Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Jul. 31, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
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 | 122,932,237 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and cash equivalents | $ 377,334 | $ 367,092 |
Interest bearing funds with Federal Reserve Bank | 904,406 | 829,887 |
Interest earning deposits with banks | 24,541 | 17,387 |
Federal funds sold and securities purchased under resale agreements | 77,685 | 69,819 |
Trading account assets, at fair value | 1,001 | 5,097 |
Mortgage loans held for sale, at fair value | 87,824 | 59,275 |
Investment securities available for sale, at fair value | 3,580,359 | 3,587,818 |
Loans, net of deferred fees and costs | 23,060,908 | 22,429,565 |
Allowance for loan losses | (255,076) | (252,496) |
Loans, net | 22,805,832 | 22,177,069 |
Premises and equipment, net | 424,967 | 445,155 |
Goodwill | 24,431 | 24,431 |
Other real estate | 33,289 | 47,030 |
Deferred tax asset, net | 425,160 | 511,948 |
Other assets | 692,862 | 650,645 |
Total assets | 29,459,691 | 28,792,653 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Non-interest bearing deposits | 6,934,443 | 6,732,970 |
Interest bearing deposits, excluding brokered deposits | 15,495,318 | 15,434,171 |
Brokered deposits | 1,496,161 | 1,075,520 |
Total deposits | 23,925,922 | 23,242,661 |
Federal funds purchased and securities sold under repurchase agreements | 247,179 | 177,025 |
Long-term debt | 2,135,892 | 2,186,893 |
Other liabilities | 199,039 | 185,878 |
Total liabilities | 26,508,032 | 25,792,457 |
Shareholders' Equity | ||
Series C Preferred Stock – no par value. Authorized 100,000,000 shares; 5,200,000 shares issued and outstanding at June 30, 2016 and December 31, 2015 | 125,980 | 125,980 |
Common stock - $1.00 par value. Authorized 342,857,143 shares; 141,007,636 issued at June 30, 2016 and 140,592,409 issued at December 31, 2015; 124,047,659 outstanding at June 30, 2016 and 129,547,032 outstanding at December 31, 2015 | 141,008 | 140,592 |
Additional paid-in capital | 2,993,985 | 2,989,981 |
Treasury stock, at cost – 16,959,977 shares at June 30, 2016 and 11,045,377 shares at December 31, 2015 | (573,058) | (401,511) |
Accumulated other comprehensive gain (loss) | 11,005 | (29,819) |
Retained earnings | 252,739 | 174,973 |
Total shareholders’ equity | 2,951,659 | 3,000,196 |
Total liabilities and shareholders' equity | $ 29,459,691 | $ 28,792,653 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2016 | Dec. 31, 2015 |
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 | 141,007,636 | 140,592,409 |
Common stock, shares outstanding | 124,047,659 | 129,547,032 |
Treasury stock, shares at cost | 16,959,977 | 11,045,377 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Interest income: | ||||
Loans, including fees | $ 232,974 | $ 216,756 | $ 462,892 | $ 432,026 |
Investment securities available for sale | 16,685 | 14,175 | 33,655 | 28,117 |
Trading account assets | 12 | 117 | 34 | 224 |
Mortgage loans held for sale | 650 | 766 | 1,238 | 1,397 |
Federal Reserve Bank balances | 1,020 | 947 | 2,019 | 1,592 |
Other earning assets | 1,052 | 893 | 1,878 | 1,698 |
Total interest income | 252,393 | 233,654 | 501,716 | 465,054 |
Interest expense: | ||||
Deposits | 16,200 | 16,813 | 32,214 | 31,631 |
Federal funds purchased and securities sold under repurchase agreements | 51 | 46 | 96 | 89 |
Long-term debt | 14,693 | 13,151 | 29,763 | 26,427 |
Total interest expense | 30,944 | 30,010 | 62,073 | 58,147 |
Net interest income | 221,449 | 203,644 | 439,643 | 406,907 |
Provision for loan losses | 6,693 | 6,636 | 16,070 | 11,034 |
Net interest income after provision for loan losses | 214,756 | 197,008 | 423,573 | 395,873 |
Non-interest income: | ||||
Service charges on deposit accounts | 20,240 | 19,795 | 39,950 | 38,928 |
Fiduciary and asset management fees | 11,580 | 11,843 | 22,854 | 23,414 |
Brokerage revenue | 7,338 | 6,782 | 13,821 | 14,032 |
Mortgage banking income | 5,941 | 7,511 | 11,425 | 13,995 |
Bankcard fees | 8,346 | 8,499 | 16,718 | 16,576 |
Investment securities gains, net | 0 | 1,985 | 67 | 2,710 |
Other fee income | 5,280 | 4,605 | 10,084 | 9,851 |
Other non-interest income | 9,161 | 7,812 | 16,114 | 15,181 |
Total non-interest income | 67,886 | 68,832 | 131,033 | 134,687 |
Non-interest expense: | ||||
Salaries and other personnel expense | 97,061 | 94,565 | 198,419 | 191,054 |
Net occupancy and equipment expense | 26,783 | 26,541 | 53,360 | 52,713 |
Third-party processing expense | 11,698 | 10,672 | 22,814 | 21,015 |
FDIC insurance and other regulatory fees | 6,625 | 6,767 | 13,344 | 13,725 |
Professional fees | 6,938 | 6,417 | 13,307 | 12,011 |
Advertising expense | 7,351 | 2,865 | 9,761 | 6,309 |
Foreclosed real estate expense, net | 4,588 | 4,351 | 7,272 | 13,847 |
Loss on early extinguishment of debt | 0 | 0 | 4,735 | 0 |
Restructuring charges, net | 5,841 | 5 | 6,981 | (102) |
Other operating expenses | 21,726 | 25,623 | 46,851 | 46,141 |
Total non-interest expense | 188,611 | 177,806 | 376,844 | 356,713 |
Income before income taxes | 94,031 | 88,034 | 177,762 | 173,847 |
Income tax expense | 33,574 | 32,242 | 64,773 | 64,091 |
Net income | 60,457 | 55,792 | 112,989 | 109,756 |
Dividends on preferred stock | 2,559 | 2,559 | 5,119 | 5,119 |
Net income available to common shareholders | $ 57,898 | $ 53,233 | $ 107,870 | $ 104,637 |
Net income per common share, basic (in dollars per share) | $ 0.46 | $ 0.40 | $ 0.85 | $ 0.78 |
Net income per common share, diluted (in dollars per share) | $ 0.46 | $ 0.40 | $ 0.85 | $ 0.78 |
Weighted average common shares outstanding, basic (in shares) | 125,100 | 132,947 | 126,164 | 133,935 |
Weighted average common shares outstanding, diluted (in shares) | 125,699 | 133,625 | 126,778 | 134,678 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income, Before-tax Amount | $ 94,031 | $ 88,034 | $ 177,762 | $ 173,847 |
Net income, Tax (Expense) Benefit | (33,574) | (32,242) | (64,773) | (64,091) |
Net income | 60,457 | 55,792 | 112,989 | 109,756 |
Reclassification adjustment for losses realized in net income, Before-tax Amount | 64 | 112 | 337 | 224 |
Reclassification adjustment for losses realized in net income, Tax (Expense) Benefit | (25) | (44) | (130) | (87) |
Reclassification adjustment for losses realized in net income, Net of Tax Amount | 39 | 68 | 207 | 137 |
Net unrealized gains (losses) on investment securities available for sale: | ||||
Reclassification adjustment for net gains realized in net income, Before-tax Amount | 0 | (1,985) | (67) | (2,710) |
Net unrealized gains (losses) arising during the period, Before-tax Amount | 19,044 | (28,678) | 66,215 | (13,467) |
Net unrealized gain (losses)s, Before-tax Amount | 19,044 | (30,663) | 66,148 | (16,177) |
Net unrealized gains (losses) on investment securities available for sale: Tax (Expense) Benefit | ||||
Reclassification adjustment for net gains realized in net income, Tax (Expense) Benefit | 0 | 764 | 26 | 1,043 |
Net unrealized gains (losses) arising during the period, Tax (Expense) Benefit | (7,332) | 11,042 | (25,493) | 5,188 |
Net unrealized gains (losses), Tax (Expense) Benefit | (7,332) | 11,806 | (25,467) | 6,231 |
Net unrealized gains (losses) on investment securities available for sale: Net of Tax Amount | ||||
Reclassification adjustment for net gains realized in net income, Net of Tax Amount | 0 | (1,221) | (41) | (1,667) |
Net unrealized gains (losses) arising during the period, Net of Tax Amount | 11,712 | (17,636) | 40,722 | (8,279) |
Net unrealized gains (losses), Net of Tax Amount | 11,712 | (18,857) | 40,681 | (9,946) |
Post-retirement unfunded health benefit: Before-tax Amount | ||||
Reclassification adjustment for gains realized in net income, Before-tax Amount | (10) | (42) | (104) | (84) |
Actuarial gains arising during the period, Before-tax Amount | 0 | 236 | 0 | 236 |
Net unrealized (realized) gains, Before-tax Amount | (10) | 194 | (104) | 152 |
Post-retirement unfunded health benefit: Tax (Expense) Benefit | ||||
Reclassification adjustment for gains realized in net income, Tax (Expense) Benefit | 4 | 16 | 40 | 32 |
Actuarial gains arising during the period, Tax (Expense) Benefit | 0 | (93) | 0 | (93) |
Net unrealized (realized) gains, Tax (Expense) Benefit | 4 | (77) | 40 | (61) |
Post-retirement unfunded health benefit: Net of Tax Amount | ||||
Reclassification adjustment for gains realized in net income, Net of Tax Amount | (6) | (26) | (64) | (52) |
Actuarial gains arising during the period, Net of Tax Amount | 0 | 143 | 0 | 143 |
Net unrealized (realized) gains, Net of Tax Amount | (6) | 117 | (64) | 91 |
Other comprehensive income (loss), Before-tax Amount | 19,098 | (30,357) | 66,381 | (15,801) |
Other comprehensive income (loss), Tax (Expense) Benefit | (7,353) | 11,685 | (25,557) | 6,083 |
Other comprehensive income (loss), Net of Tax Amount | 11,745 | (18,672) | 40,824 | (9,718) |
Comprehensive income, Net of Tax Amount | $ 72,202 | $ 37,120 | $ 153,813 | $ 100,038 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member]Series C Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] |
Balance at Dec. 31, 2014 | $ 3,041,270 | $ 125,980 | $ 139,950 | $ 2,960,825 | $ (187,774) | $ (12,605) | $ 14,894 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 109,756 | 109,756 | |||||
Other comprehensive loss, net of income taxes | (9,718) | (9,718) | |||||
Cash dividends declared on common stock | (26,664) | (26,664) | |||||
Cash dividends paid on Series C Preferred Stock | (5,119) | (5,119) | |||||
Repurchases and completion of ASR agreement to repurchase shares of common stock | (109,570) | 14,515 | (124,085) | ||||
Restricted share unit activity | (4,403) | 278 | (4,314) | (367) | |||
Stock options exercised | 3,271 | 197 | 3,074 | ||||
Share-based compensation net tax benefit | 1,063 | 1,063 | |||||
Share-based compensation expense | 6,271 | 6,271 | |||||
Balance at Jun. 30, 2015 | 3,006,157 | 125,980 | 140,425 | 2,981,434 | (311,859) | (22,323) | 92,500 |
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 loss, 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 and completion of ASR agreement to repurchase shares 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 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Statement of Stockholders' Equity [Abstract] | ||
Cash dividends declared on common stock, per share | $ 0.24 | $ 0.20 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Operating Activities | ||
Net income | $ 112,989 | $ 109,756 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 16,070 | 11,034 |
Depreciation, amortization, and accretion, net | 28,506 | 28,169 |
Deferred income tax expense | 61,283 | 58,302 |
Decrease in trading account assets | 4,096 | 1,891 |
Originations of mortgage loans held for sale | (320,304) | (454,708) |
Proceeds from sales of mortgage loans held for sale | 299,186 | 426,430 |
Gain on sales of mortgage loans held for sale, net | (6,946) | (8,988) |
Increase in other assets | (32,874) | (36,398) |
Increase (decrease) in other liabilities | 13,162 | (34,914) |
Investment securities gains, net | (67) | (2,710) |
Losses and write-downs on other real estate, net | 6,089 | 11,066 |
Losses and write-downs on other assets held for sale, net | 7,902 | 0 |
Loss on early extinguishment of debt | 4,735 | 0 |
Share-based compensation expense | 6,849 | 6,271 |
Net cash provided by operating activities | 200,676 | 115,201 |
Investing Activities | ||
Net increase in interest earning deposits with banks | (7,154) | (6,884) |
Net (increase) decrease in federal funds sold and securities purchased under resale agreements | (7,866) | 623 |
Net increase in interest bearing funds with Federal Reserve Bank | (74,519) | (567,843) |
Proceeds from maturities and principal collections of investment securities available for sale | 443,128 | 314,239 |
Proceeds from sales of investment securities available for sale | 243,609 | 82,156 |
Purchases of investment securities available for sale | (623,046) | (686,074) |
Proceeds from sales of loans and principal repayments on other loans held for sale | 7,739 | 21,866 |
Proceeds from sales of loans and principal repayments on other loans held for sale | 16,282 | 19,348 |
Net increase in loans | (660,778) | (445,124) |
Net increase in premises and equipment | (16,769) | (8,805) |
Proceeds from sales of other assets held for sale | 296 | 351 |
Net cash used in investing activities | (679,078) | (1,276,147) |
Financing Activities | ||
Net increase in demand and savings deposits | 595,342 | 1,039,670 |
Net increase in certificates of deposit | 87,466 | 77,813 |
Net increase in federal funds purchased and securities sold under repurchase agreements | 70,154 | 61,369 |
Repayments on long-term debt | (1,455,067) | (425,078) |
Proceeds from issuance of long-term debt | 1,400,000 | 425,000 |
Dividends paid to common shareholders | (30,015) | (26,664) |
Dividends paid to preferred shareholders | (5,119) | (5,119) |
Stock options exercised | 2,035 | 3,271 |
Repurchases of common stock | (171,547) | (109,570) |
Restricted stock activity | (4,605) | (4,403) |
Net cash provided by financing activities | 488,644 | 1,036,289 |
Increase (decrease) in cash and cash equivalents | 10,242 | (124,657) |
Cash and cash equivalents at beginning of period | 367,092 | 485,489 |
Cash and cash equivalents at end of period | 377,334 | 360,832 |
Supplemental Cash Flow Information | ||
Income tax payments, net | 5,849 | 8,751 |
Interest paid | 64,424 | 55,747 |
Non-cash Activities | ||
Premises and equipment transferred to other assets held for sale | 18,677 | 939 |
Loans foreclosed and transferred to other real estate | 8,631 | 11,391 |
Loans transferred to other loans held for sale at fair value | 7,314 | 19,459 |
Securities purchased during the period but settled after period-end | $ 0 | $ 47,159 |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2016 | |
Significant 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, member FDIC, 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, and international banking. Synovus also provides mortgage services, financial planning, and investment advisory services through its wholly-owned subsidiaries, Synovus Mortgage, Synovus Trust, and Synovus Securities, as well as its GLOBALT and Creative Financial Group divisions. These specialized offerings, combined with traditional banking products and services, make Synovus Bank a great choice for retail and commercial customers. Synovus Bank's 28 locally-branded bank divisions are positioned in some of the best markets in the Southeast, with 253 branches and 335 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' 2015 Form 10-K. There have been no significant changes to the accounting policies as disclosed in Synovus' 2015 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 June 30, 2016 , there were no cash and cash equivalents restricted as to withdrawal. At December 31, 2015 , $ 100 thousand of the due from banks balance was restricted as to withdrawal. 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, 2016 and December 31, 2015 , interest bearing funds with the Federal Reserve Bank included $132.5 million and $117.3 million , respectively, on deposit to meet Federal Reserve Bank requirements. Interest earning deposits with banks include $5.5 million and $2.2 million at June 30, 2016 and December 31, 2015 , respectively, which are pledged as collateral in connection with certain letters of credit. Federal funds sold include $75.2 million and $65.9 million at June 30, 2016 and December 31, 2015 , 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 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis , which became effective for Synovus on January 1, 2016. ASU 2015-02 was issued by the FASB to modify the analysis that companies must perform in order to determine whether a legal entity should be consolidated. ASU 2015-02 simplifies current consolidation rules by reducing the number of consolidation models; placing more emphasis on risk of loss when determining a controlling financial interest; reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a VIE; and changing consolidation conclusions for public and private companies in several industries that typically make use of limited partnerships or VIEs. Adoption of ASU 2015-02 did not have an impact on Synovus’ consolidated financial statements. Reclassifications Prior periods' consolidated financial statements are reclassified whenever necessary to conform to the current periods' presentation. Subsequent Events Synovus has evaluated for consideration, or disclosure, all transactions, events, and circumstances, subsequent to the date of the consolidated balance sheet and through the date the accompanying unaudited interim consolidated financial statements were issued, and has reflected, or disclosed, those items deemed appropriate within the unaudited interim consolidated financial statements. |
Share Repurchase Programs
Share Repurchase Programs | 6 Months Ended |
Jun. 30, 2016 | |
Equity [Abstract] | |
Share Repurchase Program | Note 2 - Share Repurchase Program During the third quarter of 2015, Synovus' Board of Directors authorized a $300 million share repurchase program to be completed over the next 15 months. As of June 30, 2016 , Synovus had repurchased a total of $208.5 million or 7.1 million shares under the $300 million share repurchase program. Share repurchases under the program by quarter are as follows: second quarter of 2016 - $60.5 million ( 2.0 million shares), first quarter of 2016 - $110.9 million ( 3.9 million shares), and fourth quarter of 2015 - $37.1 million ( 1.2 million shares). At June 30, 2016 , the remaining authorization under this program was $91.5 million . |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2016 | |
Investments [Abstract] | |
Investment Securities | Note 3 - Investment Securities The amortized cost, gross unrealized gains and losses, and estimated fair values of investment securities available for sale at June 30, 2016 and December 31, 2015 are summarized below. June 30, 2016 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 73,741 1,082 — 74,823 U.S. Government agency securities 13,006 443 — 13,449 Securities issued by U.S. Government sponsored enterprises 50,063 54 — 50,117 Mortgage-backed securities issued by U.S. Government agencies 189,281 3,583 (81 ) 192,783 Mortgage-backed securities issued by U.S. Government sponsored enterprises 2,544,204 37,817 (352 ) 2,581,669 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 625,458 10,298 (142 ) 635,614 State and municipal securities 3,000 47 (1 ) 3,046 Equity securities 3,228 5,503 — 8,731 Other investments 20,210 333 (416 ) 20,127 Total investment securities available for sale $ 3,522,191 59,160 (992 ) 3,580,359 December 31, 2015 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 43,125 232 — 43,357 U.S. Government agency securities 13,087 536 — 13,623 Securities issued by U.S. Government sponsored enterprises 126,520 389 — 126,909 Mortgage-backed securities issued by U.S. Government agencies 209,785 1,340 (1,121 ) 210,004 Mortgage-backed securities issued by U.S. Government sponsored enterprises 2,645,107 7,874 (22,562 ) 2,630,419 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 530,426 2,396 (3,225 ) 529,597 State and municipal securities 4,343 92 (1 ) 4,434 Equity securities 3,228 6,444 — 9,672 Other investments 20,177 — (374 ) 19,803 Total investment securities available for sale $ 3,595,798 19,303 (27,283 ) 3,587,818 At June 30, 2016 and December 31, 2015 , investment securities with a carrying value of $2.19 billion and $2.43 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, 2016 and December 31, 2015 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 income. 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, 2016 , Synovus had five investment securities in a loss position for less than twelve months and eight 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, 2016 and December 31, 2015 , are presented below. June 30, 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 Mortgage-backed securities issued by U.S. Government agencies — — 9,785 81 9,785 81 Mortgage-backed securities issued by U.S. Government sponsored enterprises 170,365 352 — — 170,365 352 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — 27,827 142 27,827 142 State and municipal securities — — 53 1 53 1 Other investments — — 4,794 416 4,794 416 Total $ 170,365 352 42,459 640 212,824 992 December 31, 2015 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 Mortgage-backed securities issued by U.S. Government agencies 122,626 639 18,435 482 141,061 1,121 Mortgage-backed securities issued by U.S. Government sponsored enterprises 1,656,194 12,874 489,971 9,688 2,146,165 22,562 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 196,811 963 72,366 2,262 269,177 3,225 State and municipal securities — — 50 1 50 1 Other investments 14,985 15 4,818 359 19,803 374 Total $ 1,990,616 14,491 585,640 12,792 2,576,256 27,283 The amortized cost and fair value by contractual maturity of investment securities available for sale at June 30, 2016 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, 2016 (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 $ 18,758 54,983 — — — 73,741 U.S. Government agency securities — 6,613 6,393 — — 13,006 Securities issued by U.S. Government sponsored enterprises 50,063 — — — — 50,063 Mortgage-backed securities issued by U.S. Government agencies — — 16,261 173,020 — 189,281 Mortgage-backed securities issued by U.S. Government sponsored enterprises — 454 1,254,247 1,289,503 — 2,544,204 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — — 625,458 — 625,458 State and municipal securities 184 350 — 2,466 — 3,000 Equity securities — — — — 3,228 3,228 Other investments — — 15,000 2,000 3,210 20,210 Total amortized cost $ 69,005 62,400 1,291,901 2,092,447 6,438 3,522,191 Fair Value U.S. Treasury securities $ 18,758 56,065 — — — 74,823 U.S. Government agency securities — 6,800 6,649 — — 13,449 Securities issued by U.S. Government sponsored enterprises 50,117 — — — — 50,117 Mortgage-backed securities issued by U.S. Government agencies — — 16,653 176,130 — 192,783 Mortgage-backed securities issued by U.S. Government sponsored enterprises — 469 1,269,397 1,311,803 — 2,581,669 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — — 635,614 — 635,614 State and municipal securities 184 350 — 2,512 — 3,046 Equity securities — — — — 8,731 8,731 Other investments — — 15,333 1,625 3,169 20,127 Total fair value $ 69,059 63,684 1,308,032 2,127,684 11,900 3,580,359 Proceeds from sales, gross gains, and gross losses on sales of securities available for sale for the six and three months ended June 30, 2016 and 2015 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) 2016 2015 2016 2015 Proceeds from sales of investment securities available for sale $ 243,609 82,156 $ — 49,737 Gross realized gains 954 2,710 — 1,985 Gross realized losses (887 ) — — — Investment securities gains, net $ 67 2,710 $ — 1,985 |
Restructuring Charges
Restructuring Charges | 6 Months Ended |
Jun. 30, 2016 | |
Restructuring Charges [Abstract] | |
Restructuring Charges | Note 4 - Restructuring Charges For the six and three months ended June 30, 2016 and 2015 , total restructuring charges consist of the following components: Six Months Ended June 30, Three Months Ended June 30, (in thousands) 2016 2015 2016 2015 Lease termination charges $ 31 (4 ) $ (13 ) (4 ) Asset impairment charges 6,866 — 5,821 — Loss (gain) on sale of assets held for sale, net 13 (157 ) 13 — Professional fees and other charges 71 59 20 9 Total restructuring charges, net $ 6,981 (102 ) $ 5,841 5 For the three months ended June 30, 2016 , Synovus recorded restructuring charges of $5.8 million with $4.8 million of these charges related to Synovus' continued corporate real estate optimization activities. Synovus continues to evaluate its branch network while deploying additional digital and on-line capabilities to increase convenience for customers while lowering transaction costs, and identified during the second quarter three branch closures to be completed by year-end, which will be in addition to the four branches closed earlier this year. Restructuring charges associated with branch closures identified during 2016 totaled $1.0 million and $1.1 million during the second and first quarter of 2016, respectively. After these closures, the branch network will consist of 250 locations by year-end, which will represent a 22.6% reduction from year-end 2010. During the six months ended June 30, 2015 , Synovus recorded net gains of $157 thousand on the sale of certain branch locations. The following tables present aggregate activity within the accrual for restructuring charges for the six and three months ended June 30, 2016 and 2015 : (in thousands) Severance Charges Lease Termination Charges Total Balance at December 31, 2015 $ 1,930 4,687 6,617 Accruals for efficiency initiatives — 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 efficiency initiatives — (13 ) (13 ) Payments (940 ) (157 ) (1,097 ) Balance at June 30, 2016 $ 593 4,375 4,968 (in thousands) Severance Charges Lease Termination Charges Total Balance at December 31, 2014 $ 3,291 5,539 8,830 Accruals for efficiency initiatives — (4 ) (4 ) Payments (1,038 ) (411 ) (1,449 ) Balance at June 30, 2015 $ 2,253 5,124 7,377 Balance at April 1, 2015 2,770 5,318 8,088 Accruals for efficiency initiatives — (4 ) (4 ) Payments (517 ) (190 ) (707 ) Balance at June 30, 2015 $ 2,253 5,124 7,377 All professional fees and 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, 2016 | |
Loans and Allowance for Loan Losses [Abstract] | |
Loans and Allowance for Loan Losses | Note 5 - 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, 2016 and December 31, 2015 . Current, Accruing Past Due, and Non-accrual Loans June 30, 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 $ 5,901,061 5,451 — 5,451 14,149 5,920,661 1-4 family properties 1,106,507 3,270 134 3,404 17,869 1,127,780 Land acquisition 448,740 2,698 206 2,904 7,610 459,254 Total commercial real estate 7,456,308 11,419 340 11,759 39,628 7,507,695 Commercial, financial and agricultural 6,526,947 10,025 4,042 14,067 55,821 6,596,835 Owner-occupied 4,331,804 9,673 — 9,673 17,118 4,358,595 Total commercial and industrial 10,858,751 19,698 4,042 23,740 72,939 10,955,430 Home equity lines 1,633,322 6,604 271 6,875 16,912 1,657,109 Consumer mortgages 2,103,106 7,113 — 7,113 21,895 2,132,114 Credit cards 233,118 1,610 1,306 2,916 — 236,034 Other retail loans 594,142 3,308 5 3,313 2,698 600,153 Total retail 4,563,688 18,635 1,582 20,217 41,505 4,625,410 Total loans $ 22,878,747 49,752 5,964 55,716 154,072 23,088,535 (1 ) December 31, 2015 (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 $ 5,726,307 2,284 — 2,284 23,040 5,751,631 1-4 family properties 1,105,914 6,300 103 6,403 16,839 1,129,156 Land acquisition 495,542 639 32 671 17,768 513,981 Total commercial real estate 7,327,763 9,223 135 9,358 57,647 7,394,768 Commercial, financial and agricultural 6,391,036 12,222 785 13,007 49,137 6,453,180 Owner-occupied 4,293,308 5,254 95 5,349 20,293 4,318,950 Total commercial and industrial 10,684,344 17,476 880 18,356 69,430 10,772,130 Home equity lines 1,667,552 5,882 — 5,882 16,480 1,689,914 Consumer mortgages 1,907,644 8,657 134 8,791 22,248 1,938,683 Credit cards 237,742 1,663 1,446 3,109 — 240,851 Other retail loans 418,337 2,390 26 2,416 2,565 423,318 Total retail 4,231,275 18,592 1,606 20,198 41,293 4,292,766 Total loans $ 22,243,382 45,291 2,621 47,912 168,370 22,459,664 (2 ) (1) Total before net deferred fees and costs of $27.6 million . (2) Total before net deferred fees and costs of $30.1 million . The credit quality of the loan portfolio is summarized 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, retail 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 retail 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 the associated senior lien with other financial institutions. Loan Portfolio Credit Exposure by Risk Grade June 30, 2016 (in thousands) Pass Special Mention Substandard (1) Doubtful (2) Loss Total Investment properties $ 5,788,229 86,101 46,331 — — 5,920,661 1-4 family properties 1,009,820 51,938 58,789 7,233 — 1,127,780 Land acquisition 387,082 52,062 19,784 326 — 459,254 Total commercial real estate 7,185,131 190,101 124,904 7,559 — 7,507,695 Commercial, financial and agricultural 6,317,597 163,494 105,107 10,400 237 (3) 6,596,835 Owner-occupied 4,160,662 81,636 114,409 1,420 468 (3) 4,358,595 Total commercial and industrial 10,478,259 245,130 219,516 11,820 705 10,955,430 Home equity lines 1,632,841 — 21,808 1,201 1,259 (3) 1,657,109 Consumer mortgages 2,102,767 — 27,808 1,372 167 (3) 2,132,114 Credit cards 234,728 — 533 — 773 (4) 236,034 Other retail loans 595,455 — 4,620 — 78 (3) 600,153 Total retail 4,565,791 — 54,769 2,573 2,277 4,625,410 Total loans $ 22,229,181 435,231 399,189 21,952 2,982 23,088,535 (5 ) December 31, 2015 (in thousands) Pass Special Mention Substandard (1) Doubtful (2) Loss Total Investment properties $ 5,560,595 114,705 76,331 — — 5,751,631 1-4 family properties 995,903 64,325 61,726 7,202 — 1,129,156 Land acquisition 436,835 46,208 30,574 364 — 513,981 Total commercial real estate 6,993,333 225,238 168,631 7,566 — 7,394,768 Commercial, financial and agricultural 6,184,179 152,189 100,658 13,330 2,824 (3) 6,453,180 Owner-occupied 4,118,631 78,490 121,272 98 459 (3) 4,318,950 Total commercial and industrial 10,302,810 230,679 221,930 13,428 3,283 10,772,130 Home equity lines 1,666,586 — 20,456 1,206 1,666 (3) 1,689,914 Consumer mortgages 1,910,649 — 26,041 1,700 293 (3) 1,938,683 Credit cards 239,405 — 480 — 966 (4) 240,851 Other retail loans 418,929 — 4,315 — 74 (3) 423,318 Total retail 4,235,569 — 51,292 2,906 2,999 4,292,766 Total loans $ 21,531,712 455,917 441,853 23,900 6,282 22,459,664 (6 ) (1) Includes $270.1 million and $303.7 million of Substandard accruing loans at June 30, 2016 and December 31, 2015 , 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 $27.6 million . (6) Total before net deferred fees and costs of $30.1 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, 2016 and 2015 . Allowance for Loan Losses and Recorded Investment in Loans 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)(2) $ 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 As of and For The Six Months Ended June 30, 2015 (in thousands) Commercial Real Estate Commercial & Industrial Retail Total Allowance for loan losses: Beginning balance $ 101,471 118,110 41,736 261,317 Charge-offs (10,397 ) (9,074 ) (11,757 ) (31,228 ) Recoveries 6,481 3,570 3,528 13,579 Provision for loan losses (6,864 ) 10,444 7,454 11,034 Ending balance (1) $ 90,691 123,050 40,961 254,702 Ending balance: individually evaluated for impairment 17,197 10,292 1,092 28,581 Ending balance: collectively evaluated for impairment $ 73,494 112,758 39,869 226,121 Loans: Ending balance: total loans (1)(3) $ 7,071,595 10,404,527 4,047,868 21,523,990 Ending balance: individually evaluated for impairment 193,230 112,491 41,013 346,734 Ending balance: collectively evaluated for impairment $ 6,878,365 10,292,036 4,006,855 21,177,256 (1) As of and for the six months ended June 30, 2016 and 2015, 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 $27.6 million . (3) Total before net deferred fees and costs of $29.1 million . Allowance for Loan Losses and Recorded Investment in Loans As of and For The Three Months Ended June 30, 2016 (in thousands) Commercial Real Estate Commercial & Industrial Retail 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)(2) $ 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 As of and For The Three Months Ended June 30, 2015 (in thousands) Commercial Real Estate Commercial & Industrial Retail Total Allowance for loan losses: Beginning balance $ 94,208 117,806 41,357 253,371 Charge-offs (2,957 ) (3,802 ) (3,845 ) (10,604 ) Recoveries 2,540 1,305 1,454 5,299 Provision for loan losses (3,100 ) 7,741 1,995 6,636 Ending balance (1) $ 90,691 123,050 40,961 254,702 Ending balance: individually evaluated for impairment 17,197 10,292 1,092 28,581 Ending balance: collectively evaluated for impairment $ 73,494 112,758 39,869 226,121 Loans: Ending balance: total loans (1)(3) 7,071,595 10,404,527 4,047,868 21,523,990 Ending balance: individually evaluated for impairment 193,230 112,491 41,013 346,734 Ending balance: collectively evaluated for impairment $ 6,878,365 10,292,036 4,006,855 21,177,256 (1) As of and for the three months ended June 30, 2016 and 2015, 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 $27.6 million . (3) Total before net deferred fees and costs of $29.1 million . The tables below summarize impaired loans (including accruing TDRs) as of June 30, 2016 and December 31, 2015 . Impaired Loans (including accruing TDRs) June 30, 2016 Six Months Ended Three Months Ended (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 $ 4,249 4,275 — 8,772 — 8,185 — 1-4 family properties 1,219 5,243 — 1,417 — 1,329 — Land acquisition 2,650 7,109 — 4,431 — 2,857 — Total commercial real estate 8,118 16,627 — 14,620 — 12,371 — Commercial, financial and agricultural 5,434 7,585 — 5,738 — 5,761 — Owner-occupied 8,023 9,019 — 8,661 — 8,753 — Total commercial and industrial 13,457 16,604 — 14,399 — 14,514 — Home equity lines 1,043 1,043 — 1,039 — 1,043 — Consumer mortgages 814 2,065 — 814 — 814 — Credit cards — — — — — — — Other retail loans — — — — — — — Total retail 1,857 3,108 — 1,853 — 1,857 — Total impaired loans with no related allowance recorded $ 23,432 36,339 — 30,872 — 28,742 — With allowance recorded Investment properties $ 39,590 39,593 4,356 49,244 1,022 40,474 366 1-4 family properties 50,946 50,985 7,466 49,705 461 49,975 344 Land acquisition 14,300 14,301 693 19,715 223 16,342 95 Total commercial real estate 104,836 104,879 12,515 118,664 1,706 106,791 805 Commercial, financial and agricultural 53,621 55,850 12,634 54,517 517 59,487 328 Owner-occupied 52,727 52,948 1,587 50,379 927 51,355 483 Total commercial and industrial 106,348 108,798 14,221 104,896 1,444 110,842 811 Home equity lines 9,019 9,019 134 9,410 512 9,201 250 Consumer mortgages 20,939 20,939 1,179 21,480 224 21,138 109 Credit cards — — — — — — — Other retail loans 5,973 5,975 378 4,935 143 5,190 71 Total retail 35,931 35,933 1,691 35,825 879 35,529 430 Total impaired loans with allowance recorded $ 247,115 249,610 28,427 259,385 4,029 253,162 2,046 Total impaired loans Investment properties $ 43,839 43,868 4,356 58,016 1,022 48,659 366 1-4 family properties 52,165 56,228 7,466 51,122 461 51,304 344 Land acquisition 16,950 21,410 693 24,146 223 19,199 95 Total commercial real estate 112,954 121,506 12,515 133,284 1,706 119,162 805 Commercial, financial and agricultural 59,055 63,435 12,634 60,255 517 65,248 328 Owner-occupied 60,750 61,967 1,587 59,040 927 60,108 483 Total commercial and industrial 119,805 125,402 14,221 119,295 1,444 125,356 811 Home equity lines 10,062 10,062 134 10,449 512 10,244 250 Consumer mortgages 21,753 23,004 1,179 22,294 224 21,952 109 Credit cards — — — — — — — Other retail loans 5,973 5,975 378 4,935 143 5,190 71 Total retail 37,788 39,041 1,691 37,678 879 37,386 430 Total impaired loans $ 270,547 285,949 28,427 290,257 4,029 281,904 2,046 Impaired Loans (including accruing TDRs) December 31, 2015 Year Ended December 31, 2015 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded Investment properties $ 10,051 12,946 — 11,625 — 1-4 family properties 1,507 5,526 — 2,546 — Land acquisition 8,551 39,053 — 13,897 — Total commercial real estate 20,109 57,525 — 28,068 — Commercial, financial and agricultural 4,393 7,606 — 5,737 — Owner-occupied 8,762 11,210 — 14,657 — Total commercial and industrial 13,155 18,816 — 20,394 — Home equity lines 1,030 1,030 — 573 — Consumer mortgages 814 941 — 995 — Credit cards — — — — — Other retail loans — — — — — Total retail 1,844 1,971 — 1,568 — Total impaired loans with no related allowance recorded $ 35,108 78,312 — 50,030 — With allowance recorded Investment properties $ 62,305 62,305 10,070 73,211 2,131 1-4 family properties 51,376 51,376 6,184 61,690 1,618 Land acquisition 24,168 24,738 2,715 34,793 936 Total commercial real estate 137,849 138,419 18,969 169,694 4,685 Commercial, financial and agricultural 42,914 44,374 8,339 43,740 1,125 Owner-occupied 49,530 49,688 2,138 55,323 1,814 Total commercial and industrial 92,444 94,062 10,477 99,063 2,939 Home equity lines 9,575 9,575 206 8,318 346 Consumer mortgages 22,173 23,297 651 26,044 1,229 Credit cards — — — — — Other retail loans 4,651 4,651 132 5,105 323 Total retail 36,399 37,523 989 39,467 1,898 Total impaired loans with allowance recorded $ 266,692 270,004 30,435 308,224 9,522 Total impaired loans Investment properties $ 72,356 75,251 10,070 84,836 2,131 1-4 family properties 52,883 56,902 6,184 64,236 1,618 Land acquisition 32,719 63,791 2,715 48,690 936 Total commercial real estate 157,958 195,944 18,969 197,762 4,685 Commercial, financial and agricultural 47,307 51,980 8,339 49,477 1,125 Owner-occupied 58,292 60,898 2,138 69,980 1,814 Total commercial and industrial 105,599 112,878 10,477 119,457 2,939 Home equity lines 10,605 10,605 206 8,891 346 Consumer mortgages 22,987 24,238 651 27,039 1,229 Credit cards — — — — — Other retail loans 4,651 4,651 132 5,105 323 Total retail 38,243 39,494 989 41,035 1,898 Total impaired loans $ 301,800 348,316 30,435 358,254 9,522 The average recorded investment in impaired loans was $401.5 million and $375.5 million for the six and three months ended June 30, 2015 . Excluding accruing TDRs, there was no interest income recognized for the investment in impaired loans for the six and three months ended June 30, 2015 . Interest income recognized for accruing TDRs was $5.1 million and $2.5 million for the six and three months ended June 30, 2015 . At June 30, 2016 and December 31, 2015 , impaired loans of $65.4 million and $77.9 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, 2016 and 2015 that were reported as accruing or non-accruing TDRs. 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 (1 ) 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 acquisition 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 retail loans 10 — 94 1,449 1,543 Total retail 14 — 322 1,500 1,822 Total TDRs 49 $ — 7,872 4,118 11,990 (2 ) (1) No net charge-offs were recorded during the six months ended June 30, 2016 upon restructuring of these loans. (2) No net charge-offs were recorded during the three months ended June 30, 2016 upon restructuring of these loans. TDRs by Concession Type Six Months Ended June 30, 2015 (in thousands, except contract data) Number of Contracts Principal Forgiveness Below Market Interest Rate Term Extensions and/or Other Concessions Total Investment properties 4 $ — 16,932 3,815 20,747 1-4 family properties 21 14,823 3,358 879 19,060 Land acquisition 6 — 604 819 1,423 Total commercial real estate 31 14,823 20,894 5,513 41,230 Commercial, financial and agricultural 49 — 1,580 3,844 5,424 Owner-occupied 3 — 1,739 416 2,155 Total commercial and industrial 52 — 3,319 4,260 7,579 Home equity lines 48 — 2,517 2,148 4,665 Consumer mortgages 12 — 510 786 1,296 Credit cards — — — — — Other retail loans 13 — 257 495 752 Total retail 73 — 3,284 3,429 6,713 Total TDRs 156 $ 14,823 27,497 13,202 55,522 (3 ) Three Months Ended June 30, 2015 (in thousands, except contract data) Number of Contracts Principal Forgiveness Below Market Interest Rate Term Extensions and/or Other Concessions Total Investment properties 1 $ — — 211 211 1-4 family properties 8 — 502 729 1,231 Land acquisition 3 — 349 111 460 Total commercial real estate 12 — 851 1,051 1,902 Commercial, financial and agricultural 24 — 565 1,954 2,519 Owner-occupied 1 — — 416 416 Total commercial and industrial 25 — 565 2,370 2,935 Home equity lines 37 — 1,542 2,013 3,555 Consumer mortgages 1 — 265 — 265 Credit cards — — — — — Other retail loans 7 — — 431 431 Total retail 45 — 1,807 2,444 4,251 Total TDRs 82 $ — 3,223 5,865 9,088 (4 ) (3) Net charge-offs of $4.0 million were recorded during the six months ended June 30, 2015 upon restructuring of these loans. (4) No net charge-offs were recorded during the three months ended June 30, 2015 upon restructuring of these loans. For both the six and three months ended June 30, 2016 , there was one default with a recorded investment of $92 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 two defaults with a recorded investment of $115 thousand and no defaults, respectively, for the six and three months ended June 30, 2015 . 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 changes from a general pool-level reserve to a 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, 2016 , the allowance for loan losses allocated to accruing TDRs totaling $205.2 million was $12.7 million compared to accruing TDRs of $223.9 million with an allocated allowance for loan losses of $12.6 million at December 31, 2015 . 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, 2016 | |
Equity [Abstract] | |
Other Comprehensive Income (Loss) | Note 6 - 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, 2016 and 2015 . 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 before reclassifications — 11,712 — 11,712 Amounts reclassified from accumulated other comprehensive income (loss) 39 — (6 ) 33 Net current period other comprehensive income 39 11,712 (6 ) 11,745 Balance as of June 30, 2016 $ (12,297 ) 22,459 843 11,005 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, 2014 $ (12,824 ) (713 ) 932 (12,605 ) Other comprehensive income before reclassifications — (8,279 ) 143 (8,136 ) Amounts reclassified from accumulated other comprehensive income (loss) 137 (1,667 ) (52 ) (1,582 ) Net current period other comprehensive income 137 (9,946 ) 91 (9,718 ) Balance as of June 30, 2015 $ (12,687 ) (10,659 ) 1,023 (22,323 ) Balance as of April 1, 2015 $ (12,755 ) 8,198 906 (3,651 ) Other comprehensive income (loss) before reclassifications — (17,636 ) 143 (17,493 ) Amounts reclassified from accumulated other comprehensive income (loss) 68 (1,221 ) (26 ) (1,179 ) Net current period other comprehensive income (loss) 68 (18,857 ) 117 (18,672 ) Balance as of June 30, 2015 $ (12,687 ) (10,659 ) 1,023 (22,323 ) 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, 2016 , 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, 2016 2015 Net unrealized gains (losses) on cash flow hedges: Amortization of deferred losses $ (140 ) (224 ) Interest expense Amortization of deferred losses (197 ) — Loss on early extinguishment of debt 130 87 Income tax (expense) benefit $ (207 ) (137 ) Reclassifications, net of income taxes Net unrealized gains (losses) on investment securities available for sale: Realized gain on sale of securities $ 67 2,710 Investment securities gains, net (26 ) (1,043 ) Income tax (expense) benefit $ 41 1,667 Reclassifications, net of income taxes Post-retirement unfunded health benefit: Amortization of actuarial gains $ 104 84 Salaries and other personnel expense (40 ) (32 ) Income tax (expense) benefit $ 64 52 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, 2016 2015 Net unrealized gains (losses) on cash flow hedges: Amortization of deferred losses $ (64 ) (112 ) Interest expense 25 44 Income tax (expense) benefit $ (39 ) (68 ) Reclassifications, net of income taxes Net unrealized gains (losses) on investment securities available for sale: Realized gain on sale of securities $ — 1,985 Investment securities gains, net — (764 ) Income tax (expense) benefit $ — 1,221 Reclassifications, net of income taxes Post-retirement unfunded health benefit: Amortization of actuarial gains $ 10 42 Salaries and other personnel expense (4 ) (16 ) Income tax (expense) benefit $ 6 26 Reclassifications, net of income taxes |
Fair Value Accounting
Fair Value Accounting | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Accounting | Note 7 - 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. Certain private equity investments that invest in publicly traded companies are also considered Level 2 assets. 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, and private equity investments. See Note 14 "Fair Value Accounting" to the consolidated financial statements of Synovus' 2015 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, 2016 and December 31, 2015 , 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, 2016 and year ended December 31, 2015 were inconsequential. June 30, 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 — 798 — 798 Collateralized mortgage obligations issued by U.S. Government sponsored enterprises — 11 — 11 Other U.S. Government agencies 177 177 State and municipal securities — 15 — 15 Total trading securities $ — 1,001 — 1,001 Mortgage loans held for sale — 87,824 — 87,824 Investment securities available for sale: U.S. Treasury securities 74,823 — — 74,823 U.S. Government agency securities — 13,449 — 13,449 Securities issued by U.S. Government sponsored enterprises — 50,117 — 50,117 Mortgage-backed securities issued by U.S. Government agencies — 192,783 — 192,783 Mortgage-backed securities issued by U.S. Government sponsored enterprises — 2,581,669 — 2,581,669 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — 635,614 — 635,614 State and municipal securities — 3,046 — 3,046 Equity securities 8,731 — — 8,731 Other investments (1) 3,169 15,333 1,625 20,127 Total investment securities available for sale $ 86,723 3,492,011 1,625 3,580,359 Private equity investments — 658 26,866 27,524 Mutual funds held in rabbi trusts 11,141 — — 11,141 Derivative assets: Interest rate contracts — 36,804 — 36,804 Mortgage derivatives (2) — 2,541 — 2,541 Total derivative assets $ — 39,345 — 39,345 Liabilities Trading account liabilities — 789 — 789 Derivative liabilities: Interest rate contracts — 37,221 — 37,221 Mortgage derivatives (2) — 1,467 — 1,467 Visa derivative — — 1,415 1,415 Total derivative liabilities $ — 38,688 1,415 40,103 December 31, 2015 (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 — 2,922 — 2,922 Collateralized mortgage obligations issued by U.S. Government sponsored enterprises — 1,078 — 1,078 State and municipal securities — 1,097 — 1,097 Total trading securities $ — 5,097 — 5,097 Mortgage loans held for sale — 59,275 — 59,275 Investment securities available for sale: U.S. Treasury securities 43,357 — — 43,357 U.S. Government agency securities — 13,623 — 13,623 Securities issued by U.S. Government sponsored enterprises — 126,909 — 126,909 Mortgage-backed securities issued by U.S. Government agencies — 210,004 — 210,004 Mortgage-backed securities issued by U.S. Government sponsored enterprises — 2,630,419 — 2,630,419 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — 529,597 — 529,597 State and municipal securities — 4,434 — 4,434 Equity securities 9,672 — — 9,672 Other investments (1) 3,073 14,985 1,745 19,803 Total investment securities available for sale $ 56,102 3,529,971 1,745 3,587,818 Private equity investments — 870 27,148 28,018 Mutual funds held in rabbi trusts 10,664 — — 10,664 Derivative assets: Interest rate contracts — 25,580 — 25,580 Mortgage derivatives (2) — 1,559 — 1,559 Total derivative assets $ — 27,139 — 27,139 Liabilities Trading account liabilities — 1,032 — 1,032 Derivative liabilities: Interest rate contracts — 26,030 — 26,030 Visa derivative — — 1,415 1,415 Total derivative liabilities $ — 26,030 1,415 27,445 (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. 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 were 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) 2016 2015 2016 2015 Mortgage loans held for sale $ 1,850 (563 ) $ 878 (973 ) Mortgage Loans Held for Sale (in thousands) As of June 30, 2016 As of December 31, 2015 Fair value $ 87,824 59,275 Unpaid principal balance 84,877 58,177 Fair value less aggregate unpaid principal balance $ 2,947 1,098 Changes in Level 3 Fair Value Measurements and Quantitative Information about Level 3 Fair Value Measurements As noted above, Synovus uses significant unobservable inputs (Level 3) 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 sheet for the six and three months ended June 30, 2016 and 2015 (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, 2016 and 2015 , Synovus did not have any transfers between levels in the fair value hierarchy. Six Months Ended June 30, 2016 2015 (in thousands) Investment Securities Available for Sale Private Equity Investments Visa Derivative Investment Securities Available for Sale Private Equity Investments Visa Derivative Beginning balance, January 1, $ 1,745 27,148 (1,415 ) 1,645 27,367 (1,401 ) Total gains (losses) realized/unrealized: Included in earnings — (278 ) (720 ) — (408 ) (729 ) Unrealized gains (losses) included in other comprehensive income (120 ) — — 55 — — Purchases — — — — — — Sales — — — — — — Issuances — — — — — — Settlements — (4 ) 720 — — 715 Amortization of discount/premium — — — — — — Transfers in and/or out of Level 3 — — — — — — Ending balance, June 30, $ 1,625 26,866 (1,415 ) 1,700 26,959 (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 ) — (408 ) (729 ) Three Months Ended June 30, 2016 2015 (in thousands) Investment Securities Available for Sale Private Equity Investments Visa Derivative Investment Securities Available for Sale Private Equity Investments Visa Derivative Beginning balance, April 1, $ 1,638 26,757 (1,415 ) 1,654 27,081 (1,425 ) Total gains (losses) realized/unrealized: Included in earnings — 113 (360 ) — (122 ) (354 ) Unrealized gains (losses) included in other comprehensive income (13 ) — — 46 — — Settlements — (4 ) 360 — — 364 Ending balance, June 30, $ 1,625 26,866 (1,415 ) 1,700 26,959 (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 ) — (122 ) (354 ) 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. 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, 2016 December 31, 2015 Valuation Technique Significant Unobservable Input Range (Weighted Average) (1) Range (Weighted Average) (1) Assets 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 530 bps 477 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 marketability (2) 15% 15% Visa derivative liability Internal valuation Estimated future cumulative deposits to the litigation escrow for settlement of the Covered Litigation, and estimated future monthly fees payable to the derivative counterparty N/A N/A (1) The range represents management's best estimate of the high and low of the value that would be assigned to a particular input. (2) 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, 2016 December 31, 2015 (in thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Impaired loans * $ — — 3,680 3,680 — — 11,264 11,264 Other loans held for sale — — — — — — 425 425 Other real estate — — 13,082 13,082 — — 23,519 23,519 Other assets held for sale $ — — 8,043 8,043 — — 3,425 3,425 The following table presents fair value adjustments recognized in earnings for the six and three months ended June 30, 2016 and 2015 for the assets measured at fair value on a non-recurring basis. Six Months Ended June 30, Three Months Ended June 30, (in thousands) 2016 2015 2016 2015 Impaired loans * $ 1,162 1,792 — 1,546 Other real estate 3,306 8,962 2,053 4,714 Other assets held for sale 6,625 — 5,593 — * Collateral-dependent impaired loans that were written down to collateral 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, 2016 December 31, 2015 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% - 83% (32%) 0% - 10% (7%) 0%-100% (51%) 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 0%-11% (7%) 0%-10% (7%) Other real estate Third-party appraised value of collateral less estimated selling costs Discount to appraised value (2) Estimated selling costs 0% - 32% (13%) 0% - 10% (7%) 0%-20% (7%) 0%-10% (7%) Other assets held for sale Third-party appraised value of collateral less estimated selling costs or BOV Discount to appraised value (2) Estimated selling costs 0%-86% (65%) 0%-10% (7%) 0%-75% (42%) 0%-10% (7%) (1) The range represents management's best 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 various reasons, including age of the appraisal, information known by management about the property, such as occupancy rates, changes to the physical conditions 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, 2016 and December 31, 2015 . The fair value represents management’s best estimates based on a range of methodologies and assumptions. For financial instruments that are not recorded at fair value on the balance sheet, such as loans, 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, 2016 and December 31, 2015 are as follows: June 30, 2016 (in thousands) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 377,334 377,334 377,334 — — Interest bearing funds with Federal Reserve Bank 904,406 904,406 904,406 — — Interest earning deposits with banks 24,541 24,541 24,541 — — Federal funds sold and securities purchased under resale agreements 77,685 77,685 77,685 — — Trading account assets 1,001 1,001 — 1,001 — Mortgage loans held for sale 87,824 87,824 — 87,824 — Investment securities available for sale 3,580,359 3,580,359 86,723 3,492,011 1,625 Private equity investments 27,524 27,524 — 658 26,866 Mutual funds held in rabbi trusts 11,141 11,141 11,141 — — Loans, net of deferred fees and costs 23,060,908 22,873,602 — — 22,873,602 Derivative assets 39,345 39,345 — 39,345 — Financial liabilities Trading account liabilities 789 789 — 789 — Non-interest bearing deposits 6,934,443 6,934,443 — 6,934,443 — Interest bearing deposits 16,991,479 16,999,970 — 16,999,970 — Federal funds purchased and securities sold under repurchase agreements 247,179 247,179 247,179 — — Long-term debt 2,135,892 2,203,518 — 2,203,518 — Derivative liabilities $ 40,103 40,103 — 38,688 1,415 December 31, 2015 (in thousands) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 367,092 367,092 367,092 — — Interest bearing funds with Federal Reserve Bank 829,887 829,887 829,887 — — Interest earning deposits with banks 17,387 17,387 17,387 — — Federal funds sold and securities purchased under resale agreements 69,819 69,819 69,819 — — Trading account assets 5,097 5,097 5,097 — Mortgage loans held for sale 59,275 59,275 59,275 — Other loans held for sale 425 425 — — 425 Investment securities available for sale 3,587,818 3,587,818 56,102 3,529,971 1,745 Private equity investments 28,018 28,018 — 870 27,148 Mutual funds held in rabbi trusts 10,664 10,664 10,664 — — Loans, net of deferred fees and costs 22,429,565 22,192,903 — — 22,192,903 Derivative assets 27,139 27,139 — 27,139 — Financial liabilities Trading account liabilities 1,032 1,032 — 1,032 — Non-interest bearing deposits 6,732,970 6,732,970 — 6,732,970 — Interest bearing deposits 16,509,691 16,516,222 — 16,516,222 — Federal funds purchased and securities sold under repurchase agreements 177,025 177,025 177,025 — — Long-term debt 2,186,893 2,244,376 — 2,244,376 — Derivative liabilities $ 27,445 27,445 — 26,030 1,415 |
Derivative Instruments
Derivative Instruments | 6 Months Ended |
Jun. 30, 2016 | |
Summary of Derivative Instruments [Abstract] | |
Derivative Instruments | Note 8 - 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, 2016 and December 31, 2015, 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 periodic detailed financial reviews. 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, 2016 , there were no cash flow hedges outstanding. Synovus did not terminate any cash flow hedges during 2016 or 2015 . The remaining unamortized deferred net loss balance of all previously terminated cash flow hedges at June 30, 2016 and December 31, 2015 was $(260) thousand and $(597) thousand , respectively. Synovus expects to reclassify from accumulated other comprehensive income (loss) $260 thousand to interest expense during the next twelve months as amortization of deferred losses from prior period cash flow hedge terminations is recognized. Additionally, Synovus recognized $197 thousand of the deferred loss balance to loss on early extinguishment of debt during the first quarter of 2016. Fair Value Hedges As of June 30, 2016 , there were no fair value hedges outstanding. Synovus did not terminate any fair value hedges during 2016 or 2015 . The remaining unamortized deferred gain balance on all previously terminated fair value hedges at June 30, 2016 and December 31, 2015 was $1.7 million and $4.0 million , respectively. Synovus expects to reclassify from hedge-related basis adjustment, a component of long-term debt, $1.7 million of the deferred gain balance on previously terminated fair value hedges as a reduction to interest expense during the next twelve months as amortization of deferred gains is recorded. Additionally, Synovus recorded $1.3 million of the unamortized deferred gain balance to loss on early extinguishment of debt during the first quarter of 2016. 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 third-party financial institutions. The interest rate swap agreements are free-standing derivatives and are recorded at fair value on Synovus' consolidated balance sheet. Fair value changes are recorded in non-interest income in Synovus' consolidated statements of income. As of June 30, 2016 , the notional amount of customer related interest rate derivative financial instruments, including both the customer position and the offsetting position, was $1.28 billion , an increase of $6.9 million compared to December 31, 2015 . 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 $1.4 million at both June 30, 2016 and December 31, 2015. 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. 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, 2016 and December 31, 2015 , Synovus had commitments to fund at a locked interest rate, primarily fixed-rate mortgage loans to customers in the amount of $ 108.9 million and $88.8 million , respectively. The fair value of these commitments resulted in a gain of $1.2 million and $266 thousand for the six months ended June 30, 2016 and 2015 , respectively, which was recorded as a component of mortgage banking income in the consolidated statements of income. At June 30, 2016 and December 31, 2015 , outstanding commitments to sell primarily fixed-rate mortgage loans amounted to $135.0 million and $95.0 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 $1.6 million and a gain of $2.0 million for the six months ended June 30, 2016 and 2015 , respectively, which were recorded as a component of mortgage banking income in the consolidated statements of income. Collateral Contingencies Certain derivative counterparties require Synovus to maintain specified minimum credit ratings from each of the major credit rating agencies. Should Synovus’ credit rating fall below these specified ratings, the counterparties have the contractual right to demand immediate and ongoing full collateralization on derivative instruments in net liability positions and, for certain counterparties, request immediate termination. Certain of these agreements currently require Synovus to post collateral against specific derivative positions. Additionally, as of June 10, 2013, the CCC became mandatory for certain trades as required under the Dodd-Frank Act. These derivative transactions also carry collateral requirements, both at the inception of the trade, and as the value of each derivative position changes. As trades are migrated to the CCC, dealer counterparty exposure will be reduced, and higher notional amounts of Synovus' derivative instruments will be housed at the CCC, a highly regulated and well-capitalized entity. As of June 30, 2016 , collateral totaling $75.2 million , consisting of Federal funds sold, was pledged to the derivative counterparties, including $22.9 million with the CCC, to comply with collateral requirements. The impact of derivative instruments on the consolidated balance sheets at June 30, 2016 and December 31, 2015 is presented below. Fair Value of Derivative Assets Fair Value of Derivative Liabilities (in thousands) Location on Consolidated Balance Sheet June 30, 2016 December 31, 2015 Location on Consolidated Balance Sheet June 30, 2016 December 31, 2015 Derivatives not designated as hedging instruments: Interest rate contracts Other assets $ 36,804 25,580 Other liabilities 37,221 26,030 Mortgage derivatives Other assets 2,541 1,559 Other liabilities 1,467 — Visa derivative — — Other liabilities 1,415 1,415 Total derivatives not designated as hedging instruments $ 39,345 27,139 40,103 27,445 The pre-tax effect of fair value hedges on the consolidated statements of income for the six and three months ended June 30, 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 2016 2015 Interest rate contracts (1) Other non-interest income 33 (124 ) Mortgage derivatives (2) Mortgage banking income (485 ) 2,231 Total $ (452 ) 2,107 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 2016 2015 Interest rate contracts (1) Other non-interest income 27 55 Mortgage derivatives (2) Mortgage banking income (335 ) 1,128 Total $ (308 ) 1,183 (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, 2016 and 2015 , Synovus reclassified $950 thousand and $1.5 million , respectively, from hedge-related basis adjustment, a component of long-term debt, as a reduction to interest expense. Additionally, 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. These deferred gains relate to hedging relationships that have been previously terminated and are reclassified into earnings over the remaining life of the hedged items. |
Net Income Per Common Share
Net Income Per Common Share | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Net Income Per Common Share | Note 9 - 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, 2016 . Six Months Ended June 30, Three Months Ended June 30, (in thousands, except per share data) 2016 2015 2016 2015 Basic Net Income Per Common Share: Net income available to common shareholders $ 107,870 104,637 $ 57,898 53,233 Weighted average common shares outstanding 126,164 133,935 125,100 132,947 Net income per common share, basic $ 0.85 0.78 0.46 0.40 Diluted Net Income Per Common Share: Net income available to common shareholders $ 107,870 104,637 $ 57,898 53,233 Weighted average common shares outstanding 126,164 133,935 125,100 132,947 Potentially dilutive shares from outstanding equity-based awards 614 743 599 678 Weighted average diluted common shares 126,778 134,678 125,699 133,625 Net income per common share, diluted $ 0.85 0.78 0.46 0.40 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, 2016 and 2015 , there were 2.5 million and 2.7 million , respectively, potentially dilutive shares related to common stock options and Warrants to purchase shares of common stock that were outstanding during 2016 and 2015 , 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, 2016 | |
Share-based Compensation [Abstract] | |
Share-based Compensation | Note 10 - 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, 2016 , Synovus had a total of 6.2 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, 2016 , respectively, and $6.3 million and $3.0 million for the six and three months ended June 30, 2015 , respectively. Stock Options No stock option grants were made during the six months ended June 30, 2016 . At June 30, 2016 , there were 1.5 million outstanding options to purchase shares of common stock with a weighted average exercise price of $34.10 per share. Restricted Share Units, Performance Share Units, and Market Restricted Share Units During the six months ended June 30, 2016 , Synovus awarded 342 thousand restricted share units that have a service-based vesting period of three years and awarded 84 thousand performance share units that vest upon service and performance conditions. Synovus also granted 84 thousand market restricted share units during the six months ended June 30, 2016 . The weighted average grant-date fair value of the awarded restricted share units, performance share units and market restricted share units was $26.22 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, 2016 , including dividend equivalents granted, there were 1.1 million restricted share units, performance share units and market restricted share units outstanding with a weighted average grant-date fair value of $26.30 per share. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 11 - 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. The carrying amount of loan commitments and letters of credit closely approximates the fair value of such financial instruments. Carrying amounts include unamortized fee income and, in some instances, allowances for any estimated credit losses from these financial instruments. These amounts are not material to Synovus' consolidated balance sheets. Unfunded lending commitments and letters of credit at June 30, 2016 and December 31, 2015 are presented below. (in thousands) June 30, 2016 December 31, 2015 Letters of credit* $ 182,327 166,936 Commitments to fund commercial real estate, construction, and land development loans 1,696,990 1,882,130 Unused credit card lines 1,078,166 1,055,181 Commitments under home equity lines of credit 1,089,537 1,051,386 Commitments to fund commercial and industrial loans 4,169,140 4,094,809 Other loan commitments 417,431 284,706 Total unfunded lending commitments and letters of credit $ 8,633,591 8,535,148 * Represents the contractual amount net of risk participations of $62 million and $66 million at June 30, 2016 and December 31, 2015, respectively. |
Legal Proceedings
Legal Proceedings | 6 Months Ended |
Jun. 30, 2016 | |
Legal Proceedings Disclosure [Abstract] | |
Legal Proceedings | Note 12 - Legal Proceedings Synovus and its subsidiaries are subject to various legal proceedings, claims and disputes 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 legal actions and other proceedings asserting claims for damages and related relief for losses. These actions include mortgage loan and other loan put-back claims, 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 such asserted legal actions, credit-related litigation could result in additional write-downs or charge-offs of assets, 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, 2016 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, including those legal matters described below, 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 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 that the aggregate range from our pending and threatened litigation, including, without limitation, the matters described below, 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, reputational risk and distraction of defending such legal matters. Synovus also maintains insurance coverage, which may (or may not) be available to cover legal fees, or potential losses that might be incurred in connection with the legal matters described below. 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. TelexFree Litigation On October 22, 2014, several pending lawsuits were consolidated into a multi-district putative class action case captioned In re: TelexFree Securities Litigation, MDL Number 4:14-md2566-TSH, United States District Court District of Massachusetts. Synovus Financial Corp. and Synovus Bank were named as defendants with numerous other defendants in the purported class action lawsuit. An Amended Complaint was filed on March 31, 2015 which consolidated and amended the claims previously asserted. The claims against Synovus Financial Corp. were dismissed by Plaintiffs on April 10, 2015 so now, as to Synovus-related entities, only claims against Synovus Bank remain pending. TelexFree was a merchant customer of Base Commerce, LLC, an independent sales organization/member service provider sponsored by Synovus Bank. The purported class action lawsuit generally alleges that TelexFree engaged in an improper multi-tier marketing scheme involving voice-over Internet protocol telephone services and that the various defendants, including Synovus Bank, provided financial services to TelexFree that allowed TelexFree to conduct its business operations. Synovus Bank filed a motion to dismiss the lawsuit on June 1, 2015, which remains pending before the court. Synovus believes it has substantial defenses related to these purported claims and intends to vigorously defend the claims asserted. Synovus currently cannot reasonably estimate losses attributable to this matter. |
Significant Accounting Polici21
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2016 | |
Significant 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' 2015 Form 10-K. There have been no significant changes to the accounting policies as disclosed in Synovus' 2015 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 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis , which became effective for Synovus on January 1, 2016. ASU 2015-02 was issued by the FASB to modify the analysis that companies must perform in order to determine whether a legal entity should be consolidated. ASU 2015-02 simplifies current consolidation rules by reducing the number of consolidation models; placing more emphasis on risk of loss when determining a controlling financial interest; reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a VIE; and changing consolidation conclusions for public and private companies in several industries that typically make use of limited partnerships or VIEs. Adoption of ASU 2015-02 did not have an impact on Synovus’ consolidated financial statements. |
Reclassifications | Prior periods' consolidated financial statements are reclassified whenever necessary to conform to the current periods' presentation. |
Subsequent Events | Synovus has evaluated for consideration, or disclosure, all transactions, events, and circumstances, subsequent to the date of the consolidated balance sheet and through the date the accompanying unaudited interim consolidated financial statements were issued, and has reflected, or disclosed, those items deemed appropriate within the unaudited interim consolidated financial statements. |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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, 2016 and December 31, 2015 are summarized below. June 30, 2016 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 73,741 1,082 — 74,823 U.S. Government agency securities 13,006 443 — 13,449 Securities issued by U.S. Government sponsored enterprises 50,063 54 — 50,117 Mortgage-backed securities issued by U.S. Government agencies 189,281 3,583 (81 ) 192,783 Mortgage-backed securities issued by U.S. Government sponsored enterprises 2,544,204 37,817 (352 ) 2,581,669 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 625,458 10,298 (142 ) 635,614 State and municipal securities 3,000 47 (1 ) 3,046 Equity securities 3,228 5,503 — 8,731 Other investments 20,210 333 (416 ) 20,127 Total investment securities available for sale $ 3,522,191 59,160 (992 ) 3,580,359 December 31, 2015 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 43,125 232 — 43,357 U.S. Government agency securities 13,087 536 — 13,623 Securities issued by U.S. Government sponsored enterprises 126,520 389 — 126,909 Mortgage-backed securities issued by U.S. Government agencies 209,785 1,340 (1,121 ) 210,004 Mortgage-backed securities issued by U.S. Government sponsored enterprises 2,645,107 7,874 (22,562 ) 2,630,419 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 530,426 2,396 (3,225 ) 529,597 State and municipal securities 4,343 92 (1 ) 4,434 Equity securities 3,228 6,444 — 9,672 Other investments 20,177 — (374 ) 19,803 Total investment securities available for sale $ 3,595,798 19,303 (27,283 ) 3,587,818 |
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, 2016 and December 31, 2015 , are presented below. June 30, 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 Mortgage-backed securities issued by U.S. Government agencies — — 9,785 81 9,785 81 Mortgage-backed securities issued by U.S. Government sponsored enterprises 170,365 352 — — 170,365 352 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — 27,827 142 27,827 142 State and municipal securities — — 53 1 53 1 Other investments — — 4,794 416 4,794 416 Total $ 170,365 352 42,459 640 212,824 992 December 31, 2015 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 Mortgage-backed securities issued by U.S. Government agencies 122,626 639 18,435 482 141,061 1,121 Mortgage-backed securities issued by U.S. Government sponsored enterprises 1,656,194 12,874 489,971 9,688 2,146,165 22,562 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 196,811 963 72,366 2,262 269,177 3,225 State and municipal securities — — 50 1 50 1 Other investments 14,985 15 4,818 359 19,803 374 Total $ 1,990,616 14,491 585,640 12,792 2,576,256 27,283 |
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, 2016 (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 $ 18,758 54,983 — — — 73,741 U.S. Government agency securities — 6,613 6,393 — — 13,006 Securities issued by U.S. Government sponsored enterprises 50,063 — — — — 50,063 Mortgage-backed securities issued by U.S. Government agencies — — 16,261 173,020 — 189,281 Mortgage-backed securities issued by U.S. Government sponsored enterprises — 454 1,254,247 1,289,503 — 2,544,204 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — — 625,458 — 625,458 State and municipal securities 184 350 — 2,466 — 3,000 Equity securities — — — — 3,228 3,228 Other investments — — 15,000 2,000 3,210 20,210 Total amortized cost $ 69,005 62,400 1,291,901 2,092,447 6,438 3,522,191 Fair Value U.S. Treasury securities $ 18,758 56,065 — — — 74,823 U.S. Government agency securities — 6,800 6,649 — — 13,449 Securities issued by U.S. Government sponsored enterprises 50,117 — — — — 50,117 Mortgage-backed securities issued by U.S. Government agencies — — 16,653 176,130 — 192,783 Mortgage-backed securities issued by U.S. Government sponsored enterprises — 469 1,269,397 1,311,803 — 2,581,669 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — — 635,614 — 635,614 State and municipal securities 184 350 — 2,512 — 3,046 Equity securities — — — — 8,731 8,731 Other investments — — 15,333 1,625 3,169 20,127 Total fair value $ 69,059 63,684 1,308,032 2,127,684 11,900 3,580,359 |
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 six and three months ended June 30, 2016 and 2015 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) 2016 2015 2016 2015 Proceeds from sales of investment securities available for sale $ 243,609 82,156 $ — 49,737 Gross realized gains 954 2,710 — 1,985 Gross realized losses (887 ) — — — Investment securities gains, net $ 67 2,710 $ — 1,985 |
Restructuring Charges (Tables)
Restructuring Charges (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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, 2016 and 2015 : (in thousands) Severance Charges Lease Termination Charges Total Balance at December 31, 2015 $ 1,930 4,687 6,617 Accruals for efficiency initiatives — 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 efficiency initiatives — (13 ) (13 ) Payments (940 ) (157 ) (1,097 ) Balance at June 30, 2016 $ 593 4,375 4,968 (in thousands) Severance Charges Lease Termination Charges Total Balance at December 31, 2014 $ 3,291 5,539 8,830 Accruals for efficiency initiatives — (4 ) (4 ) Payments (1,038 ) (411 ) (1,449 ) Balance at June 30, 2015 $ 2,253 5,124 7,377 Balance at April 1, 2015 2,770 5,318 8,088 Accruals for efficiency initiatives — (4 ) (4 ) Payments (517 ) (190 ) (707 ) Balance at June 30, 2015 $ 2,253 5,124 7,377 For the six and three months ended June 30, 2016 and 2015 , total restructuring charges consist of the following components: Six Months Ended June 30, Three Months Ended June 30, (in thousands) 2016 2015 2016 2015 Lease termination charges $ 31 (4 ) $ (13 ) (4 ) Asset impairment charges 6,866 — 5,821 — Loss (gain) on sale of assets held for sale, net 13 (157 ) 13 — Professional fees and other charges 71 59 20 9 Total restructuring charges, net $ 6,981 (102 ) $ 5,841 5 |
Loans and Allowance for Loan 24
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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, 2016 and December 31, 2015 . Current, Accruing Past Due, and Non-accrual Loans June 30, 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 $ 5,901,061 5,451 — 5,451 14,149 5,920,661 1-4 family properties 1,106,507 3,270 134 3,404 17,869 1,127,780 Land acquisition 448,740 2,698 206 2,904 7,610 459,254 Total commercial real estate 7,456,308 11,419 340 11,759 39,628 7,507,695 Commercial, financial and agricultural 6,526,947 10,025 4,042 14,067 55,821 6,596,835 Owner-occupied 4,331,804 9,673 — 9,673 17,118 4,358,595 Total commercial and industrial 10,858,751 19,698 4,042 23,740 72,939 10,955,430 Home equity lines 1,633,322 6,604 271 6,875 16,912 1,657,109 Consumer mortgages 2,103,106 7,113 — 7,113 21,895 2,132,114 Credit cards 233,118 1,610 1,306 2,916 — 236,034 Other retail loans 594,142 3,308 5 3,313 2,698 600,153 Total retail 4,563,688 18,635 1,582 20,217 41,505 4,625,410 Total loans $ 22,878,747 49,752 5,964 55,716 154,072 23,088,535 (1 ) December 31, 2015 (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 $ 5,726,307 2,284 — 2,284 23,040 5,751,631 1-4 family properties 1,105,914 6,300 103 6,403 16,839 1,129,156 Land acquisition 495,542 639 32 671 17,768 513,981 Total commercial real estate 7,327,763 9,223 135 9,358 57,647 7,394,768 Commercial, financial and agricultural 6,391,036 12,222 785 13,007 49,137 6,453,180 Owner-occupied 4,293,308 5,254 95 5,349 20,293 4,318,950 Total commercial and industrial 10,684,344 17,476 880 18,356 69,430 10,772,130 Home equity lines 1,667,552 5,882 — 5,882 16,480 1,689,914 Consumer mortgages 1,907,644 8,657 134 8,791 22,248 1,938,683 Credit cards 237,742 1,663 1,446 3,109 — 240,851 Other retail loans 418,337 2,390 26 2,416 2,565 423,318 Total retail 4,231,275 18,592 1,606 20,198 41,293 4,292,766 Total loans $ 22,243,382 45,291 2,621 47,912 168,370 22,459,664 (2 ) (1) Total before net deferred fees and costs of $27.6 million . (2) Total before net deferred fees and costs of $30.1 million . |
Loan Portfolio Credit Exposure | In the following tables, retail 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 retail 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 the associated senior lien with other financial institutions. Loan Portfolio Credit Exposure by Risk Grade June 30, 2016 (in thousands) Pass Special Mention Substandard (1) Doubtful (2) Loss Total Investment properties $ 5,788,229 86,101 46,331 — — 5,920,661 1-4 family properties 1,009,820 51,938 58,789 7,233 — 1,127,780 Land acquisition 387,082 52,062 19,784 326 — 459,254 Total commercial real estate 7,185,131 190,101 124,904 7,559 — 7,507,695 Commercial, financial and agricultural 6,317,597 163,494 105,107 10,400 237 (3) 6,596,835 Owner-occupied 4,160,662 81,636 114,409 1,420 468 (3) 4,358,595 Total commercial and industrial 10,478,259 245,130 219,516 11,820 705 10,955,430 Home equity lines 1,632,841 — 21,808 1,201 1,259 (3) 1,657,109 Consumer mortgages 2,102,767 — 27,808 1,372 167 (3) 2,132,114 Credit cards 234,728 — 533 — 773 (4) 236,034 Other retail loans 595,455 — 4,620 — 78 (3) 600,153 Total retail 4,565,791 — 54,769 2,573 2,277 4,625,410 Total loans $ 22,229,181 435,231 399,189 21,952 2,982 23,088,535 (5 ) December 31, 2015 (in thousands) Pass Special Mention Substandard (1) Doubtful (2) Loss Total Investment properties $ 5,560,595 114,705 76,331 — — 5,751,631 1-4 family properties 995,903 64,325 61,726 7,202 — 1,129,156 Land acquisition 436,835 46,208 30,574 364 — 513,981 Total commercial real estate 6,993,333 225,238 168,631 7,566 — 7,394,768 Commercial, financial and agricultural 6,184,179 152,189 100,658 13,330 2,824 (3) 6,453,180 Owner-occupied 4,118,631 78,490 121,272 98 459 (3) 4,318,950 Total commercial and industrial 10,302,810 230,679 221,930 13,428 3,283 10,772,130 Home equity lines 1,666,586 — 20,456 1,206 1,666 (3) 1,689,914 Consumer mortgages 1,910,649 — 26,041 1,700 293 (3) 1,938,683 Credit cards 239,405 — 480 — 966 (4) 240,851 Other retail loans 418,929 — 4,315 — 74 (3) 423,318 Total retail 4,235,569 — 51,292 2,906 2,999 4,292,766 Total loans $ 21,531,712 455,917 441,853 23,900 6,282 22,459,664 (6 ) (1) Includes $270.1 million and $303.7 million of Substandard accruing loans at June 30, 2016 and December 31, 2015 , 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 $27.6 million . (6) Total before net deferred fees and costs of $30.1 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, 2016 and 2015 . Allowance for Loan Losses and Recorded Investment in Loans 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)(2) $ 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 As of and For The Six Months Ended June 30, 2015 (in thousands) Commercial Real Estate Commercial & Industrial Retail Total Allowance for loan losses: Beginning balance $ 101,471 118,110 41,736 261,317 Charge-offs (10,397 ) (9,074 ) (11,757 ) (31,228 ) Recoveries 6,481 3,570 3,528 13,579 Provision for loan losses (6,864 ) 10,444 7,454 11,034 Ending balance (1) $ 90,691 123,050 40,961 254,702 Ending balance: individually evaluated for impairment 17,197 10,292 1,092 28,581 Ending balance: collectively evaluated for impairment $ 73,494 112,758 39,869 226,121 Loans: Ending balance: total loans (1)(3) $ 7,071,595 10,404,527 4,047,868 21,523,990 Ending balance: individually evaluated for impairment 193,230 112,491 41,013 346,734 Ending balance: collectively evaluated for impairment $ 6,878,365 10,292,036 4,006,855 21,177,256 (1) As of and for the six months ended June 30, 2016 and 2015, 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 $27.6 million . (3) Total before net deferred fees and costs of $29.1 million . Allowance for Loan Losses and Recorded Investment in Loans As of and For The Three Months Ended June 30, 2016 (in thousands) Commercial Real Estate Commercial & Industrial Retail 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)(2) $ 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 As of and For The Three Months Ended June 30, 2015 (in thousands) Commercial Real Estate Commercial & Industrial Retail Total Allowance for loan losses: Beginning balance $ 94,208 117,806 41,357 253,371 Charge-offs (2,957 ) (3,802 ) (3,845 ) (10,604 ) Recoveries 2,540 1,305 1,454 5,299 Provision for loan losses (3,100 ) 7,741 1,995 6,636 Ending balance (1) $ 90,691 123,050 40,961 254,702 Ending balance: individually evaluated for impairment 17,197 10,292 1,092 28,581 Ending balance: collectively evaluated for impairment $ 73,494 112,758 39,869 226,121 Loans: Ending balance: total loans (1)(3) 7,071,595 10,404,527 4,047,868 21,523,990 Ending balance: individually evaluated for impairment 193,230 112,491 41,013 346,734 Ending balance: collectively evaluated for impairment $ 6,878,365 10,292,036 4,006,855 21,177,256 (1) As of and for the three months ended June 30, 2016 and 2015, 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 $27.6 million . (3) Total before net deferred fees and costs of $29.1 million . |
Schedule of Impaired Loans | The tables below summarize impaired loans (including accruing TDRs) as of June 30, 2016 and December 31, 2015 . Impaired Loans (including accruing TDRs) June 30, 2016 Six Months Ended Three Months Ended (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 $ 4,249 4,275 — 8,772 — 8,185 — 1-4 family properties 1,219 5,243 — 1,417 — 1,329 — Land acquisition 2,650 7,109 — 4,431 — 2,857 — Total commercial real estate 8,118 16,627 — 14,620 — 12,371 — Commercial, financial and agricultural 5,434 7,585 — 5,738 — 5,761 — Owner-occupied 8,023 9,019 — 8,661 — 8,753 — Total commercial and industrial 13,457 16,604 — 14,399 — 14,514 — Home equity lines 1,043 1,043 — 1,039 — 1,043 — Consumer mortgages 814 2,065 — 814 — 814 — Credit cards — — — — — — — Other retail loans — — — — — — — Total retail 1,857 3,108 — 1,853 — 1,857 — Total impaired loans with no related allowance recorded $ 23,432 36,339 — 30,872 — 28,742 — With allowance recorded Investment properties $ 39,590 39,593 4,356 49,244 1,022 40,474 366 1-4 family properties 50,946 50,985 7,466 49,705 461 49,975 344 Land acquisition 14,300 14,301 693 19,715 223 16,342 95 Total commercial real estate 104,836 104,879 12,515 118,664 1,706 106,791 805 Commercial, financial and agricultural 53,621 55,850 12,634 54,517 517 59,487 328 Owner-occupied 52,727 52,948 1,587 50,379 927 51,355 483 Total commercial and industrial 106,348 108,798 14,221 104,896 1,444 110,842 811 Home equity lines 9,019 9,019 134 9,410 512 9,201 250 Consumer mortgages 20,939 20,939 1,179 21,480 224 21,138 109 Credit cards — — — — — — — Other retail loans 5,973 5,975 378 4,935 143 5,190 71 Total retail 35,931 35,933 1,691 35,825 879 35,529 430 Total impaired loans with allowance recorded $ 247,115 249,610 28,427 259,385 4,029 253,162 2,046 Total impaired loans Investment properties $ 43,839 43,868 4,356 58,016 1,022 48,659 366 1-4 family properties 52,165 56,228 7,466 51,122 461 51,304 344 Land acquisition 16,950 21,410 693 24,146 223 19,199 95 Total commercial real estate 112,954 121,506 12,515 133,284 1,706 119,162 805 Commercial, financial and agricultural 59,055 63,435 12,634 60,255 517 65,248 328 Owner-occupied 60,750 61,967 1,587 59,040 927 60,108 483 Total commercial and industrial 119,805 125,402 14,221 119,295 1,444 125,356 811 Home equity lines 10,062 10,062 134 10,449 512 10,244 250 Consumer mortgages 21,753 23,004 1,179 22,294 224 21,952 109 Credit cards — — — — — — — Other retail loans 5,973 5,975 378 4,935 143 5,190 71 Total retail 37,788 39,041 1,691 37,678 879 37,386 430 Total impaired loans $ 270,547 285,949 28,427 290,257 4,029 281,904 2,046 Impaired Loans (including accruing TDRs) December 31, 2015 Year Ended December 31, 2015 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded Investment properties $ 10,051 12,946 — 11,625 — 1-4 family properties 1,507 5,526 — 2,546 — Land acquisition 8,551 39,053 — 13,897 — Total commercial real estate 20,109 57,525 — 28,068 — Commercial, financial and agricultural 4,393 7,606 — 5,737 — Owner-occupied 8,762 11,210 — 14,657 — Total commercial and industrial 13,155 18,816 — 20,394 — Home equity lines 1,030 1,030 — 573 — Consumer mortgages 814 941 — 995 — Credit cards — — — — — Other retail loans — — — — — Total retail 1,844 1,971 — 1,568 — Total impaired loans with no related allowance recorded $ 35,108 78,312 — 50,030 — With allowance recorded Investment properties $ 62,305 62,305 10,070 73,211 2,131 1-4 family properties 51,376 51,376 6,184 61,690 1,618 Land acquisition 24,168 24,738 2,715 34,793 936 Total commercial real estate 137,849 138,419 18,969 169,694 4,685 Commercial, financial and agricultural 42,914 44,374 8,339 43,740 1,125 Owner-occupied 49,530 49,688 2,138 55,323 1,814 Total commercial and industrial 92,444 94,062 10,477 99,063 2,939 Home equity lines 9,575 9,575 206 8,318 346 Consumer mortgages 22,173 23,297 651 26,044 1,229 Credit cards — — — — — Other retail loans 4,651 4,651 132 5,105 323 Total retail 36,399 37,523 989 39,467 1,898 Total impaired loans with allowance recorded $ 266,692 270,004 30,435 308,224 9,522 Total impaired loans Investment properties $ 72,356 75,251 10,070 84,836 2,131 1-4 family properties 52,883 56,902 6,184 64,236 1,618 Land acquisition 32,719 63,791 2,715 48,690 936 Total commercial real estate 157,958 195,944 18,969 197,762 4,685 Commercial, financial and agricultural 47,307 51,980 8,339 49,477 1,125 Owner-occupied 58,292 60,898 2,138 69,980 1,814 Total commercial and industrial 105,599 112,878 10,477 119,457 2,939 Home equity lines 10,605 10,605 206 8,891 346 Consumer mortgages 22,987 24,238 651 27,039 1,229 Credit cards — — — — — Other retail loans 4,651 4,651 132 5,105 323 Total retail 38,243 39,494 989 41,035 1,898 Total impaired loans $ 301,800 348,316 30,435 358,254 9,522 |
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, 2016 and 2015 that were reported as accruing or non-accruing TDRs. 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 (1 ) 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 acquisition 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 retail loans 10 — 94 1,449 1,543 Total retail 14 — 322 1,500 1,822 Total TDRs 49 $ — 7,872 4,118 11,990 (2 ) (1) No net charge-offs were recorded during the six months ended June 30, 2016 upon restructuring of these loans. (2) No net charge-offs were recorded during the three months ended June 30, 2016 upon restructuring of these loans. TDRs by Concession Type Six Months Ended June 30, 2015 (in thousands, except contract data) Number of Contracts Principal Forgiveness Below Market Interest Rate Term Extensions and/or Other Concessions Total Investment properties 4 $ — 16,932 3,815 20,747 1-4 family properties 21 14,823 3,358 879 19,060 Land acquisition 6 — 604 819 1,423 Total commercial real estate 31 14,823 20,894 5,513 41,230 Commercial, financial and agricultural 49 — 1,580 3,844 5,424 Owner-occupied 3 — 1,739 416 2,155 Total commercial and industrial 52 — 3,319 4,260 7,579 Home equity lines 48 — 2,517 2,148 4,665 Consumer mortgages 12 — 510 786 1,296 Credit cards — — — — — Other retail loans 13 — 257 495 752 Total retail 73 — 3,284 3,429 6,713 Total TDRs 156 $ 14,823 27,497 13,202 55,522 (3 ) Three Months Ended June 30, 2015 (in thousands, except contract data) Number of Contracts Principal Forgiveness Below Market Interest Rate Term Extensions and/or Other Concessions Total Investment properties 1 $ — — 211 211 1-4 family properties 8 — 502 729 1,231 Land acquisition 3 — 349 111 460 Total commercial real estate 12 — 851 1,051 1,902 Commercial, financial and agricultural 24 — 565 1,954 2,519 Owner-occupied 1 — — 416 416 Total commercial and industrial 25 — 565 2,370 2,935 Home equity lines 37 — 1,542 2,013 3,555 Consumer mortgages 1 — 265 — 265 Credit cards — — — — — Other retail loans 7 — — 431 431 Total retail 45 — 1,807 2,444 4,251 Total TDRs 82 $ — 3,223 5,865 9,088 (4 ) (3) Net charge-offs of $4.0 million were recorded during the six months ended June 30, 2015 upon restructuring of these loans. (4) No net charge-offs were recorded during the three months ended June 30, 2015 upon restructuring of these loans. |
Other Comprehensive Income (L25
Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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, 2016 and 2015 . 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 before reclassifications — 11,712 — 11,712 Amounts reclassified from accumulated other comprehensive income (loss) 39 — (6 ) 33 Net current period other comprehensive income 39 11,712 (6 ) 11,745 Balance as of June 30, 2016 $ (12,297 ) 22,459 843 11,005 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, 2014 $ (12,824 ) (713 ) 932 (12,605 ) Other comprehensive income before reclassifications — (8,279 ) 143 (8,136 ) Amounts reclassified from accumulated other comprehensive income (loss) 137 (1,667 ) (52 ) (1,582 ) Net current period other comprehensive income 137 (9,946 ) 91 (9,718 ) Balance as of June 30, 2015 $ (12,687 ) (10,659 ) 1,023 (22,323 ) Balance as of April 1, 2015 $ (12,755 ) 8,198 906 (3,651 ) Other comprehensive income (loss) before reclassifications — (17,636 ) 143 (17,493 ) Amounts reclassified from accumulated other comprehensive income (loss) 68 (1,221 ) (26 ) (1,179 ) Net current period other comprehensive income (loss) 68 (18,857 ) 117 (18,672 ) Balance as of June 30, 2015 $ (12,687 ) (10,659 ) 1,023 (22,323 ) |
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, 2016 2015 Net unrealized gains (losses) on cash flow hedges: Amortization of deferred losses $ (140 ) (224 ) Interest expense Amortization of deferred losses (197 ) — Loss on early extinguishment of debt 130 87 Income tax (expense) benefit $ (207 ) (137 ) Reclassifications, net of income taxes Net unrealized gains (losses) on investment securities available for sale: Realized gain on sale of securities $ 67 2,710 Investment securities gains, net (26 ) (1,043 ) Income tax (expense) benefit $ 41 1,667 Reclassifications, net of income taxes Post-retirement unfunded health benefit: Amortization of actuarial gains $ 104 84 Salaries and other personnel expense (40 ) (32 ) Income tax (expense) benefit $ 64 52 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, 2016 2015 Net unrealized gains (losses) on cash flow hedges: Amortization of deferred losses $ (64 ) (112 ) Interest expense 25 44 Income tax (expense) benefit $ (39 ) (68 ) Reclassifications, net of income taxes Net unrealized gains (losses) on investment securities available for sale: Realized gain on sale of securities $ — 1,985 Investment securities gains, net — (764 ) Income tax (expense) benefit $ — 1,221 Reclassifications, net of income taxes Post-retirement unfunded health benefit: Amortization of actuarial gains $ 10 42 Salaries and other personnel expense (4 ) (16 ) Income tax (expense) benefit $ 6 26 Reclassifications, net of income taxes |
Fair Value Accounting (Tables)
Fair Value Accounting (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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, 2016 and December 31, 2015 , 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, 2016 and year ended December 31, 2015 were inconsequential. June 30, 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 — 798 — 798 Collateralized mortgage obligations issued by U.S. Government sponsored enterprises — 11 — 11 Other U.S. Government agencies 177 177 State and municipal securities — 15 — 15 Total trading securities $ — 1,001 — 1,001 Mortgage loans held for sale — 87,824 — 87,824 Investment securities available for sale: U.S. Treasury securities 74,823 — — 74,823 U.S. Government agency securities — 13,449 — 13,449 Securities issued by U.S. Government sponsored enterprises — 50,117 — 50,117 Mortgage-backed securities issued by U.S. Government agencies — 192,783 — 192,783 Mortgage-backed securities issued by U.S. Government sponsored enterprises — 2,581,669 — 2,581,669 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — 635,614 — 635,614 State and municipal securities — 3,046 — 3,046 Equity securities 8,731 — — 8,731 Other investments (1) 3,169 15,333 1,625 20,127 Total investment securities available for sale $ 86,723 3,492,011 1,625 3,580,359 Private equity investments — 658 26,866 27,524 Mutual funds held in rabbi trusts 11,141 — — 11,141 Derivative assets: Interest rate contracts — 36,804 — 36,804 Mortgage derivatives (2) — 2,541 — 2,541 Total derivative assets $ — 39,345 — 39,345 Liabilities Trading account liabilities — 789 — 789 Derivative liabilities: Interest rate contracts — 37,221 — 37,221 Mortgage derivatives (2) — 1,467 — 1,467 Visa derivative — — 1,415 1,415 Total derivative liabilities $ — 38,688 1,415 40,103 December 31, 2015 (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 — 2,922 — 2,922 Collateralized mortgage obligations issued by U.S. Government sponsored enterprises — 1,078 — 1,078 State and municipal securities — 1,097 — 1,097 Total trading securities $ — 5,097 — 5,097 Mortgage loans held for sale — 59,275 — 59,275 Investment securities available for sale: U.S. Treasury securities 43,357 — — 43,357 U.S. Government agency securities — 13,623 — 13,623 Securities issued by U.S. Government sponsored enterprises — 126,909 — 126,909 Mortgage-backed securities issued by U.S. Government agencies — 210,004 — 210,004 Mortgage-backed securities issued by U.S. Government sponsored enterprises — 2,630,419 — 2,630,419 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — 529,597 — 529,597 State and municipal securities — 4,434 — 4,434 Equity securities 9,672 — — 9,672 Other investments (1) 3,073 14,985 1,745 19,803 Total investment securities available for sale $ 56,102 3,529,971 1,745 3,587,818 Private equity investments — 870 27,148 28,018 Mutual funds held in rabbi trusts 10,664 — — 10,664 Derivative assets: Interest rate contracts — 25,580 — 25,580 Mortgage derivatives (2) — 1,559 — 1,559 Total derivative assets $ — 27,139 — 27,139 Liabilities Trading account liabilities — 1,032 — 1,032 Derivative liabilities: Interest rate contracts — 26,030 — 26,030 Visa derivative — — 1,415 1,415 Total derivative liabilities $ — 26,030 1,415 27,445 (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. |
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 were 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) 2016 2015 2016 2015 Mortgage loans held for sale $ 1,850 (563 ) $ 878 (973 ) Mortgage Loans Held for Sale (in thousands) As of June 30, 2016 As of December 31, 2015 Fair value $ 87,824 59,275 Unpaid principal balance 84,877 58,177 Fair value less aggregate unpaid principal balance $ 2,947 1,098 |
Changes in Level 3 Fair Value Measurements | The table below includes a roll-forward of the amounts on the consolidated balance sheet for the six and three months ended June 30, 2016 and 2015 (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, 2016 and 2015 , Synovus did not have any transfers between levels in the fair value hierarchy. Six Months Ended June 30, 2016 2015 (in thousands) Investment Securities Available for Sale Private Equity Investments Visa Derivative Investment Securities Available for Sale Private Equity Investments Visa Derivative Beginning balance, January 1, $ 1,745 27,148 (1,415 ) 1,645 27,367 (1,401 ) Total gains (losses) realized/unrealized: Included in earnings — (278 ) (720 ) — (408 ) (729 ) Unrealized gains (losses) included in other comprehensive income (120 ) — — 55 — — Purchases — — — — — — Sales — — — — — — Issuances — — — — — — Settlements — (4 ) 720 — — 715 Amortization of discount/premium — — — — — — Transfers in and/or out of Level 3 — — — — — — Ending balance, June 30, $ 1,625 26,866 (1,415 ) 1,700 26,959 (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 ) — (408 ) (729 ) Three Months Ended June 30, 2016 2015 (in thousands) Investment Securities Available for Sale Private Equity Investments Visa Derivative Investment Securities Available for Sale Private Equity Investments Visa Derivative Beginning balance, April 1, $ 1,638 26,757 (1,415 ) 1,654 27,081 (1,425 ) Total gains (losses) realized/unrealized: Included in earnings — 113 (360 ) — (122 ) (354 ) Unrealized gains (losses) included in other comprehensive income (13 ) — — 46 — — Settlements — (4 ) 360 — — 364 Ending balance, June 30, $ 1,625 26,866 (1,415 ) 1,700 26,959 (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 ) — (122 ) (354 ) |
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, 2016 December 31, 2015 (in thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Impaired loans * $ — — 3,680 3,680 — — 11,264 11,264 Other loans held for sale — — — — — — 425 425 Other real estate — — 13,082 13,082 — — 23,519 23,519 Other assets held for sale $ — — 8,043 8,043 — — 3,425 3,425 |
Assets Measured at Fair Value on a Nonrecurring Basis | The following table presents fair value adjustments recognized in earnings for the six and three months ended June 30, 2016 and 2015 for the assets measured at fair value on a non-recurring basis. Six Months Ended June 30, Three Months Ended June 30, (in thousands) 2016 2015 2016 2015 Impaired loans * $ 1,162 1,792 — 1,546 Other real estate 3,306 8,962 2,053 4,714 Other assets held for sale 6,625 — 5,593 — * Collateral-dependent impaired loans that were written down to collateral 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 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, 2016 December 31, 2015 Valuation Technique Significant Unobservable Input Range (Weighted Average) (1) Range (Weighted Average) (1) Assets 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 530 bps 477 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 marketability (2) 15% 15% Visa derivative liability Internal valuation Estimated future cumulative deposits to the litigation escrow for settlement of the Covered Litigation, and estimated future monthly fees payable to the derivative counterparty N/A N/A (1) The range represents management's best estimate of the high and low of the value that would be assigned to a particular input. (2) Represents management's estimate of discount that market participants would require based on the instrument's lack of liquidity. 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, 2016 December 31, 2015 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% - 83% (32%) 0% - 10% (7%) 0%-100% (51%) 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 0%-11% (7%) 0%-10% (7%) Other real estate Third-party appraised value of collateral less estimated selling costs Discount to appraised value (2) Estimated selling costs 0% - 32% (13%) 0% - 10% (7%) 0%-20% (7%) 0%-10% (7%) Other assets held for sale Third-party appraised value of collateral less estimated selling costs or BOV Discount to appraised value (2) Estimated selling costs 0%-86% (65%) 0%-10% (7%) 0%-75% (42%) 0%-10% (7%) (1) The range represents management's best 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 various reasons, including age of the appraisal, information known by management about the property, such as occupancy rates, changes to the physical conditions of the property, and other factors. |
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, 2016 and December 31, 2015 are as follows: June 30, 2016 (in thousands) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 377,334 377,334 377,334 — — Interest bearing funds with Federal Reserve Bank 904,406 904,406 904,406 — — Interest earning deposits with banks 24,541 24,541 24,541 — — Federal funds sold and securities purchased under resale agreements 77,685 77,685 77,685 — — Trading account assets 1,001 1,001 — 1,001 — Mortgage loans held for sale 87,824 87,824 — 87,824 — Investment securities available for sale 3,580,359 3,580,359 86,723 3,492,011 1,625 Private equity investments 27,524 27,524 — 658 26,866 Mutual funds held in rabbi trusts 11,141 11,141 11,141 — — Loans, net of deferred fees and costs 23,060,908 22,873,602 — — 22,873,602 Derivative assets 39,345 39,345 — 39,345 — Financial liabilities Trading account liabilities 789 789 — 789 — Non-interest bearing deposits 6,934,443 6,934,443 — 6,934,443 — Interest bearing deposits 16,991,479 16,999,970 — 16,999,970 — Federal funds purchased and securities sold under repurchase agreements 247,179 247,179 247,179 — — Long-term debt 2,135,892 2,203,518 — 2,203,518 — Derivative liabilities $ 40,103 40,103 — 38,688 1,415 December 31, 2015 (in thousands) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 367,092 367,092 367,092 — — Interest bearing funds with Federal Reserve Bank 829,887 829,887 829,887 — — Interest earning deposits with banks 17,387 17,387 17,387 — — Federal funds sold and securities purchased under resale agreements 69,819 69,819 69,819 — — Trading account assets 5,097 5,097 5,097 — Mortgage loans held for sale 59,275 59,275 59,275 — Other loans held for sale 425 425 — — 425 Investment securities available for sale 3,587,818 3,587,818 56,102 3,529,971 1,745 Private equity investments 28,018 28,018 — 870 27,148 Mutual funds held in rabbi trusts 10,664 10,664 10,664 — — Loans, net of deferred fees and costs 22,429,565 22,192,903 — — 22,192,903 Derivative assets 27,139 27,139 — 27,139 — Financial liabilities Trading account liabilities 1,032 1,032 — 1,032 — Non-interest bearing deposits 6,732,970 6,732,970 — 6,732,970 — Interest bearing deposits 16,509,691 16,516,222 — 16,516,222 — Federal funds purchased and securities sold under repurchase agreements 177,025 177,025 177,025 — — Long-term debt 2,186,893 2,244,376 — 2,244,376 — Derivative liabilities $ 27,445 27,445 — 26,030 1,415 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Summary of Derivative Instruments [Abstract] | |
Impact of Derivatives on Balance Sheet | The impact of derivative instruments on the consolidated balance sheets at June 30, 2016 and December 31, 2015 is presented below. Fair Value of Derivative Assets Fair Value of Derivative Liabilities (in thousands) Location on Consolidated Balance Sheet June 30, 2016 December 31, 2015 Location on Consolidated Balance Sheet June 30, 2016 December 31, 2015 Derivatives not designated as hedging instruments: Interest rate contracts Other assets $ 36,804 25,580 Other liabilities 37,221 26,030 Mortgage derivatives Other assets 2,541 1,559 Other liabilities 1,467 — Visa derivative — — Other liabilities 1,415 1,415 Total derivatives not designated as hedging instruments $ 39,345 27,139 40,103 27,445 |
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, 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 2016 2015 Interest rate contracts (1) Other non-interest income 33 (124 ) Mortgage derivatives (2) Mortgage banking income (485 ) 2,231 Total $ (452 ) 2,107 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 2016 2015 Interest rate contracts (1) Other non-interest income 27 55 Mortgage derivatives (2) Mortgage banking income (335 ) 1,128 Total $ (308 ) 1,183 (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, 2016 | |
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, 2016 . Six Months Ended June 30, Three Months Ended June 30, (in thousands, except per share data) 2016 2015 2016 2015 Basic Net Income Per Common Share: Net income available to common shareholders $ 107,870 104,637 $ 57,898 53,233 Weighted average common shares outstanding 126,164 133,935 125,100 132,947 Net income per common share, basic $ 0.85 0.78 0.46 0.40 Diluted Net Income Per Common Share: Net income available to common shareholders $ 107,870 104,637 $ 57,898 53,233 Weighted average common shares outstanding 126,164 133,935 125,100 132,947 Potentially dilutive shares from outstanding equity-based awards 614 743 599 678 Weighted average diluted common shares 126,778 134,678 125,699 133,625 Net income per common share, diluted $ 0.85 0.78 0.46 0.40 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Loan Commitments and Letters of Credit | Unfunded lending commitments and letters of credit at June 30, 2016 and December 31, 2015 are presented below. (in thousands) June 30, 2016 December 31, 2015 Letters of credit* $ 182,327 166,936 Commitments to fund commercial real estate, construction, and land development loans 1,696,990 1,882,130 Unused credit card lines 1,078,166 1,055,181 Commitments under home equity lines of credit 1,089,537 1,051,386 Commitments to fund commercial and industrial loans 4,169,140 4,094,809 Other loan commitments 417,431 284,706 Total unfunded lending commitments and letters of credit $ 8,633,591 8,535,148 * Represents the contractual amount net of risk participations of $62 million and $66 million at June 30, 2016 and December 31, 2015, respectively. |
Significant Accounting Polici30
Significant Accounting Policies (Details) | Jun. 30, 2016USD ($)BanksATMbranches | Dec. 31, 2015USD ($) |
Basis Of Presentation [Line Items] | ||
Number of bank divisions | Banks | 28 | |
Number of branches | branches | 253 | |
Number of ATMs | ATM | 335 | |
Cash and Cash Equivalents [Member] | ||
Basis Of Presentation [Line Items] | ||
Total deposits | $ 0 | $ 100,000 |
Cash and cash equivalents | 132,500,000 | 117,300,000 |
Interest earning deposits with banks | 5,500,000 | 2,200,000 |
Federal funds sold | $ 75,200,000 | $ 65,900,000 |
Share Repurchase Programs (Deta
Share Repurchase Programs (Details) - Accelerated Share Repurchase Program [Member] - USD ($) | 3 Months Ended | 9 Months Ended | |||
Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2016 | |
Equity, Class of Treasury Stock [Line Items] | |||||
Authorized amount | $ 300,000,000 | ||||
Stock repurchase program expiration date | 15 months | ||||
Remaining authorized repurchase amount | $ 91,500,000 | $ 91,500,000 | |||
Common Stock [Member] | |||||
Equity, Class of Treasury Stock [Line Items] | |||||
Repurchased amount | $ 60,500,000 | $ 110,900,000 | $ 37,100,000 | $ 208,500,000 | |
Shares repurchased | 2,000,000 | 3,900,000 | 1,200,000 | 7,100,000 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) $ in Millions | Jun. 30, 2016USD ($)Securities | Dec. 31, 2015USD ($) |
Investments [Abstract] | ||
Pledged to secure deposits | $ | $ 2,190 | $ 2,430 |
Investment securities in a loss position for less than twelve months | 5 | |
Investment securities in a loss position for twelve months or longer | 8 |
Investment Securities (Summary
Investment Securities (Summary Of Available For Sale Investment Securities) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 3,522,191 | $ 3,595,798 |
Gross Unrealized Gains | 59,160 | 19,303 |
Gross Unrealized Losses | (992) | (27,283) |
Fair Value | 3,580,359 | 3,587,818 |
U.S. Treasury Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 73,741 | 43,125 |
Gross Unrealized Gains | 1,082 | 232 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 74,823 | 43,357 |
U.S. Government Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 13,006 | 13,087 |
Gross Unrealized Gains | 443 | 536 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 13,449 | 13,623 |
Securities Issued By U.S. Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 50,063 | 126,520 |
Gross Unrealized Gains | 54 | 389 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 50,117 | 126,909 |
Mortgage-Backed Securities Issued By U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 189,281 | 209,785 |
Gross Unrealized Gains | 3,583 | 1,340 |
Gross Unrealized Losses | (81) | (1,121) |
Fair Value | 192,783 | 210,004 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,544,204 | 2,645,107 |
Gross Unrealized Gains | 37,817 | 7,874 |
Gross Unrealized Losses | (352) | (22,562) |
Fair Value | 2,581,669 | 2,630,419 |
Collateralized Mortgage Obligations Issued By U.S. Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 625,458 | 530,426 |
Gross Unrealized Gains | 10,298 | 2,396 |
Gross Unrealized Losses | (142) | (3,225) |
Fair Value | 635,614 | 529,597 |
State And Municipal Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 3,000 | 4,343 |
Gross Unrealized Gains | 47 | 92 |
Gross Unrealized Losses | (1) | (1) |
Fair Value | 3,046 | 4,434 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 3,228 | 3,228 |
Gross Unrealized Gains | 5,503 | 6,444 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 8,731 | 9,672 |
Other Investments [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 20,210 | 20,177 |
Gross Unrealized Gains | 333 | 0 |
Gross Unrealized Losses | (416) | (374) |
Fair Value | $ 20,127 | $ 19,803 |
Investment Securities (Schedule
Investment Securities (Schedule Of Unrealized Loss On Investments) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | $ 170,365 | $ 1,990,616 |
Less than 12 Months, Unrealized Losses | 352 | 14,491 |
12 Months or Longer, Fair Value | 42,459 | 585,640 |
12 Months or Longer, Unrealized Losses | 640 | 12,792 |
Total Fair Value, Fair Value | 212,824 | 2,576,256 |
Total Fair Value, Unrealized Losses | 992 | 27,283 |
Mortgage-Backed Securities Issued By U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 0 | 122,626 |
Less than 12 Months, Unrealized Losses | 0 | 639 |
12 Months or Longer, Fair Value | 9,785 | 18,435 |
12 Months or Longer, Unrealized Losses | 81 | 482 |
Total Fair Value, Fair Value | 9,785 | 141,061 |
Total Fair Value, Unrealized Losses | 81 | 1,121 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 170,365 | 1,656,194 |
Less than 12 Months, Unrealized Losses | 352 | 12,874 |
12 Months or Longer, Fair Value | 0 | 489,971 |
12 Months or Longer, Unrealized Losses | 0 | 9,688 |
Total Fair Value, Fair Value | 170,365 | 2,146,165 |
Total Fair Value, Unrealized Losses | 352 | 22,562 |
Collateralized Mortgage Obligations Issued By U.S. Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 0 | 196,811 |
Less than 12 Months, Unrealized Losses | 0 | 963 |
12 Months or Longer, Fair Value | 27,827 | 72,366 |
12 Months or Longer, Unrealized Losses | 142 | 2,262 |
Total Fair Value, Fair Value | 27,827 | 269,177 |
Total Fair Value, Unrealized Losses | 142 | 3,225 |
State And Municipal Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 0 | 0 |
Less than 12 Months, Unrealized Losses | 0 | 0 |
12 Months or Longer, Fair Value | 53 | 50 |
12 Months or Longer, Unrealized Losses | 1 | 1 |
Total Fair Value, Fair Value | 53 | 50 |
Total Fair Value, Unrealized Losses | 1 | 1 |
Other Investments [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 0 | 14,985 |
Less than 12 Months, Unrealized Losses | 0 | 15 |
12 Months or Longer, Fair Value | 4,794 | 4,818 |
12 Months or Longer, Unrealized Losses | 416 | 359 |
Total Fair Value, Fair Value | 4,794 | 19,803 |
Total Fair Value, Unrealized Losses | $ 416 | $ 374 |
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, 2016USD ($) |
Schedule of Available-for-sale Securities [Line Items] | |
Within One year, Amortized Cost | $ 69,005 |
1 to 5 Years, Amortized Cost | 62,400 |
5 to 10 Years, Amortized Cost | 1,291,901 |
More Than 10 years, Amortized Cost | 2,092,447 |
No Stated Maturity, Amortized Cost | 6,438 |
Total, Amortized Cost | 3,522,191 |
Within One Year, Fair Value | 69,059 |
1 to 5 Years, Fair Value | 63,684 |
5 to 10 Years, Fair Value | 1,308,032 |
More Than 10 years, Fair Value | 2,127,684 |
No Stated Maturity, Fair Value | 11,900 |
Total, Fair Value | 3,580,359 |
U.S. Treasury Securities [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Within One year, Amortized Cost | 18,758 |
1 to 5 Years, Amortized Cost | 54,983 |
5 to 10 Years, Amortized Cost | 0 |
More Than 10 years, Amortized Cost | 0 |
No Stated Maturity, Amortized Cost | 0 |
Total, Amortized Cost | 73,741 |
Within One Year, Fair Value | 18,758 |
1 to 5 Years, Fair Value | 56,065 |
5 to 10 Years, Fair Value | 0 |
More Than 10 years, Fair Value | 0 |
No Stated Maturity, Fair Value | 0 |
Total, Fair Value | 74,823 |
U.S. Government Agency Securities [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Within One year, Amortized Cost | 0 |
1 to 5 Years, Amortized Cost | 6,613 |
5 to 10 Years, Amortized Cost | 6,393 |
More Than 10 years, Amortized Cost | 0 |
No Stated Maturity, Amortized Cost | 0 |
Total, Amortized Cost | 13,006 |
Within One Year, Fair Value | 0 |
1 to 5 Years, Fair Value | 6,800 |
5 to 10 Years, Fair Value | 6,649 |
More Than 10 years, Fair Value | 0 |
No Stated Maturity, Fair Value | 0 |
Total, Fair Value | 13,449 |
Securities Issued By U.S. Government Sponsored Enterprises [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Within One year, Amortized Cost | 50,063 |
1 to 5 Years, Amortized Cost | 0 |
5 to 10 Years, Amortized Cost | 0 |
More Than 10 years, Amortized Cost | 0 |
No Stated Maturity, Amortized Cost | 0 |
Total, Amortized Cost | 50,063 |
Within One Year, Fair Value | 50,117 |
1 to 5 Years, Fair Value | 0 |
5 to 10 Years, Fair Value | 0 |
More Than 10 years, Fair Value | 0 |
No Stated Maturity, Fair Value | 0 |
Total, Fair Value | 50,117 |
Mortgage-Backed Securities Issued By U.S. Government Agencies [Member] | |
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 | 16,261 |
More Than 10 years, Amortized Cost | 173,020 |
No Stated Maturity, Amortized Cost | 0 |
Total, Amortized Cost | 189,281 |
Within One Year, Fair Value | 0 |
1 to 5 Years, Fair Value | 0 |
5 to 10 Years, Fair Value | 16,653 |
More Than 10 years, Fair Value | 176,130 |
No Stated Maturity, Fair Value | 0 |
Total, Fair Value | 192,783 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Within One year, Amortized Cost | 0 |
1 to 5 Years, Amortized Cost | 454 |
5 to 10 Years, Amortized Cost | 1,254,247 |
More Than 10 years, Amortized Cost | 1,289,503 |
No Stated Maturity, Amortized Cost | 0 |
Total, Amortized Cost | 2,544,204 |
Within One Year, Fair Value | 0 |
1 to 5 Years, Fair Value | 469 |
5 to 10 Years, Fair Value | 1,269,397 |
More Than 10 years, Fair Value | 1,311,803 |
No Stated Maturity, Fair Value | 0 |
Total, Fair Value | 2,581,669 |
Collateralized Mortgage-Backed Securities Issued By U.S. Government Sponsored Enterprises [Member] | |
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 | 0 |
More Than 10 years, Amortized Cost | 625,458 |
No Stated Maturity, Amortized Cost | 0 |
Total, Amortized Cost | 625,458 |
Within One Year, Fair Value | 0 |
1 to 5 Years, Fair Value | 0 |
5 to 10 Years, Fair Value | 0 |
More Than 10 years, Fair Value | 635,614 |
No Stated Maturity, Fair Value | 0 |
Total, Fair Value | 635,614 |
State And Municipal Securities [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Within One year, Amortized Cost | 184 |
1 to 5 Years, Amortized Cost | 350 |
5 to 10 Years, Amortized Cost | 0 |
More Than 10 years, Amortized Cost | 2,466 |
No Stated Maturity, Amortized Cost | 0 |
Total, Amortized Cost | 3,000 |
Within One Year, Fair Value | 184 |
1 to 5 Years, Fair Value | 350 |
5 to 10 Years, Fair Value | 0 |
More Than 10 years, Fair Value | 2,512 |
No Stated Maturity, Fair Value | 0 |
Total, Fair Value | 3,046 |
Securities With No Stated Maturity (Equity Securities) [Member] | |
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 | 0 |
More Than 10 years, Amortized Cost | 0 |
No Stated Maturity, Amortized Cost | 3,228 |
Total, Amortized Cost | 3,228 |
Within One Year, Fair Value | 0 |
1 to 5 Years, Fair Value | 0 |
5 to 10 Years, Fair Value | 0 |
More Than 10 years, Fair Value | 0 |
No Stated Maturity, Fair Value | 8,731 |
Total, Fair Value | 8,731 |
Other Investments [Member] | |
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 | 3,210 |
Total, Amortized Cost | 20,210 |
Within One Year, Fair Value | 0 |
1 to 5 Years, Fair Value | 0 |
5 to 10 Years, Fair Value | 15,333 |
More Than 10 years, Fair Value | 1,625 |
No Stated Maturity, Fair Value | 3,169 |
Total, Fair Value | $ 20,127 |
Investment Securities (Summar36
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, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Investments [Abstract] | ||||
Proceeds from sales of investment securities available for sale | $ 0 | $ 49,737 | $ 243,609 | $ 82,156 |
Gross realized gains | 0 | 1,985 | 954 | 2,710 |
Gross realized losses | 0 | 0 | (887) | 0 |
Investment securities gains, net | $ 0 | $ 1,985 | $ 67 | $ 2,710 |
Restructuring Charges (Narrativ
Restructuring Charges (Narrative) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2016USD ($)branches | Mar. 31, 2016USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($)branches | Jun. 30, 2015USD ($) | Dec. 31, 2016branches | |
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges | $ 5,841 | $ 5 | $ 6,981 | $ (102) | ||
Number of branches | branches | 253 | 253 | ||||
Gain on disposition of certain branch locations | $ 157 | |||||
Scenario, Forecast [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Number of branches | branches | 250 | |||||
Decrease in number of branches, percent | 22.60% | |||||
Facility Closing [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges | $ 4,800 | |||||
Business exit costs | $ 1,000 | $ 1,100 |
Restructuring Charges (Schedule
Restructuring Charges (Schedule Of Restructuring And Related Costs) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Restructuring Charges [Abstract] | ||||
Lease termination charges | $ (13) | $ (4) | $ 31 | $ (4) |
Asset impairment charges | 5,821 | 0 | 6,866 | 0 |
Loss (gain) on sale of assets held for sale, net | 13 | 0 | 13 | (157) |
Professional fees and other charges | 20 | 9 | 71 | 59 |
Total restructuring charges, net | $ 5,841 | $ 5 | $ 6,981 | $ (102) |
Restructuring Charges (Restruct
Restructuring Charges (Restructuring Reserve) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Restructuring Reserve [Roll Forward] | ||||
Beginning balance | $ 6,078 | $ 8,088 | $ 6,617 | $ 8,830 |
Accruals for efficiency initiatives | (13) | (4) | 31 | (4) |
Payments | (1,097) | (707) | (1,680) | (1,449) |
Ending balance | 4,968 | 7,377 | 4,968 | 7,377 |
Severance Charges [Member] | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning balance | 1,533 | 2,770 | 1,930 | 3,291 |
Accruals for efficiency initiatives | 0 | 0 | 0 | 0 |
Payments | (940) | (517) | (1,337) | (1,038) |
Ending balance | 593 | 2,253 | 593 | 2,253 |
Lease Termination Charges [Member] | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning balance | 4,545 | 5,318 | 4,687 | 5,539 |
Accruals for efficiency initiatives | (13) | (4) | 31 | (4) |
Payments | (157) | (190) | (343) | (411) |
Ending balance | $ 4,375 | $ 5,124 | $ 4,375 | $ 5,124 |
Loans and Allowance for Loan 40
Loans and Allowance for Loan Losses (Narrative) (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2016USD ($)Contract | Jun. 30, 2015USD ($)Contract | Jun. 30, 2016USD ($)Contract | Jun. 30, 2015USD ($)Contract | Dec. 31, 2015USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Average recorded investment in impaired loans | $ 281,904,000 | $ 375,500,000 | $ 290,257,000 | $ 401,500,000 | $ 358,254,000 | |||
Interest income recognized | 2,046,000 | 4,029,000 | 0 | 9,522,000 | ||||
Interest income recognized for accruing TDRs | $ 2,500,000 | $ 5,100,000 | ||||||
Non-accrual status | $ 65,400,000 | $ 65,400,000 | 77,900,000 | |||||
Number of contracts | Contract | 1 | 2 | 1 | 2 | ||||
Allowance for loan losses | $ 255,076,000 | $ 254,702,000 | $ 255,076,000 | $ 254,702,000 | 252,496,000 | $ 254,516,000 | $ 253,371,000 | $ 261,317,000 |
Substandard [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Retail loan substandard period (in days) | 90 days | |||||||
Loss And Charged Off [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Retail loans downgraded to loss (in days) | 120 days | |||||||
Accruing TDRs With Modifications And Renewals Completed [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Accruing troubled debt restructuring | 205,200,000 | $ 205,200,000 | 223,900,000 | |||||
Allowance for loan losses | $ 12,700,000 | 12,700,000 | $ 12,600,000 | |||||
Accruing TDRs With Modifications And Renewals Completed [Member] | Minimum [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Commercial-type impaired loans | 1,000,000 | |||||||
Troubled Debt Restructurings That Subsequently Defaulted [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Post-default balance for modifications classified as TDRs | $ 0 | $ 92,000 | $ 115,000 |
Loans and Allowance for Loan 41
Loans and Allowance for Loan Losses (Schedule Of Current, Accruing Past Due And Nonaccrual Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | $ 22,878,747 | $ 22,243,382 | |
Accruing 30-89 Days Past Due | 49,752 | 45,291 | |
Accruing 90 Days or Greater Past Due | 5,964 | 2,621 | |
Total Accruing Past Due | 55,716 | 47,912 | |
Non-accrual | 154,072 | 168,370 | |
Total loans | 23,088,535 | 22,459,664 | $ 21,523,990 |
Deferred fees and costs, net | 27,600 | 30,100 | $ 29,100 |
Commercial Real Estate [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 7,456,308 | 7,327,763 | |
Accruing 30-89 Days Past Due | 11,419 | 9,223 | |
Accruing 90 Days or Greater Past Due | 340 | 135 | |
Total Accruing Past Due | 11,759 | 9,358 | |
Non-accrual | 39,628 | 57,647 | |
Total loans | 7,507,695 | 7,394,768 | |
Investment Properties [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 5,901,061 | 5,726,307 | |
Accruing 30-89 Days Past Due | 5,451 | 2,284 | |
Accruing 90 Days or Greater Past Due | 0 | 0 | |
Total Accruing Past Due | 5,451 | 2,284 | |
Non-accrual | 14,149 | 23,040 | |
Total loans | 5,920,661 | 5,751,631 | |
1-4 Family Properties [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 1,106,507 | 1,105,914 | |
Accruing 30-89 Days Past Due | 3,270 | 6,300 | |
Accruing 90 Days or Greater Past Due | 134 | 103 | |
Total Accruing Past Due | 3,404 | 6,403 | |
Non-accrual | 17,869 | 16,839 | |
Total loans | 1,127,780 | 1,129,156 | |
Land Acquisition [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 448,740 | 495,542 | |
Accruing 30-89 Days Past Due | 2,698 | 639 | |
Accruing 90 Days or Greater Past Due | 206 | 32 | |
Total Accruing Past Due | 2,904 | 671 | |
Non-accrual | 7,610 | 17,768 | |
Total loans | 459,254 | 513,981 | |
Commercial and Industrial [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 10,858,751 | 10,684,344 | |
Accruing 30-89 Days Past Due | 19,698 | 17,476 | |
Accruing 90 Days or Greater Past Due | 4,042 | 880 | |
Total Accruing Past Due | 23,740 | 18,356 | |
Non-accrual | 72,939 | 69,430 | |
Total loans | 10,955,430 | 10,772,130 | |
Commercial, Financial and Agricultural [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 6,526,947 | 6,391,036 | |
Accruing 30-89 Days Past Due | 10,025 | 12,222 | |
Accruing 90 Days or Greater Past Due | 4,042 | 785 | |
Total Accruing Past Due | 14,067 | 13,007 | |
Non-accrual | 55,821 | 49,137 | |
Total loans | 6,596,835 | 6,453,180 | |
Owner-Occupied [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 4,331,804 | 4,293,308 | |
Accruing 30-89 Days Past Due | 9,673 | 5,254 | |
Accruing 90 Days or Greater Past Due | 0 | 95 | |
Total Accruing Past Due | 9,673 | 5,349 | |
Non-accrual | 17,118 | 20,293 | |
Total loans | 4,358,595 | 4,318,950 | |
Retail [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 4,563,688 | 4,231,275 | |
Accruing 30-89 Days Past Due | 18,635 | 18,592 | |
Accruing 90 Days or Greater Past Due | 1,582 | 1,606 | |
Total Accruing Past Due | 20,217 | 20,198 | |
Non-accrual | 41,505 | 41,293 | |
Total loans | 4,625,410 | 4,292,766 | |
Home Equity Lines [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 1,633,322 | 1,667,552 | |
Accruing 30-89 Days Past Due | 6,604 | 5,882 | |
Accruing 90 Days or Greater Past Due | 271 | 0 | |
Total Accruing Past Due | 6,875 | 5,882 | |
Non-accrual | 16,912 | 16,480 | |
Total loans | 1,657,109 | 1,689,914 | |
Consumer Mortgages [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 2,103,106 | 1,907,644 | |
Accruing 30-89 Days Past Due | 7,113 | 8,657 | |
Accruing 90 Days or Greater Past Due | 0 | 134 | |
Total Accruing Past Due | 7,113 | 8,791 | |
Non-accrual | 21,895 | 22,248 | |
Total loans | 2,132,114 | 1,938,683 | |
Credit Cards [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 233,118 | 237,742 | |
Accruing 30-89 Days Past Due | 1,610 | 1,663 | |
Accruing 90 Days or Greater Past Due | 1,306 | 1,446 | |
Total Accruing Past Due | 2,916 | 3,109 | |
Non-accrual | 0 | 0 | |
Total loans | 236,034 | 240,851 | |
Other Retail Loans [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Current | 594,142 | 418,337 | |
Accruing 30-89 Days Past Due | 3,308 | 2,390 | |
Accruing 90 Days or Greater Past Due | 5 | 26 | |
Total Accruing Past Due | 3,313 | 2,416 | |
Non-accrual | 2,698 | 2,565 | |
Total loans | $ 600,153 | $ 423,318 |
Loans and Allowance for Loan 42
Loans and Allowance for Loan Losses (Loan Portfolio Credit Exposure) (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | $ 23,088,535 | $ 22,459,664 | $ 21,523,990 |
Accrual substandard loans | 270,100 | 303,700 | |
Deferred fees and costs, net | $ 27,600 | 30,100 | $ 29,100 |
Maximum [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Allowance for loan losses, percent of loan amount | 50.00% | ||
Commercial Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | $ 7,507,695 | 7,394,768 | |
Investment Properties [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 5,920,661 | 5,751,631 | |
1-4 Family Properties [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 1,127,780 | 1,129,156 | |
Land Acquisition [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 459,254 | 513,981 | |
Commercial and Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 10,955,430 | 10,772,130 | |
Commercial, Financial and Agricultural [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 6,596,835 | 6,453,180 | |
Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 4,358,595 | 4,318,950 | |
Retail [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 4,625,410 | 4,292,766 | |
Home Equity Lines [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 1,657,109 | 1,689,914 | |
Consumer Mortgages [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 2,132,114 | 1,938,683 | |
Credit Cards [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 236,034 | 240,851 | |
Other Retail Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 600,153 | 423,318 | |
Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 22,229,181 | 21,531,712 | |
Pass [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 7,185,131 | 6,993,333 | |
Pass [Member] | Investment Properties [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 5,788,229 | 5,560,595 | |
Pass [Member] | 1-4 Family Properties [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 1,009,820 | 995,903 | |
Pass [Member] | Land Acquisition [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 387,082 | 436,835 | |
Pass [Member] | Commercial and Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 10,478,259 | 10,302,810 | |
Pass [Member] | Commercial, Financial and Agricultural [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 6,317,597 | 6,184,179 | |
Pass [Member] | Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 4,160,662 | 4,118,631 | |
Pass [Member] | Retail [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 4,565,791 | 4,235,569 | |
Pass [Member] | Home Equity Lines [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 1,632,841 | 1,666,586 | |
Pass [Member] | Consumer Mortgages [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 2,102,767 | 1,910,649 | |
Pass [Member] | Credit Cards [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 234,728 | 239,405 | |
Pass [Member] | Other Retail Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 595,455 | 418,929 | |
Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 435,231 | 455,917 | |
Special Mention [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 190,101 | 225,238 | |
Special Mention [Member] | Investment Properties [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 86,101 | 114,705 | |
Special Mention [Member] | 1-4 Family Properties [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 51,938 | 64,325 | |
Special Mention [Member] | Land Acquisition [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 52,062 | 46,208 | |
Special Mention [Member] | Commercial and Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 245,130 | 230,679 | |
Special Mention [Member] | Commercial, Financial and Agricultural [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 163,494 | 152,189 | |
Special Mention [Member] | Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 81,636 | 78,490 | |
Special Mention [Member] | Retail [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Special Mention [Member] | Home Equity Lines [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Special Mention [Member] | Consumer Mortgages [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Special Mention [Member] | Credit Cards [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Special Mention [Member] | Other Retail Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 399,189 | 441,853 | |
Substandard [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 124,904 | 168,631 | |
Substandard [Member] | Investment Properties [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 46,331 | 76,331 | |
Substandard [Member] | 1-4 Family Properties [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 58,789 | 61,726 | |
Substandard [Member] | Land Acquisition [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 19,784 | 30,574 | |
Substandard [Member] | Commercial and Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 219,516 | 221,930 | |
Substandard [Member] | Commercial, Financial and Agricultural [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 105,107 | 100,658 | |
Substandard [Member] | Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 114,409 | 121,272 | |
Substandard [Member] | Retail [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 54,769 | 51,292 | |
Substandard [Member] | Home Equity Lines [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 21,808 | 20,456 | |
Substandard [Member] | Consumer Mortgages [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 27,808 | 26,041 | |
Substandard [Member] | Credit Cards [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 533 | 480 | |
Substandard [Member] | Other Retail Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 4,620 | 4,315 | |
Doubtful [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 21,952 | 23,900 | |
Doubtful [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 7,559 | 7,566 | |
Doubtful [Member] | Investment Properties [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Doubtful [Member] | 1-4 Family Properties [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 7,233 | 7,202 | |
Doubtful [Member] | Land Acquisition [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 326 | 364 | |
Doubtful [Member] | Commercial and Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 11,820 | 13,428 | |
Doubtful [Member] | Commercial, Financial and Agricultural [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 10,400 | 13,330 | |
Doubtful [Member] | Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 1,420 | 98 | |
Doubtful [Member] | Retail [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 2,573 | 2,906 | |
Doubtful [Member] | Home Equity Lines [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 1,201 | 1,206 | |
Doubtful [Member] | Consumer Mortgages [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 1,372 | 1,700 | |
Doubtful [Member] | Credit Cards [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Doubtful [Member] | Other Retail Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Loss [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 2,982 | 6,282 | |
Loss [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Loss [Member] | Investment Properties [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Loss [Member] | 1-4 Family Properties [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Loss [Member] | Land Acquisition [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 0 | 0 | |
Loss [Member] | Commercial and Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 705 | 3,283 | |
Loss [Member] | Commercial, Financial and Agricultural [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 237 | 2,824 | |
Loss [Member] | Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 468 | 459 | |
Loss [Member] | Retail [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 2,277 | 2,999 | |
Loss [Member] | Home Equity Lines [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 1,259 | 1,666 | |
Loss [Member] | Consumer Mortgages [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 167 | 293 | |
Loss [Member] | Credit Cards [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | 773 | 966 | |
Loss [Member] | Other Retail Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans | $ 78 | $ 74 |
Loans and Allowance for Loan 43
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 | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance, allowance | $ 254,516,000 | $ 253,371,000 | $ 252,496,000 | $ 261,317,000 | |
Charge-offs | (15,771,000) | (10,604,000) | (27,086,000) | (31,228,000) | |
Recoveries | 9,638,000 | 5,299,000 | 13,596,000 | 13,579,000 | |
Provision for loan losses | 6,693,000 | 6,636,000 | 16,070,000 | 11,034,000 | |
Ending balance, allowance | 255,076,000 | 254,702,000 | 255,076,000 | 254,702,000 | |
Ending balance: individually evaluated for impairment, allowance | 28,427,000 | 28,581,000 | 28,427,000 | 28,581,000 | |
Ending balance: collectively evaluated for impairment, allowance | 226,649,000 | 226,121,000 | 226,649,000 | 226,121,000 | |
Total loans | 23,088,535,000 | 21,523,990,000 | 23,088,535,000 | 21,523,990,000 | $ 22,459,664,000 |
Ending balance: individually evaluated for impairment, loans | 270,547,000 | 346,734,000 | 270,547,000 | 346,734,000 | |
Ending balance: collectively evaluated for impairment, loans | 22,817,988,000 | 21,177,256,000 | 22,817,988,000 | 21,177,256,000 | |
Purchased credit-impaired loans | 0 | 0 | 0 | 0 | |
Allowance for purchased credit-impaired loans | 0 | 0 | 0 | 0 | |
Deferred fees and costs, net | 27,600,000 | 29,100,000 | 27,600,000 | 29,100,000 | $ 30,100,000 |
Commercial Real Estate [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance, allowance | 84,557,000 | 94,208,000 | 87,133,000 | 101,471,000 | |
Charge-offs | (7,455,000) | (2,957,000) | (9,277,000) | (10,397,000) | |
Recoveries | 5,397,000 | 2,540,000 | 6,690,000 | 6,481,000 | |
Provision for loan losses | (3,140,000) | (3,100,000) | (5,187,000) | (6,864,000) | |
Ending balance, allowance | 79,359,000 | 90,691,000 | 79,359,000 | 90,691,000 | |
Ending balance: individually evaluated for impairment, allowance | 12,515,000 | 17,197,000 | 12,515,000 | 17,197,000 | |
Ending balance: collectively evaluated for impairment, allowance | 66,844,000 | 73,494,000 | 66,844,000 | 73,494,000 | |
Total loans | 7,507,695,000 | 7,071,595,000 | 7,507,695,000 | 7,071,595,000 | |
Ending balance: individually evaluated for impairment, loans | 112,954,000 | 193,230,000 | 112,954,000 | 193,230,000 | |
Ending balance: collectively evaluated for impairment, loans | 7,394,741,000 | 6,878,365,000 | 7,394,741,000 | 6,878,365,000 | |
Commercial and Industrial [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance, allowance | 124,878,000 | 117,806,000 | 122,989,000 | 118,110,000 | |
Charge-offs | (5,136,000) | (3,802,000) | (10,661,000) | (9,074,000) | |
Recoveries | 3,078,000 | 1,305,000 | 4,342,000 | 3,570,000 | |
Provision for loan losses | 6,813,000 | 7,741,000 | 12,963,000 | 10,444,000 | |
Ending balance, allowance | 129,633,000 | 123,050,000 | 129,633,000 | 123,050,000 | |
Ending balance: individually evaluated for impairment, allowance | 14,221,000 | 10,292,000 | 14,221,000 | 10,292,000 | |
Ending balance: collectively evaluated for impairment, allowance | 115,412,000 | 112,758,000 | 115,412,000 | 112,758,000 | |
Total loans | 10,955,430,000 | 10,404,527,000 | 10,955,430,000 | 10,404,527,000 | |
Ending balance: individually evaluated for impairment, loans | 119,805,000 | 112,491,000 | 119,805,000 | 112,491,000 | |
Ending balance: collectively evaluated for impairment, loans | 10,835,625,000 | 10,292,036,000 | 10,835,625,000 | 10,292,036,000 | |
Retail [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance, allowance | 45,081,000 | 41,357,000 | 42,374,000 | 41,736,000 | |
Charge-offs | (3,180,000) | (3,845,000) | (7,148,000) | (11,757,000) | |
Recoveries | 1,163,000 | 1,454,000 | 2,564,000 | 3,528,000 | |
Provision for loan losses | 3,020,000 | 1,995,000 | 8,294,000 | 7,454,000 | |
Ending balance, allowance | 46,084,000 | 40,961,000 | 46,084,000 | 40,961,000 | |
Ending balance: individually evaluated for impairment, allowance | 1,691,000 | 1,092,000 | 1,691,000 | 1,092,000 | |
Ending balance: collectively evaluated for impairment, allowance | 44,393,000 | 39,869,000 | 44,393,000 | 39,869,000 | |
Total loans | 4,625,410,000 | 4,047,868,000 | 4,625,410,000 | 4,047,868,000 | |
Ending balance: individually evaluated for impairment, loans | 37,788,000 | 41,013,000 | 37,788,000 | 41,013,000 | |
Ending balance: collectively evaluated for impairment, loans | $ 4,587,622,000 | $ 4,006,855,000 | $ 4,587,622,000 | $ 4,006,855,000 |
Loans and Allowance for Loan 44
Loans and Allowance for Loan Losses (Schedule Of Impaired Loans) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | $ 23,432,000 | $ 23,432,000 | $ 35,108,000 | ||
Recorded Investment, With allowance recorded | 247,115,000 | 247,115,000 | 266,692,000 | ||
Recorded Investment | 270,547,000 | 270,547,000 | 301,800,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 36,339,000 | 36,339,000 | 78,312,000 | ||
Unpaid Principal Balance, With allowance recorded | 249,610,000 | 249,610,000 | 270,004,000 | ||
Unpaid Principal Balance | 285,949,000 | 285,949,000 | 348,316,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 28,427,000 | 28,427,000 | 30,435,000 | ||
Related Allowance | 28,427,000 | 28,427,000 | 30,435,000 | ||
Average Recorded Investment, With no related allowance recorded | 28,742,000 | 30,872,000 | 50,030,000 | ||
Average Recorded Investment, With allowance recorded | 253,162,000 | 259,385,000 | 308,224,000 | ||
Average Recorded Investment | 281,904,000 | $ 375,500,000 | 290,257,000 | $ 401,500,000 | 358,254,000 |
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 2,046,000 | 4,029,000 | 9,522,000 | ||
Interest Income Recognized | 2,046,000 | 4,029,000 | $ 0 | 9,522,000 | |
Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 8,118,000 | 8,118,000 | 20,109,000 | ||
Recorded Investment, With allowance recorded | 104,836,000 | 104,836,000 | 137,849,000 | ||
Recorded Investment | 112,954,000 | 112,954,000 | 157,958,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 16,627,000 | 16,627,000 | 57,525,000 | ||
Unpaid Principal Balance, With allowance recorded | 104,879,000 | 104,879,000 | 138,419,000 | ||
Unpaid Principal Balance | 121,506,000 | 121,506,000 | 195,944,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 12,515,000 | 12,515,000 | 18,969,000 | ||
Related Allowance | 12,515,000 | 12,515,000 | 18,969,000 | ||
Average Recorded Investment, With no related allowance recorded | 12,371,000 | 14,620,000 | 28,068,000 | ||
Average Recorded Investment, With allowance recorded | 106,791,000 | 118,664,000 | 169,694,000 | ||
Average Recorded Investment | 119,162,000 | 133,284,000 | 197,762,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 805,000 | 1,706,000 | 4,685,000 | ||
Interest Income Recognized | 805,000 | 1,706,000 | 4,685,000 | ||
Investment Properties [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 4,249,000 | 4,249,000 | 10,051,000 | ||
Recorded Investment, With allowance recorded | 39,590,000 | 39,590,000 | 62,305,000 | ||
Recorded Investment | 43,839,000 | 43,839,000 | 72,356,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 4,275,000 | 4,275,000 | 12,946,000 | ||
Unpaid Principal Balance, With allowance recorded | 39,593,000 | 39,593,000 | 62,305,000 | ||
Unpaid Principal Balance | 43,868,000 | 43,868,000 | 75,251,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 4,356,000 | 4,356,000 | 10,070,000 | ||
Related Allowance | 4,356,000 | 4,356,000 | 10,070,000 | ||
Average Recorded Investment, With no related allowance recorded | 8,185,000 | 8,772,000 | 11,625,000 | ||
Average Recorded Investment, With allowance recorded | 40,474,000 | 49,244,000 | 73,211,000 | ||
Average Recorded Investment | 48,659,000 | 58,016,000 | 84,836,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 366,000 | 1,022,000 | 2,131,000 | ||
Interest Income Recognized | 366,000 | 1,022,000 | 2,131,000 | ||
1-4 Family Properties [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 1,219,000 | 1,219,000 | 1,507,000 | ||
Recorded Investment, With allowance recorded | 50,946,000 | 50,946,000 | 51,376,000 | ||
Recorded Investment | 52,165,000 | 52,165,000 | 52,883,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 5,243,000 | 5,243,000 | 5,526,000 | ||
Unpaid Principal Balance, With allowance recorded | 50,985,000 | 50,985,000 | 51,376,000 | ||
Unpaid Principal Balance | 56,228,000 | 56,228,000 | 56,902,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 7,466,000 | 7,466,000 | 6,184,000 | ||
Related Allowance | 7,466,000 | 7,466,000 | 6,184,000 | ||
Average Recorded Investment, With no related allowance recorded | 1,329,000 | 1,417,000 | 2,546,000 | ||
Average Recorded Investment, With allowance recorded | 49,975,000 | 49,705,000 | 61,690,000 | ||
Average Recorded Investment | 51,304,000 | 51,122,000 | 64,236,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 344,000 | 461,000 | 1,618,000 | ||
Interest Income Recognized | 344,000 | 461,000 | 1,618,000 | ||
Land Acquisition [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 2,650,000 | 2,650,000 | 8,551,000 | ||
Recorded Investment, With allowance recorded | 14,300,000 | 14,300,000 | 24,168,000 | ||
Recorded Investment | 16,950,000 | 16,950,000 | 32,719,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 7,109,000 | 7,109,000 | 39,053,000 | ||
Unpaid Principal Balance, With allowance recorded | 14,301,000 | 14,301,000 | 24,738,000 | ||
Unpaid Principal Balance | 21,410,000 | 21,410,000 | 63,791,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 693,000 | 693,000 | 2,715,000 | ||
Related Allowance | 693,000 | 693,000 | 2,715,000 | ||
Average Recorded Investment, With no related allowance recorded | 2,857,000 | 4,431,000 | 13,897,000 | ||
Average Recorded Investment, With allowance recorded | 16,342,000 | 19,715,000 | 34,793,000 | ||
Average Recorded Investment | 19,199,000 | 24,146,000 | 48,690,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 95,000 | 223,000 | 936,000 | ||
Interest Income Recognized | 95,000 | 223,000 | 936,000 | ||
Commercial and Industrial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 13,457,000 | 13,457,000 | 13,155,000 | ||
Recorded Investment, With allowance recorded | 106,348,000 | 106,348,000 | 92,444,000 | ||
Recorded Investment | 119,805,000 | 119,805,000 | 105,599,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 16,604,000 | 16,604,000 | 18,816,000 | ||
Unpaid Principal Balance, With allowance recorded | 108,798,000 | 108,798,000 | 94,062,000 | ||
Unpaid Principal Balance | 125,402,000 | 125,402,000 | 112,878,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 14,221,000 | 14,221,000 | 10,477,000 | ||
Related Allowance | 14,221,000 | 14,221,000 | 10,477,000 | ||
Average Recorded Investment, With no related allowance recorded | 14,514,000 | 14,399,000 | 20,394,000 | ||
Average Recorded Investment, With allowance recorded | 110,842,000 | 104,896,000 | 99,063,000 | ||
Average Recorded Investment | 125,356,000 | 119,295,000 | 119,457,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 811,000 | 1,444,000 | 2,939,000 | ||
Interest Income Recognized | 811,000 | 1,444,000 | 2,939,000 | ||
Commercial, Financial and Agricultural [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 5,434,000 | 5,434,000 | 4,393,000 | ||
Recorded Investment, With allowance recorded | 53,621,000 | 53,621,000 | 42,914,000 | ||
Recorded Investment | 59,055,000 | 59,055,000 | 47,307,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 7,585,000 | 7,585,000 | 7,606,000 | ||
Unpaid Principal Balance, With allowance recorded | 55,850,000 | 55,850,000 | 44,374,000 | ||
Unpaid Principal Balance | 63,435,000 | 63,435,000 | 51,980,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 12,634,000 | 12,634,000 | 8,339,000 | ||
Related Allowance | 12,634,000 | 12,634,000 | 8,339,000 | ||
Average Recorded Investment, With no related allowance recorded | 5,761,000 | 5,738,000 | 5,737,000 | ||
Average Recorded Investment, With allowance recorded | 59,487,000 | 54,517,000 | 43,740,000 | ||
Average Recorded Investment | 65,248,000 | 60,255,000 | 49,477,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 328,000 | 517,000 | 1,125,000 | ||
Interest Income Recognized | 328,000 | 517,000 | 1,125,000 | ||
Owner-Occupied [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 8,023,000 | 8,023,000 | 8,762,000 | ||
Recorded Investment, With allowance recorded | 52,727,000 | 52,727,000 | 49,530,000 | ||
Recorded Investment | 60,750,000 | 60,750,000 | 58,292,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 9,019,000 | 9,019,000 | 11,210,000 | ||
Unpaid Principal Balance, With allowance recorded | 52,948,000 | 52,948,000 | 49,688,000 | ||
Unpaid Principal Balance | 61,967,000 | 61,967,000 | 60,898,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 1,587,000 | 1,587,000 | 2,138,000 | ||
Related Allowance | 1,587,000 | 1,587,000 | 2,138,000 | ||
Average Recorded Investment, With no related allowance recorded | 8,753,000 | 8,661,000 | 14,657,000 | ||
Average Recorded Investment, With allowance recorded | 51,355,000 | 50,379,000 | 55,323,000 | ||
Average Recorded Investment | 60,108,000 | 59,040,000 | 69,980,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 483,000 | 927,000 | 1,814,000 | ||
Interest Income Recognized | 483,000 | 927,000 | 1,814,000 | ||
Retail [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 1,857,000 | 1,857,000 | 1,844,000 | ||
Recorded Investment, With allowance recorded | 35,931,000 | 35,931,000 | 36,399,000 | ||
Recorded Investment | 37,788,000 | 37,788,000 | 38,243,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 3,108,000 | 3,108,000 | 1,971,000 | ||
Unpaid Principal Balance, With allowance recorded | 35,933,000 | 35,933,000 | 37,523,000 | ||
Unpaid Principal Balance | 39,041,000 | 39,041,000 | 39,494,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 1,691,000 | 1,691,000 | 989,000 | ||
Related Allowance | 1,691,000 | 1,691,000 | 989,000 | ||
Average Recorded Investment, With no related allowance recorded | 1,857,000 | 1,853,000 | 1,568,000 | ||
Average Recorded Investment, With allowance recorded | 35,529,000 | 35,825,000 | 39,467,000 | ||
Average Recorded Investment | 37,386,000 | 37,678,000 | 41,035,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 430,000 | 879,000 | 1,898,000 | ||
Interest Income Recognized | 430,000 | 879,000 | 1,898,000 | ||
Home Equity Lines [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 1,043,000 | 1,043,000 | 1,030,000 | ||
Recorded Investment, With allowance recorded | 9,019,000 | 9,019,000 | 9,575,000 | ||
Recorded Investment | 10,062,000 | 10,062,000 | 10,605,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 1,043,000 | 1,043,000 | 1,030,000 | ||
Unpaid Principal Balance, With allowance recorded | 9,019,000 | 9,019,000 | 9,575,000 | ||
Unpaid Principal Balance | 10,062,000 | 10,062,000 | 10,605,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 134,000 | 134,000 | 206,000 | ||
Related Allowance | 134,000 | 134,000 | 206,000 | ||
Average Recorded Investment, With no related allowance recorded | 1,043,000 | 1,039,000 | 573,000 | ||
Average Recorded Investment, With allowance recorded | 9,201,000 | 9,410,000 | 8,318,000 | ||
Average Recorded Investment | 10,244,000 | 10,449,000 | 8,891,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 250,000 | 512,000 | 346,000 | ||
Interest Income Recognized | 250,000 | 512,000 | 346,000 | ||
Consumer Mortgages [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 814,000 | 814,000 | 814,000 | ||
Recorded Investment, With allowance recorded | 20,939,000 | 20,939,000 | 22,173,000 | ||
Recorded Investment | 21,753,000 | 21,753,000 | 22,987,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 2,065,000 | 2,065,000 | 941,000 | ||
Unpaid Principal Balance, With allowance recorded | 20,939,000 | 20,939,000 | 23,297,000 | ||
Unpaid Principal Balance | 23,004,000 | 23,004,000 | 24,238,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 1,179,000 | 1,179,000 | 651,000 | ||
Related Allowance | 1,179,000 | 1,179,000 | 651,000 | ||
Average Recorded Investment, With no related allowance recorded | 814,000 | 814,000 | 995,000 | ||
Average Recorded Investment, With allowance recorded | 21,138,000 | 21,480,000 | 26,044,000 | ||
Average Recorded Investment | 21,952,000 | 22,294,000 | 27,039,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 109,000 | 224,000 | 1,229,000 | ||
Interest Income Recognized | 109,000 | 224,000 | 1,229,000 | ||
Credit Card Receivable [Member] | |||||
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 Retail Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 0 | 0 | 0 | ||
Recorded Investment, With allowance recorded | 5,973,000 | 5,973,000 | 4,651,000 | ||
Recorded Investment | 5,973,000 | 5,973,000 | 4,651,000 | ||
Unpaid Principal Balance, With no related allowance recorded | 0 | 0 | 0 | ||
Unpaid Principal Balance, With allowance recorded | 5,975,000 | 5,975,000 | 4,651,000 | ||
Unpaid Principal Balance | 5,975,000 | 5,975,000 | 4,651,000 | ||
Related Allowance, With no related allowance recorded | 0 | 0 | 0 | ||
Related Allowance, With allowance recorded | 378,000 | 378,000 | 132,000 | ||
Related Allowance | 378,000 | 378,000 | 132,000 | ||
Average Recorded Investment, With no related allowance recorded | 0 | 0 | 0 | ||
Average Recorded Investment, With allowance recorded | 5,190,000 | 4,935,000 | 5,105,000 | ||
Average Recorded Investment | 5,190,000 | 4,935,000 | 5,105,000 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | ||
Interest Income Recognized, With allowance recorded | 71,000 | 143,000 | 323,000 | ||
Interest Income Recognized | $ 71,000 | $ 143,000 | $ 323,000 |
Loans and Allowance for Loan 45
Loans and Allowance for Loan Losses (Troubled Debt Restructurings) (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016USD ($)Contract | Jun. 30, 2015USD ($)Contract | Jun. 30, 2016USD ($)Contract | Jun. 30, 2015USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 49 | 82 | 110 | 156 |
Recorded Investment | $ 11,990,000 | $ 9,088,000 | $ 32,394,000 | $ 55,522,000 |
Net charge-offs | $ 0 | $ 0 | $ 0 | $ 4,000,000 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 18 | 12 | 33 | 31 |
Recorded Investment | $ 5,542,000 | $ 1,902,000 | $ 7,897,000 | $ 41,230,000 |
Investment Properties [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 1 | 3 | 4 |
Recorded Investment | $ 1,389,000 | $ 211,000 | $ 1,974,000 | $ 20,747,000 |
1-4 Family Properties [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 12 | 8 | 19 | 21 |
Recorded Investment | $ 3,419,000 | $ 1,231,000 | $ 4,654,000 | $ 19,060,000 |
Land Acquisition [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 5 | 3 | 11 | 6 |
Recorded Investment | $ 734,000 | $ 460,000 | $ 1,269,000 | $ 1,423,000 |
Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 17 | 25 | 51 | 52 |
Recorded Investment | $ 4,626,000 | $ 2,935,000 | $ 22,010,000 | $ 7,579,000 |
Commercial, Financial and Agricultural [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 15 | 24 | 45 | 49 |
Recorded Investment | $ 3,392,000 | $ 2,519,000 | $ 18,793,000 | $ 5,424,000 |
Owner-Occupied [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 2 | 1 | 6 | 3 |
Recorded Investment | $ 1,234,000 | $ 416,000 | $ 3,217,000 | $ 2,155,000 |
Retail [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 14 | 45 | 26 | 73 |
Recorded Investment | $ 1,822,000 | $ 4,251,000 | $ 2,487,000 | $ 6,713,000 |
Home Equity Lines [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 37 | 3 | 48 |
Recorded Investment | $ 28,000 | $ 3,555,000 | $ 224,000 | $ 4,665,000 |
Consumer Mortgages [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 3 | 1 | 6 | 12 |
Recorded Investment | $ 251,000 | $ 265,000 | $ 405,000 | $ 1,296,000 |
Credit Cards [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 0 | 0 | 0 | 0 |
Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Other Retail Loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 10 | 7 | 17 | 13 |
Recorded Investment | $ 1,543,000 | $ 431,000 | $ 1,858,000 | $ 752,000 |
Principal Forgiveness [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 14,823,000 |
Principal Forgiveness [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 14,823,000 |
Principal Forgiveness [Member] | Investment Properties [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness [Member] | 1-4 Family Properties [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 14,823,000 |
Principal Forgiveness [Member] | Land Acquisition [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness [Member] | Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness [Member] | Commercial, Financial and Agricultural [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness [Member] | Owner-Occupied [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness [Member] | Retail [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness [Member] | Home Equity Lines [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness [Member] | Consumer Mortgages [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness [Member] | Credit Cards [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Principal Forgiveness [Member] | Other Retail Loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Below Market Interest Rate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 7,872,000 | 3,223,000 | 22,833,000 | 27,497,000 |
Below Market Interest Rate [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 4,484,000 | 851,000 | 5,316,000 | 20,894,000 |
Below Market Interest Rate [Member] | Investment Properties [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 1,389,000 | 0 | 1,826,000 | 16,932,000 |
Below Market Interest Rate [Member] | 1-4 Family Properties [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 3,095,000 | 502,000 | 3,490,000 | 3,358,000 |
Below Market Interest Rate [Member] | Land Acquisition [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 349,000 | 0 | 604,000 |
Below Market Interest Rate [Member] | Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 3,066,000 | 565,000 | 16,615,000 | 3,319,000 |
Below Market Interest Rate [Member] | Commercial, Financial and Agricultural [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 1,934,000 | 565,000 | 13,948,000 | 1,580,000 |
Below Market Interest Rate [Member] | Owner-Occupied [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 1,132,000 | 0 | 2,667,000 | 1,739,000 |
Below Market Interest Rate [Member] | Retail [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 322,000 | 1,807,000 | 902,000 | 3,284,000 |
Below Market Interest Rate [Member] | Home Equity Lines [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 28,000 | 1,542,000 | 224,000 | 2,517,000 |
Below Market Interest Rate [Member] | Consumer Mortgages [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 200,000 | 265,000 | 354,000 | 510,000 |
Below Market Interest Rate [Member] | Credit Cards [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Below Market Interest Rate [Member] | Other Retail Loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 94,000 | 0 | 324,000 | 257,000 |
Term Extensions and or Other Concessions [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 4,118,000 | 5,865,000 | 9,561,000 | 13,202,000 |
Term Extensions and or Other Concessions [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 1,058,000 | 1,051,000 | 2,581,000 | 5,513,000 |
Term Extensions and or Other Concessions [Member] | Investment Properties [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 211,000 | 148,000 | 3,815,000 |
Term Extensions and or Other Concessions [Member] | 1-4 Family Properties [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 324,000 | 729,000 | 1,164,000 | 879,000 |
Term Extensions and or Other Concessions [Member] | Land Acquisition [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 734,000 | 111,000 | 1,269,000 | 819,000 |
Term Extensions and or Other Concessions [Member] | Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 1,560,000 | 2,370,000 | 5,395,000 | 4,260,000 |
Term Extensions and or Other Concessions [Member] | Commercial, Financial and Agricultural [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 1,458,000 | 1,954,000 | 4,845,000 | 3,844,000 |
Term Extensions and or Other Concessions [Member] | Owner-Occupied [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 102,000 | 416,000 | 550,000 | 416,000 |
Term Extensions and or Other Concessions [Member] | Retail [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 1,500,000 | 2,444,000 | 1,585,000 | 3,429,000 |
Term Extensions and or Other Concessions [Member] | Home Equity Lines [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 2,013,000 | 0 | 2,148,000 |
Term Extensions and or Other Concessions [Member] | Consumer Mortgages [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 51,000 | 0 | 51,000 | 786,000 |
Term Extensions and or Other Concessions [Member] | Credit Cards [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | 0 | 0 | 0 | 0 |
Term Extensions and or Other Concessions [Member] | Other Retail Loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded Investment | $ 1,449,000 | $ 431,000 | $ 1,534,000 | $ 495,000 |
Other Comprehensive Income (L46
Other Comprehensive Income (Loss) (Narrative) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Class of Stock [Line Items] | ||||||
Accumulated other comprehensive income (loss) | $ 11,005 | $ (29,819) | ||||
Net Unrealized Gains (Losses) on Cash Flow Hedges [Member] | ||||||
Class of Stock [Line Items] | ||||||
Accumulated other comprehensive income (loss) | (12,297) | $ (12,336) | (12,504) | $ (12,687) | $ (12,755) | $ (12,824) |
Net Unrealized Gains (Losses) on Cash Flow Hedges [Member] | Valuation Allowance of Deferred Tax Assets [Member] | ||||||
Class of Stock [Line Items] | ||||||
Accumulated other comprehensive income (loss) | (12,100) | |||||
Net Unrealized Gains (Losses) on Investment Securities Available for Sale [Member] | ||||||
Class of Stock [Line Items] | ||||||
Accumulated other comprehensive income (loss) | 22,459 | $ 10,747 | $ (18,222) | $ (10,659) | $ 8,198 | $ (713) |
Net Unrealized Gains (Losses) on Investment Securities Available for Sale [Member] | Valuation Allowance of Deferred Tax Assets [Member] | ||||||
Class of Stock [Line Items] | ||||||
Accumulated other comprehensive income (loss) | $ (13,300) |
Other Comprehensive Income (L47
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, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Changes in Accumulated Other Comprehensive Income (Loss) by Component [Roll Forward] | ||||
Beginning balance | $ (29,819) | |||
Net current period other comprehensive income (loss) | $ 11,745 | $ (18,672) | 40,824 | $ (9,718) |
Ending balance | 11,005 | 11,005 | ||
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component [Roll Forward] | ||||
Beginning balance | (740) | (3,651) | (29,819) | (12,605) |
Other comprehensive income (loss) before reclassifications | 11,712 | (17,493) | 40,722 | (8,136) |
Amounts reclassified from accumulated other comprehensive income (loss) | 33 | (1,179) | 102 | (1,582) |
Net current period other comprehensive income (loss) | 11,745 | (18,672) | 40,824 | (9,718) |
Ending balance | 11,005 | (22,323) | 11,005 | (22,323) |
Net Unrealized Gains (Losses) on Cash Flow Hedges [Member] | ||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component [Roll Forward] | ||||
Beginning balance | (12,336) | (12,755) | (12,504) | (12,824) |
Other comprehensive income (loss) before reclassifications | 0 | 0 | 0 | 0 |
Amounts reclassified from accumulated other comprehensive income (loss) | 39 | 68 | 207 | 137 |
Net current period other comprehensive income (loss) | 39 | 68 | 207 | 137 |
Ending balance | (12,297) | (12,687) | (12,297) | (12,687) |
Net Unrealized Gains (Losses) on Investment Securities Available for Sale [Member] | ||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component [Roll Forward] | ||||
Beginning balance | 10,747 | 8,198 | (18,222) | (713) |
Other comprehensive income (loss) before reclassifications | 11,712 | (17,636) | 40,722 | (8,279) |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | (1,221) | (41) | (1,667) |
Net current period other comprehensive income (loss) | 11,712 | (18,857) | 40,681 | (9,946) |
Ending balance | 22,459 | (10,659) | 22,459 | (10,659) |
Post-Retirement Unfunded Health Benefit [Member] | ||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component [Roll Forward] | ||||
Beginning balance | 849 | 906 | 907 | 932 |
Other comprehensive income (loss) before reclassifications | 0 | 143 | 0 | 143 |
Amounts reclassified from accumulated other comprehensive income (loss) | (6) | (26) | (64) | (52) |
Net current period other comprehensive income (loss) | (6) | 117 | (64) | 91 |
Ending balance | $ 843 | $ 1,023 | $ 843 | $ 1,023 |
Other Comprehensive Income (L48
Other Comprehensive Income (Loss) (Reclassifications out of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest expense | $ (30,944) | $ (30,010) | $ (62,073) | $ (58,147) |
Loss on early extinguishment of debt | 0 | 0 | (4,735) | 0 |
Income tax (expense) benefit | (33,574) | (32,242) | (64,773) | (64,091) |
Investment securities gains, net | 0 | 1,985 | 67 | 2,710 |
Salaries and other personnel expense | (188,611) | (177,806) | (376,844) | (356,713) |
Net income available to common shareholders | 57,898 | 53,233 | 107,870 | 104,637 |
Net Unrealized Gains (Losses) on Cash Flow Hedges [Member] | ||||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest expense | (64) | (112) | (140) | (224) |
Loss on early extinguishment of debt | (197) | 0 | ||
Income tax (expense) benefit | 25 | 44 | 130 | 87 |
Net income available to common shareholders | (39) | (68) | (207) | (137) |
Net Unrealized Gains (Losses) on Investment Securities Available for Sale [Member] | ||||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income tax (expense) benefit | 0 | (764) | (26) | (1,043) |
Investment securities gains, net | 0 | 1,985 | 67 | 2,710 |
Net income available to common shareholders | 0 | 1,221 | 41 | 1,667 |
Post-Retirement Unfunded Health Benefit [Member] | ||||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income tax (expense) benefit | (4) | (16) | (40) | (32) |
Salaries and other personnel expense | 10 | 42 | 104 | 84 |
Net income available to common shareholders | $ 6 | $ 26 | $ 64 | $ 52 |
Fair Value Accounting (Financia
Fair Value Accounting (Financial Instruments Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | $ 1,001 | $ 5,097 |
Investment securities available for sale | 3,580,359 | 3,587,818 |
Mortgage-Backed Securities Issued By U.S. Government Agencies [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 192,783 | 210,004 |
Collateralized Mortgage Obligations Issued By U.S. Government Sponsored Enterprises [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 635,614 | 529,597 |
State And Municipal Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 3,046 | 4,434 |
Other Investments [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 20,127 | 19,803 |
U.S. Treasury Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 74,823 | 43,357 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 2,581,669 | 2,630,419 |
Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 8,731 | 9,672 |
Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | |
Investment securities available for sale | 86,723 | 56,102 |
Private equity investments | 0 | 0 |
Derivative assets | 0 | 0 |
Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 1,001 | 5,097 |
Investment securities available for sale | 3,492,011 | 3,529,971 |
Private equity investments | 658 | 870 |
Derivative assets | 39,345 | 27,139 |
Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | 0 |
Investment securities available for sale | 1,625 | 1,745 |
Private equity investments | 26,866 | 27,148 |
Derivative assets | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 1,001 | 5,097 |
Mortgage loans held for sale | 87,824 | 59,275 |
Investment securities available for sale | 3,580,359 | 3,587,818 |
Private equity investments | 27,524 | 28,018 |
Mutual funds held in Rabbi Trusts | 11,141 | 10,664 |
Derivative assets | 39,345 | 27,139 |
Trading account liabilities | 789 | |
Derivative liabilities | 40,103 | 27,445 |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities Issued By U.S. Government Agencies [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 798 | 2,922 |
Investment securities available for sale | 192,783 | 210,004 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Obligations Issued By U.S. Government Sponsored Enterprises [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 11 | 1,078 |
Investment securities available for sale | 635,614 | 529,597 |
Fair Value, Measurements, Recurring [Member] | Other US Government Agencies Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 177 | |
Fair Value, Measurements, Recurring [Member] | State And Municipal Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 15 | 1,097 |
Investment securities available for sale | 3,046 | 4,434 |
Fair Value, Measurements, Recurring [Member] | Other Investments [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 20,127 | 19,803 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 74,823 | 43,357 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 13,449 | 13,623 |
Fair Value, Measurements, Recurring [Member] | Securities Issued By U S Government Sponsored Enterprises [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 50,117 | 126,909 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 2,581,669 | 2,630,419 |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 8,731 | 9,672 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Contracts [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 36,804 | 25,580 |
Derivative liabilities | 37,221 | 26,030 |
Fair Value, Measurements, Recurring [Member] | Mortgage Derivatives [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 2,541 | 1,559 |
Derivative liabilities | 1,467 | |
Fair Value, Measurements, Recurring [Member] | Trading Account Liabilities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading account liabilities | 1,032 | |
Fair Value, Measurements, Recurring [Member] | Visa Derivative [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liabilities | 1,415 | 1,415 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
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 | 86,723 | 56,102 |
Private equity investments | 0 | 0 |
Mutual funds held in Rabbi Trusts | 11,141 | 10,664 |
Derivative assets | 0 | 0 |
Trading account liabilities | 0 | |
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Mortgage-Backed Securities Issued By U.S. Government Agencies [Member] | ||
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 [Member] | Level 1 [Member] | Collateralized Mortgage Obligations Issued By U.S. Government Sponsored Enterprises [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | |
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | State And Municipal Securities [Member] | ||
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 [Member] | Level 1 [Member] | Other Investments [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 3,169 | 3,073 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | U.S. Treasury Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 74,823 | 43,357 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Securities Issued By U S Government Sponsored Enterprises [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 8,731 | 9,672 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Interest Rate Contracts [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Mortgage Derivatives [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liabilities | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Trading Account Liabilities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading account liabilities | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Visa Derivative [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 1,001 | 5,097 |
Mortgage loans held for sale | 87,824 | 59,275 |
Investment securities available for sale | 3,492,011 | 3,529,971 |
Private equity investments | 658 | 870 |
Mutual funds held in Rabbi Trusts | 0 | 0 |
Derivative assets | 39,345 | 27,139 |
Trading account liabilities | 789 | |
Derivative liabilities | 38,688 | 26,030 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Mortgage-Backed Securities Issued By U.S. Government Agencies [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 798 | 2,922 |
Investment securities available for sale | 192,783 | 210,004 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Collateralized Mortgage Obligations Issued By U.S. Government Sponsored Enterprises [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 11 | 1,078 |
Investment securities available for sale | 635,614 | 529,597 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other US Government Agencies Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 177 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | State And Municipal Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 15 | 1,097 |
Investment securities available for sale | 3,046 | 4,434 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other Investments [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 15,333 | 14,985 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. Treasury Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 13,449 | 13,623 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Securities Issued By U S Government Sponsored Enterprises [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 50,117 | 126,909 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 2,581,669 | 2,630,419 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Interest Rate Contracts [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 36,804 | 25,580 |
Derivative liabilities | 37,221 | 26,030 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Mortgage Derivatives [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 2,541 | 1,559 |
Derivative liabilities | 1,467 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Trading Account Liabilities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading account liabilities | 1,032 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Visa Derivative [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
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 | 1,625 | 1,745 |
Private equity investments | 26,866 | 27,148 |
Mutual funds held in Rabbi Trusts | 0 | 0 |
Derivative assets | 0 | 0 |
Trading account liabilities | 0 | |
Derivative liabilities | 1,415 | 1,415 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Mortgage-Backed Securities Issued By U.S. Government Agencies [Member] | ||
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 [Member] | Level 3 [Member] | Collateralized Mortgage Obligations Issued By U.S. Government Sponsored Enterprises [Member] | ||
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 [Member] | Level 3 [Member] | State And Municipal Securities [Member] | ||
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 [Member] | Level 3 [Member] | Other Investments [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 1,625 | 1,745 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | U.S. Treasury Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Securities Issued By U S Government Sponsored Enterprises [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Interest Rate Contracts [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Mortgage Derivatives [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liabilities | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Trading Account Liabilities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading account liabilities | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Visa Derivative [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liabilities | $ 1,415 | $ 1,415 |
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, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |||||
Mortgage loans held for sale | $ 878 | $ (973) | $ 1,850 | $ (563) | |
Aggregate fair value | 87,824 | 87,824 | $ 59,275 | ||
Unpaid principal balance | 84,877 | 84,877 | 58,177 | ||
Fair value less aggregate unpaid principal balance | $ 2,947 | $ 2,947 | $ 1,098 |
Fair Value Accounting (Change51
Fair Value Accounting (Changes In Level 3 Fair Value Measurements) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Investment Securities Available for Sale [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ 1,638 | $ 1,654 | $ 1,745 | $ 1,645 |
Included in earnings | 0 | 0 | 0 | 0 |
Unrealized gains (losses) included in other comprehensive income | (13) | 46 | (120) | 55 |
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 0 | 0 | ||
Settlements | 0 | 0 | 0 | 0 |
Amortization of discount/premium | 0 | 0 | ||
Transfers in and/or out of Level 3 | 0 | 0 | ||
Ending balance | 1,625 | 1,700 | 1,625 | 1,700 |
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, | 0 | 0 | 0 | 0 |
Private Equity Investments [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 26,757 | 27,081 | 27,148 | 27,367 |
Included in earnings | 113 | (122) | (278) | (408) |
Unrealized gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 0 | 0 | ||
Settlements | (4) | 0 | (4) | 0 |
Amortization of discount/premium | 0 | 0 | ||
Transfers in and/or out of Level 3 | 0 | 0 | ||
Ending balance | 26,866 | 26,959 | 26,866 | 26,959 |
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 | (122) | (278) | (408) |
Visa Derivative [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | (1,415) | (1,425) | (1,415) | (1,401) |
Included in earnings | (360) | (354) | (720) | (729) |
Unrealized gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 0 | 0 | ||
Settlements | 360 | 364 | 720 | 715 |
Amortization of discount/premium | 0 | 0 | ||
Transfers in and/or out of Level 3 | 0 | 0 | ||
Ending balance | (1,415) | (1,415) | (1,415) | (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, | $ (360) | $ (354) | $ (720) | $ (729) |
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, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 270,547 | $ 301,800 |
Other real estate | 33,289 | 47,030 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other loans held for sale | 0 | |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other loans held for sale | 0 | |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other loans held for sale | 425 | |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,680 | 11,264 |
Other loans held for sale | 0 | 425 |
Other real estate | 13,082 | 23,519 |
Other assets held for sale | 8,043 | 3,425 |
Fair Value, Measurements, Nonrecurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Other loans held for sale | 0 | 0 |
Other real estate | 0 | 0 |
Other assets held for sale | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Other loans held for sale | 0 | 0 |
Other real estate | 0 | 0 |
Other assets held for sale | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,680 | 11,264 |
Other loans held for sale | 0 | 425 |
Other real estate | 13,082 | 23,519 |
Other assets held for sale | $ 8,043 | $ 3,425 |
Fair Value Accounting (Assets M
Fair Value Accounting (Assets Measured at Fair Value on Nonrecurring Basis) (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Impaired Loans [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value adjustment | $ 0 | $ 1,546 | $ 1,162 | $ 1,792 |
Other Real Estate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value adjustment | 2,053 | 4,714 | 3,306 | 8,962 |
Other Assets [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value adjustment | $ 5,593 | $ 0 | $ 6,625 | $ 0 |
Fair Value Accounting (Fair Val
Fair Value Accounting (Fair Value Inputs, Assets, Quantitative Information) (Details) - Level 3 [Member] | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Fair Value, Measurements, Recurring [Member] | Trust Preferred Securities [Member] | Discounted Cash Flow [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Credit spread embedded in discount rate | 5.30% | 4.77% |
Fair Value, Measurements, Recurring [Member] | Private Equity Investments [Member] | Internal Valuation [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount for lack of marketability | 15.00% | 15.00% |
Fair Value, Measurements, Nonrecurring [Member] | Collateral Dependent Impaired Loans [Member] | Third Party Appraised value of Collateral Less Estimated Selling Costs [Member] | Minimum [Member] | ||
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 [Member] | Collateral Dependent Impaired Loans [Member] | Third Party Appraised value of Collateral Less Estimated Selling Costs [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 83.00% | 100.00% |
Estimated selling costs | 32.00% | 10.00% |
Fair Value, Measurements, Nonrecurring [Member] | Collateral Dependent Impaired Loans [Member] | Third Party Appraised value of Collateral Less Estimated Selling Costs [Member] | Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 32.00% | 51.00% |
Estimated selling costs | 13.00% | 7.00% |
Fair Value, Measurements, Nonrecurring [Member] | Other Loans Held for Sale [Member] | Third Party Appraised value of Collateral Less Estimated Selling Costs [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 0.00% | |
Estimated selling costs | 0.00% | |
Fair Value, Measurements, Nonrecurring [Member] | Other Loans Held for Sale [Member] | Third Party Appraised value of Collateral Less Estimated Selling Costs [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 11.00% | |
Estimated selling costs | 10.00% | |
Fair Value, Measurements, Nonrecurring [Member] | Other Loans Held for Sale [Member] | Third Party Appraised value of Collateral Less Estimated Selling Costs [Member] | Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 7.00% | |
Estimated selling costs | 7.00% | |
Fair Value, Measurements, Nonrecurring [Member] | Other Real Estate [Member] | Third Party Appraised value of Collateral Less Estimated Selling Costs [Member] | Minimum [Member] | ||
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 [Member] | Other Real Estate [Member] | Third Party Appraised value of Collateral Less Estimated Selling Costs [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 10.00% | 20.00% |
Estimated selling costs | 10.00% | 10.00% |
Fair Value, Measurements, Nonrecurring [Member] | Other Real Estate [Member] | Third Party Appraised value of Collateral Less Estimated Selling Costs [Member] | Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 7.00% | 7.00% |
Estimated selling costs | 7.00% | 7.00% |
Fair Value, Measurements, Nonrecurring [Member] | Other Assets Held for Sale [Member] | Third Party Appraised value of Collateral Less Estimated Selling Costs or BOV [Member] | Minimum [Member] | ||
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 [Member] | Other Assets Held for Sale [Member] | Third Party Appraised value of Collateral Less Estimated Selling Costs or BOV [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 86.00% | 75.00% |
Estimated selling costs | 10.00% | 10.00% |
Fair Value, Measurements, Nonrecurring [Member] | Other Assets Held for Sale [Member] | Third Party Appraised value of Collateral Less Estimated Selling Costs or BOV [Member] | Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount to appraised value | 65.00% | 42.00% |
Estimated selling costs | 7.00% | 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, 2016 | Dec. 31, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | $ 377,334 | $ 367,092 |
Interest bearing funds with Federal Reserve Bank | 904,406 | 829,887 |
Interest earning deposits with banks | 24,541 | 17,387 |
Federal funds sold and securities purchased under resale agreements | 77,685 | 69,819 |
Trading account assets | 1,001 | 5,097 |
Mortgage loans held for sale | 87,824 | 59,275 |
Investment securities available for sale | 3,580,359 | 3,587,818 |
Loans, net | 22,805,832 | 22,177,069 |
Non-interest bearing deposits | 6,934,443 | 6,732,970 |
Federal funds purchased and securities sold under repurchase agreements | 247,179 | 177,025 |
Long-term debt | 2,135,892 | 2,186,893 |
Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 377,334 | 367,092 |
Interest bearing funds with Federal Reserve Bank | 904,406 | 829,887 |
Interest earning deposits with banks | 24,541 | 17,387 |
Federal funds sold and securities purchased under resale agreements | 77,685 | 69,819 |
Trading account assets | 0 | |
Mortgage loans held for sale | 0 | |
Other loans held for sale | 0 | |
Investment securities available for sale | 86,723 | 56,102 |
Private equity investments | 0 | 0 |
Mutual funds held in Rabbi Trusts | 11,141 | 10,664 |
Loans, net | 0 | 0 |
Derivative asset positions | 0 | 0 |
Trading account liabilities | 0 | 0 |
Non-interest bearing deposits | 0 | 0 |
Interest bearing deposits | 0 | 0 |
Federal funds purchased and securities sold under repurchase agreements | 247,179 | 177,025 |
Long-term debt | 0 | 0 |
Derivative liability positions | 0 | 0 |
Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 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 | 1,001 | 5,097 |
Mortgage loans held for sale | 87,824 | 59,275 |
Other loans held for sale | 0 | |
Investment securities available for sale | 3,492,011 | 3,529,971 |
Private equity investments | 658 | 870 |
Mutual funds held in Rabbi Trusts | 0 | 0 |
Loans, net | 0 | 0 |
Derivative asset positions | 39,345 | 27,139 |
Trading account liabilities | 789 | 1,032 |
Non-interest bearing deposits | 6,934,443 | 6,732,970 |
Interest bearing deposits | 16,999,970 | 16,516,222 |
Federal funds purchased and securities sold under repurchase agreements | 0 | 0 |
Long-term debt | 2,203,518 | 2,244,376 |
Derivative liability positions | 38,688 | 26,030 |
Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
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 | 425 | |
Investment securities available for sale | 1,625 | 1,745 |
Private equity investments | 26,866 | 27,148 |
Mutual funds held in Rabbi Trusts | 0 | 0 |
Loans, net | 22,873,602 | 22,192,903 |
Derivative asset positions | 0 | 0 |
Trading account liabilities | 0 | 0 |
Non-interest bearing deposits | 0 | 0 |
Interest bearing deposits | 0 | 0 |
Federal funds purchased and securities sold under repurchase agreements | 0 | 0 |
Long-term debt | 0 | 0 |
Derivative liability positions | 1,415 | 1,415 |
Carrying Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 377,334 | 367,092 |
Interest bearing funds with Federal Reserve Bank | 904,406 | 829,887 |
Interest earning deposits with banks | 24,541 | 17,387 |
Federal funds sold and securities purchased under resale agreements | 77,685 | 69,819 |
Trading account assets | 1,001 | 5,097 |
Mortgage loans held for sale | 87,824 | 59,275 |
Other loans held for sale | 425 | |
Investment securities available for sale | 3,580,359 | 3,587,818 |
Private equity investments | 27,524 | 28,018 |
Mutual funds held in Rabbi Trusts | 11,141 | 10,664 |
Loans, net | 23,060,908 | 22,429,565 |
Derivative asset positions | 39,345 | 27,139 |
Trading account liabilities | 789 | 1,032 |
Non-interest bearing deposits | 6,934,443 | 6,732,970 |
Interest bearing deposits | 16,991,479 | 16,509,691 |
Federal funds purchased and securities sold under repurchase agreements | 247,179 | 177,025 |
Long-term debt | 2,135,892 | 2,186,893 |
Derivative liability positions | 40,103 | 27,445 |
Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 377,334 | 367,092 |
Interest bearing funds with Federal Reserve Bank | 904,406 | 829,887 |
Interest earning deposits with banks | 24,541 | 17,387 |
Federal funds sold and securities purchased under resale agreements | 77,685 | 69,819 |
Trading account assets | 1,001 | 5,097 |
Mortgage loans held for sale | 87,824 | 59,275 |
Other loans held for sale | 425 | |
Investment securities available for sale | 3,580,359 | 3,587,818 |
Private equity investments | 27,524 | 28,018 |
Mutual funds held in Rabbi Trusts | 11,141 | 10,664 |
Loans, net | 22,873,602 | 22,192,903 |
Derivative asset positions | 39,345 | 27,139 |
Trading account liabilities | 789 | 1,032 |
Non-interest bearing deposits | 6,934,443 | 6,732,970 |
Interest bearing deposits | 16,999,970 | 16,516,222 |
Federal funds purchased and securities sold under repurchase agreements | 247,179 | 177,025 |
Long-term debt | 2,203,518 | 2,244,376 |
Derivative liability positions | $ 40,103 | $ 27,445 |
Derivative Instruments (Narrati
Derivative Instruments (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2016 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Derivative [Line Items] | ||||
Cash flow hedge gain (loss) to be reclassified within 12 months | $ 260 | |||
Deferred loss balance to loss on early extinguishment of debt | $ 197 | |||
Remaining unamortized deferred gain (loss) balance of all previously terminated cash flow hedges | (260) | $ (597) | ||
Remaining deferred gain (loss) balance on all previously terminated fair value hedges | 1,700 | 4,000 | ||
Deferred gain balance on terminated fair value hedges expected to be reclassified from long-term debt | 1,700 | |||
Deferred gain balance to loss on early extinguishment of debt | 1,300 | |||
Derivative, fair value | 1,400 | 1,400 | ||
Gain (loss) on sale of outstanding commitments | (1,600) | $ 2,000 | ||
Deferred gains (loss) on discontinuation of cash flow hedge reclassified to earnings | 950 | 1,500 | ||
Reclassification of hedge-related basis adjustment as a reduction to loss on early extinguishment of debt | 1,300 | |||
Fixed Rate Residential Mortgage [Member] | ||||
Derivative [Line Items] | ||||
Commitments to fund fixed-rate mortgage loans | 108,900 | 88,800 | ||
Unrealized gain on fair value of fixed-rate mortgage loans to customers | 1,200 | $ 266 | ||
Sale of outstanding commitments | 135,000 | 95,000 | ||
Interest Rate Swap [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of interest rate swap contracts | 1,280,000 | $ 6,900 | ||
Federal Funds Sold [Member] | ||||
Derivative [Line Items] | ||||
Federal funds sold | 75,200 | |||
Federal Funds Sold, Counterparty with CCC [Member] | ||||
Derivative [Line Items] | ||||
Federal funds sold | $ 22,900 |
Derivative Instruments (Impact
Derivative Instruments (Impact Of Derivatives On Balance Sheet) (Details) - Not Designated As Hedging Instruments [Member] - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Other Assets [Member] | ||
Derivative [Line Items] | ||
Fair value of derivative assets | $ 39,345 | $ 27,139 |
Other Assets [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Fair value of derivative assets | 36,804 | 25,580 |
Other Assets [Member] | Mortgage Derivatives [Member] | ||
Derivative [Line Items] | ||
Fair value of derivative assets | 2,541 | 1,559 |
Other Assets [Member] | Visa Derivative[Member] | ||
Derivative [Line Items] | ||
Fair value of derivative assets | 0 | 0 |
Other Liabilities [Member] | ||
Derivative [Line Items] | ||
Fair value of derivative liabilities | 40,103 | 27,445 |
Other Liabilities [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Fair value of derivative liabilities | 37,221 | 26,030 |
Other Liabilities [Member] | Mortgage Derivatives [Member] | ||
Derivative [Line Items] | ||
Fair value of derivative liabilities | 1,467 | 0 |
Other Liabilities [Member] | Visa Derivative[Member] | ||
Derivative [Line Items] | ||
Fair value of derivative liabilities | $ 1,415 | $ 1,415 |
Derivative Instruments (Effect
Derivative Instruments (Effect Of Fair Value Hedges On Consolidated Statements Of Income) (Details) - Not Designated As Hedging Instruments [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Derivative [Line Items] | ||||
Amount of Gain (Loss) Recognized in Income on Derivative | $ (308) | $ 1,183 | $ (452) | $ 2,107 |
Other Non-Interest Income [Member] | Interest Rate Contracts [Member] | ||||
Derivative [Line Items] | ||||
Amount of Gain (Loss) Recognized in Income on Derivative | 27 | 55 | 33 | (124) |
Mortgage Banking Income [Member] | Mortgage Derivatives [Member] | ||||
Derivative [Line Items] | ||||
Amount of Gain (Loss) Recognized in Income on Derivative | $ (335) | $ 1,128 | $ (485) | $ 2,231 |
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, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Basic Earnings (Loss) Per Share | ||||
Net income available to common shareholders | $ 57,898 | $ 53,233 | $ 107,870 | $ 104,637 |
Weighted average common shares outstanding (in shares) | 125,100 | 132,947 | 126,164 | 133,935 |
Net income per common share, basic (in dollars per share) | $ 0.46 | $ 0.40 | $ 0.85 | $ 0.78 |
Diluted Earnings (Loss) Per Share | ||||
Net income available to common shareholders | $ 57,898 | $ 53,233 | $ 107,870 | $ 104,637 |
Weighted average common shares outstanding (in shares) | 125,100 | 132,947 | 126,164 | 133,935 |
Potentially dilutive shares from outstanding equity-based awards (in shares) | 599 | 678 | 614 | 743 |
Weighted average number of diluted common shares (in shares) | 125,699 | 133,625 | 126,778 | 134,678 |
Net income per common share, diluted (in dollars per share) | $ 0.46 | $ 0.40 | $ 0.85 | $ 0.78 |
Net Income Per Common Share (Na
Net Income Per Common Share (Narrative) (Details) - shares shares in Millions | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Earnings Per Share [Abstract] | ||
Potentially dilutive shares | 2.5 | 2.7 |
Share-based Compensation (Detai
Share-based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation expense | $ 3.5 | $ 3 | $ 6.8 | $ 6.3 |
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Other equity compensation, shares granted | 0 | 0 | ||
Options outstanding | 1,500,000 | 1,500,000 | ||
Weighted-average exercise price, options | $ 34.10 | $ 34.10 | ||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 3 years | |||
Other equity compensation, shares granted | 342,000 | |||
Performance Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Other equity compensation, shares granted | 84,000 | |||
Market Restricted Stock Units (MRSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 3 years | |||
Weighted-average exercise price, shares granted during period | $ 26.22 | |||
Non-Vested Synovus Shares And Restricted Share Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Other equity compensation, non-vested shares outstanding | 1,100,000 | 1,100,000 | ||
Weighted-average exercise price, non-vested shares outstanding | $ 26.30 | $ 26.30 | ||
Minimum [Member] | Performance Share Units (PSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Range based on return on average assets (ROAA) | 0.00% | 0.00% | ||
Minimum [Member] | Market Restricted Stock Units (MRSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Range based on shareholder return | 75.00% | 75.00% | ||
Maximum [Member] | Performance Share Units (PSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Range based on return on average assets (ROAA) | 150.00% | 150.00% | ||
Maximum [Member] | Market Restricted Stock Units (MRSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Range based on shareholder return | 125.00% | 125.00% | ||
2013 Omnibus Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Equivalents authorized | 6,200,000 | 6,200,000 | ||
Shares of authorized but unissued common stock reserved for future grants | 8,600,000 | 8,600,000 | ||
Contractual term (years) | 10 years | |||
2013 Omnibus Plan [Member] | Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share equivalents ratio | 1 | 1 | ||
2013 Omnibus Plan [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 3 years | |||
2013 Omnibus Plan [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 5 years |
Commitments and Contingencies62
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Loss Contingencies [Line Items] | ||
Contractual amount net of risk participations | $ 62,000 | $ 66,000 |
Guarantee Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Total unfunded lending commitments and letters of credit | 8,633,591 | 8,535,148 |
Standby and Commercial Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Total unfunded lending commitments and letters of credit | 182,327 | 166,936 |
Commitments to Fund Commercial Real Estate, Construction, and Land Development Loans [Member] | ||
Loss Contingencies [Line Items] | ||
Total unfunded lending commitments and letters of credit | 1,696,990 | 1,882,130 |
Unused Credit Card Lines [Member] | ||
Loss Contingencies [Line Items] | ||
Total unfunded lending commitments and letters of credit | 1,078,166 | 1,055,181 |
Commitments under Home Equity Lines of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Total unfunded lending commitments and letters of credit | 1,089,537 | 1,051,386 |
Commitments to Fund Commercial and Industrial Loans [Member] | ||
Loss Contingencies [Line Items] | ||
Total unfunded lending commitments and letters of credit | 4,169,140 | 4,094,809 |
Other Loan Commitments [Member] | ||
Loss Contingencies [Line Items] | ||
Total unfunded lending commitments and letters of credit | $ 417,431 | $ 284,706 |
Legal Proceedings (Details)
Legal Proceedings (Details) | Jun. 30, 2016USD ($) |
Minimum [Member] | |
Loss Contingencies [Line Items] | |
Total unfunded lending commitments and letters of credit | $ 0 |
Maximum [Member] | |
Loss Contingencies [Line Items] | |
Total unfunded lending commitments and letters of credit | $ 12,000,000 |