018 6,126 For the year ending December 31, 2019 5,063 For the year ending December 31, 2020 4,044 For the year ending December 31, 2021 2,975 For the year ending December 31, 2022 1,971 |
Securities Sold Under Agreeme26
Securities Sold Under Agreements to Repurchase (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Repurchase Agreements | |
Remaining Contractual Maturities Of Repurchase Agreements | The table below presents the remaining contractual maturities of repurchase agreements outstanding at September 30, 2017, in addition to the various types of marketable securities that have been pledged as collateral for these borrowings (in thousands): As of September 30, 2017 Remaining Contractual Maturities of the Agreements Repurchase agreements, secured by: On Demand 2-29 Days Over 90 Days Total U.S. Treasury $ — $ 13,376 $ — $ 13,376 U.S. Agencies 2,500 1,019,353 800 1,022,653 Total repurchase agreements $ 2,500 $ 1,032,729 $ 800 $ 1,036,029 |
Business Segment Reporting (Tab
Business Segment Reporting (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Segment Financial Results | Segment financial results were as follows (in thousands) : Three Months Ended September 30, 2017 Bank Asset Servicing Total Net interest income $ 137,331 $ 3,527 $ 140,858 Provision for loan losses 11,500 — 11,500 Noninterest income 79,759 24,547 104,306 Noninterest expense 150,057 21,764 171,821 Income before taxes 55,533 6,310 61,843 Income tax expense 11,649 1,322 12,971 Income from continuing operations $ 43,884 $ 4,988 $ 48,872 Average assets $ 19,542,050 $ 770,950 $ 20,313,000 Three Months Ended September 30, 2016 Bank Asset Servicing Total Net interest income $ 121,963 $ 2,802 $ 124,765 Provision for loan losses 13,000 — 13,000 Noninterest income 80,540 23,002 103,542 Noninterest expense 144,450 20,761 165,211 Income before taxes 45,053 5,043 50,096 Income tax expense 9,560 1,114 10,674 Income from continuing operations $ 35,493 $ 3,929 $ 39,422 Average assets $ 18,441,950 $ 1,250,050 $ 19,692,000 Nine Months Ended September 30, 2017 Bank Asset Servicing Total Net interest income $ 403,450 $ 9,117 $ 412,567 Provision for loan losses 35,000 — 35,000 Noninterest income 245,583 71,946 317,529 Noninterest expense 456,680 65,890 522,570 Income before taxes 157,353 15,173 172,526 Income tax expense 33,733 3,174 36,907 Income from continuing operations $ 123,620 $ 11,999 $ 135,619 Average assets $ 19,501,000 $ 787,000 $ 20,288,000 Nine Months Ended September 30, 2016 Bank Asset Total Net interest income $ 355,847 $ 8,020 $ 363,867 Provision for loan losses 25,000 — 25,000 Noninterest income 234,643 69,638 304,281 Noninterest expense 435,708 63,190 498,898 Income before taxes 129,782 14,468 144,250 Income tax expense 30,478 3,538 34,016 Income from continuing operations $ 99,304 $ 10,930 $ 110,234 Average assets $ 18,205,900 $ 1,282,100 $ 19,488,000 |
Commitments, Contingencies an28
Commitments, Contingencies and Guarantees (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Commitments And Contingencies Disclosure [Abstract] | |
Notional Amount of Off-Balance Sheet Financial Instruments | The following table summarizes the Company’s off-balance sheet financial instruments. Contract or Notional Amount (in thousands): September 30, December 31, 2017 2016 Commitments to extend credit for loans (excluding credit card loans) $ 6,451,746 $ 6,471,404 Commitments to extend credit under credit card loans 2,952,064 2,798,433 Commercial letters of credit 659 1,098 Standby letters of credit 305,756 376,617 Forward contracts 46,793 49,352 Spot foreign exchange contracts 1,185 3,725 |
Derivatives and Hedging Activ29
Derivatives and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary of Fair Value of Derivative Assets and Liabilities | This table provides a summary of the fair value of the Company’s derivative assets and liabilities as of September 30, 2017 and December 31, 2016 ( in thousands Derivative Assets Derivative Liabilities September 30, December 31, September 30, December 31, Fair Value 2017 2016 2017 2016 Interest Rate Products: Derivatives not designated as hedging instruments $ 11,692 $ 10,555 $ 7,276 $ 10,581 Derivatives designated as hedging instruments 102 318 1,608 748 Total $ 11,794 $ 10,873 $ 8,884 $ 11,329 |
Summary of Amount of Gain (Loss) Recognized in Other Non-Interest Expense in Consolidated Statements of Income Related to Derivative Assets and Liabilities | This table provides a summary of the amount of gain or loss recognized in other noninterest expense in the Consolidated Statements of Income related to the Company’s derivative assets and liabilities for the three and nine months ended September 30, 2017 and September 30, 2016 (in thousands) Amount of Gain (Loss) Recognized For the Three Months Ended For the Nine Months Ended September 30, September 30, September 30, September 30, 2017 2016 2017 2016 Interest Rate Products Derivatives not designated as hedging instruments $ (140 ) $ (76 ) $ (656 ) $ (868 ) Total $ (140 ) $ (76 ) $ (656 ) $ (868 ) Interest Rate Products Derivatives designated as hedging instruments: Fair value adjustments on derivatives $ (56 ) $ (64 ) $ (188 ) $ (395 ) Fair value adjustments on hedged items 55 63 189 392 Total $ (1 ) $ (1 ) $ 1 $ (3 ) |
Summary of Amount of Gain (Loss) Recognized in AOCI in Consolidated Statements of Comprehensive Income Related to Company's Derivative Assets and Liabilities | This table provides a summary of the amount of gain or loss recognized in AOCI in the Consolidated Statements of Comprehensive Income related to the Company’s derivative assets and liabilities as of September 30, 2017 and September 30, 2016 (in thousands) Amount of Loss Recognized in Other Comprehensive Income on Derivatives (Effective Portion) For the Three Months Ended For the Nine Months Ended September 30, September 30, September 30, September 30, Derivatives in Cash Flow Hedging Relationships 2017 2016 2017 2016 Interest Rate Products Derivatives designated as cash flow hedging instruments $ (169 ) $ (643 ) $ (1,080 ) $ (7,677 ) Total $ (169 ) $ (643 ) $ (1,080 ) $ (7,677 ) |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets measured at fair value on a recurring basis as of September 30, 2017 and December 31, 2016 (in thousands): Fair Value Measurement at September 30, 2017 Description September 30, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets U.S. Treasury $ 25 $ 25 $ — $ — U.S. Agencies 6,255 — 6,255 — Mortgage-backed 2,555 — 2,555 — State and political subdivisions 36,192 — 36,192 — Corporates 3,294 3,294 — — Trading – other 12,339 11,766 573 — Trading securities 60,660 15,085 45,575 — U.S. Treasury 38,941 38,941 — — U.S. Agencies 14,757 — 14,757 — Mortgage-backed 3,223,422 — 3,223,422 — State and political subdivisions 2,553,264 — 2,553,264 — Corporates 18,576 18,576 — — Available for sale securities 5,848,960 57,517 5,791,443 — Company-owned life insurance 59,431 — 59,431 — Bank-owned life insurance 264,741 — 264,741 — Derivatives 11,794 — 11,794 — Total $ 6,245,586 $ 72,602 $ 6,172,984 $ — Liabilities Deferred compensation $ 57,048 $ 57,048 $ — $ — Derivatives 8,884 — 8,884 — Securities sold not yet purchased 3,266 — 3,266 — Total $ 69,198 $ 57,048 $ 12,150 $ — Fair Value Measurement at December 31, 2016 Description December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets U.S. Treasury $ — $ — $ — $ — U.S. Agencies 1,306 — 1,306 — Mortgage-backed 313 — 313 — State and political subdivisions 9,295 — 9,295 — Trading – other 28,622 28,495 127 — Trading securities 39,536 28,495 11,041 — U.S. Treasury 93,826 93,826 — — U.S. Agencies 198,177 — 198,177 — Mortgage-backed 3,711,699 — 3,711,699 — State and political subdivisions 2,395,757 — 2,395,757 — Corporates 66,875 66,875 — — Available for sale securities 6,466,334 160,701 6,305,633 — Company-owned life insurance 41,333 — 41,333 — Bank-owned life insurance 209,686 — 209,686 — Derivatives 10,873 — 10,873 — Total $ 6,767,762 $ 189,196 $ 6,578,566 $ — Liabilities Deferred compensation $ 42,797 $ 42,797 $ — $ — Derivatives 11,329 — 11,329 — Total $ 54,126 $ 42,797 $ 11,329 $ — |
Assets Measured at Fair Value on Non-Recurring Basis | Assets measured at fair value on a non-recurring basis as of September 30, 2017 and December 31, 2016 (in thousands): Fair Value Measurement at September 30, 2017 Using Description September 30, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Recognized During the Nine Months Ended September 30 Impaired loans $ 17,971 $ — $ — $ 17,971 $ 4,749 Other real estate owned 712 — — 712 — Total $ 18,683 $ — $ — $ 18,683 $ 4,749 Fair Value Measurement at December 31, 2016 Using Description December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Recognized During the Twelve Months Ended December 31 Impaired loans $ 23,757 $ — $ — $ 23,757 $ (2,070 ) Other real estate owned 89 — — 89 — Total $ 23,846 $ — $ — $ 23,846 $ (2,070 ) |
Estimated Fair Value of Financial Instruments | The estimated fair value of the Company’s financial instruments at September 30, 2017 and December 31, 2016 are as follows (in thousands): Fair Value Measurement at September 30, 2017 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Estimated Fair Value FINANCIAL ASSETS Cash and short-term investments $ 832,461 $ 591,172 $ 241,289 $ — $ 832,461 Securities available for sale 5,848,960 57,517 5,791,443 — 5,848,960 Securities held to maturity 1,276,252 — 1,181,747 — 1,181,747 Trading securities 60,660 15,085 45,575 — 60,660 Other securities 63,543 — 63,543 — 63,543 Loans (exclusive of allowance for loan loss) 11,001,553 — 11,052,253 — 11,052,253 Derivatives 11,794 — 11,794 — 11,794 FINANCIAL LIABILITIES Demand and savings deposits 14,875,196 14,875,196 — — 14,875,196 Time deposits 1,124,408 — 1,124,408 — 1,124,408 Other borrowings 1,856,837 820,808 1,036,029 — 1,856,837 Long-term debt 76,071 — 76,330 — 76,330 Derivatives 8,884 — 8,884 — 8,884 OFF-BALANCE SHEET ARRANGEMENTS Commitments to extend credit for loans 5,140 Commercial letters of credit 97 Standby letters of credit 1,887 Fair Value Measurement at December 31, 2016 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Estimated Fair Value FINANCIAL ASSETS Cash and short-term investments $ 1,462,267 $ 1,138,850 $ 323,417 $ — $ 1,462,267 Securities available for sale 6,466,334 160,701 6,305,633 — 6,466,334 Securities held to maturity 1,115,932 — 1,106,027 — 1,106,027 Trading securities 39,536 28,495 11,041 — 39,536 Other securities 68,306 — 68,306 — 68,306 Loans (exclusive of allowance for loan loss) 10,545,662 — 10,572,292 — 10,572,292 Derivatives 10,873 — 10,873 — 10,873 FINANCIAL LIABILITIES Demand and savings deposits 15,434,893 15,434,893 — — 15,434,893 Time deposits 1,135,721 — 1,135,721 — 1,135,721 Other borrowings 1,856,937 419,843 1,437,094 — 1,856,937 Long-term debt 76,772 — 77,025 — 77,025 Derivatives 11,329 — 11,329 — 11,329 OFF-BALANCE SHEET ARRANGEMENTS Commitments to extend credit for loans 5,604 Commercial letters of credit 142 Standby letters of credit 2,527 |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Discontinued Operations And Disposal Groups [Abstract] | |
Schedule of Components of (Loss) Income from Discontinued Operations, Net of Taxes, Consolidated Balance Sheets and Consolidated Statements of Cash Flows | This table summarizes the components of (loss) income from discontinued operations, net of taxes, for the three and nine months ended September 30, 2017 and September 30, 2016 presented in the Consolidated Statements of Income are as follows (in thousands) For the Three Months Ended For the Nine Months Ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Total noninterest income $ 18,193 $ 18,406 $ 53,912 $ 55,464 Total noninterest expense 19,223 14,572 54,634 46,672 (Loss) income from discontinued operations (1,030 ) 3,834 (722 ) 8,792 Income tax (benefit) expense (300 ) 1,310 (247 ) 3,159 Net (loss) income on discontinued operations $ (730 ) $ 2,524 $ (475 ) $ 5,633 The discontinued assets of Scout included on the Consolidated Balance Sheets are as follows (in thousands) September 30, December 31, 2017 2016 Goodwill $ 47,529 $ 47,529 Other intangibles, net 6,214 7,861 Discontinued assets – goodwill and other intangibles, net $ 53,743 $ 55,390 The components of net cash provided by operating activities of discontinued operations included in the Consolidated Statements of Cash Flows are as follows (in thousands) Nine Months Ended September 30, 2017 2016 (Loss) income from discontinued operations $ (475 ) $ 5,633 Depreciation and amortization 1,647 2,719 Net cash provided by operating activities of discontinued operations $ 1,172 $ 8,352 |
Financial Statement Presentat32
Financial Statement Presentation - Additional Information (Detail) $ in Millions | Apr. 20, 2017USD ($) |
Scout Investments Inc [Member] | |
Consideration received on sale of stock of subsidiaries | $ 172.5 |
Summary of Cash and Cash Equiva
Summary of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Accounting Policies [Abstract] | ||||
Due from the Federal Reserve Bank | $ 182,047 | $ 356,410 | ||
Cash and due from banks | 366,169 | $ 422,117 | 354,184 | |
Cash and cash equivalents at end of period | $ 548,216 | $ 1,063,967 | $ 710,594 | $ 819,112 |
Summary of Significant Accoun34
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Accounting Policies [Abstract] | ||||
Interest bearing amounts held at other financial institutions | $ 39.8 | $ 96.8 | $ 39.8 | $ 96.8 |
Dilutive effect of common stock issuable upon exercise of options and nonvested restricted shares | 549,819 | 435,029 | 616,990 | 369,781 |
Anti-dilutive shares | 150,739 | 394,863 | 150,739 | 628,698 |
New Accounting Pronouncements -
New Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2016 | Sep. 30, 2016 | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Cumulative effect adjustment | [1] | $ 482 | |||
Accounting Standards Update 2016-09 [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Recent accounting pronouncement, amount increase in net income | $ 220 | $ 158 | |||
Cumulative effect adjustment | $ 482 | $ 482 | |||
[1] | See Note 3, “New Accounting Pronouncements,” for a discussion of the adoption of Accounting Standards Update (ASU) 2016-09. |
Summary of Loan Classes and Agi
Summary of Loan Classes and Aging of Past Due Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non- Accrual Loans | $ 54,231 | $ 70,259 | |
Total Past Due | 80,671 | 83,738 | |
PCI Loans | 800 | ||
Current | 10,916,357 | 10,455,845 | |
Total Loans | 10,997,028 | 10,540,383 | $ 10,293,494 |
30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 24,352 | 10,114 | |
Greater than 90 days Past Due and Accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 2,088 | 3,365 | |
Real estate - residential [Member] | Prime [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non- Accrual Loans | 745 | 1,344 | |
Total Past Due | 1,845 | 2,384 | |
Current | 612,751 | 545,966 | |
Total Loans | 614,596 | 548,350 | |
Real estate - residential [Member] | 30-89 Days Past Due [Member] | Prime [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 943 | 1,034 | |
Real estate - residential [Member] | Greater than 90 days Past Due and Accruing [Member] | Prime [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 157 | 6 | |
Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 422,450 | 387,371 | |
Leases [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Current | 24,445 | 39,532 | |
Total Loans | 24,445 | 39,532 | $ 31,529 |
Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non- Accrual Loans | 39,107 | 35,777 | |
Total Past Due | 54,258 | 39,111 | |
Current | 4,367,307 | 4,371,695 | |
Total Loans | 4,421,565 | 4,410,806 | |
Commercial [Member] | 30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 15,092 | 3,285 | |
Commercial [Member] | Greater than 90 days Past Due and Accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 59 | 49 | |
Asset-based [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Current | 310,030 | 225,878 | |
Total Loans | 310,030 | 225,878 | |
Factoring [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Current | 195,882 | 139,902 | |
Total Loans | 195,882 | 139,902 | |
Commercial - credit card [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non- Accrual Loans | 8 | ||
Total Past Due | 423 | 630 | |
Current | 174,359 | 146,105 | |
Total Loans | 174,782 | 146,735 | |
Commercial - credit card [Member] | 30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 325 | 612 | |
Commercial - credit card [Member] | Greater than 90 days Past Due and Accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 98 | 10 | |
Construction [Member] | Real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non- Accrual Loans | 93 | 181 | |
Total Past Due | 644 | 184 | |
Current | 809,416 | 741,620 | |
Total Loans | 810,060 | 741,804 | |
Construction [Member] | Real estate [Member] | 30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 547 | 3 | |
Construction [Member] | Real estate [Member] | Greater than 90 days Past Due and Accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 4 | ||
Real estate - commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non- Accrual Loans | 10,769 | 16,423 | |
Total Past Due | 15,291 | 18,730 | |
Current | 3,345,936 | 3,147,192 | |
Total Loans | 3,361,227 | 3,165,922 | |
Real estate - commercial [Member] | 30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 4,522 | 1,303 | |
Real estate - commercial [Member] | Greater than 90 days Past Due and Accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 1,004 | ||
Real estate - HELOC [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non- Accrual Loans | 3,138 | 4,736 | |
Total Past Due | 3,535 | 5,324 | |
Current | 658,456 | 706,470 | |
Total Loans | 661,991 | 711,794 | |
Real estate - HELOC [Member] | 30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 397 | 588 | |
Credit card [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non- Accrual Loans | 357 | 475 | |
Total Past Due | 3,991 | 4,818 | |
Current | 239,744 | 265,280 | |
Total Loans | 243,735 | 270,098 | |
Credit card [Member] | Consumer [Member] | 30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 1,913 | 2,228 | |
Credit card [Member] | Consumer [Member] | Greater than 90 days Past Due and Accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 1,721 | 2,115 | |
Other [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non- Accrual Loans | 22 | 11,315 | |
Total Past Due | 684 | 12,557 | |
PCI Loans | 800 | ||
Current | 178,031 | 126,205 | |
Total Loans | 178,715 | 139,562 | |
Other [Member] | Consumer [Member] | 30-89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | 613 | 1,061 | |
Other [Member] | Consumer [Member] | Greater than 90 days Past Due and Accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Past Due | $ 49 | $ 181 |
Loans and Allowance for Loan 37
Loans and Allowance for Loan Losses - Additional Information (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Total Loans | $ 800 | ||||
Current | $ 10,916,357 | $ 10,916,357 | 10,455,845 | ||
Total Past Due | 80,671 | 80,671 | 83,738 | ||
Proceeds from sales of loans held for sale | 55,149 | $ 61,716 | |||
Non- Accrual Loans | 54,231 | 54,231 | 70,259 | ||
Restructured loans | 49,200 | 49,200 | 52,500 | ||
Commitments to lend to borrowers with loan modifications classified as TDR's | $ 2,400 | $ 148 | 2,400 | $ 148 | |
Real estate - residential [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of Contracts | 1 | ||||
Pre-Modification Outstanding Recorded Investment | $ 97 | ||||
Post-Modification Outstanding Recorded Investment | 98 | ||||
Commercial [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Current | 4,367,307 | 4,367,307 | 4,371,695 | ||
Total Past Due | 54,258 | 54,258 | 39,111 | ||
Non- Accrual Loans | 39,107 | $ 39,107 | 35,777 | ||
Number of Contracts | 1 | 1 | 3 | ||
Pre-Modification Outstanding Recorded Investment | $ 12,700 | $ 7,300 | $ 24,800 | ||
Post-Modification Outstanding Recorded Investment | $ 12,700 | $ 7,300 | $ 24,800 | ||
Revolving Commercial Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of days past due to consider loan as a loss and charged off | 90 days | ||||
Closed-End Retail Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of days past due to consider loan as a loss and charged off | 120 days | ||||
Open-End Retail Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of days past due to consider loan as a loss and charged off | 180 days | ||||
30-89 Days Past Due [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Total Past Due | 24,352 | $ 24,352 | 10,114 | ||
30-89 Days Past Due [Member] | Commercial [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Total Past Due | 15,092 | 15,092 | 3,285 | ||
Greater than 90 days Past Due and Accruing [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Total Past Due | 2,088 | 2,088 | 3,365 | ||
Greater than 90 days Past Due and Accruing [Member] | Commercial [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Total Past Due | $ 59 | $ 59 | 49 | ||
PCI loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Total Loans | 800 | ||||
Current | 713 | ||||
PCI loans [Member] | 30-89 Days Past Due [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Total Past Due | $ 87 |
Credit Risk Profile by Risk Rat
Credit Risk Profile by Risk Rating - Originated and Non-PCI Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | $ 10,997,028 | $ 10,540,383 | $ 10,293,494 |
Commercial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 4,421,565 | 4,410,806 | |
Commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 4,421,565 | 4,410,806 | |
Asset-based [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 310,030 | 225,878 | |
Asset-based [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 310,030 | 225,878 | |
Factoring [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 195,882 | 139,902 | |
Factoring [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 195,882 | 139,902 | |
Real estate - construction [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 810,060 | 741,804 | |
Real estate - commercial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 3,361,227 | 3,165,922 | |
Real estate - commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 3,361,227 | 3,165,922 | |
Non-watch list [Member] | Commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 3,987,758 | 4,043,704 | |
Non-watch list [Member] | Asset-based [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 270,418 | 198,695 | |
Non-watch list [Member] | Factoring [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 193,264 | 139,358 | |
Non-watch list [Member] | Real estate - construction [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 804,932 | 741,022 | |
Non-watch list [Member] | Real estate - commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 3,233,122 | 3,071,804 | |
Watch [Member] | Commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 69,066 | 99,815 | |
Watch [Member] | Real estate - construction [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 1,445 | 149 | |
Watch [Member] | Real estate - commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 48,898 | 43,015 | |
Special Mention [Member] | Commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 110,140 | 32,240 | |
Special Mention [Member] | Asset-based [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 39,612 | 24,809 | |
Special Mention [Member] | Factoring [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 2,224 | 129 | |
Special Mention [Member] | Real estate - construction [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 3,281 | ||
Special Mention [Member] | Real estate - commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 33,901 | 5,140 | |
Substandard [Member] | Commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 254,601 | 235,047 | |
Substandard [Member] | Asset-based [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 2,374 | ||
Substandard [Member] | Factoring [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 394 | 415 | |
Substandard [Member] | Real estate - construction [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | 402 | 633 | |
Substandard [Member] | Real estate - commercial [Member] | Originated and Non-PCI Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile by Risk Rating | $ 45,306 | $ 45,963 |
Credit Risk Profile Based on Pa
Credit Risk Profile Based on Payment Activity - Originated and Non-PCI Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | $ 10,997,028 | $ 10,540,383 | $ 10,293,494 |
Real estate - residential [Member] | Prime [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 614,596 | 548,350 | |
Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 422,450 | 387,371 | |
Leases [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 24,445 | 39,532 | $ 31,529 |
Commercial - credit card [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 174,782 | 146,735 | |
Real estate - HELOC [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 661,991 | 711,794 | |
Credit card [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 243,735 | 270,098 | |
Other [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 178,715 | 139,562 | |
Originated and Non-PCI Loans [Member] | Real estate - residential [Member] | Prime [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 614,596 | 548,350 | |
Originated and Non-PCI Loans [Member] | Leases [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 24,445 | 39,532 | |
Originated and Non-PCI Loans [Member] | Commercial - credit card [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 174,782 | 146,735 | |
Originated and Non-PCI Loans [Member] | Real estate - HELOC [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 661,991 | 711,794 | |
Originated and Non-PCI Loans [Member] | Credit card [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 243,735 | 270,098 | |
Originated and Non-PCI Loans [Member] | Other [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 178,715 | 138,762 | |
Originated and Non-PCI Loans [Member] | Performing [Member] | Real estate - residential [Member] | Prime [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 613,851 | 547,006 | |
Originated and Non-PCI Loans [Member] | Performing [Member] | Leases [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 24,445 | 39,532 | |
Originated and Non-PCI Loans [Member] | Performing [Member] | Commercial - credit card [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 174,782 | 146,727 | |
Originated and Non-PCI Loans [Member] | Performing [Member] | Real estate - HELOC [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 658,853 | 707,058 | |
Originated and Non-PCI Loans [Member] | Performing [Member] | Credit card [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 243,378 | 269,623 | |
Originated and Non-PCI Loans [Member] | Performing [Member] | Other [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 178,693 | 127,447 | |
Originated and Non-PCI Loans [Member] | Non-performing [Member] | Real estate - residential [Member] | Prime [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 745 | 1,344 | |
Originated and Non-PCI Loans [Member] | Non-performing [Member] | Commercial - credit card [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 8 | ||
Originated and Non-PCI Loans [Member] | Non-performing [Member] | Real estate - HELOC [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 3,138 | 4,736 | |
Originated and Non-PCI Loans [Member] | Non-performing [Member] | Credit card [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | 357 | 475 | |
Originated and Non-PCI Loans [Member] | Non-performing [Member] | Other [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Credit Risk Profile Based on Payment Activity | $ 22 | $ 11,315 |
Rollforward of Allowance for Lo
Rollforward of Allowance for Loan Losses by Portfolio Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | $ 97,797 | $ 84,666 | $ 91,649 | $ 81,143 | |
Charge-offs | (11,871) | (8,144) | (33,064) | (21,431) | |
Recoveries | 963 | 882 | 4,804 | 5,692 | |
Provision | 11,500 | 13,000 | 35,000 | 25,000 | |
Ending balance | 98,389 | 90,404 | 98,389 | 90,404 | |
Ending balance: individually evaluated for impairment | 3,185 | 6,485 | 3,185 | 6,485 | $ 7,934 |
Ending balance: collectively evaluated for impairment | 95,204 | 83,919 | 95,204 | 83,919 | |
Ending balance: loans | 10,997,028 | 10,293,494 | 10,997,028 | 10,293,494 | |
Ending balance: individually evaluated for impairment | 71,182 | 99,049 | 71,182 | 99,049 | |
Ending balance: collectively evaluated for impairment | 10,925,846 | 10,193,410 | 10,925,846 | 10,193,410 | |
Ending balance: PCI Loans | 1,035 | 1,035 | |||
Commercial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 76,858 | 64,561 | 71,657 | 63,847 | |
Charge-offs | (9,151) | (5,667) | (24,734) | (11,542) | |
Recoveries | 190 | 129 | 2,519 | 3,477 | |
Provision | 8,166 | 4,844 | 26,621 | 8,085 | |
Ending balance | 76,063 | 63,867 | 76,063 | 63,867 | |
Ending balance: individually evaluated for impairment | 3,060 | 1,759 | 3,060 | 1,759 | |
Ending balance: collectively evaluated for impairment | 73,003 | 62,108 | 73,003 | 62,108 | |
Ending balance: loans | 5,102,259 | 4,948,341 | 5,102,259 | 4,948,341 | |
Ending balance: individually evaluated for impairment | 62,872 | 80,769 | 62,872 | 80,769 | |
Ending balance: collectively evaluated for impairment | 5,039,387 | 4,867,572 | 5,039,387 | 4,867,572 | |
Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 11,905 | 10,683 | 10,569 | 8,220 | |
Charge-offs | (439) | (142) | (888) | (2,938) | |
Recoveries | 201 | 209 | 620 | 540 | |
Provision | 1,844 | 6,280 | 3,210 | 11,208 | |
Ending balance | 13,511 | 17,030 | 13,511 | 17,030 | |
Ending balance: individually evaluated for impairment | 125 | 4,726 | 125 | 4,726 | |
Ending balance: collectively evaluated for impairment | 13,386 | 12,304 | 13,386 | 12,304 | |
Ending balance: loans | 5,447,874 | 4,926,253 | 5,447,874 | 4,926,253 | |
Ending balance: individually evaluated for impairment | 8,310 | 16,122 | 8,310 | 16,122 | |
Ending balance: collectively evaluated for impairment | 5,439,564 | 4,910,131 | 5,439,564 | 4,910,131 | |
Consumer [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 8,961 | 9,319 | 9,311 | 8,949 | |
Charge-offs | (2,281) | (2,335) | (7,442) | (6,951) | |
Recoveries | 572 | 544 | 1,665 | 1,675 | |
Provision | 1,495 | 1,888 | 5,213 | 5,743 | |
Ending balance | 8,747 | 9,416 | 8,747 | 9,416 | |
Ending balance: collectively evaluated for impairment | 8,747 | 9,416 | 8,747 | 9,416 | |
Ending balance: loans | 422,450 | 387,371 | 422,450 | 387,371 | |
Ending balance: individually evaluated for impairment | 2,158 | 2,158 | |||
Ending balance: collectively evaluated for impairment | 422,450 | 384,178 | 422,450 | 384,178 | |
Ending balance: PCI Loans | 1,035 | 1,035 | |||
Leases [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 73 | 103 | 112 | 127 | |
Provision | (5) | (12) | (44) | (36) | |
Ending balance | 68 | 91 | 68 | 91 | |
Ending balance: collectively evaluated for impairment | 68 | 91 | 68 | 91 | |
Ending balance: loans | 24,445 | 31,529 | 24,445 | 31,529 | |
Ending balance: collectively evaluated for impairment | $ 24,445 | $ 31,529 | $ 24,445 | $ 31,529 |
Analysis of Impaired Loans by C
Analysis of Impaired Loans by Class (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Principal Balance | $ 95,206 | $ 99,253 | |
Recorded Investment with No Allowance | 50,026 | 55,974 | |
Recorded Investment with Allowance | 21,156 | 31,691 | |
Total Recorded Investment | 71,182 | 87,665 | |
Related Allowance | 3,185 | 7,934 | $ 6,485 |
Average Recorded Investment | 79,697 | 81,717 | |
Real estate - residential [Member] | Prime [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Principal Balance | 223 | 231 | |
Recorded Investment with No Allowance | 121 | 230 | |
Recorded Investment with Allowance | 98 | ||
Total Recorded Investment | 219 | 230 | |
Related Allowance | 74 | ||
Average Recorded Investment | 174 | 520 | |
Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Principal Balance | 83,289 | 80,405 | |
Recorded Investment with No Allowance | 42,987 | 43,260 | |
Recorded Investment with Allowance | 19,885 | 31,091 | |
Total Recorded Investment | 62,872 | 74,351 | |
Related Allowance | 3,060 | 7,866 | |
Average Recorded Investment | 68,724 | 69,776 | |
Construction [Member] | Real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Principal Balance | 108 | 510 | |
Recorded Investment with No Allowance | 93 | 181 | |
Recorded Investment with Allowance | 113 | ||
Total Recorded Investment | 93 | 294 | |
Related Allowance | 68 | ||
Average Recorded Investment | 199 | 405 | |
Real estate - commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Principal Balance | 11,586 | 18,107 | |
Recorded Investment with No Allowance | 6,825 | 12,303 | |
Recorded Investment with Allowance | 1,173 | 487 | |
Total Recorded Investment | 7,998 | 12,790 | |
Related Allowance | 51 | ||
Average Recorded Investment | 10,592 | 8,956 | |
Real estate - HELOC [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Principal Balance | 0 | 0 | |
Recorded Investment with No Allowance | 0 | 0 | |
Recorded Investment with Allowance | 0 | 0 | |
Total Recorded Investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 79 | |
Other [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Principal Balance | 0 | 0 | |
Recorded Investment with No Allowance | 0 | 0 | |
Recorded Investment with Allowance | 0 | 0 | |
Total Recorded Investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | $ 8 | $ 1,981 |
Securities Available for Sale (
Securities Available for Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 5,882,843 | $ 6,558,715 |
Gross Unrealized Gains | 23,931 | 14,569 |
Gross Unrealized Losses | (57,814) | (106,950) |
Available for sale | 5,848,960 | 6,466,334 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 40,090 | 95,315 |
Gross Unrealized Gains | 10 | 37 |
Gross Unrealized Losses | (1,159) | (1,526) |
Available for sale | 38,941 | 93,826 |
U.S. Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 14,758 | 198,158 |
Gross Unrealized Gains | 67 | |
Gross Unrealized Losses | (1) | (48) |
Available for sale | 14,757 | 198,177 |
Mortgage-backed [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 3,267,134 | 3,773,090 |
Gross Unrealized Gains | 3,336 | 7,069 |
Gross Unrealized Losses | (47,048) | (68,460) |
Available for sale | 3,223,422 | 3,711,699 |
State and political subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,542,275 | 2,425,155 |
Gross Unrealized Gains | 20,584 | 7,391 |
Gross Unrealized Losses | (9,595) | (36,789) |
Available for sale | 2,553,264 | 2,395,757 |
Corporates [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 18,586 | 66,997 |
Gross Unrealized Gains | 1 | 5 |
Gross Unrealized Losses | (11) | (127) |
Available for sale | $ 18,576 | $ 66,875 |
Summary of Contractual Maturity
Summary of Contractual Maturity Information for Securities Available for Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Investments Debt And Equity Securities [Abstract] | ||
Due in 1 year or less, Amortized Cost | $ 282,095 | |
Due after 1 year through 5 years, Amortized Cost | 1,128,049 | |
Due after 5 years through 10 years, Amortized Cost | 846,560 | |
Due after 10 years, Amortized Cost | 359,005 | |
Total, Amortized Cost | 2,615,709 | |
Mortgage-backed securities, Amortized Cost | 3,267,134 | |
Amortized Cost | 5,882,843 | $ 6,558,715 |
Due in 1 year or less, Fair Value | 282,264 | |
Due after 1 year through 5 years, Fair Value | 1,136,754 | |
Due after 5 years through 10 years, Fair Value | 849,476 | |
Due after 10 years, Fair Value | 357,044 | |
Total, Fair Value | 2,625,538 | |
Mortgage-backed securities, Fair Value | 3,223,422 | |
Total securities available for sale, Fair Value | $ 5,848,960 | $ 6,466,334 |
Securities - Additional Informa
Securities - Additional Information (Detail) - USD ($) | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Proceeds from sales of securities available for sale | $ 573,062,000 | $ 951,263,000 | |
Gross realized gains from securities | 4,100,000 | 8,500,000 | |
Gross realized losses from securities | 0 | 1,000 | |
Sales of securities held to maturity | 0 | 0 | |
Unrealized (loss) gain on trading securities | (214,000) | $ 14,000 | |
Securities sold not yet purchased | 3,300,000 | ||
Fair value of other marketable securities | 5,200,000 | $ 10,000,000 | |
Fair value of other non-marketable securities | 3,000,000 | 2,000,000 | |
U.S. Government and Other Public Deposit [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Pledged securities for deposits | 4,900,000,000 | 5,700,000,000 | |
Federal Reserve Discount Window [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Pledged securities for deposits | $ 1,800,000,000 | $ 1,800,000,000 |
Gross Unrealized Losses and Fai
Gross Unrealized Losses and Fair Value of Investment Securities Available for Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 2,220,569 | $ 4,679,413 |
Less than 12 months, Unrealized Losses | (17,180) | (93,324) |
12 months or more, Fair Value | 1,512,412 | 306,173 |
12 months or more, Unrealized Losses | (40,634) | (13,626) |
Total Fair Value | 3,732,981 | 4,985,586 |
Total Unrealized Losses | (57,814) | (106,950) |
U.S. Treasury [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Fair Value | 48,678 | |
Less than 12 months, Unrealized Losses | (1,526) | |
12 months or more, Fair Value | 29,026 | |
12 months or more, Unrealized Losses | (1,159) | |
Total Fair Value | 29,026 | 48,678 |
Total Unrealized Losses | (1,159) | (1,526) |
U.S. Agencies [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Fair Value | 11,184 | 103,979 |
Less than 12 months, Unrealized Losses | (1) | (34) |
12 months or more, Fair Value | 9,989 | |
12 months or more, Unrealized Losses | (14) | |
Total Fair Value | 11,184 | 113,968 |
Total Unrealized Losses | (1) | (48) |
Mortgage-backed [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Fair Value | 1,680,656 | 2,735,868 |
Less than 12 months, Unrealized Losses | (14,636) | (55,035) |
12 months or more, Fair Value | 1,113,725 | 269,637 |
12 months or more, Unrealized Losses | (32,412) | (13,425) |
Total Fair Value | 2,794,381 | 3,005,505 |
Total Unrealized Losses | (47,048) | (68,460) |
State and political subdivisions [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Fair Value | 512,368 | 1,748,922 |
Less than 12 months, Unrealized Losses | (2,532) | (36,639) |
12 months or more, Fair Value | 369,661 | 8,565 |
12 months or more, Unrealized Losses | (7,063) | (150) |
Total Fair Value | 882,029 | 1,757,487 |
Total Unrealized Losses | (9,595) | (36,789) |
Corporates [Member] | ||
Gain (Loss) on Investments [Line Items] | ||
Less than 12 months, Fair Value | 16,361 | 41,966 |
Less than 12 months, Unrealized Losses | (11) | (90) |
12 months or more, Fair Value | 17,982 | |
12 months or more, Unrealized Losses | (37) | |
Total Fair Value | 16,361 | 59,948 |
Total Unrealized Losses | $ (11) | $ (127) |
Contractual Maturity Informatio
Contractual Maturity Information for Securities Held to Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Investments Debt And Equity Securities [Abstract] | ||
Due in 1 year or less, Amortized Cost | $ 4,674 | $ 6,077 |
Due after 1 year through 5 years, Amortized Cost | 103,885 | 82,650 |
Due after 5 years through 10 years, Amortized Cost | 375,612 | 341,741 |
Due after 10 years, Amortized Cost | 792,081 | 685,464 |
Total state and political subdivisions, Amortized Cost | 1,276,252 | 1,115,932 |
Due in 1 year or less, Gross Unrealized Gains | 3 | 5 |
Due after 1 year through 5 years, Gross Unrealized Gains | 2,756 | 2,376 |
Due after 5 years through 10 years, Gross Unrealized Gains | 5,040 | 8,854 |
Due after 10 years, Gross Unrealized Gains | 5,816 | 15,717 |
Total state and political subdivisions, Gross Unrealized Gains | 13,615 | 26,952 |
Due in 1 year or less, Gross Unrealized Losses | (11) | (947) |
Due after 1 year through 5 years, Gross Unrealized Losses | (2,652) | (1,474) |
Due after 5 years through 10 years, Gross Unrealized Losses | (21,040) | (3,021) |
Due after 10 years, Gross Unrealized Losses | (84,417) | (31,415) |
Total state and political subdivisions, Gross Unrealized Losses | (108,120) | (36,857) |
Due in 1 year or less, Fair Value | 4,666 | 5,135 |
Due after 1 year through 5 years, Fair Value | 103,989 | 83,552 |
Due after 5 years through 10 years, Fair Value | 359,612 | 347,574 |
Due after 10 years, Fair Value | 713,480 | 669,766 |
Total state and political subdivisions, Fair Value | $ 1,181,747 | $ 1,106,027 |
Schedule of Federal Reserve Ban
Schedule of Federal Reserve Bank Stock and Federal Home Loan Bank Stock and Other Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule of Other Securities [Line Items] | ||
Fair Value | $ 63,543 | $ 68,306 |
Federal Reserve Bank Stock and Other Securities [Member] | ||
Schedule of Other Securities [Line Items] | ||
Amortized Cost | 56,593 | 57,538 |
Gross Unrealized Gains | 6,950 | 10,768 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 63,543 | 68,306 |
FRB and FHLB stock [Member] | Federal Reserve Bank Stock and Other Securities [Member] | ||
Schedule of Other Securities [Line Items] | ||
Amortized Cost | 33,262 | 33,262 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 33,262 | 33,262 |
Other securities - marketable [Member] | Federal Reserve Bank Stock and Other Securities [Member] | ||
Schedule of Other Securities [Line Items] | ||
Amortized Cost | 3 | 4 |
Gross Unrealized Gains | 5,167 | 9,948 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 5,170 | 9,952 |
Other securities - non-marketable [Member] | Federal Reserve Bank Stock and Other Securities [Member] | ||
Schedule of Other Securities [Line Items] | ||
Amortized Cost | 23,328 | 24,272 |
Gross Unrealized Gains | 1,783 | 820 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | $ 25,111 | $ 25,092 |
Changes in Carrying Amount of G
Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | $ 180,867 | |
Acquisition of Marquette | $ 50 | |
Discontinued assets | (47,529) | (47,529) |
Ending Balance | 180,867 | 180,867 |
Segment, Continuing and Discontinued Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 228,396 | 228,346 |
Ending Balance | 228,396 | |
Continuing Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 180,867 | |
Ending Balance | 180,867 | 180,867 |
Bank [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Acquisition of Marquette | 50 | |
Bank [Member] | Segment, Continuing and Discontinued Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 161,391 | 161,341 |
Ending Balance | 161,391 | |
Bank [Member] | Continuing Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 161,391 | |
Ending Balance | 161,391 | 161,391 |
Institutional Investment Management [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Discontinued assets | (47,529) | (47,529) |
Institutional Investment Management [Member] | Segment, Continuing and Discontinued Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 47,529 | 47,529 |
Ending Balance | 47,529 | |
Asset Servicing [Member] | Segment, Continuing and Discontinued Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 19,476 | 19,476 |
Ending Balance | 19,476 | |
Asset Servicing [Member] | Continuing Operations [Member] | ||
Goodwill And Other Intangible Assets [Line Items] | ||
Beginning Balance | 19,476 | |
Ending Balance | $ 19,476 | $ 19,476 |
Changes In Intangible Assets (D
Changes In Intangible Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | $ 127,556 | $ 125,024 |
Accumulated amortization | 104,079 | 98,394 |
Net carrying amount | 23,477 | 26,630 |
Core deposit intangible assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 50,059 | 47,527 |
Accumulated amortization | 41,424 | 39,040 |
Net carrying amount | 8,635 | 8,487 |
Customer relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 74,243 | 74,243 |
Accumulated amortization | 59,401 | 56,352 |
Net carrying amount | 14,842 | 17,891 |
Other intangible assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 3,254 | 3,254 |
Accumulated amortization | $ 3,254 | 3,002 |
Net carrying amount | $ 252 |
Aggregate Amortization Expense
Aggregate Amortization Expense Recognized (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ||||
Aggregate amortization expense | $ 1,715 | $ 2,088 | $ 5,685 | $ 6,644 |
Estimated Amortization Expense
Estimated Amortization Expense of Intangible Assets (Detail) $ in Thousands | Sep. 30, 2017USD ($) |
Goodwill And Intangible Assets Disclosure [Abstract] | |
For the three months ending December 31, 2017 | $ 1,679 |
For the year ending December 31, 2018 | 6,126 |
For the year ending December 31, 2019 | 5,063 |
For the year ending December 31, 2020 | 4,044 |
For the year ending December 31, 2021 | 2,975 |
For the year ending December 31, 2022 | $ 1,971 |
Remaining Contractual Maturitie
Remaining Contractual Maturities Of Repurchase Agreements (Detail) $ in Thousands | Sep. 30, 2017USD ($) |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | $ 1,036,029 |
On Demand [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | 2,500 |
2 to 29 days [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | 1,032,729 |
Over 90 Days [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | 800 |
U.S. Treasury [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | 13,376 |
U.S. Treasury [Member] | 2 to 29 days [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | 13,376 |
U.S. Agencies [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | 1,022,653 |
U.S. Agencies [Member] | On Demand [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | 2,500 |
U.S. Agencies [Member] | 2 to 29 days [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | 1,019,353 |
U.S. Agencies [Member] | Over 90 Days [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Total repurchase agreements | $ 800 |
Business Segment Reporting - Ad
Business Segment Reporting - Additional Information (Detail) - Segment | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Segment Reporting [Abstract] | ||
Number of reportable segments | 2 | 3 |
Schedule of Segment Financial R
Schedule of Segment Financial Results (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Segment Reporting Information [Line Items] | ||||
Net interest income | $ 140,858 | $ 124,765 | $ 412,567 | $ 363,867 |
Provision for loan losses | 11,500 | 13,000 | 35,000 | 25,000 |
Noninterest income | 104,306 | 103,542 | 317,529 | 304,281 |
Noninterest expense | 171,821 | 165,211 | 522,570 | 498,898 |
Income before taxes | 61,843 | 50,096 | 172,526 | 144,250 |
Income tax expense | 12,971 | 10,674 | 36,907 | 34,016 |
Income from continuing operations | 48,872 | 39,422 | 135,619 | 110,234 |
Average assets | 20,313,000 | 19,692,000 | 20,288,000 | 19,488,000 |
Bank [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 137,331 | 121,963 | 403,450 | 355,847 |
Provision for loan losses | 11,500 | 13,000 | 35,000 | 25,000 |
Noninterest income | 79,759 | 80,540 | 245,583 | 234,643 |
Noninterest expense | 150,057 | 144,450 | 456,680 | 435,708 |
Income before taxes | 55,533 | 45,053 | 157,353 | 129,782 |
Income tax expense | 11,649 | 9,560 | 33,733 | 30,478 |
Income from continuing operations | 43,884 | 35,493 | 123,620 | 99,304 |
Average assets | 19,542,050 | 18,441,950 | 19,501,000 | 18,205,900 |
Asset Servicing [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 3,527 | 2,802 | 9,117 | 8,020 |
Noninterest income | 24,547 | 23,002 | 71,946 | 69,638 |
Noninterest expense | 21,764 | 20,761 | 65,890 | 63,190 |
Income before taxes | 6,310 | 5,043 | 15,173 | 14,468 |
Income tax expense | 1,322 | 1,114 | 3,174 | 3,538 |
Income from continuing operations | 4,988 | 3,929 | 11,999 | 10,930 |
Average assets | $ 770,950 | $ 1,250,050 | $ 787,000 | $ 1,282,100 |
Notional Amount of Off-Balance
Notional Amount of Off-Balance Sheet Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Commitments to extend credit for loans (excluding credit card loans) [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | $ 6,451,746 | $ 6,471,404 |
Commitments to extend credit under credit card loans [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | 2,952,064 | 2,798,433 |
Commercial letters of credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | 659 | 1,098 |
Standby letters of credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | 305,756 | 376,617 |
Forward foreign exchange contracts [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | 46,793 | 49,352 |
Spot foreign exchange contracts [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Contract or notional amount of off-balance sheet financial instruments | $ 1,185 | $ 3,725 |
Summary of Fair Value of Deriva
Summary of Fair Value of Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets, Fair Value | $ 11,794 | $ 10,873 |
Derivative Liabilities, Fair Value | 8,884 | 11,329 |
Derivatives not Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets, Fair Value | 11,692 | 10,555 |
Derivative Liabilities, Fair Value | 7,276 | 10,581 |
Derivatives Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets, Fair Value | 102 | 318 |
Derivative Liabilities, Fair Value | $ 1,608 | $ 748 |
Derivatives and Hedging Activ57
Derivatives and Hedging Activities - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017USD ($)Derivative | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($)Derivative | Sep. 30, 2016USD ($) | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Termination value of derivatives in net liability position | $ 10,700,000 | $ 10,700,000 | ||
Collateral posted for derivative instruments | 557,000 | 557,000 | ||
Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Effective portion of change in fair value of cash flow hedges | (169,000) | $ (643,000) | $ (1,080,000) | $ (7,677,000) |
Interest rate hedging exposure to variability in future cash flows for forecasted transactions, maximum period | 19 years | |||
Interest Rate Swap [Member] | Derivatives Designated as Hedging Instruments [Member] | Fair Value Hedging [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Notional amount of interest rate swaps | $ 15,600,000 | $ 15,600,000 | ||
Number of interest rate swaps | Derivative | 2 | 2 | ||
Interest Rate Swap [Member] | Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Notional amount of interest rate swaps | $ 51,500,000 | $ 51,500,000 | ||
Number of interest rate swaps | Derivative | 2 | 2 | ||
Interest Rate Swap [Member] | Derivatives not Designated as Hedging Instruments [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Notional amount of interest rate swaps | $ 947,300,000 | $ 947,300,000 | ||
Number of interest rate swaps | Derivative | 76 | 76 | ||
Gain (Loss) related to changes in fair value of swaps | $ 140,000 | 76,000 | $ 656,000 | 868,000 |
Interest Rate Products [Member] | Derivatives Designated as Hedging Instruments [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Gain (Loss) related to changes in fair value of swaps | (1,000) | (1,000) | 1,000 | (3,000) |
Interest Rate Products [Member] | Derivatives Designated as Hedging Instruments [Member] | Fair Value Hedging [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Gain (Loss) related to changes in fair value of swaps | 55,000 | 63,000 | 189,000 | 392,000 |
Interest Rate Products [Member] | Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Effective portion of change in fair value of cash flow hedges | (169,000) | (643,000) | (1,080,000) | (7,677,000) |
Interest Rate Products [Member] | Derivatives not Designated as Hedging Instruments [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Gain (Loss) related to changes in fair value of swaps | $ (140,000) | $ (76,000) | $ (656,000) | $ (868,000) |
Summary of Amount of Gain (Loss
Summary of Amount of Gain (Loss) Recognized in Other Non-Interest Expense in Consolidated Statements of Income Related to Derivative Assets and Liabilities (Detail) - Interest Rate Products [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Derivatives not Designated as Hedging Instruments [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized | $ (140) | $ (76) | $ (656) | $ (868) |
Derivatives Designated as Hedging Instruments [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized | (1) | (1) | 1 | (3) |
Derivatives Designated as Hedging Instruments [Member] | Fair value adjustments on derivatives [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized | (56) | (64) | (188) | (395) |
Derivatives Designated as Hedging Instruments [Member] | Fair Value Hedging [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized | $ 55 | $ 63 | $ 189 | $ 392 |
Summary of Amount of Gain (Lo59
Summary of Amount of Gain (Loss) Recognized in AOCI in Consolidated Statements of Comprehensive Income Related to Company's Derivative Assets and Liabilities (Detail) - Derivatives Designated as Hedging Instruments [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Loss Recognized in Other Comprehensive Income on Derivatives (Effective Portion) | $ (169) | $ (643) | $ (1,080) | $ (7,677) |
Interest Rate Products [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Loss Recognized in Other Comprehensive Income on Derivatives (Effective Portion) | $ (169) | $ (643) | $ (1,080) | $ (7,677) |
Assets and Liabilities Measured
Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | $ 60,660 | $ 39,536 |
Available for sale | 5,848,960 | 6,466,334 |
Derivatives | 11,794 | 10,873 |
Derivatives | 8,884 | 11,329 |
Securities sold not yet purchased | 3,300 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 15,085 | 28,495 |
Available for sale | 57,517 | 160,701 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 45,575 | 11,041 |
Available for sale | 5,791,443 | 6,305,633 |
U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 38,941 | 93,826 |
U.S. Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 14,757 | 198,177 |
Mortgage-backed [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 3,223,422 | 3,711,699 |
State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 2,553,264 | 2,395,757 |
Corporates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 18,576 | 66,875 |
Fair Value Measurement, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 60,660 | 39,536 |
Available for sale | 5,848,960 | 6,466,334 |
Company-owned life insurance | 59,431 | 41,333 |
Bank-owned life insurance | 264,741 | 209,686 |
Derivatives | 11,794 | 10,873 |
Total | 6,245,586 | 6,767,762 |
Deferred compensation | 57,048 | 42,797 |
Derivatives | 8,884 | 11,329 |
Securities sold not yet purchased | 3,266 | |
Total | 69,198 | 54,126 |
Fair Value Measurement, Recurring [Member] | Trading - other [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 12,339 | 28,622 |
Fair Value Measurement, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 15,085 | 28,495 |
Available for sale | 57,517 | 160,701 |
Total | 72,602 | 189,196 |
Deferred compensation | 57,048 | 42,797 |
Total | 57,048 | 42,797 |
Fair Value Measurement, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Trading - other [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 11,766 | 28,495 |
Fair Value Measurement, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 45,575 | 11,041 |
Available for sale | 5,791,443 | 6,305,633 |
Company-owned life insurance | 59,431 | 41,333 |
Bank-owned life insurance | 264,741 | 209,686 |
Derivatives | 11,794 | 10,873 |
Total | 6,172,984 | 6,578,566 |
Derivatives | 8,884 | 11,329 |
Securities sold not yet purchased | 3,266 | |
Total | 12,150 | 11,329 |
Fair Value Measurement, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Trading - other [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 573 | 127 |
Fair Value Measurement, Recurring [Member] | U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 25 | |
Available for sale | 38,941 | 93,826 |
Fair Value Measurement, Recurring [Member] | U.S. Treasury [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 25 | |
Available for sale | 38,941 | 93,826 |
Fair Value Measurement, Recurring [Member] | U.S. Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 6,255 | 1,306 |
Available for sale | 14,757 | 198,177 |
Fair Value Measurement, Recurring [Member] | U.S. Agencies [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 6,255 | 1,306 |
Available for sale | 14,757 | 198,177 |
Fair Value Measurement, Recurring [Member] | Mortgage-backed [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 2,555 | 313 |
Available for sale | 3,223,422 | 3,711,699 |
Fair Value Measurement, Recurring [Member] | Mortgage-backed [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 2,555 | 313 |
Available for sale | 3,223,422 | 3,711,699 |
Fair Value Measurement, Recurring [Member] | State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 36,192 | 9,295 |
Available for sale | 2,553,264 | 2,395,757 |
Fair Value Measurement, Recurring [Member] | State and political subdivisions [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 36,192 | 9,295 |
Available for sale | 2,553,264 | 2,395,757 |
Fair Value Measurement, Recurring [Member] | Corporates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 3,294 | |
Available for sale | 18,576 | 66,875 |
Fair Value Measurement, Recurring [Member] | Corporates [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 3,294 | |
Available for sale | $ 18,576 | $ 66,875 |
Assets Measured at Fair Value o
Assets Measured at Fair Value on Non-Recurring Basis (Detail) - Fair Value, Measurements, Non-Recurring [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | $ 18,683 | $ 23,846 |
Total Gains (Losses) Recognized | 4,749 | (2,070) |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 18,683 | 23,846 |
Impaired loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 17,971 | 23,757 |
Total Gains (Losses) Recognized | 4,749 | (2,070) |
Impaired loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 17,971 | 23,757 |
Other real estate owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 712 | 89 |
Other real estate owned [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | $ 712 | $ 89 |
Estimated Fair Value of Financi
Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and short-term investments | $ 832,461 | $ 1,462,267 |
Securities available for sale | 5,848,960 | 6,466,334 |
Securities held to maturity | 1,276,252 | 1,115,932 |
Trading securities | 60,660 | 39,536 |
Other securities | 63,543 | 68,306 |
Loans (exclusive of allowance for loan loss) | 11,001,553 | 10,545,662 |
Derivatives | 11,794 | 10,873 |
Demand and savings deposits | 14,875,196 | 15,434,893 |
Time deposits | 1,124,408 | 1,135,721 |
Other borrowings | 1,856,837 | 1,856,937 |
Long-term debt | 76,071 | 76,772 |
Derivatives | 8,884 | 11,329 |
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and short-term investments | 832,461 | 1,462,267 |
Securities available for sale | 5,848,960 | 6,466,334 |
Securities held to maturity | 1,181,747 | 1,106,027 |
Trading securities | 60,660 | 39,536 |
Other securities | 63,543 | 68,306 |
Loans (exclusive of allowance for loan loss) | 11,052,253 | 10,572,292 |
Derivatives | 11,794 | 10,873 |
Demand and savings deposits | 14,875,196 | 15,434,893 |
Time deposits | 1,124,408 | 1,135,721 |
Other borrowings | 1,856,837 | 1,856,937 |
Long-term debt | 76,330 | 77,025 |
Derivatives | 8,884 | 11,329 |
Commitments to extend credit for loans | 5,140 | 5,604 |
Commercial letters of credit | 97 | 142 |
Standby letters of credit | 1,887 | 2,527 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and short-term investments | 591,172 | 1,138,850 |
Securities available for sale | 57,517 | 160,701 |
Trading securities | 15,085 | 28,495 |
Demand and savings deposits | 14,875,196 | 15,434,893 |
Other borrowings | 820,808 | 419,843 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and short-term investments | 241,289 | 323,417 |
Securities available for sale | 5,791,443 | 6,305,633 |
Securities held to maturity | 1,181,747 | 1,106,027 |
Trading securities | 45,575 | 11,041 |
Other securities | 63,543 | 68,306 |
Loans (exclusive of allowance for loan loss) | 11,052,253 | 10,572,292 |
Derivatives | 11,794 | 10,873 |
Time deposits | 1,124,408 | 1,135,721 |
Other borrowings | 1,036,029 | 1,437,094 |
Long-term debt | 76,330 | 77,025 |
Derivatives | $ 8,884 | $ 11,329 |
Discontinued Operations - Addit
Discontinued Operations - Additional Information (Detail) $ in Millions | Apr. 20, 2017USD ($) |
Scout Investments Inc [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Consideration received on sale of stock of subsidiaries | $ 172.5 |
Schedule of Components of (Loss
Schedule of Components of (Loss) Income from Discontinued Operations, Net of Taxes (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Discontinued Operations And Disposal Groups [Abstract] | ||||
Total noninterest income | $ 18,193 | $ 18,406 | $ 53,912 | $ 55,464 |
Total noninterest expense | 19,223 | 14,572 | 54,634 | 46,672 |
(Loss) income from discontinued operations | (1,030) | 3,834 | (722) | 8,792 |
Income tax (benefit) expense | (300) | 1,310 | (247) | 3,159 |
(Loss) income from discontinued operations | $ (730) | $ 2,524 | $ (475) | $ 5,633 |
Schedule of Discontinued Operat
Schedule of Discontinued Operations Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Discontinued Operations And Disposal Groups [Abstract] | ||
Goodwill | $ 47,529 | $ 47,529 |
Other intangibles, net | 6,214 | 7,861 |
Discontinued assets – goodwill and other intangibles, net | $ 53,743 | $ 55,390 |
Schedule of Components of Net C
Schedule of Components of Net Cash Provided by Operating Activities of Discontinued Operations Consolidated Statements of Cash Flows (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Discontinued Operations And Disposal Groups [Abstract] | ||||
(Loss) income from discontinued operations | $ (730) | $ 2,524 | $ (475) | $ 5,633 |
Depreciation and amortization | 1,647 | 2,719 | ||
Net cash provided by operating activities of discontinued operations | $ 1,172 | $ 8,352 |