Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Jul. 31, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | SYNOVUS FINANCIAL CORP | |
Entity Central Index Key | 18,349 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 121,501,638 |
Consolidated Balance Sheets (un
Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and cash equivalents | $ 377,213 | $ 395,175 |
Interest bearing funds with Federal Reserve Bank | 468,148 | 527,090 |
Interest earning deposits with banks | 6,012 | 18,720 |
Federal funds sold and securities purchased under resale agreements | 46,847 | 58,060 |
Trading account assets, at fair value | 3,045 | 9,314 |
Mortgage loans held for sale, at fair value | 61,893 | 51,545 |
Investment securities available for sale, at fair value | 3,827,058 | 3,718,195 |
Loans, net of deferred fees and costs | 24,430,512 | 23,856,391 |
Allowance for loan losses | (248,095) | (251,758) |
Loans, net | 24,182,417 | 23,604,633 |
Premises and equipment, net | 416,364 | 417,485 |
Goodwill | 57,092 | 59,678 |
Other intangible assets | 11,843 | 13,223 |
Other real estate | 19,476 | 22,308 |
Deferred tax asset, net | 320,403 | 395,356 |
Other assets | 890,155 | 813,220 |
Total assets | 30,687,966 | 30,104,002 |
Deposits: | ||
Non-interest bearing deposits | 7,363,476 | 7,085,804 |
Interest bearing deposits, excluding brokered deposits | 16,387,032 | 16,183,273 |
Brokered deposits | 1,468,308 | 1,378,983 |
Total deposits | 25,218,816 | 24,648,060 |
Federal funds purchased and securities sold under repurchase agreements | 150,379 | 159,699 |
Long-term debt | 2,107,245 | 2,160,881 |
Other liabilities | 213,579 | 207,438 |
Total liabilities | 27,690,019 | 27,176,078 |
Shareholders' Equity | ||
Series C Preferred Stock – no par value. Authorized 100,000,000 shares; 5,200,000 shares issued and outstanding at June 30, 2017 and December 31, 2016 | 125,980 | 125,980 |
Common stock - $1.00 par value. Authorized 342,857,143 shares; 142,498,906 issued at June 30, 2017 and 142,025,720 issued at December 31, 2016; 121,661,092 outstanding at June 30, 2017 and 122,266,106 outstanding at December 31, 2016 | 142,499 | 142,026 |
Additional paid-in capital | 3,029,754 | 3,028,405 |
Treasury stock, at cost – 20,837,814 shares at June 30, 2017 and 19,759,614 shares at December 31, 2016 | (709,944) | (664,595) |
Accumulated other comprehensive loss | (47,865) | (55,659) |
Retained earnings | 457,523 | 351,767 |
Total shareholders’ equity | 2,997,947 | 2,927,924 |
Total liabilities and shareholders' equity | $ 30,687,966 | $ 30,104,002 |
Consolidated Balance Sheets (u3
Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares | Jun. 30, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, shares authorized | 100,000,000 | 100,000,000 |
Preferred Stock, shares issued | 5,200,000 | 5,200,000 |
Preferred stock, shares outstanding | 5,200,000 | 5,200,000 |
Common stock, par value (per share) | $ 1 | $ 1 |
Common stock, shares authorized | 342,857,143 | 342,857,143 |
Common stock, shares issued | 142,498,906 | 142,025,720 |
Common stock, shares outstanding | 121,661,092 | 122,266,106 |
Treasury stock, shares at cost | 20,837,814 | 19,759,614 |
Consolidated Statements of Inco
Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest income: | ||||
Loans, including fees | $ 261,971 | $ 232,974 | $ 511,319 | $ 462,892 |
Investment securities available for sale | 20,266 | 16,685 | 40,099 | 33,655 |
Trading account assets | 21 | 12 | 49 | 34 |
Mortgage loans held for sale | 505 | 650 | 972 | 1,238 |
Federal Reserve Bank balances | 1,304 | 1,020 | 2,515 | 2,019 |
Other earning assets | 1,443 | 1,052 | 2,957 | 1,878 |
Total interest income | 285,510 | 252,393 | 557,911 | 501,716 |
Interest expense: | ||||
Deposits | 18,118 | 16,200 | 35,075 | 32,214 |
Federal funds purchased and securities sold under repurchase agreements | 45 | 51 | 84 | 96 |
Long-term debt | 16,250 | 14,693 | 31,728 | 29,763 |
Total interest expense | 34,413 | 30,944 | 66,887 | 62,073 |
Net interest income | 251,097 | 221,449 | 491,024 | 439,643 |
Provision for loan losses | 10,260 | 6,693 | 18,934 | 16,070 |
Net interest income after provision for loan losses | 240,837 | 214,756 | 472,090 | 423,573 |
Non-interest income: | ||||
Service charges on deposit accounts | 19,820 | 20,240 | 39,593 | 39,950 |
Fiduciary and asset management fees | 12,524 | 11,580 | 24,676 | 22,854 |
Brokerage revenue | 7,210 | 7,338 | 14,436 | 13,821 |
Mortgage banking income | 5,784 | 5,941 | 11,548 | 11,425 |
Bankcard fees | 8,253 | 8,346 | 16,438 | 16,718 |
Investment securities gains (losses), net | (1) | 0 | 7,667 | 67 |
(Decrease) increase in fair value of private equity investments, net | (1,352) | 113 | (3,166) | (278) |
Other fee income | 6,164 | 5,280 | 11,033 | 10,084 |
Other non-interest income | 10,299 | 9,048 | 18,314 | 16,392 |
Total non-interest income | 68,701 | 67,886 | 140,539 | 131,033 |
Non-interest expense: | ||||
Salaries and other personnel expense | 105,213 | 97,061 | 212,404 | 198,419 |
Net occupancy and equipment expense | 29,933 | 26,783 | 59,264 | 53,360 |
Third-party processing expense | 13,620 | 11,698 | 26,223 | 22,814 |
FDIC insurance and other regulatory fees | 6,875 | 6,625 | 13,645 | 13,344 |
Professional fees | 7,551 | 6,938 | 12,907 | 13,307 |
Advertising expense | 5,346 | 7,351 | 11,258 | 9,761 |
Foreclosed real estate expense, net | 1,448 | 4,588 | 3,582 | 7,272 |
Earnout liability adjustment | 1,707 | 0 | 1,707 | 0 |
Merger-related expense | 0 | 0 | 86 | 0 |
Loss on early extinguishment of debt, net | 0 | 0 | 0 | 4,735 |
Fair value adjustment to Visa derivative | 0 | 360 | 0 | 720 |
Restructuring charges, net | 13 | 5,841 | 6,524 | 6,981 |
Other operating expenses | 20,041 | 21,366 | 41,533 | 46,131 |
Total non-interest expense | 191,747 | 188,611 | 389,133 | 376,844 |
Income before income taxes | 117,791 | 94,031 | 223,496 | 177,762 |
Income tax expense | 41,788 | 33,574 | 75,635 | 64,773 |
Net income | 76,003 | 60,457 | 147,861 | 112,989 |
Dividends on preferred stock | 2,559 | 2,559 | 5,119 | 5,119 |
Net income available to common shareholders | $ 73,444 | $ 57,898 | $ 142,742 | $ 107,870 |
Net income per common share, basic (in dollars per share) | $ 0.60 | $ 0.46 | $ 1.17 | $ 0.85 |
Net income per common share, diluted (in dollars per share) | $ 0.60 | $ 0.46 | $ 1.16 | $ 0.85 |
Weighted average common shares outstanding, basic (in shares) | 122,203 | 125,100 | 122,251 | 126,164 |
Weighted average common shares outstanding, diluted (in shares) | 123,027 | 125,699 | 123,043 | 126,778 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income, Before-tax Amount | $ 117,791 | $ 94,031 | $ 223,496 | $ 177,762 |
Net income, Tax (Expense) Benefit | (41,788) | (33,574) | (75,635) | (64,773) |
Net income | 76,003 | 60,457 | 147,861 | 112,989 |
Reclassification adjustment for losses realized in net income, Before-tax Amount | 65 | 64 | 130 | 337 |
Reclassification adjustment for losses realized in net income, Tax (Expense) Benefit | (25) | (25) | (50) | (130) |
Reclassification adjustment for losses realized in net income, Net of Tax Amount | 40 | 39 | 80 | 207 |
Net unrealized gains on investment securities available for sale: | ||||
Reclassification adjustment for net (gains) losses realized in net income, Before-tax Amount | 1 | 0 | (7,667) | (67) |
Net unrealized gains arising during the period, Before-tax Amount | 11,150 | 19,044 | 20,250 | 66,215 |
Net unrealized gain, Before-tax Amount | 11,151 | 19,044 | 12,583 | 66,148 |
Net unrealized gains on investment securities available for sale: Tax (Expense) Benefit | ||||
Reclassification adjustment for net (gains) losses realized in net income, Tax (Expense) Benefit | 0 | 0 | 2,952 | 26 |
Net unrealized gains arising during the period, Tax (Expense) Benefit | (4,293) | (7,332) | (7,797) | (25,493) |
Net unrealized gains, Tax (Expense) Benefit | (4,293) | (7,332) | (4,845) | (25,467) |
Net unrealized gains on investment securities available for sale: Net of Tax Amount | ||||
Reclassification adjustment for net (gains) losses realized in net income, Net of Tax Amount | 1 | 0 | (4,715) | (41) |
Net unrealized gains arising during the period, Net of Tax Amount | 6,857 | 11,712 | 12,453 | 40,722 |
Net unrealized gains, Net of Tax Amount | 6,858 | 11,712 | 7,738 | 40,681 |
Post-retirement unfunded health benefit: Before-tax Amount | ||||
Reclassification adjustment for gains realized in net income, Before-tax Amount | (20) | (10) | (40) | (104) |
Actuarial gains arising during the period, Before-tax Amount | 0 | 0 | 0 | 0 |
Net unrealized (realized) gains, Before-tax Amount | (20) | (10) | (40) | (104) |
Post-retirement unfunded health benefit: Tax (Expense) Benefit | ||||
Reclassification adjustment for gains realized in net income, Tax (Expense) Benefit | 8 | 4 | 16 | 40 |
Actuarial gains arising during the period, Tax (Expense) Benefit | 0 | 0 | 0 | 0 |
Net unrealized (realized) gains, Tax (Expense) Benefit | 8 | 4 | 16 | 40 |
Post-retirement unfunded health benefit: Net of Tax Amount | ||||
Reclassification adjustment for gains realized in net income, Net of Tax Amount | (12) | (6) | (24) | (64) |
Actuarial gains arising during the period, Net of Tax Amount | 0 | 0 | 0 | 0 |
Net unrealized (realized) gains, Net of Tax Amount | (12) | (6) | (24) | (64) |
Other comprehensive income, Before-tax Amount | 11,196 | 19,098 | 12,673 | 66,381 |
Other comprehensive income, Tax (Expense) Benefit | (4,310) | (7,353) | (4,879) | (25,557) |
Other comprehensive income, Net of Tax Amount | 6,886 | 11,745 | 7,794 | 40,824 |
Comprehensive income, Net of Tax Amount | $ 82,889 | $ 72,202 | $ 155,655 | $ 153,813 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (unaudited) - USD ($) $ in Thousands | Total | Preferred StockSeries C Preferred Stock | Common Stock | Additional Paid-in Capital | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Retained Earnings |
Balance at Dec. 31, 2015 | $ 3,000,196 | $ 125,980 | $ 140,592 | $ 2,989,981 | $ (401,511) | $ (29,819) | $ 174,973 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 112,989 | 112,989 | |||||
Other comprehensive income, net of income taxes | 40,824 | 40,824 | |||||
Cash dividends declared on common stock | (30,015) | (30,015) | |||||
Cash dividends paid on Series C Preferred Stock | (5,119) | (5,119) | |||||
Repurchases of common stock | (171,547) | (171,547) | |||||
Restricted share unit activity | (4,605) | 298 | (4,814) | (89) | |||
Stock options exercised | 2,035 | 118 | 1,917 | ||||
Share-based compensation net tax benefit | 52 | 52 | |||||
Share-based compensation expense | 6,849 | 6,849 | |||||
Balance at Jun. 30, 2016 | 2,951,659 | 125,980 | 141,008 | 2,993,985 | (573,058) | 11,005 | 252,739 |
Balance at Dec. 31, 2016 | 2,927,924 | 125,980 | 142,026 | 3,028,405 | (664,595) | (55,659) | 351,767 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 147,861 | 147,861 | |||||
Other comprehensive income, net of income taxes | 7,794 | 7,794 | |||||
Cash dividends declared on common stock | (36,696) | (36,696) | |||||
Cash dividends paid on Series C Preferred Stock | (5,119) | (5,119) | |||||
Repurchases of common stock | (45,349) | (45,349) | |||||
Restricted share unit activity | (7,810) | 330 | (7,850) | (290) | |||
Stock options exercised | 2,504 | 143 | 2,361 | ||||
Share-based compensation expense | 6,838 | 6,838 | |||||
Balance at Jun. 30, 2017 | $ 2,997,947 | $ 125,980 | $ 142,499 | $ 3,029,754 | $ (709,944) | $ (47,865) | $ 457,523 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (unaudited) (Parenthetical) - $ / shares | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Stockholders' Equity [Abstract] | ||
Cash dividends declared on common stock, per share | $ 0.30 | $ 0.24 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Operating Activities | ||
Net income | $ 147,861 | $ 112,989 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 18,934 | 16,070 |
Depreciation, amortization, and accretion, net | 29,334 | 28,506 |
Deferred income tax expense | 70,484 | 61,283 |
Decrease in trading account assets | 6,269 | 4,096 |
Originations of mortgage loans held for sale | (325,094) | (320,304) |
Proceeds from sales of mortgage loans held for sale | 323,861 | 299,186 |
Gain on sales of mortgage loans held for sale, net | (7,049) | (6,946) |
Increase in other assets | (14,525) | (33,152) |
(Decrease) increase in other liabilities | (9,667) | 13,162 |
Investment securities gains, net | (7,667) | (67) |
Losses and write-downs on other real estate, net | 2,856 | 6,089 |
Decrease in fair value of private equity investments, net | 3,166 | 278 |
Losses and write-downs on other assets held for sale, net | 0 | 7,902 |
Loss on early extinguishment of debt, net | 0 | 4,735 |
Share-based compensation expense | 6,838 | 6,849 |
Net cash provided by operating activities | 245,601 | 200,676 |
Investing Activities | ||
Net decrease (increase) in interest earning deposits with banks | 12,708 | (7,154) |
Net decrease (increase) in federal funds sold and securities purchased under resale agreements | 11,213 | (7,866) |
Net decrease (increase) in interest bearing funds with Federal Reserve Bank | 58,942 | (74,519) |
Proceeds from maturities and principal collections of investment securities available for sale | 313,902 | 443,128 |
Proceeds from sales of investment securities available for sale | 338,381 | 243,609 |
Purchases of investment securities available for sale | (748,754) | (623,046) |
Proceeds from sales of loans | 10,747 | 7,739 |
Proceeds from sales of other real estate | 5,492 | 16,282 |
Net increase in loans | (612,309) | (660,778) |
Purchases of bank-owned life insurance policies | (75,000) | 0 |
Net increase in premises and equipment | (15,386) | (16,769) |
Proceeds from sales of other assets held for sale | 3,158 | 296 |
Net cash used in investing activities | (696,906) | (679,078) |
Financing Activities | ||
Net increase in demand and savings deposits | 367,450 | 595,342 |
Net increase in certificates of deposit | 202,927 | 87,466 |
Net (decrease) increase in federal funds purchased and securities sold under repurchase agreements | (9,320) | 70,154 |
Repayments on long-term debt | (1,128,591) | (1,455,067) |
Proceeds from issuance of long-term debt | 1,075,000 | 1,400,000 |
Dividends paid to common shareholders | (18,349) | (30,015) |
Dividends paid to preferred shareholders | (5,119) | (5,119) |
Stock options exercised | 2,504 | 2,035 |
Repurchases of common stock | (45,349) | (171,547) |
Restricted stock activity | (7,810) | (4,605) |
Net cash provided by financing activities | 433,343 | 488,644 |
(Decrease) increase in cash and cash equivalents | (17,962) | 10,242 |
Cash and cash equivalents at beginning of period | 395,175 | 367,092 |
Cash and cash equivalents at end of period | 377,213 | 377,334 |
Supplemental Cash Flow Information | ||
Income tax payments, net | 8,768 | 5,849 |
Interest paid | 67,007 | 64,424 |
Non-cash Activities | ||
Premises and equipment transferred to other assets held for sale | 0 | 18,677 |
Other assets held for sale transferred to premises and equipment | 4,450 | 0 |
Loans foreclosed and transferred to other real estate | 5,516 | 8,631 |
Loans transferred to other loans held for sale at fair value | 10,584 | 7,314 |
Dividends declared on common stock during the period but paid after period-end | $ 18,349 | $ 0 |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Note 1 - Significant Accounting Policies Business Operations The accompanying unaudited interim consolidated financial statements of Synovus Financial Corp. include the accounts of the Parent Company and its consolidated subsidiaries. Synovus Financial Corp. is a financial services company based in Columbus, Georgia. Through its wholly-owned subsidiary, Synovus Bank, a Georgia state-chartered bank that is a member of the Federal Reserve System, the company provides commercial and retail banking in addition to a full suite of specialized products and services including private banking, treasury management, wealth management, premium finance and international banking. Synovus Bank is positioned in some of the highest growth markets in the Southeast, with 248 branches and 327 ATMs in Georgia, Alabama, South Carolina, Florida, and Tennessee. Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the instructions to the SEC Form 10-Q and Article 10 of Regulation S-X; therefore, they do not include all information and footnotes necessary for a fair presentation of financial position, results of operations, comprehensive income, and cash flows in conformity with GAAP. All adjustments consisting of normally recurring accruals that, in the opinion of management, are necessary for a fair presentation of the consolidated financial position and results of operations for the periods covered by this Report have been included. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes appearing in Synovus' 2016 Form 10-K. There have been no significant changes to the accounting policies as disclosed in Synovus' 2016 Form 10-K. In preparing the unaudited interim consolidated financial statements in accordance with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the respective consolidated balance sheets and the reported amounts of revenues and expenses for the periods presented. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, the fair value of investment securities, the fair value of private equity investments, and contingent liabilities related to legal matters. Cash and Cash Equivalents Cash and cash equivalents consist of cash and due from banks. At December 31, 2016 , $ 533 thousand of the due from banks balance was restricted as to withdrawal. There were no cash and cash equivalents restricted as to withdrawal at June 30, 2017. Short-term Investments Short-term investments consist of interest bearing funds with the Federal Reserve Bank, interest earning deposits with banks, and federal funds sold and securities purchased under resale agreements. At June 30, 2017 and December 31, 2016 , interest bearing funds with the Federal Reserve Bank included $120.5 million and $130.0 million , respectively, on deposit to meet Federal Reserve Bank requirements. Interest earning deposits with banks include $5.9 million and $5.6 million at June 30, 2017 and December 31, 2016 , respectively, which are pledged as collateral in connection with certain letters of credit. Federal funds sold include $43.3 million and $56.1 million at June 30, 2017 and December 31, 2016 , respectively, which are pledged to collateralize certain derivative financial instruments. Federal funds sold and securities purchased under resale agreements, and federal funds purchased and securities sold under repurchase agreements, generally mature in one day. Recently Adopted Accounting Standards Updates During 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 simplifies various aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. This accounting standard update includes a requirement to record all tax effects associated with share-based compensation through the income statement. Prior to 2017, tax benefits in excess of compensation cost (“windfalls”) and tax deficiencies (“shortfalls”) were recorded in equity. During the six and three months ended June 30, 2017 , Synovus recognized $4.5 million and $378 thousand , respectively, of income tax benefits from excess tax benefits that occurred during the six months ended June 30, 2017 from the vesting of restricted share units and exercise of stock options. As of January 1, 2017, Synovus had no previously unrecognized excess tax benefits. Additionally, beginning January 1, 2017, Synovus modified the denominator in the diluted earnings per common share calculation under the treasury stock method to exclude future excess tax benefits as part of the assumed proceeds. Synovus elected to retain its existing accounting policy election to estimate award forfeitures. During 2015, the FASB issued ASU 2015-17, Income Taxes: Balance Sheet Classification of Deferred Taxes , which became effective January 1, 2017. ASU 2015-17 requires that deferred income tax liabilities and assets be classified as noncurrent in the statement of financial position instead of separating deferred taxes into current and noncurrent amounts. Also, valuation allowances will no longer be classified between current and noncurrent because these allowances will be required to be classified as noncurrent under the new standard. This ASU only impacts classification in the balance sheet, and has no impact on required deferred tax footnote disclosures (i.e., required presentation of “gross” deferred tax assets and “gross” deferred tax liabilities). The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not affected by this ASU. There is no impact to our balance sheet as a result of this standard because Synovus has not historically distinguished deferred taxes on the balance sheet as current vs. non-current. Reclassifications Prior periods' consolidated financial statements are reclassified whenever necessary to conform to the current periods' presentation. |
Acquisition
Acquisition | 6 Months Ended |
Jun. 30, 2017 | |
Business Combinations [Abstract] | |
Acquisition | Note 2 - Acquisition On October 1, 2016, Synovus completed its acquisition of all of the outstanding stock of Global One. Prior to its acquisition, Global One was an Atlanta-based private specialty financial services company that lended primarily to commercial entities, with all loans fully collateralized by cash value life insurance policies and/or annuities issued by investment grade life insurance companies. Under the terms of the merger agreement, Synovus acquired Global One for an up-front payment of $30 million , consisting of the issuance of 821 thousand shares of Synovus common stock valued at $26.6 million and $3.4 million in cash, with additional payments to Global One's former shareholders over the next three to five years based on earnings from the Global One business as further discussed below. The acquisition of Global One constituted a business combination. Accordingly, the assets acquired and liabilities assumed were recorded at their estimated fair values as shown in the following table. The determination of fair value required management to make estimates about discount rates, future expected earnings and cash flows, market conditions, future loan growth, and other future events that are highly subjective in nature and subject to change. These fair value estimates reflect measurement period adjustments to the amounts reported as of December 31, 2016, the most significant of which consist of a reduction in goodwill of $2.6 million and a decrease in the estimated fair value of contingent consideration of $1.8 million (the income statement impact of such adjustments was insignificant). These fair value estimates are considered preliminary and are subject to change for up to one year after the closing date of the acquisition as additional information becomes available. Global One October 1, 2016 (in thousands) Fair Value Assets acquired: Cash and due from banks $ 9,554 Commercial and industrial loans (1) 357,307 Goodwill (2) 32,661 Other intangible assets 12,500 Other assets 3,904 Total assets acquired $ 415,926 Liabilities assumed: Notes payable (3) $ 358,560 Contingent consideration 12,234 Deferred tax liability, net 3,229 Other liabilities 11,903 Total liabilities assumed $ 385,926 Consideration paid $ 30,000 Cash paid $ 3,408 Fair value of common stock issued 26,592 (1) The unpaid principal balance of the loans was $356.7 million . (2) The goodwill is not expected to be deductible for tax purposes. (3) The unpaid principal balance of the notes payable was $357.0 million . Under the terms of the merger agreement, the purchase price includes additional annual payments ("Earnout Payments") to Global One's former shareholders over the next three to five years, with amounts based on a percentage of "Global One Earnings," as defined in the merger agreement. The Earnout Payments will consist of shares of Synovus common stock as well as a smaller cash consideration component. Other intangible assets consist of existing borrower relationships ( 11 years useful life), trade name ( 10 years useful life), and distribution network ( 8 years useful life) with June 30, 2017 net carrying values of $10.1 million , $1.0 million , and $544 thousand , respectively. The following is a description of the methods used to determine the fair values of significant assets and liabilities: Commercial and industrial loans : The fair value of loans was determined based on a discounted cash flow approach. The most significant assumptions used in the valuation of the loan portfolio consisted of the prepayment rate, the probability of extension at maturity, the interest rates on extended loans, and the discount rates. All loans are fully collateralized by cash value life insurance policies and/or annuities issued by investment grade insurance companies. Based on a history of no principal losses on the loan portfolio since inception as well as the collateral position, no losses were estimated in the event of default. Notes payable : The notes payable were extinguished immediately after the closing of the acquisition. Accordingly, the fair value of notes payable was determined based on the amounts paid to extinguish such notes, inclusive of applicable prepayment penalties, which is consistent with the perspective of a market participant. Contingent consideration : The fair value of the contingent consideration, which represents the fair value of the above referenced Earnout Payments, was determined based on option pricing methods and a Monte Carlo simulation. The most significant assumptions used in the valuation of the contingent consideration were the expected cash flows, volatility, and discount rates. Future changes in the fair value of the contingent consideration will be recognized in earnings until the contingent consideration arrangement is settled. |
Share Repurchase Program
Share Repurchase Program | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Share Repurchase Program | Note 3 - Share Repurchase Program Synovus' Board of Directors authorized an up to $200 million share repurchase program that will expire at the end of 2017. This program was announced on January 17, 2017. As of June 30, 2017 , Synovus had repurchased under this program a total of $45.3 million , or 1.1 million shares, at an average price of $42.04 per share. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2017 | |
Investments [Abstract] | |
Investment Securities | Note 4 - Investment Securities The amortized cost, gross unrealized gains and losses, and estimated fair values of investment securities available for sale at June 30, 2017 and December 31, 2016 are summarized below. June 30, 2017 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 83,493 — (360 ) 83,133 U.S. Government agency securities 12,088 223 — 12,311 Mortgage-backed securities issued by U.S. Government agencies 132,710 640 (1,125 ) 132,225 Mortgage-backed securities issued by U.S. Government sponsored enterprises 2,881,234 6,169 (30,998 ) 2,856,405 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 734,804 84 (12,468 ) 722,420 State and municipal securities 290 — — 290 Corporate debt and other securities 20,279 205 (210 ) 20,274 Total investment securities available for sale $ 3,864,898 7,321 (45,161 ) 3,827,058 December 31, 2016 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 108,221 225 (644 ) 107,802 U.S. Government agency securities 12,727 266 — 12,993 Mortgage-backed securities issued by U.S. Government agencies 174,440 1,116 (1,354 ) 174,202 Mortgage-backed securities issued by U.S. Government sponsored enterprises 2,543,495 5,416 (42,571 ) 2,506,340 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 905,789 1,214 (16,561 ) 890,442 State and municipal securities 2,780 14 — 2,794 Equity securities 919 2,863 — 3,782 Corporate debt and other securities 20,247 — (407 ) 19,840 Total investment securities available for sale $ 3,768,618 11,114 (61,537 ) 3,718,195 At June 30, 2017 and December 31, 2016 , investment securities with a carrying value of $1.73 billion and $2.04 billion , respectively, were pledged to secure certain deposits and securities sold under repurchase agreements as required by law and contractual agreements. Synovus has reviewed investment securities that are in an unrealized loss position as of June 30, 2017 and December 31, 2016 for OTTI and does not consider any securities in an unrealized loss position to be other-than-temporarily impaired. If Synovus intended to sell a security in an unrealized loss position, the entire unrealized loss would be reflected in earnings. Synovus does not intend to sell investment securities in an unrealized loss position prior to the recovery of the unrealized loss, which may be until maturity, and has the ability and intent to hold those securities for that period of time. Additionally, Synovus is not currently aware of any circumstances which will require it to sell any of the securities that are in an unrealized loss position prior to the respective securities' recovery of all such unrealized losses. Declines in the fair value of available for sale securities below their cost that are deemed to have OTTI are reflected in earnings as realized losses to the extent the impairment is related to credit losses. The amount of the impairment related to other factors is recognized in other comprehensive income. Currently, unrealized losses on debt securities are attributable to increases in interest rates on comparable securities from the date of purchase. Synovus regularly evaluates its investment securities portfolio to ensure that there are no conditions that would indicate that unrealized losses represent OTTI. These factors include the length of time the security has been in a loss position, the extent that the fair value is below amortized cost, and the credit standing of the issuer. As of June 30, 2017 , Synovus had 92 investment securities in a loss position for less than twelve months and 3 investment securities in a loss position for twelve months or longer. Gross unrealized losses on investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2017 and December 31, 2016 are presented below. June 30, 2017 Less than 12 Months 12 Months or Longer Total (in thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. Treasury securities $ 64,342 360 — — 64,342 360 Mortgage-backed securities issued by U.S. Government agencies 95,492 1,125 — — 95,492 1,125 Mortgage-backed securities issued by U.S. Government sponsored enterprises 2,161,449 30,998 — — 2,161,449 30,998 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 668,342 11,678 23,212 790 691,554 12,468 Corporate debt and other securities — — 5,069 210 5,069 210 Total $ 2,989,625 44,161 28,281 1,000 3,017,906 45,161 December 31, 2016 Less than 12 Months 12 Months or Longer Total (in thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. Treasury securities $ 64,023 644 — — 64,023 644 Mortgage-backed securities issued by U.S. Government agencies 128,121 1,240 3,626 114 131,747 1,354 Mortgage-backed securities issued by U.S. Government sponsored enterprises 2,123,181 42,571 — — 2,123,181 42,571 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 682,492 15,653 24,801 908 707,293 16,561 Corporate debt and other securities 14,952 48 4,888 359 19,840 407 Total $ 3,012,769 60,156 33,315 1,381 3,046,084 61,537 The amortized cost and fair value by contractual maturity of investment securities available for sale at June 30, 2017 are shown below. The expected life of mortgage-backed securities or CMOs may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. For purposes of the maturity table, mortgage-backed securities and CMOs, which are not due at a single maturity date, have been classified based on the final contractual maturity date. Distribution of Maturities at June 30, 2017 (in thousands) Within One Year 1 to 5 Years 5 to 10 Years More Than 10 Years No Stated Maturity Total Amortized Cost U.S. Treasury securities $ 18,791 64,702 — — — 83,493 U.S. Government agency securities 1,000 5,612 5,476 — — 12,088 Mortgage-backed securities issued by U.S. Government agencies — — 34,868 97,842 — 132,710 Mortgage-backed securities issued by U.S. Government sponsored enterprises 47 2,262 535,035 2,343,890 — 2,881,234 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — 22,173 712,631 — 734,804 State and municipal securities 110 180 — — — 290 Corporate debt and other securities — — 15,000 2,000 3,279 20,279 Total amortized cost $ 19,948 72,756 612,552 3,156,363 3,279 3,864,898 Fair Value U.S. Treasury securities $ 18,791 64,342 — — — 83,133 U.S. Government agency securities 1,004 5,682 5,625 — — 12,311 Mortgage-backed securities issued by U.S. Government agencies — — 35,007 97,218 — 132,225 Mortgage-backed securities issued by U.S. Government sponsored enterprises 48 2,390 529,968 2,323,999 — 2,856,405 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — 21,950 700,470 — 722,420 State and municipal securities 110 180 — — — 290 Corporate debt and other securities — — 15,205 1,927 3,142 20,274 Total fair value $ 19,953 72,594 607,755 3,123,614 3,142 3,827,058 Proceeds from sales, gross gains, and gross losses on sales of securities available for sale for the three months ended June 30, 2017 and 2016 are presented below. The specific identification method is used to reclassify gains and losses out of other comprehensive income at the time of sale. Six Months Ended June 30, Three Months Ended June 30, (in thousands) 2017 2016 2017 2016 Proceeds from sales of investment securities available for sale $ 338,381 243,609 $ 55,752 — Gross realized gains on sales 7,942 954 239 — Gross realized losses on sales (275 ) (887 ) (240 ) — Investment securities gains, net $ 7,667 67 $ (1 ) — |
Restructuring Charges
Restructuring Charges | 6 Months Ended |
Jun. 30, 2017 | |
Restructuring Charges [Abstract] | |
Restructuring Charges | Note 5 - Restructuring Charges For the six and three months ended June 30, 2017 and 2016 , total restructuring charges consist of the following components: Six Months Ended June 30, Three Months Ended June 30, (in thousands) 2017 2016 2017 2016 Severance charges $ 6,453 — $ — — Lease termination charges — 31 — (13 ) Asset impairment charges — 6,866 — 5,821 Loss (gain) on sale of assets held for sale, net (4 ) 13 (4 ) 13 Other charges 75 71 17 20 Total restructuring charges, net $ 6,524 6,981 $ 13 5,841 During the first quarter of 2017, Synovus recorded severance charges of $6.5 million including $6.2 million for termination benefits incurred in conjunction with a voluntary early retirement program offered during the first quarter of 2017. This program was part of Synovus' ongoing efficiency initiatives. The $6.2 million accrual was based on the benefits to be paid to employees who accepted the early retirement offer on or prior to the expiration of the program on March 30, 2017. For the three months ended June 30, 2016, Synovus recorded restructuring charges of $5.8 million with $4.8 million of those charges related to Synovus' corporate real estate optimization activities and $1.0 million associated with branch closures. Restructuring charges associated with branch closures during the first quarter of 2016 totaled $1.1 million . The following tables present aggregate activity within the accrual for restructuring charges for the six and three months ended June 30, 2017 and 2016 : (in thousands) Severance Charges Lease Termination Charges Total Balance at December 31, 2016 $ 81 3,968 4,049 Accruals for voluntary and involuntary termination benefits 6,453 — 6,453 Payments (2,803 ) (438 ) (3,241 ) Balance at June 30, 2017 $ 3,731 3,530 7,261 Balance at April 1, 2017 6,315 3,689 10,004 Payments (2,584 ) (159 ) (2,743 ) Balance at June 30, 2017 $ 3,731 3,530 7,261 (in thousands) Severance Charges Lease Termination Charges Total Balance at December 31, 2015 $ 1,930 4,687 6,617 Accruals for lease terminations — 31 31 Payments (1,337 ) (343 ) (1,680 ) Balance at June 30, 2016 $ 593 4,375 4,968 Balance at April 1, 2016 1,533 4,545 6,078 Accruals for lease terminations — (13 ) (13 ) Payments (940 ) (157 ) (1,097 ) Balance at June 30, 2016 $ 593 4,375 4,968 All other charges were paid in the quarters that they were incurred. No other restructuring charges resulted in payment accruals. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2017 | |
Loans and Allowance for Loan Losses [Abstract] | |
Loans and Allowance for Loan Losses | Note 6 - Loans and Allowance for Loan Losses The following is a summary of current, accruing past due, and non-accrual loans by portfolio class as of June 30, 2017 and December 31, 2016 . Current, Accruing Past Due, and Non-accrual Loans June 30, 2017 (in thousands) Current Accruing 30-89 Days Past Due Accruing 90 Days or Greater Past Due Total Accruing Past Due Non-accrual Total Investment properties $ 6,028,397 3,482 72 3,554 3,712 6,035,663 1-4 family properties 818,327 8,657 101 8,758 8,535 835,620 Land and development 529,967 1,964 126 2,090 10,931 542,988 Total commercial real estate 7,376,691 14,103 299 14,402 23,178 7,414,271 Commercial, financial and agricultural 6,915,588 14,670 765 15,435 69,550 7,000,573 Owner-occupied 4,715,325 9,291 801 10,092 24,918 4,750,335 Total commercial and industrial 11,630,913 23,961 1,566 25,527 94,468 11,750,908 Home equity lines 1,533,528 8,286 705 8,991 20,648 1,563,167 Consumer mortgages 2,444,866 7,141 623 7,764 18,035 2,470,665 Credit cards 223,092 1,550 1,258 2,808 — 225,900 Other consumer loans 1,021,355 7,197 99 7,296 2,988 1,031,639 Total consumer 5,222,841 24,174 2,685 26,859 41,671 5,291,371 Total loans $ 24,230,445 62,238 4,550 66,788 159,317 24,456,550 (1 ) December 31, 2016 (in thousands) Current Accruing 30-89 Days Past Due Accruing 90 Days or Greater Past Due Total Accruing Past Due Non-accrual Total Investment properties $ 5,861,198 2,795 — 2,795 5,268 5,869,261 1-4 family properties 873,231 4,801 161 4,962 9,114 887,307 Land and development 591,732 1,441 — 1,441 16,233 609,406 Total commercial real estate 7,326,161 9,037 161 9,198 30,615 7,365,974 Commercial, financial and agricultural 6,846,591 9,542 720 10,262 59,074 6,915,927 Owner-occupied 4,601,356 17,913 244 18,157 16,503 4,636,016 Total commercial and industrial 11,447,947 27,455 964 28,419 75,577 11,551,943 Home equity lines 1,585,228 10,013 473 10,486 21,551 1,617,265 Consumer mortgages 2,265,966 7,876 81 7,957 22,681 2,296,604 Credit cards 229,177 1,819 1,417 3,236 — 232,413 Other consumer loans 809,419 5,771 39 5,810 2,954 818,183 Total consumer 4,889,790 25,479 2,010 27,489 47,186 4,964,465 Total loans $ 23,663,898 61,971 3,135 65,106 153,378 23,882,382 (2 ) (1) Total before net deferred fees and costs of $26.0 million . (2) Total before net deferred fees and costs of $26.0 million . The credit quality of the loan portfolio is reviewed and updated no less frequently than quarterly using the standard asset classification system utilized by the federal banking agencies. These classifications are divided into three groups – Not Criticized (Pass), Special Mention, and Classified or Adverse rating (Substandard, Doubtful, and Loss) and are defined as follows: Pass - loans which are well protected by the current net worth and paying capacity of the obligor (or guarantors, if any) or by the fair value, less cost to acquire and sell in a timely manner, of any underlying collateral. Special Mention - loans which have potential weaknesses that deserve management's close attention. These loans are not adversely classified and do not expose an institution to sufficient risk to warrant an adverse classification. Substandard - loans which are inadequately protected by the current net worth and paying capacity of the obligor or by the collateral pledged, if any. Loans with this classification are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful - loans which have all the weaknesses inherent in loans classified as Substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable on the basis of currently known facts, conditions, and values. Loss - loans which are considered by management to be uncollectible and of such little value that their continuance on the institution's books as an asset, without establishment of a specific valuation allowance or charge-off, is not warranted. In the following tables, consumer loans are generally assigned a risk grade similar to the classifications described above; however, upon reaching 90 days and 120 days past due, they are generally downgraded to Substandard and Loss, respectively, in accordance with the FFIEC Uniform Retail Credit Classification and Account Management Policy. Additionally, in accordance with the Interagency Supervisory Guidance on Allowance for Loan and Lease Losses Estimation Practices for Loans and Lines of Credit Secured by Junior Liens on 1-4 Family Residential Properties, the risk grade classifications of consumer loans (home equity lines and consumer mortgages) secured by junior liens on 1-4 family residential properties also consider available information on the payment status of any associated senior liens with other financial institutions. Loan Portfolio Credit Exposure by Risk Grade June 30, 2017 (in thousands) Pass Special Mention Substandard (1) Doubtful (2) Loss Total Investment properties $ 5,952,286 61,451 21,926 — — 6,035,663 1-4 family properties 788,665 24,169 22,559 227 — 835,620 Land and development 477,974 40,576 21,227 3,211 — 542,988 Total commercial real estate 7,218,925 126,196 65,712 3,438 — 7,414,271 Commercial, financial and agricultural 6,710,038 124,412 160,354 5,629 140 (3) 7,000,573 Owner-occupied 4,590,414 52,101 106,410 1,410 — 4,750,335 Total commercial and industrial 11,300,452 176,513 266,764 7,039 140 11,750,908 Home equity lines 1,535,583 — 24,812 373 2,399 (3) 1,563,167 Consumer mortgages 2,450,658 — 19,528 313 166 (3) 2,470,665 Credit cards 224,643 — 445 — 812 (4) 225,900 Other consumer loans 1,028,493 — 2,808 299 39 (3) 1,031,639 Total consumer 5,239,377 — 47,593 985 3,416 5,291,371 Total loans $ 23,758,754 302,709 380,069 11,462 3,556 24,456,550 (5 ) December 31, 2016 (in thousands) Pass Special Mention Substandard (1) Doubtful (2) Loss Total Investment properties $ 5,794,626 43,336 31,299 — — 5,869,261 1-4 family properties 826,311 33,928 26,790 278 — 887,307 Land and development 514,853 60,205 27,361 6,987 — 609,406 Total commercial real estate 7,135,790 137,469 85,450 7,265 — 7,365,974 Commercial, financial and agricultural 6,642,648 126,268 140,425 6,445 141 (3) 6,915,927 Owner-occupied 4,462,420 60,856 111,330 1,410 — 4,636,016 Total commercial and industrial 11,105,068 187,124 251,755 7,855 141 11,551,943 Home equity lines 1,589,199 — 22,774 2,892 2,400 (3) 1,617,265 Consumer mortgages 2,271,916 — 23,268 1,283 137 (3) 2,296,604 Credit cards 230,997 — 637 — 779 (4) 232,413 Other consumer loans 814,844 — 3,233 42 64 (3) 818,183 Total consumer 4,906,956 — 49,912 4,217 3,380 4,964,465 Total loans $ 23,147,814 324,593 387,117 19,337 3,521 23,882,382 (6 ) (1) Includes $235.8 million and $256.6 million of Substandard accruing loans at June 30, 2017 and December 31, 2016 , respectively. (2) The loans within this risk grade are on non-accrual status. Commercial loans generally have an allowance for loan losses in accordance with ASC 310, and retail loans generally have an allowance for loan losses equal to 50% of the loan amount. (3) The loans within this risk grade are on non-accrual status and have an allowance for loan losses equal to the full loan amount. (4) Represent amounts that were 120 days past due. These credits are downgraded to the Loss category with an allowance for loan losses equal to the full loan amount and are generally charged off upon reaching 181 days past due in accordance with the FFIEC Uniform Retail Credit Classification and Account Management Policy. (5) Total before net deferred fees and costs of $26.0 million . (6) Total before net deferred fees and costs of $26.0 million . The following table details the changes in the allowance for loan losses by loan segment for the six and three months ended June 30, 2017 . Allowance for Loan Losses and Recorded Investment in Loans As of and For The Six Months Ended June 30, 2017 (in thousands) Commercial Real Estate Commercial & Industrial Retail Total Allowance for loan losses: Beginning balance $ 81,816 125,778 44,164 251,758 Charge-offs (3,207 ) (19,535 ) (9,656 ) (32,398 ) Recoveries 3,648 3,282 2,871 9,801 Provision for loan losses (4,730 ) 13,912 9,752 18,934 Ending balance (1) $ 77,527 123,437 47,131 248,095 Ending balance: individually evaluated for impairment 4,386 7,226 1,038 12,650 Ending balance: collectively evaluated for impairment $ 73,141 116,211 46,093 235,445 Loans: Ending balance: total loans (1)(2) $ 7,414,271 11,750,908 5,291,371 24,456,550 Ending balance: individually evaluated for impairment 73,638 122,889 31,688 228,215 Ending balance: collectively evaluated for impairment $ 7,340,633 11,628,019 5,259,683 24,228,335 As of and For The Six Months Ended June 30, 2016 (in thousands) Commercial Real Estate Commercial & Industrial Retail Total Allowance for loan losses: Beginning balance $ 87,133 122,989 42,374 252,496 Charge-offs (9,277 ) (10,661 ) (7,148 ) (27,086 ) Recoveries 6,690 4,342 2,564 13,596 Provision for loan losses (5,187 ) 12,963 8,294 16,070 Ending balance (1) $ 79,359 129,633 46,084 255,076 Ending balance: individually evaluated for impairment 12,515 14,221 1,691 28,427 Ending balance: collectively evaluated for impairment $ 66,844 115,412 44,393 226,649 Loans: Ending balance: total loans (1)(3) $ 7,507,695 10,955,430 4,625,410 23,088,535 Ending balance: individually evaluated for impairment 112,954 119,805 37,788 270,547 Ending balance: collectively evaluated for impairment $ 7,394,741 10,835,625 4,587,622 22,817,988 (1) As of and for the six months ended June 30, 2017 and 2016, there were no purchased credit-impaired loans and no allowance for loan losses for purchased credit-impaired loans. (2) Total before net deferred fees and costs of $26.0 million . (3) Total before net deferred fees and costs of $27.6 million . Allowance for Loan Losses and Recorded Investment in Loans As Of and For The Three Months Ended June 30, 2017 (in thousands) Commercial Real Estate Commercial & Industrial Consumer Total Allowance for loan losses: Beginning balance $ 78,314 127,096 48,104 253,514 Charge-offs (1,299 ) (12,642 ) (5,722 ) (19,663 ) Recoveries 759 1,458 1,767 3,984 Provision for loan losses (247 ) 7,525 2,982 10,260 Ending balance (1) $ 77,527 123,437 47,131 248,095 Ending balance: individually evaluated for impairment 4,386 7,226 1,038 12,650 Ending balance: collectively evaluated for impairment $ 73,141 116,211 46,093 235,445 Loans: Ending balance: total loans (1)(2) $ 7,414,271 11,750,908 5,291,371 24,456,550 Ending balance: individually evaluated for impairment 73,638 122,889 31,688 228,215 Ending balance: collectively evaluated for impairment $ 7,340,633 11,628,019 5,259,683 24,228,335 As Of and For The Three Months Ended June 30, 2016 (in thousands) Commercial Real Estate Commercial & Industrial Consumer Total Allowance for loan losses: Beginning balance $ 84,557 124,878 45,081 254,516 Charge-offs (7,455 ) (5,136 ) (3,180 ) (15,771 ) Recoveries 5,397 3,078 1,163 9,638 Provision for loan losses (3,140 ) 6,813 3,020 6,693 Ending balance (1) $ 79,359 129,633 46,084 255,076 Ending balance: individually evaluated for impairment 12,515 14,221 1,691 28,427 Ending balance: collectively evaluated for impairment $ 66,844 115,412 44,393 226,649 Loans: Ending balance: total loans (1)(3) $ 7,507,695 10,955,430 4,625,410 23,088,535 Ending balance: individually evaluated for impairment 112,954 119,805 37,788 270,547 Ending balance: collectively evaluated for impairment $ 7,394,741 10,835,625 4,587,622 22,817,988 (1) For the three months ended June 30, 2017 and 2016, there were no purchased credit-impaired loans and no allowance for loan losses for purchased credit-impaired loans. (2) Total before net deferred fees and costs of $26.0 million . (3) Total before net deferred fees and costs of $27.6 million . The tables below summarize impaired loans (including accruing TDRs) as of June 30, 2017 and December 31, 2016 . Impaired Loans (including accruing TDRs) June 30, 2017 Six Months Ended June 30, 2017 Three Months Ended June 30, 2017 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded Investment properties $ — — — 246 — — — 1-4 family properties 253 2,582 — 380 — 257 — Land and development 2,226 5,539 — 2,193 — 2,246 — Total commercial real estate 2,479 8,121 — 2,819 — 2,503 — Commercial, financial and agricultural 26,913 33,098 — 22,956 — 26,202 — Owner-occupied 13,824 20,250 — 10,383 — 11,910 — Total commercial and industrial 40,737 53,348 — 33,339 — 38,112 — Home equity lines 1,064 1,064 — 1,060 — 1,064 — Consumer mortgages 744 941 — 744 — 744 — Credit cards — — — — — — — Other consumer loans — — — — — — — Total consumer 1,808 2,005 — 1,804 — 1,808 — Total impaired loans with no related allowance recorded $ 45,024 63,474 — 37,962 — 42,423 — With allowance recorded Investment properties $ 29,168 29,168 1,175 29,575 597 29,264 306 1-4 family properties 15,879 15,893 448 16,995 386 16,133 250 Land and development 26,112 26,168 2,763 27,381 299 26,366 126 Total commercial real estate 71,159 71,229 4,386 73,951 1,282 71,763 682 Commercial, financial and agricultural 46,569 46,887 5,524 46,455 787 48,959 436 Owner-occupied 35,583 35,594 1,702 42,814 674 38,318 336 Total commercial and industrial 82,152 82,481 7,226 89,269 1,461 87,277 772 Home equity lines 7,135 7,135 171 8,197 465 7,680 229 Consumer mortgages 18,762 18,762 598 19,720 183 19,009 92 Credit cards — — — — — — — Other consumer loans 3,983 3,984 269 4,692 132 4,380 59 Total consumer 29,880 29,881 1,038 32,609 780 31,069 380 Total impaired loans with allowance recorded $ 183,191 183,591 12,650 195,829 3,523 190,109 1,834 Total impaired loans Investment properties $ 29,168 29,168 1,175 29,821 597 29,264 306 1-4 family properties 16,132 18,475 448 17,375 386 16,390 250 Land and development 28,338 31,707 2,763 29,574 299 28,612 126 Total commercial real estate 73,638 79,350 4,386 76,770 1,282 74,266 682 Commercial, financial and agricultural 73,482 79,985 5,524 69,411 787 75,161 436 Owner-occupied 49,407 55,844 1,702 53,197 674 50,228 336 Total commercial and industrial 122,889 135,829 7,226 122,608 1,461 125,389 772 Home equity lines 8,199 8,199 171 9,257 465 8,744 229 Consumer mortgages 19,506 19,703 598 20,464 183 19,753 92 Credit cards — — — — — — — Other consumer loans 3,983 3,984 269 4,692 132 4,380 59 Total consumer 31,688 31,886 1,038 34,413 780 32,877 380 Total impaired loans $ 228,215 247,065 12,650 233,791 3,523 232,532 1,834 Impaired Loans (including accruing TDRs) December 31, 2016 Year Ended December 31, 2016 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded Investment properties $ 748 793 — 2,013 — 1-4 family properties 643 2,939 — 1,021 — Land and development 2,099 7,243 — 6,769 — Total commercial real estate 3,490 10,975 — 9,803 — Commercial, financial and agricultural 17,958 20,577 — 6,321 — Owner-occupied 5,508 7,377 — 8,394 — Total commercial and industrial 23,466 27,954 — 14,715 — Home equity lines 1,051 1,051 — 1,045 — Consumer mortgages 744 814 — 870 — Credit cards — — — — — Other consumer loans — — — — — Total consumer 1,795 1,865 — 1,915 — Total impaired loans with no related allowance recorded $ 28,751 40,794 — 26,433 — With allowance recorded Investment properties $ 31,489 31,489 2,044 42,659 1,436 1-4 family properties 23,642 23,649 769 39,864 855 Land and development 32,789 32,788 5,103 25,568 995 Total commercial real estate 87,920 87,926 7,916 108,091 3,286 Commercial, financial and agricultural 43,386 45,913 5,687 51,968 1,215 Owner-occupied 53,708 53,942 2,697 52,300 1,946 Total commercial and industrial 97,094 99,855 8,384 104,268 3,161 Home equity lines 9,638 9,638 971 9,668 432 Consumer mortgages 20,953 20,953 673 20,993 1,014 Credit cards — — — — — Other consumer loans 5,140 5,140 167 5,062 303 Total consumer 35,731 35,731 1,811 35,723 1,749 Total impaired loans with allowance recorded $ 220,745 223,512 18,111 248,082 8,196 Total impaired loans Investment properties $ 32,237 32,282 2,044 44,672 1,436 1-4 family properties 24,285 26,588 769 40,885 855 Land and development 34,888 40,031 5,103 32,337 995 Total commercial real estate 91,410 98,901 7,916 117,894 3,286 Commercial, financial and agricultural 61,344 66,490 5,687 58,289 1,215 Owner-occupied 59,216 61,319 2,697 60,694 1,946 Total commercial and industrial 120,560 127,809 8,384 118,983 3,161 Home equity lines 10,689 10,689 971 10,713 432 Consumer mortgages 21,697 21,767 673 21,863 1,014 Credit cards — — — — — Other consumer loans 5,140 5,140 167 5,062 303 Total consumer 37,526 37,596 1,811 37,638 1,749 Total impaired loans $ 249,496 264,306 18,111 274,515 8,196 The average recorded investment in impaired loans was $290.3 million and $281.9 million , respectively, for the six and three months ended June 30, 2016 . Excluding accruing TDRs, there was no interest income recognized for the investment in impaired loans for the six and three months ended June 30, 2016 . Interest income recognized for accruing TDRs was $4.0 million and $2.0 million , respectively, for the six and three months ended June 30, 2016 . At June 30, 2017 and December 31, 2016 , impaired loans of $60.8 million and $53.7 million , respectively, were on non-accrual status. Concessions provided in a TDR are primarily in the form of providing a below market interest rate given the borrower's credit risk, a period of time generally less than one year with a reduction of required principal and/or interest payments (e.g., interest only for a period of time), or an extension of the maturity of the loan generally for less than one year. Insignificant periods of reduction of principal and/or interest payments, or one-time deferrals of 3 months or less, are generally not considered to be financial concessions. The following tables represent, by concession type, the post-modification balance for loans modified or renewed during the six and three months ended June 30, 2017 and 2016 that were reported as accruing or non-accruing TDRs. TDRs by Concession Type Six Months Ended June 30, 2017 (in thousands, except contract data) Number of Contracts Principal Forgiveness Below Market Interest Rate Term Extensions and/or Other Concessions Total Investment properties — $ — — — — 1-4 family properties 16 — 2,089 513 2,602 Land acquisition 1 — — 135 135 Total commercial real estate 17 — 2,089 648 2,737 Commercial, financial and agricultural 28 — 5,760 6,279 12,039 Owner-occupied 1 — — 22 22 Total commercial and industrial 29 — 5,760 6,301 12,061 Home equity lines — — — — — Consumer mortgages 1 — — 9 9 Credit cards — — — — — Other retail loans 8 — — 570 570 Total retail 9 — — 579 579 Total TDRs 55 $ — 7,849 7,528 15,377 (1 ) Three Months Ended June 30, 2017 (in thousands, except contract data) Number of Contracts Principal Forgiveness Below Market Interest Rate Term Extensions and/or Other Concessions Total Investment properties — $ — — — — 1-4 family properties 8 — 478 196 674 Land and development 1 — — 135 135 Total commercial real estate 9 — 478 331 809 Commercial, financial and agricultural 10 — 1,895 740 2,635 Owner-occupied 1 — — 22 22 Total commercial and industrial 11 — 1,895 762 2,657 Home equity lines — — — — — Consumer mortgages 1 — — 9 9 Credit cards — — — — — Other consumer loans 5 — — 295 295 Total consumer 6 — — 304 304 Total TDRs 26 $ — 2,373 1,397 3,770 (1 ) (1) No net charge-offs were recorded during the six and three months ended June 30, 2017 upon restructuring of these loans. TDRs by Concession Type Six Months Ended June 30, 2016 (in thousands, except contract data) Number of Contracts Principal Forgiveness Below Market Interest Rate Term Extensions and/or Other Concessions Total Investment properties 3 $ — 1,826 148 1,974 1-4 family properties 19 — 3,490 1,164 4,654 Land acquisition 11 — — 1,269 1,269 Total commercial real estate 33 — 5,316 2,581 7,897 Commercial, financial and agricultural 45 — 13,948 4,845 18,793 Owner-occupied 6 — 2,667 550 3,217 Total commercial and industrial 51 — 16,615 5,395 22,010 Home equity lines 3 — 224 — 224 Consumer mortgages 6 — 354 51 405 Credit cards — — — — — Other retail loans 17 — 324 1,534 1,858 Total retail 26 — 902 1,585 2,487 Total TDRs 110 $ — 22,833 9,561 32,394 (2 ) Three Months Ended June 30, 2016 (in thousands, except contract data) Number of Contracts Principal Forgiveness Below Market Interest Rate Term Extensions and/or Other Concessions Total Investment properties 1 $ — 1,389 — 1,389 1-4 family properties 12 — 3,095 324 3,419 Land and development 5 — — 734 734 Total commercial real estate 18 — 4,484 1,058 5,542 Commercial, financial and agricultural 15 — 1,934 1,458 3,392 Owner-occupied 2 — 1,132 102 1,234 Total commercial and industrial 17 — 3,066 1,560 4,626 Home equity lines 1 — 28 — 28 Consumer mortgages 3 — 200 51 251 Credit cards — — — — — Other consumer loans 10 — 94 1,449 1,543 Total consumer 14 — 322 1,500 1,822 Total TDRs 49 $ — 7,872 4,118 11,990 (2 ) (2) No net charge-offs were recorded during the six and three months ended June 30, 2016 upon restructuring of these loans. For both the six and three months ended June 30, 2017 , there were three defaults with a recorded investment of $292 thousand on accruing TDRs restructured during the previous twelve months (defaults are defined as the earlier of the TDR being placed on non-accrual status or reaching 90 days past due with respect to principal and/or interest payments) compared to one default for both the six and three months ended June 30, 2016 with a recorded investment of $92 thousand . If, at the time a loan was designated as a TDR, the loan was not already impaired, the measurement of impairment that resulted from the TDR designation closely approximates the reserve derived through specific loan measurement of impairment in accordance with ASC 310-10-35. Generally, the change in the allowance for loan losses resulting from such TDR designation is not significant. At June 30, 2017 , the allowance for loan losses allocated to accruing TDRs totaling $167.4 million was $8.5 million compared to accruing TDRs of $195.8 million with an allocated allowance for loan losses of $9.8 million at December 31, 2016 . Non-accrual, non-homogeneous loans (commercial-type impaired loans greater than $1 million ) that are designated as TDRs are individually measured for the amount of impairment, if any, both before and after the TDR designation. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Other Comprehensive Income (Loss) | Note 7 - Other Comprehensive Income (Loss) The following tables illustrate activity within the balances in accumulated other comprehensive income (loss) by component for the six and three months ended June 30, 2017 and 2016 . Changes in Accumulated Other Comprehensive Income (Loss) by Component (Net of Income Taxes) (in thousands) Net unrealized gains (losses) on cash flow hedges Net unrealized gains (losses) on investment securities available for sale Post-retirement unfunded health benefit Total Balance at December 31, 2016 $ (12,217 ) (44,324 ) 882 (55,659 ) Other comprehensive income before reclassifications — 12,453 — 12,453 Amounts reclassified from accumulated other comprehensive income (loss) 80 (4,715 ) (24 ) (4,659 ) Net current period other comprehensive income 80 7,738 (24 ) 7,794 Balance as of June 30, 2017 $ (12,137 ) (36,586 ) 858 (47,865 ) Balance as of April 1, 2017 $ (12,177 ) (43,444 ) 870 (54,751 ) Other comprehensive income before reclassifications — 6,857 — 6,857 Amounts reclassified from accumulated other comprehensive income (loss) 40 1 (12 ) 29 Net current period other comprehensive income 40 6,858 (12 ) 6,886 Balance as of June 30, 2017 $ (12,137 ) (36,586 ) 858 (47,865 ) Changes in Accumulated Other Comprehensive Income (Loss) by Component (Net of Income Taxes) (in thousands) Net unrealized gains (losses) on cash flow hedges Net unrealized gains (losses) on investment securities available for sale Post-retirement unfunded health benefit Total Balance at December 31, 2015 $ (12,504 ) (18,222 ) 907 (29,819 ) Other comprehensive income before reclassifications — 40,722 — 40,722 Amounts reclassified from accumulated other comprehensive income (loss) 207 (41 ) (64 ) 102 Net current period other comprehensive income 207 40,681 (64 ) 40,824 Balance as of June 30, 2016 $ (12,297 ) 22,459 843 11,005 Balance as of April 1, 2016 $ (12,336 ) 10,747 849 (740 ) Other comprehensive income (loss) before reclassifications — 11,712 — 11,712 Amounts reclassified from accumulated other comprehensive income (loss) 39 — (6 ) 33 Net current period other comprehensive income (loss) 39 11,712 (6 ) 11,745 Balance as of June 30, 2016 $ (12,297 ) 22,459 843 11,005 In accordance with ASC 740-20-45-11(b), a deferred tax asset valuation allowance associated with unrealized gains and losses not recognized in income is charged directly to other comprehensive income (loss). During the years 2010 and 2011, Synovus recorded a deferred tax asset valuation allowance associated with unrealized gains and losses not recognized in income directly to other comprehensive income (loss) by applying the portfolio approach for allocation of the valuation allowance. Synovus has consistently applied the portfolio approach which treats derivative financial instruments, equity securities, and debt securities as a single portfolio. As of June 30, 2017 , the balance in net unrealized gains (losses) on cash flow hedges and net unrealized gains (losses) on investment securities available for sale includes unrealized losses of $12.1 million and $13.3 million , respectively, related to the residual tax effects remaining in OCI due to a previously established deferred tax asset valuation allowance. Under the portfolio approach, these unrealized losses are realized at the time the entire portfolio is sold or disposed. Reclassifications out of Accumulated Other Comprehensive Income (Loss) Details About Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statement Where Net Income is Presented For the Six Months Ended June 30, 2017 2016 Net unrealized gains (losses) on cash flow hedges: Amortization of deferred losses $ (130 ) (140 ) Interest expense Amortization of deferred losses — (197 ) Loss on early extinguishment of debt, net 50 130 Income tax (expense) benefit $ (80 ) (207 ) Reclassifications, net of income taxes Net unrealized gains on investment securities available for sale: Realized gain on sale of securities $ 7,667 67 Investment securities gains, net (2,952 ) (26 ) Income tax (expense) benefit $ 4,715 41 Reclassifications, net of income taxes Post-retirement unfunded health benefit: Amortization of actuarial gains $ 40 104 Salaries and other personnel expense (16 ) (40 ) Income tax (expense) benefit $ 24 64 Reclassifications, net of income taxes Reclassifications out of Accumulated Other Comprehensive Income (Loss) Details About Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statement Where Net Income is Presented For the Three Months Ended June 30, 2017 2016 Net unrealized gains (losses) on cash flow hedges: Amortization of deferred losses $ (65 ) (64 ) Interest expense 25 25 Income tax (expense) benefit $ (40 ) (39 ) Reclassifications, net of income taxes Net unrealized gains on investment securities available for sale: Realized net (loss)gain on sale of securities $ (1 ) — Investment securities gains, net — — Income tax (expense) benefit $ (1 ) — Reclassifications, net of income taxes Post-retirement unfunded health benefit: Amortization of actuarial gains $ 20 10 Salaries and other personnel expense (8 ) (4 ) Income tax (expense) benefit $ 12 6 Reclassifications, net of income taxes |
Fair Value Accounting
Fair Value Accounting | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Accounting | Note 8 - Fair Value Accounting Synovus carries various assets and liabilities at fair value based on the fair value accounting guidance under ASC 820, Fair Value Measurements , and ASC 825, Financial Instruments . Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an “exit price”) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Fair Value Hierarchy Synovus determines the fair value of its financial instruments based on the fair value hierarchy established under ASC 820-10, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the financial instrument's fair value measurement in its entirety. There are three levels of inputs that may be used to measure fair value. The three levels of inputs of the valuation hierarchy are defined below: Level 1 Quoted prices (unadjusted) in active markets for identical assets and liabilities for the instrument or security to be valued. Level 1 assets include marketable equity securities, U.S. Treasury securities, and mutual funds. Level 2 Observable inputs other than Level 1 quoted prices, such as quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active or model-based valuation techniques for which all significant assumptions are derived principally from or corroborated by observable market data. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments and derivative contracts whose value is determined by using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. U.S. Government sponsored agency securities, mortgage-backed securities issued by U.S. Government sponsored enterprises and agencies, obligations of states and municipalities, collateralized mortgage obligations issued by U.S. Government sponsored enterprises, and mortgage loans held-for-sale are generally included in this category. Level 3 Unobservable inputs that are supported by little, if any, market activity for the asset or liability. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow models and similar techniques, and may also include the use of market prices of assets or liabilities that are not directly comparable to the subject asset or liability. These methods of valuation may result in a significant portion of the fair value being derived from unobservable assumptions that reflect Synovus' own estimates for assumptions that market participants would use in pricing the asset or liability. This category primarily includes collateral-dependent impaired loans, other real estate, certain equity investments, private equity investments, GGL/SBA loan servicing assets, and contingent consideration. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 16 - Fair Value Accounting" to the consolidated financial statements of Synovus' 2016 Form 10-K for a description of valuation methodologies for assets and liabilities measured at fair value on a recurring and non-recurring basis. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents all financial instruments measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016 , according to the valuation hierarchy included in ASC 820-10. For equity and debt securities, class was determined based on the nature and risks of the investments. Transfers between levels during the six and three months ended June 30, 2017 and year ended December 31, 2016 were inconsequential. June 30, 2017 (in thousands) Level 1 Level 2 Level 3 Total Assets and Liabilities at Fair Value Assets Trading securities: U.S. Government agency securities — 1,587 — 1,587 Collateralized mortgage obligations issued by U.S. Government sponsored enterprises — 386 — 386 State and municipal securities — 1,072 — 1,072 Total trading securities $ — 3,045 — 3,045 Mortgage loans held for sale — 61,893 — 61,893 Investment securities available for sale: U.S. Treasury securities 83,133 — — 83,133 U.S. Government agency securities — 12,311 — 12,311 Mortgage-backed securities issued by U.S. Government agencies — 132,225 — 132,225 Mortgage-backed securities issued by U.S. Government sponsored enterprises — 2,856,405 — 2,856,405 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — 722,420 — 722,420 State and municipal securities — 290 — 290 Corporate debt and other securities (1) 3,142 15,205 1,927 20,274 Total investment securities available for sale $ 86,275 3,738,856 1,927 3,827,058 Private equity investments — 15,698 15,698 Mutual funds held in rabbi trusts 12,867 — — 12,867 GGL/SBA loans servicing asset — — 4,297 4,297 Derivative assets: Interest rate contracts — 15,332 — 15,332 Mortgage derivatives (2) — 1,393 — 1,393 Total derivative assets $ — 16,725 — 16,725 Liabilities Earnout liability (3) — — 13,941 13,941 Derivative liabilities: Interest rate contracts — 13,389 — 13,389 Visa derivative — — 5,053 5,053 Total derivative liabilities $ — 13,389 5,053 18,442 December 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Assets and Liabilities at Fair Value Assets Trading securities: Mortgage-backed securities issued by U.S. Government agencies — 3,460 — 3,460 Collateralized mortgage obligations issued by U.S. Government sponsored enterprises — 3,438 — 3,438 State and municipal securities — 426 — 426 Other investments 1,890 100 — 1,990 Total trading securities $ 1,890 7,424 — 9,314 Mortgage loans held for sale — 51,545 — 51,545 Investment securities available for sale: U.S. Treasury securities 107,802 — — 107,802 U.S. Government agency securities — 12,993 — 12,993 Mortgage-backed securities issued by U.S. Government agencies — 174,202 — 174,202 Mortgage-backed securities issued by U.S. Government sponsored enterprises — 2,506,340 — 2,506,340 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — 890,442 — 890,442 State and municipal securities — 2,794 — 2,794 Equity securities 3,782 — — 3,782 Corporate debt and other securities (1) 3,092 14,952 1,796 19,840 Total investment securities available for sale $ 114,676 3,601,723 1,796 3,718,195 Private equity investments — — 25,493 25,493 Mutual funds held in rabbi trusts 11,479 — — 11,479 Derivative assets: Interest rate contracts — 17,157 — 17,157 Mortgage derivatives (2) — 3,466 — 3,466 Total derivative assets $ — 20,623 — 20,623 Liabilities Earnout liability (3) — — 14,000 14,000 Derivative liabilities: Interest rate contracts — 17,531 — 17,531 Visa derivative — — 5,768 5,768 Total derivative liabilities $ — 17,531 5,768 23,299 (1) Based on an analysis of the nature and risks of these investments, Synovus has determined that presenting these investments as a single asset class is appropriate. (2) Mortgage derivatives consist of customer interest rate lock commitments that relate to the potential origination of mortgage loans, which would be classified as held for sale and forward loan sales commitments with third-party investors. (3) Earnout liability consists of contingent consideration obligation related to the Global One acquisition. Fair Value Option The following table summarizes the difference between the fair value and the unpaid principal balance of mortgage loans held for sale measured at fair value and the changes in fair value of these loans. Mortgage loans held for sale are initially measured at fair value with subsequent changes in fair value recognized in earnings. Changes in fair value are recorded as a component of mortgage banking income in the Consolidated Statements of Income. An immaterial portion of these changes in fair value was attributable to changes in instrument-specific credit risk. Changes in Fair Value Included in Net Income For the Six Months Ended June 30, For the Three Months Ended June 30, (in thousands) 2017 2016 2017 2016 Mortgage loans held for sale $ 954 1,850 $ (249 ) 878 Mortgage Loans Held for Sale (in thousands) As of June 30, 2017 As of December 31, 2016 Fair value $ 61,893 51,545 Unpaid principal balance 60,508 51,114 Fair value less aggregate unpaid principal balance $ 1,385 431 Changes in Level 3 Fair Value Measurements and Quantitative Information about Level 3 Fair Value Measurements As noted above, Synovus uses significant unobservable inputs in determining the fair value of assets and liabilities classified as Level 3 in the fair value hierarchy. The table below includes a roll-forward of the amounts on the Consolidated Balance Sheets for the six and three months ended June 30, 2017 and 2016 (including the change in fair value), for financial instruments of a material nature that are classified by Synovus within Level 3 of the fair value hierarchy and are measured at fair value on a recurring basis. Transfers between fair value levels are recognized at the end of the reporting period in which the associated changes in inputs occur. During the six and three months ended June 30, 2017 and 2016 , Synovus did not have any transfers between levels in the fair value hierarchy. Six Months Ended June 30, 2017 (in thousands) Investment Securities Available for Sale Private Equity Investments Visa Derivative Earnout Liability (1) GGL / SBA Loans Servicing Asset (2) Beginning balance, January 1, $ 1,796 25,493 (5,768 ) (14,000 ) — Total gains (losses) realized/unrealized: Included in earnings — (3,166 ) — (1,707 ) (694 ) Unrealized gains (losses) included in other comprehensive income 131 — — — — Additions — — — — 539 Sales and settlements — (6,629 ) 715 — — Transfer from amortization method to fair value — — — — 4,452 Measurement period adjustments related to Global One acquisition — — — 1,766 — Ending balance, June 30, $ 1,927 15,698 (5,053 ) (13,941 ) 4,297 Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at June 30, $ — (3,166 ) — (1,707 ) (694 ) Three Months Ended June 30, 2017 (in thousands) Investment Securities Available for Sale Private Equity Investments Visa Derivative Earnout Liability (1) GGL / SBA Loans Servicing Asset (2) Beginning balance, April 1, $ 1,851 23,679 (5,412 ) (11,421 ) 4,178 Total gains (losses) realized/unrealized: Included in earnings — (1,352 ) — (1,707 ) (376 ) Unrealized gains (losses) included in other comprehensive income 76 — — — — Additions — — — — 495 Sales and settlements — (6,629 ) 359 — — Measurement period adjustments related to Global One acquisition — — — (813 ) — Ending balance, June 30, $ 1,927 15,698 (5,053 ) (13,941 ) 4,297 Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at June 30, $ — (1,352 ) — (1,707 ) (376 ) (1) Earnout liability consists of contingent consideration obligation related to the Global One acquisition. (2) Effective January 1, 2017, Synovus elected the fair value option for determining the value of the GGL/SBA loans servicing asset. Synovus has retained servicing responsibilities on sold GGL/SBA loans and receives a servicing fee. The servicing asset is established at fair value at the time of the sale based on an analysis of future cash flows that incorporates estimates for discount rates, prepayment speeds, and delinquency rates. The servicing asset is measured at fair value on a quarterly basis with changes in fair value included with the associated servicing fee in other non-interest income. Prior to 2017, Synovus accounted for the GGL/SBA loans servicing asset using the amortization method. Six Months Ended June 30, 2016 (in thousands) Investment Securities Available for Sale Private Equity Investments Visa Derivative Beginning balance, January 1, $ 1,745 27,148 (1,415 ) Total gains (losses) realized/unrealized: Included in earnings — (278 ) (720 ) Unrealized gains (losses) included in other comprehensive income (120 ) — — Settlements — (4 ) 720 Ending balance, June 30, $ 1,625 26,866 (1,415 ) Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at June 30, $ — (278 ) (720 ) Three Months Ended June 30, 2016 (in thousands) Investment Securities Available for Sale Private Equity Investments Visa Derivative Beginning balance, April 1, $ 1,638 26,757 (1,415 ) Total gains (losses) realized/unrealized: Included in earnings — 113 (360 ) Unrealized gains (losses) included in other comprehensive income (13 ) — — Settlements — (4 ) 360 Ending balance, June 30, $ 1,625 26,866 (1,415 ) Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at June 30, $ — 113 (360 ) The table below provides an overview of the valuation techniques and significant unobservable inputs used in those techniques to measure financial instruments that are classified within Level 3 of the valuation hierarchy and are measured at fair value on a recurring basis. June 30, 2017 December 31, 2016 Valuation Technique Significant Unobservable Input Range/Weighted Average Range/Weighted Average Assets and liabilities measured at fair value on a recurring basis Investment Securities Available for Sale - Other Investments: Trust preferred securities Discounted cash flow analysis Credit spread embedded in discount rate 392 bps 442 bps Private equity investments Individual analysis of each investee company Multiple factors, including but not limited to, current operations, financial condition, cash flows, evaluation of business management and financial plans, and recently executed financing transactions related to the investee companies N/A N/A Discount for lack of liquidity (1) N/A 15% GGL/SBA loans servicing asset Discounted cash flow analysis Discount rate Prepayment speeds 12.01% 6.75% N/A Earnout liability Option pricing methods and Monte Carlo simulation Global One Earnout, as defined in merger agreement, for the five years ending October 1, 2021 $11.8 million - $16.7 million $9.3 million - $14.2 million Visa derivative liability Discounted cash flow analysis Estimated timing of resolution of covered litigation, future cumulative deposits to the litigation escrow for settlement of the covered litigation, and estimated future monthly fees payable to the derivative counterparty 1-5 years 1-5 years (1) Represents management's estimate of discount that market participants would require based on the instrument's lack of liquidity. Assets Measured at Fair Value on a Non-recurring Basis Certain assets are recorded at fair value on a non-recurring basis. These non-recurring fair value adjustments typically are a result of the application of lower of cost or fair value accounting or a write-down occurring during the period. For example, if the fair value of an asset in these categories falls below its cost basis, it is considered to be at fair value at the end of the period of the adjustment. The following table presents assets measured at fair value on a non-recurring basis as of the dates indicated for which there was a fair value adjustment during the period. June 30, 2017 December 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Impaired loans * $ — — 11,773 11,773 — — 21,742 21,742 Other real estate — — 12,367 12,367 — — 19,305 19,305 Other assets held for sale — — — — — — 12,083 12,083 * Collateral-dependent impaired loans that were written down to fair value during the period. The following table presents fair value adjustments recognized in earnings for the three months ended June 30, 2017 and 2016 for the assets measured at fair value on a non-recurring basis. Six Months Ended June 30, Three Months Ended June 30, (in thousands) 2017 2016 2017 2016 Impaired loans * $ 5,808 1,162 $ 5,776 — Other loans held for sale 3,519 — — — Other real estate 518 3,306 280 2,053 Other assets held for sale 238 6,625 — 5,593 * Collateral-dependent impaired loans that were written down to fair value during the period. The table below provides an overview of the valuation techniques and significant unobservable inputs used in those techniques to measure financial instruments that are classified within Level 3 of the valuation hierarchy and are measured at fair value on a non-recurring basis. The range of sensitivities that management utilized in its fair value calculations is deemed acceptable in the industry with respect to the identified financial instruments. June 30, 2017 December 31, 2016 Valuation Technique Significant Unobservable Input Range (Weighted Average) (1) Range (Weighted Average) (1) Assets measured at fair value on a non-recurring basis Collateral dependent impaired loans Third-party appraised value of collateral less estimated selling costs Discount to appraised value (2) Estimated selling costs 0% - 60% (46%) 0% - 10% (7%) 0%-52% (25%) 0%-10% (7%) Other loans held for sale Third-party appraised value of collateral less estimated selling costs Discount to appraised value (2) Estimated selling costs N/A N/A Other real estate Third-party appraised value of real estate less estimated selling costs Discount to appraised value (2) Estimated selling costs 0% - 35% (8%) 0% - 10% (7%) 0%-10% (5%) 0%-10% (7%) Other assets held for sale Third-party appraised value less estimated selling costs or BOV Discount to appraised value (2) Estimated selling costs N/A 0%-81% (47%) 0%-10% (7%) (1) The range represents management's estimate of the high and low of the value that would be assigned to a particular input. For assets measured at fair value on a non-recurring basis, the weighted average is the measure of central tendencies; it is not the value that management is using for the asset or liability. (2) Synovus also makes adjustments to the values of the assets listed above for reasons including age of the appraisal, information known by management about the property, such as occupancy rates, changes to the physical condition of the property, and other factors. Fair Value of Financial Instruments The following table presents the carrying and fair values of financial instruments at June 30, 2017 and December 31, 2016 . The fair values represent management’s estimates based on various methodologies and assumptions. For financial instruments that are not recorded at fair value on the balance sheet, such as loans held for investment, interest bearing deposits (including brokered deposits), and long-term debt, the fair value amounts should not be taken as an estimate of the amount that would be realized if all such financial instruments were to be settled immediately. The carrying and estimated fair values of financial instruments, as well as the level within the fair value hierarchy, as of June 30, 2017 and December 31, 2016 are as follows: June 30, 2017 (in thousands) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 377,213 377,213 377,213 — — Interest bearing funds with Federal Reserve Bank 468,148 468,148 468,148 — — Interest earning deposits with banks 6,012 6,012 6,012 — — Federal funds sold and securities purchased under resale agreements 46,847 46,847 46,847 — — Trading account assets 3,045 3,045 — 3,045 — Mortgage loans held for sale 61,893 61,893 — 61,893 — Other loans held for sale 127 127 — 127 — Investment securities available for sale 3,827,058 3,827,058 86,275 3,738,856 1,927 Private equity investments 15,698 15,698 — — 15,698 Mutual funds held in rabbi trusts 12,867 12,867 12,867 — — Loans, net of deferred fees and costs 24,430,512 24,191,120 — — 24,191,120 GGL/SBA loans servicing asset 4,297 4,297 — — 4,297 Derivative assets 16,725 16,725 — 16,725 — Financial liabilities Non-interest bearing deposits 7,363,476 7,363,476 — 7,363,476 — Interest bearing deposits 17,855,340 17,852,694 — 17,852,694 — Federal funds purchased, other short-term borrowings and other short-term liabilities 150,379 150,379 150,379 — — Long-term debt 2,107,245 2,155,543 — 2,155,543 — Other liabilities 13,941 13,941 — — 13,941 Derivative liabilities 18,442 18,442 — 13,389 5,053 December 31, 2016 (in thousands) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 395,175 395,175 395,175 — — Interest bearing funds with Federal Reserve Bank 527,090 527,090 527,090 — — Interest earning deposits with banks 18,720 18,720 18,720 — — Federal funds sold and securities purchased under resale agreements 58,060 58,060 58,060 — — Trading account assets 9,314 9,314 1,890 7,424 — Mortgage loans held for sale 51,545 51,545 — 51,545 — Investment securities available for sale 3,718,195 3,718,195 114,676 3,601,723 1,796 Private equity investments 25,493 25,493 — — 25,493 Mutual funds held in rabbi trusts 11,479 11,479 11,479 — — Loans, net of deferred fees and costs 23,856,391 23,709,434 — — 23,709,434 Derivative assets 20,623 20,623 — 20,623 — Financial liabilities Non-interest bearing deposits 7,085,804 7,085,804 — 7,085,804 — Interest bearing deposits 17,562,256 17,560,021 — 17,560,021 — Federal funds purchased, other short-term borrowings and other short-term liabilities 159,699 159,699 159,699 — — Long-term debt 2,160,881 2,217,544 — 2,217,544 — Other liabilities 14,000 14,000 — — 14,000 Derivative liabilities 23,299 23,299 — 17,531 5,768 |
Derivative Instruments
Derivative Instruments | 6 Months Ended |
Jun. 30, 2017 | |
Summary of Derivative Instruments [Abstract] | |
Derivative Instruments | Note 9 - Derivative Instruments As part of its overall interest rate risk management activities, Synovus utilizes derivative instruments to manage its exposure to various types of interest rate risk. These derivative instruments generally consist of interest rate swaps, interest rate lock commitments made to prospective mortgage loan customers, and commitments to sell fixed-rate mortgage loans. Interest rate lock commitments represent derivative instruments since it is intended that such loans will be sold. Synovus may also utilize interest rate swaps to manage interest rate risks primarily arising from its core banking activities. These interest rate swap transactions generally involve the exchange of fixed and floating interest rate payment obligations without the exchange of underlying principal amounts. Swaps may be designated as either cash flow hedges or fair value hedges, as discussed below. As of June 30, 2017 and December 31, 2016 , Synovus had no outstanding interest rate swap contracts utilized to manage interest rate risk related to core banking activities. Synovus is party to master netting arrangements with its dealer counterparties; however, Synovus does not offset assets and liabilities under these arrangements for financial statement presentation purposes. Counterparty Credit Risk and Collateral Entering into derivative contracts potentially exposes Synovus to the risk of counterparties’ failure to fulfill their legal obligations, including, but not limited to, potential amounts due or payable under each derivative contract. Notional principal amounts are often used to express the volume of these transactions, but the amounts potentially subject to credit risk are much smaller. Synovus assesses the credit risk of its dealer counterparties by regularly monitoring publicly available credit rating information, evaluating other market indicators, and periodically reviewing detailed financials. Dealer collateral requirements are determined via risk-based policies and procedures and in accordance with existing agreements. Synovus seeks to minimize dealer credit risk by dealing with highly rated counterparties and by obtaining collateral for exposures above certain predetermined limits. Management closely monitors credit conditions within the customer swap portfolio, which management deems to be of higher risk than dealer counterparties. Collateral is secured at origination and credit related fair value adjustments are recorded against the asset value of the derivative as deemed necessary based upon an analysis, which includes consideration of the current asset value of the swap, customer credit rating, collateral value, and customer standing with regards to its swap contractual obligations and other related matters. Such asset values fluctuate based upon changes in interest rates regardless of changes in notional amounts and changes in customer specific risk. Cash Flow Hedges As of June 30, 2017 and December 31, 2016, there were no cash flow hedges outstanding. The unamortized deferred net loss balance from previously terminated cash flow hedges at December 31, 2016 of $(130) thousand was recognized during the six months ended June 30, 2017 . Fair Value Hedges As of June 30, 2017 and December 31, 2016, there were no fair value hedges outstanding. The unamortized deferred gain balance on all previously terminated fair value hedges at December 31, 2016 of $873 thousand was recognized during the six months ended June 30, 2017 . Customer Related Derivative Positions Synovus enters into interest rate swap agreements to facilitate the risk management strategies of a small number of commercial banking customers. Synovus mitigates this risk by entering into equal and offsetting interest rate swap agreements with highly rated counterparties. The interest rate swap agreements are free-standing derivatives and are recorded at fair value on Synovus' Consolidated Balance Sheets. Fair value changes are recorded as a component of non-interest income. As of June 30, 2017 , the notional amount of customer related interest rate derivative financial instruments, including both the customer position and the offsetting position, was $1.49 billion , an increase of $160.4 million compared to December 31, 2016 . Visa Derivative In conjunction with the sale of Class B shares of common stock issued by Visa to Synovus as a Visa USA member, Synovus entered into a derivative contract with the purchaser, which provides for settlements between the parties based upon a change in the ratio for conversion of Visa Class B shares to Visa Class A shares. The conversion ratio changes when Visa deposits funds to a litigation escrow established by Visa to pay settlements for certain litigation, for which Visa is indemnified by Visa USA members. The litigation escrow is funded by proceeds from Visa’s conversion of Class B shares. The fair value of the derivative contract was $5.1 million and $5.8 million at June 30, 2017 and December 31, 2016 , respectively. The fair value of the derivative contract is determined based on management's estimate of the timing and amount of the Covered Litigation settlement, and the resulting payments due to the counterparty under the terms of the contract. Management believes that the estimate of Synovus' exposure to the Visa indemnification and fees associated with the Visa derivative is adequate based on current information, including Visa's recent announcements and disclosures. However, future developments in the litigation could require potentially significant changes to Synovus' estimate. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 19 - Visa Shares and Related Agreements" of Synovus' 2016 Form 10-K for further information. Mortgage Derivatives Synovus originates first lien residential mortgage loans for sale into the secondary market. Mortgage loans are sold by Synovus for conversion to securities and the servicing of these loans is generally sold to a third-party servicing aggregator, or Synovus sells the mortgage loans as whole loans to investors either individually or in bulk on a servicing released basis. Synovus enters into interest rate lock commitments for residential mortgage loans which commits it to lend funds to a potential borrower at a specific interest rate and within a specified period of time. Interest rate lock commitments that relate to the origination of mortgage loans that, if originated, will be held for sale, are considered derivative financial instruments under applicable accounting guidance. Outstanding interest rate lock commitments expose Synovus to the risk that the price of the mortgage loans underlying the commitments may decline due to increases in mortgage interest rates from inception of the rate lock to the funding of the loan. At June 30, 2017 and December 31, 2016 , Synovus had commitments to fund at a locked interest rate, primarily fixed-rate mortgage loans to customers in the amount of $ 87.8 million and $88.2 million , respectively. Fair value adjustments related to these commitments resulted in a loss of $(416) thousand and a gain of $1.2 million for the six months ended June 30, 2017 and 2016 , respectively, which was recorded as a component of mortgage banking income in the Consolidated Statements of Income. At June 30, 2017 and December 31, 2016 , outstanding commitments to sell primarily fixed-rate mortgage loans amounted to $102.5 million and $126.5 million , respectively. Such commitments are entered into to reduce the exposure to market risk arising from potential changes in interest rates, which could affect the fair value of mortgage loans held for sale and outstanding rate lock commitments, which guarantee a certain interest rate if the loan is ultimately funded or granted by Synovus as a mortgage loan held for sale. The commitments to sell mortgage loans are at fixed prices and are scheduled to settle at specified dates that generally do not exceed 90 days. Fair value adjustments related to these outstanding commitments to sell mortgage loans resulted in a loss of $(1.7) million and $(1.6) million for the six months ended June 30, 2017 and 2016 , respectively, which were recorded as a component of mortgage banking income in the Consolidated Statements of Income. Collateral Requirements Pursuant to the Dodd-Frank Act, certain derivative transactions have collateral requirements, both at the inception of the trade and as the value of each derivative position changes. As of June 30, 2017 , collateral totaling $43.3 million of federal funds sold was pledged to the derivative counterparties to comply with collateral requirements. Effective January 3, 2017, the CME amended its rulebook to legally characterize variation margin cash payments for cleared OTC derivatives as settlement rather than as collateral. As a result, in 2017, Synovus began reducing the corresponding derivative asset and liability balances for CME-cleared OTC derivatives to reflect the settlement of those positions via the exchange of variation margin. The impact of derivative instruments on the Consolidated Balance Sheets at June 30, 2017 and December 31, 2016 is presented below. Fair Value of Derivative Assets Fair Value of Derivative Liabilities (in thousands) Location on Consolidated Balance Sheets June 30, 2017 December 31, 2016 Location on Consolidated Balance Sheets June 30, 2017 December 31, 2016 Derivatives not designated as hedging instruments: Interest rate contracts Other assets $ 15,332 17,157 Other liabilities 13,389 17,531 Mortgage derivatives Other assets 1,393 3,466 Other liabilities — — Visa derivative — — Other liabilities 5,053 5,768 Total derivatives not designated as hedging instruments $ 16,725 20,623 18,442 23,299 The pre-tax effect of fair value hedges on the Consolidated Statements of Income for the six and three months ended June 30, 2017 and 2016 is presented below. Location of Gain (Loss) Recognized in Income Gain (Loss) Recognized in Income (in thousands) Six Months Ended June 30, Derivatives not designated as hedging instruments 2017 2016 Interest rate contracts (1) Other non-interest income $ (1 ) 33 Mortgage derivatives (2) Mortgage banking income (2,073 ) (485 ) Total $ (2,074 ) (452 ) Gain (Loss) Recognized in Income (in thousands) Three Months Ended June 30, Derivatives not designated as hedging instruments Location of Gain (Loss) Recognized in Income 2017 2016 Interest rate contracts (1) Other non-interest income $ — 27 Mortgage derivatives (2) Mortgage banking income (289 ) (335 ) Total $ (289 ) (308 ) (1) Gain (loss) represents net fair value adjustments (including credit related adjustments) for customer swaps and offsetting positions. (2) Gain (loss) represents net fair value adjustments recorded for interest rate lock commitments and commitments to sell mortgage loans to third-party investors. During the six months ended June 30, 2017 and 2016 , Synovus reclassified $873 thousand and $950 thousand , respectively, from hedge-related basis adjustment, a component of long-term debt, as a reduction to interest expense. During the six months ended June 30, 2016 , Synovus reclassified $1.3 million from hedge-related basis adjustment, as a reduction to loss on early extinguishment of debt, net. As of June 30, 2017, all deferred gains related to hedging relationships that had been previously terminated had been recognized into earnings. |
Net Income Per Common Share
Net Income Per Common Share | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Net Income Per Common Share | Note 10 - Net Income Per Common Share The following table displays a reconciliation of the information used in calculating basic and diluted earnings per common share for the six and three months ended June 30, 2017 and 2016 . Six Months Ended June 30, Three Months Ended June 30, (in thousands, except per share data) 2017 2016 2017 2016 Basic Net Income Per Common Share: Net income available to common shareholders $ 142,742 107,870 $ 73,444 57,898 Weighted average common shares outstanding 122,251 126,164 122,203 125,100 Net income per common share, basic $ 1.17 0.85 $ 0.60 0.46 Diluted Net Income Per Common Share: Net income available to common shareholders $ 142,742 107,870 $ 73,444 57,898 Weighted average common shares outstanding 122,251 126,164 122,203 125,100 Potentially dilutive shares from outstanding equity-based awards 792 614 824 599 Weighted average diluted common shares 123,043 126,778 123,027 125,699 Net income per common share, diluted $ 1.16 0.85 $ 0.60 0.46 Basic net income per common share is computed by dividing net income by the average common shares outstanding for the period. Diluted net income per common share reflects the dilution that could occur if securities or other contracts to issue common stock were exercised or converted. The dilutive effect of outstanding options and restricted share units is reflected in diluted net income per common share, unless the impact is anti-dilutive, by application of the treasury stock method. As of June 30, 2017 and 2016 , there were 2.2 million and 2.5 million , respectively, potentially dilutive shares related to the Warrant and stock options to purchase shares of common stock that were outstanding during 2017 and 2016 , but were not included in the computation of diluted net income per common share because the effect would have been anti-dilutive. |
Share-based Compensation
Share-based Compensation | 6 Months Ended |
Jun. 30, 2017 | |
Share-based Compensation [Abstract] | |
Share-based Compensation | Note 11 - Share-based Compensation General Description of Share-based Plans Synovus has a long-term incentive plan under which the Compensation Committee of the Board of Directors has the authority to grant share-based awards to Synovus employees. At June 30, 2017 , Synovus had a total of 5.7 million shares of its authorized but unissued common stock reserved for future grants under the 2013 Omnibus Plan. The 2013 Omnibus Plan authorizes 8.6 million common share equivalents available for grant, where grants of options count as one share equivalent and grants of full value awards (e.g., restricted share units, market restricted share units, and performance share units) count as two share equivalents. Any restricted share units that are forfeited and options that expire unexercised will again become available for issuance under the Plan. The Plan permits grants of share-based compensation including stock options, restricted share units, market restricted share units, and performance share units. The grants generally include vesting periods ranging from three to five years and contractual terms of ten years. Stock options are granted at exercise prices which equal the fair value of a share of common stock on the grant-date. Market restricted share units and performance share units are granted at target and are compared annually to required market and performance metrics to determine final units vested and compensation expense. Synovus has historically issued new shares to satisfy share option exercises and share unit conversions. Dividend equivalents are paid on outstanding restricted share units, market restricted share units, and performance share units in the form of additional restricted share units that vest over the same vesting period or the vesting period left on the original restricted share unit grant. Share-based Compensation Expense Total share-based compensation expense was $6.8 million and $3.5 million for the six and three months ended June 30, 2017 , respectively, and $6.8 million and $3.5 million for the six and three months ended June 30, 2016 , respectively. Stock Options No stock option grants were made during the six months ended June 30, 2017 . At June 30, 2017 , there were 826 thousand outstanding stock options to purchase shares of common stock with a weighted average exercise price of $17.81 per share. Restricted Share Units, Performance Share Units, and Market Restricted Share Units During the six months ended June 30, 2017 , Synovus awarded 230 thousand restricted share units that have a service-based vesting period of three years and awarded 73 thousand performance share units that vest upon service and performance conditions. Synovus also granted 73 thousand market restricted share units during the six months ended June 30, 2017 . The weighted average grant-date fair value of the awarded restricted share units, performance share units and market restricted share units was $41.93 per share. Market restricted share units and performance share units are granted at target and are compared annually to required market and performance metrics. The performance share units vest upon meeting certain service and performance conditions. Return on average assets (ROAA) performance is evaluated each year over a three-year performance period, with share distribution determined at the end of the three years. The number of performance share units that will ultimately vest ranges from 0% to 150% of target based on Synovus' three-year weighted average ROAA (as defined). The market restricted share units have a three -year service-based vesting component as well as a total shareholder return multiplier. The number of market restricted share units that will ultimately vest ranges from 75% to 125% of target based on Synovus' total shareholder return. At June 30, 2017 , including dividend equivalents granted, there were 983 thousand restricted share units, performance share units and market restricted share units outstanding with a weighted average grant-date fair value of $32.82 per share. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 12 - Commitments and Contingencies In the normal course of business, Synovus enters into commitments to extend credit such as loan commitments and letters of credit to meet the financing needs of its customers. Synovus uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The contractual amount of these financial instruments represents Synovus' maximum credit risk should the counterparty draw upon the commitment, and should the counterparty subsequently fail to perform according to the terms of the contract. Since many of the commitments are expected to expire without being drawn upon, total commitment amounts do not necessarily represent future cash requirements. Additionally, certain commitments (primarily consumer) can generally be canceled by providing notice to the borrower. The allowance for credit losses associated with unfunded commitments and letters of credit is a component of the unfunded commitments reserve recorded within other liabilities on the Consolidated Balance Sheets. Additionally, unearned fees relating to letters of credit are recorded within other liabilities on the Consolidated Balance Sheets. These amounts are not material to Synovus' Consolidated Balance Sheets. Unfunded lending commitments and letters of credit at June 30, 2017 and December 31, 2016 are presented below. (in thousands) June 30, 2017 December 31, 2016 Letters of credit* $ 155,542 150,948 Commitments to fund commercial real estate, construction, and land development loans 1,427,947 1,394,162 Unused credit card lines 1,152,324 1,103,431 Commitments under home equity lines of credit 1,126,766 1,096,052 Commitments to fund commercial and industrial loans 5,039,168 4,792,834 Other loan commitments 308,386 307,772 Total unfunded lending commitments and letters of credit $ 9,210,133 8,845,199 * Represent the contractual amount net of risk participations of approximately $61 million and $83 million at June 30, 2017 and December 31, 2016, respectively. |
Legal Proceedings
Legal Proceedings | 6 Months Ended |
Jun. 30, 2017 | |
Legal Proceedings Disclosure [Abstract] | |
Legal Proceedings | Note 13 - Legal Proceedings Synovus and its subsidiaries are subject to various legal proceedings and claims that arise in the ordinary course of its business. Additionally, in the ordinary course of business, Synovus and its subsidiaries are subject to regulatory examinations, information gathering requests, inquiries and investigations. Synovus, like many other financial institutions, has been the target of numerous legal actions and other proceedings asserting claims for damages and related relief for losses. These actions include claims and counterclaims asserted by individual borrowers related to their loans and allegations of violations of state and federal laws and regulations relating to banking practices, including putative class action matters. In addition to actual damages if Synovus does not prevail in asserted legal actions, credit-related litigation could result in additional write-downs or charge-offs of loans, which could adversely affect Synovus' results of operations during the period in which the write-down or charge-off were to occur. Synovus carefully examines and considers each legal matter, and, in those situations where Synovus determines that a particular legal matter presents loss contingencies that are both probable and reasonably estimable, Synovus establishes an appropriate accrual. An event is considered to be probable if the future event is likely to occur. While the final outcome of any legal proceeding is inherently uncertain, based on the information currently available, advice of counsel and available insurance coverage, management believes that the amounts accrued with respect to legal matters as of June 30, 2017 are adequate. The actual costs of resolving legal claims may be higher or lower than the amounts accrued. In addition, where Synovus determines that there is a reasonable possibility of a loss in respect of legal matters, Synovus considers whether it is able to estimate the total reasonably possible loss or range of loss. An event is “reasonably possible” if “the chance of the future event or events occurring is more than remote but less than likely.” An event is “remote” if “the chance of the event or future event occurring is more than slight but less than reasonably possible." In many situations, Synovus may be unable to estimate reasonably possible losses due to the preliminary nature of the legal matters, as well as a variety of other factors and uncertainties. For those legal matters where Synovus is able to estimate a range of reasonably possible losses, management currently estimates the aggregate range from our outstanding litigation is from zero to $12 million in excess of the amounts accrued, if any, related to those matters. This estimated aggregate range is based upon information currently available to Synovus, and the actual losses could prove to be higher. As there are further developments in these legal matters, Synovus will reassess these matters, and the estimated range of reasonably possible losses may change as a result of this assessment. Based on Synovus' current knowledge and advice of counsel, management presently does not believe that the liabilities arising from these legal matters will have a material adverse effect on Synovus' consolidated financial condition, results of operations or cash flows. However, it is possible that the ultimate resolution of these legal matters could have a material adverse effect on Synovus' results of operations for any particular period. Synovus intends to vigorously pursue all available defenses to these legal matters, but will also consider other alternatives, including settlement, in situations where there is an opportunity to resolve such legal matters on terms that Synovus considers to be favorable, including in light of the continued expense and distraction of defending such legal matters. Synovus maintains insurance coverage, which may be available to cover legal fees, or potential losses that might be incurred in connection with such legal matters. The above-noted estimated range of reasonably possible losses does not take into consideration insurance coverage which may or may not be available for the respective legal matters. |
Agreement with World's Foremost
Agreement with World's Foremost Bank and Capital One Bank | 6 Months Ended |
Jun. 30, 2017 | |
Assumptions for Deposits [Abstract] | |
Agreement with World's Foremost Bank and Capital One Bank | Note 14 - Agreement with World's Foremost Bank and Capital One Bank On April 17, 2017, Synovus Bank entered into a definitive agreement to acquire certain card assets and assume certain liabilities of World's Foremost Bank (WFB), a wholly-owned subsidiary of Cabela's Incorporated. Immediately following the closing of this transaction, Synovus will sell the credit card assets and related liabilities to Capital One Bank (USA), National Association, a subsidiary of Capital One Financial Corporation (Capital One), while retaining the brokered time deposits portfolio. As of June 30, 2017 the WFB brokered deposits portfolio had a carrying value of approximately $1.1 billion . Pursuant to the terms of the agreement, Synovus will receive $75 million in consideration from Cabela's and Capital One upon closing. Closing of the transaction is subject to customary regulatory approvals and the satisfaction of other closing conditions. The transaction will be accounted for as an assumption of liabilities pursuant to the asset acquisition model and the earning of fees for services performed. The $75 million in consideration will be recorded as a transaction fee, to be recognized upon closing of the transaction as no continuing involvement or contingencies with respect to the sale of the credit card assets and related liabilities will exist. If the transaction between Synovus and Capital One referred to above does not occur immediately after the transaction between Synovus and WFB, then the transaction between Synovus and WFB will be rescinded, including repayment of any cash amounts paid and return of any assets and liabilities transferred, such that Cabela’s, WFB, Capital One and Synovus will be in the same position as if the transaction had never occurred. Additionally, the deposit liabilities acquired by Synovus will be recorded at fair value determined in accordance with the Brokered CD Curve Discount Methodology, as defined in the agreement. In the event that the book value of the deposits is less than the fair value of the deposits, Capital One will provide a cash payment to Synovus to compensate Synovus for the difference; however, Synovus is not required to make any payment if the fair value of the deposits is less than the book value. At June 30, 2017 the deposit portfolio had a weighted average cost of funds of approximately 1.82% , maturities ranging from 2017 through 2023, and a weighted average maturity of approximately 2.79 years. For additional information regarding this transaction, please refer to Synovus' Current Report on Form 8-K filed with the SEC on April 17, 2017. |
Significant Accounting Polici23
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the instructions to the SEC Form 10-Q and Article 10 of Regulation S-X; therefore, they do not include all information and footnotes necessary for a fair presentation of financial position, results of operations, comprehensive income, and cash flows in conformity with GAAP. All adjustments consisting of normally recurring accruals that, in the opinion of management, are necessary for a fair presentation of the consolidated financial position and results of operations for the periods covered by this Report have been included. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes appearing in Synovus' 2016 Form 10-K. There have been no significant changes to the accounting policies as disclosed in Synovus' 2016 Form 10-K. In preparing the unaudited interim consolidated financial statements in accordance with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the respective consolidated balance sheets and the reported amounts of revenues and expenses for the periods presented. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, the fair value of investment securities, the fair value of private equity investments, and contingent liabilities related to legal matters. |
Cash and Cash Equivalents | Cash and cash equivalents consist of cash and due from banks. |
Short-term Investment | Short-term investments consist of interest bearing funds with the Federal Reserve Bank, interest earning deposits with banks, and federal funds sold and securities purchased under resale agreements. |
Recently Adopted Accounting Standards Updates | During 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 simplifies various aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. This accounting standard update includes a requirement to record all tax effects associated with share-based compensation through the income statement. Prior to 2017, tax benefits in excess of compensation cost (“windfalls”) and tax deficiencies (“shortfalls”) were recorded in equity. During the six and three months ended June 30, 2017 , Synovus recognized $4.5 million and $378 thousand , respectively, of income tax benefits from excess tax benefits that occurred during the six months ended June 30, 2017 from the vesting of restricted share units and exercise of stock options. As of January 1, 2017, Synovus had no previously unrecognized excess tax benefits. Additionally, beginning January 1, 2017, Synovus modified the denominator in the diluted earnings per common share calculation under the treasury stock method to exclude future excess tax benefits as part of the assumed proceeds. Synovus elected to retain its existing accounting policy election to estimate award forfeitures. During 2015, the FASB issued ASU 2015-17, Income Taxes: Balance Sheet Classification of Deferred Taxes , which became effective January 1, 2017. ASU 2015-17 requires that deferred income tax liabilities and assets be classified as noncurrent in the statement of financial position instead of separating deferred taxes into current and noncurrent amounts. Also, valuation allowances will no longer be classified between current and noncurrent because these allowances will be required to be classified as noncurrent under the new standard. This ASU only impacts classification in the balance sheet, and has no impact on required deferred tax footnote disclosures (i.e., required presentation of “gross” deferred tax assets and “gross” deferred tax liabilities). The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not affected by this ASU. There is no impact to our balance sheet as a result of this standard because Synovus has not historically distinguished deferred taxes on the balance sheet as current vs. non-current. |
Reclassifications | Prior periods' consolidated financial statements are reclassified whenever necessary to conform to the current periods' presentation. |
Acquisition (Tables)
Acquisition (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisition | Global One October 1, 2016 (in thousands) Fair Value Assets acquired: Cash and due from banks $ 9,554 Commercial and industrial loans (1) 357,307 Goodwill (2) 32,661 Other intangible assets 12,500 Other assets 3,904 Total assets acquired $ 415,926 Liabilities assumed: Notes payable (3) $ 358,560 Contingent consideration 12,234 Deferred tax liability, net 3,229 Other liabilities 11,903 Total liabilities assumed $ 385,926 Consideration paid $ 30,000 Cash paid $ 3,408 Fair value of common stock issued 26,592 (1) The unpaid principal balance of the loans was $356.7 million . (2) The goodwill is not expected to be deductible for tax purposes. (3) The unpaid principal balance of the notes payable was $357.0 million . |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Investments [Abstract] | |
Summary of Available-for-Sale Investment Securities | The amortized cost, gross unrealized gains and losses, and estimated fair values of investment securities available for sale at June 30, 2017 and December 31, 2016 are summarized below. June 30, 2017 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 83,493 — (360 ) 83,133 U.S. Government agency securities 12,088 223 — 12,311 Mortgage-backed securities issued by U.S. Government agencies 132,710 640 (1,125 ) 132,225 Mortgage-backed securities issued by U.S. Government sponsored enterprises 2,881,234 6,169 (30,998 ) 2,856,405 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 734,804 84 (12,468 ) 722,420 State and municipal securities 290 — — 290 Corporate debt and other securities 20,279 205 (210 ) 20,274 Total investment securities available for sale $ 3,864,898 7,321 (45,161 ) 3,827,058 December 31, 2016 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 108,221 225 (644 ) 107,802 U.S. Government agency securities 12,727 266 — 12,993 Mortgage-backed securities issued by U.S. Government agencies 174,440 1,116 (1,354 ) 174,202 Mortgage-backed securities issued by U.S. Government sponsored enterprises 2,543,495 5,416 (42,571 ) 2,506,340 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 905,789 1,214 (16,561 ) 890,442 State and municipal securities 2,780 14 — 2,794 Equity securities 919 2,863 — 3,782 Corporate debt and other securities 20,247 — (407 ) 19,840 Total investment securities available for sale $ 3,768,618 11,114 (61,537 ) 3,718,195 |
Schedule of Unrealized Loss on Investments | Gross unrealized losses on investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2017 and December 31, 2016 are presented below. June 30, 2017 Less than 12 Months 12 Months or Longer Total (in thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. Treasury securities $ 64,342 360 — — 64,342 360 Mortgage-backed securities issued by U.S. Government agencies 95,492 1,125 — — 95,492 1,125 Mortgage-backed securities issued by U.S. Government sponsored enterprises 2,161,449 30,998 — — 2,161,449 30,998 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 668,342 11,678 23,212 790 691,554 12,468 Corporate debt and other securities — — 5,069 210 5,069 210 Total $ 2,989,625 44,161 28,281 1,000 3,017,906 45,161 December 31, 2016 Less than 12 Months 12 Months or Longer Total (in thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. Treasury securities $ 64,023 644 — — 64,023 644 Mortgage-backed securities issued by U.S. Government agencies 128,121 1,240 3,626 114 131,747 1,354 Mortgage-backed securities issued by U.S. Government sponsored enterprises 2,123,181 42,571 — — 2,123,181 42,571 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 682,492 15,653 24,801 908 707,293 16,561 Corporate debt and other securities 14,952 48 4,888 359 19,840 407 Total $ 3,012,769 60,156 33,315 1,381 3,046,084 61,537 |
Amortized Cost and Estimated Fair Value by Contractual Maturity of Investment Securities Available-for-Sale | For purposes of the maturity table, mortgage-backed securities and CMOs, which are not due at a single maturity date, have been classified based on the final contractual maturity date. Distribution of Maturities at June 30, 2017 (in thousands) Within One Year 1 to 5 Years 5 to 10 Years More Than 10 Years No Stated Maturity Total Amortized Cost U.S. Treasury securities $ 18,791 64,702 — — — 83,493 U.S. Government agency securities 1,000 5,612 5,476 — — 12,088 Mortgage-backed securities issued by U.S. Government agencies — — 34,868 97,842 — 132,710 Mortgage-backed securities issued by U.S. Government sponsored enterprises 47 2,262 535,035 2,343,890 — 2,881,234 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — 22,173 712,631 — 734,804 State and municipal securities 110 180 — — — 290 Corporate debt and other securities — — 15,000 2,000 3,279 20,279 Total amortized cost $ 19,948 72,756 612,552 3,156,363 3,279 3,864,898 Fair Value U.S. Treasury securities $ 18,791 64,342 — — — 83,133 U.S. Government agency securities 1,004 5,682 5,625 — — 12,311 Mortgage-backed securities issued by U.S. Government agencies — — 35,007 97,218 — 132,225 Mortgage-backed securities issued by U.S. Government sponsored enterprises 48 2,390 529,968 2,323,999 — 2,856,405 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — 21,950 700,470 — 722,420 State and municipal securities 110 180 — — — 290 Corporate debt and other securities — — 15,205 1,927 3,142 20,274 Total fair value $ 19,953 72,594 607,755 3,123,614 3,142 3,827,058 |
Schedule of Activity for Available-for-Sale Securities | Proceeds from sales, gross gains, and gross losses on sales of securities available for sale for the three months ended June 30, 2017 and 2016 are presented below. The specific identification method is used to reclassify gains and losses out of other comprehensive income at the time of sale. Six Months Ended June 30, Three Months Ended June 30, (in thousands) 2017 2016 2017 2016 Proceeds from sales of investment securities available for sale $ 338,381 243,609 $ 55,752 — Gross realized gains on sales 7,942 954 239 — Gross realized losses on sales (275 ) (887 ) (240 ) — Investment securities gains, net $ 7,667 67 $ (1 ) — |
Restructuring Charges (Tables)
Restructuring Charges (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Restructuring Charges [Abstract] | |
Schedule of Restructuring and Related Costs | The following tables present aggregate activity within the accrual for restructuring charges for the six and three months ended June 30, 2017 and 2016 : (in thousands) Severance Charges Lease Termination Charges Total Balance at December 31, 2016 $ 81 3,968 4,049 Accruals for voluntary and involuntary termination benefits 6,453 — 6,453 Payments (2,803 ) (438 ) (3,241 ) Balance at June 30, 2017 $ 3,731 3,530 7,261 Balance at April 1, 2017 6,315 3,689 10,004 Payments (2,584 ) (159 ) (2,743 ) Balance at June 30, 2017 $ 3,731 3,530 7,261 (in thousands) Severance Charges Lease Termination Charges Total Balance at December 31, 2015 $ 1,930 4,687 6,617 Accruals for lease terminations — 31 31 Payments (1,337 ) (343 ) (1,680 ) Balance at June 30, 2016 $ 593 4,375 4,968 Balance at April 1, 2016 1,533 4,545 6,078 Accruals for lease terminations — (13 ) (13 ) Payments (940 ) (157 ) (1,097 ) Balance at June 30, 2016 $ 593 4,375 4,968 For the six and three months ended June 30, 2017 and 2016 , total restructuring charges consist of the following components: Six Months Ended June 30, Three Months Ended June 30, (in thousands) 2017 2016 2017 2016 Severance charges $ 6,453 — $ — — Lease termination charges — 31 — (13 ) Asset impairment charges — 6,866 — 5,821 Loss (gain) on sale of assets held for sale, net (4 ) 13 (4 ) 13 Other charges 75 71 17 20 Total restructuring charges, net $ 6,524 6,981 $ 13 5,841 |
Loans and Allowance for Loan 27
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Loans and Allowance for Loan Losses [Abstract] | |
Schedule of Current, Accruing Past Due, and Nonaccrual Loans | The following is a summary of current, accruing past due, and non-accrual loans by portfolio class as of June 30, 2017 and December 31, 2016 . Current, Accruing Past Due, and Non-accrual Loans June 30, 2017 (in thousands) Current Accruing 30-89 Days Past Due Accruing 90 Days or Greater Past Due Total Accruing Past Due Non-accrual Total Investment properties $ 6,028,397 3,482 72 3,554 3,712 6,035,663 1-4 family properties 818,327 8,657 101 8,758 8,535 835,620 Land and development 529,967 1,964 126 2,090 10,931 542,988 Total commercial real estate 7,376,691 14,103 299 14,402 23,178 7,414,271 Commercial, financial and agricultural 6,915,588 14,670 765 15,435 69,550 7,000,573 Owner-occupied 4,715,325 9,291 801 10,092 24,918 4,750,335 Total commercial and industrial 11,630,913 23,961 1,566 25,527 94,468 11,750,908 Home equity lines 1,533,528 8,286 705 8,991 20,648 1,563,167 Consumer mortgages 2,444,866 7,141 623 7,764 18,035 2,470,665 Credit cards 223,092 1,550 1,258 2,808 — 225,900 Other consumer loans 1,021,355 7,197 99 7,296 2,988 1,031,639 Total consumer 5,222,841 24,174 2,685 26,859 41,671 5,291,371 Total loans $ 24,230,445 62,238 4,550 66,788 159,317 24,456,550 (1 ) December 31, 2016 (in thousands) Current Accruing 30-89 Days Past Due Accruing 90 Days or Greater Past Due Total Accruing Past Due Non-accrual Total Investment properties $ 5,861,198 2,795 — 2,795 5,268 5,869,261 1-4 family properties 873,231 4,801 161 4,962 9,114 887,307 Land and development 591,732 1,441 — 1,441 16,233 609,406 Total commercial real estate 7,326,161 9,037 161 9,198 30,615 7,365,974 Commercial, financial and agricultural 6,846,591 9,542 720 10,262 59,074 6,915,927 Owner-occupied 4,601,356 17,913 244 18,157 16,503 4,636,016 Total commercial and industrial 11,447,947 27,455 964 28,419 75,577 11,551,943 Home equity lines 1,585,228 10,013 473 10,486 21,551 1,617,265 Consumer mortgages 2,265,966 7,876 81 7,957 22,681 2,296,604 Credit cards 229,177 1,819 1,417 3,236 — 232,413 Other consumer loans 809,419 5,771 39 5,810 2,954 818,183 Total consumer 4,889,790 25,479 2,010 27,489 47,186 4,964,465 Total loans $ 23,663,898 61,971 3,135 65,106 153,378 23,882,382 (2 ) (1) Total before net deferred fees and costs of $26.0 million . (2) Total before net deferred fees and costs of $26.0 million . |
Loan Portfolio Credit Exposure | In the following tables, consumer loans are generally assigned a risk grade similar to the classifications described above; however, upon reaching 90 days and 120 days past due, they are generally downgraded to Substandard and Loss, respectively, in accordance with the FFIEC Uniform Retail Credit Classification and Account Management Policy. Additionally, in accordance with the Interagency Supervisory Guidance on Allowance for Loan and Lease Losses Estimation Practices for Loans and Lines of Credit Secured by Junior Liens on 1-4 Family Residential Properties, the risk grade classifications of consumer loans (home equity lines and consumer mortgages) secured by junior liens on 1-4 family residential properties also consider available information on the payment status of any associated senior liens with other financial institutions. Loan Portfolio Credit Exposure by Risk Grade June 30, 2017 (in thousands) Pass Special Mention Substandard (1) Doubtful (2) Loss Total Investment properties $ 5,952,286 61,451 21,926 — — 6,035,663 1-4 family properties 788,665 24,169 22,559 227 — 835,620 Land and development 477,974 40,576 21,227 3,211 — 542,988 Total commercial real estate 7,218,925 126,196 65,712 3,438 — 7,414,271 Commercial, financial and agricultural 6,710,038 124,412 160,354 5,629 140 (3) 7,000,573 Owner-occupied 4,590,414 52,101 106,410 1,410 — 4,750,335 Total commercial and industrial 11,300,452 176,513 266,764 7,039 140 11,750,908 Home equity lines 1,535,583 — 24,812 373 2,399 (3) 1,563,167 Consumer mortgages 2,450,658 — 19,528 313 166 (3) 2,470,665 Credit cards 224,643 — 445 — 812 (4) 225,900 Other consumer loans 1,028,493 — 2,808 299 39 (3) 1,031,639 Total consumer 5,239,377 — 47,593 985 3,416 5,291,371 Total loans $ 23,758,754 302,709 380,069 11,462 3,556 24,456,550 (5 ) December 31, 2016 (in thousands) Pass Special Mention Substandard (1) Doubtful (2) Loss Total Investment properties $ 5,794,626 43,336 31,299 — — 5,869,261 1-4 family properties 826,311 33,928 26,790 278 — 887,307 Land and development 514,853 60,205 27,361 6,987 — 609,406 Total commercial real estate 7,135,790 137,469 85,450 7,265 — 7,365,974 Commercial, financial and agricultural 6,642,648 126,268 140,425 6,445 141 (3) 6,915,927 Owner-occupied 4,462,420 60,856 111,330 1,410 — 4,636,016 Total commercial and industrial 11,105,068 187,124 251,755 7,855 141 11,551,943 Home equity lines 1,589,199 — 22,774 2,892 2,400 (3) 1,617,265 Consumer mortgages 2,271,916 — 23,268 1,283 137 (3) 2,296,604 Credit cards 230,997 — 637 — 779 (4) 232,413 Other consumer loans 814,844 — 3,233 42 64 (3) 818,183 Total consumer 4,906,956 — 49,912 4,217 3,380 4,964,465 Total loans $ 23,147,814 324,593 387,117 19,337 3,521 23,882,382 (6 ) (1) Includes $235.8 million and $256.6 million of Substandard accruing loans at June 30, 2017 and December 31, 2016 , respectively. (2) The loans within this risk grade are on non-accrual status. Commercial loans generally have an allowance for loan losses in accordance with ASC 310, and retail loans generally have an allowance for loan losses equal to 50% of the loan amount. (3) The loans within this risk grade are on non-accrual status and have an allowance for loan losses equal to the full loan amount. (4) Represent amounts that were 120 days past due. These credits are downgraded to the Loss category with an allowance for loan losses equal to the full loan amount and are generally charged off upon reaching 181 days past due in accordance with the FFIEC Uniform Retail Credit Classification and Account Management Policy. (5) Total before net deferred fees and costs of $26.0 million . (6) Total before net deferred fees and costs of $26.0 million . |
Schedule of Allowances for Loan Losses and Recorded Investment in Loans | The following table details the changes in the allowance for loan losses by loan segment for the six and three months ended June 30, 2017 . Allowance for Loan Losses and Recorded Investment in Loans As of and For The Six Months Ended June 30, 2017 (in thousands) Commercial Real Estate Commercial & Industrial Retail Total Allowance for loan losses: Beginning balance $ 81,816 125,778 44,164 251,758 Charge-offs (3,207 ) (19,535 ) (9,656 ) (32,398 ) Recoveries 3,648 3,282 2,871 9,801 Provision for loan losses (4,730 ) 13,912 9,752 18,934 Ending balance (1) $ 77,527 123,437 47,131 248,095 Ending balance: individually evaluated for impairment 4,386 7,226 1,038 12,650 Ending balance: collectively evaluated for impairment $ 73,141 116,211 46,093 235,445 Loans: Ending balance: total loans (1)(2) $ 7,414,271 11,750,908 5,291,371 24,456,550 Ending balance: individually evaluated for impairment 73,638 122,889 31,688 228,215 Ending balance: collectively evaluated for impairment $ 7,340,633 11,628,019 5,259,683 24,228,335 As of and For The Six Months Ended June 30, 2016 (in thousands) Commercial Real Estate Commercial & Industrial Retail Total Allowance for loan losses: Beginning balance $ 87,133 122,989 42,374 252,496 Charge-offs (9,277 ) (10,661 ) (7,148 ) (27,086 ) Recoveries 6,690 4,342 2,564 13,596 Provision for loan losses (5,187 ) 12,963 8,294 16,070 Ending balance (1) $ 79,359 129,633 46,084 255,076 Ending balance: individually evaluated for impairment 12,515 14,221 1,691 28,427 Ending balance: collectively evaluated for impairment $ 66,844 115,412 44,393 226,649 Loans: Ending balance: total loans (1)(3) $ 7,507,695 10,955,430 4,625,410 23,088,535 Ending balance: individually evaluated for impairment 112,954 119,805 37,788 270,547 Ending balance: collectively evaluated for impairment $ 7,394,741 10,835,625 4,587,622 22,817,988 (1) As of and for the six months ended June 30, 2017 and 2016, there were no purchased credit-impaired loans and no allowance for loan losses for purchased credit-impaired loans. (2) Total before net deferred fees and costs of $26.0 million . (3) Total before net deferred fees and costs of $27.6 million . Allowance for Loan Losses and Recorded Investment in Loans As Of and For The Three Months Ended June 30, 2017 (in thousands) Commercial Real Estate Commercial & Industrial Consumer Total Allowance for loan losses: Beginning balance $ 78,314 127,096 48,104 253,514 Charge-offs (1,299 ) (12,642 ) (5,722 ) (19,663 ) Recoveries 759 1,458 1,767 3,984 Provision for loan losses (247 ) 7,525 2,982 10,260 Ending balance (1) $ 77,527 123,437 47,131 248,095 Ending balance: individually evaluated for impairment 4,386 7,226 1,038 12,650 Ending balance: collectively evaluated for impairment $ 73,141 116,211 46,093 235,445 Loans: Ending balance: total loans (1)(2) $ 7,414,271 11,750,908 5,291,371 24,456,550 Ending balance: individually evaluated for impairment 73,638 122,889 31,688 228,215 Ending balance: collectively evaluated for impairment $ 7,340,633 11,628,019 5,259,683 24,228,335 As Of and For The Three Months Ended June 30, 2016 (in thousands) Commercial Real Estate Commercial & Industrial Consumer Total Allowance for loan losses: Beginning balance $ 84,557 124,878 45,081 254,516 Charge-offs (7,455 ) (5,136 ) (3,180 ) (15,771 ) Recoveries 5,397 3,078 1,163 9,638 Provision for loan losses (3,140 ) 6,813 3,020 6,693 Ending balance (1) $ 79,359 129,633 46,084 255,076 Ending balance: individually evaluated for impairment 12,515 14,221 1,691 28,427 Ending balance: collectively evaluated for impairment $ 66,844 115,412 44,393 226,649 Loans: Ending balance: total loans (1)(3) $ 7,507,695 10,955,430 4,625,410 23,088,535 Ending balance: individually evaluated for impairment 112,954 119,805 37,788 270,547 Ending balance: collectively evaluated for impairment $ 7,394,741 10,835,625 4,587,622 22,817,988 (1) For the three months ended June 30, 2017 and 2016, there were no purchased credit-impaired loans and no allowance for loan losses for purchased credit-impaired loans. (2) Total before net deferred fees and costs of $26.0 million . (3) Total before net deferred fees and costs of $27.6 million . |
Schedule of Impaired Loans | The tables below summarize impaired loans (including accruing TDRs) as of June 30, 2017 and December 31, 2016 . Impaired Loans (including accruing TDRs) June 30, 2017 Six Months Ended June 30, 2017 Three Months Ended June 30, 2017 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded Investment properties $ — — — 246 — — — 1-4 family properties 253 2,582 — 380 — 257 — Land and development 2,226 5,539 — 2,193 — 2,246 — Total commercial real estate 2,479 8,121 — 2,819 — 2,503 — Commercial, financial and agricultural 26,913 33,098 — 22,956 — 26,202 — Owner-occupied 13,824 20,250 — 10,383 — 11,910 — Total commercial and industrial 40,737 53,348 — 33,339 — 38,112 — Home equity lines 1,064 1,064 — 1,060 — 1,064 — Consumer mortgages 744 941 — 744 — 744 — Credit cards — — — — — — — Other consumer loans — — — — — — — Total consumer 1,808 2,005 — 1,804 — 1,808 — Total impaired loans with no related allowance recorded $ 45,024 63,474 — 37,962 — 42,423 — With allowance recorded Investment properties $ 29,168 29,168 1,175 29,575 597 29,264 306 1-4 family properties 15,879 15,893 448 16,995 386 16,133 250 Land and development 26,112 26,168 2,763 27,381 299 26,366 126 Total commercial real estate 71,159 71,229 4,386 73,951 1,282 71,763 682 Commercial, financial and agricultural 46,569 46,887 5,524 46,455 787 48,959 436 Owner-occupied 35,583 35,594 1,702 42,814 674 38,318 336 Total commercial and industrial 82,152 82,481 7,226 89,269 1,461 87,277 772 Home equity lines 7,135 7,135 171 8,197 465 7,680 229 Consumer mortgages 18,762 18,762 598 19,720 183 19,009 92 Credit cards — — — — — — — Other consumer loans 3,983 3,984 269 4,692 132 4,380 59 Total consumer 29,880 29,881 1,038 32,609 780 31,069 380 Total impaired loans with allowance recorded $ 183,191 183,591 12,650 195,829 3,523 190,109 1,834 Total impaired loans Investment properties $ 29,168 29,168 1,175 29,821 597 29,264 306 1-4 family properties 16,132 18,475 448 17,375 386 16,390 250 Land and development 28,338 31,707 2,763 29,574 299 28,612 126 Total commercial real estate 73,638 79,350 4,386 76,770 1,282 74,266 682 Commercial, financial and agricultural 73,482 79,985 5,524 69,411 787 75,161 436 Owner-occupied 49,407 55,844 1,702 53,197 674 50,228 336 Total commercial and industrial 122,889 135,829 7,226 122,608 1,461 125,389 772 Home equity lines 8,199 8,199 171 9,257 465 8,744 229 Consumer mortgages 19,506 19,703 598 20,464 183 19,753 92 Credit cards — — — — — — — Other consumer loans 3,983 3,984 269 4,692 132 4,380 59 Total consumer 31,688 31,886 1,038 34,413 780 32,877 380 Total impaired loans $ 228,215 247,065 12,650 233,791 3,523 232,532 1,834 Impaired Loans (including accruing TDRs) December 31, 2016 Year Ended December 31, 2016 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded Investment properties $ 748 793 — 2,013 — 1-4 family properties 643 2,939 — 1,021 — Land and development 2,099 7,243 — 6,769 — Total commercial real estate 3,490 10,975 — 9,803 — Commercial, financial and agricultural 17,958 20,577 — 6,321 — Owner-occupied 5,508 7,377 — 8,394 — Total commercial and industrial 23,466 27,954 — 14,715 — Home equity lines 1,051 1,051 — 1,045 — Consumer mortgages 744 814 — 870 — Credit cards — — — — — Other consumer loans — — — — — Total consumer 1,795 1,865 — 1,915 — Total impaired loans with no related allowance recorded $ 28,751 40,794 — 26,433 — With allowance recorded Investment properties $ 31,489 31,489 2,044 42,659 1,436 1-4 family properties 23,642 23,649 769 39,864 855 Land and development 32,789 32,788 5,103 25,568 995 Total commercial real estate 87,920 87,926 7,916 108,091 3,286 Commercial, financial and agricultural 43,386 45,913 5,687 51,968 1,215 Owner-occupied 53,708 53,942 2,697 52,300 1,946 Total commercial and industrial 97,094 99,855 8,384 104,268 3,161 Home equity lines 9,638 9,638 971 9,668 432 Consumer mortgages 20,953 20,953 673 20,993 1,014 Credit cards — — — — — Other consumer loans 5,140 5,140 167 5,062 303 Total consumer 35,731 35,731 1,811 35,723 1,749 Total impaired loans with allowance recorded $ 220,745 223,512 18,111 248,082 8,196 Total impaired loans Investment properties $ 32,237 32,282 2,044 44,672 1,436 1-4 family properties 24,285 26,588 769 40,885 855 Land and development 34,888 40,031 5,103 32,337 995 Total commercial real estate 91,410 98,901 7,916 117,894 3,286 Commercial, financial and agricultural 61,344 66,490 5,687 58,289 1,215 Owner-occupied 59,216 61,319 2,697 60,694 1,946 Total commercial and industrial 120,560 127,809 8,384 118,983 3,161 Home equity lines 10,689 10,689 971 10,713 432 Consumer mortgages 21,697 21,767 673 21,863 1,014 Credit cards — — — — — Other consumer loans 5,140 5,140 167 5,062 303 Total consumer 37,526 37,596 1,811 37,638 1,749 Total impaired loans $ 249,496 264,306 18,111 274,515 8,196 |
Troubled Debt Restructurings | The following tables represent, by concession type, the post-modification balance for loans modified or renewed during the six and three months ended June 30, 2017 and 2016 that were reported as accruing or non-accruing TDRs. TDRs by Concession Type Six Months Ended June 30, 2017 (in thousands, except contract data) Number of Contracts Principal Forgiveness Below Market Interest Rate Term Extensions and/or Other Concessions Total Investment properties — $ — — — — 1-4 family properties 16 — 2,089 513 2,602 Land acquisition 1 — — 135 135 Total commercial real estate 17 — 2,089 648 2,737 Commercial, financial and agricultural 28 — 5,760 6,279 12,039 Owner-occupied 1 — — 22 22 Total commercial and industrial 29 — 5,760 6,301 12,061 Home equity lines — — — — — Consumer mortgages 1 — — 9 9 Credit cards — — — — — Other retail loans 8 — — 570 570 Total retail 9 — — 579 579 Total TDRs 55 $ — 7,849 7,528 15,377 (1 ) Three Months Ended June 30, 2017 (in thousands, except contract data) Number of Contracts Principal Forgiveness Below Market Interest Rate Term Extensions and/or Other Concessions Total Investment properties — $ — — — — 1-4 family properties 8 — 478 196 674 Land and development 1 — — 135 135 Total commercial real estate 9 — 478 331 809 Commercial, financial and agricultural 10 — 1,895 740 2,635 Owner-occupied 1 — — 22 22 Total commercial and industrial 11 — 1,895 762 2,657 Home equity lines — — — — — Consumer mortgages 1 — — 9 9 Credit cards — — — — — Other consumer loans 5 — — 295 295 Total consumer 6 — — 304 304 Total TDRs 26 $ — 2,373 1,397 3,770 (1 ) (1) No net charge-offs were recorded during the six and three months ended June 30, 2017 upon restructuring of these loans. TDRs by Concession Type Six Months Ended June 30, 2016 (in thousands, except contract data) Number of Contracts Principal Forgiveness Below Market Interest Rate Term Extensions and/or Other Concessions Total Investment properties 3 $ — 1,826 148 1,974 1-4 family properties 19 — 3,490 1,164 4,654 Land acquisition 11 — — 1,269 1,269 Total commercial real estate 33 — 5,316 2,581 7,897 Commercial, financial and agricultural 45 — 13,948 4,845 18,793 Owner-occupied 6 — 2,667 550 3,217 Total commercial and industrial 51 — 16,615 5,395 22,010 Home equity lines 3 — 224 — 224 Consumer mortgages 6 — 354 51 405 Credit cards — — — — — Other retail loans 17 — 324 1,534 1,858 Total retail 26 — 902 1,585 2,487 Total TDRs 110 $ — 22,833 9,561 32,394 (2 ) Three Months Ended June 30, 2016 (in thousands, except contract data) Number of Contracts Principal Forgiveness Below Market Interest Rate Term Extensions and/or Other Concessions Total Investment properties 1 $ — 1,389 — 1,389 1-4 family properties 12 — 3,095 324 3,419 Land and development 5 — — 734 734 Total commercial real estate 18 — 4,484 1,058 5,542 Commercial, financial and agricultural 15 — 1,934 1,458 3,392 Owner-occupied 2 — 1,132 102 1,234 Total commercial and industrial 17 — 3,066 1,560 4,626 Home equity lines 1 — 28 — 28 Consumer mortgages 3 — 200 51 251 Credit cards — — — — — Other consumer loans 10 — 94 1,449 1,543 Total consumer 14 — 322 1,500 1,822 Total TDRs 49 $ — 7,872 4,118 11,990 (2 ) (2) No net charge-offs were recorded during the six and three months ended June 30, 2016 upon restructuring of these loans. |
Other Comprehensive Income (L28
Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component (Net of Income Taxes) | The following tables illustrate activity within the balances in accumulated other comprehensive income (loss) by component for the six and three months ended June 30, 2017 and 2016 . Changes in Accumulated Other Comprehensive Income (Loss) by Component (Net of Income Taxes) (in thousands) Net unrealized gains (losses) on cash flow hedges Net unrealized gains (losses) on investment securities available for sale Post-retirement unfunded health benefit Total Balance at December 31, 2016 $ (12,217 ) (44,324 ) 882 (55,659 ) Other comprehensive income before reclassifications — 12,453 — 12,453 Amounts reclassified from accumulated other comprehensive income (loss) 80 (4,715 ) (24 ) (4,659 ) Net current period other comprehensive income 80 7,738 (24 ) 7,794 Balance as of June 30, 2017 $ (12,137 ) (36,586 ) 858 (47,865 ) Balance as of April 1, 2017 $ (12,177 ) (43,444 ) 870 (54,751 ) Other comprehensive income before reclassifications — 6,857 — 6,857 Amounts reclassified from accumulated other comprehensive income (loss) 40 1 (12 ) 29 Net current period other comprehensive income 40 6,858 (12 ) 6,886 Balance as of June 30, 2017 $ (12,137 ) (36,586 ) 858 (47,865 ) Changes in Accumulated Other Comprehensive Income (Loss) by Component (Net of Income Taxes) (in thousands) Net unrealized gains (losses) on cash flow hedges Net unrealized gains (losses) on investment securities available for sale Post-retirement unfunded health benefit Total Balance at December 31, 2015 $ (12,504 ) (18,222 ) 907 (29,819 ) Other comprehensive income before reclassifications — 40,722 — 40,722 Amounts reclassified from accumulated other comprehensive income (loss) 207 (41 ) (64 ) 102 Net current period other comprehensive income 207 40,681 (64 ) 40,824 Balance as of June 30, 2016 $ (12,297 ) 22,459 843 11,005 Balance as of April 1, 2016 $ (12,336 ) 10,747 849 (740 ) Other comprehensive income (loss) before reclassifications — 11,712 — 11,712 Amounts reclassified from accumulated other comprehensive income (loss) 39 — (6 ) 33 Net current period other comprehensive income (loss) 39 11,712 (6 ) 11,745 Balance as of June 30, 2016 $ (12,297 ) 22,459 843 11,005 |
Schedule of Reclassifications out of Accumulated Other Comprehensive Income (Loss) | Reclassifications out of Accumulated Other Comprehensive Income (Loss) Details About Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statement Where Net Income is Presented For the Six Months Ended June 30, 2017 2016 Net unrealized gains (losses) on cash flow hedges: Amortization of deferred losses $ (130 ) (140 ) Interest expense Amortization of deferred losses — (197 ) Loss on early extinguishment of debt, net 50 130 Income tax (expense) benefit $ (80 ) (207 ) Reclassifications, net of income taxes Net unrealized gains on investment securities available for sale: Realized gain on sale of securities $ 7,667 67 Investment securities gains, net (2,952 ) (26 ) Income tax (expense) benefit $ 4,715 41 Reclassifications, net of income taxes Post-retirement unfunded health benefit: Amortization of actuarial gains $ 40 104 Salaries and other personnel expense (16 ) (40 ) Income tax (expense) benefit $ 24 64 Reclassifications, net of income taxes Reclassifications out of Accumulated Other Comprehensive Income (Loss) Details About Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statement Where Net Income is Presented For the Three Months Ended June 30, 2017 2016 Net unrealized gains (losses) on cash flow hedges: Amortization of deferred losses $ (65 ) (64 ) Interest expense 25 25 Income tax (expense) benefit $ (40 ) (39 ) Reclassifications, net of income taxes Net unrealized gains on investment securities available for sale: Realized net (loss)gain on sale of securities $ (1 ) — Investment securities gains, net — — Income tax (expense) benefit $ (1 ) — Reclassifications, net of income taxes Post-retirement unfunded health benefit: Amortization of actuarial gains $ 20 10 Salaries and other personnel expense (8 ) (4 ) Income tax (expense) benefit $ 12 6 Reclassifications, net of income taxes |
Fair Value Accounting (Tables)
Fair Value Accounting (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments Measured at Fair Value on Recurring Basis | The following table presents all financial instruments measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016 , according to the valuation hierarchy included in ASC 820-10. For equity and debt securities, class was determined based on the nature and risks of the investments. Transfers between levels during the six and three months ended June 30, 2017 and year ended December 31, 2016 were inconsequential. June 30, 2017 (in thousands) Level 1 Level 2 Level 3 Total Assets and Liabilities at Fair Value Assets Trading securities: U.S. Government agency securities — 1,587 — 1,587 Collateralized mortgage obligations issued by U.S. Government sponsored enterprises — 386 — 386 State and municipal securities — 1,072 — 1,072 Total trading securities $ — 3,045 — 3,045 Mortgage loans held for sale — 61,893 — 61,893 Investment securities available for sale: U.S. Treasury securities 83,133 — — 83,133 U.S. Government agency securities — 12,311 — 12,311 Mortgage-backed securities issued by U.S. Government agencies — 132,225 — 132,225 Mortgage-backed securities issued by U.S. Government sponsored enterprises — 2,856,405 — 2,856,405 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — 722,420 — 722,420 State and municipal securities — 290 — 290 Corporate debt and other securities (1) 3,142 15,205 1,927 20,274 Total investment securities available for sale $ 86,275 3,738,856 1,927 3,827,058 Private equity investments — 15,698 15,698 Mutual funds held in rabbi trusts 12,867 — — 12,867 GGL/SBA loans servicing asset — — 4,297 4,297 Derivative assets: Interest rate contracts — 15,332 — 15,332 Mortgage derivatives (2) — 1,393 — 1,393 Total derivative assets $ — 16,725 — 16,725 Liabilities Earnout liability (3) — — 13,941 13,941 Derivative liabilities: Interest rate contracts — 13,389 — 13,389 Visa derivative — — 5,053 5,053 Total derivative liabilities $ — 13,389 5,053 18,442 December 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Assets and Liabilities at Fair Value Assets Trading securities: Mortgage-backed securities issued by U.S. Government agencies — 3,460 — 3,460 Collateralized mortgage obligations issued by U.S. Government sponsored enterprises — 3,438 — 3,438 State and municipal securities — 426 — 426 Other investments 1,890 100 — 1,990 Total trading securities $ 1,890 7,424 — 9,314 Mortgage loans held for sale — 51,545 — 51,545 Investment securities available for sale: U.S. Treasury securities 107,802 — — 107,802 U.S. Government agency securities — 12,993 — 12,993 Mortgage-backed securities issued by U.S. Government agencies — 174,202 — 174,202 Mortgage-backed securities issued by U.S. Government sponsored enterprises — 2,506,340 — 2,506,340 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — 890,442 — 890,442 State and municipal securities — 2,794 — 2,794 Equity securities 3,782 — — 3,782 Corporate debt and other securities (1) 3,092 14,952 1,796 19,840 Total investment securities available for sale $ 114,676 3,601,723 1,796 3,718,195 Private equity investments — — 25,493 25,493 Mutual funds held in rabbi trusts 11,479 — — 11,479 Derivative assets: Interest rate contracts — 17,157 — 17,157 Mortgage derivatives (2) — 3,466 — 3,466 Total derivative assets $ — 20,623 — 20,623 Liabilities Earnout liability (3) — — 14,000 14,000 Derivative liabilities: Interest rate contracts — 17,531 — 17,531 Visa derivative — — 5,768 5,768 Total derivative liabilities $ — 17,531 5,768 23,299 (1) Based on an analysis of the nature and risks of these investments, Synovus has determined that presenting these investments as a single asset class is appropriate. (2) Mortgage derivatives consist of customer interest rate lock commitments that relate to the potential origination of mortgage loans, which would be classified as held for sale and forward loan sales commitments with third-party investors. (3) Earnout liability consists of contingent consideration obligation related to the Global One acquisition. |
Changes in Fair Value Included in Consolidated Statements of Income | The following table summarizes the difference between the fair value and the unpaid principal balance of mortgage loans held for sale measured at fair value and the changes in fair value of these loans. Mortgage loans held for sale are initially measured at fair value with subsequent changes in fair value recognized in earnings. Changes in fair value are recorded as a component of mortgage banking income in the Consolidated Statements of Income. An immaterial portion of these changes in fair value was attributable to changes in instrument-specific credit risk. Changes in Fair Value Included in Net Income For the Six Months Ended June 30, For the Three Months Ended June 30, (in thousands) 2017 2016 2017 2016 Mortgage loans held for sale $ 954 1,850 $ (249 ) 878 Mortgage Loans Held for Sale (in thousands) As of June 30, 2017 As of December 31, 2016 Fair value $ 61,893 51,545 Unpaid principal balance 60,508 51,114 Fair value less aggregate unpaid principal balance $ 1,385 431 |
Changes in Level 3 Fair Value Measurements | The table below includes a roll-forward of the amounts on the Consolidated Balance Sheets for the six and three months ended June 30, 2017 and 2016 (including the change in fair value), for financial instruments of a material nature that are classified by Synovus within Level 3 of the fair value hierarchy and are measured at fair value on a recurring basis. Transfers between fair value levels are recognized at the end of the reporting period in which the associated changes in inputs occur. During the six and three months ended June 30, 2017 and 2016 , Synovus did not have any transfers between levels in the fair value hierarchy. Six Months Ended June 30, 2017 (in thousands) Investment Securities Available for Sale Private Equity Investments Visa Derivative Earnout Liability (1) GGL / SBA Loans Servicing Asset (2) Beginning balance, January 1, $ 1,796 25,493 (5,768 ) (14,000 ) — Total gains (losses) realized/unrealized: Included in earnings — (3,166 ) — (1,707 ) (694 ) Unrealized gains (losses) included in other comprehensive income 131 — — — — Additions — — — — 539 Sales and settlements — (6,629 ) 715 — — Transfer from amortization method to fair value — — — — 4,452 Measurement period adjustments related to Global One acquisition — — — 1,766 — Ending balance, June 30, $ 1,927 15,698 (5,053 ) (13,941 ) 4,297 Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at June 30, $ — (3,166 ) — (1,707 ) (694 ) Three Months Ended June 30, 2017 (in thousands) Investment Securities Available for Sale Private Equity Investments Visa Derivative Earnout Liability (1) GGL / SBA Loans Servicing Asset (2) Beginning balance, April 1, $ 1,851 23,679 (5,412 ) (11,421 ) 4,178 Total gains (losses) realized/unrealized: Included in earnings — (1,352 ) — (1,707 ) (376 ) Unrealized gains (losses) included in other comprehensive income 76 — — — — Additions — — — — 495 Sales and settlements — (6,629 ) 359 — — Measurement period adjustments related to Global One acquisition — — — (813 ) — Ending balance, June 30, $ 1,927 15,698 (5,053 ) (13,941 ) 4,297 Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at June 30, $ — (1,352 ) — (1,707 ) (376 ) (1) Earnout liability consists of contingent consideration obligation related to the Global One acquisition. (2) Effective January 1, 2017, Synovus elected the fair value option for determining the value of the GGL/SBA loans servicing asset. Synovus has retained servicing responsibilities on sold GGL/SBA loans and receives a servicing fee. The servicing asset is established at fair value at the time of the sale based on an analysis of future cash flows that incorporates estimates for discount rates, prepayment speeds, and delinquency rates. The servicing asset is measured at fair value on a quarterly basis with changes in fair value included with the associated servicing fee in other non-interest income. Prior to 2017, Synovus accounted for the GGL/SBA loans servicing asset using the amortization method. Six Months Ended June 30, 2016 (in thousands) Investment Securities Available for Sale Private Equity Investments Visa Derivative Beginning balance, January 1, $ 1,745 27,148 (1,415 ) Total gains (losses) realized/unrealized: Included in earnings — (278 ) (720 ) Unrealized gains (losses) included in other comprehensive income (120 ) — — Settlements — (4 ) 720 Ending balance, June 30, $ 1,625 26,866 (1,415 ) Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at June 30, $ — (278 ) (720 ) Three Months Ended June 30, 2016 (in thousands) Investment Securities Available for Sale Private Equity Investments Visa Derivative Beginning balance, April 1, $ 1,638 26,757 (1,415 ) Total gains (losses) realized/unrealized: Included in earnings — 113 (360 ) Unrealized gains (losses) included in other comprehensive income (13 ) — — Settlements — (4 ) 360 Ending balance, June 30, $ 1,625 26,866 (1,415 ) Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at June 30, $ — 113 (360 ) |
Assets and Liabilities Measured at Fair Value on Non-Recurring Basis | The following table presents assets measured at fair value on a non-recurring basis as of the dates indicated for which there was a fair value adjustment during the period. June 30, 2017 December 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Impaired loans * $ — — 11,773 11,773 — — 21,742 21,742 Other real estate — — 12,367 12,367 — — 19,305 19,305 Other assets held for sale — — — — — — 12,083 12,083 * Collateral-dependent impaired loans that were written down to fair value during the period. |
Assets Measured at Fair Value on a Nonrecurring Basis | The following table presents fair value adjustments recognized in earnings for the three months ended June 30, 2017 and 2016 for the assets measured at fair value on a non-recurring basis. Six Months Ended June 30, Three Months Ended June 30, (in thousands) 2017 2016 2017 2016 Impaired loans * $ 5,808 1,162 $ 5,776 — Other loans held for sale 3,519 — — — Other real estate 518 3,306 280 2,053 Other assets held for sale 238 6,625 — 5,593 * Collateral-dependent impaired loans that were written down to fair value during the period. |
Fair Value Inputs, Assets, Quantitative Information | The table below provides an overview of the valuation techniques and significant unobservable inputs used in those techniques to measure financial instruments that are classified within Level 3 of the valuation hierarchy and are measured at fair value on a non-recurring basis. The range of sensitivities that management utilized in its fair value calculations is deemed acceptable in the industry with respect to the identified financial instruments. June 30, 2017 December 31, 2016 Valuation Technique Significant Unobservable Input Range (Weighted Average) (1) Range (Weighted Average) (1) Assets measured at fair value on a non-recurring basis Collateral dependent impaired loans Third-party appraised value of collateral less estimated selling costs Discount to appraised value (2) Estimated selling costs 0% - 60% (46%) 0% - 10% (7%) 0%-52% (25%) 0%-10% (7%) Other loans held for sale Third-party appraised value of collateral less estimated selling costs Discount to appraised value (2) Estimated selling costs N/A N/A Other real estate Third-party appraised value of real estate less estimated selling costs Discount to appraised value (2) Estimated selling costs 0% - 35% (8%) 0% - 10% (7%) 0%-10% (5%) 0%-10% (7%) Other assets held for sale Third-party appraised value less estimated selling costs or BOV Discount to appraised value (2) Estimated selling costs N/A 0%-81% (47%) 0%-10% (7%) (1) The range represents management's estimate of the high and low of the value that would be assigned to a particular input. For assets measured at fair value on a non-recurring basis, the weighted average is the measure of central tendencies; it is not the value that management is using for the asset or liability. (2) Synovus also makes adjustments to the values of the assets listed above for reasons including age of the appraisal, information known by management about the property, such as occupancy rates, changes to the physical condition of the property, and other factors. The table below provides an overview of the valuation techniques and significant unobservable inputs used in those techniques to measure financial instruments that are classified within Level 3 of the valuation hierarchy and are measured at fair value on a recurring basis. June 30, 2017 December 31, 2016 Valuation Technique Significant Unobservable Input Range/Weighted Average Range/Weighted Average Assets and liabilities measured at fair value on a recurring basis Investment Securities Available for Sale - Other Investments: Trust preferred securities Discounted cash flow analysis Credit spread embedded in discount rate 392 bps 442 bps Private equity investments Individual analysis of each investee company Multiple factors, including but not limited to, current operations, financial condition, cash flows, evaluation of business management and financial plans, and recently executed financing transactions related to the investee companies N/A N/A Discount for lack of liquidity (1) N/A 15% GGL/SBA loans servicing asset Discounted cash flow analysis Discount rate Prepayment speeds 12.01% 6.75% N/A Earnout liability Option pricing methods and Monte Carlo simulation Global One Earnout, as defined in merger agreement, for the five years ending October 1, 2021 $11.8 million - $16.7 million $9.3 million - $14.2 million Visa derivative liability Discounted cash flow analysis Estimated timing of resolution of covered litigation, future cumulative deposits to the litigation escrow for settlement of the covered litigation, and estimated future monthly fees payable to the derivative counterparty 1-5 years 1-5 years (1) Represents management's estimate of discount that market participants would require based on the instrument's lack of liquidity. |
Carrying and Estimated Fair Values of Financial Instruments Carried on Balance Sheet | The carrying and estimated fair values of financial instruments, as well as the level within the fair value hierarchy, as of June 30, 2017 and December 31, 2016 are as follows: June 30, 2017 (in thousands) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 377,213 377,213 377,213 — — Interest bearing funds with Federal Reserve Bank 468,148 468,148 468,148 — — Interest earning deposits with banks 6,012 6,012 6,012 — — Federal funds sold and securities purchased under resale agreements 46,847 46,847 46,847 — — Trading account assets 3,045 3,045 — 3,045 — Mortgage loans held for sale 61,893 61,893 — 61,893 — Other loans held for sale 127 127 — 127 — Investment securities available for sale 3,827,058 3,827,058 86,275 3,738,856 1,927 Private equity investments 15,698 15,698 — — 15,698 Mutual funds held in rabbi trusts 12,867 12,867 12,867 — — Loans, net of deferred fees and costs 24,430,512 24,191,120 — — 24,191,120 GGL/SBA loans servicing asset 4,297 4,297 — — 4,297 Derivative assets 16,725 16,725 — 16,725 — Financial liabilities Non-interest bearing deposits 7,363,476 7,363,476 — 7,363,476 — Interest bearing deposits 17,855,340 17,852,694 — 17,852,694 — Federal funds purchased, other short-term borrowings and other short-term liabilities 150,379 150,379 150,379 — — Long-term debt 2,107,245 2,155,543 — 2,155,543 — Other liabilities 13,941 13,941 — — 13,941 Derivative liabilities 18,442 18,442 — 13,389 5,053 December 31, 2016 (in thousands) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 395,175 395,175 395,175 — — Interest bearing funds with Federal Reserve Bank 527,090 527,090 527,090 — — Interest earning deposits with banks 18,720 18,720 18,720 — — Federal funds sold and securities purchased under resale agreements 58,060 58,060 58,060 — — Trading account assets 9,314 9,314 1,890 7,424 — Mortgage loans held for sale 51,545 51,545 — 51,545 — Investment securities available for sale 3,718,195 3,718,195 114,676 3,601,723 1,796 Private equity investments 25,493 25,493 — — 25,493 Mutual funds held in rabbi trusts 11,479 11,479 11,479 — — Loans, net of deferred fees and costs 23,856,391 23,709,434 — — 23,709,434 Derivative assets 20,623 20,623 — 20,623 — Financial liabilities Non-interest bearing deposits 7,085,804 7,085,804 — 7,085,804 — Interest bearing deposits 17,562,256 17,560,021 — 17,560,021 — Federal funds purchased, other short-term borrowings and other short-term liabilities 159,699 159,699 159,699 — — Long-term debt 2,160,881 2,217,544 — 2,217,544 — Other liabilities 14,000 14,000 — — 14,000 Derivative liabilities 23,299 23,299 — 17,531 5,768 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Summary of Derivative Instruments [Abstract] | |
Impact of Derivatives on Balance Sheet | The impact of derivative instruments on the Consolidated Balance Sheets at June 30, 2017 and December 31, 2016 is presented below. Fair Value of Derivative Assets Fair Value of Derivative Liabilities (in thousands) Location on Consolidated Balance Sheets June 30, 2017 December 31, 2016 Location on Consolidated Balance Sheets June 30, 2017 December 31, 2016 Derivatives not designated as hedging instruments: Interest rate contracts Other assets $ 15,332 17,157 Other liabilities 13,389 17,531 Mortgage derivatives Other assets 1,393 3,466 Other liabilities — — Visa derivative — — Other liabilities 5,053 5,768 Total derivatives not designated as hedging instruments $ 16,725 20,623 18,442 23,299 |
Effect of Fair Value Hedges on Consolidated Statements of Income | The pre-tax effect of fair value hedges on the Consolidated Statements of Income for the six and three months ended June 30, 2017 and 2016 is presented below. Location of Gain (Loss) Recognized in Income Gain (Loss) Recognized in Income (in thousands) Six Months Ended June 30, Derivatives not designated as hedging instruments 2017 2016 Interest rate contracts (1) Other non-interest income $ (1 ) 33 Mortgage derivatives (2) Mortgage banking income (2,073 ) (485 ) Total $ (2,074 ) (452 ) Gain (Loss) Recognized in Income (in thousands) Three Months Ended June 30, Derivatives not designated as hedging instruments Location of Gain (Loss) Recognized in Income 2017 2016 Interest rate contracts (1) Other non-interest income $ — 27 Mortgage derivatives (2) Mortgage banking income (289 ) (335 ) Total $ (289 ) (308 ) (1) Gain (loss) represents net fair value adjustments (including credit related adjustments) for customer swaps and offsetting positions. (2) Gain (loss) represents net fair value adjustments recorded for interest rate lock commitments and commitments to sell mortgage loans to third-party investors. |
Net Income Per Common Share (Ta
Net Income Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Basic And Diluted Earnings per Share | The following table displays a reconciliation of the information used in calculating basic and diluted earnings per common share for the six and three months ended June 30, 2017 and 2016 . Six Months Ended June 30, Three Months Ended June 30, (in thousands, except per share data) 2017 2016 2017 2016 Basic Net Income Per Common Share: Net income available to common shareholders $ 142,742 107,870 $ 73,444 57,898 Weighted average common shares outstanding 122,251 126,164 122,203 125,100 Net income per common share, basic $ 1.17 0.85 $ 0.60 0.46 Diluted Net Income Per Common Share: Net income available to common shareholders $ 142,742 107,870 $ 73,444 57,898 Weighted average common shares outstanding 122,251 126,164 122,203 125,100 Potentially dilutive shares from outstanding equity-based awards 792 614 824 599 Weighted average diluted common shares 123,043 126,778 123,027 125,699 Net income per common share, diluted $ 1.16 0.85 $ 0.60 0.46 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Loan Commitments and Letters of Credit | Unfunded lending commitments and letters of credit at June 30, 2017 and December 31, 2016 are presented below. (in thousands) June 30, 2017 December 31, 2016 Letters of credit* $ 155,542 150,948 Commitments to fund commercial real estate, construction, and land development loans 1,427,947 1,394,162 Unused credit card lines 1,152,324 1,103,431 Commitments under home equity lines of credit 1,126,766 1,096,052 Commitments to fund commercial and industrial loans 5,039,168 4,792,834 Other loan commitments 308,386 307,772 Total unfunded lending commitments and letters of credit $ 9,210,133 8,845,199 * Represent the contractual amount net of risk participations of approximately $61 million and $83 million at June 30, 2017 and December 31, 2016, respectively. |
Significant Accounting Polici33
Significant Accounting Policies (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2017USD ($)branchesATM | Jun. 30, 2017USD ($)branchesATM | Dec. 31, 2016USD ($) | |
Basis Of Presentation [Line Items] | |||
Number of branches | branches | 248 | 248 | |
Number of ATMs | ATM | 327 | 327 | |
Share-based compensation, excess tax benefit | $ 378 | $ 4,500 | |
Cash and Cash Equivalents | |||
Basis Of Presentation [Line Items] | |||
Total deposits | 0 | 0 | $ 533 |
Cash and cash equivalents | 120,500 | 120,500 | 130,000 |
Interest earning deposits with banks | 5,900 | 5,900 | 5,600 |
Federal funds sold | $ 43,300 | $ 43,300 | $ 56,100 |
Acquisition (Narrative) (Detail
Acquisition (Narrative) (Details) - USD ($) $ in Thousands | Oct. 01, 2016 | Jun. 30, 2017 | Dec. 31, 2016 |
Business Acquisition [Line Items] | |||
Common stock, shares issued (in shares) | 142,498,906 | 142,025,720 | |
Common stock | $ 142,499 | $ 142,026 | |
Existing Borrower Relationships | |||
Business Acquisition [Line Items] | |||
Useful life | 11 years | ||
Other intangible assets | $ 10,100 | ||
Trade Names | |||
Business Acquisition [Line Items] | |||
Useful life | 10 years | ||
Other intangible assets | $ 1,000 | ||
Distribution Network | |||
Business Acquisition [Line Items] | |||
Useful life | 8 years | ||
Other intangible assets | $ 544 | ||
Global One | |||
Business Acquisition [Line Items] | |||
Consideration transferred | $ 30,000 | ||
Common stock, shares issued (in shares) | 821,000 | ||
Common stock | $ 26,592 | ||
Cash paid | $ 3,408 | ||
Adjustment in goodwill | 2,600 | ||
Adjustment in contingent consideration | $ 1,800 | ||
Global One | Minimum | |||
Business Acquisition [Line Items] | |||
Potential additional payments based on earnings, period | 3 years | ||
Global One | Maximum | |||
Business Acquisition [Line Items] | |||
Potential additional payments based on earnings, period | 5 years |
Acquisition (Assets Acquired an
Acquisition (Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands | Oct. 01, 2016 | Jun. 30, 2017 | Dec. 31, 2016 |
Assets acquired: | |||
Goodwill | $ 57,092 | $ 59,678 | |
Liabilities assumed: | |||
Fair value of common stock issued | 142,499 | 142,026 | |
Long-term debt | $ 2,107,245 | $ 2,160,881 | |
Global One | |||
Assets acquired: | |||
Cash and due from banks | $ 9,554 | ||
Commercial and industrial loans | 357,307 | ||
Goodwill | 32,661 | ||
Other intangible assets | 12,500 | ||
Other assets | 3,904 | ||
Total assets acquired | 415,926 | ||
Liabilities assumed: | |||
Notes payable | 358,560 | ||
Contingent consideration | 12,234 | ||
Deferred tax liability, net | 3,229 | ||
Other liabilities | 11,903 | ||
Total liabilities assumed | 385,926 | ||
Consideration paid | 30,000 | ||
Cash paid | 3,408 | ||
Fair value of common stock issued | 26,592 | ||
Loans, unpaid principal balance | 356,700 | ||
Long-term debt | $ 357,000 |
Share Repurchase Program (Detai
Share Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Millions | 5 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2017 | Jun. 30, 2016 | Jan. 17, 2017 | |
Equity [Abstract] | ||||
Authorized amount | $ 200,000,000 | |||
Value repurchased | $ 45,300,000 | $ 45,349,000 | $ 171,547,000 | |
Shares repurchased (in shares) | 1.1 | |||
Shares repurchased, average cost per share (in dollars per share) | $ 42.04 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) $ in Millions | Jun. 30, 2017USD ($)securities | Dec. 31, 2016USD ($) |
Investments [Abstract] | ||
Pledged to secure deposits | $ | $ 1,730 | $ 2,040 |
Investment securities in a loss position for less than twelve months | 92 | |
Investment securities in a loss position for twelve months or longer | 3 |
Investment Securities (Summary
Investment Securities (Summary Of Available For Sale Investment Securities) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 3,864,898 | $ 3,768,618 |
Gross Unrealized Gains | 7,321 | 11,114 |
Gross Unrealized Losses | (45,161) | (61,537) |
Fair Value | 3,827,058 | 3,718,195 |
U.S. Treasury securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 83,493 | 108,221 |
Gross Unrealized Gains | 0 | 225 |
Gross Unrealized Losses | (360) | (644) |
Fair Value | 83,133 | 107,802 |
U.S. Government agency securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 12,088 | 12,727 |
Gross Unrealized Gains | 223 | 266 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 12,311 | 12,993 |
Mortgage-backed securities issued by U.S. Government agencies | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 132,710 | 174,440 |
Gross Unrealized Gains | 640 | 1,116 |
Gross Unrealized Losses | (1,125) | (1,354) |
Fair Value | 132,225 | 174,202 |
Mortgage-backed securities issued by U.S. Government sponsored enterprises | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,881,234 | 2,543,495 |
Gross Unrealized Gains | 6,169 | 5,416 |
Gross Unrealized Losses | (30,998) | (42,571) |
Fair Value | 2,856,405 | 2,506,340 |
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 734,804 | 905,789 |
Gross Unrealized Gains | 84 | 1,214 |
Gross Unrealized Losses | (12,468) | (16,561) |
Fair Value | 722,420 | 890,442 |
State and municipal securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 290 | 2,780 |
Gross Unrealized Gains | 0 | 14 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 290 | 2,794 |
Equity securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 919 | |
Gross Unrealized Gains | 2,863 | |
Gross Unrealized Losses | 0 | |
Fair Value | 3,782 | |
Corporate debt and other securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 20,279 | 20,247 |
Gross Unrealized Gains | 205 | 0 |
Gross Unrealized Losses | (210) | (407) |
Fair Value | $ 20,274 | $ 19,840 |
Investment Securities (Schedule
Investment Securities (Schedule Of Unrealized Loss On Investments) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | $ 2,989,625 | $ 3,012,769 |
Less than 12 Months, Unrealized Losses | 44,161 | 60,156 |
12 Months or Longer, Fair Value | 28,281 | 33,315 |
12 Months or Longer, Unrealized Losses | 1,000 | 1,381 |
Total Fair Value, Fair Value | 3,017,906 | 3,046,084 |
Total Fair Value, Unrealized Losses | 45,161 | 61,537 |
U.S. Treasury securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 64,342 | 64,023 |
Less than 12 Months, Unrealized Losses | 360 | 644 |
12 Months or Longer, Fair Value | 0 | 0 |
12 Months or Longer, Unrealized Losses | 0 | 0 |
Total Fair Value, Fair Value | 64,342 | 64,023 |
Total Fair Value, Unrealized Losses | 360 | 644 |
Mortgage-backed securities issued by U.S. Government agencies | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 95,492 | 128,121 |
Less than 12 Months, Unrealized Losses | 1,125 | 1,240 |
12 Months or Longer, Fair Value | 0 | 3,626 |
12 Months or Longer, Unrealized Losses | 0 | 114 |
Total Fair Value, Fair Value | 95,492 | 131,747 |
Total Fair Value, Unrealized Losses | 1,125 | 1,354 |
Mortgage-backed securities issued by U.S. Government sponsored enterprises | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 2,161,449 | 2,123,181 |
Less than 12 Months, Unrealized Losses | 30,998 | 42,571 |
12 Months or Longer, Fair Value | 0 | 0 |
12 Months or Longer, Unrealized Losses | 0 | 0 |
Total Fair Value, Fair Value | 2,161,449 | 2,123,181 |
Total Fair Value, Unrealized Losses | 30,998 | 42,571 |
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 668,342 | 682,492 |
Less than 12 Months, Unrealized Losses | 11,678 | 15,653 |
12 Months or Longer, Fair Value | 23,212 | 24,801 |
12 Months or Longer, Unrealized Losses | 790 | 908 |
Total Fair Value, Fair Value | 691,554 | 707,293 |
Total Fair Value, Unrealized Losses | 12,468 | 16,561 |
Corporate debt and other securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 0 | 14,952 |
Less than 12 Months, Unrealized Losses | 0 | 48 |
12 Months or Longer, Fair Value | 5,069 | 4,888 |
12 Months or Longer, Unrealized Losses | 210 | 359 |
Total Fair Value, Fair Value | 5,069 | 19,840 |
Total Fair Value, Unrealized Losses | $ 210 | $ 407 |
Investment Securities (Amortize
Investment Securities (Amortized Cost And Estimated Fair Value By Contractual Maturity Of Investment Securities Available For Sale) (Details) $ in Thousands | Jun. 30, 2017USD ($) |
Schedule of Available-for-sale Securities [Line Items] | |
Within One year, Amortized Cost | $ 19,948 |
1 to 5 Years, Amortized Cost | 72,756 |
5 to 10 Years, Amortized Cost | 612,552 |
More Than 10 years, Amortized Cost | 3,156,363 |
No Stated Maturity, Amortized Cost | 3,279 |
Total, Amortized Cost | 3,864,898 |
Within One Year, Fair Value | 19,953 |
1 to 5 Years, Fair Value | 72,594 |
5 to 10 Years, Fair Value | 607,755 |
More Than 10 years, Fair Value | 3,123,614 |
No Stated Maturity, Fair Value | 3,142 |
Total, Fair Value | 3,827,058 |
U.S. Treasury securities | |
Schedule of Available-for-sale Securities [Line Items] | |
Within One year, Amortized Cost | 18,791 |
1 to 5 Years, Amortized Cost | 64,702 |
5 to 10 Years, Amortized Cost | 0 |
More Than 10 years, Amortized Cost | 0 |
No Stated Maturity, Amortized Cost | 0 |
Total, Amortized Cost | 83,493 |
Within One Year, Fair Value | 18,791 |
1 to 5 Years, Fair Value | 64,342 |
5 to 10 Years, Fair Value | 0 |
More Than 10 years, Fair Value | 0 |
No Stated Maturity, Fair Value | 0 |
Total, Fair Value | 83,133 |
U.S. Government agency securities | |
Schedule of Available-for-sale Securities [Line Items] | |
Within One year, Amortized Cost | 1,000 |
1 to 5 Years, Amortized Cost | 5,612 |
5 to 10 Years, Amortized Cost | 5,476 |
More Than 10 years, Amortized Cost | 0 |
No Stated Maturity, Amortized Cost | 0 |
Total, Amortized Cost | 12,088 |
Within One Year, Fair Value | 1,004 |
1 to 5 Years, Fair Value | 5,682 |
5 to 10 Years, Fair Value | 5,625 |
More Than 10 years, Fair Value | 0 |
No Stated Maturity, Fair Value | 0 |
Total, Fair Value | 12,311 |
Mortgage-backed securities issued by U.S. Government agencies | |
Schedule of Available-for-sale Securities [Line Items] | |
Within One year, Amortized Cost | 0 |
1 to 5 Years, Amortized Cost | 0 |
5 to 10 Years, Amortized Cost | 34,868 |
More Than 10 years, Amortized Cost | 97,842 |
No Stated Maturity, Amortized Cost | 0 |
Total, Amortized Cost | 132,710 |
Within One Year, Fair Value | 0 |
1 to 5 Years, Fair Value | 0 |
5 to 10 Years, Fair Value | 35,007 |
More Than 10 years, Fair Value | 97,218 |
No Stated Maturity, Fair Value | 0 |
Total, Fair Value | 132,225 |
Mortgage-backed securities issued by U.S. Government sponsored enterprises | |
Schedule of Available-for-sale Securities [Line Items] | |
Within One year, Amortized Cost | 47 |
1 to 5 Years, Amortized Cost | 2,262 |
5 to 10 Years, Amortized Cost | 535,035 |
More Than 10 years, Amortized Cost | 2,343,890 |
No Stated Maturity, Amortized Cost | 0 |
Total, Amortized Cost | 2,881,234 |
Within One Year, Fair Value | 48 |
1 to 5 Years, Fair Value | 2,390 |
5 to 10 Years, Fair Value | 529,968 |
More Than 10 years, Fair Value | 2,323,999 |
No Stated Maturity, Fair Value | 0 |
Total, Fair Value | 2,856,405 |
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises | |
Schedule of Available-for-sale Securities [Line Items] | |
Within One year, Amortized Cost | 0 |
1 to 5 Years, Amortized Cost | 0 |
5 to 10 Years, Amortized Cost | 22,173 |
More Than 10 years, Amortized Cost | 712,631 |
No Stated Maturity, Amortized Cost | 0 |
Total, Amortized Cost | 734,804 |
Within One Year, Fair Value | 0 |
1 to 5 Years, Fair Value | 0 |
5 to 10 Years, Fair Value | 21,950 |
More Than 10 years, Fair Value | 700,470 |
No Stated Maturity, Fair Value | 0 |
Total, Fair Value | 722,420 |
State and municipal securities | |
Schedule of Available-for-sale Securities [Line Items] | |
Within One year, Amortized Cost | 110 |
1 to 5 Years, Amortized Cost | 180 |
5 to 10 Years, Amortized Cost | 0 |
More Than 10 years, Amortized Cost | 0 |
No Stated Maturity, Amortized Cost | 0 |
Total, Amortized Cost | 290 |
Within One Year, Fair Value | 110 |
1 to 5 Years, Fair Value | 180 |
5 to 10 Years, Fair Value | 0 |
More Than 10 years, Fair Value | 0 |
No Stated Maturity, Fair Value | 0 |
Total, Fair Value | 290 |
Corporate debt and other securities | |
Schedule of Available-for-sale Securities [Line Items] | |
Within One year, Amortized Cost | 0 |
1 to 5 Years, Amortized Cost | 0 |
5 to 10 Years, Amortized Cost | 15,000 |
More Than 10 years, Amortized Cost | 2,000 |
No Stated Maturity, Amortized Cost | 3,279 |
Total, Amortized Cost | 20,279 |
Within One Year, Fair Value | 0 |
1 to 5 Years, Fair Value | 0 |
5 to 10 Years, Fair Value | 15,205 |
More Than 10 years, Fair Value | 1,927 |
No Stated Maturity, Fair Value | 3,142 |
Total, Fair Value | $ 20,274 |
Investment Securities (Summar41
Investment Securities (Summary Of Sales Transactions In The Investment Securities Available For Sale Portfolio) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Investments [Abstract] | ||||
Proceeds from sales of investment securities available for sale | $ 55,752 | $ 0 | $ 338,381 | $ 243,609 |
Gross realized gains on sales | 239 | 0 | 7,942 | 954 |
Gross realized losses on sales | (240) | 0 | (275) | (887) |
Investment securities gains, net | $ (1) | $ 0 | $ 7,667 | $ 67 |
Restructuring Charges (Schedule
Restructuring Charges (Schedule Of Restructuring And Related Costs) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Restructuring Charges [Abstract] | |||||
Severance charges | $ 0 | $ 6,453 | $ 0 | $ 6,453 | $ 0 |
Lease termination charges | 0 | (13) | 0 | 31 | |
Asset impairment charges | 0 | 5,821 | 0 | 6,866 | |
Loss (gain) on sale of assets held for sale, net | (4) | 13 | (4) | 13 | |
Other charges | 17 | 20 | 75 | 71 | |
Total restructuring charges, net | $ 13 | $ 5,841 | $ 6,524 | $ 6,981 |
Restructuring Charges (Restruct
Restructuring Charges (Restructuring Reserve) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Restructuring Reserve [Roll Forward] | ||||
Beginning balance | $ 10,004 | $ 6,078 | $ 4,049 | $ 6,617 |
Accruals for voluntary and involuntary termination benefits | (13) | 6,453 | 31 | |
Payments | (2,743) | (1,097) | (3,241) | (1,680) |
Ending balance | 7,261 | 4,968 | 7,261 | 4,968 |
Severance Charges | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning balance | 6,315 | 1,533 | 81 | 1,930 |
Accruals for voluntary and involuntary termination benefits | 0 | 6,453 | 0 | |
Payments | (2,584) | (940) | (2,803) | (1,337) |
Ending balance | 3,731 | 593 | 3,731 | 593 |
Lease Termination Charges | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning balance | 3,689 | 4,545 | 3,968 | 4,687 |
Accruals for voluntary and involuntary termination benefits | (13) | 0 | 31 | |
Payments | (159) | (157) | (438) | (343) |
Ending balance | $ 3,530 | $ 4,375 | $ 3,530 | $ 4,375 |
Restructuring Charges (Narrativ
Restructuring Charges (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Restructuring Cost and Reserve [Line Items] | ||||||
Severance charges | $ 0 | $ 6,453 | $ 0 | $ 6,453 | $ 0 | |
Special termination benefits | $ 6,200 | |||||
Restructuring charges | $ 13 | 5,841 | $ 6,524 | $ 6,981 | ||
Facility Closing | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges | 4,800 | |||||
Business exit costs | $ 1,000 | $ 1,100 |
Loans and Allowance for Loan 45
Loans and Allowance for Loan Losses (Narrative) (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | Dec. 31, 2016USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Average recorded investment in impaired loans | $ 232,532,000 | $ 281,900,000 | $ 233,791,000 | $ 290,300,000 | $ 274,515,000 |
Interest income recognized | 1,834,000 | 0 | 3,523,000 | 8,196,000 | |
Interest income recognized for accruing TDRs | 2,000,000 | 4,000,000 | |||
Non-accrual status | $ 60,800,000 | 60,800,000 | 53,700,000 | ||
Number of contracts | Contract | 3 | ||||
Post-default balance for modifications classified as TDRs | $ 292,000 | ||||
Provision for loan losses | 10,260,000 | $ 6,693,000 | $ 18,934,000 | $ 16,070,000 | |
Troubled Debt Restructurings That Subsequently Defaulted | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Number of contracts | Contract | 1 | 3 | 1 | ||
Post-default balance for modifications classified as TDRs | $ 92,000 | $ 292,000 | $ 92,000 | ||
Accruing TDRs With Modifications And Renewals Completed | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing troubled debt restructuring | $ 167,400,000 | $ 167,400,000 | 8,500,000 | ||
Provision for loan losses | 9,800,000 | ||||
Substandard | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Retail loan substandard period (in days) | 90 days | ||||
Loss And Charged Off | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Retail loans downgraded to loss (in days) | 120 days | ||||
Accruing TDRs With Modifications And Renewals Completed | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing troubled debt restructuring | $ 195,800,000 | ||||
Accruing TDRs With Modifications And Renewals Completed | Minimum | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial-type impaired loans | $ 1,000,000 |
Loans and Allowance for Loan 46
Loans and Allowance for Loan Losses (Schedule Of Current, Accruing Past Due And Nonaccrual Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | $ 24,230,445 | $ 23,663,898 | |
Accruing 30-89 Days Past Due | 62,238 | 61,971 | |
Accruing 90 Days or Greater Past Due | 4,550 | 3,135 | |
Total Accruing Past Due | 66,788 | 65,106 | |
Non-accrual | 159,317 | 153,378 | |
Total loans | 24,456,550 | 23,882,382 | $ 23,088,535 |
Deferred fees and costs, net | 26,000 | 26,000 | $ 27,600 |
Total commercial real estate | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 7,376,691 | 7,326,161 | |
Accruing 30-89 Days Past Due | 14,103 | 9,037 | |
Accruing 90 Days or Greater Past Due | 299 | 161 | |
Total Accruing Past Due | 14,402 | 9,198 | |
Non-accrual | 23,178 | 30,615 | |
Total loans | 7,414,271 | 7,365,974 | |
Investment properties | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 6,028,397 | 5,861,198 | |
Accruing 30-89 Days Past Due | 3,482 | 2,795 | |
Accruing 90 Days or Greater Past Due | 72 | 0 | |
Total Accruing Past Due | 3,554 | 2,795 | |
Non-accrual | 3,712 | 5,268 | |
Total loans | 6,035,663 | 5,869,261 | |
1-4 family properties | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 818,327 | 873,231 | |
Accruing 30-89 Days Past Due | 8,657 | 4,801 | |
Accruing 90 Days or Greater Past Due | 101 | 161 | |
Total Accruing Past Due | 8,758 | 4,962 | |
Non-accrual | 8,535 | 9,114 | |
Total loans | 835,620 | 887,307 | |
Land and development | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 529,967 | 591,732 | |
Accruing 30-89 Days Past Due | 1,964 | 1,441 | |
Accruing 90 Days or Greater Past Due | 126 | 0 | |
Total Accruing Past Due | 2,090 | 1,441 | |
Non-accrual | 10,931 | 16,233 | |
Total loans | 542,988 | 609,406 | |
Total commercial and industrial | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 11,630,913 | 11,447,947 | |
Accruing 30-89 Days Past Due | 23,961 | 27,455 | |
Accruing 90 Days or Greater Past Due | 1,566 | 964 | |
Total Accruing Past Due | 25,527 | 28,419 | |
Non-accrual | 94,468 | 75,577 | |
Total loans | 11,750,908 | 11,551,943 | |
Commercial, financial and agricultural | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 6,915,588 | 6,846,591 | |
Accruing 30-89 Days Past Due | 14,670 | 9,542 | |
Accruing 90 Days or Greater Past Due | 765 | 720 | |
Total Accruing Past Due | 15,435 | 10,262 | |
Non-accrual | 69,550 | 59,074 | |
Total loans | 7,000,573 | 6,915,927 | |
Owner-occupied | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 4,715,325 | 4,601,356 | |
Accruing 30-89 Days Past Due | 9,291 | 17,913 | |
Accruing 90 Days or Greater Past Due | 801 | 244 | |
Total Accruing Past Due | 10,092 | 18,157 | |
Non-accrual | 24,918 | 16,503 | |
Total loans | 4,750,335 | 4,636,016 | |
Total consumer | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 5,222,841 | 4,889,790 | |
Accruing 30-89 Days Past Due | 24,174 | 25,479 | |
Accruing 90 Days or Greater Past Due | 2,685 | 2,010 | |
Total Accruing Past Due | 26,859 | 27,489 | |
Non-accrual | 41,671 | 47,186 | |
Total loans | 5,291,371 | 4,964,465 | |
Home equity lines | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 1,533,528 | 1,585,228 | |
Accruing 30-89 Days Past Due | 8,286 | 10,013 | |
Accruing 90 Days or Greater Past Due | 705 | 473 | |
Total Accruing Past Due | 8,991 | 10,486 | |
Non-accrual | 20,648 | 21,551 | |
Total loans | 1,563,167 | 1,617,265 | |
Consumer mortgages | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 2,444,866 | 2,265,966 | |
Accruing 30-89 Days Past Due | 7,141 | 7,876 | |
Accruing 90 Days or Greater Past Due | 623 | 81 | |
Total Accruing Past Due | 7,764 | 7,957 | |
Non-accrual | 18,035 | 22,681 | |
Total loans | 2,470,665 | 2,296,604 | |
Credit cards | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 223,092 | 229,177 | |
Accruing 30-89 Days Past Due | 1,550 | 1,819 | |
Accruing 90 Days or Greater Past Due | 1,258 | 1,417 | |
Total Accruing Past Due | 2,808 | 3,236 | |
Non-accrual | 0 | 0 | |
Total loans | 225,900 | 232,413 | |
Other consumer loans | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 1,021,355 | 809,419 | |
Accruing 30-89 Days Past Due | 7,197 | 5,771 | |
Accruing 90 Days or Greater Past Due | 99 | 39 | |
Total Accruing Past Due | 7,296 | 5,810 | |
Non-accrual | 2,988 | 2,954 | |
Total loans | $ 1,031,639 | $ 818,183 |
Loans and Allowance for Loan 47
Loans and Allowance for Loan Losses (Loan Portfolio Credit Exposure) (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | |
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | $ 24,456,550 | $ 23,882,382 | $ 23,088,535 |
Accrual substandard loans | 235,800 | 256,600 | |
Deferred fees and costs, net | $ 26,000 | 26,000 | $ 27,600 |
Maximum | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Allowance for loan losses, percent of loan amount | 50.00% | ||
Total commercial real estate | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | $ 7,414,271 | 7,365,974 | |
Investment properties | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 6,035,663 | 5,869,261 | |
1-4 family properties | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 835,620 | 887,307 | |
Land and development | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 542,988 | 609,406 | |
Total commercial and industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 11,750,908 | 11,551,943 | |
Commercial, financial and agricultural | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 7,000,573 | 6,915,927 | |
Owner-occupied | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 4,750,335 | 4,636,016 | |
Total consumer | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 5,291,371 | 4,964,465 | |
Home equity lines | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 1,563,167 | 1,617,265 | |
Consumer mortgages | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 2,470,665 | 2,296,604 | |
Credit cards | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 225,900 | 232,413 | |
Other consumer loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 1,031,639 | 818,183 | |
Pass | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 23,758,754 | 23,147,814 | |
Pass | Total commercial real estate | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 7,218,925 | 7,135,790 | |
Pass | Investment properties | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 5,952,286 | 5,794,626 | |
Pass | 1-4 family properties | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 788,665 | 826,311 | |
Pass | Land and development | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 477,974 | 514,853 | |
Pass | Total commercial and industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 11,300,452 | 11,105,068 | |
Pass | Commercial, financial and agricultural | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 6,710,038 | 6,642,648 | |
Pass | Owner-occupied | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 4,590,414 | 4,462,420 | |
Pass | Total consumer | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 5,239,377 | 4,906,956 | |
Pass | Home equity lines | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 1,535,583 | 1,589,199 | |
Pass | Consumer mortgages | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 2,450,658 | 2,271,916 | |
Pass | Credit cards | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 224,643 | 230,997 | |
Pass | Other consumer loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 1,028,493 | 814,844 | |
Special Mention | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 302,709 | 324,593 | |
Special Mention | Total commercial real estate | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 126,196 | 137,469 | |
Special Mention | Investment properties | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 61,451 | 43,336 | |
Special Mention | 1-4 family properties | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 24,169 | 33,928 | |
Special Mention | Land and development | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 40,576 | 60,205 | |
Special Mention | Total commercial and industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 176,513 | 187,124 | |
Special Mention | Commercial, financial and agricultural | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 124,412 | 126,268 | |
Special Mention | Owner-occupied | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 52,101 | 60,856 | |
Special Mention | Total consumer | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Special Mention | Home equity lines | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Special Mention | Consumer mortgages | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Special Mention | Credit cards | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Special Mention | Other consumer loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Substandard | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 380,069 | 387,117 | |
Substandard | Total commercial real estate | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 65,712 | 85,450 | |
Substandard | Investment properties | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 21,926 | 31,299 | |
Substandard | 1-4 family properties | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 22,559 | 26,790 | |
Substandard | Land and development | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 21,227 | 27,361 | |
Substandard | Total commercial and industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 266,764 | 251,755 | |
Substandard | Commercial, financial and agricultural | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 160,354 | 140,425 | |
Substandard | Owner-occupied | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 106,410 | 111,330 | |
Substandard | Total consumer | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 47,593 | 49,912 | |
Substandard | Home equity lines | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 24,812 | 22,774 | |
Substandard | Consumer mortgages | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 19,528 | 23,268 | |
Substandard | Credit cards | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 445 | 637 | |
Substandard | Other consumer loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 2,808 | 3,233 | |
Doubtful | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 11,462 | 19,337 | |
Doubtful | Total commercial real estate | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 3,438 | 7,265 | |
Doubtful | Investment properties | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Doubtful | 1-4 family properties | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 227 | 278 | |
Doubtful | Land and development | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 3,211 | 6,987 | |
Doubtful | Total commercial and industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 7,039 | 7,855 | |
Doubtful | Commercial, financial and agricultural | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 5,629 | 6,445 | |
Doubtful | Owner-occupied | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 1,410 | 1,410 | |
Doubtful | Total consumer | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 985 | 4,217 | |
Doubtful | Home equity lines | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 373 | 2,892 | |
Doubtful | Consumer mortgages | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 313 | 1,283 | |
Doubtful | Credit cards | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Doubtful | Other consumer loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 299 | 42 | |
Loss | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 3,556 | 3,521 | |
Loss | Total commercial real estate | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Loss | Investment properties | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Loss | 1-4 family properties | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Loss | Land and development | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Loss | Total commercial and industrial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 140 | 141 | |
Loss | Commercial, financial and agricultural | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 140 | 141 | |
Loss | Owner-occupied | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Loss | Total consumer | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 3,416 | 3,380 | |
Loss | Home equity lines | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 2,399 | 2,400 | |
Loss | Consumer mortgages | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 166 | 137 | |
Loss | Credit cards | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 812 | 779 | |
Loss | Other consumer loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | $ 39 | $ 64 |
Loans and Allowance for Loan 48
Loans and Allowance for Loan Losses (Schedule Of Allowances For Loan Losses And Recorded Investment In Loans) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Allowance for loan losses: | |||||
Beginning balance, allowance | $ 253,514,000 | $ 254,516,000 | $ 251,758,000 | $ 252,496,000 | $ 252,496,000 |
Charge-offs | (19,663,000) | (15,771,000) | (32,398,000) | (27,086,000) | |
Recoveries | 3,984,000 | 9,638,000 | 9,801,000 | 13,596,000 | |
Provision for loan losses | 10,260,000 | 6,693,000 | 18,934,000 | 16,070,000 | |
Ending balance, allowance | 248,095,000 | 255,076,000 | 248,095,000 | 255,076,000 | 251,758,000 |
Ending balance: individually evaluated for impairment, allowance | 12,650,000 | 28,427,000 | 12,650,000 | 28,427,000 | |
Ending balance: collectively evaluated for impairment, allowance | 235,445,000 | 226,649,000 | 235,445,000 | 226,649,000 | |
Ending balance: total loans | 24,456,550,000 | 23,088,535,000 | 24,456,550,000 | 23,088,535,000 | 23,882,382,000 |
Ending balance: individually evaluated for impairment, loans | 228,215,000 | 270,547,000 | 228,215,000 | 270,547,000 | |
Ending balance: collectively evaluated for impairment, loans | 24,228,335,000 | 22,817,988,000 | 24,228,335,000 | 22,817,988,000 | |
Purchased credit-impaired loans | 0 | 0 | 0 | 0 | |
Allowance for purchased credit-impaired loans | 0 | 0 | 0 | 0 | |
Deferred fees and costs, net | 26,000,000 | 27,600,000 | 26,000,000 | 27,600,000 | 26,000,000 |
Commercial Real Estate | |||||
Allowance for loan losses: | |||||
Beginning balance, allowance | 78,314,000 | 84,557,000 | 81,816,000 | 87,133,000 | 87,133,000 |
Charge-offs | (1,299,000) | (7,455,000) | (3,207,000) | (9,277,000) | |
Recoveries | 759,000 | 5,397,000 | 3,648,000 | 6,690,000 | |
Provision for loan losses | (247,000) | (3,140,000) | (4,730,000) | (5,187,000) | |
Ending balance, allowance | 77,527,000 | 79,359,000 | 77,527,000 | 79,359,000 | 81,816,000 |
Ending balance: individually evaluated for impairment, allowance | 4,386,000 | 12,515,000 | 4,386,000 | 12,515,000 | |
Ending balance: collectively evaluated for impairment, allowance | 73,141,000 | 66,844,000 | 73,141,000 | 66,844,000 | |
Ending balance: total loans | 7,414,271,000 | 7,507,695,000 | 7,414,271,000 | 7,507,695,000 | |
Ending balance: individually evaluated for impairment, loans | 73,638,000 | 112,954,000 | 73,638,000 | 112,954,000 | |
Ending balance: collectively evaluated for impairment, loans | 7,340,633,000 | 7,394,741,000 | 7,340,633,000 | 7,394,741,000 | |
Commercial & Industrial | |||||
Allowance for loan losses: | |||||
Beginning balance, allowance | 127,096,000 | 124,878,000 | 125,778,000 | 122,989,000 | 122,989,000 |
Charge-offs | (12,642,000) | (5,136,000) | (19,535,000) | (10,661,000) | |
Recoveries | 1,458,000 | 3,078,000 | 3,282,000 | 4,342,000 | |
Provision for loan losses | 7,525,000 | 6,813,000 | 13,912,000 | 12,963,000 | |
Ending balance, allowance | 123,437,000 | 129,633,000 | 123,437,000 | 129,633,000 | 125,778,000 |
Ending balance: individually evaluated for impairment, allowance | 7,226,000 | 14,221,000 | 7,226,000 | 14,221,000 | |
Ending balance: collectively evaluated for impairment, allowance | 116,211,000 | 115,412,000 | 116,211,000 | 115,412,000 | |
Ending balance: total loans | 11,750,908,000 | 10,955,430,000 | 11,750,908,000 | 10,955,430,000 | |
Ending balance: individually evaluated for impairment, loans | 122,889,000 | 119,805,000 | 122,889,000 | 119,805,000 | |
Ending balance: collectively evaluated for impairment, loans | 11,628,019,000 | 10,835,625,000 | 11,628,019,000 | 10,835,625,000 | |
Retail | |||||
Allowance for loan losses: | |||||
Beginning balance, allowance | 48,104,000 | 45,081,000 | 44,164,000 | 42,374,000 | 42,374,000 |
Charge-offs | (5,722,000) | (3,180,000) | (9,656,000) | (7,148,000) | |
Recoveries | 1,767,000 | 1,163,000 | 2,871,000 | 2,564,000 | |
Provision for loan losses | 2,982,000 | 3,020,000 | 9,752,000 | 8,294,000 | |
Ending balance, allowance | 47,131,000 | 46,084,000 | 47,131,000 | 46,084,000 | $ 44,164,000 |
Ending balance: individually evaluated for impairment, allowance | 1,038,000 | 1,691,000 | 1,038,000 | 1,691,000 | |
Ending balance: collectively evaluated for impairment, allowance | 46,093,000 | 44,393,000 | 46,093,000 | 44,393,000 | |
Ending balance: total loans | 5,291,371,000 | 4,625,410,000 | 5,291,371,000 | 4,625,410,000 | |
Ending balance: individually evaluated for impairment, loans | 31,688,000 | 37,788,000 | 31,688,000 | 37,788,000 | |
Ending balance: collectively evaluated for impairment, loans | $ 5,259,683,000 | $ 4,587,622,000 | $ 5,259,683,000 | $ 4,587,622,000 |
Loans and Allowance for Loan 49
Loans and Allowance for Loan Losses (Schedule Of Impaired Loans) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | $ 45,024,000 | $ 45,024,000 | $ 28,751,000 | ||
Recorded Investment, With allowance recorded | 183,191,000 | 183,191,000 | 220,745,000 | ||
Recorded Investment | 228,215,000 | 228,215,000 | 249,496,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 63,474,000 | 63,474,000 | 40,794,000 | ||
Unpaid Principal Balance, With allowance recorded | 183,591,000 | 183,591,000 | 223,512,000 | ||
Unpaid Principal Balance | 247,065,000 | 247,065,000 | 264,306,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 12,650,000 | 12,650,000 | 18,111,000 | ||
Related Allowance | 12,650,000 | 12,650,000 | 18,111,000 | ||
Average Recorded Investment, With no related allowance recorded | 42,423,000 | 37,962,000 | 26,433,000 | ||
Average Recorded Investment, With allowance recorded | 190,109,000 | 195,829,000 | 248,082,000 | ||
Average Recorded Investment | 232,532,000 | $ 281,900,000 | 233,791,000 | $ 290,300,000 | 274,515,000 |
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 1,834,000 | 3,523,000 | 8,196,000 | ||
Interest Income Recognized | 1,834,000 | $ 0 | 3,523,000 | 8,196,000 | |
Total commercial real estate | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 2,479,000 | 2,479,000 | 3,490,000 | ||
Recorded Investment, With allowance recorded | 71,159,000 | 71,159,000 | 87,920,000 | ||
Recorded Investment | 73,638,000 | 73,638,000 | 91,410,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 8,121,000 | 8,121,000 | 10,975,000 | ||
Unpaid Principal Balance, With allowance recorded | 71,229,000 | 71,229,000 | 87,926,000 | ||
Unpaid Principal Balance | 79,350,000 | 79,350,000 | 98,901,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 4,386,000 | 4,386,000 | 7,916,000 | ||
Related Allowance | 4,386,000 | 4,386,000 | 7,916,000 | ||
Average Recorded Investment, With no related allowance recorded | 2,503,000 | 2,819,000 | 9,803,000 | ||
Average Recorded Investment, With allowance recorded | 71,763,000 | 73,951,000 | 108,091,000 | ||
Average Recorded Investment | 74,266,000 | 76,770,000 | 117,894,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 682,000 | 1,282,000 | 3,286,000 | ||
Interest Income Recognized | 682,000 | 1,282,000 | 3,286,000 | ||
Investment properties | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 0 | 0 | 748,000 | ||
Recorded Investment, With allowance recorded | 29,168,000 | 29,168,000 | 31,489,000 | ||
Recorded Investment | 29,168,000 | 29,168,000 | 32,237,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 0 | 0 | 793,000 | ||
Unpaid Principal Balance, With allowance recorded | 29,168,000 | 29,168,000 | 31,489,000 | ||
Unpaid Principal Balance | 29,168,000 | 29,168,000 | 32,282,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 1,175,000 | 1,175,000 | 2,044,000 | ||
Related Allowance | 1,175,000 | 1,175,000 | 2,044,000 | ||
Average Recorded Investment, With no related allowance recorded | 0 | 246,000 | 2,013,000 | ||
Average Recorded Investment, With allowance recorded | 29,264,000 | 29,575,000 | 42,659,000 | ||
Average Recorded Investment | 29,264,000 | 29,821,000 | 44,672,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 306,000 | 597,000 | 1,436,000 | ||
Interest Income Recognized | 306,000 | 597,000 | 1,436,000 | ||
1-4 family properties | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 253,000 | 253,000 | 643,000 | ||
Recorded Investment, With allowance recorded | 15,879,000 | 15,879,000 | 23,642,000 | ||
Recorded Investment | 16,132,000 | 16,132,000 | 24,285,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 2,582,000 | 2,582,000 | 2,939,000 | ||
Unpaid Principal Balance, With allowance recorded | 15,893,000 | 15,893,000 | 23,649,000 | ||
Unpaid Principal Balance | 18,475,000 | 18,475,000 | 26,588,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 448,000 | 448,000 | 769,000 | ||
Related Allowance | 448,000 | 448,000 | 769,000 | ||
Average Recorded Investment, With no related allowance recorded | 257,000 | 380,000 | 1,021,000 | ||
Average Recorded Investment, With allowance recorded | 16,133,000 | 16,995,000 | 39,864,000 | ||
Average Recorded Investment | 16,390,000 | 17,375,000 | 40,885,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 250,000 | 386,000 | 855,000 | ||
Interest Income Recognized | 250,000 | 386,000 | 855,000 | ||
Land and development | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 2,226,000 | 2,226,000 | 2,099,000 | ||
Recorded Investment, With allowance recorded | 26,112,000 | 26,112,000 | 32,789,000 | ||
Recorded Investment | 28,338,000 | 28,338,000 | 34,888,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 5,539,000 | 5,539,000 | 7,243,000 | ||
Unpaid Principal Balance, With allowance recorded | 26,168,000 | 26,168,000 | 32,788,000 | ||
Unpaid Principal Balance | 31,707,000 | 31,707,000 | 40,031,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 2,763,000 | 2,763,000 | 5,103,000 | ||
Related Allowance | 2,763,000 | 2,763,000 | 5,103,000 | ||
Average Recorded Investment, With no related allowance recorded | 2,246,000 | 2,193,000 | 6,769,000 | ||
Average Recorded Investment, With allowance recorded | 26,366,000 | 27,381,000 | 25,568,000 | ||
Average Recorded Investment | 28,612,000 | 29,574,000 | 32,337,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 126,000 | 299,000 | 995,000 | ||
Interest Income Recognized | 126,000 | 299,000 | 995,000 | ||
Total commercial and industrial | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 40,737,000 | 40,737,000 | 23,466,000 | ||
Recorded Investment, With allowance recorded | 82,152,000 | 82,152,000 | 97,094,000 | ||
Recorded Investment | 122,889,000 | 122,889,000 | 120,560,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 53,348,000 | 53,348,000 | 27,954,000 | ||
Unpaid Principal Balance, With allowance recorded | 82,481,000 | 82,481,000 | 99,855,000 | ||
Unpaid Principal Balance | 135,829,000 | 135,829,000 | 127,809,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 7,226,000 | 7,226,000 | 8,384,000 | ||
Related Allowance | 7,226,000 | 7,226,000 | 8,384,000 | ||
Average Recorded Investment, With no related allowance recorded | 38,112,000 | 33,339,000 | 14,715,000 | ||
Average Recorded Investment, With allowance recorded | 87,277,000 | 89,269,000 | 104,268,000 | ||
Average Recorded Investment | 125,389,000 | 122,608,000 | 118,983,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 772,000 | 1,461,000 | 3,161,000 | ||
Interest Income Recognized | 772,000 | 1,461,000 | 3,161,000 | ||
Commercial, financial and agricultural | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 26,913,000 | 26,913,000 | 17,958,000 | ||
Recorded Investment, With allowance recorded | 46,569,000 | 46,569,000 | 43,386,000 | ||
Recorded Investment | 73,482,000 | 73,482,000 | 61,344,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 33,098,000 | 33,098,000 | 20,577,000 | ||
Unpaid Principal Balance, With allowance recorded | 46,887,000 | 46,887,000 | 45,913,000 | ||
Unpaid Principal Balance | 79,985,000 | 79,985,000 | 66,490,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 5,524,000 | 5,524,000 | 5,687,000 | ||
Related Allowance | 5,524,000 | 5,524,000 | 5,687,000 | ||
Average Recorded Investment, With no related allowance recorded | 26,202,000 | 22,956,000 | 6,321,000 | ||
Average Recorded Investment, With allowance recorded | 48,959,000 | 46,455,000 | 51,968,000 | ||
Average Recorded Investment | 75,161,000 | 69,411,000 | 58,289,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 436,000 | 787,000 | 1,215,000 | ||
Interest Income Recognized | 436,000 | 787,000 | 1,215,000 | ||
Owner-occupied | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 13,824,000 | 13,824,000 | 5,508,000 | ||
Recorded Investment, With allowance recorded | 35,583,000 | 35,583,000 | 53,708,000 | ||
Recorded Investment | 49,407,000 | 49,407,000 | 59,216,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 20,250,000 | 20,250,000 | 7,377,000 | ||
Unpaid Principal Balance, With allowance recorded | 35,594,000 | 35,594,000 | 53,942,000 | ||
Unpaid Principal Balance | 55,844,000 | 55,844,000 | 61,319,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 1,702,000 | 1,702,000 | 2,697,000 | ||
Related Allowance | 1,702,000 | 1,702,000 | 2,697,000 | ||
Average Recorded Investment, With no related allowance recorded | 11,910,000 | 10,383,000 | 8,394,000 | ||
Average Recorded Investment, With allowance recorded | 38,318,000 | 42,814,000 | 52,300,000 | ||
Average Recorded Investment | 50,228,000 | 53,197,000 | 60,694,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 336,000 | 674,000 | 1,946,000 | ||
Interest Income Recognized | 336,000 | 674,000 | 1,946,000 | ||
Total consumer | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 1,808,000 | 1,808,000 | 1,795,000 | ||
Recorded Investment, With allowance recorded | 29,880,000 | 29,880,000 | 35,731,000 | ||
Recorded Investment | 31,688,000 | 31,688,000 | 37,526,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 2,005,000 | 2,005,000 | 1,865,000 | ||
Unpaid Principal Balance, With allowance recorded | 29,881,000 | 29,881,000 | 35,731,000 | ||
Unpaid Principal Balance | 31,886,000 | 31,886,000 | 37,596,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 1,038,000 | 1,038,000 | 1,811,000 | ||
Related Allowance | 1,038,000 | 1,038,000 | 1,811,000 | ||
Average Recorded Investment, With no related allowance recorded | 1,808,000 | 1,804,000 | 1,915,000 | ||
Average Recorded Investment, With allowance recorded | 31,069,000 | 32,609,000 | 35,723,000 | ||
Average Recorded Investment | 32,877,000 | 34,413,000 | 37,638,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 380,000 | 780,000 | 1,749,000 | ||
Interest Income Recognized | 380,000 | 780,000 | 1,749,000 | ||
Home equity lines | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 1,064,000 | 1,064,000 | 1,051,000 | ||
Recorded Investment, With allowance recorded | 7,135,000 | 7,135,000 | 9,638,000 | ||
Recorded Investment | 8,199,000 | 8,199,000 | 10,689,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 1,064,000 | 1,064,000 | 1,051,000 | ||
Unpaid Principal Balance, With allowance recorded | 7,135,000 | 7,135,000 | 9,638,000 | ||
Unpaid Principal Balance | 8,199,000 | 8,199,000 | 10,689,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 171,000 | 171,000 | 971,000 | ||
Related Allowance | 171,000 | 171,000 | 971,000 | ||
Average Recorded Investment, With no related allowance recorded | 1,064,000 | 1,060,000 | 1,045,000 | ||
Average Recorded Investment, With allowance recorded | 7,680,000 | 8,197,000 | 9,668,000 | ||
Average Recorded Investment | 8,744,000 | 9,257,000 | 10,713,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 229,000 | 465,000 | 432,000 | ||
Interest Income Recognized | 229,000 | 465,000 | 432,000 | ||
Consumer mortgages | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 744,000 | 744,000 | 744,000 | ||
Recorded Investment, With allowance recorded | 18,762,000 | 18,762,000 | 20,953,000 | ||
Recorded Investment | 19,506,000 | 19,506,000 | 21,697,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 941,000 | 941,000 | 814,000 | ||
Unpaid Principal Balance, With allowance recorded | 18,762,000 | 18,762,000 | 20,953,000 | ||
Unpaid Principal Balance | 19,703,000 | 19,703,000 | 21,767,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 598,000 | 598,000 | 673,000 | ||
Related Allowance | 598,000 | 598,000 | 673,000 | ||
Average Recorded Investment, With no related allowance recorded | 744,000 | 744,000 | 870,000 | ||
Average Recorded Investment, With allowance recorded | 19,009,000 | 19,720,000 | 20,993,000 | ||
Average Recorded Investment | 19,753,000 | 20,464,000 | 21,863,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 92,000 | 183,000 | 1,014,000 | ||
Interest Income Recognized | 92,000 | 183,000 | 1,014,000 | ||
Credit cards | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 0 | 0 | 0 | ||
Recorded Investment, With allowance recorded | 0 | 0 | 0 | ||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance, With no related allowance recorded | 0 | 0 | 0 | ||
Unpaid Principal Balance, With allowance recorded | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 0 | 0 | 0 | ||
Related Allowance | 0 | 0 | 0 | ||
Average Recorded Investment, With no related allowance recorded | 0 | 0 | 0 | ||
Average Recorded Investment, With allowance recorded | 0 | 0 | 0 | ||
Average Recorded Investment | 0 | 0 | 0 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized | 0 | 0 | 0 | ||
Other consumer loans | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 0 | 0 | 0 | ||
Recorded Investment, With allowance recorded | 3,983,000 | 3,983,000 | 5,140,000 | ||
Recorded Investment | 3,983,000 | 3,983,000 | 5,140,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 0 | 0 | 0 | ||
Unpaid Principal Balance, With allowance recorded | 3,984,000 | 3,984,000 | 5,140,000 | ||
Unpaid Principal Balance | 3,984,000 | 3,984,000 | 5,140,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 269,000 | 269,000 | 167,000 | ||
Related Allowance | 269,000 | 269,000 | 167,000 | ||
Average Recorded Investment, With no related allowance recorded | 0 | 0 | 0 | ||
Average Recorded Investment, With allowance recorded | 4,380,000 | 4,692,000 | 5,062,000 | ||
Average Recorded Investment | 4,380,000 | 4,692,000 | 5,062,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 59,000 | 132,000 | 303,000 | ||
Interest Income Recognized | $ 59,000 | $ 132,000 | $ 303,000 |
Loans and Allowance for Loan 50
Loans and Allowance for Loan Losses (Troubled Debt Restructurings) (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 26 | 49 | 55 | 110 |
Recorded Investment | $ 3,770,000 | $ 11,990,000 | $ 15,377,000 | $ 32,394,000 |
Net charge-offs | $ 0 | $ 0 | $ 0 | |
Total commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 9 | 18 | 17 | 33 |
Recorded Investment | $ 809,000 | $ 5,542,000 | $ 2,737,000 | $ 7,897,000 |
Investment properties | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 0 | 1 | 0 | 3 |
Recorded Investment | $ 0 | $ 1,389,000 | $ 0 | $ 1,974,000 |
1-4 family properties | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 8 | 12 | 16 | 19 |
Recorded Investment | $ 674,000 | $ 3,419,000 | $ 2,602,000 | $ 4,654,000 |
Land and development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 5 | 1 | 11 |
Recorded Investment | $ 135,000 | $ 734,000 | $ 135,000 | $ 1,269,000 |
Total commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 11 | 17 | 29 | 51 |
Recorded Investment | $ 2,657,000 | $ 4,626,000 | $ 12,061,000 | $ 22,010,000 |
Commercial, financial and agricultural | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 10 | 15 | 28 | 45 |
Recorded Investment | $ 2,635,000 | $ 3,392,000 | $ 12,039,000 | $ 18,793,000 |
Owner-occupied | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 2 | 1 | 6 |
Recorded Investment | $ 22,000 | $ 1,234,000 | $ 22,000 | $ 3,217,000 |
Total consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 6 | 14 | 9 | 26 |
Recorded Investment | $ 304,000 | $ 1,822,000 | $ 579,000 | $ 2,487,000 |
Home equity lines | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 0 | 1 | 0 | 3 |
Recorded Investment | $ 0 | $ 28,000 | $ 0 | $ 224,000 |
Consumer mortgages | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 3 | 1 | 6 |
Recorded Investment | $ 9,000 | $ 251,000 | $ 9,000 | $ 405,000 |
Credit cards | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 0 | 0 | 0 | 0 |
Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Other consumer loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 5 | 10 | 8 | 17 |
Recorded Investment | $ 295,000 | $ 1,543,000 | $ 570,000 | $ 1,858,000 |
Principal Forgiveness | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness | Total commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness | Investment properties | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness | 1-4 family properties | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness | Land and development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness | Total commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness | Commercial, financial and agricultural | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness | Owner-occupied | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness | Total consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness | Home equity lines | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness | Consumer mortgages | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness | Credit cards | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness | Other consumer loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Below Market Interest Rate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 2,373,000 | 7,872,000 | 7,849,000 | 22,833,000 |
Below Market Interest Rate | Total commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 478,000 | 4,484,000 | 2,089,000 | 5,316,000 |
Below Market Interest Rate | Investment properties | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 1,389,000 | 0 | 1,826,000 |
Below Market Interest Rate | 1-4 family properties | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 478,000 | 3,095,000 | 2,089,000 | 3,490,000 |
Below Market Interest Rate | Land and development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Below Market Interest Rate | Total commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 1,895,000 | 3,066,000 | 5,760,000 | 16,615,000 |
Below Market Interest Rate | Commercial, financial and agricultural | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 1,895,000 | 1,934,000 | 5,760,000 | 13,948,000 |
Below Market Interest Rate | Owner-occupied | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 1,132,000 | 0 | 2,667,000 |
Below Market Interest Rate | Total consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 322,000 | 0 | 902,000 |
Below Market Interest Rate | Home equity lines | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 28,000 | 0 | 224,000 |
Below Market Interest Rate | Consumer mortgages | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 200,000 | 0 | 354,000 |
Below Market Interest Rate | Credit cards | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Below Market Interest Rate | Other consumer loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 94,000 | 0 | 324,000 |
Term Extensions and/or Other Concessions | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 1,397,000 | 4,118,000 | 7,528,000 | 9,561,000 |
Term Extensions and/or Other Concessions | Total commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 331,000 | 1,058,000 | 648,000 | 2,581,000 |
Term Extensions and/or Other Concessions | Investment properties | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 148,000 |
Term Extensions and/or Other Concessions | 1-4 family properties | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 196,000 | 324,000 | 513,000 | 1,164,000 |
Term Extensions and/or Other Concessions | Land and development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 135,000 | 734,000 | 135,000 | 1,269,000 |
Term Extensions and/or Other Concessions | Total commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 762,000 | 1,560,000 | 6,301,000 | 5,395,000 |
Term Extensions and/or Other Concessions | Commercial, financial and agricultural | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 740,000 | 1,458,000 | 6,279,000 | 4,845,000 |
Term Extensions and/or Other Concessions | Owner-occupied | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 22,000 | 102,000 | 22,000 | 550,000 |
Term Extensions and/or Other Concessions | Total consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 304,000 | 1,500,000 | 579,000 | 1,585,000 |
Term Extensions and/or Other Concessions | Home equity lines | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Term Extensions and/or Other Concessions | Consumer mortgages | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 9,000 | 51,000 | 9,000 | 51,000 |
Term Extensions and/or Other Concessions | Credit cards | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Term Extensions and/or Other Concessions | Other consumer loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | $ 295,000 | $ 1,449,000 | $ 570,000 | $ 1,534,000 |
Other Comprehensive Income (L51
Other Comprehensive Income (Loss) (Narrative) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Class of Stock [Line Items] | ||||||
Accumulated other comprehensive income (loss) | $ (47,865) | $ (55,659) | ||||
Net unrealized gains (losses) on cash flow hedges | ||||||
Class of Stock [Line Items] | ||||||
Accumulated other comprehensive income (loss) | (12,137) | $ (12,177) | (12,217) | $ (12,297) | $ (12,336) | $ (12,504) |
Net unrealized gains (losses) on cash flow hedges | Valuation Allowance of Deferred Tax Assets | ||||||
Class of Stock [Line Items] | ||||||
Accumulated other comprehensive income (loss) | (12,100) | |||||
Net unrealized gains (losses) on investment securities available for sale | ||||||
Class of Stock [Line Items] | ||||||
Accumulated other comprehensive income (loss) | (36,586) | $ (43,444) | $ (44,324) | $ 22,459 | $ 10,747 | $ (18,222) |
Net unrealized gains (losses) on investment securities available for sale | Valuation Allowance of Deferred Tax Assets | ||||||
Class of Stock [Line Items] | ||||||
Accumulated other comprehensive income (loss) | $ (13,300) |
Other Comprehensive Income (L52
Other Comprehensive Income (Loss) (Changes in Accumulated Other Comprehensive Income (Loss) by Component (Net of Income Taxes)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Changes in Accumulated Other Comprehensive Income (Loss) by Component [Roll Forward] | ||||
Beginning balance | $ (55,659) | |||
Other comprehensive income, Net of Tax Amount | $ 6,886 | $ 11,745 | 7,794 | $ 40,824 |
Ending balance | (47,865) | (47,865) | ||
Total | ||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component [Roll Forward] | ||||
Beginning balance | (54,751) | (740) | (55,659) | (29,819) |
Other comprehensive income (loss) before reclassifications | 6,857 | 11,712 | 12,453 | 40,722 |
Amounts reclassified from accumulated other comprehensive income (loss) | 29 | 33 | (4,659) | 102 |
Other comprehensive income, Net of Tax Amount | 6,886 | 11,745 | 7,794 | 40,824 |
Ending balance | (47,865) | 11,005 | (47,865) | 11,005 |
Net unrealized gains (losses) on cash flow hedges | ||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component [Roll Forward] | ||||
Beginning balance | (12,177) | (12,336) | (12,217) | (12,504) |
Other comprehensive income (loss) before reclassifications | 0 | 0 | 0 | 0 |
Amounts reclassified from accumulated other comprehensive income (loss) | 40 | 39 | 80 | 207 |
Other comprehensive income, Net of Tax Amount | 40 | 39 | 80 | 207 |
Ending balance | (12,137) | (12,297) | (12,137) | (12,297) |
Net unrealized gains (losses) on investment securities available for sale | ||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component [Roll Forward] | ||||
Beginning balance | (43,444) | 10,747 | (44,324) | (18,222) |
Other comprehensive income (loss) before reclassifications | 6,857 | 11,712 | 12,453 | 40,722 |
Amounts reclassified from accumulated other comprehensive income (loss) | 1 | 0 | (4,715) | (41) |
Other comprehensive income, Net of Tax Amount | 6,858 | 11,712 | 7,738 | 40,681 |
Ending balance | (36,586) | 22,459 | (36,586) | 22,459 |
Post-retirement unfunded health benefit | ||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component [Roll Forward] | ||||
Beginning balance | 870 | 849 | 882 | 907 |
Other comprehensive income (loss) before reclassifications | 0 | 0 | 0 | 0 |
Amounts reclassified from accumulated other comprehensive income (loss) | (12) | (6) | (24) | (64) |
Other comprehensive income, Net of Tax Amount | (12) | (6) | (24) | (64) |
Ending balance | $ 858 | $ 843 | $ 858 | $ 843 |
Other Comprehensive Income (L53
Other Comprehensive Income (Loss) (Reclassifications out of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest expense | $ (34,413) | $ (30,944) | $ (66,887) | $ (62,073) |
Loss on early extinguishment of debt, net | 0 | 0 | 0 | (4,735) |
Income tax (expense) benefit | (41,788) | (33,574) | (75,635) | (64,773) |
Investment securities gains, net | (1) | 0 | 7,667 | 67 |
Salaries and other personnel expense | (191,747) | (188,611) | (389,133) | (376,844) |
Net income available to common shareholders | 73,444 | 57,898 | 142,742 | 107,870 |
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Net unrealized gains (losses) on cash flow hedges | ||||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest expense | (65) | (64) | (130) | (140) |
Loss on early extinguishment of debt, net | 0 | (197) | ||
Income tax (expense) benefit | 25 | 25 | 50 | 130 |
Net income available to common shareholders | (40) | (39) | (80) | (207) |
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Net unrealized gains (losses) on investment securities available for sale | ||||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income tax (expense) benefit | 0 | 0 | (2,952) | (26) |
Investment securities gains, net | (1) | 0 | 7,667 | 67 |
Net income available to common shareholders | (1) | 0 | 4,715 | 41 |
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Post-retirement unfunded health benefit | ||||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income tax (expense) benefit | (8) | (4) | (16) | (40) |
Salaries and other personnel expense | 20 | 10 | 40 | 104 |
Net income available to common shareholders | $ 12 | $ 6 | $ 24 | $ 64 |
Fair Value Accounting (Financia
Fair Value Accounting (Financial Instruments Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | $ 3,045 | $ 9,314 |
Investment securities available for sale | 3,827,058 | 3,718,195 |
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 722,420 | 890,442 |
State and municipal securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 290 | 2,794 |
U.S. Treasury securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 83,133 | 107,802 |
Mortgage-backed securities issued by U.S. Government agencies | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 132,225 | 174,202 |
Mortgage-backed securities issued by U.S. Government sponsored enterprises | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 2,856,405 | 2,506,340 |
Corporate debt and other securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 20,274 | 19,840 |
Equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 3,782 | |
Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | 1,890 |
Investment securities available for sale | 86,275 | 114,676 |
Private equity investments | 0 | 0 |
GGL/SBA loans servicing asset | 0 | |
Derivative assets | 0 | 0 |
Earnout liability | 0 | 0 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 3,045 | 7,424 |
Investment securities available for sale | 3,738,856 | 3,601,723 |
Private equity investments | 0 | 0 |
GGL/SBA loans servicing asset | 0 | |
Derivative assets | 16,725 | 20,623 |
Earnout liability | 0 | 0 |
Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | 0 |
Investment securities available for sale | 1,927 | 1,796 |
Private equity investments | 15,698 | 25,493 |
GGL/SBA loans servicing asset | 4,297 | |
Derivative assets | 0 | 0 |
Earnout liability | 13,941 | 14,000 |
Fair Value, Measurements, Recurring Basis | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 9,314 | |
Mortgage loans held for sale | 61,893 | 51,545 |
Investment securities available for sale | 3,827,058 | 3,718,195 |
Private equity investments | 15,698 | 25,493 |
Mutual funds held in Rabbi Trusts | 12,867 | 11,479 |
GGL/SBA loans servicing asset | 4,297 | |
Derivative assets | 16,725 | 20,623 |
Earnout liability | 13,941 | 14,000 |
Derivative liabilities | 18,442 | 23,299 |
Fair Value, Measurements, Recurring Basis | Corporate debt and other securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 1,990 | |
Fair Value, Measurements, Recurring Basis | U.S. Government agency securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 1,587 | |
Investment securities available for sale | 12,311 | 12,993 |
Fair Value, Measurements, Recurring Basis | Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 386 | 3,438 |
Investment securities available for sale | 722,420 | 890,442 |
Fair Value, Measurements, Recurring Basis | State and municipal securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 1,072 | 426 |
Investment securities available for sale | 290 | 2,794 |
Fair Value, Measurements, Recurring Basis | U.S. Treasury securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 83,133 | 107,802 |
Fair Value, Measurements, Recurring Basis | Mortgage-backed securities issued by U.S. Government agencies | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 3,460 | |
Investment securities available for sale | 132,225 | 174,202 |
Fair Value, Measurements, Recurring Basis | Mortgage-backed securities issued by U.S. Government sponsored enterprises | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 2,856,405 | 2,506,340 |
Fair Value, Measurements, Recurring Basis | Corporate debt and other securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 20,274 | 19,840 |
Fair Value, Measurements, Recurring Basis | Equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 3,782 | |
Fair Value, Measurements, Recurring Basis | Interest rate contracts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 15,332 | 17,157 |
Derivative liabilities | 13,389 | 17,531 |
Fair Value, Measurements, Recurring Basis | Mortgage derivatives | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 1,393 | 3,466 |
Fair Value, Measurements, Recurring Basis | Visa derivative | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liabilities | 5,053 | 5,768 |
Fair Value, Measurements, Recurring Basis | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | 1,890 |
Mortgage loans held for sale | 0 | 0 |
Investment securities available for sale | 86,275 | 114,676 |
Private equity investments | 0 | |
Mutual funds held in Rabbi Trusts | 12,867 | 11,479 |
GGL/SBA loans servicing asset | 0 | |
Derivative assets | 0 | 0 |
Earnout liability | 0 | 0 |
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 1 | Corporate debt and other securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 1,890 | |
Fair Value, Measurements, Recurring Basis | Level 1 | U.S. Government agency securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 1 | Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 1 | State and municipal securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | 0 |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 1 | U.S. Treasury securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 83,133 | 107,802 |
Fair Value, Measurements, Recurring Basis | Level 1 | Mortgage-backed securities issued by U.S. Government agencies | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 1 | Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | |
Fair Value, Measurements, Recurring Basis | Level 1 | Mortgage-backed securities issued by U.S. Government sponsored enterprises | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 1 | Corporate debt and other securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 3,142 | 3,092 |
Fair Value, Measurements, Recurring Basis | Level 1 | Equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 3,782 | |
Fair Value, Measurements, Recurring Basis | Level 1 | Interest rate contracts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 1 | Mortgage derivatives | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 1 | Visa derivative | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 3,045 | 7,424 |
Mortgage loans held for sale | 61,893 | 51,545 |
Investment securities available for sale | 3,738,856 | 3,601,723 |
Private equity investments | 0 | 0 |
Mutual funds held in Rabbi Trusts | 0 | 0 |
GGL/SBA loans servicing asset | 0 | |
Derivative assets | 16,725 | 20,623 |
Earnout liability | 0 | 0 |
Derivative liabilities | 13,389 | 17,531 |
Fair Value, Measurements, Recurring Basis | Level 2 | Corporate debt and other securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 100 | |
Fair Value, Measurements, Recurring Basis | Level 2 | U.S. Government agency securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 1,587 | |
Investment securities available for sale | 12,311 | 12,993 |
Fair Value, Measurements, Recurring Basis | Level 2 | Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 386 | 3,438 |
Investment securities available for sale | 722,420 | 890,442 |
Fair Value, Measurements, Recurring Basis | Level 2 | State and municipal securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 1,072 | 426 |
Investment securities available for sale | 290 | 2,794 |
Fair Value, Measurements, Recurring Basis | Level 2 | U.S. Treasury securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 2 | Mortgage-backed securities issued by U.S. Government agencies | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 3,460 | |
Investment securities available for sale | 132,225 | 174,202 |
Fair Value, Measurements, Recurring Basis | Level 2 | Mortgage-backed securities issued by U.S. Government sponsored enterprises | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 2,856,405 | 2,506,340 |
Fair Value, Measurements, Recurring Basis | Level 2 | Corporate debt and other securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 15,205 | 14,952 |
Fair Value, Measurements, Recurring Basis | Level 2 | Equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | |
Fair Value, Measurements, Recurring Basis | Level 2 | Interest rate contracts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 15,332 | 17,157 |
Derivative liabilities | 13,389 | 17,531 |
Fair Value, Measurements, Recurring Basis | Level 2 | Mortgage derivatives | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 1,393 | 3,466 |
Fair Value, Measurements, Recurring Basis | Level 2 | Visa derivative | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | 0 |
Mortgage loans held for sale | 0 | 0 |
Investment securities available for sale | 1,927 | 1,796 |
Private equity investments | 15,698 | 25,493 |
Mutual funds held in Rabbi Trusts | 0 | 0 |
GGL/SBA loans servicing asset | 4,297 | |
Derivative assets | 0 | 0 |
Earnout liability | 13,941 | 14,000 |
Derivative liabilities | 5,053 | 5,768 |
Fair Value, Measurements, Recurring Basis | Level 3 | Corporate debt and other securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | |
Fair Value, Measurements, Recurring Basis | Level 3 | U.S. Government agency securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 3 | Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | 0 |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 3 | State and municipal securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | 0 |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 3 | U.S. Treasury securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 3 | Mortgage-backed securities issued by U.S. Government agencies | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 3 | Mortgage-backed securities issued by U.S. Government sponsored enterprises | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 3 | Corporate debt and other securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 1,927 | 1,796 |
Fair Value, Measurements, Recurring Basis | Level 3 | Equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | |
Fair Value, Measurements, Recurring Basis | Level 3 | Interest rate contracts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 3 | Mortgage derivatives | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | 0 |
Fair Value, Measurements, Recurring Basis | Level 3 | Visa derivative | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liabilities | $ 5,053 | $ 5,768 |
Fair Value Accounting (Changes
Fair Value Accounting (Changes In Fair Value Included In Consolidated Statements Of Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |||||
Mortgage loans held for sale | $ (249) | $ 878 | $ 954 | $ 1,850 | |
Fair value | 61,893 | 61,893 | $ 51,545 | ||
Unpaid principal balance | 60,508 | 60,508 | 51,114 | ||
Fair value less aggregate unpaid principal balance | $ 1,385 | $ 1,385 | $ 431 |
Fair Value Accounting (Change56
Fair Value Accounting (Changes In Level 3 Fair Value Measurements) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Visa Derivative | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ (5,412) | $ (1,415) | $ (5,768) | $ (1,415) |
Included in earnings | 0 | (360) | 0 | (720) |
Unrealized gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Additions | 0 | 0 | ||
Sales and settlements | (359) | (715) | ||
Settlements | 360 | 720 | ||
Transfer from amortization method to fair value | 0 | |||
Measurement period adjustments related to Global One acquisition | 0 | 0 | ||
Ending balance | (5,053) | (1,415) | (5,053) | (1,415) |
Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at March 31, | 0 | (360) | 0 | (720) |
Other liabilities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | (11,421) | (14,000) | ||
Included in earnings | (1,707) | (1,707) | ||
Unrealized gains (losses) included in other comprehensive income | 0 | 0 | ||
Additions | 0 | 0 | ||
Sales and settlements | 0 | 0 | ||
Transfer from amortization method to fair value | 0 | |||
Measurement period adjustments related to Global One acquisition | (813) | 1,766 | ||
Ending balance | (13,941) | (13,941) | ||
Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at March 31, | (1,707) | (1,707) | ||
GGL / SBA Loans Servicing Asset | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 4,178 | 0 | ||
Included in earnings | (376) | (694) | ||
Unrealized gains (losses) included in other comprehensive income | 0 | 0 | ||
Additions | 495 | 539 | ||
Sales and settlements | 0 | 0 | ||
Transfer from amortization method to fair value | 4,452 | |||
Measurement period adjustments related to Global One acquisition | 0 | 0 | ||
Ending balance | 4,297 | 4,297 | ||
Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at March 31, | (376) | (694) | ||
Investment Securities Available for Sale | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 1,851 | 1,638 | 1,796 | 1,745 |
Included in earnings | 0 | 0 | 0 | 0 |
Unrealized gains (losses) included in other comprehensive income | 76 | (13) | 131 | (120) |
Additions | 0 | 0 | ||
Sales and settlements | 0 | 0 | ||
Settlements | 0 | 0 | ||
Transfer from amortization method to fair value | 0 | |||
Measurement period adjustments related to Global One acquisition | 0 | 0 | ||
Ending balance | 1,927 | 1,625 | 1,927 | 1,625 |
Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at March 31, | 0 | 0 | 0 | 0 |
Private Equity Investments | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 23,679 | 26,757 | 25,493 | 27,148 |
Included in earnings | (1,352) | 113 | (3,166) | (278) |
Unrealized gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Additions | 0 | 0 | ||
Sales and settlements | 6,629 | 6,629 | ||
Settlements | (4) | (4) | ||
Transfer from amortization method to fair value | 0 | |||
Measurement period adjustments related to Global One acquisition | 0 | 0 | ||
Ending balance | 15,698 | 26,866 | 15,698 | 26,866 |
Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at March 31, | $ (1,352) | $ 113 | $ (3,166) | $ (278) |
Fair Value Accounting (Assets A
Fair Value Accounting (Assets And Liabilities Measured At Fair Value On A Non-Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 228,215 | $ 249,496 |
Other real estate | 19,476 | 22,308 |
Fair Value, Measurements, Nonrecurring Basis | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 11,773 | 21,742 |
Other real estate | 12,367 | 19,305 |
Other assets held for sale | 0 | 12,083 |
Fair Value, Measurements, Nonrecurring Basis | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Other real estate | 0 | 0 |
Other assets held for sale | 0 | 0 |
Fair Value, Measurements, Nonrecurring Basis | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Other real estate | 0 | 0 |
Other assets held for sale | 0 | 0 |
Fair Value, Measurements, Nonrecurring Basis | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 11,773 | 21,742 |
Other real estate | 12,367 | 19,305 |
Other assets held for sale | $ 0 | $ 12,083 |
Fair Value Accounting (Assets M
Fair Value Accounting (Assets Measured at Fair Value on Nonrecurring Basis) (Details) - Fair Value, Measurements, Nonrecurring Basis - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Impaired loans | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value adjustment | $ 5,776 | $ 0 | $ 5,808 | $ 1,162 |
Other loans held for sale | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value adjustment | 0 | 0 | 3,519 | 0 |
Other real estate | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value adjustment | 280 | 2,053 | 518 | 3,306 |
Other assets held for sale | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value adjustment | $ 0 | $ 5,593 | $ 238 | $ 6,625 |
Fair Value Accounting (Fair Val
Fair Value Accounting (Fair Value Inputs, Assets, Quantitative Information) (Details) - Level 3 - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Fair Value, Measurements, Recurring Basis | Other liabilities | Option pricing methods and Monte Carlo simulation | Minimum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Earnings as defined in merger agreement | $ 11.8 | $ 9.3 |
Fair Value, Measurements, Recurring Basis | Other liabilities | Option pricing methods and Monte Carlo simulation | Maximum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Earnings as defined in merger agreement | $ 16.7 | $ 14.2 |
Fair Value, Measurements, Recurring Basis | Visa Derivative | Discounted cash flow analysis | Minimum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Estimated future monthly fees payable to the derivative counterparty, period | 1 year | 1 year |
Fair Value, Measurements, Recurring Basis | Visa Derivative | Discounted cash flow analysis | Maximum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Estimated future monthly fees payable to the derivative counterparty, period | 5 years | 5 years |
Fair Value, Measurements, Recurring Basis | Trust preferred securities | Discounted cash flow analysis | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Credit spread embedded in discount rate | 3.92% | 4.42% |
Fair Value, Measurements, Recurring Basis | Private equity investments | Internal valuation | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount for lack of liquidity | 15.00% | |
Fair Value, Measurements, Recurring Basis | GGL / SBA Loans Servicing Asset | Discounted cash flow analysis | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount rate | 12.01% | |
Prepayment speeds | 6.75% | |
Fair Value, Measurements, Nonrecurring Basis | Collateral dependent impaired loans | Third-party appraised value of collateral less estimated selling costs | Minimum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 0.00% | 0.00% |
Estimated selling costs | 0.00% | 0.00% |
Fair Value, Measurements, Nonrecurring Basis | Collateral dependent impaired loans | Third-party appraised value of collateral less estimated selling costs | Maximum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 60.00% | 52.00% |
Estimated selling costs | 10.00% | 10.00% |
Fair Value, Measurements, Nonrecurring Basis | Collateral dependent impaired loans | Third-party appraised value of collateral less estimated selling costs | Weighted Average | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 46.00% | 25.00% |
Estimated selling costs | 7.00% | 7.00% |
Fair Value, Measurements, Nonrecurring Basis | Other real estate | Third-party appraised value of collateral less estimated selling costs | Minimum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 0.00% | 0.00% |
Estimated selling costs | 0.00% | 0.00% |
Fair Value, Measurements, Nonrecurring Basis | Other real estate | Third-party appraised value of collateral less estimated selling costs | Maximum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 35.00% | 10.00% |
Estimated selling costs | 10.00% | 10.00% |
Fair Value, Measurements, Nonrecurring Basis | Other real estate | Third-party appraised value of collateral less estimated selling costs | Weighted Average | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 8.00% | 5.00% |
Estimated selling costs | 7.00% | 7.00% |
Fair Value, Measurements, Nonrecurring Basis | Other assets held for sale | Third-party appraised value less estimated selling costs or BOV | Minimum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 0.00% | |
Estimated selling costs | 0.00% | |
Fair Value, Measurements, Nonrecurring Basis | Other assets held for sale | Third-party appraised value less estimated selling costs or BOV | Maximum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 81.00% | |
Estimated selling costs | 10.00% | |
Fair Value, Measurements, Nonrecurring Basis | Other assets held for sale | Third-party appraised value less estimated selling costs or BOV | Weighted Average | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 47.00% | |
Estimated selling costs | 7.00% |
Fair Value Accounting (Carrying
Fair Value Accounting (Carrying And Estimated Fair Values Of Financial Instruments Carried On Balance Sheet) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financial assets | ||
Interest bearing funds with Federal Reserve Bank | $ 468,148 | $ 527,090 |
Interest earning deposits with banks | 6,012 | 18,720 |
Federal funds sold and securities purchased under resale agreements | 46,847 | 58,060 |
Trading account assets | 3,045 | 9,314 |
Mortgage loans held for sale | 61,893 | 51,545 |
Investment securities available for sale | 3,827,058 | 3,718,195 |
Loans, net | 24,182,417 | 23,604,633 |
Financial liabilities | ||
Non-interest bearing deposits | 7,363,476 | 7,085,804 |
Federal funds purchased, other short-term borrowings and other short-term liabilities | 150,379 | 159,699 |
Long-term debt | 2,107,245 | 2,160,881 |
Level 1 | ||
Financial assets | ||
Cash and cash equivalents | 377,213 | 395,175 |
Interest bearing funds with Federal Reserve Bank | 468,148 | 527,090 |
Interest earning deposits with banks | 6,012 | 18,720 |
Federal funds sold and securities purchased under resale agreements | 46,847 | 58,060 |
Trading account assets | 0 | 1,890 |
Mortgage loans held for sale | 0 | 0 |
Other loans held for sale | 0 | |
Investment securities available for sale | 86,275 | 114,676 |
Private equity investments | 0 | 0 |
Mutual funds held in Rabbi Trusts | 12,867 | 11,479 |
Loans, net | 0 | 0 |
GGL/SBA loans servicing asset | 0 | |
Derivative assets | 0 | 0 |
Financial liabilities | ||
Non-interest bearing deposits | 0 | 0 |
Interest bearing deposits | 0 | 0 |
Federal funds purchased, other short-term borrowings and other short-term liabilities | 150,379 | 159,699 |
Long-term debt | 0 | 0 |
Other liabilities | 0 | 0 |
Derivative liability positions | 0 | 0 |
Level 2 | ||
Financial assets | ||
Cash and cash equivalents | 0 | 0 |
Interest bearing funds with Federal Reserve Bank | 0 | 0 |
Interest earning deposits with banks | 0 | 0 |
Federal funds sold and securities purchased under resale agreements | 0 | 0 |
Trading account assets | 3,045 | 7,424 |
Mortgage loans held for sale | 61,893 | 51,545 |
Other loans held for sale | 127 | |
Investment securities available for sale | 3,738,856 | 3,601,723 |
Private equity investments | 0 | 0 |
Mutual funds held in Rabbi Trusts | 0 | 0 |
Loans, net | 0 | 0 |
GGL/SBA loans servicing asset | 0 | |
Derivative assets | 16,725 | 20,623 |
Financial liabilities | ||
Non-interest bearing deposits | 7,363,476 | 7,085,804 |
Interest bearing deposits | 17,852,694 | 17,560,021 |
Federal funds purchased, other short-term borrowings and other short-term liabilities | 0 | 0 |
Long-term debt | 2,155,543 | 2,217,544 |
Other liabilities | 0 | 0 |
Derivative liability positions | 13,389 | 17,531 |
Level 3 | ||
Financial assets | ||
Cash and cash equivalents | 0 | 0 |
Interest bearing funds with Federal Reserve Bank | 0 | 0 |
Interest earning deposits with banks | 0 | 0 |
Federal funds sold and securities purchased under resale agreements | 0 | 0 |
Trading account assets | 0 | 0 |
Mortgage loans held for sale | 0 | 0 |
Other loans held for sale | 0 | |
Investment securities available for sale | 1,927 | 1,796 |
Private equity investments | 15,698 | 25,493 |
Mutual funds held in Rabbi Trusts | 0 | 0 |
Loans, net | 24,191,120 | 23,709,434 |
GGL/SBA loans servicing asset | 4,297 | |
Derivative assets | 0 | 0 |
Financial liabilities | ||
Non-interest bearing deposits | 0 | 0 |
Interest bearing deposits | 0 | 0 |
Federal funds purchased, other short-term borrowings and other short-term liabilities | 0 | 0 |
Long-term debt | 0 | 0 |
Other liabilities | 13,941 | 14,000 |
Derivative liability positions | 5,053 | 5,768 |
Carrying Value | ||
Financial assets | ||
Cash and cash equivalents | 377,213 | 395,175 |
Interest bearing funds with Federal Reserve Bank | 468,148 | 527,090 |
Interest earning deposits with banks | 6,012 | 18,720 |
Federal funds sold and securities purchased under resale agreements | 46,847 | 58,060 |
Trading account assets | 3,045 | 9,314 |
Mortgage loans held for sale | 61,893 | 51,545 |
Other loans held for sale | 127 | |
Investment securities available for sale | 3,827,058 | 3,718,195 |
Private equity investments | 15,698 | 25,493 |
Mutual funds held in Rabbi Trusts | 12,867 | 11,479 |
Loans, net | 24,430,512 | 23,856,391 |
GGL/SBA loans servicing asset | 4,297 | |
Derivative assets | 16,725 | 20,623 |
Financial liabilities | ||
Non-interest bearing deposits | 7,363,476 | 7,085,804 |
Interest bearing deposits | 17,855,340 | 17,562,256 |
Federal funds purchased, other short-term borrowings and other short-term liabilities | 150,379 | 159,699 |
Long-term debt | 2,107,245 | 2,160,881 |
Other liabilities | 13,941 | 14,000 |
Derivative liability positions | 18,442 | 23,299 |
Fair Value | ||
Financial assets | ||
Cash and cash equivalents | 377,213 | 395,175 |
Interest bearing funds with Federal Reserve Bank | 468,148 | 527,090 |
Interest earning deposits with banks | 6,012 | 18,720 |
Federal funds sold and securities purchased under resale agreements | 46,847 | 58,060 |
Trading account assets | 3,045 | 9,314 |
Mortgage loans held for sale | 61,893 | 51,545 |
Other loans held for sale | 127 | |
Investment securities available for sale | 3,827,058 | 3,718,195 |
Private equity investments | 15,698 | 25,493 |
Mutual funds held in Rabbi Trusts | 12,867 | 11,479 |
Loans, net | 24,191,120 | 23,709,434 |
GGL/SBA loans servicing asset | 4,297 | |
Derivative assets | 16,725 | 20,623 |
Financial liabilities | ||
Non-interest bearing deposits | 7,363,476 | 7,085,804 |
Interest bearing deposits | 17,852,694 | 17,560,021 |
Federal funds purchased, other short-term borrowings and other short-term liabilities | 150,379 | 159,699 |
Long-term debt | 2,155,543 | 2,217,544 |
Other liabilities | 13,941 | 14,000 |
Derivative liability positions | $ 18,442 | $ 23,299 |
Derivative Instruments (Narrati
Derivative Instruments (Narrative) (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Derivative [Line Items] | |||
Remaining unamortized deferred gain (loss) balance of all previously terminated cash flow hedges | $ (130) | ||
Remaining deferred gain balance on all previously terminated fair value hedges | 873 | ||
Derivative, fair value | $ 5,100 | 5,800 | |
Gain (loss) on sale of outstanding commitments | (1,700) | $ (1,600) | |
Collateral requirements | 43,300 | ||
Deferred gains (loss) on discontinuation of cash flow hedge reclassified to earnings | 873 | 950 | |
Reclassification of hedge-related basis adjustment as a reduction to loss on early extinguishment of debt | 1,300 | ||
Fixed Rate Residential Mortgage | |||
Derivative [Line Items] | |||
Commitments to fund fixed-rate mortgage loans | 87,800 | 88,200 | |
Unrealized gain on fair value of fixed-rate mortgage loans to customers | (416) | $ 1,200 | |
Sale of outstanding commitments | 102,500 | 126,500 | |
Interest Rate Swap | |||
Derivative [Line Items] | |||
Notional amount of interest rate swap contracts | $ 1,490,000 | $ 160,400 |
Derivative Instruments (Impact
Derivative Instruments (Impact Of Derivatives On Balance Sheet) (Details) - Derivatives not designated as hedging instruments - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Other assets | ||
Derivative [Line Items] | ||
Fair value of derivative assets | $ 16,725 | $ 20,623 |
Other assets | Interest rate contracts | ||
Derivative [Line Items] | ||
Fair value of derivative assets | 15,332 | 17,157 |
Other assets | Mortgage derivatives | ||
Derivative [Line Items] | ||
Fair value of derivative assets | 1,393 | 3,466 |
Other assets | Visa derivative | ||
Derivative [Line Items] | ||
Fair value of derivative assets | 0 | 0 |
Other liabilities | ||
Derivative [Line Items] | ||
Fair value of derivative liabilities | 18,442 | 23,299 |
Other liabilities | Interest rate contracts | ||
Derivative [Line Items] | ||
Fair value of derivative liabilities | 13,389 | 17,531 |
Other liabilities | Mortgage derivatives | ||
Derivative [Line Items] | ||
Fair value of derivative liabilities | 0 | 0 |
Other liabilities | Visa derivative | ||
Derivative [Line Items] | ||
Fair value of derivative liabilities | $ 5,053 | $ 5,768 |
Derivative Instruments (Effect
Derivative Instruments (Effect Of Fair Value Hedges On Consolidated Statements Of Income) (Details) - Derivatives not designated as hedging instruments - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Derivative [Line Items] | ||||
Amount of Gain (Loss) Recognized in Income on Derivative | $ (289) | $ (308) | $ (2,074) | $ (452) |
Interest rate contracts | Other non-interest income | ||||
Derivative [Line Items] | ||||
Amount of Gain (Loss) Recognized in Income on Derivative | 0 | 27 | (1) | 33 |
Mortgage derivatives | Mortgage banking income | ||||
Derivative [Line Items] | ||||
Amount of Gain (Loss) Recognized in Income on Derivative | $ (289) | $ (335) | $ (2,073) | $ (485) |
Net Income Per Common Share (Sc
Net Income Per Common Share (Schedule Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Basic Earnings (Loss) Per Share | ||||
Net income available to common shareholders | $ 73,444 | $ 57,898 | $ 142,742 | $ 107,870 |
Weighted average common shares outstanding (in shares) | 122,203 | 125,100 | 122,251 | 126,164 |
Net income per common share, basic (in dollars per share) | $ 0.60 | $ 0.46 | $ 1.17 | $ 0.85 |
Diluted Earnings (Loss) Per Share | ||||
Net income available to common shareholders | $ 73,444 | $ 57,898 | $ 142,742 | $ 107,870 |
Weighted average common shares outstanding (in shares) | 122,203 | 125,100 | 122,251 | 126,164 |
Potentially dilutive shares from outstanding equity-based awards (in shares) | 824 | 599 | 792 | 614 |
Weighted average number of diluted common shares (in shares) | 123,027 | 125,699 | 123,043 | 126,778 |
Net income per common share, diluted (in dollars per share) | $ 0.60 | $ 0.46 | $ 1.16 | $ 0.85 |
Net Income Per Common Share (Na
Net Income Per Common Share (Narrative) (Details) - shares shares in Millions | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings Per Share [Abstract] | ||
Potentially dilutive shares | 2.2 | 2.5 |
Share-based Compensation (Detai
Share-based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation expense | $ 3.5 | $ 3.5 | $ 6.8 | $ 6.8 |
Stock Options | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Other equity compensation, shares granted (in shares) | 0 | 0 | ||
Options outstanding (in options) | 826,000 | 826,000 | ||
Weighted-average exercise price, options (in dollars per share) | $ 17.81 | $ 17.81 | ||
Restricted Stock Units (RSUs) | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 3 years | |||
Other equity compensation, shares granted (in shares) | 230,000 | |||
Performance Shares | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Other equity compensation, shares granted (in shares) | 73,000 | |||
Market Restricted Stock Units (MRSUs) | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 3 years | |||
Other equity compensation, shares granted (in shares) | 73,000 | |||
Weighted-average exercise price, shares granted during period (in dollars per share) | $ 41.93 | |||
Non-Vested Synovus Shares And Restricted Share Units | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Other equity compensation, non-vested shares outstanding (in shares) | 983,000 | 983,000 | ||
Weighted-average exercise price, non-vested shares outstanding (in dollars per share) | $ 32.82 | $ 32.82 | ||
Minimum | Market Restricted Stock Units (MRSUs) | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Range based on shareholder return | 75.00% | 75.00% | ||
Minimum | Performance Share Units (PSUs) | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Range based on return on average assets (ROAA) | 0.00% | 0.00% | ||
Maximum | Market Restricted Stock Units (MRSUs) | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Range based on shareholder return | 125.00% | 125.00% | ||
Maximum | Performance Share Units (PSUs) | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Range based on return on average assets (ROAA) | 150.00% | 150.00% | ||
2013 Omnibus Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Equivalents authorized (in shares) | 5,700,000 | 5,700,000 | ||
Shares of authorized but unissued common stock reserved for future grants (in shares) | 8,600,000 | 8,600,000 | ||
Contractual term (years) | 10 years | |||
2013 Omnibus Plan | Stock Options | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share equivalents ratio (in shares) | 1 | 1 | ||
2013 Omnibus Plan | Value Awards | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share equivalents ratio (in shares) | 2 | 2 | ||
2013 Omnibus Plan | Minimum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 3 years | |||
2013 Omnibus Plan | Maximum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 5 years |
Commitments and Contingencies67
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Loss Contingencies [Line Items] | ||
Contractual amount net of risk participations | $ 61,000 | $ 83,000 |
Guarantee obligations | ||
Loss Contingencies [Line Items] | ||
Total unfunded lending commitments and letters of credit | 9,210,133 | 8,845,199 |
Letters of credit | ||
Loss Contingencies [Line Items] | ||
Total unfunded lending commitments and letters of credit | 155,542 | 150,948 |
Commitments to fund commercial real estate, construction, and land development loans | ||
Loss Contingencies [Line Items] | ||
Total unfunded lending commitments and letters of credit | 1,427,947 | 1,394,162 |
Unused credit card lines | ||
Loss Contingencies [Line Items] | ||
Total unfunded lending commitments and letters of credit | 1,152,324 | 1,103,431 |
Commitments under home equity lines of credit | ||
Loss Contingencies [Line Items] | ||
Total unfunded lending commitments and letters of credit | 1,126,766 | 1,096,052 |
Commitments to fund commercial and industrial loans | ||
Loss Contingencies [Line Items] | ||
Total unfunded lending commitments and letters of credit | 5,039,168 | 4,792,834 |
Other loan commitments | ||
Loss Contingencies [Line Items] | ||
Total unfunded lending commitments and letters of credit | $ 308,386 | $ 307,772 |
Legal Proceedings (Details)
Legal Proceedings (Details) | Jun. 30, 2017USD ($) |
Minimum | |
Loss Contingencies [Line Items] | |
Total unfunded lending commitments and letters of credit | $ 0 |
Maximum | |
Loss Contingencies [Line Items] | |
Total unfunded lending commitments and letters of credit | $ 12,000,000 |
Agreement with World's Foremo69
Agreement with World's Foremost Bank and Capital One Bank (Details) - USD ($) $ in Thousands | Apr. 17, 2017 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 |
Business Combination, Separately Recognized Transactions [Line Items] | ||||||
Brokered deposits | $ 1,468,308 | $ 1,468,308 | $ 1,378,983 | |||
Transaction fee | 0 | $ 0 | 86 | $ 0 | ||
World's Foremost Bank (WFB) | ||||||
Business Combination, Separately Recognized Transactions [Line Items] | ||||||
Brokered deposits | $ 1,100,000 | $ 1,100,000 | ||||
Capital One | ||||||
Business Combination, Separately Recognized Transactions [Line Items] | ||||||
Transaction fee | $ 75,000 | |||||
Deposits portfolio, weighted average cost of funds, percent | 1.82% | |||||
Deposits portfolio, weighted average maturity, period | 2 years 9 months 15 days |